Reef-PCG LLC specializes in facilitating and servicing private lending transactions collateralized by commercial real estate. Syndicated loans serviced by PCG, and which may be made by the Company, are typically made to developers and commercial real estate investors. These loans commonly range in size from approximately $5,000,000 to $50,000,000 and are secured by priority interests in the subject real properties. Preferred collateral includes income-producing assets such as apartment complexes, commercial office buildings, retail centers, hotels/motels, storage units, industrial complexes, and warehouses. Foreclosed or distressed commercial and residential developments that may require improvements, construction, or rehabilitation are also commonly used as collateral. Loans serviced by PCG involving notes payable and secured by real estate may also be secured by classes of assets related to the particular real estate collateral including, for example, water rights, mining claims and other mineral rights, equipment and other tangible assets. The Company typically participates in each loan sourced by PCG alongside SFA Funds (as defined below) and other private lenders as a fractional participant in a loan syndication structure.