PPAF invested $1.1 million as part of a larger investment of $6.5 million in equity into a residential land development project in southwest Orlando.  Our JV Partner is DDC Management, a land development company that invests and develops land for sale to national homebuilders in Ohio, Florida, and the Carolinas. Our JV entity is acquiring a 49% ownership in the project, with an expected duration of 2 years and potential multiple of 1.5x.