Laguna Beach NPL was the purchase, at par, of a non-performing loan secured by an 18-property portfolio of extremely well-located middle market real estate throughout Southern California including Laguna Beach, Los Angeles, and Orange County. Portfolio consisted of multifamily, office, retail, hospitality, vacation rentals, and land. The loan was in monetary default at purchase. DIG identified the opportunity, negotiated an PSA and JV Agreement with an institutional partner and closed all within 30 days. Upon closing, DIG immediately issued a notice to foreclose. The borrower paid the loan off within 30 days of closing and within a couple days of the foreclosure sale, resulting in a 120% IRR and 1.06x equity multiple at the project level.