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Date	10/16/2014
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 )
10-21-14 - Call with Matthew Drummond - He has made a few calls/done some market research. He thinks it looks interesting, but their interest would be as a preferred position. They can go up as far as 92-95% of the capital stack, and suggested 94% for this one (Approx. 80x20 deal on the equity side back with PRP). They need to hit a 1.7x multiple, and would target mid to high teens total returns. They have done and continue to do straight equity, but he doesnt think they would do it for a condo deal. Their pref. equity does not have a current pay (it can accrue), and they would look for an 11% pref.

Insert Comment

DEAL TRACKING COMMENTS
Date	Comment
10/22/2014	10-21-14 - Call with Matthew Drummond - He has made a few calls/done some market research. He thinks it looks interesting, but their interest would be as a preferred position. They can go up as far as 92-95% of the capital stack, and suggested 94% for this one (Approx. 80x20 deal on the equity side back with PRP). They need to hit a 1.7x multiple, and would target mid to high teens total returns. They have done and continue to do straight equity, but he doesnt think they would do it for a condo deal. Their pref. equity does not have a current pay (it can accrue), and they would look for an 11% pref. -- duke
10/24/2014	10-23-14 - DF sent Matthew Drummond the excel model. -- duke

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