| Id | Name/ | Type/ | Bal | GLA/Units | LTV | WAC |
| | Address | Subtype | % Pool | Occ. % | DSCR | Originator |
| 63 |
Strongsville Towne Center |
RT |
$10,063,066 |
120,270 |
74.5 |
5.938000 % |
| | 14933-15323 Pearl Road, Strongsville OH 44136 | | 0.3% | 83% | 1.70x (9 mths) | Bridger |
|  | | Tenant | % | Expires | | rite aid- dark | 13 | 11/30/09 | | champs | 5 | 08/31/12 | | sylvan learning | 4 | 02/28/11 |
|
| 4A - Occ < 80% of U/W. Loan is secured by a 118,747 sf anchored retail shopping center in Strongsville, OH, built in 1977. The 2/5/2009 inspection rated the Property in Good condition. YE 12/31/2008 NCF DSCR is 1.18x with 58% Occ as of 3/30/2009. Occ declined to below threshold due to the Property\''s loss of its largest (anchor) tenant: Office Depot (MC Sports, sub-tenant), occupied unit 15177 with 29,936 sf (25.2% NRA), at a rate of $6.85 psf; they vacated upon 12/31/2008 lease expiration. According to the 3/30/2009 rent roll, unit 15153 (15,336 sf; 12.9% NRA), which was occupied by Rite Aid since 12/1/1979 at a current rate of $4.75 psf, has gone Dark. Rite Aid''s 20-year lease expires 11/30/2009; it appears that Rite Aid still pays rent and is considered a current tenant by the Borrower. The 3/30/2009 rent roll also indicates that there are seven fully vacant spaces totaling 50,416 sf (42% NRA). The 2/5/2009 inspection notes that construction of a new free-standing Rite Aid store has been completed to the north of the subject Property, and Rite Aid vacated the subject since last inspection. Bank of America has asked the Primary Servicer (Midland as of 5/15/09; previously Capstone) to confirm with the Borrower: a) Does Rite Aid continue to pay rent on the dark unit? b) If so, how much, and is Rite Aid committed to doing so through lease exp? and c) On what date did the Rite Aid space go dark? BofA also asked Midland to obtain the Bwr''s plans for the Dark Rite Aid space, and obtain their current leasing report and marketing strategy to re-tenant the vacant units; awaiting a response.
|
| 82 |
Sentry Station |
RT |
$6,402,500 |
67,629 |
65.3 |
6.405000 % |
| 30 | 2535-2645 Battlefield Parkway, Fort Oglethorpe GA 30742 | | 0.2% | 100% | 1.75x (12 mths) | Bridger |
|  | | Tenant | % | Expires | | GFCGA L.P. | 33 | 10/31/15 | | Charles Cochran | 11 | 01/31/15 | | Archer & Associates LLC | 8 | 07/31/10 |
|
| Borrower DBSI, a TIC sponsor, filed for bankruptcy on November 10, 2008. Over 200 properties were tripped into default. On 2/4/09 the property\'s master lease was rejected, thus removing the matter from Bankruptcy jurisdiction and allowing the TIC owners to nominate new master lessees, asset managers and/or property managers for lender consent. The former Asset Manager, DBSI, recently transferred all rental income and operating funds to the newly designated Asset Manager who receives rental income going forward. This allows for timely debt service payments and Borrower will soon submit a request for formal replacement of Asset Manager. 5/7 - Borrower continues to make all loan payments in a timely manner. We are awaiting the submission of a Proposal for change in Management which will be reviewed and submitted to committee for approval upon receipt. The borrower is being contacted to inquire as to the timing of such submission. 6/15/2009 - Borrower submitted a consent package on June 5th which will be reviewed. 8/15 Borrower indicated that a draft lease with a new anchor tenant will be available for committee approval by the end of Sept.
|
| 152 |
Big Lots |
RT |
$1,950,000 |
49,106 |
79.6 |
5.836000 % |
| | 2425 State Highway 39, Lebanon IN 46052 | | 0.1% | 100% | 1.70x (6 mths) | Bank of America |
|  | | Tenant | % | Expires | | Big Lots | 57 | 12/31/13 | | Tractor Supply Co TSC | 43 | 01/14/21 | |
|