Courtney Downs November 2006

8/14/2019 Courtney Downs November 2006

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USA Courtney Downs LeaseCo, LLCBalance Sheet

Books = AccrualNov 2006

SETS

69,663.420.00

ts 62,375.06$132,038.48

vable 12,605.24es 37,139.44

227,891.85rk Cap Reserve 33,005.43 Escrow 200,000.00

sets 510,641.96

642,680.44

S & CAPITAL

le - Trade 10,613.26 Payable 569,973.61

302,825.025,397.54

ts 61,701.56(328.39)

950,182.60

100.00gs (307,602.16)

(307,502.16)

ES & CAPITAL 642,680.44


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USA Courtney Downs LeaseCo, LLCCash Flow (Actual + Budget)

Books = AccrualFor the 12 Months Ending Dec 2006

Jan 2006 Feb 2006 Mar 2006 Apr 2006 May 2006 Jun 2006 Jul 2006 Aug 2006 Sep 2006 Oct 2006 Nov 2006 Dec 2006 12 Month $ / $ /

Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Reforecast Total Unit Sq. Ft.342 313,778

356,941 356,261 353,425 356,370 356,790 352,042 356,753 356,720 356,720 357,700 355,328 364,160 4,279,210 12,512.31 13.64(50,457) (41,504) (32,721) (25,521) (27,566) (20,448) (24,375) (29,656) (19,795) (27,386) (32,196) (43,000) (374,625) (1,095.40) (1.19)(80,765) (83,296) (83,632) (87,552) (89,252) (91,481) (83,568) (82,402) (79,734) (80,099) (80,362) (80,000) (1,002,141) (2,930.24) (3.19)(5,393) (4,621) (13,129) (3,761) (3,761) (3,761) (8,525) (4,902) (6,891) (6,370) (6,051) (6,085) (73,248) (214.18) (0.23)

220,326 226,840 223,943 239,537 236,211 236,353 240,285 239,760 250,300 243,846 236,720 235,075 2,829,196 8,272.50 9.02

26,619 19,852 32,398 25,588 26,964 20,730 20,479 29,442 23,112 27,168 26,551 19,000 297,902 871.06 0.95246,945 246,692 256,342 265,125 263,175 257,083 260,764 269,202 273,411 271,014 263,270 254,075 3,127,097 9,143.56 9.97

31,314 27,779 25,751 34,224 28,896 30,735 32,813 30,497 25,074 32,939 27,075 37,759 364,856 1,066.83 1.164,125 1,829 4,155 2,418 3,488 1,785 4,044 1,759 2,987 3,546 3,528 3,030 36,694 107.29 0.12

10,172 7,867 8,790 12,875 9,217 4,566 9,311 9,128 5,468 8,689 3,394 6,885 96,362 281.76 0.312,824 1,468 6,877 3,034 6,347 6,868 4,319 6,576 2,661 5,755 6,286 7,500 60,516 176.95 0.19

484 2,348 2,996 938 1,390 2,786 4,753 1,299 933 14,604 4,679 2,295 39,504 115.51 0.132,095 (1,911) 750 1,089 7,856 6,550 3,601 3,942 6,370 3,538 1,973 2,395 38,249 111.84 0.12

15,018 14,773 20,876 15,092 17,309 15,941 18,145 18,942 16,905 17,508 15,877 14,969 201,357 588.76 0.6417,811 10,978 5,261 9,118 8,907 9,673 13,946 10,892 14,755 13,099 7,614 10,900 132,953 388.75 0.421,732 605 (2,311) 0 (26) 0 0 0 0 0 0 0 0 0.00 0.00

34,178 39,883 33,892 33,962 41,050 36,561 34,740 35,107 33,746 36,233 35,713 37,237 432,299 1,264.03 1.38

119,755 105,619 107,036 112,750 124,435 115,464 125,672 118,141 108,899 135,911 106,138 122,970 1,402,790 4,101.72 4.47127,190 141,073 149,305 152,375 138,740 141,618 135,092 151,061 164,512 135,103 157,133 131,106 1,724,307 5,041.83 5.50

193,253 193,253 193,253 193,253 193,253 193,253 193,253 193,253 193,253 193,253 193,253 193,254 2,319,041 6,780.82 7.39

1,511 40 324 595 169 0 0 0 1,128 62 9,150 0 12,979 37.95 0.043,871 (782) 8,204 6,055 3,698 14,150 7,730 3,637 2,383 5,646 3,806 3,300 61,696 180.40 0.20

(71,445) (51,438) (52,476) (47,528) (58,381) (65,785) (65,891) (45,830) (32,251) (63,858) (49,076) (65,449) (669,409) (1,957.34) (2.13)

66,280 58,055 58,308 42,302 0 0 0 55,178 45,798 42,772 45,351 60,901 474,945

792 (2,230) (4,698) 2,407 6,708 2,152 4,182 3,545 (771) 9,084 1,271 0 22,4449,672 (940) (590) 4,549 (4,100) (8,512) 14,748 (1,503) 626 (2,785) (3,429) 0 7,736

372 (275) 86 156 1,384 280 7,106 15,908 6,446 (17,590) 451 0 14,324(34,325) (34,325) (34,325) (34,325) 324,584 (30,394) (30,394) (30,394) (30,394) (30,394) 25,664 (2,951) 58,029

(23,489) (37,770) (39,527) (27,213) 328,577 (36,473) (4,358) (12,444) (24,092) (41,684) 23,957 (2,951) 102,533

(5,209) 4,548 22,679 5,948 (1,420) 65,950 8,685 30,415 (53,751) (9,112) (15,790) 0 52,94234,702 17,279 26,292 32,763 (282,521) 115,337 25,645 23,477 32,478 45,961 22,329 0 93,7411,398 6,448 1,789 (2,315) (5,212) (3,153) (2,593) (5,234) (2,080) (4,145) (3,449) 0 (18,545)

0 (763) (382) (382) (382) (701) (382) 0 (391) 0 0 0 (3,382)

30,890 27,511 50,377 36,014 (289,534) 177,433 31,355 48,658 (23,744) 32,704 3,090 0 124,756

2,236 (3,642) 16,682 3,574 (19,338) 75,176 (38,893) 45,563 (34,289) (30,066) 23,322 (7,499) 32,825

29,014 25,372 42,054 45,628 26,290 101,466 62,573 108,136 73,846 43,780 67,102 59,603

UnSq. Ft.

## 384807

ba 160 146,080

cas 356 384,807

ce 300 274,080

co 257 254,074

jac 247 221,730

lee 10 22,160

re 428 398,868

ric 5 24,952

par 300 305,832

pol 440 403,761

sat 440 548,750

sw 240 264,892

tra 280 286,056

vlg 120 108,276

wa 284 254,103

we 12 48,309

wi 346 433,196

us 280 299,111

us 284 254,103

2006 Mar 2006 Apr 2006 May 2006 Jun 2006 Jul 2006 Aug 2006 Sep 2006 Oct 2006 Nov 2006 Dec 2006

NET CASH FLOW CUMM. NET CASH FLOW


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50%

duction in tax escrow due to overage


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USA Courtney Downs LeaseCo, LLCBudget Comparison

Books = AccrualFor the period ending November 30, 2006

MTD MTD YTD YTD AnnualActual Budget $ Variance TD Variance Comment Actual Budget $ Variance Budget YTD Variance Comment

355,720.00 364,160.00 (8,440.00) 3,912,920.00 3,938,374.00 (25,454.00) 4,302,534.00

730.00 0.00 730.00 2,130.00 0.00 2,130.00 0.00356,450.00 364,160.00 (7,710.00) 3,915,050.00 3,938,374.00 (23,324.00) 4,302,534.00

ues 0.00 0.00 0.00 0.00 0.00 0.00 0.00(1,122.00) 0.00 (1,122.00) 0.00 0.00 0.00 0.00

(32,195.83) (40,058.00) 7,862.17 (331,625.27) (350,332.00) 18,706.73 (390,390.00)

ns (1,075.66) (2,000.00) 924.34 (107,397.35) (22,000.00) (85,397.35) (24,000.00)

0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00

(1,130.30) (500.00) (630.30) (21,039.40) (5,500.00) (15,539.40) (6,000.00)

(1,980.00) (1,980.00) 0.00 (21,780.00) (21,780.00) 0.00 (23,760.00)0.00 (575.00) 575.00 (1,725.00) (6,325.00) 4,600.00 (6,900.00)

(1,780.80) (1,900.00) 119.20 (19,588.80) (20,900.00) 1,311.20 (22,800.00)nance Fe 0.00 0.00 0.00 0.00 0.00 0.00 0.00

(1,160.00) (1,130.00) (30.00) (3,030.00) (12,430.00) 9,400.00 (13,560.00)

s (79,285.87) (83,497.00) 4,211.13 (814,743.55) (935,567.00) 120,823.45 (1,019,064.00)

s Income 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00

ce 0.00 0.00 0.00 0.00 0.00 0.00 0.00$236,719.54 $232,520.00 $4,199.54 $2,594,120.63 $2,563,540.00 $30,580.63 $2,796,060.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00

0.00 68.00 (68.00) 403.23 748.00 (344.77) 816.00e 0.00 0.00 0.00 0.00 0.00 0.00 0.00es 858.00 2,300.00 (1,442.00) 19,521.70 25,300.00 (5,778.30) 27,600.00

m 145.00 300.00 (155.00) 2,112.23 3,300.00 (1,187.77) 3,600.00700.00 1,300.00 (600.00) 9,343.45 14,300.00 (4,956.55) 15,600.00

ees 0.00 0.00 0.00 0.00 0.00 0.00 0.00910.00 1,000.00 (90.00) 12,530.00 11,000.00 1,530.00 12,000.00

mages 2,892.68 1,033.00 1,859.68 27,448.44 11,363.00 16,085.44 12,396.00

719.48 500.00 219.48 11,433.85 5,500.00 5,933.85 6,000.000.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00

3,132.66 900.00 2,232.66 27,334.73 9,900.00 17,434.73 10,800.00

0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00

nts 0.00 0.00 0.00 0.00 0.00 0.00 0.006,241.50 8,700.00 (2,458.50) 71,919.17 95,700.00 (23,780.83) 104,400.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00e 5,317.87 1,000.00 4,317.87 15,748.67 11,000.00 4,748.67 12,000.00

loper 0.00 0.00 0.00 0.00 0 .00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00

250.00 190.00 60.00 1,490.98 2,090.00 (599.02) 2,280.000.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00

900.00 2,000.00 (1,100.00) 32,565.00 22,000.00 10,565.00 24,000.00

4,323.57 929.00 3,394.57 44,165.98 10,219.00 33,946.98 11,148.00

160.00 225.00 (65.00) 2,884.12 2,475.00 409.12 2,700.00

0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00

se 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00

utions 0.00 0.00 0.00 0.00 0 .00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00

Due to marketconditions, could notincrease market rents.Continue withconcessions.

Correcting mis codedrent from prior momths.

Positive variance due toactual occupancy of91% versus 90%budgeted.

Positive variance due toreduction of upfrontconcessions.

Additional write offs dueto 9-skips.

Savings due totermination of position.

Savings due to reducingthe proratedconcessions on selectedunits.

More residents paid ontime resulting in lessfees charged andcollected.

Due to residents movingout and renewing,storage units are notbeing re-rented.

Collected more feesdue to new homepurchases.

All new move in's with

pets are required to paya non refundable pet feeand pet rent.

Fewer rentals due tohigher turnover thanexpected and lowerrates given as move inincentives.

Includes quarterlycollections for phoneand cable, includes an

accrual for futurecollections in 2006.

Budgeted for 13 moveins, had 6 actual.

More damages chargedat move out thanbudgeted. Move outshigher than anticipated.


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0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00

26,550.76 20,445.00 6,105.76 278,901.55 224,895.00 54,006.55 245,340.00

$263,270.30 $252,965.00 $10,305.30 $2,873,022.18 $2,788,435.00 $84,587.18 $3,041,400.00

10,290.79 9,545.00 (745.79) 97,738.07 109,766.00 12,027.93 124,082.000.00 0.00 0.00 0.00 0.00 0.00 0.00

9,893.39 6,660.00 (3,233.39) 111,670.42 76,591.00 (35,079.42) 86,582.00

0.00 0.00 0.00 0.00 0.00 0.00 0.001,611.20 3,500.00 1,888.80 36,867.30 35,000.00 (1,867.30) 42,000.00

1,684.93 1,576.00 (108.93) 19,643.82 17,705.00 (1,938.82) 20,210.00

1,463.00 1,442.00 (21.00) 16,321.00 15,862.00 (459.00) 17,304.000.00 0.00 0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 21,303.72 0.00 (21,303.72) 0.00

2,132.14 1,576.00 (556.14) 23,552.58 17,705.00 (5,847.58) 20,210.00

27,075.45 24,299.00 (2,776.45) 327,096.91 272,629.00 (54,467.91) 310,388.00

plies 626.37 600.00 (26.37) 9,677.08 6,600.00 (3,077.08) 7,200.00767.25 1,080.00 312.75 10,119.12 11,880.00 1,760.88 12,960.00

s 112.55 100.00 (12.55) 1,000.88 1,100.00 99.12 1,200.00358.45 200.00 (158.45) 2,027.22 2,200.00 172.78 2,400.00

0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00

ions 0.00 0.00 0.00 534.75 1,645.00 1,110.25 1,645.000.00 0.00 0.00 0.00 0.00 0.00 0.00

213.08 100.00 (113.08) 1,131.90 2,100.00 968.10 2,200.000.00 0.00 0.00 0.00 0.00 0.00 0.00

154.86 200.00 45.14 301.00 2,200.00 1,899.00 2,400.000.00 0.00 0.00 0.00 0.00 0.00 0.00

796.50 750.00 (46.50) 5,066.90 8,250.00 3,183.10 9,000.00498.65 0.00 (498.65) 3,805.33 0.00 (3,805.33) 0.00

0.00 0.00 0.00 0.00 0.00 0.00 0.003,527.71 3,030.00 (497.71) 33,664.18 35,975.00 2,310.82 39,005.00

s 2,348.09 3,452.00 1,103.91 49,341.20 38,957.00 (10,384.20) 42,409.00

557.58 475.00 (82.58) 6,956.06 8,800.00 1,843.94 10,300.00488.48 1,033.00 544.52 16,179.83 11,363.00 (4,816.83) 12,396.00

0.00 900.00 900.00 17,000.00 9,900.00 (7,100.00) 10,800.00

se 3,394.15 5,860.00 2,465.85 89,477.09 69,020.00 (20,457.09) 75,905.00

1,012.38 2,500.00 1,487.62 4,723.52 30,700.00 25,976.48 33,200.00

3,310.00 2,500.00 (810.00) 25,445.00 30,000.00 4,555.00 32,500.00

irs 1,560.00 1,200.00 (360.00) 18,482.13 14,700.00 (3,782.13) 15,900.00

0.00 200.00 200.00 1,615.23 2,200.00 584.77 2,400.0011.85 500.00 488.15 11.85 5,500.00 5,488.15 6,000.00

227.13 100.00 (127.13) 660.59 1,100.00 439.41 1,200.00ing 0.00 100.00 100.00 941.46 1,100.00 158.54 1,200.00

0.00 100.00 100.00 218.86 1,100.00 881.14 1,200.00164.19 300.00 135.81 917.07 3,300.00 2,382.93 3,600.00

se 6,285.55 7,500.00 1,214.45 53,015.71 89,700.00 36,684.29 97,200.00

Supplies 1,335.83 750.00 (585.83) 7,664.89 8,450.00 785.11 9,200.00

218.31 150.00 (68.31) 1,102.25 1,650.00 547.75 1,800.00rs 141.01 75.00 (66.01) 5,017.13 4,125.00 (892.13) 4,200.00

338.04 150.00 (188.04) 1,493.93 1,650.00 156.07 1,800.000.00 100.00 100.00 0.00 1,100.00 1,100.00 1,200.00

130.85 400.00 269.15 4,486.33 5,400.00 913.67 5,800.000.00 0.00 0.00 0.00 0.00 0.00 0.00

293.93 50.00 (243.93) 1,712.44 550.00 (1,162.44) 600.00

rs 645.56 75.00 (570.56) 2,184.76 825.00 (1,359.76) 900.00

0.00 150.00 150.00 548.35 1,650.00 1,101.65 1,800.000.00 100.00 100.00 90.11 1,100.00 1,009.89 1,200.00

99.99 0.00 (99.99) 944.62 2,100.00 1,155.38 2,100.00irs 0.00 0.00 0.00 0.00 0.00 0.00 0.00

1,475.00 295.00 (1,180.00) 11,964.21 11,245.00 (719.21) 11,540.00

0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00nse 4,678.52 2,295.00 (2,383.52) 37,209.02 39,845.00 2,635.98 42,140.00

We are over inmaintenance payroll dueto additional porterposition that was notbudgeted, this is offsetin make readyexpenses.

Fewer move ins and

renewals thananticipated.

Reflective of total payrollcosts.

Reflects cable andfurniture rental for theguest suite.

Cancelled For Rentadvertising.

Two placement feespaid.

No resident referral forthe month.

Majority of the paints areperformed by in housestaff.

Reflects contractcleaning of 16 units pluscommon areas.

Cleaned 16 carpets.

Some repairs required.

Includes quarterlyfitness center repairs,replaced bateeries insmoke alarms, replacedthe vacuum at the carcare center, also re-stocked the "doggiepots."

Replaced patio glass inone unit.

Purchased washer/dryerparts. Parts failure morethan anticipated.

Performed annual Firealarm testing.


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Fees 9,150.00 0.00 (9,150.00) 10,726.30 0.00 (10,726.30) 0.00

0.00 0.00 0.00 655.29 0.00 (655.29) 0.000.00 0.00 0.00 86.91 0.00 (86.91) 0.00

r 0.00 0.00 0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00

up Costs 0.00 0.00 0.00 0.00 0.00 0.00 0.00

se 9,150.00 0.00 (9,150.00) 12,979.00 0.00 (12,979.00) 0.00

0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 3,000.00 3,000.00 3,000.000.00 0.00 0.00 0.00 0.00 0.00 0.00

ment 2,721.64 3,300.00 578.36 Replaced two carpets. 52,417.49 60,500.00 8,082.51 63,800.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 236.72 0.00 (236.72) 0.000.00 0.00 0.00 4,658.23 0.00 (4,658.23) 0.00

ents 1,084.00 0.00 (1,084.00) 1,084.00 0.00 (1,084.00) 0.00

0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00

3,805.64 3,300.00 (505.64) 58,396.44 63,500.00 5,103.56 66,800.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00

(49,076.36) (51,473.00) 2,396.64 (603,960.40) (657,398.00) 53,437.60 (720,611.00)

45,351.21 0.00 45,351.21 414,043.73 124,335.14 289,708.59 124,335.14(3,725.15) (51,473.00) 47,747.85 (189,916.67) (533,062.86) 343,146.19 (596,275.86)

9000- Partnership feeCPA firm Fee.

First payment of

resurfacing of the hottub.


8/52


9/52


10/52

TS SIZE TOTAL MKT RENT MKT RENT MONTHLY ANNUAL CONCESSION Vacants Notice

S/F PER UNIT PER S/F GROSS GROSS RENTS* PER UNIT GROSS

40 704 28,160 830 1.18 $33,200 $398,400 690.00 140.00 0.98 $27,600 9 1 8 3 0

32 704 22,528 860 1.22 $27,520 $330,240 690.00 55.00 1.10 $31,000 2 0 1 0 2

18 910 16,380 935 1.03 $16,830 $201,960 690.00 245.00 0.76 $12,420 1 0 1 1 5

24 808 19,392 895 1.11 $21,480 $257,760 830.00 65.00 1.03 $19,920 9 0 4 1 12

32 808 25,856 925 1.14 $29,600 $355,200 830.00 95.00 1.03 $26,560 0 0 0 0 0

42 977 41,034 1130 1.16 $47,460 $569,520 830.00 300.00 0.85 $34,860 11 1 5 0 13

44 1,030 45,320 1150 1.12 $50,600 $607,200 830.00 320.00 0.81 $36,520 4 0 2 1 7

22 1,030 22,660 1180 1.15 $25,960 $311,520 830.00 350.00 0.81 $18,260 0 0 0 0 0

24 977 23,448 1150 1.18 $27,600 $331,200 830.00 320.00 0.85 $19,920 0 0 0 0 0

16 1,030 16,480 1150 1.12 $18,400 $220,800 830.00 320.00 0.81 $13,280 0 0 0 0 5

20 1,030 20,600 1180 1.15 $23,600 $283,200 830.00 350.00 0.81 $16,600 0 0 0 0 0

24 1,140 27,360 1245 1.09 $29,880 $358,560 1,145.00 100.00 1.00 $27,480 3 1 1 1 3

4 1,140 4,560 1255 1.10 $5,020 $60,240 1,145.00 110.00 1.00 $4,580 0 0 0 0 0

342 917 313,778 $1,044 $1.14 $357,150 $4,285,800 $845 $213 0.92 $289,000 39 3 22 7 47

* Net of Concessions

EFFECTIVECONCESSION

EFFECTIVEPER S/F

EFFECTIVEMONTHLY

VacantsLeased

NoticeLeased

NetAvailable


11/52

MARKET SURVEYCourtney Downs

November-06

oyote Ranch Windsor @ Meridian Pinnacle @ the Creek Dove Valley Cherrywood Village Reserve @ South Creek

E Freemont Ave 9875 Jefferson Pkwy 6107 S Parker Rd 7550 S Blackhawk 16950 E Carlson Dr 15611 E Jamison Dr

03-693-8787 303-256-7700 303-766-2500 303-362-2000 303-805-7220 303-680-6696

Aurora, Co Englewood, Co 80112 Centennial, Co Englewood, Co 80112 Parker, Co 80134 Englewood, Co 80112

507 653 216 312 380 168

4 7 4 5 4 5

$35.00 $40.00 $35.00 $35.00 $35.00 $40.00yes yes yes yes yes yes

yes yes yes yes yes yes

350-600 150-300 $300 300-500 350-500 300

275-325 300 100 199 275-325 125-250

yes Only In Select Units Only Select Units no no no




no no no yes yes yes

1 1 1 1 2 1


1 1 1 1 2 1



yes yes yes yes yes yesyes yes yes yes yes yes


no yes yes yes yes yes

yes yes no yes yes yes

no yes yes yes no yes

no no no no no no

no no no no no no



no no no no no no

no yes yes yes yes yes


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MARKET SURVEY Courtney Downs

November-06

(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

fficiency fficiencyB1B (A) 640 704 0.91 690 779 0.89 615 627 0.98 624 685 0.91 700 768 0.91 645 707 0.91 689 763 0.90B1B (B) 660 808 0.82 780 853 0.91 615 701 0.88 700 705 0.99 750 842 0.89

B1B w/study 690 910 0.76 615 811 0.91 784 760 0.96B B

B w/loft B1B w/study 875 956 0.92 784 1051 0.75B2B (E) 800 977 0.82 855 1105 0.77 1110 1044 1.06 1014 1120 0.91 810 1115 0.73 828 1033 0.80 820 1037 0.79

B2B (F) 830 1030 0.81 910 1192 0.76 1440 1196 1.20 880 1220 0.72 832 1093 0.76B2B (G) 860 1030 0.83 1030 1180 0.87

B2B (H)B2B

B w/study B2B TH B2B TH

B2B 1,100 1140 0.96 1215 1398 0.87 1510 1330 1.14 1064 1230 0.87 1050 1356 0.77 1151 1235 0.93 1099 1257 0.87B2B

% occ /leased 91 93.27 95% 96.8 99 98% 0 0% 93 91 94% 95.8 96 93% 93.0 94 94% 98.0 99 96%

Avg PSF 1 0.84 0.84 0.99 0.90 0.80 0.85 0.86Avg Rents 797 1114 994 808 838 1131 995

/ Avail) 342 42 507 11 653 216 19 312 28 360 36 0 168 11

ates Sepcial:Noneeflect these rates: $685 1/1 $805 2/2 $1310 3/2 $626 1/1 $800 2/2 $1275 3/2

pecials: special was pulled off the internetdue to property will not give info.

Ren: $50 increase Ren:Per corporate

nits(Tot

Special: 1x1 620.00, 2x2800.00, as well as pricematching a few comps in thearea.

Special: Reduced pricingfor all floor plans.

Special:waive securitydeposit and $150.00 giftcard to any location.

Special: Discounted rentson select units as well asfirst months rent free..

Special: Waive securitydeposit and $250 to $500off first months rent.

Special: Discounts on allavailable rents.

Ren.: Keep all residents4% under all newresidents.

Ren: Info not avail percorporate

Ren: $40 increas for 12month lease

Ren: Average $15 to $20increase.

Ren: Free carpet cleaningwith 12mo.


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Courtney Downs November 2006

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