ODESSA, TEXAS OFFERING SUMMARY

ODESSA, TEXAS OFFERING SUMMARY

INVESTMENT OVERVIEW HFF is pleased to exclusively offer Winwood Town Center (the Property or the Center ), a 365,559 square-foot dual grocery-anchored center located in Odessa, Texas. Currently 100% leased to an impressive line-up of tenants, including anchors HEB Grocery and Target. The property features in-place leases 20.5% below market and two development opportunities for future NOI growth. Located in the heart of Odessa s most desired retail corridor, Winwood Town Center is strategically positioned at the intersection of E. 42nd Street (40,000 VPD) and N. Grandview Avenue (23,000 VPD). The Property s strong occupancy, exceptional tenant performance and location provide the foundation for sustained long-term value appreciation. 3801-3915 EAST 42 ND STREET ODESSA, TX 79762 97.3% OCCUPIED (100% LEASED) 365,559 SF BUILT IN 1987-2002 MAJOR TENANTS Tenant SF % GLA Tenant Retention Nearest Location Credit Rating Target 125,400 34.3% 14 Years 17 Miles A+ HEB 93,644 25.6% 17 Years 5 Miles - Ross 30,187 8.3% 13 Years 18 Miles A- dd s DISCOUNTS 25,000 6.8% - 263 Miles A- Office Depot 19,580 5.4% 20 Years 19 Miles B1 Michaels 19,294 5.3% 19 Years 18 Miles B1

INVESTMENT HIGHLIGHTS EXCEPTIONAL TENANCY DUAL GROCERY ANCHORED Winwood Town Center presents investors a unique opportunity to acquire a dual grocery-anchored center leased to Target and HEB. TENANT RETENTION Winwood Town Center s tenancy features an average occupancy of approximately 15 years. In 2011 HEB expanded their premises, adding an additional 19,488 square feet, as a result of the successful sales performance of the location and explosive growth in the trade area population. Over 75% of current tenants have executed a renewal at the Property. NATIONAL TENANCY Over 97% of the center s occupancy and 93% of the base rental income stream is attributable to national and regional tenants. STABLE CASH FLOW WITH UPSIDE POTENTIAL Despite being 100% leased to a mix of national tenants, the Property features attractive enhancement opportunities for investors to increase the Property s NOI as follows: ADDITIONAL DEVELOPMENT OPPORTUNITIES 5,000 square foot pad opportunity along 42nd Street 7,000 square foot inline space opportunity MARK-TO-MARKET OPPORTUNITIES In-place rates 20.5% below market Multiple suites have been recently backfilled with national credit tenants at significant leasing spreads Leasing Spread Analysis Tenant Profile % Increase in Rental Rate Junior Anchors 16% Outparcels 56% Inline Space 20% Recent Leases Previous Tenant New Tenant % Increase in Rental Rate Hastings dd's DISCOUNTS 38% Office Depot AutoZone 61% BBVA BBVA (renewal) 39% Big 5 Sports Confidential National Tenant LOI 10%

DYNAMIC LOCATION DEMOGRAPHICS The Midland-Odessa statistical area was the fastest growing region in the United States for the past five years with population growth over 33% (U.S. Census Bureau) and is expected to grow over 12% from 2017-2021 (Nielson Demographics). Immediate consumer base features substantial disposable income through the combination of: Average household income within a 10-mile radius of the Property is approximately $81,000. Odessa features a cost of living index of 90 RETAIL CENTER OF GRAVITY Enhancing the Property s regional draw, Winwood Town Center is situated with exceptional visibility and ease-of-access onto I-20 and direct access onto Highway 191, the main thoroughfare between Midland and Odessa. Located at the epicenter of Odessa s busiest intersections, 42nd Street and Grandview Avenue, Winwood Town Center is exposed to over 65,000 vehicles per day. Additionally, the Property is strategically positioned within the dense 42nd Street retail corridor, which encompasses over 38% of Odessa s retail square footage. The two attributes combined afford Winwood Town Center a regional draw. Chimney Rock Shopping Center 285,000 SF University of Texas Permian Basin +4,000 Students Music City Mall 850,000 SF East 42nd St - 40,000 VPD Penbrook St- 2,700 VPD Chase Office Building 122,730 SF / 95.4% Leased Grandview Ave - 23,000 VPD Permian High School 3,400 Students

PERMIAN BASIN OVERVIEW In November 2016, the USGS discovered 20 billion barrels of oil in the Wolfcamp Shale, almost 3x larger than North Dakota s Bakken Formation, making the find the largest continuous oil and gas deposit ever discovered in the United States. $70 $65 $60 $55 $50 $45 BREAK EVEN POINT ($/BARREL) Permian Basin Wattenberg Eagle Ford West Delaware Basin Bakken 60% OF TEXAS CRUDE PRODUCTION 16% OF U.S. CRUDE PRODUCTION 50% OF ACTIVE RIGS IN TEXAS 25% OF ACTIVE RIGS IN THE NATION RANKED #3 46% OF U.S. s $30.8B SPENT ON M&A IN U.S. EXPLORATION AND PRODUCTION SECTOR 110 BASIS POINT DECREASE IN UNEMPLOYMENT RATE IN LAST 3 MONTHS LOWEST IN JOB GROWTH (ODESSA) BREAK-EVEN POINT AMONG (2016) ALL U.S. DRILL SITES

GRANDVIEW AVENUE - 23,000 VPD Fuel 04 93,644 SF PENBROOK STREET 050607 08 09 10 11 12 19,294 SF 17 National Tenant LOI GL 13 10,000 SF 02 13A 30,187 SF 13B 13C 03 14 25,000 SF 15 125,400 SF FS1 19 Proposed 5,000 SF Suite Tenant SF FS1 Jack in the Box 3,000 Fuel H-E-B Fuel Station - GL Chick-Fil-A 4,549 02 Taco Bell 2,159 03 Compass Bank 2,400 04 H-E-B 93,644 05 Sally Beauty Supply 1,400 06 BJ Luxury Nails 1,400 07 The Cash Store 1,400 08 Michael s 19,294 09 Variety Gift Shop 1,645 10 Pro Snips 2,010 11 Leslie s Pool Supplies 3,800 12 Eyemart Express 4,000 13 Big 5 (Dark) 10,000 13A Ross 30,187 13B Western Beverages 2,063 13C Gamestop 2,000 14 dd s DISCOUNTS 25,000 15 Target 125,400 16A AutoZone 8,628 16B Office Depot 19,580 17 Rapid Lube 2,000 18 Proposed 7,000 19 Proposed 5,000 18 Proposed 7,000 SF 16B 19,580 SF 16A WENDOVER AVENUE Occupied Proposed Leased EAST 42ND STREET - 40,000 VPD ADDITIONAL INFORMATION If you have any questions or require additional information, please contact any of the individuals below. RYAN SHORE, Managing Director, rshore@hfflp.com 469.232.1919 BARRY BROWN, Senior Managing Director, bbrown@hfflp.com 469.232.1968 JIM BATJER, Senior Managing Director, jbatjer@hfflp.com 469.232.1970 PARKER SHERRILL, Analyst, psherrill@hfflp.com 469.232.1954 PHOEBE BRENT, Analyst, pbrent@hfflp.com 214.692.4714 2323 Victory Avenue, Suite 1200 Dallas, TX 75219 Telephone: 214-265-0880 Facsimile: 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 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, 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.