SOUTHWEST RETAIL PORTFOLIO 400,000+ SF RETAIL OPPORTUNITY PHOENIX, SAN ANTONIO, HOUSTON EXECUTIVE SUMMARY TORREY SQUARE MARKETPLACE AT CENTRAL

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1 MARKETPLACE AT CENTRAL TORREY SQUARE WINDSOR PARK SOUTHWEST RETAIL PORTFOLIO 400,000+ SF RETAIL OPPORTUNITY PHOENIX, SAN ANTONIO, HOUSTON EXECUTIVE SUMMARY Holliday Fenoglio Fowler, L.P. ("HFF") a licensed Arizona real estate broker. Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp a Texas licensed real estate broker ( HFF ).

2 SOUTHWEST RETAIL PORTFOLIO Portfolio summary Holliday Fenoglio Fowler ( HFF ) is pleased to offer for sale the Southwest Retail Portfolio comprising three regional shopping centers and a Right of First Offer to purchase a fourth center totaling 443,541 square feet. The offering represents a rare opportunity to acquire a critical mass of retail projects with best in class tenants located in top performing metro areas. Walmart and Ross Anchored Portfolio The portfolio represents a unique opportunity to acquire three retail shopping centers totaling 413,354 SF in Texas and Arizona plus an option on a 4th Ross Box. Strong population and employment growth make these two states some of the most sought after retail markets in the country. The ability to establish or expanse a presence with a portfolio, anchored by Ross and Walmart of this scale is rare. PROPERTY LOCATION GLA % OF TOTAL OCCUPANCY ANCHORS PROJECTED CAGR 3-MILE POPULATION 3-MILE HH INCOME Windsor Park San Antonio. TX 196,458 44% 96.6% Ross, Petsmart, Burke's 3.04% 100,595 $60,320 Torrey Square Houston, TX 105,766 24% 87.1% DD's Discount, Family Dollar 2.17% 113,790 $82,120 Marketplace at Central Phoenix, AZ 111,130 25% 97.2% Walmart, Ross, Dollar Tree 6.76% 118,567 $66,866 Subtotal 413,354 93% 94.3% 3.47% 110,984 $69,769 Fulton Ranch Towne Center (Option) Phoenix, AZ 30,187 7% 100% Ross TOTAL / AVERAGE 443, % MARKETPLACE AT CENTRAL WINDSOR PARK TORREY SQUARE PHOENIX FULTON RANCH TOWNE CENTER SAN ANTONIO HOUSTON 2

3 SOUTHWEST RETAIL PORTFOLIO Strong and Secure Income Stream Strong Weighted Average Lease Term: Anchors and grocers have a weighted average lease term of approximately 5.4 years and 6.7 years, respectively. Significant NOI Growth The Portfolio benefits from a steady aggregate NOI stream that is projected to grow 40%, or 4% each year, over the next 10 years. NOI GROWTH CHART $6,000,000 $5,000,000 $4,000,000 $3,000,000 42% NOI Growth, 4.2% Per Annum Premier Retail Tenant Mix and Merchandising Strategy The Portfolio has an exceptional retail line-up with 74% of the GLA comprised of National/ Regional retailers. In addition, no single tenant accounts for more than 10% of the Portfolio s cash flow. Unencumbered Portfolio Local 26% Regional 20% National 54% The Portfolio is being offered free and clear of any existing financing. The current capital markets environment provides the ability to drive cash flow yields via generationally low borrowing costs. Flexible Offering Portfolio summary The Ownership prefers to sell as a portfolio but will look at groups or individual assets. $2,000,000 $1,000,000 $0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Premier Tenant Base Ross and Walmart are best in class retailers that hold investment grade credit of A3 and Aa2 respectively. The two tenants comprise approximately 29.7% of the portfolio and serve as destination retailers that attract customers to the retail centers. 3

4 Windsor Park CENTRE San Antonio, Texas

5 Windsor Park CENTRE Aerial Photograph SAN ANTONIO CBD HEAD QUARTERS 6,500 EMPLOYEES ROOSEVELT HIGH SCHOOL WALZEM ROAD WINDSOR PARK 410 IH COWBOYS DANCE HALL NEW CREATION CHRISTIAN FELLOWSHIP 5

6 Torrey Square Houston, Texas 6

7 Torrey Square RIA LD R Aerial Photograph VE TE RA NS ME MO NORTHLAND CHRISTIAN SCHOOL L BAMME NORTH ON RD HOUST (NAP) TORREY SQUARE (NAP) (NAP) MR. SELF STORAGE 7

8 Marketplace at Central Phoenix, arizona 8

9 MarketPLACE at Central Aerial Photograph DOWNTOWN PHOENIX 10-MILE DRIVE FROM PROPERTY CENTRAL AVENUE (13,500 VPD) MARKETPLACE AT CENTRAL SUNNYSLOPE HIGH SCHOOL 2,000+ STUDENT ENROLLMENT HONOR HEALTH JOHN C. LINCOLN MEDICAL CENTER 255-BED, FULL-SERVICE HOSPITAL 2,000+ EMPLOYEES DUNLAP AVENUE (26,500 VPD) 9

10 CONTACT INFORMATION HOUSTON SAN ANTONIO PHOENIX RUSTY TAMLYN, CCIM, SIOR Senior Managing Director T JOHN TAYLOR Managing Director T CJ OSBRINK Managing Director T HFF L.P. 9 Greenway Plaza RYAN WEST Senior Managing Director T rwest@hfflp.com DREW FULLER Director T dfuller@hfflp.com SHANE ESSERT Real Estate Analyst T sessert@hfflp.com Suite 700 Houston, TX T F JOHN INDELLI Associate T jindelli@hfflp.com PATRICK MCCORD Real Estate Analyst T pmccord@hfflp.com NICHOLAS RAY Real Estate Analyst T nray@hfflp.com hfflp.com JOHNNY KIGHT Real Estate Analyst T jkight@hfflp.com BENTLEY SMITH Real Estate Analyst T bsmith@hfflp.com FOR FINANCING INQUIRIES HOUSTON & SAN ANTONIO MICHAEL JOHNSON Director T mjohnson@hfflp.com PHOENIX JEREMY WOMACK Senior Managing Director T jwomack@hfflp.com Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, HFF ), HFF Securities L.P. and HFF Securities Limited (collectively, HFFS ) are owned by HFF, Inc. (NYSE: HF). HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. For more information please visit hfflp.com or follow HFF on