Our

Cumberland
In 2006, we purchased 3+/- acres in the Cumberland sub-market of Northwest Atlanta with a total capitalization of approximately $9 million. First mortgage financing was provided by Morgan Stanley. Our strategy is to re-develop the site in 2010 after the existing leases expire. In addition to significant cash on cash returns during the "seasoning" stage, we expect substantial upside through land appreciation in addition to potential development profits.

Midtown
In 2006, we purchased a 10-story, 116,000 square foot class B office building on Peachtree in the Midtown Atlanta sub-market with a total capitalization of approximately $15 million. First mortgage financing was provided by Wachovia Bank. Our strategy is to re-develop the asset and take advantage of the urbanization of the Midtown market. We expect to generate substantial upside appreciation and a steady cash flow stream once the re-development and re-leasing effort is completed.

Buckhead
We are currently under contract to purchase 5+/- acres on Peachtree in Buckhead with Sandcastle Resorts, our development partner. Development plans include a 360 room Hilton Hotel and 50 condominium units along with a 450 unit residential tower.

Buckhead
We are currently under contract to purchase a 9+/- acres in Buckhead with Health America Realty Groups and Parker Properties, our development partners. Development plans include 600,000 square feet of office, a boutique hotel and over 600 residential units.

Decatur
In October 2007, we purchased Decatur Court , a 10 story 130,000 square foot Class B office building on West Ponce de Leon Avenue in Downtown Decatur. Total capitalization will approximate $20 million and first mortgage financing was provided by the New York office of Capmark Finance. Our strategy is to re-develop the site into a true mixed-use project. Using the existing office as the center piece, we plan to add residential, retail  shops and a hotel. The office is generating steady cash flow and with the addition of the mixed use components, we expect to generate substantial upside.