| Id | Name/ | Type/ | Bal | GLA/Units | LTV | WAC |
| | Address | Subtype | % Pool | Occ. % | DSCR | Originator |
| 9 |
First Colony Mall |
RT |
$187,822,973 |
416,080 |
67.1 |
5.626000 % |
| Gasping for air | 16535 Southwest Freeway, Sugar Land TX 77479 | | 4.2% | 99% | 1.05x (9 mths) | Merrill Lynch |
|  | | Tenant | % | Expires | | AMC Theatres | 21.46 | 12/31/17 | | Barnes & Noble | 7.21 | 11/01/27 | | Pottery Barn | 3.65 | 01/31/18 |
|
| Borrower General Growth Properties (GGP) filed for Chapter 11 Bankruptcy Protection on April 16, 2009. A statement released by the company indicates that GGP intends to pursue strategic reorganization to preserve its business operations during the bankruptcy process. The property\''s DSCR is low due to the fact that the loan was underwritten at stabilized vs. in-place levels. Revenues remain 4% below underwriting, while expenses are 4% above.
|
| 10 |
Pinnacle Hills Promenade |
RT |
$140,000,000 |
425,959 |
78.9 |
5.570000 % |
| Gasping for air | 2203 Promenade Boulevard, Rogers AR 72758 | | 3.1% | 94% | 1.00x (9 mths) | Merrill Lynch |
|  | | Tenant | % | Expires | | JC Penney | 23.01 | 09/30/26 | | Malco Theatre | 10.06 | 01/31/22 | | Best Buy | 7.14 | 01/31/17 |
|
| Guarantor on the loan, General Growth Properties (GGP), filed for Chapter 11 Bankruptcy Protection on April 16, 2009. A statement released by the company indicates that GGP intends to pursue strategic reorganization to preserve its business operations during the bankruptcy process. Loan\''s DSCR is low due to the fact that the loan was underwritten at stabilized rents vs. in-place rents and due to the property being in lease up phase. The subject property is a 627,675 sf open-air lifestyle center opened in October 2006.
|
| 11 |
Central Park Shopping Center |
RT |
$125,000,000 |
665,495 |
78.6 |
5.825000 % |
| Gasping for air | 1201 Central Park Boulevard, Fredericksburg VA 22401 | | 2.8% | 89% | 1.09x (12 mths) | IXIS |
|  | | Tenant | % | Expires | | Linen's N Things | 5.36 | 01/31/15 | | Office Depot | 4.51 | 12/31/17 | | Fitness Equation | 4.36 | 12/31/10 |
|
| Decrease in DSCR due to an increase in overall expenses, specifically TI/LC\''s. Linens N Things (35,656 SF, 5.67% NRA, $12.91/SF) is being liquidated after filing for bankruptcy. An impact analysis without Linens N Things is a NOI/NCF DSCR of 1.14/1.03 and occupancy of 83.93% based on the 12/31/08 operating statement and 5/31/09 rent roll.
|
| 22 |
Greeley Mall |
RT |
$41,400,000 |
417,633 |
76.6 |
6.230000 % |
| | 2050 Greeley Mall Street, Greeley CO 80631 | | 0.9% | 60% | 1.08x (UW) | Countrywide Commercial |
|  | | Tenant | % | Expires | | Dillard's | 22.33 | 06/30/08 | | J.C. Penney | 11.89 | 10/31/17 | | Cinemark Theatres | 10.78 | 04/30/24 |
|
| 1Q 2009 occupancy decreased further to 53.8% and was 57% of UW. DSCR was 1.03, which was a decrease from the 2008 level of 1.08. However, per Susan Dewar, Director of Finance for GK Development, Road Kill Grill has recently signed a lease to occupy an out
|
| 30 |
Elm Ridge Center |
RT |
$31,697,098 |
480,987 |
72.0 |
5.960000 % |
| | 3530-3820 West Ridge Road, Greece NY 14626 | | 0.7% | 92% | 1.02x (UW) | Countrywide Commercial |
|  | | Tenant | % | Expires | | Sams Wholesale Club | 27.32 | 06/30/11 | | Wal-Mart Stores, Inc. | 26.85 | 06/28/11 | | Tops Market, LLC | 17.46 | 11/30/12 |
|
| 69 |
Perris Town Center |
RT |
$18,000,000 |
132,051 |
79.7 |
5.740000 % |
| | 15-138 West Nuevo Road, Perris CA 92571 | | 0.4% | 90% | 1.07x (UW) | Merrill Lynch |
|  | | Tenant | % | Expires | | Starter Bros. | 26.68 | 11/30/13 | | Rite Aid | 25.00 | 01/31/14 | | Big Lots | 11.36 | 01/31/08 |
|
| 179 |
Paseo Plaza |
RT |
$5,544,563 |
60,025 |
79.2 |
6.300000 % |
| | 1805 East Ruben Torres Boulevard, Brownsville TX 78526 | | 0.1% | 83% | 1.03x (6 mths) | Countrywide Commercial |
|  | | Tenant | % | Expires | | Linbarger, Goggan, Blair | 8.74 | 05/15/11 | | Blockbuster | 8.56 | 02/20/08 | | Uchi Japanese Restaurant | 6.43 | 12/31/10 |
|
| 196 |
Miyako Mall |
RT |
$4,393,621 |
25,226 |
57.9 |
6.250000 % |
| | 22 Peace Plaza, San Francisco CA 94115 | | 0.1% | 83% | 1.01x (UW) | Countrywide Commercial |
|  | | Tenant | % | Expires | | Genju Antiques | 25.56 | 02/15/09 | | Lianzhong/Rare & Exotic Stones | 12.35 | | | Takara Restaurant | 9.78 | 01/31/11 |
|
| During 2Q 09 the property has experienced improvement in operations. With the increase in occupancy, DSCR grew to 1.19 abd EGI increased over the UW level. Vacant units and they are currently are being marketed for lease.
|
| 209 |
Laguna Village Plaza |
RT |
$3,676,511 |
16,497 |
61.3 |
6.050000 % |
| 30 | 9168-9174 Franklin Boulevard, Elk Grove CA 95758 | | 0.1% | 100% | 1.03x (9 mths) | Countrywide Commercial |
|  | | Tenant | % | Expires | | Sylvan Learning Center | 21.10 | 07/17/09 | | Kovar Karate Center | 16.97 | 07/17/09 | | Super Supper | 12.24 | 09/30/09 |
|
| Loan transferred for imminent default. Local counsel has been retained and is starting the foreclosure process. Discussions with Borrower are ongoing.
|
| 222 |
Teems Retail Portfolio |
RT |
$3,284,979 |
53,249 |
68.8 |
6.850000 % |
| | 2093 North Highway 42, Jenkinsburg GA 30234 |
| | 3530 Walt Stephens Road, Stockbridge GA 30281 |
| | 2260 Jonesboro Road, McDonough GA 30253 |
| | 200 Mulberry Street, Jackson GA 30233 |
| | 4462 Walt Stephens Road, Stockbridge GA 30281 | | 0.1% | 82% | 1.00x (9 mths) | Countrywide Commercial |
|  | | Tenant | % | Expires | | Larry Stoner (CPA) | 29.27 | 04/30/09 | | Ace Cleaners | 24.39 | 12/31/07 | | Dardiers Rodgers (Allstate Insurance) | 24.39 | 04/30/08 |
|
| 1Q 09 occupancy increased to 93%. DSCR stayed close to the 2008 level at 0.83, which was 69% of the UW level. Previous comments: Borrower stated that Paul\'s Play World went out of business, but there are a lot of potential tenants interested in the space.
|
| 272 |
Taylor Plaza-Montgomery |
RT |
$1,140,757 |
12,099 |
63.4 |
6.340000 % |
| | 7711 Averiett Drive, Montgomery AL 36116 | | 0.0% | 79% | 1.08x (UW) | Countrywide Commercial |
|  | | Tenant | % | Expires | | Blue Moon Cafe | 33.52 | 11/30/18 | | Campbell Services of Alabama | 20.72 | 09/30/08 | | World of Tobacco & Beverage | 13.97 | 07/19/08 |
|
| During 2Q 09 the occupancy remained at 78.6% which is in line with the UW level. Egi was 83% of UW but DSCR dropped to 0.93 or 73% of UW. Increase in the cost of utilities and reduction in rental income led to the lower DSCR. Previous comments: Borrower l
|