OVERVIEW

Midland Loan Services, L. P. is one of the leading real estate financial services companies in the nation. Midland specializes in the servicing, financing, management and disposition of portfolios of commercial real estate assets for investors, financial institutions and governmental agencies.

Midland provides the highest quality of service on a cost effectie basis through the integration of experienced real estate professionals with the most advanced financial data processing and information systems technologies.

SCOPE OF SERVICES

-Loan Servicing -Asset Management -Mortgage Banking -Investment and Acquisition Advisory Services

LOAN SERVICING

Midland ranks in the top 5 commercial loan servicers in the nation, with a current portfolio of over 125,000 loans and $9 billion in total principal balances. Midland provides conventional loan servicing and sub-servicing, interim servicing for loans held for securitization, as wen as master servicing for commercial mortgage-backed securities transactions.

Midland is approved by all four major credit rating agencies as a master and special servicer for commercial and multifamily mortgage-backed securities.

Recently, Midland received the coveted "Above Average" ratings from Standard & Poor's as a loan servicer and asset manager, and from Fitch Investors Services as an asset manager.

ASSET MANAGEMENT

Midland is one of the premier asset management groups in the country. Since 1991, Midland has managed and disposed of over $4 billion of non-performing loans and real estate owned for investors, financial institutions and governmental agencies.

MORTGAGE BANKING

Midland originates long term, fixed rate mortgage loans nationwide on all types of income producing properties in the $750,000 to $7,500,000 range. Since July 1994, Midland has funded over 80 loans with principal balances in excess of $150 million, and has another 50 loans with $100 million in principal balances in the "pipeline".

INVESTMENT AND ACQUISITION ADVISORY SERVICES

Midland actively participates with private and institutional investors in the identifiaction and acquisition of opportunisitc investments in commercial real estate-related assets. As an example, Midland is the exclusive asset manager for the Eastrich Multiple Investor Fund transaction which involved the purchase of over $1 billion of non-performing real estate assets from the RTC in a structured transaction.