Frankfurt City development

Development: comprises 25 apartments, 1, 2 and 3 bedroom.

Location: a prime location in Rebstockpark, a central park area that is
currently undergoing a major rejuvenation with huge public and private 
investment. Facing the park, with its large green area and public outdoor / indoor
swimming facilities, the building is ideally located, being minutes from the 
Autobahn, the commercial district and the centre of Frankfurt city.

Price range: 1-bedroom from EU 151,200; 2-bedroom from EU 202,500; 
3-bedroom from EU 245,900.

Features: Prices include basement garage space, basement storage
room, all apartments have a balcony or terrace.

Prospects:  excellent rental and capital appreciation prospects, 
given its attractive location in a park while easily accessible to the city, the trade 
fair grounds, shopping and business districts and the motorway network. 
Apartments now rented in the first phase yield between 4.6% and 5.5% net.

Completion: End December 2008

Management: responsibility for all general and rental management for 
investors will be contractually regulated through a local company.