Banc of America Merrill Lynch Commercial Mortgage
Filed: 16 Jun 05, 12:00am
ANNEX A CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS <TABLE> LOAN SEQUENCE NUMBER LOAN SELLER PROPERTY NAME -------- ------ ----------- ------------- 4 58848 Bank of America Regents Square I & II 11 58847 Bank of America Mission City Corporate Center 13.1 58449 Bank of America Captain's Portfolio - Southwest Freeway 13.2 58449 Bank of America Captain's Portfolio - Waller Creek 13.3 58449 Bank of America Captain's Portfolio - Briar Hollow 13.4 58449 Bank of America Captain's Portfolio - North Loop 13.5 58449 Bank of America Captain's Portfolio - Westheimer Oaks Village Shopping Center 13.6 58449 Bank of America Captain's Portfolio - Post Oak Place 13 58449 Bank of America CAPTAIN'S PORTFOLIO (ROLL UP) 20 13022 Bridger Keelers Corner 67 58738 Bank of America University Glen Apartments 74 12551 Bridger Cedar East & Cypress Office 84 9668 Bridger Silver Star Self Storage </TABLE> (i) Administrative Fee Rate includes the Sub-Servicing Fee Rate. (ii) For Mortgage Loans which accrue interest on the basis of actual days elapsed each calendar month and a 360-day yr. or a 365-day yr., the amortization term is the term over which the Mortgage Loans would amortize if interest accrued and was paid on the basis of a 360-day yr. consisting of twelve 30-day months. The actual amortization would be longer. <TABLE> ZIP SEQUENCE PROPERTY ADDRESS COUNTY CITY STATE CODE -------- ---------------- ------ ---- ----- ---- 4 4250 & 4275 Executive Square San Diego La Jolla CA 92037 11 2355, 2365 & 2375 Northside Drive San Diego San Diego CA 92108 13.1 12603 Southwest Freeway Fort Bend Stafford TX 77477 13.2 507 Sabine Street Travis Austin TX 78701 13.3 50 Briar Hollow Lane Harris Houston TX 77027 13.4 1900 North Loop West Harris Houston TX 77018 13.5 4304-4380 Westheimer Road and 2400 Midlane Street Harris Houston TX 77027 13.6 4543 Post Oak Place Drive Harris Houston TX 77027 13 Various Various Various TX Various 20 4525-164th Street Southwest Snohomish Lynnwood WA 98037 67 3504 - 73rd Avenue West Pierce University Place WA 98466 74 3117 and 3101 Poplarwood Court Wake Raleigh NC 27604 84 3043 North Pecos Road Clark Las Vegas NV 89115 </TABLE> <TABLE> CUT-OFF PROPERTY ORIGINAL DATE MATURITY DATE SEQUENCE TYPE PROPERTY SUBTYPE BALANCE BALANCE BALANCE -------- ---- ---------------- ------- ------- ------- 4 Office Suburban 88,600,000 88,600,000 88,600,000 11 Office Suburban 44,000,000 44,000,000 44,000,000 13.1 Office Suburban 9,136,364 9,136,364 8,500,889 13.2 Office CBD 7,831,169 7,831,169 7,286,477 13.3 Office Suburban 7,831,169 7,831,169 7,286,477 13.4 Office Suburban 4,350,649 4,350,649 4,048,043 13.5 Retail Unanchored 2,610,390 2,610,390 2,428,826 13.6 Office Suburban 1,740,260 1,740,260 1,619,217 -------------------------------- -------------- 13 Office Various 33,500,000 33,500,000 31,169,927 20 Multifamily Garden Style 27,900,000 27,900,000 27,900,000 67 Multifamily Garden Style 4,700,000 4,689,992 4,194,945 74 Office Suburban 3,900,000 3,900,000 3,634,020 84 Self Storage Self Storage 2,100,000 2,090,938 1,788,296 </TABLE> <TABLE> SUB- NET FIRST INTEREST LOAN MORTGAGE ADMINISTRATIVE SERVICING MORTGAGE NOTE PAYMENT ACCRUAL SEQUENCE TYPE RATE FEE RATE (I) FEE RATE RATE DATE DATE METHOD -------- ---- ---- ------------ -------- ---- ---- ---- ------ 4 Interest Only 4.615% 0.042% 0.030% 4.573% 3/15/2005 7/1/2005 ACT/360 11 Interest Only 4.663% 0.042% 0.030% 4.622% 3/15/2005 7/1/2005 ACT/360 13.1 13.2 13.3 13.4 13.5 13.6 13 IO, Balloon 5.177% 0.062% 0.050% 5.116% 9/17/2004 7/1/2005 ACT/360 20 Interest Only 5.311% 0.062% 0.050% 5.249% 2/9/2005 4/1/2005 ACT/360 67 Balloon 5.303% 0.112% 0.100% 5.191% 3/29/2005 5/1/2005 ACT/360 74 IO, Balloon 5.577% 0.062% 0.050% 5.515% 2/17/2005 4/1/2005 ACT/360 84 Balloon 5.595% 0.092% 0.080% 5.503% 2/9/2005 4/1/2005 ACT/360 </TABLE> <TABLE> ORIGINAL ORIGINAL TERM TO AMORTIZATION INTEREST REMAINING MONTHLY MATURITY TERM ONLY SEASONING TERM TO MATURITY MATURITY CROSS-COLLATERALIZED SEQUENCE PAYMENT (MONTHS) (MONTHS) (II) PERIOD (MONTHS) (MONTHS) DATE LOANS -------- ------- -------- ------------- ------ -------- -------- ---- ----- 4 345,438 82 82 82 4/1/2012 11 173,363 82 82 82 4/1/2012 13.1 13.2 13.3 13.4 13.5 13.6 13 181,133 76 360 16 76 10/1/2011 20 125,196 84 84 3 81 3/1/2012 67 26,108 84 360 2 82 4/1/2012 74 22,333 84 360 24 3 81 3/1/2012 84 13,015 84 300 3 81 3/1/2012 </TABLE> <TABLE> RELATED APPRAISAL SEQUENCE LOANS PREPAYMENT PENALTY DESCRIPTION (PAYMENTS) YIELD MAINTENANCE TYPE VALUE -------- ----- ----------------------------------------- ---------------------- ----- 4 BACM 05-2-B LO(76)/OPEN(6)/DEFEASANCE 130,000,000 11 BACM 05-2-B LO(76)/OPEN(6)/DEFEASANCE 65,000,000 13.1 12,900,000 13.2 8,600,000 13.3 16,300,000 13.4 7,400,000 13.5 4,650,000 13.6 5,250,000 ---------------- 13 LO(72)/OPEN(4)/DEFEASANCE 55,100,000 20 LO(79)/OPEN(5)/DEFEASANCE 40,500,000 67 LO(81)/OPEN(3)/DEFEASANCE 5,900,000 74 LO(80)/OPEN(4)/DEFEASANCE 6,675,000 84 LO(35)/GRTR1%PPMTorYM(45)/OPEN(4) NPV (BEY) 3,050,000 </TABLE> <TABLE> TOTAL UNITS/ UNITS/ SF/ SF/ APPRAISAL CUT-OFF DATE LTV YEAR BUILT/ PADS/ PADS/ SEQUENCE DATE RATIO BALLOON LTV RATIO RENOVATED ROOMS ROOMS -------- ---- ----- ----------------- --------- ----- ----- 4 2/17/2005 68.2% 68.2% 1984 307,450 SF 11 2/17/2005 67.7% 67.7% 1988 181,429 SF 13.1 9/1/2004 1982 142,942 SF 13.2 9/1/2004 1984/2003 105,021 SF 13.3 9/1/2004 1978 193,615 SF 13.4 9/1/2004 1980 120,972 SF 13.5 9/1/2004 1940/1977 35,395 SF 13.6 9/1/2004 1974 74,529 SF 13 9/1/2004 60.8% 56.6% 672,474 SF 20 1/11/2005 68.9% 68.9% 1992 414 Units 67 1/19/2005 79.5% 71.1% 1985 90 Units 74 12/20/2004 58.4% 54.4% 1980/2002 79,161 SF 84 12/27/2004 68.6% 58.6% 1984 595 Units </TABLE> <TABLE> LOAN BALANCE PER UNIT/SF/ OCCUPANCY NET RENTABLE PAD/ OCCUPANCY AS OF U/W U/W SEQUENCE AREA (SF) ROOM PERCENT DATE REVENUES EXPENSES -------- --------- ---- ------- ---- -------- -------- 4 307,450 288 87.1% 3/1/2005 11,195,299 4,143,048 11 181,429 243 89.0% 3/1/2005 5,991,476 2,200,314 13.1 142,942 64 89.8% 4/21/2005 13.2 105,021 75 93.9% 4/21/2005 13.3 193,615 40 72.5% 4/21/2005 13.4 120,972 36 82.8% 4/21/2005 13.5 35,395 74 92.6% 4/21/2005 13.6 74,529 23 79.5% 4/21/2005 13 672,474 50 82.9% 4/21/2005 9,227,584 4,854,351 20 405,635 67,391 95.9% 3/23/2005 4,216,619 1,846,673 67 67,608 52,111 94.4% 3/20/2005 682,680 278,900 74 79,161 49 78.6% 3/31/2005 1,001,097 461,516 84 66,960 3,514 76.0% 1/7/2005 401,196 181,419 </TABLE> <TABLE> U/W REPLACEMENT U/W RESERVES MOST MOST MOST U/W U/W REPLACEMENT PER UNIT/ RECENT RECENT RECENT SEQUENCE CASH FLOW DSCR RESERVES SF/ PAD/ROOM STATEMENT TYPE END DATE NOI -------- --------- ----- -------- ------------ -------------- -------- --- 4 6,700,027 1.62 46,118 0.15 Full Year 12/31/2004 4,709,066 11 3,553,834 1.71 36,286 0.20 Full Year 12/31/2004 4,115,352 13.1 13.2 13.3 13.4 13.5 13.6 13 3,439,731 1.58 134,495 0.20 Annualized Most Recent 3/31/2005 4,681,285 20 2,248,644 1.50 121,302 293.00 Annualized Most Recent 3/31/2005 2,530,030 67 376,300 1.20 27,480 305.33 Annualized Most Recent 2/20/2005 330,802 74 419,188 1.56 18,999 0.24 Actual 12/31/2004 407,874 84 206,384 1.32 13,393 22.51 Actual 12/31/2004 266,887 </TABLE> <TABLE> LARGEST LARGEST TENANT LARGEST FULL FULL TENANT % OF TENANT YEAR YEAR LEASED TOTAL LEASE SEQUENCE END DATE NOI LARGEST TENANT SF SF EXPIRATION -------- -------- --- -------------- -- -- ---------- 4 12/31/2003 3,119,039 MIRO 17,525 6% 6/30/2009 11 12/31/2003 3,451,442 Pacific Bell 32,267 18% 6/30/2007 13.1 Rosemount 27,306 19% 6/30/2009 13.2 Texas Dept. Housing Comm. Affairs 74,261 71% 12/31/2005 13.3 Martha Turner 17,886 9% 2/28/2009 13.4 Empowerment School 26,135 22% 9/30/2006 13.5 Matt - Troy, Inc. 4,426 13% 12/31/2007 13.6 Home N Mortgage 15,096 20% 3/31/2008 13 12/31/2004 3,786,576 20 12/31/2004 2,131,447 67 12/20/2004 387,467 74 12/31/2003 698,454 Alsco Metal Corporations 11,683 15% 2/28/2008 84 12/31/2003 236,538 </TABLE> <TABLE> SECOND SECOND LARGEST SECOND LARGEST TENANT LARGEST TENANT % OF TENANT LEASED TOTAL LEASE SEQUENCE SECOND LARGEST TENANT SF SF EXPIRATION -------- --------------------- -- -- ---------- 4 Mass Mutual 16,398 5% 10/31/2011 11 Sentra Securities, Inc. 31,954 18% 10/31/2007 13.1 Seismic Ventures 8,541 6% 5/31/2008 13.2 Crown Plaza Hotel 20,445 19% 12/31/2094 13.3 Regency Publishing Group 12,488 6% 12/31/2010 13.4 Suite 500 Management 7,992 7% 1/31/2010 13.5 Cucina L.P. 3,650 10% 10/14/2005 13.6 Houston Area League 11,934 16% 12/31/2017 13 20 67 74 United States of America (Army Recruiters) 9,349 12% 4/30/2014 84 </TABLE> <TABLE> THIRD THIRD LARGEST THIRD LARGEST TENANT LARGEST TENANT % OF TENANT LEASED TOTAL LEASE SEQUENCE THIRD LARGEST TENANT SF SF EXPIRATION -------- -------------------- -- -- ---------- 4 RBC Dain Racsher 13,487 4% 2/29/2008 11 Cypress Point Ins. 24,643 14% 8/31/2011 13.1 G.A.S. Unlimited Inc. 7,357 5% 3/31/2006 13.2 Omnilife USA, Inc. 5,120 5% 12/31/2009 13.3 Rockport Group of Texas 12,219 6% 6/30/2005 13.4 Whataburger 7,930 7% 12/31/2008 13.5 Triumph Imports DBA Renezvous Parisien 3,047 9% 4/30/2013 13.6 Champions School of Real Estate 6,552 9% 6/30/2010 13 20 67 74 The Travelers Indemnity 6,006 8% 10/31/2009 84 </TABLE> ANNEX B MULTIFAMILY SCHEDULE <TABLE> LOAN SEQUENCE NUMBER LOAN SELLER PROPERTY NAME CUT-OFF BALANCE UTILITIES TENANT PAYS - ------------------------------------------------------------------------------------------------------------------------------------ 2 58921 Bank of America NYU Housing - 80 Lafayette Street $110,000,000 17 58797 Bank of America The Grand Rivage at Brandon Lakes 28,875,000 Electric, Water, Sewer 20 13022 Bridger Keelers Corner 27,900,000 Electric, Water, Sewer 26 58856 Bank of America Villa Del Mar 17,150,000 Electric, Water, Sewer 30 58855 Bank of America Vail Club Apartments 15,700,000 Electric, Water, Sewer 41 12547 Bridger Logan Square Apartments 10,099,672 Electric, Water, Sewer 53 58835 Bank of America The Du Barry Apartments 6,752,000 61 58842 Bank of America Havenhurst Apartments 4,936,278 65 58839 Bank of America Barclay Apartments 4,708,200 67 58738 Bank of America University Glen Apartments 4,689,992 Electric, Gas 68 58832 Bank of America Sir Francis Drake Apartments 4,599,246 - ------------------------------------------------------------------------------------------------------------------------------------ TOTAL MULTIFAMILY LOANS $235,410,388 </TABLE> <TABLE> STUDIO 1 BEDROOM 2 BEDROOM 3 BEDROOM 4 BEDROOM AND LARGER ---------------------------------------------------------------------------------------------------- # OF AVG # OF AVG # OF AVG # OF AVG # OF AVG SEQUENCE UNITS RENT UNITS RENT UNITS RENT UNITS RENT UNITS RENT ELEVATORS - ----------------------------------------------------------------------------------------------------------------------------- 2 24 186 39 7 8 Yes 17 114 $749 168 $895 96 $1,038 12 $1,194 No 20 95 709 287 910 32 1,105 No 26 352 658 56 844 No 30 12 $513 216 698 103 943 No 41 68 500 64 699 102 876 No 53 66 736 15 963 Yes 61 32 802 15 1,040 7 1,387 Yes 65 59 711 15 874 2 1,248 Yes 67 42 589 48 692 No 68 48 704 12 924 1 1,547 Yes - ----------------------------------------------------------------------------------------------------------------------------- </TABLE> ANNEX B CAPITAL IMPROVEMENT, REPLACEMENT RESERVE AND ESCROW ACCOUNTS* <TABLE> INITIAL DEPOSIT TO CAPITAL SEQUENCE LOAN NUMBER PROPERTY NAME PROPERTY TYPE IMPROVEMENT RESERVES - ------------------------------------------------------------------------------------------------------------------------------------ 1 58620 Fashion Show Mall Retail 2 58921 NYU Housing - 80 Lafayette Street Multifamily 3 58611 Canyon Ranch Hotel 4 58848 Regents Square I & II Office 5 58470 Phoenix Plaza I & II Office $86,701 6 58908 589 Fifth Avenue Office 7 58623 American Express Building - Minneapolis Office 8 58789 Clark Office Building Office 9 58868 Asian Garden Mall Retail 183,531 10 58665 TV Guide Hollywood Center Office Building Office 11 58847 Mission City Corporate Center Office 12 58886 Mountain Farms Shopping Center Retail 69,373 13 58449 Captain's Portfolio Office 182,513 14 58711 OSI Systems Office 15 58857 Atria East Office 31,238 16 58626 American Express Building- Salt Lake Office 17 58797 The Grand Rivage at Brandon Lakes Multifamily 18 58852 Edward's Multiplex-Fresno Other 19 58846 Cuyahoga Falls Market Center Retail 20 13022 Keelers Corner Multifamily 15,525 21 58625 American Express Building- Ontario Office 22 58830 Crossroads at Sunset Retail 23 57938 Buena Park Corporate Plaza Office 24 58812 Atkins Kent MOB Office 25 58736 22 East 71st Street Office 33,125 26 58856 Villa Del Mar Multifamily 27 58861 Bank of America West Building Office 39,525 28 58826 Capistrano II Office Building Office 29 58661 The Great Wall Mall Retail 11,125 30 58855 Vail Club Apartments Multifamily 31 58934 Trop Decatur Plaza Retail 32 58824 Bridgecreek Office Building Office 33 12974 Coronado Shopping Center- Santa Fe Retail 588,380 34 58723 CSM - Denver Properties Hotel 35 58831 Ocean Dorado Retail 36 58696 CSM - Hilton Garden Inn - Scottsdale Hotel 37 58792 Germantown (Triumph) Office 38 58870 Ths Shops at Cascade & Fairburn Retail 39 58802 The Hesser Center Office 40 58941 Gateway Tower Office 221,000 41 12547 Logan Square Apartments Multifamily 42 58761 Rancho San Diego Industrial Center Industrial 43 58809 Lambert Palm Business Center Industrial 44 58920 Tanglewood Commons Retail 45 58725 Smart Self Storage Self Storage 46 58727 Sorrento Mesa Self Storage 47 12868 Gateway Shopping Center - Arlington Retail 3,750 48 58806 Eastridge Office Center Office 49 58705 ASAP Self Storage Self Storage 50 58911 Seligman CVS Pool #1 Retail 51 12681 Fairfield Inn & Suites Laredo Hotel 52 58873 110 and 120 Belmont Drive Office 53 58835 The Du Barry Apartments Multifamily 54 58939 Simi Valley I & II Retail 55 13106 Azar Industrial Industrial 56 12034 Olde Sarasota Self Storage Self Storage 57 58782 Walgreens - Garden City, MI Retail 58 58748 Best Florida Storage II Self Storage 59 9753 Thrashers Village Retail 60 11355 Metro 502 Self Storage Self Storage 61 58842 Havenhurst Apartments Multifamily 62 58430 Shurgard - Woodland Hills Self Storage 63 58433 Shurgard - Palms Self Storage 64 11969 Shurgard Storage - Shoreline Self Storage 65 58839 Barclay Apartments Multifamily 66 13159 Village Plaza- Palmdale Refinance Retail 7,313 67 58738 University Glen Apartments Multifamily 68 58832 Sir Francis Drake Apartments Multifamily 69 58759 105 Satellite Boulevard Industrial 70 58914 Makena Great American Plaza Retail 71 58726 Sorrento Valley Self Storage Self Storage 72 58589 Capital Plaza Retail Center Retail 73 58721 CVS - North Andover Retail 74 12551 Cedar East & Cypress Office Office 75 58682 Vacaville Town Center Retail 3,125 76 12458 All Safe Storage Self Storage 2,500 77 58750 Walgreens - Monroe, MI Retail 78 10552 Packwood Shopping Center Retail 79 58658 Best Buy - Gwinnett County Retail 80 12165 Commons San Angelo Retail 4,125 81 58744 World Wide Parts Building Industrial 82 11324 1st Security Storage Christiansburg Self Storage 83 12090 West Allis Tech Center Industrial 84 9668 Silver Star Self Storage Self Storage 85 12909 Security Plus Self Storage & RV Self Storage 1,406 86 11847 U.S. Storage Centers Self Storage - ------------------------------------------------------------------------------------------------------------------------------------ TOTALS $1,484,254 </TABLE> *Certain monthly reserves may be subject to caps. <TABLE> INITIAL DEPOSIT TO REPLACEMENT ANNUAL DEPOSIT TO TAX AND INITIAL DEPOSIT ANNUAL DEPOSIT SEQUENCE RESERVES REPLACEMENT RESERVES INSURANCE ESCROW TO TI/LC ESCROW TO TI/LC ESCROW - ------------------------------------------------------------------------------------------------------------------------------------ 1 No 2 $108,768 Tax Only 3 No 4 Tax Only $2,032,819 $153,725 5 111,420 No 6 49,560 Tax Only 2,976,000 7 No 8 Tax Only 700,000 9 27,062 Yes 10 18,297 Yes 150,000 11 Tax Only 851,831 95,371 12 Tax Only 13 96,504 Yes 978,744 651,072 14 No 15 31,088 Yes 16 No 17 85,020 Tax Only 18 No 19 No 20 Yes 21 No 22 Tax Only 23 40,544 Yes 300,000 116,250 24 Yes 25 7,128 Tax Only 185,004 26 93,840 Tax Only 27 20,564 Yes 28 Tax Only 29 $30,000 Yes 30 61,235 Tax Only 31 6,842 Yes 24,000 32 Tax Only 33 Yes 34 Yes 35 Tax Only 36 Yes 37 5,620 Tax Only 38 6,003 Yes 39 70,104 Yes 238,000 54,000 40 63,293 Yes 41 239,000 63,648 Yes 42 8,772 Tax Only 163,044 43 No 44 10,098 Tax Only 45 No 46 No 47 Yes 48 21,419 Yes 49 25,000 Yes 50 No 51 119,106 Yes 52 16,842 Yes 53 20,250 Tax Only 54 Yes 55 Yes 56 24,000 11,905 Yes 57 No 58 3,684 Yes 59 1,749 Yes 15,475 60 9,992 Yes 61 14,873 Tax Only 62 Tax Only 63 Tax Only 64 Yes 65 19,000 Tax Only 66 12,360 Yes 18,720 67 29,976 Yes 68 19,850 Tax Only 69 17,280 Yes 32,400 70 1,351 Tax Only 71 No 72 No 73 Insurance Only 74 100,000 27,706 Yes 113,345 75 No 76 10,314 Yes 77 No 78 2,304 Yes 6,804 79 No 80 22,000 9,061 Yes 15,000 32,774 81 4,044 Tax Only 82 10,824 Yes 83 3,045 No 17,713 84 13,392 Yes 85 2,995 Yes 86 5,575 Yes - ------------------------------------------------------------------------------------------------------------------------------------ $440,000 $1,394,306 $8,092,394 $1,829,697 </TABLE>