PRICE REDUCED

Asking Price: $15,000,000
Terms: Asset is offered "Free and Clear"

Barrington Park is a rental community currently under construction.
When completed, it will feature 148, one-, two-, and three-bedroom
flats and two-level units with available garages. The developer has
completed construction and obtained Certificates of Occupancy for
the first three buildings (1,3 & 4) totaling 65 units.

• 44 of the 65 available units (67% leased) will be absorbed by
• August 1, 2008 with a potential monthly income of $61,877 or $1.47/Sq. Ft.
• Building 5 (18 units) has completed framing and exterior work. (Construction has been halted on bldg 5)
• Completion cost for building 5 is estimated at $700,000.
• Curb and site work is completed on buildings 2,6 & 7. (65 units)
• Completion cost for buildings 2, 6 & 7 is estimated at $8M.