- 116 -
Respondent's appraisals, which were performed 11
to 13 years after EA83-XII and EA84-III acquired
the properties, reflect retail values of the
houses at 2109, 2111, 2115, and 2117 Avignon
Drive in Carrollton, the seven houses in Odessa
[viz, 1612 Hemphill Avenue, 1921 West 17th
Street, 1728 Coronado Avenue, 1700 Linda Avenue,
1716 Coronado Avenue, 1916 Hollywood Drive, and
1720 Coronado Avenue], the two houses at 5411 and
5419 Heronwood Drive in Humble, the condominium
at 4107 Medical Drive in San Antonio, the house
at 4850 W. Ferret Drive in Tucson as if the
properties were purchased separately by
individuals. [Emphasis supplied.]
Similarly, respondent's brief describes the appraisals of
the other 12 single-family houses as follows:
Respondent's appraisals, which were performed 11
to 13 years after EA83-XII and EA84-III acquired
the properties, reflect retail values for the
residences at 2113 Avignon in Carrollton, 13739
Earlywood Drive and 6402 Ridgecreek Drive in San
Antonio, and 3518 Tower Hill Lane, 12347
Northcliffe Manor Drive, 13066 Clarewood Drive,
6351 S. Briar Bayou, 12231 Carola Forest Drive,
and 12103, 12107, 12111, and 12115 Kingslake
Forest Drive in Houston as if purchased
separately by individuals. [Emphasis supplied.]
On the other hand, respondent's appraisers valued the
condominium units acquired by each partnership (other than
the condominium unit at 4107 Medical Drive) on a
"wholesale" basis; that is, as if the purchase consisted
"of multiple properties purchased in bulk sales from the
same builder." Respondent's brief states as follows:
Page: Previous 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 NextLast modified: May 25, 2011