The Sunrise Apartment Note was the purchase of a defaulted note secured by a 152 unit multifamily property located in Lancaster, California a suburb of Los Angeles. The loan value was 75% of value and substantially below cost basis.

DIG acquired the loan at a 25% discount to outstanding principal balance with a personal guaranty and at a substantial discount to replacement cost. DIG was able to exit via a payoff of the note at full face value by the borrower to achieve a superior all cash risk adjusted return.