• Acquisition of a newly constructed, 309-unit, Class A multifamily property located near the Ford Kentucky Truck Plant in the Springhurst neighborhood of Louisville, Kentucky.

• Delaware Statutory Trust ownership structure.

• At the time of closing, the property was in initial lease up and 58% occupied, with strong recent leasing activity.

• High-quality property with luxury amenities in a demographically strong area.

• Low-leverage loan to a very experienced, repeat sponsor.