Jan 08	Feb 08	Mar 08	Apr 08	May 08	Jun 08	Jul 08	Aug 08	Sep 08	Oct 08	Nov 08	Dec 08	Ttl 08
Gross Incomehide
201 Office (10000 sf)	33.4%	33.4%	33.4%	33.1%	33.1%	33.1%	33.1%	33.1%	33.1%	33.1%	32.9%	32.9%	33.1%
102 Drug Store (7500 sf)	26.3%	26.3%	26.3%	26.1%	26.1%	26.1%	26.1%	26.1%	26.1%	26.0%	25.9%	25.9%	26.1%
103 Beauty Salon (2000 sf)	8.1%	8.1%	8.1%	8.9%	8.9%	8.9%	8.9%	8.9%	8.9%	9.0%	9.0%	9.0%	8.7%
104 Donuts (2000 sf)	8.1%	8.1%	8.1%	8.0%	8.0%	8.0%	8.0%	8.0%	8.0%	8.0%	8.5%	8.6%	8.1%
105 Flowers (1000 sf)	4.0%	4.0%	4.0%	4.0%	4.0%	4.0%	4.0%	4.0%	4.0%	4.0%	4.0%	4.0%	4.0%
Base Rental Revenue	79.9%	79.9%	79.9%	80.1%	80.1%	80.1%	80.1%	80.1%	80.1%	80.1%	80.2%	80.2%	80.1%
Percentage Rent	1.1%	1.1%	1.1%	1.1%	1.1%	1.1%	1.1%	1.1%	1.1%	1.1%	1.1%	1.1%	1.1%
Total Reimbursements	19.0%	19.0%	19.0%	18.8%	18.8%	18.8%	18.8%	18.8%	18.8%	18.8%	18.7%	18.7%	18.8%
Total Gross Income	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Less: Vacancy & Credit Loss	10.5%	10.5%	10.5%	10.5%	10.5%	10.5%	10.1%	6.1%
Effective Income	100.0%	100.0%	100.0%	89.5%	89.5%	89.5%	89.5%	89.5%	89.5%	100.0%	89.8%	100.0%	93.9%
Less: Expenseshide
Maintenance	3.2%	3.2%	3.2%	3.1%	3.1%	3.1%	3.1%	3.1%	3.1%	3.1%	3.1%	3.1%	3.1%
Insurance	1.3%	1.3%	1.3%	1.3%	1.3%	1.3%	1.3%	1.3%	1.3%	1.3%	1.3%	1.3%	1.3%
Property Taxes	8.4%	8.4%	8.4%	8.3%	8.3%	8.3%	8.3%	8.3%	8.3%	8.3%	8.2%	8.2%	8.3%
Security	0.8%	0.8%	0.8%	0.8%	0.8%	0.8%	0.8%	0.8%	0.8%	0.8%	0.8%	0.8%	0.8%
Utilities	0.9%	0.9%	0.9%	0.9%	0.9%	0.9%	0.9%	0.9%	0.9%	0.9%	0.9%	0.9%	0.9%
Management Fee	3.9%	3.9%	3.9%	3.9%	3.9%	3.9%	3.9%	3.9%	3.9%	3.9%	3.8%	3.8%	3.9%
Total Operating Expenses	18.5%	18.5%	18.5%	18.3%	18.3%	18.3%	18.3%	18.3%	18.3%	18.3%	18.2%	18.2%	18.3%
Net Operating Income	81.5%	81.5%	81.5%	71.2%	71.2%	71.2%	71.2%	71.2%	71.2%	81.7%	71.7%	81.8%	75.5%
Less: Debt Servicehide
Loan	63.5%	63.5%	63.5%	62.9%	62.9%	62.9%	62.9%	62.9%	62.9%	62.8%	62.4%	62.4%	63.0%
Total Debt Service	63.5%	63.5%	63.5%	62.9%	62.9%	62.9%	62.9%	62.9%	62.9%	62.8%	62.4%	62.4%	63.0%
Net Operating Cash Flow	18.1%	18.1%	18.1%	8.3%	8.3%	8.3%	8.3%	8.3%	8.3%	18.9%	9.2%	19.4%	12.6%
Less: Capital Spendinghide
Market TI's	33.8%	6.8%	3.4%
Market Commissions	16.7%	3.2%	1.7%
Total Capital Spending	50.5%	9.9%	5.1%
Cash Flow Before Tax	18.1%	18.1%	18.1%	8.3%	8.3%	8.3%	8.3%	8.3%	8.3%	9.2%	9.5%	7.5%
Taxable Income and Taxes
(Losses Taken Currently)
Taxable Revenues	100.0%	100.0%	100.0%	89.5%	89.5%	89.5%	89.5%	89.5%	89.5%	100.0%	89.8%	100.0%	93.9%
Less: Deducted Expenses	18.5%	18.5%	18.5%	18.3%	18.3%	18.3%	18.3%	18.3%	18.3%	18.3%	18.2%	18.2%	18.3%
Less: Interest Expense	50.6%	50.5%	50.4%	49.9%	49.8%	49.7%	49.6%	49.5%	49.4%	49.3%	48.9%	48.8%	49.7%
Less: Amortized Points	0.3%	0.3%	0.3%	0.3%	0.3%	0.3%	0.3%	0.3%	0.3%	0.3%	0.3%	0.3%	0.3%
Less: Depreciation	14.4%	14.4%	14.4%	14.2%	14.2%	14.2%	14.2%	14.2%	14.2%	14.5%	14.5%	14.6%	14.3%
Ordinary Income	16.3%	16.3%	16.4%	6.7%	6.8%	6.9%	7.0%	7.1%	7.2%	17.6%	8.0%	18.1%	11.2%
Taxable Income	16.3%	16.3%	16.4%	6.7%	6.8%	6.9%	7.0%	7.1%	7.2%	17.6%	8.0%	18.1%	11.2%
Taxes Due (- = Savings)	6.7%	6.8%	6.8%	2.8%	2.8%	2.9%	2.9%	2.9%	3.0%	7.3%	3.3%	7.5%	4.6%
Cash Flow After Tax	11.3%	11.3%	11.2%	5.5%	5.4%	5.4%	5.4%	5.3%	5.3%	5.9%	2.0%	2.9%