Company Information

Home Properties, the sixth largest publicity traded apartment company in the United States, is a real estate investment trust (REIT) with operations primarily along the East Coast of the country. It is a self-administered and self-managed real estate investment trust ("REIT") that owns, operates, acquires, develops and rehabilitates apartment communities. The Company's properties are regionally focused primarily in select Northeast, Mid-Atlantic and Southeast Florida markets of the United States.

The Company was formed in November 1993 as a Maryland corporation and is the general partner of the Operating Partnership. On December 31, 2006, it owned a 72.8% interest in the Operating Partnership – one percent as sole general partner and the remainder as a limited partner through its wholly owned subsidiary, Home Properties I, LLC, which owns 100% of the limited partner, Home Properties Trust. The Operating Partnership is a New York limited partnership formed in December 1993. HPRS is and HP Management was, prior to its merger into HPRS in November 2006, a wholly owned subsidiary of the Company, and as a result the accompanying consolidated financial statements include the accounts of both companies.