| Id | Name/ | Type/ | Bal | GLA/Units | LTV | WAC |
| | Address | Subtype | % Pool | Occ. % | DSCR | Originator |
| 48 |
Colonial Village at Haverhill Apt Homes |
MF |
$22,200,000 |
322 |
76.6 |
6.100000 % |
| Gasping for air | 12222 Vance Jackson Road, San Antonio TX 78230 | | 0.5% | 92% | 0.91x (UW) | PNC |
|  |
| The sponsorship of the borrower includes Michael Smuck and the property management company may be MBS Management, a Smuck owned and controlled entity. It has been reported that MBS Management and numerous Smuck controlled borrowing entities have filed for bankruptcy protection. Midland is awaiting information from the bankruptcy court(s) to identify the specific borrowing entities that have filed bankruptcy. Loan placed on Watchlist due to covenant compliance violation: A technical default letter has been sent to the Borrower on this loan because it has failed to provide the required monthly financial statements for the periods ending 10/31/07, 11/30/07, and 12/31/07, which would be used to calculate the amount of excess cash flow the Borrower owes each month. Low DSCR due to below underwritten income and above underwritten operating expenses.
|
| 106 |
Lythgoe MFH Portfolio |
MF |
$12,313,957 |
176 |
79.5 |
6.550000 % |
| 90+ | 2001-2171 West 80th Avenue, Anchorage AK 99502 |
| 90+ | 2100-2110 Strawberry Road, Anchorage AK 99502 |
| 90+ | 7321-7327 Woburn Circle, Anchorage AK 99502 |
| 90+ | 2625-2651 East 64th Avenue, Anchorage AK 99507 |
| 90+ | 3855 Lunar Drive, Anchorage AK 99504 |
| 90+ | 7100 Bearfoot Drive, Anchorage AK 99502 | | 0.3% | 99% | 0.99x (UW) | Countrywide Commercial |
|  |
| Collecting information and evaluating situation.
|
| 137 |
LaSalle Apartments |
MF |
$8,453,251 |
121 |
72.8 |
5.980000 % |
| | 36 South 9th Street, Minneapolis MN 55402 | | 0.2% | 89% | 0.99x (6 mths) | Merrill Lynch |
|  |
| 2Q 2009 occupancy decreased to 89% and as a result, ASCR dropped to 0.99.
|
| 142 |
3515 Arlene Drive |
MF |
$8,085,022 |
140 |
73.6 |
6.210000 % |
| | 3515 Arlene Drive, Branson MO 65616 | | 0.2% | 90% | 0.92x (UW) | Merrill Lynch |
|  |
| 2Q 09 DSCR increased to 0.96 from the 2008 level of 0.92 and annualized 1 Q 09 EGI was 99% of UW. Previous Comments: Borrower stated that the downturn in the economy has hit Branson pretty hard. They are trying their best to try to lease out the remaining
|
| 152 |
Twin Creek Village Apartments |
MF |
$7,061,303 |
184 |
76.7 |
5.890000 % |
| | 1300 Creekside Drive, Norman OK 73071 | | 0.2% | 76% | 0.91x (UW) | PNC |
|  |
| Property continues to perform below 1.10 threshold. Low DSCR due to base rent below undrewriting and higher than underwritten operating expenses, specifically Utilities, Payroll & Benefits and Advertising & Marketing.
|
| 185 |
Doux Chene |
MF |
$5,057,335 |
352 |
56.2 |
6.450000 % |
| | 2101 Harvey Mitchell Parkway South, College Station TX 77840 | | 0.1% | 97% | 0.99x (UW) | Merrill Lynch |
|  |
| 203 |
Wood Ridge Apartments |
MF |
$3,869,067 |
134 |
77.4 |
6.060000 % |
| | 1900 Burton Drive, Austin TX 78741 | | 0.1% | 100% | 0.92x (UW) | Countrywide Commercial |
|  |
| 2Q 2009 occupancy dropped to 67%, wcich led to lower income and reduced DSCR of 0.44 or 38% of UW. Previous notes: YE 2008 DSCR .92x with occupancy at 100%. Utility expense increased substantially from previous years which is attributed to the colder wint
|