1000 Museum Condo Inventory Loan

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Apollo Commercial Real Estate Finance, Inc.

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Ben Graydelete
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Date06/26/2020
Greenwich Coverage
E-teaser Status
CA Status
IOM Status
Term Sheet Status
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  • Term Sheets Received
  • Executed Confidentiality Agreement Received
  • Detailed Discussions
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Investment Criteria
Status for Deal Tracking Report (Most Recent Comment - Custom Comment )
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DEAL TRACKING COMMENTS
DateComment
09/29/20209/24/20 - LB & DA talked to Ben Gray; he has seen the project before, has been in the building; has loan on hotel 2 doors down. Apollo has been a condo lender, but in this market they are picky. They are first mortgage lender so look to be in less risky senior position, but will allow mezz. Ben said that at first look at our package, they would be interested at the $70 to $80 MM level with pricing in the L+400 to 500bp range (probably 1% LIBOR floor). We asked which mezz lenders they had a relationship with and he said Madison, RCG Longview, Brookfield, and Related or any top flight investment bank/fund -- lbaucom
09/29/20209/28/20 - DA sent an email to Ben Gray asking for indication of terms this week -- lbaucom