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COMPANY OVERVIEW The Brookdale Group is a privately held commercial real estate private equity firm founded in 1994 in Atlanta, Georgia. Through its sponsored closed-end investment funds, Brookdale makes commercial real estate investments on behalf of the firm’s principals and institutional co-investment partners. Since its formation, Brookdale has sponsored seven investment funds which have focused on making “value-add” and “near-stabilized” real estate investments (primarily in office properties) located within the Mid-Atlantic, Southeast and Southwest regions of the United States. The Towers at Williams Square Dallas, Texas 1 ABOUT THE BROOKDALE GROUP Since the firm’s formation, Brookdale’s investment funds have made investments totalling more than $2 billion in more than seventy-five Sunbelt properties. The first four Brookdale funds have been fully liquidated, generating total sales revenues in excess of $1 billion for the Brookdale funds and their joint venture partners. Brookdale has been an active investor and investment manager through both strong and weak real estate and capital market cycles, including those markets which accompanied the “S&L crisis” of the early 1990’s, the rapid expansion and subsequent market collapse related to the technology boom in the early 2000’s, the economic turmoil which followed the terrorist attacks of September 11, 2001, the consumerand debt-driven bull market of 2005 through 2007 and, most recently, the financial crisis which precipitated the “Great Recession” of 2008 and 2009. During these times, Brookdale has demonstrated sound judgment and discipline with respect to when to invest, when to sell, and importantly, when to stay on the sidelines. The Brookdale Group has assembled and retained a team of seasoned real estate professionals which now includes seven partners, each of whom has extensive real estate operating and investment experience. The Brookdale partners have an average tenure with the firm of more than nineteen years, and Brookdale’s most recently named partner joined the organization more than fourteen years ago. NOR T HERN VIRGINIA & MARYL AND NASHVI LLE CHARLOT T E ATL ANTA DA L L A S AU S TIN SAN A N TON IO ORL ANDO H OUS TO N TAM PA PALM BEAC H FT L AUDERDALE MIAMI 2 COMPANY HISTORY Headquarters: Atlanta, GA Founded: 1994 Primary Geography: Brookdale Investment Funds Investment Fund Inception Committed Capital U.S. Sunbelt Number of Institutional Investors Status Brookdale Investors I 1994 $75 million 7 Fully Liquidated Brookdale Investors II 1996 $129 million 12 Fully Liquidated Brookdale Investors III 1998 $128 million 12 Fully Liquidated Brookdale Investors IV 2001 $270 million 13 Fully Liquidated Brookdale Investors V 2004 $460 million 21 Active Management Brookdale Investors VI 2009 $410 million 32 Active Management Brookdale Investors VII 2014 $517 million 18 Active Investing 3445 Peachtree Atlanta, Georgia Corporate Center I Fort Lauderdale, Florida 3 INVESTMENT OVERVIEW Institutional Investors Brookdale’s institutional co-investors consist of some of the nation’s best known university endowments, foundations and charitable trusts. Through its seven sponsored investment funds to date, Brookdale has enjoyed a working relationship with a total of 41 such institutional investors, 37 of whom are co-investors in the firm’s three currently active funds. Services Provided The Brookdale Group, LLC and Brookdale Realty Services, LLC provide real estate investment services exclusively to the Brookdale-sponsored investment funds. Among the services provided are identification of investment opportunities, evaluation of prospective investments for conformance with each fund’s objectives, negotiation and consummation of transactions, and ongoing asset management with respect to the funds’ portfolios. Discretion Full investment and liquidation discretion is afforded to the Brookdale affiliate that is the sole general partner of each of the Brookdale-sponsored investment funds. Alignment of Interests To ensure that a sharp investment focus is maintained and that conflicts of interest between Brookdale and its institutional co-investors in each fund are eliminated or minimized, Brookdale has elected not to provide to its investment funds fee-based services such as property management, leasing or construction management. International Place I Fort Lauderdale, Florida 4 INVESTMENT APPROACH Experience-Based Brookdale’s seven partners have spent their entire real estate careers working in the U.S. Sunbelt markets, acquiring, developing, redeveloping, managing, leasing, financing and selling office properties and land. Brookdale’s current investment activities continue to be directed by that geographic and property-type experience. Sharply Focused Brookdale is a focused investor, concentrating its efforts primarily on value-add office properties located in a limited number of primary and secondary target markets in the Sunbelt region of the United States. Brookdale seeks to invest in multiple office properties, diversified by geography and tenant profile. Brookdale also seeks investment opportunities where value can be enhanced through intensive asset management. The Pinnacle Atlanta, Georgia Highly Responsive Brookdale has deliberately maintained the firm’s relatively small size so as to streamline decision-making and enhance asset management effectiveness. Because of the firm’s horizontal organizational structure and experienced management team, Brookdale has the ability to react quickly to investment opportunities and to proceed expeditiously through the evaluation, due diligence and closing phases of a real estate investment transaction. Above all, Brookdale seeks to maintain the firm’s reputation in the industry for its ability to close reliably and quickly on even the most complex transactions. Galleria 300 Atlanta, Georgia 5 SENIOR LEADERSHIP TEAM Charles L. “Chip” Davidson, III Co-founder, Chairman and Chief Executive Officer Brookdale Responsibilities Mr. Davidson is responsible for the formulation and implementation oversight of Brookdale’s investment and disposition strategies, monitoring of existing investments, and tracking of economic, real estate and capital markets trends. Professional Experience Prior to founding Brookdale in 1994, Mr. Davidson spent 16+ years with Houston-based real estate company Hines, where he was the Executive Vice President/Regional Partner responsible for oversight of all investment, development, property management, leasing and asset management activities in Hines’ Southeast Region. Education Mr. Davidson holds a BA in Economics from Davidson College and an MBA from Harvard Business School. Memberships and Civic Involvement Mr. Davidson is a current member and past Chairman of the Board of Directors of the National Association of Real Estate Investment Managers (NAREIM) and is active in several other industry organizations including the Urban Land Institute and the National Association of Industrial and Office Properties (NAIOP). He has addressed numerous real estate groups and conferences and has been a visiting lecturer at educational institutions including Yale University’s School of Management, Harvard Business School, the Goizueta School of Business at Emory University and the Georgia Tech Graduate College of Management. In addition, Mr. Davidson has held leadership roles with numerous local and regional community organizations, and is a founder and past Chairman of the Board of Directors of the Georgia Center for Child Advocacy, a past Chairman of the Board of Directors of the St. Joseph’s Mercy Foundation, a past member of the Georgia State Properties Commission, a former Chairman of the Board of Visitors and former member of the Board of Trustees of Davidson College, a current member of the Shepherd Center Foundation Board of Trustees, a current member of the Honorary Board of Trinity House Community Ministries and a former member of the Executive Committee of Northside United Methodist Church. 6 SENIOR LEADERSHIP TEAM Fred H. Henritze Co-founder, President and Chief Operating Officer Brookdale Responsibilities With respect to Fund V and Fund VI, Mr. Henritze is responsible for the monitoring of existing investments, oversight of leasing activities related to Lakeview West, and formulation and implementation of disposition strategies. With respect to Fund VII, Mr. Henritze is responsible for the formulation and implementation of investment strategy, review of prospective investments, monitoring of real estate markets conditions and due diligence, and oversight of leasing activities related to all investments. Professional Experience Prior to founding Brookdale in 1994, Mr. Henritze spent 10 years with Houston-based real estate company Hines, where he was Vice President of Marketing/Leasing for the Hines Southeast Region. While at Hines, Mr. Henritze developed leasing and marketing plans for individual projects and portfolios, supervised marketing and leasing professionals, and negotiated major tenant leases. Education Mr. Henritze holds a BBA degree from The College of William and Mary. Memberships and Civic Involvement Mr. Henritze is currently a Trustee of The College of William and Mary. Additionally, he is a Board Member of The William and Mary Foundation where he serves on the Foundation’s Investment Committee. 7 SENIOR LEADERSHIP TEAM Seabie W Hickson, III Executive Vice President and Partner Brookdale Responsibilities With respect to Fund V, Mr. Hickson is primarily responsible for asset management, formulation and implementation of operating budgets and disposition strategies, and preparation of internal valuations for all Fund V investments. In addition, Mr. Hickson is responsible for the oversight of documentation related to all investments and financings, monitoring of financing market conditions and offered terms, and establishing and maintaining the company’s financing relationships. Professional Experience Prior to joining The Brookdale Group at its formation in 1994, Mr. Hickson was primarily responsible for the acquisition activities of Hines’ Southeast Region. Mr. Hickson has worked in the finance, development, and investment areas of the real estate industry since 1978. His experience includes development management, asset management, arranging debt and equity capital for investments in a range of different asset classes, and managing the asset disposition process. Education Mr. Hickson holds a BBA and MA/Real Estate Finance from the University of Georgia. 8 SENIOR LEADERSHIP TEAM Dan Ethridge Executive Vice President and Partner Brookdale Responsibilities With respect to Fund VI, Mr. Ethridge shares primary responsibility for asset management of certain Fund VI investments, and the formulation and implementation of disposition strategies for those investments. With respect to Fund VII, Mr. Ethridge shares primary responsibility for the implementation of investment strategy, preparation of financial analyses, conducting market due diligence and management of the pursuit and acquisition process for all prospective investments. Professional Experience Prior to joining Brookdale in 1997, Mr. Ethridge spent three years with the Atlanta office of Compass Management and Leasing, a subsidiary of Equitable Real Estate Management (now Morgan Stanley). Education Mr. Ethridge holds a BBA degree from the University of Georgia. Memberships Mr. Ethridge is a member of the Georgia Chapter of the National Association of Industrial and Office Properties (NAIOP) and a member of the National Association of Real Estate Investment Managers (NAREIM). 9 SENIOR LEADERSHIP TEAM Robert Turner Executive Vice President and Partner Brookdale Responsibilities With respect to Fund V, Mr. Turner shares primary responsibility for the formulation and implementation of disposition strategies and preparation of internal valuations for the University Center land and the Lakeview West office properties. With respect to Fund VI, Mr. Turner shares primary responsibility for asset management of certain Fund VI investments, and the formulation and implementation of disposition strategies for those investments. With respect to Fund VII, Mr. Turner shares primary responsibility for the implementation of investment strategy, preparation of financial analyses, conducting market due diligence and management of the pursuit and acquisition process for all prospective investments. Professional Experience Prior to joining Brookdale in 2001 as an acquisitions analyst, Mr. Turner worked for three years in the Atlanta office of Highwoods Properties, where he was responsible for the leasing of office and industrial properties. Education Mr. Turner holds a BBA degree from the University of North Carolina at Chapel Hill. Memberships Mr. Turner is a member of the board and the 2015 President of the Georgia Chapter of the National Association of Industrial and Office Properties (NAIOP), a full member of the Urban Land Institute (ULI), a graduate of the Urban Land Institute Center for Leadership, and a member of the National Association of Real Estate Investment Managers (NAREIM). 10 SENIOR LEADERSHIP TEAM David Hendrickson Senior Vice President/Controller and Partner Brookdale Responsibilities Mr. Hendrickson is responsible for oversight and quality control with respect to the financial analyses of all prospective investments, monitoring of existing investments, financial reporting to all partners with respect to all Brookdale investment funds, coordination of tax returns preparation and financial audits by third-party CPA firms, and formulation and monitoring of Brookdale’s internal controls, business continuity measures and internal valuations. Professional Experience Mr. Hendrickson is a Certified Public Accountant. He began his career with Arthur Andersen in 1984. Prior to joining Brookdale in 1994, Mr. Hendrickson was a controller with Hines’ Southeast Region. Education Mr. Hendrickson holds BBA and BS degrees from Iowa State University. 11 SENIOR LEADERSHIP TEAM Patrick D. Walsh Senior Vice President/Operations and Partner Brookdale Responsibilities With respect to Fund V, Mr. Walsh has primary responsibility for monitoring/oversight of property management of Lakeview West and University Center. With respect to Fund VI, Mr. Walsh has primary responsibility for monitoring/oversight of property management and operational activities and capital improvement projects at all owned properties. With respect to Fund VII, Mr. Walsh oversees the physical due diligence for all prospective investments, and has primary responsibility for monitoring/oversight of property management and operational activities and capital improvement projects at all owned properties. Professional Experience Prior to joining Brookdale in 1996, Mr. Walsh spent six years with Houston-based real estate company Hines, where he was a property manager in the firm’s Southeast Region. Mr. Walsh served in the U.S. Army from 19841990 in the 11th Armored Calvary Regiment in Fulda, Germany. Education Mr. Walsh holds a BS degree from the U.S. Military Academy at West Point, and an MBA from Georgia State University. Memberships Mr. Walsh is a Certified Property Manager (CPM) and a Certified Commercial Investment Member (CCIM). 12 PREVIOUS INVESTMENT FUNDS Brookdale Investors One, L.P. Brookdale Investors One, L.P. (“Fund I”) was formed in 1994 with $75 million of capital commitments. Fund I acquired the below-listed properties, representing 1,475,195 SF. The entire Fund I portfolio was sold in a single transaction in February 1998. Property Hillsboro Center Provident Building Executive Tower Location Deerfield Beach, FL Greenville, SC Knoxville, TN Square Feet 215,317 46,047 91,977 Atrium at Bent Tree Dallas, TX 111,823 The BelvedereDallas, TX140,981 One Sugar CreekHouston, TX197,048 One Commerce Green Houston, TX 339,592 Lynnwood Plaza Virginia Beach, VA 81,730 Loudoun Plaza Sterling, VA 71,273 Glen Forest Richmond, VA 80,897 Moorefield II Richmond, VA 47,203 Moorefield III Richmond, VA 51,307 Hillsboro Center One Deerfield Beach, Florida One Sugar Creek Houston, Texas 13 Loudoun Plaza Sterling, Virginia PREVIOUS INVESTMENT FUNDS Brookdale Investors Two, L.P. Brookdale Investors Two, L.P. (“Fund II”) was formed in 1996 with $129 million of capital commitments. Fund II made investments in the below-listed properties, representing 1,180,023 SF. The Fund II portfolio was completely liquidated in August 2005. Property Paragon Centre I & II Paragon Place Concourse Lakeside One & Two Location Louisville, KY Louisville, KY Raleigh, NC Square Feet 123,876 83,469 155,247 Acquired or Developed Acquired Acquired Developed MeridianDallas, TX100,283 Acquired Lincoln Place I & II Dallas, TX 297,758 Developed Timberway One Houston, TX 92,142 Acquired Greenbriar Corporate Center Chantilly, VA 111,720 Acquired Dulles Tech Center I & II Herndon, VA 166,821 Developed Stony Point II Richmond, VA 48,707 Acquired Lincoln Place I & II Dallas, Texas Paragon Centre I & II Louisville, Kentucky 14 PREVIOUS INVESTMENT FUNDS Brookdale Investors Three, L.P. Brookdale Investors Three, L.P. (“Fund III”) was formed in 1998 with $128 million of capital commitments. Fund III made investments in the below-listed properties, representing 1,100,861 SF. The Fund III portfolio was completely liquidated in August 2005. Property Ridgeview I, II & III Reserve at Greens Crossing I Reserve at Greens Crossing II Eldridge Place I & II Location Chantilly, VA Houston, TX Houston, TX Houston, TX Square Feet 266,535 157,790 157,790 518,746 Acquired or Developed Developed Developed Developed Acquired Ridgeview I Chantilly, Virginia Eldridge Place I & II Houston, Texas Reserve at Greens Crossing I Houston, Texas 15 PREVIOUS INVESTMENT FUNDS Brookdale Investors Four, L.P. Brookdale Investors Four, L.P. (“Fund IV”) was formed in 2001 with $270 million of capital commitments. Fund IV acquired the below-listed properties, representing 2,688,907 SF. The Fund IV portfolio was completely liquidated in August 2005. Property Location One Resource Square Two Resource Square Three Resource Square International Plaza One International Plaza Two International Plaza Three Hidden River One Hidden River Two Hidden River Three Deerfield Corp. Center One Deerfield Corp. Center Two Satellite Place 300 Satellite Place 400 Satellite Place 600 Satellite Place 700 Satellite Place 800 Three Resource Square Orlando, Florida Orlando, FL Orlando, FL Orlando, FL Tampa, FL Tampa, FL Tampa, FL Tampa, FL Tampa, FL Tampa, FL Atlanta, GA Atlanta, GA Atlanta, GA Atlanta, GA Atlanta, GA Atlanta, GA Atlanta, GA International Plaza Three Tampa, Florida 16 Square Feet 90,667 123,133 154,161 383,618 286,124 290,101 132,360 132,238 150,060 132,606 132,622 132,363 132,700 150,420 132,870 132,864 Hidden River Two Tampa, Florida CURRENTLY ACTIVE INVESTMENT FUNDS Brookdale Investors Five, L.P. Brookdale Investors Five, L.P. (“Fund V”) was formed in 2004 with $460 million of capital commitments. Fund V made investments in the below-listed properties, representing 411,962 SF of office space and 24,073 acres of commercial and non-commercial land. Three of Fund V’s investments have been fully liquidated, including the Lincoln Legacy One office building (which was sold in December 2008), the Lincoln Legacy Two Land (which was sold in July 2013) and the Alamo Parkside Land (which was sold in August 2013), and the remainder of the Fund V portfolio is currently under active asset management and/or active disposition. Property Location Lakeview West Office Development University Center Land Centergy North Land Lincoln Legacy Two Land Horry County Land 211 Midway Land Alamo Parkside Land Mustang Island Land Westland Land Mooresville Land Lincoln Legacy One Office Development Centergy North Land Atlanta, Georgia Dallas, TX Ashburn, VA Ashburn, VA Atlanta, GA Dallas, TX Myrtle Beach, SC Wilmington, NC Houston, TX Port Aransas, TX Athens, GA Charlotte, NC Acres 207,834 SF 204,128 SF 60 Acres 7.15 Acres 2.6 Acres 20,259 Acres 1,439 Acres 1,246 Acres 534 Acres 420 Acres 105 Acres Mustang Island Land (Bay Front) Port Aransas, Texas 17 CURRENTLY ACTIVE INVESTMENT FUNDS Brookdale Investors Six, L.P. Brookdale Investors Six, L.P. (“Fund VI”) was formed in December 2009 with $410 million of capital commitments. Fund VI acquired the below-listed properties which include a total of 15 office buildings containing 3,658,138 SF of office space. Seven of Fund VI’s investments have been fully liquidated, including SunTrust Financial Centre (which was sold in September 2015); The Towers at Williams Square and the four-building Sawgrass Office Portfolio (which were sold in October 2015); and SunTrust Center and Galleria 300 (which were sold in November 2015). The remainder of the Fund VI portfolio is currently under active asset management and/or active disposition. Property Location/Submarket Square Feet The Towers at Williams Square Dallas, TX/Las Colinas SunTrust Center Orlando, FL/CBD 654,618 SunTrust Financial Centre Tampa, FL/CBD 526,854 Galleria 300 Atlanta, GA/Cumberland-Galleria 432,934 Sawgrass Office Portfolio Fort Lauderdale, FL/Sawgrass 348,674 Nottingham Hall Raleigh, NC/RTP 105,830 Trinity Place Raleigh, NC/West Raleigh 114,547 Raleigh, NC/West Raleigh 78,701 Palisades I SunTrust Financial Centre The Towers at Williams Square Dallas, Texas Tampa, Florida 18 1,395,980 SunTrust Center Orlando, Florida CURRENTLY ACTIVE INVESTMENT FUNDS Brookdale Investors Seven, L.P. Brookdale Investors Seven, L.P. (“Fund VII”) was formed in December 2014 with $517 million of capital commitments. At the present time, Fund VII is actively seeking to make investments as follows: Targeted Property Types Existing Value-Add, Opportunistic or Core-Plus Office Portfolios or Single Assets, or To-Be-Developed Office Buildings in Select Submarkets Geographic Preference CBD or Surburban Submarkets in the Mid- Atlantic, Southeast and Southwest regions of the U.S. Building Size 100,000 SF + Building Attributes Class A/B+ Multi-tenantable Minimum Transaction Size $25 Million Maximum Transaction Size $1 Billion Leverage 0 - 65% of Investment Cost Investment Structures Outright Acquisitions Recapitalizations/Joint Ventures Development Joint Ventures 19 777 Main Fort Worth, Texas CURRENTLY ACTIVE INVESTMENT FUNDS Brookdale Investors Seven, L.P. To date, Fund VII has made investments in the below-listed properties, representing 3,364,787 rentable square feet (RSF) of office space, 61,762 RSF of retail space, and 12.8 acres of future development land. Property Location/Submarket Size 777 Main The Pinnacle 3445 Peachtree Mansell Overlook Office Mansell Overlook Retail Mansell Overlook Land Fort Worth, TX/CBD Atlanta, GA/Buckhead Atlanta, GA/Buckhead Alpharetta, GA/North Fulton - GA 400 Alpharetta, GA/North Fulton - GA 400 Alpharetta, GA/North Fulton - GA 400 954,895 RSF 424,350 RSF 286,648 RSF 653,894 RSF 35,862 RSF 12.8 Acres Northwinds Office Northwinds Retail Alpharetta, GA/North Fulton - GA 400 Alpharetta, GA/North Fulton - GA 400 1,045,000 RSF 25,900 RSF 777 Main Fort Worth, Texas The Pinnacle Atlanta, Georgia 20 Mansell Overlook Building 100 Alpharetta, Georgia CURRENTLY OWNED PROPERTIES TEXAS PROPERTIES 777 Main 777 Main is a Class A office building in downtown Fort Worth. The project is situated on approximately 3.22 acres, consisting of all or a portion of four city blocks adjacent to the Sundance Square mixed-use district. Project Facts: Submarket Fort Worth CBD Floors 38 above-grade; 2 below- grade Net Rentable Area 954,895 SF Year Built 1982 Date Acquired 12/2014 Brookdale Fund Brookdale Investors Seven, L.P. 777 Main Mustang Island Land The Property lies within the City Limits of Port Aransas, Texas on Mustang Island. It consists of three contiguous tracts of land totalling approximately 534 gross acres. The Beach Tract contains 100 gross acres and has 1,951 feet of beach frontage on the Gulf of Mexico. The Marina and Canals Tract contains 425 gross acres and has 1.3 miles of frontage on and deep water access to Corpus Christi Bay. The Marina and Canal Tract has PUD zoning in place for both tracts allowing residential, hotel, retail and restaurant development. A USACE Marina Permit provides the ability to construct a commercial marina, approximately 2.2 miles of canals and at least 589 boat slips. There is bay and gulf access through the Flato Cut, and over 1 mile of frontage on State Highway 361. Project Facts: Submarket Port Aransas Land Area 534 acres Beach Frontage 1,951 linear feet Bay Frontage 6,800 linear feet Zoning PUD - Mixed Use Approved Density 2,266 residential units Date Acquired01/2008 Brookdale Fund Brookdale Investors Five, L.P. Area Map 21 CURRENTLY OWNED PROPERTIES GEORGIA PROPERTIES The Pinnacle The Pinnacle is a Class AA office tower in the Buckhead submarket of Atlanta. The project is situated on a 3.74-acre parcel located at the northeast corner of the intersection Peachtree Road and Lenox Road, the location generally considered to be “Main and Main” in one of Atlanta’s healthiest and most active office submarkets. Project Facts: Submarket Buckhead Floors 21 Net Rentable Area424,350 Year Built 1998 Date Acquired 01/2015 Brookdale Fund Brookdale Investors Seven, L.P. The Pinnacle 3445 Peachtree 3445 Peachtree is an exceptionally well-located Class B+ office building in the Buckhead submarket of Atlanta. Immediately adjacent to The Pinnacle, the project is situated on a 2.1-acre parcel located at the intersection of Peachtree Road and Lenox Road, the location generally considered to be “Main and Main” in one of Atlanta’s healthiest and most active office submarkets. Project Facts: Submarket Buckhead Floors 13 Net Rentable Area286,648 Year Built 1969 Date Acquired 01/2015 Brookdale Fund Brookdale Investors Seven, L.P. 3445 Peachtree 22 CURRENTLY OWNED PROPERTIES TEXAS GEORGIA PROPERTIES PROPERTIES (continued) Mansell Overlook Mansell Overlook is a seven-building master-planned mixed-use project located at the northwest and southwest corners of the intersection of Mansell Road and Westside Parkway in the North Fulton/GA 400 submarket of Atlanta, Georgia. Situated on an approximately 67-acre site, the project consists of four six-story Class A office buildings, three one-story retail buildings, and two pad sites entitled for future development. Project Facts: Aerial View of Mansell Overlook Submarket Office Buildings Floors Retail Buildings Floors Net Rentable Area Years Built Retail Site Land Area Office Site Land Area Date Acquired Brookdale Fund North Fulton/GA 400 4 6 3 1 689,756 1996 - 2005 1.7 acres 11.1 acres 08/2015 Brookdale Investors Seven, L.P. Northwinds Northwinds is a nine-building master-planned mixed-use project located in the North Fulton/GA400 submarket of Atlanta, Georgia. Situated on an approximately 66-acre site, the project consists of seven six-story Class A office buildings, one two-story retail building, and one restaurant building. Project Facts: Submarket Office Buildings Floors Retail/Restaurant Buildings Floors Net Rentable Area Years Built Date Acquired Brookdale Fund Aerial View of Northwinds I, II, III, IV, V, & VI 23 North Fulton/GA 400 7 6 2 2 1,070,900 1997 - 2000 07/2016 Brookdale Investors Seven, L.P. CURRENTLY OWNED PROPERTIES TEXAS GEORGIA PROPERTIES PROPERTIES (continued) Westland Land Westland is a 420-acre land tract located 10 miles west of Athens, Georgia near the intersection of State Road 53 and U.S. Highway 78. The Property consists of 253 acres of partially developed residential and commercial land and a 167-acre forested area designated as a preservation area. The property borders the Apalachee River and includes 8 streams and associated wetlands within the preservation area. These streams will be restored in accordance with a mitigation bank permit obtained from the United States Army Corps of Engineers. Project Facts: Submarket Athens Land Area 420 acres ZoningR-1 MPD Approved Density 380 Residential Units, 26 Acres Commercial Mitigation Bank 76,000 Stream Credits, 58 Wetland Credits Date Acquired 12/2007 Brookdale Fund Brookdale Investors Five, L.P. Aerial Photo of Westland 24 CURRENTLY OWNED PROPERTIES SOUTH CAROLINA PROPERTIES Horry County Land The Horry County Land consists of 14 discreet ownership ventures which collectively own a total of 20,259 acres. With greater than 13 miles of river frontage as well as common borders with nature preserve land, this portfolio offers multiple recreational, housing and investment opportunities. 13 of the 14 parcels are located within 15 minutes of the beaches in and around Myrtle Beach. Project Facts: Land Area20,259 acres Remaining Land Area 18,964 acres Number of Parcels 14 Remaining Number of Parcels 13 Date Acquired 06/2008 Brookdale Fund Brookdale Investors Five, L.P. Horry County Parcel Map 25 CURRENTLY OWNED PROPERTIES NORTH CAROLINA PROPERTIES 211 Midway Land 211 Midway Land is located along and north of Highway 211, less than one mile from the intersection of Highway 211 and Midway Road. The state of North Carolina has completed construction on the extension of Midway Road (including a new bridge) across the Intercoastal Waterway to Oak Island, thus enabling traffic from US Highway 17 to have convenient beach access via Midway Road. Project Facts: Location Wilmington Total Land Area 1,439 acres Zoning R-7500 Operating Partner Palmetto Land Investment Company Date Acquired 09/2007 Brookdale Fund Brookdale Investors Five, L.P. Aerial Photo Looking South Toward Ocean Mooresville Land The Mooresville Land is located at the intersection of Rocky River Road and State Highway 3 in the town of Mooresville, 30 miles north of Charlotte North Carolina. The investment consists of two adjacent land parcels of 55 and 50 acres. These are two of only remaining undeveloped residential parcels with existing sewer in the Coddle Creek submarket. The nearby newly constructed Mooresville elementary and middle schools are a major draw for new home buyers. Project Facts: Location Charlotte Total Land Area 105 acres Zoning CU-RI5 PRC Operating Partner DuBose Commercial Real Estate Services, LLC Approved Density 237 Single Family Lots Date Acquired 03/2007 Brookdale Fund Brookdale Investors Five, L.P. Aerial Photo 26 CURRENTLY OWNED PROPERTIES VIRGINIA PROPERTIES Lakeview West Office Development Lakeview West is an office development which consists of two completed office buildings each totalling 102,064 square feet. The development is part of the master planned, mixed-use park known as University Center in Loudoun County, Virginia. Project Facts: Submarket Route 28 North Buildings2 Floors4 Net Rentable Area 204,128 SF Year Built 2008 Brookdale Fund Brookdale Investors Five, L.P. Lakeview West Buildings University Center Land The University Center Land is a master-planned, mixed-use park consisting of office, hotel and retail uses and future development sites. Project Facts: Submarket Land Area Remaining Land Area Date Acquired Brookdale Fund University Site Plan 27 Route 28 North 60 acres 24.4 acres 12/2005 Brookdale Investors Five, L.P. CURRENT INVESTMENT STRATEGY Currently Targeted Investments Although Brookdale will consider real estate or real estate-related investments located anywhere in the United States, the firm’s current investment focus is on existing and to-be-developed, CBD and suburban office properties or portfolios located in the MidAtlantic, Southeast and Southwest regions of the United States (the “Sunbelt”). Current Geographic Focus Brookdale has identified 14 Sunbelt cities as those which are currently of primary interest to the firm for investment purposes. Brookdale has further identified 64 submarkets within those 14 cities where existing market conditions best fit the firm’s Current Investment Criteria. SunTrust Center Orlando, Florida Equity Capital and Debt In the firm’s currently active investment fund, Brookdale Investors Seven, L.P., Brookdale has approximately $517 million of equity capital which is available for immediate investment. If debt is to be utilized in connection with an investment, Brookdale will arrange such debt at levels typically ranging from 50-65% of total investment cost. Brookdale Sunbelt Markets Investment Structures There are three primary investment structures through which Brookdale is currently investing: 1. Outright acquisitions of existing individual Sunbelt office properties or office portfolios. 2. Recapitalizations of office properties or office portfolios through investments in joint ventures or similar strategic relationships with proven office developers/operators. 3. Joint ventures with proven office developers for the purpose of developing one or more new office buildings. The Towers at Williams Square Dallas, Texas 28 CURRENT INVESTMENT CRITERIA Targeted Property Types Existing Value-Add, Opportunistic or Core-Plus Office Portfolios or Single Assets, or To-Be-Developed Office Buildings in Select Sub-Markets Geographic Preference CBD or Suburban Submarkets in the Mid-Atlantic, Southeast and Southwest regions of the U.S. Building Size 100,000 SF + Building Attributes Class A/B+ Multi-tenantable Minimum Transaction Size $25 Million Maximum Transaction Size $1 Billion Leverage 0 - 65% of Investment Cost Investment Structures Outright Acquisitions Recapitalizations/Joint Ventures Development Joint Ventures Contacts Dan Ethridge Executive Vice President 404-364-8080 [email protected] Robert Turner Executive Vice President 404-364-8080 [email protected] 29 CURRENT TARGET MARKETS Brookdale has identified 14 Sunbelt cities which are of primary interest for investment properties, and the firm has further identified 64 submarkets within those 14 cities where existing market conditions best fit the firm’s current investment criteria. Visit our website at www.BrookdaleGroup.com for city maps of all Brookdale Target Submarkets. 30 CONTACT INFORMATION The Brookdale Group Address 3455 Peachtree Rd., NE Suite 650 Atlanta, GA 30326 Phone: (404) 364-8080 Fax: (404) 364-8099 Website: www.BrookdaleGroup.com The Brookdale Group is located in The Pinnacle building, in the Buckhead area of Atlanta, Georgia. Peachtree/Lenox Vicinity Atlanta, Georgia 31