W Financial produces steady results in 2008 and the 1Q '09

W Financial Fund, LP, a Manhattan-based real estate bridge lender, has just successfully completed its 70th month of operation. In 2008 W Financial delivered a 10.3% compounded net return for 2008. As 2008 was one of the most turbulent years ever witnessed in the financial markets where the S&P 500 was down -39%, the NASDAQ was down -40% and the DJIA was down -33%, the fund's performance provides the clearest illustration to date that W Financial's performance is not correlated to the stock and bond markets. W Financial has provided an average annual net compounded return of 11.09% since its July 2003 inception with a total return of 8%. Commercial mortgage brokers have been very pleased with W Fund's responsiveness and its ability to get to the finish line very quickly. For example, last December, at the peak of the holiday season, an extremely time-sensitive loan request for a 12,000 s/f retail condominium in the Meatpacking District was received on Sunday December 28th. This quality loan request and was underwritten, approved and closed in just two business days on New Year's Eve. The borrower had recently closed on the $18 million purchase with a purchase money mortgage, and now had the opportunity to refinance the PMM at a substantial discount, but only if the deal could be completed by year end. The $8.75 million first mortgage bridge loan successfully closed on December 31st, 2008. The Fund prides itself on its ability to quickly assess a deal and, if a deal meets our criteria, estimate the property valuations, and formulate terms and pricing in a prompt and reliable manner. Just as importantly, the Fund will rapidly inform a broker or borrower if there is no interest in a deal, so that other avenues can be pursued. W Financial also recently closed a $2.7 million first mortgage bridge loan secured by three newly renovated multifamily rental buildings in Greenpoint, Brooklyn. Most loans originated by the Fund are focused in the New York Metropolitan area, however loans in major markets up and down the East Coast will be considered. Myself and partner David Heiden are committed to making W Financial New York Metro's most reliable source of bridge financing. Financial is expecting this to be a busy year. Gregg Winter, founder and managing partner, W Financial Fund, LP, New York, NY