FFP Partners, L.P. is a limited partnership. FFP Real Estate Trust, a Texas real estate investment trust (the General Partner), is the sole general partner of the Company. The Company's real properties are owned and its rental activities are conducted by FFP Properties, its operating subsidiary. The Company owns a 60% partnership interest in FFP Properties and serves as its sole general partner. FFP Properties also owns a 50% limited partnership interest in Brookside Villas, Ltd. Villas, Texas real estate limited partnership. Brookside Villas was formed to purchase 35 developed lots on five acres in Austin, Texas, and to build and sell single-family homes on those lots. The sole general partner of Brookside is Admiral Construction, Inc.