Deal Tracking Report

Coverage

Company / Firm

Comments/Status

Term Sheets Received

7/11/22 - • $42,575,000 Total loan o 65% LTPP o 1.30x in-place DSCR on locked rate • 10-year term term • 245 spread to 10-year swap • 3-years I/O followed by 25-year amortization • Non-Recourse • TBD reserve upfront • TBD replacement reserve • 0.50% origination fee

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No result

Barclays Capital (edit) (deal info)

8/11/22 - Loan Amount: $43,500,000 Term: 10 years Interest Only: 4 years Amortization: 30 years Debt Yield: 8.70% LTV: 67.0% DSCR: 1.25x (Amortizing) Pricing: 10 year SOFR Swaps + 335 RR: $.15 to $0.20/sf bend on Industrial / office sf TI/LC: $0.70/sf Upfront TILC: $750,000 (Upfront holdback and Cap, replenish at $0.70 psf if below cap) Other: - Terms subject to: a) the renewal of Advisory Board and Vicom Corp b) an executed Option Care Health lease with a holdback of any free rent

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No result

Basis Investment Group, LLC (edit) (deal info)

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No result

Benefit Street Partners (edit) (deal info)

7/28/22 - Proceeds: $37,000,000 Term: 10 Amort: 3 yrs IO, 30 yr amort thereafter Pricing: SOFR Swaps + 282 Max LTV: 60% Min DY: 9.25% Min DSCR: 1.35x Upfront TILC Reserve: $500,000

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No result

BH Properties (edit) (deal info)

7/19/22 - Proceeds/Price: $15,000,000 Initial Yield: 5.25% Year 1 Payment: $787,500 Annual Escalations: 2.50% CPI Resets: every 5 years

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No result

Citi Group Commerical Real Estate Finance (edit) (deal info)

8/11/22 - • $43.75 million loan amount • 10 year term • 30 year amortization • Rate = 10 year SOFR swap rate + 2.85% (5.40% rate today) • 65% Max LTV • 9.0% Min DY • $750k held back for TI/LC • TI/LC reserve replenished at $1.00 psf per annum once the reserve drops below $250k • 1.20x ongoing DSCR trigger

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No result

ReadyCap Commercial (edit) (deal info)

7/28/22 - -Loan Amount: $39,350,000 -Rate: 6.66% (Swaps+3.89%) Fixed -LTV: 60% Max -LTC: 60% Max -Debt Yield: 9.20% Min -DSC: 1.20x to 1.0 Min -Term: 10 years -Interest-Only Period: 10 years (up to 20% of UPB may be paid down in any consecutive 12-month period after loan closing) -Amort: 30 years (for sizing and DSC purposes only) -Rollover escrows: TBD -Prepayment Penalty: 10%-1% stepped down -Fee: Par -Recourse: Non-recourse with standard carve-outs

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No result

Starwood Capital (edit) (deal info)

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No result

Executed Confidentiality Agreement Received

No result

Detailed Discussions

No result

Initial Discussions

3650REIT (edit) (deal info)

7/7/22 - Sent email asking what other information they need

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No result

Calmwater (edit) (deal info)

7/5/22 - They offer 2-4 year loans at 600-700 over LIBOR

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No result

Mesirow Financial (edit) (deal info)

7/5/22 - Email sent to David Fischler and Andrew Mincus

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No result

Ocean First Bank (edit) (deal info)

7/27/22 - Sent to Amy Grutzner

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No result

Groups that have Passed

John Marshall Bank (edit) (deal info)

6/29/22 - Too large and outside of their primary area

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No result

Mesa West Capital (edit) (deal info)

7/7/22 - Sent email asking if they need additional information

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No result

Montgomery Street Partners (edit) (deal info)

7/6/22 - For our ground lease structure, we require the asset to be in a more infill location and newer vintage.

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No result

NATIXIS (edit) (deal info)

7/19/22 - Cannot get to the proceeds. Are coming in around $35M.

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No result

Potomac Business Services, LLC (edit) (deal info)

6/29/22 - Too large

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No result

Regions Bank (edit) (deal info)

7/11/22 - Not doing multi-tenant office

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No result

Safehold (edit) (deal info)

6/22/22 - Passing due to location and product type

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No result

Uncategorized

Atlantic Union Bank (edit) (deal info)

7/7/22 - Follow up email sent

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No result

Bank of america (edit) (deal info)

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No result

Cantor Fitzgerald/CCRE (edit) (deal info)

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No result

EagleBank (edit) (deal info)

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No result

Fulton Bank (edit) (deal info)

7/7/22 - Follow up email sent

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No result

Kawa Capital (edit) (deal info)

7/5/22 - Email sent to Clemente Beda

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No result

Morgan Stanley Mortgage Capital (edit) (deal info)

6/29/22 - Financing Memo sent but email was bounced back

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No result

Webster Bank (edit) (deal info)

6/29/22 - Financing Memo sent but email bounced back

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No result

WesBanco (edit) (deal info)

7/7/22 - Follow up email sent

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No result

Most Recent Comments - North Run Business Park
Date	Company	Comment
08/11/2022	Citi Group Commerical Real Estate Finance	• $43.75 million loan amount • 10 year term • 30 year amortization • Rate = 10 year SOFR swap rate + 2.85% (5.40% rate today) • 65% Max LTV • 9.0% Min DY • $750k held back for TI/LC • TI/LC reserve replenished at $1.00 psf per annum once the reserve drops below $250k • 1.20x ongoing DSCR trigger -- pwitham
08/11/2022	Barclays Capital	Loan Amount: $43,500,000 Term: 10 years Interest Only: 4 years Amortization: 30 years Debt Yield: 8.70% LTV: 67.0% DSCR: 1.25x (Amortizing) Pricing: 10 year SOFR Swaps + 335 RR: $.15 to $0.20/sf bend on Industrial / office sf TI/LC: $0.70/sf Upfront TILC: $750,000 (Upfront holdback and Cap, replenish at $0.70 psf if below cap) Other: - Terms subject to: a) the renewal of Advisory Board and Vicom Corp b) an executed Option Care Health lease with a holdback of any free rent -- pwitham
07/28/2022	ReadyCap Commercial	-Loan Amount: $39,350,000 -Rate: 6.66% (Swaps+3.89%) Fixed -LTV: 60% Max -LTC: 60% Max -Debt Yield: 9.20% Min -DSC: 1.20x to 1.0 Min -Term: 10 years -Interest-Only Period: 10 years (up to 20% of UPB may be paid down in any consecutive 12-month period after loan closing) -Amort: 30 years (for sizing and DSC purposes only) -Rollover escrows: TBD -Prepayment Penalty: 10%-1% stepped down -Fee: Par -Recourse: Non-recourse with standard carve-outs -- pwitham
07/28/2022	Benefit Street Partners	Proceeds: $37,000,000 Term: 10 Amort: 3 yrs IO, 30 yr amort thereafter Pricing: SOFR Swaps + 282 Max LTV: 60% Min DY: 9.25% Min DSCR: 1.35x Upfront TILC Reserve: $500,000 -- pwitham
07/27/2022	Ocean First Bank	Sent to Amy Grutzner -- pwitham
07/19/2022	BH Properties	Proceeds/Price: $15,000,000 Initial Yield: 5.25% Year 1 Payment: $787,500 Annual Escalations: 2.50% CPI Resets: every 5 years -- pwitham
07/19/2022	NATIXIS	Cannot get to the proceeds. Are coming in around $35M. -- pwitham
07/11/2022	Regions Bank	Not doing multi-tenant office -- pwitham
07/11/2022	A10 Capital	• $42,575,000 Total loan o 65% LTPP o 1.30x in-place DSCR on locked rate • 10-year term term • 245 spread to 10-year swap • 3-years I/O followed by 25-year amortization • Non-Recourse • TBD reserve upfront • TBD replacement reserve • 0.50% origination fee -- pwitham
07/07/2022	WesBanco	Follow up email sent -- pwitham

Deal Tracking Report - North Run Business Park (edit, Deal Management)