How does the current worldwide economic turmoil affect the Grace Fund?
The Grace Fund makes loans to Grace Realty Group affiliates for the acquisition and redevelopment of commercial real estate. The borrowers pay monthly interest to the Fund, which is then distributed to Fund investors. If there is no long-term, affordable institutional financing available for the borrowers to refinance, or for a new buyer to purchase the property, the borrower will have to continue paying the Fund’s high rate of interest until financing becomes available again.
