Acquisitions are targeted for a minimum spread of 100 basis points, with a typical holding period of three to five years.           Acquisition JPI has adopted a very discriminating acquisition philosophy designed to identify select opportunities that meet the profile of JPI's investment criteria. Potential acquisitions are targeted toward well-located, under-performing projects that can be obtained from motivated sellers. An extensive database which has been developed and maintained on literally thousands of apartments is a key component to the comprehensive system which enables JPI to identify and effectively pursue investment grade opportunities. As a result of JPI's in-depth knowledge of the marketplace and its proven ability to perform, JPI is afforded the opportunity to get a look at the best communities which the market has to offer. Acquisitions are targeted for a minimum spread of 100 basis points, with a typical holding period of three to five years.    BEFORE JPI design and construction services are provided in the rehab of existing apartment communities. AFTER