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2013 Lee Najjar Portfolio Analysis

Performed By: Thomas Bulls & Mauri Robinson

February 28, 2014

2

Currently Proposed

Principal Balance $58,545,506.99 $41,666,809.77

Annual Debt Service

$3,687,312.00 $2,699,953.00

NOI $4,331,094.10 $3,512,437.80

DSCR 1.17% 1.301%

LTV 1.08% .95%

Executive Summary – Portfolio Performance

3

Executive Summary – Strategic Recommendations

Sell Andrews Square Property $20 Million in Net Proceeds

Benefit

• 4 Properties Paid Off• 9 Properties with Principal Pay

Downs• Approximately $2.9 Million Portfolio

Cash Balance

4

Payoff Totals

Paydown Totals

Value @ 8 Cap

$ 12,108,425.77

$ 4,770,271.45

$ 43,905,472.50

Executive Summary – New Portfolio Structure

Discussion

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