Almanara Investments Inc.

Merritt Terrace Apartments

100% Ownership Interest

421 East 18th Street
Oakland, CA 94606

Property Description:
Merritt Terrance Apartments has 54 Studio apartments, 27 one bedroom/one bath units and 2 commercial units. The building was originally built in 1972 and has been improved with new entry tile, new carpet throughout (hallways and units) and a new boiler system.

Russell Street Apartments

100% Ownership Interest

1525 & 1527 Russell Street
Berkeley, CA 94703

Property Description:
Russell Street Apartments has 32 one bedroom/one bath units. The building was originally built in 1968. All of the units were completely remodeled before the acquisition including all new windows throughout, new water heater and parking lot sealing and repainting.

Casa Sobrante Townhomes

100% Ownership Interest

4612 & 4630 San Pablo Dam Road
El Sobrante, CA 94803

Property Description:
Casa Sobrante Townhomes has 24 two bedrooms/one and a half bath units. All units are between 950 to 1,050 square feet. The building was originally built in 1971 and has been improved with new outdoor lighting, new windows throughout, new landscaping, 19 completely remodeled units and three new commercial hot water heaters.

Ebbetts Pass Apartment Building

100% Ownership Interest

400 Ebbetts Pass Road
Vallejo, CA 94589

Property Description:
Ebbetts Pass Apartment Building has 4 two bedrooms/one bath units, 4 two bedrooms/one and a half bath units and 12 one bedroom/one bath units. All units are between 700 to 1,050 square feet. The building was originally built in 1971 and has been improved with new exterior paint, new windows throughout, new landscaping and 13 completely remodeled units.

Coco Palms Apartments

100% Ownership Interest

307 East Tabor
Fairfield, CA 94533

Property Description:
Coco Palms Apartments has 18 two bedrooms/one bath units 42 one bedroom/one bath units. All units are between 650 to 850 square feet. The building was originally built in 1960 and has been improved with new exterior paint, new Milgard double pane windows, new sign monument, new landscaping, renovated pool area and upgraded lobby and reception area.

The Orient Apartments

100% Ownership Interest

319 East Tabor
Fairfield, CA 94533

Property Description:
The Orient Apartments has 21 two bedrooms/one bath units 44 one bedroom/one bath units. All units are between 650 to 850 square feet. The building was originally built in 1960 and has been improved with new exterior paint, new Milgard double pane windows, new sign monument, new landscaping, renovated pool area and upgraded lobby and reception area.

Blanco Pointe

100% Ownership Interest

Blanco Road and Huebner Road
San Antonio, TX

Property Description:
This 25,236 sq. ft. four building property sits on the southeast corner of Blanco Road and Huebner Road in the prestigious Stone Oak Community. Average Household income within 3 miles is approximately $121,483.00. This beautiful center is occupied by tenants such as Double Dave's Pizza Works, Dulce Vida Cantina, Melody Nails, Girlfriends Clothier, The Pointe Martini Bar, Dr. Shabaz Yazdani, Pure Posh Day Spa and Salon and Massage Envy.

Grogan’s Forest

100% Ownership Interest

West of Sawdust off I-45
Houston, TX

Property Description:
Grogan's Forest Shopping Center is an updated attractive 7,098 sq. ft. neighborhood retail center located on Grogan's Forest Drive just west of Sawdust off I-45. The center is in an established and mature neighborhood, with huge residential growth around it. Grogan's Forest Shopping Center enjoys a high traffic count with excellent exposure. This shopping center houses Castle Dental, Quiznos, Great Clips and Pine Oak Dry Cleaners.

Ashford Center

100% Ownership Interest

West Houston
At the corner of Dairy Ashford & Briar Forest
Houston, TX

Property Description:
Ashford Center, built in 1984, is a small yet attractive 9,600 sq. ft. neighborhood retail center located adjacent to the Kroger Shopping Center at the corner of Dairy Ashford Drive and Briar Forest in West Houston. The center has excellent exposure on Dairy Ashford, a major north-south artery between Interstate 10 on the north and Westheimer on the south. Tenants include Curves for Women, Papa John’s, Great Clips, Nails by Van and $1.35 Cleaners. This Center is owned by a third-party company in California.

The Plazas at Westway Park

100% Ownership Interest

Intersection of Clay Road & Westway Park Drive
Houston, TX

Property Description:
The Plazas at Westway Park, opened in March 2005, is a 12,600 sq. ft. retail center at the intersection of Clay Rd. and Westway Park Drive, immediately east of Beltway 8, in West Houston. Located in Westway Park, a 150-acre master-planned development by the Wolff Companies, the center benefits from the extensive commercial development in the area, as well as from The Broadstone Westway Park, a 336-unit multi-family project and a LaQuinta Inn & Suites. The current traffic count at this location is over 32,000 cars per day. Tenants include Subway, Deluxe Cleaners, Luxury Nails, Simply Splendid Donuts and Red Balloon Cafe.

The Westland Center

100% Ownership Interest

South side of Grand Parkway
Between Highland Knolls and Kingsland
Houston, TX

Property Description:
The Westland Center is a 37,286 sq. ft. center located off the south side of Grand Parkway between Highland Knolls and Kingsland. This project lies right outside the Cinco Ranch Community, a 7,000 acre residential community in West Houston, where home prices range from the $200’s to over $1,000,000. This location has a traffic count of 35,000+ cars per day. Within three miles of the site, there are 17,000+ households with an average annual household income in excess of $120,000. Tenants include Ruthie’s Mexicana, Ron Bell State Farm, Westside Chiropractic, Capital Title, 9’ers Grill, Tender Touch Hair Care, Happy Tails Pet Grooming, Floor TX, Jackson Hewitt, Avis Nail, Donald’s Donuts, Holiday Cleaners and Orient Cafe. This Center is owned by a third-party company out of California