LOI

Blessington

Updated 2026-06-02

Deal controls

Change priority / status / stage here. Overrides beat stale sync data and save to Redis.

PriorityStatusStage

Custom stage (optional)

P0 = highest urgency (do / send today). P1 this week · P2 later · backlog parked.

Deal folder

C:\Users\jonat\Clinton Harbor\ETA - Documents\Old Stuff\Blessington

Opens in OneDrive on the web (or Explorer on jewtop)

Contacts

Broker

No broker on file

Seller

No seller contact on file

SBIC / lenders

Shared list: 232 lending groups (36 with multiple contacts → To + Cc).

Generate email to SBIC lenders →Browse SBIC lenders

Opens a deal-specific composer: check lenders, AI-draft the body, attach OneDrive files (e.g. Anonymous Lender One-Pager v2), create unsent Outlook drafts (To + Cc). Nothing auto-sends.

Draft emails

No DRAFT_*.md files found (local disk or OneDrive)

HANDOFF

C:\Users\jonat\Clinton Harbor\ETA - Documents\Old Stuff\Blessington\HANDOFF.md

Current state

Deal folder contains the CIM and a first-pass sale-leaseback / DSCR workbook.
Source file used: `Blessington CIM 5-29-26 FINAL.pdf`.
Model artifact: `Blessington_5_Capital_Stack_DSCR_Model.xlsx`.
LOI artifact: `Clinton Harbor - LOI - Blessington Corporation.docx`; Word PDF export also exists for review.
Workbook status: Excel COM recalculation passed; all checks on `99_Checks` are `OK`.
Latest polish pass added rent-per-SF economics, SLB premium framing, Stack 5 EBITDA/cap-rate sensitivity, and decision guardrails.

Blockers

None listed

Next actions

Confirm with lender whether seller standby note treatment, SBA collateral rules, and sale-leaseback proceeds can be structured as modeled.
Market-test whether a real estate investor would accept the implied rent and cap-rate structure despite the large premium to the $1,610,000 appraisal.
Request the appraisal, rent support, lease terms, tax returns, detailed 2025 P&L, and monthly 2026 actuals before using the above-appraisal leaseback value in an IOI or LOI.
Consider a follow-up sensitivity tab for rent caps, appraised-value caps, lender DSCR floors, and lower EBITDA cases.
Review the LOI with counsel before sending, especially seller-note subordination/SBA standby language, real estate purchase mechanics for CB Realty Trust, non-compete enforceability under Massachusetts law, transition obligations, indemnity/holdback, and whether the note should apply only to business value or aggregate value.

Files (0)

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