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Coastline Capital Fund 2021 Q3 Updates

In 2021 Q3, almost all of our non-performing notes in our note funds progressed toward liquidations. The last of the foreclosure and eviction moratoria were in the process of being lifted or relaxed. The last of the courts we’re opening back up to allow foreclosures to progress. Across all of our Funds, we had 5 liquidations and made 4 distributions to investors.


Here are the details for the individual Funds:


Fund III Update:

We raised $1,590,000 for Fund III in December, 2018, and purchased 12 assets backed by real estate properties in Illinois (6), California (2), New Jersey (1), Tennessee (1), Texas (1) and Wisconsin (1).


This quarter: * We made one distribution to investors.


Of the 3 remaining assets:


• 1 REO is completely renovated and is on the market for sale

• 1 REO is undergoing minimal renovations while we work on clearing title

• 1 NPN went to sale and is reverting to us as REO


To view Loan Level details, visit this page at our website. We believe that this Fund will completely liquidate within the next 6 months.



Fund IV Update:

We raised $1,150,000 for Fund IV in August, 2019, and purchased 5 assets backed by properties in Texas (2), New Jersey (1), Virginia (1) and Nevada (1).


This quarter: * There was no significant activity.


Of the last remaining asset:


• 1 NPN in which the borrower continues to sub-perform on the Chapter 13

bankruptcy plan. We are continuing to monitor the loan and are ready to

respond in case of future delinquencies.


To view Loan Level details, visit this page at our website.



Fund V Update:

We raised $850,000 for Fund V in July, 2020, and purchased 7 assets backed by properties in Ohio (2), Louisiana (2), New Jersey (1), Illinois (1), and Virginia (1).


This quarter: * We made two distributions to investors.


• 2 NPNs liquidated when the properties were sold to 3rd party bidders at the

foreclosure sales.


• 1 NPN liquidated in a short payoff/settlement situation; after a few intense months of unsuccessfully trying to find a way around a statute of limitations issue, the best option was to do a short payoff with the borrower and a settlement agreement with the loan seller.



Of the 2 remaining assets:


• 2 NPNs went to foreclosure sales and are reverting back to us as REOs.


To view Loan Level details, visit this page at our website. We believe that this Fund will be completely liquidated within the next 6 months.



Fund 6 Update:

We raised $2,105,000 for Fund 6 in February, 2021, and purchased 11 assets backed by properties in Illinois (5), New Jersey (3), and Florida (3).


This quarter: * We made one distribution to investors.


• 1 NPN liquidated when the property was sold to a 3rd party bidder at the sheriff sale.

• 1 NPN liquidated in a short payoff/settlement situation.


Of the remaining 9 assets:


• 1 REO is undergoing a rehab before going on the market

• 5 NPNs have sale dates or are waiting to have sale dates

• 1 NPN has a Deed in Lieu of Foreclosure in progress with the borrower

• 2 NPNs are pre judgment



To view Loan Level details, visit this page at our website.

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