For Immediate Release: New York: One property is a six-story, 24-unit walk-up with a restaurant on the ground floor on East 18th Street in the Gramercy area. The other is a five-story building with eight apartments and two commercial spaces on West 72nd Street on the Upper West Side.

The owners have carried out an ongoing program in both buildings of upgrading apartments as they have become available. The current level of income has now enabled the owners to both refinance existing debt and to recover equity on favorable terms.

Henry Berliss, Executive Vice President of Winter & Company, arranged the loans with a New York City-based savings bank. The initial segment of both mortgages is five years, amortizing on 30-year schedules with interest rates fixed at 6.5%. The loans closed on March 18, 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