Crowne Tower Apartments – Mezzanine Debt

Fairway America, LLC (“Fairway”) is offering fractional interests in a secured promissory note (the “Note”) issued by Vivo Living Baltimore Mezz Borrower, LLC (the “Borrower”) to Fairway for the benefit of individual investors in the Note (the “Co-Lenders”). Each Co-Lender will own an interest in the Note prorated to its dollar amount invested. The Note will be secured by a pledge agreement, whereby equity investors in Vivo Living Baltimore LLC (the “Company”) pledge their membership interests in the Company as collateral for the Loan. The Note will be paid current, monthly, with a minimum equivalent interest of 18 months of term.

Fairway America Management Group IV, LLC (“FAMG”) and Vivo Investment Group, LLC (“Vivo”) (collectively, the “Co-Managers”) intend to acquire a two-tower high rise hotel property (the “Property”) operating as a Radisson and a Holiday Inn in Baltimore, MD, and convert it to multifamily housing (the “Project”) as part of the Co-Managers’ distressed hospitality-to-workforce housing conversion strategy.

The Project will be the 20th investment the Co-Managers have acquired together. These include multiple acquisitions through the Fairway Vivo GP Fund LLC (the “GP Fund” or “Manager”), which targets functionally obsolete limited-service and extended-stay hotels in markets with few quality affordable housing options that can be acquired at what we believe to be an attractive all-in cost basis. The Co-Managers seek to convert the hotel property into affordable studio, one- or two-bedroom apartments. Once the conversion is executed, the Co-Managers intend to recapitalize or sell the Property.²