EMAIL DETAILS

Check with him. Not sure where he is - but I mentioned to him again yesterday and he said he was interested in looking if you were looking at $250K investors. You may still have the 1031 issue, but it is at least worth one more email.


Eric D. Schwerin
Rosemont Seneca Partners, LLC
1010 Wisconsin Ave., NW
Suite 705
Washington, DC 20007
(202) 333-1880
eschwerin@rosemontseneca.com
P Consider the environment before printing this email.


On Jun 7, 2011, at 9:26 AM, Devon Archer wrote:

> Thanks Eric. I had spoken to Alex on Atlanta early but he was a pass. He was originally looking at a 1031 which he couldn't work at this time.
>
> Contacts like him in that range are perfect. It's not an insurmountable amount with 250's with 4.5 to go. Thank you again for introducing him. I'll reach back out today and see if anything's changed from his end.
>
> Devon Archer
> +646 436 3745
>
> Please excuse typos as this message was sent from my handheld device.
>
> On Jun 6, 2011, at 5:07 PM, Eric Schwerin <eschwerin@rosemontseneca.com> wrote:
>
>> Devon- I believe you spoke with Alex Lofft at one point about investing some of the proceeds from another commercial real estate investment he made and he was not able to do anything close to what you were looking for as far as a commitment. But he says he'd be interested in looking at Atlanta if you are talking to people in the $250,000 range. Will you send him info? May not go anywhere but he is interested in receiving the prospectus and this is closer to his price range.
>>
>> If you don't still have it, his email is alofft@martekglobal.com.
>>
>> Best,
>>
>> Eric
>>
>>
>>
>> Eric D. Schwerin
>> Rosemont Seneca Partners, LLC
>> 1010 Wisconsin Ave., NW
>> Suite 705
>> Washington, DC 20007
>> (202) 333-1880
>> eschwerin@rosemontseneca.com
>> P Consider the environment before printing this email.
>>
>> On Jun 6, 2011, at 4:22 PM, Dan Burrell wrote:
>>
>> Guys,
>>
>> We are entering into the danger zone on Atlanta. In exactly two weeks from today I leave for Europe, as do most of the people on this email. Currently this is where things stand in actual commitments and potential leads. We need $17 million. We are fully $4.5 million short today.
>>
>> Lone Rock: $5 million (GP commitment)
>> Rosemont Retail Investors: $4 million (Eddie’s friends and family)
>> Burrell Investors: $3.5 million (Jeffrey Krinsk $2 million, William Yarmuth $500, Brehon Griswold $1 million)
>> Marketing Team: $0 million
>> Total Committed Capital $12.5 million
>>
>> Active Leads:
>>
>> Retail Investors; We expect an additional $1 million from Eddie’s direct marketing efforts to small dollar investors
>> Burrell Investors I have between $500 to $1 million in additional leads that could get me to $4 million
>> Marketing Team: Michael Sachs, The O’Brien Family, Alemane Family (Mexico), Donald Storino Family & Friends.
>>
>> As I mentioned, significant failure to raise this capital is a major setback and puts the Company in the position of having to fund equity through secured, fully recourse debt. We of course will do what we have to as deal failure is an even worse scenario for the Company than borrowing against the commitment -- but suffice to say that it stretches us to our absolute maximum credit availability.
>>
>> I am PLEADING with the group to drop whatever else is going on with RRREAF in the next 10 days and to focus solely on raising $2 to $3 million in additional capital before the end of June. This is an important test of our fundraising capability and I personally feel under enormous pressure to close this deal successfully and without creating further risk to the Company. Everybody has equity in this deal through RREAF and will participate in the benefits it brings back to the Fund so I am hoping we can all look at this as a team effort and dig deep the next few weeks. I think this is purely a matter now of everyone mentally going through their contact list and coming up with 10 names of high net worth investors who can invest 250k to 1million.
>>
>> Sorry to be pressing on this, but I just don’t want us to be setback by this deal.
>>
>> Best
>> DB
>>
>> Daniel C. Burrell
>> Chief Executive Officer
>> 330 Garfield St | Santa Fe, NM 87501
>> 505.992.5100 ph | 505.982.2515 fax | dburrell@rosemontrealty.com
>>
>>