Notice of Disposition of Collateral Public Auction – UCC Sale
Notice is hereby given that, in accordance with applicable provisions of the Uniform Commercial Code (the "UCC"), as enacted in the State of New York, MF1 Capital Mezz Seller IV LLC ("Secured Party"), a Delaware limited liability company, will offer for sale (the "Sale"), at public auction, all right, title, and interest of GC Highlands Mezz, LLC ("Pledgor"), a Delaware limited liability company, in and to 100% of the limited liability company membership interests, together with all economic rights and governance rights associated therewith, in and to GC Highlands, LLC (the "Collateral"). GC Highlands, LLC is a Delaware limited liability company and the owner of the real property, and improvements thereon, commonly known as Highlands at the Lake and located at 100 Arbor Lake Boulevard, Hermitage, Tennessee 37076 (the "Property"). The Sale, which was originally scheduled for May 14, 2026 at 10:00 a.m. (ET), has been rescheduled to June 24, 2026 at 3:30 p.m. (ET) at the top of the front steps of the Courthouse of the New York County Supreme Court located at 60 Centre Street, New York, New York 10007 with an option to participate virtually via the following Zoom meeting link: https://bit.ly/HighlandsLakeUCC, Meeting ID: 861-3116-2978, Password: 624058, Call-in number: 1-646-931-3860 (US). The Sale will be conducted by Matthew D. Mannion of Mannion Auctions, LLC. Parties interested in bidding on the Collateral must contact Secured Party's counsel, Jack Doherty, Esq. of Holland & Knight LLP at (212) 751-3003 or jack.doherty@hklaw.com. Upon execution of a non-disclosure agreement, a copy of the Terms of Sale and additional documentation and information will be made available.
Secured Party, as lender, made a loan (the "Mezzanine Loan") to Pledgor in the original principal amount of $936,500.00. In connection with the Mezzanine Loan, Secured Party obtained a first-priority lien on the Collateral pursuant to a certain Pledge and Security Agreement. Secured Party is conducting the Sale as a result of Pledgor's default(s) under the applicable Mezzanine Loan documents. The Mezzanine Loan is subject to a senior loan (the "Senior Loan") and first-priority mortgage on the Property and the obligations and liabilities set forth in the Senior Loan documents.
The Collateral is being offered as a single lot, "as-is, where-is", with no express or implied warranties, representations, statements or conditions of any kind made by Secured Party or any person acting for or on behalf of the Secured Party, without any recourse whatsoever to the Secured Party or any other person acting for or on behalf of the Secured Party and each bidder must make its own inquiry regarding the Collateral. The successful bidder shall be responsible for the payment of all transfer taxes, stamp duties and similar taxes incurred in connection with the purchase of the Collateral.
The Secured Party reserves the right to credit bid, set a minimum reserve price, reject all bids and terminate or adjourn the sale to another time, without further notice. All bids (other than credit bids of the Secured Party) must be for cash, and the successful bidder must be prepared to comply with the bidding and closing requirements in the Terms of Sale. None of the Collateral has been registered for sale under any federal or state securities or blue sky laws, and as such may not be sold or otherwise transferred by Secured Party or a purchaser of any Collateral except in accordance with applicable law.
May 29, June 12 2026
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