| Id | Name/ | Type/ | Bal | GLA/Units | LTV | WAC |
| | Address | Subtype | % Pool | Occ. % | DSCR | Originator |
| 11 |
One Old Country Road |
OF |
$50,192,958 |
320,414 |
75.4 |
5.350000 % |
| | 1 Old Country Road, Carle Place NY 11514 | | 1.9% | 88% | 0.73x (9 mths) | Bank of America |
|  | | Tenant | % | Expires | | 1-800 Flowers.com | 29.11 | 02/28/18 | | Rosicki, Rosicki & Assoc | 5.78 | 04/30/06 | | Tri Rehabilitation Institute | 4.36 | 02/14/08 |
|
| 1E - DSCR < 1.10; 1F - DSCR < 75% U/W. The loan is secured by a 314,983 sf office property located in Carle Place, NY built in 1970. The property was inspected on 7/23/2008 and rated in Good condition. 3Q 2008 NCF DSCR is 0.74x with occupancy of 88%. 1Q 08 NCF DSCR was 0.98x with occupancy of 87% while YE 2007 NCF DSCR was 0.82x with occupancy of 91%. YE 2006 NCF DSCR was 1.00x with occupancy of 94%. YE 2007 EGI was $8,324,834 a 4.7% decline from YE 2006. A portion of the decline is due to rental concessions in the amount of $103.9K given to new and renewing tenants. YE 2007 operating expenses are $4,943,478 a 5.3% increase from YE 2006. The previous borrower stated that approximately, $207,000 of the YE expenses were a result of legal expenses and Environmental reports due to the pending sale of the property and would be non-recurring. Bank of America will contact the borrower regarding the performance and will continue to monitor the loan.
|
| 50 |
1301 Virginia Drive |
OF |
$13,222,659 |
104,436 |
75.1 |
5.216000 % |
| | 1301 Virginia Drive, Ft. Washington PA 19034 | | 0.5% | 81% | 1.01x (UW) | Bank of America |
|  | | Tenant | % | Expires | | Bayview | 43.12 | 02/28/18 | | GECC | 21.52 | 09/30/07 | | Alfred Angelo, Inc. | 13.38 | 07/31/10 |
|
| 1E - DSCR < 1.10, 6A – Tenant Default. The loan is secured by a 104,433 sf office property located in Fort Washington, PA built in 1984. The property was inspected on 09/08/2008 and rated in Good condition. Q1 09 NCF DSCR was 1.11x with occupancy of 84%. YE 2008 NCF DSCR is 1.01x with 80% occupancy. 3Q 9/30/2008 NCF DSCR is 0.99 with occupancy of 77%. 2Q 6/30/2008 DSCR was 0.96 with occupancy of 78%. YE 2007 DSCR was 1.51 with occupancy of 78%. The DSCR decline is due to a decline in rental income triggered by the vacancy. The largest tenant at the property, GEMSA, vacated the premises upon their lease expiration (9/30/2007). The borrower is actively working to re-lease the space and is currently negotiating with a prospective tenant for approx. 8,000 sf. In addition to the decreased rental income, the expenses for 2008 increased due to necessary repairs for electrical, elevator and building interiors that were not completed in 2007. These additional repair expenses totaled $17,196 in Q1 08. None of these repairs are classified as nonrecurring or capital expenses. CMSA code 6A pertains to the tenant Onyx Acceptance Corp. (3,492 sf, 3.34% NRA) who breached the terms of their lease by vacating their premises prior to the lease expiration of 6/09. The borrower was able to recover rent payment from the tenant through 4/09 (two months before the original expiration). Bank of America will continue to monitor the loan.
|
| 87 |
Rainbow Plaza |
OF |
$6,600,000 |
55,536 |
65.3 |
5.205000 % |
| | 2655 & 2685 Rainbow Boulevard, La Vegas NV 89146 | | 0.2% | 81% | 1.17x (UW) | Bank of America |
|  | | Tenant | % | Expires | | KGDO Holdings | 23.22 | 04/30/06 | | Summit Insurance Services | 9.49 | 12/31/06 | | F/F/E Associates | 9.28 | 02/15/06 |
|
| 1F DSCR <1.40 & <= 75% U/W. The loan is secured by a 55,535 sf office building located in Las Vegas, NV built from 1992. The property was last inspected on 9/10/2008 and rated in good condition. Q1 09 NCF DSCR was 1.56 with occupancy of 79%. YE 08 NCF DSCR is 1.17 with occupancy of 81%. 3Q 9/30/08 NCF DSCR is 1.16 with occupancy of 78%. 2Q 6/30/2008 NCF DSCR is 1.15 with occupancy of 77% as of 8/7/2008. 1Q 3/31/2008 NCF DSCR is 1.33 with occupancy of 73%. YE 2007 DSCR was 1.58 with occupancy of 77%. YE 2006 DSCR was 2.04 with occupancy of 92%. U/W occupancy was 100%. During 2007 the property lost 2 tenants, Excel-lent Mortgage 1,729 sf, 3.1% NRA on 6/30/2007 and the Teachers National Retirement 960sf, 1.7% NRA on 1/31/2007, to reduce total occupancy below 80%. The borrower has recently contracted with Commercial Executive Realty, a local leasing company, to help market the space. Commercial Realty is located on the same street as the property and is very familiar with the market. Additionally, they are having bi-weekly leasing meetings, which include property managers from all their properties, where they discuss issues and concerns with the market. The loan is above the WL threshold and will be removed with Q2 09 reporting. Bank of America will contact the borrower for leasing updates and will continue to monitor the loan.
|
| 121 |
Mission Hospital Office |
OF |
$3,824,320 |
20,818 |
47.0 |
5.197000 % |
| | 1031 Avenida Pico, San Clemente CA 92673 | | 0.1% | 87% | 1.76x (12 mths) | Bridger |
|  | | Tenant | % | Expires | | Mission Hospital Regional Medical Center | 50.73 | 04/30/14 | | E. John Moreno D.M.D., Inc. | 12.02 | 07/31/14 | | Body Awareness - Physical Therapy, Inc. | 12.02 | 03/31/14 |
|
| 130 |
The Plaza Office Building B |
OF |
$3,450,298 |
27,807 |
70.4 |
5.427000 % |
| FC | 2320 Paseo Del Prado, Las Vegas NV 89102 | | 0.1% | 87% | 1.09x (6 mths) | Bridger |
|  | | Tenant | % | Expires | | Tepper | 10.76 | 04/30/09 | | Nevada Aneshesia Consultant (B203 - 204) | 8.28 | 04/30/07 | | Fisher Appraisal Services Inc. (B101 and 102) | 8.13 | 04/30/06 |
|
| The receiver continues to try to lease up the property, but progress has been slow due to market conditions.
|
| 161 |
Carmel Centre II |
OF |
$1,201,118 |
10,600 |
54.6 |
5.520000 % |
| | 3965 W. 106th Street, Carmel IN 46032 | | 0.0% | 88% | 1.35x (9 mths) | Bridger |
|  | | Tenant | % | Expires | | Nancy Z. Halsema, PC | 33.58 | 12/31/14 | | Kelly L. Gelarden, Larry Koval and Harvey O. Markley, MDs | 29.87 | 01/31/10 | | David L. Judy, DDS, MS , PC | 24.53 | 09/30/12 |
|