The PMB Note Portolfio was the purchase of a loan portfolio secured by a flex-office property located in San Clemente, California and four residential properties in Dana Point, California. The note purchase was completed all cash at a significant discount to replacement cost and below the outstanding debt balance as the borrower had filed for bankruptcy and the lender was motivated for a quick close.

DIG acquired the note portfolio, foreclosed on the properties and subsequently sold each property individually to achieve a substantial risk adjusted return without taking repositioning or capital improvement risk.