Collateral Onboarding Call #38: REIF DROP: Commercial Real Estate Assets - Wednesday, September 29 5pm UTC

Collateral Onboarding Call #38: REIF DROP: Commercial Real Estate Assets - Wednesday, September 29 5pm UTC

Time in your local-timezone format:
2021-09-29T17:00:00Z

Mark it on your Google Calendar!

Dial In Details

Zoom call
Passcode: RWA-WG

Intro

An open discussion where we discuss projects and potential assets for MCD, open for anyone to join.

If you’d like to present, check out this thread.

Agenda

Intro by @Juan
Presentation by TBD

REIF: Commercial Real Estate Fund — https://www.reif.finance/

MIP6: [REIF-DROP] REFI DROP: Commercial Real Estate Assets

REIF intends to establish relationships with a number of trusted and reliable asset originators across North America with the intent of supplying risk capital to finance and obtain loan assets backed by commercial real estate. These assets are expected to yield above-market risk-adjusted returns and bear material collateral coverage to protect the assets from downside risk.

The REIF Pool will help finance value-add commercial real estate projects with an average loan amount of $10,000,000 (ten million) for the 1st position product and $500,000 (five hundred thousand) for the 2nd position product. The 1st position product is for acquisition, equity takeout, and refinancing of commercial real estate loans. The 2nd position product is for renovations, development, or leasehold improvements of the properties. The maximum Loan-to-Value (LTV) leverage to be considered for financing of the 1st position product is to be 70% of the asset value and the maximum LTV leverage to be considered for financing of the 2nd position product is to be 80% of asset value. The asset values will be verified by a third party. The term of the loans will be 12 and 24 months as determined on a case-by-case basis.


Attn: @SES-Core-Unit, @gov-comms-core-unit, @GovAlpha-Core-Unit, @Growth-Core-Unit, @Content-Production, @MakerMikeP, @Coulter, @daif-core-unit, @Protocol-Engineering, @Oracles-Core-Unit, @Risk-Core-Unit, @Real-World-Finance, @twblack88, @ElProgreso, @planet_x, @PaperImperium, @monet-supply, @makerman, @inkymaze

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Collateral Call Summary - Episode #38

September 29th, 2021

Agenda

  • 00:00: Intro with Juan Guillén
  • 00:30: Collateral Onboarding Call #38: REIF DROP: Commercial Real Estate Assets
  • 36:01: Q&A and Discussion about REIF DROP
  • 58:21: Outro with Juan Guillén

Video

https://youtu.be/Cvuq7-MvrKc

Introduction

Juan Guillén

Agenda and Preamble

00:00

  • Hello to everyone! Welcome to Collateral Onboarding Call #38 from MakerDAO. My name is Juan, and I am the facilitator for the SES CU.
  • Today, we have REIF DROP: Commercial Real Estate Assets. The team is going to be presenting and telling us everything about this Token.
  • Discussions about collateral happen in the Forum.

Collateral X

Ben Ames, Joe Accardi and Wenzel Hoberg

Presentation

00:30

Discussion

Closing Comment

Juan Guillén

Outro

58:21

  • Thank you to everyone for coming. It was great having you. Have a nice one!

Credits

  • @Gala produced this summary.
  • Kunfu-po produced this summary.
  • Everyone who spoke and presented on the call, listed in the headers.

I have another call scheduled then, so will catch the replay. Looking forward to it

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The full call is available on the MakerDAO Youtube channel for review:

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