Located in a Federal Enterprise Zone, Agua Mansa is a 200 acre development of improved industrial land bordering Riverside and San Bernardino Counties.  Prior to our purchase of the land, the property was bank-owned and languished due to environmental problems, expensive bonds, and political issues.  Genesis and Lowe Enterprises have implemented a strategy to refinance the bonds, resolve environmental issues and bring tenants and jobs to this infill area.  Genesis committed $10 million of equity in anticipation of performing some speculative development to "seed" the project. However, demand from users for land has been so great that no speculative development was required.  An independent job study report estimates 2,400 jobs on the site upon build-out. The vast majority of this project was sold in December 2004, with only a few acres still being retained by the Fund.