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greenlightmoney
68 Posts |
 Posted - 02/13/2008 : 3:16:40 PM
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Notes from Client:
We are developing a 99-unit luxury senior living apartment complex to include a wellness center as well as many other all-inclusive ammenities. We have obtained a commitment from a local bank for a construction loan in the amount of $18 million with the condition of putting down $3.6 million in equity (20%). We have allready put close to $500,000.00 in the project to obtain permits and engineering as well as necesary due-diligence to obtain loan ( all expenditures are verifyable). In addition we are putting up $1.6 million in assets including the subjects site. We have also obtained more than 1 hundred letters of intent on long-term leases upon completion of the project. We are currently seeking a Joint-Venture/ Equity Partner to bring $2 million in equity to fund loan and begin project. This is a great turn-key opportunity to capitalize on the aging baby boom trend we are seeing in the news on a daily basis.
Deal Snapshot:
1. We have 101 pre-leases signed as of todays date. The expressed interest and need for a project such as this is apparent within the community.
2. we have full co-operation from the city and chamber of commerce. (signed letters of reccomendation from chamber of commerce, judge, city, etc.)
3. the project site borders a senior activity center which provides FREE transportation to local events and activities for seniors which would be available to the tennants.
4. the project site also borders a city park which has recently been renovated and is also conducive to such a facility. the city spent millions in the renovation!
5. allready built and operational on site is a senior wellness center which provides allternative healing, a spa , a salon, and a bed& breakfast. owned by the development.
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dbentley
25 Posts |
Posted - 02/14/2008 : 08:05:05 AM
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| I may have someone that is interested in this deal however they would want a cash back at your next round of funding. Dependending on the length of time the monies are out would determine the ROI they would want back. If this deal is set up for 30-60 days to be re-funded from the bank we could keep the ROI down as much as possible. If your interested please send me an email: dbentley@loanhelpexperts.com |
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KHufford
5310 Posts |
Posted - 02/14/2008 : 08:25:33 AM
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Greenlight,
I have gone over your brief scenario request with my partners to see if it is something we could put together for you on an equity, JV side. I will let you know if we can. Thanks
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KHufford
5310 Posts |
Posted - 02/14/2008 : 12:03:06 PM
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Stewart,
Please call me, I will set up a conference call for us on this project. We would like to get some more info and we have experience with these. Thanks |
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swmsn
4205 Posts |
Posted - 02/14/2008 : 10:13:25 PM
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| I would like to take a look at this as well. Looks good so far instead of a JV you could just use a bridge. No matter what you call it your guys need money. Email me and I'll take your scenario to the UW and see what sort of terms they want to offer. I look fwd to hearing from you. |
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joe313
595 Posts |
Posted - 02/15/2008 : 06:53:24 AM
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Stewart,
Have you considered a hard money loan instead of a JV deal? It looks like something I could lend on, and while it may cost him in the short term, it will definitely save him a lot over using a JV partner.
Feel free to call me if you'd like to discuss the possibilities.
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reverse07
6 Posts |
Posted - 02/15/2008 : 10:22:29 AM
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Jumbo Reverse option - out of the box solution
1st option -If the owners of this project are over the age of 62 and their primary homes are worth $3 million...we could unlock approximately 30% or $900k with no payments.
2nd option - if owners are not 62, could look at parents are other family memebers who meet the age and home value requirements.
Just another option to throw on the table. |
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KHufford
5310 Posts |
Posted - 02/15/2008 : 11:00:16 AM
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Guys, this poster is gone..
I emailed him and posted here. No response. Very annoying whrn you try to help people and put something together for them just to see they probably dont have the deal in the first place..
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greenlightmoney
68 Posts |
Posted - 02/15/2008 : 11:26:34 AM
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The post if valid. I have responded to the people I wanted to.
quote:
Originally posted by KHufford
Guys, this poster is gone..
I emailed him and posted here. No response. Very annoying whrn you try to help people and put something together for them just to see they probably dont have the deal in the first place..
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KHufford
5310 Posts |
Posted - 02/15/2008 : 11:47:54 AM
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quote:
Originally posted by greenlightmoney
The post if valid. I have responded to the people I wanted to.
quote:
Originally posted by KHufford
Guys, this poster is gone..
I emailed him and posted here. No response. Very annoying whrn you try to help people and put something together for them just to see they probably dont have the deal in the first place..
I doubt that.
I was one of the only people to respond to you after I noticed nobody had said they could help you after a few days.
You should respond via email to people when they email you however. Its just tacky. If you post here and people try to put something together for you it is not spam and you waste peoples time.
Good luck with the project.
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greenlightmoney
68 Posts |
Posted - 02/15/2008 : 11:59:49 AM
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The second time you have made statements on information you could not possible have the facts for which to formulate the opinion. I receive many responses to my email that are not posted here.
If you think posting here requires that I use you if you respond you live in a fantasy world. Your unprofessionlism on this post would preclude any desire to work with you on this transaction or any others.
quote:
Originally posted by KHufford
quote:
Originally posted by greenlightmoney
The post if valid. I have responded to the people I wanted to.
quote:
Originally posted by KHufford
Guys, this poster is gone..
I emailed him and posted here. No response. Very annoying whrn you try to help people and put something together for them just to see they probably dont have the deal in the first place..
I doubt that.
I was one of the only people to respond to you after I noticed nobody had said they could help you after a few days.
You should respond via email to people when they email you however. Its just tacky. If you post here and people try to put something together for you it is not spam and you waste peoples time.
Good luck with the project.
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KHufford
5310 Posts |
Posted - 02/15/2008 : 12:06:36 PM
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quote:
Originally posted by greenlightmoney
The second time you have made statements on information you could not possible have the facts for which to formulate the opinion. I receive many responses to my email that are not posted here.
If you think posting here requires that I use you if you respond you live in a fantasy world. Your unprofessionlism on this post would preclude any desire to work with you on this transaction or any others.
quote:
Originally posted by KHufford
quote:
Originally posted by greenlightmoney
The post if valid. I have responded to the people I wanted to.
quote:
Originally posted by KHufford
Guys, this poster is gone..
I emailed him and posted here. No response. Very annoying whrn you try to help people and put something together for them just to see they probably dont have the deal in the first place..
I doubt that.
I was one of the only people to respond to you after I noticed nobody had said they could help you after a few days.
You should respond via email to people when they email you however. Its just tacky. If you post here and people try to put something together for you it is not spam and you waste peoples time.
Good luck with the project.
Unprofessionalism?
I just get sick of seeing these large commercial deals posted all the time and the OP never comes back to say anything. These are not easy and require research and time. I am not a spammer like some of the losers on here who just blast all the posts with the same tired responses. I actually have some conversations about your project with the people that fund these and was trying to assist you, thats what I emailed you. If you already lined something up just post back here and say that so people don't waste time on it, thats all.
No worries.
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swmsn
4205 Posts |
Posted - 02/17/2008 : 5:35:55 PM
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| Kyle I understand your frustration 100%. In this case Stewart did respond to people. I'm sure not just me, but he did email me on the 15th. Stewart, Kyle's cool, he's very straight fwd and sometimes in your face but seems to try and regulate some things on here and help out. Many times I get frustrated because I see a doable deal and I write reply something that I can help and give the poster some great advice. Then when you never hear anything, a thank you, or even just the chance to price the loan it gets annoying and frustrating. BUt thats part of the job. :) |
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KHufford
5310 Posts |
Posted - 02/17/2008 : 5:40:19 PM
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quote:
Originally posted by swmsn
Kyle I understand your frustration 100%. In this case Stewart did respond to people. I'm sure not just me, but he did email me on the 15th. Stewart, Kyle's cool, he's very straight fwd and sometimes in your face but seems to try and regulate some things on here and help out. Many times I get frustrated because I see a doable deal and I write reply something that I can help and give the poster some great advice. Then when you never hear anything, a thank you, or even just the chance to price the loan it gets annoying and frustrating. BUt thats part of the job. :)
Thanks Shawn! I guess we are both working Sunday? LOL. I referred another BO member to call you today on a deal. I got your back too man, you are probably the most thorough responder on commercial deals by far - keep it up.
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greenlightmoney
68 Posts |
Posted - 02/17/2008 : 5:55:38 PM
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I appeciate the heads up. But this isn't the place for him to discuss his frustration without first sending me an email venting is frustration. He started the venting here, so that is where I was forced to respond. I will talk with Kyle sometime this week. I have six $150M plus projects I am trying to put together packages on right now and just haven't had the time to call him. I will when I get a chance on Tuesday or Wednesday.
quote:
Originally posted by swmsn
Kyle I understand your frustration 100%. In this case Stewart did respond to people. I'm sure not just me, but he did email me on the 15th. Stewart, Kyle's cool, he's very straight fwd and sometimes in your face but seems to try and regulate some things on here and help out. Many times I get frustrated because I see a doable deal and I write reply something that I can help and give the poster some great advice. Then when you never hear anything, a thank you, or even just the chance to price the loan it gets annoying and frustrating. BUt thats part of the job. :)
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KHufford
5310 Posts |
Posted - 02/17/2008 : 6:06:46 PM
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quote:
Originally posted by greenlightmoney
I appeciate the heads up. But this isn't the place for him to discuss his frustration without first sending me an email venting is frustration. He started the venting here, so that is where I was forced to respond. I will talk with Kyle sometime this week. I have six $150M plus projects I am trying to put together packages on right now and just haven't had the time to call him. I will when I get a chance on Tuesday or Wednesday.
quote:
Originally posted by swmsn
Kyle I understand your frustration 100%. In this case Stewart did respond to people. I'm sure not just me, but he did email me on the 15th. Stewart, Kyle's cool, he's very straight fwd and sometimes in your face but seems to try and regulate some things on here and help out. Many times I get frustrated because I see a doable deal and I write reply something that I can help and give the poster some great advice. Then when you never hear anything, a thank you, or even just the chance to price the loan it gets annoying and frustrating. BUt thats part of the job. :)
Honestly man, no worries at all. I was just saying what Shawn said already.
I am not really a major player in responding commercial scenarios. Thats is not my main focus like some other AE types on here. I just happened to think your scenario was interesting and we have a good amount of experience with assisted living facilities, thats all.
I hate the losers on here to just fire away at every deal saying "send it over!! I can do it!" Without actually reading it, going over it in detail and responding. Especially on the multi million dollar deals.
More often than not you will get a bunch of losers saying they can do it before they really know and it waters down the forum.
It seems like a lot of these get posted, people post back and the OP never comes back....thats all I meant, you don't owe me or anyone anything other than just hopefully responding back to at least say "hey thanks, I will contact the guys I want to", no worries.
Thanks
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directlending2u
436 Posts |
Posted - 02/17/2008 : 8:54:01 PM
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kyle you crack me up dude,
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