The drafters of the bankruptcy code never anticipated the shutdown of the economy that we are seeing.

In the meantime, the company has scaled back, including furloughing its non-essential employees.

Applications will be accepted beginning on April 24 through May 1.

The venture has closed on its first land acquisition for the development of a proposed Class A, 429-unit apartment community in The Woodlands, Texas area

"Eventually, if we give them enough rope, they will be able to recapture some of that lost revenue and pay us back for the time we gave them," says Pebb Capital's Todd Rosenberg.

The Saluda Grade Alternative Lending & Fintech Growth Fund I is investing in private real estate lenders, "technology-forward" lending platforms and "synergistic lending technologies."

Failed CRE deals rose sixfold in March, according to Real Capital Analytics. Separately, an Institutional Property Advisors survey found that 64% of multifamily developers would only accept a discounted pre-sale price of less than 5% from their estimated valuation.

The six-asset portfolio traded well below replacement cost, says Transwestern's John Bell.