| Tenant | % | Expires | |
|---|---|---|---|
| Jareds | 12 | 01/31/27 | |
| TLC Vision | 9 | 04/30/12 | |
| Verizon | 8 | 01/31/11 |
| Tenant | % | Expires | |
|---|---|---|---|
| Phuoc Tan Nguyen dba Beauty Supply Retail Shop | 28 | 05/31/12 | |
| Tam Nguyen & Phat Nguyen dba Tam Grocery Store | 25 | 05/31/11 | |
| Au Tu dba Coffee Tea Room | 18 | 05/31/12 |
| Id | Name/ | Type/ | Bal | GLA/Units | LTV | WAC | |||||||||||||||||
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| Address | Subtype | % Pool | Occ. % | DSCR | Originator | ||||||||||||||||||
| 23 | The Pointe at Bridgeport | RT | $23,984,021 | 48,763 | 71.0 | 5.694000 % | |||||||||||||||||
| 7174 Southwest Hazel Fern Road, Tigard OR 97224 | 1.3% | 77% | 0.92x (UW) | Bank of America | |||||||||||||||||||
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| 1E - DSCR < 1.10. The loan is secured by a 48,764 sf retail/office property in Tigard, OR built in 2007. The property was inspected on 06/26/08; rated in Good condition. Q1-2009 NCF DSCR is 1.02 with an occ of 79%; YE 2008 NCF DSCR was .92 with an occ of 77%. The decline in NCF is a result of increased operating expenses. Annualized 2009 Oper Exp have increased 9% from YE 2008 and 2008 OPEXP had increased 53% from U/W due to recurring PROF & GEN/ADMIN exp (as per Bwr) that were not anticipated at U/W and higher than normal RET. PROF fees represent ann. acct. fees.GEN/ADMIN exp include phone, fire,land lease, & license fees. 2008 reported real estate taxes of $195,835 have doubled compared to 2007 reported real estate taxes of $96,033. Per Bwr, RET increase is due to increased valuation. As of the 03/09 RR, vacant sf is 12,673.The RR indicates that 3612 sf will be occupied by Keybank effective 06/22/09 for a 10 yr term- & 2473 sf will be occupied by Basha Spa & Laser for a 3 year term @ $25 PSF, For the remaining 6,588 sf, LOI\''s have been sent to three tenants for sf totaling 5,400 sf. Asking rates range from $45-$47 PSF with $40 PSF TI. Property is listed with Gray & Assoc whose mkt efforts include direct cold calls, ICSC functions, brochures, and website. Bank of America will continue to monitor the loan. | |||||||||||||||||||||||
| 99 | Horsepen Retail Center | RT | $1,203,508 | 9,004 | 63.3 | 6.990000 % | |||||||||||||||||
| 90+ | 6316 Horsepen Road and 6313 Rigsby Road, Richmond VA 23226 | 0.1% | 0.93x (12 mths) | Bridger | |||||||||||||||||||
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| The Mortgage Loan was transferred to Special Servicing effective 3/4/09 due to the Borrower\'s failure to make the scheduled payment due 1/1/09 and all subsequent monthly payments due thereafter. The Special Servicer delivered to Borrower and Guarantor a Hello Letter dated 3/20/09. The Special Servicer was contacted by Borrower counsel on 6/3/09. Occupancy was 93% as of 5/31/08 (TTM) with NOI of $107,329 and NCF of $96,826 with corresponding DSCRs of 1.03x and 0.93x, respectively. Occupancy was 93% as of 6/1/09 but no updated operating statements have been provided by borrower. Special Servicer has engaged counsel and third party reports have been received in preparation of foreclosure. Borrower has not provided details regarding the relief that is needed in order to resolve the payment issues. | |||||||||||||||||||||||