Jan 14	Feb 14	Mar 14	Apr 14	May 14	Jun 14	Jul 14	Aug 14	Sep 14	Oct 14	Nov 14	Dec 14	Ttl 14
Gross Incomehide
201 Office (10000 sf)	37.0%	37.7%	37.7%	37.7%	37.4%	37.4%	37.4%	37.3%	37.3%	37.3%	37.2%	37.2%	37.4%
102 Drug Store (7500 sf)	28.8%	28.5%	28.5%	28.5%	29.1%	29.1%	29.1%	29.0%	29.0%	29.0%	29.0%	29.0%	28.9%
103 Beauty Salon (2000 sf)	8.6%	8.6%	8.6%	8.6%	8.5%	8.5%	8.5%	8.5%	8.5%	8.5%	8.7%	8.7%	8.5%
104 Donuts (2000 sf)	8.7%	8.6%	8.6%	8.6%	8.5%	8.5%	8.5%	8.5%	8.5%	8.5%	8.5%	8.5%	8.5%
105 Flowers (1000 sf)	4.3%	4.2%	4.2%	4.2%	4.2%	4.2%	4.2%	4.3%	4.3%	4.3%	4.3%	4.3%	4.3%
Base Rental Revenue	87.4%	87.6%	87.6%	87.6%	87.7%	87.7%	87.7%	87.7%	87.7%	87.7%	87.7%	87.7%	87.6%
Percentage Rent	1.4%	1.4%	1.4%	1.4%	1.4%	1.4%	1.4%	1.4%	1.4%	1.4%	1.3%	1.3%	1.4%
Total Reimbursements	11.2%	11.1%	11.1%	11.1%	11.0%	11.0%	11.0%	11.0%	11.0%	11.0%	10.9%	10.9%	11.0%
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	10.3%	0.9%
Effective Income	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	89.7%	100.0%	99.1%
Less: Expenseshide
Maintenance	3.3%	3.2%	3.2%	3.2%	3.2%	3.2%	3.2%	3.2%	3.2%	3.2%	3.2%	3.2%	3.2%
Insurance	1.5%	1.5%	1.5%	1.5%	1.4%	1.4%	1.4%	1.4%	1.4%	1.4%	1.4%	1.4%	1.5%
Property Taxes	8.1%	8.0%	8.0%	8.0%	7.9%	7.9%	7.9%	7.9%	7.9%	7.9%	7.9%	7.9%	8.0%
Security	0.9%	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	1.0%	1.0%	1.0%	1.0%	1.0%	1.0%	1.0%	1.0%	1.0%	1.0%	0.9%	0.9%	1.0%
Management Fee	4.0%	4.0%	4.0%	4.0%	3.9%	3.9%	3.9%	3.9%	3.9%	3.9%	3.9%	3.9%	3.9%
Total Operating Expenses	18.7%	18.4%	18.4%	18.4%	18.3%	18.3%	18.3%	18.3%	18.3%	18.3%	18.2%	18.2%	18.3%
Net Operating Income	81.3%	81.6%	81.6%	81.6%	81.7%	81.7%	81.7%	81.7%	81.7%	81.7%	71.5%	81.8%	80.8%
Less: Debt Servicehide
Loan	54.6%	54.0%	54.0%	54.0%	53.5%	53.5%	53.5%	53.4%	53.4%	53.4%	53.3%	53.3%	53.7%
Total Debt Service	54.6%	54.0%	54.0%	54.0%	53.5%	53.5%	53.5%	53.4%	53.4%	53.4%	53.3%	53.3%	53.7%
Net Operating Cash Flow	26.8%	27.6%	27.6%	27.6%	28.2%	28.2%	28.2%	28.3%	28.3%	28.3%	18.1%	28.5%	27.1%
Less: Capital Spendinghide
Market TI's	6.9%	0.6%
Market Commissions	3.2%	0.3%
Total Capital Spending	10.1%	0.8%
Cash Flow Before Tax	26.8%	27.6%	27.6%	27.6%	28.2%	28.2%	28.2%	28.3%	28.3%	28.3%	18.1%	18.4%	26.3%
Taxable Income and Taxes
(Losses Taken Currently)
Taxable Revenues	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	89.7%	100.0%	99.1%
Less: Deducted Expenses	18.7%	18.4%	18.4%	18.4%	18.3%	18.3%	18.3%	18.3%	18.3%	18.3%	18.2%	18.2%	18.3%
Less: Interest Expense	36.7%	36.2%	36.1%	35.9%	35.5%	35.4%	35.3%	35.1%	35.0%	34.9%	34.7%	34.5%	35.4%
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	17.6%	17.4%	17.4%	17.4%	17.2%	17.2%	17.2%	17.2%	17.2%	17.2%	17.1%	17.2%	17.3%
Ordinary Income	26.8%	27.7%	27.8%	27.9%	28.7%	28.8%	28.9%	29.1%	29.2%	29.4%	19.4%	29.8%	27.8%
Taxable Income	26.8%	27.7%	27.8%	27.9%	28.7%	28.8%	28.9%	29.1%	29.2%	29.4%	19.4%	29.8%	27.8%
Taxes Due (- = Savings)	11.1%	11.5%	11.5%	11.6%	11.9%	11.9%	12.0%	12.1%	12.1%	12.2%	8.1%	12.4%	11.5%
Cash Flow After Tax	15.7%	16.1%	16.0%	16.0%	16.3%	16.2%	16.2%	16.2%	16.1%	16.1%	10.1%	6.0%	14.7%