EXHIBIT (a)(7)



            TRANSCRIPTS OF TELEPHONE MESSAGES TO POTENTIAL INVESTORS


1ST CALL

Hello,

My name is Douglas Krupp, Co-Chairman of Krupp Funds Group. The reason for my
call is to alert you to a new preferred stock investment opportunity that is
only being offered to our current Krupp investors. A packet containing the
prospectus, a brochure with fund highlights and the paperwork to sign up is
being mailed to you today. Please take some time to carefully read this
material. Should you have any questions please call us at 1-866-33-KRUPP. Thank
you and have a nice day.


2ND CALL

Hello,

I am calling from Krupp Funds Group, by now you should have received a large
packet regarding the new preferred stock investment opportunity for our current
Krupp investors. I hope that you have had an opportunity to read the prospectus.
Please press 1 now if you have any questions and you will immediately be
transferred to a representative who will answer any questions. If you haven't
yet read the prospectus, please do so. Should you have questions please call us
at 1-866-33-KRUPP. Thank you and have a nice day.