Deal Tracking Report - Artena Apartments - Mezz/Pref. Equity (edit, Deal Management)

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-- Owner / Developer

-- REIT/Public Corporation

-- Professional Services Firm

-- Capital Source

-- -- Debt Groups

-- -- -- Permanent Financing

-- -- -- Bridge Financing

-- -- -- Construction Financing

-- -- -- Mezzannine Financing

-- -- Equity Groups

-- -- -- 1st Tier - $10M & Up

-- -- -- 2nd Tier - Mid Market ($2 - $10M)

-- Other

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-- -- East Coast

-- -- West Coast

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#CoverageCompany / FirmComments/Status
Term Sheets Received
No result
Executed Confidentiality Agreement Received
No result
Detailed Discussions
No result
Initial Discussions
No result
Groups that have Passed
1-Baupost Group LLC, The (edit) (deal info)

1/31/23 - Too small

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No result
2-Beach Point Capital (edit) (deal info)

2/3/23 - Typically fill in 20% of the capital stack - 60 to 80% or 55 to 75% LTC. Also need a stabilized debt yield of 7.5% minimum.

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No result
3-Centerbridge (edit) (deal info)

2/8/23 - Can only get up to 70% LTC

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No result
4-Dwight Mortgage Trust (edit) (deal info)

2/1/23 - Need to get to an untrended ROC of 6%+

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No result
5-PGIM Real Estate Finance (edit) (deal info)

2/1/23 - Tough for them to stand behind 11% money

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No result
Uncategorized
1-AFC Gamma (edit) (deal info)

2/3/23 - Reviewing materials

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No result
2-Artemis Real Estate Partners (edit) (deal info)

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No result
3-Basis Investment Group, LLC (edit) (deal info)

2/1/23 - Sent materials.

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No result
4-DAVIDSON KEMPNER INSTITUTIONAL PARTNERS, L.P. (edit) (deal info)

1/30/23 - Sent materials. Call arranged for 2/1

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No result
5-LoanCore Capital (edit) (deal info)

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No result
6-Monach Alternative Capital (edit) (deal info)

1/30/23 - Information sent to Joshua Acheatel

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No result
7-NYMT (edit) (deal info)

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No result
Most Recent Comments - Artena Apartments - Mezz/Pref. Equity
DateCompanyComment
02/08/2023Centerbridge Can only get up to 70% LTC -- pwitham
02/03/2023AFC GammaReviewing materials -- pwitham
02/03/2023Beach Point Capital Typically fill in 20% of the capital stack - 60 to 80% or 55 to 75% LTC. Also need a stabilized debt yield of 7.5% minimum. -- pwitham
02/01/2023Basis Investment Group, LLCSent materials. -- pwitham
02/01/2023PGIM Real Estate FinanceTough for them to stand behind 11% money -- pwitham
02/01/2023Dwight Mortgage TrustNeed to get to an untrended ROC of 6%+ -- pwitham
01/31/2023Baupost Group LLC, TheToo small -- pwitham
01/30/2023DAVIDSON KEMPNER INSTITUTIONAL PARTNERS, L.P.Sent materials. Call arranged for 2/1 -- pwitham
01/30/2023Dwight Mortgage TrustCall with Ian Hawk. Sent information. -- pwitham
01/30/2023Monach Alternative Capital Information sent to Joshua Acheatel -- pwitham