| Id | Name/ | Type/ | Bal | GLA/Units | LTV | WAC |
| | Address | Subtype | % Pool | Occ. % | DSCR | Originator |
| 16 |
Austin Student Housing Portfolio (Rollup) |
MF |
$44,400,000 |
262 |
81.3 |
5.982000 % |
| | 2323 San Antonio Street, Austin TX 78705 |
| | 2616 Salado Street, Austin TX 78705 | | 1.4% | 100% | 1.14x (UW) | Bear Stearns |
|  |
| 1E - DSCR < 1.10. The loan is secured by two multifamily properties in Austin, Texas. Property 1 is Castillian Apts & consists of a total of 200 units. Property 2 is Texas West Campus (TWC) & consists of a total of 62. Both properties serve as student housing properties. The consolidated Q1-2009 NCF DSCR is 1.05 with a combined occ of 100%. The decline in NCF is a result of an EGI decline at both properties combined with increased OPEXP at TWC. Ann 2009 OPEXP have increased 4% at TWC due to higher than normal OPEXP. Ann 2009 EGI has declined 8% at both properties due to what appears to be a decline in occ. Per Bwr, asking rates (and are the market rates) for the Castillian range from $12,899 - $6899 annually depending on if its a one or two bdrm and if meals are included. The Castlillian is adv/mkt in High School publications, Univ newspaper, student orientations, property website, direct mailers, & banners. Rental concessions are not offered. Castlillian occ is slightly below 2 competing properties (Dobie and Towers) in occ. Dobie pre-leased occ is 79%, Towers preleased occ is 71%, & Castlillian is 64% as of 06/2009. Castlillian asking rates are slightly higher: Dobie - $7661 and Towers - $8904. Per Bwr, occ at WTC is higher than competing properties whose occupancies are ranging from 68% - 98%. WTC occ as of June is 100%. Competitors asking rates range from $475 - $1995 depending on bedroom size. WTC asking rates range from $975-$3200 depending on unit & bedroom size. WTC is advertised in Study Breaks magazine, locator svcs, & property website. Rental Concessions are not offered. Per Bwr, WTC is 100% occupied & will remain so until July 31st. At that time, the property will be 33% occupied until August 13th when again the property will be at 100% occ for the next 12 months. PAY exp increased due to higher incentives, & RM rose due to ext painting & roof work that needed to be completed. Bank of America will continue to monitor the loan.
|
| 26 |
The Mark at Salem Station |
MF |
$25,200,000 |
224 |
80.0 |
5.633000 % |
| | 11132 Sunburst Lane, Fredericksburg VA 22407 | | 0.8% | 91% | 1.18x (UW) | Bank of America |
|  |
| 68 |
Parkwood Terrace |
MF |
$8,636,000 |
144 |
71.4 |
5.730000 % |
| | 1201 East Old Settlers Road, Round Rock TX 78664 | | 0.3% | 92% | 1.17x (UW) | Bank of America |
|  |
| 92 |
DTI- University Club Apartments |
MF |
$5,702,620 |
180 |
75.0 |
5.626000 % |
| | 2424 Montgomery Road, Huntsville TX 77340 | | 0.2% | 92% | 1.10x (UW) | Bank of America |
|  |
| 94 |
Parkview Heights Heights and Meetinghouse Apartments (Rollup) |
MF |
$5,622,923 |
63 |
73.9 |
5.671000 % |
| | 37-215 Manzella Court, 85-87 Pierce Road, 266-282 Hingham Street, 18-53 Cobb Drive, Rockland MA 02370 |
| | 33 Randolph Street, Abington MA 02351 | | 0.2% | 95% | 1.19x (UW) | Bank of America |
|  |
| 97 |
Royale Apartments |
MF |
$5,640,000 |
76 |
79.4 |
5.600000 % |
| | 65 & 75 Oaklawn Avenue, Cranston RI 02920 | | 0.2% | 97% | 1.13x (9 mths) | Bank of America |
|  |
| 101 |
Ivy Ridge Apartments |
MF |
$5,230,343 |
135 |
77.5 |
5.728000 % |
| | 2057 Hudson Avenue, Rochester NY 14617 | | 0.2% | 93% | 1.10x (UW) | Bank of America |
|  |
| 107 |
DTI- Scandia Apartments |
MF |
$4,784,401 |
152 |
74.2 |
5.626000 % |
| | 401 Anderson Drive, College Station TX 77840 | | 0.2% | 99% | 1.13x (9 mths) | Bank of America |
|  |
| 117 |
DTI- Gables Apartments |
MF |
$4,251,918 |
128 |
77.3 |
5.596000 % |
| | 401 University Oaks Boulevard, College Station TX 77840 | | 0.1% | 100% | 1.11x (9 mths) | Bank of America |
|  |
| 144 |
DTI- Paper Moon Apartments |
MF |
$3,179,345 |
104 |
77.5 |
5.646000 % |
| | 2213 Bobby K Marks Drive, Huntsville TX 77340 | | 0.1% | 83% | 1.13x (9 mths) | Bank of America |
|  |