Sycamore Urban Properties is a value-added, investor and developer focusing on the acquisition of partially or fully complete distressed residential properties, with particular focus on condominium or apartment-to-condominium conversion projects. Our primary focus is to work with borrowers and/or banks to purchase distressed properties, including bank Real Estate Owned (REO) assets and/or notes. The disposition strategies will include sales of assets on a retail basis to homebuyers or the bulk sale of properties at targeted returns and/or capitalization rates. Sycamore operates within the California, Arizona and Nevada markets.

Particularly in California, the markets are trending to shortages of for sale housing, which is further impacted by additional restraints on new home development, including scarcity of developable land, more lengthy and arduous entitlement approvals, lack of infrastructure, shortages of labor and materials and the cumulative impact of California's tremendous focus on green building and global warming. As the markets continue to recover, there will be increased demand and a limited supply of housing, particularly in the more affordable price ranges found in the attached housing sector. Sycamore is positioned to control residential communities and deliver each to the market as demand once again surpasses supply.