The Prestige at Mayhill

Bids Due September 17th, 2027

• The offering consists of a first-position mortgage loan secured by approximately 22.9 acres of entitled multifamily development land in Denton, Texas.
• The approximately $5.06 million UPB is supported by an estimated $10.0 million As-Is collateral value, providing substantial apparent collateral coverage.
• Significant entitlement and predevelopment work has been completed for a planned 406-unit multifamily project, including zoning, platting, development planning, building-plan approvals, and utility coordination.
• With no horizontal or vertical construction completed, a future owner retains flexibility in evaluating and executing the remaining development strategy.
• The surrounding market has experienced continued residential and commercial development as growth expands north from the core Dallas-Fort Worth markets.
• Denton offers a combination of population growth, established employment and educational demand, and comparatively greater availability of developable land than more mature DFW submarkets.
• At the low end of the estimated value range, UPB represents approximately 51% of collateral value.
• The appraisal also references utility ‘will-serve’ letters supporting capacity for up to 450 units.