What does that mean?
Deal Executions
Lender Types
Know your Producers
The Market
100
These two metrics measure the maximum amount a loan can be, based on cost and value
LTV and LTC
(Loan-to-Value / Loan-to-Cost)
100
A Sponsor would look to get this upon buying a property
Acquisition Financing
100
The most conservative lender type
Insurance Companies
100
This producer was once a hair model
Lucas Borges
100
The amount of Originations in 2021
$737 Billion
200
What are the two components that make up an all-in rate?
Index + Spread
Index = Treasury/LIBOR/Swap
Spread = Lender Premium
200
This type of financing occurs on value-add deals, or properties in the middle of their business plan
Bridge Financing
200
This execution type has two primary lenders that compete against each other
Agency
Freddie Mac and Fannie Mae
200
This producer has over 20 bicycles and several classic cars.
Matt "Showy" Schoenfeldt
200
This metric is tied to insurance company spread pricing
Corporate Bonds 
300
What does GPR stand for?
(Think Multifamily)
Gross Potential Rent
300
A newly-built deal would get this type of financing
Construction Financing
300
This lender type traditionally goes higher into the capital stack, taking on more risk
Debt Funds
300
This is one of the newest producer in the office, who moved from New York
Phil Galligan
300
Lenders are dropping what sizing metric in order to push proceeds and LTV?
DSCR
When deals are constrained by DSCR, lowering the hurdle from 1.20 to 1.10 can push the ability to have higher proceeds
400
This fee is paid when a loan is paid off early
Prepayment Penalty
400
Loan Proceeds for this type of deal exceed the current outstanding loan balance.
Cash-Out Refinance
$50MM Outstanding Balance - $75MM New Loan = $25MM Cash Out
400
This type of lender (or execution) securitizes their loans, and sells them to Wall Street (Think the Big Short)
CMBS
(Commercial Mortgage Backed Securities)
400
This producer started as an analyst 15 years ago - and is now the Co-Head of the Office
Danny Kaufmann
400
As a result of a rising SOFR index, this has become exponentially more expense in the past 6 months
SOFR Interest Rate Cap
2.5% Strike Rate - 2 Year Cap - $50MM Loan
January 2022 - 23 bps ($115,000)
June 2022 - 148 bps ($740,000)
500
NOI / Loan Amount
Debt Yield
500
This type of debt execution is in addition to (on top of) senior debt
Mezzanine or
Subordinate Financing
500
This is the most traditional lender source
Banks
500
This Producer is a nationally ranked Platform Tennis player
Paul Smith (Columbus Office)
500
What is the 10 year Treasury today?
3.05%