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                                                                   EXHIBIT 10.10

Dorsey's Forge

                                                            RESIDENTIAL PROPERTY

                          PROPERTY MANAGEMENT AGREEMENT

     This Agreement is made as of the 27th day of April, 2000 between the
undersigned DOH, INC., a Maryland Corporation, (the "Owner") and the undersigned
BRI OP LIMITED PARTNERSHIP, (the "Agent").

     1.  APPOINTMENT AND ACCEPTANCE. The Owner appoints the Agent as exclusive
agent for the management of the property described in Section 2 of this
Agreement, and the Agent accepts the appointment, subject to the terms and
conditions set forth in this Agreement.

     2.  DESCRIPTION OF THE PROJECT. The property to be managed by the Agent
under this Agreement (the "Project") is a housing development consisting of the
land, buildings, and other improvements located in Columbia, MD and known as
DORSEY'S FORGE APARTMENTS, containing 180 dwelling units.

     3.  BASIC INFORMATION. The Agent will thoroughly familiarize itself with
the character, location, construction, layout, plan and operation of the
Project, and especially the electrical, plumbing, air-conditioning and
ventilating systems, the elevators and all other mechanical equipment.

     4.  MARKETING. The Agent will carry out the marketing activities designed
to attract tenants as described below.

     5.  RENTALS. The Agent will offer for rent and will rent the dwelling
units and commercial space, if any, in the Project.  Incident thereto, the
following provisions will apply:

     a.  The Agent will show the Project to prospective tenants;

     b.  The Agent will take and process applications for rentals. If an
         application is rejected, the applicant will be told the reason for
         rejection, and will be given the rejected application, with reason for
         rejection noted. A current list of prospective tenants will be
         maintained;

     c.  The Agent will prepare all dwelling leases and, unless otherwise
         directed by the Owner, will execute the same in its name, identifying
         itself thereon as agent for the Owner. Dwelling leases will be in a
         form approved by the Owner;

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     d.  The Owner will furnish the Agent with rent schedules, showing contract
         rents for dwelling units, and other charges for facilities and
         services. The Agent will periodically review such rent schedules and
         make recommendations to the Owner with respect to changes thereto;

     e.  The Agent will collect, deposit, and disburse security deposits, if
         required, in accordance with the terms of each tenant's lease;

     f.  The Agent will negotiate and prepare commercial leases and concession
         agreements, if the Project shall now or hereafter contain any
         commercial space, and will execute the same in its name, identified
         thereon as agent for the Owner, subject to the Owner's prior approval
         of all terms and conditions; and

     g.  The Agent will perform periodic market surveys with respect to the
         market area in which the Project is located.

     6.  COLLECTION OF RENTS AND OTHER RECEIPTS. The Agent will collect, when
due, all rents, charges and other amounts receivable for the Owner's account in
connection with the management and operation of the Project. Such receipts will
be deposited in an account, separate from all other accounts and funds, with a
bank whose deposits are insured by the Federal Deposit Insurance Corporation.
This account will be carried in the Owner's name and designated of record as
"DOH, Inc. dba "DORSEY'S FORGE APARTMENTS" (the "Project Rental Account").
Subject to compliance with Section 11 hereof, the Agent is, however, hereby
authorized to make deposits to and withdrawals from the Project Rental Account
as agent for the Owner.

     7.  ENFORCEMENT OF LEASES. The Agent will secure full compliance by each
tenant with the terms of such tenant's lease. Voluntary compliance will be
emphasized, but the Agent may lawfully terminate any tenancy when, in the
Agent's judgment, sufficient cause (including but not limited to non-payment of
rent) for such termination occurs under the terms of the tenant's lease. For
this purpose, the Agent is authorized to consult with legal counsel, to be
designated by the Owner, to bring actions for eviction against such tenants;
provided, however, the Agent shall keep the Owner informed of such actions and
shall follow such instructions as the Owner may prescribe for the conduct of any
such action. Subject to the Owner's approval, attorney fees and other necessary
costs incurred in connection with such actions will be paid out of the Project
Rental Account as Project expenses.

     8.  MAINTENANCE AND REPAIR. The Agent will maintain the Project in good
repair and in compliance with local codes, and in a condition at all times
acceptable to the Owner, including, but not limited to, cleaning, painting,
decorating, plumbing, carpentry, grounds care, and such other maintenance,
repair, remodeling and refurbishing work as may be necessary, subject to any
limitations imposed by the Owner in addition to those contained herein. The
Agent will also assist the Owner in identifying and implementing capital
improvements to the Project.

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The Agent will perform such periodic physical inspections as shall be
appropriate in connection therewith. Incident thereto, the following additional
provisions will apply:

     a.  Special attention will be given to preventive maintenance, and, to the
         extent feasible, the services of regular maintenance employees will be
         used;

     b.  Subject to the Owner's prior approval, the Agent will negotiate, review
         and sign, on behalf of the Owner, contracts with qualified independent
         contractors for the maintenance and repair of heating and
         air-conditioning systems and elevators, and for extraordinary repairs
         to such items and other assets of the Project, which are beyond the
         capability of regular maintenance employees;

     c.  The Agent will systematically and promptly receive and investigate all
         service requests from tenants, take such action thereon as may be
         justified, and will keep records of the same. Emergency requests will
         be received and serviced on a twenty-four (24) hour basis. Complaints
         of a serious nature will be reported to the Owner after investigation;

     d.  The Agent is authorized to purchase all materials, equipment, tools,
         appliances, supplies and services necessary to the proper maintenance
         and repair of the Project; and

     e.  Notwithstanding any of the foregoing provisions, the prior approval of
         the Owner will be required for any expenditure which exceeds Five
         Thousand Dollars ($5,000) in any one instance for labor, materials or
         otherwise, in connection with the maintenance and repair of the
         Project, except for recurring expenses within the limits of the
         operating budget and emergency repairs involving manifest danger to
         persons or property or required to avoid suspension of any necessary
         service to the Project. In the latter event, the Agent will inform the
         Owner of the facts as promptly as possible.

     9.  UTILITIES AND SERVICES. In accordance with the operating budget, the
Agent will make arrangements for water, electricity, gas, sewage and trash
disposal, vermin extermination, decorating, laundry facilities, and telephone
service. Subject to the Owner's prior approval, the Agent will make such
contracts as may be necessary to secure such utilities and services.

     10. NONCUSTOMARY SERVICES. Notwithstanding any contrary provision in this
Agreement, the Owner shall cause any services, in connection with the rental of
the Project, that are not customarily furnished to tenants of comparable
buildings in the region (including, but not limited to, the provision of maid
service and the furnishing of parking facilities, other than on a complimentary,
unreserved basis), to be performed by an entity qualifying as an independent
contractor.

     11. EMPLOYEES. Except as otherwise agreed, all on-site personnel will be
employees of the Owner, for purposes of their compensation, and not the Agent,
but will be hired, paid,

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supervised, and discharged through the Agent, in the Agent's sole discretion,
subject to the following conditions:

     a.  The resident manager will have duties of the type usually associated
         with this position;

     b.  Compensation (including fringe benefits) of bookkeeping, clerical, and
         other managerial personnel will be within the Agent's sole discretion,
         provided minimum wage standards are met;

     c.  The Owner will reimburse the Agent for the compensation (including
         fringe benefits) payable to the on-site management and maintenance
         employees, and for all local, state and federal taxes and assessments
         (including, but not limited to, Social Security taxes, unemployment
         insurance, and Workman's Compensation insurance) incident to the
         employment of such personnel. Such reimbursements will be paid out of
         the Project Rental Account and will be treated as Project expenses; and

     d.  Compensation (including fringe benefits) payable to the on-site staff,
         and all bookkeeping, clerical and other managerial personnel, plus all
         local, state and federal taxes and assessments incident to the
         employment of such personnel will be borne solely by the Project, and
         will not be paid out of the Agent's management fee. The rental value of
         any dwelling unit furnished rent-free to on-site personnel will be
         treated as a cost of the Project.

     12. DISBURSEMENTS FROM PROJECT RENTAL ACCOUNT.

     a.  From the funds collected and deposited by the Agent in the Project
         Rental Account, either the Owner or the Agent, as shall be determined
         from time to time by the Owner, will make the following disbursements,
         when payable:

         (1)   Reimbursement to the Agent for compensation payable to the
               employees specified in Section 10 above, and for the taxes and
               assessments payable to local, state and federal governmental
               agencies;

         (2)   All sums otherwise due and payable by the Owner as expenses of
               the Project, including compensation payable to the Agent for its
               services hereunder and expenses of the Project incurred by the
               Agent under the terms of this Agreement;

         (3)   Any payment required to be made monthly by the Owner to any
               mortgagee of the Project, including the amounts due under the
               mortgage for principal amortization, interest, ground rents,
               taxes and assessments, and fire and other hazard insurance
               premiums;

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     b.  Except for the disbursements mentioned above, funds will be disbursed
         or transferred from the Project Rental Account only as the Owner may
         from time to time direct; and

     c.  In the event the balance in the Project Rental Account is at any time
         insufficient to pay disbursements due and payable under Section 11(a)
         above, the Agent will inform the Owner of that fact and Owner shall
         immediately deposit sufficient funds. In no event will the Agent be
         required to use its own funds to pay such disbursements.

     13. RECORDS AND REPORTS. The Agent will have the following responsibilities
with respect to records and reports:

     a.  The Agent will establish and maintain a comprehensive system of
         records, books and accounts in a manner satisfactory to the Owner;

     b.  With respect to each fiscal year ending during the term of this
         Agreement, the Agent will furnish an annual financial report. The Agent
         will also prepare and review budgets and cash flow projections for the
         Project in such manner and at such times as may be agreed with the
         Owner;

     c.  The Agent will furnish such information (including occupancy reports)
         as may be reasonably requested by the Owner from time to time with
         respect to the financial, physical, or operating condition of the
         Project; and

     d.  By the twenty-fifth (25th) day of each month, the Agent will furnish
         the Owner with a statement of receipts and disbursements during the
         previous month, a schedule of accounts receivable and payable, as of
         the end of the previous month and reconciled bank statements for the
         Project Rental Account, as of the end of the previous month.

     14. ON-SITE MANAGEMENT FACILITIES. Subject to the further agreement of the
Owner and the Agent as to more specific terms, the Agent will maintain a
management office within the Project, for the convenience of the Owner, for the
sole purpose of the Agent's performing its duties under this Agreement, and the
Owner will make no rental charge for such office.

     15. INSURANCE. The Owner will inform the Agent of insurance to be carried
with respect to the Project and its operations, and the Agent, when authorized
by the Owner, will cause such insurance to be placed and kept in effect at all
times. The Agent will pay premiums out of the Project Rental Account, as an
expense of the Project. All insurance will be placed with such companies, on
such conditions, in such amounts, and with such beneficial interests appearing
thereon as shall be acceptable to the Owner and shall be otherwise in conformity
with any mortgage relating to the Project, provided that the same will include
public liability coverage, with the Agent designated as one of the insured, in
amounts acceptable to the Owner, Agent and any mortgagee of the Project. The
Agent will investigate and furnish the Owner with full reports

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as to all accidents, claims, and potential claims for damage relating to the
Project and will cooperate with the Owner's insurers in connection therewith.

     16. AGENT'S COMPENSATION. The Agent will be compensated for its service
under this Agreement by monthly fees to be paid out of the Project Rental
Account to be treated as Project expenses. Such fees will be payable monthly.
Each such monthly fee will be in an amount equal to FIVE PERCENT (5%) of the
gross receipts (including rentals and other operating income of the Project)
actually received during the preceding month. In addition, the Agent shall
receive reimbursement for all proper expenditures, obligations and liabilities
incurred by the Agent in connection with the operation of the Project. Such
reimbursement shall be limited to the actual cost of goods, services and
materials used for or by the Project, and in no event shall such cost exceed the
cost of such items if supplied by persons or entities other than the Agent or
its affiliates. Such reimbursement shall not include reimbursement for costs of
services rendered by employees who are not employed in the operation of the
Project (except that employees servicing more than one property (whether or not
owned by the Owner) may have their costs prorated based upon the respective
number of units or square footage in each property), or other expenses for which
managing agents of real estate would not customarily receive reimbursement in
addition to stated compensation.

     17. INDEMNIFICATION BY THE OWNER. The Owner shall indemnify and hold
harmless the Agent from all liability, claims, damages or loss arising out of
the performance of its duties hereunder, and related expenses, including
reasonable attorneys' fees, to the extent such liability, claims, damages or
losses and related expenses are not fully reimbursed by insurance; provided,
however, that the Agent shall be entitled to indemnification, under this Section
17, only if the Agent, in connection with any liability, damages, claim or loss
for which it seeks indemnity, acted in a manner which would not constitute gross
negligence or willful misfeasance.

     18. INDEMNIFICATION BY THE AGENT. The Agent shall indemnify and hold
harmless the Owner from contract or other liability, claims, damages, losses and
related expenses, including attorneys' fees, to the extent that such liability,
claims, damages, losses and related expenses are not fully reimbursed by
insurance and are incurred by the Owner by reason of the Agent's deliberate
dishonesty or gross negligence.

     19. RIGHT TO ASSIGN. The Agent may assign some or all of its rights or
obligations under this Agreement, provided that the Agent remains principally
responsible hereunder, and the Owner is given notice of such assignment. The
Owner may assign its rights and obligations under this Agreement to any
successor in title to the Property, and upon any such assignment, the Owner
shall be relived of all liability accruing after the effective date of such
assignment.

     20. TERM OF AGREEMENT. This agreement shall be in effect for a period
commencing on the date hereof. This agreement may be terminated, without
penalty, by written notice of either party to the other as of the end of any
calendar month, provided at least sixty (60) days advance notice thereof is
given.

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     IN WITNESS WHEREOF, the parties hereto (by their duly authorized
representatives) have executed this Agreement as of the date first above
written.

OWNER:                                    AGENT:

DOH, INC.                                 BRI OP LIMITED PARTNERSHIP
                                          By: Berkshire Apartments, L.L.C.
                                              its General Partner

By: /s/ David Quade                           By: /s/ Tom Austin
    --------------------                          -------------------------<Page>

                                                                   EXHIBIT 10.11

                       ASSIGNMENT OF MANAGEMENT AGREEMENT

     THIS ASSIGNMENT OF MANAGEMENT AGREEMENT (this "ASSIGNMENT") is made and
entered into as of April 1, 2002 by and among (i) DOH, INC. (the "GUARANTOR"), a
Maryland corporation (ii) REILLY MORTGAGE CAPITAL CORPORATION (the "LENDER"), a
Virginia corporation, and (iii) BRI OP LIMITED PARTNERSHIP (the "MANAGER"), a
Delaware limited partnership.

                                    RECITALS:

     A.   Guarantor is the owner of a multifamily residential apartment project
located in Columbia (Howard County), Maryland (the "MORTGAGED PROPERTY").

     B.   Manager is the managing agent of the Mortgaged Property pursuant to a
Management Agreement dated as of April 27, 2000, between Guarantor and Manager
(the "MANAGEMENT AGREEMENT").

     C.   Lender is about to make a loan to KRF3 Acquisition Company, L.L.C., a
Delaware limited liability company ("BORROWER") in the amount of $10,635,000.00
(the "LOAN"). The Loan will be evidenced by a Multifamily Note and will be
guaranteed by Guarantor pursuant to a Guaranty, which will be secured by an
Indemnity Multifamily Deed of Trust, Assignment of Rents and Security Agreement
(the "SECURITY INSTRUMENT") which encumbers the Mortgaged Property.

     D.   Guarantor is willing to assign its rights under the Management
Agreement to Lender as additional security for the Loan.

     E.   Manager is willing to consent to this Assignment and to attorn to
Lender upon a default by Borrower or Guarantor under the documents evidencing
and relating to the Loan, and perform its obligations under the Management
Agreement for Lender, or its successors in interest, or to permit Lender to
terminate the Management Agreement without liability.

     NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, and intending to be legally bound,
Guarantor, Lender and Manager agree as follows:

     1.   Guarantor hereby transfers, assigns and sets over to Lender, its
successors and assigns, all right, title and interest of Guarantor in and to the
Management Agreement. Manager hereby consents to the foregoing assignment. The
foregoing assignment is being made by Guarantor to Lender as collateral security
for the full payment and performance by Guarantor of all of its obligations
under the loan documents relating to the Loan to which Guarantor is a party.
However, until the occurrence of an Event of Default (as such term is defined in
the loan documents evidencing and securing the Loan) Guarantor may exercise all
rights as owner of the Mortgaged Property under the Management Agreement, except
as otherwise provided in this Assignment. The foregoing assignment shall remain
in effect as long as the Loan, or any part thereof,

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remains unpaid, but shall automatically terminate upon the release of the
Security Instrument as a lien on the Mortgaged Property.

     2.   Guarantor and Manager represent and warrant to Lender that (i) the
Management Agreement is unmodified and is in full force and effect, (ii) the
Management Agreement is a valid and binding agreement enforceable against the
parties in accordance with its terms, and (iii) neither party is in default in
performing any of its obligations under the Management Agreement.

     3.   Guarantor hereby covenants with Lender that during the term of this
Assignment: (a) Guarantor shall not transfer the responsibility for management
of the Mortgaged Property from Manager to any other person or entity without the
prior written consent of Lender; (b) Guarantor shall not terminate or amend any
of the terms or provisions of the Management Agreement without the prior written
consent of Lender; and (c) Guarantor shall give Lender written notice of any
notice or information that Guarantor receives which indicates that Manager is
terminating the Management Agreement or that Manager is otherwise discontinuing
its management of the Mortgaged Property.

     4.   Upon receipt by Manager of written notice from Lender that an Event of
Default as that term is defined in the loan documents evidencing and securing
the Loan) has occurred and is continuing, Lender shall have the right to
exercise all rights as owner of the Mortgaged Property under the Management
Agreement.

     5.   After the occurrence of an Event of Default, Lender (or its nominee)
shall have the right any time thereafter to terminate the Management Agreement,
without cause and without liability, by giving written notice to Manager of its
election to do so. Lender's notice shall specify the date of termination, which
shall not be less than 30 days after the date of such notice.

     6.   On the effective date of termination of the Management Agreement,
Manager shall turn over to Lender all books and records relating to the
Mortgaged Property (copies of which may be retained by Manager, at Manager's
expense), together with such authorizations and letters of direction addressed
to tenants, suppliers, employees, banks and other parties as Lender may
reasonably require: Manager shall cooperate with Lender in the transfer of
management responsibilities to Lender or its designee. A final accounting of
unpaid fees (if any) due to Manager under the Management Agreement shall be made
within 60 days after the effective date of termination, but Lender shall not
have any liability or obligation to Manager for unpaid fees or other amounts
payable under the Management Agreement which accrue before Lender (or its
nominee) acquires title to the Mortgaged Property, or Lender becomes a mortgagee
in possession.

     7.   Manager's address for notice is c/o Berkshire Realty Group, One Beacon
Street, Boston, Massachusetts 02108. All notices to be given by Lender to
Manager shall be given in the same manner as notices to Guarantor pursuant to
the notice provisions contained in the Security Instrument.

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     8.   Modifications (if any) to this Assignment are attached on Exhibit A to
this Assignment.

     9.   This Assignment may be executed in any number of counterparts, each of
which shall be considered an original for all purposes; provided, however, that
all such counterparts shall constitute one and the same instrument.

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     IN WITNESS WHEREOF, Guarantor, Lender and Manager have executed this
Assignment as of the day and year first above written.

                                         GUARANTOR:

                                         DOH, INC., a Maryland corporation

                                         By: /s/ David C. Quade
                                             ----------------------------
                                             David C. Quade
                                             Vice President

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                                         LENDER:

                                         REILLY MORTGAGE CAPITAL
                                          CORPORATION, a Virginia corporation

                                         By: /s/ Mark E. Gordon
                                             -------------------------------
                                             Mark E. Gordon
                                             Assistant Vice President

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                                         MANAGER:

                                         BRI OP LIMITED PARTNERSHIP, a
                                          Delaware limited partnership

                                         By: Berkshire Apartments, L.L.C.,
                                             General Partner

                                         By: /s/ David C. Quade
                                             ----------------------------
                                             Name:
                                             Title:

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                                    EXHIBIT A
               MODIFICATIONS TO ASSIGNMENT OF MANAGEMENT AGREEMENT

The following modifications are made to the text of the Assignment that precedes
this Exhibit:

The Assignment is modified by adding a new Section 10 and a new Section 11 as
follows:

         "10.  Manager agrees that:

                    (a)     (i) any fees payable to Manager pursuant to the
               Management Agreement are and shall be subordinated in right of
               payment, to the extent and in the manner provided in this
               Assignment, to the prior payment in full of the Indebtedness (as
               defined in the Security Instrument), and (ii) the Management
               Agreement is and shall be subject and subordinate in all respects
               to the liens, terms, covenants and conditions of the Security
               Instrument and the other loan documents evidencing and securing
               the Loan and to all advances heretofore made or which may
               hereafter be made pursuant to the Security Instrument (including
               all sums advanced for the purposes of (x) protecting or further
               securing the lien of the Security Instrument, curing defaults by
               Guarantor under the Security Instrument or for any other purposes
               expressly permitted by the Security Instrument, or (y)
               constructing, renovating, repairing, furnishing, fixturing or
               equipping the Mortgaged Property);

                    (b)     if, by reason of its exercise of any other right or
               remedy under the Management Agreement, Manager acquires by right
               of subrogation or otherwise a lien on the Mortgaged Property
               which (but for this subsection) would be senior to the lien of
               the Security Instrument, then, in that event, such lien shall be
               subject and subordinate to the lien of the Security Instrument;

                    (c)     until Manager receives notice (or otherwise acquires
               actual knowledge) of an Event of Default, Manager shall be
               entitled to retain for its own account all payments made under or
               pursuant to the Management Agreement;

                    (d)     after Manager receives notice (or otherwise acquires
               actual knowledge) of an Event of Default, it will not accept any
               payment of fees under or pursuant to the Management Agreement
               without Lender's prior written consent;

                    (e)     if, after Manager receives notice (or otherwise
               acquires actual knowledge) of an Event of Default, Manager
               receives any payment of fees under the Management Agreement, or
               if Manager receives any other payment or distribution of any kind
               from Guarantor or from any

                                       A-1
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               other person or entity in connection with the Management
               Agreement which Manager is not permitted by this Assignment to
               retain for its own account, such payment or other distribution
               will be received and held in trust for Lender and unless Lender
               otherwise notifies Manager, will be promptly remitted, in cash or
               readily available funds, to Lender, properly endorsed to Lender,
               to be applied to the principal of, interest on and other amounts
               due under the loan documents evidencing and securing the Loan in
               such order and in such manner as Lender shall determine in its
               sole and absolute discretion. Manager hereby irrevocably
               designates, makes, constitutes and appoints Lender (and all
               persons or entities designated by Lender) as Manager's true and
               lawful attorney in fact with power to endorse the name of Manager
               upon any checks representing payments referred to in this
               subsection;

                    (f)     Manager shall notify (telephonically, followed by
               written notice) Lender of Manager's receipt from any person or
               entity other than Guarantor or Borrower of a payment with respect
               to Guarantor's and Borrower's obligations under the loan
               documents evidencing and securing the Loan, promptly after
               Manager obtains knowledge of such payment; and

                    (g)     during the term of this Assignment Manager will not
               commence, or join with any other creditor in commencing any
               bankruptcy, reorganization, arrangement, insolvency or
               liquidation proceedings with respect to Guarantor, without
               Lender's prior written consent.

         11.   Guarantor agrees that after Guarantor receives notice (or
               otherwise has actual knowledge) of an Event of Default, it will
               not make any payment of fees under or pursuant to the Management
               Agreement without Lender's prior written consent."

                                         /s/ DCQ
                                         ---------------------------------
                                         Guarantor Initials

                                         /s/ MEG
                                         ---------------------------------
                                         Lender Initials

                                         /s/ DCQ
                                         ---------------------------------
                                         Manager Initials

                                       A-2

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