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George Smith Partners identified a fund currently advancing up to 100% of the re-stated value in a discounted pay-off (DPO) scenario for the existing borrower. Note acquisitions will require new cash equity to close. This capital provider is yield driven and not looking to “Loan to Own”. Transactions must have a verifiable exit or obtainable business plan to take the capital provider out upon re-stabilization. Yield requirements will vary based on product type and hold criteria although once the required yield is obtained, the lender will not participate in upside equity. Borrowers are further incentivized to maximize their business plan without the splits of a new equity participant.