DALLAS, TX PREMIER MIXED-USE DEVELOPMENT

INVESTMENT OVERVIEW Quadrangle (the "Property") presents prospective investors with a unique opportunity to control a highly walkable, urban, 3.8-acre development in the center of Uptown Dallas with a reliable income stream due to quality occupancy, below-market rents, and long-term redevelopment potential. One of Dallas premier mixed-use developments encompassing approximately 194,332 square feet (one 8-story office tower, six unique one- or two-story retail and creative office buildings) Rare opportunity due to scarcity of Uptown, mixed-use trades and land sites of significance ON Upside potential through capitalizing on rollover rents within the next three years that are nearly 40% below market One of the top millennial destinations in the U.S. (according to Mayflower) due to Uptown s Urban Playground image that the submarket has come to embody Unmatched accessibility to upscale residential developments and a multitude of retail amenities Dynamic, highly sought-after location places Quadrangle at the epicenter of Uptown Dallas with immediate access to the Katy Trail, McKinney Avenue, State Thomas neighborhood, West Village and the Park Cities Continued densification of Uptown with 30% population growth since 2010 and 145,000+ in-place jobs 2

DOWNTOWN THE JORDAN MCKINNEY & OLIVE ROLEX BUILDING THE CRESCENT THE ASHTON E UPTOWN 3

PROPERTY DESCRIPTION Address 2800 2828 Routh Street Dallas, TX 75201 Site Size 3.8 acres / 165,528 square feet Year Built/Renovated Office Tower 1985 /2014-2017 Creative Office 1985 Retail 1965 / 1985 PROPERTY SUMMARY Component SF Occupancy Office Tower 128,905 98.7% Creative Office 21,443 47.4% Retail 43,984 96.6% Total 194,332 92.6% PARKING SUMMARY Parking Area No. of Spaces Retail Surface Parking 99 Office Subterranean Parking 227 Garage Parking* 181 Total Parking Spaces 514 Total Parking Ratio 2.61 / 1,000 SF *Garage Parking spaces located in the neighboring AMLI Quadrangle garage via long-term lease agreement 5

93 WALKABILITY SCORE WALKER S PARADISE 6

INVESTMENT HIGHLIGHTS COVETED, WALKABLE LOCATION Unmatched accessibility to a multitude of renowned amenities & developments, including over 75 walkable restaurants, 6,500+ multi-family units under construction & 48,600+ existing units Desired location due to convenience and ease-of-access via Cedar Springs Road and McKinney Avenue Proximity to Dallas most prestigious and affluent demographic areas the Park Cities less than 3 miles away High barriers to entry in the most sought-after location due to lack of available sites and rising land costs well over $300 PSF 7

OFFICE MARKET Uptown, Dallas most infill office submarket, is anchored by the city s least rate-sensitive tenants. The Quadrangle Office Tower is 99% leased to a diverse, creditworthy tenant roster, including: $35.00 $30.00 $25.00 $20.00 $15.00 $10.00 $5.00 $0.00 91% Uptown 90% Central Expressway 87% Far North Dallas 86% Las Colinas 85% Richardson/ Plano 92% 91% 90% 89% 88% 87% 86% 85% 84% 83% 82% 81% Office Rental Rate (NNN) Office Occupancy Uptown s attractive market fundamentals and unparalleled rent premium presents investors with the opportunity to push in-place rental rates and capture further NOI growth. 8

TACOS AND TEQUILA $45.00 $40.00 $35.00 $30.00 $25.00 $20.00 $15.00 97% 96% 96% 94% 96% 98% 97% 96% 95% 94% RETAIL MARKET Several retail and restaurant establishments have chosen Quadrangle as their first and only Dallas location, boasting average sales of over $430 PSF (2016). $10.00 93% Uptown N Central Dallas Parc Cities Far North Dallas Ret Mid-Cities Ret Retail Rental Rate (NNN) Retail Occupancy With a weighted average lease term of 4.9 years, combined with the consistent demand and limited available retail space in Uptown, Quadrangle retail square footage presents investors with a rare investment opportunity with upside. 9

200K POPULATION WITHIN THREE MILES 48K MULTIFAMILY UNITS WITHIN UPTOWN & OAK LAWN/ PARK CITIES SUBMARKET 25% GROWTH IN MULTIFAMILY (10,000 UNITS) WITHIN THE IMMEDIATE TRADE AREA OVER PAST 24 MONTHS 65K DAYTIME EMPLOYEES WITHIN THE IMMEDIATE TRADE AREA HARWOOD NO. 10 $175K AVER AGE HOUSEHOLD INCOME SOME OF THE HIGHEST MEDIAN HOME VALUES IN ALL OF DFW ROLEX BUILDING BLUE CIEL

URBANIZATION ON ALL SIDES The recent and on-going development surrounding Quadrangle validates the continued densification and high-demand of the area. MULTIFAMILY / RESIDENTIAL OFFICE MIXED-USE HOTEL RETAIL THE KATY BLUE CIEL MODERA TURTLE CREEK MAGNOLIA STATION HARRY HINES BLVD HARWOOD NO. 10 MAPLE AVE HILLWOOD HEADQUARTERS TURTLE CREEK BLVD THE 23 CINEPOLIS LUXURY CINEMAS THE UNION MCKINNEY AVE KLYDE WARREN PARK ROLEX BUILDING CEDAR SPRINGS RD THE CRESCENT PARK DISTRICT WHOLE FOODS GABLES MCKINNEY 28TWENTYEIGHT ALEXAN KATY TRAIL M-LINE TOWER MODERA HOWELL CENTRAL MARKET CANOPY BY HILTON FOREST CITY CITYPLACE APARTMENTS

UPSIDE ENHANCEMENT OPPORTUNITIES Strong mark-to-market play upon lease expirations, significantly increasing rental revenue Advantageous zoning allowing for alternative uses Attractive cost basis relative to site acreage with almost four contiguous acres in the heart of Uptown 12

DFW ECONOMIC OVERVIEW ONE OF THE MOST DIVERSE ECONOMIES IN THE U.S. 0% STATE INCOME TAX & AN UNEMPLOYMENT RATE OF APPROXIMATELY 4% LED THE NATION IN JOB CREATION FOR 2016 WITH 135,400 NEW JOBS 14

8TH LARGEST MILLENNIAL POPULATION IN THE UNITED STATES FROM 2017 TO 2021, THE DFW MSA IS EXPECTED TO RANK FIRST AND SECOND NATIONALLY IN POPULATION AND JOB GROWTH, RESPECTIVELY DFW CLASS A OFFICE MARKET LED THE UNITED STATES IN ABSORPTION IN 2015 & 2016 15

CONTACTS ANDREW LEVY Senior Managing Director alevy@hfflp.com 469.232.1961 ACQUISITION DEBT INFORMATION STEVE HELDENFELS Managing Director sheldenfels@hfflp.com 469.232.1924 TODD SAVAGE Managing Director tsavage@hfflp.com 469.232.1930 CHRIS MURPHY Director cmurphy@hfflp.com 469.232.1941 RYAN SHORE Managing Director rshore@hfflp.com 469.232.1919 2323 Victory Avenue, Suite 1200 Dallas, TX 75219 214-265-0880 214-265-9564 www.hfflp.com 2017 Holliday Fenoglio Fowler, LP ( HFF ) and HFF Securities LP ( HFFS ) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 24 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, advisory services, structured finance, private equity, loan sales, and commercial loan servicing. Holliday Fenoglio Fowler, L.P. ( 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.