Question-and-Answer Session
Operator
(Operator Instructions) Our first question is from the line of Douglas Harter - Credit Suisse.
Douglas Harter - Credit Suisse
Dave, you said that on the net lease healthcare portfolio that you see about $1 per share book value gain there. Is that over and above the fair value number that you gave?
David T. Hamamoto
No, that’s over depreciated.
Douglas Harter - Credit Suisse
So that would be included in the FAS 159?
David T. Hamamoto
Some of it is. No, the real estate is not mark-to-market. FAS 159 is just for financial assets and liabilities.
Douglas Harter - Credit Suisse
So the real estate could be over and above that?
David T. Hamamoto
Yes.
Douglas Harter - Credit Suisse
And can you just talk about any other debt maturities that you have in 2008?
David T. Hamamoto
The one I talked about is the nearest term debt maturity. We also have another facility in the Monroe venture that matures on end of July. At least that’s the initial maturity date. That facility has two extension options, I believe, but it’s at the option of the lender.
And also, our JPMorgan facility that basically finances real estate lending investments, the one-year anniversary is also, I think, at the beginning of August, and that is expendable, I believe, so long as we’re in compliance with that facility for an additional two one-year periods.
Douglas Harter - Credit Suisse
So that would be expendable at your option assuming you’re still in compliance?
David T. Hamamoto
Yes.
Operator
Our next question comes from the line of Bill [Inaudible] – TCF Financial.
Bill [Inaudible] – TCF Financial
You made a comment how you have not experience any defaults currently. I’d like to know, is that just as of the reporting period or as of today?
David T. Hamamoto
I think we said in our press release that through the end of the day yesterday. And so far, this afternoon, there’s nothing that I’m aware of that’s occurred.
Operator
Our next question comes from the line of James Shanahan - Wachovia.
James Shanahan - Wachovia
I’d like some clarification on the net lease. I just want to make sure I have this right. You’re proposing potentially selling the healthcare net lease portfolio, which you had indicated was a $721 million cost basis, financed with $515 million. This is the portfolio that you’re selling, not the entire portfolio?
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