EFTA01122413

Summary Investment and Purchase Price Analysis NO1 Before NOI After NO1 After Debt ICY Debt Service Debt Service Service / Capx Exit Debt as of Property Valuation Year 1 Year I NOI Year I Cap Rate Cap Rate Sep-06 Equity Yacht Harbor $ 8,500,000 S 844,463 S 83,234 S 64,734 9.9% 8.5% S 4.060,000 S 4.440,000 [torsi I larbor S 18,000,000 S 1,296,135 647,693 S 586,193 7.2% 8.5% S 6,523,000 S 11,477,000 Simpson Bay S 10,000.000 S 847,829 $ 518.746 S 313,246 8.5% 8.5% S 3,377,000 S 6,623,000 Village Cay S 14,000.000 S 1.117,941 S 219,858 (141,848) 8.0% 8.5% 6,925,000 S 7,075,000 Virgin Gorda Canyon Lake 16,000,000 $ 1,117.926 S 318,926 S (217,949) 7.0% 8.5% S 9,400,000 S 6,600,000 Crane Mills S 10,625,000 S 991,059 S 269,541 S (90,959) 9.3% 8.5% S 7,131,400 S 3.493.600 lakeway 8.000,000 S 827.481 S 313,379 S (305,961) 10.3% 8.5% 3,743,000 $ 4,257,000 Total 85,125,000 S 7,042.834 S 2,371,378 S 207,457 8.3% 8.5% S 41,159,400 S 43,965,600 rktelnal totems Tender Offer Interests wa ICY Total Value Cash (20%) Shares (80%) Total Value Cash (30%1 Shares (70%) Rhoades 1,384,271 $ 276.854 73,828 LPs $ 40,704,699 $ 12,211,410 1,899.553 Powers 1,318.871 $ 263.774 70,340 Olszewski 557,758 S 111.552 29.747 Total 3,260.901 652.180 173,915 Total S 40,704,699 S 12,211,410 1,899,553 Total Payout Total Value Casir ICY Sharel Total $ 43,965,600 S 12,863,590 2,073.467 EFTA01122413 Exhet lo1C bene un Ponta. venge, .119e197066 IGY Sari Preperly end Isarclese Poire Talualroo Ghb.l Model Assumptions Varie Hathor • Cap Raie Mail) 8.5% • Veer / bled on aljtigal 20'. I le/tel 1101Il 1.500.000 I et 1non. TX Haig Iladay 110F II 11..30.016 Coupon poeierdei revenue roc/taled b3 14% aie! exportes eacreaseiby 18.000.0» Lute Triol, TX • Rom Year 2 web 3% psont. nue fer bout Revenueand L>penscs Valise Cin INOF 111 14000.000 744700870n I74.; V9pn Ueda mon ni *unit», i(000.000 • land are loure bain axe Aurd a1 3% Stmeson Luy 11011II 19000.000 /0,009000 Sr Maartca, NA • Odet i fonnaba• hos bon peseta St Sto as ofUme.. 10. 3006 Conon laleCtanes MO MOF III imams» 11500.000 (*Nam, lalle.1X All Ines et amena sole tue...dune ree endof11w boldos po•od • A global toi cap raie dl 5% lakway N'A tempo • Gang =op rte baud ce Yor I NOPFurdee PIKC 8.400.000 Trot* TX • Corail lettnteons wed nie boa on Se. 5)1 Relaie fM all inoprees Tee 85.125010 69000.040 estes VC S to.attli oeaty o 3006 Capital %tete> ba> taled Noir Purcluse Nues Ineed are Mes animes1ot euh property onrollo Roll Up M'Optant') 115 prar Ilel Properly Fud Famine rite Indu& Velfib> UMM." Onan* Prit. IRR IRR IRR Cap Raie Cap Rage 8% Naleeeet. Oteendl (lameleiteel.) Voel. Herbue MW' Il (a3(9.043) 0talarlal .0.1. Base Case NO% 185.123000/ 161% 226% Dag Mea AIOF Il (1S.000.0001 195% 10.9% 85% Yes 93% It0.5611,7501 170% Yllinto Cet 610E III (I4.011.1.0ffl 251% 214% 11.416 15% Yn 90% 176.61?-301/ 180% Ouvr. Garda MOF 111 28.1% 231% 12.1% 15% 116.000.0601 Yes lb% Sommai Bey MOM III I72.156.2501 190% 319% 268% 121% 85% IIOs/30.000i Yes 8161 168.100.01. Conon Ltnoteaties Mil M01111 202% 372% 30.6% 13.6% 8 5% 110.625.00)1 Yes 75% (61.843.750/ 21a 457% 761% 145% 15% lakenny 18600.00)i l'es Yser lied rend Iseremeats Purehase Prim IRR 1RR IRR 5% __ Cap Rite Cap Rn. le.e ana I d >irae>) (golug.14) 1 !Lai- IRYTI1IROI-- 1721%— — 2/4!: — 21 5% 10 Ra 95% 111; 1 ? 110.81775.7571 184% 707% 24 1% II a 8 5% 00% (74.6i...5047) 190% 346r. 271!í 15% 01156.250> 121% 15% 209% 40.01 3125i 128% 8 5% tel insocisno) 221% 4711'. 3611'. 13 6% 85% 75% 161/43.807 23.0% 51ri 47.Y.: 14.5% 85% ber I lold Perred laotien. hecto, l'Ose 1RR IRR IRR 5% iap Cap Raie r me aie li e • 93% 90% 115125 «01 180.8.5.750/ 174612.504 0ealertra. 18 Sy% 405% 219% 3u15: (lorette mtCapEs) 7421. t I 9% Ree) eag4a 9%. I14% re II5% 441!: 12 3% 12 1% t3% 85% 171156.2911 231K 400% 3772',. 8011 (G8.700.005) 12.8% 5% 254% 471% 44.81: 13.6% 85% 75% (61141750) 274% 57p: 34 9% Il NI 85% III IIMd retend latrenicos Percluse Prie IRR IRR IRR Y. Ce Raie Ibbetasit IDA- holetten11 Rotent a/C•08,1 ) 9M. 05 125).+An 1502:68./50) 43 P. 23.K Teli) 42 6% 199% d61% ‘VI. tue I 90% 114% 8 514 176..42.5001 261% 31.2% 437µ 121% SN/ 85% 172-756.2501 288% 62.I% 53 4% 80% 128% 55% 164.100.0001 31 7% 768% 6675: 136% 15% 75% 161841.7501 149% 965% 149: 14.5% 85% 28410 EFTA01122414 Raab IC Unna .384 83.8do Viseber»84 13032008 Yacht narber 61F I1 1.4433.94:4 Putchne Prim IRR IRR IRR 3% (wMosiag regt) fair Rate Cap Rar 1144t411940/ 11event9) (In«ad 9/CapEal trat (ø11l Bar en. I(% IN )17,,.0.10) 136% 1271. 124% 9 8 Sei 95% (6915.[09) 145% I4 ei 1181. 90% IU 3% 8.3% 0650.0101 154% IS 5% 153% I I 0% 85% 1' 225.0001 8.5% 164% 173% 170% 11 7% 80% 168000001 8.5% rra 1751i 194% 191% 124% 75% (6.355.0m 8.514 187% 220% 21 6% 13.2% meront.hz ier 8.5% Harm Mutet MOP 11 setiversTne mi2R6windRip _ IRR wend %dt. eaRP;Ratee,.. 931i C.:89P‘5ili55etEalt 7 n. ere. 0 5..to.wür 138% 79% 04.2200CA» +es 19 3% 72% 15 8% 100 let; 94:01 :(0, :»1 5% 183% 65% 8 51: 6% 226 474 21 4% II I% VIllar (ui 510F 111 lacroomat. ruaaaaae Pikt 111R IRR IRR ('ap Mut (åp Rate 5% 1efelesia ) (Sine«!) Ilwe(404 (levered) 41851(44413r8PIXI (d01 -8» .3 14 ) 0) 11 9% 114% 128% 8uk i , ee j • . •. 90% 112.4000501 136% 165% 157% 89% Km 0 1.00051781 143% 1801% 115% 94% 85% ein 0 1.:03.Ccel 153% 20.7% 19.6% 100% 85% 55es oo.sooxesze 8.5% 169% 235% 222% 1008% ('iap 851% %WSGott MCW III latreenteti rumhast rrke IRR MR IRR 5% (u/41Sn ca.%) Rate ('ap Rate Rare t.au. I(nei 9)% 90% c In ui) tu.» °Via/ 001 114.441.0031 (uallIm41 92r. 100% 108% ginend1 94.% 110% 11419,941 a/CaPEI) 8.6% 10U% 1 118.14) 801 74% re 5% 129% 11.8% 7.8% 85% 85% (13500.01101 117% 153% 131% 80% 82% 85% (12 403.003) 126% 182% 164% 87% 7544 (1251000051 85% 13.7% 221% 19.8% 9.3% 85% Slcuptun Ila) WW III lacnevate hrcluwPrke IRR IRR IRR Cap Rate cap Rad 5% . valtetreel Wend uh% 'Et j 4al 0_9.10.034 127% 144% 13.5•.% 894. 90% 19000004 85% 130% 158% 146.% 94% 8514 tu% 01.1000Uui 145% 17.3% 163% 811% 100% 85% (8000.00CI 155% 191% 179% 106% 75% c enoinini 212% 854 100% 19915 113% 854 (*na)on 1.4144Crnoes 51111 %UR' III hwitataIs rearcliaw hic, IRR IRR IRR 5% Cp Rate Cp Rate (Webtim MIO (..bland) PIteerte Ilnaud w/CapF4) I Bote (Ase 101% (10.6.15,WV7 189108-0 . 11 Rain 124% 39 43. 134% 93,4 II 5% 95,4 00005)90 Ines 2211t 1)11.• 90% 98% i5% (9.562.5101 142!' 25.4% 176% 104% 85% 303% 85% (9011.2%)) 1311% 205% 11 014 8.13 (15160009) 85% 161% 37.61% 24.5% 11.7% 75% (7,963.7971 i5% 173% 51 2% 307% 124% 85% 1-4:rehay WA latrema% rerchete Pikt IltR IRR IRR r= ( jr,..ap ../4131wu.6 2.2 Cap Rote Cp Rar i_ tt . tt:1 prgr_nh ing .tedi In e im lev ithipi r .." ett!‘ ar! 95% (7,tagi,tVul 167% .. (01. /7 20u 0.K.) 177% 229% 155% 115% ES% 85% 16.800.(.)0G) 18.7% 251% 16953 (64005xx» 122% 8514 198% 27.2% 184% 129% 75% (65905XX» 85% 210% 31.2% 10.)% 118% 85% 3d10 EFTA01122415 [item IC Rome • SinPortia* vaur6.6 th 9,97006 Asioetpi oat 1aliudsoom Dew Roitioe Properly lafecouila• 36p Rriet Mciatiot Worn See Rao 21) Purchase Pnio 10500.000) Ilabse 4460.000 Un(nit.1Stan lArtme (Rooth 34% Cap KM(Goingiall 21$ S164 • SIT pet WM! goo 99% 1,1V 4$% Coined Slips 190 5272 . $312 per ?dome COGS 64% Cop Rale (so LS% Rae Myr lot (SRA% Wine Dry Dxk tardily S26 590 per Monii 6AX ORR (uallaeled) 130% law 17 Rod Reilei Mpn Foe so 61' IRR (reeted) 12 1% Aeon IS CBHane Saks CoatiR Yea) 10 391. 1RR Dented w/Csoliel 1.721 SF 124% Maras 07112017 Slam nida 562 SF lemma Yea 10 Calealis clopiatn1 Form& Rae 80% Nom lawn I loran. an4 l.ad Icamsan 0.80 64 3% wadi Rov.16 Aeon IS 2 Lon B rubies la 2038 Ataatily 101/20:0 3 ltiard 00in - Ray fen. Smite Dora Iltotetage, Boat la Year 0 1'ett I Year 2 Year) Year 4 year %or Vtar II Vest 1 1'mrI ler 9 Yes 10 MIK 2017 MOS 2000 IMO 2011 (sod Rotate taller 7011 NI) 2014 2013 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% Sips 70% 1,178.10) 1311.443 3.0% 3,0% JAX 1 ac1 1.240,546 1357.142 1.175.962 1.165,741 1,444 717 1.441,914 1492,112 1.517,153 MateriCat4611ctoii • • Reath • Uplaof talus 2% 29410 30,797 31,711 Deft, 37673 1141.1 34,662 35.703 36.77) 37.810 39,013 Deed OtX•t . - • • • • MetiRe 7% 108.100 111349 114.895 115,142 • 110.6610acr 121.91 124.149 119.316 113,195 137,191 141.101 12% 183.766 IS9,275 191.956 203/05 206429 Gros, Receipts Ta. • 213.0)4 219,425 226,000 2)2.75 239.772 Tom,Inane 1.300415 • • 1.545467 1491,419 1.639.162 14511.336 1,724.744 I.7111.1136 1144441 14011157 1.15/345 Col ofWeds S.4.1 6% 96.004 921.554 101,551 101406 108.DM 111.295 114434 115171 111111 125.261 'teed Gross kOTIMI 1.441.144 I.414113- 1.4715,665 1.5.1.114 1,530.10 1417.691 421 %of lemma TO tip 11.11•1. 3.4% 3.0% 3.11% 41% 204626 210.971 217.300 223.119 Aftin 3% 230334 237,450 244,573 251.911 259.464 267,252 15,605 16.073 14155 17,02 17,544 µoo. 4% 18.705 15611 19.192 10.701 20,161 19,231) 19141 70.444 21.057 21.669 22339 11% 57415 59,137 21.010 23,703 24,411 4% 21,797 22.451 60.912 62.739 64.621 66440 *557 70613 72.732 74,914 CAM RoarhiiKane - • 23.124 23218 24,533 n.zaa 26.027 26301 77.612 21410 Laid Leas; 11% 53.164 54.965 • . 56.614 51312 60.062 61.861 63.719 On 1% 7400 65.631 67400 69.621 Iftamic 7.710 7426 7.640 7,279 II.114 LIM SAO 3,54,7 12% 5$.320 00.010 61.02 63.725 9.131 Re Ta.n 9% 65649 67.609 69.617 71.756 73.178 76.0)1 44,603 45.979 47,159 41719 50.267 Adaiarm al l 3% 51.750 33.102 54.402 36.5011 48,245 24.09 24 Th aetrile. 24 000 2400 24 DX 34.900 EifellSc Margin 611100fole ten) .00.29 1,71373 .110131 1.14444. I. • .. 1.444 Fee 51.91.7 55,563 57,27.1 59411 1:4149 •2,718 61.643 66.625 65467 70,710 Adju1141301 104.413 270493 NO1 Mutt 817.254 724140 933.140 414371/ 1414733 64. 60% 60•. 1173,711 1.104711 t'4 Valor 60% 60% 00% 1103., 601 61% 12 652.514 Cash Ilan Ile4ir I'S Ix Nn term $41,143 17649 1142111 924.440 1M,10.1 143470 1,012.733 1.073.7t 13.761.317 Debi Soviet A 522407 524391 33.397 MX Sink. li 526.197 526.567 520397 520.397 212112 134851 2123132 578.797 $21,307 DSC I 11x 1.146 I IE. I 7$% 1.304 1865 8925 2 04. 26 04. Cash Ma Ana III /UM 1494(4 DM Pay Don 136.036 396.41L1 414.144 454181 414.3.% 317.315 13.232.934 Nu Casa Fin 14 440.(00) 53.1)4 104,241 72a II) I34" 396,484 424,941 4%01 147115 0.141.117 11111 (tioikvered) 134% IRK 13.7% Capaal Iniptoiantais12006 .2010) 102.00 16402 2.3400 15.04) 45430 Nd (Stab Ilea ita/Cap. Imp) 44.440,000) 64.731 25.761 121.056 351.413 4244116 454.102 4511.336 11411(lntndl 124% SIS.295 517.185 9.501417 Cash a Cash LS% 1.9% 2.7% 731% 9.6% 112% I41.9% 114% 12.2% 40110 EFTA01122416 E•4344»us• 4.414.4.1•94•444.3399•4006 ~km \Solis DM Pos. Osth reopoty 1•44.4tais 514. 1St Kota« lichen IS Ws 10 64/4/34 99.e 111.000.000) liana 4.921,000 Shp. E3pse Gnsth 34% Cap Rate (Opined.) 52134-5731 pat.:ann. Sips 72f: LTV 363. &NS 5113. 5213 pn itemli COGS 33.1% Ca Roe lan) LS% Fa Sui/iRe Mom 90)0111411 7 123'. %Op Noe Oilier 3ei.I« 11.0 46% MR CurdscoU II 313 Tam 10 Foci Dank Mg=Fet »GP NM 1KR ONN63) 131% Awn Sak•Costio Vs 10 23 Romani Ai% 111111os• tv.C3p1',1 10.13 hIstunty 101f20111 us bOLerµt toes' Vas 10 Roush 043•134nsi Vomit:0 N01•3 7 iota cilinateed (i.r 5131 I Tort 441Land Leas are thud qt 13. anual p.n.!), 143/cumed Jo to:I. 44.43 and ...3 KC Ilk". 2 Lan slues in 7008. sad • est./4104W 3 Ilidat.11».. Sc.. ire ND( . 140I filll+i w, DINO' /Wt., no. LM Atmal 142r 0 Van I Yew 2 NS I 1041 Tor 4 Idor 5 Vs 4 Year 7 Vow II %•f »16 NW IS 2009 Vtur 9 Vo• IC. Dock Ikeveise Tfil Rev »10 2811 »II 2013 »14 34% 3.0% 240% 3.9% 3,0% 2615 sir 42% 1.318415 3.0% 3,0% 34% 34% 1,354.452 1399.217 1,671384 1.764019 1315,930 1,470.408 11% 337471 141011 1,926320 1.984,115 1.044541 Wate./CaLlollIccs 3581152 4)0342 451.649 465,193 474.151 493.529 - . 5013/5 523,545 Offish . - . • 6% 1155,010 190,550 196.267 2/5320 247,246 »4,715 267,156 274727 716,114 266,684 Unkind 1 coo 4% 130,010 1OM 13).900 114917 142.055 146316 150,706 . 155.227 159334 144.680 169.421 ISO 03-4, . - . . . • • - Seraxe 15% • . • . 472.661 4143147 501.452 601.743 6113/0 • cas..1(tann 22% 708300 440,785 OXUS 690.418 711,110 732,444 G-0,5 kc<citn. 730,024 751.966 902359 947,477 975.901 1006,178 . . 1,035333 1.036.»3 1.094.3.13 [OW Kt. filet 3.153.110 • . 3.747.8» 3,345494 3490403 4,1 434 - 4I Cs of Gs:1354d ' 742.9 13% 13110373 1011.792 1.161446 13169921 1381,910 1.431.367 1,416468 1310390 1.514352 1.602413 ToniCoo Roos 1.901.413 3.111452 ;176,00) SNI.144 2.67x905 1305.4% 2,971363 % of 346.4340 3.1574» 3,257,573 43peeno '30 4:10 3.1% 34% Pa3/011 3.0% 3.6% 36% 264.4» 772.754 23934 289.364 44nin li% 298.045 )06.987 316.196 325,682 315.432 51141 60,113 61.914 4.776 63149 345.316 "li mn 3% 67,660 69.690 71.740 71,914 74.132 39484 41,010 42313 43362 44430 6% 44236 47473 49,052 50,514 52.0» 61.603 63,445 65,351 67.312 69311 71,411 les 6% 45310 73354 75.740 78.013 111,37.1 CAM Itembuisers 47,226 44412 30.103 51403 31,131 14.747 - • 54390 31,0411 59.114 lad Low - • . 7% 50,420 31,912 51.469 55473 • 1% 56.726 58.427 44186 61566 63.141 5590 6,139 6.312 6302 4497 WM 65,741 Sean« 16% 115,200 113,6% 7.1115 7318 7.317 7,761 RE lam 122.316 121882 129,659 113.541 137.555 141,641 10% 71,340 71413 75.621 77.390 145.932 150.310 Adsla 89.226 337,61) 84112 137465 90.243 3% 244930 24 0011 24900 24,64 93,014 1•14144peee3 — ii3;113.3 21.0.10 34.001 , :2i.0 737.337 7k.'737 7kg: !Win 826447 160.931 ENpose Margin is', 35% 1'462 4275 730.115 937›..14 35% 35% 30% 393. 29!. 29% 293. 29% 'S. NOISSe cumr 1475,16 1413335 1,444.%5 3.878412 1.478419 2341914 2,111311 1141345 £336.2.2 2,29;838 Mpul 71,111 79,219 85.010 137,614 112223 III"» 121,333 134415 119.113 133,512 137.8» Adjeued NOI 1.144.114 1496.135 1332,215 1372.931 1,758.197 IMO" 1414379 1.97 NO1Mas 64 63'. 01.. IS Value 613. 66% 663. 66% 64". 638. 24648,913 Ca011s Moir IIIS .18000400) 1.2941» 1332,216 1372.931 1,798.197 14160,199 1.414371 1,974.753 2,034474 1.1196.198 26348.143 INIn Soviet 441.442 6134412 64447 6.13.442 618.4/2 648,442 414443 200, 20% 7 123 01442 411442 6,11.442 271; IN 2 963 3 05; I43 323; 4134; Cnsb no. AINT DS 447,641 N, 1/~e 60.114 724489 1.16044 1311,07 1.246.137 1,314.111 1486.2» 1.447447 743160.431 NCI Cad. Iles 111.4774001 <4 toil% IRO lealesed3 113% IRK oron41 111% Coda, Oesnements(2044.2.010) 1011000 61,500 105.503 1.4 14.000 699420 342410 No CS. /1•• (uttap. 111141 111.477500) 1116.10 171,34a MR (Send. 444451» 416414 869451 1,161337 I.326311 1386130 Ili% 1447.917 21249,014, CobsCash LI% 14% 4.0% 34% 7,6% ILO% 314% ILI% 124% 5 Of 10 EFTA01122417 f•Ttil ro tC atm. - S•PerllaSo V•Vosss If* 9190091 As/amplios Yahwism P44 Ramie Gigot/. Peoproy lateramia• Lip Hatt Rona< Iuktn ]See Row 21) heehaw Teo I le.06)6/0i Balance 9.400.0:0 Slips taps% Growth 10% Cap Itate(G365/n) SI W • SI 30 pa low/Da., Ewan/ distibuiell smog 70% LTV 59%5101250 COGS 4/0% Cap Role 1801) SID Por Fe9V8Ionih =pi 4.5% Rate primal rod Hack Mimi Fee ISRMI SA% IRR (Wowed) 92% lam 10t1 Algol Fee toGP I) 13345104 Na IRR (Ien:red) 94% Anal SlOrape SalesCoils9 Year ID IS Bank Service Dept 10% IRR 110/teolvalh) 56% Ntswiiv 2011 llouiarpc. !soil Yee le Resume:ion Onelegnoral Poiea Noie. 9 acre eased <Paned bar 3rd any- 6100M pine range I InWil 46414,4 1even are &off* 1% mewl locos", 12 6.-rt ule whrie bauvard n %manhunt/0'MM, by oc lid wow 2 13Narii flier- Service Dept ad Lease Reinbaseineob Add: Renal being developed and160S by Banco Pogadai 3 Mgmt Fcc is grow of 5%0 NIN et $5.300 pa moat Canna. boat/aroi for bola me foe had Year 0 Yawl l'oar 2 fl oe 3 Year 4 Year 8 2003 %of 3106 46.e6 Visti %curl Veld 9 Wee IS Dart Ronne 2017 2444 2009 2410 1111 3011 Ti Re. SS% 5.0% 1013 1014 WIN S.ps 10% 3.4% 3.0% 3.0% 10% 17% 652,100 684.915 719.161 740736 31% 3.0% 1,31 1931 762.9SS 745,344, 109,422 433.701 853716 534.477 talco 737.20) 4=.651 151354 476994 Wrenn/NO Rom 903,301 930.407 953319 947.069 1,016.681 5% 181930 192.077 201.660 207.731 211/63 Itatials n0.382 2216.99) 233.303 240417 248.011 • • Uplaad am/ 12% 471,140 401535 501.341 : listai 321.591 539=9 555,478 issn.4 72, 178;1 6 339306 625,105 lister Ma SoNage • • 19% 739740 776.714 115,574 440341 1165,243 itSINI ()der 1,070309 401.200 1:9 369) 45320 74 ®6 9731$16. 1314.119 1340.715 131/734 1,251206 iasi.773 Gran Recenxi laa 1.409.369 1..4 °C4 5145 1544 local W. come 317.1.1.19 4.6511.4 4.334.73) 4379.1115 4.5111446 4454$3156 as.spu e41.466 4 91=1 5.476.745 5.429.1145 Co. of Walt Sal 3712,717 4856 1.459,774 1944163 1041833 2.165310 2330.073 2,296,976 1.361345 1.436461 3.509.907 Iota Go». Rorer 1.79 2.014.716 1.110.5I0 2.110.902 27771 580 2-145.666 1415.913 %of 2 . n inon, IS rap 14%, 3.0% 1.0% 3.4% Pad.di )6% 174,451 282.655 211365 198900 30407 310.164 Ainin 14% 109333 327,709 337340 341666 354.006 S n 112.61) 111991 110.471 123.055 126.747 7% 51303 52.777 54,361 114.549 131.466 111503 1.12.655, 9.991 57371 19.401 61113 61019 U% 117=0 111.076 131010 64,909 66,857 IA060 143331 147,520 151955 156314 16130 5% 34.650 35390 36,760 37.863 166,015 CA111(nebursore 318999 40160 41,174 42315 41401 . 45.219 Isol Leaac • • Oilier • - • - . 8% 60,795 62419 • • • • Irnoramt 640497 66.4)1 61.425 70.478 71593 74.770 14% 107.110 110.313 111621 wpm 77,013 19.131 RE Taxes 130.542 124.15$ 127453 131.719 05.671 . . . 139741 Acrertm /et - • • • • • local L•pente. 764.1= „TM Expense Marto, 31140 831749 =Oa 4Y,61 431 33% 31% 37% 37% 77% 3ri4 37!. 371 NOIlletfoit kcal 1175.144 1.622599 1611,971 1321.203 SIgng It M4,2eA I32.000 I31.00:0 132080 171000 131030 132.000 112.000 I/2 (do 131080 131030 Adjosied NOI 1.117.926 1.1/0.7= 1344495 1.3=440 1.352,715 1=7.261 1.44/144 1.490=9 NOI Maven 4993 5546 101. 1.139,1171 13111.241 Cs Value 57S. St% Sr. 51% 55% 54%, 545. SI% 11113507 t'inlo How Before IIS 116w...),000) 1.117,936 1.190.746 1.167305 13111.410 1552.735 1307.244 1411144 1490=0 1.5301/71 117l4.940 Debi Scnice 709.660 1.I 10.736 DSC 1310.746 1110.746 1.110756 1.110.716 1,110.334 leg I Oh I14. 1.114.756 1.110346 1.110,716 1 Ita 1 _n. 1:h 130. 114a 139x i776‘ Cash Roo Mier 115 3111424 79,94/ 15%749 1ht. Pn 1)....n 191444 141.430 246.450 111,154 379411 4111=4 14414,023 0.021.1%) Net Cailt Ilya (63303801 318.424 79.9541 156,709 1=04 141,934 316,444 =LIM 3790112 47.11,14,1 12,140.1167 IRRIale.eatd) 93% IRR Or. or./ 4.4% Capes InNottnittes(20%.201(1) 536.875 536375 (o/Cap. Imp.) 16,600.000) 017.91% 793134. 156,709 195694 141,1= 246,480 332=4 37%612 IRK Merrill LIS 418.244 18,540=7 Calla am Cad, .3.3% 1.2% 1.4% 10% 3.7% 43% 3.0% S.4% 6.5% 0M10 EFTA01122418 rUN+aIC ate-- o • Su• Panna wotuten .1.9117e09 AtemplIons Uhuino• De111 Proper) Inienonilto Renne Gienen 114 Ihm 211 Purchale Poft 910Ila. Reeeno Ilriene Expowe Gene 114.003.020) 6,925.400 1'ieed Slipt tos s1 25.5325 ixt romIXEr 04doo Iteinemon - too111e.nage sale. 1.4% C46 Rate 1Gdog in) 8058 13V 49% ruel Dock COGS 29.6% Cum Ratekår) Slips P.Igra Fee (511.11 1Oa IRR (ielne,61) 43% Rat hime • I Renvar 11905 otein..4 119% im 15 14-heninonao Pappt Fee loOP N/A IRR (letentl) 174% Asorl 15 SalosCcels 10 Vom so 3.0% IRR (lemed wir eile/ 121% 144,4112 11/2020 70040 Vor 10 Potential Dettlopinewi Holet Redevelop lind 1. 14ani ad lad Leaset ne 6,46 3% notall Onletb (2.,gewe, owen 2 con6a, wr pwcmW» ordne enn/ 2 1)04,610Jet - Foot Beenge ad Alacluidne Pionind man rØ.Ø 3 akent rt. n gros of ne of New 11.930 pa reonla 3.136.3 eiparnien • And to rnien Adwg Year Von 1 Um 2 War 3 Year Von Warf Tar) nce 9104 2806 2/1117 30111 2089 als all Yen 8 nm 9 Year 10 Dock Nnen.c. 11Rev 2012 2013 1814 2815 5.0% 3.0% 3.458 3.0% 34% 3.1% 31-re 20% 910.030 455.312 1.013.301 3.48 14% 1...1 1.013407 4044410 1.096342 4124212 1,161309 1.198801 7% 343.010 161250 140363 391.713 1,213.042 Wator.Vdiea.kctoc 404527 4134» 44.101 440444 454173 467.798 8% 365.052 183304 412.469 414,343 426.930 439389 432,981 Rurale 4e4572 480.269 494,916 • Upland 1nie, 1% 13.100 1).940 35.010 Iblel 113.060 37.142 382% 19,404 40.581 413101 17% 768.900 037345 $47,712 $73.144 43654 Hotel Otte 899.318 926318 954.103 981731 1.012213 1042379 2% 115.071 120825 14.866 136472 131.592 Swesor 133.630 142389 147872 151.414 154029 • 1.9441004, 45% 114.301 2220661 2.332.009 • Grau Recent la 2.401.969 247404 7.348,249 2.624.697 2,701.44 2.44411 7,868.077 1nd Renner .49/ 4411 4.652.44 4.414.46 5.127.737 • 5.731.569 14414916 5444216 5374313 5.94440 6.13446 4306.449 Cost orGoodi Sold 1.097.497 295. 1349.134 1.416.420 1.427.044 1,53105 1.577.603 1.624.9.13 1,674681 4714191 1.775444 13128.1% 14441Grote Renen 2,814.561 3283101 ,7 4460493 ,49.919 3.4624 3373.244 ,097412 4,229,161 47.171 % of roprines Til 3.0% 3.0% Penn 3.0% 61% 1.289347 1328.501 3.1% 1,363,356 Laren 1.451,449 Atom 1.494240 1.540.097 1386300 1.63449 1.682.006 5% 159388 144,1» 169.065 174165 179.43 114.774 190,31$ 96.027 201801 207,965 3% 34355 57,016 01376 614488 62.12 61,172 4.091 63480 70,122 72.235 8% 154.880 159327 164312 1(4242 174319 179,549 14% 283,04 14935 190.43 incose 292.84.1 201324 303275 309%1 714%2 735319 317462 344101 ('MI kretetnesont 338344 360.140 On Lullean • 6% 3847 3,180 4275 3.373 3.421 4579 3.686 2% 37.810 38.951 3.797 3411 4.024 Imunini/ 40,102 41303 42344 44821 41115 46.49 47,134 3% 69.804 71,898 340%5 74277 49330 RE laxes 78.565 8e22 2.350 85.850 4.416 91378 Adein Ne • • 1'014reprinn noner • • — • • • ,11197 • .241413 2.31 sesso 2,572.127 meum 1.675.161 1.40isc /L(in 65% 62% 61% 60% 604 toti 60% 60% 40% 69% 69% NOlibero« Im) 977.414 .24 . .324032 .444 .\1132 416.65 1.692.414 1.746297 1,798486 111pm kt 132.010 173.03) 132,030 132.000 132.000 ULM 113.000 111803 132800 132.000 132.000 Adjten1HOI 84.5.454 1.1117.941 1.221132 1.34496 NO1 Maren 1.374)71 1.419.562 1.4.4.109 4514.142 1.5634.41 1.614.217 1.666.414 )0% 3,4% 353. 37% 17% 3718 Lug Valn 3751 37% 17% 3”... • 19819.817 Ca* How Mt« us 114.000.000) 1.117.911 1.221,033 1.310.4% 1.37071 1.414.462 1.444.109 13141141 1.543.434 1.414.197 14646.513 Ilea Service 5'911.032 394192 Ilse 894082 898.082 498142 143.(92 14082 sntuaz 894012 1 24. 154. 4% 15,1a I5/. 593012 163. 16% 1 74. I Kn 2.3033 Cad, fim Aker DS 2193143 322,954 433.411 Den Pay Mn. 476239 521.410 M8•127 615.970 664111 714215 19.741.431 Nei 041, Hem (1.074000) 219453 321.920 19700321 432414 476.289 521.41 566,027 615.970 665.351 716215 /6.809.398 1141tIonlen441 11.9% IRR Deteee41 114% Capdal Inipantmerci12005 .4101 361.706 361,74 Na Cn1, 0.1(.p. I.M) t7 oft 600) ei ei 322,941 IRR Oneredi 144 244027 614974 663331 if ernr309 1L816 to ('40, .2.6% 4.6% 4.1% 4.7% 7.4% 3.0% 47% 94% 10.1% 728 10 EFTA01122419 FNdebK woos • fin vMMe ~assn.% ens«. Astampilems 1 aloailin Debt Res~(Ireml, Pespesty lidsenaidieo Shp Hoe Roams DM« (144 I ban Il ) Porchne Tee t10.00:,yont Italiace 3)77.000 Slips F.49MoGeohth 120 SI 70 -53 30 pa fool/Day Slips 3.0% Cap Dale (9oin8 se) 115% LTV 34% Fuel 004 COGS 509% Cap 104e (toil) 45% Race kid 54.ene Pee (141.4) 0 52% Vilde PierriMein 64%. Ikle (ualneeed) 11 9% lain hips Fot »GP 7 Roseatant NIA OM (Iewed) 13 2% AnNt Saks Come 0 Yew 10 2.5 II% 'RR Deviled h/CtoEM 17 3% Minni15 1011/2017 'I comsat Vow 10 Dnolieponeat Poleneiál Notes Hu» 4331 de<1 • ATM Co eniew I. leesni ant/ Land LeasesKt fa4 6/ 31. mina grosth 1.a9.65 tor mcp 1,..sek vips- AIM io oniesh 2 Imo»oat in 2012. anosined 6:s <molded 1 Ildand Odes - Senxe l»14 »a‘stioanst.D00 aece 4 Mimi Vet is wooer of 6% of 5101 oe 53.500 percron:S AC(910 War 0 Vair 1 Yew 2 Yew 3 Venr 4 1ór5 2003 %12 1446 Vole 7 Year 4 Vow 9 Vent 10 »14 2•13 2011 2009 2610 nil 1k.í Rosner TI1ta 20,2 2.113 2111 2.015 Sa 5.0% 3,0% 3.0% 3.0% 4054 1.231.775 3.0% 3.0% 3.0% 30% 1.296314 131040 1.402.110 1.111.215 1.47.571 1.532.200 'al »51 84500 087.513 1,571.164 1.011811 1,614,27$ 931,883 951845 9881.11/ 1.018.293 1.041.848 1Vder/C4WEJectie 18% 539,343 566231 104114 1,112,723 1846.105 $95,067 612.919 631207 45024 669,73) Rawals , 689446 710,141 7.447 Upload laws 3% 90,310 933119 95.110 4084 101,615 144.694 1078115 Had 1111110 114:972 117,834 11441C4or »wage Wand Other 12% 361.833 379.977 14974 410,94; 423114 435,977 409,051 Wets Reoeipts Tm 462.523 476.398 490090 Told Revenee 2,671.49 3.071012 0.113.734 1.363.081 Mar» 3.,- :NA 111)« 3929916 40N375 4161.112 Can or Goods Said I 308,113 1.535.911 1.611,47 54% 1,691,540 1.742217 1,79055 1.041.102 1,903,44 1,000419 2.019.714 2080.311 Total Gross Ranier 1.363.186 %of .540.844 1.160.1159 2.019.48 2.041.331 »lows II 1;r i 10,1c41 3 231.152 238.087 245,230 357,969 Adam 1511 29 24 7. ." 5111 100,441 101:4 25027 29 79 6.008 84 292817 5,44109.4 105,560 2109 51,377 151 26°43...8 0115 (4 110441 2 17 Ill 47,1» 411,740 51708 8 2.:4 32 06 51 3 2 ;2;p3 07 211 0 R6 y 53,259 31 18.5 41.202 73.631 16,14/ n,731 Whoa 91.39) 94,135 60.7» 1.7.541 61.348 I S4 7I;2 9:52 CAM Reebutteerni 198 104 5 66 71.7 9242 o Land I oue 6% 41892 • 44, 11,9 47143 45.2» 46.587 %, '4 055. 713 : 058* 3 011a 5% 32,40 lenutanee 31.421 37.414 4 3017 1, 8 1871:ss0 613 5% 1 4°.$3 5:0117 1 9"51.1" 30.134 )337C. 46 231184 30.135. 39.45 RE Tams 431,7'1 746 104° 3359 402..:*4 9:" (1 40 4371. 45253'117 1 6°31 AMA 14 4% 1'11d Extorts »pease Mat& 667.146 49% eititi 4ibil 40% 1%1 766' »0 12;5737 52 ? 25,2t0 7».7» 71 2» 74.952 21»0 /rƒ/130 • 811 25. 5274.5- 21.207 8292112 40% 41111 40% 40% 13% 40% NO] (Wore /41) 100.379 1.012429 1.043.7M 1.1770.4» 1.108.864 1.142346 1,1 7:09 1.214.0.3 4Y. 1.251,199 Mont Fe< 42,400 ---"T335- 46.160 :2 :725;17 00.74 02070 61,550 44,532 60.573 70,676 72,141 73,072 Adjosaed NO1 658.379 *47,129 894.845 951342 »LI» 1.9II183 1.042.332 Lg1,.51J I,IOTINI 1.101 Matro 411 11% 56% 361e 1,111.1g 1.074.1P rAA VithIC 56% 5911 5019 56% 56% 57% 17% 13.421.613 Credo 11ost Ildoer 115 i 10 Vie ,A all 847.1,29 40.145 950.871 9$1.1311 1.011.24 1.041,332 1.074.313 1,107.253 1.141.111 14.5,7,115 DM Smite 32943 179,011 129,063 371.081 329.013 120.011 )20.031 135C 254 t12. 11..053 1291011 320,441 249. 208x 107. 317. 3.36a 336x 347x 4416x Cash /Ian Maw US 511.911 545.40 On.7119 6.17.4114 1$3,740 713.254 745.230 Wm Pa5 On.. 711.170 112.401 14.2111.732 Nee Cale Hon 16.623.000) 518.74 560.013 t` ftan 1171 422,989 652.«.6 68724 7133» 7f5.230 770.170 812.14 11.419.$95 11114144nert4) 11.1% MR rote 13.2% Caoaalloyeo•eesen:s (2006 2010) 462.020 205.500 73.100 »,000 51.000 51.000 Nei< ash Ilea iNtsp. Itegaj 16.4.2/.0e0) 313,211 47.701 X2,789 4,01.016 614 713, 771.171 11110 firward) 123% i,m9.5,3 Cash en Cash 42% 7.4% 13% 0.1% 94% 10.1% 11-1% 11.1% 12.1% 80/10 EFTA01122420 Fett C I•946 Papleio,141.awiirlpIPPYPOC4 Asmseprlors Voleatiom DM Ratan ChOoll. Pram«) 1014r...466n 51« 'tale Rtramt Dram Pk* Rim III hnbasehict 110.62330)) San« 7.131.40) Ups4:1, 447 linprome Grua» 33% Cap Rase190itt 80 5114 .5436 pr Mond. Sips 93% LTV 67% Sips -CM 250 5219. 5349 Cavell'«Mora Otha COGS 27.6% Cal...K(04M 13% Ret 6.35% Dry 5:01,,PP Mgr For (5031) 6.0% IRK kardentrail 1243: Tenn Sama 'lepe 7 Senate Den BeNtegw Mon Fee »GP 33% IRR Revco, 194%AØ. Sales C011$ Ø VP, I0 25 Ship &me Merclundue 3.0% IRR Ilmered 6.4Callx) 134% Atarky MOTO« fuel Md. lanai Yen 10 ~Infant De•amposal Polcalin Rare hat 47 Dom Brokarme Nora Tam Gruntb poinnal. 754. ecemiel 7 I lam« ad Land Loam me thed a 1% 366.01 pao...0. Aar, 25 1,9~4 On 44a,ø 444114n can be ov a, 2 Lay «Mum ø MOB. assumed es tmeeded Maturity kr_virti - reta5gwe • ATM lo rain. VMsdfT.4a Se4 let Dry< . Boar PP% pew 4 Ms« /a m peat on?. o<N9f or 51.300 pa numa Ware far I Vex 2 Yen 3 la, 4 %d 2606 Veer 1 Yaw 6 1'ør7 \tor 5 Sod 9 214/7 2011 2100 2011 Vat ID Don. Ito now Til Rev 2911 2011 2013 all »15 51t4 3.0% 3.0% 30% 34% 1.0% 55% 1422.363 1.465.034 3.0% It% 18% 3.0% 1.41 1303913 1354.234 1,6003111 1645300 1.691,376 6% 1453151 150.227 670327 1.$01307 1,555361 WarertableffRan: 154.73) 159.375 16435) »9361 174.134 • 1793771 184360 190.302 Ratak - • . 13% 329.350 330.231 349407 . 3/1.890 370.1436 »1,107 »3.361 403.619 417.211 429327 Upload laws 2% 60.030 613t0 16nel 66654 63,561 67331 69.556 71643 7).792 730» 73,6 ~I Oaf . S1~ • . . • Ili 32.510 3).866 34,512 35029 UPIal Otta 37307 31.117 »360 40,418 41.01 42031 23% 600317 611,141 637.407 656.529 Goo Raq9slaa . 676325 696.512 717.407 738.929 761.097 . ,1030 ToldRost 3.596261 2.461.9» 3.749.000 • 3014.541 3016" 3"293 36J4101 l.lY49EJ 1317 V3 3.313 COSI G60d) Sold 27% 609410 720.6» 742340 761316 787,452 $11.075. 535.407 P40,470 116.214 912372 Told Gross Renarv 1343349 %o8 "694 2.32635. 2.39%241 2.463,6 Ewa«. Is rap hetoll 45% 377.114 358.427 Admen 410.010 412401 424.445 417.17/ 451294 T% 54352 55.912 57.667 463.503 477.717 463.01/ Man.« 50,191 61.171 63.005 NSW 66341 6% 51303 31.064 51646 65.151 70917 R&M 56,5 S7.074 19313 61.501 63350 7% 62.3, 41391 ".124 65.230 67.2(4 Uaties (4.107 70351 22,255 76423 76.6% 6% 51.631 33.11.1 14,779 78055 81,724 CAM Remburseneem 54.422 53113 59.1151 11.654 63.50) 65.0). 67)71 Load IØ • - • Carr • • - - . . 2% 14993 14,4» 14.853 . • Ireuranco 15.2011 19,737 16,2)0 16.717 17311 17,735 14% 117335 3263% 134309 1,331 131,975 13267 RE Taws 7% 56.740 135.934 1"012 144.211 148.539 152.995 513.453 60217 62.023 61,134 65.0» 67374 Mr« fit 6% 4$ 0» a osz 69,506 71002 74019 Total Captor. 41000 4111110 41,000 41000 Alt») 2.5.2<nse Mmgen uz:ins 1:::2511 9<0.741 931:47.5 457,477 915377 460:0 4344» 44% 4, 4 1.013S» 1.1343.3.47 1,1172,118 44% 44% 44% 44% 4.. 44% 41.. 4IP. NO1ar(o« Via) 1.024441 .01.016 1.121362 1.161.264 1.197.241 1.231329 1.273317 1.411660 1.253.211 1399.948 Mt" ftt 67467 65.512 07,5(4 46077 71354 740% 76.405 71,754 81,233 83.757 Adjuutd NOI 991451 6016.354 NO1Mayo 1094.4» 1,1151497 6125.799 1.139333 1.197611 51% 334. 414. .1,1% 1274276 . GP Kea fa 32.155 514. 33% 53% 53% 539. 33304 10,741 31.753 32 743 33.771 5)% Ent Value 3432% 33.910 37.0, 38.130 • 39346 14.974417 Cal Iles Berme IPS 110.621000/ )57.24 595.543 1.026343 11.8459 6091037 1.126.901 1.144.102 1.197.23 1.234.47* 16.247342 0." Since A 539,126 V(0.326 •49.11. S.4.126 559.126 339,324 314.326 Dek4 Soma 8 121.3101 12833 559.326 559326 559326 1)5( 1213388 121355 0 0 0 0 0 I øv I45 110. Ilex 191. 0 701. 201. 214a 22% 390% Cø6 ni». Atha 1/5 20.541 »7449 339429 311.144 Debt Pay Don 532411 546,02 601.776 617322 679.152 15417014 Nei (ab Ilan 41493 000) 269411 3673411 fl 106 4 I% 3•31019 371344 532411 544.652 691.)76 637322 05.153 mAsi.at 1811Ialetta41 114% Km (mend, 19.4% en...I lenpro.emnt 00% -TIMM 2476.500 36030) 226.2«. 3)1,900 131.100 1399000 Nei Cam Itoa. (0/(107 0[34 0.I93Ø) 190.95/ a 1140 7.129 212444 (16ø,121I 5~4i 61776 MR Ilnesed) 134% 63 013 ø64N KAM") (3n, en Cad, .24% 23% 4.2% 6.1% 16.2% 17.2% 11.3% 133% 9 a( 10 EFTA01122421 444.419.44.4•11444.110~1494•99/2020 41444011444 Yana Deb4 Nopmy 1.4.004.9 Ap 1104 amen= Delia Mari Oral 3.11% Mar Ire 18.00,960 Bata 3.743.010 Slips 140 St/ • 5650 pee Month 560 Expense Goal 3.41 CIO Ale Wrings) 103% LlY 47% Chata Vad: Real COGS 424% Cap bra*/ LS% Ra 977: la Dock 011e. %nice 01ped Fee (MAI 6.41% 1RR (waded) 131% 14.4 10 11031 trot eegc An Fr to GP NM IPA fleka41 19 3% Aeat 25 Rani & (Science (etdr Sates Cosa fi You 10 111% IRS (14460 01C401591 13 3% rank 44/20» lama Yew 10 Raw 7.505: Notes lam I. 1aum aiel lind lemma (94 6135: rood pa% Axon 2 Loan mahnes in 201assumed i: w aveln! Marcy Innow 1. la Rmages a 2007 4. Upland 41es - axe la Baal Lill Nleiandew. Berra Actual Yawl Year 1 Vert VW) Tar 4 Vow 8 Yer 6 Year, Tail 1 or 9 Vat 10 NON %14 2906 HO 244 3409 2419 2111 2012 2913 )814 2845 Pock Rena 111Rev 3.9% 11.0% 30% 19% le% 10% 30% 30% 3.1% 510 35% 918.149 945449 1049,934 1.071.647 1,1032% 1130,910 1171011 124142 1242,332 1279.602 I o.1 15% 39100 402210 441,003 436293 469.912 44,031 44604 313362 523.9$9 544)38 Wietotabk,1167.7; . . - . • . lault 21% 730.146 752.07 127467 151703 171,31.4 904.01 04772 959.713 94517 1.01/172 trolls 144w. 1% 440 21205 34.931 23,679 30419 27.343 4000 21402 20,10 30.602 kul Wed Wet Swann 4a1 tat 22% 582,24; 599,750 09226 679317 699943 720,900 742.52; 76180 787,747 811379 C0011KNCTI5 1 Told lima 1499,44 3.643.748 2.725341 3.43.41 3.04.4411 1.174.413 3,073 4.7 3.371010 3471,40 ;517,7,11 3.60444 Coa of164$ Sall 1,039,r71 42% 1111223 1.144,559 1,258,304 1,20603 1334434 1,44492 1,416232 1,451,719 1347,333 191a1Oron Rettnot 1469243 14,14343 1340.583 1.13 .07 1,789J8 1443401 1291,715. 1,45.749 2.137259 %or fl peant. Ts KIM 16,:e9 34% 348.743 256,206 30.592 271,109 279,963 4.3.162 297413 305.923 315.101 324.554 /Lan 9% 56.9119 53.07 0.45* 67272 4140 66,063 4046 74.04 72,190 74,336 Melons 8% 51539 55,145 4100 311501 60259 62,056 611.92/1 65444 67242 0,856 11.9.M 3% 39%0 301159 31.783 32.738 332211 34,712 35.774 36347 37,052 19991 Ugrees 5% 1440 33047 37.025 31136 39.790 40,439 41,072 42,921 44,210 45337 CAM 14,44.mene 0 - • • - ail lax 41 28.803 29,661 4.554 31471 32.413 33387 4389 31420 36.41 37.577 Oa t% 16.410 16,192 17,19> 17421 11.4541 19.012 19.512 30,170 70,75 2114 Image 1051 107,64 110473 114,204 11143D 121.159 121794 124337 132.193 110265 140.430 4.14a 9% 4301 57,891 5901 61.420 61311 6110 67.115 69.129 71,201 73,339 Main Ece 4% 344000 4om 34 900 74000 4 4 24 000 24.010 24100 7n010 1601/spends 547.49 OM AM» 434.101 akiti hysinc Hawn 40% 40% 49% 40% 4411 NO1fleav Fees) 87240 i07,i93 91144 1340.749 1,15t691 1211302 1.248232 1.27443. Pip,. I'« 52,240 49478 54,31.1 62315 (4,413 64,40.• 68,441 70341 72,701 74,921 /7,116 Adjimed NOI 1120,124 337.411 140334 979,395 1497.454 1,010.414 1.972.394 1,101150 1.1312141 1.11417 1.30%719 7.04 klan 4% 54% 31% 56% ¶4% 50. 50. 57% 57% 56. 375. Pui Value . 11110105 Ca lut. liar 14 19.020900) 937411 850,134 919.195 1,049.454 1410.414 1.02,304 110,150 MANX 1,173431 15414244 Debl Senxe 514202 314,103 40.492 03,492 403402 401492 401.492 403.492 40102 40302 'Sr 1414 10% 243x 230. 254 2 607 274x 2120 291x 37 21% Cad. flou Afxr DS 313479 336,034 575903 605462 $36.922 444,111 791.07 74449 770.335 14.611,454 13:1,1 04a.... 12.389.977I Ntl Ca lb. 14.147.020) 313,379 330.031 575.903 6442 636,922 441.811 191457 215019 770.335 12.271.775 11111 (sanned) 151% 1RR Omesed1 19.3% Caput hammants 12000 -2010/ 2.636-X0 019.34 1.481.663 143.993 191001 155101 Ncl Cali Ilia (wear. lap.) 14,137349 401941 il.I12.13a 391113 41/981 48141 14911 7411,147 735,49 770.335 12221,14 111111104901 13.3% ('ad, 44 end. .2735. 9.2% RI% 11,3% 717% 10.5% 17.1% 19.1% 109410 EFTA01122422