1 Exhibit 99.2 ------------ VININGS INVESTMENT PROPERTIES TRUST AND SUBSIDIARIES PRO FORMA CONSOLIDATED BALANCE SHEET AS OF MAY 31, 1996 (UNADUITED) PRO FORMA HISTORICAL ACQUISITION PRO FORMA MAY 31, 1996 ADJUSTMENTS(A) MAY 31, 1996 ASSETS CASH AND CASH EQUIVALENTS $ 147,799 $ (84,099) $ 63,700 CASH-ESCROWS - 231,633 (C) 231,633 RECEIVABLES 55,509 - 55,509 PREPAID EXPENSES 161,129 7,425 168,554 UNAMORTIZED LEASE COMMISSIONS 7,770 - 7,770 PEACHTREE BUSINESS CENTER 2,334,853 - 2,334,853 THE THICKET APARTMENTS - 8,650,000 8,650,000 ACQUISTITION/LOAN COSTS - 235,327 235,327 TOTAL ASSETS $2,707,060 $9,040,286 $11,747,346 LIABILITIES ACCOUNTS PAYABLE $ 9,487 $ - $ 9,487 ACCRUED LIABILITIES 65,250 80,182 (D) 145,432 ACCRUED TAXES 14,206 - 14,206 SECURITY DEPOSITS 19,422 - 19,422 MORTGAGES & NOTES PAYABLE - 8,960,104 8,960,104 TOTAL LIABILITIES 108,365 9,040,286 9,148,651 SHAREHOLDERS' EQUITY SHAREHOLDERS' EQUITY 36,973,249 - 36,973,249 CUMULATIVE EARNINGS 38,244,925 80,182 38,244,925 CUMULATIVE DISTRIBUTIONS (72,619,479) - (72,619,479) TOTAL SHAREHOLDERS' EQUITY 2,598,695 - 2,598,695 TOTAL LIABILITIES & SHAREHOLDERS' EQUITY $2,707,060 $9,040,286 $11,747,346