Limited Partnership Conversions and Roll-Ups Experience

A partial list of our limited partnership conversion and roll-up experience is set forth below.

The list includes three of the largest roll-ups ever to occur, including the only fully contested roll-up – Shurgard Storage Centers, Inc. - which was a successful roll-up of 17 real estate limited partnerships, notwithstanding opposition from 17 unsolicited cash tender offers and 17 consent revocation solicitations.

American Insured Mortgage Investors (AIM)
Franchise Finance Corporation of America
Heritage Cablevision Associates
Pioneer Natural Resources Co.
Polaris, Inc.
Realty Income Corporation
The Prudential – Bache Energy Partnerships
Shurgard Storage Centers, Inc.
Southwest Royalties Partnership