Rivergate - Mezz / Equity

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Terra Capital Partners

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Adam Kiesdelete

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Date10/27/2015
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 )
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DEAL TRACKING COMMENTS
DateComment
11/25/2015Following a positive meeting with Adam Kies in NY on 11/11/15, he has continued to dive into the details. He was struggling to get to the $2.07 psf rents, but said even at his slightly discounted rents he was still able to make the numbers work. He is continuing to pour over the market study, and will be back with any additional questions. He suggested that the next step would likely be a conference call with the sponsor, and assuming conversations continue to progress, he would likely want to speak with Kettler or Noell Consulting Group to get a better handle on the local market. Will follow up after the holiday. -- duke
12/02/2015Spoke with Kathy and Adam is at a conference for until Friday. Sent Adam an email asking to touch base once he returns. -- duke
12/08/2015Sent email offering conference call with Kettler, IDI, or Noell -- duke
12/11/2015left voicemail following up regarding a call with Kettler, Noell, and IDI -- duke
12/14/2015Passed - They are running into an allocation issue for multifamily construction projects. They are closing on two deals before the end of the year, and those two projects have eaten into their current allocation. This could change if they receive some prepayment on other deals, but he is unable at this time to commit to a $13-$18 million facility to close by February. -- duke