W. JOHN CARPENTER IRVING, TEXAS OFFERING SUMMARY

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1 22 50 W. JOHN CARPENTER IRVING, TEXAS OFFERING SUMMARY

2 INVESTMENT OVERVIEW HFF, L.P. has been exclusively retained by the Owner to offer qualified investors the opportunity to purchase 2250 W. John Carpenter, a 127,433 square foot, institutionally maintained Class A office building located in the office market of Dallas/ Ft. Worth. Currently 95% leased to Exeter Financial Group and the Defense Contract Audit Agency (DCAA GSA), the Property offers an average remaining lease term of 7.1 years W. John Carpenter presents investors with the opportunity to acquire a stable, cash flowing asset at a discount to replacement cost in Dallas/Ft. Worth, one of the most dynamic economies in the U.S. PROPERTY OVERVIEW Address: Submarket: Rentable Area: 2250 W. John Carpenter Freeway Irving, Texas ,433 square feet Percentage Leased: 95% Year Built: 1998 Stories: 5 Site: 8.6 acres Parking: 709 parking spaces for a parking ratio of 5.6 per 1,000 square feet. Includes a two and a half level parking garage consisting of 325 spaces. TENANCY OVERVIEW Tenant Square Feet % of Property Lease Expiration Remaining Lease Term Exeter Financial Group 93, % Aug Years DCAA 26, % Sep Years Vacant 6, % N/A N/A Other 1, % N/A N/A Total 127, % 7.1 Years HFF 2

3 INVESTMENT HIGHLIGHTS INSTITUTIONAL QUALITY ASSET WITH IDEAL HIGHWAY VISIBILITY 2250 W. John Carpenter is a 127,433 square foot, institutionally maintained Class A office building with excellent visibility and easy ingress and egress near the intersection of State Highway 114 and State Highway 161 in. Because of its central location, the Property is easily accessible from anywhere in Dallas/ Ft. Worth. Built in 1998, the Property s efficient rectangular floor plates and 5.6 per 1,000 square feet parking ratio cater to tenants of all sizes. The Property also offers floor-to-ceiling windows and structured parking in an adjacent 325-space garage. The Property is strategically located just minutes from DFW International. STABLE IN-PLACE CASH FLOW Currently 95% leased to Exeter Financial Group and the Defense Contract Audit Agency (DCAA-GSA), 2250 W. John Carpenter possesses an average remaining lease term of 7.1 years. In addition to significant lease term, the Offering provides an investor with stable cash flow given the credit nature of the tenancy. Additional credit support is available through a $1.9 million letter of credit through Exeter. DISCOUNT TO REPLACEMENT COST & BELOW MARKET RATES The offering presents a unique opportunity to acquire a long-term leased asset at a significant discount to replacement cost which is estimated to be in excess of $250 per square foot. Additionally, the in-place rental rates are 19% below market upon rollover providing significant upside upon lease expiration. LAS COLINAS OFFICE MARKET The office market is one of Dallas/Ft. Worth s top suburban submarkets. The area experienced over 1.1 million square feet of positive absorption in the last 12 months equating to roughly 15% of the total DFW amount. Fortune 1000 companies that are headquartered in include Exxon Mobil, Kimberly Clark, Celanese, Fluor, and Pioneer Natural Resources. The area has continued to add to the already impressive list of global firms that call home. WEST LBJ/OFFICE CETNER RENTAL RATES AND OCCUPANCY 98.0% $ % $ % $ % $ % $ % $ % 2250 W. John Carpenter is located in the Office Center/West LBJ submarket of. As of first quarter 2016, Class A buildings in the submarket had an average occupancy of 92.3%, and experienced rent growth of 6% in 2015 to $27.01 per square foot full service through first quarter % 82.0% 80.0% Q1 Submarket Class A Occupancy Submarket Class A Rental Rate $22.00 $21.00 $20.00 HFF 3

4 LAS COLINAS LOCATION is a 12,000 acre, master-planned development in the center of DFW immediately adjacent to the DFW International. The market is a preferred location for corporate users due to its central location, diverse amenity base and abundant residential options. Gables broke ground on the Water Street development in the fall of The development will feature 340 multifamily units and 60,000 square feet of retail on the north shore of Carolyn. The Irving Music Factory is a state-of-the-art $165 million development scheduled to open late The development will feature multiple outdoor stages, an open plaza and a large 8,000-seat amphitheater. Over 1,500 new single family homes and approximately 2,500 multi-family units either planned or under construction. Hines is developing the Parkside and Bridges at neighborhoods next door and across the highway from the Property. Downtown Dallas Irving Convention Center Irving Music Urban Center Factory Galleria Exxon Mobile Zales Oracle Goldman Sachs Microsoft TXU Energy Office Center ge Bush Turnpik e McKesson Caliber Home Loans, Inc. PDS Tech HD Vest Bell Sports W. J O H N C A R P E N T E R I RV I N G, T E X AS On The Border Circl Cam pus 2250 e Dr.E Right Source LifeSynch 11 4 Maxim Semiconductor Facility ay ne St at eh ig hw l La ya Ro Four Seasons Resort & Club at Nokia Epsilon President Geor Hackberry Creek 1,263 Homes Christus Health La Quinta Inn Hines Bridges at Single Family Development (399 lots) Hines Parkside East Single Family Development (250 lots) Lufthansa Conexis

5 HASLET SAGINAW TOVER LLS TRAIL KWY. P CHISHOLM Fort Worth Meacham CROWLEY Fort Worth Alliance FORT WORTH CBD BELT JUNCTION EDGECLIFF VILLAGE BURLESON WATAUGA ROANOKE KELLER HALTOM CITY NORTH RICHLAND HILLS TROPHY CLUB SOUTHLAKE COLLEYVILLE BEDFORD HURST FLOWER MOUND Grapevine ARLINGTON MANSFIELD GRAPEVINE EULESS ADDITIONAL INFORMATION DALWORTHINGTON GARDENS COPPELL Dallas/Fort Worth International If you have any questions or require additional information, please contact the individuals below. FOREST HILL 20 ANDREW LEVY Senior Managing Director alevy@hfflp.com TODD SAVAGE Managing Director tsavage@hfflp.com ELIZABETH MALONE Director emalone@hfflp.com CHRIS MURPHY Associate Director cmurphy@hfflp.com ADAM KRAUS Real Estate Analyst akraus@hfflp.com For questions regarding debt structures on this property, please contact: CAMPBELL ROCHE Director croche@hfflp.com W. JOHN CARPENTER IRVING, TEXAS North CARROLLTON FARMERS BRANCH LAS COLINAS IRVING GRAND PRAIRIE CEDAR HILL DUNCANVILLE Addison DALLAS LOVE FIELD AIRPORT DALLAS OAK CLIFF TURNPI BUSH K GEORGE PRESIDENT E DE SOTO ADDISON DALLAS NORTH TOLLWAY Preston Hollow University Park Highland Park Uptown CBD 20 wood Highlands PLANO RICHARDSON 45 LANCASTER White Rock HUTCHINS 2323 Victory Avenue, Suite 1200 Dallas, TX Telephone: Facsimile: GARLAND 45 M M BALCH SPRINGS HFF has been engaged by the owner of the property [properties] to market it [them] for sale. Information concerning the property [properties] described herein has been obtained from sources other than HFF, and neither Owner nor HFF, nor their respective equity holders, officers, employees and agents makes any representations or warranties, express or implied, as to the accuracy or completeness of such information. Any and all reference to age, square footage, income, expenses and any other property specific information are approximate. Any opinions, assumptions, or estimates contained herein are projections only and used for illustrative purposes and may be based on assumptions or due diligence criteria different from that used by a purchaser, and HFF, its partners, officers, employees and agents disclaim any liability that may be based upon or related to the information contained herein. Prospective purchasers should conduct their own independent investigation and rely on those results. The information contained herein is subject to change.