| Business Summary | | Vinings
Investment
Properties
Trust,
organized
on
December
7,
1984,
is
a
mortgage
real
estate
investment
trust
(REIT).
Vinings
currently
owns,
through
wholly
owned
subsidiaries,
ten
apartment
communities
totaling
1,520
units
and
a
75,000
square
foot,
single
story
business
park.
In
addition,
Vinings
holds
a
20%
interest
in
and
is
the
general
partner
of
an
unconsolidated
joint
venture
formed
as
a
limited
partnership
(the
Joint
Venture),
which
owns
through
subsidiary
partnerships
five
additional
apartment
communities
totaling
968
units.
At
December
31,
2000,
the
average
occupancy
of
Vinings'
portfolio
was
90%. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | VIPIS
is
a
self
administered
real
estate
investment
trust
in
the
business
of
owning
and
managing
multifamily
properties.
For
the
six
months
ended
6/30/01,
revenues
fell
4%
to
$5.6
million.
Net
loss
applicable
to
Common
rose
30%
to
$1.2
million.
Revenues
reflect
decreased
occupancy
in
a
number
of
properties
as
a
result
of
certain
market
condition
changes.
Higher
loss
also
reflects
increased
utility,
advertising,
maintenance,
insurance
and
RE
tax
expenses. | More
from
Market Guide: Significant
Developments |
| Officers | |
| Position | Peter Anzo, 47 | Chairman,
Pres and Chief Exec. Officer | Stephanie Reed, 43 | VP,
Sec., Treasurer |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|