| 93 |
Milestone Square Shopping Center |
RT |
$5,208,023 |
91,545 |
51.1 |
5.335000 % |
| | 14 North Avenue, Pleasant Valley NY 12569 | | 0.2% | 77% | 1.61x (UW) | Bank of America |
|  | | Tenant | % | Expires | | A&P Fresh Market | 41.51 | 10/31/10 | | Family Dollar | 7.43 | 12/31/09 | | Charter One Bank | 3.75 | 10/31/10 |
|
| 146 |
Corner View Commons |
RT |
$2,598,618 |
22,800 |
59.1 |
5.617000 % |
| FC | 1425 Village Square Blvd., Tallahassee FL 32308 | | 0.1% | 75% | 1.22x (9 mths) | Bridger |
|  | | Tenant | % | Expires | | Titus Sports Academy, LLC | 43.86 | 12/31/09 | | Countrywide Home Loans | 24.12 | 08/31/09 | | Eleni's Coffee & Tea | 16.67 | 12/31/09 |
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| This file was transferred to SS on 3/23/09 for default, as the borrower has encumbered the property with a second and third mortgage without Lender\'s consent. The second mortgage holder has filed foreclosure. As of 3/20/09, loan is 47 days past due. Foreclosure has been initiated.
|
| 153 |
Village Square Shoppes |
RT |
$2,163,114 |
44,868 |
72.1 |
5.960000 % |
| | 3636 North High School Rd, Indianapolis IN 46224 | | 0.1% | 71% | 1.43x (6 mths) | Bridger |
|  | | Tenant | % | Expires | | Family Dollar of Indiana - Family Dollar Stores | 19.57 | 12/31/12 | | Faith Apostolic Temple Christian Center, Inc. | 8.69 | 06/30/09 | | Dan Ruiz - Mexican Grocery | 6.69 | 01/31/10 |
|
| 4A - Occupancy < 80% U/W. The loan is secured by a 44,560 sf retail property located in Indianapolis, IN built in 1969. The property was last inspected on 10/08 and received a Fair rating. YE 08 NCF DSCR was 1.16x wutg 75% occupancy. YE 2007 NCF DSCR is 1.48. YE 2006 DSCR was 1.26 with occupancy of 100%. The property manager attributes the occupancy loss, to the decline in the surrounding neighborhood. A Spanish speaking Leasing Agent has recently signed a co-brokerage agreement to help eliminate the communication barrier when attempting to lease to prospective tenants. The property is being aggressively marketed via cold-calling, advertising on Loopnet.com and CoStar. Concessions are also being offered to entice prospective tenants including free rent. The current asking rates are $7.00 - $10.00/sf NNN. Bank of America will continue to monitor the loan.
|
| 163 |
North Peoria Retail |
RT |
$947,084 |
14,399 |
46.2 |
6.108000 % |
| | 1605 North Peoria Avenue, Tulsa OK 74106 | | 0.0% | 70% | 1.44x (12 mths) | Bridger |
|  | | Tenant | % | Expires | | Cato | 28.89 | 01/31/11 | | USAF, Inc. (Image for Men and the Source) | 18.79 | 06/30/10 | | Cartridge World (God Speed Enterprises), LLC | 12.39 | 04/06/09 |
|
| 4A - Occupancy < 80 U/W. The loan is secured by a 14,400 sf retail property in Tulsa, OK. The property was last inspected in 10/08 and received a rating of good. The YE 08 NCF DSCR is 1.44x with occupancy of 70% (down from 100% in Q3 08). Per the YE 08 RR, Trendsetters (18% NRA) and Sally Beauty (11% NRA) have vacated early. There are no scheduled terminations set for 2009. Bank of America will contact the primary servicer to obtain leasing updates and will continue to monitor the loan.
|