Cygnus originally purchased Lost Mountain as part of a Cygnus Property Fund II acquisition of a SunTrust REO portfolio in November 2012 for $1.065M. The asset, a distressed lease secured by a 36,056 sq. ft. retail and office property, was subsequently transferred into Strategic Income Fund in September of 2016. During the 4-year hold period, Cygnus increased occupancy from 12% to 82%, leading to positive cash flow. Cygnus sold the stabilized asset to a local investor for $3.087M, representing a IRR of 31.23%.