Program workspace

“Big Bear, CA This loan provided for the renovation of an existing 83,000 square-foot shopping center previously owned and occupied by Kmart. At closing, the property was 92% leased to the credit tenants Marshalls and Tractor Supply Co and to the national chain tenant Grocery Outlet. The Sponsor plans to renovate and provide tenant improvements to the subject property.”

“Executive Vice President, Portfolio Manager Adam Deermount is responsible for overseeing the Nikols Mortgage Fund loan portfolio, managing loan closings, construction draws, servicing and modifications. He tracks construction and development progress, project timelines and budgets, and works with borrowers to address potential problems before they arise. Prior to joining Nikols, Adam served as Chief Investment Officer at Ramser Development Company where he led the acquisition and asset management teams focused on building a nationwide vehicle storage platform. Deermount was a cofounder of RanchHarbor where he focused on acquisitions and capital raising activities for value-add multifamily, industrial and self-storage properties. Deermount also co-founded Landmark Real Estate, a real estate capital advisory firm disciplined in finance and private equity, where he successfully advised clients on over $1.3 billion of capital transactions across all asset classes. Deermount was an advisor to State Street Bank on the restructuring of a $550 million land and development loan. He also served as a bankruptcy consultant to Hogan-Webb, LLC, the chief restructuring officer of LandSource Holding Company, a $2.6 billion land development company owned by Lennar Homes, LNR Partners, and CalPERS. Deermount’s experience also includes roles with California National Bank, TA Associates Realty and Merrill Lynch Capital in the Commercial Real Estate Finance Group. He has also been an adjunct professor in the MBA Real Estate Finance program at the UCI Paul Merage School of Business since 2021. Deermount graduated from Tufts University in Boston where he was a 2001 collegiate All-American and national collegiate sailing champion. He is an active member of Newport Harbor Yacht Club and has held numerous leadership roles. He was Fleet Captain in 2018 and 2019 and is a member of the Board of Directors. Deermount resides in Newport Beach with his wife and two daughters”

“Ana Quiroz Construction Draw Administrator”

“National City, CA This loan provided for the completion and lease-up of a 93% constructed, 92-unit multi-family project. We were the construction lender as well as the provider of the original land loan, which allowed for a partnership buyout and time to process building permits. We competed heavily for this bridge loan and won because of favorable terms as well as a positive borrower-lender relationship and a minor loan modification rather than entirely new documentation.”

“We are dedicated to working with our borrowers to accomplish project completion. We’ve only foreclosed on one property since our formation in 2007 and we’ve never lost a penny on any loan.”

“Chief Financial Officer Carl Henry is responsible for investor distributions, investor relations, financial reporting and tax/regulatory compliance as it relates to the Fund. He also helps provide strategic, financial and accounting leadership for the company. Carl joined Nikols Mortgage Fund, LLC with 30 years of experience in accounting and finance, including 10 years at JLL where he served as Finance Director and Senior Finance Director, leading teams in charge of Boeing and Cisco’s national property portfolios. As Finance Director, he grew JLL’s portfolio with Boeing fivefold and oversaw a team of 8 accountants. As Senior Finance Director, he oversaw an international team of 20 finance professionals working for Cisco, an account with 10 million square feet and a $130M+ operating budget. Carl holds a BSBA in Accounting from the University of Notre Dame and an MBA in Finance from DePaul University. He also has an active California CPA license.”

“Chief Executive Officer Carrie Nikols leads loan origination, underwriting and servicing for the Fund. She has over four decades of commercial real estate experience and has led Nikols Mortgage Fund since 2008, closing over $1.4 billion of loan commitments. Carrie’s commercial real estate experience ranges from institutional permanent lending and large balance bridge loans to smaller bank and private money construction and tailored transactions. As the top producing Region Manager for DaimlerChrysler Capital Services, Carrie originated and was responsible for a portfolio of $10 to $75 million highly leveraged commercial property bridge loans, all handled as agreed with no defaults. She has also pioneered various loan structures and product types including mezzanine loans, tax-exempt bond letter of credit enhancements with taxable tails, assisted living facilities, self-storage facilities and single-tenant biotech properties. Carrie has also written approximately 50 income property and residential subdivision appraisals as a state certified appraiser and MAI candidate. Carrie serves on the Advisory Board of the UCI Center for Real Estate and the Councils of ULI’s Capital Markets group and Women’s Leadership Initiative. Carrie & Don Nikols are also benefactors of St. Michaels Abbey in Silverado, CA and have served as Chairs of the Stewardship Committee at St. John the Baptist Catholic Church in Costa Mesa. Carrie is on the Consultative Board of St. John the Baptist Catholic Church Parish School, is a regular Sunday lector at St. John the Baptist, and is a Dame in the Order of Malta. She holds a California Real Estate Sales license and graduated Magna Cum Laude from the University of Southern California with a Bachelor of Science Degree in Business Administration-Real Estate Finance.”

“Executive Vice President, Originations & Underwriting Chris works closely with Carrie Nikols on the loan origination side of the business, reviewing, underwriting and proposing structures for all incoming opportunities. Prior to joining Nikols, Chris served as Vice President, Loan Originations in the Los Angeles office of Centennial Property Finance (owned by Centennial Bank based in Arkansas). Prior to that he was Senior Associate at Pilot Real Estate Group, a $100M family office based in Greenwich, CT seeking high risk-adjusted returns from lower middle-market credit, transitional assets and development opportunities on both the debt and equity side. While at Pilot Chris identified, structured, underwrote and asset managed bridge loans as well as equity investments. Chris holds a Master of Science in Real Estate Finance & Investment from NYU’s Schack Institute of Real Estate and a Bachelor of Science degree in Business Administration from USC. Originations & Underwriting" />”

“Send a message Name Email Message SUBMIT The Nikols Company, Manager 4675 MacArthur Court Suite 500 Newport Beach, CA 92660 Don Nikols, Chairman of the Board/Founder (949) 474-8488 Email Don Nikols Carrie Nikols, Chief Executive Officer (949) 474-8666 Email Carrie Nikols Josh Stude, Executive Vice President, Chief Underwriter (949) 996-3702 Email Josh Stude --> Chris Geletka, Executive Vice President, Originations & Underwriting (949) 474-7011 Email Chris Geletka Adam Deermount, Executive Vice President, Portfolio Manager (949) 996-4674 Email Adam Deermount THINK Together The Nikols Company is pleased to make a contribution from the proceeds of each loan to THINK Together, providing high quality academically-oriented after school programs for K-12 students regardless of race, creed, or socioeconomic status. www.thinktogether.org Loans made or arranged pursuant to a California Financing Law license. The Nikols Company – CA DFPI CFL License No. 603F101 Nikols Mortgage Fund, LLC – CA DFPI CFL License No. 603F152 ©2026 The Nikols Company”

“Construction Progress Inspector Project Cost Analyst Dennis and his team at Financial Construction Inspections, Inc. (FCI) began conducting all Fund construction progress inspections and project cost analyses in 2019 when Robert Lascelles who had done the Fund’s construction progress inspections since 2014 moved to Washington State. Dennis founded FCI in 1992 after 9 years with Security Pacific National Bank as VP/Construction Inspector for the Southern California, Arizona, Colorado & New Mexico areas. His experience includes large shopping malls, master planned residential developments, a hangar / training facility for a major air carrier, a $115,000,000 apartment project in Marina del Rey and a $75,000,000 high rise apartment complex in downtown San Diego. Prior to his construction progress and cost analysis work Dennis put in 12 years of direct construction experience for residential, commercial and industrial projects.”

“Dennis Carpenter Construction Progress Inspector Project Cost Analyst”

“Chairman of the Board & Founder Don Nikols leads the investor side of Nikols Mortgage Fund, LLC, which he founded in 2007. In his role as chairman of the board, he oversees aggregation of capital and investor relations. His real estate career, which spans more than four decades, includes institutional and private money lending, entrepreneurial real estate development and brokerage of all types of capital from loans to project equity. Since 2005, his sole focus has been private money lending including over $1 billion in fundings primarily in Southern California. As a principal he has formed numerous profitable development partnerships for apartments, condominiums, planned unit developments, single-family residences and retail shopping. As a broker he has arranged equity capital, preferred equity capital, equity-participating mezzanine debt, equity-participating 2nd trust deeds, structured finance transactions, construction loans and adjustable and fixed rate loans for development, renovation, purchase and refinance of individual project capitalizations ranging from $500,000 to in excess of $50 million. Carrie & Don Nikols are benefactors of St. Michaels Abbey in Silverado, CA and have served as Chairs of the Stewardship Committee at St. John the Baptist Catholic Church in Costa Mesa. Don is on the consultive board of St. John the Baptist Catholic Church Parish School and is a regular Sunday lector at St. John the Baptist. Don has served as Chaplain for Boy Scout Troop 911 in Huntington Beach, CA and is a Knight in the Order of Malta. Don is a licensed California Real Estate Broker and licensed California General Contractor (B-1). He earned a Bachelor of Science degree in Business Administration-Accounting from California State University Northridge and holds a Certificate in Investment Real Estate from University of California Irvine.”

“The Nikols Company is led by Carrie and Don Nikols, who have over 4 decades each of California-based real estate experience. Their expertise allows us to deliver lending opportunities with solid investor returns and minimal risk. As CEO, Carrie Nikols has over four decades of commercial real estate experience and has led Nikols Mortgage Fund since 2008, closing over $1.4 billion of loan commitments. Don Nikols is Chairman of The Nikols Company and leads the investor side of Nikols Mortgage Fund, LLC, which he founded in 2007. Don has maintained a 95+ percent investor retention rate and is pleased to provide investment returns well in excess of publicly traded and bank interest bearing investments. The rest of our small, nimble team ensures we make good on our track record of zero loan losses ever. You can meet everyone HERE. VIEW REPRESENTATIVE DEALS”

“Tustin, CA This loan facilitated the separate acquisitions of the leasehold improvements as well as the leased fee land for a 69,930 square-foot leased multi-tenant industrial building and retail pad needing re-tenanting. The retail pad was leased to Quick Quack Car Wash and the loan was extended to allow the Borrower time to subdivide the site into two parcels. The business plan is to sell the retail and industrial components of the site separately once parcelization is completed.”

“Van Nuys, CA This loan facilitated the acquisition of seven industrial warehouse/distribution buildings totaling 99,906 square feet located at the Van Nuys airport in the city of Los Angeles. The business plan was to sell the buildings off separately for a significant profit above the original sales price. NMF closed this complicated loan in 28 days.”

“San Juan Capistrano, CA This loan paid off a land loan and facilitated the construction of 12 townhomes in the infill and highly supply constrained San Juan Capistrano market. The business plan is to sell the units off individually once completed.”

“Nikols Mortgage Fund, LLC (“the Fund”) was formed in 2007 to make conservative commercial real estate bridge loans that provide investors with returns well in excess of publicly traded and bank interest bearing investments. Since its inception, the fund has enjoyed a 95+% retention rate while still adding new investors to the pool. We consider it a great compliment when someone chooses to entrust us with their savings, and stewardship of our investors’ capital is always our first concern. BENCHMARK RETURNS NMF Return* vs. 2-Year Treasury YTM and Baa Corporate YTM Historical Annualized Returns Since 2017 9% 8% 7% 6% 5% 4% 3% 2% 1% 0% 2017 2018 2019 2020 2021 2022 2023 2024 2025 2-Year Treasury Return Baa Corporate Bond Return NMF Return *Assumes reinvestment Source: Federal Reverse Bank of St.Louis *Assumes reinvestment -->”

“Loans made or arranged pursuant to a California Financing Law license. The Nikols Company – CA DFPI CFL License No. 603F101 Nikols Mortgage Fund, LLC – CA DFPI CFL License No. 603F152”

“The Nikols Company, Manager of Nikols Mortgage Fund, LLC makes real estate bridge and construction loans on properties in California. We focus on $5-40 million loans that are frequently below the radar of institutional lenders, which allows us to provide our borrowers with flexible alternatives to conventional lending institutions. We’ve closed over $1.4 billion in new loan commitments since our inception and we’ve had zero loan losses ever.”

“Real Estate Attorney Mike Simondi has documented almost every loan that the Fund and all related Funds have closed since the Fund’s 2007 inception. Prior to forming Michael P. Simondi & Associates in 1996, he was Partner-In-Charge for Real Estate for the Orange County Office of Morgan Lewis & Bockius; Partner for Real Estate for the Orange County Office of Memel, Jacobs & Ellsworth; and Associate for Real Estate and Tax for the Orange County Office of Meserve, Mumper & Hughes. He was also Tax Accountant for Price Waterhouse & Co. and Arthur Young & Co. Mike holds a J. D. from University of California, Hastings College of Law; an M.B.A. from University of California Berkeley, Accounting Emphasis; and a B.S. from University of California Berkeley, Accounting Emphasis. He and his wife, Stacy Simondi, CPA, have been investors of the Fund since 2008.”

“Our small team is experienced and agile, which enables us to make decisions rapidly and stick to them. Our “yes” is “yes”, which is why our loan portfolio is mostly comprised of repeat borrowers .”

“100% owned by its investors Monthly income distributions Conservative loans with 1st trust deed collateral Short-term loans limit market exposure Diversified portfolio of commercial loans across California”

“Senior Vice President, Loan Administrator”

“Senior Vice President, Loan Administrator Penny is responsible for processing, coordinating and closing new loans as well as modifying and monitoring existing ones. She liaisons with title and escrow, borrower and lender counsel, brokers, third-party vendors and F&M bank, the Fund’s credit line lender. Before joining Nikols, Penny spent 15 years at KBS Realty Advisors, a publicly traded REIT based in Newport Beach, as a senior closing associate. She also worked as a real estate and corporate paralegal at The Steak n Shake Company and spent years working at title and escrow companies, including First American Title Company and Chicago Title Company. Penny holds a Bachelor of Arts degree in Arts History from the University of California, Santa Barbara.”

“Our loan approval process is practical instead of rules-based. There are no minimum Sponsor credit guidelines or maximum loan-to-cost rules. Our appraisals are performed by experts we know in the relevant asset class and location, and we can close on a verbal valuation.”