Monies raised through the fund “platform” are generally used to provide equity for new commercial real estate development projects and to acquire distressed loans secured by real estate or undervalued real estate.  The strategy of each Fund is to provide investors with diversity relative to geography and product type.  A typical Fund will invest in a variety of properties, including retail, multi-family, hotel, and other forms of commercial or residential real estate, that are primarily located throughout the southeastern United States.  More recently, the Funds have also invested in distressed assets of commercial banks.  This typically involves the purchase of first mortgage loans that have ultimately been foreclosed.  The properties are then repositioned, redeveloped, and sold.  These types of investments have proven to provide unusually high returns.  Blanchard & Calhoun Commercial will serve as the sponsor of Oak Fund III, which will be initiated soon and is briefly described below.