Divisions - Real Estate Operations
The current disruptions in the economy and credit markets are creating significant opportunities in the real estate sector, and over the next two to three years, they are likely to continue to become available at an even greater rate as the reverberations of the credit crisis hit as existing real estate investors have loans come due without the same opportunities for refinancing them as once existed. In some select cases, DIVO may participate in "salvage" projects that have stalled and need a fresh investor to see them through to completion. DIVO anticipates the purchase, in whole or in part, rentable real estate intended to generate a continuing stream of income to DIVO. It has identified several seasoned real estate professionals that are ready to help with the identification, acquisition, and maintenance of such properties as soon as DIVO commences these operations. It also has access to substantial expertise with complex "brownfield" remediation which it may enlist to work on suitable projects. Devon Bank has a network of real estate professionals with which it works on a regular basis, and in this challenging real estate market, there are many opportunities available to the patient investor which this network regularly identifies.

Non North American real estate projects will be explored as suitable opportunities present themselves, either directly or by investing in other funds.