Vestin Mortgage, LLC (Vestin Mortgage) serves as our manager, subject to the oversight of our
board of directors and pursuant to the terms and conditions of our management
agreement. Vestin Mortgage is a privately held company who Micahel Shustek owns a significant majority.
Vestin Mortgage and their staff of experienced, knowledgeable professionals continuously
evaluates prospective investments and makes all investment decisions on our behalf. In
evaluating prospective investments, Vestin Mortgage considers the following factors:
- The ratio of the amount of the investment to the value of the property or loan to value ratio;
- The potential for capital appreciation or depreciation of the property;
- Expected levels of rental and occupancy rates;
- Potential for rental increases;
- Current and projected revenues from the property;
- The status and condition of the record title of the property;
- Geographic location of the property; and
- The financial condition of the borrowers, their principals or guarantors for loans.
Vestin Mortgage is also the manager of Vestin Realty Mortgage II Inc. ("VRM II"), a publicly traded
company as successor by merger to Vestin Fund II, LLC and Vestin Fund III, LLC ("Fund III"). These entities
were formed to invest in real estate loans. VRMII has investment objectives similar to ours, and Fund III
has commenced an orderly liquidation of its assets.
Vestin Mortgage was founded in 1995 by Chief Executive Officer Michael Shustek.
From 1995 until the present, Vestin Mortgage has facilitated more than $2.0 billion in
lending transactions helping to carve out a niche in diversified real estate investment