Real Estate Investment & Management Portfolio

United Capital Corp. owns properties that it manages, which are leased primarily as department stores, shopping centers, restaurants and office buildings throughout the United States. The shopping centers and retail outlets include properties leased to Kmart Corporation, Macy's, Ikea, and many others. Commercial properties consist of properties leased as restaurants, Midas Muffler Shops, convenience stores, and miscellaneous other properties. United Capital Corp. also owns child-care centers located in New York City, several of which are leased to the City of New York.