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Capital Structure: Projects that have a sufficient sponsor equity contribution will receive more interest than those projects looking to move aggressively up
leverage curve.
Entitlements: Projects that are fully entitled and permit ready will attract more interest than early stage projects.
Market Feasability: How many units are you building vs. how many competitive units are currently available for sale. How many competitive units are coming online during
time period that your project is being built and how many units does
market absorp each year? What are your per square foot sales prices, how do they compare to
market, and is your location, construction quality and ammenity package in line with that of comparably priced projects?
Marketing: Who is going to sell your units and do they have a strong track record of selling condos within
market you are building in?
Presales: What type of presales have you been able to generate? The higher
percentage of presales,
more are lender interest you will attract.
The bottom line is that good projects from good sponsors will always receive interest from
capital markets.

Mike Myatt is Executive Managing Director of Pacific Security Capital, a leading commercial real estate investment banking firm providing commercial real estate loans, structured finance, investment sales and advisory services. Contact Pacific Security Capital at 1-800-844-6085 or by visiting the company website at www.PacificSecurityCapital.com