$29 MILLION NET LEASED DEAL - ONLY 6.1% CASH DOWN

Executive Summary

Lessee
PetsMart, Inc. The Lessee has an S&P B+ rating

The Properties
Eight retail properties located m the states of Arizona, California, Michigan, Missouri, and Tennessee all leased to PetsMart.

Form of Lease
Eight bond type net leases. Under these leases, the Lessee is obligated to pay all costs associated wit the use, possession, control, maintenance and operation of each property. The Leases are completely net, with rents sufficient to meet the scheduled interest and principal payments on the Notes referred to below as they become due. Term: 20 years with two five year options.

Existing Financing
Eight promissory Notes (the Notes, or individually the Note) in an aggregate principal amount of $27,094,013 maturing on January 11, 2008. The Notes are non-recourse to the Lessors.

Security
The interest rate on the Notes is 8.77% per annum; the Notes are amortized on a 30 year amortization schedule. The Notes are secured by: 1) a first mortgage and security interest in each of the Properties, 2) the assignment of the Lease of each Property, including the right to receive directly from PetsMart all rents and other amounts payable by PetsMart, and 3) PetsMart's consent to the assignment of each Lease.

Form of Conveyance
Transfer of Lessor's beneficial interest in the Delaware Business Trusts or, at the Purchaser's option, transfer by deed

Equity Investment
6.5% of loan amount

For Furthur Information on PetsMart Click below:

SEC Filings: http://www.sec.gov/cgi-bin/srch-edgar?petsmart

Corporate Home Page: http://www.petsmart.com

For Further Information please contact: John M. Peckham III, Peckham Boston Advisors, 4 Longfellow Place, Boston, MA 02114 Phone : 617-523-4440; Fax: 617-523-4736 E -mail : bostonjack@earthlink.net

Information contained herein is from sources deemed reliable but no guarantee of accuracy can be made. This offering is made subject to prior sale, change in price or terms or withdrawal without notice.