Portfolio of 6 Neighboring Retail, Office and Apartment Buildings

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1 6 Neighboring Retail, Office and Apartment Buildings $4,600, % CAP $600,465 NOI 6 separate buildings for sale totaling 65,079 gross square feet; 47,131 leasable square feet Required equity is only $350,779 Mix of 17 retail, professional office and several apartment tenants All buildings have been remodeled within the last 9 years A new 66 car surface parking lot was built adjacent to the subject property in November, 2009 Buildings must be purchased together - all are encumbered by three cross-collateralized, assumable non-recourse loans Jenkintown is located 10 miles away from downtown Philadelphia

2 309, 315, 319 & 331 Old York Rd (State HWY 611) (INTERSECTION OF OLD YORK ROAD (STATE HWY 611) & WEST AVE) PROPERTY SUMMARY: EXP Realty Advisors is pleased to present for sale this investment opportunity comprised of 6 separate buildings totaling 65,079 gross square feet and 47,131 leasable square feet. Currently there are 17 tenants occupying 63% of the building. Vacancies include the former Buca di Beppo restaurant. All of the buildings have been remodeled within the last 9 years as part of a revitalization of the downtown area. Included in this sale are retail, professional office and several apartment tenants. The borough of Jenkintown, a wealthy Philadelphia suburb, has constructed a Town Square project with a redesigned municipal parking lot and public gathering area immediately behind and adjacent to the subject properties. Municipal improvements include improved street landscaping, benches and cross-walks. A new 66 car surface parking lot was built adjacent to the subject in November, Jenkintown is a northern suburb of Philadelphia that contains more than 100,000 people within 3 miles, with an average household income in excess of $80,000 and has excellent access to major rail and road transportation routes. The subject property is in close proximity to Abington Hospital. Buildings must be purchased together and all are encumbered by three cross-collateralized assumable loans which are non-recourse. LOAN SUMMARY: List Price: $4,600,000 In Place NOI: $233,907 In Place Cap Rate: 5.19% Pro-Forma NOI: $600,645 Pro-Forma CAP: 13.05% Building Size: Totaling 65,079 Gross SF Leasable Area: 47,131 SF Ownership: Fee Simple Financing: This Property Has Assumable Financing Original Loan Amount: $4,600,000 Current Loan Balance: $4,249,221 Equity Required: $350,779 Interest Rate: 8.31% Debt Service: $417,029 Current Cash Flow: -$183,122 Cash On Cash: 5.09% Pro-Forma Cash Flow: $183,436 Pro-Forma Cash on Cash: 52.3% Term: 30 year amortization due in 10 years Loan Dates: 5/25/2001 6/11/2011 Defeasance Premium: $540,948 as of 9/2009 Notes: These loans are non-recourse.

3 Location Summary And Defeasance Analysis LOCATION SUMMARY: According to the Jenkintown Revitalization Master Plan: Jenkintown is a diverse, tree lined community with family-friendly neighborhoods, quality schools and a small town atmosphere. Businesses are attracted to Jenkintown because of friendly small town feel, pedestrian environment, high income and education levels, and transportation accessibility to Philadelphia and suburbs. The adjacent new town square is viewed as the physical and mental gathering point for community and annual jazz festival. The property is located at the heart of Jenkintown s central business district known as Uptown. 93% of Jenkintown s residents hold high school diplomas and 43% have college degrees. Known for its quality school district and low crime rates Jenkintown attracts families with children who have average household incomes of $84,443 as of West Ave. and Greenwood Ave. connect with the Jenkintown train station. Jenkintown s housing is 35% renter occupied and 65% owner occupied with the rentals predominantly located in the town center. The town s development plan calls for new trees, benches, trash cans and lighting along West Ave and Leedom Streets as well as a new parking garage on Greenwood Ave. immediately adjacent to the property. The property offers customers a park once shopping and dining experience with a movie theater 2 blocks away. DEFEASANCE SENSITIVITY ANALYSIS: (as of 9/2009)

4 Rent Roll Last Updated 10/13/2009 ADDRESS Unit Type Gross Sq. Ft. 309 OYR Leaseable Sq. Ft. Monthly Rent Rent psf Monthly Expense Reimburs Security Deposit Commence Date Expiration Date Comments 1st Floor - Rest VACANT 6,127 6,000 $ 9, $ None VACANT VACANT Buca di Beppo 2nd Floor - Rest VACANT 6,127 2,320 $ 2, $ None VACANT VACANT 2nd Floor - office Office 3,000 $ 2, $ All Utilities /1/2004 6/30/2013 (1) 5 Yr. Options Basement Storage Lockers 6,089 2,260 $ $ 0.35 None Mo-to-Mo Mo-to-Mo TOTALS: 18,343 13, OYR 1st floor VACANT 4,080 4,080 $ 6, $ None VACANT VACANT 2nd Floor - A 1 Bdrm Apartment 1,189 1,000 $ $ 8.88 All Utilities $ /1/2006 8/31/2009 2nd Floor - B 1 Bdrm Apartment 1,189 1,000 $ $ 8.76 All Utilities $ /18/2006 9/17/2009 2nd Floor - C 1 Bdrm Apartment 1,189 1,000 $ $ 9.00 All Utilities $ /15/2006 5/31/2009 Basement VACANT 3,478 Included With 1st Floor Lease TOTALS: 11,124 7, OYR 1st Floor - Front VACANT 3,823 3,000 $ 4, $ VACANT VACANT 1st Floor - Rear Yarn Shop 1,000 $ 1, $ All Utilities $1, /1/2006 9/30/2009 (4) 1 Yr. Options 2nd Floor VACANT 3,991 1,991 $ 2, $ VACANT VACANT 2nd Floor Admin. Office 2,000 $ 2, $ All Utilities $2, /1/2006 6/30/2009 Basement Basement 3,600 TOTALS: 11,414 7, OYR 8,236 Corner Furniture Store 3,500 $ 6, $ $52.00 $5, /1/2003 8/31/2013 One 5 Yr option Salon Hair Salon 2,200 $ 5, $ $ $5, /1/ /31/2013 Two 5 Yr option Restaurant Restaurant 2,000 $ 3, $ $ $2, /1/2005 8/31/2010 Option to renew Basement Basement 8,300 TOTALS: 8,236 7,700

5 Rent Roll 710 W. Avenue 5,351 Insurance Insurance 720 $ 1, $ $1, /1/2006 5/31/2009 One 3 Yr. Option Senate State Rep. 1,100 $ 1, $ $18.75 $1, /4/ /31/2009 Dry Cleaner Cleaners 650 $ 1, $ $ $1, /1/2006 7/31/2014 Art Store Art Supply Store 2,100 $ 2, $ $1, /1/1998 4/30/2013 2nd Floor Bdrm Apartment 4,991 1,000 $ $ All Utilities $ /1/2007 7/31/2009 2nd Floor Bdrm Apartment 1,000 $ $ 9.90 All Utilities $ /1/2000 Mo-to-Mo 2nd Floor Bdrm Apartment 1,000 $ $ All Utilities $ /1/2006 1/31/2010 2nd Floor Bdrm Apartment 1,000 $ $ 9.84 All Utilities $ /1/ /30/2009 Basement Basement 1,200 TOTALS: 11,542 8, W. Avenue Café Café 2,210 2,210 $4, $ $1, $3, /1/2000 1/31/2013 Basement Basement 2,210 TOTALS: 4,420 2,210 Sq. Ft. Total 65,079 47,131 Occupancy 63.10% IN PLACE PRO-FORMA Total Monthly Rental Income $39, $ 63, Total Annual Rental Income $468, $763, December 2008 Expense Reimbursements Annualized $38, $61, * Pro-forma number represents the in-place expense reimbursements Total Annual Income $506, $824, at 63% occupancy extrapolated to 100% occupancy. Expenses $224, $224, * Expenses include a $22,300 maintenance fee. Net Operating Income $282, $600, Debt Service $417, $417, Cash Flow -$134, $183, Purchase Price $5,000,000 $5,000,000 CAP Rate 5.65% 12.01%

6 Site Plan N.A.P. N.A.P. N.A.P. N.A.P.

7 Labeled Aerial Subject Property New 66 car surface parking lot to be completed by late December 2009

8 Labeled Aerial And Map Subject Property New 66 car surface parking lot to be completed by late December 2009

9 Location Map (10 Miles From Subject Property)

10 Traffic Counts Map

11 1 Mile Competition Map

12 1-3-5 Mile Demographics Map

13 1-3-5 Mile Demographic Graphs

14 1-3-5 Mile Demographic Data 1 Miles: 3 Miles: 5 Miles: Population: 2009 Total Population 14, , ,642 Male Population 45.9% 46.1% 46.3% Female Population 54.1% 53.9% 53.7% Median Age Population Density (per sq. mi.) 4, , ,820.0 Employees 11,446 61, ,065 Establishments 1,288 5,676 16,475 Income: 2009 Median HH Income $81,374 $59,899 $50,758 Per Capita Income $51,900 $32,077 $27,156 Average HH Income $122,290 $79,018 $67,962 Households: 2009 Total Households 6,303 65, ,827 Average Household Size Household Growth % 1.2% 0.1% Housing: 2009 Owner Occupied Housing Units 66.4% 66.5% 61.1% Renter Occupied Housing Units 28.1% 27.8% 31.4% Vacant Housing Units 5.4% 5.7% 7.5% Race: 2009 White 83.1% 51.8% 50.5% Black 9.7% 40.2% 37.0% American Indian, Eskimo, Aleut 0.2% 0.2% 0.2% Asian 5.0% 4.7% 6.2% Hawaiian or Pacific Islander 0.0% 0.1% 0.1% Other 0.7% 0.9% 3.5% Multirace 1.3% 2.1% 2.6% Contact Us EXP Realty Advisors 118 East 28th Street Suite #808 New York, NY Phone: (212) Fax: (212) Our Team Robert P. James President Phone: (212) rob@exp1031.com Douglas D. McCulloch Director of Sales Phone: (212) doug@exp1031.com Daniel de Sa' Director of Sales Phone: (212) dan@exp1031.com