Banc of America Commercial Mortgage Trust 2007-2 as of 09/2009: SS DSCR 1.10- 1.20
All data provided by Intex
| Id | Name/ | Type/ | Bal | GLA/Units | LTV | WAC | |
|---|---|---|---|---|---|---|---|
| Address | Subtype | % Pool | Occ. % | DSCR | Originator | ||
| 58 | Simply Self Storage Portfolio (Rollup) | SS | $10,300,000 | 2,144 | 75.0 | 5.567000 % | |
| 6901 Hawthorn Park Drive, Indianapolis IN 46220 | |||||||
| 810 East Cooke Road, Columbus OH 43214 | |||||||
| 7937 West 10th Street, Indianapolis IN 46214 | |||||||
| 4628 Northwestern Drive, Zionsville IN 46077 | 0.3% | 67% | 1.15x (12 mths) | Bank of America | |||
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| 67 | Storamerica El Monte | SS | $8,800,000 | 514 | 78.6 | 5.549000 % | |
| 3830 Santa Anita Avenue, El Monte CA 91731 | 0.3% | 88% | 1.11x (12 mths) | Bridger | |||
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| 171 | Stars & Stripes Storage | SS | $1,651,682 | 393 | 66.6 | 6.170000 % | |
| 103 Luken Road, Goose Creek SC 29445 | 0.1% | 71% | 1.14x (9 mths) | Bridger | |||
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| 1E - DSCR < 1.10. The loan is secured by a 393 unit self storage facility in Goose Creek, SC built in 1986. The proeprty was inspected on 06/25/08; rated in Good condition. The YE 2008 NCF DSCR is 1.03 with an occ of 75%. The decline in NCF is a result of an EGI decline combined with increased operating expenses. 2008 EGI has declined 4% from YE 2007 due to an occupancy decline. Occupancy drop first occurred during Q3-2008 where it dropped from the mid 80 percentile to current level of low to mid 70 percentile. Per Bwr, the decline in occupancy is attributed to several new developments in the market area combined with current slow economy. Current asking rates are $86 for a 10x10 unit. Market rates are $92 for a 10x10 unit as per Borrower. Property is advertised in two military publications and the yellow pages. Concessions are offered in the form of 15% discount for military tenants and 2nd month free for new tenants. Occupancy as of 06-22-09 is 74%. 2008 operating expenses have increased due to an increase in Real Estate Taxes. Bank of America will continue to monitor the loan. | |||||||