DFX Intelligence
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Borrower
H•• F•••••• T••• L••
Real Estate Development & Management Rate S+6.95%, 3.47% Floorgroup grade Aoff every schedule since Sep 30, 2025sponsor unattributed
Also written as: HOA II Finance Two, LLC
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
100¢ · 99¢ · 97¢ · 96¢ · 97¢Q3 2024 to Q3 2025
Principal held
at least $14.4M
sum of BDC pieces, a lower bound
Fair value
$13.9M
97c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
1
0 equity pieces beside them
Next maturity
Nov 1, 2025
$14.4M inside 24 months
On the tape since
Dec 31, 2022
latest Sep 30, 2025
Events
2
dated, non-routine
Lender marks
each lender's own fair value over cost at Sep 30, 2025, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| S••••• P•••• S•••••••• L•••••• F••• | $14.4M | 97¢ | +1 pts |
Every BDC piece · 1 position across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| S••••• P•••• S•••••••• L•••••• F••• | delayed draw term loan first lien 1st L•••/S•••••• L•••• I••••••••• 1st L••• D•••••• D••• T••• L••• I••••••• Real Estate D•• | $14.4M | $13.9M 97c | SOFR+695 bp |
Capital structure as the BDCs see it
latest quarter end Sep 30, 2025
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien delayed draw term loan first lien exited Sep 30, 2025 | at least $14.4M | 97c | SOFR+695 bp | Nov 1, 2025 | 1 |
Through time
the borrower's pieces summed across BDCs, every quarter end
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Sep 30, 2025 | 1 | $14.4M | $13.9M | 97c | 0 |
| Jun 30, 2025 | 1 | $14.6M | $14.0M | 96c | 0 |
| Mar 31, 2025 | 1 | $14.7M | $14.2M | 97c | 0 |
| Dec 31, 2024 | 1 | $14.9M | $14.7M | 99c | 0 |
All 9 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Sep 30, 2024 | 1 | $14.9M | $14.8M | 100c | 0 |
| Jun 30, 2024 | 1 | $14.9M | $14.9M | 101c | 0 |
| Mar 31, 2024 | 1 | $14.9M | $14.8M | 100c | 0 |
| Dec 31, 2023 | 1 | $14.9M | $14.7M | 100c | 0 |
| Dec 31, 2022 | 1 | $14.9M | $14.6M | 100c | 0 |
What changed
- Facility left every BDC scheduleSep 30, 2025
- New borrower on a BDC scheduleDec 31, 2022
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- H•• F•••••• T••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived
- Industry
- Real Estate Development & Management Rate S+6.95%, 3.47% Floorreportedas one filer wrote it