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Since the early 1990's, The Davis Companies has purchased close to $170 million in loans and securities from major financial institutions and expects to continue to explore adding opportunistic investments to the portfolio.
DIV LOAN PORTFOLIO I
| Property Type: | Apartment, Retail, Office Senior Performing Debt |
| Location: | Virginia (Springfield - DC Metro) South Carolina (Columbia) Georgia (Atlanta) Louisiana (Lafayette near Baton Rouge) Ohio (Columbus) |
| Size: | Apartment: 1,284 units (486,420 sq ft) Commercial: 292,669 sq ft |
TDC Value Creation:
- Purchased pool of six performing first mortgage loans at 23% discount and 9-year remaining term
- TDC basis represented approximately 56% of 2007 appraised value
- Obtained 76% initial financing on acquisition to leverage equity position with additional loan proceeds upon achieving certain leasing parameters on Park Central office building bringing total possible debt proceeds to approximately 83% loan to cost.