content_image/105716.jpg
<img src='content_image/105716.jpg'>

* Supplemental discussion of non-cash investing and financing activities: The $79,105,000 shown as 2004 real estate acquisitions does not include $18,025,000 in total assumed mortgages for 2 of the properties acquired as the assumption of these mortgages was a non-cash acquisition cost. On February 13, 2004, the Company purchased Boca Valley Plaza for an acquisition cost of $17,678,000 and assumed a mortgage in the amount of $9,200,000 with the balance being paid in cash. On March 25, 2004, the Company purchased Cruse MarketPlace for an acquisition cost of $12,897,000 and assumed a mortgage of $8,825,000 with the balance being paid in cash. For 2002, the $29,226,000 figure does not include $7,806,000 in an assumed mortgage of an acquisition cost of $14,300,000 on September 8, 2002 of the Company’s Kentlands Square property with the balance being paid in cash. 

