EFTA01471437.pdf

Subject: Re: Fw: Marina REIT [C] From: Tazia Smith ‹ > Date: Mon, 27 Oct 2014 13:06:34 -0400 To: Paul Morris Cc: Matt Glassman Classification: Confidential Absolutely. All you Tazia Smith Director Key Client Partners - US Deutsche Bank Securities, Inc. Deutsche Asset & Wealth Management 345 Park Avenue - 26th Floor New York, NY 10154 Tel: Mobile: Fax: E-mail: Original Message From: Paul Morris Sent: 10/27/2014 01:03 PM EDT To: Tazia Smith Cc: Matt Glassman Subject: Re: Fw: Marina REIT [C] Classification: Confidential pls don't get back to him on this until we talk and i do a little work, he may be thinking this for a client, let's talk later or tomorrow Paul Morris Managing Director Deutsche Bank Private Bank 345 Park Avenue, 27th Floor New York, NY 10154 Office: Cell: EFTA01471437  From: Tazia SmitHIIIIII To: "Paul Morris" •c >, Cc: "MG" Date: 10/27/2014 01:00 PM Subject: Fw: Marina REIT [C] Classification: Confidential Give me a call. He's got so much cash in house that, if he's borrowing recourse, it makes more sense for him to do non purpose loan w u and use proceeds to buy this...vs specific collateral/LTV. He could borrow 20 and invest 20 in this... 20mm will include warrants and fee break incentives as well Tazia Smith Director Key Client Partners - US Deutsche Bank Securities, Inc. Deutsche Asset & Wealth Management 345 Park Avenue - 26th Floor New York, NY 10154 Tel: EFTA01471438 Mobile: Fax: E-mail: From: Tazia Smith Sent: 10/27/2014 12:56 PM EDT To: "jeffrey epstein" <[email protected]>; Matt Glassman Cc: Paul Morris; Daniel Sabba; Vahe Stepanian; "Richard Kahn" Subject: Re: Marina REIT [C] Classification: Confidential Hi Jeffrey - we've been guiding clients to 20pct indicative LTV vs the private equity, but out of the investment bank. With recourse we can lend through the private bank -- even more compelling. Paul and I will be back to you. Tazia Smith Director Key Client Partners - US Deutsche Bank Securities, Inc. Deutsche Asset & Wealth Management 345 Park Avenue - 26th Floor New York, NY 10154 Tel: Mobile: Fax: E-mail: From: "jeffrey E." [[email protected]] Sent: 10/27/2014 12:07 PM AST To: Matt Glassman Cc: Paul Morris; Daniel Sabba; Tazia Smith; Vahe Stepanian; Richard Kahn EFTA01471439  Subject: Re: Marina REIT [C] how much would the bank lend using the postion as collateral. ? but personally guarteed? On Mon, Oct 27, 2014 at 11:34 AM, Matt Glassman a wrote: Classification: Confidential Hi Jeffrey, Attached, you will find an overview of an investment opportunity for our qualified clients - it is a private marina REIT. To be clear, this a private company not a fund. This investment opportunity targets an 8%+ current yield from the net profits of the underlying Marina holdings. The J -curve up to that yield is anticipated to be just limos as properties will be contributed for equity immediately. The current fragmented nature of the marina industry, their valuations, and the barriers to entry present an interesting fundamental opportunity Liquidity/cap rate compression (in both our base and bull cases) is an IPO in 3-4yrs. Regards, Matt Matt Glassman Vice President I Key Client Partners US Deutsche Bank Securities Inc Deutsche Asset & Wealth Management 345 Park Avenue New York, NY 10154 Tel. Mobile Email This communication may contain confidential and/or privileged information. EFTA01471440  If you are not the intended recipient (or have received this communication in error) please notify the sender immediately and destroy this communication. Any unauthorized copying, disclosure or distribution of the material in this communication is strictly forbidden. Deutsche Bank does not render legal or tax advice, and the information contained in this communication should not be regarded as such. please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to [email protected], and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved EFTA01471441