AUSTIN, STONECREEK I & II OFFERING SUMMARY

Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp a Texas licensed real estate broker (“HFF”). EXECUTIVE SUMMARY

HFF has been exclusively retained to offer to qualified investors an opportunity to acquire Stonecreek I & II (the “Property”), two Class A office buildings totaling 239,819 square feet on the northern edge of The Domain, Austin’s premier mixed-use development and most amenity rich location. Currently 92% leased to a diverse tenant base with rents averaging 34% below market, the Property features strong near-term cash flow with an excellent mark-to-market opportunity. Stonecreek I & II provides investors the ability to acquire two institutional quality office buildings with over 87% credit tenancy including Charter Communications (Moody’s Ba1, 47%) and CoreLogic (Moody’s Ba2, 24%) in one of the most dynamic locations in the U.S.

CREDIT TENANCY WITH MARK-TO-MARKET OPPORTUNITY

THE DOMAIN – AUSTIN’S BEST IN CLASS MIXED USED DEVELOPMENT

TOP PERFORMING SUBMARKET

IRREPLACEABLE LOCATION

THRIVING AUSTIN ECONOMY

2 PROPERTY OVERVIEW

Stonecreek I Stonecreek II Total/Average ADDRESS 11902 Burnet Road 11921 N.Mopac Expressway Austin, Texas 78759 Austin, Texas 78759

RBA 76,860 162,959 239,819 STORIES 4 4 LEASED 76% 100% 92% YEAR BUILT 1984 2000 SITE 3.61 acres 5.91 acres 9.52 acres AVERAGE FLOOR SIZE +/- 19,000 SF +/- 40,000 SF +/- 29,500 SF PARKING RATIO 3.7 per 1,000 in two-level 4.5 per 1,000 in four-level 4.1 per 1,000 average structure & surface garage parking ratio

3 CREDIT TENANCY WITH MARK-TO-MARKET OPPORTUNITY

• 92% leased with 2.7-year weighted average remaining lease term provides stable near-term cash flow and value enhancement through execution of new and renewal leases at increased market rates

• 81% roll by 2020: mark-to-market opportunity for $1.6 million in additional revenue from in-place rates 34% below market

• Rent roll features a superior tenant line-up with a mix of real estate services, telecom, semiconductor, and technology companies that is reflective of the overall Austin economy

• Exceptional tenancy with two investment grade anchor tenants in Charter Communications and CoreLogic occupying 71% of the rentable square footage

4 MAJOR TENANTS % of Term Credit Tenant Name SF Property Remaining Ticker Rating Revenue Industry Charter Communications (TWC) 112,190 47% 3.1 CHTR Ba1 $40.8B Telecommunications CoreLogic 58,366 24% 2.2 CLGX Ba2 $1.9B Real Estate Services Century Link 16,531 7% 1.0 CTL Ba1 $16.9B Telecommunications TSMC 12,314 5% 2.4 TSM A1 $31.8B Semiconductor Manufacturing Kuka 10,183 4% 4.6 KU2 (ETR) Baa3 $2.9B Robotics Other Tenancy 11,741 5% 1.8 Vacancy 18,494 8% TOTAL 239,819 100% 2.7

5 DOWNTOWN AUSTIN (15 MINUTES)

US HIGHWAY 183

DILLARD’S LONE STAR IPIC IBM COURT BRAKER LN THEATER WESTIN MACY’S TREND MICRO DICK’S TOP GOLF SPORTING APPLE GOODS ARCHER ALOFT HOTEL CHARLES SCHWAB NEIMAN MARCUS BLACKBAUD NORDSTROM EXPEDIA IBM WE WORK RESTORATION HARDWARE BURNET RD FUTURE EXPEDIA DOMAIN 11 & 12 WHOLE FOODS MARKET ALTERRA PKWY Y P X E AUSTIN’S BEST IN CLASS C A LA QUINTA P MIXED USED DEVELOPMENT O M • The Domain is a 304-acre premium live-work-play community located at the geographic center of Austin which acts as Austin’s “second downtown” with 6,000 residents and 17,500 employees projected by 2020

• The Domain is anchored by blue chip retailers such as Neiman Marcus, Restoration Hardware, Nordstrom, and Whole Foods Market and luxury brands such as Apple, David Yurman, Louis Vuitton, and Tiffany & Company

• The newly opened Domain Northside is home to an eclectic mix of local Austin restaurants, retailers and bars providing walkable amenities to Stonecreek I & II

6 DOWNTOWN AUSTIN (15 MINUTES) CORE, HIGHLY WALKABLE LOCATION

US HIGHWAY 183

DILLARD’S LONE STAR IPIC IBM COURT BRAKER LN THEATER WESTIN MACY’S TREND MICRO DICK’S TOP GOLF SPORTING APPLE GOODS ARCHER ALOFT HOTEL CHARLES SCHWAB AMAZON NEIMAN MARCUS BLACKBAUD NORDSTROM FACEBOOK EXPEDIA IBM WE WORK RESTORATION HARDWARE BURNET RD FUTURE EXPEDIA DOMAIN 11 & 12 WHOLE FOODS MARKET ALTERRA PKWY Y P X E C A LA QUINTA P O M

DOMAIN QUICK STATS

1.8 MM SF RETAIL

2.3 MM SF OFFICE

775 KEYS IN 4 HOTELS

2,800 UNITS MULTIFAMILY

7 LEANDER

ROUND ROCK CEDAR PARK BRUSHY CREEK

W PARMER LN

LAKELINE

D V BL 1 RIC ET M AMHERSTBalcones DR

D Y TOP PERFORMING SUBMARKET UV District ST. DAVID’S AL RD W

H Park WELLS MEDICAL CENTER L NATIONAL 275 JOLLYVILLEA SETON SPECTRUM N O BRANCH D INSTRUMENTS I R • Stonecreek I & II is well positioned adjacent to The Domain, a core micro-market G MEDICAL CENTER E E E L R P

L ANDERSON MILL A

R I I EXPEDIA R PFLUGERVILLE

E M V V Seton E

T R Y

comparable to the Downtown Austin submarket, and boasting the highest occupancy Y LN

L L N

Northwest I

L L

O Hospital WE WORK and rental rates of any other suburban submarket J FACEBOOK FORCEPOINT IBM CHARLES SCHWAB AMAZON • There has been 827,000 square feet delivered since 2014 and has on average BLACKBAUD v

D BAZAARVOICE TOP GOLF V L

B been 80% leased at delivery, currently 95.4% occupied R

RESEARCH BLVD A

L M AI IBM KR R W BRAKER LN AM A T E L R S L METRIC BLVD N N L IL • The Domain competes directly with the Downtown submarket, boasting the highest N MOPAC EXPY W H B AT The R E AK R ER THE G Arboretum LN occupancy and rental rates of any other submarket Gateway JJ Pickle THE Shopping Research Campus, DOMAIN Center The University ARBORETUM of Texas at Austin • The Domain has solidified itself as the rent growth leader in Austin with rental rates KRAMER LN

S

P experiencing an 83% increase from its 10-year low of $16.50 to $30.12 NNNI per C

E W

D O

O V O O L square foot BURNET RD B

D

C I S P R R T RESEARCH BLVD E IN G M E BRAKER LN • Northwest Austin remains one of the preferred corporate destinations with AppleS R D NORTHWEST and having large corporate campuses as well as other major HILLS WINDSOR W RUNDBERG LN companies such as Amazon, Facebook, IBM, Charles Schwab, and Expedia located HILLS in The Domain or adjacent campuses DESSAU RD CRESTVIEW STECK AVE

PAYTON GIN RD Net Under Overall

W DR Absorption Construction NNN LLO HO MESA DR D Market Total GLA YTD YTD Rate O Occupancy FAR W BLVD O W BARTON CREEK Northwest 17,578,799 -319,853 0 90.5% $21.31 WESTLAKE HILLS

Domain 2,320,346 235,610 308,000 95.4% $30.12

Downtown 15,694,248 416,875 565,252 91.9% $33.32

Total Austin 98,235,274 1,390,013 3,791,476 91.5% $23.84 TARRYTOWN

EAST AUSTIN

IRREPLACEABLE LOCATION DOWNTOWN • Proximity to high-end retail and multi-housing developments – 3+ million square feet at the Domain and the Arboretum, two of Austin’s premier mixed-use developments OAK HILL – which adds to the allure of the location SOUTH AUSTIN • Less than five minutes from an additional 100+ restaurants and retailers at the EAST RIVERSIDE Arboretum, Arboretum Market, Great Hills Market and North Hills Town Center

• Located at the corner of Duval Road and MoPac Expressway (Loop 1), Stonecreek I & II is well positioned for immediate access to downtown Austin and the growing Austin residential communities of North/Northwest Austin International • Superior connectivity to the rest of the city with immediate access via MoPac Airport Expressway, offering short drives to IH-35, US-183 and Loop 360

8 LEANDER

ROUND ROCK CEDAR PARK BRUSHY CREEK

W PARMER LN

LAKELINE

D V BL 1 RIC ET M AMHERSTBalcones DR

D Y UV District ST. DAVID’S AL RD W

H Park WELLS MEDICAL CENTER L NATIONAL 275 JOLLYVILLEA SETON SPECTRUM N O BRANCH D INSTRUMENTS I

R G MEDICAL CENTER E E E L R P

L ANDERSON MILL A

R I I EXPEDIA R PFLUGERVILLE

E M V V Seton E

T R Y

Y LN

L L N

Northwest I

L L

O Hospital WE WORK J FACEBOOK FORCEPOINT IBM CHARLES SCHWAB BLACKBAUD AMAZON

v

D BAZAARVOICE TOP GOLF V L

B

R

RESEARCH BLVD A

L M AI IBM KR R W BRAKER LN AM A T E L R S L METRIC BLVD N N L IL N MOPAC EXPY W H B AT The R E AK R ER THE G Arboretum LN Gateway JJ Pickle THE Shopping Research Campus, DOMAIN Center The University ARBORETUM of Texas at Austin GOOGLE KRAMER LN

S

P

I C

E W QUALCOMM

D O

O V O O L BURNET RD B

D

C I S P R R T RESEARCH BLVD E IN G M S E BRAKER LN RD NORTHWEST HILLS WINDSOR W RUNDBERG LN HILLS

DESSAU RD CRESTVIEW STECK AVE

PAYTON GIN RD

W DR LLO HO MESA DR D FAR W BLVD O O W BARTON CREEK WESTLAKE HILLS

TARRYTOWN

EAST AUSTIN

DOWNTOWN

OAK HILL

SOUTH AUSTIN

EAST RIVERSIDE

Austin International Airport

9 ACCOLADES #1 City for Real Estate Investment - ULI #Fastest Growing City for 4th Consecutive Year - Forbes Top 5 Best Cities for New Jobs - Forbes

10 THRIVING AUSTIN ECONOMY

• ULI recently ranked Austin as the “#1 City for Real Estate Investment,” additionally, Forbes awarded Austin both the “Fastest Growing City in the Country” and among the “Top Five Best Cities for New Jobs” for the fourth year in a row, with an impressive 157 people moving to the city per day

• Approximately 28,700 new jobs added in the past 12 months dropping the unemployment rate to 3.2%, significantly lower than the Texas (4.2%) and national (4.4%) averages

• Leading to the creation of its nickname as “Silicon Hills”, more than 125,000 employees at more than 5,000 technology companies are located in Austin, with a large portion congregated in Northwest Austin

• Amazon, Facebook, and Expedia are just a few of the recent relocations and expansions brought into the market due to the mixed-use nature of The Domain, excellent accessibility, and superior housing options for its workforce

NATION LEADING IN-MIGRATION

NEW157 RESIDENTS/DAY EMPLOYMENT28% GROWTH

2010 2016

POPULATION GROWTH 2005-2016 AUSTIN 41.8% TEXAS 22.6% USA 9.7%

PROJECTED JOB GROWTH 2016-2020 ANNUAL AVERAGE 11 0.0% 0.5% 1.0% 1.5% 2.0% Austin Orlando Raleigh Cape Coral Denver Salt Lake City Seattle San Jose Las Vegas Modesto New Haven Memphis East Scranton Providence Southwest & Mountains Bridgeport Albany Midwest Detroit Pittsburgh South Cleveland Pacific Dayton Source: Oxford Economics ADDITIONAL INFORMATION If you have any questions or require additional information, please contact any of the individuals below.

ANDREW LEVY KELSEY ROOP DOM ESPINOSA Senior Managing Director Senior Director Real Estate Analyst [email protected] [email protected] [email protected] 469-232-1961 512-532-1927 512-532-1934

DEBT STRUCTURES TODD SAVAGE PATRICK MCCORD ROBERT WOOTEN Managing Director Associate Managing Director [email protected] [email protected] [email protected] 469-232-1930 512-532-1928 512-532-1925

500 West 5th Street 2323 Victory Avenue Suite 1200 Suite 1200 www.hfflp.com Austin, TX 78701 Dallas, TX 75219 512-532-1900 214-265-0880 512-532-1901 214-265-9564

©2017 Holliday Fenoglio Fowler, L.P. (“HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 24 offices and is a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information, please visit hfflp.com or follow HFF on Twitter @HFF.

Holliday Fenoglio Fowler, L.P. (“HFF”) has been engaged by the owner of the property to market it for sale. Information concerning the property described herein has been obtained from sources other than HFF and we make no representations or warranties, express or implied, as to the accuracy or completeness of such information. Any and all references to age, square footage, income, expenses and any other property specific information are approximate. Any opinions, assumptions, or estimates contained herein are projections only and used for illustrative purposes and may be based on assumptions or due diligence criteria different from that used by a buyer. Buyers should conduct their own independent investigation and rely on those results. The information contained herein is subject to change.