Included among the loan collateral being auctioned by theCarlton Exchange are: a 148-acre former golf course, once known asthe California Club golf course in Miami-Dade County, which hadbeen approved for 825 detached and multi-family homes; a new, ClassA, 86,000-square-foot-office building in the city of Miami, andthree small hotels on Ft. Lauderdale Beach.

According to Joe Korbar, managing director for the CarltonExchange, the new Class A office building in Miami has 17,000square feet of retail and 69,000 square feet of office space.Although it was designed as an office condominium, today, most ofthe office space is being rented, while the mortgage being sold ison 54,000 square feet.

On Ft. Lauderdale Beach, the three separate loans were taken outby one mortgagor on an assemblage of low-rise, older hotels. Thecity of Ft. Lauderdale had approved a plan for a 22-story resort onthe property on April 15, 2008. One of the existing hotels is knownas the Tropic Cay motel.