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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
11/02/2015	Sent initial email to Syed (on Peter Jahn's team) -- duke
11/04/2015	Good call with Syed (on Peter Jahn's team). They are involved in the ownership of the Enclave at Potomac Club, and like the area down there. They only offer fixed rate loans, and the shortest term they would do would be 7 years (3 construction interest-only, and 4 years of mini-perm). They generally require some level of recourse which burns off after certain leasing milestones, and don't tend to allow mezzanine financing behind them so we would need to structure it as preferred equity/equity. As well, they typically top out at 65% LTC. They like the loan size as their construction loans tend to be between $20 - $100 million. He will continue to dive into the book, and asked that I circle up on my end to see if IDI would consider a 7 year loan. -- admin
12/15/2015	Passed - On both equity and debt. From the equity perspective, they are over their allocation to DC apartments and thus, are extremely picky. At this point, they are only looking at core, in-fill locations in the District and R-B Corridor. From the debt perspective, their proceeds are maxed at 65% of cost and they can’t price it without knowing how the equity is capitalized. In addition, our construction audit team is a bit maxed out as well. -- duke
03/01/2016	left vm -- duke

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