FCC Proudreed Properties 2005 HSBC SG CORPORATE ...

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Property Name Property address Type Region Passing Rent (w) ERV (w) Market Value (w) Sq. meters Occupancy St Pierre en Faucigny (74) Lotissement Les Jourdies Evry Bois Guillaume 8/10 rue du Bois Sauvage Emerainville ASE 4, 61 av de l’Europe. VE de la Malnoue Emerainville VE6, 59 av de l’Europe Emerainville VE 5, 59 bis av de l’Europe Emerainville ASE 1, Malnoue 65 bis av de l’Europe Industrial Rhône-Alpes 41,486 41,486 350,000 10,533 100% Warehouse/ Distribution Office Office Office Office South West Ile-de-France East Ile-de-France East Ile-de-France East Ile-de-France East Ile-de-France Ulis Hightec 6 9 av du Canada Office South West Ile-de-France Goussainville Vaires sur Marne (construction) 5, rue Ambroise Croizat ZI de la trentaine Chemin du corps de garde Warehouse/ Distribution Retail North West Ile-de-France East Ile-de-France Emerainville Villa 41, Bd l’Europe Office East Ile-de-France Marly la Ville ZI de Moimont Warehouse/ Distribution North West Ile-de-France 35,750 40,625 410,000 325 100% 31,856 31,050 290,000 325 100% 29,279 26,500 270,000 310 100% 28,723 26,678 270,000 314 100% 27,300 48,450 250,000 325 100% 19,544 187,125 1,500,000 2,495 12% 0 311,310 2,350,000 7,000 0% 0 0 2,475,000 14,200 100% 0 27,625 370,000 570 0% 0 570,000 3,640,000 8,950 0% Total Paris Properties (Total Occupancy rate is based on weighted average) 40,000,701 40,587,475 418,395,000 833,519 92% 2. Tenant Concentration (Top 10 Tenants) Tenant Name Passing Rent (w) % of total Sq. meters % of total Property/Properties occupied Rating (S&P/ Fitch) ND LOGISTIC 6,381,521 16.0% 181,492 21.8% Several Properties NR/NR LOGIDIS 3,280,835 8.2% 86,240 10.3% Several Properties A+/A+ GOODYEAR 1,241,909 3.1% 5,355 0.6% Rueil Malmaison B+/B Centrale Financière 1,200,895 3.0% 21,513 2.6% Mer BBB+/BBB+ VISTEON Systemes 1,093,723 2.7% 16,591 2.0% Chatillon-sur-Seine NR/NR MOTOROLA 934,231 2.3% 6,220 0.7% Saint-Aubin BBB+/BBB+ Ricoh France 904,134 2.3% 5,782 0.7% Clamart NR/NR NOVARCHIVE 727,959 1.8% 10,864 1.3% Rosny-sur-Seine NR/NR NOCIBE 727,035 1.8% 12,023 1.4% Villeneuve d’Ascq NR/NR BRAND 687,592 1.7% 18,194 2.2% Several Properties NR/NR Sub Total Top 10 Tenants 17,179,833 TOTAL Paris Properties 40,000,701 3. Lease type and length of lease Summary of Lease Types Lease Type Passing Rent (w) % of Total Precarious 84,110 0.21% Short Term 0 0.00% Commercial 18,588,115 46.47% Long Term 20,754,895 51.89% Other 573,579 1.43% Total Paris Properties 40,000,701 100% 27
3. Lease type and length of lease Summary of Expiry of Occupational Leases Year of expiration Number of Leases Passing Rent (w) % of total Cumulative % of Passing Rent 2005 21 1,534,853 3.8% 3.8% 2006 12 2,200,379 5.5% 9.3% 2007 13 1,473,590 3.7% 13.0% 2008 15 933,937 2.3% 15.4% 2009 22 3,878,432 9.7% 25.1% 2010 20 4,389,478 11.0% 36.0% 2011 38 5,136,725 12.8% 48.9% 2012 33 5,844,748 14.6% 63.5% 2013 71 9,388,676 23.5% 87.0% 2014 45 3,451,466 8.6% 95.6% 2015 4 856,886 2.1% 97.7% 2016 2 727,035 1.8% 99.5% 2017 2 145,601 0.4% 99.9% 2018 1 5,993 0.0% 99.9% 2019 0 0 0.0% 99.9% 2020 1 32,900 0.1% 100.0% Total Paris Properties 300 40,000,701 100% Summary of Expiry of Occupational Leases (assuming exercise of first break option) Year of break option Number of Leases Passing Rent (w) % of total Cumulative % of Passing Rent 2005 21 1,534,853 3.8% 3.8% 2006 54 6,960,744 17.4% 21.2% 2007 81 9,673,067 24.2% 45.4% 2008 86 7,116,411 17.8% 63.2% 2009 17 4,647,109 11.6% 74.8% 2010 16 4,376,557 10.9% 85.8% 2011 9 1,559,875 3.9% 89.7% 2012 3 1,277,113 3.2% 92.9% 2013 8 2,618,386 6.5% 99.4% 2014 3 64,413 0.2% 99.6% 2015 0 0 0.0% 99.6% 2016 0 0 0.0% 99.6% 2017 1 139,273 0.3% 99.9% 2018 0 0 0.0% 99.9% 2019 0 0 0.0% 99.9% 2020 1 32,900 0.1% 100.0% Total Paris Properties 300 40,000,701 100% 28
Page 1 and 2: FCC Proudreed Properties 2005 a Fre
Page 3 and 4: (having taken all reasonable care t
Page 5 and 6: CONTENTS SECTION PAGE PRINCIPAL CHA
Page 7 and 8: PRINCIPAL CHARACTERISTICS OF THE CO
Page 9 and 10: LTV Ratio: Security: Insurance: Mor
Page 11 and 12: DIAGRAMMATIC OVERVIEW OF PARTIES AN
Page 13 and 14: is one Business Day following such
Page 15 and 16: SARL Enoville is a French limited l
Page 17 and 18: Hedging Agreements. For a descripti
Page 19 and 20: For further details as to the risks
Page 21 and 22: 2. Tenant Concentration (Top 10 Ten
Page 23 and 24: 6. Sectoral Weightings: (Industrial
Page 25 and 26: Paris Properties 1. Summary descrip
Page 27: Property Name Property address Type
Page 31 and 32: 7. Details of the Top Ten Propertie
Page 33 and 34: Property Number 7 Property Name Cha
Page 35 and 36: PRINCIPAL FEATURES OF THE NOTES Bel
Page 37 and 38: ‘‘AA’’ by Fitch and a ratin
Page 39 and 40: Interest Rate Risks Interest on the
Page 41 and 42: after among other things, payments
Page 43 and 44: same criteria as apply to the Secur
Page 45 and 46: Although any successor manager of a
Page 47 and 48: within the Property Portfolio relat
Page 49 and 50: this judicial procedure. The judgme
Page 51 and 52: Risks relating to Planning - Right
Page 53 and 54: (a) to obtain an order for, or paym
Page 55 and 56: Secured Properties The Secured Prop
Page 57 and 58: described under ‘‘Obligor Secur
Page 59 and 60: (together with accrued interest). F
Page 61 and 62: date on which sale proceeds are rec
Page 63 and 64: Facility Fees Pursuant to the terms
Page 65 and 66: • details of the Property Manager
Page 67 and 68: taking into account any rent guaran
Page 69 and 70: (d) any Obligor or the Borrowers’
Page 71 and 72: (or u100,000 for Proudreed France S
Page 73 and 74: Account and the related Disposal Ex
Page 75 and 76: The ‘‘Due Diligence Criteria’
Page 77 and 78: (e) a deposit (by way of gage-espè
Page 79 and 80:
Pursuant to the terms of the Proper
Page 81 and 82:
negatively affect the credit qualit
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provided however that no such termi
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RESOURCES AVAILABLE TO THE BORROWER
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Reserve. Furthermore, in the event
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Obligor Post-Enforcement Priorities
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Account following the occurrence of
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(e) fifth, in or towards satisfacti
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On delivery of a Note Enforcement N
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VALUATION REPORTS 22 septembre 2005
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We attach schedule of values, divid
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15 June 2005 Proudreed France Sarl
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Finally, we would ask that neither
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Finally, we would ask that neither
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This valuation is provided for the
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We confirm that we are able to comp
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We confirm that we are able to comp
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For recently completed developments
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Schedule of Values - Appendix 1 130
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Appendix 2 - Schedule of Values 132
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Appendix 4 Net Market Fund Ref Prop
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We are in the opinion that the valu
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Assets of the Issuer Receivables an
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The Custodian will receive a fee, p
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et seq. of the French Monetary and
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THE BORROWERS The Paris Properties
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• borrowing or more generally rai
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Loan Capital: Commercial Mortgage L
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− and generally all transactions
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7 rue d’Amiens S.C.I. Introductio
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• granting any security interest
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1 - BALANCE SHEET - ASSETS Corporat
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3 - INCOME STATEMENT Corporate name
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NOTES TO THE ACCOUNTS Before repart
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FIXED ASSETS Corporate name: PARIS
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RESERVES IN THE BALANCE SHEET Corpo
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TABLE OF ACCRUED ASSETS AND ACCRUED
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LEASING Corporate name: PARIS PROVI
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AFFILIATED COMPANIES AND INVESTMENT
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P.P.M.P.P. Financial Statements Yea
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2 - BALANCE SHEET - LIABILITIES AND
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3 - INCOME STATEMENT (CONTINUED) Co
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Corporate name: P.P.M.P.P. FIXED AS
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RESERVES IN THE BALANCE SHEET Corpo
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TABLE OF ACCRUED ASSETS AND ACCRUED
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SECURITY INTEREST GUARANTEED DEBTS
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The Paris Properties Parent Obligor
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which it is or will be a party (inc
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Principal Activities The principal
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PROUDREED FRANCE Financial Statemen
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2 - BALANCE SHEET - LIABILITIES AND
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3 - INCOME STATEMENT (CONTINUED) Co
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The principal schedules of deprecia
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DEPRECIATION Corporate name: PROUDR
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TABLE OF RECEIVABLES AND LIABILITIE
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Corporate Name: PROUDREED France DE
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Corporate name: PROUDREED France FI
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AFFILIATED COMPANIES AND INVESTMENT
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THE HEDGING PROVIDERS HSBC Bank plc
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TERMS AND CONDITIONS OF THE NOTES T
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above, on the basis of the offered
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(k) the Master Definitions and Fram
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and Paris Properties SARL and, in r
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(vi) ‘‘repay’’, ‘‘redee
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(ii) if there are no Class A Notes
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Priority of Payments Following Enfo
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Determination of Rates of Interest
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(although the Issuer will not have
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Currency of Payment (b) Payments in
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(f) (i) (ii) agreed that until all
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Management Company and the relevant
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Notices by Delivery to Euroclear, E
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TAXATION French Taxation Pursuant t
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which it sells Notes during the dis
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(c) the excerpts of the financial r
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Borrowers Account Bank means (i) in
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(b) (B) not confer a direct or indi
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FCC Servicer means each entity appo
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La Défense, France respectively (o
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Interest Period means each period f
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(i) (j) any dividend payment by tha
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Mortgage means (i) the mortgages (h
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(iv) any amounts payable by the Iss
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Loan Agreement during such Forward-
Page 263 and 264:
Regulation S means Regulation S und
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HSBC Bank plc 8 Canada Square Londo
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