| 79 |
Mammoth Encinitas West |
OF |
$5,500,000 |
30,693 |
48.9 |
6.330000 % |
| | 171 Saxony Road, Encinitas CA 92024 | | 0.3% | 77% | 1.22x (UW) | GACC |
|  | | Tenant | % | Expires | | Ten Asset Management | 13.77 | 05/31/09 | | The Heller Real Estate Group | 8.37 | 04/30/10 | | Siennax, Inc. | 5.40 | 08/31/09 |
|
| 08/11/09: The Mammoth Encinitas West loan is secured by a 25,523 sf office building built in 2003. To date no major renovation have been made. For Q1 2009 property occupancy has increased and is driving improvement in NOI and DSCR for the period. Q1 2009 DSCR is 1.54X and occupancy is 80%. FYE DSCR NCF of 1.22x vs 1.71 at UW is as a result of rental income underwritten at 87% Occupancy. Occuancy for 2008 ranged in the mid to high 70%. This resulted in a a 2008 EGI variance from UW of -12% at $818,227.56.
|
| 149 |
Westbrook Office Park |
OF |
$2,100,000 |
10,028 |
74.2 |
6.190000 % |
| | 8631 West Union Hills Drive, Peoria AZ 85382 | | 0.1% | 77% | 1.35x (UW) | Artesia |
|  | | Tenant | % | Expires | | Will and Kamal Jeffers | 43.45 | 04/30/11 | | Vistancia, LLC | 33.95 | 01/31/11 | | Republic Home Mortgage | 22.60 | 11/30/09 |
|