Rivergate - Mezz / Equity

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NorthStar Realty Finance

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Jason Bordenickdelete
Jonathan Shapirodelete
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Date10/27/2015
Greenwich Coverage
E-teaser Status
CA Status
IOM Status
Term Sheet Status
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DEAL TRACKING COMMENTS
DateComment
01/19/2016Spoke with Jonathan who mentioned that ground up construction is considered on a case-by-case basis, and typically only on the mezzanine or preferred equity front. He suggested I reach out to Jason Bordenick on their originations side. Left voicemail for Jason. -- duke
01/27/2016Left voicemail for Jason, and sent follow-up email. -- duke
01/27/2016Good call with Jason. Their funds would likely be priced around 14% for a transaction like this. Kettler manages a number of the assets that they own, so they are comfortable and familiar with them. They requested the market study and are diving into their underwriting. -- duke
02/01/2016Jason is at the MBA conference. I sent him an email to follow-up and see how their underwriting is progressing. -- duke
02/03/2016Passed - While Jason initially liked the story behind the local private/public initiatives underway in Woodbridge, in the end he was unable to gain traction internally for ground up development in that market. -- duke