6-13-2008

Multi-Family Loan Programs > $3 Million

Agency Lenders Portfolio Lenders*
Term Leverage Max. Interest Rates Leverage Max. Interest Rates
5 Yr. 80% 6.36% to 6.51% 75% 5.95% to 6.25%
7 Yr. 80% 6.30% to 6.45% 75% 6.40% to 6.65%
10 Yr. 80% 6.40% to 6.60% 75% 6.55% to 6.85%
15 Yr. 80% 6.81% to 7.41% 75% 6.85% to 7.35%
*Rates based on Act/360
Multi-Family Loan Programs < $3 Million
Fixed Rate Agency Lenders Portfolio Lenders*
Term Leverage Max. Interest Rates Leverage Max. Interest Rates
3 Yr. 80% 6.24% to 6.68% 75% 5.80% to 6.25%
5 Yr. 80% 6.28% to 6.66% 75% 5.95% to 6.35%
7 Yr. 80% 6.23% to 6.53% 75% 6.40% to 6.65%
10 Yr. 80% 6.32% to 6.62% 75% 6.55% to 6.85%
15 Yr. 80% 6.88% to 7.79% 75% 6.85% to 7.35%
*Rates based on Act/360
Commercial Loan Programs
Fixed Rate Portfolio Lenders* Index Rates

Term Leverage Max. Interest Rates

as of 6/13/2008 5:45 p.m. ET
5-Year Treasury: 3.73%
5 Yr. 75% 6.15% to 6.40%
7 Yr. 75% 6.40% to 6.65% 10-Year Treasury: 4.26%
10 Yr. 75% 6.65% to 6.90% 5-Year Swap: 4.65%
15 Yr. 75% 6.95% to 7.45% 10-Year Swap: 4.95%
Bridge Floating Leverage Max. Spread Over Libor LIBOR: 3.26% Prime: 5.00%

Stabilized 75% 225 to 300

Re-Position 90% 275 to 350
(*Portfolio Lenders include Banks, Life Insurance Companies and Credit Unions)
Economic Commentary

Rates continued their upward climb with the 10-year U.S. Treasury
closing out the week at a yield of 4.26 percent, an increase of 32 basis
points since its close last Friday. Swaps also increased with the 10-year
swap at 4.96 percent and the 5-year swap at 4.65 percent. This swap
spread increase translates to an increase in fixed-term interest rates of
more than 50 basis points during the last two weeks. Many economists
speculate that the credit markets have stabilized over the past 90 days
with reduced concern about deepening recession driving the Fed’s focus
to containment of inflation which could prompt the Fed to increase rates.

Recent Transactions
780 Bradford 1735 E. Plaza Blvd. Woodcreek Lane 547 Glover Ave.
25-Unit Apartment Multi-Family 20-Unit apartment Multi-Family
Redwood City, CA National City, CA Woodinville, WA Chula Viista, CA
$1,780,000 $1,600,000 $1,450,000 $1,450,000
6.25% Interest rate 5.75% Interest rate 5.79% Interest rate 5.85% Interest rate
30-yr. Amort./10-yr. Term 30-yr. Amort./10-yr. Term 30-yr. Amort./3-yr. Term 30-yr. Amort./10-yr. Term

For more information, contact:

William Hughes
Senior Vice President/Managing Director
Newport Beach, CA
Office: (949) 851-3030
whughes@marcusmillichap.com

Terms, rates and conditions subject to change. www.MMCapCorp.com