USA Courtney Downs LeaseCo, LLC

Balance Sheet
Books = Accrual
Aug 2007

ASSETS

Cash
Operating Cash 58,620.11
Money Market 0.00
Total Cash $58,620.11

OTHER ASSETS
Accounts Receivable (240.17)
Prepaid Expenses 22,531.85
Tax Escrow 140,912.10
Replacement Reserves 69,743.58
Capital / Repair Escrow 200,000.00
Total Other Assets 432,947.36

Total ASSETS 491,567.47

LIABILITIES & CAPITAL

LIABILITIES
Accounts Payable - Trade 171,260.28
Other Accounts Payable 705,285.05
Accrued Taxes 227,602.26
Prepaid Rent 22,973.93
Security Deposits 40,980.13
Notes Payable 11,933.20
Total Liabilities 1,180,034.85

CAPITAL

Owners Equity 100.00

Retained Earnings (688,567.38)
Total Capital (688,467.38)

Total LIABILITIES & CAPITAL 491,567.47

 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 Actual Actual Actual Actual Budget Budget Budget Budget Total Unit Sq. Ft. Reforecast Total Unit Sq. Ft.
342 313,778 342 313,778
Revenue
Gross Potential Rent 352,560 345,950 343,190 338,114 331,407 327,521 321,211 314,121 321,211 321,211 321,211 321,211 3,958,918 11,575.78 12.62 364,160 4,977,088 14,552.89 15.86
- Vacancy (34,193) (31,453) (33,657) (26,399) (19,217) (11,745) (8,517) (14,496) (11,745) (11,745) (11,745) (11,745) (226,656) (662.74) (0.72) (43,000) (293,809) (859.09) (0.94)
- Concessions & Disc. (77,240) (77,177) (74,811) (68,736) (56,781) (52,476) (45,332) (33,435) (44,000) (46,476) (47,500) (49,500) (673,464) (1,969.19) (2.15) (80,000) (852,435) (2,492.50) (2.72)
- Other Write-offs & Adj. (5,251) (7,154) (5,738) (5,449) (6,551) (6,386) (5,803) (8,688) (6,386) (6,386) (6,386) (6,386) (76,566) (223.88) (0.24) (6,085) (95,647) (279.67) (0.30)
Total Rental Income 235,876 230,165 228,984 237,529 248,858 256,914 261,560 257,502 259,080 256,604 255,580 253,580 2,982,232 8,719.98 9.50 235,075 3,735,197 10,921.63 11.90

Other Income 27,580 21,616 22,944 22,832 23,203 22,482 19,521 31,663 20,545 20,545 20,545 20,195 273,671 800.21 0.87 19,000 334,213 977.23 1.07
Total Revenue 263,457 251,781 251,928 260,361 272,061 279,396 281,081 289,166 279,625 277,149 276,125 273,775 3,255,904 9,520.19 10.38 254,075 4,069,409 11,898.86 12.97

Operating Expenses
Salary Expense 33,611 20,391 30,933 32,195 31,382 31,663 40,842 22,827 30,872 26,976 27,014 30,347 359,052 1,049.86 1.14 37,759 455,223 1,331.06 1.45
Operating Expense 2,710 2,821 2,230 3,652 3,228 3,040 5,519 2,088 3,725 3,725 3,725 3,665 40,128 117.33 0.13 3,030 50,666 148.15 0.16
Advertising Expense 6,159 5,921 9,117 4,298 6,292 4,400 4,564 7,230 7,393 6,993 6,993 6,394 75,755 221.51 0.24 6,885 96,250 281.43 0.31
Make Ready Expense 3,805 2,722 3,636 6,647 4,645 6,951 5,843 4,190 3,803 3,705 3,803 2,828 52,575 153.73 0.17 7,500 66,859 195.49 0.21
Maintenance Expense 2,027 1,541 2,485 2,639 1,612 1,405 3,289 2,097 2,425 15,095 2,425 2,425 39,466 115.40 0.13 2,295 46,726 136.63 0.15
Service Expense 6,403 10,329 1,917 3,299 5,923 4,883 3,010 3,137 5,585 5,585 6,385 1,835 58,291 170.44 0.19 2,395 69,077 201.98 0.22
Administrative Expense 15,368 15,798 15,451 15,440 14,701 16,179 18,825 16,316 17,235 17,209 17,247 17,301 197,070 576.23 0.63 14,969 247,165 722.70 0.79
Utility Expense 9,370 15,941 12,794 6,685 9,354 12,548 12,990 1,571 12,776 8,388 8,001 8,051 118,470 346.40 0.38 10,900 145,769 426.22 0.46
Taxes & Insurance 37,910 33,542 33,143 33,465 34,552 34,243 64,955 34,433 32,739 32,739 32,739 32,739 437,200 1,278.36 1.39 0 438,480 1,282.11 1.40
37,237 37,237 108.88 0.12
Total Operating Exp. 117,362 109,007 111,705 108,319 111,690 115,314 159,837 93,888 116,553 120,416 108,332 105,585 1,378,009 4,029.27 4.39
Net Operating Income 146,094 142,774 140,223 152,043 160,371 164,082 121,244 195,277 163,072 156,732 167,793 168,189 1,877,895 5,490.92 5.98 122,970 1,653,451 4,834.65 5.27
131,106 2,415,958 7,064.20 7.70
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 2,319,040 6,780.82 7.39
Partnership Expense 0 0 0 0 365 0 690 273 415 415 415 415 2,988 8.74 0.01 193,254 197,080 576.26 0.63
Capital Expense 1,601 4,113 10,791 8,376 13,906 2,091 4,426 11,143 4,900 4,900 4,900 4,900 76,048 222.36 0.24 0 86,070 251.67 0.27
3,300 3,300 9.65 0.01
Cash Flow Frm Operations (48,760) (54,592) (63,822) (49,586) (47,153) (31,262) (77,125) (9,392) (35,497) (41,836) (30,776) (30,379) (520,181) (1,521.00) (1.66)
(65,449) 2,129,507 6,226.63 6.79
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 2,739 0 46,036 0 0 0 0 0 57,711
Accounts Receivable (4,571) (717) 131,540 (134,406) 2,387 (1,420) 8,565 8,625 0 0 0 0 10,001 0 10,001
Prepaid Assets (7,749) 3,588 6,328 (4,460) 523 337 10,797 5,633 0 0 0 0 14,997 0 14,997
Escrow Deposits (30,394) (34,568) (34,568) (34,822) 322,388 (35,800) (35,800) (35,800) (7,125) (7,125) (7,125) (7,125) 52,135 0 37,885
(2,951) (2,951)
Cash Increase (Decreae) From Assets (42,714) (31,697) 107,861 (169,314) 328,037 (36,884) 29,597 (21,543) (7,125) (7,125) (7,125) (7,125) 134,844
(2,951) 59,932
Accounts Payable 36,334 64,458 (135,734) 185,452 117,385 41,375 118,141 24,714 0 0 0 0 452,123
Accrued Expenses 41,830 25,859 110,449 36,480 (411,342) 29,291 (51,145) (11,371) 0 0 0 0 (229,950) 0 (229,950)
Other Payables (1,829) (1,300) (1,433) (4,374) (2,739) (793) (1,500) (2,763) 0 0 0 0 (16,731) 0 (16,731)
Mortgages Payable 0 (11,458) (5,571) 15,448 1,581 0 12,262 0 0 0 0 0 12,262 0 12,262
0 0
Cash Increase (Decrease) From Liab. 76,334 77,559 (32,289) 233,006 (295,115) 69,872 77,757 10,580 0 0 0 0 217,704
0 (234,419)

NET CASH FLOW (7,597) (12,219) 11,751 14,106 (14,231) 1,726 30,229 (20,355) (42,622) (48,961) (37,901) (37,504) (167,633)
CUMM. NET CASH FLOW 47,614 35,395 47,146 61,251 47,020 48,746 78,975 58,620 15,998 (32,963) (70,863) (108,367) 181,601 2,205,020
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 August 31, 2007

MTD MTD YTD YTD

Account Actual Budget $ Variance MTD Variance Comment Actual Budget
Revenue
Market Rent 294,410.00 349,860.00 (55,450.00) Concessions are no longer being 2,377,010.00 2,815,820.00
offered, market rents changed to
reflect lower rents.
Loss / Gain to Lease 19,711.00 0.00 19,711.00 We have changed the budget to reflect 297,064.00 0.00
lower market rents, this will continue to
reduce over time as last years
concessions deplete.
Gross Potential Rent 314,121.00 349,860.00 (35,739.00) 2,674,074.00 2,815,820.00
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 (14,495.77) (23,504.56) 9,008.79 Property closed out at a 2.8% vacancy, (179,676.69) (213,519.37)
versus 6.1% budgeted.
Upfront Rent Concessions (1,741.84) (6,960.00) 5,218.16 Current specials are only offered on (24,726.95) (50,025.00)
our two bedrooms and only with a look
and lease do they receive $350.00 off
first months rent.
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 (3,766.94) (666.98) (3,099.96) Variance due to three skips. (11,654.04) (5,130.02)
Model Units (1,980.00) (1,625.00) (355.00) Current market rent on two units. (15,840.00) (13,000.00)
Courtesy Officer Apt. 0.00 0.00 0.00 0.00 0.00
Employee Apartment (1,780.80) (2,050.00) 269.20 Fewer emloyees living on site. (14,246.40) (16,400.00)
Housekeeping & Maintenance Fee 0.00 0.00 0.00 0.00 0.00
Guest Suite (1,160.00) (900.00) (260.00) Market rent. No rentals this month. (9,280.00) (7,200.00)
Lease Term Concessions (31,693.49) (48,029.36) 16,335.87 We have been able to reduce the (461,260.86) (463,669.23)
amount of concessions given off each
month to meet market needs. We
have also been renewing leases with
fewer concessions.
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 $257,502.16 $266,124.10 $(8,621.94) $1,957,389.06 $2,046,876.38

Laundry Income 0.00 0.00 0.00 0.00 0.00

Vending Income 0.00 68.00 (68.00) 0.00 544.00
Covered Parking Income 0.00 0.00 0.00 0.00 0.00
Late Charges & NSF Fees 1,926.00 1,650.00 276.00 Aggressive collection efforts. 12,327.73 13,200.00
Month to Month Premium 711.94 200.00 511.94 Had five more residents stay on the 5,275.80 1,600.00
property month to month while building
their houses.
Storage Fees 1,045.45 960.00 85.45 7,080.43 7,680.00
Repair & Maintenance Fees 0.00 0.00 0.00 0.00 0.00
Application Fees 2,169.90 950.00 1,219.90 50 actual application fees collected 12,429.90 7,350.00
versus 18 budgeted for.
Termination Fees & Damages 2,725.00 1,000.00 1,725.00 One break lease fee was collected. 7,759.76 8,000.00
Miscellaneous Income 676.23 1,160.00 (483.77) Collected 16 credit card fees and 24 5,383.15 9,280.00
utility transfer fees.
Renters Insurance 0.00 0.00 0.00 0.00 0.00
Interest Income 0.00 0.00 0.00 3,488.53 0.00
Pet Rents & Fees 5,112.35 2,456.00 2,656.35 11 non-refundable pet fee at $300.00 27,106.07 19,648.00
were collected as well as additional pet
rents from new move ins.
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 6,617.66 6,650.00 (32.34) 53,815.01 53,200.00
Water/Sewer Income 0.00 0.00 0.00 0.00 0.00
Cable/Telephone Income 0.00 1,006.00 (1,006.00) Did not receive revenue check this 4,564.46 8,048.00
month. Will post in September.
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 600.00 90.00 510.00 Two NR pet fees. Mis coded, will re- 2,993.65 720.00
code in Sept.
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 3,050.00 3,200.00 (150.00) 24,350.00 24,600.00
Move-Out Charges 5,228.45 3,330.00 1,898.45 Damages from 19 move outs. 21,296.35 35,520.00
Short Term Lease Fees 1,325.00 300.00 1,025.00 10 residents are on short term leases, 3,495.23 2,850.00
versus three budgeted.
Extra-Ordinary Income 0.00 0.00 0.00 0.00 0.00
Corporate Rent 475.41 425.00 50.41 475.41 3,400.00
Corporate Units - expense 0.00 (1,750.00) 1,750.00 No corporate units as anticipated. 0.00 (14,000.00)
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 31,663.39 21,695.00 9,968.39 191,841.48 181,640.00

Total Revenue $289,165.55 $287,819.10 $1,346.45 $2,149,230.54 $2,228,516.38

Expense
Managers Salary 7,824.46 12,613.82 4,789.36 Reflects final payroll plus payout of 90,515.77 97,306.60
vacation time from Contravest.
Includes June and July bonuses
$6600, will re-code in Sept. Payroll is
favorable YTD.
Salaries 0.00 0.00 0.00 0.00 0.00
Maintenance Salary 11,196.95 11,784.65 587.70 104,014.20 90,910.18
Salary - Administrative 0.00 0.00 0.00 0.00 0.00
Commissions & Bonus 0.00 2,250.00 2,250.00 Bonuses paid in salaries. 31,233.51 24,523.18
Payroll Taxes 0.00 0.00 0.00 0.00 0.00
Group Insurance 2,602.36 778.00 (1,824.36) Final payroll and accrued vacation. 13,479.86 6,224.00
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 1,203.13 0.00 (1,203.13) Used temp labor to cover open 4,599.88 0.00
position.
Workers Comp 0.00 0.00 0.00 0.00 0.00
Total Salary Expense 22,826.90 27,426.47 4,599.57 243,843.22 218,963.96

Office Operations & Supplies 441.26 1,000.00 558.74 Less supplies needed for the office this 5,237.86 8,000.00
month.
Telephones 672.36 1,100.00 427.64 Reflects current services. 5,662.71 8,800.00
Answering Svc. & Pagers 125.83 100.00 (25.83) 723.49 800.00
Postage & Delivery 91.22 170.00 78.78 1,701.91 1,360.00
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 0.00 90.00 90.00 897.82 720.00
Conventions/Seminars 0.00 0.00 0.00 0.00 0.00
Employee Training 253.98 115.00 (138.98) 3,271.91 920.00
Furniture Rental 0.00 0.00 0.00 0.00 0.00
Car Expenses 0.00 25.00 25.00 385.44 200.00
Permits & Fees 0.00 25.00 25.00 0.00 200.00
Credit Checks 0.00 570.00 570.00 Invoice not received prior to ACME. 2,993.00 4,410.00
Guest Suite Expense 503.38 650.00 146.62 4,414.15 5,200.00
Parking Cost 0.00 0.00 0.00 0.00 0.00
Total Operating Expense 2,088.03 3,845.00 1,756.97 25,288.29 30,610.00

Advertising & Promotions 4,990.48 2,600.00 (2,390.48) Includes advertising gifts, new flutter 29,557.44 26,100.00
flags, human directional and full page
advertising in South/East Denver mag.

Resident Promotions 638.23 798.00 159.77 3,367.43 6,384.00

Locators 1,601.42 2,313.92 712.50 Paid three locator palcements this 10,455.94 17,788.26
month @ 50% fee.
Resident Referrals 0.00 2,480.00 2,480.00 No referrals were used this month. 4,600.00 19,065.00
Total Advertising Expense 7,230.13 8,191.92 961.79 47,980.81 69,337.26

Paint & Drywall 126.84 720.00 593.16 Turns completed in house. 1,609.29 5,490.00
 Contract Cleaning Svcs. 2,090.00 250.00 (1,840.00) Due to budget error. 21,240.00 2,000.00
Carpet Cleaning & Repairs 1,018.00 2,400.00 1,382.00 Five actual carpets cleaned this month. 11,941.00 18,300.00

Window Coverings 237.58 100.00 (137.58) 1,785.81 800.00

Vinyl & Tile Repairs 0.00 0.00 0.00 0.00 0.00
Lock & Keys 210.77 50.00 (160.77) 575.08 400.00
Counter & Tub Resurfacing 0.00 416.67 416.67 No tubs and counters resurfaced this 75.00 3,333.36
month.
Other Redecorating 0.00 25.00 25.00 0.00 200.00
Cleaning Supplies 506.52 133.33 (373.19) Extra supplies order for the move in 1,211.63 1,066.64
gift bags.
Total Make Ready Expense 4,189.71 4,095.00 (94.71) 38,437.81 31,590.00

General Maintenance & Supplies 260.50 700.00 439.50 Minnimal supplies required this month. 4,812.31 5,600.00

HVAC Parts & Repairs 104.05 100.00 (4.05) 1,306.24 800.00

Plumbing Parts & Repairs 212.06 140.00 (72.06) 788.40 1,120.00
Electric Parts & Repairs 45.32 150.00 104.68 326.75 1,200.00
Roof & Gutter Repairs 0.00 0.00 0.00 270.00 0.00
Pools & Fountains 477.73 450.00 (27.73) 3,237.56 3,600.00
Gates & Entrances 0.00 0.00 0.00 0.00 0.00
Glass & Screens 0.00 160.00 160.00 1,183.91 1,280.00
Appliance Parts & Repairs 406.12 450.00 43.88 1,512.74 4,050.00
Hardware 424.09 75.00 (349.09) Replaced bi-fold doors for two units. 891.60 600.00
Exterior Painting 0.00 25.00 25.00 355.34 200.00
Uniforms 0.00 0.00 0.00 45.40 1,000.00
Elevator Service & Repairs 0.00 0.00 0.00 0.00 0.00
Security & Fire Systems 167.08 175.00 7.92 2,365.48 1,400.00
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 2,096.95 2,425.00 328.05 17,095.73 20,850.00

Landscape & Grounds 2,218.00 2,500.00 282.00 Monthly landscape services. 16,262.90 15,000.00
Trash Removal 361.32 510.00 148.68 5,243.78 4,080.00
Pest Control 558.00 75.24 (482.76) Extra service calls for bee problem in 1,023.26 601.92
unit #16305.
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 0.00 0.00 0.00 16,370.42 3,800.00
Total Service Expense 3,137.32 3,085.24 (52.08) 38,900.36 23,481.92

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 11,566.62 11,512.76 (53.86) 88,823.41 89,140.65

Asset Management Fees 1,000.00 1,000.00 0.00 8,000.00 8,000.00
Investor Administration Fee 3,250.00 3,300.00 50.00 26,000.00 26,400.00
Legal Fees 499.00 1,300.00 801.00 Six eviction fees filed, versus eight 2,008.40 10,400.00
budgeted for.
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 9.58 9.58 0.00 76.64
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 0.00 572.67 0.00
Employee Activities 0.00 0.00 0.00 123.71 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 2,550.30 5,124.00
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 16,315.62 17,122.34 806.72 128,078.49 139,141.29

Electricity 2,518.57 3,340.00 821.43 Current usage is less than anticipated. 21,984.64 26,720.00
 Electricity Gas - Resident 0.00 0.00 0.00 0.00 0.00
Natural Gas (498.56) 2,565.00 3,063.56 The prior month accrual was $800 14,244.00 20,520.00
more than the actual cost.
Water & Sewer 8,793.35 8,965.00 171.65 104,845.43 71,720.00
Water & Sewer - Resident Reimb (12,470.77) (6,275.50) 6,195.27 Increased water rate and now billing (70,971.74) (50,204.00)
back eligible water fees that were not
billed.
Water - irrigation 4,533.32 6,000.00 1,466.68 Actual was $8000 accrual reversed 16,356.74 18,000.00
was $4000.
Electric - Tenant Reimbursement 0.00 0.00 0.00 0.00 0.00
Trash Reimbursement (2,497.60) (2,011.00) 486.60 (19,001.57) (16,088.00)
Water - Tenant Reimbursement 0.00 0.00 0.00 0.00 0.00
Utility -Vacant Electric 1,192.43 677.94 (514.49) Based on actual expense. 9,264.32 6,158.52
Utility - Vacant Gas 0.00 451.96 451.96 Invoice not received prior to ACME. 4,560.35 4,105.68
Tenant Reimbursement - Gas 0.00 0.00 0.00 0.00 0.00
Total Utility Expense 1,570.74 13,713.40 12,142.66 81,282.17 80,932.20

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 0.00 0.00 0.00 0.00 0.00
Credit Card Fees 0.00 0.00 0.00 0.00 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 0.00 0.00 0.00 0.00 0.00

Property Taxes 28,800.00 27,616.50 (1,183.50) Reflects current tax rate. 227,602.26 220,932.00
Franchise Tax 0.00 0.00 0.00 0.00 0.00
Insurance 5,632.95 5,073.00 (559.95) Includes pollution policy 78,040.61 40,584.00
Tax Consultants 0.00 49.88 49.88 600.00 399.04
MIP 0.00 0.00 0.00 0.00 0.00
Total Taxes & Insurance 34,432.95 32,739.38 (1,693.57) 306,242.87 261,915.04
Total Operating Expenses 93,888.35 112,643.75 18,755.40 927,149.75 876,821.67
NET OPERATING INCOME 195,277.20 175,175.35 20,101.85 1,222,080.79 1,351,694.71

Base Rent - Interest Payment 106,586.67 106,586.67 0.00 852,693.36 852,693.36

Base Rent - Principal Payment 0.00 0.00 0.00 0.00 0.00
Stated Rent 86,666.71 86,666.67 (0.04) 693,333.68 693,333.36
Office Rent 0.00 0.00 0.00 0.00 0.00
Total Rent Expense 193,253.38 193,253.34 (0.04) 1,546,027.04 1,546,026.72

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 0.00 170.00 170.00 0.00 1,360.00

Partnership Accounting Fees 0.00 170.00 170.00 365.00 1,360.00
Partnership Travel 225.46 75.00 (150.46) 507.86 600.00
Partnership - Meals 47.41 0.00 (47.41) 454.82 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
Partnership Exp- Leaseup Costs 0.00 0.00 0.00 0.00 0.00
Total Partnership Expense 272.87 415.00 142.13 1,327.68 3,320.00

Exterior Rehab 0.00 0.00 0.00 0.00 18,946.00

Interior Rehab 0.00 0.00 0.00 0.00 3,250.00
HVAC Replacement 0.00 0.00 0.00 0.00 0.00
Carpet & Floor Replacement 4,351.47 4,900.00 548.53 Replaced six carpets and budgeted to 43,208.30 39,200.00
replace seven.
Refrigerators 641.96 0.00 (641.96) Replaced one refrigerator. 1,227.02 600.00
Dishwashers & Ranges 0.00 0.00 0.00 0.00 0.00
Washers / Dryers 0.00 0.00 0.00 0.00 0.00
Fire Alarm Replacement 0.00 0.00 0.00 0.00 0.00
Other Capital Improvements 6,150.00 0.00 (6,150.00) Filling of cracks in the parking lot 12,012.26 3,713.00
$2920 and repair of the landings in bld
two and six $2800.
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 11,143.43 4,900.00 (6,243.43) 56,447.58 65,709.00
 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) (9,392.48) (23,392.99) 14,000.51 (381,721.51) (263,361.01)

Rental Guarantee 0.00 0.00 0.00 4,054.35 0.00

(9,392.48) (23,392.99) 14,000.51 (377,667.16) (263,361.01)
 Annual
$ Variance Budget YTD Variance Comment Filter
0.01
(438,810.00) 4,209,210.00 ###

297,064.00 0.00 ###

(141,746.00) 4,209,210.00 ###

0.00 0.00 0.00
0.00 0.00 0.00
33,842.68 (325,479.64) ###

25,298.05 (59,160.00) ###

0.00 0.00 0.00

0.00 0.00 0.00
(6,524.02) (7,841.82) ###
(2,840.00) (19,500.00) ###
0.00 0.00 0.00
2,153.60 (24,600.00) ###
0.00 0.00 0.00
(2,080.00) (10,800.00) ###
2,408.37 (632,942.99) ###

0.00 0.00 0.00

0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
$(89,487.32) $3,128,885.55 ###
1.00
0.00 0.00 0.00
(544.00) 816.00 612.00
0.00 0.00 0.00
(872.27) 19,800.00 ###
3,675.80 2,400.00 7,787.74

(599.57) 11,520.00 ###

0.00 0.00 0.00
5,079.90 10,250.00 ###

(240.24) 12,000.00 ###

(3,896.85) 13,920.00 ###

0.00 0.00 0.00

3,488.53 0.00 3,488.53
7,458.07 29,472.00 ###

0.00 0.00 0.00

0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
615.01 79,800.00 ###
0.00 0.00 0.00
(3,483.54) 12,072.00 ###

0.00 0.00 0.00

0.00 0.00 0.00
2,273.65 1,080.00 4,403.65

0.00 0.00 0.00

0.00 0.00 0.00
0.00 0.00 0.00
(250.00) 33,800.00 ###
(14,223.65) 48,840.00 ###
645.23 3,600.00 7,970.23

0.00 0.00 0.00

(2,924.59) 5,100.00 4,775.82
14,000.00 (21,000.00) ###
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
10,201.48 263,470.00 ###
1.00
$(79,285.84) $3,392,355.55 ###
1.00
1.00
6,790.83 147,761.88 ###

0.00 0.00 0.00

(13,104.02) 138,048.78 ###
0.00 0.00 0.00
(6,710.33) 39,026.28 ###
0.00 0.00 0.00
(7,255.86) 9,336.00 ###
0.00 0.00 0.00
0.00 0.00 0.00
(4,599.88) 0.00 5,803.01

0.00 0.00 0.00

(24,879.26) 334,172.94 ###
1.00
2,762.14 12,000.00 ###

3,137.29 13,200.00 ###

76.51 1,200.00 1,749.32
(341.91) 2,040.00 3,323.13
0.00 0.00 0.00
0.00 0.00 0.00
(177.82) 1,080.00 1,707.82
0.00 0.00 0.00
(2,351.91) 1,380.00 4,560.89
0.00 0.00 0.00
(185.44) 300.00 610.44
200.00 300.00 225.00
1,417.00 6,150.00 7,973.00
785.85 7,800.00 ###
0.00 0.00 0.00
5,321.71 45,450.00 ###
1.00
(3,457.44) 36,900.00 ###

3,016.57 9,576.00 ###

7,332.32 24,440.78 ###

14,465.00 26,195.00 ###

21,356.45 97,111.78 ###
1.00
3,880.71 7,852.50 7,946.13
(19,240.00) 3,000.00 ###
6,359.00 26,175.00 ###

(985.81) 1,200.00 2,923.39

0.00 0.00 0.00
(175.08) 600.00 1,235.85
3,258.36 5,000.04 3,825.03

200.00 300.00 225.00

(144.99) 1,599.96 2,918.12

(6,847.81) 45,727.50 ###

1.00
787.69 8,400.00 ###

(506.24) 1,200.00 2,310.29

331.60 5,055.00 2,260.46
873.25 1,800.00 1,722.07
(270.00) 0.00 270.00
362.44 5,400.00 7,765.29
0.00 0.00 0.00
96.09 1,920.00 2,623.91
2,537.26 5,850.00 6,418.86
(291.60) 900.00 1,990.69
(155.34) 300.00 580.34
954.60 2,000.00 1,045.40
0.00 0.00 0.00
(965.48) 10,395.00 4,107.56
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
3,754.27 43,220.00 ###
1.00
(1,262.90) 30,000.00 ###
(1,163.78) 6,120.00 ###
(421.34) 902.88 2,258.42

0.00 0.00 0.00

0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
(12,570.42) 5,850.00 ###
(15,418.44) 42,872.88 ###
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
317.24 135,694.22 ###
0.00 12,000.00 ###
400.00 39,600.00 ###
8,391.60 15,600.00 ###

0.00 0.00 0.00

0.00 0.00 0.00
76.64 114.96 86.22
0.00 0.00 0.00
0.00 0.00 0.00
(572.67) 0.00 572.67
(123.71) 0.00 123.71
0.00 0.00 0.00
0.00 0.00 0.00
2,573.70 5,124.00 7,674.30
0.00 0.00 0.00
0.00 0.00 0.00
11,062.80 208,133.18 ###
1.00
4,735.36 40,080.00 ###
 0.00 0.00 0.00
6,276.00 30,780.00 ###

(33,125.43) 107,580.00 ###

20,767.74 (75,306.00) ###

1,643.26 23,500.00 ###

0.00 0.00 0.00

2,913.57 (24,132.00) ###
0.00 0.00 0.00
(3,105.80) 9,387.78 ###
(454.67) 6,258.52 ###
0.00 0.00 0.00
(349.97) 118,148.30 ###
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 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
(6,670.26) 331,398.00 ###
0.00 0.00 0.00
(37,456.61) 60,876.00 ###
(200.96) 598.56 1,048.92
0.00 0.00 0.00
(44,327.83) 392,872.56 ###
(50,328.08) 1,327,709.14 ###
(129,613.92) 2,064,646.41 ###
1.00
0.00 1,279,040.04 ###
0.00 0.00 0.00
(0.32) 1,040,000.04 ###
0.00 0.00 0.00
(0.32) 2,319,040.08 ###
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
1,360.00 2,040.00 1,530.00
995.00 2,040.00 1,895.00
92.14 900.00 1,408.32
(454.82) 0.00 502.23
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
1,992.32 4,980.00 5,335.55
1.00
18,946.00 18,946.00 ###
3,250.00 3,250.00 3,250.00
0.00 0.00 0.00
(4,008.30) 58,800.00 ###

(627.02) 600.00 2,468.98

0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
(8,299.26) 3,713.00 ###

0.00 0.00 0.00

0.00 0.00 0.00
9,261.42 85,309.00 ###
 1.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
(118,360.50) (344,682.67) ###
1.00
4,054.35 0.00 4,054.35
(114,306.15) (344,682.67) 1.00
 Courtney Downs Apartments
Aug-07
LEASING & OCCUPANCY

NUMBER OF MOVE INS: 24 INCOME THIS MONTH: $289,165.55

NUMBER OF MOVE OUTS: 28 INCOME LAST MONTH: $281,080.63
NET FOR THE MONTH: -4 DIFFERENCE: $8,084.92

TOTAL # GARAGES 120

# GARAGES OCCUPIED 115
OCCUPIED/LEASED %: 97.2%, 98.1% GARAGES OCCUPIED % 96%

SOURCE OF TRAFFIC: REASONS WHY PROSPECTS DID NOT LEASE:

Traffic Leased
APTGUIDE.COM 0 0 * Job Transfer 6
APARTMENT GUIDE 6 1 * Too expensive. 7
YELLOW PAGES 0 0 * Future/No Availability/Waiting list 10
OTHER. NET 0 0 * Just started looking. 8
BLUE BOOK 22 11 * Waiting for Home to Sell 5
RENT.NET 0 0 * Current Lease to Expire 3
LIVES IN AREA 21 9 * Needs Ground Floor 9
RESIDENT REFERRAL 5 2 * Moved Elsewhere 0
LOCATORS 7 0 * Will return with roommate or spouse 4
RENT.COM 5 0 * Realtor Looking for Client 0
WALK-IN 9 0 * Undecided 0
SIGNAGE 3 3 * Employment pending 0
WORD OF MOUTH 0 0 * House sale pending 0
* Rented at Competitor 0
TOTALS 78 26 TOTALS 52

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 discounted rents on selected units.
This translates into one bedroom effective rents of $710, two bedrooms at $825and three bedrooms starting at $900.
Look and leases are being locked in with $250 to $500 off 1st rent on a 12 to 13 month lease.

RESIDENT RETENTION:
We had 32 leases expiring in the month of August. Five are moving due to purchasing a home and/or condo,
four are moving due to relocating, three is loosing their roommate, three due to price increase, one is moving closer to work.
four were skips, two went on month to month, one transfers on site.
Overall we had 9 renewals with an average increase of $36.66 per renewal.
INCIDENTS ON THE PROPERTY:
N/A
MAINTENANCE: ROUTINE REPLACEMENTS:
Number
Number of: Replaced Apt. #
MARKET READY UNITS 27 REFRIGERATORS 0
COMPLETE PAINTS 12 DISHWASHERS 0
TOUCH UPS 15 WINDOWS 2 2103-1, 3201-1.
WORK ORDERS 134 A/C COMPRESSORS 0
Pending Completed 0 CONDENSING UNITS 0
Misc 0 35 35 WATER HEATERS 0
Electrical 0 17 17 ICE MAKERS 0
Punch 0 27 27 GARBAGE DISPOSALS 0
HVAC 0 9 9 MICROWAVES 0
13108, 7110, 12212, 10102, 2103,
Plumbing 0 32 32 CARPETS 7 9209, 10101.
Property Ext. 0 0 0 CEILING FANS 0
Appliances 0 10 10 TOILETS 0
Safety 0 4 4 A/C FAN MOTORS 0
Total 0 134 134 COUNTER TOPS 0
ROOF LEAKS 0 CABINETS RESURFACED KITCHEN 0
12302-2, 2101-3, 2205-1, 2212-1,
7110-2, 9109-2, 9310-1, 10112-3,
12212-1, 19302-1, 6311-1, 9209-2,
13208-1, 10101-2, 10310-2, 7302-
PLUMBING LEAKS 0 BLINDS 31 1, 10102-3, 16106-2.
TUBS RESURFACED 0
TUB TILES 0

CAPITAL IMPROVEMENTS IN PROGRESS:

N/A

PROBLEM AREAS NEEDING ATTENTION:

Getting bids for curb repairs.
Pulling out summer flowers and putting mulch or rock in.

CURRENT STAFF:

Manager Nancy Howland

Assistant Manager Wendy Gillan
Leasing Consultant Carrie McMillan
Leasing Consultant Summer Wahrman
Maintenance Supervisor Gabriel Tellez
Assistant Maintenance Russell Briley
Maintenance/ Grounds Jorge Chavez and Jorge Bernal

ACCOMPLISHMENTS FOR THE MONTH:

Replaced hot tub motor.
Had parking lot cracks filled.
Pool water changed out.
Courtney Downs
RENTAL SCHEDULE
August 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 0.00 $- 0 3 7 0 3
A1V 1BR 32 704 22,528 725 1.22 $27,520 $330,240 0.00 0.00 0 0 0 0 0
A2 1BR 18 910 16,380 850 1.03 $15,300 $183,600 0.00 0.00 $- 1 0 3 0 2
B1 2BR 24 808 19,392 750 1.11 $18,000 $216,000 0.00 0.00 $- 0 3 8 0 4
B1V 2BR 32 808 25,856 760 1.14 $24,320 $291,840 0.00 0.00 $- 0 0 0 0 0
C 2BR 42 977 41,034 875 1.16 $36,750 $441,000 0.00 0.00 $- 0 1 11 2 3
C1 2BR 44 1,030 45,320 900 1.12 $39,600 $475,200 0.00 0.00 $- 3 1 0 4 3
C1V 2BR 22 1,030 22,660 925 1.15 $20,350 $244,200 0.00 0.00 $- 0 0 0 0 0
CV 2BR 24 977 23,448 875 1.18 $21,000 $252,000 0.00 0.00 $- 0 0 0 0 0
D 2BR 16 1,030 16,480 925 0.90 $14,800 $177,600 0.00 0.00 $- 0 1 2 1 3
DV 2BR 20 1,030 20,600 925 0.90 $18,500 $222,000 0.00 0.00 $- 0 0 0 0 0
E 3BR 24 1,140 27,360 1160 1.02 $27,840 $334,080 0.00 0.00 $- 2 1 4 2 5
EV 3BR 4 1,140 4,560 1160 1.02 $4,640 $55,680 0.00 0.00 $- 0 0 0 0 0

TOTAL 342 917 313,778 $870 $0.95 $297,620 $3,571,440 $- 0.00 $- 6 10 35 9 23

* Net of Concessions
 MARKET SURVEY
Courtney Downs
August-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 303-805-7200 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 $40.00
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
August-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 1.03 710 779 0.91 680 627 1.08 713 685 1.04 720 768 0.94 690 707 0.98 689 763 0.90
1B1B (B) 850 808 1.05 900 853 1.06 740 701 1.06 688 705 1.02 730 842 0.87 708 796 729 763 1.05
1B1B w/study 750 910 0.82 840 811 0.91 739 760 1.03 895 992 1040 916
1B
1B
1B w/loft
1B1B w/study 820 956 0.86 900 1051 0.86
2B2B (E) 875 977 0.90 950 1105 0.86 920 1044 0.88 975 1120 0.87 885 1115 0.79 900 1033 0.87 813 1037 0.78
2B2B (F) 900 1030 0.87 1015 1192 0.85 1060 1196 0.89 970 1220 0.80 965 1093 0.88 840 1037 1.23
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 1270 1398 0.91 1320 1330 0.99 1100 1230 0.89 1100 1356 0.81 1290 1235 1.04 897 1257 0.71
3B2B 1340 1398 0.91 1305 1235 1.04 1134 1257 1.10

% occ /leased 97 98.51% 91% 98.2 100.7 98% 0 0% 94.1 95.00% 94% 93.7 91 93% 93.7 95 94% 93.2 95 98%
Avg PSF 1 0.94 0.92 0.95 0.95 0.84 0.96 0.96
Avg Rents 884 1114 994 808 883 1131 995
/ Avail)
Units(Total 342 6 507 0 653 216 9 312 13 360 22 0 168 4

Special: look and lease

special $150 security deposit
waived and $350 off first Special: $500.00 off 1st
months rent only on Special: Reduced pricing Will not give out any Special:waive security month rent look and lease Special: All of September Special: $500 off the 1st
Rates steepelchases and arlingtons. for all floor plans. information. deposit. special. free, Look and Lease. months rent.
reflect these rates:
specials:

Ren.: 11% increase on all Ren: Info not avail per Ren: $15 to $30 increas Ren: Average $45 to $75 Ren: Free carpet cleaning
Ren: $75 to $100 increase. renewals. corporate Ren:Per corporate for 12 month lease increase. with 12mo.