Mountain Real Estate Capital Closes 2011 with Two Significant Bank Note Acquisitions

Torrance, CA – January 16, 2012 – (RealEstateRama) — Mountain Real Estate Capital (MREC) announces the closing of two notable acquisitions: one for a loan portfolio with residential assets located throughout South Carolina and a separate note purchase on a high profile subdivision in the North Hills section of Raleigh. In total, MREC acquired approximately 150 performing and non-performing loans totaling over $100 million in loan balance. The loans are secured primarily by residential development properties in Raleigh, N.C., and the Charleston, Myrtle Beach, Hilton Head and Kiawah Island areas of South Carolina.