From: "Mark Fisher" -a>
To: ' "
Subject:
Date: Fri, 30 Jul 2010 15:59:24 +0000
Importance: Normal
Jeffrey
I hope that all is well.
Are you making investments in highly discounted first mortgages on AAA performing trophy
properties?
For Example:
One of the top 5 office buildings in the US. Excellent financial performance.
3mm+ SF 750mm First Mortgage. 500mm+ equity below the mortgage.
Available for purchase: $185mm face value. Purchase price $135mm. $50mm discount to face. 7
3/4 current pay on 185mm = 10.5 current yield. 16% YTM. Maturity 2017.
85mm financing available at 8% plus 2% amortization.
Let me know.
All the best,
Mark
EFTA00737422