United Development Funding IV fka UDFI

[Phaedrus77]

UDF V is liquidating. The last update says it's currently not originating any new loans and "intends to continue returning capital...as the portfolio liquidates."

Its last remaining loan was supposed to mature in 2023, but they extended the maturity date to 2025. Got to keep that gravy train rolling, I suppose. I wonder how much Kenney is paid from UDF V.

Also, the opening of their shareholder letter boasts that they've made "total cash distributions to shareholders to over $32 million." Of course, a glance at the balance sheet shows $52 million of paid-in capital....so shareholders give UDF $52, UDF gives shareholders back $32 and has remaining assets of $12.

And UDF apparently wants a cookie for their stellar performance.