1604 99,204 CPD 1604 101,873 CPD 1604

CPD CPD 29,828

187,048

REGAL FIESTA TRAILS

REGAL CINEMAS — FIESTA TRAILS CORPORATE GROUND LEASE ON 10.35 ACRES SAN ANTONIO, TX

CONFIDENTIAL OFFERING MEMORANDUM — FIESTA TRAILS CORPORATE GROUND LEASE ON 10.35 ACRES CONFIDENTIAL OFFERING MEMORANDUM 12631 Vance Jackson Road San Antonio, TX 78230

presented by

KEVIN CATALANI VICE PRESIDENT INVESTMENT SALES 210.841.3237 [email protected] OFFERING MEMORANDUM OFFERING

ASHER REILLY PARTNER 210.841.3213 [email protected]

REATA REAL ESTATE INVESTMENT SALES 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 CONFIDENTIAL OFFERING MEMORANDUM — REGAL FIESTA STADIUM 16, SAN ANTONIO or withdrawal. ©REATA Real Estate Services, LP SECTION I EXECUTIVE SUMMARY • Investment Highlights • Lease Abstract • Tenant Profile

SECTION II PROPERTY OVERVIEW • Map • Aerials • Zoning Map OF CONTENTS TABLE • Fiesta Trails Shopping Center Site Plan

SECTION III TRADE AREA OVERVIEW • San Antonio Market Overview • IH-10 Corridor Overview • South Texas Medical Center Overview • Multi-Family Market Overview • Demographics

SECTION IV AGENCY DISCLOSURE

CONFIDENTIAL OFFERING MEMORANDUM — REGAL FIESTA STADIUM 16, SAN ANTONIO EXECUTIVE SUMMARY EXECUTIVE

REATA Investment Sales and REATA Land have been exclusively retained to offer for sale Regal Cinemas Fiesta Trails (the “Property”) in San Antonio, TX. Regal Fiesta Trails is a 56,000 SF Regal movie theatre situated on a 10.358 acre land tract within Fiesta Trails Shopping Center. Fiesta Trails is an H-E-B-anchored asset located at Interstate 10 and DeZavala Road, one of the most dominant retail intersections in San Anto- nio. Regal Fiesta Trails has over four years remaining on their original 25-year ground lease, offering secure, maintenance-free cash flow while awaiting a potential redevelopment opportunity. This offering presents a unique opportunity to acquire a premiere infill site with an attractive in-place yield, located in the thriving San Antonio market.

CONFIDENTIAL OFFERING MEMORANDUM — REGAL CINEMAS, FIESTA TRAILS — SAN ANTONIO 1 INVESTMENT HIGHLIGHTS

BOOMING SAN ANTONIO MARKET Regal Cinemas Fiesta Trails is located in a dense, infill corridor of north central San Antonio, TX. San Antonio is the seventh largest city in the with a 2014 estimated population of 1,436,697, according to the U.S. Census Bureau. The 2014 estimate represents an 8.23% population increase from the 2010 Census, the largest percentage increase among the top ten U.S. cities. In addition, the San Antonio-New Braunfels MSA (#25 in the U.S.), had the second largest percentage increase in estimated population among the nation’s top 25 MSAs during the same time period. A recent Forbes Magazine article has included San Antonio as part of one of the fastest growing regional economies in the nation, due to its remarkable job and population growth.

DOMINANT SAN ANTONIO INTERSECTION SUMMARY EXECUTIVE Regal Cinemas Fiesta Trails is located within Fiesta Trails Shopping Center, a 488,000 SF H-E-B-anchored asset located at the Interstate 10 — DeZavala Road interchange. This intersection is home to several other powerful an- chors including Sam’s Club, Walmart Supercenter and Home Depot, making it one of the city’s most dominant retail nodes.

IRREPLACEABLE, INFILL REAL ESTATE The Property is positioned on the southeastern portion of Fiesta Trails Shopping Center, fronting Vance Jackson Road. There are an estimated 107,817 people and 44,454 households within a 3-mile radius of the site. The offering is a rare opportunity to acquire a site of this size in this high density trade area.

IDEALLY CONFIGURED LAND TRACT The 10.358 acre site is rectangular in shape with over 500 feet of frontage along Vance Jackson Road. In the event Regal were not to renew their lease, the layout of the site is ideally configured for several redevelopment options.

MAINTENANCE-FREE CASH FLOW WITH ATTRACTIVE IN-PLACE YIELD Regal Cinemas Fiesta Trails is currently operating on an original 25-year ground lease with over four years remaining (July 31, 2021 expiration). Regal maintains the entire parcel and is responsible for roof and structure of the building, creating no landlord responsibilities.

12% RENT ESCALATIONS FOR OPTION TERMS Upon expiration in 2021, each of Regal’s renewal options are subject to 12.00% rent increases. In the event they were to exercise their option, this would result in a 90+ basis point increase in yield.

CONFIDENTIAL OFFERING MEMORANDUM — REGAL FIESTA STADIUM 16, SAN ANTONIO 2 LEASE ABSTRACT

TENANT Act III Inner Loop Theatres, Inc. DBA: Regal Fiesta Stadium 16

LOCATION 12631 Vance Jackson Road PRICING San Antonio, TX 78230 Offering Price $6,035,000 BUILDING SIZE Price PSF to the Land $13.38 56,000 SF Current Ground Rent $422,433.96 LAND AREA Current Cap Rate 7.00%

10.358 acres / 451,173 SF SUMMARY EXECUTIVE

YEAR BUILT 1996 RENT SUMMARY Lease Years Effective Dates Annual Base Rent Monthly Base Rent ZONING C-3, C-3 ERZD, C-2 ERZD 21 — 25 Aug. 1, 2016 — Jul. 31, 2021 $422,433.96 $35,202.83 (see Zoning Map, page 11) Extension Terms 26 — 30 Aug. 1, 2021 — Jul. 31, 2026 $473,126.04 $39,424,17 31 — 34 Aug. 1, 2026 — Jul. 31, 2031 $529,901.04 $44,158.42 36 — 40 Aug. 1, 2031 — Jul. 31, 2036 $593,490.00 $49,457.50 41 — 45 Aug. 1, 2036 — Jul. 31, 2041 $664,707.96 $55,392.33

LEASE SUMMARY Tenant Act III Inner Loop Theatres, Inc. Tenant Trade Name Regal Fiesta Stadium 16 Original Lease Term 25 Years Lease Commencement August 1, 1996 Lease Expiration July 31, 2021 Rent Increases 12% Every 5 Years Renewal Options Four, five-year options with 12% rent increases Lease Type Ground Lease Roof & Structure Tenant Responsibility

CONFIDENTIAL OFFERING MEMORANDUM — REGAL CINEMAS, FIESTA TRAILS — SAN ANTONIO 3 Regal Entertainment Group, abbreviated These brands benefit from Regal’s REG, is an American chain leadership position in a stable, mature headquartered in unincorporated Halls industry. Long-term box office trends Crossroads, just north of Knoxville, TN. show annual growth of 4%, while box One of the country’s largest motion office revenue has exceeded $10 billion picture exhibitors, Regal operates 7,310 in each of the last seven years. Regal regmovies.com also generates significant free cash flow screens in 565 theaters in 42 states along reaching approximately $250 million with Guam, Saipan, American Samoa and for the last five years, well ahead of its the District of Columbia as of September competitors. 30, 2016. In 2015, the chain welcomed 217 million visitors. Regal’s business strategy focuses on prudent industry consolidation and

Regal develops, acquires and operates partnership opportunities, managing, SUMMARY EXECUTIVE multi-screen theatres primarily in mid- expanding and upgrading existing assets sized metropolitan markets and suburban with new technologies and customer growth areas of larger metropolitan amenities and realizing selective growth markets throughout the United States. opportunities through new theatre The three main brands operated by Regal construction. A public company, Regal are Regal Cinemas, Edwards Theatres, and trades on the New York Stock Exchange Theatres. as RGC.

CONFIDENTIAL OFFERING MEMORANDUM — REGAL CINEMAS, FIESTA TRAILS — SAN ANTONIO 4 CONFIDENTIAL OFFERING MEMORANDUM — REGAL MEMORANDUM CONFIDENTIAL OFFERING FIESTA STADIUM SAN 16, ANTONIO REGAL FIESTA TRAILS

5 PROPERTY OVERVIEW 1604 99204 CPD 1604 101873 CPD 1604 PROPERTY OVERVIEW

29828 CPD

187048 CPD

REGAL FIESTA TRAILS

CONFIDENTIAL OFFERING MEMORANDUM — REGAL FIESTA STADIUM 16, SAN ANTONIO 6 1604 1604

99204 CPD 1604 PROPERTY OVERVIEW

CPD 187048 29828 CPD

REGAL FIESTA TRAILS CONFIDENTIAL OFFERING MEMORANDUM — REGAL CINEMAS,FIESTA STADIUM FIESTA 16, TRAILS SAN ANTONIO — SAN ANTONIO 7 PROPERTY OVERVIEW

REGAL FIESTA TRAILS

187048

CPD

29828 CPD

CONFIDENTIAL OFFERING MEMORANDUM — REGAL CINEMAS,FIESTA STADIUM FIESTA 16, TRAILS SAN ANTONIO — SAN ANTONIO 8 1604 99,204 CPD 1604 101,873 CPD 1604 PROPERTY OVERVIEW

CPD CPD 29,828

187,048

REGAL FIESTA TRAILS

CONFIDENTIAL OFFERING MEMORANDUM — REGAL CINEMAS,FIESTA STADIUM FIESTA 16, TRAILS SAN ANTONIO — SAN ANTONIO 9 PROPERTY OVERVIEW

CONFIDENTIAL OFFERING MEMORANDUM — REGAL CINEMAS,FIESTA STADIUM FIESTA 16, TRAILS SAN ANTONIO — SAN ANTONIO 10 DE AVALA RD

SUECT R F T

SUECT ONING

EDARD RECARGE ONE DISTRICT LINE VANCE ACSON RD PROPERTY OVERVIEW

C3 ERD NEWOA PAR

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INDIAN MEADOWS

CONFIDENTIAL OFFERING MEMORANDUM — REGAL CINEMAS,FIESTA STADIUM FIESTA 16, TRAILS SAN ANTONIO — SAN ANTONIO 11 SITE PLAN

NORTH

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A0F PROPERTY OVERVIEW TRAFFIC LIGHT A0E A0H

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B0X AD B0E R0D B0G FIESTA TRAILS SOPPING CENTER THE D I S COUNT P A RTY SUPER S TORE SUITE TENANT SF SUITE TENANT SF A0A MARSHALL'S 30,416 SF C0L THE JOINT... THE C HIROPRACTIC PLACE 1,200 SF A0A MARSHALLS 30,416 C0L JOINT CHIROPRATIC PLACE 1,200 A0E OFFICE MAX 23,500 SF C0P EARL OF SANDWICH 2,600 SF B0J A0E OFFICE MAX 23,500 C0P EARL OF SANDWICH 2,600 E0C E0E E0J E0L A0F STARBUCKS 1,490 SF C0R T-MOBILE 2,800 SF B0M E0A E0G A0F STARBUCKS 1,490 C0R T-MOBILE 2,800 B0N A0H LA Z BOY FURNITURE G ALLERIES 28,510 SF D0A MOD P IZZA 2,400 SF B0P A0H LA-Z-BOY FURNITURE GALLERIES 28,510 D0A MOD PIZZA 2,400 B0A STEINMART 37,000 SF D0D MIRACLE NAIL 1,500 SF B0A STEINMART 37,000 D0D MIRACLE NAIL 1,500 B0V B0S X0B B0E TUESDAY MORNING 13,000 SF D0F DR. JOLLY 2,400 SF B0T R0C B0E TUESDAY MORNING 13,000 D0F DR. JOLLY 2,400 B0G PARTY C ITY 16,800 SF D0H TOTAL VISION 1,800 SF B0G PARTY CITY 16,800 D0H TOTAL VISION 1,800 B0J PETCO 14,400 SF D0J FANTASTIC SAM'S 1,080 SF B0J PETCO 14,400 D0J FANTASTIC SAM’S 1,080 UMI ERRY OGURT AVAILABLE (30' X 60') 1,800 SF VANCE JACKSON ROAD B0M B0M YUMMYY BERRYB YYOGURT 2,0002,000 SF D0LD0L AVAILABLE 1,800 B0N B0NAVAILABLEAVAILABLE (25' X 110') 2,7502,750 SF D0ND0N WING WING DADDY DADDY’S'S SAUCE HOUSE 4,020 SF4,020 B0P B0P CONCENTRACONCENTRA 8,0408,040 SF E0AE0A WESTERN WESTERN BEVERAGES BEVERAGES 4,060 SF4,060 B0S B0SAVAILABLEAVAILABLE (70' X 121') 8,4758,475 SF EOCE0C RADIO RADIO SHACK SHACK 2,100 SF 2,100 B0T B0T ASIANASIAN CUISINE C UISINE 2,2702,270 SF E0GE0E WING A DONG STOP RESTAURANT 2,100 SF4,410 B0V B0V DESTINYDESTINY BRIDALS BRIDALS 2,5502,550 SF E0JE0G A D JENNYONG R ESTAURANTCRAIG 4,410 SF 1,750 B0X B0XSTORAGESTORAGE 6,0006,000 SF EOLE0J JENNY COMPLETE C RAIG URGENT CARE 1,750 SF2,450 C0A C0A LITTLELITTLE CAESAR’S C AESAR’ S 1,2341,234 SF R0AE0L COMPLETE JOE’S CRAB URGENT SHACK C ARE 2,450 SF6,700 C0B C0B ANYA NYLAB L ABTEST TEST NOW NOW 866866 SF R0BR0A JOESCHILI’S C RAB SHACK 6,700 SF5,999 C0C C0CBASKIN-ROBBINSBASKIN-ROBBINS 1,2001,200 SF ROCR0B CHILI BURGER'S KING 5,999 SF2,600 C0E C0EGNCGNC 1,3801,380 SF RDR0C BURGER REGAL K INGCINEMA FIESTA TRAILS2,600 ,SF C0G C0G ROCKROCK SAN’S SAN CAFE'S C AFE 1,3201,320 SF T0AR0D ACTAVAILABLE III THEATERS 56,000 SF96,100 C0H C0H KEVAKEVA JUICE JUICE 1,100 SF1,100 X0BX0B WELLS WELLS FARGO FARGO ATM ATM 300 SF 300 C0J C0J SALLYSALLY BEAUTY BEAUTY SUPPLY SUPPLY 1,3001,300 SF

y. CONFIDENTIAL OFFERING MEMORANDUM — REGAL FIESTA STADIUM 16, SAN ANTONIO 12 CONFIDENTIAL OFFERING MEMORANDUM — REGAL MEMORANDUM CONFIDENTIAL OFFERING FIESTA STADIUM SAN 16, ANTONIO able, especially compared toable, other Tex major is city afford The well expand. and perform relocate existing here and players continue to AntonioSan is evolving more as businesses low cost of Antonio the in living San market. business environment, cheap labor force and drivengrowth by favorable has been avery of this Much was 4.1%. just 2016 September year rate whilepast the unemployment in new were jobs createdrevealed the in 21,500 ures from the Texas Workforce Commission fig growth. Q3 economic tremendous 2016 show Antonio the San MSA is experiencing indicators employment Recent and housing OVERVIEW MARKET SAN ANTONIO - - - San Antonio WithSan near many so MSA. projects across the projects 48 in construction under are units currently 11,904 process. permitting new having units entered 1,450 the and units with one, than less 4,948 proposed temporary Antonio is showing signs of aslowdown, a albeit multi-familyThe San in pipeline construction come alimiting growth. factor additional on entry-levelclining market housing could be This is stock. aconcernhousing since the de the in percentage ofa reduction affordable fees developmentprices, costs are and driving However,priced $250,000. below rising land Metros,as with 45% of starts all new housing - - - reached an average of $1.31 PSF. average an reached of $1.31 totinued ayear-over-year climb on basis and exceptPSF for which Class Aassets have con Rentsmarkets. for Antonio San are at $1.10 rental and ratescy noticeably several in sub occupan the two which next years, will impact to delivered be to Antonio the San market over are units expected 16,600 beyond. and 2018 for phase the construction completioning in enter by replenished will projects be pipeline multi-family The issues. absorption ly address will like new in projects Apause new projects. towhich has led aslower rate absorption for the completion, market saturateding has been - - - - -

13 TRADE AREA OVERVIEW CONFIDENTIAL OFFERING MEMORANDUM — REGAL MEMORANDUM CONFIDENTIAL OFFERING FIESTA STADIUM SAN 16, ANTONIO The South TexasThe Center Medical The IH-10 corridor has consistently been one (STMC) for hub is amajor health 240,000 SFof retail240,000 office space). and The SOUTH TEXAS MEDICAL CENTER OVERVIEW MEDICAL TEXAS SOUTH Cantera (1,246,938 SF) and The Rim (more The and SF) Cantera (1,246,938 at San Antonioat to San 29,000 has climbed nearly of theat University the campus main of Texas areas —the South Texas Center. Medical IH-10 CORRIDOR OVERVIEW CORRIDOR IH-10 students. The trade to area The is home two of students. of Antonio’s San active areas most for all entities on a 900-acre campus campus entities a900-acre on care, education and research corridor also continues also corridor to from benefit its Federal Acelity all the Credit FBI and Union, than two million SF) as well as than Éilan as two (nearly SF) million the city’s power centers at La Shops —The maintain apresence Enrollment the in area. ro Energy, NuStar Energy, Service Security Vale USAA, options. entertainment and ping complete stock of and housing shop range desirable schools, quality employers, major to due concentration its types product of proximity to of the one city’s fastest growing - - - As of Q3 2016, the Far of Q3As 2016, Submar Northwest five higher educational institutions, twelveeducational five higher With parts of three attractiveWith parts submarkets in velopment. which includes 280 acres 280 which includes slated for continued average rents of $1.44 PSF.average rents of $1.44 This submarket al outpatiental related 45 visits medically and struction withstruction approximately pro units 900 with ofstabilized 95.3% Class Aoccupancy currently has almost 3,400 units under con under units currently 3,400 has almost separate medical, dental and nursing schools, schools, nursing and dental separate medical, experiencing unprecedentedexperiencing multi-family de center annu million with approximately 5.21 medical is arobust STMC development. The MULTI-FAMILY OVERVIEW the San Antonio MSA, the IH-10 corridor is corridor Antoniothe the San IH-10 MSA, treatment, research and education facilities; posed. had IH-10 along ket of 1604 Loop outside ing in excess of 4,200 patient beds, 27,386 patient excess in beds, ing of 4,200 ployees at associated businesses. facility employees em 29,000 medical and institutions total five specialty and hospitals The Northwest Submarket Northwest The west of IH-10, ------Oaks at Huebner Mark • The • Oxford Center at Medical • Broadstone Wurzbach • Villas Rim at The • Tribute at Rim • Ridgeview Rim at The • Celeste Cantera at La • Azure The North Central submarket North ofThe east HI-10 A occupancy of with 95.1% A occupancy rents averaging 92.9% with rents averaging $1.21 PSF.92.9% with rents averaging There $1.21 $1.29 PSF and 432 units under construction construction under units 432 and PSF $1.29 with an additional 598 units proposed. 598 units with additional an the UTSA and the main STMC which includes and inside of Loop 1604 saw astabilized Class of inside 1604 Loop and are approximately construc under 933 units cepts making theircepts entrance making Anto the in San several and opment new national retail con campus, had a stabilized Class A occupancy of astabilized had Class Aoccupancy campus, Retail the in Far activity West market includes proposed. tion with 340 another PROPERTIES UNDER CONSTRUCTION nio market.nio many new projects, a proposed Costco aproposed many devel new projects,

units 300 units 380 240 units 276 Units units 427 245 units 361 Units units 310

- - - - -

14 TRADE AREA OVERVIEW ©2017, Sites USA, Chandler, Arizona, 480-491-1112 CONFIDENTIAL OFFERING MEMORANDUM — REGAL MEMORANDUM CONFIDENTIAL OFFERING FIESTA STADIUM SAN 16, ANTONIO DEMOGRAPHICS Calculated using Weighted Block Centroid from Block Groups Block from Centroid Block Weighted using Calculated La 2 S 1 R 0 2 e t 0 U

EDUCATION / 6 Lo 0 BUSINESS INCOME RACE ANDETHNICITY HOUSEHOLDS POPULATION g 3 2 - M (AGE 25+) a n 1 l 0

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F 1 2017 Estimated Residential Population per Business 2017 Estimated Employee Population perBusiness 2017 Estimated Total Employees 2017 Estimated Total Businesses 2017 Estimated Graduate Degree 2017 Estimated Bachelors DegreeOnly 2017 Estimated Associates DegreeOnly 2017 Estimated Some College 2017 Estimated HighSchool Graduate 2017 Estimated Some HighSchool (Grade Level9to 11) 2017 Estimated Elementary (Grade Level0to 8) 2017 Estimated Per Capita Income 2017 Estimated MedianHouseholdIncome 2017 Estimated Average HouseholdIncome 2017 Estimated Hispanic 2017 Estimated Other Races 2017 Estimated American Indian orNative Alaskan 2017 Estimated Asian orPacific Islander 2017 Estimated Black orAfrican American 2017 Estimated White Historical Annual Growth 2000to 2017 Projected Annual Growth 2017to 2022 2000 CensusHouseholds 2010 CensusHouseholds 2022 Projected Households 2017 Estimated Households 2017 MedianAge Historical Annual Growth 2000to 2017 Projected Annual Growth 2017to 2022 2000 CensusPopulation 2010 CensusPopulation 2022 Projected Population 2017 Estimated Population V 2 0 i 9 e a

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m i $30,823 $55,271 $64,773

r 15,178 10,226 15,935 14,270 a 11.9% 35.3% 21.7% 12.2% 48.5% 12.1% 73.2% 2,970 4,899 7,141 6,790 7,018 d 9.7% 2.0% 7.2% 0.6% 7.6% 6.6% 7.6% 1.0% 6.1% 2.3% 14.3 15.2 30.1 i 998 u s 3

m i $31,180 $66,045 $75,290 118,087 107,817

r 67,832 92,019 31,107 38,958 46,909 44,454 73,981 a 16.6% 29.0% 22.4% 14.9% 45.2% 12.5% 71.5% 6,584 d 9.0% 3.7% 4.4% 0.6% 8.4% 7.0% 2.5% 1.1% 2.7% 1.9% 16.4 10.3 32.5 i u s 5

m i 251,083 321,403 293,209 186,397 $32,839 $68,415 $79,476 106,860 127,815 120,892 201,085

r 15,313 85,020 a 16.4% 27.7% 22.7% 17.4% 47.2% 12.9% 72.9% d 8.6% 3.7% 3.6% 0.6% 6.9% 6.7% 2.5% 1.1% 2.7% 1.9% 19.1 12.2 33.5 i u s RS1

This report was produced using data from private and government sources deemed to be reliable. The information herein is provided without representation or warranty.

15 TRADE AREA OVERVIEW AGENCY DISCLOSURE

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 informaton 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 partes 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 listng 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 writng 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 Asher Reilly 523151 [email protected] 210.930.4111 Sales Agent 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 16

CONFIDENTIAL OFFERING MEMORANDUM — REGAL FIESTA STADIUM 16, SAN ANTONIO 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.