##### 



Exhibit 99.1


CONGRESS CENTER PROPERTY


INDEX TO FINANCIAL STATEMENTS


|                                                        |  |       |   | 
|------------------------------------------------------- |  | ----- | - | 
|                                                        |  | Pages |  
|                                                        |  |       |  
|Report of Independent Registered Public Accounting Firm |  |       | 2 | 
|Balance Sheets                                          |  |       | 3 | 
|Statements of Operations                                |  |       | 4 | 
|Statements of Owners Equity                            |  |       | 5 | 
|Statements of Cash Flows                                |  |       | 6 | 
|Notes to Financial Statements                           |  |       | 7 | 

1



---



##### 



REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM














| |                           
| | --------------------------
| | /s/ Deloitte & Touche, LLP





2



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##### 



CONGRESS CENTER PROPERTY


BALANCE SHEETS


December 31, 2004 and 2003


|                                         |                         |              |             |             |      |   |             |             | 
|---------------------------------------- | ----------------------- | ------------ | ----------- | ----------- | ---- | - | ----------- | ----------- | 
|                                         |                         | December 31, |            
|                                         |                         |              |            
|                                         |                         | 2004         |             |             | 2003 |  
|                                         |                         |              |             |             |      |  
|ASSETS                                  
|Real estate investments:                 |                         |              |             |             |      |   |             |            
|                                         | Operating property, net |              | $           | 127,275,000 |      |   | $           | 128,613,000 | 
|Cash and cash equivalents                |                         |              | 2,137,000   |             |      |   | 888,000     |            
|Tenant receivables                       |                         |              | 186,000     |             |      |   | 629,000     |            
|Accounts receivable from related parties |                         |              | 4,000       |             |      |   | 6,000       |            
|Restricted cash                          |                         |              | 1,347,000   |             |      |   |            |            
|Identified intangible assets, net        |                         |              | 4,777,000   |             |      |   | 5,429,000   |            
|Other assets, net                        |                         |              | 4,922,000   |             |      |   | 4,081,000   |            
|                                         |                         |              |             |             |      |  
|Total assets                             |                         | $            | 140,648,000 |             |      | $ | 139,646,000 |            
|                                         |                         |              |             |             |      |  
|LIABILITIES, AND OWNERS EQUITY         
|Mortgages payable                        |                         | $            | 97,500,000  |             |      | $ | 96,989,000  |            
|Accounts payable and accrued liabilities |                         |              | 4,500,000   |             |      |   | 993,000     |            
|Security deposits and prepaid rent       |                         |              | 219,000     |             |      |   | 42,000      |            
|                                         |                         |              |             |             |      |  
|Total liabilities                        |                         |              | 102,219,000 |             |      |   | 98,024,000  |            
|Commitments and contingencies (Note 9)   |                         |              |             |             |      |   |             |            
|Total owners equity                     |                         |              | 38,429,000  |             |      |   | 41,622,000  |            
|                                         |                         |              |             |             |      |  
|Total liabilities and owners equity     |                         | $            | 140,648,000 |             |      | $ | 139,646,000 |            
|                                         |                         |              |             |             |      |  

3



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##### 



CONGRESS CENTER PROPERTY


STATEMENTS OF OPERATIONS


For the Year Ended December 31, 2004 and the Period from
January 9, 2003 (date of inception) to December 31,
2003


|                        |                                                                           |                               |            |                       |                       |  |            |            |            | 
|----------------------- | ------------------------------------------------------------------------- | ----------------------------- | ---------- | --------------------- | --------------------- |  | ---------- | ---------- | ---------- | 
|                        |                                                                           |                               |            | For the Period from   |                      
|                        |                                                                           |                               |            | January 9, 2003 (date |                      
|                        |                                                                           | Year Ended                    |            |                       | of inception) through | 
|                        |                                                                           | December 31,                  |            |                       | December 31,          | 
|                        |                                                                           | 2004                          |            |                       | 2003                  | 
|                        |                                                                           |                               |            |                       |                       | 
|Revenues:               |                                                                           |                               |            |                       |                       |  |            |           
|                        |                                                                           | Rental income                 |            | $                     | 17,304,000            |  |            | $          | 14,261,000 | 
|                        |                                                                           |                               |            |                       |                       | 
|Expenses:               |                                                                           |                               |            |                       |                       |  |            |           
|                        |                                                                           | Rental                        |            |                       | 8,995,000             |  |            |            | 5,424,000  | 
|                        |                                                                           | General and administrative    |            |                       | 69,000                |  |            |            | 165,000    | 
|                        |                                                                           | Depreciation and amortization |            |                       | 4,474,000             |  |            |            | 4,427,000  | 
|                        |                                                                           |                               |            |                       |                       | 
|                        |                                                                           |                               | 13,538,000 |                       |                       |  | 10,016,000 |           
|                        |                                                                           |                               |            |                       |                       | 
|Operating income        |                                                                           |                               | 3,766,000  |                       |                       |  | 4,245,000  |           
|Other income (expense): |                                                                           |                               |            |                       |                       |  |            |           
|                        | Interest expense (including amortization of deferred financing
    costs) |                               |            | (6,022,000            | )                     |  |            | (3,560,000 | )         
|                        |                                                                           |                               |            |                       |                       | 
|                        | Income (loss) before income taxes                                         |                               |            | (2,256,000            | )                     |  |            | 685,000    |           
|                        | Income taxes                                                              |                               |            | 10,000                |                       |  |            |           |           
|                        |                                                                           |                               |            |                       |                       | 
|                        | Net income (loss)                                                         |                               | $          | (2,266,000            | )                     |  | $          | 685,000    |           
|                        |                                                                           |                               |            |                       |                       | 

4



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##### 



CONGRESS CENTER PROPERTY


STATEMENTS OF OWNERS EQUITY


For the Year Ended December 31, 2004 and the Period from
January 9, 2003 (date of inception) through
December 31, 2003


|                                                  |  |       |            |  
|------------------------------------------------- |  | ----- | ---------- | -
|                                                  |  | Total |           
|                                                  |  |       |           
|BALANCE  January 9, 2003 (date of
    inception) |  |       |           |  
|Capital contributions, net of offering costs      |  | $     | 42,754,000 |  
|Distributions                                     |  |       | (1,817,000 | )
|Net income                                        |  |       | 685,000    |  
|                                                  |  |       |           
|BALANCE  December 31, 2003                       |  |       | 41,622,000 |  
|Capital contributions, net of offering costs      |  |       | 4,290,000  |  
|Distributions                                     |  |       | (5,217,000 | )
|Net loss                                          |  |       | (2,266,000 | )
|                                                  |  |       |           
|BALANCE  December 31, 2004                       |  | $     | 38,429,000 |  
|                                                  |  |       |           

5



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##### 



CONGRESS CENTER PROPERTY


STATEMENTS OF CASH FLOWS


For the Year Ended December 31, 2004 and the Period from
January 9, 2003 (date of inception) through
December 31, 2003


|                                                                                                                             |                                                |                                                     |             |                     |                     |   |              |             |              |  
|---------------------------------------------------------------------------------------------------------------------------- | ---------------------------------------------- | --------------------------------------------------- | ----------- | ------------------- | ------------------- | - | ------------ | ----------- | ------------ | -
|                                                                                                                             |                                                |                                                     |             | For the Period from |                    
|                                                                                                                             |                                                |                                                     |             | January 9, 2003     |                    
|                                                                                                                             |                                                | Year Ended                                          |             |                     | (date of inception) |  
|                                                                                                                             |                                                | December 31,                                        |             |                     | through             |  
|                                                                                                                             |                                                | 2004                                                |             |                     | December 31, 2003   |  
|                                                                                                                             |                                                |                                                     |             |                     |                     |  
|CASH FLOWS FROM OPERATING ACTIVITIES                                                                                         |                                                |                                                     |             |                     |                     |   |              |            
|Net income(loss)                                                                                                             |                                                | $                                                   | (2,266,000  | )                   |                     | $ | 685,000      |            
|Adjustments to reconcile net income (loss) to net cash provided
    by operating activities                                  |                                                |                                                     |             |                     |                     |   |              |            
|Depreciation and amortization including amortization of deferred
    financing costs and amortization of below market leases |                                                |                                                     | 4,640,000   |                     |                     |   | 2,050,000    |            
|Swap collar interest                                                                                                         |                                                |                                                     | (455,000    | )                   |                     |   | 455,000      |            
|Change in operating assets and liabilities:                                                                                  |                                                |                                                     |             |                     |                     |   |              |            
|                                                                                                                             | Accounts receivable                            |                                                     |             | 443,000             |                     |   |              | (629,000    | )           
|                                                                                                                             | Accounts receivable from related parties       |                                                     |             | 2,000               |                     |   |              | (6,000      | )           
|                                                                                                                             | Other assets                                   |                                                     |             | 34,000              |                     |   |              | (376,000    | )           
|                                                                                                                             | Accounts payable and accrued liabilities       |                                                     |             | 3,962,000           |                     |   |              | 538,000     |             
|                                                                                                                             | Security deposits and prepaid rent             |                                                     |             | 177,000             |                     |   |              | 42,000      |             
|                                                                                                                             |                                                |                                                     |             |                     |                     |  
|                                                                                                                             |                                                | Net cash provided by operating activities           |             |                     | 6,537,000           |   |              |             | 2,759,000    |  
|                                                                                                                             |                                                |                                                     |             |                     |                     |  
|CASH FLOWS FROM INVESTING ACTIVITIES                                                                                         |                                                |                                                     |             |                     |                     |   |              |            
|Acquisition of properties                                                                                                    |                                                |                                                     |            |                     |                     |   | (137,620,000 | )          
|Restricted cash                                                                                                              |                                                |                                                     | (1,347,000  | )                   |                     |   |             |            
|Capital expenditures                                                                                                         |                                                |                                                     | (2,945,000  | )                   |                     |   | (879,000     | )          
|                                                                                                                             |                                                |                                                     |             |                     |                     |  
|                                                                                                                             |                                                | Net cash used in investing activities               |             |                     | (4,292,000          | ) |              |             | (138,499,000 | )
|                                                                                                                             |                                                |                                                     |             |                     |                     |  
|CASH FLOWS FROM FINANCING ACTIVITIES                                                                                         |                                                |                                                     |             |                     |                     |   |              |            
|Contributions from owners                                                                                                   |                                                |                                                     | 4,290,000   |                     |                     |   | 42,754,000   |            
|Borrowings under notes payable                                                                                               |                                                |                                                     | 97,500,000  |                     |                     |   | 96,989,000   |            
|Principal payments on notes payable                                                                                          |                                                |                                                     | (96,989,000 | )                   |                     |   |             |            
|Payment of loan fees                                                                                                         |                                                |                                                     | (580,000    | )                   |                     |   | (1,298,000   | )          
|Distributions                                                                                                                |                                                |                                                     | (5,217,000  | )                   |                     |   | (1,817,000   | )          
|                                                                                                                             |                                                |                                                     |             |                     |                     |  
|                                                                                                                             |                                                | Net cash (used in) provided by financing activities |             |                     | (996,000            | ) |              |             | 136,628,000  |  
|                                                                                                                             |                                                |                                                     |             |                     |                     |  
|NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS                                                                         |                                                |                                                     | 1,249,000   |                     |                     |   | 888,000      |            
|CASH AND CASH EQUIVALENTS  beginning of period                                                                              |                                                |                                                     | 888,000     |                     |                     |   |             |            
|                                                                                                                             |                                                |                                                     |             |                     |                     |  
|CASH AND CASH EQUIVALENTS  end of period                                                                                    |                                                | $                                                   | 2,137,000   |                     |                     | $ | 888,000      |            
|                                                                                                                             |                                                |                                                     |             |                     |                     |  
|SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:                                                                            |                                                |                                                     |             |                     |                     |   |              |            
|Cash paid during the year for:                                                                                               |                                                |                                                     |             |                     |                     |   |              |            
|                                                                                                                             | Interest                                       |                                                     | $           | 5,088,000           |                     |   | $            | 3,560,000   |             
|                                                                                                                             | Income taxes                                   |                                                     | $           | 10,000              |                     |   |              |            |             
|                                                                                                                             | NON CASH INVESTING ACTIVITIES:                 |                                                     |             |                     |                     |   |              |             |             
|                                                                                                                             | Increase of intangible assets of acquisitions  |                                                     |             |                    |                     |   | $            | 6,080,000   |             
|                                                                                                                             | Increase of investment in operating properties |                                                     |             |                    |                     |   | $            | 131,540,000 |             

6



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##### 



CONGRESS CENTER PROPERTY


NOTES TO FINANCIAL STATEMENTS


For the Year Ended December 31, 2004 and the Period from
January 9, 2003


(date of inception) through December 31, 2003




|   |                                         
|-- | ----------------------------------------
|1. | Organization and Description of Business





|                                      |  |               |      |  
|------------------------------------- |  | ------------- | ---- | -
|Tenants in Common                     |  | Interest Held |     
|                                      |  |               |     
|G REIT Inc.                           |  |               | 30.0 | %
|NNN Congress Center, LLC              |  |               | 28.9 | %
|Unaffiliated third parties (combined) |  |               | 41.1 | %



|                                |  |                          |      |             |                 |  |      |  
|------------------------------- |  | ------------------------ | ---- | ----------- | --------------- |  | ---- | -
|                                |  |                          |      | Interest in |                
|                                |  | Membership Interest in   |      |             | Congress Center | 
|Members                         |  | NNN Congress Center, LLC |      |             | Property        | 
|                                |  |                          |      |             |                 | 
|NNN 2002 Value Fund, LLC        |  |                          | 42.5 | %           |                 |  | 12.3 | %
|T REIT, Inc.                    |  |                          | 35.5 | %           |                 |  | 10.3 | %
|Unaffiliated members (combined) |  |                          | 22.0 | %           |                 |  | 6.3  | %







|   |                                           
|-- | ------------------------------------------
|2. | Summary of Significant Accounting Policies





| |                        
| | -----------------------
| | Real Estate Investments



| |                   
| | ------------------
| | Operating Property



7



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##### 



CONGRESS CENTER PROPERTY


NOTES TO FINANCIAL STATEMENTS  (Continued)








| |                          
| | -------------------------
| | Cash and Cash Equivalents





| |                
| | ---------------
| | Restricted Cash





| |                          
| | -------------------------
| | Purchase Price Allocation

Business Combinations,






8



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##### 



CONGRESS CENTER PROPERTY


NOTES TO FINANCIAL STATEMENTS  (Continued)






| |                                     
| | ------------------------------------
| | Allowance for Uncollectible Accounts





| |                             
| | ----------------------------
| | Concentration of Credit Risk







|                                             |  |              |           |               |             |  |      |                |  |       |                 |  |  |  |            | 
|-------------------------------------------- |  | ------------ | --------- | ------------- | ----------- |  | ---- | -------------- |  | ----- | --------------- |  |  |  | ---------- | 
|                                             |  |              |           | Percentage of |             |  |      |                | 
|                                             |  | 2004 Annual  |           |               | 2004 Annual |  |      |                |  | Lease |                
|Tenant                                       |  | Base Rent(*) |           |               | Base Rent   |  |      | Square Footage |  |       | Expiration Date | 
|                                             |  |              |           |               |             |  |      |                |  |       |                 | 
|GSA/ Social Security                         |  | $            | 3,214,000 |               |             |  | 25.8 | %              |  |       | 76,000          |  |  |  | 04/25/2012 | 
|North American Co. Life and Health Insurance |  |              | 2,220,000 |               |             |  | 17.8 |                |  |       | 101,000         |  |  |  | 02/28/2012 | 
|Akzo Nobel, Inc.                             |  |              | 1,893,000 |               |             |  | 15.2 |                |  |       | 90,000          |  |  |  | 12/31/2013 | 
|GSA/ ATF                                     |  |              | 1,519,000 |               |             |  | 12.2 |                |  |       | 37,000          |  |  |  | 02/28/2013 | 
|GE Insurance Solutions                       |  |              | 1,414,000 |               |             |  | 11.3 |                |  |       | 67,000          |  |  |  | 12/31/2012 | 



|                                             |  |              |           |               |             |  |      |                |  |       |                 |  |  |  |            | 
|-------------------------------------------- |  | ------------ | --------- | ------------- | ----------- |  | ---- | -------------- |  | ----- | --------------- |  |  |  | ---------- | 
|                                             |  |              |           | Percentage of |             |  |      |                | 
|                                             |  | 2003 Annual  |           |               | 2003 Annual |  |      |                |  | Lease |                
|Tenant                                       |  | Base Rent(*) |           |               | Base Rent   |  |      | Square Footage |  |       | Expiration Date | 
|                                             |  |              |           |               |             |  |      |                |  |       |                 | 
|GSA/ Social Security                         |  | $            | 3,149,000 |               |             |  | 25.3 | %              |  |       | 76,000          |  |  |  | 04/25/2012 | 
|North American Co. Life and Health Insurance |  |              | 1,834,000 |               |             |  | 14.7 |                |  |       | 101,000         |  |  |  | 02/28/2012 | 
|GSA/ ATF                                     |  |              | 1,487,000 |               |             |  | 11.9 |                |  |       | 37,000          |  |  |  | 04/15/2013 | 
|GE Insurance Solutions                       |  |              | 1,347,000 |               |             |  | 10.8 |                |  |       | 67,000          |  |  |  | 12/31/2012 | 






|    |                                                                                                                                           
|--- | ------------------------------------------------------------------------------------------------------------------------------------------
|(*) | Annualized rental income based on contractual base rent set
    forth in leases in effect at December 31, 2004 and 2003,
    respectively.

9



---



##### 



CONGRESS CENTER PROPERTY


NOTES TO FINANCIAL STATEMENTS  (Continued)




| |                                    
| | -----------------------------------
| | Fair Value of Financial Instruments

Disclosures About Fair Value of Financial Instruments,






| |                                 
| | --------------------------------
| | Derivative financial instruments



Derivative Instruments and Hedging
Activities.




| |                    
| | -------------------
| | Revenue Recognition



10



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##### 



CONGRESS CENTER PROPERTY


NOTES TO FINANCIAL STATEMENTS  (Continued)




| |                                              
| | ---------------------------------------------
| | Identified Intangible Assets and Other Assets





| |             
| | ------------
| | Income Taxes





| |                 
| | ----------------
| | Use of Estimates





| |                                          
| | -----------------------------------------
| | Recently Issued Accounting Pronouncements

Consolidation of
Variable Interest Entities, Consolidated Financial Statements




|   |                        
|-- | -----------------------
|3. | Real Estate Investments



|                                  |  |              |             |  |      |   |             | 
|--------------------------------- |  | ------------ | ----------- |  | ---- | - | ----------- | 
|                                  |  | December 31, |            
|                                  |  |              |            
|                                  |  | 2004         |             |  | 2003 |  
|                                  |  |              |             |  |      |  
|Buildings and tenant improvements |  | $            | 127,674,000 |  |      | $ | 124,729,000 | 
|Land                              |  |              | 7,690,000   |  |      |   | 7,690,000   | 
|                                  |  |              |             |  |      |  
|                                  |  |              | 135,364,000 |  |      |   | 132,419,000 | 
|Less: accumulated depreciation    |  |              | 8,089,000   |  |      |   | 3,806,000   | 
|                                  |  |              |             |  |      |  
|                                  |  | $            | 127,275,000 |  |      | $ | 128,613,000 | 
|                                  |  |              |             |  |      |  



11



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##### 



CONGRESS CENTER PROPERTY


NOTES TO FINANCIAL STATEMENTS  (Continued)




|   |                             
|-- | ----------------------------
|4. | Identified Intangible Assets



|                                                                                                                                                                                                                                                                                        |  |              |           |  |      |   |           | 
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | ------------ | --------- |  | ---- | - | --------- | 
|                                                                                                                                                                                                                                                                                        |  | December 31, |          
|                                                                                                                                                                                                                                                                                        |  |              |          
|                                                                                                                                                                                                                                                                                        |  | 2004         |           |  | 2003 |  
|                                                                                                                                                                                                                                                                                        |  |              |           |  |      |  
|Acquired in-place leases and above market leases, net of
    accumulated amortization of $1,303,000 and $652,000 at
    December 31, 2004 and 2003, respectively (with a weighted
    average life of 62 and 117 months for in place leases and
    tenant relationships, respectively) |  | $            | 4,777,000 |  |      | $ | 5,429,000 | 
|                                                                                                                                                                                                                                                                                        |  |              |           |  |      |  





|     |  |        |         | 
|---- |  | ------ | ------- | 
|Year |  | Amount |        
|     |  |        |        
|2005 |  | $      | 652,000 | 
|2006 |  | $      | 652,000 | 
|2007 |  | $      | 652,000 | 
|2008 |  | $      | 652,000 | 
|2009 |  | $      | 650,000 | 



|   |             
|-- | ------------
|5. | Other Assets



|                                                                                                                                        |                    |      |           |           |      |   |           |           | 
|--------------------------------------------------------------------------------------------------------------------------------------- | ------------------ | ---- | --------- | --------- | ---- | - | --------- | --------- | 
|                                                                                                                                        |                    | 2004 |           |           | 2003 |  
|                                                                                                                                        |                    |      |           |           |      |  
|Deferred rent receivable                                                                                                                |                    | $    | 4,032,000 |           |      | $ | 2,851,000 |          
|Lease commissions, net of accumulated amortization of $50,000
    and $14,000 at December 31, 2004 and 2003, respectively               |                    |      | 328,000   |           |      |   | 361,000   |          
|Deferred financing costs, net of accumulated amortization of
    $1,316,000 and 429,000 at December 31, 2004 and 2003,
    respectively |                    |      | 562,000   |           |      |   | 869,000   |          
|                                                                                                                                        |                    |      |           |           |      |  
|                                                                                                                                        | Total other assets |      | $         | 4,922,000 |      |   | $         | 4,081,000 | 
|                                                                                                                                        |                    |      |           |           |      |  

12



---



##### 



CONGRESS CENTER PROPERTY


NOTES TO FINANCIAL STATEMENTS  (Continued)




|   |              
|-- | -------------
|6. | Notes Payable



|                                                                                                                                                                                                                                                                                          |  |              |            |  |      |   |            | 
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | ------------ | ---------- |  | ---- | - | ---------- | 
|                                                                                                                                                                                                                                                                                          |  | December 31, |           
|                                                                                                                                                                                                                                                                                          |  |              |           
|                                                                                                                                                                                                                                                                                          |  | 2004         |            |  | 2003 |  
|                                                                                                                                                                                                                                                                                          |  |              |            |  |      |  
|Note payable to a mortgage company, secured by a deed of trust,
    interest at a fixed interest rate of 5.635% per annum.
    Interest only payments are payable monthly, with the principal
    due on October 1, 2014                                                                  |  | $            | 80,000,000 |  |      | $ |           | 
|Note payable to a mortgage company, secured by a second deed of
    trust, interest at a fixed interest rate of 5.635% per
    annum. Interest only payments are payable monthly, with the
    principal due on October 1, 2014                                                           |  |              | 15,000,000 |  |      |   |           | 
|Note payable to a mortgage company, secured by a third deed of
    trust, interest at a fixed interest rate of 7.0% per annum.
    Interest only payments are payable monthly until October 1,
    2006 at which time principal and interest is due monthly on a
    30-year amortization |  |              | 2,500,000  |  |      |   |           | 
|Note payable to a mortgage company, secured by a deed of trust,
    interest at the 30-day LIBOR rate plus 175 basis points.
    Interest only payments are payable monthly, the note was repaid
    in 2004                                                                              |  |              |           |  |      |   | 81,989,000 | 
|Mezzanine note payable to a mortgage company, interest at the
    30-day LIBOR plus 675 basis points. Interest only payments
    are payable monthly, the note was repaid in 2004                                                                                                         |  |              |           |  |      |   | 15,000,000 | 
|                                                                                                                                                                                                                                                                                          |  |              |            |  |      |  
|                                                                                                                                                                                                                                                                                          |  | $            | 97,500,000 |  |      | $ | 96,989,000 | 
|                                                                                                                                                                                                                                                                                          |  |              |            |  |      |  





|           |  |        |            | 
|---------- |  | ------ | ---------- | 
|Year       |  | Amount |           
|           |  |        |           
|2005       |  |        |           | 
|2006       |  | $      | 6,000      | 
|2007       |  | $      | 23,000     | 
|2008       |  | $      | 25,000     | 
|2009       |  | $      | 27,000     | 
|Thereafter |  | $      | 97,419,000 | 

13



---



##### 



CONGRESS CENTER PROPERTY


NOTES TO FINANCIAL STATEMENTS  (Continued)






|   |                    
|-- | -------------------
|7. | Future Minimum Rent



| |              
| | -------------
| | Rental Income



|            |       |        |            |            | 
|----------- | ----- | ------ | ---------- | ---------- | 
|Year Ending |       | Amount |           
|            |       |        |           
|2005        |       | $      | 12,459,000 |           
|2006        |       |        | 12,459,000 |           
|2007        |       |        | 12,459,000 |           
|2008        |       |        | 12,459,000 |           
|2009        |       |        | 12,459,000 |           
|Thereafter  |       |        | 37,324,000 |           
|            |       |        |           
|            | Total |        | $          | 99,619,000 | 
|            |       |        |           





|   |                           
|-- | --------------------------
|8. | Related Party Transactions



| |                         
| | ------------------------
| | Property management fees





| |                        
| | -----------------------
| | Real estate commissions





| |                                         
| | ----------------------------------------
| | Accounts receivable from related parties



14



---



##### 



CONGRESS CENTER PROPERTY


NOTES TO FINANCIAL STATEMENTS  (Continued)




| |                            
| | ---------------------------
| | Debt due to related parties





|   |                              
|-- | -----------------------------
|9. | Commitments and Contingencies



| |                  
| | -----------------
| | SEC Investigation

In the matter of Triple Net Properties, LLC.




| |           
| | ----------
| | Litigation





| |                      
| | ---------------------
| | Environmental Matters





| |      
| | -----
| | Other





|    |                 
|--- | ----------------
|10. | Subsequent Event



15