ING Commercial Real Estate Opportunity Fund

Program Overview

The ING Commercial Real Estate Opportunity Fund (“The Fund”) is a $250,000,000 fund focused on participating mortgages, undeveloped land and other opportunistic transactions. The Fund has a broad mandate to seek out opportunities where it believes significant value is available.

Income Producing Properties – New Development/ Repositioning

• Industrial/warehouse, retail, apartment, and office
• Construction loans – new development/renovation; Mini-perm loans
• Fixed rate and floating rate options
• Transaction size of $10MM-40MM
• Up to 95% of capital structure
• 30%-50% participation in operating cash flow and sales proceeds
• 3-5 year term
• Non-recourse after construction

Land Loans

• Residential and Commercial
• Acquisition/Hold
• Horizontal construction
• Fixed rate and floating rate options
• Deal size of $10-40MM
• Up to 50% of current, discounted value
• 3-5 year term
• Participating mortgage structure at higher leverage
• Non-recourse.

Benefits to Borrower

• Single source of capital – construction/mini-perm/full
• Flexible financing structures
• No preferred returns
• No partnership management requirements
• Non-recourse after construction