EX-99 3 0003.txt EXHIBIT 99.2
HOME PROPERTIES OWNED COMMUNITIES RESULTS FOURTH QUARTER 2000 Q4'00 VERSUS Q4 '99 % GROWTH ----------- # OF DATE Q4 '00 Q4 '00 YEAR AGO RENTAL RENTAL APTS. ACQU. RENT/MO. OCCUP. OCCUP. RATES REVS. NOI ------ ------- -------- -------- -------- ------- ------- --- Rochester, New York Region: 1600 East Avenue 164 9/18/97 $ 1,267 74.1% 74.2% -4.5% -4.7% -12.2% 1600 Elmwood 210 Original $ 841 92.8% 91.3% 5.9% 7.6% 19.0% Brook Hill 192 IPO $ 868 95.3% 89.9% 5.6% 11.9% 19.6% Finger Lakes Manor 153 Original $ 758 90.6% 91.9% 3.8% 2.4% 32.0% Hamlet Court 98 1/1/96 $ 670 93.0% 94.0% 4.5% 3.5% -3.3% Hill Court South 95 10/31/97 $ 616 97.2% 94.7% 3.9% 6.6% 49.8% Ivy Ridge 135 10/31/97 $ 612 93.8% 92.9% 4.6% 5.5% -1.3% Newcastle Apartments 197 Original $ 727 89.8% 92.8% 3.9% 0.5% 8.4% Northgate Manor 224 11/3/94 $ 659 80.9% 87.6% 2.3% -5.7% -15.4% Perinton Manor 224 Original $ 777 95.6% 96.3% 3.9% 3.2% 6.7% Pines of Perinton 508 9/29/98 $ 523 97.7% 99.6% 0.2% -1.5% -7.8% Riverton Knolls 240 Original $ 836 92.6% 79.8% 6.0% 22.9% 79.3% Spanish Gardens 220 IPO $ 654 93.0% 96.8% 5.0% 0.8% -6.9% Springcreek 82 Original $ 572 99.5% 96.0% 2.7% 6.4% 34.8% The Meadows 113 Original $ 651 93.8% 96.1% 4.3% 1.8% 3.6% Woodgate 120 6/30/97 $ 741 96.4% 94.8% 5.0% 6.6% 6.4% ------ ------------ -------- ------- ------ ------- ------ Total Rochester Region 2,975 $ 725 91.4% 90.7% 3.0% 3.8% 8.4% BUFFALO, NEW YORK REGION: Emerson Square 96 10/15/97 $ 579 96.4% 98.9% 5.1% 2.4% -21.5% Fairways 32 10/15/97 $ 694 95.7% 99.5% 4.0% 0.3% -13.3% Garden Village 315 IPO $ 644 94.6% 97.7% 2.5% -0.7% -11.9% Idylwood 720 1/1/95 $ 601 95.7% 95.4% 3.1% 3.4% -4.5% Paradise Lane 324 10/15/97 $ 613 97.2% 97.5% 3.4% 3.1% 3.1% Raintree Island 504 Original $ 634 96.9% 97.3% 3.6% 3.2% 1.1% Williamstowne Village 528 Original $ 632 95.3% 93.7% 1.6% 3.3% -0.5% ------ -------------- -------- -------- ------- ------- ------- Total Buffalo Region 2,519 $ 621 95.9% 96.1% 2.8% 2.8% -3.4% SYRACUSE, NEW YORK REGION: Candlewood Gardens 126 1/1/96 $ 529 98.3% 97.2% 4.1% 5.3% -16.3% Conifer Village 199 IPO $ 566 100.0% 100.0% 0.2% 0.2% -2.0% Fairview Heights 210 Original $ 809 97.0% 99.8% 4.9% 2.1% -8.1% Harborside Manor 281 9/30/94 $ 605 94.0% 95.7% 3.4% 1.6% 0.5% Pearl Street 60 5/17/95 $ 523 86.3% 82.5% 5.2% 10.0% 78.8% Village Green (includes 448 12/19/94 $ 637 93.2% 90.6% 3.2% 6.3% -5.1% Fairways) Westminster Place 240 1/1/96 $ 590 97.0% 95.4% 6.1% 7.9% -6.2% ------ ------------ -------- -------- ------- ------- ------- Total Syracuse Region 1,564 $ 625 95.4% 95.1% 3.6% 4.2% -3.7% LONG ISLAND, NY REGION Bayview / Colonial 160 11/1/00 n/a n/a n/a n/a n/a n/a Coventry Village 94 7/31/98 $ 1,032 98.4% 94.5% 10.1% 14.7% -15.3% East Winds 96 11/1/00 n/a n/a n/a n/a n/a n/a Lake Grove Apartments 368 2/3/97 $ 1,040 94.3% 96.7% 11.3% 8.4% 3.6% Maple Tree 84 11/1/00 n/a n/a n/a n/a n/a n/a Mid- Island Estates 232 7/1/97 $ 914 97.4% 96.9% 7.7% 8.1% 23.9% Ryder Terrace 24 11/1/00 n/a n/a n/a n/a n/a n/a South Bay Manor 61 9/11/00 $ 883 88.1% n/a n/a n/a n/a Terry Apartments 65 11/1/00 n/a n/a n/a n/a n/a n/a ----- ----- ------ ------ ----- ------ ----- Total Long Island Region 1,184 $ 988 95.2% 96.5% 10.0% 9.3% 6.8% HUDSON VALLEY, NY REGION Carriage Hill 140 7/17/96 $ 860 94.5% 91.6% 4.5% 7.8% -12.8% Cornwall Park 75 7/17/96 $ 1,247 96.3% 96.2% 13.4% 13.5% 16.9% Lakeshore Villas 152 7/17/96 $ 749 90.0% 96.7% 13.7% 5.6% -31.7% Mountainside 227 7/7/98 $ 852 96.6% 98.6% 5.8% 3.7% -4.5% Patricia 100 7/7/98 $ 955 97.3% 97.9% 10.3% 9.7% 30.0% Sunset Gardens 217 7/17/96 $ 665 92.3% 89.3% 7.6% 11.4% -9.8% ------ ------------ --------- -------- ------- -------- ------- Total Hudson 911 $ 835 94.5% 95.0% 8.4% 7.9% -4.3% Valley Region NEW JERSEY REGION East Hill Gardens 33 7/7/98 $ 949 99.1% 92.0% 10.0% 18.5% 32.6% Lakeview 106 7/7/98 $ 872 98.8% 96.5% 8.9% 11.4% 18.1% Oak Manor 77 7/7/98 $ 1,231 97.6% 98.1% 9.4% 9.0% 33.1% Pleasantview 1,142 7/7/98 $ 829 95.0% 94.9% 9.1% 9.1% 10.4% Pleasure Bay 270 7/7/98 $ 689 97.9% 95.0% 6.2% 9.6% 7.9% The Towers 137 7/7/98 $ 1,017 98.1% 96.9% 5.6% 7.0% 10.9% Wayne Village 275 7/7/98 $ 888 96.7% 96.1% 7.2% 7.9% 2.3% Windsor Realty 67 7/7/98 $ 833 94.0% 95.8% 8.5% 6.4% 9.1% Royal Gardens 550 5/28/97 $ 867 97.1% 96.2% 6.6% 7.5% 16.4% Apartments -------- ------------ --------- -------- -------- ------- ------- Total New Jersey Region 2,657 $ 853 96.4% 95.6% 7.8% 8.7% 12.1% EASTERN PENNSYLVANIA REGION Arbor Crossing 134 7/28/99 $ 673 97.1% 98.0% 5.5% 4.6% 11.7% Beechwood Gardens 160 7/7/98 $ 651 92.9% 99.1% 7.2% 0.5% -4.6% Broadlawn 316 3/15/00 $ 866 94.6% n/a n/a n/a n/a Castle Club 158 3/15/00 $ 709 98.3% n/a n/a n/a n/a Cedar Glen 110 3/3/98 $ 464 84.9% 94.2% 2.2% -7.9% -55.1% Chesterfield 247 9/23/97 $ 729 95.6% 91.6% 6.4% 10.8% 24.7% Curren Terrace 318 9/23/97 $ 768 93.5% 94.9% 5.1% 3.5% 4.6% Executive House 100 9/23/97 $ 812 96.2% 94.6% 5.6% 7.3% 19.2% Glen Brook 173 7/28/99 $ 648 98.5% 91.3% 4.7% 12.9% 13.4% Glen Manor 174 9/23/97 $ 631 95.5% 93.5% 5.2% 7.5% 11.2% Golf Club 399 3/15/00 $ 843 90.0% n/a n/a n/a n/a Hill Brook Place 274 7/28/99 $ 665 96.6% 93.4% 4.7% 8.4% 21.5% Lansdowne Group 222 9/23/97 $ 663 96.1% 95.3% 4.6% 5.5% -1.8% New Orleans Park 308 9/23/97 $ 672 94.4% 94.0% 6.5% 6.9% 8.2% Racquet Club 467 7/7/98 $ 816 97.0% 95.4% 4.3% 6.0% 15.2% Ridgeway Court 66 2/26/99 $ 657 96.0% 89.0% 5.1% 13.3% 29.6% Ridley Brook 244 7/28/99 $ 684 98.4% 98.7% 6.7% 6.3% 5.4% Sherry Lake 298 7/23/98 $ 903 97.4% 96.2% 5.0% 6.4% 2.6% Sherwood Gardens 103 5/27/99 $ 683 93.9% 81.8% 7.4% 23.5% 91.3% Springwood Garden 77 9/23/97 $ 646 90.6% 89.6% 6.4% 7.5% 47.7% Sugartown Mews 628 3/15/00 $ 929 91.8% n/a n/a n/a n/a Trexler Park 249 3/15/00 $ 842 92.5% n/a n/a n/a n/a Valley Park South 384 11/25/96 $ 814 94.5% 95.8% 7.1% 5.6% 4.2% Valley View 176 9/23/97 $ 699 93.9% 92.3% 4.0% 5.8% 11.6% Village Square 128 9/23/97 $ 760 95.3% 94.3% 10.9% 12.1% 16.4% William Henry 363 3/15/00 $ 865 93.2% n/a n/a n/a n/a ------ -------------- --------- -------- ------- -------- ------ Total Eastern Penn. 6,276 $ 773 94.4% 94.5% 5.7% 6.8% 10.0% Region WESTERN PENNSYLVANIA REGION Cloverleaf Village 148 11/4/97 $ 584 86.6% 93.6% 5.8% -2.1% -48.1% ----- ------------- -------- --------- ------- ------- ------- Total Western Penn. 148 $ 584 86.6% 93.6% 5.8% -2.1% -48.1% Region DETROIT, MICHIGAN REGION Bayberry Place 120 9/30/00 $ 725 98.0% n/a n/a n/a n/a Carriage Hill 168 9/29/98 $ 735 97.9% 99.2% 5.3% 3.9% 2.0% Carriage Park 256 9/29/98 $ 682 95.8% 93.2% 3.2% 6.2% -9.5% Cherry Hill Club 164 7/7/98 $ 594 99.1% 90.9% 4.0% 13.3% 25.2% Cherry Hill Village 224 9/29/98 $ 666 96.1% 96.0% 5.2% 5.4% 11.5% Deerfield Woods 144 3/22/00 $ 716 98.4% n/a n/a n/a n/a Hampton Court 182 9/30/00 $ 577 89.1% n/a n/a n/a n/a The Lakes 434 11/5/99 $ 878 95.1% n/a n/a n/a n/a Lewiston Portfolio 3,106 10/29/97 $ 679 96.3% 95.5% 6.1% 7.0% 1.5% Macomb Manor 216 3/22/00 $ 631 96.9% n/a n/a n/a n/a Scotsdale 376 11/26/97 $ 646 96.7% 97.1% 5.2% 4.7% 2.8% Springwells Park 303 4/8/99 $ 928 95.1% 89.9% 3.5% 9.3% 17.9% -------- ------------- --------- -------- ------- ------- -------- Total Detroit Region 5,693 $ 701 96.1% 95.0% 5.5% 6.9% 3.4% INDIANA REGION Candlewood Apartments 310 2/10/98 $ 664 94.1% 88.3% 2.0% 8.7% 22.4% Maple Lane 396 7/9/99 $ 643 90.6% 93.9% 4.7% 1.2% 6.1% ------ ------------- -------- --------- ------- ------- ------- Total Indiana Region 706 $ 652 92.2% 91.4% 3.5% 4.3% 12.8% NORTHERN VIRGINIA REGION Braddock Lee 254 3/16/98 $ 874 90.3% 97.8% 9.3% 0.9% 9.1% Carriage Hill - VA 664 7/1/99 $ 772 95.0% 96.5% 3.5% 1.9% -4.5% East Meadow 150 8/1/00 $ 1,030 98.6% n/a n/a n/a n/a Elmwood Terrace 504 6/30/00 n/a n/a n/a n/a n/a n/a Laurel Pines 236 7/1/99 $ 735 90.9% 94.3% 8.1% 4.4% -8.5% The Manor 198 2/19/99 $ 789 93.3% 94.7% 11.0% 9.4% 40.2% Orleans Village 851 11/16/00 n/a n/a n/a n/a n/a n/a Park Shirlington 294 3/16/98 $ 906 95.6% 96.4% 8.6% 7.7% 12.1% Pavilion Apartments 432 7/1/99 $ 1,114 92.4% 96.6% 2.8% -1.7% -2.1% Riverdale 580 7/1/99 $ 604 93.2% 94.8% 5.6% 3.7% -9.6% Seminary Hill 296 7/1/99 $ 913 93.8% 94.3% 7.9% 7.3% 10.5% Seminary Towers 548 7/1/99 $ 935 92.9% 93.0% 9.2% 8.9% 13.2% -------- ------------ -------- -------- ------- ------- ------- Total No. Virginia Region 5,007 $ 746 93.3% 95.4% 6.6% 4.1% 3.4% CONNECTICUT REGION Apple Hill 498 3/27/98 $ 835 94.7% 96.6% 8.9% 6.7% 36.5% ------- ------------- -------- -------- -------- -------- -------- Total Connecticut Region 498 $ 835 94.7% 96.6% 8.9% 6.7% 36.5% BALTIMORE REGION Bonnie Ridge 966 7/1/99 $ 886 92.2% 90.6% 5.9% 7.8% 10.2% Canterbury Apartments 618 7/16/99 $ 644 96.9% 96.3% 4.7% 5.4% 0.4% Carriage House 50 4/30/98 $ 555 98.0% 95.8% 6.5% 9.0% 56.3% Country Club 150 7/16/99 $ 643 93.6% 88.5% 10.3% 16.7% 31.3% Apartments Country Village 344 4/30/98 $ 664 95.8% 95.8% 7.3% 7.6% 6.4% Doub Meadow 95 7/16/99 $ 596 96.6% 97.9% -0.5% -1.9% -26.9% Falcon Crest 396 7/16/99 $ 688 95.5% 83.5% 6.2% 21.4% 29.3% Gateway Village 132 7/16/99 $ 828 97.0% 98.6% 6.8% 5.1% 2.4% Morningside Heights 1,050 4/30/98 $ 634 94.7% 93.7% 6.6% 7.7% 5.3% Old Friends 51 2/1/00 $ 677 97.2% n/a n/a n/a n/a Owings Run 504 7/16/99 $ 880 95.2% 93.1% 3.7% 5.9% 3.8% Rolling Park 144 9/15/98 $ 678 90.8% 97.1% 8.7% 1.7% -5.1% Selford Townhomes 102 7/16/99 $ 847 95.7% 96.1% 9.4% 8.9% 13.3% Shakespeare Park 82 7/16/99 $ 611 99.3% 100.0% 5.5% 4.8% 11.0% Strawberry Hill 145 4/30/98 $ 588 90.9% 93.2% 5.9% 3.5% -3.5% Tamarron Apartments 132 7/16/99 $ 892 99.6% 98.1% 4.7% 6.2% 6.5% Timbercroft Townhomes 284 7/16/99 $ 624 99.4% 99.0% 2.3% 2.6% -0.4% Village Square 370 7/16/99 $ 731 98.0% 97.3% 8.9% 9.6% 12.0% Townhomes ------- ------------- --------- ------- ------- ------- ------- Total Baltimore Region 5,615 $ 725 95.1% 93.6% 5.8% 7.8% 7.2% CHICAGO REGION Blackhawk 371 10/20/00 n/a n/a n/a n/a n/a n/a Colonies 672 6/23/98 $ 612 94.9% 88.7% 6.8% 14.1% 35.3% Colony Apartments 783 9/1/99 $ 802 98.3% 98.2% 5.9% 5.9% -1.9% Cypress Place 192 12/27/00 n/a n/a n/a n/a n/a n/a --------- -------------- ------ ------ ----- ----- ----- Total Chicago Region 2,018 $ 714 96.9% 94.5% 6.3% 9.0% 10.6% PORTLAND, MAINE REGION Mill Co. Gardens 96 7/7/98 $ 562 97.3% 97.5% 8.1% 7.9% -3.7% Redbank Village 500 7/7/98 $ 622 92.4% 97.1% 8.9% 3.8% -0.1% --------- ------------- -------- --------- -------- ------- -------- Total Portland, Maine 596 $ 612 93.1% 97.1% 8.7% 4.4% -0.6% Region COLUMBUS, OHIO REGION Westin Gardens 242 7/7/98 $ 524 88.1% 89.0% 7.6% 6.7% 14.7% ------ ------------- --------- -------- -------- ------- -------- Total Columbus Region 242 $ 524 88.1% 89.0% 7.6% 6.7% 14.7% DELAWARE REGION Chestnut Crossing 432 7/16/99 $ 629 82.2% 95.7% 14.8% -1.3% -19.7% ------ ------------ -------- --------- -------- -------- ------- Total Delaware Region 432 $ 629 82.2% 95.7% 14.8% -1.3% -19.7% TOTAL OWNED PORTFOLIO 39,041 $ 744 94.7% n/a n/a n/a n/a TOTAL CORE PORTFOLIO 23,530 $ 717 94.9% 94.6% 5.8% 6.2% 5.8%
HOME PROPERTIES OWNED COMMUNITIES RESULTS YTD Through December 2000 YTD '00 versus YTD '99 % Growth # of Date YTD '00 YTD '00 Year Ago Rental Rental Apts. Acqu. Rent/Mo. Occup. Occup. Rates Revs. NOI -------- -------- -------- --------- -------- -------- ------- ------- Rochester, New York Region: 1600 East Avenue 164 9/18/97 $1,320 76.8% 80.5% -0.3% -4.9% 0.7% 1600 Elmwood 210 Original $ 823 92.8% 94.6% 5.8% 3.7% 9.9% Brook Hill 192 IPO $ 843 94.4% 93.0% 3.8% 5.4% 9.3% Finger Lakes Manor 153 Original $ 745 91.8% 92.2% 4.6% 4.3% 15.2% Hamlet Court 98 1/1/96 $ 659 94.6% 94.2% 3.8% 4.2% 3.9% Hill Court South 95 10/31/97 $ 607 96.5% 96.2% 3.9% 4.3% 16.7% Ivy Ridge 135 10/31/97 $ 603 95.7% 95.0% 4.3% 5.1% 8.7% Newcastle Apartments 197 Original $ 719 90.7% 95.8% 3.8% -1.7% -1.3% Northgate Manor 224 11/3/94 $ 650 85.6% 90.8% 3.7% -2.3% -11.6% Perinton Manor 224 Original $ 764 96.4% 96.1% 3.5% 3.9% 8.2% Pines of Perinton 508 9/29/98 $ 522 97.7% 99.1% 1.4% -0.2% 12.4% Riverton Knolls 240 Original $ 820 85.0% 86.4% 6.8% 5.0% 15.9% Spanish Gardens 220 IPO $ 641 94.4% 96.5% 3.7% 1.5% 1.3% Springcreek 82 Original $ 569 98.0% 96.8% 2.7% 3.9% 12.3% The Meadows 113 Original $ 641 95.5% 93.3% 4.2% 6.6% 18.0% Woodgate 120 6/30/97 $ 727 96.1% 96.3% 4.5% 4.3% 8.0% ------- ------- ------- ------- ------ ------ ------- Total Rochester Region 2,975 $ 718 91.5% 92.9% 3.5% 2.0% 7.4% BUFFALO, NEW YORK REGION: Emerson Square 96 10/15/97 $ 566 98.0% 98.6% 3.7% 2.8% 4.8% Fairways 32 10/15/97 $ 683 97.5% 97.2% 5.1% 5.4% 14.8% Garden Village 315 IPO $ 638 96.1% 97.1% 2.9% 1.7% -1.6% Idylwood 720 1/1/95 $ 594 95.6% 94.7% 2.9% 4.0% 11.4% Paradise Lane 324 10/15/97 $ 603 97.5% 96.1% 3.3% 4.8% 13.1% Raintree Island 504 Original $ 625 96.9% 96.9% 3.5% 3.4% 5.8% Williamstowne Village 528 Original $ 628 94.7% 91.4% 1.5% 5.1% 10.1% ------ ------- ------- ------- ------ ------ ------- Total Buffalo Region 2,519 $ 614 96.1% 95.1% 2.8% 3.9% 8.2% SYRACUSE, NEW YORK REGION: Candlewood Gardens 126 1/1/96 $ 518 96.5% 97.5% 4.0% 2.9% -1.8% Conifer Village 199 IPO $ 566 100.0% 100.0% 0.0% 0.0% -1.6% Fairview Heights 210 Original $ 780 94.0% 95.4% 5.0% 3.5% 6.8% Harborside Manor 281 9/30/94 $ 595 95.2% 95.0% 3.3% 3.7% 7.1% Pearl Street 60 5/17/95 $ 511 90.7% 90.0% 4.7% 5.7% 8.6% Village Green (inclu 448 12/19/94 $ 630 91.5% 94.1% 3.3% 0.3% -5.0% Fairways) Westminster Place 240 1/1/96 $ 576 96.3% 96.2% 4.5% 4.7% -0.7% ------- -------- --------- -------- ------- ------- -------- Total Syracuse Region 1,564 $ 614 94.6% 95.6% 3.5% 2.5% 0.5% LONG ISLAND, NY REGION Bayview / Colonial 160 11/1/00 n/a n/a n/a n/a n/a n/a Coventry Village 94 7/31/98 $ 994 96.6% 95.2% 9.2% 10.7% 17.8% East Winds 96 11/1/00 n/a n/a n/a n/a n/a n/a Lake Grove Apartments 368 2/3/97 $ 992 95.3% 95.9% 11.1% 10.5% 1.1% Maple Tree 84 11/1/00 n/a n/a n/a n/a n/a n/a Mid- Island Estates 232 7/1/97 $ 888 96.6% 94.3% 7.4% 10.0% 17.3% Ryder Terrace 24 11/1/00 n/a n/a n/a n/a n/a n/a South Bay Manor 61 9/11/00 n/a n/a n/a n/a n/a n/a Terry Apartments 65 11/1/00 n/a n/a n/a n/a n/a n/a --------- -------- --------- --------- -------- ------- -------- Total Long Island Region 1,184 $ 958 95.9% 95.3% 9.7% 10.3% 7.1% HUDSON VALLEY, NY REGION Carriage Hill 140 7/17/96 $ 837 95.8% 94.0% 4.0% 5.9% 2.2% Cornwall Park 75 7/17/96 $ 1,194 95.8% 94.2% 14.1% 16.1% 18.2% Lakeshore Villas 152 7/17/96 $ 708 93.1% 97.1% 10.3% 5.6% -11.1% Mountainside 227 7/7/98 $ 833 97.4% 97.8% 5.6% 5.1% 5.8% Patricia 100 7/7/98 $ 916 98.2% 97.8% 9.8% 10.2% 17.3% Sunset Gardens 217 7/17/96 $ 646 89.2% 93.1% 7.7% 3.0% -4.7% ------- --------- -------- --------- ------ -------- ------- Total Hudson Valley 911 $ 807 94.8% 95.8% 7.9% 6.7% 4.2% Region NEW JERSEY REGION East Hill Gardens 33 7/7/98 $ 910 98.6% 96.0% 9.9% 12.8% 19.2% Lakeview 106 7/7/98 $ 844 97.9% 95.3% 8.2% 11.2% 17.6% Oak Manor 77 7/7/98 $ 1,185 98.7% 96.9% 10.3% 12.4% 26.4% Pleasantview 1,142 7/7/98 $ 799 95.0% 94.4% 8.1% 8.7% 12.8% Pleasure Bay 270 7/7/98 $ 672 97.3% 94.6% 5.8% 8.8% 9.2% The Towers 137 7/7/98 $ 992 98.4% 96.5% 5.2% 7.4% 7.5% Wayne Village 275 7/7/98 $ 861 97.3% 96.0% 7.1% 8.5% 6.1% Windsor Realty 67 7/7/98 $ 805 94.6% 96.0% 7.8% 6.1% 2.3% Royal Gardens 550 5/28/97 $ 847 95.8% 94.7% 6.4% 7.7% 14.4% Apartments --------- --------- -------- -------- -------- -------- -------- Total New Jersey Region 2,657 $ 827 96.1% 95.0% 7.4% 8.6% 12.4% EASTERN PENNSYLVANIA REGION Arbor Crossing 134 7/28/99 $ 659 96.1% n/a n/a n/a n/a Beechwood Gardens 160 7/7/98 $ 625 95.7% 97.7% 4.3% 2.2% -2.1% Broadlawn 316 3/15/00 n/a n/a n/a n/a n/a n/a Castle Club 158 3/15/00 n/a n/a n/a n/a n/a n/a Cedar Glen 110 3/3/98 $ 462 91.6% 96.2% 3.8% -0.9% -15.1% Chesterfield 247 9/23/97 $ 714 95.5% 94.1% 7.5% 9.1% 15.9% Curren Terrace 318 9/23/97 $ 756 94.3% 96.6% 6.9% 4.5% 1.8% Executive House 100 9/23/97 $ 798 94.8% 92.9% 10.2% 12.6% 23.6% Glen Brook 173 7/28/99 $ 634 96.4% n/a n/a n/a n/a Glen Manor 174 9/23/97 $ 616 95.5% 96.6% 4.2% 3.0% 1.7% Golf Club 399 3/15/00 n/a n/a n/a n/a n/a n/a Hill Brook Place 274 7/28/99 $ 652 96.9% n/a n/a n/a n/a Lansdowne Group 222 9/23/97 $ 652 95.3% 95.8% 4.0% 3.5% -1.1% New Orleans Park 308 9/23/97 $ 657 94.6% 93.9% 7.4% 8.2% 11.2% Racquet Club 467 7/7/98 $ 802 96.1% 95.1% 4.3% 5.5% 11.1% Ridgeway Court 66 2/26/99 $ 645 92.6% n/a n/a n/a n/a Ridley Brook 244 7/28/99 $ 669 98.1% n/a n/a n/a n/a Sherry Lake 298 7/23/98 $ 888 96.4% 96.4% 7.5% 7.5% 10.5% Sherwood Gardens 103 5/27/99 $ 668 92.9% n/a n/a n/a n/a Springwood Garden 77 9/23/97 $ 629 92.3% 89.5% 5.7% 8.8% 18.9% Sugartown Mews 628 3/15/00 n/a n/a n/a n/a n/a n/a Trexler Park 249 3/15/00 n/a n/a n/a n/a n/a n/a Valley Park South 384 11/25/96 $ 792 95.6% 95.4% 6.3% 6.5% 8.1% Valley View 176 9/23/97 $ 688 92.6% 89.0% 6.5% 10.8% 17.7% Village Square 128 9/23/97 $ 733 94.8% 95.0% 12.8% 12.8% 23.6% William Henry 363 3/15/00 n/a n/a n/a n/a n/a n/a -------- --------- ------- --------- -------- -------- -------- Total Eastern Penn. 6,276 $ 711 95.4% 95.0% 6.3% 6.6% 8.7% Region WESTERN PENNSYLVANIA REGION Cloverleaf Village 148 11/4/97 $ 572 89.4% 88.6% 6.9% 7.8% 6.3% ------ ---------- -------- --------- ---------- ------- ------- Total Western Penn. 148 $ 572 89.4% 88.6% 6.9% 7.8% 6.3% Region DETROIT, MICHIGAN REGION Bayberry Place 120 9/30/00 n/a n/a n/a n/a n/a n/a Carriage Hill 168 9/29/98 $ 720 98.1% 97.8% 4.8% 5.2% 10.7% Carriage Park 256 9/29/98 $ 671 96.2% 95.0% 4.4% 5.6% 1.8% Cherry Hill Club 164 7/7/98 $ 587 95.8% 90.4% 4.6% 10.8% 26.7% Cherry Hill Village 224 9/29/98 $ 656 96.3% 96.4% 6.0% 5.7% 7.3% Deerfield Woods 144 3/22/00 n/a n/a n/a n/a n/a n/a Hampton Court 182 9/30/00 n/a n/a n/a n/a n/a n/a The Lakes 434 11/5/99 $ 859 96.1% n/a n/a n/a n/a Lewiston Portfolio 3,106 10/29/97 $ 664 95.6% 95.8% 5.7% 5.5% 6.0% Macomb Manor 216 3/22/00 n/a n/a n/a n/a n/a n/a Scotsdale 376 11/26/97 $ 635 97.2% 96.2% 5.5% 6.6% 10.7% Springwells Park 303 4/8/99 $ 917 95.1% n/a n/a n/a n/a --------- --------- ---------- -------- ------- -------- -------- Total Detroit Region 5,693 $ 693 95.9% 95.7% 5.6% 5.8% 6.9% INDIANA REGION Candlewood Apartments 310 2/10/98 $ 660 91.3% 90.4% 3.3% 4.2% -1.9% Maple Lane 396 7/9/99 $ 629 89.5% n/a n/a n/a n/a ------- ---------- -------- -------- -------- ------- ------- Total Indiana Region 706 $ 643 90.3% 90.4% 3.3% 4.2% -1.9% NORTHERN VIRGINIA REGION Braddock Lee 254 3/16/98 $ 839 94.1% 97.1% 7.6% 4.2% 2.4% Carriage Hill - VA 664 7/1/99 $ 763 95.0% n/a n/a n/a n/a East Meadow 150 8/1/00 n/a n/a n/a n/a n/a n/a Elmwood Terrace 504 6/30/00 n/a n/a n/a n/a n/a n/a Laurel Pines 236 7/1/99 $ 710 90.8% n/a n/a n/a n/a The Manor 198 2/19/99 $ 754 93.3% n/a n/a n/a n/a Orleans Village 851 11/16/00 n/a n/a n/a n/a n/a n/a Park Shirlington 294 3/16/98 $ 872 95.7% 96.5% 7.5% 6.6% 4.4% Pavilion Apartments 432 7/1/99 $1,115 95.1% n/a n/a n/a n/a Riverdale 580 7/1/99 $ 592 92.7% n/a n/a n/a n/a Seminary Hill 296 7/1/99 $ 886 94.1% n/a n/a n/a n/a Seminary Towers 548 7/1/99 $ 896 94.2% n/a n/a n/a n/a ---------- ---------- -------- -------- -------- -------- -------- Total No. Virginia Region 5,007 $ 820 94.2% 96.8% 7.5% 5.6% 3.5% CONNECTICUT REGION Apple Hill 498 3/27/98 $ 804 95.2% 96.4% 7.1% 5.8% 13.6% -------- ---------- -------- --------- -------- ------- -------- Total Connecticut Region 498 $ 804 95.2% 96.4% 7.1% 5.8% 13.6% BALTIMORE REGION Bonnie Ridge 966 7/1/99 $ 863 87.7% n/a n/a n/a n/a Canterbury Apartments 618 7/16/99 $ 628 96.5% n/a n/a n/a n/a Carriage House 50 4/30/98 $ 537 96.3% 97.8% 4.7% 3.0% 11.2% Country Club 150 7/16/99 $ 623 92.1% n/a n/a n/a n/a Apartments Country Village 344 4/30/98 $ 645 94.7% 95.1% 5.9% 5.5% 2.1% Doub Meadow 95 7/16/99 $ 587 97.6% n/a n/a n/a n/a Falcon Crest 396 7/16/99 $ 674 89.0% n/a n/a n/a n/a Gateway Village 132 7/16/99 $ 804 98.1% n/a n/a n/a n/a Morningside Heights 1,050 4/30/98 $ 617 92.9% 93.3% 5.7% 5.3% 4.7% Old Friends 51 2/1/00 n/a n/a n/a n/a n/a n/a Owings Run 504 7/16/99 $ 860 93.3% n/a n/a n/a n/a Rolling Park 144 9/15/98 $ 654 95.5% 97.5% 7.9% 5.6% 3.0% Selford Townhomes 102 7/16/99 $ 814 96.1% n/a n/a n/a n/a Shakespeare Park 82 7/16/99 $ 616 98.8% n/a n/a n/a n/a Strawberry Hill 145 4/30/98 $ 573 92.9% 94.5% 4.8% 2.9% -3.5% Tamarron Apartments 132 7/16/99 $ 875 98.7% n/a n/a n/a n/a Timbercroft Townhomes 284 7/16/99 $ 623 99.5% n/a n/a n/a n/a Village Square 370 7/16/99 $ 704 97.4% n/a n/a n/a n/a Townhomes ---------- ---------- --------- --------- -------- --------- ------- Total Baltimore Region 5,615 $ 708 93.2% 94.3% 5.8% 5.1% 3.7% CHICAGO REGION Blackhawk 371 10/20/00 n/a n/a n/a n/a n/a n/a Colonies 672 6/23/98 $ 602 91.3% 85.1% 6.0% 13.4% 39.3% Colony Apartments 783 9/1/99 $ 782 98.0% n/a n/a n/a n/a Cypress Place 192 12/27/00 n/a n/a n/a n/a n/a n/a --------- ---------- ---------- --------- -------- --------- -------- Total Chicago Region 2,018 $ 699 95.3% 85.1% 6.0% 13.4% 39.3% PORTLAND, MAINE REGION Mill Co. Gardens 96 7/7/98 $ 546 97.3% 97.0% 7.9% 8.4% 10.0% Redbank Village 500 7/7/98 $ 604 94.4% 95.4% 9.2% 8.0% 7.4% ------- ---------- --------- -------- ------- -------- -------- Total Portland Region 596 $ 595 94.8% 95.7% 9.2% 8.0% 7.8% COLUMBUS, OHIO REGION Westin Gardens 242 7/7/98 $ 513 88.9% 92.5% 9.9% 5.6% -4.8% ------ --------- --------- --------- ------- ------- ------- Total Columbus Region 242 $ 513 88.9% 92.5% 9.9% 5.6% -4.8% DELAWARE REGION Chestnut Crossing 432 7/16/99 $ 592 88.6% n/a n/a n/a n/a ------- --------- -------- ------- ------- ------- ------ Total Delaware Region 432 $ 592 88.6% n/a n/a n/a n/a TOTAL OWNED PORTFOLIO 39,041 $ 723 94.5% n/a n/a n/a n/a TOTAL CORE PORTFOLIO 23,530 $ 701 94.7% 94.6% 5.7% 5.8% 7.6%
HOME PROPERTIES OF NEW YORK, INC. December 31, 2000 and 1999 Supplemental Information SAME STORE OPERATING EXPENSE DETAIL 4th Qtr 4th Qtr YEAR YEAR 2000 1999 QUARTER % 2000 1999 YEAR % ACTUAL ACTUAL VARIANCE VARIANCE ACTUAL ACTUAL VARIANCE VARIANCE ------- ------ -------- -------- ------ ------ -------- -------- ELECTRICITY 878 873 (5) -0.6% 3,788 3,688 (100) -2.7% GAS 2,713 2,025 (688) -34.0% 8,557 7,705 (852) -11.1% WATER & SEWER 1,357 1,307 ( 50) -3.8% 5,408 5,274 (134) -2.5% REPAIRS & 3,601 3,752 151 4.0% 13,470 13,433 (37) -0.3% MAINTENANCE PERSONNEL EXPENSE 5,165 4,551 (614) -13.5% 20,733 19,485 (1,248) -6.4% SITE LEVEL 227 92 (135) -146.7% 761 342 (419) -122.5% INCENTIVE COMPENSATION ADVERTISING 947 895 (52) -5.8% 3,368 3,341 (27) -0.8% GROUND RENT 53 51 (2) -3.9% 205 196 ( 9) -4.6% LEGAL & 187 161 (26) -16.1% 560 532 (28) -5.3% PROFESSIONAL OFFICE & 745 732 (13) -1.8% 2,594 2,416 (178) -7.4% TELEPHONE % RENT 56 48 ( 8) -16.7% 246 203 ( 43) -21.2% PROPERTY INS. 410 226 (184) -81.4% 1,099 780 (319) -40.9% REAL ESTATE 5,306 5,122 (184) -3.6% 20,799 20,038 (761) -3.8% SNOW 141 48 ( 93) -193.8% 602 666 64 9.6% TRASH 408 393 ( 15) -3.8% 1,566 1,471 ( 95) -6.5% ------- -------- ------- -------- ------ ------ ------ ------- TOTAL 22,194 20,276 (1,918) -9.5% 83,756 79,570 (4,186) -5.3% ===== ======== ======= ======== ====== ====== ====== =======
HOME PROPERTIES OF NEW YORK, INC. DECEMBER 31, 2000 AND 1999 SUPPLEMENTAL INFORMATION BREAKDOWN OF "OTHER INCOME"
Q4 '00 Q4 '99 YTD '00 YTD '99 ---------- -------- ---------- ---------- RECOGNIZED DIRECTLY BY HOME PROPERTIES -------------------------------------- Recognized directly by Home Properties: Management fees 486 472 1,794 1,652 Development fees 352 135 850 736 Other 114 249 201 358 ------------ ------------ ----------- ---------- Sub-total 952 856 2,845 2,746 Management Companies (95% interest, see below) (279) (174) (1,792) 156 ------------ ------------ ------------ ---------- Total Other Income 673 682 1,053 2,902 =========== =========== ============ ========== Management Companies detail: --------------------------- Management fees 894 857 3,622 3,684 Development fees 828 1,738 3,991 5,567 Misc 28 16 94 94 General & Administrative (1,683) (2,190) (7,364) (7,449) Interest expense (512) (476) (1,937) (1,242) Depreciation (125) (99) (470) (358) Taxes 276 (29) 178 (132) ------------ ---------- ----------- -------- (294) (183) (1,886) 164 =========== ========== ========== ========= 95% to Home Properties (279) (174) (1,792) 156 ========== ========== ========== ========= Combined Management/Development Activity: --------------------------------------- Management fees 1,380 1,329 5,416 5,336 Development fees 1,180 1,873 4,841 6,303 COMBINED EBITDA 1,019 1,277 3,188 4,642 ========= ========== ========= ========
HOME PROPERTIES OF NEW YORK, INC. December 31, 2000 and 1999 Supplemental Information Summary of Recent Acquisitions Wgtd. Avg. Purchase # of Purchase Price Per Community Market State Date Units Price (mm) Unit Cypress Place Chicago IL 12/27/00 192 $10.10 $52,604 Orleans Village NoVA/DC VA 11/16/00 851 $67.40 $79,201 Figoni - 5 properties Long Island NY 11/1/00 429 $26.50 $61,772 Blackhawk Apartments Chicago IL 10/20/00 371 $17.50 $47,170 Bayberry Detroit MI 9/29/00 120 $5.70 $47,500 Hampton Court Detroit MI 9/29/00 182 $6.00 $32,967 Southbay Manor Long Island NY 9/11/00 61 $3.00 $49,180 East Meadow NoVA/DC VA 8/1/00 150 $13.00 $86,667 Elmwood Terrace Baltimore MD 6/30/00 504 $20.60 $40,873 Shostack - 2 properties Detroit MI 3/22/00 360 $14.40 $40,000 Gateside - 6 properties Philadelphia PA 3/15/00 2,113 $135.90 $64,316 Old Friends Baltimore MD 2/1/00 51 $2.00 $39,216 TOTAL YTD 5,384 $322.10 $59,825 Lakes, The Southfield MI 11/5/99 434 $26.00 $59,908 Colony, The Mt. Prospect IL 9/1/99 783 $41.80 $53,384 Ridley Philadelphia PA 7/28/99 825 $32.30 $39,152 Mid-Atlantic MD & DE MD/DE 7/15/99 3,297 $157.50 $47,771 Maple Lane South Bend IN 7/9/99 396 $17.40 $43,939 CRC Baltimore MD 7/1/99 3,722 $180.60 $48,522 Sherwood Gardens Levittown PA 5/27/99 103 $4.10 $39,806 Springwell Park Dearborn MI 4/8/99 303 $18.20 $60,066 Ridgeway Court Yeadon PA 2/26/99 66 $2.15 $32,576 Manor, The Levittown PA 2/19/99 198 $7.20 $36,364 TOTAL 10,127 $487.25 $48,114 TOTAL 1999 and 2000 15,511 $809.35 $52,179 Acquisitions
HOME PROPERTIES OF NEW YORK, INC. DECEMBER 31, 2000 AND 1999 SUPPLEMENTAL INFORMATION
BREAKDOWN OF OWNED UNITS BY MARKET NET NET ACQUIRED AS OF 12/31/99 ACQUIRED AS OF 12/31/00 MARKET ST IN 1999 12/31/99 % OF UNITS IN 2000 12/31/00 % OF UNITS ------------ ----- --------------- ------------ --------------- ----------- ----------- ------------- CONNECTICUT CT 0 498 1.47% 0 498 1.28% DELAWARE DE 432 432 1.28% 0 432 1.11% CHICAGO IL 783 1,455 4.30% 563 2,018 5.17% SOUTH BEND IN 396 706 2.09% 0 706 1.81% BALTIMORE MD 3,831 6,232 18.43% 555 6,787 17.38% PORTLAND ME 0 596 1.76% 0 596 1.53% DETROIT MI 737 5,031 14.88% 662 5,693 14.58% NORTHERN NJ -256 2,657 7.86% 0 2,657 6.81% BUFFALO NY 0 2,519 7.45% 0 2,519 6.45% SYRACUSE NY 0 1,564 4.63% 0 1,564 4.01% ROCHESTER NY 0 2,975 8.80% 0 2,975 7.62% LONG ISLAND NY 0 694 2.05% 490 1,184 3.03% HUD VALLEY NY 0 911 2.69% 0 911 2.33% NORTH/CENTRAL OH 0 242 0.72% 0 242 0.62% PITTSBURGH PA 0 298 0.88% -150 148 0.38% EASTERN PA 1,192 4,163 12.31% 2,113 6,276 16.08% DC/NO. VA DC 1,512 1,590 4.70% 1,001 2,591 6.64% CENTRAL VA 1,244 1,244 3.68% 0 1,244 3.19% --------- ---------- ---------- --------- --------- ---------- TOTAL 9,871 33,807 100.0% 5,234 39,041 100.0% TOTAL NY STATE 0 8,663 25.6% 490 9,153 23.4% TOTAL UPSTATE, NY 0 7,058 20.9% 0 7,058 18.1% TOTAL MID-ATLANTIC 7,955 16,616 49.1% 3,519 20,135 51.6%
HOME PROPERTIES OF NEW YORK, INC. DECEMBER 31, 2000 SUPPLEMENTAL INFORMATION DEBT SUMMARY SCHEDULE
FIXED MATURITY YEARS TO PROPERTY LENDER RATE BALANCE DATE MATURITY ---------------- -------------- ------ ------------ ------- --------- SPRINGWOOD AMEX/IDS 8.5000 1,404,305 11/01/01 0.84 VALLEY VIEW AMEX/IDS 8.5000 3,183,672 11/01/01 0.84 ROYAL GARDENS First Union Nat'l Bank 7.6600 11,085,842 08/01/02 1.58 THE COLONY John Hancock 7.6000 15,865,587 08/01/02 1.58 BAYBERRY AMEX/IDS 9.7500 2,516,214 10/01/02 1.75 VILLAGE GREEN John Hancock 7.7500 4,592,286 11/01/02 1.84 GARDEN VILLAGE John Hancock 7.7500 4,408,594 11/01/02 1.84 BROOK HILL John Hancock 7.7500 4,684,131 11/01/02 1.84 1600 ELMWOOD John Hancock 7.7500 5,143,360 11/01/02 1.84 TERRY North Fork Bank 7.7500 1,926,114 05/01/03 2.33 BROADLAWN Capri Capital 8.1700 11,799,141 08/01/03 2.58 ELMWOOD TERRACE John Hancock 8.2500 4,631,200 11/01/03 2.84 RACQUET CLUB Green Park Fin (Fannie) 7.6250 11,783,054 11/01/03 2.84 CURREN TERRACE GMAC 8.3550 9,291,357 11/01/03 2.84 ROLLING PARK Allfirst Mtg 7.8750 2,737,103 11/01/03 2.84 SHERRY LAKE GMAC 7.8750 6,264,308 01/01/04 3.00 GLEN MANOR AMEX/IDS 8.1250 3,586,087 05/01/04 3.33 COLONIES Capri Capital 8.8750 12,057,936 05/01/04 3.33 CASTLE CLUB Legg Mason RE 9.5500 3,702,375 03/01/05 4.17 WILLIAM HENRY Legg Mason RE 7.6400 14,180,332 10/01/05 4.75 IDLYWOOD Morgan Guaranty 8.6250 9,120,841 11/01/05 4.84 BAYVIEW/COLONIAL Midland Loan 8.3500 6,131,493 11/01/05 4.84 CARRIAGE HILL - MI Prudential - Fannie Mae 7.3600 3,761,464 01/01/06 5.01 CARRIAGE PARK Prudential - Fannie Mae 7.4800 5,420,643 01/01/06 5.01 CHERRY HILL Prudential - Fannie Mae 7.9900 4,424,968 01/01/06 5.01 MID-ISLAND North Fork Bank 7.5000 6,675,000 05/01/06 5.33 NEWCASTLE Presidential Funding 7.9000 6,000,000 07/31/06 5.58 COUNTRY VILLAGE PW Funding 8.3850 6,536,619 08/01/06 5.59 HAMPTON COURT ORIX RE Capital 8.8750 3,586,556 09/01/06 5.67 RAINTREE Capitalized Lease 8.5000 6,182,678 11/01/06 5.84 WOODGAGE PLACE ARCS Mortgage 7.8650 3,367,653 01/01/07 6.01 STRAWBERRY HILL PW Funding 8.2550 2,033,330 05/01/07 6.33 SEMINARY TOWERS - 1ST First Union Nat'l Bank 8.2200 2,603,261 07/01/07 6.50 SEMINARY TOWERS - 2nd First Union Nat'l Bank 8.4000 2,268,339 07/01/07 6.50 PAVILION - 2nd Capri Capital 7.4500 3,883,184 01/01/08 7.01 MAPLE LANE APTS - II AMI Capital 7.2050 5,894,223 01/01/08 7.01 VALLEY PARK S Capri Capital 6.9300 9,848,041 01/01/08 7.01 CYPRESS PLACE Reilly Mortgage 7.1300 6,589,341 01/01/08 7.01 HAMLET COURT HSBC Bank 7.1100 1,736,454 02/01/08 7.09 CANDLEWOOD, IND Morgan Guaranty 7.0200 7,642,804 02/01/08 7.09 DETROIT PORTFOLIO Morgan Guaranty 7.5100 47,710,320 06/01/08 7.42 CANTERBURY - 4 Allfirst Mtg 7.6700 2,154,110 06/01/08 7.42 SHERWOOD GARDENS Legg Mason RE 6.9800 3,028,721 07/01/08 7.50 GOLF CLUB ARCS Mortgage 6.5850 16,906,548 12/01/08 7.92 MANSION HOUSE 1st Niagara Bank 7.5000 680,338 01/01/09 8.01 RIDLEY PORTFOLIO Klorfine et. al. 8.000 15,750,000 07/28/09 8.58 OLD FRIENDS M and T Bank 6.7300 2,377,754 08/01/09 8.59 MULTI-PROPERTY M & T Bank - Freddie 7.5750 45,400,000 05/01/10 9.34 CONIFER VILLAGE Baldwin Devl'p Corp. 7.2000 2,445,000 06/01/10 9.42 SUGARTOWN MEWS Prudential - Fannie Mae 7.5000 28,892,000 10/01/10 9.76 TREXLER PARK Prudential - Fannie Mae 7.5000 10,140,000 10/01/10 9.76 RIDGEWAY GMAC 8.3750 1,103,705 11/01/10 9.84 MULTI-PROPERTY Prudential - Fannie Mae 7.2500 32,978,000 01/01/11 10.01 MULTI-PROPERTY Prudential - Fannie Mae 6.1600 58,881,000 01/01/11 10.01 ORLEANS VILLAGE Prudential - Fannie Mae 6.8150 43,745,000 01/01/11 10.01 TIMBERCROFT TH's 1-1ST GMAC 8.5000 898,552 05/01/11 10.34 TIMBERCROFT TH's 3-1ST GMAC 8.0000 1,209,046 02/01/12 11.09 VILLAGE SQUARE 3 DP Service 7.0000 999,951 11/01/12 11.94 MORNINGSIDE/ CARRIAGE HL Morgan Guaranty 6.9900 19,737,389 05/01/13 12.34 MULTI-PROPERTY Prudential - Fannie Mae 6.4750 100,000,000 08/31/13 12.67 DEERFIELD WOODS GE Financial 7.0000 3,412,548 01/01/14 13.01 SPRINGWELLS AMEX/IDS 8.0000 11,344,915 07/01/15 14.51 PINES OF PERINTON NYS Urban Development 8.5000 8,462,663 05/01/18 17.34 CANTERBURY I -2nd Allfirst Mtg 8.5000 1,299,519 06/01/18 17.43 CANTERBURY I I- 2nd Allfirst Mtg 8.5000 1,076,015 06/01/18 17.43 CANTERBURY I I I- 2nd Allfirst Mtg 8.5000 613,987 06/01/18 17.43 CANTERBURY I -1st GMAC 7.5000 3,658,956 06/01/18 17.43 PAVILION -1ST Capri Capital 8.0000 8,714,731 11/01/18 17.85 BONNIE RIDGE Prudential 6.6000 18,969,337 12/15/18 17.97 TIMBERCROFT TH's 3-2nd Allfirst Mtg 8.3750 3,402,089 06/01/19 18.43 TIMBERCROFT TH'S 1-2nd Allfirst Mtg 8.3750 2,309,787 06/01/19 18.43 CANTERBURY I I - 1st HUD 7.5000 3,638,010 09/01/19 18.68 VILLAGE GREEN, FW ARCS Mortgage 8.2300 4,261,039 10/10/19 18.76 RAINTREE Leasehold Mortgage 8.5000 1,139,166 04/30/20 19.34 CHESTNUT CROSSING Reilly Mortgage 9.3400 9,808,778 07/01/20 19.51 MACOMB MANOR EF&A Funding 8.6300 4,022,688 06/01/21 20.43 VILLAGE SQUARE 1&2 Continental Wingage 8.1250 6,488,420 08/01/21 20.60 DOUB MEADOW Dovenmuehle Mtg 7.5000 2,862,678 10/01/21 20.76 CANTERBURY III-1st Dovenmuehle Mtg 7.5000 2,539,079 11/01/21 20.85 SHAKESPEARE PARK Reilly Mortgage 7.5000 2,592,960 01/01/24 23.02 GATEWAY VILLAGE Capri Capital 8.0000 6,356,512 05/01/30 29.35 BLACKHAWK Capstone Realty 7.6500 10,693,556 10/01/31 30.77 OWINGS RUN 1 Reilly Mortgage 8.0000 17,579,811 10/01/35 34.77 OWINGS RUN 2 Prudential Huntoon 8.0000 14,653,115 06/01/36 35.44 ---------- WTD AVG - FIXED SECURED 7.41 823,487,571 10.77 ------------ % OF PORTFOLIO - FIXED 98.9%
VARIABLE SECURED -------------------------- MAPLE LANE - I - Civitas Bank 5.100 6,245,000 07/27/07 6.57 Eqv. Bond Yield Adjusts Weekly SPRINGCREEK Silver 9.5000 3,050,129 08/01/04 3.59 Adjust Monthly @ P+1/2 ------------ WTD AVG-VARIABLE SECURED 6.54 9,295,129 5.59 WTD AVG-TOTAL SECURED 7.40 832,782,700 10.72 DEBT
VARIABLE UNSECURED - LINE OF CREDIT ----------------------------
LINE OF CREDIT-Libor+125 M and T Bank et. al. 7.8100 0 09/01/02 1.67 Adjusts Daily WTD AVG-COMBINED DEBT 7.40 832,782,700 10.72 ============ WTG AVG - TOTAL SECURED DEBT 7.40 10.72 WTD AVG - TOTAL PORTFOLIO 7.40 10.72
FREE & CLEAR PROPERTIES ----------------------------
1600 East Avenue 164 Ivy Ridge 135 Beechwood Gardens 160 Lake Grove Apartments 368 Candlewood Gardens 126 Lakeshore Villas 152 Carriage Hill - NY 140 Manor Apartments 198 Cedar Glen 110 Maple Tree 84 Cloverleaf Village 148 Paradise Lane 324 Cornwall Park 75 Patricia Apts - NY 100 Coventry Village Apts 94 Pearl Street 60 East Hill Gardens 33 Ryder Terrace 24 East Meadow 150 Selford Townhomes 102 East Winds 96 Seminary Hill 296 Emerson Square 96 South Bay Manor 61 Fairway Apartments 32 Sunset Gardens 217 Falcon Crest Townhous 396 The Lakes 434 Hillcourt South 95 TOTAL FREE AND CLEAR PROPERTIES: 29 UNITS: 4,470
HOME PROPERTIES OF NEW YORK,INC. December 31, 2000 Supplemental Information
Net Asset Value Calculation --------------------------- Cap Rate (after 3% G&A, before 9.00% 9.25% 9.5% 9.75% 10.00% capital expenditures) --------- --------- --------- --------- --------- 4th QTR 2000 ------------ Rent 80,821 80,821 80,821 80,821 80,821 Property other income 3,309 3,309 3,309 3,309 3,309 Operating & maintenance expense (35,172) (35,172) (35,172) (35,172) (35,172) -------- -------- ---------- -------- --------- Property NOI 48,958 48,958 48,958 48,958 48,958 Adjustment for 4th QTR acq/dispositions 1,284 1,284 1,284 1,284 1,284 ------- -------- ---------- -------- -------- Effective 4th QTR "run rate" 50,242 50,242 50,242 50,242 50,242 Annualized(4th qtr=25.2% due to 199,373 199,373 199,373 199,373 199,373 seasonality) NOI growth for next 12 months 7,975 7,975 7,975 7,975 7,975 @ 4% G & A @ 3% of gross revenues (10,096) (10,096) (10,096) (10,096) (10,096) -------- --------- --------- --------- --------- Adjusted NOI 197,252 197,252 197,252 197,252 197,252 Real estate value using above cap rate 2,191,693 2,132,458 2,076,341 2,023,101 1,972,524 Property Management activities - (2000 EBITDA / .15 ) 16,407 16,407 16,407 16,407 16,407 Cash 10,449 10,449 10,449 10,449 10,449 Other assets 119,494 119,494 119,494 119,494 119,494 Less: Investment in Mgt Co (incl above) 1,516 1,516 1,516 1,516 1,516 [negative balance] Deferred charges (3,825) (3,825) (3,825) (3,825) (3,825) Goodwill (7,501) (7,501) (7,501) (7,501) (7,501) Gross Value 2,328,233 2,268,998 2,212,880 2,159,641 2,109,063 Less liabilities (882,083) (882,083) (882,083) (882,083 ) (882,083) Net Asset Value 1,446,150 $1,386,915 $1,330,797 $1,277,558 $1,226,980 PER SHARE/UNIT - FULLY DILUTED $ 32.47 $ 31.14 $ 29.88 $ 28.69 $ 27.55 44,532.6 shares ======= ======= ========= ========= ========== Economic CAP rate (after cap ex reserve of $375 per unit) 8.33% 8.56% 8.80% 9.03% 9.26%
ADJUSTMENT FOR ACQUISITIONS/DISPOSITIONS:
Initial Quarterly # of days Unleveraged Missing Property Price Date Return NOI In Quarter Adj ------ ----- ----------- ----------- ------------ ----------- Blackhawk 17,500 10/20/00 10.0% 438 19 90 Figoni Portfolio 26,500 11/1/00 9.2% 610 31 205 Orleans Village 67,400 11/16/00 9.0% 1,517 46 758 Cypress Place 10,100 12/27/00 9.4% 237 88 227 Misc from disposition 3 1,284 ======