The 43 conventional properties in G & K Industries real estate portfolio are located throughout California and are dominated by a few large, luxury apartment properties such as the Capri Apartments and 272-unit Dolphin Apartments in Marina Del Rey, the 391-unit Grand Promenade Tower, the 595-unit Promenade Towers and 217-unit Museum Tower in downtown Los Angeles, the 221-unit Colonnade in San Jose, the 212-unit Museum Terrace in Los Angeles, and the 192-unit Market Street Square in San Diego.

The conventional properties were over 98% occupied at December 31, 2004. Some of these properties can be converted to condos in the future and have recorded tract maps. Also included in the conventional property portfolio are 25 formerly subsidized properties that have been converted from government subsidized to conventional rate properties.