(3) Exhibits:
2.1^ |
|
Agreement and Plan of Merger and First Amendment Thereto by and between Equity Residential Properties Trust and Merry Land & Investment Company, Inc. dated as of July 8, 1998 and September 4, 1998, respectively. |
2.2^^ |
|
Articles of Merger by and between Equity Residential Properties Trust and Merry Land & Investment Company, Inc. |
2.3^^^ |
|
Agreement and Plan of Merger between Equity Residential Properties Trust and Lexford Residential Trust dated as of June 30, 1999. |
2.4^^^^ |
|
Articles of Merger by and between Equity Residential Properties Trust and Lexford Residential Trust. |
2.5^^^^^ |
|
Agreement and Plan of Merger among Grove Property Trust, Grove Operating, L.P. and ERP Operating Limited Partnership dated as of July 17, 2000. |
3.1+ |
|
Second Amended and Restated Declaration of Trust of Equity Residential Properties Trust dated May 30, 1997 ("(“Declaration of Trust"Trust”). |
3.2++ |
|
Articles Supplementary to Declaration of Trust dated September 22, 1997. |
3.3+++ |
|
Articles Supplementary to Declaration of Trust dated September 30, 1998. |
3.4***** |
|
Articles Supplementary to Declaration of Trust dated September 27, 1999. |
3.5· |
|
Certificate of Correction to Articles Supplementary to Declaration of Trust dated July 6, 2000. |
3.6***** |
|
Articles Supplementary to Declaration of Trust dated March 3, 2000. |
3.7***** |
|
Articles Supplementary to Declaration of Trust dated March 23, 2000. |
3.8***** |
|
Articles Supplementary to Declaration of Trust dated May 1, 2000. |
3.9***** |
|
Articles Supplementary to Declaration of Trust dated August 11, 2000. |
3.10***** |
|
Articles Supplementary to Declaration of Trust dated December 8, 2000. |
3.11· |
|
Articles Supplementary to Declaration of Trust dated March 23, 2001. |
3.12 |
| |
52
3.12· | Articles Supplementary to Declaration of Trust dated June 22, 2001. |
3.13· |
|
Articles Supplementary to Declaration of Trust dated December 14, 2001. |
3.14· |
|
Articles of Amendment to Declaration of Trust dated December 12, 2001. |
3.15+3.15·· | Articles of Amendment to the Second Amended and Restated Declaration of Trust dated May 15, 2002. | 3.16++++ |
|
Fourth Amended and Restated Bylaws of Equity Residential Properties Trust. |
4.1* |
|
Indenture, dated October 1, 1994, between the Operating Partnership, as obligor and The First National Bank of Chicago, as trustee. |
10.1** |
|
Fifth Amended and Restated Agreement of Limited Partnership of ERP Operating Limited Partnership. |
10.2*** |
|
Noncompetition Agreement (Zell)(Zell). |
|
|
|
50
10.3*** |
|
Noncompetition Agreement (Crocker)(Crocker). |
10.4*** |
|
Noncompetition Agreement (Spector)(Spector). |
10.5*** |
|
Form of Noncompetition Agreement (other officers)officers). |
10.6*** |
|
Amended and Restated Master Reimbursement Agreement, dated as of November 1, 1996 by and between Federal National Mortgage Association and EQR-Bond Partnership. |
10.7****10.7·· |
|
Revolving Credit Agreement dated as of August 12, 1999May 29, 2002 among the Operating Partnership, the Banks listed therein, Bank of America, National Association, as administrative agent, The Chase Manhattan Bank, as syndication agent, Morgan Guaranty Trust Company of New York, as documentation agent, Banc of America Securities LLC, as joint lead arranger, and Chase Securities Inc., as joint lead arranger. |
10.8**** |
|
First Amendment to Revolving Credit Agreement dated November 10, 1999 between the Operating Partnership, Bank of America, National Association, as administrative agent, TheJP Morgan Chase Manhattan Bank, as syndication agent, Morgan Guaranty Trust Company of New York, as documentation agent and the Banks listed as signatories thereto.banks named therein. |
10.8·· | Guaranty of Payment, dated as of May 29, 2002, between the Company and Bank of America, N.A., as administrative agent. | 10.9**** |
|
Amended and Restated Limited Partnership Agreement of Lexford Properties, L.P. |
10.10· |
|
Amended and Restated Equity Residential Properties Trust Advantage Retirement Savings Plan, effective January 1, 2001. |
10.11··· |
|
Equity Residential Properties Trust Amended and Restated 19932002 Share Option and Share Award Plan, as amended.Incentive Plan. |
10.12· |
|
Change in Control Agreement dated April 1, 2000 between the Company and Douglas Crocker II. |
10.13 |
|
Form of Change in Control Agreement between the Company and other executive officers. |
10.1410.13· |
|
Form of Indemnification Agreement between the Company and each trustee and executive officer. |
10.1510.14 |
|
Amended and Restated Executive Compensation Agreement dated October 18, 2001 between the Company and Samuel Zell.Zell dated March 5, 2003, but effective as of Janurary 1, 2003. |
10.1610.15· |
|
Amended and Restated Deferred Compensation Agreement between the Company and Douglas Crocker II dated as of January 21, 2002. |
10.1710.16· |
|
Amended and Restated Deferred Compensation Agreement between the Company and Gerald A. Spector dated January 1, 2002. |
10.1810.17· |
|
Retirement Benefits Agreement between Samuel Zell and the Company dated October 18, 2001. |
1210.18···· |
Compensation Agreement between the Company and Bruce W. Duncan dated March 14, 2002. | 10.19 |
First Amendment to Compensation Agreement between the Company and Bruce W. Duncan dated February 17, 2003. | 10.20 | Employment Agreement between the Company and Bruce W. Duncan dated as of January 20, 2003. | 10.21 | Deferred Compensation Agreement between the Company and Bruce W. Duncan dated as of January 20, 2003. | 10.22···· | Compensation Agreement between the Company and Douglas Crocker II dated April 10, 2002, but effective as of January 16, 2002. | 12 | Computation of Ratio of Earnings to Combined Fixed Charges |
21 |
|
List of Subsidiaries of Equity Residential Properties Trust |
23.1 |
|
Consent of Ernst & Young LLP |
24.1 |
|
Power of Attorney for John W. Alexander dated February 27, 2002March 10, 2003. |
24.2 |
|
Power of Attorney for Stephen O. Evans dated February 27, 2002March 3, 2003. |
24.3 |
|
|
51
24.3 |
|
Power of Attorney for Errol R. Halperin dated March 4, 2002 |
24.4 |
| Power of Attorney for Edward Lowenthal dated February 22, 2002March 3, 2003. |
24.524.4 |
|
Power of Attorney for Jeffrey H. Lynford dated March 4, 20023, 2003. |
53
24.624.5 |
|
Power of Attorney for B. Joseph White dated February 20, 200228, 2003. |
24.724.6 |
|
Power of Attorney for Sheli Z. Rosenberg dated February 22, 2002March 6, 2003. |
24.824.7 |
|
Power of Attorney for Henry H. Goldberg dated March 1, 2002 |
24.9 |
|
Power of Attorney for James D. Harper, Jr. dated February 21, 2002March 4, 2003. |
24.1024.8 |
|
Power of Attorney for Boone A. Knox dated February 20, 200228, 2003. |
24.1124.9 |
|
Power of Attorney for Michael N. Thompson dated February 25, 2002March 3, 2003. |
24.1224.10 |
|
Power of Attorney for Samuel Zell dated February 20, 2002March 13, 2003. |
24.1324.11 |
|
Power of Attorney for Gerald A. Spector dated February 20,March 10, 2003. | 24.12 | Power of Attorney for Douglas Crocker II dated March 11, 2003. | 99.1 | Certification Pursuant to 18 U.S.C. Section 1350, as adopted, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, of Bruce W. Duncan, Chief Executive Officer of the Company. | 99.2 | Certification Pursuant to 18 U.S.C. Section 1350, as adopted, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, of David J. Neithercut, Chief Financial Officer of the Company. |
^ | | Included as Appendix A in the Company'sCompany’s Form S-4 filed on September 14, 1998. |
^^ |
|
Included as Appendix B in the Company'sCompany’s Form S-4 filed on September 14, 1998. |
^^^ |
|
Included as Appendix A in the Company'sCompany’s Form S-4 filed on July 23, 1999. |
^^^^ |
|
Included as an exhibit to the Company'sCompany’s Form 8-K dated October 1, 1999, filed on October 5, 1999. |
^^^^^ |
|
Included as Appendix A to the Company'sCompany’s Form S-4, Registration No. 333-44576, filed on July 23, 2000. |
+ |
|
Included as an exhibit to the Company'sCompany’s Form 8-K dated May 30, 1997, filed on June 5, 1997. |
++ |
|
Included as an exhibit to the Company'sCompany’s Form 8-A filed September 19, 1997. |
+++ |
|
Included as an exhibit to the Company'sCompany’s Form 8-A filed October 16, 1998. |
++++ |
|
Included as an exhibit to the Company'sCompany’s Form 10-Q for the quarterly period ended June 30, 2001. |
* |
|
Included as an exhibit to the Operating Partnership'sPartnership’s Form 10/A, dated December 12, 1994, File No. 0-24920, and incorporated herein by reference. |
** |
|
Included as an exhibit to the Operating Partnership'sPartnership’s Form 8-K/A dated July 23, 1998, filed on August 18, 1998. |
*** |
|
Included as an exhibit to the Company'sCompany’s Form S-11 Registration Statement, File No. 33-63158, and incorporated herein by reference. |
**** |
|
Included as an exhibit to the Company'sCompany’s Form 10-K for the year ended December 31, 1999. |
***** |
|
Included as an exhibit to the Company'sCompany’s Form 10-K for the year ended December 31, 2000. | · | Included as an exhibit to the Company’s Form 10-K for the year ended December 31, 2001. | ·· | Included as an exhibit to the Company’s Form 10-Q for the quarterly period ended June 30, 2002. | ··· | Included as an exhibit to the Company’s Form S-8 filed on January 21, 2003. | ···· | Included as an exhibit to the Company’s Form 10-Q for the quarterly period ended March 31, 2002. | | | (b) | Reports on Form 8-K: None. | (c) | Exhibits: See Item 15(a)(3) above. | (d) | Financial Statement Schedules: See Index to Financial Statements attached hereto on page F-1 of this Form 10-K. | | | |
(b) Reports on Form 8-K:None.
54
(c) Exhibits:
See Item 14(a)(3) above.(d) Financial Statement Schedules:SIGNATURESSee Index to Financial Statements attached hereto on page F-1 of this Form 10-K.
52
SIGNATURES
Pursuant to the requirements of the Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on behalf by the undersigned thereunto duly authorized.
|
|
EQUITY RESIDENTIAL PROPERTIES TRUST
|
| | | Date: March 7, 200214, 2003 |
|
By: |
/s/ |
By:Bruce W. Duncan |
| |
/s/ DOUGLAS CROCKER II
Douglas Crocker II
| | Bruce W. Duncan | | | | President, Chief Executive Officer,
Trustee and *Attorney-in-FactTrustee |
| | | | Date: March 7, 200214, 2003 |
|
By: |
/s/ |
By: |
|
/s/ DAVID J. NEITHERCUT
David J. Neithercut
| | | | | David J. Neithercut | | | | Executive Vice President and Chief Financial Officer |
| | | Date: March 7, 200214, 2003 |
|
By: |
/s/ |
By: |
|
/s/ MICHAEL J. MCHUGH
Michael J. McHugh
| | | | | | Michael J. McHugh | | | | Executive Vice President, Chief Accounting Officer, Treasurer and *Attorney-in-fact |
Pursuant to the requirements of the Securities Exchange Act of 1934, the following persons on behalf of the registrant and in the capacities and on the dates indicated have signed this report below.
Date: March 7, 200214, 2003 |
|
By: |
/s/ |
By:Samuel Zell* |
| |
/s/ SAMUEL ZELL
| | Samuel Zell
| | | | Chairman of the Board of Trustees |
| | | Date: March 7, 200214, 2003 |
|
By: |
/s/ |
By:Douglas Crocker II* |
| |
| | Douglas Crocker II | | | | Vice Chairman of the Board of Trustees | | | | Date: March 14, 2003 | | By: | /s/GERALD | Gerald A. SPECTOR Spector* | | | | | | Gerald A. Spector
| | | | | Executive Vice President, Chief Operating Officer and Trustee |
| | | | | Date: March 7, 200214, 2003 |
|
By: |
/s/ |
By:Sheli Z. Rosenberg* |
| |
/s/ SHELI Z. ROSENBERG
| | | Sheli Z. Rosenberg
Trustee | |
| | | | Trustee | | | | | | | Date: March 7, 200214, 2003 |
|
By: |
/s/ |
By:James D. Harper* |
| |
/s/ JAMES D. HARPER*
| | | James D. Harper
Trustee | | | | | | Trustee | | | | | | | | |
55
SIGNATURES - - CONTINUED Date: March 7, 200214, 2003 |
|
By: |
/s/ |
By:John W. Alexander* |
|
/s/ ERROL R. HALPERIN*
Errol R. Halperin
Trustee |
|
|
|
|
|
|
|
53
Date: March 7, 2002 |
|
|
|
By: |
|
/s/ JOHN W. ALEXANDER* John W. Alexander
Trustee | |
| | | Trustee | | | | | Date: March 7, 200214, 2003 |
|
By: |
/s/ |
By:B. Joseph White* |
| |
/s/ B. JOSEPH WHITE*
| | B. Joseph White
Trustee | |
| | | Trustee | | | | | Date: March 7, 200214, 2003 |
|
By: |
/s/ |
By:Jeffrey H. Lynford* |
|
/s/ HENRY H. GOLDBERG*
Henry H. Goldberg
Trustee |
Date: March 7, 2002 |
|
|
|
By: |
|
/s/ JEFFREY H. LYNFORD*
Jeffrey H. Lynford
Trustee | |
| | | | Trustee | | | | | | | Date: March 7, 200214, 2003 |
|
By: |
/s/ |
By:Edward Lowenthal* |
|
/s/ EDWARD LOWENTHAL*
Edward Lowenthal
Trustee |
| | | | Edward Lowenthal | | | | | | Trustee | | | | | | | Date: March 7, 200214, 2003 |
|
By: |
/s/ |
By:Stephen O. Evans* |
| |
/s/ STEPHEN O. EVANS*
| | | Stephen O. Evans
Trustee | |
| | | | Trustee | | | | | | | Date: March 7, 200214, 2003 |
|
By: |
/s/ |
By:Boone A. Knox* |
| |
/s/ BOONE A. KNOX*
| | | Boone A. Knox
Trustee | |
| | | | Trustee | | | | | | | Date: March 7, 200214, 2003 |
|
By: |
/s/ |
By:Michael N. Thompson* |
| |
/s/ MICHAEL N. THOMPSON*
| | | Michael N. Thompson
| | | | | | Trustee | | | | | | | | |
*By: |
/s/ Michael J. McHugh |
/s/ MICHAEL J. MCHUGH
| | Michael J. McHugh as Attorney-in-fact | |
|
|
|
|
54
56
CERTIFICATIONS I, Bruce W. Duncan, Chief Executive Officer of Equity Residential, certify that: 1. I have reviewed this annual report on Form 10-K of Equity Residential; 2. Based on my knowledge, this annual report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this annual report. 3. Based on my knowledge, the financial statements, and other financial information included in this annual report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this annual report; 4. The registrant’s other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and have: a) designed such disclosure controls and procedures to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this annual report is being prepared; b) evaluated the effectiveness of the registrant’s disclosure controls and procedures as of a date within 90 days prior to the filing date of this annual report (the “Evaluation Date”); and c) presented in this annual report our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date; 5. The registrant’s other certifying officers and I have disclosed, based on our most recent evaluation, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing equivalent functions): a) all significant deficiencies in the design or operation of internal controls which could adversely affect the registrant’s ability to record, process, summarize and report financial data and have identified for the registrant’s auditors any material weaknesses in internal controls; and b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal controls; and 6. The registrant’s other certifying officers and I have indicated in this annual report whether there were significant changes in internal controls or other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses. Date: March 14, 2003 | | | | | | | /s/Bruce W. Duncan | | | Chief Executive Officer |
57
CERTIFICATIONS I, David J. Neithercut, Chief Financial Officer of Equity Residential, certify that: 1. I have reviewed this annual report on Form 10-K of Equity Residential; 2. Based on my knowledge, this annual report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this annual report. 3. Based on my knowledge, the financial statements, and other financial information included in this annual report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this annual report; 4. The registrant’s other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and have: a) designed such disclosure controls and procedures to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this annual report is being prepared; b) evaluated the effectiveness of the registrant’s disclosure controls and procedures as of a date within 90 days prior to the filing date of this annual report (the “Evaluation Date”); and c) presented in this annual report our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date; 5. The registrant’s other certifying officers and I have disclosed, based on our most recent evaluation, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing equivalent functions): a) all significant deficiencies in the design or operation of internal controls which could adversely affect the registrant’s ability to record, process, summarize and report financial data and have identified for the registrant’s auditors any material weaknesses in internal controls; and b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal controls; and 6. The registrant’s other certifying officers and I have indicated in this annual report whether there were significant changes in internal controls or other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses. Date: March 14, 2003 | | | | | | | /s/ David J. Neithercut | | | Chief Financial Officer |
58
EXHIBIT INDEX Exhibit | | Document | | | | 10.14 | | Amended and Restated Executive Compensation Agreement between the Company and Samuel Zell dated March 5, 2003, but effective January 1, 2003. | | | | 10.19 | | First Amendment to Compensation Agreement between the Company and Bruce W. Duncan dated February 17, 2003. | | | | 10.20 | | Employment Agreement between the Company and Bruce W. Duncan dated as of January 20, 2003. | | | | 10.21 | | Deferred Compensation Agreement between the Company and Bruce W. Duncan dated as of January 20, 2003. | | | | 12 | | Computation of Ratio of Earnings to Combined Fixed Charges | | | | 21 | | List of Subsidiaries of Equity Residential | | | | 23.1 | | Consent of Ernst & Young LLP | | | | 24.1 | | Power of Attorney for John W. Alexander dated March 10, 2003. | 24.2 | | Power of Attorney for Stephen O. Evans dated March 3, 2003. | 24.3 | | Power of Attorney for Edward Lowenthal dated March 3, 2003. | 24.4 | | Power of Attorney for Jeffrey H. Lynford dated March 3, 2003. | 24.5 | | Power of Attorney for B. Joseph White dated February 28, 2003. | 24.6 | | Power of Attorney for Sheli Z. Rosenberg dated March 6, 2003. | 24.7 | | Power of Attorney for James D. Harper, Jr. dated March 4, 2003. | 24.8 | | Power of Attorney for Boone A. Knox dated February 28, 2003. | 24.9 | | Power of Attorney for Michael N. Thompson dated March 3, 2003. | 24.10 | | Power of Attorney for Samuel Zell dated March 13, 2003. | 24.11 | | Power of Attorney for Gerald A. Spector dated March 10, 2003. | 24.12 | | Power of Attorney for Douglas Crocker II dated March 11, 2003. | | | | 99.1 | | Certification pursuant to 18 U.S.C. Section 1350, as adopted, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 of Bruce W. Duncan, Chief Executive Officer of Registrant | | | | 99.2 | | Certification pursuant to 18 U.S.C. Section 1350, as adopted, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 of David J. Neithercut, Chief Financial Officer of Registrant |
59
INDEX TO FINANCIAL STATEMENTS AND SCHEDULE
EQUITY RESIDENTIAL PROPERTIES TRUST
F-1
REPORT OF INDEPENDENT AUDITORS
To the Board of Trustees and Shareholders
Equity Residential Properties Trust We have audited the accompanying consolidated balance sheets of Equity Residential Properties Trust (the "Company"“Company”) as of December 31, 20012002 and 20002001 and the related consolidated statements of operations, changes in shareholders'shareholders’ equity and cash flows for each of the three years in the period ended December 31, 2001.2002. Our audits also included the financial statement schedule listed in the accompanying index to financial statements and schedule. These financial statements and schedule are the responsibility of the Company'sCompany’s management. Our responsibility is to express an opinion on these financial statements and schedule based on our audits. We conducted our audits in accordance with auditing standards generally accepted in the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the consolidated financial position of Equity Residential Properties Trust at December 31, 20012002 and 2000,2001, and the consolidated results of its operations and its cash flows for each of the three years in the period ended December 31, 2001,2002, in conformity with accounting principles generally accepted in the United States. Also, in our opinion, the related financial statement schedule, when considered in relation to the basic financial statements taken as a whole, presents fairly in all material respects the information set forth therein. As discussed in Note 2 to the consolidated financial statements, in 2002 the Company changed its method of accounting for goodwill and discontinued operations and in 2001 the Company changed its method of accounting for derivative instruments and hedging activities. Chicago, Illinois
February 5, 2002
| | | | | /s/ ERNST & YOUNG LLP | | | Chicago, Illinois | | February 4, 2003 | |
F-2
EQUITY RESIDENTIAL PROPERTIES TRUST
CONSOLIDATED BALANCE SHEETS
(Amounts in thousands except for share amounts)
| | December 31, 2001
| | December 31, 2000
| |
---|
ASSETS | | | | | | | | Investment in real estate | | | | | | | | | Land | | $ | 1,840,170 | | $ | 1,770,019 | | | Depreciable property | | | 11,096,847 | | | 10,782,311 | | | Construction in progress | | | 79,166 | | | 39,209 | | | |
| |
| | | | | 13,016,183 | | | 12,591,539 | | | Accumulated depreciation | | | (1,718,845 | ) | | (1,352,236 | ) | | |
| |
| | Investment in real estate, net of accumulated depreciation | | | 11,297,338 | | | 11,239,303 | | Real estate held for disposition | | | 3,371 | | | 51,637 | | Cash and cash equivalents | | | 51,603 | | | 23,772 | | Investment in mortgage notes, net | | | — | | | 77,184 | | Investments in unconsolidated entities | | | 397,237 | | | 322,409 | | Rents receivable | | | 2,400 | | | 1,801 | | Deposits — restricted | | | 218,557 | | | 231,639 | | Escrow deposits — mortgage | | | 76,700 | | | 70,470 | | Deferred financing costs, net | | | 27,011 | | | 29,706 | | Rental furniture, net | | | 20,168 | | | 60,183 | | Property and equipment, net | | | 3,063 | | | 7,620 | | Goodwill, net | | | 47,291 | | | 67,589 | | Other assets | | | 90,886 | | | 80,653 | | | |
| |
| | | | Total assets | | $ | 12,235,625 | | $ | 12,263,966 | | | |
| |
| | LIABILITIES AND SHAREHOLDERS' EQUITY | | | | | | | | Liabilities: | | | | | | | | | Mortgage notes payable | | $ | 3,286,814 | | $ | 3,230,611 | | | Notes, net | | | 2,260,944 | | | 2,120,079 | | | Lines of credit | | | 195,000 | | | 355,462 | | | Accounts payable and accrued expenses | | | 108,254 | | | 107,818 | | | Accrued interest payable | | | 62,360 | | | 51,877 | | | Rents received in advance and other liabilities | | | 83,005 | | | 100,819 | | | Security deposits | | | 47,644 | | | 46,272 | | | Distributions payable | | | 141,832 | | | 18,863 | | | |
| |
| | | | Total liabilities | | | 6,185,853 | | | 6,031,801 | | | |
| |
| | Commitments and contingencies | | | | | | | | Minority Interests: | | | | | | | | | Operating Partnership | | | 379,898 | | | 415,838 | | | Preference Interests | | | 246,000 | | | 186,000 | | | Junior Preference Units | | | 5,846 | | | 7,896 | | | Partially Owned Properties | | | 4,078 | | | 2,884 | | | |
| |
| | | | Total Minority Interests | | | 635,822 | | | 612,618 | | | |
| |
| | Shareholders' equity: | | | | | | | | | Preferred Shares of beneficial interest, $.01 par value; 100,000,000 shares authorized; 11,344,521 shares issued and outstanding as of December 31, 2001 and 20,003,166 shares issued and outstanding as of December 31, 2000 | | | 966,671 | | | 1,183,136 | | | Common Shares of beneficial interest, $.01 par value; 1,000,000,000 shares authorized; 271,621,374 shares issued and outstanding as of December 31, 2001 and 265,232,750 shares issued and outstanding as of December 31, 2000 | | | 2,716 | | | 2,652 | | | Paid in capital | | | 4,892,744 | | | 4,753,371 | | | Employee notes | | | (4,043 | ) | | (4,346 | ) | | Deferred compensation | | | (25,778 | ) | | (14,915 | ) | | Distributions in excess of accumulated earnings | | | (385,320 | ) | | (300,351 | ) | | Accumulated other comprehensive loss | | | (33,040 | ) | | — | | | | Total shareholders' equity | | | 5,413,950 | | | 5,619,547 | | | |
| |
| | | | Total liabilities and shareholders' equity | | $ | 12,235,625 | | $ | 12,263,966 | | | |
| |
| |
| | December 31, 2002 | | December 31, 2001 | | ASSETS | | | | | | Investment in real estate | | | | | | Land | | $ | 1,803,577 | | $ | 1,840,170 | | Depreciable property | | 11,240,245 | | 11,096,847 | | Construction in progress | | 2,441 | | 79,166 | | | | 13,046,263 | | 13,016,183 | | Accumulated depreciation | | (2,112,017 | ) | (1,718,845 | ) | Investment in real estate, net of accumulated depreciation | | 10,934,246 | | 11,297,338 | | | | | | | | Real estate held for disposition | | — | | 3,371 | | Cash and cash equivalents | | 29,875 | | 51,603 | | Investments in unconsolidated entities | | 509,789 | | 397,237 | | Rents receivable | | 2,926 | | 2,400 | | Deposits – restricted | | 141,278 | | 218,557 | | Escrow deposits – mortgage | | 50,565 | | 76,700 | | Deferred financing costs, net | | 32,144 | | 27,011 | | Rental furniture, net | | — | | 20,168 | | Property and equipment, net | | — | | 3,063 | | Goodwill, net | | 30,000 | | 47,291 | | Other assets | | 80,094 | | 90,886 | | Total assets | | $ | 11,810,917 | | $ | 12,235,625 | | | | | | | | LIABILITIES AND SHAREHOLDERS’ EQUITY | | | | | | Liabilities: | | | | | | Mortgage notes payable | | $ | 2,927,614 | | $ | 3,286,814 | | Notes, net | | 2,456,085 | | 2,260,944 | | Line of credit | | 140,000 | | 195,000 | | Accounts payable and accrued expenses | | 99,563 | | 108,254 | | Accrued interest payable | | 63,151 | | 62,360 | | Rents received in advance and other liabilities | | 129,901 | | 83,005 | | Security deposits | | 45,333 | | 47,644 | | Distributions payable | | 140,844 | | 141,832 | | Total liabilities | | 6,002,491 | | 6,185,853 | | | | | | | | Commitments and contingencies | | | | | | Minority Interests: | | | | | | Operating Partnership | | 349,646 | | 379,898 | | Preference Interests | | 246,000 | | 246,000 | | Junior Preference Units | | 5,846 | | 5,846 | | Partially Owned Properties | | 9,811 | | 4,078 | | Total Minority Interests | | 611,303 | | 635,822 | | | | | | | | Shareholders’ equity: | | | | | | Preferred Shares of beneficial interest, $0.01 par value; 100,000,000 shares authorized; 10,524,034 shares issued and outstanding as of December 31, 2002 and 11,344,521 shares issued and outstanding as of December 31, 2001 | | 946,157 | | 966,671 | | Common Shares of beneficial interest, $0.01 par value; 1,000,000,000 shares authorized; 271,095,481 shares issued and outstanding as of December 31, 2002 and 271,621,374 shares issued and outstanding as of December 31, 2001 | | 2,711 | | 2,716 | | Paid in capital | | 4,839,218 | | 4,892,744 | | Employee notes | | — | | (4,043 | ) | Deferred compensation | | (12,118 | ) | (25,778 | ) | Distributions in excess of accumulated earnings | | (535,056 | ) | (385,320 | ) | Accumulated other comprehensive loss | | (43,789 | ) | (33,040 | ) | Total shareholders’ equity | | 5,197,123 | | 5,413,950 | | Total liabilities and shareholders’ equity | | $ | 11,810,917 | | $ | 12,235,625 | |
See accompanying notes F-3
EQUITY RESIDENTIAL PROPERTIES TRUST
CONSOLIDATED STATEMENTS OF OPERATIONS
(Amounts in thousands except per share data)
| | Year Ended December 31,
| |
---|
| | 2001
| | 2000
| | 1999
| |
---|
REVENUES | | | | | | | | | | | | Rental income | | $ | 2,074,961 | | $ | 1,955,046 | | $ | 1,711,738 | | | Fee and asset management | | | 7,498 | | | 6,520 | | | 5,088 | | | Interest income — investment in mortgage notes | | | 8,786 | | | 11,192 | | | 12,559 | | | Interest and other income | | | 21,899 | | | 25,266 | | | 13,242 | | | Furniture income | | | 57,499 | | | 32,316 | | | — | | | |
| |
| |
| | | | Total revenues | | | 2,170,643 | | | 2,030,340 | | | 1,742,627 | | | |
| |
| |
| | EXPENSES | | | | | | | | | | | | Property and maintenance | | | 549,010 | | | 502,796 | | | 414,026 | | | Real estate taxes and insurance | | | 192,598 | | | 182,479 | | | 171,289 | | | Property management | | | 77,132 | | | 76,416 | | | 61,626 | | | Fee and asset management | | | 7,345 | | | 5,157 | | | 3,587 | | | Depreciation | | | 457,232 | | | 444,207 | | | 408,688 | | | Interest: | | | | | | | | | | | | | Expense incurred, net | | | 355,250 | | | 366,622 | | | 330,548 | | | | Amortization of deferred financing costs | | | 5,841 | | | 5,473 | | | 4,084 | | | General and administrative | | | 35,414 | | | 26,385 | | | 22,296 | | | Furniture expenses | | | 58,852 | | | 22,108 | | | — | | | Amortization of goodwill | | | 3,779 | | | 1,760 | | | — | | | Impairment on furniture rental business | | | 60,000 | | | — | | | — | | | Impairment on technology investments | | | 11,766 | | | 1,000 | | | — | | | |
| |
| |
| | | | Total expenses | | | 1,814,219 | | | 1,634,403 | | | 1,416,144 | | | |
| |
| |
| | Income before allocation to Minority Interests, income from investments in unconsolidated entities, net gain on sales of real estate, extraordinary items and cumulative effect of change in accounting principle | | | 356,424 | | | 395,937 | | | 326,483 | | Allocation to Minority Interests: | | | | | | | | | | | | Operating Partnership | | | (32,829 | ) | | (41,761 | ) | | (29,536 | ) | | Partially Owned Properties | | | (2,249 | ) | | 132 | | | — | | Income from investments in unconsolidated entities | | | 3,772 | | | 2,309 | | | 3,850 | | Net gain on sales of real estate | | | 149,293 | | | 198,426 | | | 93,535 | | | |
| |
| |
| | Income before extraordinary items and cumulative effect of change in accounting principle | | | 474,411 | | | 555,043 | | | 394,332 | | Extraordinary items | | | 444 | | | (5,592 | ) | | (451 | ) | Cumulative effect of change in accounting principle | | | (1,270 | ) | | — | | | — | | | |
| |
| |
| | Net income | | | 473,585 | | | 549,451 | | | 393,881 | | Preferred distributions | | | (106,119 | ) | | (111,941 | ) | | (113,196 | ) | | |
| |
| |
| | Net income available to Common Shares | | $ | 367,466 | | $ | 437,510 | | $ | 280,685 | | | |
| |
| |
| | Net income per share — basic | | $ | 1.37 | | $ | 1.69 | | $ | 1.15 | | | |
| |
| |
| | Net income per share — diluted | | $ | 1.36 | | $ | 1.67 | | $ | 1.14 | | | |
| |
| |
| | Weighted average Common Shares outstanding — basic | | | 267,349 | | | 259,015 | | | 244,350 | | | |
| |
| |
| | Weighted average Common Shares outstanding — diluted | | | 295,552 | | | 291,266 | | | 271,310 | | | |
| |
| |
| | Distributions declared per Common Share outstanding | | $ | 1.680 | | $ | 1.575 | | $ | 1.470 | | | |
| |
| |
| |
| | Year Ended December 31, | | | | 2002 | | 2001 | | 2000 | | REVENUES | | | | | | | | Rental income | | $ | 1,969,617 | | $ | 2,001,637 | | $ | 1,884,530 | | Fee and asset management | | 9,582 | | 7,498 | | 6,520 | | Interest and other income | | 14,854 | | 21,828 | | 25,198 | | Interest income – investment in mortgage notes | | — | | 8,786 | | 11,192 | | Total revenues | | 1,994,053 | | 2,039,749 | | 1,927,440 | | | | | | | | | | EXPENSES | | | | | | | | Property and maintenance | | 515,481 | | 529,075 | | 483,716 | | Real estate taxes and insurance | | 199,350 | | 185,255 | | 175,726 | | Property management | | 72,121 | | 77,132 | | 76,416 | | Fee and asset management | | 7,842 | | 7,345 | | 5,157 | | Depreciation | | 462,341 | | 439,565 | | 427,799 | | Interest: | | | | | | | | Expense incurred, net | | 337,489 | | 352,903 | | 363,851 | | Amortization of deferred financing costs | | 5,748 | | 5,818 | | 5,432 | | General and administrative | | 46,492 | | 35,414 | | 26,385 | | Impairment on corporate housing business | | 17,122 | | — | | — | | Impairment on technology investments | | 1,162 | | 11,766 | | 1,000 | | Amortization of goodwill | | — | | 2,356 | | 1,080 | | Total expenses | | 1,665,148 | | 1,646,629 | | 1,566,562 | | Income before allocation to Minority Interests, income (loss) from investments in unconsolidated entities, net gain on sales of unconsolidated entities, discontinued operations, extraordinary items and cumulative effect of change in accounting principle | | 328,905 | | 393,120 | | 360,878 | | Allocation to Minority Interests: | | | | | | | | Operating Partnership | | (26,862 | ) | (32,829 | ) | (41,761 | ) | Partially Owned Properties | | (1,867 | ) | (2,249 | ) | 132 | | Income (loss) from investments in unconsolidated entities | | (3,698 | ) | 3,772 | | 2,309 | | Net gain on sales of unconsolidated entities | | 5,054 | | 387 | | — | | Income before discontinued operations, extraordinary items and cumulative effect of change in accounting principle | | 301,532 | | 362,201 | | 321,558 | | Net gain on sales of discontinued operations | | 104,296 | | 148,906 | | 198,426 | | Discontinued operations, net | | 16,277 | | (36,696 | ) | 35,059 | | Income before extraordinary items and cumulative effect of change in accounting principle | | 422,105 | | 474,411 | | 555,043 | | Extraordinary items | | (792 | ) | 444 | | (5,592 | ) | Cumulative effect of change in accounting principle | | — | | (1,270 | ) | — | | Net income | | 421,313 | | 473,585 | | 549,451 | | Preferred distributions | | (97,151 | ) | (106,119 | ) | (111,941 | ) | | | | | | | | | Net income available to Common Shares | | $ | 324,162 | | $ | 367,466 | | $ | 437,510 | | | | | | | | | | Net income per share – basic | | $ | 1.19 | | $ | 1.37 | | $ | 1.69 | | | | | | | | | | Net income per share – diluted | | $ | 1.18 | | $ | 1.36 | | $ | 1.67 | | | | | | | | | | Weighted average Common Shares outstanding – basic | | 271,974 | | 267,349 | | 259,015 | | | | | | | | | | Weighted average Common Shares outstanding – diluted | | 297,969 | | 295,552 | | 291,266 | | | | | | | | | | Distributions declared per Common Share outstanding | | $ | 1.73 | | $ | 1.68 | | $ | 1.575 | |
See accompanying notes F-4
EQUITY RESIDENTIAL PROPERTIES TRUST
CONSOLIDATED STATEMENTS OF OPERATIONS (Continued)
(Amounts in thousands except per share data)
| | Year Ended December 31,
|
---|
| | 2001
| | 2000
| | 1999
|
---|
Comprehensive income: | | | | | | | | | | | Net income | | $ | 473,585 | | $ | 549,451 | | $ | 393,881 | | Other comprehensive income (loss) — derivative instruments: | | | | | | | | | | | | Cumulative effect of change in accounting principle | | | (5,334 | ) | | — | | | — | | | Unrealized holding (losses) arising during the year | | | (17,909 | ) | | — | | | — | | | Equity in unrealized holding (losses) arising during the year — unconsolidated entities | | | (10,366 | ) | | — | | | — | | | Losses reclassified into earnings from other comprehensive income | | | 569 | | | — | | | — | | |
| |
| |
| | Comprehensive income | | $ | 440,545 | | $ | 549,451 | | $ | 393,881 | | |
| |
| |
|
| | Year Ended December 31, | | | | 2002 | | 2001 | | 2000 | | Comprehensive income: | | | | | | | | | | | | | | | | Net income | | $ | 421,313 | | $ | 473,585 | | $ | 549,451 | | | | | | | | | | Other comprehensive income (loss) – derivative instruments: | | | | | | | | | | | | | | | | Cumulative effect of change in accounting principle | | — | | (5,334 | ) | — | | | | | | | | | | Unrealized holding (losses) arising during the year | | (10,905 | ) | (17,909 | ) | — | | | | | | | | | | Equity in unrealized holding (losses) arising during the year – unconsolidated entities | | (689 | ) | (10,366 | ) | — | | | | | | | | | | Losses reclassified into earnings from other comprehensive income | | 845 | | 569 | | — | | | | | | | | | | Comprehensive income | | $ | 410,564 | | $ | 440,545 | | $ | 549,451 | |
See accompanying notes F-5
EQUITY RESIDENTIAL PROPERTIES TRUST
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Amounts in thousands)
| | Year Ended December 31,
| |
---|
| | 2001
| | 2000
| | 1999
| |
---|
CASH FLOWS FROM OPERATING ACTIVITIES: | | | | | | | | | | | Net income | | $ | 473,585 | | $ | 549,451 | | $ | 393,881 | | Adjustments to reconcile net income to net cash provided by operating activities: | | | | | | | | | | | | Allocation to Minority Interests: | | | | | | | | | | | | | Operating Partnership | | | 32,829 | | | 41,761 | | | 29,536 | | | | Partially Owned Properties | | | 2,249 | | | (132 | ) | | — | | Cumulative effect of change in accounting principle | | | 1,270 | | | — | | | — | | Depreciation | | | 467,942 | | | 449,584 | | | 408,688 | | Amortization of deferred financing costs | | | 5,841 | | | 5,473 | | | 4,084 | | Amortization of discount on investment in mortgage notes | | | (2,256 | ) | | (1,249 | ) | | (1,165 | ) | Amortization of goodwill | | | 3,779 | | | 1,760 | | | — | | Amortization of discounts and premiums on debt | | | (1,841 | ) | | (2,332 | ) | | (2,322 | ) | Amortization of deferred settlements on interest rate protection agreements | | | 591 | | | 333 | | | 987 | | Impairment on furniture rental business | | | 60,000 | | | — | | | — | | Impairment on technology investments | | | 11,766 | | | 1,000 | | | — | | Income from investments in unconsolidated entities | | | (3,772 | ) | | (2,309 | ) | | (3,850 | ) | Net gain on sales of real estate | | | (149,293 | ) | | (198,426 | ) | | (93,535 | ) | Net loss (gain) on sales of property and equipment | | | 109 | | | (4 | ) | | — | | Extraordinary items | | | (444 | ) | | 5,592 | | | 451 | | Unrealized gain on interest rate protection agreements | | | (223 | ) | | — | | | — | | Loss on sale of mortgage receivable | | | — | | | 710 | | | — | | Book value of furniture sales and rental buyouts | | | 11,411 | | | 6,345 | | | — | | Compensation paid with Company Common Shares | | | 18,164 | | | 15,085 | | | 9,625 | | Changes in assets and liabilities: | | | | | | | | | | | | (Increase) decrease in rents receivable | | | (399 | ) | | (415 | ) | | 3,559 | | | (Increase) decrease in deposits — restricted | | | (10,468 | ) | | 4,207 | | | (9,953 | ) | | Additions to rental furniture | | | (18,611 | ) | | (13,661 | ) | | — | | | (Increase) decrease in other assets | | | (17,694 | ) | | (7,969 | ) | | 54,820 | | | (Decrease) in accounts payable and accrued expenses | | | (633 | ) | | (4,843 | ) | | (5,610 | ) | | Increase (decrease) in accrued interest payable | | | 10,293 | | | 3,104 | | | (6,387 | ) | | (Decrease) increase in rents received in advance and other liabilities | | | (4,315 | ) | | (11,489 | ) | | 7,963 | | | (Decrease) increase in security deposits | | | (103 | ) | | 1,025 | | | (1,802 | ) | | |
| |
| |
| | | Net cash provided by operating activities | | | 889,777 | | | 842,601 | | | 788,970 | | | |
| |
| |
| | CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | | | | | | | | Investment in real estate | | | (394,039 | ) | | (659,181 | ) | | (632,474 | ) | | Improvements to real estate | | | (150,927 | ) | | (137,404 | ) | | (134,716 | ) | | Additions to non-real estate property | | | (6,920 | ) | | (5,425 | ) | | (7,219 | ) | | Interest capitalized for real estate under development | | | (28,174 | ) | | (17,650 | ) | | (8,134 | ) | | Proceeds from disposition of real estate, net | | | 566,068 | | | 721,032 | | | 329,342 | | | Investment in property and equipment | | | (2,461 | ) | | (933 | ) | | — | | | Principal receipts on investment in mortgage notes | | | 61,419 | | | 7,885 | | | 4,229 | | | Investments in unconsolidated entities | | | (142,565 | ) | | (149,033 | ) | | (37,114 | ) | | Distributions from unconsolidated entities | | | 28,332 | | | 19,243 | | | 7,125 | | | Proceeds from refinancing of unconsolidated entities | | | 24,404 | | | 1,695 | | | — | | | Proceeds from disposition of unconsolidated entities | | | 655 | | | 4,602 | | | — | | | Repayments of equity from unconsolidated entities | | | 7,336 | | | — | | | — | | | Decrease (increase) in deposits on real estate acquisitions, net | | | 52,340 | | | (122,735 | ) | | (25,563 | ) | | Decrease (increase) in mortgage deposits | | | (1,626 | ) | | 18,854 | | | 11,117 | | | Purchase of management contract rights | | | — | | | (779 | ) | | (285 | ) |
| | Year Ended December 31, | | | | 2002 | | 2001 | | 2000 | | CASH FLOWS FROM OPERATING ACTIVITIES: | | | | | | | | Net income | | $ | 421,313 | | $ | 473,585 | | $ | 549,451 | | Adjustments to reconcile net income to net cash provided by operating activities: | | | | | | | | Allocation to Minority Interests: | | | | | | | | Operating Partnership | | 26,862 | | 32,829 | | 41,761 | | Partially Owned Properties | | 1,867 | | 2,249 | | (132 | ) | Cumulative effect of change in accounting principle | | — | | 1,270 | | — | | Depreciation | | 472,956 | | 467,942 | | 449,584 | | Amortization of deferred financing costs | | 5,754 | | 5,841 | | 5,473 | | Amortization of discount on investment in mortgage notes | | — | | (2,256 | ) | (1,249 | ) | Amortization of goodwill | | — | | 3,779 | | 1,760 | | Amortization of discounts and premiums on debt | | (822 | ) | (1,841 | ) | (2,332 | ) | Amortization of deferred settlements on interest rate protection agreements | | (306 | ) | 591 | | 333 | | Impairment on corporate housing business | | 17,122 | | — | | — | | Impairment on furniture rental business | | — | | 60,000 | | — | | Impairment on technology investments | | 1,162 | | 11,766 | | 1,000 | | Loss (income) from investments in unconsolidated entities | | 3,698 | | (3,772 | ) | (2,309 | ) | Net (gain) on sales of discontinued operations | | (104,296 | ) | (148,906 | ) | (198,426 | ) | Net (gain) on sales of unconsolidated entities | | (5,054 | ) | (387 | ) | — | | Extraordinary items | | 792 | | (444 | ) | 5,592 | | Unrealized loss (gain) on interest rate protection agreements | | 328 | | (223 | ) | — | | Book value of furniture sales and rental buyouts | | — | | 11,411 | | 6,345 | | Compensation paid with Company Common Shares | | 25,796 | | 18,164 | | 15,085 | | | | | | | | | | Changes in assets and liabilities: | | | | | | | | (Increase) in rents receivable | | (570 | ) | (399 | ) | (415 | ) | Decrease (increase) in deposits – restricted | | 9,896 | | (10,468 | ) | 4,207 | | Additions to rental furniture | | — | | (18,611 | ) | (13,661 | ) | Decrease (increase) in other assets | | 14,531 | | (17,694 | ) | (8,038 | ) | (Decrease) in accounts payable and accrued expenses | | (3,392 | ) | (633 | ) | (4,843 | ) | Increase in accrued interest payable | | 406 | | 10,293 | | 3,104 | | Increase (decrease) in rents received in advance and other liabilities | | 3,046 | | (4,315 | ) | (11,489 | ) | (Decrease) increase in security deposits | | (2,151 | ) | (103 | ) | 1,025 | | Net cash provided by operating activities | | 888,938 | | 889,668 | | 841,826 | | | | | | | | | | CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | | | | Investment in real estate – acquisitions | | (258,269 | ) | (297,794 | ) | (625,796 | ) | Investment in real estate – development | | (109,077 | ) | (96,245 | ) | (33,385 | ) | Improvements to real estate | | (156,776 | ) | (150,927 | ) | (137,404 | ) | Additions to non-real estate property | | (7,301 | ) | (6,920 | ) | (5,425 | ) | Interest capitalized for real estate under development | | (10,006 | ) | (8,309 | ) | (1,405 | ) | Interest capitalized for unconsolidated entities under development | | (17,161 | ) | (19,865 | ) | (16,245 | ) | Proceeds from disposition of real estate, net | | 478,675 | | 566,068 | | 721,032 | | Proceeds from disposition of furniture rental business | | 28,741 | | — | | — | | Proceeds from disposition of unconsolidated entities | | 49,862 | | 655 | | 4,602 | | Proceeds from refinancing of unconsolidated entities | | 4,375 | | 24,404 | | 1,695 | | Investments in unconsolidated entities | | (105,758 | ) | (142,565 | ) | (149,033 | ) | Distributions from unconsolidated entities | | 41,656 | | 35,668 | | 19,243 | | Decrease (increase) in deposits on real estate acquisitions, net | | 24,845 | | 52,340 | | (122,735 | ) | Decrease (increase) in mortgage deposits | | 27,425 | | (1,626 | ) | 18,854 | | Business combinations, net of cash acquired | | (677 | ) | (8,785 | ) | (242,281 | ) | Consolidation of previously Unconsolidated Properties | | | (40,113 | ) | | 52,841 | | | (5,083 | ) | Investment in property and equipment | | — | | (2,461 | ) | (933 | ) | Principal receipts on investment in mortgage notes | | — | | 61,419 | | 7,885 | | Other investing activities, net | | 262 | | (469 | ) | 3,239 | | Net cash (used for) provided by investing activities | | (49,297 | ) | 57,429 | | (563,175 | ) |
See accompanying notes F-6
EQUITY RESIDENTIAL PROPERTIES TRUST
CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued)
(Amounts in thousands)
| | Year Ended December 31,
| |
---|
| | 2001
| | 2000
| | 1999
| |
---|
CASH FLOWS FROM INVESTING ACTIVITIES (continued): | | | | | | | | | | | | Consolidation of previously Unconsolidated Properties | | $ | 52,841 | | $ | (5,083 | ) | $ | — | | | Business combinations, net of cash acquired | | | (8,785 | ) | | (242,281 | ) | | (18,274 | ) | | Other investing activities, net | | | (578 | ) | | 3,243 | | | (14,885 | ) | | |
| |
| |
| | | Net cash provided by (used for) investing activities | | | 57,320 | | | (563,950 | ) | | (526,851 | ) | | |
| |
| |
| | CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | | | | | | Loan and bond acquisition costs | | | (4,483 | ) | | (3,590 | ) | | (9,522 | ) | Mortgage notes payable: | | | | | | | | | | | | Proceeds, net | | | 91,583 | | | 729,978 | | | 204,986 | | | Lump sum payoffs | | | (364,229 | ) | | (380,541 | ) | | (105,846 | ) | | Scheduled principal repayments | | | (32,671 | ) | | (27,719 | ) | | (21,147 | ) | | Prepayment premiums/fees | | | (208 | ) | | (5,801 | ) | | (451 | ) | Notes, net: | | | | | | | | | | | | Proceeds | | | 299,316 | | | — | | | 298,014 | | | Lump sum payoffs | | | (150,000 | ) | | (208,000 | ) | | (152,266 | ) | | Scheduled principal repayments | | | (4,774 | ) | | (498 | ) | | — | | Lines of credit: | | | | | | | | | | | | Proceeds | | | 738,491 | | | 808,637 | | | 1,372,000 | | | Repayments | | | (898,953 | ) | | (820,631 | ) | | (1,388,383 | ) | (Payments) proceeds from settlement of interest rate protection agreements | | | (7,369 | ) | | 7,055 | | | 1,380 | | Proceeds from sale of Common Shares | | | 8,991 | | | 7,676 | | | 7,717 | | Proceeds from sale of Preferred Shares/Units | | | 60,000 | | | 146,000 | | | 40,000 | | Proceeds from exercise of options | | | 65,411 | | | 25,228 | | | 30,750 | | Common Shares repurchased and retired | | | — | | | — | | | (6,252 | ) | Redemption of Preferred Shares | | | (210,500 | ) | | — | | | — | | Payment of offering costs | | | (2,223 | ) | | (3,944 | ) | | (1,625 | ) | Distributions: | | | | | | | | | | | | Common Shares | | | (335,534 | ) | | (412,321 | ) | | (364,183 | ) | | Preferred Shares/Units | | | (110,194 | ) | | (111,943 | ) | | (113,153 | ) | | Minority Interests — Operating Partnership | | | (30,067 | ) | | (39,153 | ) | | (37,580 | ) | | Minority Interests — Partially Owned Properties | | | (32,156 | ) | | (920 | ) | | — | | Principal receipts on employee notes, net | | | 303 | | | 324 | | | 203 | | Principal receipts on other notes receivable, net | | | — | | | 6,167 | | | 8,391 | | | |
| |
| |
| | | | Net cash (used for) financing activities | | | (919,266 | ) | | (283,996 | ) | | (236,967 | ) | | |
| |
| |
| | Net increase (decrease) in cash and cash equivalents | | | 27,831 | | | (5,345 | ) | | 25,152 | | Cash and cash equivalents, beginning of year | | | 23,772 | | | 29,117 | | | 3,965 | | | |
| |
| |
| | Cash and cash equivalents, end of year | | $ | 51,603 | | $ | 23,772 | | $ | 29,117 | | | |
| |
| |
| |
| | Year Ended December 31, | | | | 2002 | | 2001 | | 2000 | | CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | | | Loan and bond acquisition costs | | $ | (11,233 | ) | $ | (4,483 | ) | $ | (3,590 | ) | Mortgage notes payable: | | | | | | | | Proceeds | | 126,144 | | 91,583 | | 729,978 | | Lump sum payoffs | | (374,983 | ) | (364,229 | ) | (380,541 | ) | Scheduled principal repayments | | (32,731 | ) | (32,671 | ) | (27,719 | ) | Prepayment premiums/fees | | (792 | ) | (208 | ) | (5,801 | ) | Notes, net: | | | | | | | | Proceeds | | 447,064 | | 299,316 | | — | | Lump sum payoffs | | (265,000 | ) | (150,000 | ) | (208,000 | ) | Scheduled principal repayments | | (4,669 | ) | (4,774 | ) | (498 | ) | Line of credit: | | | | | | | | Proceeds | | 776,500 | | 738,491 | | 808,637 | | Repayments | | (831,500 | ) | (898,953 | ) | (820,631 | ) | Proceeds (payments) from settlement of interest rate protection agreements | | 5,757 | | (7,369 | ) | 7,055 | | Proceeds from sale of Common Shares | | 9,411 | | 8,991 | | 7,676 | | Proceeds from sale of Preference Interests | | — | | 60,000 | | 146,000 | | Proceeds from exercise of options | | 29,578 | | 65,411 | | 25,228 | | Common Shares repurchased and retired | | (115,004 | ) | — | | — | | Redemption of Preferred Shares | | — | | (210,500 | ) | — | | Payment of offering costs | | (207 | ) | (2,223 | ) | (3,944 | ) | Distributions: | | | | | | | | Common Shares | | (473,996 | ) | (335,534 | ) | (412,321 | ) | Preferred Shares | | (76,973 | ) | (91,751 | ) | (101,028 | ) | Preference Interests | | (20,238 | ) | (18,172 | ) | (10,478 | ) | Junior Preference Units | | (325 | ) | (271 | ) | (437 | ) | Minority Interests – Operating Partnership | | (39,607 | ) | (30,067 | ) | (39,153 | ) | Minority Interests – Partially Owned Properties | | (12,608 | ) | (32,156 | ) | (920 | ) | Principal receipts on employee notes, net | | 4,043 | | 303 | | 324 | | Principal receipts on other notes receivable, net | | — | | — | | 6,167 | | Net cash (used for) financing activities | | (861,369 | ) | (919,266 | ) | (283,996 | ) | | | | | | | | | Net (decrease) increase in cash and cash equivalents | | (21,728 | ) | 27,831 | | (5,345 | ) | Cash and cash equivalents, beginning of year | | 51,603 | | 23,772 | | 29,117 | | Cash and cash equivalents, end of year | | $ | 29,875 | | $ | 51,603 | | $ | 23,772 | |
See accompanying notes F-7
EQUITY RESIDENTIAL PROPERTIES TRUST
CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued)
(Amounts in thousands)
| | Year Ended December 31,
| |
---|
| | 2001
| | 2000
| | 1999
| |
---|
SUPPLEMENTAL INFORMATION: | | | | | | | | | | | Cash paid during the year for interest | | $ | 380,745 | | $ | 380,853 | | $ | 341,936 | | | |
| |
| |
| | Mortgage loans assumed through real estate acquisitions | | $ | 91,623 | | $ | 87,441 | | $ | 69,885 | | | |
| |
| |
| | Mortgage loans (assumed) by purchaser in real estate dispositions | | $ | 30,396 | | $ | (345,762 | ) | $ | (12,500 | ) | | |
| |
| |
| | Transfers to real estate held for disposition | | $ | 3,371 | | $ | 51,637 | | $ | 12,868 | | | |
| |
| |
| | Mortgage loans recorded as a result of consolidation of previously Unconsolidated Properties | | $ | 301,502 | | $ | 80,134 | | $ | — | | | |
| |
| |
| | Net (assets) liabilities recorded as a result of consolidation of previously Unconsolidated Properties | | $ | (20,839 | ) | $ | 515 | | $ | — | | | |
| |
| |
| | Net real estate contributed in exchange for OP Units or preference units | | $ | — | | $ | 4,071 | | $ | 28,232 | | | |
| |
| |
| | Refinancing of mortgage notes payable in favor of notes, net | | $ | — | | $ | — | | $ | 92,180 | | | |
| |
| |
| | Net (assets acquired) liabilities assumed through business combinations | | $ | — | | $ | (74,138 | ) | $ | (15,604 | ) | | |
| |
| |
| | Mortgage loans assumed through business combinations | | $ | — | | $ | 204,728 | | $ | 499,654 | | | |
| |
| |
| | Unsecured notes assumed through business combinations | | $ | — | | $ | 39,564 | | $ | 2,266 | | | |
| |
| |
| | Lines of credit assumed through business combinations | | $ | — | | $ | 67,456 | | $ | 26,383 | | | |
| |
| |
| | Valuation of Common Shares issued through business combinations | | $ | — | | $ | — | | $ | 181,124 | | | |
| |
| |
| | Valuation of OP Units issued through business combinations | | $ | — | | $ | 37,228 | | $ | — | | | |
| |
| |
| |
| | Year Ended December 31, | | | | 2002 | | 2001 | | 2000 | | | | | | | | | | SUPPLEMENTAL INFORMATION: | | | | | | | | Cash paid during the year for interest | | $ | 365,782 | | $ | 380,745 | | $ | 380,853 | | | | | | | | | | Mortgage loans assumed through real estate acquisitions | | $ | 32,355 | | $ | 91,623 | | $ | 87,441 | | | | | | | | | | Mortgage loans (assumed) by purchaser in real estate and furniture rental business dispositions | | $ | (9,924 | ) | $ | (30,396 | ) | $ | (345,762 | ) | | | | | | | | | Mortgage loans recorded as a result of consolidation of previously Unconsolidated Properties | | $ | 18,100 | | $ | 301,502 | | $ | 80,134 | | | | | | | | | | Net (assets) liabilities recorded as a result of consolidation of previously Unconsolidated Properties | | $ | 43,897 | | $ | (20,839 | ) | $ | 515 | | | | | | | | | | Mortgage loans contributed as a result of deconsolidation of previously Wholly Owned Properties | | $ | (118,376 | ) | $ | — | | $ | — | | | | | | | | | | Transfers to real estate held for disposition | | $ | — | | $ | 3,371 | | $ | 51,637 | | | | | | | | | | Net real estate contributed in exchange for OP Units or Junior Preference Units | | $ | — | | $ | — | | $ | 4,071 | | | | | | | | | | Net (assets acquired) through business combinations | | $ | — | | $ | — | | $ | (74,138 | ) | | | | | | | | | Mortgage loans assumed through business combinations | | $ | — | | $ | — | | $ | 204,728 | | | | | | | | | | Unsecured notes assumed through business combinations | | $ | — | | $ | — | | $ | 39,564 | | | | | | | | | | Lines of credit assumed through business combinations | | $ | — | | $ | — | | $ | 67,456 | | | | | | | | | | Valuation of OP Units issued through business combinations | | $ | — | | $ | — | | $ | 37,228 | |
See accompanying notes F-8
EQUITY RESIDENTIAL PROPERTIES TRUST
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY
(Amounts in thousands)
| | Year Ended December 31,
| |
---|
| | 2001
| | 2000
| | 1999
| |
---|
PREFERRED SHARES | | | | | | | | | | | Balance, beginning of year | | $ | 1,183,136 | | $ | 1,310,266 | | $ | 1,410,574 | | | Redemption of 93/8% Series A Cumulative Redeemable | | | (153,000 | ) | | — | | | — | | | Conversion of Series E Cumulative Convertible | | | (5,845 | ) | | (9,860 | ) | | (75 | ) | | Redemption of 9.65% Series F Cumulative Redeemable | | | (57,500 | ) | | — | | | — | | | Conversion of 7.25% Series G Convertible Cumulative | | | — | | | (75 | ) | | — | | | Conversion of 7.00% Series H Cumulative Convertible | | | (120 | ) | | (2,215 | ) | | (228 | ) | | Conversion of 8.82% Series I Cumulative Convertible | | | — | | | — | | | (100,000 | ) | | Conversion of 8.60% Series J Cumulative Convertible | | | — | | | (114,980 | ) | | (5 | ) | | |
| |
| |
| | Balance, end of year | | $ | 966,671 | | $ | 1,183,136 | | $ | 1,310,266 | | | |
| |
| |
| | COMMON SHARES, $.01 PAR VALUE | | | | | | | | | | | Balance, beginning of year | | $ | 2,652 | | $ | 2,550 | | $ | 2,364 | | | Issuance in connection with Mergers and acquisitions | | | — | | | — | | | 80 | | | Issuance through conversion of OP Units into Common Shares | | | 18 | | | 18 | | | 24 | | | Issuance through exercise of options | | | 32 | | | 16 | | | 20 | | | Issuance through restricted share and performance-based grants, net | | | 7 | | | 2 | | | 6 | | | Issuance through Share Purchase — DRIP Plan and Dividend Reinvestment — DRIP Plan | | | 1 | | | 2 | | | 2 | | | Issuance through Employee Share Purchase Plan | | | 3 | | | 2 | | | 4 | | | Issuance through conversion of Preferred Shares into Common Shares | | | 3 | | | 62 | | | 52 | | | Common Shares repurchased and retired | | | — | | | — | | | (2 | ) | | |
| |
| |
| | Balance, end of year | | $ | 2,716 | | $ | 2,652 | | $ | 2,550 | | | |
| |
| |
| | PAID IN CAPITAL | | | | | | | | | | | Balance, beginning of year | | $ | 4,753,371 | | $ | 4,540,869 | | $ | 4,175,747 | | | Issuance of Common Shares in connection with Mergers and acquisitions | | | — | | | 940 | | | 181,044 | | | Issuance of Common Shares through conversion of OP Units into Common Shares | | | 47,457 | | | 42,757 | | | 39,671 | | | Issuance of Common Shares through exercise of options | | | 65,379 | | | 25,212 | | | 30,730 | | | Issuance through restricted share and performance-based grants, net | | | 29,020 | | | 11,773 | | | 18,769 | | | Issuance of Common Shares through Share Purchase — DRIP Plan | | | 910 | | | 595 | | | 954 | | | Issuance of Common Shares through Dividend Reinvestment — DRIP Plan | | | 1,149 | | | 1,664 | | | 1,524 | | | Issuance of Common Shares through Employee Share Purchase Plan | | | 6,931 | | | 5,413 | | | 5,233 | | | Issuance of Common Shares through 401(k) Plan | | | — | | | — | | | 1,248 | | | Issuance of Common Shares through conversion of Preferred Shares into Common Shares | | | 5,962 | | | 127,068 | | | 100,256 | | | Common Shares repurchased and retired | | | — | | | — | | | (6,250 | ) | | Offering costs | | | (2,223 | ) | | (3,944 | ) | | (1,625 | ) | | Receipts (advances) on other notes receivable, net | | | — | | | 4,045 | | | (4,045 | ) | | Adjustment for Minority Interests ownership in Operating Partnership | | | (15,212 | ) | | (3,021 | ) | | (2,387 | ) | | |
| |
| |
| | Balance, end of year | | $ | 4,892,744 | | $ | 4,753,371 | | $ | 4,540,869 | | | |
| |
| |
| |
| | Year Ended December 31, | | | | 2002 | | 2001 | | 2000 | | | | | | | | | | PREFERRED SHARES | | | | | | | | | | | | | | | | Balance, beginning of year | | $ | 966,671 | | $ | 1,183,136 | | $ | 1,310,266 | | Redemption of 9 3/8% Series A Cumulative Redeemable | | — | | (153,000 | ) | — | | Conversion of 7.00% Series E Cumulative Convertible | | (20,442 | ) | (5,845 | ) | (9,860 | ) | Redemption of 9.65% Series F Cumulative Redeemable | | — | | (57,500 | ) | — | | Conversion of 7.25% Series G Convertible Cumulative | | (2 | ) | — | | (75 | ) | Conversion of 7.00% Series H Cumulative Convertible | | (70 | ) | (120 | ) | (2,215 | ) | Conversion of 8.60% Series J Cumulative Convertible | | — | | — | | (114,980 | ) | Balance, end of year | | $ | 946,157 | | $ | 966,671 | | $ | 1,183,136 | | | | | | | | | | COMMON SHARES, $0.01 PAR VALUE | | | | | | | | | | | | | | | | Balance, beginning of year | | $ | 2,716 | | $ | 2,652 | | $ | 2,550 | | Issuance through conversion of OP Units into Common Shares | | 9 | | 18 | | 18 | | Issuance through exercise of options | | 15 | | 32 | | 16 | | Issuance through restricted share and performance-based grants, net | | 9 | | 7 | | 2 | | Issuance through Share Purchase – DRIP Plan and Dividend Reinvestment – DRIP Plan | | 1 | | 1 | | 2 | | Issuance through Employee Share Purchase Plan | | 3 | | 3 | | 2 | | Issuance through conversion of Preferred Shares into Common Shares | | 9 | | 3 | | 62 | | Common Shares repurchased and retired | | (51 | ) | — | | — | | Balance, end of year | | $ | 2,711 | | $ | 2,716 | | $ | 2,652 | | | | | | | | | | PAID IN CAPITAL | | | | | | | | | | | | | | | | Balance, beginning of year | | $ | 4,892,744 | | $ | 4,753,371 | | $ | 4,540,869 | | Issuance of Common Shares in connection with Mergers and acquisitions | | — | | — | | 940 | | Issuance of Common Shares through conversion of OP Units into Common Shares | | 14,759 | | 29,303 | | 30,029 | | Issuance of Common Shares through exercise of options | | 29,563 | | 65,379 | | 25,212 | | Issuance through restricted share and performance-based grants, net | | 12,127 | | 29,020 | | 11,773 | | Issuance of Common Shares through Share Purchase – DRIP Plan | | 861 | | 910 | | 595 | | Issuance of Common Shares through Dividend Reinvestment – DRIP Plan | | 1,172 | | 1,149 | | 1,664 | | Issuance of Common Shares through Employee Share Purchase Plan | | 7,374 | | 6,928 | | 5,413 | | Issuance of Common Shares through conversion of Preferred Shares into Common Shares | | 20,505 | | 5,962 | | 127,068 | | Common Shares repurchased and retired | | (114,953 | ) | — | | — | | Offering costs | | (207 | ) | (2,223 | ) | (3,944 | ) | Other | | (29,017 | ) | — | | 4,045 | | Adjustment for Minority Interests ownership in Operating Partnership | | 4,290 | | 2,945 | | 9,707 | | Balance, end of year | | $ | 4,839,218 | | $ | 4,892,744 | | $ | 4,753,371 | | | | | | | | | |
See accompanying notes F-9
EQUITY RESIDENTIAL PROPERTIES TRUST
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Continued)
(Amounts in thousands)
| | Year Ended December 31,
| |
---|
| | 2001
| | 2000
| | 1999
| |
---|
EMPLOYEE NOTES | | | | | | | | | | | Balance, beginning of year | | $ | (4,346 | ) | $ | (4,670 | ) | $ | (4,873 | ) | | Principal receipts, net | | | 303 | | | 324 | | | 203 | | | |
| |
| |
| | Balance, end of year | | $ | (4,043 | ) | $ | (4,346 | ) | $ | (4,670 | ) | | |
| |
| |
| | DEFERRED COMPENSATION | | | | | | | | | | | Balance, beginning of year | | $ | (14,915 | ) | $ | (18,225 | ) | $ | (7,827 | ) | | Shares granted, net of cancellations | | | (29,027 | ) | | (11,775 | ) | | (20,023 | ) | | Amortization of shares to compensation expense | | | 18,164 | | | 15,085 | | | 9,625 | | | |
| |
| |
| | Balance, end of year | | $ | (25,778 | ) | $ | (14,915 | ) | $ | (18,225 | ) | | |
| |
| |
| | DISTRIBUTIONS IN EXCESS OF ACCUMULATED EARNINGS | | | | | | | | | | | Balance, beginning of year | | $ | (300,351 | ) | $ | (325,856 | ) | $ | (245,538 | ) | | Net income | | | 473,585 | | | 549,451 | | | 393,881 | | | Common Share distributions | | | (452,435 | ) | | (412,005 | ) | | (361,003 | ) | | Preferred Share distributions | | | (87,504 | ) | | (100,855 | ) | | (112,011 | ) | | Preference Interest distributions | | | (18,263 | ) | | (10,650 | ) | | (836 | ) | | Junior Preference Unit distributions | | | (352 | ) | | (436 | ) | | (349 | ) | | |
| |
| |
| | Balance, end of year | | $ | (385,320 | ) | $ | (300,351 | ) | $ | (325,856 | ) | | |
| |
| |
| | ACCUMULATED OTHER COMPREHENSIVE LOSS | | | | | | | | | | | Balance, beginning of year | | $ | — | | $ | — | | $ | — | | | Accumulated other comprehensive loss — derivative instruments: | | | | | | | | | | | Cumulative effect of change in accounting principle | | | (5,334 | ) | | — | | | — | | | | Unrealized holding (losses) arising during the year | | | (17,909 | ) | | — | | | — | | | | Equity in unrealized holding (losses) arising during the year — unconsolidated entities | | | (10,366 | ) | | — | | | — | | | | Losses reclassified into earnings from other comprehensive income | | | 569 | | | — | | | — | | | |
| |
| |
| | Balance, end of year | | $ | (33,040 | ) | $ | — | | $ | — | | | |
| |
| |
| |
| | Year Ended December 31, | | | | 2002 | | 2001 | | 2000 | | | | | | | | | | EMPLOYEE NOTES | | | | | | | | | | | | | | | | Balance, beginning of year | | $ | (4,043 | ) | $ | (4,346 | ) | $ | (4,670 | ) | Principal receipts, net | | 4,043 | | 303 | | 324 | | Balance, end of year | | $ | — | | $ | (4,043 | ) | $ | (4,346 | ) | | | | | | | | | DEFERRED COMPENSATION | | | | | | | | | | | | | | | | Balance, beginning of year | | $ | (25,778 | ) | $ | (14,915 | ) | $ | (18,225 | ) | Shares granted, net of cancellations | | (12,136 | ) | (29,027 | ) | (11,775 | ) | Amortization of shares to compensation expense | | 25,796 | | 18,164 | | 15,085 | | Balance, end of year | | $ | (12,118 | ) | $ | (25,778 | ) | $ | (14,915 | ) | | | | | | | | | DISTRIBUTIONS IN EXCESS OF ACCUMULATED EARNINGS | | | | | | | | | | | | | | | | Balance, beginning of year | | $ | (385,320 | ) | $ | (300,351 | ) | $ | (325,856 | ) | Net income | | 421,313 | | 473,585 | | 549,451 | | Common Share distributions | | (473,898 | ) | (452,435 | ) | (412,005 | ) | Preferred Share distributions | | (76,615 | ) | (87,504 | ) | (100,855 | ) | Preference Interest distributions | | (20,211 | ) | (18,263 | ) | (10,650 | ) | Junior Preference Unit distributions | | (325 | ) | (352 | ) | (436 | ) | Balance, end of year | | $ | (535,056 | ) | $ | (385,320 | ) | $ | (300,351 | ) | | | | | | | | | ACCUMULATED OTHER COMPREHENSIVE LOSS | | | | | | | | | | | | | | | | Balance, beginning of year | | $ | (33,040 | ) | $ | — | | $ | — | | Accumulated other comprehensive loss – derivative instruments: | | | | | | | | Cumulative effect of change in accounting principle | | — | | (5,334 | ) | — | | Unrealized holding (losses) arising during the year | | (10,905 | ) | (17,909 | ) | — | | Equity in unrealized holding (losses) arising during the year – unconsolidated entities | | (689 | ) | (10,366 | ) | — | | Losses reclassified into earnings from other comprehensive income | | 845 | | 569 | | — | | Balance, end of year | | $ | (43,789 | ) | $ | (33,040 | ) | $ | — | |
See accompanying notes F-10
EQUITY RESIDENTIAL PROPERTIES TRUST
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
1.Business and Formation of the Company Equity Residential Properties Trust,(“EQR”), formed in March 1993, ("EQR"), is a self-administered and self-managed equityfully integrated real estate investment trust ("REIT"). As used herein,company engaged in the term "Company" meansacquisition, ownership, management and operation of multifamily properties. EQR and its subsidiaries, as the survivor of the mergers between EQR and each of Wellsford Residential Property Trust, Evans Withycombe Residential, Inc., Merry Land & Investment Company, Inc. and Lexford Residential Trust (collectively, the "Mergers"). The Company also includes the businesses formerly operated by Globe Business Resources, Inc. ("Globe") and Grove Property Trust ("Grove"). The Company completed the sale of its Globe furniture rental business on January 11, 2002. The Company has elected to be taxed as a REIT under Section 856(c) of the Internal Revenue Code 1986, as amended (the "Code"real estate investment trust (“REIT”). EQR is the general partner of, and as of December 31, 2001,2002 owned an approximate 92.1%92.4% ownership interest in, ERP Operating Limited Partnership, an Illinois limited partnership (the "Operating Partnership"“Operating Partnership”). The Company conducts substantially all of its business and owns substantially all of its assets through the Operating Partnership. The Operating Partnership is, in turn, directly or indirectly, a partner, member or shareholder of numerous partnerships, limited liability companies and corporations which have been established primarily to own fee simple title to multifamily properties or to conduct property management activities and other businesses related to the ownership and operation of multifamily residential real estate. References to the Company“Company” include EQR, the Operating Partnership and each of the partnerships, limited liability companies and corporations controlled by the Operating Partnership and/or EQR. The Company is engaged in the acquisition, ownership, management, operation and disposition of multifamily properties. As of December 31, 2001,2002, the Company owned or had interestsinvestments in a portfolio of 1,076 multifamily 1,039properties (individually a "Property" and collectively the "Properties") containing 224,801 apartment units located in 36 states consisting of the following:223,591 units. An ownership breakdown includes:
| | Number of Properties
| | Number of Units
|
---|
Wholly Owned Properties | | 955 | | 199,698 | Partially Owned Properties | | 36 | | 6,931 | Unconsolidated Properties | | 85 | | 18,172 | | |
| |
| Total Properties | | 1,076 | | 224,801 | | |
| |
|
| | Number of Properties | | Number of Units | | Wholly Owned Properties | | 919 | | 194,886 | | Partially Owned Properties (Consolidated) | | 36 | | 6,931 | | Unconsolidated Properties | | 84 | | 21,774 | | Total Properties | | 1,039 | | 223,591 | |
The Company accounts“Wholly Owned Properties” are accounted for its ownership interest in the 955 "Wholly Owned Properties" under the consolidation method of accounting. The Company beneficially owns 100% fee simple title to 948912 of the 955919 Wholly Owned Properties. The Company has a leasehold estate ownership interest in one Property. As such, the Company owns the real estate building and improvements and leases the land underlying the improvements under a long-term ground lease that expires in 2066.2066 for one property. This one Propertyproperty is consolidated and reflected as a real estate asset while the ground lease is accounted for as an operating lease in accordance with Statement of Financial Accounting Standards ("SFAS"(“SFAS”) No. 13,Accounting for Leases. The Company owns the debt collateralized by two Propertiesproperties and owns an interest in the debt collateralized by the remaining four Properties.properties. The Company consolidates its interest in these six Propertiesproperties in accordance with the accounting standards outlined in the AcSEC guidance for real estate acquisition, development and construction arrangements issued in the CPA letter dated February 10, 1986, and as such, reflects these assets as real estate in the consolidated financial statements. F-11
The "Partially“Partially Owned Properties"Properties” are controlled and partially owned by the Company but have partners with minority interests and are accounted for under the consolidation method of accounting. The "Unconsolidated Properties"“Unconsolidated Properties” are partially owned but not controlled by the Company andCompany. With the exception of one property, the Unconsolidated Properties consist of investments in partnership interests and/or subordinated mortgages that are accounted for under the equity method of accounting. The remaining one property consists of an investment in a limited liability company that, as a result of the terms of the operating agreement, is accounted for as a management contract right with all fees recognized as fee and asset management revenue. The above table does not include various uncompleted development properties. F-11
2. Summary of Significant Accounting Policies The Mergers and acquisitions were accounted for as purchases in accordance with Accounting Principles Board Opinion No. 16. The fair value of the consideration given by the Company in the Mergers was used as the valuation basis for each of the combinations. The accompanying consolidated statements of operations and cash flows include the results of the Properties purchased through the Mergers and through acquisitions from their respective closing dates.
Due to the Company'sCompany’s ability as general partner to control either through ownership or by contract the Operating Partnership and its subsidiaries, other than entities owningthat own controlling interests in the Unconsolidated Properties and certain other entities in which the Company has investments, the Operating Partnership and each such subsidiary has been consolidated with the Company for financial reporting purposes. In July 2001, the Company acquired 100% of a management company entity, which had a controlling ownership interest in a portfolio of 21 previously Unconsolidated Properties. Subsequent to this transaction, the Company consolidated these 21 Properties. properties. In September 2001, the Company acquired the remaining 5% of the preferred stock it did not own and 100% of the voting common stock in two other management company entities. As a result, the Company now wholly-owns these two entities. The Company consolidated the results of these two entities prior to this transaction despite not having legal control, the effects of which were immaterial. In June 2001, the Financial Accounting Standards Board (“FASB”) issued SFAS No. 141, Business Combinations. SFAS No. 141 requires all business combinations initiated after June 30, 2001 be accounted for under the purchase method of accounting. The Company’s mergers and acquisitions were accounted for as purchases in accordance with either Accounting Principles Board (“APB”) Opinion No. 16, Business Combinations, or SFAS No. 141. The fair value of the consideration given by the Company in the mergers were used as the valuation basis for each of the combinations. The accompanying consolidated statements of operations and cash flows include the results of the properties purchased through the mergers and through acquisitions from their respective closing dates. Real Estate Assets and Depreciation of Investment in Real Estate
Real estate is recorded at cost less accumulated depreciation less an adjustment, if any, for impairment. A land value is assigned based on the purchase price if land is acquired separately or based on market research if acquired in a merger or in a single or portfolio acquisition. Depreciation is computed on a straight-line basis over the estimated useful lives of the assets. The Company uses a 30-year estimated life for buildings and a five-year estimated life for initial furniture, fixtures and equipment. Replacements inside a unit such as appliances and carpeting, are depreciated over a five-year estimated life. Expenditures for ordinary maintenance and repairs are expensed to operations as incurred and significant renovations and improvements that improve and/or extend the useful life of the asset are capitalized over their estimated useful life, generally five to ten years. Initial direct leasing costs are expensed as incurred as such expense approximates the deferral and amortization of initial direct leasing costs over the lease terms. Property sales or dispositions are recorded when title transfers and sufficient consideration has been received by the Company. Upon disposition, the related costs and accumulated depreciation are removed from the respective accounts. Any gain or loss on sale of disposition is recognized in accordance with accounting principles generally accepted in the United States. The Company classifies real estate assets as real estate held for disposition when it is certain a property will be disposed.disposed of in accordance with SFAS No. 144 (see further discussion below). F-12
The Company classifies Propertiesproperties under development and/or expansion and properties in the lease up phase as construction in progress until construction has been completed and all certificates of occupancy permits have been obtained. The Company also classifies land relating to construction in progress as land on its balance sheet.sheets.
Impairment of Long-Lived Assets, Including Goodwill Asset Impairment
For real estate properties held for use,In June 2001, the Company follows the guidance inFASB issued SFAS No. 121,142, Goodwill and Other Intangible Assets. SFAS No. 142 prohibits the amortization of goodwill and requires that goodwill be reviewed for impairment at least annually. In August 2001, the FASB issued SFAS No. 144, Accounting for the Impairment or Disposal of Long-Lived Assets. SFAS Nos. 142 and 144 were effective for Long-Lived Assetsfiscal years beginning after December 15, 2001. The Company adopted these standards effective January 1, 2002. See Notes 16 and 22 for further discussion.
The Company periodically evaluates its long-lived assets, including its investments in real estate and goodwill, for impairment indicators. The judgments regarding the existence of impairment indicators are based on factors such as operational performance, market conditions, expected holding period of each asset and legal and environmental concerns. Future events could occur which would cause the Company to be Disposed Of, in determining whetherconclude that impairment indicators exist and an impairment loss exists. The Company first determines whether any indicators of impairment exist. If indicators exist,is warranted. For long-lived assets to be held and used, the Company compares the expected future undiscounted cash flows for an operating propertythe long-lived asset against the carrying amount of that property.asset. If the sum of the estimated undiscounted cash flows is less than the carrying amount of the property,asset, an impairment loss would be recorded for the difference between the estimated fair value and the carrying amount of the property.asset. For real estate propertieslong-lived assets to be disposed of, an impairment loss is recognized when the estimated fair value of the real estate,asset, less the estimated cost to sell, is less than the carrying amount of the real estateasset measured at the time it is certain that the Company has determined it will sell the property. Real estateasset. Long-lived assets held for disposition isand the related liabilities are separately reported at the lower of itstheir carrying amountamounts or itstheir estimated fair value,values, less its costtheir costs to sell.sell, and are not depreciated after reclassification to real estate held for disposition. For all other assets, including property Goodwill and equipment and goodwill,investments in unconsolidated entities accounted for under the equity method of accounting are specifically excluded from the scope of SFAS No. 144. Prior to January 1, 2002, the Company alsofollowed the guidance in SFAS No. 121, Accountingfor the Impairment of Long-Lived Assets and Long-Lived Assets to be Disposed of. Prior to 2002, the Company amortized goodwill on a straight-line basis over a period of 20 years. The accumulated amortization of goodwill was $5.5 million at December 31, 2001. Cost Capitalization See the Real Estate Assets and Depreciation of Investment in Real Estate section for discussion of the policy with respect to capitalization vs. expensing of fixed asset/repair and maintenance costs. In addition, the Company capitalizes the payroll and associated costs of employees directly responsible for and who spend all of their time on the supervision of major capital projects. These costs are reflected on the balance sheet as an increase to building. The Company follows the guidance in SFAS No. 12167, Accounting for Costs and Initial Rental Operations of Real Estate Projects, for all development projects and uses its professional judgment in determining whether an impairment loss exists.such costs meet the criteria for capitalization or must be expensed as incurred. The Company reviews the current net book value taking into consideration existing businesscapitalizes interest, real estate taxes and economic conditions as well as projected operating cash flows. See Note 20insurance and payroll and associated costs for further discussion. In August 2001, the Financial Accounting Standards Board ("FASB") issued SFAS No. 144,Accountingthose individuals directly responsible for the Impairment or Disposaland who spend all of Long-Lived Assets, which is effective for fiscal years beginning after December 15, 2001.their time on development activities. The Company adoptedexpenses as incurred all payroll costs of employees working directly at our properties, except for costs that are incurred during the standard effective January 1, 2002, which did notinitial lease-up phase on a development project. An allocated portion of payroll costs is capitalized based upon the occupancy of the project until stabilized occupancy is achieved. Stabilized occupancy is always deemed to have any impactoccurred no later than one year from cessation of major development activities. The incremental payroll and associated costs are capitalized to the projects under development based upon the effort directly identifiable with such projects. These costs are reflected on the Company's financial conditionbalance sheet as either construction in progress or a separate component of investments in unconsolidated entities. The Company ceases the capitalization of such costs as the property becomes substantially complete and results of operations.ready for its intended use.
Cash and Cash Equivalents The Company considers all demand deposits, money market accounts and investments in certificates of deposit and repurchase agreements purchased with a maturity of three months or less, at the date of purchase, to be cash equivalents. The Company maintains its cash and cash equivalents at financial institutions. The combined account balances at each institutionone or more institutions periodically exceed the Federal Depository Insurance Corporation ("FDIC"(“FDIC”) insurance coverage, and, as a result, there is a concentration of credit risk related to amounts on deposit in excess of FDIC insurance coverage. The Company believes that the risk is not significant, as the Company does not anticipate theirthe financial institutions’ non-performance. Deferred financing costs include fees and costs incurred to obtain the Company's linesCompany’s line of credit, long-term financings and costs for certain interest rate protection agreements. These costs are amortized over the terms of the related debt. Unamortized financing costs are written-off when debt is F-13
retired before the maturity date. The accumulated amortization of such deferred financing costs was $22.9$15.2 million and $17.7 $22.9million at December 31, 2002 and 2001, and 2000, respectively. Rental furniture is stated at cost and depreciated on a straight-line basis at a rate Fair Value of 1% per month, which is designed to approximate an estimated useful life of four years with provision for a 50% residual value. The accumulated depreciation of rental furniture was $419,000 and $725,000 at December 31, 2001 and 2000, respectively.Financial Instruments, Including Derivative Instruments Property and equipment is stated at cost. Depreciation expense is provided on a straight-line basis over estimated useful lives of three to ten years. The accumulated depreciation of property and equipment was $2.6 million and $1.1 million at December 31, 2001 and 2000, respectively. Goodwill is amortized on a straight-line basis over a period of 20 years. The Company periodically reviews goodwill for impairment and if a permanent decline in value has occurred, the Company would reduce its goodwill balance to fair value. The accumulated amortization of goodwill was $5.5 million and $1.8 million at December 31, 2001 and 2000, respectively.
In June 2001, the FASB issuedThe valuation of financial instruments under SFAS No. 142,107, Disclosures about Fair Value of Financial InstrumentsGoodwill, and Other Intangible Assets. SFAS No. 142 requires companies to eliminate the amortization of goodwill in favor of a periodic impairment based approach. SFAS No. 142 is effective133 and its amendments (SFAS Nos. 137 and 138), Accounting for fiscal years beginning after December 15, 2001. The Company adopted the standard effective January 1, 2002, which did not have a material impact on the Company's financial condition and results of operations.
Derivative Instruments and Hedging Activities, requires the Company to make estimates and judgments that affect the fair value of the instruments. The Company, where possible, bases the fair values of its financial instruments, including its derivative instruments, on listed market prices and third party quotes. Where these are not available, the Company bases its estimates on other factors relevant to the financial instruments.
In the normal course of business, the Company is exposed to the effect of interest rate changes. The Company limits these risks by following established risk management policies and procedures including the use of derivatives to hedge interest rate risk on debt instruments. The Company has a policy of only entering into contracts with major financial institutions based upon their credit ratings and other factors. When viewed in conjunction with the underlying and offsetting exposure that the derivatives are designed to hedge, the Company has not sustained a material loss from those instruments nor does it anticipate any material adverse effect on its net income or financial position in the future from the use of derivatives. On January 1, 2001, the Company adopted SFAS No. 133 and its amendments (SFAS Nos. 137 and 138),Accounting for Derivative Instruments and Hedging Activities, which requires an entity to recognize all derivatives as either assets or liabilities in the statement of financial position and to measure those instruments at fair value. Additionally, the fair value adjustments will affect either shareholders'shareholders’ equity or net income depending on whether the derivative instruments qualify as a hedge for accounting purposes and, if so, the nature of the hedging activity. When the terms of an underlying transaction are modified, or when the underlying transaction F-14
is terminated or completed, all changes in the fair value of the instrument are marked-to-market with changes in value included in net income each period until F-14
the instrument matures. Any derivative instrument used for risk management that does not meet the hedging criteria of SFAS No. 133 is marked-to-market each period. The Company does not use derivatives for trading or speculative purposes. As of January 1, 2001, the adoption of the new standard resulted in derivative instruments reported on the balance sheet as liabilities of approximately $6.6 million; an adjustment of approximately $5.3 million to accumulated other comprehensive loss, which are gains and losses not affecting retained earnings in the consolidated statementstatements of shareholders'shareholders’ equity; and a charge of approximately $1.3 million as a cumulative effect of change in accounting principle in the consolidated statementstatements of operations. At December 31, 2001, the Company had entered into swaps which have been designated as cash flow hedges with an aggregate notional amount of $626.4 million at interest rates ranging from 3.65125% to 6.15% maturing at various dates ranging from 2003 to 2007 with a net liability fair value of $23.3 million; and swaps which have been designated as fair value hedges with an aggregate notional amount of $396.4 million at interest rates ranging from 4.458% to 7.25% maturing at various dates ranging from 2003 to 2011 with a net asset fair value of $4.6 million. At December 31, 2001, the Company's joint venture development partners had entered into swaps to hedge the interest rate risk exposure on unconsolidated floating rate construction mortgage loans. The Company has recorded its proportionate share of these qualifying hedges on its consolidated balance sheet. These swaps have been designated as cash flow hedges with a current aggregate notional amount of $302.5 million (notional amounts range from $139.7 million to $525.1 million over the terms of the swaps) at interest rates ranging from 4.13% to 7.35% maturing at various dates ranging from 2002 to 2005 with a net liability fair value of $10.4 million.
As of December 31, 2001, there were approximately $32.6 million in deferred losses, net, included in accumulated other comprehensive loss. On December 31, 2001, the net derivative instruments were reported at their fair value as other liabilities of approximately $18.7 million and as a reduction to investment in unconsolidated entities of approximately $10.4 million. The Company expects to recognize an estimated $14.3 million of accumulated other comprehensive loss as additional interest expense during the twelve months ending December 31, 2002, of which $6.5 million is related to the development joint venture swaps.
The fair values of the Company'sCompany’s financial instruments, (excluding the Company's investment in mortgage notes—see Note 8),other than derivative instruments, including cash and cash equivalents, mortgage notes payable, other notes payable, linesline of credit and other financial instruments, approximate their carrying or contract values. Rental income attributable to leases is recorded when due from residents and is recognized monthly as it is earned, which is not materially different than on a straight-line basis. Interest income is recorded on an accrual basis. Leases entered into between a resident and a Propertyproperty, for the rental of an apartment unit, are generally year-to-year, renewable upon consent of both parties on a year-to-yearan annual or month-to-monthmonthly basis. Leases of furniture generally have an initial term of three to six months in duration and can be extended by the customer on a month-to-month basis. Furniture rentals are accounted for as operating leases, and revenue is recorded in the month earned. For sales of furniture, as well as rental buyouts, F-15
revenue and related cost of sales are recorded when the furniture is delivered or taken off lease. Revenues from both furniture rentals and sales are included in furniture income while the associated costs of those rentals and sales are included in furniture operating expenses in the consolidated statements of operations.
The Company adopted the provisions of Staff Accounting Bulletin ("SAB"(“SAB”) No. 101,Revenue Recognition, effective October 1, 2000. SAB No. 101 provides guidance on the recognition, presentation and disclosure of revenue in financial statements. The adoption of SAB No. 101 did not have a material impact on the Company'sCompany’s financial condition and results of operations. Stock Option Compensation The Company has chosen to account for its stock option compensation in accordance with APB No. 25, Accounting for Stock Issued to Employees,which results in no compensation expense for options issued with an exercise price equal to or exceeding the market value of the Company’s Common Shares on the date of grant. The Company will elect to expense its stock option compensation in accordance with SFAS No. 123 and its amendment (SFAS No. 148), Accounting for Stock Based Compensation, effective in the first quarter of 2003, which will result in compensation expense being recorded based on the fair value of the stock option compensation issued. Income Taxes
Due to the structure of the Company as a REIT and the nature of the operations of the Propertiesproperties and management business, the results of operations generally contain no provision for federal income taxes. The Company is subject to certain state and local income, excise and franchise taxes. The aggregate cost of land and depreciable property for federal income tax purposes as of December 31, 20012002 and 20002001 was approximately $8.6$8.7 billion and $9.0$8.6 billion, respectively. Effective in 2001, the Company has elected Taxable REIT Subsidiary ("TRS"(“TRS”) status for certain of its corporate subsidiaries. The provisions for federal income taxes for these TRS entities were not material during 2002 and 2001 and were recognized as general and administrative expenses in the consolidated statements of operations. During the years ended December 31, 2002, 2001 and 2000, and 1999, the Company'sCompany’s tax treatment of F-15
distributions were as follows:
| | Year Ended December 31,
|
---|
| | 2001
| | 2000
| | 1999
|
---|
Tax treatment of distributions: | | | | | | | | | | | Ordinary income | | $ | 1.369 | | $ | 1.528 | | $ | 1.280 | | Return of capital | | | — | | | — | | | 0.130 | | Long-term capital gain | | | 0.220 | | | 0.016 | | | 0.044 | | Unrecaptured section 1250 gain | | | 0.091 | | | 0.031 | | | 0.016 | Distributions declared per Common Share outstanding | | $ | 1.680 | | $ | 1.575 | | $ | 1.470 |
| | Year Ended December 31, | | | | 2002 | | 2001 | | 2000 | | Tax treatment of distributions: | | | | | | | | Ordinary income | | $ | 1.398 | | $ | 1.369 | | $ | 1.528 | | Long-term capital gain | | 0.212 | | 0.220 | | 0.016 | | Unrecaptured section 1250 gain | | 0.120 | | 0.091 | | 0.031 | | Distributions declared per Common Share outstanding | | $ | 1.730 | | $ | 1.680 | | $ | 1.575 | |
Minority Interests
Operating Partnership: Net income is allocated to minority interests based on their respective ownership percentage of the Operating Partnership. The ownership percentage is calculated by dividing the number of Operating Partnership Units ("units of limited partnership interest (“OP Units"Units”) held by the minority interests by the total OP Units held by the minority interests and the Company.EQR. Issuance of additional common shares of beneficial interest, $0.01 par value per share (the "Common Shares"“Common Shares”), and OP Units changes the ownership interests of both the minority interests and the Company.EQR. Such transactions and the proceeds therefrom are treated as capital transactions. Partially Owned Properties: The Company reflects minority interests in partially owned properties on the balance sheet for the portion of properties consolidated by the Company that are not wholly owned by the Company. The earnings or losses from those properties attributable to the minority F-16
interests are reflected as minority interests in partially owned properties in the consolidated statements of operations. In preparation of the Company'sCompany’s financial statements in conformity with accounting principles generally accepted in the United States, management makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements as well as the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. Reclassifications Certain reclassifications considered necessary for a fair presentation have been made to the previously reportedprior period financial statements in order to provide comparability withconform to the 2001 statements reported herein.current year presentation. These reclassifications have not changed the results of operations or shareholders'shareholders’ equity. The Company has one primary reportable business segment, which consists of investment in rental real estate. The Company's primary business is owning, managing and operating multifamily residential properties, which includes the generation of rental and other related income through the leasing of apartment units to residents. Other The primary financial measure for the Company's rental real estate segment is net operating income ("NOI"), which represents rental income less: 1) property and maintenance expense; 2) real estate taxes and insurance expense; and 3) property management expense (all as reflected in the accompanying statements of operations). Current year NOI is compared to prior year NOI and current year budgeted NOI as a measure of financial performance. During the acquisition, development and/or disposition of real estate, the NOI return on total capitalized costs is the primary measure of financial performance (capitalization rate) the Company considers.
The Company's fee and asset management activity and furniture rental/sales activities are immaterial and do not meet the threshold requirements of a reportable segment as provided for in SFAS No. 131.
All revenues are from external customers and there is no customer who contributed 10% or more of the Company's total revenues during 2001, 2000 or 1999.
In June 2001,April 2002, the FASB issued SFAS No. 141,145, Rescission of FASB Statements No. 4, 44 and 64, Amendment of FASB Statement No. 13, and Technical CorrectionsBusiness Combinations.. SFAS No. 141 requires companies to account for all business combinations using145, among other items, rescinds the purchase methodautomatic classification of accounting.costs incurred on debt extinguishment as extraordinary charges. Instead, gains and losses from debt extinguishment should only be classified as extraordinary if they meet the “unusual and infrequently occurring” criteria outlined in APB No. 30. SFAS No. 141145 is effective for fiscal years beginning after DecemberMay 15, 2001.2002. The Company adoptedwill adopt the standard effective January 1, 2002, which did2003. In January 2003, the FASB issued Interpretation ("FIN") No. 46, Consolidation of Variable Interest Entities. FIN No. 46 requires a variable interest entity to be consolidated by a company if that company is subject to a majority of the risk of loss from the variable interest entity's activities or entitled to receive a majority of the entity's residual returns or both. The consolidation requirements of FIN No. 46 apply immediately to variable interest entities created after January 31, 2003 and apply to older entities in the first fiscal year or interim period beginning after June 15, 2003. The Company will adopt FIN No. 46 in the third quarter of 2003 but has not yet determined the effect that adoption will have any impact on the Company'sits consolidated financial conditionposition and results of operations. F-17
3. Business Combinations On October 1, 1999, the Company acquired Lexford Residential Trust ("LFT")(the "LFT Merger"), which included 402 Properties containing 36,609 units and other related assets for a total purchase price of approximately $738 million. In connection with the LFT Merger, each outstanding common share of beneficial interest of LFT was converted into 0.926 of a Common Share of the Company. The purchase price consisted of 8.0 million Common Shares issued by the Company with a market value of $181.1 million, the assumption of mortgage indebtedness, a term loan and a line of credit in the amount of $528.3 million, the acquisition of other assets of approximately $40.9 million, the assumption of other liabilities of approximately $25.3 million and other merger related costs of approximately $24.5 million. On July 11, 2000, the Company acquired Globe Business Resources, Inc. (“Globe”) in an all F-16
cash and debt transaction valued at $163.2 million. Globe provided fully furnished short-term housing through an inventory of leased housing units to transferring or temporarily assigned corporate personnel, new hires, trainees, consultants and individual customers throughout the United States. Additionally, Globe rentsleased and sellssold furniture to a diversified base of commercial and residential customers throughout the United States. Shareholders of Globe received $13.00 per share, which approximated $58.7 million in cash based on the 4.5 million Globe shares outstanding. In addition, the Company: •Acquired $94.8 million in other Globe assets and assumed $29.6 million in other Globe liabilities;
•Allocated $68.4 million to goodwill;
•Recorded acquisition costs of $4.5 million; and
•Assumed $70.4 million in debt, which included $1.4 million in mortgage debt, $39.5 million in unsecured notes, and Globe's line of credit of $29.5 million outstanding.
• | | Acquired $94.8 million in other Globe assets and assumed $29.6 million in other Globe liabilities; | • | | Allocated $68.4 million to goodwill; | • | | Recorded acquisition costs of $4.5 million; and | • | | Assumed $70.4 million in debt, which included $1.4 million in mortgage debt, $39.5 million in unsecured notes, and Globe’s line of credit of $29.5 million outstanding. |
On July 21, 2000, the Company, through its Globe subsidiary, acquired Temporary Quarters, Inc., the leading corporate housing provider in Atlanta, Georgia, in a $3.3 million all cash transaction. During 2001 and prior to the one-year anniversary of the Globe acquisition, the Company recorded net increases to goodwill of $9.5 million to reallocate the original purchase price recorded at the acquisition date. Also during 2001, the Company recorded a $60.0 million asset impairment charge related to its furniture rental business. During 2002, the Company recorded a $17.1 million asset impairment charge related to Equity Corporate Housing (“ECH”). See Note 20.Notes 16 and 22. On January 11, 2002, the Company sold the former Globe furniture rental business for approximately $30.0 million in cash, which approximated the net book value at the sale date. The Company has retained ownership of the former Globe short-term furnished housing business, which is now known as Equity Corporate Housing.ECH. On October 31, 2000, the Company acquired Grove which included 60 properties containing 7,308 unitsProperty Trust (“Grove”) for a total purchase price of $463.2 million.million and succeeded to the ownership of 60 properties containing 7,308 units. The Company: • - Paid $17.00 per share or $141.6 million in cash to purchase the 8.3 million outstanding common shares of Grove;
• - Paid $17.00 per unit or $12.4 million in cash to purchase 0.7 million
in Grove OP Units outstanding at the merger date;
• - Converted 2.1 million Grove OP Units to 1.6 million of the Operating
Partnership'sPartnership’s OP Units using the conversion ratio of 0.7392 (after cash-out of fractional units). The value of these converted OP Units totaled $37.2 million;
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- •
- Assumed $241.3 million in Grove debt, which included first and second mortgages totaling $203.4 million and
Grove'sGrove’s line of credit totaling $38.0 million;
- million. Grove’s line of credit and two mortgage loans totaling $7.8 million were paid off immediately after the closing;
• - Acquired $20.1 million in other Grove assets and assumed $11.2 million in other Grove liabilities, including a contingent earnout liability totaling $1.5 million. This amount
representsrepresented the estimated additional cash or OP Units required to be funded to the previous owners of Glen Meadow Apartments upon the transition of this property from subsidized to market rents; and
• - Recorded acquisition costs of $19.5 million.
All of the amounts stated above related to these business combinations were based on management's best estimates, which were subject to adjustment within one year of the respective closing dates. 4. Shareholders'Shareholders’ Equity and Minority Interests On October 11, 2001, the Company effected a two-for-one split of its Common Shares and OP Units to shareholders and unit holders of record as of September 21, 2001. All Common Shares and OP Units presented have been retroactively adjusted to reflect the Common Share and OP Unit split. F-17
The following table presents the changes in the Company'sCompany’s issued and outstanding Common Shares for the years ended December 31, 2002, 2001 2000 and 1999:2000:
| | 2001
| | 2000
| | 1999
| |
---|
Common Shares outstanding at January 1, | | 265,232,750 | | 254,901,596 | | 236,460,018 | | Common Shares Issued: | | | | | | | | Conversion of LFT common shares | | — | | — | | 8,037,434 | | Conversion of Series E Preferred Shares | | 260,078 | | 438,810 | | 3,338 | | Conversion of Series G Preferred Shares | | — | | 2,560 | | — | | Conversion of Series H Preferred Shares | | 6,972 | | 128,280 | | 13,160 | | Conversion of all Series I Preferred Shares | | — | | — | | 5,133,594 | | Conversion of all Series J Preferred Shares | | — | | 5,644,024 | | 244 | | Employee Share Purchase Plan | | 310,261 | | 299,580 | | 295,770 | | Dividend Reinvestment—DRIP Plan | | 42,649 | | 69,504 | | 72,264 | | Share Purchase—DRIP Plan | | 33,106 | | 26,374 | | 45,068 | | Exercise of options | | 3,187,217 | | 1,370,186 | | 2,026,384 | | Restricted share grants, net | | 730,982 | | 475,862 | | 613,000 | | Conversion of OP Units | | 1,817,359 | | 1,875,974 | | 2,435,642 | | Profit-sharing/401(k) Plan contribution | | — | | — | | 60,520 | | Common Shares Other: | | | | | | | | Common Shares repurchased and retired | | — | | — | | (296,906 | ) | Common Shares other | | — | | — | | 2,066 | | | |
| |
| |
| | Common Shares outstanding at December 31, | | 271,621,374 | | 265,232,750 | | 254,901,596 | | | |
| |
| |
| |
| | 2002 | | 2001 | | 2000 | | | | | | | | | | Common Shares outstanding at January 1, | | 271,621,374 | | 265,232,750 | | 254,901,596 | | | | | | | | | | Common Shares Issued: | | | | | | | | Conversion of Series E Preferred Shares | | 909,873 | | 260,078 | | 438,810 | | Conversion of Series G Preferred Shares | | 70 | | — | | 2,560 | | Conversion of Series H Preferred Shares | | 4,050 | | 6,972 | | 128,280 | | Conversion of all Series J Preferred Shares | | — | | — | | 5,644,024 | | Employee Share Purchase Plan | | 324,238 | | 310,261 | | 299,580 | | Dividend Reinvestment – DRIP Plan | | 41,407 | | 42,649 | | 69,504 | | Share Purchase – DRIP Plan | | 31,354 | | 33,106 | | 26,374 | | Exercise of options | | 1,435,115 | | 3,187,530 | | 1,370,186 | | Restricted share grants, net | | 885,967 | | 730,982 | | 475,862 | | Conversion of OP Units | | 933,937 | | 1,817,359 | | 1,875,974 | | | | | | | | | | Common Shares Other: | | | | | | | | Common Shares repurchased and retired | | (5,092,300 | ) | — | | — | | Common Shares other | | 396 | | (313 | ) | — | | Common Shares outstanding at December 31, | | 271,095,481 | | 271,621,374 | | 265,232,750 | |
On December 12, 2001, the Company'sCompany’s shareholders approved an amendment to the Company'sCompany’s Declaration of Trust to increase the total number of authorized Common Shares from 350.0 million to 1.0 billion. On February 3, 1998, the Company filed with the SEC a Form S-3 Registration Statement to register $1$1.0 billion of equity securities. The SEC declared this registration statement effective on F-19
February 27, 1998. In addition, the Company carried over $272$272.4 million related to the registration statement effective on August 4, 1997. As of December 31, 2001,2002, $1.1 billion remained available for issuance under this registration statement. During October 2002, the Company repurchased 5,092,300 of its Common Shares on the open market at an average price of $22.58 per share. The Company paid approximately $115.0 million for these shares, which were retired subsequent to the repurchase. The equity positions of various individuals and entities that contributed their properties to the Operating Partnership in exchange for a partnership interest are collectively referred to as the "Minority Interests—“Minority Interests – Operating Partnership"Partnership”. As of December 31, 20012002 and 2000,2001, the Minority Interests—Interests – Operating Partnership held 23,197,19222,300,643 and 24,857,50223,197,192 OP Units, respectively. As a result, the Minority Interests had a 7.87%7.6% and 8.57%7.9% interest in the Operating Partnership at December 31, 20012002 and 2000,2001, respectively. Assuming conversion of all OP Units into Common Shares, total Common Shares outstanding at December 31, 20012002 and 20002001 would have been 293,396,124 and 294,818,566, and 290,090,252, respectively. Subject to applicable securities law restrictions, the Minority Interests – Operating Partnership may exchange their OP Units for EQR Common Shares on a one-for-one basis. Net proceeds from the Company'sCompany’s Common Share and Preferred Share (see definition below) offerings are contributed by the Company to the Operating Partnership inPartnership. In return for an increased ownership percentage and are treated as capital transactionsthose contributions, EQR receives a number of OP Units in the Company's consolidated financial statements.Operating Partnership equal to the number of Common Shares it has issued in the equity offering (or in the case of a preferred equity offering, a number of preference units in the Operating Partnership equal in number and having the same terms as the Preferred Shares issued in the equity offering). As a result, the net offering proceeds from Common Shares are allocated between shareholders'shareholders’ equity and Minority Interests—Interests – Operating Partnership to account for the change in their respective percentage ownership of the underlying equity of the Operating Partnership. F-18
The Company’s declaration of trust ofauthorizes the Company provides that the Company mayto issue up to 100,000,000 preferred shares of beneficial interest, $0.01 par value per share (the "Preferred Shares"“Preferred Shares”), with specific rights, preferences and other attributes as the Board of Trustees may determine, which may include preferences, powers and rights that are senior to the rights of holders of the Company'sCompany’s Common Shares. F-20
The following table presents the Company'sCompany’s issued and outstanding Preferred Shares as of December 31, 20012002 and 2000:2001:
| |
| |
| |
| | Amounts in thousands
|
---|
| |
| |
| | Annual Dividend Rate per Share (3)
|
---|
| | Redemption Date (1)(2)
| | Conversion Rate (2)
| | December 31, 2001
| | December 31, 2000
|
---|
Preferred Shares of beneficial interest, $.01 par value; 100,000,000 shares authorized: | | | | | | | | | | | | | | 93/8% Series A Cumulative Redeemable Preferred; liquidation value $25 per share; 0 and 6,120,000 shares issued and outstanding at December 31, 2001 and December 31, 2000, respectively | | 6/1/00 | | N/A | | | (4 | ) | $ | — | | $ | 153,000 | 91/8% Series B Cumulative Redeemable Preferred; liquidation value $250 per share; 500,000 shares issued and outstanding at December 31, 2001 and December 31, 2000 | | 10/15/05 | | N/A | | $ | 22.81252 | | | 125,000 | | | 125,000 | 91/8% Series C Cumulative Redeemable Preferred; liquidation value $250 per share; 460,000 shares issued and outstanding at December 31, 2001 and December 31, 2000 | | 9/9/06 | | N/A | | $ | 22.81252 | | | 115,000 | | | 115,000 | 8.60% Series D Cumulative Redeemable Preferred; liquidation value $250 per share; 700,000 shares issued and outstanding at December 31, 2001 and December 31, 2000 | | 7/15/07 | | N/A | | $ | 21.50000 | | | 175,000 | | | 175,000 | Series E Cumulative Convertible Preferred; liquidation value $25 per share; 3,365,794 and 3,599,615 shares issued and outstanding at December 31, 2001 and December 31, 2000, respectively | | 11/1/98 | | 1.1128 | | $ | 1.75000 | | | 84,145 | | | 89,990 | | | | | | | | | | | | | | |
F-21
| | Redemption Date(1)(2) | | Conversion Rate(2) | | Annual Dividend Rate per Share(3) | | Amounts in thousands | | December 31, 2002 | | December 31, 2001 | Preferred Shares of beneficial interest, $0.01 par value; 100,000,000 shares authorized: | | | | | | | | | | | | | | | | | | | | | | | | 9 1/8% Series B Cumulative Redeemable Preferred; liquidation value $250 per share; 500,000 shares issued and outstanding at December 31, 2002 and December 31, 2001 | | 10/15/05 | | N/A | | $ | 22.81252 | | $ | 125,000 | | $ | 125,000 | | | | | | | | | | | | | | 9 1/8% Series C Cumulative Redeemable Preferred; liquidation value $250 per share; 460,000 shares issued and outstanding at December 31, 2002 and December 31, 2001 | | 9/9/06 | | N/A | | $ | 22.81252 | | 115,000 | | 115,000 | | | | | | | | | | | | | | 8.60% Series D Cumulative Redeemable Preferred; liquidation value $250 per share; 700,000 shares issued and outstanding at December 31, 2002 and December 31, 2001 | | 7/15/07 | | N/A | | $ | 21.50000 | | 175,000 | | 175,000 | | | | | | | | | | | | | | 7.00% Series E Cumulative Convertible Preferred; liquidation value $25 per share; 2,548,114 and 3,365,794 shares issued and outstanding at December 31, 2002 and December 31, 2001, respectively | | 11/1/98 | | 1.1128 | | $ | 1.75000 | | 63,703 | | 84,145 | | | | | | | | | | | | | | 7 ¼% Series G Convertible Cumulative Preferred; liquidation value $250 per share; 1,264,692 and 1,264,700 shares issued and outstanding at December 31, 2002 and December 31, 2001, respectively | | 9/15/02 | | 8.5360 | | $ | 18.12500 | | 316,173 | | 316,175 | | | | | | | | | | | | | | 7.00% Series H Cumulative Convertible Preferred; liquidation value $25 per share; 51,228 and 54,027 shares issued and outstanding at December 31, 2002 and December 31, 2001, respectively | | 6/30/98 | | 1.4480 | | $ | 1.75000 | | 1,281 | | 1,351 | | | | | | | | | | | | | | 8.29% Series K Cumulative Redeemable Preferred; liquidation value $50 per share; 1,000,000 shares issued and outstanding at December 31, 2002 and December 31, 2001 | | 12/10/26 | | N/A | | $ | 4.14500 | | 50,000 | | 50,000 | | | | | | | | | | | | | | 7.625% Series L Cumulative Redeemable Preferred; liquidation value $25 per share; 4,000,000 shares issued and outstanding at December 31, 2002 and December 31, 2001 | | 2/13/03 | | N/A | | $ | 1.90625 | | 100,000 | | 100,000 | | | | | | | | | | $ | 946,157 | | $ | 966,671 | |
9.65% Series F Cumulative Redeemable Preferred; liquidation value $25 per share; 0 and 2,300,000 shares issued and outstanding at December 31, 2001 and December 31, 2000, respectively | | 8/24/00 | | N/A | | | (4 | ) | | — | | | 57,500 | 71/4% Series G Convertible Cumulative Preferred; liquidation value $250 per share; 1,264,700 shares issued and outstanding at December 31, 2001 and December 31, 2000 | | 9/15/02 | | 8.5360 | | $ | 18.12500 | | | 316,175 | | | 316,175 | 7.00% Series H Cumulative Convertible Preferred; liquidation value $25 per share; 54,027 and 58,851 shares issued and outstanding at December 31, 2001 and December 31, 2000, respectively | | 6/30/98 | | 1.4480 | | $ | 1.75000 | | | 1,351 | | | 1,471 | 8.29% Series K Cumulative Redeemable Preferred; liquidation value $50 per share; 1,000,000 shares issued and outstanding at December 31, 2001 and December 31, 2000 | | 12/10/26 | | N/A | | $ | 4.14500 | | | 50,000 | | | 50,000 | 7.625% Series L Cumulative Redeemable Preferred; liquidation value $25 per share; 4,000,000 shares issued and outstanding at December 31, 2001 and December 31, 2000 | | 2/13/03 | | N/A | | $ | 1.90625 | | | 100,000 | | | 100,000 | | | | | | | | | |
| |
| | | | | | | | | | $ | 966,671 | | $ | 1,183,136 | | | | | | | | | |
| |
|
(1)On or after the redemption date, redeemable preferred shares (Series B, C, D, K and L) may be redeemed for cash at the option of the Company, in whole or in part, at a redemption price equal to the liquidation price per share, plus accrued and unpaid distributions, if any.
(2) On or after the redemption date, convertible preferred shares (Series E, G & H) may be redeemed under certain circumstances for cash or Common Shares at the option of the Company, in whole or in part, at various redemption prices per share based upon the contractual conversion rate, plus accrued and unpaid distributions, if any. The conversion rate listed for Series G is the Preferred Share rate and the equivalent Depositary Share rate is 0.8536.F-19
(3)Dividends on all series of Preferred Shares are payable quarterly at various pay dates. Dividend rates listed for Series B, C, D and G are Preferred Share rates and the equivalent Depositary Share annual dividend rates are $2.281252, $2.281252, $2.15 and $1.8125, respectively.
(4)On June 25, 2001, the Company redeemed all of its outstanding Series A and F Cumulative Redeemable Preferred Shares at their liquidation values for total cash consideration of $210.5 million.F-22
The liquidation value of the Preference Interests and the Junior Preference Units (both as defined below) are included as separate components of Minority Interests in the consolidated balance sheets and the distributions incurred are included in preferred distributions in the consolidated statements of operations. During 2001, 2000 and 1999, Cumulative through December 31, 2002, the Company, through a subsidiary of the Operating Partnership, issued various series of Preference Interest seriesInterests with an equity value of $246.0 million receiving net proceeds of $239.9 million. The following table presents the issued and outstanding Preference Interests as of December 31, 20012002 and December 31, 2000:2001:
| |
| |
| |
| | Amounts in Thousands
|
---|
| |
| |
| | Annual Dividend Rate per Unit(3)
|
---|
| | Redemption Date(1)(2)
| | Conversion Rate(2)
| | December 31, 2001
| | December 31, 2000
|
---|
Preference Interests: | | | | | | | | | | | | | | 8.00% Series A Cumulative Redeemable Preference Interests; liquidation value $50 per unit; 800,000 units issued and outstanding at December 31, 2001 and December 31, 2000 | | 10/01/04 | | N/A | | $ | 4.0000 | | $ | 40,000 | | $ | 40,000 | 8.50% Series B Cumulative Redeemable Preference Units; liquidation value $50 per unit; 1,100,000 units issued and outstanding at December 31, 2001 and December 31, 2000 | | 03/03/05 | | N/A | | $ | 4.2500 | | | 55,000 | | | 55,000 | 8.50% Series C Cumulative Redeemable Preference Units; liquidation value $50 per unit; 220,000 units issued and outstanding at December 31, 2001 and December 31, 2000 | | 03/23/05 | | N/A | | $ | 4.2500 | | | 11,000 | | | 11,000 | 8.375% Series D Cumulative Redeemable Preference Units; liquidation value $50 per unit; 420,000 units issued and outstanding at December 31, 2001 and December 31, 2000 | | 05/01/05 | | N/A | | $ | 4.1875 | | | 21,000 | | | 21,000 | 8.50% Series E Cumulative Redeemable Preference Units; liquidation value $50 per unit; 1,000,000 units issued and outstanding at December 31, 2001 and December 31, 2000 | | 08/11/05 | | N/A | | $ | 4.2500 | | | 50,000 | | | 50,000 | 8.375% Series F Cumulative Redeemable Preference Units; liquidation value $50 per unit; 180,000 units issued and outstanding at December 31, 2001 and December 31, 2000 | | 05/01/05 | | N/A | | $ | 4.1875 | | | 9,000 | | | 9,000 | | | | | | | | | | | | | | |
F-23
| | Redemption Date(1)(2) | | Conversion Rate(2) | | Annual Dividend Rate per Unit(3) | | Amounts in thousands | | December 31, 2002 | | December 31, 2001 | | Preference Interests: | | | | | | | | | | | | | | | | | | | | | | | | 8.00% Series A Cumulative Redeemable Preference Interests; liquidation value $50 per unit; 800,000 units issued and outstanding at December 31, 2002 and December 31, 2001 | | 10/01/04 | | N/A | | $ | 4.0000 | | $ | 40,000 | | $ | 40,000 | | | | | | | | | | | | | | 8.50% Series B Cumulative Redeemable Preference Units; liquidation value $50 per unit; 1,100,000 units issued and outstanding at December 31, 2002 and December 31, 2001 | | 03/03/05 | | N/A | | $ | 4.2500 | | 55,000 | | 55,000 | | | | | | | | | | | | | | 8.50% Series C Cumulative Redeemable Preference Units; liquidation value $50 per unit; 220,000 units issued and outstanding at December 31, 2002 and December 31, 2001 | | 03/23/05 | | N/A | | $ | 4.2500 | | 11,000 | | 11,000 | | | | | | | | | | | | | | 8.375% Series D Cumulative Redeemable Preference Units; liquidation value $50 per unit; 420,000 units issued and outstanding at December 31, 2002 and December 31, 2001 | | 05/01/05 | | N/A | | $ | 4.1875 | | 21,000 | | 21,000 | | | | | | | | | | | | | | 8.50% Series E Cumulative Redeemable Preference Units; liquidation value $50 per unit; 1,000,000 units issued and outstanding at December 31, 2002 and December 31, 2001 | | 08/11/05 | | N/A | | $ | 4.2500 | | 50,000 | | 50,000 | | | | | | | | | | | | | | 8.375% Series F Cumulative Redeemable Preference Units; liquidation value $50 per unit; 180,000 units issued and outstanding at December 31, 2002 and December 31, 2001 | | 05/01/05 | | N/A | | $ | 4.1875 | | 9,000 | | 9,000 | | | | | | | | | | | | | | 7.875% Series G Cumulative Redeemable Preference Units; liquidation value $50 per unit; 510,000 units issued and outstanding at December 31, 2002 and December 31, 2001 | | 03/21/06 | | N/A | | $ | 3.9375 | | 25,500 | | 25,500 | | | | | | | | | | | | | | 7.625% Series H Cumulative Convertible Redeemable Preference Units; liquidation value $50 per unit; 190,000 units issued and outstanding at December 31, 2002 and December 31, 2001 | | 03/23/06 | | 1.5108 | | $ | 3.8125 | | 9,500 | | 9,500 | | | | | | | | | | | | | | 7.625% Series I Cumulative Convertible Redeemable Preference Units; liquidation value $50 per unit; 270,000 units issued and outstanding at December 31, 2002 and December 31, 2001 | | 06/22/06 | | 1.4542 | | $ | 3.8125 | | 13,500 | | 13,500 | | | | | | | | | | | | | | 7.625% Series J Cumulative Convertible Redeemable Preference Units; liquidation value $50 per unit; 230,000 units issued and outstanding at December 31, 2002 and December 31, 2001 | | 12/14/06 | | 1.4108 | | $ | 3.8125 | | 11,500 | | 11,500 | | | | | | | | | | $ | 246,000 | | $ | 246,000 | |
7.875% Series G Cumulative Redeemable Preference Units; liquidation value $50 per unit; 510,000 units issued and outstanding at December 31, 2001 | | 03/21/06 | | N/A | | $ | 3.9375 | | | 25,500 | | | — | 7.625% Series H Cumulative Convertible Redeemable Preference Units; liquidation value $50 per unit; 190,000 units issued and outstanding at December 31, 2001 | | 03/23/06 | | 1.5108 | | $ | 3.8125 | | | 9,500 | | | — | 7.625% Series I Cumulative Convertible Redeemable Preference Units; liquidation value $50 per unit; 270,000 units issued and outstanding at December 31, 2001 | | 06/22/06 | | 1.4542 | | $ | 3.8125 | | | 13,500 | | | — | 7.625% Series J Cumulative Convertible Redeemable Preference Units; liquidation value $50 per unit; 230,000 units issued and outstanding at December 31, 2001 | | 12/14/06 | | 1.4108 | | $ | 3.8125 | | | 11,500 | | | — | | | | | | | | | |
| |
| | | | | | | | | | $ | 246,000 | | $ | 186,000 | | | | | | | | | |
| |
|
(1)On or after the fifth anniversary of the respective issuance (the "Redemption Date"“Redemption Date”), all of the Preference Interests may be redeemed for cash at the option of the Company, in whole or in part, at any time or from F-20
time to time, at a redemption price payable in cash, equal to the liquidation preference of $50.00 per unit plus the cumulative amount of accrued and unpaid distributions, if any.
(2) On or after the tenth anniversary of the respective issuance (the "Conversion Date"“Conversion Date”), all of the Preference Interests are exchangeable at the option of the holder (in whole but not in part) on a one-for-one basis tofor a respective reserved series of EQR Preferred Shares. In addition, on or after the Conversion Date, the convertible Preference Interests (Series H, I & J) may be converted under certain circumstances at the option of the holder (in whole but not in part) to Common Shares based upon the contractual conversion rate, plus accrued and unpaid distributions, if any.
(3) Dividends on all series of Preference Interests are payable quarterly on March 25th, June 25th, September 25th,and December 25thof each year.F-24
The following table presents the Operating Partnership'sPartnership’s issued and outstanding Junior Convertible Preference Units (the "Junior“Junior Preference Units"Units”) as of December 31, 20012002 and December 31, 2000:2001:
| |
| |
| |
| | Amounts in Thousands
|
---|
| |
| |
| | Annual Dividend Rate per Unit(3)
|
---|
| | Redemption Date
| | Conversion Rate
| | December 31, 2001
| | December 31, 2000
|
---|
Junior Preference Units: | | | | | | | | | | | | | | Series A Junior Convertible Preference Units; liquidation value $100 per unit; 56,616 and 77,123 units issued and outstanding at December 31, 2001 and December 31, 2000, respectively | | (1 | ) | 4.0816 | | $ | 5.469344 | | $ | 5,662 | | $ | 7,712 | Series B Junior Convertible Preference Units; liquidation value $25 per unit; 7,367 units issued and outstanding at December 31, 2001 and December 31, 2000 | | (2 | ) | (2 | ) | $ | 2.000000 | | | 184 | | | 184 | | | | | | | | | |
| |
| | | | | | | | | | $ | 5,846 | | $ | 7,896 | | | | | | | | | |
| |
|
| | | | | | Annual Dividend Rate per Unit(3) | | | | | | | | | | | | | | | Redemption Date | | Conversion Rate | | | Amounts in thousands | | December 31, 2002 | | December 31, 2001 | Junior Preference Units: | | | | | | | | | | | | | | | | | | | | | | | | Series A Junior Convertible Preference Units; liquidation value $100 per unit; 56,616 units issued and outstanding at December 31, 2002 and December 31, 2001 | | | (1) | 4.0816 | | $ | 5.469344 | | $ | 5,662 | | $ | 5,662 | | | | | | | | | | | | | | Series B Junior Convertible Preference Units; liquidation value $25 per unit; 7,367 units issued and outstanding at December 31, 2002 and December 31, 2001 | | | (2) | | (2) | $ | 2.000000 | | 184 | | 184 | | | | | | | | | | $ | 5,846 | | $ | 5,846 | |
(1)On the fifth anniversary of the respective issuance (the "Redemption Date"“Redemption Date”), the Series A Junior Preference Units shall be automatically converted into OP Units based upon the conversion rate. Prior to the Redemption Date, the Operating Partnership or the holders may elect to convert the Series A Junior Preference Units to OP Units under certain circumstances based upon the conversion rate.
(2) On or after the tenth anniversary of the issuance (the "Redemption Date"“Redemption Date”), the Series B Junior Preference Units may be converted into OP Units at the option of the Operating Partnership based on the contractual conversion rate. Prior to the Redemption Date, the holders may elect to convert the Series B Junior Preference Units to OP Units under certain circumstances based on the contractual conversion rate. The contractual conversion rate is based upon a ratio dependent upon the closing price of EQR'sEQR’s Common Shares.
(3) Dividends on both series of Junior Preference Units are payable quarterly at various pay dates.F-25
F-21
5.Real Estate
The following table summarizes the carrying amounts for investment in real estate as of December 31, 2002 and 2001 and 2000(Amounts are in thousands):
| | 2001
| | 2000
| |
---|
Land | | $ | 1,840,170 | | $ | 1,770,019 | | Buildings and Improvements | | | 10,577,332 | | | 10,338,971 | | Furniture, Fixtures and Equipment | | | 519,515 | | | 443,340 | | Construction in Progress | | | 79,166 | | | 39,209 | | | |
| |
| | Real Estate | | | 13,016,183 | | | 12,591,539 | | Accumulated Depreciation | | | (1,718,845 | ) | | (1,352,236 | ) | | |
| |
| | Real Estate, net | | $ | 11,297,338 | | $ | 11,239,303 | | | |
| |
| |
| | 2002 | | 2001 | | Land | | $ | 1,803,577 | | $ | 1,840,170 | | Buildings and Improvements | | 10,643,030 | | 10,577,332 | | Furniture, Fixtures and Equipment | | 597,215 | | 519,515 | | Construction in Progress | | 2,441 | | 79,166 | | Real Estate | | 13,046,263 | | 13,016,183 | | Accumulated Depreciation | | (2,112,017 | ) | (1,718,845 | ) | Real Estate, net | | $ | 10,934,246 | | $ | 11,297,338 | |
The following table summarizes the carrying amounts for the real estate held for disposition as of December 31, 2002 and 2001 and 2000(Amounts are in thousands):
| | 2001
| | 2000
| |
---|
Land | | $ | 361 | | $ | 5,645 | | Buildings and Improvements | | | 3,157 | | | 50,739 | | Furniture, Fixtures and Equipment | | | 140 | | | 2,105 | | | |
| |
| | Real Estate | | | 3,658 | | | 58,489 | | Accumulated Depreciation | | | (287 | ) | | (6,852 | ) | | |
| |
| | Real Estate Held for Disposition | | $ | 3,371 | | $ | 51,637 | | | |
| |
| |
F-26
| | 2002 | | 2001 | | Land | | $ | — | | $ | 361 | | Buildings and Improvements | | — | | 3,157 | | Furniture, Fixtures and Equipment | | — | | 140 | | Real Estate | | — | | 3,658 | | Accumulated Depreciation | | — | | (287 | ) | Real Estate, net | | $ | — | | $ | 3,371 | |
During the year ended December 31, 2002, the Company acquired the entire equity interest in the twelve properties listed below from unaffiliated parties, and one additional unit at an existing property, for a total purchase price of $289.9 million.
Date Acquired | | Property | | Location | | Number of Units | | Acquisition Price (in thousands) | | 03/28/02 | | Isles at Sawgrass | | Sunrise, FL | | 368 | | $ | 26,000 | | 04/24/02 | | Center Pointe | | Beaverton, OR | | 264 | | 19,100 | | 04/30/02 | | Mira Flores | | Palm Beach Gardens, FL | | 352 | | 29,250 | | 05/15/02 | | Gramercy Park | | Houston, TX | | 384 | | 26,000 | | 05/31/02 | | Enclave at Winston Park | | Coconut Creek, FL | | 278 | | 25,450 | | 05/31/02 | | St. Andrews at Winston Park | | Coconut Creek, FL | | 284 | | 25,450 | | 06/21/02 | | Westside Villas VII | | Los Angeles, CA | | 53 | | 15,250 | | 07/17/02 | | Savannah Lakes | | Boynton Beach, FL | | 466 | | 37,400 | | 08/01/02 | | Cove at Fisher’s Landing | | Vancouver, WA | | 253 | | 17,800 | | 08/08/02 | | Avon Place (condo unit) | | Avon, CT | | 1 | | 69 | | 08/09/02 | | Montevista | | Dallas, TX | | 350 | | 23,675 | | 11/21/02 | | Stone Oak | | Houston, TX | | 318 | | 20,000 | | 11/26/02 | | Providence at Kirby | | Houston, TX | | 263 | | 24,500 | | | | | | | | 3,634 | | $ | 289,944 | |
During the fourth quarter of 2002, the Company paid $40.1 million in cash and used tax-deferred (1031) exchange proceeds of $42.3 million to acquire the remaining third-party equity interests it did not previously own in two properties containing 826 units. These properties were accounted for under the equity method of accounting and subsequent to these purchases were consolidated. Accordingly, the Company recorded an additional $102.1 million in investment in real estate.
On December 31, 2002, the Company contributed one of its development properties to one of its development partners, retaining a 50% common equity ownership interest. As a result of this contribution, the Company no longer can exercise sole control over the major decisions (such as sale and/or financing/refinancing) regarding this property. Effective with the contribution, the Company will account for this project under the equity method of accounting. No gain or loss on sale was recognized as the contribution was effectuated at carryover basis. As a result of this transaction, the Company reduced investment in real estate by $203.7 million (of which land and construction in progress were reduced by
F-22
$60.6 million and $143.1 million, respectively), reduced mortgage debt by $118.4 million and increased investments in unconsolidated entities by $80.7 million.
During the year ended December 31, 2001, the Company acquired the fourteen properties and one parcel of land listed below from unaffiliated partiescontaining 3,421 units for a total purchase price of $387.8 million:million. Date Acquired
| | Property
| | Location
| | Number Of Units
| | Acquisition Price (In Thousands)
|
---|
01/04/01 | | Suerte | | San Diego, CA | | 272 | | $ | 37,500 | 02/08/01 | | Westside Villas VI | | Los Angeles, CA | | 18 | | | 4,550 | 02/15/01 | | Riverview | | Norwalk, CT | | 92 | | | 9,600 | 03/15/01 | | Grand Reserve at Eagle Valley | | Woodbury, MN | | 394 | | | 54,250 | 03/22/01 | | Legends at Preston | | Morrisville, NC | | 382 | | | 30,200 | 03/30/01 | | Mission Hills | | Oceanside, CA | | 282 | | | 26,750 | 03/30/01 | | River Oaks | | Oceanside, CA | | 280 | | | 26,250 | 05/18/01 | | Promenade at Aventura | | Aventura, FL | | 296 | | | 43,000 | 08/13/01 | | Vacant Land | | Westwood, MA | | 0 | | | 600 | 08/22/01 | | Shadetree | | West Palm Beach, FL | | 76 | | | 1,948 | 08/22/01 | | Suntree | | West Palm Beach, FL | | 67 | | | 1,944 | 09/26/01 | | Palladia | | Hillsboro, OR | | 497 | | | 51,250 | 10/15/01 | | Vista Del Lago | | Dallas, TX | | 296 | | | 23,650 | 11/08/01 | | Eastbridge | | Dallas, TX | | 169 | | | 15,325 | 11/13/01 | | Talleyrand Crescent | | Tarrytown, NY | | 300 | | | 61,000 | | | | | | |
| |
| | | | | | | 3,421 | | $ | 387,817 | | | | | | |
| |
|
On July 2, 2001, the Company acquired an additional ownership interest in 21 previously Unconsolidated Properties containing 3,896 units. Prior to July 2, 2001, the Company accounted for this portfolio as an investment in mortgage notes (see Note 8). As a result of this additional ownership acquisition, the Company acquired a controlling interest, and as such, now consolidates these properties for financial reporting purposes. The Company recorded additional investments in real estate totaling $258.9 million in connection with this transaction. During the years ended December 31, 2002, 2001 and 2000, the Company capitalized $10.0 million, $8.3 million and $1.4 million, respectively, in interest costs related to wholly-owned development projects (which reduced interest expense incurred in the consolidated statements of operations). 6. Real Estate Dispositions During the year ended December 31, 2000,2002, the Company acquired 29 Properties and three parcelsdisposed of land containing 5,952 units forthe fifty-eight properties listed below to unaffiliated parties. The Company recognized a total purchase pricenet gain on sales of $743.4discontinued operations of approximately $104.3 million and a net gain on sales of unconsolidated entities of approximately $5.1 million.
Date Disposed | | Property | | Location | | Number Of Units | | Disposition Price (in thousands) | | 01/17/02 | | Ravenwood | | Mauldin, SC | | 82 | | $ | 2,425 | | 01/24/02 | | Larkspur I & II | | Moraine, OH | | 45 | | 899 | | 01/31/02 | | Springwood II | | Austintown, OH | | 43 | | 900 | | 02/21/02 | | Scottsdale Courtyards | | Scottsdale, AZ | | 274 | | 26,500 | | 04/11/02 | | Applegate | | Lordstown, OH | | 39 | | 723 | | 04/11/02 | | Applerun | | Warren, OH | | 48 | | 1,054 | | 04/11/02 | | Brunswick | | Cortland, OH | | 59 | | 1,424 | | 05/01/02 | | The Landings | | Memphis, TN | | 292 | | 10,300 | | 05/03/02 | | Waterbury | | Clarksville, TN | | 54 | | 1,385 | | 05/09/02 | | Arboretum | | Tucson, AZ | | 496 | | 25,000 | | 05/09/02 | | Orange Grove Village | | Tucson, AZ | | 400 | | 17,400 | | 05/09/02 | | Village at Tanque Verde | | Tucson, AZ | | 217 | | 9,100 | | 05/14/02 | | Canyon Crest Views | | Riverside, CA | | 178 | | 20,450 | | 05/14/02 | | Merrimac Woods | | Costa Mesa, CA | | 123 | | 12,950 | | 05/14/02 | | Sierra Canyon | | Santa Clarita, CA | | 232 | | 23,500 | | 05/15/02 | | Meadowood | | Wellsville, OH | | 40 | | 812 | | 05/23/02 | | Pine Meadow | | Greensboro, NC | | 204 | | 7,550 | | 05/23/02 | | Palms at South Shore | | League City, TX | | 240 | | 12,850 | | 05/31/02 | | California Gardens | | Jacksonville, FL | | 71 | | 1,468 | | 05/31/02 | | Westcreek | | Jacksonville, FL | | 86 | | 2,282 | | 06/19/02 | | Apple Run | | Hillsdale, MI | | 39 | | 1,047 | | 07/02/02 | | Cedar Ridge | | Arlington, TX | | 121 | | 5,500 | | 07/02/02 | | Fielder Crossing | | Arlington, TX | | 119 | | 4,100 | | 07/09/02 | | Vacant Land | | Detroit, MI | | — | | 10 | | 07/11/02 | | Stonehenge | | Tecumseh, MI | | 48 | | 1,238 | | 07/11/02 | | Ashgrove | | Marshall, MI | | 51 | | 1,314 | | | | | | | | | | | | |
F-23
07/12/02 | | Mill Village | | Randolph, MA | | 311 | | $ | 31,800 | | 07/18/02 | | Meadowood I | | Jackson, MI | | 47 | | 1,450 | | 07/24/02 | | Mountain Run | | Albuquerque, NM | | 472 | | 21,500 | | 07/30/02 | | Celebration at Westchase | | Houston, TX | | 367 | | 16,150 | | 07/30/02 | | Pleasant Ridge | | Arlington, TX | | 63 | | 2,605 | | 07/31/02 | | Cedargate I & II | | Bowling Green, KY | | 117 | | 3,020 | | 08/15/02 | | The Cedars | | Charlotte, NC | | 360 | | 14,800 | | 08/29/02 | | Bourbon Square (Retail) | | Palatine, IL | | — | | 1,200 | | 09/30/02 | | River Bend | | Tampa, FL | | 296 | | 11,200 | | 10/29/02 | | Brunswick I & II | | Morgantown, WV | | 183 | | 5,400 | | 10/31/02 | | Harvest Grove | | Conyers, GA | | 376 | | 18,900 | | 10/31/02 | | Pinney Brook | | Ellington, CT | | 35 | | 1,475 | | 10/31/02 | | Arbor Commons | | Ellington, CT | | 28 | | 1,800 | | 11/15/02 | | Knox Landing | | Knoxville, TN | | 85 | | 1,841 | | 11/15/02 | | Woodlands | | Franklin, KY | | 56 | | 1,050 | | 11/19/02 | | Ridgetree I & II | | Dallas, TX | | 798 | | 27,375 | | 11/20/02 | | Palatka Oaks I & II | | Palatka, FL | | 57 | | 1,225 | | 12/05/02 | | Parkwood East | | Fort Collins, CO | | 259 | | 18,650 | | 12/16/02 | | Alderwood Park | | Lynwood, WA | | 188 | | 12,410 | | 12/16/02 | | Ridgegate | | Kent, WA | | 153 | | 10,087 | | 12/16/02 | | Ridgetop, The | | Silverdale, WA | | 221 | | 13,234 | | 12/16/02 | | Wellington | | Silverdale, WA | | 240 | | 15,635 | | 12/20/02 | | Ridgeway Commons | | Memphis, TN | | 127 | | 5,200 | | 12/20/02 | | Farmington Gates | | Germantown, TN | | 182 | | 9,450 | | 12/23/02 | | Fountain Creek | | Phoenix, AZ | | 186 | | 8,950 | | 12/23/02 | | Wycliffe Court | | Murfreesboro, TN | | 63 | | 1,600 | | 12/27/02 | | Polos, The | | Fort Myers, FL | | 328 | | 19,483 | | 12/27/02 | | Windridge | | Dunwood, GA | | 272 | | 14,100 | | Various | | Four Lakes Condo Units | | Lisle, IL | | 115 | | 12,535 | | | | Wholly Owned Properties | | | | 9,586 | | 496,306 | | 01/31/02 | | Mount Laurel Crossing* | | Mt. Laurel, NJ | | 296 | | 11,317 | | 04/23/02 | | Foxton* | | Seymour, IN | | 39 | | — | | 08/13/02 | | Chase Knolls* | | Los Angeles, CA | | — | | 23,479 | | 10/31/02 | | Newberry* | | Grove City, PA | | 52 | | 400 | | 11/08/02 | | Hidden Pointe* | | Atlanta, GA | | 440 | | — | | 11/15/02 | | Regents Court* | | San Diego, CA | | 251 | | 14,528 | | 11/26/02 | | Greenleaf* | | Toledo, OH | | 49 | | 138 | | | | Unconsolidated Properties | | | | 1,127 | | 49,862 | | Total | | | | | | 10,713 | | $ | 546,168 | |
* Represents the acquisitionCompany’s share of the Grove portfolio. In addition, the Company paid $6.5 million to acquire interests in 25 Properties containing 3,820 units, which previously were accounted for under the equity method of accounting and subsequent to these purchases were consolidated. Accordingly, the Company recorded an additional $90.7 million in investments in real estate. 6. Real Estate Dispositionsnet disposition proceeds.
During the year ended December 31, 2001, the Company disposed of the forty-sevensold forty-nine properties and two vacant parcels of land listed belowcontaining 8,807 units to unaffiliated parties. When combined with gains fromparties for a total sales price of $416.9 million. Including the F-27
joint venture and unconsolidated property sales discussed below, the Company recognized a net gain on sales of discontinued operations of approximately $149.3$148.9 million and a net gain on these sales.sales of unconsolidated entities of approximately $0.4 million. Date Acquired
| | Property
| | Location
| | Number Of Units
| | Disposition Price (In Thousands)
|
---|
01/17/01 | | Meadowood II | | Indianapolis, IN | | 74 | | $ | 1,300 | 01/31/01 | | Concorde Bridge | | Overland Park, KS | | 248 | | | 15,600 | 02/01/01 | | Springs of Country Woods | | Salt Lake City, UT | | 590 | | | 31,000 | 02/22/01 | | Riverview Estates | | Napoleon, OH | | 90 | | | 1,750 | 02/26/01 | | Chelsea Court | | Sandusky, OH | | 62 | | | 1,600 | 02/27/01 | | Concord Square | | Lawrenceburg, IN | | 48 | | | 1,200 | 02/28/01 | | Canyon Creek | | Tucson, AZ | | 242 | | | 9,220 | 03/06/01 | | Gentian Oaks | | Columbus, GA | | 62 | | | 1,620 | 03/06/01 | | Holly Park | | Columbus, GA | | 66 | | | 1,730 | 03/06/01 | | Stratford Lane I | | Columbus, GA | | 67 | | | 1,750 | 03/07/01 | | Estate on Quarry Lake | | Austin, TX | | 302 | | | 25,232 | 03/08/01 | | Meadowood | | Crawfordsville, IN | | 64 | | | 1,300 | 03/14/01 | | Mill Run | | Statesboro, GA | | 88 | | | 2,350 | 03/15/01 | | Laurel Court | | Fremont, OH | | 69 | | | 1,450 | 03/15/01 | | Regency Woods | | West Des Moines, IA | | 200 | | | 9,350 | 03/22/01 | | Vacant Land | | Richmond, VA | | 0 | | | 11,200 | 04/16/01 | | Rosewood | | Tampa, FL | | 66 | | | 1,650 | 04/25/01 | | Parkcrest | | Southfield, MI | | 210 | | | 12,950 | 04/27/01 | | Westwood | | Newark, OH | | 14 | | | 222 | 04/30/01 | | Desert Park | | Las Vegas, NV | | 368 | | | 9,900 | 05/15/01 | | Carleton Court | | Erie, PA | | 60 | | | 1,461 | 05/16/01 | | River Oak | | Louisville, KY | | 268 | | | 14,650 | 06/07/01 | | Willowood | | Milledgeville, GA | | 61 | | | 1,550 | 06/14/01 | | Quail Cove | | Salt Lake City, UT | | 420 | | | 20,000 | 06/15/01 | | Beckford Place | | Wapakoneta, OH | | 40 | | | 830 | 06/27/01 | | The Birches | | Lima, OH | | 58 | | | 1,120 | 06/28/01 | | Pelican Pointe I and II | | Jacksonville, FL | | 160 | | | 4,150 | 06/28/01 | | Vacant Land | | Jacksonville, FL | | 0 | | | 217 | 06/28/01 | | Camden Way I and II | | Kingsland, GA | | 118 | | | 2,000 | 07/11/01 | | Plantation | | Houston, TX | | 232 | | | 12,875 | 07/12/01 | | Wood Crest Villas | | Westland, MI | | 458 | | | 20,450 | 07/17/01 | | Hampshire Court | | Bluffton, IN | | 45 | | | 1,064 | 07/17/01 | | Meadowood | | Logansport, IN | | 42 | | | 993 | 07/17/01 | | Westwood | | Rochester, IN | | 42 | | | 993 | 07/19/01 | | Vista Pointe | | Irving, TX | | 231 | | | 17,200 | 07/31/01 | | Cedarwood | | Sabina, OH | | 31 | | | 385 | 08/09/01 | | Olentangy Commons | | Columbus, OH | | 827 | | | 53,000 | 08/31/01 | | Greenglen II | | Lima, OH | | 54 | | | 1,095 | 09/28/01 | | Glenview | | Huntsville, AL | | 90 | | | 1,687 | 10/11/01 | | Apple Run II | | Columbus, OH | | 50 | | | 1,000 |
F-28
10/16/01 | | Camellia Court | | WA Court House, OH | | 40 | | | 675 | 10/26/01 | | Applegate | | Chillicothe, OH | | 41 | | | 639 | 11/01/01 | | Chaparral | | Largo, FL | | 444 | | | 19,500 | 11/08/01 | | Bay Club | | Phoenix, AZ | | 420 | | | 17,300 | 11/28/01 | | Foxchase | | Grand Prairie, TX | | 260 | | | 11,400 | 11/30/01 | | Walker Place | | Dallas, TX | | 67 | | | 1,346 | 12/10/01 | | Falls | | Tampa, FL | | 240 | | | 8,300 | 12/11/01 | | 7979 Westheimer | | Houston, TX | | 459 | | | 21,750 | 12/27/01 | | Park Knoll | | Marietta, GA | | 484 | | | 36,200 | | | | | | |
| |
| | | | | | | 8,672 | | $ | 416,204 | | | | | | |
| |
|
On February 23, During 2001, the Company entered into a joint venture with an unaffiliated joint venture partner ("JVP"(“JVP”). At closing, the Company sold and/or contributed eleven wholly owned properties containing 3,011 units valued at $202.5 million to the joint venture encumbered with $20.2 million in F-24
mortgage loans obtained on February 16, 2001. An additional $123.6 million of mortgage loans was obtained by the joint venture. The JVP contributed cash in an amount equal to 75% of the equity in the joint venture, which was then distributed to the Company. The Company retained a 25% interest in the joint venture along with the right to manage the properties. In accordance with the respective joint venture organization documents, the Company and the JVP both shall have the right, but not the obligation, to infuse additional cash into the joint venture. There are no other agreements that require the Company or the JVP to infuse cash into the joint venture. In addition, the Company and the JVP have not guaranteed the mortgage indebtedness of the joint venture. As a result, the Company recognized 75% of the gain on the sales and/or contributions of property to the joint venture, which totaled approximately $36.2 million. The Company has classified its initial $3.4 million 25% interest in the joint venture (at carryover basis) as investments in unconsolidated entities and accounted for it under the equity method of accounting. During 2001, the Company sold its entire interest in two Unconsolidated Properties containing 135 units for approximately $0.7 million. During the year ended December 31, 2000, the Company sold fifty properties containing 12,436 units to unaffiliated parties for a total sales price of $626.7 million. Including the joint venture sales discussed below, the Company recognized a net gain of approximately $198.4 million.
During 2000, the Company entered into three separate joint ventures with an unaffiliated JVP. At closing, the Company sold and/or contributed thirty-four wholly owned properties containing 7,835 units valued at $473.4 million to the joint ventures encumbered with $341.0 million in mortgage loans. The JVP contributed cash in an amount equal to 75% of the equity in the joint ventures, which was then distributed to the Company. The Company retained a 25% interest in the joint venture along with the right to manage the properties. In accordance with the respective joint venture organization documents, the Company and the JVP both shall have the right, but not the obligation, to infuse additional cash into each joint venture. There are no other agreements that require the Company or the JVP to infuse cash into each joint venture. In addition, the Company and the JVP have not guaranteed the mortgage
F-29
indebtedness of each joint venture. As a result, the Company recognized 75% of the gain on the sales and/or contributions of property to the joint ventures, which totaled approximately $70.2 million. The Company has classified its initial $10.7 million 25% interest in the joint ventures (at carryover basis) as investments in unconsolidated entities and accounted for them under the equity method of accounting.
During 2000, the Company also sold its entire interest in three Unconsolidated Properties containing 377 units for approximately $4.6 million.
7.Commitments to Acquire/Dispose of Real Estate As of December 31, 2001,2002, in addition to the property that was subsequently acquired as discussed in Note 24, the Company has nothad entered into any separate agreements to acquire additionaltwo multifamily properties.properties containing 694 units from unaffiliated parties. The Company expects a combined purchase price of approximately $73.0 million, including the assumption of mortgage indebtedness of approximately $35.2 million.
As of December 31, 2001,2002, in addition to the Propertiesproperties that were subsequently disposed of as discussed in Note 22,24, the Company had entered into separate agreements to dispose of twenty-eightthirty-eight multifamily properties containing 5,6857,313 units to unaffiliated parties. The Company expects a combined disposition price of approximately $317.2$348.6 million.
The closings of these pending transactions are subject to certain contingencies and conditions, therefore, there can be no assurance that these transactions will be consummated or that the final terms thereof will not differ in material respects from those summarized in the preceding paragraphs. 8. Investment in Mortgage Notes, Net In 1995, the Company invested $89 million in various partnership interests and subordinated mortgages collateralized by 21 Properties consisting of 3,896 units. Prior to the consolidation of these Properties,properties, the Company received $61.4 million in cash during 2001 as partial repayment of its investment in these mortgage notes. On July 2, 2001, the Company acquired an additional ownership interest in the 21 entities that own the Unconsolidated Properties. As a result of this additional ownership interest, the Company now has a controlling interest, and as such, consolidates these properties for financial reporting purposes. The unamortized balance of the discount on the notes at December 31, 2001 and 2000 was zero and $3.6 million, respectively.
During 2001, and 2000, the Company amortized $2.3 million, and $1.2 million, respectively.which represented a portion of the original discount when the notes were purchased. This discount was being amortized utilizing the effective yield method based on the expected life of the investment. The fair value of the mortgage notes as of December 31, 2001 and 2000 was estimated to be approximately zero and $80.8 million, respectively, compared to the Company's carrying value of zero and $77.2 million, respectively. F-30
9. Investments in Unconsolidated Entities The Company has entered intoco-invested in various joint venture agreementsproperties with unrelated third party companies.parties. The following table summarizes the Company'sCompany’s investments in unconsolidated entities as of December 31, 20012002 (amounts in thousands except for project and unit amounts):
| | Institutional Joint Ventures
| | Stabilized Development Joint Ventures(1)
| | Development Joint Ventures
| | Lexford/ Other
| | Totals
|
---|
Total projects | | | 45 | | | 9 | | | 18 | (2) | | 27 | | | 99 | | |
| |
| |
| |
| |
| Total units | | | 10,846 | | | 2,667 | | | 5,846 | (2) | | 3,348 | | | 22,707 | | |
| |
| |
| |
| |
| EQR's percentage ownership of mortgage notes payable | | | 25.0 | % | | 80.2 | % | | 100.0 | % | | 15.6 | % | | | EQR's share of mortgage notes payable(4) | | $ | 121,200 | | $ | 150,123 | | $ | 269,109 | (3) | $ | 10,542 | | $ | 550,974 | | |
| |
| |
| |
| |
|
F-25
| | Institutional Joint Ventures | | Stabilized Development Projects(1) | | Projects Under Development | | Lexford/ Other | | Totals | | | | | | | | | | | | | | Total projects | | 45 | | 11 | | 18 | (2) | 23 | | 97 | | | | | | | | | | | | | | Total units | | 10,846 | | 3,483 | | 4,981 | (2) | 2,773 | | 22,083 | | | | | | | | | | | | | | Company’s percentage ownership of outstanding debt | | 25.0 | % | 100.0 | % | 100.0 | % | 11.1 | % | | | | | | | | | | | | | | | Company’s share of outstanding debt(4) | | $ | 121,200 | | $ | 268,283 | | $ | 468,645 | (3) | $ | 5,512 | | $ | 863,640 | | | | | | | | | | | | | | | | | | |
(1)The Company determines a project to be stabilized once it has maintained an average physical occupancy of 90% or more for a three-month period.
(2) Includes fourfourteen projects under development consisting of 1,3113,961 units, which are completed and not yet stabilized, but are included in the Company'sCompany’s property/unit counts at December 31, 2001. The remaining 14 properties containing 4,5352002. Totals also exclude Fort Lewis Military Housing consisting of one property and 3,652 units, arewhich is not included inaccounted for under the Company's property/unit counts at December 31, 2001.
(3)Represents the amount funded and outstanding asequity method of December 31, 2001.accounting.(3) A total of $718,745$786.9 million is available for funding under thesethis construction loans.
debt, of which $468.6 million was funded and outstanding at December 31, 2002.(4) EQR As of January 30, 2003, the Company has funded $57.5$51.0 million as additional collateral for certain of these loanson selected debt (see Note 10). All remaining debt is non-recourse to EQR.the Company. Investments in unconsolidated entities includesinclude the Unconsolidated Properties as well as various uncompleted development joint venture properties.properties under construction or pending construction. The Company does not consolidate these entities as it does not have the ability to exercise unilateralsole control overof the major decisions (such as sale and/or financing/refinancing) regarding these entities.. The Company's legalCompany’s common equity ownership interests in these entities range from 1.5%4.5% to 57.0%50.0% at December 31, 2001.2002. These investments are accounted for utilizing the equity method of accounting. Under the equity method of accounting, the net equity investment of the Company is reflected on the consolidated balance sheets and after the project is completed, the consolidated statements of operations include the Company'sCompany’s share of net income or loss from the unconsolidated entity. Prior to the project being completed, the Company capitalizedcapitalizes interest on its equity contribution in accordance with the provisions of SFAS No. 58,Capitalization of Interest Cost in Financial Statements That Include Investments Accounted for by the Equity Method. During the years ended December 31, 2002, 2001 2000 and 1999,2000, the Company capitalized $17.2 million, $19.9 million $16.2 million, and $6.6$16.2 million, respectively, in interest cost related to its unconsolidated joint venture development projects (which reduced interest expense incurred in the consolidated statements of operations). The Company generally contributes between 25% and 30%35% of the constructionproject cost of the unconsolidated projects under development, joint venture projects, with the remaining cost financed through third-party construction mortgages. F-31
10. Deposits— Deposits - - Restricted As of December 31, 2002, deposits-restricted totaled $141.3 million and primarily included the following: F-26
• deposits in the amount of $51.0 million held in third party escrow accounts to provide collateral for third party construction financing in connection with unconsolidated development projects; • approximately $25.4 million in tax-deferred (1031) exchange proceeds; and • approximately $64.9 million for resident security, utility, and other deposits. As of December 31, 2001, deposits-restricted totaled $218.6 million and primarily included the following: • - deposits in the amount of $57.5 million held in third party escrow accounts to provide collateral for third party construction financing in connection with unconsolidated development
joint venture agreements;
- projects;
• - approximately $86.5 million in tax-deferred (1031) exchange proceeds; and
• - approximately $74.6 million for
tenantresident security, utility, and other deposits.
11. Mortgage Notes Payable As of December 31, 2000, deposits-restricted totaled $231.6 million and primarily included the following: •deposits in the amount of $39.5 million held in third party escrow accounts to provide collateral for third party construction financing in connection with unconsolidated development joint venture agreements;
•approximately $127.8 million in tax-deferred (1031) exchange proceeds; and
•approximately $64.3 million for tenant security, utility, and other deposits.
11. Mortgage Notes Payable
As of December 31, 2001,2002, the Company had outstanding mortgage indebtedness of approximately $3.3$2.9 billion.
During the year ended December 31, 2001,2002, the Company: • - repaid
$364.2$407.7 million of mortgages due at or prior to maturity and/or at the disposition date of the respective Property;
- mortgage loans;
• - assumed
$91.6$50.5 million of mortgage debt on certain properties in connection with their acquisitions;
- acquisitions and/or consolidations;
• - disposed of
$30.4$128.3 million of mortgage debt assumed by the purchaser in connection with the disposition of certain properties;
- properties and the furniture rental business;
• - obtained
$26.0$30.0 million of new mortgage debtloans on previously unencumberedcertain properties;
- and
• - obtained
$301.5 million of new mortgage debt on previously Unconsolidated Properties; and
•received $65.6$96.1 million in construction loan draw proceedsloans on certain properties.
As of December 31, 2001,2002, scheduled maturities for the Company'sCompany’s outstanding mortgage indebtedness were at various dates through October 1, 2033. TheAt December 31, 2002, the interest rate range on the Company'sCompany’s mortgage debt was 1.50%1.29% to 12.465% at December 31, 2001.. During the year ended December 31, 2001,2002, the weighted average interest rate on the Company'sCompany’s mortgage debt was 6.54%6.35%. F-32
The historical cost, net of accumulated depreciation, of encumbered properties was $4.1 billion and $4.9 billion at December 31, 2002 and 2001, respectively. Aggregate payments of principal on mortgage notes payable for each of the next five years and thereafter are as follows (amounts in thousands): Year
| | Total
|
---|
2002 | | $ | 233,993 | 2003 | | | 111,576 | 2004 | | | 176,971 | 2005 | | | 216,365 | 2006 | | | 236,183 | Thereafter | | | 2,310,736 | Net Unamortized Premiums/Discounts | | | 990 | | |
| Total | | $ | 3,286,814 | | |
|
Year | | Total | | 2003 | | $ | 123,603 | | 2004 | | 185,232 | | 2005 | | 184,539 | | 2006 | | 255,452 | | 2007 | | 161,001 | | Thereafter | | 2,017,071 | | Net Unamortized Premiums/Discounts | | 716 | | Total | | $ | 2,927,614 | |
As of December 31, 2000,2001, the Company had outstanding mortgage indebtedness of approximately $3.2$3.3 billion. During the year ended December 31, 2000,2001, the Company: • recorded $65.1 repaid $396.9 million of mortgage debt in connection with the consolidation of the Guilford portfolio on January 1, 2000;
- loans;
• repaid $171.8 assumed $91.6 million of mortgage debt on eighty-three Properties;certain properties in connection with their acquisitions;F-27
•obtained $148.3$301.5 million of new mortgage debt on eleven previously unencumberedunconsolidated properties;
• settled on a $100 million forward starting swap and received approximately $7.1 million. This amount is being amortized over the life disposed of the financing for the eleven previously unencumbered Properties that occurred on March 20, 2000;
•assumed $87.4$30.4 million of mortgage debt on nine propertiesassumed by the purchaser in connection with their acquisitions;
the disposition of certain properties;• obtained $88.3$26.0 million of new mortgage debt on previously unencumbered properties; and• received $65.6 million in construction loan commitmentsdraw proceeds on two properties, of which $29.1 million is currently outstanding;
•recorded $15.0 million of mortgage debt in connection with the consolidation of the CNL Portfolio and Springtree Apartments;
•recorded $1.4 million of mortgage debt in connection with the Globe acquisition;
•recorded $203.4 million of mortgage debt in connection with the Grove acquisition;
•disposed of five properties, in which $4.8 million of mortgage debt was assumed by the purchasers; and
•refinanced $208.8 million of debt on 16 existingcertain properties. As of December 31, 2000,2001, scheduled maturities for the Company'sCompany’s outstanding mortgage indebtedness were at various dates through October 1, 2033. TheAt December 31, 2001, the interest rate range on the Company'sCompany’s mortgage debt was 3.95%1.50% to 12.465% at December 31, 2000.. During the year ended December 31, 2000,2001, the weighted average interest rate on the Company'sCompany’s mortgage debt was 6.89%6.54%.
12. Notes
12. Notes The following tables summarize the Company'sCompany’s unsecured note balances and certain interest rate and maturity date information as of and for the years ended December 31, 2002 and 2001, and 2000, respectively:
| | December 31, 2001
|
---|
| | Net Principal Balance
| | Interest Rate Ranges
| | Weighted Average Interest Rate
| | Maturity Date Ranges
|
---|
| | (Amounts Are In Thousands)
|
---|
Fixed Rate Public Notes | | $ | 2,033,276 | | 5.0% - 9.375% | | 6.96% | | 2002 - 2026 | Floating Rate Public Note | | | 99,888 | | (1 | ) | 5.15% | | 2003 | Fixed Rate Tax-Exempt Bonds | | | 127,780 | | 4.75% - 5.20% | | 5.07% | | 2024 - 2029 | | |
| | | | | | | Totals | | $ | 2,260,944 | | | | | | | | |
| | | | | | |
| | December 31, 2000
|
---|
| | Net Principal Balance
| | Interest Rate Ranges
| | Weighted Average Interest Rate
| | Maturity Date Ranges
|
---|
| | (Amounts Are In Thousands)
|
---|
Fixed Rate Public Notes | | $ | 1,892,481 | | 5.0% - 9.375% | | 6.93% | | 2001 - 2026 | Floating Rate Public Note | | | 99,818 | | (1 | ) | 7.28% | | 2003 | Fixed Rate Tax-Exempt Bonds | | | 127,780 | | 4.75% - 5.20% | | 5.07% | | 2024 - 2029 | | |
| | | | | | | Totals | | $ | 2,120,079 | | | | | | | | |
| | | | | | |
December 31, 2002 (Amounts are in thousands) | | Net Principal Balance | | Interest Rate Ranges | | Weighted Average Interest Rate | | Maturity Date Ranges | | | | | | | | | | | | Fixed Rate Public Notes | | $ | 2,228,350 | | 4.861% - 7.75% | | 6.63 | % | 2003 - 2026 | | Floating Rate Public Note | | 99,955 | | | (1) | 2.61 | % | 2003 | | Fixed Rate Tax-Exempt Bonds | | 127,780 | | 4.75% - 5.20% | | 5.07 | % | 2024-2029 | | | | | | | | | | | | Totals | | $ | 2,456,085 | | | | | | | |
December 31, 2001 (Amounts are in thousands) | | Net Principal Balance | | Interest Rate Ranges | | Weighted Average Interest Rate | | Maturity Date Ranges | | | | | | | | | | | | Fixed Rate Public Notes | | $ | 2,033,276 | | 5.0% - 9.375% | | 6.96 | % | 2002 - 2026 | | Floating Rate Public Note | | 99,888 | | | (1) | 5.15 | % | 2003 | | Fixed Rate Tax-Exempt Bonds | | 127,780 | | 4.75% - 5.20% | | 5.07 | % | 2024-2029 | | | | | | | | | | | | Totals | | $ | 2,260,944 | | | | | | | |
(1)The interest rate on this note was LIBOR (reset quarterly) plus a spread equal to 0.63% and 0.65% at both December 31, 20012002 and December 31, 2000, respectively.2001. As of December 31, 2002, the Company had outstanding unsecured notes of approximately $2.5 billion net of a $6.0 million discount and including a $8.6 million premium. As of December 31, 2001, the Company had outstanding unsecured notes of approximately $2.3 billion net of a $3.8 million discount and including a $2.9 million premium. As of December 31, 2000, the Company had outstanding unsecured notes of approximately $2.1 billion net of a $3.7 million discount and including a $5.0 million premium. On August 25, 2000, the Operating Partnership filed with the SEC a Form S-3 Registration Statement to register $1.0 billion of debt securities. The SEC declared this registration statement effective on September 8, 2000. In addition, the Operating Partnership carried over $430$430.0 million related to the registration statement effective on February 27, 1998. As of December 31, 2001, $1.13 billion2002, $680.0 million remained available for issuance under this registration statement. During the year ended December 31, 2002, the Company: • issued $400.0 million of ten-year 6.625% fixed-rate public notes and $50.0 million of five-year 4.861% fixed rate public notes, receiving net proceeds of $444.4 million; F-28
• repaid $100.0 million of 9.375% fixed rate public notes at maturity; • repaid $125.0 million of 7.95% fixed rate public notes at maturity; and • repaid $40.0 million of 7.25% fixed rate public notes at maturity. During the year ended December 31, 2001, the Company and/or the Operating Partnership:Company: • - issued $300.0 million of ten-year 6.95% fixed-rate public notes; and
• paid off at maturity fixed rate 6.55% public notes repaid $150.0 million of $150.0 million.
During the year ended December 31, 2000, the Company and/or the Operating Partnership:
•assumed $39.5 million in unsecured notes;
•paid off at maturity fixed rate 7.25% public notes of $55.0 million;
•paid off at maturity fixed rate 6.15% public notes of $145.0 million; and
•paid off $8.0 million in6.55% fixed rate public notes.
F-34notes at maturity.
Aggregate payments of principal on unsecured notes payable for each of the next five years and thereafter are as follows (amounts in thousands): Year | | Total | | 2003 | | $210,347 | | 2004 | | 419,643 | | 2005* | | 493,534 | | 2006 | | 204,085 | | 2007 | | 154,918 | | Thereafter | | 970,945 | | Net Unamortized Premiums | | 8,619 | | Net Unamortized Discounts | | (6,006 | ) | Total | | $2,456,085 | |
Year
| | Total
| |
---|
2002 | | $ | 269,863 | | 2003 | | | 194,286 | | 2004 | | | 419,286 | | 2005* | | | 494,286 | | 2006 | | | 204,286 | | Thereafter | | | 679,810 | | Net Unamortized Premiums | | | 2,905 | | Net Unamortized Discounts | | | (3,778 | ) | | |
| | Total | | $ | 2,260,944 | | | |
| |
*Includes $300 million with a final maturity of 2015 that is putable/callable in 2005.
13. Lines Line of Credit The On May 30, 2002, the Company hasobtained a new three-year $700.0 million unsecured revolving credit facility to provide the Operating Partnership with potential borrowings of up to $700.0 million. Thismaturing May 29, 2005. The new line of credit maturesreplaced the $700.0 million unsecured revolving credit facility that was scheduled to expire in August 2002. The prior existing revolving credit facility was terminated upon the closing of the new facility. Advances under the new credit facility bear interest at variable rates based upon LIBOR at various interest periods, plus a spread dependent upon the Company'sOperating Partnership’s credit rating. Asrating, or based upon bids received from the lending group. EQR has guaranteed the Operating Partnership’s line of February 5, 2002, $320.0 million was outstanding under this facility at a weighted average interest ratecredit up to the maximum amount and for the full term of 2.43%.the facility. As of December 31, 2002 and 2001, and 2000, $195.0$140.0 million and $355.5$195.0 million, respectively, was outstanding and $59.0$60.8 million and $53.5$59.0 million, respectively, was restricted (not(dedicated to support letters of credit and not available to be drawn)for borrowing) on the linesline of credit. During the years ended December 31, 20012002 and 2000,2001, the weighted average interest rate was 5.03%2.30% and 7.52%5.03%, respectively. In connection with the Globe acquisition, the Company assumed a revolving credit facility with potential borrowings of up to $55.0 million. On May 31, 2001, this credit facility was terminated. In connection with 14.Derivative Instruments The following table summarizes the Grove acquisition,consolidated derivative instruments at December 31, 2002 (dollar amounts are in thousands): F-29
| | Cash Flow Hedges | | Fair Value Hedges | | Forward Starting Swaps | | Offsetting Receive Floating Swaps/Caps | | Offsetting Pay Floating Swaps/Caps | | Current Notional Balance | | $ | 400,000 | | $ | 120,000 | | $ | 250,000 | | $ | 255,118 | | $ | 255,118 | | Lowest Possible Notional | | $ | 400,000 | | $ | 120,000 | | $ | 250,000 | | $ | 251,410 | | $ | 251,410 | | Highest Possible Notional | | $ | 400,000 | | $ | 120,000 | | $ | 250,000 | | $ | 431,444 | | $ | 431,444 | | Lowest Interest Rate | | 3.65125 | % | 7.25000 | % | 5.06375 | % | 4.52800 | % | 4.45800 | % | Highest Interest Rate | | 5.81000 | % | 7.25000 | % | 5.42600 | % | 6.00000 | % | 6.00000 | % | Earliest Maturity Date | | 2003 | | 2005 | | 2013 | | 2003 | | 2003 | | Latest Maturity Date | | 2005 | | 2005 | | 2013 | | 2007 | | 2007 | | Estimated Asset (Liability) Fair Value | | $ | (14,438 | ) | $ | 9,069 | | $ | (11,077 | ) | $ | (3,148 | ) | $ | 3,025 | |
At December 31, 2002, certain unconsolidated development partnerships in which the Company assumedinvested had entered into swaps to hedge the interest rate risk exposure on unconsolidated floating rate construction mortgage loans. The Company has recorded its proportionate share of these hedges on its consolidated balance sheets. These swaps have been designated as cash flow hedges with a linecurrent aggregate notional amount of credit that had$446.6million (notional amounts range from $169.2million to $555.9million over the terms of the swaps) at interest rates ranging from 2.115% to 6.94% maturing at various dates ranging from 2003 to 2005 with a net liability fair value of $13.9million. During the year ended December 31, 2002, the Company recognized an outstanding balanceunrealized loss of $1.1 million due to ineffectiveness of certain of these unconsolidated development derivatives (included in income (loss) from investments in unconsolidated entities). On December 31, 2002, the net derivative instruments were reported at their fair value as other liabilities of approximately $38.0$16.6 million and as a reduction to investments in unconsolidated entities of approximately $13.9 million. On OctoberAs of December 31, 2000,2002, there were approximately $42.8 million in deferred losses, net, included in accumulated other comprehensive loss. Based on the estimated fair values of the net derivative instruments at December 31, 2002, the Company repaid this outstanding balance and terminated this facility.may recognize an estimated $17.7 million of accumulated other comprehensive loss as additional interest expense during the twelve months ending December 31, 2003, of which $7.9 million is related to the unconsolidated development partnerships. F-35
14. 15.Calculation of Net Income Per Weighted Average Common Share
The following tables set forth the computation of net income per share—share – basic and net income per share—share – diluted:
| | Year Ended December 31,
| |
---|
| | 2001
| | 2000
| | 1999
| |
---|
| | (Amounts In Thousands Except Per Share Amounts)
| |
---|
Numerator: | | | | | | | | | | | Income before allocation to Minority Interests, income from investments in unconsolidated entities, net gain on sales of real estate, extraordinary items, cumulative effect of change in accounting principle and preferred distributions | | $ | 356,424 | | $ | 395,937 | | $ | 326,483 | | Allocation to Minority Interests: | | | | | | | | | | | | Operating Partnership | | | (32,829 | ) | | (41,761 | ) | | (29,536 | ) | | Partially Owned Properties | | | (2,249 | ) | | 132 | | | — | | Income from investments in unconsolidated entities | | | 3,772 | | | 2,309 | | | 3,850 | | Preferred distributions | | | (106,119 | ) | | (111,941 | ) | | (113,196 | ) | | |
| |
| |
| | Income before net gain on sales of real estate, extraordinary items and cumulative effect of change in accounting principle | | | 218,999 | | | 244,676 | | | 187,601 | | Net gain on sales of real estate | | | 149,293 | | | 198,426 | | | 93,535 | | Extraordinary items | | | 444 | | | (5,592 | ) | | (451 | ) | Cumulative effect of change in accounting principle | | | (1,270 | ) | | — | | | — | | | |
| |
| |
| | Numerator for net income per share—basic | | | 367,466 | | | 437,510 | | | 280,685 | | Effect of dilutive securities: | | | | | | | | | | | | Allocation to Minority Interests—Operating Partnership | | | 32,829 | | | 41,761 | | | 29,536 | | | Distributions on convertible preferred shares/units | | | 445 | | | 7,385 | | | — | | | |
| |
| |
| | Numerator for net income per share—diluted | | $ | 400,740 | | $ | 486,656 | | $ | 310,221 | | | |
| |
| |
| | Denominator: | | | | | | | | | | | Denominator for net income per share—basic | | | 267,349 | | | 259,015 | | | 244,350 | | Effect of dilutive securities: | | | | | | | | | | | | OP Units | | | 24,013 | | | 24,906 | | | 25,652 | | | Convertible preferred shares/units | | | 339 | | | 4,763 | | | — | | | Share options/restricted shares | | | 3,851 | | | 2,582 | | | 1,308 | | | |
| |
| |
| | Denominator for net income per share—diluted | | | 295,552 | | | 291,266 | | | 271,310 | | | |
| |
| |
| | Net income per share—basic | | $ | 1.37 | | $ | 1.69 | | $ | 1.15 | | | |
| |
| |
| | Net income per share—diluted | | $ | 1.36 | | $ | 1.67 | | $ | 1.14 | | | |
| |
| |
| |
F-36
Net income per share—basic: | | | | | | | | | | | Income before net gain on sales of real estate, extraordinary items and cumulative effect of change in accounting principle per share — basic | | $ | 0.86 | | $ | 1.01 | | $ | 0.80 | | Net gain on sales of real estate | | | 0.51 | | | 0.70 | | | 0.35 | | Extraordinary items | | | — | | | (0.02 | ) | | — | | Cumulative effect of change in accounting principle | | | — | | | — | | | — | | | |
| |
| |
| | Net income per share—basic | | $ | 1.37 | | $ | 1.69 | | $ | 1.15 | | | |
| |
| |
| | Net income per share—diluted: | | | | | | | | | | | Income before net gain on sales of real estate, extraordinary items and cumulative effect of change in accounting principle per share—diluted | | $ | 0.85 | | $ | 1.01 | | $ | 0.80 | | Net gain on sales of real estate | | | 0.51 | | | 0.68 | | | 0.34 | | Extraordinary items | | | — | | | (0.02 | ) | | — | | Cumulative effect of change in accounting principle | | | — | | | — | | | — | | | |
| |
| |
| | Net income per share—diluted | | $ | 1.36 | | $ | 1.67 | | $ | 1.14 | | | |
| |
| |
| |
F-30
| | Year Ended December 31, | | | | 2002 | | 2001 | | 2000 | | | | (Amounts in thousands except per share amounts) | | Numerator: | | | | | | | | Income before allocation to Minority Interests, income (loss) from investments in unconsolidated entities, net gain on sales of unconsolidated entities, discontinued operations, extraordinary items, cumulative effect of change in accounting principle and preferred distributions | | $ | 328,905 | | $ | 393,120 | | $ | 360,878 | | | | | | | | | | Allocation to Minority Interests: | | | | | | | | Operating Partnership | | (26,862 | ) | (32,829 | ) | (41,761 | ) | Partially Owned Properties | | (1,867 | ) | (2,249 | ) | 132 | | Income (loss) from investments in unconsolidated entities | | (3,698 | ) | 3,772 | | 2,309 | | Preferred distributions | | (97,151 | ) | (106,119 | ) | (111,941 | ) | | | | | | | | | Income before net gain on sales of unconsolidated entities, discontinued operations, extraordinary items and cumulative effect of change in accounting principle | | 199,327 | | 255,695 | | 209,617 | | | | | | | | | | Net gain on sales of unconsolidated entities | | 5,054 | | 387 | | — | | Net gain on sales of discontinued operations | | 104,296 | | 148,906 | | 198,426 | | Discontinued operations, net | | 16,277 | | (36,696 | ) | 35,059 | | Extraordinary items | | (792 | ) | 444 | | (5,592 | ) | Cumulative effect of change in accounting principle | | — | | (1,270 | ) | — | | | | | | | | | | Numerator for net income per share – basic | | 324,162 | | 367,466 | | 437,510 | | | | | | | | | | Effect of dilutive securities: | | | | | | | | Allocation to Minority Interests - Operating Partnership | | 26,862 | | 32,829 | | 41,761 | | Distributions on convertible preferred shares/units | | — | | 445 | | 7,385 | | | | | | | | | | Numerator for net income per share – diluted | | $ | 351,024 | | $ | 400,740 | | $ | 486,656 | | | | | | | | | | Denominator: | | | | | | | | Denominator for net income per share – basic | | 271,974 | | 267,349 | | 259,015 | | | | | | | | | | Effect of dilutive securities: | | | | | | | | OP Units | | 22,663 | | 24,013 | | 24,906 | | Convertible preferred shares/units | | — | | 339 | | 4,763 | | Share options/restricted shares | | 3,332 | | 3,851 | | 2,582 | | | | | | | | | | Denominator for net income per share – diluted | | 297,969 | | 295,552 | | 291,266 | | | | | | | | | | Net income per share – basic | | $ | 1.19 | | $ | 1.37 | | $ | 1.69 | | | | | | | | | | Net income per share – diluted | | $ | 1.18 | | $ | 1.36 | | $ | 1.67 | |
F-31
| | Year Ended December 31, | | | | 2002 | | 2001 | | 2000 | | | | (Amounts in thousands except per share amounts) | | | | | | | | | | Net income per share – basic: | | | | | | | | Income before net gain on sales of unconsolidated entities, discontinued operations, extraordinary items and cumulative effect of change in accounting principle per share – basic | | $ | 0.77 | | $ | 0.99 | | $ | 0.89 | | Net gain on sales of unconsolidated entities | | 0.02 | | — | | — | | Net gain on sales of discontinued operations | | 0.35 | | 0.51 | | 0.70 | | Discontinued operations, net | | 0.05 | | (0.13 | ) | 0.12 | | Extraordinary items | | — | | — | | (0.02 | ) | Cumulative effect of change in accounting principle | | — | | — | | — | | | | | | | | | | Net income per share – basic | | $ | 1.19 | | $ | 1.37 | | $ | 1.69 | | | | | | | | | | Net income per share – diluted: | | | | | | | | Income before net gain on sales of unconsolidated entities, discontinued operations, extraordinary items and cumulative effect of change in accounting principle per share – diluted | | $ | 0.76 | | $ | 0.98 | | $ | 0.89 | | Net gain on sales of unconsolidated entities | | 0.02 | | — | | — | | Net gain on sales of discontinued operations | | 0.35 | | 0.50 | | 0.68 | | Discontinued operations, net | | 0.05 | | (0.12 | ) | 0.12 | | Extraordinary items | | — | | — | | (0.02 | ) | Cumulative effect of change in accounting principle | | — | | — | | — | | | | | | | | | | Net income per share – diluted | | $ | 1.18 | | $ | 1.36 | | $ | 1.67 | |
All net income per share-basic amounts have been calculated prior to considering any allocation for Minority Interests - Operating Partnership due to the ability of the OP Unit holders to exchange their OP Units for Common Shares on a one-for-one basis.
Convertible preferred shares/units that could be converted into 15,335,977, 15,122,162 13,138,716 and 24,046,10213,138,716 weighted average Common Shares for the years ended December 31, 2002, 2001 2000 and 1999,2000, respectively, were outstanding but were not included in the computation of diluted earnings per share because the effects would be anti-dilutive.
On October 11, 2001, the Company effected a two-for-one split of its Common Shares and OP Units to shareholders and unitholders of record as of September 21, 2001. All per share and OP Unit data and numbers of Common Shares and OP Units have been retroactively adjusted to reflect the Common Share and OP Unit split.
For additional disclosures regarding the employee share options and restricted shares, see Note 15.17.
15.16. Discontinued Operations
The Company has presented separately as discontinued operations in all periods the results of operations for all assets disposed of on or after January 1, 2002 (the date of adoption of SFAS No. 144) and for all assets classified as real estate held for disposition as of December 31, 2002. In addition, net gain on sales of properties in 2001 and 2000 have been classified as discontinued operations in the accompanying consolidated statements of operations. The components of discontinued operations are outlined below and include the results of operations for the respective periods that the Company owned such assets during each of the years ended December 31, 2002, 2001 and 2000, including the following: • the sale of the furniture rental business on January 11, 2002; and • the Wholly Owned Properties sold during 2002 (see Note 6). F-32
| | Year Ended December 31, | | | | 2002 | | 2001 | | 2000 | | | | (Amounts in thousands) | | | | | | | | | | REVENUES | | | | | | | | Rental income | | $ | 46,571 | | $ | 73,324 | | $ | 70,516 | | Interest and other income | | 21 | | 71 | | 68 | | Furniture income | | 1,361 | | 57,499 | | 32,316 | | Total revenues | | 47,953 | | 130,894 | | 102,900 | | | | | | | | | | EXPENSES | | | | | | | | Property and maintenance | | 14,076 | | 19,935 | | 19,080 | | Real estate taxes and insurance | | 4,695 | | 7,343 | | 6,753 | | Depreciation | | 10,615 | | 17,667 | | 16,408 | | Interest expense incurred, net | | 981 | | 2,347 | | 2,771 | | Amortization of deferred financing costs | | 6 | | 23 | | 41 | | Amortization of goodwill | | — | | 1,423 | | 680 | | Impairment on furniture rental business | | — | | 60,000 | | — | | Furniture expenses | | 1,303 | | 58,852 | | 22,108 | | Total expenses | | 31,676 | | 167,590 | | 67,841 | | | | | | | | | | Discontinued operations, net | | $ | 16,277 | | $ | (36,696 | ) | $ | 35,059 | |
The Company disposed of its furniture rental business for $30.0 million and received net proceeds of $28.7 million. After giving effect to a previously recorded impairment loss, no gain/loss on sale was recognized as the net book value at the sale date approximated the sales price. For the year ended December 31, 2001, the Company recorded $60.0 million of asset impairment charges related to its furniture rental business. These charges were the result of a review of the existing intangible and tangible assets reflected on the consolidated balance sheet as of September 30, 2001. The Company reviewed the current net book value taking into consideration existing business and economic conditions as well as projected cash flows. The impairment loss includes the write-down of the following assets: a) goodwill of approximately $26.0 million; b) rental furniture, net of approximately $28.6 million; c) property and equipment, net of approximately $4.5 million; and d) other assets of approximately $0.9 million. 17. Share Option and Share Award Plan Pursuant to the Company'sCompany’s Fifth Amended and Restated 1993 Share Option and Share Award Plan (the "Fifth“Fifth Amended Option and Award Plan"Plan”), officers, directors,trustees, key employees and consultants of the Company may be offered the opportunity to acquire Common Shares through the grant of share options ("Options"(“Options”) including non-qualified share options ("NQSOs"(“NQSOs”), incentive share options ("ISOs"(“ISOs”) and share appreciation rights ("SARs"(“SARs”) or may be granted restricted or non-restricted shares. Additionally, under the Fifth Amended Option and Award Plan, officers and key employees of the Company may be awarded Common Shares, subject to conditions and restrictions as described in the Fifth Amended Option and Award Plan. Finally, certain executive officers of the Company are subject to the Company'sCompany’s performance based restricted share grant agreement.plan. Options and SARs are sometimes referred to herein as "Awards"“Awards”. The Company has reserved 25,000,000 Common Shares for issuance under the Fifth Amended Option and Award Plan. The Options generally are granted at the fair market value of the Company'sCompany’s Common Shares at the date of grant, vest over a three year period, are exercisable upon vesting and expire ten years from the date of grant. The exercise price for all Options under the Fifth Amended F-37
Option and Award Plan shall not be less than the fair market value of the underlying Common Shares at the time the Option is granted. The Fifth Amended Option and Award Plan will terminate at such time as no further F-33
Common Shares are available for issuance upon the exercise of Options and all outstanding Options have expired or been exercised. The Board of Trustees may at any time amend or terminate the Fifth Amended Option and Award Plan, but termination will not affect Awards previously granted. Any Options, which had vested prior to such a termination, would remain exercisable by the holder thereof. As to the Options that have been granted through December 31, 2001,2002, generally, one-third are exercisable one year after the initial grant, one-third are exercisable two years following the date such Options were granted and the remaining one-third are exercisable three years following the date such Options were granted. As to the restricted shares that have been awarded through December 31, 2001,2002, these shares generally vest three years from the award date. During the three-year period of restriction, the employee receives quarterly dividend payments on their shares. If employment is terminated prior to the lapsing of the restriction, the shares are canceled. In addition, each year the Company’s executive officers receive performance-based awards. Three years after grant, restricted shares may be issued based upon the total return (Common Share dividends and funds from operations (“FFO”) growth per share) of the Company. One-half of any such restricted shares are then subject to vesting over an additional two-year period. The performance-based awards generally are expensed over a five-year period based upon the Company’s estimates of the number of shares expected to be awarded.
During the years ended December 31, 2002, 2001 and 2000, the Company issued 470,028awarded, net of cancellations, 885,967 shares (at a weighted average grant price of $27.22), 730,982 shares (at a weighted average grant price of $25.98) and 520,962475,862 shares (at a weighted average grant price of $21.40), respectively, for both the restricted shares. Theand performance-based awards generally vest over a five-year period.share plans. For the three years ended December 31, 2002, 2001 and 2000, the Company recorded as compensation expense $15.2 million, $8.0 million and $6.7 million, respectively, as general and administrative expenses and $9.6 million, $8.9 million and $7.4 million, respectively, as property management expenses related to all restricted and performance-based share plans. The Company has elected to apply the provisions of Accounting Principles Board ("APB") OpinionAPB No. 25Accounting for Stock Issued to Employees ("APB No. 25"), in the computation of compensation expense. Under APB No. 25's25’s intrinsic value method, compensation expense is determined by computing the excess of the market price of the shares over the exercise price on the measurement date. For the Company'sCompany’s share options, the intrinsic value on the measurement date (or grant date) is zero, and no compensation expense is recognized. For the Company'sCompany’s restricted shares, the Company determines the intrinsic value on the measurement date and accordingly recognizes a compensation expense for such shares. SFAS No. 123Accounting for Stock-Based Compensation ("Statement No. 123"), requires the Company to disclose pro forma net income and income per share as if a fair value based accounting method had been used in the computation of compensation expense. The fair value of the options computed under StatementSFAS No. 123 would be recognized over the vesting period of the options. The fair value for the Company's optionsCompany’s Options was estimated at the time the optionsOptions were granted using the Black Scholes option pricing model with the following weighted-average assumptions for 2002, 2001 and 2000, and 1999, respectively: average risk-free interest rates of 4.43%4.55%, 6.22%4.43% and 5.84%6.22%; dividend yields of 6.17%6.46%, 6.83%6.17% and 6.89%6.83%; volatility factors of the expected market price of the Company'sCompany’s Common Shares of 0.208, 0.204 0.207 and 0.209;0.207; and a weighted-average expected life of the optionsOptions of seven years. The Black-Scholes option valuation model was developed for use in estimating the fair value of traded options that have no vesting restrictions and are fully transferable. In addition, option valuation models require the input of highly subjective assumptions including the expected stock price volatility. Because the Company'sCompany’s Options have characteristics significantly different from those of traded options, and because changes in the subjective input assumptions can materially affect the fair value estimate, in management'smanagement’s opinion, the existing models do not necessarily provide a reliable single measure of the fair value of its Options. F-38
F-34
For purposes of pro forma disclosures, the estimated fair value of the Options is amortized to expense over the Options'Options’ vesting period. The following is the pro forma information for the three years ended December 31, 2002, 2001 2000 and 1999:2000:
| | 2001
| | 2000
| | 1999
|
---|
Pro forma net income available to Common Shares | | $ | 361,337 | | $ | 429,350 | | $ | 271,114 | Pro forma net income per weighted average Common Share outstanding—basic | | $ | 1.35 | | $ | 1.66 | | $ | 1.11 |
| | 2002 | | 2001 | | 2000 | | Pro forma net income available to Common Shares | | $ | 318,018 | | $ | 361,985 | | $ | 430,479 | | Pro forma net income per weighted average Common Share outstanding – basic | | $ | 1.17 | | $ | 1.35 | | $ | 1.66 | |
The table below summarizes the Option activity of the Fifth Amended Option and Award Plan and options assumed in connection with Mergersmergers (the "Merger Options"“Merger Options”) for the three years ended December 31, 2002, 2001 2000 and 1999:2000:
| | Common Shares Subject to Options or Awards
| | Weighted Average Exercise Price Per Common Share
|
---|
Balance at December 31, 1998 | | 12,527,829 | | $ | 20.25 | Options granted | | 2,980,156 | | $ | 20.34 | Merger Options (assumed) | | 78,240 | | $ | 19.47 | Options exercised | | (1,151,730 | ) | $ | 14.44 | Merger Options exercised | | (874,654 | ) | $ | 19.10 | Options canceled | | (785,255 | ) | $ | 22.90 | Merger Options canceled | | (286,738 | ) | $ | 20.71 | | |
| |
| Balance at December 31, 1999 | | 12,487,848 | | $ | 20.70 | Options granted | | 2,172,582 | | $ | 21.22 | Options exercised | | (1,164,624 | ) | $ | 17.48 | Merger Options exercised | | (205,562 | ) | $ | 17.67 | Options canceled | | (587,767 | ) | $ | 21.28 | Merger Options canceled | | (27,648 | ) | $ | 18.79 | | |
| |
| Balance at December 31, 2000 | | 12,674,829 | | $ | 21.11 | Options granted | | 2,844,838 | | $ | 26.48 | Options exercised | | (3,125,870 | ) | $ | 20.31 | Merger Options exercised | | (57,660 | ) | $ | 15.26 | Options canceled | | (167,916 | ) | $ | 22.55 | Merger Options canceled | | (1,622 | ) | $ | 20.17 | | |
| |
| Balance at December 31, 2001 | | 12,166,599 | | $ | 22.59 | | |
| |
|
| | Common Shares Subject to Options or Awards | | Weighted Average Exercise Price Per Common Share | | Balance at December 31, 1999 | | 12,487,848 | | $ | 20.70 | | Options granted | | 2,172,582 | | $ | 21.22 | | Options exercised | | (1,164,624 | ) | $ | 17.48 | | Merger Options exercised | | (205,562 | ) | $ | 17.67 | | Options canceled | | (588,017 | ) | $ | 21.28 | | Merger Options canceled | | (27,648 | ) | $ | 18.79 | | Balance at December 31, 2000 | | 12,674,579 | | $ | 21.11 | | Options granted | | 2,844,838 | | $ | 26.48 | | Options exercised | | (3,125,870 | ) | $ | 20.31 | | Merger Options exercised | | (57,660 | ) | $ | 15.26 | | Options canceled | | (167,916 | ) | $ | 22.55 | | Merger Options canceled | | (1,622 | ) | $ | 20.17 | | Balance at December 31, 2001 | | 12,166,349 | | $ | 22.59 | | Options granted | | 2,261,720 | | $ | 27.24 | | Options exercised | | (1,425,494 | ) | $ | 20.36 | | Merger Options exercised | | (13,621 | ) | $ | 19.66 | | Options canceled | | (177,736 | ) | $ | 24.90 | | Balance at December 31, 2002 | | 12,811,218 | | $ | 23.63 | |
As of December 31, 2002, 2001 and 2000, and 1999, 7,295,314 shares8,252,203 Options (with a weighted average exercise price $22.25), 7,291,897 Options (with a weighted average exercise price of $21.62), and 7,897,038 sharesOptions (with a weighted average exercise price of $20.76) and 6,313,751 shares (with a weighted average exercise price of $19.18) were exercisable, respectively. Exercise prices for Options outstanding as of December 31, 20012002 ranged from $13.00 to $27.60$29.00 for the Fifth Amended Option and Award Plan and $2.76$9.55 to $24.84$24.30 for the Merger Options. 16. Employee Plans
On May 15, 2002, the shareholders of EQR approved the Company’s 2002 Share Incentive Plan. The Company has initially reserved 23,125,828 Common Shares for issuance under this plan, which is subject to adjustment each January 1 of the plan’s existence. No awards may be granted under the 2002 Share Incentive Plan after February 20, 2012. No awards were granted under this plan during 2002. F-35
18. Employee Plans The Company established an Employee Share Purchase Plan whereby(the “ESPP”) to provide employees and trustees and employees of the Company mayability to annually acquire up to $100,000 of Common Shares of the Company. The aggregate number of Common Shares available under the Employee Share Purchase PlanESPP shall not exceed 2,000,000, subject to adjustment by the Board of Trustees. The Common Shares may be F-39
purchased quarterly at a price equal to 85% of the lesser of: (a) the closing price for a share on the last day of such quarter; and (b) the greater of: (i) the closing price for a share on the first day of such quarter, and (ii) the average closing price for a share for all the business days in the quarter. During 2002, the Company issued 324,238 Common Shares at net prices that ranged from $21.65 per share to $24.43 per share and received proceeds of approximately $7.4 million. During 2001, the Company issued 310,261 Common Shares at net prices that ranged from $21.76 per share to $23.69 per share and raisedreceived proceeds of approximately $6.9 million in connection therewith.million. During 2000, the Company issued 299,580 Common Shares at net prices that ranged from $17.06 per share to $20.51 per share and raisedreceived proceeds of approximately $5.4 million in connection therewith. During 1999, the Company issued 295,770 Common Shares at net prices that ranged from $17.19 per share to $18.36 per share and raised approximately $5.2 million in connection therewith.million. The Company has established a defined contribution plan (the "401(k) Plan"“401(k) Plan”) that providesto provide retirement benefits for employees that meet minimum employment criteria. The Company contributes 100% of the first 4% of eligible compensation that a participant contributes to the 401(k) Plan. Participants are vested in the Company'sCompany’s contributions over five years. The Company made contributions in the amount of $2.3$3.1 million and $2.3 million for the years ended December 31, 19992001 and 2000, respectively, and expects to make contributions in the amount of approximately $3.4$3.9 million for the year ended December 31, 2001.2002. The Company may also elect to make an annual discretionary profit-sharing contribution as a percentage of each individual employee’s eligible compensation under the 401(k) Plan. The Company made contributions in the amount of $2.6 million and $3.2 million for the years ended December 31, 2001 and 2000, respectively, and will not make a contribution for the year ended December 31, 2002. The Company established a supplemental executive retirement savings plan (the “SERP”) to provide certain officers and trustees an opportunity to defer a portion of their eligible compensation in order to save for retirement and for the education of their children. The SERP is restricted to investments in Company Common Shares, certain marketable securities that have been specifically approved, and cash equivalents. The deferred compensation liability represented in the SERP and the securities issued to fund such deferred compensation liability are consolidated by the Company and carried on the Company’s balance sheet, and the Company’s Common Shares held in the SERP are accounted for as a reduction to paid in capital. 17.19. Distribution Reinvestment and Share Purchase Plan
On November 3, 1997, the Company filed with the SEC a Form S-3 Registration Statement to register 14,000,000 Common Shares pursuant to a Distribution Reinvestment and Share Purchase Plan (the "DRIP Plan"“DRIP Plan”). The registration statement was declared effective on November 25, 1997. The DRIP Plan of the Company provides holders of record and beneficial owners of Common Shares and Preferred Shares and limited partnership interests in the Operating Partnership with a simple and convenient method of investing cash distributions in additional Common Shares (which is referred to herein as the "Dividend Reinvestment—“Dividend Reinvestment – DRIP Plan"Plan”). Common Shares may also be purchased on a monthly basis with optional cash payments made by participants in the DRIP Plan and interested new investors, not currently shareholders of the Company, at the market price of the Common Shares less a discount ranging between 0% and 5%, as determined in accordance with the DRIP Plan (which is referred to herein as the "Share Purchase—“Share Purchase – DRIP Plan"Plan”). Common Shares purchased under the DRIP Plan may, at the option of the Company, be directly issued by the Company or purchased by the Company’s transfer agent in the open market using participants’ funds. F-36
18.
20. Transactions with Related Parties
Certain officers of the Company purchased Common Shares in prior years which were financed with loans made by the Company at various rates ranging from 6.15% to 7.93% per annum and at one month LIBOR plus 2.0% per annum. Scheduled maturities arewere at various dates through 2005. These employee notes were repaid in full during 2002. The amountsamount outstanding at December 31, 2001 and 2000 arewas $4.0 million and $4.3 million, respectively.million. The Company also entered into executive compensation, deferred compensation and share distribution agreements with certain officers of the Company that resulted in the Company recognizing compensation expense of $3.7 million, $0.9 million and $1.1 million for the years ended December 31, 2001, 2000 and 1999, respectively. In connection with certain Mergers,mergers, the Company agreed to make consulting payments to certain individuals who had been employees of the companies acquired and who became trustees of the Company subsequent to the applicable merger dates. During the years ended December 31, 2002, 2001 2000 and 1999,2000, the Company made payments pursuant to these agreements of $400,000,$166,667, $400,000 and $625,000,$400,000, respectively. TheThere are no remaining future payments to be made under these agreements as of December 31, 2001 are approximately $167,000.2002. F-40
The Company occupies office space at various office buildings that are owned and/or managed by Equity Office Properties Trust, a company of which EQR's chairmanEQR’s Chairman of the boardBoard of Trustees is also chairmanChairman of the board.Board. Amounts incurred for such office space for the years ended December 31, 2002, 2001 2000 and 1999,2000, respectively, were $1,763,946, $1,935,013 $1,781,069 and $1,466,569.$1,686,030. Artery Property Management, Inc., a real estate property management company ("APMI") in which a trustee of the Company is a two-thirds owner and chairman of the board of directors, provided the Company consulting services with regard to property acquisitions and additional business opportunities. In connection with the acquisition of certain Properties from this trustee and his affiliates during 1995, the Company made a loan to this trustee and APMI of $15,212,000 evidenced by two notes and secured by 931,090 OP Units. At December 31, 2000, no amounts were outstanding under these notes and all OP Units were released from their pledges. During 1999, the Company acquired eight Properties and the related management agreements from affiliates of the aforementioned trustee for an aggregate purchase price of approximately $110.2 million, including the assumption of approximately $44.3 million of mortgage indebtedness. The purchase price also included the issuance of 28,795 Series A Junior Convertible Preference Units in the Operating Partnership, which have a liquidation value of $100 per unit and are exchangeable for OP Units under certain circumstances. On June 29, 1999, this trustee received 8,462 of these units with a liquidation value of approximately $0.8 million.
The Company paid legal fees to a law firm of which one of the Company'sCompany’s former trustees (individual was a trustee through May 15, 2002) is a partner in the amounts of $0.3 million, $1.7 million $3.6 million and $1.6$3.6 million for the years ended December 31, 2002, 2001 2000 and 1999,2000, respectively. In addition, the Company has provided acquisition, asset and property management services to certain related entities for properties not owned by the Company. Fees received for providing such services were approximately $0.7 million, $0.8 million $1.7 million and $2.5$1.7 million for the years ended December 31, 2002, 2001 2000 and 1999,2000, respectively. 19.21. Commitments and Contingencies
The Company, as an owner of real estate, is subject to various environmental laws of Federal, state and local governments.environmental laws. Compliance by the Company with existing laws has not had a material adverse effect on the Company'sCompany’s financial condition and results of operations. However, the Company cannot predict the impact of new or changed laws or regulations on its current Propertiesproperties or on properties that it may acquire in the future. The Company does not believe there is any litigation threatened against the Company other than routine litigation arising out of the ordinary course of business, some of which is expected to be covered by liability insurance, none of which is expected to have a material adverse effect on the consolidated financial statements of the Company. In regards to As of December 31, 2002, the fundingCompany has 18 projects in various stages of Properties in the development and/or earnout stage and the joint venture agreements with multifamily residential real estate developers, theestimated completion dates ranging through June 30, 2004. The Company funded a net total of $174.6$62.8 million during the year ended December 31, 2001.2002 for the development of multifamily properties pursuant to its agreements with developers. The Company expects to fund approximately $33.5$3.8 million in connection with these Propertiesproperties beyond 2001. In connection with one joint venture agreement,2002. The three development agreements currently in place have the Company has an obligation to fund up to an additional $6.5 million to guarantee third party construction financing. As of December 31, 2001, following key terms:
•the Company has 22 projects underfirst development with estimated completion dates ranging from March 31, 2002 through December 31, 2003. F-41
For one joint venture agreement, the Company's joint venture partner has the right, at any time following completion of a project, to stipulate a value for such project and offer to sell its interest in the project to the Company based on such value. If the Company chooses not to purchase the interest, it must agree to a sale of the project to an unrelated third party at such value. The Company's joint ventureCompany’s partner must
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exercise this right as to all projects within five years after the receipt of the final certificate of occupancy on the last developed property. The Company has an obligation to fund up to an additional $13.0 million to guarantee third party construction financing, if required. For
• the second joint venture agreement, the Company's joint venturedevelopment partner has the right, at any time following completion of a project, to require the Company to purchase the joint venture partners'partners’ interest in that project at a mutually agreeable price. If the Company and the joint venture partner are unable to agree on a price, both parties will obtain appraisals. If the appraised values vary by more than 10%, both the Company and the joint ventureits partner will agree on a third appraiser to determine which original appraisal is closest to its determination of value. The Company may elect at that time not to purchase the property and instead, authorize the joint ventureits partner to sell the project at or above the agreed-upon value to an unrelated third party. Five years following the receipt of the final certificate of occupancy on the last developed property, any projects remaining unsold must be purchased by the Company at the agreed-upon price.
• the third development partner has the exclusive right for six months following stabilization (generally defined as having achieved 90% occupancy for three consecutive months following the substantial completion of a project) to market a project for sale. Thereafter, either the Company or its development partner may market a project for sale. If the Company’s development partner proposes the sale, the Company may elect to purchase the project at the price proposed by its partner or defer the sale until two independent appraisers appraise the project. If the two appraised values vary by more than 5%, a third appraiser will be chosen to determine the fair market value of the property. Once a value has been determined, the Company may elect to purchase the property or authorize its development partner to sell the project at the agreed-upon value.
In connection with the Wellsford Merger,one of its mergers, the Company provided a credit enhancement with respect to certain tax-exempt bonds issued to finance certain public improvements at a multifamily development project. As of December 31, 2001,2002, this enhancement was still in effect at a commitment amount of $12.7 million.
During the years ended December 31, 2002, 2001 and 2000, and 1999, total operating lease payments incurred for office space, including a portion of real estate taxes, insurance, repairs and utilities, aggregated $4,709,363, $4,929,018 $4,074,672 and $3,271,513$4,074,672 respectively.
The minimum basic aggregate rental commitment under the Company'sCompany’s operating leases in years following December 31, 20012002 is as follows: Year
| | Amount
|
---|
2002 | | $ | 7,674,793 | 2003 | | | 6,905,471 | 2004 | | | 5,060,667 | 2005 | | | 3,839,367 | 2006 | | | 2,498,409 | Thereafter | | | 8,776,436 | | |
| Total | | $ | 34,755,143 | | |
|
20. Asset Impairment
Year | | Amount | | 2003 | | $ | 5,362,814 | | 2004 | | 4,727,298 | | 2005 | | 3,495,552 | | 2006 | | 2,416,862 | | 2007 | | 1,893,301 | | Thereafter | | 6,651,059 | | Total | | $ | 24,546,886 | |
ForThe Company has entered into a retirement benefits agreement with its Chairman of the yearBoard of Trustees and deferred compensation agreements with two of its executive officers and its former Chief Executive Officer and current Vice Chairman of the Board of Trustees. During the years ended December 31, 2002, 2001, and 2000, the Company recorded $60.0recognized compensation expense of $5.1 million, of asset impairment charges$3.7 million and $0.9 million, respectively, related to its Globe furniture rental business. These charges were the result of a review of the existing intangible and tangible assets reflectedthese agreements. The projected commitment under these agreements based on the consolidated balance sheet as of September 30, 2001. The impairment loss is reflected on the statement of operations in total expenses and includes the write-down of the following assets: a) goodwill of approximately $26.0 million; b) rental furniture, net of approximately $28.6 million; c) property and equipment, net of approximately $4.5 million; and d) other assets of approximately $0.9 million.estimated retirement dates are:
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F-38
Year | | Amount | | 2003 | | $ | 820,000 | | 2004 | | 1,353,000 | | 2005 | | 1,386,825 | | 2006 | | 1,421,496 | | 2007 | | 2,225,783 | | Thereafter | | 28,166,957 | | Total | | $ | 35,374,061 | |
22. Asset Impairment For the years ended December 31, 2002, 2001 and 2000, the Company recorded approximately $1.2 million, $11.8 million and $1.0 million, respectively, of asset impairment charges related to its technology investments. These charges were the result of a review of the existing investments reflected on the consolidated balance sheet. The Company reviewed the current relative value of each investment based on existing economic conditions and current events. These impairment losses are reflected on the statementconsolidated statements of operations in total expenses and include the write-down of assets classified as other assets and investments in unconsolidated entities. For the year ended December 31, 2002, the Company recorded approximately $17.1 million of asset impairment charges related to ECH. Following the guidance in SFAS No. 142, these charges were the result of the Company’s decision to reduce the carrying value of ECH to $30.0 million, given the continued weakness in the economy and management’s expectations for near-term performance, and were determined based upon a discounted cash flow analysis of the business. This impairment loss is reflected on the consolidated statements of operations as impairment on corporate housing business and on the consolidated balance sheets as a reduction in goodwill, net.
21.23. Reportable Segments
Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by senior management. Senior management decides how resources are allocated and assesses performance on a monthly basis. The Company'sCompany’s primary business is owning, managing, and operating multifamily residential properties, which includes the generation of rental and other related income through the leasing of apartment units to residents.residents and includes ECH. Senior management evaluates the performance of each of our apartment communities on an individual basis, however, each of our apartment communities has similar economic characteristics, residents, and products and services so they have been aggregated into one reportable segment. The Company'sCompany’s rental real estate segment comprises approximately 95.6%98.8%, 96.3%98.1% and 98.2%97.8% of total revenues for the years ended December 31, 2002, 2001 2000 and 1999,2000, respectively. The Company'sCompany’s rental real estate segment comprises approximately 99.8%99.7% and 98.7%99.4% of total assets at December 31, 20012002 and 2000,2001, respectively. The primary financial measure for the Company'sCompany’s rental real estate segment is net operating income ("NOI"(“NOI”), which represents rental income less: 1) property and maintenance expense; 2) real estate taxes and insurance expense; and 3) property management expense (all as reflected in the accompanying statements of operations). Current year NOI is compared to prior year NOI and current year budgeted NOI as a measure of financial performance. NOI from our rental real estate totaled approximately $1.3 billion, $1.2 billion and $1.1 billion$1.2billion for each of the three years ended December 31, 2002, 2001 2000 and 1999, respectively.2000. During the acquisition, development and/or disposition of real estate, the Company considers its NOI return on total capitalized costs isinvestment as the primary measure of financial performance (capitalization rate) the Company considers.performance. F-39
The Company'sCompany’s fee and asset management activity and furniture rental/sales activities areis immaterial and dodoes not meet the threshold requirements of a reportable segment as provided for in SFAS No. 131. All revenues are from external customers and there is no customer who contributed 10% or more of the Company’s total revenues during the three years ended December 31, 2002, 2001 or 2000. 22.24. Subsequent EventsEvents/Other
During the year ended December 31, 2002, the Company entered into an agreement with the U.S. Army with an initial cash investment of $10.0 million and assumed management of 3,652 multifamily units at Fort Lewis, Washington. Subsequent to December 31, 20012002 and through February 5, 2002,3, 2003, the Company: • disposed of four Properties acquired one property consisting of 466226 units for approximately $15.5$41.0 million;
• - disposed of
its furniture rental businessfive properties consisting of 1,011 units for approximately $30.0$57.4 million;
• - refinanced the mortgage debt on eleven Partially Owned Properties and received additional cash proceeds of approximately $2.4 million; and
•repaid $1.9$44.9 million of mortgage debt at/or prior to maturity on two Properties; and
•repaid $100.0 million of 9.375% fixed rate public notes at maturity.
23.25. Quarterly Financial Data (Unaudited)
The following unaudited quarterly data has been prepared on the basis of a December 31 year-end. All per share and weighted average Common SharesShare outstanding amounts have been restated as a result of the Company'sCompany’s two-for-one split of its Common Shares. All amounts have also been restated in accordance with the discontinued operations provisions of SFAS No 144. Amounts are in thousands, except for per share amounts. F-43
2002 | | First Quarter 3/31 | | Second Quarter 6/30 | | Third Quarter 9/30 | | Fourth Quarter 12/31 | | Total revenues | | $ | 498,838 | | $ | 502,732 | | $ | 499,575 | | $ | 492,908 | | | | | | | | | | | | Net gain on sales of discontinued operations | | $ | 2,816 | | $ | 25,630 | | $ | 32,763 | | $ | 43,087 | | | | | | | | | | | | Discontinued operations, net | | $ | 6,853 | | $ | 5,049 | | $ | 2,823 | | $ | 1,552 | | | | | | | | | | | | Income before extraordinary items and cumulative effect of change in accounting principle | | $ | 100,975 | | $ | 113,668 | | $ | 88,661 | | $ | 118,801 | | | | | | | | | | | | Net income | | $ | 100,878 | | $ | 113,297 | | $ | 88,661 | | $ | 118,477 | | | | | | | | | | | | Net income available to Common Shares | | $ | 76,353 | | $ | 89,041 | | $ | 64,473 | | $ | 94,295 | | | | | | | | | | | | Net income per share – basic | | $ | 0.28 | | $ | 0.33 | | $ | 0.24 | | $ | 0.35 | | | | | | | | | | | | Net income per share – diluted | | $ | 0.28 | | $ | 0.32 | | $ | 0.23 | | $ | 0.35 | | | | | | | | | | | | Weighted average Common Shares Outstanding – basic | | 271,094 | | 273,146 | | 273,943 | | 269,706 | |
F-40
2001 | | First Quarter 3/31 | | Second Quarter 6/30 | | Third Quarter 9/30 | | Fourth Quarter 12/31 | | Total revenues | | $ | 504,720 | | $ | 510,659 | | $ | 518,627 | | $ | 505,743 | | | | | | | | | | | | Net gain on sales of discontinued operations | | $ | 41,778 | | $ | 4,448 | | $ | 53,567 | | $ | 49,113 | | | | | | | | | | | | Discontinued operations, net | | $ | 6,472 | | $ | 5,855 | | $ | (53,781 | ) | $ | 4,758 | | | | | | | | | | | | Income before extraordinary items and cumulative effect of change in accounting principle | | $ | 136,239 | | $ | 103,136 | | $ | 93,979 | | $ | 141,057 | | | | | | | | | | | | Net income | | $ | 135,280 | | $ | 102,931 | | $ | 93,851 | | $ | 141,523 | | | | | | | | | | | | Net income available to Common Shares | | $ | 106,754 | | $ | 74,038 | | $ | 69,511 | | $ | 117,163 | | | | | | | | | | | | Net income per share – basic | | $ | 0.40 | | $ | 0.28 | | $ | 0.26 | | $ | 0.43 | | | | | | | | | | | | Net income per share – diluted | | $ | 0.40 | | $ | 0.27 | | $ | 0.26 | | $ | 0.43 | | | | | | | | | | | | Weighted average Common Shares Outstanding – basic | | 265,198 | | 266,357 | | 268,253 | | 269,529 | |
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2001
| | First Quarter 3/31
| | Second Quarter 6/30
| | Third Quarter 9/30
| | Fourth Quarter 12/31
|
---|
Total revenues ** | | $ | 538,251 | | $ | 544,861 | | $ | 552,961 | | $ | 538,342 | | |
| |
| |
| |
| Income before extraordinary items and cumulative effect of change in accounting principle | | $ | 136,239 | | $ | 103,136 | | $ | 93,979 | | $ | 141,057 | | |
| |
| |
| |
| Net income | | $ | 135,280 | | $ | 102,931 | | $ | 93,851 | | $ | 141,523 | | |
| |
| |
| |
| Net income available to Common Shares | | $ | 106,754 | | $ | 74,038 | | $ | 69,511 | | $ | 117,163 | | |
| |
| |
| |
| Net income per share—basic | | $ | 0.40 | | $ | 0.28 | | $ | 0.26 | | $ | 0.43 | | |
| |
| |
| |
| Net income per share—diluted | | $ | 0.40 | | $ | 0.27 | | $ | 0.26 | | $ | 0.43 | | |
| |
| |
| |
| Weighted average Common Shares Outstanding—basic | | | 265,198 | | | 266,358 | | | 268,253 | | | 269,529 | | |
| |
| |
| |
|
2000
| | First Quarter 3/31
| | Second Quarter 6/30
| | Third Quarter 9/30
| | Fourth Quarter 12/31
|
---|
Total revenues ** | | $ | 481,853 | | $ | 488,806 | | $ | 532,394 | | $ | 529,596 | | |
| |
| |
| |
| Income before extraordinary items and cumulative effect of change in accounting principle* | | $ | 101,139 | | $ | 152,659 | | $ | 169,316 | | $ | 131,929 | | |
| |
| |
| |
| Net income* | | $ | 101,139 | | $ | 152,659 | | $ | 169,316 | | $ | 126,337 | | |
| |
| |
| |
| Net income available to Common Shares * | | $ | 72,751 | | $ | 125,393 | | $ | 141,373 | | $ | 97,993 | | |
| |
| |
| |
| Net income per share—basic * | | $ | 0.28 | | $ | 0.49 | | $ | 0.54 | | $ | 0.37 | | |
| |
| |
| |
| Net income per share—diluted * | | $ | 0.28 | | $ | 0.48 | | $ | 0.53 | | $ | 0.37 | | |
| |
| |
| |
| Weighted average Common Shares Outstanding—basic | | | 255,597 | | | 258,144 | | | 262,825 | | | 262,644 | | |
| |
| |
| |
|
*For the quarter ended September 30, 2000, Income before extraordinary items and cumulative effect of change in accounting principle, Net income, Net income available to Common Shares, Net income per share—basic, and Net income per share—diluted have been adjusted to reflect the correction of the amounts previously reported on the Company's quarterly report on Form 10-Q for the quarter ended September 30, 2000 related to the gain on disposition of properties, net. The amounts for Income before extraordinary items and cumulative effect of change in accounting principle, Net income, Net income available to Common Shares, Net income per share—basic, and Net income per share—diluted for the quarter ended September 30, 2000 have been reduced by $36,659, $36,659, $36,659, $0.135, and $0.135, respectively.
**Includes income from investments in unconsolidated entities.
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EQUITY RESIDENTIAL PROPERTIES TRUST
Schedule III —- Real Estate and Accumulated Depreciation
December 31, 20012002 Description | | | | Initial Cost to Company | | Cost Capitalized Subsequent to Acquisition (Improvements, net)(E) | | Apartment Name | | Location | | Encumbrances | | Land | | Building & Fixtures | | Land | | Building & Fixtures | | 2300 Elliott | | Seattle, WA | | $ | — | | $ | 796,800.00 | | $ | 7,173,725.29 | | $ | — | | $ | 4,250,487.67 | | 2900 on First | | Seattle, WA(G) | | — | | 1,177,700.00 | | 10,600,359.93 | | — | | 2,613,785.47 | | 740 River Drive | | St. Paul, MN | | 6,086,347.60 | | 1,626,700.00 | | 11,234,942.51 | | — | | 2,076,829.64 | | 929 House | | Cambridge, MA(G) | | 4,782,524.96 | | 3,252,993.36 | | 21,745,594.74 | | — | | 802,719.01 | | Abington Glen | | Abington, MA | | — | | 553,105.38 | | 3,697,396.23 | | — | | 153,221.08 | | Acacia Creek | | Scottsdale, AZ | | | (Q) | 6,121,856.00 | | 35,380,171.95 | | — | | 1,338,852.05 | | Acadia Court | | Bloomington, IN | | 1,998,470.48 | | 257,483.69 | | 2,268,652.90 | | — | | 335,302.16 | | Acadia Court II | | Bloomington, IN | | — | | 253,635.67 | | 2,234,631.66 | | — | | 198,754.43 | | Adams Farm | | Greensboro, NC | | — | | 2,350,000.00 | | 30,073,196.71 | | — | | 825,958.25 | | Adelaide Park | | Norcross, GA | | — | | 2,546,500.00 | | 11,009,665.73 | | — | | 1,071,825.44 | | Alborada | | Fremont, CA | | — | | 24,310,000.00 | | 59,214,128.76 | | — | | 386,802.08 | | Altamonte | | San Antonio, TX | | | (M) | 1,665,070.00 | | 14,986,473.86 | | — | | 1,693,189.16 | | Ambergate (FL) | | W. Palm Beach, FL | | — | | 730,000.00 | | 1,687,743.10 | | — | | 129,334.69 | | Amberidge | | Roseville, MI | | — | | 130,844.19 | | 1,152,879.92 | | — | | 116,827.32 | | Amberton | | Manassas, VA | | 10,705,000.00 | | 900,600.00 | | 9,072,491.96 | | — | | 936,439.67 | | Amberwood (OH) | | Massillon, OH | | 859,244.95 | | 126,226.92 | | 1,112,288.75 | | — | | 163,667.78 | | Amberwood I (FL) | | Lake City, FL | | — | | 101,744.04 | | 896,376.92 | | — | | 44,297.95 | | Amesbury I | | Reynoldsbury, OH | | 1,194,940.00 | | 143,039.49 | | 1,260,232.82 | | — | | 183,660.58 | | Amesbury II | | Reynoldsbury, OH | | — | | 180,588.07 | | 1,591,228.65 | | — | | 146,873.46 | | Amhurst (Tol) | | Toledo, OH | | — | | 161,853.71 | | 1,426,107.57 | | — | | 61,379.53 | | Amhurst I (OH) | | Dayton, OH | | — | | 152,573.92 | | 1,344,352.53 | | — | | 207,107.06 | | Amhurst II (OH) | | Dayton, OH | | — | | 159,416.42 | | 1,404,632.41 | | — | | 129,643.14 | | Andover Court | | Mt. Vernon, OH | | — | | 123,874.81 | | 1,091,272.11 | | — | | 176,925.52 | | Annhurst (IN) | | Indianapolis, IN | | 1,223,953.17 | | 189,235.25 | | 1,667,468.73 | | — | | 173,749.91 | | Annhurst (MD) (REIT) | | Belcamp, MD | | 1,272,107.07 | | 232,575.00 | | 2,093,165.14 | | — | | 57,534.23 | | Annhurst (PA) | | Clairton, PA | | — | | 307,952.45 | | 2,713,396.72 | | — | | 243,347.15 | | Annhurst II (OH) | | Gahanna, OH | | — | | 116,738.63 | | 1,028,594.58 | | — | | 177,105.63 | | Annhurst III (OH) | | Gahanna, OH | | — | | 134,788.03 | | 1,187,629.47 | | — | | 120,624.45 | | Apple Ridge I | | Circleville, OH | | 1,008,377.00 | | 139,299.72 | | 1,227,582.35 | | — | | 88,331.83 | | Apple Ridge III | | Circleville, OH | | — | | 72,585.34 | | 639,355.94 | | — | | 42,922.53 | | Applegate (Col) | | Columbus, IN | | — | | 171,829.10 | | 1,514,001.64 | | — | | 84,541.06 | | Applegate I (IN) | | Muncie, IN | | 890,746.58 | | 138,505.63 | | 1,220,385.53 | | — | | 147,750.12 | | Applegate II (IN) | | Muncie, IN | | 1,202,296.00 | | 180,016.68 | | 1,586,143.14 | | — | | 108,887.98 | | Applewood I | | Deland, FL | | 2,094,714.04 | | 235,230.48 | | 2,072,993.86 | | — | | 344,077.49 | | Aragon Woods | | Indianapolis, IN | | 1,045,311.20 | | 157,790.97 | | 1,390,010.45 | | — | | 78,880.93 | | Arbor Glen | | Ypsilanti, MI | | 6,728,128.28 | | 1,096,064.41 | | 9,887,635.23 | | — | | 1,014,089.98 | | Arbor Terrace | | Sunnyvale, CA | | | (R) | 9,057,300.00 | | 18,483,641.96 | | — | | 581,361.73 | | Arboretum (GA) | | Atlanta, GA | | — | | 4,682,300.00 | | 15,913,018.18 | | — | | 1,069,438.67 | | Arboretum (MA) | | Canton, MA | | | (M) | 4,685,900.00 | | 10,992,750.95 | | — | | 471,639.42 | | Arbors at Century Center | | Memphis, TN | | — | | 2,521,700.00 | | 15,236,996.38 | | — | | 1,029,202.11 | | Arbors of Brentwood | | Nashville, TN | | | (K) | 404,670.00 | | 13,536,366.74 | | — | | 2,008,645.13 | | Arbors of Hickory Hollow | | Antioch, TN | | | (K) | 202,985.00 | | 6,937,208.87 | | — | | 2,482,906.83 | | Arbors of Las Colinas | | Irving, TX | | — | | 1,663,900.00 | | 14,977,079.82 | | — | | 2,157,307.09 | | Ashford Hill | | Reynoldsbury, OH | | 1,355,118.97 | | 184,985.30 | | 1,630,021.10 | | — | | 244,740.57 | | Ashgrove (IN) | | Indianapolis, IN | | — | | 172,923.97 | | 1,523,548.66 | | — | | 74,875.12 | | Ashgrove (KY) | | Louisville, KY | | — | | 171,815.79 | | 1,514,034.38 | | — | | 144,030.23 | | Ashgrove (OH) | | Franklin, OH | | 1,213,725.61 | | 157,534.56 | | 1,387,687.13 | | — | | 175,625.40 | | Ashgrove I (MI) | | Sterling Hts, MI | | 3,136,409.61 | | 403,579.77 | | 3,555,987.60 | | — | | 202,314.31 | | Ashgrove II (MI) | | Sterling Hts, MI | | 2,211,948.03 | | 311,912.27 | | 2,748,287.00 | | — | | 109,006.65 | | Ashton, The | | Corona Hills, CA | | — | | 2,594,264.00 | | 33,042,397.56 | | — | | 1,418,152.00 | | Aspen Crossing | | Silver Spring, MD | | — | | 2,880,000.00 | | 8,551,377.19 | | — | | 632,503.62 | | Astorwood (REIT) | | Stuart, FL | | 1,583,878.86 | | 233,150.00 | | 2,098,338.21 | | — | | 235,673.84 | | Audubon Village | | Tampa, FL | | — | | 3,576,000.00 | | 26,121,908.57 | | — | | 750,320.60 | | Autumn Cove | | Lithonia, GA | | — | | 187,220.29 | | 1,649,514.80 | | — | | 79,520.37 | | Autumn Creek | | Cordova, TN | | — | | 1,681,900.00 | | 9,345,281.88 | | — | | 601,243.79 | | Auvers Village | | Orlando, FL | | — | | 3,840,000.00 | | 29,322,242.96 | | — | | 1,371,526.52 | | Avon Place | | Avon,CT | | | (P) | 1,788,943.42 | | 12,323,920.09 | | — | | 123,271.38 | | Balcones Club | | Austin, TX | | — | | 2,185,500.00 | | 10,119,231.65 | | — | | 1,209,702.60 | | Barrington | | Clarkston, GA | | 980,947.84 | | 144,459.10 | | 1,272,842.11 | | — | | 110,240.83 | | Bay Ridge | | San Pedro, CA | | — | | 2,401,300.00 | | 2,176,963.16 | | — | | 256,863.18 | | Bayside | | Sebring, FL | | — | | 73,462.83 | | 647,287.62 | | — | | 149,457.54 | | Bayside at the Islands | | Gilbert, AZ | | — | | 3,306,484.00 | | 15,573,006.00 | | — | | 909,776.61 | | Beach Club | | Fort Myers, FL | | — | | 2,080,000.00 | | 14,800,928.05 | | — | | 1,028,838.68 | | Bear Canyon | | Tucson, AZ | | — | | 1,660,608.00 | | 11,228,523.59 | | — | | 302,495.32 | | Beckford Place (IN) | | New Castle, IN | | 689,417.41 | | 99,045.91 | | 872,702.38 | | — | | 98,247.34 | | Beckford Place (Pla) | | The Plains, OH | | — | | 161,160.76 | | 1,420,001.96 | | — | | 90,659.41 | | Beckford Place I (OH) | | N Canton, OH | | — | | 168,425.60 | | 1,484,248.06 | | — | | 143,441.68 | | Beckford Place II (OH) | | N Canton, OH | | — | | 172,134.32 | | 1,516,690.93 | | — | | 64,764.99 | | Bel Aire I | | Miami, FL | | — | | 188,342.67 | | 1,658,995.16 | | — | | 192,869.86 | | Bel Aire II | | Miami, FL | | — | | 136,416.15 | | 1,201,075.48 | | — | | 155,596.17 | | Bell Road I & II | | Nashville, TN | | — | | 3,100,000.00 | | 1,120,214.13 | | — | | — | | Bellevue Meadows | | Bellevue, WA | | — | | 4,507,100.00 | | 12,574,814.34 | | — | | 434,767.25 | | Belmont Crossing | | Riverdale, GA | | — | | 1,580,000.00 | | 18,449,044.76 | | — | | 545,924.64 | | Belmont Landing | | Riverdale, GA | | — | | 2,120,000.00 | | 21,651,256.11 | | — | | 594,724.62 | | Beneva Place | | Sarasota, FL | | 8,700,000.00 | | 1,344,000.00 | | 9,665,446.61 | | — | | 327,464.55 | | Bermuda Cove | | Jacksonville, FL | | — | | 1,503,000.00 | | 19,561,895.89 | | — | | 762,247.76 | | Berry Pines | | Milton, FL | | — | | 154,085.80 | | 1,299,938.75 | | — | | 275,620.86 | | Bishop Park | | Winter Park, FL | | — | | 2,592,000.00 | | 17,990,435.90 | | — | | 1,638,320.09 | | Blue Swan | | San Antonio, TX | | — | | 1,425,500.00 | | 7,591,291.62 | | — | | 772,844.37 | | Blueberry Hill I | | Leesburg, FL | | — | | 140,369.75 | | 1,236,710.45 | | — | | 95,471.32 | | Boulder Creek | | Wilsonville, OR | | | (S) | 3,554,400.00 | | 11,481,773.38 | | — | | 991,702.22 | | Bourbon Square | | Palatine, IL | | 25,334,401.70 | | 3,899,744.12 | | 35,113,275.78 | | — | | 6,579,238.65 | | Bradford Apartments | | Newington, CT | | | (P) | 401,090.83 | | 2,681,210.11 | | — | | 73,778.55 | | Bramblewood | | San Jose, CA | | — | | 5,190,700.00 | | 9,659,184.34 | | — | | 304,966.87 | | | | | | | | | | | | | | | | | | | | |
Description | | Gross Amount Carried at Close of Period 12/31/02 | | Total(B) | | Accumulated Depreciation | | Date of Construction | | Life Used to Compute Depreciation in Latest Income Statement(C) | | Apartment Name | | Location | Land | | Building & Fixtures(A) | 2300 Elliott | | Seattle, WA | | $ | 796,800.00 | | $ | 11,424,212.96 | | $ | 12,221,012.96 | | $ | (3,199,765.22 | ) | 1992 | | 30 Years | | 2900 on First | | Seattle, WA(G) | | 1,177,700.00 | | 13,214,145.40 | | 14,391,845.40 | | (3,471,548.06 | ) | 1989-91 | | 30 Years | | 740 River Drive | | St. Paul, MN | | 1,626,700.00 | | 13,311,772.15 | �� | 14,938,472.15 | | (2,873,694.40 | ) | 1962 | | 30 Years | | 929 House | | Cambridge, MA(G) | | 3,252,993.36 | | 22,548,313.75 | | 25,801,307.11 | | (1,721,820.85 | ) | 1975 | | 30 Years | | Abington Glen | | Abington, MA | | 553,105.38 | | 3,850,617.31 | | 4,403,722.69 | | (327,502.79 | ) | 1968 | | 30 Years | | Acacia Creek | | Scottsdale, AZ | | 6,121,856.00 | | 36,719,024.00 | | 42,840,880.00 | | (7,155,514.61 | ) | 1988-1994 | | 30 Years | | Acadia Court | | Bloomington, IN | | 257,483.69 | | 2,603,955.06 | | 2,861,438.75 | | (358,772.94 | ) | 1985 | | 30 Years | | Acadia Court II | | Bloomington, IN | | 253,635.67 | | 2,433,386.09 | | 2,687,021.76 | | (319,030.26 | ) | 1986 | | 30 Years | | Adams Farm | | Greensboro, NC | | 2,350,000.00 | | 30,899,154.96 | | 33,249,154.96 | | (4,864,753.24 | ) | 1987 | | 30 Years | | Adelaide Park | | Norcross, GA | | 2,546,500.00 | | 12,081,491.17 | | 14,627,991.17 | | (2,221,685.67 | ) | 1972/1976 | | 30 Years | | Alborada | | Fremont, CA | | 24,310,000.00 | | 59,600,930.84 | | 83,910,930.84 | | (5,684,192.88 | ) | 1999 | | 30 Years | | Altamonte | | San Antonio, TX | | 1,665,070.00 | | 16,679,663.02 | | 18,344,733.02 | | (5,414,752.68 | ) | 1985 | | 30 Years | | Ambergate (FL) | | W. Palm Beach, FL | | 730,000.00 | | 1,817,077.79 | | 2,547,077.79 | | (177,298.63 | ) | 1987 | | 30 Years | | Amberidge | | Roseville, MI | | 130,844.19 | | 1,269,707.24 | | 1,400,551.43 | | (158,488.59 | ) | 1985 | | 30 Years | | Amberton | | Manassas, VA | | 900,600.00 | | 10,008,931.63 | | 10,909,531.63 | | (2,939,722.97 | ) | 1986 | | 30 Years | | Amberwood (OH) | | Massillon, OH | | 126,226.92 | | 1,275,956.53 | | 1,402,183.45 | | (171,479.13 | ) | 1987 | | 30 Years | | Amberwood I (FL) | | Lake City, FL | | 101,744.04 | | 940,674.87 | | 1,042,418.91 | | (122,560.90 | ) | 1981 | | 30 Years | | Amesbury I | | Reynoldsbury, OH | | 143,039.49 | | 1,443,893.40 | | 1,586,932.89 | | (188,426.32 | ) | 1986 | | 30 Years | | Amesbury II | | Reynoldsbury, OH | | 180,588.07 | | 1,738,102.11 | | 1,918,690.18 | | (223,079.02 | ) | 1987 | | 30 Years | | Amhurst (Tol) | | Toledo, OH | | 161,853.71 | | 1,487,487.10 | | 1,649,340.81 | | (184,370.40 | ) | 1983 | | 30 Years | | Amhurst I (OH) | | Dayton, OH | | 152,573.92 | | 1,551,459.59 | | 1,704,033.51 | | (224,696.30 | ) | 1979 | | 30 Years | | Amhurst II (OH) | | Dayton, OH | | 159,416.42 | | 1,534,275.55 | | 1,693,691.97 | | (202,019.27 | ) | 1981 | | 30 Years | | Andover Court | | Mt. Vernon, OH | | 123,874.81 | | 1,268,197.63 | | 1,392,072.44 | | (174,983.57 | ) | 1982 | | 30 Years | | Annhurst (IN) | | Indianapolis, IN | | 189,235.25 | | 1,841,218.64 | | 2,030,453.89 | | (261,283.77 | ) | 1985 | | 30 Years | | Annhurst (MD) (REIT) | | Belcamp, MD | | 232,575.00 | | 2,150,699.37 | | 2,383,274.37 | | (157,668.40 | ) | 1984 | | 30 Years | | Annhurst (PA) | | Clairton, PA | | 307,952.45 | | 2,956,743.87 | | 3,264,696.32 | | (380,991.41 | ) | 1984 | | 30 Years | | Annhurst II (OH) | | Gahanna, OH | | 116,738.63 | | 1,205,700.21 | | 1,322,438.84 | | (169,484.96 | ) | 1986 | | 30 Years | | Annhurst III (OH) | | Gahanna, OH | | 134,788.03 | | 1,308,253.92 | | 1,443,041.95 | | (163,402.70 | ) | 1988 | | 30 Years | | Apple Ridge I | | Circleville, OH | | 139,299.72 | | 1,315,914.18 | | 1,455,213.90 | | (172,950.52 | ) | 1987 | | 30 Years | | Apple Ridge III | | Circleville, OH | | 72,585.34 | | 682,278.47 | | 754,863.81 | | (85,210.56 | ) | 1982 | | 30 Years | | Applegate (Col) | | Columbus, IN | | 171,829.10 | | 1,598,542.70 | | 1,770,371.80 | | (205,551.29 | ) | 1982 | | 30 Years | | Applegate I (IN) | | Muncie, IN | | 138,505.63 | | 1,368,135.65 | | 1,506,641.28 | | (179,500.68 | ) | 1984 | | 30 Years | | Applegate II (IN) | | Muncie, IN | | 180,016.68 | | 1,695,031.12 | | 1,875,047.80 | | (222,384.04 | ) | 1987 | | 30 Years | | Applewood I | | Deland, FL | | 235,230.48 | | 2,417,071.35 | | 2,652,301.83 | | (389,896.19 | ) | 1982 | | 30 Years | | Aragon Woods | | Indianapolis, IN | | 157,790.97 | | 1,468,891.38 | | 1,626,682.35 | | (194,594.61 | ) | 1986 | | 30 Years | | Arbor Glen | | Ypsilanti, MI | | 1,096,064.41 | | 10,901,725.21 | | 11,997,789.62 | | (2,205,769.84 | ) | 1990 | | 30 Years | | Arbor Terrace | | Sunnyvale, CA | | 9,057,300.00 | | 19,065,003.69 | | 28,122,303.69 | | (3,092,973.51 | ) | 1979 | | 30 Years | | Arboretum (GA) | | Atlanta, GA | | 4,682,300.00 | | 16,982,456.85 | | 21,664,756.85 | | (3,467,640.20 | ) | 1970 | | 30 Years | | Arboretum (MA) | | Canton, MA | | 4,685,900.00 | | 11,464,390.37 | | 16,150,290.37 | | (1,962,091.43 | ) | 1989 | | 30 Years | | Arbors at Century Center | | Memphis, TN | | 2,521,700.00 | | 16,266,198.49 | | 18,787,898.49 | | (2,936,369.05 | ) | 1988/1990 | | 30 Years | | Arbors of Brentwood | | Nashville, TN | | 404,670.00 | | 15,545,011.87 | | 15,949,681.87 | | (5,379,764.98 | ) | 1986 | | 30 Years | | Arbors of Hickory Hollow | | Antioch, TN | | 202,985.00 | | 9,420,115.70 | | 9,623,100.70 | | (3,942,993.17 | ) | 1986 | | 30 Years | | Arbors of Las Colinas | | Irving, TX | | 1,663,900.00 | | 17,134,386.91 | | 18,798,286.91 | | (6,048,698.78 | ) | 1984/85 | | 30 Years | | Ashford Hill | | Reynoldsbury, OH | | 184,985.30 | | 1,874,761.67 | | 2,059,746.97 | | (254,218.27 | ) | 1986 | | 30 Years | | Ashgrove (IN) | | Indianapolis, IN | | 172,923.97 | | 1,598,423.78 | | 1,771,347.75 | | (200,537.94 | ) | 1983 | | 30 Years | | Ashgrove (KY) | | Louisville, KY | | 171,815.79 | | 1,658,064.61 | | 1,829,880.40 | | (203,183.59 | ) | 1984 | | 30 Years | | Ashgrove (OH) | | Franklin, OH | | 157,534.56 | | 1,563,312.53 | | 1,720,847.09 | | (202,061.81 | ) | 1983 | | 30 Years | | Ashgrove I (MI) | | Sterling Hts, MI | | 403,579.77 | | 3,758,301.91 | | 4,161,881.68 | | (470,052.98 | ) | 1985 | | 30 Years | | Ashgrove II (MI) | | Sterling Hts, MI | | 311,912.27 | | 2,857,293.65 | | 3,169,205.92 | | (346,912.07 | ) | 1987 | | 30 Years | | Ashton, The | | Corona Hills, CA | | 2,594,264.00 | | 34,460,549.56 | | 37,054,813.56 | | (6,494,487.39 | ) | 1986 | | 30 Years | | Aspen Crossing | | Silver Spring, MD | | 2,880,000.00 | | 9,183,880.81 | | 12,063,880.81 | | (1,471,940.01 | ) | 1979 | | 30 Years | | Astorwood (REIT) | | Stuart, FL | | 233,150.00 | | 2,334,012.05 | | 2,567,162.05 | | (167,248.89 | ) | 1983 | | 30 Years | | Audubon Village | | Tampa, FL | | 3,576,000.00 | | 26,872,229.17 | | 30,448,229.17 | | (4,338,974.79 | ) | 1990 | | 30 Years | | Autumn Cove | | Lithonia, GA | | 187,220.29 | | 1,729,035.17 | | 1,916,255.46 | | (210,969.49 | ) | 1985 | | 30 Years | | Autumn Creek | | Cordova, TN | | 1,681,900.00 | | 9,946,525.67 | | 11,628,425.67 | | (2,056,589.27 | ) | 1991 | | 30 Years | | Auvers Village | | Orlando, FL | | 3,840,000.00 | | 30,693,769.48 | | 34,533,769.48 | | (4,832,635.72 | ) | 1991 | | 30 Years | | Avon Place | | Avon,CT | | 1,788,943.42 | | 12,447,191.47 | | 14,236,134.89 | | (963,897.75 | ) | 1973 | | 30 Years | | Balcones Club | | Austin, TX | | 2,185,500.00 | | 11,328,934.25 | | 13,514,434.25 | | (2,402,690.33 | ) | 1984 | | 30 Years | | Barrington | | Clarkston, GA | | 144,459.10 | | 1,383,082.94 | | 1,527,542.04 | | (179,325.23 | ) | 1984 | | 30 Years | | Bay Ridge | | San Pedro, CA | | 2,401,300.00 | | 2,433,826.34 | | 4,835,126.34 | | (536,036.90 | ) | 1987 | | 30 Years | | Bayside | | Sebring, FL | | 73,462.83 | | 796,745.16 | | 870,207.99 | | (132,119.27 | ) | 1982 | | 30 Years | | Bayside at the Islands | | Gilbert, AZ | | 3,306,484.00 | | 16,482,782.61 | | 19,789,266.61 | | (3,211,217.52 | ) | 1989 | | 30 Years | | Beach Club | | Fort Myers, FL | | 2,080,000.00 | | 15,829,766.73 | | 17,909,766.73 | | (2,660,542.34 | ) | 1990 | | 30 Years | | Bear Canyon | | Tucson, AZ | | 1,660,608.00 | | 11,531,018.91 | | 13,191,626.91 | | (2,198,022.36 | ) | 1996 | | 30 Years | | Beckford Place (IN) | | New Castle, IN | | 99,045.91 | | 970,949.72 | | 1,069,995.63 | | (123,373.22 | ) | 1984 | | 30 Years | | Beckford Place (Pla) | | The Plains, OH | | 161,160.76 | | 1,510,661.37 | | 1,671,822.13 | | (189,910.88 | ) | 1982 | | 30 Years | | Beckford Place I (OH) | | N Canton, OH | | 168,425.60 | | 1,627,689.74 | | 1,796,115.34 | | (205,823.60 | ) | 1983 | | 30 Years | | Beckford Place II (OH) | | N Canton, OH | | 172,134.32 | | 1,581,455.92 | | 1,753,590.24 | | (194,254.48 | ) | 1985 | | 30 Years | | Bel Aire I | | Miami, FL | | 188,342.67 | | 1,851,865.02 | | 2,040,207.69 | | (225,502.86 | ) | 1985 | | 30 Years | | Bel Aire II | | Miami, FL | | 136,416.15 | | 1,356,671.65 | | 1,493,087.80 | | (162,878.98 | ) | 1986 | | 30 Years | | Bell Road I & II | | Nashville, TN | | 3,100,000.00 | | 1,120,214.13 | | 4,220,214.13 | | — | | (F) | | 30 Years | | Bellevue Meadows | | Bellevue, WA | | 4,507,100.00 | | 13,009,581.59 | | 17,516,681.59 | | (2,155,631.12 | ) | 1983 | | 30 Years | | Belmont Crossing | | Riverdale, GA | | 1,580,000.00 | | 18,994,969.40 | | 20,574,969.40 | | (2,971,754.33 | ) | 1988 | | 30 Years | | Belmont Landing | | Riverdale, GA | | 2,120,000.00 | | 22,245,980.73 | | 24,365,980.73 | | (3,530,319.43 | ) | 1988 | | 30 Years | | Beneva Place | | Sarasota, FL | | 1,344,000.00 | | 9,992,911.16 | | 11,336,911.16 | | (1,621,632.19 | ) | 1986 | | 30 Years | | Bermuda Cove | | Jacksonville, FL | | 1,503,000.00 | | 20,324,143.65 | | 21,827,143.65 | | (3,217,912.43 | ) | 1989 | | 30 Years | | Berry Pines | | Milton, FL | | 154,085.80 | | 1,575,559.61 | | 1,729,645.41 | | (229,261.27 | ) | 1985 | | 30 Years | | Bishop Park | | Winter Park, FL | | 2,592,000.00 | | 19,628,755.99 | | 22,220,755.99 | | (3,318,641.00 | ) | 1991 | | 30 Years | | Blue Swan | | San Antonio, TX | | 1,425,500.00 | | 8,364,135.99 | | 9,789,635.99 | | (1,883,558.34 | ) | 1985-1994 | | 30 Years | | Blueberry Hill I | | Leesburg, FL | | 140,369.75 | | 1,332,181.77 | | 1,472,551.52 | | (181,436.46 | ) | 1986 | | 30 Years | | Boulder Creek | | Wilsonville, OR | | 3,554,400.00 | | 12,473,475.60 | | 16,027,875.60 | | (2,855,862.79 | ) | 1991 | | 30 Years | | Bourbon Square | | Palatine, IL | | 3,899,744.12 | | 41,692,514.43 | | 45,592,258.55 | | (14,927,809.44 | ) | 1984-87 | | 30 Years | | Bradford Apartments | | Newington, CT | | 401,090.83 | | 2,754,988.66 | | 3,156,079.49 | | (228,623.70 | ) | 1964 | | 30 Years | | Bramblewood | | San Jose, CA | | 5,190,700.00 | | 9,964,151.21 | | 15,154,851.21 | | (1,652,930.11 | ) | 1986 | | 30 Years | | | | | | | | | | | | | | | | | | | | | |
S - 1
| |
| |
| | Initial Cost to Company
| | Cost Capitalized Subsequent to (Improvements, net) (H)
| | Gross Amount Carried at Close of Period 12/31/01
| |
|
---|
Description
| |
| | Life Used to Compute Depreciation in Latest Income Statement (C)
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Apartment Name
| | Location
| | Encumbrances
| | Land
| | Building & Fixtures
| | Land
| | Building & Fixtures
| | Land
| | Building & Fixtures (A)
| | Total (B)
| | Accumulated Depreciation
| | Date of Construction
|
---|
2300 Elliott | | Seattle, WA | | $ | — | | $ | 796,800.00 | | $ | 7,173,725.29 | | $ | — | | $ | 3,923,239.78 | | $ | 796,800.00 | | $ | 11,096,965.07 | | $ | 11,893,765.07 | | $ | (2,416,996.49 | ) | 1992 | | 30 Years | 2900 on First Combined | | Seattle, WA | | | — | | | 1,177,700.00 | | | 10,600,359.93 | | | — | | | 2,519,058.53 | | | 1,177,700.00 | | | 13,119,418.46 | | | 14,297,118.46 | | | (2,807,924.91 | ) | 1989-91 | | 30 Years | 740 River Drive | | St. Paul, MN | | | 6,293,458.72 | | | 1,626,700.00 | | | 11,234,942.51 | | | — | | | 1,740,794.97 | | | 1,626,700.00 | | | 12,975,737.48 | | | 14,602,437.48 | | | (2,162,161.00 | ) | 1962 | | 30 Years | 929 House | | Cambridge, MA | | | 4,940,230.82 | | | 3,252,993.36 | | | 21,745,594.74 | | | — | | | 461,887.86 | | | 3,252,993.36 | | | 22,207,482.60 | | | 25,460,475.96 | | | (902,334.73 | ) | 1975 | | 30 Years | Abington Glen | | Abington, MA | | | — | | | 553,105.38 | | | 3,697,396.23 | | | — | | | 106,919.59 | | | 553,105.38 | | | 3,804,315.82 | | | 4,357,421.20 | | | (171,575.15 | ) | 1968 | | 30 Years | Acacia Creek | | Scottsdale, AZ | | | 17,355,488.42 | | | 6,121,856.00 | | | 35,380,171.95 | | | — | | | 1,190,668.45 | | | 6,121,856.00 | | | 36,570,840.40 | | | 42,692,696.40 | | | (5,651,247.04 | ) | 1988-1994 | | 30 Years | Acadia Court | | Bloomington, IN | | | 2,032,526.13 | | | 257,483.69 | | | 2,268,652.90 | | | — | | | 273,104.90 | | | 257,483.69 | | | 2,541,757.80 | | | 2,799,241.49 | | | (225,394.98 | ) | 1985 | | 30 Years | Acadia Court II | | Bloomington, IN | | | 1,742,486.95 | | | 253,635.67 | | | 2,234,631.66 | | | — | | | 175,656.52 | | | 253,635.67 | | | 2,410,288.18 | | | 2,663,923.85 | | | (209,170.58 | ) | 1986 | | 30 Years | Adams Farm | | Greensboro, NC | | | — | | | 2,350,000.00 | | | 30,073,196.71 | | | — | | | 683,587.04 | | | 2,350,000.00 | | | 30,756,783.75 | | | 33,106,783.75 | | | (3,647,151.44 | ) | 1987 | | 30 Years | Alborada | | Fremont, CA | | | — | | | 24,310,000.00 | | | 59,214,128.76 | | | — | | | 210,358.72 | | | 24,310,000.00 | | | 59,424,487.48 | | | 83,734,487.48 | | | (3,580,726.33 | ) | 1999 | | 30 Years | Alderwood Park | | Lynnwood, WA | | | — | | | 3,767,400.00 | | | 8,110,529.50 | | | — | | | 502,834.73 | | | 3,767,400.00 | | | 8,613,364.23 | | | 12,380,764.23 | | | (1,171,197.66 | ) | 1982 | | 30 Years | Altamonte | | San Antonio, TX | | | (P | ) | | 1,665,070.00 | | | 14,986,473.86 | | | — | | | 1,452,560.34 | | | 1,665,070.00 | | | 16,439,034.20 | | | 18,104,104.20 | | | (4,749,901.77 | ) | 1985 | | 30 Years | Ambergate (FL) | | W. Palm Beach, FL | | | — | | | 730,000.00 | | | 1,687,743.10 | | | — | | | 109,180.90 | | | 730,000.00 | | | 1,796,924.00 | | | 2,526,924.00 | | | (99,670.88 | ) | 1987 | | 30 Years | Amberidge | | Roseville, MI | | | — | | | 130,844.19 | | | 1,152,879.92 | | | — | | | 54,420.28 | | | 130,844.19 | | | 1,207,300.20 | | | 1,338,144.39 | | | (104,218.06 | ) | 1985 | | 30 Years | Amberton | | Manassas, VA | | | 10,705,000.00 | | | 900,600.00 | | | 9,072,491.96 | | | — | | | 706,506.62 | | | 900,600.00 | | | 9,778,998.58 | | | 10,679,598.58 | | | (2,551,050.24 | ) | 1986 | | 30 Years | Amberwood (OH) | | Massillon, OH | | | 869,304.26 | | | 126,226.92 | | | 1,112,288.75 | | | — | | | 92,996.87 | | | 126,226.92 | | | 1,205,285.62 | | | 1,331,512.54 | | | (111,003.47 | ) | 1987 | | 30 Years | Amberwood I (FL) | | Lake City, FL | | | 383,816.60 | | | 101,744.04 | | | 896,376.92 | | | — | | | 37,770.91 | | | 101,744.04 | | | 934,147.83 | | | 1,035,891.87 | | | (82,024.82 | ) | 1981 | | 30 Years | Amesbury I | | Reynoldsbury, OH | | | 1,203,005.76 | | | 143,039.49 | | | 1,260,232.82 | | | — | | | 92,858.75 | | | 143,039.49 | | | 1,353,091.57 | | | 1,496,131.06 | | | (122,976.23 | ) | 1986 | | 30 Years | Amesbury II | | Reynoldsbury, OH | | | 1,228,816.69 | | | 180,588.07 | | | 1,591,228.65 | | | — | | | 86,735.44 | | | 180,588.07 | | | 1,677,964.09 | | | 1,858,552.16 | | | (147,704.16 | ) | 1987 | | 30 Years | Amhurst (Tol) | | Toledo, OH | | | — | | | 161,853.71 | | | 1,426,107.57 | | | — | | | 40,108.44 | | | 161,853.71 | | | 1,466,216.01 | | | 1,628,069.72 | | | (123,735.82 | ) | 1983 | | 30 Years | Amhurst I (OH) | | Dayton, OH | | | — | | | 152,573.92 | | | 1,344,352.53 | | | — | | | 185,676.22 | | | 152,573.92 | | | 1,530,028.75 | | | 1,682,602.67 | | | (143,170.32 | ) | 1979 | | 30 Years | Amhurst II (OH) | | Dayton, OH | | | — | | | 159,416.42 | | | 1,404,632.41 | | | — | | | 109,535.53 | | | 159,416.42 | | | 1,514,167.94 | | | 1,673,584.36 | | | (132,823.35 | ) | 1981 | | 30 Years | Andover Court | | Mt. Vernon, OH | | | — | | | 123,874.81 | | | 1,091,272.11 | | | — | | | 162,532.21 | | | 123,874.81 | | | 1,253,804.32 | | | 1,377,679.13 | | | (112,285.60 | ) | 1982 | | 30 Years | Annhurst (IN) | | Indianpolis, IN | | | 1,242,003.88 | | | 189,235.25 | | | 1,667,468.73 | | | — | | | 123,571.62 | | | 189,235.25 | | | 1,791,040.35 | | | 1,980,275.60 | | | (173,260.21 | ) | 1985 | | 30 Years | Annhurst (MD) (REIT) | | Belcamp, MD | | | 1,300,789.66 | | | 232,575.00 | | | 2,093,165.14 | | | — | | | 23,646.06 | | | 232,575.00 | | | 2,116,811.20 | | | 2,349,386.20 | | | (76,949.36 | ) | 1984 | | 30 Years | Annhurst (PA) | | Clairton, PA | | | 1,876,558.39 | | | 307,952.45 | | | 2,713,396.72 | | | — | | | 214,522.22 | | | 307,952.45 | | | 2,927,918.94 | | | 3,235,871.39 | | | (248,877.21 | ) | 1984 | | 30 Years | Annhurst II (OH) | | Gahanna, OH | | | — | | | 116,738.63 | | | 1,028,594.58 | | | — | | | 164,022.75 | | | 116,738.63 | | | 1,192,617.33 | | | 1,309,355.96 | | | (108,714.70 | ) | 1986 | | 30 Years | Annhurst III (OH) | | Gahanna, OH | | | — | | | 134,788.03 | | | 1,187,629.47 | | | — | | | 48,975.96 | | | 134,788.03 | | | 1,236,605.43 | | | 1,371,393.46 | | | (108,673.05 | ) | 1988 | | 30 Years | Apple Ridge I | | Circleville, OH | | | 1,015,881.78 | | | 139,299.72 | | | 1,227,582.35 | | | — | | | 66,067.79 | | | 139,299.72 | | | 1,293,650.14 | | | 1,432,949.86 | | | (115,225.21 | ) | 1987 | | 30 Years | Apple Ridge III | | Circleville, OH | | | 559,140.58 | | | 72,585.34 | | | 639,355.94 | | | — | | | 32,718.29 | | | 72,585.34 | | | 672,074.23 | | | 744,659.57 | | | (57,042.09 | ) | 1982 | | 30 Years | Apple Run (MI) | | Hillsdale, MI | | | — | | | 87,459.26 | | | 770,361.39 | | | — | | | 31,437.08 | | | 87,459.26 | | | 801,798.47 | | | 889,257.73 | | | (70,299.49 | ) | 1982 | | 30 Years | Applegate (Col) | | Columbus, IN | | | — | | | 171,829.10 | | | 1,514,001.64 | | | — | | | 65,636.49 | | | 171,829.10 | | | 1,579,638.13 | | | 1,751,467.23 | | | (136,423.58 | ) | 1982 | | 30 Years | Applegate (Lor) | | Lordstown, OH | | | — | | | 66,488.13 | | | 585,832.90 | | | — | | | 24,164.30 | | | 66,488.13 | | | 609,997.20 | | | 676,485.33 | | | (55,603.86 | ) | 1982 | | 30 Years | Applegate I (IN) | | Muncie, IN | | | 903,188.90 | | | 138,505.63 | | | 1,220,385.53 | | | — | | | 105,295.09 | | | 138,505.63 | | | 1,325,680.62 | | | 1,464,186.25 | | | (116,782.82 | ) | 1984 | | 30 Years | Applegate II (IN) | | Muncie, IN | | | 1,210,435.97 | | | 180,016.68 | | | 1,586,143.14 | | | — | | | 82,723.40 | | | 180,016.68 | | | 1,668,866.54 | | | 1,848,883.22 | | | (147,918.81 | ) | 1987 | | 30 Years | Applerun (War) | | Warren, OH | | | — | | | 113,303.19 | | | 999,076.55 | | | — | | | 32,385.10 | | | 113,303.19 | | | 1,031,461.65 | | | 1,144,764.84 | | | (90,429.48 | ) | 1983 | | 30 Years | Applewood I | | Deland, FL | | | 2,130,409.78 | | | 235,230.48 | | | 2,072,993.86 | | | — | | | 277,759.48 | | | 235,230.48 | | | 2,350,753.34 | | | 2,585,983.82 | | | (250,417.43 | ) | 1982 | | 30 Years | Aragon Woods | | Indianpolis, IN | | | 1,066,854.35 | | | 157,790.97 | | | 1,390,010.45 | | | — | | | 59,804.88 | | | 157,790.97 | | | 1,449,815.33 | | | 1,607,606.30 | | | (130,339.69 | ) | 1986 | | 30 Years | Arbor Commons | | Ellington, CT | | | — | | | 151,352.24 | | | 1,011,758.71 | | | — | | | 6,711.65 | | | 151,352.24 | | | 1,018,470.36 | | | 1,169,822.60 | | | (45,609.67 | ) | 1975 | | 30 Years | Arbor Glen | | Ypsilanti, MI | | | 6,870,150.58 | | | 1,096,064.41 | | | 9,887,635.23 | | | — | | | 672,029.37 | | | 1,096,064.41 | | | 10,559,664.60 | | | 11,655,729.01 | | | (1,718,903.26 | ) | 1990 | | 30 Years | Arbor Terrace | | Sunnyvale, CA | | | 12,085,730.30 | | | 9,057,300.00 | | | 18,483,641.96 | | | — | | | 472,797.49 | | | 9,057,300.00 | | | 18,956,439.45 | | | 28,013,739.45 | | | (2,360,277.94 | ) | 1979 | | 30 Years | Arboretum (AZ) | | Tucson, AZ | | | (M | ) | | 3,453,446.00 | | | 19,020,018.80 | | | — | | | 923,264.14 | | | 3,453,446.00 | | | 19,943,282.94 | | | 23,396,728.94 | | | (3,300,100.27 | ) | 1987 | | 30 Years | Arboretum (GA) | | Atlanta, GA | | | — | | | 4,682,300.00 | | | 15,913,018.18 | | | — | | | 901,304.69 | | | 4,682,300.00 | | | 16,814,322.87 | | | 21,496,622.87 | | | (2,703,297.01 | ) | 1970 | | 30 Years | Arboretum (MA) | | Canton, MA | | | (P | ) | | 4,685,900.00 | | | 10,992,750.95 | | | — | | | 357,084.59 | | | 4,685,900.00 | | | 11,349,835.54 | | | 16,035,735.54 | | | (1,497,099.11 | ) | 1989 | | 30 Years | Arbors at Century Center | | Memphis, TN | | | — | | | 2,521,700.00 | | | 15,236,996.38 | | | — | | | 793,239.51 | | | 2,521,700.00 | | | 16,030,235.89 | | | 18,551,935.89 | | | (2,202,357.98 | ) | 1988/1990 | | 30 Years | Arbors of Brentwood | | Nashville, TN | | | (D | ) | | 404,670.00 | | | 13,536,366.74 | | | — | | | 1,268,112.87 | | | 404,670.00 | | | 14,804,479.61 | | | 15,209,149.61 | | | (4,747,744.84 | ) | 1986 | | 30 Years | Arbors of Hickory Hollow | | Antioch, TN | | | (D | ) | | 202,985.00 | | | 6,937,208.87 | | | — | | | 2,028,187.27 | | | 202,985.00 | | | 8,965,396.14 | | | 9,168,381.14 | | | (3,499,815.01 | ) | 1986 | | 30 Years | Arbors of Las Colinas | | Irving, TX | | | — | | | 1,663,900.00 | | | 14,977,079.82 | | | — | | | 1,906,997.69 | | | 1,663,900.00 | | | 16,884,077.51 | | | 18,547,977.51 | | | (5,367,565.74 | ) | 1984/85 | | 30 Years | Ashford Hill | | Reynoldsbury, OH | | | 1,375,055.10 | | | 184,985.30 | | | 1,630,021.10 | | | — | | | 183,157.35 | | | 184,985.30 | | | 1,813,178.45 | | | 1,998,163.75 | | | (165,186.07 | ) | 1986 | | 30 Years | Ashgrove (IN) | | Indianpolis, IN | | | — | | | 172,923.97 | | | 1,523,548.66 | | | — | | | 43,542.41 | | | 172,923.97 | | | 1,567,091.07 | | | 1,740,015.04 | | | (135,728.64 | ) | 1983 | | 30 Years | Ashgrove (KY) | | Louisville, KY | | | 1,012,102.90 | | | 171,815.79 | | | 1,514,034.38 | | | — | | | 47,847.74 | | | 171,815.79 | | | 1,561,882.12 | | | 1,733,697.91 | | | (132,955.68 | ) | 1984 | | 30 Years | Ashgrove (Mar) | | Marshall, MI | | | 819,091.34 | | | 119,822.73 | | | 1,055,968.80 | | | — | | | 112,280.41 | | | 119,822.73 | | | 1,168,249.21 | | | 1,288,071.94 | | | (104,006.81 | ) | 1983 | | 30 Years | Ashgrove (OH) | | Franklin, OH | | | 1,231,160.75 | | | 157,534.56 | | | 1,387,687.13 | | | — | | | 108,659.58 | | | 157,534.56 | | | 1,496,346.71 | | | 1,653,881.27 | | | (132,333.39 | ) | 1983 | | 30 Years | Ashgrove I (MI) | | Sterling Hts, MI | | | 3,189,856.77 | | | 403,579.77 | | | 3,555,987.60 | | | — | | | 145,389.46 | | | 403,579.77 | | | 3,701,377.06 | | | 4,104,956.83 | | | (314,254.20 | ) | 1985 | | 30 Years | Ashgrove II (MI) | | Sterling Hts, MI | | | 2,243,721.49 | | | 311,912.27 | | | 2,748,287.00 | | | — | | | 71,579.68 | | | 311,912.27 | | | 2,819,866.68 | | | 3,131,778.95 | | | (234,003.55 | ) | 1987 | | 30 Years | Ashton, The | | Corona Hills, CA | | | — | | | 2,594,264.00 | | | 33,042,397.56 | | | — | | | 1,076,279.07 | | | 2,594,264.00 | | | 34,118,676.63 | | | 36,712,940.63 | | | (5,099,980.23 | ) | 1986 | | 30 Years | Aspen Crossing | | Silver Spring, MD | | | — | | | 2,880,000.00 | | | 8,551,377.19 | | | — | | | 483,808.47 | | | 2,880,000.00 | | | 9,035,185.66 | | | 11,915,185.66 | | | (1,059,577.11 | ) | 1979 | | 30 Years | Astorwood (REIT) | | Stuart, FL | | | 1,606,002.78 | | | 233,150.00 | | | 2,098,338.21 | | | — | | | 55,748.60 | | | 233,150.00 | | | 2,154,086.81 | | | 2,387,236.81 | | | (80,024.31 | ) | 1983 | | 30 Years | Audubon Village | | Tampa, FL | | | — | | | 3,576,000.00 | | | 26,121,908.57 | | | — | | | 650,140.11 | | | 3,576,000.00 | | | 26,772,048.68 | | | 30,348,048.68 | | | (3,270,148.24 | ) | 1990 | | 30 Years | Autumn Cove | | Lithonia, GA | | | — | | | 187,220.29 | | | 1,649,514.80 | | | — | | | 47,894.09 | | | 187,220.29 | | | 1,697,408.89 | | | 1,884,629.18 | | | (141,209.36 | ) | 1985 | | 30 Years | Autumn Creek | | Cordova, TN | | | (E | ) | | 1,681,900.00 | | | 9,345,281.88 | | | — | | | 505,411.20 | | | 1,681,900.00 | | | 9,850,693.08 | | | 11,532,593.08 | | | (1,625,301.70 | ) | 1991 | | 30 Years | Auvers Village | | Orlando, FL | | | — | | | 3,840,000.00 | | | 29,322,242.96 | | | — | | | 892,365.82 | | | 3,840,000.00 | | | 30,214,608.78 | | | 34,054,608.78 | | | (3,607,659.89 | ) | 1991 | | 30 Years | Avon Place | | Avon,CT | | | 6,342,236.00 | | | 1,788,943.42 | | | 12,253,956.09 | | | — | | | 91,888.57 | | | 1,788,943.42 | | | 12,345,844.66 | | | 14,134,788.08 | | | (508,502.87 | ) | 1973 | | 30 Years | Balcones Club | | Austin, TX | | | — | | | 2,185,500.00 | | | 10,119,231.65 | | | — | | | 1,008,550.34 | | | 2,185,500.00 | | | 11,127,781.99 | | | 13,313,281.99 | | | (1,812,193.21 | ) | 1984 | | 30 Years | Barrington | | Clarkston, GA | | | 994,650.06 | | | 144,459.10 | | | 1,272,842.11 | | | — | | | 78,906.36 | | | 144,459.10 | | | 1,351,748.47 | | | 1,496,207.57 | | | (118,843.32 | ) | 1984 | | 30 Years | Bay Ridge | | San Pedro, CA | | | — | | | 2,401,300.00 | | | 2,176,963.16 | | | — | | | 216,549.96 | | | 2,401,300.00 | | | 2,393,513.12 | | | 4,794,813.12 | | | (420,001.92 | ) | 1987 | | 30 Years | Bayside | | Sebring, FL | | | — | | | 73,462.83 | | | 647,287.62 | | | — | | | 127,233.31 | | | 73,462.83 | | | 774,520.93 | | | 847,983.76 | | | (82,493.57 | ) | 1982 | | 30 Years | Bayside at the Islands | | Gilbert, AZ | | | — | | | 3,306,484.00 | | | 15,573,006.00 | | | — | | | 772,162.94 | | | 3,306,484.00 | | | 16,345,168.94 | | | 19,651,652.94 | | | (2,499,291.07 | ) | 1989 | | 30 Years | Beach Club | | Fort Myers, FL | | | — | | | 2,080,000.00 | | | 14,800,928.05 | | | — | | | 743,096.79 | | | 2,080,000.00 | | | 15,544,024.84 | | | 17,624,024.84 | | | (1,979,602.85 | ) | 1990 | | 30 Years | Bear Canyon | | Tucson, AZ | | | — | | | 1,660,608.00 | | | 11,228,523.59 | | | — | | | 215,008.18 | | | 1,660,608.00 | | | 11,443,531.77 | | | 13,104,139.77 | | | (1,736,577.10 | ) | 1996 | | 30 Years | Beckford Place (IN) | | New Castle, IN | | | 699,047.38 | | | 99,045.91 | | | 872,702.38 | | | — | | | 61,752.08 | | | 99,045.91 | | | 934,454.46 | | | 1,033,500.37 | | | (80,949.67 | ) | 1984 | | 30 Years | Beckford Place (Pla) | | The Plains, OH | | | — | | | 161,160.76 | | | 1,420,001.96 | | | — | | | 66,080.17 | | | 161,160.76 | | | 1,486,082.13 | | | 1,647,242.89 | | | (127,138.53 | ) | 1982 | | 30 Years | Beckford Place I (OH) | | N Canton, OH | | | 1,119,591.20 | | | 168,425.60 | | | 1,484,248.06 | | | — | | | 120,962.43 | | | 168,425.60 | | | 1,605,210.49 | | | 1,773,636.09 | | | (134,514.76 | ) | 1983 | | 30 Years | Beckford Place II (OH) | | N Canton, OH | | | 1,185,501.38 | | | 172,134.32 | | | 1,516,690.93 | | | — | | | 48,170.14 | | | 172,134.32 | | | 1,564,861.07 | | | 1,736,995.39 | | | (130,129.87 | ) | 1985 | | 30 Years | Bel Aire I | | Miami, FL | | | — | | | 188,342.67 | | | 1,658,995.16 | | | — | | | 53,343.17 | | | 188,342.67 | | | 1,712,338.33 | | | 1,900,681.00 | | | (146,046.81 | ) | 1985 | | 30 Years | Bel Aire II | | Miami, FL | | | — | | | 136,416.15 | | | 1,201,075.48 | | | — | | | 31,378.01 | | | 136,416.15 | | | 1,232,453.49 | | | 1,368,869.64 | | | (105,308.09 | ) | 1986 | | 30 Years | Bell Road I & II | | Nashville, TN | | | — | | | 3,100,000.00 | | | 1,120,214.13 | | | — | | | — | | | 3,100,000.00 | | | 1,120,214.13 | | | 4,220,214.13 | | | — | | (O) | | 30 Years | Bellevue Meadows | | Bellevue, WA | | | — | | | 4,507,100.00 | | | 12,574,814.34 | | | — | | | 371,036.03 | | | 4,507,100.00 | | | 12,945,850.37 | | | 17,452,950.37 | | | (1,646,943.48 | ) | 1983 | | 30 Years | Belmont Crossing | | Riverdale, GA | | | — | | | 1,580,000.00 | | | 18,449,044.76 | | | — | | | 331,350.46 | | | 1,580,000.00 | | | 18,780,395.22 | | | 20,360,395.22 | | | (2,232,203.29 | ) | 1988 | | 30 Years | Belmont Landing | | Riverdale, GA | | | — | | | 2,120,000.00 | | | 21,651,256.11 | | | — | | | 445,990.93 | | | 2,120,000.00 | | | 22,097,247.04 | | | 24,217,247.04 | | | (2,656,824.04 | ) | 1988 | | 30 Years | Beneva Place | | Sarasota, FL | | | 8,700,000.00 | | | 1,344,000.00 | | | 9,665,446.61 | | | — | | | 258,654.53 | | | 1,344,000.00 | | | 9,924,101.14 | | | 11,268,101.14 | | | (1,217,541.15 | ) | 1986 | | 30 Years | Bermuda Cove | | Jacksonville, FL | | | — | | | 1,503,000.00 | | | 19,561,895.89 | | | — | | | 476,154.12 | | | 1,503,000.00 | | | 20,038,050.01 | | | 21,541,050.01 | | | (2,410,212.98 | ) | 1989 | | 30 Years | Berry Pines | | Milton, FL | | | — | | | 154,085.80 | | | 1,299,938.75 | | | — | | | 231,162.78 | | | 154,085.80 | | | 1,531,101.53 | | | 1,685,187.33 | | | (145,551.42 | ) | 1985 | | 30 Years | Bishop Park | | Winter Park, FL | | | — | | | 2,592,000.00 | | | 17,990,435.90 | | | — | | | 1,498,505.61 | | | 2,592,000.00 | | | 19,488,941.51 | | | 22,080,941.51 | | | (2,472,521.66 | ) | 1991 | | 30 Years | Blue Swan | | San Antonio, TX | | | (E | ) | | 1,425,500.00 | | | 7,591,291.62 | | | — | | | 668,053.35 | | | 1,425,500.00 | | | 8,259,344.97 | | | 9,684,844.97 | | | (1,479,001.18 | ) | 1985-1994 | | 30 Years | Blueberry Hill I | | Leesburg, FL | | | 712,801.99 | | | 140,369.75 | | | 1,236,710.45 | | | — | | | 74,087.32 | | | 140,369.75 | | | 1,310,797.77 | | | 1,451,167.52 | | | (119,407.33 | ) | 1986 | | 30 Years | Boulder Creek | | Wilsonville, OR | | | 8,068,000.00 | | | 3,554,400.00 | | | 11,481,773.38 | | | — | | | 712,285.17 | | | 3,554,400.00 | | | 12,194,058.55 | | | 15,748,458.55 | | | (2,312,570.84 | ) | 1991 | | 30 Years | Bourbon Square | | Palatine, IL | | | 25,912,868.28 | | | 3,985,300.00 | | | 35,870,193.94 | | | — | | | 6,048,268.54 | | | 3,985,300.00 | | | 41,918,462.48 | | | 45,903,762.48 | | | (13,314,462.52 | ) | 1984-87 | | 30 Years | Bourbon Square-RET | | Palatine, IL | | | — | | | — | | | — | | | — | | | 63,389.58 | | | — | | | 63,389.58 | | | 63,389.58 | | | (16,341.84 | ) | 1984-87 | | 30 Years | Bradford Apartments | | Newington, CT | | | 1,957,653.00 | | | 401,090.83 | | | 2,681,210.11 | | | — | | | 30,327.28 | | | 401,090.83 | | | 2,711,537.39 | | | 3,112,628.22 | | | (119,626.76 | ) | 1964 | | 30 Years | Bramblewood | | San Jose, CA | | | — | | | 5,190,700.00 | | | 9,659,184.34 | | | — | | | 229,572.05 | | | 5,190,700.00 | | | 9,888,756.39 | | | 15,079,456.39 | | | (1,265,858.20 | ) | 1986 | | 30 Years | Branchwood | | Winter Park, FL | | | — | | | 324,068.53 | | | 2,855,396.92 | | | — | | | 250,092.22 | | | 324,068.53 | | | 3,105,489.14 | | | 3,429,557.67 | | | (263,851.00 | ) | 1981 | | 30 Years | Brandon Court | | Bloomington, IN | | | 1,376,824.48 | | | 170,635.75 | | | 1,503,486.89 | | | — | | | 244,454.61 | | | 170,635.75 | | | 1,747,941.50 | | | 1,918,577.25 | | | (149,071.27 | ) | 1984 | | 30 Years | Brandywine E. | | Winter Haven, FL | | | 578,225.41 | | | 88,126.47 | | | 776,490.28 | | | — | | | 24,887.14 | | | 88,126.47 | | | 801,377.42 | | | 889,503.89 | | | (70,050.48 | ) | 1981 | | 30 Years | Breckinridge | | Lexington, KY | | | — | | | 1,648,300.00 | | | 14,845,714.75 | | | — | | | 679,732.58 | | | 1,648,300.00 | | | 15,525,447.33 | | | 17,173,747.33 | | | (2,578,856.91 | ) | 1986-1987 | | 30 Years | Brentwood | | Vancouver, WA | | | — | | | 1,357,221.39 | | | 12,202,521.39 | | | — | | | 1,148,388.52 | | | 1,357,221.39 | | | 13,350,909.91 | | | 14,708,131.30 | | | (3,586,113.93 | ) | 1990 | | 30 Years | Breton Mill | | Houston, TX | | | — | | | 212,820.00 | | | 8,547,262.73 | | | — | | | 981,575.58 | | | 212,820.00 | | | 9,528,838.31 | | | 9,741,658.31 | | | (3,000,325.77 | ) | 1986 | | 30 Years | Briar Knoll Apts | | Vernon, CT | | | 5,970,067.49 | | | 928,971.99 | | | 6,209,987.58 | | | — | | | 68,903.86 | | | 928,971.99 | | | 6,278,891.44 | | | 7,207,863.43 | | | (276,449.61 | ) | 1986 | | 30 Years | Briarwood (CA) | | Sunnyvale, CA | | | 13,813,603.07 | | | 9,991,500.00 | | | 22,247,278.39 | | | — | | | 302,591.17 | | | 9,991,500.00 | | | 22,549,869.56 | | | 32,541,369.56 | | | (2,708,341.26 | ) | 1985 | | 30 Years | Bridford Lakes | | Greensboro, NC | | | — | | | 2,265,314.00 | | | 27,073,465.75 | | | — | | | 87,396.23 | | | 2,265,314.00 | | | 27,160,861.98 | | | 29,426,175.98 | | | (2,983,346.18 | ) | 1999 | | 30 Years | Bridge Creek | | Wilsonville, OR | | | — | | | 1,299,890.00 | | | 11,690,113.58 | | | — | | | 1,883,935.38 | | | 1,299,890.00 | | | 13,574,048.96 | | | 14,873,938.96 | | | (4,404,842.78 | ) | 1987 | | 30 Years | Bridgeport | | Raleigh, NC | | | — | | | 1,296,700.00 | | | 11,666,278.32 | | | — | | | 880,145.26 | | | 1,296,700.00 | | | 12,546,423.58 | | | 13,843,123.58 | | | (3,900,619.53 | ) | 1990 | | 30 Years | Bridgewater at Wells Crossing | | Orange Park, FL | | | — | | | 2,160,000.00 | | | 13,347,548.89 | | | — | | | 373,064.81 | | | 2,160,000.00 | | | 13,720,613.70 | | | 15,880,613.70 | | | (1,069,735.14 | ) | 1986 | | 30 Years | Brierwood | | Jacksonville, FL | | | — | | | 551,900.00 | | | 4,965,855.71 | | | — | | | 1,059,121.11 | | | 551,900.00 | | | 6,024,976.82 | | | 6,576,876.82 | | | (1,553,828.28 | ) | 1974 | | 30 Years | Brittany Square | | Tulsa, OK | | | — | | | 625,000.00 | | | 4,050,961.00 | | | — | | | 1,212,761.35 | | | 625,000.00 | | | 5,263,722.35 | | | 5,888,722.35 | | | (3,189,606.65 | ) | 1982 | | 30 Years | Broadview Oaks (REIT) | | Pensacola, FL | | | 1,868,932.10 | | | 201,000.00 | | | 1,809,184.92 | | | — | | | 41,415.97 | | | 201,000.00 | | | 1,850,600.89 | | | 2,051,600.89 | | | (70,916.19 | ) | 1985 | | 30 Years | Broadway | | Garland, TX | | | 5,969,822.72 | | | 1,443,700.00 | | | 7,790,989.43 | | | — | | | 901,951.36 | | | 1,443,700.00 | | | 8,692,940.79 | | | 10,136,640.79 | | | (1,337,155.57 | ) | 1983 | | 30 Years | Brookdale Village | | Naperville, IL | | | 11,175,000.00 | | | 3,276,000.00 | | | 16,293,470.97 | | | — | | | 537,190.91 | | | 3,276,000.00 | | | 16,830,661.88 | | | 20,106,661.88 | | | (1,545,302.43 | ) | 1986 | | 30 Years | Brookfield | | Salt Lake City, UT | | | — | | | 1,153,000.00 | | | 5,682,452.92 | | | — | | | 340,413.09 | | | 1,153,000.00 | | | 6,022,866.01 | | | 7,175,866.01 | | | (1,034,964.74 | ) | 1985 | | 30 Years | Brookridge | | Centreville, VA | | | (E | ) | | 2,521,500.00 | | | 16,003,838.95 | | | — | | | 682,137.71 | | | 2,521,500.00 | | | 16,685,976.66 | | | 19,207,476.66 | | | (2,628,438.42 | ) | 1989 | | 30 Years | Brookside (CO) | | Boulder, CO | | | — | | | 3,600,400.00 | | | 10,211,158.98 | | | — | | | 195,108.31 | | | 3,600,400.00 | | | 10,406,267.29 | | | 14,006,667.29 | | | (1,351,134.93 | ) | 1993 | | 30 Years | Brookside (MD) | | Frederick, MD | | | 7,951,414.83 | | | 2,736,000.00 | | | 8,173,436.48 | | | — | | | 307,925.35 | | | 2,736,000.00 | | | 8,481,361.83 | | | 11,217,361.83 | | | (881,397.75 | ) | 1993 | | 30 Years | Brookside II (MD) | | Frederick, MD | | | — | | | 2,450,800.00 | | | 6,913,202.43 | | | — | | | 690,662.52 | | | 2,450,800.00 | | | 7,603,864.95 | | | 10,054,664.95 | | | (1,135,748.80 | ) | 1979 | | 30 Years | Brookside Place | | Stockton, CA | | | 4,658,000.00 | | | 625,000.00 | | | 4,380,055.81 | | | — | | | 19,981.15 | | | 625,000.00 | | | 4,400,036.96 | | | 5,025,036.96 | | | (95,544.88 | ) | 1981 | | 30 Years | Brooksyde Apts | | West Hartford, CT | | | 1,937,190.00 | | | 594,711.19 | | | 3,975,522.58 | | | — | | | 86,514.85 | | | 594,711.19 | | | 4,062,037.43 | | | 4,656,748.62 | | | (174,775.45 | ) | 1945 | | 30 Years | Brunswick (OH) (REIT) | | Cortland, OH | | | — | | | 190,000.00 | | | 1,713,388.64 | | | — | | | 25,462.03 | | | 190,000.00 | | | 1,738,850.67 | | | 1,928,850.67 | | | (68,928.59 | ) | 1985 | | 30 Years | Brunswick I (WV) | | Morgantown, WV | | | 1,634,490.04 | | | 241,739.37 | | | 2,129,979.31 | | | — | | | 115,784.41 | | | 241,739.37 | | | 2,245,763.72 | | | 2,487,503.09 | | | (196,851.16 | ) | 1986 | | 30 Years | Brunswick II (WV) | | Morgantown, WV | | | 1,238,596.57 | | | 202,928.23 | | | 1,788,318.88 | | | — | | | 57,800.24 | | | 202,928.23 | | | 1,846,119.12 | | | 2,049,047.35 | | | (159,421.20 | ) | 1987 | | 30 Years | Burgundy Studios | | Middletown, CT | | | 1,821,650.00 | | | 395,238.20 | | | 2,642,086.50 | | | — | | | 109,251.39 | | | 395,238.20 | | | 2,751,337.89 | | | 3,146,576.09 | | | (126,317.23 | ) | 1973 | | 30 Years | Burwick Farms | | Howell, MI | | | 9,597,189.97 | | | 1,104,600.00 | | | 9,932,206.94 | | | — | | | 479,855.93 | | | 1,104,600.00 | | | 10,412,062.87 | | | 11,516,662.87 | | | (1,764,035.85 | ) | 1991 | | 30 Years | Calais | | Arlington, TX | | | — | | | 1,118,900.00 | | | 10,070,076.01 | | | — | | | 709,779.69 | | | 1,118,900.00 | | | 10,779,855.70 | | | 11,898,755.70 | | | (1,995,364.48 | ) | 1986 | | 30 Years | California Gardens | | Jacksonville, FL | | | — | | | 105,528.18 | | | 929,869.29 | | | — | | | 103,411.76 | | | 105,528.18 | | | 1,033,281.05 | | | 1,138,809.23 | | | (100,116.04 | ) | 1987 | | 30 Years |
Description | | | | Initial Cost to Company | | Cost Capitalized Subsequent to Acquisition (Improvements, net)(E) | | Apartment Name | | Location | | Encumbrances | | Land | | Building & Fixtures | | Land | | Building & Fixtures | | Branchwood | | Winter Park, FL | | — | | 324,068.53 | | 2,855,396.92 | | — | | 296,593.15 | | Brandon Court | | Bloomington, IN | | — | | 170,635.75 | | 1,503,486.89 | | — | | 288,105.09 | | Brandywine E. | | Winter Haven, FL | | 568,389.28 | | 88,126.47 | | 776,490.28 | | — | | 45,853.03 | | Breckinridge | | Lexington, KY | | — | | 1,648,300.00 | | 14,845,714.75 | | — | | 1,067,668.77 | | Brentwood | | Vancouver, WA | | — | | 1,357,221.39 | | 12,202,521.39 | | — | | 1,265,784.22 | | Breton Mill | | Houston, TX | | — | | 212,820.00 | | 8,547,262.73 | | — | | 1,099,856.21 | | Briar Knoll Apts | | Vernon, CT | | 5,904,791.83 | | 928,971.99 | | 6,209,987.58 | | — | | 188,764.11 | | Briarwood (CA) | | Sunnyvale, CA | | 13,644,104.84 | | 9,991,500.00 | | 22,247,278.39 | | — | | 342,289.22 | | Bridford Lakes | | Greensboro, NC | | — | | 2,265,314.00 | | 27,073,465.75 | | — | | 143,655.21 | | Bridge Creek | | Wilsonville, OR | | — | | 1,299,890.00 | | 11,690,113.58 | | — | | 2,128,775.63 | | Bridgeport | | Raleigh, NC | | — | | 1,296,700.00 | | 11,666,278.32 | | — | | 1,088,142.67 | | Bridgewater at Wells Crossing | | Orange Park, FL | | — | | 2,160,000.00 | | 13,347,548.89 | | — | | 756,159.11 | | Brierwood | | Jacksonville, FL | | — | | 551,900.00 | | 4,965,855.71 | | — | | 1,199,762.21 | | Brittany Square | | Tulsa, OK | | — | | 625,000.00 | | 4,050,961.00 | | — | | 1,355,163.68 | | Broadview Oaks (REIT) | | Pensacola, FL | | 1,842,765.38 | | 201,000.00 | | 1,809,184.92 | | — | | 164,748.98 | | Broadway | | Garland, TX | | 5,892,280.94 | | 1,443,700.00 | | 7,790,989.43 | | — | | 1,045,838.06 | | Brookdale Village | | Naperville, IL | | 10,991,722.03 | | 3,276,000.00 | | 16,293,470.97 | | — | | 886,523.98 | | Brookfield | | Salt Lake City, UT | | — | | 1,153,000.00 | | 5,682,452.92 | | — | | 515,205.52 | | Brookridge | | Centreville, VA | | — | | 2,521,500.00 | | 16,003,838.95 | | — | | 849,148.67 | | Brookside (CO) | | Boulder, CO | | — | | 3,600,400.00 | | 10,211,158.98 | | — | | 243,320.39 | | Brookside (MD) | | Frederick, MD | | 7,812,687.14 | | 2,736,000.00 | | 8,173,436.48 | | — | | 570,240.66 | | Brookside II (MD) | | Frederick, MD | | — | | 2,450,800.00 | | 6,913,202.43 | | — | | 784,128.43 | | Brookside Place | | Stockton, CA | | 4,658,000.00 | | 625,000.00 | | 4,656,690.78 | | — | | 121,115.35 | | Brooksyde Apts | | West Hartford, CT | | | (P) | 594,711.19 | | 3,975,522.58 | | — | | 166,382.08 | | Burgundy Studios | | Middletown, CT | | | (P) | 395,238.20 | | 2,642,086.50 | | — | | 138,520.22 | | Burwick Farms | | Howell, MI | | | (Q) | 1,104,600.00 | | 9,932,206.94 | | — | | 587,381.29 | | Calais | | Arlington, TX | | — | | 1,118,900.00 | | 10,070,076.01 | | — | | 880,235.24 | | Cambridge at Hickory Hollow | | Antioch, TN | | | (J) | 3,240,800.00 | | 17,900,032.88 | | — | | 773,569.56 | | Cambridge Commons I | | Indianapolis, IN | | — | | 179,139.19 | | 1,578,077.45 | | — | | 273,978.21 | | Cambridge Commons II | | Indianapolis, IN | | 844,998.64 | | 141,845.25 | | 1,249,511.25 | | — | | 210,407.37 | | Cambridge Commons III | | Indianapolis, IN | | — | | 98,124.94 | | 864,737.63 | | — | | 168,970.86 | | Cambridge Estates | | Norwich,CT | | — | | 590,184.84 | | 3,945,264.85 | | — | | 117,976.00 | | Cambridge Village | | Lewisville, TX | | — | | 801,300.00 | | 8,762,606.48 | | — | | 761,676.50 | | Camellero | | Scottsdale, AZ | | — | | 1,924,900.00 | | 17,324,592.87 | | — | | 3,643,304.47 | | Camellia Court I (Col) | | Columbus, OH | | — | | 133,058.78 | | 1,172,392.84 | | — | | 133,292.26 | | Camellia Court I (Day) | | Dayton, OH | | 1,055,461.46 | | 131,858.32 | | 1,162,065.53 | | — | | 155,078.28 | | Camellia Court II (Col) | | Columbus, OH | | 910,416.72 | | 118,420.87 | | 1,043,416.87 | | — | | 112,796.96 | | Camellia Court II (Day) | | Dayton, OH | | — | | 131,570.85 | | 1,159,282.59 | | — | | 103,927.52 | | Candlelight I | | Brooksville, FL | | 582,447.48 | | 105,000.27 | | 925,166.77 | | — | | 86,714.96 | | Candlelight II | | Brooksville, FL | | 575,370.55 | | 95,061.25 | | 837,593.20 | | — | | 96,415.40 | | Canterbury | | Germantown, MD | | 31,680,000.00 | | 2,781,300.00 | | 28,442,497.98 | | — | | 2,137,880.66 | | Canterbury Crossings | | Lake Mary, FL | | — | | 273,670.75 | | 2,411,537.51 | | — | | 108,944.30 | | Canterchase | | Nashville, TN | | — | | 863,600.00 | | 7,762,804.13 | | — | | 972,953.54 | | Canyon Creek (CA) | | San Ramon, CA | | 28,000,000.00 | | 5,425,000.00 | | 16,989,210.10 | | — | | 358,033.93 | | Canyon Crest | | Santa Clarita, CA | | — | | 2,370,000.00 | | 10,141,878.44 | | — | | 525,313.32 | | Canyon Ridge | | San Diego, CA | | — | | 4,869,448.00 | | 11,955,063.50 | | — | | 427,375.28 | | Capital Ridge (REIT) | | Tallahassee, FL | | — | | 177,900.00 | | 1,601,157.16 | | — | | 123,094.59 | | Cardinal, The | | Greensboro, NC | | — | | 1,281,200.00 | | 11,850,556.68 | | — | | 415,510.48 | | Carleton Court (WV) | | Cross Lanes, WV | | 1,259,937.52 | | 196,222.37 | | 1,728,932.91 | | — | | 127,229.85 | | Carmel Terrace | | San Diego, CA | | — | | 2,288,300.00 | | 20,596,280.88 | | — | | 1,017,628.09 | | Carolina Crossing | | Greenville, SC | | — | | 550,200.00 | | 4,949,618.55 | | — | | 562,965.61 | | Carriage Hill | | Dublin, GA | | — | | 131,910.67 | | 1,162,576.76 | | — | | 55,212.90 | | Carriage Homes at Wyndham | | Glen Allen, VA | | — | | 1,736,000.00 | | 27,476,005.88 | | — | | 249,470.28 | | Casa Capricorn | | San Diego, CA | | — | | 1,262,700.00 | | 11,365,093.09 | | — | | 1,064,170.37 | | Casa Ruiz | | San Diego, CA | | — | | 3,922,400.00 | | 9,389,153.21 | | — | | 947,962.55 | | Cascade at Landmark | | Alexandria, VA | | — | | 3,603,400.00 | | 19,657,553.75 | | — | | 1,533,325.59 | | Catalina Shores | | Las Vegas, NV | | — | | 1,227,000.00 | | 11,042,866.93 | | — | | 1,141,607.10 | | Cedar Crest | | Overland Park, KS | | | (R) | 2,160,700.00 | | 19,424,617.27 | | — | | 2,908,333.99 | | Cedar Glen | | Reading, MA | | 4,432,007.84 | | 1,248,505.45 | | 8,346,003.34 | | — | | 123,348.79 | | Cedar Hill | | Knoxville, TN | | 1,413,125.00 | | 204,792.35 | | 1,804,443.80 | | — | | 154,837.43 | | Cedargate (GA) | | Lawrenceville, GA | | — | | 205,043.45 | | 1,806,656.21 | | — | | 42,536.68 | | Cedargate (MI) | | Michigan City, IN | | 768,509.69 | | 120,378.15 | | 1,060,662.66 | | — | | 60,655.97 | | Cedargate (She) | | Shelbyville, KY | | 1,144,831.50 | | 158,685.33 | | 1,398,040.66 | | — | | 108,775.03 | | Cedargate I (Cla) | | Clayton, OH | | 1,189,237.36 | | 159,599.20 | | 1,406,492.86 | | — | | 166,624.53 | | Cedargate I (IN) | | Bloomington, IN | | — | | 191,650.35 | | 1,688,648.45 | | — | | 159,431.99 | | Cedargate I (OH) | | Lancaster, OH | | 2,198,700.18 | | 240,586.83 | | 2,119,432.15 | | — | | 257,957.47 | | Cedargate II (IN) | | Bloomington, IN | | — | | 165,040.72 | | 1,454,188.64 | | — | | 120,815.10 | | Cedargate II (OH) | | Lancaster, OH | | 685,158.40 | | 87,618.08 | | 771,911.76 | | — | | 100,691.46 | | Cedarwood I (Bel) | | Belpre, OH | | — | | 82,081.62 | | 722,449.49 | | — | | 39,511.51 | | Cedarwood I (FL) | | Ocala, FL | | 104,000.00 | | 119,469.60 | | 1,052,657.37 | | — | | 128,236.34 | | Cedarwood I (IN) | | Goshen, IN | | 1,847,634.16 | | 251,744.93 | | 2,218,126.20 | | — | | 228,194.78 | | Cedarwood I (KY) | | Lexington, KY | | — | | 106,680.72 | | 939,874.44 | | — | | 150,640.08 | | Cedarwood II (FL) | | Ocala, FL | | — | | 98,372.48 | | 866,768.77 | | — | | 67,618.09 | | Cedarwood II (KY) | | Lexington, KY | | 969,000.00 | | 106,724.20 | | 940,356.51 | | — | | 143,412.09 | | Cedarwood III (KY) | | Lexington, KY | | — | | 102,491.11 | | 902,659.39 | | — | | 110,895.47 | | CenterPointe | | Beaverton, OR | | — | | 3,432,000.00 | | 15,708,852.54 | | — | | 1,449,212.75 | | Centre Club | | Ontario, CA | | — | | 5,616,000.00 | | 23,485,891.14 | | — | | 534,755.78 | | Centre Club II | | Ontario, CA | | — | | 1,820,000.00 | | 9,516,938.27 | | — | | 3,652.60 | | Centre Lake III | | Miami, FL | | — | | 685,601.35 | | 6,039,979.05 | | — | | 728,324.50 | | Champion Oaks | | Houston, TX | | — | | 931,900.00 | | 8,389,393.77 | | — | | 958,039.09 | | Champions Club | | Glen Allen, VA | | — | | 954,000.00 | | 12,417,167.33 | | — | | 512,382.29 | | Chandler Court | | Chandler, AZ | | — | | 1,353,100.00 | | 12,175,172.59 | | — | | 1,986,188.92 | | Chantecleer Lakes | | Naperville, IL | | — | | 6,689,400.00 | | 16,332,279.04 | | — | | 1,127,212.15 | | Chardonnay Park | | Redmond, WA | | 3,289,455.09 | | 1,297,500.00 | | 6,709,092.62 | | — | | 674,516.23 | | Charing Cross | | Bowling Green, OH | | — | | 154,584.44 | | 1,362,057.38 | | — | | 131,712.30 | |
S-1
Description | | Gross Amount Carried at Close of Period 12/31/02 | | Total(B) | | Accumulated Depreciation | | Date of Construction | | Life Used to Compute Depreciation in Latest Income Statement(C) | | Apartment Name | | Location | Land | | Building & Fixtures(A) | Branchwood | | Winter Park, FL | | 324,068.53 | | 3,151,990.07 | | 3,476,058.60 | | (405,502.38 | ) | 1981 | | 30 Years | | Brandon Court | | Bloomington, IN | | 170,635.75 | | 1,791,591.98 | | 1,962,227.73 | | (240,897.75 | ) | 1984 | | 30 Years | | Brandywine E. | | Winter Haven, FL | | 88,126.47 | | 822,343.31 | | 910,469.78 | | (105,033.79 | ) | 1981 | | 30 Years | | Breckinridge | | Lexington, KY | | 1,648,300.00 | | 15,913,383.52 | | 17,561,683.52 | | (3,269,880.10 | ) | 1986-1987 | | 30 Years | | Brentwood | | Vancouver, WA | | 1,357,221.39 | | 13,468,305.61 | | 14,825,527.00 | | (4,108,939.39 | ) | 1990 | | 30 Years | | Breton Mill | | Houston, TX | | 212,820.00 | | 9,647,118.94 | | 9,859,938.94 | | (3,421,526.29 | ) | 1986 | | 30 Years | | Briar Knoll Apts | | Vernon, CT | | 928,971.99 | | 6,398,751.69 | | 7,327,723.68 | | (529,659.75 | ) | 1986 | | 30 Years | | Briarwood (CA) | | Sunnyvale, CA | | 9,991,500.00 | | 22,589,567.61 | | 32,581,067.61 | | (3,529,754.51 | ) | 1985 | | 30 Years | | Bridford Lakes | | Greensboro, NC | | 2,265,314.00 | | 27,217,120.96 | | 29,482,434.96 | | (3,933,130.04 | ) | 1999 | | 30 Years | | Bridge Creek | | Wilsonville, OR | | 1,299,890.00 | | 13,818,889.21 | | 15,118,779.21 | | (5,011,120.31 | ) | 1987 | | 30 Years | | Bridgeport | | Raleigh, NC | | 1,296,700.00 | | 12,754,420.99 | | 14,051,120.99 | | (4,409,859.29 | ) | 1990 | | 30 Years | | Bridgewater at Wells Crossing | | Orange Park, FL | | 2,160,000.00 | | 14,103,708.00 | | 16,263,708.00 | | (1,642,245.52 | ) | 1986 | | 30 Years | | Brierwood | | Jacksonville, FL | | 551,900.00 | | 6,165,617.92 | | 6,717,517.92 | | (1,904,230.66 | ) | 1974 | | 30 Years | | Brittany Square | | Tulsa, OK | | 625,000.00 | | 5,406,124.68 | | 6,031,124.68 | | (3,452,725.42 | ) | 1982 | | 30 Years | | Broadview Oaks (REIT) | | Pensacola, FL | | 201,000.00 | | 1,973,933.90 | | 2,174,933.90 | | (151,993.45 | ) | 1985 | | 30 Years | | Broadway | | Garland, TX | | 1,443,700.00 | | 8,836,827.49 | | 10,280,527.49 | | (1,801,059.82 | ) | 1983 | | 30 Years | | Brookdale Village | | Naperville, IL | | 3,276,000.00 | | 17,179,994.95 | | 20,455,994.95 | | (2,239,335.97 | ) | 1986 | | 30 Years | | Brookfield | | Salt Lake City, UT | | 1,153,000.00 | | 6,197,658.44 | | 7,350,658.44 | | (1,309,197.33 | ) | 1985 | | 30 Years | | Brookridge | | Centreville, VA | | 2,521,500.00 | | 16,852,987.62 | | 19,374,487.62 | | (3,331,704.58 | ) | 1989 | | 30 Years | | Brookside (CO) | | Boulder, CO | | 3,600,400.00 | | 10,454,479.37 | | 14,054,879.37 | | (1,752,699.67 | ) | 1993 | | 30 Years | | Brookside (MD) | | Frederick, MD | | 2,736,000.00 | | 8,743,677.14 | | 11,479,677.14 | | (1,261,896.28 | ) | 1993 | | 30 Years | | Brookside II (MD) | | Frederick, MD | | 2,450,800.00 | | 7,697,330.86 | | 10,148,130.86 | | (1,519,839.53 | ) | 1979 | | 30 Years | | Brookside Place | | Stockton, CA | | 625,000.00 | | 4,777,806.13 | | 5,402,806.13 | | (301,436.41 | ) | 1981 | | 30 Years | | Brooksyde Apts | | West Hartford, CT | | 594,711.19 | | 4,141,904.66 | | 4,736,615.85 | | (339,671.48 | ) | 1945 | | 30 Years | | Burgundy Studios | | Middletown, CT | | 395,238.20 | | 2,780,606.72 | | 3,175,844.92 | | (245,809.12 | ) | 1973 | | 30 Years | | Burwick Farms | | Howell, MI | | 1,104,600.00 | | 10,519,588.23 | | 11,624,188.23 | | (2,221,537.00 | ) | 1991 | | 30 Years | | Calais | | Arlington, TX | | 1,118,900.00 | | 10,950,311.25 | | 12,069,211.25 | | (2,466,978.50 | ) | 1986 | | 30 Years | | Cambridge at Hickory Hollow | | Antioch, TN | | 3,240,800.00 | | 18,673,602.44 | | 21,914,402.44 | | (3,719,177.23 | ) | 1997 | | 30 Years | | Cambridge Commons I | | Indianapolis, IN | | 179,139.19 | | 1,852,055.66 | | 2,031,194.85 | | (288,564.16 | ) | 1986 | | 30 Years | | Cambridge Commons II | | Indianapolis, IN | | 141,845.25 | | 1,459,918.62 | | 1,601,763.87 | | (222,217.38 | ) | 1987 | | 30 Years | | Cambridge Commons III | | Indianapolis, IN | | 98,124.94 | | 1,033,708.49 | | 1,131,833.43 | | (172,280.79 | ) | 1988 | | 30 Years | | Cambridge Estates | | Norwich,CT | | 590,184.84 | | 4,063,240.85 | | 4,653,425.69 | | (333,458.63 | ) | 1977 | | 30 Years | | Cambridge Village | | Lewisville, TX | | 801,300.00 | | 9,524,282.98 | | 10,325,582.98 | | (2,135,449.65 | ) | 1987 | | 30 Years | | Camellero | | Scottsdale, AZ | | 1,924,900.00 | | 20,967,897.34 | | 22,892,797.34 | | (6,711,144.61 | ) | 1979 | | 30 Years | | Camellia Court I (Col) | | Columbus, OH | | 133,058.78 | | 1,305,685.10 | | 1,438,743.88 | | (176,737.77 | ) | 1981 | | 30 Years | | Camellia Court I (Day) | | Dayton, OH | | 131,858.32 | | 1,317,143.81 | | 1,449,002.13 | | (184,513.98 | ) | 1981 | | 30 Years | | Camellia Court II (Col) | | Columbus, OH | | 118,420.87 | | 1,156,213.83 | | 1,274,634.70 | | (148,592.66 | ) | 1984 | | 30 Years | | Camellia Court II (Day) | | Dayton, OH | | 131,570.85 | | 1,263,210.11 | | 1,394,780.96 | | (161,969.15 | ) | 1982 | | 30 Years | | Candlelight I | | Brooksville, FL | | 105,000.27 | | 1,011,881.73 | | 1,116,882.00 | | (134,524.48 | ) | 1982 | | 30 Years | | Candlelight II | | Brooksville, FL | | 95,061.25 | | 934,008.60 | | 1,029,069.85 | | (137,096.98 | ) | 1985 | | 30 Years | | Canterbury | | Germantown, MD | | 2,781,300.00 | | 30,580,378.64 | | 33,361,678.64 | | (9,010,626.91 | ) | 1986 | | 30 Years | | Canterbury Crossings | | Lake Mary, FL | | 273,670.75 | | 2,520,481.81 | | 2,794,152.56 | | (308,966.06 | ) | 1983 | | 30 Years | | Canterchase | | Nashville, TN | | 863,600.00 | | 8,735,757.67 | | 9,599,357.67 | | (2,379,613.81 | ) | 1985 | | 30 Years | | Canyon Creek (CA) | | San Ramon, CA | | 5,425,000.00 | | 17,347,244.03 | | 22,772,244.03 | | (1,027,338.17 | ) | 1984 | | 30 Years | | Canyon Crest | | Santa Clarita, CA | | 2,370,000.00 | | 10,667,191.76 | | 13,037,191.76 | | (1,510,591.80 | ) | 1993 | | 30 Years | | Canyon Ridge | | San Diego, CA | | 4,869,448.00 | | 12,382,438.78 | | 17,251,886.78 | | (2,331,729.52 | ) | 1989 | | 30 Years | | Capital Ridge (REIT) | | Tallahassee, FL | | 177,900.00 | | 1,724,251.75 | | 1,902,151.75 | | (127,298.07 | ) | 1983 | | 30 Years | | Cardinal, The | | Greensboro, NC | | 1,281,200.00 | | 12,266,067.16 | | 13,547,267.16 | | (2,649,958.24 | ) | 1994 | | 30 Years | | Carleton Court (WV) | | Cross Lanes, WV | | 196,222.37 | | 1,856,162.76 | | 2,052,385.13 | | (239,743.87 | ) | 1985 | | 30 Years | | Carmel Terrace | | San Diego, CA | | 2,288,300.00 | | 21,613,908.97 | | 23,902,208.97 | | (6,400,399.66 | ) | 1988-89 | | 30 Years | | Carolina Crossing | | Greenville, SC | | 550,200.00 | | 5,512,584.16 | | 6,062,784.16 | | (1,201,496.58 | ) | 1988-89 | | 30 Years | | Carriage Hill | | Dublin, GA | | 131,910.67 | | 1,217,789.66 | | 1,349,700.33 | | (158,220.02 | ) | 1985 | | 30 Years | | Carriage Homes at Wyndham | | Glen Allen, VA | | 1,736,000.00 | | 27,725,476.16 | | 29,461,476.16 | | (4,105,532.57 | ) | 1999 | | 30 Years | | Casa Capricorn | | San Diego, CA | | 1,262,700.00 | | 12,429,263.46 | | 13,691,963.46 | | (2,882,378.24 | ) | 1981 | | 30 Years | | Casa Ruiz | | San Diego, CA | | 3,922,400.00 | | 10,337,115.76 | | 14,259,515.76 | | (2,106,148.99 | ) | 1976-1986 | | 30 Years | | Cascade at Landmark | | Alexandria, VA | | 3,603,400.00 | | 21,190,879.34 | | 24,794,279.34 | | (4,349,124.95 | ) | 1990 | | 30 Years | | Catalina Shores | | Las Vegas, NV | | 1,227,000.00 | | 12,184,474.03 | | 13,411,474.03 | | (3,892,990.80 | ) | 1989 | | 30 Years | | Cedar Crest | | Overland Park, KS | | 2,160,700.00 | | 22,332,951.26 | | 24,493,651.26 | | (6,069,610.49 | ) | 1986 | | 30 Years | | Cedar Glen | | Reading, MA | | 1,248,505.45 | | 8,469,352.13 | | 9,717,857.58 | | (661,131.16 | ) | 1980 | | 30 Years | | Cedar Hill | | Knoxville, TN | | 204,792.35 | | 1,959,281.23 | | 2,164,073.58 | | (249,114.38 | ) | 1986 | | 30 Years | | Cedargate (GA) | | Lawrenceville, GA | | 205,043.45 | | 1,849,192.89 | | 2,054,236.34 | | (223,172.16 | ) | 1983 | | 30 Years | | Cedargate (MI) | | Michigan City, IN | | 120,378.15 | | 1,121,318.63 | | 1,241,696.78 | | (145,040.73 | ) | 1983 | | 30 Years | | Cedargate (She) | | Shelbyville, KY | | 158,685.33 | | 1,506,815.69 | | 1,665,501.02 | | (190,307.62 | ) | 1984 | | 30 Years | | Cedargate I (Cla) | | Clayton, OH | | 159,599.20 | | 1,573,117.39 | | 1,732,716.59 | | (205,420.59 | ) | 1984 | | 30 Years | | Cedargate I (IN) | | Bloomington, IN | | 191,650.35 | | 1,848,080.44 | | 2,039,730.79 | | (237,488.19 | ) | 1983 | | 30 Years | | Cedargate I (OH) | | Lancaster, OH | | 240,586.83 | | 2,377,389.62 | | 2,617,976.45 | | (308,000.72 | ) | 1982 | | 30 Years | | Cedargate II (IN) | | Bloomington, IN | | 165,040.72 | | 1,575,003.74 | | 1,740,044.46 | | (199,857.85 | ) | 1985 | | 30 Years | | Cedargate II (OH) | | Lancaster, OH | | 87,618.08 | | 872,603.22 | | 960,221.30 | | (120,717.73 | ) | 1983 | | 30 Years | | Cedarwood I (Bel) | | Belpre, OH | | 82,081.62 | | 761,961.00 | | 844,042.62 | | (99,701.97 | ) | 1980 | | 30 Years | | Cedarwood I (FL) | | Ocala, FL | | 119,469.60 | | 1,180,893.71 | | 1,300,363.31 | | (159,545.51 | ) | 1978 | | 30 Years | | Cedarwood I (IN) | | Goshen, IN | | 251,744.93 | | 2,446,320.98 | | 2,698,065.91 | | (316,976.26 | ) | 1983/84 | | 30 Years | | Cedarwood I (KY) | | Lexington, KY | | 106,680.72 | | 1,090,514.52 | | 1,197,195.24 | | (153,954.66 | ) | 1984 | | 30 Years | | Cedarwood II (FL) | | Ocala, FL | | 98,372.48 | | 934,386.86 | | 1,032,759.34 | | (120,360.95 | ) | 1980 | | 30 Years | | Cedarwood II (KY) | | Lexington, KY | | 106,724.20 | | 1,083,768.60 | | 1,190,492.80 | | (150,696.12 | ) | 1986 | | 30 Years | | Cedarwood III (KY) | | Lexington, KY | | 102,491.11 | | 1,013,554.86 | | 1,116,045.97 | | (136,708.05 | ) | 1986 | | 30 Years | | CenterPointe | | Beaverton, OR | | 3,432,000.00 | | 17,158,065.29 | | 20,590,065.29 | | (474,597.59 | ) | 1996 | | 30 Years | | Centre Club | | Ontario, CA | | 5,616,000.00 | | 24,020,646.92 | | 29,636,646.92 | | (1,926,150.41 | ) | 1994 | | 30 Years | | Centre Club II | | Ontario, CA | | 1,820,000.00 | | 9,520,590.87 | | 11,340,590.87 | | (175,281.71 | ) | 2002 | | 30 Years | | Centre Lake III | | Miami, FL | | 685,601.35 | | 6,768,303.55 | | 7,453,904.90 | | (816,358.99 | ) | 1986 | | 30 Years | | Champion Oaks | | Houston, TX | | 931,900.00 | | 9,347,432.86 | | 10,279,332.86 | | (3,111,046.47 | ) | 1984 | | 30 Years | | Champions Club | | Glen Allen, VA | | 954,000.00 | | 12,929,549.62 | | 13,883,549.62 | | (2,083,407.05 | ) | 1988 | | 30 Years | | Chandler Court | | Chandler, AZ | | 1,353,100.00 | | 14,161,361.51 | | 15,514,461.51 | | (4,117,660.75 | ) | 1987 | | 30 Years | | Chantecleer Lakes | | Naperville, IL | | 6,689,400.00 | | 17,459,491.19 | | 24,148,891.19 | | (3,535,914.99 | ) | 1986 | | 30 Years | | Chardonnay Park | | Redmond, WA | | 1,297,500.00 | | 7,383,608.85 | | 8,681,108.85 | | (1,471,436.39 | ) | 1982-1989 | | 30 Years | | Charing Cross | | Bowling Green, OH | | 154,584.44 | | 1,493,769.68 | | 1,648,354.12 | | (191,971.03 | ) | 1978 | | 30 Years | |
S - 2
Cambridge at Hickory Hollow | | Antioch, TN | | | (R | ) | | 3,240,800.00 | | | 17,900,032.88 | | | — | | | 513,242.28 | | | 3,240,800.00 | | | 18,413,275.16 | | | 21,654,075.16 | | | (2,965,734.61 | ) | 1997 | | 30 Years | Cambridge Commons I | | Indianapolis, IN | | | — | | | 179,139.19 | | | 1,578,077.45 | | | — | | | 210,338.44 | | | 179,139.19 | | | 1,788,415.89 | | | 1,967,555.08 | | | (187,197.62 | ) | 1986 | | 30 Years | Cambridge Commons II | | Indianapolis, IN | | | 861,295.19 | | | 141,845.25 | | | 1,249,511.25 | | | — | | | 154,090.97 | | | 141,845.25 | | | 1,403,602.22 | | | 1,545,447.47 | | | (144,312.12 | ) | 1987 | | 30 Years | Cambridge Commons III | | Indianapolis, IN | | | — | | | 98,124.94 | | | 864,737.63 | | | — | | | 133,275.05 | | | 98,124.94 | | | 998,012.68 | | | 1,096,137.62 | | | (110,942.99 | ) | 1988 | | 30 Years | Cambridge Estates | | Norwich,CT | | | — | | | 590,184.84 | | | 3,945,264.85 | | | — | | | 25,087.07 | | | 590,184.84 | | | 3,970,351.92 | | | 4,560,536.76 | | | (174,036.95 | ) | 1977 | | 30 Years | Cambridge Village | | Lewisville, TX | | | — | | | 801,300.00 | | | 8,762,606.48 | | | — | | | 663,182.98 | | | 801,300.00 | | | 9,425,789.46 | | | 10,227,089.46 | | | (1,697,467.32 | ) | 1987 | | 30 Years | Camellero | | Scottsdale, AZ | | | — | | | 1,924,900.00 | | | 17,324,592.87 | | | — | | | 3,494,494.86 | | | 1,924,900.00 | | | 20,819,087.73 | | | 22,743,987.73 | | | (5,603,901.17 | ) | 1979 | | 30 Years | Camellia Court I (Col) | | Columbus, OH | | | — | | | 133,058.78 | | | 1,172,392.84 | | | — | | | 93,286.27 | | | 133,058.78 | | | 1,265,679.11 | | | 1,398,737.89 | | | (116,861.41 | ) | 1981 | | 30 Years | Camellia Court I (Day) | | Dayton, OH | | | 1,070,204.43 | | | 131,858.32 | | | 1,162,065.53 | | | — | | | 118,662.37 | | | 131,858.32 | | | 1,280,727.90 | | | 1,412,586.22 | | | (119,439.33 | ) | 1981 | | 30 Years | Camellia Court II (Col) | | Columbus, OH | | | 923,011.23 | | | 118,420.87 | | | 1,043,416.87 | | | — | | | 84,918.62 | | | 118,420.87 | | | 1,128,335.49 | | | 1,246,756.36 | | | (97,910.95 | ) | 1984 | | 30 Years | Camellia Court II (Day) | | Dayton, OH | | | — | | | 131,570.85 | | | 1,159,282.59 | | | — | | | 80,999.22 | | | 131,570.85 | | | 1,240,281.81 | | | 1,371,852.66 | | | (107,320.86 | ) | 1982 | | 30 Years | Candlelight I | | Brooksville, FL | | | 590,813.82 | | | 105,000.27 | | | 925,166.77 | | | — | | | 60,225.25 | | | 105,000.27 | | | 985,392.02 | | | 1,090,392.29 | | | (87,123.23 | ) | 1982 | | 30 Years | Candlelight II | | Brooksville, FL | | | 584,331.27 | | | 95,061.25 | | | 837,593.20 | | | — | | | 80,781.76 | | | 95,061.25 | | | 918,374.96 | | | 1,013,436.21 | | | (89,164.49 | ) | 1985 | | 30 Years | Canterbury | | Germantown, MD | | | 31,680,000.00 | | | 2,781,300.00 | | | 28,442,497.98 | | | — | | | 1,836,582.23 | | | 2,781,300.00 | | | 30,279,080.21 | | | 33,060,380.21 | | | (7,888,491.45 | ) | 1986 | | 30 Years | Canterbury Crossings | | Lake Mary, FL | | | — | | | 273,670.75 | | | 2,411,537.51 | | | — | | | 75,544.31 | | | 273,670.75 | | | 2,487,081.82 | | | 2,760,752.57 | | | (207,373.46 | ) | 1983 | | 30 Years | Canterchase | | Nashville, TN | | | 5,479,694.72 | | | 863,600.00 | | | 7,762,804.13 | | | — | | | 846,786.55 | | | 863,600.00 | | | 8,609,590.68 | | | 9,473,190.68 | | | (1,991,930.62 | ) | 1985 | | 30 Years | Canyon Creek (CA) | | San Ramon, CA | | | 28,000,000.00 | | | 5,425,000.00 | | | 14,995,051.95 | | | — | | | 63,231.41 | | | 5,425,000.00 | | | 15,058,283.36 | | | 20,483,283.36 | | | (316,420.01 | ) | 1984 | | 30 Years | Canyon Crest | | Santa Clarita, CA | | | — | | | 2,370,000.00 | | | 10,141,878.44 | | | — | | | 472,485.82 | | | 2,370,000.00 | | | 10,614,364.26 | | | 12,984,364.26 | | | (1,066,202.04 | ) | 1993 | | 30 Years | Canyon Crest Views | | Riverside, CA | | | — | | | 1,744,640.00 | | | 17,397,193.87 | | | — | | | 544,750.26 | | | 1,744,640.00 | | | 17,941,944.13 | | | 19,686,584.13 | | | (2,629,440.28 | ) | 1982-1983 | | 30 Years | Canyon Ridge | | San Diego, CA | | | — | | | 4,869,448.00 | | | 11,955,063.50 | | | — | | | 319,153.46 | | | 4,869,448.00 | | | 12,274,216.96 | | | 17,143,664.96 | | | (1,840,448.14 | ) | 1989 | | 30 Years | Canyon Sands | | Pheonix, AZ | | | — | | | 1,492,750.00 | | | 13,377,478.30 | | | — | | | 1,426,202.28 | | | 1,492,750.00 | | | 14,803,680.58 | | | 16,296,430.58 | | | (3,472,368.53 | ) | 1983 | | 30 Years | Capital Ridge (REIT) | | Tallahassee, FL | | | 1,249,709.55 | | | 177,900.00 | | | 1,601,157.16 | | | — | | | 15,560.73 | | | 177,900.00 | | | 1,616,717.89 | | | 1,794,617.89 | | | (59,859.35 | ) | 1983 | | 30 Years | Cardinal, The | | Greensboro, NC | | | — | | | 1,281,200.00 | | | 11,850,556.68 | | | — | | | 321,204.48 | | | 1,281,200.00 | | | 12,171,761.16 | | | 13,452,961.16 | | | (2,171,991.64 | ) | 1994 | | 30 Years | Carleton Court (WV) | | Cross Lanes, WV | | | 1,289,382.56 | | | 196,222.37 | | | 1,728,932.91 | | | — | | | 79,045.82 | | | 196,222.37 | | | 1,807,978.73 | | | 2,004,201.10 | | | (159,289.24 | ) | 1985 | | 30 Years | Carmel Terrace | | San Diego, CA | | | — | | | 2,288,300.00 | | | 20,596,280.88 | | | — | | | 771,032.82 | | | 2,288,300.00 | | | 21,367,313.70 | | | 23,655,613.70 | | | (5,600,962.54 | ) | 1988-89 | | 30 Years | Carolina Crossing | | Greenville, SC | | | — | | | 550,200.00 | | | 4,949,618.55 | | | — | | | 382,636.18 | | | 550,200.00 | | | 5,332,254.73 | | | 5,882,454.73 | | | (941,584.18 | ) | 1988-89 | | 30 Years | Carriage Hill | | Dublin, GA | | | — | | | 131,910.67 | | | 1,162,576.76 | | | — | | | 39,075.19 | | | 131,910.67 | | | 1,201,651.95 | | | 1,333,562.62 | | | (106,534.30 | ) | 1985 | | 30 Years | Carriage Homes at Wyndham | | Glen Allen, VA | | | — | | | 1,736,000.00 | | | 27,476,005.88 | | | — | | | 150,896.35 | | | 1,736,000.00 | | | 27,626,902.23 | | | 29,362,902.23 | | | (3,111,049.42 | ) | 1999 | | 30 Years | Casa Capricorn | | San Diego, CA | | | — | | | 1,262,700.00 | | | 11,365,093.09 | | | — | | | 679,105.81 | | | 1,262,700.00 | | | 12,044,198.90 | | | 13,306,898.90 | | | (2,391,294.95 | ) | 1981 | | 30 Years | Casa Ruiz | | San Diego, CA | | | — | | | 3,922,400.00 | | | 9,389,153.21 | | | — | | | 587,840.90 | | | 3,922,400.00 | | | 9,976,994.11 | | | 13,899,394.11 | | | (1,666,514.65 | ) | 1976-1986 | | 30 Years | Cascade at Landmark | | Alexandria, VA | | | (E | ) | | 3,603,400.00 | | | 19,657,553.75 | | | — | | | 1,098,529.51 | | | 3,603,400.00 | | | 20,756,083.26 | | | 24,359,483.26 | | | (3,493,675.89 | ) | 1990 | | 30 Years | Catalina Shores | | Las Vegas, NV | | | — | | | 1,227,000.00 | | | 11,042,866.93 | | | — | | | 823,925.60 | | | 1,227,000.00 | | | 11,866,792.53 | | | 13,093,792.53 | | | (3,428,995.59 | ) | 1989 | | 30 Years | Cedar Crest | | Overland Park, KS | | | 13,340,785.34 | | | 2,160,700.00 | | | 19,424,617.27 | | | — | | | 2,323,238.97 | | | 2,160,700.00 | | | 21,747,856.24 | | | 23,908,556.24 | | | (5,027,083.92 | ) | 1986 | | 30 Years | Cedar Glen | | Reading, MA | | | 5,051,817.70 | | | 1,248,505.45 | | | 8,346,003.34 | | | — | | | 71,796.67 | | | 1,248,505.45 | | | 8,417,800.01 | | | 9,666,305.46 | | | (350,934.16 | ) | 1980 | | 30 Years | Cedar Hill | | Knoxville, TN | | | 1,422,663.37 | | | 204,792.35 | | | 1,804,443.80 | | | — | | | 90,285.24 | | | 204,792.35 | | | 1,894,729.04 | | | 2,099,521.39 | | | (165,313.07 | ) | 1986 | | 30 Years | Cedar Ridge (TX) | | Arlington, TX | | | 3,399,265.77 | | | 608,600.00 | | | 4,234,415.24 | | | — | | | 148,928.67 | | | 608,600.00 | | | 4,383,343.91 | | | 4,991,943.91 | | | (613,433.65 | ) | 1980 | | 30 Years | Cedargate (GA) | | Lawrenceville, GA | | | — | | | 205,043.45 | | | 1,806,656.21 | | | — | | | 28,868.27 | | | 205,043.45 | | | 1,835,524.48 | | | 2,040,567.93 | | | (152,160.21 | ) | 1983 | | 30 Years | Cedargate (MI) | | Michigan City, IN | | | 779,244.44 | | | 120,378.15 | | | 1,060,662.66 | | | — | | | 44,776.04 | | | 120,378.15 | | | 1,105,438.70 | | | 1,225,816.85 | | | (97,042.22 | ) | 1983 | | 30 Years | Cedargate (She) | | Shelbyville, KY | | | 1,166,923.45 | | | 158,685.33 | | | 1,398,040.66 | | | — | | | 56,715.71 | | | 158,685.33 | | | 1,454,756.37 | | | 1,613,441.70 | | | (126,543.95 | ) | 1984 | | 30 Years | Cedargate I (Cla) | | Clayton, OH | | | 1,206,320.20 | | | 159,599.20 | | | 1,406,492.86 | | | — | | | 134,115.43 | | | 159,599.20 | | | 1,540,608.29 | | | 1,700,207.49 | | | (133,843.34 | ) | 1984 | | 30 Years | Cedargate I (IN) | | Bloomington, IN | | | — | | | 191,650.35 | | | 1,688,648.45 | | | — | | | 106,915.60 | | | 191,650.35 | | | 1,795,564.05 | | | 1,987,214.40 | | | (154,015.68 | ) | 1983 | | 30 Years | Cedargate I (KY) | | Bowling Green, KY | | | — | | | 165,396.51 | | | 1,457,173.52 | | | — | | | 59,546.28 | | | 165,396.51 | | | 1,516,719.80 | | | 1,682,116.31 | | | (132,330.74 | ) | 1983 | | 30 Years | Cedargate I (OH) | | Lancaster, OH | | | 2,217,162.48 | | | 240,586.83 | | | 2,119,432.15 | | | — | | | 130,402.29 | | | 240,586.83 | | | 2,249,834.44 | | | 2,490,421.27 | | | (200,121.72 | ) | 1982 | | 30 Years | Cedargate II (IN) | | Bloomington, IN | | | 1,067,386.82 | | | 165,040.72 | | | 1,454,188.64 | | | — | | | 84,016.86 | | | 165,040.72 | | | 1,538,205.50 | | | 1,703,246.22 | | | (130,931.87 | ) | 1985 | | 30 Years | Cedargate II (KY) | | Bowling Green, KY | | | 1,139,331.37 | | | 140,895.00 | | | 1,241,438.52 | | | — | | | 47,878.32 | | | 140,895.00 | | | 1,289,316.84 | | | 1,430,211.84 | | | (113,176.97 | ) | 1986 | | 30 Years | Cedargate II (OH) | | Lancaster, OH | | | 691,711.73 | | | 87,618.08 | | | 771,911.76 | | | — | | | 85,541.09 | | | 87,618.08 | | | 857,452.85 | | | 945,070.93 | | | (80,052.76 | ) | 1983 | | 30 Years | Cedars, The | | Charlotte, NC | | | — | | | 2,028,179.00 | | | 18,225,424.24 | | | — | | | 807,374.93 | | | 2,028,179.00 | | | 19,032,799.17 | | | 21,060,978.17 | | | (2,985,400.36 | ) | 1983 | | 30 Years | Cedarwood I (Bel) | | Belpre, OH | | | — | | | 82,081.62 | | | 722,449.49 | | | — | | | 27,942.21 | | | 82,081.62 | | | 750,391.70 | | | 832,473.32 | | | (67,355.07 | ) | 1980 | | 30 Years | Cedarwood I (FL) | | Ocala, FL | | | 717,699.45 | | | 119,469.60 | | | 1,052,657.37 | | | — | | | 74,471.96 | | | 119,469.60 | | | 1,127,129.33 | | | 1,246,598.93 | | | (102,791.33 | ) | 1978 | | 30 Years | Cedarwood I (IN) | | Goshen, IN | | | 1,879,233.15 | | | 251,744.93 | | | 2,218,126.20 | | | — | | | 171,844.33 | | | 251,744.93 | | | 2,389,970.53 | | | 2,641,715.46 | | | (206,757.85 | ) | 1983/84 | | 30 Years | Cedarwood I (KY) | | Lexington, KY | | | — | | | 106,680.72 | | | 939,874.44 | | | — | | | 127,767.42 | | | 106,680.72 | | | 1,067,641.86 | | | 1,174,322.58 | | | (97,468.48 | ) | 1984 | | 30 Years | Cedarwood II (FL) | | Ocala, FL | | | 544,213.06 | | | 98,372.48 | | | 866,768.77 | | | — | | | 40,715.63 | | | 98,372.48 | | | 907,484.40 | | | 1,005,856.88 | | | (79,426.69 | ) | 1980 | | 30 Years | Cedarwood II (KY) | | Lexington, KY | | | 975,774.60 | | | 106,724.20 | | | 940,356.51 | | | — | | | 117,170.46 | | | 106,724.20 | | | 1,057,526.97 | | | 1,164,251.17 | | | (94,762.96 | ) | 1986 | | 30 Years | Cedarwood III (KY) | | Lexington, KY | | | 821,067.37 | | | 102,491.11 | | | 902,659.39 | | | — | | | 88,089.02 | | | 102,491.11 | | | 990,748.41 | | | 1,093,239.52 | | | (89,216.64 | ) | 1986 | | 30 Years | Celebration Westchase | | Houston, TX | | | — | | | 2,204,690.00 | | | 6,667,959.73 | | | — | | | 1,322,917.68 | | | 2,204,690.00 | | | 7,990,877.41 | | | 10,195,567.41 | | | (2,998,732.99 | ) | 1979 | | 30 Years | Centre Club | | Ontario, CA | | | — | | | 5,616,000.00 | | | 23,485,891.14 | | | — | | | 354,948.96 | | | 5,616,000.00 | | | 23,840,840.10 | | | 29,456,840.10 | | | (1,007,230.43 | ) | 1994 | | 30 Years | Centre Club II | | Ontario, CA | | | — | | | 1,820,000.00 | | | 5,398,929.20 | | | — | | | — | | | 1,820,000.00 | | | 5,398,929.20 | | | 7,218,929.20 | | | — | | (Z) | | 30 Years | Centre Lake III | | Miami, FL | | | 4,578,383.59 | | | 685,601.35 | | | 6,039,979.05 | | | — | | | 332,299.15 | | | 685,601.35 | | | 6,372,278.20 | | | 7,057,879.55 | | | (533,766.41 | ) | 1986 | | 30 Years | Champion Oaks | | Houston, TX | | | — | | | 931,900.00 | | | 8,389,393.77 | | | — | | | 877,368.89 | | | 931,900.00 | | | 9,266,762.66 | | | 10,198,662.66 | | | (2,727,459.23 | ) | 1984 | | 30 Years | Champions Club | | Glen Allen, VA | | | — | | | 954,000.00 | | | 12,417,167.33 | | | — | | | 444,910.40 | | | 954,000.00 | | | 12,862,077.73 | | | 13,816,077.73 | | | (1,562,771.59 | ) | 1988 | | 30 Years | Chandler Court | | Chandler, AZ | | | — | | | 1,353,100.00 | | | 12,175,172.59 | | | — | | | 1,598,317.16 | | | 1,353,100.00 | | | 13,773,489.75 | | | 15,126,589.75 | | | (3,434,757.23 | ) | 1987 | | 30 Years | Chantecleer Lakes | | Naperville, IL | | | (E | ) | | 6,689,400.00 | | | 16,332,279.04 | | | — | | | 714,700.10 | | | 6,689,400.00 | | | 17,046,979.14 | | | 23,736,379.14 | | | (2,800,050.57 | ) | 1986 | | 30 Years | Chardonnay Park | | Redmond, WA | | | 3,340,330.90 | | | 1,297,500.00 | | | 6,709,092.62 | | | — | | | 453,605.25 | | | 1,297,500.00 | | | 7,162,697.87 | | | 8,460,197.87 | | | (1,162,547.85 | ) | 1982-1989 | | 30 Years | Charing Cross | | Bowling Green, OH | | | 775,033.54 | | | 154,584.44 | | | 1,362,057.38 | | | — | | | 100,292.41 | | | 154,584.44 | | | 1,462,349.79 | | | 1,616,934.23 | | | (123,945.30 | ) | 1978 | | 30 Years | Chartwell Court | | Houston, TX | | | — | | | 1,215,700.00 | | | 12,801,855.12 | | | — | | | 280,443.29 | | | 1,215,700.00 | | | 13,082,298.41 | | | 14,297,998.41 | | | (1,963,433.89 | ) | 1995 | | 30 Years | Chatelaine Park | | Duluth, GA | | | — | | | 1,818,000.00 | | | 24,489,671.38 | | | — | | | 312,108.40 | | | 1,818,000.00 | | | 24,801,779.78 | | | 26,619,779.78 | | | (2,866,825.95 | ) | 1995 | | 30 Years | Chatham Wood | | High Point, NC | | | — | | | 700,000.00 | | | 8,311,883.72 | | | — | | | 268,101.30 | | | 700,000.00 | | | 8,579,985.02 | | | 9,279,985.02 | | | (1,079,112.74 | ) | 1986 | | 30 Years | Chelsea Square | | Redmond, WA | | | — | | | 3,397,100.00 | | | 9,289,074.04 | | | — | | | 187,047.75 | | | 3,397,100.00 | | | 9,476,121.79 | | | 12,873,221.79 | | | (1,210,631.97 | ) | 1991 | | 30 Years | Cherry Creek I,II,&III (TN) | | Hermitage, TN | | | — | | | 2,942,345.09 | | | 45,726,824.03 | | | — | | | 392,495.08 | | | 2,942,345.09 | | | 46,119,319.11 | | | 49,061,664.20 | | | (4,585,915.66 | ) | 1986/96 | | 30 Years | Cherry Glen I | | Indianapolis, IN | | | 3,083,869.68 | | | 335,595.73 | | | 2,957,360.11 | | | — | | | 250,521.79 | | | 335,595.73 | | | 3,207,881.90 | | | 3,543,477.63 | | | (292,981.60 | ) | 1986/87 | | 30 Years | Cherry Hill | | Seattle, WA | | | — | | | 700,100.00 | | | 6,300,112.11 | | | — | | | 165,562.98 | | | 700,100.00 | | | 6,465,675.09 | | | 7,165,775.09 | | | (1,116,662.50 | ) | 1991 | | 30 Years | Cherry Tree | | Rosedale, MD | | | — | | | 352,002.83 | | | 3,101,016.51 | | | — | | | 179,074.17 | | | 352,002.83 | | | 3,280,090.68 | | | 3,632,093.51 | | | (275,892.28 | ) | 1986 | | 30 Years | Chestnut Glen | | Abington, MA | | | 6,700,822.79 | | | 1,178,964.91 | | | 7,881,139.12 | | | — | | | 106,250.97 | | | 1,178,964.91 | | | 7,987,390.09 | | | 9,166,355.00 | | | (337,324.82 | ) | 1983 | | 30 Years | Chestnut Hills | | Puyallup, WA | | | — | | | 756,300.00 | | | 6,806,634.86 | | | — | | | 445,731.92 | | | 756,300.00 | | | 7,252,366.78 | | | 8,008,666.78 | | | (1,315,364.30 | ) | 1991 | | 30 Years | Chicksaw Crossing | | Orlando, FL | | | 11,690,695.53 | | | 2,044,000.00 | | | 12,366,832.33 | | | — | | | 272,345.75 | | | 2,044,000.00 | | | 12,639,178.08 | | | 14,683,178.08 | | | (1,575,450.42 | ) | 1986 | | 30 Years | Chimneys | | Charlotte, NC | | | — | | | 907,100.00 | | | 8,154,673.96 | | | — | | | 571,079.25 | | | 907,100.00 | | | 8,725,753.21 | | | 9,632,853.21 | | | (1,564,188.16 | ) | 1974 | | 30 Years | Cierra Crest | | Denver, CO | | | 21,605,432.18 | | | 4,803,100.00 | | | 34,894,897.55 | | | — | | | 753,442.11 | | | 4,803,100.00 | | | 35,648,339.66 | | | 40,451,439.66 | | | (5,194,934.18 | ) | 1996 | | 30 Years | Cimarron Ridge | | Aurora, CO | | | — | | | 1,591,100.00 | | | 14,320,031.12 | | | — | | | 1,206,882.96 | | | 1,591,100.00 | | | 15,526,914.08 | | | 17,118,014.08 | | | (3,038,325.18 | ) | 1984 | | 30 Years | Claire Point | | Jacksonville, FL | | | — | | | 2,048,000.00 | | | 14,649,393.06 | | | — | | | 536,259.44 | | | 2,048,000.00 | | | 15,185,652.50 | | | 17,233,652.50 | | | (1,862,292.39 | ) | 1986 | | 30 Years | Clarion | | Decatur, GA | | | — | | | 1,504,300.00 | | | 13,537,919.35 | | | — | | | 444,558.05 | | | 1,504,300.00 | | | 13,982,477.40 | | | 15,486,777.40 | | | (2,164,096.21 | ) | 1990 | | 30 Years | Clarys Crossing | | Columbia, MD | | | — | | | 891,000.00 | | | 15,489,720.93 | | | — | | | 380,029.48 | | | 891,000.00 | | | 15,869,750.41 | | | 16,760,750.41 | | | (1,867,682.80 | ) | 1984 | | 30 Years | Classic, The | | Stamford, CT | | | — | | | 2,883,500.00 | | | 20,176,770.97 | | | — | | | 1,224,744.50 | | | 2,883,500.00 | | | 21,401,515.47 | | | 24,285,015.47 | | | (3,215,008.85 | ) | 1990 | | 30 Years | Clearlake Pines II | | Cocoa, FL | | | 867,335.76 | | | 119,279.73 | | | 1,050,834.38 | | | — | | | 84,160.86 | | | 119,279.73 | | | 1,134,995.24 | | | 1,254,274.97 | | | (100,544.21 | ) | 1985 | | 30 Years | Clearview I | | Greenwood, IN | | | 12,735.41 | | | 182,205.53 | | | 1,605,429.32 | | | — | | | 144,119.41 | | | 182,205.53 | | | 1,749,548.73 | | | 1,931,754.26 | | | (157,393.20 | ) | 1986 | | 30 Years | Clearview II | | Greenwood, IN | | | — | | | 226,963.05 | | | 1,999,791.79 | | | — | | | 121,814.64 | | | 226,963.05 | | | 2,121,606.43 | | | 2,348,569.48 | | | (183,216.68 | ) | 1987 | | 30 Years | Clearwater | | Eastlake, OH | | | 1,015,183.04 | | | 128,303.10 | | | 1,130,691.12 | | | — | | | 54,879.99 | | | 128,303.10 | | | 1,185,571.11 | | | 1,313,874.21 | | | (100,681.91 | ) | 1986 | | 30 Years | Cloisters on the Green | | Lexington, KY | | | — | | | 187,074.00 | | | 1,746,721.00 | | | — | | | 2,544,679.65 | | | 187,074.00 | | | 4,291,400.65 | | | 4,478,474.65 | | | (3,472,981.46 | ) | 1974 | | 30 Years | Club at Tanasbourne | | Hillsboro, OR | | | 11,547,930.62 | | | 3,521,300.00 | | | 16,257,934.39 | | | — | | | 1,350,988.86 | | | 3,521,300.00 | | | 17,608,923.25 | | | 21,130,223.25 | | | (3,302,611.91 | ) | 1990 | | 30 Years | Club at the Green | | Beaverton, OR | | | — | | | 2,030,950.00 | | | 12,616,747.23 | | | — | | | 799,604.68 | | | 2,030,950.00 | | | 13,416,351.91 | | | 15,447,301.91 | | | (2,534,537.99 | ) | 1991 | | 30 Years | Coach Lantern | | Scarborough, ME | | | — | | | 452,900.00 | | | 4,405,723.00 | | | — | | | 322,124.96 | | | 452,900.00 | | | 4,727,847.96 | | | 5,180,747.96 | | | (705,843.75 | ) | 1971/1981 | | 30 Years | Coachlight Village | | Agawam, MA | | | 2,096,516.00 | | | 501,725.60 | | | 3,353,932.93 | | | — | | | 22,238.92 | | | 501,725.60 | | | 3,376,171.85 | | | 3,877,897.45 | | | (149,240.79 | ) | 1967 | | 30 Years | Coachman Trails | | Plymouth, MN | | | 6,351,051.96 | | | 1,227,000.00 | | | 9,517,380.81 | | | — | | | 531,237.71 | | | 1,227,000.00 | | | 10,048,618.52 | | | 11,275,618.52 | | | (1,321,656.11 | ) | 1987 | | 30 Years | Cobblestone Village | | Fresno, CA | | | 6,000,000.00 | | | 315,000.00 | | | 4,592,303.30 | | | — | | | 29,570.78 | | | 315,000.00 | | | 4,621,874.08 | | | 4,936,874.08 | | | (117,564.11 | ) | 1983 | | 30 Years | Coconut Palm Club | | Coconut Creek, GA | | | — | | | 3,001,700.00 | | | 17,678,928.33 | | | — | | | 495,261.08 | | | 3,001,700.00 | | | 18,174,189.41 | | | 21,175,889.41 | | | (2,479,483.53 | ) | 1992 | | 30 Years | Colinas Pointe | | Denver, CO | | | (E | ) | | 1,587,400.00 | | | 14,285,902.00 | | | — | | | 455,239.76 | | | 1,587,400.00 | | | 14,741,141.76 | | | 16,328,541.76 | | | (2,573,078.47 | ) | 1986 | | 30 Years | Collier Ridge | | Atlanta, GA | | | — | | | 5,100,000.00 | | | 20,425,822.03 | | | — | | | 1,481,531.83 | | | 5,100,000.00 | | | 21,907,353.86 | | | 27,007,353.86 | | | (2,220,363.81 | ) | 1980 | | 30 Years | Colonial Village | | Plainville,CT | | | 3,584,186.00 | | | 693,575.43 | | | 4,636,409.75 | | | — | | | 70,240.68 | | | 693,575.43 | | | 4,706,650.43 | | | 5,400,225.86 | | | (204,905.83 | ) | 1968 | | 30 Years | Colony Place | | Fort Myers, FL | | | — | | | 1,500,000.00 | | | 20,920,274.21 | | | — | | | 399,976.85 | | | 1,500,000.00 | | | 21,320,251.06 | | | 22,820,251.06 | | | (2,529,166.01 | ) | 1991 | | 30 Years | Colony Woods | | Birmingham, AL | | | — | | | 1,657,300.00 | | | 21,787,685.65 | | | — | | | 399,360.34 | | | 1,657,300.00 | | | 22,187,045.99 | | | 23,844,345.99 | | | (2,835,569.58 | ) | 1991/1994 | | 30 Years | Concord Square (IN) | | Kokomo, IN | | | — | | | 123,246.64 | | | 1,085,962.20 | | | — | | | 35,707.13 | | | 123,246.64 | | | 1,121,669.33 | | | 1,244,915.97 | | | (98,708.91 | ) | 1983 | | 30 Years | Concord Square I (OH) | | Mansfield, OH | | | 1,203,906.57 | | | 164,124.19 | | | 1,446,312.98 | | | — | | | 114,184.73 | | | 164,124.19 | | | 1,560,497.71 | | | 1,724,621.90 | | | (136,705.82 | ) | 1981/83 | | 30 Years | Conway Court | | Roslindale, MA | | | 472,242.53 | | | 101,451.21 | | | 678,180.58 | | | — | | | 6,812.49 | | | 101,451.21 | | | 684,993.07 | | | 786,444.28 | | | (32,491.75 | ) | 1920 | | 30 Years | Conway Station | | Orlando, FL | | | — | | | 1,936,000.00 | | | 10,852,858.15 | | | — | | | 322,579.13 | | | 1,936,000.00 | | | 11,175,437.28 | | | 13,111,437.28 | | | (1,379,992.75 | ) | 1987 | | 30 Years | Copper Canyon | | Highlands Ranch, CO | | | — | | | 1,443,000.00 | | | 16,251,113.68 | | | — | | | 99,810.48 | | | 1,443,000.00 | | | 16,350,924.16 | | | 17,793,924.16 | | | (1,636,856.09 | ) | 1999 | | 30 Years | Copper Creek | | Tempe, AZ | | | — | | | 1,017,400.00 | | | 9,148,067.60 | | | — | | | 522,754.16 | | | 1,017,400.00 | | | 9,670,821.76 | | | 10,688,221.76 | | | (1,706,348.40 | ) | 1984 | | 30 Years | Copper Terrace | | Orlando, FL | | | — | | | 1,200,000.00 | | | 17,887,868.22 | | | — | | | 774,116.82 | | | 1,200,000.00 | | | 18,661,985.04 | | | 19,861,985.04 | | | (2,279,024.26 | ) | 1989 | | 30 Years | Copperfield | | San Antonio, TX | | | — | | | 791,200.00 | | | 7,121,171.12 | | | — | | | 870,703.91 | | | 791,200.00 | | | 7,991,875.03 | | | 8,783,075.03 | | | (1,640,386.62 | ) | 1984 | | 30 Years | Country Brook | | Chandler, AZ | | | — | | | 1,505,219.00 | | | 29,542,534.77 | | | — | | | 704,418.16 | | | 1,505,219.00 | | | 30,246,952.93 | | | 31,752,171.93 | | | (4,452,374.87 | ) | 1986-1996 | | 30 Years | Country Club Place (FL) | | Pembroke Pines, FL | | | — | | | 912,000.00 | | | 10,016,543.20 | | | — | | | 456,025.09 | | | 912,000.00 | | | 10,472,568.29 | | | 11,384,568.29 | | | (1,325,821.33 | ) | 1987 | | 30 Years | Country Club Village | | Mill Creek, WA | | | — | | | 1,150,500.00 | | | 10,352,178.59 | | | — | | | 673,856.59 | | | 1,150,500.00 | | | 11,026,035.18 | | | 12,176,535.18 | | | (1,923,367.89 | ) | 1991 | | 30 Years | Country Club Woods | | Mobile, AL (U | ) | | 4,096,210.72 | | | 230,090.89 | | | 5,561,463.88 | | | — | | | 357,550.58 | | | 230,090.89 | | | 5,919,014.46 | | | 6,149,105.35 | | | (515,339.72 | ) | 1975 | | 30 Years | Country Gables | | Beaverton, OR | | | 7,832,323.50 | | | 2,780,500.00 | | | 14,219,449.24 | | | — | | | 1,983,291.34 | | | 2,780,500.00 | | | 16,202,740.58 | | | 18,983,240.58 | | | (2,912,374.18 | ) | 1991 | | 30 Years |
S-2
Description | | | | Initial Cost to Company | | Cost Capitalized Subsequent to Acquisition (Improvements, net)(E) | | Apartment Name | | Location | | Encumbrances | | Land | | Building & Fixtures | | Land | | Building & Fixtures | | Chartwell Court | | Houston, TX | | — | | 1,215,700.00 | | 12,801,855.12 | | — | | 365,257.93 | | Chatelaine Park | | Duluth, GA | | — | | 1,818,000.00 | | 24,489,671.38 | | — | | 543,813.32 | | Chatham Wood | | High Point, NC | | — | | 700,000.00 | | 8,311,883.72 | | — | | 331,436.73 | | Chelsea Square | | Redmond, WA | | 4,407,582.28 | | 3,397,100.00 | | 9,289,074.04 | | — | | 240,754.26 | | Cherry Creek I, II, & III (TN) | | Hermitage, TN | | — | | 2,942,345.09 | | 45,726,837.84 | | — | | 856,139.74 | | Cherry Glen I | | Indianapolis, IN | | 3,032,014.91 | | 335,595.73 | | 2,957,360.11 | | — | | 312,254.84 | | Cherry Hill | | Seattle, WA | | — | | 700,100.00 | | 6,300,112.11 | | — | | 202,739.80 | | Cherry Tree | | Rosedale, MD | | — | | 352,002.83 | | 3,101,016.51 | | — | | 249,599.94 | | Chestnut Glen | | Abington, MA | | 6,143,479.16 | | 1,178,964.91 | | 7,881,139.12 | | — | | 153,497.58 | | Chestnut Hills | | Puyallup, WA | | — | | 756,300.00 | | 6,806,634.86 | | — | | 528,360.48 | | Chickasaw Crossing | | Orlando, FL | | 11,681,826.99 | | 2,044,000.00 | | 12,366,832.33 | | — | | 370,516.91 | | Chimneys | | Charlotte, NC | | — | | 907,100.00 | | 8,154,673.96 | | — | | 676,694.70 | | Cierra Crest | | Denver, CO | | | (R) | 4,803,100.00 | | 34,894,897.55 | | — | | 858,329.00 | | Cimarron Ridge | | Aurora, CO | | — | | 1,591,100.00 | | 14,320,031.12 | | — | | 1,530,836.66 | | Claire Point | | Jacksonville, FL | | — | | 2,048,000.00 | | 14,649,393.06 | | — | | 657,266.38 | | Clarion | | Decatur, GA | | — | | 1,504,300.00 | | 13,537,919.35 | | — | | 543,982.78 | | Clarys Crossing | | Columbia, MD | | — | | 891,000.00 | | 15,489,720.93 | | — | | 506,790.63 | | Classic, The | | Stamford, CT | | — | | 2,883,500.00 | | 20,250,746.07 | | — | | 1,553,692.75 | | Clearlake Pines II | | Cocoa, FL | | 852,751.45 | | 119,279.73 | | 1,050,834.38 | | — | | 120,192.55 | | Clearview I | | Greenwood, IN | | 12,735.00 | | 182,205.53 | | 1,605,429.32 | | — | | 165,738.29 | | Clearview II | | Greenwood, IN | | — | | 226,963.05 | | 1,999,791.79 | | — | | 135,531.04 | | Clearwater | | Eastlake, OH | | 1,008,377.00 | | 128,303.10 | | 1,130,691.12 | | — | | 99,706.39 | | Cloisters on the Green | | Lexington, KY | | — | | 187,074.00 | | 1,746,721.00 | | — | | 2,898,501.66 | | Club at Tanasbourne | | Hillsboro, OR | | | (Q) | 3,521,300.00 | | 16,257,934.39 | | — | | 1,433,124.28 | | Club at the Green | | Beaverton, OR | | — | | 2,030,950.00 | | 12,616,747.23 | | — | | 906,849.15 | | Coach Lantern | | Scarborough, ME | | — | | 452,900.00 | | 4,405,723.00 | | — | | 343,864.61 | | Coachlight Village | | Agawam, MA | | | (P) | 501,725.60 | | 3,353,932.93 | | — | | 58,361.76 | | Coachman Trails | | Plymouth, MN | | 6,271,987.14 | | 1,227,000.00 | | 9,517,380.81 | | — | | 597,088.00 | | Cobblestone Village | | Fresno, CA | | 6,000,000.00 | | 315,000.00 | | 5,061,625.24 | | — | | 111,569.64 | | Coconut Palm Club | | Coconut Creek, GA | | — | | 3,001,700.00 | | 17,678,928.33 | | — | | 583,000.83 | | Colinas Pointe | | Denver, CO | | — | | 1,587,400.00 | | 14,285,902.00 | | — | | 648,527.29 | | Collier Ridge | | Atlanta, GA | | — | | 5,100,000.00 | | 20,425,822.03 | | — | | 1,629,241.36 | | Colonial Village | | Plainville,CT | | | (P) | 693,575.43 | | 4,636,409.75 | | — | | 297,597.04 | | Colony Place | | Fort Myers, FL | | — | | 1,500,000.00 | | 20,920,274.21 | | — | | 532,472.89 | | Colony Woods | | Birmingham, AL | | — | | 1,657,300.00 | | 21,787,685.65 | | — | | 570,796.68 | | Concord Square (IN) | | Kokomo, IN | | — | | 123,246.64 | | 1,085,962.20 | | — | | 115,666.70 | | Concord Square I (OH) | | Mansfield, OH | | — | | 164,124.19 | | 1,446,312.98 | | — | | 138,643.80 | | Conway Court | | Roslindale, MA | | 455,187.56 | | 101,451.21 | | 678,180.58 | | — | | 15,595.34 | | Conway Station | | Orlando, FL | | — | | 1,936,000.00 | | 10,852,858.15 | | — | | 618,460.25 | | Copper Canyon | | Highlands Ranch, CO | | | (O) | 1,443,000.00 | | 16,251,113.68 | | — | | 145,974.01 | | Copper Creek | | Tempe, AZ | | — | | 1,017,400.00 | | 9,148,067.60 | | — | | 613,795.69 | | Copper Terrace | | Orlando, FL | | — | | 1,200,000.00 | | 17,887,868.22 | | — | | 958,721.37 | | Copperfield | | San Antonio, TX | | — | | 791,200.00 | | 7,121,171.12 | | — | | 968,136.84 | | Country Brook | | Chandler, AZ | | — | | 1,505,219.00 | | 29,542,534.77 | | — | | 952,454.47 | | Country Club Place (FL) | | Pembroke Pines, FL | | — | | 912,000.00 | | 10,016,543.20 | | — | | 707,438.44 | | Country Club Village | | Mill Creek, WA | | — | | 1,150,500.00 | | 10,352,178.59 | | — | | 741,846.88 | | Country Club Woods | | Mobile, AL(T) | | 4,067,771.32 | | 230,090.89 | | 5,561,463.88 | | — | | 480,110.94 | | Country Gables | | Beaverton, OR | | 7,615,681.14 | | 2,780,500.00 | | 14,219,449.24 | | — | | 2,206,840.46 | | Country Oaks | | Agoura Hills, CA | | 29,412,000.00 | | 6,105,000.00 | | 19,963,237.07 | | — | | 284,354.59 | | Country Place | | Birmingham, AL(T) | | 1,746,386.20 | | 75,562.14 | | 1,817,198.29 | | — | | 233,860.97 | | Country Ridge | | Farmington Hills, MI | | | (J) | 1,621,950.00 | | 14,596,964.22 | | — | | 1,619,074.45 | | Countryside I | | Daytona Beach, FL | | — | | 136,664.58 | | 1,204,163.85 | | — | | 195,866.65 | | Countryside II | | Daytona Beach, FL | | — | | 234,633.36 | | 2,067,375.58 | | — | | 147,158.11 | | Countryside III (REIT) | | Daytona Beach, FL | | 403,280.89 | | 80,000.00 | | 719,868.20 | | — | | 36,087.44 | | Countryside Manor | | Douglasville, GA | | — | | 298,186.45 | | 2,627,347.60 | | — | | 235,077.02 | | Cove at Fishers Landing | | Vancouver, WA | | — | | 2,277,000.00 | | 15,656,886.78 | | — | | 25,587.53 | | Coventry at Cityview | | Fort Worth, TX | | — | | 2,160,000.00 | | 23,072,847.21 | | — | | 607,844.59 | | Creekside (San Mateo) | | San Mateo, CA | | | (R) | 9,606,600.00 | | 21,193,231.54 | | — | | 468,753.02 | | Creekside Homes at Legacy | | Plano. TX | | — | | 4,560,000.00 | | 32,275,747.98 | | — | | 572,327.27 | | Creekside Village | | Mountlake Terrace, WA | | 13,342,944.47 | | 2,807,600.00 | | 25,270,593.68 | | — | | 2,066,788.62 | | Creekwood | | Charlotte, NC | | — | | 1,861,700.00 | | 16,740,568.56 | | — | | 1,304,524.51 | | Crescent at Cherry Creek | | Denver, CO | | | (O) | 2,594,000.00 | | 15,149,469.76 | | — | | 558,465.72 | | Cross Creek | | Matthews, NC | | | (R) | 3,151,600.00 | | 20,295,924.81 | | — | | 718,922.40 | | Crosswinds | | St. Petersburg, FL | | — | | 1,561,200.00 | | 5,756,821.52 | | — | | 800,639.16 | | Crown Court | | Scottsdale, AZ | | | (S) | 3,156,600.00 | | 28,414,599.11 | | — | | 1,735,175.66 | | Crystal Creek | | Phoenix, AZ | | — | | 953,500.00 | | 8,581,704.26 | | — | | 1,134,573.38 | | Crystal Village | | Attleboro, MA | | — | | 1,369,000.00 | | 4,989,028.15 | | — | | 684,838.53 | | Cypress | | Panama City, FL | | 1,357,332.70 | | 171,882.34 | | 1,514,635.71 | | — | | 197,879.98 | | Cypress Point | | Las Vegas, NV | | — | | 959,690.00 | | 8,636,550.62 | | — | | 1,292,516.42 | | Daniel Court | | Cincinnati, OH | | 2,243,713.47 | | 334,100.71 | | 2,943,516.33 | | — | | 489,646.57 | | Dartmouth Place I | | Kent, OH | | — | | 151,770.96 | | 1,337,421.54 | | — | | 187,481.27 | | Dartmouth Place II | | Kent, OH | | — | | 130,101.56 | | 1,146,336.54 | | — | | 108,380.16 | | Dartmouth Woods | | Lakewood, CO | | | (J) | 1,609,800.00 | | 10,832,754.24 | | — | | 574,208.17 | | Dean Estates | | Taunton, MA | | — | | 498,079.65 | | 3,329,560.49 | | — | | 66,025.85 | | Dean Estates II | | Cranston, RI | | | (P) | 308,456.89 | | 2,061,971.13 | | — | | 147,356.77 | | Deerbrook | | Jacksonville, FL | | — | | 1,008,000.00 | | 8,845,716.24 | | — | | 509,093.37 | | Deerfield | | Denver, CO | | 9,100,000.00 | | 1,260,000.00 | | 7,747,923.18 | | — | | 276,832.76 | | Deerwood (Corona) | | Corona, CA | | 14,467,908.70 | | 4,742,200.00 | | 20,272,892.01 | | — | | 1,075,335.83 | | Deerwood (FL) | | Eustis, FL | | 834,988.71 | | 114,948.15 | | 1,012,818.51 | | — | | 94,284.49 | | Deerwood (SD) | | San Diego, CA | | — | | 2,082,095.00 | | 18,739,815.37 | | — | | 3,938,068.08 | | Deerwood Meadows | | Greensboro, NC | | — | | 986,743.00 | | 7,204,361.73 | | — | | 1,051,154.17 | | Defoor Village | | Atlanta, GA | | — | | 2,966,400.00 | | 10,570,210.33 | | — | | 249,454.83 | | Desert Homes | | Phoenix, AZ | | — | | 1,481,050.00 | | 13,390,248.53 | | — | | 1,707,951.74 | | Dogwood Glen I | | Indianapolis, IN | | 1,702,607.00 | | 240,854.78 | | 2,122,193.09 | | — | | 180,610.91 | | Dogwood Glen II | | Indianapolis, IN | | 1,292,664.46 | | 202,396.77 | | 1,783,336.09 | | — | | 137,891.25 | |
Description | | Gross Amount Carried at Close of Period 12/31/02 | | Total(B) | | Accumulated Depreciation | | Date of Construction | | Life Used to Compute Depreciation in Latest Income Statement(C) | | Apartment Name | | Location | Land | | Building & Fixtures(A) | Chartwell Court | | Houston, TX | | 1,215,700.00 | | 13,167,113.05 | | 14,382,813.05 | | (2,486,080.58 | ) | 1995 | | 30 Years | | Chatelaine Park | | Duluth, GA | | 1,818,000.00 | | 25,033,484.70 | | 26,851,484.70 | | (3,799,409.75 | ) | 1995 | | 30 Years | | Chatham Wood | | High Point, NC | | 700,000.00 | | 8,643,320.45 | | 9,343,320.45 | | (1,433,287.25 | ) | 1986 | | 30 Years | | Chelsea Square | | Redmond, WA | | 3,397,100.00 | | 9,529,828.30 | | 12,926,928.30 | | (1,579,323.91 | ) | 1991 | | 30 Years | | Cherry Creek I, II, & III (TN) | | Hermitage, TN | | 2,942,345.09 | | 46,582,977.58 | | 49,525,322.67 | | (6,316,753.77 | ) | 1986/96 | | 30 Years | | Cherry Glen I | | Indianapolis, IN | | 335,595.73 | | 3,269,614.95 | | 3,605,210.68 | | (444,481.67 | ) | 1986/87 | | 30 Years | | Cherry Hill | | Seattle, WA | | 700,100.00 | | 6,502,851.91 | | 7,202,951.91 | | (1,365,241.07 | ) | 1991 | | 30 Years | | Cherry Tree | | Rosedale, MD | | 352,002.83 | | 3,350,616.45 | | 3,702,619.28 | | (415,345.85 | ) | 1986 | | 30 Years | | Chestnut Glen | | Abington, MA | | 1,178,964.91 | | 8,034,636.70 | | 9,213,601.61 | | (644,166.24 | ) | 1983 | | 30 Years | | Chestnut Hills | | Puyallup, WA | | 756,300.00 | | 7,334,995.34 | | 8,091,295.34 | | (1,629,220.77 | ) | 1991 | | 30 Years | | Chickasaw Crossing | | Orlando, FL | | 2,044,000.00 | | 12,737,349.24 | | 14,781,349.24 | | (2,094,974.50 | ) | 1986 | | 30 Years | | Chimneys | | Charlotte, NC | | 907,100.00 | | 8,831,368.66 | | 9,738,468.66 | | (1,977,585.17 | ) | 1974 | | 30 Years | | Cierra Crest | | Denver, CO | | 4,803,100.00 | | 35,753,226.55 | | 40,556,326.55 | | (6,554,393.14 | ) | 1996 | | 30 Years | | Cimarron Ridge | | Aurora, CO | | 1,591,100.00 | | 15,850,867.78 | | 17,441,967.78 | | (3,777,019.13 | ) | 1984 | | 30 Years | | Claire Point | | Jacksonville, FL | | 2,048,000.00 | | 15,306,659.44 | | 17,354,659.44 | | (2,501,002.68 | ) | 1986 | | 30 Years | | Clarion | | Decatur, GA | | 1,504,300.00 | | 14,081,902.13 | | 15,586,202.13 | | (2,714,770.16 | ) | 1990 | | 30 Years | | Clarys Crossing | | Columbia, MD | | 891,000.00 | | 15,996,511.56 | | 16,887,511.56 | | (2,496,957.35 | ) | 1984 | | 30 Years | | Classic, The | | Stamford, CT | | 2,883,500.00 | | 21,804,438.82 | | 24,687,938.82 | | (4,145,856.13 | ) | 1990 | | 30 Years | | Clearlake Pines II | | Cocoa, FL | | 119,279.73 | | 1,171,026.93 | | 1,290,306.66 | | (153,224.83 | ) | 1985 | | 30 Years | | Clearview I | | Greenwood, IN | | 182,205.53 | | 1,771,167.61 | | 1,953,373.14 | | (241,191.56 | ) | 1986 | | 30 Years | | Clearview II | | Greenwood, IN | | 226,963.05 | | 2,135,322.83 | | 2,362,285.88 | | (275,261.04 | ) | 1987 | | 30 Years | | Clearwater | | Eastlake, OH | | 128,303.10 | | 1,230,397.51 | | 1,358,700.61 | | (152,049.27 | ) | 1986 | | 30 Years | | Cloisters on the Green | | Lexington, KY | | 187,074.00 | | 4,645,222.66 | | 4,832,296.66 | | (3,703,596.26 | ) | 1974 | | 30 Years | | Club at Tanasbourne | | Hillsboro, OR | | 3,521,300.00 | | 17,691,058.67 | | 21,212,358.67 | | (4,092,301.48 | ) | 1990 | | 30 Years | | Club at the Green | | Beaverton, OR | | 2,030,950.00 | | 13,523,596.38 | | 15,554,546.38 | | (3,126,844.83 | ) | 1991 | | 30 Years | | Coach Lantern | | Scarborough, ME | | 452,900.00 | | 4,749,587.61 | | 5,202,487.61 | | (920,091.38 | ) | 1971/1981 | | 30 Years | | Coachlight Village | | Agawam, MA | | 501,725.60 | | 3,412,294.69 | | 3,914,020.29 | | (281,230.32 | ) | 1967 | | 30 Years | | Coachman Trails | | Plymouth, MN | | 1,227,000.00 | | 10,114,468.81 | | 11,341,468.81 | | (1,756,886.12 | ) | 1987 | | 30 Years | | Cobblestone Village | | Fresno, CA | | 315,000.00 | | 5,173,194.88 | | 5,488,194.88 | | (374,459.16 | ) | 1983 | | 30 Years | | Coconut Palm Club | | Coconut Creek, GA | | 3,001,700.00 | | 18,261,929.16 | | 21,263,629.16 | | (3,218,296.35 | ) | 1992 | | 30 Years | | Colinas Pointe | | Denver, CO | | 1,587,400.00 | | 14,934,429.29 | | 16,521,829.29 | | (3,156,380.97 | ) | 1986 | | 30 Years | | Collier Ridge | | Atlanta, GA | | 5,100,000.00 | | 22,055,063.39 | | 27,155,063.39 | | (3,189,901.24 | ) | 1980 | | 30 Years | | Colonial Village | | Plainville,CT | | 693,575.43 | | 4,934,006.79 | | 5,627,582.22 | | (397,529.48 | ) | 1968 | | 30 Years | | Colony Place | | Fort Myers, FL | | 1,500,000.00 | | 21,452,747.10 | | 22,952,747.10 | | (3,363,215.38 | ) | 1991 | | 30 Years | | Colony Woods | | Birmingham, AL | | 1,657,300.00 | | 22,358,482.33 | | 24,015,782.33 | | (3,715,384.97 | ) | 1991/1994 | | 30 Years | | Concord Square (IN) | | Kokomo, IN | | 123,246.64 | | 1,201,628.90 | | 1,324,875.54 | | (149,432.54 | ) | 1983 | | 30 Years | | Concord Square I (OH) | | Mansfield, OH | | 164,124.19 | | 1,584,956.78 | | 1,749,080.97 | | (206,254.04 | ) | 1981/83 | | 30 Years | | Conway Court | | Roslindale, MA | | 101,451.21 | | 693,775.92 | | 795,227.13 | | (61,772.84 | ) | 1920 | | 30 Years | | Conway Station | | Orlando, FL | | 1,936,000.00 | | 11,471,318.40 | | 13,407,318.40 | | (1,851,055.85 | ) | 1987 | | 30 Years | | Copper Canyon | | Highlands Ranch, CO | | 1,443,000.00 | | 16,397,087.69 | | 17,840,087.69 | | (2,237,642.12 | ) | 1999 | | 30 Years | | Copper Creek | | Tempe, AZ | | 1,017,400.00 | | 9,761,863.29 | | 10,779,263.29 | | (2,114,446.23 | ) | 1984 | | 30 Years | | Copper Terrace | | Orlando, FL | | 1,200,000.00 | | 18,846,589.59 | | 20,046,589.59 | | (3,049,494.18 | ) | 1989 | | 30 Years | | Copperfield | | San Antonio, TX | | 791,200.00 | | 8,089,307.96 | | 8,880,507.96 | | (2,048,754.72 | ) | 1984 | | 30 Years | | Country Brook | | Chandler, AZ | | 1,505,219.00 | | 30,494,989.24 | | 32,000,208.24 | | (5,647,782.47 | ) | 1986-1996 | | 30 Years | | Country Club Place (FL) | | Pembroke Pines, FL | | 912,000.00 | | 10,723,981.64 | | 11,635,981.64 | | (1,775,778.57 | ) | 1987 | | 30 Years | | Country Club Village | | Mill Creek, WA | | 1,150,500.00 | | 11,094,025.47 | | 12,244,525.47 | | (2,378,269.95 | ) | 1991 | | 30 Years | | Country Club Woods | | Mobile, AL(T) | | 230,090.89 | | 6,041,574.82 | | 6,271,665.71 | | (813,593.71 | ) | 1975 | | 30 Years | | Country Gables | | Beaverton, OR | | 2,780,500.00 | | 16,426,289.70 | | 19,206,789.70 | | (3,656,981.98 | ) | 1991 | | 30 Years | | Country Oaks | | Agoura Hills, CA | | 6,105,000.00 | | 20,247,591.66 | | 26,352,591.66 | | (1,186,577.30 | ) | 1985 | | 30 Years | | Country Place | | Birmingham, AL(T) | | 75,562.14 | | 2,051,059.26 | | 2,126,621.40 | | (275,461.71 | ) | 1978 | | 30 Years | | Country Ridge | | Farmington Hills, MI | | 1,621,950.00 | | 16,216,038.67 | | 17,837,988.67 | | (4,055,997.49 | ) | 1986 | | 30 Years | | Countryside I | | Daytona Beach, FL | | 136,664.58 | | 1,400,030.50 | | 1,536,695.08 | | (197,069.57 | ) | 1982 | | 30 Years | | Countryside II | | Daytona Beach, FL | | 234,633.36 | | 2,214,533.69 | | 2,449,167.05 | | (286,145.81 | ) | 1982 | | 30 Years | | Countryside III (REIT) | | Daytona Beach, FL | | 80,000.00 | | 755,955.64 | | 835,955.64 | | (58,560.24 | ) | 1983 | | 30 Years | | Countryside Manor | | Douglasville, GA | | 298,186.45 | | 2,862,424.62 | | 3,160,611.07 | | (367,558.16 | ) | 1985 | | 30 Years | | Cove at Fishers Landing | | Vancouver, WA | | 2,277,000.00 | | 15,682,474.31 | | 17,959,474.31 | | (270,855.49 | ) | 1993 | | 30 Years | | Coventry at Cityview | | Fort Worth, TX | | 2,160,000.00 | | 23,680,691.80 | | 25,840,691.80 | | (3,670,446.57 | ) | 1996 | | 30 Years | | Creekside (San Mateo) | | San Mateo, CA | | 9,606,600.00 | | 21,661,984.56 | | 31,268,584.56 | | (3,505,807.44 | ) | 1985 | | 30 Years | | Creekside Homes at Legacy | | Plano. TX | | 4,560,000.00 | | 32,848,075.25 | | 37,408,075.25 | | (4,952,089.92 | ) | 1998 | | 30 Years | | Creekside Village | | Mountlake Terrace, WA | | 2,807,600.00 | | 27,337,382.30 | | 30,144,982.30 | | (8,470,270.81 | ) | 1987 | | 30 Years | | Creekwood | | Charlotte, NC | | 1,861,700.00 | | 18,045,093.07 | | 19,906,793.07 | | (3,664,190.84 | ) | 1987-1990 | | 30 Years | | Crescent at Cherry Creek | | Denver, CO | | 2,594,000.00 | | 15,707,935.48 | | 18,301,935.48 | | (2,990,039.98 | ) | 1994 | | 30 Years | | Cross Creek | | Matthews, NC | | 3,151,600.00 | | 21,014,847.21 | | 24,166,447.21 | | (3,680,108.69 | ) | 1989 | | 30 Years | | Crosswinds | | St. Petersburg, FL | | 1,561,200.00 | | 6,557,460.68 | | 8,118,660.68 | | (1,649,184.76 | ) | 1986 | | 30 Years | | Crown Court | | Scottsdale, AZ | | 3,156,600.00 | | 30,149,774.77 | | 33,306,374.77 | | (6,506,458.93 | ) | 1987 | | 30 Years | | Crystal Creek | | Phoenix, AZ | | 953,500.00 | | 9,716,277.64 | | 10,669,777.64 | | (3,048,044.12 | ) | 1985 | | 30 Years | | Crystal Village | | Attleboro, MA | | 1,369,000.00 | | 5,673,866.68 | | 7,042,866.68 | | (1,163,484.64 | ) | 1974 | | 30 Years | | Cypress | | Panama City, FL | | 171,882.34 | | 1,712,515.69 | | 1,884,398.03 | | (225,356.64 | ) | 1985 | | 30 Years | | Cypress Point | | Las Vegas, NV | | 959,690.00 | | 9,929,067.04 | | 10,888,757.04 | | (3,294,031.19 | ) | 1989 | | 30 Years | | Daniel Court | | Cincinnati, OH | | 334,100.71 | | 3,433,162.90 | | 3,767,263.61 | | (482,121.21 | ) | 1985 | | 30 Years | | Dartmouth Place I | | Kent, OH | | 151,770.96 | | 1,524,902.81 | | 1,676,673.77 | | (197,151.14 | ) | 1982 | | 30 Years | | Dartmouth Place II | | Kent, OH | | 130,101.56 | | 1,254,716.70 | | 1,384,818.26 | | (157,006.88 | ) | 1986 | | 30 Years | | Dartmouth Woods | | Lakewood, CO | | 1,609,800.00 | | 11,406,962.41 | | 13,016,762.41 | | (2,420,202.76 | ) | 1990 | | 30 Years | | Dean Estates | | Taunton, MA | | 498,079.65 | | 3,395,586.34 | | 3,893,665.99 | | (273,235.04 | ) | 1984 | | 30 Years | | Dean Estates II | | Cranston, RI | | 308,456.89 | | 2,209,327.90 | | 2,517,784.79 | | (184,293.65 | ) | 1970 | | 30 Years | | Deerbrook | | Jacksonville, FL | | 1,008,000.00 | | 9,354,809.61 | | 10,362,809.61 | | (1,575,900.78 | ) | 1983 | | 30 Years | | Deerfield | | Denver, CO | | 1,260,000.00 | | 8,024,755.94 | | 9,284,755.94 | | (542,514.95 | ) | 1983 | | 30 Years | | Deerwood (Corona) | | Corona, CA | | 4,742,200.00 | | 21,348,227.84 | | 26,090,427.84 | | (4,285,068.67 | ) | 1992 | | 30 Years | | Deerwood (FL) | | Eustis, FL | | 114,948.15 | | 1,107,103.00 | | 1,222,051.15 | | (152,179.03 | ) | 1982 | | 30 Years | | Deerwood (SD) | | San Diego, CA | | 2,082,095.00 | | 22,677,883.45 | | 24,759,978.45 | | (8,029,943.51 | ) | 1990 | | 30 Years | | Deerwood Meadows | | Greensboro, NC | | 986,743.00 | | 8,255,515.90 | | 9,242,258.90 | | (3,170,391.22 | ) | 1986 | | 30 Years | | Defoor Village | | Atlanta, GA | | 2,966,400.00 | | 10,819,665.16 | | 13,786,065.16 | | (1,803,784.67 | ) | 1997 | | 30 Years | | Desert Homes | | Phoenix, AZ | | 1,481,050.00 | | 15,098,200.27 | | 16,579,250.27 | | (4,149,985.52 | ) | 1982 | | 30 Years | | Dogwood Glen I | | Indianapolis, IN | | 240,854.78 | | 2,302,804.00 | | 2,543,658.78 | | (298,999.69 | ) | 1986 | | 30 Years | | Dogwood Glen II | | Indianapolis, IN | | 202,396.77 | | 1,921,227.34 | | 2,123,624.11 | | (257,294.89 | ) | 1987 | | 30 Years | |
S - 3
Description | | | | Initial Cost to Company | | Cost Capitalized Subsequent to Acquisition (Improvements, net)(E) | | Apartment Name | | Location | | Encumbrances | | Land | | Building & Fixtures | | Land | | Building & Fixtures | | Dos Caminos | | Scottsdale, AZ | | — | | 1,727,900.00 | | 15,567,778.26 | | — | | 1,145,569.69 | | Dover Place I | | Eastlake, OH | | — | | 244,293.77 | | 2,152,494.39 | | — | | 203,981.26 | | Dover Place II | | Eastlake, OH | | 1,563,616.65 | | 230,895.36 | | 2,034,241.71 | | — | | 119,642.42 | | Dover Place III | | Eastlake, OH | | 740,843.45 | | 119,835.15 | | 1,055,878.24 | | — | | 43,074.27 | | Dover Place IV | | Eastlake, OH | | 1,799,191.13 | | 261,911.97 | | 2,307,729.91 | | — | | 90,444.97 | | Driftwood | | Atlantic Beach, FL | | 346,205.63 | | 126,357.35 | | 1,113,430.46 | | — | | 164,090.16 | | Duraleigh Woods | | Raleigh, NC | | — | | 1,629,000.00 | | 19,917,749.59 | | — | | 1,565,657.65 | | Eagle Canyon | | Chino Hills, CA | | — | | 1,808,900.00 | | 16,274,360.96 | | — | | 774,690.24 | | East Pointe | | Charlotte, NC | | 8,765,736.97 | | 1,365,900.00 | | 12,295,246.21 | | — | | 1,605,146.06 | | Eastbridge | | Dallas, TX | | 8,994,824.56 | | 3,520,000.00 | | 11,860,381.87 | | — | | 200,610.06 | | Edgewater | | Bakersfield, CA | | 11,988,000.00 | | 580,000.00 | | 10,443,373.58 | | — | | 380,647.92 | | Edgewood | | Woodinville, WA | | 5,188,906.51 | | 1,070,100.00 | | 9,632,980.07 | | — | | 919,087.28 | | Elmtree Park I | | Indianapolis, IN | | 1,421,256.96 | | 157,687.17 | | 1,389,620.78 | | — | | 183,155.65 | | Elmtree Park II | | Indianapolis, IN | | 893,556.02 | | 114,114.14 | | 1,005,454.90 | | — | | 148,741.79 | | Elmwood (GA) | | Marietta, GA | | — | | 183,756.45 | | 1,619,094.62 | | — | | 110,628.64 | | Elmwood I (FL) | | W. Palm Beach, FL | | 316,201.53 | | 163,388.66 | | 1,439,632.14 | | — | | 70,658.35 | | Elmwood II (FL) | | W. Palm Beach, FL | | 1,279,156.92 | | 179,743.41 | | 1,582,960.29 | | — | | 100,094.89 | | Emerald Bay | | Winter Park, FL | | — | | 2,161,600.00 | | 13,550,753.15 | | — | | 1,558,841.30 | | Emerald Place | | Bermuda Dunes, CA | | — | | 956,500.00 | | 8,609,599.40 | | — | | 1,039,185.64 | | Emerson Place | | Boston, MA(G) | | — | | 14,855,000.00 | | 57,751,194.60 | | — | | 8,323,911.48 | | Enclave, The | | Tempe, AZ | | | (O) | 1,500,192.00 | | 19,281,398.59 | | — | | 323,982.34 | | Enclave at Winston Park | | Coconut Creek, FL | | — | | 5,560,000.00 | | 19,939,323.93 | | — | | — | | English Hills | | Charlotte, NC | | — | | 1,260,000.00 | | 12,554,291.22 | | — | | 579,637.83 | | Esprit Del Sol | | Solana Beach, CA | | — | | 5,111,200.00 | | 11,910,438.14 | | — | | 534,931.32 | | Essex Place | | Overland Park, KS | | — | | 1,835,400.00 | | 16,513,585.66 | | — | | 3,399,109.21 | | Essex Place (FL) | | Tampa, FL | | — | | 1,188,000.00 | | 7,106,384.37 | | — | | 459,242.31 | | Ethans Glen III | | Kansas City, MO | | 2,364,258.00 | | 246,500.00 | | 2,223,049.34 | | — | | 175,813.08 | | Ethans Ridge I | | Kansas City, MO | | 16,216,607.00 | | 1,948,300.00 | | 17,573,969.73 | | — | | 3,557,481.74 | | Ethans Ridge II | | Kansas City, MO | | 10,981,324.00 | | 1,468,134.66 | | 13,183,141.26 | | — | | 912,070.17 | | Fairfield | | Stamford, CT(G) | | — | | 6,510,200.00 | | 39,690,120.06 | | — | | 503,902.86 | | Fairland Gardens | | Silver Spring, MD | | — | | 6,000,000.00 | | 19,972,183.10 | | — | | 1,364,359.65 | | Farnham Park | | Houston, TX | | 10,980,254.71 | | 1,512,600.00 | | 14,233,759.62 | | — | | 441,361.67 | | Feather River | | Stockton, CA | | 4,867,000.00 | | 770,000.00 | | 4,210,036.16 | | — | | 364,699.10 | | Fernbrook Townhomes | | Plymouth, MN | | 5,070,332.67 | | 580,100.00 | | 6,683,692.61 | | — | | 187,986.39 | | Fireside Park | | Rockville, MD | | 8,280,834.73 | | 4,248,000.00 | | 10,136,319.94 | | — | | 632,203.80 | | Forest Glen | | Pensacola, FL | | — | | 161,548.49 | | 1,423,618.28 | | — | | 210,267.87 | | Forest Place | | Tampa, FL | | 10,481,033.95 | | 1,708,000.00 | | 8,612,028.53 | | — | | 497,819.73 | | Forest Ridge I & II | | Arlington, TX | | | (S) | 2,362,700.00 | | 21,263,294.52 | | — | | 2,223,490.22 | | Forest Village | | Macon, GA | | — | | 224,021.80 | | 1,973,876.21 | | — | | 165,848.39 | | Forsythia Court (KY) | | Louisville, KY | | 1,839,951.39 | | 279,450.32 | | 2,462,186.82 | | — | | 233,850.25 | | Forsythia Court (MD) | | Abingdon, MD | | 2,009,563.46 | | 251,955.21 | | 2,220,099.99 | | — | | 291,809.96 | | Forsythia Court II (MD) | | Abingdon, MD | | — | | 239,833.55 | | 2,113,338.95 | | — | | 227,892.81 | | Fountain Place I | | Eden Prairie, MN | | 24,653,106.00 | | 2,405,068.29 | | 21,694,116.90 | | — | | 907,504.24 | | Fountain Place II | | Eden Prairie, MN | | 12,600,000.00 | | 1,231,349.55 | | 11,095,333.38 | | — | | 338,851.89 | | Fountainhead I | | San Antonio, TX | | | (M) | 1,205,816.00 | | 5,200,240.60 | | — | | 368,227.53 | | Fountainhead II | | San Antonio, TX | | | (M) | 1,205,817.00 | | 4,529,801.24 | | — | | 1,001,985.06 | | Fountainhead III | | San Antonio, TX | | | (M) | 1,205,816.00 | | 4,399,092.50 | | — | | 1,002,629.09 | | Fountains at Flamingo | | Las Vegas, NV | | | (S) | 3,183,100.00 | | 28,650,075.52 | | — | | 1,824,237.60 | | Four Lakes | | Lisle, IL | | — | | 1,868,347.54 | | 10,265,690.03 | | — | | 10,666,254.35 | | Four Lakes 5 | | Lisle, IL | | | (M) | 600,000.00 | | 19,186,686.01 | | — | | 1,655,021.62 | | Four Lakes Athletic Club | | Lisle, IL | | — | | 50,000.00 | | 153,488.68 | | — | | 5,700.00 | | Four Lakes Condo, LLC Phase I | | Lisle, IL | | — | | 51,740.35 | | 268,225.15 | | — | | 652,924.63 | | Four Lakes Condo, LLC Phase II | | Lisle, IL | | — | | 249,541.93 | | 1,281,305.23 | | — | | 2,513,601.64 | | Four Lakes Leasing Center | | Lisle, IL | | — | | 50,000.00 | | 152,815.00 | | — | | 39,396.76 | | Four Winds | | Fall River, MA | | | (P) | 1,370,842.90 | | 9,163,804.20 | | — | | 268,824.80 | | Fox Hill Apartments | | Enfield, CT | | | (P) | 1,129,018.28 | | 7,547,256.07 | | — | | 223,178.51 | | Fox Hill Commons | | Vernon, CT | | | (P) | 478,502.81 | | 3,198,693.32 | | — | | 79,667.55 | | Fox Ridge | | Englewood, CO | | 20,300,000.00 | | 2,490,000.00 | | 17,509,781.22 | | — | | 445,930.47 | | Fox Run (WA) | | Federal Way, WA | | — | | 639,700.00 | | 5,765,017.82 | | — | | 730,270.57 | | Foxcroft | | Scarborough, ME | | — | | 523,400.00 | | 4,527,408.97 | | — | | 342,311.91 | | Foxhaven | | Canton, OH | | — | | 256,820.91 | | 2,263,172.10 | | — | | 278,295.52 | | Foxton (MI) | | Monroe, MI | | — | | 156,362.50 | | 1,377,823.99 | | — | | 93,287.56 | | Foxton II (OH) | | Dayton, OH | | — | | 165,805.54 | | 1,460,832.47 | | — | | 99,827.54 | | Garden Court | | Detriot, MI | | 2,033,915.49 | | 351,531.69 | | 3,096,890.33 | | — | | 151,221.07 | | Garden Lake | | Riverdale, GA | | — | | 1,466,900.00 | | 13,186,716.06 | | — | | 633,784.56 | | Garden Terrace I | | Tampa, FL | | — | | 93,143.89 | | 820,699.22 | | — | | 147,443.55 | | Garden Terrace II | | Tampa, FL | | — | | 97,119.68 | | 855,730.21 | | — | | 117,485.22 | | Gatehouse at Pine Lake | | Pembroke Pines, FL | | — | | 1,896,600.00 | | 17,070,794.56 | | — | | 989,921.49 | | Gatehouse on the Green | | Plantation, FL | | — | | 2,228,200.00 | | 20,056,270.22 | | — | | 1,219,366.84 | | Gates at Carlson Center | | Minnetonka, MN | | | (N) | 4,355,200.00 | | 23,802,816.77 | | — | | 4,054,189.21 | | Gates of Redmond | | Redmond, WA | | — | | 2,306,100.00 | | 12,080,659.89 | | — | | 545,299.38 | | Gateway Villas | | Scottsdale, AZ | | — | | 1,431,048.00 | | 14,926,832.51 | | — | | 308,679.96 | | Geary Court Yard | | San Francisco, CA | | 17,693,865.00 | | 1,722,400.00 | | 15,471,429.16 | | — | | 678,208.44 | | Georgian Woods Combined (REIT) | | Wheaton, MD | | 17,972,883.98 | | 5,038,400.00 | | 28,837,368.82 | | — | | 3,365,054.74 | | Glastonbury Center | | Glastonbury, CT | | 4,113,942.05 | | 852,606.10 | | 5,699,497.28 | | — | | 300,462.68 | | Glen Arm Manor | | Albany, GA | | 1,107,901.64 | | 166,498.48 | | 1,466,883.08 | | — | | 117,763.83 | | Glen Eagle | | Greenville, SC | | — | | 835,900.00 | | 7,523,243.58 | | — | | 346,695.37 | | Glen Grove | | Wellesley, MA | | 4,911,800.50 | | 1,344,601.04 | | 8,988,382.70 | | — | | 109,805.06 | | Glen Meadow | | Franklin, MA | | 2,290,276.57 | | 2,339,330.34 | | 15,637,944.47 | | — | | 989,287.27 | | GlenGarry Club | | Bloomingdale, IL | | | (N) | 3,129,700.00 | | 15,807,888.64 | | — | | 1,146,353.73 | | Glenlake | | Glendale Heights. IL | | 14,845,000.00 | | 5,041,700.00 | | 16,671,969.86 | | — | | 3,497,374.99 | | Glenwood Village | | Macon, GA | | 1,047,357.00 | | 167,778.79 | | 1,478,613.98 | | — | | 187,265.77 | | Gosnold Grove | | East Falmouth, MA | | 654,298.49 | | 124,295.62 | | 830,890.76 | | — | | 76,549.62 | | Governors Pointe | | Roswell, GA | | — | | 3,746,600.00 | | 24,511,111.56 | | — | | 1,832,964.33 | | Gramercy Park | | Houston, TX | | 14,000,000.00 | | 3,957,000.00 | | 22,075,242.53 | | — | | 116,629.33 | |
Description | | Gross Amount Carried at Close of Period 12/31/02 | | | | | | | | Life Used to Compute Depreciation in Latest Income Statement(C) | | Apartment Name | | Location | | Land | | Building & Fixtures(A) | | Total(B) | | Accumulated Depreciation | | Date of Construction | | | Dos Caminos | | Scottsdale, AZ | | 1,727,900.00 | | 16,713,347.95 | | 18,441,247.95 | | (3,691,412.04 | ) | 1983 | | 30 Years | | Dover Place I | | Eastlake, OH | | 244,293.77 | | 2,356,475.65 | | 2,600,769.42 | | (291,524.80 | ) | 1982 | | 30 Years | | Dover Place II | | Eastlake, OH | | 230,895.36 | | 2,153,884.13 | | 2,384,779.49 | | (255,063.07 | ) | 1983 | | 30 Years | | Dover Place III | | Eastlake, OH | | 119,835.15 | | 1,098,952.51 | | 1,218,787.66 | | (127,360.75 | ) | 1983 | | 30 Years | | Dover Place IV | | Eastlake, OH | | 261,911.97 | | 2,398,174.88 | | 2,660,086.85 | | (282,117.56 | ) | 1986 | | 30 Years | | Driftwood | | Atlantic Beach, FL | | 126,357.35 | | 1,277,520.62 | | 1,403,877.97 | | (179,059.61 | ) | 1985 | | 30 Years | | Duraleigh Woods | | Raleigh, NC | | 1,629,000.00 | | 21,483,407.24 | | 23,112,407.24 | | (3,572,396.47 | ) | 1987 | | 30 Years | | Eagle Canyon | | Chino Hills, CA | | 1,808,900.00 | | 17,049,051.20 | | 18,857,951.20 | | (4,007,223.68 | ) | 1985 | | 30 Years | | East Pointe | | Charlotte, NC | | 1,365,900.00 | | 13,900,392.27 | | 15,266,292.27 | | (4,920,207.15 | ) | 1987 | | 30 Years | | Eastbridge | | Dallas, TX | | 3,520,000.00 | | 12,060,991.93 | | 15,580,991.93 | | (565,361.10 | ) | 1998 | | 30 Years | | Edgewater | | Bakersfield, CA | | 580,000.00 | | 10,824,021.50 | | 11,404,021.50 | | (738,742.19 | ) | 1984 | | 30 Years | | Edgewood | | Woodinville, WA | | 1,070,100.00 | | 10,552,067.35 | | 11,622,167.35 | | (3,313,304.50 | ) | 1986 | | 30 Years | | Elmtree Park I | | Indianapolis, IN | | 157,687.17 | | 1,572,776.43 | | 1,730,463.60 | | (218,821.03 | ) | 1986 | | 30 Years | | Elmtree Park II | | Indianapolis, IN | | 114,114.14 | | 1,154,196.69 | | 1,268,310.83 | | (160,383.16 | ) | 1987 | | 30 Years | | Elmwood (GA) | | Marietta, GA | | 183,756.45 | | 1,729,723.26 | | 1,913,479.71 | | (217,070.81 | ) | 1984 | | 30 Years | | Elmwood I (FL) | | W. Palm Beach, FL | | 163,388.66 | | 1,510,290.49 | | 1,673,679.15 | | (187,659.61 | ) | 1984 | | 30 Years | | Elmwood II (FL) | | W. Palm Beach, FL | | 179,743.41 | | 1,683,055.18 | | 1,862,798.59 | | (208,170.31 | ) | 1984 | | 30 Years | | Emerald Bay | | Winter Park, FL | | 2,161,600.00 | | 15,109,594.45 | | 17,271,194.45 | | (3,309,417.24 | ) | 1972 | | 30 Years | | Emerald Place | | Bermuda Dunes, CA | | 956,500.00 | | 9,648,785.04 | | 10,605,285.04 | | (3,308,605.62 | ) | 1988 | | 30 Years | | Emerson Place | | Boston, MA(G) | | 14,855,000.00 | | 66,075,106.08 | | 80,930,106.08 | | (11,341,605.96 | ) | 1962 | | 30 Years | | Enclave, The | | Tempe, AZ | | 1,500,192.00 | | 19,605,380.93 | | 21,105,572.93 | | (3,551,485.39 | ) | 1994 | | 30 Years | | Enclave at Winston Park | | Coconut Creek, FL | | 5,560,000.00 | | 19,939,323.93 | | 25,499,323.93 | | (468,776.53 | ) | 1995 | | 30 Years | | English Hills | | Charlotte, NC | | 1,260,000.00 | | 13,133,929.05 | | 14,393,929.05 | | (2,177,081.00 | ) | 1984 | | 30 Years | | Esprit Del Sol | | Solana Beach, CA | | 5,111,200.00 | | 12,445,369.46 | | 17,556,569.46 | | (2,057,502.27 | ) | 1986 | | 30 Years | | Essex Place | | Overland Park, KS | | 1,835,400.00 | | 19,912,694.87 | | 21,748,094.87 | | (6,788,303.30 | ) | 1970-84 | | 30 Years | | Essex Place (FL) | | Tampa, FL | | 1,188,000.00 | | 7,565,626.68 | | 8,753,626.68 | | (1,266,168.00 | ) | 1989 | | 30 Years | | Ethans Glen III | | Kansas City, MO | | 246,500.00 | | 2,398,862.42 | | 2,645,362.42 | | (501,874.53 | ) | 1990 | | 30 Years | | Ethans Ridge I | | Kansas City, MO | | 1,948,300.00 | | 21,131,451.47 | | 23,079,751.47 | | (3,990,335.46 | ) | 1988 | | 30 Years | | Ethans Ridge II | | Kansas City, MO | | 1,468,134.66 | | 14,095,211.43 | | 15,563,346.09 | | (2,736,624.22 | ) | 1990 | | 30 Years | | Fairfield | | Stamford, CT(G) | | 6,510,200.00 | | 40,194,022.92 | | 46,704,222.92 | | (6,694,497.22 | ) | 1996 | | 30 Years | | Fairland Gardens | | Silver Spring, MD | | 6,000,000.00 | | 21,336,542.75 | | 27,336,542.75 | | (3,156,362.95 | ) | 1981 | | 30 Years | | Farnham Park | | Houston, TX | | 1,512,600.00 | | 14,675,121.29 | | 16,187,721.29 | | (2,662,655.52 | ) | 1996 | | 30 Years | | Feather River | | Stockton, CA | | 770,000.00 | | 4,574,735.26 | | 5,344,735.26 | | (313,061.10 | ) | 1981 | | 30 Years | | Fernbrook Townhomes | | Plymouth, MN | | 580,100.00 | | 6,871,679.00 | | 7,451,779.00 | | (1,104,215.47 | ) | 1993 | | 30 Years | | Fireside Park | | Rockville, MD | | 4,248,000.00 | | 10,768,523.74 | | 15,016,523.74 | | (1,670,828.53 | ) | 1961 | | 30 Years | | Forest Glen | | Pensacola, FL | | 161,548.49 | | 1,633,886.15 | | 1,795,434.64 | | (230,317.96 | ) | 1986 | | 30 Years | | Forest Place | | Tampa, FL | | 1,708,000.00 | | 9,109,848.26 | | 10,817,848.26 | | (1,619,652.78 | ) | 1985 | | 30 Years | | Forest Ridge I & II | | Arlington, TX | | 2,362,700.00 | | 23,486,784.74 | | 25,849,484.74 | | (6,520,120.60 | ) | 1984/85 | | 30 Years | | Forest Village | | Macon, GA | | 224,021.80 | | 2,139,724.60 | | 2,363,746.40 | | (271,297.38 | ) | 1983 | | 30 Years | | Forsythia Court (KY) | | Louisville, KY | | 279,450.32 | | 2,696,037.07 | | 2,975,487.39 | | (339,893.91 | ) | 1985 | | 30 Years | | Forsythia Court (MD) | | Abingdon, MD | | 251,955.21 | | 2,511,909.95 | | 2,763,865.16 | | (316,635.77 | ) | 1986 | | 30 Years | | Forsythia Court II (MD) | | Abingdon, MD | | 239,833.55 | | 2,341,231.76 | | 2,581,065.31 | | (297,546.65 | ) | 1987 | | 30 Years | | Fountain Place I | | Eden Prairie, MN | | 2,405,068.29 | | 22,601,621.14 | | 25,006,689.43 | | (4,345,632.84 | ) | 1989 | | 30 Years | | Fountain Place II | | Eden Prairie, MN | | 1,231,349.55 | | 11,434,185.27 | | 12,665,534.82 | | (2,154,105.29 | ) | 1989 | | 30 Years | | Fountainhead I | | San Antonio, TX | | 1,205,816.00 | | 5,568,468.13 | | 6,774,284.13 | | (3,253,564.89 | ) | 1985/1987 | | 30 Years | | Fountainhead II | | San Antonio, TX | | 1,205,817.00 | | 5,531,786.30 | | 6,737,603.30 | | (3,048,615.89 | ) | 1985/1987 | | 30 Years | | Fountainhead III | | San Antonio, TX | | 1,205,816.00 | | 5,401,721.59 | | 6,607,537.59 | | (2,758,351.47 | ) | 1985/1987 | | 30 Years | | Fountains at Flamingo | | Las Vegas, NV | | 3,183,100.00 | | 30,474,313.12 | | 33,657,413.12 | | (9,127,875.02 | ) | 1989-91 | | 30 Years | | Four Lakes | | Lisle, IL | | 1,868,347.54 | | 20,931,944.38 | | 22,800,291.92 | | (14,111,454.37 | ) | 1968/1988 | | 30 Years | | Four Lakes 5 | | Lisle, IL | | 600,000.00 | | 20,841,707.63 | | 21,441,707.63 | | (10,487,447.42 | ) | 1968/1988 | | 30 Years | | Four Lakes Athletic Club | | Lisle, IL | | 50,000.00 | | 159,188.68 | | 209,188.68 | | (16,667.04 | ) | N/A | | 30 Years | | Four Lakes Condo, LLC Phase I | | Lisle, IL | | 51,740.35 | | 921,149.78 | | 972,890.13 | | — | | 1968/1988 | | 30 Years | | Four Lakes Condo, LLC Phase II | | Lisle, IL | | 249,541.93 | | 3,794,906.87 | | 4,044,448.80 | | (1,472,724.80 | ) | 1968/1988 | | 30 Years | | Four Lakes Leasing Center | | Lisle, IL | | 50,000.00 | | 192,211.76 | | 242,211.76 | | (34,065.55 | ) | N/A | | 30 Years | | Four Winds | | Fall River, MA | | 1,370,842.90 | | 9,432,629.00 | | 10,803,471.90 | | (761,042.53 | ) | 1987 | | 30 Years | | Fox Hill Apartments | | Enfield, CT | | 1,129,018.28 | | 7,770,434.58 | | 8,899,452.86 | | (641,975.45 | ) | 1974 | | 30 Years | | Fox Hill Commons | | Vernon, CT | | 478,502.81 | | 3,278,360.87 | | 3,756,863.68 | | (271,378.41 | ) | 1965 | | 30 Years | | Fox Ridge | | Englewood, CO | | 2,490,000.00 | | 17,955,711.69 | | 20,445,711.69 | | (1,132,978.16 | ) | 1984 | | 30 Years | | Fox Run (WA) | | Federal Way, WA | | 639,700.00 | | 6,495,288.39 | | 7,134,988.39 | | (2,234,238.32 | ) | 1988 | | 30 Years | | Foxcroft | | Scarborough, ME | | 523,400.00 | | 4,869,720.88 | | 5,393,120.88 | | (957,438.16 | ) | 1977/1979 | | 30 Years | | Foxhaven | | Canton, OH | | 256,820.91 | | 2,541,467.62 | | 2,798,288.53 | | (335,402.31 | ) | 1986 | | 30 Years | | Foxton (MI) | | Monroe, MI | | 156,362.50 | | 1,471,111.55 | | 1,627,474.05 | | (183,740.01 | ) | 1983 | | 30 Years | | Foxton II (OH) | | Dayton, OH | | 165,805.54 | | 1,560,660.01 | | 1,726,465.55 | | (204,764.07 | ) | 1983 | | 30 Years | | Garden Court | | Detriot, MI | | 351,531.69 | | 3,248,111.40 | | 3,599,643.09 | | (392,673.11 | ) | 1988 | | 30 Years | | Garden Lake | | Riverdale, GA | | 1,466,900.00 | | 13,820,500.62 | | 15,287,400.62 | | (2,843,435.27 | ) | 1991 | | 30 Years | | Garden Terrace I | | Tampa, FL | | 93,143.89 | | 968,142.77 | | 1,061,286.66 | | (145,960.17 | ) | 1981 | | 30 Years | | Garden Terrace II | | Tampa, FL | | 97,119.68 | | 973,215.43 | | 1,070,335.11 | | (141,315.84 | ) | 1982 | | 30 Years | | Gatehouse at Pine Lake | | Pembroke Pines, FL | | 1,896,600.00 | | 18,060,716.05 | | 19,957,316.05 | | (4,229,804.71 | ) | 1990 | | 30 Years | | Gatehouse on the Green | | Plantation, FL | | 2,228,200.00 | | 21,275,637.06 | | 23,503,837.06 | | (5,006,617.85 | ) | 1990 | | 30 Years | | Gates at Carlson Center | | Minnetonka, MN | | 4,355,200.00 | | 27,857,005.98 | | 32,212,205.98 | | (4,661,523.54 | ) | 1989 | | 30 Years | | Gates of Redmond | | Redmond, WA | | 2,306,100.00 | | 12,625,959.27 | | 14,932,059.27 | | (2,566,924.52 | ) | 1979 | | 30 Years | | Gateway Villas | | Scottsdale, AZ | | 1,431,048.00 | | 15,235,512.47 | | 16,666,560.47 | | (2,782,752.78 | ) | 1995 | | 30 Years | | Geary Court Yard | | San Francisco, CA | | 1,722,400.00 | | 16,149,637.60 | | 17,872,037.60 | | (2,989,731.36 | ) | 1990 | | 30 Years | | Georgian Woods Combined (REIT) | | Wheaton, MD | | 5,038,400.00 | | 32,202,423.56 | | 37,240,823.56 | | (8,769,466.74 | ) | 1967 | | 30 Years | | Glastonbury Center | | Glastonbury, CT | | 852,606.10 | | 5,999,959.96 | | 6,852,566.06 | | (488,619.13 | ) | 1962 | | 30 Years | | Glen Arm Manor | | Albany, GA | | 166,498.48 | | 1,584,646.91 | | 1,751,145.39 | | (207,543.74 | ) | 1986 | | 30 Years | | Glen Eagle | | Greenville, SC | | 835,900.00 | | 7,869,938.95 | | 8,705,838.95 | | (1,624,658.17 | ) | 1990 | | 30 Years | | Glen Grove | | Wellesley, MA | | 1,344,601.04 | | 9,098,187.76 | | 10,442,788.80 | | (714,185.10 | ) | 1979 | | 30 Years | | Glen Meadow | | Franklin, MA | | 2,339,330.34 | | 16,627,231.74 | | 18,966,562.08 | | (1,425,767.37 | ) | 1971 | | 30 Years | | GlenGarry Club | | Bloomingdale, IL | | 3,129,700.00 | | 16,954,242.37 | | 20,083,942.37 | | (3,218,038.67 | ) | 1989 | | 30 Years | | Glenlake | | Glendale Heights. IL | | 5,041,700.00 | | 20,169,344.85 | | 25,211,044.85 | | (3,871,184.20 | ) | 1988 | | 30 Years | | Glenwood Village | | Macon, GA | | 167,778.79 | | 1,665,879.75 | | 1,833,658.54 | | (210,159.83 | ) | 1986 | | 30 Years | | Gosnold Grove | | East Falmouth, MA | | 124,295.62 | | 907,440.38 | | 1,031,736.00 | | (83,382.84 | ) | 1978 | | 30 Years | | Governors Pointe | | Roswell, GA | | 3,746,600.00 | | 26,344,075.89 | | 30,090,675.89 | | (5,479,414.18 | ) | 1982-1986 | | 30 Years | | Gramercy Park | | Houston, TX | | 3,957,000.00 | | 22,191,871.86 | | 26,148,871.86 | | (620,822.93 | ) | 1998 | | 30 Years | |
S - 4
Description | | | | Initial Cost to Company | | Cost Capitalized Subsequent to Acquisition (Improvements, net) (E) | | Apartment Name | | Location | | Encumbrances | | Land | | Building & Fixtures | | Land | | Building & Fixtures | | Granada Highlands | | Malden, MA(G) | | — | | 28,210,000.00 | | 99,944,576.46 | | — | | 4,083,391.57 | | Grand Reserve | | Woodbury, MN | | — | | 4,728,000.00 | | 49,541,641.99 | | — | | 251,353.46 | | Grandview I & II | | Las Vegas, NV | | — | | 2,333,300.00 | | 15,527,831.02 | | — | | 1,542,204.68 | | Greenbriar (AL) | | Montgomery, AL(T) | | 1,674,630.50 | | 94,355.62 | | 2,051,619.25 | | — | | 133,053.67 | | Greenbriar Glen | | Altlanta, GA | | 1,457,966.40 | | 227,701.24 | | 2,006,246.10 | | — | | 77,607.16 | | Greenfield Village | | Rocky Hill , CT | | — | | 911,534.03 | | 6,093,418.42 | | — | | 80,399.19 | | Greengate (FL) | | W. Palm Beach, FL | | 2,607,032.18 | | 2,500,000.00 | | 1,615,858.84 | | — | | 198,120.02 | | Greenglen (Day) | | Dayton, OH | | — | | 204,289.28 | | 1,800,172.18 | | — | | 169,968.66 | | Greenglen II (Tol) | | Toledo, OH | | — | | 162,263.62 | | 1,429,719.33 | | — | | 72,625.75 | | Greenhaven | | Union City, CA | | 10,975,000.00 | | 7,507,000.00 | | 15,210,398.75 | | — | | 914,583.82 | | Greenhouse - Frey Road | | Kennesaw, GA | | | (M) | 2,467,200.00 | | 22,187,443.25 | | — | | 2,561,509.24 | | Greenhouse - Holcomb Bridge | | Alpharetta, GA | | | (M) | 2,143,300.00 | | 19,291,427.17 | | — | | 2,484,583.36 | | Greenhouse - Roswell | | Roswell, GA | | | (M) | 1,220,000.00 | | 10,974,727.39 | | — | | 1,596,829.74 | | Greentree 1 | | Glen Burnie, MD | | 11,101,419.84 | | 3,912,968.00 | | 11,784,020.85 | | — | | 1,247,306.57 | | Greentree 2 | | Glen Burnie, MD | | — | | 2,700,000.00 | | 8,246,736.65 | | — | | 667,123.44 | | Greentree 3 | | Glen Burnie, MD | | — | | 2,380,443.00 | | 7,270,294.04 | | — | | 525,049.86 | | Greentree I (GA) (REIT) | | Thomasville, GA | | 658,821.21 | | 84,750.00 | | 762,659.20 | | — | | 43,530.98 | | Greentree II (GA) (REIT) | | Thomasville, GA | | 495,895.84 | | 81,000.00 | | 729,283.17 | | — | | 45,030.62 | | Greenwood Village | | Tempe, AZ | | — | | 2,118,781.00 | | 17,274,215.96 | | — | | 1,004,654.49 | | Grey Eagle | | Taylors, SC | | — | | 727,600.00 | | 6,547,650.42 | | — | | 238,937.51 | | Greystone | | Atlanta, GA | | — | | 2,252,000.00 | | 5,204,900.59 | | — | | 1,568,316.95 | | Gwinnett Crossing | | Duluth, GA | | — | | 2,632,000.00 | | 32,016,495.96 | | — | | 1,761,687.24 | | Hall Place | | Quincy, MA | | — | | 3,150,800.00 | | 5,121,949.51 | | — | | 274,855.88 | | Hammocks Place | | Miami, FL | | | (L) | 319,180.00 | | 12,513,466.73 | | — | | 1,241,561.83 | | Hampshire II | | Elyria, OH | | 825,568.17 | | 126,231.36 | | 1,112,035.85 | | — | | 76,965.28 | | Hamptons | | Puyallup, WA | | — | | 1,119,200.00 | | 10,075,844.29 | | — | | 538,188.51 | | Harbinwood | | Norcross, GA | | — | | 236,760.99 | | 2,086,122.35 | | — | | 174,672.23 | | Harbor Pointe | | Milwaukee, WI | | 12,000,000.00 | | 2,979,800.00 | | 22,096,545.77 | | — | | 2,332,392.77 | | Harborview | | Rancho Palos Verdes, CA | | — | | 6,402,500.00 | | 12,627,346.89 | | — | | 646,119.89 | | Harbour Town | | Boca Raton, FL | | — | | 11,760,000.00 | | 20,190,252.11 | | — | | 2,377,097.51 | | Harrison Park | | Tucson, AZ | | — | | 1,265,094.00 | | 16,342,321.80 | | — | | 600,309.91 | | Hartwick | | Tipton, IN | | 106,072.00 | | 123,790.52 | | 1,090,729.42 | | — | | 84,159.84 | | Harvest Grove I | | Gahanna, OH | | 1,564,099.40 | | 170,334.08 | | 1,500,231.87 | | — | | 180,128.58 | | Harvest Grove II | | Gahanna, OH | | — | | 148,791.56 | | 1,310,817.80 | | — | | 62,628.09 | | Hatcherway | | Waycross, GA | | 711,447.97 | | 96,885.44 | | 853,716.34 | | — | | 181,863.88 | | Hathaway | | Long Beach, CA | | — | | 2,512,500.00 | | 22,611,911.55 | | — | | 1,511,764.08 | | Hayfield Park | | Burlington, KY | | 1,534,250.00 | | 261,456.81 | | 2,303,394.44 | | — | | 168,846.08 | | Haywood Pointe | | Greenville, SC | | — | | 480,000.00 | | 9,163,270.88 | | — | | 479,642.40 | | Hearthstone | | San Antonio, TX | | — | | 1,035,900.00 | | 3,525,388.03 | | — | | 1,307,393.30 | | Heathmoore (Eva) | | Evansville, IN | | 1,091,492.02 | | 162,374.53 | | 1,430,746.53 | | — | | 170,996.23 | | Heathmoore (KY) | | Louisville, KY | | — | | 156,839.84 | | 1,381,729.91 | | — | | 156,318.47 | | Heathmoore (MI) | | Clinton Twp., MI | | 1,647,464.38 | | 227,105.01 | | 2,001,242.63 | | — | | 136,372.38 | | Heathmoore I (IN) | | Indianapolis, IN | | 1,183,802.53 | | 144,556.70 | | 1,273,702.04 | | — | | 158,855.59 | | Heathmoore I (MI) | | Canton, MI | | 1,521,755.00 | | 232,063.87 | | 2,044,226.60 | | — | | 162,026.67 | | Heathmoore II (MI) | | Canton, MI | | — | | 170,432.57 | | 1,501,696.63 | | — | | 91,630.65 | | Heritage Green | | Sturbridge, MA | | 3,461,827.83 | | 835,313.22 | | 5,583,897.92 | | — | | 144,013.11 | | Heritage, The | | Phoenix, AZ | | — | | 1,211,205.00 | | 13,136,903.36 | | — | | 365,850.25 | | Heron Cove | | Coral Springs, FL | | — | | 823,000.00 | | 8,114,761.58 | | — | | 951,612.87 | | Heron Pointe | | Boynton Beach, FL | | — | | 1,546,700.00 | | 7,774,676.05 | | — | | 744,018.59 | | Heron Pointe (Atl) | | Atlantic Beach, FL | | 1,566,550.00 | | 214,332.10 | | 1,888,814.41 | | — | | 241,582.35 | | Heron Run | | Plantation, FL | | — | | 917,800.00 | | 9,006,476.14 | | — | | 1,036,486.14 | | Heronwood (REIT) | | Ft. Myers, FL | | 1,202,904.41 | | 146,100.00 | | 1,315,210.70 | | — | | 57,506.67 | | Hessian Hills | | Charlottesville, VA(T) | | 5,146,365.30 | | 181,229.43 | | 5,024,414.55 | | — | | 265,242.36 | | Hickory Creek | | Richmond, VA | | — | | 1,323,000.00 | | 18,520,609.01 | | — | | 644,449.61 | | Hickory Mill | | Hillard, OH | | — | | 161,714.41 | | 1,424,682.19 | | — | | 145,881.17 | | Hickory Mill I | | Hurricane, WV | | 899,595.36 | | 129,186.80 | | 1,138,301.52 | | — | | 79,827.05 | | Hickory Place | | Gainesville, FL | | 1,288,185.25 | | 192,453.32 | | 1,695,454.44 | | — | | 203,987.89 | | Hickory Ridge | | Greenville, SC | | — | | 288,200.00 | | 2,591,929.81 | | — | | 380,093.63 | | Hidden Acres | | Sarasota, FL | | 1,601,965.00 | | 253,138.81 | | 2,230,578.76 | | — | | 151,166.40 | | Hidden Lake | | Sacramento, CA | | 15,165,000.00 | | 1,715,000.00 | | 11,776,407.80 | | — | | 185,613.75 | | Hidden Lakes | | Haltom City, TX | | — | | 1,872,000.00 | | 20,242,108.80 | | — | | 656,552.40 | | Hidden Oaks | | Cary, NC | | — | | 1,178,600.00 | | 10,614,135.38 | | — | | 1,103,827.92 | | Hidden Palms | | Tampa, FL | | — | | 2,049,600.00 | | 6,345,884.76 | | — | | 1,026,662.10 | | Hidden Pines | | Casselberry, FL | | 19,561.52 | | 176,307.96 | | 1,553,565.25 | | — | | 235,502.15 | | Hidden Valley Club | | Ann Arbor, MI | | — | | 915,000.00 | | 6,667,098.00 | | — | | 2,833,997.62 | | High Meadow | | Ellington, CT | | 4,220,474.15 | | 583,678.94 | | 3,901,774.26 | | — | | 126,849.72 | | High Points | | New Port Richey, FL | | — | | 222,307.63 | | 1,958,772.47 | | — | | 282,271.62 | | High River | | Tuscaloosa, AL(T) | | 3,553,180.17 | | 208,107.70 | | 3,663,221.04 | | — | | 410,682.35 | | Highland Creste | | Kent, WA | | — | | 935,200.00 | | 8,415,391.11 | | — | | 751,649.09 | | Highland Glen | | Westwood, MA | | — | | 2,832,603.49 | | 17,010,687.92 | | — | | 112,008.35 | | Highland Point | | Aurora, CO | | | (Q) | 1,631,900.00 | | 14,684,438.62 | | — | | 1,011,998.88 | | Highline Oaks | | Denver, CO | | | (M) | 1,057,400.00 | | 9,340,248.56 | | — | | 956,003.20 | | Hillcrest Villas | | Crestview, FL | | 942,590.33 | | 141,603.03 | | 1,247,677.02 | | — | | 146,266.81 | | Hillside Manor | | Americus, GA | | — | | 102,632.19 | | 904,111.39 | | — | | 213,350.07 | | Hillside Trace | | Dade City, FL | | 1,004,497.41 | | 138,888.03 | | 1,223,754.94 | | — | | 157,963.50 | | Holly Ridge | | Pembroke Park, FL | | — | | 295,595.67 | | 2,603,985.01 | | — | | 301,342.71 | | Holly Sands I | | Ft. Walton Bch.,FL | | — | | 190,942.32 | | 1,682,524.45 | | — | | 216,013.13 | | Holly Sands II | | Ft. Walton Bch., FL | | 1,009,375.00 | | 124,577.52 | | 1,098,074.21 | | — | | 132,341.66 | | Horizon Place | | Tampa, FL | | 12,280,175.29 | | 2,128,000.00 | | 12,086,936.72 | | — | | 710,629.33 | | Hunt Club | | Charlotte, NC | | — | | 1,090,000.00 | | 17,992,887.39 | | — | | 523,705.81 | | Hunters Green | | Fort Worth, TX | | — | | 524,300.00 | | 3,653,480.73 | | — | | 1,068,318.41 | | Hunters Ridge | | St. Louis, MO | | 11,055,000.00 | | 994,500.00 | | 8,913,996.59 | | — | | 1,133,917.19 | | Huntington Park | | Everett, WA | | — | | 1,597,500.00 | | 14,367,863.91 | | — | | 1,232,901.67 | | Independence Village | | Reynoldsbury, OH | | — | | 226,987.89 | | 2,000,010.69 | | — | | 238,811.37 | | Indian Bend | | Scottsdale, AZ | | — | | 1,075,700.00 | | 9,675,133.10 | | — | | 1,640,179.85 | |
Description | | Gross Amount Carried at Close of Period 12/31/02 | | | | | | | | Life Used to Compute Depreciation in Latest Income Statement(C) | | Apartment Name | | Location | | Land | | Building & Fixtures(A) | | Total(B) | | Accumulated Depreciation | | Date of Construction | | | Granada Highlands | | Malden, MA(G) | | 28,210,000.00 | | 104,027,968.03 | | 132,237,968.03 | | (11,868,269.06 | ) | 1972 | | 30 Years | | Grand Reserve | | Woodbury, MN | | 4,728,000.00 | | 49,792,995.45 | | 54,520,995.45 | | (3,347,649.75 | ) | 2000 | | 30 Years | | Grandview I & II | | Las Vegas, NV | | 2,333,300.00 | | 17,070,035.70 | | 19,403,335.70 | | (2,998,040.47 | ) | 1980 | | 30 Years | | Greenbriar (AL) | | Montgomery, AL(T) | | 94,355.62 | | 2,184,672.92 | | 2,279,028.54 | | (290,927.76 | ) | 1979 | | 30 Years | | Greenbriar Glen | | Altlanta, GA | | 227,701.24 | | 2,083,853.26 | | 2,311,554.50 | | (252,562.80 | ) | 1988 | | 30 Years | | Greenfield Village | | Rocky Hill , CT | | 911,534.03 | | 6,173,817.61 | | 7,085,351.64 | | (511,222.48 | ) | 1965 | | 30 Years | | Greengate (FL) | | W. Palm Beach, FL | | 2,500,000.00 | | 1,813,978.86 | | 4,313,978.86 | | (192,295.59 | ) | 1987 | | 30 Years | | Greenglen (Day) | | Dayton, OH | | 204,289.28 | | 1,970,140.84 | | 2,174,430.12 | | (251,941.67 | ) | 1983 | | 30 Years | | Greenglen II (Tol) | | Toledo, OH | | 162,263.62 | | 1,502,345.08 | | 1,664,608.70 | | (185,332.01 | ) | 1982 | | 30 Years | | Greenhaven | | Union City, CA | | 7,507,000.00 | | 16,124,982.57 | | 23,631,982.57 | | (2,695,704.80 | ) | 1983 | | 30 Years | | Greenhouse - Frey Road | | Kennesaw, GA | | 2,467,200.00 | | 24,748,952.49 | | 27,216,152.49 | | (8,010,871.54 | ) | 1985 | | 30 Years | | Greenhouse - Holcomb Bridge | | Alpharetta, GA | | 2,143,300.00 | | 21,776,010.53 | | 23,919,310.53 | | (7,125,888.53 | ) | 1985 | | 30 Years | | Greenhouse - Roswell | | Roswell, GA | | 1,220,000.00 | | 12,571,557.13 | | 13,791,557.13 | | (4,163,343.37 | ) | 1985 | | 30 Years | | Greentree 1 | | Glen Burnie, MD | | 3,912,968.00 | | 13,031,327.42 | | 16,944,295.42 | | (1,974,773.83 | ) | 1973 | | 30 Years | | Greentree 2 | | Glen Burnie, MD | | 2,700,000.00 | | 8,913,860.09 | | 11,613,860.09 | | (1,258,263.63 | ) | 1973 | | 30 Years | | Greentree 3 | | Glen Burnie, MD | | 2,380,443.00 | | 7,795,343.90 | | 10,175,786.90 | | (1,119,577.69 | ) | 1973 | | 30 Years | | Greentree I (GA) (REIT) | | Thomasville, GA | | 84,750.00 | | 806,190.18 | | 890,940.18 | | (65,259.16 | ) | 1983 | | 30 Years | | Greentree II (GA) (REIT) | | Thomasville, GA | | 81,000.00 | | 774,313.79 | | 855,313.79 | | (60,430.40 | ) | 1984 | | 30 Years | | Greenwood Village | | Tempe, AZ | | 2,118,781.00 | | 18,278,870.45 | | 20,397,651.45 | | (3,603,716.18 | ) | 1984 | | 30 Years | | Grey Eagle | | Taylors, SC | | 727,600.00 | | 6,786,587.93 | | 7,514,187.93 | | (1,393,968.50 | ) | 1991 | | 30 Years | | Greystone | | Atlanta, GA | | 2,252,000.00 | | 6,773,217.54 | | 9,025,217.54 | | (1,487,538.55 | ) | 1960 | | 30 Years | | Gwinnett Crossing | | Duluth, GA | | 2,632,000.00 | | 33,778,183.20 | | 36,410,183.20 | | (5,453,307.06 | ) | 1989/90 | | 30 Years | | Hall Place | | Quincy, MA | | 3,150,800.00 | | 5,396,805.39 | | 8,547,605.39 | | (841,589.88 | ) | 1998 | | 30 Years | | Hammocks Place | | Miami, FL | | 319,180.00 | | 13,755,028.56 | | 14,074,208.56 | | (4,764,098.16 | ) | 1986 | | 30 Years | | Hampshire II | | Elyria, OH | | 126,231.36 | | 1,189,001.13 | | 1,315,232.49 | | (150,933.44 | ) | 1981 | | 30 Years | | Hamptons | | Puyallup, WA | | 1,119,200.00 | | 10,614,032.80 | | 11,733,232.80 | | (2,348,788.43 | ) | 1991 | | 30 Years | | Harbinwood | | Norcross, GA | | 236,760.99 | | 2,260,794.58 | | 2,497,555.57 | | (285,113.66 | ) | 1985 | | 30 Years | | Harbor Pointe | | Milwaukee, WI | | 2,979,800.00 | | 24,428,938.54 | | 27,408,738.54 | | (4,947,016.93 | ) | 1970/1990 | | 30 Years | | Harborview | | Rancho Palos Verdes, CA | | 6,402,500.00 | | 13,273,466.78 | | 19,675,966.78 | | (2,866,757.20 | ) | 1985 | | 30 Years | | Harbour Town | | Boca Raton, FL | | 11,760,000.00 | | 22,567,349.62 | | 34,327,349.62 | | (2,204,145.42 | ) | 1985 | | 30 Years | | Harrison Park | | Tucson, AZ | | 1,265,094.00 | | 16,942,631.71 | | 18,207,725.71 | | (3,308,380.60 | ) | 1985 | | 30 Years | | Hartwick | | Tipton, IN | | 123,790.52 | | 1,174,889.26 | | 1,298,679.78 | | (156,182.48 | ) | 1982 | | 30 Years | | Harvest Grove I | | Gahanna, OH | | 170,334.08 | | 1,680,360.45 | | 1,850,694.53 | | (224,748.78 | ) | 1986 | | 30 Years | | Harvest Grove II | | Gahanna, OH | | 148,791.56 | | 1,373,445.89 | | 1,522,237.45 | | (170,510.07 | ) | 1987 | | 30 Years | | Hatcherway | | Waycross, GA | | 96,885.44 | | 1,035,580.22 | | 1,132,465.66 | | (152,276.50 | ) | 1986 | | 30 Years | | Hathaway | | Long Beach, CA | | 2,512,500.00 | | 24,123,675.63 | | 26,636,175.63 | | (6,569,721.47 | ) | 1987 | | 30 Years | | Hayfield Park | | Burlington, KY | | 261,456.81 | | 2,472,240.52 | | 2,733,697.33 | | (309,151.09 | ) | 1986 | | 30 Years | | Haywood Pointe | | Greenville, SC | | 480,000.00 | | 9,642,913.28 | | 10,122,913.28 | | (1,581,468.72 | ) | 1985 | | 30 Years | | Hearthstone | | San Antonio, TX | | 1,035,900.00 | | 4,832,781.33 | | 5,868,681.33 | | (1,995,589.24 | ) | 1982 | | 30 Years | | Heathmoore (Eva) | | Evansville, IN | | 162,374.53 | | 1,601,742.76 | | 1,764,117.29 | | (206,324.97 | ) | 1984 | | 30 Years | | Heathmoore (KY) | | Louisville, KY | | 156,839.84 | | 1,538,048.38 | | 1,694,888.22 | | (191,050.99 | ) | 1983 | | 30 Years | | Heathmoore (MI) | | Clinton Twp., MI | | 227,105.01 | | 2,137,615.01 | | 2,364,720.02 | | (277,879.89 | ) | 1983 | | 30 Years | | Heathmoore I (IN) | | Indianapolis, IN | | 144,556.70 | | 1,432,557.63 | | 1,577,114.33 | | (195,153.57 | ) | 1983 | | 30 Years | | Heathmoore I (MI) | | Canton, MI | | 232,063.87 | | 2,206,253.27 | | 2,438,317.14 | | (278,027.70 | ) | 1986 | | 30 Years | | Heathmoore II (MI) | | Canton, MI | | 170,432.57 | | 1,593,327.28 | | 1,763,759.85 | | (200,585.52 | ) | 1986 | | 30 Years | | Heritage Green | | Sturbridge, MA | | 835,313.22 | | 5,727,911.03 | | 6,563,224.25 | | (466,728.53 | ) | 1974 | | 30 Years | | Heritage, The | | Phoenix, AZ | | 1,211,205.00 | | 13,502,753.61 | | 14,713,958.61 | | (2,512,706.02 | ) | 1995 | | 30 Years | | Heron Cove | | Coral Springs, FL | | 823,000.00 | | 9,066,374.45 | | 9,889,374.45 | | (2,969,377.22 | ) | 1987 | | 30 Years | | Heron Pointe | | Boynton Beach, FL | | 1,546,700.00 | | 8,518,694.64 | | 10,065,394.64 | | (2,068,604.76 | ) | 1989 | | 30 Years | | Heron Pointe (Atl) | | Atlantic Beach, FL | | 214,332.10 | | 2,130,396.76 | | 2,344,728.86 | | (300,467.20 | ) | 1986 | | 30 Years | | Heron Run | | Plantation, FL | | 917,800.00 | | 10,042,962.28 | | 10,960,762.28 | | (3,390,967.63 | ) | 1987 | | 30 Years | | Heronwood (REIT) | | Ft. Myers, FL | | 146,100.00 | | 1,372,717.37 | | 1,518,817.37 | | (103,583.27 | ) | 1982 | | 30 Years | | Hessian Hills | | Charlottesville, VA(T) | | 181,229.43 | | 5,289,656.91 | | 5,470,886.34 | | (664,177.73 | ) | 1966 | | 30 Years | | Hickory Creek | | Richmond, VA | | 1,323,000.00 | | 19,165,058.62 | | 20,488,058.62 | | (3,094,613.36 | ) | 1984 | | 30 Years | | Hickory Mill | | Hillard, OH | | 161,714.41 | | 1,570,563.36 | | 1,732,277.77 | | (211,931.17 | ) | 1980 | | 30 Years | | Hickory Mill I | | Hurricane, WV | | 129,186.80 | | 1,218,128.57 | | 1,347,315.37 | | (155,587.45 | ) | 1983 | | 30 Years | | Hickory Place | | Gainesville, FL | | 192,453.32 | | 1,899,442.33 | | 2,091,895.65 | | (256,095.80 | ) | 1983 | | 30 Years | | Hickory Ridge | | Greenville, SC | | 288,200.00 | | 2,972,023.44 | | 3,260,223.44 | | (679,497.02 | ) | 1968 | | 30 Years | | Hidden Acres | | Sarasota, FL | | 253,138.81 | | 2,381,745.16 | | 2,634,883.97 | | (308,439.64 | ) | 1987 | | 30 Years | | Hidden Lake | | Sacramento, CA | | 1,715,000.00 | | 11,962,021.55 | | 13,677,021.55 | | (798,564.62 | ) | 1985 | | 30 Years | | Hidden Lakes | | Haltom City, TX | | 1,872,000.00 | | 20,898,661.20 | | 22,770,661.20 | | (3,235,445.06 | ) | 1996 | | 30 Years | | Hidden Oaks | | Cary, NC | | 1,178,600.00 | | 11,717,963.30 | | 12,896,563.30 | | (2,577,083.61 | ) | 1988 | | 30 Years | | Hidden Palms | | Tampa, FL | | 2,049,600.00 | | 7,372,546.86 | | 9,422,146.86 | | (1,758,782.78 | ) | 1986 | | 30 Years | | Hidden Pines | | Casselberry, FL | | 176,307.96 | | 1,789,067.40 | | 1,965,375.36 | | (243,148.02 | ) | 1981 | | 30 Years | | Hidden Valley Club | | Ann Arbor, MI | | 915,000.00 | | 9,501,095.62 | | 10,416,095.62 | | (6,463,047.97 | ) | 1973 | | 30 Years | | High Meadow | | Ellington, CT | | 583,678.94 | | 4,028,623.98 | | 4,612,302.92 | | (331,900.89 | ) | 1975 | | 30 Years | | High Points | | New Port Richey, FL | | 222,307.63 | | 2,241,044.09 | | 2,463,351.72 | | (310,063.58 | ) | 1986 | | 30 Years | | High River | | Tuscaloosa, AL(T) | | 208,107.70 | | 4,073,903.39 | | 4,282,011.09 | | (537,010.01 | ) | 1978 | | 30 Years | | Highland Creste | | Kent, WA | | 935,200.00 | | 9,167,040.20 | | 10,102,240.20 | | (2,148,123.39 | ) | 1989 | | 30 Years | | Highland Glen | | Westwood, MA | | 2,832,603.49 | | 17,122,696.27 | | 19,955,299.76 | | (1,221,711.02 | ) | 1979 | | 30 Years | | Highland Point | | Aurora, CO | | 1,631,900.00 | | 15,696,437.50 | | 17,328,337.50 | | (3,374,406.07 | ) | 1984 | | 30 Years | | Highline Oaks | | Denver, CO | | 1,057,400.00 | | 10,296,251.76 | | 11,353,651.76 | | (2,381,812.73 | ) | 1986 | | 30 Years | | Hillcrest Villas | | Crestview, FL | | 141,603.03 | | 1,393,943.83 | | 1,535,546.86 | | (182,546.12 | ) | 1985 | | 30 Years | | Hillside Manor | | Americus, GA | | 102,632.19 | | 1,117,461.46 | | 1,220,093.65 | | (156,365.87 | ) | 1985 | | 30 Years | | Hillside Trace | | Dade City, FL | | 138,888.03 | | 1,381,718.44 | | 1,520,606.47 | | (183,828.80 | ) | 1987 | | 30 Years | | Holly Ridge | | Pembroke Park, FL | | 295,595.67 | | 2,905,327.72 | | 3,200,923.39 | | (365,803.08 | ) | 1986 | | 30 Years | | Holly Sands I | | Ft. Walton Bch.,FL | | 190,942.32 | | 1,898,537.58 | | 2,089,479.90 | | (257,823.46 | ) | 1985 | | 30 Years | | Holly Sands II | | Ft. Walton Bch., FL | | 124,577.52 | | 1,230,415.87 | | 1,354,993.39 | | (164,407.21 | ) | 1986 | | 30 Years | | Horizon Place | | Tampa, FL | | 2,128,000.00 | | 12,797,566.05 | | 14,925,566.05 | | (2,161,797.32 | ) | 1985 | | 30 Years | | Hunt Club | | Charlotte, NC | | 1,090,000.00 | | 18,516,593.20 | | 19,606,593.20 | | (2,928,830.38 | ) | 1990 | | 30 Years | | Hunters Green | | Fort Worth, TX | | 524,300.00 | | 4,721,799.14 | | 5,246,099.14 | | (1,929,044.53 | ) | 1981 | | 30 Years | | Hunters Ridge | | St. Louis, MO | | 994,500.00 | | 10,047,913.78 | | 11,042,413.78 | | (2,315,511.68 | ) | 1986-1987 | | 30 Years | | Huntington Park | | Everett, WA | | 1,597,500.00 | | 15,600,765.58 | | 17,198,265.58 | | (5,291,404.01 | ) | 1991 | | 30 Years | | Independence Village | | Reynoldsbury, OH | | 226,987.89 | | 2,238,822.06 | | 2,465,809.95 | | (301,366.24 | ) | 1978 | | 30 Years | | Indian Bend | | Scottsdale, AZ | | 1,075,700.00 | | 11,315,312.95 | | 12,391,012.95 | | (4,089,271.00 | ) | 1973 | | 30 Years | |
S - 5
Description | | | | Initial Cost to Company | | Cost Capitalized Subsequent to Acquisition (Improvements, net)(E) | | Apartment Name | | Location | | Encumbrances | | Land | | Building & Fixtures | | Land | | Building & Fixtures | | Indian Lake I | | Morrow, GA | | — | | 839,668.51 | | 7,398,394.66 | | — | | 295,234.63 | | Indian Ridge I (REIT) | | Tallahassee, FL | | 892,606.41 | | 135,500.00 | | 1,218,597.92 | | — | | 67,312.23 | | Indian Ridge II (REIT) | | Tallahassee, FL | | 540,838.86 | | 94,300.00 | | 849,191.77 | | — | | 34,805.00 | | Indian Tree | | Arvada, CO | | — | | 881,225.00 | | 4,552,814.73 | | — | | 1,331,134.57 | | Indigo Springs | | Kent, WA | | 7,143,674.85 | | 1,270,500.00 | | 11,446,901.75 | | — | | 1,467,874.94 | | Iris Glen | | Conyers, GA | | 1,717,580.08 | | 270,458.00 | | 2,383,029.71 | | — | | 108,658.65 | | Ironwood at the Ranch | | Wesminster, CO | | — | | 1,493,300.00 | | 13,439,304.62 | | — | | 907,909.62 | | Isle at Arrowhead Ranch | | Glendale, AZ | | — | | 1,650,237.00 | | 19,593,123.35 | | — | | 303,857.33 | | Isles at Sawgrass | | Sunrise, FL | | — | | 7,360,000.00 | | 18,750,692.72 | | — | | 148,508.54 | | Ivy Place | | Atlanta, GA | | — | | 802,950.00 | | 7,228,256.57 | | — | | 886,982.71 | | Jaclen Towers | | Beverly, NJ | | 2,009,826.43 | | 437,071.76 | | 2,921,735.25 | | — | | 139,241.26 | | James Street Crossing | | Kent, WA | | 16,379,123.00 | | 2,081,253.61 | | 18,748,337.37 | | — | | 782,573.11 | | Jefferson Way I | | Orange Park, FL | | 1,000,621.00 | | 147,798.72 | | 1,302,267.82 | | — | | 110,330.89 | | Junipers at Yarmouth | | Yarmouth, ME | | — | | 1,355,700.00 | | 7,860,134.79 | | — | | 1,039,880.94 | | Jupiter Cove I | | Jupiter, FL | | 1,563,760.42 | | 233,932.43 | | 2,060,899.62 | | — | | 288,856.04 | | Jupiter Cove II | | Jupiter, FL | | 1,534,327.45 | | 1,220,000.00 | | 483,833.40 | | — | | 205,087.34 | | Jupiter Cove III | | Jupiter, FL | | 1,645,173.25 | | 242,009.98 | | 2,131,721.71 | | — | | 178,139.55 | | Kempton Downs | | Gresham, OR | | — | | 1,217,348.91 | | 10,943,371.79 | | — | | 1,392,890.64 | | Ketwood | | Kettering, OH | | — | | 266,443.18 | | 2,347,654.75 | | — | | 256,761.14 | | Keystone | | Austin, TX | | — | | 498,500.00 | | 4,487,295.31 | | — | | 1,035,484.53 | | Kings Colony | | Savannah, GA | | 1,989,806.59 | | 230,149.18 | | 2,027,865.07 | | — | | 178,995.93 | | Kingsport | | Alexandria, VA | | — | | 1,262,250.00 | | 12,479,294.10 | | — | | 1,778,386.38 | | Kirby Place | | Houston, TX | | — | | 3,621,600.00 | | 25,896,773.53 | | — | | 765,202.13 | | La Costa Brava (ORL) | | Orlando, FL | | — | | 206,626.00 | | 3,652,534.00 | | — | | 4,331,983.33 | | La Mariposa | | Mesa, AZ | | — | | 2,047,539.00 | | 12,466,128.12 | | — | | 779,459.82 | | La Mirage | | San Diego, CA | | — | | 28,895,200.00 | | 95,567,942.59 | | — | | 3,771,021.08 | | La Mirage IV | | San Diego, CA | | — | | 6,000,000.00 | | 47,433,182.81 | | — | | 5,667.74 | | La Reserve | | Oro Valley, AZ | | — | | 3,264,562.00 | | 4,936,545.77 | | — | | 481,251.73 | | La Tour Fontaine | | Houston, TX | | — | | 2,916,000.00 | | 15,917,178.19 | | — | | 611,429.20 | | La Ventana | | Las Vegas, NV | | — | | 1,427,200.00 | | 12,844,277.03 | | — | | 556,567.96 | | Ladera | | Phoenix, AZ | | | (Q) | 2,978,879.00 | | 20,640,453.27 | | — | | 371,982.31 | | Lake Point | | Charlotte, NC | | — | | 1,058,975.00 | | 13,587,337.70 | | — | | 841,001.29 | | Lakes at Vinings | | Atlanta, GA | | 21,506,528.86 | | 6,498,000.00 | | 21,832,252.08 | | — | | 1,544,057.78 | | Lakeshore at Preston | | Plano, TX | | 12,465,350.40 | | 3,325,800.00 | | 15,208,347.74 | | — | | 600,775.26 | | Lakeshore I (GA) | | Ft. Oglethorpe, GA | | 1,202,296.00 | | 169,374.96 | | 1,492,377.98 | | — | | 210,587.29 | | Lakeview | | Lodi, CA | | 7,286,000.00 | | 950,000.00 | | 5,368,814.17 | | — | | 258,491.25 | | Lakeville Resort | | Petaluma, CA | | — | | 2,736,500.00 | | 24,610,650.73 | | — | | 1,976,474.76 | | Lakewood | | Tulsa, OK | | 5,600,000.00 | | 855,000.00 | | 6,480,728.80 | | — | | 285,966.04 | | Lakewood Greens | | Dallas, TX | | 8,004,312.78 | | 2,019,600.00 | | 9,026,906.66 | | — | | 425,351.90 | | Lakewood Oaks | | Dallas, TX | | — | | 1,631,600.00 | | 14,686,191.51 | | — | | 1,515,523.66 | | Landera | | San Antonio, TX | | — | | 766,300.00 | | 6,896,811.43 | | — | | 849,231.11 | | Landings (FL), The | | Winterhaven, FL | | — | | 130,953.32 | | 1,153,841.50 | | — | | 238,239.26 | | Landings at Port Imperial | | W. New York, NJ | | — | | 27,246,045.14 | | 37,741,049.53 | | — | | 135,393.06 | | Lantern Cove | | Foster City, CA | | 36,403,000.00 | | 6,945,000.00 | | 21,363,313.03 | | — | | 244,387.56 | | Larkspur I (Hil) | | Hillard, OH | | — | | 179,628.06 | | 1,582,518.99 | | — | | 186,757.91 | | Larkspur Shores | | Hillard, OH | | — | | 17,107,300.00 | | 31,399,237.02 | | — | | 3,111,365.42 | | Larkspur Woods | | Sacramento, CA | | — | | 5,802,900.00 | | 14,576,106.49 | | — | | 693,917.59 | | Laurel Bay | | Ypsilanti, MI | | — | | 186,003.87 | | 1,639,365.78 | | — | | 143,204.95 | | Laurel Gardens | | Coral Springs, FL | | — | | 4,800,000.00 | | 25,942,631.08 | | — | | 1,006,708.20 | | Laurel Glen | | Acworth, GA | | 1,655,375.00 | | 289,509.11 | | 2,550,890.77 | | — | | 98,830.36 | | Laurel Ridge | | Chapel Hill, NC | | — | | 182,550.75 | | 3,206,076.00 | | — | | 2,141,463.53 | | Legends at Preston | | Morrisville, NC | | — | | 3,056,000.00 | | 27,150,720.51 | | — | | 78,157.79 | | Lexington Farm | | Alpharetta, GA | | 17,765,834.54 | | 3,521,900.00 | | 21,449,708.40 | | — | | 567,791.49 | | Lexington Glen | | Atlanta, GA | | — | | 5,760,000.00 | | 40,190,507.44 | | — | | 1,286,095.84 | | Lexington Park | | Orlando, FL | | — | | 2,016,000.00 | | 12,346,725.62 | | — | | 931,348.32 | | Lincoln Green I | | San Antonio, TX | | — | | 947,366.00 | | 5,876,614.69 | | — | | 707,074.52 | | Lincoln Green II | | San Antonio, TX | | — | | 1,052,340.00 | | 5,218,545.96 | | — | | 1,313,447.31 | | Lincoln Green III | | San Antonio, TX | | 3,510,000.00 | | 536,010.00 | | 1,830,435.35 | | — | | 493,374.35 | | Lincoln Heights | | Quincy, MA | | | (R) | 5,928,400.00 | | 33,595,261.97 | | — | | 733,801.78 | | Lindendale | | Columbus, OH | | 1,307,606.48 | | 209,158.53 | | 1,842,815.57 | | — | | 187,784.39 | | Link Terrace | | Hinesville, GA | | — | | 121,838.57 | | 1,073,580.55 | | — | | 103,654.04 | | Little Cottonwoods | | Tempe, AZ | | — | | 3,050,133.00 | | 26,991,689.47 | | — | | 1,072,559.30 | | Lodge (OK), The | | Tulsa, OK | | — | | 313,371.00 | | 2,750,936.00 | | — | | 1,700,027.88 | | Lodge (TX), The | | San Antonio, TX | | — | | 1,363,636.00 | | 7,464,586.00 | | — | | 2,514,033.11 | | Lofton Place | | Tampa, FL | | — | | 2,240,000.00 | | 16,679,214.01 | | — | | 922,891.67 | | Longfellow Glen | | Sudbury, MA | | 4,670,731.08 | | 1,094,273.45 | | 7,314,994.04 | | — | | 455,743.59 | | Longfellow Place | | Boston, MA(G) | | — | | 53,164,160.00 | | 183,940,618.58 | | — | | 13,405,928.82 | | Longwood | | Decatur, GA | | — | | 1,454,048.00 | | 13,087,837.00 | | — | | 787,969.27 | | Longwood (KY) | | Lexington,KY | | — | | 146,309.02 | | 1,289,041.95 | | — | | 154,629.83 | | Loomis Manor | | West Hartford, CT | | | (P) | 422,350.36 | | 2,823,325.73 | | — | | 168,155.75 | | Madison at Cedar Springs | | Dallas, TX | | | (R) | 2,470,000.00 | | 33,194,620.41 | | — | | 471,876.22 | | Madison at Chase Oaks | | Plano, TX | | — | | 3,055,000.00 | | 28,932,884.84 | | — | | 656,813.94 | | Madison at River Sound | | Lawrenceville, GA | | — | | 3,666,999.30 | | 47,387,106.44 | | — | | 588,600.67 | | Madison at Round Grove | | Lewisville, TX | | | (Q) | 2,626,000.00 | | 25,682,373.18 | | — | | 594,147.53 | | Madison at Scofield Farms | | Austin, TX | | 12,587,548.78 | | 2,080,000.00 | | 14,597,971.03 | | — | | 663,900.68 | | Madison at Stone Creek | | Austin, TX | | — | | 2,535,000.00 | | 22,611,699.63 | | — | | 849,825.30 | | Madison at the Arboretum | | Austin, TX | | — | | 1,046,500.00 | | 9,638,268.79 | | — | | 542,304.19 | | Madison at Walnut Creek | | Austin, TX | | — | | 2,737,600.00 | | 14,623,573.62 | | — | | 923,051.32 | | Madison at Wells Branch | | Austin, TX | | 13,664,230.67 | | 2,400,000.00 | | 16,370,878.87 | | — | | 838,948.12 | | Madison on Melrose | | Richardson, TX | | — | | 1,300,000.00 | | 15,096,550.79 | | — | | 292,223.83 | | Madison on the Parkway | | Dallas, TX | | — | | 2,444,000.00 | | 22,505,043.24 | | — | | 622,670.03 | | Magnolia at Whitlock | | Marietta, GA | | — | | 132,978.82 | | 1,526,005.00 | | — | | 2,359,091.14 | | Mallard Cove | | Greenville, SC | | — | | 813,350.00 | | 7,321,951.26 | | — | | 1,215,540.38 | | Mallard Cove at Conway | | Orlando, FL | | — | | 600,000.00 | | 3,528,927.00 | | — | | 4,710,736.55 | | Mallgate | | Louisville, KY | | — | | — | | 6,702,515.00 | | — | | 5,063,176.48 | |
Description | | Gross Amount Carried at Close of Period 12/31/02 | | | | | | | | Life Used to Compute Depreciation in Latest Income Statement(C) | | Apartment Name | | Location | | Land | | Building & Fixtures(A) | | Total(B) | | Accumulated Depreciation | | Date of Construction | | | Indian Lake I | | Morrow, GA | | 839,668.51 | | 7,693,629.29 | | 8,533,297.80 | | (946,236.64 | ) | 1987 | | 30 Years | | Indian Ridge I (REIT) | | Tallahassee, FL | | 135,500.00 | | 1,285,910.15 | | 1,421,410.15 | | (99,321.18 | ) | 1981 | | 30 Years | | Indian Ridge II (REIT) | | Tallahassee, FL | | 94,300.00 | | 883,996.77 | | 978,296.77 | | (68,399.50 | ) | 1982 | | 30 Years | | Indian Tree | | Arvada, CO | | 881,225.00 | | 5,883,949.30 | | 6,765,174.30 | | (2,268,918.69 | ) | 1983 | | 30 Years | | Indigo Springs | | Kent, WA | | 1,270,500.00 | | 12,914,776.69 | | 14,185,276.69 | | (3,159,070.64 | ) | 1991 | | 30 Years | | Iris Glen | | Conyers, GA | | 270,458.00 | | 2,491,688.36 | | 2,762,146.36 | | (306,422.94 | ) | 1984 | | 30 Years | | Ironwood at the Ranch | | Wesminster, CO | | 1,493,300.00 | | 14,347,214.24 | | 15,840,514.24 | | (2,978,060.99 | ) | 1986 | | 30 Years | | Isle at Arrowhead Ranch | | Glendale, AZ | | 1,650,237.00 | | 19,896,980.68 | | 21,547,217.68 | | (3,634,770.35 | ) | 1996 | | 30 Years | | Isles at Sawgrass | | Sunrise, FL | | 7,360,000.00 | | 18,899,201.26 | | 26,259,201.26 | | (613,569.88 | ) | 1991-1995 | | 30 Years | | Ivy Place | | Atlanta, GA | | 802,950.00 | | 8,115,239.28 | | 8,918,189.28 | | (2,093,211.74 | ) | 1978 | | 30 Years | | Jaclen Towers | | Beverly, NJ | | 437,071.76 | | 3,060,976.51 | | 3,498,048.27 | | (256,721.79 | ) | 1976 | | 30 Years | | James Street Crossing | | Kent, WA | | 2,081,253.61 | | 19,530,910.48 | | 21,612,164.09 | | (3,761,262.08 | ) | 1989 | | 30 Years | | Jefferson Way I | | Orange Park, FL | | 147,798.72 | | 1,412,598.71 | | 1,560,397.43 | | (186,435.92 | ) | 1987 | | 30 Years | | Junipers at Yarmouth | | Yarmouth, ME | | 1,355,700.00 | | 8,900,015.73 | | 10,255,715.73 | | (2,055,888.72 | ) | 1970 | | 30 Years | | Jupiter Cove I | | Jupiter, FL | | 233,932.43 | | 2,349,755.66 | | 2,583,688.09 | | (311,742.86 | ) | 1987 | | 30 Years | | Jupiter Cove II | | Jupiter, FL | | 1,220,000.00 | | 688,920.74 | | 1,908,920.74 | | (76,569.96 | ) | 1987 | | 30 Years | | Jupiter Cove III | | Jupiter, FL | | 242,009.98 | | 2,309,861.26 | | 2,551,871.24 | | (282,742.81 | ) | 1987 | | 30 Years | | Kempton Downs | | Gresham, OR | | 1,217,348.91 | | 12,336,262.43 | | 13,553,611.34 | | (3,875,624.36 | ) | 1990 | | 30 Years | | Ketwood | | Kettering, OH | | 266,443.18 | | 2,604,415.89 | | 2,870,859.07 | | (337,612.94 | ) | 1979 | | 30 Years | | Keystone | | Austin, TX | | 498,500.00 | | 5,522,779.84 | | 6,021,279.84 | | (1,933,724.10 | ) | 1981 | | 30 Years | | Kings Colony | | Savannah, GA | | 230,149.18 | | 2,206,861.00 | | 2,437,010.18 | | (295,568.85 | ) | 1987 | | 30 Years | | Kingsport | | Alexandria, VA | | 1,262,250.00 | | 14,257,680.48 | | 15,519,930.48 | | (4,570,541.49 | ) | 1986 | | 30 Years | | Kirby Place | | Houston, TX | | 3,621,600.00 | | 26,661,975.66 | | 30,283,575.66 | | (5,072,466.16 | ) | 1994 | | 30 Years | | La Costa Brava (ORL) | | Orlando, FL | | 206,626.00 | | 7,984,517.33 | | 8,191,143.33 | | (5,087,024.46 | ) | 1967 | | 30 Years | | La Mariposa | | Mesa, AZ | | 2,047,539.00 | | 13,245,587.94 | | 15,293,126.94 | | (2,668,236.52 | ) | 1986 | | 30 Years | | La Mirage | | San Diego, CA | | 28,895,200.00 | | 99,338,963.67 | | 128,234,163.67 | | (19,397,091.69 | ) | 1988/1992 | | 30 Years | | La Mirage IV | | San Diego, CA | | 6,000,000.00 | | 47,438,850.55 | | 53,438,850.55 | | (1,695,095.91 | ) | 2001 | | 30 Years | | La Reserve | | Oro Valley, AZ | | 3,264,562.00 | | 5,417,797.50 | | 8,682,359.50 | | (1,283,587.36 | ) | 1988 | | 30 Years | | La Tour Fontaine | | Houston, TX | | 2,916,000.00 | | 16,528,607.39 | | 19,444,607.39 | | (2,463,861.35 | ) | 1994 | | 30 Years | | La Ventana | | Las Vegas, NV | | 1,427,200.00 | | 13,400,844.99 | | 14,828,044.99 | | (2,802,287.53 | ) | 1989 | | 30 Years | | Ladera | | Phoenix, AZ | | 2,978,879.00 | | 21,012,435.58 | | 23,991,314.58 | | (3,808,982.50 | ) | 1995 | | 30 Years | | Lake Point | | Charlotte, NC | | 1,058,975.00 | | 14,428,338.99 | | 15,487,313.99 | | (2,287,067.41 | ) | 1984 | | 30 Years | | Lakes at Vinings | | Atlanta, GA | | 6,498,000.00 | | 23,376,309.86 | | 29,874,309.86 | | (4,077,110.74 | ) | 1972/1975 | | 30 Years | | Lakeshore at Preston | | Plano, TX | | 3,325,800.00 | | 15,809,123.00 | | 19,134,923.00 | | (2,684,440.98 | ) | 1992 | | 30 Years | | Lakeshore I (GA) | | Ft. Oglethorpe, GA | | 169,374.96 | | 1,702,965.27 | | 1,872,340.23 | | (251,410.55 | ) | 1986 | | 30 Years | | Lakeview | | Lodi, CA | | 950,000.00 | | 5,627,305.42 | | 6,577,305.42 | | (369,689.85 | ) | 1983 | | 30 Years | | Lakeville Resort | | Petaluma, CA | | 2,736,500.00 | | 26,587,125.49 | | 29,323,625.49 | | (6,433,220.41 | ) | 1984 | | 30 Years | | Lakewood | | Tulsa, OK | | 855,000.00 | | 6,766,694.84 | | 7,621,694.84 | | (451,482.10 | ) | 1985 | | 30 Years | | Lakewood Greens | | Dallas, TX | | 2,019,600.00 | | 9,452,258.56 | | 11,471,858.56 | | (1,727,065.31 | ) | 1986 | | 30 Years | | Lakewood Oaks | | Dallas, TX | | 1,631,600.00 | | 16,201,715.17 | | 17,833,315.17 | | (5,214,948.18 | ) | 1987 | | 30 Years | | Landera | | San Antonio, TX | | 766,300.00 | | 7,746,042.54 | | 8,512,342.54 | | (1,810,183.39 | ) | 1983 | | 30 Years | | Landings (FL), The | | Winterhaven, FL | | 130,953.32 | | 1,392,080.76 | | 1,523,034.08 | | (192,182.93 | ) | 1984 | | 30 Years | | Landings at Port Imperial | | W. New York, NJ | | 27,246,045.14 | | 37,876,442.59 | | 65,122,487.73 | | (2,705,058.84 | ) | 1999 | | 30 Years | | Lantern Cove | | Foster City, CA | | 6,945,000.00 | | 21,607,700.59 | | 28,552,700.59 | | (1,205,535.69 | ) | 1985 | | 30 Years | | Larkspur I (Hil) | | Hillard, OH | | 179,628.06 | | 1,769,276.90 | | 1,948,904.96 | | (230,411.02 | ) | 1983 | | 30 Years | | Larkspur Shores | | Hillard, OH | | 17,107,300.00 | | 34,510,602.44 | | 51,617,902.44 | | (6,123,171.24 | ) | 1983 | | 30 Years | | Larkspur Woods | | Sacramento, CA | | 5,802,900.00 | | 15,270,024.08 | | 21,072,924.08 | | (3,074,891.27 | ) | 1989/1993 | | 30 Years | | Laurel Bay | | Ypsilanti, MI | | 186,003.87 | | 1,782,570.73 | | 1,968,574.60 | | (209,982.68 | ) | 1989 | | 30 Years | | Laurel Gardens | | Coral Springs, FL | | 4,800,000.00 | | 26,949,339.28 | | 31,749,339.28 | | (4,275,088.76 | ) | 1989 | | 30 Years | | Laurel Glen | | Acworth, GA | | 289,509.11 | | 2,649,721.13 | | 2,939,230.24 | | (322,897.92 | ) | 1986 | | 30 Years | | Laurel Ridge | | Chapel Hill, NC | | 182,550.75 | | 5,347,539.53 | | 5,530,090.28 | | (3,664,013.29 | ) | 1975 | | 30 Years | | Legends at Preston | | Morrisville, NC | | 3,056,000.00 | | 27,228,878.30 | | 30,284,878.30 | | (1,957,820.68 | ) | 2000 | | 30 Years | | Lexington Farm | | Alpharetta, GA | | 3,521,900.00 | | 22,017,499.89 | | 25,539,399.89 | | (3,610,645.01 | ) | 1995 | | 30 Years | | Lexington Glen | | Atlanta, GA | | 5,760,000.00 | | 41,476,603.28 | | 47,236,603.28 | | (6,299,048.89 | ) | 1990 | | 30 Years | | Lexington Park | | Orlando, FL | | 2,016,000.00 | | 13,278,073.94 | | 15,294,073.94 | | (2,208,280.41 | ) | 1988 | | 30 Years | | Lincoln Green I | | San Antonio, TX | | 947,366.00 | | 6,583,689.21 | | 7,531,055.21 | | (4,110,915.26 | ) | 1984/1986 | | 30 Years | | Lincoln Green II | | San Antonio, TX | | 1,052,340.00 | | 6,531,993.27 | | 7,584,333.27 | | (3,610,385.45 | ) | 1984/1986 | | 30 Years | | Lincoln Green III | | San Antonio, TX | | 536,010.00 | | 2,323,809.70 | | 2,859,819.70 | | (1,323,265.71 | ) | 1984/1986 | | 30 Years | | Lincoln Heights | | Quincy, MA | | 5,928,400.00 | | 34,329,063.75 | | 40,257,463.75 | | (6,194,052.64 | ) | 1991 | | 30 Years | | Lindendale | | Columbus, OH | | 209,158.53 | | 2,030,599.96 | | 2,239,758.49 | | (265,614.51 | ) | 1987 | | 30 Years | | Link Terrace | | Hinesville, GA | | 121,838.57 | | 1,177,234.59 | | 1,299,073.16 | | (157,974.75 | ) | 1984 | | 30 Years | | Little Cottonwoods | | Tempe, AZ | | 3,050,133.00 | | 28,064,248.77 | | 31,114,381.77 | | (5,272,735.26 | ) | 1984 | | 30 Years | | Lodge (OK), The | | Tulsa, OK | | 313,371.00 | | 4,450,963.88 | | 4,764,334.88 | | (3,207,008.20 | ) | 1979 | | 30 Years | | Lodge (TX), The | | San Antonio, TX | | 1,363,636.00 | | 9,978,619.11 | | 11,342,255.11 | | (5,165,071.04 | ) | 1989/1990 | | 30 Years | | Lofton Place | | Tampa, FL | | 2,240,000.00 | | 17,602,105.68 | | 19,842,105.68 | | (2,859,695.25 | ) | 1988 | | 30 Years | | Longfellow Glen | | Sudbury, MA | | 1,094,273.45 | | 7,770,737.63 | | 8,865,011.08 | | (607,925.31 | ) | 1984 | | 30 Years | | Longfellow Place | | Boston, MA(G) | | 53,164,160.00 | | 197,346,547.40 | | 250,510,707.40 | | (23,951,498.38 | ) | 1975 | | 30 Years | | Longwood | | Decatur, GA | | 1,454,048.00 | | 13,875,806.27 | | 15,329,854.27 | | (4,502,771.43 | ) | 1992 | | 30 Years | | Longwood (KY) | | Lexington,KY | | 146,309.02 | | 1,443,671.78 | | 1,589,980.80 | | (189,470.90 | ) | 1985 | | 30 Years | | Loomis Manor | | West Hartford, CT | | 422,350.36 | | 2,991,481.48 | | 3,413,831.84 | | (239,309.13 | ) | 1948 | | 30 Years | | Madison at Cedar Springs | | Dallas, TX | | 2,470,000.00 | | 33,666,496.63 | | 36,136,496.63 | | (5,039,847.88 | ) | 1995 | | 30 Years | | Madison at Chase Oaks | | Plano, TX | | 3,055,000.00 | | 29,589,698.78 | | 32,644,698.78 | | (4,601,164.74 | ) | 1995 | | 30 Years | | Madison at River Sound | | Lawrenceville, GA | | 3,666,999.30 | | 47,975,707.11 | | 51,642,706.41 | | (7,199,201.75 | ) | 1996 | | 30 Years | | Madison at Round Grove | | Lewisville, TX | | 2,626,000.00 | | 26,276,520.71 | | 28,902,520.71 | | (4,103,205.07 | ) | 1995 | | 30 Years | | Madison at Scofield Farms | | Austin, TX | | 2,080,000.00 | | 15,261,871.71 | | 17,341,871.71 | | (1,341,554.45 | ) | 1996 | | 30 Years | | Madison at Stone Creek | | Austin, TX | | 2,535,000.00 | | 23,461,524.93 | | 25,996,524.93 | | (3,703,388.98 | ) | 1995 | | 30 Years | | Madison at the Arboretum | | Austin, TX | | 1,046,500.00 | | 10,180,572.98 | | 11,227,072.98 | | (1,657,629.33 | ) | 1995 | | 30 Years | | Madison at Walnut Creek | | Austin, TX | | 2,737,600.00 | | 15,546,624.94 | | 18,284,224.94 | | (3,155,835.06 | ) | 1994 | | 30 Years | | Madison at Wells Branch | | Austin, TX | | 2,400,000.00 | | 17,209,826.99 | | 19,609,826.99 | | (1,531,457.77 | ) | 1995 | | 30 Years | | Madison on Melrose | | Richardson, TX | | 1,300,000.00 | | 15,388,774.62 | | 16,688,774.62 | | (2,350,559.48 | ) | 1995 | | 30 Years | | Madison on the Parkway | | Dallas, TX | | 2,444,000.00 | | 23,127,713.27 | | 25,571,713.27 | | (3,613,325.08 | ) | 1995 | | 30 Years | | Magnolia at Whitlock | | Marietta, GA | | 132,978.82 | | 3,885,096.14 | | 4,018,074.96 | | (2,297,054.16 | ) | 1971 | | 30 Years | | Mallard Cove | | Greenville, SC | | 813,350.00 | | 8,537,491.64 | | 9,350,841.64 | | (2,452,068.61 | ) | 1983 | | 30 Years | | Mallard Cove at Conway | | Orlando, FL | | 600,000.00 | | 8,239,663.55 | | 8,839,663.55 | | (6,227,931.41 | ) | 1974 | | 30 Years | | Mallgate | | Louisville, KY | | — | | 11,765,691.48 | | 11,765,691.48 | | (9,453,880.52 | ) | 1969 | | 30 Years | |
S - 6
Description | | | | Initial Cost to Company | | Cost Capitalized Subsequent to Acquisition (Improvements, net)(E) | | Apartment Name | | Location | | Encumbrances | | Land | | Building & Fixtures | | Land | | Building & Fixtures | | Manchester (REIT) | | Jacksonville, FL | | 1,244,668.64 | | 184,100.00 | | 1,657,193.63 | | — | | 62,458.48 | | Marabou Mills I | | Indianapolis, IN | | 1,338,568.18 | | 224,177.96 | | 1,974,952.13 | | — | | 186,123.49 | | Marabou Mills II | | Indianapolis, IN | | — | | 192,186.25 | | 1,693,220.33 | | — | | 100,527.40 | | Marabou Mills III | | Indianapolis, IN | | 1,140,520.00 | | 171,556.72 | | 1,511,601.62 | | — | | 84,529.53 | | Mariner Club (FL) | | Pembroke Pines, FL | | — | | 1,824,500.00 | | 20,771,566.44 | | — | | 532,307.21 | | Mariners Wharf | | Orange Park, FL | | — | | 1,861,200.00 | | 16,744,951.02 | | — | | 795,619.15 | | Mark Landing I | | Miami, FL | | 1,265,566.10 | | 191,985.73 | | 1,691,253.52 | | — | | 84,200.30 | | Marks | | Englewood, CO(G) | | 19,895,000.00 | | 4,928,500.00 | | 44,621,813.77 | | — | | 2,232,634.61 | | Marquessa | | Corona Hills, CA | | | (J) | 6,888,500.00 | | 21,604,583.64 | | — | | 957,261.31 | | Marsh Landing I | | Brunswick, GA | | — | | 133,192.75 | | 1,173,573.30 | | — | | 191,294.73 | | Marshlanding II | | Brunswick, GA | | 913,224.98 | | 111,187.09 | | 979,679.39 | | — | | 107,050.35 | | Martha Lake | | Lynnwood, WA | | — | | 821,200.00 | | 7,405,070.49 | | — | | 1,006,363.56 | | Martins Landing | | Roswell, GA | | 12,250,854.27 | | 4,802,000.00 | | 12,899,971.68 | | — | | 1,153,830.92 | | McDowell Place | | Naperville, IL | | | (R) | 2,580,400.00 | | 23,209,628.88 | | — | | 1,681,254.08 | | Meadow Ridge | | Norwich, CT | | 4,423,754.36 | | 747,956.65 | | 4,999,937.12 | | — | | 95,782.38 | | Meadowland | | Bogart, GA | | — | | 152,394.70 | | 1,342,663.37 | | — | | 58,357.19 | | Meadowood (Cin) | | Cincinnati, OH | | — | | 330,734.47 | | 2,913,731.09 | | — | | 327,188.88 | | Meadowood (Cuy) | | Cuyahoga Falls, OH | | — | | 201,406.59 | | 1,774,784.23 | | — | | 154,945.29 | | Meadowood (FLA) | | Flatwoods, KY | | 830,482.35 | | 96,349.54 | | 848,944.48 | | — | | 89,968.50 | | Meadowood (Fra) | | Franklin, IN | | 968,368.00 | | 129,251.57 | | 1,138,733.20 | | — | | 153,593.68 | | Meadowood (New) | | Newburgh, IN | | 936,960.24 | | 131,546.01 | | 1,159,063.71 | | — | | 80,535.58 | | Meadowood (Nic) | | Nicholasville, KY | | 1,349,478.62 | | 173,222.98 | | 1,526,283.21 | | — | | 170,413.60 | | Meadowood (Tem) | | Temperance, MI | | 1,263,972.49 | | 173,674.59 | | 1,530,262.41 | | — | | 59,638.52 | | Meadowood Apts. (Man) | | Mansfield, OH | | — | | 118,504.27 | | 1,044,001.75 | | — | | 146,491.37 | | Meadowood I (GA) | | Norcross, GA | | — | | 205,467.55 | | 1,810,393.05 | | — | | 183,283.71 | | Meadowood I (OH) | | Columbus, OH | | — | | 146,912.36 | | 1,294,457.97 | | — | | 199,405.86 | | Meadowood II (FL) | | Altamonte Springs, FL | | — | | 160,366.67 | | 1,413,005.15 | | — | | 88,274.02 | | Meadowood II (GA) | | Norcross, GA | | — | | 176,968.08 | | 1,559,544.46 | | — | | 136,244.23 | | Meadowood II (OH) | | Columbus, OH | | 466,153.89 | | 57,801.92 | | 509,198.89 | | — | | 75,242.43 | | Meadows I (OH), The | | Columbus, OH | | — | | 150,800.30 | | 1,328,616.01 | | — | | 161,756.51 | | Meadows II (OH), The | | Columbus, OH | | 1,121,423.56 | | 186,636.48 | | 1,644,520.78 | | — | | 149,743.27 | | Meadows in the Park | | Birmingham, AL | | — | | 1,000,900.00 | | 8,533,099.29 | | — | | 509,228.10 | | Meadows on the Lake | | Birmingham, AL | | — | | 1,000,900.00 | | 8,515,348.35 | | — | | 396,709.34 | | Meldon Place | | Toledo, OH | | 2,291,831.19 | | 288,433.76 | | 2,541,700.52 | | — | | 502,727.52 | | Merrifield | | Salisbury, MD | | 1,939,335.83 | | 268,711.88 | | 2,367,644.55 | | — | | 171,058.51 | | Merrill Creek | | Lakewood, WA | | — | | 814,200.00 | | 7,330,605.66 | | — | | 320,644.77 | | Merritt at Satellite Place | | Duluth, GA | | — | | 3,400,000.00 | | 30,115,674.42 | | — | | 366,060.48 | | Mesa Del Oso | | Albuquerque, NM | | 10,841,603.72 | | 4,305,000.00 | | 12,112,957.39 | | — | | 332,471.06 | | Miguel Place | | Port Richey, FL | | 1,422,298.14 | | 199,349.05 | | 1,756,482.38 | | — | | 251,759.65 | | Mill Pond | | Millersville, MD | | 7,493,541.71 | | 2,880,000.00 | | 8,950,400.03 | | — | | 603,617.73 | | Millburn | | Stow, OH | | 145,715.00 | | 192,062.04 | | 1,692,275.85 | | — | | 102,025.95 | | Millburn Court I | | Centerville, OH | | — | | 260,000.00 | | 1,246,756.52 | | — | | 85,781.90 | | Millburn Court II | | Centerville, OH | | 875,157.31 | | 122,870.44 | | 1,082,697.52 | | — | | 199,594.76 | | Mira Flores | | Palm Beach Gardens, FL | | — | | 7,040,000.00 | | 22,515,299.08 | | — | | 56,632.63 | | Mission Bay | | Orlando, FL | | — | | 2,432,000.00 | | 21,623,560.46 | | — | | 697,648.32 | | Mission Hills | | Oceanside, CA | | 10,280,340.06 | | 5,640,000.00 | | 21,130,732.38 | | — | | 417,742.34 | | Misty Woods | | Cary, NC | | — | | 720,790.00 | | 18,063,934.26 | | — | | 1,974,710.82 | | Montecito | | Valencia, CA | | — | | 8,400,000.00 | | 24,709,145.69 | | — | | 212,647.13 | | Montevista | | Dallas, TX | | — | | 3,931,550.00 | | 19,770,957.56 | | — | | 48,404.08 | | Montgomery Court I (MI) | | Haslett, MI | | 1,159,403.92 | | 156,297.73 | | 1,377,153.31 | | — | | 168,920.87 | | Montgomery Court I (OH) | | Dublin, OH | | 1,233,442.63 | | 163,755.09 | | 1,442,642.83 | | — | | 274,228.36 | | Montgomery Court II (OH) | | Dublin, OH | | — | | 149,733.82 | | 1,319,417.16 | | — | | 160,104.01 | | Montierra | | Scottsdale, AZ | | — | | 3,455,000.00 | | 17,266,786.53 | | — | | 188,763.01 | | Montierra (CA) | | San Diego, CA | | 18,081,245.34 | | 8,160,000.00 | | 29,360,938.17 | | — | | 311,849.80 | | Montrose Square | | Columbus, OH | | — | | 193,266.04 | | 1,703,260.43 | | — | | 318,219.94 | | Morgan Trace | | Union City, GA | | — | | 239,102.45 | | 2,105,728.19 | | — | | 148,351.98 | | Morningside | | Scottsdale, AZ | | — | | 670,470.00 | | 12,607,976.02 | | — | | 473,055.01 | | Morningside (FL) | | Titusville, FL | | — | | 197,889.52 | | 1,743,622.33 | | — | | 512,274.87 | | Mosswood I | | Winter Springs, FL | | — | | 163,293.72 | | 1,438,795.64 | | — | | 131,272.82 | | Mosswood II | | Winter Springs, FL | | 1,483,530.41 | | 275,329.91 | | 2,426,157.56 | | — | | 141,192.09 | | Mountain Park Ranch | | Phoenix, AZ | | | (O) | 1,662,332.00 | | 18,260,275.87 | | — | | 598,618.87 | | Mountain Terrace | | Stevenson Ranch, CA | | — | | 3,966,500.00 | | 35,814,994.74 | | — | | 910,740.35 | | Nehoiden Glen | | Needham, MA | | 2,099,843.44 | | 634,537.73 | | 4,241,754.83 | | — | | 92,274.23 | | Newberry I | | Lansing, MI | | — | | 183,508.91 | | 1,616,913.48 | | — | | 188,783.69 | | Newberry II | | Lansing, MI | | — | | 142,292.43 | | 1,253,951.34 | | — | | 128,069.14 | | Newport Heights | | Tukwila, WA | | — | | 391,200.00 | | 3,522,780.07 | | — | | 579,783.17 | | Noonan Glen | | Winchester, MA | | 542,852.56 | | 151,343.51 | | 1,011,700.36 | | — | | 74,402.87 | | North Creek (Everett) | | Evertt, WA | | — | | 3,967,500.00 | | 12,387,189.94 | | — | | 878,050.24 | | North Hill | | Atlanta, GA | | 15,385,425.74 | | 2,525,300.00 | | 18,550,989.31 | | — | | 4,334,060.08 | | Northampton 1 | | Largo, MD | | 19,702,894.43 | | 1,843,200.00 | | 17,528,380.75 | | — | | 2,721,753.93 | | Northampton 2 | | Largo, MD | | — | | 1,513,500.00 | | 14,246,990.27 | | — | | 1,187,770.60 | | Northgate Village | | San Antonio, TX | | — | | 660,100.00 | | 5,974,145.35 | | — | | 1,184,924.16 | | Northglen | | Valencia, CA | | 14,985,289.30 | | 9,360,000.00 | | 20,778,552.71 | | — | | 352,190.74 | | Northridge | | Pleasant Hill, CA | | — | | 5,527,800.00 | | 14,691,704.52 | | — | | 1,099,195.96 | | Northridge (GA) | | Carrolton, GA | | — | | 238,810.55 | | 2,104,181.16 | | — | | 124,529.46 | | Northrup Court I | | Coraopolis, PA | | 1,324,265.45 | | 189,245.89 | | 1,667,462.56 | | — | | 129,040.01 | | Northrup Court II | | Coraopolis, PA | | — | | 157,190.30 | | 1,385,017.88 | | — | | 94,030.38 | | Northwoods Village | | Cary, NC | | — | | 1,369,700.00 | | 11,460,336.89 | | — | | 1,161,802.35 | | Norton Glen | | Norton, MA | | 4,591,298.22 | | 1,012,555.59 | | 6,768,726.88 | | — | | 530,433.44 | | Nova Glen I | | Daytona Beach, FL | | — | | 142,085.70 | | 1,251,929.83 | | — | | 280,887.85 | | Nova Glen II | | Daytona Beach, FL | | — | | 175,167.84 | | 1,543,419.55 | | — | | 204,842.87 | | Novawood I | | Daytona Beach, FL | | 149,213.33 | | 122,311.47 | | 1,077,897.38 | | — | | 109,027.18 | | Novawood II | | Daytona Beach, FL | | — | | 144,401.43 | | 1,272,483.95 | | — | | 81,940.75 | | Oak Gardens | | Hollywood, FL | | — | | 329,967.88 | | 2,907,287.62 | | — | | 255,414.02 | | Oak Mill 2 | | Germantown, MD | | 9,600,000.00 | | 854,132.73 | | 9,010,184.18 | | — | | 693,920.60 | |
Description | | Gross Amount Carried at Close of Period 12/31/02 | | | | | | | | Life Used to Compute Depreciation in Latest Income Statement(C) | | Apartment Name | | Location | | Land | | Building & Fixtures(A) | | Total(B) | | Accumulated Depreciation | | Date of Construction | | | Manchester (REIT) | | Jacksonville, FL | | 184,100.00 | | 1,719,652.11 | | 1,903,752.11 | | (130,549.98 | ) | 1985 | | 30 Years | | Marabou Mills I | | Indianapolis, IN | | 224,177.96 | | 2,161,075.62 | | 2,385,253.58 | | (290,072.65 | ) | 1986 | | 30 Years | | Marabou Mills II | | Indianapolis, IN | | 192,186.25 | | 1,793,747.73 | | 1,985,933.98 | | (230,481.84 | ) | 1987 | | 30 Years | | Marabou Mills III | | Indianapolis, IN | | 171,556.72 | | 1,596,131.15 | | 1,767,687.87 | | (202,104.30 | ) | 1987 | | 30 Years | | Mariner Club (FL) | | Pembroke Pines, FL | | 1,824,500.00 | | 21,303,873.65 | | 23,128,373.65 | | (3,344,011.88 | ) | 1988 | | 30 Years | | Mariners Wharf | | Orange Park, FL | | 1,861,200.00 | | 17,540,570.17 | | 19,401,770.17 | | (3,404,488.30 | ) | 1989 | | 30 Years | | Mark Landing I | | Miami, FL | | 191,985.73 | | 1,775,453.82 | | 1,967,439.55 | | (221,478.59 | ) | 1987 | | 30 Years | | Marks | | Englewood, CO(G) | | 4,928,500.00 | | 46,854,448.38 | | 51,782,948.38 | | (9,680,495.50 | ) | 1987 | | 30 Years | | Marquessa | | Corona Hills, CA | | 6,888,500.00 | | 22,561,844.95 | | 29,450,344.95 | | (4,452,426.07 | ) | 1992 | | 30 Years | | Marsh Landing I | | Brunswick, GA | | 133,192.75 | | 1,364,868.03 | | 1,498,060.78 | | (192,111.48 | ) | 1984 | | 30 Years | | Marshlanding II | | Brunswick, GA | | 111,187.09 | | 1,086,729.74 | | 1,197,916.83 | | (151,494.79 | ) | 1986 | | 30 Years | | Martha Lake | | Lynnwood, WA | | 821,200.00 | | 8,411,434.05 | | 9,232,634.05 | | (1,813,976.06 | ) | 1991 | | 30 Years | | Martins Landing | | Roswell, GA | | 4,802,000.00 | | 14,053,802.60 | | 18,855,802.60 | | (2,489,629.49 | ) | 1972 | | 30 Years | | McDowell Place | | Naperville, IL | | 2,580,400.00 | | 24,890,882.96 | | 27,471,282.96 | | (5,943,027.96 | ) | 1988 | | 30 Years | | Meadow Ridge | | Norwich, CT | | 747,956.65 | | 5,095,719.50 | | 5,843,676.15 | | (421,558.23 | ) | 1987 | | 30 Years | | Meadowland | | Bogart, GA | | 152,394.70 | | 1,401,020.56 | | 1,553,415.26 | | (178,558.41 | ) | 1984 | | 30 Years | | Meadowood (Cin) | | Cincinnati, OH | | 330,734.47 | | 3,240,919.97 | | 3,571,654.44 | | (393,835.01 | ) | 1985 | | 30 Years | | Meadowood (Cuy) | | Cuyahoga Falls, OH | | 201,406.59 | | 1,929,729.52 | | 2,131,136.11 | | (235,252.55 | ) | 1985 | | 30 Years | | Meadowood (FLA) | | Flatwoods, KY | | 96,349.54 | | 938,912.98 | | 1,035,262.52 | | (124,892.82 | ) | 1983 | | 30 Years | | Meadowood (Fra) | | Franklin, IN | | 129,251.57 | | 1,292,326.88 | | 1,421,578.45 | | (175,310.17 | ) | 1983 | | 30 Years | | Meadowood (New) | | Newburgh, IN | | 131,546.01 | | 1,239,599.29 | | 1,371,145.30 | | (168,687.83 | ) | 1984 | | 30 Years | | Meadowood (Nic) | | Nicholasville, KY | | 173,222.98 | | 1,696,696.81 | | 1,869,919.79 | | (224,699.07 | ) | 1983 | | 30 Years | | Meadowood (Tem) | | Temperance, MI | | 173,674.59 | | 1,589,900.93 | | 1,763,575.52 | | (193,457.55 | ) | 1984 | | 30 Years | | Meadowood Apts. (Man) | | Mansfield, OH | | 118,504.27 | | 1,190,493.12 | | 1,308,997.39 | | (156,123.02 | ) | 1983 | | 30 Years | | Meadowood I (GA) | | Norcross, GA | | 205,467.55 | | 1,993,676.76 | | 2,199,144.31 | | (243,689.69 | ) | 1982 | | 30 Years | | Meadowood I (OH) | | Columbus, OH | | 146,912.36 | | 1,493,863.83 | | 1,640,776.19 | | (217,319.52 | ) | 1984 | | 30 Years | | Meadowood II (FL) | | Altamonte Springs, FL | | 160,366.67 | | 1,501,279.17 | | 1,661,645.84 | | (186,314.57 | ) | 1980 | | 30 Years | | Meadowood II (GA) | | Norcross, GA | | 176,968.08 | | 1,695,788.69 | | 1,872,756.77 | | (210,319.50 | ) | 1984 | | 30 Years | | Meadowood II (OH) | | Columbus, OH | | 57,801.92 | | 584,441.32 | | 642,243.24 | | (83,255.71 | ) | 1985 | | 30 Years | | Meadows I (OH), The | | Columbus, OH | | 150,800.30 | | 1,490,372.52 | | 1,641,172.82 | | (202,075.43 | ) | 1985 | | 30 Years | | Meadows II (OH), The | | Columbus, OH | | 186,636.48 | | 1,794,264.05 | | 1,980,900.53 | | (234,374.48 | ) | 1987 | | 30 Years | | Meadows in the Park | | Birmingham, AL | | 1,000,900.00 | | 9,042,327.39 | | 10,043,227.39 | | (1,894,263.84 | ) | 1986 | | 30 Years | | Meadows on the Lake | | Birmingham, AL | | 1,000,900.00 | | 8,912,057.69 | | 9,912,957.69 | | (1,785,190.59 | ) | 1987 | | 30 Years | | Meldon Place | | Toledo, OH | | 288,433.76 | | 3,044,428.04 | | 3,332,861.80 | | (451,697.11 | ) | 1978 | | 30 Years | | Merrifield | | Salisbury, MD | | 268,711.88 | | 2,538,703.06 | | 2,807,414.94 | | (314,174.72 | ) | 1988 | | 30 Years | | Merrill Creek | | Lakewood, WA | | 814,200.00 | | 7,651,250.43 | | 8,465,450.43 | | (1,607,155.85 | ) | 1994 | | 30 Years | | Merritt at Satellite Place | | Duluth, GA | | 3,400,000.00 | | 30,481,734.90 | | 33,881,734.90 | | (3,524,325.54 | ) | 1999 | | 30 Years | | Mesa Del Oso | | Albuquerque, NM | | 4,305,000.00 | | 12,445,428.45 | | 16,750,428.45 | | (793,689.42 | ) | 1983 | | 30 Years | | Miguel Place | | Port Richey, FL | | 199,349.05 | | 2,008,242.03 | | 2,207,591.08 | | (274,457.37 | ) | 1987 | | 30 Years | | Mill Pond | | Millersville, MD | | 2,880,000.00 | | 9,554,017.76 | | 12,434,017.76 | | (1,544,437.35 | ) | 1984 | | 30 Years | | Millburn | | Stow, OH | | 192,062.04 | | 1,794,301.80 | | 1,986,363.84 | | (214,047.48 | ) | 1984 | | 30 Years | | Millburn Court I | | Centerville, OH | | 260,000.00 | | 1,332,538.42 | | 1,592,538.42 | | (113,155.24 | ) | 1979 | | 30 Years | | Millburn Court II | | Centerville, OH | | 122,870.44 | | 1,282,292.28 | | 1,405,162.72 | | (186,849.81 | ) | 1981 | | 30 Years | | Mira Flores | | Palm Beach Gardens, FL | | 7,040,000.00 | | 22,571,931.71 | | 29,611,931.71 | | (620,310.71 | ) | 1996 | | 30 Years | | Mission Bay | | Orlando, FL | | 2,432,000.00 | | 22,321,208.78 | | 24,753,208.78 | | (3,468,155.37 | ) | 1991 | | 30 Years | | Mission Hills | | Oceanside, CA | | 5,640,000.00 | | 21,548,474.72 | | 27,188,474.72 | | (1,528,177.06 | ) | 1984 | | 30 Years | | Misty Woods | | Cary, NC | | 720,790.00 | | 20,038,645.08 | | 20,759,435.08 | | (3,574,241.63 | ) | 1984 | | 30 Years | | Montecito | | Valencia, CA | | 8,400,000.00 | | 24,921,792.82 | | 33,321,792.82 | | (1,768,545.40 | ) | 1999 | | 30 Years | | Montevista | | Dallas, TX | | 3,931,550.00 | | 19,819,361.64 | | 23,750,911.64 | | (348,592.14 | ) | 2000 | | 30 Years | | Montgomery Court I (MI) | | Haslett, MI | | 156,297.73 | | 1,546,074.18 | | 1,702,371.91 | | (203,292.18 | ) | 1984 | | 30 Years | | Montgomery Court I (OH) | | Dublin, OH | | 163,755.09 | | 1,716,871.19 | | 1,880,626.28 | | (233,426.84 | ) | 1985 | | 30 Years | | Montgomery Court II (OH) | | Dublin, OH | | 149,733.82 | | 1,479,521.17 | | 1,629,254.99 | | (187,517.91 | ) | 1986 | | 30 Years | | Montierra | | Scottsdale, AZ | | 3,455,000.00 | | 17,455,549.54 | | 20,910,549.54 | | (2,365,884.97 | ) | 1999 | | 30 Years | | Montierra (CA) | | San Diego, CA | | 8,160,000.00 | | 29,672,787.97 | | 37,832,787.97 | | (2,264,255.50 | ) | 1990 | | 30 Years | | Montrose Square | | Columbus, OH | | 193,266.04 | | 2,021,480.37 | | 2,214,746.41 | | (301,235.09 | ) | 1987 | | 30 Years | | Morgan Trace | | Union City, GA | | 239,102.45 | | 2,254,080.17 | | 2,493,182.62 | | (285,269.94 | ) | 1986 | | 30 Years | | Morningside | | Scottsdale, AZ | | 670,470.00 | | 13,081,031.03 | | 13,751,501.03 | | (2,442,498.80 | ) | 1989 | | 30 Years | | Morningside (FL) | | Titusville, FL | | 197,889.52 | | 2,255,897.20 | | 2,453,786.72 | | (362,736.56 | ) | 1984 | | 30 Years | | Mosswood I | | Winter Springs, FL | | 163,293.72 | | 1,570,068.46 | | 1,733,362.18 | | (206,948.99 | ) | 1981 | | 30 Years | | Mosswood II | | Winter Springs, FL | | 275,329.91 | | 2,567,349.65 | | 2,842,679.56 | | (323,035.72 | ) | 1982 | | 30 Years | | Mountain Park Ranch | | Phoenix, AZ | | 1,662,332.00 | | 18,858,894.74 | | 20,521,226.74 | | (3,604,648.55 | ) | 1994 | | 30 Years | | Mountain Terrace | | Stevenson Ranch, CA | | 3,966,500.00 | | 36,725,735.09 | | 40,692,235.09 | | (8,102,505.97 | ) | 1992 | | 30 Years | | Nehoiden Glen | | Needham, MA | | 634,537.73 | | 4,334,029.06 | | 4,968,566.79 | | (339,060.37 | ) | 1978 | | 30 Years | | Newberry I | | Lansing, MI | | 183,508.91 | | 1,805,697.17 | | 1,989,206.08 | | (239,052.99 | ) | 1985 | | 30 Years | | Newberry II | | Lansing, MI | | 142,292.43 | | 1,382,020.48 | | 1,524,312.91 | | (180,199.32 | ) | 1986 | | 30 Years | | Newport Heights | | Tukwila, WA | | 391,200.00 | | 4,102,563.24 | | 4,493,763.24 | | (1,353,858.09 | ) | 1985 | | 30 Years | | Noonan Glen | | Winchester, MA | | 151,343.51 | | 1,086,103.23 | | 1,237,446.74 | | (87,956.96 | ) | 1983 | | 30 Years | | North Creek (Everett) | | Evertt, WA | | 3,967,500.00 | | 13,265,240.18 | | 17,232,740.18 | | (2,264,870.18 | ) | 1986 | | 30 Years | | North Hill | | Atlanta, GA | | 2,525,300.00 | | 22,885,049.39 | | 25,410,349.39 | | (6,169,449.01 | ) | 1984 | | 30 Years | | Northampton 1 | | Largo, MD | | 1,843,200.00 | | 20,250,134.68 | | 22,093,334.68 | | (7,095,706.48 | ) | 1977 | | 30 Years | | Northampton 2 | | Largo, MD | | 1,513,500.00 | | 15,434,760.87 | | 16,948,260.87 | | (4,806,665.69 | ) | 1988 | | 30 Years | | Northgate Village | | San Antonio, TX | | 660,100.00 | | 7,159,069.51 | | 7,819,169.51 | | (2,847,947.46 | ) | 1984 | | 30 Years | | Northglen | | Valencia, CA | | 9,360,000.00 | | 21,130,743.45 | | 30,490,743.45 | | (1,536,839.36 | ) | 1988 | | 30 Years | | Northridge | | Pleasant Hill, CA | | 5,527,800.00 | | 15,790,900.48 | | 21,318,700.48 | | (2,876,412.12 | ) | 1974 | | 30 Years | | Northridge (GA) | | Carrolton, GA | | 238,810.55 | | 2,228,710.62 | | 2,467,521.17 | | (281,488.17 | ) | 1985 | | 30 Years | | Northrup Court I | | Coraopolis, PA | | 189,245.89 | | 1,796,502.57 | | 1,985,748.46 | | (228,427.67 | ) | 1985 | | 30 Years | | Northrup Court II | | Coraopolis, PA | | 157,190.30 | | 1,479,048.26 | | 1,636,238.56 | | (189,936.79 | ) | 1985 | | 30 Years | | Northwoods Village | | Cary, NC | | 1,369,700.00 | | 12,622,139.24 | | 13,991,839.24 | | (2,756,979.77 | ) | 1986 | | 30 Years | | Norton Glen | | Norton, MA | | 1,012,555.59 | | 7,299,160.32 | | 8,311,715.91 | | (584,519.54 | ) | 1983 | | 30 Years | | Nova Glen I | | Daytona Beach, FL | | 142,085.70 | | 1,532,817.68 | | 1,674,903.38 | | (219,175.19 | ) | 1984 | | 30 Years | | Nova Glen II | | Daytona Beach, FL | | 175,167.84 | | 1,748,262.42 | | 1,923,430.26 | | (228,977.77 | ) | 1986 | | 30 Years | | Novawood I | | Daytona Beach, FL | | 122,311.47 | | 1,186,924.56 | | 1,309,236.03 | | (161,615.70 | ) | 1980 | | 30 Years | | Novawood II | | Daytona Beach, FL | | 144,401.43 | | 1,354,424.70 | | 1,498,826.13 | | (175,353.50 | ) | 1980 | | 30 Years | | Oak Gardens | | Hollywood, FL | | 329,967.88 | | 3,162,701.64 | | 3,492,669.52 | | (375,688.31 | ) | 1988 | | 30 Years | | Oak Mill 2 | | Germantown, MD | | 854,132.73 | | 9,704,104.78 | | 10,558,237.51 | | (2,758,609.70 | ) | 1985 | | 30 Years | |
S - 7
Description | | | | Initial Cost to Company | | Cost Capitalized Subsequent to Acquisition (Improvements, net)(E) | | Apartment Name | | Location | | Encumbrances | | Land | | Building & Fixtures | | Land | | Building & Fixtures | | Oak Park North | | Agoura Hills, CA | | | (I) | 1,706,900.00 | | 15,362,665.94 | | — | | 532,875.33 | | Oak Park South | | Agoura Hills, CA | | | (I) | 1,683,800.00 | | 15,154,607.90 | | — | | 612,186.38 | | Oak Ridge | | Clermont, FL | | 1,171,941.82 | | 173,616.92 | | 1,529,936.27 | | — | | 274,984.86 | | Oak Shade | | Orange City, FL | | — | | 229,403.00 | | 2,021,290.39 | | — | | 117,785.01 | | Oakland Hills | | Margate, FL | | 4,829,527.78 | | 3,040,000.00 | | 4,930,603.61 | | — | | 513,577.17 | | Oakley Woods | | Union City, GA | | 1,080,381.63 | | 165,448.86 | | 1,457,484.78 | | — | | 196,435.14 | | Oaks (NC) | | Charlotte, NC | | — | | 2,196,744.00 | | 23,601,539.52 | | — | | 312,028.33 | | Oakwood Manor | | Hollywood, FL | | — | | 173,246.93 | | 1,525,972.93 | | — | | 57,315.40 | | Oakwood Village (FL) | | Hudson, FL | | — | | 177,280.95 | | 1,285,011.00 | | — | | 309,646.00 | | Oakwood Village (GA) | | Augusta, GA | | — | | 161,174.07 | | 1,420,119.23 | | — | | 135,629.33 | | Ocean Walk | | Key West, FL | | 21,079,921.00 | | 2,838,748.50 | | 25,545,008.72 | | — | | 965,706.32 | | Old Archer Court | | Gainesville, FL | | 943,120.19 | | 170,323.43 | | 1,500,735.06 | | — | | 266,819.12 | | Old Mill Glen | | Maynard, MA | | 1,927,014.37 | | 396,755.99 | | 2,652,232.60 | | — | | 91,682.58 | | Olde Redmond Place | | Redmond, WA | | | (R) | 4,807,100.00 | | 14,126,038.08 | | — | | 649,036.73 | | Olivewood (MI) | | Sterling Hts., MI | | — | | 519,166.75 | | 4,574,904.84 | | — | | 322,712.20 | | Olivewood I | | Indianapolis, IN | | — | | 184,701.38 | | 1,627,420.44 | | — | | 250,979.35 | | Olivewood II | | Indianapolis, IN | | 1,243,201.04 | | 186,234.55 | | 1,640,570.51 | | — | | 185,538.36 | | One Eton Square | | Tulsa, OK | | — | | 1,570,100.00 | | 14,130,936.96 | | — | | 1,955,967.84 | | Orchard Ridge | | Lynnwood, WA | | — | | 485,600.00 | | 4,372,032.68 | | — | | 543,552.12 | | Overlook | | San Antonio, TX | | — | | 1,100,200.00 | | 9,901,516.56 | | — | | 1,276,644.21 | | Overlook Manor | | Frederick, MD | | — | | 1,299,100.00 | | 3,930,931.05 | | — | | 614,124.42 | | Overlook Manor II | | Frederick, MD | | 5,505,000.00 | | 2,186,300.00 | | 6,262,597.06 | | — | | 171,456.81 | | Overlook Manor III | | Frederick, MD | | — | | 1,026,300.00 | | 3,027,389.58 | | — | | 83,657.93 | | Paces Station | | Atlanta, GA | | — | | 4,801,500.00 | | 32,548,052.56 | | — | | 3,289,398.45 | | Palladia | | Hillsboro, OR | | — | | 6,461,000.00 | | 44,888,155.82 | | — | | 167,293.48 | | Palm Place | | Sarasota. FL | | — | | 248,314.81 | | 2,188,339.09 | | — | | 358,044.02 | | Panther Ridge | | Federal Way, WA | | — | | 1,055,800.00 | | 9,506,116.69 | | — | | 867,125.54 | | Paradise Pointe | | Dania, FL | | — | | 1,913,414.15 | | 17,417,955.82 | | — | | 2,529,302.73 | | Parc Royale | | Houston, TX | | — | | 2,223,000.00 | | 11,936,832.68 | | — | | 795,442.33 | | Park Meadow | | Gilbert, AZ | | — | | 835,217.00 | | 15,120,768.64 | | — | | 622,335.84 | | Park Place (MN) | | Plymouth, MN | | — | | 1,219,900.00 | | 10,964,119.20 | | — | | 918,013.31 | | Park Place (TX) | | Houston, TX | | — | | 1,603,000.00 | | 12,054,925.78 | | — | | 362,985.92 | | Park Place II | | Plymouth, MN | | — | | 1,216,100.00 | | 10,951,697.51 | | — | | 749,454.07 | | Park Place West (CT) | | West Hartford, CT | | — | | 466,243.49 | | 3,116,742.32 | | — | | 116,924.24 | | Park West (CA) | | Los Angeles, CA | | — | | 3,033,500.00 | | 27,302,382.65 | | — | | 2,000,415.18 | | Park West (TX) | | Austin, TX | | — | | 648,705.00 | | 4,738,541.73 | | — | | 957,192.18 | | Park West End (VA) | | Richmond, VA | | — | | 1,562,500.00 | | 11,871,449.21 | | — | | 817,721.91 | | Parkfield | | Denver, CO | | — | | 8,330,000.00 | | 28,646,351.96 | | — | | 215,206.34 | | Parkridge Place | | Irving, TX | | — | | 6,432,900.00 | | 17,094,962.48 | | — | | 1,268,947.95 | | Parkside | | Union City, CA | | — | | 6,246,700.00 | | 11,827,452.91 | | — | | 2,220,344.20 | | Parkview Terrace | | Redlands, CA | | — | | 4,969,200.00 | | 35,653,777.06 | | — | | 1,241,722.12 | | Parkville (Col) | | Columbus, OH | | 1,705,772.46 | | 150,432.98 | | 1,325,756.49 | | — | | 245,383.55 | | Parkville (IN) | | Gas City, IN | | 717,872.59 | | 103,434.26 | | 911,493.58 | | — | | 126,384.05 | | Parkville (Par) | | Englewood, OH | | — | | 127,863.02 | | 1,126,637.55 | | — | | 117,955.07 | | Parkville (WV) | | Parkersburg, WV | | — | | 105,459.86 | | 929,406.33 | | — | | 95,664.16 | | Parkway North (REIT) | | Ft. Meyers, FL | | 1,092,648.32 | | 145,350.00 | | 1,308,114.98 | | — | | 80,792.90 | | Parkwood (CT) | | East Haven, CT | | — | | 531,364.67 | | 3,552,064.06 | | — | | 68,341.52 | | Patchen Oaks | | Lexington, KY | | — | | 1,345,300.00 | | 8,129,209.54 | | — | | 639,217.08 | | Pembroke Lake | | Virginia Beach, VA(T) | | 8,720,633.78 | | 511,947.00 | | 8,889,539.36 | | — | | 591,742.76 | | Phillips Park | | Wellesley, MA | | 3,982,256.96 | | 816,921.82 | | 5,460,955.15 | | — | | 78,291.48 | | Pine Barrens | | Jacksonville, FL | | — | | 268,302.86 | | 2,364,040.59 | | — | | 236,475.48 | | Pine Harbour | | Orlando, FL | | — | | 1,664,300.00 | | 14,970,914.84 | | — | | 1,474,181.50 | | Pine Knoll | | Jonesboro, GA | | 1,165,458.18 | | 138,052.24 | | 1,216,390.69 | | — | | 116,486.55 | | Pine Lake | | Tampa, FL | | 625,367.83 | | 79,876.79 | | 703,801.58 | | — | | 71,473.49 | | Pine Meadows I (FL) | | Ft. Meyers, FL | | — | | 152,019.39 | | 1,339,596.48 | | — | | 323,906.83 | | Pine Terrace I | | Callaway, FL | | 2,069,237.89 | | 288,991.84 | | 2,546,426.41 | | — | | 456,044.68 | | Pine Tree Club | | Wildwood, MO | | — | | 1,125,000.00 | | 7,017,082.20 | | — | | 410,004.50 | | Pinellas Pines | | Pinellas Park, FL | | 10,436.71 | | 174,999.26 | | 1,541,934.20 | | — | | 199,885.02 | | Pines of Cloverlane | | Ypsilanti, MI | | — | | 1,907,800.00 | | 16,767,519.36 | | — | | 5,405,873.97 | | Pines of Springdale | | Palm Springs, FL | | — | | 473,867.00 | | 4,265,174.32 | | — | | 970,267.17 | | Plum Tree | | Hales Corners, WI | | | (N) | 1,996,700.00 | | 20,247,195.39 | | — | | 834,290.96 | | Plumwood (Che) | | Chesterfield, IN | | 62,288.50 | | 84,922.60 | | 748,260.67 | | — | | 77,275.99 | | Plumwood (For) | | Ft. Wayne, IN | | — | | 131,350.81 | | 1,157,243.81 | | — | | 147,101.39 | | Plumwood I | | Columbus, OH | | 1,639,286.01 | | 289,814.33 | | 2,553,597.34 | | — | | 313,222.60 | | Plumwood II | | Columbus, OH | | — | | 107,583.06 | | 947,924.01 | | — | | 80,246.31 | | Point (NC) | | Charlotte, NC | | | (S) | 1,700,000.00 | | 25,417,266.78 | | — | | 321,242.34 | | Pointe at South Mountain | | Phoenix, AZ | | — | | 2,228,800.00 | | 20,059,310.98 | | — | | 1,092,343.96 | | Pointe East Condo, LLC | | Redmond, WA | | — | | 602,600.00 | | 5,596,526.25 | | — | | 400,433.41 | | Polos East | | Orlando, FL | | — | | 1,386,000.00 | | 19,058,620.04 | | — | | 634,480.98 | | Port Royale | | Ft. Lauderdale, FL | | — | | 1,754,200.00 | | 15,789,873.13 | | — | | 1,271,364.27 | | Port Royale II | | Ft. Lauderdale, FL | | — | | 1,022,200.00 | | 9,203,165.98 | | — | | 794,671.32 | | Port Royale III | | Ft. Lauderdale, FL | | — | | 7,454,900.00 | | 14,743,153.65 | | — | | 1,071,946.36 | | Portland Center | | Portland, OR(G) | | — | | 6,032,900.00 | | 43,554,398.53 | | — | | 3,487,178.82 | | Portofino | | Chino Hills, CA | | — | | 3,572,400.00 | | 14,660,993.76 | | — | | 395,597.69 | | Portofino (Val) | | Valencia, CA | | 14,584,025.13 | | 8,640,000.00 | | 21,487,126.27 | | — | | 288,784.82 | | Portside Towers | | Jersey City, NJ(G) | | 55,396,562.90 | | 22,455,700.00 | | 96,842,912.99 | | — | | 2,205,372.25 | | Prairie Creek I | | Richardson, TX | | — | | 4,067,291.52 | | 38,986,022.29 | | — | | 560,894.85 | | Preakness | | Antioch, TN | | — | | 1,561,900.00 | | 7,668,520.58 | | — | | 1,548,008.89 | | Preserve at Squaw Peak | | Phoenix, AZ | | — | | 517,788.00 | | 8,533,991.83 | | — | | 309,724.28 | | Preston at Willowbend | | Plano, TX | | — | | 872,500.00 | | 7,878,915.24 | | — | | 2,571,345.90 | | Preston Bend | | Dallas, TX | | | (M) | 1,085,200.00 | | 9,532,056.26 | | — | | 659,236.79 | | Princeton Court | | Evansville, IN | | 865,248.93 | | 116,696.04 | | 1,028,219.32 | | — | | 193,638.17 | | Princeton Square | | Jacksonville, FL | | — | | 864,000.00 | | 11,910,477.70 | | — | | 605,199.08 | | Promenade (FL) | | St. Petersburg, FL | | — | | 2,124,193.40 | | 25,804,036.95 | | — | | 1,261,398.23 | | Promenade at Aventura | | Aventura, FL | | — | | 13,320,000.00 | | 30,353,748.43 | | — | | 339,724.27 | |
Description | | Gross Amount Carried at Close of Period 12/31/02 | | | | | | | | Life Used to Compute Depreciation in Latest Income Statement(C) | | Apartment Name | | Location | | Land | | Building & Fixtures(A) | | Total(B) | | Accumulated Depreciation | | Date of Construction | | | Oak Park North | | Agoura Hills, CA | | 1,706,900.00 | | 15,895,541.27 | | 17,602,441.27 | | (4,124,874.79 | ) | 1990 | | 30 Years | | Oak Park South | | Agoura Hills, CA | | 1,683,800.00 | | 15,766,794.28 | | 17,450,594.28 | | (4,143,978.20 | ) | 1989 | | 30 Years | | Oak Ridge | | Clermont, FL | | 173,616.92 | | 1,804,921.13 | | 1,978,538.05 | | (245,925.95 | ) | 1985 | | 30 Years | | Oak Shade | | Orange City, FL | | 229,403.00 | | 2,139,075.40 | | 2,368,478.40 | | (273,754.65 | ) | 1985 | | 30 Years | | Oakland Hills | | Margate, FL | | 3,040,000.00 | | 5,444,180.78 | | 8,484,180.78 | | (531,463.77 | ) | 1987 | | 30 Years | | Oakley Woods | | Union City, GA | | 165,448.86 | | 1,653,919.92 | | 1,819,368.78 | | (227,165.02 | ) | 1984 | | 30 Years | | Oaks (NC) | | Charlotte, NC | | 2,196,744.00 | | 23,913,567.85 | | 26,110,311.85 | | (3,657,832.39 | ) | 1996 | | 30 Years | | Oakwood Manor | | Hollywood, FL | | 173,246.93 | | 1,583,288.33 | | 1,756,535.26 | | (200,013.13 | ) | 1986 | | 30 Years | | Oakwood Village (FL) | | Hudson, FL | | 177,280.95 | | 1,594,657.00 | | 1,771,937.95 | | (233,043.77 | ) | 1986 | | 30 Years | | Oakwood Village (GA) | | Augusta, GA | | 161,174.07 | | 1,555,748.56 | | 1,716,922.63 | | (197,384.04 | ) | 1985 | | 30 Years | | Ocean Walk | | Key West, FL | | 2,838,748.50 | | 26,510,715.04 | | 29,349,463.54 | | (4,899,446.55 | ) | 1990 | | 30 Years | | Old Archer Court | | Gainesville, FL | | 170,323.43 | | 1,767,554.18 | | 1,937,877.61 | | (253,974.67 | ) | 1977 | | 30 Years | | Old Mill Glen | | Maynard, MA | | 396,755.99 | | 2,743,915.18 | | 3,140,671.17 | | (224,631.47 | ) | 1983 | | 30 Years | | Olde Redmond Place | | Redmond, WA | | 4,807,100.00 | | 14,775,074.81 | | 19,582,174.81 | | (2,445,905.27 | ) | 1986 | | 30 Years | | Olivewood (MI) | | Sterling Hts., MI | | 519,166.75 | | 4,897,617.04 | | 5,416,783.79 | | (626,462.52 | ) | 1986 | | 30 Years | | Olivewood I | | Indianapolis, IN | | 184,701.38 | | 1,878,399.79 | | 2,063,101.17 | | (256,860.61 | ) | 1985 | | 30 Years | | Olivewood II | | Indianapolis, IN | | 186,234.55 | | 1,826,108.87 | | 2,012,343.42 | | (239,256.95 | ) | 1986 | | 30 Years | | One Eton Square | | Tulsa, OK | | 1,570,100.00 | | 16,086,904.80 | | 17,657,004.80 | | (3,776,803.33 | ) | 1985 | | 30 Years | | Orchard Ridge | | Lynnwood, WA | | 485,600.00 | | 4,915,584.80 | | 5,401,184.80 | | (1,583,021.44 | ) | 1988 | | 30 Years | | Overlook | | San Antonio, TX | | 1,100,200.00 | | 11,178,160.77 | | 12,278,360.77 | | (2,765,538.07 | ) | 1985 | | 30 Years | | Overlook Manor | | Frederick, MD | | 1,299,100.00 | | 4,545,055.47 | | 5,844,155.47 | | (820,329.71 | ) | 1980/1985 | | 30 Years | | Overlook Manor II | | Frederick, MD | | 2,186,300.00 | | 6,434,053.87 | | 8,620,353.87 | | (1,136,672.62 | ) | 1980/1985 | | 30 Years | | Overlook Manor III | | Frederick, MD | | 1,026,300.00 | | 3,111,047.51 | | 4,137,347.51 | | (533,632.71 | ) | 1980/1985 | | 30 Years | | Paces Station | | Atlanta, GA | | 4,801,500.00 | | 35,837,451.01 | | 40,638,951.01 | | (7,924,006.70 | ) | 1984-1988/1989 | | 30 Years | | Palladia | | Hillsboro, OR | | 6,461,000.00 | | 45,055,449.30 | | 51,516,449.30 | | (2,190,488.62 | ) | 2000 | | 30 Years | | Palm Place | | Sarasota. FL | | 248,314.81 | | 2,546,383.11 | | 2,794,697.92 | | (348,604.53 | ) | 1984 | | 30 Years | | Panther Ridge | | Federal Way, WA | | 1,055,800.00 | | 10,373,242.23 | | 11,429,042.23 | | (2,474,737.50 | ) | 1980 | | 30 Years | | Paradise Pointe | | Dania, FL | | 1,913,414.15 | | 19,947,258.55 | | 21,860,672.70 | | (5,991,328.13 | ) | 1987-90 | | 30 Years | | Parc Royale | | Houston, TX | | 2,223,000.00 | | 12,732,275.01 | | 14,955,275.01 | | (1,895,800.74 | ) | 1994 | | 30 Years | | Park Meadow | | Gilbert, AZ | | 835,217.00 | | 15,743,104.48 | | 16,578,321.48 | | (2,976,819.75 | ) | 1986 | | 30 Years | | Park Place (MN) | | Plymouth, MN | | 1,219,900.00 | | 11,882,132.51 | | 13,102,032.51 | | (3,136,398.39 | ) | 1986 | | 30 Years | | Park Place (TX) | | Houston, TX | | 1,603,000.00 | | 12,417,911.70 | | 14,020,911.70 | | (2,313,231.39 | ) | 1996 | | 30 Years | | Park Place II | | Plymouth, MN | | 1,216,100.00 | | 11,701,151.58 | | 12,917,251.58 | | (2,997,738.17 | ) | 1986 | | 30 Years | | Park Place West (CT) | | West Hartford, CT | | 466,243.49 | | 3,233,666.56 | | 3,699,910.05 | | (264,951.46 | ) | 1961 | | 30 Years | | Park West (CA) | | Los Angeles, CA | | 3,033,500.00 | | 29,302,797.83 | | 32,336,297.83 | | (7,935,898.53 | ) | 1987/90 | | 30 Years | | Park West (TX) | | Austin, TX | | 648,705.00 | | 5,695,733.91 | | 6,344,438.91 | | (2,081,951.08 | ) | 1985 | | 30 Years | | Park West End (VA) | | Richmond, VA | | 1,562,500.00 | | 12,689,171.12 | | 14,251,671.12 | | (2,488,524.92 | ) | 1985 | | 30 Years | | Parkfield | | Denver, CO | | 8,330,000.00 | | 28,861,558.30 | | 37,191,558.30 | | (2,123,297.80 | ) | 2000 | | 30 Years | | Parkridge Place | | Irving, TX | | 6,432,900.00 | | 18,363,910.43 | | 24,796,810.43 | | (3,929,267.72 | ) | 1985 | | 30 Years | | Parkside | | Union City, CA | | 6,246,700.00 | | 14,047,797.11 | | 20,294,497.11 | | (2,556,784.29 | ) | 1979 | | 30 Years | | Parkview Terrace | | Redlands, CA | | 4,969,200.00 | | 36,895,499.18 | | 41,864,699.18 | | (6,840,789.56 | ) | 1986 | | 30 Years | | Parkville (Col) | | Columbus, OH | | 150,432.98 | | 1,571,140.04 | | 1,721,573.02 | | (244,776.86 | ) | 1978 | | 30 Years | | Parkville (IN) | | Gas City, IN | | 103,434.26 | | 1,037,877.63 | | 1,141,311.89 | | (146,656.54 | ) | 1982 | | 30 Years | | Parkville (Par) | | Englewood, OH | | 127,863.02 | | 1,244,592.62 | | 1,372,455.64 | | (158,017.29 | ) | 1982 | | 30 Years | | Parkville (WV) | | Parkersburg, WV | | 105,459.86 | | 1,025,070.49 | | 1,130,530.35 | | (130,099.16 | ) | 1982 | | 30 Years | | Parkway North (REIT) | | Ft. Meyers, FL | | 145,350.00 | | 1,388,907.88 | | 1,534,257.88 | | (112,063.47 | ) | 1984 | | 30 Years | | Parkwood (CT) | | East Haven, CT | | 531,364.67 | | 3,620,405.58 | | 4,151,770.25 | | (307,263.89 | ) | 1975 | | 30 Years | | Patchen Oaks | | Lexington, KY | | 1,345,300.00 | | 8,768,426.62 | | 10,113,726.62 | | (1,634,205.39 | ) | 1990 | | 30 Years | | Pembroke Lake | | Virginia Beach, VA(T) | | 511,947.00 | | 9,481,282.12 | | 9,993,229.12 | | (1,186,728.52 | ) | 1975 | | 30 Years | | Phillips Park | | Wellesley, MA | | 816,921.82 | | 5,539,246.63 | | 6,356,168.45 | | (423,017.01 | ) | 1988 | | 30 Years | | Pine Barrens | | Jacksonville, FL | | 268,302.86 | | 2,600,516.07 | | 2,868,818.93 | | (342,795.63 | ) | 1986 | | 30 Years | | Pine Harbour | | Orlando, FL | | 1,664,300.00 | | 16,445,096.34 | | 18,109,396.34 | | (5,644,888.98 | ) | 1991 | | 30 Years | | Pine Knoll | | Jonesboro, GA | | 138,052.24 | | 1,332,877.24 | | 1,470,929.48 | | (162,752.96 | ) | 1985 | | 30 Years | | Pine Lake | | Tampa, FL | | 79,876.79 | | 775,275.07 | | 855,151.86 | | (101,278.07 | ) | 1982 | | 30 Years | | Pine Meadows I (FL) | | Ft. Meyers, FL | | 152,019.39 | | 1,663,503.31 | | 1,815,522.70 | | (253,479.68 | ) | 1985 | | 30 Years | | Pine Terrace I | | Callaway, FL | | 288,991.84 | | 3,002,471.09 | | 3,291,462.93 | | (449,155.39 | ) | 1983 | | 30 Years | | Pine Tree Club | | Wildwood, MO | | 1,125,000.00 | | 7,427,086.70 | | 8,552,086.70 | | (1,063,544.52 | ) | 1986 | | 30 Years | | Pinellas Pines | | Pinellas Park, FL | | 174,999.26 | | 1,741,819.22 | | 1,916,818.48 | | (223,204.58 | ) | 1983 | | 30 Years | | Pines of Cloverlane | | Ypsilanti, MI | | 1,907,800.00 | | 22,173,393.33 | | 24,081,193.33 | | (7,414,920.18 | ) | 1975-79 | | 30 Years | | Pines of Springdale | | Palm Springs, FL | | 473,867.00 | | 5,235,441.49 | | 5,709,308.49 | | (1,890,337.35 | ) | 1985/87 | | 30 Years | | Plum Tree | | Hales Corners, WI | | 1,996,700.00 | | 21,081,486.35 | | 23,078,186.35 | | (3,884,590.92 | ) | 1989 | | 30 Years | | Plumwood (Che) | | Chesterfield, IN | | 84,922.60 | | 825,536.66 | | 910,459.26 | | (107,622.39 | ) | 1980 | | 30 Years | | Plumwood (For) | | Ft. Wayne, IN | | 131,350.81 | | 1,304,345.20 | | 1,435,696.01 | | (182,425.38 | ) | 1981 | | 30 Years | | Plumwood I | | Columbus, OH | | 289,814.33 | | 2,866,819.94 | | 3,156,634.27 | | (375,254.16 | ) | 1978 | | 30 Years | | Plumwood II | | Columbus, OH | | 107,583.06 | | 1,028,170.32 | | 1,135,753.38 | | (126,507.44 | ) | 1983 | | 30 Years | | Point (NC) | | Charlotte, NC | | 1,700,000.00 | | 25,738,509.12 | | 27,438,509.12 | | (3,917,791.85 | ) | 1996 | | 30 Years | | Pointe at South Mountain | | Phoenix, AZ | | 2,228,800.00 | | 21,151,654.94 | | 23,380,454.94 | | (4,647,638.83 | ) | 1988 | | 30 Years | | Pointe East Condo, LLC | | Redmond, WA | | 602,600.00 | | 5,996,959.66 | | 6,599,559.66 | | (1,770,500.28 | ) | 1988 | | 30 Years | | Polos East | | Orlando, FL | | 1,386,000.00 | | 19,693,101.02 | | 21,079,101.02 | | (3,106,816.26 | ) | 1991 | | 30 Years | | Port Royale | | Ft. Lauderdale, FL | | 1,754,200.00 | | 17,061,237.40 | | 18,815,437.40 | | (5,245,636.30 | ) | 1988 | | 30 Years | | Port Royale II | | Ft. Lauderdale, FL | | 1,022,200.00 | | 9,997,837.30 | | 11,020,037.30 | | (2,729,874.55 | ) | 1988 | | 30 Years | | Port Royale III | | Ft. Lauderdale, FL | | 7,454,900.00 | | 15,815,100.01 | | 23,270,000.01 | | (3,491,865.36 | ) | 1988 | | 30 Years | | Portland Center | | Portland, OR(G) | | 6,032,900.00 | | 47,041,577.35 | | 53,074,477.35 | | (7,615,609.84 | ) | 1965 | | 30 Years | | Portofino | | Chino Hills, CA | | 3,572,400.00 | | 15,056,591.45 | | 18,628,991.45 | | (2,802,413.76 | ) | 1989 | | 30 Years | | Portofino (Val) | | Valencia, CA | | 8,640,000.00 | | 21,775,911.09 | | 30,415,911.09 | | (1,560,945.68 | ) | 1989 | | 30 Years | | Portside Towers | | Jersey City, NJ(G) | | 22,455,700.00 | | 99,048,285.24 | | 121,503,985.24 | | (15,701,096.19 | ) | 1992/1997 | | 30 Years | | Prairie Creek I | | Richardson, TX | | 4,067,291.52 | | 39,546,917.14 | | 43,614,208.66 | | (5,370,898.68 | ) | 1998/99 | | 30 Years | | Preakness | | Antioch, TN | | 1,561,900.00 | | 9,216,529.47 | | 10,778,429.47 | | (2,172,061.17 | ) | 1986 | | 30 Years | | Preserve at Squaw Peak | | Phoenix, AZ | | 517,788.00 | | 8,843,716.11 | | 9,361,504.11 | | (1,679,679.05 | ) | 1990 | | 30 Years | | Preston at Willowbend | | Plano, TX | | 872,500.00 | | 10,450,261.14 | | 11,322,761.14 | | (3,823,384.91 | ) | 1985 | | 30 Years | | Preston Bend | | Dallas, TX | | 1,085,200.00 | | 10,191,293.05 | | 11,276,493.05 | | (2,342,010.41 | ) | 1986 | | 30 Years | | Princeton Court | | Evansville, IN | | 116,696.04 | | 1,221,857.49 | | 1,338,553.53 | | (164,895.88 | ) | 1985 | | 30 Years | | Princeton Square | | Jacksonville, FL | | 864,000.00 | | 12,515,676.78 | | 13,379,676.78 | | (2,031,423.67 | ) | 1984 | | 30 Years | | Promenade (FL) | | St. Petersburg, FL | | 2,124,193.40 | | 27,065,435.18 | | 29,189,628.58 | | (4,106,405.23 | ) | 1994 | | 30 Years | | Promenade at Aventura | | Aventura, FL | | 13,320,000.00 | | 30,693,472.70 | | 44,013,472.70 | | (1,919,115.18 | ) | 1995 | | 30 Years | |
S - 8
Description | | | | Initial Cost to Company | | Cost Capitalized Subsequent to Acquisition (Improvements, net)(E) | | Apartment Name | | Location | | Encumbrances | | Land | | Building & Fixtures | | Land | | Building & Fixtures | | Promenade at Wyndham Lakes | | Coral Springs, FL | | — | | 6,640,000.00 | | 26,743,759.79 | | — | | 236,026.23 | | Promenade Terrace | | Corona, CA | | 14,673,985.07 | | 2,282,800.00 | | 20,546,289.38 | | — | | 1,105,005.11 | | Promontory Pointe I & II | | Phoenix, AZ | | — | | 2,355,509.00 | | 30,421,839.60 | | — | | 1,163,229.75 | | Prospect Towers | | Hackensack, NJ | | 14,098,134.08 | | 3,926,600.00 | | 27,966,416.19 | | — | | 2,147,267.17 | | Prospect Towers II | | Hackensack, NJ | | — | | 4,500,000.00 | | 32,988,329.41 | | — | | 4,914.05 | | Providence at Kirby | | Houston, TX | | 18,338,179.50 | | 3,945,000.00 | | 20,587,666.33 | | — | | 215.42 | | Pueblo Villas | | Albuquerque, NM | | — | | 855,600.00 | | 7,694,320.11 | | — | | 1,761,637.56 | | Quail Call | | Albany, GA | | 684,084.74 | | 104,723.44 | | 922,727.65 | | — | | 119,621.30 | | Ramblewood I (Val) | | Valdosta, GA | | — | | 132,083.69 | | 1,163,801.21 | | — | | 87,961.53 | | Ramblewood II (Aug) | | Augusta, GA | | — | | 169,269.38 | | 1,490,782.67 | | — | | 274,767.43 | | Ramblewood II (Val) | | Valdosta, GA | | — | | 61,672.12 | | 543,398.57 | | — | | 27,993.36 | | Ranchside | | New Port Richey, FL | | — | | 144,692.45 | | 1,274,898.15 | | — | | 148,381.27 | | Ranchstone | | Houston, TX | | — | | 770,000.00 | | 15,371,430.67 | | — | | 276,946.71 | | Ravens Crest | | Plainsboro, NJ | | — | | 4,670,850.00 | | 42,080,642.31 | | — | | 3,994,205.46 | | Ravinia | | Greenfield, WI | | | (N) | 1,240,100.00 | | 12,055,713.24 | | — | | 467,929.39 | | Red Deer I | | Fairborn, OH | | — | | 204,316.78 | | 1,800,253.53 | | — | | 150,334.81 | | Red Deer II | | Fairborn, OH | | — | | 193,851.63 | | 1,708,044.09 | | — | | 118,587.57 | | Redan Village I | | Decatur, GA | | — | | 274,294.48 | | 2,416,963.33 | | — | | 197,796.89 | | Redan Village II | | Decatur, GA | | — | | 240,605.46 | | 2,119,855.32 | | — | | 124,469.73 | | Redlands Lawn and Tennis | | Redlands, CA | | — | | 4,822,320.00 | | 26,359,328.48 | | — | | 1,450,244.71 | | Regency | | Charlotte, NC | | — | | 890,000.00 | | 11,783,919.89 | | — | | 629,719.36 | | Regency Palms | | Huntington Beach, CA | | — | | 1,857,400.00 | | 16,713,253.54 | | — | | 1,564,041.57 | | Remington Place | | Pheonix, AZ | | — | | 1,492,750.00 | | 13,377,478.30 | | — | | 1,958,692.37 | | Reserve at Ashley Lake | | Boynton Beach, FL | | 24,150,000.00 | | 3,520,400.00 | | 23,332,493.58 | | — | | 1,103,926.95 | | Reserve at Fairfax Corners | | Fairfax, VA | | — | | 15,804,057.13 | | 63,216,228.51 | | — | | 76,720.86 | | Reserve Square Combined | | Cleveland, OH(G) | | — | | 2,618,851.89 | | 23,582,868.99 | | — | | 15,256,869.81 | | Retreat, The | | Phoenix, AZ | | | (S) | 3,475,114.00 | | 27,265,251.81 | | — | | 322,549.15 | | Ribbon Mill | | Manchester, CT | | 4,414,097.57 | | 787,929.00 | | 5,267,144.05 | | — | | 147,463.42 | | Richmond Townhomes | | Houston, TX | | — | | 940,000.00 | | 13,906,905.00 | | — | | 417,479.69 | | Ridgewood (Lou) | | Louisville, KY | | — | | 163,685.89 | | 1,442,301.06 | | — | | 71,899.84 | | Ridgewood (MI) | | Westland, MI | | 1,161,530.68 | | 176,968.96 | | 1,559,588.43 | | — | | 167,332.53 | | Ridgewood (Rus) | | Russellville, KY | | 740,727.67 | | 69,156.10 | | 609,340.64 | | — | | 86,322.11 | | Ridgewood I (Bed) | | Bedford, IN | | 818,907.23 | | 107,119.92 | | 943,843.19 | | — | | 101,351.24 | | Ridgewood I (Elk) | | Elkhart, IN | | — | | 159,371.17 | | 1,404,233.72 | | — | | 212,345.51 | | Ridgewood I (GA) | | Decatur, GA | | 1,326,579.20 | | 230,574.17 | | 2,031,609.72 | | — | | 150,802.86 | | Ridgewood I (Lex) | | Lexington, KY | | — | | 203,719.66 | | 1,794,792.23 | | — | | 134,781.13 | | Ridgewood I (OH) | | Columbus, OH | | 1,160,738.69 | | 174,065.87 | | 1,534,135.00 | | — | | 173,832.87 | | Ridgewood II (Bed) | | Bedford, IN | | 848,893.80 | | 99,558.74 | | 877,220.98 | | — | | 77,856.59 | | Ridgewood II (Elk) | | Elkhart, IN | | — | | 215,334.70 | | 1,897,333.39 | | — | | 282,705.39 | | Ridgewood II (GA) | | Decatur, GA | | 954,440.18 | | 164,999.02 | | 1,453,626.21 | | — | | 74,596.35 | | Ridgewood II (OH) | | Columbus, OH | | 1,122,047.40 | | 162,913.98 | | 1,435,647.68 | | — | | 127,959.64 | | Ridgewood Village | | San Diego, CA | | | (J) | 5,761,500.00 | | 14,032,510.64 | | — | | 139,324.91 | | Ridgewood Village II | | San Diego, CA | | — | | 6,048,000.00 | | 19,971,537.18 | | — | | 28,679.67 | | Rincon | | Houston, TX | | — | | 4,401,900.00 | | 16,734,745.75 | | — | | 630,259.78 | | River Glen I | | Reynoldsburg, OH | | — | | 171,271.91 | | 1,508,892.15 | | — | | 102,834.57 | | River Glen II | | Reynoldsburg, OH | | 1,119,412.57 | | 158,683.55 | | 1,398,175.02 | | — | | 133,473.39 | | River Hill | | Grand Prairie, TX | | — | | 2,004,000.00 | | 19,272,943.71 | | — | | 649,143.04 | | River Oaks (CA) | | Oceanside, CA | | 10,438,479.00 | | 5,600,000.00 | | 20,673,713.81 | | — | | 524,622.09 | | River Park | | Fort Worth, TX | | 7,353,502.23 | | 2,245,400.00 | | 8,811,726.50 | | — | | 1,789,868.90 | | Rivers Bend (CT) | | Windsor, CT | | | (P) | 3,325,516.73 | | 22,230,398.58 | | — | | 228,536.08 | | Rivers Edge | | Waterbury, CT | | — | | 781,900.00 | | 6,561,167.21 | | — | | 342,197.03 | | Rivers End I | | Jacksonville, FL | | 1,343,119.61 | | 171,744.81 | | 1,507,064.67 | | — | | 192,458.75 | | Rivers End II | | Jacksonville, FL | | — | | 190,687.68 | | 1,680,171.28 | | — | | 168,670.63 | | River Pointe at Den Rock Park | | Lawrence, MA | | 18,100,000.00 | | 4,615,702.11 | | 18,406,208.83 | | — | | — | | Riverside Park | | Tulsa, OK | | — | | 1,441,400.00 | | 12,371,637.06 | | — | | 563,104.54 | | Riverview Condominiums | | Norwalk, CT | | 6,125,037.67 | | 2,300,000.00 | | 7,406,729.78 | | — | | 748,809.82 | | Roanoke | | Rochester Hills, MI | | 40,500.00 | | 369,911.16 | | 3,259,270.40 | | — | | 160,269.11 | | Rock Creek | | Corrboro, NC | | — | | 895,700.00 | | 8,062,542.86 | | — | | 671,043.01 | | Rockingham Glen | | West Roxbury, MA | | 2,395,953.57 | | 1,124,216.91 | | 7,515,159.93 | | — | | 177,529.83 | | Rolido Parque | | Houston, TX | | 6,830,444.31 | | 2,955,900.00 | | 7,931,879.77 | | — | | 1,306,358.06 | | Rolling Green (Amherst) | | Amherst, MA | | 3,927,835.67 | | 1,340,701.85 | | 8,962,317.43 | | — | | 454,891.94 | | Rolling Green (Fall River) | | Fall River, MA | | 7,832,720.51 | | 2,481,821.11 | | 16,780,359.12 | | — | | 730,420.64 | | Rolling Green (Milford) | | Milford, MA | | 7,791,026.73 | | 2,012,350.35 | | 13,452,150.14 | | — | | 867,111.96 | | Rosecliff | | Quincy, MA | | — | | 5,460,000.00 | | 15,722,948.35 | | — | | 55,958.02 | | Rosehill Pointe | | Lenexa, KS | | | (R) | 2,093,300.00 | | 18,863,514.87 | | — | | 3,229,392.58 | | Rosewood (KY) | | Louisville, KY | | — | | 253,452.90 | | 2,233,196.22 | | — | | 218,410.03 | | Rosewood (OH) | | Columbus, OH | | — | | 212,378.37 | | 1,871,185.91 | | — | | 227,442.54 | | Rosewood Commons I | | Indianapolis, IN | | 1,780,506.79 | | 228,644.39 | | 2,014,652.29 | | — | | 213,438.48 | | Rosewood Commons II | | Indianapolis, IN | | — | | 220,463.03 | | 1,942,519.54 | | — | | 163,163.28 | | Royal Oak | | Eagan, MN | | 13,139,491.00 | | 1,602,903.51 | | 14,423,662.47 | | — | | 791,337.95 | | Royal Oaks (FL) | | Jacksonville, FL | | — | | 1,988,000.00 | | 13,645,117.44 | | — | | 547,560.55 | | Royale | | Cranston, RI | | | (P) | 512,785.47 | | 3,427,865.91 | | — | | 105,581.62 | | Sabal Palm at Boot Ranch | | Palm Harbor, FL | | — | | 3,888,000.00 | | 28,923,691.69 | | — | | 951,788.76 | | Sabal Palm at Carrollwood Place | | Tampa, FL | | — | | 3,888,000.00 | | 26,911,542.48 | | — | | 639,972.72 | | Sabal Palm at Lake Buena Vista | | Orlando, FL | | 21,170,000.00 | | 2,800,000.00 | | 23,687,892.95 | | — | | 832,921.40 | | Sabal Palm at Metrowest | | Orlando, FL | | — | | 4,110,000.00 | | 38,394,864.86 | | — | | 1,077,090.21 | | Sabal Palm at Metrowest II | | Orlando, FL | | — | | 4,560,000.00 | | 33,907,282.83 | | — | | 457,514.75 | | Sabal Pointe | | Coral Springs, FL | | — | | 1,951,600.00 | | 17,570,507.92 | | — | | 1,637,018.52 | | Saddle Ridge | | Ashburn, VA | | — | | 1,364,800.00 | | 12,283,616.32 | | — | | 762,469.97 | | Sailboat Bay | | Raleigh, NC | | — | | 960,000.00 | | 8,797,579.84 | | — | | 406,975.50 | | St. Andrews at Winston Park | | Coconut Creek, FL | | — | | 5,680,000.00 | | 19,812,090.27 | | — | | 135,605.24 | | Sandalwood | | Toledo, OH | | 1,062,692.38 | | 151,926.23 | | 1,338,635.64 | | — | | 63,494.07 | | Sandpiper II | | Fort Pierce, FL | | — | | 155,495.65 | | 1,369,987.12 | | — | | 306,312.63 | | Sanford Court | | Sanford, FL | | 1,681,432.84 | | 238,814.10 | | 2,104,212.44 | | — | | 295,136.86 | | Savannah Lakes | | Boynton Beach, FL | | — | | 7,000,000.00 | | 30,422,606.70 | | — | | 72,807.26 | |
Description | | Gross Amount Carried at Close of Period 12/31/02 | | Total(B) | | Accumulated Depreciation | | Date of Construction | | Life Used to Compute Depreciation in Latest Income Statement(C) | | Apartment Name | | Location | Land | | Building & Fixtures(A) | Promenade at Wyndham Lakes | | Coral Springs, FL | | 6,640,000.00 | | 26,979,786.02 | | 33,619,786.02 | | (2,419,285.12 | ) | 1998 | | 30 Years | | Promenade Terrace | | Corona, CA | | 2,282,800.00 | | 21,651,294.49 | | 23,934,094.49 | | (5,177,431.95 | ) | 1990 | | 30 Years | | Promontory Pointe I & II | | Phoenix, AZ | | 2,355,509.00 | | 31,585,069.35 | | 33,940,578.35 | | (5,915,984.99 | ) | 1984/1996 | | 30 Years | | Prospect Towers | | Hackensack, NJ | | 3,926,600.00 | | 30,113,683.36 | | 34,040,283.36 | | (5,171,207.86 | ) | 1995 | | 30 Years | | Prospect Towers II | | Hackensack, NJ | | 4,500,000.00 | | 32,993,243.46 | | 37,493,243.46 | | (586,316.61 | ) | 2002 | | 30 Years | | Providence at Kirby | | Houston, TX | | 3,945,000.00 | | 20,587,881.75 | | 24,532,881.75 | | (68,096.95 | ) | 1999 | | 30 Years | | Pueblo Villas | | Albuquerque, NM | | 855,600.00 | | 9,455,957.67 | | 10,311,557.67 | | (2,723,921.65 | ) | 1975 | | 30 Years | | Quail Call | | Albany, GA | | 104,723.44 | | 1,042,348.95 | | 1,147,072.39 | | (153,869.35 | ) | 1984 | | 30 Years | | Ramblewood I (Val) | | Valdosta, GA | | 132,083.69 | | 1,251,762.74 | | 1,383,846.43 | | (164,670.21 | ) | 1983 | | 30 Years | | Ramblewood II (Aug) | | Augusta, GA | | 169,269.38 | | 1,765,550.10 | | 1,934,819.48 | | (255,688.81 | ) | 1986 | | 30 Years | | Ramblewood II (Val) | | Valdosta, GA | | 61,672.12 | | 571,391.93 | | 633,064.05 | | (75,448.32 | ) | 1983 | | 30 Years | | Ranchside | | New Port Richey, FL | | 144,692.45 | | 1,423,279.42 | | 1,567,971.87 | | (190,994.64 | ) | 1985 | | 30 Years | | Ranchstone | | Houston, TX | | 770,000.00 | | 15,648,377.38 | | 16,418,377.38 | | (2,412,056.59 | ) | 1996 | | 30 Years | | Ravens Crest | | Plainsboro, NJ | | 4,670,850.00 | | 46,074,847.77 | | 50,745,697.77 | | (14,616,778.19 | ) | 1984 | | 30 Years | | Ravinia | | Greenfield, WI | | 1,240,100.00 | | 12,523,642.63 | | 13,763,742.63 | | (2,330,780.77 | ) | 1991 | | 30 Years | | Red Deer I | | Fairborn, OH | | 204,316.78 | | 1,950,588.34 | | 2,154,905.12 | | (244,784.45 | ) | 1986 | | 30 Years | | Red Deer II | | Fairborn, OH | | 193,851.63 | | 1,826,631.66 | | 2,020,483.29 | | (227,385.90 | ) | 1987 | | 30 Years | | Redan Village I | | Decatur, GA | | 274,294.48 | | 2,614,760.22 | | 2,889,054.70 | | (332,444.35 | ) | 1984 | | 30 Years | | Redan Village II | | Decatur, GA | | 240,605.46 | | 2,244,325.05 | | 2,484,930.51 | | (273,768.11 | ) | 1986 | | 30 Years | | Redlands Lawn and Tennis | | Redlands, CA | | 4,822,320.00 | | 27,809,573.19 | | 32,631,893.19 | | (5,348,475.44 | ) | 1986 | | 30 Years | | Regency | | Charlotte, NC | | 890,000.00 | | 12,413,639.25 | | 13,303,639.25 | | (1,942,899.42 | ) | 1986 | | 30 Years | | Regency Palms | | Huntington Beach, CA | | 1,857,400.00 | | 18,277,295.11 | | 20,134,695.11 | | (4,770,275.62 | ) | 1969 | | 30 Years | | Remington Place | | Pheonix, AZ | | 1,492,750.00 | | 15,336,170.67 | | 16,828,920.67 | | (4,166,676.06 | ) | 1983 | | 30 Years | | Reserve at Ashley Lake | | Boynton Beach, FL | | 3,520,400.00 | | 24,436,420.53 | | 27,956,820.53 | | (4,751,256.08 | ) | 1990 | | 30 Years | | Reserve at Fairfax Corners | | Fairfax, VA | | 15,804,057.13 | | 63,292,949.37 | | 79,097,006.50 | | (407,712.06 | ) | 2001 | | 30 Years | | Reserve Square Combined | | Cleveland, OH(G) | | 2,618,851.89 | | 38,839,738.80 | | 41,458,590.69 | | (15,856,039.43 | ) | 1973 | | 30 Years | | Retreat, The | | Phoenix, AZ | | 3,475,114.00 | | 27,587,800.96 | | (31,062,914.96 | ) | (3,540,432.38 | ) | 1999 | | 30 Years | | Ribbon Mill | | Manchester, CT | | 787,929.00 | | 5,414,607.47 | | 6,202,536.47 | | (435,437.24 | ) | 1908 | | 30 Years | | Richmond Townhomes | | Houston, TX | | 940,000.00 | | 14,324,384.69 | | 15,264,384.69 | | (2,229,797.16 | ) | 1995 | | 30 Years | | Ridgewood (Lou) | | Louisville, KY | | 163,685.89 | | 1,514,200.90 | | 1,677,886.79 | | (186,061.50 | ) | 1984 | | 30 Years | | Ridgewood (MI) | | Westland, MI | | 176,968.96 | | 1,726,920.96 | | 1,903,889.92 | | (216,625.82 | ) | 1983 | | 30 Years | | Ridgewood (Rus) | | Russellville, KY | | 69,156.10 | | 695,662.75 | | 764,818.85 | | (107,262.68 | ) | 1984 | | 30 Years | | Ridgewood I (Bed) | | Bedford, IN | | 107,119.92 | | 1,045,194.43 | | 1,152,314.35 | | (143,234.10 | ) | 1984 | | 30 Years | | Ridgewood I (Elk) | | Elkhart, IN | | 159,371.17 | | 1,616,579.23 | | 1,775,950.40 | | (215,866.26 | ) | 1984 | | 30 Years | | Ridgewood I (GA) | | Decatur, GA | | 230,574.17 | | 2,182,412.58 | | 2,412,986.75 | | (274,469.89 | ) | 1984 | | 30 Years | | Ridgewood I (Lex) | | Lexington, KY | | 203,719.66 | | 1,929,573.36 | | 2,133,293.02 | | (241,712.24 | ) | 1984 | | 30 Years | | Ridgewood I (OH) | | Columbus, OH | | 174,065.87 | | 1,707,967.87 | | 1,882,033.74 | | (218,162.26 | ) | 1984 | | 30 Years | | Ridgewood II (Bed) | | Bedford, IN | | 99,558.74 | | 955,077.57 | | 1,054,636.31 | | (129,722.95 | ) | 1986 | | 30 Years | | Ridgewood II (Elk) | | Elkhart, IN | | 215,334.70 | | 2,180,038.78 | | 2,395,373.48 | | (299,692.76 | ) | 1986 | | 30 Years | | Ridgewood II (GA) | | Decatur, GA | | 164,999.02 | | 1,528,222.56 | | 1,693,221.58 | | (185,620.14 | ) | 1986 | | 30 Years | | Ridgewood II (OH) | | Columbus, OH | | 162,913.98 | | 1,563,607.32 | | 1,726,521.30 | | (200,311.82 | ) | 1985 | | 30 Years | | Ridgewood Village | | San Diego, CA | | 5,761,500.00 | | 14,171,835.55 | | 19,933,335.55 | | (2,554,075.83 | ) | 1997 | | 30 Years | | Ridgewood Village II | | San Diego, CA | | 6,048,000.00 | | 20,000,216.85 | | 26,048,216.85 | | (1,511,868.82 | ) | 1997 | | 30 Years | | Rincon | | Houston, TX | | 4,401,900.00 | | 17,365,005.53 | | 21,766,905.53 | | (3,571,362.26 | ) | 1996 | | 30 Years | | River Glen I | | Reynoldsburg, OH | | 171,271.91 | | 1,611,726.72 | | 1,782,998.63 | | (199,011.16 | ) | 1987 | | 30 Years | | River Glen II | | Reynoldsburg, OH | | 158,683.55 | | 1,531,648.41 | | 1,690,331.96 | | (183,384.77 | ) | 1987 | | 30 Years | | River Hill | | Grand Prairie, TX | | 2,004,000.00 | | 19,922,086.75 | | 21,926,086.75 | | (3,141,832.16 | ) | 1996 | | 30 Years | | River Oaks (CA) | | Oceanside, CA | | 5,600,000.00 | | 21,198,335.90 | | 26,798,335.90 | | (1,514,304.00 | ) | 1984 | | 30 Years | | River Park | | Fort Worth, TX | | 2,245,400.00 | | 10,601,595.40 | | 12,846,995.40 | | (2,158,402.47 | ) | 1984 | | 30 Years | | Rivers Bend (CT) | | Windsor, CT | | 3,325,516.73 | | 22,458,934.66 | | 25,784,451.39 | | (1,784,770.69 | ) | 1973 | | 30 Years | | Rivers Edge | | Waterbury, CT | | 781,900.00 | | 6,903,364.24 | | 7,685,264.24 | | (1,196,445.82 | ) | 1974 | | 30 Years | | Rivers End I | | Jacksonville, FL | | 171,744.81 | | 1,699,523.42 | | 1,871,268.23 | | (226,129.81 | ) | 1986 | | 30 Years | | Rivers End II | | Jacksonville, FL | | 190,687.68 | | 1,848,841.91 | | 2,039,529.59 | | (244,063.85 | ) | 1986 | | 30 Years | | River Pointe at Den Rock Park | | Lawrence, MA | | 4,615,702.11 | | 18,406,208.83 | | 23,021,910.94 | | — | | 2000 | | 30 Years | | Riverside Park | | Tulsa, OK | | 1,441,400.00 | | 12,934,741.60 | | 14,376,141.60 | | (2,619,595.36 | ) | 1994 | | 30 Years | | Riverview Condominiums | | Norwalk, CT | | 2,300,000.00 | | 8,155,539.60 | | 10,455,539.60 | | (609,557.75 | ) | 1991 | | 30 Years | | Roanoke | | Rochester Hills, MI | | 369,911.16 | | 3,419,539.51 | | 3,789,450.67 | | (415,987.31 | ) | 1985 | | 30 Years | | Rock Creek | | Corrboro, NC | | 895,700.00 | | 8,733,585.87 | | 9,629,285.87 | | (2,098,864.53 | ) | 1986 | | 30 Years | | Rockingham Glen | | West Roxbury, MA | | 1,124,216.91 | | 7,692,689.76 | | 8,816,906.67 | | (632,324.37 | ) | 1974 | | 30 Years | | Rolido Parque | | Houston, TX | | 2,955,900.00 | | 9,238,237.83 | | 12,194,137.83 | | (2,128,163.25 | ) | 1978 | | 30 Years | | Rolling Green (Amherst) | | Amherst, MA | | 1,340,701.85 | | 9,417,209.37 | | 10,757,911.22 | | (800,919.63 | ) | 1970 | | 30 Years | | Rolling Green (Fall River) | | Fall River, MA | | 2,481,821.11 | | 17,510,779.76 | | 19,992,600.87 | | (1,519,323.33 | ) | 1971 | | 30 Years | | Rolling Green (Milford) | | Milford, MA | | 2,012,350.35 | | 14,319,262.10 | | 16,331,612.45 | | (1,245,454.47 | ) | 1970 | | 30 Years | | Rosecliff | | Quincy, MA | | 5,460,000.00 | | 15,778,906.37 | | 21,238,906.37 | | (1,915,722.63 | ) | 1990 | | 30 Years | | Rosehill Pointe | | Lenexa, KS | | 2,093,300.00 | | 22,092,907.45 | | 24,186,207.45 | | (6,327,029.73 | ) | 1984 | | 30 Years | | Rosewood (KY) | | Louisville, KY | | 253,452.90 | | 2,451,606.25 | | 2,705,059.15 | | (300,448.90 | ) | 1984 | | 30 Years | | Rosewood (OH) | | Columbus, OH | | 212,378.37 | | 2,098,628.45 | | 2,311,006.82 | | (271,061.90 | ) | 1985 | | 30 Years | | Rosewood Commons I | | Indianapolis, IN | | 228,644.39 | | 2,228,090.77 | | 2,456,735.16 | | (306,776.85 | ) | 1986 | | 30 Years | | Rosewood Commons II | | Indianapolis, IN | | 220,463.03 | | 2,105,682.82 | | 2,326,145.85 | | (279,542.53 | ) | 1987 | | 30 Years | | Royal Oak | | Eagan, MN | | 1,602,903.51 | | 15,215,000.42 | | 16,817,903.93 | | (2,953,451.43 | ) | 1989 | | 30 Years | | Royal Oaks (FL) | | Jacksonville, FL | | 1,988,000.00 | | 14,192,677.99 | | 16,180,677.99 | | (2,300,536.06 | ) | 1991 | | 30 Years | | Royale | | Cranston, RI | | 512,785.47 | | 3,533,447.53 | | 4,046,233.00 | | (291,644.79 | ) | 1976 | | 30 Years | | Sabal Palm at Boot Ranch | | Palm Harbor, FL | | 3,888,000.00 | | 29,875,480.45 | | 33,763,480.45 | | (4,612,557.84 | ) | 1996 | | 30 Years | | Sabal Palm at Carrollwood Place | | Tampa, FL | | 3,888,000.00 | | 27,551,515.20 | | 31,439,515.20 | | (4,257,852.51 | ) | 1995 | | 30 Years | | Sabal Palm at Lake Buena Vista | | Orlando, FL | | 2,800,000.00 | | 24,520,814.35 | | 27,320,814.35 | | (3,899,611.72 | ) | 1988 | | 30 Years | | Sabal Palm at Metrowest | | Orlando, FL | | 4,110,000.00 | | 39,471,955.07 | | 43,581,955.07 | | (5,973,716.16 | ) | 1998 | | 30 Years | | Sabal Palm at Metrowest II | | Orlando, FL | | 4,560,000.00 | | 34,364,797.58 | | 38,924,797.58 | | (5,227,802.71 | ) | 1997 | | 30 Years | | Sabal Pointe | | Coral Springs, FL | | 1,951,600.00 | | 19,207,526.44 | | 21,159,126.44 | | (4,678,294.78 | ) | 1995 | | 30 Years | | Saddle Ridge | | Ashburn, VA | | 1,364,800.00 | | 13,046,086.29 | | 14,410,886.29 | | (3,464,047.40 | ) | 1989 | | 30 Years | | Sailboat Bay | | Raleigh, NC | | 960,000.00 | | 9,204,555.34 | | 10,164,555.34 | | (1,509,935.68 | ) | 1986 | | 30 Years | | St. Andrews at Winston Park | | Coconut Creek, FL | | 5,680,000.00 | | 19,947,695.51 | | 25,627,695.51 | | (473,938.27 | ) | 1997 | | 30 Years | | Sandalwood | | Toledo, OH | | 151,926.23 | | 1,402,129.71 | | 1,554,055.94 | | (171,824.61 | ) | 1984 | | 30 Years | | Sandpiper II | | Fort Pierce, FL | | 155,495.65 | | 1,676,299.75 | | 1,831,795.40 | | (248,159.44 | ) | 1982 | | 30 Years | | Sanford Court | | Sanford, FL | | 238,814.10 | | 2,399,349.30 | | 2,638,163.40 | | (333,865.38 | ) | 1976 | | 30 Years | | Savannah Lakes | | Boynton Beach, FL | | 7,000,000.00 | | 30,495,413.96 | | 37,495,413.96 | | (520,699.07 | ) | 1991 | | 30 Years | |
S - 9
Description | | | | Initial Cost to Company | | Cost Capitalized Subsequent to Acquisition (Improvements, net)(E) | | Apartment Name | | Location | | Encumbrances | | Land | | Building & Fixtures | | Land | | Building & Fixtures | | Scarborough Square | | Rockville, MD | | 4,949,751.44 | | 1,815,000.00 | | 7,608,125.57 | | — | | 733,217.16 | | Schooner Bay I | | Foster City, CA | | 27,000,000.00 | | 5,345,000.00 | | 16,545,650.58 | | — | | 217,348.48 | | Schooner Bay II | | Foster City, CA | | 23,760,000.00 | | 4,550,000.00 | | 14,607,258.63 | | — | | 162,574.87 | | Scottsdale Meadows | | Scottsdale, AZ | | — | | 1,512,000.00 | | 11,407,698.76 | | — | | 597,015.84 | | Security Manor | | Westfield, MA | | | (P) | 355,456.23 | | 2,376,152.12 | | — | | 29,939.74 | | Sedona Springs | | Austin, TX | | | (S) | 2,574,000.00 | | 23,477,042.72 | | — | | 964,952.99 | | Seeley Lake | | Lakewood, WA | | — | | 2,760,400.00 | | 24,845,286.28 | | — | | 1,167,454.42 | | Settlers Point | | Salt Lake City, UT | | — | | 1,715,100.00 | | 15,437,046.26 | | — | | 1,241,146.25 | | Seventh & James | | Seattle, WA | | — | | 663,800.00 | | 5,974,802.99 | | — | | 1,747,327.05 | | Shadetree | | West Palm Beach, FL | | — | | 532,000.00 | | 1,420,721.36 | | — | | 230,771.10 | | Shadow Bay I | | Jacksonville, FL | | — | | 123,318.51 | | 1,086,720.43 | | — | | 100,036.70 | | Shadow Bay II | | Jacksonville, FL | | 953,942.18 | | 139,708.74 | | 1,231,134.03 | | — | | 105,578.16 | | Shadow Brook | | Scottsdale, AZ | | — | | 3,065,496.00 | | 18,367,686.39 | | — | | 824,719.44 | | Shadow Lake | | Doraville, GA | | — | | 1,140,000.00 | | 13,117,276.66 | | — | | 403,494.70 | | Shadow Ridge | | Tallahassee, FL | | — | | 150,326.51 | | 1,324,061.38 | | — | | 169,977.70 | | Shadow Trace | | Stone Mountain, GA | | — | | 244,320.39 | | 2,152,728.92 | | — | | 178,865.81 | | Shadowood I | | Sarasota, FL | | 600,000.00 | | 157,660.55 | | 1,389,061.24 | | — | | 198,233.23 | | Shadowood II | | Sarasota, FL | | 1,165,302.92 | | 152,030.92 | | 1,339,469.12 | | — | | 129,186.16 | | Sheffield Court | | Arlington, VA | | — | | 3,349,350.00 | | 31,960,799.88 | | — | | 1,798,556.06 | | Sherbrook (IN) | | Indianapolis, IN | | 1,597,767.51 | | 171,920.49 | | 1,514,706.88 | | — | | 127,570.05 | | Sherbrook (OH) | | Columbus, OH | | 1,064,011.07 | | 163,493.35 | | 1,440,035.77 | | — | | 157,780.10 | | Sherbrook (PA) | | Wexford, PA | | — | | 279,665.03 | | 2,464,403.71 | | — | | 197,106.83 | | Shoal Run | | Birmingham, AL | | — | | 1,380,000.00 | | 12,218,577.43 | | — | | 377,637.32 | | Siena Terrace | | Lake Forest, CA | | 17,814,299.72 | | 8,900,000.00 | | 24,083,023.60 | | — | | 536,376.55 | | Silver Creek | | Phoenix, AZ | | — | | 712,102.00 | | 6,707,495.59 | | — | | 395,765.94 | | Silver Forest | | Ocala, FL | | 825,954.02 | | 126,535.69 | | 1,114,917.31 | | — | | 65,202.92 | | Silver Shadow | | Las Vegas, NV | | — | | 953,440.00 | | 8,599,510.80 | | — | | 878,770.57 | | Silver Springs (FL) | | Jacksonville, FL | | — | | 1,831,100.00 | | 16,474,734.54 | | — | | 3,652,155.22 | | Silverwood | | Mission, KS | | | (M) | 1,230,000.00 | | 11,070,904.41 | | — | | 1,692,197.65 | | Sky Pines I | | Orlando, FL | | 2,203,000.17 | | 349,028.75 | | 3,075,448.67 | | — | | 251,803.70 | | Sky Ridge | | Woodstock, GA | | — | | 437,373.49 | | 3,853,792.10 | | — | | 264,118.40 | | Skycrest | | Valencia, CA | | 18,138,338.01 | | 10,560,000.00 | | 25,574,457.27 | | — | | 209,167.90 | | Skylark | | Union City, CA | | — | | 1,781,600.00 | | 16,731,915.87 | | — | | 532,312.48 | | Skyview | | Rancho Santa Margarita, CA | | — | | 3,380,000.00 | | 21,953,151.07 | | — | | 198,219.23 | �� | Slate Run (Hop) | | Hopkinsville, KY | | — | | 91,303.73 | | 804,535.36 | | — | | 113,394.62 | | Slate Run (Ind) | | Indianapolis, IN | | 1,953,399.94 | | 295,593.01 | | 2,604,496.55 | | — | | 322,379.41 | | Slate Run (Leb) | | Lebanon, IN | | 1,185,948.26 | | 154,060.96 | | 1,357,444.95 | | — | | 157,232.60 | | Slate Run (Mia) | | Miamisburg, OH | | 816,516.69 | | 136,064.79 | | 1,198,879.10 | | — | | 117,797.65 | | Slate Run I (Lou) | | Louisville, KY | | — | | 179,765.59 | | 1,583,930.73 | | — | | 197,808.63 | | Slate Run II (Lou) | | Louisville, KY | | 1,123,961.26 | | 167,722.89 | | 1,477,722.46 | | — | | 137,959.06 | | Smoketree Polo Club | | Indio, CA | | 8,050,000.00 | | 867,200.00 | | 6,971,076.37 | | — | | 968,302.65 | | Sommerset Place | | Raleigh, NC | | — | | 360,000.00 | | 7,800,205.70 | | — | | 369,787.49 | | Sonata at Cherry Creek | | Denver, CO | | — | | 5,490,000.00 | | 18,130,479.26 | | — | | 169,827.72 | | Songbird | | San Antonio, TX | | — | | 1,082,500.00 | | 9,733,790.98 | | — | | 1,438,282.59 | | Sonoran | | Phoenix, AZ | | — | | 2,361,922.00 | | 31,841,723.63 | | — | | 759,966.64 | | Sonterra at Foothill Ranch | | Foothill Ranch, CA | | | (R) | 7,503,400.00 | | 24,048,506.71 | | — | | 256,681.97 | | South Creek | | Phoenix, AZ | | — | | 2,671,300.00 | | 24,042,041.82 | | — | | 1,708,685.09 | | South Pointe | | St. Louis, MO | | 7,110,322.24 | | 961,100.00 | | 8,651,149.61 | | — | | 859,306.63 | | South Shore | | Stockton, CA | | 6,833,000.00 | | 840,000.00 | | 6,512,940.85 | | — | | 323,612.01 | | Southwood | | Palo Alto, CA | | — | | 6,936,600.00 | | 14,324,068.88 | | — | | 852,616.59 | | Spicewood | | Indianapolis, IN | | 984,566.00 | | 128,354.56 | | 1,131,043.53 | | — | | 95,056.82 | | Spicewood Springs | | Jacksonville, FL | | — | | 1,536,000.00 | | 21,138,008.81 | | — | | 2,796,500.05 | | Spinnaker Cove | | Hermitage, TN | | | (M) | 1,461,731.24 | | 12,770,420.93 | | — | | 1,205,081.29 | | Spring Gate | | Springfield, FL | | — | | 132,951.42 | | 1,171,446.91 | | — | | 250,379.11 | | Spring Hill Commons | | Acton, MA | | — | | 1,107,435.54 | | 7,402,979.90 | | — | | 187,570.19 | | Spring Lake Manor | | Birmingham, AL(T) | | 3,704,348.14 | | 199,991.58 | | 4,512,048.07 | | — | | 714,712.33 | | Springbrook | | Anderson, SC | | 1,647,722.54 | | 168,958.84 | | 1,488,611.47 | | — | | 241,765.49 | | Springs Colony | | Altamonte Springs, FL | | | (M) | 640,400.00 | | 5,852,156.88 | | — | | 1,172,603.09 | | Springtree (REIT) | | W. Palm Beach, FL | | 1,174,930.37 | | 183,100.00 | | 1,648,300.69 | | — | | 54,022.61 | | Springwood (Col) | | Columbus, OH | | 1,034,147.04 | | 189,947.71 | | 1,672,888.81 | | — | | 182,076.55 | | Springwood (IN) | | New Haven, IN | | — | | 119,198.99 | | 1,050,337.97 | | — | | 131,424.49 | | Squaw Peak Condo, LLC | | Phoenix, AZ | | — | | — | | — | | — | | 147,345.78 | | Steeplechase | | Charlotte, NC | | — | | 1,111,500.00 | | 10,180,749.95 | | — | | 539,016.49 | | Sterling Point | | Littleton, CO | | — | | 935,500.00 | | 8,419,199.52 | | — | | 565,194.71 | | Stewart Way I | | Hinesville, GA | | 2,099,432.15 | | 290,772.56 | | 2,562,373.14 | | — | | 216,002.56 | | Stillwater | | Savannah, GA | | 891,950.18 | | 151,197.79 | | 1,332,417.32 | | — | | 65,417.51 | | Stone Crossing | | Montgomery, AL(T) | | 1,965,996.06 | | 103,186.01 | | 2,716,315.53 | | — | | 327,880.02 | | Stone Oak | | Houston, TX | | — | | 2,544,000.00 | | 17,486,077.12 | | — | | (1,735.08 | ) | Stonehenge (Day) | | Dayton, OH | | — | | 202,293.85 | | 1,782,140.24 | | — | | 162,701.16 | | Stonehenge (Ind) | | Indianapolis, IN | | 1,154,560.95 | | 146,810.32 | | 1,293,558.94 | | — | | 163,517.68 | | Stonehenge (Jas) | | Jasper, IN | | 411,010.05 | | 78,334.74 | | 690,214.46 | | — | | 72,061.17 | | Stonehenge (KY) | | Glasgow, KY | | 764,674.44 | | 111,631.60 | | 983,596.05 | | — | | 75,962.88 | | Stonehenge (Mas) | | Massillon, OH | | — | | 145,386.28 | | 1,281,011.57 | | — | | 157,497.25 | | Stonehenge I (Ric) | | Richmond, IN | | 1,081,150.23 | | 156,342.98 | | 1,377,552.00 | | — | | 212,435.25 | | Stoney Creek | | Lakewood, WA | | — | | 1,215,200.00 | | 10,938,133.89 | | — | | 806,402.42 | | Stratford Square | | Winter Park, FL(T) | | 4,926,349.82 | | 391,300.00 | | 3,176,441.37 | | — | | 312,029.20 | | Strawberry Place | | Plant City, FL | | — | | 78,444.76 | | 691,183.84 | | — | | 108,071.79 | | Sturbridge Meadows | | Sturbridge, MA | | 2,245,460.96 | | 702,446.99 | | 4,695,714.32 | | — | | 123,434.60 | | Suffolk Grove I | | Grove City, OH | | — | | 214,106.74 | | 1,886,414.73 | | — | | 206,034.85 | | Suffolk Grove II | | Grove City, OH | | — | | 167,682.97 | | 1,477,568.67 | | — | | 142,890.80 | | Sugartree I | | New Smyna Beach, FL | | 933,161.14 | | 155,018.08 | | 1,453,696.13 | | — | | 144,201.28 | | Summer Chase | | Denver, CO | | | (Q) | 1,709,200.00 | | 15,375,007.91 | | — | | 2,168,521.68 | | Summer Creek | | Plymouth, MN | | 2,174,330.19 | | 579,600.00 | | 3,815,800.17 | | — | | 306,358.37 | | Summer Ridge | | Riverside, CA | | — | | 602,400.00 | | 5,422,807.38 | | — | | 343,719.80 | | Summerhill Glen | | Maynard, MA | | 1,952,538.75 | | 415,812.01 | | 2,779,618.15 | | — | | 162,005.07 | |
Description | | Gross Amount Carried at Close of Period 12/31/02 | | | | | | | | | | Apartment Name | | Location | | Land | | Building & Fixtures(A) | | Total(B) | | Accumulated Depreciation | | Date of Construction | | Life Used to Compute Depreciation in Latest Income Statement(C) | Scarborough Square | | Rockville, MD | | 1,815,000.00 | | 8,341,342.73 | | 10,156,342.73 | | (1,318,413.49 | | 1967 | | 30 Years | Schooner Bay I | | Foster City, CA | | 5,345,000.00 | | 16,762,999.06 | | 22,107,999.06 | | (930,578.23 | ) | 1985 | | 30 Years | | Schooner Bay II | | Foster City, CA | | 4,550,000.00 | | 14,769,833.50 | | 19,319,833.50 | | (816,559.38 | ) | 1985 | | 30 Years | | Scottsdale Meadows | | Scottsdale, AZ | | 1,512,000.00 | | 12,004,714.60 | | 13,516,714.60 | | (2,279,417.94 | ) | 1984 | | 30 Years | | Security Manor | | Westfield, MA | | 355,456.23 | | 2,406,091.86 | | 2,761,548.09 | | (199,325.67 | ) | 1971 | | 30 Years | | Sedona Springs | | Austin, TX | | 2,574,000.00 | | 24,441,995.71 | | 27,015,995.71 | | (3,871,987.62 | ) | 1995 | | 30 Years | | Seeley Lake | | Lakewood, WA | | 2,760,400.00 | | 26,012,740.70 | | 28,773,140.70 | | (5,505,299.43 | ) | 1990 | | 30 Years | | Settlers Point | | Salt Lake City, UT | | 1,715,100.00 | | 16,678,192.51 | | 18,393,292.51 | | (3,633,801.88 | ) | 1986 | | 30 Years | | Seventh & James | | Seattle, WA | | 663,800.00 | | 7,722,130.04 | | 8,385,930.04 | | (1,653,124.21 | ) | 1992 | | 30 Years | | Shadetree | | West Palm Beach, FL | | 532,000.00 | | 1,651,492.46 | | 2,183,492.46 | | (110,900.87 | ) | 1982 | | 30 Years | | Shadow Bay I | | Jacksonville, FL | | 123,318.51 | | 1,186,757.13 | | 1,310,075.64 | | (165,286.97 | ) | 1984 | | 30 Years | | Shadow Bay II | | Jacksonville, FL | | 139,708.74 | | 1,336,712.19 | | 1,476,420.93 | | (181,896.61 | ) | 1985 | | 30 Years | | Shadow Brook | | Scottsdale, AZ | | 3,065,496.00 | | 19,192,405.83 | | 22,257,901.83 | | (3,630,294.72 | ) | 1984 | | 30 Years | | Shadow Lake | | Doraville, GA | | 1,140,000.00 | | 13,520,771.36 | | 14,660,771.36 | | (2,118,224.34 | ) | 1989 | | 30 Years | | Shadow Ridge | | Tallahassee, FL | | 150,326.51 | | 1,494,039.08 | | 1,644,365.59 | | (198,240.95 | ) | 1983 | | 30 Years | | Shadow Trace | | Stone Mountain, GA | | 244,320.39 | | 2,331,594.73 | | 2,575,915.12 | | (303,504.23 | ) | 1984 | | 30 Years | | Shadowood I | | Sarasota, FL | | 157,660.55 | | 1,587,294.47 | | 1,744,955.02 | | (205,204.52 | ) | 1982 | | 30 Years | | Shadowood II | | Sarasota, FL | | 152,030.92 | | 1,468,655.28 | | 1,620,686.20 | | (183,129.95 | ) | 1983 | | 30 Years | | Sheffield Court | | Arlington, VA | | 3,349,350.00 | | 33,759,355.94 | | 37,108,705.94 | | (9,481,235.25 | ) | 1986 | | 30 Years | | Sherbrook (IN) | | Indianapolis, IN | | 171,920.49 | | 1,642,276.93 | | 1,814,197.42 | | (226,063.50 | ) | 1986 | | 30 Years | | Sherbrook (OH) | | Columbus, OH | | 163,493.35 | | 1,597,815.87 | | 1,761,309.22 | | (217,330.67 | ) | 1985 | | 30 Years | | Sherbrook (PA) | | Wexford, PA | | 279,665.03 | | 2,661,510.54 | | 2,941,175.57 | | (333,119.13 | ) | 1986 | | 30 Years | | Shoal Run | | Birmingham, AL | | 1,380,000.00 | | 12,596,214.75 | | 13,976,214.75 | | (2,009,322.07 | ) | 1986 | | 30 Years | | Siena Terrace | | Lake Forest, CA | | 8,900,000.00 | | 24,619,400.15 | | 33,519,400.15 | | (3,509,394.69 | ) | 1988 | | 30 Years | | Silver Creek | | Phoenix, AZ | | 712,102.00 | | 7,103,261.53 | | 7,815,363.53 | | (1,434,514.39 | ) | 1986 | | 30 Years | | Silver Forest | | Ocala, FL | | 126,535.69 | | 1,180,120.23 | | 1,306,655.92 | | (148,986.57 | ) | 1985 | | 30 Years | | Silver Shadow | | Las Vegas, NV | | 953,440.00 | | 9,478,281.37 | | 10,431,721.37 | | (3,206,859.68 | ) | 1992 | | 30 Years | | Silver Springs (FL) | | Jacksonville, FL | | 1,831,100.00 | | 20,126,889.76 | | 21,957,989.76 | | (4,327,304.69 | ) | 1985 | | 30 Years | | Silverwood | | Mission, KS | | 1,230,000.00 | | 12,763,102.06 | | 13,993,102.06 | | (4,130,330.54 | ) | 1986 | | 30 Years | | Sky Pines I | | Orlando, FL | | 349,028.75 | | 3,327,252.37 | | 3,676,281.12 | | (441,212.34 | ) | 1986 | | 30 Years | | Sky Ridge | | Woodstock, GA | | 437,373.49 | | 4,117,910.50 | | 4,555,283.99 | | (506,082.10 | ) | 1987 | | 30 Years | | Skycrest | | Valencia, CA | | 10,560,000.00 | | 25,783,625.17 | | 36,343,625.17 | | (1,845,998.77 | ) | 1999 | | 30 Years | | Skylark | | Union City, CA | | 1,781,600.00 | | 17,264,228.35 | | 19,045,828.35 | | (2,739,878.72 | ) | 1986 | | 30 Years | | Skyview | | Rancho Santa Margarita, CA | | 3,380,000.00 | | 22,151,370.30 | | 25,531,370.30 | | (2,848,815.21 | ) | 1999 | | 30 Years | | Slate Run (Hop) | | Hopkinsville, KY | | 91,303.73 | | 917,929.98 | | 1,009,233.71 | | (134,902.23 | ) | 1984 | | 30 Years | | Slate Run (Ind) | | Indianapolis, IN | | 295,593.01 | | 2,926,875.96 | | 3,222,468.97 | | (373,301.40 | ) | 1984 | | 30 Years | | Slate Run (Leb) | | Lebanon, IN | | 154,060.96 | | 1,514,677.55 | | 1,668,738.51 | | (211,660.10 | ) | 1984 | | 30 Years | | Slate Run (Mia) | | Miamisburg, OH | | 136,064.79 | | 1,316,676.75 | | 1,452,741.54 | | (164,529.61 | ) | 1985 | | 30 Years | | Slate Run I (Lou) | | Louisville, KY | | 179,765.59 | | 1,781,739.36 | | 1,961,504.95 | | (221,945.43 | ) | 1984 | | 30 Years | | Slate Run II (Lou) | | Louisville, KY | | 167,722.89 | | 1,615,681.52 | | 1,783,404.41 | | (193,916.58 | ) | 1985 | | 30 Years | | Smoketree Polo Club | | Indio, CA | | 867,200.00 | | 7,939,379.02 | | 8,806,579.02 | | (1,535,967.22 | ) | 1987-89 | | 30 Years | | Sommerset Place | | Raleigh, NC | | 360,000.00 | | 8,169,993.19 | | 8,529,993.19 | | (1,321,731.93 | ) | 1983 | | 30 Years | | Sonata at Cherry Creek | | Denver, CO | | 5,490,000.00 | | 18,300,306.98 | | 23,790,306.98 | | (1,380,474.18 | ) | 1999 | | 30 Years | | Songbird | | San Antonio, TX | | 1,082,500.00 | | 11,172,073.57 | | 12,254,573.57 | | (2,977,630.32 | ) | 1981 | | 30 Years | | Sonoran | | Phoenix, AZ | | 2,361,922.00 | | 32,601,690.27 | | 34,963,612.27 | | (6,077,528.74 | ) | 1995 | | 30 Years | | Sonterra at Foothill Ranch | | Foothill Ranch, CA | | 7,503,400.00 | | 24,305,188.68 | | 31,808,588.68 | | (4,128,409.63 | ) | 1997 | | 30 Years | | South Creek | | Phoenix, AZ | | 2,671,300.00 | | 25,750,726.91 | | 28,422,026.91 | | (6,566,231.02 | ) | 1986-89 | | 30 Years | | South Pointe | | St. Louis, MO | | 961,100.00 | | 9,510,456.24 | | 10,471,556.24 | | (2,234,439.41 | ) | 1986 | | 30 Years | | South Shore | | Stockton, CA | | 840,000.00 | | 6,836,552.86 | | 7,676,552.86 | | (450,598.86 | ) | 1979 | | 30 Years | | Southwood | | Palo Alto, CA | | 6,936,600.00 | | 15,176,685.47 | | 22,113,285.47 | | (2,670,479.57 | ) | 1985 | | 30 Years | | Spicewood | | Indianapolis, IN | | 128,354.56 | | 1,226,100.35 | | 1,354,454.91 | | (155,616.70 | ) | 1986 | | 30 Years | | Spicewood Springs | | Jacksonville, FL | | 1,536,000.00 | | 23,934,508.86 | | 25,470,508.86 | | (4,229,176.56 | ) | 1986 | | 30 Years | | Spinnaker Cove | | Hermitage, TN | | 1,461,731.24 | | 13,975,502.22 | | 15,437,233.46 | | (3,199,137.67 | ) | 1986 | | 30 Years | | Spring Gate | | Springfield, FL | | 132,951.42 | | 1,421,826.02 | | 1,554,777.44 | | (217,853.46 | ) | 1983 | | 30 Years | | Spring Hill Commons | | Acton, MA | | 1,107,435.54 | | 7,590,550.09 | | 8,697,985.63 | | (599,422.45 | ) | 1973 | | 30 Years | | Spring Lake Manor | | Birmingham, AL(T) | | 199,991.58 | | 5,226,760.40 | | 5,426,751.98 | | (729,315.68 | ) | 1972 | | 30 Years | | Springbrook | | Anderson, SC | | 168,958.84 | | 1,730,376.96 | | 1,899,335.80 | | (219,899.45 | ) | 1986 | | 30 Years | | Springs Colony | | Altamonte Springs, FL | | 640,400.00 | | 7,024,759.97 | | 7,665,159.97 | | (2,537,728.50 | ) | 1986 | | 30 Years | | Springtree (REIT) | | W. Palm Beach, FL | | 183,100.00 | | 1,702,323.30 | | 1,885,423.30 | | (128,785.60 | ) | 1982 | | 30 Years | | Springwood (Col) | | Columbus, OH | | 189,947.71 | | 1,854,965.36 | | 2,044,913.07 | | (231,315.21 | ) | 1983 | | 30 Years | | Springwood (IN) | | New Haven, IN | | 119,198.99 | | 1,181,762.46 | | 1,300,961.45 | | (154,267.59 | ) | 1981 | | 30 Years | | Squaw Peak Condo, LLC | | Phoenix, AZ | | — | | 147,345.78 | | 147,345.78 | | — | ) | 1990 | | 30 Years | | Steeplechase | | Charlotte, NC | | 1,111,500.00 | | 10,719,766.44 | | 11,831,266.44 | | (1,811,165.77 | | 1986 | | 30 Years | | Sterling Point | | Littleton, CO | | 935,500.00 | | 8,984,394.23 | | 9,919,894.23 | | (1,916,829.03 | ) | 1979 | | 30 Years | | Stewart Way I | | Hinesville, GA | | 290,772.56 | | 2,778,375.70 | | 3,069,148.26 | | (380,605.15 | ) | 1986 | | 30 Years | | Stillwater | | Savannah, GA | | 151,197.79 | | 1,397,834.83 | | 1,549,032.62 | | (177,692.57 | ) | 1983 | | 30 Years | | Stone Crossing | | Montgomery, AL(T) | | 103,186.01 | | 3,044,195.55 | | 3,147,381.56 | | (439,262.36 | ) | 1973 | | 30 Years | | Stone Oak | | Houston, TX | | 2,544,000.00 | | 17,484,342.04 | | 20,028,342.04 | | (61,707.75 | ) | 1998 | | 30 Years | | Stonehenge (Day) | | Dayton, OH | | 202,293.85 | | 1,944,841.40 | | 2,147,135.25 | | (253,434.69 | ) | 1985 | | 30 Years | | Stonehenge (Ind) | | Indianapolis, IN | | 146,810.32 | | 1,457,076.62 | | 1,603,886.94 | | (216,588.99 | ) | 1984 | | 30 Years | | Stonehenge (Jas) | | Jasper, IN | | 78,334.74 | | 762,275.63 | | 840,610.37 | | (98,442.10 | ) | 1985 | | 30 Years | | Stonehenge (KY) | | Glasgow, KY | | 111,631.60 | | 1,059,558.93 | | 1,171,190.53 | | (143,763.02 | ) | 1983 | | 30 Years | | Stonehenge (Mas) | | Massillon, OH | | 145,386.28 | | 1,438,508.82 | | 1,583,895.10 | | (188,400.66 | ) | 1984 | | 30 Years | | Stonehenge I (Ric) | | Richmond, IN | | 156,342.98 | | 1,589,987.25 | | 1,746,330.23 | | (220,287.93 | ) | 1984 | | 30 Years | | Stoney Creek | | Lakewood, WA | | 1,215,200.00 | | 11,744,536.31 | | 12,959,736.31 | | (2,475,181.77 | ) | 1990 | | 30 Years | | Stratford Square | | Winter Park, FL(T) | | 391,300.00 | | 3,488,470.57 | | 3,879,770.57 | | (501,214.29 | ) | 1972 | | 30 Years | | Strawberry Place | | Plant City, FL | | 78,444.76 | | 799,255.63 | | 877,700.39 | | (119,558.59 | ) | 1982 | | 30 Years | | Sturbridge Meadows | | Sturbridge, MA | | 702,446.99 | | 4,819,148.92 | | 5,521,595.91 | | (394,923.32 | ) | 1985 | | 30 Years | | Suffolk Grove I | | Grove City, OH | | 214,106.74 | | 2,092,449.58 | | 2,306,556.32 | | (257,257.77 | ) | 1985 | | 30 Years | | Suffolk Grove II | | Grove City, OH | | 167,682.97 | | 1,620,459.47 | | 1,788,142.44 | | (192,983.39 | ) | 1987 | | 30 Years | | Sugartree I | | New Smyna Beach, FL | | 155,018.08 | | 1,597,897.41 | | 1,752,915.49 | | (207,569.75 | ) | 1984 | | 30 Years | | Summer Chase | | Denver, CO | | 1,709,200.00 | | 17,543,529.59 | | 19,252,729.59 | | (4,716,102.42 | ) | 1983 | | 30 Years | | Summer Creek | | Plymouth, MN | | 579,600.00 | | 4,122,158.54 | | 4,701,758.54 | | (773,981.60 | ) | 1985 | | 30 Years | | Summer Ridge | | Riverside, CA | | 602,400.00 | | 5,766,527.18 | | 6,368,927.18 | | (1,453,710.72 | ) | 1985 | | 30 Years | | Summerhill Glen | | Maynard, MA | | 415,812.01 | | 2,941,623.22 | | 3,357,435.23 | | (273,955.96 | ) | 1980 | | 30 Years | | | | | | | | | | | | | ) | | | | |
S - 10
Description | | | | Initial Cost to Company | | Cost Capitalized Subsequent to Acquisition (Improvements, net)(E) | | Apartment Name | | Location | | Encumbrances | | Land | | Building & Fixtures | | Land | | Building & Fixtures | | Summerset Village | | Chatsworth, CA | | | (Q) | 2,891,345.68 | | 23,702,466.45 | | — | | 724,786.26 | | Summerwood | | Hayward, CA | | — | | 4,866,600.00 | | 6,942,743.34 | | — | | 554,732.38 | | Summit & Birch Hill | | Farmington, CT | | | (P) | 1,757,437.88 | | 11,748,112.49 | | — | | 285,452.90 | | Summit at Lake Union | | Seattle, WA | | — | | 1,424,700.00 | | 12,852,461.39 | | — | | 1,018,110.93 | | Summit Center (FL) | | W. Palm Beach, FL | | 2,188,301.52 | | 670,000.00 | | 1,733,311.89 | | — | | 311,873.11 | | Summit Chase | | Coral Springs, FL | | — | | 1,122,100.00 | | 4,431,710.99 | | — | | 593,633.28 | | Sun Creek | | Glendale, AZ | | — | | 896,929.00 | | 7,066,939.86 | | — | | 398,617.41 | | Sunny Oak Village | | Overland Park, KS | | | (R) | 2,247,750.00 | | 20,230,536.38 | | — | | 3,439,448.58 | | Sunnyside | | Tifton, GA | | 1,272,055.24 | | 166,887.10 | | 1,470,612.23 | | — | | 179,112.32 | | Sunrise Springs | | Las Vegas, NV | | — | | 975,300.00 | | 8,775,662.32 | | — | | 850,829.53 | | Sunset Way I | | Miami, FL | | 1,533,067.81 | | 258,567.91 | | 2,278,539.10 | | — | | 268,280.23 | | Sunset Way II | | Miami, FL | | 2,528,324.39 | | 274,903.14 | | 2,422,546.26 | | — | | 220,664.36 | | Suntree | | West Palm Beach, FL | | — | | 469,000.00 | | 1,479,588.79 | | — | | 33,930.39 | | Suntree Village | | Oro Valley, AZ | | — | | 1,571,745.00 | | 13,095,941.30 | | — | | 1,050,641.87 | | Surrey Downs | | Bellevue, WA | | — | | 3,057,100.00 | | 7,848,618.09 | | — | | 473,703.69 | | Sutton Place | | Dallas, TX | | — | | 1,358,400.00 | | 12,227,724.86 | | — | | 3,509,923.33 | | Sutton Place (FL) | | Lakeland, FL | | 812,460.95 | | 120,887.43 | | 1,065,150.01 | | — | | 182,691.46 | | Sweetwater Glen | | Lawrenceville, GA | | — | | 500,000.00 | | 10,469,749.09 | | — | | 594,500.61 | | Sycamore Creek | | Scottsdale, AZ | | — | | 3,152,000.00 | | 19,083,727.11 | | — | | 896,655.29 | | Tabor Ridge | | Berea, OH | | — | | 235,940.28 | | 2,079,290.00 | | — | | 288,671.20 | | Talleyrand | | Tarrytown, NY(M) | | 35,000,000.00 | | 12,000,000.00 | | 49,639,416.46 | | — | | 79,227.44 | | Tamarlane | | Portland, ME | | — | | 690,900.00 | | 5,153,632.57 | | — | | 280,611.87 | | Tanasbourne Terrace | | Hillsboro, OR | | | (Q) | 1,876,700.00 | | 16,891,204.54 | | — | | 1,888,755.33 | | Tanglewood (RI) | | West Warwick, RI | | 6,466,265.99 | | 1,141,415.46 | | 7,630,128.68 | | — | | 120,135.79 | | Tanglewood (VA) | | Manassas, VA | | 25,110,000.00 | | 2,108,295.00 | | 20,932,970.86 | | — | | 1,901,040.99 | | Terrace Trace | | Tampa, FL | | 1,563,419.78 | | 193,916.40 | | 1,708,614.78 | | — | | 224,520.18 | | Three Chopt West | | Richmond, VA(T) | | 8,281,528.01 | | 432,956.59 | | 8,256,577.14 | | — | | 364,346.66 | | Thymewood II | | Miami, FL | | — | | 219,660.95 | | 1,936,463.36 | | — | | 146,603.79 | | Tierra Antigua | | Albuquerque, NM | | 6,406,402.21 | | 1,825,000.00 | | 7,792,856.06 | | — | | 126,898.69 | | Timber Hollow | | Chapel Hill, NC | | — | | 800,000.00 | | 11,219,536.59 | | — | | 935,383.57 | | Timbercreek | | Toledo, OH | | 1,472,904.88 | | 203,419.77 | | 1,792,349.87 | | — | | 148,062.83 | | Timberwalk | | Jacksonville, FL | | — | | 1,988,000.00 | | 13,204,218.78 | | — | | 699,574.61 | | Timberwood | | Aurora, CO | | — | | 1,518,600.00 | | 14,587,786.32 | | — | | 1,155,182.31 | | Timberwood (GA) | | Perry, GA | | — | | 144,299.39 | | 1,271,304.85 | | — | | 76,212.17 | | Toscana | | Irvine, CA | | — | | 39,410,000.00 | | 50,806,072.39 | | — | | 1,172,555.82 | | Town & Country | | Birmingham, AL(T) | | 2,341,799.87 | | 147,122.73 | | 2,610,973.58 | | — | | 278,261.40 | | Town Center (TX) | | Kingwood, TX | | — | | 1,291,300.00 | | 11,530,216.18 | | — | | 486,297.66 | | Town Center II (TX) | | Kingwood, TX | | — | | 1,375,000.00 | | 14,169,655.96 | | — | | 92,682.72 | | Townhomes of Meadowbrook | | Auburn Hills, MI | | 9,714,182.61 | | 1,382,600.00 | | 12,366,207.39 | | — | | 1,854,080.91 | | Townhouse Park | | Richmond, VA(T) | | 7,469,152.19 | | 384,176.00 | | 9,599,803.46 | | — | | 1,330,863.18 | | Trails (CO), The | | Aurora, CO | | | (Q) | 1,217,900.00 | | 8,877,204.73 | | — | | 2,575,039.27 | | Trails at Briar Forest | | Houston, TX | | 13,236,572.01 | | 2,380,000.00 | | 24,911,560.72 | | — | | 940,562.06 | | Trails at Dominion Park | | Houston, TX | | 13,937,236.33 | | 2,531,800.00 | | 35,699,589.07 | | — | | 2,328,398.71 | | Trailway Pond I | | Burnsville, MN | | 4,909,210.00 | | 479,284.26 | | 4,312,143.56 | | — | | 339,666.70 | | Trailway Pond II | | Burnsville, MN | | 11,354,755.00 | | 1,107,287.54 | | 9,961,408.87 | | — | | 454,028.69 | | Trinity Lakes | | Cordova, TN | | — | | 1,982,000.00 | | 14,941,745.65 | | — | | 950,557.70 | | Turf Club | | Littleton, CO | | | (S) | 2,107,300.00 | | 15,478,040.20 | | — | | 1,485,357.09 | | Turkscap I | | Brandon, FL | | — | | 125,766.44 | | 1,108,139.39 | | — | | 281,390.57 | | Turkscap III | | Brandon, FL | | 740,352.79 | | 135,850.08 | | 1,196,987.24 | | — | | 115,936.61 | | Twin Gates | | Birmingham, AL(T) | | 4,809,005.23 | | 273,144.27 | | 4,826,938.66 | | — | | 286,816.50 | | Tyrone Gardens | | Randolph, MA | | — | | 4,953,000.00 | | 5,799,572.09 | | — | | 640,282.98 | | University Square I | | Tampa, FL | | — | | 197,456.54 | | 1,739,807.29 | | — | | 180,271.73 | | Valencia Plantation | | Orlando, FL | | — | | 873,000.00 | | 12,819,377.37 | | — | | 223,161.18 | | Valley Creek I | | Woodbury, MN | | 12,815,000.00 | | 1,626,715.30 | | 14,634,831.43 | | — | | 1,057,766.60 | | Valley Creek II | | Woodbury, MN | | 10,100,000.00 | | 1,232,659.25 | | 11,097,830.18 | | — | | 484,784.15 | | Valleybrook | | Newnan, GA | | 1,446,171.23 | | 254,490.09 | | 2,242,463.08 | | — | | 77,907.34 | | Valleyfield (KY) | | Lexington, KY | | 1,767,839.89 | | 252,328.74 | | 2,223,757.07 | | — | | 247,806.97 | | Valleyfield (PA) | | Bridgeville, PA | | — | | 274,316.67 | | 2,417,028.77 | | — | | 215,756.86 | | Valleyfield I | | Decatur, GA | | 1,547,281.81 | | 252,413.03 | | 2,224,133.89 | | — | | 179,037.69 | | Valleyfield II | | Decatur, GA | | — | | 258,320.37 | | 2,276,083.97 | | — | | 118,879.23 | | Van Deene Manor | | West Springfield, MA | | | (P) | 744,491.11 | | 4,976,770.67 | | — | | 56,172.01 | | Via Ventura | | Scottsdale, AZ | | — | | 1,486,600.00 | | 13,382,005.92 | | — | | 6,203,780.83 | | Villa Encanto | | Phoenix, AZ | | | (S) | 2,884,447.00 | | 22,197,362.84 | | — | | 1,540,821.59 | | Villa Solana | | Laguna Hills, CA | | — | | 1,665,100.00 | | 14,985,677.51 | | — | | 2,027,096.71 | | Village at Bear Creek | | Lakewood, CO | | | (R) | 4,519,700.00 | | 40,676,389.86 | | — | | 870,741.72 | | Village at Lakewood | | Phoenix, AZ | | | (O) | 3,166,411.00 | | 13,859,089.81 | | — | | 720,638.80 | | Village Oaks | | Austin, TX | | 4,321,251.51 | | 1,186,000.00 | | 10,663,736.24 | | — | | 1,051,659.11 | | Village of Newport | | Kent, WA | | — | | 416,300.00 | | 3,756,582.21 | | — | | 470,054.98 | | Villas at Josey Ranch | | Carrollton, TX | | 6,500,644.00 | | 1,587,700.00 | | 7,254,727.19 | | — | | 678,946.68 | | Villas of Oak Creste | | San Antonio, TX | | — | | 905,800.00 | | 8,151,737.96 | | — | | 1,351,998.38 | | Viridian Lake | | Fort Myers, FL | | — | | 960,000.00 | | 17,806,757.92 | | — | | 1,272,036.55 | | Vista Del Lago | | Mission Viejo, CA | | 29,114,696.97 | | 4,525,800.00 | | 40,736,293.14 | | — | | 3,554,870.03 | | Vista Del Lago (TX) | | Dallas, TX | | — | | 3,552,000.00 | | 20,108,469.48 | | — | | 123,571.70 | | Vista Grove | | Mesa, AZ | | — | | 1,341,796.00 | | 12,157,045.12 | | — | | 324,585.35 | | Walden Wood | | Southfield, MI | | 5,363,993.34 | | 834,700.00 | | 7,513,690.33 | | — | | 1,842,225.07 | | Warwick Station | | Westminster, CO | | 8,652,999.96 | | 2,282,000.00 | | 20,543,194.91 | | — | | 670,688.10 | | Waterbury (GA) | | Athens, GA | | — | | 147,450.03 | | 1,299,195.48 | | — | | 44,608.09 | | Waterbury (IN) | | Greenwood, IN | | 793,760.74 | | 105,245.15 | | 927,324.45 | | — | | 79,039.40 | | Waterbury (MI) | | Westland, MI | | — | | 331,738.84 | | 2,922,588.70 | | — | | 230,005.72 | | Waterbury (OH) | | Cincinnati, OH | | — | | 193,166.67 | | 1,701,833.85 | | — | | 235,700.54 | | Waterfield Square I | | Stockton, CA | | 6,923,000.00 | | 950,000.00 | | 6,297,992.79 | | — | | 241,256.71 | | Waterfield Square II | | Stockton, CA | | 6,595,000.00 | | 845,000.00 | | 5,811,080.03 | | — | | 205,772.01 | | Waterford (Jax) | | Jacksonville, FL | | — | | 3,550,922.50 | | 23,764,665.75 | | — | | 1,132,274.94 | | Waterford at Deerwood | | Jacksonville, FL | | 10,401,074.84 | | 1,696,000.00 | | 10,659,701.84 | | — | | 716,092.97 | | Waterford at Orange Park | | Orange Park, FL | | 9,540,000.00 | | 1,960,000.00 | | 12,098,784.47 | | — | | 1,232,116.50 | |
Description | | Gross Amount Carried at Close of Period 12/31/02 | | Total(B) | | Accumulated Depreciation | | Date of Construction | | Life Used to Compute Depreciation in Latest Income Statement(C) | | Apartment Name | | Location | Land | | Building & Fixtures(A) | Summerset Village | | Chatsworth, CA | | 2,891,345.68 | | 24,427,252.71 | | 27,318,598.39 | | (5,518,472.01 | ) | 1985 | | 30 Years | | Summerwood | | Hayward, CA | | 4,866,600.00 | | 7,497,475.72 | | 12,364,075.72 | | (1,354,657.83 | ) | 1982 | | 30 Years | | Summit & Birch Hill | | Farmington, CT | | 1,757,437.88 | | 12,033,565.39 | | 13,791,003.27 | | (945,182.33 | ) | 1967 | | 30 Years | | Summit at Lake Union | | Seattle, WA | | 1,424,700.00 | | 13,870,572.32 | | 15,295,272.32 | | (2,908,443.53 | ) | 1995-1997 | | 30 Years | | Summit Center (FL) | | W. Palm Beach, FL | | 670,000.00 | | 2,045,185.00 | | 2,715,185.00 | | (219,752.04 | ) | 1987 | | 30 Years | | Summit Chase | | Coral Springs, FL | | 1,122,100.00 | | 5,025,344.27 | | 6,147,444.27 | | (1,312,313.10 | ) | 1985 | | 30 Years | | Sun Creek | | Glendale, AZ | | 896,929.00 | | 7,465,557.27 | | 8,362,486.27 | | (1,481,739.45 | ) | 1985 | | 30 Years | | Sunny Oak Village | | Overland Park, KS | | 2,247,750.00 | | 23,669,984.96 | | 25,917,734.96 | | (6,976,826.96 | ) | 1984 | | 30 Years | | Sunnyside | | Tifton, GA | | 166,887.10 | | 1,649,724.55 | | 1,816,611.65 | | (222,189.98 | ) | 1984 | | 30 Years | | Sunrise Springs | | Las Vegas, NV | | 975,300.00 | | 9,626,491.85 | | 10,601,791.85 | | (2,982,764.49 | ) | 1989 | | 30 Years | | Sunset Way I | | Miami, FL | | 258,567.91 | | 2,546,819.33 | | 2,805,387.24 | | (332,139.61 | ) | 1987 | | 30 Years | | Sunset Way II | | Miami, FL | | 274,903.14 | | 2,643,210.62 | | 2,918,113.76 | | (334,835.80 | ) | 1988 | | 30 Years | | Suntree | | West Palm Beach, FL | | 469,000.00 | | 1,513,519.18 | | 1,982,519.18 | | (90,766.26 | ) | 1982 | | 30 Years | | Suntree Village | | Oro Valley, AZ | | 1,571,745.00 | | 14,146,583.17 | | 15,718,328.17 | | (3,003,932.83 | ) | 1986 | | 30 Years | | Surrey Downs | | Bellevue, WA | | 3,057,100.00 | | 8,322,321.78 | | 11,379,421.78 | | (1,396,194.23 | ) | 1986 | | 30 Years | | Sutton Place | | Dallas, TX | | 1,358,400.00 | | 15,737,648.19 | | 17,096,048.19 | | (6,150,403.87 | ) | 1985 | | 30 Years | | Sutton Place (FL) | | Lakeland, FL | | 120,887.43 | | 1,247,841.47 | | 1,368,728.90 | | (175,958.22 | ) | 1984 | | 30 Years | | Sweetwater Glen | | Lawrenceville, GA | | 500,000.00 | | 11,064,249.70 | | 11,564,249.70 | | (1,766,935.77 | ) | 1986 | | 30 Years | | Sycamore Creek | | Scottsdale, AZ | | 3,152,000.00 | | 19,980,382.40 | | 23,132,382.40 | | (4,027,239.06 | ) | 1984 | | 30 Years | | Tabor Ridge | | Berea, OH | | 235,940.28 | | 2,367,961.20 | | 2,603,901.48 | | (310,133.44 | ) | 1986 | | 30 Years | | Talleyrand | | Tarrytown, NY(M) | | 12,000,000.00 | | 49,718,643.90 | | 61,718,643.90 | | (2,109,123.59 | ) | 1997-98 | | 30 Years | | Tamarlane | | Portland, ME | | 690,900.00 | | 5,434,244.44 | | 6,125,144.44 | | (1,180,017.37 | ) | 1986 | | 30 Years | | Tanasbourne Terrace | | Hillsboro, OR | | 1,876,700.00 | | 18,779,959.87 | | 20,656,659.87 | | (6,153,641.59 | ) | 1986-89 | | 30 Years | | Tanglewood (RI) | | West Warwick, RI | | 1,141,415.46 | | 7,750,264.47 | | 8,891,679.93 | | (632,415.93 | ) | 1973 | | 30 Years | | Tanglewood (VA) | | Manassas, VA | | 2,108,295.00 | | 22,834,011.85 | | 24,942,306.85 | | (6,784,938.19 | ) | 1987 | | 30 Years | | Terrace Trace | | Tampa, FL | | 193,916.40 | | 1,933,134.96 | | 2,127,051.36 | | (251,012.98 | ) | 1985 | | 30 Years | | Three Chopt West | | Richmond, VA(T) | | 432,956.59 | | 8,620,923.80 | | 9,053,880.39 | | (1,059,743.82 | ) | 1962 | | 30 Years | | Thymewood II | | Miami, FL | | 219,660.95 | | 2,083,067.15 | | 2,302,728.10 | | (250,918.64 | ) | 1986 | | 30 Years | | Tierra Antigua | | Albuquerque, NM | | 1,825,000.00 | | 7,919,754.75 | | 9,744,754.75 | | (511,457.60 | ) | 1985 | | 30 Years | | Timber Hollow | | Chapel Hill, NC | | 800,000.00 | | 12,154,920.16 | | 12,954,920.16 | | (1,896,999.16 | ) | 1986 | | 30 Years | | Timbercreek | | Toledo, OH | | 203,419.77 | | 1,940,412.70 | | 2,143,832.47 | | (241,834.18 | ) | 1987 | | 30 Years | | Timberwalk | | Jacksonville, FL | | 1,988,000.00 | | 13,903,793.39 | | 15,891,793.39 | | (2,262,657.26 | ) | 1987 | | 30 Years | | Timberwood | | Aurora, CO | | 1,518,600.00 | | 15,742,968.63 | | 17,261,568.63 | | (2,890,420.19 | ) | 1983 | | 30 Years | | Timberwood (GA) | | Perry, GA | | 144,299.39 | | 1,347,517.02 | | 1,491,816.41 | | (172,750.84 | ) | 1985 | | 30 Years | | Toscana | | Irvine, CA | | 39,410,000.00 | | 51,978,628.21 | | 91,388,628.21 | | (3,822,464.89 | ) | 1991/1993 | | 30 Years | | Town & Country | | Birmingham, AL(T) | | 147,122.73 | | 2,889,234.98 | | 3,036,357.71 | | (402,084.37 | ) | 1973 | | 30 Years | | Town Center (TX) | | Kingwood, TX | | 1,291,300.00 | | 12,016,513.84 | | 13,307,813.84 | | (2,600,370.11 | ) | 1994 | | 30 Years | | Town Center II (TX) | | Kingwood, TX | | 1,375,000.00 | | 14,262,338.68 | | 15,637,338.68 | | (1,595,449.82 | ) | 1994 | | 30 Years | | Townhomes of Meadowbrook | | Auburn Hills, MI | | 1,382,600.00 | | 14,220,288.30 | | 15,602,888.30 | | (2,630,252.96 | ) | 1988 | | 30 Years | | Townhouse Park | | Richmond, VA(T) | | 384,176.00 | | 10,930,666.64 | | 11,314,842.64 | | (1,498,744.27 | ) | 1966 | | 30 Years | | Trails (CO), The | | Aurora, CO | | 1,217,900.00 | | 11,452,244.00 | | 12,670,144.00 | | (4,367,766.79 | ) | 1986 | | 30 Years | | Trails at Briar Forest | | Houston, TX | | 2,380,000.00 | | 25,852,122.78 | | 28,232,122.78 | | (4,126,225.33 | ) | 1990 | | 30 Years | | Trails at Dominion Park | | Houston, TX | | 2,531,800.00 | | 38,027,987.78 | | 40,559,787.78 | | (8,565,594.07 | ) | 1992 | | 30 Years | | Trailway Pond I | | Burnsville, MN | | 479,284.26 | | 4,651,810.26 | | 5,131,094.52 | | (942,294.15 | ) | 1988 | | 30 Years | | Trailway Pond II | | Burnsville, MN | | 1,107,287.54 | | 10,415,437.56 | | 11,522,725.10 | | (2,014,290.61 | ) | 1988 | | 30 Years | | Trinity Lakes | | Cordova, TN | | 1,982,000.00 | | 15,892,303.35 | | 17,874,303.35 | | (3,284,093.26 | ) | 1985 | | 30 Years | | Turf Club | | Littleton, CO | | 2,107,300.00 | | 16,963,397.29 | | 19,070,697.29 | | (3,267,224.33 | ) | 1986 | | 30 Years | | Turkscap I | | Brandon, FL | | 125,766.44 | | 1,389,529.96 | | 1,515,296.40 | | (208,915.94 | ) | 1977 | | 30 Years | | Turkscap III | | Brandon, FL | | 135,850.08 | | 1,312,923.85 | | 1,448,773.93 | | (172,772.57 | ) | 1982 | | 30 Years | | Twin Gates | | Birmingham, AL(T) | | 273,144.27 | | 5,113,755.16 | | 5,386,899.43 | | (695,167.80 | ) | 1967 | | 30 Years | | Tyrone Gardens | | Randolph, MA | | 4,953,000.00 | | 6,439,855.07 | | 11,392,855.07 | | (1,172,612.20 | ) | 1961/1965 | | 30 Years | | University Square I | | Tampa, FL | | 197,456.54 | | 1,920,079.02 | | 2,117,535.56 | | (236,178.48 | ) | 1979 | | 30 Years | | Valencia Plantation | | Orlando, FL | | 873,000.00 | | 13,042,538.55 | | 13,915,538.55 | | (2,002,025.51 | ) | 1990 | | 30 Years | | Valley Creek I | | Woodbury, MN | | 1,626,715.30 | | 15,692,598.03 | | 17,319,313.33 | | (3,090,107.40 | ) | 1989 | | 30 Years | | Valley Creek II | | Woodbury, MN | | 1,232,659.25 | | 11,582,614.33 | | 12,815,273.58 | | (2,200,494.26 | ) | 1990 | | 30 Years | | Valleybrook | | Newnan, GA | | 254,490.09 | | 2,320,370.42 | | 2,574,860.51 | | (284,281.15 | ) | 1986 | | 30 Years | | Valleyfield (KY) | | Lexington, KY | | 252,328.74 | | 2,471,564.04 | | 2,723,892.78 | | (321,804.81 | ) | 1985 | | 30 Years | | Valleyfield (PA) | | Bridgeville, PA | | 274,316.67 | | 2,632,785.63 | | 2,907,102.30 | | (333,610.61 | ) | 1985 | | 30 Years | | Valleyfield I | | Decatur, GA | | 252,413.03 | | 2,403,171.58 | | 2,655,584.61 | | (299,306.53 | ) | 1984 | | 30 Years | | Valleyfield II | | Decatur, GA | | 258,320.37 | | 2,394,963.20 | | 2,653,283.57 | | (287,737.50 | ) | 1985 | | 30 Years | | Van Deene Manor | | West Springfield, MA | | 744,491.11 | | 5,032,942.68 | | 5,777,433.79 | | (410,253.01 | ) | 1970 | | 30 Years | | Via Ventura | | Scottsdale, AZ | | 1,486,600.00 | | 19,585,786.75 | | 21,072,386.75 | | (7,311,318.19 | ) | 1980 | | 30 Years | | Villa Encanto | | Phoenix, AZ | | 2,884,447.00 | | 23,738,184.43 | | 26,622,631.43 | | (4,839,063.09 | ) | 1983 | | 30 Years | | Villa Solana | | Laguna Hills, CA | | 1,665,100.00 | | 17,012,774.22 | | 18,677,874.22 | | (5,647,159.62 | ) | 1984 | | 30 Years | | Village at Bear Creek | | Lakewood, CO | | 4,519,700.00 | | 41,547,131.58 | | 46,066,831.58 | | (8,302,429.03 | ) | 1987 | | 30 Years | | Village at Lakewood | | Phoenix, AZ | | 3,166,411.00 | | 14,579,728.61 | | 17,746,139.61 | | (2,960,571.50 | ) | 1988 | | 30 Years | | Village Oaks | | Austin, TX | | 1,186,000.00 | | 11,715,395.35 | | 12,901,395.35 | | (2,961,827.60 | ) | 1984 | | 30 Years | | Village of Newport | | Kent, WA | | 416,300.00 | | 4,226,637.19 | | 4,642,937.19 | | (1,394,466.28 | ) | 1987 | | 30 Years | | Villas at Josey Ranch | | Carrollton, TX | | 1,587,700.00 | | 7,933,673.87 | | 9,521,373.87 | | (1,473,490.99 | ) | 1986 | | 30 Years | | Villas of Oak Creste | | San Antonio, TX | | 905,800.00 | | 9,503,736.34 | | 10,409,536.34 | | (2,301,123.50 | ) | 1979 | | 30 Years | | Viridian Lake | | Fort Myers, FL | | 960,000.00 | | 19,078,794.47 | | 20,038,794.47 | | (3,079,753.25 | ) | 1991 | | 30 Years | | Vista Del Lago | | Mission Viejo, CA | | 4,525,800.00 | | 44,291,163.17 | | 48,816,963.17 | | (14,338,037.47 | ) | 1986-88 | | 30 Years | | Vista Del Lago (TX) | | Dallas, TX | | 3,552,000.00 | | 20,232,041.18 | | 23,784,041.18 | | (1,036,543.53 | ) | 1992 | | 30 Years | | Vista Grove | | Mesa, AZ | | 1,341,796.00 | | 12,481,630.47 | | 13,823,426.47 | | (2,189,357.61 | ) | 1997-1998 | | 30 Years | | Walden Wood | | Southfield, MI | | 834,700.00 | | 9,355,915.40 | | 10,190,615.40 | | (3,507,219.60 | ) | 1972 | | 30 Years | | Warwick Station | | Westminster, CO | | 2,282,000.00 | | 21,213,883.01 | | 23,495,883.01 | | (4,350,128.09 | ) | 1986 | | 30 Years | | Waterbury (GA) | | Athens, GA | | 147,450.03 | | 1,343,803.57 | | 1,491,253.60 | | (166,161.52 | ) | 1985 | | 30 Years | | Waterbury (IN) | | Greenwood, IN | | 105,245.15 | | 1,006,363.85 | | 1,111,609.00 | | (134,632.62 | ) | 1984 | | 30 Years | | Waterbury (MI) | | Westland, MI | | 331,738.84 | | 3,152,594.42 | | 3,484,333.26 | | (403,367.68 | ) | 1985 | | 30 Years | | Waterbury (OH) | | Cincinnati, OH | | 193,166.67 | | 1,937,534.39 | | 2,130,701.06 | | (262,410.48 | ) | 1985 | | 30 Years | | Waterfield Square I | | Stockton, CA | | 950,000.00 | | 6,539,249.50 | | 7,489,249.50 | | (442,187.95 | ) | 1984 | | 30 Years | | Waterfield Square II | | Stockton, CA | | 845,000.00 | | 6,016,852.04 | | 6,861,852.04 | | (405,021.27 | ) | 1984 | | 30 Years | | Waterford (Jax) | | Jacksonville, FL | | 3,550,922.50 | | 24,896,940.69 | | 28,447,863.19 | | (4,124,019.49 | ) | 1988 | | 30 Years | | Waterford at Deerwood | | Jacksonville, FL | | 1,696,000.00 | | 11,375,794.81 | | 13,071,794.81 | | (1,981,888.53 | ) | 1985 | | 30 Years | | Waterford at Orange Park | | Orange Park, FL | | 1,960,000.00 | | 13,330,900.97 | | 15,290,900.97 | | (2,605,889.90 | ) | 1986 | | 30 Years | |
S - 11
Description | | | | Initial Cost to Company | | Cost Capitalized Subsequent to Acquisition (Improvements, net)(E) | | Apartment Name | | Location | | Encumbrances | | Land | | Building & Fixtures | | Land | | Building & Fixtures | | Waterford at Regency | | Jacksonville, FL | | 6,999,147.59 | | 1,113,000.00 | | 5,184,161.74 | | — | | 312,055.03 | | Waterford at the Lakes | | Kent, WA | | — | | 3,100,200.00 | | 16,140,923.73 | | — | | 1,087,707.29 | | Waterford Village (Broward) | | Delray Beach, FL | | — | | 1,888,000.00 | | 15,358,635.40 | | — | | 1,824,388.83 | | Watermark Square | | Portland, OR | | 7,182,206.70 | | 1,580,500.00 | | 14,194,258.85 | | — | | 1,598,385.28 | | Waterstone Place | | Federal Way, WA | | — | | 2,964,000.00 | | 26,674,598.90 | | — | | 4,112,969.22 | | Webster Green | | Needham, MA | | 6,333,018.77 | | 1,418,892.54 | | 9,485,006.17 | | — | | 167,290.05 | | Welleby Lake Club | | Sunrise, FL | | — | | 3,648,000.00 | | 17,620,879.42 | | — | | 560,234.44 | | Wellington Hill | | Manchester, NH | | | (M) | 1,890,200.00 | | 17,120,661.97 | | — | | 2,695,797.35 | | Wellsford Oaks | | Tulsa, OK | | — | | 1,310,500.00 | | 11,794,289.56 | | — | | 721,935.36 | | Wentworth | | Roseville, MI | | — | | 217,502.26 | | 1,916,231.96 | | — | | 181,498.42 | | West Of Eastland | | Columbus, OH | | 1,940,090.31 | | 234,543.74 | | 2,066,674.99 | | — | | 231,463.20 | | Westbrook Village | | Manchester, MO | | — | | 2,310,000.00 | | 10,606,342.76 | | — | | 572,750.10 | | Westridge | | Tacoma, WA | | — | | 3,501,900.00 | | 31,506,082.24 | | — | | 2,290,730.64 | | Westside Villas I | | Los Angeles, CA | | — | | 1,785,000.00 | | 3,233,254.01 | | — | | 62,387.36 | | Westside Villas II | | Los Angeles, CA | | — | | 1,955,000.00 | | 3,541,434.71 | | — | | 11,214.24 | | Westside Villas III | | Los Angeles, CA | | — | | 3,060,000.00 | | 5,538,870.92 | | — | | 25,724.71 | | Westside Villas IV | | Los Angeles, CA | | — | | 3,060,000.00 | | 5,539,390.29 | | — | | 11,124.23 | | Westside Villas V | | Los Angeles, CA | | — | | 5,100,000.00 | | 9,224,485.21 | | — | | 29,547.04 | | Westside Villas VI | | Los Angeles, CA | | — | | 1,530,000.00 | | 3,024,001.16 | | — | | 35,088.18 | | Westside Villas VII | | Los Angeles, CA | | — | | 4,505,000.00 | | 10,758,899.55 | | — | | 5,512.84 | | Westway | | Brunswick, GA | | — | | 168,322.68 | | 1,483,106.21 | | — | | 171,425.63 | | Westwood Glen | | Westwood, MA | | 1,453,407.12 | | 1,616,504.78 | | 10,806,003.53 | | — | | 195,401.73 | | Westwood Pines | | Tamarac, FL | | — | | 1,528,600.00 | | 13,739,616.00 | | — | | 835,896.12 | | Westwynd Apts | | West Hartford, CT | | — | | 308,543.13 | | 2,062,547.68 | | — | | 142,143.79 | | Whispering Oaks | | Walnut Creek, CA | | 10,200,302.55 | | 2,170,800.00 | | 19,539,586.15 | | — | | 1,889,642.43 | | Whispering Pines | | Fr. Pierce, FL | | — | | 384,000.00 | | 621,367.08 | | — | | 209,070.54 | | Whispering Pines II | | Fr. Pierce, FL | | — | | 105,171.51 | | 926,475.58 | | — | | 129,976.50 | | Whisperwood | | Cordele, GA | | — | | 84,240.30 | | 742,373.88 | | — | | 157,032.54 | | White Bear Woods | | White Bear Lake, MN | | 14,172,876.00 | | 1,624,740.73 | | 14,618,489.69 | | — | | 721,229.92 | | Wilcrest Woods | | Savannah, GA | | 1,287,966.40 | | 187,306.36 | | 1,650,373.13 | | — | | 118,940.13 | | Wilde Lake | | Richmond, VA | | 4,440,000.00 | | 947,200.00 | | 8,594,105.46 | | — | | 778,935.68 | | Wilkins Glen | | Medfield, MA | | 1,744,067.32 | | 538,482.64 | | 3,599,646.22 | | — | | 187,412.19 | | Willow Brook (CA) | | Pleasant Hill, CA | | 29,000,000.00 | | 5,055,000.00 | | 19,212,153.24 | | — | | 217,120.44 | | Willow Creek | | Fresno, CA | | 5,112,000.00 | | 275,000.00 | | 5,045,091.01 | | — | | 97,591.55 | | Willow Creek I (GA) | | Griffin, GA | | — | | 145,768.69 | | 1,298,973.46 | | — | | 55,807.12 | | Willow Lakes | | Spartanburg, SC | | 1,984,790.93 | | 200,989.58 | | 1,770,937.26 | | — | | 94,849.91 | | Willow Run (GA) | | Stone Mountain, GA | | 1,665,556.36 | | 197,964.94 | | 1,744,286.82 | | — | | 185,445.06 | | Willow Run (IN) | | New Albany, IN | | 1,088,963.79 | | 183,872.68 | | 1,620,118.73 | | — | | 133,087.25 | | Willow Run (KY) | | Madisonville, KY | | 1,086,195.98 | | 141,015.67 | | 1,242,351.72 | | — | | 117,752.25 | | Willow Trail | | Norcross, GA | | — | | 1,120,000.00 | | 11,412,981.59 | | — | | 535,701.31 | | Willowick | | Aurora, CO | | — | | 506,900.00 | | 4,157,878.35 | | — | | 342,651.24 | | Will-O-Wisp | | Kinston, NC(T) | | 3,450,046.27 | | 197,397.72 | | 3,926,972.16 | | — | | 296,627.75 | | Willowood East II | | Indianapolis, IN | | — | | 104,917.75 | | 924,589.72 | | — | | 134,638.23 | | Willowood I (Gro) | | Grove City, OH | | 911,954.17 | | 126,045.04 | | 1,110,558.13 | | — | | 132,535.38 | | Willowood I (IN) | | Columbus, OH | | 1,106,641.22 | | 163,896.17 | | 1,444,103.85 | | — | | 89,433.11 | | Willowood I (KY) | | Frankfort, KY | | 976,654.01 | | 138,822.38 | | 1,223,176.43 | | — | | 150,783.87 | | Willowood I (Woo) | | Wooster, OH | | — | | 117,254.13 | | 1,033,136.63 | | — | | 68,842.24 | | Willowood II (Gro) | | Grove City, OH | | 531,579.19 | | 70,923.51 | | 624,814.43 | | — | | 75,010.15 | | Willowood II (IN) | | Columbus, OH | | 1,114,908.85 | | 161,306.27 | | 1,421,284.06 | | — | | 77,807.90 | | Willowood II (KY) | | Frankfort, KY | | — | | 120,375.49 | | 1,060,639.21 | | — | | 80,704.66 | | Willowood II (Tro) | | Trotwood, OH | | — | | 142,623.37 | | 1,256,667.34 | | — | | 131,079.86 | | Willowood II (Woo) | | Wooster, OH | | 836,318.93 | | 103,199.14 | | 909,397.90 | | — | | 120,525.77 | | Willows I (OH), The | | Columbus, OH | | — | | 76,283.41 | | 672,339.99 | | — | | 87,091.05 | | Willows II (OH), The | | Columbus, OH | | — | | 96,678.71 | | 851,844.82 | | — | | 66,545.51 | | Willows III (OH), The | | Columbus, OH | | 839,800.00 | | 129,221.40 | | 1,137,783.40 | | — | | 85,907.12 | | Wimberly | | Dallas, TX | | — | | 2,232,000.00 | | 27,685,923.27 | | — | | 564,237.80 | | Wimbledon Oaks | | Arlington, TX | | 7,162,582.77 | | 1,491,700.00 | | 8,843,716.03 | | — | | 737,942.60 | | Winchester Park | | Riverside, RI | | — | | 2,822,618.35 | | 18,868,625.90 | | — | | 1,351,437.26 | | Winchester Wood | | Riverside, RI | | 2,205,735.09 | | 683,215.23 | | 4,567,153.97 | | — | | 73,184.74 | | Windemere | | Mesa, AZ | | — | | 949,300.00 | | 8,659,280.22 | | — | | 1,092,867.24 | | Windmont | | Atlanta, GA | | — | | 3,204,000.00 | | 7,128,448.37 | | — | | 308,063.50 | | Windridge (CA) | | Laguna Niguel, CA | | | (I) | 2,662,900.00 | | 23,985,496.57 | | — | | 1,431,832.79 | | Windwood I (FL) | | Palm Bay, FL | | — | | 113,912.73 | | 1,003,498.28 | | — | | 195,527.36 | | Windwood II (FL) | | Palm Bay, FL | | 190,000.00 | | 118,915.07 | | 1,047,598.32 | | — | | 279,970.05 | | Wingwood (Orl) | | Orlando, FL | | 1,420,266.64 | | 236,884.32 | | 2,086,401.61 | | — | | 374,722.41 | | Winter Woods I (FL) | | Winter Garden, FL | | — | | 144,921.36 | | 1,276,965.11 | | — | | 144,020.03 | | Winterwood | | Charlotte, NC | | 11,033,752.73 | | 1,722,000.00 | | 15,501,141.60 | | — | | 2,486,535.76 | | Winthrop Court (KY) | | Frankfort, KY | | 1,421,290.56 | | 184,709.36 | | 1,627,190.80 | | — | | 188,334.88 | | Winthrop Court II (OH) | | Columbus, OH | | 722,000.00 | | 102,381.09 | | 896,576.06 | | — | | 85,114.58 | | Wood Creek (CA) | | Pleasant Hill, CA | | — | | 9,729,900.00 | | 23,009,768.39 | | — | | 828,634.09 | | Wood Forest | | Daytona Beach, FL | | 6,059,189.80 | | 1,008,000.00 | | 4,950,210.29 | | — | | 128,966.49 | | Wood Lane Place | | Woodbury, MN | | 14,000,000.00 | | 2,009,146.73 | | 18,090,498.11 | | — | | 1,749,377.66 | | Woodbine (Cuy) | | Cuyahoga Falls, OH | | — | | 185,868.12 | | 1,637,700.68 | | — | | 103,476.98 | | Woodbine (Por) | | Portsmouth, OH | | 613,360.43 | | 78,097.85 | | 688,127.14 | | — | | 85,631.95 | | Woodbridge | | Cary, GA | | 4,495,249.95 | | 737,400.00 | | 6,636,869.85 | | — | | 463,986.25 | | Woodbridge (CT) | | Newington, CT | | | (P) | 498,376.96 | | 3,331,547.98 | | — | | 55,064.91 | | Woodbridge II | | Cary, GA | | — | | 1,244,600.00 | | 11,243,364.10 | | — | | 450,830.23 | | Woodcliff I | | Lilburn, GA | | — | | 276,659.02 | | 2,437,667.42 | | — | | 212,690.65 | | Woodcliff II | | Lilburn, GA | | 1,619,272.19 | | 266,449.39 | | 2,347,769.47 | | — | | 131,631.11 | | Woodcreek | | Beaverton, OR | | 9,747,030.16 | | 1,755,800.00 | | 15,816,454.87 | | — | | 2,604,671.54 | | Woodcrest I | | Warner Robins, GA | | — | | 115,738.70 | | 1,028,353.02 | | — | | 103,821.11 | | Woodlake (WA) | | Kirkland, WA | | | (R) | 6,631,400.00 | | 16,735,484.40 | | — | | 824,004.80 | | Woodland Hills | | Decatur, GA | | — | | 1,224,600.00 | | 11,010,680.74 | | — | | 1,376,441.60 | | Woodland I (FL) | | Orlando, FL | | 3,340,760.44 | | 461,948.64 | | 4,070,817.98 | | — | | 346,984.45 | | Woodland Meadows | | Ann Arbor, MI | | | (S) | 2,006,000.00 | | 18,049,551.84 | | — | | 969,732.17 | |
Description | | Gross Amount Carried at Close of Period 12/31/02 | | Total (B) | | Accumulated Depreciation | | Date of Construction | | Life Used to Compute Depreciation in Latest Income Statement (C) | | Apartment Name | | Location | Land | | Building & Fixtures (A) | Waterford at Regency | | Jacksonville, FL | | 1,113,000.00 | | 5,496,216.77 | | 6,609,216.77 | | (979,099.81 | ) | 1985 | | 30 Years | | Waterford at the Lakes | | Kent, WA | | 3,100,200.00 | | 17,228,631.02 | | 20,328,831.02 | | (3,810,206.84 | ) | 1990 | | 30 Years | | Waterford Village (Broward) | | Delray Beach, FL | | 1,888,000.00 | | 17,183,024.23 | | 19,071,024.23 | | (3,102,013.75 | ) | 1989 | | 30 Years | | Watermark Square | | Portland, OR | | 1,580,500.00 | | 15,792,644.13 | | 17,373,144.13 | | (3,822,953.67 | ) | 1990 | | 30 Years | | Waterstone Place | | Federal Way, WA | | 2,964,000.00 | | 30,787,568.12 | | 33,751,568.12 | | (10,995,552.11 | ) | 1990 | | 30 Years | | Webster Green | | Needham, MA | | 1,418,892.54 | | 9,652,296.22 | | 11,071,188.76 | | (739,929.16 | ) | 1985 | | 30 Years | | Welleby Lake Club | | Sunrise, FL | | 3,648,000.00 | | 18,181,113.86 | | 21,829,113.86 | | (2,906,308.44 | ) | 1991 | | 30 Years | | Wellington Hill | | Manchester, NH | | 1,890,200.00 | | 19,816,459.32 | | 21,706,659.32 | | (6,696,316.10 | ) | 1987 | | 30 Years | | Wellsford Oaks | | Tulsa, OK | | 1,310,500.00 | | 12,516,224.92 | | 13,826,724.92 | | (2,681,391.33 | ) | 1991 | | 30 Years | | Wentworth | | Roseville, MI | | 217,502.26 | | 2,097,730.38 | | 2,315,232.64 | | (267,081.77 | ) | 1985 | | 30 Years | | West Of Eastland | | Columbus, OH | | 234,543.74 | | 2,298,138.19 | | 2,532,681.93 | | (312,591.75 | ) | 1977 | | 30 Years | | Westbrook Village | | Manchester, MO | | 2,310,000.00 | | 11,179,092.86 | | 13,489,092.86 | | (1,615,270.26 | ) | 1984 | | 30 Years | | Westridge | | Tacoma, WA | | 3,501,900.00 | | 33,796,812.88 | | 37,298,712.88 | | (7,326,024.37 | ) | 1987/1991 | | 30 Years | | Westside Villas I | | Los Angeles, CA | | 1,785,000.00 | | 3,295,641.37 | | 5,080,641.37 | | (262,844.99 | ) | 1999 | | 30 Years | | Westside Villas II | | Los Angeles, CA | | 1,955,000.00 | | 3,552,648.95 | | 5,507,648.95 | | (283,678.21 | ) | 1999 | | 30 Years | | Westside Villas III | | Los Angeles, CA | | 3,060,000.00 | | 5,564,595.63 | | 8,624,595.63 | | (446,370.73 | ) | 1999 | | 30 Years | | Westside Villas IV | | Los Angeles, CA | | 3,060,000.00 | | 5,550,514.52 | | 8,610,514.52 | | (441,558.27 | ) | 1999 | | 30 Years | | Westside Villas V | | Los Angeles, CA | | 5,100,000.00 | | 9,254,032.25 | | 14,354,032.25 | | (736,825.97 | ) | 1999 | | 30 Years | | Westside Villas VI | | Los Angeles, CA | | 1,530,000.00 | | 3,059,089.34 | | 4,589,089.34 | | (210,876.27 | ) | 1989 | | 30 Years | | Westside Villas VII | | Los Angeles, CA | | 4,505,000.00 | | 10,764,412.39 | | 15,269,412.39 | | (192,884.47 | ) | 2001 | | 30 Years | | Westway | | Brunswick, GA | | 168,322.68 | | 1,654,531.84 | | 1,822,854.52 | | (218,268.35 | ) | 1984 | | 30 Years | | Westwood Glen | | Westwood, MA | | 1,616,504.78 | | 11,001,405.26 | | 12,617,910.04 | | (864,477.84 | ) | 1972 | | 30 Years | | Westwood Pines | | Tamarac, FL | | 1,528,600.00 | | 14,575,512.12 | | 16,104,112.12 | | (2,827,564.41 | ) | 1991 | | 30 Years | | Westwynd Apts | | West Hartford, CT | | 308,543.13 | | 2,204,691.47 | | 2,513,234.60 | | (178,366.15 | ) | 1969 | | 30 Years | | Whispering Oaks | | Walnut Creek, CA | | 2,170,800.00 | | 21,429,228.58 | | 23,600,028.58 | | (5,243,375.85 | ) | 1974 | | 30 Years | | Whispering Pines | | Fr. Pierce, FL | | 384,000.00 | | 830,437.62 | | 1,214,437.62 | | (97,813.57 | ) | 1986 | | 30 Years | | Whispering Pines II | | Fr. Pierce, FL | | 105,171.51 | | 1,056,452.08 | | 1,161,623.59 | | (139,942.31 | ) | 1986 | | 30 Years | | Whisperwood | | Cordele, GA | | 84,240.30 | | 899,406.42 | | 983,646.72 | | (121,699.65 | ) | 1985 | | 30 Years | | White Bear Woods | | White Bear Lake, MN | | 1,624,740.73 | | 15,339,719.61 | | 16,964,460.34 | | (2,930,803.82 | ) | 1989 | | 30 Years | | Wilcrest Woods | | Savannah, GA | | 187,306.36 | | 1,769,313.26 | | 1,956,619.62 | | (223,504.29 | ) | 1986 | | 30 Years | | Wilde Lake | | Richmond, VA | | 947,200.00 | | 9,373,041.14 | | 10,320,241.14 | | (2,247,685.74 | ) | 1989 | | 30 Years | | Wilkins Glen | | Medfield, MA | | 538,482.64 | | 3,787,058.41 | | 4,325,541.05 | | (313,549.77 | ) | 1975 | | 30 Years | | Willow Brook (CA) | | Pleasant Hill, CA | | 5,055,000.00 | | 19,429,273.68 | | 24,484,273.68 | | (1,110,973.78 | ) | 1985 | | 30 Years | | Willow Creek | | Fresno, CA | | 275,000.00 | | 5,142,682.56 | | 5,417,682.56 | | (341,009.18 | ) | 1984 | | 30 Years | | Willow Creek I (GA) | | Griffin, GA | | 145,768.69 | | 1,354,780.58 | | 1,500,549.27 | | (166,275.00 | ) | 1985 | | 30 Years | | Willow Lakes | | Spartanburg, SC | | 200,989.58 | | 1,865,787.17 | | 2,066,776.75 | | (248,453.85 | ) | 1986 | | 30 Years | | Willow Run (GA) | | Stone Mountain, GA | | 197,964.94 | | 1,929,731.88 | | 2,127,696.82 | | (263,583.57 | ) | 1983 | | 30 Years | | Willow Run (IN) | | New Albany, IN | | 183,872.68 | | 1,753,205.98 | | 1,937,078.66 | | (225,322.17 | ) | 1984 | | 30 Years | | Willow Run (KY) | | Madisonville, KY | | 141,015.67 | | 1,360,103.97 | | 1,501,119.64 | | (180,627.37 | ) | 1984 | | 30 Years | | Willow Trail | | Norcross, GA | | 1,120,000.00 | | 11,948,682.90 | | 13,068,682.90 | | (1,904,100.77 | ) | 1985 | | 30 Years | | Willowick | | Aurora, CO | | 506,900.00 | | 4,500,529.59 | | 5,007,429.59 | | (843,642.46 | ) | 1980 | | 30 Years | | Will-O-Wisp | | Kinston, NC(T) | | 197,397.72 | | 4,223,599.91 | | 4,420,997.63 | | (557,884.68 | ) | 1970 | | 30 Years | | Willowood East II | | Indianapolis, IN | | 104,917.75 | | 1,059,227.95 | | 1,164,145.70 | | (160,659.72 | ) | 1985 | | 30 Years | | Willowood I (Gro) | | Grove City, OH | | 126,045.04 | | 1,243,093.51 | | 1,369,138.55 | | (154,144.96 | ) | 1984 | | 30 Years | | Willowood I (IN) | | Columbus, OH | | 163,896.17 | | 1,533,536.96 | | 1,697,433.13 | | (192,839.91 | ) | 1983 | | 30 Years | | Willowood I (KY) | | Frankfort, KY | | 138,822.38 | | 1,373,960.30 | | 1,512,782.68 | | (170,913.06 | ) | 1984 | | 30 Years | | Willowood I (Woo) | | Wooster, OH | | 117,254.13 | | 1,101,978.87 | | 1,219,233.00 | | (143,921.91 | ) | 1984 | | 30 Years | | Willowood II (Gro) | | Grove City, OH | | 70,923.51 | | 699,824.58 | | 770,748.09 | | (88,843.47 | ) | 1985 | | 30 Years | | Willowood II (IN) | | Columbus, OH | | 161,306.27 | | 1,499,091.96 | | 1,660,398.23 | | (192,160.44 | ) | 1986 | | 30 Years | | Willowood II (KY) | | Frankfort, KY | | 120,375.49 | | 1,141,343.87 | | 1,261,719.36 | | (139,860.08 | ) | 1985 | | 30 Years | | Willowood II (Tro) | | Trotwood, OH | | 142,623.37 | | 1,387,747.20 | | 1,530,370.57 | | (178,038.45 | ) | 1987 | | 30 Years | | Willowood II (Woo) | | Wooster, OH | | 103,199.14 | | 1,029,923.67 | | 1,133,122.81 | | (144,817.82 | ) | 1986 | | 30 Years | | Willows I (OH), The | | Columbus, OH | | 76,283.41 | | 759,431.04 | | 835,714.45 | | (105,290.89 | ) | 1987 | | 30 Years | | Willows II (OH), The | | Columbus, OH | | 96,678.71 | | 918,390.33 | | 1,015,069.04 | | (118,272.20 | ) | 1981 | | 30 Years | | Willows III (OH), The | | Columbus, OH | | 129,221.40 | | 1,223,690.52 | | 1,352,911.92 | | (154,483.10 | ) | 1987 | | 30 Years | | Wimberly | | Dallas, TX | | 2,232,000.00 | | 28,250,161.07 | | 30,482,161.07 | | (4,298,403.89 | ) | 1996 | | 30 Years | | Wimbledon Oaks | | Arlington, TX | | 1,491,700.00 | | 9,581,658.63 | | 11,073,358.63 | | (1,768,332.77 | ) | 1985 | | 30 Years | | Winchester Park | | Riverside, RI | | 2,822,618.35 | | 20,220,063.16 | | 23,042,681.51 | | (1,782,062.00 | ) | 1972 | | 30 Years | | Winchester Wood | | Riverside, RI | | 683,215.23 | | 4,640,338.71 | | 5,323,553.94 | | (363,515.35 | ) | 1989 | | 30 Years | | Windemere | | Mesa, AZ | | 949,300.00 | | 9,752,147.46 | | 10,701,447.46 | | (2,337,226.81 | ) | 1986 | | 30 Years | | Windmont | | Atlanta, GA | | 3,204,000.00 | | 7,436,511.87 | | 10,640,511.87 | | (843,324.42 | ) | 1988 | | 30 Years | | Windridge (CA) | | Laguna Niguel, CA | | 2,662,900.00 | | 25,417,329.36 | | 28,080,229.36 | | (7,634,059.54 | ) | 1989 | | 30 Years | | Windwood I (FL) | | Palm Bay, FL | | 113,912.73 | | 1,199,025.64 | | 1,312,938.37 | | (173,456.73 | ) | 1988 | | 30 Years | | Windwood II (FL) | | Palm Bay, FL | | 118,915.07 | | 1,327,568.37 | | 1,446,483.44 | | (195,072.39 | ) | 1987 | | 30 Years | | Wingwood (Orl) | | Orlando, FL | | 236,884.32 | | 2,461,124.02 | | 2,698,008.34 | | (325,588.27 | ) | 1980 | | 30 Years | | Winter Woods I (FL) | | Winter Garden, FL | | 144,921.36 | | 1,420,985.14 | | 1,565,906.50 | | (193,712.74 | ) | 1985 | | 30 Years | | Winterwood | | Charlotte, NC | | 1,722,000.00 | | 17,987,677.36 | | 19,709,677.36 | | (6,336,438.77 | ) | 1986 | | 30 Years | | Winthrop Court (KY) | | Frankfort, KY | | 184,709.36 | | 1,815,525.68 | | 2,000,235.04 | | (234,158.13 | ) | 1985 | | 30 Years | | Winthrop Court II (OH) | | Columbus, OH | | 102,381.09 | | 981,690.64 | | 1,084,071.73 | | (123,726.16 | ) | 1986 | | 30 Years | | Wood Creek (CA) | | Pleasant Hill, CA | | 9,729,900.00 | | 23,838,402.48 | | 33,568,302.48 | | (4,819,334.79 | ) | 1987 | | 30 Years | | Wood Forest | | Daytona Beach, FL | | 1,008,000.00 | | 5,079,176.78 | | 6,087,176.78 | | (844,453.14 | ) | 1985 | | 30 Years | | Wood Lane Place | | Woodbury, MN | | 2,009,146.73 | | 19,839,875.77 | | 21,849,022.50 | | (3,838,195.33 | ) | 1989 | | 30 Years | | Woodbine (Cuy) | | Cuyahoga Falls, OH | | 185,868.12 | | 1,741,177.66 | | 1,927,045.78 | | (208,336.40 | ) | 1982 | | 30 Years | | Woodbine (Por) | | Portsmouth, OH | | 78,097.85 | | 773,759.09 | | 851,856.94 | | (108,020.62 | ) | 1981 | | 30 Years | | Woodbridge | | Cary, GA | | 737,400.00 | | 7,100,856.10 | | 7,838,256.10 | | (1,899,432.56 | ) | 1993-95 | | 30 Years | | Woodbridge (CT) | | Newington, CT | | 498,376.96 | | 3,386,612.89 | | 3,884,989.85 | | (275,369.63 | ) | 1968 | | 30 Years | | Woodbridge II | | Cary, GA | | 1,244,600.00 | | 11,694,194.33 | | 12,938,794.33 | | (2,917,709.01 | ) | 1993-95 | | 30 Years | | Woodcliff I | | Lilburn, GA | | 276,659.02 | | 2,650,358.07 | | 2,927,017.09 | | (325,229.41 | ) | 1984 | | 30 Years | | Woodcliff II | | Liburn, GA | | 266,449.39 | | 2,479,400.58 | | 2,745,849.97 | | (296,525.59 | ) | 1986 | | 30 Years | | Woodcreek | | Beaverton, OR | | 1,755,800.00 | | 18,421,126.41 | | 20,176,926.41 | | (6,493,660.71 | ) | 1982-84 | | 30 Years | | Woodcrest I | | Warner Robins, GA | | 115,738.70 | | 1,132,174.13 | | 1,247,912.83 | | (137,055.50 | ) | 1984 | | 30 Years | | Woodlake (WA) | | Kirkland, WA | | 6,631,400.00 | | 17,559,489.20 | | 24,190,889.20 | | (3,042,530.97 | ) | 1984 | | 30 Years | | Woodland Hills | | Decatur, GA | | 1,224,600.00 | | 12,387,122.34 | | 13,611,722.34 | | (3,230,464.53 | ) | 1985 | | 30 Years | | Woodland I (FL) | | Orlando, FL | | 461,948.64 | | 4,417,802.43 | | 4,879,751.07 | | (575,012.21 | ) | 1984/85 | | 30 Years | | Woodland Meadows | | Ann Arbor, MI | | 2,006,000.00 | | 19,019,284.01 | | 21,025,284.01 | | (3,820,616.95 | ) | 1987-1989 | | 30 Years | |
S - 12
Description | | | | Initial Cost to Company | | Cost Capitalized Subsequent to Acquisition (Improvements, net) (E) | | Apartment Name | | Location | | Encumbrances | | Land | | Building & Fixtures | | Land | | Building & Fixtures | | Woodlands I (Col) | | Columbus, OH | | 1,721,062.20 | | 231,995.55 | | 2,044,232.64 | | — | | 176,875.29 | | Woodlands I (PA) | | Zelienople, PA | | 1,001,822.38 | | 163,191.69 | | 1,437,896.61 | | — | | 122,874.96 | | Woodlands I (Str) | | Streetsboro, OH | | 246,222.00 | | 197,377.57 | | 1,739,111.51 | | — | | 184,675.93 | | Woodlands II (Col) | | Columbus, OH | | 1,492,354.94 | | 192,633.43 | | 1,697,310.42 | | — | | 160,277.51 | | Woodlands II (PA) | | Zelienople, PA | | — | | 192,972.36 | | 1,700,296.78 | | — | | 104,681.00 | | Woodlands II (Str) | | Streetsboro, OH | | 1,529,793.55 | | 183,996.01 | | 1,621,205.38 | | — | | 173,027.92 | | Woodlands III (Col) | | Columbus, OH | | — | | 230,536.02 | | 2,031,248.57 | | — | | 295,627.72 | | Woodlands of Brookfield | | Brookfield, WI | | | (N) | 1,484,600.00 | | 13,961,080.72 | | — | | 700,020.83 | | Woodlands of Minnetonka | | Minnetonka, MN | | — | | 2,394,500.00 | | 13,543,076.29 | | — | | 809,486.25 | | Woodleaf | | Campbell, CA | | | (R) | 8,550,600.00 | | 16,988,182.50 | | — | | 524,617.39 | | Woodmoor | | Austin, TX | | — | | 653,800.00 | | 5,875,968.39 | | — | | 1,716,833.62 | | Woodridge (MN) | | Eagan, MN | | 7,467,450.05 | | 1,602,300.00 | | 10,449,579.23 | | — | | 772,994.24 | | Woodridge (CO) | | Aurora, CO | | — | | 2,780,700.00 | | 7,576,972.13 | | — | | 814,685.95 | | Woodridge II (CO) | | Aurora, CO | | — | | — | | 4,148,517.08 | | — | | 421,410.74 | | Woodridge III (CO) | | Aurora, CO | | — | | — | | 9,130,763.69 | | — | | 929,421.81 | | Woods of Elm Creek | | San Antonio, TX | | — | | 590,000.00 | | 5,310,327.86 | | — | | 607,599.80 | | Woods of North Bend | | Raleigh, NC | | | (S) | 1,039,500.00 | | 9,305,318.81 | | — | | 1,536,919.64 | | Woodscape | | Raleigh, NC | | — | | 957,300.00 | | 8,607,939.89 | | — | | 703,617.95 | | Woodside | | Lorton, VA | | — | | 1,326,000.00 | | 12,510,902.78 | | — | | 810,270.76 | | Woodtrail | | Newnan, GA | | — | | 250,894.94 | | 2,210,657.86 | | — | | 174,907.49 | | Woodvalley | | Anniston, AL | | 1,363,931.24 | | 190,188.16 | | 1,675,764.93 | | — | | 86,234.97 | | Wyndridge 2 | | Memphis, TN | | 14,135,000.00 | | 1,488,000.00 | | 13,607,636.08 | | — | | 1,252,783.82 | | Wyndridge 3 | | Memphis, TN | | 10,855,000.00 | | 1,502,500.00 | | 13,531,740.55 | | — | | 850,679.31 | | Yarmouth Woods | | Yarmouth, ME | | — | | 692,800.00 | | 6,096,155.42 | | — | | 355,803.24 | | Yorktowne at Olde Mill | | Millersville, MD | | — | | 216,000.00 | | 2,674,121.00 | | — | | 4,204,000.95 | | Management Business | | Chicago, IL | | — | | — | | — | | — | | 58,845,558.62 | | Operating Partnership | | Chicago, IL(H) | | 43,792.00 | | — | | — | | — | | — | | Total Investment in Real Estate | | | | $ | 2,046,995,578.53 | | $ | 1,803,577,007.59 | | $ | 10,456,109,229.10 | | $ | — | | $ | 786,577,064.52 | | | | | | | | | | | | | | | | | | | | |
Description | | Gross Amount Carried at Close of Period 12/31/02 | | Total (B) | | Accumulated Depreciation | | Date of Construction | | Life Used to Compute Depreciation in Latest Income Statement (C) | | Apartment Name | | Location | Land | | Building & Fixtures (A) | Woodlands I (Col) | | Columbus, OH | | 231,995.55 | | 2,221,107.93 | | 2,453,103.48 | | (288,275.93 | ) | 1983 | | 30 Years | | Woodlands I (PA) | | Zelienople, PA | | 163,191.69 | | 1,560,771.57 | | 1,723,963.26 | | (194,067.24 | ) | 1983 | | 30 Years | | Woodlands I (Str) | | Streetsboro, OH | | 197,377.57 | | 1,923,787.44 | | 2,121,165.01 | | (250,523.14 | ) | 1984 | | 30 Years | | Woodlands II (Col) | | Columbus, OH | | 192,633.43 | | 1,857,587.93 | | 2,050,221.36 | | (241,386.29 | ) | 1984 | | 30 Years | | Woodlands II (PA) | | Zelienople, PA | | 192,972.36 | | 1,804,977.78 | | 1,997,950.14 | | (221,806.00 | ) | 1987 | | 30 Years | | Woodlands II (Str) | | Streetsboro, OH | | 183,996.01 | | 1,794,233.30 | | 1,978,229.31 | | (234,657.46 | ) | 1985 | | 30 Years | | Woodlands III (Col) | | Columbus, OH | | 230,536.02 | | 2,326,876.29 | | 2,557,412.31 | | (300,119.50 | ) | 1987 | | 30 Years | | Woodlands of Brookfield | | Brookfield, WI | | 1,484,600.00 | | 14,661,101.55 | | 16,145,701.55 | | (2,521,095.94 | ) | 1990 | | 30 Years | | Woodlands of Minnetonka | | Minnetonka, MN | | 2,394,500.00 | | 14,352,562.54 | | 16,747,062.54 | | (2,857,444.86 | ) | 1988 | | 30 Years | | Woodleaf | | Campbell, CA | | 8,550,600.00 | | 17,512,799.89 | | 26,063,399.89 | | (2,819,071.49 | ) | 1984 | | 30 Years | | Woodmoor | | Austin, TX | | 653,800.00 | | 7,592,802.01 | | 8,246,602.01 | | (2,832,808.07 | ) | 1981 | | 30 Years | | Woodridge (MN) | | Eagan, MN | | 1,602,300.00 | | 11,222,573.47 | | 12,824,873.47 | | (2,067,345.38 | ) | 1986 | | 30 Years | | Woodridge (CO) | | Aurora, CO | | 2,780,700.00 | | 8,391,658.08 | | 11,172,358.08 | | (1,523,142.92 | ) | 1980-82 | | 30 Years | | Woodridge II (CO) | | Aurora, CO | | — | | 4,569,927.82 | | 4,569,927.82 | | (836,391.33 | ) | 1980-82 | | 30 Years | | Woodridge III (CO) | | Aurora, CO | | — | | 10,060,185.50 | | 10,060,185.50 | | (1,841,805.72 | ) | 1980-82 | | 30 Years | | Woods of Elm Creek | | San Antonio, TX | | 590,000.00 | | 5,917,927.66 | | 6,507,927.66 | | (1,406,426.15 | ) | 1983 | | 30 Years | | Woods of North Bend | | Raleigh, NC | | 1,039,500.00 | | 10,842,238.45 | | 11,881,738.45 | | (3,473,671.23 | ) | 1983 | | 30 Years | | Woodscape | | Raleigh, NC | | 957,300.00 | | 9,311,557.84 | | 10,268,857.84 | | (2,313,365.72 | ) | 1979 | | 30 Years | | Woodside | | Lorton, VA | | 1,326,000.00 | | 13,321,173.54 | | 14,647,173.54 | | (4,093,660.88 | ) | 1987 | | 30 Years | | Woodtrail | | Newnan, GA | | 250,894.94 | | 2,385,565.35 | | 2,636,460.29 | | (284,281.09 | ) | 1984 | | 30 Years | | Woodvalley | | Anniston, AL | | 190,188.16 | | 1,761,999.90 | | 1,952,188.06 | | (222,633.73 | ) | 1986 | | 30 Years | | Wyndridge 2 | | Memphis, TN | | 1,488,000.00 | | 14,860,419.90 | | 16,348,419.90 | | (3,477,115.58 | ) | 1988 | | 30 Years | | Wyndridge 3 | | Memphis, TN | | 1,502,500.00 | | 14,382,419.86 | | 15,884,919.86 | | (3,192,022.49 | ) | 1988 | | 30 Years | | Yarmouth Woods | | Yarmouth, ME | | 692,800.00 | | 6,451,958.66 | | 7,144,758.66 | | (1,274,116.52 | ) | 1971/1978 | | 30 Years | | Yorktowne at Olde Mill | | Millersville, MD | | 216,000.00 | | 6,878,121.95 | | 7,094,121.95 | | (5,373,894.06 | ) | 1974 | | 30 Years | | Management Business | | Chicago, IL | | — | | 58,845,558.62 | | 58,845,558.62 | | (41,664,975.01 | ) | (D) | | | | Operating Partnership | | Chicago, IL(H) | | — | | — | | — | | — | | | | | | Total Investment in Real Estate | | | | $ | 1,803,577,007.59 | | $ | 11,242,686,293.62 | | $ | 13,046,263,301.21 | | $ | (2,112,017,518.57 | ) | | | | | | | | | | | | | | | | | | | | | | | | |
S - 13
EQUITY RESIDENTIAL PROPERTIES TRUST
Schedule III —- Real Estate and Accumulated Depreciation
December 31, 20012002
| |
| |
| | Initial Cost to Company
| | Cost Capitalized Subsequent to (Improvements, net) (H)
| | Gross Amount Carried at Close of Period 12/31/01
| |
|
---|
Description
| |
| | Life Used to Compute Depreciation in Latest Income Statement (C)
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Apartment Name
| | Location
| | Encumbrances
| | Land
| | Building & Fixtures
| | Land
| | Building & Fixtures
| | Land
| | Building & Fixtures (A)
| | Total (B)
| | Accumulated Depreciation
| | Date of Construction
|
---|
Country Oaks | | Agoura Hills, CA | | 29,412,000.00 | | 6,105,000.00 | | 18,820,760.52 | | — | | 82,706.85 | | 6,105,000.00 | | 18,903,467.37 | | 25,008,467.37 | | (377,387.02 | ) | 1985 | | 30 Years | Country Place | | Birmingham, AL (U) | | 1,768,319.30 | | 75,562.14 | | 1,817,198.29 | | — | | 128,940.70 | | 75,562.14 | | 1,946,138.99 | | 2,021,701.13 | | (171,420.36 | ) | 1978 | | 30 Years | Country Ridge | | Farmington Hills, MI | | (R | ) | 1,621,950.00 | | 14,596,964.22 | | — | | 1,183,978.12 | | 1,621,950.00 | | 15,780,942.34 | | 17,402,892.34 | | (3,405,205.23 | ) | 1986 | | 30 Years | Countryside I | | Daytona Beach, FL | | — | | 136,664.58 | | 1,204,163.85 | | — | | 155,455.66 | | 136,664.58 | | 1,359,619.51 | | 1,496,284.09 | | (126,653.90 | ) | 1982 | | 30 Years | Countryside II | | Daytona Beach, FL | | — | | 234,633.36 | | 2,067,375.58 | | — | | 108,105.13 | | 234,633.36 | | 2,175,480.71 | | 2,410,114.07 | | (190,028.11 | ) | 1982 | | 30 Years | Countryside III (REIT) | | Daytona Beach, FL | | 411,550.86 | | 80,000.00 | | 719,868.20 | | — | | 23,302.17 | | 80,000.00 | | 743,170.37 | | 823,170.37 | | (27,984.54 | ) | 1983 | | 30 Years | Countryside Manor | | Douglasville, GA | | — | | 298,186.45 | | 2,627,347.60 | | — | | 193,067.43 | | 298,186.45 | | 2,820,415.03 | | 3,118,601.48 | | (245,574.50 | ) | 1985 | | 30 Years | Coventry at Cityview | | Fort Worth, TX | | — | | 2,160,000.00 | | 23,072,847.21 | | — | | 514,073.48 | | 2,160,000.00 | | 23,586,920.69 | | 25,746,920.69 | | (2,751,953.27 | ) | 1996 | | 30 Years | Creekside (San Mateo) | | San Mateo, CA | | 13,792,552.98 | | 9,606,600.00 | | 21,193,231.54 | | — | | 402,114.55 | | 9,606,600.00 | | 21,595,346.09 | | 31,201,946.09 | | (2,694,957.33 | ) | 1985 | | 30 Years | Creekside Homes at Legacy | | Plano. TX | | — | | 4,560,000.00 | | 32,275,747.98 | | — | | 316,425.53 | | 4,560,000.00 | | 32,592,173.51 | | 37,152,173.51 | | (3,731,549.51 | ) | 1998 | | 30 Years | Creekside Village | | Mountlake Terrace, WA | | 14,027,592.72 | | 2,807,600.00 | | 25,270,593.68 | | — | | 1,884,502.01 | | 2,807,600.00 | | 27,155,095.69 | | 29,962,695.69 | | (7,404,266.52 | ) | 1987 | | 30 Years | Creekwood | | Charlotte, NC | | — | | 1,861,700.00 | | 16,740,568.56 | | — | | 1,150,808.82 | | 1,861,700.00 | | 17,891,377.38 | | 19,753,077.38 | | (2,883,762.92 | ) | 1987-1990 | | 30 Years | Crescent at Cherry Creek | | Denver, CO | | (E | ) | 2,594,000.00 | | 15,149,469.76 | | — | | 437,097.44 | | 2,594,000.00 | | 15,586,567.20 | | 18,180,567.20 | | (2,381,463.28 | ) | 1994 | | 30 Years | Cross Creek | | Matthews, NC | | 12,362,346.39 | | 3,151,600.00 | | 20,295,924.81 | | — | | 593,541.30 | | 3,151,600.00 | | 20,889,466.11 | | 24,041,066.11 | | (2,814,022.58 | ) | 1989 | | 30 Years | Crosswinds | | St. Petersburg, FL | | — | | 1,561,200.00 | | 5,756,821.52 | | — | | 678,233.79 | | 1,561,200.00 | | 6,435,055.31 | | 7,996,255.31 | | (1,311,668.76 | ) | 1986 | | 30 Years | Crown Court | | Scottsdale, AZ | | 14,787,000.00 | | 3,156,600.00 | | 28,414,599.11 | | — | | 1,477,844.23 | | 3,156,600.00 | | 29,892,443.34 | | 33,049,043.34 | | (5,265,668.42 | ) | 1987 | | 30 Years | Crystal Creek | | Phoenix, AZ | | — | | 953,500.00 | | 8,581,704.26 | | — | | 1,022,260.58 | | 953,500.00 | | 9,603,964.84 | | 10,557,464.84 | | (2,622,420.02 | ) | 1985 | | 30 Years | Crystal Village | | Attleboro, MA | | — | | 1,369,000.00 | | 4,989,028.15 | | — | | 611,504.80 | | 1,369,000.00 | | 5,600,532.95 | | 6,969,532.95 | | (883,172.54 | ) | 1974 | | 30 Years | Cypress | | Panama City, FL | | 1,380,545.57 | | 171,882.34 | | 1,514,635.71 | | — | | 84,976.32 | | 171,882.34 | | 1,599,612.03 | | 1,771,494.37 | | (147,687.81 | ) | 1985 | | 30 Years | Cypress Point | | Las Vegas, NV | | — | | 959,690.00 | | 8,636,550.62 | | — | | 1,148,009.75 | | 959,690.00 | | 9,784,560.37 | | 10,744,250.37 | | (2,878,287.33 | ) | 1989 | | 30 Years | Daniel Court | | Cincinnati, OH | | 2,278,701.39 | | 334,100.71 | | 2,943,516.33 | | — | | 447,785.44 | | 334,100.71 | | 3,391,301.77 | | 3,725,402.48 | | (310,436.57 | ) | 1985 | | 30 Years | Dartmouth Place I | | Kent, OH | | — | | 151,770.96 | | 1,337,421.54 | | — | | 134,082.67 | | 151,770.96 | | 1,471,504.21 | | 1,623,275.17 | | (124,105.93 | ) | 1982 | | 30 Years | Dartmouth Place II | | Kent, OH | | — | | 130,101.56 | | 1,146,336.54 | | — | | 59,891.04 | | 130,101.56 | | 1,206,227.58 | | 1,336,329.14 | | (102,514.95 | ) | 1986 | | 30 Years | Dartmouth Woods | | Lakewood, CO | | (R | ) | 1,609,800.00 | | 10,832,754.24 | | — | | 462,430.30 | | 1,609,800.00 | | 11,295,184.54 | | 12,904,984.54 | | (1,967,354.33 | ) | 1990 | | 30 Years | Dean Estates | | Taunton, MA | | — | | 498,079.65 | | 3,329,560.49 | | — | | 29,964.66 | | 498,079.65 | | 3,359,525.15 | | 3,857,604.80 | | (142,858.22 | ) | 1984 | | 30 Years | Dean Estates II | | Cranston, RI | | 1,225,289.00 | | 308,456.89 | | 2,061,971.13 | | — | | 64,487.11 | | 308,456.89 | | 2,126,458.24 | | 2,434,915.13 | | (92,322.20 | ) | 1970 | | 30 Years | Deerbrook | | Jacksonville, FL | | — | | 1,008,000.00 | | 8,845,716.24 | | — | | 436,334.23 | | 1,008,000.00 | | 9,282,050.47 | | 10,290,050.47 | | (1,175,326.31 | ) | 1983 | | 30 Years | Deerfield | | Denver, CO | | 9,100,000.00 | | 1,260,000.00 | | 7,405,292.37 | | — | | 171,539.40 | | 1,260,000.00 | | 7,576,831.77 | | 8,836,831.77 | | (169,303.65 | ) | 1983 | | 30 Years | Deerwood (Corona) | | Corona, CA | | — | | 4,742,200.00 | | 20,272,892.01 | | — | | 780,618.84 | | 4,742,200.00 | | 21,053,510.85 | | 25,795,710.85 | | (3,403,082.29 | ) | 1992 | | 30 Years | Deerwood (FL) | | Eustis, FL | | 849,268.96 | | 114,948.15 | | 1,012,818.51 | | — | | 72,143.38 | | 114,948.15 | | 1,084,961.89 | | 1,199,910.04 | | (99,381.36 | ) | 1982 | | 30 Years | Deerwood (SD) | | San Diego, CA | | — | | 2,082,095.00 | | 18,739,815.37 | | — | | 3,724,410.67 | | 2,082,095.00 | | 22,464,226.04 | | 24,546,321.04 | | (6,988,960.64 | ) | 1990 | | 30 Years | Deerwood Meadows | | Greensboro, NC | | — | | 986,743.00 | | 7,204,361.73 | | — | | 907,060.03 | | 986,743.00 | | 8,111,421.76 | | 9,098,164.76 | | (2,824,839.37 | ) | 1986 | | 30 Years | Defoor Village | | Atlanta, GA | | — | | 2,966,400.00 | | 10,570,210.33 | | — | | 187,906.28 | | 2,966,400.00 | | 10,758,116.61 | | 13,724,516.61 | | (1,390,503.59 | ) | 1997 | | 30 Years | Desert Sands | | Phoenix, AZ | | — | | 1,481,050.00 | | 13,390,248.53 | | — | | 1,466,584.77 | | 1,481,050.00 | | 14,856,833.30 | | 16,337,883.30 | | (3,464,327.64 | ) | 1982 | | 30 Years | Dogwood Glen I | | Indianpolis, IN | | 1,714,132.81 | | 240,854.78 | | 2,122,193.09 | | — | | 124,068.44 | | 240,854.78 | | 2,246,261.53 | | 2,487,116.31 | | (200,150.17 | ) | 1986 | | 30 Years | Dogwood Glen II | | Indianpolis, IN | | 1,318,760.27 | | 202,396.77 | | 1,783,336.09 | | — | | 116,984.20 | | 202,396.77 | | 1,900,320.29 | | 2,102,717.06 | | (172,493.26 | ) | 1987 | | 30 Years | Dos Caminos | | Scottsdale, AZ | | — | | 1,727,900.00 | | 15,567,778.26 | | — | | 950,809.55 | | 1,727,900.00 | | 16,518,587.81 | | 18,246,487.81 | | (2,971,904.40 | ) | 1983 | | 30 Years | Dover Place I | | Eastlake, OH | | — | | 244,293.77 | | 2,152,494.39 | | — | | 132,792.82 | | 244,293.77 | | 2,285,287.21 | | 2,529,580.98 | | (192,289.20 | ) | 1982 | | 30 Years | Dover Place II | | Eastlake, OH | | 1,585,455.70 | | 230,895.36 | | 2,034,241.71 | | — | | 52,689.67 | | 230,895.36 | | 2,086,931.38 | | 2,317,826.74 | | (170,468.89 | ) | 1983 | | 30 Years | Dover Place III | | Eastlake, OH | | 751,191.79 | | 119,835.15 | | 1,055,878.24 | | — | | 12,529.01 | | 119,835.15 | | 1,068,407.25 | | 1,188,242.40 | | (86,761.06 | ) | 1983 | | 30 Years | Dover Place IV | | Eastlake, OH | | 1,824,322.83 | | 261,911.97 | | 2,307,729.91 | | — | | 30,452.65 | | 261,911.97 | | 2,338,182.56 | | 2,600,094.53 | | (191,431.97 | ) | 1986 | | 30 Years | Driftwood | | Atlantic Beach, FL | | 346,205.63 | | 126,357.35 | | 1,113,430.46 | | — | | 132,858.30 | | 126,357.35 | | 1,246,288.76 | | 1,372,646.11 | | (114,628.47 | ) | 1985 | | 30 Years | Duraleigh Woods | | Raleigh, NC | | — | | 1,629,000.00 | | 19,917,749.59 | | — | | 1,356,498.56 | | 1,629,000.00 | | 21,274,248.15 | | 22,903,248.15 | | (2,655,814.12 | ) | 1987 | | 30 Years | Eagle Canyon | | Chino Hills, CA | | — | | 1,808,900.00 | | 16,274,360.96 | | — | | 582,643.61 | | 1,808,900.00 | | 16,857,004.57 | | 18,665,904.57 | | (3,360,481.22 | ) | 1985 | | 30 Years | East Pointe | | Charlotte, NC | | 8,965,900.05 | | 1,365,900.00 | | 12,295,246.21 | | — | | 1,490,854.60 | | 1,365,900.00 | | 13,786,100.81 | | 15,152,000.81 | | (4,376,436.85 | ) | 1987 | | 30 Years | Eastbridge | | Dallas, TX | | 9,190,320.85 | | 3,520,000.00 | | 11,837,231.21 | | — | | 1,130.23 | | 3,520,000.00 | | 11,838,361.44 | | 15,358,361.44 | | (79,656.11 | ) | 1998 | | 30 Years | Edgewater | | Bakersfield, CA | | 11,988,000.00 | | 580,000.00 | | 9,950,311.30 | | — | | 82,807.56 | | 580,000.00 | | 10,033,118.86 | | 10,613,118.86 | | (232,206.78 | ) | 1984 | | 30 Years | Edgewood | | Woodinville, WA | | 5,455,157.84 | | 1,070,100.00 | | 9,632,980.07 | | — | | 808,819.31 | | 1,070,100.00 | | 10,441,799.38 | | 11,511,899.38 | | (2,898,804.43 | ) | 1986 | | 30 Years | Elmtree Park I | | Indianpolis, IN | | 1,445,563.90 | | 157,687.17 | | 1,389,620.78 | | — | | 142,203.32 | | 157,687.17 | | 1,531,824.10 | | 1,689,511.27 | | (140,466.82 | ) | 1986 | | 30 Years | Elmtree Park II | | Indianpolis, IN | | 908,782.97 | | 114,114.14 | | 1,005,454.90 | | — | | 85,028.36 | | 114,114.14 | | 1,090,483.26 | | 1,204,597.40 | | (104,506.85 | ) | 1987 | | 30 Years | Elmwood (GA) | | Marietta, GA | | — | | 183,756.45 | | 1,619,094.62 | | — | | 67,026.91 | | 183,756.45 | | 1,686,121.53 | | 1,869,877.98 | | (144,337.16 | ) | 1984 | | 30 Years | Elmwood I (FL) | | W. Palm Beach, FL | | 316,201.53 | | 163,388.66 | | 1,439,632.14 | | — | | 42,931.66 | | 163,388.66 | | 1,482,563.80 | | 1,645,952.46 | | (126,460.26 | ) | 1984 | | 30 Years | Elmwood II (FL) | | W. Palm Beach, FL | | 1,301,033.55 | | 179,743.41 | | 1,582,960.29 | | — | | 81,684.71 | | 179,743.41 | | 1,664,645.00 | | 1,844,388.41 | | (139,385.69 | ) | 1984 | | 30 Years | Emerald Bay | | Winter Park, FL | | — | | 2,161,600.00 | | 13,550,753.15 | | — | | 1,315,093.79 | | 2,161,600.00 | | 14,865,846.94 | | 17,027,446.94 | | (2,532,535.23 | ) | 1972 | | 30 Years | Emerald Place | | Bermuda Dunes, CA | | — | | 956,500.00 | | 8,609,599.40 | | — | | 936,417.13 | | 956,500.00 | | 9,546,016.53 | | 10,502,516.53 | | (2,931,635.32 | ) | 1988 | | 30 Years | Emerson Place Combined | | Boston, MA | | — | | 14,855,000.00 | | 57,566,635.65 | | — | | 5,834,512.47 | | 14,855,000.00 | | 63,401,148.12 | | 78,256,148.12 | | (8,323,050.84 | ) | 1962 | | 30 Years | Enclave, The | | Tempe, AZ | | (M | ) | 1,500,192.00 | | 19,281,398.59 | | — | | 265,117.51 | | 1,500,192.00 | | 19,546,516.10 | | 21,046,708.10 | | (2,819,908.38 | ) | 1994 | | 30 Years | English Hills | | Charlotte, NC | | — | | 1,260,000.00 | | 12,554,291.22 | | — | | 439,943.01 | | 1,260,000.00 | | 12,994,234.23 | | 14,254,234.23 | | (1,630,291.06 | ) | 1984 | | 30 Years | Esprit Del Sol | | Solana Beach, CA | | — | | 5,111,200.00 | | 11,910,438.14 | | — | | 450,120.61 | | 5,111,200.00 | | 12,360,558.75 | | 17,471,758.75 | | (1,557,667.17 | ) | 1986 | | 30 Years | Essex Place | | Overland Park, KS | | — | | 1,835,400.00 | | 16,513,585.66 | | — | | 2,892,803.06 | | 1,835,400.00 | | 19,406,388.72 | | 21,241,788.72 | | (5,916,882.12 | ) | 1970-84 | | 30 Years | Essex Place (FL) | | Tampa, FL | | — | | 1,188,000.00 | | 7,106,384.37 | | — | | 399,822.92 | | 1,188,000.00 | | 7,506,207.29 | | 8,694,207.29 | | (940,153.01 | ) | 1989 | | 30 Years | Ethans Glen III | | Kansas City, MO | | 2,364,258.00 | | 246,500.00 | | 2,223,049.34 | | — | | 157,122.46 | | 246,500.00 | | 2,380,171.80 | | 2,626,671.80 | | (391,138.27 | ) | 1990 | | 30 Years | Ethans Ridge I | | Kansas City, MO | | 16,216,607.00 | | 1,948,300.00 | | 17,573,969.73 | | — | | 1,361,740.53 | | 1,948,300.00 | | 18,935,710.26 | | 20,884,010.26 | | (3,004,478.92 | ) | 1988 | | 30 Years | Ethans Ridge II | | Kansas City, MO | | 10,981,324.00 | | 1,468,134.66 | | 13,183,141.26 | | — | | 687,111.08 | | 1,468,134.66 | | 13,870,252.34 | | 15,338,387.00 | | (2,137,289.75 | ) | 1990 | | 30 Years | Fairfield Combined | | Stamford, CT | | — | | 6,510,200.00 | | 39,690,120.06 | | — | | 374,970.60 | | 6,510,200.00 | | 40,065,090.66 | | 46,575,290.66 | | (5,253,325.06 | ) | 1996 | | 30 Years | Fairland Gardens | | Silver Spring, MD | | — | | 6,000,000.00 | | 19,972,183.10 | | — | | 1,013,030.29 | | 6,000,000.00 | | 20,985,213.39 | | 26,985,213.39 | | (2,243,961.25 | ) | 1981 | | 30 Years | Farmington Gates | | Germantown, TN | | — | | 973,797.81 | | 8,786,179.80 | | — | | 657,903.37 | | 973,797.81 | | 9,444,083.17 | | 10,417,880.98 | | (1,553,885.00 | ) | 1976 | | 30 Years | Farnham Park | | Houston, TX | | 11,115,950.95 | | 1,512,600.00 | | 14,233,759.62 | | — | | 309,623.65 | | 1,512,600.00 | | 14,543,383.27 | | 16,055,983.27 | | (2,091,518.24 | ) | 1996 | | 30 Years | Feather River | | Stockton, CA | | 4,867,000.00 | | 770,000.00 | | 3,777,440.43 | | — | | 19,154.22 | | 770,000.00 | | 3,796,594.65 | | 4,566,594.65 | | (95,131.54 | ) | 1981 | | 30 Years | Fernbrook Townhomes | | Plymouth, MN | | 5,115,294.24 | | 580,100.00 | | 6,683,692.61 | | — | | 152,629.20 | | 580,100.00 | | 6,836,321.81 | | 7,416,421.81 | | (843,763.67 | ) | 1993 | | 30 Years | Fielder Crossing | | Arlington, TX | | 3,291,696.20 | | 718,100.00 | | 3,933,387.18 | | — | | 107,615.11 | | 718,100.00 | | 4,041,002.29 | | 4,759,102.29 | | (563,088.45 | ) | 1980 | | 30 Years | Fireside Park | | Rockville, MD | | 8,446,240.01 | | 4,248,000.00 | | 10,136,319.94 | | — | | 507,686.80 | | 4,248,000.00 | | 10,644,006.74 | | 14,892,006.74 | | (1,201,821.87 | ) | 1961 | | 30 Years | Forest Glen | | Pensacola, FL | | — | | 161,548.49 | | 1,423,618.28 | | — | | 166,288.09 | | 161,548.49 | | 1,589,906.37 | | 1,751,454.86 | | (148,834.26 | ) | 1986 | | 30 Years | Forest Place | | Tampa, FL | | 10,518,928.41 | | 1,708,000.00 | | 8,612,028.53 | | — | | 404,644.23 | | 1,708,000.00 | | 9,016,672.76 | | 10,724,672.76 | | (1,207,467.24 | ) | 1985 | | 30 Years | Forest Ridge I & II | | Arlington, TX | | 16,541,000.00 | | 2,362,700.00 | | 21,263,294.52 | | — | | 1,790,156.25 | | 2,362,700.00 | | 23,053,450.77 | | 25,416,150.77 | | (5,497,325.73 | ) | 1984/85 | | 30 Years | Forest Village | | Macon, GA | | — | | 224,021.80 | | 1,973,876.21 | | — | | 151,163.22 | | 224,021.80 | | 2,125,039.43 | | 2,349,061.23 | | (177,941.31 | ) | 1983 | | 30 Years | Forsythia Court (KY) | | Louisville, KY | | 1,871,305.79 | | 279,450.32 | | 2,462,186.82 | | — | | 146,427.00 | | 279,450.32 | | 2,608,613.82 | | 2,888,064.14 | | (221,392.92 | ) | 1985 | | 30 Years | Forsythia Court (MD) | | Abingdon, MD | | 2,037,566.70 | | 251,955.21 | | 2,220,099.99 | | — | | 170,899.19 | | 251,955.21 | | 2,390,999.18 | | 2,642,954.39 | | (205,158.06 | ) | 1986 | | 30 Years | Forsythia Court II (MD) | | Abingdon, MD | | — | | 239,833.55 | | 2,113,338.95 | | — | | 161,903.92 | | 239,833.55 | | 2,275,242.87 | | 2,515,076.42 | | (194,694.20 | ) | 1987 | | 30 Years | Fountain Creek | | Phoenix, AZ | | — | | 686,500.00 | | 6,177,919.79 | | — | | 799,116.37 | | 686,500.00 | | 6,977,036.16 | | 7,663,536.16 | | (1,859,581.07 | ) | 1984 | | 30 Years | Fountain Place I | | Eden Prairie, MN | | 24,653,106.00 | | 2,405,068.29 | | 21,694,116.90 | | — | | 709,689.04 | | 2,405,068.29 | | 22,403,805.94 | | 24,808,874.23 | | (3,440,818.48 | ) | 1989 | | 30 Years | Fountain Place II | | Eden Prairie, MN | | 12,600,000.00 | | 1,231,349.55 | | 11,095,333.38 | | — | | 274,954.71 | | 1,231,349.55 | | 11,370,288.09 | | 12,601,637.64 | | (1,711,312.53 | ) | 1989 | | 30 Years | Fountainhead I | | San Antonio, TX | | (P | ) | 1,205,816.00 | | 5,200,240.60 | | — | | 247,027.09 | | 1,205,816.00 | | 5,447,267.69 | | 6,653,083.69 | | (2,997,973.14 | ) | 1985/1987 | | 30 Years | Fountainhead II | | San Antonio, TX | | (P | ) | 1,205,817.00 | | 4,529,801.24 | | — | | 888,864.65 | | 1,205,817.00 | | 5,418,665.89 | | 6,624,482.89 | | (2,799,867.17 | ) | 1985/1987 | | 30 Years | Fountainhead III | | San Antonio, TX | | (P | ) | 1,205,816.00 | | 4,399,092.50 | | — | | 889,508.69 | | 1,205,816.00 | | 5,288,601.19 | | 6,494,417.19 | | (2,505,397.67 | ) | 1985/1987 | | 30 Years | Fountains at Flamingo | | Las Vegas, NV | | 15,384,000.00 | | 3,183,100.00 | | 28,650,075.52 | | — | | 1,625,362.39 | | 3,183,100.00 | | 30,275,437.91 | | 33,458,537.91 | | (7,971,868.31 | ) | 1989-91 | | 30 Years | Four Lakes | | Lisle, IL | | — | | 2,150,959.00 | | 6,811,631.00 | | — | | 11,024,239.38 | | 2,150,959.00 | | 17,835,870.38 | | 19,986,829.38 | | (14,602,233.05 | ) | 1968/1988* | | 30 Years | Four Lakes 5 | | Lisle, IL | | (P | ) | 600,000.00 | | 19,186,686.01 | | — | | 1,597,961.57 | | 600,000.00 | | 20,784,647.58 | | 21,384,647.58 | | (9,692,038.00 | ) | 1968/1988* | | 30 Years | Four Lakes Athletic Club | | Lisle, IL | | — | | 50,000.00 | | 153,488.68 | | — | | 5,700.00 | | 50,000.00 | | 159,188.68 | | 209,188.68 | | (12,896.80 | ) | N/A | | 30 Years | Four Lakes Condo | | Lisle, IL | | — | | 640,000.00 | | 5,775,680.00 | | — | | 696,245.81 | | 640,000.00 | | 6,471,925.81 | | 7,111,925.81 | | (49,924.23 | ) | 1972 | | 30 Years | Four Lakes Leasing Center | | Lisle, IL | | — | | 50,000.00 | | 152,815.00 | | — | | 31,396.76 | | 50,000.00 | | 184,211.76 | | 234,211.76 | | (23,053.30 | ) | N/A | | 30 Years | Four Winds | | Fall River, MA | | 6,004,919.00 | | 1,370,842.90 | | 9,163,804.20 | | — | | 166,435.05 | | 1,370,842.90 | | 9,330,239.25 | | 10,701,082.15 | | (394,990.73 | ) | 1987 | | 30 Years | Fox Hill Apartments | | Enfield, CT | | 5,553,940.00 | | 1,129,018.28 | | 7,547,256.07 | | — | | 102,379.84 | | 1,129,018.28 | | 7,649,635.91 | | 8,778,654.19 | | (334,629.02 | ) | 1974 | | 30 Years | Fox Hill Commons | | Vernon, CT | | 2,195,541.00 | | 478,502.81 | | 3,198,693.32 | | — | | 38,474.89 | | 478,502.81 | | 3,237,168.21 | | 3,715,671.02 | | (142,361.73 | ) | 1965 | | 30 Years | Fox Ridge | | Englewood, CO | | 20,300,000.00 | | 2,490,000.00 | | 17,139,840.18 | | — | | 145,197.30 | | 2,490,000.00 | | 17,285,037.48 | | 19,775,037.48 | | (361,784.70 | ) | 1984 | | 30 Years | Fox Run (WA) | | Federal Way, WA | | — | | 639,700.00 | | 5,765,017.82 | | — | | 673,212.53 | | 639,700.00 | | 6,438,230.35 | | 7,077,930.35 | | (1,973,911.26 | ) | 1988 | | 30 Years | Foxcroft | | Scarborough, ME | | — | | 523,400.00 | | 4,527,408.97 | | — | | 315,999.33 | | 523,400.00 | | 4,843,408.30 | | 5,366,808.30 | | (737,464.98 | ) | 1977/1979 | | 30 Years | Foxhaven | | Canton, OH | | 1,750,573.82 | | 256,820.91 | | 2,263,172.10 | | — | | 213,249.51 | | 256,820.91 | | 2,476,421.61 | | 2,733,242.52 | | (216,766.30 | ) | 1986 | | 30 Years | Foxton (MI) | | Monroe, MI | | 864,702.88 | | 156,362.50 | | 1,377,823.99 | | — | | 56,203.48 | | 156,362.50 | | 1,434,027.47 | | 1,590,389.97 | | (122,012.77 | ) | 1983 | | 30 Years | Foxton II (OH) | | Dayton, OH | | 1,331,234.03 | | 165,805.54 | | 1,460,832.47 | | — | | 72,607.34 | | 165,805.54 | | 1,533,439.81 | | 1,699,245.35 | | (136,367.34 | ) | 1983 | | 30 Years | Garden Court | | Detriot, MI | | 2,066,137.71 | | 351,531.69 | | 3,096,890.33 | | — | | 99,598.22 | | 351,531.69 | | 3,196,488.55 | | 3,548,020.24 | | (264,651.57 | ) | 1988 | | 30 Years | Garden Lake | | Riverdale, GA | | — | | 1,466,900.00 | | 13,186,716.06 | | — | | 527,116.23 | | 1,466,900.00 | | 13,713,832.29 | | 15,180,732.29 | | (2,263,179.25 | ) | 1991 | | 30 Years | Garden Terrace I | | Tampa, FL | | 570,856.56 | | 93,143.89 | | 820,699.22 | | — | | 97,718.23 | | 93,143.89 | | 918,417.45 | | 1,011,561.34 | | (91,759.26 | ) | 1981 | | 30 Years | Garden Terrace II | | Tampa, FL | | 652,407.24 | | 97,119.68 | | 855,730.21 | | — | | 68,822.37 | | 97,119.68 | | 924,552.58 | | 1,021,672.26 | | (92,127.40 | ) | 1982 | | 30 Years | Gatehouse at Pine Lake | | Pembroke Pines, FL | | — | | 1,896,600.00 | | 17,070,794.56 | | — | | 890,924.07 | | 1,896,600.00 | | 17,961,718.63 | | 19,858,318.63 | | (3,517,736.06 | ) | 1990 | | 30 Years | Gatehouse on the Green | | Plantation, FL | | — | | 2,228,200.00 | | 20,056,270.22 | | — | | 1,128,831.20 | | 2,228,200.00 | | 21,185,101.42 | | 23,413,301.42 | | (4,158,929.71 | ) | 1990 | | 30 Years | Gates at Carlson Center | | Minnetonka, MN | | (N | ) | 4,355,200.00 | | 23,802,816.77 | | — | | 931,858.52 | | 4,355,200.00 | | 24,734,675.29 | | 29,089,875.29 | | (3,542,037.40 | ) | 1989 | | 30 Years |
S-3
Gates of Redmond | | Redmond, WA | | 5,958,096.79 | | 2,306,100.00 | | 12,080,659.89 | | — | | 453,111.36 | | 2,306,100.00 | | 12,533,771.25 | | 14,839,871.25 | | (2,065,711.91 | ) | 1979 | | 30 Years | Gateway Villas | | Scottsdale, AZ | | — | | 1,431,048.00 | | 14,926,832.51 | | — | | 248,510.12 | | 1,431,048.00 | | 15,175,342.63 | | 16,606,390.63 | | (2,205,923.50 | ) | 1995 | | 30 Years | Geary Court Yard | | San Francisco, CA | | 17,693,865.00 | | 1,722,400.00 | | 15,471,429.16 | | — | | 606,012.46 | | 1,722,400.00 | | 16,077,441.62 | | 17,799,841.62 | | (2,348,924.67 | ) | 1990 | | 30 Years | Georgian Woods Combined (REIT) | | Wheaton, MD | | 18,199,053.89 | | 5,038,400.00 | | 28,837,368.82 | | — | | 2,902,987.97 | | 5,038,400.00 | | 31,740,356.79 | | 36,778,756.79 | | (7,423,778.81 | ) | 1967 | | 30 Years | Glastonbury Center | | Glastonbury, CT | | 4,182,834.75 | | 852,606.10 | | 5,699,497.28 | | — | | 195,908.82 | | 852,606.10 | | 5,895,406.10 | | 6,748,012.20 | | (249,531.28 | ) | 1962 | | 30 Years | Glen Arm Manor | | Albany, GA | | 1,129,280.92 | | 166,498.48 | | 1,466,883.08 | | — | | 81,798.74 | | 166,498.48 | | 1,548,681.82 | | 1,715,180.30 | | (136,851.93 | ) | 1986 | | 30 Years | Glen Eagle | | Greenville, SC | | — | | 835,900.00 | | 7,523,243.58 | | — | | 255,923.46 | | 835,900.00 | | 7,779,167.04 | | 8,615,067.04 | | (1,297,575.47 | ) | 1990 | | 30 Years | Glen Grove | | Wellesley, MA | | 5,594,851.98 | | 1,344,601.04 | | 8,988,382.70 | | — | | 76,182.76 | | 1,344,601.04 | | 9,064,565.46 | | 10,409,166.50 | | (380,751.58 | ) | 1979 | | 30 Years | Glen Meadow | | Franklin, MA | | 2,451,816.13 | | 2,339,330.34 | | 15,637,944.47 | | — | | 881,423.21 | | 2,339,330.34 | | 16,519,367.68 | | 18,858,698.02 | | (741,956.79 | ) | 1971 | | 30 Years | GlenGarry Club | | Bloomingdale, IL | | (N | ) | 3,129,700.00 | | 15,807,888.64 | | — | | 986,520.05 | | 3,129,700.00 | | 16,794,408.69 | | 19,924,108.69 | | (2,479,330.80 | ) | 1989 | | 30 Years | Glenlake | | Glendale Heights. IL | | 14,845,000.00 | | 5,041,700.00 | | 16,671,969.86 | | — | | 2,850,177.27 | | 5,041,700.00 | | 19,522,147.13 | | 24,563,847.13 | | (2,858,616.79 | ) | 1988 | | 30 Years | Glenwood Village | | Macon, GA | | 1,065,204.87 | | 167,778.79 | | 1,478,613.98 | | — | | 86,845.40 | | 167,778.79 | | 1,565,459.38 | | 1,733,238.17 | | (138,652.09 | ) | 1986 | | 30 Years | Gosnold Grove | | East Falmouth, MA | | 680,657.99 | | 124,295.62 | | 830,890.76 | | — | | 36,541.11 | | 124,295.62 | | 867,431.87 | | 991,727.49 | | (42,355.30 | ) | 1978 | | 30 Years | Governor's Pointe | | Roswell, GA | | (E | ) | 3,746,600.00 | | 24,511,111.56 | | — | | 1,584,845.41 | | 3,746,600.00 | | 26,095,956.97 | | 29,842,556.97 | | (4,318,529.81 | ) | 1982-1986 | | 30 Years | Granada Highlands | | Malden, MA | | — | | 28,210,000.00 | | 99,944,576.46 | | — | | 2,018,235.31 | | 28,210,000.00 | | 101,962,811.77 | | 130,172,811.77 | | (7,831,599.03 | ) | 1972 | | 30 Years | Grand Reserve | | Woodbury, MN | | — | | 4,728,000.00 | | 49,541,641.99 | | — | | 96,312.55 | | 4,728,000.00 | | 49,637,954.54 | | 54,365,954.54 | | (1,468,328.62 | ) | 2000 | | 30 Years | Grandview I & II | | Las Vegas, NV | | — | | 2,333,300.00 | | 15,527,831.02 | | — | | 868,936.04 | | 2,333,300.00 | | 16,396,767.06 | | 18,730,067.06 | | (2,247,142.23 | ) | 1980 | | 30 Years | Greenbriar (AL) | | Montgomery, AL (U) | | 1,683,614.86 | | 94,355.62 | | 2,051,619.25 | | — | | 101,901.74 | | 94,355.62 | | 2,153,520.99 | | 2,247,876.61 | | (186,132.99 | ) | 1979 | | 30 Years | Greenbriar Glen | | Altlanta, GA | | 1,487,167.77 | | 227,701.24 | | 2,006,246.10 | | — | | 36,808.10 | | 227,701.24 | | 2,043,054.20 | | 2,270,755.44 | | (171,677.67 | ) | 1988 | | 30 Years | Greenfield Village | | Rocky Hill, CT | | — | | 911,534.03 | | 6,093,418.42 | | — | | 48,098.78 | | 911,534.03 | | 6,141,517.20 | | 7,053,051.23 | | (271,453.96 | ) | 1965 | | 30 Years | Greengate | | Marietta, GA | | — | | 132,978.82 | | 1,526,005.00 | | — | | 1,505,449.60 | | 132,978.82 | | 3,031,454.60 | | 3,164,433.42 | | (2,141,277.57 | ) | 1971 | | 30 Years | Greengate (FL) | | W. Palm Beach, FL | | 2,637,108.29 | | 2,500,000.00 | | 1,615,858.84 | | — | | 169,699.23 | | 2,500,000.00 | | 1,785,558.07 | | 4,285,558.07 | | (105,450.03 | ) | 1987 | | 30 Years | Greenglen (Day) | | Dayton, OH | | — | | 204,289.28 | | 1,800,172.18 | | — | | 106,232.03 | | 204,289.28 | | 1,906,404.21 | | 2,110,693.49 | | (167,175.07 | ) | 1983 | | 30 Years | Greenglen II (Tol) | | Toledo, OH | | 786,078.73 | | 162,263.62 | | 1,429,719.33 | | — | | 35,912.63 | | 162,263.62 | | 1,465,631.96 | | 1,627,895.58 | | (124,489.71 | ) | 1982 | | 30 Years | Greenhaven | | Union City, CA | | 10,594,614.29 | | 7,507,000.00 | | 15,210,398.75 | | — | | 802,216.46 | | 7,507,000.00 | | 16,012,615.21 | | 23,519,615.21 | | (2,022,588.65 | ) | 1983 | | 30 Years | Greenhouse — Frey Road | | Kennesaw, GA | | (P | ) | 2,467,200.00 | | 22,187,443.25 | | — | | 2,114,166.73 | | 2,467,200.00 | | 24,301,609.98 | | 26,768,809.98 | | (7,024,985.13 | ) | 1985 | | 30 Years | Greenhouse — Holcomb Bridge | | Alpharetta, GA | | (P | ) | 2,143,300.00 | | 19,291,427.17 | | — | | 2,171,696.47 | | 2,143,300.00 | | 21,463,123.64 | | 23,606,423.64 | | (6,240,479.46 | ) | 1985 | | 30 Years | Greenhouse — Roswell | | Roswell, GA | | (P | ) | 1,220,000.00 | | 10,974,727.39 | | — | | 1,272,107.62 | | 1,220,000.00 | | 12,246,835.01 | | 13,466,835.01 | | (3,643,395.57 | ) | 1985 | | 30 Years | Greentree 1 | | Glen Burnie, MD | | 11,338,969.78 | | 3,912,968.00 | | 11,784,020.85 | | — | | 1,026,357.99 | | 3,912,968.00 | | 12,810,378.84 | | 16,723,346.84 | | (1,343,056.71 | ) | 1973 | | 30 Years | Greentree 2 | | Glen Burnie, MD | | — | | 2,700,000.00 | | 8,246,736.65 | | — | | 523,629.39 | | 2,700,000.00 | | 8,770,366.04 | | 11,470,366.04 | | (852,812.13 | ) | 1973 | | 30 Years | Greentree 3 | | Glen Burnie, MD | | 6,978,865.97 | | 2,380,443.00 | | 7,270,294.04 | | — | | 405,726.12 | | 2,380,443.00 | | 7,676,020.16 | | 10,056,463.16 | | (767,993.70 | ) | 1973 | | 30 Years | Greentree I (GA) (REIT) | | Thomasville, GA | | 672,543.75 | | 84,750.00 | | 762,659.20 | | — | | 28,234.75 | | 84,750.00 | | 790,893.95 | | 875,643.95 | | (30,982.73 | ) | 1983 | | 30 Years | Greentree II (GA) (REIT) | | Thomasville, GA | | 505,013.62 | | 81,000.00 | | 729,283.17 | | — | | 31,528.82 | | 81,000.00 | | 760,811.99 | | 841,811.99 | | (28,200.88 | ) | 1984 | | 30 Years | Greenwood Village | | Tempe, AZ | | — | | 2,118,781.00 | | 17,274,215.96 | | — | | 767,632.12 | | 2,118,781.00 | | 18,041,848.08 | | 20,160,629.08 | | (2,828,220.28 | ) | 1984 | | 30 Years | Grey Eagle | | Taylors, SC | | — | | 727,600.00 | | 6,547,650.42 | | — | | 206,570.85 | | 727,600.00 | | 6,754,221.27 | | 7,481,821.27 | | (1,116,952.54 | ) | 1991 | | 30 Years | Greystone | | Atlanta, GA | | — | | 2,252,000.00 | | 5,204,900.59 | | — | | 1,484,737.95 | | 2,252,000.00 | | 6,689,638.54 | | 8,941,638.54 | | (1,090,154.96 | ) | 1960 | | 30 Years | Gwinnett Crossing | | Duluth, GA | | — | | 2,632,000.00 | | 32,016,495.96 | | — | | 1,263,910.01 | | 2,632,000.00 | | 33,280,405.97 | | 35,912,405.97 | | (4,043,366.96 | ) | 1989/90 | | 30 Years | Hall Place | | Quincy, MA | | — | | 3,150,800.00 | | 5,121,949.51 | | — | | 239,438.90 | | 3,150,800.00 | | 5,361,388.41 | | 8,512,188.41 | | (612,714.61 | ) | 1998 | | 30 Years | Hammock's Place | | Miami, FL | | (F | ) | 319,180.00 | | 12,513,466.73 | | — | | 1,085,003.23 | | 319,180.00 | | 13,598,469.96 | | 13,917,649.96 | | (4,214,311.23 | ) | 1986 | | 30 Years | Hampshire II | | Elyria, OH | | 837,743.64 | | 126,231.36 | | 1,112,035.85 | | — | | 56,045.76 | | 126,231.36 | | 1,168,081.61 | | 1,294,312.97 | | (99,598.24 | ) | 1981 | | 30 Years | Hamptons | | Puyallup, WA | | — | | 1,119,200.00 | | 10,075,844.29 | | — | | 455,485.51 | | 1,119,200.00 | | 10,531,329.80 | | 11,650,529.80 | | (1,916,204.62 | ) | 1991 | | 30 Years | Harbinwood | | Norcross, GA | | 1,568,827.19 | | 236,760.99 | | 2,086,122.35 | | — | | 101,096.66 | | 236,760.99 | | 2,187,219.01 | | 2,423,980.00 | | (187,731.23 | ) | 1985 | | 30 Years | Harbor Pointe | | Milwaukee, WI | | 12,000,000.00 | | 2,979,800.00 | | 22,096,545.77 | | — | | 1,929,877.44 | | 2,979,800.00 | | 24,026,423.21 | | 27,006,223.21 | | (3,771,121.64 | ) | 1970/1990 | | 30 Years | Harborview | | Rancho Palos Verdes, CA | | — | | 6,402,500.00 | | 12,627,346.89 | | — | | 542,398.93 | | 6,402,500.00 | | 13,169,745.82 | | 19,572,245.82 | | (2,338,317.09 | ) | 1985 | | 30 Years | Harbour Town | | Boca Raton, FL | | — | | 11,760,000.00 | | 20,190,752.11 | | — | | 1,537,708.74 | | 11,760,000.00 | | 21,728,460.85 | | 33,488,460.85 | | (1,169,686.18 | ) | 1985 | | 30 Years | Harrison Park | | Tucson, AZ | | — | | 1,265,094.00 | | 16,342,321.80 | | — | | 509,620.78 | | 1,265,094.00 | | 16,851,942.58 | | 18,117,036.58 | | (2,605,702.03 | ) | 1985 | | 30 Years | Hartwick | | Tipton, IN | | 120,687.56 | | 123,790.52 | | 1,090,729.42 | | — | | 64,637.61 | | 123,790.52 | | 1,155,367.03 | | 1,279,157.55 | | (103,849.80 | ) | 1982 | | 30 Years | Harvest Grove | | Conyers, GA | | — | | 752,000.00 | | 18,717,899.36 | | — | | 394,173.63 | | 752,000.00 | | 19,112,072.99 | | 19,864,072.99 | | (2,327,212.62 | ) | 1986 | | 30 Years | Harvest Grove I | | Gahanna, OH | | 1,590,836.98 | | 170,334.08 | | 1,500,231.87 | | — | | 155,606.10 | | 170,334.08 | | 1,655,837.97 | | 1,826,172.05 | | (147,057.00 | ) | 1986 | | 30 Years | Harvest Grove II | | Gahanna, OH | | 1,037,670.47 | | 148,791.56 | | 1,310,817.80 | | — | | 31,888.54 | | 148,791.56 | | 1,342,706.34 | | 1,491,497.90 | | (115,146.49 | ) | 1987 | | 30 Years | Hatcherway | | Waycross, GA | | 723,571.64 | | 96,885.44 | | 853,716.34 | | — | | 161,796.37 | | 96,885.44 | | 1,015,512.71 | | 1,112,398.15 | | (96,186.52 | ) | 1986 | | 30 Years | Hathaway | | Long Beach, CA | | — | | 2,512,500.00 | | 22,611,911.55 | | — | | 1,204,900.44 | | 2,512,500.00 | | 23,816,811.99 | | 26,329,311.99 | | (5,630,849.45 | ) | 1987 | | 30 Years | Hayfield Park | | Burlington, KY | | 1,545,719.46 | | 261,456.81 | | 2,303,394.44 | | — | | 148,468.11 | | 261,456.81 | | 2,451,862.55 | | 2,713,319.36 | | (206,260.62 | ) | 1986 | | 30 Years | Haywood Pointe | | Greenville, SC | | — | | 480,000.00 | | 9,163,270.88 | | — | | 416,704.52 | | 480,000.00 | | 9,579,975.40 | | 10,059,975.40 | | (1,175,520.26 | ) | 1985 | | 30 Years | Hearthstone | | San Antonio, TX | | — | | 1,035,900.00 | | 3,525,388.03 | | — | | 1,207,992.39 | | 1,035,900.00 | | 4,733,380.42 | | 5,769,280.42 | | (1,682,919.24 | ) | 1982 | | 30 Years | Heathmoore (Eva) | | Evansville, IN | | 1,114,476.27 | | 162,374.53 | | 1,430,746.53 | | — | | 124,164.53 | | 162,374.53 | | 1,554,911.06 | | 1,717,285.59 | | (133,743.02 | ) | 1984 | | 30 Years | Heathmoore (KY) | | Louisville, KY | | 893,567.76 | | 156,839.84 | | 1,381,729.91 | | — | | 55,433.64 | | 156,839.84 | | 1,437,163.55 | | 1,594,003.39 | | (124,253.08 | ) | 1983 | | 30 Years | Heathmoore (MI) | | Clinton Twp., MI | | 1,675,538.58 | | 227,105.01 | | 2,001,242.63 | | — | | 109,552.97 | | 227,105.01 | | 2,110,795.60 | | 2,337,900.61 | | (185,534.41 | ) | 1983 | | 30 Years | Heathmoore I (IN) | | Indianapolis, IN | | 1,200,338.20 | | 144,556.70 | | 1,273,702.04 | | — | | 114,811.04 | | 144,556.70 | | 1,388,513.08 | | 1,533,069.78 | | (126,158.46 | ) | 1983 | | 30 Years | Heathmoore I (MI) | | Canton, MI | | 1,532,026.10 | | 232,063.87 | | 2,044,226.60 | | — | | 121,783.04 | | 232,063.87 | | 2,166,009.64 | | 2,398,073.51 | | (184,338.43 | ) | 1986 | | 30 Years | Heathmoore II (MI) | | Canton, MI | | — | | 170,432.57 | | 1,501,696.63 | | — | | 75,872.66 | | 170,432.57 | | 1,577,569.29 | | 1,748,001.86 | | (134,997.43 | ) | 1986 | | 30 Years | Heritage Green | | Sturbridge, MA | | 3,799,188.13 | | 835,313.22 | | 5,583,897.92 | | — | | 28,862.31 | | 835,313.22 | | 5,612,760.23 | | 6,448,073.45 | | (245,095.33 | ) | 1974 | | 30 Years | Heritage, The | | Phoenix, AZ | | — | | 1,211,205.00 | | 13,136,903.36 | | — | | 290,612.86 | | 1,211,205.00 | | 13,427,516.22 | | 14,638,721.22 | | (1,985,212.77 | ) | 1995 | | 30 Years | Heron Cove | | Coral Springs, FL | | — | | 823,000.00 | | 8,114,761.58 | | — | | 765,354.85 | | 823,000.00 | | 8,880,116.43 | | 9,703,116.43 | | (2,618,602.04 | ) | 1987 | | 30 Years | Heron Pointe | | Boynton Beach, FL | | — | | 1,546,700.00 | | 7,774,676.05 | | — | | 664,682.52 | | 1,546,700.00 | | 8,439,358.57 | | 9,986,058.57 | | (1,663,404.41 | ) | 1989 | | 30 Years | Heron Pointe (Atl) | | Atlantic Beach, FL | | 1,577,155.10 | | 214,332.10 | | 1,888,814.41 | | — | | 200,993.17 | | 214,332.10 | | 2,089,807.58 | | 2,304,139.68 | | (197,743.96 | ) | 1986 | | 30 Years | Heron Run | | Plantation, FL | | — | | 917,800.00 | | 9,006,476.14 | | — | | 943,087.56 | | 917,800.00 | | 9,949,563.70 | | 10,867,363.70 | | (2,989,284.41 | ) | 1987 | | 30 Years | Heronwood (REIT) | | Ft. Myers, FL | | 1,223,389.22 | | 146,100.00 | | 1,315,210.70 | | — | | 20,524.17 | | 146,100.00 | | 1,335,734.87 | | 1,481,834.87 | | (49,723.86 | ) | 1982 | | 30 Years | Hessian Hills | | Charlottesville, VA (U) | | 5,213,954.29 | | 181,229.43 | | 5,024,414.55 | | — | | 183,873.99 | | 181,229.43 | | 5,208,288.54 | | 5,389,517.97 | | (427,362.38 | ) | 1966 | | 30 Years | Hickory Creek | | Richmond, VA | | — | | 1,323,000.00 | | 18,520,609.01 | | — | | 585,841.38 | | 1,323,000.00 | | 19,106,450.39 | | 20,429,450.39 | | (2,309,829.73 | ) | 1984 | | 30 Years | Hickory Mill | | Hillard, OH | | 1,015,317.48 | | 161,714.41 | | 1,424,682.19 | | — | | 99,133.63 | | 161,714.41 | | 1,523,815.82 | | 1,685,530.23 | | (139,302.27 | ) | 1980 | | 30 Years | Hickory Mill I | | Hurricane, WV | | 912,161.28 | | 129,186.80 | | 1,138,301.52 | | — | | 56,481.41 | | 129,186.80 | | 1,194,782.93 | | 1,323,969.73 | | (103,803.53 | ) | 1983 | | 30 Years | Hickory Place | | Gainesville, GL | | 1,306,531.16 | | 192,453.32 | | 1,695,454.44 | | — | | 177,463.68 | | 192,453.32 | | 1,872,918.12 | | 2,065,371.44 | | (167,879.06 | ) | 1983 | | 30 Years | Hickory Ridge | | Greenville, SC | | — | | 288,200.00 | | 2,591,929.81 | | — | | 343,995.27 | | 288,200.00 | | 2,935,925.08 | | 3,224,125.08 | | (528,448.60 | ) | 1968 | | 30 Years | Hidden Acres | | Sarasota, FL | | 1,612,777.42 | | 253,138.81 | | 2,230,578.76 | | — | | 117,765.70 | | 253,138.81 | | 2,348,344.46 | | 2,601,483.27 | | (205,288.30 | ) | 1987 | | 30 Years | Hidden Lake | | Sacramento, CA | | 15,165,000.00 | | 1,715,000.00 | | 11,191,724.28 | | — | | 59,098.15 | | 1,715,000.00 | | 11,250,822.43 | | 12,965,822.43 | | (255,529.74 | ) | 1985 | | 30 Years | Hidden Lakes | | Haltom City, TX | | — | | 1,872,000.00 | | 20,242,108.80 | | — | | 391,624.21 | | 1,872,000.00 | | 20,633,733.01 | | 22,505,733.01 | | (2,417,159.94 | ) | 1996 | | 30 Years | Hidden Oaks | | Cary, NC | | — | | 1,178,600.00 | | 10,614,135.38 | | — | | 1,002,391.39 | | 1,178,600.00 | | 11,616,526.77 | | 12,795,126.77 | | (2,031,265.19 | ) | 1988 | | 30 Years | Hidden Palms | | Tampa, FL | | (E | ) | 2,049,600.00 | | 6,345,884.76 | | — | | 912,069.99 | | 2,049,600.00 | | 7,257,954.75 | | 9,307,554.75 | | (1,360,802.79 | ) | 1986 | | 30 Years | Hidden Pines | | Casselberry, FL | | 19,561.52 | | 176,307.96 | | 1,553,565.25 | | — | | 190,300.68 | | 176,307.96 | | 1,743,865.93 | | 1,920,173.89 | | (157,063.88 | ) | 1981 | | 30 Years | Hidden Valley Club | | Ann Arbor, MI | | — | | 915,000.00 | | 6,667,098.00 | | — | | 2,548,443.67 | | 915,000.00 | | 9,215,541.67 | | 10,130,541.67 | | (6,074,410.93 | ) | 1973 | | 30 Years | High Meadow | | Ellington, CT | | 4,267,130.19 | | 583,678.94 | | 3,901,774.26 | | — | | 43,394.17 | | 583,678.94 | | 3,945,168.43 | | 4,528,847.37 | | (174,233.49 | ) | 1975 | | 30 Years | High Points | | New Port Richey, FL | | — | | 222,307.63 | | 1,958,772.47 | | — | | 221,543.36 | | 222,307.63 | | 2,180,315.83 | | 2,402,623.46 | | (199,066.08 | ) | 1986 | | 30 Years | High River | | Tuscaloosa, AL (U) | | 3,572,242.97 | | 208,107.70 | | 3,663,221.04 | | — | | 258,237.68 | | 208,107.70 | | 3,921,458.72 | | 4,129,566.42 | | (333,918.26 | ) | 1978 | | 30 Years | Highland Creste | | Kent, WA | | — | | 935,200.00 | | 8,415,391.11 | | — | | 682,188.05 | | 935,200.00 | | 9,097,579.16 | | 10,032,779.16 | | (1,750,309.39 | ) | 1989 | | 30 Years | Highland Glen | | Westwood, MA | | — | | 2,832,603.49 | | 16,852,810.04 | | — | | 68,033.94 | | 2,832,603.49 | | 16,920,843.98 | | 19,753,447.47 | | (617,928.88 | ) | 1979 | | 30 Years | Highland Point | | Aurora, CO | | 9,583,518.83 | | 1,631,900.00 | | 14,684,438.62 | | — | | 895,567.42 | | 1,631,900.00 | | 15,580,006.04 | | 17,211,906.04 | | (2,726,870.17 | ) | 1984 | | 30 Years | Highline Oaks | | Denver, CO | | 7,100,000.00 | | 1,057,400.00 | | 9,683,371.61 | | — | | 819,162.25 | | 1,057,400.00 | | 10,502,533.86 | | 11,559,933.86 | | (1,896,227.75 | ) | 1986 | | 30 Years | Hillcrest Villas | | Crestview, FL | | 955,756.77 | | 141,603.03 | | 1,247,677.02 | | — | | 79,394.16 | | 141,603.03 | | 1,327,071.18 | | 1,468,674.21 | | (120,794.47 | ) | 1985 | | 30 Years | Hillside Manor | | Americus, GA | | — | | 102,632.19 | | 904,111.39 | | — | | 112,741.58 | | 102,632.19 | | 1,016,852.97 | | 1,119,485.16 | | (99,959.22 | ) | 1985 | | 30 Years | Hillside Trace | | Dade City, FL | | 1,023,881.30 | | 138,888.03 | | 1,223,754.94 | | — | | 119,507.35 | | 138,888.03 | | 1,343,262.29 | | 1,482,150.32 | | (119,415.46 | ) | 1987 | | 30 Years | Holly Ridge | | Pembroke Park, FL | | — | | 295,595.67 | | 2,603,985.01 | | — | | 278,988.01 | | 295,595.67 | | 2,882,973.02 | | 3,178,568.69 | | (237,904.48 | ) | 1986 | | 30 Years | Holly Sands I | | Ft. Walton Bch.,FL | | 1,325,081.06 | | 190,942.32 | | 1,682,524.45 | | — | | 186,547.71 | | 190,942.32 | | 1,869,072.16 | | 2,060,014.48 | | (165,233.07 | ) | 1985 | | 30 Years | Holly Sands II | | Ft. Walton Bch., FL | | 1,016,210.13 | | 124,577.52 | | 1,098,074.21 | | — | | 113,308.80 | | 124,577.52 | | 1,211,383.01 | | 1,335,960.53 | | (104,958.59 | ) | 1986 | | 30 Years | Horizon Place | | Tampa, FL | | 12,345,079.61 | | 2,128,000.00 | | 12,086,936.72 | | — | | 593,025.75 | | 2,128,000.00 | | 12,679,962.47 | | 14,807,962.47 | | (1,607,162.26 | ) | 1985 | | 30 Years | Hunt Club | | Charlotte, NC | | — | | 1,090,000.00 | | 17,992,887.39 | | — | | 380,941.36 | | 1,090,000.00 | | 18,373,828.75 | | 19,463,828.75 | | (2,203,126.69 | ) | 1990 | | 30 Years | Hunter's Green | | Fort Worth, TX | | — | | 524,300.00 | | 3,653,480.73 | | — | | 840,767.25 | | 524,300.00 | | 4,494,247.98 | | 5,018,547.98 | | (1,710,731.00 | ) | 1981 | | 30 Years | Hunters Ridge | | St. Louis, MO | | 11,220,000.00 | | 994,500.00 | | 8,913,996.59 | | — | | 877,551.12 | | 994,500.00 | | 9,791,547.71 | | 10,786,047.71 | | (1,848,301.07 | ) | 1986-1987 | | 30 Years | Huntington Park | | Everett, WA | | — | | 1,597,500.00 | | 14,367,863.91 | | — | | 1,111,610.39 | | 1,597,500.00 | | 15,479,474.30 | | 17,076,974.30 | | (4,707,269.56 | ) | 1991 | | 30 Years | Independence Village | | Reynoldsbury, OH | | — | | 226,987.89 | | 2,000,010.69 | | — | | 135,921.22 | | 226,987.89 | | 2,135,931.91 | | 2,362,919.80 | | (196,315.43 | ) | 1978 | | 30 Years | Indian Bend | | Scottsdale, AZ | | — | | 1,075,700.00 | | 9,675,133.10 | | — | | 1,576,672.20 | | 1,075,700.00 | | 11,251,805.30 | | 12,327,505.30 | | (3,551,913.44 | ) | 1973 | | 30 Years | Indian Lake I | | Morrow, GA | | — | | 839,668.51 | | 7,398,394.66 | | — | | 216,081.32 | | 839,668.51 | | 7,614,475.98 | | 8,454,144.49 | | (643,405.04 | ) | 1987 | | 30 Years | Indian Ridge I (REIT) | | Tallahassee, FL | | 912,196.87 | | 135,500.00 | | 1,218,597.92 | | — | | 26,955.01 | | 135,500.00 | | 1,245,552.93 | | 1,381,052.93 | | (47,119.44 | ) | 1981 | | 30 Years | Indian Ridge II (REIT) | | Tallahassee, FL | | 552,138.68 | | 94,300.00 | | 849,191.77 | | — | | 27,176.66 | | 94,300.00 | | 876,368.43 | | 970,668.43 | | (33,494.17 | ) | 1982 | | 30 Years | Indian Tree | | Arvada, CO | | — | | 881,225.00 | | 4,552,814.73 | | — | | 1,047,253.32 | | 881,225.00 | | 5,600,068.05 | | 6,481,293.05 | | (2,029,727.99 | ) | 1983 | | 30 Years | Indigo Springs | | Kent, WA | | 7,363,723.23 | | 1,270,500.00 | | 11,446,901.75 | | — | | 1,212,395.40 | | 1,270,500.00 | | 12,659,297.15 | | 13,929,797.15 | | (2,549,490.44 | ) | 1991 | | 30 Years | Iris Glen | | Conyers, GA | | 1,742,041.38 | | 270,458.00 | | 2,383,029.71 | | — | | 56,267.41 | | 270,458.00 | | 2,439,297.12 | | 2,709,755.12 | | (205,621.92 | ) | 1984 | | 30 Years | Ironwood at the Ranch | | Wesminster, CO | | — | | 1,493,300.00 | | 13,439,304.62 | | — | | 518,833.34 | | 1,493,300.00 | | 13,958,137.96 | | 15,451,437.96 | | (2,418,968.16 | ) | 1986 | | 30 Years | Isle at Arrowhead Ranch | | Glendale, AZ | | — | | 1,650,237.00 | | 19,593,123.35 | | — | | 248,684.20 | | 1,650,237.00 | | 19,841,807.55 | | 21,492,044.55 | | (2,887,121.22 | ) | 1996 | | 30 Years | Ivy Place | | Atlanta, GA | | — | | 802,950.00 | | 7,228,256.57 | | — | | 789,169.59 | | 802,950.00 | | 8,017,426.16 | | 8,820,376.16 | | (1,746,611.05 | ) | 1978 | | 30 Years | Jaclen Towers | | Beverly | | 2,082,529.15 | | 437,071.76 | | 2,921,735.25 | | — | | 19,335.50 | | 437,071.76 | | 2,941,070.75 | | 3,378,142.51 | | (134,333.17 | ) | 1976 | | 30 Years | James Street Crossing | | Kent, WA | | 16,379,123.00 | | 2,081,253.61 | | 18,748,337.37 | | — | | 671,740.80 | | 2,081,253.61 | | 19,420,078.17 | | 21,501,331.78 | | (2,962,359.21 | ) | 1989 | | 30 Years | Jefferson Way I | | Orange Park, FL | | 1,007,395.69 | | 147,798.72 | | 1,302,267.82 | | — | | 68,334.57 | | 147,798.72 | | 1,370,602.39 | | 1,518,401.11 | | (121,952.13 | ) | 1987 | | 30 Years | Junipers at Yarmouth | | Yarmouth, ME | | — | | 1,355,700.00 | | 7,860,134.79 | | — | | 760,790.57 | | 1,355,700.00 | | 8,620,925.36 | | 9,976,625.36 | | (1,638,590.31 | ) | 1970 | | 30 Years | Jupiter Cove I | | Jupiter, FL | | 1,590,498.00 | | 233,932.43 | | 2,060,899.62 | | — | | 232,347.90 | | 233,932.43 | | 2,293,247.52 | | 2,527,179.95 | | (201,948.87 | ) | 1987 | | 30 Years | Jupiter Cove II | | Jupiter, FL | | 1,556,210.04 | | 1,220,000.00 | | 483,833.40 | | — | | 119,395.40 | | 1,220,000.00 | | 603,228.80 | | 1,823,228.80 | | (39,603.09 | ) | 1987 | | 30 Years |
S-4
Jupiter Cove III | | Jupiter, FL | | 1,673,308.55 | | 242,009.98 | | 2,131,721.71 | | — | | 154,539.82 | | 242,009.98 | | 2,286,261.53 | | 2,528,271.51 | | (188,972.02 | ) | 1987 | | 30 Years | Kempton Downs | | Gresham, OR | | — | | 1,217,348.91 | | 10,943,371.79 | | — | | 1,307,466.23 | | 1,217,348.91 | | 12,250,838.02 | | 13,468,186.93 | | (3,369,398.79 | ) | 1990 | | 30 Years | Ketwood | | Kettering, OH | | — | | 266,443.18 | | 2,347,654.75 | | — | | 166,449.76 | | 266,443.18 | | 2,514,104.51 | | 2,780,547.69 | | (218,584.76 | ) | 1979 | | 30 Years | Keystone | | Austin, TX | | — | | 498,500.00 | | 4,487,295.31 | | — | | 893,084.06 | | 498,500.00 | | 5,380,379.37 | | 5,878,879.37 | | (1,675,480.06 | ) | 1981 | | 30 Years | Kings Colony | | Savannah, GA | | 2,023,836.37 | | 230,149.18 | | 2,027,865.07 | | — | | 152,580.47 | | 230,149.18 | | 2,180,445.54 | | 2,410,594.72 | | (194,619.43 | ) | 1987 | | 30 Years | Kingsport | | Alexandria, VA | | — | | 1,262,250.00 | | 12,479,294.10 | | — | | 1,385,461.54 | | 1,262,250.00 | | 13,864,755.64 | | 15,127,005.64 | | (3,978,382.14 | ) | 1986 | | 30 Years | Kirby Place | | Houston, TX | | (E | ) | 3,621,600.00 | | 25,896,773.53 | | — | | 473,687.67 | | 3,621,600.00 | | 26,370,461.20 | | 29,992,061.20 | | (4,049,319.32 | ) | 1994 | | 30 Years | Knox Landing | | Knoxville, TN | | 1,496,166.57 | | 158,588.62 | | 1,397,353.53 | | — | | 87,746.90 | | 158,588.62 | | 1,485,100.43 | | 1,643,689.05 | | (136,808.35 | ) | 1986 | | 30 Years | La Costa Brava (ORL) | | Orlando, FL | | — | | 206,626.00 | | 3,652,534.00 | | — | | 4,094,316.57 | | 206,626.00 | | 7,746,850.57 | | 7,953,476.57 | | (4,773,249.80 | ) | 1967 | | 30 Years | La Mariposa | | Mesa, AZ | | — | | 2,047,539.00 | | 12,466,128.12 | | — | | 691,629.68 | | 2,047,539.00 | | 13,157,757.80 | | 15,205,296.80 | | (2,083,540.10 | ) | 1986 | | 30 Years | La Mirage | | San Diego, CA | | — | | 28,895,200.00 | | 95,495,040.45 | | — | | 3,181,243.71 | | 28,895,200.00 | | 98,676,284.16 | | 127,571,484.16 | | (15,583,702.01 | ) | 1988/1992 | | 30 Years | La Mirage IV | | San Diego, CA | | — | | 6,000,000.00 | | 43,559,287.34 | | — | | 1,360.53 | | 6,000,000.00 | | 43,560,647.87 | | 49,560,647.87 | | (38.40 | ) | 2001 | | 30 Years | La Reserve | | Oro Valley, AZ | | — | | 3,264,562.00 | | 4,936,545.77 | | — | | 412,065.54 | | 3,264,562.00 | | 5,348,611.31 | | 8,613,173.31 | | (994,284.99 | ) | 1988 | | 30 Years | La Tour Fontaine | | Houston, TX | | — | | 2,916,000.00 | | 15,917,178.19 | | — | | 248,987.31 | | 2,916,000.00 | | 16,166,165.50 | | 19,082,165.50 | | (1,848,411.44 | ) | 1994 | | 30 Years | La Ventana | | Las Vegas, NV | | — | | 1,427,200.00 | | 12,844,277.03 | | — | | 426,383.58 | | 1,427,200.00 | | 13,270,660.61 | | 14,697,860.61 | | (2,277,095.17 | ) | 1989 | | 30 Years | Ladera | | Phoenix, AZ | | 9,143,923.90 | | 2,978,879.00 | | 20,640,453.27 | | — | | 291,534.66 | | 2,978,879.00 | | 20,931,987.93 | | 23,910,866.93 | | (3,020,739.37 | ) | 1995 | | 30 Years | Lake Point | | Charlotte, NC | | — | | 1,058,975.00 | | 13,587,337.70 | | — | | 334,102.50 | | 1,058,975.00 | | 13,921,440.20 | | 14,980,415.20 | | (1,705,751.21 | ) | 1984 | | 30 Years | Lakes at Vinings | | Atlanta, GA | | 21,762,913.63 | | 6,498,000.00 | | 21,832,252.08 | | — | | 1,177,814.74 | | 6,498,000.00 | | 23,010,066.82 | | 29,508,066.82 | | (3,061,926.31 | ) | 1972/1975 | | 30 Years | Lakeshore at Preston | | Plano, TX | | 12,637,778.42 | | 3,325,800.00 | | 15,208,347.74 | | — | | 427,063.74 | | 3,325,800.00 | | 15,635,411.48 | | 18,961,211.48 | | (2,045,353.70 | ) | 1992 | | 30 Years | Lakeshore I (GA) | | Ft. Oglethorpe, GA | | 1,210,396.67 | | 169,374.96 | | 1,492,377.98 | | — | | 143,385.62 | | 169,374.96 | | 1,635,763.60 | | 1,805,138.56 | | (166,233.24 | ) | 1986 | | 30 Years | Lakeview | | Lodi, CA | | 7,286,000.00 | | 950,000.00 | | 4,881,263.25 | | — | | 34,424.83 | | 950,000.00 | | 4,915,688.08 | | 5,865,688.08 | | (116,116.86 | ) | 1983 | | 30 Years | Lakeville Resort | | Petaluma, CA | | — | | 2,736,500.00 | | 24,610,650.73 | | — | | 1,754,973.74 | | 2,736,500.00 | | 26,365,624.47 | | 29,102,124.47 | | (5,325,169.30 | ) | 1984 | | 30 Years | Lakewood | | Tulsa, OK | | 5,600,000.00 | | 855,000.00 | | 6,160,787.53 | | — | | 44,493.25 | | 855,000.00 | | 6,205,280.78 | | 7,060,280.78 | | (141,539.62 | ) | 1985 | | 30 Years | Lakewood Greens | | Dallas, TX | | 8,110,593.29 | | 2,019,600.00 | | 9,026,906.66 | | — | | 365,185.74 | | 2,019,600.00 | | 9,392,092.40 | | 11,411,692.40 | | (1,320,744.11 | ) | 1986 | | 30 Years | Lakewood Oaks | | Dallas, TX | | — | | 1,631,600.00 | | 14,686,191.51 | | — | | 1,300,315.04 | | 1,631,600.00 | | 15,986,506.55 | | 17,618,106.55 | | (4,593,423.61 | ) | 1987 | | 30 Years | Landera | | San Antonio, TX | | — | | 766,300.00 | | 6,896,811.43 | | — | | 654,918.51 | | 766,300.00 | | 7,551,729.94 | | 8,318,029.94 | | (1,437,156.90 | ) | 1983 | | 30 Years | Landings (FL), The | | Winterhaven, FL | | 689,217.37 | | 130,953.32 | | 1,153,841.50 | | — | | 158,456.19 | | 130,953.32 | | 1,312,297.69 | | 1,443,251.01 | | (120,679.15 | ) | 1984 | | 30 Years | Landings (TN) | | Memphis, TN | | — | | 1,314,000.00 | | 14,090,108.94 | | — | | 521,887.43 | | 1,314,000.00 | | 14,611,996.37 | | 15,925,996.37 | | (1,783,526.51 | ) | 1986 | | 30 Years | Landings at Port Imperial | | W. New York, NJ | | — | | 27,246,045.14 | | 37,741,049.53 | | — | | 29,315.42 | | 27,246,045.14 | | 37,770,364.95 | | 65,016,410.09 | | (1,386,583.75 | ) | 1999 | | 30 Years | Lantern Cove | | Foster City, CA | | 36,403,000.00 | | 6,945,000.00 | | 18,505,343.02 | | — | | 107,112.35 | | 6,945,000.00 | | 18,612,455.37 | | 25,557,455.37 | | (367,849.36 | ) | 1985 | | 30 Years | Larkspur I (Hil) | | Hillard, OH | | — | | 179,628.06 | | 1,582,518.99 | | — | | 168,858.07 | | 179,628.06 | | 1,751,377.06 | | 1,931,005.12 | | (149,104.73 | ) | 1983 | | 30 Years | Larkspur Shores | | Hillard, OH | | — | | 17,107,300.00 | | 31,399,237.02 | | — | | 2,974,249.02 | | 17,107,300.00 | | 34,373,486.04 | | 51,480,786.04 | | (4,628,115.49 | ) | 1983 | | 30 Years | Larkspur Woods | | Sacramento, CA | | (E | ) | 5,802,900.00 | | 14,576,106.49 | | — | | 605,705.14 | | 5,802,900.00 | | 15,181,811.63 | | 20,984,711.63 | | (2,441,773.83 | ) | 1989/1993 | | 30 Years | Laurel Bay | | Ypsilanti, MI | | — | | 186,003.87 | | 1,639,365.78 | | — | | 39,347.00 | | 186,003.87 | | 1,678,712.78 | | 1,864,716.65 | | (139,661.24 | ) | 1989 | | 30 Years | Laurel Gardens | | Coral Springs, FL | | — | | 4,800,000.00 | | 25,942,631.08 | | — | | 760,404.56 | | 4,800,000.00 | | 26,703,035.64 | | 31,503,035.64 | | (3,192,240.82 | ) | 1989 | | 30 Years | Laurel Glen | | Acworth, GA | | 1,666,581.75 | | 289,509.11 | | 2,550,890.77 | | — | | 64,216.56 | | 289,509.11 | | 2,615,107.33 | | 2,904,616.44 | | (217,909.62 | ) | 1986 | | 30 Years | Laurel Ridge | | Chapel Hill, NC | | — | | 182,550.75 | | 3,206,076.00 | | — | | 2,079,015.27 | | 182,550.75 | | 5,285,091.27 | | 5,467,642.02 | | (3,387,495.24 | ) | 1975 | | 30 Years | Legends at Preston | | Morrisville, NC | | — | | 3,056,000.00 | | 27,150,720.51 | | — | | 34,117.26 | | 3,056,000.00 | | 27,184,837.77 | | 30,240,837.77 | | (851,680.41 | ) | 2000 | | 30 Years | Lexington Farm | | Alpharetta, GA | | 18,021,192.71 | | 3,521,900.00 | | 21,449,708.40 | | — | | 431,235.65 | | 3,521,900.00 | | 21,880,944.05 | | 25,402,844.05 | | (2,754,631.74 | ) | 1995 | | 30 Years | Lexington Glen | | Atlanta, GA | | — | | 5,760,000.00 | | 40,190,507.44 | | — | | 936,965.35 | | 5,760,000.00 | | 41,127,472.79 | | 46,887,472.79 | | (4,714,652.18 | ) | 1990 | | 30 Years | Lexington Park | | Orlando, FL | | — | | 2,016,000.00 | | 12,346,725.62 | | — | | 798,368.48 | | 2,016,000.00 | | 13,145,094.10 | | 15,161,094.10 | | (1,637,340.28 | ) | 1988 | | 30 Years | Lincoln Green I | | San Antonio, TX | | — | | 947,366.00 | | 5,876,614.69 | | — | | 572,272.74 | | 947,366.00 | | 6,448,887.43 | | 7,396,253.43 | | (3,818,970.82 | ) | 1984/1986 | | 30 Years | Lincoln Green II | | San Antonio, TX | | — | | 1,052,340.00 | | 5,218,545.96 | | — | | 1,178,645.53 | | 1,052,340.00 | | 6,397,191.49 | | 7,449,531.49 | | (3,322,929.49 | ) | 1984/1986 | | 30 Years | Lincoln Green III | | San Antonio, TX | | 3,510,000.00 | | 536,010.00 | | 1,830,435.35 | | — | | 444,695.93 | | 536,010.00 | | 2,275,131.28 | | 2,811,141.28 | | (1,220,277.46 | ) | 1984/1986 | | 30 Years | Lincoln Heights | | Quincy, MA | | 20,536,053.18 | | 5,928,400.00 | | 33,595,261.97 | | — | | 559,220.45 | | 5,928,400.00 | | 34,154,482.42 | | 40,082,882.42 | | (4,911,196.62 | ) | 1991 | | 30 Years | Lindendale | | Columbus, OH | | 1,334,608.90 | | 209,158.53 | | 1,842,815.57 | | — | | 154,849.56 | | 209,158.53 | | 1,997,665.13 | | 2,206,823.66 | | (173,705.60 | ) | 1987 | | 30 Years | Link Terrace | | Hinesville, GA | | 866,681.49 | | 121,838.57 | | 1,073,580.55 | | — | | 91,847.77 | | 121,838.57 | | 1,165,428.32 | | 1,287,266.89 | | (105,511.54 | ) | 1984 | | 30 Years | Little Cottonwoods | | Tempe, AZ | | — | | 3,050,133.00 | | 26,991,689.47 | | — | | 883,770.19 | | 3,050,133.00 | | 27,875,459.66 | | 30,925,592.66 | | (4,140,097.81 | ) | 1984 | | 30 Years | Lodge (OK), The | | Tulsa, OK | | — | | 313,371.00 | | 2,750,936.00 | | — | | 1,583,499.28 | | 313,371.00 | | 4,334,435.28 | | 4,647,806.28 | | (2,954,074.92 | ) | 1979 | | 30 Years | Lodge (TX), The | | San Antonio, TX | | — | | 1,363,636.00 | | 7,464,586.00 | | — | | 2,351,691.15 | | 1,363,636.00 | | 9,816,277.15 | | 11,179,913.15 | | (4,702,464.27 | ) | 1979(#) | | 30 Years | Lofton Place | | Tampa, FL | | — | | 2,240,000.00 | | 16,679,214.01 | | — | | 767,302.08 | | 2,240,000.00 | | 17,446,516.09 | | 19,686,516.09 | | (2,141,191.41 | ) | 1988 | | 30 Years | Longfellow Glen | | Sudbury, MA | | 4,863,183.82 | | 1,094,273.45 | | 7,314,994.04 | | — | | 164,710.98 | | 1,094,273.45 | | 7,479,705.02 | | 8,573,978.47 | | (314,954.33 | ) | 1984 | | 30 Years |
S-5
EQUITY RESIDENTIAL PROPERTIES TRUST
Schedule III — Real Estate and Accumulated Depreciation
December 31, 2001
| |
| |
| | Initial Cost to Company
| | Cost Capitalized Subsequent to (Improvements, net) (H)
| | Gross Amount Carried at Close of Period 12/31/01
| |
|
---|
Description
| |
| | Life Used to Compute Depreciation in Latest Income Statement (C)
|
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Apartment Name
| | Location
| | Encumbrances
| | Land
| | Building & Fixtures
| | Land
| | Building & Fixtures
| | Land
| | Building & Fixtures (A)
| | Total (B)
| | Accumulated Depreciation
| | Date of Construction
|
---|
Longfellow Place | | Boston, MA (T) | | — | | 53,164,160.00 | | 183,940,618.58 | | — | | 6,650,987.48 | | 53,164,160.00 | | 190,591,606.06 | | 243,755,766.06 | | (16,102,637.27 | ) | 1975 | | 30 Years | Longwood | | Decatur, GA | | — | | 1,454,048.00 | | 13,087,837.00 | | — | | 622,586.87 | | 1,454,048.00 | | 13,710,423.87 | | 15,164,471.87 | | (3,984,430.24 | ) | 1992 | | 30 Years | Longwood (KY) | | Lexington,KY | | 912,582.23 | | 146,309.02 | | 1,289,041.95 | | — | | 99,195.63 | | 146,309.02 | | 1,388,237.58 | | 1,534,546.60 | | (122,287.23 | ) | 1985 | | 30 Years | Loomis Manor | | West Hartford, CT | | 1,768,351.00 | | 422,350.36 | | 2,823,325.73 | | — | | 44,547.47 | | 422,350.36 | | 2,867,873.20 | | 3,290,223.56 | | (122,619.79 | ) | 1948 | | 30 Years | Madison at Cedar Springs | | Dallas, TX | | 15,672,076.39 | | 2,470,000.00 | | 33,194,620.41 | | — | | 314,308.07 | | 2,470,000.00 | | 33,508,928.48 | | 35,978,928.48 | | (3,810,677.81 | ) | 1995 | | 30 Years | Madison at Chase Oaks | | Plano, TX | | — | | 3,055,000.00 | | 28,932,884.84 | | — | | 487,497.99 | | 3,055,000.00 | | 29,420,382.83 | | 32,475,382.83 | | (3,459,987.96 | ) | 1995 | | 30 Years | Madison at River Sound | | Lawrenceville, GA | | — | | 3,666,999.30 | | 47,387,106.44 | | — | | 274,849.26 | | 3,666,999.30 | | 47,661,955.70 | | 51,328,955.00 | | (5,455,446.48 | ) | 1996 | | 30 Years | Madison at Round Grove | | Lewisville, TX | | 10,552,968.30 | | 2,626,000.00 | | 25,682,373.18 | | — | | 410,231.19 | | 2,626,000.00 | | 26,092,604.37 | | 28,718,604.37 | | (3,083,267.46 | ) | 1995 | | 30 Years | Madison at Scofield Farms | | Austin, TX | | 12,747,524.72 | | 2,080,000.00 | | 14,597,971.03 | | — | | 457,178.34 | | 2,080,000.00 | | 15,055,149.37 | | 17,135,149.37 | | (722,710.45 | ) | 1996 | | 30 Years | Madison at Stone Creek | | Austin, TX | | — | | 2,535,000.00 | | 22,611,699.63 | | — | | 701,912.41 | | 2,535,000.00 | | 23,313,612.04 | | 25,848,612.04 | | (2,755,864.17 | ) | 1995 | | 30 Years | Madison at the Arboretum | | Austin, TX | | — | | 1,046,500.00 | | 9,638,268.79 | | — | | 465,265.89 | | 1,046,500.00 | | 10,103,534.68 | | 11,150,034.68 | | (1,227,354.83 | ) | 1995 | | 30 Years | Madison at Walnut Creek | | Austin, TX | | (E | ) | 2,737,600.00 | | 14,623,573.62 | | — | | 730,601.24 | | 2,737,600.00 | | 15,354,174.86 | | 18,091,774.86 | | (2,481,123.40 | ) | 1994 | | 30 Years | Madison at Wells Branch | | Austin, TX | | 13,838,387.25 | | 2,400,000.00 | | 16,370,878.87 | | — | | 590,261.65 | | 2,400,000.00 | | 16,961,140.52 | | 19,361,140.52 | | (820,888.89 | ) | 1995 | | 30 Years | Madison on Melrose | | Richardson, TX | | — | | 1,300,000.00 | | 15,096,550.79 | | — | | 248,598.21 | | 1,300,000.00 | | 15,345,149.00 | | 16,645,149.00 | | (1,769,382.57 | ) | 1995 | | 30 Years | Madison on the Parkway | | Dallas, TX | | — | | 2,444,000.00 | | 22,505,043.24 | | — | | 463,448.56 | | 2,444,000.00 | | 22,968,491.80 | | 25,412,491.80 | | (2,705,165.27 | ) | 1995 | | 30 Years | Mallard Cove | | Greenville, SC | | — | | 813,350.00 | | 7,321,951.26 | | — | | 1,046,144.60 | | 813,350.00 | | 8,368,095.86 | | 9,181,445.86 | | (2,029,093.11 | ) | 1983 | | 30 Years | Mallard Cove at Conway | | Orlando, FL | | — | | 600,000.00 | | 3,528,927.00 | | — | | 4,289,487.96 | | 600,000.00 | | 7,818,414.96 | | 8,418,414.96 | | (5,747,065.05 | ) | 1974 | | 30 Years | Mallgate | | Louisville, KY | | — | | — | | 6,702,515.00 | | — | | 4,900,891.49 | | — | | 11,603,406.49 | | 11,603,406.49 | | (8,807,285.54 | ) | 1969 | | 30 Years | Manchester (REIT) | | Jacksonville, Fl | | 1,262,548.28 | | 184,100.00 | | 1,657,193.63 | | — | | 35,859.07 | | 184,100.00 | | 1,693,052.70 | | 1,877,152.70 | | (62,491.82 | ) | 1985 | | 30 Years | Marabou Mills I | | Indianpolis, IN | | 1,365,313.18 | | 224,177.96 | | 1,974,952.13 | | — | | 147,346.04 | | 224,177.96 | | 2,122,298.17 | | 2,346,476.13 | | (191,617.55 | ) | 1986 | | 30 Years | Marabou Mills II | | Indianpolis, IN | | — | | 192,186.25 | | 1,693,220.33 | | — | | 88,819.32 | | 192,186.25 | | 1,782,039.65 | | 1,974,225.90 | | (156,128.79 | ) | 1987 | | 30 Years | Marabou Mills III | | Indianpolis, IN | | 1,152,533.53 | | 171,556.72 | | 1,511,601.62 | | — | | 74,681.52 | | 171,556.72 | | 1,586,283.14 | | 1,757,839.86 | | (136,607.32 | ) | 1987 | | 30 Years | Mariner Club (FL) | | Pembroke Pines, FL | | 9,309,240.43 | | 1,824,500.00 | | 20,771,566.44 | | — | | 408,833.84 | | 1,824,500.00 | | 21,180,400.28 | | 23,004,900.28 | | (2,512,989.83 | ) | 1988 | | 30 Years | Mariners Wharf | | Orange Park, FL | | — | | 1,861,200.00 | | 16,744,951.02 | | — | | 406,005.35 | | 1,861,200.00 | | 17,150,956.37 | | 19,012,156.37 | | (2,711,100.95 | ) | 1989 | | 30 Years | Mark Landing I | | Miami, FL | | 1,280,381.26 | | 191,985.73 | | 1,691,253.52 | | — | | 59,155.57 | | 191,985.73 | | 1,750,409.09 | | 1,942,394.82 | | (148,926.52 | ) | 1987 | | 30 Years | Marks | | Englewood, CO (T) | | 20,215,000.00 | | 4,928,500.00 | | 44,621,813.77 | | — | | 1,624,346.04 | | 4,928,500.00 | | 46,246,159.81 | | 51,174,659.81 | | (7,873,640.51 | ) | 1987 | | 30 Years | Marquessa | | Corona Hills, CA | | (R | ) | 6,888,500.00 | | 21,604,583.64 | | — | | 828,040.53 | | 6,888,500.00 | | 22,432,624.17 | | 29,321,124.17 | | (3,504,292.06 | ) | 1992 | | 30 Years | Marsh Landing I | | Brunswick, GA | | — | | 133,192.75 | | 1,173,573.30 | | — | | 160,327.69 | | 133,192.75 | | 1,333,900.99 | | 1,467,093.74 | | (122,557.91 | ) | 1984 | | 30 Years | Marshlanding II | | Brunswick, GA | | 927,306.51 | | 111,187.09 | | 979,679.39 | | — | | 102,618.07 | | 111,187.09 | | 1,082,297.46 | | 1,193,484.55 | | (99,922.68 | ) | 1986 | | 30 Years | Martha Lake | | Lynnwood, WA | | — | | 821,200.00 | | 7,405,070.49 | | — | | 962,749.10 | | 821,200.00 | | 8,367,819.59 | | 9,189,019.59 | | (1,437,073.90 | ) | 1991 | | 30 Years | Martins Landing | | Roswell, GA | | 12,433,225.00 | | 4,802,000.00 | | 12,899,971.68 | | — | | 838,194.58 | | 4,802,000.00 | | 13,738,166.26 | | 18,540,166.26 | | (1,853,511.73 | ) | 1972 | | 30 Years | McDowell Place | | Naperville, IL | | 14,985,079.01 | | 2,580,400.00 | | 23,209,628.88 | | — | | 1,299,859.12 | | 2,580,400.00 | | 24,509,488.00 | | 27,089,888.00 | | (4,924,499.58 | ) | 1988 | | 30 Years | Meadow Ridge | | Norwich, CT | | 4,472,657.61 | | 747,956.65 | | 4,999,937.12 | | — | | 55,148.05 | | 747,956.65 | | 5,055,085.17 | | 5,803,041.82 | | (221,314.97 | ) | 1987 | | 30 Years | Meadowland | | Bogart, GA | | — | | 152,394.70 | | 1,342,663.37 | | — | | 41,265.26 | | 152,394.70 | | 1,383,928.63 | | 1,536,323.33 | | (120,205.25 | ) | 1984 | | 30 Years | Meadowood (Cin) | | Cincinnati, OH | | — | | 330,734.47 | | 2,913,731.09 | | — | | 132,672.64 | | 330,734.47 | | 3,046,403.73 | | 3,377,138.20 | | (257,129.98 | ) | 1985 | | 30 Years | Meadowood (Cuy) | | Cuyahoga Falls, OH | | 1,240,053.16 | | 201,406.59 | | 1,774,784.23 | | — | | 122,690.88 | | 201,406.59 | | 1,897,475.11 | | 2,098,881.70 | | (154,435.63 | ) | 1985 | | 30 Years | Meadowood (Fra) | | Franklin, IN | | 987,833.77 | | 129,251.57 | | 1,138,733.20 | | — | | 95,144.61 | | 129,251.57 | | 1,233,877.81 | | 1,363,129.38 | | (113,427.50 | ) | 1983 | | 30 Years | Meadowood (New) | | Newburgh, IN | | 952,926.76 | | 131,546.01 | | 1,159,063.71 | | — | | 66,367.80 | | 131,546.01 | | 1,225,431.51 | | 1,356,977.52 | | (111,653.21 | ) | 1984 | | 30 Years | Meadowood (Nic) | | Nicholasville, KY | | 1,368,327.43 | | 173,222.98 | | 1,526,283.21 | | — | | 130,305.62 | | 173,222.98 | | 1,656,588.83 | | 1,829,811.81 | | (146,187.15 | ) | 1983 | | 30 Years | Meadowood (OH) | | Flatwoods, KY | | 842,082.89 | | 96,349.54 | | 848,944.48 | | — | | 76,867.50 | | 96,349.54 | | 925,811.98 | | 1,022,161.52 | | (82,444.33 | ) | 1983 | | 30 Years | Meadowood (Tem) | | Temperance, MI | | 1,301,920.11 | | 173,674.59 | | 1,530,262.41 | | — | | 32,332.74 | | 173,674.59 | | 1,562,595.15 | | 1,736,269.74 | | (130,323.74 | ) | 1984 | | 30 Years | Meadowood (Wel) | | Wellsville, OH | | — | | 58,570.28 | | 516,067.98 | | — | | 43,059.52 | | 58,570.28 | | 559,127.50 | | 617,697.78 | | (53,380.39 | ) | 1986 | | 30 Years | Meadowood Apts. (Man) | | Mansfield, OH | | 909,059.75 | | 118,504.27 | | 1,044,001.75 | | — | | 126,692.89 | | 118,504.27 | | 1,170,694.64 | | 1,289,198.91 | | (101,091.61 | ) | 1983 | | 30 Years | Meadowood I (GA) | | Norcross, GA | | — | | 205,467.55 | | 1,810,393.05 | | — | | 100,365.70 | | 205,467.55 | | 1,910,758.75 | | 2,116,226.30 | | (157,715.80 | ) | 1982 | | 30 Years | Meadowood I (MI) | | Jackson, MI | | 920,691.19 | | 146,207.88 | | 1,288,500.74 | | — | | 61,708.44 | | 146,207.88 | | 1,350,209.18 | | 1,496,417.06 | | (111,627.03 | ) | 1983 | | 30 Years | Meadowood I (OH) | | Columbus, OH | | — | | 146,912.36 | | 1,294,457.97 | | — | | 172,970.52 | | 146,912.36 | | 1,467,428.49 | | 1,614,340.85 | | (141,197.86 | ) | 1984 | | 30 Years | Meadowood II (FL) | | Altamonte Springs, FL | | 793,663.28 | | 160,366.67 | | 1,413,005.15 | | — | | 45,070.84 | | 160,366.67 | | 1,458,075.99 | | 1,618,442.66 | | (123,605.69 | ) | 1980 | | 30 Years | Meadowood II (GA) | | Norcross, GA | | — | | 176,968.08 | | 1,559,544.46 | | — | | 96,869.56 | | 176,968.08 | | 1,656,414.02 | | 1,833,382.10 | | (138,369.68 | ) | 1984 | | 30 Years | Meadowood II (OH) | | Columbus, OH | | 472,665.35 | | 57,801.92 | | 509,198.89 | | — | | 71,309.14 | | 57,801.92 | | 580,508.03 | | 638,309.95 | | (54,615.08 | ) | 1985 | | 30 Years | Meadows I (OH), The | | Columbus, OH | | 756,797.37 | | 150,800.30 | | 1,328,616.01 | | — | | 125,788.98 | | 150,800.30 | | 1,454,404.99 | | 1,605,205.29 | | (131,365.92 | ) | 1985 | | 30 Years | Meadows II (OH), The | | Columbus, OH | | 1,134,461.91 | | 186,636.48 | | 1,644,520.78 | | — | | 121,951.00 | | 186,636.48 | | 1,766,471.78 | | 1,953,108.26 | | (154,267.71 | ) | 1987 | | 30 Years | Meadows in the Park | | Birmingham, AL | | — | | 1,000,900.00 | | 8,533,099.29 | | — | | 456,234.18 | | 1,000,900.00 | | 8,989,333.47 | | 9,990,233.47 | | (1,486,033.71 | ) | 1986 | | 30 Years | Meadows on the Lake | | Birmingham, AL | | — | | 1,000,900.00 | | 8,515,348.35 | | — | | 343,715.53 | | 1,000,900.00 | | 8,859,063.88 | | 9,859,963.88 | | (1,403,539.67 | ) | 1987 | | 30 Years | Meldon Place | | Toledo, OH | | 2,331,026.09 | | 288,433.76 | | 2,541,700.52 | | — | | 402,025.26 | | 288,433.76 | | 2,943,725.78 | | 3,232,159.54 | | (284,571.79 | ) | 1978 | | 30 Years | Merrifield | | Salisbury, MD | | 1,978,084.32 | | 268,711.88 | | 2,367,644.55 | | — | | 93,784.52 | | 268,711.88 | | 2,461,429.07 | | 2,730,140.95 | | (207,140.42 | ) | 1988 | | 30 Years | Merrill Creek | | Lakewood, WA | | — | | 814,200.00 | | 7,330,605.66 | | — | | 268,243.15 | | 814,200.00 | | 7,598,848.81 | | 8,413,048.81 | | (1,307,316.60 | ) | 1994 | | 30 Years | Merrimac Woods | | Costa Mesa, CA | | — | | 675,700.00 | | 6,081,676.67 | | — | | 691,668.88 | | 675,700.00 | | 6,773,345.55 | | 7,449,045.55 | | (1,445,819.97 | ) | 1970 | | 30 Years | Merritt at Satellite Place | | Duluth, GA | | — | | 3,400,000.00 | | 30,115,674.42 | | — | | 87,898.92 | | 3,400,000.00 | | 30,203,573.34 | | 33,603,573.34 | | (2,418,722.24 | ) | 1999 | | 30 Years | Mesa Del Oso | | Albuquerque, NM | | 10,961,721.58 | | 4,305,000.00 | | 12,057,358.28 | | — | | 76,483.36 | | 4,305,000.00 | | 12,133,841.64 | | 16,438,841.64 | | (257,589.99 | ) | 1983 | | 30 Years | Miguel Place | | Port Richey, FL | | 1,438,948.19 | | 199,349.05 | | 1,756,482.38 | | — | | 178,218.53 | | 199,349.05 | | 1,934,700.91 | | 2,134,049.96 | | (175,708.51 | ) | 1987 | | 30 Years | Mill Pond | | Millersville, MD | | 7,641,784.38 | | 2,880,000.00 | | 8,950,400.03 | | — | | 492,966.01 | | 2,880,000.00 | | 9,443,366.04 | | 12,323,366.04 | | (1,125,368.28 | ) | 1984 | | 30 Years | Mill Village | | Randolph, MA | | 12,560,000.00 | | 6,185,300.00 | | 13,191,505.89 | | — | | 1,069,133.28 | | 6,185,300.00 | | 14,260,639.17 | | 20,445,939.17 | | (2,279,117.81 | ) | 1971/1977 | | 30 Years | Millburn | | Stow, OH | | 159,019.31 | | 192,062.04 | | 1,692,275.85 | | — | | 49,810.72 | | 192,062.04 | | 1,742,086.57 | | 1,934,148.61 | | (144,501.20 | ) | 1984 | | 30 Years | Millburn Court I | | Centerville, OH | | — | | 260,000.00 | | 1,246,756.52 | | — | | 40,997.35 | | 260,000.00 | | 1,287,753.87 | | 1,547,753.87 | | (60,009.37 | ) | 1979 | | 30 Years | Millburn Court II | | Centerville, OH | | 887,381.81 | | 122,870.44 | | 1,082,697.52 | | — | | 170,311.88 | | 122,870.44 | | 1,253,009.40 | | 1,375,879.84 | | (119,889.72 | ) | 1981 | | 30 Years | Mission Bay | | Orlando, FL | | — | | 2,432,000.00 | | 21,623,560.46 | | — | | 409,674.63 | | 2,432,000.00 | | 22,033,235.09 | | 24,465,235.09 | | (2,603,436.19 | ) | 1991 | | 30 Years | Mission Hills | | Oceanside, CA | | 10,416,347.64 | | 5,640,000.00 | | 21,130,732.38 | | — | | 143,667.98 | | 5,640,000.00 | | 21,274,400.36 | | 26,914,400.36 | | (644,636.96 | ) | 1984 | | 30 Years | Misty Woods | | Cary, NC | | — | | 720,790.00 | | 18,063,934.26 | | — | | 1,650,965.27 | | 720,790.00 | | 19,714,899.53 | | 20,435,689.53 | | (2,631,197.60 | ) | 1984 | | 30 Years |
S-6
Montecito | | Valencia, CA | | — | | 8,400,000.00 | | 24,709,145.69 | | — | | 133,577.15 | | 8,400,000.00 | | 24,842,722.84 | | 33,242,722.84 | | (885,862.61 | ) | 1999 | | 30 Years | Montgomery Court I (MI) | | Haslett, MI | | 1,179,149.16 | | 156,297.73 | | 1,377,153.31 | | — | | 133,893.22 | | 156,297.73 | | 1,511,046.53 | | 1,667,344.26 | | (130,746.31 | ) | 1984 | | 30 Years | Montgomery Court I (OH) | | Dublin, OH | | 1,250,671.79 | | 163,755.09 | | 1,442,642.83 | | — | | 204,344.65 | | 163,755.09 | | 1,646,987.48 | | 1,810,742.57 | | (148,706.86 | ) | 1985 | | 30 Years | Montgomery Court II (OH) | | Dublin, OH | | — | | 149,733.82 | | 1,319,417.16 | | — | | 113,880.66 | | 149,733.82 | | 1,433,297.82 | | 1,583,031.64 | | (121,238.11 | ) | 1986 | | 30 Years | Montierra | | Scottsdale, AZ | | — | | 3,455,000.00 | | 17,266,786.53 | | — | | 127,547.33 | | 3,455,000.00 | | 17,394,333.86 | | 20,849,333.86 | | (1,719,410.21 | ) | 1999 | | 30 Years | Montrose Square | | Columbus, OH | | — | | 193,266.04 | | 1,703,260.43 | | — | | 271,170.07 | | 193,266.04 | | 1,974,430.50 | | 2,167,696.54 | | (190,880.39 | ) | 1987 | | 30 Years | Morgan Trace | | Union City, GA | | 1,386,691.30 | | 239,102.45 | | 2,105,728.19 | | — | | 94,361.15 | | 239,102.45 | | 2,200,089.34 | | 2,439,191.79 | | (190,450.72 | ) | 1986 | | 30 Years | Morningside | | Scottsdale, AZ | | — | | 670,470.00 | | 12,607,976.02 | | — | | 381,813.99 | | 670,470.00 | | 12,989,790.01 | | 13,660,260.01 | | (1,920,500.35 | ) | 1989 | | 30 Years | Morningside (FL) | | Titusville, FL | | — | | 197,889.52 | | 1,743,622.33 | | — | | 382,147.30 | | 197,889.52 | | 2,125,769.63 | | 2,323,659.15 | | (224,437.30 | ) | 1984 | | 30 Years | Mosswood I | | Winter Springs, FL | | 757,050.19 | | 163,293.72 | | 1,438,795.64 | | — | | 104,046.87 | | 163,293.72 | | 1,542,842.51 | | 1,706,136.23 | | (136,265.14 | ) | 1981 | | 30 Years | Mosswood II | | Winter Springs, FL | | 1,505,917.07 | | 275,329.91 | | 2,426,157.56 | | — | | 96,016.92 | | 275,329.91 | | 2,522,174.48 | | 2,797,504.39 | | (215,755.29 | ) | 1982 | | 30 Years | Mountain Park Ranch | | Phoenix, AZ | | (M | ) | 1,662,332.00 | | 18,260,275.87 | | — | | 522,439.47 | | 1,662,332.00 | | 18,782,715.34 | | 20,445,047.34 | | (2,849,683.80 | ) | 1994 | | 30 Years | Mountain Run | | Albuquerque, NM | | — | | 2,304,000.00 | | 20,734,818.06 | | — | | 1,040,173.35 | | 2,304,000.00 | | 21,774,991.41 | | 24,078,991.41 | | (4,031,188.32 | ) | 1985 | | 30 Years | Mountain Terrace | | Stevenson Ranch, CA | | — | | 3,966,500.00 | | 35,814,994.74 | | — | | 765,112.59 | | 3,966,500.00 | | 36,580,107.33 | | 40,546,607.33 | | (6,780,075.59 | ) | 1992 | | 30 Years | Nehoiden Glen | | Needham, MA | | 2,342,858.68 | | 634,537.73 | | 4,241,754.83 | | — | | 36,958.60 | | 634,537.73 | | 4,278,713.43 | | 4,913,251.16 | | (179,534.32 | ) | 1978 | | 30 Years | Newberry I | | Lansing, MI | | 1,103,255.33 | | 183,508.91 | | 1,616,913.48 | | — | | 136,021.66 | | 183,508.91 | | 1,752,935.14 | | 1,936,444.05 | | (156,503.94 | ) | 1985 | | 30 Years | Newberry II | | Lansing, MI | | 1,174,665.78 | | 142,292.43 | | 1,253,951.34 | | — | | 93,154.14 | | 142,292.43 | | 1,347,105.48 | | 1,489,397.91 | | (120,028.98 | ) | 1986 | | 30 Years | Newport Heights | | Tukwila, WA | | — | | 391,200.00 | | 3,522,780.07 | | — | | 521,129.87 | | 391,200.00 | | 4,043,909.94 | | 4,435,109.94 | | (1,192,201.83 | ) | 1985 | | 30 Years | Noonan Glen | | Winchester, MA | | 577,319.95 | | 151,343.51 | | 1,011,700.36 | | — | | 54,550.80 | | 151,343.51 | | 1,066,251.16 | | 1,217,594.67 | | (44,431.43 | ) | 1983 | | 30 Years | North Creek (Everett) | | Evertt, WA | | — | | 3,967,500.00 | | 12,387,189.94 | | — | | 567,690.51 | | 3,967,500.00 | | 12,954,880.45 | | 16,922,380.45 | | (1,693,071.20 | ) | 1986 | | 30 Years | North Hill | | Atlanta, GA | | 15,628,982.39 | | 2,525,300.00 | | 18,550,989.31 | | — | | 4,122,828.85 | | 2,525,300.00 | | 22,673,818.16 | | 25,199,118.16 | | (4,868,926.13 | ) | 1984 | | 30 Years | Northampton 1 | | Largo, MD | | 19,950,834.63 | | 1,843,200.00 | | 17,528,380.75 | | — | | 2,462,983.47 | | 1,843,200.00 | | 19,991,364.22 | | 21,834,564.22 | | (6,346,762.53 | ) | 1977 | | 30 Years | Northampton 2 | | Largo, MD | | — | | 1,513,500.00 | | 14,246,990.27 | | — | | 986,159.49 | | 1,513,500.00 | | 15,233,149.76 | | 16,746,649.76 | | (4,201,568.36 | ) | 1988 | | 30 Years | Northgate Village | | San Antonio, TX | | — | | 660,100.00 | | 5,974,145.35 | | — | | 1,055,488.17 | | 660,100.00 | | 7,029,633.52 | | 7,689,733.52 | | (2,492,175.49 | ) | 1984 | | 30 Years | Northglen | | Valencia, CA | | 15,193,319.49 | | 9,360,000.00 | | 20,778,552.71 | | — | | 158,247.48 | | 9,360,000.00 | | 20,936,800.19 | | 30,296,800.19 | | (762,136.87 | ) | 1988 | | 30 Years | Northridge | | Pleasant Hill, CA | | — | | 5,527,800.00 | | 14,691,704.52 | | — | | 863,730.21 | | 5,527,800.00 | | 15,555,434.73 | | 21,083,234.73 | | (2,201,058.01 | ) | 1974 | | 30 Years | Northridge (GA) | | Carrolton, GA | | — | | 238,810.55 | | 2,104,181.16 | | — | | 84,460.96 | | 238,810.55 | | 2,188,642.12 | | 2,427,452.67 | | (188,599.63 | ) | 1985 | | 30 Years | Northrup Court I | | Coraopolis, PA | | 1,343,152.35 | | 189,245.89 | | 1,667,462.56 | | — | | 111,976.62 | | 189,245.89 | | 1,779,439.18 | | 1,968,685.07 | | (150,029.76 | ) | 1985 | | 30 Years | Northrup Court II | | Coraopolis, PA | | 852,912.68 | | 157,190.30 | | 1,385,017.88 | | — | | 83,389.45 | | 157,190.30 | | 1,468,407.33 | | 1,625,597.63 | | (127,171.60 | ) | 1985 | | 30 Years | Northwoods Village | | Cary, NC | | (E | ) | 1,369,700.00 | | 11,460,336.89 | | — | | 1,054,730.46 | | 1,369,700.00 | | 12,515,067.35 | | 13,884,767.35 | | (2,168,945.56 | ) | 1986 | | 30 Years | Norton Glen | | Norton, MA | | 4,800,960.60 | | 1,012,555.59 | | 6,768,726.88 | | — | | 108,143.63 | | 1,012,555.59 | | 6,876,870.51 | | 7,889,426.10 | | (298,571.10 | ) | 1983 | | 30 Years | Nova Glen I | | Daytona Beach, FL | | — | | 142,085.70 | | 1,251,929.83 | | — | | 221,526.14 | | 142,085.70 | | 1,473,455.97 | | 1,615,541.67 | | (136,025.03 | ) | 1984 | | 30 Years | Nova Glen II | | Daytona Beach, FL | | — | | 175,167.84 | | 1,543,419.55 | | — | | 122,008.13 | | 175,167.84 | | 1,665,427.68 | | 1,840,595.52 | | (148,591.99 | ) | 1986 | | 30 Years | Novawood I | | Daytona Beach, FL | | 149,213.33 | | 122,311.47 | | 1,077,897.38 | | — | | 81,755.49 | | 122,311.47 | | 1,159,652.87 | | 1,281,964.34 | | (104,908.10 | ) | 1980 | | 30 Years | Novawood II | | Daytona Beach, FL | | 695,847.38 | | 144,401.43 | | 1,272,483.95 | | — | | 69,413.35 | | 144,401.43 | | 1,341,897.30 | | 1,486,298.73 | | (116,916.73 | ) | 1980 | | 30 Years | Oak Gardens | | Hollywood, FL | | — | | 329,967.88 | | 2,907,287.62 | | — | | 65,009.54 | | 329,967.88 | | 2,972,297.16 | | 3,302,265.04 | | (250,445.84 | ) | 1988 | | 30 Years | Oak Mill 2 | | Germantown, MD | | 9,600,000.00 | | 854,132.73 | | 9,010,184.18 | | — | | 595,242.27 | | 854,132.73 | | 9,605,426.45 | | 10,459,559.18 | | (2,411,207.87 | ) | 1985 | | 30 Years | Oak Park North | | Agoura Hills, CA | | (L | ) | 1,706,900.00 | | 15,362,665.94 | | — | | 472,871.14 | | 1,706,900.00 | | 15,835,537.08 | | 17,542,437.08 | | (3,551,635.45 | ) | 1990 | | 30 Years | Oak Park South | | Agoura Hills, CA | | (L | ) | 1,683,800.00 | | 15,154,607.90 | | — | | 551,091.16 | | 1,683,800.00 | | 15,705,699.06 | | 17,389,499.06 | | (3,571,447.35 | ) | 1989 | | 30 Years | Oak Ridge | | Clermont, FL | | 1,188,632.36 | | 173,616.92 | | 1,529,936.27 | | — | | 230,737.51 | | 173,616.92 | | 1,760,673.78 | | 1,934,290.70 | | (154,107.23 | ) | 1985 | | 30 Years | Oak Shade | | Orange City, FL | | — | | 229,403.00 | | 2,021,290.39 | | — | | 85,230.13 | | 229,403.00 | | 2,106,520.52 | | 2,335,923.52 | | (182,133.17 | ) | 1985 | | 30 Years | Oakland Hills | | Margate, FL | | 4,884,575.57 | | 3,040,000.00 | | 4,930,603.61 | | — | | 480,587.50 | | 3,040,000.00 | | 5,411,191.11 | | 8,451,191.11 | | (296,541.62 | ) | 1987 | | 30 Years | Oakley Woods | | Union City, GA | | 1,098,792.31 | | 165,448.86 | | 1,457,484.78 | | — | | 129,612.12 | | 165,448.86 | | 1,587,096.90 | | 1,752,545.76 | | (148,490.30 | ) | 1984 | | 30 Years | Oaks (NC) | | Charlotte, NC | | — | | 2,196,744.00 | | 23,601,539.52 | | — | | 231,149.49 | | 2,196,744.00 | | 23,832,689.01 | | 26,029,433.01 | | (2,765,807.35 | ) | 1996 | | 30 Years | Oakwood Manor | | Hollywood, FL | | — | | 173,246.93 | | 1,525,972.93 | | — | | 42,537.90 | | 173,246.93 | | 1,568,510.83 | | 1,741,757.76 | | (135,271.43 | ) | 1986 | | 30 Years |
S-7
EQUITY RESIDENTIAL PROPERTIES TRUST
Schedule III — Real Estate and Accumulated Depreciation
December 31, 2001
| |
| |
| | Initial Cost to Company
| | Cost Capitalized Subsequent to (Improvements, net) (H)
| | Gross Amount Carried at Close of Period 12/31/01
| |
|
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Description
| |
| | Life Used to Compute Depreciation in Latest Income Statement (C)
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Apartment Name
| | Location
| | Encumbrances
| | Land
| | Building & Fixtures
| | Land
| | Building & Fixtures
| | Land
| | Building & Fixtures (A)
| | Total (B)
| | Accumulated Depreciation
| | Date of Construction
|
---|
Oakwood Village (FL) | | Hudson, FL | | — | | 177,280.95 | | 1,285,011.00 | | — | | 247,268.86 | | 177,280.95 | | 1,532,279.86 | | 1,709,560.81 | | (147,783.33 | ) | 1986 | | 30 Years | Oakwood Village (GA) | | Augusta, GA | | — | | 161,174.07 | | 1,420,119.23 | | — | | 92,774.67 | | 161,174.07 | | 1,512,893.90 | | 1,674,067.97 | | (130,598.64 | ) | 1985 | | 30 Years | Ocean Walk | | Key West, FL | | 21,079,921.00 | | 2,838,748.50 | | 25,545,008.72 | | — | | 652,506.51 | | 2,838,748.50 | | 26,197,515.23 | | 29,036,263.73 | | (3,868,848.50 | ) | 1990 | | 30 Years | Old Archer Court | | Gainesville, FL | | 961,384.20 | | 170,323.43 | | 1,500,735.06 | | — | | 229,976.06 | | 170,323.43 | | 1,730,711.12 | | 1,901,034.55 | | (164,282.96 | ) | 1977 | | 30 Years | Old Mill Glen | | Maynard, MA | | 2,012,754.62 | | 396,755.99 | | 2,652,232.60 | | — | | 47,186.17 | | 396,755.99 | | 2,699,418.77 | | 3,096,174.76 | | (118,634.26 | ) | 1983 | | 30 Years | Olde Redmond Place | | Redmond, WA | | 8,774,326.08 | | 4,807,100.00 | | 14,126,038.08 | | — | | 446,326.92 | | 4,807,100.00 | | 14,572,365.00 | | 19,379,465.00 | | (1,865,188.77 | ) | 1986 | | 30 Years | Olivewood (MI) | | Sterling Hts., MI | | — | | 519,166.75 | | 4,574,904.84 | | — | | 235,884.64 | | 519,166.75 | | 4,810,789.48 | | 5,329,956.23 | | (416,545.41 | ) | 1986 | | 30 Years | Olivewood I | | Indianapolis, IN | | — | | 184,701.38 | | 1,627,420.44 | | — | | 218,311.70 | | 184,701.38 | | 1,845,732.14 | | 2,030,433.52 | | (159,602.50 | ) | 1985 | | 30 Years | Olivewood II | | Indianapolis, IN | | 1,260,906.30 | | 186,234.55 | | 1,640,570.51 | | — | | 144,541.29 | | 186,234.55 | | 1,785,111.80 | | 1,971,346.35 | | (154,608.56 | ) | 1986 | | 30 Years | One Eton Square | | Tulsa, OK | | — | | 1,570,100.00 | | 14,130,936.96 | | — | | 1,630,791.66 | | 1,570,100.00 | | 15,761,728.62 | | 17,331,828.62 | | (3,006,920.39 | ) | 1985 | | 30 Years | Orange Grove Village | | Tucson, AZ | | — | | 1,813,154.00 | | 14,893,346.51 | | — | | 580,659.62 | | 1,813,154.00 | | 15,474,006.13 | | 17,287,160.13 | | (2,487,339.10 | ) | 1986/1995 | | 30 Years | Orchard Ridge | | Lynnwood, WA | | — | | 485,600.00 | | 4,372,032.68 | | — | | 414,125.21 | | 485,600.00 | | 4,786,157.89 | | 5,271,757.89 | | (1,390,416.14 | ) | 1988 | | 30 Years | Overlook | | San Antonio, TX | | — | | 1,100,200.00 | | 9,901,516.56 | | — | | 1,110,946.83 | | 1,100,200.00 | | 11,012,463.39 | | 12,112,663.39 | | (2,211,582.73 | ) | 1985 | | 30 Years | Overlook Manor | | Frederick, MD | | — | | 1,299,100.00 | | 3,930,931.05 | | — | | 444,522.67 | | 1,299,100.00 | | 4,375,453.72 | | 5,674,553.72 | | (598,748.92 | ) | 1980/1985 | | 30 Years | Overlook Manor II | | Frederick, MD | | 5,635,000.00 | | 2,186,300.00 | | 6,262,597.06 | | — | | 125,040.08 | | 2,186,300.00 | | 6,387,637.14 | | 8,573,937.14 | | (869,580.83 | ) | 1980/1985 | | 30 Years | Overlook Manor III | | Frederick, MD | | — | | 1,026,300.00 | | 3,027,389.58 | | — | | 65,905.10 | | 1,026,300.00 | | 3,093,294.68 | | 4,119,594.68 | | (407,947.72 | ) | 1980/1985 | | 30 Years | Paces Station | | Atlanta, GA | | — | | 4,801,500.00 | | 32,548,052.56 | | — | | 2,923,478.41 | | 4,801,500.00 | | 35,471,530.97 | | 40,273,030.97 | | (6,253,518.18 | ) | 1984-1988/1989 | | 30 Years | Palatka Oaks I | | Palatka, FL | | 181,304.71 | | 49,535.37 | | 436,420.62 | | — | | 70,240.01 | | 49,535.37 | | 506,660.63 | | 556,196.00 | | (53,625.46 | ) | 1977 | | 30 Years | Palatka Oaks II | | Palatka, FL | | 199,544.81 | | 42,766.52 | | 376,720.61 | | — | | 33,733.93 | | 42,766.52 | | 410,454.54 | | 453,221.06 | | (40,156.97 | ) | 1980 | | 30 Years | Palladia | | Hillsboro, OR | | — | | 6,461,000.00 | | 44,888,155.82 | | — | | 24,874.25 | | 6,461,000.00 | | 44,913,030.07 | | 51,374,030.07 | | (436,512.22 | ) | 2000 | | 30 Years | Palm Place | | Sarasota. FL | | — | | 248,314.81 | | 2,188,339.09 | | — | | 315,627.26 | | 248,314.81 | | 2,503,966.35 | | 2,752,281.16 | | (226,755.51 | ) | 1984 | | 30 Years | Palms at South Shore | | League City, TX | | — | | 1,200,000.00 | | 16,522,432.71 | | — | | 738,457.46 | | 1,200,000.00 | | 17,260,890.17 | | 18,460,890.17 | | (2,087,509.92 | ) | 1990 | | 30 Years | Panther Ridge | | Federal Way, WA | | — | | 1,055,800.00 | | 9,506,116.69 | | — | | 832,579.26 | | 1,055,800.00 | | 10,338,695.95 | | 11,394,495.95 | | (1,996,666.11 | ) | 1980 | | 30 Years | Paradise Pointe | | Dania, FL | | — | | 1,913,414.15 | | 17,417,955.82 | | — | | 2,367,236.54 | | 1,913,414.15 | | 19,785,192.36 | | 21,698,606.51 | | (5,156,535.52 | ) | 1987-90 | | 30 Years | Parc Royale | | Houston, TX | | — | | 2,223,000.00 | | 11,936,832.68 | | — | | 244,717.72 | | 2,223,000.00 | | 12,181,550.40 | | 14,404,550.40 | | (1,420,116.75 | ) | 1994 | | 30 Years | Park Meadow | | Gilbert, AZ | | — | | 835,217.00 | | 15,120,768.64 | | — | | 488,537.92 | | 835,217.00 | | 15,609,306.56 | | 16,444,523.56 | | (2,344,741.72 | ) | 1986 | | 30 Years | Park Place (MN) | | Plymouth, MN | | 8,568,150.49 | | 1,219,900.00 | | 10,964,119.20 | | — | | 829,253.41 | | 1,219,900.00 | | 11,793,372.61 | | 13,013,272.61 | | (2,642,369.00 | ) | 1986 | | 30 Years | Park Place (TX) | | Houston, TX | | 9,754,182.23 | | 1,603,000.00 | | 12,054,925.78 | | — | | 269,038.09 | | 1,603,000.00 | | 12,323,963.87 | | 13,926,963.87 | | (1,821,622.95 | ) | 1996 | | 30 Years | Park Place II | | Plymouth, MN | | 8,611,501.79 | | 1,216,100.00 | | 10,951,697.51 | | — | | 660,694.28 | | 1,216,100.00 | | 11,612,391.79 | | 12,828,491.79 | | (2,537,384.34 | ) | 1986 | | 30 Years | Park Place West (CT) | | West Hartford, CT | | — | | 466,243.49 | | 3,116,742.32 | | — | | 77,016.19 | | 466,243.49 | | 3,193,758.51 | | 3,660,002.00 | | (137,372.75 | ) | 1961 | | 30 Years | Park West (CA) | | Los Angeles, CA | | — | | 3,033,500.00 | | 27,302,382.65 | | — | | 1,268,261.85 | | 3,033,500.00 | | 28,570,644.50 | | 31,604,144.50 | | (6,827,611.70 | ) | 1987/90 | | 30 Years | Park West (TX) | | Austin, TX | | — | | 648,705.00 | | 4,738,541.73 | | — | | 773,633.25 | | 648,705.00 | | 5,512,174.98 | | 6,160,879.98 | | (1,817,027.73 | ) | 1985 | | 30 Years | Park West End (VA) | | Richmond, VA | | — | | 1,562,500.00 | | 11,871,449.21 | | — | | 731,971.58 | | 1,562,500.00 | | 12,603,420.79 | | 14,165,920.79 | | (1,923,267.76 | ) | 1985 | | 30 Years | Parkfield | | Denver, CO | | — | | 8,330,000.00 | | 28,695,685.66 | | — | | 56,919.84 | | 8,330,000.00 | | 28,752,605.50 | | 37,082,605.50 | | (1,067,991.43 | ) | 2000 | | 30 Years | Parkridge Place | | Irving, TX | | — | | 6,432,900.00 | | 17,094,962.48 | | — | | 1,090,359.86 | | 6,432,900.00 | | 18,185,322.34 | | 24,618,222.34 | | (3,076,932.96 | ) | 1985 | | 30 Years | Parkside | | Union City, CA | | — | | 6,246,700.00 | | 11,827,452.91 | | — | | 1,787,633.41 | | 6,246,700.00 | | 13,615,086.32 | | 19,861,786.32 | | (1,872,621.31 | ) | 1979 | | 30 Years | Parkview Terrace | | Redlands, CA | | — | | 4,969,200.00 | | 35,653,777.06 | | — | | 1,006,415.09 | | 4,969,200.00 | | 36,660,192.15 | | 41,629,392.15 | | (5,402,791.46 | ) | 1986 | | 30 Years | Parkville (Col) | | Columbus, OH | | 1,720,364.95 | | 150,432.98 | | 1,325,756.49 | | — | | 171,046.68 | | 150,432.98 | | 1,496,803.17 | | 1,647,236.15 | | (157,443.41 | ) | 1978 | | 30 Years | Parkville (IN) | | Gas City, IN | | 727,900.03 | | 103,434.26 | | 911,493.58 | | — | | 99,008.67 | | 103,434.26 | | 1,010,502.25 | | 1,113,936.51 | | (94,668.30 | ) | 1982 | | 30 Years |
S-8
EQUITY RESIDENTIAL PROPERTIES TRUST
Schedule III — Real Estate and Accumulated Depreciation
December 31, 2001
| |
| |
| | Initial Cost to Company
| | Cost Capitalized Subsequent to (Improvements, net) (H)
| | Gross Amount Carried at Close of Period 12/31/01
| |
|
---|
Description
| |
| | Life Used to Compute Depreciation in Latest Income Statement (C)
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Apartment Name
| | Location
| | Encumbrances
| | Land
| | Building & Fixtures
| | Land
| | Building & Fixtures
| | Land
| | Building & Fixtures (A)
| | Total (B)
| | Accumulated Depreciation
| | Date of Construction
|
---|
Parkville (Par) | | Englewood, OH | | | — | | | 127,863.02 | | | 1,126,637.55 | | | — | | | 60,362.67 | | | 127,863.02 | | | 1,187,000.22 | | | 1,314,863.24 | | | (103,332.60 | ) | 1982 | | 30 Years | Parkville (WV) | | Parkersburg, WV | | | — | | | 105,459.86 | | | 929,406.33 | | | — | | | 69,879.54 | | | 105,459.86 | | | 999,285.87 | | | 1,104,745.73 | | | (85,661.01 | ) | 1982 | | 30 Years | Parkway North (REIT) | | Ft. Meyers, FL | | | 1,111,267.94 | | | 145,350.00 | | | 1,308,114.98 | | | — | | | 51,157.94 | | | 145,350.00 | | | 1,359,272.92 | | | 1,504,622.92 | | | (52,593.15 | ) | 1984 | | 30 Years | Parkwood (CT) | | East Haven, CT | | | 2,819,019.22 | | | 531,364.67 | | | 3,552,064.06 | | | — | | | 42,864.44 | | | 531,364.67 | | | 3,594,928.50 | | | 4,126,293.17 | | | (162,061.94 | ) | 1975 | | 30 Years | Parkwood East | | Fort Collins, CO | | | — | | | 1,644,000.00 | | | 14,790,697.98 | | | — | | | 374,646.52 | | | 1,644,000.00 | | | 15,165,344.50 | | | 16,809,344.50 | | | (2,626,019.70 | ) | 1986 | | 30 Years | Patchen Oaks | | Lexington, KY | | | — | | | 1,345,300.00 | | | 8,129,209.54 | | | — | | | 476,342.70 | | | 1,345,300.00 | | | 8,605,552.24 | | | 9,950,852.24 | | | (1,239,907.21 | ) | 1990 | | 30 Years | Pembroke Lake | | Virginia Beach, VA (U) | | | 8,844,977.98 | | | 511,947.00 | | | 8,889,539.36 | | | — | | | 366,482.55 | | | 511,947.00 | | | 9,256,021.91 | | | 9,767,968.91 | | | (755,609.06 | ) | 1975 | | 30 Years | Phillips Park | | Wellesley, MA | | | 4,033,425.65 | | | 816,921.82 | | | 5,460,955.15 | | | — | | | 28,264.23 | | | 816,921.82 | | | 5,489,219.38 | | | 6,306,141.20 | | | (225,336.46 | ) | 1988 | | 30 Years | Pine Barrens | | Jacksonville, FL | | | 1,433,094.42 | | | 268,302.86 | | | 2,364,040.59 | | | — | | | 144,783.26 | | | 268,302.86 | | | 2,508,823.85 | | | 2,777,126.71 | | | (226,778.84 | ) | 1986 | | 30 Years | Pine Harbour | | Orlando, FL | | | — | | | 1,664,300.00 | | | 14,970,914.84 | | | — | | | 1,334,630.60 | | | 1,664,300.00 | | | 16,305,545.44 | | | 17,969,845.44 | | | (5,026,374.72 | ) | 1991 | | 30 Years | Pine Knoll | | Jonesboro, GA | | | 1,185,389.89 | | | 138,052.24 | | | 1,216,390.69 | | | — | | | 41,602.60 | | | 138,052.24 | | | 1,257,993.29 | | | 1,396,045.53 | | | (107,870.30 | ) | 1985 | | 30 Years | Pine Lake | | Tampa, FL | | | 636,062.89 | | | 79,876.79 | | | 703,801.58 | | | — | | | 43,693.10 | | | 79,876.79 | | | 747,494.68 | | | 827,371.47 | | | (65,086.53 | ) | 1982 | | 30 Years | Pine Meadow | | Greensboro, NC | | | 4,511,994.02 | | | 720,650.00 | | | 6,483,337.55 | | | — | | | 995,978.07 | | | 720,650.00 | | | 7,479,315.62 | | | 8,199,965.62 | | | (1,928,161.49 | ) | 1974 | | 30 Years | Pine Meadows I (FL) | | Ft. Meyers, FL | | | — | | | 152,019.39 | | | 1,339,596.48 | | | — | | | 300,478.94 | | | 152,019.39 | | | 1,640,075.42 | | | 1,792,094.81 | | | (159,171.49 | ) | 1985 | | 30 Years | Pine Terrace I | | Callaway, FL | | | 2,104,499.48 | | | 288,991.84 | | | 2,546,426.41 | | | — | | | 389,840.61 | | | 288,991.84 | | | 2,936,267.02 | | | 3,225,258.86 | | | (283,100.90 | ) | 1983 | | 30 Years | Pine Tree Club | | Wildwood, MO | | | — | | | 1,125,000.00 | | | 7,017,082.20 | | | — | | | 241,316.65 | | | 1,125,000.00 | | | 7,258,398.85 | | | 8,383,398.85 | | | (755,693.25 | ) | 1986 | | 30 Years | Pinellas Pines | | Pinellas Park, FL | | | 93,994.37 | | | 174,999.26 | | | 1,541,934.20 | | | — | | | 178,834.52 | | | 174,999.26 | | | 1,720,768.72 | | | 1,895,767.98 | | | (142,937.13 | ) | 1983 | | 30 Years | Pines of Cloverlane | | Ypsilanti, MI | | | — | | | 1,907,800.00 | | | 16,767,519.36 | | | — | | | 4,689,181.35 | | | 1,907,800.00 | | | 21,456,700.71 | | | 23,364,500.71 | | | (6,215,998.67 | ) | 1975-79 | | 30 Years | Pines of Springdale | | Palm Springs, FL | | | — | | | 473,867.00 | | | 4,265,174.32 | | | — | | | 861,936.65 | | | 473,867.00 | | | 5,127,110.97 | | | 5,600,977.97 | | | (1,669,285.59 | ) | 1985/87 | | 30 Years | Pinney Brook | | Ellington, CT | | | — | | | 198,450.84 | | | 1,326,603.25 | | | — | | | 9,898.26 | | | 198,450.84 | | | 1,336,501.51 | | | 1,534,952.35 | | | (59,319.39 | ) | 1968 | | 30 Years | Pleasant Ridge | | Arlington, TX | | | 1,602,898.08 | | | 445,100.00 | | | 1,996,549.84 | | | — | | | 109,277.42 | | | 445,100.00 | | | 2,105,827.26 | | | 2,550,927.26 | | | (297,464.70 | ) | 1982 | | 30 Years | Plum Tree | | Hales Corners, WI | | | (N | ) | | 1,996,700.00 | | | 20,247,195.39 | | | — | | | 640,070.83 | | | 1,996,700.00 | | | 20,887,266.22 | | | 22,883,966.22 | | | (3,019,616.25 | ) | 1989 | | 30 Years | Plumwood (Che) | | Chesterfield, IN | | | 416,476.29 | | | 84,922.60 | | | 748,260.67 | | | — | | | 37,271.88 | | | 84,922.60 | | | 785,532.55 | | | 870,455.15 | | | (70,857.64 | ) | 1980 | | 30 Years | Plumwood (For) | | Ft. Wayne, IN | | | — | | | 131,350.81 | | | 1,157,243.81 | | | — | | | 119,008.83 | | | 131,350.81 | | | 1,276,252.64 | | | 1,407,603.45 | | | (118,862.73 | ) | 1981 | | 30 Years | Plumwood I | | Columbus, OH | | | 1,665,394.01 | | | 289,814.33 | | | 2,553,597.34 | | | — | | | 268,975.70 | | | 289,814.33 | | | 2,822,573.04 | | | 3,112,387.37 | | | (244,439.84 | ) | 1978 | | 30 Years | Plumwood II | | Columbus, OH | | | — | | | 107,583.06 | | | 947,924.01 | | | — | | | 71,557.14 | | | 107,583.06 | | | 1,019,481.15 | | | 1,127,064.21 | | | (83,433.46 | ) | 1983 | | 30 Years | Point (NC) | | Charlotte, NC | | | 12,765,000.00 | | | 1,700,000.00 | | | 25,417,266.78 | | | — | | | 224,071.46 | | | 1,700,000.00 | | | 25,641,338.24 | | | 27,341,338.24 | | | (2,961,316.13 | ) | 1996 | | 30 Years | Pointe at South Mountain | | Phoenix, AZ | | | — | | | 2,228,800.00 | | | 20,059,310.98 | | | — | | | 939,917.52 | | | 2,228,800.00 | | | 20,999,228.50 | | | 23,228,028.50 | | | (3,773,568.36 | ) | 1988 | | 30 Years | Pointe East | | Redmond, WA | | | — | | | 602,600.00 | | | 5,425,762.95 | | | — | | | 327,561.97 | | | 602,600.00 | | | 5,753,324.92 | | | 6,355,924.92 | | | (1,547,040.17 | ) | 1988 | | 30 Years | Polos | | Fort Myers, FL | | | — | | | 1,640,000.00 | | | 18,444,965.76 | | | — | | | 672,163.25 | | | 1,640,000.00 | | | 19,117,129.01 | | | 20,757,129.01 | | | (2,367,184.61 | ) | 1991 | | 30 Years | Polos East | | Orlando, FL | | | — | | | 1,386,000.00 | | | 19,058,620.04 | | | — | | | 512,233.31 | | | 1,386,000.00 | | | 19,570,853.35 | | | 20,956,853.35 | | | (2,327,981.53 | ) | 1991 | | 30 Years | Port Royale | | Ft. Lauderdale, FL | | | — | | | 1,754,200.00 | | | 15,789,873.13 | | | — | | | 1,080,965.84 | | | 1,754,200.00 | | | 16,870,838.97 | | | 18,625,038.97 | | | (4,584,811.52 | ) | 1988 | | 30 Years | Port Royale II | | Ft. Lauderdale, FL | | | — | | | 1,022,200.00 | | | 9,203,165.98 | | | — | | | 680,056.70 | | | 1,022,200.00 | | | 9,883,222.68 | | | 10,905,422.68 | | | (2,347,670.24 | ) | 1988 | | 30 Years | Port Royale III | | Ft. Lauderdale, FL | | | — | | | 7,454,900.00 | | | 14,725,801.67 | | | — | | | 841,293.33 | | | 7,454,900.00 | | | 15,567,095.00 | | | 23,021,995.00 | | | (2,826,214.37 | ) | 1988 | | 30 Years | Portland Center Combined | | Portland, OR | | | 21,443,864.24 | | | 6,032,900.00 | | | 43,554,398.53 | | | — | | | 3,162,690.15 | | | 6,032,900.00 | | | 46,717,088.68 | | | 52,749,988.68 | | | (5,542,038.01 | ) | 1965 | | 30 Years | Portofino | | Chino Hills, CA | | | — | | | 3,572,400.00 | | | 14,660,993.76 | | | — | | | 333,917.44 | | | 3,572,400.00 | | | 14,994,911.20 | | | 18,567,311.20 | | | (2,214,314.61 | ) | 1989 | | 30 Years | Portofino (Val) | | Valencia, CA | | | 14,791,077.46 | | | 8,640,000.00 | | | 21,487,126.27 | | | — | | | 89,953.24 | | | 8,640,000.00 | | | 21,577,079.51 | | | 30,217,079.51 | | | (780,200.73 | ) | 1989 | | 30 Years | Portside Towers Combined | | Jersey City, NJ | | | 56,184,308.32 | | | 22,455,700.00 | | | 96,842,912.99 | | | — | | | 1,497,625.37 | | | 22,455,700.00 | | | 98,340,538.36 | | | 120,796,238.36 | | | (12,089,410.60 | ) | 1992/1997 | | 30 Years | Prairie Creek I | | Richardson, TX | | | — | | | 4,067,291.52 | | | 38,986,022.29 | | | — | | | 243,731.62 | | | 4,067,291.52 | | | 39,229,753.91 | | | 43,297,045.43 | | | (3,930,026.41 | ) | 1998/99 | | 30 Years | Preakness | | Antioch, TN | | | (E | ) | | 1,561,900.00 | | | 7,668,520.58 | | | — | | | 1,299,867.31 | | | 1,561,900.00 | | | 8,968,387.89 | | | 10,530,287.89 | | | (1,703,911.86 | ) | 1986 | | 30 Years | Preserve at Squaw Peak | | Phoenix, AZ | | | — | | | 517,788.00 | | | 8,533,991.83 | | | — | | | 221,919.23 | | | 517,788.00 | | | 8,755,911.06 | | | 9,273,699.06 | | | (1,326,803.02 | ) | 1990 | | 30 Years | Preston at Willowbend | | Plano, TX | | | — | | | 872,500.00 | | | 7,878,915.24 | | | — | | | 2,375,710.57 | | | 872,500.00 | | | 10,254,625.81 | | | 11,127,125.81 | | | (3,384,683.80 | ) | 1985 | | 30 Years | Preston Bend | | Dallas, TX | | | 8,719,000.00 | | | 1,085,200.00 | | | 9,948,004.66 | | | — | | | 567,758.70 | | | 1,085,200.00 | | | 10,515,763.36 | | | 11,600,963.36 | | | (1,896,751.05 | ) | 1986 | | 30 Years | Princeton Court | | Evansville, IN | | | 879,993.55 | | | 116,696.04 | | | 1,028,219.32 | | | — | | | 121,398.16 | | | 116,696.04 | | | 1,149,617.48 | | | 1,266,313.52 | | | (107,024.33 | ) | 1985 | | 30 Years | Princeton Square | | Jacksonville, FL | | | — | | | 864,000.00 | | | 11,910,477.70 | | | — | | | 334,584.86 | | | 864,000.00 | | | 12,245,062.56 | | | 13,109,062.56 | | | (1,514,327.59 | ) | 1984 | | 30 Years | Promenade (FL) | | St. Petersburg, FL | | | — | | | 2,124,193.40 | | | 25,804,036.95 | | | — | | | 650,627.07 | | | 2,124,193.40 | | | 26,454,664.02 | | | 28,578,857.42 | | | (3,073,425.89 | ) | 1994 | | 30 Years | Promenade at Aventura | | Aventura, FL | | | — | | | 13,320,000.00 | | | 30,353,748.43 | | | — | | | 82,029.43 | | | 13,320,000.00 | | | 30,435,777.86 | | | 43,755,777.86 | | | (725,205.15 | ) | 1995 | | 30 Years | Promenade at Wyndham Lakes | | Coral Springs, FL | | | — | | | 6,640,000.00 | | | 26,743,759.79 | | | — | | | 116,496.38 | | | 6,640,000.00 | | | 26,860,256.17 | | | 33,500,256.17 | | | (1,442,142.77 | ) | 1998 | | 30 Years | Promenade Terrace | | Corona, CA | | | 15,037,654.63 | | | 2,282,800.00 | | | 20,546,289.38 | | | — | | | 803,549.92 | | | 2,282,800.00 | | | 21,349,839.30 | | | 23,632,639.30 | | | (4,353,403.30 | ) | 1990 | | 30 Years | Promontory Pointe I & II | | Phoenix, AZ | | | — | | | 2,355,509.00 | | | 30,421,839.60 | | | — | | | 949,142.38 | | | 2,355,509.00 | | | 31,370,981.98 | | | 33,726,490.98 | | | (4,653,300.91 | ) | 1984/1996 | | 30 Years | Prospect Towers | | Hackensack, NJ | | | 14,287,216.23 | | | 3,926,600.00 | | | 27,966,416.19 | | | — | | | 1,691,887.65 | | | 3,926,600.00 | | | 29,658,303.84 | | | 33,584,903.84 | | | (3,982,421.23 | ) | 1995 | | 30 Years | Prospect Towers II | | Hackensack, NJ | | | 28,077,524.00 | | | 4,500,000.00 | | | 26,930,124.43 | | | — | | | — | | | 4,500,000.00 | | | 26,930,124.43 | | | 31,430,124.43 | | | — | | (Z) | | 30 Years | Pueblo Villas | | Albuquerque, NM | | | — | | | 855,600.00 | | | 7,694,320.11 | | | — | | | 1,620,612.51 | | | 855,600.00 | | | 9,314,932.62 | | | 10,170,532.62 | | | (2,221,317.23 | ) | 1975 | | 30 Years | Quail Call | | Albany, GA | | | 695,742.06 | | | 104,723.44 | | | 922,727.65 | | | — | | | 105,593.04 | | | 104,723.44 | | | 1,028,320.69 | | | 1,133,044.13 | | | (100,826.03 | ) | 1984 | | 30 Years | Ramblewood I (Val) | | Valdosta, GA | | | 941,264.39 | | | 132,083.69 | | | 1,163,801.21 | | | — | | | 57,830.31 | | | 132,083.69 | | | 1,221,631.52 | | | 1,353,715.21 | | | (108,471.03 | ) | 1983 | | 30 Years | Ramblewood II (Aug) | | Augusta, GA | | | — | | | 169,269.38 | | | 1,490,782.67 | | | — | | | 220,355.12 | | | 169,269.38 | | | 1,711,137.79 | | | 1,880,407.17 | | | (161,623.11 | ) | 1986 | | 30 Years | Ramblewood II (Val) | | Valdosta, GA | | | 466,062.80 | | | 61,672.12 | | | 543,398.57 | | | — | | | 23,171.51 | | | 61,672.12 | | | 566,570.08 | | | 628,242.20 | | | (50,391.45 | ) | 1983 | | 30 Years | Ranchside | | New Port Richery, FL | | | — | | | 144,692.45 | | | 1,274,898.15 | | | — | | | 96,629.45 | | | 144,692.45 | | | 1,371,527.60 | | | 1,516,220.05 | | | (123,884.27 | ) | 1985 | | 30 Years | Ranchstone | | Houston, TX | | | — | | | 770,000.00 | | | 15,371,430.67 | | | — | | | 211,116.18 | | | 770,000.00 | | | 15,582,546.85 | | | 16,352,546.85 | | | (1,817,598.37 | ) | 1996 | | 30 Years | Ravens Crest | | Plainsboro, NJ | | | — | | | 4,670,850.00 | | | 42,080,642.31 | | | — | | | 3,492,308.39 | | | 4,670,850.00 | | | 45,572,950.70 | | | 50,243,800.70 | | | (12,809,771.47 | ) | 1984 | | 30 Years | Ravinia | | Greenfield, WI | | | (N | ) | | 1,240,100.00 | | | 12,055,713.24 | | | — | | | 400,283.94 | | | 1,240,100.00 | | | 12,455,997.18 | | | 13,696,097.18 | | | (1,810,071.37 | ) | 1991 | | 30 Years | Red Deer I | | Fairborn, OH | | | — | | | 204,316.78 | | | 1,800,253.53 | | | — | | | 119,916.88 | | | 204,316.78 | | | 1,920,170.41 | | | 2,124,487.19 | | | (161,158.04 | ) | 1986 | | 30 Years | Red Deer II | | Fairborn, OH | | | — | | | 193,851.63 | | | 1,708,044.09 | | | — | | | 88,504.48 | | | 193,851.63 | | | 1,796,548.57 | | | 1,990,400.20 | | | (151,169.03 | ) | 1987 | | 30 Years | Redan Village I | | Decatur, GA | | | — | | | 274,294.48 | | | 2,416,963.33 | | | — | | | 160,176.63 | | | 274,294.48 | | | 2,577,139.96 | | | 2,851,434.44 | | | (218,876.49 | ) | 1984 | | 30 Years | Redan Village II | | Decatur, GA | | | — | | | 240,605.46 | | | 2,119,855.32 | | | — | | | 113,742.82 | | | 240,605.46 | | | 2,233,598.14 | | | 2,474,203.60 | | | (183,119.76 | ) | 1986 | | 30 Years | Redlands Lawn and Tennis | | Redlands, CA | | | — | | | 4,822,320.00 | | | 26,359,328.48 | | | — | | | 1,306,669.12 | | | 4,822,320.00 | | | 27,665,997.60 | | | 32,488,317.60 | | | (4,178,836.87 | ) | 1986 | | 30 Years | Regatta (Vacant Land) | | Marina Del Rey, CA | | | 27,468,117.21 | | | 60,591,375.00 | | | 44,541,748.64 | | | — | | | — | | | 60,591,375.00 | | | 44,541,748.64 | | | 105,133,123.64 | | | — | | (Z) | | 30 Years | Regency | | Charlotte, NC | | | — | | | 890,000.00 | | | 11,783,919.89 | | | — | | | 538,722.06 | | | 890,000.00 | | | 12,322,641.95 | | | 13,212,641.95 | | | (1,435,251.96 | ) | 1986 | | 30 Years | Regency Palms | | Huntington Beach, CA | | | — | | | 1,857,400.00 | | | 16,713,253.54 | | | — | | | 1,049,944.62 | | | 1,857,400.00 | | | 17,763,198.16 | | | 19,620,598.16 | | | (4,045,389.96 | ) | 1969 | | 30 Years | Reserve at Ashley Lake | | Boynton Beach, FL | | | 24,150,000.00 | | | 3,520,400.00 | | | 23,332,493.58 | | | — | | | 800,861.74 | | | 3,520,400.00 | | | 24,133,355.32 | | | 27,653,755.32 | | | (3,738,739.69 | ) | 1990 | | 30 Years | Reserve Square Combined | | Cleveland, OH | | | — | | | 2,618,851.89 | | | 23,582,868.99 | | | — | | | 14,143,504.79 | | | 2,618,851.89 | | | 37,726,373.78 | | | 40,345,225.67 | | | (13,386,787.93 | ) | 1973 | | 30 Years | Reserve Square-Hotel | | Cleveland, OH | | | — | | | — | | | — | | | — | | | 532,146.34 | | | — | | | 532,146.34 | | | 532,146.34 | | | (102,296.86 | ) | 1973 | | 30 Years | Retreat, The | | Phoenix, AZ | | | — | | | 3,475,114.00 | | | 27,265,251.81 | | | — | | | 176,673.77 | | | 3,475,114.00 | | | 27,441,925.58 | | | 30,917,039.58 | | | (2,504,269.99 | ) | 1999 | | 30 Years | Ribbon Mill | | Manchester, CT | | | 4,462,893.75 | | | 787,929.00 | | | 5,267,144.05 | | | — | | | 58,449.04 | | | 787,929.00 | | | 5,325,593.09 | | | 6,113,522.09 | | | (228,709.18 | ) | 1908 | | 30 Years | Richmond Townhomes | | Houston, TX | | | — | | | 940,000.00 | | | 13,906,905.00 | | | — | | | 335,062.61 | | | 940,000.00 | | | 14,241,967.61 | | | 15,181,967.61 | | | (1,673,270.63 | ) | 1995 | | 30 Years | Ridgegate | | Kent, WA | | | — | | | 805,800.00 | | | 7,323,524.49 | | | — | | | 558,555.50 | | | 805,800.00 | | | 7,882,079.99 | | | 8,687,879.99 | | | (1,374,524.67 | ) | 1990 | | 30 Years | Ridgetop | | Silverdale, WA | | | — | | | 811,500.00 | | | 7,299,489.64 | | | — | | | 469,487.86 | | | 811,500.00 | | | 7,768,977.50 | | | 8,580,477.50 | | | (1,397,185.37 | ) | 1988 | | 30 Years | Ridgetree | | Dallas, TX | | | — | | | 2,115,200.00 | | | 19,030,979.07 | | | — | | | 1,813,480.81 | | | 2,115,200.00 | | | 20,844,459.88 | | | 22,959,659.88 | | | (5,379,820.64 | ) | 1983 | | 30 Years | Ridgeway Commons | | Memphis, TN | | | — | | | 583,239.59 | | | 5,396,306.17 | | | — | | | 378,066.27 | | | 583,239.59 | | | 5,774,372.44 | | | 6,357,612.03 | | | (943,605.55 | ) | 1970 | | 30 Years | Ridgewood (Lou) | | Louisville, KY | | | — | | | 163,685.89 | | | 1,442,301.06 | | | — | | | 38,285.39 | | | 163,685.89 | | | 1,480,586.45 | | | 1,644,272.34 | | | (124,070.73 | ) | 1984 | | 30 Years | Ridgewood (MI) | | Westland, MI | | | 1,178,618.71 | | | 176,968.96 | | | 1,559,588.43 | | | — | | | 71,910.91 | | | 176,968.96 | | | 1,631,499.34 | | | 1,808,468.30 | | | (140,395.41 | ) | 1983 | | 30 Years | Ridgewood (Rus) | | Russellville, KY | | | 744,971.22 | | | 69,156.10 | | | 609,340.64 | | | — | | | 70,226.31 | | | 69,156.10 | | | 679,566.95 | | | 748,723.05 | | | (69,901.41 | ) | 1984 | | 30 Years | Ridgewood I (Bed) | | Bedford, IN | | | 830,345.96 | | | 107,119.92 | | | 943,843.19 | | | — | | | 83,618.07 | | | 107,119.92 | | | 1,027,461.26 | | | 1,134,581.18 | | | (93,893.70 | ) | 1984 | | 30 Years | Ridgewood I (Elk) | | Elkhart, IN | | | 1,128,693.61 | | | 159,371.17 | | | 1,404,233.72 | | | — | | | 172,755.57 | | | 159,371.17 | | | 1,576,989.29 | | | 1,736,360.46 | | | (137,341.08 | ) | 1984 | | 30 Years | Ridgewood I (GA) | | Decatur, GA | | | 1,357,942.30 | | | 230,574.17 | | | 2,031,609.72 | | | — | | | 113,210.75 | | | 230,574.17 | | | 2,144,820.47 | | | 2,375,394.64 | | | (182,968.64 | ) | 1984 | | 30 Years | Ridgewood I (Lex) | | Lexington, KY | | | — | | | 203,719.66 | | | 1,794,792.23 | | | — | | | 101,925.97 | | | 203,719.66 | | | 1,896,718.20 | | | 2,100,437.86 | | | (159,668.01 | ) | 1984 | | 30 Years | Ridgewood I (OH) | | Columbus, OH | | | 1,171,840.81 | | | 174,065.87 | | | 1,534,135.00 | | | — | | | 104,675.10 | | | 174,065.87 | | | 1,638,810.10 | | | 1,812,875.97 | | | (144,783.51 | ) | 1984 | | 30 Years | Ridgewood II (Bed) | | Bedford, IN | | | 861,087.79 | | | 99,558.74 | | | 877,220.98 | | | — | | | 73,117.41 | | | 99,558.74 | | | 950,338.39 | | | 1,049,897.13 | | | (86,020.45 | ) | 1986 | | 30 Years | Ridgewood II (Elk) | | Elkhart, IN | | | — | | | 215,334.70 | | | 1,897,333.39 | | | — | | | 233,328.16 | | | 215,334.70 | | | 2,130,661.55 | | | 2,345,996.25 | | | (192,611.95 | ) | 1986 | | 30 Years | Ridgewood II (GA) | | Decatur, GA | | | 973,982.41 | | | 164,999.02 | | | 1,453,626.21 | | | — | | | 48,790.46 | | | 164,999.02 | | | 1,502,416.67 | | | 1,667,415.69 | | | (124,284.69 | ) | 1986 | | 30 Years | Ridgewood II (OH) | | Columbus, OH | | | 1,132,779.44 | | | 162,913.98 | | | 1,435,647.68 | | | — | | | 93,864.63 | | | 162,913.98 | | | 1,529,512.31 | | | 1,692,426.29 | | | (132,883.19 | ) | 1985 | | 30 Years | Ridgewood Village | | San Diego, CA | | | (R | ) | | 5,761,500.00 | | | 14,032,510.64 | | | — | | | 74,524.53 | | | 5,761,500.00 | | | 14,107,035.17 | | | 19,868,535.17 | | | (2,037,157.91 | ) | 1997 | | 30 Years | Ridgewood Village II | | San Diego, CA | | | — | | | 6,048,000.00 | | | 19,971,537.18 | | | — | | | 22,067.70 | | | 6,048,000.00 | | | 19,993,604.88 | | | 26,041,604.88 | | | (805,991.45 | ) | 1997 | | 30 Years | Rincon | | Houston, TX | | | (E | ) | | 4,401,900.00 | | | 16,734,745.75 | | | — | | | 324,714.44 | | | 4,401,900.00 | | | 17,059,460.19 | | | 21,461,360.19 | | | (2,907,444.37 | ) | 1996 | | 30 Years | River Bend | | Tampa, FL | | | — | | | 602,945.00 | | | 1,760,822.60 | | | — | | | 3,129,497.36 | | | 602,945.00 | | | 4,890,319.96 | | | 5,493,264.96 | | | (4,216,431.92 | ) | 1971 | | 30 Years | River Glen I | | Reynoldsbury, OH | | | — | | | 171,271.91 | | | 1,508,892.15 | | | — | | | 47,733.32 | | | 171,271.91 | | | 1,556,625.47 | | | 1,727,897.38 | | | (131,762.00 | ) | 1987 | | 30 Years | River Glen II | | Reynoldsbury, OH | | | 1,132,517.14 | | | 158,683.55 | | | 1,398,175.02 | | | — | | | 42,303.29 | | | 158,683.55 | | | 1,440,478.31 | | | 1,599,161.86 | | | (120,647.82 | ) | 1987 | | 30 Years | River Hill | | Grand Prairie, TX | | | — | | | 2,004,000.00 | | | 19,272,943.71 | | | — | | | 384,472.47 | | | 2,004,000.00 | | | 19,657,416.18 | | | 21,661,416.18 | | | (2,355,483.58 | ) | 1996 | | 30 Years | River Oaks (CA) | | Oceanside, CA | | | 10,576,578.77 | | | 5,600,000.00 | | | 20,673,713.81 | | | — | | | 217,129.97 | | | 5,600,000.00 | | | 20,890,843.78 | | | 26,490,843.78 | | | (632,562.71 | ) | 1984 | | 30 Years | River Park | | Fort Worth, TX | | | 7,456,459.73 | | | 2,245,400.00 | | | 8,811,726.50 | | | — | | | 1,708,294.19 | | | 2,245,400.00 | | | 10,520,020.69 | | | 12,765,420.69 | | | (1,604,295.95 | ) | 1984 | | 30 Years | River's Bend (CT) | | Windsor, CT | | | 12,389,455.00 | | | 3,325,516.73 | | | 22,230,398.58 | | | — | | | 127,761.19 | | | 3,325,516.73 | | | 22,358,159.77 | | | 25,683,676.50 | | | (949,975.71 | ) | 1973 | | 30 Years | Rivers Edge | | Waterbury, CT | | | — | | | 781,900.00 | | | 6,561,167.21 | | | — | | | 262,709.27 | | | 781,900.00 | | | 6,823,876.48 | | | 7,605,776.48 | | | (906,443.35 | ) | 1974 | | 30 Years | Rivers End I | | Jacksonville, FL | | | 1,366,089.67 | | | 171,744.81 | | | 1,507,064.67 | | | — | | | 123,721.74 | | | 171,744.81 | | | 1,630,786.41 | | | 1,802,531.22 | | | (145,355.27 | ) | 1986 | | 30 Years | Rivers End II | | Jacksonville, FL | | | 1,087,480.02 | | | 190,687.68 | | | 1,680,171.28 | | | — | | | 138,763.78 | | | 190,687.68 | | | 1,818,935.06 | | | 2,009,622.74 | | | (158,561.42 | ) | 1986 | | 30 Years | Riverside Park | | Tulsa, OK | | | (E | ) | | 1,441,400.00 | | | 12,371,637.06 | | | — | | | 432,928.68 | | | 1,441,400.00 | | | 12,804,565.74 | | | 14,245,965.74 | | | (2,092,346.66 | ) | 1994 | | 30 Years | Riverview Condominiums | | Norwalk, CT | | | 6,200,915.99 | | | 2,300,000.00 | | | 7,406,729.78 | | | — | | | 282,851.33 | | | 2,300,000.00 | | | 7,689,581.11 | | | 9,989,581.11 | | | (264,397.10 | ) | 1991 | | 30 Years | Roanoke | | Rochester Hills, MI | | | 40,500.00 | | | 369,911.16 | | | 3,259,270.40 | | | — | | | 120,918.19 | | | 369,911.16 | | | 3,380,188.59 | | | 3,750,099.75 | | | (279,634.15 | ) | 1985 | | 30 Years | Rock Creek | | Corrboro, NC | | | — | | | 895,700.00 | | | 8,062,542.86 | | | — | | | 555,270.36 | | | 895,700.00 | | | 8,617,813.22 | | | 9,513,513.22 | | | (1,743,215.89 | ) | 1986 | | 30 Years | Rockingham Glen | | West Roxbury, MA | | | 4,395,436.78 | | | 1,124,216.91 | | | 7,515,159.93 | | | — | | | 111,701.55 | | | 1,124,216.91 | | | 7,626,861.48 | | | 8,751,078.39 | | | (331,156.52 | ) | 1974 | | 30 Years | Rolido Parque | | Houston, TX | | | 6,931,475.78 | | | 2,955,900.00 | | | 7,931,879.77 | | | — | | | 1,098,090.87 | | | 2,955,900.00 | | | 9,029,970.64 | | | 11,985,870.64 | | | (1,609,019.58 | ) | 1978 | | 30 Years | Rolling Green (Amherst) | | Amherst, MA | | | 4,088,592.03 | | | 1,340,701.85 | | | 8,962,317.43 | | | — | | | 296,210.91 | | | 1,340,701.85 | | | 9,258,528.34 | | | 10,599,230.19 | | | (410,450.92 | ) | 1970 | | 30 Years | Rolling Green (Fall River) | | Fall River, MA | | | 8,157,815.54 | | | 2,481,821.11 | | | 16,780,359.12 | | | — | | | 488,092.81 | | | 2,481,821.11 | | | 17,268,451.93 | | | 19,750,273.04 | | | (779,640.72 | ) | 1971 | | 30 Years | Rolling Green (Milford) | | Milford, MA | | | 8,085,754.69 | | | 2,012,350.35 | | | 13,452,150.14 | | | — | | | 601,940.25 | | | 2,012,350.35 | | | 14,054,090.39 | | | 16,066,440.74 | | | (622,351.84 | ) | 1970 | | 30 Years | Rosecliff | | Quincy, MA | | | — | | | 5,460,000.00 | | | 15,722,948.35 | | | — | | | 32,511.99 | | | 5,460,000.00 | | | 15,755,460.34 | | | 21,215,460.34 | | | (1,357,488.19 | ) | 1990 | | 30 Years | Rosehill Pointe | | Lenexa, KS | | | 12,286,411.01 | | | 2,093,300.00 | | | 18,863,514.87 | | | — | | | 2,955,883.01 | | | 2,093,300.00 | | | 21,819,397.88 | | | 23,912,697.88 | | | (5,334,414.08 | ) | 1984 | | 30 Years | Rosewood (KY) | | Louisville, KY | | | 1,550,067.20 | | | 253,452.90 | | | 2,233,196.22 | | | — | | | 95,218.43 | | | 253,452.90 | | | 2,328,414.65 | | | 2,581,867.55 | | | (198,052.96 | ) | 1984 | | 30 Years | Rosewood (OH) | | Columbus, OH | | | — | | | 212,378.37 | | | 1,871,185.91 | | | — | | | 132,454.41 | | | 212,378.37 | | | 2,003,640.32 | | | 2,216,018.69 | | | (177,790.35 | ) | 1985 | | 30 Years | Rosewood Commons I | | Indianapolis, IN | | | 1,810,848.21 | | | 228,644.39 | | | 2,014,652.29 | | | — | | | 170,129.32 | | | 228,644.39 | | | 2,184,781.61 | | | 2,413,426.00 | | | (203,149.18 | ) | 1986 | | 30 Years | Rosewood Commons II | | Indianapolis, IN | | | — | | | 220,463.03 | | | 1,942,519.54 | | | — | | | 128,960.57 | | | 220,463.03 | | | 2,071,480.11 | | | 2,291,943.14 | | | (187,081.14 | ) | 1987 | | 30 Years | Royal Oak | | Eagan, MN | | | 13,139,491.00 | | | 1,602,903.51 | | | 14,423,662.47 | | | — | | | 629,043.35 | | | 1,602,903.51 | | | 15,052,705.82 | | | 16,655,609.33 | | | (2,322,559.80 | ) | 1989 | | 30 Years | Royal Oaks (FL) | | Jacksonville, FL | | | — | | | 1,988,000.00 | | | 13,645,117.44 | | | — | | | 418,480.80 | | | 1,988,000.00 | | | 14,063,598.24 | | | 16,051,598.24 | | | (1,718,318.81 | ) | 1991 | | 30 Years |
S-9
Royale | | Cranston, RI | | | 2,018,441.00 | | | 512,785.47 | | | 3,427,865.91 | | | — | | | 67,145.83 | | | 512,785.47 | | | 3,495,011.74 | | | 4,007,797.21 | | | (151,247.13 | ) | 1976 | | 30 Years | Sabal Palm at Boot Ranch | | Palm Harbor, FL | | | 16,147,538.57 | | | 3,888,000.00 | | | 28,923,691.69 | | | — | | | 575,271.44 | | | 3,888,000.00 | | | 29,498,963.13 | | | 33,386,963.13 | | | (3,449,742.27 | ) | 1996 | | 30 Years | Sabal Palm at Carrollwood Place | | Tampa, FL | | | — | | | 3,888,000.00 | | | 26,911,542.48 | | | — | | | 327,961.98 | | | 3,888,000.00 | | | 27,239,504.46 | | | 31,127,504.46 | | | (3,215,088.15 | ) | 1995 | | 30 Years | Sabal Palm at Lake Buena Vista | | Orlando, Fl | | | 21,170,000.00 | | | 2,800,000.00 | | | 23,687,892.95 | | | — | | | 676,324.66 | | | 2,800,000.00 | | | 24,364,217.61 | | | 27,164,217.61 | | | (2,910,953.95 | ) | 1988 | | 30 Years | Sabal Palm at Metrowest | | Orlando, Fl | | | — | | | 4,110,000.00 | | | 38,394,864.86 | | | — | | | 651,119.46 | | | 4,110,000.00 | | | 39,045,984.32 | | | 43,155,984.32 | | | (4,481,380.07 | ) | 1998 | | 30 Years | Sabal Palm at Metrowest II | | Orlando, Fl | | | — | | | 4,560,000.00 | | | 33,907,282.83 | | | — | | | 301,554.82 | | | 4,560,000.00 | | | 34,208,837.65 | | | 38,768,837.65 | | | (3,950,874.16 | ) | 1997 | | 30 Years | Sabal Pointe | | Coral Springs, FL | | | — | | | 1,951,600.00 | | | 17,570,507.92 | | | — | | | 724,611.78 | | | 1,951,600.00 | | | 18,295,119.70 | | | 20,246,719.70 | | | (3,939,925.21 | ) | 1995 | | 30 Years | Saddle Ridge | | Ashburn, VA | | | — | | | 1,364,800.00 | | | 12,283,616.32 | | | — | | | 620,984.37 | | | 1,364,800.00 | | | 12,904,600.69 | | | 14,269,400.69 | | | (2,965,216.53 | ) | 1989 | | 30 Years | Sailboat Bay | | Raleigh, NC | | | — | | | 960,000.00 | | | 8,797,579.84 | | | — | | | 322,796.26 | | | 960,000.00 | | | 9,120,376.10 | | | 10,080,376.10 | | | (1,129,195.17 | ) | 1986 | | 30 Years | Sandalwood | | Toledo, OH | | | 1,077,848.97 | | | 151,926.23 | | | 1,338,635.64 | | | — | | | 30,212.24 | | | 151,926.23 | | | 1,368,847.88 | | | 1,520,774.11 | | | (115,586.33 | ) | 1984 | | 30 Years | Sandpiper II | | Fort Pierce, FL | | | — | | | 155,495.65 | | | 1,369,987.12 | | | — | | | 286,788.90 | | | 155,495.65 | | | 1,656,776.02 | | | 1,812,271.67 | | | (158,135.54 | ) | 1982 | | 30 Years | Sanford Court | | Sanford, FL | | | 1,710,085.85 | | | 238,814.10 | | | 2,104,212.44 | | | — | | | 240,218.67 | | | 238,814.10 | | | 2,344,431.11 | | | 2,583,245.21 | | | (216,037.02 | ) | 1976 | | 30 Years | Scarborough Square | | Rockville, MD | | | 5,012,038.89 | | | 1,815,000.00 | | | 7,608,125.57 | | | — | | | 637,655.90 | | | 1,815,000.00 | | | 8,245,781.47 | | | 10,060,781.47 | | | (938,332.71 | ) | 1967 | | 30 Years | Schooner Bay I | | Foster City, CA | | | 27,000,000.00 | | | 5,345,000.00 | | | 14,702,681.68 | | | — | | | 60,528.25 | | | 5,345,000.00 | | | 14,763,209.93 | | | 20,108,209.93 | | | (287,395.97 | ) | 1985 | | 30 Years | Schooner Bay II | | Foster City, CA | | | 23,760,000.00 | | | 4,550,000.00 | | | 12,970,054.24 | | | — | | | 52,913.76 | | | 4,550,000.00 | | | 13,022,968.00 | | | 17,572,968.00 | | | (251,971.99 | ) | 1985 | | 30 Years | Scottsdale Courtyards | | Scottsdale, AZ | | | — | | | 2,979,269.00 | | | 25,073,537.79 | | | — | | | 474,233.39 | | | 2,979,269.00 | | | 25,547,771.18 | | | 28,527,040.18 | | | (3,762,268.62 | ) | 1993 | | 30 Years | Scottsdale Meadows | | Scottsdale, AZ | | | — | | | 1,512,000.00 | | | 11,407,698.76 | | | — | | | 501,722.24 | | | 1,512,000.00 | | | 11,909,421.00 | | | 13,421,421.00 | | | (1,785,958.09 | ) | 1984 | | 30 Years | Security Manor | | Westfield, MA | | | 1,443,634.00 | | | 355,456.23 | | | 2,376,152.12 | | | — | | | 15,389.07 | | | 355,456.23 | | | 2,391,541.19 | | | 2,746,997.42 | | | (105,841.69 | ) | 1971 | | 30 Years | Sedona Springs | | Austin, TX | | | 15,975,000.00 | | | 2,574,000.00 | | | 23,477,042.72 | | | — | | | 819,920.92 | | | 2,574,000.00 | | | 24,296,963.64 | | | 26,870,963.64 | | | (2,871,163.85 | ) | 1995 | | 30 Years | Seeley Lake | | Lakewood, WA | | | — | | | 2,760,400.00 | | | 24,845,286.28 | | | — | | | 959,417.87 | | | 2,760,400.00 | | | 25,804,704.15 | | | 28,565,104.15 | | | (4,482,780.99 | ) | 1990 | | 30 Years | Settler's Point | | Salt Lake City, UT | | | — | | | 1,715,100.00 | | | 15,437,046.26 | | | — | | | 823,930.36 | | | 1,715,100.00 | | | 16,260,976.62 | | | 17,976,076.62 | | | (2,936,857.93 | ) | 1986 | | 30 Years | Seventh & James | | Seattle, WA | | | — | | | 663,800.00 | | | 5,974,802.99 | | | — | | | 1,714,645.90 | | | 663,800.00 | | | 7,689,448.89 | | | 8,353,248.89 | | | (1,251,360.04 | ) | 1992 | | 30 Years | Shadetree | | West Palm Beach, FL | | | — | | | 532,000.00 | | | 1,420,721.36 | | | — | | | 130,892.18 | | | 532,000.00 | | | 1,551,613.54 | | | 2,083,613.54 | | | (22,701.97 | ) | 1982 | | 30 Years | Shadow Bay I | | Jacksonville, FL | | | — | | | 123,318.51 | | | 1,086,720.43 | | | — | | | 78,824.99 | | | 123,318.51 | | | 1,165,545.42 | | | 1,288,863.93 | | | (107,332.55 | ) | 1984 | | 30 Years | Shadow Bay II | | Jacksonville, FL | | | 967,211.18 | | | 139,708.74 | | | 1,231,134.03 | | | — | | | 79,472.65 | | | 139,708.74 | | | 1,310,606.68 | | | 1,450,315.42 | | | (119,008.83 | ) | 1985 | | 30 Years | Shadow Brook | | Scottsdale, AZ | | | — | | | 3,065,496.00 | | | 18,367,686.39 | | | — | | | 695,603.54 | | | 3,065,496.00 | | | 19,063,289.93 | | | 22,128,785.93 | | | (2,852,836.65 | ) | 1984 | | 30 Years | Shadow Lake | | Doraville, GA | | | — | | | 1,140,000.00 | | | 13,117,276.66 | | | — | | | 240,299.76 | | | 1,140,000.00 | | | 13,357,576.42 | | | 14,497,576.42 | | | (1,588,617.17 | ) | 1989 | | 30 Years | Shadow Ridge | | Tallahassee, FL | | | — | | | 150,326.51 | | | 1,324,061.38 | | | — | | | 120,666.11 | | | 150,326.51 | | | 1,444,727.49 | | | 1,595,054.00 | | | (128,291.17 | ) | 1983 | | 30 Years | Shadow Trace | | Stone Mountain, GA | | | — | | | 244,320.39 | | | 2,152,728.92 | | | — | | | 150,256.61 | | | 244,320.39 | | | 2,302,985.53 | | | 2,547,305.92 | | | (202,912.92 | ) | 1984 | | 30 Years | Shadowood I | | Sarasota, FL | | | 1,394,425.14 | | | 157,660.55 | | | 1,389,061.24 | | | — | | | 101,651.07 | | | 157,660.55 | | | 1,490,712.31 | | | 1,648,372.86 | | | (132,806.98 | ) | 1982 | | 30 Years | Shadowood II | | Sarasota, FL | | | 1,185,160.61 | | | 152,030.92 | | | 1,339,469.12 | | | — | | | 41,207.18 | | | 152,030.92 | | | 1,380,676.30 | | | 1,532,707.22 | | | (121,829.69 | ) | 1983 | | 30 Years | Sheffield Court | | Arlington, VA | | | — | | | 3,349,350.00 | | | 31,960,799.88 | | | — | | | 1,255,129.32 | | | 3,349,350.00 | | | 33,215,929.20 | | | 36,565,279.20 | | | (8,241,627.01 | ) | 1986 | | 30 Years | Sherbrook (IN) | | Indianapolis, IN | | | 1,625,092.56 | | | 171,920.49 | | | 1,514,706.88 | | | — | | | 103,271.24 | | | 171,920.49 | | | 1,617,978.12 | | | 1,789,898.61 | | | (148,113.91 | ) | 1986 | | 30 Years | Sherbrook (OH) | | Columbus, OH | | | 1,074,187.90 | | | 163,493.35 | | | 1,440,035.77 | | | — | | | 129,635.21 | | | 163,493.35 | | | 1,569,670.98 | | | 1,733,164.33 | | | (141,811.49 | ) | 1985 | | 30 Years | Sherbrook (PA) | | Wexford, PH | | | — | | | 279,665.03 | | | 2,464,403.71 | | | — | | | 164,151.90 | | | 279,665.03 | | | 2,628,555.61 | | | 2,908,220.64 | | | (218,694.98 | ) | 1986 | | 30 Years | Shoal Run | | Birmingham, AL | | | — | | | 1,380,000.00 | | | 12,218,577.43 | | | — | | | 282,586.96 | | | 1,380,000.00 | | | 12,501,164.39 | | | 13,881,164.39 | | | (1,506,549.04 | ) | 1986 | | 30 Years | Siena Terrace | | Lake Forest, CA | | | 18,038,474.01 | | | 8,900,000.00 | | | 24,083,023.60 | | | — | | | 457,835.33 | | | 8,900,000.00 | | | 24,540,858.93 | | | 33,440,858.93 | | | (2,571,775.12 | ) | 1988 | | 30 Years | Sierra Canyon | | Santa Clarita, CA | | | — | | | 3,484,200.00 | | | 12,523,276.06 | | | — | | | 893,727.28 | | | 3,484,200.00 | | | 13,417,003.34 | | | 16,901,203.34 | | | (2,063,553.10 | ) | 1987 | | 30 Years | Silver Creek | | Phoenix, AZ | | | — | | | 712,102.00 | | | 6,707,495.59 | | | — | | | 349,601.28 | | | 712,102.00 | | | 7,057,096.87 | | | 7,769,198.87 | | | (1,119,903.17 | ) | 1986 | | 30 Years | Silver Forest | | Ocala, FL | | | 837,810.82 | | | 126,535.69 | | | 1,114,917.31 | | | — | | | 34,644.29 | | | 126,535.69 | | | 1,149,561.60 | | | 1,276,097.29 | | | (100,259.28 | ) | 1985 | | 30 Years | Silver Shadow | | Las Vegas, NV | | | — | | | 953,440.00 | | | 8,599,510.80 | | | — | | | 799,422.92 | | | 953,440.00 | | | 9,398,933.72 | | | 10,352,373.72 | | | (2,821,691.43 | ) | 1992 | | 30 Years | Silver Springs (FL) | | Jacksonville, FL | | | — | | | 1,831,100.00 | | | 16,474,734.54 | | | — | | | 3,466,305.30 | | | 1,831,100.00 | | | 19,941,039.84 | | | 21,772,139.84 | | | (3,282,345.29 | ) | 1985 | | 30 Years | Silverwood | | Mission, KS | | | (P | ) | | 1,230,000.00 | | | 11,070,904.41 | | | — | | | 1,501,760.46 | | | 1,230,000.00 | | | 12,572,664.87 | | | 13,802,664.87 | | | (3,599,579.67 | ) | 1986 | | 30 Years | Sky Pines I | | Orlando, Fl | | | 2,240,675.98 | | | 349,028.75 | | | 3,075,448.67 | | | — | | | 169,847.93 | | | 349,028.75 | | | 3,245,296.60 | | | 3,594,325.35 | | | (292,036.85 | ) | 1986 | | 30 Years | Sky Ridge | | Woodstock, GA | | | — | | | 437,373.49 | | | 3,853,792.10 | | | — | | | 193,464.05 | | | 437,373.49 | | | 4,047,256.15 | | | 4,484,629.64 | | | (337,287.03 | ) | 1987 | | 30 Years | Skycrest | | Valencia, CA | | | 18,390,094.19 | | | 10,560,000.00 | | | 25,574,457.27 | | | — | | | 78,292.83 | | | 10,560,000.00 | | | 25,652,750.10 | | | 36,212,750.10 | | | (927,025.66 | ) | 1999 | | 30 Years | Skylark | | Union City, CA | | | — | | | 1,781,600.00 | | | 16,731,915.87 | | | — | | | 470,686.84 | | | 1,781,600.00 | | | 17,202,602.71 | | | 18,984,202.71 | | | (2,078,518.17 | ) | 1986 | | 30 Years | Skyview | | Rancho Santa Margarita, CA | | | — | | | 3,380,000.00 | | | 21,953,151.07 | | | — | | | 139,816.58 | | | 3,380,000.00 | | | 22,092,967.65 | | | 25,472,967.65 | | | (2,042,853.50 | ) | 1999 | | 30 Years | Slate Run (Hop) | | Hopkinsville, KY | | | 875,341.46 | | | 91,303.73 | | | 804,535.36 | | | — | | | 95,168.08 | | | 91,303.73 | | | 899,703.44 | | | 991,007.17 | | | (88,232.12 | ) | 1984 | | 30 Years | Slate Run (Ind) | | Indianapolis, IN | | | 1,980,685.72 | | | 295,593.01 | | | 2,604,496.55 | | | — | | | 207,677.12 | | | 295,593.01 | | | 2,812,173.67 | | | 3,107,766.68 | | | (241,319.12 | ) | 1984 | | 30 Years | Slate Run (Leb) | | Lebanon, IN | | | 1,202,838.17 | | | 154,060.96 | | | 1,357,444.95 | | | — | | | 115,764.02 | | | 154,060.96 | | | 1,473,208.97 | | | 1,627,269.93 | | | (139,064.85 | ) | 1984 | | 30 Years | Slate Run (Mia) | | Miamisburg, OH | | | 833,093.01 | | | 136,064.79 | | | 1,198,879.10 | | | — | | | 59,175.48 | | | 136,064.79 | | | 1,258,054.58 | | | 1,394,119.37 | | | (107,754.90 | ) | 1985 | | 30 Years | Slate Run I (Lou) | | Louisville, KY | | | — | | | 179,765.59 | | | 1,583,930.73 | | | — | | | 60,948.69 | | | 179,765.59 | | | 1,644,879.42 | | | 1,824,645.01 | | | (143,286.33 | ) | 1984 | | 30 Years | Slate Run II (Lou) | | Louisville, KY | | | 1,139,968.44 | | | 167,722.89 | | | 1,477,722.46 | | | — | | | 28,322.19 | | | 167,722.89 | | | 1,506,044.65 | | | 1,673,767.54 | | | (128,437.18 | ) | 1985 | | 30 Years | Smoketree Polo Club | | Indio, CA | | | 8,425,000.00 | | | 867,200.00 | | | 6,971,076.37 | | | — | | | 738,804.36 | | | 867,200.00 | | | 7,709,880.73 | | | 8,577,080.73 | | | (1,121,625.00 | ) | 1987-89 | | 30 Years | Sommerset Place | | Raleigh, NC | | | — | | | 360,000.00 | | | 7,800,205.70 | | | — | | | 266,457.98 | | | 360,000.00 | | | 8,066,663.68 | | | 8,426,663.68 | | | (980,508.89 | ) | 1983 | | 30 Years | Sonata at Cherry Creek | | Denver, CO | | | — | | | 5,490,000.00 | | | 18,130,479.26 | | | — | | | 102,396.24 | | | 5,490,000.00 | | | 18,232,875.50 | | | 23,722,875.50 | | | (721,776.75 | ) | 1999 | | 30 Years | Songbird | | San Antonio, TX | | | 6,231,299.17 | | | 1,082,500.00 | | | 9,733,790.98 | | | — | | | 1,314,252.02 | | | 1,082,500.00 | | | 11,048,043.00 | | | 12,130,543.00 | | | (2,460,006.11 | ) | 1981 | | 30 Years | Sonoran | | Phoenix, AZ | | | — | | | 2,361,922.00 | | | 31,841,723.63 | | | — | | | 609,899.29 | | | 2,361,922.00 | | | 32,451,622.92 | | | 34,813,544.92 | | | (4,816,563.34 | ) | 1995 | | 30 Years | Sonterra at Foothill Ranch | | Foothill Ranch, DA | | | 15,496,245.19 | | | 7,503,400.00 | | | 24,048,506.71 | | | — | | | 163,128.01 | | | 7,503,400.00 | | | 24,211,634.72 | | | 31,715,034.72 | | | (3,236,282.86 | ) | 1997 | | 30 Years | South Creek | | Phoenix, AZ | | | 14,885,762.84 | | | 2,671,300.00 | | | 24,042,041.82 | | | — | | | 1,466,378.90 | | | 2,671,300.00 | | | 25,508,420.72 | | | 28,179,720.72 | | | (5,528,499.13 | ) | 1986-89 | | 30 Years | South Pointe | | St. Louis, MO | | | 7,110,250.00 | | | 961,100.00 | | | 8,651,149.61 | | | — | | | 802,494.05 | | | 961,100.00 | | | 9,453,643.66 | | | 10,414,743.66 | | | (1,790,159.68 | ) | 1986 | | 30 Years | South Shore | | Stockton, CA | | | 6,833,000.00 | | | 840,000.00 | | | 6,057,952.19 | | | — | | | 248,527.30 | | | 840,000.00 | | | 6,306,479.49 | | | 7,146,479.49 | | | (140,324.39 | ) | 1979 | | 30 Years | Southwood | | Palo Alto, CA | | | — | | | 6,936,600.00 | | | 14,324,068.88 | | | — | | | 732,139.53 | | | 6,936,600.00 | | | 15,056,208.41 | | | 21,992,808.41 | | | (2,039,111.17 | ) | 1985 | | 30 Years | Spicewood | | Indianapolis, IN | | | 991,211.49 | | | 128,354.56 | | | 1,131,043.53 | | | — | | | 77,644.99 | | | 128,354.56 | | | 1,208,688.52 | | | 1,337,043.08 | | | (101,603.73 | ) | 1986 | | 30 Years | Spicewood Springs | | Jacksonville, FL | | | — | | | 1,536,000.00 | | | 21,138,008.81 | | | — | | | 2,565,633.08 | | | 1,536,000.00 | | | 23,703,641.89 | | | 25,239,641.89 | | | (3,114,213.15 | ) | 1986 | | 30 Years | Spinnaker Cove | | Hermitage, TN | | | — | | | 1,461,731.24 | | | 12,770,420.93 | | | — | | | 1,037,201.69 | | | 1,461,731.24 | | | 13,807,622.62 | | | 15,269,353.86 | | | (2,569,739.82 | ) | 1986 | | 30 Years | Spring Gate | | Springfield, FL | | | — | | | 132,951.42 | | | 1,171,446.91 | | | — | | | 211,427.02 | | | 132,951.42 | | | 1,382,873.93 | | | 1,515,825.35 | | | (136,913.18 | ) | 1983 | | 30 Years | Spring Hill Commons | | Acton, MA | | | — | | | 1,107,435.54 | | | 7,402,979.90 | | | — | | | 75,852.17 | | | 1,107,435.54 | | | 7,478,832.07 | | | 8,586,267.61 | | | (316,390.14 | ) | 1973 | | 30 Years | Spring Lake Manor | | Birmingham, AL (U) | | | 3,709,099.98 | | | 199,991.58 | | | 4,512,048.07 | | | — | | | 388,198.78 | | | 199,991.58 | | | 4,900,246.85 | | | 5,100,238.43 | | | (450,216.92 | ) | 1972 | | 30 Years | Springbrook | | Anderson, SC | | | 1,666,989.07 | | | 168,958.84 | | | 1,488,611.47 | | | — | | | 111,104.27 | | | 168,958.84 | | | 1,599,715.74 | | | 1,768,674.58 | | | (145,440.15 | ) | 1986 | | 30 Years | Springs Colony | | Altamonte Springs, FL | | | (P | ) | | 640,400.00 | | | 5,852,156.88 | | | — | | | 1,086,929.00 | | | 640,400.00 | | | 6,939,085.88 | | | 7,579,485.88 | | | (2,252,282.34 | ) | 1986 | | 30 Years | Springtree (REIT) | | W. Palm Beach, FL | | | 1,198,245.66 | | | 183,100.00 | | | 1,648,300.69 | | | — | | | 21,953.02 | | | 183,100.00 | | | 1,670,253.71 | | | 1,853,353.71 | | | (62,269.55 | ) | 1982 | | 30 Years | Springwood (Col) | | Columbus, OH | | | 1,051,769.83 | | | 189,947.71 | | | 1,672,888.81 | | | — | | | 81,898.29 | | | 189,947.71 | | | 1,754,787.10 | | | 1,944,734.81 | | | (152,601.60 | ) | 1983 | | 30 Years | Springwood (IN) | | New Haven, IN | | | 743,357.41 | | | 119,198.99 | | | 1,050,337.97 | | | — | | | 109,794.38 | | | 119,198.99 | | | 1,160,132.35 | | | 1,279,331.34 | | | (99,038.59 | ) | 1981 | | 30 Years | Steeplechase | | Charlotte, NC | | | — | | | 1,111,500.00 | | | 10,180,749.95 | | | — | | | 453,520.91 | | | 1,111,500.00 | | | 10,634,270.86 | | | 11,745,770.86 | | | (1,344,747.00 | ) | 1986 | | 30 Years | Sterling Point | | Littleton, CO | | | — | | | 935,500.00 | | | 8,419,199.52 | | | — | | | 446,679.06 | | | 935,500.00 | | | 8,865,878.58 | | | 9,801,378.58 | | | (1,544,161.93 | ) | 1979 | | 30 Years | Stewart Way I | | Hinesville, GA | | | 2,135,208.21 | | | 290,772.56 | | | 2,562,373.14 | | | — | | | 177,842.76 | | | 290,772.56 | | | 2,740,215.90 | | | 3,030,988.46 | | | (253,946.21 | ) | 1986 | | 30 Years | Stillwater | | Savannah, GA | | | 910,121.15 | | | 151,197.79 | | | 1,332,417.32 | | | — | | | 47,992.70 | | | 151,197.79 | | | 1,380,410.02 | | | 1,531,607.81 | | | (120,497.98 | ) | 1983 | | 30 Years | Stone Crossing | | Montgomery, AL (U) | | | 2,009,311.36 | | | 103,186.01 | | | 2,716,315.53 | | | — | | | 237,101.87 | | | 103,186.01 | | | 2,953,417.40 | | | 3,056,603.41 | | | (273,855.72 | ) | 1973 | | 30 Years | Stonehenge (Day) | | Dayton, OH | | | 1,134,126.05 | | | 202,293.85 | | | 1,782,140.24 | | | — | | | 147,203.20 | | | 202,293.85 | | | 1,929,343.44 | | | 2,131,637.29 | | | (164,577.63 | ) | 1985 | | 30 Years | Stonehenge (Ind) | | Indianapolis, IN | | | 1,170,688.31 | | | 146,810.32 | | | 1,293,558.94 | | | — | | | 129,045.40 | | | 146,810.32 | | | 1,422,604.34 | | | 1,569,414.66 | | | (142,558.39 | ) | 1984 | | 30 Years | Stonehenge (Jas) | | Jasper, IN | | | 420,823.40 | | | 78,334.74 | | | 690,214.46 | | | — | | | 35,340.46 | | | 78,334.74 | | | 725,554.92 | | | 803,889.66 | | | (64,242.83 | ) | 1985 | | 30 Years | Stonehenge (KY) | | Glasgow, KY | | | 775,924.01 | | | 111,631.60 | | | 983,596.05 | | | — | | | 54,548.03 | | | 111,631.60 | | | 1,038,144.08 | | | 1,149,775.68 | | | (95,285.40 | ) | 1983 | | 30 Years | Stonehenge (Mas) | | Massillon, OH | | | 601,790.89 | | | 145,386.28 | | | 1,281,011.57 | | | — | | | 95,900.96 | | | 145,386.28 | | | 1,376,912.53 | | | 1,522,298.81 | | | (123,026.89 | ) | 1984 | | 30 Years | Stonehenge (MI) | | Tecumseh, MI | | | 1,044,839.53 | | | 146,553.91 | | | 1,291,449.64 | | | — | | | 72,166.08 | | | 146,553.91 | | | 1,363,615.72 | | | 1,510,169.63 | | | (113,230.22 | ) | 1984 | | 30 Years | Stonehenge I (Ric) | | Richmond, IN | | | 1,096,252.13 | | | 156,342.98 | | | 1,377,552.00 | | | — | | | 199,547.81 | | | 156,342.98 | | | 1,577,099.81 | | | 1,733,442.79 | | | (139,279.74 | ) | 1984 | | 30 Years | Stoney Creek | | Lakewood, WA | | | — | | | 1,215,200.00 | | | 10,938,133.89 | | | — | | | 716,256.55 | | | 1,215,200.00 | | | 11,654,390.44 | | | 12,869,590.44 | | | (1,992,462.04 | ) | 1990 | | 30 Years | Stratford Square | | Winter Park, FL (U) | | | 4,976,334.07 | | | 391,300.00 | | | 3,176,441.37 | | | — | | | 210,332.96 | | | 391,300.00 | | | 3,386,774.33 | | | 3,778,074.33 | | | (317,384.75 | ) | 1972 | | 30 Years | Strawberry Place | | Plant City, FL | | | — | | | 78,444.76 | | | 691,183.84 | | | — | | | 88,180.15 | | | 78,444.76 | | | 779,363.99 | | | 857,808.75 | | | (76,977.94 | ) | 1982 | | 30 Years | Sturbridge Meadows | | Sturbridge, MA | | | 2,293,529.81 | | | 702,446.99 | | | 4,695,714.32 | | | — | | | 88,853.44 | | | 702,446.99 | | | 4,784,567.76 | | | 5,487,014.75 | | | (206,434.74 | ) | 1985 | | 30 Years | Suerte | | San Diego, CA | | | 18,291,416.96 | | | 8,160,000.00 | | | 29,360,938.17 | | | — | | | 125,626.66 | | | 8,160,000.00 | | | 29,486,564.83 | | | 37,646,564.83 | | | (1,116,925.99 | ) | 1990 | | 30 Years | Suffolk Grove I | | Grove City, OH | | | — | | | 214,106.74 | | | 1,886,414.73 | | | — | | | 89,330.45 | | | 214,106.74 | | | 1,975,745.18 | | | 2,189,851.92 | | | (167,181.69 | ) | 1985 | | 30 Years | Suffolk Grove II | | Grove City, OH | | | 1,012,102.90 | | | 167,682.97 | | | 1,477,568.67 | | | — | | | 38,931.54 | | | 167,682.97 | | | 1,516,500.21 | | | 1,684,183.18 | | | (127,588.87 | ) | 1987 | | 30 Years | Sugartree I | | New Smyna Beach, FL | | | 951,712.17 | | | 155,018.08 | | | 1,453,696.13 | | | — | | | 106,158.43 | | | 155,018.08 | | | 1,559,854.56 | | | 1,714,872.64 | | | (136,045.34 | ) | 1984 | | 30 Years | Summer Chase | | Denver, CO | | | 12,794,478.68 | | | 1,709,200.00 | | | 15,375,007.91 | | | — | | | 1,752,688.66 | | | 1,709,200.00 | | | 17,127,696.57 | | | 18,836,896.57 | | | (3,928,914.12 | ) | 1983 | | 30 Years | Summer Creek | | Plymouth, MN | | | 2,222,245.40 | | | 579,600.00 | | | 3,815,800.17 | | | — | | | 284,280.36 | | | 579,600.00 | | | 4,100,080.53 | | | 4,679,680.53 | | | (581,720.61 | ) | 1985 | | 30 Years | Summer Ridge | | Riverside, CA | | | — | | | 602,400.00 | | | 5,422,807.38 | | | — | | | 305,692.16 | | | 602,400.00 | | | 5,728,499.54 | | | 6,330,899.54 | | | (1,224,095.88 | ) | 1985 | | 30 Years | Summerhill Glen | | Maynard, MA | | | 2,023,574.82 | | | 415,812.01 | | | 2,779,618.15 | | | — | | | 124,016.67 | | | 415,812.01 | | | 2,903,634.82 | | | 3,319,446.83 | | | (137,849.40 | ) | 1980 | | 30 Years | Summerset Village | | Chatsworth, CA | | | 19,306,077.37 | | | 2,891,345.68 | | | 23,692,592.45 | | | — | | | 568,929.73 | | | 2,891,345.68 | | | 24,261,522.18 | | | 27,152,867.86 | | | (4,643,488.56 | ) | 1985 | | 30 Years | Summerwood | | Hayward, CA | | | — | | | 4,866,600.00 | | | 6,942,743.34 | | | — | | | 488,937.23 | | | 4,866,600.00 | | | 7,431,680.57 | | | 12,298,280.57 | | | (1,017,788.73 | ) | 1982 | | 30 Years | Summit & Birch Hill | | Farmington, CT | | | 7,286,123.00 | | | 1,757,437.88 | | | 11,748,112.49 | | | — | | | 78,917.15 | | | 1,757,437.88 | | | 11,827,029.64 | | | 13,584,467.52 | | | (501,178.98 | ) | 1967 | | 30 Years | Summit at Lake Union | | Seattle, WA | | | — | | | 1,424,700.00 | | | 12,852,461.39 | | | — | | | 958,386.00 | | | 1,424,700.00 | | | 13,810,847.39 | | | 15,235,547.39 | | | (2,353,930.17 | ) | 1995—1997 | | 30 Years | Summit Center (FL) | | W. Palm Beach, FL | | | 2,219,511.26 | | | 670,000.00 | | | 1,733,311.89 | | | — | | | 282,920.53 | | | 670,000.00 | | | 2,016,232.42 | | | 2,686,232.42 | | | (116,692.32 | ) | 1987 | | 30 Years | Summit Chase | | Coral Springs, FL | | | — | | | 1,122,100.00 | | | 4,431,710.99 | | | — | | | 514,155.19 | | | 1,122,100.00 | | | 4,945,866.18 | | | 6,067,966.18 | | | (1,058,009.28 | ) | 1985 | | 30 Years | Sun Creek | | Glendale, AZ | | | — | | | 896,929.00 | | | 7,066,939.86 | | | — | | | 301,620.11 | | | 896,929.00 | | | 7,368,559.97 | | | 8,265,488.97 | | | (1,161,504.14 | ) | 1985 | | 30 Years | Sunny Oak Village | | Overland Park, KS | | | 14,111,424.18 | | | 2,247,750.00 | | | 20,230,536.38 | | | — | | | 2,851,741.65 | | | 2,247,750.00 | | | 23,082,278.03 | | | 25,330,028.03 | | | (5,795,770.15 | ) | 1984 | | 30 Years | Sunnyside | | Tifton, GA | | | 1,293,809.89 | | | 166,887.10 | | | 1,470,612.23 | | | — | | | 159,033.39 | | | 166,887.10 | | | 1,629,645.62 | | | 1,796,532.72 | | | (143,143.59 | ) | 1984 | | 30 Years | Sunrise Springs | | Las Vegas, NV | | | — | | | 975,300.00 | | | 8,775,662.32 | | | — | | | 529,662.44 | | | 975,300.00 | | | 9,305,324.76 | | | 10,280,624.76 | | | (2,604,496.39 | ) | 1989 | | 30 Years | Sunset Way I | | Miami, FL | | | 1,564,299.73 | | | 258,567.91 | | | 2,278,539.10 | | | — | | | 219,429.40 | | | 258,567.91 | | | 2,497,968.50 | | | 2,756,536.41 | | | (214,894.59 | ) | 1987 | | 30 Years | Sunset Way II | | Miami, FL | | | 2,567,314.06 | | | 274,903.14 | | | 2,422,546.26 | | | — | | | 175,374.40 | | | 274,903.14 | | | 2,597,920.66 | | | 2,872,823.80 | | | (219,400.26 | ) | 1988 | | 30 Years | Suntree | | West Palm Beach, FL | | | — | | | 469,000.00 | | | 1,479,588.79 | | | — | | | 1,278.25 | | | 469,000.00 | | | 1,480,867.04 | | | 1,949,867.04 | | | (22,032.91 | ) | 1982 | | 30 Years | Suntree Village | | Oro Valley, AZ | | | — | | | 1,571,745.00 | | | 13,095,941.30 | | | — | | | 887,460.34 | | | 1,571,745.00 | | | 13,983,401.64 | | | 15,555,146.64 | | | (2,333,335.96 | ) | 1986 | | 30 Years | Surrey Downs | | Bellevue, WA | | | — | | | 3,057,100.00 | | | 7,848,618.09 | | | — | | | 317,326.74 | | | 3,057,100.00 | | | 8,165,944.83 | | | 11,223,044.83 | | | (1,058,943.45 | ) | 1986 | | 30 Years | Sutton Place | | Dallas, TX | | | — | | | 1,358,400.00 | | | 12,227,724.86 | | | — | | | 3,240,611.36 | | | 1,358,400.00 | | | 15,468,336.22 | | | 16,826,736.22 | | | (5,451,106.58 | ) | 1985 | | 30 Years | Sutton Place (FL) | | Lakeland, FL | | | 828,139.14 | | | 120,887.43 | | | 1,065,150.01 | | | — | | | 130,309.75 | | | 120,887.43 | | | 1,195,459.76 | | | 1,316,347.19 | | | (113,292.97 | ) | 1984 | | 30 Years | Sweetwater Glen | | Lawrenceville, GA | | | — | | | 500,000.00 | | | 10,469,749.09 | | | — | | | 320,788.03 | | | 500,000.00 | | | 10,790,537.12 | | | 11,290,537.12 | | | (1,315,234.28 | ) | 1986 | | 30 Years | Sycamore Creek | | Scottsdale, AZ | | | (E | ) | | 3,152,000.00 | | | 19,083,727.11 | | | — | | | 769,673.32 | | | 3,152,000.00 | | | 19,853,400.43 | | | 23,005,400.43 | | | (3,191,796.43 | ) | 1984 | | 30 Years | Tabor Ridge | | Berea, OH | | | — | | | 235,940.28 | | | 2,079,290.00 | | | — | | | 208,859.09 | | | 235,940.28 | | | 2,288,149.09 | | | 2,524,089.37 | | | (200,811.01 | ) | 1986 | | 30 Years | Talleyrand | | Tarrytown, NY | | | 36,500,000.00 | | | 12,000,000.00 | | | 49,522,408.25 | | | — | | | 2,662.58 | | | 12,000,000.00 | | | 49,525,070.83 | | | 61,525,070.83 | | | (299,560.04 | ) | 1997-98 | | 30 Years | Tamarlane | | Portland, ME | | | — | | | 690,900.00 | | | 5,153,632.57 | | | — | | | 230,658.71 | | | 690,900.00 | | | 5,384,291.28 | | | 6,075,191.28 | | | (962,626.79 | ) | 1986 | | 30 Years | Tanasbourne Terrace | | Hillsboro, OR | | | 12,258,262.41 | | | 1,876,700.00 | | | 16,891,204.54 | | | — | | | 1,732,941.35 | | | 1,876,700.00 | | | 18,624,145.89 | | | 20,500,845.89 | | | (5,404,089.61 | ) | 1986-89 | | 30 Years | Tanglewood (RI) | | West Warwick, RI | | | 6,537,748.18 | | | 1,141,415.46 | | | 7,630,128.68 | | | — | | | 60,881.10 | | | 1,141,415.46 | | | 7,691,009.78 | | | 8,832,425.24 | | | (335,754.52 | ) | 1973 | | 30 Years | Tanglewood (VA) | | Manassas, VA | | | 25,110,000.00 | | | 2,108,295.00 | | | 20,932,970.86 | | | — | | | 1,644,546.87 | | | 2,108,295.00 | | | 22,577,517.73 | | | 24,685,812.73 | | | (5,918,484.65 | ) | 1987 | | 30 Years | Terrace Trace | | Tampa, FL | | | 1,590,157.36 | | | 193,916.40 | | | 1,708,614.78 | | | — | | | 193,534.92 | | | 193,916.40 | | | 1,902,149.70 | | | 2,096,066.10 | | | (160,555.55 | ) | 1985 | | 30 Years | Three Chopt West | | Richmond, VA (U) | | | 8,407,726.28 | | | 432,956.59 | | | 8,256,577.14 | | | — | | | 181,426.24 | | | 432,956.59 | | | 8,438,003.38 | | | 8,870,959.97 | | | (688,100.02 | ) | 1962 | | 30 Years | Thymewood II | | Miami, FL | | | — | | | 219,660.95 | | | 1,936,463.36 | | | — | | | 126,183.40 | | | 219,660.95 | | | 2,062,646.76 | | | 2,282,307.71 | | | (164,793.56 | ) | 1986 | | 30 Years | Tierra Antigua | | Albuquerque, NM | | | 6,477,380.94 | | | 1,825,000.00 | | | 7,737,626.64 | | | — | | | 55,587.03 | | | 1,825,000.00 | | | 7,793,213.67 | | | 9,618,213.67 | | | (166,778.75 | ) | 1985 | | 30 Years |
S-10
Timber Hollow | | Chapel Hill, NC | | | — | | | 800,000.00 | | | 11,219,536.59 | | | — | | | 565,343.08 | | | 800,000.00 | | | 11,784,879.67 | | | 12,584,879.67 | | | (1,407,138.51 | ) | 1986 | | 30 Years | Timbercreek | | Toledo, OH | | | 1,498,004.43 | | | 203,419.77 | | | 1,792,349.87 | | | — | | | 86,625.48 | | | 203,419.77 | | | 1,878,975.35 | | | 2,082,395.12 | | | (158,843.37 | ) | 1987 | | 30 Years | Timberwalk | | Jacksonville, FL | | | — | | | 1,988,000.00 | | | 13,204,218.78 | | | — | | | 408,474.08 | | | 1,988,000.00 | | | 13,612,692.86 | | | 15,600,692.86 | | | (1,685,220.69 | ) | 1987 | | 30 Years | Timberwood | | Aurora, CO | | | — | | | 1,518,600.00 | | | 14,587,786.32 | | | — | | | 800,162.88 | | | 1,518,600.00 | | | 15,387,949.20 | | | 16,906,549.20 | | | (2,176,760.29 | ) | 1983 | | 30 Years | Timberwood (GA) | | Perry, GA | | | — | | | 144,299.39 | | | 1,271,304.85 | | | — | | | 58,663.80 | | | 144,299.39 | | | 1,329,968.65 | | | 1,474,268.04 | | | (116,161.68 | ) | 1985 | | 30 Years | Toscana | | Irvine, CA | | | — | | | 39,410,000.00 | | | 50,823,062.30 | | | — | | | 704,583.08 | | | 39,410,000.00 | | | 51,527,645.38 | | | 90,937,645.38 | | | (1,883,907.81 | ) | 1991/1993 | | 30 Years | Town & Country | | Birmingham, AL (U) | | | 2,341,799.87 | | | 147,122.73 | | | 2,610,973.58 | | | — | | | 183,850.84 | | | 147,122.73 | | | 2,794,824.42 | | | 2,941,947.15 | | | (251,125.90 | ) | 1973 | | 30 Years | Town Center (TX) | | Kingwood, TX | | | — | | | 1,291,300.00 | | | 11,530,216.18 | | | — | | | 335,878.87 | | | 1,291,300.00 | | | 11,866,095.05 | | | 13,157,395.05 | | | (2,134,832.42 | ) | 1994 | | 30 Years | Town Center II (TX) | | Kingwood, TX | | | — | | | 1,375,000.00 | | | 14,169,655.96 | | | — | | | 92,682.72 | | | 1,375,000.00 | | | 14,262,338.68 | | | 15,637,338.68 | | | (1,061,573.11 | ) | 1994 | | 30 Years | Townhomes of Meadowbrook | | Auburn Hills, MI | | | 9,846,293.88 | | | 1,382,600.00 | | | 12,366,207.39 | | | — | | | 1,720,515.03 | | | 1,382,600.00 | | | 14,086,722.42 | | | 15,469,322.42 | | | (1,944,044.56 | ) | 1988 | | 30 Years | Townhouse Park | | Richmond, VA (U) | | | 7,504,187.26 | | | 384,176.00 | | | 9,599,803.46 | | | — | | | 826,392.06 | | | 384,176.00 | | | 10,426,195.52 | | | 10,810,371.52 | | | (926,366.53 | ) | 1966 | | 30 Years | Trails (CO), The | | Aurora, CO | | | 11,162,361.50 | | | 1,217,900.00 | | | 8,877,204.73 | | | — | | | 2,013,356.50 | | | 1,217,900.00 | | | 10,890,561.23 | | | 12,108,461.23 | | | (3,863,798.67 | ) | 1986 | | 30 Years | Trails at Briar Forest | | Houston, TX | | | 13,575,460.57 | | | 2,380,000.00 | | | 24,911,560.72 | | | — | | | 565,356.08 | | | 2,380,000.00 | | | 25,476,916.80 | | | 27,856,916.80 | | | (3,088,461.75 | ) | 1990 | | 30 Years | Trails at Dominion Park | | Houston, TX | | | 24,066,836.60 | | | 2,531,800.00 | | | 35,699,589.07 | | | — | | | 2,052,774.23 | | | 2,531,800.00 | | | 37,752,363.30 | | | 40,284,163.30 | | | (6,933,995.31 | ) | 1992 | | 30 Years | Trailway Pond I | | Burnsville, MN | | | 4,909,210.00 | | | 479,284.26 | | | 4,312,143.56 | | | — | | | 309,758.04 | | | 479,284.26 | | | 4,621,901.60 | | | 5,101,185.86 | | | (738,242.05 | ) | 1988 | | 30 Years | Trailway Pond II | | Burnsville, MN | | | 11,354,755.00 | | | 1,107,287.54 | | | 9,961,408.87 | | | — | | | 377,533.88 | | | 1,107,287.54 | | | 10,338,942.75 | | | 11,446,230.29 | | | (1,588,820.90 | ) | 1988 | | 30 Years | Trinity Lakes | | Cordova, TN | | | (E | ) | | 1,982,000.00 | | | 14,941,745.65 | | | — | | | 799,963.65 | | | 1,982,000.00 | | | 15,741,709.30 | | | 17,723,709.30 | | | (2,596,662.96 | ) | 1985 | | 30 Years | Turf Club | | Littleton, CO | | | 9,520,000.00 | | | 2,107,300.00 | | | 15,478,040.20 | | | — | | | 1,398,493.30 | | | 2,107,300.00 | | | 16,876,533.50 | | | 18,983,833.50 | | | (2,456,863.63 | ) | 1986 | | 30 Years | Turkscap I | | Brandon, FL | | | — | | | 125,766.44 | | | 1,108,139.39 | | | — | | | 250,845.98 | | | 125,766.44 | | | 1,358,985.37 | | | 1,484,751.81 | | | (128,891.62 | ) | 1977 | | 30 Years | Turkscap III | | Brandon, FL | | | 750,694.28 | | | 135,850.08 | | | 1,196,987.24 | | | — | | | 76,598.79 | | | 135,850.08 | | | 1,273,586.03 | | | 1,409,436.11 | | | (112,694.83 | ) | 1982 | | 30 Years | Twin Gates | | Birmingham, AL (U) | | | 4,833,400.20 | | | 273,144.27 | | | 4,826,938.66 | | | — | | | 189,655.04 | | | 273,144.27 | | | 5,016,593.70 | | | 5,289,737.97 | | | (444,585.80 | ) | 1967 | | 30 Years | Tyrone Gardens | | Randolph, MA | | | — | | | 4,953,000.00 | | | 5,799,572.09 | | | — | | | 508,972.52 | | | 4,953,000.00 | | | 6,308,544.61 | | | 11,261,544.61 | | | (858,818.07 | ) | 1961/1965 | | 30 Years | University Square I | | Tampa, FL | | | 884,927.57 | | | 197,456.54 | | | 1,739,807.29 | | | — | | | 63,720.25 | | | 197,456.54 | | | 1,803,527.54 | | | 2,000,984.08 | | | (153,377.42 | ) | 1979 | | 30 Years | Valencia Plantation | | Orlando, FL | | | — | | | 873,000.00 | | | 12,819,377.37 | | | — | | | 157,765.42 | | | 873,000.00 | | | 12,977,142.79 | | | 13,850,142.79 | | | (1,510,827.81 | ) | 1990 | | 30 Years | Valley Creek I | | Woodbury, MN | | | 12,815,000.00 | | | 1,626,715.30 | | | 14,634,831.43 | | | — | | | 924,519.69 | | | 1,626,715.30 | | | 15,559,351.12 | | | 17,186,066.42 | | | (2,419,858.43 | ) | 1989 | | 30 Years | Valley Creek II | | Woodbury, MN | | | 10,100,000.00 | | | 1,232,659.25 | | | 11,097,830.18 | | | — | | | 376,310.22 | | | 1,232,659.25 | | | 11,474,140.40 | | | 12,706,799.65 | | | (1,731,237.98 | ) | 1990 | | 30 Years | Valleybrook | | Newnan, GA | | | 1,475,136.52 | | | 254,490.09 | | | 2,242,463.08 | | | — | | | 52,113.23 | | | 254,490.09 | | | 2,294,576.31 | | | 2,549,066.40 | | | (192,385.58 | ) | 1986 | | 30 Years | Valleyfield (KY) | | Lexington, KY | | | 1,792,533.69 | | | 252,328.74 | | | 2,223,757.07 | | | — | | | 206,528.50 | | | 252,328.74 | | | 2,430,285.57 | | | 2,682,614.31 | | | (209,911.51 | ) | 1985 | | 30 Years | Valleyfield (PA) | | Bridgeville, PA | | | — | | | 274,316.67 | | | 2,417,028.77 | | | — | | | 188,881.62 | | | 274,316.67 | | | 2,605,910.39 | | | 2,880,227.06 | | | (220,671.58 | ) | 1985 | | 30 Years | Valleyfield I | | Decatur, GA | | | 1,577,047.66 | | | 252,413.03 | | | 2,224,133.89 | | | — | | | 130,378.94 | | | 252,413.03 | | | 2,354,512.83 | | | 2,606,925.86 | | | (195,848.82 | ) | 1984 | | 30 Years | Valleyfield II | | Decatur, GA | | | — | | | 258,320.37 | | | 2,276,083.97 | | | — | | | 91,790.84 | | | 258,320.37 | | | 2,367,874.81 | | | 2,626,195.18 | | | (192,058.98 | ) | 1985 | | 30 Years | Van Deene Manor | | West Springfield, MA | | | 3,071,031.00 | | | 744,491.11 | | | 4,976,770.67 | | | — | | | 31,574.87 | | | 744,491.11 | | | 5,008,345.54 | | | 5,752,836.65 | | | (217,703.84 | ) | 1970 | | 30 Years | Via Ventura | | Scottsdale, AZ | | | (E | ) | | 1,486,600.00 | | | 13,382,005.92 | | | — | | | 5,874,753.10 | | | 1,486,600.00 | | | 19,256,759.02 | | | 20,743,359.02 | | | (6,205,353.34 | ) | 1980 | | 30 Years | Villa Encanto | | Phoenix, AZ | | | 11,963,000.00 | | | 2,884,447.00 | | | 22,197,362.84 | | | — | | | 1,338,947.47 | | | 2,884,447.00 | | | 23,536,310.31 | | | 26,420,757.31 | | | (3,778,895.99 | ) | 1983 | | 30 Years | Villa Solana | | Laguna Hills, CA | | | — | | | 1,665,100.00 | | | 14,985,677.51 | | | — | | | 1,660,693.31 | | | 1,665,100.00 | | | 16,646,370.82 | | | 18,311,470.82 | | | (4,955,419.62 | ) | 1984 | | 30 Years | Village at Bear Creek | | Lakewood, CO | | | 20,013,136.61 | | | 4,519,700.00 | | | 40,676,389.86 | | | — | | | 708,577.58 | | | 4,519,700.00 | | | 41,384,967.44 | | | 45,904,667.44 | | | (6,795,439.50 | ) | 1987 | | 30 Years | Village at Lakewood | | Phoenix, AZ | | | (M | ) | | 3,166,411.00 | | | 13,859,089.81 | | | — | | | 613,327.97 | | | 3,166,411.00 | | | 14,472,417.78 | | | 17,638,828.78 | | | (2,330,151.94 | ) | 1988 | | 30 Years | Village at Tanque Verde | | Tucson, AZ | | | (M | ) | | 1,434,838.00 | | | 7,134,637.58 | | | — | | | 548,289.11 | | | 1,434,838.00 | | | 7,682,926.69 | | | 9,117,764.69 | | | (1,324,253.01 | ) | 1984-1994 | | 30 Years | Village Oaks | | Austin, TX | | | 4,562,265.80 | | | 1,186,000.00 | | | 10,663,736.24 | | | — | | | 858,286.83 | | | 1,186,000.00 | | | 11,522,023.07 | | | 12,708,023.07 | | | (2,451,986.12 | ) | 1984 | | 30 Years | Village of Newport | | Kent, WA | | | — | | | 416,300.00 | | | 3,756,582.21 | | | — | | | 440,884.44 | | | 416,300.00 | | | 4,197,466.65 | | | 4,613,766.65 | | | (1,231,847.87 | ) | 1987 | | 30 Years | Villas at Josey Ranch | | Carrollton, TX | | | 6,584,261.03 | | | 1,587,700.00 | | | 7,254,727.19 | | | — | | | 583,855.82 | | | 1,587,700.00 | | | 7,838,583.01 | | | 9,426,283.01 | | | (1,103,355.23 | ) | 1986 | | 30 Years | Villas of Oak Creste | | San Antonio, TX | | | — | | | 905,800.00 | | | 8,151,737.96 | | | — | | | 922,123.70 | | | 905,800.00 | | | 9,073,861.66 | | | 9,979,661.66 | | | (1,823,293.26 | ) | 1979 | | 30 Years | Viridian Lake | | Fort Myers, FL | | | — | | | 960,000.00 | | | 17,806,757.92 | | | — | | | 1,006,022.02 | | | 960,000.00 | | | 18,812,779.94 | | | 19,772,779.94 | | | (2,284,494.66 | ) | 1991 | | 30 Years | Vista Del Lago | | Mission Viejo, CA | | | 29,779,124.37 | | | 4,525,800.00 | | | 40,736,293.14 | | | — | | | 3,119,563.10 | | | 4,525,800.00 | | | 43,855,856.24 | | | 48,381,656.24 | | | (12,705,647.22 | ) | 1986-88 | | 30 Years | Vista Del Lago (TX) | | Dallas, TX | | | — | | | 3,552,000.00 | | | 20,107,928.23 | | | — | | | 14,791.22 | | | 3,552,000.00 | | | 20,122,719.45 | | | 23,674,719.45 | | | (204,600.87 | ) | 1992 | | 30 Years | Vista Grove | | Mesa, AZ | | | — | | | 1,341,796.00 | | | 12,157,045.12 | | | — | | | 256,176.60 | | | 1,341,796.00 | | | 12,413,221.72 | | | 13,755,017.72 | | | (1,691,173.02 | ) | 1997—1998 | | 30 Years | Walden Wood | | Southfield, MI | | | 5,486,443.33 | | | 834,700.00 | | | 7,513,690.33 | | | — | | | 1,675,131.66 | | | 834,700.00 | | | 9,188,821.99 | | | 10,023,521.99 | | | (3,090,558.66 | ) | 1972 | | 30 Years | Warwick Station | | Westminster, CO | | | 8,973,000.00 | | | 2,282,000.00 | | | 20,543,194.91 | | | — | | | 424,491.90 | | | 2,282,000.00 | | | 20,967,686.81 | | | 23,249,686.81 | | | (3,556,599.87 | ) | 1986 | | 30 Years | Waterbury (GA) | | Athens, GA | | | — | | | 147,450.03 | | | 1,299,195.48 | | | — | | | 27,368.43 | | | 147,450.03 | | | 1,326,563.91 | | | 1,474,013.94 | | | (112,607.45 | ) | 1985 | | 30 Years | Waterbury (IN) | | Greenwood, IN | | | 804,848.27 | | | 105,245.15 | | | 927,324.45 | | | — | | | 67,165.58 | | | 105,245.15 | | | 994,490.03 | | | 1,099,735.18 | | | (88,410.83 | ) | 1984 | | 30 Years | Waterbury (MI) | | Westland, MI | | | 2,030,514.79 | | | 331,738.84 | | | 2,922,588.70 | | | — | | | 172,470.89 | | | 331,738.84 | | | 3,095,059.59 | | | 3,426,798.43 | | | (265,638.64 | ) | 1985 | | 30 Years | Waterbury (OH) | | Cincinnati, OH | | | — | | | 193,166.67 | | | 1,701,833.85 | | | — | | | 197,917.60 | | | 193,166.67 | | | 1,899,751.45 | | | 2,092,918.12 | | | (170,725.24 | ) | 1985 | | 30 Years | Waterbury (TN) | | Clarksville, TN | | | — | | | 116,967.54 | | | 1,031,171.54 | | | — | | | 46,147.29 | | | 116,967.54 | | | 1,077,318.83 | | | 1,194,286.37 | | | (96,717.85 | ) | 1985 | | 30 Years | Waterfield Square I | | Stockton, CA | | | 6,923,000.00 | | | 950,000.00 | | | 5,805,116.30 | | | — | | | 31,883.92 | | | 950,000.00 | | | 5,837,000.22 | | | 6,787,000.22 | | | (139,400.60 | ) | 1984 | | 30 Years | Waterfield Square II | | Stockton, CA | | | 6,595,000.00 | | | 845,000.00 | | | 5,314,072.44 | | | — | | | 22,445.09 | | | 845,000.00 | | | 5,336,517.53 | | | 6,181,517.53 | | | (128,188.87 | ) | 1984 | | 30 Years | Waterford (Jax) | | Jacksonville, FL | | | — | | | 3,550,922.50 | | | 23,716,533.06 | | | — | | | 1,006,809.56 | | | 3,550,922.50 | | | 24,723,342.62 | | | 28,274,265.12 | | | (3,086,724.74 | ) | 1988 | | 30 Years | Waterford at Deerwood | | Jacksonville, FL | | | 10,456,047.51 | | | 1,696,000.00 | | | 10,659,701.84 | | | — | | | 595,683.12 | | | 1,696,000.00 | | | 11,255,384.96 | | | 12,951,384.96 | | | (1,472,015.47 | ) | 1985 | | 30 Years | Waterford at Orange Park | | Orange Park, FL | | | 9,540,000.00 | | | 1,960,000.00 | | | 12,098,784.47 | | | — | | | 1,124,297.33 | | | 1,960,000.00 | | | 13,223,081.80 | | | 15,183,081.80 | | | (1,946,885.18 | ) | 1986 | | 30 Years | Waterford at Regency | | Jacksonville, FL | | | 7,024,453.13 | | | 1,113,000.00 | | | 5,184,161.74 | | | — | | | 241,267.29 | | | 1,113,000.00 | | | 5,425,429.03 | | | 6,538,429.03 | | | (727,977.61 | ) | 1985 | | 30 Years | Waterford at the Lakes | | Kent, WA | | | — | | | 3,100,200.00 | | | 16,140,923.73 | | | — | | | 907,400.06 | | | 3,100,200.00 | | | 17,048,323.79 | | | 20,148,523.79 | | | (3,087,713.54 | ) | 1990 | | 30 Years | Waterford Village (Broward) | | Delray Beach, FL | | | — | | | 1,888,000.00 | | | 15,358,635.40 | | | — | | | 1,700,690.53 | | | 1,888,000.00 | | | 17,059,325.93 | | | 18,947,325.93 | | | (2,303,045.22 | ) | 1989 | | 30 Years | Watermark Square | | Portland, OR | | | 7,508,710.60 | | | 1,580,500.00 | | | 14,194,258.85 | | | — | | | 1,442,061.33 | | | 1,580,500.00 | | | 15,636,320.18 | | | 17,216,820.18 | | | (3,108,788.98 | ) | 1990 | | 30 Years | Waterstone Place | | Federal Way, WA | | | — | | | 2,964,000.00 | | | 26,674,598.90 | | | — | | | 3,817,909.68 | | | 2,964,000.00 | | | 30,492,508.58 | | | 33,456,508.58 | | | (9,811,026.13 | ) | 1990 | | 30 Years | Webster Green | | Needham, MA | | | 6,468,224.78 | | | 1,418,892.54 | | | 9,485,006.17 | | | — | | | 79,304.73 | | | 1,418,892.54 | | | 9,564,310.90 | | | 10,983,203.44 | | | (389,424.93 | ) | 1985 | | 30 Years | Welleby Lake Club | | Sunrise, FL | | | — | | | 3,648,000.00 | | | 17,620,879.42 | | | — | | | 442,951.95 | | | 3,648,000.00 | | | 18,063,831.37 | | | 21,711,831.37 | | | (2,177,635.89 | ) | 1991 | | 30 Years | Wellington (WA) | | Silverdale, WA | | | — | | | 1,099,300.00 | | | 9,883,302.82 | | | — | | | 856,327.28 | | | 1,099,300.00 | | | 10,739,630.10 | | | 11,838,930.10 | | | (2,839,757.09 | ) | 1990 | | 30 Years | Wellington Hill | | Manchester, NH | | | (P | ) | | 1,890,200.00 | | | 17,120,661.97 | | | — | | | 2,290,520.96 | | | 1,890,200.00 | | | 19,411,182.93 | | | 21,301,382.93 | | | (5,908,304.89 | ) | 1987 | | 30 Years | Wellsford Oaks | | Tulsa, OK | | | — | | | 1,310,500.00 | | | 11,794,289.56 | | | — | | | 507,799.26 | | | 1,310,500.00 | | | 12,302,088.82 | | | 13,612,588.82 | | | (2,180,728.33 | ) | 1991 | | 30 Years | Wentworth | | Roseville, MI | | | — | | | 217,502.26 | | | 1,916,231.96 | | | — | | | 114,474.06 | | | 217,502.26 | | | 2,030,706.02 | | | 2,248,208.28 | | | (174,120.63 | ) | 1985 | | 30 Years | West Of Eastland | | Columbus, OH | | | 1,970,342.40 | | | 234,543.74 | | | 2,066,674.99 | | | — | | | 133,717.26 | | | 234,543.74 | | | 2,200,392.25 | | | 2,434,935.99 | | | (205,756.04 | ) | 1977 | | 30 Years | Westbrook Village | | Manchester, MO | | | — | | | 2,310,000.00 | | | 10,606,342.76 | | | — | | | 482,360.63 | | | 2,310,000.00 | | | 11,088,703.39 | | | 13,398,703.39 | | | (1,145,334.22 | ) | 1984 | | 30 Years | Westcreek | | Jacksonville, FL | | | — | | | 185,199.13 | | | 1,632,256.15 | | | — | | | 126,813.22 | | | 185,199.13 | | | 1,759,069.37 | | | 1,944,268.50 | | | (155,867.27 | ) | 1986 | | 30 Years | Westridge | | Tacoma, WA | | | — | | | 3,501,900.00 | | | 31,506,082.24 | | | — | | | 1,941,572.94 | | | 3,501,900.00 | | | 33,447,655.18 | | | 36,949,555.18 | | | (5,912,766.43 | ) | 1987/1991 | | 30 Years | Westside Villas I | | Los Angeles, CA | | | — | | | 1,785,000.00 | | | 3,234,812.08 | | | — | | | 14,818.51 | | | 1,785,000.00 | | | 3,249,630.59 | | | 5,034,630.59 | | | (145,635.55 | ) | 1999 | | 30 Years | Westside Villas II | | Los Angeles, CA | | | — | | | 1,955,000.00 | | | 3,542,992.78 | | | — | | | 11,214.24 | | | 1,955,000.00 | | | 3,554,207.02 | | | 5,509,207.02 | | | (159,555.78 | ) | 1999 | | 30 Years | Westside Villas III | | Los Angeles, CA | | | — | | | 3,060,000.00 | | | 5,541,727.38 | | | — | | | 24,024.71 | | | 3,060,000.00 | | | 5,565,752.09 | | | 8,625,752.09 | | | (250,899.10 | ) | 1999 | | 30 Years | Westside Villas IV | | Los Angeles, CA | | | — | | | 3,060,000.00 | | | 5,541,727.39 | | | — | | | 11,124.23 | | | 3,060,000.00 | | | 5,552,851.62 | | | 8,612,851.62 | | | (248,692.73 | ) | 1999 | | 30 Years | Westside Villas V | | Los Angeles, CA | | | — | | | 5,100,000.00 | | | 9,230,717.47 | | | — | | | 22,350.36 | | | 5,100,000.00 | | | 9,253,067.83 | | | 14,353,067.83 | | | (414,667.23 | ) | 1999 | | 30 Years | Westside Villas VI | | Los Angeles, CA | | | — | | | 1,530,000.00 | | | 3,025,559.20 | | | — | | | 6,651.59 | | | 1,530,000.00 | | | 3,032,210.79 | | | 4,562,210.79 | | | (98,089.53 | ) | 1989 | | 30 Years | Westway | | Brunswick, GA | | | — | | | 168,322.68 | | | 1,483,106.21 | | | — | | | 91,285.65 | | | 168,322.68 | | | 1,574,391.86 | | | 1,742,714.54 | | | (143,804.67 | ) | 1984 | | 30 Years | Westwood Glen | | Westwood, MA | | | 4,279,128.49 | | | 1,616,504.78 | | | 10,806,003.53 | | | — | | | 83,343.23 | | | 1,616,504.78 | | | 10,889,346.76 | | | 12,505,851.54 | | | (459,102.00 | ) | 1972 | | 30 Years | Westwood Pines | | Tamarac, FL | | | — | | | 1,528,600.00 | | | 13,739,616.00 | | | — | | | 604,351.10 | | | 1,528,600.00 | | | 14,343,967.10 | | | 15,872,567.10 | | | (2,221,111.08 | ) | 1991 | | 30 Years | Westwynd Apts | | West Hartford, CT | | | — | | | 308,543.13 | | | 2,062,547.68 | | | — | | | 19,645.22 | | | 308,543.13 | | | 2,082,192.90 | | | 2,390,736.03 | | | (90,951.07 | ) | 1969 | | 30 Years | Whispering Oaks | | Walnut Creek, CA | | | 10,477,988.96 | | | 2,170,800.00 | | | 19,539,586.15 | | | — | | | 1,684,485.82 | | | 2,170,800.00 | | | 21,224,071.97 | | | 23,394,871.97 | | | (4,333,994.39 | ) | 1974 | | 30 Years | Whispering Pines | | Fr. Pierce, FL | | | — | | | 384,000.00 | | | 621,367.08 | | | — | | | 179,139.59 | | | 384,000.00 | | | 800,506.67 | | | 1,184,506.67 | | | (48,541.54 | ) | 1986 | | 30 Years | Whispering Pines II | | Fr. Pierce, FL | | | — | | | 105,171.51 | | | 926,475.58 | | | — | | | 122,513.08 | | | 105,171.51 | | | 1,048,988.66 | | | 1,154,160.17 | | | (90,205.71 | ) | 1986 | | 30 Years | Whisperwood | | Cordele, GA | | | — | | | 84,240.30 | | | 742,373.88 | | | — | | | 79,651.51 | | | 84,240.30 | | | 822,025.39 | | | 906,265.69 | | | (77,664.07 | ) | 1985 | | 30 Years | White Bear Woods | | White Bear Lake, MN | | | 14,172,876.00 | | | 1,624,740.73 | | | 14,618,489.69 | | | — | | | 571,835.40 | | | 1,624,740.73 | | | 15,190,325.09 | | | 16,815,065.82 | | | (2,309,007.15 | ) | 1989 | | 30 Years | Wilcrest Woods | | Savannah, GA | | | 1,309,914.36 | | | 187,306.36 | | | 1,650,373.13 | | | — | | | 66,511.43 | | | 187,306.36 | | | 1,716,884.56 | | | 1,904,190.92 | | | (150,728.84 | ) | 1986 | | 30 Years | Wilde Lake | | Richmond, VA | | | 4,440,000.00 | | | 947,200.00 | | | 8,594,105.46 | | | — | | | 667,404.61 | | | 947,200.00 | | | 9,261,510.07 | | | 10,208,710.07 | | | (1,859,072.25 | ) | 1989 | | 30 Years | Wilkins Glen | | Medfield, MA | | | 1,806,507.67 | | | 538,482.64 | | | 3,599,646.22 | | | — | | | 26,345.38 | | | 538,482.64 | | | 3,625,991.60 | | | 4,164,474.24 | | | (160,998.25 | ) | 1975 | | 30 Years | Willow Brook (CA) | | Pleasant Hill, CA | | | 29,000,000.00 | | | 5,055,000.00 | | | 17,580,609.02 | | | — | | | 53,086.90 | | | 5,055,000.00 | | | 17,633,695.92 | | | 22,688,695.92 | | | (349,050.35 | ) | 1985 | | 30 Years | Willow Creek | | Fresno, CA | | | 5,112,000.00 | | | 275,000.00 | | | 4,748,769.13 | | | — | | | 24,335.46 | | | 275,000.00 | | | 4,773,104.59 | | | 5,048,104.59 | | | (108,885.87 | ) | 1984 | | 30 Years | Willow Creek I (GA) | | Griffin, GA | | | 802,655.90 | | | 145,768.69 | | | 1,298,973.46 | | | — | | | 29,183.39 | | | 145,768.69 | | | 1,328,156.85 | | | 1,473,925.54 | | | (112,370.19 | ) | 1985 | | 30 Years | Willow Lakes | | Spartanburg, SC | | | 2,007,998.42 | | | 200,989.58 | | | 1,770,937.26 | | | — | | | 74,737.96 | | | 200,989.58 | | | 1,845,675.22 | | | 2,046,664.80 | | | (166,325.39 | ) | 1986 | | 30 Years | Willow Run (GA) | | Stone Mountain, GA | | | 1,689,276.69 | | | 197,964.94 | | | 1,744,286.82 | | | — | | | 147,738.23 | | | 197,964.94 | | | 1,892,025.05 | | | 2,089,989.99 | | | (173,509.72 | ) | 1983 | | 30 Years | Willow Run (IN) | | New Albany, IN | | | 1,104,174.80 | | | 183,872.68 | | | 1,620,118.73 | | | — | | | 98,227.25 | | | 183,872.68 | | | 1,718,345.98 | | | 1,902,218.66 | | | (149,746.20 | ) | 1984 | | 30 Years | Willow Run (KY) | | Madisonville, KY | | | 1,101,687.43 | | | 141,015.67 | | | 1,242,351.72 | | | — | | | 75,584.54 | | | 141,015.67 | | | 1,317,936.26 | | | 1,458,951.93 | | | (118,875.17 | ) | 1984 | | 30 Years | Willow Trail | | Norcross, GA | | | — | | | 1,120,000.00 | | | 11,412,981.59 | | | — | | | 299,719.76 | | | 1,120,000.00 | | | 11,712,701.35 | | | 12,832,701.35 | | | (1,424,714.96 | ) | 1985 | | 30 Years | Willowick | | Aurora, CO | | | — | | | 506,900.00 | | | 4,157,878.35 | | | — | | | 263,746.61 | | | 506,900.00 | | | 4,421,624.96 | | | 4,928,524.96 | | | (639,753.98 | ) | 1980 | | 30 Years | Will-O-Wisp | | Kinston, NC (U) | | | 3,518,463.40 | | | 197,397.72 | | | 3,926,972.16 | | | — | | | 160,283.53 | | | 197,397.72 | | | 4,087,255.69 | | | 4,284,653.41 | | | (353,364.79 | ) | 1970 | | 30 Years | Willowood East II | | Indianapolis, IN | | | 757,110.80 | | | 104,917.75 | | | 924,589.72 | | | — | | | 110,229.39 | | | 104,917.75 | | | 1,034,819.11 | | | 1,139,736.86 | | | (103,845.58 | ) | 1985 | | 30 Years | Willowood I (Gro) | | Grove City, OH | | | 924,692.66 | | | 126,045.04 | | | 1,110,558.13 | | | — | | | 62,448.37 | | | 126,045.04 | | | 1,173,006.50 | | | 1,299,051.54 | | | (100,308.62 | ) | 1984 | | 30 Years | Willowood I (IN) | | Columbus, OH | | | 1,121,126.63 | | | 163,896.17 | | | 1,444,103.85 | | | — | | | 70,898.96 | | | 163,896.17 | | | 1,515,002.81 | | | 1,678,898.98 | | | (128,730.08 | ) | 1983 | | 30 Years | Willowood I (KY) | | Frankfort, KY | | | 990,683.22 | | | 138,822.38 | | | 1,223,176.43 | | | — | | | 74,224.34 | | | 138,822.38 | | | 1,297,400.77 | | | 1,436,223.15 | | | (112,421.58 | ) | 1984 | | 30 Years | Willowood I (Woo) | | Wooster, OH | | | — | | | 117,254.13 | | | 1,033,136.63 | | | — | | | 46,907.43 | | | 117,254.13 | | | 1,080,044.06 | | | 1,197,298.19 | | | (95,517.18 | ) | 1984 | | 30 Years | Willowood II (Gro) | | Grove City, OH | | | 539,004.46 | | | 70,923.51 | | | 624,814.43 | | | — | | | 43,168.75 | | | 70,923.51 | | | 667,983.18 | | | 738,906.69 | | | (58,040.26 | ) | 1985 | | 30 Years | Willowood II (IN) | | Columbus, OH | | | 1,129,495.15 | | | 161,306.27 | | | 1,421,284.06 | | | — | | | 59,399.99 | | | 161,306.27 | | | 1,480,684.05 | | | 1,641,990.32 | | | (128,008.61 | ) | 1986 | | 30 Years | Willowood II (KY) | | Frankfort, KY | | | 821,067.37 | | | 120,375.49 | | | 1,060,639.21 | | | — | | | 31,120.19 | | | 120,375.49 | | | 1,091,759.40 | | | 1,212,134.89 | | | (93,251.47 | ) | 1985 | | 30 Years | Willowood II (Tro) | | Trotwood, OH | | | 879,327.29 | | | 142,623.37 | | | 1,256,667.34 | | | — | | | 76,474.59 | | | 142,623.37 | | | 1,333,141.93 | | | 1,475,765.30 | | | (116,265.30 | ) | 1987 | | 30 Years | Willowood II (Woo) | | Wooster, OH | | | 848,000.89 | | | 103,199.14 | | | 909,397.90 | | | — | | | 92,905.93 | | | 103,199.14 | | | 1,002,303.83 | | | 1,105,502.97 | | | (93,658.19 | ) | 1986 | | 30 Years | Willows I (OH), The | | Columbus, OH | | | — | | | 76,283.41 | | | 672,339.99 | | | — | | | 46,197.49 | | | 76,283.41 | | | 718,537.48 | | | 794,820.89 | | | (68,423.15 | ) | 1987 | | 30 Years | Willows II (OH), The | | Columbus, OH | | | 617,519.56 | | | 96,678.71 | | | 851,844.82 | | | — | | | 33,812.18 | | | 96,678.71 | | | 885,657.00 | | | 982,335.71 | | | (78,771.88 | ) | 1981 | | 30 Years | Willows III (OH), The | | Columbus, OH | | | 846,654.63 | | | 129,221.40 | | | 1,137,783.40 | | | — | | | 64,420.66 | | | 129,221.40 | | | 1,202,204.06 | | | 1,331,425.46 | | | (101,987.99 | ) | 1987 | | 30 Years | Wimberly | | Dallas, TX | | | — | | | 2,232,000.00 | | | 27,685,923.27 | | | — | | | 346,586.89 | | | 2,232,000.00 | | | 28,032,510.16 | | | 30,264,510.16 | | | (3,238,565.43 | ) | 1996 | | 30 Years | Wimbledon Oaks | | Arlington, TX | | | 7,258,525.27 | | | 1,491,700.00 | | | 8,843,716.03 | | | — | | | 631,521.52 | | | 1,491,700.00 | | | 9,475,237.55 | | | 10,966,937.55 | | | (1,332,114.08 | ) | 1985 | | 30 Years | Winchester Park | | Riverside, RI | | | — | | | 2,822,618.35 | | | 18,868,625.90 | | | — | | | 965,359.11 | | | 2,822,618.35 | | | 19,833,985.01 | | | 22,656,603.36 | | | (904,481.15 | ) | 1972 | | 30 Years | Winchester Wood | | Riverside, RI | | | 2,252,892.08 | | | 683,215.23 | | | 4,567,153.97 | | | — | | | 65,292.49 | | | 683,215.23 | | | 4,632,446.46 | | | 5,315,661.69 | | | (192,001.39 | ) | 1989 | | 30 Years | Windemere | | Mesa, AZ | | | — | | | 949,300.00 | | | 8,659,280.22 | | | — | | | 964,549.58 | | | 949,300.00 | | | 9,623,829.80 | | | 10,573,129.80 | | | (1,861,315.08 | ) | 1986 | | 30 Years | Windmont | | Atlanta, GA | | | — | | | 3,204,000.00 | | | 7,128,448.37 | | | — | | | 105,121.25 | | | 3,204,000.00 | | | 7,233,569.62 | | | 10,437,569.62 | | | (541,616.38 | ) | 1988 | | 30 Years | Windridge (CA) | | Laguna Niguel, CA | | | (L | ) | | 2,662,900.00 | | | 23,985,496.57 | | | — | | | 1,171,309.66 | | | 2,662,900.00 | | | 25,156,806.23 | | | 27,819,706.23 | | | (6,656,339.26 | ) | 1989 | | 30 Years | Windridge (GA) | | Dunwoody, GA | | | — | | | 1,224,000.00 | | | 13,627,761.75 | | | — | | | 750,702.05 | | | 1,224,000.00 | | | 14,378,463.80 | | | 15,602,463.80 | | | (1,798,540.35 | ) | 1982 | | 30 Years | Windwood I (FL) | | Palm Bay, FL | | | — | | | 113,912.73 | | | 1,003,498.28 | | | — | | | 172,454.67 | | | 113,912.73 | | | 1,175,952.95 | | | 1,289,865.68 | | | (108,773.39 | ) | 1988 | | 30 Years | Windwood II (FL) | | Palm Bay, FL | | | 190,000.00 | | | 118,915.07 | | | 1,047,598.32 | | | — | | | 249,746.96 | | | 118,915.07 | | | 1,297,345.28 | | | 1,416,260.35 | | | (122,223.77 | ) | 1987 | | 30 Years | Wingwood (Orl) | | Orlando, FL | | | 1,448,501.01 | | | 236,884.32 | | | 2,086,401.61 | | | — | | | 266,451.96 | | | 236,884.32 | | | 2,352,853.57 | | | 2,589,737.89 | | | (204,436.14 | ) | 1980 | | 30 Years | Winter Woods I (FL) | | Winter Garden, FL | | | — | | | 144,921.36 | | | 1,276,965.11 | | | — | | | 111,317.21 | | | 144,921.36 | | | 1,388,282.32 | | | 1,533,203.68 | | | (124,586.34 | ) | 1985 | | 30 Years | Winterwood | | Charlotte, NC | | | 11,285,686.07 | | | 1,722,000.00 | | | 15,501,141.60 | | | — | | | 2,204,894.25 | | | 1,722,000.00 | | | 17,706,035.85 | | | 19,428,035.85 | | | (5,561,212.79 | ) | 1986 | | 30 Years | Winthrop Court (KY) | | Frankfort, Ky | | | 1,445,597.50 | | | 184,709.36 | | | 1,627,190.80 | | | — | | | 98,975.57 | | | 184,709.36 | | | 1,726,166.37 | | | 1,910,875.73 | | | (154,226.13 | ) | 1985 | | 30 Years | Winthrop Court II (OH) | | Columbus, OH | | | 727,383.36 | | | 102,381.09 | | | 896,576.06 | | | — | | | 43,649.70 | | | 102,381.09 | | | 940,225.76 | | | 1,042,606.85 | | | (81,947.52 | ) | 1986 | | 30 Years | Wood Creek (CA) | | Pleasant Hill, CA | | | (E | ) | | 9,729,900.00 | | | 23,009,768.39 | | | — | | | 631,562.11 | | | 9,729,900.00 | | | 23,641,330.50 | | | 33,371,230.50 | | | (3,911,201.93 | ) | 1987 | | 30 Years |
S-11
Wood Forest | | Daytona Beach, FL | | | 6,081,096.96 | | | 1,008,000.00 | | | 4,950,210.29 | | | — | | | 103,125.65 | | | 1,008,000.00 | | | 5,053,335.94 | | | 6,061,335.94 | | | (633,313.02 | ) | 1985 | | 30 Years | Wood Lane Place | | Woodbury, MN | | | 14,000,000.00 | | | 2,009,146.73 | | | 18,090,498.11 | | | — | | | 1,441,225.02 | | | 2,009,146.73 | | | 19,531,723.13 | | | 21,540,869.86 | | | (2,976,230.72 | ) | 1989 | | 30 Years | Woodbine (Cuy) | | Cuyahoga Falls, OH | | | — | | | 185,868.12 | | | 1,637,700.68 | | | — | | | 59,215.40 | | | 185,868.12 | | | 1,696,916.08 | | | 1,882,784.20 | | | (139,141.16 | ) | 1982 | | 30 Years | Woodbine (Por) | | Portsmouth, OH | | | 621,928.13 | | | 78,097.85 | | | 688,127.14 | | | — | | | 59,262.89 | | | 78,097.85 | | | 747,390.03 | | | 825,487.88 | | | (71,547.44 | ) | 1981 | | 30 Years | Woodbridge | | Cary, GA | | | 4,563,667.45 | | | 737,400.00 | | | 6,636,869.85 | | | — | | | 424,986.08 | | | 737,400.00 | | | 7,061,855.93 | | | 7,799,255.93 | | | (1,622,309.45 | ) | 1993-95 | | 30 Years | Woodbridge (CT) | | Newington, CT | | | 2,303,845.00 | | | 498,376.96 | | | 3,331,547.98 | | | — | | | 29,630.99 | | | 498,376.96 | | | 3,361,178.97 | | | 3,859,555.93 | | | (145,726.60 | ) | 1968 | | 30 Years | Woodbridge II | | Cary, GA | | | — | | | 1,244,600.00 | | | 11,243,364.10 | | | — | | | 385,017.47 | | | 1,244,600.00 | | | 11,628,381.57 | | | 12,872,981.57 | | | (2,486,297.42 | ) | 1993-95 | | 30 Years | Woodcliff I | | Lilburn, GA | | | — | | | 276,659.02 | | | 2,437,667.42 | | | — | | | 145,573.97 | | | 276,659.02 | | | 2,583,241.39 | | | 2,859,900.41 | | | (212,002.19 | ) | 1984 | | 30 Years | Woodcliff II | | Liburn, GA | | | 1,641,890.65 | | | 266,449.39 | | | 2,347,769.47 | | | — | | | 96,930.33 | | | 266,449.39 | | | 2,444,699.80 | | | 2,711,149.19 | | | (196,931.25 | ) | 1986 | | 30 Years | Woodcreek | | Beaverton, OR | | | 10,253,455.85 | | | 1,755,800.00 | | | 15,816,454.87 | | | — | | | 2,395,709.09 | | | 1,755,800.00 | | | 18,212,163.96 | | | 19,967,963.96 | | | (5,760,570.56 | ) | 1982-84 | | 30 Years | Woodcrest I | | Warner Robins, GA | | | — | | | 115,738.70 | | | 1,028,353.02 | | | — | | | 18,509.39 | | | 115,738.70 | | | 1,046,862.41 | | | 1,162,601.11 | | | (92,331.25 | ) | 1984 | | 30 Years | Woodlake (WA) | | Kirkland, WA | | | 11,086,250.78 | | | 6,631,400.00 | | | 16,735,484.40 | | | — | | | 675,714.56 | | | 6,631,400.00 | | | 17,411,198.96 | | | 24,042,598.96 | | | (2,317,275.75 | ) | 1984 | | 30 Years | Woodland Hills | | Decatur, GA | | | — | | | 1,224,600.00 | | | 11,010,680.74 | | | — | | | 1,125,298.51 | | | 1,224,600.00 | | | 12,135,979.25 | | | 13,360,579.25 | | | (2,719,898.57 | ) | 1985 | | 30 Years | Woodland I (FL) | | Orlando, FL | | | 3,397,881.76 | | | 461,948.64 | | | 4,070,817.98 | | | — | | | 242,073.89 | | | 461,948.64 | | | 4,312,891.87 | | | 4,774,840.51 | | | (379,653.78 | ) | 1984/85 | | 30 Years | Woodland Meadows | | Ann Arbor, MI | | | 15,810,000.00 | | | 2,006,000.00 | | | 18,049,551.84 | | | — | | | 757,082.01 | | | 2,006,000.00 | | | 18,806,633.85 | | | 20,812,633.85 | | | (3,032,621.95 | ) | 1987-1989 | | 30 Years | Woodlands (KY) | | Franklin, KY | | | — | | | 72,093.80 | | | 634,894.94 | | | — | | | 86,903.51 | | | 72,093.80 | | | 721,798.45 | | | 793,892.25 | | | (74,358.20 | ) | 1983 | | 30 Years | Woodlands I (Col) | | Columbus, OH | | | 1,750,390.65 | | | 231,995.55 | | | 2,044,232.64 | | | — | | | 109,174.53 | | | 231,995.55 | | | 2,153,407.17 | | | 2,385,402.72 | | | (190,201.73 | ) | 1983 | | 30 Years | Woodlands I (PA) | | Zelienople, PA | | | 1,015,816.14 | | | 163,191.69 | | | 1,437,896.61 | | | — | | | 87,011.43 | | | 163,191.69 | | | 1,524,908.04 | | | 1,688,099.73 | | | (127,066.51 | ) | 1983 | | 30 Years | Woodlands I (Str) | | Streetsboro, OH | | | 265,139.94 | | | 197,377.57 | | | 1,739,111.51 | | | — | | | 139,486.70 | | | 197,377.57 | | | 1,878,598.21 | | | 2,075,975.78 | | | (164,101.32 | ) | 1984 | | 30 Years | Woodlands II (Col) | | Columbus, OH | | | 1,517,877.27 | | | 192,633.43 | | | 1,697,310.42 | | | — | | | 116,183.87 | | | 192,633.43 | | | 1,813,494.29 | | | 2,006,127.72 | | | (158,680.00 | ) | 1984 | | 30 Years | Woodlands II (PA) | | Zelienople, PA | | | — | | | 192,972.36 | | | 1,700,296.78 | | | — | | | 82,449.83 | | | 192,972.36 | | | 1,782,746.61 | | | 1,975,718.97 | | | (148,488.88 | ) | 1987 | | 30 Years | Woodlands II (Str) | | Streetsboro, OH | | | 1,551,162.21 | | | 183,996.01 | | | 1,621,205.38 | | | — | | | 143,286.36 | | | 183,996.01 | | | 1,764,491.74 | | | 1,948,487.75 | | | (155,075.54 | ) | 1985 | | 30 Years | Woodlands III (Col) | | Columbus, OH | | | — | | | 230,536.02 | | | 2,031,248.57 | | | — | | | 223,055.35 | | | 230,536.02 | | | 2,254,303.92 | | | 2,484,839.94 | | | (191,823.20 | ) | 1987 | | 30 Years | Woodlands of Brookfield | | Brookfield, WI | | | (N | ) | | 1,484,600.00 | | | 13,961,080.72 | | | — | | | 508,802.74 | | | 1,484,600.00 | | | 14,469,883.46 | | | 15,954,483.46 | | | (1,937,592.86 | ) | 1990 | | 30 Years | Woodlands of Minnetonka | | Minnetonka, MN | | | — | | | 2,394,500.00 | | | 13,543,076.29 | | | — | | | 602,310.07 | | | 2,394,500.00 | | | 14,145,386.36 | | | 16,539,886.36 | | | (2,250,314.56 | ) | 1988 | | 30 Years | Woodleaf | | Campbell, CA | | | 10,983,236.90 | | | 8,550,600.00 | | | 16,988,182.50 | | | — | | | 253,043.88 | | | 8,550,600.00 | | | 17,241,226.38 | | | 25,791,826.38 | | | (2,166,338.97 | ) | 1984 | | 30 Years | Woodmoor | | Austin, TX | | | — | | | 653,800.00 | | | 5,875,968.39 | | | — | | | 1,555,294.82 | | | 653,800.00 | | | 7,431,263.21 | | | 8,085,063.21 | | | (2,486,385.65 | ) | 1981 | | 30 Years | Woodridge (MN) | | Eagan, MN | | | 7,554,263.29 | | | 1,602,300.00 | | | 10,449,579.23 | | | — | | | 668,014.62 | | | 1,602,300.00 | | | 11,117,593.85 | | | 12,719,893.85 | | | (1,568,614.48 | ) | 1986 | | 30 Years | Woodridge (CO) | | Aurora, CO | | | — | | | 2,780,700.00 | | | 7,567,334.68 | | | — | | | 505,696.91 | | | 2,780,700.00 | | | 8,073,031.59 | | | 10,853,731.59 | | | (1,133,764.49 | ) | 1980-82 | | 30 Years | Woodridge II (CO) | | Aurora, CO | | | — | | | — | | | 4,148,517.08 | | | — | | | 267,481.88 | | | — | | | 4,415,998.96 | | | 4,415,998.96 | | | (623,096.57 | ) | 1980-82 | | 30 Years | Woodridge III (CO) | | Aurora, CO | | | — | | | — | | | 9,130,763.69 | | | — | | | 589,716.81 | | | — | | | 9,720,480.50 | | | 9,720,480.50 | | | (1,372,019.79 | ) | 1980-82 | | 30 Years | Woods of Elm Creek | | San Antonio, TX | | | — | | | 590,000.00 | | | 5,310,327.86 | | | — | | | 444,833.53 | | | 590,000.00 | | | 5,755,161.39 | | | 6,345,161.39 | | | (1,123,102.77 | ) | 1983 | | 30 Years | Woods of North Bend | | Raleigh, NC | | | 14,960,000.00 | | | 1,039,500.00 | | | 9,305,318.81 | | | — | | | 1,361,144.55 | | | 1,039,500.00 | | | 10,666,463.36 | | | 11,705,963.36 | | | (2,990,414.59 | ) | 1983 | | 30 Years | Woodscape | | Raleigh, NC | | | — | | | 957,300.00 | | | 8,607,939.89 | | | — | | | 618,321.40 | | | 957,300.00 | | | 9,226,261.29 | | | 10,183,561.29 | | | (1,897,747.47 | ) | 1979 | | 30 Years | Woodside | | Lorton, VA | | | — | | | 1,326,000.00 | | | 12,510,902.78 | | | — | | | 707,493.75 | | | 1,326,000.00 | | | 13,218,396.53 | | | 14,544,396.53 | | | (3,585,940.12 | ) | 1987 | | 30 Years | Woodtrail | | Newnan, GA | | | — | | | 250,894.94 | | | 2,210,657.86 | | | — | | | 53,349.22 | | | 250,894.94 | | | 2,264,007.08 | | | 2,514,902.02 | | | (189,879.38 | ) | 1984 | | 30 Years | Woodvalley | | Anniston, AL | | | 1,382,983.08 | | | 190,188.16 | | | 1,675,764.93 | | | — | | | 50,107.08 | | | 190,188.16 | | | 1,725,872.01 | | | 1,916,060.17 | | | (150,062.82 | ) | 1986 | | 30 Years | Wycliffe Court | | Murfreesboro, TN | | | 1,105,968.73 | | | 166,544.62 | | | 1,467,724.60 | | | — | | | 95,336.21 | | | 166,544.62 | | | 1,563,060.81 | | | 1,729,605.43 | | | (136,333.47 | ) | 1985 | | 30 Years | Wynbrook | | Norcross, GA | | | — | | | 2,546,500.00 | | | 11,009,665.73 | | | — | | | 636,124.46 | | | 2,546,500.00 | | | 11,645,790.19 | | | 14,192,290.19 | | | (1,646,533.17 | ) | 1972/1976 | | 30 Years | Wyndridge 2 | | Memphis, TN | | | 14,135,000.00 | | | 1,488,000.00 | | | 13,607,636.08 | | | — | | | 1,028,472.14 | | | 1,488,000.00 | | | 14,636,108.22 | | | 16,124,108.22 | | | (2,807,469.39 | ) | 1988 | | 30 Years | Wyndridge 3 | | Memphis, TN | | | 10,855,000.00 | | | 1,502,500.00 | | | 13,531,740.55 | | | — | | | 667,578.36 | | | 1,502,500.00 | | | 14,199,318.91 | | | 15,701,818.91 | | | (2,595,106.03 | ) | 1988 | | 30 Years | Yarmouth Woods | | Yarmouth, ME | | | — | | | 692,800.00 | | | 6,096,155.42 | | | — | | | 314,655.96 | | | 692,800.00 | | | 6,410,811.38 | | | 7,103,611.38 | | | (988,901.83 | ) | 1971/1978 | | 30 Years | Yorktowne at Olde Mill | | Millersville, MD | | | — | | | 216,000.00 | | | 2,674,121.00 | | | — | | | 3,955,745.41 | | | 216,000.00 | | | 6,629,866.41 | | | 6,845,866.41 | | | (5,117,733.51 | ) | 1974 | | 30 Years | Management Business | | Chicago, IL | | | — | | | — | | | — | | | — | | | 48,371,317.30 | | | — | | | 48,371,317.30 | | | 48,371,317.30 | | | (32,429,165.60 | ) | (G) | | | Operating Partnership | | Chicago, IL (AA) | | | 43,792.00 | | | — | | | 201,588.72 | | | — | | | — | | | — | | | 201,588.72 | | | 201,588.72 | | | — | | (Y) | | | Total Investment in Real Estate | | | | $ | 2,844,098,866.29 | | $ | 1,840,169,898.16 | | $ | 10,529,012,304.53 | | $ | — | | $ | 647,000,892.67 | | $ | 1,840,169,898.16 | | $ | 11,176,013,197.20 | | $ | 13,016,183,095.36 | | $ | (1,718,844,690.60 | ) | | | | Real Estate Held for Disposition | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Larkspur I (Mor) | | Moraine, OH | | $ | 435,131.30 | | $ | 55,416.09 | | $ | 488,276.16 | | $ | — | | $ | 53,693.15 | | $ | 55,416.09 | | $ | 541,969.31 | | $ | 597,385.40 | | $ | (49,238.63 | ) | 1982 | | 30 Years | Larkspur II | | Moraine, OH | | | — | | | 29,907.55 | | | 263,518.09 | | | — | | | 19,025.44 | | | 29,907.55 | | | 282,543.53 | | | 312,451.08 | | | (24,397.65 | ) | 1984 | | 30 Years | Ravenwood | | Mouldin, SC | | | — | | | 197,283.52 | | | 1,738,282.85 | | | — | | | 26,693.69 | | | 197,283.52 | | | 1,764,976.54 | | | 1,962,260.06 | | | (150,279.41 | ) | 1987 | | 30 Years | Springwood II (Aus) | | Austintown, OH | | | — | | | 78,057.03 | | | 687,767.52 | | | — | | | 19,558.48 | | | 78,057.03 | | | 707,326.00 | | | 785,383.03 | | | (62,799.20 | ) | 1982 | | 30 Years | Total Real Estate Held for Disposition | | | | $ | 435,131.30 | | $ | 360,664.19 | | $ | 3,177,844.62 | | $ | — | | $ | 118,970.76 | | $ | 360,664.19 | | $ | 3,296,815.38 | | $ | 3,657,479.57 | | $ | (286,714.89 | ) | | | | Total Real Estate | | | | $ | 2,844,533,997.59 | | $ | 1,840,530,562.35 | | $ | 10,532,190,149.15 | | $ | — | | $ | 647,119,863.43 | | $ | 1,840,530,562.35 | | $ | 11,179,310,012.58 | | $ | 13,019,840,574.93 | | $ | (1,719,131,405.49 | ) | | | |
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EQUITY RESIDENTIAL PROPERTIES TRUST
Schedule III — Real Estate and Accumulated Depreciation
December 31, 2001
NOTES: (A)The balance of furniture & fixtures included in the total investment in real estate amount was $519,514,809.76 as of December 31, 2001.
The balance of furniture & fixtures included in the total real estate held for disposition amount was $140,372.21 as of December 31, 2001.
(B)The aggregate cost for Federal Income Tax purposes as of December 31, 2001 was approximately $8.6 billion.
(C)The life to compute depreciation for furniture & fixtures is 5 years.
(D)These two properties are encumbered by $13,862,435.70 in bonds. (EQR Arbors Fin LP)
(E)These 20 properties are encumbered by $136,000,000 in bonds.
(F)This property is encumbered by $15,023,121.50 in bonds. (EQR Breton Hammock's Fin LP)
(G)This asset consists of various acquisition dates and largely represents furniture, fixtures and equipment owned by the Management Business.
(H)Improvements are net of write-off of fully depreciated assets which are no longer in service.
(L)These three properties are pledged as additional collateral in connection with a tax-exempt bond financing.
(M)These 5 properties are encumbered by a $47,119,126.90 note payable. (EWR Northwestern Mutual)
(N)These 5 properties are encumbered by $50,000,000 of mortgage debt.
(O)The development of this property is currently on hold.
(P)These ten properties are encumbered by $177,570,000 in bonds.
(R)These five properties are pledged as additional collateral in connection with a tax-exempt bond financing.
(T)A portion of these properties is commercial office space.
(U)Mortgage debt includes $1,460,000, which is cross-collateralized by these 14 other properties.
(Y)This asset consists of various acquisition dates and largely represents furniture, fixtures and equipment owned by the Operating Partnership.
(Z)These properties are under development.
(AA)(A) | The balance of furniture & fixtures included in the total investment in real estate amount was $597,215,716.74 as of December 31, 2002. | (B) | The aggregate cost for Federal Income Tax purposes as of December 31, 2002 was approximately $8.7 billion. | (C) | The life to compute depreciation for furniture & fixtures is 5 years. | (D) | This asset consists of various acquisition dates and largely represents furniture, fixtures and equipment owned by the Management Business. | (E) | Improvements are net of write-off of fully depreciated assets which are no longer in service. | (F) | The development of this property is currently on hold. | (G) | A portion of these properties is commercial (retail, parking and/or office space). | (H) | The mortgage debt is the balance for a property that was sold, which balance was not collateralized by the property. The amount was transferred to ERPOP. |
*(I) |
|
Four Lakes was constructedThese three properties are pledged as additional collateral in phases between 1968 & 1988.connection with a tax-exempt bond financing. |
(#)(J) |
|
The Lodge-Texas was struck byThese five properties are pledged as additional collateral in connection with a tornado that destroyed most of the property. The property was reconstructed during 1989 & 1990.tax-exempt bond financing. |
Note 1: Mortgage debt includes $1,245,848.19 collateralized by a warehouse owned by the Company's furniture rental subsidiary.
Note 2: The following letters have not been used: (I), (J), (K), (Q), (S), (V), (W), and (X)S - 14
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EQUITY RESIDENTIAL PROPERTIES TRUST
Schedule III—III - Real Estate and Accumulated Depreciation (continued) Encumbrances Reconciliation December 31, 2002 Entity Encumbrances | | Number of Properties Encumbered By | | See Properties With Note: | | Amount | | EQR Arbors Financing LP | | 2 | | (K) | | $ | 13,546,252.82 | | EQR Breton Hammocks Financing LP | | 1 | | (L) | | 15,113,185.88 | | EQR-Bond Partnership | | 14 | | (M) | | 207,594,000.00 | | EQR Flatlands LLC | | 5 | | (N) | | 50,000,000.00 | | EWR, LP | | 5 | | (O) | | 46,217,872.78 | | GPT-Windsor, LLC | | 17 | | (P) | | 63,000,000.00 | | EQR-Codelle, LP | | 10 | | (Q) | | 121,787,418.54 | | EQR-Conner, LP | | 15 | | (R) | | 213,801,774.22 | | EQR-FANCAP 2000A LP | | 11 | | (S) | | 148,333,000.00 | | GC Southeast Partners LP (SEP) | | 14 | | (T) | | 1,225,000.00 | | Entity Encumbrances | | | | | | 880,618,504.24 | | Individual Property Encumbrances | | | | | | 2,046,995,578.53 | | | | | | | | | | Total Encumbrances per Financial Statements | | | | | | $ | 2,927,614,082.77 | |
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EQUITY RESIDENTIAL Schedule III — Real Estate and Accumulated Depreciation (Amounts in thousands)
The changes in total real estate for the years ended December 31, 2002, 2001 2000 and 19992000 are as follows:
| | 2001
| | 2000
| | 1999
| |
---|
Balance, beginning of year | | $ | 12,650,028 | | $ | 12,257,344 | | $ | 10,986,261 | | | Acquisitions and development | | | 753,648 | | | 1,273,837 | | | 1,448,582 | | | Improvements | | | 157,847 | | | 142,829 | | | 141,935 | | | Write-off of fully depreciated assets which are no longer in service | | | (149 | ) | | — | | | — | | | Dispositions and other | | | (541,533 | ) | | (1,023,982 | ) | | (319,434 | ) | | |
| |
| |
| | Balance, end of year | | $ | 13,019,841 | | $ | 12,650,028 | | $ | 12,257,344 | | | |
| |
| |
| |
| | 2002 | | 2001 | | 2000 | | | | | | | | | | Balance, beginning of year | | $ | 13,019,841 | | $ | 12,650,028 | | $ | 12,257,344 | | Acquisitions and development | | 528,302 | | 753,648 | | 1,273,837 | | Improvements | | 164,077 | | 157,847 | | 142,829 | | Write-off of fully depreciated assets which are no longer in service | | — | | (149 | ) | — | | Dispositions and other | | (665,957 | ) | (541,533 | ) | (1,023,982 | ) | Balance, end of year | | $ | 13,046,263 | | $ | 13,019,841 | | $ | 12,650,028 | |
The changes in accumulated depreciation for the years ended December 31, 2002, 2001, 2000, and 19992000 are as follows:
| | 2001
| | 2000
| | 1999
| |
---|
Balance, beginning of year | | $ | 1,359,089 | | $ | 1,076,001 | | $ | 732,803 | | | Depreciation | | | 457,071 | | | 441,690 | | | 406,962 | | | Write-off of fully depreciated assets which are no longer in service | | | (149 | ) | | — | | | — | | | Dispositions and other | | | (96,880 | ) | | (158,602 | ) | | (63,764 | ) | | |
| |
| |
| | Balance, end of year | | $ | 1,719,131 | | $ | 1,359,089 | | $ | 1,076,001 | | | |
| |
| |
| |
| | 2002 | | 2001 | | 2000 | | | | | | | | | | Balance, beginning of year | | $ | 1,719,131 | | $ | 1,359,089 | | $ | 1,076,001 | | Depreciation | | 471,295 | | 457,071 | | 441,690 | | Write-off of fully depreciated assets which are no longer in service | | — | | (149 | ) | — | | Dispositions and other | | (78,409 | ) | (96,880 | ) | (158,602 | ) | Balance, end of year | | $ | 2,112,017 | | $ | 1,719,131 | | $ | 1,359,089 | |
S - 16
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DOCUMENTS INCORPORATED BY REFERENCEPART IPART IIPART IIIPART IVSIGNATURESINDEX TO FINANCIAL STATEMENTS AND SCHEDULE EQUITY RESIDENTIAL PROPERTIES TRUSTREPORT OF INDEPENDENT AUDITORSEQUITY RESIDENTIAL PROPERTIES TRUST CONSOLIDATED BALANCE SHEETS (Amounts in thousands except for share amounts)EQUITY RESIDENTIAL PROPERTIES TRUST CONSOLIDATED STATEMENTS OF OPERATIONS (Amounts in thousands except per share data)EQUITY RESIDENTIAL PROPERTIES TRUST CONSOLIDATED STATEMENTS OF OPERATIONS (Continued) (Amounts in thousands except per share data)EQUITY RESIDENTIAL PROPERTIES TRUST CONSOLIDATED STATEMENTS OF CASH FLOWS (Amounts in thousands)EQUITY RESIDENTIAL PROPERTIES TRUST CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued) (Amounts in thousands)EQUITY RESIDENTIAL PROPERTIES TRUST CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued) (Amounts in thousands)EQUITY RESIDENTIAL PROPERTIES TRUST CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Amounts in thousands)EQUITY RESIDENTIAL PROPERTIES TRUST NOTES TO CONSOLIDATED FINANCIAL STATEMENTSEQUITY RESIDENTIAL PROPERTIES TRUST Schedule III — Real Estate and Accumulated Depreciation December 31, 2001EQUITY RESIDENTIAL PROPERTIES TRUST Schedule III—Real Estate and Accumulated Depreciation (continued) (Amounts in thousands) |