| Id | Name/ | Type/ | Bal | GLA/Units | LTV | WAC |
| | Address | Subtype | % Pool | Occ. % | DSCR | Originator |
| 54 |
Ramshorn Executive Center |
OF |
$11,729,137 |
61,428 |
77.2 |
5.869000 % |
| | 2399 North Highway 34, Manasquan NJ 08736 | | 0.4% | 97% | 1.17x (UW) | Bridger |
|  | | Tenant | % | Expires | | ATLANTIC MEDICAL IMAGING LLC | 25 | 08/01/15 | | AXA EQUITABLE LIFE INSURANCE CO. | 15 | 01/21/10 | | MELILLO & BAUER ASSOCIATES INC. | 11 | 12/01/13 |
|
| 6A - Other (Chronic Late Payments). Loan is secured by a 61,422 sf office property in Manasquan, NJ, built in 2004. The 12/11/2008 inspection rated the Property in Good condition. YE 12/31/2008 NCF DSCR is 1.17x with 96.5% Occupancy. The Loan is being monitored for chronic delinquency; Borrower has made payments late every month thus far in 2009. As of 8/11/2009, the August 1 Debt Service pymt remains due. The Bwr just satisfied July 1 pymt on 8/5/2009; June 1 on 7/7/2009; May 1 on 5/12/2009; April 1 on 4/10/2009; March 1 on 3/11/2009; Feb 1 on 2/10/2009; and Jan 1 pymt on 1/12/2009. The Primary Servicer has indicated that they maintain efforts to collect Bwr\''s August payment, and send the Borrower a Notice of Default with Right to Cure Letter each month the loan becomes delinquent; Borrower''s failure to cure would result in springing the lockbox. Bank of America has requested that the Primary obtain Bwr''s reason(s) for ongoing late payments, and will continue to monitor the Loan.
|
| 119 |
Woodlands Atrium |
OF |
$3,629,183 |
54,296 |
68.5 |
6.110000 % |
| | 24900 Pitkin Road, The Woodlands TX 77386 | | 0.1% | 97% | 1.18x (12 mths) | Bridger |
|  | | Tenant | % | Expires | | MOODY INTERNATIONAL INC. | 20 | 08/31/12 | | PRO FORMANCE INC | 16 | 04/30/10 | | FRONTIER MATERIALS CONCRETE | 8 | 03/30/11 |
|
| 1E - DSCR < 1.10. Loan is secured by a 54,295 sf office building in The Woodlands, TX, built in 1985. The 8/20/2008 inspection rated the Proeprty in Good condition. YE 12/31/2008 NCF DSCR is 1.07x (12.3% below U/W level of 1.22x) with 98% Occupancy. Total Operating Expenses at YE08 are a 39.3% increase from U/W, and 14.2% above YE07. U/W did not provide a detailed breakout of expenses, therefore a full line item comparison to YE08 cannot be made. Compared to PYE, the significant YE08 expenses increases that caused the DSCR decline as well as the 14.2% TOE increase were: 25.3% higher UTL, 22.1% higher R&M, and a 31.9% rise in P&B. According to the Primary Servicer, the Bwr indicated that P&B has risen due to increases in day porter and administration salaries and benefits; and UTL expenses increased due to higher electricity costs. No explanation as to R&M increase was given. Bank of America has requested further clarification from the Primary Servicer and will continue to monitor the loan.
|