For Immediate Release: New York: Winter & Company has successfully refinanced the mortgage for a 435,000 square foot apartment complex situated on 43.3 acres of land in a southern suburb of Chicago. This garden apartment complex contains 388 town home units in 76 two-story buildings. The majority of the loan proceeds will be used for capital improvements on the property with the balance to be added to their reserves.

The $4,150,000 30-year fixed rate loan has a rate of 5.84%, priced at only 166 basis points above the 10-year Treasury note rate. Gregg Winter, President of Winter & Company, closed the loan with one of our most competitive lenders. During years 16 - 30 of the loan term the prepayment penalty will drop to only 1% of the then-remaining loan balance, giving the borrower maximum flexibility in the loan’s later years. The borrower will also be able to access additional funding if needed, multiple times throughout the course of the 30-year loan term. The loan closed on December 11, 2003.

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