12 FOUNDERS BLVD., EL PASO, TEXAS OFFERING MEMORANDUM

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Offered Exclusively by BROKERAGE TEAM WILLIAM CAPARIS First Vice President +1 915 313 8804 bill.caparis@cbre.com JONATHAN BRYAN Senior Vice President +1 214 979 6304 jonathan.bryan@cbre.

2 Offered Exclusively by BROKERAGE TEAM WILLIAM CAPARIS First Vice President JONATHAN BRYAN Senior Vice President DEBT & EQUITY FINANCE EXPERT SCOTT LEWIS Senior Vice President Affiliated Business Disclosure CBRE, Inc. operates within a global family of companies with many subsidiaries and related entities (each an Affiliate ) engaging in a broad range of commercial real estate businesses including, but not limited to, brokerage services, property and facilities management, valuation, investment fund management and development. At times different Affiliates, including CBRE Global Investors, Inc. or Trammell Crow Company, may have or represent clients who have competing interests in the same transaction. For example, Affiliates or their clients may have or express an interest in the property described in this Memorandum (the Property ), and may be the successful bidder for the Property. Your receipt of this Memorandum constitutes your acknowledgement of that possibility and your agreement that neither CBRE, Inc. nor any Affiliate has an obligation to disclose to you such Affiliates interest or involvement in the sale or purchase of the Property. In all instances, however, CBRE, Inc. and its Affiliates will act in the best interest of their respective client(s), at arms length, not in concert, or in a manner detrimental to any third party. CBRE, Inc. and its Affiliates will conduct their respective businesses in a manner consistent with the law and all fiduciary duties owed to their respective client(s). Confidentiality Agreement Your receipt of this Memorandum constitutes your acknowledgement that (i) it is a confidential Memorandum solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property, (ii) you will hold it in the strictest confidence, (iii) you will not disclose it or its contents to any third party without the prior written authorization of the owner of the Property ( Owner ) or CBRE, Inc., and (iv) you will not use any part of this Memorandum in any manner detrimental to the Owner or CBRE, Inc. If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return it to CBRE, Inc. Disclaimer This Memorandum contains select information pertaining to the Property and the Owner, and does not purport to be all-inclusive or contain all or part of the information which prospective investors may require to evaluate a purchase of the Property. The information contained in this Memorandum has been obtained from sources believed to be reliable, but has not been verified for accuracy, completeness, or fitness for any particular purpose. All information is presented as is without representation or warranty of any kind. Such information includes estimates based on forward-looking assumptions relating to the general economy, market conditions, competition and other factors which are subject to uncertainty and may not represent the current or future performance of the Property. All references to acreages, square footages, and other measurements are approximations. This Memorandum describes certain documents, including leases and other materials, in summary form. These summaries may not be complete nor accurate descriptions of the full agreements referenced. Additional information and an opportunity to inspect the Property may be made available to qualified prospective purchasers. You are advised to independently verify the accuracy and completeness of all summaries and information contained herein, to consult with independent legal and financial advisors, and carefully investigate the economics of this transaction and Property s suitability for your needs. ANY RELIANCE ON THE CONTENT OF THIS MEMORANDUM IS SOLELY AT YOUR OWN RISK. The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions at any time with or without notice to you. All offers, counteroffers, and negotiations shall be non-binding and neither CBRE, Inc. nor the Owner shall have any legal commitment or obligation except as set forth in a fully executed, definitive purchase and sale agreement delivered by the Owner. CBRE National Partners 221 N. Kansas Street Suite 2100 El Paso, Texas O: F: CBRE National Partners operate under a partnership model to deliver superior strategy and execution over the industrial property life cycle. Located in the five key logistics hubs of Los Angeles, Dallas, Chicago, Atlanta and Philadelphia, these 50 investment sales and support professional connect local market insight to a national capital markets perspective. Enhanced by a fully integrated debt platform and CBRE s network of more than 950 industrial leasing professionals, the National Partners team is able to achieve remarkable results for their national, regional and local clients. In 2016, the team successfully completed transactions totaling 132 million square feet with an aggregate value of $9.7 billion. Please visit our Website at: Property Website

3 THE OFFERING CBRE, Inc. is pleased to offer for sale to qualified investors the opportunity to purchase a leasehold interest, subject to ground lease, in the Class A call center property located at 12 Founders Boulevard in El Paso, Texas (The Property). The Property consists of a 100% leased, single tenant / single story 100,240 net rentable square foot 90+% office finish building, situated on approximately 7.47 acres. The Property is 100% leased to Pacific Union Financial, LLC, on a new seven (7) year term, commencing on February 1st, In connection with executing a new lease, the property will see substantial capital improvements totaling $600,000. TRANSACTION TIMETABLE & PROCEDURE CBRE is exclusively marketing 12 Founders Blvd. to a select group of qualified investors. The prospective investor will be selected by the Seller in consultation with CBRE. Interested investors should submit to CBRE a detailed Letter of Intent which, at minimum, should include: (a) proposed pricing; (b) a description of the approval process; (c) due diligence and closing timing; and (d) earnest money deposit amounts. The Seller and CBRE will select certain investors, based on information submitted, to participate in the interview process. The Argus cash flow models for 12 Founders Blvd. assume a fiscal year beginning February A detailed rent roll, cash flow assumptions / projects and other financial information are contained in the Financial Information packet, which will be available upon execution of the Confidential Agreement or by contacting Hannah Fierce at Hannah.fierce@cbre.com PURCHASE PRICE: Unpriced 12 Founders Blvd. is being offered without an asking price. Buyers should base their offers on an as is and where is condition of the property. INVESTMENT HIGHLIGHTS: New 7-Year Lease 100% leased to Pacific Union Financial for the next 7+ years, with two (2) five (5) year options to renew. Stable Call Center Market The El Paso call center market is 100% occupied, with continued high demand, and no availability. Additionally, the Property has never been vacant since it was built. The most recent lease was negotiated with 0 downtime. Strategic Location The Property is centrally located in the El Paso market in the Butterfield Trail Business Park, adjacent to the El Paso International Airport. No Capital Expenditures Required Built in 1984, and renovated in 1994, 1997, and now again as part of this new lease, the Property has seen on-going capital improvements throughout its life as a call center. Ownership Interest Leasehold, subject to a 40-year ground lease with the City Of El Paso. The ground lease commenced in July of 2016, and has two (2), five (5) year renewal options.

4 Lease Abstract Tenant Address Pacific Union Financial, LLC 12 Founders Boulevard, El Paso, Texas Commencement Date 02/01/18 Lease Termination Date 03/31/25 Square Footage Rent Schedule / Escalations: 2017 Operating Expenses (Paid by Tenant) ± 100,240 sq. ft. Months PSF Monthly Rent Annual Rent Months 01-02: Free - - Months 03-12: Months 13-24: Months 25-36: Months 37-48: Months 49-60: Months 61-72: Months 73-86: $11.25 PSF (33,000 sq. ft.) $11.50 PSF (63,000 sq. ft.) $11.75 PSF (100,240 sq. ft.) $12.00 PSF (100,240 sq. ft.) $12.25 PSF (100,240 sq. ft.) $12.50 PSF (100,240 sq. ft.) $13.00 PSF (100,240 sq. ft.) $30, $309, $60, $724, $98, $1,177, $100, $1,202, $102, $1,227, $104, $1,253, $108, $1,303, Annual PSF / Yr. Property Taxes: $153, $1.53 PSF Ground Lease: $78, $0.78 PSF Insurance: $6, $0.07 PSF Total: $238, $2.37 PSF Abstract of Underlying Ground Lease Lessor City of El Paso (As owner and opperator of El Paso International Airport) Term 40 years, commenced 07/31/16 Renewal Options Two (2), Five (5) year renewal options Annual Rent $78, Rent Increases Every five years based on CPI-U Increases Tenant Profile Pacific Union Financial, LLC is a nationwide residential lender headquartered in Irving, Texas. The executive management team has a combined 100+ years of expertise in the mortgage industry and over 1,700 employees, across the company s multiple offices located in California, Texas, North Carolina and Virginia. As a Fannie Mae, Freddie Mac and Ginnie Mae direct lender, Pacific Union Financial securitizes and services their own loans, which allows for faster turn-times, world class service and highly competitive products to their customers and partners. Company Highlights + $16.5 Billion funded in $25 Billion servicing portfolio + Ranked #5 by Scotsman Guide in Ranked #10 of the top 100 mortgage companies by Mortagage Executive Magazine in Top 10 FHA Sponsored Originator + 11th Largest Independent Originator + Licensed in 49 states NOTE: Tenant is responsible for 100% of operating expenses, from day one of the lease term.

4/1000 SF + Roof replaced in October 2011 Roof is under warranty + HVAC - Building is 100% air conditioned + Thermal energy efficient windows / aluminum frames + Fire

5 PROPERTY SPECS + ± 100,240 Sq. Ft. / single story + Call center ready + Building has been operated as a call center for 20+ years + ± 7.47 acres of land area + Year built Years renovated / 1997 / surface parking spaces + Parking ratio - 5.4/1000 SF + Roof replaced in October 2011 Roof is under warranty + HVAC - Building is 100% air conditioned + Thermal energy efficient windows / aluminum frames + Fire Protection - 100% sprinklered + Electrical Service & Metering - Building is served through low voltage power lines. Service is 1600 AMP, 277/480 volt, 3 phase. Building has a master meter. + Excellent access to all public transportation available in the city of El Paso

6 Site / Floor Plan Site Plan Floor Plan EXISTING BUILDING 100,240 SQ. FT. North North

7 AIRPORT AIRPORT RD. LEIGH LEIGH FISHER FISHER BLVD. BLVD. Aerial Photo FOUNDERS BLVD. WALTER JONES BLVD. SUBJECT PROPRERTY BUTTERFIELD TRAIL BLVD. LEIGH FISHER BLVD. BUTTERFIELD TRAIL BUSINESS PARK

8 Area Map Ideal Office Location Located centrally in East El Paso, just south of El Paso International Airport and Fort Bliss Military Base. Cordova International Bridge provides direct access to Mexico fifteen minutes away.

9 Area Information + + Combined population of over 2.5 million residents in El Paso, Juarez & Las Cruces + + El Paso - Fifth largest city in Texas - Nineteen largest city in United States + + El Paso is distinguished by ranking as the #1 safest city in the United States. + + Major metropolitan center + + Top location for call center operations + + Major transportation hub-interstate 10, (2) Railroad and (2) International Airports + + Two Universities - University of Texas at El Paso and New Mexico State University + + New Medical and Nursing Schools + + Extremely favorable cost-of-living index. + + Abundant cultural and entertainment opportunities: Year-round sports and outdoor recreation New AAA Baseball Park, AAA Team and downtown entertianment El Paso, Texas Call Center Advantages + + Dense concentration of call center / customer service operations in the area + + Large bi-lingual workforce + + Highly competitive wage rates & dependable workforce + + Source of Labor: Fort Bliss Military Port 14 universities / colleges in the region + + Mountian Time Zone + + Excellent year round climate with 300+ days a year of sunshine + + Reliable power grid Site Demographics* Population 1 Mile 3 Miles 5 Miles Households Housing *Source Date: 01/25/ Total Population: 6,826 47, , Population: 7,334 48, , Annual Pop. Growth Rate 1.45% 0.53% 0.43% Average Age: Total Households Annual HH Growth Rate 2017 Median HH Income: 2017 Avg. HH Size: 2017 Median Home Value: ,564 66, % 0.61% 0.49% $71,211 $50,070 $48, $165,000 $101,629 $100, Broad telecomunications / fiber-optic networks

Location Overview El Paso Market El Paso is the sixth-largest city in the state of Texas, located at the western tip where Texas meets New Mexico and forms the international border with Mexico.

10 Location Overview El Paso Market El Paso is the sixth-largest city in the state of Texas, located at the western tip where Texas meets New Mexico and forms the international border with Mexico. As the largest international metroplex in the world, El Paso is situated on the geographic center of the 2,000-mile U.S.-Mexico border and seamlessly blends diverse cultures and traditions. The city s strategic location also spawned one of the most impressive real estate markets on the southern United States border. As such, El Paso is a thriving city that plays a key role in world trade, manufacturing and distribution while serving as a regional center for health care, higher education, and the cultural arts. Robust El Paso Economy El Paso ranks among the fastest-growing metropolitan areas in the nation, benefiting from the relatively low costs of living and doing business compared to the United States overall. Starting the year at 5.2%, El Paso s unemployment rate fell 140 bps to 3.8% as of October According to the Wall Street Journal - Market Watch, El Paso is the fourth least expensive U.S. Metro for conducting business. El Paso is also the home to the first four-year medical school on the U.S.-Mexico border with the completion of the Paul L. Foster School of Medicine, which is expected to deliver a local economic impact of approximately $1.3 billion. Furthermore, downtown El Paso has been the beneficiary of a substantial public and private investment in the form of the Downtown 2015 Plan that has resulted in substantial increases in property values since its inception, a significant positive economic impact to the downtown area, and the continued redevelopment of many downtown El Paso buildings. The military installation of Fort Bliss is also a major contributor to El Paso s economy as it has become one of America s largest military installations through its continued expansion in recent years. Fort Bliss annual economic impact on the area is estimated at $5.7 billion with the addition of 2,000 new jobs, which bolstered the local economy in recent years while the rest of the United States struggled through the Great Recession. Additionally, the federal government maintains a strong presence in El Paso to manage its status as a border region. The Immigration and Naturalization Service (INS), the Drug Enforcement Agency (DEA) and the U.S. Customs Service all have agency operations in El Paso. As a result, the government is responsible for 23.2% of El Paso s employment, compared with 15.8% and 15.7% for the state of Texas and the United States, respectively. Another driving force in El Paso s economy is education. El Paso s three large school districts are among the largest employers in the area, supplying the region with more than 19,000 jobs. The University of Texas at El Paso (UTEP) is the most significant educational institution with an annual budget of more than $380 million and nearly 3,000 employees. Part of the University of Texas system, UTEP is a major research university with an annual enrollment of more than 20,000 students. Also located in El Paso is the Texas Tech University Health Sciences Center, which recently completed a new $45 million research facility and is home to a four-year medical school. Additionally, El Paso Community College offers 130 programs of study and has five campuses throughout the area. Call center operations are also a key local economic driver, accounting for seven of the top 10 business employers in El Paso. There are approximately 27 call centers located throughout El Paso which employ approximately 12,000 local residents. With sustainable economic growth, the unprecedented population growth over the next 10 years due primarily to the operational changes associated with Fort Bliss, and the expansion of cross-border trade, El Paso s economy has a positive, long-term outlook. El Paso International Airport El Paso s international airport is the gateway to West Texas, Southern New Mexico and Northern Mexico as well as providing an alternative means of transportation, including international cargo operations. The airport s Air Cargo complex is the largest, most modern facility of its kind along the U.S.-Mexico border, and its commercial operations serve more than three million passengers annually. Furthermore, seven airlines provide nonstop service to ten cities throughout the United States and access to eight of the nation s ten largest air hubs.

11 CONTACT THE BROKERAGE TEAM WILLIAM CAPARIS First Vice President Global Industrial & Logistics Jack Fraker NATIONAL PARTNERS Northeast Michael Hines Brian Fiumara Brad Ruppel Lauren DaWicki CONTACT OUR DEBT & EQUITY FINANCE EXPERT JONATHAN BRYAN Senior Vice President Southeast Chris Riley Frank Fallon Trey Barry Jennifer Klingler South Central Randy Baird Jonathan Bryan Ryan Thornton SCOTT LEWIS Senior Vice President North Central Mike Caprile Ryan Bain Zach Graham West Darla Longo Barbara Perrier Rebecca Perlmutter Brett Hartzell Mike Kendall Gina Christen Debt & Structured Finance Val Achtemeier Scott Lewis Steve Roth Steve Kundert Offering integrated real estate capital markets soltuions from stratey to execution - delivered by a seamless national partnership 2018 CBRE, Inc. All rights reserved. This information has been obtained from sources believed reliable, but has not been verified for accuracy or completeness. You should conduct a careful, independent investigation of the property and verify all information. Any reliance on this information is solely at your own risk. CBRE and the CBRE logo are service marks of CBRE, Inc. All other marks displayed on this document are the property of their respective owners. Photos herein are the property of their respective owners. Use of these images without the express written consent of the owner is prohibited.

12 Approved by the Texas Real Estate Commission for Voluntary Use Texas law requires all real estate licensees to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords. Information About Brokerage Services efore working with a real estate broker, you should Bknow that the duties of a broker depend on whom the broker represents. If you are a prospective seller or landlord (owner) or a prospective buyer or tenant (buyer), you should know that the broker who lists the property for sale or lease is the owner s agent. A broker who acts as a subagent represents the owner in cooperation with the listing broker. A broker who acts as a buyer s agent represents the buyer. A broker may act as an intermediary between the parties if the parties consent in writing. A broker can assist you in locating a property, preparing a contract or lease, or obtaining financing without representing you. A broker is obligated by law to treat you honestly. IF THE BROKER REPRESENTS THE OWNER: The broker becomes the owner s agent by entering into an agreement with the owner, usually through a written - listing agreement, or by agreeing to act as a subagent by accepting an offer of subagency from the listing broker. A subagent may work in a different real estate office. A listing broker or subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first. The buyer should not tell the owner s agent anything the buyer would not want the owner to know because an owner s agent must disclose to the owner any material information known to the agent. IF THE BROKER REPRESENTS THE BUYER: The broker becomes the buyer s agent by entering into an agreement to represent the buyer, usually through a written buyer representation agreement. A buyer s agent can assist the owner but does not represent the owner and must place the interests of the buyer first. The owner should not tell a buyer s agent anything the owner would not want the buyer to know because a buyer s agent must disclose to the buyer any material information known to the agent. IF THE BROKER ACTS AS AN INTERMEDIARY: A broker may act as an intermediary between the parties if the broker complies with The Texas Real Estate License Act. The broker must obtain the written consent of each party to the transaction to act as an intermediary. The written consent must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker s obligations as an intermediary. The broker is required to treat each party honestly and fairly and to comply with The Texas Real Estate License Act. A broker who acts as an intermediary in a transaction: (1) shall treat all parties honestly; (2) may not disclose that the owner will accept a price less than the asking price unless authorized in writing to do so by the owner; (3) may not disclose that the buyer will pay a price greater than the price submitted in a written offer unless authorized in writing to do so by the buyer; and (4) may not disclose any confidential information or any information that a party specifically instructs the broker in writing not to disclose unless authorized in writing to disclose the information or required to do so by The Texas Real Estate License Act or a court order or if the information materially relates to the condition of the property. With the parties consent, a broker acting as an intermediary between the parties may appoint a person who is licensed under The Texas Real Estate License Act and associated with the broker to communicate with and carry out instructions of one party and another person who is licensed under that Act and associated with the broker to communicate with and carry out instructions of the other party. If you choose to have a broker represent you, you should enter into a written agreement with the broker that clearly establishes the broker s obligations and your obligations. The agreement should state how and by whom the broker will be paid. You have the right to choose the type of representation, if any, you wish to receive. Your payment of a fee to a broker does not necessarily establish that the broker represents you. If you have any questions regarding the duties and responsibilities of the broker, you should resolve those questions before proceeding. Real estate licensee asks that you acknowledge receipt of this information about brokerage services for the licensee s records. Buyer, Seller, Landlord or Tenant Date Texas Real Estate Brokers and Salespersons are licensed and regulated by the Texas Real Estate Commission (TREC). If you have a question or complaint regarding a real estate licensee, you should contact TREC at P.O. Box 12188, Austin, Texas or EQUAL HOUSING OPPORTUNITY 01A TREC No. OP-K

Will C. Brown, SIOR, Principal Sonny Brown Associates, LLC (915) office (915) mobile

Will C. Brown, SIOR, Principal Sonny Brown Associates, LLC (915) 584-5511 office (915) 479-5511 mobile will@sonnybrown.com The information contained herein has been obtained from sources deemed reliable;