MIDLAND REALTY ACCEPTANCE CORP
8-K, 1996-12-18
ASSET-BACKED SECURITIES
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            SECURITIES AND EXCHANGE COMMISSION

                  WASHINGTON, D.C. 20549

                  ----------------------

                         FORM 8-K

                      CURRENT REPORT

          PURSUANT TO SECTION 13 OR 15(d) OF THE
              SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): December 16,
1996

               Midland Realty Acceptance Corp.
     (Exact name of registrant as specified in its charter)


                            Missouri                               
        (State or other jurisdiction of incorporation)


             
       333-3885                                             43-1745475
(Commission File Number)                       (IRS Employer Identification No.)

210 West 10th Street, 6th Floor, Kansas City, Missouri                  64105  
 (Address of principal executive offices)                            (Zip Code)

Registrant's telephone number, including area code:  (816)435-5000


                                   Not applicable
        (Former name or former address, if changed since last report)


ITEM 7.  FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS

Exhibit 99  Underwriter's Statement Relating to Midland Realty Acceptance Corp.,
            Commercial  Mortgage  Pass-Through  Certificates,  Series  1996-C2,
            together with Preliminary Collateral Term Sheet.




<PAGE>

                        SIGNATURES

     Pursuant to the requirements of the Securities
Exchange Act of 1934, as amended, the Registrant has duly
caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.



                         MIDLAND REALTY ACCEPTANCE CORP., as
                         Registrant

Date: December 18, 1996  By: /s/ Clarence A. Krantz          
                         Clarence A. Krantz, Executive Vice President



<PAGE>

                       EXHIBIT INDEX

     Exhibit No.                    Description

         99                Underwriter's Statement
                           Relating to Midland Realty
                           Acceptance, Commercial Mortgage
                           Pass-Through Certificates,
                           Series 1996-C2, together with
                           Preliminary Collateral Term
                           Sheet.



<TABLE>
<CAPTION>

=========================================================================================================================
Public                                       Property                                                Property   Property
Loan Id.     Cutoff        Property Name      Number     Property      Street Address    Property      State    Zip Code
             Balance                                    Description                        City

<S>       <C>            <C>                 <C>       <C>              <C>               <C>          <C>        <C>  
- -------------------------------------------------------------------------------------------------------------------------
1         $27,292,185.76 Kennedy Place       1         Multifamily      10700 E.          Denver       CO         80014
                                                                        Dartmouth Avenue
- -------------------------------------------------------------------------------------------------------------------------
2         $17,686,287.89 Gateway Shopping    1         Retail-Anchored  Valley Forge &    Wayne        PA         19087
                         Center                                         East Swedes
                                                                        Ford Rd.
- -------------------------------------------------------------------------------------------------------------------------
3         $16,890,000.00 Gentry's Landing    1         Mixed Use        400-440 N. 4th    St. Louis    MO         63102
                                                                        Street
- -------------------------------------------------------------------------------------------------------------------------
4         $12,339,021.33 Kendall I Place     1         Office/Retail    8601 South        Kendall      FL         33143
                                                                        Dixie Highway
- -------------------------------------------------------------------------------------------------------------------------
5         $11,700,000.00 LAM Research        1         Office/R & D     4650 Cushing      Fremont      CA         94538
                                                                        Parkway
- -------------------------------------------------------------------------------------------------------------------------
6         $10,700,000.00 Bay Plaza K Mart    1         Retail-Single    300 Baychester    Bronx        NY         10476
                                                       Tenant           Avenue
- -------------------------------------------------------------------------------------------------------------------------
7         $10,299,238.58 Preferred Freezer   1         Industrial/      536 Fayette       Perth Amboy  NJ         08861
                                                       Warehouse        Street
- -------------------------------------------------------------------------------------------------------------------------
8         $10,200,000.00 Rio Norte           1         Retail-Anchored  5404-5514 San     Laredo       TX         78041
                         Shopping Center                                Bernardo
- -------------------------------------------------------------------------------------------------------------------------
9         $10,035,389.63 Val Mesa Medical    1         Office           100 East          Fullerton    CA         92635
                         Building                                       Valencia Mesa
                                                                        Dr.
- -------------------------------------------------------------------------------------------------------------------------
10        $9,800,000.00  Lakewood Cove       1         Multifamily      1100 N. Center    Henderson    NV         89015
                         Apartments                                     St.
- -------------------------------------------------------------------------------------------------------------------------
11        $9,004,859.25  Longhorn            1         Multifamily      36523 25th St.    Palmdale     CA         93550
                         Pavillion                                      East
                         Apartments
- -------------------------------------------------------------------------------------------------------------------------
12        $8,916,000.00  Cape Cod Factory    1         Factory          1 Factory         Bourne       MA         02561
                         Outlet Mall                   Outlet           Outlet Rd.
- -------------------------------------------------------------------------------------------------------------------------
13        $8,656,251.16  Super K Mart #7634  1         Retail-Single    1179 32nd Street  Port Huron   MI         48060
                                     Tenant
- -------------------------------------------------------------------------------------------------------------------------
14        $8,500,000.00  Garden Grove Plaza  1         Retail-Anchored  13802 - 13922     Garden       CA         92843
                                                                        BROOKHURST        Grove
- -------------------------------------------------------------------------------------------------------------------------
15        $8,395,000.00  North Creek         1         Multifamily      11401 3rd         Everett      WA         98208
                         Apartments                                     Avenue SE
- -------------------------------------------------------------------------------------------------------------------------
16        $7,850,184.13  Holiday Inn         1         Hotel            1850 S. Harbor    Anaheim      CA         92802
                         Maingate                                       Drive



<PAGE>




- -------------------------------------------------------------------------------------------------------------------------
17        $7,850,000.00  Hunter Park         1         Office           2001, 2041,       Riverside    CA         92507
                         Office Plaza                                   2081 Iowa Avenue
- -------------------------------------------------------------------------------------------------------------------------
18        $7,708,582.34  Westgate            1         Multifamily      8114 Gorman       Laurel       MD         20707
                         Apartments                                     Avenue
- -------------------------------------------------------------------------------------------------------------------------
19        $7,700,000.00  Malone Plaza        1         Retail-Anchored  230 W. Main St.   Malone       NY         14226
- -------------------------------------------------------------------------------------------------------------------------
20        $7,500,000.00  Builder's Square    1         Retail-Single    29659 W. Seven    Livonia      MI         48152
                         II                            Tenant           Mile Road
- -------------------------------------------------------------------------------------------------------------------------
21        $7,468,832.22  Hunter's Ridge      1         Multifamily      3733 Goldenrod    Winter Park  FL         32792
                         Apartments                                     Rd.
- -------------------------------------------------------------------------------------------------------------------------
22        $7,114,236.83  Blaustein Building  1         Office           Onenorth          Baltimore    MD         21201
                                                                        Charles Street
- -------------------------------------------------------------------------------------------------------------------------
23        $6,980,717.62  B J's Warehouse     1         Retail-Single    85 Cedar Street   Stoneham     MA         02108
                         Club                          Tenant
- -------------------------------------------------------------------------------------------------------------------------
24        $6,300,000.00  Woodhollow          1         Multifamily      5739 Kingsgate    Orlando      FL         32809
                         Apartments                                     Dr.
- -------------------------------------------------------------------------------------------------------------------------
25        $6,061,465.94  Big Curve           1         Retail-          4th Avenue and    Yuma         AZ         85364
                         Shopping Center               Unanchored       Catalina Drive
- -------------------------------------------------------------------------------------------------------------------------
26        $5,650,000.00  Windmill Terrace    1         Multifamily      2200 Murphy Rd.   Bedford      TX         76021
                         Apartments
- -------------------------------------------------------------------------------------------------------------------------
27        $5,625,000.00  Armand Place        1         Multifamily      2600 Skywalker    Houston      TX         77058
                         Apartments
- -------------------------------------------------------------------------------------------------------------------------
28        $5,525,851.47  Oakland Valley      1         Multifamily      2760 Patrick      Auburn       MI         48326
                         Apartments                                     Henry Drive       Hills
- -------------------------------------------------------------------------------------------------------------------------
29        $5,186,927.78  West Bernardo       1         Office           16275             Rancho       CA         92127
                         Corporate Plaza                                Technology Drive  Bernardo
- -------------------------------------------------------------------------------------------------------------------------
30        $5,097,083.95  Cobblestone         1         Multifamily      951 Turner Road   Grapevine    TX         76051
                         Village Apartments
- -------------------------------------------------------------------------------------------------------------------------
31        $5,045,636.19  Name'Office         1         Office           40 N.E. Loop      San Antonio  TX         78216
                         Building                                       #410
- -------------------------------------------------------------------------------------------------------------------------
32        $5,000,000.00  Goodwin Gardens     1         Multifamily      37 Fairway Dr.    Wethersfield CT         06109
                         Apartments
- -------------------------------------------------------------------------------------------------------------------------
33        $5,000,000.00  Lake George Plaza   1         Factory          Route 9           Queensbury   NY         12846
                         Outlet Center                 Outlet



<PAGE>




- -------------------------------------------------------------------------------------------------------------------------
34        $4,850,000.00  North Pointe        1         Office           5700 Harper       Albuquerque  NM         87109
                         Office Plaza                                   Drive NE
- -------------------------------------------------------------------------------------------------------------------------
35        $4,808,737.95  The Shoppes at      1         Retail-          11400 Huguenot    Midlothian   VA         23113
                         Bellgrade                     Unanchored       Road
- -------------------------------------------------------------------------------------------------------------------------
36        $4,638,013.78  Cypress Station     1         Retail-          FM 1960 & I-45    Houston      TX         77090
                         Shopping Center               Unanchored
- -------------------------------------------------------------------------------------------------------------------------
37        $4,636,806.77  Sundance            1         Multifamily      131 E. 31St.      Tulsa        OK         74105
                         Apartments                                     Place
- -------------------------------------------------------------------------------------------------------------------------
38        $4,617,925.32  Riggs Plaza         1         Retail-          2065-2101         Langley      MD         20783
                                                       Unanchored       University Blvd.  Park
- -------------------------------------------------------------------------------------------------------------------------
39        $4,547,928.53  Emmett Street &     1         Multifamily      Emmett St. &      Bristol      CT         06010
                         Redstone Hill Road                             Redstone Hill
                                                                        Rd.
- -------------------------------------------------------------------------------------------------------------------------
40        $4,544,199.28  Shadow Valley       1         Multifamily      5650 Grissom Rd.  Leon Valley  TX         78238
                         Apartments
- -------------------------------------------------------------------------------------------------------------------------
41        $4,512,123.62  Casa Devon          1         Multifamily      11250 SW 197th    Miami        FL         33157
                         Apartments                                     St.
- -------------------------------------------------------------------------------------------------------------------------
42        $4,475,000.00  Silvergate          1         Congregate       420 Elbrook       Fallbrook    CA         92028
                         Fallbrook                     Care             Drive
                         Retirement
                         Residence
- -------------------------------------------------------------------------------------------------------------------------
43        $4,396,286.02  Inter American      1         Industrial/      3750 NW 49th,     Hialeah      FL         33142
                         Transport                     Warehouse        3500-3690 NW 62
                         Equipment Co.                                  St.
- -------------------------------------------------------------------------------------------------------------------------
44        $4,154,647.02  Midway Mills        1         Retail-          2650 Midway Road  Carrollton   TX         75006
                         Shopping Center               Unanchored
- -------------------------------------------------------------------------------------------------------------------------
45        $4,097,464.66  Desert Shadows      1         Multifamily      550 Heimer Road   San Antonio  TX         78232
                         Apartments
- -------------------------------------------------------------------------------------------------------------------------
46        $3,681,789.29  Cabana Club         1         Multifamily      19701 & 19801     Miami        FL         33151
                         Apartments                                     SW 110th Court
- -------------------------------------------------------------------------------------------------------------------------
47        $3,437,950.09  Whispering Hills    1         Multifamily      13658 O'Connor    San Antonio  TX         78233
                         Apartments                                     Road
- -------------------------------------------------------------------------------------------------------------------------
48        $3,416,000.00  Denver Sports       1         Retail-Single    9219 N.           Westminster  CO         80030
                                                       Tenant           Sheridan Blvd.
- -------------------------------------------------------------------------------------------------------------------------
49        $3,397,081.60  Promenade           1         Retail-          Airline &         Corpus       TX         78412
                         Shopping Center               Unanchored       McArdle Road      Christie



<PAGE>




- -------------------------------------------------------------------------------------------------------------------------
50        $3,250,000.00  Dulles Square       1         Retail-          2207-22267 Shaw   Sterling     VA         20166
                         Shopping Center               Unanchored       Rd.
- -------------------------------------------------------------------------------------------------------------------------
51        $3,240,000.00  Somerset Place      1         Multifamily      2020 36th Street  Texas City   TX         77590
                         Apartments
- -------------------------------------------------------------------------------------------------------------------------
52        $3,200,000.00  95 Office Park      1         Office           1801 - 1901       Landover     MD         20785
                                                                        Brightseat Road
- -------------------------------------------------------------------------------------------------------------------------
53        $3,200,000.00  Frankford Center    1         Retail-          18110 Midway Rd.  Dallas       TX         75287
                                   Unanchored
- -------------------------------------------------------------------------------------------------------------------------
54        $3,200,000.00  ICN                 1         Industrial       13 Mountainview   Orangeburg   NY
                         Pharmaceuticals                                Ave.
- -------------------------------------------------------------------------------------------------------------------------
55        $3,172,106.13  Lindell Court       1         Multifamily      2808 S.           Spokane      WA         99204
                         Apartments                                     Assembly Rd.
- -------------------------------------------------------------------------------------------------------------------------
56        $3,139,627.96  The Delphax         1         Office/R & D     5 Campanelli      Canton       MA         02021
                         Building                                       Circle
- -------------------------------------------------------------------------------------------------------------------------
57        $3,100,000.00  The Phoenix         1         Retail-Single    5665 W. Bell Rd.  Glendale     AZ         85308
                         Sports Building               Tenant
- -------------------------------------------------------------------------------------------------------------------------
58        $2,884,949.76  New Grand Hotel     1         Multifamily      7 EAST 400        Salt Lake    UT         84111
                                                                        South St.         City
- -------------------------------------------------------------------------------------------------------------------------
59        $2,875,000.00  East Hills          1         Retail-Anchored  2641, 2651,       Bakersfield  CA         93306
                         Village Shopping                               2871 Oswell St.
                         Cente
- -------------------------------------------------------------------------------------------------------------------------
60        $2,792,513.50  Rosedale Towers     1         Office           1700 West         Roseville    MN         55113
                         Office Building                                Highway 36
- -------------------------------------------------------------------------------------------------------------------------
61        $2,726,905.48  Western Hills       1         Multifamily      370 Hickory Lane  Westland     MI         48185
                         Apartments
- -------------------------------------------------------------------------------------------------------------------------
62        $2,697,612.50  Dillon Factory      1         Factory          781 Anamone       Dillon       CO         80435
                         Stores                        Outlet           Trail
- -------------------------------------------------------------------------------------------------------------------------
63        $2,625,000.00  Lafayette           1         Office/          1970-90           West St.     MN         55077
                         Business Center               Warehouse        Christensen Ave.  Paul
- -------------------------------------------------------------------------------------------------------------------------
64        $2,525,000.00  Wyngate Medical     1         Office           5602 - 5654       Bethesda     MD         20814
                         Park                                           Shields Dr.
- -------------------------------------------------------------------------------------------------------------------------
65        $2,509,778.41  University          1         Office           2121A, B & C      Davis        CA         95616
                         Business Center                                Second
- -------------------------------------------------------------------------------------------------------------------------
66        $2,500,000.00  Lucas Creek         1         Multifamily      870 Lucas Creek   Newport      VA         23608
                         Apartments                                     Rd.               News



<PAGE>




- -------------------------------------------------------------------------------------------------------------------------
67        $2,430,685.16  Fox Creek           1         Multifamily      1910 S. Josey     Carrollton   TX         75006
                         Apartments                                     Lane
- -------------------------------------------------------------------------------------------------------------------------
68        $2,400,000.00  Spring Hill         1         Multifamily      110-165 N.        Ringgold     GA         30736
                         Apartments I & II                              Guyler St.
- -------------------------------------------------------------------------------------------------------------------------
68        $2,400,000.00  East Ridge          2         Multifamily      5320-26 Clemons   East Ridge   TN         37412
                         Village                                        Rd.
                         Apartments I & II
- -------------------------------------------------------------------------------------------------------------------------
69        $2,351,762.20  Forest Place        1         Multifamily      7618 Forest       Orlando      FL         32810
                         Apartments                                     City Rd.
- -------------------------------------------------------------------------------------------------------------------------
70        $2,312,132.64  Mulberry Row        1         Multifamily      2718 Packard Rd.  Ann Arbor    MI         48104
                         Apartments
- -------------------------------------------------------------------------------------------------------------------------
71        $2,250,000.00  Brentwood Terrace   1         Multifamily      311 S.            Euless       TX         76040
                         Apartments                                     Industrial Blvd.
- -------------------------------------------------------------------------------------------------------------------------
72        $2,241,406.62  580 Cottage Grove   1         Office           580 Cottage       Bloomfield   CT         06002
                         Road                                           Grove Rd.
- -------------------------------------------------------------------------------------------------------------------------
73        $2,187,929.86  Sedgefield          1         Multifamily      2500 N. Semoran   Winter Park  FL         32792
                         Apartments                                     Blvd.
- -------------------------------------------------------------------------------------------------------------------------
74        $2,111,250.70  Bullock Habersham   1         Multifamily      3247-3285         East Point   GA         30344
                         Apartments                                     Washington Rd.
- -------------------------------------------------------------------------------------------------------------------------
75        $2,100,000.00  North               1         Retail-          18749 Frederick   Gaithersburg MD         20879
                         Gaithersburg                  Unanchored       Avenue
                         Shopping Center
- -------------------------------------------------------------------------------------------------------------------------
76        $1,989,559.26  OSO Grande Mobile   1         Mobile Home      399 E. Bear       Glenn        TX         75115
                         Home Village                  Park             Creek             Heights
- -------------------------------------------------------------------------------------------------------------------------
77        $1,950,000.00  Flamingo Pecos      1         Office           3430 E.           Las Vegas    NV         89121
                         Plaza                                          Flamingo Rd.
- -------------------------------------------------------------------------------------------------------------------------
78        $1,946,617.04  San Pedro Place     1         Retail-          431 - 459         San Antonio  TX         78216
                         Shopping Center               Unanchored       McCarty Rd.
- -------------------------------------------------------------------------------------------------------------------------
79        $1,925,000.00  South Post Oak      1         Industrial/      11300 - 11328     Houston      TX         77035
                         Service Center                Warehouse        S. Post Oak
- -------------------------------------------------------------------------------------------------------------------------
80        $1,900,000.00  Central Avenue      1         Industrial/      2076 - 2088       Irwindale    CA         91010
                         Industrial Park               Warehouse        Central Avenue
- -------------------------------------------------------------------------------------------------------------------------
81        $1,850,000.00  Hammond Street      1         Multifamily      2026 South        Tempe        AZ         85252
                         Apartments                                     Hammond St.



<PAGE>




- -------------------------------------------------------------------------------------------------------------------------
82        $1,837,844.63  Rosenberg           1         Multifamily      306 Mendocino     Santa Rosa   CA         95403
                         Building                                       Ave.
                         Apartments
- -------------------------------------------------------------------------------------------------------------------------
83        $1,800,000.00  Wicklow Apartments  1         Multifamily      700 S. Wicklow    Stillwater   OK         74074
- -------------------------------------------------------------------------------------------------------------------------
84        $1,770,466.42  5300 Harbor Street  1         Industrial/      5300 Harbor St.   Commerce     CA         90040
                                    Warehouse
- -------------------------------------------------------------------------------------------------------------------------
85        $1,760,000.00  Cedar Square        1         Retail-Anchored  618-648 Cedar     Duncanville  TX         75137
                         Shopping Center                                Ridge Rd.&
                                                                        702-750
                                                                        Wheatland Rd.
- -------------------------------------------------------------------------------------------------------------------------
86        $1,745,248.39  Ames Department     1         Retail-Single    12511 Edinboro    Washington   PA         16412
                         Store                         Tenant           Road              Township
- -------------------------------------------------------------------------------------------------------------------------
87        $1,729,605.00  Water's Edge        1         Multifamily      22710 Waters      Land O'      FL         34639
                         Apartments                                     Edge Blvd.        Lakes
- -------------------------------------------------------------------------------------------------------------------------
88        $1,719,808.52  The Townhouse       1         Multifamily      3155 East         Colorado     CO         80910
                         Apartments                                     Fountain Blvd.    Springs
- -------------------------------------------------------------------------------------------------------------------------
89        $1,698,449.91  Champlain           1         Multifamily      8001-8024         Kansas City  MO         64131
                         Apartments                                     Campbell St.
- -------------------------------------------------------------------------------------------------------------------------
90        $1,647,300.51  2603 Oaklawn        1         Office           2603 Oaklawn      Dallas       TX         75219
                         Office                                         Avenue
- -------------------------------------------------------------------------------------------------------------------------
91        $1,642,844.47  Carriage Green      1         Multifamily      4525 W. Main      Kalamazoo    MI         49007
                         Apartments
- -------------------------------------------------------------------------------------------------------------------------
92        $1,600,000.00  Stafford Station    1         Office/Retail    120 Stafford      Worcester    MA         01603
                                                                        Street
- -------------------------------------------------------------------------------------------------------------------------
93        $1,540,052.86  Shoppes at          1         Retail-          6500 Market       Gloucester   VA         23061
                         Gloucester                    Unanchored       Drive
- -------------------------------------------------------------------------------------------------------------------------
94        $1,511,000.00  Crosby Green        1         Multifamily      3529 Crosby       Baytown      TX         77520
                         Apartments                                     Cedar Bayou
- -------------------------------------------------------------------------------------------------------------------------
95        $1,500,000.00  Wavertree           1         Multifamily      25 & 51 S.        Flagstaff    AZ         86001
                         Apartments                                     Maricopa
- -------------------------------------------------------------------------------------------------------------------------
96        $1,429,949.26  Riverview           1         Multifamily      1325 South 77     Harlingen    TX         78550
                         Apartments                                     Sunshine Strip
- -------------------------------------------------------------------------------------------------------------------------
96        $1,429,949.26  Riverview           2         Office           1325 South 77     Harlingen    TX         78550
                         Professional                                   Sunshine Strip
                         Building
- -------------------------------------------------------------------------------------------------------------------------
97        $1,396,336.84  Plainfield Realty   1         Multifamily      501-515 W. 7th    Plainfield   NJ         07601
                                                                        St.



<PAGE>




- -------------------------------------------------------------------------------------------------------------------------
98        $1,386,368.95  Lincoln Plaza       1         Office           7125 E. Lincoln   Scottsdale   AZ         85253
                         Medical Center                                 Drive
- -------------------------------------------------------------------------------------------------------------------------
99        $1,381,801.21  Office Depot        1         Retail-Anchored  4550-4650 Lake    Lake Worth   FL         33463
                                                                        Worth Road
- -------------------------------------------------------------------------------------------------------------------------
100       $1,348,815.76  Callahan Plaza      1         Retail-Anchored  SWC S.R.200       Callahan     FL         32011
                                                                        (A1A) &
                                                                        Stratton Rd.
- -------------------------------------------------------------------------------------------------------------------------
101       $1,343,160.14  Precision Metal     1         Industrial/      850 Bradley Ave.  El Cajon     CA         92020
                         Products                      Warehouse
- -------------------------------------------------------------------------------------------------------------------------
102       $1,309,043.60  Frank's Nursery &   1         Retail-Single    2050 Telegraph    Bloomfield   MI         48302
                         Craft Store #277              Tenant           Square Lake Rd.
- -------------------------------------------------------------------------------------------------------------------------
103       $1,300,000.00  228 River Street    1         Multifamily      228 River Street  Hackensack   NJ         07601
- -------------------------------------------------------------------------------------------------------------------------
104       $1,294,871.06  Frank's Nursery &   1         Retail-Single    116 Brick Blvd.   Bricktown    NJ         08723
                         Craft Store #626              Tenant
- -------------------------------------------------------------------------------------------------------------------------
105       $1,273,664.59  Franklin School     1         Multifamily      813 2nd Ave.      Great Falls  MT         59404
                         Apartments
- -------------------------------------------------------------------------------------------------------------------------
106       $1,250,000.00  North Georgia       1         Mini-Warehouse   HWY 41            Ringgold     GA         30736
                         Business Center
- -------------------------------------------------------------------------------------------------------------------------
106       $1,250,000.00  Direct Connection   2         Mini-Warehouse   6825,6827,6829,683Rossville    GA         30756
                         Drive Business                                 Direct
                         Center                                         Connection Dr.
- -------------------------------------------------------------------------------------------------------------------------
107       $1,250,000.00  Westridge           1         Multifamily      330 S. Beck Ave.  Tempe        AZ         85281
                         Apartments
- -------------------------------------------------------------------------------------------------------------------------
108       $1,248,637.83  12222 Moorpark      1         Multifamily      12222 Moorpark    Studio City  CA         91604
- -------------------------------------------------------------------------------------------------------------------------
109       $1,245,452.34  Somerset            1         Multifamily      4402 Glasscock    Harlingen    TX         78550
                         Apartments
- -------------------------------------------------------------------------------------------------------------------------
110       $1,208,888.55  Town Center Plaza   1         Office           5295 Town         Boca Raton   FL         33486
                                                                        Center Rd.
- -------------------------------------------------------------------------------------------------------------------------
111       $1,159,333.99  Deer Creek          1         Multifamily      3550 St.          Dallas       TX         75228
                         Apartments                                     Francis Ave.
- -------------------------------------------------------------------------------------------------------------------------
112       $1,100,000.00  Mt. Airy Manor      1         Multifamily      315 E. Mt. Airy   Philadelphia PA         19119
                         Apartments                                     Ave.
- -------------------------------------------------------------------------------------------------------------------------
113       $1,099,380.11  Applegate Trail     1         Multifamily      4520 Bristol      Klamath      OR         97603
                         Apartments                                     Ave.              Falls



<PAGE>




- -------------------------------------------------------------------------------------------------------------------------
114       $1,057,272.21  Plaza Farms         1         Multifamily      6840 & 6860       Wheatfield   NY         14301
                         Apartments                                     PLaza Dr.
- -------------------------------------------------------------------------------------------------------------------------
114       $1,057,272.21  Zito Apartments     2         Multifamily      9049 Zito St.     Niagara      NY         14304
                                                                                        Falls
- -------------------------------------------------------------------------------------------------------------------------
114       $1,057,272.21  Washington Street   3         Multifamily      4535-47 &         Lewiston     NY         14092
                         Development                                    4549-65
                                                                        Washington Dr.
- -------------------------------------------------------------------------------------------------------------------------
115       $1,048,226.48  Williams Group      1         Office/          3211 University   Albuquerque  NM         87106
                         Office / Warehouse            Warehouse        Blvd., SE
- -------------------------------------------------------------------------------------------------------------------------
116       $1,046,179.97  Buckingham          1         Multifamily      1601 Haverford    Harlingen    TX         78552
                         Apartments                                     Place
- -------------------------------------------------------------------------------------------------------------------------
117       $1,028,158.72  Raleigh Square      1         Multifamily      4500 Cherry       Oklahoma     OK         73135
                         Apartments                                     Hill Lane         City
- -------------------------------------------------------------------------------------------------------------------------
118       $1,000,000.00  Mountain Shadow     1         Multifamily      2527 Ferndale     Helena       MT         59601
                         Apartments                                     Lane
- -------------------------------------------------------------------------------------------------------------------------
119       $997,321.82    Colonial            1         Multifamily      900 N. Durham     Houston      TX         77007
                         Apartments
- -------------------------------------------------------------------------------------------------------------------------
120       $995,758.04    Village             1         Retail-          11618 - 11672     Orlando      FL         32807
                         Marketplace of                Unanchored       East Colonal
                         Union Park                                     Drive
- -------------------------------------------------------------------------------------------------------------------------
121       $978,436.67    Kendall Plaza       1         Retail-          13740 SW 84th     Miami        FL         33183
                         Shopping Center               Unanchored       St.
- -------------------------------------------------------------------------------------------------------------------------
122       $950,000.00    Century Mobile      1         Mobile Home      1700 South        Alamosa      CO         81101
                         Home Park                     Park             State Ave.
- -------------------------------------------------------------------------------------------------------------------------
123       $942,434.67    Hy-Vee Shopping     1         Retail-Anchored  S. 20th St. at    New Ulm      MN         56073
                         Center                                         Broadway
- -------------------------------------------------------------------------------------------------------------------------
124       $941,334.10    Frank's Nursery &   1         Retail-Single    1800 Highway 36   Roseville    MN         55113
                         Craft Store #65               Tenant
- -------------------------------------------------------------------------------------------------------------------------
125       $935,000.00    ETI Center          1         Industrial/      149 & 153 East    West St.     MN         55118
                                                       Warehouse        Thompson Ave.     Paul
- -------------------------------------------------------------------------------------------------------------------------
126       $930,000.00    8801-8811 Castner   1         Industrial/      8801 - 8811       El Paso      TX         79907
                         Drive                         Warehouse        Casther Dr.
- -------------------------------------------------------------------------------------------------------------------------
127       $897,545.31    Garden Gate         1         Multifamily      200 West Union    Irving       TX         75061
                         Apartments                                     Bower Rd.



<PAGE>



- -------------------------------------------------------------------------------------------------------------------------
128       $895,351.06    Frank's Nursery &   1         Retail-Single    8040 Glen Lane    Eden         MN         55344
                         Craft Srore #244              Tenant                           Prairie
- -------------------------------------------------------------------------------------------------------------------------
129       $847,546.90    Westview Gardens    1         Multifamily      6804 Westview     Houston      TX         77055
                         Apartments
- -------------------------------------------------------------------------------------------------------------------------
130       $835,695.35    Frank's Nursery &   1         Retail-Single    1360 Duckwood     Eagan        MN         55123
                         Craft Store #245              Tenant           Dr.
- -------------------------------------------------------------------------------------------------------------------------
131       $812,787.42    Southern Hills      1         Multifamily      407 West Galaxy   Sapulpa      OK         74066
                         Apartments                                     Rd.
- -------------------------------------------------------------------------------------------------------------------------
131       $812,787.42    Wood Haven          2         Multifamily      919 South         Sapulpa      OK         74066
                         Apartments                                     Mission
- -------------------------------------------------------------------------------------------------------------------------
132       $800,000.00    Berneta Bivins      1         Office           701 Park Place    Amarillo     TX         79101
                         Office Building
- -------------------------------------------------------------------------------------------------------------------------
133       $750,000.00    2125 West Spur -    1         Office/          2125 West Spur    Grand        TX         75053
                         HWY 303                       Warehouse        HWY 303           Prairie
- -------------------------------------------------------------------------------------------------------------------------
134       $715,113.70    Frank's Nursery &   1         Retail-Single    5738 Beckley Rd.  Battle       MI         49815
                         Crafts Store #168             Tenant                           Creek
- -------------------------------------------------------------------------------------------------------------------------
135       $674,768.09    Frank's Nursery &   1         Retail-Single    2450 28th St. SE  Grand        MI         49505
                         Crafts Store #25              Tenant                           Rapids
- -------------------------------------------------------------------------------------------------------------------------
136       $620,000.00    43rd Place          1         Industrial/Ware  3770 - 3782 E.    Tucson       AZ         85717
                         Industrial                    house            43rd Place
=========================================================================================================================

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