The Heights Apartments:  This 104 unit apartment complex located at 230-409 N. Irving Heights in Irving, Texas was purchased by Gillean Properties LLC in October, 2001 for $1,250,000 plus closing costs.  To date the current operating statement reflects total capital expenditures of $1,302,603 through May, 2002.  All improvements were performed in-house and as a result represent upgrades and long-term enhancements to the property.  An original equity investment of $350,000 was made with an initial funding from Colonial Bank of $950,000.  Since closing an additional $400,000 was drawn down from Colonial Bank and an additional $902,603 out-of-pocket capital investment was made for rehab/upgrades for a total rehab of approximately $1,302,603 to date.  Including the additional $100,000 draw for landscape and parking improvements, a total project cost of $2,702,603 is projected.  Monthly collections at the property have increased from $49,000 to $65,000, a 32.65% increase in less than six months.