737296--3/31/2006--PRUDENTIAL_BACHE_WATSON_&_TAYLOR_LTD

related topics

{loan, real, estate}

{investment, property, distribution}

{cost, contract, operation}

{tax, income, asset}

{cost, regulation, environmental}

{regulation, change, law}

The liquidation of the Partnership may extend beyond the current estimate of December 31, 2006. Liquidation costs may exceed those currently recorded in the financial results of the Partnership. Environmental remediation costs may exceed those currently recorded in the financial results of the Partnership. Environmental issues with the property may limit the number of potential buyers. Market conditions, including interest rates, may have a material impact on our ability to sell this property. Our operating and financial performance and our financial condition, as well as the value of our real estate asset, are subject to the risks incidental to the ownership and operation of real estate. Future changes in the real estate market could affect the value of our property and business. There are a number of risks inherent in owning our remaining property. We may be unable to renew leases, lease vacant space or re-lease space as leases expire, which could adversely affect our business and our ability to pay distributions to our limited partners. Termination of our management arrangement could harm our business. Compliance with changing regulation of corporate governance and public disclosure may result in additional expense The Partnership is currently operating at a loss and may continue to do so, which could reduce our cash flow and funds available for future distributions to the limited partners. We are subject to environmental regulations and environmental compliance expenditures and liabilities A public market does not exist for our limited partnership Unit, therefore the limited partners may experience difficulty in selling their Units.

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737296--3/31/2006--PRUDENTIAL_BACHE_WATSON_&_TAYLOR_LTD_2