| Most recent Comments - Prudential Mortgage Capital | ||
|---|---|---|
| Date | Deal | Comment |
| 10/21/2015 | Rivergate - Senior Lender List | Passed - \"This one is a bit too far outside the box for our construction program. Think of us for DC, Arlington (R-B corridor) and on-metro locations in Maryland\" -- duke |
| 10/21/2015 | Rivergate - Senior Lender List | Sent initial email -- duke |
| 07/02/2015 | 1255 22nd Street | Call with Matt Borrelli. The two guarantees he asked about was a completion guarantee and a stabilization guarantee. I mentioned that HITT would be providing the completion guarantee, and that the families would be hiring best-in-class third party management to handle the leasing and day-to-day operations. One hurdle they have is that they have limited construction financing capacity, and without the families being existing clients of theirs, they will need to get comfortable with that. He mentioned that the last construction-to-permanent loan they did was at 170 bps over the 10 year treasury rate, with a bump of 50-60 bps during the two year construction period, resulting in an overall 220-230 bps range (today\'s 10 year rate was 2.38, so this would yield a fixed rate of 4.58% - 4.68%). He is aware of the timing, and has informed his construction manager that they need to focus on this, and make a decision to either get serious on it or pass. He will be back to me next week with an update -- duke |
| 06/24/2015 | 1255 22nd Street | 6/23/15 - left vm -- duke |
| 06/16/2015 | 1255 22nd Street | Good initial call with Matt Borelli. He offices in Ballston, and is very familiar with the area down there. They recently financed the Residences on the Avenue asset. He said they are typically restrained to 65% / 70% loan-to-cost, but are able to mark the land up to market. He really likes that area for residential, and liked the fact that we had some larger unit mixes. They would require a 100% completion guarantee, with a 25% repayment guarantee which could burn off according to some agreed upon thresholds being met. I sent him the financial model and the package, so he will be reviewing it and will be back to us with feedback. Working to set up a property tour over the next week or so. -- duke |
| 06/15/2015 | 1255 22nd Street | 5/6/15 - Initial email sent. Good call with Bryan McDonnell. He will review and be back to us shortly. They like construction to permanent loan programs. 5/29/15 - Left voicemail. 6/2/15 - Left voicemail. -- duke |
| 06/15/2015 | 1255 22nd Street | Bryan McDonnell has relocated to London. His voicemail directed us to Matt Barrelli for any DC deals. Left voicemail for Matt. -- duke |
| 06/11/2007 | 200 K Street | Viewed Website -- EmailMarketing |
| 06/11/2007 | 200 K Street | Opened Email -- EmailMarketing |
| 11/29/2006 | Eighty Points West (OLD) | Opened Email -- EmailMarketing |
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