Equity Resource Fund 2013 (F2013) invested $5.5 million to acquire the second of three mortgages and 100% of the equity in a high-rise apartment complex located in Chicago, Illinois. F2013 acquired this formerly distressed asset from a partnership that has limited capacity to fund capital needs. The second mortgage is subordinate only to a modest first mortgage, providing a low leverage investment. The property is in an improving area of Chicago and benefited from an infusion of capital.
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