60 DAY APPROVALS

Loan/Property overview:

• Anchored retail center in Los Angeles, CA
• $25MM Loan originated in 2007
• Primary Servicer = Berkadia
• Master Servicer = Wells Fargo
• Special Servicer = CW Capital
• Rating Agency review required due to size of loan

Transaction:

• Purchase and Sale Agreement signed March 3, 2014
• Buyer and seller submitted all documents to 1^st Service by March 7^th
• Buyer was a FUND and was requesting to replace the current warm body carve-out guarantor with an entity (which was eventually approved)
• Due to the fund structure of the buyer,  modifications to the loan documents were required as part of this transaction
• Complete package was submitted to Berkadia on March 14^th along with requested modifications to loan documents
• Review and approval process was Berkadia – Wells Fargo – CW Capital
• All approvals received by May 16^th (approximately 60 days)
• Transaction closed on June 13, 2014