We believe that the near and intermediate-term market for investment in select commercial real estate loans, commercial real estate equity investments, commercial real estate-related debt securities, and other real-estate-related assets is compelling from a risk-return perspective.

We believe that our investment strategy, combined with the experience and expertise of our management team, will provide opportunities to take advantage of changing market conditions in order to seek the best risk-return dynamic for our shareholders.

We intend to use substantially all of the proceeds of this offering to originate, acquire, asset manage, operate, selectively leverage, syndicate and opportunistically sell commercial real estate and development projects, with such investments consisting of equity interests in such properties or debt, as well as commercial real estate loans, commercial real estate debt securities and other select real estate-related assets, where the underlying assets primarily consist of such properties.