Financial information

United Development Funding IV and United Development

GRAPEVINE, Texas, Jan. 24, 2022 (GLOBE NEWSWIRE) — Awaiting appeal of the recent sentencing of two executives associated with United Development Funding IV (“UDF IV”) and United Development Funding Income Fund V (“UDF V”) and together the “Trusts”), the Trusts announced the following management and board changes effective immediately:

  • Jim Kenney was appointed Acting Chief Executive of UDF IV and UDF V and elected to the UDF IV Board of Directors as Managing Trustee
  • Stacey Dwyer has been appointed as Acting Chief Financial Officer of UDF IV and UDF V
  • Larry Jones was elected to the UDF V board of directors as an independent director; he will also be chairman of the board of directors of the two trusts
  • Hollis Greenlaw has resigned as trustee of both trusts

About United Development Funding IV

United Development Funding IV is a Maryland real estate investment trust. UDF IV was established primarily to generate current interest income by investing in secured loans and generating profits from investments in residential real estate. Additional information about UDF IV is available on its website at www.udfiv.com. UDF IV may disseminate material information regarding its operations, including financial information, via social media platforms such as Twitter, Facebook and LinkedIn.

About United Development Funding Income Fund V

United Development Funding Income Fund V is a Maryland real estate investment trust. UDF V was established primarily to generate current interest income by investing in secured loans and generating profits from investments in residential real estate. Additional information about UDF V is available on its website at www.udf incomefundv.com. UDF V may disseminate material information regarding its operations, including financial information, via social media platforms such as Twitter, Facebook and LinkedIn.

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