NORTHGATE BUSINESS PARK DALLAS/FORT WORTH, TEXAS 393,862 SQUARE FEET EIGHT PROPERTIES 87.3% LEASED INFILL LOCATION OFFERING SUMMARY

NORTHGATE BUSINESS PARK DALLAS/FORT WORTH, TEXAS 393,862 SQUARE FEET EIGHT PROPERTIES 87.3% LEASED INFILL LOCATION OFFERING SUMMARY

INVESTMENT OVERVIEW HFF has been exclusively retained to offer qualified investors the opportunity to purchase Northgate Business Park (the Portfolio ), an 8-property, 393,862 square foot industrial portfolio which is currently 87.3% leased. The Portfolio consists of well leased, strategically located industrial assets in one of the best cities in the country for both industrial market and economic fundamentals. INVESTMENT MERITS PORTFOLIO ECONOMICS WITH ADDITIONAL UPSIDE Northgate Business Park is currently 87.3% leased to 41 tenants that lease an average of 8,386 square feet. The tenants are involved in a wide variety of industries including third-party logistics, healthcare, marketing, automotive, technical services, wholesale trade and consumer products. There is clear rollover upside as 66.1% of the leased space was signed between 09 12 (total of 227,154 square feet). In addition, the tenant roster has an average remaining lease term of 4.3 years, allowing future ownership the opportunity to increase the rental rates in the near-term as market fundamentals continue to strengthen. PREMIER ACCESS Northgate Business Park is situated just one mile from Interstate 635 (I-635) and is accessible via the Miller Road, Skillman Street or the Forest Lane exit. Access along I-635 in the immediate area has improved dramatically with the recent completion of Phase I of the LBJ TEXpress project that widened a 3.2 mile stretch of I-635 just west of the Portfolio. The LBJ TEXpress is the 16.5 mile expansion of one of the most heavily traveled highways in North Texas that is expected to be fully complete by late 15. NORTHEAST DALLAS INFILL LOCATION Northgate Business Park is located in the infill, established Northeast Dallas industrial market and benefits from its location near significant demand drivers and the major transportation arteries serving the area. Due to the limited supply of infill development sites, there will continue to be an upward pressure on rental rates during the hold period. FUNCTIONAL MULTI-TENANT DESIGN All of the buildings are well-suited for multiple tenants and feature ideal building depths, efficient loading and clear heights, positioning these buildings perfectly for tenant demand. The Portfolio is currently configured with suite sizes ranging from 1,0 square feet to 56,847 square feet, allowing future ownership tremendous flexibility in organically growing the existing tenancy and customizing spaces for market demand. Clear heights for the warehouse buildings range from to 22 which is ideal for the average warehouse suite size of 12,677 square feet. 2

INVESTMENT OVERVIEW STRONG PERFORMANCE FOR SIMILAR VINTAGE BUILDINGS As detailed in the chart below, industrial buildings built before 1990 have consistently outperformed the overall Dallas/Fort Worth industrial market. Pre- 1990 industrial buildings are 93.8% occupied as of 3rd Quarter 14 and have had an average occupancy of 92.6% since 08. ALLEN Average CORRAL CITY Occupancy Year of Construction 3Q 14 Since 08 Lake Lewisville THE COLONY Pre-1990 Industrial Buildings 93.8% 92.6% 1990 to 14 Industrial Buildings 91.9% 88.1% Total DFW Industrial Market 93.1% 91.0% TROPHY CLUB ROANOKE Industrial buildings located in the Northeast Dallas/Garland industrial WESTLAKE HASLET submarket less than 100,000 square feet have also had higher historical occupancy figures. Industrial buildings less than 100,000 square feet are currently 94.4% occupied SOUTHLAKE compared to 87.2% occupied for buildings greater than KELLER100,000 square feet. Functional industrial buildings similar to the Northgate Business Park assets Eagle will continue Mountain to Lake outperform the market as there will always be a demand for industrial space located in prominent infill locations. COLLEYVILLE SAGINAW Average Occupancy BEDFORD Industrial Building Size 3Q 14 Since 08 Buildings <100,000 SF Fort Worth Meacham 94.4% 91.8% HURST Buildings >100,000 SF Airport 87.2% 88.3% Fort Worth Alliance Airport FLOWER MOUND COPPELL CARROLLTON NORTHGATE BUSINESS PARK White Rock Lake BENBROOK WESTOVER HILLS BELT JUNCTION EDGECLIFF VILLAGE FOREST HILL DALWORTHINGTON GARDENS ARLINGTON GRAND PRAIRIE 45 BALCH SPRINGS MESQUITE 3

PORTFOLIO SUMMARY # Building/Address 1 Building 15 Year Built Rentable Area % Leased # of Tenants Average Tenant Size Avg. Remaining Lease Term Office Finish Air Conditioned Space Truck Court Depth 11410 Pagemill Road 1980 48,862 100% 1 48,862 6.7 years +/- % +/- % 100' ' 2 Building 26 11440-11464 Pagemill Road 1981 56,219 100% 8 7,027 3.7 years +/- 21% +/- 21% 75' - 155' ' Clear Height 3 Building 27 11512-11534 Pagemill Road 1981 52,775 91.1% 6 8,011 2.0 years +/- 25% +/- 26% 140' - 190' ' 4 Building 19 114-113 Pagemill Road 1980 16,433 100% 2 8,217 2.7 years +/- 24% +/- 24% 100' - 1' 22' 5 Building 18 113-11370 Pagemill Road 1980 79,257 100% 2 39,629 7.8 years +/- % +/- % 100' - 1' 22' 6 Building 17 9602-96 Chartwell Drive 1980 24,360 78.7% 5 3,834 2.3 years +/- 32% +/- 32% 1' 16' 7 Building 8 9641-9677 Wendell Road 1980 54,327 89.7% 6 8,124 2.2 years +/- 31% +/- 31% 75' 16' 8 Building 9 9712-9790 Skillman Street 1979 61,629 44.0% 11 2,465 1.9 years +/- 75% +/- 76% 75' 14' Totals 393,862 41 Averages 1980 87.3% 8,386 4.3 years +/- 33% +/- 33% 19' 4

NORTHGATE BUSINESS PARK AERIAL N North Central Expressway Abrams Road Interstate 635 Audelia Road Miller Road Dart LBJ/ Skillman Station Skillman Street Forest Lane 19 18 17 15 26 27 8 9 NORTHGATE BUSINESS PARK Plano Road 5

ADDITIONAL INFORMATION Please contact one of the professionals below: RANDY BAIRD Senior Managing Director rbaird@hfflp.com 469.232.1978 JUD CLEMENTS Managing Director jclements@hfflp.com 469.232.1975 ROBBY RIEKE Director rrieke@hfflp.com 469.232.1934 FINANCIAL OVERVIEW RENTABLE AREA: 393,862 square feet PERCENT LEASED: 87.3% APPROXIMATE YEAR-1 NOI: $1,399,000 STEPHEN BAILEY Analyst sbailey@hfflp.com 469.232.1992 www.hfflp.com HFF DEBT CONTACT: ADAM HERRIN Director aherrin@hfflp.com 469.232.1922 Holliday Fenoglio Fowler, L.P. 2323 Victory Avenue, Suite 10 Dallas, TX 75219 Telephone: 214.265.0880 Facsimile: 214.265.9564 OFFERING FORMAT TERMS: No asking price has been established for this Offering OFFER DEADLINE: To be determined PROPERTY TOURS: Available upon request 15 HFF (Holliday Fenoglio Fowler, L.P.) 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 www.hfflp.com or follow HFF on Twitter at www.twitter.com/hff. 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.