
| PROPERTY NAME | LOCATION | CLIENT/SELLER | CLOSING | UNITS | CLOSING PRICE |
| Holly Street | Pasadena, CA | Pasadena Civic Center West | 01/2003 | 374 | 64,000,000 |
| La Venezia | Sarasota, FL | Epoch/Prudential Real Estate | 01/2003 | 348 | 32,750,000 |
| Pasadena Land | Pasadena, CA | The Hanover Company | 01/2003 | 5,800,000 | |
| Reserve at Naples | Naples, FL | The Related Group | 01/2003 | 300 | 32,800,000 |
| 5375 Sugarloaf | Atlanta, GA | Worthing Southeast | 02/2003 | 406 | 33,000,000 |
| Forest Hill Garden | West Palm Beach, FL | Waterton Associates | 03/2003 | 276 | 13,950,000 |
| McKenzie at Natomas Park | Sacramento, CA | HUP Northpointe Partners, LLC | 03/2003 | 152 | 20,570,000 |
| Playa Vista Land | Playa Vista , CA | Finger Companies | 03/2003 | 16,000,000 | |
| Westside Terrace | Los Angeles, CA | Avalon Bay Communities, Inc. | 03/2003 | 363 | 46,700,000 |
| Martin's Landing | Orlando, FL | Beneke/Krieg | 04/2003 | 419 | 15,470,660 |
| Triana | Corona, CA | UBS Brinson Realty Investors, LLC | 04/2003 | 328 | 41,025,000 |
| Villa Venetia | Costa Mesa, CA | Vista Del Lago LLC | 05/2003 | 468 | 74,000,000 |
| North Dallas Portfolio | Dallas, TX | North Dallas Apartments, Ltd. | 06/2003 | 804 | 38,380,000 |
| Post Paseo Colorado | Pasadena, CA | Post Properties/JP Morgan | 06/2003 | 391 | 98,000,000 |
| Woodlane Place | Woodbury, MN | Equity Residential | 07/2003 | 216 | 21,600,000 |
| Lincoln Park at Delray | Delray Beach, FL | RREEF | 09/2003 | 212 | 23,270,000 |
| Bridgwater | Greenwood Village, CO | Heitman | 11/2003 | 292 | 36,000,000 |
| Cortland Village | Hillsboro, OR | Cortland Jack, LLC | 12/2003 | 360 | 28,000,000 |
| Country Hills | Corona, CA | LaSalle Investment Management | 12/2003 | 419 | 37,800,000 |
| Jefferson at Imperial River | Bonita Springs, FL | JPI | 12/2003 | 198 | 18,331,000 |
| Malibu Meadows | Calabasas, CA | Legacy Partners | 12/2003 | 600 | 100,000,000 |
| Versailles | Woodland Hills, CA | SSR Realty Advisors | 12/2003 | 253 | 46,255,000 |
| 2003 TOTAL SALES | 7,179 | $843,701,660 | |||