NORTH PARK CORPORATE CENTER

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1 PHASE II / SAN ANTONIO, TEXAS INVESTMENT SUMMARY

2 THE OFFERING HFF is pleased to offer the opportunity to purchase North Park Corporate Center Phase II (the Property ), a high-quality project consisting of three single-story office buildings totaling 86,400 square feet strategically located on US Highway one half mile south of Loop in the highly desirable North Central office market of San Antonio. At a current occupancy level of 100%*, the Property features a dynamic blend of tenants as well as strong in-place cash flow coupled with upside potential on rents. With a prominent location as well as superior building and financial attributes, the Property is well-positioned for steady and increasing near-term cash flow along with sustained long-term value appreciation in the booming economy of San Antonio, Texas. *Pending execution of one lease expansion. INVESTMENT HIGHLIGHTS PROMINENT LOCATION IN THRIVING SUBMARKET North Park Corporate Center Phase II features a convenient location along US Highway near Loop in close proximity to some of the most affluent and fastest growing neighborhoods in San Antonio including Hollywood Park, Stone Oak and Sonterra. The Property s location provides direct access to decision makers while maintaining easy accessibility to workforce housing and other major business districts of San Antonio via major roadways surrounding the project. The North Central office market is one of the strongest in the city with only 8.8% vacancy and the highest average rents of all major office markets in San Antonio at $20.71 full service per CoStar. INCOME STABILITY COUPLED WITH UPSIDE POTENTIAL At 100% occupancy, North Park Corporate Center Phase II presents investors with secure and increasing cash flow through NNN leases and contractual rent escalations. Additionally, upside potential exists in rolling current tenants to market rental rates. The Property has balanced lease rollover through 2020 with no tenant expirations in the next three years. DIVERSIFIED RENT ROLL The Property has a diverse blend of tenants including international, national and local companies in a variety of industries including hospitality, management, emergency services, sales and marketing. The average remaining lease term for tenants at the Property is 4.6 years with the largest and most creditworthy tenant, Marriott World Wide Reservations, leasing 31% of the project and in occupancy until April

3 PROPERTY OVERVIEW Address: Location: Submarket: San Pedro Avenue San Antonio, Texas Adjacent to U.S. north of Donella Drive, one-half mile south of Loop North Central INSTITUTIONAL QUALITY ASSET North Park Corporate Center Phase II has been professionally managed and maintained to the highest standards since completion in 2006 as evidenced by the immaculate property condition and lack of immediate capital requirements. High-end landscaping and modern construction with an abundance of glass frontage in conjunction with a surplus of nearby amenities support tenant retention within the project. The Property offers above average parking and efficient floor plates intentionally created to support the wealth of dense, open-office users in the North Central San Antonio market. Tenants value the ability for employees and clients to park immediately adjacent to their space as well as control their own utilities and janitorial. IN-PLACE DEBT North Park Corporate Center Phase II is being offered with in-place debt. Additional details regarding existing debt are available on page 17 of this offering memorandum. Building GLA: Acreage: Occupancy: 100%* Parking: Year Built: ,400 SF Building 3-27,000 SF Building 4-27,000 SF Building 5-32,400 SF +/ acres Approximately 4.65:1,000 RSF (402 spaces) (*Pending execution of one lease expansion.) FLOURISHING SAN ANTONIO ECONOMY San Antonio s economy has flourished over the last several years, with robust population and job growth and a boom in commercial activity due to the Eagle Ford Shale oil and gas play. Moody s Economy.com forecasts annual employment growth of 3.0% over the next three years, and Forbes recently named San Antonio one of the best cities in the country for job growth. The city was also among the top five metros in the country for population growth in 2013, gaining more than 25,000 new residents in the last twelve months. San Antonio s location at the crossroads of three interstate highways Interstate 35, Interstate 37 and Interstate 10 and proximity to Mexico will continue to increase the city s role in future international trade. Solid population and job growth, a favorable location for regional and international trade, and low business and living costs all support steady growth for the San Antonio economy. 3

4 N STONE OAK HOLLYWOOD PARK PHASE II - BUILDINGS 3, 4, 5 MCALLISTER PARK DONELLA DR TENANCY OVERVIEW 4 TENANT SUITE SF % OF PROPERTY LEASE EXPIRATION REMAINING LEASE TERM* Marriott WW Reservation Svcs 400,410 27, % Apr years Spectrum Association Mgmt LP 318,320 19, % Oct years Miner Fleet Mgmt Group Ltd.** , % May years Advantage Sales & Marketing , % Mar years Vitromex USA Inc , % May years TOTALS/AVERAGES 86, % 4.6 YEARS * Excluding extension options. ** Terms per extension/expansion amendment under review.

5 FOR MORE INFORMATION: JOHN TAYLOR Managing Director KELSEY ROOP Associate Director PATRICK MCCORD Senior Real Estate Analyst DREW FULLER Real Estate Analyst DISCLAIMER Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp, a Texas licensed real estate broker ( HFF ) HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on HFF has been engaged by the owner of the Property to market it for sale. Information concerning the Property described herein has been obtained from sources other than HFF and we make no representations or warranties, express or implied, as to the accuracy or completeness of such information. Any and all references 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 buyer. Buyers should conduct their own independent investigation and rely on those results. The information contained herein is subject to change. JEREMY WOMACK (DEBT INQUIRIES) Director jwomack@hfflp.com 500 West 5th Street Suite 1200 Austin, Texas