Cornerstone Properties Inc. - CPP- Profile

Cornerstone Properties Inc. is a self-administered equity real estate investment trust company. The company through its subsidiaries owns interests in 83 Class A office properties. Properties of the company are located in 9 major metropolitan cities in the United States. Other activities of the company include investing in real estate mortgages or securities collateralized by such mortgages. In 1998, the company converted its corporate structure into an umbrella limited partnership REIT, in which, the company owns approximately 87.1% of the common units of partnership interest as of March 2000. Rental income accounted for 99% of 1999 revenues and interest and other income, 1%.