Acquisition Criteria

Value-Add & Opportunistic

Geographic Focus: Southern California, Phoenix, Reno and Austin

Product Focus: Multi-family, Industrial and select well located retail investments

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 $25 million and $250 million

Core Plus

Geographic Focus: Southern California, Phoenix, Reno and Austin

Product Focus: Multi-family, Industrial and select well located retail investments

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 $25 million and $250 million