The first mortgage on Alta Surf was acquired in April 2009. Alta Surf was built in 2007 and consists of a 216-unit Class “A” apartment complex located in Myrtle Beach, South Carolina. A deed-in-lieu of foreclosure was negotiated with the borrower immediately after closing. The property was refinanced with Freddie Mac approximately 5 months after obtaining the deed. The property was sold in December 2012.
| Address: | 101 Breakers Drive |
| City, State: | Myrtle Beach, South Carolina |
| Property Type: | Multifamily |
| Year Built: | 2007 |
| Square Footage: | 208,752 sqft |
| Units: | 216 |
| Acquisition Type: | Senior Note |
| Acquisition Date: | September 2009 |
| Disposition Date: | December 2012 |
