In Houston, Blenheim, completed in 2000, offers 156 units and a total square footage of 136,512. As of Jan. 31, Blenheim was 92% occupied. In Port Arthur, TX, Farnham Park, completed in 1999, offers 144 units and a total square footage of 126,252. As of Jan. 31, Farnham Park was 99% occupied.

In Beaumont, TX, Chelsea offers 144 units and measures 126,252 sf. As of Jan. 31, it was 99% occupied. In Brownsville, TX, Las Palmas, completed in 2003, consists of 144 units and has a total square footage of 117,816. It is 94% occupied.

In Harlingen, TX, Reata has 144 units with a total square footage of 116,220. Reata was 97% occupied. In McAllen, TX, Rincon, completed in 2002, offers 232 units and a total square footage of 189,440. It is 93% occupied.

In Baton Rouge, LA, the 99%-occupied Live Oaks offers 184 units and a total square footage of 159,128. And Lakeside offers 224 units and a total square footage of 189,044. It is 98% occupied. Completed in 2000, River Oaks, in Lake Charles, LA, offers 176 units and a total square footage of 156,472. As of Jan. 31, it was 99% occupied.

Gamble adds that the portfolio offers "an excellent platform to capitalize on opportunities for growth inherent to this part of the country including the strength of the oil and gas industry and expansion of the area's refining capacity; the importance of Gulf Coast area ports to national commerce; and the economic benefits of Nafta to the region."

Russell Vandenburg, president and CEO of EPT Management Co,, TVO's management affiliate, says, "Post-Katrina, this area has seen an influx of evacuees, a reshuffling of business operations to these submarkets, and a decline in available hotel rooms. These factors, and others, have resulted in an immediate increase in demand for multifamily properties, which is expected to continue as job growth is fueled in the area by post-Katrina rebuilding efforts."

Prescott Capital is an affiliate of the Prescott Group. In November 2004, Prescott Group and the Gordon P. Getty Family Trust partnered on an initiative to target more than $400 million of real estate acquisitions on behalf of private investors. Prescott Capital Management was newly created at the time. Prescott Group is a real estate merchant banking firm specializing in private client ventures. The firm also has an alliance with FREO GmbH of Bad Homburg, Germany to target investment in North American real estate assets and develop strategic relationships with selected US institutions and investment groups seeking to increase their investment in property located throughout Europe.