| 4C – Tenant> 30% NRA lease expiration. The loan is secured by a 87,031 sf industrial property located in Redwood City, CA built in 1962 and renovated in 2000. The property was inspected 8/22/2008 and rated in good condition. YE 2008 NCF DSCR is 3.49 with occupancy of 100%. Rollover pertains to the single tenant at the property whose leases expire within the next six months. Globalware Solutions occupies 87,031 sf (100% NRA) with a lease expiration of 12/31/2009. Per the primary servicer, the borrower is currently in negotiations with the tenant to renew their lease. If for some reason they do not renew, the borrower has already located a replacement tenant. Bank of America will continue to monitor the loan.
|
