Tricon

TRICON XI

Tricon XI, L.P. is a dedicated U.S. fund which has been established to capitalize on distressed residential real estate investment opportunities in the United States that have arisen out of the 2007 - 2009 credit market crisis and related economic recession. Tricon XI’s focus will be to provide financing to experienced and reputable real estate developers for the acquisition, repositioning and potential development of distressed properties, through the acquisition of discounted bank notes, REO property (property a bank has foreclosed on and classified as "real estate owned") and non-bank owned distressed real estate.

Tricon XI will primarily participate in the "for-sale" residential sector, including land development, homebuilding, condominium development and to a lesser extent, the multi-family rental apartment and retail sectors. It is expected that investments in Tricon XI will initially be capitalized on an “all cash” basis allowing assets to be held with minimal carrying costs and with no pressure from senior lenders.

Tricon XI is targeting a gross internal rate of return of 18 percent and expects investments to range in size from $10 - $50 million with an expected average investment size of $25 million.