| Id | Name/ | Type/ | Bal | GLA/Units | LTV | WAC |
| | Address | Subtype | % Pool | Occ. % | DSCR | Originator |
| 27 |
City Center |
OF |
$23,873,305 |
295,864 |
65.4 |
6.440000 % |
| | 888 West Big Beaver Road, Troy MI 48084 | | 0.9% | 78% | 1.02x (6 mths) | Bank of America |
|  | | Tenant | % | Expires | | New World Systems | 15.81 | 06/30/11 | | NovaStar Mortgage | 11.75 | 05/31/12 | | Integrated Design | 5.13 | 03/31/10 |
|
| 1E - DSCR < 1.10. The loan is secured by a 284,990 sq ft office complex located in Troy, MI, built in 1978 and renovated in 2003. The property was inspected on 02/2009 and received a rating of Fair. Q1 09 NCF DSCR was 0.96x with occupancy of 77%. YE 08 NCF DSCR was 1.08x with occupancy of 78%. YE 07 NCF DSCR was 0.96x with occupancy of 77%. Bank of America will contact the Borrower regarding increase in operating expenses and will continue to monitor the loan.
|
| 47 |
189 Montague Street |
OF |
$13,801,201 |
85,466 |
75.8 |
5.432000 % |
| | 189 Montgue Street, Brooklyn NY 11201 | | 0.5% | 78% | 1.01x (UW) | Bank of America |
|  | | Tenant | % | Expires | | City of New York | 17.75 | 11/19/10 | | Brooklyn Psychiatric | 14.89 | 07/31/12 | | Premier Home Health | 5.83 | 08/31/10 |
|
| 1E - DSCR < 1.10, 1F DSCR <1.40 & <= 75% U/W. The loan is secured by a 85,466 NRSF office property in Brooklyn, NY. The property was last inspected in 10/08 and received a rating of Good. The Q1 09 NCF DSCR was 0.89x with occupancy of 79%. The YE 08 NCF DSCR was 1.01x with occupancy of 78%, down from 1.17x and 93% in YE 07. The decrease in occupancy is due to the early termination of Brooklyn Psychiatric (10.86% NRA, set to expire in 4/2012). Bank of America will contact the Borrower to obtain information on leasing efforts and will continue to monitor the loan.
|
| 50 |
1301 Virginia Drive |
OF |
$13,222,659 |
104,436 |
75.1 |
5.216000 % |
| | 1301 Virginia Drive, Ft. Washington PA 19034 | | 0.5% | 81% | 1.01x (UW) | Bank of America |
|  | | Tenant | % | Expires | | Bayview | 43.12 | 02/28/18 | | GECC | 21.52 | 09/30/07 | | Alfred Angelo, Inc. | 13.38 | 07/31/10 |
|
| 1E - DSCR < 1.10, 6A – Tenant Default. The loan is secured by a 104,433 sf office property located in Fort Washington, PA built in 1984. The property was inspected on 09/08/2008 and rated in Good condition. Q1 09 NCF DSCR was 1.11x with occupancy of 84%. YE 2008 NCF DSCR is 1.01x with 80% occupancy. 3Q 9/30/2008 NCF DSCR is 0.99 with occupancy of 77%. 2Q 6/30/2008 DSCR was 0.96 with occupancy of 78%. YE 2007 DSCR was 1.51 with occupancy of 78%. The DSCR decline is due to a decline in rental income triggered by the vacancy. The largest tenant at the property, GEMSA, vacated the premises upon their lease expiration (9/30/2007). The borrower is actively working to re-lease the space and is currently negotiating with a prospective tenant for approx. 8,000 sf. In addition to the decreased rental income, the expenses for 2008 increased due to necessary repairs for electrical, elevator and building interiors that were not completed in 2007. These additional repair expenses totaled $17,196 in Q1 08. None of these repairs are classified as nonrecurring or capital expenses. CMSA code 6A pertains to the tenant Onyx Acceptance Corp. (3,492 sf, 3.34% NRA) who breached the terms of their lease by vacating their premises prior to the lease expiration of 6/09. The borrower was able to recover rent payment from the tenant through 4/09 (two months before the original expiration). Bank of America will continue to monitor the loan.
|
| 130 |
The Plaza Office Building B |
OF |
$3,450,298 |
27,807 |
70.4 |
5.427000 % |
| FC | 2320 Paseo Del Prado, Las Vegas NV 89102 | | 0.1% | 87% | 1.09x (6 mths) | Bridger |
|  | | Tenant | % | Expires | | Tepper | 10.76 | 04/30/09 | | Nevada Aneshesia Consultant (B203 - 204) | 8.28 | 04/30/07 | | Fisher Appraisal Services Inc. (B101 and 102) | 8.13 | 04/30/06 |
|
| The receiver continues to try to lease up the property, but progress has been slow due to market conditions.
|
| 150 |
Juliet Rainbow Office |
OF |
$2,477,000 |
16,569 |
59.0 |
5.009000 % |
| | 6785 W. Russell Road, Las Vegas NV 89118 | | 0.1% | 48% | 1.00x (12 mths) | Bridger |
|  | | Tenant | % | Expires | | Silver State Mortgage | 26.28 | 10/31/09 | | Dermologica, Inc. | 25.95 | 06/30/11 | | Crowley & Ramos | 13.16 | 12/10/09 |
|
| 1E - DSCR < 1.10, 4A OCC < 80% U/W, 4B EGI< U/W EGI & < 1.10, 1F DSCR <1.40 & <= 75% U/W. The loan is secured by a 16,570 sf office property in Las Vegas, NV built in 2003. The property was inspected 7/08/2008 and rated in excellent condition. Q1 09 NCF DSCR was 0.91x with 48% occupancy. YE 08 NCF DSCR is 1.00x with occupancy of 48%. 3Q 9/30/2008 NCF DSCR is 1.08 with occupancy of 48%. YE 2007 DSCR was 1.63. Occupancy per 11/21/2008 rent roll, has lowered to 48% due to two vacant spaces with a total of 8,695 sf. Per the 11/21/08 rent roll the average annual rental rate was $23.86/sf, compared with a year earlier, the average annual rate was $20.75/sf. The largest tenant, DeCima Mortgage Company, 26% NRA, moved out in November 2007, before their lease expiration. Per the borrower, they are actively marketing the vacant spaces. Based on the inspection in July, the 4,340 sf space remains vacant and hasn\'t been built out. Bank of America will continue to monitor the loan.
|