Aries Lending Fund I, LLC, a Delaware limited liability company (the “Fund” or the “Company”).
The strategy of the Fund is to invest in real estate based assets located primarily in the Pacific Northwest (Oregon, Washington and Idaho) and occasionally in neighboring states. The Fund will focus on real estate loans (the “Mortgage Loans”), both whole and participation interests, secured primarily by non-owner occupied 1-4 unit residential, and occasionally multifamily and commercial properties, as well as land for future development. The Fund may consider Mortgage Loans secured by owner occupied 1-4 residential properties in the future if and when there are favorable regulatory changes made (e.g. repealing portions of the Dodd Frank Act, etc.)
The Fund will originate and acquire Mortgage Loans, both whole and participation interests, that meet the following general criteria:
- Mortgage Loans made primarily to investors and developers for the acquisition and/or refinance of primarily non-owner occupied 1-4 unit residential, and occasionally multifamily and commercial properties. These loans will typically have a construction or rehab component to them, but bridge loans without a construction or rehab component may also be considered. These loans will be secured primary in first lien position, however some second position Mortgage Loans may be evaluated. Mortgage Loans with a construction/rehab component will be evaluated and the draws will be controlled and disbursed by the Manager as the project is completed.
- Mortgage Loans secured in first lien position made primary to investors and developers for the acquisition and/or refinance of land to be held for future development. Typically this type of collateral will consist of lots in their final stages of development, and funds to finish the development will be controlled and disbursed by the Manager as the lots are finished.
The Manager expects the Mortgage Loans it originates on behalf of the Fund to be relatively short term in nature (12 months or less), however, the Fund may make longer term loans in the sole discretion of the Manager.