You are on page 1of 59

USA Courtney Downs LeaseCo, LLC

Balance Sheet
Books = Accrual
Apr 2007

ASSETS

Cash
Operating Cash 61,251.31
Money Market 0.00
Security Deposits 48,774.71
Total Cash $110,026.02

OTHER ASSETS
Accounts Receivable 17,944.59
Prepaid Expenses 39,821.79
Tax Escrow 357,011.77
Replacement Reserves 68,630.43
Capital / Repair Escrow 200,000.00
Total Other Assets 683,408.58

Total ASSETS 793,434.60

LIABILITIES & CAPITAL

LIABILITIES
Accounts Payable - Trade 28,723.55
Other Accounts Payable 782,153.37
Accrued Taxes 450,480.43
Prepaid Rent 8,717.77
Security Deposits 48,774.71
Notes Payable (1,909.19)
Total Liabilities 1,316,940.64

CAPITAL

Owners Equity 100.00
Retained Earnings (523,606.04)
Total Capital (523,506.04)

Total LIABILITIES & CAPITAL 793,434.60
USA Courtney Downs LeaseCo, LLC
Cash Flow (Actual + Budget)
Books = Accrual
For the 12 Months Ending Dec 2007

Jan 2007 Feb 2007 Mar 2007 Apr 2007 May 2007 Jun 2007 Jul 2007 Aug 2007 Sep 2007 Oct 2007 Nov 2007 Dec 2007 12 Month $/ $/ Dec 2006 12 Month $/ $/
Account Actual Actual Actual Actual 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 352,560 345,950 343,190 338,114 351,675 351,070 350,465 349,860 349,255 348,650 348,045 347,440 4,176,274 12,211.33 13.31 364,160 5,248,144 15,345.45 16.73
- Vacancy (34,193) (31,453) (33,657) (26,399) (37,000) (40,000) (42,000) (42,000) (42,000) (42,000) (42,000) (42,000) (454,702) (1,329.54) (1.45) (43,000) (583,033) (1,704.78) (1.86)
- Concessions & Disc. (77,240) (77,177) (74,811) (68,736) (57,000) (59,743) (58,387) (54,989) (49,108) (46,826) (42,919) (39,555) (706,492) (2,065.77) (2.25) (80,000) (871,035) (2,546.89) (2.78)
- Other Write-offs & Adj. (5,251) (7,154) (5,738) (5,449) (5,211) (5,231) (5,235) (5,242) (5,252) (5,250) (5,253) (5,257) (65,523) (191.59) (0.21) (6,085) (82,310) (240.67) (0.26)
Total Rental Income 235,876 230,165 228,984 237,529 252,464 246,096 244,843 247,629 252,895 254,573 257,873 260,628 2,949,556 8,624.43 9.40 235,075 3,711,766 10,853.12 11.83

Other Income 27,580 21,616 22,944 22,832 16,000 24,415 24,915 21,695 20,545 20,545 20,545 20,195 263,827 771.43 0.84 19,000 324,340 948.36 1.03
Total Revenue 263,457 251,781 251,928 260,361 268,464 270,511 269,758 269,324 273,440 275,118 278,418 280,823 3,213,383 9,395.86 10.24 254,075 4,036,105 11,801.48 12.86

Operating Expenses
Salary Expense 33,611 20,391 30,933 32,195 26,715 30,089 28,026 27,426 30,872 26,976 27,014 30,347 344,596 1,007.59 1.10 37,759 440,724 1,288.67 1.40
Operating Expense 2,710 2,821 2,230 3,652 4,025 3,905 3,965 3,845 3,725 3,725 3,725 3,665 41,993 122.79 0.13 3,030 52,536 153.61 0.17
Advertising Expense 6,159 5,921 9,117 4,298 9,990 8,791 9,390 8,192 7,393 6,993 6,993 6,394 89,632 262.08 0.29 6,885 110,167 322.13 0.35
Make Ready Expense 3,805 2,722 3,636 6,647 4,095 4,095 4,875 4,095 3,803 3,705 3,803 2,828 48,107 140.66 0.15 7,500 62,378 182.39 0.20
Maintenance Expense 2,027 1,541 2,485 2,639 2,425 2,425 2,425 2,425 2,425 15,095 2,425 2,425 40,762 119.19 0.13 2,295 48,026 140.43 0.15
Service Expense 6,403 10,329 1,917 3,299 5,585 3,085 3,085 3,085 5,585 5,585 6,385 1,835 56,179 164.27 0.18 2,395 66,959 195.79 0.21
Administrative Expense 15,368 15,798 15,451 15,440 16,789 17,048 19,640 17,122 17,235 17,209 17,247 17,301 201,648 589.61 0.64 14,969 251,755 736.13 0.80
Utility Expense 9,370 15,941 12,794 6,685 8,463 12,763 13,713 13,713 12,776 8,388 8,001 8,051 130,661 382.05 0.42 10,900 157,995 461.97 0.50
Taxes & Insurance 37,910 33,542 33,143 33,465 32,739 32,739 32,739 32,739 32,739 32,739 32,739 32,739 399,974 1,169.52 1.27 0 401,145 1,172.94 1.28
37,237 37,237 108.88 0.12
Total Operating Exp. 117,362 109,007 111,705 108,319 110,826 114,941 117,860 112,644 116,553 120,416 108,332 105,585 1,353,551 3,957.75 4.31
Net Operating Income 146,094 142,774 140,223 152,043 157,638 155,570 151,898 156,680 156,887 154,702 170,086 175,237 1,859,832 5,438.11 5.93 122,970 1,628,922 4,762.93 5.19
131,106 2,407,184 7,038.55 7.67
Rent Expense 193,253 193,253 193,253 193,253 193,253 193,253 193,253 193,253 193,253 193,253 193,253 193,253 3,320 9.71 0.01
Partnership Expense 0 0 0 0 415 415 415 415 415 415 415 415 83,027 242.77 0.26 193,254 277,354 810.98 0.88
Capital Expense 1,601 4,113 10,791 8,376 7,446 21,300 4,900 4,900 4,900 4,900 4,900 4,900 0 0.00 0.00 0 9,800 28.65 0.03
3,300 3,300 9.65 0.01
Cash Flow Frm Operations (48,760) (54,592) (63,822) (49,586) (43,477) (59,398) (46,670) (41,888) (41,681) (43,867) (28,483) (23,331) 1,773,485 5,185.63 5.65
(65,449) 2,116,730 6,189.27 6.75
Rental Guarantees 7,543 (3,489) 0 0 0 0 0 0 0 0 0 0 0
250,000 250,000
Balance Sheet Adjustments
Cash - Non Operating Accounts 0 0 4,562 4,374 0 0 0 0 0 0 0 0 (8,155)
Accounts Receivable (4,571) (717) 131,540 (134,406) 0 0 0 0 0 0 0 0 (2,293) 0 (2,293)
Prepaid Assets (7,749) 3,588 6,328 (4,460) 0 0 0 0 0 0 0 0 (191,351) 0 (191,351)
Escrow Deposits (30,394) (34,568) (34,568) (34,822) (7,125) (7,125) (7,125) (7,125) (7,125) (7,125) (7,125) (7,125) 0 0 (14,250)
(2,951) (2,951)
Cash Increase (Decreae) From Assets (42,714) (31,697) 107,861 (169,314) (7,125) (7,125) (7,125) (7,125) (7,125) (7,125) (7,125) (7,125) (201,800)
(2,951) (210,846)
Accounts Payable 36,334 64,458 (135,734) 185,452 0 0 0 0 0 0 0 0 214,618
Accrued Expenses 41,830 25,859 110,449 36,480 0 0 0 0 0 0 0 0 (8,936) 0 (8,936)
Other Payables (1,829) (1,300) (1,433) (4,374) 0 0 0 0 0 0 0 0 (1,581) 0 (1,581)
Mortgages Payable 0 (11,458) (5,571) 15,448 0 0 0 0 0 0 0 0 0 0 0
0 0
Cash Increase (Decrease) From Liab. 76,334 77,559 (32,289) 233,006 0 0 0 0 0 0 0 0 204,101
0 (10,517)

NET CASH FLOW (7,597) (12,219) 11,751 14,106 (50,602) (66,523) (53,795) (49,013) (48,806) (50,992) (35,608) (30,456) 1,775,786
CUMM. NET CASH FLOW 47,614 35,395 47,146 61,251 10,650 (55,873) (109,669) (158,682) (207,488) (258,480) (294,087) (324,543) 181,601 2,145,367
55210.94 181,601

$700,000

$600,000

$500,000

$400,000

$300,000

$200,000

$100,000

$-

$(100,000)

$(200,000)

$(300,000)
Jan 2007 Feb 2007 Mar 2007 Apr 2007 May 2007 Jun 2007 Jul 2007 Aug 2007 Sep 2007 Oct 2007 Nov 2007 Dec 2007

Row 59 Row 60

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
W30: administrator:
assume insurance increases by 50%

W47: administrator:
replacement reserve + reduction in tax escrow due to overage
USA Courtney Downs LeaseCo, LLC
Budget Comparison
Books = Accrual
For the period ending April 30, 2007

MTD MTD YTD YTD Annual
Account Actual Budget $ Variance MTD Variance Comment Actual Budget $ Variance Budget
Revenue
Market Rent 294,410.00 352,280.00 (57,870.00) Variance due to 1,199,370.00 1,412,750.00 (213,380.00) 4,209,210.00
concessions no longer
being offered, market
rents changed to reflect
lower rents.
Loss / Gain to Lease 43,704.00 0.00 43,704.00 Variance due to the 180,444.00 0.00 180,444.00 0.00
changing the budget to
reflect lower market
rents. This will continue
to reduce over time as
last years concessions
deplete.
Gross Potential Rent 338,114.00 352,280.00 (14,166.00) 1,379,814.00 1,412,750.00 (32,936.00) 4,209,210.00
Prepaid Homeowners Dues 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Residential Rent 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Vacancy Loss (26,399.09) (30,785.38) 4,386.29 Vacncy averaged 8%, (125,702.30) (113,260.42) (12,441.88) (325,479.64)
budgeted 9%.
Upfront Rent Concessions (4,012.70) (7,830.00) 3,817.30 Current up front specials (14,245.34) (20,880.00) 6,634.66 (59,160.00)
is $350.00 off first
months rent, only with
look and lease.
Corporate Discount 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Delinquent Rent 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Adjustments & W/O (528.67) (625.31) 96.64 (3,909.49) (2,511.16) (1,398.33) (7,841.82)
Model Units (1,980.00) (1,625.00) (355.00) Current market rent on (7,920.00) (6,500.00) (1,420.00) (19,500.00)
the model unit floorplan.

Courtesy Officer Apt. 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Employee Apartment (1,780.80) (2,050.00) 269.20 (7,123.20) (8,200.00) 1,076.80 (24,600.00)
Housekeeping & Maintenance Fee 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Guest Suite (1,160.00) (900.00) (260.00) (4,640.00) (3,600.00) (1,040.00) (10,800.00)
Lease Term Concessions (64,723.49) (58,967.45) (5,756.04) Variance due to (283,718.60) (255,845.45) (27,873.15) (632,942.99)
concessions no longer
being offered, this will
reduce over time.
Homeowner's Assn Dues Income 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Homeowner Dues Paid 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Model Units 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Lease Contract Difference 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Rental Income $237,529.25 $249,496.86 $(11,967.61) $932,555.07 $1,001,952.97 $(69,397.90) $3,128,885.55

Laundry Income 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Vending Income 0.00 68.00 (68.00) 0.00 272.00 (272.00) 816.00
Covered Parking Income 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Late Charges & NSF Fees 1,570.84 1,650.00 (79.16) 4,840.84 6,600.00 (1,759.16) 19,800.00
Month to Month Premium 460.00 200.00 260.00 2,716.29 800.00 1,916.29 2,400.00
Storage Fees 869.69 960.00 (90.31) 3,205.73 3,840.00 (634.27) 11,520.00
Repair & Maintenance Fees 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Application Fees 1,360.00 1,050.00 310.00 5,150.00 2,950.00 2,200.00 10,250.00
Termination Fees & Damages (615.31) 1,000.00 (1,615.31) Residents not paying at 2,824.43 4,000.00 (1,175.57) 12,000.00
the time of move-out,
however all residents
are being turned over to
the collection agency.

Miscellaneous Income 605.21 1,160.00 (554.79) Credit card convenience 2,840.41 4,640.00 (1,799.59) 13,920.00
fees collected as well as
utility transfer fees.

Renters Insurance 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest Income 0.00 0.00 0.00 3,488.53 0.00 3,488.53 0.00
Pet Rents & Fees 3,568.57 2,456.00 1,112.57 Variance due to eight 12,471.96 9,824.00 2,647.96 29,472.00
pet fees budgeted for
and actual collected
where eleven.
Tower Rent 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Asset Management Fee 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Parking Spaces Income 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Homeowners Assessments 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Garage Income 6,654.00 6,650.00 4.00 26,684.14 26,600.00 84.14 79,800.00
Water/Sewer Income 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cable/Telephone Income 1,117.00 1,006.00 111.00 4,570.00 4,024.00 546.00 12,072.00
HOA Contributions Developer 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Developer HOA Dues 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Forfeited Deposits 1,262.50 90.00 1,172.50 Retained six deposits. 2,162.50 360.00 1,802.50 1,080.00
Developer Contributions 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest Income Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Thunder Income 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Administration Fee 3,150.00 3,600.00 (450.00) Variance due to 11,250.00 9,400.00 1,850.00 33,800.00
budgeted for 24
administration fees, and
actual collected was 21.
Move-Out Charges 2,369.53 5,550.00 (3,180.47) Variance due to 12,103.99 15,540.00 (3,436.01) 48,840.00
apartments being left in
better condition resulting
in fewer fees charged.

Short Term Lease Fees 460.00 450.00 10.00 663.57 1,500.00 (836.43) 3,600.00
Extra-Ordinary Income 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Corporate Rent 0.00 425.00 (425.00) 0.00 1,700.00 (1,700.00) 5,100.00
Corporate Units - expense 0.00 (1,750.00) 1,750.00 Property maintains a two 0.00 (7,000.00) 7,000.00 (21,000.00)
bedroom guest suite.

Deferred Revenue 0.00 0.00 0.00 0.00 0.00 0.00 0.00
HOA Developer Contributions 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Acquisition Fees 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Income - Rental 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Income - C.A.M. 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Income - Insurance 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Income - Taxes 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Income - Interest 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Income - Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Income - Condo Sales 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Other Income 22,832.03 24,565.00 (1,732.97) 94,972.39 85,050.00 9,922.39 263,470.00

Total Revenue $260,361.28 $274,061.86 $(13,700.58) $1,027,527.46 $1,087,002.97 $(59,475.51) $3,392,355.55

Expense
Managers Salary 11,113.54 12,013.16 899.62 Includes payroll accrual 44,791.64 48,052.64 3,261.00 147,761.88
thru 3/31.
Salaries 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Maintenance Salary 12,676.07 11,223.48 (1,452.59) Includes payroll accrual 54,006.96 44,893.92 (9,113.04) 138,048.78
thru 3/31.
Salary - Administrative 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Commissions & Bonus 6,687.03 2,700.00 (3,987.03) Includes payroll accrual 11,816.11 10,649.09 (1,167.02) 39,026.28
thru 3/31.
Payroll Taxes 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Group Insurance 1,596.00 778.00 (818.00) Includes one pay period 6,393.50 3,112.00 (3,281.50) 9,336.00
accrual.
Disability Insurance 0.00 0.00 0.00 0.00 0.00 0.00 0.00
401k Match 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Contract Labor 122.50 0.00 (122.50) 122.50 0.00 (122.50) 0.00
Workers Comp 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Salary Expense 32,195.14 26,714.64 (5,480.50) 117,130.71 106,707.65 (10,423.06) 334,172.94

Office Operations & Supplies 607.04 1,000.00 392.96 1,971.84 4,000.00 2,028.16 12,000.00
Telephones 728.77 1,100.00 371.23 2,886.87 4,400.00 1,513.13 13,200.00
Answering Svc. & Pagers 69.00 100.00 31.00 379.06 400.00 20.94 1,200.00
Postage & Delivery 287.38 170.00 (117.38) 944.93 680.00 (264.93) 2,040.00
Patrol Services 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Membership Dues 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Publications & Subscriptions 0.00 90.00 90.00 0.00 360.00 360.00 1,080.00
Conventions/Seminars 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Employee Training 438.27 115.00 (323.27) Variance due to Dec 1,412.79 460.00 (952.79) 1,380.00
2006 expense.
Furniture Rental 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Car Expenses 248.32 25.00 (223.32) Booking of January's, 385.44 100.00 (285.44) 300.00
February's and March
mileage riembursement
for associates.
Permits & Fees 0.00 25.00 25.00 0.00 100.00 100.00 300.00
Credit Checks 588.50 630.00 41.50 1,141.50 1,770.00 628.50 6,150.00
Guest Suite Expense 684.31 650.00 (34.31) 2,290.40 2,600.00 309.60 7,800.00
Parking Cost 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Operating Expense 3,651.59 3,905.00 253.41 11,412.83 14,870.00 3,457.17 45,450.00

Advertising & Promotions 3,516.42 2,600.00 (916.42) Purchased marketing 15,828.51 15,700.00 (128.51) 36,900.00
collateral not
anticipated. To be used
for outside marketing
and resident retention.
Includes print
advertising in local apt
guide, also grocery
store ads.
Resident Promotions 226.30 798.00 571.70 Includes tow months 1,682.73 3,192.00 1,509.27 9,576.00
billing for monthly
newsletter.
Locators 555.00 2,603.16 2,048.16 Budgeted eight fees, 5,383.39 6,797.14 1,413.75 24,440.78
actual reflects three
fees.
Resident Referrals 0.00 2,790.00 2,790.00 No refferals at this time. 2,600.00 7,285.00 4,685.00 26,195.00
Total Advertising Expense 4,297.72 8,791.16 4,493.44 25,494.63 32,974.14 7,479.51 97,111.78

Paint & Drywall 310.52 900.00 589.48 570.96 2,430.00 1,859.04 7,852.50
Contract Cleaning Svcs. 3,440.00 250.00 (3,190.00) We did not insert the 9,345.00 1,000.00 (8,345.00) 3,000.00
correct budget number.
Should be $2500.
Carpet Cleaning & Repairs 2,431.00 3,000.00 569.00 Budgeted for 17 carpet 5,666.00 8,100.00 2,434.00 26,175.00
cleans and actual
cleaned 14.
Window Coverings 295.50 100.00 (195.50) 659.83 400.00 (259.83) 1,200.00
Vinyl & Tile Repairs 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Lock & Keys 144.54 50.00 (94.54) 341.31 200.00 (141.31) 600.00
Counter & Tub Resurfacing 0.00 416.67 416.67 No services needed this 75.00 1,666.68 1,591.68 5,000.04
month.
Other Redecorating 0.00 25.00 25.00 0.00 100.00 100.00 300.00
Cleaning Supplies 24.95 133.33 108.38 151.15 533.32 382.17 1,599.96
Total Make Ready Expense 6,646.51 4,875.00 (1,771.51) 16,809.25 14,430.00 (2,379.25) 45,727.50

General Maintenance & Supplies 980.13 700.00 (280.13) 2,261.19 2,800.00 538.81 8,400.00
HVAC Parts & Repairs 0.00 100.00 100.00 1,039.72 400.00 (639.72) 1,200.00
Plumbing Parts & Repairs 43.26 140.00 96.74 336.25 560.00 223.75 5,055.00
Electric Parts & Repairs 0.00 150.00 150.00 0.00 600.00 600.00 1,800.00
Roof & Gutter Repairs 0.00 0.00 0.00 270.00 0.00 (270.00) 0.00
Pools & Fountains 362.09 450.00 87.91 596.58 1,800.00 1,203.42 5,400.00
Gates & Entrances 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Glass & Screens 0.00 160.00 160.00 500.48 640.00 139.52 1,920.00
Appliance Parts & Repairs 179.95 450.00 270.05 660.46 2,250.00 1,589.54 5,850.00
Hardware 73.56 75.00 1.44 149.87 300.00 150.13 900.00
Exterior Painting 0.00 25.00 25.00 355.34 100.00 (255.34) 300.00
Uniforms 1,000.00 1,000.00 0.00 1,045.40 1,000.00 (45.40) 2,000.00
Elevator Service & Repairs 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Security & Fire Systems 0.00 175.00 175.00 1,476.52 700.00 (776.52) 10,395.00
Uninsured Losses 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Locks & Keys 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Bulbs & Ballasts 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Maintenance Expense 2,638.99 3,425.00 786.01 8,691.81 11,150.00 2,458.19 43,220.00

Landscape & Grounds 2,500.00 2,500.00 0.00 2,500.00 2,500.00 0.00 30,000.00
Trash Removal 486.19 510.00 23.81 2,751.51 2,040.00 (711.51) 6,120.00
Pest Control 100.00 75.24 (24.76) 325.00 300.96 (24.04) 902.88
Security Patrols 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Window Cleaning Svc. 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interior Cleaning Svc. 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cable Television 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Snow Removal 212.50 500.00 287.50 16,370.42 3,800.00 (12,570.42) 5,850.00
Total Service Expense 3,298.69 3,585.24 286.55 21,946.93 8,640.96 (13,305.97) 42,872.88

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

Management Fees 10,897.31 10,962.47 65.16 42,418.60 43,480.11 1,061.51 135,694.22
Asset Management Fees 1,000.00 1,000.00 0.00 4,000.00 4,000.00 0.00 12,000.00
Investor Administration Fee 3,250.00 3,300.00 50.00 13,000.00 13,200.00 200.00 39,600.00
Legal Fees 292.80 1,300.00 1,007.20 Actual reflects two 2,514.50 5,200.00 2,685.50 15,600.00
evictions filed.
Accounting Fees 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Postage & Delivery 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Bank Charges 0.00 9.58 9.58 0.00 38.32 38.32 114.96
Partnership Insurance 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other Administrative Expenses 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Travel Expense 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Employee Activities 0.00 0.00 0.00 123.71 0.00 (123.71) 0.00
Printing 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Computer Consulting 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Computer Expense 0.00 0.00 0.00 0.00 2,624.00 2,624.00 5,124.00
Bank Charges 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Development Cost 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Admin. Expense 15,440.11 16,572.05 1,131.94 62,056.81 68,542.43 6,485.62 208,133.18

Electricity 2,993.46 3,340.00 346.54 Usuage less than 10,202.09 13,360.00 3,157.91 40,080.00
anticipated for bldg
services.
Electricity Gas - Resident 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Natural Gas 2,897.29 2,565.00 (332.29) 11,254.86 10,260.00 (994.86) 30,780.00
Water & Sewer 10,962.30 8,965.00 (1,997.30) Rate increase from 57,770.11 35,860.00 (21,910.11) 107,580.00
Arapahoe County
exceeded the
anticipated 5%. Actual
increase was 20%.
Water & Sewer - Resident Reimb (9,940.53) (6,275.50) 3,665.03 Variance due to (31,994.00) (25,102.00) 6,892.00 (75,306.00)
aggressive in house
collections on water
bills. Collected 90%.
Water - irrigation 22.26 500.00 477.74 Variance due to only 22.26 500.00 477.74 23,500.00
meter two being turned
on.
Electric - Tenant Reimbursement 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Trash Reimbursement (2,098.56) (2,011.00) 87.56 (10,467.48) (8,044.00) 2,423.48 (24,132.00)
Water - Tenant Reimbursement 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Utility -Vacant Electric 1,849.21 887.94 (961.27) Usuage was more than 4,701.70 3,266.76 (1,434.94) 9,387.78
anticipated. Includes
final bills.
Utility - Vacant Gas 0.00 591.96 591.96 Did not receive invoice 3,301.28 2,177.84 (1,123.44) 6,258.52
prior to ACME.
Tenant Reimbursement - Gas 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Utility Expense 6,685.43 8,563.40 1,877.97 44,790.82 32,278.60 (12,512.22) 118,148.30

Management Fees 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Management Fees-MRLL 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Property Legal Fees 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Credit Card Fees 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Bank Charges 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Bank Adjustments 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other Professional Fees 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Late Charges 0.00 0.00 0.00 0.00 0.00 0.00 0.00
HOA Assessment Fees 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Contributions 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fiduciary Fees 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Custodial Fees 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Thunder Expense 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounting Fees 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Management Expense 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Property Taxes 27,873.21 27,616.50 (256.71) 115,693.82 110,466.00 (5,227.82) 331,398.00
Franchise Tax 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Insurance 5,591.36 5,073.00 (518.36) Based on actual 22,365.52 20,292.00 (2,073.52) 60,876.00
expense.
Tax Consultants 0.00 49.88 49.88 0.00 199.52 199.52 598.56
MIP 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Taxes & Insurance 33,464.57 32,739.38 (725.19) 138,059.34 130,957.52 (7,101.82) 392,872.56
Total Operating Expenses 108,318.75 109,170.87 852.12 446,393.13 420,551.30 (25,841.83) 1,327,709.14
NET OPERATING INCOME 152,042.53 164,890.99 (12,848.46) 581,134.33 666,451.67 (85,317.34) 2,064,646.41

Base Rent - Interest Payment 106,586.67 106,586.67 0.00 426,346.68 426,346.68 0.00 1,279,040.04
Base Rent - Principal Payment 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Stated Rent 86,666.71 86,666.67 (0.04) 346,666.84 346,666.68 (0.16) 1,040,000.04
Office Rent 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Rent Expense 193,253.38 193,253.34 (0.04) 773,013.52 773,013.36 (0.16) 2,319,040.08

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

Partnership Legal Fees 0.00 170.00 170.00 0.00 680.00 680.00 2,040.00
Partnership Accounting Fees 0.00 170.00 170.00 0.00 680.00 680.00 2,040.00
Partnership Travel 0.00 75.00 75.00 0.00 300.00 300.00 900.00
Partnership - Meals 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Partnership Fees - Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Partnership Expense 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Due Diligence Cost 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dead Deal Cost 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Partnership Exp- Leaseup Costs 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Partnership Expense 0.00 415.00 415.00 0.00 1,660.00 1,660.00 4,980.00

Exterior Rehab 0.00 0.00 0.00 0.00 0.00 0.00 18,946.00
Interior Rehab 0.00 0.00 0.00 0.00 3,250.00 3,250.00 3,250.00
HVAC Replacement 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Carpet & Floor Replacement 6,547.82 4,900.00 (1,647.82) Replaced six carpets 20,386.39 19,600.00 (786.39) 58,800.00
this month.
Refrigerators 0.00 0.00 0.00 585.06 600.00 14.94 600.00
Dishwashers & Ranges 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Washers / Dryers 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fire Alarm Replacement 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other Capital Improvements 1,827.74 0.00 (1,827.74) Repairs to the trash 3,909.53 3,713.00 (196.53) 3,713.00
compactor. Repairs
were not anticipated.
Boiler Replacement 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Roof Replacement 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Capital Expenses 8,375.56 4,900.00 (3,475.56) 24,880.98 27,163.00 2,282.02 85,309.00
Casualty Losses 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Casualty Recovery 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Casualty Loss 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NET INCOME (LOSS) (49,586.41) (33,677.35) (15,909.06) (216,760.17) (135,384.69) (81,375.48) (344,682.67)

Rental Guarantee 0.00 0.00 0.00 4,054.35 0.00 4,054.35 0.00
(49,586.41) (33,677.35) (15,909.06) (212,705.82) (135,384.69) (77,321.13) (344,682.67)
YTD Variance Comment Filter
0.01
###

###

###
0.00
0.00
###

###

0.00
0.00
###
###

0.00
###
0.00
###
###

0.00
0.00
0.00
0.00
###
1.00
0.00
340.00
0.00
###
4,176.29
8,875.42
0.00
###
7,209.12

9,245.62

0.00
3,488.53
###

0.00
0.00
0.00
0.00
###
0.00
###
0.00
0.00
3,875.00
0.00
0.00
0.00
###
###

3,073.57
0.00
2,125.00
###

0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
###
1.00
###
1.00
1.00
###

0.00
###

0.00
###

0.00
###

0.00
0.00
245.00
0.00
###
1.00
7,578.88
9,115.64
948.06
2,082.31
0.00
0.00
450.00
0.00
2,426.06

0.00
758.76

125.00
4,130.00
6,224.71
0.00
###
1.00
###

5,899.03

###

###
###
1.00
4,211.48
###

###

1,455.33
0.00
735.85
2,158.35

125.00
842.75
###
1.00
6,741.32
1,539.72
1,079.51
750.00
270.00
3,208.67
0.00
1,300.48
3,540.41
598.43
480.34
4,045.40
0.00
2,351.52
0.00
0.00
0.00
###
1.00
###
5,787.70
801.20
0.00
0.00
0.00
0.00
###
###
1.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
###
###
###
9,307.30

0.00
0.00
47.90
0.00
0.00
0.00
123.71
0.00
0.00
2,624.00
0.00
0.00
###
1.00
###
0.00
###
###

###

1,044.52

0.00
###
0.00
###

###

0.00
###
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
###

249.40
0.00
###
###
###
1.00
###
0.00
###
0.00
###
1.00
0.00
0.00
0.00
0.00
0.00
0.00
850.00
850.00
375.00
0.00
0.00
0.00
0.00
0.00
0.00
2,075.00
1.00
0.00
3,250.00
0.00
###

1,185.06
0.00
0.00
0.00
9,450.27

0.00
0.00
###
1.00
0.00
0.00
0.00
###
1.00
4,054.35
1.00
A16: deparker:
What is our current Up Front Special?

A104: deparker:
Where is this invoice?

A133: deparker:
Did the glass break twice in #3201, both invoices $250.25

A184: deparker:
What was this refund for?

A187: deparker:
We need to notify the PUC of this HUGE increase. Oublic Utility Commission, it may be illegal for the big increase.

A191: deparker:
Not complaining but how can we collect more than we billed out in trash, are they coding the resident paid fees for the billing service to this account as well?
Courtney Downs Apartments
Apr-07
LEASING & OCCUPANCY

NUMBER OF MOVE INS: 21 INCOME THIS MONTH: $260,361.28
NUMBER OF MOVE OUTS: 17 INCOME LAST MONTH: $251,928.23
NET FOR THE MONTH: 4 DIFFERENCE: 8433.05

TOTAL # GARAGES 120
# GARAGES OCCUPIED 117
OCCUPIED/LEASED %: 92.7%, 88.3% GARAGES OCCUPIED % 98%

SOURCE OF TRAFFIC: REASONS WHY PROSPECTS DID NOT LEASE:
Traffic Leased
APTGUIDE.COM 0 0 * Job Transfer 6
APARTMENT GUIDE 17 2 * Too expensive. 17
YELLOW PAGES 0 0 * Future/No Availability/Waiting list 0
OTHER. NET 0 0 * Just started looking. 19
BLUE BOOK 29 8 * Waiting for Home to Sell 7
RENT.NET 0 0 * Current Lease to Expire 6
LIVES IN AREA 19 9 * Needs Ground Floor 5
RESIDENT REFERRAL 7 1 * Moved Elsewhere 7
LOCATORS 5 1 * Will return with roommate or spouse 9
RENT.COM 11 0 * Realtor Looking for Client 0
WALK-IN 0 0 * Undecided 0
SIGNAGE 16 3 * Employment pending 0
WORD OF MOUTH 0 0 * House sale pending 4
* Rented at Competitor 0
TOTALS 104 24 TOTALS 80

CLOSING RATIO: 33%

MARKETING ACTIVITIES & SOURCES FOR THE MONTH

* Took brochures to Regal Entertainment for preferred employer program.
* Took flyers and brochures to Sky Ridge Human Resources for new employees to the area.
* Took flyers to Parker Adventist Hospital.
* Took locators lunch and new prices for the month.
* Updated all internet ads with new pricing and specials for the month of April .
* Brochures and lunch were taken to Direct TV Human Resources.
* Met with Metro Brokers sales team with options of temporary housing for new home buyers.
* Dropped off cookie basket and brochures to Nextel.
* Dropped off doughnuts and brochures to Marriott extended stay hotels.
* Took cookie and candy bag with flyer's to Ryland Homes team.
* Took cookie bag and brochures to Ford dealership.
* Took cookie and candy bag to Richmond homes.
OVERVIEW OF COMPARABLE PROPERTIES:
The surrounding comps are still offering heavy concessions or discounted rents on selected units.
This translates into one bedroom effective rents of $695, two bedrooms at $805and three bedrooms starting at $1110.
Look and leases are being locked in with $500.00 gift cards to local malls or a $500.00 flight voucher as well as prorating concessions on a 12 to 13 month lease
with most of our competitors.
RESIDENT RETENTION:
We had 32 leases expiring in the month of April. Five are moving due to purchasing a home and/or condo.
One is moving due to relocating, one is loosing their roommate, two are moving back home, two are moving closer to work.
Overall our 21 renewals had an average increase of $31.92 per renewal.

INCIDENTS ON THE PROPERTY:
Gutters by Building 12 have been damaged by weather conditions and we are currently getting bids to fix them.
Bld 19 has had many leaks in the riser room, AAA is in the process of repairing system.

MAINTENANCE: ROUTINE REPLACEMENTS:
Number
Number of: Replaced Apt. #
MARKET READY UNITS 15 REFRIGERATORS 0
COMPLETE PAINTS 8 DISHWASHERS 0
TOUCH UPS 7 WINDOWS 0
WORK ORDERS 169 A/C COMPRESSORS 0
Pending Completed 0 CONDENSING UNITS 0
Misc 0 22 22 WATER HEATERS 0
Electrical 0 37 37 ICE MAKERS 0
Punch 0 15 15 GARBAGE DISPOSALS 0
HVAC 0 23 23 MICROWAVES 0
4107, 6206, 10208, 12101, 14202,
Plumbing 0 65 65 CARPETS 7 14201, 9212.
Property Ext. 0 0 0 CEILING FANS 0
Appliances 0 7 7 TOILETS 0
Safety 0 0 0 A/C FAN MOTORS 0
Total 0 169 169 COUNTER TOPS 0
ROOF LEAKS 0 CABINETS RESURFACED KITCHEN 0

10105-1, 6202-4, 14201-4, 14202-
7, 16106-2, 6206-1, 4308-1, 12307-
PLUMBING LEAKS 0 BLINDS 27 2, 16108-2, 10205-2, 1201-1.
TUBS RESURFACED 0
TUB TILES 0

CAPITAL IMPROVEMENTS IN PROGRESS:
N/A

PROBLEM AREAS NEEDING ATTENTION:
We will be painting the pool fence this month as it is fading and peeling and is in need of a touch up.

CURRENT STAFF:

Manager Nancy Howland
Assistant Manager Wendy Gillan
Leasing Consultant Carrie McMillan
Leasing Consultant Jessica Branch
Maintenance Supervisor Gabriel Tellez
Assistant Maintenance Russell Briley
Maintenance/ Grounds Jorge Chavez and Jorge Bernal

ACCOMPLISHMENTS FOR THE MONTH:
Golf carts are repaired and in good working order.
Flowers have been planted in the pool area and in the pots by the office, all other flowers are scheduled for planting this month.
Sprinkler system is up and working.
Courtney Downs
RENTAL SCHEDULE
April 2007

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 0.00 725.00 0.00 $- 0 1 6 1 4
A1V 1BR 32 704 22,528 725 1.22 $27,520 $330,240 0.00 55.00 0.00 0 0 0 0 0
A2 1BR 18 910 16,380 850 1.03 $15,300 $183,600 0.00 850.00 0.00 $- 1 2 0 1 2
B1 2BR 24 808 19,392 750 1.11 $18,000 $216,000 0.00 750.00 0.00 $- 0 0 4 3 1
B1V 2BR 32 808 25,856 750 1.14 $24,000 $288,000 0.00 750.00 0.00 $- 0 0 0 0 0
C 2BR 42 977 41,034 875 1.16 $36,750 $441,000 0.00 875.00 0.00 $- 5 2 5 1 13
C1 2BR 44 1,030 45,320 900 1.12 $39,600 $475,200 0.00 900.00 0.00 $- 7 3 6 0 12
C1V 2BR 22 1,030 22,660 900 1.15 $19,800 $237,600 0.00 900.00 0.00 $- 0 0 0 0 0
CV 2BR 24 977 23,448 875 1.18 $21,000 $252,000 0.00 875.00 0.00 $- 0 0 0 0 0
D 2BR 16 1,030 16,480 925 0.90 $14,800 $177,600 0.00 925.00 0.00 $- 2 0 2 0 5
DV 2BR 20 1,030 20,600 925 0.90 $18,500 $222,000 0.00 925.00 0.00 $- 0 0 0 0 0
E 3BR 24 1,140 27,360 1150 1.01 $27,600 $331,200 0.00 1,150.00 0.00 $- 1 1 2 0 3
EV 3BR 4 1,140 4,560 1150 1.01 $4,600 $55,200 0.00 1,150.00 0.00 $- 0 0 0 0 0

TOTAL 342 917 313,778 $867 $0.94 $296,470 $3,557,640 $- $833 0.00 $- 16 9 25 6 40
* Net of Concessions
MARKET SURVEY
Courtney Downs
April-07

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 303-805-7220 303-680-6696
Location Englewood, Co Aurora, Co Englewood, Co 80112 Centennial, Co Englewood, Co 80112 Parker, Co 80134 Englewood, Co 80112
# of units 342 507 653 216 312 380 168
Age of Property 4 4 7 4 5 4 5
Application Fee $50.00 $35.00 $40.00 $35.00 $30.00 $35.00 $40.00
Credit Card yes yes yes yes yes yes 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 150 275-325 300 100 99 100-200 100
W/D included Yes yes Only In Select Units Only Select Units no no no
Covered Parking no yes yes yes yes yes yes
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
April-07
(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 1.03 715 779 0.92 680 627 1.08 659 685 0.96 720 768 0.94 675 707 0.95 741 763 0.97
1B1B (B) 850 808 1.05 910 853 1.07 740 701 1.06 684 705 0.97 730 842 0.87 708 796
1B1B w/study 750 910 0.82 840 811 0.91 709 760 0.96 895 992 729 916
1B
1B
1B w/loft
1B1B w/study 820 956 0.86 809 1051 0.77
2B2B (E) 875 977 0.90 975 1105 0.88 920 1044 0.88 845 1120 0.75 885 1115 0.79 925 1033 0.90 965 1037 0.93
2B2B (F) 900 1030 0.87 1120 1192 0.94 1060 1196 0.89 935 888 970 1220 0.80 975 1093 0.89
2B2B (G) 925 1030 0.90 1090 1180 0.92
2B2B (H)
2B2B
2B w/study
2B2B TH
2B2B TH
3B2B 1,160 1140 1.02 1275 1398 0.91 1320 1330 0.99 1084 1230 0.88 1100 1356 0.81 1040 1235 0.84 1195 1257 0.95
3B2B

% occ /leased 93 88.30% 91% 96.1 99.6 98% 0 0% 94 96.00% 94% 93.0 91 93% 94.7 97 94% 97.0 96 98%
Avg PSF 1 0.94 0.94 0.95 0.88 0.84 0.90 0.95
Avg Rents 884 1114 994 808 883 1131 995
/ Avail)
Units(Total 342 40 507 18 653 216 20 312 13 360 43 0 168 4

Special: look and lease
special $150 security deposit Special:waive security Special: $400.00 off 1st
waived and $350 off first Special: Reduced pricing deposit and $150.00 gift month rent look and lease Special: Up to 3 months Special: Discounts on all
Rates months rent. for all floor plans. Sepcial:None card to any location. special. free on a 12 month lease. available rents.
reflect these rates:1 Bd $725 1 BD $715 to $910 $680 1/1 $820 2/2 $1320 3/2 1 Bd $659 to $719 1 Bd $720 to $895 1 Bd $675 to $729
specials: 2 Bd $875 2BD $975 to $1120 special was pulled off the internet
2 Bd $809 to $1046 2 Bd $885 to $970 2 Bd $925 to $975
3 Bd $1160 3BD $1275 due to property will not give info.
3BD $1084 to $1179 3 Bd $1100 3 Bd $1040

Ren.: Keep all residents
4% under all new Ren: Info not avail per Ren: $30 increas for 12 Ren: Average $10 to $25 Ren: Free carpet cleaning
Ren: $25 to $50 increase. residents. corporate Ren:Per corporate month lease increase. with 12mo.