ACRON USA FONDS Giant/Elmcrest L.P. (Portfolio Mix)

Portfolio Mix:

Office Building – Tulsa, Oklahoma & Supermarket – Philadelphia, Pennsylvania

The ACRON USA FONDS Giant / Elmcrest investment company consisted of two real estate limited partnerships, one of which held the Elmcrest Park office building in Tulsa, Oklahoma, while the other held a supermarket in Philadelphia, Pennsylvania. Due to a lucrative offer made by third-party investors that the general partner submitted for consideration to the investors of ACRON USA FONDS Giant/Elmcrest L.P., the Elmcrest Park office property was sold in December 2001. After the sale of the two properties and liquidation of the fund, the investors of the investment company recouped 91.03 percent of the equity they had originally invested.

Public Offering

Legal form	U.S. Limited Partnership
Year acquired	1997 / 1998
Year sold	2001 / 2003
Number of partners	41

Property I - Elmcrest Park

Type of use & location	Office building - Tulsa, Oklahoma
Year constructed	1984

Property II - Supermarket

Type of use & location	Supermarket - Philadelphia, Pennsylvania
Year constructed	1987

Key Figures (in USD)

Investment volume, gross1)	5,767,164
Equity	1,675,000
Borrowed funds	4,092,164
Selling price, net	6,800,000

Overall Result

Holding period	4 years
Return	Repayment of 91.03% of the equity

¹⁾ Includes purchase price, additional costs, cash reserves (if any), and all soft costs.