UNIVERSITY OF TEXAS MEDICAL BRANCH 195 N. 11th Street, Beaumont, Texas 77702

Exclusively Offered By: ED COLSON, JR. CCIM 619.546.0121 [email protected] CA Lic #01382996 | TX Lic #635820 InvestCoreCommercial.com OFFERING STATEMENT / DISCLAIMER

InvestCore Commercial presents this Offering which to the recipient. This Offering does not constitute a limited herein are called the “Contents”), are of a has been prepared by InvestCore Commercial for use representation that there has been no change in the confidential nature. by a limited number of parties and does not purport business or affairs of the Property or the Owner since to provide a necessarily complete summary of the the date of preparation of the package. Analysis By accepting the package, you agree (i) to hold and Property or any of the documents related thereto, nor and verification of the information contained in this treat it in the strictest confidence, (ii) not to photocopy does it purport to be all-inclusive or to contain all of package is solely the responsibility of the prospective or duplicate it, (iii) not to disclose the package the information which prospective investors may need purchaser. Additional information and an opportunity or any of the contents to any other entity (except or desire. All projections have been developed by to inspect the Property will be made available upon to outside advisors retained by you, if necessary, InvestCore Commercial, the Owner, and designated written request to interested and qualified prospective for your determination of whether or not to make a sources and are based upon assumptions relating investors. proposal and from whom you have obtained an to the general economy, competition, and other agreement of confidentiality) without the prior written factors beyond the control of the Owner and, Owner and InvestCore Commercial each expressly authorization of Owner or InvestCore Commercial, therefore, are subject to variation. No representation reserve the right, at their sole discretion, to reject any (iv) not use the package or any of the contents in is made by InvestCore Commercial or Owner as to and all expressions of interest or offers regarding any fashion or manner detrimental to the interest of the accuracy or completeness of the information the Property and/or terminate discussions with any Owner or InvestCore Commercial, and (v) to return it contained herein, and nothing contained herein is, or entity at any time with or without notice. Owner to InvestCore Commercial immediately upon request shall be relied on as, a promise or representation as shall have no legal commitment or obligation to any of InvestCore Commercial or Owner. to the future performance of the Property. Although entity reviewing this Offering or making an offer to the information contained herein is believed to be purchase the Property unless and until a written If you have no further interest in the Property, correct, Owner and its employees disclaim any agreement for the purchase of the Property has been please return this Investment Offering forthwith. responsibility for inaccuracies and expect prospective fully executed, delivered, and approved by Owner purchasers to exercise independent due diligence in and its legal counsel, and any conditions to Owner’s verifying all such information. Further, InvestCore obligations thereunder have been satisfied or waived. Commercial, Owner, and its employees disclaim any InvestCore Commercial is not authorized to make any InvestCore Commercial, Inc. and all liability for representations and warranties, representations or agreements on behalf of Owner. 315 S. Coast Highway 101, Suite U240 expressed and implied, contained in, or for omission This Offering and the contents, except such information Encinitas, CA 92024 from, this Investment Offering or any other written or which is a matter of public record or is provided in oral communication transmitted or made available sources available to the public (such contents as so

195 N. 11th Street, Beaumont, Texas 77702 InvestCoreCommercial.com TABLE OF CONTENTS

Investment Summary 4

Executive Summary Income & Expense Investment Highlights

Property Description 10

Street Map Aerials

Area Overview 13

About UTMB Health About Beaumont About Houston MSA Demographics

195 N. 11th Street, Beaumont, Texas 77702 InvestCoreCommercial.com INVESTMENT SUMMARY

Largest Magnet hospital between Houston and Baton Rouge Executive Summary Income & Expense Investment Highlights

11TH STREET - 17,080 CPD

SUBJECT PROPERTY

195 N. 11th Street, Beaumont, Texas 77702 InvestCoreCommercial.com INVESTMENT SUMMARY EXECUTIVE SUMMARY

Property Information

Board of Regents of The University of Texas System, for the use and TENANT benefit of The University of Texas Medical Branch

CREDIT RATING S&P: AAA, Moody’s: Aaa, Fitch: AAA (U.T. System)

ADDRESS 195 N. 11th Street, Beaumont, TX 77702

~13,255 SF (11,172 SF with 2,083 SF of Expansion Space currently BUILDING SIZE used for storage but can be used for expansion upon UTMB growth)

LAND SIZE ~38,768 SF (To be confirmed by Buyer)

YEAR REMODELED 2018

RENT COMMENCEMENT August 1, 2018

LEASE EXPIRATION July 31, 2028

OPTIONS Four (4) 5-year options

LEASE TYPE Fee simple NNN land and building

RENT INCREASES 5% increase every 5 years

Asking Terms PRICE $5,965,000 NET OPERATING INCOME2 $357,670 CAP RATE 6%

195 N. 11th Street, Beaumont, Texas 77702 InvestCoreCommercial.com INVESTMENT SUMMARY RENT SCHEDULE / INCOME & EXPENSE

RENT SCHEDULE

Term Years Date of Increase Annual Rent % Increase

Primary 1-5 $357,670

Primary 6-10 9/2023 $375,553 5%

Option 1 11-15 9/2028 $394,331 5%

Option 2 16-20 11/2029 $414,048 5%

Option 3 21-25 11/2034 $434,750 5%

Option 4 26-30 11/2039 $456,488 5%

INCOME & EXPENSE

INCOME

Base Rent $357,670

Additional Rent $46,125

TOTAL INCOME $403,795

EXPENSES

Real Estate Taxes $25,278

Insurance $13,565

CAM $7,282

TOTAL EXPENSES $46,125

(1) - Additional Rent and Expenses are based upon the Operating NET OPERATING INCOME $357,670 Expense estimates per the Lease Agreement. Landlord will notify Tenant of estimated Operating Expenses each calendar year.

195 N. 11th Street, Beaumont, Texas 77702 InvestCoreCommercial.com INVESTMENT SUMMARY LEASE ABSTRACT

Operating Expenses: Landlord Responsibilities: Additional rent is to be paid by Tenant in addition to Base Rent and is calculated on Landlord responsible for the roof, foundation and structural soundness of building. Landlord’s best good-faith estimate of Landlord’s Operating Expenses. Within 120 Subject to reimbursement by Tenant, Landlord shall maintain exterior doors, windows days following the close of each calendar year, Landlord shall provide Tenant all and maintain the parking lot to be subject and part of the Operating Expenses for computations of Additional Rent. calculating Additional Rent (collectively Structural and Mechanical Elements).

The term Opearting Expenses includes all reasonable costs incurred by Landlord with Tenant Responsibilities: respect to maintaining of the Property, including , but not limited to: maintenance Tenant shall maintain, replace and repair the HVAC, plumbing and the interior of and repair costs, security, window washing, trash and snow and ice removal, the Leased Premises, except the Structural and Mechanical Elements listed above. landscaping, a management fee, not to exceed 5% of base rentals, parking and Common Area, Administrative Fee not to exceed 15% of the operating expenses. Estoppel Certificate: Within 30 days of written request. Funding Contingency: This Lease is made contingent upon the continuation of the availability of funds Right of First Refusal: designated or appropriated to pay for the Lease. In the event the funds become Tenant shall have 20 business days to exercise its ROFR. unavailable, Tenant shall have the right to terminate the Lease upon 30 days prior written notice to Landlord. However, if so terminated, Tenant must pay Landlord a Expansion Space: cancellation fee. INQUIRE WITH BROKER FOR DETAILS. In the event Tenant expands into the Expansion Space and utilizes for its day-to-day operations (and not storage), Base Rent shall be increased based on the 2,083 SF Utilities: at the same rate per square foot (both Base Rent and Additional Rent) Tenant agrees at its sole cost and expense to furnish all utilities.

195 N. 11th Street, Beaumont, Texas 77702 InvestCoreCommercial.com INVESTMENT SUMMARY INVESTMENT HIGHLIGHTS

Financially Sound Tenant – Highest Credit Ratings By All 3 Rating Agencies

• The U.T. System has the highest possible rating levels by all 3 rating agencies for both long-term and short-term debt. • Over $2.25B in Total Revenue (FY2018) • UTMB has a $3.3 billion annual statewide economic impact • Total Endowments of over $573M (FY2018)

COVID-19 & Internet Resistant Tenant • Tenant provides an Essential Service and has remained open for business and paying rent. • UTMB is resistant to ecommerce, like Amazon, providing long term security to any landlord.

Newly Redeveloped Building and Improvements

• Tenant and Landlord spent over $3M in the redevelopment of the existing building. • Tremendous security with the tenant’s significant investment into the building and tenant improvements

Highly Recognized Tenant With 125+ Year History in Texas

• Since opening in 1891, UTMB has stood with Texas serving as a major provider of health care for Texans and their families; and innovating the future of how care is delivered. • What began as one hospital and medical school building in Galveston is now a major academic health sciences center of global influence.

195 N. 11th Street, Beaumont, Texas 77702 InvestCoreCommercial.com INVESTMENT SUMMARY INVESTMENT HIGHLIGHTS

High Traffic Counts

• 132,577 cars per day along Interstate 10

• 22,380 cars per day at the signalized intersection

Medical District • UTMB is situated directly in the middle of a Medical District housing a number of local and regional medical facilities, offices and hospitals.

• CHRISTUS Southeast Texas Hospital – Largest Magnet hospital between Houston and Baton Rouge.

• Baptist Hospitals of Southeast Texas – Served Southeast Texas for over 65

Well Located - Excellent Demographics

• UTMB is ideally located just west of Interstate 10 and benefits from its location near the highway situated at the signalized intersection of two major thoroughfares.

• Benefits from its densely populated trade area with 111,484 people within the 5-mile radius.

Brand New Long-Term NNN Lease

• An investor will benefit from the long term, 10-year, NNN lease.

• Minimal Landlord responsibilities, ideal opportunity for any passive investor.

195 N. 11th Street, Beaumont, Texas 77702 InvestCoreCommercial.com PROPERTY DESCRIPTION

Street Map Aerial

195 N. 11th Street, Beaumont, Texas 77702 InvestCoreCommercial.com PROPERTY DESCRIPTION STREET MAP

195 N. 11th Street, Beaumont, Texas 77702 InvestCoreCommercial.com PROPERTY DESCRIPTION AERIAL

Largest Magnet hospital between Houston and Baton Rouge 132,577 CPD SUBJECT 10 PROPERTY 11TH ST - 17,080 CPD - 17,080 11TH ST Gateway Shopping Center

Served Southeast Texas for over 65 Years

195 N. 11th Street, Beaumont, Texas 77702 InvestCoreCommercial.com AREA OVERVIEW

About UTMB About Beaumont About Houston MSA Demographics

195 N. 11th Street, Beaumont, Texas 77702 InvestCoreCommercial.com AREA OVERVIEW ABOUT UTMB HEALTH

WWW.UTMBHEALTH.COM of illness and injury; serving as a major provider of health institutes for advanced study; a major medical library; a • Highest Investment Grade credit rating by care for Texans and their families; and innovating the network of hospitals and clinics that provide a full range all 3 rating agencies future of how care is delivered. of primary and specialized medical care; and numerous research facilities. UTMB is a part of The University of • Over $2.25B in Total Revenue (FY2018) UTMB opened in 1891 as the nation’s first public medical Texas System and a member of the Texas Medical Center. • UTMB has a $3.3 billion annual statewide economic school and hospital under unified leadership—already impact Awards and Recognitions (partial list): a pioneer. What began as one hospital and medical • Quality Leadership Award 2018 Winner • Total Endowments of over $573M (FY2018) school building in Galveston is now a major academic • UTMB receives comprehensive stroke center • More than 46,000 jobs in Texas are directly or health sciences center of global influence, with medical, certification indirectly attributed to UTMB nursing, health professions and graduate biomedical schools; a world-renowned research enterprise; and a • UTMB again achieves Magnet recognition • Serving students, patients and people in Texas for growing, comprehensive health system with hospitals on • UTMB Health Breast Imaging designated a “Center over 125 years four campuses and a network of clinics. Today, UTMB of Excellence” • UTMB has more enrolled students and graduates has a $3.3 billion annual statewide economic impact, in • UTMB’s Diabetes Prevention Program receives full than the School of Medicine, School of Health terms of business volume, personal income and durable recognition from CDC Professions and School of Nursing. goods purchases. More than 46,000 jobs in Texas are • UTMB earns second consecutive national award for directly or indirectly attributed to UTMB. quality patient care For more than 125 years, UTMB has stood with Texas— training the health care workforce; helping make the state UTMB includes schools of Medicine, Nursing, Health • UTMB receives AHA’s Get With The Guidelines®- a leader in advancing the understanding and treatment Professions and Graduate Biomedical Sciences; four Resuscitation Gold Award for Treatment of Adult Patients • UTMB Health earns national reaccreditation for the highest level of breast care • UTMB recognized as a 5-star academic health center for patient care

195 N. 11th Street, Beaumont, Texas 77702 InvestCoreCommercial.com AREA OVERVIEW ABOUT BEAUMONT

Beaumont (/ˈboʊmɒnt/ BOH-mont) is a city in and the rapidly developed as one of the major petro-chemical county seat of Jefferson County, Texas, in the United refining areas in the country. Along with Port Arthur and States, within the Beaumont–Port Arthur Metropolitan Orange, Beaumont forms the Golden Triangle, a major Statistical Area. Located in Southeast Texas on the industrial area on the Texas Gulf Coast. Neches River about 85 miles (137 km) east of Houston Beaumont is home of Lamar University, a national (city center to city center), Beaumont had a population Carnegie Doctoral Research university with 14,966 of 117,267 at the time of the 2010 census, making it the students, including undergraduates and post graduates. thirtieth-most populous city in the state of Texas. Over the years, several corporations have been based in this city, including Gulf States Utilities which had its Beaumont was founded as a town in 1835. The early headquarters in Beaumont until its takeover by Entergy European–American settlement had an economy Corporation in 1993. GSU’s Edison Plaza headquarters based on the development of lumber, farming, and port remains the tallest building in Beaumont. industries. In 1892, Joseph Eloi Broussard opened the first commercially successful rice mill in the state, stimulating

development of rice farming in the area; he also started an irrigation company (since 1933 established as the Lower Neches Valley Authority) to support rice culture. Rice became an important commodity crop in Texas, and is now cultivated in 23 counties.

A big change occurred in 1901 with the Spindletop gusher, which demonstrated the potential of the huge oil field. With Spindletop, several energy companies developed in Beaumont, and some continue. The area

195 N. 11th Street, Beaumont, Texas 77702 InvestCoreCommercial.com AREA OVERVIEW ABOUT HOUSTON MSA

the University of Houston. Located in the historic Three community college districts exist with campuses in community of Third Ward is Texas Southern University, and around Houston. The Houston Community College one of the largest historically black colleges and System serves most of Houston. The northwestern universities in the United States. through northeastern parts of the city are served by various campuses of the Lone Star College System, Several private institutions of higher learning—ranging while the southeastern portion of Houston is served by from liberal arts colleges to Rice University, the nationally San Jacinto College. The Houston Community College recognized research university—are located within the and Lone Star College systems are within the 10 largest city. Rice, with a total enrollment of slightly more than institutions of higher learning in the United States. 6,000 students, is widely recognized as one of the top twenty universities in the nation, and it has a number of ECONOMY the tenth-largest port in the world. Unlike most places, distinguished graduate programs and research institutes Houston is recognized worldwide for its energy high oil and gasoline prices are beneficial for Houston’s such as the James A. Baker Institute for Public Policy. The industry—particularly for oil and natural gas—as well economy as many of its residents are employed in the university’s undergraduates are among the most select as for biomedical research and aeronautics. Renewable energy industry. in the nation. energy sources—wind and solar—are also growing economic bases in Houston. The ship channel is also The Houston–Sugar Land–Baytown MSA’s gross a large part of Houston’s economic base. Because of domestic product in 2010 was $385 billion, larger these strengths, Houston is designated as a global city than Austria’s, Argentina’s or South Africa’s GDP. by the Globalization and World Cities Study Group and Only 21 countries other than the United States have a Network and by global management consulting firm gross domestic product exceeding Houston’s regional A.T. Kearney. gross area product. Mining, which in Houston consists almost entirely of exploration and production of oil and The Houston area is a leading center for building gas, accounts for 26.3% of Houston’s GAP, up sharply oilfield equipment. Much of Houston’s success as a in response to high energy prices and a decreased petrochemical complex is due to its busy man-made worldwide surplus of oil production capacity; ship channel, the Port of Houston. The port ranks first followed by engineering services, health services, and in the United States in international commerce, and is manufacturing.

195 N. 11th Street, Beaumont, Texas 77702 InvestCoreCommercial.com AREA OVERVIEW DEMOGRAPHICS Executive Summary

University of Texas Medical Branch Prepared By Ed Colson Jr., CCIM Quality Floor Covering Latitude: 30.08219 Rings: 1, 3, 5 mile radii Longitude: -94.13005 1 mile 3 miles 5 miles Population 2000 Population 7,377 66,706 106,580 2010 Population 7,215 64,275 108,088 2018 Population 7,257 65,062 111,484 2023 Population 7,302 65,780 113,572 2000-2010 Annual Rate -0.22% -0.37% 0.14% 2010-2018 Annual Rate 0.07% 0.15% 0.38% 2018-2023 Annual Rate 0.12% 0.22% 0.37% 2018 Male Population 49.7% 48.2% 48.0% 2018 Female Population 50.3% 51.8% 52.0% 2018 Median Age 34.9 37.3 35.5

In the identified area, the current year population is 111,484. In 2010, the Census count in the area was 108,088. The rate of change since 2010 was 0.38% annually. The five-year projection for the population in the area is 113,572 representing a change of 0.37% annually from 2018 to 2023. Currently, the population is 48.0% male and 52.0% female. Median Age The median age in this area is 34.9, compared to U.S. median age of 38.3. Race and Ethnicity 2018 White Alone 44.3% 37.5% 36.9% 2018 Black Alone 33.1% 46.0% 47.1% 2018 American Indian/Alaska Native Alone 0.8% 0.5% 0.6% 2018 Asian Alone 1.7% 2.6% 3.8% 2018 Pacific Islander Alone 0.1% 0.0% 0.0% 2018 Other Race 17.6% 11.0% 9.0% 2018 Two or More Races 2.4% 2.3% 2.5% 2018 Hispanic Origin (Any Race) 30.3% 19.8% 16.9%

Persons of Hispanic origin represent 16.9% of the population in the identified area compared to 18.3% of the U.S. population. Persons of Hispanic Origin may be of any race. The Diversity Index, which measures the probability that two people from the same area will be from different race/ethnic groups, is 74.2 in the identified area, compared to 64.3 for the U.S. as a whole. Households 2000 Households 3,185 26,375 41,799 2010 Households 3,019 25,557 42,297 2018 Total Households 3,023 25,896 43,778 2023 Total Households 3,038 26,196 44,668 2000-2010 Annual Rate -0.53% -0.31% 0.12% 2010-2018 Annual Rate 0.02% 0.16% 0.42% 2018-2023 Annual Rate 0.10% 0.23% 0.40% 2018 Average Household Size 2.38 2.47 2.47

The household count in this area has changed from 42,297 in 2010 to 43,778 in the current year, a change of 0.42% annually. The five-year projection of households is 44,668, a change of 0.40% annually from the current year total. Average household size is currently 2.47, compared to 2.48 in the year 2010. The number of families in the current year is 27,542 in the specified area.

195 N. 11th Street, Beaumont, Texas 77702 InvestCoreCommercial.com

Data Note: Income is expressed in current dollars Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2018 and 2023. Esri converted Census 2000 data into 2010 geography.

August 30, 2018

©2018 Esri Page 1 of 2 AREA OVERVIEW DEMOGRAPHICS

Executive Summary

University of Texas Medical Branch Prepared By Ed Colson Jr., CCIM Quality Floor Covering Latitude: 30.08219 Rings: 1, 3, 5 mile radii Longitude: -94.13005 1 mile 3 miles 5 miles Median Household Income 2018 Median Household Income $37,498 $41,181 $43,822 2023 Median Household Income $40,883 $45,573 $49,107 2018-2023 Annual Rate 1.74% 2.05% 2.30% Average Household Income 2018 Average Household Income $58,788 $65,185 $66,938 2023 Average Household Income $65,127 $72,392 $74,833 2018-2023 Annual Rate 2.07% 2.12% 2.25% Per Capita Income 2018 Per Capita Income $24,126 $26,396 $26,885 2023 Per Capita Income $26,655 $29,248 $30,008 2018-2023 Annual Rate 2.01% 2.07% 2.22% Households by Income Current median household income is $43,822 in the area, compared to $58,100 for all U.S. households. Median household income is projected to be $49,107 in five years, compared to $65,727 for all U.S. households

Current average household income is $66,938 in this area, compared to $83,694 for all U.S. households. Average household income is projected to be $74,833 in five years, compared to $96,109 for all U.S. households

Current per capita income is $26,885 in the area, compared to the U.S. per capita income of $31,950. The per capita income is projected to be $30,008 in five years, compared to $36,530 for all U.S. households

Housing 2000 Total Housing Units 3,586 29,208 46,028 2000 Owner Occupied Housing Units 1,596 15,612 24,930 2000 Renter Occupied Housing Units 1,589 10,763 16,869 2000 Vacant Housing Units 401 2,833 4,229 2010 Total Housing Units 3,433 28,626 47,053 2010 Owner Occupied Housing Units 1,459 14,539 23,961 2010 Renter Occupied Housing Units 1,560 11,018 18,336 2010 Vacant Housing Units 414 3,069 4,756 2018 Total Housing Units 3,462 29,330 48,801 2018 Owner Occupied Housing Units 1,350 13,882 23,249 2018 Renter Occupied Housing Units 1,673 12,014 20,529 2018 Vacant Housing Units 439 3,434 5,023 2023 Total Housing Units 3,485 29,771 49,711 2023 Owner Occupied Housing Units 1,408 14,376 24,331 2023 Renter Occupied Housing Units 1,630 11,820 20,337 2023 Vacant Housing Units 447 3,575 5,043

Currently, 47.6% of the 48,801 housing units in the area are owner occupied; 42.1%, renter occupied; and 10.3% are vacant. Currently, in the U.S., 56.0% of the housing units in the area are owner occupied; 32.8% are renter occupied; and 11.2% are vacant. In 2010, there were 47,053 housing units in the area - 50.9% owner occupied, 39.0% renter occupied, and 10.1% vacant. The annual rate of change in housing units since 2010 is 1.63%. Median home value in the area is $135,522, compared to a median home value of $218,492 for the U.S. In five years, median value is projected to change by 4.15% annually to $166,086.

195 N. 11th Street, Beaumont, Texas 77702 InvestCoreCommercial.com

Data Note: Income is expressed in current dollars Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2018 and 2023. Esri converted Census 2000 data into 2010 geography.

August 30, 2018

©2018 Esri Page 2 of 2 INFORMATION ABOUT BROKERAGE SERVICES

Before working with a real estate broker, you should know that the duties of a broker The Texas Real Estate License Act.The broker must obtain the written consent of each party depend on whom the broker represents. If you are a prospective seller or landlord to the transaction to act as an intermediary. The written consent must state who will pay (owner) or a prospective buyer or tenant (buyer), you should know that the broker the broker and, inconspicuous bold or underlined print, set forth the broker’s obligations who lists the property for sale or lease is the owner’s agent. A broker who acts as a as an intermediary. The broker is required totreat each party honestly and fairly and to subagent represents the owner incooperation with the listing broker. A broker who comply with The Texas Real Estate License Act. A broker who acts as an intermediary in acts as a buyer’s agent represents the buyer. A broker may act as an intermediary a transaction: between the parties if the parties consent in writing. A broker can assist you in locating a property, preparing a contract or lease, or obtaining financing without (1) shall treat all parties honestly; representing you. A broker is obligatedby law to treat you honestly. (2) may not disclose that the owner will accept a price less than the asking price unless authorized inwriting to do so by the owner; IF THE BROKER REPRESENTS THE OWNER (3) may not disclose that the buyer will pay a price greater than the price The broker becomes the owner’s agent by entering into an agreement with the owner, submitted in a written offer unless authorized in writing to do so by the buyer; and usually through a written-listing agreement, or by agreeing to act as a subagent by (4) may not disclose any confidential information or any information that a party accepting an offer of subagency from the listing broker.A subagent may work in a specifically instructs the broker in writing not to disclose unless authorized in writing to different real estate office. A listing broker or subagent can assist the buyer but does disclose the information or required to do so by The Texas Real Estate License Act or a not represent the buyer and must place the interests ofthe owner first. The buyer court order or if the information materially relates to the condition of the property. should not tell the owner’s agent anything the buyer would not want the owner to know because an owner’s agent must disclose to the owner any material information With the parties’ consent, a broker acting as an intermediary between the parties may known to the agent. appoint a person whois licensed under The Texas Real Estate License Act and associated with the broker to communicate with and carry out instructions of one party and another IF THE BROKER REPRESENTS THE BUYER person whois licensed under that Act and associated with the broker to communicate with The broker becomes the buyer’s agent by entering into an agreement to represent and carry out instructions of the other party. the buyer, usually through a written buyer representation agreement. A buyer’s agent can assist the owner but does not represent the owner and must place the If you choose to have a broker represent you, you should enter into a written agreement interests of the buyer first. The owner should not tell a buyer’s agent anything the with the broker that clearly establishes the broker’s obligations and your obligations. The owner would not want the buyer to know because a buyer’s agent must disclose to agreement should state how and by whom the broker will be paid. You have the right to the buyer any material information known to the agent. choose the type of representation, if any, you wish to receive.Your payment of a fee to a broker does not necessarily establish that the broker represents you. If you have any IF THE BROKER ACTS AS AN INTERMEDIARY questions regarding the duties and responsibilities of the broker, you should resolve those A broker may act as an intermediary between the parties if the broker complies with questions before proceeding.

195 N. 11th Street, Beaumont, Texas 77702 InvestCoreCommercial.com