Cascades Overlook Refinance

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Citizens Bank

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Zach Daviddelete
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Date09/03/2021
Greenwich Coverage
E-teaser Status
CA Status
IOM Status
Term Sheet Status
Categories
  • 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
09/10/2021OM Sent -- pwitham
09/13/2021Followed up -- pwitham
09/21/2021Loan Amount: $36,000,000. Loan Sizing: As follows: (i) 65% LTV based on as-is appraised value; (ii) 1.25 DSC based on the following: in-place NOI; actual vacancy; 3.50% management fee; $0.20 psf reserves; 6.25% rate; 30-year schedule. Funding: Loan fully funded at closing. Term: Three years. Interest Rate: LIBOR + 2.50% (one month). LIBOR Floor: Zero percent. Loan Fee: 65 bps. Extension Options: Two 12-month options. -- pwitham