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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 AND EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): November 17, 1997
FIRST UNION COMMERCIAL MORTGAGE SECURITIES, INC.
------------------------------------------------------------------
(Exact name of registrant as specified in its governing instruments)
DELAWARE 333-7854 56-1643598
- ---------------------------- ------------------------ -------------------
(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of Incorporation) Identification No.)
ONE FIRST UNION CENTER
CHARLOTTE, NORTH CAROLINA 28228-0600
----------------------------------------
(Address of Principal Executive Offices)
Registrant's telephone number, including area code: (704) 374-6828
================================================================================
Exhibit Index appears on page 5
<PAGE>
ITEM 5. OTHER EVENTS
On or about November 25, 1997, the Registrant will cause the issuance and
sale of approximately $2,203,502,324.63 initial principal amount of Mortgage
Pass-Through Certificates, Series 1997-C2, in several classes (collectively, the
"Certificates") pursuant to a Pooling and Servicing Agreement to be dated as of
November 1, 1997, among the Registrant, First Union National Bank as master
servicer, Criimi Mae Services Limited Partnership as special servicer, LaSalle
National Bank as trustee and ABN Amro Bank N.V. as fiscal agent (the "Pooling
and Servicing Agreement").
In connection with the sale of certain classes of the Certificates
(collectively, the "Underwritten Certificates") pursuant to a Prospectus
Supplement relating to certain classes of the Certificates, the Registrant has
been advised by Lehman Brothers Inc. and First Union Capital Markets Corp. (the
"Underwriters") that the Underwriters have, following the effective date of
Registration Statement No. 333-7854, furnished to one or more prospective
investors on November 17, 1997 a Collateral Term Sheet setting forth certain
information about certain of the mortgage loans expected to be deposited in
trust under the Pooling and Servicing Agreement and the size and structure of
the potential offering (the "Collateral Term Sheet"). This Collateral Term Sheet
is being filed as an exhibit to this report.
The Collateral Term Sheet has been provided by the Underwriters. The
information in the Collateral Term Sheet is preliminary and will be superseded
by the Prospectus Supplement relating to the Underwritten Certificates and by
any other information subsequently filed with the Securities and Exchange
Commission.
-2-
<PAGE>
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial Statements.
Not applicable.
(b) Pro Forma Financial Information
Not applicable.
(c) Exhibits
Item 601(a) of Regulation
Exhibit Number S-K Exhibit No. Description
-------------- ------------------------- ---------------------
1 99 Collateral Term Sheet
-3-
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
FIRST UNION COMMERCIAL
MORTGAGE SECURITIES, INC.
By: /s/ MICHAEL H. GRECO
----------------------------------
Name: Michael H. Greco
Title: Senior Vice President
Dated: November 19, 1997
-4-
<PAGE>
EXHIBIT INDEX
Item 601(a) of Regulation
Exhibit Number S-K Exhibit No. Description
-------------- ------------------------- ---------------------
1 99 Collateral Term Sheet
-5-
<TABLE>
<CAPTION>
Control # Property Name Property Type
====================================================================================================
<S> <C> <C>
1 Rentar Industrial/Retail
2 Plainview Shopping Center Retail - Anchored
3 Centreville Square Retail - Anchored
4 Soho Court Multifamily
5 Blue Cross Blue Shield Office - CTL
6 Fountainhead Apartments Multifamily
7 Drury Portfolio #1 Hospitality
7a Drury Inn - Columbia Hospitality
7b Drury Inn -Terre Haute Hospitality
7c Drury Inn - Indianapolis Hospitality
7d Drury Inn - St. Peters Hospitality
7e Hampton Inn - St. Louis airport Hospitality
8 Sutton Place Multifamily
9 Town Square Wheaton Retail - Unanchored
10 San Pedro Plaza Retail - Anchored
11 Office Depot - Delray Beach Office - CTL
12 Cypress Palms & Sabal Palms (Roll-up) Skilled Nursing/Cong Care
12a Cypress Palms Assisted Living Center Congregate Care
12b Sabal Palms Health Care Center Skilled Nursing
13 Pinole Vista Crossing Retail - Anchored
14 675 Sixth Avenue Office
15 Citrus Center Office Building Office
16 Hartford Fire - Farmington Office - CTL
17 Campus Club Multifamily
18 Park Esplanade Apartments Multifamily
19 Glazer Portfolio (Roll-up) Retail - 7 Anchored/1 Unanchored
19a Allentown-Glazer Retail - Anchored
19b K-Mart Plaza (Chambersburg-Glazer) Retail - Anchored
19c Rt. 30 Mall (Glazer) Retail - Anchored
19d Hills Plaza (Glazer) Retail - Anchored
19e Perry Plaza Shopping Center (Glazer) Retail - Anchored
19f Ridge Plaza Seneca-Glazer Retail - Unanchored
19g Vineland-Glazer Retail - Anchored
19h Acme Plaza (Reading) Glazer Retail - Anchored
20 Cross Island Plaza Office
21 The Hamptons Multifamily
22 Noland Fashion Square Retail - Anchored
23 Sheraton Orlando North Hospitality
24 Olive Tree Multifamily
25 Saddleback Apts. Multifamily
26 Drury Portfolio #2 Hospitality
26a Drury Inn & Suites Springfield Hospitality
<CAPTION>
Initial Current Annual
Deposit Balance Deposit to
to Capital Capital Replacement
Control # Property Name Imp. Reserve Imp. Reserve Reserve *
===========================================================================================================
<S> <C> <C> <C> <C>
1 Rentar - - 156,722
2 Plainview Shopping Center 82,750 82,750 44,319
3 Centreville Square - - 40,437
4 Soho Court - - 29,256
5 Blue Cross Blue Shield - - -
6 Fountainhead Apartments 113,750 34,320 117,810
7 Drury Portfolio #1 28,188 28,188 -
----------------------------------------------
7a Drury Inn - Columbia 3,313 3,313 -
7b Drury Inn -Terre Haute 4,000 4,000 -
7c Drury Inn - Indianapolis 13,375 13,375 -
7d Drury Inn - St. Peters 2,500 2,500 -
7e Hampton Inn - St. Louis airport 5,000 5,000 -
8 Sutton Place - - 104,580
9 Town Square Wheaton - - 19,309
10 San Pedro Plaza - - -
11 Office Depot - Delray Beach 625 625 -
12 Cypress Palms & Sabal Palms (Roll-up) - - 87,903
----------------------------------------------
12a Cypress Palms Assisted Living Center - - NAV
12b Sabal Palms Health Care Center - - NAV
13 Pinole Vista Crossing - - -
14 675 Sixth Avenue - - 47,250
15 Citrus Center Office Building - - 438,760
16 Hartford Fire - Farmington - - 10,765
17 Campus Club 2,125 2,125 126,000
18 Park Esplanade Apartments 8,750 8,763 88,404
19 Glazer Portfolio (Roll-up) 42,250 42,250 171,108
----------------------------------------------
19a Allentown-Glazer 11,000 11,000 51,468
19b K-Mart Plaza (Chambersburg-Glazer) 12,000 12,000 20,808
19c Rt. 30 Mall (Glazer) 3,100 3,100 9,540
19d Hills Plaza (Glazer) - - 16,836
19e Perry Plaza Shopping Center (Glazer) 1,000 1,000 23,784
19f Ridge Plaza Seneca-Glazer 600 600 7,380
19g Vineland-Glazer 1,000 1,000 23,436
19h Acme Plaza (Reading) Glazer 13,550 13,550 17,856
20 Cross Island Plaza 938 - 37,944
21 The Hamptons 6,125 6,153 98,400
22 Noland Fashion Square - - 27,065
23 Sheraton Orlando North 5,625 5,625 460,500
24 Olive Tree 76,601 76,601 133,350
25 Saddleback Apts. - - 101,850
26 Drury Portfolio #2 5,625 5,625 -
----------------------------------------------
26a Drury Inn & Suites Springfield 5,625 5,625 -
<CAPTION>
Current Annual Current As of
Balance Deposit to Balance Date of
Replacement TI/LC TI/LC Reserve
Control # Property Name Reserve Reserve * Reserve Accounts
===============================================================================================================================
<S> <C> <C> <C> <C> <C>
1 Rentar 39,180 249,996 83,628 10/29/97
2 Plainview Shopping Center 3,693 - - 10/29/97
3 Centreville Square - 40,000 100,000 10/29/97
4 Soho Court 2,438 - - 10/29/97
5 Blue Cross Blue Shield - NAP NAP 10/29/97
6 Fountainhead Apartments 48,622 - - 10/29/97
7 Drury Portfolio #1 - - - 10/29/97
----------------------------------------------
7a Drury Inn - Columbia - - - 10/29/97
7b Drury Inn -Terre Haute - - - 10/29/97
7c Drury Inn - Indianapolis - - - 10/29/97
7d Drury Inn - St. Peters - - - 10/29/97
7e Hampton Inn - St. Louis airport - - - 10/29/97
8 Sutton Place 43,631 - - 10/29/97
9 Town Square Wheaton 4,832 - - 10/29/97
10 San Pedro Plaza - 24,996 - 10/29/97
11 Office Depot - Delray Beach - NAP NAP 10/29/97
12 Cypress Palms & Sabal Palms (Roll-up) 7,326 - - 10/21/97
----------------------------------------------
12a Cypress Palms Assisted Living Center NAV - - 10/21/97
12b Sabal Palms Health Care Center NAV - - 10/21/97
13 Pinole Vista Crossing - - 530,145 10/22/97(1)
14 675 Sixth Avenue - 350,000 438,883 10/29/97(2)
15 Citrus Center Office Building 645,410 - 149,890 9/29/97
16 Hartford Fire - Farmington - NAP NAP 10/29/97
17 Campus Club - - - 10/29/97
18 Park Esplanade Apartments 237,018 - - 10/22/97
19 Glazer Portfolio (Roll-up) 45,591 48,012 16,026 10/29/97
----------------------------------------------
19a Allentown-Glazer NAV 10,368 NAV 10/29/97
19b K-Mart Plaza (Chambersburg-Glazer) NAV 8,640 NAV 10/29/97
19c Rt. 30 Mall (Glazer) NAV 11,664 NAV 10/29/97
19d Hills Plaza (Glazer) NAV 5,916 NAV 10/29/97
19e Perry Plaza Shopping Center (Glazer) NAV 2,400 NAV 10/29/97
19f Ridge Plaza Seneca-Glazer NAV 2,400 NAV 10/29/97
19g Vineland-Glazer NAV 3,144 NAV 10/29/97
19h Acme Plaza (Reading) Glazer NAV 3,480 NAV 10/29/97
20 Cross Island Plaza 9,496 262,056 44,614 10/29/97
21 The Hamptons 24,675 - - 10/29/97
22 Noland Fashion Square 4,511 79,970 13,328 10/21/97
23 Sheraton Orlando North 82,468 - - 9/29/97
24 Olive Tree 33,381 - - 10/29/97
25 Saddleback Apts. 25,496 - - 10/29/97
26 Drury Portfolio #2 - - - 10/29/97
----------------------------------------------
26a Drury Inn & Suites Springfield - - - 10/29/97
<PAGE>
<CAPTION>
Control # Property Name Property Type
=========================================================================================
<S> <C> <C>
26b Drury Houston Galleria Hospitality
26c Drury Inn - Woodlands Hospitality
27 Hylan Commons Retail - Anchored
28 Eatoncrest Multifamily
29 625 Sixth Avenue Office
30 375 and 377 Ghent Road Office
31 Chapel Hill Apartments Multifamily
32 Royal Palms Senior Residence Multifamily
33 Abrams Run Apartments Multifamily
34 Brandon Crossings Shopping Center Retail - Unanchored
35 Trexlertown Shopping Center Retail - Anchored
36 Renaissance Parc Multifamily
37 Berkley Square Retail - Anchored
38 Oak Ridge Corporate Center Office
39 NorthPark Executive Suites Hotel Hospitality
40 Serramonte Plaza Office
41 Palm Court Apartments Congregate Care
42 K Mart - San Antonio Retail - CTL
43 Yaohan Plaza Torrance Retail - Anchored
44 Irondequoit Shopping Plaza Retail - Anchored
45 The Deauville Multifamily
46 The NorthCorp Center Office
47 Garden Ridge - Kennesaw Retail - CTL
48 Holiday Inn Select (Appleton) Hospitality
49 Perwinkle Place Shopping Center Retail - Unanchored
50 Garden Ridge - Norcross Retail - CTL
51 Willow Bend Town Centre Retail - Anchored
52 Coachman Manor Multifamily
53 Avalon Manor Note A Skilled Nursing
54 Avalon Manor Note B Skilled Nursing
55 Mountain View Apartments Multifamily
56 FEL Facility Industrial/Retail
57 Castle Way Multifamily
58 Gateway Shopping Center Retail - Anchored
59 2011 North Soto Street Industrial
60 Herndon Centre III Retail - Anchored
61 Yaohan Plaza Costa Mesa Retail - Anchored
62 Brainerd Village Retail - Anchored
63 Chatsworth Gardens Congregate Care
64 Sierra Creek Multifamily
65 Shirley Shopping Center Retail - Anchored
66 One Price Distribution Center Industrial
67 Quail Lakes Center Retail - Anchored
68 Cedar Run Multifamily
69 Woodmeade South Apartments Multifamily
70 Park Tower Office
71 Brampton Moors Multifamily
72 Country Place I Multifamily
73 Walmart - Boone Retail - CTL
74 Premier Place Shopping Center Retail - Anchored
75 Concordia Shopping Center Retail - Anchored
76 Ten Quivira Plaza Shopping Center Retail - Anchored
<CAPTION>
Initial Current Annual
Deposit Balance Deposit to
to Capital Capital Replacement
Control # Property Name Imp. Reserve Imp. Reserve Reserve *
============================================================================================================
<S> <C> <C> <C> <C>
26b Drury Houston Galleria - - -
26c Drury Inn - Woodlands - - -
27 Hylan Commons 20,469 20,469 8,528
28 Eatoncrest 45,938 45,938 82,400
29 625 Sixth Avenue - - 26,250
30 375 and 377 Ghent Road 200,375 200,375 12,245
31 Chapel Hill Apartments 20,000 4,510 40,500
32 Royal Palms Senior Residence - - 68,849
33 Abrams Run Apartments - - 38,400
34 Brandon Crossings Shopping Center 40,500 40,500 56,722
35 Trexlertown Shopping Center 9,625 9,625 36,047
36 Renaissance Parc 24,219 24,219 58,800
37 Berkley Square 11,125 11,125 27,036
38 Oak Ridge Corporate Center - - 22,920
39 NorthPark Executive Suites Hotel 38,875 38,875 191,078
40 Serramonte Plaza 500,000 500,000 21,387
41 Palm Court Apartments 2,788 2,788 23,000
42 K Mart - San Antonio - - -
43 Yaohan Plaza Torrance - - 8,502
44 Irondequoit Shopping Plaza - - 18,387
45 The Deauville - - 14,942
46 The NorthCorp Center 4,375 - 62,691
47 Garden Ridge - Kennesaw - - -
48 Holiday Inn Select (Appleton) 46,750 - 174,323
49 Perwinkle Place Shopping Center 6,250 6,250 9,862
50 Garden Ridge - Norcross - - -
51 Willow Bend Town Centre 11,375 11,375 18,444
52 Coachman Manor 30,375 30,464 111,600
53 Avalon Manor Note A 4,313 4,313 66,300
54 Avalon Manor Note B - - -
55 Mountain View Apartments - - -
56 FEL Facility 65,000 65,000 68,925
57 Castle Way - - 44,800
58 Gateway Shopping Center 25,638 25,638 25,774
59 2011 North Soto Street 96,469 39,169 43,476
60 Herndon Centre III - - 10,272
61 Yaohan Plaza Costa Mesa - - 6,630
62 Brainerd Village 65,625 65,625 33,274
63 Chatsworth Gardens - - 39,600
64 Sierra Creek - - 60,200
65 Shirley Shopping Center - - 20,954
66 One Price Distribution Center 26,275 26,275 52,662
67 Quail Lakes Center 17,100 17,100 14,097
68 Cedar Run 185,388 185,388 95,750
69 Woodmeade South Apartments 88,125 88,125 57,108
70 Park Tower - - 21,904
71 Brampton Moors 73,750 36,951 71,008
72 Country Place I 42,500 42,500 50,496
73 Walmart - Boone - - -
74 Premier Place Shopping Center - - 7,649
75 Concordia Shopping Center 27,500 27,500 19,505
76 Ten Quivira Plaza Shopping Center - - 22,744
<CAPTION>
Current Annual Current As of
Balance Deposit to Balance Date of
Replacement TI/LC TI/LC Reserve
Control # Property Name Reserve Reserve * Reserve Accounts
==============================================================================================================================
<S> <C> <C> <C> <C> <C>
26b Drury Houston Galleria - - - 10/29/97
26c Drury Inn - Woodlands - - - 10/29/97
27 Hylan Commons 711 - - 10/29/97
28 Eatoncrest - - - 10/29/97
29 625 Sixth Avenue 6,570 150,000 191,025 10/29/97(3)
30 375 and 377 Ghent Road 1,021 75,000 6,253 10/29/97
31 Chapel Hill Apartments 23,668 - - 10/29/97
32 Royal Palms Senior Residence 5,738 - - 10/21/97
33 Abrams Run Apartments - - - 10/29/97
34 Brandon Crossings Shopping Center 4,727 55,000 9,167 10/29/97
35 Trexlertown Shopping Center - 25,000 100,000 10/29/97
36 Renaissance Parc 14,715 - - 10/29/97
37 Berkley Square 2,253 137,683 22,948 10/3/97
38 Oak Ridge Corporate Center 1,910 71,724 455,677 10/29/97
39 NorthPark Executive Suites Hotel 31,846 - - 10/29/97
40 Serramonte Plaza - 120,000 - 10/29/97
41 Palm Court Apartments 3,835 - - 10/29/97
42 K Mart - San Antonio - NAP NAP 10/29/97
43 Yaohan Plaza Torrance - 75,000 - 10/21/97
44 Irondequoit Shopping Plaza 7,671 24,000 10,038 10/29/97
45 The Deauville 1,245 - - 10/29/97
46 The NorthCorp Center 10,449 100,000 16,667 10/29/97
47 Garden Ridge - Kennesaw - NAP NAP 10/29/97
48 Holiday Inn Select (Appleton) 87,868 - - 10/24/97
49 Perwinkle Place Shopping Center - 45,638 3,803 10/29/97
50 Garden Ridge - Norcross - NAP NAP 10/29/97
51 Willow Bend Town Centre 1,537 - - 10/29/97
52 Coachman Manor 18,637 - - 10/29/97
53 Avalon Manor Note A 22,100 - - 10/29/97
54 Avalon Manor Note B - - - 10/29/97
55 Mountain View Apartments - - - 9/30/96
56 FEL Facility - - - 10/29/97
57 Castle Way 3,733 - - 10/29/97
58 Gateway Shopping Center 8,591 2,864 205,979 10/29/97
59 2011 North Soto Street 3,623 90,720 109,667 10/21/97(4)
60 Herndon Centre III - - - 10/29/97
61 Yaohan Plaza Costa Mesa - 60,000 - 10/21/97
62 Brainerd Village - - - 10/23/97
63 Chatsworth Gardens - - - 10/29/97
64 Sierra Creek 15,070 - - 10/29/97
65 Shirley Shopping Center 6,993 12,000 4,005 10/29/97
66 One Price Distribution Center 13,180 - - 10/29/97
67 Quail Lakes Center 2,353 - - 10/29/97
68 Cedar Run 23,966 - - 10/29/97
69 Woodmeade South Apartments 4,759 - - 10/29/97
70 Park Tower 5,487 155,000 693,315 10/21/97(5)
71 Brampton Moors 17,752 - - 10/29/97
72 Country Place I 8,443 - - 10/29/97
73 Walmart - Boone - NAP NAP 10/29/97
74 Premier Place Shopping Center - 32,736 - 10/29/97
75 Concordia Shopping Center 8,110 - - 10/29/97
76 Ten Quivira Plaza Shopping Center - 36,325 - 10/21/97
<PAGE>
<CAPTION>
Control # Property Name Property Type
==========================================================================================
<S> <C> <C>
77 Grandin Ridge Apartments Multifamily
78 Willowick Multifamily
79 Buccaneer Trace Apartments Multifamily
80 Euclid Shopping Center Retail - Anchored
81 Overlook Rim Apartments Multifamily
82 Drury Inn - St. Louis Airport Hospitality
83 Farmington Multifamily
84 Key Biscayne Galeria Retail - Anchored
85 The Crossings Shopping Center Retail - Anchored
86 Scottsdale Park Terrace Multifamily
87 Falls Village Multifamily
88 Holiday Inn - Catalina Centre Hospitality
89 Dam Neck Crossings Retail - Anchored
90 Roger Smith Hotel Hospitality
91 Main Street Village Apartments Multifamily
92 DFW Air Cargo Complex Industrial
93 Bayview Apartments Multifamily
94 Whiting Shopping Center Retail - Anchored
95 Circuit City - Poughkeepsie Retail - CTL
96 Reisterstown Business Center Industrial
97 Nob Hill Apartments - Madison Multifamily
98 Atrium Executive Plaza Office
99 Gardens Park Plaza Retail - Anchored
100 Plaza Healthcare Skilled Nursing
101 Leisure Living Properties - 3 Assets Assisted Living
101a CumberLand Retirement Village Assisted Living
101b Fountain View - Portage Assisted Living
101c Fountain View - Fremont Assisted Living
102 Victoria Village shopping center Retail - Anchored
103 Terraces @ Windy Hill Retail - Unanchored
104 Ralphs 67th Street Retail - Anchored
105 Brywood Shopping Center Retail - Anchored
106 Clarington Multifamily
107 Tallahasse Residence Inn Hospitality
108 Bradford Place Apartments Multifamily
109 Bellevue Valley Plaza Retail - Anchored
110 Tri State Plaza Retail - Anchored
111 Chimney Sweep Apartments Multifamily
112 Forest Brook Apartments Multifamily
113 Holiday Inn-Oceanfront Hospitality
114 Nob Hill Apartments - Birmingham Multifamily
115 Carriage Way Shopping Center Retail - Anchored
116 The Benchmark Office
117 Bally Total Fitness - Bloomington Health & Fitness - CTL
118 Hampton Inn - Daytona Hospitality
119 The Bradley Building Retail - Unanchored
120 Lincoln Plaza Office
121 Oak Ridge Technical Center III Office
122 215 Coles Street Industrial
123 Westpark Walk Retail - Unanchored
124 Albertson's, Inc. - Pharr-McAllen Retail - CTL
<CAPTION>
Initial Current Annual
Deposit Balance Deposit to
to Capital Capital Replacement
Control # Property Name Imp. Reserve Imp. Reserve Reserve *
==============================================================================================================
<S> <C> <C> <C> <C>
77 Grandin Ridge Apartments 29,000 29,000 59,278
78 Willowick 17,563 17,563 97,565
79 Buccaneer Trace Apartments 96,000 96,000 74,464
80 Euclid Shopping Center 43,794 1,995 19,440
81 Overlook Rim Apartments - - 59,400
82 Drury Inn - St. Louis Airport 11,656 11,656 -
83 Farmington - - 33,600
84 Key Biscayne Galeria - - 7,632
85 The Crossings Shopping Center 5,625 5,625 15,408
86 Scottsdale Park Terrace - - 37,600
87 Falls Village 16,438 16,438 247,165
88 Holiday Inn - Catalina Centre - - 117,396
89 Dam Neck Crossings 2,650 2,650 13,857
90 Roger Smith Hotel 40,000 40,000 247,165
91 Main Street Village Apartments - - 23,254
92 DFW Air Cargo Complex 45,100 45,100 25,620
93 Bayview Apartments 10,000 10,000 32,508
94 Whiting Shopping Center 47,500 47,500 18,588
95 Circuit City - Poughkeepsie - - -
96 Reisterstown Business Center - - 13,260
97 Nob Hill Apartments - Madison 1,250 - 68,000
98 Atrium Executive Plaza 21,261 21,261 15,656
99 Gardens Park Plaza 1,875 - 23,017
100 Plaza Healthcare - - 55,250
101 Leisure Living Properties - 3 Assets 13,750 13,750 47,037
----------------------------------------------
101a CumberLand Retirement Village 7,000 7,000 NAV
101b Fountain View - Portage 3,000 3,000 NAV
101c Fountain View - Fremont 3,750 3,750 NAV
102 Victoria Village shopping center 3,750 3,750 16,626
103 Terraces @ Windy Hill 40,500 40,500 13,505
104 Ralphs 67th Street - - 4,716
105 Brywood Shopping Center 1,250 1,250 31,838
106 Clarington 2,500 2,500 48,042
107 Tallahasse Residence Inn - - 80,235
108 Bradford Place Apartments 283,600 175,206 66,144
109 Bellevue Valley Plaza 51,831 51,831 9,840
110 Tri State Plaza - - 11,448
111 Chimney Sweep Apartments 92,950 92,950 25,200
112 Forest Brook Apartments 108,750 109,234 78,600
113 Holiday Inn-Oceanfront 4,600 4,692 264,152
114 Nob Hill Apartments - Birmingham 106,113 17,968 47,117
115 Carriage Way Shopping Center 9,750 9,750 10,332
116 The Benchmark 28,500 4,600 17,115
117 Bally Total Fitness - Bloomington 23,208 23,208 -
118 Hampton Inn - Daytona 7,125 7,125 86,912
119 The Bradley Building 67,500 67,500 34,164
120 Lincoln Plaza - - 37,873
121 Oak Ridge Technical Center III - - 9,756
122 215 Coles Street 14,625 14,625 78,737
123 Westpark Walk 42,456 42,794 21,616
124 Albertson's, Inc. - Pharr-McAllen - - 16,654
<CAPTION>
Current Annual Current As of
Balance Deposit to Balance Date of
Replacement TI/LC TI/LC Reserve
Control # Property Name Reserve Reserve * Reserve Accounts
================================================================================================================================
<S> <C> <C> <C> <C> <C>
77 Grandin Ridge Apartments 14,834 - - 10/29/97
78 Willowick 16,294 - - 10/29/97
79 Buccaneer Trace Apartments - - - 9/30/97
80 Euclid Shopping Center 6,480 28,500 13,879 10/29/97(6)
81 Overlook Rim Apartments 29,738 - - 10/29/97
82 Drury Inn - St. Louis Airport - - - 10/29/97
83 Farmington 5,604 - - 10/29/97
84 Key Biscayne Galeria 636 18,000 1,500 10/29/97
85 The Crossings Shopping Center 1,286 - 451,490 10/29/97(7)
86 Scottsdale Park Terrace 3,133 - - 10/29/97
87 Falls Village - - - 10/29/97
88 Holiday Inn - Catalina Centre 19,566 - - 10/29/97
89 Dam Neck Crossings - - - 10/29/97
90 Roger Smith Hotel - - - 10/29/97
91 Main Street Village Apartments 3,882 - - 10/29/97
92 DFW Air Cargo Complex 8,540 - - 10/29/97
93 Bayview Apartments 309,889 - - 10/29/97
94 Whiting Shopping Center 6,201 - - 10/29/97
95 Circuit City - Poughkeepsie - NAP NAP 10/29/97
96 Reisterstown Business Center 2,205 31,260 5,346 9/29/97
97 Nob Hill Apartments - Madison 5,667 - - 10/22/97
98 Atrium Executive Plaza 2,611 - - 10/29/97
99 Gardens Park Plaza 9,599 - - 10/29/97
100 Plaza Healthcare - - - 10/29/97
101 Leisure Living Properties - 3 Assets 23,709 - - 10/29/97
----------------------------------------------
101a CumberLand Retirement Village NAV - - 10/29/97
101b Fountain View - Portage NAV - - 10/29/97
101c Fountain View - Fremont NAV - - 10/29/97
102 Victoria Village shopping center 5,549 - - 10/29/97
103 Terraces @ Windy Hill 2,253 - - 10/29/97
104 Ralphs 67th Street - - - 10/21/97
105 Brywood Shopping Center - 60,495 97,833 10/21/97(8)
106 Clarington 8,020 - - 10/29/97
107 Tallahasse Residence Inn 13,378 - - 10/29/97
108 Bradford Place Apartments 38,900 - - 10/31/97
109 Bellevue Valley Plaza 1,644 - - 10/29/97
110 Tri State Plaza 2,866 9,836 1,543,508 10/29/97(9)
111 Chimney Sweep Apartments 93,499 - - 10/29/97
112 Forest Brook Apartments 19,691 - - 10/29/97
113 Holiday Inn-Oceanfront 88,310 - - 10/24/97
114 Nob Hill Apartments - Birmingham - - - 10/29/97
115 Carriage Way Shopping Center 1,723 - - 10/29/97
116 The Benchmark 5,708 300,000 10,000 10/29/97
117 Bally Total Fitness - Bloomington - NAP NAP 10/29/97
118 Hampton Inn - Daytona - - - 10/29/97
119 The Bradley Building 5,694 35,400 80,900 10/22/97
120 Lincoln Plaza 9,468 80,000 13,333 10/22/97
121 Oak Ridge Technical Center III 813 29,400 52,450 10/29/97
122 215 Coles Street - - - 10/29/97
123 Westpark Walk 3,628 - - 10/29/97
124 Albertson's, Inc. - Pharr-McAllen 20,000 NAP NAP 10/29/97
<PAGE>
<CAPTION>
Control # Property Name Property Type
==========================================================================================
<S> <C> <C>
125 The 535 Plaza Retail - Unanchored
126 Vanguard Distribution Building Industrial/Retail
127 Saratoga Holiday Inn Hospitality
128 Courtyard Sarasota Hospitality
129 Barnes & Noble, Inc. - Rockleigh Mixed Use - CTL
130 Best Western Pensacola Hospitality
131 Royal Garden Apartments Multifamily
132 CVS Plaza Retail - Anchored
133 Gainesville Courtyard by Marriott Hospitality
134 The Shores Apartments Multifamily
135 Williamsburg Villas Assisted Living
136 Dayton's Bluff Community Care Center Skilled Nursing
137 Kings Plaza Shopping Center Retail - Anchored
138 Circuit City - Cincinnati Retail - CTL
139 Circuit City - Wilkes Barre Retail - CTL
140 College Village Shopping Center Retail - Unanchored
141 Berwyn House Multifamily
142 Shawnee Village Multifamily
143 Sierra Vista Apartments Multifamily
144 Oak Ridge Technical Center IV Office
145 Cedars Executive Center Office
146 Midwest Warehouse Industrial
147 Southington Queen Plaza Retail - Anchored
148 Best Western - Mystic Hospitality
149 Plaza 50 Shopping Center Retail - Anchored
150 Wendover Plaza Shopping Center Retail - Anchored
151 University Roost Apartments Multifamily
152 Olympic Ridge Apartments Multifamily
153 Mountain Creek Park Retail - Anchored
154 2600 Post Road Retail - Unanchored
155 Westgate Plaza Retail - Anchored
156 Country Place II Multifamily
157 Circuit City - Florence Retail - CTL
158 Eagle Crest Apartments Multifamily
159 Edgewater Trace Multifamily
160 Lafayette Green Apartments Multifamily
161 Zinfandel Ranch Apartments Multifamily
162 Cove Village Townhouses Multifamily
163 Mobile Residence Inn Hospitality
164 Village Shopping Center Retail - Anchored
165 Thompson Creek Shopping Center Retail - Unanchored
166 Bally Total Fitness - Cincinnati Health & Fitness - CTL
167 Watchung Commons Retail - Unanchored
168 Giant Eagle Plaza Retail - Anchored
169 Courtyard by Marriott - Mobile Hospitality
170 National Hills Shopping Center Retail - Anchored
171 International Outlet Center Retail - Unanchored
172 Wymberly Pointe Apartments Multifamily
173 Indian Run Multifamily
174 Oak Creek Apartments Multifamily
175 South Coast Center Retail - Anchored
176 The Hampton Inn Hospitality
177 Best Western Airport East Hospitality
<CAPTION>
Initial Current Annual
Deposit Balance Deposit to
to Capital Capital Replacement
Control # Property Name Imp. Reserve Imp. Reserve Reserve *
==============================================================================================================
<S> <C> <C> <C> <C>
125 The 535 Plaza 6,600 6,600 5,907
126 Vanguard Distribution Building 22,188 22,188 33,364
127 Saratoga Holiday Inn 45,531 45,531 120,157
128 Courtyard Sarasota 3,500 3,500 78,623
129 Barnes & Noble, Inc. - Rockleigh 18,341 18,341 -
130 Best Western Pensacola 1,250 1,250 90,175
131 Royal Garden Apartments 211,813 214,653 37,104
132 CVS Plaza - - 29,648
133 Gainesville Courtyard by Marriott - - 73,741
134 The Shores Apartments 396,250 396,019 72,688
135 Williamsburg Villas - - 19,200
136 Dayton's Bluff Community Care Center 250 250 50,325
137 Kings Plaza Shopping Center 1,063 1,063 28,764
138 Circuit City - Cincinnati - - -
139 Circuit City - Wilkes Barre - - -
140 College Village Shopping Center - - 6,874
141 Berwyn House 16,938 16,938 35,376
142 Shawnee Village 11,523 11,523 37,120
143 Sierra Vista Apartments 17,125 17,125 59,500
144 Oak Ridge Technical Center IV - - 8,796
145 Cedars Executive Center 91,750 27,716 33,591
146 Midwest Warehouse - - -
147 Southington Queen Plaza - - 16,071
148 Best Western - Mystic 14,750 14,750 130,164
149 Plaza 50 Shopping Center 124,875 124,875 20,459
150 Wendover Plaza Shopping Center 17,500 17,500 18,789
151 University Roost Apartments 156 156 59,400
152 Olympic Ridge Apartments 114,313 95,899 37,800
153 Mountain Creek Park - - 6,693
154 2600 Post Road - - 4,758
155 Westgate Plaza 12,799 12,799 25,144
156 Country Place II 40,000 40,000 34,560
157 Circuit City - Florence - - -
158 Eagle Crest Apartments 123,750 123,750 66,360
159 Edgewater Trace 42,550 42,550 38,720
160 Lafayette Green Apartments 127,750 127,750 60,000
161 Zinfandel Ranch Apartments 152,900 154,877 34,800
162 Cove Village Townhouses 167,063 167,063 67,275
163 Mobile Residence Inn - - 63,488
164 Village Shopping Center 28,725 28,725 14,259
165 Thompson Creek Shopping Center 5,566 5,566 22,939
166 Bally Total Fitness - Cincinnati 6,250 6,250 -
167 Watchung Commons 1,500 1,500 1,939
168 Giant Eagle Plaza - - -
169 Courtyard by Marriott - Mobile 2,038 2,038 70,634
170 National Hills Shopping Center 4,219 5,829 55,218
171 International Outlet Center 41,844 41,844 6,866
172 Wymberly Pointe Apartments 219,625 144,001 47,844
173 Indian Run 35,625 35,625 40,000
174 Oak Creek Apartments 284,220 226,550 50,976
175 South Coast Center 17,748 17,748 11,386
176 The Hampton Inn - - 82,350
177 Best Western Airport East 22,815 22,815 89,131
<CAPTION>
Current Annual Current As of
Balance Deposit to Balance Date of
Replacement TI/LC TI/LC Reserve
Control # Property Name Reserve Reserve * Reserve Accounts
==============================================================================================================================
<S> <C> <C> <C> <C> <C>
125 The 535 Plaza 2,954 - - 10/22/97
126 Vanguard Distribution Building - - - 10/29/97
127 Saratoga Holiday Inn - - - 10/29/97
128 Courtyard Sarasota 13,109 - - 10/29/97
129 Barnes & Noble, Inc. - Rockleigh - NAP NAP 10/29/97
130 Best Western Pensacola 2,286 - - 10/22/97
131 Royal Garden Apartments 21,761 - - 10/23/97
132 CVS Plaza 7,412 - 10/29/97
133 Gainesville Courtyard by Marriott 12,295 - - 10/29/97
134 The Shores Apartments 14,898 - - 10/23/97
135 Williamsburg Villas - - - 10/29/97
136 Dayton's Bluff Community Care Center 8,388 - - 10/22/97
137 Kings Plaza Shopping Center 20,613 18,612 3,107 10/29/97
138 Circuit City - Cincinnati - NAP NAP 10/29/97
139 Circuit City - Wilkes Barre - NAP NAP 10/29/97
140 College Village Shopping Center - 28,770 - 10/21/97
141 Berwyn House 2,948 - - 10/22/97
142 Shawnee Village 6,197 - - 10/29/97
143 Sierra Vista Apartments 14,905 - - 10/21/97
144 Oak Ridge Technical Center IV 733 27,132 52,261 10/29/97
145 Cedars Executive Center 14,110 - 6,375 10/29/97
146 Midwest Warehouse - - - 10/29/97
147 Southington Queen Plaza 5,361 46,373 15,470 10/29/97
148 Best Western - Mystic - - - 10/29/97
149 Plaza 50 Shopping Center 1,705 - - 10/29/97
150 Wendover Plaza Shopping Center 3,134 - - 10/29/97
151 University Roost Apartments - - - 10/21/97
152 Olympic Ridge Apartments 15,750 - - 10/29/97
153 Mountain Creek Park 2,232 - - 10/29/97
154 2600 Post Road 2,511 11,425 2,776 10/29/97
155 Westgate Plaza 4,194 18,960 1,580 10/29/97
156 Country Place II 5,779 - - 10/29/97
157 Circuit City - Florence - NAP NAP 10/29/97
158 Eagle Crest Apartments 11,069 - - 10/29/97
159 Edgewater Trace - - - 10/29/97
160 Lafayette Green Apartments 65,000 - - 10/29/97
161 Zinfandel Ranch Apartments 11,600 - 6,162 10/29/97(10)
162 Cove Village Townhouses 11,228 - - 10/29/97
163 Mobile Residence Inn 10,581 - - 10/29/97
164 Village Shopping Center 1,188 - 108,647 10/29/97(11)
165 Thompson Creek Shopping Center 1,912 44,608 3,717 10/1/97
166 Bally Total Fitness - Cincinnati - NAP NAP 10/29/97
167 Watchung Commons 162 - - 10/29/97
168 Giant Eagle Plaza - - - 10/29/97
169 Courtyard by Marriott - Mobile 29,431 - - 10/29/97
170 National Hills Shopping Center 7,600 25,320 2,110 10/29/97
171 International Outlet Center 2,884 26,371 8,790 10/22/97
172 Wymberly Pointe Apartments 9,268 - - 10/23/97
173 Indian Run 13,342 - - 10/29/97
174 Oak Creek Apartments 12,744 - - 10/29/97
175 South Coast Center - 32,016 - 10/29/97
176 The Hampton Inn 6,863 - - 10/22/97
177 Best Western Airport East 14,883 - - 10/29/97
<PAGE>
<CAPTION>
Control # Property Name Property Type
===============================================================================================
<S> <C> <C>
178 Evergreen Office Center Office
179 Oak Ridge Technical Center VI Office
180 Auburn Chase Apartments Multifamily
181 Foxwood I & II Apartments Multifamily
182 Radisson Suite Hotel Hospitality
183 Hunters Glen Multifamily
184 Sunset International Office
185 Bally Total Fitness - Greenwood Health & Fitness - CTL
186 Fort Myers Residence Inn by Marriott Hospitality
187 Moberly Manor Multifamily
188 Lakeway Plaza I Retail - Unanchored
189 Lakeway Plaza II Retail - Unanchored
190 Custer Park Shopping Center Retail - Unanchored
191 Sovereign Multifamily
192 Corporate Park at Kendall Office
193 Canwood Business Park Office
194 Preston Luther Center Retail - Unanchored
195 Huntington Circle Multifamily
196 Bally Total Fitness - Indianapolis Health & Fitness - CTL
197 Planters Walk Shopping Center Retail - Anchored
198 Market Square Shopping Center Retail - Anchored
199 812 San Antonio Street Office
200 Colombus West Park Nursing & Rehabilitation Center Skilled Nursing
201 Nassau Eden Club Apartments Multifamily
202 Texas Melody Multifamily - Section 42
203 Willow Garden Apartments Multifamily
204 Best Western Crabtree Hospitality
205 3720-3740 Main Street Retail - Anchored
206 Two Edison Lakes Office
207 Ocean State Plaza Retail - Unanchored
208 Meadows at Central Retail - Unanchored
209 Belmont Plaza Retirement Center Congregate Care
210 1227 Commonwealth Avenue Retail - Unanchored
211 Loehmann's Plaza Retail - Anchored
212 Hopkins Tech Center Industrial
213 Mariner's Point Office
214 4401 Barclay Downs Office
215 Lake Hickory Plaza Shopping Center Retail - Anchored
216 15625 Kendall Drive Retail - Anchored
217 Holiday Inn - Dalton Hospitality
218 Chase Ridge Multifamily
219 Wymberly Crossing Apartments Multifamily
220 Harwood Village North Retail - Anchored
221 Town & Country Villas Multifamily
222 The Shops at Washington Point Retail - Anchored
223 Danville Plaza Retail - Anchored
224 Tarmac-Sentara Building Office
225 Four Seasons Apartments Multifamily
226 Countrywood East Multifamily
227 Sierra Vista Business Park Office
228 Walgreen Company - San Francisco Retail - CTL
229 Misty Ridge Apartments Multifamily
230 Woodward Bluffs Mobile Home Park Mobile Home Park
<CAPTION>
Initial Current Annual
Deposit Balance Deposit to
to Capital Capital Replacement
Control # Property Name Imp. Reserve Imp. Reserve Reserve *
===================================================================================================================
<S> <C> <C> <C> <C>
178 Evergreen Office Center - - 8,240
179 Oak Ridge Technical Center VI 733 - 8,160
180 Auburn Chase Apartments 748,080 642,192 56,844
181 Foxwood I & II Apartments 74,200 62,652 52,620
182 Radisson Suite Hotel 12,813 12,813 142,562
183 Hunters Glen 71,394 71,394 26,600
184 Sunset International - - 18,612
185 Bally Total Fitness - Greenwood 10,625 10,625 -
186 Fort Myers Residence Inn by Marriott - - 67,698
187 Moberly Manor 938 938 29,581
188 Lakeway Plaza I 45,344 45,344 12,788
189 Lakeway Plaza II - - -
190 Custer Park Shopping Center 22,938 22,938 20,994
191 Sovereign 3,125 3,125 29,982
192 Corporate Park at Kendall - - 7,248
193 Canwood Business Park - - 14,886
194 Preston Luther Center 11,250 11,250 7,833
195 Huntington Circle 36,438 36,438 28,350
196 Bally Total Fitness - Indianapolis 6,438 6,438 -
197 Planters Walk Shopping Center 12,750 12,750 22,322
198 Market Square Shopping Center - - 17,448
199 812 San Antonio Street 105,719 107,528 16,402
200 Colombus West Park Nursing & Rehabilitation Center 7,013 7,013 25,000
201 Nassau Eden Club Apartments 25,875 25,875 20,169
202 Texas Melody - - 51,400
203 Willow Garden Apartments 6,875 6,875 44,004
204 Best Western Crabtree - - 56,299
205 3720-3740 Main Street - - 1,200
206 Two Edison Lakes 1,250 1,250 6,043
207 Ocean State Plaza - - 10,299
208 Meadows at Central 1,688 1,688 8,775
209 Belmont Plaza Retirement Center 6,625 6,625 27,675
210 1227 Commonwealth Avenue 2,875 2,875 5,550
211 Loehmann's Plaza - - 2,500
212 Hopkins Tech Center 6,500 6,500 51,746
213 Mariner's Point - - 8,211
214 4401 Barclay Downs 43,625 43,625 9,407
215 Lake Hickory Plaza Shopping Center 13,750 13,750 8,306
216 15625 Kendall Drive 2,000 2,000 5,504
217 Holiday Inn - Dalton 94,904 94,904 140,150
218 Chase Ridge 85,000 12,214 50,740
219 Wymberly Crossing Apartments 339,125 339,125 55,120
220 Harwood Village North 62,500 - 12,893
221 Town & Country Villas 186,090 111,400 28,137
222 The Shops at Washington Point - - 4,520
223 Danville Plaza 195,875 195,875 14,234
224 Tarmac-Sentara Building - - 7,854
225 Four Seasons Apartments 21,562 21,563 22,275
226 Countrywood East 24,500 24,500 44,352
227 Sierra Vista Business Park 3,750 3,750 22,628
228 Walgreen Company - San Francisco - - 1,563
229 Misty Ridge Apartments - - 30,800
230 Woodward Bluffs Mobile Home Park - - 5,915
<CAPTION>
Current Annual Current As of
Balance Deposit to Balance Date of
Replacement TI/LC TI/LC Reserve
Control # Property Name Reserve Reserve * Reserve Accounts
=================================================================================================================================
<S> <C> <C> <C> <C> <C>
178 Evergreen Office Center 2,448 64,075 10,516 10/21/97
179 Oak Ridge Technical Center VI 680 24,588 52,049 10/29/97
180 Auburn Chase Apartments 33,430 - - 10/31/97
181 Foxwood I & II Apartments 30,947 - - 10/31/97
182 Radisson Suite Hotel 11,887 - - 10/29/97
183 Hunters Glen 6,657 - - 10/29/97
184 Sunset International 7,782 25,000 10,452 10/29/97
185 Bally Total Fitness - Greenwood - NAP NAP 10/29/97
186 Fort Myers Residence Inn by Marriott 11,288 - - 10/29/97
187 Moberly Manor - - - 10/29/97
188 Lakeway Plaza I 3,197 34,900 8,522 10/29/97
189 Lakeway Plaza II - - - 10/29/97
190 Custer Park Shopping Center 3,502 24,000 64,000 10/29/97(12)
191 Sovereign 2,499 - - 10/29/97
192 Corporate Park at Kendall - 10,872 - 10/29/97
193 Canwood Business Park 3,729 98,173 114,100 10/23/97(13)
194 Preston Luther Center 1,959 29,304 7,333 10/29/97
195 Huntington Circle - - - 10/29/97
196 Bally Total Fitness - Indianapolis - NAP NAP 10/29/97
197 Planters Walk Shopping Center 7,441 46,500 16,806 10/29/97
198 Market Square Shopping Center 8,947 20,004 6,668 10/29/97
199 812 San Antonio Street 16,824 39,879 6,657 10/29/97
200 Colombus West Park Nursing & Rehabilitation Center 4,170 - - 10/29/97
201 Nassau Eden Club Apartments - - - 10/22/97
202 Texas Melody - - - 10/29/97
203 Willow Garden Apartments 7,340 - - 10/29/97
204 Best Western Crabtree - - - 10/29/97
205 3720-3740 Main Street 603 - 607,750 10/23/97(14)
206 Two Edison Lakes 504 30,000 5,000 10/29/97
207 Ocean State Plaza - 24,000 200,279 10/29/97(15)
208 Meadows at Central 731 29,856 2,488 10/22/97
209 Belmont Plaza Retirement Center - - - 10/29/97
210 1227 Commonwealth Avenue 926 111,996 9,333 10/29/97
211 Loehmann's Plaza 625 - - 10/29/97
212 Hopkins Tech Center - 61,661 - 10/21/97
213 Mariner's Point 1,369 18,000 3,002 10/29/97
214 4401 Barclay Downs 1,568 50,000 8,333 10/29/97
215 Lake Hickory Plaza Shopping Center 1,385 - - 10/29/97
216 15625 Kendall Drive 459 - 10/29/97
217 Holiday Inn - Dalton 35,082 - - 10/29/97
218 Chase Ridge 12,696 - - 10/29/97
219 Wymberly Crossing Apartments 10,131 - - 10/23/97
220 Harwood Village North 5,370 - - 10/29/97
221 Town & Country Villas 7,034 - - 10/29/97
222 The Shops at Washington Point 9,040 - - 10/21/97
223 Danville Plaza 2,372 - 350,000 10/29/97(16)
224 Tarmac-Sentara Building 654 50,979 8,503 9/30/97
225 Four Seasons Apartments 1,856 - 48,405 10/29/97(17)
226 Countrywood East 7,397 - - 10/29/97
227 Sierra Vista Business Park 11,325 - - 10/29/97
228 Walgreen Company - San Francisco - NAP NAP 10/29/97
229 Misty Ridge Apartments 7,708 - - 10/29/97
230 Woodward Bluffs Mobile Home Park - - 150,000 10/29/97(18)
<PAGE>
<CAPTION>
Control # Property Name Property Type
===============================================================================================
<S> <C> <C>
231 Mallards Landing Apartments Multifamily
232 Huntington Oaks Plaza Retail - Anchored
233 Colony Apartments Multifamily
234 Essex Shopping Center Retail - Unanchored
235 3400 West 86th Street Retail - Anchored
236 Oak Ridge Technical Center II Office
237 CH2M Hill Office
238 Best Western - Keene Hospitality
239 Marriott Fairfield Inn Hospitality
240 Tysons Plaza Retail Center Retail - Unanchored
241 Holiday Inn College Station Hospitality
242 Circuit City - Muncy Retail - CTL
243 Porterwood Apartments Multifamily
244 Designer Shoe Warehouse Retail - Anchored
245 Eastgate Shopping Center Retail - Anchored
246 8180 NW 36th Street Office
247 3300 Holcomb Bridge Road Office
248 84 Business Park Office
249 Apple Creek Multifamily
250 Day Hill Village Shoppes Retail - Unanchored
251 Cedar Pointe Apartments Multifamily
252 Lockworks Square Shopping Center Retail - Unanchored
253 Coliseum Self Storage Self Storage
254 Mission Center Retail - Unanchored
255 Ramada Inn - Bedford Hospitality
256 Clearlake Shopping Center Retail - Anchored
257 Westgate Hills Multifamily - Section 42
258 Wheaton Square Apartments Multifamily
259 Ridgeview Multifamily - Section 42
260 North Park Plaza Retail - Anchored
261 South Oak SC Retail - Anchored
262 Homelife Center Retail - Unanchored
263 Highpoint Village Shopping Center Retail - Unanchored
264 Wexford Square Apartments Multifamily
265 Shoppes of Cooper City Retail - Unanchored
266 Pep Boys - Miami Ground Lease - CTL
267 Willow Glenn Apartments Multifamily
268 Hempstead Road Apartments Multifamily
269 Confederate Ridge Apartments Multifamily
270 Auto/Retail (2450 S. Military Trail) Retail - Unanchored
271 Wood Creek Apartments Multifamily
272 Latimer Brook Commons S.C. Retail - Unanchored
273 Nob Hill Apartments Multifamily
274 Oak Ridge Technical Center I Office
275 Capital Plaza Retail - Unanchored
276 Mountain Park Square Retail - Unanchored
277 St. Mary's Skilled Nursing
278 Tuscany Apartments Multifamily
279 Lakeview Apartments Multifamily
280 Devonshire Shopping Center Retail - Anchored
281 Georgetown Apartments Multifamily
282 Shamrock Park Apartments Multifamily
283 Thrifty-Payless - Corona del Mar Retail - CTL
<CAPTION>
Initial Current Annual
Deposit Balance Deposit to
to Capital Capital Replacement
Control # Property Name Imp. Reserve Imp. Reserve Reserve *
==============================================================================================================
<S> <C> <C> <C> <C>
231 Mallards Landing Apartments 27,438 27,438 50,004
232 Huntington Oaks Plaza 7,600 7,600 15,673
233 Colony Apartments 108,534 33,576 46,596
234 Essex Shopping Center 36,500 36,500 15,717
235 3400 West 86th Street 30,000 - 3,000
236 Oak Ridge Technical Center II - - 6,132
237 CH2M Hill - - 4,677
238 Best Western - Keene 40,800 40,800 126,589
239 Marriott Fairfield Inn - - 47,289
240 Tysons Plaza Retail Center - - 5,160
241 Holiday Inn College Station 4,813 4,813 66,470
242 Circuit City - Muncy - - -
243 Porterwood Apartments 85,665 20,420 43,656
244 Designer Shoe Warehouse - - 2,500
245 Eastgate Shopping Center 7,813 7,813 13,355
246 8180 NW 36th Street 58,500 9,000 8,922
247 3300 Holcomb Bridge Road 1,750 1,750 10,410
248 84 Business Park 3,125 3,125 9,264
249 Apple Creek 15,844 15,844 28,531
250 Day Hill Village Shoppes - - -
251 Cedar Pointe Apartments 375 - 31,824
252 Lockworks Square Shopping Center - - 6,273
253 Coliseum Self Storage - - 13,106
254 Mission Center 6,250 - 6,084
255 Ramada Inn - Bedford 28,188 28,188 96,862
256 Clearlake Shopping Center 1,875 1,875 14,390
257 Westgate Hills 319,938 319,938 69,856
258 Wheaton Square Apartments 24,750 24,750 18,112
259 Ridgeview - - 11,850
260 North Park Plaza - - 9,000
261 South Oak SC - - 7,000
262 Homelife Center - - 5,666
263 Highpoint Village Shopping Center - - 5,700
264 Wexford Square Apartments 55,000 15,106 31,050
265 Shoppes of Cooper City 2,250 2,250 4,327
266 Pep Boys - Miami - - -
267 Willow Glenn Apartments 28,971 28,971 26,232
268 Hempstead Road Apartments 39,616 39,616 24,210
269 Confederate Ridge Apartments 167,200 170,280 58,644
270 Auto/Retail (2450 S. Military Trail) 1,250 1,250 4,577
271 Wood Creek Apartments 16,250 16,250 41,760
272 Latimer Brook Commons S.C. - - 6,081
273 Nob Hill Apartments 30,562 - 19,800
274 Oak Ridge Technical Center I - - 5,268
275 Capital Plaza 30,063 30,063 10,354
276 Mountain Park Square - - 6,688
277 St. Mary's 250 - 26,125
278 Tuscany Apartments - - -
279 Lakeview Apartments 50,375 50,375 21,600
280 Devonshire Shopping Center 1,991 1,991 7,490
281 Georgetown Apartments 40,875 40,875 37,209
282 Shamrock Park Apartments - - 24,288
283 Thrifty-Payless - Corona del Mar - - 1,434
<CAPTION>
Current Annual Current As of
Balance Deposit to Balance Date of
Replacement TI/LC TI/LC Reserve
Control # Property Name Reserve Reserve * Reserve Accounts
================================================================================================================================
<S> <C> <C> <C> <C> <C>
231 Mallards Landing Apartments - - - 10/22/97
232 Huntington Oaks Plaza 1,306 16,605 1,384 10/29/97
233 Colony Apartments 15,960 - - 10/31/97
234 Essex Shopping Center 2,619 43,885 3,657 10/22/97
235 3400 West 86th Street 250 - - 10/29/97
236 Oak Ridge Technical Center II 511 18,312 51,526 10/29/97
237 CH2M Hill - 30,000 200,000 10/29/97
238 Best Western - Keene - - - 10/29/97
239 Marriott Fairfield Inn 3,941 - - 10/29/97
240 Tysons Plaza Retail Center 430 23,803 1,984 10/7/97
241 Holiday Inn College Station 11,105 - - 10/29/97
242 Circuit City - Muncy - NAP NAP 10/29/97
243 Porterwood Apartments 22,776 - - 10/31/97
244 Designer Shoe Warehouse - 10,000 - 10/29/97
245 Eastgate Shopping Center 1,113 - - 10/29/97
246 8180 NW 36th Street 6,544 12,512 2,083 10/29/97
247 3300 Holcomb Bridge Road 868 60,000 5,000 10/29/97
248 84 Business Park - 52,493 - 9/24/97
249 Apple Creek 4,758 - - 10/29/97
250 Day Hill Village Shoppes - 21,300 101,332 10/29/97(19)
251 Cedar Pointe Apartments 7,956 - - 10/29/97
252 Lockworks Square Shopping Center 2,207 3,485 871 10/29/97
253 Coliseum Self Storage 1,092 - - 10/29/97
254 Mission Center 4,660 28,248 - 10/29/97
255 Ramada Inn - Bedford - - - 10/29/97
256 Clearlake Shopping Center 1,199 18,964 1,580 10/29/97
257 Westgate Hills - - - 10/29/97
258 Wheaton Square Apartments 1,509 - - 10/22/97
259 Ridgeview - - - 10/29/97
260 North Park Plaza 3,010 23,364 199,686 10/21/97(20)
261 South Oak SC 1,167 - - 10/29/97
262 Homelife Center - - - 10/29/97
263 Highpoint Village Shopping Center 955 18,000 3,000 10/29/97
264 Wexford Square Apartments 7,778 - - 10/22/97
265 Shoppes of Cooper City 2,165 10,000 10,000 10/29/97
266 Pep Boys - Miami - NAP NAP 10/29/97
267 Willow Glenn Apartments 2,186 - - 10/29/97
268 Hempstead Road Apartments 8,070 - - 10/29/97
269 Confederate Ridge Apartments 59,949 - - 10/31/97
270 Auto/Retail (2450 S. Military Trail) 381 15,990 - 10/29/97
271 Wood Creek Apartments 10,451 - - 10/29/97
272 Latimer Brook Commons S.C. 2,311 3,378 845 10/29/97
273 Nob Hill Apartments 9,838 - - 10/29/97
274 Oak Ridge Technical Center I 439 15,876 51,323 10/29/97
275 Capital Plaza 4,314 - - 10/29/97
276 Mountain Park Square - - 8,400 10/29/97
277 St. Mary's 4,354 - - 10/22/97
278 Tuscany Apartments 16,721 - - 10/23/97
279 Lakeview Apartments 1,800 - - 10/29/97
280 Devonshire Shopping Center - 18,648 - 10/21/97
281 Georgetown Apartments 3,100 - - 10/29/97
282 Shamrock Park Apartments 2,024 - - 10/21/97
283 Thrifty-Payless - Corona del Mar 120 NAP NAP 10/29/97
<PAGE>
<CAPTION>
Control # Property Name Property Type
==========================================================================================
<S> <C> <C>
284 Walgreen - Weston Retail - CTL
285 Summit at Woodhaven Apartments Multifamily
286 MCL Center Retail - Unanchored
287 Hibiscus Center Retail - Unanchored
288 Towers Garden Apartments Multifamily
289 Greenbriar Plaza Shopping Center Retail - Unanchored
290 Point Place II Office
291 Babcock Multifamily
292 Stoneridge Apartments Multifamily
293 Rivers Edge Business Park Industrial
294 Summit Multifamily
295 2105-2109 First Avenue Multifamily
296 North Pointe Plaza Shopping Center Retail - Anchored
297 French Quarter Apartments Multifamily
298 Rite-Aid - Bay City Retail - CTL
299 Coral Gardens Multifamily - Section 42
300 Sherwood Arms Apartments Multifamily
301 Irongate Village Shopping Center Retail - Anchored
302 Conway Club Apartments Multifamily
303 Rite-Aid - Essexville Retail - CTL
304 Golden Age Four and Taylor Skilled Nursing
304a Taylor County Health Care Center Skilled Nursing
304b Four County Health Care Center Skilled Nursing
305 Mission Station Multifamily
306 El Mercado Apartments Multifamily
307 Greentree Multifamily - Section 42
308 Santa Rosa Plaza Shopping Center Retail - Anchored
309 The Hermitage Multifamily
310 A Rite-Aid Pharmacy - Manhattan Blvd. Retail - CTL
311 Fowler Plaza Retail - Unanchored
312 Countrywood Village Multifamily
313 Sun Club Apartments Multifamily
314 A Rite-Aid Pharmacy - Sylvania Ave. Retail - CTL
315 Queensbury Multifamily
316 Colonial Village Multifamily
317 54 South Commerce Way Office
318 Mac Frugal's Plaza Retail - Anchored
319 1250 South Vermont Avenue Retail - Unanchored
320 Hilltop Manor Multifamily
321 Commerce Center Office
322 Lakecrest Shopping Center Retail - Unanchored
323 Bridgestone Apartments Multifamily
324 Rite-Aid - Jenison Retail - CTL
325 A Rite-Aid Pharmacy - Main Street Retail - CTL
326 First Union National Bank Building Office
327 Auto/Retail (2501 Sample Road) Retail - Unanchored
328 Rite-Aid - Wilkes-Barre Retail - CTL
329 Villa Gardens Apartments Multifamily
330 Rite-Aid - Cleveland Retail - CTL
331 Holiday Inn & Suites Hospitality
332 Rancho San Manuel Mobile Home Park Mobile Home Park
<CAPTION>
Initial Current Annual
Deposit Balance Deposit to
to Capital Capital Replacement
Control # Property Name Imp. Reserve Imp. Reserve Reserve *
============================================================================================================
<S> <C> <C> <C> <C>
284 Walgreen - Weston - - 3,186
285 Summit at Woodhaven Apartments 2,251 2,251 36,864
286 MCL Center 7,369 7,369 2,503
287 Hibiscus Center - - 6,884
288 Towers Garden Apartments 66,250 66,250 36,108
289 Greenbriar Plaza Shopping Center 6,938 6,938 29,721
290 Point Place II 3,125 3,129 17,223
291 Babcock 38,423 38,423 16,492
292 Stoneridge Apartments 84,643 84,643 23,800
293 Rivers Edge Business Park 24,888 24,888 6,888
294 Summit 81,351 81,351 41,144
295 2105-2109 First Avenue 24,113 24,113 20,841
296 North Pointe Plaza Shopping Center 40,563 40,563 13,068
297 French Quarter Apartments 12,500 12,500 10,800
298 Rite-Aid - Bay City - - 3,354
299 Coral Gardens - - 17,700
300 Sherwood Arms Apartments 30,688 30,688 39,935
301 Irongate Village Shopping Center 115,500 116,020 10,992
302 Conway Club Apartments - - 19,608
303 Rite-Aid - Essexville 250 250 3,354
304 Golden Age Four and Taylor 4,000 4,000 -
--------------------------------------------
304a Taylor County Health Care Center NAV NAV -
304b Four County Health Care Center NAV NAV -
305 Mission Station 22,250 22,250 20,592
306 El Mercado Apartments 17,250 17,250 29,748
307 Greentree 8,250 8,250 24,800
308 Santa Rosa Plaza Shopping Center - - 9,581
309 The Hermitage 4,652 4,652 15,828
310 A Rite-Aid Pharmacy - Manhattan Blvd. - - 2,796
311 Fowler Plaza 15,125 15,125 4,099
312 Countrywood Village 50,688 50,688 36,704
313 Sun Club Apartments 10,800 10,800 32,000
314 A Rite-Aid Pharmacy - Sylvania Ave. - - 2,796
315 Queensbury 19,370 19,370 14,688
316 Colonial Village 11,841 11,841 22,523
317 54 South Commerce Way 18,507 18,507 4,428
318 Mac Frugal's Plaza 4,435 4,435 7,800
319 1250 South Vermont Avenue - - 1,922
320 Hilltop Manor 14,588 14,588 37,250
321 Commerce Center 32,250 10,150 13,824
322 Lakecrest Shopping Center 45,625 11,200 12,084
323 Bridgestone Apartments - - 15,018
324 Rite-Aid - Jenison 250 250 3,354
325 A Rite-Aid Pharmacy - Main Street - - 2,796
326 First Union National Bank Building - - 15,463
327 Auto/Retail (2501 Sample Road) 3,250 3,250 3,197
328 Rite-Aid - Wilkes-Barre - - 3,150
329 Villa Gardens Apartments 4,875 4,875 26,000
330 Rite-Aid - Cleveland - - 1,133
331 Holiday Inn & Suites 55,500 56,020 82,350
332 Rancho San Manuel Mobile Home Park 4,375 4,375 8,775
<CAPTION>
Current Annual Current As of
Balance Deposit to Balance Date of
Replacement TI/LC TI/LC Reserve
Control # Property Name Reserve Reserve * Reserve Accounts
=================================================================================================================================
<S> <C> <C> <C> <C> <C>
284 Walgreen - Weston - NAP NAP 10/29/97
285 Summit at Woodhaven Apartments 9,216 - - 10/22/97
286 MCL Center 417 - - 10/29/97
287 Hibiscus Center - 29,767 - 10/22/97
288 Towers Garden Apartments 6,018 - - 10/22/97
289 Greenbriar Plaza Shopping Center 4,959 46,147 7,700 10/21/97
290 Point Place II 4,306 24,000 81,108 10/23/97
291 Babcock 6,872 - - 10/29/97
292 Stoneridge Apartments 5,956 - - 10/29/97
293 Rivers Edge Business Park 1,149 - 37,500 10/29/97
294 Summit 6,858 - - 10/29/97
295 2105-2109 First Avenue - - 9,807 10/29/97(21)
296 North Pointe Plaza Shopping Center 1,089 35,366 2,973 10/6/97
297 French Quarter Apartments 62,250 - - 10/29/97
298 Rite-Aid - Bay City 1,118 NAP NAP 10/29/97
299 Coral Gardens 2,960 - - 10/29/97
300 Sherwood Arms Apartments 6,656 - - 10/22/97
301 Irongate Village Shopping Center 3,664 15,948 1,329 10/22/97
302 Conway Club Apartments 107,044 - - 10/22/97
303 Rite-Aid - Essexville 1,677 NAP NAP 10/29/97
304 Golden Age Four and Taylor - - - 10/29/97
----------------------------------------------
304a Taylor County Health Care Center - - - 10/29/97
304b Four County Health Care Center - - - 10/29/97
305 Mission Station 1,716 - - 10/29/97
306 El Mercado Apartments 2,479 - - 10/29/97
307 Greentree 8,276 - 10/29/97
308 Santa Rosa Plaza Shopping Center 4,794 15,137 1,261 10/29/97
309 The Hermitage 56,375 - - 8/27/97
310 A Rite-Aid Pharmacy - Manhattan Blvd. 233 NAP NAP 10/29/97
311 Fowler Plaza 342 - - 10/29/97
312 Countrywood Village 6,122 - - 10/29/97
313 Sun Club Apartments 10,690 - - 10/29/97
314 A Rite-Aid Pharmacy - Sylvania Ave. 466 NAP NAP 10/29/97
315 Queensbury 2,448 - - 10/29/97
316 Colonial Village 3,754 - - 10/29/97
317 54 South Commerce Way - 18,080 - 10/22/97
318 Mac Frugal's Plaza - 48,532 - 10/21/97
319 1250 South Vermont Avenue 482 10,310 2,583 10/21/97
320 Hilltop Manor 12,431 - - 10/29/97
321 Commerce Center 4,608 26,808 8,936 10/22/97
322 Lakecrest Shopping Center 6,075 - - 10/29/97
323 Bridgestone Apartments - - - 10/29/97
324 Rite-Aid - Jenison NAP NAP 10/29/97
325 A Rite-Aid Pharmacy - Main Street 233 NAP NAP 10/29/97
326 First Union National Bank Building 2,581 - - 10/29/97
327 Auto/Retail (2501 Sample Road) 266 6,823 - 10/29/97
328 Rite-Aid - Wilkes-Barre 525 NAP NAP 10/29/97
329 Villa Gardens Apartments 6,500 - - 10/29/97
330 Rite-Aid - Cleveland 852 NAP NAP 10/29/97
331 Holiday Inn & Suites 44,255 - - 10/24/97
332 Rancho San Manuel Mobile Home Park 731 - - 10/21/97
<PAGE>
<CAPTION>
Control # Property Name Property Type
===============================================================================================
<S> <C> <C>
333 Moonlight Townhomes Multifamily - Section 42
334 Rite-Aid - Saginaw Retail - CTL
335 Willow Park Apartments Multifamily
336 Rite-Aid - Cartersville Retail - CTL
337 Crestwood Apartments Multifamily
338 French Embassy Apartments Multifamily
339 Beehive Retirement Center Assisted Living
340 Rite-Aid - West Branch Retail - CTL
341 Dairy Ashford Village Retail - Unanchored
342 Rite-Aid - Liberty Township Retail - CTL
343 Eckerd - Stockton Retail - CTL
344 Englewood Apartments Multifamily
345 The Meadows Multifamily
346 Rite-Aid - Ashtabula (2) Retail - CTL
347 Revco - Norfolk (2) Retail - CTL
348 Rite-Aid - Jefferson Retail - CTL
349 Rite-Aid - Ashtabula (1) Retail - CTL
350 Gardens of Victoria Apartments Multifamily
351 Woodland Terrace Apartments Multifamily
352 Eckerd - Oneco Retail - CTL
353 Franklin Row Mixed Use
354 Southwood Village Shopping Center Retail - Anchored
355 Super Crown Bookstore Retail - Anchored
356 Su Casa Multifamily
357 Buckner Square Office Park Office
358 Allen's Creek Center Retail - Unanchored
359 Revco - Norfolk (1) Retail - CTL
360 River Village Shopping Center Retail - Unanchored
361 Eckerd - Monroe Retail - CTL
362 Revco - Dundalk Retail - CTL
363 Northridge & Quail Hollow Apartments Multifamily
364 Eckerd - Sharpsburg Retail - CTL
365 Rite-Aid - Barnegat Twp., Ocean County, Retail - CTL
366 Comfort Inn - Elkton Hospitality
367 McKellips Shopping Center Retail - Unanchored
368 Trinity Oaks Shopping Center Retail - Anchored
369 Holbrook Plaza Shopping Center Retail - Anchored
370 Carob Tree Apartments Multifamily
371 Sentinel Square Retail - Anchored
372 Eckerd - Lady Lake Retail - CTL
373 Oakwood Homes Multifamily - Section 42
374 Southwest Oaks Apartments Multifamily
375 Crystal Glen Multifamily
376 Ocean Mews Multifamily
377 Rite-Aid - Newton Falls Retail - CTL
378 Camden Corners Shopping Center Retail - Anchored
379 Silverfield Condominiums Multifamily
380 901 Alton Road Retail - Unanchored
381 Alfa-Laval Separators, Inc. Industrial
382 Revco - Portsmouth (2) Retail - CTL
383 151-169 Nagle Avenue Multifamily
384 Rite-Aid - Perry Retail - CTL
385 Revco - Virginia Beach Retail - CTL
<CAPTION>
Initial Current Annual
Deposit Balance Deposit to
to Capital Capital Replacement
Control # Property Name Imp. Reserve Imp. Reserve Reserve *
==============================================================================================================
<S> <C> <C> <C> <C>
333 Moonlight Townhomes - - 9,975
334 Rite-Aid - Saginaw 250 250 3,354
335 Willow Park Apartments 23,750 23,750 23,279
336 Rite-Aid - Cartersville - - 1,699
337 Crestwood Apartments 8,413 8,413 37,128
338 French Embassy Apartments 46,330 46,330 29,820
339 Beehive Retirement Center 16,600 16,600 5,160
340 Rite-Aid - West Branch - - 3,354
341 Dairy Ashford Village 19,915 1,948 4,380
342 Rite-Aid - Liberty Township - - 1,133
343 Eckerd - Stockton - - -
344 Englewood Apartments 90,116 90,116 43,450
345 The Meadows 15,076 15,076 44,000
346 Rite-Aid - Ashtabula (2) - - 1,133
347 Revco - Norfolk (2) - - -
348 Rite-Aid - Jefferson - - 1,133
349 Rite-Aid - Ashtabula (1) - - 1,133
350 Gardens of Victoria Apartments 35,625 21,585 17,622
351 Woodland Terrace Apartments 7,563 7,563 17,391
352 Eckerd - Oneco - - -
353 Franklin Row 31,601 31,601 1,336
354 Southwood Village Shopping Center 6,250 6,250 11,667
355 Super Crown Bookstore - - 1,835
356 Su Casa 5,458 5,458 18,744
357 Buckner Square Office Park - - 13,428
358 Allen's Creek Center 3,100 3,100 6,564
359 Revco - Norfolk (1) - - -
360 River Village Shopping Center - - 3,285
361 Eckerd - Monroe - - -
362 Revco - Dundalk - - -
363 Northridge & Quail Hollow Apartments 9,083 9,083 16,452
364 Eckerd - Sharpsburg - - 2,182
365 Rite-Aid - Barnegat Twp., Ocean County, - - 1,021
366 Comfort Inn - Elkton - - 31,031
367 McKellips Shopping Center - - 10,930
368 Trinity Oaks Shopping Center 19,188 19,188 4,932
369 Holbrook Plaza Shopping Center 59,569 27,434 15,582
370 Carob Tree Apartments 3,563 3,563 34,250
371 Sentinel Square - - 2,731
372 Eckerd - Lady Lake - - -
373 Oakwood Homes - - 11,025
374 Southwest Oaks Apartments 65,750 65,750 29,664
375 Crystal Glen 10,375 - 14,976
376 Ocean Mews 35,000 - 10,752
377 Rite-Aid - Newton Falls - - 1,133
378 Camden Corners Shopping Center 5,125 5,125 3,938
379 Silverfield Condominiums - - 21,160
380 901 Alton Road - - 1,450
381 Alfa-Laval Separators, Inc. - - 4,000
382 Revco - Portsmouth (2) - - -
383 151-169 Nagle Avenue 6,250 6,250 14,905
384 Rite-Aid - Perry - - 1,440
385 Revco - Virginia Beach - - 1,608
<CAPTION>
Current Annual Current As of
Balance Deposit to Balance Date of
Replacement TI/LC TI/LC Reserve
Control # Property Name Reserve Reserve * Reserve Accounts
=================================================================================================================================
<S> <C> <C> <C> <C> <C>
333 Moonlight Townhomes 1,665 - - 10/29/97
334 Rite-Aid - Saginaw 839 NAP NAP 10/29/97
335 Willow Park Apartments 3,880 - - 10/22/97
336 Rite-Aid - Cartersville 1,278 NAP NAP 10/29/97
337 Crestwood Apartments - - - 10/21/97
338 French Embassy Apartments 4,975 - - 10/21/97
339 Beehive Retirement Center 3,901 - - 10/29/97
340 Rite-Aid - West Branch 839 NAP NAP 10/29/97
341 Dairy Ashford Village 111,883 19,000 145,041 10/29/97(22)
342 Rite-Aid - Liberty Township 947 NAP NAP 10/29/97
343 Eckerd - Stockton - NAP NAP 10/29/97
344 Englewood Apartments 7,249 - - 10/21/97
345 The Meadows 11,000 - - 10/22/97
346 Rite-Aid - Ashtabula (2) 947 NAP NAP 10/29/97
347 Revco - Norfolk (2) - NAP NAP 10/29/97
348 Rite-Aid - Jefferson 947 NAP NAP 10/29/97
349 Rite-Aid - Ashtabula (1) 947 NAP NAP 10/29/97
350 Gardens of Victoria Apartments 14,408 - - 10/29/97
351 Woodland Terrace Apartments 9,312 - - 10/29/97
352 Eckerd - Oneco - NAP NAP 10/29/97
353 Franklin Row 111 - - 10/29/97
354 Southwood Village Shopping Center 972 - - 10/29/97
355 Super Crown Bookstore 306 - - 10/29/97
356 Su Casa 6,259 - - 10/22/97
357 Buckner Square Office Park - 31,200 - 10/22/97
358 Allen's Creek Center 1,643 - - 10/29/97
359 Revco - Norfolk (1) - NAP NAP 10/29/97
360 River Village Shopping Center 548 - - 10/29/97
361 Eckerd - Monroe - NAP NAP 10/29/97
362 Revco - Dundalk - NAP NAP 10/29/97
363 Northridge & Quail Hollow Apartments 3,205 - - 10/29/97
364 Eckerd - Sharpsburg - NAP NAP 10/29/97
365 Rite-Aid - Barnegat Twp., Ocean County, 1,025 NAP NAP 10/29/97
366 Comfort Inn - Elkton 2,586 - - 10/29/97
367 McKellips Shopping Center 911 33,653 100,000 10/21/97
368 Trinity Oaks Shopping Center 822 26,124 4,354 10/22/97
369 Holbrook Plaza Shopping Center 5,198 - - 10/29/97
370 Carob Tree Apartments 11,444 - - 10/22/97
371 Sentinel Square 2,349 20,000 3,333 10/23/97
372 Eckerd - Lady Lake - NAP NAP 10/29/97
373 Oakwood Homes - - - 10/29/97
374 Southwest Oaks Apartments 4,944 - - 10/29/97
375 Crystal Glen 2,498 - - 10/29/97
376 Ocean Mews - 10/29/97
377 Rite-Aid - Newton Falls 947 NAP NAP 10/29/97
378 Camden Corners Shopping Center 416 16,128 - 10/29/97
379 Silverfield Condominiums 3,527 - - 10/29/97
380 901 Alton Road 121 6,450 538 10/29/97
381 Alfa-Laval Separators, Inc. 333 5,158 860 10/2/97
382 Revco - Portsmouth (2) - NAP NAP 10/29/97
383 151-169 Nagle Avenue 1,242 - - 10/29/97
384 Rite-Aid - Perry 240 NAP NAP 10/29/97
385 Revco - Virginia Beach 134 NAP NAP 10/29/97
<PAGE>
<CAPTION>
Control # Property Name Property Type
==========================================================================================
<S> <C> <C>
386 Revco - Akron Retail - CTL
387 Revco - Portsmouth (1) Retail - CTL
388 Revco - Newport News Retail - CTL
389 12701 Executive Drive Industrial
390 Nicholas Venture Multifamily
391 Sunset Court Multifamily
392 Royal Manor Multifamily
393 Parkway Square Retail - Unanchored
394 Rite-Aid - Portage Retail - CTL
395 Twenty Mile Mini-Storage Self Storage
396 4840-4860 Northfield Road Retail - Unanchored
397 Rite-Aid - New Bethlehem Retail - CTL
398 Rite-Aid - Folkston Retail - CTL
399 Park Terrace Multifamily
400 Fairmont Central Shopping Center Retail - Anchored
401 Flagler Inn Assisted Living
402 Rite-Aid - Craigville Retail - CTL
403 Orleans CVS, Inc. - Orleans Retail - CTL
404 Rite-Aid - Latrobe Retail - CTL
405 Rite-Aid - Homerville Retail - CTL
406 Berkshire Terrace Apartments Multifamily
407 Shops at Merchants Walk Retail - Unanchored
408 Ten Quivira Outparcel Building Retail - Unanchored
409 Rite-Aid - Glenville Retail - CTL
410 Casa Grande Retail - Unanchored
411 Braesforest Multifamily
412 Sunbelt Rentals - Savannah Retail - CTL
413 Fountain Court Plaza Office
414 Tower Gardens Multifamily
415 Revco - Chase City Retail - CTL
416 Sunbelt Rentals - Kennesaw Retail - CTL
417 Revco - Holly Hill Retail - CTL
418 Country Hearth Inn Columbus Hospitality
419 Davie Village Assisted Living Facility Assisted Living
420 Auto/Retail (2530 W. Commercial) Retail - Unanchored
421 1500 Alton Road Retail - Unanchored
422 2800 University Avenue Multifamily
423 Country Hearth West Columbia Hospitality
424 530 West 136th Street Multifamily
425 Country Hearth Inn Alvin Hospitality
426 Towering Pines Multifamily - Section 42
427 Auto/Retail (1000-1050 Commercial) Retail - Unanchored
428 Benson Terrace Multifamily
429 1225 Morris Avenue Multifamily
430 Abbington Apartments Multifamily
<CAPTION>
Initial Current Annual
Deposit Balance Deposit to
to Capital Capital Replacement
Control # Property Name Imp. Reserve Imp. Reserve Reserve *
==============================================================================================================
<S> <C> <C> <C> <C>
386 Revco - Akron - - 1,608
387 Revco - Portsmouth (1) - - 1,891
388 Revco - Newport News - - 1,608
389 12701 Executive Drive 15,750 15,750 3,864
390 Nicholas Venture - - 13,800
391 Sunset Court 1,563 1,563 32,896
392 Royal Manor 43,000 43,000 21,432
393 Parkway Square 45,875 29,231 9,179
394 Rite-Aid - Portage - - 1,026
395 Twenty Mile Mini-Storage - - 4,955
396 4840-4860 Northfield Road - - 4,236
397 Rite-Aid - New Bethlehem - - 1,017
398 Rite-Aid - Folkston - - 1,699
399 Park Terrace - - -
400 Fairmont Central Shopping Center 108,063 50,188 4,137
401 Flagler Inn 14,920 14,920 21,300
402 Rite-Aid - Craigville - - 2,028
403 Orleans CVS, Inc. - Orleans 10,000 9,506 -
404 Rite-Aid - Latrobe - - 1,021
405 Rite-Aid - Homerville - - 1,699
406 Berkshire Terrace Apartments 21,708 21,708 16,452
407 Shops at Merchants Walk - - 1,687
408 Ten Quivira Outparcel Building - - 1,800
409 Rite-Aid - Glenville - - 2,001
410 Casa Grande - - 4,050
411 Braesforest 95,313 81,273 23,500
412 Sunbelt Rentals - Savannah - - 2,000
413 Fountain Court Plaza 13,750 13,750 20,700
414 Tower Gardens 6,125 6,125 5,175
415 Revco - Chase City - - 1,575
416 Sunbelt Rentals - Kennesaw - - 4,258
417 Revco - Holly Hill - - 1,575
418 Country Hearth Inn Columbus 10,250 10,250 20,855
419 Davie Village Assisted Living Facility - - 8,700
420 Auto/Retail (2530 W. Commercial) - - 2,738
421 1500 Alton Road - - 750
422 2800 University Avenue 938 938 14,750
423 Country Hearth West Columbia 5,313 5,313 18,450
424 530 West 136th Street - - 12,876
425 Country Hearth Inn Alvin 188 500 18,851
426 Towering Pines - - 6,000
427 Auto/Retail (1000-1050 Commercial) - - 2,278
428 Benson Terrace - - 9,160
429 1225 Morris Avenue 1,875 1,875 10,750
430 Abbington Apartments 16,073 16,073 18,102
<CAPTION>
Current Annual Current As of
Balance Deposit to Balance Date of
Replacement TI/LC TI/LC Reserve
Control # Property Name Reserve Reserve * Reserve Accounts
================================================================================================================================
<S> <C> <C> <C> <C> <C>
386 Revco - Akron - NAP NAP 10/29/97
387 Revco - Portsmouth (1) 473 NAP NAP 10/29/97
388 Revco - Newport News 134 NAP NAP 10/29/97
389 12701 Executive Drive 644 10,000 1,668 10/29/97
390 Nicholas Venture - - - 10/29/97
391 Sunset Court - - - 10/29/97
392 Royal Manor 3,578 - - 10/29/97
393 Parkway Square 8,689 15,171 - 10/29/97
394 Rite-Aid - Portage 1,030 NAP NAP 10/29/97
395 Twenty Mile Mini-Storage 826 - - 10/21/97
396 4840-4860 Northfield Road 353 8,400 - 10/23/97
397 Rite-Aid - New Bethlehem 1,021 NAP NAP 10/29/97
398 Rite-Aid - Folkston 1,278 NAP NAP 10/29/97
399 Park Terrace - - - 10/29/97
400 Fairmont Central Shopping Center 7,589 14,065 - 10/29/97
401 Flagler Inn 6,630 - - 10/22/97
402 Rite-Aid - Craigville 1,853 NAP NAP 10/29/97
403 Orleans CVS, Inc. - Orleans - NAP NAP 10/29/97
404 Rite-Aid - Latrobe 1,026 NAP NAP 10/29/97
405 Rite-Aid - Homerville 1,278 NAP NAP 10/29/97
406 Berkshire Terrace Apartments 1,201 - - 10/29/97
407 Shops at Merchants Walk 141 10,545 - 10/29/97
408 Ten Quivira Outparcel Building - 2,563 - 10/21/97
409 Rite-Aid - Glenville 1,849 NAP NAP 10/29/97
410 Casa Grande 676 8,700 1,452 10/21/97
411 Braesforest 7,842 - - 10/29/97
412 Sunbelt Rentals - Savannah - NAP NAP 10/29/97
413 Fountain Court Plaza 8,671 43,236 86,886 10/22/97
414 Tower Gardens 431 - - 10/29/97
415 Revco - Chase City 1,054 NAP NAP 10/29/97
416 Sunbelt Rentals - Kennesaw - NAP NAP 10/29/97
417 Revco - Holly Hill 525 NAP NAP 10/29/97
418 Country Hearth Inn Columbus 1,739 - - 10/29/97
419 Davie Village Assisted Living Facility - - - 10/29/97
420 Auto/Retail (2530 W. Commercial) 228 6,606 - 10/29/97
421 1500 Alton Road 63 6,565 547 10/29/97
422 2800 University Avenue 6,153 - - 10/29/97
423 Country Hearth West Columbia 1,539 - - 10/29/97
424 530 West 136th Street 5,372 - - 10/29/97
425 Country Hearth Inn Alvin 1,572 - - 10/29/97
426 Towering Pines 1,003 - 10/29/97
427 Auto/Retail (1000-1050 Commercial) 190 3,767 - 10/29/97
428 Benson Terrace - - - 10/29/97
429 1225 Morris Avenue 896 - - 10/29/97
430 Abbington Apartments - - - 10/29/97
</TABLE>
* Subject to applicable ceilings and floors and varying lengths of deposit
periods.
(1) Includes $330,145 Occupancy Escrow
(2) Includes $399,065 Lease Escrow and $10,000 Escrow for Percentage Rent
(3) Includes Payment Reserve & Lease Rollover Escrow
(4) Includes $102,107 Security Escrow
(5) Includes $654,488 Leasing Escrow for Commonwealth Space
(6) Includes $4,379 Rental Holdback
(7) Reserve for tenant-specific lease-up
(8) Leasing Reserve for Hollywood Video Space ($37,833) & for additional
(9) Includes Const.Holdback($234,940), Landlord Site Dev ($522,296)
(10) Ground Lease Escrow
(11) Reserve for tenant-specific lease-up
(12) Includes $60,000 Lease Holdback
(13) Includes $89,500 Escrow for Metropolis Lease
(14) Bank Sign-up Lease Holdback
(15) Lease Holdback for Job Lot
(16) Reserve for tenant-specific lease-up
(17) Military Tenant Escrow
(18) Rental Increase Holdbac
(19) Includes $86,900 Cash Collateral
(20) Includes $190,000 Southwest Re-signing Lease
(21) Holdback for Housing Violation
(22) Includes $120,000 Montessori Lease
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