EXHIBIT 99.1

                          IMPORTANT FACTORS REGARDING
                          FORWARD-LOOKING STATEMENTS

     The following factors, among others, could cause actual results to differ 
materially from those contained in forward-looking statements made in this 
report and presented elsewhere by management from time to time. Reference is 
also made to uncertainties discussed in the following portions of the 
Partnership's annual report on Form 10-K for the fiscal year ended December 31, 
1995: (a) the subsections entitled "Sources of Payment," "Regulation and Other 
Factors" and "Competition" in Item 2, within the "PROPERTIES" section, which 
describe (i) the federal and state governmental involvement and discretion in 
the funding and payment of Medicare and Medicaid payments that comprise a 
significant portion of the Partnership's revenues, (ii) the federal, state and
local govermental regulation of healthcare facilities, including the requirement
of continued licensure, and (iii) the competitive conditions faced by the
Partnership, and (b) Item 7, "MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
CONDITION AND RESULTS OF OPERATIONS."

     Competition: The profitability of retirement communities is subject to 
general economic conditions, competition, the desirability of particular 
locations, the relationship between supply of and demand for senior living
facilities, and other factors. The Partnership's retirement communities are
generally located in markets that contain numerous competitors, and the
continued success of the Partnership's retirement communities in their
respective markets will be dependent, in large part, upon those facilities'
ability to compete in such areas as access, location, quality of accommodations,
amenities, specialized services and rate structure.

     Facility Expansion: The timing and success of the planned expansion of the
Partnership's existing retirement communities is dependent upon a number of
factors, including the ability to obtain required zoning variances and permits
from local governmental authorities and the timing thereof, whether development
and construction costs are higher or lower than anticipated, whether
construction is completed faster or slower than anticipated, whether newly added
living units are occupied faster or slower than anticipated, whether rental
rates for additional living units are higher or lower than anticipated, and
whether operating costs are higher or lower than anticipated.

     Availability of Financing: The Partnership presently intends to finance the
planned expansion of its existing retirement communities out of the 
Partnership's cash flow from operations. If cash flow from operations is 
insufficient to complete such expansion on a timely basis, the expansion may be 
delayed, reduced in scope or discontinued. In that event, the Partnership may 
seek to obtain financing from Forum Group or the General Partner, although they 
do not have an obligation to provide any such financing. The Nomura Loan 
restricts the ability of the Partnership to obtain third-party financing (other 
than from Forum Group or the General Partner, on an unsecured, subordinated 
basis) above $1 million in the aggregate, and prohibits the imposition of liens 
on the Partnership's assets. There can be no assurance that a waiver could be 
obtained from the lender to permit any third-party financing, or whether, when 
and on what terms any such financing may be available.