USA Courtney Downs March 2007

8/14/2019 USA Courtney Downs March 2007

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USA Courtney Downs LeaseCo, LLCBalance Sheet

Books = AccrualMar 2007

SETS

47,145.700.00

ts 53,148.71$100,294.41

vable (116,461.78)es 35,362.01

329,314.67eserves 61,505.43

Escrow 200,000.00sets 509,720.33

610,014.74

S & CAPITAL

le - Trade (63,850.73) Payable 684,791.94

422,861.434,920.26

ts 53,148.71(17,357.24)

1,084,514.37

100.00gs (474,599.63)

(474,499.63)

ES & CAPITAL 610,014.74


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USA Courtney Downs LeaseCo, LLC

Cash Flow (Actual + Budget)Books = Accrual

For the 12 Months Ending Dec 2007

Jan 2007 Feb 2007 Mar 2007 Apr 2007 May 2007 Jun 2007 Jul 2007 Aug 2007 Sep 2007 Oct 2007 Nov 2007 Dec 2007 12 Month $ / $ / Dec 2006 12 Month $ / $ /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

352,560 345,950 343,190 352,280 351,675 351,070 350,465 349,860 349,255 348,650 348,045 347,440 4,190,440 12,252.75 13.35 364,160 5,262,351 15,386.99 16.77(34,193) (31,453) (33,657) (42,000) (37,000) (40,000) (42,000) (42,000) (42,000) (42,000) (42,000) (42,000) (470,303) (1,375.16) (1.50) (43,000) (598,680) (1,750.53) (1.91)(77,240) (77,177) (74,811) (66,797) (63,849) (59,743) (58,387) (54,989) (49,108) (46,826) (42,919) (39,555) (711,403) (2,080.12) (2.27) (80,000) (875,960) (2,561.29) (2.79)(5,251) (7,154) (5,738) (5,200) (5,211) (5,231) (5,235) (5,242) (5,252) (5,250) (5,253) (5,257) (65,274) (190.86) (0.21) (6,085) (82,060) (239.94) (0.26)

235,876 230,165 228,984 238,282 245,615 246,096 244,843 247,629 252,895 254,573 257,873 260,628 2,943,460 8,606.61 9.38 235,075 3,705,652 10,835.24 11.81

27,580 21,616 22,944 20,000 25,565 24,415 24,915 21,695 20,545 20,545 20,545 20,195 270,560 791.11 0.86 19,000 331,092 968.11 1.06

263,457 251,781 251,928 258,282 271,180 270,511 269,758 269,324 273,440 275,118 278,418 280,823 3,214,020 9,397.72 10.24 254,075 4,036,744 11,803.35 12.86

33,611 20,391 30,933 26,715 26,715 30,089 28,026 27,426 30,872 26,976 27,014 30,347 339,116 991.57 1.08 37,759 435,228 1,272.60 1.392,710 2,821 2,230 3,905 4,025 3,905 3,965 3,845 3,725 3,725 3,725 3,665 42,246 123.53 0.13 3,030 52,790 154.36 0.176,159 5,921 9,117 8,791 9,990 8,791 9,390 8,192 7,393 6,993 6,993 6,394 94,126 275.22 0.30 6,885 114,674 335.30 0.373,805 2,722 4,216 4,875 4,095 4,095 4,875 4,095 3,803 3,705 3,803 2,828 46,915 137.18 0.15 7,500 61,183 178.90 0.192,027 1,541 2,485 3,425 2,425 2,425 2,425 2,425 2,425 15,095 2,425 2,425 41,548 121.48 0.13 2,295 48,814 142.73 0.166,403 10,329 1,917 3,585 5,585 3,085 3,085 3,085 5,585 5,585 6,385 1,835 56,465 165.10 0.18 2,395 67,246 196.63 0.21

15,368 15,798 15,451 16,572 16,789 17,048 19,640 17,122 17,235 17,209 17,247 17,301 202,780 592.92 0.65 14,969 252,890 739.45 0.819,370 15,941 12,794 8,563 8,463 12,763 13,713 13,713 12,776 8,388 8,001 8,051 132,538 387.54 0.42 10,900 159,878 467.48 0.51

37,910 33,542 33,143 32,739 32,739 32,739 32,739 32,739 32,739 32,739 32,739 32,739 399,249 1,167.40 1.27 0 400,418 1,170.81 1.2837,237 37,237 108.88 0.12

117,362 109,007 112,285 109,171 110,826 114,941 117,860 112,644 116,553 120,416 108,332 105,585 1,354,983 3,961.94 4.32146,094 142,774 139,643 149,111 160,354 155,570 151,898 156,680 156,887 154,702 170,086 175,237 1,859,037 5,435.78 5.92 122,970 1,630,358 4,767.13 5.20

131,106 2,406,386 7,036.22 7.67193,253 193,253 193,253 193,253 193,253 193,253 193,253 193,253 193,253 193,253 193,253 193,253 3,735 10.92 0.01

0 0 0 415 415 415 415 415 415 415 415 415 79,551 232.61 0.25 193,254 273,868 800.78 0.871,601 4,113 10,791 4,900 7,446 21,300 4,900 4,900 4,900 4,900 4,900 4,900 0 0.00 0.00 0 9,800 28.65 0.03

3,300 3,300 9.65 0.01(48,760) (54,592) (64,402) (49,457) (40,761) (59,398) (46,670) (41,888) (41,681) (43,867) (28,483) (23,331) 1,775,751 5,192.25 5.66

(65,449) 2,119,418 6,197.13 6.757,543 (3,489) 0 0 0 0 0 0 0 0 0 0 0

250,000 250,000

s 0 0 4,562 0 0 0 0 0 0 0 0 0 126,251(4,571) (717) 131,540 0 0 0 0 0 0 0 0 0 2,166 0 2,166(7,749) 3,588 6,328 0 0 0 0 0 0 0 0 0 (163,654) 0 (163,654)

(30,394) (34,568) (34,568) (7,125) (7,125) (7,125) (7,125) (7,125) (7,125) (7,125) (7,125) (7,125) 0 0 (14,250)(2,951) (2,951)

sets (42,714) (31,697) 107,861 (7,125) (7,125) (7,125) (7,125) (7,125) (7,125) (7,125) (7,125) (7,125) (35,237) (2,951) (178,689)36,334 64,458 (135,154) 0 0 0 0 0 0 0 0 0 178,13741,830 25,859 110,449 0 0 0 0 0 0 0 0 0 (4,562) 0 (4,562)(1,829) (1,300) (1,433) 0 0 0 0 0 0 0 0 0 (17,029) 0 (17,029)

0 (11,458) (5,571) 0 0 0 0 0 0 0 0 0 0 0 00 0

iab. 76,334 77,559 (31,709) 0 0 0 0 0 0 0 0 0 156,5460 (21,591)

(7,597) (12,219) 11,751 (56,582) (47,886) (66,523) (53,795) (49,013) (48,806) (50,992) (35,608) (30,456) 1,897,060

47,614 35,395 47,146 (9,436) (57,322) (123,845) (177,640) (226,654) (275,460) (326,452) (362,059) (392,515) 181,601 2,169,138181,601

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

trai 280 286,056

vlg 120 108,276

wa 284 254,103we 12 48,309

wi 346 433,196

usa 280 299,111

usa 284 254,103

Feb 2007 Mar 2007 Apr 2007 May 2007 Jun 2007 Jul 2007 Aug 2007 Sep 2007 Oct 2007 Nov 2007 Dec 2007

Row 59 Row 60


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es by 50%

+ reduction in tax escrow due to overage


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USA Courtney Downs LeaseCo, LLCBudget Comparison

Books = AccrualFor the period ending March 31, 2007

MTD MTD YTD YTD Annual

Actual Budget $ Variance TD Variance Comment Actual Budget $ Variance Budget

294,410.00 352,885.00 (58,475.00) 904,960.00 1,060,470.00 (155,510.00) 4,209,210.00

48,780.00 0.00 48,780.00 136,740.00 0.00 136,740.00 0.00

343,190.00 352,885.00 (9,695.00) 1,041,700.00 1,060,470.00 (18,770.00) 4,209,210.00s 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 0.00(33,656.91) (28,705.15) (4,951.76) (99,303.21) (82,475.04) (16,828.17) (325,479.64)

(5,199.86) (6,090.00) 890.14 (10,232.64) (13,050.00) 2,817.36 (59,160.00)

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

(997.25) (628.61) (368.64) (3,380.82) (1,885.85) (1,494.97) (7,841.82)(1,980.00) (1,625.00) (355.00) (5,940.00) (4,875.00) (1,065.00) (19,500.00)

0.00 0.00 0.00 0.00 0.00 0.00 0.00(1,780.80) (2,050.00) 269.20 (5,342.40) (6,150.00) 807.60 (24,600.00)

nce Fe 0.00 0.00 0.00 0.00 0.00 0.00 0.00(979.86) (900.00) (79.86) (3,480.00) (2,700.00) (780.00) (10,800.00)(69,610.94) (62,071.00) (7,539.94) (218,995.11) (196,878.00) (22,117.11) (632,942.99)

ncome 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

$228,984.38 $250,815.24 $(21,830.86) $695,025.82 $752,456.11 $(57,430.29) $3,128,885.55

0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 68.00 (68.00) 0.00 204.00 (204.00) 816.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00930.00 1,650.00 (720.00) 3,270.00 4,950.00 (1,680.00) 19,800.00

771.29 200.00 571.29 2,256.29 600.00 1,656.29 2,400.00

881.20 960.00 (78.80) 2,336.04 2,880.00 (543.96) 11,520.00s 0.00 0.00 0.00 0.00 0.00 0.00 0.00

1,850.00 850.00 1,000.00 3,790.00 1,900.00 1,890.00 10,250.00

es 237.24 1,000.00 (762.76) 3,439.74 3,000.00 439.74 12,000.00

1,265.70 1,160.00 105.70 2,235.20 3,480.00 (1,244.80) 13,920.00

0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 3,488.53 0.00 3,488.53 0.003,005.30 2,456.00 549.30 8,903.39 7,368.00 1,535.39 29,472.00

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

0.00 0.00 0.00 0.00 0.00 0.00 0.006,682.55 6,650.00 32.55 20,030.14 19,950.00 80.14 79,800.00

0.00 0.00 0.00 0.00 0.00 0.00 0.001,151.00 1,006.00 145.00 3,453.00 3,018.00 435.00 12,072.00

per 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 90.00 (90.00) 900.00 270.00 630.00 1,080.000.00 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 0.00 0.00 0.00 0.00

3,750.00 2,800.00 950.00 8,100.00 5,800.00 2,300.00 33,800.00

2,419.57 3,330.00 (910.43) 9,734.46 9,990.00 (255.54) 48,840.00

Variance due to nolonger offering anyconcessions, marketrents changed to reflectlower rents.

Variance due to thechanging budget toreflect lower marketrents. This will continueto reduce over time aslast years concessionsburn off.

Variance due to closingout at 90.6% versusbudgeted for 91.3%.

Decreased theconcessions amountsgiven away up front forthe month.

Increased rents onthese unit types.

Concessions are nolonger being offered.This will reduce overtime.

More residents paid on

time resulting in fewerlate fees charged andcollected.

17 application feesbudgeted for and 37were collected.

Residents not paying atthe time of move-out,however, they havebeen turned over to thecollection agency.

Two more pets moved inthan budgeted for.

19 admin fees werebudgeted for and 25were collected.

Variance due toapartments being left inbetter condition resultingin fewer fees charged.


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0.00 450.00 (450.00) 203.57 1,050.00 (846.43) 3,600.00

0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 425.00 (425.00) 0.00 1,275.00 (1,275.00) 5,100.000.00 (1,750.00) 1,750.00 0.00 (5,250.00) 5,250.00 (21,000.00)

0.00 0.00 0.00 0.00 0.00 0.00 0.00ns 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

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

22,943.85 21,345.00 1,598.85 72,140.36 60,485.00 11,655.36 263,470.00

$251,928.23 $272,160.24 $(20,232.01) $767,166.18 $812,941.11 $(45,774.93) $3,392,355.55

12,835.51 12,013.16 (822.35) 33,678.10 36,039.48 2,361.38 147,761.88

0.00 0.00 0.00 0.00 0.00 0.00 0.0014,429.73 11,223.48 (3,206.25) 41,330.89 33,670.44 (7,660.45) 138,048.78

0.00 0.00 0.00 0.00 0.00 0.00 0.00

1,768.20 5,774.09 4,005.89 5,129.08 7,949.09 2,820.01 39,026.28

0.00 0.00 0.00 0.00 0.00 0.00 0.001,900.00 778.00 (1,122.00) 4,797.50 2,334.00 (2,463.50) 9,336.00

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 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00

30,933.44 29,788.73 (1,144.71) 84,935.57 79,993.01 (4,942.56) 334,172.94

es 219.86 1,000.00 780.14 1,364.80 3,000.00 1,635.20 12,000.00

685.89 1,100.00 414.11 2,158.10 3,300.00 1,141.90 13,200.0069.00 100.00 31.00 310.06 300.00 (10.06) 1,200.0043.25 170.00 126.75 657.55 510.00 (147.55) 2,040.000.00 0.00 0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00s 0.00 90.00 90.00 0.00 270.00 270.00 1,080.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00

457.57 115.00 (342.57) 974.52 345.00 (629.52) 1,380.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00125.49 25.00 (100.49) 137.12 75.00 (62.12) 300.00

0.00 25.00 25.00 0.00 75.00 75.00 300.000.00 510.00 510.00 553.00 1,140.00 587.00 6,150.00

628.79 650.00 21.21 1,606.09 1,950.00 343.91 7,800.000.00 0.00 0.00 0.00 0.00 0.00 0.00

2,229.85 3,785.00 1,555.15 7,761.24 10,965.00 3,203.76 45,450.00

5,925.02 3,000.00 (2,925.02) 12,312.09 13,100.00 787.91 36,900.00

836.09 798.00 (38.09) 1,456.43 2,394.00 937.57 9,576.00

1,855.75 2,024.68 168.93 4,828.39 4,193.98 (634.41) 24,440.78500.00 2,170.00 1,670.00 2,600.00 4,495.00 1,895.00 26,195.00

9,116.86 7,992.68 (1,124.18) 21,196.91 24,182.98 2,986.07 97,111.78

221.19 720.00 498.81 260.44 1,530.00 1,269.56 7,852.50

Property maintains a twobedroom quest suite.

Variance due to payrollaccrual for the monthsof January andFebruary.

Variance due to payrollaccrual for the monthsof January andFebruary.

Variance due to accrualreversal for the monthsof January andFebruary.

Includes accrual of two

pay periods.

Savings due topurchasing fewer officesupplies this month.

Includes two apatassociation functions.

No invoice received priorto ACME.

Variance due to rollingadvertising at KingSupers and ordering of

marketing materials aswell as brochures. YTDis within budget.

Five referrals budgetedand we received one.


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2,400.00 250.00 (2,150.00) 6,485.00 750.00 (5,735.00) 3,000.00

1,220.00 2,400.00 1,180.00 3,235.00 5,100.00 1,865.00 26,175.00

248.68 100.00 (148.68) 364.33 300.00 (64.33) 1,200.00

0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 50.00 50.00 196.77 150.00 (46.77) 600.000.00 416.67 416.67 75.00 1,250.01 1,175.01 5,000.04

0.00 25.00 25.00 0.00 75.00 75.00 300.00126.20 133.33 7.13 126.20 399.99 273.79 1,599.96

4,216.07 4,095.00 (121.07) 10,742.74 9,555.00 (1,187.74) 45,727.50

pplies 738.00 700.00 (38.00) 1,281.06 2,100.00 818.94 8,400.00190.00 100.00 (90.00) 1,039.72 300.00 (739.72) 1,200.00

2.25 140.00 137.75 292.99 420.00 127.01 5,055.000.00 150.00 150.00 0.00 450.00 450.00 1,800.000.00 0.00 0.00 270.00 0.00 (270.00) 0.00

234.49 450.00 215.51 234.49 1,350.00 1,115.51 5,400.000.00 0.00 0.00 0.00 0.00 0.00 0.00

500.48 160.00 (340.48) 500.48 480.00 (20.48) 1,920.00

261.71 450.00 188.29 480.51 1,800.00 1,319.49 5,850.0064.38 75.00 10.62 76.31 225.00 148.69 900.000.00 25.00 25.00 355.34 75.00 (280.34) 300.000.00 0.00 0.00 45.40 0.00 (45.40) 2,000.000.00 0.00 0.00 0.00 0.00 0.00 0.00

493.56 175.00 (318.56) 1,476.52 525.00 (951.52) 10,395.00

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

2,484.87 2,425.00 (59.87) 6,052.82 7,725.00 1,672.18 43,220.00

0.00 0.00 0.00 0.00 0.00 0.00 30,000.00638.20 510.00 (128.20) 2,265.32 1,530.00 (735.32) 6,120.00

75.00 75.24 0.24 225.00 225.72 0.72 902.880.00 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 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00

1,203.44 800.00 (403.44) 16,157.92 3,300.00 (12,857.92) 5,850.00

1,916.64 1,385.24 (531.40) 18,648.24 5,055.72 (13,592.52) 42,872.88

0.00 0.00 0.00 0.00 0.00 0.00 0.00

ewer 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

s 0.00 0.00 0.00 0.00 0.00 0.00 0.00emov 0.00 0.00 0.00 0.00 0.00 0.00 0.00g Svcs 0.00 0.00 0.00 0.00 0.00 0.00 0.00ance 0.00 0.00 0.00 0.00 0.00 0.00 0.00ce 0.00 0.00 0.00 0.00 0.00 0.00 0.00es 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 0.00

10,527.08 10,886.41 359.33 31,521.29 32,517.64 996.35 135,694.22

1,000.00 1,000.00 0.00 3,000.00 3,000.00 0.00 12,000.00

e 3,250.00 3,300.00 50.00 9,750.00 9,900.00 150.00 39,600.00673.90 1,300.00 626.10 2,221.70 3,900.00 1,678.30 15,600.00

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 9.58 9.58 0.00 28.74 28.74 114.960.00 0.00 0.00 0.00 0.00 0.00 0.00

ses 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 0.00 123.71 0.00 (123.71) 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 2,624.00 2,624.00 5,124.00

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

15,450.98 16,495.99 1,045.01 46,616.70 51,970.38 5,353.68 208,133.18

1,424.84 3,340.00 1,915.16 7,208.63 10,020.00 2,811.37 40,080.00

Variance due to budgeterror.

Budgeted for 12 cleansand completed eight forthe month.

No repairs needed thismonth.

Replaced glass in twounits.

Repaired a ground faultwire in bldg 17.

More removal thananticipated. We plow attwo inches. Purchased a

jck jammer for ice andice melt.

Based on 4% ofcollections.

Seven eviction feesbudgeted for and fourwere actually filled.

Includes a refund fromIREA in the amount of

$1944.00


7/60

0.00 0.00 0.00 0.00 0.00 0.00 0.00

1,709.12 2,565.00 855.88 8,357.57 7,695.00 (662.57) 30,780.00

19,316.93 8,965.00 (10,351.93) 46,807.81 26,895.00 (19,912.81) 107,580.00

Reimb (8,123.38) (6,275.50) 1,847.88 (22,053.47) (18,826.50) 3,226.97 (75,306.00)

0.00 0.00 0.00 0.00 0.00 0.00 23,500.00ement 0.00 0.00 0.00 0.00 0.00 0.00 0.00

(3,665.24) (2,011.00) 1,654.24 (8,368.92) (6,033.00) 2,335.92 (24,132.00)

ment 0.00 0.00 0.00 0.00 0.00 0 .00 0.001,141.59 827.94 (313.65) 2,852.49 2,378.82 (473.67) 9,387.78

990.03 551.96 (438.07) 3,301.28 1,585.88 (1,715.40) 6,258.52

as 0.00 0.00 0.00 0.00 0.00 0.00 0.00

12,793.89 7,963.40 (4,830.49) 38,105.39 23,715.20 (14,390.19) 118,148.30

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

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

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

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

27,364.79 27,616.50 251.71 87,820.61 82,849.50 (4,971.11) 331,398.00

0.00 0.00 0.00 0.00 0.00 0.00 0.005,777.74 5,073.00 (704.74) 16,774.16 15,219.00 (1,555.16) 60,876.00

0.00 49.88 49.88 0.00 149.64 149.64 598.56

0.00 0.00 0.00 0.00 0.00 0.00 0.0033,142.53 32,739.38 (403.15) 104,594.77 98,218.14 (6,376.63) 392,872.56

112,285.13 106,670.42 (5,614.71) 338,654.38 311,380.43 (27,273.95) 1,327,709.14

139,643.10 165,489.82 (25,846.72) 428,511.80 501,560.68 (73,048.88) 2,064,646.41

ent 106,586.67 106,586.67 0.00 319,760.01 319,760.01 0.00 1,279,040.04

ment 0.00 0.00 0.00 0.00 0.00 0.00 0.0086,666.71 86,666.67 (0.04) 260,000.13 260,000.01 (0.12) 1,040,000.04

0.00 0.00 0.00 0.00 0.00 0.00 0.00193,253.38 193,253.34 (0.04) 579,760.14 579,760.02 (0.12) 2,319,040.08

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

0.00 170.00 170.00 0.00 510.00 510.00 2,040.00

es 0.00 170.00 170.00 0.00 510.00 510.00 2,040.000.00 75.00 75.00 0.00 225.00 225.00 900.000.00 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 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00

Costs 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 415.00 415.00 0.00 1,245.00 1,245.00 4,980.00

0.00 0.00 0.00 0.00 0.00 0.00 18,946.000.00 0.00 0.00 0.00 3,250.00 3,250.00 3,250.000.00 0.00 0.00 0.00 0.00 0.00 0.00

nt 10,791.29 4,900.00 (5,891.29) 13,838.57 14,700.00 861.43 58,800.00

0.00 0.00 0.00 585.06 600.00 14.94 600.000.00 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

s 0.00 0.00 0.00 2,081.79 3,713.00 1,631.21 3,713.000.00 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

Includes an adjustmentfrom prior monthaccrual. Actual was$2200.

Arapahoe County had a75% increase inwater/sewer fees. Wehave notified the PUC ofthe large increase.Budget anticipated a 3%increase.

Variance due toaggressive in housecollections on waterbills.

Collecting $10.94 perdoor on the average.

Vacancy higher than

budgeted.Vacancy higher thanbudgeted.

Includes invoice fromEssex.

Based on actualexpense.

Replaced ten carpetsthis month due to age

and pet damage. YTDwithin budget.


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10,791.29 4,900.00 (5,891.29) 16,505.42 22,263.00 5,757.58 85,309.00


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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 0.00

(64,401.57) (33,078.52) (31,323.05) (167,753.76) (101,707.34) (66,046.42) (344,682.67)

0.00 0.00 0.00 4,054.35 0.00 4,054.35 0.00(64,401.57) (33,078.52) (31,323.05) (163,699.41) (101,707.34) (61,992.07) (344,682.67)


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1,703.57

0.001,700.00

###

0.000.000.000.000.000.00

0.000.000.000.00###

1.00###

1.001.00

###

0.00###

0.00

###

0.009,809.50

0.000.00

0.000.00###

1.005,584.66

7,243.99779.06

1,380.800.00

0.00360.00

0.00

1,892.09

0.00362.61100.00

2,203.00

4,834.880.00###

1.00###

5,484.52

###9,765.00

###1.00

2,731.63


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9,885.00

###

1,013.01

0.00396.771,741.68

100.00785.72

###1.00

4,819.061,629.72

855.24600.00270.00

2,268.980.00

1,640.96

2,992.22440.69455.3445.400.00

2,670.08

0.000.000.00###

1.000.00

4,943.52

600.960.000.00

0.000.00###

###1.000.00

0.000.00

0.000.000.000.000.000.000.000.00###

8,000.00

###8,095.60

0.00

0.0038.320.000.000.00

123.71

0.000.00

2,624.00

0.000.00###

1.00###


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0.00

###

###

###

0.000.00###

0.007,200.84

###

0.00

###1.000.000.000.000.00

0.000.000.000.000.00

0.000.000.000.00

0.000.00

0.00###

0.00###

199.52

0.00######

###1.00###

0.00###

0.00###

1.00

0.000.000.000.000.000.00

680.00

680.00300.00

0.000.000.000.000.000.00

1,660.001.00

0.003,250.00

0.00###

1,185.060.000.000.00

5,794.790.000.00


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1.00

0.000.000.00###

1.00

4,054.351.00


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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 28,160 725 1.03 $29,000 $348,000 0.00 725.00 0.00 $- 0 0 1 1 0

32 704 22,528 725 1.22 $27,520 $330,240 0.00 55.00 0.00 0 0 0 0 0

18 910 16,380 850 1.03 $15,300 $183,600 0.00 850.00 0.00 $- 1 2 1 0 0

24 808 19,392 750 1.11 $18,000 $216,000 0.00 750.00 0.00 $- 0 2 4 1 1

32 808 25,856 750 1.14 $24,000 $288,000 0.00 750.00 0.00 $- 0 0 0 0 0

42 977 41,034 875 1.16 $36,750 $441,000 0.00 875.00 0.00 $- 7 0 6 0 13

44 1,030 45,320 900 1.12 $39,600 $475,200 0.00 900.00 0.00 $- 2 0 10 0 12

22 1,030 22,660 900 1.15 $19,800 $237,600 0.00 900.00 0.00 $- 0 0 0 0 0

24 977 23,448 875 1.18 $21,000 $252,000 0.00 875.00 0.00 $- 0 0 0 0 0

16 1,030 16,480 925 0.90 $14,800 $177,600 0.00 925.00 0.00 $- 3 2 4 0 5

20 1,030 20,600 925 0.90 $18,500 $222,000 0.00 925.00 0.00 $- 0 0 0 0 0

24 1,140 27,360 1150 1.01 $27,600 $331,200 0.00 1,150.00 0.00 $- 3 2 2 1 3

4 1,140 4,560 1150 1.01 $4,600 $55,200 0.00 1,150.00 0.00 $- 0 0 0 0 0

342 917 313,778 $867 $0.94 $296,470 $3,557,640 $- $833 0.00 $- 16 8 28 3 34

* Net of Concessions

EFFECTIVECONCESSION

EFFECTIVEPER S/F

EFFECTIVEMONTHLY

VacantsLeased

NoticeLeased

NetAvailable


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MARKET SURVEYCourtney Downs

March-07

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 $30.00 $35.00 $40.00yes yes yes yes yes yes

yes yes yes yes yes yes

300-600 150-300 $100 300-500 400-500 300

275-325 300 100 99 100-200 100

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

March-07

(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) 725 704 1.03 710 779 0.91 680 627 1.08 654 685 0.95 720 768 0.94 675 707 0.95 741 763 0.97B1B (B) 850 808 1.05 745 853 0.87 740 701 1.06 679 705 0.96 730 842 0.87 708 796

B1B w/study 750 910 0.82 800 926 840 811 0.91 704 760 0.96 895 992 729 916B B

B w/loft B1B w/study 820 956 0.86 841 1051 0.80B2B (E) 875 977 0.90 825 1105 0.75 920 1044 0.88 929 1120 0.83 885 1115 0.79 925 1033 0.90 965 1037 0.93

B2B (F) 900 1030 0.87 915 1192 0.77 1060 1196 0.89 805 888 970 1220 0.80 975 1093 0.89B2B (G) 925 1030 0.90 1010 1329 1090 1180 0.92

B2B (H)B2B

B w/study B2B TH B2B TH

B2B 1,150 1140 1.01 1175 1398 0.84 1320 1330 0.99 1084 1230 0.88 1100 1356 0.81 1040 1235 0.84 1195 1257 0.95B2B

% occ /leased 92 92.10% 91% 93.2 96.3 98% 0 0% 94 98.00% 94% 94.0 92 93% 93.0 97 94% 97.0 96 96%

Avg PSF 1 0.94 0.83 0.95 0.90 0.84 0.90 0.95Avg Rents 882 1114 994 808 883 1131 995

/ Avail) 342 34 507 38 653 216 5 312 19 360 34 0 168 18

ates Sepcial:Noneeflect these rates1 Bd $725 1 BD $710 to $800 $680 1/1 $820 2/2 $1320 3/2 1 Bd $654 to $704 1 Bd $720 to $895 1 Bd $675 to $729

pecials: 2 Bd $875 2BD $825 to $1010 special was pulled off the inter 2 Bd $841 to $929 2 Bd $885 to $970 2 Bd $925 to $9753 Bd $1160 3BD $1175 due to property will not give inf3BD $1084 3 Bd $1100 3 Bd $1040

Ren: $25 to $50 increase. Ren:Per corporate

nits(Tot

Special: look and leasespecial $150 security deposit

waived and $350 off firstmonths rent.

Special: Reduced pricingfor all floor plans.

Special:waive security

deposit and $150.00 giftcard to any location.

Special: $400.00 off 1st

month rent look and leasespecial.

Special: Up to 3 monthsfree on a 12 month lease.

Special: Discounts on allavailable rents.

Ren.: Keep all residents4% under all newresidents.

Ren: Info not avail percorporate

Ren: $30 increas for 12month lease

Ren: Average $10 to $25increase.

Ren: Free carpet cleaningwith 12mo.


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Date post:	30-May-2018
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USA Courtney Downs March 2007

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