Why Invest in Notes?

Asset-backed income with priority payments and defined downside protection.

Why notes are compelling in CRE portfolios

Note investing combines payment priority with collateral security, creating attractive risk-adjusted returns when underwritten conservatively.

Debt is paid before equity, supporting more reliable income through market cycles.

Collateral value and lien rights create a tangible recovery path.

Conservative assumptions and structured terms protect the downside.

Notes provide exposure across sponsors, markets, and property types.

Workouts, payoffs, or exits can be tailored to the asset and borrower.

Buying below UPB can improve yield and enhance capital protection.