Renovation work





8027-8069 W. Oakland Park Blvd

Sunrise, FL 33351



Northwest Corner of University Drive and West Oakland Park Boulevard.



Parcel Number:                                          49-41-21-03-0141

                                                                        Broward County Appraiser Page


Land Area:                                                    3.469 AC (151,123 SF +/-)


Dimensions:                                                Actual frontages of 270 feet along the west side of University Drive and 260 feet of frontage along the West Oakland Park Boulevard, with an average depth of approximately 430 feet.


Number of Buildings:                               1


Number of Stories:                                    1


Gross Leasable Area:                                46,760 SF


Year Built:                                                    1978

Flood Zone:                                                 Federal Emergency Management Agency (FEMA)

                                                                        Zone AH

                                                                        Community Map Panel 12011C0205F, dated August 18, 1992

                                                                        FEMA Home Page


Parking Spaces:                                         182


Parking Ratio:                                             3.89 per 1,000 SF GLA


Improvement Analysis

Foundation:             Continuous monolithic slab poured on reinforced concrete footings

Construction:          Fireproof steel frame with steel beams and steel deck

Floor Structure:      Concrete slab on compacted fill

Exterior Walls:         8” concrete block with stucco painted finish. Retail storefronts are plate glass set in anodized aluminum frames.

Roof Cover:             Built-up roofing system with a modified bitumen cap sheet system along the front façade and covered walkway.

                                                A new roof was installed in November 1995.


ADA Compliance:                                      Yes


Current Zoning:                                          B-2, Business District


Uses Permitted:                                          Multifamily residences, retail, professional & medical offices, banks, restaurants, hotels/motels, retail uses, etc.



Loan Information:

            Lender:                                             Morgan Guaranty Trust Company of New York

Servicer:                                           GEMSA Loan Services, L.P. (a joint venture of GE Capital Real Estate and L.J. Melody & Co., a CB Richard Ellis Company

            Asset Manager:                             

            Address:                                           1500 City West Blvd, Suite 200

                                                                        Houston, TX 77042

            Phone:                                              800-456-1443 x 3001


            Loan Number:                                 50-8836302


            Term/Month:                                    10/120

            Amortization\Month:                     30/360

Loan Closing Date:                       November 13, 2000

First Pay Date:                                January 1, 2001

            Loan Amount:                                 $3,130,000

            Note Rate (fixed):                           8.16%

            Monthly P&I Payment:                  $23,316.90

            Maturity Date:                                  December 1, 2010

            Lock-Out Period:                            0 Months before maturity date

            Current Principle Balance

                                    As of 6/1/03:             $3,071,932.79


Title Policy Insurance Company:          First American Title Insurance Company



Renovation Work:                                      To be completed within 12 months.



Springtree, LLC, a Florida Limited Liability Company


Property Manager
CBA Property Management, Inc.

10933 Wellworth Avenue

Suite 6

Los Angeles, CA 90024


Onsite Manager
Chris Sullivan

            Cell Phone: 954-593-7059

            Email: chris@cbafinancial.com


Leasing Contact - Florida
Conrad Baker

Office: 800-CBA-MGMT

Email: conradbaker@cbafinancial.com
Chris Sullivan

             Cell Phone: 954-593-7059

            Email: chris@cbafinancial.com