Property Capital Trust

Property Capital Trust, Inc. is a real estate investment trust and is an investor and owner of income producing real estate located throughout the United States. The company's business consists primarily of equity investments in completed income producing properties such as office buildings, shopping centers, apartment complexes and hotels. The company does not own directly any real estate. Its sole asset is its approximate 1% general partnership interest and approximate 32.3% common limited partnership interest in PCT LP. PCT LP currently owns one property located at 51 New York Avenue in Framingham, Massachusetts.