152 |
Twin Creek Village Apartments |
MF |
$7,061,303 |
184 |
76.7 |
5.890000 % |
| 1300 Creekside Drive, Norman OK 73071 | | 0.2% | 76% | 0.91x (UW) | PNC |
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Property continues to perform below 1.10 threshold. Low DSCR due to base rent below undrewriting and higher than underwritten operating expenses, specifically Utilities, Payroll & Benefits and Advertising & Marketing.
|
170 |
Canyon Walk Apartments |
MF |
$5,925,000 |
166 |
69.3 |
6.290000 % |
| 1502 West Glendale Avenue, Phoenix AZ 85021 | | 0.1% | 78% | 0.22x (UW) | Countrywide Commercial |
| |
2Q 2009 DSCR dropped to 0.05 which was 4% of the UW level. Annualized 2Q 09 EGI was 75% of the UW level. Borrower is struggling to lease up this property located in Phoenix Arizona. Borrower had hope that 2008 would be better they\'ve struggled to fill up
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