12600 Whitewater, in the Minnetonka Corporate Center near Minneapolis, was purchased below replacement cost. Leased 95 percent at acquisition, the largest tenant has contracted for the balance of the available space at current market rates and extended their least to 2010. Additional opportunity lies in renewing the other tenants in 2010 at market rates, thus stabilizing rates at competitive levels over the life of the fund.

Built in 1997 and renovated in 2002, the 70,705 square foot office building is 100 percent leased to three tenants as of January 2007. The two-story atrium lobby divides the north and south wings of the attractive structure. A dining area with outside patio seating overlooks a greenbelt and forms part of the first floor common area. The property is eight miles west of Minneapolis and 15 minutes from Minneapolis- St. Paul International Airport. The Site provides convenient access to Interstate 494 and Highway 62.

Property Highlights:

• Class A suburban asset located in the Minnetonka Corporate Center
• 6.14 acres adjacent to a natural, wooded greenbelt
• Climate controlled executive parking plus generous 3.8 parking spaces per 1,000 square feet of office space
• Easy access to Interstate 494 and Highway 62