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Date	02/12/2015
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 )
06/15/2015 - Good call with Bill, he had been traveling but is now back in the office and focused on this. Bill was able to help get Jay through his initial concerns, and they are going to continue working on this. Jay is in Boston for the next few days, but Bill will be connecting with him and will try to be in a position by next week to put forth some indicative terms. Bill reiterated his interest in the project, and in that area for residential.

Insert Comment

DEAL TRACKING COMMENTS
Date	Comment
05/06/2015	Sent introductory email -- duke
05/07/2015	Left voicemail -- duke
05/08/2015	left voicemail -- duke
05/11/2015	Call with Jay, caught him at a bad time and asked I call him back on Wednesday morning. He did mention that some of their challenges out of the gate would be: 1) sponsorship - may require more equity in the deal; 2) His credit guys are not very high on multifamily at the moment; 3) Their max loan amount is $35 million, so they would need to club this with another bank. Sent him the package, and will follow up on Wednesday. -- duke
05/12/2015	Good call with Bill Brandt. He knows the site, and has done a few deals for the Augers. He's been through their Gettysburg hotels a dozen or so times. He said Jay tends to be a bit of a glass half empty guy, and that he felt pretty good about the Sponsorship, the area for multifamily, and he said they would likely be able to hold $45-50M on their books, but would need a syndication partner for a loan of this size. He said that of all of the multifamily projects he is looking at, that he thinks this one is the best, and that the ownership will likely "hit it out of the park". He did mention that he thought the stabilized debt yield was a bit thin, but would look into it further. He had also looked at 2501 M Street, and knows Paul Dougherty from PRP and did a deal with him down in Florida. Takeaway: they are going to take a hard look at this one. -- duke
05/27/2015	Sent follow-up email -- duke
05/29/2015	Call with Bill Brandt. They are still reviewing the materials. Jay Arvai's daughter is getting married tomorrow, and they are swamped next week. Discussed having a meeting the following week. -- duke
06/04/2015	Sent Bill an email trying to nail down a date next week for either lunch or a meeting at their offices -- duke
06/08/2015	Left voicemail -- duke
06/11/2015	Left voicemail -- duke
06/12/2015	Received email from Bill Brandt. He had been traveling, and suggested we circle up on Monday. I suggested we meet in person over coffee/breakfast/lunch. -- duke
06/15/2015	left voicemail -- duke
06/15/2015	Good call with Bill, he had been traveling but is now back in the office and focused on this. Bill was able to help get Jay through his initial concerns, and they are going to continue working on this. Jay is in Boston for the next few days, but Bill will be connecting with him and will try to be in a position by next week to put forth some indicative terms. Bill reiterated his interest in the project, and in that area for residential. -- duke
06/23/2015	Call with Bill Brandt. Targeting Thursday for a property tour. He will circle back once he's moved a few things on his calendar to confirm. -- duke
07/06/2015	Left voicemail -- duke
07/15/2015	Left vm -- duke

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