Banc of America Commercial Mortgage Trust 2007-3 as of 09/2009: RT DSCR 1.10- 1.20
All data provided by Intex
Id Name/ Type/ Bal GLA/Units LTV WAC
Address Subtype % Pool Occ. % DSCR Originator
14 Cascade Village Phase I RT $50,000,000 371,636 68.4 5.710000 %
63455 North Highway 97, Bend OR 97701 1.4% 95% 1.15x (UW) Bank of America
Tenant % Expires
JC Penney1411/30/13
Bend food 4 less1005/31/10
Joe's901/31/18
1E - DSCR < 1.10; 1F - DSCR < 1.40 & < or = 75% U/W. This Interest Only Loan originated on 5/31/2007 and is secured by a 371,649 sf retail shopping center in Bend, OR, built in 1978. The property was last inspected on 1/30/09 with a Good rating. The 1Q09 NCF DSCR is 0.94x with occupancy of 96.07%. The YE 2008 NCF DSCR was 1.15x wiht occupancy of 94.94%. The Loan was U/W at 1.29x with 83% Occ. Although revenue has increased since YE 2008 and occupancy has increased overall annualized expenses have also increased by 45% since YE 08. The largest areas of expense increases have been Utilities, Repair and Maintenance, Advertising and G&A. The borrower has been contacted regarding these expenses to find out if any of them are non-recurring, awaiting a response. Bank of America will continue to monitor the loan.
24 Yuba City Marketplace RT $27,000,000 142,804 73.0 5.895000 %
1060-1140 Harter Road, Yuba City CA 95993 0.8% 100% 1.19x (12 mths) Bridger
Tenant % Expires
MARSHALL'S -1572103/31/16
BED BATH & BEYOND -10541601/31/17
MICHAEL'S -67061503/15/16
6A - Other. The loan is secured by a 142,808 NRSF retail property in Yuba City, CA. The property was built in 2006. The property was last inspected 11/12/08 with an Excellent rating. The YE 2008 NCF DSCR is 1.19 with occupancy of 100%. The 3Q2008 NCF DSCR was 1.25 with occupancy of 100%. The property currently has an Office Depot as a tenant that occupies 13% of the GRA. Office Depot has announced that they are planning on closing 112 stores. The subject property has not been specifically named as one of the stores that will be closing but if it does the NCF DSCR would drop to 1.09. Bank of America will continue to monitor the loan.
28 252 7th Ave RT $22,000,000 80,965 79.4 5.508000 %
252 7th Avenue, New York NY 10001 0.6% 100% 1.19x (9 mths) Eurohypo AG
Tenant % Expires
CHELSEA SEVENTH GARAGE CORP10012/31/20
Chelsea Seventh Garage Corp.49.1712/31/10