UCC Public Sale Notice

Please take notice that CBRE Capital Markets, Inc. ("CBRE"), on behalf of CRE DEBT FUND TRS, LLC (together with its successors and assigns, the "Secured Party"), offers for sale at public auction on December 19, 2024 at 1:00 p.m. (New York time) conducted both via Zoom (or a similar online platform) and in-person at the offices of Gibson, Dunn & Crutcher LLP, 200 Park Avenue, New York, New York 10166, in connection with a Uniform Commercial Code sale, 100% of the partnership interests (the "Interests") in CGI FUND I BILTMORE LP, a Delaware limited partnership (the "Mortgage Borrower"), which is the sole owner of the property located at 550 Biltmore Way, Coral Gables, Florida 33134. The Interests are owned by CGI FUND I BILTMORE GP LLC, a Delaware limited liability company ("GP Pledgor") and CGI FUND I BILTMORE LP LLC, a Delaware limited liability company ("LP Pledgor," and together with GP Pledgor, individually or collectively as the context may require, "Pledgor"), having their principal place of business at 3480 Main Highway, Suite 200, Coconut Grove, Florida 33133.

The Secured Party (as successor-in-interest) is the lender on a loan made to the Mortgage Borrower (the "Loan"). In connection with the Loan, the Pledgor has granted to the Secured Party a first priority lien on the Interests pursuant to that certain Pledge and Security Agreement, dated as of May 5, 2021, made by Pledgor in favor of the Secured Party. The Secured Party is offering the Interests for sale in connection with the foreclosure on the pledge of such Interests. The Loan is also secured by a mortgage on real property owned by the Mortgage Borrower or otherwise affecting the property (the "Mortgage Loan"). The Secured Party may, prior to the sale described herein, assign all of its right, title and interest in and to the Loan and in the case of such assignment the assignee shall be considered the "Secured Party" for all purposes hereunder.

The sale of the Interests will be subject to all applicable third-party consents and regulatory approvals, if any, as well as the terms of sale prepared by the Secured Party (the "Terms of Sale"). Without limitation to the foregoing, please take notice that there are specific requirements for any potential successful bidder in connection with obtaining information and bidding on the Interests, including, but not limited to, execution of a confidentiality agreement.

The Interests are being offered as a single lot, "as-is, where-is", with no express or implied warranties, representations, statements or conditions of any kind made by the Secured Party or any person acting for or on behalf of the Secured Party, without any recourse whatsoever to the Secured Party or any other person acting for or on behalf of the Secured Party and each bidder must make its own inquiry regarding the Interests. The winning bidder shall be responsible for the payment of all transfer taxes, stamp duties and similar taxes incurred in connection with the purchase of the Interests.

The Secured Party reserves the right to credit bid, set a minimum reserve price, reject all bids (including without limitation any bid that it deems to have been made by a bidder that is unable to satisfy the requirements imposed by the Secured Party upon prospective bidders in connection with the sale or to whom in the Secured Party's sole judgment a sale may not lawfully be made), terminate or adjourn the sale to another time, without further notice, and to sell the Interests at a subsequent sale, and to impose any other commercially reasonable conditions upon the sale of the Interests as the Secured Party may deem proper. The Secured Party further reserves the right to restrict prospective bidders to those who will represent that they are purchasing the Interests for their own account for investment not with a view to the distribution or resale of such Interests, to verify that any certificate for the Interests to be sold bears a legend substantially to the effect that such interests have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), and may not be disposed of in violation of the provisions of the Securities Act and to impose such other limitations or conditions in connection with the sale of the Interests as the Secured Party deems necessary or advisable in order to comply with the Securities Act or any other applicable law.

All bids (other than credit bids of the Secured Party) must be for cash, and the successful bidder must be prepared to deliver immediately available good funds as required by the Terms of Sale and otherwise comply with the bidding requirements and the Terms of Sale. Interested parties seeking additional information concerning the Interests, the requirements for obtaining information and bidding on the interests and the Terms of Sale should execute the confidentiality agreement which can be reviewed at the following website: https://tinyurl.com/BiltmoreUCC. For questions and inquiries, please contact CBREUCCSales@cbre.com.

IPL0207594

Dec 10 2024