Comparative Income Statement - Summary Corrigan Station LLC

Transcription

1 Entities Include: ('93') Comparative Income Statement - Summary 1 11:42 AM CWB_CMPINC2 IS_MC_SUMV3 Format IS_MC_SUMV Current Period Year-To-Date Dec 217 Variance Dec 217 Variance Prior Year Annual Revised Original Budget Budget Prior Year INCOME Minimum Rent 137,15 28,8 1,18,684 43,435 1,137,249 1,352,493 Specialty Leasing 2,521 (3,829) 2,658 (11,994) 32,652 46,894 Direct Tenant 31,432 29,832 88,161 48,761 7,25 39,4 7,25 Miscellaneous 5,987 (1,938) 296,243 (8,324) 84 34,567 53,11 84 Parking 27,445 8, ,181 12, ,95 17,875 5 TOTAL INCOME 24,535 6,759 1,776,926 84,154 7,114 1,692,772 2,73,363 7,114 EXPENSE Specialty Leasing 32 1,682 7,881 (2,186) 5,695 1,31 CAM / Operating Costs 15,48 (7,887) 525,25 (7,396) 29, , ,654 29,889 Real Estate Taxes 9, , ,31 111,31 17, ,31 Direct Tenant 17,99 (16,39) 88,85 (42,867) 45,938 Parking 17,799 (5,262) 78, ,745 79, ,64 1,745 General & Administrative 2,9 (15,654) 79,316 (18,926) 15,658 6,39 47,989 15,658 Management Fees 5,144 1, 47, ,368 58, TOTAL EXPENSE 175,786 (15,27) 938,847 (132,678) 158,988 86, , ,988 NET OPERATING INCOME 28,749 (44,51) 838,79 (48,524) (151,874) 886,63 1,331,23 (151,874) Interest Expense, Net (263,546) (31,946) (1,277,598) (33,66) (24,374) (1,243,992) (1,162,851) (24,374) Depreciation & Amortization (2,447,467) (4,648,657) (5,165,8) (4,626,723) (3,417) (538,285) (5,348,86) (3,417) NET INCOME (2,682,264) (4,725,114) (5,64,527) (4,78,852) (179,665) (895,675) (5,179,913) (179,665) 217 Reforecast

2 Comparative Balance Sheet 1 CWB_BALST BS_MC_SUMV3 Dec 217 Dec 216 ASSETS Property & Equipment, at cost Land 3,15,86 3,15,86 Land Improvement Building 29,46,824 6,, Furniture, fixtures & equipment (Less: Accumulated Depreciation) (5,78,316) 27,533,369 9,15,86 Work in Process 1,291,475 24,794,124 Land Held for Development Land Held for Sale Development Studies Cash & Cash Equivalents Unrestricted 132,27 (77,292) Restricted 1,58,29 1,34,777 1,64, ,484 Restricted Escrows Receivables Accounts Receivable, trade 49,171 7,19 less Allowance for Losses 49,171 7,19 Other Receivables 23,35 (1,) 72,27 (92,891) Investments Mortgage / Notes Receivable 367,18 Advances to/from Affiliates (9,458) (4,599) Loan Costs, Lease Commissions & Other Intangibles 1,19, ,668 (Less: Accumulated Amortization) (9,11) (3,417) 1,1, ,251 Other Assets 324,356 18,596 TOTAL ASSETS 41,319,777 34,877,825

3 Comparative Balance Sheet 2 CWB_BALST BS_MC_SUMV3 Dec 217 Dec 216 LIABILITIES Notes Payable First Mortgage Payable Second Mortgage Payable Other Notes Payable Capital Lease Obligation Accounts Payable, Trade 834,11 1,342,346 Accrued Interest Payable 123, Accrued Real Estate Taxes Accrued Expenses 57,798 79,326 Deferred Liabilities 2,453,527 36,45 Tenant / Customer Deposits 126,642 96,781 Other Liabilities TOTAL LIABILITIES 3,595,68 2,265,857 EQUITY Equity, Beginning of Year 1,744,239 7,494,43 Current Year Earnings (5,64,527) (179,665) Current Year Distributions Current Year Contributions 55, 3,429,5 Equity, Tax Basis Adjustments TOTAL EQUITY 5,689,712 1,744,239 TOTAL LIABILITIES & PARTNER'S EQUITY 9,284,78 13,1,96

4 STATEMENT OF CHANGES IN CASH BALANCE CWB_STCHG3 STCHNGES3 1 12/31/ Current Period Dec 217 Budget Variance Year-To-Date Dec 217 Budget Variance Dec 216 Revised Original Dec 216 Budget Budget CASH FLOWS FROM OPERATING ACTIVITIES Net Income (2,682,264) 2,42,85 (4,725,114) (5,64,527) (895,675) (4,78,852) (179,665) (895,675) (5,179,913) (179,665) Adjustments to reconcile net income to net cash provided by operating activities Depreciation 2,438,51 (2,27,84) 4,645,855 5,78, ,997 4,618, ,997 5,693,994 Amortization 9,416 6,613 2,83 86,693 78,286 8,47 3,417 78,286 68,468 3,417 Other Income Other Expenses Interest Expense Investment Income Loss (Gain) on Sale of Assets Decrease (Increase) in operating assets Restricted Escrows (1,83,462) 1,83,462 (1,83,462) 1,83,462 (1,83,462) Accounts Receivable, Trade 368, ,477 (55,1) (42,63) (11,828) (3,234) (7,19) (11,828) 7,19 (7,19) Notes Receivable (367,18) (367,18) (367,18) (367,18) Other Receivables (23,35) (368,477) 345,442 (123,35) (468,477) 345,442 1, (468,477) (1,) 1, Advances to Affiliates (5,368) (5,368) 4,859 (2,931) 7,79 4,599 (2,931) (68) 4,599 Other Assets (47,446) 1,569 (49,15) (35,76) (191,244) (114,515) (18,2) (191,244) 8,756 (18,2) Increase (Decrease) in operating liabilities Accounts Payable, Trade 711,99 1, 611,99 (58,246) (969,544) 461, ,296 (969,544) (1,142,346) 286,296 Accrued Interest 123, 116, 7, 123, 116, 7, (15,712) 116, 123,195 (15,712) Accrued Expenses (67,546) (12,34) 34,488 (732,528) (763,395) 3, ,95 (763,395) (79,325) 656,95 Deferred Revenue (26,4) (22,256) (4,144) 2,361,15 2,297,218 63,932 36,45 2,297,218 3,12,265 36,45 Tenant/Customer Deposits 29,862 29,862 96,781 29,862 3,845 96,781 Net Cash Provided (Used) By Operating Activities 386,766 (1,93,524) 1,48, (1,45,196) 1,45,88 963,14 (1,45,196) 1,794, ,14 CASH FLOWS FROM INVESTING ACTIVITIES Tenant Improvements (1,694,423) (1,16,955) (587,468) (6,366,772) (6,44,921) (321,851) (2,5,61) (6,44,921) (7,948,47) (2,5,61) Commissions (714,35) (687,96) (26,939) (19,496) (687,96) (663,549) (19,496) Other Capital (72,4) 325, (397,4) (2,489,6) (2,119,892) (369,114) (18,74,718) (2,119,892) (2,411,576) (18,74,718) Accrued Capital Projects Deferred Commissions 55,972 55,972 Land Held for Development Land Held for Sale Development Studies Investments 217 Reforecast

5 STATEMENT OF CHANGES IN CASH BALANCE CWB_STCHG3 STCHNGES3 2 12/31/ Current Period Dec 217 Budget Variance Year-To-Date Dec 217 Budget Variance Dec 216 Revised Original Dec 216 Budget Budget Loan Costs (53,234) (45,567) (7,667) (643,968) (45,567) (643,968) Other Intangibles (17,813) (17,813) (17,813) (17,813) Gain (Loss) on Sale of Assets Net Cash Provided (Used) By Investing Activities (1,766,463) (781,955) (984,58) (9,674,888) (9,5,29) (669,599) (21,994,792) (9,5,29) (11,13,985) (21,994,792) CASH FLOWS FROM FINANCING ACTIVITIES Increase (Decrease) in Mortgage Notes Payable 1,246,568 1,38, (133,432) 1,717,269 11,584,164 (866,894) 17,617,728 11,584,164 9,699,94 17,617,728 Increase (Decrease) in Other Notes Payable 55, (55,) (55,) (55,) 55, (15,) 55, Net Cash Provided (Used) By Financing Activities 1,246,568 1,93, (683,432) 1,167,269 11,584,164 (1,416,894) 18,167,728 11,584,164 9,549,94 18,167,728 CASH FLOW (DEFICIT) GENERATED FOR THE PERIOD (133,13) 54,521 (187,651) 492,994 1,173,678 (68,685) (2,863,959) 1,173, ,286 (2,863,959) Contributions from Partners (55,) 55, 55, 55, 3,429,5 3,429,5 Net Cash Provided (Used) By Contributions (Distributions) (55,) 55, 55, 55, 3,429,5 3,429,5 NET INCREASE (DECREASE) IN CASH & EQUIVALENTS (133,13) (495,479) 362,349 1,42,994 1,173,678 (13,685) 565,541 1,173, , ,541 CASH & CASH EQUIVALENTS, BEGINNING OF PERIOD 1,773,68 2,266,641 (493,33) 597, ,484 31, , ,49 31,944 CASH & CASH EQUIVALENTS, END OF PERIOD 1,64,478 1,771,163 (13,685) 1,64,478 1,771,163 (13,685) 597,484 1,771,163 81, ,484 Summary: Restricted Cash & Cash Equivalents 1,58,29 1,751,82 (243,611) 1,58,29 1,751,82 (243,611) 1,34,777 1,751,82 1,34,777 1,34,777 Unrestricted Cash & Cash Equivalents 132,27 19, , ,27 19, ,926 (77,292) 19,343 (494,3) (77,292) Total Restricted & Unrestricted Cash 1,64,478 1,771,163 (13,685) 1,64,478 1,771,163 (13,685) 597,484 1,771,163 81, , Reforecast

6 Comparative Income Statement - Detail CWB_CMPINCDT IS_MU_DETV3 1 Account # Current Period Year-To-Date Budget Budget Dec 217 Dec 217 Variance Dec 217 Dec 217 Variance Prior Year Revised Original Budget Budget Prior Year INCOME MINIMUM RENT Minimum Rent MU ,71 19,71 1,233,371 1,233,371 36,17 1,233,371 1,293,197 36,17 Additional Rent-Billed MU ,8 28,8 149,34 15,95 43,435 15,95 261,323 Rent Abatement-Billed MU41155 (22,27) (22,27) (36,17) (22,27) (22,27) (36,17) TOTAL MINIMUM RENT 137,15 19,71 28,8 1,18,684 1,137,249 43,435 1,137,249 1,352,493 SPECIALTY LEASING Penthouse MU , (2,75) 3,25 11, (7,75) 11, 17,5 Rooftop MU4161 2, ,489 16,976 14,12 2,874 14,12 15,244 Assembly MU ,6 (2,568) 432 7,55 (7,118) 7,55 14,15 TOTAL SPECIALTY LEASING 2,521 6,35 (3,829) 2,658 32,652 (11,994) 32,652 46,894 DIRECT TENANT Space Work MU ,74 31,74 57,18 16,546 4,634 16,546 Utilities MU ,6 (1,242) 3,981 22,854 8,127 7,25 22,854 7,25 TOTAL DIRECT TENANT 31,432 1,6 29,832 88,161 39,4 48,761 7,25 39,4 7,25 MISCELLANEOUS Administrative Fees MU ,4 2,4 84 2,4 2,4 84 Storage MU4313 1,325 1,325 17,8 17,3 5 17,3 13,8 Miscellaneous MU4319 5, (5,) (2,83) 277,51 (279,583) 277,51 475,1 Miscellaneous MU ,83 2,83 27,833 27,833 Hourly Parking MU , ,459 6,18 4,72 1,46 4,72 6,4 Weekend Parking MU (8) 884 1,74 (19) 1,74 1,6 Validation Parking MU (4) 1,2 (1,2) 1,2 3,2 Event Parking MU (9) Reforecast

7 Comparative Income Statement - Detail CWB_CMPINCDT IS_MU_DETV3 2 Account # Current Period Year-To-Date Budget Budget Dec 217 Dec 217 Variance Dec 217 Dec 217 Variance Prior Year Revised Original Budget Budget Prior Year TOTAL MISCELLANEOUS 5,987 7,925 (1,938) 296,243 34,567 (8,324) 84 34,567 53,11 84 PARKING Hourly Parking MU4411 1,1 1,7 (69) 17,598 18,767 (1,169) 5 18,767 17, 5 Monthly Parking-SP MU ,395 16,81 9,585 17, ,878 14, ,878 15,795 Event Parking MU (8) 84 1,16 (32) 1,16 1,8 Validation MU (2) 2,4 3,1 (7) 3,1 2, TOTAL PARKING 27,445 18,83 8, , ,95 12, ,95 17,875 5 TOTAL INCOME 24, ,776 6,759 1,776,926 1,692,772 84,154 7,114 1,692,772 2,73,363 7,114 EXPENSES SPECIALTY LEASING Contract Labor-Rotunda MU ,375 1, ,987 2,9 2,987 5,525 Contract Serv-Rotunda MU ,878 1,119 (1,759) 1,119 1,434 Cleaning-Rotunda MU (159) 159 (159) Supplies-Rotunda MU , (4,14) Supplies - Amenity Spaces MU , ,75 2,496 TOTAL SPECIALTY LEASING 32 2,2 1,682 7,881 5,695 (2,186) 5,695 1,31 OPERATING COSTS / CAM GENERAL BUILDING Wages MU ,4 3,482 (3,558) 55,331 51,999 (3,331) 51,999 41,81 Payroll Taxes MU (241) 3,642 3, ,811 3,76 Payroll Benefits & Costs MU , (576) 6,413 6, ,78 8,187 Pre-Employment Screening MU Reforecast

8 Comparative Income Statement - Detail CWB_CMPINCDT IS_MU_DETV3 3 Account # Current Period Year-To-Date Budget Budget Dec 217 Dec 217 Variance Dec 217 Dec 217 Variance Prior Year Revised Original Budget Budget Prior Year Employee Search MU (48) (311) Contract Services MU ,125 2,1 (2,124) 23,119 2,374 (2,745) 569 2,374 24, Supplies MU ,141 2 (5,941) 13,821 26,835 13,13 26,835 2,85 Supplies - Bonfils MU (423) 423 Office Supplies MU (71) 1, (834) Repairs & Maintenance MU , (48,532) 64,971 16,35 (48,936) 16,35 7,51 Small Tools & Equipment MU (69) 1,357 1, , Telephone MU (45) (221) 239 Window Washing MU ,47 19 (7,28) 14,83 19,355 4,525 19,355 2,41 Exterminator MU (85) (15) Personal Property Taxes MU Fire Prevention MU ,1 5, ,473 1,84 Licenses, Fees & Permits MU Signs & Directories MU Keys & Locks MU ,94 2,4 1 2,4 2,258 Insurance MU ,469 1,569 (1,899) 24,531 18,833 (5,698) 18,833 18,833 TOTAL GENERAL BUILDING 79,62 1,415 (69,25) 217, ,288 (43,498) , , JANITORIAL Contract Cleaning MU ,415 4,519 (3,896) 57,288 47,875 (9,413) 4,8 47,875 53,374 4,8 Supplies MU ,782 1,6 (182) 17,733 15,835 (1,898) 15,835 19,5 Trash MU ,474 1,5 (424) 8,21 8, ,663 9, TOTAL JANITORIAL 11,671 7,169 (4,51) 83,42 72,372 (1,67) 5,365 72,372 82,733 5,365 SECURITY Contract Services MU52135 (794) 25 1,44 6,23 5,917 (16) 5,917 3,867 Supplies MU (845) 2,121 (2,121) Telephone MU (7) 3,1 3,82 (18) 96 3,82 2, TOTAL SECURITY ,245 8,999 (2,245) 96 8,999 6, Reforecast

9 Comparative Income Statement - Detail CWB_CMPINCDT IS_MU_DETV3 4 Account # Current Period Year-To-Date Budget Budget Dec 217 Dec 217 Variance Dec 217 Dec 217 Variance Prior Year Revised Original Budget Budget Prior Year EXTERIOR MAINTENANCE Contract Services MU , (34) 13,768 9,121 (4,647) 52 9,121 1,19 52 Snow Removal MU ,5 1,974 1,396 3,37 1, ,37 4, Exterior Supplies MU ,674 2, ,824 5 Repairs & Maintenance MU TOTAL EXTERIOR MAINTENANCE 1,824 3,594 1,77 17,838 15,465 (2,373) 1,242 15,465 15,741 1,242 UTILITIES HVAC Supplies MU (28) 11,762 1,85 (9,912) 1,85 5 HVAC Repairs MU HVAC Telephone MU HVAC MU ,878 Electricity MU ,44 1,4 1,96 136,51 142,483 5,982 2, 142, ,249 2, Gas MU ,935 1, ,939 1, Water MU ,62 8 (1,82) 18,997 18,63 (394) 1,4 18,63 8,688 1,4 TOTAL UTILITIES 11,528 11,49 (119) 17,45 165,724 (4,321) 21,59 165, ,11 21,59 PLUMBING Supplies MU Repairs & Maintenance MU (35) 3, (3,194) 54 1,798 TOTAL PLUMBING , (3,44) 72 2,298 ELECTRICAL Supplies MU , ,598 2,725 Repairs & Maintenance MU ,52 2,6 (4,92) 2,6 1, TOTAL ELECTRICAL ,113 4,198 (3,915) 4,198 3, Reforecast

10 Comparative Income Statement - Detail CWB_CMPINCDT IS_MU_DETV3 5 Account # Current Period Year-To-Date Budget Budget Dec 217 Dec 217 Variance Dec 217 Dec 217 Variance Prior Year Revised Original Budget Budget Prior Year ELEVATOR / ESCALATOR Contract Services MU (25) 7,838 7,91 (746) 7,91 Repairs & Maintenance MU ,898 4,817 (81) 4,817 1,5 Telephone MU ,245 Licenses, Fees & Permits MU TOTAL ELEVATOR / ESCALATOR ,436 13,16 (329) 13,16 3,795 TOTAL OPERATING COSTS / CAM 15,48 34,522 (7,887) 525,25 454,855 (7,396) 29, , ,654 29,889 REAL ESTATE TAXES Real Estate Taxes MU ,116 9, ,15 111, ,31 111,31 17, ,31 TOTAL REAL ESTATE TAXES 9,116 9, ,15 111, ,31 111,31 17, ,31 DIRECT TENANT Supplies MU ,891 5,818 (74) 5,818 Repairs & Maintenance MU ,551 (17,551) 51,933 19,651 (32,282) 19,651 Electricity MU ,6 1,242 3,981 2,469 (1,512) 2,469 TOTAL DIRECT TENANT 17,99 1,6 (16,39) 88,85 45,938 (42,867) 45,938 TP PARKING Contract Services MU ,7 495 (2,575) 5,412 3,829 (1,583) 4 3,829 5,215 4 Parking Contract Expenses MU ,684 4,437 1,753 22,392 24,822 2,43 24,822 4,258 Snow Removal MU ,5 2,5 15 2,65 2,5 2,65 3,45 Supplies MU ,731 1, ,881 1,582 Credit Card Fees MU (141) 3,392 5,163 1, ,163 1, Repairs & Maintenance MU (148) 5,415 6, ,67 3,5 35 Telephone MU ,887 2, ,155 2, Reforecast

11 Comparative Income Statement - Detail CWB_CMPINCDT IS_MU_DETV3 6 Account # Current Period Year-To-Date Budget Budget Dec 217 Dec 217 Variance Dec 217 Dec 217 Variance Prior Year Revised Original Budget Budget Prior Year Electricity MU ,5 1,4 (1) 18,17 17,974 (133) 17,974 34,814 Water MU ,69 1,631 (438) 1,631 1,287 Fire Prevention MU (97) 2,353 2, ,455 2,88 75 Contract Cleaning MU ,88 4,38 1,5 4,38 3,5 Supplies MU Elevator Contract Service MU (3) (22) Elevator Repairs MU Elevator Telephone MU ,8 Elevator License Fee MU TOTAL TP PARKING 8,729 1,491 1,761 66,781 74,239 7,458 1,745 74,239 12,682 1,745 MS GARAGE Contract Services MU ,125 Parking Contract Exp MU ,69 39 (8,679) 11,773 3,159 (8,614) 3,159 18,823 Snow Removal MU ,5 1,5 1,5 1,5 1,5 1,5 Supplies MU Repairs & Maintenance MU Electricity MU TOTAL MS GARAGE 9,69 2,46 (7,23) 11,92 5,374 (6,546) 5,374 21,958 TOTAL MISCELLANEOUS EXPENSES 17,799 12,537 (5,262) 78,71 79, ,745 79, ,64 1,745 GENERAL AND ADMINISTRATIVE Employee Relations MU Contract Services MU Snow Removal MU54116 (6) (6) Supplies MU (224) (124) Office Supplies MU ,96 1,82 (14) 1,82 2,534 Bank Service Fees MU (161) (161) Repairs & Maintenance MU Reforecast

12 Comparative Income Statement - Detail CWB_CMPINCDT IS_MU_DETV3 7 Account # Current Period Year-To-Date Budget Budget Dec 217 Dec 217 Variance Dec 217 Dec 217 Variance Prior Year Revised Original Budget Budget Prior Year Small Tools & Equipment MU Inc. Tax & Franchise Fee MU Cable & Internet Exp MU ,531 3, ,497 4, Telephone MU Advertising & Promotion MU ,782 9,482 (3) 11,954 9,482 11,954 Donations MU , 12, 2,52 12, 2,52 Legal -Partnership MU ,94 5,632 (3,38) 5,632 5,75 Gas MU (1,437) (1,437) Water MU (22) (22) Accounting & Auditing MU ,65 4,65 4,65 12,15 Tenant Relations MU ,45 2,776 1,972 13,67 2,635 13,67 17,725 Meals & Entertainment MU Travel & Airfare MU (53) 32 Penalties MU Licenses, Fees & Permits MU ,249 1, , Postage & Delivery MU (84) 14 1 Civic Fees and Meals MU Signs & Directories MU Professional Services MU ,5 (18,5) 23,956 4,861 (19,95) 45 4,861 1,5 45 Miscellaneous MU (38) Insurance MU ,324 2,324 TOTAL GENERAL AND ADMINISTRATIVE 2,9 4,436 (15,654) 79,316 6,39 (18,926) 15,658 6,39 47,989 15,658 MANAGEMENT FEES Management Fees MU ,144 6,144 1, 47,744 48, ,368 58, TOTAL MANAGEMENT FEES 5,144 6,144 1, 47,744 48, ,368 58, TOTAL ALLOCABLE UTILITIES EXPENSE TOTAL ALLOCABLE SECURITY 217 Reforecast

13 Comparative Income Statement - Detail CWB_CMPINCDT IS_MU_DETV3 8 Account # Current Period Year-To-Date Budget Budget Dec 217 Dec 217 Variance Dec 217 Dec 217 Variance Prior Year Revised Original Budget Budget Prior Year TOTAL ALLOCABLE UNIFORM TOTAL ALLOCABLE COMMUNICATIONS TOTAL ALLOCABLE RE TAX DEPARTMENT TOTAL ALLOCABLE MANAGEMENT OFFICE APARTMENT EXPENSES TOTAL APARTMENT EXPENSES TOTAL EXPENSES 175,786 7,516 (15,27) 938,847 86,169 (132,678) 158,988 86, , ,988 NET OPERATING INCOME 28,749 73,26 (44,51) 838,79 886,63 (48,524) (151,874) 886,63 1,331,23 (151,874) INTEREST EXPENSE, NET Interest -First Mortgage MU611 (223,763) (2,) (23,763) (1,32,99) (1,4,725) (27,374) (2,555) (1,4,725) (1,99,638) (2,555) Interest -Second Mortgage MU612 (14,632) (32,) 17,368 (84,429) (14,45) 19,616 (21,819) (14,45) (63,213) (21,819) Interest Expense-Other MU616 (32,68) (32,68) (17,88) (138,272) (32,68) (138,272) Interest - Bank MU (26) 2,547 3,49 (52) 3,49 Interest Income-Other MU626 7,263 7,263 7,263 7,263 TOTAL INTEREST EXPENSE, NET (263,546) (231,6) (31,946) (1,277,598) (1,243,992) (33,66) (24,374) (1,243,992) (1,162,851) (24,374) DEPRECIATION AND AMORTIZATION 217 Reforecast

14 Comparative Income Statement - Detail CWB_CMPINCDT IS_MU_DETV3 9 Account # Current Period Year-To-Date Budget Budget Dec 217 Dec 217 Variance Dec 217 Dec 217 Variance Prior Year Revised Original Budget Budget Prior Year Depreciation MU611 (2,438,52) 2,27,83 (4,645,855) (5,78,317) (46,) (4,618,317) (46,) (5,284,41) Amortization MU612 (9,415) (6,613) (2,82) (86,692) (78,286) (8,46) (3,417) (78,286) (63,676) (3,417) TOTAL DEPRECIATION AND AMORTIZATION (2,447,467) 2,21,19 (4,648,657) (5,165,8) (538,285) (4,626,723) (3,417) (538,285) (5,348,86) (3,417) NET INCOME (2,682,264) 2,42,85 (4,725,114) (5,64,527) (895,675) (4,78,852) (179,665) (895,675) (5,179,913) (179,665) 217 Reforecast

15 Aged Delinquencies Summary 1 COPAKENBROOK Period: 12/17 CWB_CMAGESUM Building Lease Suite Occpname Amount Current Hollis + Miller Architects, Inc. 1, , , Holmes, Murphy & Associates, LL 4, , , Corvino 3, , , , The Roasterie WeWork 29, , , , Grand Total: 49, , , , , ,41.92

16 Rent Roll CWB_RRLEND 1 11:44 AM NOTE: Temporary Tenants are excluded. Category & Building 12/31/217 totals do not include 'Leased& Unoccupied' and 'New Lease' totals which are already reflected in 'Occupied& Vacant'. Rentable Suite Id Tenant Name Occupancy Status --- Lease Dates --- Square Base Rent Cost Recovery Start Expire Footage Annual Amt PSF Annual Amt PSF Cat Other Income Future Rent Increases Annual Amt PSF Cat Date Annual Amt PSF Cat In-Line Occupied Suites 93-1 Corvino 4/1/17 3/31/27 6,72 16, ,98. 2,4..4 6,..99 8,4. PKG STR 4/1/18 2, PKG 4/1/19 2, PKG 4/1/2 2, PKG 4/1/21 2, PKG 4/1/22 2, PKG 4/1/23 2, PKG 4/1/24 2, PKG 4/1/25 3,4.2.5 PKG 4/1/26 3, PKG 4/1/2 165, RNT 4/1/21 17, RNT 4/1/22 175, RNT 4/1/23 181, RNT 4/1/24 186, RNT 4/1/25 192, RNT 4/1/26 197, RNT 4/1/18 6, STR 4/1/19 6, STR 4/1/2 6, STR 4/1/21 6, STR 4/1/22 6, STR 4/1/23 7, STR 4/1/24 7, STR 4/1/25 7, STR 4/1/26 7, STR The Roasterie 4/1/17 3/31/27 1,538 46, ,14. 2, , ,8. PKG STR 4/1/18 2, PKG 4/1/19 2, PKG 4/1/2 2, PKG 4/1/21 2, PKG 4/1/22 2, PKG 4/1/23 2, PKG 4/1/24 2, PKG 4/1/25 3, PKG 4/1/26 3, PKG 4/1/2 47, RNT 4/1/21 48, RNT 4/1/22 48, RNT

17 Rent Roll CWB_RRLEND 2 11:44 AM NOTE: Temporary Tenants are excluded. Category & Building 12/31/217 totals do not include 'Leased& Unoccupied' and 'New Lease' totals which are already reflected in 'Occupied& Vacant'. Rentable Suite Id Tenant Name Occupancy Status --- Lease Dates --- Square Base Rent Cost Recovery Start Expire Footage Annual Amt PSF Annual Amt PSF Cat Other Income Future Rent Increases Annual Amt PSF Cat Date Annual Amt PSF Cat 4/1/23 49, RNT 4/1/24 5, RNT 4/1/25 51, RNT 4/1/26 52, RNT 4/1/18 2, STR 4/1/19 2, STR 4/1/2 2, STR 4/1/21 2, STR 4/1/22 2, STR 4/1/23 2, STR 4/1/24 2, STR 4/1/25 3, STR 4/1/26 3, STR Total Occupied Suites 6.86% 7,61 27, ,2. Total Leased: 6.86% 7,61 27, ,2. Total In-Line 6.86% 7,61 27, ,2. Office Occupied Suites 93-3 WeWork 7/5/17 3/31/32 44,... 24, , MSC 3/2/18 1,232, RNT 4/1/19 1,256, RNT 4/1/2 1,281, RNT 4/1/21 1,37, RNT 4/1/22 1,333, RNT 4/1/23 1,36, RNT 4/1/24 1,387, RNT 4/1/25 1,415, RNT 4/1/26 1,443, RNT 4/1/27 1,472, RNT 4/1/28 1,531, RNT 4/1/29 1,562, RNT 4/1/3 1,593, RNT 4/1/31 1,625, RNT

18 Rent Roll CWB_RRLEND 3 11:44 AM NOTE: Temporary Tenants are excluded. Category & Building 12/31/217 totals do not include 'Leased& Unoccupied' and 'New Lease' totals which are already reflected in 'Occupied& Vacant'. Rentable Suite Id Tenant Name Occupancy Status --- Lease Dates --- Square Base Rent Cost Recovery Start Expire Footage Annual Amt PSF Annual Amt PSF Cat Other Income Future Rent Increases Annual Amt PSF Cat Date Annual Amt PSF Cat 93-7 Holmes, Murphy & Associates, LLC12/19/16 1/31/27 11,38 275, , Additional Space /1/17 1/31/27 2,685 71, , , , ,7. PKG STR 1/1/22 51, PKG 1/1/18 281, RNT 1/1/19 4/1/18 287, , RNT 1/1/2 4/1/19 292, , RNT 1/1/21 4/1/2 298, , RNT 1/1/22 4/1/21 34, , RNT 1/1/23 4/1/22 31, , RNT 1/1/24 4/1/23 317, , RNT 1/1/25 4/1/24 323, , RNT 1/1/26 4/1/25 329, , RNT 1/1/18 4/1/26 92, , RNT STR 1/1/19 5, STR 1/1/2 5, STR 1/1/21 5, STR 1/1/22 5, STR 1/1/23 5, STR 1/1/24 5, STR 1/1/25 6, STR 1/1/26 6, STR Total: 13, , Hollis + Miller Architects, Inc. 12/19/16 3/31/27 3, , ,7.4 96, , ,6. PKG STR 1/1/18 91, PKG 1/1/22 12, PKG 1/1/18 769, RNT 1/1/19 783, RNT 1/1/2 799, RNT 1/1/21 814, RNT 1/1/22 83, RNT 1/1/23 846, RNT 1/1/24 862, RNT 1/1/25 879, RNT 1/1/26 895, RNT 1/1/18 2, STR 1/1/19 2, STR 1/1/2 2, STR 1/1/21 3, STR 1/1/22 3, STR 1/1/23 3, STR 1/1/24 3, STR 1/1/25 3, STR 1/1/26 3, STR

19 Rent Roll CWB_RRLEND 4 11:44 AM NOTE: Temporary Tenants are excluded. Category & Building 12/31/217 totals do not include 'Leased& Unoccupied' and 'New Lease' totals which are already reflected in 'Occupied& Vacant'. Rentable Suite Id Tenant Name Occupancy Status --- Lease Dates --- Square Base Rent Cost Recovery Start Expire Footage Annual Amt PSF Annual Amt PSF Cat Other Income Future Rent Increases Annual Amt PSF Cat Date Annual Amt PSF Cat Additional Space /19/16 3/31/27 1/1/27 3, STR Additional Space /19/16 3/31/27 Total: 3, , Total Occupied Suites 79.21% 87,911 1,11, , Total Leased: 79.21% 87,911 1,11, , Future Leases CardConnect, LLC 3/7/18 3/31/25 11,15 237, , , ,58. PKG 3/7/18 41, PKG 4/1/23 45, PKG 3/7/18 237, RNT 4/1/19 285, RNT 4/1/2 324, RNT 4/1/21 331, RNT 4/1/22 337, RNT 4/1/23 344, RNT 4/1/24 351, RNT Total Future Leases 1.5% 11,15 237, ,58. Total Office 89.26% 99,61 1,339, , Vacant Suites In-Line ,319.. Total In-Line 2,319. In-line Tenant I ,992.. Total In-line Tenant I 1,992. Office ,15.. Total Office 11,15. Total Vacant Suites 13.93% 15,461.

20 Rent Roll CWB_RRLEND 5 11:44 AM NOTE: Temporary Tenants are excluded. Category & Building 12/31/217 totals do not include 'Leased& Unoccupied' and 'New Lease' totals which are already reflected in 'Occupied& Vacant'. Rentable Suite Id Tenant Name Occupancy Status --- Lease Dates --- Square Base Rent Cost Recovery Start Expire Footage Annual Amt PSF Annual Amt PSF Cat Other Income Future Rent Increases Annual Amt PSF Cat Date Annual Amt PSF Cat Total Occupied Vacant Total: Occupied Future Leases To Be Closed Total Leased: Accounting Rent Roll : ( 5 Units ) 86.7% 95,521 1,38, , ( 3 Units ) 13.93% 15, % 11,982 1,38, , Effective Leasing Status : ( 5 Units ) 86.7% 95,521 1,38, , ( 1 Units ) 1.5% 11,15 237, ( Units ).% , % 16,671 1,546, , Vacant Future Leases To Be Closed Total Not Leased: ( 3 Units ) 13.93% 15,461 ( 1 Units ) -1.5% -11,15 ( Units ).% 3.88% 4, , ,