| Id | Name/ | Type/ | Bal | GLA/Units | LTV | WAC |
| | Address | Subtype | % Pool | Occ. % | DSCR | Originator |
| 15 |
Warm Springs Industrial-Las Vegas |
IN |
$33,000,000 |
309,597 |
76.7 |
6.416000 % |
| | 7350-7470 Dean Martin Drive, Las Vegas NV 89139 | | 1.5% | 78% | 1.16x (UW) | Bridger |
|  | | Tenant | % | Expires | | CONSOLIDATED RESORTS INC. | 11 | 09/30/11 | | LAS VEGAS OFFICE FURNITURE | 9 | 12/31/13 | | HOME READY INC. | 8 | 08/31/10 |
|
| 4A - Occ < 80% U/W occ. The loan is secured by a 309,588 sf industrial property in Las Vegas, NV built in 1998. The property was inspected 9/09/2008 and rated in excellent condition. 1Q 3/31/2009 NCF DSCR is 1.13 with occupancy of 78%. YE 2008 NCF DSCR is 1.16 with occupancy of 78%. The decline in occupancy is a result of American Softgel (61,319 sf or 19.80% NRA) vacating prior to their lease expiration of 9/30/2008. Based on the 12/31/2008 rent roll the Softgel space was leased and occupied by the U.S. Postal Service, however, they only occupied the space for two months around the holidays. The borrower continues to actively market the vacant space. Bank of America will continue to monitor the loan.
|
| 30 |
Trinity Ridge Business Center |
IN |
$17,036,250 |
234,336 |
73.4 |
5.888000 % |
| 90+ | 7730-7866 Trinity Road, Cordova TN 38018 | | 0.8% | 75% | 1.19x (12 mths) | Bridger |
|  | | Tenant | % | Expires | | East Memphis Printing | 7 | 01/14/10 | | memphis elite | 7 | 02/28/12 | | ATC Fitness Inc | 6 | 05/31/09 |
|
| 08/4/2009 The Sponsor (DBSI Inc.) and Master Lease Tenant for the subject loan declared bankruptcy in November 2008. A proposal from the TIC investors has been received outlining a plan to replace DBSI as the Master Lessee and reinstate the loan. Special Servicing has reviewed the proposal and is in the process of negotiating with the Borrower to determine if there is an opportunity for a workout. If negotiations breakdown or stop making positive movement Midland will start exercising all available remedies under the loan documents. As of the date of this report, the loan is next due for the March 2009 payment. The subject property is a 234,265 SF flex warehouse building located in Cordova, TN. Occupancy was 67% as of the 03/01/09 rent roll.
|