This document summarizes an investment opportunity in a real estate lending fund. The fund will provide short and long term loans to purchasers of distressed single family homes in California to buy, rehabilitate, and hold as rental properties. The fund aims to generate returns through interest payments on the loans as well as equity positions in the properties through shared appreciation mortgages. The fund is seeking $100 million and expects to achieve a 15.08% internal rate of return over its 5 year term. It is managed by an experienced team that achieved above market returns in a prior fund during the real estate downturn.