CASE STUDIES

Electric Lightwave Building

Loan Amount: $13,000,000 Closed: 1st Quarter 2007 Location: 4400 NE 77th Avenue Vancouver, Washington
	Client: Unico Properties, LLC
	Property: A 3- story steel-frame office building containing approximately 91,200 square feet of rentable area
	Assignment: Arrange fixed rate post-acquisition permanent financing at highest possible leverage
	Challenges: Property 82% leased but only 41% occupied at close Rent abatement for largest tenant (40%) for six months after loan closing Major tenant (23%) with right to terminate lease four months after loan closing
	Results: $13,000,000 (90% LTC – 80% LTV) Term: 10 years Amortization: 5 years interest only; 30 year amortization thereafter Prepayment: Defeasance Liability: Non-recourse