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LB04: — Pipeline Screen Card

You do not need to prospect for this. Four patterns that qualify, with the question that tests each: the sizing gap where senior came in short, ground-up and substantial rehabilitation (adaptive reuse frequently the strongest case of all), acquisition with a capital plan, and the completed project where a sponsor wants equity back — marked as systematically overlooked. Five disqualifiers to know before spending time, including the roughly $1 million eligible-cost floor, hold periods under three years, and a senior loan that has already closed. Then the twenty-minute pipeline sweep, a one-time exercise that resets your book, and the one question that does the most work: what is in the mechanical, envelope, and energy scope, and what did the sponsor already spend on it?

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