History and Acquisitions

Real Estate Profile:

Tower Place Apartments (Condo Conversion) - 68 Units
Purchased in 02/05 - Prior Lake, MN

Rosedale Towers-Office Building - 83,980 sq ft
Purchased in 12/02 - Roseville, MN

Hoyt Ave. Apartments - 24 Units
Purchased in 08/02; Sold in 06/04 - St. Paul, MN

Lexington Park Apartments - 64 Units
Purchased in 12/00 - St. Paul, MN

Woodland Court Apartments - 64 Units
Purchased in 11/00; Sold in 10/02 - St. Paul, MN

Phalen Village Apartments - 163 Units
Purchased in 09/00; Sold in 07/04 - St. Paul, MN

Buron Lane Apartments - 22 Units
Purchased in 08/99; Sold in 05/02 - South St. Paul, MN

Lawson Arms Apartments - 32 Units
Purchased in 06/99; Sold in 09/02 - St. Paul, MN

Yorkshire Grove Apartments - 90 Units
Purchased in 07/95 - St. Paul, MN

Development Profile:

Yorkshire Place Townhomes - 9 units - St. Paul, MN
Purchased sites in April and June 2005, Completion scheduled for June 2006
$3.3 million project of for-sale townhomes

Tower Place Condominiums - 68 units - Prior Lake, MN
Purchased in February 2005, Completion scheduled for June 2006
$8.5 million conversion project of apartments to for-sale condominiums

Montreal Terrace Townhomes - 6 units - St. Paul, MN
Purchased site January 2003, Completed construction September 2003
$2.1 million project of for-sale townhomes