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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 )
12/08/2015 - Spoke with Zach David. They would likely top out at 55-60% LTC on a non-recourse basis. I suggested he put forth a term sheet outlining what they could do on both a non-recourse basis, as well as a partial recourse basis and how that would look from a pricing and proceeds standpoint. He will be back to me Thursday or Friday with feedback.

Insert Comment

DEAL TRACKING COMMENTS
Date	Comment
10/21/2015	Sent initial email -- duke
11/12/2015	left voicemail -- duke
11/13/2015	Good conversation with Zach David. He is familiar with the area down in Woodbridge, as well as the IDI Group Companies. He used to be with the Peterson Companies for 13 years, and they worked on a few projects with IDI. He is going do dive into the details, and has requested the financial model as well as the market study which have been sent. Meeting has been scheduled for Tuesday 11-17-15 at our offices. -- duke
11/03/2015	left voicemail and requested meeting -- duke
11/10/2015	left voicemail for Zach David. -- duke
11/19/2015	11/17/2015 - Good meeting with Zach David. They could easily hold $50 million on their books, but would likely look to team with another bank on this one. While they have done 70% non-recourse in the past, today their bank is more conservative at 55-60% LTC. They are comfortable with having a mezzanine lender behind them, but would want to ensure it was a group they would approve of. They have done a lot of work with Federal Capital Partners. He asked who is the project manager from Kettler on this deal, and whether the completion guarantee/bad boy carveouts would be provided by a warm body, or an entity? -- duke
12/02/2015	left voicemail -- duke
12/08/2015	left voicemail ensuring he received our RFP email -- duke
12/08/2015	Call with Zach David. They would likely top out at 60% LTC on a non-recourse basis. I suggested he put forth a term sheet suggesting they could do 60% LTC on a non-recourse basis, as well as outlining what they could do on a recourse basis. He will be back to me Thursday or Friday with feedback. -- duke
12/14/2015	Shelved until January. In light of year end closings, their team does not have capacity at this time to dedicate to this transaction. -- duke

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