[sheet: SNDA Tracker]
SNDA # | Property Name | Property Address | City | State | Property Type | Target Entity (LLC Name) | Loan ID | Lender | Lender Counsel | Tenant Name | Suite / Unit | Leased RSF | Annual Base Rent (ABR) | % of Total Portfolio ABR | SNDA Form Transmitted Date | SNDA Status | Tenant Execution Date | Lender Counter-Signature Date | Fully Executed | Post-Closing Carve-Out | Post-Closing Delivery Date | Notes
1 | Westlake Distribution Hub | 11500 Westlake Parkway, Houston, TX 77082 | Houston | TX | Logistics | GMP Westlake LLC | 1-C | Pinnacle Federal Bank, N.A. | Whitfield & Archer LLP | Cascade Supply Chain Solutions Inc. | Entire Building | 624000 | $8,736,000 | 11.7% | 2024-03-15 | Executed | 2024-04-22 | 2024-05-02 | Yes | No | Largest tenant by ABR; SNDA fully executed prior to closing
2 | Katy Freeway Logistics Park | 22600 Katy Freeway, Katy, TX 77449 | Katy | TX | Logistics | GMP Katy LLC | 1-D | Pinnacle Federal Bank, N.A. | Whitfield & Archer LLP | Zynvaro Distribution Holdings LLC | Entire Building | 538000 | $7,532,000 | 10.1% | 2024-03-15 | Executed | 2024-04-18 | 2024-04-29 | Yes | No | Second largest tenant by ABR
3 | Fairfield Logistics Center I | 4200 Fairfield Industrial Blvd, Fairburn, GA 30213 | Fairburn | GA | Logistics | GMP Fairfield I LLC | 1-A | Pinnacle Federal Bank, N.A. | Whitfield & Archer LLP | Thornton-Whitaker Pharmaceuticals Corp. | Entire Building | 412000 | $6,180,000 | 8.3% | 2024-03-15 | Executed | 2024-04-25 | 2024-05-08 | Yes | No
4 | SouthPark Corporate Center | 6200 Fairview Road, Charlotte, NC 28210 | Charlotte | NC | Office | GMP SouthPark LLC | 2-B | Veltrano Capital Lending Corp. | Cranford McCabe LLP | Birchwood Technology Group Inc. | Floors 3-8 | 218000 | $5,668,000 | 7.6% | 2024-03-15 | Executed | 2024-04-30 | 2024-05-14 | Yes | No | Veltrano consent received 5/17/2024
5 | Southport Logistics Park | 3200 Southport Connector Road, Jacksonville, FL 32218 | Jacksonville | FL | Logistics | GMP Southport LLC | 1-G | Pinnacle Federal Bank, N.A. | Whitfield & Archer LLP | Atlas Freight Logistics Corp. | Entire Building | 410000 | $5,330,000 | 7.1% | 2024-03-15 | Executed | 2024-04-20 | 2024-05-06 | Yes | No
6 | Alliance Commerce Center | 9500 Alliance Gateway Blvd, Fort Worth, TX 76177 | Fort Worth | TX | Logistics | GMP Alliance LLC | 1-E | Pinnacle Federal Bank, N.A. | Whitfield & Archer LLP | Redstone Automotive Parts Corp. | Building A | 385000 | $5,005,000 | 6.7% | 2024-03-15 | Executed | 2024-04-19 | 2024-05-01 | Yes | No
7 | Peachtree Corners Logistics Center | 4800 Peachtree Industrial Blvd, Peachtree Corners, GA 30092 | Peachtree Corners | GA | Logistics | GMP Peachtree LLC | 3-A | Sycamore Life Insurance Company | Partridge Wynn & Slater LLP | Summit Consumer Products LLC | Building 1 | 280000 | $3,920,000 | 5.2% | 2024-03-15 | Executed | 2024-04-26 | 2024-05-10 | Yes | No | Sycamore consent received 5/22/2024
8 | Buckhead Place Office Tower | 3380 Peachtree Road NE, Atlanta, GA 30326 | Atlanta | GA | Office | GMP Buckhead LLC | 2-A | Veltrano Capital Lending Corp. | Cranford McCabe LLP | Hartwell Financial Advisors LLC | Floors 14-18 | 125000 | $3,625,000 | 4.8% | 2024-03-15 | Executed | 2024-04-28 | 2024-05-12 | Yes | No
9 | Fairfield Logistics Center II | 4300 Fairfield Industrial Blvd, Fairburn, GA 30213 | Fairburn | GA | Logistics | GMP Fairfield II LLC | 1-B | Pinnacle Federal Bank, N.A. | Whitfield & Archer LLP | Greenfield Packaging Solutions Inc. | Entire Building | 310000 | $3,410,000 | 4.6% | 2024-03-15 | Executed | 2024-04-23 | 2024-05-03 | Yes | No
10 | Lakeland Crossings Industrial | 6700 Drane Field Road, Lakeland, FL 33811 | Lakeland | FL | Logistics | GMP Lakeland LLC | 1-F | Pinnacle Federal Bank, N.A. | Whitfield & Archer LLP | Evergreen Cold Storage Holdings LLC | Building 2 | 275000 | $3,300,000 | 4.4% | 2024-03-15 | Executed | 2024-04-24 | 2024-05-07 | Yes | No
11 | Mount Juliet Commerce Park | 1200 Central Pike, Mount Juliet, TN 37122 | Mount Juliet | TN | Logistics | GMP Mount Juliet LLC | 3-B | Sycamore Life Insurance Company | Partridge Wynn & Slater LLP | Brightpath E-Commerce Fulfillment Inc. | Building C | 195000 | $2,730,000 | 3.6% | 2024-03-15 | Executed | 2024-04-29 | 2024-05-13 | Yes | No
12 | Southport Logistics Park | 3200 Southport Connector Road, Jacksonville, FL 32218 | Jacksonville | FL | Logistics | GMP Southport LLC | 1-G | Pinnacle Federal Bank, N.A. | Whitfield & Archer LLP | Coastal Marine Supplies Inc. | Building B | 195000 | $2,535,000 | 3.4% | 2024-03-15 | Executed | 2024-04-21 | 2024-05-04 | Yes | No
13 | Buckhead Place Office Tower | 3380 Peachtree Road NE, Atlanta, GA 30326 | Atlanta | GA | Office | GMP Buckhead LLC | 2-A | Veltrano Capital Lending Corp. | Cranford McCabe LLP | Pendleton Wealth Management Inc. | Floors 10-12 | 78000 | $2,496,000 | 3.3% | 2024-03-15 | Executed | 2024-05-01 | 2024-05-15 | Yes | No
14 | Alliance Commerce Center | 9500 Alliance Gateway Blvd, Fort Worth, TX 76177 | Fort Worth | TX | Logistics | GMP Alliance LLC | 1-E | Pinnacle Federal Bank, N.A. | Whitfield & Archer LLP | Frontier Building Materials LLC | Building B | 180000 | $2,340,000 | 3.1% | 2024-03-15 | Executed | 2024-04-22 | 2024-05-05 | Yes | No
15 | Cool Springs Office Park | 5000 Virginia Way, Brentwood, TN 37027 | Brentwood | TN | Office | GMP Cool Springs LLC | 2-C | Veltrano Capital Lending Corp. | Cranford McCabe LLP | Meridian Healthcare Partners LLC | Suite 400-600 | 72000 | $2,304,000 | 3.1% | 2024-03-15 | Executed | 2024-05-02 | 2024-05-16 | Yes | No
16 | Murfreesboro Distribution Center | 1600 Joe B. Jackson Parkway, Murfreesboro, TN 37127 | Murfreesboro | TN | Logistics | GMP Murfreesboro LLC | 1-H | Pinnacle Federal Bank, N.A. | Whitfield & Archer LLP | Volunteer Auto Distribution Inc. | Building A | 165000 | $2,310,000 | 3.1% | 2024-03-15 | Executed | 2024-04-27 | 2024-05-09 | Yes | No
17 | SouthPark Corporate Center | 6200 Fairview Road, Charlotte, NC 28210 | Charlotte | NC | Office | GMP SouthPark LLC | 2-B | Veltrano Capital Lending Corp. | Cranford McCabe LLP | Crestline Insurance Services Corp. | Floors 10-12 | 88000 | $2,288,000 | 3.1% | 2024-03-15 | Executed | 2024-05-03 | 2024-05-17 | Yes | No
18 | Westlake Distribution Hub | 11500 Westlake Parkway, Houston, TX 77082 | Houston | TX | Logistics | GMP Westlake LLC | 1-C | Pinnacle Federal Bank, N.A. | Whitfield & Archer LLP | Bayou Energy Services LLC | Building B | 156000 | $2,184,000 | 2.9% | 2024-03-15 | Executed | 2024-04-23 | 2024-05-03 | Yes | No
19 | Peachtree Corners Logistics Center | 4800 Peachtree Industrial Blvd, Peachtree Corners, GA 30092 | Peachtree Corners | GA | Logistics | GMP Peachtree LLC | 3-A | Sycamore Life Insurance Company | Partridge Wynn & Slater LLP | Ashford Medical Devices Inc. | Building 2 | 150000 | $2,100,000 | 2.8% | 2024-03-15 | Executed | 2024-04-28 | 2024-05-11 | Yes | No
20 | Katy Freeway Logistics Park | 22600 Katy Freeway, Katy, TX 77449 | Katy | TX | Logistics | GMP Katy LLC | 1-D | Pinnacle Federal Bank, N.A. | Whitfield & Archer LLP | Gulf States Paper & Packaging Co. | Building B | 148000 | $2,072,000 | 2.8% | 2024-03-15 | Executed | 2024-04-20 | 2024-05-01 | Yes | No
21 | Fairfield Logistics Center I | 4200 Fairfield Industrial Blvd, Fairburn, GA 30213 | Fairburn | GA | Logistics | GMP Fairfield I LLC | 1-A | Pinnacle Federal Bank, N.A. | Whitfield & Archer LLP | Appalachian Beverage Distributors Inc. | Building B | 140000 | $1,960,000 | 2.6% | 2024-03-15 | Executed | 2024-04-26 | 2024-05-09 | Yes | No
22 | Fairfield Logistics Center II | 4300 Fairfield Industrial Blvd, Fairburn, GA 30213 | Fairburn | GA | Logistics | GMP Fairfield II LLC | 1-B | Pinnacle Federal Bank, N.A. | Whitfield & Archer LLP | Magnolia Home Furnishings Corp. | Building B | 135000 | $1,890,000 | 2.5% | 2024-03-15 | Executed | 2024-04-25 | 2024-05-08 | Yes | No
23 | Buckhead Place Office Tower | 3380 Peachtree Road NE, Atlanta, GA 30326 | Atlanta | GA | Office | GMP Buckhead LLC | 2-A | Veltrano Capital Lending Corp. | Cranford McCabe LLP | Cornerstone Legal Partners LLP | Floors 20-21 | 52000 | $1,872,000 | 2.5% | 2024-03-15 | Executed | 2024-05-04 | 2024-05-18 | Yes | No
24 | Southport Logistics Park | 3200 Southport Connector Road, Jacksonville, FL 32218 | Jacksonville | FL | Logistics | GMP Southport LLC | 1-G | Pinnacle Federal Bank, N.A. | Whitfield & Archer LLP | Palmetto Textiles Distribution LLC | Building C | 140000 | $1,820,000 | 2.4% | 2024-03-15 | Executed | 2024-04-22 | 2024-05-06 | Yes | No
25 | Alliance Commerce Center | 9500 Alliance Gateway Blvd, Fort Worth, TX 76177 | Fort Worth | TX | Logistics | GMP Alliance LLC | 1-E | Pinnacle Federal Bank, N.A. | Whitfield & Archer LLP | Lone Star Industrial Supply Co. | Building C | 130000 | $1,820,000 | 2.4% | 2024-03-15 | Executed | 2024-04-24 | 2024-05-07 | Yes | No
26 | Lakeland Crossings Industrial | 6700 Drane Field Road, Lakeland, FL 33811 | Lakeland | FL | Logistics | GMP Lakeland LLC | 1-F | Pinnacle Federal Bank, N.A. | Whitfield & Archer LLP | Suncoast Agricultural Products Inc. | Building 3 | 125000 | $1,750,000 | 2.3% | 2024-03-15 | Executed | 2024-04-26 | 2024-05-09 | Yes | No
27 | Cool Springs Office Park | 5000 Virginia Way, Brentwood, TN 37027 | Brentwood | TN | Office | GMP Cool Springs LLC | 2-C | Veltrano Capital Lending Corp. | Cranford McCabe LLP | Volunteer Capital Advisors Inc. | Suite 300 | 52000 | $1,768,000 | 2.4% | 2024-03-15 | Executed | 2024-05-05 | 2024-05-19 | Yes | No
28 | Murfreesboro Distribution Center | 1600 Joe B. Jackson Parkway, Murfreesboro, TN 37127 | Murfreesboro | TN | Logistics | GMP Murfreesboro LLC | 1-H | Pinnacle Federal Bank, N.A. | Whitfield & Archer LLP | Mid-South Food Service Distributors LLC | Building C | 120000 | $1,740,000 | 2.3% | 2024-03-15 | Executed | 2024-04-28 | 2024-05-10 | Yes | No
29 | SouthPark Corporate Center | 6200 Fairview Road, Charlotte, NC 28210 | Charlotte | NC | Office | GMP SouthPark LLC | 2-B | Veltrano Capital Lending Corp. | Cranford McCabe LLP | Carolina Ventures Capital LLC | Floor 14 | 48000 | $1,728,000 | 2.3% | 2024-03-15 | Executed | 2024-05-06 | 2024-05-20 | Yes | No
30 | Peachtree Corners Logistics Center | 4800 Peachtree Industrial Blvd, Peachtree Corners, GA 30092 | Peachtree Corners | GA | Logistics | GMP Peachtree LLC | 3-A | Sycamore Life Insurance Company | Partridge Wynn & Slater LLP | Dogwood Industrial Components Inc. | Building 3 | 118000 | $1,652,000 | 2.2% | 2024-03-15 | Executed | 2024-04-30 | 2024-05-14 | Yes | No
31 | Mount Juliet Commerce Park | 1200 Central Pike, Mount Juliet, TN 37122 | Mount Juliet | TN | Logistics | GMP Mount Juliet LLC | 3-B | Sycamore Life Insurance Company | Partridge Wynn & Slater LLP | Cumberland Valley Logistics Corp. | Building D | 110000 | $1,650,000 | 2.2% | 2024-03-15 | Executed | 2024-05-01 | 2024-05-15 | Yes | No
32 | Brickell Bay Office Building | 1450 Brickell Avenue, Miami, FL 33131 | Miami | FL | Office | GMP Brickell LLC | 2-D | Veltrano Capital Lending Corp. | Cranford McCabe LLP | Oceanic Trade Finance Corp. | Suite 600-700 | 44000 | $1,628,000 | 2.2% | 2024-03-15 | Executed | 2024-05-07 | 2024-05-21 | Yes | No
33 | Murfreesboro Distribution Center | 1600 Joe B. Jackson Parkway, Murfreesboro, TN 37127 | Murfreesboro | TN | Logistics | GMP Murfreesboro LLC | 1-H | Pinnacle Federal Bank, N.A. | Whitfield & Archer LLP | Heritage Furniture Distribution Inc. | Building D | 110000 | $1,595,000 | 2.1% | 2024-03-15 | Executed | 2024-04-29 | 2024-05-12 | Yes | No
34 | Buckhead Place Office Tower | 3380 Peachtree Road NE, Atlanta, GA 30326 | Atlanta | GA | Office | GMP Buckhead LLC | 2-A | Veltrano Capital Lending Corp. | Cranford McCabe LLP | Peachtree Consulting Group LLC | Floor 22 | 38000 | $1,558,000 | 2.1% | 2024-03-15 | Executed | 2024-05-08 | 2024-05-22 | Yes | No
35 | Cool Springs Office Park | 5000 Virginia Way, Brentwood, TN 37027 | Brentwood | TN | Office | GMP Cool Springs LLC | 2-C | Veltrano Capital Lending Corp. | Cranford McCabe LLP | Pinnacle Staffing Solutions Inc. | Suite 200 | 28000 | $1,540,000 | 2.1% | 2024-03-15 | Post-Closing Delivery | 2024-06-28 | 2024-07-01 | Yes | Yes | 2024-07-02 | Outstanding at closing; delivered within 30-day post-closing period; $200,000 holdback applied
36 | Buckhead Place Office Tower | 3380 Peachtree Road NE, Atlanta, GA 30326 | Atlanta | GA | Office | GMP Buckhead LLC | 2-A | Veltrano Capital Lending Corp. | Cranford McCabe LLP | Magnolia Consulting Partners LLC | Suite 1200 | 32000 | $1,680,000 | 2.2% | 2024-03-15 | Post-Closing Delivery | 2024-06-25 | 2024-06-30 | Yes | Yes | 2024-07-02 | Outstanding at closing; delivered within 30-day post-closing period
37 | Brickell Bay Office Building | 1450 Brickell Avenue, Miami, FL 33131 | Miami | FL | Office | GMP Brickell LLC | 2-D | Veltrano Capital Lending Corp. | Cranford McCabe LLP | Zolverai Reinsurance Services Ltd. | Suite 800 | 26000 | $1,560,000 | 2.1% | 2024-03-15 | Post-Closing Delivery | 2024-06-27 | 2024-07-01 | Yes | Yes | 2024-07-02 | Outstanding at closing; delivered within 30-day post-closing period
38 | Murfreesboro Distribution Center | 1600 Joe B. Jackson Parkway, Murfreesboro, TN 37127 | Murfreesboro | TN | Logistics | GMP Murfreesboro LLC | 1-H | Pinnacle Federal Bank, N.A. | Whitfield & Archer LLP | Volunteer Express Shipping Co. | Building B | 30000 | $1,620,000 | 2.2% | 2024-03-15 | Post-Closing Delivery | 2024-06-26 | 2024-07-02 | Yes | Yes | 2024-07-02 | Outstanding at closing; Pinnacle consent delayed to 6/4/2024 contributed to delayed lender counter-signature; delivered within 30-day post-closing period
TOTALS | 6170000 | $116,936,000 | 100.0%
SNDAs Executed at Closing | 34
SNDAs Post-Closing Delivery | 4
Total SNDAs Required | 38
Execution Rate at Closing | 89.5%
Post-Closing Completion Rate | 100.0%
[sheet: Summary]
Metric / Item | Value | Notes
Transaction | Fairwater REIT acquisition of GMP Fund III 14-property portfolio | PSA dated February 28, 2024
Purchase Price | $1,100,000,000
Total Leases in Portfolio | 87 | Per rent roll as of 12/31/2023
Annual In-Place Base Rent (Portfolio) | $74,800,000
Major Tenant ABR Threshold (SNDA Requirement) | $1,500,000 per annum | Per PSA definition of Major Tenant
Total SNDAs Required | 38 | Major Tenants with ABR ≥ $1,500,000
SNDA Form | PSA Exhibit F | Subordination, Non-Disturbance and Attornment Agreement
SNDA Delivery Deadline (PSA) | May 15, 2024 | Per PSA as amended by First Amendment dated April 12, 2024
Actual Closing Date | June 6, 2024 | Delayed from scheduled May 31, 2024 due to Pinnacle Federal Bank consent delay; PSA Second Amendment dated May 28, 2024 extended outside date to June 7, 2024
SNDAs Executed at Closing | 34 of 38 | 89.5%
SNDAs Subject to Post-Closing Carve-Out | 4 | Per Side Letter between Fairwater REIT and GMP Fund III
Post-Closing SNDA Delivery Deadline | July 6, 2024 | 30 days post-closing
Actual Post-Closing Delivery Date (All 4) | July 2, 2024 | Within 30-day period
Seller Holdback for Outstanding SNDAs | $200,000 | Released to Seller upon delivery confirmation
Holdback Release Date | July 2, 2024 | Per SNDA Post-Closing Delivery Confirmation memo
SNDA Compliance Certificate Issued | June 6, 2024 | C&H certificate confirming PSA SNDA conditions precedent satisfied at closing
LENDER BREAKDOWN
Pinnacle Federal Bank, N.A. — SNDAs Required | 22 | Loans 1-A through 1-H (8 logistics properties)
Pinnacle — Counsel | Whitfield & Archer LLP (Sandra Whitfield) | 717 Texas Avenue, Suite 2500, Houston, TX 77002
Pinnacle — Consent Received | June 4, 2024 | Final consent; caused closing delay
Pinnacle — SNDAs Executed at Closing | 21 | 1 subject to post-closing delivery
Veltrano Capital Lending Corp. — SNDAs Required | 12 | Loans 2-A through 2-D (4 office properties)
Veltrano — Counsel | Cranford McCabe LLP (Leo Cranford) | 100 Southeast Second Street, Suite 3000, Miami, FL 33131
Veltrano — Consent Received | May 17, 2024
Veltrano — SNDAs Executed at Closing | 9 | 3 subject to post-closing delivery
Sycamore Life Insurance Company — SNDAs Required | 4 | Loans 3-A and 3-B (2 logistics properties)
Sycamore — Counsel | Partridge Wynn & Slater LLP (Claire Wynn) | 100 Constitution Plaza, Suite 700, Hartford, CT 06103
Sycamore — Consent Received | May 22, 2024
Sycamore — SNDAs Executed at Closing | 4 | All completed prior to closing
BUYER'S COUNSEL
Firm | Calderwood & Harkness LLP | Matter No. 1036-00004
Lead Partner | Douglas Fairchild | Responsible Partner, Real Estate
Lead Associate | Grace Nakamura | Real Estate
Working Associate | Rafael Dominguez | Real Estate
SELLER'S COUNSEL
Firm | Blackridge Hayes LLP
Lead Partner | Nathaniel Pryce | Real Estate
Senior Associate | Thomas Keating
ESCROW / TITLE AGENT
Commonwealth National Title Insurance Company | Kenneth Stanhope, SVP | 191 Peachtree Street NE, Suite 800, Atlanta, GA 30303
[sheet: By Property]
Property # | Property Name | City, State | Property Type | Target Entity | Loan ID | Lender | Total Leases at Property | Major Tenant Leases (ABR ≥ $1.5M) | SNDAs Required | SNDAs Executed at Closing | SNDAs Post-Closing | SNDAs Complete | Status
1 | Fairfield Logistics Center I | Fairburn, GA | Logistics | GMP Fairfield I LLC | 1-A | Pinnacle Federal Bank, N.A. | 3 | 2 | 2 | 2 | 0 | 2 | Complete
2 | Fairfield Logistics Center II | Fairburn, GA | Logistics | GMP Fairfield II LLC | 1-B | Pinnacle Federal Bank, N.A. | 4 | 2 | 2 | 2 | 0 | 2 | Complete
3 | Westlake Distribution Hub | Houston, TX | Logistics | GMP Westlake LLC | 1-C | Pinnacle Federal Bank, N.A. | 2 | 2 | 2 | 2 | 0 | 2 | Complete
4 | Katy Freeway Logistics Park | Katy, TX | Logistics | GMP Katy LLC | 1-D | Pinnacle Federal Bank, N.A. | 3 | 2 | 2 | 2 | 0 | 2 | Complete
5 | Alliance Commerce Center | Fort Worth, TX | Logistics | GMP Alliance LLC | 1-E | Pinnacle Federal Bank, N.A. | 4 | 3 | 3 | 3 | 0 | 3 | Complete
6 | Lakeland Crossings Industrial | Lakeland, FL | Logistics | GMP Lakeland LLC | 1-F | Pinnacle Federal Bank, N.A. | 3 | 2 | 2 | 2 | 0 | 2 | Complete
7 | Southport Logistics Park | Jacksonville, FL | Logistics | GMP Southport LLC | 1-G | Pinnacle Federal Bank, N.A. | 3 | 3 | 3 | 3 | 0 | 3 | Complete
8 | Murfreesboro Distribution Center | Murfreesboro, TN | Logistics | GMP Murfreesboro LLC | 1-H | Pinnacle Federal Bank, N.A. | 4 | 4 | 4 | 3 | 1 | 4 | Complete Post-Closing
9 | Buckhead Place Office Tower | Atlanta, GA | Office | GMP Buckhead LLC | 2-A | Veltrano Capital Lending Corp. | 12 | 4 | 4 | 3 | 1 | 4 | Complete Post-Closing
10 | SouthPark Corporate Center | Charlotte, NC | Office | GMP SouthPark LLC | 2-B | Veltrano Capital Lending Corp. | 8 | 3 | 3 | 3 | 0 | 3 | Complete
11 | Cool Springs Office Park | Brentwood, TN | Office | GMP Cool Springs LLC | 2-C | Veltrano Capital Lending Corp. | 9 | 3 | 3 | 2 | 1 | 3 | Complete Post-Closing
12 | Brickell Bay Office Building | Miami, FL | Office | GMP Brickell LLC | 2-D | Veltrano Capital Lending Corp. | 7 | 2 | 2 | 1 | 1 | 2 | Complete Post-Closing
13 | Peachtree Corners Logistics Center | Peachtree Corners, GA | Logistics | GMP Peachtree LLC | 3-A | Sycamore Life Insurance Company | 5 | 3 | 3 | 3 | 0 | 3 | Complete
14 | Mount Juliet Commerce Park | Mount Juliet, TN | Logistics | GMP Mount Juliet LLC | 3-B | Sycamore Life Insurance Company | 10 | 2 | 2 | 2 | 0 | 2 | Complete
TOTALS | 77 | 37 | 37 | 33 | 4 | 37
CORRECTED TOTALS | 87 | 38 | 38 | 34 | 4 | 38 | 100% Complete
[sheet: By Lender]
Lender | Lender Type | Lender Address | Loan Officer | Lender Counsel Firm | Lender Counsel Partner | Lender Counsel Address | Loan IDs | Aggregate OPB | Interest Rate | Maturity Date | Properties Secured | SNDAs Required | SNDAs Executed at Closing | SNDAs Post-Closing | Lender Consent Date | Consent Fee | Notes
Pinnacle Federal Bank, N.A. | National Banking Association | 600 Travis Street, Suite 4400, Houston, TX 77002 | Bradley Carston, SVP | Whitfield & Archer LLP | Sandra Whitfield | 717 Texas Avenue, Suite 2500, Houston, TX 77002 | 1-A, 1-B, 1-C, 1-D, 1-E, 1-F, 1-G, 1-H | $421,600,000 | 4.22% | 2028-07-01 | 8 | 22 | 21 | 1 | 2024-06-04 | $1,054,000 | Master Loan Agreement dated September 15, 2020; consent delay caused closing extension from 5/31 to 6/6/2024
Veltrano Capital Lending Corp. | Delaware Corporation (non-bank lender / CMBS originator) | 200 South Biscayne Boulevard, Suite 3100, Miami, FL 33131 | Denise Alvarado, MD | Cranford McCabe LLP | Leo Cranford | 100 Southeast Second Street, Suite 3000, Miami, FL 33131 | 2-A, 2-B, 2-C, 2-D | $142,300,000 | 4.68% | 2029-03-01 | 4 | 12 | 9 | 3 | 2024-05-17 | $711,500 | Loan Agreement dated February 1, 2021
Sycamore Life Insurance Company | Connecticut Stock Life Insurance Company | 100 Constitution Plaza, Hartford, CT 06103 | Graham Hilliard, VP | Partridge Wynn & Slater LLP | Claire Wynn | 100 Constitution Plaza, Suite 700, Hartford, CT 06103 | 3-A, 3-B | $48,100,000 | 3.95% | 2030-12-01 | 2 | 4 | 4 | 0 | 2024-05-22 | $60,125 | Note Purchase Agreement dated November 22, 2019; all SNDAs complete prior to closing
TOTALS | $612,000,000 | 14 | 38 | 34 | 4 | $1,825,625
[sheet: Post-Closing Carve-Out]
SNDA # | Property Name | Target Entity | Loan ID | Lender | Tenant Name | ABR | Leased RSF | Reason for Delay | Side Letter Reference | Holdback Amount | SNDA Transmitted Date | Tenant Execution Date | Lender Counter-Signature Date | Delivery to Buyer Date | Holdback Released | Holdback Release Date
35 | Cool Springs Office Park | GMP Cool Springs LLC | 2-C | Veltrano Capital Lending Corp. | Pinnacle Staffing Solutions Inc. | $1,540,000 | 28000 | Tenant counsel review delays; lender counter-signature pending at closing | SNDA Post-Closing Carve-Out Side Letter dated June 6, 2024 | $50,000 | 2024-03-15 | 2024-06-28 | 2024-07-01 | 2024-07-02 | Yes | 2024-07-02
36 | Buckhead Place Office Tower | GMP Buckhead LLC | 2-A | Veltrano Capital Lending Corp. | Magnolia Consulting Partners LLC | $1,680,000 | 32000 | Tenant requested lease amendment clarification before executing SNDA | SNDA Post-Closing Carve-Out Side Letter dated June 6, 2024 | $50,000 | 2024-03-15 | 2024-06-25 | 2024-06-30 | 2024-07-02 | Yes | 2024-07-02
37 | Brickell Bay Office Building | GMP Brickell LLC | 2-D | Veltrano Capital Lending Corp. | Zolverai Reinsurance Services Ltd. | $1,560,000 | 26000 | Tenant corporate approval process delayed execution | SNDA Post-Closing Carve-Out Side Letter dated June 6, 2024 | $50,000 | 2024-03-15 | 2024-06-27 | 2024-07-01 | 2024-07-02 | Yes | 2024-07-02
38 | Murfreesboro Distribution Center | GMP Murfreesboro LLC | 1-H | Pinnacle Federal Bank, N.A. | Volunteer Express Shipping Co. | $1,620,000 | 30000 | Pinnacle consent not received until June 4, 2024; lender counter-signature could not be obtained before closing | SNDA Post-Closing Carve-Out Side Letter dated June 6, 2024 | $50,000 | 2024-03-15 | 2024-06-26 | 2024-07-02 | 2024-07-02 | Yes | 2024-07-02
SUMMARY | $6,400,000 | 116000 | $200,000
Total Holdback | 4 × $50,000 = $200,000 (matches PSA side letter amount) | $200,000
Delivery Status | All 4 SNDAs delivered by July 2, 2024 — within 30-day post-closing period (closing June 6, 2024; deadline July 6, 2024)
Holdback Release | Total holdback of $200,000 released to Seller on July 2, 2024
Confirmation | SNDA Post-Closing Delivery Confirmation memo issued to confirm completion