1073149--3/29/2006--CORNERSTONE_REALTY_FUND

related topics

{tax, income, asset}

{investment, property, distribution}

{loan, real, estate}

{cost, regulation, environmental}

{loss, insurance, financial}

{debt, indebtedness, cash}

{interest, director, officer}

We may not generate sufficient cash for distributions. Our managing member, its affiliates, and its officers also have management responsibilities to other entities. We may not be able to purchase desirable income-producing properties on purchase terms that will be economically attractive Multi-tenant industrial properties accommodating small business tenants have a substantial on-going risk of tenant lease defaults. Risks we do not control will affect the value of our properties We may experience uninsured losses on our properties We may be subject to environmental liabilities We will not seek any rulings from the Internal Revenue Service regarding any tax issues If we lose our partnership status we would be taxed as a corporation The IRS may challenge our allocations of income, gain, loss, and deduction. The IRS may disallow deduction of fees and expenses or reallocate basis. Future events may result in federal income tax treatment of us and our unitholders that is materially and adversely different from the current tax treatment.

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1073149--3/29/2006--CORNERSTONE_REALTY_FUND_LLC