Page 12 - Watermark_Offering Memorandum_GSP
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LOAN
REQUEST
LOAN REQUEST
SENIOR BRIDGE LOAN REQUEST LOAN METRICS
Type Senior Bridge Loan Stabilized Net Cash Flow $5,473,084
Amount $80,921,971 Debt Yield 6.8%
Loan/Unit $323,688 Stabilized Value (4.5% Cap Rate) $121,624,079
Term 3+1+1 Stabilized Value Per Unit $486,496
Guarantee Non-Recourse with Standard Carve Outs Stabilized Loan to Value 66.5%
SOURCES & USES
SUMMARY S&U $ % PER UNIT
Senior Bridge Debt 80,921,971 100.0% 323,688
TOTAL SOURCES $80,921,971 100.0% $323,688
Senior Loan Refinance 45,300,000 56.0% 181,200
Mezzanine Loan Refinance 29,172,821 36.1% 116,691
Operating Reserve 476,313 0.6% 1,905
Senior Debt Origination Fee 809,220 1.0% 3,237
Investment Banking Fee 250,000 0.3% 1,000
Financing Closing Costs 404,610 0.5% 1,618
Senior Interest Reserve 4,509,007 5.6% 18,036
TOTAL USES $80,921,971 100.0% $323,688
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