Thank you for your explanation.

I think it was the loan principal of property one that made me to have trouble to understand the whole example. So, the remaining cash of $22000 is actually from the equity of the property one, right?

Thank you Mel and Kay.
The OTP I’m looking at is going to be completed in March 2005. What I like about it is its price (more reasonable than other developments), good location, and no facilities (no pool and no gym). Does anyone know about corporate lease? leasing units to a company for them to use. What is the process to get a lease like that?