Preview
1 RYAN C. BAKER, RECEIVER
DOUGLAS WILSON COMPANIES 07/15/2020
2 19200 Von Karman Avenue, Suite 416
Irvine, CA 92612
3 Tel: 213.550.2242
Fax: 619.641.1150
4 Email: rbaker@douglaswilson.com
5
6
7
8 SUPERIOR COURT OF CALIFORNIA
9 COUNTY OF PLACER
10
11 U.S. BANK NATIONAL ASSOCIATION, CASE NO. SCV0042662
as Trustee, as successor-in-interest to Bank
12 of America, N.A., as Trustee, as successor by
merger to LaSalle Bank National Hon. Charles D. Wachob
13 Association, as Trustee, for the registered Dept.: 42
holders of Bear Stearns Commercial
14 Mortgage Securities Inc., Commercial
Mortgage Pass-Through Certificates, Series RECEIVER’S STATUS REPORT NO. 12
15 2006-PWR13,
16 Plaintiff,
17 vs.
18 BEL AIR SUNRISE/ROSEVILLE
CENTER, LLC, a California limited liability
19 company; and DOES 1-50, inclusive,
20 Defendants.
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1
RECEIVER’S STATUS REPORT NO. 12
1 Ryan C. Baker (the “Receiver”) hereby submits this Receiver’s status report (the “Report”)
2 in accordance with the Order Appointing Receiver (the “Order”) dated July 18, 2019 and entered
3 in the above-entitled matter. This Report is organized into the following three sections: I.
4 Background Information, II. Receivership Activities, and III. Accounting and Fees.
5 I. BACKGROUND INFORMATION
6 1. Appointment of Receiver: On July 18, 2019, the Superior Court of California,
7 County of Placer, ordered the appointment of Ryan C. Baker as Receiver to take possession of the
8 property commonly known as 1079 Sunrise Avenue and 1200 Cirby Way, Roseville, California
9 95661 (the “Property”). The Receiver took formal control of the Property on July 22, 2019.
10 2. Purpose of the Receivership: The purpose of the Receivership, as outlined in the
11 Order, is to oversee the Property, pay bills related to the Property, attempt to lease vacant spaces,
12 maintain the Property and address any other onsite issues.
13 II. RECEIVERSHIP ACTIVITIES
14 3. Update on Disruptions Caused by COVID-19: On July 13, 2020, Governor Gavin
15 Newsom ordered the re-closure of certain businesses in 29 counties, including Placer County—
16 which directly affects tenants of the Property. The closure may again negatively impact operations
17 and thus rent collections from certain tenants. This is a recent development and the Receiver will
18 continue to monitor the situation closely with any additional updates being incorporated into the
19 next monthly report. The Receiver and his property manager, GRE Management Services
20 (“GRE”), will continue to communicate frequently with tenants to limit any issues or disruptions.
21 4. Tenants and Leasing Activity: The Receiver is in negotiations with a new potential
22 tenant that would be occupying currently vacant space in unit 1200-D at 1039 Sunrise Avenue. The
23 proposed tenant would provide pet grooming services and improve the unfavorable vacancy rate at
24 the Property. As previously noted, the current climate is not perfect for commercial retail leasing
25 activity. However, there does continue to be some leasing activity at the Property at market rates
26 as informed by the Receiver’s leasing brokers. Recently, the Receiver signed a lease with Diamond
27 Blade Barber Studio as well as Top Coat Nail Spa—both replacing tenants that were leaving the
28 center. The Receiver has been focused on stabilizing the Property during this difficult time and
2
RECEIVER’S STATUS REPORT NO. 12
1 improving occupancy rates and cash flows.
2 Unfortunately, the tenant Himalayan Hub, an Indian food restaurant, indicated it would not
3 be able to survive the COVID-19 pandemic and had to shutter operations. The Receiver
4 investigated potential recoveries from the tenant in light of the early termination of its lease;
5 however, given that the potential for recovery was small and costs associated with the endeavor
6 were high, it was determined a settlement was in the best interest of the estate. Therefore, the
7 Receiver accepted a $10,000.00 payment from the tenant to release it from its future rent obligations
8 and for the tenant to turn back over possession of the unit in good condition. The Receiver informed
9 both Defendant and Plaintiff of this approach and there were no objections.
10 III. ACCOUNTING AND FEES
11 5. Accounting: Attached as Exhibit “A” is a copy of financial statements prepared by
12 GRE related to the Receivership Estate. For the month of June 2020, the Receivership Estate had
13 cash receipts of $44,756.90. These receipts were solely comprised of rent and property expense
14 reimbursements. The Receivership Estate had disbursements of $26,070.62. These disbursements
15 were comprised of Receiver’s May 2020 fees ($6,721.95), utilities ($5,133.60), general repairs and
16 maintenance ($4,814.54), property management fee ($3,500.00), a move-out reimbursement to S
17 Lounge ($3,250.00), legal fees related to leasing and tenants ($1,360.00), and a payment to the
18 State Water Board related to environmental remediation efforts ($1,290.53). The Receivership had
19 a cash balance of $113,260.60 as of June 30, 2020.
20 6. Receiver’s Fees and Costs: Attached as Exhibit “B” is a copy of the Receiver’s
21 June 2020 fee statement. During the month, the Receiver’s fees and reimbursable expenses totaled
22 $6,392.50. The attached billing statement is hereby noticed to the parties.
23
24 DATED: July 15, 2020
25
RYAN C. BAKER
26
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RECEIVER’S STATUS REPORT NO. 12
EXHIBIT A
MONTHLY FINANCIAL REPORT
BEL AIR SUNRISE ROSEVILLE CENTER
June 2020 – CASH BASIS
REPORT INCLUDES:
Financial Statements
1. Budget Comparison/Narrative Variance (separate excel file)
2. Cash Flow Summary
3. Income Statement
4. Trailing Income Statement
5. General Ledger
Lease Information
6. Rent Roll
7. Tenant Gross Sales
Accounts Receivable
8. Aged Accounts Receivable Detail
9. Income Register
Accounts Payable
10. Aged Payable Detail
11. Check Register
Supporting Documents
12. Bank Reconciliations
13. Bank Statements
14. Management Fee
GRE Management Services, Inc
CASH FLOW SUMMARY
BEL AIR SUNRISE ROSEVILLE CENTER
June 2020
WELLS FARGO OPERATING ACCOUNT:
PREVIOUS MONTH CASH BALANCE $ 94,574.32
ADD: Total Tenant Cash Receipts $ 44,756.90
ADD: Tenant Deposits
ADD: Clearing-Tenant Deposits $ -
TOTAL $ 44,756.90
LESS: Expense Disbursements $ 22,820.62
LESS: Move out Refund $ 3,250.00
TOTAL $ 26,070.62
NET CASH FLOW FOR MONTH $ 18,686.28
END OF MONTH CASH BALANCE $ 113,260.60
COMBINED PREVIOUS MONTH CASH BALANCES $ 94,574.32
COMBINED END OF MONTH CASH BALANCES $ 113,260.60
COMBINED NET CASH FLOW FOR THE MONTH $ 18,686.28
7/8/2020 2:59 PM
Bel Air Sunrise Roseville Center (bel)
Income Statement
Period = Jun 2020
Book = Cash
Period to Date % Year to Date %
4010-0000 INCOME
4100-0000 RENT INCOME
4500-0000 Rent 35,343.65 72.50 248,723.12 78.12
4500-0010 Prepaid Rent Income 2,911.62 5.97 924.66 0.29
4500-0015 Less: Concession -2,107.68 -4.32 -24,083.34 -7.56
4500-9999 NET RENT INCOME 36,147.59 74.15 225,564.44 70.85
4503-0000 OTHER RENTS PROPERTY
4503-0060 Miscellaneous Reimbursements 0.00 0.00 649.00 0.20
4503-9999 TOTAL OTHER RENTS PROPERTY 0.00 0.00 649.00 0.20
5100-0000 EXPENSE REIMBURSEMENT
5100-0045 Estimated CAM Charges 8,049.05 16.51 59,585.04 18.72
5100-0050 Passthru Property Tax 3,655.09 7.50 24,972.11 7.84
5100-0055 Passthru Insurance 900.17 1.85 5,906.96 1.86
5100-0110 PY Operating Expense Rec 0.00 0.00 -108.50 -0.03
5100-9999 TOTAL EXPENSE REIMBURSEMENT 12,604.31 25.85 90,355.61 28.38
5600-0000 OTHER INCOME
5600-0040 Late Fee 0.00 0.00 1,803.38 0.57
5600-9999 TOTAL OTHER INCOME 0.00 0.00 1,803.38 0.57
5990-0000 TOTAL INCOME 48,751.90 100.00 318,372.43 100.00
6000-0000 EXPENSES
6175-0000 LANDSCAPE SERVICES
6175-0010 Ext. Landscape Contract 1,203.00 2.47 7,931.56 2.49
6175-9999 TOTAL LANDSCAPE SERVICES 1,203.00 2.47 7,931.56 2.49
6200-0000 HVAC MAINTENANCE
6200-0010 HVAC Service Contract 580.00 1.19 1,160.00 0.36
6200-9999 TOTAL HVAC MAINTENANCE 580.00 1.19 1,160.00 0.36
6250-0000 SECURITY/LIFE SAFETY
6250-0010 Fire Alarm Monitoring 0.00 0.00 425.00 0.13
6250-0025 Security Monitoring 0.00 0.00 687.62 0.22
6250-9999 TOTAL SECURITY/LIFE SAFETY 0.00 0.00 1,112.62 0.35
6275-0000 GROUND & LOT
6275-0010 Parking Lot 0.00 0.00 1,275.00 0.40
6275-0020 Parking lot Sweeping 807.00 1.66 5,731.87 1.80
6275-0060 Extermination 88.00 0.18 528.00 0.17
6275-0070 Parking Lot Lighting Contract 538.72 1.10 1,167.50 0.37
6275-0135 Power Washing 525.00 1.08 1,770.00 0.56
6275-0140 Grounds Pick Up 604.00 1.24 4,464.24 1.40
6275-9999 TOTAL GROUND & LOT 2,562.72 5.26 14,936.61 4.69
6300-0000 GENERAL REPAIR & MAINTENANCE
6300-0050 Exterior Lighting 333.82 0.68 1,124.77 0.35
6300-0080 Misc. R&M 0.00 0.00 1,435.00 0.45
6300-0110 Roof 0.00 0.00 3,868.00 1.21
6300-9999 TOTAL GENERAL REPAIR & MAINTENANCE 333.82 0.68 6,427.77 2.02
6350-0000 MANAGEMENT FEES
6350-0010 Management Fees 3,500.00 7.18 21,000.00 6.60
6350-9999 TOTAL MANAGEMENT FEES 3,500.00 7.18 21,000.00 6.60
6425-0000 UTILITIES
6425-0020 Electricity-Building Only 187.55 0.38 1,718.80 0.54
6425-0025 Electricity-Parking Lot 273.14 0.56 1,918.05 0.60
6425-0040 Water & Sewer 408.22 0.84 3,017.42 0.95
Page 1 of 2
7/8/2020 2:59 PM
Bel Air Sunrise Roseville Center (bel)
Income Statement
Period = Jun 2020
Book = Cash
Period to Date % Year to Date %
6425-0045 Irrigation 248.31 0.51 906.16 0.28
6425-0060 Trash Disposal 2,726.42 5.59 14,734.27 4.63
6425-0090 Sewer 503.34 1.03 4,794.26 1.51
6425-9999 TOTAL UTILITIES 4,346.98 8.92 27,088.96 8.51
6450-0000 REAL ESTATE TAXES
6450-0020 Property Tax: Real Estate Property 0.00 0.00 44,800.56 14.07
6450-9999 TOTAL REAL ESTATE TAXES 0.00 0.00 44,800.56 14.07
6475-0000 INSURANCE
6475-0010 Insurance - General Liability 0.00 0.00 243.02 0.08
6475-9999 TOTAL INSURANCE 0.00 0.00 243.02 0.08
6500-9999 TOTAL OPERATING EXPENSES 12,526.52 25.69 124,701.10 39.17
6501-9999 NET OPERATING INCOME 36,225.38 74.31 193,671.33 60.83
7000-0000 NON-RECOVERABLE EXPENSES
7025-0000 MISC. NON-RECOVERABLE EXP.
7025-0011 Credit Check Fees 0.00 0.00 230.00 0.07
7025-0015 Receiver Fees 6,721.95 13.79 32,549.88 10.22
7025-0045 R&M-Unrecoverable 135.00 0.28 1,535.58 0.48
7025-0049 Utilities-Unrecoverable 786.62 1.61 5,808.20 1.82
7025-0085 Reimbursable PM Charges 0.00 0.00 131.76 0.04
7025-0135 Performance Bond 0.00 0.00 600.00 0.19
7025-9999 TOTAL MISC. NON-RECOVERABLE EXP. 7,643.57 15.68 40,855.42 12.83
7635-0000 PROFESSIONAL FEES
7635-0040 Professional Fees:Legal Fees 0.00 0.00 2,752.99 0.86
7635-0050 Professional Fees:Professional/Consulting 1,290.53 2.65 125,477.38 39.41
7635-9999 TOTAL PROFESSIONAL FEES 1,290.53 2.65 128,230.37 40.28
7990-0000 TOTAL NON-RECOVERABLE EXPENSES 8,934.10 18.33 169,085.79 53.11
8600-0000 OTHER EXPENSES
8600-0030 Bad Debts 0.00 0.00 28,059.30 8.81
8600-9999 TOTAL OTHER EXPENSES 0.00 0.00 28,059.30 8.81
8990-0000 TOTAL NON-OPERATING EXPENSES 8,934.10 18.33 197,145.09 61.92
9090-0000 TOTAL NET INCOME 27,291.28 55.98 -3,473.76 -1.09
Page 2 of 2
7/8/2020 2:56 PM
Bel Air Sunrise Roseville Center (bel)
Statement (12 months)
Period = Jul 2019-Jun 2020
Book = Cash ; Tree = ysi_cf
Jul 2019 Aug 2019 Sep 2019 Oct 2019 Nov 2019 Dec 2019 Jan 2020 Feb 2020 Mar 2020 Apr 2020 May 2020 Jun 2020 Total
4010-0000 INCOME
4100-0000 RENT INCOME
4500-0000 Rent 33,682.36 40,722.36 43,552.36 53,452.90 46,270.90 48,638.28 42,389.36 47,907.65 56,315.00 32,953.61 33,813.85 35,343.65 515,042.28
4500-0010 Prepaid Rent Income 4,060.46 2,079.78 -2,352.17 8,858.58 -2,664.16 -134.68 2,394.45 -815.51 -2,005.33 -6,899.23 5,338.66 2,911.62 10,772.47
4500-0015 Less: Concession 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -18,425.50 -3,550.16 -2,107.68 -24,083.34
4500-9999 NET RENT INCOME 37,742.82 42,802.14 41,200.19 62,311.48 43,606.74 48,503.60 44,783.81 47,092.14 54,309.67 7,628.88 35,602.35 36,147.59 501,731.41
4503-0000 OTHER RENTS PROPERTY
4503-0060 Miscellaneous Reimbursements 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 649.00 0.00 0.00 0.00 649.00
4503-9999 TOTAL OTHER RENTS PROPERTY 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 649.00 0.00 0.00 0.00 649.00
5001-0000 FEE INCOME
5001-0002 Asset Management Fees -876.26 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -876.26
5001-9999 TOTAL FEE INCOME -876.26 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -876.26
5100-0000 EXPENSE REIMBURSEMENT
5100-0045 Estimated CAM Charges 9,141.62 7,834.57 13,602.80 11,424.45 10,912.84 10,924.52 12,658.42 13,841.68 11,360.41 6,642.80 7,032.68 8,049.05 123,425.84
5100-0050 Passthru Property Tax 2,773.66 2,825.63 3,414.66 3,553.10 3,521.28 3,524.85 4,090.60 6,141.21 4,673.30 3,209.03 3,202.88 3,655.09 44,585.29
5100-0055 Passthru Insurance 621.20 289.10 568.46 1,113.77 703.78 999.03 782.94 1,444.05 939.98 1,108.58 731.24 900.17 10,202.30
5100-0110 PY Operating Expense Rec -54.49 0.00 134.68 -2,125.68 0.00 -1,187.99 0.00 -108.50 0.00 0.00 0.00 0.00 -3,341.98
5100-9999 TOTAL EXPENSE REIMBURSEMENT 12,481.99 10,949.30 17,720.60 13,965.64 15,137.90 14,260.41 17,531.96 21,318.44 16,973.69 10,960.41 10,966.80 12,604.31 174,871.45
5600-0000 OTHER INCOME
5600-0030 Miscellaneous Income 479.77 0.00 -0.25 -926.73 0.00 -318.29 0.00 0.00 0.00 0.00 0.00 0.00 -765.50
5600-0040 Late Fee 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1,803.38 0.00 0.00 0.00 0.00 1,803.38
5600-9999 TOTAL OTHER INCOME 479.77 0.00 -0.25 -926.73 0.00 -318.29 0.00 1,803.38 0.00 0.00 0.00 0.00 1,037.88
5990-0000 TOTAL INCOME 49,828.32 53,751.44 58,920.54 75,350.39 58,744.64 62,445.72 62,315.77 70,213.96 71,932.36 18,589.29 46,569.15 48,751.90 677,413.48
6100-0000 OPERATING EXPENSES
6175-0000 LANDSCAPE SERVICES
6175-0010 Ext. Landscape Contract 1,203.00 6,940.70 0.00 2,406.00 1,203.00 3,243.00 1,916.56 1,203.00 1,203.00 1,203.00 1,203.00 1,203.00 22,927.26
6175-9999 TOTAL LANDSCAPE SERVICES 1,203.00 6,940.70 0.00 2,406.00 1,203.00 3,243.00 1,916.56 1,203.00 1,203.00 1,203.00 1,203.00 1,203.00 22,927.26
6200-0000 HVAC MAINTENANCE
6200-0010 HVAC Service Contract 580.00 0.00 0.00 0.00 580.00 0.00 0.00 580.00 0.00 0.00 0.00 580.00 2,320.00
6200-9999 TOTAL HVAC MAINTENANCE 580.00 0.00 0.00 0.00 580.00 0.00 0.00 580.00 0.00 0.00 0.00 580.00 2,320.00
6250-0000 SECURITY/LIFE SAFETY
Page 1 of 4
7/8/2020 2:56 PM
Bel Air Sunrise Roseville Center (bel)
Statement (12 months)
Period = Jul 2019-Jun 2020
Book = Cash ; Tree = ysi_cf
Jul 2019 Aug 2019 Sep 2019 Oct 2019 Nov 2019 Dec 2019 Jan 2020 Feb 2020 Mar 2020 Apr 2020 May 2020 Jun 2020 Total
6250-0010 Fire Alarm Monitoring 0.00 600.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 425.00 0.00 0.00 1,025.00
6250-0025 Security Monitoring 0.00 321.00 0.00 0.00 321.00 0.00 0.00 366.62 0.00 0.00 321.00 0.00 1,329.62
6250-9999 TOTAL SECURITY/LIFE SAFETY 0.00 921.00 0.00 0.00 321.00 0.00 0.00 366.62 0.00 425.00 321.00 0.00 2,354.62
6275-0000 GROUND & LOT
6275-0010 Parking Lot 0.00 0.00 0.00 0.00 0.00 0.00 1,275.00 0.00 0.00 0.00 0.00 0.00 1,275.00
6275-0020 Parking lot Sweeping 1,150.00 2,300.00 0.00 2,300.00 2,271.00 1,121.00 1,121.00 1,121.00 1,121.00 754.87 807.00 807.00 14,873.87
6275-0060 Extermination 120.00 60.00 120.00 60.00 148.00 88.00 88.00 88.00 88.00 88.00 88.00 88.00 1,124.00
6275-0070 Parking Lot Lighting Contract 808.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 628.78 538.72 1,975.50
6275-0135 Power Washing 900.00 0.00 0.00 600.00 415.00 415.00 415.00 415.00 415.00 0.00 0.00 525.00 4,100.00
6275-0140 Grounds Pick Up 837.00 837.00 837.00 837.00 898.00 898.00 898.00 898.00 898.00 562.24 604.00 604.00 9,608.24
6275-9999 TOTAL GROUND & LOT 3,815.00 3,197.00 957.00 3,797.00 3,732.00 2,522.00 3,797.00 2,522.00 2,522.00 1,405.11 2,127.78 2,562.72 32,956.61
6300-0000 GENERAL REPAIR & MAINTENANCE
6300-0050 Exterior Lighting 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 790.95 333.82 1,124.77
6300-0080 Misc. R&M 0.00 385.00 0.00 350.00 3,267.00 0.00 1,435.00 0.00 0.00 0.00 0.00 0.00 5,437.00
6300-0110 Roof 0.00 0.00 0.00 0.00 0.00 0.00 1,815.00 537.00 0.00 1,516.00 0.00 0.00 3,868.00
6300-9999 TOTAL GENERAL REPAIR & MAINTENANCE 0.00 385.00 0.00 350.00 3,267.00 0.00 3,250.00 537.00 0.00 1,516.00 790.95 333.82 10,429.77
6350-0000 MANAGEMENT FEES
6350-0010 Management Fees 1,199.74 0.00 5,250.00 3,500.00 3,500.00 3,500.00 3,500.00 3,500.00 3,500.00 3,500.00 3,500.00 3,500.00 37,949.74
6350-9999 TOTAL MANAGEMENT FEES 1,199.74 0.00 5,250.00 3,500.00 3,500.00 3,500.00 3,500.00 3,500.00 3,500.00 3,500.00 3,500.00 3,500.00 37,949.74
6425-0000 UTILITIES
6425-0020 Electricity-Building Only 0.00 415.32 378.67 423.50 360.55 352.85 374.69 429.12 304.40 221.82 201.22 187.55 3,649.69
6425-0025 Electricity-Parking Lot 654.52 332.18 302.62 354.36 324.71 324.80 346.64 391.67 324.59 310.31 271.70 273.14 4,211.24
6425-0040 Water & Sewer 563.94 564.41 561.62 585.02 557.72 530.42 527.82 577.22 514.82 562.92 426.42 408.22 6,380.55
6425-0045 Irrigation 394.47 467.10 492.71 418.61 354.91 314.61 163.81 123.51 123.51 123.51 123.51 248.31 3,348.57
6425-0060 Trash Disposal 2,432.56 2,191.43 2,223.74 2,424.93 2,567.18 2,572.53 2,572.53 2,275.10 1,938.16 2,557.09 2,664.97 2,726.42 29,146.64
6425-0090 Sewer 959.16 965.34 982.42 1,055.50 970.24 884.98 876.86 1,031.14 836.26 986.48 560.18 503.34 10,611.90
6425-9999 TOTAL UTILITIES 5,004.65 4,935.78 4,941.78 5,261.92 5,135.31 4,980.19 4,862.35 4,827.76 4,041.74 4,762.13 4,248.00 4,346.98 57,348.59
6450-0000 REAL ESTATE TAXES
6450-0020 Property Tax: Real Estate Property 0.00 0.00 0.00 0.00 44,800.56 0.00 0.00 0.00 0.00 44,800.56 0.00 0.00 89,601.12
6450-9999 TOTAL REAL ESTATE TAXES 0.00 0.00 0.00 0.00 44,800.56 0.00 0.00 0.00 0.00 44,800.56 0.00 0.00 89,601.12
6475-0000 INSURANCE
6475-0010 Insurance - General Liability 77.67 0.00 1,764.00 77.67 18,740.00 268.00 243.02 0.00 0.00 0.00 0.00 0.00 21,170.36
6475-9999 TOTAL INSURANCE 77.67 0.00 1,764.00 77.67 18,740.00 268.00 243.02 0.00 0.00 0.00 0.00 0.00 21,170.36
6500-9999 TOTAL OPERATING EXPENSES 11,880.06 16,379.48 12,912.78 15,392.59 81,278.87 14,513.19 17,568.93 13,536.38 11,266.74 57,611.80 12,190.73 12,526.52 277,058.07
Page 2 of 4
7/8/2020 2:56 PM
Bel Air Sunrise Roseville Center (bel)
Statement (12 months)
Period = Jul 2019-Jun 2020
Book = Cash ; Tree = ysi_cf
Jul 2019 Aug 2019 Sep 2019 Oct 2019 Nov 2019 Dec 2019 Jan 2020 Feb 2020 Mar 2020 Apr 2020 May 2020 Jun 2020 Total
6501-9999 NET OPERATING INCOME 37,948.26 37,371.96 46,007.76 59,957.80 -22,534.23 47,932.53 44,746.84 56,677.58 60,665.62 -39,022.51 34,378.42 36,225.38 400,355.41
7000-0000 NON-RECOVERABLE EXPENSES
7025-0000 MISC. NON-RECOVERABLE EXP.
7025-0011 Credit Check Fees 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 165.00 0.00 65.00 0.00 230.00
7025-0015 Receiver Fees 0.00 0.00 4,351.00 4,135.00 6,409.13 11,071.88 4,370.16 4,098.53 0.00 10,173.67 7,185.57 6,721.95 58,516.89
7025-0030 Tenant Reimbursable Expense 0.00 0.00 0.00 649.00 140.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 789.00
7025-0045 R&M-Unrecoverable 0.00 510.11 0.00 0.00 0.00 60.32 0.00 1,200.24 0.00 0.00 200.34 135.00 2,106.01
7025-0049 Utilities-Unrecoverable 2,570.52 2,432.54 951.62 301.80 1,702.49 2,395.72 1,413.70 333.84 504.99 788.86 1,980.19 786.62 16,162.89
7025-0080 Admin & Bank Fees 30.00 -0.12 30.00 30.00 30.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 119.88
7025-0083 Permits, Licenses & Fees 0.00 70.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 70.00
7025-0085 Reimbursable PM Charges 0.00 0.00 0.00 62.80 0.00 0.00 0.00 54.70 17.86 0.00 59.20 0.00 194.56
7025-0135 Performance Bond 0.00 620.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 600.00 0.00 1,220.00
7025-9999 TOTAL MISC. NON-RECOVERABLE EXP. 2,600.52 3,632.53 5,332.62 5,178.60 8,281.62 13,527.92 5,783.86 5,687.31 687.85 10,962.53 10,090.30 7,643.57 79,409.23
7635-0000 PROFESSIONAL FEES
7635-0010 Professional Fees:Accounting 4,600.00 7,625.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 12,225.00
7635-0031 Professional Fees:Consulting:Yardi/Marketing/Regs
0.00 0.00 0.00 1,000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1,000.00
7635-0040 Professional Fees:Legal Fees 17,500.00 0.00 0.00 0.00 1,209.00 2,206.00 2,062.99 690.00 0.00 0.00 0.00 0.00 23,667.99
7635-0050 Professional Fees:Professional/Consulting 0.00 164.86 18,559.26 12,911.10 0.00 13,136.76 0.00 31,152.85 0.00 18,770.00 74,264.00 1,290.53 170,249.36
7635-9999 TOTAL PROFESSIONAL FEES 22,100.00 7,789.86 18,559.26 13,911.10 1,209.00 15,342.76 2,062.99 31,842.85 0.00 18,770.00 74,264.00 1,290.53 207,142.35
7990-0000 TOTAL NON-RECOVERABLE EXPENSES 24,700.52 11,422.39 23,891.88 19,089.70 9,490.62 28,870.68 7,846.85 37,530.16 687.85 29,732.53 84,354.30 8,934.10 286,551.58
8000-0000 DEPRECIATION EXPENSE
8110-0000 Depreciation-Building 9,436.08 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 9,436.08
8250-0002 Amortization Expense 2,153.15 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2,153.15
8390-0000 TOTAL DEPRECIATION EXPENSE 11,589.23 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 11,589.23
8600-0000 OTHER EXPENSES
8600-0030 Bad Debts 0.00 0.00 0.00 0.00 0.00 0.00 0.00 28,059.30 0.00 0.00 0.00 0.00 28,059.30
8600-9999 TOTAL OTHER EXPENSES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 28,059.30 0.00 0.00 0.00 0.00 28,059.30
8990-0000 TOTAL NON-OPERATING EXPENSES 36,289.75 11,422.39 23,891.88 19,089.70 9,490.62 28,870.68 7,846.85 65,589.46 687.85 29,732.53 84,354.30 8,934.10 326,200.11
9090-0000 TOTAL NET INCOME 1,658.51 25,949.57 22,115.88 40,868.10 -32,024.85 19,061.85 36,899.99 -8,911.88 59,977.77 -68,755.04 -49,975.88 27,291.28 74,155.30
ADJUSTMENTS
1301-0000 Accounts Receivable -12,882.43 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -12,882.43
Page 3 of 4
7/8/2020 2:56 PM
Bel Air Sunrise Roseville Center (bel)
Statement (12 months)
Period = Jul 2019-Jun 2020
Book = Cash ; Tree = ysi_cf
Jul 2019 Aug 2019 Sep 2019 Oct 2019 Nov 2019 Dec 2019 Jan 2020 Feb 2020 Mar 2020 Apr 2020 May 2020 Jun 2020 Total
1301-0005 A/R Tenant Billbacks 0.00 0.00 0.00 -140.00 140.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
1315-0000 A/R - Other 0.00 0.00 0.00 -112.67 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -112.67
1400-0175 Intercompany: Master Servicer 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 44,800.56 0.00 0.00 44,800.56
1800-0025 Accum Depr - Building 9,436.08 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 9,436.08
1800-0030 Improvements - Buildings -787.56 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -787.56
1800-0055 Accum Deprec. Tenant Allowance 633.89 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 633.89
1800-0056 Lease Commissions 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -4,449.60 0.00 -4,449.60
1800-0057 Accum Amort - Lease Comm -5,112.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -5,112.00
1800-0076 Leasing Legal 0.00 0.00 0.00 0.00 -2,000.00 0.00 0.00 0.00 0.00 -400.00 -96.00 -1,360.00 -3,856.00
1850-0005 Accumulated Amortization 2,306.82 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2,306.82
2250-0000 Tenant Deposits 0.00 0.00 0.00 0.00 0.00 0.00 -2,650.00 0.00 0.00 0.00 290.00 -7,245.00 -9,605.00
3820-0000 Suspense -7,567.61 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -7,567.61
TOTAL ADJUSTMENTS -13,972.81 0.00 0.00 -252.67 -1,860.00 0.00 -2,650.00 0.00 0.00 44,400.56 -4,2
Preview
1 RYAN C. BAKER, RECEIVER DOUGLAS WILSON COMPANIES 07/15/2020 2 19200 Von Karman Avenue, Suite 416 Irvine, CA 92612 3 Tel: 213.550.2242 Fax: 619.641.1150 4 Email: rbaker@douglaswilson.com 5 6 7 8 SUPERIOR COURT OF CALIFORNIA 9 COUNTY OF PLACER 10 11 U.S. BANK NATIONAL ASSOCIATION, CASE NO. SCV0042662 as Trustee, as successor-in-interest to Bank 12 of America, N.A., as Trustee, as successor by merger to LaSalle Bank National Hon. Charles D. Wachob 13 Association, as Trustee, for the registered Dept.: 42 holders of Bear Stearns Commercial 14 Mortgage Securities Inc., Commercial Mortgage Pass-Through Certificates, Series RECEIVER’S STATUS REPORT NO. 12 15 2006-PWR13, 16 Plaintiff, 17 vs. 18 BEL AIR SUNRISE/ROSEVILLE CENTER, LLC, a California limited liability 19 company; and DOES 1-50, inclusive, 20 Defendants. 21 22 23 24 25 26 27 28 1 RECEIVER’S STATUS REPORT NO. 12 1 Ryan C. Baker (the “Receiver”) hereby submits this Receiver’s status report (the “Report”) 2 in accordance with the Order Appointing Receiver (the “Order”) dated July 18, 2019 and entered 3 in the above-entitled matter. This Report is organized into the following three sections: I. 4 Background Information, II. Receivership Activities, and III. Accounting and Fees. 5 I. BACKGROUND INFORMATION 6 1. Appointment of Receiver: On July 18, 2019, the Superior Court of California, 7 County of Placer, ordered the appointment of Ryan C. Baker as Receiver to take possession of the 8 property commonly known as 1079 Sunrise Avenue and 1200 Cirby Way, Roseville, California 9 95661 (the “Property”). The Receiver took formal control of the Property on July 22, 2019. 10 2. Purpose of the Receivership: The purpose of the Receivership, as outlined in the 11 Order, is to oversee the Property, pay bills related to the Property, attempt to lease vacant spaces, 12 maintain the Property and address any other onsite issues. 13 II. RECEIVERSHIP ACTIVITIES 14 3. Update on Disruptions Caused by COVID-19: On July 13, 2020, Governor Gavin 15 Newsom ordered the re-closure of certain businesses in 29 counties, including Placer County— 16 which directly affects tenants of the Property. The closure may again negatively impact operations 17 and thus rent collections from certain tenants. This is a recent development and the Receiver will 18 continue to monitor the situation closely with any additional updates being incorporated into the 19 next monthly report. The Receiver and his property manager, GRE Management Services 20 (“GRE”), will continue to communicate frequently with tenants to limit any issues or disruptions. 21 4. Tenants and Leasing Activity: The Receiver is in negotiations with a new potential 22 tenant that would be occupying currently vacant space in unit 1200-D at 1039 Sunrise Avenue. The 23 proposed tenant would provide pet grooming services and improve the unfavorable vacancy rate at 24 the Property. As previously noted, the current climate is not perfect for commercial retail leasing 25 activity. However, there does continue to be some leasing activity at the Property at market rates 26 as informed by the Receiver’s leasing brokers. Recently, the Receiver signed a lease with Diamond 27 Blade Barber Studio as well as Top Coat Nail Spa—both replacing tenants that were leaving the 28 center. The Receiver has been focused on stabilizing the Property during this difficult time and 2 RECEIVER’S STATUS REPORT NO. 12 1 improving occupancy rates and cash flows. 2 Unfortunately, the tenant Himalayan Hub, an Indian food restaurant, indicated it would not 3 be able to survive the COVID-19 pandemic and had to shutter operations. The Receiver 4 investigated potential recoveries from the tenant in light of the early termination of its lease; 5 however, given that the potential for recovery was small and costs associated with the endeavor 6 were high, it was determined a settlement was in the best interest of the estate. Therefore, the 7 Receiver accepted a $10,000.00 payment from the tenant to release it from its future rent obligations 8 and for the tenant to turn back over possession of the unit in good condition. The Receiver informed 9 both Defendant and Plaintiff of this approach and there were no objections. 10 III. ACCOUNTING AND FEES 11 5. Accounting: Attached as Exhibit “A” is a copy of financial statements prepared by 12 GRE related to the Receivership Estate. For the month of June 2020, the Receivership Estate had 13 cash receipts of $44,756.90. These receipts were solely comprised of rent and property expense 14 reimbursements. The Receivership Estate had disbursements of $26,070.62. These disbursements 15 were comprised of Receiver’s May 2020 fees ($6,721.95), utilities ($5,133.60), general repairs and 16 maintenance ($4,814.54), property management fee ($3,500.00), a move-out reimbursement to S 17 Lounge ($3,250.00), legal fees related to leasing and tenants ($1,360.00), and a payment to the 18 State Water Board related to environmental remediation efforts ($1,290.53). The Receivership had 19 a cash balance of $113,260.60 as of June 30, 2020. 20 6. Receiver’s Fees and Costs: Attached as Exhibit “B” is a copy of the Receiver’s 21 June 2020 fee statement. During the month, the Receiver’s fees and reimbursable expenses totaled 22 $6,392.50. The attached billing statement is hereby noticed to the parties. 23 24 DATED: July 15, 2020 25 RYAN C. BAKER 26 27 28 3 RECEIVER’S STATUS REPORT NO. 12 EXHIBIT A MONTHLY FINANCIAL REPORT BEL AIR SUNRISE ROSEVILLE CENTER June 2020 – CASH BASIS REPORT INCLUDES: Financial Statements 1. Budget Comparison/Narrative Variance (separate excel file) 2. Cash Flow Summary 3. Income Statement 4. Trailing Income Statement 5. General Ledger Lease Information 6. Rent Roll 7. Tenant Gross Sales Accounts Receivable 8. Aged Accounts Receivable Detail 9. Income Register Accounts Payable 10. Aged Payable Detail 11. Check Register Supporting Documents 12. Bank Reconciliations 13. Bank Statements 14. Management Fee GRE Management Services, Inc CASH FLOW SUMMARY BEL AIR SUNRISE ROSEVILLE CENTER June 2020 WELLS FARGO OPERATING ACCOUNT: PREVIOUS MONTH CASH BALANCE $ 94,574.32 ADD: Total Tenant Cash Receipts $ 44,756.90 ADD: Tenant Deposits ADD: Clearing-Tenant Deposits $ - TOTAL $ 44,756.90 LESS: Expense Disbursements $ 22,820.62 LESS: Move out Refund $ 3,250.00 TOTAL $ 26,070.62 NET CASH FLOW FOR MONTH $ 18,686.28 END OF MONTH CASH BALANCE $ 113,260.60 COMBINED PREVIOUS MONTH CASH BALANCES $ 94,574.32 COMBINED END OF MONTH CASH BALANCES $ 113,260.60 COMBINED NET CASH FLOW FOR THE MONTH $ 18,686.28 7/8/2020 2:59 PM Bel Air Sunrise Roseville Center (bel) Income Statement Period = Jun 2020 Book = Cash Period to Date % Year to Date % 4010-0000 INCOME 4100-0000 RENT INCOME 4500-0000 Rent 35,343.65 72.50 248,723.12 78.12 4500-0010 Prepaid Rent Income 2,911.62 5.97 924.66 0.29 4500-0015 Less: Concession -2,107.68 -4.32 -24,083.34 -7.56 4500-9999 NET RENT INCOME 36,147.59 74.15 225,564.44 70.85 4503-0000 OTHER RENTS PROPERTY 4503-0060 Miscellaneous Reimbursements 0.00 0.00 649.00 0.20 4503-9999 TOTAL OTHER RENTS PROPERTY 0.00 0.00 649.00 0.20 5100-0000 EXPENSE REIMBURSEMENT 5100-0045 Estimated CAM Charges 8,049.05 16.51 59,585.04 18.72 5100-0050 Passthru Property Tax 3,655.09 7.50 24,972.11 7.84 5100-0055 Passthru Insurance 900.17 1.85 5,906.96 1.86 5100-0110 PY Operating Expense Rec 0.00 0.00 -108.50 -0.03 5100-9999 TOTAL EXPENSE REIMBURSEMENT 12,604.31 25.85 90,355.61 28.38 5600-0000 OTHER INCOME 5600-0040 Late Fee 0.00 0.00 1,803.38 0.57 5600-9999 TOTAL OTHER INCOME 0.00 0.00 1,803.38 0.57 5990-0000 TOTAL INCOME 48,751.90 100.00 318,372.43 100.00 6000-0000 EXPENSES 6175-0000 LANDSCAPE SERVICES 6175-0010 Ext. Landscape Contract 1,203.00 2.47 7,931.56 2.49 6175-9999 TOTAL LANDSCAPE SERVICES 1,203.00 2.47 7,931.56 2.49 6200-0000 HVAC MAINTENANCE 6200-0010 HVAC Service Contract 580.00 1.19 1,160.00 0.36 6200-9999 TOTAL HVAC MAINTENANCE 580.00 1.19 1,160.00 0.36 6250-0000 SECURITY/LIFE SAFETY 6250-0010 Fire Alarm Monitoring 0.00 0.00 425.00 0.13 6250-0025 Security Monitoring 0.00 0.00 687.62 0.22 6250-9999 TOTAL SECURITY/LIFE SAFETY 0.00 0.00 1,112.62 0.35 6275-0000 GROUND & LOT 6275-0010 Parking Lot 0.00 0.00 1,275.00 0.40 6275-0020 Parking lot Sweeping 807.00 1.66 5,731.87 1.80 6275-0060 Extermination 88.00 0.18 528.00 0.17 6275-0070 Parking Lot Lighting Contract 538.72 1.10 1,167.50 0.37 6275-0135 Power Washing 525.00 1.08 1,770.00 0.56 6275-0140 Grounds Pick Up 604.00 1.24 4,464.24 1.40 6275-9999 TOTAL GROUND & LOT 2,562.72 5.26 14,936.61 4.69 6300-0000 GENERAL REPAIR & MAINTENANCE 6300-0050 Exterior Lighting 333.82 0.68 1,124.77 0.35 6300-0080 Misc. R&M 0.00 0.00 1,435.00 0.45 6300-0110 Roof 0.00 0.00 3,868.00 1.21 6300-9999 TOTAL GENERAL REPAIR & MAINTENANCE 333.82 0.68 6,427.77 2.02 6350-0000 MANAGEMENT FEES 6350-0010 Management Fees 3,500.00 7.18 21,000.00 6.60 6350-9999 TOTAL MANAGEMENT FEES 3,500.00 7.18 21,000.00 6.60 6425-0000 UTILITIES 6425-0020 Electricity-Building Only 187.55 0.38 1,718.80 0.54 6425-0025 Electricity-Parking Lot 273.14 0.56 1,918.05 0.60 6425-0040 Water & Sewer 408.22 0.84 3,017.42 0.95 Page 1 of 2 7/8/2020 2:59 PM Bel Air Sunrise Roseville Center (bel) Income Statement Period = Jun 2020 Book = Cash Period to Date % Year to Date % 6425-0045 Irrigation 248.31 0.51 906.16 0.28 6425-0060 Trash Disposal 2,726.42 5.59 14,734.27 4.63 6425-0090 Sewer 503.34 1.03 4,794.26 1.51 6425-9999 TOTAL UTILITIES 4,346.98 8.92 27,088.96 8.51 6450-0000 REAL ESTATE TAXES 6450-0020 Property Tax: Real Estate Property 0.00 0.00 44,800.56 14.07 6450-9999 TOTAL REAL ESTATE TAXES 0.00 0.00 44,800.56 14.07 6475-0000 INSURANCE 6475-0010 Insurance - General Liability 0.00 0.00 243.02 0.08 6475-9999 TOTAL INSURANCE 0.00 0.00 243.02 0.08 6500-9999 TOTAL OPERATING EXPENSES 12,526.52 25.69 124,701.10 39.17 6501-9999 NET OPERATING INCOME 36,225.38 74.31 193,671.33 60.83 7000-0000 NON-RECOVERABLE EXPENSES 7025-0000 MISC. NON-RECOVERABLE EXP. 7025-0011 Credit Check Fees 0.00 0.00 230.00 0.07 7025-0015 Receiver Fees 6,721.95 13.79 32,549.88 10.22 7025-0045 R&M-Unrecoverable 135.00 0.28 1,535.58 0.48 7025-0049 Utilities-Unrecoverable 786.62 1.61 5,808.20 1.82 7025-0085 Reimbursable PM Charges 0.00 0.00 131.76 0.04 7025-0135 Performance Bond 0.00 0.00 600.00 0.19 7025-9999 TOTAL MISC. NON-RECOVERABLE EXP. 7,643.57 15.68 40,855.42 12.83 7635-0000 PROFESSIONAL FEES 7635-0040 Professional Fees:Legal Fees 0.00 0.00 2,752.99 0.86 7635-0050 Professional Fees:Professional/Consulting 1,290.53 2.65 125,477.38 39.41 7635-9999 TOTAL PROFESSIONAL FEES 1,290.53 2.65 128,230.37 40.28 7990-0000 TOTAL NON-RECOVERABLE EXPENSES 8,934.10 18.33 169,085.79 53.11 8600-0000 OTHER EXPENSES 8600-0030 Bad Debts 0.00 0.00 28,059.30 8.81 8600-9999 TOTAL OTHER EXPENSES 0.00 0.00 28,059.30 8.81 8990-0000 TOTAL NON-OPERATING EXPENSES 8,934.10 18.33 197,145.09 61.92 9090-0000 TOTAL NET INCOME 27,291.28 55.98 -3,473.76 -1.09 Page 2 of 2 7/8/2020 2:56 PM Bel Air Sunrise Roseville Center (bel) Statement (12 months) Period = Jul 2019-Jun 2020 Book = Cash ; Tree = ysi_cf Jul 2019 Aug 2019 Sep 2019 Oct 2019 Nov 2019 Dec 2019 Jan 2020 Feb 2020 Mar 2020 Apr 2020 May 2020 Jun 2020 Total 4010-0000 INCOME 4100-0000 RENT INCOME 4500-0000 Rent 33,682.36 40,722.36 43,552.36 53,452.90 46,270.90 48,638.28 42,389.36 47,907.65 56,315.00 32,953.61 33,813.85 35,343.65 515,042.28 4500-0010 Prepaid Rent Income 4,060.46 2,079.78 -2,352.17 8,858.58 -2,664.16 -134.68 2,394.45 -815.51 -2,005.33 -6,899.23 5,338.66 2,911.62 10,772.47 4500-0015 Less: Concession 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -18,425.50 -3,550.16 -2,107.68 -24,083.34 4500-9999 NET RENT INCOME 37,742.82 42,802.14 41,200.19 62,311.48 43,606.74 48,503.60 44,783.81 47,092.14 54,309.67 7,628.88 35,602.35 36,147.59 501,731.41 4503-0000 OTHER RENTS PROPERTY 4503-0060 Miscellaneous Reimbursements 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 649.00 0.00 0.00 0.00 649.00 4503-9999 TOTAL OTHER RENTS PROPERTY 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 649.00 0.00 0.00 0.00 649.00 5001-0000 FEE INCOME 5001-0002 Asset Management Fees -876.26 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -876.26 5001-9999 TOTAL FEE INCOME -876.26 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -876.26 5100-0000 EXPENSE REIMBURSEMENT 5100-0045 Estimated CAM Charges 9,141.62 7,834.57 13,602.80 11,424.45 10,912.84 10,924.52 12,658.42 13,841.68 11,360.41 6,642.80 7,032.68 8,049.05 123,425.84 5100-0050 Passthru Property Tax 2,773.66 2,825.63 3,414.66 3,553.10 3,521.28 3,524.85 4,090.60 6,141.21 4,673.30 3,209.03 3,202.88 3,655.09 44,585.29 5100-0055 Passthru Insurance 621.20 289.10 568.46 1,113.77 703.78 999.03 782.94 1,444.05 939.98 1,108.58 731.24 900.17 10,202.30 5100-0110 PY Operating Expense Rec -54.49 0.00 134.68 -2,125.68 0.00 -1,187.99 0.00 -108.50 0.00 0.00 0.00 0.00 -3,341.98 5100-9999 TOTAL EXPENSE REIMBURSEMENT 12,481.99 10,949.30 17,720.60 13,965.64 15,137.90 14,260.41 17,531.96 21,318.44 16,973.69 10,960.41 10,966.80 12,604.31 174,871.45 5600-0000 OTHER INCOME 5600-0030 Miscellaneous Income 479.77 0.00 -0.25 -926.73 0.00 -318.29 0.00 0.00 0.00 0.00 0.00 0.00 -765.50 5600-0040 Late Fee 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1,803.38 0.00 0.00 0.00 0.00 1,803.38 5600-9999 TOTAL OTHER INCOME 479.77 0.00 -0.25 -926.73 0.00 -318.29 0.00 1,803.38 0.00 0.00 0.00 0.00 1,037.88 5990-0000 TOTAL INCOME 49,828.32 53,751.44 58,920.54 75,350.39 58,744.64 62,445.72 62,315.77 70,213.96 71,932.36 18,589.29 46,569.15 48,751.90 677,413.48 6100-0000 OPERATING EXPENSES 6175-0000 LANDSCAPE SERVICES 6175-0010 Ext. Landscape Contract 1,203.00 6,940.70 0.00 2,406.00 1,203.00 3,243.00 1,916.56 1,203.00 1,203.00 1,203.00 1,203.00 1,203.00 22,927.26 6175-9999 TOTAL LANDSCAPE SERVICES 1,203.00 6,940.70 0.00 2,406.00 1,203.00 3,243.00 1,916.56 1,203.00 1,203.00 1,203.00 1,203.00 1,203.00 22,927.26 6200-0000 HVAC MAINTENANCE 6200-0010 HVAC Service Contract 580.00 0.00 0.00 0.00 580.00 0.00 0.00 580.00 0.00 0.00 0.00 580.00 2,320.00 6200-9999 TOTAL HVAC MAINTENANCE 580.00 0.00 0.00 0.00 580.00 0.00 0.00 580.00 0.00 0.00 0.00 580.00 2,320.00 6250-0000 SECURITY/LIFE SAFETY Page 1 of 4 7/8/2020 2:56 PM Bel Air Sunrise Roseville Center (bel) Statement (12 months) Period = Jul 2019-Jun 2020 Book = Cash ; Tree = ysi_cf Jul 2019 Aug 2019 Sep 2019 Oct 2019 Nov 2019 Dec 2019 Jan 2020 Feb 2020 Mar 2020 Apr 2020 May 2020 Jun 2020 Total 6250-0010 Fire Alarm Monitoring 0.00 600.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 425.00 0.00 0.00 1,025.00 6250-0025 Security Monitoring 0.00 321.00 0.00 0.00 321.00 0.00 0.00 366.62 0.00 0.00 321.00 0.00 1,329.62 6250-9999 TOTAL SECURITY/LIFE SAFETY 0.00 921.00 0.00 0.00 321.00 0.00 0.00 366.62 0.00 425.00 321.00 0.00 2,354.62 6275-0000 GROUND & LOT 6275-0010 Parking Lot 0.00 0.00 0.00 0.00 0.00 0.00 1,275.00 0.00 0.00 0.00 0.00 0.00 1,275.00 6275-0020 Parking lot Sweeping 1,150.00 2,300.00 0.00 2,300.00 2,271.00 1,121.00 1,121.00 1,121.00 1,121.00 754.87 807.00 807.00 14,873.87 6275-0060 Extermination 120.00 60.00 120.00 60.00 148.00 88.00 88.00 88.00 88.00 88.00 88.00 88.00 1,124.00 6275-0070 Parking Lot Lighting Contract 808.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 628.78 538.72 1,975.50 6275-0135 Power Washing 900.00 0.00 0.00 600.00 415.00 415.00 415.00 415.00 415.00 0.00 0.00 525.00 4,100.00 6275-0140 Grounds Pick Up 837.00 837.00 837.00 837.00 898.00 898.00 898.00 898.00 898.00 562.24 604.00 604.00 9,608.24 6275-9999 TOTAL GROUND & LOT 3,815.00 3,197.00 957.00 3,797.00 3,732.00 2,522.00 3,797.00 2,522.00 2,522.00 1,405.11 2,127.78 2,562.72 32,956.61 6300-0000 GENERAL REPAIR & MAINTENANCE 6300-0050 Exterior Lighting 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 790.95 333.82 1,124.77 6300-0080 Misc. R&M 0.00 385.00 0.00 350.00 3,267.00 0.00 1,435.00 0.00 0.00 0.00 0.00 0.00 5,437.00 6300-0110 Roof 0.00 0.00 0.00 0.00 0.00 0.00 1,815.00 537.00 0.00 1,516.00 0.00 0.00 3,868.00 6300-9999 TOTAL GENERAL REPAIR & MAINTENANCE 0.00 385.00 0.00 350.00 3,267.00 0.00 3,250.00 537.00 0.00 1,516.00 790.95 333.82 10,429.77 6350-0000 MANAGEMENT FEES 6350-0010 Management Fees 1,199.74 0.00 5,250.00 3,500.00 3,500.00 3,500.00 3,500.00 3,500.00 3,500.00 3,500.00 3,500.00 3,500.00 37,949.74 6350-9999 TOTAL MANAGEMENT FEES 1,199.74 0.00 5,250.00 3,500.00 3,500.00 3,500.00 3,500.00 3,500.00 3,500.00 3,500.00 3,500.00 3,500.00 37,949.74 6425-0000 UTILITIES 6425-0020 Electricity-Building Only 0.00 415.32 378.67 423.50 360.55 352.85 374.69 429.12 304.40 221.82 201.22 187.55 3,649.69 6425-0025 Electricity-Parking Lot 654.52 332.18 302.62 354.36 324.71 324.80 346.64 391.67 324.59 310.31 271.70 273.14 4,211.24 6425-0040 Water & Sewer 563.94 564.41 561.62 585.02 557.72 530.42 527.82 577.22 514.82 562.92 426.42 408.22 6,380.55 6425-0045 Irrigation 394.47 467.10 492.71 418.61 354.91 314.61 163.81 123.51 123.51 123.51 123.51 248.31 3,348.57 6425-0060 Trash Disposal 2,432.56 2,191.43 2,223.74 2,424.93 2,567.18 2,572.53 2,572.53 2,275.10 1,938.16 2,557.09 2,664.97 2,726.42 29,146.64 6425-0090 Sewer 959.16 965.34 982.42 1,055.50 970.24 884.98 876.86 1,031.14 836.26 986.48 560.18 503.34 10,611.90 6425-9999 TOTAL UTILITIES 5,004.65 4,935.78 4,941.78 5,261.92 5,135.31 4,980.19 4,862.35 4,827.76 4,041.74 4,762.13 4,248.00 4,346.98 57,348.59 6450-0000 REAL ESTATE TAXES 6450-0020 Property Tax: Real Estate Property 0.00 0.00 0.00 0.00 44,800.56 0.00 0.00 0.00 0.00 44,800.56 0.00 0.00 89,601.12 6450-9999 TOTAL REAL ESTATE TAXES 0.00 0.00 0.00 0.00 44,800.56 0.00 0.00 0.00 0.00 44,800.56 0.00 0.00 89,601.12 6475-0000 INSURANCE 6475-0010 Insurance - General Liability 77.67 0.00 1,764.00 77.67 18,740.00 268.00 243.02 0.00 0.00 0.00 0.00 0.00 21,170.36 6475-9999 TOTAL INSURANCE 77.67 0.00 1,764.00 77.67 18,740.00 268.00 243.02 0.00 0.00 0.00 0.00 0.00 21,170.36 6500-9999 TOTAL OPERATING EXPENSES 11,880.06 16,379.48 12,912.78 15,392.59 81,278.87 14,513.19 17,568.93 13,536.38 11,266.74 57,611.80 12,190.73 12,526.52 277,058.07 Page 2 of 4 7/8/2020 2:56 PM Bel Air Sunrise Roseville Center (bel) Statement (12 months) Period = Jul 2019-Jun 2020 Book = Cash ; Tree = ysi_cf Jul 2019 Aug 2019 Sep 2019 Oct 2019 Nov 2019 Dec 2019 Jan 2020 Feb 2020 Mar 2020 Apr 2020 May 2020 Jun 2020 Total 6501-9999 NET OPERATING INCOME 37,948.26 37,371.96 46,007.76 59,957.80 -22,534.23 47,932.53 44,746.84 56,677.58 60,665.62 -39,022.51 34,378.42 36,225.38 400,355.41 7000-0000 NON-RECOVERABLE EXPENSES 7025-0000 MISC. NON-RECOVERABLE EXP. 7025-0011 Credit Check Fees 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 165.00 0.00 65.00 0.00 230.00 7025-0015 Receiver Fees 0.00 0.00 4,351.00 4,135.00 6,409.13 11,071.88 4,370.16 4,098.53 0.00 10,173.67 7,185.57 6,721.95 58,516.89 7025-0030 Tenant Reimbursable Expense 0.00 0.00 0.00 649.00 140.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 789.00 7025-0045 R&M-Unrecoverable 0.00 510.11 0.00 0.00 0.00 60.32 0.00 1,200.24 0.00 0.00 200.34 135.00 2,106.01 7025-0049 Utilities-Unrecoverable 2,570.52 2,432.54 951.62 301.80 1,702.49 2,395.72 1,413.70 333.84 504.99 788.86 1,980.19 786.62 16,162.89 7025-0080 Admin & Bank Fees 30.00 -0.12 30.00 30.00 30.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 119.88 7025-0083 Permits, Licenses & Fees 0.00 70.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 70.00 7025-0085 Reimbursable PM Charges 0.00 0.00 0.00 62.80 0.00 0.00 0.00 54.70 17.86 0.00 59.20 0.00 194.56 7025-0135 Performance Bond 0.00 620.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 600.00 0.00 1,220.00 7025-9999 TOTAL MISC. NON-RECOVERABLE EXP. 2,600.52 3,632.53 5,332.62 5,178.60 8,281.62 13,527.92 5,783.86 5,687.31 687.85 10,962.53 10,090.30 7,643.57 79,409.23 7635-0000 PROFESSIONAL FEES 7635-0010 Professional Fees:Accounting 4,600.00 7,625.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 12,225.00 7635-0031 Professional Fees:Consulting:Yardi/Marketing/Regs 0.00 0.00 0.00 1,000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1,000.00 7635-0040 Professional Fees:Legal Fees 17,500.00 0.00 0.00 0.00 1,209.00 2,206.00 2,062.99 690.00 0.00 0.00 0.00 0.00 23,667.99 7635-0050 Professional Fees:Professional/Consulting 0.00 164.86 18,559.26 12,911.10 0.00 13,136.76 0.00 31,152.85 0.00 18,770.00 74,264.00 1,290.53 170,249.36 7635-9999 TOTAL PROFESSIONAL FEES 22,100.00 7,789.86 18,559.26 13,911.10 1,209.00 15,342.76 2,062.99 31,842.85 0.00 18,770.00 74,264.00 1,290.53 207,142.35 7990-0000 TOTAL NON-RECOVERABLE EXPENSES 24,700.52 11,422.39 23,891.88 19,089.70 9,490.62 28,870.68 7,846.85 37,530.16 687.85 29,732.53 84,354.30 8,934.10 286,551.58 8000-0000 DEPRECIATION EXPENSE 8110-0000 Depreciation-Building 9,436.08 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 9,436.08 8250-0002 Amortization Expense 2,153.15 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2,153.15 8390-0000 TOTAL DEPRECIATION EXPENSE 11,589.23 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 11,589.23 8600-0000 OTHER EXPENSES 8600-0030 Bad Debts 0.00 0.00 0.00 0.00 0.00 0.00 0.00 28,059.30 0.00 0.00 0.00 0.00 28,059.30 8600-9999 TOTAL OTHER EXPENSES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 28,059.30 0.00 0.00 0.00 0.00 28,059.30 8990-0000 TOTAL NON-OPERATING EXPENSES 36,289.75 11,422.39 23,891.88 19,089.70 9,490.62 28,870.68 7,846.85 65,589.46 687.85 29,732.53 84,354.30 8,934.10 326,200.11 9090-0000 TOTAL NET INCOME 1,658.51 25,949.57 22,115.88 40,868.10 -32,024.85 19,061.85 36,899.99 -8,911.88 59,977.77 -68,755.04 -49,975.88 27,291.28 74,155.30 ADJUSTMENTS 1301-0000 Accounts Receivable -12,882.43 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -12,882.43 Page 3 of 4 7/8/2020 2:56 PM Bel Air Sunrise Roseville Center (bel) Statement (12 months) Period = Jul 2019-Jun 2020 Book = Cash ; Tree = ysi_cf Jul 2019 Aug 2019 Sep 2019 Oct 2019 Nov 2019 Dec 2019 Jan 2020 Feb 2020 Mar 2020 Apr 2020 May 2020 Jun 2020 Total 1301-0005 A/R Tenant Billbacks 0.00 0.00 0.00 -140.00 140.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1315-0000 A/R - Other 0.00 0.00 0.00 -112.67 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -112.67 1400-0175 Intercompany: Master Servicer 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 44,800.56 0.00 0.00 44,800.56 1800-0025 Accum Depr - Building 9,436.08 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 9,436.08 1800-0030 Improvements - Buildings -787.56 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -787.56 1800-0055 Accum Deprec. Tenant Allowance 633.89 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 633.89 1800-0056 Lease Commissions 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -4,449.60 0.00 -4,449.60 1800-0057 Accum Amort - Lease Comm -5,112.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -5,112.00 1800-0076 Leasing Legal 0.00 0.00 0.00 0.00 -2,000.00 0.00 0.00 0.00 0.00 -400.00 -96.00 -1,360.00 -3,856.00 1850-0005 Accumulated Amortization 2,306.82 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2,306.82 2250-0000 Tenant Deposits 0.00 0.00 0.00 0.00 0.00 0.00 -2,650.00 0.00 0.00 0.00 290.00 -7,245.00 -9,605.00 3820-0000 Suspense -7,567.61 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -7,567.61 TOTAL ADJUSTMENTS -13,972.81 0.00 0.00 -252.67 -1,860.00 0.00 -2,650.00 0.00 0.00 44,400.56 -4,2