Organization

Realmark Property Investors Limited Partnership - II (the Partnership), a Delaware Limited Partnership was formed on March 25, 1982, to invest in a diversified portfolio of income producing real estate investments. The general partners are Realmark Properties, Inc. (the corporate general partner) and Joseph M. Jayson (the individual general partner). Joseph M. Jayson is the sole stockholder of J.M. Jayson & Company Inc. Realmark Properties, Inc. is a wholly-owned subsidiary of J.M. Jayson & Company, Inc. Under the partnership agreement, the general partners and their affiliates receive compensation for services rendered and reimbursement for expenses incurred on behalf of the Partnership.

Basis of Presentation

The accompanying unaudited interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and the instructions to Form 10-Q. Accordingly, they do not include all of the information and notes required by accounting principles generally accepted in the United States of America for complete financial statements. The balance sheet at December 31, 2011 has been derived from the audited financial statements at that date. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation, have been included. The Partnership's significant accounting policies are set forth in its December 31, 2011 Form 10-K. The interim financial statements should be read in conjunction with the financial statements included therein. The interim results should not be considered indicative of the annual results.

Property and Equipment

At March 31, 2012, the Partnership owned and operated an office complex in Michigan (Northwind Office Park), and was a partner in two joint ventures. It has a 50% interest in Research Triangle Industrial Park Joint Venture with the other 50% owned by Realmark Property Investors Limited Partnership - VI A (RPILP - VI A), an entity affiliated through common general partners.

Investment in Research Triangle Industrial Park Joint Venture

The Partnership has a 50% interest in Research Triangle Industrial Park Joint Venture (the Venture) with Realmark Property Investors Limited Partnership - VI A (RPILP - VI A), an entity affiliated through common general partners. The joint venture owned and operated the Research Triangle Industrial Park West, an office/warehouse facility in Durham, North Carolina, which was sold in December 2006. The joint venture agreement provides that any income, loss, gain, cash flow, or sale proceeds be allocated 50% to the Partnership and 50% to RPILP - VI A. Summary financial information of the Venture follows:

Investment in Other Joint Ventures

At March 31, 2012, the Partnership also held an interest in a land joint venture with affiliated entities through common general partners. The investment in this joint ventures relates solely to land and its value is $21,181 as of March 31, 2012.

Balance Sheet Information

	(Unaudited)
	March 31,	December 31,
	2012	2011
Assets:
Cash and equivalents	$ 158,008	488,152
Receivable from affiliates	1,689,869	1,524,869
Accrued interest receivable	443,647	422,521

Total assets	$ 2,291,524	2,435,542

Liabilities - payables to affiliates	53,328	218,322


Partners' equity:
The Partnership	1,119,098	1,108,610
RPILP - VI A	1,119,098	1,108,610

Total partners' equity	2,238,196	2,217,220

Total liabilities and partners' equity	$ 2,291,524	2,435,542

Operating Information
(Unaudited)
	Three months ended March 31,

	2012	2011
Income:
Interest income	$ 21,134	21,126

Expenses:
Interest	17	3
Administrative	141	51

Total expenses	158	54

Net income	$ 20,976	21,072

Allocation of net income:
The Partnership	10,488	10,536
RPILP - VI A	10,488	10,536

	$ 20,976	21,072