CASE STUDIES

Esprit Park Condominiums

Loan Amount: $93,361,000 Closed: 4th Quarter 2006 Location: 900 Minnesota Street San Francisco, California
	Client: Build, Inc.
	Property: A to-be-built condominium project with 142 residential units, a 2,700 square foot café and 6,300 rentable square feet of office
	Assignment: Arrange highest possible leverage floating rate construction financing
	Challenges: Deteriorating residential condominium market High leverage request Largest project ever attempted by developer
	Results: $93,360,000 (95% LTC) Term: 30 months with two 6-month extension options Prepayment: partial releases with full repayment at par permitted at any time Liability: Completion and partial (25%) declining repayment guarantee