For Immediate Release: New York: The East Village property is a 28-unit, six-story walk-up with two retail spaces on the ground floor. The owners have carried out an ongoing program of upgrading apartments as they became available. Many of the tenants are NYU students. The property's current income level enabled the owners to both refinance and to recover equity on favorable terms.

Henry Berliss, Executive Vice President of Winter & Company Commercial, arranged the loans with a New York savings bank. The initial segment of the mortgage is five years, amortizing on a 25-year schedule. The Borrowers chose to start the loan with a floating rate that is less than 5%. They have the option of converting to a fixed rate at their discretion, or remaining on a floating-rate basis. The loan closed on March 21, 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