72 existing one and two bedroom condominium units previously operated as luxury rentals. BayRock acquired the existing property from the original developer and proceed to renovate each home upon turnover; and upgrade and re-position the entire common area at an approximate cost of $30,000/unit. Each home’s kitchen and bath were substantially gutted and/or renovated to include new cabinetry, vanities, stainless steel appliances, fixtures and lighting. All common area items were upgraded. An existing tired, community room was successfully converted to a furnished, Luxury Guest Suite. This amenity was extremely popular as the Property is within a short drive to the SFO International Airport. Several homes have SF Bay views. Over 60% of the unit mix consisted of two bedroom/two bath homes. The conversion and sales program was completed in June 2007 after a rapid and highly successful sales program.