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Shops at Turner Hill 8200 Mall Parkway, Lithonia, Ga 30038 ™ Offering Memorandum Confidentiality & Disclaimer Statement

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Shops at Turner Hill 8200 Mall Parkway, Lithonia, Ga 30038 ™ Offering Memorandum Confidentiality & Disclaimer Statement SHOPS AT TURNER HILL 8200 MALL PARKWAY, LITHONIA, GA 30038 ™ OFFERING MEMORANDUM CONFIDENTIALITY & DISCLAIMER STATEMENT This Offering Memorandum contains select information pertaining to the business and affairs of Shops at Turner Hill located at 8200 Mall Parkway, Lithonia, GA 30038 (“Property”). It has been prepared by Matthews Retail Advisors . This Offering Memorandum may not be all-inclusive or contain all of the information a prospective purchaser may desire. The information contained in this Offering Memorandum is confidential and furnished solely for the purpose of a review by a prospective purchaser of the Property. It is not to be used for any other purpose or made available to any other person without the written consent of Seller or Matthews Retail Advisors . The material is based in part upon information supplied by the Seller and in part upon financial information obtained from sources it deems reliable. Owner, nor their officers, employees, or agents makes any representation or warranty, express or implied, as to the accuracy or completeness of this Offering Memorandum or any of its contents and no legal liability is assumed or shall be implied with respect thereto. Prospective purchasers should make their own projections and form their own conclusions without reliance upon the material contained herein and conduct their own due diligence. By acknowledging your receipt of this Offering Memorandum for the Property, you agree: 1. The Offering Memorandum and its contents are confidential; 2. You will hold it and treat it in the strictest of confidence; and 3. You will not, directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum or its contents in any fashion or manner detrimental to the interest of the Seller. Owner and Matthews Retail Advisors expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers to purchase the Property and to terminate discussions with any person or entity reviewing this Offering Memorandum or making an offer to purchase the Property unless and until a written agreement for the purchase and sale of the Property has been fully executed and delivered. If you wish not to pursue negotiations leading to the acquisition of the Property or in the future you discontinue such negotiations, then you agree to purge all materials relating to this Property including this Offering Memorandum. A prospective purchaser’s sole and exclusive rights with respect to this prospective transaction, the Property, or information provided herein or in connection with the sale of the Property shall be limited to those expressly provided in an executed Purchase Agreement and shall be subject to the terms thereof. In no event shall a prospective purchaser have any other claims against Seller or Matthews Retail Advisors or any of their affiliates or any of their respective officers, Directors, shareholders, owners, employees, or agents for any damages, liability, or causes of action relating to this solicitation process or the marketing or sale of the Property. This Offering Memorandum shall not be deemed to represent the state of affairs of the Property or constitute an indication that there has been no change in the state of affairs of the Property since the date this Offering Memorandum. Matthews Retail Advisors Table of Contents PRICING & FINANCIAL ANALYSIS Investments Highlights.................................................................. 2 Executive Summary.........................................................................3 Market Financing Assumptions ...................................................4 Assumptions .................................................................................... 5 Schedule of Prospective Cash Flow.......................................... 6 Schedule of Leveraged Prospective Cash Flow .....................7 Rent Roll ............................................................................................ 8 Company Overview - Panera Bread ..........................................11 PROPERTY DESCRIPTION Physical Description .....................................................................15 Tenant Map......................................................................................16 Birds Eye .......................................................................................... 17 Site Plan ...........................................................................................18 Regional Map ..................................................................................19 DEMOGRAPHICS City Overview | Lithonia, GA .......................................................21 MSA Overview | Atlanta, GA ......................................................22 Demographics ...............................................................................23 EXCLUSIVELY LISTED BY: Kyle B. Matthews, CCIM Patrick Toomey Chairman & CEO Managing Partner DIRECT +1.310.919.5757 DIRECT +1.310.919.5765 MOBILE +1.310.622.3161 MOBILE +1.310.403.4984 [email protected] [email protected] License No. 01469842 License No. 00881133 Matthews Retail Advisors P. iv ™ OFFERING MEMORANDUM | Shops At Turner Hill Pricing & Financial Analysis ™ PRICING AND FINANCIAL ANALYSIS PROPERTY DESCRIPTION DEMOGRAPHICS Investments Highlights • HIGH QUALITY RETAIL CENTER 81% occupied with established national and regional tenants at attractive rents. • UPSIDE OPPORTUNITY through rent growth and outparcel development opportunity. • STRONG DEMOGRAPHICS AND GROWTH IN THE 10-MILE TRADE AREA: 405,791± people with a $66,058 average household income in a strong growth market at 9% population growth and 9% projected 5-year household growth rate. • EXCELLENT REGIONAL LOCATION near The Mall At Stonecrest, a 1.3 million SF regional mall, and is the largest concentration of retail outside Atlanta’s eastern perimeter and the dominant retail destination on the I-20 Conyers/ Covington/Augusta corridor. • BENEFITS FROM PROXIMITY TO THE MALL AT STONECREST Anchored by Sears, Macy’s, Dillard’s, Kohl’s and JC Penney, the Mall At Stonecrest provides a strong regional draw. Peripheral mall development includes many major junior department stores and national retailers, such as: AMC Theaters, Ashley Furniture, Marshall’s, Ross, Staples, Haverty’s, Petco, Babies R Us, IHOP, Chili’s, Applebees, Chick-fil-A, Olive Garden and more. • HIGH TRAFFIC COUNTS with approximately 19,900± vehicles per day on Turner Hill Road south of I-20. • EXCELLENT VISIBILITY AND SIGNAGE, FUNCTIONAL SITE PLAN WITH EASY ACCESS and generous parking. • ELIGIBLE FOR NEW FINANCING at attractive rates and terms, current credit market conditions are very favorable for quality properties. P. 2 ™ OFFERING MEMORANDUM | Shops At Turner Hill PRICING AND FINANCIAL ANALYSIS PROPERTY DESCRIPTION DEMOGRAPHICS Executive Summary SHOPS AT TURNER HILL 8200 MALL PARKWAY LITHONIA, GA 30038 Suggested List Price ................................................................ $6,182,000 Gross Leasable Area ..................................................................32,200 SF Price/SF.....................................................................................................$192 CAP Rate - Current ............................................................................. 7.50% Occupancy .................................................................................................81% Year 1 NOI ....................................................................................... $463,652 Year 3 NOI (Stab.) ..........................................................................$548,722 Year Built ................................................................................................ 2003 Lot Size .................................................................................... 14.718 Acres* * Includes 10.168 acres behind center which may not be developable. Shops At Turner Hill | OFFERING MEMORANDUM ™ P. 3 PRICING AND FINANCIAL ANALYSIS PROPERTY DESCRIPTION DEMOGRAPHICS Market Financing Assumptions First Trust Deed Market financing assumptions provided by Brian Krebs of Barrington LTV 70% Capital, (818) 606-9476. Terms are subject to change with market Loan Type CMBS conditions, property-level conditions, and sponsor qualifications. Origination Fee 1% Please contact Brian for a specific loan quote. Recourse/Non-Recourse TBD Interest Rate 4.25% Amortization 25 Years Term 10 Years P. 4 ™ OFFERING MEMORANDUM | Shops At Turner Hill PRICING AND FINANCIAL ANALYSIS PROPERTY DESCRIPTION DEMOGRAPHICS Assumptions Property Timing Property Operating Parameters Growth Rates: Capital Expense (Year 1): Start of Analysis January 2016 Market Rents 3% Capital Reserves $0.15/SF End of Analysis December 2026 Operating Expenses 3% Analysis Period 10 Years Real Estate Taxes 2% General Vacancy: Capital Reserves 3% Year 1-10 3% for non credit tenants CPI 3% Market Rents Operating Expenses (Year 1): Shop Space $14.00 Real Estate Taxes Reassessed Lease Type NNN Insurance 2015 Budget CAM 2015 Budget Management Fees 3% of EGR Shops At Turner Hill | OFFERING MEMORANDUM ™ P. 5 PRICING AND FINANCIAL ANALYSIS PROPERTY DESCRIPTION DEMOGRAPHICS Schedule of Prospective Cash Flow Year 1 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 $ / SF Dec-2016 Dec-2017 Dec-2018 Dec-2019 Dec-2020 Dec-2021 Dec-2022 Dec-2023 Dec-2024 Dec-2025 Dec-2026 EFFECTIVE GROSS REVENUE Base Rental Revenue $17.34 558,344 541,049 550,730 554,372 570,458
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