Rentable | Purchase | |||||||||
Property Description | Tenant | Square Feet | Price | |||||||
CVS Florence, SC |
Florence CVS, Inc. | 10,125 | $ | 2,625,000 | ||||||
Eckerd Spartanburg (Main), SC |
Eckerd Corporation | 10,908 | 3,475,000 | |||||||
Staples Warsaw, IN |
Staples the Office Superstore East, Inc. | 23,990 | 3,215,000 | |||||||
Walgreens Bryan, TX |
Walgreen Co. | 15,050 | 6,325,000 | |||||||
Walgreens Harris County, TX |
Walgreen Co. | 15,050 | 5,650,000 | |||||||
Tractor Supply Fairview, TN |
Tractor Supply Company | 19,067 | 2,970,000 | |||||||
Borders Rapid City, SD |
Borders, Inc. | 20,000 | 6,461,000 | |||||||
Borders Reading, PA |
Borders, Inc. | 25,023 | 6,261,000 | |||||||
Walgreens Gainesville, FL |
Walgreen Co. | 13,905 | 3,625,000 | |||||||
Chilis Fredericksburg, TX |
Brinker Texas, L.P. | 5,494 | 2,314,000 | |||||||
Tractor Supply Baytown, TX |
Tractor Supply Company | 22,670 | 3,310,000 | |||||||
Winco Eureka, CA |
Winco Foods, LLC | 82,490 | 16,300,000 | |||||||
Eckerd Vineland, NJ |
Eckerd Corporation | 14,910 | 5,000,000 | |||||||
Eckerd Mantua, NJ |
Eckerd Corporation | 8,710 | 2,050,000 | |||||||
Best Buy (Super Value) Warwick, RI |
Best Buy Stores, LP | 64,514 | 7,300,000 | |||||||
Best Buy Evanston, IL |
Best Buy Stores, LP | 45,397 | 8,250,000 | |||||||
Academy Sports Houston, TX |
Academy, LTD | 53,381 | 5,400,000 |
Rentable | Purchase | |||||||||
Property Description | Tenant | Square Feet | Price | |||||||
Starbucks Covington, TN |
Starbucks Corporation | 1,805 | 1,516,000 | |||||||
Starbucks Sedalia, MO |
Starbucks Corporation | 1,800 | 1,227,000 | |||||||
Kroger La Grange, GA |
The Kroger Co. | 61,331 | 7,293,750 | |||||||
La-Z-Boy Kentwood, MI |
La-Z-Boy Showcase Shoppes of Detroit, Inc. | 30,245 | 5,145,386 | |||||||
Circuit City Mesquite, TX |
Circuit City Stores, Inc. | 42,918 | 7,825,000 | |||||||
Tractor Supply Prior Lake, MN |
Tractor Supply Company | 36,183 | 5,050,000 | |||||||
Circuit City
Distribution Center Groveland, FL |
Circuit City Stores, Inc. | 706,560 | 27,548,810 | |||||||
Walgreens Fort Worth, TX |
Walgreen Co. | 15,120 | 4,855,153 | |||||||
Kohls Lake Zurich, IL |
Kohls Department Stores, Inc. | 88,306 | 12,712,730 | |||||||
EDS Salt Lake City, UT |
EDS Information Services, LLC | 406,101 | 22,824,824 | |||||||
Lowes
Cincinnati, OH |
Lowes Home Centers, Inc. | 129,044 | 20,558,483 | |||||||
Walgreens Kansas City (Linwood), MO |
Walgreen Co. | 13,905 | 3,750,000 | |||||||
Walgreens Kansas City (Troost), MO |
Walgreen Co. | 13,905 | 4,928,000 | |||||||
Walgreens Kansas City (63rd St), MO |
Walgreen Co. | 13,905 | 4,335,000 | |||||||
Walgreens Kansas City (Independence), MO |
Walgreen Co. | 13,905 | 4,598,000 | |||||||
Walgreens Topeka, KS |
Walgreen Co. | 13,905 | 3,121,950 | |||||||
CVS Amarillo, TX |
Eckerd Corporation | 9,504 | 2,791,067 | |||||||
Taco Bell Brazil, IN |
Southern Bells, Inc. | 1,993 | 1,969,655 | |||||||
Taco Bell
Henderson, KY |
Southern Bells, Inc. | 2,320 | 1,552,607 | |||||||
Academy Sports Baton Rouge, LA |
Academy Louisiana Co. | 52,500 | 6,942,782 | |||||||
Taco Bell Washington, IN |
Southern Bells, Inc. | 2,093 | 1,255,545 | |||||||
Taco Bell Robinson, IL |
Southern Bells, Inc. | 1,944 | 1,550,672 | |||||||
Taco Bell Princeton, IN |
Southern Bells, Inc. | 2,436 | 1,424,328 | |||||||
Eckerd Mableton, GA |
Eckerd Corporation | 8,996 | 1,850,637 | |||||||
Taco Bell/KFC Spencer, IN |
Southern Bells, Inc. | 2,296 | 964,865 | |||||||
CVS Del City, OK |
Eckerd Corporation | 10,906 | 4,179,502 | |||||||
Taco Bell Anderson, IN |
Southern Bells, Inc. | 2,166 | 1,725,514 | |||||||
Academy
Sports North Richland Hills, TX |
Academy, LTD | 52,500 | 6,292,471 | |||||||
Dave and
Busters Addison, IL |
Dave and Busters, Inc. | 50,000 | 13,928,571 | |||||||
Academy
Sports Houston (Southwest), TX |
Academy, LTD | 52,548 | 7,138,821 | |||||||
Academy
Sports Houston (Breton), TX |
Academy, LTD | 53,381 | 4,724,567 | |||||||
Eckerd Chattanooga, TN |
Eckerd Corporation | 10,909 | 2,797,644 | |||||||
Taco Bell/KFC Vinceness, IN |
Southern Bells, Inc. | 2,691 | 1,478,690 | |||||||
Taco Bell Martinsville, IN |
Southern Bells, Inc. | 2,057 | 1,973,552 | |||||||
LJS/A&W Houston, TX |
LJS Restaurants, Inc. | 34,094 | 1,204,821 | |||||||
Dickinson Theatre Yukon, OK |
Dickinson Theatres, Inc. | 27,442 | 4,550,000 | |||||||
Circuit City Taunton, MA |
Circuit City Stores, Inc. | 32,748 | 7,860,000 | |||||||
Telerx Kings Mountain, NC |
TelerX Marketing, Inc. | 60,000 | 8,690,000 | |||||||
Staples Guntersville, AL |
Staples the Office Super Store East, Inc. | 23,942 | 3,325,000 | |||||||
Fed Ex Peoria, IL |
Federal Express Corporation | 38,200 | 3,200,000 | |||||||
2,577,288 | $ | 321,192,397 | ||||||||
2
Fees Paid | ||||||||||||||||||||||
To | Rentable | |||||||||||||||||||||
Date | Year | Purchase | Sponsor | Square | Physical | |||||||||||||||||
Property | Type | Acquired | Built | Price | (1) | Feet | Occupancy | |||||||||||||||
CVS Florence, SC |
Drugstore | May 17, 2007 | 1998 | $ 2,625,000 | $ 69,563 | 10,125 | 100 | % | ||||||||||||||
Eckerd Spartanburg (Main), SC |
Drugstore | May 17, 2007 | 1998 | 3,475,000 | 92,088 | 10,908 | 100 | % | ||||||||||||||
Staples Warsaw, IN |
Office supply | May 17, 2007 | 1998 | 3,215,000 | 82,800 | 23,990 | 100 | % | ||||||||||||||
Walgreens Bryan, TX |
Drugstore | May 18, 2007 | 2001 | 6,325,000 | 167,610 | 15,050 | 100 | % | ||||||||||||||
Walgreens Harris County, TX |
Drugstore | May 18, 2007 | 2000 | 5,650,000 | 149,730 | 15,050 | 100 | % | ||||||||||||||
Tractor Supply Fairview, TN |
Specialty retail | May 25, 2007 | 2007 | 2,970,000 | 78,705 | 19,067 | 100 | % | ||||||||||||||
Borders Rapid City, SD |
Specialty retail | June 1, 2007 | 1999 | 6,461,000 | 173,150 | 20,000 | 100 | % | ||||||||||||||
Borders Reading, PA |
Specialty retail | June 1, 2007 | 1997 | 6,261,000 | 167,790 | 25,023 | 100 | % | ||||||||||||||
Walgreens Gainesville, FL |
Drugstore | June 1, 2007 | 1997 | 3,625,000 | 97,150 | 13,905 | 100 | % | ||||||||||||||
Chilis Fredericksburg, TX |
Restaurant | June 5, 2007 | 1985 | 2,314,000 | 61,320 | 5,494 | 100 | % | ||||||||||||||
Tractor Supply Baytown, TX |
Specialty retail | June 11, 2007 | 2007 | 3,310,000 | 88,710 | 22,670 | 100 | % | ||||||||||||||
Starbucks Covington, TN |
Restaurant | June 22, 2007 | 2006 | 1,516,000 | 30,320 | 1,805 | 100 | % | ||||||||||||||
Starbucks Sedalia, MO |
Restaurant | June 22, 2007 | 2006 | 1,227,000 | 24,540 | 1,800 | 100 | % | ||||||||||||||
Winco Eureka, CA |
Grocery store | June 27, 2007 | 1960 | 16,300,000 | 446,470 | 82,490 | 100 | % | ||||||||||||||
Eckerd Vineland, NJ |
Drugstore | June 27, 2007 | 1997 | 5,000,000 | 135,000 | 14,910 | 100 | % | ||||||||||||||
Eckerd Mantua, NJ |
Drugstore | June 27, 2007 | 1993 | 2,050,000 | 55,700 | 8,710 | 100 | % | ||||||||||||||
Best Buy (Super Value) Warwick, RI |
Specialty retail | June 27, 2007 | 1992 | 7,300,000 | 199,500 | 64,514 | 100 | % | ||||||||||||||
Best Buy Evanston, IL |
Specialty retail | June 27, 2007 | 1996 | 8,250,000 | 224,000 | 45,397 | 100 | % | ||||||||||||||
Academy Sports Houston, TX |
Specialty retail | June 27, 2007 | 1995 | 5,400,000 | 146,250 | 53,381 | 100 | % | ||||||||||||||
Kroger La Grange, GA |
Grocery store | June 28, 2007 | 1998 | 7,293,750 | 193,500 | 61,331 | 100 | % | ||||||||||||||
La-Z-Boy Kentwood, MI |
Specialty retail | June 28, 2007 | 1986 | 5,145,386 | 138,928 | 30,245 | 100 | % | ||||||||||||||
Circuit City Mesquite, TX |
Specialty retail | June 29, 2007 | 1996 | 7,825,000 | 199,550 | 42,918 | 100 | % | ||||||||||||||
Tractor Supply Prior Lake, MN |
Specialty retail | June 29, 2007 | 1991 | 5,050,000 | 133,833 | 36,183 | 100 | % | ||||||||||||||
Staples Guntersville, AL |
Office supply | July 6, 2007 | 2001 | 3,325,000 | 88,113 | 23,942 | 100 | % | ||||||||||||||
Walgreens Kansas City (Independence), MO |
Drugstore | July 11, 2007 | 1997 | 4,598,000 | 121,860 | 13,905 | 100 | % | ||||||||||||||
Walgreens Topeka, KS |
Drugstore | July 11, 2007 | 1999 | 3,121,950 | 81,139 | 13,905 | 100 | % | ||||||||||||||
Walgreens Kansas City (Linwood), MO |
Drugstore | July 11, 2007 | 2000 | 3,750,000 | 99,375 | 13,905 | 100 | % | ||||||||||||||
Walgreens Kansas City (Troost), MO |
Drugstore | July 11, 2007 | 2000 | 4,928,000 | 123,200 | 13,905 | 100 | % | ||||||||||||||
Walgreens Kansas City (63rd St), MO |
Drugstore | July 11, 2007 | 2000 | 4,335,000 | 117,045 | 13,905 | 100 | % | ||||||||||||||
Circuit City Taunton, MA |
Specialty retail | July 13, 2007 | 2001 | 7,860,000 | 200,430 | 32,748 | 100 | % | ||||||||||||||
Circuit
City Distribution Center Groveland, FL |
Specialty retail | July 17, 2007 | 1999 | 27,548,810 | 753,476 | 706,560 | 100 | % | ||||||||||||||
Walgreens Fort Worth, TX |
Drugstore | July 17, 2007 | 1999 | 4,855,153 | 133,853 | 15,120 | 100 | % | ||||||||||||||
Kohls Lake Zurich, IL |
Apparel | July 17, 2007 | 2000 | 12,712,730 | 345,005 | 88,306 | 100 | % | ||||||||||||||
EDS Salt Lake City, UT |
Technology Services | July 17, 2007 | 1993 | 22,824,824 | 636,496 | 406,101 | 100 | % | ||||||||||||||
Lowes
Cincinnati, OH |
Home improvement | July 17, 2007 | 1998 | 20,558,483 | 549,170 | 129,044 | 100 | % |
3
Fees Paid | |||||||||||||||||||||||
To | Rentable | ||||||||||||||||||||||
Date | Year | Purchase | Sponsor | Square | Physical | ||||||||||||||||||
Property | Type | Acquired | Built | Price | (1) | Feet | Occupancy | ||||||||||||||||
Dickinson Theatre Yukon, OK |
Theaters | July 17, 2007 | 2007 | 4,550,000 | 91,000 | 27,442 | 100 | % | |||||||||||||||
Telerx Kings Mountain, NC |
Marketing | July 17, 2007 | 2007 | 8,690,000 | 234,630 | 60,000 | 100 | % | |||||||||||||||
CVS Amarillo, TX |
Drugstore | July 19, 2007 | 1994 | 2,791,067 | 73,231 | 9,504 | 100 | % | |||||||||||||||
Taco Bell Brazil, IN |
Restaurant | July 19, 2007 | 1996 | 1,969,655 | 39,393 | 1,993 | 100 | % | |||||||||||||||
Taco Bell Henderson, KY |
Restaurant | July 19, 2007 | 1992 | 1,552,607 | 31,052 | 2,320 | 100 | % | |||||||||||||||
Academy
Sports Baton Rouge, LA |
Sporting goods | July 19, 2007 | 1996 | 6,942,782 | 185,726 | 52,500 | 100 | % | |||||||||||||||
Taco Bell Washington, IN |
Restaurant | July 19, 2007 | 1995 | 1,255,545 | 25,111 | 2,093 | 100 | % | |||||||||||||||
Taco Bell Robinson, IL |
Restaurant | July 19, 2007 | 1994 | 1,550,672 | 31,013 | 1,944 | 100 | % | |||||||||||||||
Taco Bell Princeton, IN |
Restaurant | July 19, 2007 | 1992 | 1,424,328 | 28,487 | 2,436 | 100 | % | |||||||||||||||
Eckerd Mableton, GA |
Drugstore | July 19, 2007 | 1994 | 1,850,637 | 48,983 | 8,996 | 100 | % | |||||||||||||||
Taco Bell/KFC Spencer, IN |
Restaurant | July 19, 2007 | 1999 | 964,865 | 19,297 | 2,296 | 100 | % | |||||||||||||||
CVS Del City, OK |
Drugstore | July 19, 2007 | 1998 | 4,179,502 | 109,900 | 10,906 | 100 | % | |||||||||||||||
Taco Bell Anderson, IN |
Restaurant | July 19, 2007 | 1995 | 1,725,514 | 34,510 | 2,166 | 100 | % | |||||||||||||||
Academy
Sports North Richland Hills, TX |
Sporting goods | July 19, 2007 | 1996 | 6,292,471 | 168,019 | 52,500 | 100 | % | |||||||||||||||
Dave and
Busters Addison, IL |
Restaurant | July 19, 2007 | 2006 | 13,928,571 | 334,571 | 50,000 | 100 | % | |||||||||||||||
Academy
Sports Houston (Southwest), TX |
Sporting goods | July 19, 2007 | 1996 | 7,138,821 | 189,026 | 52,548 | 100 | % | |||||||||||||||
Academy
Sports Houston (Breton), TX |
Sporting goods | July 19, 2007 | 1995 | 4,724,567 | 124,941 | 53,381 | 100 | % | |||||||||||||||
Eckerd Chattanooga, TN |
Drugstore | July 19, 2007 | 1997 | 2,797,644 | 75,153 | 10,909 | 100 | % | |||||||||||||||
Taco Bell/KFC Vinceness, IN |
Restaurant | July 19, 2007 | 2000 | 1,478,690 | 29,574 | 2,691 | 100 | % | |||||||||||||||
Taco Bell Martinsville, IN |
Restaurant | July 19, 2007 | 1986 | 1,973,552 | 39,471 | 2,057 | 100 | % | |||||||||||||||
LJS/A&W Houston, TX |
Restaurant | July 19, 2007 | 2004 | 1,204,821 | 24,096 | 34,094 | 100 | % | |||||||||||||||
Federal Express Peoria, IL |
Distribution | July 20, 2007 | 1997 | 3,200,000 | 84,800 | 38,200 | 100 | % | |||||||||||||||
$ | 321,192,397 | $ | 8,427,353 | 2,577,288 | |||||||||||||||||||
(1) | Fees paid to sponsor include payments made to an affiliate of our advisor for acquisition fees in connection with the property acquisition and payments to our advisor for finance coordination fees for services in connection with the origination or assumption of debt financing obtained to acquire the respective property. For more detailed information on fees paid to affiliates of our sponsor, see the section captioned Management Compensation beginning on page 58 of the prospectus. |
4
% of | ||||||||||||||||||||||||||||||
Total | Total | Base | ||||||||||||||||||||||||||||
Number | Square | Square | Renewal | Current | Rent per | |||||||||||||||||||||||||
of | Feet | Feet | Options | Annual | Square | Lease Term | ||||||||||||||||||||||||
Property | Tenants | Major Tenants* | Leased | Leased | ** | Base Rent | Foot | Beginning | To | |||||||||||||||||||||
CVS Florence, SC |
1 | Florence CVS, Inc. | 10,125 | 100 | % | 4/5 yr. | $ | 177,188 | $ | 17.50 | 5/17/2007 | 1/31/2019 | ||||||||||||||||||
Eckerd Spartanburg (Main), SC |
1 | Eckerd Corporation | 10,908 | 100 | % | 4/5 yr. | 268,555 | 24.62 | 5/17/2007 | 9/28/2018 | ||||||||||||||||||||
Staples Warsaw, IN |
1 | Staples the Office Superstore East, Inc. | 23,990 | 100 | % | 4/5 yr. | 261,491 | 10.90 | 5/17/2007 | 5/31/2013 | ||||||||||||||||||||
Walgreens Bryan, TX |
1 | Walgreen Co. | 15,050 | 100 | % | 8/5 yr. | 432,900 | 28.76 | 5/18/2007 | 4/30/2021 | ||||||||||||||||||||
Walgreens Harris County, TX |
1 | Walgreen Co. | 15,050 | 100 | % | 8/5 yr. | 389,340 | 25.87 | 5/18/2007 | 3/31/2021 | ||||||||||||||||||||
Tractor Supply Fairview, TN |
1 | Tractor Supply Company | 19,067 | 100 | % | 4/5 yr. | 216,420 | 11.35 | 5/25/2007 | 5/4/2022 | ||||||||||||||||||||
Borders Rapid City, SD |
1 | Borders, Inc. | 20,000 | 100 | % | 5/5 yr. | 465,923 | 23.30 | 6/1/2007 | 3/31/2016 | ||||||||||||||||||||
Borders Reading, PA |
1 | Borders, Inc. | 25,023 | 100 | % | 4/5 yr. | 451,392 | 18.04 | 6/1/2007 | 1/31/2019 | ||||||||||||||||||||
Walgreens Gainesville, FL |
1 | Walgreen Co. | 13,905 | 100 | % | 8/5 yr. | 262,800 | 18.90 | 6/1/2007 | 1/31/2018 | ||||||||||||||||||||
Chilis Fredericksburg, TX |
1 | Brinker Texas, L.P. | 5,494 | 100 | % | 2/5 yr. | 162,000 | 29.49 | 6/5/2007 | 11/30/2025 | ||||||||||||||||||||
Tractor Supply Baytown, TX |
1 | Tractor Supply Company | 22,670 | 100 | % | 4/5 yr. | 235,000 | 10.37 | 6/11/2007 | 5/29/2022 | ||||||||||||||||||||
Winco Eureka, CA |
1 | Winco Foods, LLC | 82,490 | 100 | % | 2/5 yr. | 1,043,955 | 12.66 | 6/27/2007 | 6/23/2016 | ||||||||||||||||||||
Eckerd Vineland, NJ |
1 | Eckerd Corporation | 14,910 | 100 | % | 4/5 yr. | 363,310 | 24.37 | 6/27/2007 | 3/5/2019 | ||||||||||||||||||||
Eckerd Mantua, NJ |
1 | Eckerd Corporation | 8,710 | 100 | % | 4/5 yr. | 157,227 | 18.05 | 6/27/2007 | 6/17/2014 | ||||||||||||||||||||
Best Buy (Super Value) Warwick, RI |
1 | Best Buy Stores, LP | 64,514 | 100 | % | 4/5 yr. | 537,625 | 8.33 | 6/27/2007 | 2/1/2020 | ||||||||||||||||||||
Best Buy Evanston, IL |
1 | Best Buy Stores, LP | 45,397 | 100 | % | 3/5 yr. | 576,300 | 12.69 | 6/27/2007 | 2/26/2017 | ||||||||||||||||||||
Academy Sports Houston, TX |
1 | Academy, LTD | 53,381 | 100 | % | 4/5 yr. | 379,277 | 7.11 | 6/27/2007 | 5/31/2015 | ||||||||||||||||||||
Starbucks Covington, TN |
1 | Starbucks Corporation | 1,805 | 100 | % | 4/5 yr. | 105,376 | 58.38 | 6/22/2007 | 4/30/2017 | ||||||||||||||||||||
Starbucks Sedalia, MO |
1 | Starbucks Corporation | 1,800 | 100 | % | 4/5 yr. | 85,302 | 47.39 | 6/22/2007 | 3/31/2017 | ||||||||||||||||||||
Kroger La Grange, GA |
1 | The Kroger Co. | 61,331 | 100 | % | N/A | 531,126 | 8.66 | 6/28/2007 | 1/31/2018 | ||||||||||||||||||||
La-Z-Boy Kentwood, MI |
1 | La-Z-Boy Showcase Shoppes of Detroit, Inc. | 30,245 | 100 | % | 4/5 yr. | 385,904 | 12.76 | 6/28/2007 | 10/31/2017 | ||||||||||||||||||||
Circuit City Mesquite, TX |
1 | Circuit City Stores, Inc. | 42,918 | 100 | % | 4/5 yr. | 586,844 | 13.67 | 6/29/2007 | 1/31/2017 | ||||||||||||||||||||
Tractor Supply Prior Lake, MN |
1 | Tractor Supply Company | 36,183 | 100 | % | 4/5 yr. | 366,000 | 10.12 | 6/29/2007 | 6/4/2022 | ||||||||||||||||||||
Circuit City
Distribution Center Groveland, FL |
1 | Circuit City Stores, Inc. | 706,560 | 100 | % | 2/10 yr. | 1,830,075 | 2.59 | 7/17/2007 | 8/31/2021 | ||||||||||||||||||||
Walgreens Fort Worth, TX |
1 | Walgreen Co. | 15,120 | 100 | % | 8/5 yr. | 305,842 | 20.23 | 7/17/2007 | 11/30/2019 | ||||||||||||||||||||
Kohls Lake Zurich, IL |
1 | Kohls Department Stores, Inc. | 88,306 | 100 | % | 6/5 yr. | 800,902 | 9.07 | 7/17/2007 | 1/30/2021 |
5
% of | ||||||||||||||||||||||||||||||
Total | Total | Base | ||||||||||||||||||||||||||||
Number | Square | Square | Renewal | Current | Rent per | |||||||||||||||||||||||||
of | Feet | Feet | Options | Annual | Square | Lease Term | ||||||||||||||||||||||||
Property | Tenants | Major Tenants* | Leased | Leased | ** | Base Rent | Foot | Beginning | To | |||||||||||||||||||||
EDS Salt Lake City, UT |
1 | EDS Information Services, LLC | 406,101 | 100 | % | 3/5 yr. | 593,418 | 1.46 | 7/17/2007 | 7/31/2016 | ||||||||||||||||||||
Lowes
Cincinnati, OH |
1 | Lowes Home Centers, Inc. | 129,044 | 100 | % | 6/5 yr. | 1,227,509 | 9.51 | 7/17/2007 | 2/28/2019 | ||||||||||||||||||||
Walgreens Kansas City (Linwood), MO |
1 | Walgreen Co. | 13,905 | 100 | % | 8/5 yr. | 264,400 | 19.01 | 7/11/2007 | 1/31/2018 | ||||||||||||||||||||
Walgreens Kansas City (Troost), MO |
1 | Walgreen Co. | 13,905 | 100 | % | 8/5 yr. | 348,000 | 25.03 | 7/11/2007 | 3/31/2020 | ||||||||||||||||||||
Walgreens Kansas City (63rd St), MO |
1 | Walgreen Co. | 13,905 | 100 | % | 8/5 yr. | 307,857 | 22.14 | 7/11/2007 | 12/31/2019 | ||||||||||||||||||||
Walgreens Kansas City (Independence), MO |
1 | Walgreen Co. | 13,905 | 100 | % | 8/5 yr. | 323,291 | 23.25 | 7/11/2007 | 12/31/2017 | ||||||||||||||||||||
Walgreens Topeka, KS |
1 | Walgreen Co. | 13,905 | 100 | % | 8/5 yr. | 228,000 | 16.40 | 7/11/2007 | 9/30/2019 | ||||||||||||||||||||
CVS Amarillo, TX |
1 | Eckerd Corporation | 9,504 | 100 | % | 4/5 yr. | 187,488 | 19.73 | 7/19/2007 | 12/3/2014 | ||||||||||||||||||||
Taco Bell Brazil, IN |
1 | Southern Bells, Inc. | 1,993 | 100 | % | 3/5 yr. | 142,800 | 71.65 | 7/19/2007 | 5/17/2021 | ||||||||||||||||||||
Taco Bell Henderson, KY |
1 | Southern Bells, Inc. | 2,320 | 100 | % | 3/5 yr. | 114,117 | 49.19 | 7/19/2007 | 5/17/2021 | ||||||||||||||||||||
Academy
Sports Baton Rouge, LA |
1 | Academy Louisiana Co., LLC | 52,500 | 100 | % | 4/5 yr. | 455,582 | 8.68 | 7/19/2007 | 6/30/2017 | ||||||||||||||||||||
Taco Bell Washington, IN |
1 | Southern Bells, Inc. | 2,093 | 100 | % | 3/5 yr. | 93,538 | 44.69 | 7/19/2007 | 5/17/2021 | ||||||||||||||||||||
Taco Bell Robinson, IL |
1 | Southern Bells, Inc. | 1,944 | 100 | % | 3/5 yr. | 116,300 | 59.83 | 7/19/2007 | 5/17/2021 | ||||||||||||||||||||
Taco Bell Princeton, IN |
1 | Southern Bells, Inc. | 2,436 | 100 | % | 3/5 yr. | 106,825 | 43.85 | 7/19/2007 | 5/17/2021 | ||||||||||||||||||||
Eckerd Mableton, GA |
1 | Eckerd Corporation | 8,996 | 100 | % | 4/5 yr. | 135,490 | 15.06 | 7/19/2007 | 1/28/2014 | ||||||||||||||||||||
Taco Bell/KFC Spencer, IN |
1 | Southern Bells, Inc. | 2,296 | 100 | % | 3/5 yr. | 71,400 | 31.10 | 7/19/2007 | 5/17/2021 | ||||||||||||||||||||
CVS Del City, OK |
1 | Eckerd Corporation | 10,906 | 100 | % | 4/5 yr. | 283,290 | 25.98 | 7/19/2007 | 10/6/2018 | ||||||||||||||||||||
Taco Bell Anderson, IN |
1 | Southern Bells, Inc. | 2,166 | 100 | % | 3/5 yr. | 124,237 | 57.36 | 7/19/2007 | 5/17/2021 | ||||||||||||||||||||
Academy
Sports N Richland Hills, TX |
1 | Academy, LTD | 52,500 | 100 | % | 4/5 yr. | 450,850 | 8.59 | 7/19/2007 | 5/31/2007 | ||||||||||||||||||||
Dave and
Busters Addison, IL |
1 | Dave and Busters, Inc. | 50,000 | 100 | % | 3/5 yr. | 975,000 | 19.50 | 7/19/2007 | 5/31/2024 | ||||||||||||||||||||
Academy Sports Houston (Southwest), TX |
1 | Academy, LTD | 52,548 | 100 | % | 4/5 yr. | 494,548 | 9.41 | 7/19/2007 | 2/1/2017 | ||||||||||||||||||||
Academy Sports Houston (Breton), TX |
1 | Academy, LTD | 53,381 | 100 | % | 4/5 yr. | 325,550 | 6.10 | 7/19/2007 | 6/30/2015 | ||||||||||||||||||||
Eckerd Chattanooga, TN |
1 | Eckerd Corporation | 10,909 | 100 | % | 4/5 yr. | 201,276 | 18.45 | 7/19/2007 | 7/25/2017 | ||||||||||||||||||||
Taco Bell/KFC Vinceness, IN |
1 | Southern Bells, Inc. | 2,691 | 100 | % | 3/5 yr. | 107,205 | 39.84 | 7/19/2007 | 5/17/2021 | ||||||||||||||||||||
Taco Bell Martinsville, IN |
1 | Southern Bells, Inc. | 2,057 | 100 | % | 3/5 yr. | 143,082 | 69.56 | 7/19/2007 | 5/17/2021 | ||||||||||||||||||||
LJS/A&W Houston, TX |
1 | LJS Restaurants, Inc. | 34,094 | 100 | % | 3/5 yr. | 72,000 | 2.11 | 7/19/2007 | 12/1/2018 | ||||||||||||||||||||
Dickinson Theatre Yukon, OK |
1 | Dickinson Theatres, Inc. | 27,442 | 100 | % | 3/5 yr. | 392,421 | 14.30 | 7/17/2007 | 6/30/2022 | ||||||||||||||||||||
Circuit City Taunton, MA |
1 | Circuit City Stores, Inc. | 32,748 | 100 | % | 2/10 yr. | 570,000 | 17.41 | 7/13/2007 | 2/28/2021 |
6
% of | ||||||||||||||||||||||||||||||
Total | Total | Base | ||||||||||||||||||||||||||||
Number | Square | Square | Renewal | Current | Rent per | |||||||||||||||||||||||||
of | Feet | Feet | Options | Annual | Square | Lease Term | ||||||||||||||||||||||||
Property | Tenants | Major Tenants* | Leased | Leased | ** | Base Rent | Foot | Beginning | To | |||||||||||||||||||||
Telerx Kings Mountain, NC |
1 | TelerX Marketing, Inc. | 60,000 | 100 | % | 3/5 yr. | 604,800 | 10.08 | 7/17/2007 | 5/31/2017 | ||||||||||||||||||||
Staples Guntersville, AL |
1 | Staples the Office Super Store East, Inc. | 23,942 | 100 | % | 4/5 yr. | 248,997 | 10.40 | 7/6/2007 | 3/31/2016 | ||||||||||||||||||||
Federal Express Peoria, IL |
1 | Federal Express Corporation | 38,200 | 100 | % | 2/5 yr. | 227,290 | 5.95 | 7/20/2007 | 3/31/2017 | ||||||||||||||||||||
2,577,288 | $ | 21,314,635 | ||||||||||||||||||||||||||||
* | Major tenants include those tenants that occupy greater than 10.0% of the rentable square feet of their respective property. | |
** | Represents option renewal period / term of each option. |
Fixed Rate | Fixed | Variable | ||||||||||||||||||
Loan | Interest | Maturity | Rate Loan | Maturity | Total Loan | |||||||||||||||
Property | Amount | Rate | Date | Amount | Date | Outstanding | ||||||||||||||
CVS Florence, SC |
$ | 1,706,205 | 5.73 | % | 6/1/2017 | | N/A | $ | 1,706,205 | |||||||||||
Eckerd Spartanburg (Main), SC |
2,258,750 | 5.73 | % | 6/1/2017 | | N/A | 2,258,750 | |||||||||||||
Staples Warsaw, IN |
1,850,000 | 5.73 | % | 6/1/2017 | | N/A | 1,850,000 | |||||||||||||
Walgreens Bryan, TX |
4,111,000 | 5.70 | % | 6/11/2017 | 949,000 | 8/16/2007 | 5,060,000 | |||||||||||||
Walgreens Harris County, TX |
3,673,000 | 5.70 | % | 6/11/2017 | 848,000 | 6/11/2017 | 4,521,000 | |||||||||||||
Tractor Supply Fairview, TN |
1,930,500 | 5.59 | % | 6/1/2017 | | N/A | 1,930,500 | |||||||||||||
Borders Rapid City, SD |
4,393,000 | 5.66 | % | 6/11/2017 | 776,000 | 9/1/2007 | 5,169,000 | |||||||||||||
Borders Reading, PA |
4,257,000 | 5.66 | % | 6/11/2017 | 752,000 | 9/1/2007 | 5,009,000 | |||||||||||||
Walgreens Gainesville, FL |
2,465,000 | 5.60 | % | 6/11/2017 | 435,000 | 9/1/2007 | 2,900,000 | |||||||||||||
Chilis Fredericksburg, TX |
1,504,000 | 5.55 | % | 6/11/2017 | 347,000 | 9/5/2007 | 1,851,000 | |||||||||||||
Tractor Supply Baytown, TX |
2,251,000 | 5.60 | % | 6/11/2017 | 397,000 | 9/11/2007 | 2,648,000 | |||||||||||||
Winco Eureka, CA |
11,247,000 | 5.71 | % | 7/1/2017 | | N/A | 11,247,000 | |||||||||||||
Eckerd Vineland, NJ |
3,500,000 | 5.71 | % | 7/1/2017 | | N/A | 3,500,000 | |||||||||||||
Eckerd Mantua, NJ |
1,470,000 | 5.71 | % | 7/1/2017 | | N/A | 1,470,000 | |||||||||||||
Best Buy (Super Value) Warwick, RI |
5,350,000 | 5.71 | % | 7/1/2017 | | N/A | 5,350,000 | |||||||||||||
Best Buy Evanston, IL |
5,900,000 | 5.71 | % | 7/1/2017 | | N/A | 5,900,000 | |||||||||||||
Academy Sports Houston, TX |
3,825,000 | 5.71 | % | 7/1/2017 | | N/A | 3,825,000 | |||||||||||||
Starbucks Covington, TN |
| N/A | N/A | | N/A | | ||||||||||||||
Starbucks Sedalia, MO |
| N/A | N/A | | N/A | |
7
Fixed Rate | Fixed | Variable | ||||||||||||||||||
Loan | Interest | Maturity | Rate Loan | Maturity | Total Loan | |||||||||||||||
Property | Amount | Rate | Date | Amount | Date | Outstanding | ||||||||||||||
Kroger La Grange, GA |
4,750,000 | 5.21 | % | 7/1/2012 | | N/A | 4,750,000 | |||||||||||||
La-Z-Boy Kentwood, MI |
3,602,000 | 5.32 | % | 7/1/2012 | | N/A | 3,602,000 | |||||||||||||
Circuit City Mesquite, TX |
4,305,000 | 5.32 | % | 7/1/2012 | | N/A | 4,305,000 | |||||||||||||
Tractor Supply Prior Lake, MN |
3,283,250 | 5.73 | % | 7/1/2017 | | N/A | 3,283,250 | |||||||||||||
Circuit City
Distribution Center Groveland, FL |
20,250,000 | 5.55 | % | 5/11/2017 | | N/A | 20,250,000 | |||||||||||||
Walgreens Fort Worth, TX |
3,675,000 | 5.55 | % | 5/11/2017 | | N/A | 3,675,000 | |||||||||||||
Kohls Lake Zurich, IL |
9,075,000 | 5.55 | % | 5/11/2017 | | N/A | 9,075,000 | |||||||||||||
EDS Salt Lake City, UT |
18,000,000 | 5.55 | % | 5/11/2017 | | N/A | 18,000,000 | |||||||||||||
Lowes-Cincinnati, OH |
13,800,000 | 5.55 | % | 5/11/2017 | | N/A | 13,800,000 | |||||||||||||
Walgreens Kansas City (Linwood), MO |
2,437,500 | 5.69 | % | 7/11/2017 | | N/A | 2,437,500 | |||||||||||||
Walgreens Kansas City (Troost), MO |
2,464,000 | 5.79 | % | 7/11/2017 | | N/A | 2,464,000 | |||||||||||||
Walgreens Kansas City (63rd St), MO |
3,034,500 | 5.79 | % | 7/11/2017 | | N/A | 3,034,500 | |||||||||||||
Walgreens Kansas City (Independence), MO |
2,990,000 | 5.69 | % | 7/11/2017 | | N/A | 2,990,000 | |||||||||||||
Walgreens Topeka, KS |
1,870,000 | 5.79 | % | 7/11/2017 | | N/A | 1,870,000 | |||||||||||||
CVS Amarillo, TX |
1,741,000 | 5.83 | % | 8/1/2017 | | N/A | 1,741,000 | |||||||||||||
Taco Bell Brazil, IN |
| N/A | N/A | | N/A | | ||||||||||||||
Taco Bell Henderson, KY |
| N/A | N/A | | N/A | | ||||||||||||||
Academy Sports Baton Rouge, LA |
4,687,000 | 5.83 | % | 8/1/2017 | | N/A | 4,687,000 | |||||||||||||
Taco Bell Washington, IN |
| N/A | N/A | | N/A | | ||||||||||||||
Taco Bell Robinson, IL |
| N/A | N/A | | N/A | | ||||||||||||||
Taco Bell Princeton, IN |
| N/A | N/A | | N/A | | ||||||||||||||
Eckerd Mableton, GA |
1,197,000 | 5.67 | % | 8/1/2017 | | N/A | 1,197,000 | |||||||||||||
Taco Bell/KFC Spencer, IN |
| N/A | N/A | | N/A | | ||||||||||||||
CVS Del City, OK |
2,631,000 | 5.82 | % | 8/1/2017 | | N/A | 2,631,000 | |||||||||||||
Taco Bell Anderson, IN |
| N/A | N/A | | N/A | | ||||||||||||||
Academy Sports N Richland Hills, TX |
4,217,000 | 5.83 | % | 8/1/2017 | | N/A | 4,217,000 | |||||||||||||
Dave and Busters Addison, IL |
5,600,000 | 5.56 | % | 8/1/2017 | | N/A | 5,600,000 | |||||||||||||
Academy Sports Houston (Southwest), TX |
4,625,000 | 5.83 | % | 8/1/2017 | | N/A | 4,625,000 | |||||||||||||
Academy
Sports Houston (Breton), TX |
3,045,000 | 5.83 | % | 8/1/2017 | | N/A | 3,045,000 | |||||||||||||
Eckerd Chattanooga, TN |
1,920,000 | 5.67 | % | 8/1/2017 | | N/A | 1,920,000 | |||||||||||||
Taco Bell/KFC Vinceness, IN |
| N/A | N/A | | N/A | | ||||||||||||||
Taco Bell Martinsville, IN |
| N/A | N/A | | N/A | | ||||||||||||||
LJS/A&W Houston, TX |
| N/A | N/A | | N/A | | ||||||||||||||
Dickinson Theatre Yukon, OK |
| N/A | N/A | | N/A | | ||||||||||||||
Circuit City Taunton, MA |
4,323,000 | 5.32 | % | 8/1/2012 | | N/A | 4,323,000 | |||||||||||||
Telerx Kings Mountain, NC |
6,083,000 | 5.27 | % | 8/1/2012 | | N/A | 6,083,000 | |||||||||||||
Staples Guntersville, AL |
2,161,250 | 5.24 | % | 8/1/2012 | | N/A | 2,161,250 | |||||||||||||
Federal Express Peoria, IL |
2,080,000 | 5.60 | % | 7/20/2017 | | N/A | 2,080,000 | |||||||||||||
$ | 199,537,955 | $ | 4,504,000 | $ | 204,041,955 | |||||||||||||||
8
Property | Depreciable Tax Basis | |||
CVS Florence, SC |
$ | 1,939,879 | ||
Eckerd Spartanburg (Main), SC |
2,206,496 | |||
Staples Warsaw, IN |
2,975,976 | |||
Walgreens Bryan, TX |
5,688,753 | |||
Walgreens Harris County, TX |
4,130,920 | |||
Tractor Supply Fairview, TN |
2,616,643 | |||
Borders Rapid City, SD |
5,028,711 | |||
Borders Reading, PA |
4,289,688 | |||
Walgreens Gainesville, FL |
2,668,219 | |||
Chilis Fredericksburg, TX |
1,917,255 | |||
Tractor Supply Baytown, TX |
2,582,105 | |||
Winco Eureka, CA |
12,402,598 | |||
Eckerd Vineland, NJ |
2,849,536 | |||
Eckerd Mantua, NJ |
1,213,686 | |||
Best Buy (Super Value) Warwick, RI |
3,435,067 | |||
Best Buy Evanston, IL |
4,638,272 | |||
Academy Sports Houston, TX |
1,590,469 | |||
Starbucks Covington, TN |
1,009,060 | |||
Starbucks Sedalia, MO |
1,026,547 | |||
Kroger La Grange, GA |
6,397,575 | |||
La-Z-Boy Kentwood, MI |
3,876,176 | |||
Circuit City Mesquite, TX |
6,928,335 | |||
Tractor Supply Prior Lake, MN |
3,437,491 | |||
Circuit City
Distribution Center Groveland, FL |
22,039,048 | |||
Walgreens Fort Worth, TX |
3,884,122 | |||
Kohls Lake Zurich, IL |
10,170,184 | |||
EDS Salt Lake City, UT |
18,259,859 |
9
Property | Depreciable Tax Basis | |||
Lowes
Cincinnati, OH |
16,446,786 | |||
Walgreens Kansas City (Linwood), MO |
3,000,000 | |||
Walgreens Kansas City (Troost), MO |
3,942,400 | |||
Walgreens Kansas City (63rd St), MO |
3,468,000 | |||
Walgreens Kansas City (Independence), MO |
3,678,400 | |||
Walgreens Topeka, KS |
2,497,560 | |||
CVS Amarillo, TX |
2,232,854 | |||
Taco Bell Brazil, IN |
1,575,724 | |||
Taco Bell Henderson, KY |
1,242,086 | |||
Academy Baton Rouge, LA |
5,554,226 | |||
Taco Bell Washington, IN |
1,004,436 | |||
Taco Bell Robinson, IL |
1,240,538 | |||
Taco Bell Princeton, IN |
1,139,462 | |||
Eckerd Mableton, GA |
1,480,510 | |||
Taco Bell/KFC Spencer, IN |
771,892 | |||
CVS Del City, OK |
3,343,602 | |||
Taco Bell Anderson, IN |
1,380,411 | |||
Academy N Richland Hills, TX |
5,033,977 | |||
Dave and
Busters Addison, IL |
11,142,857 | |||
Academy Houston (Southwest), TX |
5,711,057 | |||
Academy Houston (Breton), TX |
3,779,654 | |||
Eckerd Chattanooga, TN |
2,238,115 | |||
Taco Bell/KFC Vinceness, IN |
1,182,952 | |||
Taco Bell Martinsville, IN |
1,578,842 | |||
LJS/A&W Houston, TX |
963,857 | |||
Dickinson Theatre Yukon, OK |
3,640,000 | |||
Circuit City Taunton, MA |
6,288,000 | |||
Telerx Kings Mountain, NC |
6,952,000 | |||
Staples Guntersville, AL |
2,660,000 | |||
Federal Express Peoria, IL |
2,560,000 | |||
$ | 246,932,868 | |||
Approx. | % of Total | |||||||||||||||
Year Ending | Number of | Square Feet | Total Annual Base | Annual Base | ||||||||||||
December 31, | Leases Expiring | Expiring | Rent | Rent | ||||||||||||
2007 |
1 | 2,000 | $ | 37,500 | 0.05 | % | ||||||||||
2008 |
8 | 43,210 | 644,731 | 0.78 | % | |||||||||||
2009 |
9 | 80,143 | 724,364 | 0.87 | % | |||||||||||
2010 |
6 | 20,968 | 400,235 | 0.48 | % | |||||||||||
2011 |
7 | 34,703 | 409,101 | 0.49 | % | |||||||||||
2012 |
9 | 90,077 | 891,923 | 1.07 | % | |||||||||||
2013 |
13 | 286,352 | 1,996,386 | 2.40 | % | |||||||||||
2014 |
7 | 130,899 | 1,555,402 | 1.87 | % | |||||||||||
2015 |
9 | 649,513 | 3,544,096 | 4.26 | % | |||||||||||
2016 |
22 | 1,203,741 | 7,685,829 | 9.24 | % | |||||||||||
2017 |
21 | 730,487 | 5,110,203 | 6.15 | % | |||||||||||
112 | 3,272,093 | $ | 22,999,770 | 27.66 | % | |||||||||||
10
| satisfaction of the conditions to the acquisitions contained in the respective contracts; | ||
| no material adverse change occurring relating to the properties, the tenants or in the local economic conditions; | ||
| our receipt of sufficient net proceeds from the offering of our common stock to the public and financing proceeds to make these acquisitions; and | ||
| our receipt of satisfactory due diligence information including appraisals, environmental reports and tenant and lease information. |
Expected | Approximate | Approximate | ||||||||||||||
Acquisition | Purchase | Compensation to | ||||||||||||||
Property | Date | Seller (1) | Price (2) | Sponsor (3) | ||||||||||||
Fed Ex Walker, MI |
7/25/2007 | A&R Development II, LLC | 7,575,000 | 202,850 | ||||||||||||
$ | 7,575,000 | $ | 202,850 | |||||||||||||
(1) | Seller is an unaffiliated third party. | |
(2) | Approximate purchase price does not include acquisition costs which we expect to be approximately 3.0% of the contract purchase price. | |
(3) | Amounts include acquisition fees payable to an affiliate of our advisor for acquisition fees in connection with the property acquisition and payments to our advisor for finance coordination fees for services in connection with the origination or assumption of debt financing to acquire the respective property. |
Total Square Feet | % of Total Square | |||||||||||||||
Property | Major Tenants* | Guarantor | Leased | Feet Leased | ||||||||||||
Fed Ex Walker, MI |
Fed Ex Ground Package System, Inc. | N/A | 78,034 | 100 | % | |||||||||||
78,034 | ||||||||||||||||
* | Major tenants are those tenants that occupy greater than 10.0% of the rentable square of their respective property. |
Renewal | Annual | Base Rent per | Lease Term | |||||||||||||||||||||||||
Property | Major Tenants* | Options | Base Rent | Square Foot | Beginning | To | ||||||||||||||||||||||
Fed Ex Walker, MI |
Fed Ex Ground Package System, Inc. | 2/5 yr. | 380,736 | 4.88 | 2/22/02 | 5/31/17 | ||||||||||||||||||||||
$ | 380,736 | |||||||||||||||||||||||||||
Property | Debt Financing | Type | Rate | Maturity Date | |||||||||||||
Fed Ex Walker, MI |
5,135,000 | Interest Only | 5.98 | % | July 25, 2012 | ||||||||||||
$ | 5,135,000 | ||||||||||||||||
11
Cole Blvd. Sq. Investors LP (Sold) |
||||||||||||||||||||
May 2002 | ||||||||||||||||||||
2002 | 2003 | 2004 | 2005 | 2006 | ||||||||||||||||
Gross revenues
|
$ | 1,885,886 | $ | 4,404,802 | $ | 3,444,830 | $ | 165,124 | $ | 129,679 | ||||||||||
Profit (loss) on sale of properties
|
| | 8,521,296 | | | |||||||||||||||
Less:
|
||||||||||||||||||||
Operating expenses(4)
|
686,067 | 1,511,374 | 1,204,787 | 34,079 | 19,746 | |||||||||||||||
Interest expense
|
912,735 | 2,028,457 | 1,390,517 | | | |||||||||||||||
Depreciation and amortization(3)
|
486,358 | 1,354,613 | 1,236,383 | | | |||||||||||||||
Net income (loss) Tax
basis(6)
|
$ | (199,274 | ) | $ | (489,642 | ) | $ | 8,134,439 | $ | 131,045 | $ | 109,933 | ||||||||
Taxable income
|
||||||||||||||||||||
from operations
|
$ | (199,274 | ) | $ | (489,642 | ) | $ | (386,857 | ) | $ | 131,045 | $ | 109,933 | |||||||
from gain on sale
|
| | 8,521,296 | | | |||||||||||||||
Cash generated
|
||||||||||||||||||||
from operations (5)
|
287,084 | 864,971 | 849,526 | 131,045 | 109,933 | |||||||||||||||
from sales
|
| | 14,423,979 | | | |||||||||||||||
from refinancing
|
| | | | | |||||||||||||||
Cash generated from operations,
sales and refinancing
|
287,084 | 864,971 | 15,273,505 | 131,045 | 109,933 | |||||||||||||||
Less: Cash distributions to
investors
|
||||||||||||||||||||
from operating cash flow
|
102,209 | 844,489 | 850,000 | | | |||||||||||||||
from sales and
refinancing
|
| | 12,837,500 | 420,000 | 111,000 | |||||||||||||||
from other
|
| | | | | |||||||||||||||
Cash generated (deficiency) after
cash distributions
|
184,875 | 20,482 | 1,586,005 | (288,955 | ) | (1,067 | ) | |||||||||||||
Less: Special items (not including
sales and refinancing)
|
| | | | | |||||||||||||||
Cash generated (deficiency) after
cash distributions and special items
|
$ | 184,875 | $ | 20,482 | $ | 1,586,005 | $ | (288,955 | ) | $ | 109,933 | |||||||||
Tax and Distribution Data Per
$1,000 Invested
|
||||||||||||||||||||
Federal income tax results:
|
||||||||||||||||||||
Ordinary income (loss)
|
||||||||||||||||||||
from operations
|
$ | (19.93 | ) | $ | (48.96 | ) | $ | (38.69 | ) | $ | 13.10 | $ | 10.99 | |||||||
from recapture
|
| | 246.21 | | | |||||||||||||||
Capital gain (loss)
|
| | 605.92 | | | |||||||||||||||
Cash distributions to investors:
|
||||||||||||||||||||
Source (on a tax basis)
|
||||||||||||||||||||
investment income
|
10.22 | 84.45 | 85.00 | | | |||||||||||||||
return of capital
|
| | | | | |||||||||||||||
Source (on a cash basis)
|
||||||||||||||||||||
sales
|
| | 1,283.75 | 42.00 | 11.10 | |||||||||||||||
refinancing
|
| | | | | |||||||||||||||
operations
|
10.22 | 84.45 | 85.00 | | | |||||||||||||||
other
|
| | | | | |||||||||||||||
Amount (in percentage terms)
remaining invested in program properties at the end of last year
reported in the table
|
0 | % | 0 | % |
12
Cole Santa Fe Investors LP |
||||||||||||||||||||
September 2002 | ||||||||||||||||||||
2002 | 2003 | 2004 | 2005 | 2006 | ||||||||||||||||
Gross revenues
|
$ | 1,293,152 | $ | 2,545,914 | $ | 2,252,104 | $ | 2,380,191 | $ | 1,888,819 | ||||||||||
Profit (loss) on
|
||||||||||||||||||||
sale of properties
|
| | | | | |||||||||||||||
Less:
|
||||||||||||||||||||
Operating expenses(4)
|
431,161 | 883,118 | 839,177 | 939,120 | 890,625 | |||||||||||||||
Interest expense
|
581,968 | 1,144,762 | 1,142,336 | 1,123,891 | 1,111,509 | |||||||||||||||
Depreciation and amortization(3)
|
247,530 | 895,291 | 758,595 | 475,149 | 634,960 | |||||||||||||||
Net income (loss) Tax
basis(6)
|
$ | 32,493 | $ | (377,257 | ) | $ | (488,004 | ) | $ | (157,969 | ) | $ | (748,275 | ) | ||||||
Taxable income
|
||||||||||||||||||||
from operations
|
$ | 32,493 | $ | (377,257 | ) | $ | (488,004 | ) | $ | (157,969 | ) | $ | (748,275 | ) | ||||||
from gain on sale
|
| | | | | |||||||||||||||
Cash generated
|
||||||||||||||||||||
from operations(5)
|
280,023 | 518,034 | 270,591 | 317,180 | (113,315 | ) | ||||||||||||||
from sales
|
| | | | | |||||||||||||||
from
|
||||||||||||||||||||
refinancing
|
| | | | | |||||||||||||||
Cash generated from operations,
sales and refinancing
|
280,023 | 518,034 | 270,591 | 317,180 | (113,315 | ) | ||||||||||||||
Less: Cash distributions to
investors
|
||||||||||||||||||||
from operating cash flow
|
6,253 | 568,574 | | | | |||||||||||||||
from sales and
refinancing
|
| | | | | |||||||||||||||
from other
|
| | | | | |||||||||||||||
Cash generated (deficiency) after
cash distributions
|
273,770 | (50,540 | ) | 270,591 | 317,180 | (113,315 | ) | |||||||||||||
Less: Special items (not including
sales and refinancing)
|
| | | | | |||||||||||||||
Cash generated (deficiency) after
cash distributions and special items
|
$ | 273,770 | $ | (50,540 | ) | $ | 270,591 | $ | 317,180 | $ | (113,315 | ) | ||||||||
Tax and Distribution Data Per
$1,000 Invested
|
||||||||||||||||||||
Federal income tax results:
|
||||||||||||||||||||
Ordinary income (loss)
|
||||||||||||||||||||
from operations
|
$ | 5.26 | $ | (61.04 | ) | $ | (78.97 | ) | $ | (25.56 | ) | $ | (121.08 | ) | ||||||
from recapture
|
| | | | | |||||||||||||||
Capital gain (loss)
|
| | | | | |||||||||||||||
Cash distributions to investors:
|
||||||||||||||||||||
Source (on a tax basis)
|
||||||||||||||||||||
investment income
|
1.01 | 92.00 | | | | |||||||||||||||
return of capital
|
| | | | | |||||||||||||||
Source (on a cash basis)
|
||||||||||||||||||||
sales
|
| | | | | |||||||||||||||
refinancing
|
| | | | | |||||||||||||||
operations
|
1.01 | 92.00 | | | | |||||||||||||||
other
|
| | | | | |||||||||||||||
Amount (in percentage terms)
remaining invested in program properties at the end of last year
reported in the table
|
100 | % |
13
Cole Credit Property Fund LP |
||||||||||||||||||||
November 2002 | ||||||||||||||||||||
2002 | 2003 | 2004 | 2005 | 2006 | ||||||||||||||||
Gross revenues
|
$ | | $ | 3,360,284 | $ | 4,457,358 | $ | 5,127,208 | $ | 2,442,267 | ||||||||||
Profit (loss) on sale of properties
|
| | | | | |||||||||||||||
Less:
|
||||||||||||||||||||
Operating expenses(4)
|
762 | 222,734 | 289,925 | 262,887 | 261,530 | |||||||||||||||
Interest expense
|
| 849,115 | 1,470,906 | 1,554,842 | 1,459,916 | |||||||||||||||
Depreciation and amortization(3)
|
| 1,351,646 | 1,805,318 | 1,503,075 | 1,173,216 | |||||||||||||||
Net income (loss) Tax
basis(6)
|
$ | (762 | ) | $ | 936,789 | $ | 891,209 | $ | 1,806,404 | $ | (452,396 | ) | ||||||||
Taxable income
|
||||||||||||||||||||
from operations
|
$ | (762 | ) | $ | 936,789 | $ | 891,209 | $ | 1,806,404 | $ | (452,396 | ) | ||||||||
from gain on sale
|
| | | | | |||||||||||||||
Cash generated
|
||||||||||||||||||||
from operations(5)
|
(762 | ) | 2,288,435 | 2,696,527 | 3,309,479 | 720,821 | ||||||||||||||
from sales
|
| | | | | |||||||||||||||
from refinancing
|
| | | | | |||||||||||||||
Cash generated from operations,
sales and refinancing
|
(762 | ) | 2,288,435 | 2,696,527 | 3,309,479 | 720,821 | ||||||||||||||
Less: Cash distributions to
investors
|
||||||||||||||||||||
from operating cash flow
|
| 1,400,125 | 2,187,497 | 2,124,998 | 2,000,012 | |||||||||||||||
from sales and
refinancing
|
| | | | | |||||||||||||||
from other
|
| | | | | |||||||||||||||
Cash generated (deficiency) after
cash distributions
|
(762 | ) | 888,310 | 509,030 | 1,184,481 | (1,279,191 | ) | |||||||||||||
Less: Special items (not including
sales and refinancing)
|
| | | | | |||||||||||||||
Cash generated (deficiency) after
cash distributions and special items
|
$ | (762 | ) | $ | 888,310 | $ | 509,030 | $ | 1,184,481 | $ | (1,279,191 | ) | ||||||||
Tax and Distribution Data Per
$1,000 Invested
|
||||||||||||||||||||
Federal income tax results:
|
||||||||||||||||||||
Ordinary income (loss)
|
||||||||||||||||||||
from operations
|
$ | (0.47 | ) | $ | 37.47 | $ | 35.65 | $ | 72.26 | $ | (18.10 | ) | ||||||||
from recapture
|
| | | | | |||||||||||||||
Capital gain (loss)
|
| | | | | |||||||||||||||
Cash distributions to investors:
|
||||||||||||||||||||
Source (on a tax basis)
|
||||||||||||||||||||
investment income
|
| 56.01 | 87.50 | 85.00 | 80.00 | |||||||||||||||
return of capital
|
| | | | | |||||||||||||||
Source (on a cash basis)
|
||||||||||||||||||||
sales
|
| | | | | |||||||||||||||
refinancing
|
| | | | | |||||||||||||||
operations
|
| 56.01 | 87.50 | 85.00 | 80.00 | |||||||||||||||
other
|
| | | | | |||||||||||||||
Amount (in percentage terms)
remaining invested in program properties at the end of last year
reported in the table
|
100 | % |
14
Cole Credit Property Fund II LP |
||||||||||||||||
July 2003 | ||||||||||||||||
2003 | 2004 | 2005 | 2006 | |||||||||||||
Gross revenues
|
$ | 128,655 | $ | 3,758,639 | $ | 5,073,379 | $ | 5,152,330 | ||||||||
Profit (loss) on sale of properties
|
| | | | ||||||||||||
Less:
|
||||||||||||||||
Operating expenses(4)
|
8,574 | 165,315 | 346,715 | 412,563 | ||||||||||||
Interest expense
|
6,438 | 1,345,798 | 1,908,834 | 1,938,864 | ||||||||||||
Depreciation and amortization(3)
|
21,234 | 1,667,189 | 1,527,717 | 1,369,651 | ||||||||||||
Net income (loss) Tax
basis(6)
|
$ | 92,409 | $ | 580,337 | $ | 1,290,113 | $ | 1,431,252 | ||||||||
Taxable income
|
||||||||||||||||
from operations
|
$ | 92,409 | $ | 580,337 | $ | 1,290,113 | $ | 1,431,252 | ||||||||
from gain on sale
|
| | | | ||||||||||||
Cash generated
|
||||||||||||||||
from operations(5)
|
113,643 | 2,247,526 | 2,817,830 | 2,800,903 | ||||||||||||
from sales
|
| | | | ||||||||||||
from refinancing
|
| | | | ||||||||||||
Cash generated from operations,
sales and refinancing
|
113,643 | 2,247,526 | 2,817,830 | 2,800,903 | ||||||||||||
Less: Cash distributions to
investors
|
||||||||||||||||
from operating cash flow
|
18,795 | 1,567,247 | 2,398,417 | 2,082,029 | ||||||||||||
from sales and
refinancing
|
| | | | ||||||||||||
from other
|
| | | | ||||||||||||
Cash generated (deficiency) after
cash distributions
|
94,848 | 680,279 | 419,413 | 718,874 | ||||||||||||
Less: Special items (not including
sales and refinancing)
|
| | | | ||||||||||||
Cash generated (deficiency) after
cash distributions and special items
|
$ | 94,848 | $ | 680,279 | $ | 419,413 | $ | 718,874 | ||||||||
Tax and Distribution Data Per
$1,000 Invested
|
||||||||||||||||
Federal income tax results:
|
||||||||||||||||
Ordinary income (loss)
|
||||||||||||||||
from operations
|
$ | 6.56 | $ | 23.69 | $ | 52.67 | $ | 58,43 | ||||||||
from recapture
|
| | | | ||||||||||||
Capital gain (loss)
|
| | | | ||||||||||||
Cash distributions to investors:
|
||||||||||||||||
Source (on a tax basis)
|
||||||||||||||||
investment income
|
1.33 | 63.98 | 97.92 | 85.00 | ||||||||||||
return of capital
|
| | | | ||||||||||||
Source (on a cash basis)
|
||||||||||||||||
sales
|
| | | | ||||||||||||
refinancing
|
| | | | ||||||||||||
operations
|
1.33 | 63.98 | 97.92 | 85.00 | ||||||||||||
other
|
| | | | ||||||||||||
Amount (in percentage terms)
remaining invested in program properties at the end of last year
reported in the table
|
100 | % |
15
Cole Collateralized Senior Notes, LLC |
||||||||||||||||
September 2003 | ||||||||||||||||
2003 | 2004 | 2005 | 2006 | |||||||||||||
Gross revenues
|
$ | 162,409 | $ | 5,087,274 | $ | 3,784,381 | $ | 1,341,850 | ||||||||
Profit (loss) on sale of properties
|
| 6,332,735 | 1,768,269 | 1,547,193 | ||||||||||||
Less:
|
||||||||||||||||
Operating expenses(4)
|
7,327 | 304,377 | 438,007 | 57,254 | ||||||||||||
Interest expense
|
248,806 | 4,128,321 | 4,275,923 | 1,426,798 | ||||||||||||
Depreciation and amortization(3)
|
52,656 | 1,574,516 | 1,092,368 | (131,509 | ) | |||||||||||
Net income (loss) Tax
basis(6)
|
$ | (146,380 | ) | $ | 5,412,795 | $ | (253,648 | ) | $ | 1,536,500 | ||||||
Taxable income
|
||||||||||||||||
from operations
|
$ | (146,380 | ) | $ | (919,940 | ) | $ | (2,021,917 | ) | $ | (10,693 | ) | ||||
from gain on sale
|
| 6,332,735 | 1,768,268 | 1,547,193 | ||||||||||||
Cash generated
|
||||||||||||||||
from operations(5)
|
(93,724 | ) | 654,576 | (929,549 | ) | (142,202 | ) | |||||||||
from sales
|
| 25,913,341 | 52,237,261 | 9,413,734 | ||||||||||||
from refinancing
|
| | | | ||||||||||||
Cash generated from operations,
sales and refinancing
|
(93,724 | ) | 26,567,917 | 51,307,712 | 9,271,532 | |||||||||||
Less: Cash distributions to
investors
|
||||||||||||||||
from operating cash flow
|
| | | (2 | ) | |||||||||||
from sales and
refinancing
|
| | | | ||||||||||||
from other
|
| | | | ||||||||||||
Cash generated (deficiency) after
cash distributions
|
(93,724 | ) | 26,567,917 | 51,307,712 | 9,271,532 | |||||||||||
Less: Special items (not including
sales and refinancing)
|
| | | | ||||||||||||
Cash generated (deficiency) after
cash distributions and special items
|
$ | (93,724 | ) | $ | 26,567,917 | $ | 51,307,712 | $ | 9,271,532 | |||||||
Tax and Distribution Data Per
$1,000 Invested
|
||||||||||||||||
Federal income tax results:
|
||||||||||||||||
Ordinary income (loss)
|
||||||||||||||||
from operations
|
$ | | $ | | $ | | $ | (2 | ) | |||||||
from recapture
|
| | | | ||||||||||||
Capital gain (loss)
|
| | | | ||||||||||||
Cash distributions to investors:
|
||||||||||||||||
Source (on a tax basis)
|
||||||||||||||||
investment income
|
| | | (2 | ) | |||||||||||
return of capital
|
| | | | ||||||||||||
Source (on a cash basis)
|
||||||||||||||||
sales
|
| | | | ||||||||||||
refinancing
|
| | | | ||||||||||||
operations
|
| | | | ||||||||||||
other
|
| | | | ||||||||||||
Amount (in percentage terms)
remaining invested in program properties at the end of last year
reported in the table
|
100 | % |
16
Cole Collateralized |
Cole Collateralized |
|||||||||||||||||||
Senior Notes II, LLC |
Senior Notes III, LLC |
|||||||||||||||||||
February 2004 | January 2005 | |||||||||||||||||||
2004 | 2005 | 2006 | 2005 | 2006 | ||||||||||||||||
Gross revenues
|
$ | 1,822,545 | $ | 3,323,749 | $ | 2,957,169 | $ | 1,810,020 | $ | 3,300,297 | ||||||||||
Profit (loss) on sale of properties
|
| 1,433,092 | 186,386 | 289,643 | 3,124,045 | |||||||||||||||
Less:
|
||||||||||||||||||||
Operating expenses(4)
|
98,921 | 238,585 | 121,582 | 120,231 | 169,907 | |||||||||||||||
Interest expense
|
2,095,747 | 4,407,598 | 3,613,049 | 2,568,620 | 3,606,300 | |||||||||||||||
Depreciation and amortization(3)
|
379,572 | 932,584 | 718,486 | 410,037 | 1,693,225 | |||||||||||||||
Net income (loss) Tax
basis(6)
|
$ | (751,695 | ) | $ | (821,926 | ) | $ | (1,309,561 | ) | $ | (999,224 | ) | $ | 954,910 | ||||||
Taxable income
|
||||||||||||||||||||
from operations
|
$ | (751,695 | ) | $ | (2,255,018 | ) | $ | (1,495,947 | ) | $ | (1,228,867 | ) | $ | (2,169,135 | ) | |||||
from gain on sale
|
| 1,433,092 | 186,386 | 289,643 | 3,124,045 | |||||||||||||||
Cash generated
|
||||||||||||||||||||
from operations(5)
|
(372,123 | ) | (1,322,434 | ) | (777,461 | ) | (875,830 | ) | (475,910 | ) | ||||||||||
from sales
|
16,927,937 | 47,905,072 | 24,378,796 | 17,740,380 | 19,046,303 | |||||||||||||||
from refinancing
|
| | | | | |||||||||||||||
Cash generated from operations,
sales and refinancing
|
16,555,814 | 46,582,638 | 23,601,335 | 16,861,550 | 18,570,393 | |||||||||||||||
Less: Cash distributions to
investors
|
||||||||||||||||||||
from operating cash flow
|
| (2 | ) | | (2 | ) | | |||||||||||||
from sales and
refinancing
|
| | | | | |||||||||||||||
from other
|
| | | | | |||||||||||||||
Cash generated (deficiency) after
cash distributions
|
16,555,814 | 46,582,638 | 23,601,335 | 16,861,550 | 18,570,393 | |||||||||||||||
Less: Special items (not including
sales and refinancing)
|
| | | | ||||||||||||||||
Cash generated (deficiency) after
cash distributions and special items
|
$ | 16,555,814 | $ | 46,582,638 | $ | 23,601,335 | $ | 16,861,550 | $ | 18,570,393 | ||||||||||
Tax and Distribution Data Per
$1,000 Invested
|
||||||||||||||||||||
Federal income tax results:
|
||||||||||||||||||||
Ordinary income (loss)
|
||||||||||||||||||||
from operations
|
$ | | $ | (2 | ) | $ | | $ | | $ | (2 | ) | ||||||||
from recapture
|
| | | | | |||||||||||||||
Capital gain (loss)
|
| | | | | |||||||||||||||
Cash distributions to investors:
|
||||||||||||||||||||
Source (on a tax basis)
|
||||||||||||||||||||
investment income
|
| (2 | ) | | | (2 | ) | |||||||||||||
return of capital
|
| | | | | |||||||||||||||
Source (on a cash basis)
|
||||||||||||||||||||
sales
|
| | | | | |||||||||||||||
refinancing
|
| | | | | |||||||||||||||
operations
|
| | | | | |||||||||||||||
other
|
| | | | | |||||||||||||||
Amount (in percentage terms)
remaining invested in program properties at the end of last year
reported in the table
|
100 | % | 100 | % |
17
Cole Collateralized |
||||||||||||||||||||
Senior Notes IV, LLC |
Cole Credit Property Trust, Inc. |
|||||||||||||||||||
May 2005 | April 2004 | |||||||||||||||||||
2005 | 2006 | 2004 | 2005 | 2006 | ||||||||||||||||
Gross revenues
|
$ | 91,908 | $ | 2,070,894 | $ | 951,220 | $ | 10,987,553 | $ | 16,149,526 | ||||||||||
Profit (loss) on sale of properties
|
| | | | | |||||||||||||||
Less:
|
||||||||||||||||||||
Operating expenses(4)
|
88,074 | 1,131,745 | 169,619 | 1,357,842 | 2,030,411 | |||||||||||||||
Interest expense
|
538,378 | 2,908,292 | 322,238 | 4,664,223 | 7,698,059 | |||||||||||||||
Depreciation and amortization(3)
|
79,634 | 426,629 | 296,514 | 3,638,794 | 5,394,072 | |||||||||||||||
Net income (loss) Tax
basis(6)
|
$ | (614,178 | ) | $ | (2,395,772 | ) | $ | 162,849 | (1) | $ | 1,326,694 | (1) | $ | 1,026,984 | (1) | |||||
Taxable income
|
||||||||||||||||||||
from operations
|
$ | (614,178 | ) | $ | (2,395,772 | ) | $ | 162,849 | $ | 1,326,694 | $ | 1,026,984 | ||||||||
from gain on sale
|
| | | | | |||||||||||||||
Cash generated
|
||||||||||||||||||||
from operations(5)
|
(534,544 | ) | (1,969,143 | ) | 459,363 | 4,965,488 | 6,421,056 | |||||||||||||
from sales
|
1,975,851 | 61,566,541 | | | | |||||||||||||||
from refinancing
|
| | | | | |||||||||||||||
Cash generated from operations,
sales and refinancing
|
1,441,307 | 59,597,398 | 459,363 | 4,965,488 | 6,421,056 | |||||||||||||||
Less: Cash distributions to
investors
|
||||||||||||||||||||
from operating cash flow
|
| (2) | | 132,344 | 4,751,612 | 7,070,390 | ||||||||||||||
from sales and
refinancing
|
| | | | | |||||||||||||||
from other
|
| | | | | |||||||||||||||
Cash generated (deficiency) after
cash distributions
|
1,441,307 | 59,597,398 | 327,019 | 213,876 | (649,334 | ) | ||||||||||||||
Less: Special items (not including
sales and refinancing)
|
| | | | | |||||||||||||||
Cash generated (deficiency) after
cash distributions and special items
|
$ | 1,441,307 | $ | 59,597,398 | $ | 327,019 | $ | 213,876 | $ | | ||||||||||
Tax and Distribution Data Per
$1,000 Invested
|
||||||||||||||||||||
Federal income tax results:
|
||||||||||||||||||||
Ordinary income (loss)
|
||||||||||||||||||||
from operations
|
$ | | $ | | (2) | $ | 5.73 | $ | 13.14 | $ | 10.17 | |||||||||
from recapture
|
| | | | | |||||||||||||||
Capital gain (loss)
|
| | | | | |||||||||||||||
Cash distributions to investors:
|
||||||||||||||||||||
Source (on a tax basis)
|
||||||||||||||||||||
investment income
|
| | (2) | 4.66 | 47.06 | 70.02 | ||||||||||||||
return of capital
|
| | | | | |||||||||||||||
Source (on a cash basis)
|
||||||||||||||||||||
sales
|
| | | | | |||||||||||||||
refinancing
|
| | | | | |||||||||||||||
operations
|
| | 4.66 | 47.06 | 70.02 | |||||||||||||||
other
|
| | | | | |||||||||||||||
Amount (in percentage terms)
remaining invested in program properties at the end of last year
reported in the table
|
100 | % | 100 | % |
18
Cole Credit Property |
Staples- |
|||||||||||||||||||
Trust II, Inc. |
Tulsa, OK |
|||||||||||||||||||
June 2005 | February 2004 | |||||||||||||||||||
2005 | 2006 | 2004 | 2005 | 2006 | ||||||||||||||||
Gross revenues
|
$ | 741,669 | $ | 20,022,986 | $ | 189,058 | $ | 324,241 | $ | 275,709 | ||||||||||
Profit (loss) on sale of properties
|
| | | | | |||||||||||||||
Less:
|
||||||||||||||||||||
Operating expenses(4)
|
195,020 | 3,306,511 | 1,579 | 3,080 | 2,850 | |||||||||||||||
Interest expense
|
439,829 | 8,901,113 | | | | |||||||||||||||
Depreciation and amortization(3)
|
221,411 | 6,469,366 | | | | |||||||||||||||
Net income (loss) Tax
basis(6)
|
$ | (114,591 | )(1) | $ | 1,345,996 | (1) | $ | 187,479 | $ | 321,161 | $ | 272,859 | ||||||||
Taxable income
|
||||||||||||||||||||
from operations
|
$ | (114,591 | ) | $ | 1,345,996 | $ | 187,479 | $ | 321,161 | $ | 272,859 | |||||||||
from gain on sale
|
| | | | | |||||||||||||||
Cash generated
|
||||||||||||||||||||
from operations(5)
|
106,820 | 7,815,362 | 187,479 | 321,161 | 272,859 | |||||||||||||||
from sales
|
| | | | | |||||||||||||||
from refinancing
|
| | | | | |||||||||||||||
Cash generated from operations,
sales and refinancing
|
106,820 | 7,815,362 | 187,479 | 321,161 | 272,859 | |||||||||||||||
Less: Cash distributions to
investors
|
||||||||||||||||||||
from operating cash flow
|
| 3,554,073 | 158,709 | 289,515 | 289,512 | |||||||||||||||
from sales and
refinancing
|
| | | | | |||||||||||||||
from other
|
| | | | | |||||||||||||||
Cash generated (deficiency) after
cash distributions
|
106,820 | 4,261,289 | 28,770 | 31,646 | (16,653 | ) | ||||||||||||||
Less: Special items (not including
sales and refinancing)
|
| | | | | |||||||||||||||
Cash generated (deficiency) after
cash distributions and special items
|
$ | 106,820 | $ | 4,261,289 | $ | 28,770 | $ | 31,646 | $ | (16,653 | ) | |||||||||
Tax and Distribution Data Per
$1,000 Invested
|
||||||||||||||||||||
Federal income tax results:
|
||||||||||||||||||||
Ordinary income (loss)
|
||||||||||||||||||||
from operations
|
$ | (4.08 | ) | $ | 4.39 | $ | 45.33 | $ | 77.65 | $ | 65.97 | |||||||||
from recapture
|
| | | | | |||||||||||||||
Capital gain (loss)
|
| | | | | |||||||||||||||
Cash distributions to investors:
|
||||||||||||||||||||
Source (on a tax basis)
|
||||||||||||||||||||
investment income
|
| 11.60 | 38.37 | 70.00 | 70.00 | |||||||||||||||
return of capital
|
| | | | | |||||||||||||||
Source (on a cash basis)
|
||||||||||||||||||||
sales
|
| | | | | |||||||||||||||
refinancing
|
| | | | | |||||||||||||||
operations
|
| 11.60 | 38.37 | 70.00 | 70.00 | |||||||||||||||
other
|
| | | | | |||||||||||||||
Amount (in percentage terms)
remaining invested in program properties at the end of last year
reported in the table
|
100 | % | 100 | % |
19
Mimis Café- |
Walgreens- |
|||||||||||||||||||||||
Lone Tree, CO |
Windsor, CO |
|||||||||||||||||||||||
April 2004 | June 2004 | |||||||||||||||||||||||
2004 | 2005 | 2006 | 2004 | 2005 | 2006 | |||||||||||||||||||
Gross revenues
|
$ | 92,614 | $ | 185,632 | $ | 181,170 | $ | 135,696 | $ | 353,024 | $ | 354,194 | ||||||||||||
Profit (loss) on sale of properties
|
| | | | | | ||||||||||||||||||
Less:
|
||||||||||||||||||||||||
Operating expenses(4)
|
1,900 | 3,654 | 3,886 | 1,684 | 6,339 | 5,389 | ||||||||||||||||||
Interest expense
|
| | | 53,114 | 161,554 | 161,554 | ||||||||||||||||||
Depreciation and amortization(3)
|
| | | | | | ||||||||||||||||||
Net income
(loss) Tax basis(6)
|
$ | 90,714 | $ | 181,978 | $ | 177,284 | $ | 80,898 | $ | 185,131 | $ | 187,252 | ||||||||||||
Taxable income
|
||||||||||||||||||||||||
from operations
|
$ | 90,714 | $ | 181,978 | $ | 177,284 | $ | 80,898 | $ | 185,131 | $ | 187,252 | ||||||||||||
from gain on sale
|
| | | | | | ||||||||||||||||||
Cash generated from
operations(5)
|
90,714 | 181,978 | 177,284 | 80,898 | 185,131 | 187,252 | ||||||||||||||||||
from sales
|
| | | | | | ||||||||||||||||||
from refinancing
|
| | | | | | ||||||||||||||||||
Cash generated from operations,
sales and refinancing
|
90,714 | 181,978 | 177,284 | 80,898 | 185,131 | 187,252 | ||||||||||||||||||
Less: Cash distributions to
investors
|
||||||||||||||||||||||||
from operating cash
flow
|
76,045 | 171,252 | 171,252 | 56,436 | 186,840 | 186,840 | ||||||||||||||||||
from sales and
refinancing
|
| | | | | | ||||||||||||||||||
from other
|
| | | | | | ||||||||||||||||||
Cash generated (deficiency) after
cash distributions
|
14,669 | 10,726 | 6,032 | 24,462 | (1,709 | ) | 412 | |||||||||||||||||
Less: Special items (not including
sales and refinancing)
|
| | | | | | ||||||||||||||||||
Cash generated (deficiency) after
cash distributions and special items
|
$ | 14,669 | $ | 10,726 | $ | 6,032 | $ | 24,462 | $ | (1,709 | ) | $ | 412 | |||||||||||
Tax and Distribution Data Per
$1,000 Invested
|
||||||||||||||||||||||||
Federal income tax results:
|
||||||||||||||||||||||||
Ordinary income (loss)
|
||||||||||||||||||||||||
from operations
|
$ | 37.09 | $ | 74.40 | $ | 72.48 | $ | 30.31 | $ | 69.36 | $ | 70.16 | ||||||||||||
from recapture
|
| | | | | | ||||||||||||||||||
Capital gain (loss)
|
| | | | | | ||||||||||||||||||
Cash distributions to investors:
|
||||||||||||||||||||||||
Source (on a tax basis)
|
||||||||||||||||||||||||
investment income
|
31.09 | 70.01 | 70.01 | 21.14 | 70.00 | 70.00 | ||||||||||||||||||
return of capital
|
| | | | | | ||||||||||||||||||
Source (on a cash basis)
|
||||||||||||||||||||||||
sales
|
| | | | | | ||||||||||||||||||
refinancing
|
| | | | | | ||||||||||||||||||
operations
|
31.09 | 70.01 | 70.01 | 21.14 | 70.00 | 70.00 | ||||||||||||||||||
other
|
| | | | | | ||||||||||||||||||
Amount (in percentage terms)
remaining invested in program properties at the end of last year
reported in the table
|
100 | % | 100 | % |
20
Walgreens- |
Walgreens- |
|||||||||||||||||||||||
Goldsboro, NC |
Hamilton, OH |
|||||||||||||||||||||||
June 2004 | July 2004 | |||||||||||||||||||||||
2004 | 2005 | 2006 | 2004 | 2005 | 2006 | |||||||||||||||||||
Gross revenues
|
$ | 101,750 | $ | 330,000 | $ | 330,613 | $ | 126,522 | $ | 386,000 | $ | 386,836 | ||||||||||||
Profit (loss) on sale of properties
|
| | | | | | ||||||||||||||||||
Less:
|
||||||||||||||||||||||||
Operating expenses(4)
|
1,416 | 5,920 | 5,323 | 3,060 | 10,773 | 10,139 | ||||||||||||||||||
Interest expense
|
36,706 | 145,628 | 145,628 | 45,878 | 169,146 | 169,146 | ||||||||||||||||||
Depreciation and amortization(3)
|
| | | | | | ||||||||||||||||||
Net income
(loss) Tax basis(6)
|
$ | 63,628 | $ | 178,452 | $ | 179,662 | $ | 77,584 | $ | 206,081 | $ | 207,552 | ||||||||||||
Taxable income
|
||||||||||||||||||||||||
from operations
|
$ | 63,628 | $ | 178,452 | $ | 179,662 | $ | 77,584 | $ | 206,081 | $ | 207,552 | ||||||||||||
from gain on sale
|
| | | | | | ||||||||||||||||||
Cash generated
|
||||||||||||||||||||||||
from operations(5)
|
63,628 | 178,452 | 179,662 | 77,584 | 206,081 | 207,552 | ||||||||||||||||||
from sales
|
| | | | | | ||||||||||||||||||
from refinancing
|
| | | | | | ||||||||||||||||||
Cash generated from operations,
sales and refinancing
|
63,628 | 178,452 | 179,662 | 77,584 | 206,081 | 207,552 | ||||||||||||||||||
Less: Cash distributions to
investors
|
||||||||||||||||||||||||
from operating cash
flow
|
40,334 | 179,892 | 179,892 | 34,958 | 207,624 | 207,624 | ||||||||||||||||||
from sales and
refinancing
|
| | | | | | ||||||||||||||||||
from other
|
| | | | | | ||||||||||||||||||
Cash generated (deficiency) after
cash distributions
|
23,294 | (1,440 | ) | (230 | ) | 42,626 | (1,543 | ) | (72 | ) | ||||||||||||||
Less: Special items (not including
sales and refinancing)
|
| | | | | | ||||||||||||||||||
Cash generated (deficiency) after
cash distributions and special items
|
$ | 23,294 | $ | (1,440 | ) | $ | (230 | ) | $ | 42,626 | $ | (1,543 | ) | $ | (72 | ) | ||||||||
Tax and Distribution Data Per
$1,000 Invested
|
||||||||||||||||||||||||
Federal income tax results:
|
||||||||||||||||||||||||
Ordinary income (loss)
|
||||||||||||||||||||||||
from operations
|
$ | 24.76 | $ | 69.44 | $ | 69.91 | $ | 26.16 | $ | 69.48 | $ | 69.98 | ||||||||||||
from recapture
|
| | | | | | ||||||||||||||||||
Capital gain (loss)
|
| | | | | | ||||||||||||||||||
Cash distributions to investors:
|
||||||||||||||||||||||||
Source (on a tax basis)
|
||||||||||||||||||||||||
investment income
|
15.69 | 70.00 | 70.00 | 11.79 | 70.00 | 70.00 | ||||||||||||||||||
return of capital
|
| | | | | | ||||||||||||||||||
Source (on a cash basis)
|
||||||||||||||||||||||||
sales
|
| | | | | | ||||||||||||||||||
refinancing
|
| | | | | | ||||||||||||||||||
operations
|
15.69 | 70.00 | 70.00 | 11.79 | 70.00 | 70.00 | ||||||||||||||||||
other
|
| | | | | | ||||||||||||||||||
Amount (in percentage terms)
remaining invested in program properties at the end of last year
reported in the table
|
100 | % | 100 | % |
21
Walgreens- |
Walgreens- |
|||||||||||||||||||||||
Carlsbad, NM |
Willimantic, CT |
|||||||||||||||||||||||
July 2004 | September 2004 | |||||||||||||||||||||||
2004 | 2005 | 2006 | 2004 | 2005 | 2006 | |||||||||||||||||||
Gross revenues
|
$ | 73,750 | $ | 295,000 | $ | 295,645 | $ | 55,160 | $ | 354,600 | $ | 355,245 | ||||||||||||
Profit (loss) on sale of properties
|
| | | | | | ||||||||||||||||||
Less:
|
||||||||||||||||||||||||
Operating expenses(4)
|
2,537 | 11,550 | 11,007 | 2,660 | 19,487 | 17,470 | ||||||||||||||||||
Interest expense
|
25,328 | 130,209 | 130,209 | 14,900 | 151,064 | 151,064 | ||||||||||||||||||
Depreciation and amortization(3)
|
| | | | | | ||||||||||||||||||
Net income
(loss) Tax basis(6)
|
$ | 45,885 | $ | 153,241 | $ | 154,429 | $ | 37,600 | $ | 184,049 | $ | 186,711 | ||||||||||||
Taxable income
|
||||||||||||||||||||||||
from operations
|
$ | 45,885 | $ | 153,241 | $ | 154,429 | $ | 37,600 | $ | 184,049 | $ | 186,711 | ||||||||||||
from gain on sale
|
| | | | | | ||||||||||||||||||
Cash generated
|
||||||||||||||||||||||||
from operations(5)
|
45,885 | 153,241 | 154,429 | 37,600 | 184,049 | 186,711 | ||||||||||||||||||
from sales
|
| | | | | | ||||||||||||||||||
from refinancing
|
| | | | | | ||||||||||||||||||
Cash generated from operations,
sales and refinancing
|
45,885 | 153,241 | 154,429 | 37,600 | 184,049 | 186,711 | ||||||||||||||||||
Less: Cash distributions to
investors
|
||||||||||||||||||||||||
from operating cash
flow
|
26,006 | 154,559 | 154,560 | | 185,376 | 185,376 | ||||||||||||||||||
from sales and
refinancing
|
| | | | | | ||||||||||||||||||
from other
|
| | | | | | ||||||||||||||||||
Cash generated (deficiency) after
cash distributions
|
19,879 | (1,318 | ) | (131 | ) | 37,600 | (1,327 | ) | 1,335 | |||||||||||||||
Less: Special items (not including
sales and refinancing)
|
| | | | | | ||||||||||||||||||
Cash generated (deficiency) after
cash distributions and special items
|
$ | 19,879 | $ | (1,318 | ) | $ | (131 | ) | $ | 37,600 | $ | (1,327 | ) | $ | 1,335 | |||||||||
Tax and Distribution Data Per
$1,000 Invested
|
||||||||||||||||||||||||
Federal income tax results:
|
||||||||||||||||||||||||
Ordinary income (loss)
|
||||||||||||||||||||||||
from operations
|
$ | 20.04 | $ | 66.93 | $ | 67.44 | $ | 13.69 | $ | 67.02 | $ | 67.99 | ||||||||||||
from recapture
|
| | | | | | ||||||||||||||||||
Capital gain (loss)
|
| | | | | | ||||||||||||||||||
Cash distributions to investors:
|
||||||||||||||||||||||||
Source (on a tax basis)
|
||||||||||||||||||||||||
investment income
|
11.36 | 67.50 | 67.50 | | 67.51 | 67.51 | ||||||||||||||||||
return of capital
|
| | | | | | ||||||||||||||||||
Source (on a cash basis)
|
||||||||||||||||||||||||
sales
|
| | | | | | ||||||||||||||||||
refinancing
|
| | | | | | ||||||||||||||||||
operations
|
11.36 | 67.50 | 67.50 | | 67.51 | 67.51 | ||||||||||||||||||
other
|
| | | | | | ||||||||||||||||||
Amount (in percentage terms)
remaining invested in program properties at the end of last year
reported in the table
|
100 | % | 100 | % |
22
Walgreens- |
Walgreens- |
|||||||||||||||||||||||
Edgewood, NM |
Fairborn, OH |
|||||||||||||||||||||||
September 2004 | September 2004 | |||||||||||||||||||||||
2004 | 2005 | 2006 | 2004 | 2005 | 2006 | |||||||||||||||||||
Gross revenues
|
$ | 28,330 | $ | 275,640 | $ | 276,137 | $ | 30,209 | $ | 344,500 | $ | 345,145 | ||||||||||||
Profit (loss) on sale of properties
|
| | | | | | ||||||||||||||||||
Less:
|
||||||||||||||||||||||||
Operating expenses(4)
|
1,326 | 14,191 | 13,699 | 1,943 | 20,365 | 19,781 | ||||||||||||||||||
Interest expense
|
5,527 | 118,666 | 118,666 | 6,797 | 145,934 | 145,934 | ||||||||||||||||||
Depreciation and amortization(3)
|
| | | | | | ||||||||||||||||||
Net income
(loss) Tax basis(6)
|
$ | 21,477 | $ | 142,783 | $ | 143,773 | $ | 21,469 | $ | 178,201 | $ | 179,430 | ||||||||||||
Taxable income
|
||||||||||||||||||||||||
from operations
|
$ | 21,477 | $ | 142,783 | $ | 143,773 | $ | 21,469 | $ | 178,201 | $ | 179,430 | ||||||||||||
from gain on sale
|
| | | | | | ||||||||||||||||||
Cash generated
|
||||||||||||||||||||||||
from operations(5)
|
21,477 | 142,783 | 143,773 | 21,469 | 178,201 | 179,430 | ||||||||||||||||||
from sales
|
| | | | | | ||||||||||||||||||
from refinancing
|
| | | | | | ||||||||||||||||||
Cash generated from operations,
sales and refinancing
|
21,477 | 142,783 | 143,773 | 21,469 | 178,201 | 179,430 | ||||||||||||||||||
Less: Cash distributions to
investors
|
||||||||||||||||||||||||
from operating cash flow
|
| 144,070 | 144,072 | | 178,488 | 178,488 | ||||||||||||||||||
from sales and
refinancing
|
| | | | | | ||||||||||||||||||
from other
|
| | | | | | ||||||||||||||||||
Cash generated (deficiency) after
cash distributions
|
21,477 | (1,287 | ) | (299 | ) | 21,469 | (287 | ) | 942 | |||||||||||||||
Less: Special items (not including
sales and refinancing)
|
| | | | | | ||||||||||||||||||
Cash generated (deficiency) after
cash distributions and special items
|
$ | 21,477 | $ | (1,287 | ) | $ | (299 | ) | $ | 21,469 | $ | (287 | ) | $ | 942 | |||||||||
Tax and Distribution Data Per
$1,000 Invested
|
||||||||||||||||||||||||
Federal income tax results:
|
||||||||||||||||||||||||
Ordinary income (loss)
|
||||||||||||||||||||||||
from operations
|
$ | 11.64 | $ | 66.91 | $ | 67.37 | $ | 8.12 | $ | 67.40 | $ | 67.86 | ||||||||||||
from recapture
|
| | | | | | ||||||||||||||||||
Capital gain (loss)
|
| | | | | | ||||||||||||||||||
Cash distributions to investors:
|
||||||||||||||||||||||||
Source (on a tax basis)
|
||||||||||||||||||||||||
investment
|
||||||||||||||||||||||||
income
|
| 67.51 | 67.51 | | 67.51 | 67.51 | ||||||||||||||||||
return of capital
|
| | | | | | ||||||||||||||||||
Source (on a cash basis)
|
||||||||||||||||||||||||
sales
|
| | | | | | ||||||||||||||||||
refinancing
|
| | | | | | ||||||||||||||||||
operations
|
| 67.51 | 67.51 | | 67.51 | 67.51 | ||||||||||||||||||
other
|
| | | | | | ||||||||||||||||||
Amount (in percentage terms)
remaining invested in program properties at the end of last year
reported in the table
|
100 | % | 100 | % |
23
Walgreens- |
Walgreens- |
|||||||||||||||||||||||
Slidell, LA |
Westheimer, TX |
|||||||||||||||||||||||
November 2004 | October 2004 | |||||||||||||||||||||||
2004 | 2005 | 2006 | 2004 | 2005 | 2006 | |||||||||||||||||||
Gross revenues
|
$ | | $ | 243,899 | $ | 275,516 | $ | 14,637 | $ | 495,000 | $ | 495,990 | ||||||||||||
Profit (loss) on sale of properties
|
| | | | | | ||||||||||||||||||
Less:
|
||||||||||||||||||||||||
Operating expenses(4)
|
| 11,336 | 12,445 | 580 | 21,003 | 21,476 | ||||||||||||||||||
Interest expense
|
| 98,704 | 118,901 | | 214,710 | 220,752 | ||||||||||||||||||
Depreciation and amortization(3)
|
| | | | | | ||||||||||||||||||
Net income
(loss) Tax basis(6)
|
$ | | 133,859 | 144,170 | $ | 14,057 | $ | 259,287 | $ | 253,762 | ||||||||||||||
Taxable income
|
||||||||||||||||||||||||
from operations
|
$ | | $ | 133,859 | $ | 144,170 | $ | 14,057 | $ | 259,287 | $ | 253,762 | ||||||||||||
from gain on sale
|
| | | | | | ||||||||||||||||||
Cash generated
|
||||||||||||||||||||||||
from operations(5)
|
| 133,859 | 144,170 | 14,057 | 259,287 | 253,762 | ||||||||||||||||||
from sales
|
| | | | | | ||||||||||||||||||
from refinancing
|
| | | | | | ||||||||||||||||||
Cash generated from operations,
sales and refinancing
|
| 133,859 | 144,170 | 14,057 | 259,287 | 253,762 | ||||||||||||||||||
Less: Cash distributions to
investors
|
||||||||||||||||||||||||
from operating cash
flow
|
| 114,918 | 143,772 | | 240,014 | 253,500 | ||||||||||||||||||
from sales and
refinancing
|
| | | | | | ||||||||||||||||||
from other
|
| | | | | | ||||||||||||||||||
Cash generated (deficiency) after
cash distributions
|
| 18,941 | 398 | 14,057 | 19,273 | 262 | ||||||||||||||||||
Less: Special items (not including
sales and refinancing)
|
| | | | | | ||||||||||||||||||
Cash generated (deficiency) after
cash distributions and special items
|
$ | | $ | 18,941 | $ | 398 | $ | 14,057 | $ | 19,273 | $ | 262 | ||||||||||||
Tax and Distribution Data Per
$1,000 Invested
|
||||||||||||||||||||||||
Federal income tax results:
|
||||||||||||||||||||||||
Ordinary income (loss)
|
||||||||||||||||||||||||
from operations
|
$ | | $ | 60.51 | $ | 65.18 | $ | 4.11 | $ | 66.48 | $ | 65.07 | ||||||||||||
from recapture
|
| | | | | | ||||||||||||||||||
Capital gain (loss)
|
| | | | | | ||||||||||||||||||
Cash distributions to investors:
|
||||||||||||||||||||||||
Source (on a tax basis)
|
||||||||||||||||||||||||
investment income
|
| 51.95 | 65.00 | | 61.54 | 65.00 | ||||||||||||||||||
return of capital
|
| | | | | | ||||||||||||||||||
Source (on a cash basis)
|
||||||||||||||||||||||||
sales
|
| | | | | | ||||||||||||||||||
refinancing
|
| | | | | | ||||||||||||||||||
operations
|
| 51.95 | 65.00 | | 61.54 | 65.00 | ||||||||||||||||||
other
|
| | | | | | ||||||||||||||||||
Amount (in percentage terms)
remaining invested in program properties at the end of last year
reported in the table
|
100 | % | 100 | % |
24
Walgreens- |
Home Depot- |
|||||||||||||||||||||||
Richmond Heights, OH |
Spokane, WA |
|||||||||||||||||||||||
October 2004 | November 2004 | |||||||||||||||||||||||
2004 | 2005 | 2006 | 2004 | 2005 | 2006 | |||||||||||||||||||
Gross revenues
|
$ | | $ | 423,387 | $ | 420,807 | $ | | $ | 1,014,839 | $ | 1,323,040 | ||||||||||||
Profit (loss) on sale of properties
|
| | | | | | ||||||||||||||||||
Less:
|
||||||||||||||||||||||||
Operating expenses(4)
|
| 18,416 | 17,830 | | 12,592 | 12,670 | ||||||||||||||||||
Interest expense
|
| 173,029 | 182,004 | | 394,654 | 551,910 | ||||||||||||||||||
Depreciation and amortization(3)
|
| | | | | | ||||||||||||||||||
Net income
(loss) Tax basis(6)
|
$ | | $ | 231,942 | $ | 220,973 | $ | | $ | 607,593 | $ | 758,459 | ||||||||||||
Taxable income
|
||||||||||||||||||||||||
from operations
|
$ | | $ | 231,942 | $ | 220,973 | $ | | $ | 607,593 | $ | 758,459 | ||||||||||||
from gain on sale
|
| | | | | | ||||||||||||||||||
Cash generated
|
||||||||||||||||||||||||
from operations(5)
|
| 231,942 | 220,973 | | 607,593 | 758,459 | ||||||||||||||||||
from sales
|
| | | | | | ||||||||||||||||||
from refinancing
|
| | | | | | ||||||||||||||||||
Cash generated from operations,
sales and refinancing
|
| 231,942 | 220,973 | | 607,593 | 758,459 | ||||||||||||||||||
Less: Cash distributions to
investors
|
||||||||||||||||||||||||
from operating cash
flow
|
| 203,676 | 220,220 | | 514,099 | 749,580 | ||||||||||||||||||
from sales and
refinancing
|
| | | | | | ||||||||||||||||||
from other
|
| | | | | | ||||||||||||||||||
Cash generated (deficiency) after
cash distributions
|
| 28,266 | 753 | | 93,494 | 8,879 | ||||||||||||||||||
Less: Special items (not including
sales and refinancing)
|
| | | | | | ||||||||||||||||||
Cash generated (deficiency) after
cash distributions and special items
|
$ | | $ | 28,266 | $ | 753 | $ | | $ | 93,494 | $ | 8,879 | ||||||||||||
Tax and Distribution Data Per
$1,000 Invested
|
||||||||||||||||||||||||
Federal income tax results:
|
||||||||||||||||||||||||
Ordinary income (loss)
|
||||||||||||||||||||||||
from operations
|
$ | | $ | 68.46 | $ | 65.22 | $ | | $ | 52.69 | $ | 65.77 | ||||||||||||
from recapture
|
| | | | | | ||||||||||||||||||
Capital gain (loss)
|
| | | | | | ||||||||||||||||||
Cash distributions to investors:
|
||||||||||||||||||||||||
Source (on a tax basis)
|
||||||||||||||||||||||||
investment
|
||||||||||||||||||||||||
income
|
| 60.12 | 65.00 | | 44.58 | 65.00 | ||||||||||||||||||
return of capital
|
| | | | | | ||||||||||||||||||
Source (on a cash basis)
|
||||||||||||||||||||||||
sales
|
| | | | | | ||||||||||||||||||
refinancing
|
| | | | | | ||||||||||||||||||
operations
|
| 60.12 | 65.00 | | 44.58 | 65.00 | ||||||||||||||||||
other
|
| | | | | | ||||||||||||||||||
Amount (in percentage terms)
remaining invested in program properties at the end of last year
reported in the table
|
100 | % | 100 | % |
25
Walgreens- |
Walgreens- |
|||||||||||||||||||||||
Orlando, FL |
Glen Burnie, MD |
|||||||||||||||||||||||
November 2004 | November 2004 | |||||||||||||||||||||||
2004 | 2005 | 2006 | 2004 | 2005 | 2006 | |||||||||||||||||||
Gross revenues
|
$ | | $ | 232,208 | $ | 300,483 | $ | | $ | 312,387 | $ | 416,142 | ||||||||||||
Profit (loss) on sale of properties
|
| | | | | | ||||||||||||||||||
Less:
|
||||||||||||||||||||||||
Operating expenses(4)
|
| 10,463 | 13,562 | | 13,428 | 17,695 | ||||||||||||||||||
Interest expense
|
| 90,054 | 124,904 | | 119,319 | 169,158 | ||||||||||||||||||
Depreciation and amortization(3)
|
| | | | | | ||||||||||||||||||
Net income
(loss) Tax basis(6)
|
$ | | $ | 131,691 | $ | 162,017 | $ | | $ | 179,640 | $ | 229,289 | ||||||||||||
Taxable income
|
||||||||||||||||||||||||
from operations
|
$ | | $ | 131,691 | $ | 162,017 | $ | | $ | 179,640 | $ | 229,289 | ||||||||||||
from gain on sale
|
| | | | | | ||||||||||||||||||
Cash generated
|
||||||||||||||||||||||||
from operations(5)
|
| 131,691 | 162,017 | | 179,640 | 229,289 | ||||||||||||||||||
from sales
|
| | | | | | ||||||||||||||||||
from refinancing
|
| | | | | | ||||||||||||||||||
Cash generated from operations,
sales and refinancing
|
| 131,691 | 162,017 | | 179,640 | 229,289 | ||||||||||||||||||
Less: Cash distributions to
investors
|
||||||||||||||||||||||||
from operating cash
flow
|
| 111,711 | 161,592 | | 151,637 | 226,524 | ||||||||||||||||||
from sales and
refinancing
|
| | | | | | ||||||||||||||||||
from other
|
| | | | | | ||||||||||||||||||
Cash generated (deficiency) after
cash distributions
|
| 19,980 | 425 | | 28,003 | 2,765 | ||||||||||||||||||
Less: Special items (not including
sales and refinancing)
|
| | | | | | ||||||||||||||||||
Cash generated (deficiency) after
cash distributions and special items
|
$ | | $ | 19,980 | $ | 425 | $ | | $ | 28,003 | $ | 2,765 | ||||||||||||
Tax and Distribution Data Per
$1,000 Invested
|
||||||||||||||||||||||||
Federal income tax results:
|
||||||||||||||||||||||||
Ordinary income (loss)
|
||||||||||||||||||||||||
from operations
|
$ | | $ | 52.97 | $ | 65.17 | $ | | $ | 51.55 | $ | 65.79 | ||||||||||||
from recapture
|
| | | | | | ||||||||||||||||||
Capital gain (loss)
|
| | | | | | ||||||||||||||||||
Cash distributions to investors:
|
||||||||||||||||||||||||
Source (on a tax basis)
|
||||||||||||||||||||||||
investment income
|
| 44.94 | 65.00 | | 43.51 | 65.00 | ||||||||||||||||||
return of capital
|
| | | | | | ||||||||||||||||||
Source (on a cash basis)
|
||||||||||||||||||||||||
sales
|
| | | | | | ||||||||||||||||||
refinancing
|
| | | | | | ||||||||||||||||||
operations
|
| 44.94 | 65.00 | | 43.51 | 65.00 | ||||||||||||||||||
other
|
| | | | | | ||||||||||||||||||
Amount (in percentage terms)
remaining invested in program properties at the end of last year
reported in the table
|
100 | % | 100 | % |
26
Walgreens- |
Walgreens- |
|||||||||||||||||||||||
Covington, TN |
Garfield Heights, OH |
|||||||||||||||||||||||
December 2004 | December 2004 | |||||||||||||||||||||||
2004 | 2005 | 2006 | 2004 | 2005 | 2006 | |||||||||||||||||||
Gross revenues
|
$ | | $ | 237,696 | $ | 261,606 | $ | | $ | 145,569 | $ | 385,036 | ||||||||||||
Profit (loss) on sale of properties
|
| | | | | | ||||||||||||||||||
Less:
|
||||||||||||||||||||||||
Operating expenses(4)
|
| 10,629 | 11,782 | | 1,893 | 3,936 | ||||||||||||||||||
Interest expense
|
| 93,795 | 110,081 | | 54,853 | 169,672 | ||||||||||||||||||
Depreciation and amortization(3)
|
| | | | | | ||||||||||||||||||
Net income
(loss) Tax basis(6)
|
$ | | $ | 133,272 | $ | 139,743 | $ | | $ | 88,823 | $ | 211,428 | ||||||||||||
Taxable income
|
||||||||||||||||||||||||
from operations
|
$ | | 133,272 | 139,743 | $ | | $ | 88,823 | $ | 211,428 | ||||||||||||||
from gain on sale
|
| | | | | | ||||||||||||||||||
Cash generated from
operations(5)
|
| 133,272 | 139,743 | | 88,823 | 211,428 | ||||||||||||||||||
from sales
|
| | | | | | ||||||||||||||||||
from refinancing
|
| | | | | | ||||||||||||||||||
Cash generated from operations,
sales and refinancing
|
| 133,272 | 139,743 | | 88,823 | 211,428 | ||||||||||||||||||
Less: Cash distributions to
investors
|
||||||||||||||||||||||||
from operating cash
flow
|
| 114,287 | 139,165 | | 62,999 | 212,424 | ||||||||||||||||||
from sales and
refinancing
|
| | | | | | ||||||||||||||||||
from other
|
| | | | | | ||||||||||||||||||
Cash generated (deficiency) after
cash distributions
|
| 18,985 | 578 | | 25,824 | (996 | ) | |||||||||||||||||
Less: Special items (not including
sales and refinancing)
|
| | | | | | ||||||||||||||||||
Cash generated (deficiency) after
cash distributions and special items
|
$ | | $ | 18,985 | $ | 578 | $ | | $ | 25,824 | $ | (996 | ) | |||||||||||
Tax and Distribution Data Per
$1,000 Invested
|
||||||||||||||||||||||||
Federal income tax results:
|
||||||||||||||||||||||||
Ordinary income (loss)
|
||||||||||||||||||||||||
from operations
|
$ | | $ | 62.25 | $ | 65.27 | $ | | $ | 30.32 | $ | 72.16 | ||||||||||||
from recapture
|
| | | | | | ||||||||||||||||||
Capital gain (loss)
|
| | | | | | ||||||||||||||||||
Cash distributions to investors:
|
||||||||||||||||||||||||
Source (on a tax basis)
|
||||||||||||||||||||||||
investment income
|
| 53.38 | 65.00 | | 21.50 | 72.50 | ||||||||||||||||||
return of capital
|
| | | | | | ||||||||||||||||||
Source (on a cash basis)
|
||||||||||||||||||||||||
sales
|
| | | | | | ||||||||||||||||||
refinancing
|
| | | | | | ||||||||||||||||||
operations
|
| 53.38 | 65.00 | | 21.50 | 72.50 | ||||||||||||||||||
other
|
| | | | | | ||||||||||||||||||
Amount (in percentage terms)
remaining invested in program properties at the end of last year
reported in the table
|
100 | % | 100 | % |
27
Walgreens- |
Home Depot- |
|||||||||||||||||||
Ponca City, OK |
Tacoma, WA |
|||||||||||||||||||
December 2004 | February 2005 | |||||||||||||||||||
2004 | 2005 | 2006 | 2005 | 2006 | ||||||||||||||||
Gross revenues
|
$ | | $ | 118,085 | $ | 312,409 | $ | 1,051,101 | $ | 1,750,475 | ||||||||||
Profit (loss) on sale of properties
|
| | | | | |||||||||||||||
Less:
|
||||||||||||||||||||
Operating expenses(4)
|
| 1,477 | 3,272 | 35,286 | 53,645 | |||||||||||||||
Interest expense
|
| 44,763 | 138,460 | 461,947 | 843,053 | |||||||||||||||
Depreciation and amortization(3)
|
| | | | | |||||||||||||||
Net income
(loss) Tax basis(6)
|
$ | | $ | 71,845 | $ | 170,676 | $ | 553,868 | $ | 853,777 | ||||||||||
Taxable income
|
||||||||||||||||||||
from operations
|
$ | | $ | 71,845 | $ | 170,676 | $ | 553,868 | $ | 853,777 | ||||||||||
from gain on sale
|
| | | | | |||||||||||||||
Cash generated
|
||||||||||||||||||||
from operations(5)
|
| 71,845 | 170,676 | 553,868 | 853,777 | |||||||||||||||
from sales
|
| | | | | |||||||||||||||
from refinancing
|
| | | | | |||||||||||||||
Cash generated from operations,
sales and refinancing
|
| 71,845 | 170,676 | 553,868 | 853,777 | |||||||||||||||
Less: Cash distributions to
investors
|
||||||||||||||||||||
from operating cash
flow
|
| 50,034 | 168,708 | 426,665 | 821,808 | |||||||||||||||
from sales and
refinancing
|
| | | | | |||||||||||||||
from other
|
| | | | | |||||||||||||||
Cash generated (deficiency) after
cash distributions
|
| 21,811 | 1,968 | 127,203 | 31,969 | |||||||||||||||
Less: Special items (not including
sales and refinancing)
|
| | | | | |||||||||||||||
Cash generated (deficiency) after
cash distributions and special items
|
$ | | $ | 21,811 | $ | 1,968 | $ | 127,203 | $ | 31,969 | ||||||||||
Tax and Distribution Data Per
$1,000 Invested
|
||||||||||||||||||||
Federal income tax results:
|
||||||||||||||||||||
Ordinary income (loss)
|
||||||||||||||||||||
from operations
|
$ | | $ | 30.87 | $ | 73.35 | $ | 45.49 | $ | 70.13 | ||||||||||
from recapture
|
| | | | | |||||||||||||||
Capital gain (loss)
|
| | | | | |||||||||||||||
Cash distributions to investors:
|
||||||||||||||||||||
Source (on a tax basis)
|
||||||||||||||||||||
investment income
|
| 21.50 | 72.50 | 35.04 | 67.50 | |||||||||||||||
return of capital
|
| | | | | |||||||||||||||
Source (on a cash basis)
|
||||||||||||||||||||
sales
|
| | | | | |||||||||||||||
refinancing
|
| | | | | |||||||||||||||
operations
|
| 21.50 | 72.50 | 35.04 | 67.50 | |||||||||||||||
other
|
| | | | | |||||||||||||||
Amount (in percentage terms)
remaining invested in program properties at the end of last year
reported in the table
|
100 | % | 100 | % |
28
Walgreens- |
Walgreens- |
Walgreens- |
||||||||||||||||||||||
Pineville, LA |
Bartlett, TN |
Sidney, OH |
||||||||||||||||||||||
April 2005 | April 2005 | April 2005 | ||||||||||||||||||||||
2005 | 2006 | 2005 | 2006 | 2005 | 2006 | |||||||||||||||||||
Gross revenues
|
$ | 155,136 | $ | 304,247 | $ | 148,334 | $ | 295,747 | $ | 150,793 | $ | 295,791 | ||||||||||||
Profit (loss) on sale of properties
|
| | | | | | ||||||||||||||||||
Less:
|
||||||||||||||||||||||||
Operating expenses(4)
|
5,636 | 7,168 | 4,352 | 5,575 | 4,562 | 7,030 | ||||||||||||||||||
Interest expense
|
65,763 | 143,734 | 63,835 | 142,071 | 65,761 | 143,730 | ||||||||||||||||||
Depreciation and amortization(3)
|
| | | | | | ||||||||||||||||||
Net income
(loss) Tax basis(6)
|
$ | 83,737 | $ | 153,345 | $ | 80,147 | $ | 148,101 | $ | 80,470 | $ | 145,031 | ||||||||||||
Taxable income
|
||||||||||||||||||||||||
from operations
|
$ | 83,737 | $ | 153,345 | $ | 80,147 | $ | 148,101 | $ | 80,470 | $ | 145,031 | ||||||||||||
from gain on sale
|
| | | | | | ||||||||||||||||||
Cash generated
|
||||||||||||||||||||||||
from operations(5)
|
83,737 | 153,345 | 80,147 | 148,101 | 80,470 | 145,031 | ||||||||||||||||||
from sales
|
| | | | | | ||||||||||||||||||
from refinancing
|
| | | | | | ||||||||||||||||||
Cash generated from operations,
sales and refinancing
|
83,737 | 153,345 | 80,147 | 148,101 | 80,470 | 145,031 | ||||||||||||||||||
Less: Cash distributions to
investors
|
||||||||||||||||||||||||
from operating cash
flow
|
64,858 | 151,670 | 61,482 | 146,592 | 61,230 | 143,184 | ||||||||||||||||||
from sales and
refinancing
|
| | | | | | ||||||||||||||||||
from other
|
| | | | | | ||||||||||||||||||
Cash generated (deficiency) after
cash distributions
|
18,879 | 1,675 | 18,665 | 1,509 | 19,240 | 1,847 | ||||||||||||||||||
Less: Special items (not including
sales and refinancing)
|
| | | | | | ||||||||||||||||||
Cash generated (deficiency) after
cash distributions and special items
|
$ | 18,879 | $ | 1,675 | $ | 18,665 | $ | 1,509 | $ | 19,240 | $ | 1,847 | ||||||||||||
Tax and Distribution Data Per
$1,000 Invested
|
||||||||||||||||||||||||
Federal income tax results:
|
||||||||||||||||||||||||
Ordinary income (loss)
|
||||||||||||||||||||||||
from operations
|
$ | 40.03 | $ | 73.30 | $ | 39.64 | $ | 73.24 | $ | 40.74 | $ | 73.43 | ||||||||||||
from recapture
|
| | | | | | ||||||||||||||||||
Capital gain (loss)
|
| | | | | | ||||||||||||||||||
Cash distributions to investors:
|
||||||||||||||||||||||||
Source (on a tax basis)
|
||||||||||||||||||||||||
investment income
|
31.00 | 72.50 | 30.41 | 72.50 | 31.00 | 72.50 | ||||||||||||||||||
return of capital
|
| | | | | | ||||||||||||||||||
Source (on a cash basis)
|
||||||||||||||||||||||||
sales
|
| | | | | | ||||||||||||||||||
refinancing
|
| | | | | | ||||||||||||||||||
operations
|
31.00 | 72.50 | 30.41 | 72.50 | 31.00 | 72.50 | ||||||||||||||||||
other
|
| | | | | | ||||||||||||||||||
Amount (in percentage terms)
remaining invested in program properties at the end of last year
reported in the table
|
100 | % | 100 | % | 100 | % |
29
Walgreens- |
Walgreens- |
Walgreens- |
||||||||||||||||||||||
Wichita Falls, TX |
Chicago, IL |
Southington, CT |
||||||||||||||||||||||
May 2005 | May 2005 | June 2005 | ||||||||||||||||||||||
2005 | 2006 | 2005 | 2006 | 2005 | 2006 | |||||||||||||||||||
Gross revenues
|
$ | 153,348 | $ | 300,722 | $ | 228,585 | $ | 476,231 | $ | 198,989 | $ | 414,555 | ||||||||||||
Profit (loss) on sale of properties
|
| | | | | | ||||||||||||||||||
Less:
|
| | | | | | ||||||||||||||||||
Operating expenses(4)
|
4,352 | 6,949 | 7,058 | 9,830 | 6,140 | 8,643 | ||||||||||||||||||
Interest expense
|
66,573 | 145,505 | 98,204 | 229,773 | 84,966 | 198,182 | ||||||||||||||||||
Depreciation and amortization(3)
|
| | | | | | ||||||||||||||||||
Net income
(loss) Tax basis(6)
|
$ | 82,423 | $ | 148,268 | $ | 123,323 | $ | 236,628 | $ | 107,883 | $ | 207,730 | ||||||||||||
Taxable income
|
||||||||||||||||||||||||
from operations
|
$ | 82,423 | $ | 148,268 | $ | 123,323 | $ | 236,628 | $ | 107,883 | $ | 207,730 | ||||||||||||
from gain on sale
|
| | | | | | ||||||||||||||||||
Cash generated
|
||||||||||||||||||||||||
from operations(5)
|
82,423 | 148,268 | 123,323 | 236,628 | 107,883 | 207,730 | ||||||||||||||||||
from sales
|
| | | | | | ||||||||||||||||||
from refinancing
|
| | | | | | ||||||||||||||||||
Cash generated from operations,
sales and refinancing
|
82,423 | 148,268 | 123,323 | 236,628 | 107,883 | 207,730 | ||||||||||||||||||
Less: Cash distributions to
investors
|
| | | | | | ||||||||||||||||||
from operating cash
flow
|
62,626 | 146,448 | 93,600 | 234,540 | 82,056 | 205,608 | ||||||||||||||||||
from sales and
refinancing
|
| | | | | | ||||||||||||||||||
from other
|
| | | | | | ||||||||||||||||||
Cash generated (deficiency) after
cash distributions
|
19,797 | 1,820 | 29,723 | 2,088 | 25,827 | 2,122 | ||||||||||||||||||
Less: Special items (not including
sales and refinancing)
|
| | | | | | ||||||||||||||||||
Cash generated (deficiency) after
cash distributions and special items
|
$ | 19,797 | $ | 1,820 | $ | 29,723 | $ | 2,088 | $ | 25,827 | $ | 2,122 | ||||||||||||
Tax and Distribution Data Per
$1,000 Invested
|
||||||||||||||||||||||||
Federal income tax results:
|
||||||||||||||||||||||||
Ordinary income (loss)
|
||||||||||||||||||||||||
from operations
|
$ | 40.80 | $ | 73.40 | $ | 38.12 | $ | 73.15 | $ | 38.04 | $ | 73.25 | ||||||||||||
from recapture
|
| | | | | | ||||||||||||||||||
Capital gain (loss)
|
| | | | | | ||||||||||||||||||
Cash distributions to investors:
|
||||||||||||||||||||||||
Source (on a tax basis)
|
||||||||||||||||||||||||
investment income
|
31.00 | 72.50 | 28.93 | 72.50 | 28.93 | 72.50 | ||||||||||||||||||
return of capital
|
| | | | | | ||||||||||||||||||
Source (on a cash basis)
|
||||||||||||||||||||||||
sales
|
| | | | | | ||||||||||||||||||
refinancing
|
| | | | | | ||||||||||||||||||
operations
|
31.00 | 72.50 | 28.93 | 72.50 | 28.93 | 72.50 | ||||||||||||||||||
other
|
| | | | | | ||||||||||||||||||
Amount (in percentage terms)
remaining invested in program properties at the end of last year
reported in the table
|
100 | % | 100 | % | 100 | % |
30
Walgreens- |
Walgreens- |
Gander Mountain- |
||||||||||||||||||||||
Nashville, TN |
Derby, KS |
Spring, TX |
||||||||||||||||||||||
June 2005 | June 2005 | June 2005 | ||||||||||||||||||||||
2005 | 2006 | 2005 | 2006 | 2005 | 2006 | |||||||||||||||||||
Gross revenues
|
$ | 158,605 | $ | 381,569 | $ | 134,493 | $ | 345,824 | $ | 335,027 | $ | 1,008,049 | ||||||||||||
Profit (loss) on sale of properties
|
| | | | | | ||||||||||||||||||
Less:
|
| | | | | | ||||||||||||||||||
Operating expenses(4)
|
5,122 | 8,211 | 6,648 | 15,835 | 3,429 | 8,490 | ||||||||||||||||||
Interest expense
|
67,551 | 186,790 | 55,839 | 167,060 | | | ||||||||||||||||||
Depreciation and amortization(3)
|
| | | | | | ||||||||||||||||||
Net income
(loss) Tax basis(6)
|
$ | 85,932 | $ | 186,568 | $ | 72,006 | $ | 162,930 | $ | 331,598 | $ | 999,559 | ||||||||||||
Taxable income
|
||||||||||||||||||||||||
from operations
|
$ | 85,932 | $ | 186,568 | $ | 72,006 | $ | 162,930 | $ | 331,598 | $ | 999,559 | ||||||||||||
from gain on sale
|
| | | | | | ||||||||||||||||||
Cash generated
|
||||||||||||||||||||||||
from operations(5)
|
85,932 | 186,568 | 72,006 | 162,930 | 331,598 | 999,559 | ||||||||||||||||||
from sales
|
| | | | | | ||||||||||||||||||
from refinancing
|
| | | | | | ||||||||||||||||||
Cash generated from operations,
sales and refinancing
|
85,932 | 186,568 | 72,006 | 162,930 | 331,598 | 999,559 | ||||||||||||||||||
Less: Cash distributions to
investors
|
| | | | | | ||||||||||||||||||
from operating cash
flow
|
61,775 | 184,440 | 50,396 | 163,872 | 249,273 | 986,268 | ||||||||||||||||||
from sales and
refinancing
|
| | | | | | ||||||||||||||||||
from other
|
| | | | | | ||||||||||||||||||
Cash generated (deficiency) after
cash distributions
|
24,157 | 2,128 | 21,610 | (942 | ) | 82,325 | 13,291 | |||||||||||||||||
Less: Special items (not including
sales and refinancing)
|
| | | | | | ||||||||||||||||||
Cash generated (deficiency) after
cash distributions and special items
|
$ | 24,157 | $ | 2,128 | $ | 21,610 | $ | (942 | ) | $ | 82,325 | $ | 13,291 | |||||||||||
Tax and Distribution Data Per
$1,000 Invested
|
||||||||||||||||||||||||
Federal income tax results:
|
||||||||||||||||||||||||
Ordinary income (loss)
|
||||||||||||||||||||||||
from operations
|
$ | 33.78 | $ | 73.34 | $ | 30.76 | $ | 69.60 | $ | 25.22 | $ | 76.01 | ||||||||||||
from recapture
|
| | | | | | ||||||||||||||||||
Capital gain (loss)
|
| | | | | | ||||||||||||||||||
Cash distributions to investors:
|
||||||||||||||||||||||||
Source (on a tax basis)
|
||||||||||||||||||||||||
investment income
|
24.28 | 72.50 | 21.53 | 70.00 | 18.96 | 75.00 | ||||||||||||||||||
return of capital
|
| | | | | | ||||||||||||||||||
Source (on a cash basis)
|
||||||||||||||||||||||||
sales
|
| | | | | | ||||||||||||||||||
refinancing
|
| | | | | | ||||||||||||||||||
operations
|
24.28 | 72.50 | 21.53 | 70.00 | 18.96 | 75.00 | ||||||||||||||||||
other
|
| | | | | | ||||||||||||||||||
Amount (in percentage terms)
remaining invested in program properties at the end of last year
reported in the table
|
100 | % | 100 | % | 100 | % |
31
Walgreens- |
Walgreens- |
Walgreens- |
||||||||||||||||||||||
Blue Springs, MO |
Garden City, KS |
Pittsburg, KS |
||||||||||||||||||||||
June 2005 | June 2005 | June 2005 | ||||||||||||||||||||||
2005 | 2006 | 2005 | 2006 | 2005 | 2006 | |||||||||||||||||||
Gross revenues
|
$ | 102,520 | $ | 278,833 | $ | 129,075 | $ | 334,224 | $ | 102,883 | $ | 295,304 | ||||||||||||
Profit (loss) on sale of properties
|
| | | | | | ||||||||||||||||||
Less:
|
||||||||||||||||||||||||
Operating expenses(4)
|
5,767 | 10,823 | 6,489 | 15,421 | 5,512 | 13,895 | ||||||||||||||||||
Interest expense
|
46,108 | 129,690 | 53,531 | 161,478 | 35,488 | 140,795 | ||||||||||||||||||
Depreciation and amortization(3)
|
| | | | | | ||||||||||||||||||
Net income
(loss) Tax basis(6)
|
$ | 50,645 | $ | 138,319 | $ | 69,055 | $ | 157,325 | $ | 61,883 | $ | 140,613 | ||||||||||||
Taxable income
|
||||||||||||||||||||||||
from operations
|
$ | 50,645 | $ | 138,319 | $ | 69,055 | $ | 157,325 | $ | 61,883 | $ | 140,613 | ||||||||||||
from gain on sale
|
| | | | | | ||||||||||||||||||
Cash generated
|
||||||||||||||||||||||||
from operations(5)
|
50,645 | 138,319 | 69,055 | 157,325 | 61,883 | 140,613 | ||||||||||||||||||
from sales
|
| | | | | | ||||||||||||||||||
from refinancing
|
| | | | | | ||||||||||||||||||
Cash generated from operations,
sales and refinancing
|
50,645 | 138,319 | 69,055 | 157,325 | 61,883 | 140,613 | ||||||||||||||||||
Less: Cash distributions to
investors
|
||||||||||||||||||||||||
from operating cash
flow
|
37,809 | 132,384 | 48,197 | 158,136 | 37,600 | 141,120 | ||||||||||||||||||
from sales and
refinancing
|
| | | | | | ||||||||||||||||||
from other
|
| | | | | | ||||||||||||||||||
Cash generated (deficiency) after
cash distributions
|
12,836 | 5,935 | 20,858 | (811 | ) | 24,283 | (507 | ) | ||||||||||||||||
Less: Special items (not including
sales and refinancing)
|
| | | | | | ||||||||||||||||||
Cash generated (deficiency) after
cash distributions and special items
|
$ | 12,836 | $ | 5,935 | $ | 20,858 | $ | (811 | ) | $ | 24,283 | $ | (507 | ) | ||||||||||
Tax and Distribution Data Per
$1,000 Invested
|
||||||||||||||||||||||||
Federal income tax results:
|
||||||||||||||||||||||||
Ordinary income (loss)
|
||||||||||||||||||||||||
from operations
|
$ | 26.78 | $ | 73.15 | $ | 30.57 | $ | 69.64 | $ | 30.70 | $ | 69.75 | ||||||||||||
from recapture
|
| | | | | | ||||||||||||||||||
Capital gain (loss)
|
| | | | | | ||||||||||||||||||
Cash distributions to investors:
|
||||||||||||||||||||||||
Source (on a tax basis)
|
||||||||||||||||||||||||
investment income
|
19.99 | 70.01 | 21.34 | 70.00 | 18.65 | 70.00 | ||||||||||||||||||
return of capital
|
| | | | | | ||||||||||||||||||
Source (on a cash basis)
|
||||||||||||||||||||||||
sales
|
| | | | | | ||||||||||||||||||
refinancing
|
| | | | | | ||||||||||||||||||
operations
|
19.99 | 70.01 | 21.34 | 70.00 | 18.65 | 70.00 | ||||||||||||||||||
other
|
| | | | | | ||||||||||||||||||
Amount (in percentage terms)
remaining invested in program properties at the end of last year
reported in the table
|
100 | % | 100 | % | 100 | % |
32
Walgreens- |
Walgreens- |
Walgreens- |
||||||||||||||||||||||
Gladstone, MO |
Salt Lake City, UT |
Sandy, UT |
||||||||||||||||||||||
June 2005 | July 2005 | July 2005 | ||||||||||||||||||||||
2005 | 2006 | 2005 | 2006 | 2005 | 2006 | |||||||||||||||||||
Gross revenues
|
$ | 132,411 | $ | 395,426 | $ | 124,866 | $ | 511,918 | $ | 122,931 | $ | 503,524 | ||||||||||||
Profit (loss) on sale of properties
|
| | | | | | ||||||||||||||||||
Less:
|
||||||||||||||||||||||||
Operating expenses(4)
|
7,731 | 17,633 | 7,013 | 17,712 | 7,049 | 17,501 | ||||||||||||||||||
Interest expense
|
45,975 | 204,644 | 63,197 | 250,246 | 64,034 | 246,775 | ||||||||||||||||||
Depreciation and amortization(3)
|
| | | | | | ||||||||||||||||||
Net income
(loss) Tax basis(6)
|
$ | 78,705 | $ | 173,149 | $ | 54,656 | $ | 243,961 | $ | 51,848 | $ | 239,248 | ||||||||||||
Taxable income
|
||||||||||||||||||||||||
from operations
|
$ | 78,705 | $ | 173,149 | $ | 54,656 | $ | 243,961 | $ | 51,848 | $ | 239,248 | ||||||||||||
from gain on sale
|
| | | | | | ||||||||||||||||||
Cash generated
|
||||||||||||||||||||||||
from operations(5)
|
78,705 | 173,149 | 54,656 | 243,961 | 51,848 | 239,248 | ||||||||||||||||||
from sales
|
| | | | | | ||||||||||||||||||
from refinancing
|
| | | | | | ||||||||||||||||||
Cash generated from operations,
sales and refinancing
|
78,705 | 173,149 | 54,656 | 243,961 | 51,848 | 239,248 | ||||||||||||||||||
Less: Cash distributions to
investors
|
||||||||||||||||||||||||
from operating cash
flow
|
55,486 | 158,450 | 40,825 | 216,492 | 40,776 | 216,228 | ||||||||||||||||||
from sales and
refinancing
|
| | | | | | ||||||||||||||||||
from other
|
| | | | | | ||||||||||||||||||
Cash generated (deficiency) after
cash distributions
|
23,219 | 14,699 | 13,831 | 27,469 | 11,072 | 23,020 | ||||||||||||||||||
Less: Special items (not including
sales and refinancing)
|
| | | | | | ||||||||||||||||||
Cash generated (deficiency) after
cash distributions and special items
|
$ | 23,219 | $ | 14,699 | $ | 13,831 | $ | 27,469 | $ | 11,072 | $ | 23,020 | ||||||||||||
Tax and Distribution Data Per
$1,000 Invested
|
||||||||||||||||||||||||
Federal income tax results:
|
||||||||||||||||||||||||
Ordinary income (loss)
|
||||||||||||||||||||||||
from operations
|
$ | 31.11 | $ | 68.44 | $ | 17.04 | $ | 76.07 | $ | 16.19 | $ | 74.70 | ||||||||||||
from recapture
|
| | | | | | ||||||||||||||||||
Capital gain (loss)
|
| | | | | | ||||||||||||||||||
Cash distributions to investors:
|
||||||||||||||||||||||||
Source (on a tax basis)
|
||||||||||||||||||||||||
investment income
|
21.93 | 62.63 | 12.73 | 67.51 | 12.73 | 67.51 | ||||||||||||||||||
return of capital
|
| | | | | | ||||||||||||||||||
Source (on a cash basis)
|
||||||||||||||||||||||||
sales
|
| | | | | | ||||||||||||||||||
refinancing
|
| | | | | | ||||||||||||||||||
operations
|
21.93 | 62.63 | 12.73 | 67.51 | 12.73 | 67.51 | ||||||||||||||||||
other
|
| | | | | | ||||||||||||||||||
Amount (in percentage terms)
remaining invested in program properties at the end of last year
reported in the table
|
100 | % | 100 | % | 100 | % |
33
Walgreens- |
Walgreens- |
Wal-Mart- |
||||||||||||||||||||||
Midvale, UT |
Metairie, LA |
Hazard, KY |
||||||||||||||||||||||
August 2005 | August 2005 | September 2005 | ||||||||||||||||||||||
2005 | 2006 | 2005 | 2006 | 2005 | 2006 | |||||||||||||||||||
Gross revenues
|
$ | 87,586 | $ | 359,001 | $ | 4,355 | $ | 541,345 | $ | 319,334 | $ | 1,891,356 | ||||||||||||
Profit (loss) on sale of properties
|
| | | | | | ||||||||||||||||||
Less:
|
||||||||||||||||||||||||
Operating expenses(4)
|
5,676 | 13,095 | | 16,665 | 11,436 | 41,686 | ||||||||||||||||||
Interest expense
|
44,677 | 169,379 | | 258,179 | 120,349 | 1,071,401 | ||||||||||||||||||
Depreciation and amortization(3)
|
| | | | | | ||||||||||||||||||
Net income
(loss) Tax basis(6)
|
$ | 37,233 | $ | 176,527 | $ | 4,355 | $ | 266,501 | $ | 187,549 | $ | 778,270 | ||||||||||||
Taxable income
|
||||||||||||||||||||||||
from operations
|
$ | 37,233 | $ | 176,527 | $ | 4,355 | $ | 266,501 | $ | 187,549 | $ | 778,270 | ||||||||||||
from gain on sale
|
| | | | | | ||||||||||||||||||
Cash generated
|
||||||||||||||||||||||||
from operations(5)
|
37,233 | 176,527 | 4,355 | 266,501 | 187,549 | 778,270 | ||||||||||||||||||
from sales
|
| | | | | | ||||||||||||||||||
from refinancing
|
| | | | | | ||||||||||||||||||
Cash generated from operations,
sales and refinancing
|
37,233 | 176,527 | 4,355 | 266,501 | 187,549 | 778,270 | ||||||||||||||||||
Less: Cash distributions to
investors
|
||||||||||||||||||||||||
from operating cash
flow
|
29,597 | 156,937 | | 230,617 | 66,413 | 771,588 | ||||||||||||||||||
from sales and
refinancing
|
| | | | | | ||||||||||||||||||
from other
|
| | | | | | ||||||||||||||||||
Cash generated (deficiency) after
cash distributions
|
7,636 | 19,590 | 4,355 | 35,884 | 121,136 | 6,682 | ||||||||||||||||||
Less: Special items (not including
sales and refinancing)
|
| | | | | | ||||||||||||||||||
Cash generated (deficiency) after
cash distributions and special items
|
$ | 7,636 | $ | 19,590 | $ | 4,355 | $ | 35,884 | $ | 121,136 | $ | 6,682 | ||||||||||||
Tax and Distribution Data Per
$1,000 Invested
|
||||||||||||||||||||||||
Federal income tax results:
|
||||||||||||||||||||||||
Ordinary income (loss)
|
||||||||||||||||||||||||
from operations
|
$ | 16.24 | $ | 75.93 | $ | 3.02 | $ | 73.03 | $ | 14.83 | $ | 61.53 | ||||||||||||
from recapture
|
| | | | | | ||||||||||||||||||
Capital gain (loss)
|
| | | | | | ||||||||||||||||||
Cash distributions to investors:
|
||||||||||||||||||||||||
Source (on a tax basis)
|
||||||||||||||||||||||||
investment income
|
12.91 | 67.50 | | 63.20 | 5.25 | 61.00 | ||||||||||||||||||
return of capital
|
| | | | | | ||||||||||||||||||
Source (on a cash basis)
|
||||||||||||||||||||||||
sales
|
| | | | | | ||||||||||||||||||
refinancing
|
| | | | | | ||||||||||||||||||
operations
|
12.91 | 67.50 | | 63.20 | 5.25 | 61.00 | ||||||||||||||||||
other
|
| | | | | | ||||||||||||||||||
Amount (in percentage terms)
remaining invested in program properties at the end of last year
reported in the table
|
100 | % | 100 | % | 100 | % |
34
Gander Mountain |
Walgreens |
Kohls |
||||||||||||||||||||||
Hermantown, MN |
Best Buy Baytown, TX |
Natchitoches, LA |
Lakewood, CO |
|||||||||||||||||||||
September 2005 | October 2005 | November 2005 | November 2005 | |||||||||||||||||||||
2005 | 2006 | 2005 | 2006 | 2006 | 2006 | |||||||||||||||||||
Gross revenues
|
$ | 94,643 | $ | 885,140 | $ | 109,094 | $ | 489,624 | $ | 242,647 | $ | 1,009,577 | ||||||||||||
Profit (loss) on sale of properties
|
| | | | | | ||||||||||||||||||
Less:
|
||||||||||||||||||||||||
Operating expenses(4)
|
2,765 | 26,926 | 1,021 | 7,846 | 10,747 | 27,941 | ||||||||||||||||||
Interest expense
|
| | | | 116,328 | 524,194 | ||||||||||||||||||
Depreciation and amortization(3)
|
| | | | | | ||||||||||||||||||
Net income
(loss) Tax basis(6)
|
$ | 91,878 | $ | 858,213 | $ | 108,073 | $ | 481,779 | $ | 115,573 | $ | 457,443 | ||||||||||||
Taxable income
|
||||||||||||||||||||||||
from operations
|
$ | 91,878 | $ | 858,213 | $ | 108,073 | $ | 481,779 | $ | 115,573 | $ | 457,443 | ||||||||||||
from gain on sale
|
| | | | | | ||||||||||||||||||
Cash generated
|
||||||||||||||||||||||||
from operations(5)
|
91,878 | 858,213 | 108,073 | 481,779 | 115,573 | 457,443 | ||||||||||||||||||
from sales
|
| | | | | | ||||||||||||||||||
from refinancing
|
| | | | | | ||||||||||||||||||
Cash generated from operations,
sales and refinancing
|
91,878 | 858,213 | 108,073 | 481,779 | 115,573 | 457,443 | ||||||||||||||||||
Less: Cash distributions to
investors
|
||||||||||||||||||||||||
from operating cash
flow
|
18,885 | 861,636 | | 445,785 | 99,268 | 387,805 | ||||||||||||||||||
from sales and
refinancing
|
| | | | | | ||||||||||||||||||
from other
|
| | | | | | ||||||||||||||||||
Cash generated (deficiency) after
cash distributions
|
72,993 | (3,423 | ) | 108,073 | 35,993 | 16,305 | 69,638 | |||||||||||||||||
Less: Special items (not including
sales and refinancing)
|
| | | | | | ||||||||||||||||||
Cash generated (deficiency) after
cash distributions and special items
|
$ | 72,993 | $ | (3,423 | ) | $ | 108,073 | $ | 35,993 | $ | 16,305 | $ | 69,638 | |||||||||||
Tax and Distribution Data Per
$1,000 Invested
|
||||||||||||||||||||||||
Federal income tax results:
|
||||||||||||||||||||||||
Ordinary income (loss)
|
||||||||||||||||||||||||
from operations
|
$ | 8.23 | $ | 73.21 | $ | 94.06 | $ | 57.89 | $ | 65.55 | $ | 61.31 | ||||||||||||
from recapture
|
| | | | | | ||||||||||||||||||
Capital gain (loss)
|
| | | | | | ||||||||||||||||||
Cash distributions to investors:
|
||||||||||||||||||||||||
Source (on a tax basis)
|
||||||||||||||||||||||||
investment income
|
1.69 | 73.50 | | 53.56 | 56.31 | 51.98 | ||||||||||||||||||
return of capital
|
| | | | | | ||||||||||||||||||
Source (on a cash basis)
|
||||||||||||||||||||||||
sales
|
| | | | | | ||||||||||||||||||
refinancing
|
| | | | | | ||||||||||||||||||
operations
|
1.69 | 73.50 | | 53.56 | 56.31 | 51.98 | ||||||||||||||||||
other
|
| | | | | | ||||||||||||||||||
Amount (in percentage terms)
remaining invested in program properties at the end of last year
reported in the table
|
100 | % | 100 | % | 100 | % |
35
The Shoppes at |
||||||||||||||||||||||||
North Village St. |
Walgreens |
Kohls |
Home Depot- |
Cole Net Lease |
Cole Net Lease |
|||||||||||||||||||
Joseph, MO |
Sumter, SC |
St. Joseph, MO |
Bellingham, WA |
Portfolio I |
Portfolio II |
|||||||||||||||||||
December 2005 | January 2006 | February 2006 | April 2006 | May 2006 | June 2006 | |||||||||||||||||||
2006 | 2006 | 2006 | 2006 | 2006 | 2006 | |||||||||||||||||||
Gross revenues
|
$ | 2,824,347 | $ | 314,624 | $ | 564,619 | $ | 608,739 | $ | 583,357 | $ | 313,447 | ||||||||||||
Profit (loss) on sale of properties
|
| | | | | | ||||||||||||||||||
Less:
|
||||||||||||||||||||||||
Operating expenses(4)
|
871,927 | 14,066 | 159,442 | 14,676 | 26,130 | 4,849 | ||||||||||||||||||
Interest expense
|
1,094,702 | 158,325 | 190,758 | | 265,912 | 133,317 | ||||||||||||||||||
Depreciation and amortization(3)
|
| | | | | | ||||||||||||||||||
Net income
(loss) Tax basis(6)
|
$ | 857,718 | $ | 142,232 | $ | 214,419 | $ | 594,063 | $ | 291,315 | $ | 175,281 | ||||||||||||
Taxable income
|
||||||||||||||||||||||||
from operations
|
$ | 857,718 | $ | 142,232 | $ | 214,419 | $ | 594,063 | $ | 291,315 | $ | 175,281 | ||||||||||||
from gain on sale
|
| | | | | | ||||||||||||||||||
Cash generated
|
||||||||||||||||||||||||
from operations(5)
|
857,718 | 142,232 | 214,419 | 594,063 | 291,315 | 175,281 | ||||||||||||||||||
from sales
|
| | | | | | ||||||||||||||||||
from refinancing
|
| | | | | | ||||||||||||||||||
Cash generated from operations,
sales and refinancing
|
857,718 | 142,232 | 214,419 | 594,063 | 291,315 | 175,281 | ||||||||||||||||||
Less: Cash distributions to
investors
|
||||||||||||||||||||||||
from operating cash flow
|
808,917 | 121,169 | 132,308 | 463,771 | 203,698 | 77,402 | ||||||||||||||||||
from sales and
refinancing
|
| | | | | | ||||||||||||||||||
from other
|
| | | | | | ||||||||||||||||||
Cash generated (deficiency) after
cash distributions
|
48,801 | 21,063 | 82,111 | 130,292 | 87,617 | 97,879 | ||||||||||||||||||
Less: Special items (not including
sales and refinancing)
|
| | | | | | ||||||||||||||||||
Cash generated (deficiency) after
cash distributions and special items
|
$ | 48,801 | $ | 21,063 | $ | 82,111 | $ | 130,292 | $ | 87,617 | $ | 97,879 | ||||||||||||
Tax and Distribution Data Per
$1,000 Invested
|
||||||||||||||||||||||||
Federal income tax results:
|
||||||||||||||||||||||||
Ordinary income (loss)
|
||||||||||||||||||||||||
from operations
|
$ | 41.98 | $ | 66.09 | $ | 52.08 | $ | 24.05 | $ | 30.37 | $ | 17.51 | ||||||||||||
from recapture
|
| | | | | | ||||||||||||||||||
Capital gain (loss)
|
| | | | | | ||||||||||||||||||
Cash distributions to investors:
|
||||||||||||||||||||||||
Source (on a tax basis)
|
||||||||||||||||||||||||
investment income
|
39.59 | 56.31 | 32.14 | 18.78 | 21.24 | 7.73 | ||||||||||||||||||
return of capital
|
| | | | | | ||||||||||||||||||
Source (on a cash basis)
|
||||||||||||||||||||||||
sales
|
| | | | | | ||||||||||||||||||
refinancing
|
| | | | | | ||||||||||||||||||
operations
|
39.59 | 56.31 | 32.14 | 18.78 | 21.24 | 7.73 | ||||||||||||||||||
other
|
| | | | | | ||||||||||||||||||
Amount (in percentage terms)
remaining invested in program properties at the end of last year
reported in the table
|
100 | % | 100 | % | 100 | % | 100 | % | 100 | % | 100 | % |
36
Barrywoods |
||||||||
Crossing |
||||||||
Kansas City, |
Cole Net Lease |
|||||||
MO |
Portfolio III |
|||||||
July 2006 | December 2006 | |||||||
2006 | 2006 | |||||||
Gross revenues
|
$ | 969,929 | $ | | ||||
Profit (loss) on sale of properties
|
| | ||||||
Less:
|
||||||||
Operating expenses(4)
|
642,129 | | ||||||
Interest expense
|
126,766 | | ||||||
Depreciation and amortization(3)
|
| | ||||||
Net income
(loss) Tax basis(6)
|
$ | 201,034 | $ | | ||||
Taxable income
|
||||||||
from operations
|
$ | 201,034 | $ | | ||||
from gain on sale
|
| | ||||||
Cash generated
|
||||||||
from operations(5)
|
201,034 | | ||||||
from sales
|
| | ||||||
from refinancing
|
| | ||||||
Cash generated from operations,
sales and refinancing
|
201,034 | | ||||||
Less: Cash distributions to
investors
|
||||||||
from operating cash
flow
|
58,685 | | ||||||
from sales and
refinancing
|
| | ||||||
from other
|
| | ||||||
Cash generated (deficiency) after
cash distributions
|
142,349 | | ||||||
Less: Special items (not including
sales and refinancing)
|
| | ||||||
Cash generated (deficiency) after
cash distributions and special items
|
$ | 142,349 | $ | | ||||
Tax and Distribution Data Per
$1,000 Invested
|
||||||||
Federal income tax results:
|
||||||||
Ordinary income (loss)
|
||||||||
from operations
|
$ | 14.61 | $ | | ||||
from recapture
|
| | ||||||
Capital gain (loss)
|
| | ||||||
Cash distributions to investors:
|
||||||||
Source (on a tax basis)
|
||||||||
investment income
|
4.26 | | ||||||
return of capital
|
| | ||||||
Source (on a cash basis)
|
||||||||
sales
|
| | ||||||
refinancing
|
| | ||||||
operations
|
4.26 | | ||||||
other
|
| | ||||||
Amount (in percentage terms)
remaining invested in program properties at the end of last year
reported in the table
|
100 | % | 100 | % |
37
(1) | Cole Credit Property Trust, Inc. and Cole Credit Property Trust II, Inc. maintain their books on a GAAP basis of accounting rather than a tax basis. | |
(2) | Investors in this program receive interest at a specified rate per annum, which is included in interest expense. Therefore, tax and cash distribution data per $1,000 invested is not applicable. | |
(3) | Amortization of organizational costs is computed over a period of 60 months. Depreciation of commercial real property is determined on the straight-line method over an estimated useful life of 39 years. Leasehold interest are amortized over the life of the lease. | |
(4) | Operating expenses include management fees paid to affiliates for such services as accounting, property supervision, etc. | |
(5) | Cash generated from operations generally includes net income plus depreciation and amortization plus any decreases in accounts receivable and accrued rental income or increases in accounts payable minus any increases in accounts receivable and accrued rental income or decreases in accounts payable. In addition, cash generated from operations is reduced for any property costs related to development projects and is increased by proceeds when the project is sold (usually in less than twelve months). | |
(6) | The partnerships maintain their books on a tax basis of accounting rather than a GAAP basis. There are several potential differences in tax and GAAP basis, including, among others; (a) tax basis accounting does not take certain income or expense accruals into consideration at the end of each fiscal year, (b) rental income is recorded on a tax basis, as it is received where it is accrued on a straight-line basis over the life of the lease for GAAP, and (c) all properties are recorded at cost and depreciated over their estimated useful life on a tax basis even if they qualify as a direct financing lease for GAAP purposes. These differences generally result in timing differences between fiscal years but total operating income over the life of the partnership will not be significantly different between the two basis of accounting. |
38