12 Oaks
Description:		BRP purchased two non-performing loans secured by assisted and independent living communities with 372 units located in Dallas, Texas.
Thesis:		The borrower did not have operational expertise in assisted living and expressed a strong interest in executing a deed-in-lieu of foreclosure. Through BRP's relationship with Summerville Senior Living, one of the nation's largest assisted living companies, we were able to underwrite operational improvements that increased the intrinsic value of the fee interest in the communities.
Equity Invested:		$16.85 million