JG Capital

A |B |C| D |E |F |G |H| I |J |L | M | N | O | P | Q | R | S | T |U | V | W

-S-

Security Gates - Identifies the number of security gates located on the property.

Self Storage - A general property type or building type classification characterized by its usage for self storage purposes (also called Mini-Storage); provides personal storage for lease by consumers.

Senior Housing - Identifies whether the property is occupied by senior citizens (age 55 or over).

Servicer - Institution acting for the benefit of the certificate holders in the administration and servicing of mortgage loans in the CMBS. Functions include reporting to the Trustee, collecting payments from borrowers, advancing funds for delinquent loans, negotiating workouts or restructures (as permitted by the PSA), taking defaulted loans through the foreclosure process, and liquidating defaulted loans and REO.

Sewage Adjacent - Identifies whether the property is located adjacent to a Sewage or Waste Treatment Facility.

Similar Residential Surrounding Land Use - Identifies the general land use of the surrounding and/or adjacent properties in comparison to the collateral property. Similar Residential includes residential dwellings similar to the collateral property.

Similar Retail Surrounding land Use - Identifies the general land use of the surrounding and/or adjacent properties in comparison to the collateral property. Similar Retail includes retail buildings similar to the collateral property.

Single Tenant Investment Grade - A Retail property subtype in which the property is net leased to one investment grade tenant (BBB- rating or higher) and the property is utilized for retail purposes.

Single Tenant Non-Investment Grade - A Retail property subtype in which the property is net leased to one non-investment grade tenant (BBB- rating or lower) and the property is utilized for retail purposes.

Some Paved - Road Surfaces - Identifies some of the road surfaces as being paved with macadam, concrete, cement or other similar surfacing.

Special Purpose Corporation - A bankruptcy-remote entity established by the borrower whose sole asset is the property of properties being financed. The SPC protects the lender from having the underlying property(ies) become involved in bankruptcy proceedings against other assets of the borrower of the property. Also known as SPE (Special Purpose Entity) with other than corporate owners.

Specialty Center - A Retail property subtype in which the property is occupied by the power center group (e.g. Sports Authority, Levitz Furniture to other "category killer" stores).

Sprinklered - Identifies whether all areas of the building are sprinklered; a sprinkler system is typically an automatic fire-suppression system with an audible alarm and that disperses an area with water or fire retardant from overhead sprinklers when excessive heat and/or smoke is detected. Fire systems are typically wet, dry or chemical systems. Expressed as a percentage.

Standard & Poor’s - Standard & Poor’s Rating Service is one of the four primary rating agencies and is a division of McGraw-Hill Companies, Inc.; referred to as S& P.

Strip Center - Anchored - A Retail property subtype in which the property is occupied by one or more anchor tenants and the main thoroughfares are bordered by an almost continuous row or strip of retail stores and allied service establishments; any shopping area that consists of a row of stores. An anchor tenant is a well-known commercial retail business such as a national chain store or regional department store strategically placed in a shopping center so as to generate the most amount of customers for all of the stores located in the shopping center; typical gross building area ranges from 50,000 to 100,000 square feet.

Strip Center - Unanchored - A Retail property subtype in which the property is occupied by multiple tenants of which none are anchor tenants, and the main thoroughfares are bordered by an almost continuous row or strip of retail stores and allied service establishments; any shopping area that consists of a row of stores. An anchor tenant is a well-known commercial retail business such as a national chain store or regional department store strategically placed in a shopping center so as to generate the most amount of customers for all of the stores located in the shopping center; typical gross building area ranges from 50,000 to 100,000 square feet.

Structure - Refers to the tax and legal structure of a CMBS such as a pass-through structure, a bond structure, a Collateralized Mortgage Obligation (CMO) or a Real Estate Mortgage Investment Conduit (REMIC). The “structure” can determine the tax benefits, or penalties, and the rights of the CMBS holders and the issuer in the event of a failure or default within the terms of the security. Most CMBS are senior/subordinated, multiple class passthroughs classified as REMICs.

Student Housing - A Multifamily subtype; a multifamily or multi-unit dwelling primarily occupied by students (e.g. college students).

Subject-To Conditions - Identifies the conditions or stipulations under which a loan may be assumed.

Subordinated Ground Lease - A lease in which rights of the lessor of the ground are junior to the rights of the holder of the first mortgage.

Suburban Garden Office - An Office subtype characterized by a garden-like setting and its location in a town or unincorporated developed area in a close proximity to a city. Suburbs, largely residential, are often dependent on the city for employment and support services; generally characterized by low-density development relative to the city; usually one to three story structures in a suburban or rural-urban fringe development.

Suburban High Rise - An Office subtype characterized typically by a high number of stories that requires an elevator and its locations in a town or unincorporated developed area in a close proximity to a city. Suburbs, largely residential, are often dependent on the city for employment and support services; generally characterized by low-density development relative to the city; usually a four-story or higher structure in a suburban or rural-urban fringe development.

Super-Regional Shopping Center - Enclosed shopping center of More than 800,000 square feet. Tenants: At least three anchor stores.

Superadequate - Ease of Ingress/Egress - Refers to an excellent degree of capacity to enter and exit a property. Superadequacy refers to a greater capacity or quality than a prudent purchaser or owner would include or would pay for under current similar market conditions.

Superadequate - Exterior Lighting - Refers to an excellent quality and amount of exterior building lighting or yard lighting.

Superadequate Truck Turnaround - Refers to an excellent degree of capacity and ability for tractor-trailers to maneuver on the property; based on the size and shape of the land. For example, an odd-shaped or odd-sized parcel of land may be appropriate for an office but may provide limited functionality for industrial loading and delivery. Superadequacy refers to a greater capacity or quality than a prudent purchaser or owner would include or would pay for under current similar market conditions.

Surrounding Land Use - Identifies the surrounding land use in comparison to the collateral property.