Crestwood Plaza

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CRESTWOOD PLAZA FLORESVILLE, TX (SAN ANTONIO MSA) CONFIDENTIAL OFFERING MEMORANDUM CRESTWOOD PLAZA CONFIDENTIAL OFFERING MEMORANDUM 534 10TH STREET FLORESVILLE, TX 78114

presented by KEVIN CATALANI PARTNER 210.841.3237 [email protected]

REATA REAL ESTATE INVESTMENT SALES MEMORANDUM OFFERING 1100 NE Loop 410, Suite 400 San Antonio, TX 78209

TEL 210.930.4111 FAX 210.930.1114

REATAREALESTATE.COM

Information contained was obtained from sources believed reliable, however, REATA Real Estate Services, LP, makes no guarantees, warranties or representations as to the completeness or accuracy thereof. The presentation of this project is submitted subject to the errors, omissions and change of price or conditions prior to lease or withdrawal. ©REATA Real Estate Services, LP

CONFIDENTIAL OFFERING MEMORANDUM — CRESTWOOD PLAZA SECTION I...... EXECUTIVE SUMMARY INVESTMENT HIGHLIGHTS

SECTION II...... PROPERTY PHOTOS

SECTION III...... PROPERTY OVERVIEW SITE DESCRIPTION MAP

AERIALS OF CONTENTS TABLE

SECTION IV ...... FINANCIAL OVERVIEW FINANCIAL SUMMARY RENT ROLL CASH FLOW STATEMENT CASH FLOW ASSUMPTIONS TENANT PROFILES

SECTION V ...... TRADE AREA OVERVIEW SAN ANTONIO MARKET OVERVIEW DEMOGRAPHIC PROFILE

SECTION VI ...... AGENCY DISCLOSURE

CONFIDENTIAL OFFERING MEMORANDUM — CRESTWOOD PLAZA EXECUTIVE SUMMARY

REATA Investment Sales has been exclusively retained to offer for sale Crestwood Plaza (the “Property”), a 28,238 square foot neighborhood retail center located in Floresville, Texas (San Antonio MSA). Floresville is a growing community situated just south of San Antonio and just north of the oil and gas discoveries in the Eagle Ford Shale region. Crestwood Plaza is positioned along 10th Street/US 181, the major thoroughfare traveling through Floresville, providing great visibility and exposure for the center. The Property is 100% occupied and anchored by a strong-performing Dollar Tree. National tenants make up 65% of the rent roll and 69% of the rental revenue, creating secure, stable cash flow that yields attractive day one returns.

INVESTMENT HIGHLIGHTS

RAPIDLY GROWING COMMUNITY WITHIN THRIVING SAN ANTONIO MSA Floresville has experienced estimated population growth of 27.7% since 2000, driven in part by its proximity to rapidly growing San Antonio (25 minutes to the north) and the significant oil and gas region of South Texas known as the Eagle Ford Shale.

ROBUST RETAIL SUBMARKET Crestwood Plaza is located in the Wilson County Retail Submarket, which boasts an occupancy rate of 97.5% according to CoStar, an increase of 1.62% from last year.

NATIONAL TENANT LINEUP National tenants Dollar Tree, Cato Fashions, State Farm and Anytime Fitness make up 65% of the rent roll and 69% of the rental revenue.

STABILIZED ASSET WITH ABILITY TO CREATE VALUE Crestwood Plaza is 100% occupied, but has the ability to increase NOI through pad site development on included land parcels.

IDEAL POSITIONING ALONG US 181 (10TH STREET) In addition to its visibility and exposure along the most heavily traveled thoroughfare in Floresville, the asset is positioned in between Walmart (to the north) and HEB (to the south).

PRICED WELL BELOW REPLACEMENT COST $122.99 per square foot at asking price.

CONFIDENTIAL OFFERING MEMORANDUM — CRESTWOOD PLAZA SITE DESCRIPTION PRICING ADDRESS ASKING PRICE 534 10th Street $3,473,000 Floresville, Texas 78114

YEAR BUILT IN-PLACE CAP RATE 1983/2014 8.10%

GLA PRICE PER SQUARE FOOT 28,238 SF $122.99 SITE DESCRIPTION

PERCENT LEASED 100%

KEY TENANTS Dollar Tree, Cato, Anytime Fitness

LAND AREA 3.681 acres (Lot 1: Shopping Center) 0.429 acres (Lot 2) 1.392 acres (Lot 3) 5.502 acres

PARKING SPACES 209 parking spaces (7.40/1,000 SF)

TRAFFIC COUNTS N 10th Street/US Highway 181: 22,376 CPD

DEMOGRAPHIC SNAPSHOT 1 Mile 3 Miles 5 Miles 2018 Estimated Population 2,166 8,891 11,903 2018 Estimated Households 647 2,732 3,702 Daytime Population 1,352 3,508 3,918 Average Household Income $73,182 $71,203 $75,158

CONFIDENTIAL OFFERING MEMORANDUM — CRESTWOOD PLAZA MAP

CRESTWOOD PLAZA

CONFIDENTIAL OFFERING MEMORANDUM — CRESTWOOD PLAZA AERIALS

CRESTWOOD PLAZA 10th ST

181

26,593

CPD

STANDISH ST

181 97

4th ST

FLOORESVILLE ELEMENTARY SOUTH

10th ST 97

FLOORESVILLE FLOORESVILLE HIGH SCHOOL MIDDLE SCHOOL

STANDISH ST

181 0 .5

miles

CONFIDENTIAL OFFERING MEMORANDUM — CRESTWOOD PLAZA CRESTWOOD PLAZA

10th STREET AERIALS

10th STREET

CPD

26,771

10th STREET

CONFIDENTIAL OFFERING MEMORANDUM — CRESTWOOD PLAZA FLORESVILLE MIDDLE SCHOOL FLORESVILLE HIGH SCHOOL

10th STREET AERIALS

CRESTWOOD PLAZA

10th STREET

26,771 10th STREET

CPD

10th STREET

CONFIDENTIAL OFFERING MEMORANDUM — CRESTWOOD PLAZA FLORESVILLE MIDDLE SCHOOL AERIALS

CRESTWOOD PLAZA

0.429 ACRES LOT 2 (INCLUDED) 1.392 ACRES LOT 3 (INCLUDED)

TREET

1 CPD 7 10th S 6,7 2

STREET 10th

CONFIDENTIAL OFFERING MEMORANDUM — CRESTWOOD PLAZA FINANCIAL SUMMARY

GLA PERCENT LEASED IN-PLACE NOI 28,238 SF 100% $281,320

PRICING

ASKING PRICE ASKING PRICE PSF IN-PLACE CAP RATE $3,473,00 $122.99 8.10% FINANCIAL OVERVIEW

CONFIDENTIAL OFFERING MEMORANDUM — CRESTWOOD PLAZA RENT ROLL

% of Lease Term Annual Base Rent Escalations Reimbursement Suite Tenant SF Renewal Options Property Start End PSF Total Date PSF Total Notes

NNN; does not reimburse management fee Three 5-year options at: A Dollar Tree 8,000 28.33% Feb-14 Feb-19 $8.50 $68,000 1st: $9.00; 2nd: $9.50 Pro-rata share based on a 3rd: $10.00 denominator of 29,667 SF

NNN including management fee Two 5-year options at Market, not to exceed A-1 Floresville Dental 1,850 6.55% May-14 Oct-24 $20.00 $37,000 Oct-19 $21.00 $38,850 5% cap on CAM charges 3% of the last month's rental rate. FINANCIAL OVERVIEW

Pro-rata share based on a Four 5-year options at: B Cato Fashions 4,000 14.17% Aug-14 Jan-20 $8.50 $34,000 denominator of 30,000 SF 1st: $9.00; 2nd: $9.50 3% annual cap on CAM, INS and RET 3rd: $10.00; 4th: $10.50

NNN including management fee; however, MF not to exceed 10% of Two 5-year options at Market, not to exceed C World Finance Corp. 1,080 3.82% Oct-14 Sep-19 $14.71 $15,887 Common Area Costs 3% of the last month's rental rate. Controllable Common Area Expenses capped at 5%, non-cumulative

Two 5-year options at Market, not to exceed C-2 State Farm 1,200 4.25% Jun-14 Jun-21 $18.00 $21,600 NNN including management fee 3% of the last month's rental rate.

Two 5-year options at: D Anytime Fitness 5,000 17.71% Jul-16 Jul-22 $15.25 $76,250 Aug-19 $15.75 $78,750 NNN including management fee 1st: Months 1-30 $16.25, Months 31-60 $16.75; 2nd: Months 1-30 $16.75, Months 31-60 $17.75

Two 5-year options at: E Warrior Cheerleading 7,108 25.17% Jun-17 May-22 $4.75 $33,763 NNN including management fee 1st: Months 1-30 $5.55, Months 31-60, $5.75; 2nd: Months 1-30 $6.25, Months 31-60 $6.75

TOTAL AREA 28,238 $286,500

TOTAL LEASED AREA 28,238 100.00%

TOTAL AVAILABLE AREA 0 0.00%

CONFIDENTIAL OFFERING MEMORANDUM — CRESTWOOD PLAZA CASH FLOW STATEMENT

IN-PLACE PER SF Base Rent Occupied Space $288,004 $10.20

GROSS POTENTIAL RENT $288,004 $10.20

Expense Reimbursements FINANCIAL OVERVIEW Real Estate Taxes $48,790 $1.73 Insurance $12,227 $0.43 CAM $22,392 $0.79 Management Fee $10,045 $0.36

Total Expense Reimbursements $93,455 $3.31

EFFECTIVE GROSS INCOME $381,459 $13.51

Expenses Real Estate Taxes $49,885 $1.77 Insurance $12,502 $0.44 Common Area Maintenance $22,895 $0.81 Management Fee (4.00%) $14,857 $0.53

Total Expenses $100,139 $3.55

NET OPERATING INCOME $281,320 $9.96

CONFIDENTIAL OFFERING MEMORANDUM — CRESTWOOD PLAZA CASH FLOW ASSUMPTIONS

ANALYSIS PROPERTY TAXES Snapshot of In-Place Cash Flow Based on 2018 BCAD assessed value and corresponding millage rate below: RENTAL INCOME JURISDICTION 2018 TAX RATE • In-Place Cash Flow based on leases in place for a 12-month period beginning January 2019 Wilson CAD 0.000000 Floresville City 0.443100 OPERATING EXPENSES Wilson County 0.473800 Based on Ownership’s Trailing-12 Actual Expenses, unless otherwise Wilson Co Hosp 0.116600

noted below. Expense detail on page 12. FINANCIAL OVERVIEW San Antonio River Authority 0.018580 MANAGEMENT FEE Floresville ISD 1.445000 4.00% of gross revenue Evergreen UWC Dist 0.007400 TOTAL 2.504480 EXPENSE REIMBURSEMENT All tenants are triple net and pay their pro-rate share of CAM, Taxes & Insurance. Please see rent roll for additional detail regarding specific reimbursement methods.

CONFIDENTIAL OFFERING MEMORANDUM — CRESTWOOD PLAZA EXPENSE DETAIL

CURRENT PER SF Real Estate Taxes $49,885.24 $1.77

Insurance $12,502.00 $0.44

Common Area Maintenance Landscape Maintenance 5,550.00 0.20 Repairs & Maintenance 1,422.00 0.05 Security Service 1,014.00 0.04 Electricity 10,082.00 0.36 Gas 345.00 0.01 Water 4,482.00 0.16 Total Common Area Maintenance $22,895.00 $0.81

Management Fee (4.00%) $14,856.55 $0.53

TOTAL EXPENSES $100,138.79 $3.55

CONFIDENTIAL OFFERING MEMORANDUM — CRESTWOOD PLAZA TENANT PROFILES

TENANT PROFILES

Square Feet 8,000 Square Feet 4,000 Square Feet 5,000 TENANT PROFILES % of Building GLA 28.33% % of Building GLA 14.17% % of Building GLA 17.71% In-Place Rent PSF $8.50 In-Place Rent PS $8.50 In-Place Rent PS $15.25 Lease Expiration February 2019 Lease Expiration January 2020 Lease Expiration July 2022 Website dollartree.com Website catofashions.com Website anytimefitness.com Ticker Symbol NASDAQ: DLTR Ticker Symbol NASDAQ: CATO Ticker Symbol Private

Headquartered in Chesapeake, VA, Dollar Tree The Cato Corporation, together with its Founded in 2002, Anytime Fitness is a 24-hour is the largest and most successful single-price- subsidiaries, operates as a specialty retailer of health and fitness club based in Woodbury, Min- point retailer in North America, operating thou- fashion apparel and accessories primarily in the nesota. Ranked #1 in 2015 on Entrepreneur’s sands of stores across 48 contiguous U.S. states southeastern United States. It operates through prestigious Top Global Franchise list, Anytime Fit- and five Canadian provinces, supported by a two segments, Retail and Credit. The company’s ness is the fastest growing gym franchise in the solid and scalable logistics network. Dollar Tree, stores and e-commerce Websites offer a range of world, with more than 3,000 gyms serving near- Inc. operates through two segments, Dollar Tree apparel and accessories, including dressy, career, ly 3,000,000 members on five continents. Open and Family Dollar. The Dollar Tree segment offers and casual sportswear; and dresses, coats, shoes, 24 hours a day, 365 days a year, Anytime Fitness merchandise at the fixed price of $1.00. It pro- lingerie, costume jewelry, and handbags. It also prides itself on providing its members with con- vides consumable merchandise, including candy provides men’s wear, as well as lines for kids venient fitness options and friendly, personal and food, and health and beauty care products, and newborns. The company operates its stores service in well-maintained facilities which feature as well as everyday consumables, such as house- and e-commerce Websites under the Cato, Cato top-quality exercise equipment. Gyms are now hold paper and chemicals, and frozen and refrig- Fashions, Cato Plus, It’s Fashion, It’s Fashion open in all 50 states, Canada, Mexico, Australia, erated food; various merchandise comprising Metro, and Versona names. As of February 3, New Zealand, England, Scotland, Ireland, Grand toys, durable housewares, gifts, stationery, party 2018, it operated 1,351 stores in 33 states. The Cayman, Poland, the Netherlands, Spain, Qatar, goods, greeting cards and other items; and sea- company also provides credit card services to India, Chile, Japan, Singapore, Malaysia, Hong sonal goods, which include Valentine’s Day, Eas- its customers, as well as layaway plans. The Kong, China, Taiwan, Belgium and the Philippines. ter, Halloween, and Christmas merchandise. This Cato Corporation was founded in 1946 and is All franchised gyms are individually owned and segment operates 6,650 stores under the Dollar headquartered in Charlotte, North Carolina. operated. Join one gym and use them all. Tree and Dollar Tree Canada brands, as well as 11 distribution centers in the United States and 2 in Canada, and a store support center in Chesa- peake, Virginia. The Family Dollar segment operates 8,185 stores under the Family Dollar brand, 11 distribution centers, and a store support center in Matthews, North Carolina. 16

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San Antonio is the nation’s 7th largest city and San Antonio benefits greatly from the city’s and are less than half the cost of comparable the 24th largest metropolitan service area close proximity to Mexico and the cost advan- housing in some cities in California and the (MSA) in the United States. The San Anto- tages of living in this unique city. The economy East Coast. nio-New Braunsfels MSA (referred to as Great- of San Antonio is a healthy mix of financial ser- In recent years, San Antonio has been among er San Antonio) encompasses eight counties vices, government services, manufacturing, the top of a number of economic indicator and is situated in South-Central Texas along education and health care, biosciences, com- rankings including Milken Institute’s list of the I-35 corridor with a population of nearly munications, oil & gas and tourism industries. top performing cities (#1 in 2011), Brookings 2.3 million people; 200 miles west of Houston, San Antonio is home to five Fortune 500 com- Institution’s top-economic performer list and 280 miles southwest of Dallas and 84 miles panies including Valero Energy, Tesoro, USAA, Forbes list of America’s Fastest Recovering south of Austin NuStar Energy and Clear Channel Communica- Cities (#2 in 2009). The Eagle Ford Shale play tions. In addition, other major companies call The MSA is centrally located between the East that is currently taking place in South Tex- San Antonio home for their corporate head- and West Coasts, with close proximity to Mex- as has made significant contributions to the quarters, including H-E-B and Rackspace. ico. Due to its central location and positioning city’s recent success. The Eagle Ford Shale along Interstate 35, more than half of the to- According to the Council for Community and (EFS) is quite possibly the largest single eco- TRADE AREA OVERVIEW tal goods flowing between the U.S. and Mex- Economic Research, the cost of living is near- nomic development in the history of the state ico travel through San Antonio before reach- ly 12 percent below the U.S. average, allowing of Texas and ranks as the largest oil & gas ing their final destination. San Antonio is also residents and companies alike to enjoy afford- development in the world based on capital home to a number of national landmarks and able living in a cultural and business-savvy invested. The EFS is a gas and oil producing famous attractions, making it Texas’ most vis- environment. Home prices in San Antonio are shale rock formation in south Texas that runs ited city with about 20 million visitors annually. more than 35 percent below the U.S. median from the US-Mexico border north of Lare-

CONFIDENTIAL OFFERING MEMORANDUM — CRESTWOOD PLAZA do in a narrow band extending northeast in the 20 county area impacted by the play. for several hundred miles to just north of Hous- Since the beginning of 2010 over 7% of the ton. The EFS takes its name from the town of state’s employment gains are attributed to Eagle Ford, Texas where the shale outcrops the EFS. It is currently the most active shale at the surface in clay form. Approximately play in the world with over 200 rigs running. $30 billion was spent developing the play in From record drilling levels to wells producing 2013 and had more than a $60 billion dollar over 4,000 barrels per day of oil, the play is impact on the South Texas economy in 2012; redefining South Texas as an oil industry hot- over 116,000 Eagle Ford jobs were supported bed and bringing new wealth to the region.

CORPORATE HEADQUARTERS IN SAN ANTONIO COMPANY BUSINESS EMPLOYED IN SAN ANTONIO H-E-B Super Market Chain 20,000 USAA Financial Services and Insurance 17,000 Bill Miller Bar-B-Q Fast Food Chain 4,190 Cullen / Frost Bankers Financial Services 3,982 Valero Energy Oil Refinery & Gasoline Mktg. 3,777 TRADE AREA OVERVIEW Rackspace IT Managed Hosting Solutions 3,300 Southwest Research Institute Applied Research 3,046 Toyota Motor Manufacturing Auto Manufacturing 2,900 Clear Channel Communications, Inc. TV & Radio Stations, Outdoor Ads 2,800 Kinetic Concepts, Inc. Medical Supplies 2,000 Harland Clarke Check Printing 1,500 Tesoro Oil Refiner & Petroleum Products 800 NuStar Energy Energy 550 Source: The San Antonio Business Journal and by contact with company representatives. Updated August 2013.

MAJOR REGIONAL EMPLOYERS IN SAN ANTONIO COMPANY BUSINESS EMPLOYED IN SAN ANTONIO Lackland Air Force Base Military 37,097 Fort Sam Houston Military 32,000 H-E-B Super Market Chain 20,000 USAA Financial Services and Insurance 17,000 Northside Independent School District School District 12,751 City of San Antonio City Government 11,731 Randolph Air Force Base Military 11,068 North East Independent School District School District 10,522 Methodist Healthcare System Health Care Services 8,000 San Antonio Independent School District School District 7,374 Source: The 2013 Book of Lists, The San Antonio Business Journal

FORTUNE 500 COMPANIES HEADQUARTERED IN SAN ANTONIO COMPANY RANK Valero Energy 9 Tesoro 95 USAA 139 NuStar Energy 389 Clear Channel Communications, Inc. 407 Source: Fortune Magazine 18

CONFIDENTIAL OFFERING MEMORANDUM — CRESTWOOD PLAZA FULL PROFILE 2000-2010 Census, 2018 Estimates with 2023 Projections Calculated using Weighted Block Centroid from Block Groups DEMOGRAPHIC PROFILE Lat/Lon: 29.1556/-98.1665 RF1 Crestwood Plaza 1 mi radius 3 mi radius 5 mi radius Floresville, TX 78114

2018 Estimated Population 2,166 8,891 11,903 N

O 2023 Projected Population 2,337 9,668 12,987 I T

A 2010 Census Population 1,801 7,435 10,087 L

U 2000 Census Population 1,638 6,647 8,463 P

O Projected Annual Growth 2018 to 2023 1.6% 1.7% 1.8% P Historical Annual Growth 2000 to 2018 1.8% 1.9% 2.3%

2018 Estimated Households 647 2,732 3,702 S D

L 2023 Projected Households 673 2,852 3,877 O

H 2010 Census Households 589 2,469 3,406 E

S 2000 Census Households 524 2,228 2,854 U

O Projected Annual Growth 2018 to 2023 0.8% 0.9% 0.9% H Historical Annual Growth 2000 to 2018 1.3% 1.3% 1.7% TRADE AREA OVERVIEW 2018 Est. Population Under 10 Years 12.8% 13.0% 12.7% 2018 Est. Population 10 to 19 Years 14.1% 13.8% 13.9% 2018 Est. Population 20 to 29 Years 14.8% 15.0% 13.9%

E 2018 Est. Population 30 to 44 Years 17.5% 16.9% 17.1% G

A 2018 Est. Population 45 to 59 Years 17.6% 16.7% 18.4% 2018 Est. Population 60 to 74 Years 14.9% 15.2% 15.4% 2018 Est. Population 75 Years or Over 8.2% 9.5% 8.5% 2018 Est. Median Age 35.8 36.3 37.3

S 2018 Est. Male Population 49.4% 49.6% 49.8% U T R 2018 Est. Female Population 50.6% 50.4% 50.2% A E T D S

2018 Est. Never Married 33.3% 31.5% 30.0% N L E A

G 2018 Est. Now Married 36.3% 36.9% 41.0%

T I &

R 2018 Est. Separated or Divorced 21.8% 22.1% 21.0% A

M 2018 Est. Widowed 8.5% 9.5% 8.0%

2018 Est. HH Income $200,000 or More 3.4% 3.1% 3.6% 2018 Est. HH Income $150,000 to $199,999 5.3% 4.2% 5.6% 2018 Est. HH Income $100,000 to $149,999 15.3% 12.7% 15.0% 2018 Est. HH Income $75,000 to $99,999 10.9% 14.9% 14.5% This report was produced using data from private and government sources deemed to be reliable. The information herein is provided without representation or warranty. representation herein is provided without information The be reliable. sources deemed to and government private from was produced using data report This 2018 Est. HH Income $50,000 to $74,999 23.3% 22.3% 20.2% E

M 2018 Est. HH Income $35,000 to $49,999 8.4% 7.8% 8.7% O

C 2018 Est. HH Income $25,000 to $34,999 9.9% 8.9% 9.1% N I 2018 Est. HH Income $15,000 to $24,999 12.7% 14.1% 12.5% 2018 Est. HH Income Under $15,000 10.8% 11.9% 10.7% 2018 Est. Average Household Income $73,182 $71,203 $75,158 2018 Est. Median Household Income $60,019 $57,566 $63,458 2018 Est. Per Capita Income $22,106 $22,147 $23,581

2018 Est. Total Businesses 157 456 511 2018 Est. Total Employees 1,352 3,508 3,918 19

CONFIDENTIAL OFFERING MEMORANDUM — CRESTWOOD PLAZA

TYPES OF REAL ESTATE LICENSE HOLDERS: including information disclosed to the agent or subagent › that the owner will accept a price less than the written • A BROKER is responsible for all brokerage activities, by the buyer or buyer’s agent. asking price; including acts performed by sales agents sponsored by AS AGENT FOR BUYER/TENANT: The broker becomes › that the buyer/tenant will pay a price greater than the the broker. the buyer/tenant’s agent by agreeing to represent the price submitted in a written offer; and • A SALES AGENT must be sponsored by a broker and buyer, usually through a written representation agree- › any confidential information or any other information works with clients on behalf of the broker. ment. A buyer’s agent must perform the broker’s min- that a party specifically instructs the broker in writ- A BROKER’S MINIMUM DUTIES REQUIRED BY LAW imum duties above and must inform the buyer of any ing not to disclose, unless required to do so by law. (A client is the person or party that the broker rep- material information about the property or transaction AS SUBAGENT: A license holder acts as a subagent resents): known by the agent, including information disclosed to when aiding a buyer in a transaction without an agree- DISCLOSURE AGENCY • Put the interests of the client above all others, including the agent by the seller or seller’s agent. ment to represent the buyer. A subagent can assist the the broker’s own interests; AS AGENT FOR BOTH — INTERMEDIARY: To act as an buyer but does not represent the buyer and must place • Inform the client of any material information about the intermediary between the parties the broker must first the interests of the owner first. property or transaction received by the broker; obtain the written agreement of each party to the trans- • Answer the client’s questions and present any offer to TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN action. The written agreement must state who will pay or counter-offer from the client; and YOU AND A BROKER SHOULD BE IN WRITING AND the broker and, in conspicuous bold or underlined print, • Treat all parties to a real estate transaction honestly CLEARLY ESTABLISH: set forth the broker’s obligations as an intermediary. A and fairly. broker who acts as an intermediary: • The broker’s duties and responsibilities to you, and your A LICENSE HOLDER CAN REPRESENT A PARTY IN A • Must treat all parties to the transaction impartially and obligations under the representation agreement. REAL ESTATE TRANSACTION: fairly; • Who will pay the broker for services provided to you, AS AGENT FOR OWNER (SELLER/LANDLORD): The • May, with the parties’ written consent, appoint a differ- when payment will be made and how the payment will broker becomes the property owner’s agent through an ent license holder associated with the broker to each be calculated. agreement with the owner, usually in a written listing to party (owner and buyer) to communicate with, provide LICENSE HOLDER CONTACT INFORMATION: This no- sell or property management agreement. An owner’s opinions and advice to, and carry out the instructions tice is being provided for information purposes. It does agent must perform the broker’s minimum duties above of each party to the transaction. not create an obligation for you to use the broker’s ser- and must inform the owner of any material information • Must not, unless specifically authorized in writing to do vices. Please acknowledge receipt of this notice below about the property or transaction known by the agent, so by the party, disclose: and retain a copy for your records.

REATA Real Estate Services, LP 9002891 [email protected] 210.930.4111 Licensed Broker/Broker Firm Name or License Number Email Phone Primary Assumed Business Name Thomas C. Tyng, Jr. 0406718 [email protected] 210.930.4111 Designated Broker of Firm License Number Email Phone Kevin Catalani 590070 [email protected] 210.930.4111 Sales Agent License Number Email Phone

Sales Agent License Number Email Phone

Buyer/Tenant/Seller/Landlord Initials Date 20

CONFIDENTIAL OFFERING MEMORANDUM — CRESTWOOD PLAZA REGULATED BY THE TEXAS REAL ESTATE COMMISSION. INFORMATION AVAILABLE AT WWW.TREC.TEXAS.GOV IABS 1-0 02/16/16 OUR MISSION is to provide excellent real estate services to both external and internal customers while building a lasting Company committed to profitability and opportunity.

We strive for the highest standards of service, integrity and accountability to our EMPLOYEES, CLIENTS and PARTNERS.