The subject property is a freestanding Rite Aid Drugstore located in Morgan City, St. Mary’s Parish, Louisiana. The Property is encumbered with an assumable, fully-amortizing loan from Conseco Mortgage Capital with original terms of $1,650,000 with a fixed interest rate of 7.25%, amortized and due in November 2018. The loan is currently reducing principle by $81,000. Annual debt payments are $157,679, leaving cash flow of $19,281. Together with 1st year principal reduction of $81,000, the total return to the investor is $104,758. Traffic generators in the area are Wal-Mart, Dollar General, Movie Gallery, McDonald’s, Ryan’s Steakhouse, Burger King, Popeye’s Chicken and St. Mary Hospital. Morgan City sits on the banks of the Atchafalaya River and is located approx. 70 miles west of New Orleans, 60 miles south of Baton Rouge and 60 miles east of Lafayette on scenic Highway 90. Much of the economy is based on fishing (jumbo shrimp) and energy (petroleum).

Tenant: Rite Aid Corporation
Rite Aid Corporation (NYSE - “RAD”) is one of the nation’s leading drugstore chains, combining its modern store base, strong brand name, modern distribution centers and superior pharmacy technology with a talented team of approximately 113,000 associates serving customers in 31 states and the District of Columbia. Rite Aid currently operates more than 5,000 stores, reporting total sales of approximately $17.5 billion at the end of its 2007 fiscal year. Rite recently acquired Brooks Pharmacies and Eckerd Drigstores. EBITDA for 2007 is $697 million.

Existing Assumable Loan Information
In 1999, the Seller obtained a First loan from Conseco Mortgage Capital, Inc. with the following original terms: $1,650,000 with a fixed rate 7.25%, fully liquidating 20/20. The loan carries a yield maintenance pre-payment penalty. The Buyer shall assume the existing non-recourse debt of approx. $1,012,433 (February 2009). Annual debt service is $157,679 leaving cash flow of $19,281. At the end of the primary lease term, all debt will be retired and the cash flow will be $188,020.