For Immediate Release: New York: Henry Berliss, EVP of Winter & Company Commercial, has closed a $7,000,000 Blanket Mortgage covering three 4-story, elevator buildings containing a total of 123 apartments. All the units were renovated and then rented by the hands-on owner/operator, who maintains them in immaculate condition, and manages the property effectively.

The current level of income has enabled the owner to both refinance existing debt on favorable terms, and to recover equity that will enable him to purchase additional properties.

Mr. Berliss arranged the loans with the New Jersey office of a Pennsylvania-based bank. The initial segment of the mortgages is five years, amortizing on a 25-year schedule, with an interest rate of 6%. The loans closed on December 30, 2002.

Winter & Company specializes in providing advisory services as well as both institutional and private mortgages to commercial real estate owners and professionals nationwide. Its affiliate, W Financial is a direct private bridge and mezzanine lender providing short-term, special situation financing to developers, owners and investors. If you are an accredited investor and would like to learn more about investing in the Fund, visit PrivateMortgageInvestment.com