Western International - Tucairri Property, LP Acquired and developed a 124-room Residence Inn by Marriott in Tucson, Arizona. This acquisition was part of a five property portfolio of hotels developed by Western International. In January 2008, the property was sold for a gain to the Fund of $0.8 million, the internal rate of return was 46.3%, and the multiple was 1.3x.

Western International - HWELP Property, LP Acquired and developed a 114-room Homewood Suites by Hilton in El Paso, Texas. This acquisition was part of a five property portfolio of hotels to be developed by Western International. In April 2008, the property was sold for a gain to the Fund of $1.0 million, the internal rate of return was 56.1%, and the multiple was 1.5x.

Western International - RI Beaumont Property, LP Acquired and developed a 133-room Residence Inn by Marriott in Beaumont, Texas. This acquisition was part of a seven property portfolio of hotels developed by Western International. In October 2008, the property was sold for a gain to the Fund of $2.0 million, the internal rate of return is 62.2%, and the multiple is 1.8x.