Based on investing over 5 quarters to achieve optimal diversification, an investor owning 10% of each of ICA’s loans would have achieved the following diversification:
| Average Loan Size | $150,000 |
| Maximum Loan | $300,000 |
| Minimum Loan | $75,000 |
| Number of States | 20-25 |
| Largest Concentration | 20% |
| Number of Property Types | 8-10 |
| Largest Concentrations | 30% Retail |
| 20% Office | |
| Number of Loans | 70-100 |
An investor in all ICA Loans would achieve the following diversification:
