This is the third update from the ongoing investigation on behalf of individuals who invested in the IMH Secured Loan Fund private placement. On March 16, 2010, a tender offer statement was filed by real estate management company MacKenzie Patterson Fuller (MPF). According to MPF's website, the firm specializes in "turning discounted illiquid real estate securities into attractive marketable assets." Under the terms of the proposed tender offer, MPF is offering to pay $4,000,000 to acquire 4,000 units which equates to $1,000 per unit.
Meanwhile, IMH Financial Corporation has been busily amending their SEC registration statement (Form S-4). Click here for an up-to-date listing of all SEC filings for IMH.
Was the IMH Secured Loan Fund a suitable investment for you? See previous blog posting.