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Previous: HOME PROPERTIES OF NEW YORK INC, 8-K, EX-99, 2000-10-26 |
Next: MERRILL LYNCH ASSET GROWTH FUND INC, NSAR-B, 2000-10-26 |
<PAGE>
Exhibit 99.2
<TABLE>
<CAPTION>
HOME PROPERTIES OWNED COMMUNITIES RESULTS
THIRD QUARTER 2000 Q3 '00 VERSUS Q3
'99
% GROWTH
# of Date Q3 '00 Q3 '00 Year Ago Rental Rental
APTS. ACQU. RENT/MO. OCCUP. OCCUP. RATES REVS. NOI
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Rochester, New York Region:
1600 East Avenue 164 9/18/97 $ 1,329 78.5% 86.0% -0.4% -9.1% -0.4%
1600 Elmwood 210 Original $ 837 92.5% 93.6% 6.9% 5.6% 7.7%
Brook Hill 192 IPO $ 839 95.8% 93.9% 2.7% 4.8% 5.0%
Finger Lakes Manor 153 Original $ 752 94.1% 92.6% 4.9% 6.5% -0.9%
Hamlet Court 98 1/1/96 $ 664 96.1% 95.1% 5.9% 7.0% 7.5%
Hill Court South 95 10/31/97 $ 610 98.2% 94.1% 3.9% 8.3% 8.1%
Ivy Ridge 135 10/31/97 $ 610 96.6% 95.3% 5.0% 6.5% 10.1%
Newcastle Apartments 197 Original $ 727 93.9% 96.2% 4.3% 1.8% -0.1%
Northgate Manor 224 11/3/94 $ 657 87.3% 91.3% 4.3% -0.5% -26.2%
Perinton Manor 224 Original $ 764 97.5% 96.2% 2.7% 4.1% 3.1%
Pines of Perinton 508 9/29/98 $ 522 97.3% 98.5% 0.0% -1.2% 17.9%
Riverton Knolls 240 Original $ 824 85.4% 85.0% 4.4% 5.1% -5.4%
Spanish Gardens 220 IPO $ 648 94.8% 96.0% 4.7% 3.4% 6.2%
Springcreek 82 Original $ 574 98.6% 99.3% 2.9% 2.2% -3.5%
The Meadows 113 Original $ 645 95.4% 93.9% 4.4% 6.0% 9.9%
Woodgate 120 06/30/1997 $ 734 95.9% 96.8% 5.2% 4.0% 0.9%
Total Rochester Region 2,975 $ 723 92.4% 93.4% 3.4% 2.3% 3.1%
BUFFALO, NEW YORK REGION:
Emerson Square 96 10/15/97 $ 571 98.1% 99.0% 3.6% 2.8% 5.5%
Fairways 32 10/15/97 $ 685 97.0% 97.1% 4.3% 4.2% -7.6%
Garden Village 315 IPO $ 642 95.3% 97.3% 3.0% 1.0% -11.7%
Idylwood 720 1/1/95 $ 598 95.5% 95.7% 3.3% 2.9% 0.6%
Paradise Lane 324 10/15/97 $ 603 97.3% 97.8% 2.7% 2.1% 1.6%
Raintree Island 504 Original $ 629 95.5% 98.1% 3.5% 0.7% -7.1%
Williamstowne Village 528 Original $ 631 94.8% 90.9% 1.4% 5.7% 13.5%
Total Buffalo Region 2,519 $ 617 95.6% 95.8% 2.8% 2.6% -0.1%
SYRACUSE, NEW YORK REGION:
Candlewood Gardens 126 1/1/96 $ 521 97.4% 96.2% 4.0% 5.2% 2.6%
Conifer Village 199 IPO $ 566 100.0% 100.0% 0.0% 0.0% -1.4%
Fairview Heights 210 Original $ 770 89.8% 91.0% 6.9% 5.6% 19.0%
Harborside Manor 281 9/30/94 $ 600 94.1% 95.7% 3.6% 2.0% 6.2%
Pearl Street 60 5/17/95 $ 523 94.3% 95.1% 6.1% 5.1% -17.8%
Village Green (inclu 448 12/19/94 $ 634 95.5% 95.6% 2.8% 2.5% 8.1%
Fairways)
Westminster Place 240 1/1/96 $ 581 94.6% 97.3% 4.9% 1.9% -3.2%
Total Syracuse Region 1,564 $ 616 94.8% 95.7% 3.7% 2.8% 5.1%
LONG ISLAND, NY REGION
Coventry Village 94 7/31/98 $ 1,004 96.4% 96.1% 8.9% 9.3% 10.7%
Lake Grove Apartments 368 2/3/97 $ 1,005 95.3% 95.6% 10.9% 10.5% -5.0%
Mid- Island Estates 232 7/1/97 $ 893 97.1% 92.1% 6.8% 12.7% 20.4%
South Bay Manor 61 09/11/2000 N/A N/A N/A N/A N/A N/A
Total Long Island 755 $ 967 96.0% 94.5% 9.3% 11.0% 3.5%
Region
HUDSON VALLEY, NY REGION
Carriage Hill 140 7/17/96 $ 836 98.1% 94.4% 3.5% 7.5% 8.2%
Cornwall Park 75 7/17/96 $ 1,225 93.5% 92.8% 16.0% 16.8% 7.2%
Lakeshore Villas 152 7/17/96 $ 720 92.8% 97.7% 11.3% 5.9% -5.6%
Mountainside 227 7/7/98 $ 840 96.2% 97.3% 5.8% 4.5% 2.4%
Patricia 100 7/7/98 $ 920 97.6% 96.2% 9.1% 10.7% 6.0%
Sunset Gardens 217 7/17/96 $ 647 91.8% 92.5% 7.5% 6.5% 0.8%
Total Hudson Valley 911 $ 814 95.0% 95.3% 8.1% 7.7% 3.1%
Region
NEW JERSEY REGION
East Hill Gardens 33 7/7/98 $ 923 100.0% 95.7% 10.8% 15.8% 34.0%
Lakeview 106 7/7/98 $ 857 98.0% 93.9% 8.5% 13.4% 21.2%
Oak Manor 77 7/7/98 $ 1,199 98.6% 92.7% 9.1% 16.2% 35.3%
Pleasantview 1,142 7/7/98 $ 806 94.3% 94.1% 8.0% 8.3% 14.2%
Pleasure Bay 270 7/7/98 $ 676 97.4% 94.7% 5.8% 8.9% 15.9%
The Towers 137 7/7/98 $ 997 98.7% 96.6% 5.2% 7.5% 8.3%
Wayne Village 275 7/7/98 $ 873 96.2% 95.2% 7.1% 8.2% 8.7%
Windsor Realty 67 7/7/98 $ 811 98.0% 95.4% 7.7% 10.7% 10.7%
Royal Gardens Apartments 550 5/28/97 $ 855 96.3% 93.3% 6.3% 9.7% 9.7%
Total New Jersey Region 2,657 $ 835 95.9% 94.3% 7.3% 9.3% 13.6%
EASTERN PENNSYLVANIA REGION
Arbor Crossing 134 07/28/1999 $ 666 95.4% n/a n/a n/a n/a
Beechwood Gardens 160 07/07/1998 $ 624 98.5% 99.2% 4.2% 3.5% -11.0%
Broadlawn 316 03/15/2000 $ 843 93.9% n/a n/a n/a n/a
Castle Club 158 03/15/2000 $ 691 98.0% n/a n/a n/a n/a
Cedar Glen 110 03/03/1998 $ 466 92.2% 93.6% 4.5% 2.9% -7.7%
Chesterfield 247 9/23/97 $ 721 94.5% 93.2% 7.5% 9.0% 15.5%
Curren Terrace 318 9/23/97 $ 762 95.3% 95.8% 6.9% 6.3% 8.0%
Executive House 100 9/23/97 $ 799 98.5% 90.3% 8.1% 17.8% 38.5%
Glen Brook 173 07/28/1999 $ 638 97.8% n/a n/a n/a n/a
Glen Manor 174 9/23/97 $ 619 97.7% 97.0% 3.7% 4.3% 7.3%
Golf Club 399 03/15/2000 $ 806 92.3% n/a n/a n/a n/a
Hill Brook Place 274 07/28/1999 $ 655 97.5% n/a n/a n/a n/a
Lansdowne Group 222 9/23/97 $ 657 95.5% 96.3% 4.3% 3.5% -5.2%
New Orleans Park 308 9/23/97 $ 662 94.5% 92.3% 6.6% 9.2% 10.7%
Racquet Club 467 7/7/98 $ 807 96.2% 94.5% 4.3% 6.0% 10.6%
Ridgeway Court 66 2/26/99 $ 645 93.1% 92.2% 4.4% 5.6% 11.3%
Ridley Brook 244 07/28/1999 $ 675 98.3% n/a n/a n/a n/a
Sherry Lake 298 7/23/98 $ 895 97.2% 96.0% 6.7% 8.1% 15.9%
Sherwood Gardens 103 05/27/1999 $ 671 94.8% 91.5% 8.4% 12.4% 6.2%
Springwood Garden 77 9/23/97 $ 633 94.8% 86.5% 5.3% 15.4% 37.7%
Sugartown Mews 628 03/15/2000 $ 894 93.8% n/a n/a n/a n/a
Trexler Park 249 03/15/2000 $ 810 96.0% n/a n/a n/a n/a
Valley Park South 384 11/25/96 $ 801 95.9% 94.4% 6.8% 8.6% 14.5%
Valley View 176 9/23/97 $ 698 94.7% 88.5% 5.6% 13.0% 13.9%
Village Square 128 9/23/97 $ 744 96.0% 95.7% 12.9% 13.2% 41.2%
William Henry 363 03/15/2000 $ 835 95.6% N/A N/A N/A N/A
Total Eastern Penn. 6,276 $ 756 95.5% 94.2% 6.3% 8.0% 11.4%
Region
WESTERN PENNSYLVANIA REGION
Cloverleaf Village 148 11/4/97 $ 580 82.6% 90.4% 7.2% -2.0% 1.2%
Total Western Penn. 148 $ 580 82.6% 90.4% 7.2% -2.0% 1.2%
Region
DETROIT, MICHIGAN REGION
Bayberry Place 120 09/30/2000 n/a n/a n/a n/a n/a n/a
Carriage Hill 168 09/29/1998 $ 726 98.6% 96.4% 3.6% 5.9% 14.2%
Carriage Park 256 09/29/1998 $ 670 95.9% 91.5% 2.4% 7.3% 6.5%
Cherry Hill Club 164 07/07/1998 $ 589 94.3% 87.0% 3.7% 12.1% 36.1%
Cherry Hill Village 224 09/29/1998 $ 669 95.6% 95.8% 6.5% 6.1% 20.8%
Deerfield Woods 144 03/22/2000 $ 701 97.1% n/a n/a n/a n/a
Hampton Court 182 09/30/2000 n/a n/a n/a n/a n/a n/a
The Lakes 434 11/05/1999 $ 873 96.4% n/a n/a n/a n/a
Lewiston Portfolio 3,106 10/29/97 $ 669 96.1% 96.2% 5.5% 5.4% 3.2%
Macomb Manor 216 03/22/2000 $ 622 97.4% n/a n/a n/a n/a
Scotsdale 376 11/26/1997 $ 639 96.8% 95.2% 5.3% 7.1% 11.5%
Springwells Park 303 04/08/1999 $ 919 96.9% 90.3% 2.8% 10.3% 11.9%
Total Detroit Region 5,693 $ 696 96.3% 95.0% 4.9% 6.3% 6.6%
INDIANA REGION
Candlewood Apartments 310 02/10/1998 $ 666 90.8% 89.1% 3.7% 5.8% -4.2%
Maple Lane 396 07/09/1999 $ 631 90.9% N/A N/A N/A N/A
Total Indiana Region 706 $ 646 90.9% 89.1% 3.7% 5.8% -4.2%
NORTHERN VIRGINIA REGION
Braddock Lee 254 03/16/1998 $ 848 92.9% 96.7% 7.9% 3.6% 0.8%
Carriage Hill - VA 664 07/01/1999 $ 766 94.4% 96.9% 5.5% 2.8% -1.6%
East Meadow 150 08/01/2000 n/a n/a n/a n/a n/a n/a
The Manor 198 02/19/1999 $ 762 93.6% 93.0% 10.1% 10.9% 52.3%
Park Shirlington 294 03/16/1998 $ 880 95.1% 96.4% 8.2% 6.8% 7.1%
Riverdale 580 07/01/1999 $ 595 92.0% 95.4% 7.4% 3.6% -11.3%
Seminary Hill 296 07/01/1999 $ 899 95.2% 93.5% 10.3% 12.3% 9.7%
Seminary Towers 548 07/01/1999 $ 903 95.3% 92.4% 6.2% 9.4% 4.0%
Total No. Virginia 2,984 $ 790 94.2% 95.7% 8.5% 6.5% 13.5%
Region
CONNECTICUT REGION
Apple Hill 498 03/27/1998 $ 809 94.9% 94.7% 6.9% 7.1% 13.3%
Total Connecticut Region 498 $ 809 94.9% 94.7% 6.9% 7.1% 13.3%
BALTIMORE REGION
Bonnie Ridge 966 07/01/1999 $ 862 87.7% 92.6% 6.9% 1.3% -15.1%
Canterbury Apartments 618 07/16/1999 $ 635 96.4% n/a n/a n/a n/a
Carriage House 50 04/30/1998 $ 541 97.0% 99.4% 5.0% 2.3% 21.3%
Country Club Apartments 150 07/16/1999 $ 630 95.0% n/a n/a n/a n/a
Country Village 344 04/30/1998 $ 651 96.1% 96.1% 6.4% 6.3% 7.5%
Doub Meadow 95 07/16/1999 $ 596 97.9% n/a n/a n/a n/a
Elmwood Terrace 504 06/30/2000 n/a n/a n/a n/a n/a n/a
Falcon Crest 396 07/16/1999 $ 688 91.0% n/a n/a n/a n/a
Gateway Village 132 07/16/1999 $ 809 97.5% n/a n/a n/a n/a
Laurel Pines 236 07/01/1999 $ 710 93.0% 91.2% 8.2% 10.2% -5.1%
Morningside Heights 1,050 04/30/1998 $ 622 93.8% 94.4% 5.8% 5.0% 10.7%
Old Friends 51 02/01/2000 $ 671 94.7% n/a n/a n/a n/a
Owings Run 504 07/16/1999 $ 864 94.0% n/a n/a n/a n/a
Pavilion Apartments 432 07/01/1999 $ 1,138 95.2% 97.1% 7.2% 4.9% 4.1%
Rolling Park 144 09/15/1998 $ 660 93.7% 97.2% 7.8% 4.0% 6.8%
Selford Townhomes 102 07/16/1999 $ 820 96.7% n/a n/a n/a n/a
Shakespeare Park 82 07/16/1999 $ 609 98.2% n/a n/a n/a n/a
Strawberry Hill 145 04/30/1998 $ 577 92.8% 96.6% 5.1% 0.8% -3.4%
Tamarron Apartments 132 07/16/1999 $ 886 97.8% n/a n/a n/a n/a
Timbercroft Townhomes 284 07/16/1999 $ 625 99.1% n/a n/a n/a n/a
Village Square Townhomes 370 07/16/1999 $ 712 97.2% N/A N/A N/A N/A
Total Baltimore Region 6,787 $ 686 93.7% 95.3% 6.1% 4.8% 9.2%
CHICAGO REGION
Colonies 672 06/23/1998 $ 606 93.8% 88.6% 7.6% 13.8% 36.0%
Colony Apartments 783 09/01/1999 $ 790 97.2% N/A N/A N/A N/A
Total Chicago Region 1,455 $ 705 95.9% 88.6% 7.6% 13.8% 36.0%
PORTLAND, MAINE REGION
Mill Co. Gardens 96 07/07/1998 $ 553 96.7% 98.9% 7.8% 5.3% 10.6%
Redbank Village 500 07/07/1998 $ 615 95.4% 96.0% 8.7% 7.7% 8.8%
Total Portland Region 596 $ 605 95.6% 96.4% 8.6% 7.4% 9.0%
COLUMBUS, OHIO REGION
Westin Gardens 242 07/07/1998 $ 518 83.7% 94.8% 10.4% -2.3% -5.5%
Total Columbus Region 242 $ 518 83.7% 94.8% 10.4% -2.3% -5.5%
DELAWARE REGION
Chestnut Crossing 432 07/16/1999 $ 604 90.5% N/A N/A N/A N/A
Total Delaware Region 432 $ 604 90.5% n/a n/a n/a n/a
TOTAL OWNED PORTFOLIO 37,198 $ 730 94.7% n/a n/a n/a n/a
TOTAL CORE PORTFOLIO 23,530 $ 707 94.9% 94.6% 5.7% 6.0% 8.5%
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Home Properties of New York, Inc.
September 30, 2000 and 1999
Supplemental Information
SAME STORE OPERATING EXPENSE DETAILS
3RD QTR 3RD QTR NINE MOS NINE MOS
2000 1999 QUARTER % 2000 1999 NINE MOS %
ACTUAL ACTUAL VARIANCE VARIANCE ACTUAL ACTUAL VARIANCE VARIANCE
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ELECTRICITY 1,081 1,113 32 2.9% 2,909 2,815 (94) -3.3%
GAS 680 551 (129) -23.4% 5,844 5,680 (164) -2.9%
WATER & SEWER 1,443 1,454 11 0.8% 4,050 3,967 (83) -2.1%
REPAIRS & MAINTENANCE 3,530 3,948 418 10.6% 9,869 9,681 (188) -1.9%
PERSONNEL EXPENSE 5,546 5,040 (506) -10.0% 16,102 15,185 (917) -6.0%
ADVERTISING 925 786 (139) -17.7% 2,421 2,446 25 1.0%
GROUND RENT 51 50 (1) -2.0% 152 146 (6) -4.1%
LEGAL & PROFESSIONAL 118 118 - 0.0% 374 371 (3) -0.8%
OFFICE & TELEPHONE 727 532 (195) -36.7% 1,849 1,683 (166) -9.9%
% RENT 56 48 (8) -16.7% 190 155 (35) -22.6%
PROPERTY INS. 179 183 4 2.2% 689 553 (136) -24.6%
REAL ESTATE TAXES 5,234 5,024 (210) -4.2% 15,493 14,916 (577) -3.9%
SNOW - 10 10 100.0% 462 618 156 25.2%
TRASH 396 371 (25) -6.7% 1,158 1,078 (80) -7.4%
TOTAL 19,966 19,228 (738) -3.8% 61,562 59,294 (2,268) -3.8%
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
HOME PROPERTIES OF NEW YORK, INC.
September 30, 2000 and 1999 Supplemental Information
BREAKDOWN OF "OTHER INCOME"
Q3 '00 Q3 '99 YTD '00 YTD '99
<S> <C> <C> <C> <C> <C>
RECOGNIZED DIRECTLY BY HOME PROPERTIES:
Management fees 442 446 1,308 1,180
Development fees 258 210 498 601
Other 46 56 87 109
Sub-total 746 712 1,893 1,890
Management Companies (95% interest,
see below) (441) (40) (1,512) 330
Total Other Income 305 672 381 2,220
MANAGEMENT COMPANIES DETAIL:
Management fees 1,042 974 2,728 2,827
Development fees 1,054 1,184 3,163 3,829
Misc 23 40 66 78
General & Administrative (1,921) (1,787) (5,681) (5,259)
Interest expense (509) (324) (1,425) (766)
Depreciation (121) (92) (345) (259)
Taxes (33) (37) (98) (103)
(465) (42) (1,592) 347
95% to Home Properties (441) (40) (1,512) 330
COMBINED MANAGEMENT/DEVELOPMENT ACTIVITY:
Management fees 1,484 1,420 4,036 4,007
Development fees 1,312 1,394 3,661 4,430
COMBINED EBITDA 944 1,123 2,169 3,365
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
HOME PROPERTIES OF NEW YORK, INC.
September 30, 2000 and 1999 Supplemental
Information
SUMMARY OF ACQUISITIONS
WGTD. AVG.
PURCHASE # OF PURCHASE PRICE PER
COMMUNITY MARKET STATE DATE UNITS PRICE (MM) UNIT
2000 ACQUISITIONS
<S> <C> <C> <C> <C> <C> <C> <C>
Southbay Manor Long Island NY 10/02/2000 61 $3.00 $49,180
Hampton Court Detroit MI 10/02/2000 182 $6.00 $32,967
Bayberry Detroit MI 10/02/2000 120 $5.70 $47,500
East Meadow NoVA/DC VA 08/01/2000 150 $13.00 $86,667
Elmwood Terrace Baltimore MD 06/30/2000 504 $20.60 $40,873
Shostack - 2 Detroit MI 03/22/2000 360 $14.40 $40,000
properties
Gateside - 6 Philadelphia PA 03/15/2000 2,113 $135.90 $64,316
properties
Old Friends Baltimore MD 06/30/2000 51 $2.00 $39,216
TOTAL YTD 3,541 $200.60 $56,651
1999 ACQUISITIONS
Lakes, The Southfield MI 11/05/1999 434 $26.00 $59,908
Colony, The Mt. Prospect IL 09/01/1999 783 $41.80 $53,384
Ridley Philadelphia PA 07/28/1999 825 $32.30 $39,152
Mid-Atlantic MD & DE MD/DE 07/15/1999 3,297 $157.50 $47,771
Maple Lane South Bend IN 07/09/1999 396 $17.40 $43,939
CRC Baltimore MD 07/01/1999 3,722 $180.60 $48,522
Sherwood Gardens Levittown PA 05/27/1999 103 $4.10 $39,806
Springwell Park Dearborn MI 04/08/1999 303 $18.20 $60,066
Ridgeway Court Yeadon PA 02/26/1999 66 $2.15 $32,576
Manor, The Levittown PA 02/19/1999 198 $7.20 $36,364
TOTAL 10,127 $487.25 $48,114
TOTAL 1999 AND 2000 ACQUISITIONS 13,668 $688 $50,326
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
HOME PROPERTIES OF NEW YORK, INC.
September 30, 2000 and 1999 Supplemental Information
BREAKDOWN OF OWNED UNITS BY MARKET
NET NET
ACQUIRED AS OF 12/31/1999 ACQUIRED AS OF 09/30/2000
MARKET IN 1999 12/31/1999 % YTD 2000 09/30/2000 %
<S> <C> <C> <C> <C> <C> <C> <C>
CONNECTICUT CT 498 1.47% 498 1.34%
DELAWARE DE 432 432 1.28% 432 1.16%
CHICAGO IL 783 1,455 4.30% 1,455 3.91%
SOUTH BEND IN 396 706 2.09% 706 1.90%
BALTIMORE MD 3,831 6,232 18.43% 555 6,787 18.25%
PORTLAND ME 596 1.76% 596 1.60%
DETROIT MI 737 5,031 14.88% 662 5,693 15.30%
NORTHERN NJ -256 2,657 7.86% 2,657 7.14%
BUFFALO NY 2,519 7.45% 2,519 6.77%
SYRACUSE NY 1,564 4.63% 1,564 4.20%
ROCHESTER NY 2,975 8.80% 2,975 8.00%
LONG ISLAND NY 694 2.05% 61 755 2.03%
HUD VALLEY NY 911 2.69% 911 2.45%
COLUMBUS OH 242 0.72% 242 0.65%
PITTSBURGH PA 298 0.88% -150 148 0.40%
EASTERN PA 1,192 4,163 12.31% 2,113 6,276 16.87%
DC/No. VA DC 1,512 1,590 4.70% 150 1,740 4.68%
CENTRAL VA 1,244 1,244 3.68% 1,244 3.34%
TOTAL 9,871 33,807 100.0% 3,391 37,198 100.0%
TOTAL NY STATE 8,663 25.6% 61 8,724 23.5%
TOTAL UPSTATE, NY 7,058 20.9% 7,058 19.0%
TOTAL MID-ATLANTIC 8,211 13,661 40.4% 2,818 16,479 44.3%
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
HOME PROPERTIES OF NEW YORK, INC.
September 30, 2000 Supplemental Information
DEBT SUMMARY SCHEDULE
MATURITY YEARS TO
FIXED RATE BALANCE DATE MATURITY
<S> <C> <C> <C> <C>
SPRINGWOOD (IDS) 8.5000 1,414,628 11/01/01 1.09
VALLEY VIEW (IDS) 8.5000 3,207,075 11/01/01 1.09
ROYAL GARDENS (FIRST UNION) 7.6600 11,163,707 08/01/02 1.84
THE COLONY (JOHN HANCOCK) 7.6000 15,952,197 08/01/02 1.84
BAYBERRY PLACE (AE/IDS) 9.7500 2,526,001 10/01/02 2.00
1600 ELMWOOD (JOHN HANCOCK) 7.7500 5,170,255 11/01/02 2.09
BROOK HILL (JOHN HANCOCK) 7.7500 4,708,624 11/01/02 2.09
GARDEN VILLAGE (JOHN HANCOCK) 7.7500 4,431,647 11/01/02 2.09
VILLAGE GREEN (JOHN HANCOCK) 7.7500 4,616,298 11/01/02 2.09
BROADLAWN (CAPRI CAPITAL) 8.1700 11,853,420 08/01/03 2.84
CURREN TERRACE (GMAC) 8.3550 9,332,372 10/01/03 3.00
ELMWOOD TERRACE (JOHN HANCOCK) 8.2500 4,648,198 11/01/03 3.09
RACQUET CLUB (MELLON) 7.6250 11,830,164 11/01/03 3.09
ROLLING PARK (ALLFIRST MTG) 7.8750 2,754,366 11/01/03 3.09
SHERRY LAKE (GMAC) 7.8750 6,312,347 01/01/04 3.25
COLONIES (CAPRI CAPITAL) 8.8750 12,122,298 05/01/04 3.59
GLEN MANOR (IDS) 8.1250 3,601,494 05/01/04 3.59
CASTLE CLUB (LEGG MASON) 9.5500 3,718,977 03/01/05 4.42
WILLIAM HENRY (LEGG MASON) 7.6400 14,227,853 10/01/05 5.01
IDLYWOOD (MORGAN GTY) 8.6250 9,146,652 11/01/05 5.09
CARRIAGE HILL - MI (WMF WASH MTG) 7.3600 3,781,782 01/01/06 5.26
CARRIAGE PARK (WMF WASH MTG) 7.4800 5,449,488 01/01/06 5.26
CHERRY HILL (WMF WASH MTG) 7.9900 4,438,659 01/01/06 5.26
MID-ISLAND (JAMAICA SB) 7.5000 6,675,000 05/01/06 5.59
NEWCASTLE (PRESIDENTIAL) 7.9000 6,000,000 07/31/06 5.84
COUNTRY VILLAGE (PW FUNDING) 8.3850 6,554,543 08/01/06 5.84
HAMPTON COURT (ORIX RE CAP) 8.8750 3,601,453 09/01/06 5.92
RAINTREE (CAP LEASE) 8.5000 6,211,846 11/01/06 6.09
WOODGATE PLACE (ARCS) 7.8650 3,377,368 01/01/07 6.26
STRAWBERRY HILL (PW FUNDING) 8.2550 2,038,646 05/01/07 6.59
SEMINARY TOWERS - 1st (FIRST UNION) 8.2200 2,635,302 07/01/07 6.75
SEMINARY TOWERS - 2nd (FIRST UNION) 8.4000 2,321,271 07/01/07 6.75
MAPLE LANE APTS - II (AMI CAPITAL) 7.2050 5,911,716 01/01/08 7.26
PAVILION - 2nd (CAPRI CAPITAL) 7.4500 3,894,217 01/01/08 7.26
VALLEY PARK S (CAPRI CAP) 6.9300 9,878,719 01/01/08 7.26
CANDLEWOOD, IND (MORGAN GTY)) 7.0200 7,678,191 02/01/08 7.34
HAMLET COURT (HSBC) 7.1100 1,743,828 02/01/08 7.34
CANTERBURY IV (ALLFIRST BANK) 7.6700 2,166,620 06/01/08 7.67
DETROIT(COLLATERAL MORTGAGE) 7.5100 47,921,375 06/01/08 7.67
SHERWOOD GARDENS (LEGG MASON) 6.9800 3,036,934 07/01/08 7.76
GOLF CLUB (ARCS) 6.5850 16,958,601 12/01/08 8.18
MANSION HOUSE (1st NIAGARA BK) 7.5000 683,064 01/01/09 8.26
RIDLEY PORTFOLIO (KLORFINE et. al.) 8.0000 15,750,000 07/28/09 8.83
OLD FRIENDS (M & T BANK) 6.7300 2,387,909 08/01/09 8.84
MULTI-PROPERTY (M&T BANK/FREDDIE) 7.5750 45,400,000 05/01/10 9.59
CONIFER ( BALD. DEV CORP) 7.2000 2,445,000 06/01/10 9.67
SUGARTOWN MEWS (PRUDENTIAL) 7.5000 28,892,000 10/01/10 10.01
TREXLER PARK (PRUDENTIAL) 7.5000 10,140,000 10/01/10 10.01
RIDGEWAY(GMAC) 8.3750 1,121,401 11/01/10 10.09
MULTI-PROPERTY (WASHINGTON MTG) 7.2500 32,978,000 01/01/11 10.26
MULTI-PROPERTY (WASHINGTON MTG) 6.1600 58,881,000 01/01/11 10.26
TIMBERCROFT TH's 1 - 1st (GMAC) 8.5000 911,844 05/01/11 10.59
TIMBERCROFT TH's 3 - 1st (GMAC) 8.0000 1,225,663 02/01/12 11.35
VILLAGE SQUARE 3 (DP SERVICE) 7.0000 1,013,450 11/01/12 12.1
MORNINGSIDE/CARRIAGE HL (MORGAN) 6.9900 19,827,818 05/01/13 12.59
MULTI-PROPERTY (WASHINGTON MTG) 6.4750 100,000,000 08/31/13 12.93
DEERFIELD WOODS (GE FINANCIAL) 7.0000 3,428,070 01/01/14 13.26
SPRINGWELLS (AMER FIN CORP) 8.0000 11,404,360 07/01/15 14.76
PINES OF PERINTON (NYS URBAN DEV) 8.5000 8,517,159 05/01/18 17.59
CANTERBURY I - 1st (GMAC) 7.5000 3,684,048 06/01/18 17.68
CANTERBURY I - 2nd (ALLFIRST MTG) 8.5000 1,307,562 06/01/18 17.68
CANTERBURY I I- 2nd (ALLFIRST MTG) 8.5000 1,082,678 06/01/18 17.68
CANTERBURY I I I- 2nd (ALLFIRST MTG) 8.5000 618,302 06/01/18 17.68
PAVILION - 1st (CAPRI CAPITAL) 8.0000 8,768,942 11/01/18 18.10
BONNIE RIDGE (PRUDENTIAL) 6.6000 19,105,615 12/15/18 18.22
TIMBERCROFT TH's 1 - 2nd (ALLFIRST MTG) 8.3750 2,322,736 06/01/19 18.68
TIMBERCROFT TH's 3 - 2nd (ALLFIRST MTG) 8.3750 3,421,162 06/01/19 18.68
CANTERBURY I I - 1st (WMF HUNTOON) 7.5000 3,660,006 09/01/19 18.93
VILLAGE GREEN, FW (ARCS) 8.2300 4,284,498 10/01/19 19.01
RAINTREE (LEASEHOLD) 8.5000 1,144,877 04/30/20 19.59
CHESTNUT CROSSING (REILLY MTG) 9.3400 9,852,279 07/01/20 19.76
MACOMB MANOR (EF&A FUNDING) 8.6300 4,040,406 06/01/21 20.68
VILLAGE SQUARE 1&2 (CONT'L WINGATE) 8.1250 6,518,444 08/01/21 20.85
DOUB MEADOW (DOVENMUEHLE) 7.5000 2,876,823 10/01/21 21.02
CANTERBURY I I I - 1st (DOVENMUEHLE) 7.5000 2,551,527 11/01/21 21.10
SHAKESPEARE PARK (REILLY MTG) 7.5000 2,603,359 01/01/24 23.27
GATEWAY VILLAGE (CAPRI CAPITAL) 8.0000 6,369,803 05/01/30 29.60
OWINGS RUN 1 (REILLY MTG) 8.0000 17,602,823 10/01/35 35.02
OWINGS RUN 2 (WMF HUNTOON) 8.0000 14,671,241 06/01/36 35.69
WTD AVG - FIXED SECURED 7.43 756,507,997 10.89
% OF PORTFOLIO - FIXED 98.8%
VARIABLE SECURED
MAPLE LANE - I (CIVITAS) - Eqv. Bond 5.800 6,245,000 07/27/07 6.82
Yield Adjusts Monthly
SPRINGCREEK (SILVER) P + 1/2 10.000 3,050,129 08/01/04 3.84
WTD AVG - VARIABLE SECURED 7.18 9,295,129 5.84
WTD AVG - TOTAL SECURED DEBT 7.43 765,803,126 10.82
VARIABLE UNSECURED - LINE OF CREDIT
M & T LINE OF CREDIT - LIBOR+125 7.7800 0 09/01/02 1.92
Adjusts Daily
WTD AVG - COMBINED DEBT 7.43 765,803,126 10.82
WTG AVG - TOTAL SECURED DEBT 7.43 10.82
WTD AVG - TOTAL PORTFOLIO 7.43 10.82
</TABLE>
<TABLE>
<CAPTION>
FREE & CLEAR PROPERTIES
<S> <C> <C> <C>
1600 East Avenue 164 Ivy Ridge 135
Beechwood Gardens 160 Lake Grove Apartments 368
Candlewood Gardens 126 Lakeshore Villas 152
Carriage Hill - NY 140 Manor Apartments 198
Cedar Glen 110 Paradise Lane 324
Cloverleaf Village 148 Patricia Apts - NY 100
Cornwall Park 75 Pearl Street 60
Coventry Village Apartments 94 Selford Townhomes 102
East Hill Gardens 33 Seminary Hill 296
Emerson Square 96 Sunset Gardens 217
Fairway Apartments 32 The Lakes 434
Falcon Crest Townhouses 396 East Meadow 150
Hillcourt South 95 Southbay Manor 61
TOTAL FREE AND CLEAR PROPERTIES: 4,266
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
HOME PROPERTIES OF NEW YORK,INC.
September 30, 2000 Supplemental Information
NET ASSET VALUE CALCULATION
Cap Rate (after 3% G&A, before capital expenditures) 9.25% 9.5% 9.75%
3RD QTR 2000
<S> <C> <C> <C>
Rent 76,303 76,303 76,303
Property other income 2,999 2,999 2,999
Operating & maintenance expense (31,250) (31,250) (31,250)
Property NOI 48,052 48,052 48,052
Adjustment for 3rd QTR acq/dispositions 338 338 338
Effective 3rd QTR "run rate" 48,390 48,390 48,390
Annualized (3rd qtr =25.5% due to 189,766 189,766 189,766
seasonality)
NOI growth for next 12 months @ 4% 7,591 7,591 7,591
G & A @ 3% of gross revenues
(9,516) (9,516) (9,516)
Adjusted NOI 187,840 187,840 187,840
Real estate value using above cap rate 2,030,703 1,977,264 1,926,565
Management Co activities
(1st nine months EBITDA / .15 X 2) 19,280 19,280 19,280
Cash
46,816 46,816 46,816
Other assets 130,160 130,160 130,160
Less:
Investment in Mgt Co (incl above) [negative 1,237 1,237 1,237
balance]
Deferred charges
(3,631) (3,631) (3,631)
Goodwill
(8,628) (8,628) (8,628)
Gross value 2,215,937 2,162,498 2,111,799
Less liabilities (811,520) (811,520) (811,520)
Net Asset Value $ 1,404,417 $ 1,350,978 $1,300,279
PER SHARE/UNIT - FULLY DILUTED $ 32.34 $ 31.11 $ 29.94
43,428.9 shares
Economic CAP rate (after cap ex reserve of
$375 per unit) 8.56% 8.79% 9.03%
</TABLE>
<TABLE>
<CAPTION>
ADJUSTMENT FOR ACQUISITIONS/DISPOSITIONS:
Initial # of days
Unleveraged Quarterly Missing
PROPERTY PRICE DATE RETURN NOI IN QUARTER ADJ
<S> <C> <C> <C> <C> <C> <C>
Southbay Manor 3,000 09/11/2000 9.8% 74 72 58
Hampton Court 6,000 09/29/2000 9.5% 143 92 143
Bayberry 5,700 09/29/2000 9.7% 138 92 138
Misc from disposition N/A
338
</TABLE>
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