EXHIBIT 31.2



PRINCIPAL
FINANCIAL OFFICER CERTIFICATION

PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002



I, Douglas P. Williams, certify that:



| | 1. | I have reviewed this special financial report on Form 10-K of Institutional REIT, Inc.;
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| | 2. | Based on my knowledge, this special financial report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made,
in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this special financial report;
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| | 3. | Based on my knowledge, the financial statements, and other financial information included in this special financial report, fairly present in all material respects the financial
condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this special financial report;
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| | 4. | The registrants other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules
13(a)-15(e) and 15(d)-15(e)) for the registrant and have:
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| | a. | designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information
relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this special financial report is being prepared;
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| | b. | evaluated the effectiveness of the registrants disclosure controls and procedures and presented in this special financial report our conclusions about the effectiveness of the
disclosure controls and procedures as of the end of the period covered by this special financial report based on such evaluation; and
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| | c. | disclosed in this special financial report any change in the registrants internal control over financial reporting that occurred during the registrants most recent
fiscal quarter (the registrants fourth fiscal quarter in the case of this special financial report) that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting;
and
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| | 5. | The registrants other certifying officers and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrants
auditors and the audit committee of the registrants board of directors:
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| | a. | all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting that are reasonably likely to adversely affect the
registrants ability to record, process, summarize and report financial information; and
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| | b. | any fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal control over financial reporting.
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Dated: March 26, 2007



By:

/s/ DOUGLAS P. WILLIAMSDouglas P. WilliamsPrincipal Financial Officer