| Id | Name/ | Type/ | Bal | GLA/Units | LTV | WAC |
| | Address | Subtype | % Pool | Occ. % | DSCR | Originator |
| 44 |
Visalia Pavilion |
RT |
$11,920,000 |
33,354 |
80.0 |
5.952000 % |
| | 3927 West Caldwell Avenue, Visalia CA 93277 | | 0.5% | 100% | 0.87x (UW) | Bank of America |
|  | | Tenant | % | Expires | | Buffets Inc. dba Tahoe Joe;s -831 | 21 | 12/31/22 | | In-Shape Health Clubs Inc. | 19 | 09/30/09 | | Gayle Mosby dba Visalia Pet Fair | 11 | 09/30/14 |
|
| 1E- DSCR < 1.10, 1F DSCR <1.40 & <= 75% U/W, 4B EGI< U/W EGI & < 1.10. The loan is secured by a 33,355 sf retail property in Visalia, CA built in 2007. The property was inspected 9/09/2008 and rated in good condition. 1Q 3/31/2009 NCF DSCR is 0.61 with occupancy of 100%. YE 2008 DSCR was 0.88 with occupancy of 100%. The property was underwritten at a 1.02 DSCR and has not yet stabilized. U/W included master lease income plus rents for tenants who were not in occupancy. The U/W EGI was $1,419,723 compared to the YE 2008 reported EGI of $875.637. At U/W a rent and reimbursement escrow totaling $434,152.75 was required to mitigate tenants with executed leases that had not taken occupancy. As of July 2009, the balance of the rent reimbursement escrow is $238,916. Additionally the borrower executed a master lease for 4,381 sf (13.1% NRA) of vacant space that will provide 14.9% GPR income. The master lease term is 10 years expiring July 2017 at $33.62/sf and guaranteed by the borrower principal. Bank of America will continue to monitor the loan.
|
| 87 |
Wickes Furniture Store |
RT |
$5,767,155 |
42,792 |
52.9 |
6.596000 % |
| Gasping for air | 825 South Rand Road, Lake Zurich IL 60047 | | 0.3% | 100% | 0.86x (UW) | Bank of America |
|  | | Tenant | % | Expires | | Gags and Games Inc. | 100 | 11/17/08 | | |
|
| 1E – DSCR < 1.10, 1F - DSCR <1.40 & <= 75% U/W, 4A - Occ < 80% U/W occ, 4B – EGI < U/W EGI & < 1.10. The loan is secured by a 42,792 sf retail property in Lake Zurich, IL built in 2007. The property was inspected 8/19/2008 and rated in good condition. 1Q 3/31/2009 NCF DSCR is -0.38 with occupancy of 0%. YE 2008 NCF DSCR is 0.86 with occupancy of 0%. The subject was originally occupied by Wickes Furniture who filed bankruptcy in February 2008 and vacated the premises. The borrower leased the vacant space to Gags and Games, Inc. DBA Halloween USA for a term of 7/18/2008 – 11/17/2008. The DSCR has fallen due to lack of rental income since the subject is now 100% vacant. The borrower has indicated they have a very interested tenant who has begun lease negotiations. The lease will be 12 to 15 months, for a gross amount (vs. NNN), and will contain provisions allowing the borrower to terminate the lease if a better deal comes along (higher rent, longer term, etc.). The tenant is a Chicago Regional, low-price furniture retailer and the borrower hopes to have the signed lease by the end of June. The lease has been submitted by the borrower for Servicer approval and has been approved by the Master Servicer, Special Servicer and Directing Certificate holder. The borrower remains unconcerned about the vacancy at the subject and confirmed that they do not foresee any problems with covering the mortgage payments while the subject remains vacant. Bank of America will continue to monitor the loan.
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