USA Courtney Downs LeaseCo, LLC

Balance Sheet
Books = Accrual
Mar 2008

ASSETS

Cash
Operating Cash 3,441.15
Money Market 0.00
Total Cash $3,441.15

OTHER ASSETS
Accounts Receivable 9,270.45
Prepaid Expenses 43,326.67
Tax Escrow 341,640.18
Replacement Reserves 69,802.04
Capital / Repair Escrow 200,000.00
Total Other Assets 664,039.34

Total ASSETS 667,480.49

LIABILITIES & CAPITAL

LIABILITIES
Accounts Payable - Trade 162,376.09
Other Accounts Payable 859,605.23
Accrued Taxes 443,091.73
Prepaid Rent 7,823.42
Security Deposits 42,157.01
Notes Payable 39,094.50
Total Liabilities 1,554,147.98

CAPITAL

Owners Equity 100.00

Retained Earnings (886,767.49)
Total Capital (886,667.49)

Total LIABILITIES & CAPITAL 667,480.49

 USA Courtney Downs LeaseCo, LLC
Budget Comparison
Books = Accrual
For the period ending March 31, 2008

MTD MTD YTD YTD Annual

Account Actual Budget $ Variance MTD Variance Comment Actual Budget $ Variance Budget YTD Variance Comment Filter

Revenue 0.01
Market Rent 294,800.00 297,830.00 (3,030.00) Reflects lease rent verses market 883,620.00 886,650.00 (3,030.00) 3,587,640.00 2,362,900.00
rents.
Loss / Gain to Lease 29.00 7,880.00 (7,851.00) Variance reflects Market rent verses 3,658.00 29,067.00 (25,409.00) 74,283.00 40,634.00
lease rents.
Gross Potential Rent 294,829.00 305,710.00 (10,881.00) Explained above. 887,278.00 915,717.00 (28,439.00) 3,661,923.00 2,403,534.00
Prepaid Homeowners Dues 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Residential Rent 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Vacancy Loss (12,200.56) (24,776.00) 12,575.44 We achieved higher occupancy this (40,695.06) (80,645.00) 39,949.94 (253,425.00) (158,316.62)
month, our vacancy was 4% and we
were budgeted to be 8%.
Upfront Rent Concessions 6,116.84 (3,000.00) 9,116.84 Moved concessions due to booking 5,692.36 (15,000.00) 20,692.36 (42,000.00) (6,190.80)
error from up front to lease term
concessions.
Corporate Discount 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Delinquent Rent 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Adjustments & W/O (331.61) (1,586.00) 1,254.39 Apartments left in better condition at (16,545.79) (4,627.00) (11,918.79) (18,910.00) (23,090.40)
the time of move out, resulting in less
move out charges.
Model Units (1,980.00) (1,980.00) 0.00 (5,940.00) (5,940.00) 0.00 (23,760.00) (15,840.00)
Courtesy Officer Apt. 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Employee Apartment (2,104.80) (1,935.00) (169.80) (5,974.40) (5,805.00) (169.40) (23,220.00) (15,819.20)
Housekeeping & Maintenance Fee 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Guest Suite (1,160.00) (1,160.00) 0.00 (1,525.00) (3,480.00) 1,955.00 (13,920.00) (7,325.00)
Lease Term Concessions (6,383.35) (12,879.00) 6,495.65 We have been able to reduce the (24,173.58) (46,379.00) 22,205.42 (205,887.00) (89,814.93)
amount of concessions offered due to
higher occupancy.
Homeowner's Assn Dues Income 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Homeowner Dues Paid 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Model Units 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Lease Contract Difference 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Rental Income $276,785.52 $258,394.00 $18,391.52 $798,116.53 $753,841.00 $44,275.53 $3,080,801.00 2,087,137.05
1.00
Laundry Income 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Vending Income 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Covered Parking Income 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Late Charges & NSF Fees 1,558.51 1,771.00 (212.49) We collected14 late fees and two nsf 6,432.50 4,697.00 1,735.50 21,791.00 14,459.01
fees versus 22 budgeted.
Month to Month Premium 761.61 750.00 11.61 1,882.61 1,800.00 82.61 9,450.00 5,194.22
Storage Fees 1,278.56 880.00 398.56 3,766.30 2,280.00 1,486.30 11,120.00 8,204.86
Repair & Maintenance Fees 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Application Fees 1,050.00 1,519.00 (469.00) We collected 21 application fees 4,350.00 4,018.00 332.00 19,796.00 10,937.00
versus 30 budgeted.
Termination Fees & Damages 5,566.26 2,700.00 2,866.26 We had two units #4308 and #6306 13,156.26 2,700.00 10,456.26 13,500.00 24,122.52
buyout of lease due to one moving out
of state and one buying house.
Miscellaneous Income 484.35 1,100.00 (615.65) This includes 19 utility transfer fees 2,539.60 1,900.00 639.60 8,000.00 6,023.95
and seven credit card convenience
fees.
Renters Insurance 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest Income 0.00 0.00 0.00 0.00 3,489.00 (3,489.00) 3,489.00 3,489.00
Pet Rents & Fees 2,998.22 3,360.00 (361.78) We collected one less pet fee then 11,175.90 10,080.00 1,095.90 41,160.00 27,614.12
anticipated in the budget.
Tower Rent 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Asset Management Fee 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Parking Spaces Income 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Homeowners Assessments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Garage Income 7,066.89 6,790.00 276.89 We have been pushing the garages 21,177.89 20,370.00 807.89 81,480.00 55,404.78
and were able to rent two more then
budget.
Water/Sewer Income 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cable/Telephone Income 0.00 475.00 (475.00) No cable income check received at this 3,113.37 1,425.00 1,688.37 5,700.00 5,013.37
time.
HOA Contributions Developer 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Developer HOA Dues 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Forfeited Deposits 300.00 300.00 0.00 300.00 900.00 (600.00) 4,100.00 1,800.00
Developer Contributions 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest Income Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Thunder Income 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Administration Fee 2,250.00 2,660.00 (410.00) We collected 15 administration fees 9,450.00 6,580.00 2,870.00 33,880.00 20,940.00
versus 18 budgeted.
Move-Out Charges 1,871.78 2,400.00 (528.22) Apartments left in better condition 9,080.82 7,200.00 1,880.82 30,000.00 20,552.60
resulting in fewer move out charges.
Short Term Lease Fees 544.74 500.00 44.74 1,344.74 1,375.00 (30.26) 6,625.00 3,764.48
Extra-Ordinary Income 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Corporate Rent 325.00 0.00 325.00 Guest suite rental for four days, should 325.00 0.00 325.00 0.00 650.00
have been booked to guest suite code.

Corporate Units - expense 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Deferred Revenue 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
HOA Developer Contributions 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Acquisition Fees 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Income - Rental 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Income - C.A.M. 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Income - Insurance 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Income - Taxes 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Income - Interest 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Income - Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Income - Condo Sales 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Other Income 26,055.92 25,205.00 850.92 Explained above. 88,094.99 68,814.00 19,280.99 290,091.00 208,169.91
1.00
Total Revenue $302,841.44 $283,599.00 $19,242.44 Explained above. $886,211.52 $822,655.00 $63,556.52 $3,370,892.00 2,295,306.96
1.00
Expense 1.00
Managers Salary 11,346.86 12,689.00 1,342.14 We worked fewer hours this month, 34,760.70 38,067.00 3,306.30 154,548.00 96,863.56
due to the way the payroll falls, this will
be spent in April.
Salaries 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Maintenance Salary 10,949.05 11,403.00 453.95 We worked fewer hours this month, 34,923.47 34,209.00 (714.47) 138,888.00 91,484.52
due to the way the payroll falls, this will
be spent in April.
Salary - Administrative 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Commissions & Bonus 3,349.77 3,665.00 315.23 Based on actual commissions paid 11,874.12 10,095.00 (1,779.12) 46,633.00 28,983.89
out.
Payroll Taxes 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Group Insurance 195.24 1,720.00 1,524.76 We have less participants for our 3,176.16 5,160.00 1,983.84 20,640.00 10,251.40
insurance program then what was
anticipated in the budget.
Disability Insurance 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
401k Match 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Contract Labor 0.00 1,000.00 1,000.00 No extra help needed for this month. 21.23 3,000.00 2,978.77 5,000.00 4,021.23
Workers Comp 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Salary Expense 25,840.92 30,477.00 4,636.08 Explained above. 84,755.68 90,531.00 5,775.32 365,709.00 231,604.60
1.00
Office Operations & Supplies 51.40 850.00 798.60 Less supplies bought for the office this 1,091.83 2,550.00 1,458.17 10,200.00 4,543.23
month.
Telephones 796.96 743.00 (53.96) 3,208.97 2,229.00 (979.97) 8,916.00 6,977.93
 Answering Svc. & Pagers 125.83 98.00 (27.83) 308.49 294.00 (14.49) 1,176.00 826.32
Postage & Delivery 73.88 211.00 137.12 559.36 633.00 73.64 2,532.00 1,477.24
Patrol Services 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Membership Dues 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Publications & Subscriptions 0.00 114.00 114.00 121.00 342.00 221.00 1,368.00 577.00
Conventions/Seminars 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Employee Training 150.17 300.00 149.83 We did not send anyone for outside 289.81 1,000.00 710.19 4,150.00 1,739.98
training this month.
Furniture Rental 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Car Expenses 0.00 38.00 38.00 No expense for this month. 0.00 114.00 114.00 456.00 152.00
Permits & Fees 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Credit Checks 636.65 372.00 (264.65) We budgeted 18 credit checks and 1,579.60 984.00 (595.60) 4,848.00 3,572.25
processed 31.
Guest Suite Expense 500.81 500.00 (0.81) 1,668.90 1,650.00 (18.90) 6,450.00 4,319.71
Parking Cost 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Operating Expense 2,335.70 3,226.00 890.30 Explained above. 8,827.96 9,796.00 968.04 40,096.00 24,185.66
1.00
Advertising & Promotions 1,694.00 3,500.00 1,806.00 Savings due to dropping of Apartment 4,706.49 14,500.00 9,793.51 44,000.00 24,400.49
Guide subscription.
Resident Promotions 32.42 500.00 467.58 No party planned for this month. 373.17 1,400.00 1,026.83 5,400.00 2,305.59
Locators 2,382.08 2,025.00 (357.08) Six locators fees paid versus five 8,943.39 4,194.00 (4,749.39) 16,070.00 17,544.47
budgeted.
Resident Referrals 0.00 500.00 500.00 No referrals paid this month. 500.00 1,500.00 1,000.00 5,500.00 2,500.00
Total Advertising Expense 4,108.50 6,525.00 2,416.50 14,523.05 21,594.00 7,070.95 70,970.00 46,750.55
1.00
Paint & Drywall 226.09 279.00 52.91 416.31 711.00 294.69 4,217.00 1,632.40
 Contract Cleaning Svcs. 1,820.00 2,859.00 1,039.00 Apartments left in good shape this 7,210.00 8,577.00 1,367.00 34,308.00 20,466.00
month. made for less cleaning
expense.
Carpet Cleaning & Repairs 2,095.00 1,287.00 (808.00) More carpet repairs were done than 2,535.00 3,280.00 745.00 19,446.00 9,197.00
anticipated with cleans.
Window Coverings 260.17 270.00 9.83 616.53 810.00 193.47 3,240.00 1,956.70
Vinyl & Tile Repairs 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Lock & Keys 0.00 85.00 85.00 No expense for this month. 0.00 255.00 255.00 1,020.00 340.00
Counter & Tub Resurfacing 0.00 417.00 417.00 We did not have any counter or tub 373.00 1,251.00 878.00 5,004.00 2,041.00
resurfacing this month.
Other Redecorating 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cleaning Supplies 21.61 158.00 136.39 Less supplies ordered for this month. 302.90 474.00 171.10 1,896.00 956.51
Total Make Ready Expense 4,422.87 5,355.00 932.13 Explained above. 11,453.74 15,358.00 3,904.26 69,131.00 36,589.61
1.00
General Maintenance & Supplies 500.52 1,000.00 499.48 1,290.44 2,288.00 997.56 8,611.00 5,078.96
HVAC Parts & Repairs 98.24 100.00 1.76 151.09 400.00 248.91 2,300.00 749.33
Plumbing Parts & Repairs 119.76 120.00 0.24 453.32 360.00 (93.32) 1,440.00 1,053.08
Electric Parts & Repairs 245.42 50.00 (195.42) 498.04 140.00 (358.04) 540.00 933.46
Roof & Gutter Repairs 0.00 0.00 0.00 0.00 0.00 0.00 3,000.00 0.00
Pools & Fountains (110.84) 100.00 210.84 Pool motor returned due to wrong size. 59.04 300.00 240.96 4,200.00 348.20

Gates & Entrances 0.00 10.00 10.00 0.00 30.00 30.00 150.00 40.00
Glass & Screens 0.00 260.00 260.00 No expense for this month. 0.00 520.00 520.00 1,820.00 780.00
Appliance Parts & Repairs 475.46 300.00 (175.46) 1,263.08 900.00 (363.08) 3,600.00 2,938.54
Hardware 18.61 120.00 101.39 47.26 360.00 312.74 1,400.00 545.87
Exterior Painting 0.00 0.00 0.00 0.00 0.00 0.00 355.00 0.00
Uniforms 0.00 0.00 0.00 0.00 0.00 0.00 600.00 0.00
Elevator Service & Repairs 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Security & Fire Systems 1,769.28 450.00 (1,319.28) Repair of sprinkler heads in 5,018.23 1,350.00 (3,668.23) 14,555.00 8,587.51
breezeways in building three and six.
Uninsured Losses 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Locks & Keys 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Bulbs & Ballasts 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Maintenance Expense 3,116.45 2,510.00 (606.45) Explained above. 8,780.50 6,648.00 (2,132.50) 42,571.00 21,054.95
1.00
Landscape & Grounds 0.00 0.00 0.00 0.00 0.00 0.00 29,581.00 0.00
Trash Removal 788.10 755.00 (33.10) 2,075.75 2,265.00 189.25 9,060.00 5,883.85
Pest Control 86.00 205.00 119.00 Savings due to no pigeon control 325.00 615.00 290.00 2,760.00 1,231.00
needed for this month.
Security Patrols 0.00 0.00 0.00 0.00 0.00 0.00 2,775.00 0.00
Window Cleaning Svc. 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interior Cleaning Svc. 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cable Television 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Snow Removal 701.86 3,500.00 2,798.14 Savings due to less snow removal 7,098.72 10,500.00 3,401.28 19,500.00 21,800.58
needed for this month.
Total Service Expense 1,575.96 4,460.00 2,884.04 Explained above. 9,499.47 13,380.00 3,880.53 63,676.00 28,915.43
1.00
Expenses - CAM - Electric 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Expenses - CAM - Water/Sewer 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Expenses - CAM - Gas 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Expenses - CAM - Grounds 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Expenses - CAM - Trash Removal 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Expenses - CAM - Cleaning Svcs 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Expenses - CAM - Maintenance 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Expenses - CAM - Insurance 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Expenses - CAM - R/E Taxes 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total CAM Expense 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00
Management Fees 12,113.66 11,344.00 (769.66) Based on % of collections. 35,391.61 32,907.00 (2,484.61) 134,836.00 91,756.27
No Name 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
No Name 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Legal Fees (1,250.00) 400.00 1,650.00 Five eviction fees this month, versus (986.44) 1,000.00 1,986.44 2,800.00 (836.44)
three budgeted we have not been
billed yet for the eviction paperwork.
Accounting Fees 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Postage & Delivery 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Bank Charges 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Partnership Insurance 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other Administrative Expenses 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Travel Expense 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Employee Activities 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Printing 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Computer Consulting 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Computer Expense 0.00 0.00 0.00 0.00 0.00 0.00 3,060.00 0.00
Bank Charges 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Development Cost 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Admin. Expense 10,863.66 11,744.00 880.34 Explained above. 34,405.17 33,907.00 (498.17) 140,696.00 90,919.83
1.00
Electricity 2,915.98 3,250.00 334.02 10,413.13 9,750.00 (663.13) 40,500.00 26,329.11
Electricity Gas - Resident 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Natural Gas 2,745.36 1,967.00 (778.36) Due to the increase in gas prices our 10,041.66 5,901.00 (4,140.66) 23,604.00 20,655.02
expense has gone up.
Water & Sewer 20,957.09 20,000.00 (957.09) Based on Arapahoe County 51,264.77 60,000.00 8,735.23 240,000.00 152,221.86
underestimating of February's usage.
Water & Sewer - Resident Reimb (8,871.37) (13,600.00) (4,728.63) Many residents disputing errors from (34,931.13) (40,800.00) (5,868.87) (163,200.00) (98,202.50)
Arapahoe County water readings and
not paying the correct amount at this
time.
Water - irrigation 0.00 0.00 0.00 74.35 0.00 (74.35) 37,400.00 74.35
Electric - Tenant Reimbursement 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Trash Reimbursement (1,803.54) (2,400.00) (596.46) (6,310.10) (7,200.00) (889.90) (25,696.00) (17,713.64)
Water - Tenant Reimbursement 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Utility -Vacant Electric 927.65 325.00 (602.65) Based on actual usage. 3,253.65 3,245.00 (8.65) 12,108.00 7,751.30
Utility - Vacant Gas 443.45 768.00 324.55 Based on actual usage. 1,817.02 2,520.00 702.98 7,837.00 14,413.00
Tenant Reimbursement - Gas 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Utility Expense 17,314.62 10,310.00 (7,004.62) Explained above. 35,623.35 33,416.00 (2,207.35) 172,553.00 96,663.97
1.00
Management Fees 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Management Fees-MRLL 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Property Legal Fees 0.00 0.00 0.00 1,896.50 0.00 (1,896.50) 0.00 1,896.50
Credit Card Fees 0.00 0.00 0.00 940.55 0.00 (940.55) 0.00 940.55
Bank Charges 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Bank Adjustments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other Professional Fees 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Late Charges 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
HOA Assessment Fees 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Contributions 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fiduciary Fees 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Custodial Fees 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Thunder Expense 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounting Fees 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Management Expense 0.00 0.00 0.00 2,837.05 0.00 (2,837.05) 0.00 2,837.05
1.00
Property Taxes 30,188.47 30,188.00 (0.47) 90,565.41 90,564.00 (1.41) 362,256.00 241,505.88
Franchise Tax 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Insurance 4,840.47 4,850.00 9.53 14,496.93 14,550.00 53.07 58,200.00 38,737.40
Tax Consultants 0.00 57.00 57.00 0.00 171.00 171.00 684.00 228.00
MIP 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Taxes & Insurance 35,028.94 35,095.00 66.06 105,062.34 105,285.00 222.66 421,140.00 280,471.28
Total Operating Expenses 104,607.62 109,702.00 5,094.38 315,768.31 329,915.00 14,146.69 1,386,542.00 859,992.93
NET OPERATING INCOME 198,233.82 173,897.00 24,336.82 570,443.21 492,740.00 77,703.21 1,984,350.00 1,435,314.03
1.00
Base Rent - Interest Payment 106,586.67 106,587.00 0.33 319,760.01 319,761.00 0.99 1,443,999.00 852,694.68
Base Rent - Principal Payment 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Stated Rent 86,666.71 86,667.00 0.29 260,000.13 260,001.00 0.87 1,040,004.00 693,334.84
Office Rent 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Rent Expense 193,253.38 193,254.00 0.62 579,760.14 579,762.00 1.86 2,484,003.00 1,546,029.52
1.00
Mortgage Interest 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Loan Fees 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest Expense 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest Expense 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Debt Service 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00
Partnership Legal Fees 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Partnership Accounting Fees 0.00 0.00 0.00 0.00 0.00 0.00 365.00 0.00
Partnership Travel 354.87 200.00 (154.87) 1,110.80 600.00 (510.80) 2,400.00 2,265.67
Partnership - Meals 70.74 0.00 (70.74) 172.27 0.00 (172.27) 0.00 243.01
Partnership Fees - Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Partnership Expense 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Due Diligence Cost 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dead Deal Cost 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Asset Management Fees 1,000.00 1,000.00 0.00 3,000.00 3,000.00 0.00 12,000.00 8,000.00
Investor Administration Fee 3,200.00 3,250.00 50.00 9,600.00 9,750.00 150.00 39,000.00 25,800.00
Partnership Exp- Leaseup Costs 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Partnership Expense 4,625.61 4,450.00 (175.61) 13,883.07 13,350.00 (533.07) 53,765.00 36,308.68
1.00
Exterior Rehab 859.02 0.00 (859.02) Golf cart batteries and covers were 2,852.02 0.00 (2,852.02) 16,846.00 3,711.04
booked under Exterior rehab by
mistake, should have been booked to
other capital .
Interior Rehab 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
HVAC Replacement 540.47 0.00 (540.47) Heating coil needed for apartment 540.47 0.00 (540.47) 1,800.00 1,080.94
#15201.
Carpet & Floor Replacement 9,488.59 5,000.00 (4,488.59) Actual carpets replaced are 10 versus 14,887.38 15,000.00 112.62 66,000.00 44,375.97
six budgeted.
Refrigerators 0.00 0.00 0.00 0.00 0.00 0.00 1,450.00 0.00
Dishwashers & Ranges 485.32 319.00 (166.32) Two dishwashers needed versus one 485.32 578.00 92.68 1,734.00 1,867.64
budgeted.
Washers / Dryers 0.00 339.00 339.00 No washers/dryers needed this month. 296.29 678.00 381.71 1,017.00 1,313.29

Fire Alarm Replacement 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
 Other Capital Improvements 192.60 2,610.00 2,417.40 Golf cart batteries and covers were 5,141.39 4,749.00 (392.39) 11,899.00 12,692.99
booked under Exterior rehab by
mistake.
Boiler Replacement 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Roof Replacement 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Capital Expenses 11,566.00 8,268.00 (3,298.00) 24,202.87 21,005.00 (3,197.87) 100,746.00 65,041.87
1.00
Casualty Losses 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Casualty Recovery 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Casualty Loss 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NET INCOME (LOSS) (11,211.17) (32,075.00) 20,863.83 (47,402.87) (121,377.00) 73,974.13 (654,164.00) (212,066.04)
1.00
Rental Guarantee 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
(11,211.17) (32,075.00) 20,863.83 (47,402.87) (121,377.00) 73,974.13 (654,164.00) 0.00
 USA Courtney Downs LeaseCo, LLC
Cash Flow (Actual + Budget)
Books = Accrual
For the 12 Months Ending Dec 2008

Jan 2008 Feb 2008 Mar 2008 Apr 2008 May 2008 Jun 2008 Jul 2008 Aug 2008 Sep 2008 Oct 2008 Nov 2008 Dec 2008 12 Month $/ $/ Dec 2006 12 Month $/ $/
Account Actual Actual Actual Budget Budget Budget Budget Budget Budget Budget Budget Budget Total Unit Sq. Ft. Reforecast Total Unit Sq. Ft.
342 313,778 342 313,778
Revenue
Gross Potential Rent 297,252 295,197 294,829 306,464 306,275 305,987 305,250 305,131 304,686 304,342 304,117 303,954 3,633,484 10,624.22 11.58 364,160 4,616,351 13,498.10 14.71
- Vacancy (14,979) (13,515) (12,201) (19,000) (19,986) (17,809) (15,591) (15,591) (16,802) (19,995) (22,418) (23,078) (210,965) (616.86) (0.67) (43,000) (300,079) (877.42) (0.96)
- Concessions & Disc. (10,069) (8,145) (267) (17,298) (15,717) (17,444) (19,316) (21,188) (22,560) (23,621) (24,370) (24,994) (204,989) (599.38) (0.65) (80,000) (334,953) (979.40) (1.07)
- Other Write-offs & Adj. (14,603) (9,805) (5,576) (6,677) (6,695) (6,696) (6,693) (6,681) (6,663) (6,634) (6,614) (6,605) (89,943) (262.99) (0.29) (6,085) (109,510) (320.21) (0.35)
Total Rental Income 257,600 263,731 276,786 263,489 263,877 264,038 263,650 261,671 258,661 254,092 250,715 249,277 3,127,587 9,144.99 9.97 235,075 3,871,808 11,321.08 12.34

Other Income 27,835 34,204 26,056 25,000 26,852 27,912 25,305 27,910 23,739 22,628 24,013 20,220 311,674 911.33 0.99 19,000 375,819 1,098.89 1.20
Total Revenue 285,435 297,935 302,841 288,489 290,729 291,950 288,955 289,581 282,400 276,720 274,728 269,497 3,439,261 10,056.32 10.96 254,075 4,247,628 12,419.96 13.54

Operating Expenses
Salary Expense 30,826 28,089 25,841 30,392 29,567 31,117 31,434 31,434 30,692 29,929 30,554 30,059 359,934 1,052.44 1.15 37,759 459,359 1,343.16 1.46
Operating Expense 3,660 2,832 2,336 3,348 3,460 3,520 3,544 3,444 3,336 3,264 3,204 3,180 39,128 114.41 0.12 3,030 48,656 142.27 0.16
Advertising Expense 5,531 4,884 4,109 5,801 5,901 6,105 6,327 6,227 5,340 4,685 4,731 4,259 63,899 186.84 0.20 6,885 79,961 233.80 0.25
Make Ready Expense 3,627 3,404 4,423 5,708 6,163 6,062 6,819 6,819 6,289 5,961 5,102 4,850 65,227 190.72 0.21 7,500 82,870 242.31 0.26
Maintenance Expense 1,403 4,261 3,116 3,115 4,490 3,885 2,920 2,730 2,513 12,210 2,672 1,388 44,704 130.71 0.14 2,295 51,189 149.68 0.16
Service Expense 6,708 1,216 1,576 13,323 6,678 4,985 4,985 4,985 3,960 3,960 3,960 3,460 59,795 174.84 0.19 2,395 69,786 204.05 0.22
Administrative Expense 12,525 11,016 10,864 11,547 11,829 11,878 14,818 11,783 11,496 11,269 11,189 10,980 141,194 412.85 0.45 14,969 178,745 522.65 0.57
Utility Expense 4,914 13,395 17,315 16,246 17,308 17,127 16,930 16,130 16,228 16,240 11,437 11,491 174,760 511.00 0.56 10,900 209,100 611.40 0.67
Credit Card Fees 1,416 1,421 0 0 0 0 0 0 0 0 0 0 2,837 8.30 0.01
Taxes & Insurance 35,029 35,004 35,029 35,095 35,095 35,095 35,095 35,095 35,095 35,095 35,095 35,095 420,917 1,230.75 1.34 0 422,149 1,234.36 1.35
37,237 37,237 108.88 0.12
Total Operating Exp. 105,638 105,522 104,608 124,575 120,491 119,774 122,872 118,647 114,949 122,613 107,944 104,762 1,372,395 4,012.85 4.37
Net Operating Income 179,797 192,412 198,234 163,914 170,238 172,176 166,083 170,934 167,451 154,107 166,784 164,735 2,066,865 6,043.47 6.59 122,970 1,639,053 4,792.55 5.22
131,106 2,608,575 7,627.41 8.31
Rent Expense 193,253 193,253 193,253 193,254 193,254 216,819 216,819 216,819 216,819 216,819 216,819 216,819 2,484,001 7,263.16 7.92
Partnership Expense 4,719 4,539 4,626 4,450 4,815 4,450 4,450 4,450 4,450 4,450 4,450 4,450 54,298 158.77 0.17 193,254 256,611 750.32 0.82
Capital Expense 9,734 2,903 11,566 12,546 12,458 8,074 17,804 6,600 6,259 6,000 5,000 5,000 103,944 303.93 0.33 0 114,248 334.06 0.36
3,300 3,300 9.65 0.01
Cash Flow Frm Operations (27,909) (8,283) (11,211) (46,336) (40,289) (57,167) (72,990) (56,935) (60,077) (73,162) (59,485) (61,534) (575,378) (1,682.39) (1.83)
(65,449) 2,234,416 6,533.38 7.12
Rental Guarantees 0 0 0 0 0 0 0 0 0 0 0 0 0
250,000 250,000
Balance Sheet Adjustments
Cash - Non Operating Accounts 0 0 0 0 0 0 0 0 0 0 0 0 0
Accounts Receivable (1,895) 2,740 (9,772) 0 0 0 0 0 0 0 0 0 (8,928) 0 (8,928)
Prepaid Assets (50,394) 4,840 4,840 0 0 0 0 0 0 0 0 0 (40,713) 0 (40,713)
Escrow Deposits (35,800) (35,800) (35,800) (7,125) (7,125) (7,125) (7,125) (7,125) (7,125) (7,125) (7,125) (7,125) (171,526) 0 (185,776)
(2,951) (2,951)
Cash Increase (Decreae) From Assets (88,090) (28,220) (40,732) (7,125) (7,125) (7,125) (7,125) (7,125) (7,125) (7,125) (7,125) (7,125) (221,167)
(2,951) (238,368)
Accounts Payable (22,965) 2,827 942 0 0 0 0 0 0 0 0 0 (19,196)
Accrued Expenses 20,453 31,811 51,607 0 0 0 0 0 0 0 0 0 103,872 0 103,872
Other Payables 920 2,385 345 0 0 0 0 0 0 0 0 0 3,650 0 3,650
Mortgages Payable 48,905 (6,027) (5,836) 0 0 0 0 0 0 0 0 0 37,042 0 37,042
0 0
Cash Increase (Decrease) From Liab. 47,313 30,997 47,058 0 0 0 0 0 0 0 0 0 125,368
0 144,564

NET CASH FLOW (68,685) (5,507) (4,886) (53,461) (47,414) (64,292) (80,115) (64,060) (67,202) (80,287) (66,610) (68,659) (671,177)
CUMM. NET CASH FLOW 13,834 8,327 3,441 (50,020) (97,434) (161,726) (241,841) (305,901) (373,103) (453,390) (520,000) (588,659) 181,601 2,390,612
181,601
82518.64

$700,000

$600,000

$500,000

$400,000

$300,000

$200,000

$100,000

$-

$(100,000)

$(200,000)

$(300,000)
Jan 2008 Feb 2008 Mar 2008 Apr 2008 May 2008 Jun 2008 Jul 2008 Aug 2008 Sep 2008 Oct 2008 Nov 2008 Dec 2008

Row 60 Row 61

Units
Sq. Ft.
### 384807

bayclub2 160 146,080

castlep 356 384,807
cedar 300 274,080
congress 257 254,074
jackson 247 221,730
lee 10 22,160
rem 428 398,868
ric 5 24,952
parkside 300 305,832
polo 440 403,761
sat 440 548,750
sweet 240 264,892
trailapt 280 286,056
vlgcrest 120 108,276
walnut 284 254,103
westo 12 48,309
wind 346 433,196
usacourt 280 299,111
usawalcr 284 254,103
W31: administrator:
assume insurance increases by 50%

W48: administrator:
replacement reserve + reduction in tax escrow due to overage
 Courtney Downs Apartments
March 08
LEASING & OCCUPANCY

NUMBER OF MOVE INS: 19 INCOME THIS MONTH: $302,841.44

NUMBER OF MOVE OUTS: 16 INCOME LAST MONTH: $297,934.75
NET FOR THE MONTH: 3 DIFFERENCE: $4,906.69

TOTAL # GARAGES 120

# GARAGES OCCUPIED 107
OCCUPIED/LEASED %: 96.20%/97.95% GARAGES OCCUPIED % 89%

SOURCE OF TRAFFIC: REASONS WHY PROSPECTS DID NOT LEASE:

Traffic Leased
APTGUIDE.COM 0 0 * Job Transfer 0
APARTMENT GUIDE 0 0 * Too expensive. 3
YELLOW PAGES 0 0 * Future/No Availability/Waiting list 5
OTHER. NET 5 3 * Just started looking. 8
BLUE BOOK 2 0 * Waiting for Home to Sell 0
RENT.NET 1 0 * Current Lease to Expire 2
LIVES IN AREA 1 4 * Needs Ground Floor 4
RESIDENT REFERRAL 2 0 * Moved Elsewhere 0
LOCATORS 3 1 * Will return with roommate or spouse 9
RENT.COM 6 1 * Realtor Looking for Client 0
WALK-IN 0 0 * Undecided 5
SIGNAGE 45 8 * Employment pending 3
WORD OF MOUTH 0 0 * House sale pending 5
* Rented at Competitor 3
TOTALS 65 17 TOTALS 48

CLOSING RATIO: 26%

MARKETING ACTIVITIES & SOURCES FOR THE MONTH

* Took brochures and price sheets to Holiday Inn Express.

* Took cookie bags with brochures and price sheets to David Weekly homes.
* Updated all internet ads with new pricing and specials for the month of March
* Took donunts with price sheets to Sky Ridge hospital Human Resourses.
* Took brochures and prices to Mann Theaters for employee break room.
* Brochures and donuts were taken to "Go" Motors staff.
* Met with Newman Home sales team with options of temporary housing for new home buyers.
* Dropped off muffins and brochures to King Soopers for the breakroom.
* Dropped off doughnuts and brochures to Centennial airport "tack air office".
* Took cookie and candy bag with flyer's to Marriott extended stay hotels.
* Took brochures and prices to First Data Corporation.
* Took lunch to locators with updates on specials and prices.
OVERVIEW OF COMPARABLE PROPERTIES:
The surrounding comps are still offering discounted rents on selected units.
This translates into one bedroom effective rents of $715, two bedrooms at $895 and three bedrooms starting at $1035.
Look and leases specials are 1/2 month off with a 12 to 13 month lease.
Overall market is 91.8% average occ.and rental rate of $826 per month.
RESIDENT RETENTION:
We had 24 leases expiring in the month of March. 11 renewed leases with a $43 increase.
Notices received; (4) buying homes, (4) relocating out of the area, (3) closer to work
(1) too expensive, (1) moving home.

INCIDENTS ON THE PROPERTY:

N/A
MAINTENANCE: ROUTINE REPLACEMENTS:
Number
Number of: Replaced Apt. #
MARKET READY UNITS 15 REFRIGERATORS 0
COMPLETE PAINTS 9 DISHWASHERS 0
TOUCH UPS 6 WINDOWS 0
WORK ORDERS 143 A/C COMPRESSORS 0
Pending Completed 0 CONDENSING UNITS 0
Misc 0 17 17 WATER HEATERS 0
Electrical 0 25 25 ICE MAKERS 0
Punch 0 15 15 GARBAGE DISPOSALS 0
HVAC 0 9 9 MICROWAVES 0
4305, 6102, 4208, 7111, 19109,
Plumbing 0 43 43 CARPETS 9 16208, 13207, 15201, 7112.
Property Ext. 0 3 3 CEILING FANS 0
Appliances 0 23 23 TOILETS 0
Safety 0 8 8 A/C FAN MOTORS 0
Total 0 143 143 COUNTER TOPS 0
ROOF LEAKS 0 CABINETS RESURFACED KITCHEN 0
19207-2, 9103-2, 7111-3, 12205-1,
12102-1, 13207-1, 4208-2, 7209-2,
PLUMBING LEAKS 0 BLINDS 17 6108-2, 7112-2.
TUBS RESURFACED 0
TUB TILES 0

CAPITAL IMPROVEMENTS IN PROGRESS:

N/A

PROBLEM AREAS NEEDING ATTENTION:

Hot water heaters are clogging up due to hard water calcium.
Pet areas are starting to show up in spots on the grassy areas.

CURRENT STAFF:

Manager Nancy Howland

Assistant Manager Carrie McMillan
Leasing Consultant Summer Wahrman
Leasing Consultant Kate Hawkins
Maintenance Supervisor Gabriel Tellez
Assistant Maintenance Russell Briley
Maintenance/ Grounds Jorge Chavez and Jorge Bernal

ACCOMPLISHMENTS FOR THE MONTH:

Main line sprinkler break repaired by building 3 and 19.
Removed dead landscaping in the front of the property, for new landscaping for the month of April.
Maintained a 96.20% occupied.
Courtney Downs
RENTAL SCHEDULE
March 08

EFFECTIVE EFFECTIVE EFFECTIVE Vacants Notice Net

UNIT TYPE #UNITS SIZE TOTAL MKT RENT MKT RENT MONTHLY ANNUAL CONCESSION CONCESSION PER S/F MONTHLY Vacants Leased Notice Leased Available
S/F PER UNIT PER S/F GROSS GROSS RENTS* PER UNIT GROSS
A1 1BR 40 704 28,160 725 1.03 $29,000 $348,000 725.00 1.03 $29,000 1 1 7 3 4
A1V 1BR 32 704 22,528 725 1.03 $27,520 $330,240 725.00 1.03 $27,520 0 0 0 0 0
A2 1BR 18 910 16,380 850 0.93 $15,300 $183,600 850.00 0.93 $15,300 0 0 2 0 2
B1 1BR 24 808 19,392 750 0.93 $18,000 $216,000 750.00 0.93 $18,000 0 0 6 4 2
B1V 1BR 32 808 25,856 760 0.94 $24,320 $291,840 760.00 0.94 $24,320 0 0 0 0 0
C 2BR 42 977 41,034 875 0.90 $36,750 $441,000 875.00 0.90 $36,750 6 2 5 1 8
C1 2BR 44 1,030 45,320 900 0.87 $39,600 $475,200 900.00 0.87 $39,600 4 1 8 0 11
C1V 2BR 22 1,030 22,660 925 0.90 $20,350 $244,200 925.00 0.90 $20,350 0 0 0 0 0
CV 2BR 24 977 23,448 875 0.90 $21,000 $252,000 875.00 0.90 $21,000 0 0 0 0 0
D 2BR 16 1,030 16,480 925 0.90 $14,800 $177,600 925.00 0.90 $14,800 0 0 8 3 5
DV 2BR 20 1,030 20,600 925 0.90 $18,500 $222,000 925.00 0.90 $18,500 0 0 0 0 0
E 3BR 24 1,140 27,360 1160 1.02 $27,840 $334,080 1,160.00 1.02 $27,840 0 0 5 1 4
EV 3BR 4 1,140 4,560 1160 1.02 $4,640 $55,680 1,160.00 1.02 $4,640 0 0 0 0 0

TOTAL 342 917 313,778 $870 $0.95 $297,620 $3,571,440 $870 0.95 $297,620 11 4 41 11 36
* Net of Concessions
 MARKET SURVEY
Courtney Downs
March-08

Apartment Name Courtney Downs Coyote Ranch Windsor @ Meridian Pinnacle @ the Creek Dove Valley Cherrywood Village Reserve @ South Creek
Address 15849 E. Jamison Dr16363 E Freemont Ave 9875 Jefferson Pkwy 6107 S Parker Rd 7550 S Blackhawk 16950 E Carlson Dr 15611 E Jamison Dr
Phone 720-870-6114 303-693-8787 303-256-7700 303-766-2500 303-362-2000 303-805-7200 303-680-6696
Location Englewood, Co Aurora, Co Englewood, Co 80112 Centennial, Co Englewood, Co 80112 Parker, Co 80134 Englewood, Co 80112
# of units 342 507 653 216 312 360 168
Age of Property 5 5 7 4 6 6 6
Application Fee $50.00 $35.00 $40.00 $35.00 $40.00 $35.00 $50.00
Credit Card yes yes yes no yes no yes
Pets Allowed yes yes yes yes yes yes yes
Pet Deposit 300 n/r 300-600 150-300 $100 300-500 $400-500 300
Sec. Deposit 150 275-325 300 $300 $100.00 $200-300 100
W/D included Yes yes Only In Select Units Only Select Units no yes no
Covered Parking no yes yes yes no no no
Garage Detached yes yes yes yes yes yes
Cable Yes yes yes yes yes yes yes
Tennis Courts no no no no yes yes yes
# of pools 1 1 1 1 1 2 1
Weight Room yes yes yes yes yes yes yes
Jacuzzi yes 1 1 1 1 2 1
Ceiling Fans yes yes yes yes yes yes yes
Microwaves yes yes yes yes yes yes yes
Mini Blinds yes yes yes yes yes yes yes
FF Freezer yes yes yes yes yes yes yes
Icemakers yes yes yes yes yes yes yes
Fireplaces yes no yes yes yes yes yes
Access Gates no yes yes no yes yes yes
Alarm in Unit Prewired no yes yes yes no yes
Door to Door no no no no no no no
Aerobics/Kick Box no no no no no no no
Movie Room no yes yes yes yes yes yes
Computer Library yes yes yes yes yes yes yes
Indoor Basketball no no no no no no no
Water Charge yes no yes yes yes yes yes
 MARKET SURVEY
Courtney Downs
March-08
(Concessions reduced rates)

PROPERTY: Courtney Downs Apt Coyote Ranch Windsor at Meridian Pinnacle @ the Creek Dove Valley Cherrywood Village Reserve@South Creek
PRICE SIZE PSF PRICE SIZE PSF PRICE SIZE PSF PRICE SIZE PSF PRICE SIZE PSF PRICE SIZE PSF PRICE SIZE PSF
Efficiency
Efficiency
1B1B (A) 725 704 1.03 755 779 0.97 710 627 1.13 725 685 1.06 715 768 0.93 710 707 1.00 710 763 0.93
1B1B (B) 850 808 1.05 795 853 0.93 725 701 1.03 805 705 1.02 750 842 0.89 730 796 0.92 727 763 1.05
1B1B w/study 750 910 0.82 835 811 0.91 810 760 1.03 765 992 0.77 760 916 0.83
1B
1B
1B w/loft
1B1B w/study 845 956 0.88 935 1051 0.89
2B2B (E) 875 977 0.90 940 1105 0.85 925 1044 0.89 960 1120 0.86 825 1115 0.74 815 1033 0.79 822 1037 0.79
2B2B (F) 900 1030 0.87 985 1192 0.83 975 1196 0.82 910 1220 0.75 910 1093 0.83 900 1037 1.23
2B2B (G) 925 1030 0.90 995 1180 0.84
2B2B (H)
2B2B
2B w/study
2B2B TH
2B2B TH
3B2B 1,160 1140 1.02 1055 1398 0.75 1185 1330 0.89 1110 1230 0.90 1120 1356 0.83 1195 1235 0.97 915 1257 0.73
3B2B 1190 1398 0.91 1305 1235 1.04 1045 1257 1.10

% occ /leased 96 97.95% 93% 95% 0 0% 90% 93.21% 92.0% 89% 92.1% 94% 91.8% 94%
Avg PSF 1 0.94 0.87 0.92 0.96 0.82 0.91 0.97
Avg Rents 884 1114 994 808 848 1131 995
/ Avail)
Units(Total 342 35 507 31 653 216 34 312 46 360 28 0 168 19

Special: $500 free gas

card or giftcertificate to
Special: Waived security Special: One month free Will not give out any Special:1/2 month free the mall w/look and lese Special: 1/2 month off 12 to Special: One month free on a
Rates deposit with approved credit. on 12 to 13 month lease. information. with look and lease. special. 13 month leases. 12 to 13 month special.
reflect these rates:
specials:

Ren.: 15% increase on all Ren: Info not avail per Ren: $35 to $80 increas Ren: Average $25 to $75 Ren: Free carpet cleaning
Ren: $50 to $75 increase. renewals. corporate Ren:Per corporate for 12 month lease increase. with 12mo.