ACRON Lawrence L.P.

Supermarket – Lawrence, Kansas

Lawrence is a modern supermarket half a mile north of the University of Kansas in Lawrence. The property was sold on February 7, 2008 and transferred to its new owner effective March 20, 2008. The selling price totalled USD 5.5 million. Following the liquidation of the fund assets, the fund generated an average return of 9.85 percent annually, calculated over a ten-year investment period. The aggregate return after deduction of taxes amounted to approx. 230 percent of the original investment amount.

Public Offering

Legal form	U.S. Limited Partnership
Year acquired	1997
Year sold	2008
Number of partners	26

The Property

Type of use	Supermarket
Year constructed	1989

Key Figures (in USD)

Investment volume, gross1)	4,589,000
Equity	1,597,000
Borrowed funds	2,992,000
Selling price, net	5,500,000

Overall Result

Holding period	11 years
Return, IRR	9.85 % annually

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