SCHEDULE III - REAL ESTATE OWNED (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2019
Real Estate and Accumulated Depreciation
Encumbrances				$ 1,149,441
Initial Costs, Land and Land Improvements				2,160,917
Initial Costs, Buildings and Improvements				6,989,866
Total Initial Acquisition Costs				9,150,783
Costs of Improvements Capitalized Subsequent to Acquisition Costs				3,451,318
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				2,418,222
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				10,183,879
Total Carrying Value	$ 10,196,159	$ 10,177,206	$ 10,177,206	12,602,101
Accumulated Depreciation	3,654,160	3,330,166	3,330,166	4,131,353
Aggregate cost for federal income tax purposes				11,700,000
Reconciliation of the carrying amount of total real estate owned
Balance at beginning of the year	10,196,159	10,177,206	9,615,753
Real estate acquired	2,241,163		235,993
Capital expenditures and development	195,981	214,898	369,029
Real estate sold	(31,202)	(195,945)	(43,569)
Balance at end of the year	12,602,101	10,196,159	10,177,206
Reconciliation of total accumulated depreciation for real estate owned
Balance at beginning of the year	3,654,160	3,330,166	2,923,625
Depreciation expense for the year	477,193	426,006	424,772
Accumulated depreciation on sales		(102,012)	(18,231)
Balance at end of year	$ 4,131,353	$ 3,654,160	$ 3,330,166
Minimum
Real Estate and Accumulated Depreciation
Depreciable life for all buildings	30 years
Maximum
Real Estate and Accumulated Depreciation
Depreciable life for all buildings	55 years
REAL ESTATE UNDER DEVELOPMENT
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				29,226
Initial Costs, Buildings and Improvements				15,798
Total Initial Acquisition Costs				45,024
Costs of Improvements Capitalized Subsequent to Acquisition Costs				24,753
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				29,226
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				40,551
Total Carrying Value	$ 69,777			69,777
Accumulated Depreciation	23			23
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	69,777
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	23
REAL ESTATE UNDER DEVELOPMENT | Vitruvian West Phase 2
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				6,451
Initial Costs, Buildings and Improvements				15,798
Total Initial Acquisition Costs				22,249
Costs of Improvements Capitalized Subsequent to Acquisition Costs				2,558
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				6,451
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				18,356
Total Carrying Value	24,807			24,807
Accumulated Depreciation	23			23
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	24,807
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	23
REAL ESTATE UNDER DEVELOPMENT | Cirrus
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				13,853
Total Initial Acquisition Costs				13,853
Costs of Improvements Capitalized Subsequent to Acquisition Costs				12,759
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				13,853
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				12,759
Total Carrying Value	26,612			26,612
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	26,612
REAL ESTATE UNDER DEVELOPMENT | Dublin
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				8,922
Total Initial Acquisition Costs				8,922
Costs of Improvements Capitalized Subsequent to Acquisition Costs				9,436
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				8,922
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				9,436
Total Carrying Value	18,358			18,358
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	18,358
LAND
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				66,744
Initial Costs, Buildings and Improvements				4,997
Total Initial Acquisition Costs				71,741
Costs of Improvements Capitalized Subsequent to Acquisition Costs				15,874
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				73,801
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				13,814
Total Carrying Value	87,615			87,615
Accumulated Depreciation	2,489			2,489
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	87,615
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	2,489
LAND | Vitruvian Park
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				39,609
Initial Costs, Buildings and Improvements				4,997
Total Initial Acquisition Costs				44,606
Costs of Improvements Capitalized Subsequent to Acquisition Costs				9,543
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				46,666
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				7,483
Total Carrying Value	54,149			54,149
Accumulated Depreciation	2,489			2,489
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	54,149
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	2,489
LAND | 500 Penn
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				27,135
Total Initial Acquisition Costs				27,135
Costs of Improvements Capitalized Subsequent to Acquisition Costs				6,331
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				27,135
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				6,331
Total Carrying Value	33,466			33,466
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	33,466
COMMERCIAL
Real Estate and Accumulated Depreciation
Costs of Improvements Capitalized Subsequent to Acquisition Costs				29,808
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				7,793
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				22,015
Total Carrying Value	29,808			29,808
Accumulated Depreciation	14,297			14,297
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	29,808
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	14,297
COMMERCIAL | Brookhaven Shopping Center
Real Estate and Accumulated Depreciation
Costs of Improvements Capitalized Subsequent to Acquisition Costs				29,808
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				7,793
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				22,015
Total Carrying Value	29,808			29,808
Accumulated Depreciation	14,297			14,297
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	29,808
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	14,297
TOTAL CORPORATE
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				3,034
Initial Costs, Buildings and Improvements				20,534
Total Initial Acquisition Costs				23,568
Costs of Improvements Capitalized Subsequent to Acquisition Costs				11,576
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				3,094
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				32,050
Total Carrying Value	35,144			35,144
Accumulated Depreciation	3,736			3,736
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	35,144
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	3,736
TOTAL CORPORATE | Other
Real Estate and Accumulated Depreciation
Costs of Improvements Capitalized Subsequent to Acquisition Costs				9,581
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				9,581
Total Carrying Value	9,581			9,581
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	9,581
TOTAL CORPORATE | 1745 Shea Center I
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				3,034
Initial Costs, Buildings and Improvements				20,534
Total Initial Acquisition Costs				23,568
Costs of Improvements Capitalized Subsequent to Acquisition Costs				1,995
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				3,094
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				22,469
Total Carrying Value	25,563			25,563
Accumulated Depreciation	3,736			3,736
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	25,563
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	3,736
TOTAL COMMERCIAL & CORPORATE
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				3,034
Initial Costs, Buildings and Improvements				20,534
Total Initial Acquisition Costs				23,568
Costs of Improvements Capitalized Subsequent to Acquisition Costs				41,384
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				10,887
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				54,065
Total Carrying Value	64,952			64,952
Accumulated Depreciation	18,033			18,033
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	64,952
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	18,033
TOTAL OPERATING COMMUNITIES
Real Estate and Accumulated Depreciation
Encumbrances				1,116,459
Initial Costs, Land and Land Improvements				2,061,913
Initial Costs, Buildings and Improvements				6,948,537
Total Initial Acquisition Costs				9,010,450
Costs of Improvements Capitalized Subsequent to Acquisition Costs				3,369,307
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				2,304,308
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				10,075,449
Total Carrying Value	12,379,757			12,379,757
Accumulated Depreciation	4,110,808			4,110,808
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	12,379,757
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	4,110,808
WEST REGION
Real Estate and Accumulated Depreciation
Encumbrances				140,629
Initial Costs, Land and Land Improvements				922,362
Initial Costs, Buildings and Improvements				2,045,631
Total Initial Acquisition Costs				2,967,993
Costs of Improvements Capitalized Subsequent to Acquisition Costs				1,484,162
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				1,008,158
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				3,443,997
Total Carrying Value	4,452,155			4,452,155
Accumulated Depreciation	1,643,955			1,643,955
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	4,452,155
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	1,643,955
ORANGE COUNTY, CA
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				426,566
Initial Costs, Buildings and Improvements				430,633
Total Initial Acquisition Costs				857,199
Costs of Improvements Capitalized Subsequent to Acquisition Costs				750,667
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				465,539
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				1,142,327
Total Carrying Value	1,607,866			1,607,866
Accumulated Depreciation	493,649			493,649
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	1,607,866
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	493,649
ORANGE COUNTY, CA | Harbor at Mesa Verde
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				20,476
Initial Costs, Buildings and Improvements				28,538
Total Initial Acquisition Costs				49,014
Costs of Improvements Capitalized Subsequent to Acquisition Costs				22,350
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				22,175
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				49,189
Total Carrying Value	71,364			71,364
Accumulated Depreciation	35,561			35,561
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	71,364
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	35,561
ORANGE COUNTY, CA | 27 Seventy Five Mesa Verde
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				99,329
Initial Costs, Buildings and Improvements				110,644
Total Initial Acquisition Costs				209,973
Costs of Improvements Capitalized Subsequent to Acquisition Costs				104,036
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				114,820
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				199,189
Total Carrying Value	314,009			314,009
Accumulated Depreciation	137,814			137,814
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	314,009
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	137,814
ORANGE COUNTY, CA | Huntington Vista
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				8,055
Initial Costs, Buildings and Improvements				22,486
Total Initial Acquisition Costs				30,541
Costs of Improvements Capitalized Subsequent to Acquisition Costs				14,117
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				9,277
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				35,381
Total Carrying Value	44,658			44,658
Accumulated Depreciation	25,545			25,545
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	44,658
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	25,545
ORANGE COUNTY, CA | Missions at Back Bay
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				229
Initial Costs, Buildings and Improvements				14,129
Total Initial Acquisition Costs				14,358
Costs of Improvements Capitalized Subsequent to Acquisition Costs				3,822
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				10,990
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				7,190
Total Carrying Value	18,180			18,180
Accumulated Depreciation	5,486			5,486
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	18,180
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	5,486
ORANGE COUNTY, CA | Eight 80 Newport Beach - North
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				62,516
Initial Costs, Buildings and Improvements				46,082
Total Initial Acquisition Costs				108,598
Costs of Improvements Capitalized Subsequent to Acquisition Costs				45,252
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				69,131
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				84,719
Total Carrying Value	153,850			153,850
Accumulated Depreciation	60,216			60,216
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	153,850
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	60,216
ORANGE COUNTY, CA | Eight 80 Newport Beach - South
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				58,785
Initial Costs, Buildings and Improvements				50,067
Total Initial Acquisition Costs				108,852
Costs of Improvements Capitalized Subsequent to Acquisition Costs				35,651
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				60,953
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				83,550
Total Carrying Value	144,503			144,503
Accumulated Depreciation	56,092			56,092
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	144,503
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	56,092
ORANGE COUNTY, CA | Foxborough
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				12,071
Initial Costs, Buildings and Improvements				6,187
Total Initial Acquisition Costs				18,258
Costs of Improvements Capitalized Subsequent to Acquisition Costs				4,701
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				12,528
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				10,431
Total Carrying Value	22,959			22,959
Accumulated Depreciation	7,409			7,409
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	22,959
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	7,409
ORANGE COUNTY, CA | 1818 Platinum Triangle
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				16,663
Initial Costs, Buildings and Improvements				51,905
Total Initial Acquisition Costs				68,568
Costs of Improvements Capitalized Subsequent to Acquisition Costs				4,031
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				17,074
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				55,525
Total Carrying Value	72,599			72,599
Accumulated Depreciation	30,618			30,618
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	72,599
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	30,618
ORANGE COUNTY, CA | Beach & Ocean
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				12,878
Total Initial Acquisition Costs				12,878
Costs of Improvements Capitalized Subsequent to Acquisition Costs				39,374
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				13,114
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				39,138
Total Carrying Value	52,252			52,252
Accumulated Depreciation	12,871			12,871
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	52,252
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	12,871
ORANGE COUNTY, CA | The Residences at Bella Terra
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				25,000
Total Initial Acquisition Costs				25,000
Costs of Improvements Capitalized Subsequent to Acquisition Costs				129,030
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				25,476
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				128,554
Total Carrying Value	154,030			154,030
Accumulated Depreciation	50,709			50,709
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	154,030
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	50,709
ORANGE COUNTY, CA | Los Alisos at Mission Viejo
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				17,298
Total Initial Acquisition Costs				17,298
Costs of Improvements Capitalized Subsequent to Acquisition Costs				71,351
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				16,674
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				71,975
Total Carrying Value	88,649			88,649
Accumulated Depreciation	26,850			26,850
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	88,649
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	26,850
ORANGE COUNTY, CA | The Residences at Pacific City
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				78,085
Total Initial Acquisition Costs				78,085
Costs of Improvements Capitalized Subsequent to Acquisition Costs				276,247
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				78,143
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				276,189
Total Carrying Value	354,332			354,332
Accumulated Depreciation	37,475			37,475
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	354,332
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	37,475
ORANGE COUNTY, CA | Parallel
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				15,181
Initial Costs, Buildings and Improvements				100,595
Total Initial Acquisition Costs				115,776
Costs of Improvements Capitalized Subsequent to Acquisition Costs				705
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				15,184
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				101,297
Total Carrying Value	116,481			116,481
Accumulated Depreciation	7,003			7,003
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	116,481
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	7,003
SAN FRANCISCO, CA
Real Estate and Accumulated Depreciation
Encumbrances				27,000
Initial Costs, Land and Land Improvements				145,665
Initial Costs, Buildings and Improvements				414,240
Total Initial Acquisition Costs				559,905
Costs of Improvements Capitalized Subsequent to Acquisition Costs				321,489
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				152,282
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				729,112
Total Carrying Value	881,394			881,394
Accumulated Depreciation	417,821			417,821
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	881,394
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	417,821
SAN FRANCISCO, CA | 2000 Post Street
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				9,861
Initial Costs, Buildings and Improvements				44,578
Total Initial Acquisition Costs				54,439
Costs of Improvements Capitalized Subsequent to Acquisition Costs				36,423
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				14,406
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				76,456
Total Carrying Value	90,862			90,862
Accumulated Depreciation	43,622			43,622
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	90,862
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	43,622
SAN FRANCISCO, CA | Birch Creek
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				4,365
Initial Costs, Buildings and Improvements				16,696
Total Initial Acquisition Costs				21,061
Costs of Improvements Capitalized Subsequent to Acquisition Costs				9,895
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				1,376
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				29,580
Total Carrying Value	30,956			30,956
Accumulated Depreciation	17,725			17,725
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	30,956
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	17,725
SAN FRANCISCO, CA | Highlands Of Marin
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				5,996
Initial Costs, Buildings and Improvements				24,868
Total Initial Acquisition Costs				30,864
Costs of Improvements Capitalized Subsequent to Acquisition Costs				28,751
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				7,995
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				51,620
Total Carrying Value	59,615			59,615
Accumulated Depreciation	37,583			37,583
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	59,615
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	37,583
SAN FRANCISCO, CA | Marina Playa
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				6,224
Initial Costs, Buildings and Improvements				23,916
Total Initial Acquisition Costs				30,140
Costs of Improvements Capitalized Subsequent to Acquisition Costs				13,977
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				1,242
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				42,875
Total Carrying Value	44,117			44,117
Accumulated Depreciation	24,745			24,745
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	44,117
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	24,745
SAN FRANCISCO, CA | River Terrace
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				22,161
Initial Costs, Buildings and Improvements				40,137
Total Initial Acquisition Costs				62,298
Costs of Improvements Capitalized Subsequent to Acquisition Costs				7,850
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				22,911
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				47,237
Total Carrying Value	70,148			70,148
Accumulated Depreciation	32,060			32,060
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	70,148
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	32,060
SAN FRANCISCO, CA | CitySouth
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				14,031
Initial Costs, Buildings and Improvements				30,537
Total Initial Acquisition Costs				44,568
Costs of Improvements Capitalized Subsequent to Acquisition Costs				38,610
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				16,545
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				66,633
Total Carrying Value	83,178			83,178
Accumulated Depreciation	48,737			48,737
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	83,178
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	48,737
SAN FRANCISCO, CA | Bay Terrace
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				8,545
Initial Costs, Buildings and Improvements				14,458
Total Initial Acquisition Costs				23,003
Costs of Improvements Capitalized Subsequent to Acquisition Costs				7,231
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				11,637
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				18,597
Total Carrying Value	30,234			30,234
Accumulated Depreciation	12,278			12,278
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	30,234
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	12,278
SAN FRANCISCO, CA | Highlands of Marin Phase II
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				5,353
Initial Costs, Buildings and Improvements				18,559
Total Initial Acquisition Costs				23,912
Costs of Improvements Capitalized Subsequent to Acquisition Costs				11,287
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				5,777
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				29,422
Total Carrying Value	35,199			35,199
Accumulated Depreciation	20,313			20,313
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	35,199
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	20,313
SAN FRANCISCO, CA | Edgewater
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				30,657
Initial Costs, Buildings and Improvements				83,872
Total Initial Acquisition Costs				114,529
Costs of Improvements Capitalized Subsequent to Acquisition Costs				12,736
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				30,804
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				96,461
Total Carrying Value	127,265			127,265
Accumulated Depreciation	57,547			57,547
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	127,265
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	57,547
SAN FRANCISCO, CA | Almaden Lake Village
Real Estate and Accumulated Depreciation
Encumbrances				27,000
Initial Costs, Land and Land Improvements				594
Initial Costs, Buildings and Improvements				42,515
Total Initial Acquisition Costs				43,109
Costs of Improvements Capitalized Subsequent to Acquisition Costs				9,265
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				963
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				51,411
Total Carrying Value	52,374			52,374
Accumulated Depreciation	31,947			31,947
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	52,374
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	31,947
SAN FRANCISCO, CA | 388 Beale
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				14,253
Initial Costs, Buildings and Improvements				74,104
Total Initial Acquisition Costs				88,357
Costs of Improvements Capitalized Subsequent to Acquisition Costs				13,993
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				14,643
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				87,707
Total Carrying Value	102,350			102,350
Accumulated Depreciation	42,629			42,629
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	102,350
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	42,629
SAN FRANCISCO, CA | Channel @ Mission Bay
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				23,625
Total Initial Acquisition Costs				23,625
Costs of Improvements Capitalized Subsequent to Acquisition Costs				131,471
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				23,983
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				131,113
Total Carrying Value	155,096			155,096
Accumulated Depreciation	48,635			48,635
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	155,096
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	48,635
SEATTLE, WA
Real Estate and Accumulated Depreciation
Encumbrances				70,931
Initial Costs, Land and Land Improvements				138,428
Initial Costs, Buildings and Improvements				840,541
Total Initial Acquisition Costs				978,969
Costs of Improvements Capitalized Subsequent to Acquisition Costs				84,726
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				144,903
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				918,792
Total Carrying Value	1,063,695			1,063,695
Accumulated Depreciation	362,066			362,066
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	1,063,695
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	362,066
SEATTLE, WA | Crowne Pointe
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				2,486
Initial Costs, Buildings and Improvements				6,437
Total Initial Acquisition Costs				8,923
Costs of Improvements Capitalized Subsequent to Acquisition Costs				9,323
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				3,177
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				15,069
Total Carrying Value	18,246			18,246
Accumulated Depreciation	10,776			10,776
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	18,246
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	10,776
SEATTLE, WA | Hilltop
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				2,174
Initial Costs, Buildings and Improvements				7,408
Total Initial Acquisition Costs				9,582
Costs of Improvements Capitalized Subsequent to Acquisition Costs				6,365
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				3,030
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				12,917
Total Carrying Value	15,947			15,947
Accumulated Depreciation	9,216			9,216
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	15,947
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	9,216
SEATTLE, WA | The Hawthorne
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				6,474
Initial Costs, Buildings and Improvements				30,226
Total Initial Acquisition Costs				36,700
Costs of Improvements Capitalized Subsequent to Acquisition Costs				8,473
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				7,101
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				38,072
Total Carrying Value	45,173			45,173
Accumulated Depreciation	26,389			26,389
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	45,173
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	26,389
SEATTLE, WA | The Kennedy
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				6,179
Initial Costs, Buildings and Improvements				22,307
Total Initial Acquisition Costs				28,486
Costs of Improvements Capitalized Subsequent to Acquisition Costs				3,261
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				6,300
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				25,447
Total Carrying Value	31,747			31,747
Accumulated Depreciation	17,028			17,028
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	31,747
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	17,028
SEATTLE, WA | Hearthstone at Merrill Creek
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				6,848
Initial Costs, Buildings and Improvements				30,922
Total Initial Acquisition Costs				37,770
Costs of Improvements Capitalized Subsequent to Acquisition Costs				7,368
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				7,302
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				37,836
Total Carrying Value	45,138			45,138
Accumulated Depreciation	23,317			23,317
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	45,138
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	23,317
SEATTLE, WA | Island Square
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				21,284
Initial Costs, Buildings and Improvements				89,389
Total Initial Acquisition Costs				110,673
Costs of Improvements Capitalized Subsequent to Acquisition Costs				7,672
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				21,667
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				96,678
Total Carrying Value	118,345			118,345
Accumulated Depreciation	58,376			58,376
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	118,345
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	58,376
SEATTLE, WA | Borgata
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				6,379
Initial Costs, Buildings and Improvements				24,569
Total Initial Acquisition Costs				30,948
Costs of Improvements Capitalized Subsequent to Acquisition Costs				5,542
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				6,452
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				30,038
Total Carrying Value	36,490			36,490
Accumulated Depreciation	18,943			18,943
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	36,490
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	18,943
SEATTLE, WA | elements too
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				27,468
Initial Costs, Buildings and Improvements				72,036
Total Initial Acquisition Costs				99,504
Costs of Improvements Capitalized Subsequent to Acquisition Costs				19,466
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				30,331
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				88,639
Total Carrying Value	118,970			118,970
Accumulated Depreciation	64,466			64,466
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	118,970
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	64,466
SEATTLE, WA | 989elements
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				8,541
Initial Costs, Buildings and Improvements				45,990
Total Initial Acquisition Costs				54,531
Costs of Improvements Capitalized Subsequent to Acquisition Costs				5,009
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				8,679
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				50,861
Total Carrying Value	59,540			59,540
Accumulated Depreciation	28,277			28,277
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	59,540
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	28,277
SEATTLE, WA | Lightbox
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				6,449
Initial Costs, Buildings and Improvements				38,884
Total Initial Acquisition Costs				45,333
Costs of Improvements Capitalized Subsequent to Acquisition Costs				1,235
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				6,474
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				40,094
Total Carrying Value	46,568			46,568
Accumulated Depreciation	13,689			13,689
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	46,568
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	13,689
SEATTLE, WA | Waterscape
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				9,693
Initial Costs, Buildings and Improvements				65,176
Total Initial Acquisition Costs				74,869
Costs of Improvements Capitalized Subsequent to Acquisition Costs				3,222
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				9,784
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				68,307
Total Carrying Value	78,091			78,091
Accumulated Depreciation	20,951			20,951
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	78,091
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	20,951
SEATTLE, WA | Ashton Bellevue
Real Estate and Accumulated Depreciation
Encumbrances				44,594
Initial Costs, Land and Land Improvements				8,287
Initial Costs, Buildings and Improvements				124,939
Total Initial Acquisition Costs				133,226
Costs of Improvements Capitalized Subsequent to Acquisition Costs				2,631
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				8,368
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				127,489
Total Carrying Value	135,857			135,857
Accumulated Depreciation	23,100			23,100
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	135,857
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	23,100
SEATTLE, WA | TEN20
Real Estate and Accumulated Depreciation
Encumbrances				26,337
Initial Costs, Land and Land Improvements				5,247
Initial Costs, Buildings and Improvements				76,587
Total Initial Acquisition Costs				81,834
Costs of Improvements Capitalized Subsequent to Acquisition Costs				3,635
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				5,292
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				80,177
Total Carrying Value	85,469			85,469
Accumulated Depreciation	14,496			14,496
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	85,469
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	14,496
SEATTLE, WA | Milehouse
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				5,976
Initial Costs, Buildings and Improvements				63,041
Total Initial Acquisition Costs				69,017
Costs of Improvements Capitalized Subsequent to Acquisition Costs				741
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				5,995
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				63,763
Total Carrying Value	69,758			69,758
Accumulated Depreciation	12,863			12,863
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	69,758
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	12,863
SEATTLE, WA | CityLine
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				11,220
Initial Costs, Buildings and Improvements				85,787
Total Initial Acquisition Costs				97,007
Costs of Improvements Capitalized Subsequent to Acquisition Costs				348
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				11,228
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				86,127
Total Carrying Value	97,355			97,355
Accumulated Depreciation	16,232			16,232
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	97,355
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	16,232
SEATTLE, WA | CityLine II
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				3,723
Initial Costs, Buildings and Improvements				56,843
Total Initial Acquisition Costs				60,566
Costs of Improvements Capitalized Subsequent to Acquisition Costs				435
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				3,723
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				57,278
Total Carrying Value	61,001			61,001
Accumulated Depreciation	3,947			3,947
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	61,001
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	3,947
LOS ANGELES, CA
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				151,833
Initial Costs, Buildings and Improvements				156,492
Total Initial Acquisition Costs				308,325
Costs of Improvements Capitalized Subsequent to Acquisition Costs				149,864
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				161,179
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				297,010
Total Carrying Value	458,189			458,189
Accumulated Depreciation	180,498			180,498
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	458,189
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	180,498
LOS ANGELES, CA | Rosebeach
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				8,414
Initial Costs, Buildings and Improvements				17,449
Total Initial Acquisition Costs				25,863
Costs of Improvements Capitalized Subsequent to Acquisition Costs				5,903
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				8,855
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				22,911
Total Carrying Value	31,766			31,766
Accumulated Depreciation	16,642			16,642
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	31,766
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	16,642
LOS ANGELES, CA | Tierra Del Rey
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				39,586
Initial Costs, Buildings and Improvements				36,679
Total Initial Acquisition Costs				76,265
Costs of Improvements Capitalized Subsequent to Acquisition Costs				8,415
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				39,857
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				44,823
Total Carrying Value	84,680			84,680
Accumulated Depreciation	27,165			27,165
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	84,680
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	27,165
LOS ANGELES, CA | The Westerly
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				48,182
Initial Costs, Buildings and Improvements				102,364
Total Initial Acquisition Costs				150,546
Costs of Improvements Capitalized Subsequent to Acquisition Costs				41,493
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				50,887
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				141,152
Total Carrying Value	192,039			192,039
Accumulated Depreciation	83,909			83,909
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	192,039
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	83,909
LOS ANGELES, CA | Jefferson at Marina del Rey
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				55,651
Total Initial Acquisition Costs				55,651
Costs of Improvements Capitalized Subsequent to Acquisition Costs				94,053
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				61,580
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				88,124
Total Carrying Value	149,704			149,704
Accumulated Depreciation	52,782			52,782
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	149,704
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	52,782
MONTEREY PENINSULA, CA
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				16,938
Initial Costs, Buildings and Improvements				68,384
Total Initial Acquisition Costs				85,322
Costs of Improvements Capitalized Subsequent to Acquisition Costs				97,308
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				29,416
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				153,214
Total Carrying Value	182,630			182,630
Accumulated Depreciation	95,970			95,970
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	182,630
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	95,970
MONTEREY PENINSULA, CA | Boronda Manor
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				1,946
Initial Costs, Buildings and Improvements				8,982
Total Initial Acquisition Costs				10,928
Costs of Improvements Capitalized Subsequent to Acquisition Costs				11,332
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				3,330
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				18,930
Total Carrying Value	22,260			22,260
Accumulated Depreciation	11,809			11,809
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	22,260
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	11,809
MONTEREY PENINSULA, CA | Garden Court
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				888
Initial Costs, Buildings and Improvements				4,188
Total Initial Acquisition Costs				5,076
Costs of Improvements Capitalized Subsequent to Acquisition Costs				6,546
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				1,613
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				10,009
Total Carrying Value	11,622			11,622
Accumulated Depreciation	6,382			6,382
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	11,622
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	6,382
MONTEREY PENINSULA, CA | Cambridge Court
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				3,039
Initial Costs, Buildings and Improvements				12,883
Total Initial Acquisition Costs				15,922
Costs of Improvements Capitalized Subsequent to Acquisition Costs				18,449
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				5,695
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				28,676
Total Carrying Value	34,371			34,371
Accumulated Depreciation	18,243			18,243
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	34,371
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	18,243
MONTEREY PENINSULA, CA | Laurel Tree
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				1,304
Initial Costs, Buildings and Improvements				5,115
Total Initial Acquisition Costs				6,419
Costs of Improvements Capitalized Subsequent to Acquisition Costs				7,657
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				2,449
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				11,627
Total Carrying Value	14,076			14,076
Accumulated Depreciation	7,337			7,337
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	14,076
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	7,337
MONTEREY PENINSULA, CA | The Pointe At Harden Ranch
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				6,388
Initial Costs, Buildings and Improvements				23,854
Total Initial Acquisition Costs				30,242
Costs of Improvements Capitalized Subsequent to Acquisition Costs				33,268
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				10,345
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				53,165
Total Carrying Value	63,510			63,510
Accumulated Depreciation	32,804			32,804
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	63,510
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	32,804
MONTEREY PENINSULA, CA | The Pointe At Northridge
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				2,044
Initial Costs, Buildings and Improvements				8,028
Total Initial Acquisition Costs				10,072
Costs of Improvements Capitalized Subsequent to Acquisition Costs				12,096
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				3,623
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				18,545
Total Carrying Value	22,168			22,168
Accumulated Depreciation	11,851			11,851
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	22,168
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	11,851
MONTEREY PENINSULA, CA | The Pointe At Westlake
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				1,329
Initial Costs, Buildings and Improvements				5,334
Total Initial Acquisition Costs				6,663
Costs of Improvements Capitalized Subsequent to Acquisition Costs				7,960
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				2,361
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				12,262
Total Carrying Value	14,623			14,623
Accumulated Depreciation	7,544			7,544
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	14,623
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	7,544
OTHER SOUTHERN CA
Real Estate and Accumulated Depreciation
Encumbrances				42,698
Initial Costs, Land and Land Improvements				33,645
Initial Costs, Buildings and Improvements				111,337
Total Initial Acquisition Costs				144,982
Costs of Improvements Capitalized Subsequent to Acquisition Costs				63,004
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				44,182
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				163,804
Total Carrying Value	207,986			207,986
Accumulated Depreciation	63,774			63,774
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	207,986
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	63,774
OTHER SOUTHERN CA | Verano at Rancho Cucamonga Town Square
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				13,557
Initial Costs, Buildings and Improvements				3,645
Total Initial Acquisition Costs				17,202
Costs of Improvements Capitalized Subsequent to Acquisition Costs				57,985
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				23,633
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				51,554
Total Carrying Value	75,187			75,187
Accumulated Depreciation	42,170			42,170
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	75,187
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	42,170
OTHER SOUTHERN CA | Windemere at Sycamore Highland
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				5,810
Initial Costs, Buildings and Improvements				23,450
Total Initial Acquisition Costs				29,260
Costs of Improvements Capitalized Subsequent to Acquisition Costs				4,934
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				6,271
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				27,923
Total Carrying Value	34,194			34,194
Accumulated Depreciation	21,136			21,136
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	34,194
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	21,136
OTHER SOUTHERN CA | Strata
Real Estate and Accumulated Depreciation
Encumbrances				42,698
Initial Costs, Land and Land Improvements				14,278
Initial Costs, Buildings and Improvements				84,242
Total Initial Acquisition Costs				98,520
Costs of Improvements Capitalized Subsequent to Acquisition Costs				85
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				14,278
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				84,327
Total Carrying Value	98,605			98,605
Accumulated Depreciation	468			468
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	98,605
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	468
PORTLAND, OR
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				9,287
Initial Costs, Buildings and Improvements				24,004
Total Initial Acquisition Costs				33,291
Costs of Improvements Capitalized Subsequent to Acquisition Costs				17,104
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				10,657
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				39,738
Total Carrying Value	50,395			50,395
Accumulated Depreciation	30,177			30,177
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	50,395
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	30,177
PORTLAND, OR | Tualatin Heights
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				3,273
Initial Costs, Buildings and Improvements				9,134
Total Initial Acquisition Costs				12,407
Costs of Improvements Capitalized Subsequent to Acquisition Costs				9,090
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				4,141
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				17,356
Total Carrying Value	21,497			21,497
Accumulated Depreciation	12,657			12,657
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	21,497
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	12,657
PORTLAND, OR | Hunt Club
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				6,014
Initial Costs, Buildings and Improvements				14,870
Total Initial Acquisition Costs				20,884
Costs of Improvements Capitalized Subsequent to Acquisition Costs				8,014
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				6,516
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				22,382
Total Carrying Value	28,898			28,898
Accumulated Depreciation	17,520			17,520
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	28,898
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	17,520
MID-ATLANTIC REGION
Real Estate and Accumulated Depreciation
Encumbrances				310,667
Initial Costs, Land and Land Improvements				406,003
Initial Costs, Buildings and Improvements				1,744,752
Total Initial Acquisition Costs				2,150,755
Costs of Improvements Capitalized Subsequent to Acquisition Costs				655,620
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				485,308
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				2,321,067
Total Carrying Value	2,806,375			2,806,375
Accumulated Depreciation	934,015			934,015
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	2,806,375
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	934,015
METROPOLITAN, D.C.
Real Estate and Accumulated Depreciation
Encumbrances				252,067
Initial Costs, Land and Land Improvements				352,062
Initial Costs, Buildings and Improvements				1,426,127
Total Initial Acquisition Costs				1,778,189
Costs of Improvements Capitalized Subsequent to Acquisition Costs				544,683
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				419,405
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				1,903,467
Total Carrying Value	2,322,872			2,322,872
Accumulated Depreciation	733,753			733,753
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	2,322,872
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	733,753
METROPOLITAN, D.C. | Dominion Middle Ridge
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				3,311
Initial Costs, Buildings and Improvements				13,283
Total Initial Acquisition Costs				16,594
Costs of Improvements Capitalized Subsequent to Acquisition Costs				11,745
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				4,054
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				24,285
Total Carrying Value	28,339			28,339
Accumulated Depreciation	16,308			16,308
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	28,339
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	16,308
METROPOLITAN, D.C. | Dominion Lake Ridge
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				2,366
Initial Costs, Buildings and Improvements				8,387
Total Initial Acquisition Costs				10,753
Costs of Improvements Capitalized Subsequent to Acquisition Costs				9,611
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				3,163
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				17,201
Total Carrying Value	20,364			20,364
Accumulated Depreciation	12,846			12,846
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	20,364
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	12,846
METROPOLITAN, D.C. | Presidential Greens
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				11,238
Initial Costs, Buildings and Improvements				18,790
Total Initial Acquisition Costs				30,028
Costs of Improvements Capitalized Subsequent to Acquisition Costs				13,019
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				11,826
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				31,221
Total Carrying Value	43,047			43,047
Accumulated Depreciation	24,563			24,563
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	43,047
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	24,563
METROPOLITAN, D.C. | The Whitmore
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				6,418
Initial Costs, Buildings and Improvements				13,411
Total Initial Acquisition Costs				19,829
Costs of Improvements Capitalized Subsequent to Acquisition Costs				24,170
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				7,564
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				36,435
Total Carrying Value	43,999			43,999
Accumulated Depreciation	28,764			28,764
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	43,999
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	28,764
METROPOLITAN, D.C. | Ridgewood - apts side
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				5,612
Initial Costs, Buildings and Improvements				20,086
Total Initial Acquisition Costs				25,698
Costs of Improvements Capitalized Subsequent to Acquisition Costs				10,801
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				6,362
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				30,137
Total Carrying Value	36,499			36,499
Accumulated Depreciation	24,033			24,033
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	36,499
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	24,033
METROPOLITAN, D.C. | DelRay Tower
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				297
Initial Costs, Buildings and Improvements				12,786
Total Initial Acquisition Costs				13,083
Costs of Improvements Capitalized Subsequent to Acquisition Costs				116,038
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				9,652
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				119,469
Total Carrying Value	129,121			129,121
Accumulated Depreciation	40,394			40,394
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	129,121
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	40,394
METROPOLITAN, D.C. | Waterside Towers
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				13,001
Initial Costs, Buildings and Improvements				49,657
Total Initial Acquisition Costs				62,658
Costs of Improvements Capitalized Subsequent to Acquisition Costs				31,372
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				50,603
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				43,427
Total Carrying Value	94,030			94,030
Accumulated Depreciation	29,028			29,028
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	94,030
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	29,028
METROPOLITAN, D.C. | Wellington Place at Olde Town
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				13,753
Initial Costs, Buildings and Improvements				36,059
Total Initial Acquisition Costs				49,812
Costs of Improvements Capitalized Subsequent to Acquisition Costs				20,955
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				14,885
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				55,882
Total Carrying Value	70,767			70,767
Accumulated Depreciation	41,845			41,845
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	70,767
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	41,845
METROPOLITAN, D.C. | Andover House
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				183
Initial Costs, Buildings and Improvements				59,948
Total Initial Acquisition Costs				60,131
Costs of Improvements Capitalized Subsequent to Acquisition Costs				6,813
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				317
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				66,627
Total Carrying Value	66,944			66,944
Accumulated Depreciation	39,795			39,795
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	66,944
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	39,795
METROPOLITAN, D.C. | Sullivan Place
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				1,137
Initial Costs, Buildings and Improvements				103,676
Total Initial Acquisition Costs				104,813
Costs of Improvements Capitalized Subsequent to Acquisition Costs				12,102
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				1,775
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				115,140
Total Carrying Value	116,915			116,915
Accumulated Depreciation	72,629			72,629
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	116,915
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	72,629
METROPOLITAN, D.C. | Delancey at Shirlington
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				21,606
Initial Costs, Buildings and Improvements				66,765
Total Initial Acquisition Costs				88,371
Costs of Improvements Capitalized Subsequent to Acquisition Costs				5,930
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				21,713
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				72,588
Total Carrying Value	94,301			94,301
Accumulated Depreciation	43,905			43,905
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	94,301
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	43,905
METROPOLITAN, D.C. | View 14
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				5,710
Initial Costs, Buildings and Improvements				97,941
Total Initial Acquisition Costs				103,651
Costs of Improvements Capitalized Subsequent to Acquisition Costs				5,174
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				5,780
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				103,045
Total Carrying Value	108,825			108,825
Accumulated Depreciation	49,727			49,727
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	108,825
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	49,727
METROPOLITAN, D.C. | Signal Hill Apartments
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				13,290
Total Initial Acquisition Costs				13,290
Costs of Improvements Capitalized Subsequent to Acquisition Costs				72,169
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				25,576
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				59,883
Total Carrying Value	85,459			85,459
Accumulated Depreciation	41,319			41,319
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	85,459
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	41,319
METROPOLITAN, D.C. | Capitol View on 14th
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				31,393
Total Initial Acquisition Costs				31,393
Costs of Improvements Capitalized Subsequent to Acquisition Costs				96,501
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				31,471
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				96,423
Total Carrying Value	127,894			127,894
Accumulated Depreciation	40,878			40,878
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	127,894
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	40,878
METROPOLITAN, D.C. | Domain College Park
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				7,300
Total Initial Acquisition Costs				7,300
Costs of Improvements Capitalized Subsequent to Acquisition Costs				60,095
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				7,508
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				59,887
Total Carrying Value	67,395			67,395
Accumulated Depreciation	22,856			22,856
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	67,395
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	22,856
METROPOLITAN, D.C. | 1200 East West
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				9,748
Initial Costs, Buildings and Improvements				68,022
Total Initial Acquisition Costs				77,770
Costs of Improvements Capitalized Subsequent to Acquisition Costs				3,289
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				9,888
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				71,171
Total Carrying Value	81,059			81,059
Accumulated Depreciation	16,873			16,873
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	81,059
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	16,873
METROPOLITAN, D.C. | Courts at Huntington Station
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				27,749
Initial Costs, Buildings and Improvements				111,878
Total Initial Acquisition Costs				139,627
Costs of Improvements Capitalized Subsequent to Acquisition Costs				4,526
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				28,085
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				116,068
Total Carrying Value	144,153			144,153
Accumulated Depreciation	31,845			31,845
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	144,153
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	31,845
METROPOLITAN, D.C. | Eleven55 Ripley
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				15,566
Initial Costs, Buildings and Improvements				107,539
Total Initial Acquisition Costs				123,105
Costs of Improvements Capitalized Subsequent to Acquisition Costs				4,111
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				15,838
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				111,378
Total Carrying Value	127,216			127,216
Accumulated Depreciation	26,234			26,234
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	127,216
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	26,234
METROPOLITAN, D.C. | Arbor Park of Alexandria
Real Estate and Accumulated Depreciation
Encumbrances				80,664
Initial Costs, Land and Land Improvements				50,881
Initial Costs, Buildings and Improvements				159,728
Total Initial Acquisition Costs				210,609
Costs of Improvements Capitalized Subsequent to Acquisition Costs				5,571
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				51,347
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				164,833
Total Carrying Value	216,180			216,180
Accumulated Depreciation	44,595			44,595
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	216,180
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	44,595
METROPOLITAN, D.C. | Courts at Dulles
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				14,697
Initial Costs, Buildings and Improvements				83,834
Total Initial Acquisition Costs				98,531
Costs of Improvements Capitalized Subsequent to Acquisition Costs				10,035
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				14,767
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				93,799
Total Carrying Value	108,566			108,566
Accumulated Depreciation	26,917			26,917
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	108,566
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	26,917
METROPOLITAN, D.C. | Newport Village
Real Estate and Accumulated Depreciation
Encumbrances				127,600
Initial Costs, Land and Land Improvements				55,283
Initial Costs, Buildings and Improvements				177,454
Total Initial Acquisition Costs				232,737
Costs of Improvements Capitalized Subsequent to Acquisition Costs				20,485
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				55,708
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				197,514
Total Carrying Value	253,222			253,222
Accumulated Depreciation	54,930			54,930
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	253,222
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	54,930
METROPOLITAN, D.C. | 1301 Thomas Circle
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				27,836
Initial Costs, Buildings and Improvements				128,191
Total Initial Acquisition Costs				156,027
Costs of Improvements Capitalized Subsequent to Acquisition Costs				144
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				27,836
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				128,335
Total Carrying Value	156,171			156,171
Accumulated Depreciation	2,892			2,892
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	156,171
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	2,892
METROPOLITAN, D.C. | Crescent Falls Church
Real Estate and Accumulated Depreciation
Encumbrances				43,803
Initial Costs, Land and Land Improvements				13,687
Initial Costs, Buildings and Improvements				88,692
Total Initial Acquisition Costs				102,379
Costs of Improvements Capitalized Subsequent to Acquisition Costs				27
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				13,687
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				88,719
Total Carrying Value	102,406			102,406
Accumulated Depreciation	577			577
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	102,406
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	577
RICHMOND, VA
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				5,123
Initial Costs, Buildings and Improvements				60,908
Total Initial Acquisition Costs				66,031
Costs of Improvements Capitalized Subsequent to Acquisition Costs				85,695
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				15,680
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				136,046
Total Carrying Value	151,726			151,726
Accumulated Depreciation	113,786			113,786
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	151,726
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	113,786
RICHMOND, VA | Gayton Pointe Townhomes
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				826
Initial Costs, Buildings and Improvements				5,148
Total Initial Acquisition Costs				5,974
Costs of Improvements Capitalized Subsequent to Acquisition Costs				31,396
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				3,598
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				33,772
Total Carrying Value	37,370			37,370
Accumulated Depreciation	30,959			30,959
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	37,370
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	30,959
RICHMOND, VA | Waterside At Ironbridge
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				1,844
Initial Costs, Buildings and Improvements				13,239
Total Initial Acquisition Costs				15,083
Costs of Improvements Capitalized Subsequent to Acquisition Costs				9,922
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				2,575
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				22,430
Total Carrying Value	25,005			25,005
Accumulated Depreciation	16,763			16,763
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	25,005
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	16,763
RICHMOND, VA | Carriage Homes at Wyndham
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				474
Initial Costs, Buildings and Improvements				30,997
Total Initial Acquisition Costs				31,471
Costs of Improvements Capitalized Subsequent to Acquisition Costs				10,475
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				4,056
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				37,890
Total Carrying Value	41,946			41,946
Accumulated Depreciation	28,644			28,644
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	41,946
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	28,644
RICHMOND, VA | Legacy at Mayland
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				1,979
Initial Costs, Buildings and Improvements				11,524
Total Initial Acquisition Costs				13,503
Costs of Improvements Capitalized Subsequent to Acquisition Costs				33,902
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				5,451
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				41,954
Total Carrying Value	47,405			47,405
Accumulated Depreciation	37,420			37,420
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	47,405
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	37,420
BALTIMORE, MD
Real Estate and Accumulated Depreciation
Encumbrances				58,600
Initial Costs, Land and Land Improvements				48,818
Initial Costs, Buildings and Improvements				257,717
Total Initial Acquisition Costs				306,535
Costs of Improvements Capitalized Subsequent to Acquisition Costs				25,242
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				50,223
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				281,554
Total Carrying Value	331,777			331,777
Accumulated Depreciation	86,476			86,476
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	331,777
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	86,476
BALTIMORE, MD | Calvert's Walk
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				4,408
Initial Costs, Buildings and Improvements				24,692
Total Initial Acquisition Costs				29,100
Costs of Improvements Capitalized Subsequent to Acquisition Costs				9,266
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				4,996
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				33,370
Total Carrying Value	38,366			38,366
Accumulated Depreciation	25,052			25,052
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	38,366
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	25,052
BALTIMORE, MD | 20 Lambourne
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				11,750
Initial Costs, Buildings and Improvements				45,590
Total Initial Acquisition Costs				57,340
Costs of Improvements Capitalized Subsequent to Acquisition Costs				10,667
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				12,428
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				55,579
Total Carrying Value	68,007			68,007
Accumulated Depreciation	34,852			34,852
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	68,007
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	34,852
BALTIMORE, MD | Domain Brewers Hill
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				4,669
Initial Costs, Buildings and Improvements				40,630
Total Initial Acquisition Costs				45,299
Costs of Improvements Capitalized Subsequent to Acquisition Costs				2,279
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				4,808
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				42,770
Total Carrying Value	47,578			47,578
Accumulated Depreciation	22,704			22,704
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	47,578
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	22,704
BALTIMORE, MD | Rodgers Forge
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				15,392
Initial Costs, Buildings and Improvements				67,958
Total Initial Acquisition Costs				83,350
Costs of Improvements Capitalized Subsequent to Acquisition Costs				3,001
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				15,392
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				70,959
Total Carrying Value	86,351			86,351
Accumulated Depreciation	3,367			3,367
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	86,351
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	3,367
BALTIMORE, MD | Towson Promenade
Real Estate and Accumulated Depreciation
Encumbrances				58,600
Initial Costs, Land and Land Improvements				12,599
Initial Costs, Buildings and Improvements				78,847
Total Initial Acquisition Costs				91,446
Costs of Improvements Capitalized Subsequent to Acquisition Costs				29
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				12,599
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				78,876
Total Carrying Value	91,475			91,475
Accumulated Depreciation	501			501
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	91,475
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	501
SOUTHEAST REGION
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				97,109
Initial Costs, Buildings and Improvements				488,901
Total Initial Acquisition Costs				586,010
Costs of Improvements Capitalized Subsequent to Acquisition Costs				367,019
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				139,268
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				813,761
Total Carrying Value	953,029			953,029
Accumulated Depreciation	531,355			531,355
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	953,029
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	531,355
ORLANDO, FL
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				22,624
Initial Costs, Buildings and Improvements				88,765
Total Initial Acquisition Costs				111,389
Costs of Improvements Capitalized Subsequent to Acquisition Costs				121,709
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				33,773
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				199,325
Total Carrying Value	233,098			233,098
Accumulated Depreciation	161,237			161,237
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	233,098
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	161,237
ORLANDO, FL | Seabrook
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				1,846
Initial Costs, Buildings and Improvements				4,155
Total Initial Acquisition Costs				6,001
Costs of Improvements Capitalized Subsequent to Acquisition Costs				10,276
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				3,018
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				13,259
Total Carrying Value	16,277			16,277
Accumulated Depreciation	11,396			11,396
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	16,277
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	11,396
ORLANDO, FL | Altamira Place
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				1,533
Initial Costs, Buildings and Improvements				11,076
Total Initial Acquisition Costs				12,609
Costs of Improvements Capitalized Subsequent to Acquisition Costs				22,790
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				3,887
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				31,512
Total Carrying Value	35,399			35,399
Accumulated Depreciation	28,929			28,929
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	35,399
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	28,929
ORLANDO, FL | Regatta Shore
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				757
Initial Costs, Buildings and Improvements				6,608
Total Initial Acquisition Costs				7,365
Costs of Improvements Capitalized Subsequent to Acquisition Costs				18,177
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				2,301
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				23,241
Total Carrying Value	25,542			25,542
Accumulated Depreciation	20,424			20,424
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	25,542
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	20,424
ORLANDO, FL | Alafaya Woods
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				1,653
Initial Costs, Buildings and Improvements				9,042
Total Initial Acquisition Costs				10,695
Costs of Improvements Capitalized Subsequent to Acquisition Costs				12,841
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				2,860
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				20,676
Total Carrying Value	23,536			23,536
Accumulated Depreciation	16,273			16,273
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	23,536
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	16,273
ORLANDO, FL | Los Altos
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				2,804
Initial Costs, Buildings and Improvements				12,349
Total Initial Acquisition Costs				15,153
Costs of Improvements Capitalized Subsequent to Acquisition Costs				13,797
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				4,710
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				24,240
Total Carrying Value	28,950			28,950
Accumulated Depreciation	19,347			19,347
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	28,950
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	19,347
ORLANDO, FL | Lotus Landing
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				2,185
Initial Costs, Buildings and Improvements				8,639
Total Initial Acquisition Costs				10,824
Costs of Improvements Capitalized Subsequent to Acquisition Costs				12,182
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				3,050
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				19,956
Total Carrying Value	23,006			23,006
Accumulated Depreciation	15,091			15,091
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	23,006
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	15,091
ORLANDO, FL | Seville On The Green
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				1,282
Initial Costs, Buildings and Improvements				6,498
Total Initial Acquisition Costs				7,780
Costs of Improvements Capitalized Subsequent to Acquisition Costs				8,635
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				1,872
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				14,543
Total Carrying Value	16,415			16,415
Accumulated Depreciation	11,259			11,259
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	16,415
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	11,259
ORLANDO, FL | Ashton @ Waterford
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				3,872
Initial Costs, Buildings and Improvements				17,538
Total Initial Acquisition Costs				21,410
Costs of Improvements Capitalized Subsequent to Acquisition Costs				6,886
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				4,406
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				23,890
Total Carrying Value	28,296			28,296
Accumulated Depreciation	16,848			16,848
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	28,296
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	16,848
ORLANDO, FL | Arbors at Lee Vista
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				6,692
Initial Costs, Buildings and Improvements				12,860
Total Initial Acquisition Costs				19,552
Costs of Improvements Capitalized Subsequent to Acquisition Costs				16,125
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				7,669
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				28,008
Total Carrying Value	35,677			35,677
Accumulated Depreciation	21,670			21,670
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	35,677
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	21,670
NASHVILLE, TN
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				15,433
Initial Costs, Buildings and Improvements				87,608
Total Initial Acquisition Costs				103,041
Costs of Improvements Capitalized Subsequent to Acquisition Costs				117,525
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				25,176
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				195,390
Total Carrying Value	220,566			220,566
Accumulated Depreciation	146,243			146,243
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	220,566
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	146,243
NASHVILLE, TN | Legacy Hill
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				1,148
Initial Costs, Buildings and Improvements				5,867
Total Initial Acquisition Costs				7,015
Costs of Improvements Capitalized Subsequent to Acquisition Costs				11,083
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				2,026
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				16,072
Total Carrying Value	18,098			18,098
Accumulated Depreciation	13,203			13,203
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	18,098
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	13,203
NASHVILLE, TN | Hickory Run
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				1,469
Initial Costs, Buildings and Improvements				11,584
Total Initial Acquisition Costs				13,053
Costs of Improvements Capitalized Subsequent to Acquisition Costs				14,126
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				2,592
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				24,587
Total Carrying Value	27,179			27,179
Accumulated Depreciation	16,915			16,915
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	27,179
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	16,915
NASHVILLE, TN | Carrington Hills
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				2,117
Total Initial Acquisition Costs				2,117
Costs of Improvements Capitalized Subsequent to Acquisition Costs				39,283
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				4,925
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				36,475
Total Carrying Value	41,400			41,400
Accumulated Depreciation	26,945			26,945
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	41,400
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	26,945
NASHVILLE, TN | Brookridge
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				708
Initial Costs, Buildings and Improvements				5,461
Total Initial Acquisition Costs				6,169
Costs of Improvements Capitalized Subsequent to Acquisition Costs				7,396
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				1,492
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				12,073
Total Carrying Value	13,565			13,565
Accumulated Depreciation	9,211			9,211
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	13,565
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	9,211
NASHVILLE, TN | Breckenridge
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				766
Initial Costs, Buildings and Improvements				7,714
Total Initial Acquisition Costs				8,480
Costs of Improvements Capitalized Subsequent to Acquisition Costs				6,998
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				1,539
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				13,939
Total Carrying Value	15,478			15,478
Accumulated Depreciation	10,241			10,241
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	15,478
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	10,241
NASHVILLE, TN | Colonnade
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				1,460
Initial Costs, Buildings and Improvements				16,015
Total Initial Acquisition Costs				17,475
Costs of Improvements Capitalized Subsequent to Acquisition Costs				8,865
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				2,317
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				24,023
Total Carrying Value	26,340			26,340
Accumulated Depreciation	16,356			16,356
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	26,340
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	16,356
NASHVILLE, TN | The Preserve at Brentwood
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				3,182
Initial Costs, Buildings and Improvements				24,674
Total Initial Acquisition Costs				27,856
Costs of Improvements Capitalized Subsequent to Acquisition Costs				11,163
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				4,145
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				34,874
Total Carrying Value	39,019			39,019
Accumulated Depreciation	26,346			26,346
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	39,019
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	26,346
NASHVILLE, TN | Polo Park
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				4,583
Initial Costs, Buildings and Improvements				16,293
Total Initial Acquisition Costs				20,876
Costs of Improvements Capitalized Subsequent to Acquisition Costs				18,611
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				6,140
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				33,347
Total Carrying Value	39,487			39,487
Accumulated Depreciation	27,026			27,026
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	39,487
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	27,026
TAMPA, FL
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				43,084
Initial Costs, Buildings and Improvements				256,127
Total Initial Acquisition Costs				299,211
Costs of Improvements Capitalized Subsequent to Acquisition Costs				112,636
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				63,479
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				348,368
Total Carrying Value	411,847			411,847
Accumulated Depreciation	173,874			173,874
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	411,847
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	173,874
TAMPA, FL | Summit West
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				2,176
Initial Costs, Buildings and Improvements				4,710
Total Initial Acquisition Costs				6,886
Costs of Improvements Capitalized Subsequent to Acquisition Costs				12,423
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				3,688
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				15,621
Total Carrying Value	19,309			19,309
Accumulated Depreciation	13,431			13,431
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	19,309
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	13,431
TAMPA, FL | The Breyley
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				1,780
Initial Costs, Buildings and Improvements				2,458
Total Initial Acquisition Costs				4,238
Costs of Improvements Capitalized Subsequent to Acquisition Costs				18,948
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				3,811
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				19,375
Total Carrying Value	23,186			23,186
Accumulated Depreciation	19,088			19,088
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	23,186
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	19,088
TAMPA, FL | Lakewood Place
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				1,395
Initial Costs, Buildings and Improvements				10,647
Total Initial Acquisition Costs				12,042
Costs of Improvements Capitalized Subsequent to Acquisition Costs				13,457
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				3,257
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				22,242
Total Carrying Value	25,499			25,499
Accumulated Depreciation	17,883			17,883
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	25,499
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	17,883
TAMPA, FL | Cambridge Woods
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				1,791
Initial Costs, Buildings and Improvements				7,166
Total Initial Acquisition Costs				8,957
Costs of Improvements Capitalized Subsequent to Acquisition Costs				12,591
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				3,514
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				18,034
Total Carrying Value	21,548			21,548
Accumulated Depreciation	14,194			14,194
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	21,548
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	14,194
TAMPA, FL | Inlet Bay
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				7,702
Initial Costs, Buildings and Improvements				23,150
Total Initial Acquisition Costs				30,852
Costs of Improvements Capitalized Subsequent to Acquisition Costs				19,716
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				10,421
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				40,147
Total Carrying Value	50,568			50,568
Accumulated Depreciation	32,988			32,988
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	50,568
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	32,988
TAMPA, FL | MacAlpine Place
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				10,869
Initial Costs, Buildings and Improvements				36,858
Total Initial Acquisition Costs				47,727
Costs of Improvements Capitalized Subsequent to Acquisition Costs				11,770
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				12,194
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				47,303
Total Carrying Value	59,497			59,497
Accumulated Depreciation	35,105			35,105
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	59,497
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	35,105
TAMPA, FL | The Vintage Lofts at West End
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				6,611
Initial Costs, Buildings and Improvements				37,663
Total Initial Acquisition Costs				44,274
Costs of Improvements Capitalized Subsequent to Acquisition Costs				21,768
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				15,826
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				50,216
Total Carrying Value	66,042			66,042
Accumulated Depreciation	33,876			33,876
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	66,042
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	33,876
TAMPA, FL | Peridot Palms
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				6,293
Initial Costs, Buildings and Improvements				89,752
Total Initial Acquisition Costs				96,045
Costs of Improvements Capitalized Subsequent to Acquisition Costs				1,002
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				6,301
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				90,746
Total Carrying Value	97,047			97,047
Accumulated Depreciation	5,481			5,481
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	97,047
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	5,481
TAMPA, FL | The Preserve at Gateway
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				4,467
Initial Costs, Buildings and Improvements				43,723
Total Initial Acquisition Costs				48,190
Costs of Improvements Capitalized Subsequent to Acquisition Costs				961
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				4,467
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				44,684
Total Carrying Value	49,151			49,151
Accumulated Depreciation	1,828			1,828
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	49,151
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	1,828
OTHER FLORIDA
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				15,968
Initial Costs, Buildings and Improvements				56,401
Total Initial Acquisition Costs				72,369
Costs of Improvements Capitalized Subsequent to Acquisition Costs				15,149
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				16,840
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				70,678
Total Carrying Value	87,518			87,518
Accumulated Depreciation	50,001			50,001
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	87,518
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	50,001
OTHER FLORIDA | The Reserve and Park at Riverbridge
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				15,968
Initial Costs, Buildings and Improvements				56,401
Total Initial Acquisition Costs				72,369
Costs of Improvements Capitalized Subsequent to Acquisition Costs				15,149
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				16,840
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				70,678
Total Carrying Value	87,518			87,518
Accumulated Depreciation	50,001			50,001
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	87,518
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	50,001
NORTHEAST REGION
Real Estate and Accumulated Depreciation
Encumbrances				389,639
Initial Costs, Land and Land Improvements				501,044
Initial Costs, Buildings and Improvements				2,042,252
Total Initial Acquisition Costs				2,543,296
Costs of Improvements Capitalized Subsequent to Acquisition Costs				748,077
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				515,640
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				2,775,733
Total Carrying Value	3,291,373			3,291,373
Accumulated Depreciation	764,463			764,463
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	3,291,373
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	764,463
NEW YORK, NY
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				294,310
Initial Costs, Buildings and Improvements				1,086,043
Total Initial Acquisition Costs				1,380,353
Costs of Improvements Capitalized Subsequent to Acquisition Costs				163,192
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				296,814
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				1,246,731
Total Carrying Value	1,543,545			1,543,545
Accumulated Depreciation	509,684			509,684
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	1,543,545
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	509,684
NEW YORK, NY | 10 Hanover Square
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				41,432
Initial Costs, Buildings and Improvements				218,983
Total Initial Acquisition Costs				260,415
Costs of Improvements Capitalized Subsequent to Acquisition Costs				24,465
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				41,765
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				243,115
Total Carrying Value	284,880			284,880
Accumulated Depreciation	103,344			103,344
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	284,880
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	103,344
NEW YORK, NY | 21 Chelsea
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				36,399
Initial Costs, Buildings and Improvements				107,154
Total Initial Acquisition Costs				143,553
Costs of Improvements Capitalized Subsequent to Acquisition Costs				14,695
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				36,529
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				121,719
Total Carrying Value	158,248			158,248
Accumulated Depreciation	55,758			55,758
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	158,248
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	55,758
NEW YORK, NY | View 34
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				114,410
Initial Costs, Buildings and Improvements				324,920
Total Initial Acquisition Costs				439,330
Costs of Improvements Capitalized Subsequent to Acquisition Costs				112,238
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				116,021
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				435,547
Total Carrying Value	551,568			551,568
Accumulated Depreciation	203,215			203,215
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	551,568
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	203,215
NEW YORK, NY | 95 Wall Street
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				57,637
Initial Costs, Buildings and Improvements				266,255
Total Initial Acquisition Costs				323,892
Costs of Improvements Capitalized Subsequent to Acquisition Costs				10,474
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				58,063
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				276,303
Total Carrying Value	334,366			334,366
Accumulated Depreciation	139,677			139,677
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	334,366
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	139,677
NEW YORK, NY | Leonard Pointe
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				38,010
Initial Costs, Buildings and Improvements				93,204
Total Initial Acquisition Costs				131,214
Costs of Improvements Capitalized Subsequent to Acquisition Costs				1,169
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				38,014
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				94,369
Total Carrying Value	132,383			132,383
Accumulated Depreciation	5,661			5,661
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	132,383
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	5,661
NEW YORK, NY | One William
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				6,422
Initial Costs, Buildings and Improvements				75,527
Total Initial Acquisition Costs				81,949
Costs of Improvements Capitalized Subsequent to Acquisition Costs				151
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				6,422
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				75,678
Total Carrying Value	82,100			82,100
Accumulated Depreciation	2,029			2,029
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	82,100
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	2,029
BOSTON, MA
Real Estate and Accumulated Depreciation
Encumbrances				389,639
Initial Costs, Land and Land Improvements				196,369
Initial Costs, Buildings and Improvements				860,159
Total Initial Acquisition Costs				1,056,528
Costs of Improvements Capitalized Subsequent to Acquisition Costs				583,950
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				208,410
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				1,432,068
Total Carrying Value	1,640,478			1,640,478
Accumulated Depreciation	250,296			250,296
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	1,640,478
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	250,296
BOSTON, MA | Garrison Square
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				6,475
Initial Costs, Buildings and Improvements				91,027
Total Initial Acquisition Costs				97,502
Costs of Improvements Capitalized Subsequent to Acquisition Costs				23,062
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				6,613
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				113,951
Total Carrying Value	120,564			120,564
Accumulated Depreciation	54,270			54,270
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	120,564
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	54,270
BOSTON, MA | Ridge at Blue Hills
Real Estate and Accumulated Depreciation
Encumbrances				25,000
Initial Costs, Land and Land Improvements				6,039
Initial Costs, Buildings and Improvements				34,869
Total Initial Acquisition Costs				40,908
Costs of Improvements Capitalized Subsequent to Acquisition Costs				4,884
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				6,420
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				39,372
Total Carrying Value	45,792			45,792
Accumulated Depreciation	20,913			20,913
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	45,792
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	20,913
BOSTON, MA | Inwood West
Real Estate and Accumulated Depreciation
Encumbrances				80,000
Initial Costs, Land and Land Improvements				20,778
Initial Costs, Buildings and Improvements				88,096
Total Initial Acquisition Costs				108,874
Costs of Improvements Capitalized Subsequent to Acquisition Costs				13,326
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				19,799
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				102,401
Total Carrying Value	122,200			122,200
Accumulated Depreciation	52,250			52,250
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	122,200
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	52,250
BOSTON, MA | 14 North
Real Estate and Accumulated Depreciation
Encumbrances				72,500
Initial Costs, Land and Land Improvements				10,961
Initial Costs, Buildings and Improvements				51,175
Total Initial Acquisition Costs				62,136
Costs of Improvements Capitalized Subsequent to Acquisition Costs				12,621
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				11,404
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				63,353
Total Carrying Value	74,757			74,757
Accumulated Depreciation	33,733			33,733
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	74,757
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	33,733
BOSTON, MA | 100 Pier 4
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				24,584
Total Initial Acquisition Costs				24,584
Costs of Improvements Capitalized Subsequent to Acquisition Costs				202,433
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				24,689
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				202,328
Total Carrying Value	227,017			227,017
Accumulated Depreciation	51,639			51,639
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	227,017
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	51,639
BOSTON, MA | 345 Harrison
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				32,938
Total Initial Acquisition Costs				32,938
Costs of Improvements Capitalized Subsequent to Acquisition Costs				326,016
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				44,889
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				314,065
Total Carrying Value	358,954			358,954
Accumulated Depreciation	25,913			25,913
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	358,954
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	25,913
BOSTON, MA | Currents on the Charles
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				12,580
Initial Costs, Buildings and Improvements				70,149
Total Initial Acquisition Costs				82,729
Costs of Improvements Capitalized Subsequent to Acquisition Costs				285
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				12,580
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				70,434
Total Carrying Value	83,014			83,014
Accumulated Depreciation	2,431			2,431
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	83,014
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	2,431
BOSTON, MA | The Commons at Windsor Gardens
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				34,609
Initial Costs, Buildings and Improvements				225,515
Total Initial Acquisition Costs				260,124
Costs of Improvements Capitalized Subsequent to Acquisition Costs				1,126
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				34,611
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				226,639
Total Carrying Value	261,250			261,250
Accumulated Depreciation	7,205			7,205
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	261,250
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	7,205
BOSTON, MA | Charles River Landing
Real Estate and Accumulated Depreciation
Encumbrances				69,315
Initial Costs, Land and Land Improvements				17,068
Initial Costs, Buildings and Improvements				112,777
Total Initial Acquisition Costs				129,845
Costs of Improvements Capitalized Subsequent to Acquisition Costs				51
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				17,068
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				112,828
Total Carrying Value	129,896			129,896
Accumulated Depreciation	722			722
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	129,896
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	722
BOSTON, MA | Lenox Farms
Real Estate and Accumulated Depreciation
Encumbrances				94,050
Initial Costs, Land and Land Improvements				17,692
Initial Costs, Buildings and Improvements				115,898
Total Initial Acquisition Costs				133,590
Costs of Improvements Capitalized Subsequent to Acquisition Costs				70
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				17,692
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				115,968
Total Carrying Value	133,660			133,660
Accumulated Depreciation	754			754
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	133,660
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	754
BOSTON, MA | Lodge at Ames Pond
Real Estate and Accumulated Depreciation
Encumbrances				48,774
Initial Costs, Land and Land Improvements				12,645
Initial Costs, Buildings and Improvements				70,653
Total Initial Acquisition Costs				83,298
Costs of Improvements Capitalized Subsequent to Acquisition Costs				76
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				12,645
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				70,729
Total Carrying Value	83,374			83,374
Accumulated Depreciation	466			466
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	83,374
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	466
PHILADELPHIA, PA
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				10,365
Initial Costs, Buildings and Improvements				96,050
Total Initial Acquisition Costs				106,415
Costs of Improvements Capitalized Subsequent to Acquisition Costs				935
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				10,416
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				96,934
Total Carrying Value	107,350			107,350
Accumulated Depreciation	4,483			4,483
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	107,350
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	4,483
PHILADELPHIA, PA | Park Square
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				10,365
Initial Costs, Buildings and Improvements				96,050
Total Initial Acquisition Costs				106,415
Costs of Improvements Capitalized Subsequent to Acquisition Costs				935
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				10,416
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				96,934
Total Carrying Value	107,350			107,350
Accumulated Depreciation	4,483			4,483
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	107,350
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	4,483
SOUTHWEST REGION
Real Estate and Accumulated Depreciation
Encumbrances				275,524
Initial Costs, Land and Land Improvements				135,395
Initial Costs, Buildings and Improvements				627,001
Total Initial Acquisition Costs				762,396
Costs of Improvements Capitalized Subsequent to Acquisition Costs				114,429
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				155,934
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				720,891
Total Carrying Value	876,825			876,825
Accumulated Depreciation	237,020			237,020
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	876,825
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	237,020
DALLAS, TX
Real Estate and Accumulated Depreciation
Encumbrances				275,524
Initial Costs, Land and Land Improvements				110,392
Initial Costs, Buildings and Improvements				392,559
Total Initial Acquisition Costs				502,951
Costs of Improvements Capitalized Subsequent to Acquisition Costs				62,405
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				127,157
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				438,199
Total Carrying Value	565,356			565,356
Accumulated Depreciation	126,540			126,540
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	565,356
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	126,540
DALLAS, TX | Thirty377
Real Estate and Accumulated Depreciation
Encumbrances				25,000
Initial Costs, Land and Land Improvements				24,036
Initial Costs, Buildings and Improvements				32,951
Total Initial Acquisition Costs				56,987
Costs of Improvements Capitalized Subsequent to Acquisition Costs				20,627
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				26,207
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				51,407
Total Carrying Value	77,614			77,614
Accumulated Depreciation	33,450			33,450
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	77,614
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	33,450
DALLAS, TX | Legacy Village
Real Estate and Accumulated Depreciation
Encumbrances				90,000
Initial Costs, Land and Land Improvements				16,882
Initial Costs, Buildings and Improvements				100,102
Total Initial Acquisition Costs				116,984
Costs of Improvements Capitalized Subsequent to Acquisition Costs				22,641
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				21,394
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				118,231
Total Carrying Value	139,625			139,625
Accumulated Depreciation	74,746			74,746
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	139,625
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	74,746
DALLAS, TX | Addison Apts at The Park
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				22,041
Initial Costs, Buildings and Improvements				11,228
Total Initial Acquisition Costs				33,269
Costs of Improvements Capitalized Subsequent to Acquisition Costs				11,058
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				30,969
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				13,358
Total Carrying Value	44,327			44,327
Accumulated Depreciation	10,768			10,768
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	44,327
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	10,768
DALLAS, TX | Addison Apts at The Park II
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				7,903
Initial Costs, Buildings and Improvements				554
Total Initial Acquisition Costs				8,457
Costs of Improvements Capitalized Subsequent to Acquisition Costs				3,718
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				8,442
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				3,733
Total Carrying Value	12,175			12,175
Accumulated Depreciation	2,664			2,664
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	12,175
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	2,664
DALLAS, TX | Addison Apts at The Park I
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				10,440
Initial Costs, Buildings and Improvements				634
Total Initial Acquisition Costs				11,074
Costs of Improvements Capitalized Subsequent to Acquisition Costs				4,158
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				11,055
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				4,177
Total Carrying Value	15,232			15,232
Accumulated Depreciation	3,270			3,270
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	15,232
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	3,270
DALLAS, TX | Savoye
Real Estate and Accumulated Depreciation
Encumbrances				32,575
Initial Costs, Land and Land Improvements				8,432
Initial Costs, Buildings and Improvements				50,482
Total Initial Acquisition Costs				58,914
Costs of Improvements Capitalized Subsequent to Acquisition Costs				47
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				8,432
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				50,529
Total Carrying Value	58,961			58,961
Accumulated Depreciation	331			331
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	58,961
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	331
DALLAS, TX | Savoye 2
Real Estate and Accumulated Depreciation
Encumbrances				36,023
Initial Costs, Land and Land Improvements				6,451
Initial Costs, Buildings and Improvements				56,616
Total Initial Acquisition Costs				63,067
Costs of Improvements Capitalized Subsequent to Acquisition Costs				11
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				6,451
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				56,627
Total Carrying Value	63,078			63,078
Accumulated Depreciation	365			365
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	63,078
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	365
DALLAS, TX | Fiori on Vitruvian Park
Real Estate and Accumulated Depreciation
Encumbrances				50,609
Initial Costs, Land and Land Improvements				7,934
Initial Costs, Buildings and Improvements				78,574
Total Initial Acquisition Costs				86,508
Costs of Improvements Capitalized Subsequent to Acquisition Costs				59
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				7,934
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				78,633
Total Carrying Value	86,567			86,567
Accumulated Depreciation	519			519
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	86,567
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	519
DALLAS, TX | Vitruvian West 1
Real Estate and Accumulated Depreciation
Encumbrances				41,317
Initial Costs, Land and Land Improvements				6,273
Initial Costs, Buildings and Improvements				61,418
Total Initial Acquisition Costs				67,691
Costs of Improvements Capitalized Subsequent to Acquisition Costs				86
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				6,273
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				61,504
Total Carrying Value	67,777			67,777
Accumulated Depreciation	427			427
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	67,777
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	427
AUSTIN, TX
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				16,417
Initial Costs, Buildings and Improvements				104,040
Total Initial Acquisition Costs				120,457
Costs of Improvements Capitalized Subsequent to Acquisition Costs				46,760
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				20,163
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				147,054
Total Carrying Value	167,217			167,217
Accumulated Depreciation	93,383			93,383
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	167,217
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	93,383
AUSTIN, TX | Barton Creek Landing
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				3,151
Initial Costs, Buildings and Improvements				14,269
Total Initial Acquisition Costs				17,420
Costs of Improvements Capitalized Subsequent to Acquisition Costs				24,444
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				5,358
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				36,506
Total Carrying Value	41,864			41,864
Accumulated Depreciation	29,696			29,696
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	41,864
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	29,696
AUSTIN, TX | Residences at the Domain
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				4,034
Initial Costs, Buildings and Improvements				55,256
Total Initial Acquisition Costs				59,290
Costs of Improvements Capitalized Subsequent to Acquisition Costs				14,140
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				4,524
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				68,906
Total Carrying Value	73,430			73,430
Accumulated Depreciation	41,561			41,561
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	73,430
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	41,561
AUSTIN, TX | Red Stone Ranch
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				5,084
Initial Costs, Buildings and Improvements				17,646
Total Initial Acquisition Costs				22,730
Costs of Improvements Capitalized Subsequent to Acquisition Costs				4,740
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				5,656
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				21,814
Total Carrying Value	27,470			27,470
Accumulated Depreciation	11,697			11,697
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	27,470
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	11,697
AUSTIN, TX | Lakeline Villas
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				4,148
Initial Costs, Buildings and Improvements				16,869
Total Initial Acquisition Costs				21,017
Costs of Improvements Capitalized Subsequent to Acquisition Costs				3,436
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				4,625
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				19,828
Total Carrying Value	24,453			24,453
Accumulated Depreciation	10,429			10,429
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	24,453
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	10,429
DENVER, CO
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				8,586
Initial Costs, Buildings and Improvements				130,402
Total Initial Acquisition Costs				138,988
Costs of Improvements Capitalized Subsequent to Acquisition Costs				5,264
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				8,614
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				135,638
Total Carrying Value	144,252			144,252
Accumulated Depreciation	17,097			17,097
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	144,252
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	17,097
DENVER, CO | Steele Creek
Real Estate and Accumulated Depreciation
Initial Costs, Land and Land Improvements				8,586
Initial Costs, Buildings and Improvements				130,402
Total Initial Acquisition Costs				138,988
Costs of Improvements Capitalized Subsequent to Acquisition Costs				5,264
Gross Amount at Which Carried at Close of Period, Land and Land Improvements				8,614
Gross Amount at Which Carried at Close of Period, Buildings & Buildings Improvements				135,638
Total Carrying Value	144,252			144,252
Accumulated Depreciation	17,097			$ 17,097
Reconciliation of the carrying amount of total real estate owned
Balance at end of the year	144,252
Reconciliation of total accumulated depreciation for real estate owned
Balance at end of year	17,097
Secured Debt
Real Estate and Accumulated Depreciation
Deferred Financing Costs and Other Non-Cash Adjustments	$ 32,982