CASE STUDIES

Lynnwood Corporate Center

Loan Amount: $7,800,000 Closed: 3rd Quarter 2005 Location: 19401 40th Avenue West Lynnwood, Washington.
	Client: Peter Sullivan Associates, Inc., San Francisco, CA
	Property: A four story, 73,412 NRSF, class A office building located on 2.92 acres in Lynnwood, Washington.
	Assignment: Arrange 10 year, fixed rate financing to acquire the Subject Property.
	Challenges: Suburban office market with 20%+ vacancy Property's occupancy at 79%
	Results: $7,800,000 Rate: 10 year Treasury plus 95 bps, Interest Only during the first 5 years, 30 years amortization thereafter. Fees: Par Reserves: Annual TI/LC reserve of $60,000, capped at $180,000. Secondary Financing: Allows a mezzanine loan up to 75% LTV. Liability: Non-recourse