| Id | Name/ | Type/ | Bal | GLA/Units | LTV | WAC |
| | Address | Subtype | % Pool | Occ. % | DSCR | Originator |
| 1 |
Pacific Arts Plaza |
OF |
$110,000,000 (whole: 270,000,000) |
336,134 |
79.6 |
5.152500 % |
| | 675 Anton Boulevard, Costa Mesa CA 92626 | | 7.2% | 76% | 1.19x (UW) | Bank of America |
|  | | Tenant | % | Expires | | RUTAN & TUCKER | 14 | 08/31/21 | | COMERICA BANK | 7 | 11/30/13 | | BDO SEIDMAN | 4 | 12/31/15 |
|
| 1E- DSCR < 1.10;1F DSCR <= 75% U/W DSCR.The loan is secured by a 785,231 sq ft MU prop. in Costa Mesa, CA.The debt consists of a $270MM whole loan split between a $160MM A-1 Note (BACM2005-3), & a $110MM A-2 Note (BACM2005-4) which are Pari Passu, & a $28MM B-Note. The property was inspected on 08/07/2008; rated in Good condition. Q1-2009 NCF DSCR using the \''A-1 & A-2'' notes is 1.07; ''All In'' YE 2008 NCF DSCR is .92 with an occ of 72%. The continued decline in NCF is due to an EGI decline because GPR & EX REIMB are not at the levels anticipated at U/W combined with increasing vacancies. Ann 2009 EGI shows a 1% increase from YE 2007 & a 15% decline from U/W. Ann 2009 EGI does show a trend that EGI is increasing to levels anticipated at U/W since prior years EGI ranged between 15% - 16% decline, & historical EGI has been increasing 2% - 3% annually. As of the 03/09 RR, there is 227,851 vacant sf. Proposals have been sent to three prospects (AIM, HKS Architects, Guldjian Law Group) for three units totaling 12,100 sf with lease terms ranging from 3 - 5 yrs at rates of $60-$65. Bwr has secured two tenants(Citent & McKasson Klein) to occupy two spaces totaling 7995 sf during Q1-2009 for 5 yrs at rates of $65-$70. Asking rates range from $19.20 - $21.60 NNN & $33.60 - $38.40/FSG. Competitive bldg rates range from $33.00 - $45.60/FSG. Spaces are adv/mkt via CoStar, company website, & direct broker contact. Additionally, GMAC occupies six suites at the subject property totaling 110,519 sf or 13.40% NRA. Bwr stated that the 5th, & 10th floor spaces formerly occ by GMAC are dark but current. Per Bwr, there is a sublease pending for the 5th floor(prospect name not provided) & GMAC may begin to re-occupy/stack the 10th fl as per Bwr. WAMU occupied 28,027 sf or 3.39% NRA but as of 01/09 have vacated, & Bwr is awaiting a rejection ltr from the FDIC. Bank of America will continue to monitor the loan.
|
| 70 |
Midtown Office |
OF |
$4,923,874 |
63,378 |
74.3 |
5.694000 % |
| | 1300 Baxter Street, Charlotte NC 28204 | | 0.3% | 84% | 1.13x (9 mths) | Bridger |
|  | | Tenant | % | Expires | | CENTRALINA COUNCIL GOVERNMENT | 17 | 06/30/09 | | MCCRAKEN & LOPEZ | 13 | 12/31/09 | | CHARLOTTE SYMPHONY ORCHESTRA | 13 | 12/31/10 |
|
| 1A - Delinquent payments. The loan is secured by a 61,200 SF Office Building in Charlotte, NC built in 1962. The property was inspected on 06/10/09;rated in Good condition. The YE 2008 NCF DSCR is 1.25 with an occupancy of 83%. The loan was placed on the watchlist due to the delinquency of the 06/01/09 & 07/01/09 payments. The 06/01/09 payment was received in the primary servicer\''s office 07/31/09; and Master Servicer received the payment on 08/02/09. Loan is currently due for the 07/01/09 & 08/01/09 payments. Primary servicer has made several attempts to contact the Borrower to obtain a date on when the delinquent payments will be received; however, Borrower has been unresponsive. Primary servicer will continue their efforts to collect the delinquent financials. Bank of America will continue to monitor the loan.1A - Delinquent payments. The loan is secured by a 61,200 SF Office Building in Charlotte, NC built in 1962. The property was inspected on 06/10/09;rated in Good condition. The YE 2008 NCF DSCR is 1.25 with an occupancy of 83%. The loan was placed on the watchlist due to the delinquency of the 06/01/09 & 07/01/09 payments. The 06/01/09 payment was received in the primary servicer''s office 07/31/09; and Master Servicer received the payment on 08/02/09. Loan is currently due for the 07/01/09 & 08/01/09 payments. Primary servicer has made several attempts to contact the Borrower to obtain a date on when the delinquent payments will be received; however, Borrower has been unresponsive. Primary servicer will continue their efforts to collect the delinquent financials. Bank of America will continue to monitor the loan.
|
| 128 |
Coit Medical Bldg |
OF |
$946,568 |
12,196 |
45.1 |
5.997000 % |
| | 1212 Coit Road, Plano TX 75075 | | 0.1% | 82% | 1.17x (12 mths) | Bridger |
|  | | Tenant | % | Expires | | DR. MICHAEL R. MARTIN | 34 | 01/31/12 | | TIMOTHY ICENHOWER DDS | 23 | 08/31/09 | | ROGER Z. TAYLOR MD | 16 | 08/31/09 |
|
| 1F - DSCR < 1.40 and <= 75% U/W DSCR. The loan is secured by a 12,197 SF office building in Plano, TX. The property was last inspected on 12/03/08 and received a rating of good. The YE 2008 NCF DSCR is 1.17 with an occupancy of 82%. The decline in NCF is a result of an EGI decline. 2008 EGI has declined 32% from YE 2007. In-place rents per the Sept 2008 rent roll are 198,661.58, and reported YE 2008 rents are $120,415. Total vacant square feet as of Sept 30 2008 is 2224. Unit 110 (total of 2224 sf) has been vacant since 9/2005. Per a Dec 2008 update, Borrower indicated to primary servicer that there are no prospects for the vacant space. Borrower uses the services of a Broker to market & advertise the space (Broker name not provided). Bank of America has contacted the primary servicer to obtain an explanation for the variance in reported rents, and a leasing update; waiting for a response.
|