Company DVL, Inc.

DVL, Inc. is a commercial real estate finance company. The Company, through subsidiaries, is primarily engaged in the direct and indirect ownership of real estate and mortgages, the ownership of residual interests in securitized portfolios, and the performance of real estate asset management and administrative services. The Company’s investments consist primarily of direct and indirect ownership in real estate, mortgages and residual interests in securitized portfolios. Its real estate properties consist of an approximately 89,000 square foot building on approximately eight acres of land in Kearny, New Jersey (the Kearny Property), and an approximately 97,000 square foot shopping center on approximately eight acres of land in Del-Rio, Texas, (the Del-Rio Property). The Company’s subsidiary is RH Interest, Inc., which owns 28 residential condominium units (the CB Property) within a 46- unit condominium portfolio located in Madison, New Jersey.