OFFERING MEMORANDUM 152 SPACE RV PARK ON 5.5 ACRES CALL FOR OFFERS DUE JULY 15 -AUGUST 21, 2017

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OFFERING MEMORANDUM 7450 CRISTOBAL WAY ROHNERT PARK, CA 94928 WINE COUNTRY RV

1 OFFERING MEMORANDUM 7450 CRISTOBAL WAY ROHNERT PARK, CA WINE COUNTRY RV PARK CALL FOR OFFERS DUE JULY 15 -AUGUST 21, SPACE RV PARK ON 5.5 ACRES

OFFERING MEMORANDUM Table of Contents INVESTMENT SUMMARY PAGE 4 PROPERTY INFORMATION PAGE 6 MARKET OVERVIEW PAGE 10 FINANCIAL OVERVIEW PAGE 21 2016 P & L PAGE 22 2017 PROFORMA

94928. It has been prepared by Colliers International. This Offering Memorandum may not be all-inclusive or contain all of the information a prospective purchaser may desire.

For further information regarding the purchase and sale of this asset, to register to receive due diligence materials, schedule a tour, or to submit a bid, please contact the

Rotticci CCIM Vice President Alex Cheng Associate Kenneth Verbeck Associate DIRECT +1 503 499 0082 DIRECT +1 503 499 0062 DIRECT +1 503 499 0075 direct +1 503 499 0079 EMAIL sean.

2 OFFERING MEMORANDUM Table of Contents INVESTMENT SUMMARY PAGE 4 PROPERTY INFORMATION PAGE 6 MARKET OVERVIEW PAGE 10 FINANCIAL OVERVIEW PAGE P & L PAGE PROFORMA PAGE 23 Exclusive Advisors This Offering Memorandum contains select information pertaining to the business and affairs of the Property at 7450 Cristobal Way Ronhert Park, CA It has been prepared by Colliers International. This Offering Memorandum may not be all-inclusive or contain all of the information a prospective purchaser may desire. The information contained in this Offering Memorandum is confidential and furnished solely for the purpose of a review by a prospective purchaser of the Property. For further information regarding the purchase and sale of this asset, to register to receive due diligence materials, schedule a tour, or to submit a bid, please contact the following Colliers International professionals: FOR RENT & FOR SALE DEVELOPMENT METRICS COMPARABLES PAGE 24 TRANSACTION GUIDELINES PAGE 28 Sean Worl Senior Associate Skip Rotticci CCIM Vice President Alex Cheng Associate Kenneth Verbeck Associate DIRECT DIRECT DIRECT direct sean.worl@colliers.com skip.rotticci@colliers.com alexander.cheng@colliers.com kenneth.verbeck@colliers.com 851 S.W. Sixth Ave., Suite 1200 Portland, Oregon COLLIERS INTERNATIONAL P. 2

3 > Investment Summary

INVESTMENT HIGHLIGHTS Investment Summary Wine Country RV Park located in Rohnert Park, California is in the Sonoma Valley of Northern California.

4 INVESTMENT HIGHLIGHTS Investment Summary Wine Country RV Park located in Rohnert Park, California is in the Sonoma Valley of Northern California. Sonoma and Napa Counties are the heart of California s superb fine wine vineyards and wineries. This 5.5 acre park offers an investor/developer a unique opportunity to acquire a very significant medium to high density redevelopment opportunity while maintain a market rate cash flowing return during the entitlement period. Wine Country RV Park offers its tenants and guests with many amenities. Within walking distance to biking paths, 13 parks, golf courses, pools, two performing arts centers and Charles M. Schultz Museum. Minutes from Sonoma State University and the Bay Area, and the new Graton Casino. Wine Country RV Park is approximately 48 miles north of San Francisco and is within easy commuting distance to San Francisco Bay Area job centers of San Francisco, Oakland, Richmond, Berkeley, San Rafael, etc. It is one of the closest suburban areas to the SF Bay Area that offers a quaint suburban lifestyle with good schools and affordability. Wine Country RV Park offers stable revenue and tenants in desirable redevelopment area with the opportunity to develop medium - high density +/- 165 unit village within 1/4 mile of Cotati Sonoma Marin Area Rapid Transit (SMART) station. The current zoning on the site is Medium-High Density Residential. The City of Rohnert Park is anxious to see the site redeveloped to a higher and better use, and is open to discussing even greater densities than are currently incorporated in the Comprehensive Plan which would allow for 165 units. The owners have done a substantial amount of negotiation and preparation for redevelopment of the site that will make the entitlement process, vacating the site, and permitting highly cost effective and efficient. The City of Rohnert Park has stated that they can process development applications and building permits in very short order (*please verify independently with the City of Rohnert Park). Wine Country RV Park is: In close proximity to the San Fransisco Bay Area Within walking distance to Sonoma State College Cotati SMART rail station 1/4 mile to Wine Country RV Park Large enough for institutionally sized redevelpment Efficient and cost effective redevelop Able to provide a market rate return on your investment during entitlement period COLLIERS INTERNATIONAL P. 4

5 > Property Information

239,580 PRICE: UNPRICED CALL FOR OFFERS!

6 PROPERTY INFORMATION Site Details 1506 M PRODUCT TYPE: Recreational Vehicle Park / Redevelopment Opportunity ADDRESS: 7450 Cristobal Way Ronhert Park, CA GROSS LAND AREA: 239,580 PRICE: UNPRICED CALL FOR OFFERS! ZONING: Medium High Density Residential NUMBER OF SPACES : 152 CONSTRUCTION: RV/Multi-Family HEIGHT LIMIT: 45ft ft. APN: COLLIERS INTERNATIONAL P. 6

7 PROPERTY INFORMATION WINE COUNTRY RV PARK COLLIERS INTERNATIONAL P. 7

8 PROPERTY INFORMATION COLLIERS INTERNATIONAL P. 8

9 > Market Overview

MARKET OVERVIEW RONHERT PARK, CALIFORNIA Highlights > Population - As of 2014, Ronhert Park s population is 42,407. Since 2000, it has had a population growth of 16.74%.

10 MARKET OVERVIEW RONHERT PARK, CALIFORNIA Highlights > Population - As of 2014, Ronhert Park s population is 42,407. Since 2000, it has had a population growth of 16.74%. > Economy - The unemployment rate in Ronhert Park is 4.40% (U.S. avg. is 5.20%). Recent job growth is positive. Ronhert Park jobs have increased by 2.24%. > Commute - Average commute time is 28 minutes. > The median home value for a single family house in Ronhert Park is $466,400, (2014) LOCATION, LOCATION, LOCATION Location - Ronhert Park is a small city located in the suburban community of Santa Rosa, an area of rugged hills and valleys north of San Fransisco. Geographically this area is north of Marin County, the upscale set of San Fransisco suburbs, and extends into open and unsettled areas far norht of the city, Santa Rosa itself likes along the U.S Ronhert Park is the home of a California State University of California ; Sonoma State University and high tech industry and Petaluma, a growing former agricultural center. Just east across a low mountain range is the wine growing center of Sonoma, and west the area extends to the rugged Pacific Coastline. Downtown Santa Rosa is modern and very pleasant, and has a strong arts base considering its size and proximaty to the San Fransisco powerhouse. The area has a complex and mixed economy, partially self-sufficient and partially dependent on San Fransisco and other Bay Area cities. The excellent climate has brought forth considerable growth pressure. COLLIERS INTERNATIONAL P. 10

With miles of rugged Pacific coastline, towering redwood forests, and its close proximity to San Fransisco s Golden Gate Bridge, Sonoma County is a traveler s dream vacation spot in California.

11 MARKET OVERVIEW> Sonoma, California Wine Country RV Park is located in Ronhert Park a city within the Sonoma County lines. Sonoma County is the northwestern county in the nine-county San Fransisco Bay Area region. With miles of rugged Pacific coastline, towering redwood forests, and its close proximity to San Fransisco s Golden Gate Bridge, Sonoma County is a traveler s dream vacation spot in California. Sonoma County represents the best of Northern California - premium wine, farm-to-table dining, unique resorts and spas and over 50 state and regional parks. Sonoma is the largest producer of California s Wine Country region, which also includes Napa, Mendocino, and Lake counties. With over 425 wineries, Sonoma County is ranked the 32nd county in the United States in Agricultural production. More than 7.4 million tourist visit each year, spending more than one billion dollars in Santa Rosa serves as the county seat and is the largest city in Sonoma County with a population of 167,815. Beautiful Coastal Views Over 250 Wineries throughout Sonoma County Total Population 500,292 (2014) Forty Minutes to San Fransisco Over $1,000,000,000 plus in Tourist Revenue COLLIERS INTERNATIONAL P. 11

12 MARKET OVERVIEW> Tech on the Rise World Technology Leaders: make their home in Silicon Valley & San Fransisco: The San Fransisco Bay area is comprised of nine counties: San Fransisco, Sonoma, Napa, Solano, Contra Costa, Alameda, Santa Clara, San Mateo, and Marin Counties. Silicon Valley is located within the Southern reaches of the Bay Area. The leading high technology region in the world, Silicon Valley covers San Jose and several cities of South Bay. The Valley is home to many of the industry leaders. COLLIERS INTERNATIONAL P. 12

13 San Fransisco - Bay Area Live, Work, Play > 3.9% % San Fransisco - Oakland-Hayward, UNEMPLOYMENT RATE* high-tech employment is 90% * Named the Bay Area Number One accounts for City for High 40% of all Technology job growth in by Forbes California Magazine * Biz Journals % of the working population in the San Fransisco Bay Area has a bachelor s of arts degree or higher* by Forbes Magazine COLLIERS INTERNATIONAL P. 13

14 Market Overview San Fransisco - Bay Area POPULATION EMPLOYMENT HOME SALES HOME VALUES RETAIL SALES Projected Trends for 2017 UNEMPLOYMENT COLLIERS INTERNATIONAL P. 14

San Fransisco - Bay Area, California San Fransisco - Bay Area A crimson bridge, cable cars, a sparkling bay and streets lined with elegant Victorian homes - San Fransisco is undeniably one of the

Located along the Northern California at the state s destinctive bend in the coast, the region has an alluring magicthat stretches beyond the bay to diverse cities with nightlife and trend-setting

The Bay Area is also home to some of world s finest wine country, including Napa Valley and Sonoma, plus waterfront towns, dramatic beaches, and the tech-saavy southern end of the bay known as

15 San Fransisco - Bay Area, California San Fransisco - Bay Area A crimson bridge, cable cars, a sparkling bay and streets lined with elegant Victorian homes - San Fransisco is undeniably one of the world s great cities. Located along the Northern California at the state s destinctive bend in the coast, the region has an alluring magicthat stretches beyond the bay to diverse cities with nightlife and trend-setting cuisine. The Bay Area is also home to some of world s finest wine country, including Napa Valley and Sonoma, plus waterfront towns, dramatic beaches, and the tech-saavy southern end of the bay known as Silicon Valley, where lunchtime ideas at Google, Facebook, and Apple, turn into the next brilliant innovation. San Fransisco measures less than 50 square miles/130 square kilometers, but San Fransisco justly ranks as on of the greatest cities in the world. Famous for grand-dame Victorians, classic cable cars, dynamic diversity, a beautiful waterfron, and a Golden Gate Bridge, the City by the Bay truly has it all. I left my heart in San Fransisco, High on a hill, it calls to me. - singer Tony Bennett San Fransisco - Bay Area is made up of nine counties and home to several cities: Napa Valley, Sonoma Valley, Berkley, Oakland, Silicon Valley, Santa Cruz and San Jose, just to name a few. Sonoma County spans more than one million acres from the Pacific Ocean to the rugged country bliss. San Fransisco Bay Area is home to several sports teams and stadiums, including San Fransisco Giants at AT&T Park and Oracle Arena, home of the Golden State Warriors. COLLIERS INTERNATIONAL P. 15

Marin County, California Marin County is one of the wealthiest localities in the United States, known for its affluence.

The county is governed by the Marin County Board of Supervisors.

Marin County is a haven for athletes, as it hosts the oldest cross country running event, the Dispea Race, which occurs annually.

16 Marin County, California Marin County is one of the wealthiest localities in the United States, known for its affluence. In May 2009, Marin County had the fifth highest income per capita in the United States at about $91,480. The county is governed by the Marin County Board of Supervisors. The county is also well known for its natural environment and liberal politics. Marin County is a haven for athletes, as it hosts the oldest cross country running event, the Dispea Race, which occurs annually. It is also the birthplace of the Mountain Bike. Geographically, the county forms a large, southward-facing penninsula, with the Pacific Ocean to the west, San Pablo Bay, and San Fransisco Bay to the east, and - across the Golden Gate - the city of San Fransisco to the south. Marin County s northern border is Sonoma County. COLLIERS INTERNATIONAL P. 16

Sonoma State University, California Located in California s premier wine country one hour north of San Francisco, Sonoma State is a small campus with big ideas.

campus setting. The majority of Sonoma State s sophomores, junior, seniors, and graduate students live in the local community. They live in a variety of locations; e.g., Rohnert Park, Petaluma, Santa Rosa.

While living off campus students get and stay connected in many ways, such as campus employment, participating in collegiate level athletics or intramural sports, joining a club or Greek sorority or

17 Sonoma State University, California Located in California s premier wine country one hour north of San Francisco, Sonoma State is a small campus with big ideas. With a tradition of promoting intellectual and personal growth, leadership opportunities and technological proficiency, SSU offers its students a friendly, safe and informal atmosphere on a beautiful campus setting. The majority of Sonoma State s sophomores, junior, seniors, and graduate students live in the local community. They live in a variety of locations; e.g., Rohnert Park, Petaluma, Santa Rosa. Even though a large percentage of the student body lives off-campus, students are very active with their campus life. While living off campus students get and stay connected in many ways, such as campus employment, participating in collegiate level athletics or intramural sports, joining a club or Greek sorority or fraternity, academic study groups and clubs, or pursuing leadership opportunities and student government. Sonoma State University has a total enrollment of 8,668 students. Many students decide to live off campus after their freshman year. Sonoma State University is.7 miles away from the subject property, an ideal distance as it is within both walking and biking distance. COLLIERS INTERNATIONAL P. 17

Sonoma Marin Area Rail Transit (SMART) Sonoma Marin Area Rail Transit (SMART) Sonoma-Marin Area Rail Transit

18 Sonoma Marin Area Rail Transit (SMART) Sonoma Marin Area Rail Transit (SMART) Sonoma-Marin Area Rail Transit (SMART) is the San Francisco Bay Area s newest transportation option for travel, offering passenger rail service in Sonoma and Marin counties. SMART s initial 43 miles of rail corridor includes 10 stations, from the Sonoma County Airport to Downtown San Rafael. Future extensions include: Larkspur, which is scheduled to be completed in 2018; Windsor; Healdsburg; and Cloverdale. The full project will provide 70 miles of passenger rail service, connecting SMART passengers with jobs, education centers, retail hubs and housing along the Sonoma- Marin corridor, and a bicycle-pedestrian pathway. The SMART Cotati station is located within 1 mile of the subject property, offering convenient transportation to the surrounding Sonoma and Marin county. COLLIERS INTERNATIONAL P. 18

Graton Casino Ronhert Park, California Graton Casino About Located in Sonoma County, Graton Resort & Casino has a

Owned and operated by the Federated Indians of Graton Rancheria, Graton Resort & Casino is the complete

entertainment options for visitors and locals alike.

featuring 3,000 slots, video poker, over 100 table games including Blackjack, Pai Gow Poker, and Baccarat, a live

19 Graton Casino Ronhert Park, California Graton Casino About Located in Sonoma County, Graton Resort & Casino has a commanding presence amongst rolling hills of Northern California s wine country. Owned and operated by the Federated Indians of Graton Rancheria, Graton Resort & Casino is the complete entertainment experience, featuring table games, the latest slot machines, upscale and casual dining, plus entertainment options for visitors and locals alike. Casino Graton Resort & Casino is the region s newest full-amenity gaming resort with a high-energy casino floor featuring 3,000 slots, video poker, over 100 table games including Blackjack, Pai Gow Poker, and Baccarat, a live poker room and VIP gaming salons. From the excitement, sound, decor, and vibe, there s no better place to play in the region. The convenience of getting to the casino resort is complemented by 5,500 guest parking COLLIERS INTERNATIONAL P. 19

20 > Financial Overview

21 FINANCIAL OVERVIEW Property Details ADDRESS: 7450 Cristobal Way Ronhert Park, California PLANNED BUILDING INFORMATION Gross Square Footage 129,260 Net Rentable Square Footage 106,150 # Units 165 Unit Mix 55 - Studios, 55-1 Beds, 55-2 Beds Average Unit Size 643 Square feet Onsite Parking 280 BROKERS DEVELOPMENT PRO FORMA HIGHLIGHTS Total $ Per Square Foot $ Per Unit Projected Development Cost $47,190, $445.0 $286,005 Projected Stabilized Effective Gross Income $4,101, $31.73 $24,855 Projected Operating Expense $983, $7.65 $5, Projected Stabilized NOI $2,953, $22.85 $17, Projected Stabilized Value $65,630, $ $397, Projected Stabilized Cap Rate 4.25% Stabilized Project IRR (est.) 28.49% Stabilized Equity IRR (est.) 48.98% Projected Stabilized Yield on Cost 6.26% * Please do not rely on the information provided herein as an example of potential costs and returns. Buyer must perform its own due diligence including financial analysis. COLLIERS INTERNATIONAL P. 21

22 FINANCIAL OVERVIEW 2016 Actual / 2017 Proforma Existing RV Park Matrix 2017 PROFORMA 2016 ACTUAL INCOME APPROACH INCOME Amount % $/unit $/SF Amount % $/unit $/SF Gross Scheduled Income $1,459, % $9,600 $6.09 $1,363, % $8,967 $ Vacancy* $58, % $384 $ % $0 $0.00 Effective Rental Income $1,400, % $9,216 $5.85 $1,363, % $8,967 $ Other Income 0.0% $0 $0.00 $0 0.0% $0 $0.00 Gross Operating Income $1,400, % $9,216 $5.85 $1,363, % $8,967 $5.69 OPERATING EXPENSES Total Expenses + Reserves $510, % $3,360 $2.13 $492, % $3,238 $2.05 NET OPERATING INCOME $890, % $5,856 $3.72 $870, % $5,730 $3.64 COLLIERS INTERNATIONAL P. 22

23 > Comparables

24 RENT COMPARABLES Property Name & Address YEAR BUILT/ REMODELED UNIT TYPE # OF UNITS SF RANGE RENT RANGE RENT/SF W/D IN UNIT LAUNDRY AC STORAGE PARKING PETS The Reserve 5121 Dowell Ave Rohnert Park, CA Bdr/1Bath $ 2,395 $ Yes No Yes Incl. Incl. Yes 2Bdr/1Bth 32 1,551 $ 2,875 $ Bdr/2Bth 36 1,518 $ 3,200 $ 2.11 Total/Wtd Avg $ 1,489 $ 2.05 Fiori Estates 5102 Dowdell Ave Rohnert Park, CA Bdr/1Bth $ 2,014 $ Bdr/2Bth 92 1,153 $ 2,477 $ 2.15 Picture HERE Bdr/2Bth 15 1,346 $ 2,865 $ 2.13 Yes No Yes Incl. Incl. Yes Total/Wtd Avg $ 1,120 $ 2.42 Windsor Redwood Creek 600 Rohnert Expressway West Rohnert Park, CA Picture HERE Bdr/1Bth $ 2,065 $ Bdr/1Bth $ 2,585 $ Bdr/2Bth 120 1,136 1,240 $ 2,580 $ 2,680 $ Bdr/2bth 8 1,454 $ 2,915 $ 2.00 Yes No Yes Incl. Incl. $ 35 Total/Wtd Avg 232 1,174 $ 2, $ 2.33 The Arbors 480 City Center Drive Rohnert Park, CA Bdr/1Bth $ 876 $ Bdr/2Bth 24 1,080 $ 1,056 $ 0.98 Picture HERE Bdr/2Bth 16 1,285 $ 1,240 $ 0.96 Yes No Yes Incl. Incl. $ 35 Total/Wtd Avg $ 529 $ 1.09 Mountain Shadows 160 Golf Course Drive Rohnert Park, CA Picture HERE Bdr/1Bth $ 2,105 $ Bdr/1Bth 84 1,289 $ 2,584 $ Bdr/2Bth 8 1,560 $ 3,168 $ 2.03 Yes No Yes Incl. Incl. $ 20 Total/Wtd Avg $ 1,191 $ 2.16 Emerald Pointe 8670 Camino Colegio Rohnert Park, CA Picture HERE Bdr/1Bth $ 1,582 $ Bdr/1Bth $ 1,900 $ Bdr/2Bth $ 2,000 $ Bdr/2Bth 44 1,022 $ 2,324 $ 2.27 Yes No Yes Yes Incl. $ 50 Total/Wtd Avg $ 982 $ 2.27 COLLIERS INTERNATIONAL P. 24

25 RENT COMPARABLES Rent Comparables COLLIERS INTERNATIONAL P. 25

26 SALES COMPARABLES Property Name and Address Year Built Sale Price # Of Units $/Unit Cap Rate Sold Date Useable SF Useable Ac Trailer Haven 2399 E 14th Ave. Leandro, CA 1906 $16,400, $164, % Aug , Silver City Resort 500 Atascadero Rd. N/A $11,750, $84, % Apr , Morro Bay, CA Sands RV & Golf Bubbling Wells Rd 1982 $9,556, $18, % Jun , Desert Hot Springs, CA Fairview RV Park NE Sandy Blvd 1989 $17,600, $43, % May , Portland, OR Wine Country RV 2500 Airport Rd. N/A $13,199, $79, % Nov , Paso Robles, CA Lakeside RV Highway 99 Everett, WA N/A $5,250, $33, % Apr , COLLIERS INTERNATIONAL P. 26

27 SALES COMPARABLES Sales Comparables Average CAP Rate $180, $/Unit 7.00% AVG CAP RATE $160, % $140, % $120, % $100, % $80, $60, % $40, % $20, % Trailer Haven Silver City Resort Sands RV & Golf Fairview RV Park Wine Country RV Lakeside RV $0.00 Trailer Haven Silver City Resort Sands RV & Golf Fairview RV Park Wine Country RV Lakeside RV Average Sales $70,632 $Unit Average CAP Rate 5.20% COLLIERS INTERNATIONAL P. 27

28 > Transaction Guidelines

29 TRANSACTION GUIDELINES Wine Country RV Park Transaction Guidelines: Offers due by August 22, 2017 Selection of Finalist August 24, 2017 Best and Fianl offers due August 29, 2017 Selection of Buyer August 30, 2017 PSA Execution August 31, 2017 Due Diligence Period August 31 - September 29, 2017 Estimated closing Date - October 13, 31, 2017 Upon issuance of land use approvals or in compliance with Sellers 1031 Exchange requirements. COLLIERS INTERNATIONAL P. 29

TRANSACTION GUIDELINES CONFIDENTIALITY & DISCLAIMER STATEMENT This Offering Memorandum contains select information pertaining to the business and affairs of the Property at 1506 Main Street,

30 TRANSACTION GUIDELINES CONFIDENTIALITY & DISCLAIMER STATEMENT This Offering Memorandum contains select information pertaining to the business and affairs of the Property at 1506 Main Street, Vancouver, WA. It has been prepared by Colliers International. This Offering Memorandum may not be all-inclusive or contain all of the information a prospective purchaser may desire. The information contained in this Offering Memorandum is confidential and furnished solely for the purpose of a review by a prospective purchaser of the Property. It is not to be used for any other purpose or made available to any other person without the written consent of Seller or Colliers International. The material is based in part upon information supplied by the Seller and in part upon financial information obtained by Colliers International from sources it deems reliable. Owner, nor their officers, employees, or agents makes any representation or warranty, express or implied, as to the accuracy or completeness or this Offering Memorandum or any of its contents and no legal liability is assumed or shall be implied with respect thereto. Prospective purchasers should make their own projections and form their own conclusions without reliance upon the material contained herein and conduct their own due diligence. By acknowledging your receipt of this Offering Memorandum from Colliers, you agree: 1) The Offering Memorandum and its contents are confidential; 2) You will hold it and treat it in the strictest of confidence; and 3) You will not, directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum or its contents in any fashion or manner detrimental to the interest of the Seller. Owner and Colliers International expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers to purchase the Property and to terminate discussions with any person or entity reviewing this Offering Memorandum or making an offer to purchase the Property unless and until a written agreement for the purchase and sale of the Property has been fully executed and delivered. If you wish not to pursue negotiations leading to the acquisition of the Property or in the future you discontinue such negotiations, then you agree to purge all materials relating to this Property including this Offering Memorandum. A prospective purchaser s sole and exclusive rights with respect to this prospective transaction, the Property, or information provided herein or in connection with the sale of the Property shall be limited to those expressly provided in an executed Purchase Agreement and shall be subject to the terms thereof. In no event shall a prospective purchaser have any other claims against Seller or Colliers International or any of their affiliates or any of their respective officers, Directors, shareholders, owners, employees, or agents for any damages, liability, or causes of action relating to this solicitation process or the marketing or sale of the Property. This Offering Memorandum shall not be deemed to represent the state of affairs of the Property or constitute an indication that there has been no change in the state of affairs of the Property since the date this Offering Memorandum. COLLIERS INTERNATIONAL P. 30

TRANSACTION GUIDELINES Offering Procedure The offering of 7450 Cristobal Way, Ronhert Park, California is being conducted exclusively by Colliers International.

31 TRANSACTION GUIDELINES Offering Procedure The offering of 7450 Cristobal Way, Ronhert Park, California is being conducted exclusively by Colliers International. All questions and inquiries should be directed to the Colliers representatives listed in this memorandum. Colliers will be available to assist prospective investors with their review of the offering. On-site inspections of the property and tours of the market area can be arranged directly with Colliers. All prospective purchasers can receive the due diligence materials by contacting any one of the listing brokers to register and receive a Confidentiality Agreement. Once a signed Confidentiality Agreement is received prospective buyers will receive a link to the due diligence material folders. Please address your offers to the brokers listed below. SEAN WORL Senior Associate sean.worl@colliers.com ALEX CHENG Associate alexander.cheng@colliers.com S.W. Sixth Ave., Suite 1200 Portland, Oregon SKIP ROTTICCI CCIM Vice President skip.rotticci@colliers.com KENNETH VERBECK Associate kenneth.verbeck@colliers.com Offers should include, at a minimum, the following: The purchase price and closing date; The source of capital, both equity and debt, for the transaction; The amount of earnest money deposit; A statement agreeing to the due diligence, Purchase and Sale Agreement, and closing processes; and A description of assumptions utilized for the offer. COLLIERS INTERNATIONAL P. 31

32 851 S.W. Sixth Ave., Suite 1200 Portland, Oregon Sean Worl Senior Associate Skip Rotticci CCIM Vice President Alex Cheng Associate Kenneth Verbeck Associate DIRECT DIRECT DIRECT DIRECT

Office/Flex Building Investment 150 Professional Center Drive Rohnert Park CA

Office/Flex Building Investment 150 Professional Center Drive Rohnert Park CA Fully Leased - 6.20% CAP EXECUTIVE SUMMARY Keegan & Coppin is pleased to present the opportunity to acquire a premiere industrial/office/flex project in Rohnert Park, Sonoma County. This 22,000± gross