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Date	02/12/2015
Greenwich Coverage
E-teaser Status
CA Status
IOM Status
Term Sheet Status
Categories	Term Sheets Received Executed Confidentiality Agreement Received Detailed Discussions Initial Discussions Groups that have Passed Uncategorized
Investment Criteria
Status for Deal Tracking Report (Most Recent Comment - Custom Comment )
6/8/15 - John Gunther-Mohr is out of the office until June 15th. His voicemail said to try his colleague Nick Maladi at (212) 692-2566. Left voicemail for Nick. 6/9/15 left voicemail for Nick. 6/15/15 left voicemail for John Gunther-Mohr.

Insert Comment

DEAL TRACKING COMMENTS
Date	Comment
05/08/2015	5/6/15 - Initial Email Sent -- duke
05/08/2015	left voicemail -- duke
05/29/2015	Call with John Gunther, they had a few of their loans close, and have a few more closing next week. As such, they may have capacity to look at this one. He will be reviewing the package, and will be back to us with any questions. -- duke
06/09/2015	6/8/15 - John Gunter-Mohr is out of the office until June 15th. His voicemail said to try his colleague Nick Maladi at (212) 692-2566. Left voicemail for Nick. 6/9/15 left voicemail for Nick. -- duke
06/15/2015	Left voicemail -- duke
06/30/2015	6/23/15 - Call with John. Likes the deal for the location and size of the loan. His first job was at 2100 M Street, NW so he is very familiar with the neighborhood, and likes the market. The loan-to-cost might be high for them as they target 65% LTC. Typically a recourse shop, requiring 10-20% repayment guarantee. Their pricing would be in the mid-200's over libor. They have done a few HVCRE loans in NYC , so they are familiar with it. They are closing two loans this week, so he may not be able to get back to us until next week. I sent him an email reiterating our timing, and encouraging him to still put forth some indicative terms. -- duke
07/06/2015	Left voicemail -- duke
07/08/2015	7/6/15 - Good call with John. They would be solving to an 8% debt yield, so based on our underwriting that would suggest approximately $75 million in proceeds. They have done a few HVCRE loans in NYC, and he said the pricing premium would likely be in the 25 - 100 bps range (lower end for existing major clients, and higher end for new clients/one-off deals). They would need to syndicate the loan, and as such the premium might be a bit higher depending on how the other bank looks at it. They would require 15%-20% recourse which could burn down over time. They have worked with preferred equity, and would be comfortable with it to fill the gap. His main question was whether or not the families would consider recourse, and what the family's financials looked like. Their pricing would likely be in the 250-270 bps over libor range. -- duke

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