| Most recent Comments - KeyBank Real Estate Capital | ||
|---|---|---|
| Date | Deal | Comment |
| 11/10/2020 | Crossroads Village Center - Debt | Email sent -- pwitham |
| 12/08/2015 | Rivergate - Senior Lender List | left voicemail to set up the conceptual meeting with HUD -- duke |
| 11/20/2015 | Rivergate - Senior Lender List | Keybank believes this project might be perfect for a HUD 221D4 program which can go up to 83.3% of the capital stack and pricing would likely be in the 5.1%- 5.25% range, and would have a 40 year term (interest only during construction, and then 40 year fully amortizing note thereafter). The loan would be fully assumable with a 50 bps fee, and would likely have a lockout period followed up by a declining prepayment schedule through year 10. After the 10th year, the loan can be repaid with zero penalty. The loan also only requires a completion guarantee from the contractor, and bonding company. This loan would be classified as a large loan (>$75 million), and as such would require additional review from the HUD headquarters. The process could take a total of 5-6 months to close, but could potentially be expedited. The process is as follows: 1) KeyBank as a HUD servicer would schedule a concept meeting with HUD in early December; 2) 30-45 days for 3rd party studies and review (if we want to really expedite the process, we could engage these 3rd party studies prior to having the concept meeting with HUD); 3) Upon receipt of 3rd party studies it would be submitted to HUD and within 30 days we should receive a commitment from HUD at which point we would be able to lock the interest rate. Thereafter, it would take approximately 30-45 days to close the loan. As such, if we engaged them and arranged a concept meeting with HUD for the first week in December, we could potentially close by April/May. -- duke |
| 03/02/2015 | Johnson Village Apartments - Charlottesville | Jeff Hunkele is responsible for southern VA through the Carolinas. They really like the deal, and would structure it as a traditional 3 year construction loan with a cmbs/Fannie Mae/Freddie Mac/Life company takeout. This is right down the middle of their size range. 85% of their construction lending is multifamily. 75% LTC seems to fit their program. They would likely seek a full completion guarantee, repayment guarantee that burns down at C of O, and then again at stabilization. Requested a conference call with the client on Tuesday, March 3rd, 2015. -- duke |
| 03/02/2015 | Johnson Village Apartments - Charlottesville | PW sent summary details to Ken on 2.17.15 -- duke |
| 05/26/2010 | SeaCrest Tombstone | Opened Email -- EmailMarketing |
| 05/24/2010 | SeaCrest Tombstone | Opened Email -- EmailMarketing |
| 09/09/2008 | DREAM SoBe | Passed- Not hotel debt- 08/13/08 -- idreyzin |
| 04/30/2008 | Fredericksburg Blast | Opened Email -- EmailMarketing |
| 04/30/2008 | Fredericksburg Blast | Opened Email -- EmailMarketing |
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