FIFTH AMENDMENT TO AMENDED AND RESTATED MASTER LEASE AGREEMENT (LEASE NO. 2)

Contract Categories: Real Estate - Lease Agreements
EX-10.6 8 a12-19984_1ex10d6.htm EX-10.6

Exhibit 10.6

 

FIFTH AMENDMENT TO
AMENDED AND RESTATED MASTER LEASE AGREEMENT
(LEASE NO. 2)

 

THIS FIFTH AMENDMENT TO AMENDED AND RESTATED MASTER LEASE AGREEMENT (LEASE NO. 2) (this “Amendment”) is made and entered into as of August 31, 2012, by and among each of the parties identified on the signature pages hereof as a landlord (collectively, “Landlord”) and each of the parties identified on the signature pages hereof as a tenant (jointly and severally, “Tenant”).

 

W I T N E S S E T H:

 

WHEREAS, pursuant to the terms of that certain Amended and Restated Master Lease Agreement (Lease No. 2), dated as of August 4, 2009, as amended by that certain Partial Termination of and First Amendment to Amended and Restated Master Lease Agreement (Lease No. 2), dated as of November 1, 2009, that certain Partial Termination of and Second Amendment to Amended and Restated Master Lease Agreement (Lease No. 2), dated as of August 1, 2010, that certain Third Amendment to Amended and Restated Master Lease Agreement (Lease No. 2), dated as of June 20, 2011, and that certain Fourth Amendment to Amended and Restated Master Lease Agreement (Lease No. 2), dated as of July 22, 2011 (as so amended, “Amended Lease No. 2”), Landlord leases to Tenant, and Tenant leases from Landlord, the Leased Property (this and other capitalized terms used but not otherwise defined herein having the meanings given such terms in Amended Lease No. 2), all as more particularly described in Amended Lease No. 2; and

 

WHEREAS, simultaneously herewith, SNH/LTA Properties Trust (“SNH/LTA”) has acquired certain senior living facilities known as: (i) Forum at Desert Harbor, located at 13840 North Desert Harbor Drive, Peoria, AZ 85381, as more particularly described on Exhibit A-53 attached hereto (“Desert Harbor”); (ii) Forum at Tucson, located at 2500 North Rosemont Blvd., Tucson, AZ 85712, as more particularly described on Exhibit A-54 attached hereto (“Tucson”); (iii) Park Summit at Coral Springs, located at 8500 Royal Palm Blvd., Coral Springs, FL 33065, as more particularly described on Exhibit A-55 attached hereto (“Coral Springs”); (iv) Gables at Winchester, located at 299 Cambridge Street, Winchester, MA 01890, as more particularly described on Exhibit A-56 attached hereto (“Winchester”); and (v) Forum at Memorial Woods, located at 777 North Post Oak Road, Houston, TX 77024, as more particularly described on Exhibit A-57 attached hereto (“Memorial Woods” and together with Desert Harbor, Tucson, Coral Springs and Winchester, the “Acquired Properties”); and

 

WHEREAS, SNH/LTA wishes to lease the Acquired Properties to Five Star Quality Care Trust (“FSQC Trust”) and FSQC Trust wishes to lease the Acquired Properties from SNH/LTA; and

 

WHEREAS, SNH/LTA and the other entities comprising Landlord, and FSQC Trust and the other entities comprising Tenant, wish to amend Amended Lease No. 2 to include the Acquired Properties;

 

NOW, THEREFORE, in consideration of the mutual covenants herein contained and other good and valuable consideration, the mutual receipt and legal sufficiency of which are

 



 

hereby acknowledged, Landlord and Tenant hereby agree that, effective from and after the date hereof, Amended Lease No. 2 is hereby amended as follows:

 

1.                                      Definition of Minimum Rent.  The defined term “Minimum Rent” set forth in Section 1.67 of Amended Lease No. 2 is deleted in its entirety and replaced with the following:

 

Minimum Rent  shall mean the sum of Sixty-Nine Million Eight Hundred Ninety Thousand Two Hundred Sixty and 00/100 Dollars ($69,890,260.00) per annum.

 

2.                                      Leased Property.  Section 2.1 of Amended Lease No. 2 is amended by deleting subsection (a) therefrom in its entirety and replacing it with the following:

 

(a)                                 those certain tracts, pieces and parcels of land as more particularly described on Exhibits A-1 through A-57 attached hereto and made a part hereof (the “Land”);

 

3.                                      Arbitration.  Article 22 of Amended Lease No. 1 is deleted in its entirety and replaced with the following:

 

ARTICLE 22

 

ARBITRATION

 

(a)                                 Any disputes, claims or controversies between or among the parties hereto (i) arising out of or relating to this Agreement, or (ii) brought by or on behalf of any shareholder of the parties hereto (which, for purposes of this Article 22, shall mean any shareholder of record or any beneficial owner of shares of the parties hereto, or any former shareholder of record or beneficial owner of shares of the parties hereto), either on his, her or its own behalf, on behalf of the parties hereto or on behalf of any series or class of shares of the parties hereto or shareholders of the parties hereto against the parties hereto or any trustee, director, officer, manager (including Reit Management & Research LLC or its successor), agent or employee of the parties hereto, including disputes, claims or controversies relating to the meaning, interpretation, effect, validity, performance or enforcement of this Agreement, including this arbitration agreement, the declaration of trust, limited liability company agreement, partnership agreement or analogous governing instruments, as applicable, of the parties hereto, or the bylaws of the parties hereto (all of which are referred to as “Disputes”), or relating in any way to such a Dispute or Disputes, shall on the demand of any party to such Dispute be resolved through binding and final arbitration in accordance with the Commercial Arbitration Rules (the “Rules”) of the American Arbitration Association (“AAA”) then in effect, except as those Rules may be modified in this Article 22.  For the avoidance of doubt, and not as a limitation, Disputes are intended to include derivative actions against trustees, directors, officers or managers of the parties hereto and class actions by a shareholder against those individuals or entities and the parties hereto.  For the avoidance of doubt, a Dispute shall include a Dispute made derivatively on behalf of one party against another party.

 

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(b)                                 There shall be three arbitrators.  If there are only two parties to the Dispute (with, for purposes of this Article 22, any and all parties involved in the Dispute and owned by the same ultimate parent entity treated as one party), each party shall select one arbitrator within 15 days after receipt by respondent of a copy of the demand for arbitration.  Such arbitrators may be affiliated or interested persons of such parties.  If either party fails to timely select an arbitrator, the other party to the Dispute shall select the second arbitrator who shall be neutral and impartial and shall not be affiliated with or an interested person of either party. If there are more than two parties to the Dispute, all claimants, on the one hand, and all respondents, on the other hand, shall each select, by the vote of a majority of the claimants or the respondents, as the case may be, one arbitrator. Such arbitrators may be affiliated or interested persons of the claimants or the respondents, as the case may be.  If either all claimants or all respondents fail to timely select an arbitrator then such arbitrator (who shall be neutral, impartial and unaffiliated with any party) shall be appointed by the AAA.  The two arbitrators so appointed shall jointly appoint the third and presiding arbitrator (who shall be neutral, impartial and unaffiliated with any party) within 15 days of the appointment of the second arbitrator.  If the third arbitrator has not been appointed within the time limit specified herein, then the AAA shall provide a list of proposed arbitrators in accordance with the Rules, and the arbitrator shall be appointed by the AAA in accordance with a listing, striking and ranking procedure, with each party having a limited number of strikes, excluding strikes for cause.

 

(c)                                  The place of arbitration shall be Boston, Massachusetts unless otherwise agreed by the parties.

 

(d)                                 There shall be only limited documentary discovery of documents directly related to the issues in dispute, as may be ordered by the arbitrators.

 

(e)                                  In rendering an award or decision (the “Award”), the arbitrators shall be required to follow the laws of the Commonwealth of Massachusetts.  Any arbitration proceedings or Award rendered hereunder and the validity, effect and interpretation of this arbitration agreement shall be governed by the Federal Arbitration Act, 9 U.S.C. §1 et seq.  The Award shall be in writing and may, but shall not be required to, briefly state the findings of fact and conclusions of law on which it is based.

 

(f)                                   Except to the extent expressly provided by Article 22 or as otherwise agreed by the parties, each party involved in a Dispute shall bear its own costs and expenses (including attorneys’ fees), and the arbitrators shall not render an award that would include shifting of any such costs or expenses (including attorneys’ fees) or, in a derivative case or class action, award any portion of Assignor’s or Assignee’s award to the claimant or the claimant’s attorneys.  Except to the extent otherwise agreed by the parties, each party (or, if there are more than two parties to the Dispute, all claimants, on the one hand, and all respondents, on the other hand, respectively) shall bear the costs and expenses of its (or their) selected arbitrator and the parties (or, if there are more than two parties to the Dispute, all claimants, on the one hand, and all respondents, on the other hand) shall equally bear the costs and expenses of the third appointed arbitrator.

 

(g)                                  An Award shall be final and binding upon the parties thereto and shall be the sole and exclusive remedy between such parties relating to the Dispute, including any claims,

 

3



 

counterclaims, issues or accounting presented to the arbitrators.  Judgment upon the Award may be entered in any court having jurisdiction.  To the fullest extent permitted by law, no application or appeal to any court of competent jurisdiction may be made in connection with any question of law arising in the course of arbitration or with respect to any award made except for actions relating to enforcement of this agreement to arbitrate or any arbitral award issued hereunder and except for actions seeking interim or other provisional relief in aid of arbitration proceedings in any court of competent jurisdiction.

 

(h)                                 Any monetary award shall be made and payable in U.S. dollars free of any tax, deduction or offset.  Each party against which the Award assesses a monetary obligation shall pay that obligation on or before the 30th day following the date of the Award or such other date as the Award may provide.

 

(i)                                     This Article 22 is intended to benefit and be enforceable by the shareholders, trustees, directors, officers, managers (including Reit Management & Research LLC or its successor), agents or employees of any party and the parties and shall be binding on the shareholders of any party and the parties, as applicable, and shall be in addition to, and not in substitution for, any other rights to indemnification or contribution that such individuals or entities may have by contract or otherwise.

 

4.                                      Schedule 1.  Schedule 1 to Amended Lease No. 2 is deleted in its entirety and replaced with Schedule 1 attached hereto.

 

5.                                      Exhibit A.  Exhibit A to Amended Lease No. 2 is amended by adding Exhibits A-53 through A-57, attached hereto, immediately following Exhibit A-52 to Amended Lease No. 2.

 

6.                                      Ratification.  As amended hereby, Amended Lease No. 2 is hereby ratified and confirmed.

 

[Remainder of page intentionally left blank; signature pages follow]

 

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IN WITNESS WHEREOF, the parties have executed this Amendment as a sealed instrument as of the date above first written.

 

 

LANDLORD:

 

 

 

SPTIHS PROPERTIES TRUST

 

 

 

By:

/s/ David J. Hegarty

 

 

David J. Hegarty

 

 

President

 

 

 

SPTMNR PROPERTIES TRUST

 

 

 

By:

/s/ David J. Hegarty

 

 

David J. Hegarty

 

 

President

 

 

 

SNH/LTA PROPERTIES GA LLC

 

 

 

By:

/s/ David J. Hegarty

 

 

David J. Hegarty

 

 

President

 

 

 

SNH/LTA PROPERTIES TRUST

 

 

 

By:

/s/ David J. Hegarty

 

 

David J. Hegarty

 

 

President

 

 

 

O.F.C. CORPORATION

 

 

 

By:

/s/ David J. Hegarty

 

 

David J. Hegarty

 

 

President

 

 

 

SNH CHS PROPERTIES TRUST

 

 

 

By:

/s/ David J. Hegarty

 

 

David J. Hegarty

 

 

President

 

 

 

CCC OF KENTUCKY TRUST

 

 

 

By:

/s/ David J. Hegarty

 

 

David J. Hegarty

 

 

President

 



 

 

LEISURE PARK VENTURE LIMITED PARTNERSHIP

 

 

 

By:

CCC Leisure Park Corporation,

 

 

its General Partner

 

 

 

 

By:

/s/ David J. Hegarty

 

 

 

David J. Hegarty

 

 

 

President

 

 

 

CCDE SENIOR LIVING LLC

 

 

 

By:

/s/ David J. Hegarty

 

 

David J. Hegarty

 

 

President

 

 

 

CCOP SENIOR LIVING LLC

 

 

 

By:

/s/ David J. Hegarty

 

 

David J. Hegarty

 

 

President

 

 

 

CCC PUEBLO NORTE TRUST

 

 

 

By:

/s/ David J. Hegarty

 

 

David J. Hegarty

 

 

President

 

 

 

CCC RETIREMENT COMMUNITIES II, L.P.

 

 

 

By:

Crestline Ventures LLC,

 

 

its General Partner

 

 

 

 

By:

/s/ David J. Hegarty

 

 

 

David J. Hegarty

 

 

 

President

 

 

 

CCC INVESTMENTS I, L.L.C.

 

 

 

By:

/s/ David J. Hegarty

 

 

David J. Hegarty

 

 

President

 

6



 

 

CCC FINANCING I TRUST

 

 

 

By:

/s/ David J. Hegarty

 

 

David J. Hegarty

 

 

President

 

 

 

CCC FINANCING LIMITED, L.P.

 

 

 

By:

CCC Retirement Trust,

 

 

its General Partner

 

 

 

 

By:

/s/ David J. Hegarty

 

 

 

David J. Hegarty

 

 

 

President

 

 

 

SNH SOMERFORD PROPERTIES TRUST

 

 

 

By:

/s/ David J. Hegarty

 

 

David J. Hegarty

 

 

President

 

 

 

HRES1 PROPERTIES TRUST

 

 

 

By:

/s/ David J. Hegarty

 

 

David J. Hegarty

 

 

President

 

7



 

 

TENANT:

 

 

 

FIVE STAR QUALITY CARE TRUST

 

 

 

By:

/s/ Bruce J. Mackey Jr.

 

 

Bruce J. Mackey Jr.

 

 

President

 

 

 

FS TENANT HOLDING COMPANY TRUST

 

 

 

By:

/s/ Bruce J. Mackey Jr.

 

 

Bruce J. Mackey Jr.

 

 

President

 

 

 

FS COMMONWEALTH LLC

 

 

 

By:

/s/ Bruce J. Mackey Jr.

 

 

Bruce J. Mackey Jr.

 

 

President

 

 

 

FS PATRIOT LLC

 

 

 

By:

/s/ Bruce J. Mackey Jr.

 

 

Bruce J. Mackey Jr.

 

 

President

 

8



 

SCHEDULE 1

 

PROPERTY-SPECIFIC INFORMATION

 

Exhibit

 

Property Address

 

Base Gross Revenues
(Calendar Year)

 

Base Gross Revenues
(Dollar Amount)

 

Commencement
Date

 

Interest
Rate

 

A-1

 

Ashton Gables in Riverchase
2184 Parkway Lake Drive

Birmingham, AL 35244

 

2009

 

N/A

 

08/01/2008

 

8%

 

A-2

 

Lakeview Estates

2634 Valleydale Road

Birmingham, AL 35244

 

2009

 

N/A

 

08/01/2008

 

8%

 

A-3

 

Forum at Pueblo Norte

7090 East Mescal Street

Scottsdale, AZ 85254

 

2005

 

$

11,470,312

 

01/11/2002

 

10%

 

A-4

 

La Salette Health and

Rehabilitation Center

537 East Fulton Street

Stockton, CA 95204

 

2005

 

$

7,726,002

 

12/31/2001

 

10%

 

A-5

 

Thousand Oaks Health Care Center

93 West Avenida de Los Arboles

Thousand Oaks, CA 91360

 

2005

 

$

8,087,430

 

12/31/2001

 

10%

 

A-6

 

Skyline Ridge Nursing &

Rehabilitation Center

515 Fairview Avenue

Canon City, CO 81212

 

2005

 

$

4,104,100

 

12/31/2001

 

10%

 

A-7

 

Springs Village Care Center

110 West Van Buren Street

Colorado Springs, CO 80907

 

2005

 

$

4,799,252

 

12/31/2001

 

10%

 

A-8

 

Willow Tree Care Center

2050 South Main Street

Delta, CO 81416

 

2005

 

$

4,310,982

 

12/31/2001

 

10%

 

A-9

 

Cedars Healthcare Center

1599 Ingalls Street

Lakewood, CO 80214

 

2005

 

$

6,964,007

 

12/31/2001

 

10%

 

A-10

 

Millcroft

255 Possum Park Road

Newark, DE 19711

 

2005

 

$

11,410,121

 

01/11/2002

 

10%

 

A-11

 

Forwood Manor

1912 Marsh Road

Wilmington, DE 19810

 

2005

 

$

13,446,434

 

01/11/2002

 

10%

 

A-12

 

Foulk Manor South

407 Foulk Road

Wilmington, DE 19803

 

2005

 

$

4,430,251

 

01/11/2002

 

10%

 

A-13

 

Shipley Manor

2723 Shipley Road

Wilmington, DE 19810

 

2005

 

$

9,333,057

 

01/11/2002

 

10%

 

A-14

 

Forum at Deer Creek

3001 Deer Creek

Country Club Blvd.

Deerfield Beach, FL 33442

 

2005

 

$

12,323,581

 

01/11/2002

 

10%

 

A-15

 

Springwood Court

12780 Kenwood Lane

Fort Myers, FL 33907

 

2005

 

$

2,577,612

 

01/11/2002

 

10%

 

A-16

 

Fountainview

111 Executive Center Drive

West Palm Beach, FL 33401

 

2005

 

$

7,920,202

 

01/11/2002

 

10%

 

 



 

Exhibit

 

Property Address

 

Base Gross Revenues
(Calendar Year)

 

Base Gross Revenues
(Dollar Amount)

 

Commencement
Date

 

Interest
Rate

 

A-17

 

Morningside of Athens

1291 Cedar Shoals Drive

Athens, GA 30605

 

2006

 

$

1,560,026

 

11/19/2004

 

9%

 

A-18

 

Marsh View Senior Living

7410 Skidaway Road

Savannah, GA 31406

 

2007

 

$

2,108,378

 

11/01/2006

 

8.25%

 

A-19

 

Pacific Place

20937 Kane Avenue

Pacific Junction, IA 51561

 

2005

 

$

848,447

 

12/31/2001

 

10%

 

A-20

 

West Bridge Care & Rehabilitation

1015 West Summit Street

Winterset, IA 50273

 

2005

 

$

3,157,928

 

12/31/2001

 

10%

 

A-21

 

Meadowood Retirement Community

2455 Tamarack Trail

Bloomington, IN 47408

 

2009

 

N/A

 

11/01/2008

 

8%

 

A-22

 

Woodhaven Care Center

510 West 7th Street

Ellinwood, KS 67526

 

2005

 

$

2,704,674

 

12/31/2001

 

10%

 

A-23

 

Lafayette at Country Place

690 Mason Headley Road

Lexington, KY 40504

 

2005

 

$

4,928,052

 

01/11/2002

 

10%

 

A-24

 

Lexington Country Place

700 Mason Headley Road

Lexington, KY 40504

 

2005

 

$

8,893,947

 

01/11/2002

 

10%

 

A-25

 

Braintree Rehabilitation Hospital

250 Pond Street

Braintree, MA 02184

 

N/A

 

N/A

 

10/01/2006

 

9%

 

A-26

 

New England Rehabilitation Hospital

2 Rehabilitation Way

Woburn, MA 01801

 

N/A

 

N/A

 

10/01/2006

 

9%

 

A-27

 

HeartFields at Bowie

7600 Laurel Bowie Road

Bowie, MD 20715

 

2005

 

$

2,436,102

 

10/25/2002

 

10%

 

A-28

 

HeartFields at Frederick

1820 Latham Drive

Frederick, MD 21701

 

2005

 

$

2,173,971

 

10/25/2002

 

10%

 

A-29

 

Intentionally deleted.

 

N/A

 

N/A

 

N/A

 

N/A

 

A-30

 

Intentionally deleted.

 

N/A

 

N/A

 

N/A

 

N/A

 

A-31

 

Morys Haven

1112 15th Street

Columbus, NE 68601

 

2005

 

$

2,440,714

 

12/31/2001

 

10%

 

A-32

 

Intentionally deleted.

 

N/A

 

N/A

 

N/A

 

N/A

 

A-33

 

Wedgewood Care Center

800 Stoeger Drive

Grand Island, NE 68803

 

2005

 

$

4,000,565

 

12/31/2001

 

10%

 

A-34

 

Intentionally deleted.

 

N/A

 

N/A

 

N/A

 

N/A

 

A-35

 

Crestview Healthcare Center

1100 West First Street

Milford, NE 68405

 

2005

 

$

2,284,407

 

12/31/2001

 

10%

 

A-36

 

Utica Community Care Center

1350 Centennial Avenue

Utica, NE 68456

 

2005

 

$

1,950,325

 

12/31/2001

 

10%

 

A-37

 

Leisure Park

1400 Route 70

Lakewood, NJ 08701

 

2005

 

$

14,273,446

 

01/07/2002

 

10%

 

 



 

Exhibit

 

Property Address

 

Base Gross Revenues
(Calendar Year)

 

Base Gross Revenues
(Dollar Amount)

 

Commencement
Date

 

Interest
Rate

 

A-38

 

Franciscan Manor

71 Darlington Road

Patterson Township

Beaver Falls, PA 15010

 

2006

 

$

4,151,818

 

10/31/2005

 

9%

 

A-39

 

Mount Vernon of Elizabeth

145 Broadlawn Drive

Elizabeth, PA 15037

 

2006

 

$

2,332,574

 

10/31/2005

 

9%

 

A-40

 

Overlook Green

5250 Meadowgreen Drive

Whitehall, PA 15236

 

2006

 

$

3,878,300

 

10/31/2005

 

9%

 

A-41

 

Myrtle Beach Manor

9547 Highway 17 North

Myrtle Beach, SC 29572

 

2005

 

$

6,138,714

 

01/11/2002

 

10%

 

A-42

 

Morningside of Anderson

1304 McLees Road

Anderson, SC 29621

 

2006

 

$

1,381,775

 

11/19/2004

 

9%

 

A-43

 

Heritage Place at Boerne

120 Crosspoint Drive

Boerne, TX 78006

 

2009

 

N/A

 

02/07/2008

 

8%

 

A-44

 

Forum at Park Lane

7831 Park Lane

Dallas, TX 75225

 

2005

 

$

13,620,931

 

01/11/2002

 

10%

 

A-45

 

Heritage Place at Fredericksburg

96 Frederick Road

Fredericksburg, TX 78624

 

2009

 

N/A

 

02/07/2008

 

8%

 

A-46

 

Greentree Health &

Rehabilitation Center

70 Greentree Road

Clintonville, WI 54929

 

2005

 

$

3,038,761

 

12/31/2001

 

10%

 

A-47

 

Pine Manor Health Care Center

Village of Embarrass

1625 East Main Street

Clintonville, WI 54929

 

2005

 

$

4,337,113

 

12/31/2001

 

10%

 

A-48

 

ManorPointe - Oak Creek
Independent Senior Apartments
and Meadowmere - Mitchell
Manor - Oak Creek

700 East Stonegate Drive and

701 East Puetz Road

Oak Creek, WI 53154

 

2009

 

N/A

 

01/04/2008

 

8%

 

A-49

 

River Hills West Healthcare Center

321 Riverside Drive

Pewaukee, WI 53072

 

2005

 

$

9,211,765

 

12/31/2001

 

10%

 

A-50

 

The Virginia Health &

Rehabilitation Center

1451 Cleveland Avenue

Waukesha, WI 53186

 

2005

 

$

6,128,045

 

12/31/2001

 

10%

 

A-51

 

1005 Elysian Place

Chesapeake, Virginia

 

2012

 

N/A

 

06/20/2011

 

7.5%

 

A-52

 

Palms at St. Lucie West

501 N.W. Cashmere Boulevard

Port St. Lucie, Florida

 

2012

 

N/A

 

07/22/2011

 

7.5%

 

A-53

 

Forum at Desert Harbor

13840 North Desert Harbor Drive

Peoria, AZ 85381

 

2005

 

$

9,830,918

 

01/11/2002

 

10.0%

 

A-54

 

Forum at Tucson
2500 North Rosemont Blvd.

Tucson, AZ 85712

 

2005

 

$

13,258,998

 

01/11/2002

 

10.0%

 

 



 

Exhibit

 

Property Address

 

Base Gross Revenues
(Calendar Year)

 

Base Gross Revenues
(Dollar Amount)

 

Commencement
Date

 

Interest
Rate

 

A-55

 

Park Summit at Coral Springs
8500 Royal Palm Blvd.

Coral Springs, FL 33065

 

2005

 

$

11,229,677

 

01/11/2002

 

10.0%

 

A-56

 

Gables at Winchester
299 Cambridge Street

Winchester, MA 01890

 

2005

 

$

6,937,852

 

01/11/2002

 

10.0%

 

A-57

 

Forum at Memorial Woods
777 North Post Oak Road

Houston, TX 77024

 

2005

 

$

19,734,400

 

01/11/2002

 

10.0%

 

 



 

EXHIBIT A-53

 

Forum at Desert Harbor

13840 North Desert Harbor Drive

Peoria, AZ 85381

 

LEGAL DESCRIPTION

 



 

 



 

 



 

 



 

 



 

EXHIBIT A-54

 

Forum at Tucson
2500 North Rosemont Blvd.

Tucson, AZ 85712

 

LEGAL DESCRIPTION

 



 

 



 

 



 

 



 

EXHIBIT A-55

 

Park Summit at Coral Springs

8500 Royal Palm Blvd.

Coral Springs, FL 33065

 

LEGAL DESCRIPTION

 



 

 



 

EXHIBIT A-56

 

Gables at Winchester

299 Cambridge Street

Winchester, MA 01890

 

LEGAL DESCRIPTION

 



 

 



 

 



 

EXHIBIT A-57

 

Forum at Memorial Woods

777 North Post Oak Road

Houston, TX 77024

 

LEGAL DESCRIPTION