Exhibit 10.2





Exhibit 4.1
and 10.2



EXECUTION VERSION




SECOND LETTER AMENDMENT




Dated as of September 30, 2008




Deutsche Bank Trust Company Americas,

       as Administrative Agent under the

       Credit Agreement referred to below

60 Wall Street

New York, New York 10005





			
	     Re:	 	Grubb & Ellis Company Credit Facility





Ladies and Gentlemen:




     Reference is made to the Second Amended and Restated Credit Agreement dated as of December 7,
2007 (as amended by that certain First Letter Amendment dated as of August 4, 2008, the “Credit
Agreement”) by and among Grubb & Ellis Company (the “Borrower”), the guarantors named therein,
Deutsche Bank Trust Company Americas, as administrative agent (the “Administrative Agent”), the
financial institutions identified therein as lender parties (the “Lender Parties”), Deutsche Bank
Trust Company Americas, as syndication agent, and Deutsche Bank Securities Inc., as sole book
running manager and sole lead arranger. Capitalized terms not otherwise defined herein shall have
their respective meanings set forth in the Credit Agreement.



     It is hereby agreed by you and us as follows:



     Section 1. Amendments to Credit Agreement. The Credit Agreement is, upon the
occurrence of the Amendment Effective Date (as defined in Section 3 below), hereby amended as
follows:



     (a) The definition of “Applicable Margin” set forth in Section 1.01 of the Credit
Agreement is hereby amended by deleting the pricing grid therein and substituting the
following pricing grid therefor:



	 	 	 	 	 	 	 
	 	 	 	 	Applicable Margin	 	Applicable Margin
	Pricing	 	 	 	for Base Rate	 	for Eurodollar Rate
	Level	 	Debt/EBITDA Ratio	 	Advances	 	Advances
	I
	 	> 2.50:1.00
	 	2.50%
	 	3.50%
	II
	 	3
1.50:1.00 but £ 2.50:1.00
	 	2.00%
	 	3.00%
	III
	 	< 1.50:1.00
	 	1.50%
	 	2.50%






     (b) The definition of “Dividend/Share Repurchase Limitation” set forth in Section 1.01 of
the Credit Agreement is hereby deleted in its entirety.



     (c) The definition of “Limited Purpose Subsidiary” is hereby amended by (i) inserting the
words “and/or owning” immediately prior to the words “and improving” in the fifth
(5th) line thereof and (ii) inserting the following sentence at the end thereof:
“As of the Second Amendment Effective Date, the Borrower acknowledges that the Limited Purpose
Subsidiaries



 









 







include (i) GERA Abrams Centre LLC, (ii) GERA 6400 Shafer LLC, (iii) GERA Danbury
Corporate Center LLC, (iv) NNN 200 Galleria, LLC and (v) NNN Avallon, LLC.”



     (d) Section 1.01 of the Credit Agreement is hereby amended by adding the following new
defined terms thereto in appropriate alphabetical order:



     “GERA Assets” means any real property owned or held by any of the GERA Property
Acquisition Subsidiaries, which includes, (i) the property located at 6400 Shafer
Court, Rosemont, Illinois, (ii) the property located at 9330 LBJ Freeway, Dallas,
Texas, and (iii) the property located at 39 & 55 Old Ridgebury Road, Danbury,
Connecticut.



     “Second Amendment Effective Date” means September 30, 2008.



     (e) Section 2.01(a) of the Credit Agreement is hereby amended by (i) deleting “the
Termination Date” on the fourth (4th) line thereof and substituting therefor
“September 30, 2008, but expressly subject to the last sentence of this Section 2.01(a),”, and
(ii) inserting the following sentence at the end thereof: “For the avoidance of doubt,
notwithstanding anything to the contrary contained herein, no Revolving Credit Advances shall
be available after September 30, 2008 until such time as the Revolving Credit Commitments have
been reduced to less than $50,000,000, at which time Revolving Credit Advances shall be
available up to the Unused Revolving Credit Commitments of the Revolving Credit Lenders at
such time.”



     (f) Section 2.01(b) of the Credit Agreement is hereby amended by (i) deleting “the
Termination Date” on the third (3rd) line thereof and substituting therefor
“September 30, 2008, but expressly subject to the last sentence of this Section 2.01(b),”, and
(ii) inserting the following sentence at the end thereof: “For the avoidance of doubt,
notwithstanding anything to the contrary contained herein, no Swing Line Advances shall be
available after September 30, 2008 until such time as the Revolving Credit Commitments have
been reduced to less than $50,000,000, at which time Swing Line Advances shall be available
(i) in an aggregate amount not to exceed at any time outstanding the Swing Line Bank’s Swing
Line Commitment at such time and (ii) in an amount for each such Swing Line Advance not to
exceed the aggregate of the Unused Revolving Credit Commitments of the Revolving Credit
Lenders at such time.”



     (g) Section 2.01(c) of the Credit Agreement is hereby amended by (i) deleting “60 days
before the Termination Date” on the fourth (4th) line thereof and substituting
therefor “September 30, 2008, but expressly subject to the last sentence of this Section
2.01(c),”, and (ii) inserting the following sentence at the end thereof: “For the avoidance of
doubt, notwithstanding anything to the contrary contained herein, no Letters of Credit shall
be available after September 30, 2008 until such time as the Revolving Credit Commitments have
been reduced to less than $50,000,000, at which time Letters of Credit shall be available in
an Aggregate Available Amount (i) for all Letters of Credit issued by the Issuing Bank not to
exceed at any time the Letter of Credit Facility at such time, (ii) for all Letters of Credit
issued by the Issuing Bank not to exceed such Issuing Bank’s Letter of Credit Commitment at
such time and (iii) for each such Letter of Credit not to exceed an amount equal to the Unused
Revolving Credit Commitments of the Revolving Credit Lenders at such time.”



     (h) The following new subsection (iii) is hereby added to the end of Section 2.05(b) of
the Credit Agreement:



     (iii) Upon the receipt of any prepayment pursuant to Section 2.06(e), the
Revolving Credit Commitments shall be permanently reduced by one hundred percent



2









 





(100%) of the principal amount of such prepayment; provided, however, under no
circumstances shall the Revolving Credit Commitments be reduced to less than
$50,000,000 by reason of the operation of this Section 2.05(b)(iii).



     (i) Section 2.06(e)(i) is hereby amended by (i) deleting “In the event that the sale
contemplated by Section 5.02(e)(v) is not consummated on or before September 30, 2008, the” at
the beginning thereof and substituting therefor “The”, and (ii) inserting the words “of GERA
Assets” immediately following the word “sale” in the parenthetical on the third
(3rd) line thereof.



     (j) Section 2.07(a)(1) of the Credit Agreement is hereby amended by inserting the
following sentence at the end of such Section immediately prior to the period: “; provided,
however, such rate shall never be less than the sum of the Eurodollar Rate plus the Applicable
Margin for Eurodollar Rate Advances (assuming a one (1) month Interest Period) plus 1.00%.”



     (k) Section 5.01(s) of the Credit Agreement is hereby amended by deleting “real property
held by each Limited Purpose Subsidiary” and substituting therefor “GERA Assets”.



     (l) Section 5.02(b) of the Credit Agreement is hereby amended by (i) inserting “and
Preferred Interests” at the end of the title of such Section immediately prior to the period,
and (ii) inserting the following immediately after the word “Debt” and prior to the word
“except”: “or create, incur, assume or suffer to exist, or permit any of its Restricted
Subsidiaries to create, incur, assume or suffer to exist any Preferred Interests, in each
case”.



     (m) Section 5.02(b)(iii)(F) of the Credit Agreement is hereby amended by deleting
“$125,000,000” and substituting therefor “$50,000,000”.



     (n) Section 5.02(b)(iii)(H) is hereby amended and restated in its entirety to read as
follows:



     “(H) other Debt subordinated to Debt incurred hereunder and/or Preferred
Interests, in each case in amounts and on terms and conditions satisfactory to the
Administrative Agent and Required Lenders;”



     (o) Section 5.02(b)(iv) of the Credit Agreement is hereby amended by inserting “next to”
immediately prior to the word “last” in the last line of such Section.



     (p) The proviso immediately following Section 5.02(b)(v) is hereby amended by (i)
deleting the comma immediately following the reference to “(iii)(D)(y)”, (ii) inserting the
word “and” immediately following the reference to “(iii)(D)(y)”, and (iii) deleting “and
(iii)(H)” immediately following the reference to “(iii)(E)”.



     (q) Section 5.02(g) is hereby amended by deleting the colon at the end of the first
paragraph of such Section and all text following the colon in such Section and substituting
therefor: “, any Loan Party may make Restricted Payments to another Loan Party.”



     (r) Section 5.03(d) of the Credit Agreement is hereby amended by (i) deleting “Upon the
request of the Administrative Agent,” at the beginning of such Section and substituting
therefor “As soon as possible and in any event within thirty (30) days after the end of each
calendar month,”, (ii) inserting the following after the word “month,” in the seventh
(7th) line thereof: “and unaudited statements of gross revenues and operating and
other expenses with respect to each



3









 







parcel of real property owned or held by any Limited Purpose Subsidiary, in each case in
form and detail satisfactory to the Administrative Agent,”



     (s) Section 5.04(a) of the Credit Agreement is hereby amended by deleting the table
therein and substituting the following table therefor:



	 	 	 
	Quarter Ending	 	Ratio
	December 31, 2007

	 	3.75:1.00
	March 31, 2008

	 	3.75:1.00
	June 30, 2008

	 	3.75:1.00
	September 30, 2008

	 	5.50:1.00
	December 31, 2008

	 	5.50:1.00
	March 31, 2009 and thereafter

	 	3.50:1.00






     (t) Section 5.04(b) of the Credit Agreement is hereby amended by deleting the table
therein and substituting the following table therefor:



	 	 	 
	Quarter Ending	 	Ratio
	December 31, 2007

	 	3.25:1.00
	March 31, 2008

	 	3.25:1.00
	June 30, 2008

	 	3.25:1.00
	September 30, 2008

	 	3.25:1.00
	December 31, 2008

	 	3.25:1.00
	March 31, 2009

	 	3.25:1.00
	June 30, 2009

	 	3.50:1.00
	September 30, 2009

	 	3.50:1.00
	December 31, 2009

	 	4.00:1.00
	March 31, 2010

	 	4.00:1.00
	June 30, 2010

	 	4.00:1.00
	September 30, 2010

	 	4.00:1.00
	December 31, 2010 and thereafter

	 	4.50:1.00






     (u) Section 5.04(c) of the Credit Agreement is hereby amended by deleting the table
therein and substituting the following table therefor:



4









 





	 	 	 
	Quarter Ending	 	Ratio
	December 31, 2007

	 	2.25:1.00
	March 31, 2008

	 	2.25:1.00
	June 30, 2008

	 	2.25:1.00
	September 30, 2008

	 	4.25:1.00
	December 31, 2008

	 	4.25:1.00
	March 31, 2009 and thereafter

	 	2.25:1.00






     (v) Section 5.04(d) of the Credit Agreement is hereby amended by deleting “$60,000,000”
and substituting therefor “$30,000,000”.



     (w) Section 5.04(f) of the Credit Agreement is hereby amended by deleting “$25,000,000”
and substituting therefor “$15,000,000”.



     (x) Schedule I (Commitments, Pro Rata Shares and Applicable Lending Offices) to the
Credit Agreement is hereby replaced with Schedule I attached hereto.



     (y) Schedule IV to the Credit Agreement is hereby replaced with Schedule IV attached
hereto.



     Section 2. Representations and Warranties. The Borrower hereby represents and
warrants that the representations and warranties contained in each of the Loan Documents (as
amended or supplemented to date, including pursuant to this Amendment) are true and correct on and
as of the Amendment Effective Date (defined below), before and after giving effect to this
Amendment (including, without limitation, the representation and warranty set forth in Section
4.01(o) of the Credit Agreement, as amended by this Amendment), as though made on and as of such
date.



     Section 3. Effectiveness of Amendment. This Second Letter Amendment (this
“Amendment”) shall become effective as of the date first above written (the “Amendment Effective
Date”) solely when (i) the Administrative Agent shall have received counterparts of this Amendment
executed by the Borrower, the Guarantors, the Administrative Agent and the Required Lenders or, as
to any of the Lender Parties, advice satisfactory to the Administrative Agent that such Lender
Party has executed this Amendment, (ii) the Administrative Agent shall have received counterparts
of the Consent attached hereto executed by the Guarantors, (iii) the Administrative Agent shall
have received payment in full of an amendment fee equal to 0.25% of the sum of the Revolving Credit
Commitments of those Lenders that have executed and delivered to the Administrative Agent a
signature page to this Amendment, which fee shall be for the ratable benefit of such Lenders and
(iv) all fees and expenses of the Administrative Agent (including the reasonable fees and expenses
of counsel for the Administrative Agent) due and payable on the date hereof shall have been paid in
full and in accordance with Section 5 below.



     Section 4. Ratification. The Credit Agreement, as amended hereby, and each of the
other Loan Documents are and shall continue to be in full force and effect and are hereby in all
respects ratified and confirmed. The execution, delivery and effectiveness of this Amendment shall
not operate as a waiver of any right, power or remedy of any Lender Party or the Administrative
Agent under any of the Loan Documents, nor constitute a waiver of any provision of any of the Loan
Documents.



5









 





     Section 5. Costs and Expenses. The Borrower agrees to pay on demand all reasonable
out-of-pocket costs and expenses of the Administrative Agent in connection with the preparation,
execution, delivery and administration, modification and amendment of this Amendment and the other
instruments and documents to be delivered hereunder (including, without limitation, the reasonable
fees and expenses of counsel for the Administrative Agent) in accordance with the terms of Section
9.04 of the Credit Agreement.



     Section 6. Counterparts. This Amendment may be executed in any number of counterparts
and by different parties hereto in separate counterparts, each of which when so executed shall be
deemed to be an original and all of which taken together shall constitute one and the same
agreement. Delivery of an executed counterpart of a signature page to this Amendment by telecopier
shall be effective as delivery of a manually executed counterpart of this Amendment.



     Section 7. Governing Law. This Amendment constitutes a Loan Document and shall be
governed by, and construed in accordance with, the laws of the State of New York.



[Balance of page intentionally left blank]



6









 





	 	 	 	 	 
	 	Very truly yours,


GRUBB & ELLIS COMPANY,

as Borrower

 	 
	 	By  	/s/ Richard w. Pehlke
 	 
	 	 	Name:  	Richard W. Pehlke 	 
	 	 	Title:  	Executive Vice President and Chief
Financial Officer 	 
	 



[SIGNATURES CONTINUE ON FOLLOWING PAGES]




 









 








Agreed as of the date first above written:




DEUTSCHE BANK TRUST COMPANY AMERICAS,

as Administrative Agent, a Lender, Issuing Bank

and Swing Line Bank




	 	 	 	 	 
	By

	 	/s/ James Rolison
	 	 
	 

	 	 	 	 
	 

	 	Name: James Rolison

Title: Managing Director	 	 
	 
	 	 	 	 
	By

	 	/s/ Linda Wang	 	 
	 

	 	 	 	 
	 

	 	Name: Linda Wang

Title: Director	 	 






[SIGNATURES CONTINUE ON FOLLOWING PAGES]




 









 








JPMORGAN CHASE BANK, N.A.,

as a Lender




	 	 	 	 	 
	By

	 	/s/ Amy S. Applebaum
	 	 
	 

	 	 	 	 
	 

	 	Name: Amy S. Applebaum

Title: Vice President	 	 






 









 






KEYBANK NATIONAL ASSOCIATION,

as a Lender




	 	 	 	 	 
	By

	 	/s/ Jennifer L. Wells
	 	 
	 

	 	 	 	 
	 

	 	Name: Jennifer L. Wells

Title: Vice President	 	 






 









 






FIFTH THIRD BANK,

as a Lender




	 	 	 	 	 
	By

	 	/s/ Matthew D. Rodgers
	 	 
	 

	 	 	 	 
	 

	 	Name: Matthew D. Rodgers	 	 
	 

	 	Title:Vice President	 	 






 









 






CONSENT




Dated as of September 30, 2008




     Each of the undersigned, as a Guarantor under the Guaranty set forth in Article VIII of the
Second Amended and Restated Credit Agreement dated as of December 7, 2007 (as amended by a certain
First Letter Amendment dated as of August 4, 2008), in favor of the Administrative Agent, for its
benefit and the benefit of the Lender Parties party to the Credit Agreement referred to in the
foregoing Second Letter Amendment, hereby consents to such Second Letter Amendment and hereby
confirms and agrees that notwithstanding the effectiveness of such Second Letter Amendment, the
Guaranty is, and shall continue to be, in full force and effect and is hereby ratified and
confirmed in all respects.



	 	 	 	 	 
	 	GRUBB & ELLIS AFFILIATES, INC.

 	 
	 	By  	/s/ Richard W. Pehlke
 	 
	 	 	Name:  	Richard W. Pehlke 	 
	 	 	Title:  	Chief Financial Officer 	 
	 
	 	GRUBB & ELLIS AFFILIATES, INC.

 	 
	 	By  	/s/ Richard W. Pehlke
 	 
	 	 	Name:  	Richard W. Pehlke 	 
	 	 	Title:  	Chief Financial Officer 	 
	 
	 	GRUBB & ELLIS MANAGEMENT SERVICES, INC.

 	 
	 	By  	/s/ Richard W. Pehlke
 	 
	 	 	Name:  	Richard W. Pehlke 	 
	 	 	Title:  	Chief Financial Officer 	 
	 
	 	GRUBB & ELLIS OF ARIZONA, INC.

 	 
	 	By  	/s/ Richard W. Pehlke
 	 
	 	 	Name:  	Richard W. Pehlke 	 
	 	 	Title:  	Chief Financial Officer 	 
	 
	 	GRUBB & ELLIS ASSET SERVICES COMPANY

 	 
	 	By  	/s/ Richard W. Pehlke
 	 
	 	 	Name:  	Richard W. Pehlke 	 
	 	 	Title:  	Chief Financial Officer 	 
	 



(Signatures continued on next page)




 









 








	 	 	 	 	 
	 	GRUBB & ELLIS CONSULTING SERVICES COMPANY

 	 
	 	By  	/s/ Richard W. Pehlke
 	 
	 	 	Name:  	Richard W. Pehlke 	 
	 	 	Title:  	Chief Financial Officer 	 
	 
	 	GRUBB & ELLIS INSTITUTIONAL PROPERTIES, INC.

 	 
	 	By  	/s/ Richard W. Pehlke
 	 
	 	 	Name:  	Richard W. Pehlke 	 
	 	 	Title:  	Chief Financial Officer 	 
	 
	 	GRUBB & ELLIS OF MICHIGAN, INC.

 	 
	 	By  	/s/ Richard W. Pehlke
 	 
	 	 	Name:  	Richard W. Pehlke 	 
	 	 	Title:  	Chief Financial Officer 	 
	 
	 	GRUBB & ELLIS MORTGAGE GROUP, INC.

 	 
	 	By  	/s/ Richard W. Pehlke
 	 
	 	 	Name:  	Richard W. Pehlke 	 
	 	 	Title:  	Chief Financial Officer 	 
	 
	 	GRUBB & ELLIS OF NEVADA, INC.

 	 
	 	By  	/s/ Richard W. Pehlke
 	 
	 	 	Name:  	Richard W. Pehlke 	 
	 	 	Title:  	Chief Financial Officer 	 
	 
	 	GRUBB & ELLIS NEW YORK, INC.

 	 
	 	By  	/s/ Richard W. Pehlke
 	 
	 	 	Name:  	Richard W. Pehlke 	 
	 	 	Title:  	Chief Financial Officer 	 
	 



(Signatures continued on next page)




 









 








	 	 	 	 	 
	 	GRUBB & ELLIS ADVISERS OF CALIFORNIA, INC.

 	 
	 	By  	/s/ Richard W. Pehlke
 	 
	 	 	Name:  	Richard W. Pehlke 	 
	 	 	Title:  	Chief Financial Officer 	 
	 
	 	GRUBB & ELLIS SOUTHEAST PARTNERS, INC.

 	 
	 	By  	/s/ Richard W. Pehlke
 	 
	 	 	Name:  	Richard W. Pehlke 	 
	 	 	Title:  	Chief Financial Officer 	 
	 
	 	HSM INC.

 	 
	 	By  	/s/ Richard W. Pehlke
 	 
	 	 	Name:  	Richard W. Pehlke 	 
	 	 	Title:  	Chief Financial Officer 	 
	 
	 	WM. A. WHITE/GRUBB & ELLIS INC.

 	 
	 	By  	/s/ Richard W. Pehlke
 	 
	 	 	Name:  	Richard W. Pehlke 	 
	 	 	Title:  	Chief Financial Officer 	 
	 
	 	LANDAUER HOSPITALITY INTERNATIONAL, INC.

 	 
	 	By  	/s/ Richard W. Pehlke
 	 
	 	 	Name:  	Richard W. Pehlke 	 
	 	 	Title:  	Chief Financial Officer 	 
	 
	 	LANDAUER SECURITIES, INC.

 	 
	 	By  	/s/ Richard W. Pehlke
 	 
	 	 	Name:  	Richard W. Pehlke 	 
	 	 	Title:  	Chief Financial Officer 	 
	 



(Signatures continued on next page)




 









 








	 	 	 	 	 
	 	GRUBB & ELLIS MANAGEMENT SERVICES OF MICHIGAN, INC.

 	 
	 	By  	/s/ Richard W. Pehlke
 	 
	 	 	Name:  	Richard W. Pehlke 	 
	 	 	Title:  	Chief Financial Officer 	 
	 
	 	GRUBB & ELLIS EUROPE, INC.

 	 
	 	By  	/s/ Richard W. Pehlke
 	 
	 	 	Name:  	Richard W. Pehlke 	 
	 	 	Title:  	Chief Financial Officer 	 
	 
	 	NNN REALTY ADVISORS, INC.

 	 
	 	By  	/s/ Andrea R. Biller
 	 
	 	 	Name:  	Andrea Biller 	 
	 	 	Title:  	Executive Vice President 	 
	 
	 	GRUBB & ELLIS REALTY INVESTORS, LLC

 	 
	 	By  	/s/ Andrea R. Biller
 	 
	 	 	Name:  	Andrea Biller 	 
	 	 	Title:  	Executive Vice President 	 
	 
	 	TRIPLE NET PROPERTIES REALTY INC.

 	 
	 	By  	/s/ Jeffrey T. Hanson
 	 
	 	 	Name:  	Jeffrey T. Hanson 	 
	 	 	Title:  	Chief Executive Officer 	 
	 
	 	GRUBB & ELLIS RESIDENTIAL MANAGEMENT INC.

 	 
	 	By  	/s/ Michael Rispoli
 	 
	 	 	Name:  	Michael Rispoli 	 
	 	 	Title:  	Chief Financial Officer 	 



 









 






	 	 	 	 	 



SCHEDULE I

COMMITMENTS, PRO RATA SHARES AND APPLICABLE LENDING OFFICES




	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Revolving	 	 	 	 	 	Letter of	 	 	 	 	 	Domestic	 	Eurodollar
	 	 	Credit	 	Revolver Pro Rata	 	Credit	 	Swing Line	 	Lending	 	Lending
	Name of Lender	 	Commitment	 	Share	 	Commitment	 	Commitment	 	Office	 	Office
	Deutsche Bank Trust
	 	$	20,186,773.50	 	 	 	30	%	 	$	7,500,000.00	 	 	$	4,000,000	 	 	60 Wall Street	 	Commercial Loan
	Company Americas
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	New York, NY	 	Division
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	10005	 	90 Hudson Street
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Jersey City, NJ
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	07302
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Fifth Third Bank
	 	$	13,457,849.00	 	 	 	20	%	 	$	0	 	 	$	0	 	 	233 South Wacker,	 	233 South Wacker,
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Suite 400	 	Suite 400
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Chicago, IL 60606	 	Chicago, IL 60606
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	JPMorgan Chase, N.A.
	 	$	13,457,849.00	 	 	 	20	%	 	$	0	 	 	$	0	 	 	245 Park Avenue,	 	245 Park Avenue,
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Floor 14	 	Floor 14
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	New York, NY 10167	 	New York, NY 10167
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	KeyBank National
	 	$	20,186,773.50	 	 	 	30	%	 	$	0	 	 	$	0	 	 	1200 Abernathy	 	1200 Abernathy
	Association
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Road, NE	 	Road, NE
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Suite 1550	 	Suite 1550
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Atlanta, GA 30328	 	Atlanta, GA 30328
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Totals
	 	$	67,289,245.00	 	 	 	100	%	 	$	7,500,000.00	 	 	$	4,000,000	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 







 









 








SCHEDULE IV




	 	 	 
	A.

	 	6400 Shafer Court

Rosemont, IL
	 
	 	 
	B.

	 	9330 LBJ Freeway

Dallas, Texas
	 
	 	 
	C.

	 	Danbury Corporate Center

Danbury, Connecticut
	 
	 	 
	D.

	 	200 Galleria

200 Galleria Parkway

Atlanta, Georgia
	 
	 	 
	E.

	 	The Avallon

10415 and 10431 Morado Circle and 10814 Jollyville Road

Austin, Texas