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Re: Perbert post# 105

Monday, 05/19/2014 2:48:56 PM

Monday, May 19, 2014 2:48:56 PM

Post# of 343
Sorry for the confusion, debt yield meaning net operating income or net cash flow from the portfolio of collateral divided by the outstanding principal balance of the loan. Per the press release on the Equity Inns website, they secured the debt at a cost of capital of LIBOR plus 3.30%, which I assume is meaningfully below the cost of capital that was replaced.

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