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Date	07/10/2015
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 )

Insert Comment

DEAL TRACKING COMMENTS
Date	Comment
07/15/2015	Sent introductory email -- duke
07/17/2015	Spoke with Todd Grover who covers their west coast operations, and he suggested I reach out to his colleague Brian Horton based out of their Sunnyvale office as he covers SF and Silicon Valley for them. He suggested that they could meet our closing timeframe by the end of August assuming they liked the real estate and sponsorship. For a 65% loan on assets that can't cover their debt service, they would typically require 20% recourse. For non-recourse financing their funds would likely be 50-55% LTC. DF and TM left a voicemail for Brian Horton. -- duke
07/17/2015	Passed - While he is located within 3 miles of the properties, and likes the play, his bank would have to underwrite it based on the existing assets and in-place NOI. As such, they would likely be in the 45-50% LTC range. They will do construction, or transitional loans where there is enough capital in the budget to bring the asset up to productivity. They tend to target a 6-7% debt yield. He did however recommend we reach out to Charlie McGann over at City National on this one. -- duke

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