Deal Tracking Report

Coverage

Company / Firm

Comments/Status

Term Sheets Received

No result

Executed Confidentiality Agreement Received

No result

Detailed Discussions

AIG Global Real Estate Investment Corp (edit) (deal info)

5/6/15 - Initial Email Sent. Left voicemail for Jesse Tejeda who TM has a relationship with.

	Print/Vcard/Email	Contact	Address
1		James Ellsworth 646-857-2283	32 Old Slip New York NY

Banco Santander/ Sovereign Bank (edit) (deal info)

7/8/15 - 7/6/15 - Good call with John. They would be solving to an 8% debt yield, so based on our underwriting that would suggest approximately $75 million in proceeds. They have done a few HVCRE loans in NYC, and he said the pricing premium would likely be in the 25 - 100 bps range (lower end for existing major clients, and higher end for new clients/one-off deals). They would need to syndicate the loan, and as such the premium might be a bit higher depending on how the other bank looks at it. They would require 15%-20% recourse which could burn down over time. They have worked with preferred equity, and would be comfortable with it to fill the gap. His main question was whether or not the families would consider recourse, and what the family's financials looked like. Their pricing would likely be in the 250-270 bps over libor range.

	Print/Vcard/Email	Contact	Address
1		John Gunther-Mohr (212) 692-2564	45 East 53rd Street, 10th floor New York NY

Bank OZK (edit) (deal info)

06/15/2015 - Call with Swede, they would likely look at this as a traditional non-recourse senior loan around 3.50% over libor with a Mezz piece above them. He will review, and try to get back to us this week or next on their status.

	Print/Vcard/Email	Contact	Address
1		Swede Hanson	Dallas TX

Berkadia (edit) (deal info)

06/15/2015 - Good call with Tyler. He used to be with Walker and Dunlop, and has done business with the Auger family, and knows Lance quite well as Lance was with Walker and Dunlop on their leasing side. Without my prompting, he mentioned a key to this play will be justifying/bumping up the land equity in order to keep the LTC down around 70/75%. He likes the location, and thinks for residential it would be a great location. Asked that I re-send him the package, and that he would be back this week with any questions.

	Contact	Address
1	Andy Coleman (301) 202-3550	7500 Old Georgetown Road Bethesda MD
2	Mark McCool (215) 328-3200	118 Welsh Road Horsham PA
3	Tyler Blue	7500 Old Georgetown Road Bethesda MD

Canyon Capital Realty Advisors (edit) (deal info)

5/6/15 - Initial email sent. 5/29/15 - Left voicemail 6/15/15 - Left voicemail

	Print/Vcard/Email	Contact	Address
1		Jacob Feingold

Capital Source (edit) (deal info)

05/29/2015 - Spoke with Jason Baker to tell him that we would consider a bifurcated loan. He is going to review the underwriting with his Bethesda office and be back to us next week. 6/8/15 - Left Voicemail.

	Print/Vcard/Email	Contact	Address
1		Donald Kelly III (941) 309-5322	1990 Main Street Suite 750 Sarasota FL
2		Jason Baker	10250 Constellation Blvd Los Angeles CA

Cardinal Bank (edit) (deal info)

5/12/15 - Not able to do the entire loan, but would be interested in a piece of a syndicated loan. Their maximum loan amount is around $25-$30M.

	Contact	Address
1	Dennis Griffith (703) 584-3500	8270 Greensboro Drive, Suite 500 McLean VA
2	F. Kevin Reynolds	8270 Greensboro Drive McLean VA
3	Richard Schoen

CIM Group (edit) (deal info)

5/22/15 - Had a good tour of the property with Terra and Adam Gibbons. They like the asset, and think it is a strong location for residential. Terra Requested on 6/5/15 that I send them the financial model, as well as floor plans that correspond with each unit as they are going to create a very granular set of revenue assumptions. I sent those over on 6/5/15. Left voicemail for Terra on 6/10/15

	Print/Vcard/Email	Contact	Address
1		Adam Gibbons	4700 Wilshire Blvd. Los Angeles CA
2		Kyle Early	4700 Wilshire Blvd. Los Angeles CA

Delaware Life (edit) (deal info)

5-21-15 - Delaware Life purchased Sun Life a few years ago. They do like construction loans, but unfortunately are a little heavy on construction pipeline deals at the moment. They don't know if the other deals will materialize, but he mentioned he would be circling up internally at their investment committee meeting on 5-26-15 to determine if they might have further interest in taking a run at this one. He likes the location, and the loan size. They have been underwriting the St. Regis is downtown DC. They are capable of doing very large loans, and are looking at two San Francisco deals with loan sizes of $300+ million each. Most of their construction loans are typical construction loans, but they do prefer to do the construction-to-permanent loans.

	Print/Vcard/Email	Contact	Address
1		Steve Prinn	Reservoir Place, 1601 Trapelo Road Waltham MA

EagleBank (edit) (deal info)

06/10/2015 - Good tour with Ryan Segars and Ashley Reiser. They both really like the residential play, and Ashley actually used to live on 22nd street, so she is very familiar with the area and the many amenities. She mentioned that they are interested in putting forth a term sheet, but that prior to doing so, would want to review the financials for the Tasea Investment Company, or whomever would be providing any of the guarantees. Also asked if we could send them the financial model, and I have sent it

	Contact	Address
1	Antonio Marquez	7830 Old Georgetown Road Bethesda MD
2	Kevjorik Jones
3	Ryan Segars

First Niagara Bank (edit) (deal info)

10/29/15 - Call with Marcy Fink on 7-10-15 - Their construction portfolio & allocation is pretty full at this time. Their allocation for the DC area is $35 million. They non-recourse financing tops out at 60% LTC and they would require a completion guarantee as well as an interest + carry guarantee until stabilized (not truly non-recourse). They don't know the sponsors so that would be difficult. They have seen HVCRE add 40-50 bps in pricing, and they had no problem with preferred equity above them, but potentially with mezz would.

	Contact	Address
1	David Raphaels
2	Marcy Fink	2001 Market Street, Suite 2610 Philadelphia PA
3	Paul Cronin

Guardian Life Insurance Company of America, The (edit) (deal info)

06/25/2015 - Spoke with Dan Maples. He apologized for being out of touch these past few weeks. They have been swamped, and he is still interested in seeing if they can do something on this deal. I made him aware of our timing concerns, and our desire to pick a horse in the near future. He will continue his review, and will be back to us on Monday with feedback. 6/30/15 - Left voicemail

	Print/Vcard/Email	Contact	Address
1		Daniel Maples	7 Hanover Square, New York NY
2		Matthew Brennan	7 Hanover Square New York NY

Guggenheim Commercial Real Estate Finance LLC (edit) (deal info)

05/18/2015 - Good call with Robb. He was out of town last week as his wife just had their 2nd baby girl. He is just now back in the office, and getting back into the swing of things. He likes the location, and thinks it is a pretty safe bet. GCREF owns a couple of life insurance companies that are doing construction financing, so he said he would circle up with those groups to see if there was appetite. He mentioned that some of their cost of capital tends to be a bit higher (Libor +800/900). None of their insurance companies have done construction-to-permanent financing in the past, but he did say they have been discussing it as a potential. He should be in DC sometime in the next month or two, and suggested we get together at that time.

	Print/Vcard/Email	Contact	Address
1		Robb Bryan (404) 585-2200	Atlanta GA

National Real Estate Advisors (NEBF) (edit) (deal info)

6/5/15 - Initial email sent. 5/29/15 - Good call with Mark McAllister. They could be interested in a preferred equity position. Pricing has a floor of 6.5%. They are they construction lender at the site adjacent to Hilton on Florida Ave which Lowe is building so they know the market fairly well. Will dig in and if they like it they will provide a term sheet by 3rd week of June. He is away on a 2 week vacation as its his 25th wedding anniversary.

	Print/Vcard/Email	Contact	Address
1		Kevin Verdi (202) 496 3370	900 7th Street, NW, Suite 900 Washington DC
2		Mark McAllister

Prudential Mortgage Capital (edit) (deal info)

7/2/15 - Call with Matt Borrelli. The two guarantees he asked about was a completion guarantee and a stabilization guarantee. I mentioned that HITT would be providing the completion guarantee, and that the families would be hiring best-in-class third party management to handle the leasing and day-to-day operations. One hurdle they have is that they have limited construction financing capacity, and without the families being existing clients of theirs, they will need to get comfortable with that. He mentioned that the last construction-to-permanent loan they did was at 170 bps over the 10 year treasury rate, with a bump of 50-60 bps during the two year construction period, resulting in an overall 220-230 bps range (today's 10 year rate was 2.38, so this would yield a fixed rate of 4.58% - 4.68%). He is aware of the timing, and has informed his construction manager that they need to focus on this, and make a decision to either get serious on it or pass. He will be back to me next week with an update

	Print/Vcard/Email	Contact	Address
1		Bryan McDonnell (571) 357 7848	4350 North Fairfax Drive, 7th Floor Arlington VA
2		Matt Borelli	4350 Fairfax Dr Arlington VA

Quadrant Real Estate Advisors LLC (edit) (deal info)

5/6/15 - Initial email sent. 5/13/15 - Left Voicemail. 5/29/15 - Left voicemail for David Morris. 6/2/15 - Good initial conversation with Dave Morris. They do not currently have anything in DC proper. They have some maturing loans in Bethesda and Alexandria so DC would be appealing to them. They also like and gravitate to high net worth family offices so this could be a good fit. Will review in more detail and be back with feedback towards the end of the week. 6/15/15 - Left voicemail

	Print/Vcard/Email	Contact	Address
1		David Morris
2		Denée Denney	12735 Morris Road Alpharetta GA

RBS Citizens (edit) (deal info)

6/5/15 - Initial email sent. Left Voicemail 5/13/15. 5/29/15 - Left voicemail. 6/2/15 - Left Voicemail. 6/8/15 - Requested that Larry reach out to his contact as we are not getting any kind of response from Doug Davidson.

	Print/Vcard/Email	Contact	Address
1		Douglas Davidson
2		Timothy Leon

Starwood Property Trust (edit) (deal info)

06/15/2015 - Good call with Kent, he will be traveling to London on Thursday for a week, but will try to dig in and give us some guidance prior to his departure.

	Print/Vcard/Email	Contact	Address
1		Kent Daiber	540 Madison Avenue New York NY

Sumitomo Mitsui Banking Corporation (edit) (deal info)

5/6/15 - Initial email sent. Left voicemail 5.13.15. 6/2/15 - Left voicemail.

	Print/Vcard/Email	Contact	Address
1		David Wasserman (212) 224-4147	277 Park Avenue New York NY

TD Bank (edit) (deal info)

7/15/15 - Left vm

	Print/Vcard/Email	Contact	Address
1		Bill Brandt	2070 Chain Bridge Rd. Vienna VA
2		Jay Arvai (703) 663-4418	2070 Chain Bridge Road Vienna VA

Truist (edit) (deal info)

Good meeting with Jeffrey Rubery and James Norton. The loan size is too big for them to do on their own. Would like to discuss teaming with M&T.

	Print/Vcard/Email	Contact	Address
1		Howard Dymond (202) 835-9333	8200 Greensboro Drive McLean VA
2		James Norton	1909 K Street NW Washington DC

ULLICO (edit) (deal info)

06/09/2015 - Call with Herb, while they have currently utilized their allocation to construction debt, he asked that I send him the package to review whether any of their other pockets have capital available. The job would need to be 100% union as that is where they get their capital. He knew Blackie Auger well, and was with Citi when they financed the construction of the Harold Square building for Ron Walton (thus knows him well). I sent him the package and the financial model. 06/10/2015 - Call with Herb, he said they do have some funds that they may be able to put into this due to a few loans of theirs being paid off. He suggested we look into how much of a premium it would cost to construct it 100% union, as the current 7.3% debt yield is on the low end of what they would typically underwrite. He will be traveling through July 4th, and suggested we circle back once he returns.

	Print/Vcard/Email	Contact	Address
1		Herb Kolben (202) 682-7923	8403 Colesville Rd Silver Spring MD

US Bank (edit) (deal info)

6/5/15 - Initial email sent. 5/29/15 - Good conversation with Jeff Geiffman. He is reviewing and will be back to us early next week with feedback. Hoping to set up a tour for late next week. 6/1/15 - Provisionally they think they would be at $66.5M Loan Proceeds, maybe slightly higher, L+250 burning down to L+200 at 1.25 DSCR. 100% Completion Guarantee and 25% Repayment Guarantee.

	Print/Vcard/Email	Contact	Address
1		Jeff Geifman	1650 Tysons Boulevard McLean VA
2		Walter Whitt (703) 442-5491	1650 Tysons Blvd. - Suite 250 McLean VA

Wells Fargo (edit) (deal info)

6/22/15 - Good call with Liz Anderson. She asked we send her the package, and she will circle up with Joe Carter internally to see where they are.

	Print/Vcard/Email	Contact	Address
1		Joseph Carter III 202-303-3016	1750 H Street Washington WA
2		Liz Anderson	DC

Initial Discussions

AEW Capital Management, L.P. (edit) (deal info)

	Print/Vcard/Email	Contact	Address
1		Daniel Jacobson

Annaly (edit) (deal info)

	Print/Vcard/Email	Contact	Address
1		Jeff Thompson

Apollo Commercial Real Estate Finance, Inc. (edit) (deal info)

	Print/Vcard/Email	Contact	Address
1		Ben Gray	9 West 57th Street New York NY

Colony Mortgage Capital, LLC (edit) (deal info)

	Print/Vcard/Email	Contact	Address
1		Robert Stanbrook

Federal Capital Partners (edit) (deal info)

7/8/15 - Good call with EJ Corwin. Tom Carr is one of their partners, and knows both families, as well as Ron. Tom speaks very positively of the development team, and the residential conversion play in this location, and as such would be interested in providing the gap financing. They are however, struggling to get to our imputed equity amount. Assuming a $70M senior loan, they would look at the $12M gap financing as the initial $6 million at 14% (any proceeds up to their calculated 85% LTC) and the remaining $6 million at 19-20% (so a blend of 17%).

	Print/Vcard/Email	Contact	Address
1		E.J. Corwin

iStar Financial (edit) (deal info)

	Print/Vcard/Email	Contact	Address
1		Tim Doherty

Mesa West Capital (edit) (deal info)

	Print/Vcard/Email	Contact	Address
1		Raphael Fishbach

Orix Real Estate Americas (edit) (deal info)

	Print/Vcard/Email	Contact	Address
No result

Oxford Properties Group (edit) (deal info)

	Print/Vcard/Email	Contact	Address
1		Varuth (Nu) Suwankosai	320 Park Avenue New York NY

Stancorp (edit) (deal info)

	Print/Vcard/Email	Contact	Address
1		Mark Temme (503) 321-6330	920 SW Sixth Avenue Portland OR

Groups that have Passed

AFL-CIO Housing Investment Trust (edit) (deal info)

5/6/15 - initial email sent - 5-11-15 - Left Voicemail. Passed - No longer doing debt. Only equity and need to be the majority equity. 100% Union needed.

	Print/Vcard/Email	Contact	Address
1		Jim Lingberg 202-499 5519	1425 K Street NW Washington DC

Bank of america (edit) (deal info)

05/11/2015 - Left Voicemail . 5/29/15 - Left Voicemail. Passed - too much exposure to construction at present. Also, do not know the ownership

	Print/Vcard/Email	Contact	Address
1		Mark Sharer 7037618192	8300 Greensboro Drive McLean VA
2		Paul Kinyon (703) 761 8134	8300 Greensboro Drive, Suite 300 McLean VA

BBVA Compass (edit) (deal info)

6/22/15 - Passed - Sizing of the loan would be difficult as their funds top out around $50 million. They cannot do construction-to-permanent loans, and their non-recourse capital tends to cap out at 50% LTC. As well, they have had a number of construction loans close, and as such they have limited capacity for further deals at this time. He manages the East region out of their Birmingham office, and their office has put out $1 billion this year thus far. They primarily lend from Florida to California, and have not been overly active in the DC region. For their recourse capital, it will typically be low 200's over libor, and would consider all asset types. They tend to hold onto loans for 5 years internally, so any term longer than that would be syndicated.

	Print/Vcard/Email	Contact	Address
1		Chuck Herndon (205)297-4934	15 S. 20th Street Birmingham AL
2		Kelly Corr

BlackRock Financial (edit) (deal info)

06/15/2015 - Passed - They have had a few construction loans hit in the past couple of weeks, and they need to digest those before taking on anymore.

	Print/Vcard/Email	Contact	Address
1		Mark Kramer	40 East 52nd Street New York NY

Capital One Bank (edit) (deal info)

05/13/2015 - Passed - Only doing construction loans with existing clients (and primarily larger corporations).

	Print/Vcard/Email	Contact	Address
1		Brian Gormley (703) 720-6734	1680 Capital One Drive McLean VA

China Construction Bank Corporation (edit) (deal info)

5-12-15 - Passed - They are starting their construction lending program later in the year, but will likely start with projects in New York where they have boots on the ground.

	Print/Vcard/Email	Contact	Address
1		John Weinshank (646) 781-2400	1095 Avenue of the Americas - 33rd Floor New York NY

CIBC World Markets (edit) (deal info)

5/6/15 - Initial email sent. Passed - non responsive.

	Print/Vcard/Email	Contact	Address
1		Barry Schumacher	300 Madison Avenue New York NY

Cigna Investment Management (edit) (deal info)

5-11-15 - Passed - No construction debt

	Print/Vcard/Email	Contact	Address
1		Michael Doyle (860) 226-6000	280 Trumbull Street Hartford CT

Deutsche Bank Commercial Real Estate Group (edit) (deal info)

6/23/15 - Passed - After reviewing the deal, his team determined that it was too small for their construction platform. They target upwards of $100 million for construction loans. If this were a bridge loan with minor renovations, they would look at something between $50-$75M.

	Print/Vcard/Email	Contact	Address
1		Pankil Doshi	60 Wall Street New York NY

First Commercial Bank (USA) (edit) (deal info)

06/09/2015 - Passed - While they do construction loans, their footprint in the US is restricted to California at this time.

	Print/Vcard/Email	Contact	Address
1		Johnny Hsin (626) 300-6000	200 E. Main St Almahambra CA

Goldman Sachs (edit) (deal info)

6/22/15 - Passed - Too small for their fund. They have a $50 million minimum for their pref. equity pieces.

	Print/Vcard/Email	Contact	Address
1		Matthew Higgins	200 West Street New York NY

Helaba (edit) (deal info)

5/6/15 - Initial email sent - 5.12.15 Doing very limited construction lending at this time and only to existing clients. This may change in a few months. Current focus is term loans on balance sheet - being aggressive on transitional loans and bridge.

	Contact	Address
1	Geoff Goldstein (212) 703-5267	420 Fifth Avenue New York NY
2	James Mirman
3	Robert Becker (212) 703-5300	420 Fifth Avenue New York NY
4	Thomas Crowley	420 Fifth Avenue New York NY

HSBC (edit) (deal info)

5/6/15 - Initial email sent. Passed - prefer deals with institutional borrowers.

	Print/Vcard/Email	Contact	Address
1		Eric Blumenthal (202) 496 8769	1401 I Street NW Washington DC

Industrial & Commercial Bank of China (edit) (deal info)

6/23/15 - Left voicemail for Sean

	Print/Vcard/Email	Contact	Address
1		Sean Liu (212) 838-7799	NY

JP Morgan (edit) (deal info)

5/6/15 - Initial email sent. 5/29/15 - Spoke at length to Roger Rofe. The existing loan with JP Morgan is with the Asset Management side (Private Banking) of the bank. They are not supposed to talk with each other as there are strict divisions within the organization and Chinese Walls need to be established. Unfortunately they are over allocated to construction loans in DC and would not be able to take on new loans for a new client so they are a pass.

	Print/Vcard/Email	Contact	Address
1		Roger Rofe (212) 648-2864	270 Park Ave - Floor 45 New York NY

KeyBank Real Estate Capital (edit) (deal info)

5/6/15 - Initial email sent - 5-11-15 - Left voicemail, 5-29-15 Ken Broussard called back, PW left voicemail. 6/15/15 - Left voicemail

	Print/Vcard/Email	Contact	Address
1		Kenneth Broussard 202-452-4907	1146 19th Street, NW Washington, DC

Landesbank Baden-Wuerttemberg (edit) (deal info)

06/09/2015 - Passed - While they do construction loans, and are looking at a few here in DC, they would not be able to do a construction loan of this size with two families they have never banked with before, and whom are not putting in additional cash equity into the deal. I suggested we could look at bringing additional equity to the table, but she said with their other loans down here, that they already have a pretty high exposure to DC residential.

	Print/Vcard/Email	Contact	Address
1		Lisa Komm	NY

LoanCore Capital (edit) (deal info)

7/8/15 - Passed - At this time they are holding off on launching their construction mezzanine lending program. Hope to have it rolled out and funding by the fourth quarter of this year.

	Print/Vcard/Email	Contact	Address
1		Jean Baker

M&T Bank (edit) (deal info)

5/6/15 - Initial email sent. 6/1/15 - LCB spoke with Kevin Kane. He is going to review and will be back to us shortly with questions. 6/15/15 - Left voicemail

	Print/Vcard/Email	Contact	Address
1		Kevin Kane
2		Stu Cooper

MetLife Real Estate Investments (edit) (deal info)

5-11-15 - Passed - Not doing construction loans

	Print/Vcard/Email	Contact	Address
1		R. Steven Taylor 202-659-6909	1620 L Street, NW Washington DC
2		Theresa Kloster (202) 659-6907	1620 L Street, NW Washington DC

Nationwide Real Estate Investments (edit) (deal info)

6/22/15 - Passed - Are not providing construction loans at this time.

	Print/Vcard/Email	Contact	Address
1		Scott Wilkie (614)249-1801	1 Nationwide Plaza Columbus OH
2		Todd Harrop (614) 249-9316	One Nationwide Blvd Columbus OH

New York Life Investments (edit) (deal info)

05/29/2015 - Passed - Their experience with the inboard bedrooms up in NYC causes them concern

	Contact	Address
1	David Li	51 Madison Avenue - 9th Floor New York NY
2	Mildred Nece (212) 576-6483	51 Madison Avenue - Room 906 New York NY
3	Richard Walsh (212) 576-5241	51 Madison Avenue - Room 906 New York NY

Northwestern Mutual Life Insurance (edit) (deal info)

5-11-15 - Passed - Bill Norton does not like the unit layouts. He saw a number of 2 BR units where some of the bedrooms did not have any windows. He thought the units were very deep in the first phase. He likes the West End submarket, but just couldn't get over the unit layouts. As well, he thought the 70% LTC was a bit on the high side for them.

	Contact	Address
1	Bill Norton (703) 269-6600	8444 Westpark Drive McLean VA
2	Peter Jahn (703) 269-6600	8444 Westpark Drive McLean VA
3	Syed Hyat (703) 269-6606	8444 Westpark Drive McLean VA

Pacific Life Insurance Company (edit) (deal info)

5/6/15 - Initial email sent. Left voicemail 5/12/15. 5/27/15 - Passed due to cash in the deal, floor plan layout and office conversion nature of the development.

	Print/Vcard/Email	Contact	Address
1		Mike Scafuri	1010 Lake Street, Suite 432 Oak Park IL

PNC Real Estate (edit) (deal info)

5/6/15 - Initial email sent. Good initial conversation with Casey Brill. He will start a detailed review and get back to us. 5/29/15 - Passed due to families not being prolific real estate developers and high rents which are difficult to underwrite.

	Print/Vcard/Email	Contact	Address
1		Casey Brill
2		Daniel Cunningham (202)912-3916	800 17th Street N.W Washington DC

Principal Financial Group (edit) (deal info)

5/6/15 - Initial email sent. Passed - The 70% LTC metric is too high and the 7.3% DY metric is too low for their construction lending parameters. They would need to be closer to 10%. Also, the loan would be too big.

	Print/Vcard/Email	Contact	Address
1		Jon Buenneke (515) 247-5078
2		Scott Pottebaum 515-235-6050	801 Grand Avenue Des Moines IA

Scotia Bank (edit) (deal info)

5-11-15 - Passed - Focusing now on loans with publicly traded companies.

	Print/Vcard/Email	Contact	Address
1		Mel Mandelbaum (416) 350 1177	40 King Street West, 55th Floor Toronto

SUNTRUST BANK (edit) (deal info)

6/22/15 - Passed - While he likes the office to multifamily play in that location, their group lacks experience working with the sponsorship, and as such are not able to get there on this one.

	Print/Vcard/Email	Contact	Address
1		Craig Lockhart

UBS Realty Investors LLC (edit) (deal info)

5/6/15 - Initial email sent. Left voicemail 5.13.15. 5/29/15 - left voicemail. 6/8/15 - Have requested that Larry reach out to Ron Urdanik. 6/23/15 - Not doing construction loans unless participating in equity.

	Print/Vcard/Email	Contact	Address
1		Ron Urdanick (860) 616-9000	242 Trumbull Street Hartford CT
2		Thomas Pierandri	242 Trumbull Street Hartford CT

United Bank (edit) (deal info)

5/6/15 - Initial email sent. 5.13.15 - Reviewing internally and will call tomorrow with questions. 5/29/15 - left voicemail. Would be too short in proceeds to put together a formal term sheet.

	Print/Vcard/Email	Contact	Address
1		Barbara Gertzog

USAA Real Estate Company (edit) (deal info)

5-12-15 - Still in the process of setting up their mortgage lending program, and will not start quoting direct business until July. Left voicemail to follow-up on timing of our project. 5/29/15 - Passed. Need to begin their program with smaller loans with known clients initially.

	Print/Vcard/Email	Contact	Address
1		Alex Rapoport	9830 Colonnade Blvd San Antonio TX

Voya Investment Management (edit) (deal info)

10/27/15 - Passed - They have limited amounts of construction money at this time. They target $40-$50 million construction loans with a minimum term of 10 years. They primarily do permanent loans between $10 - $100+ million.

	Print/Vcard/Email	Contact	Address
1		Eddie Green

Uncategorized

Alliance Capital Partners (edit) (deal info)

	Print/Vcard/Email	Contact	Address
1		Brian Goldberg (818)668-6800	Woodland Hills CA

Baupost Group LLC, The (edit) (deal info)

	Print/Vcard/Email	Contact	Address
1		Suleman Iddrissu (617) 210-8310	10 St. James Avenue Boston MA

Credit Agricole (edit) (deal info)

06/09/2015 - Left voicemail

	Contact	Address
1	Diane Scott (213) 362-5900	515 South Flower Street - Suite 2200 Los Angeles CA
2	Jason Chrein (212) 261-7856	1301 Avenue of the Americas New York NY
3	Jeff OBrien (212) 261-7000	1301 Avenue of the Americas New York NY
4	John Wain (212) 261-7000	1301 Avenue of the Americas New York NY
5	Joseph Asciolla (212) 261-7000	1301 Avenue of the Americas New York NY
6	Ronald Krolick (212) 261-7000	1301 Avenue of the Americas New York NY

RCG Longview (edit) (deal info)

	Print/Vcard/Email	Contact	Address
No result

State Farm Life Insurance Co (edit) (deal info)

06/09/2015 - Received voicemail from Paul Heller, he will be out of the office Tuesday and Wednesday, and has a slew of meetings on Thursday. As such, he suggested I call him on Friday - 6/12/15 - Left voicemail for Paul

	Print/Vcard/Email	Contact	Address
1		John Higgins (309) 766-9803	1 State Farm Plaza, E7 Bloomington IL
2		Paul Heller (309) 766-9828	1 State Farm Plaza, E7 Bloomington IL

Most Recent Comments - 1255 22nd Street
Date	Company	Comment
10/29/2015	First Niagara Bank	Call with Marcy Fink on 7-10-15 - Their construction portfolio & allocation is pretty full at this time. Their allocation for the DC area is $35 million. They non-recourse financing tops out at 60% LTC and they would require a completion guarantee as well as an interest + carry guarantee until stabilized (not truly non-recourse). They don\'t know the sponsors so that would be difficult. They have seen HVCRE add 40-50 bps in pricing, and they had no problem with preferred equity above them, but potentially with mezz would. -- duke
10/27/2015	Voya Investment Management	Passed - They have limited amounts of construction money at this time. They target $40-$50 million construction loans with a minimum term of 10 years. They primarily do permanent loans between $10 - $100+ million. -- duke
07/15/2015	Voya Investment Management	left vm -- duke
07/15/2015	TD Bank	Left vm -- duke
07/10/2015	First Niagara Bank	Left voicemail -- duke
07/08/2015	Guardian Life Insurance Company of America, The	left voicemail -- duke
07/08/2015	Banco Santander/ Sovereign Bank	7/6/15 - Good call with John. They would be solving to an 8% debt yield, so based on our underwriting that would suggest approximately $75 million in proceeds. They have done a few HVCRE loans in NYC, and he said the pricing premium would likely be in the 25 - 100 bps range (lower end for existing major clients, and higher end for new clients/one-off deals). They would need to syndicate the loan, and as such the premium might be a bit higher depending on how the other bank looks at it. They would require 15%-20% recourse which could burn down over time. They have worked with preferred equity, and would be comfortable with it to fill the gap. His main question was whether or not the families would consider recourse, and what the family\'s financials looked like. Their pricing would likely be in the 250-270 bps over libor range. -- duke
07/08/2015	LoanCore Capital	Passed - At this time they are holding off on launching their construction mezzanine lending program. Hope to have it rolled out and funding by the fourth quarter of this year. -- duke
07/08/2015	Federal Capital Partners	Good call with EJ Corwin. Tom Carr is one of their partners, and knows both families, as well as Ron. Tom speaks very positively of the development team, and the residential conversion play in this location, and as such would be interested in providing the gap financing. They are however, struggling to get to our imputed equity amount. Assuming a $70M senior loan, they would look at the $12M gap financing as the initial $6 million at 14% (any proceeds up to their calculated 85% LTC) and the remaining $6 million at 19-20% (so a blend of 17%). -- duke
07/06/2015	TD Bank	Left voicemail -- duke

Deal Tracking Report - 1255 22nd Street (edit, Deal Management)