$13,100,000 Perm (6.01% Fixed Rate) - FINfacts

KEY RATE INDICES

FANNIE MAE RATES *

Prime Rate	4.00%
11th District	2.018%
3 Mo. T’s (YTM)	0.93%
6 Mo. T’s (YTM)	1.01%

5 Yr. U.S. T’s	2.92%
10 Yr. US T’s	4.01%
30 Yr. US T’s	4.95%
12-MAT	1.342%

LIBOR - 1 mo.	1.12%
LIBOR - 3 mo.	1.14%
LIBOR - 6 mo.	1.18%
LIBOR - 1 yr.	1.31%

Tier 2+ (80% LTV)	5.61%
Tier 3+ (65% LTV)	5.43%
Tier 4+ (55% LTV)	5.23%
10 yr. term/30 yr. amort.

TRANSACTION OF THE WEEK!

$13,100,000 Perm (6.01% Fixed Rate) for Mixed Use -- Senior’s Apartments over Retail -- Located in the Heart of Downtown Burbank: This 4 story early 1990’s project was the first mixed-use development of its kind in Burbank. Property Specs: 134 age-restricted apartments (55 and older) totaling 61,000 s.f.; ground floor retail consisting of 8 retail tenants totaling 34,000 s.f. including 3 restaurants, fitness center, and a bank. Note that 20% of the apartments are occupied by “Section 8” tenants. During processing, the lender increased the loan amount by $100,000 to create a reserve for rollover risk associated with the fitness center. This holdback reserve will be released to the borrower upon the tenant renewing its lease or used to re-tenant the space. Terms: (1) Rate: T + 1.85%; (2) Term/Amort: 10/30; (3) LTV: 75%; (4) DCR: 1.35; (5) Non-recourse; (6) Lender Fee: Par. (Andrew Levant)

$3,950,000 Permanent Financing (Fixed Rate, 10 years Interest Only!) for Portfolio of 4 Single-Tenant Industrial Buildings: This portfolio is located in the hot industrial submarket of a major Sunbelt city. Portfolio Specs: Property #1 is owned by borrower already (refinance): 49,000 s.f., tenant rated AA-, lease expires in 2004. Borrower is purchasing the remaining 3 properties which are located on 2 contiguous parcels 3 blocks away from Property #1. The remaining 3 properties are 21,700 s.f. (lease exp. 2008), 14,000 s.f. (lease exp. 2005), 11,600 s.f. (lease exp. 2004). All properties are 1990’s vintage, concrete tilt-up, warehouse distribution centers. Transaction Highlights: No reserves of any kind (CapEx, TI/LC, tax, insurance all waived). Terms: (1) Rate: T + 1.10%; (2) Term/Amort: 10 years/Interest only; (3) LTV: 52%; (4) DCR: 1.45; (5) Lender Fee: Par; (6) Non-recourse; (7) Yield Maintenance on CMBS loan. (Gary E. Mozer, Edwin C. Parker, Mark Wintner)

$1,050,000 Refinance at 4.00% for 10-unit Burbank Apartment Building: GSP arranged this aggressively priced loan featuring cash-out for the owner. The first 3 years of the 30-year term are fixed at 4.00%, after which the loan converts to floating rate. The Property: Wood and stucco construction with open subterranean parking; minor termite damage and deferred maintenance; loosely operated property with limited operating records. Terms: (1) Rate: 4.00%, locked at application at no cost; (2) Term/Amort: 30/30; (3) LTV: 75.00%; (4) Prepayment: no prepayment penalty after 2 years, or upon sale or refinance with same lender; 20% annual prepayment permitted; (5) Recourse; (6) Lender Fee: Par. (Lee T. Norman, Larry Wilemon, Steven Orchard)

$350,000 2nd Mortgage (6.875%) on Bergamot Station: Property is a 52,000 s.f. special purpose art-gallery complex located at a historic Red Line station in Santa Monica. There are 12 tenants and a large waiting list. The senior lender provided the 2nd. Terms: (1) Rate: 6.875%; (2) Term/Amort: 4/30 (co-terminus with existing senior debt); (3) No 3rd party reports required; (4) LTV: 75% combined; (5) DCR: 1.25; (6) Lender Fee: 1.0%. (George Smith, David Stepanchak)

9th ANNUAL
GSP REAL ESTATE LUNCHEON
To Benefit the A-T Medical Research Foundation
Thursday, October 23, 2003
Century Plaza Hotel (Century City)

“PREMIER” TABLES PURCHASED LAST WEEK!
PLATINUM	Western Financial Bank
GOLD	Fremont Investment & Loan
SILVER	JARCO Commercial Real Estate, Inc.; Marcus & Millichap; Mindlin Companies; Troxler Group