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Fund launches tender offer for stake in United Development Funding IV

SCM SPECIAL FUND 3 LP has launched a tender offer topurchase up to 1.5 million UnitedDevelopment Funding IV common shares for $1.50 per share in cash.

The offer expires at 11:59 p.m. PT on Dec. 2, unlessextended. The offer to purchase is not conditioned upon any minimum number ofshares being tendered.