AGREEMENT OF JOINT FILING

EXHIBIT 7.1

AGREEMENT OF JOINT FILING

     The parties listed below agree that the Amendment No. 37 to Schedule 13D to which this agreement is attached as an exhibit, and all further amendments thereto, shall be filed on behalf of each of them. This Agreement is intended to satisfy Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

Dated: July 26, 2011

		AIMCO PROPERTIES, L.P.
		By:		AIMCO-GP, INC.,
				Its General Partner
		AIMCO-GP, INC.
		APARTMENT INVESTMENT AND
		MANAGEMENT COMPANY
		AIMCO IPLP, L.P.
		By:		AIMCO/IPT INC.,
				Its General Partner
		AIMCO/IPT INC.
		XXXXXX RIVER PROPERTIES, L.L.C.
		MADISON RIVER PROPERTIES, L.L.C.
		By:		/s/ Xxxxx X. Xxxxxxx
				Name:		Xxxxx X. Xxxxxxx
				Title:		Vice President and
						Assistant General Counsel