8000 Wisconsin Avenue, Bethesda, MD

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AIG INVESTMENTS

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Michael Schutzdelete
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Date07/29/2021
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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Status for Deal Tracking Report (Most Recent Comment - Custom Comment )
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DEAL TRACKING COMMENTS
DateComment
08/03/2021Followed up -- pwitham
08/05/2021Loan Amount: $90,500,000 / max 45% LTC / max 35% stabilized LTV Rate: 1 month LIBOR + 3.75% with a 0% LIBOR floor Application Fee: 75 bps GFD: 100 bps Term: 3+1+1 years Amortization: Interest only for first 3 years, then amortizing on 30 year basis during extension option periods Prepayment: Lockout for first 3 years, then open. Recourse: Non-recourse with typical carve-outs and environmental indemnity except for joint and several interest and carry guarantee and lien free completion guarantee. Guarantor will be subject to minimum NW and liquidity covenants that are TBD, but I would expect minimum liquidity to be at a minimum 10% of loan amount. -- pwitham
08/19/2021Loan Amount: $90,500,000 / max 55% LTC / max 45% stabilized LTV Rate: 1 month LIBOR + 4.75% with a 0% LIBOR floor Application Fee: 75 bps GFD: 100 bps Term: 3+1+1 years Amortization: Interest only for first 3 years, then amortizing on 30 year basis during extension option periods Prepayment: Lockout for first 3 years, then open. Recourse: Non-recourse with typical carve-outs and environmental indemnity except for joint and several interest and carry guarantee and lien free completion guarantee. Guarantor will be subject to minimum NW and liquidity covenants that are TBD, but I would expect minimum liquidity to be at a minimum 10% of loan amount. -- pwitham