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Date	09/22/2015
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
10/21/2015	Sent initial email -- duke
10/27/2015	Left voicemail -- duke
10/28/2015	Call with Chuck Herndon. They have already placed most of their allocation to construction loans for 2015, and as such they are a bit hesitant to take a run at a deal this large until they receive an indication as to what their allocation will be for 2016. Of the construction funds they have remaining in their 2015 allocation, much of that is currently being reserved for existing clients of the bank. They should receive their 2016 allocation number sometime in December, but it could potentially drag out to January. If they were to take a run at this one, they would want to be the lead bank and their pricing would likely be 275-300 bps over libor with some limited recourse that could burn off upon achieving certain hurdles. For non-recourse financing they typically top out around 50-55% loan-to-cost. -- duke
12/04/2015	Passed - While they are still determining the final allocation for construction in 2016, he did receive notice that their appetite for construction would be very limited in 2016, and their primary focus will be to satisfy the needs within their existing client portfolio. -- duke

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