Steel Drive, LLC

2040 Steel Drive was Atlanta Industrial Properties (AIP) first investment. Purchased in late 1998 this 57,166 square foot multi-tenant warehouse is located in Atlanta's Stone Mountain Industrial submarket. AIP achieved the return of 100% of investors equity in five years. The property has continued to return investors in excess of 22% on a cash on cash basis since its purchase.

Wharton Drive, LLC

400 Wharton Drive was purchased in 2000. This freestanding 21,580 square foot property is located in Atlanta's Fulton Industrial submarket. In 2002 the property was sold to a group of investors in a 1031 exchange. AIP's originial investors realized a 35% return on equity in addition to double digit cash on cash returns during the investment holding period.

Chattahoochee Partners, LLC

1122 Old Chattahoochee Avenue was purchased in early 2001. Centrally located in Atlanta's Chattahoochee Industrial District this property represented AIP's first renovation opportunity. Purchased for $33.00 per square foot this 30,300 square foot multi-tenant warehouse was cosmetically enhanced and released during the first six months of ownership.

Permanent debt was placed on the property in late 2001 based on a value of $45.00 per square foot. The property was refinanced again in 2005 at $65 per square foot. The property has annually returned investors in excess of 15% on a cash on cash basis since its purchase.

Panola Road Ventures, LLC

Panola Road Distribution Center was purchased in the fall of 2001. The project consists of six single tenant buildings totaling 118,650 square feet. The project is located in the Snapfinger Woods Industrial submarket Lithonia, GA. Purchased as a tenants in common transaction with a group of 1031 exchange buyers the project has annually returned investors cash on cash returns in excess 18%. AIP's eventually exit strategy will be to individually sell each freestanding building to "end users" to achieve the highest returns for their investors.

AIP Ventures, LLC

3401 Atlanta Industrial Parkway was purchased in 2002. This 48,000 square foot brick and block building, located in the Fulton Industrial submarket, was leased to Invacare (a multi-billion dollar international medical device company) thru the entire investment period. During the holding period the property had annually returns in excess of 25%. The project was sold in August 2006 to Multi-Stone Marble & Granite providing AIP's investors an appreciation in value of more than 28% and an IRR exceeding 29%.

Boatrock, LLC

6045 & 6055 Boatrock Blvd. was purchased in the summer of 2003. The investment consists of two brick and block warehouses totaling 140,075 square feet also located in the Fulton Industrial submarket. AIP made significant renovations to both buildings totaling approximately $350,000. Both buildings were sold to Titan Furniture in August 2004. Through utilizing a lease purchase strategy AIP was able to provide investors with both long term capital gains status as well as a 85% return on equity in just fifteen months.

Intown Properties of Atlanta, LLC

The Intown Properties portfolio was purchased in the fall of 2004. The investment originally consist of four buildings totaling 59,500 square feet. AIP made significant renovations to all three properties. AIP was able to renovate and sell one of the four properties within ninety days of purchase.

The freestanding 11,750 square foot building was purchased and renovated at a cost of $625,000 and sold for $825,000. Based on the properties pro-rata share of the portfolio AIP was able to generate a 218% return on initial equity for its clients.

The remaining assets were refinanced in 2006 and investors were returned 95% of their remaining equity in the project. The portfolio continues to provide investors double digit returns.

Perimeter Properties of Atlanta, LLC

The Perimeter Properties portfolio was purchased in the Spring of 2005. The investment which totals 91,500 square feet consist of two multi-tenant industrial properties and one 12,500 square foot vacant office building with interstate exposure.

AIP made significant renovations to the vacant office building while making minor renovations to the two industrial properties. AIP expects to sell the vacant office building while continuing to hold the two multi-tenant industrial properties totaling 79,000 square feet.

Sugar Hill Business Center, LLC

In the Summer of 2005 AIP purchased 12.7 acres of industrial property in the City of Sugar Hill, GA. The development of the site will consist of two 60,000 multi-tenant industrial buildings for sale or lease. Located on a major state highway and thoroughfare the property is approximately three miles from diamond interchanges for two US Highways I-985 and I-85. With a D.O.T traffic count in excess of 50,000 cars per day Sugar Hill Showrooms will be able to provide industrial business owners retail exposure but at warehouse pricing.

Phase I of the development was completed in July 2006. Phase II will be construction upon 50% commitment in Phase I.

Five Points Business Center – 1600 Roswell Street

Five Points Business Center was purchased in Spring 2008. The 45,960 square foot split face block building, is located in Atlanta’s northwest industrial corridor. At the time of purchase, the property was leased to a variety of small tenants in addition to Medical Specialties who occupied 50% of the building. Medical Specialties lease which expired in June 2008 was not renewed and their space was sub-divided into smaller suites of 3,500 – 7,000 square feet. AIP’s strategy was to maximize the value and increase the return of the property through achieving significantly higher rental rates for the smaller units than Medical Specialties was paying for the larger space. Based on AIP’s initial assumptions the property’s cash on cash performance will exceed 25%.

1077 Fred Drive

1077 Fred Drive was purchased in June 2008. The 105,600 square foot split face block building, is located in Atlanta’s Southside / Airport industrial corridor. At the time of purchase, the property was 100% leased to five tenants. Based on AIP’s initial assumptions the property’s cash on cash performance will exceed 15%.