$29 MILLION NET LEASED DEAL - ONLY 6.1% CASH DOWN


Executive Summary

Lessee
PetsMart, Inc. The Lessee has an S&P B+ rating

The Properties
Eight retail properties located m the states of Arizona, California, Michigan, Missouri, and Tennessee all leased to PetsMart.

Form of Lease
Eight bond type net leases. Under these leases, the Lessee is obligated to pay all costs associated wit the use, possession, control, maintenance and operation of each property. The Leases are completely net, with rents sufficient to meet the scheduled interest and principal payments on the Notes referred to below as they become due. Term: 20 years with two five year options.

Existing Financing
Eight promissory Notes (the Notes, or individually the Note) in an aggregate principal amount of $27,094,013 maturing on January 11, 2008. The Notes are non-recourse to the Lessors.

Security
The interest rate on the Notes is 8.77% per annum; the Notes are amortized on a 30 year amortization schedule. The Notes are secured by: 1) a first mortgage and security interest in each of the Properties, 2) the assignment of the Lease of each Property, including the right to receive directly from PetsMart all rents and other amounts payable by PetsMart, and 3) PetsMart's consent to the assignment of each Lease.

Form of Conveyance
Transfer of Lessor's beneficial interest in the Delaware Business Trusts or, at the Purchaser's option, transfer by deed

Equity Investment
6.5% of loan amount

For Furthur Information on PetsMart Click below:

SEC Filings: http://www.sec.gov/cgi-bin/srch-edgar?petsmart

Corporate Home Page: http://www.petsmart.com


Contact Information

John M. "Jack" Peckham III CCIM, CIPS, RECS
Peckham Boston Advisors
(Founded 1963 - Our 47th Year)
Four Longfellow Place, Suite 2003
Boston, MA 02114
Phone 617 523 4441 Ext. 6

Email: info@REOtoCash.com
Web: www.REOtoCash.com

All information is from sources we deem reliable and is submitted subject to errors, omissions, prior sale, lease, withdrawal without notice, or change in price and conditions. While we do not doubt it's accuracy, no representation thereof is made.

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