In 2008, U.S. Energy Corp. completed construction of a nine-building, 216-unit multi-family apartment complex in Gillette, Wyoming, which is central to a variety of large-scale regional mining operations and infrastructure construction projects. The complex contains a mix of one, two and three bedroom units and has historically had stable occupancy rates in excess of 80%. In January 2009, the Company elected to pay off its $16.8 million construction loan using internal funds instead of obtaining permanent financing. The property has historically generated revenue in excess of $200,000 per month.