The purpose of this Confidential Investment Offering Overview is to provide a summary of a possible future private investment opportunity that may be made available to a certain limited number of accredited investors.  This is not an offer to sell real estate and/or any type of security, partnership interest, public or otherwise.

Investment Highlights Partnership with one of the nation’s most established and successful multi-family housing companies. Properties consist of currently leased units in North Carolina, South Carolina and Texas. BH Equities has revenues of over $200 million and nearly 20 years experience. BH Equities has partnerships with some of the largest companies in the U.S., including GE Real Estate, Covenant Capital and Northview Realty.

This Executive Summary presents an opportunity to invest in a fund sponsored by BH Equities, a real estate acquisition firm specializing in acquisitions, equity placement, and development of multi-family projects. Currently, BH Equities portfolio and management includes more than 34,000 apartment units in 17 states. BH Equities has corporate offices in Texas, Florida and Iowa, and has been involved as a principal co-developer of more than 120 partnerships to acquire or build apartment properties. Additionally, BH Equities is the 34th largest apartment manager, in terms of units, in the United States.

This project, through BH Opportunity Fund Partners IX, L.P., has been formed to co-invest with other real estate development/investment companies formed for the purpose of acquiring, renovating and owning multi-family housing properties throughout the country.

Currently, the fund has recently purchased two apartment portfolios, one in North and South Carolina, and one in Texas. The 11 property, 2,300 + unit portfolio in North and South Carolina was purchased in 2007 for $103 million. A capital investment plan of approximately $17 million in scheduled. First mortgage financing has been secured at a rate of 6.09%, interest-only for two years, then amortized over a 30-year period and with a 7-year term. BH Equities is partnering with affiliates of Covenant Capital Group and Northview Realty Company in this project. Both Covenant and Northview are real estate private equity firms with apartment community focus. This portfolio brings the number of jointly owned properties among Covenant, Northview and BH to 20. Since acquisition, the properties in North and South Carolina, as a group, have performed well. In 2007, net operating income exceeded budget, on an annualized basis, by approximately 15%.

The second portfolio of properties is currently under contract in Allen, Texas totaling 744 units in two communities for $65.75 million. BH Equities is partnering with GE Real Estate, a subsidiary of General Electric Company, to purchase these properties, and they represent the fourth and fifth multi-family housing joint ventures between GE and BH Equities. The first mortgage financing is anticipated to be provided by Freddie Mac with a term of 10 years, interest-only for 5 years then amortized over 30 years, at an interest rate below 6%.

Our investors will have the opportunity to invest $3.5 million into the BH Opportunity Fund Partners IX, L.P. Investors will receive an 8% preferred priority return on their investment in addition to a share in the profits of the communities.

In addition to these thirteen communities, the fund continues to look at acquiring additional rental properties, and has the potential to purchase several more before the fund is complete.