6/20/2008

Multi-Family Loan Programs > $3 Million

Agency Lenders Portfolio Lenders*
Term Leverage Max. Interest Rates Leverage Max. Interest Rates
5 Yr. 80% 6.16% to 6.31% 75% 6.05% to 6.28%
7 Yr. 80% 6.14% to 6.29% 75% 6.40% to 6.65%
10 Yr. 80% 6.25% to 6.46% 75% 6.55% to 6.85%
15 Yr. 80% 6.67% to 7.27% 75% 6.85% to 7.35%
*Rates based on Act/360
Multi-Family Loan Programs < $3 Million
Fixed Rate Agency Lenders Portfolio Lenders*
Term Leverage Max. Interest Rates Leverage Max. Interest Rates
3 Yr. 80% 6.12% to 6.56% 75% 5.90% to 6.25%
5 Yr. 80% 6.08% to 6.46% 75% 6.05% to 6.35%
7 Yr. 80% 6.07% to 6.37% 75% 6.40% to 6.65%
10 Yr. 80% 6.18% to 6.48% 75% 6.55% to 6.85%
15 Yr. 80% 6.74% to 7.65% 75%0 6.85% to 7.35%
*Rates based on Act/360
Commercial Loan Programs
Fixed Rate Portfolio Lenders* Index Rate as of 6/6/20
5- Year Treasury: 3.59%
Term Leverage Max. Interest Rates
10-Year Treasury: 4.17%
5 Yr. 75% 6.25% to 6.55%
5-Year Swap: 4.49%
7 Yr. 75% 6.45% to 6.65%
10-Year Swap: 4.87%
10 Yr. 75% 6.65% to 6.90%
Prime: 5.00%
15 Yr. 75% 6.95% to 7.45%
Libor: 3.18%
Bridge Floating Leverage Max. Spread Over Libor
Stabilized 75% 225 to 300
Re-Position 90% 275 to 350
(*Portfolio Lenders include Banks, Life Insurance Companies and Credit Unions)
Economic Commentary

Rates offered a slight reprieve from the

increases realized over the last three-weeks.
10-year Treasuries closed the week at 4.16
percent and 10-year Swaps at 4.85 percent,
both a .10 percent reduction from a week ago.
However, while agency lenders tracked these
indexes with similar reductions, portfolio
lenders held firm at the rate increases
instituted recently. Concerns over the record
levels of oil prices continue to be the overriding
issue in trying to project the length and breadth
of the current economic slump.

Recent Transactions
11045 La Maida Auto Zone Logan's Roadhouse 8 San Marcos Lane
Multi-Family STNL STNL Retail Center
North Hollywood, CA Corpus Christi, TX Columbus, OH Chandler, AZ
$2,912,000 $2,100,000 $2,250,000 $2,530,000
Adjustable Interest Rate 6.03% Interest Rate 6.7% Interest Rate 7- 6.05% Interest Rate
36-mos. Term/Purchase 10-yr. Term/30-yr. Amort. mos. Term/30-yr. Amortiz. 10-yr. Term/30-yr. Amort.

For more information, contact:

William E. Hughes
Senior Vice President/ Managing Director
Newport Beach, CA
Office: (949) 851-3030
whughes@marcusmillichap.com

Terms, rates and conditions subject to change. www.MMCapCorp.com