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I I I I I I I I I I II I :1 I I I I I I I I I OAKLAND MEADOWS Shel/Met Properties contrlbuted $213,587 in cash to purchase Oakland Meadows, a 70-unit multi-family rental property in Colubmia, Maryland, in December 1977. C.R.M.l. managed this pro~erty until its sale in 1983 to an outside partnershlp for a total of $1,466,725 in deot and cash. ~he annual return on cash investment in this property averaged 20\. HANNIBAL GROVE Shel/Met Properties acquired the 316-unit Hannibal Grove sarclen apartment complex in ColUMbia, MarYland, at a total prlce of $5,343,980. The proper~y was sold to an outSIde partnership in 1983 for a total of $6,621,215. The cash lnvested to purchase this property yielded a cornpouraded annual return ~f 20\. C.R.M.l. managed the property w~ile it was owned by She1/Met Propert1es~ TILBURY WOODS For a cash inv~stment of $884,859, Shel/Met Properties also acquired the T1lbury Woods apartment property 10 Columbia, Maryland, in December 1977. C.R.M.l. managed the 290 garden apartment units for the owners uncil the property was sold i~ 1983 to an outside partners~lp for $2,208,257 in cash and $3,868,174 in assuJ1ed debt. The cash received at the tiMe of sale resulted 1n a return of 20% to Shel/Met on a co~pounded annual basis. LAKEBRlDGE WEST In December 1978, Shelter acquired Lakebr1dge west, a 159-unit apartnent property SlLuated in Minneapolis, MInnesota, for a total pricp. of $2,625,00C, of whIch $250,000 was paid in cash. The property, ~anag(d by Canadian FinanCial HOUSing Corporation, was sold to an unrelated third party for $3,294,000 two years later through assumption of the exist1ng Mortgage, a $450,000 note taken back by Shelter a~d the balance in cash. The average co~pounded annual ~eturn on cash lnvested totalled 45%. HERiTAGE GROVE Shelter acquired HerItage Grove in June 1978 for a cash contr1bution of $787,000 and the assumption of $1,690,000 In debt. Tho 132-unit apartment property, located !n EChelon, New Jersey, was managed by C.R.M.l., whIch converted the units to condominiums for sale. Sales began in 1982 and net cash proceeds are estImated to total $980,000 - by the end of 1983, for an average annual return of 4.5%.