Vehicle
Apex South Creek IB, LLC
Initial beneficiary of Apex South Creek, DST. Named borrower on the IBI Volcano leftover-equity notes. Not the KHCA revolving bridge.
- Role
- Initial beneficiary · 100% of Apex South Creek, DST interests at the 18 Nov 2022 close
- Leftover-equity notes
- 18 Nov 2022 · $25M IBI Volcano + $6M West 4 + $11M Comrit (assigned to Volcano 3 Jul 2023). 12% coupon, 14% default. Pledge of IB interests, not a mortgage.
- New York
- Borrower in I.B.I. Volcano / West 4 v. Crew, Index 652237/2025. Clerk money judgment 30 Sep 2025.
Borrower on the Apex leftover-equity notes. Different stack from the KHCA Vintage / Walk / One on 4th / Hayworth revolving bridge. KHCA declined this overlay — do not draw KHCA as an Apex bridge lender.
Named borrower in IBI Volcano’s New York judgment. Crew is the named guarantor. Leftover-equity notes, not the KHCA revolving bridge.