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USA Courtney Downs LeaseCo, LLC

Balance Sheet
Books = Accrual
Feb 2008

ASSETS

Cash
Operating Cash 8,326.94
Money Market 0.00
Total Cash $8,326.94

OTHER ASSETS
Accounts Receivable (502.00)
Prepaid Expenses 48,167.14
Tax Escrow 312,964.74
Replacement Reserves 62,677.04
Capital / Repair Escrow 200,000.00
Total Other Assets 623,306.92

Total ASSETS 631,633.86

LIABILITIES & CAPITAL

LIABILITIES
Accounts Payable - Trade 160,620.18
Other Accounts Payable 828,060.05
Accrued Taxes 412,903.26
Prepaid Rent 15,563.77
Security Deposits 41,812.09
Notes Payable 44,930.83
Total Liabilities 1,503,890.18

CAPITAL

Owners Equity 100.00
Retained Earnings (872,356.32)
Total Capital (872,256.32)

Total LIABILITIES & CAPITAL 631,633.86
USA Courtney Downs LeaseCo, LLC
Budget Comparison
#REF!
For the period ending February 29, 2008

#NAME? #NAME? YTD YTD
Account Actual Budget $ Variance MTD Variance Comment Actual Budget
Revenue
Market Rent 294,410.00 294,410.00 0.00 588,820.00 588,820.00
Loss / Gain to Lease 787.00 10,940.00 (10,153.00) Variance reflects Market rent verses 3,629.00 21,187.00
lease rents.
Gross Potential Rent 295,197.00 305,350.00 (10,153.00) Explained above. 592,449.00 610,007.00
Prepaid Homeowners Dues 0.00 0.00 0.00 0.00 0.00
Residential Rent 0.00 0.00 0.00 0.00 0.00
Vacancy Loss (13,515.14) (27,074.00) 13,558.86 Actual vacancy is at 4.5% and (28,494.50) (55,869.00)
budgeted is at 9%.
Upfront Rent Concessions (434.48) (6,000.00) 5,565.52 Only a few look and leases were (424.48) (12,000.00)
offered due to higher occupancy.
Corporate Discount 0.00 0.00 0.00 0.00 0.00
Delinquent Rent 0.00 0.00 0.00 0.00 0.00
Adjustments & W/O (4,730.58) (1,534.00) (3,196.58) Due to two evictions and one skip. (16,214.18) (3,041.00)
Model Units (1,980.00) (1,980.00) 0.00 (3,960.00) (3,960.00)
Courtesy Officer Apt. 0.00 0.00 0.00 0.00 0.00
Employee Apartment (1,934.80) (1,935.00) 0.20 (3,869.60) (3,870.00)
Housekeeping & Maintenance Fee 0.00 0.00 0.00 0.00 0.00
Guest Suite (1,160.00) (1,160.00) 0.00 (365.00) (2,320.00)
Lease Term Concessions (7,711.00) (15,707.00) 7,996.00 We have been able to reduce the (17,790.23) (33,500.00)
amount of concessions offered to
higher occupancy.
Homeowner's Assn Dues Income 0.00 0.00 0.00 0.00 0.00
Homeowner Dues Paid 0.00 0.00 0.00 0.00 0.00
Model Units 0.00 0.00 0.00 0.00 0.00
Lease Contract Difference 0.00 0.00 0.00 0.00 0.00
Total Rental Income $263,731.00 $249,960.00 $13,771.00 Explained above. $521,331.01 $495,447.00

Laundry Income 0.00 0.00 0.00 0.00 0.00
Vending Income 0.00 0.00 0.00 0.00 0.00
Covered Parking Income 0.00 0.00 0.00 0.00 0.00
Late Charges & NSF Fees 2,778.95 1,463.00 1,315.95 28 late fees collected and four nsf 4,873.99 2,926.00
fees, verses 19 budgeted
Month to Month Premium 666.00 750.00 (84.00) 1,121.00 1,050.00
Storage Fees 1,270.00 720.00 550.00 Rented more storage units then 2,487.74 1,400.00
anticipated in the budget.
Repair & Maintenance Fees 0.00 0.00 0.00 0.00 0.00
Application Fees 1,500.00 1,323.00 177.00 30 application fees collected, verses 3,300.00 2,499.00
15 budgeted.
Termination Fees & Damages 2,500.00 0.00 2,500.00 #4208 buyout of lease due to getting 7,590.00 0.00
divorced.
Miscellaneous Income 1,318.85 200.00 1,118.85 This includes 16 credit card fees, 16 2,055.25 800.00
utility transfer fees and one transfer on
site fee.
Renters Insurance 0.00 0.00 0.00 0.00 0.00
Interest Income 0.00 0.00 0.00 0.00 3,489.00
Pet Rents & Fees 4,806.71 3,360.00 1,446.71 This includes nine new non refundable 8,177.68 6,720.00
pet fees at $300 each.
Tower Rent 0.00 0.00 0.00 0.00 0.00
Asset Management Fee 0.00 0.00 0.00 0.00 0.00
Parking Spaces Income 0.00 0.00 0.00 0.00 0.00
Homeowners Assessments 0.00 0.00 0.00 0.00 0.00
Garage Income 7,091.17 6,790.00 301.17 14,111.00 13,580.00
Water/Sewer Income 0.00 0.00 0.00 0.00 0.00
Cable/Telephone Income 3,113.37 475.00 2,638.37 This includes a revenue share check 3,113.37 950.00
from Oct, Nov and Dec.
HOA Contributions Developer 0.00 0.00 0.00 0.00 0.00
Developer HOA Dues 0.00 0.00 0.00 0.00 0.00
Forfeited Deposits 0.00 300.00 (300.00) 0.00 600.00
Developer Contributions 0.00 0.00 0.00 0.00 0.00
Interest Income Other 0.00 0.00 0.00 0.00 0.00
Thunder Income 0.00 0.00 0.00 0.00 0.00
Administration Fee 3,150.00 2,100.00 1,050.00 21 administration fees collected, 7,200.00 3,920.00
verses 15 budgeted.
Move-Out Charges 5,608.70 2,400.00 3,208.70 Apartments left in bad condition at the 7,209.04 4,800.00
time of move out resulting in more
charges and 15 payments made on
past due bills.
Short Term Lease Fees 400.00 375.00 25.00 800.00 875.00
Extra-Ordinary Income 0.00 0.00 0.00 0.00 0.00
Corporate Rent 0.00 0.00 0.00 0.00 0.00
Corporate Units - expense 0.00 0.00 0.00 0.00 0.00
Deferred Revenue 0.00 0.00 0.00 0.00 0.00
HOA Developer Contributions 0.00 0.00 0.00 0.00 0.00
Acquisition Fees 0.00 0.00 0.00 0.00 0.00
Income - Rental 0.00 0.00 0.00 0.00 0.00
Income - C.A.M. 0.00 0.00 0.00 0.00 0.00
Income - Insurance 0.00 0.00 0.00 0.00 0.00
Income - Taxes 0.00 0.00 0.00 0.00 0.00
Income - Interest 0.00 0.00 0.00 0.00 0.00
Income - Other 0.00 0.00 0.00 0.00 0.00
Income - Condo Sales 0.00 0.00 0.00 0.00 0.00
Total Other Income 34,203.75 20,256.00 13,947.75 Explained above. 62,039.07 43,609.00

Total Revenue $297,934.75 $270,216.00 $27,718.75 Explained above. $583,370.08 $539,056.00
Expense
Managers Salary 11,618.56 12,689.00 1,070.44 Based on actual payroll cost. 23,413.84 25,378.00
Salaries 0.00 0.00 0.00 0.00 0.00
Maintenance Salary 11,172.74 11,403.00 230.26 23,974.42 22,806.00
Salary - Administrative 0.00 0.00 0.00 0.00 0.00
Commissions & Bonus 3,807.35 3,425.00 (382.35) We had a few hours of overtime due to 8,524.35 6,430.00
snow removal.
Payroll Taxes 0.00 0.00 0.00 0.00 0.00
Group Insurance 1,490.46 1,720.00 229.54 We have less participants for our 2,980.92 3,440.00
insurance program then what was
anticipated in the budget.
Disability Insurance 0.00 0.00 0.00 0.00 0.00
401k Match 0.00 0.00 0.00 0.00 0.00
Contract Labor 0.00 1,000.00 1,000.00 No extra help needed for this month. 21.23 2,000.00
Workers Comp 0.00 0.00 0.00 0.00 0.00
Total Salary Expense 28,089.11 30,237.00 2,147.89 Explained above. 58,914.76 60,054.00

Office Operations & Supplies 0.00 850.00 850.00 1,040.43 1,700.00
Telephones 1,200.38 743.00 (457.38) Waiting on credit for new phones. 2,412.01 1,486.00
Answering Svc. & Pagers 56.83 98.00 41.17 182.66 196.00
Postage & Delivery 196.82 211.00 14.18 485.48 422.00
Patrol Services 0.00 0.00 0.00 0.00 0.00
Membership Dues 0.00 0.00 0.00 0.00 0.00
Publications & Subscriptions 84.00 114.00 30.00 121.00 228.00
Conventions/Seminars 0.00 0.00 0.00 0.00 0.00
Employee Training 65.00 350.00 285.00 Grace Hill training expense. 139.64 700.00
Furniture Rental 0.00 0.00 0.00 0.00 0.00
Car Expenses 0.00 38.00 38.00 No expense for this month. 0.00 76.00
Permits & Fees 0.00 0.00 0.00 0.00 0.00
Credit Checks 561.00 324.00 (237.00) We had 35 credit checks run for this 942.95 612.00
month, verses 15 budgeted for.
Guest Suite Expense 668.32 550.00 (118.32) 1,168.09 1,150.00
Parking Cost 0.00 0.00 0.00 0.00 0.00
Total Operating Expense 2,832.35 3,278.00 445.65 Explained above. 6,492.26 6,570.00

Advertising & Promotions 1,961.49 3,500.00 1,538.51 Savings due to dropping Apartment 3,012.49 11,000.00
Guide subscription.
Resident Promotions 80.84 400.00 319.16 No party planned for this month. 340.75 900.00
Locators 2,591.50 1,446.00 (1,145.50) Seven locators used versus four 6,561.31 2,169.00
budgeted.
Resident Referrals 250.00 500.00 250.00 One referral used, cut the cost of 500.00 1,000.00
referrals at the beginning of the year to
$250.
Total Advertising Expense 4,883.83 5,846.00 962.17 10,414.55 15,069.00

Paint & Drywall 165.10 225.00 59.90 190.22 432.00
Contract Cleaning Svcs. 2,565.00 2,859.00 294.00 Based on actual expense. 5,390.00 5,718.00
Carpet Cleaning & Repairs 120.00 1,038.00 918.00 Less carpets cleaned due to more 440.00 1,993.00
needing replacement.
Window Coverings 0.00 270.00 270.00 356.36 540.00
Vinyl & Tile Repairs 0.00 0.00 0.00 0.00 0.00
Lock & Keys 0.00 85.00 85.00 0.00 170.00
Counter & Tub Resurfacing 323.00 417.00 94.00 Refinishing of counter top in apartment 373.00 834.00
#9210.
Other Redecorating 0.00 0.00 0.00 0.00 0.00
Cleaning Supplies 230.41 158.00 (72.41) 281.29 316.00
Total Make Ready Expense 3,403.51 5,052.00 1,648.49 7,030.87 10,003.00

General Maintenance & Supplies 241.89 689.00 447.11 789.92 1,288.00
HVAC Parts & Repairs 52.85 100.00 47.15 52.85 300.00
Plumbing Parts & Repairs 47.36 120.00 72.64 333.56 240.00
Electric Parts & Repairs 0.00 50.00 50.00 252.62 90.00
Roof & Gutter Repairs 0.00 0.00 0.00 0.00 0.00
Pools & Fountains 169.88 100.00 (69.88) 169.88 200.00
Gates & Entrances 0.00 10.00 10.00 0.00 20.00
Glass & Screens 0.00 0.00 0.00 0.00 260.00
Appliance Parts & Repairs 514.57 300.00 (214.57) More parts ordered then anticipated in 787.62 600.00
the budget.
Hardware 1.92 120.00 118.08 28.65 240.00
Exterior Painting 0.00 0.00 0.00 0.00 0.00
Uniforms 0.00 0.00 0.00 0.00 0.00
Elevator Service & Repairs 0.00 0.00 0.00 0.00 0.00
Security & Fire Systems 3,232.75 450.00 (2,782.75) Replacement of two new batteries in 3,248.95 900.00
building 17 as well as a new fire panel
for building one.
Uninsured Losses 0.00 0.00 0.00 0.00 0.00
Locks & Keys 0.00 0.00 0.00 0.00 0.00
Bulbs & Ballasts 0.00 0.00 0.00 0.00 0.00
Total Maintenance Expense 4,261.22 1,939.00 (2,322.22) 5,664.05 4,138.00

Landscape & Grounds 0.00 0.00 0.00 0.00 0.00
Trash Removal 731.92 755.00 23.08 1,287.65 1,510.00
Pest Control 153.00 205.00 52.00 239.00 410.00
Security Patrols 0.00 0.00 0.00 0.00 0.00
Window Cleaning Svc. 0.00 0.00 0.00 0.00 0.00
Interior Cleaning Svc. 0.00 0.00 0.00 0.00 0.00
Cable Television 0.00 0.00 0.00 0.00 0.00
Snow Removal 330.66 3,500.00 3,169.34 One trip of snow removal needed. 6,396.86 7,000.00
Total Service Expense 1,215.58 4,460.00 3,244.42 7,923.51 8,920.00

Expenses - CAM - Electric 0.00 0.00 0.00 0.00 0.00
Expenses - CAM - Water/Sewer 0.00 0.00 0.00 0.00 0.00
Expenses - CAM - Gas 0.00 0.00 0.00 0.00 0.00
Expenses - CAM - Grounds 0.00 0.00 0.00 0.00 0.00
Expenses - CAM - Trash Removal 0.00 0.00 0.00 0.00 0.00
Expenses - CAM - Cleaning Svcs 0.00 0.00 0.00 0.00 0.00
Expenses - CAM - Maintenance 0.00 0.00 0.00 0.00 0.00
Expenses - CAM - Insurance 0.00 0.00 0.00 0.00 0.00
Expenses - CAM - R/E Taxes 0.00 0.00 0.00 0.00 0.00
Total CAM Expense 0.00 0.00 0.00 0.00 0.00

Management Fees 11,917.39 10,809.00 (1,108.39) Based on % of collections. 23,277.95 21,563.00
No Name 0.00 0.00 0.00 0.00 0.00
No Name 0.00 0.00 0.00 0.00 0.00
Legal Fees (901.34) 200.00 1,101.34 This includes an accrual of $1,623 for 263.56 600.00
the month of February.
Accounting Fees 0.00 0.00 0.00 0.00 0.00
Postage & Delivery 0.00 0.00 0.00 0.00 0.00
Bank Charges 0.00 0.00 0.00 0.00 0.00
Partnership Insurance 0.00 0.00 0.00 0.00 0.00
Other Administrative Expenses 0.00 0.00 0.00 0.00 0.00
Travel Expense 0.00 0.00 0.00 0.00 0.00
Employee Activities 0.00 0.00 0.00 0.00 0.00
Printing 0.00 0.00 0.00 0.00 0.00
Computer Consulting 0.00 0.00 0.00 0.00 0.00
Computer Expense 0.00 0.00 0.00 0.00 0.00
Bank Charges 0.00 0.00 0.00 0.00 0.00
Development Cost 0.00 0.00 0.00 0.00 0.00
Total Admin. Expense 11,016.05 11,009.00 (7.05) 23,541.51 22,163.00

Electricity 3,457.01 3,250.00 (207.01) 7,497.15 6,500.00
Electricity Gas - Resident 0.00 0.00 0.00 0.00 0.00
Natural Gas 3,487.42 1,967.00 (1,520.42) Based on actual expense, higher due 7,296.30 3,934.00
to the cold weather.
Water & Sewer 16,771.41 20,000.00 3,228.59 Savings due to Arapahoe County 30,307.68 40,000.00
underestimating actual water billing
usage.
Water & Sewer - Resident Reimb (9,812.59) (13,600.00) (3,787.41) Many residents disputing errors from (26,059.76) (27,200.00)
Arapahoe County water readings and
not paying the correct amount at this
time.
Water - irrigation 0.00 0.00 0.00 74.35 0.00
Electric - Tenant Reimbursement 0.00 0.00 0.00 0.00 0.00
Trash Reimbursement (2,206.42) (2,400.00) (193.58) (4,506.56) (4,800.00)
Water - Tenant Reimbursement 0.00 0.00 0.00 0.00 0.00
Utility -Vacant Electric 886.14 1,415.00 528.86 Occupancy higher than budgeted. 2,326.00 2,920.00
Utility - Vacant Gas 811.79 849.00 37.21 1,373.57 1,752.00
Tenant Reimbursement - Gas 0.00 0.00 0.00 0.00 0.00
Total Utility Expense 13,394.76 11,481.00 (1,913.76) Explained above. 18,308.73 23,106.00

Management Fees 0.00 0.00 0.00 0.00 0.00
Management Fees-MRLL 0.00 0.00 0.00 0.00 0.00
Property Legal Fees 1,059.00 0.00 (1,059.00) 2008 entity compliance fees assessed. 1,896.50 0.00

Credit Card Fees 362.44 0.00 (362.44) Actual credit card fees charged. 940.55 0.00
Bank Charges 0.00 0.00 0.00 0.00 0.00
Bank Adjustments 0.00 0.00 0.00 0.00 0.00
Other Professional Fees 0.00 0.00 0.00 0.00 0.00
Late Charges 0.00 0.00 0.00 0.00 0.00
HOA Assessment Fees 0.00 0.00 0.00 0.00 0.00
Contributions 0.00 0.00 0.00 0.00 0.00
Fiduciary Fees 0.00 0.00 0.00 0.00 0.00
Custodial Fees 0.00 0.00 0.00 0.00 0.00
Thunder Expense 0.00 0.00 0.00 0.00 0.00
Accounting Fees 0.00 0.00 0.00 0.00 0.00
Total Management Expense 1,421.44 0.00 (1,421.44) Explained above. 2,837.05 0.00

Property Taxes 30,188.47 30,188.00 (0.47) 60,376.94 60,376.00
Franchise Tax 0.00 0.00 0.00 0.00 0.00
Insurance 4,815.99 4,850.00 34.01 9,656.46 9,700.00
Tax Consultants 0.00 57.00 57.00 0.00 114.00
MIP 0.00 0.00 0.00 0.00 0.00
Total Taxes & Insurance 35,004.46 35,095.00 90.54 70,033.40 70,190.00
Total Operating Expenses 105,522.31 108,397.00 2,874.69 211,160.69 220,213.00
NET OPERATING INCOME 192,412.44 161,819.00 30,593.44 372,209.39 318,843.00

Base Rent - Interest Payment 106,586.67 106,587.00 0.33 213,173.34 213,174.00
Base Rent - Principal Payment 0.00 0.00 0.00 0.00 0.00
Stated Rent 86,666.71 86,667.00 0.29 173,333.42 173,334.00
Office Rent 0.00 0.00 0.00 0.00 0.00
Total Rent Expense 193,253.38 193,254.00 0.62 386,506.76 386,508.00

Mortgage Interest 0.00 0.00 0.00 0.00 0.00
Loan Fees 0.00 0.00 0.00 0.00 0.00
Interest Expense 0.00 0.00 0.00 0.00 0.00
Interest Expense 0.00 0.00 0.00 0.00 0.00
Total Debt Service 0.00 0.00 0.00 0.00 0.00

Partnership Legal Fees 0.00 0.00 0.00 0.00 0.00
Partnership Accounting Fees 0.00 0.00 0.00 0.00 0.00
Partnership Travel 237.43 200.00 (37.43) 755.93 400.00
Partnership - Meals 101.53 0.00 (101.53) 101.53 0.00
Partnership Fees - Other 0.00 0.00 0.00 0.00 0.00
Partnership Expense 0.00 0.00 0.00 0.00 0.00
Due Diligence Cost 0.00 0.00 0.00 0.00 0.00
Dead Deal Cost 0.00 0.00 0.00 0.00 0.00
Asset Management Fees 1,000.00 1,000.00 0.00 2,000.00 2,000.00
Investor Administration Fee 3,200.00 3,250.00 50.00 6,400.00 6,500.00
Partnership Exp- Leaseup Costs 0.00 0.00 0.00 0.00 0.00
Total Partnership Expense 4,538.96 4,450.00 (88.96) 9,257.46 8,900.00

Exterior Rehab 0.00 0.00 0.00 1,993.00 0.00
Interior Rehab 0.00 0.00 0.00 0.00 0.00
HVAC Replacement 0.00 0.00 0.00 0.00 0.00
Carpet & Floor Replacement 2,700.47 5,000.00 2,299.53 We replaced three carpets and had 5,398.79 10,000.00
four budgeted.
Refrigerators 0.00 0.00 0.00 0.00 0.00
Dishwashers & Ranges 0.00 259.00 259.00 0.00 259.00
Washers / Dryers 0.00 0.00 0.00 296.29 339.00
Fire Alarm Replacement 0.00 0.00 0.00 0.00 0.00
Other Capital Improvements 202.76 2,139.00 1,936.24 Savings due not replacing treadmill at 4,948.79 2,139.00
this time.
Boiler Replacement 0.00 0.00 0.00 0.00 0.00
Roof Replacement 0.00 0.00 0.00 0.00 0.00
Total Capital Expenses 2,903.23 7,398.00 4,494.77 12,636.87 12,737.00

Casualty Losses 0.00 0.00 0.00 0.00 0.00
Casualty Recovery 0.00 0.00 0.00 0.00 0.00
Total Casualty Loss 0.00 0.00 0.00 0.00 0.00
NET INCOME (LOSS) (8,283.13) (43,283.00) 34,999.87 (36,191.70) (89,302.00)

Rental Guarantee 0.00 0.00 0.00 0.00 0.00
(8,283.13) (43,283.00) 34,999.87 (36,191.70) (89,302.00)
Annual
$ Variance Budget YTD Variance Comment Filter
0.01
0.00 3,587,640.00 1,766,460.00
(17,558.00) 74,283.00 36,543.00

(17,558.00) 3,661,923.00 1,803,003.00
0.00 0.00 0.00
0.00 0.00 0.00
27,374.50 (253,425.00) (124,952.64)

11,575.52 (42,000.00) (18,858.96)

0.00 0.00 0.00
0.00 0.00 0.00
(13,173.18) (18,910.00) (25,519.76)
0.00 (23,760.00) (11,880.00)
0.00 0.00 0.00
0.40 (23,220.00) (11,609.40)
0.00 0.00 0.00
1,955.00 (13,920.00) (5,005.00)
15,709.77 (205,887.00) (74,708.23)

0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
$25,884.01 $3,080,801.00 1,530,469.01
1.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
1,947.99 21,791.00 12,041.94

71.00 9,450.00 3,587.00
1,087.74 11,120.00 5,877.74

0.00 0.00 0.00
801.00 19,796.00 8,622.00

7,590.00 13,500.00 10,090.00

1,255.25 8,000.00 4,374.10

0.00 0.00 0.00
(3,489.00) 3,489.00 3,489.00
1,457.68 41,160.00 23,064.39

0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
531.00 81,480.00 41,572.17
0.00 0.00 0.00
2,163.37 5,700.00 7,651.74

0.00 0.00 0.00
0.00 0.00 0.00
(600.00) 4,100.00 900.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
3,280.00 33,880.00 16,370.00

2,409.04 30,000.00 20,017.74

(75.00) 6,625.00 2,450.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
18,430.07 290,091.00 160,107.82
1.00
$44,314.08 $3,370,892.00 1,690,576.83
1.00
1.00
1,964.16 154,548.00 73,099.40
0.00 0.00 0.00
(1,168.42) 138,888.00 69,356.16
0.00 0.00 0.00
(2,094.35) 46,633.00 22,186.70

0.00 0.00 0.00
459.08 20,640.00 9,631.38

0.00 0.00 0.00
0.00 0.00 0.00
1,978.77 5,000.00 3,021.23
0.00 0.00 0.00
1,139.24 365,709.00 177,294.87
1.00
659.57 10,200.00 3,590.43
(926.01) 8,916.00 5,841.39
13.34 1,176.00 533.49
(63.48) 2,532.00 1,315.30
0.00 0.00 0.00
0.00 0.00 0.00
107.00 1,368.00 547.00
0.00 0.00 0.00
560.36 4,150.00 1,254.64
0.00 0.00 0.00
76.00 456.00 114.00
0.00 0.00 0.00
(330.95) 4,848.00 2,439.95

(18.09) 6,450.00 3,536.41
0.00 0.00 0.00
77.74 40,096.00 19,172.61
1.00
7,987.51 44,000.00 19,473.98

559.25 5,400.00 1,721.59
(4,392.31) 16,070.00 12,767.81

500.00 5,500.00 2,250.00

4,654.45 70,970.00 36,213.38
1.00
241.78 4,217.00 1,012.32
328.00 34,308.00 16,532.00
1,553.00 19,446.00 3,591.00

183.64 3,240.00 1,166.36
0.00 0.00 0.00
170.00 1,020.00 255.00
461.00 5,004.00 1,947.00

0.00 0.00 0.00
34.71 1,896.00 985.70
2,972.13 69,131.00 25,489.38
1.00
498.08 8,611.00 3,008.81
247.15 2,300.00 505.70
(93.56) 1,440.00 740.92
(162.62) 540.00 392.62
0.00 3,000.00 0.00
30.12 4,200.00 639.76
20.00 150.00 30.00
260.00 1,820.00 260.00
(187.62) 3,600.00 2,202.19

211.35 1,400.00 390.57
0.00 355.00 0.00
0.00 600.00 0.00
0.00 0.00 0.00
(2,348.95) 14,555.00 7,831.70

0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
(1,526.05) 42,571.00 16,002.27
1.00
0.00 29,581.00 0.00
222.35 9,060.00 4,284.57
171.00 2,760.00 1,007.00
0.00 2,775.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
603.14 19,500.00 17,227.52
996.49 63,676.00 22,519.09
1.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00
(1,714.95) 134,836.00 67,567.34
0.00 0.00 0.00
0.00 0.00 0.00
336.44 2,800.00 162.22

0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 3,060.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
(1,378.51) 140,696.00 67,729.56
1.00
(997.15) 40,500.00 20,704.16
0.00 0.00 0.00
(3,362.30) 23,604.00 16,684.72

9,692.32 240,000.00 107,079.09

(1,140.24) (163,200.00) (76,672.35)

(74.35) 37,400.00 74.35
0.00 0.00 0.00
(293.44) (25,696.00) (13,912.98)
0.00 0.00 0.00
594.00 12,108.00 7,547.14
378.43 7,837.00 13,039.00
0.00 0.00 0.00
4,797.27 172,553.00 66,290.49
1.00
0.00 0.00 0.00
0.00 0.00 0.00
(1,896.50) 0.00 2,955.50

(940.55) 0.00 1,302.99
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
(2,837.05) 0.00 4,258.49
1.00
(0.94) 362,256.00 181,129.41
0.00 0.00 0.00
43.54 58,200.00 29,022.45
114.00 684.00 171.00
0.00 0.00 0.00
156.60 421,140.00 210,322.86
9,052.31 1,386,542.00 645,293.00
53,366.39 1,984,350.00 1,045,283.83
1.00
0.66 1,443,999.00 639,521.01
0.00 0.00 0.00
0.58 1,040,004.00 520,001.13
0.00 0.00 0.00
1.24 2,484,003.00 1,159,522.14
1.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00
0.00 0.00 0.00
0.00 365.00 0.00
(355.93) 2,400.00 1,593.36
(101.53) 0.00 203.06
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 12,000.00 6,000.00
100.00 39,000.00 19,350.00
0.00 0.00 0.00
(357.46) 53,765.00 27,146.42
1.00
(1,993.00) 16,846.00 1,993.00
0.00 0.00 0.00
0.00 1,800.00 0.00
4,601.21 66,000.00 23,099.26

0.00 1,450.00 0.00
259.00 1,734.00 518.00
42.71 1,017.00 635.29
0.00 0.00 0.00
(2,809.79) 11,899.00 9,429.55

0.00 0.00 0.00
0.00 0.00 0.00
100.13 100,746.00 35,675.10
1.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
53,110.30 (654,164.00) (177,059.83)
1.00
0.00 0.00 0.00
53,110.30 (654,164.00) 0.00
USA Courtney Downs LeaseCo, LLC
Cash Flow (Actual + Budget)
Books = Accrual
For the 12 Months Ending Dec 2008

Jan 2008 Feb 2008 Mar 2008 Apr 2008 May 2008 Jun 2008 Jul 2008 Aug 2008 Sep 2008 Oct 2008 Nov 2008 Dec 2008 12 Month $/ $/ Dec 2006 12 Month $/ $/
Account Actual Actual Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Total Unit Sq. Ft. Reforecast Total Unit Sq. Ft.
342 313,778 342 313,778
Revenue
Gross Potential Rent 297,252 295,197 294,829 306,464 306,275 305,987 305,250 305,131 304,686 304,342 304,117 303,954 3,633,484 10,624.22 11.58 364,160 4,616,351 13,498.10 14.71
- Vacancy (14,979) (13,515) (12,201) (21,510) (19,986) (17,809) (15,591) (15,591) (16,802) (19,995) (22,418) (23,078) (213,475) (624.20) (0.68) (43,000) (302,596) (884.78) (0.96)
- Concessions & Disc. (10,069) (8,145) (267) (17,298) (15,717) (17,444) (19,316) (21,188) (22,560) (23,621) (24,370) (24,994) (204,989) (599.38) (0.65) (80,000) (334,953) (979.40) (1.07)
- Other Write-offs & Adj. (14,603) (9,805) (5,576) (6,677) (6,695) (6,696) (6,693) (6,681) (6,663) (6,634) (6,614) (6,605) (89,943) (262.99) (0.29) (6,085) (109,510) (320.21) (0.35)
Total Rental Income 257,600 263,731 276,786 260,979 263,877 264,038 263,650 261,671 258,661 254,092 250,715 249,277 3,125,077 9,137.65 9.96 235,075 3,869,291 11,313.72 12.33

Other Income 27,835 34,204 26,056 22,698 26,852 27,912 25,305 27,910 23,739 22,628 24,013 20,220 309,372 904.60 0.99 19,000 373,511 1,092.14 1.19
Total Revenue 285,435 297,935 302,841 283,677 290,729 291,950 288,955 289,581 282,400 276,720 274,728 269,497 3,434,449 10,042.25 10.95 254,075 4,242,802 12,405.85 13.52

Operating Expenses
Salary Expense 30,826 28,089 30,477 30,392 29,567 31,117 31,434 31,434 30,692 29,929 30,554 30,059 364,570 1,065.99 1.16 37,759 464,009 1,356.75 1.48
Operating Expense 3,660 2,832 3,226 3,348 3,460 3,520 3,544 3,444 3,336 3,264 3,204 3,180 40,018 117.01 0.13 3,030 49,549 144.88 0.16
Advertising Expense 5,531 4,884 6,525 5,801 5,901 6,105 6,327 6,227 5,340 4,685 4,731 4,259 66,316 193.91 0.21 6,885 82,385 240.89 0.26
Make Ready Expense 3,627 3,404 5,355 5,708 6,163 6,062 6,819 6,819 6,289 5,961 5,102 4,850 66,159 193.45 0.21 7,500 83,805 245.04 0.27
Maintenance Expense 1,403 4,261 2,510 3,115 4,490 3,885 2,920 2,730 2,513 12,210 2,672 1,388 44,097 128.94 0.14 2,295 50,581 147.90 0.16
Service Expense 6,708 1,216 4,460 13,323 6,678 4,985 4,985 4,985 3,960 3,960 3,960 3,460 62,680 183.27 0.20 2,395 72,678 212.51 0.23
Administrative Expense 12,525 11,016 11,744 11,547 11,829 11,878 14,818 11,783 11,496 11,269 11,189 10,980 142,075 415.42 0.45 14,969 179,628 525.23 0.57
Utility Expense 4,914 13,395 10,310 16,246 17,308 17,127 16,930 16,130 16,228 16,240 11,437 11,491 167,756 490.51 0.53 10,900 202,075 590.86 0.64
Credit Card Fees 1,416 1,421 0 0 0 0 0 0 0 0 0 0 2,837 8.30 0.01
Taxes & Insurance 35,029 35,004 35,095 35,095 35,095 35,095 35,095 35,095 35,095 35,095 35,095 35,095 420,983 1,230.95 1.34 0 422,216 1,234.55 1.35
37,237 37,237 108.88 0.12
Total Operating Exp. 105,638 105,522 109,702 124,575 120,491 119,774 122,872 118,647 114,949 122,613 107,944 104,762 1,377,490 4,027.75 4.39
Net Operating Income 179,797 192,412 193,139 159,102 170,238 172,176 166,083 170,934 167,451 154,107 166,784 164,735 2,056,959 6,014.50 6.56 122,970 1,644,162 4,807.49 5.24
131,106 2,598,640 7,598.36 8.28
Rent Expense 193,253 193,253 193,254 193,254 193,254 216,819 216,819 216,819 216,819 216,819 216,819 216,819 2,484,002 7,263.16 7.92
Partnership Expense 4,719 4,539 4,450 4,450 4,815 4,450 4,450 4,450 4,450 4,450 4,450 4,450 54,122 158.25 0.17 193,254 256,435 749.81 0.82
Capital Expense 9,734 2,903 8,268 12,546 12,458 8,074 17,804 6,600 6,259 6,000 5,000 5,000 100,646 294.29 0.32 0 110,940 324.39 0.35
3,300 3,300 9.65 0.01
Cash Flow Frm Operations (27,909) (8,283) (12,833) (51,148) (40,289) (57,167) (72,990) (56,935) (60,077) (73,162) (59,485) (61,534) (581,811) (1,701.20) (1.85)
(65,449) 2,227,964 6,514.52 7.10
Rental Guarantees 0 0 0 0 0 0 0 0 0 0 0 0 0
250,000 250,000
Balance Sheet Adjustments
Cash - Non Operating Accounts 0 0 0 0 0 0 0 0 0 0 0 0 0
Accounts Receivable (1,895) 2,740 0 0 0 0 0 0 0 0 0 0 845 0 845
Prepaid Assets (50,394) 4,840 0 0 0 0 0 0 0 0 0 0 (45,554) 0 (45,554)
Escrow Deposits (35,800) (35,800) (7,125) (7,125) (7,125) (7,125) (7,125) (7,125) (7,125) (7,125) (7,125) (7,125) (142,851) 0 (157,101)
(2,951) (2,951)
Cash Increase (Decreae) From Assets (88,090) (28,220) (7,125) (7,125) (7,125) (7,125) (7,125) (7,125) (7,125) (7,125) (7,125) (7,125) (187,560)
(2,951) (204,761)
Accounts Payable (22,965) 2,827 0 0 0 0 0 0 0 0 0 0 (20,138)
Accrued Expenses 20,453 31,811 0 0 0 0 0 0 0 0 0 0 52,265 0 52,265
Other Payables 920 2,385 0 0 0 0 0 0 0 0 0 0 3,305 0 3,305
Mortgages Payable 48,905 (6,027) 0 0 0 0 0 0 0 0 0 0 42,878 0 42,878
0 0
Cash Increase (Decrease) From Liab. 47,313 30,997 0 0 0 0 0 0 0 0 0 0 78,310
0 98,448

NET CASH FLOW (68,685) (5,507) (19,958) (58,273) (47,414) (64,292) (80,115) (64,060) (67,202) (80,287) (66,610) (68,659) (691,061)
CUMM. NET CASH FLOW 13,834 8,327 (11,631) (69,904) (117,318) (181,610) (261,725) (325,785) (392,987) (473,274) (539,884) (608,543) 181,601 2,371,651
181,601
82518.64

$700,000

$600,000

$500,000

$400,000

$300,000

$200,000

$100,000

$-

$(100,000)

$(200,000)

$(300,000)
Jan 2008 Feb 2008 Mar 2008 Apr 2008 May 2008 Jun 2008 Jul 2008 Aug 2008 Sep 2008 Oct 2008 Nov 2008 Dec 2008

Row 60 Row 61

Units
Sq. Ft.
### 384807

bayclub2 160 146,080
castlep 356 384,807
cedar 300 274,080
congress 257 254,074
jackson 247 221,730
lee 10 22,160
rem 428 398,868
ric 5 24,952
parkside 300 305,832
polo 440 403,761
sat 440 548,750
sweet 240 264,892
trailapt 280 286,056
vlgcrest 120 108,276
walnut 284 254,103
westo 12 48,309
wind 346 433,196
usacourt 280 299,111
usawalcr 284 254,103
W31: administrator:
assume insurance increases by 50%

W48: administrator:
replacement reserve + reduction in tax escrow due to overage
Courtney Downs Apartments
February 08
LEASING & OCCUPANCY

NUMBER OF MOVE INS: 16 INCOME THIS MONTH: $297,934.75
NUMBER OF MOVE OUTS: 11 INCOME LAST MONTH: $285,435.00
NET FOR THE MONTH: 5 DIFFERENCE: $12,499.75

TOTAL # GARAGES 120
# GARAGES OCCUPIED 107
OCCUPIED/LEASED %: 95.03%/98.54% GARAGES OCCUPIED % 89%

SOURCE OF TRAFFIC: REASONS WHY PROSPECTS DID NOT LEASE:
Traffic Leased
APTGUIDE.COM 0 0 * Job Transfer 4
APARTMENT GUIDE 0 0 * Too expensive. 5
YELLOW PAGES 0 0 * Future/No Availability/Waiting list 6
OTHER. NET 7 1 * Just started looking. 8
BLUE BOOK 18 4 * Waiting for Home to Sell 4
RENT.NET 0 0 * Current Lease to Expire 3
LIVES IN AREA 22 6 * Needs Ground Floor 2
RESIDENT REFERRAL 8 2 * Moved Elsewhere 0
LOCATORS 9 3 * Will return with roommate or spouse 8
RENT.COM 4 2 * Realtor Looking for Client 0
WALK-IN 3 5 * Undecided 0
SIGNAGE 3 5 * Employment pending 3
WORD OF MOUTH 0 0 * House sale pending 3
* Rented at Competitor 0
TOTALS 74 28 TOTALS 46

CLOSING RATIO: 38%

MARKETING ACTIVITIES & SOURCES FOR THE MONTH

* Updated all internet ads with new pricing and specials for the month of February.
* Took lunch to locators with updates on specials and prices..
* Brochures and treat bags were taken over to First Data.
* Took brochures and prices to Newman Homes Team.
* Took brochures and prices to King Soopers for employee break room.
* Brochures and donuts were taken to Mike Shaw Motors staff.
* Met with David Weekly sales team with options of temporary housing for new home buyers.
* Dropped off muffins and brochures to Wells Fargo team.
* Dropped off doughnuts and brochures to Centennial airport "tack air office".
* Took cookie and candy bag with flyer's to Holiday Inn Express.
* Took brochures and prices to Lerado Homes for short term leasing for new home buyers.
* Took cookie and candy bag to Marriott extended stay hotels.
OVERVIEW OF COMPARABLE PROPERTIES:
The surrounding comps are still offering discounted rents on selected units.
This translates into one bedroom effective rents of $710, two bedrooms at $905 and three bedrooms starting at $1055.
Look and leases specials are 1/2 month off with a 12 to 13 month lease.
Overall market is 92.5% average occ. and rental rate of $836. per month.
RESIDENT RETENTION:
We had 22 leases expiring in the month of February. Nine renewed leases with a $35 increase.
Notices received; (3) buying homes, (1) relocating out of the area, (2) job change, (1) skipped, (2) TOS
(2) Too expensive, (1) saftey and (1) did not hear from.

INCIDENTS ON THE PROPERTY:
N/A
MAINTENANCE: ROUTINE REPLACEMENTS:
Number
Number of: Replaced Apt. #
MARKET READY UNITS 13 REFRIGERATORS 0
COMPLETE PAINTS 8 DISHWASHERS 0
TOUCH UPS 5 WINDOWS 0
WORK ORDERS 139 A/C COMPRESSORS 0
Pending Completed 0 CONDENSING UNITS 0
Misc 0 13 13 WATER HEATERS 0
Electrical 0 15 15 ICE MAKERS 0
Punch 0 13 13 GARBAGE DISPOSALS 0
HVAC 0 22 22 MICROWAVES 0
Plumbing 0 63 63 CARPETS 4 7203, 6212, 16206, 2104.
Property Ext. 0 0 0 CEILING FANS 0
Appliances 0 11 11 TOILETS 0
Safety 0 2 2 A/C FAN MOTORS 0
Total 0 139 139 COUNTER TOPS 1 9210
ROOF LEAKS 0 CABINETS RESURFACED KITCHEN 0
7207-1, 2204-1, 9108-2, 13205-2,
6212-2, 16206-2, 7208-1, 16106-2,
PLUMBING LEAKS 0 BLINDS 15 9201-2.
TUBS RESURFACED 0
TUB TILES 0

CAPITAL IMPROVEMENTS IN PROGRESS:
N/A

PROBLEM AREAS NEEDING ATTENTION:
Trickel pans are cracking.
Parking lot has many new cracks.

CURRENT STAFF:

Manager Nancy Howland
Assistant Manager Carrie McMillan
Leasing Consultant Summer Wahrman
Leasing Consultant Kate Hawkins
Maintenance Supervisor Gabriel Tellez
Assistant Maintenance Russell Briley
Maintenance/ Grounds Jorge Chavez and Jorge Bernal

ACCOMPLISHMENTS FOR THE MONTH:
We are in the process of power washing all breezway's for the summer
Maintained 95% occupancy.
Collected $12,000 more in income this month than last month.
Courtney Downs
RENTAL SCHEDULE
February 08

EFFECTIVE EFFECTIVE EFFECTIVE Vacants Notice Net
UNIT TYPE #UNITS SIZE TOTAL MKT RENT MKT RENT MONTHLY ANNUAL CONCESSION CONCESSION PER S/F MONTHLY Vacants Leased Notice Leased Available
S/F PER UNIT PER S/F GROSS GROSS RENTS* PER UNIT GROSS
A1 1BR 40 704 28,160 725 1.03 $29,000 $348,000 725.00 1.03 $29,000 3 3 8 0 8
A1V 1BR 32 704 22,528 725 1.03 $27,520 $330,240 725.00 1.03 $27,520 0 0 0 0 0
A2 1BR 18 910 16,380 850 0.93 $15,300 $183,600 850.00 0.93 $15,300 3 2 2 0 3
B1 1BR 24 808 19,392 750 0.93 $18,000 $216,000 750.00 0.93 $18,000 1 1 3 2 1
B1V 1BR 32 808 25,856 760 0.94 $24,320 $291,840 760.00 0.94 $24,320 0 0 0 0 0
C 2BR 42 977 41,034 875 0.90 $36,750 $441,000 875.00 0.90 $36,750 5 2 5 0 8
C1 2BR 44 1,030 45,320 900 0.87 $39,600 $475,200 900.00 0.87 $39,600 2 1 8 2 7
C1V 2BR 22 1,030 22,660 925 0.90 $20,350 $244,200 925.00 0.90 $20,350 0 0 0 0 0
CV 2BR 24 977 23,448 875 0.90 $21,000 $252,000 875.00 0.90 $21,000 0 0 0 0 0
D 2BR 16 1,030 16,480 925 0.90 $14,800 $177,600 925.00 0.90 $14,800 0 0 8 4 4
DV 2BR 20 1,030 20,600 925 0.90 $18,500 $222,000 925.00 0.90 $18,500 0 0 0 0 0
E 3BR 24 1,140 27,360 1160 1.02 $27,840 $334,080 1,160.00 1.02 $27,840 1 1 6 1 5
EV 3BR 4 1,140 4,560 1160 1.02 $4,640 $55,680 1,160.00 1.02 $4,640 0 0 0 0 0

TOTAL 342 917 313,778 $870 $0.95 $297,620 $3,571,440 $870 0.95 $297,620 15 10 40 9 36
* Net of Concessions
MARKET SURVEY
Courtney Downs
February-08

Apartment Name Courtney Downs Coyote Ranch Windsor @ Meridian Pinnacle @ the Creek Dove Valley Cherrywood Village Reserve @ South Creek
Address 15849 E. Jamison Dr16363 E Freemont Ave 9875 Jefferson Pkwy 6107 S Parker Rd 7550 S Blackhawk 16950 E Carlson Dr 15611 E Jamison Dr
Phone 720-870-6114 303-693-8787 303-256-7700 303-766-2500 303-362-2000 303-805-7200 303-680-6696
Location Englewood, Co Aurora, Co Englewood, Co 80112 Centennial, Co Englewood, Co 80112 Parker, Co 80134 Englewood, Co 80112
# of units 342 507 653 216 312 360 168
Age of Property 5 5 7 4 6 6 6
Application Fee $50.00 $35.00 $40.00 $35.00 $40.00 $35.00 $50.00
Credit Card yes yes yes no yes no yes
Pets Allowed yes yes yes yes yes yes yes
Pet Deposit 300 n/r 300-600 150-300 $100 300-500 $400-500 300
Sec. Deposit 150 275-325 300 $300 $100.00 $200-300 100
W/D included Yes yes Only In Select Units Only Select Units no yes no
Covered Parking no yes yes yes no no no
Garage Detached yes yes yes yes yes yes
Cable Yes yes yes yes yes yes yes
Tennis Courts no no no no yes yes yes
# of pools 1 1 1 1 1 2 1
Weight Room yes yes yes yes yes yes yes
Jacuzzi yes 1 1 1 1 2 1
Ceiling Fans yes yes yes yes yes yes yes
Microwaves yes yes yes yes yes yes yes
Mini Blinds yes yes yes yes yes yes yes
FF Freezer yes yes yes yes yes yes yes
Icemakers yes yes yes yes yes yes yes
Fireplaces yes no yes yes yes yes yes
Access Gates no yes yes no yes yes yes
Alarm in Unit Prewired no yes yes yes no yes
Door to Door no no no no no no no
Aerobics/Kick Box no no no no no no no
Movie Room no yes yes yes yes yes yes
Computer Library yes yes yes yes yes yes yes
Indoor Basketball no no no no no no no
Water Charge yes no yes yes yes yes yes
MARKET SURVEY
Courtney Downs
February-08
(Concessions reduced rates)

PROPERTY: Courtney Downs Apt Coyote Ranch Windsor at Meridian Pinnacle @ the Creek Dove Valley Cherrywood Village Reserve@South Creek
PRICE SIZE PSF PRICE SIZE PSF PRICE SIZE PSF PRICE SIZE PSF PRICE SIZE PSF PRICE SIZE PSF PRICE SIZE PSF
Efficiency
Efficiency
1B1B (A) 725 704 1.03 755 779 0.97 715 627 1.14 750 685 1.09 755 768 0.98 710 707 1.00 710 763 0.93
1B1B (B) 850 808 1.05 795 853 0.93 725 701 1.03 815 705 1.02 765 842 0.91 730 796 0.92 727 763 1.05
1B1B w/study 750 910 0.82 835 811 0.91 820 760 1.03 780 992 0.79 760 916 0.83
1B
1B
1B w/loft
1B1B w/study 855 956 0.89 940 1051 0.89
2B2B (E) 875 977 0.90 940 1105 0.85 935 1044 0.90 980 1120 0.88 835 1115 0.75 815 1033 0.79 822 1037 0.79
2B2B (F) 900 1030 0.87 985 1192 0.83 985 1196 0.82 950 1220 0.78 910 1093 0.83 900 1037 1.23
2B2B (G) 925 1030 0.90 990 1180 0.84
2B2B (H)
2B2B
2B w/study
2B2B TH
2B2B TH
3B2B 1,160 1140 1.02 1055 1398 0.75 1185 1330 0.89 1040 1230 0.85 1120 1356 0.83 1195 1235 0.97 915 1257 0.73
3B2B 1190 1398 0.91 1305 1235 1.04 1045 1257 1.10

% occ /leased 95 98.54% 94% 96% 0 0% 94% 94.80% 93.0% 89% 94.7% 97% 93.1% 95%
Avg PSF 1 0.94 0.87 0.93 0.96 0.84 0.91 0.97
Avg Rents 884 1114 994 808 868 1131 995
/ Avail)
Units(Total 342 36 507 29 653 216 32 312 44 360 19 0 168 22

Special: $500 free gas
Special: look and lease card or giftcertificate to
special reduced pricing on Special: One month free Will not give out any Special:1/2 month free the mall w/look and lese Special: 1/2 month off 12 Special: One month free on a
Rates select units. on 12 to 13 month lease. information. with look and lease. special. to 13 month leases. 12 to 13 month special.
reflect these rates:
specials:

Ren.: 15% increase on all Ren: Info not avail per Ren: $35 to $80 increas Ren: Average $25 to $75 Ren: Free carpet cleaning
Ren: $50 to $75 increase. renewals. corporate Ren:Per corporate for 12 month lease increase. with 12mo.