| Id | Name/ | Type/ | Bal | GLA/Units | LTV | WAC |
| | Address | Subtype | % Pool | Occ. % | DSCR | Originator |
| 6 |
The Terrace Apartments |
MF |
$55,200,000 |
563 |
55.9 |
5.067000 % |
| | 21311 Alder Drive, Santa Clarita CA 91321 | | 3.6% | 89% | 2.18x (12 mths) | Bank of America |
|  |
| 21 |
Fontenelle Hills Apartments |
MF |
$14,756,954 |
338 |
77.3 |
5.120000 % |
| | 200 Martin Drive, Bellevue NE 68005 | | 1.0% | 89% | 1.33x (UW) | Bank of America |
|  |
| 57 |
Park Place |
MF |
$7,400,000 |
128 |
43.5 |
4.857000 % |
| | 101 Bridewell Street, Los Angeles CA 90042 | | 0.5% | 85% | 2.95x (UW) | Bank of America |
|  |
| 66 |
Margate on Cone Apartments |
MF |
$5,643,589 |
233 |
77.3 |
5.100000 % |
| | 900 A East Cone Blvd., Greensboro NC 27405 | | 0.4% | 85% | 1.49x (9 mths) | Bank of America |
|  |
| 82 |
Heritage Place Apartments |
MF |
$4,035,000 |
105 |
79.6 |
5.507000 % |
| | 700 Westminster Drive, Franklin TN 37067 | | 0.3% | 84% | 1.99x (UW) | Bank of America |
|  |
| 87 |
Villa West Apartment |
MF |
$3,681,208 |
208 |
75.1 |
4.969000 % |
| | 3500 Finfeather, Bryan TX 77801 | | 0.2% | 80% | 0.98x (9 mths) | Bank of America |
|  |
| 104 |
Linden Court |
MF |
$2,686,731 |
80 |
70.7 |
5.298000 % |
| | 9181 Academy Road, Philadelphia PA 19114 | | 0.2% | 86% | 0.96x (UW) | Bear Stearns |
|  |
| 1E - DSCR < 1.10 and 1F - DSCR <= 75% U/W DSCR. The loan is secured by a 80 unit multifamily property in Philadelphia, PA built in 1962 and renovated in 2004. The property was inspected on 08/13/08; rated in Good condition. Q1-2009 NCF DSCR is .67 with an occupancy of 91%; YE 2008 NCF DSCR was .96 with an occupancy of 86%. The decline in NCF is a result of increased operating expenses combined with a slight decline in EGI.. Annualized 2009 operating expenses have increased 22% from YE 2008 and YE 2008 had increased 18% from YE 2007 due to higher than normal repairs/maintenance, payroll, and utility expenses. Per Bwr, Util have increased due to increase in gas rates. Bwr stated that they have replaced each unit with new thermostats and fixed all leaks in the bldg in order to cut some costs with the UTIL. Bwr also noted that due to location of the property, UTIL exp run higher during the winter (Q4 &Q1). RM exp rose due to roof repair expenses and rehabiliation of 7 apts done during Q4-08 & Q1-2009 as per Bwr. All repairs are normal and routine exp associated with running a property as per Bwr. Annualized 2009 EGI has declined 3% from YE 2008 due to a base rent decline. Dec 2008 occupancy showed a 10% from YE 2007 and 11% from June 2008; however, has risen to prior level of 90 percentile as of March 2009. Per Bwr, many of the tenants worked for Natl Guard, and during Q4-2008 they were sent to Iraq which caused occ drop. As of 05/09, occ has increased to 89%. Asking rates range from $650-$875 depending on unit. Per Bwr, asking rates are below mkt rates. Mkt/Adv includes apts.com, craiglist.com, community adv, and walk-ins. Concessions are offered in winter in form of 2 weeks free with 1 year lease, or 1 month free with 2 year lease. Bank of America will continue to monitor the loan.
|
| 96 |
Lakeshore Colonial Apartments |
MF |
$3,296,578 |
112 |
78.5 |
5.150000 % |
| | 3910 West Erie Avenue, Lorain OH 44052 | | 0.2% | 88% | 1.76x (9 mths) | Bridger |
|  |
| 120 |
Parkview Manor Apartments |
MF |
$1,992,496 |
66 |
75.5 |
5.710000 % |
| | 19740 & 19756 Lorain Road, Fairview Park OH 44126 | | 0.1% | 88% | 1.21x (12 mths) | Bridger |
|  |