MUNIMAE

real estate debt investments and equity arrangements, namely, managing and arranging for loans to and ownership of real estate for others, namely, residential and commercial real estate, retirement communities, life care, assisted living, and other facilities for the elderly; real estate investments for others; loans, including tax exempt bond loans, for residential and commercial real estate, retirement communities, life care, assisted living and other facilities for the elderly; and consultation in connection therewith; all services are for the benefit of others