Question-and-Answer Session
Thank you sir. Ladies and gentlemen, we will now begin the question-and-answer session. [Operator Instructions]. Our first question comes from Michael Bilerman with Citigroup. Please go ahead.
Craig Melcher - Citigroup
Hi, it's Craig Melcher here for Michael. Can you talk a bit on the, who were the sellers of assets that you acquired so far in the first quarter?
Thomas W. Toomey - President and Chief Executive Officer
Mark you want to...
W. Mark Wallis - Senior Executive Vice President
Yes, I mean. I can give you some general information, sort of respecting some of their wishes on disclosure. The asset in San Francisco was the part of [inaudible] sold developer there? in private developer in San Francisco. And? let me go through this list here, the one in Shirlington Village, another local private owner there, Towson Town Center was a group that had acquired this asset? another private group acquired the asset of probably about 10 years ago, and it’s operating that themselves and it has nothing? a smaller management company there. Legacy apartment homes may be familiar with [inaudible] property, which was actually part of the original Columbus REIT, great developer down there, excellent product. Then, the place in [inaudible] was a?
Craig Melcher - Citigroup
Okay. Do you have a blended cap rate on the acquisitions that you did and also the acquisitions that you're planning on of next few months.
Thomas W. Toomey - President and Chief Executive Officer
Yes. The blended cap rate is probably going to be in the half works [ph].
Craig Melcher - Citigroup
That's current or...
W. Mark Wallis - Senior Executive Vice President
That's current.
Craig Melcher - Citigroup
And where do you...
W. Mark Wallis - Senior Executive Vice President
[inaudible] outside that number obviously as we some REITS have got some lease upside and some management upside.
Craig Melcher - Citigroup
And so high 4s on the existing ones you bought and on those targeted ones that you're anticipating that other 350 to 400?
W. Mark Wallis - Senior Executive Vice President
Yes.
Thomas W. Toomey - President and Chief Executive Officer
And Craig, just to clarify that that is net of CapEx so...
W. Mark Wallis - Senior Executive Vice President
Right.
Thomas W. Toomey - President and Chief Executive Officer
So, the actual FFO impact could be higher than that,
W. Mark Wallis - Senior Executive Vice President
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