Date Admitted

Name and address of partners

Value of non-cash capital contribution

Partnership units issued

Approx. Percentage Interests

Federal ID #

2/12/1997

Golf Legends Ltd., Inc. 
1500 Legends Drive
Myrtle Beach, SC  29578

$

30,647,030

1,532,352

57-0886834

4/2/2001

Legends (conversion)

(294,613

)

7/31/2001

Redemption at disposition

$

(14,852,868

)

(1,237,739

)

7/31/2001

Residual Value

$

(15,794,162

)

Legends Total

$

-

-

0.00

%

2/12/1997

Seaside Resorts Ltd., Inc.
1500 Legends Drive
Myrtle Beach, SC 29578

$

16,129,118

806,456

57-0729308

7/31/2001

Redemption at disposition

(9,677,472

)

(806,456

)

7/31/2001

Residual Value

(6,451,646

)

Seaside Resorts Ltd., Inc. Total

$

-

-

0.00

%

2/12/1997

Heritage Golf Club, Ltd., Inc.

1500 Legends Drive

Myrtle Beach, SC 29578

$

16,031,230

801,561

57-0818596

1/6/1999

Heritage (conversion)

(11,700

)

7/31/2001

Redemption at disposition

(9,478,332

)

(789,861

)

7/31/2001

Residual Value

(6,552,898

)

Heritage Golf Club, Ltd., Inc. Total

$

 -

-

0.00

%

2/12/1997

Legends of Virginia L.C.

1500 Legends Drive

Myrtle Beach, SC 29578

$

11,963,738

598,187

57-1003883

4/2/2001

Legends (conversion)

(598,187

)

7/31/2001

Residual Value

$

(11,963,738

)

Legends of Virginia Total

$

-

-

0.00

%

2/12/1997

Northgate

16055 Northgate Forest Drive

Houston, TX 77068

$

3,797,071

189,854

76-0527250

5/20/1998

Northgate (redemption)

$

(158,969

)

(5,000

)

1/6/1999

Northgate (conversion

$

-

(30,000

)

3/2/2001

Northgate (conversion)

(60,581

)

Northgate Total

$

3,638,102

94,273

1.17

%

Date Admitted

Name and address of partners

Value of non-cash capital contribution

Partnership units issued

Approx. Percentage Interests

Federal ID #

2/12/1997

Olde Atlanta Golf Club Limited Partnership
c/o The Crescent Company
1580 S. Milwaukee Ave., Suite 101 Libertyville, IL 60048

$

1,444,926

72,246

36 ###-###-####

4/13/1998

Olde Atlanta (redemption)

$

(62,837.60

)

(2,000

)

5/20/1998

Olde Atlanta (redemption)

$

(64,017.60

)

(2,000

)

8/21/1998

Olde Atlanta (redemption)

$

(52,387.50

)

(1,500

)

12/10/1998

Olde Atlanta (redemption)

$

(30,166.11

)

(1,150

)

1/20/1999

Olde Atlanta (redemption)

$

(66,078.50

)

(2,500

)

4/6/1999

Olde Atlanta (conversion)

$

-

(2,000

)

5/1/1999

Olde Atlanta (recapitalization)

$

683,967

30,826

5/27/1999

Olde Atlanta (conversion))

(2,000

)

7/15/1999

Olde Atlanta (conversion)

(3,500

)

1/10/2000

Olde Atlanta (conversion)

(3,300

)

1/26/2000

Olde Atlanta (conversion)

(4,100

)

4/28/2000

Olde Atlanta (correction from 3/24/99)

2,000

8/14/2000

Olde Atlanta (conversion)

(10,600

)

7/9/2001

Redemption at disposition

(757,036.50

)

(70,422

)

7/9/2001

Residual Value

(1,096,369.48

)

Olde Atlanta Total

$

-

-

0.00

%

2/12/1997

Bright's Creek Development Co. LLC
104 Cotton Creek Drive
Gulf Shores, AL  36542

$

2,119,005

105,950

63-1120089

5/1/2001

Redemption at disposition

(1,271,400

)

(105,950

)

5/1/2001

Residual Value

(847,605

)

Woodlands Total

$

-

-

0.00

%

10/31/1996

David Dick Joseph

14 North Adger's Wharf

Charleston, SC 29401

-

12,500

0.00

%

###-##-####

12/14/1999

David Dick Joseph (conversion)

(12,500

)

-

-

2/4/1997

W. Bradley Blair, II
14 North Adger's Wharf

Charleston, SC 29401

$

-

12,500

0.15

%

###-##-####

Date Admitted

Name and address of partners

Value of non-cash capital contribution

Partnership units issued

Approx. Percentage Interests

Federal ID #

2/4/1997

James Hoppenrath
422 1/2 Marguerite Ave.
Corona Del Mar CA 92625

$

-

3,750

0.00

%

###-##-####

1/6/2000

James Hoppenrath (conversion)

(3,750

)

$

-

-

6/20/1997

Golf Host Resorts, Inc.
c/o Starwood Capital Group, LP
Three Pickwick Plaza, Suite 250 Greenwich, CT  06830

$

-

274,039

0.00

%

84-0631130

3/3/2000

Golf Host (conversion)

(274,039

)

-

9/2/1997

John J. Rainieri, Sr.
Betty Rainieri
4350 Mayfair Road
Uniontown, OH 44685

$

3,198,168

114,237

###-##-#### ###-##-####

1/4/2001

Redemption at disposition

$

(910,632

)

(75,886

)

5/16/2001

Redemption at disposition

$

(460,212

)

(38,351

)

5/16/2001

Residual Value

$

(1,827,324

)

Rainieri Total-

$

-

0

0.00

%

9/2/1997

Raintree Country Club, Inc.
4350 Mayfair Road
Uniontown, OH 44685

$

204,138

7,292

0.00

%

34-1736212

1/4/2001

Raintree (redemption at disposition)

$

(87,504

)

(7,292

)

1/4/2001

Residual Value
(Value at Issue – Value at Redemption)

$

(116,634

)

Raintree Country Club, Inc. Total

$

-

-

0.00

%

9/30/1997

Eagle Watch Golf Club,
Limited Partnership
c/o E. Neal Trogdon 
The Crescent Company 
1580 South Milwaukee Avenue, Suite 101
Libertyville, IL 60048

$

1,890,682

70,158

36 ###-###-####

11/2/1998

Eagle Watch (redemption)

$

(64,199.00

)

(2,150

)

5/21/1999

Eagle Watch  (conversion)

(1,250

)

4/28/2000

Eagle Watch (correction from 3/24/99)

(2,000

)

7/9/2001

Redemption at disposition

$

(696,148.50

)

(64,758

)

7/9/2001

Residual Value

$

(1,130,334.50

)

Eagle Watch Total

$

-

-

0.00

%

Date Admitted

Name and address of partners

Value of non-cash capital contribution

Partnership units issued

Approx. Percentage Interests

Federal ID #

5/22/1998

Eagle Ridge Lease Company LLC
16100 N. Greenway-Hayden Loop
Scottsdale, AZ 85260

$

1,198,750

35,794

0.44

%

52 ###-###-####

5/28/1998

Golf Classic Resorts, LLC
536 South Avenue
Glencoe, IL  60022

$

879,995

26,357

0.00

%

85-0453484

11/26/1999

Golf Classic Resorts (redemption)

$

(199,633

)

(11,577

)

12/31/1999

Golf Classic Resorts (redemption)

$

(34,517

)

(2,060

)

2/7/2000

Golf Classic Resorts (redemption)

$

(221,408

)

(12,720

)

2/7/2000

Residual Value
(Value at Issue - Value at Redemption)

$

(424,437

)

-

-

8/28/1998

Osage National Golf Club LLC
900 Hickory Street
St. Louis, MO 63104

$

3,451,068

124,700

43-1735431

6/30/1999

Osage (Redemption)

$

(1,393,382

)

(58,576

)

6/20/2000

Osage (Redemption)

$

(1,055,101

)

(66,124

)

6/20/2000

Residual Value
(Value at Issue - Value at Redemption)

$

(1,002,585

)

-

-

0.00

%

12/14/1998

Brentwood  Golf & Country Club, Inc.
4801 Faircourt,
West Bloomfield, MI  48322
PO Box 386,
Union Lake, MI 48387

$

650,000

24,482

0.00

%

38 ###-###-####

6/20/2000

Brentwood (Redemption)

$

(390,645

)

(24,482

)

6/20/2000

Residual Value

$

(259,355

)

-

-

12/22/1998

Gutta-Percha Golf, Inc.
365 W. California Blvd.  Suite 2
Pasadena, CA  91105

$

870,000

32,986

0.00

%

95 ###-###-####

9/5/2000

Palm Desert (Redemption)

$

(460,785

)

(32,986

)

9/5/2000

Residual Value

$

(409,215

)

$

-

-

2/4/1997

GTA LP, Inc.
14 North Adger's Wharf
Charleston, SC 29401

$

-

7,761,550

96.09

%

58 ###-###-####

2/4/1997

GTA GP, Inc.
14 North Adger's Wharf Charleston, SC 29401

$

-

16,553

0.20

%

58 ###-###-####

Total Common OP Units

8,076,993

100.00

%

Series A Preferred OP Units

4/2/1999

GTA LP, Inc.

14 North Adger's

Wharf Charleston, SC 29401

20,000,000

800,000

100

%

Series B Preferred OP Units

5/11/1999

Metamora Golf Operating Company, L.L.C.

 c/o Total Golf, Inc.

1303 W. Commerce Drive

Milford, MI  48380

295,003

10,169

38 ###-###-####

9/25/2000

Redemption at Disposition

(295,003

)

(10,169

)

-

-

0.00

%

Series C Preferred OP Units

7/28/1999

Burning Embers Corporation

801Aaron Smith Drive

Bridgeport, WV  26330

1,350,000

48,949

55-0720833

6/20/2001

Redemption (foreclosure on collateral)

(1,350,000

)

(48,949

)

-

-

0.00

%