Acquisition Criteria

Value-Add & Opportunistic

Geographic Focus: Primary: Southern California, Phoenix, Salt Lake City/Provo, Dallas/Ft. Worth, Austin. Secondary: Reno, Las Vegas and Boise

Product Focus: Grocery Anchored, Tier-1 Neighborhood Centers (E-Commerce Resistant Retail)
and select Multi-Family

Target Returns: 15%+ LIRR or more, depending on the risk profile of the investment

Hold Period: Estimated to be three (3) to five (5) years

Transaction Size: Individual investments between $35 million and $200 million

Core Plus

Geographic Focus: Primary: Southern California, Phoenix, Salt Lake City/Provo, Dallas/Ft. Worth, Austin. Secondary: Reno, Las Vegas and Boise

Product Focus: Grocery Anchored, Tier-1 Neighborhood Centers (E-Commerce Resistant Retail)
and select Multi-Family

Target Returns: 11% to 13% LIRR or more, depending on the risk profile of the investment

Hold Period: Estimated to be five (5) to seven (7) years

Transaction Size: Individual investments between $35 million and $200 million