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| With the growing level of turmoil and illiquidity in the credit markets, particularly as it relates to land, we are being approached by land owners and developers across our target markets with requests to make financing available for land. In addition to developers looking to recapitalize existing holdings, we are also being contacted by investors looking to finance the acquisition of loan portfolios from various banks around the country. |
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| Avanti continues to focus on land investments and land acquisition/development joint ventures in many locations. However, we are also readily available to make first and second mortgage land loans on a non-recourse basis, assuming loan amounts represent a very substantial discount to the anticipated sellout value of the land. |
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| Avanti's typical first mortgage land loan structure includes a term of up to 7 years, with a total yield (including a pay rate of 7% per annum) of 17% per annum. A minimum of 3 years of interest is required. Loan size ranges from $5 to $100 million. |
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| For more information on the Avanti land loan program or to discuss any specific proposals, please contact any of the following by telephone at 407-628-8488 or via email. |
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