Pruco Life Variable Contract Real Property Account
Filed: 27 Mar 09, 12:00am
Real Estate Owned
THE PRUDENTIAL VARIABLE CONTRACT REAL PROPERTY PARTNERSHIP
SCHEDULE III - REAL ESTATE OWNED: PROPERTIES
DECEMBER 31, 2008
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Gross Amount at Which
Initial Costs to the Partnership Carried at Close of Year
------------------------------------------------- Costs -----------------------------------------------------------------------------------------------------------------------------------------------------------
Capitalized
Encumbrances Building & Subsequent to Building & 2008 Year of Date
Description at 12/31/08 Land Improvements Acquisition Land Improvements Sales Total Construction Acquired
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Properties:
Office Building
Lisle, IL None 1,780,000 15,743,881 7,694,896 1,949,206 23,269,571 25,218,777 1985 Apr., 1988
Garden Apartments
Atlanta, GA 8,746,000 3,631,212 11,168,904 5,010,802 (b) 4,937,369 14,873,549 19,810,918 1987 Apr., 1988
Retail Shopping Center
Roswell, GA None 9,454,622 21,513,677 6,925,296 11,135,593 26,758,002 37,893,595 1988 Jan., 1989
Garden Apartments
Raleigh, NC 8,973,520 (c) 1,623,146 14,135,553 674,845 1,785,544 14,648,000 16,433,544 1995 Jun., 1995
Hotel
Portland, OR - 1,500,000 6,508,729 2,303,859 1,500,000 8,812,588 10,312,588 1989 Dec., 2003
Office Building
Nashville, TN None 1,797,000 6,588,451 3,675,530 1,855,339 10,205,642 12,060,981 1982 Oct., 1995
Office Building
Beaverton, OR None 816,415 9,897,307 1,799,263 845,887 11,667,098 12,512,985 1995 Dec., 1996
Office Complex
Brentwood, TN None 2,425,000 7,063,755 2,900,452 2,463,601 9,925,606 12,389,207 1987 Oct., 1997
Retail Shopping Center
Hampton, VA 7,284,195 2,339,100 12,767,956 3,003,760 4,839,418 13,271,398 18,110,816 1998 May, 2001
Retail Shopping Center
Westminster, MD - 3,031,735 9,326,605 2,686,381 3,031,735 12,012,986 15,044,721 2005 June, 2006
Retail Shopping Center
Ocean City, MD 15,044,112 1,517,099 8,495,039 13,258,876 1,517,099 21,753,915 23,271,014 1986 Nov., 2002
Garden Apartments
Austin, TX - 2,577,097 20,125,169 30,097 2,577,097 20,155,266 22,732,363 2007 May, 2007
Retail Shopping Center
Dunn, NC None 586,500 5,372,344 407,923 586,500 5,780,267 6,366,767 1984 Aug., 2007
Garden Apartments
Charlotte, NC - 1,350,000 12,184,750 115,188 1,350,000 12,299,938 13,649,938 1998 Sep., 2007
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40,047,827 34,428,926 160,892,120 50,487,168 40,374,388 205,433,826 - 245,808,214
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2008 2007 2006
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(a)Balance at beginning of year 236,466,116 199,124,056 183,767,148
Additions:
Acquistions - 42,218,143 12,358,340
Improvements, etc. 9,936,151 3,179,960 2,998,568
Reclass of other real estate investments - 3,232,337 -
Deletions:
Sale - (11,288,380) -
Write off of uncollectible interest receivable (594,053) - -
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Balance at end of year 245,808,214 236,466,116 199,124,056
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(b)Net of $1,000,000 settlement received from lawsuit.
(c)Net of an unamortized discount of $26,480