Market Overview Village at Riverstone  The Competition – Coeur d’Alene Shopping Centers Coeur d’Alene, Idaho Offered at $17,900,000, the Village at Riverstone is competitively priced based on comparable regional investment sales included below.

Price Cap # Name / Reference Anchor(s) Location City State Year Blt Bldg SF Acrage Occupancy Sale Date Price NOI/SF /SF Rate

1 Manito Center - LISTING Super 1, Ross, Rite - Aid 29th & Regal Spokane WA 1969/2012 123,467 9.0 94% LISTING $19,742,750 $160 6.0% $10

2 Highland Hill Shopping Center Safeway, Dollar Tree, LA Fitness 6th Avenue Tacoma WA 1955-2008 113,167 12.5 100% 5/9/2017 $47,400,000 $419

3 Division Center Rite Aid, , Crunch Fitness SE Division Street Portland OR 1987 122,000 11.0 98% 4/5/2017 $33,000,000 $270

4 Raleys Center of Elk Grove Goodwill, Cleaners, Salons Elk Grove Blvd Elk Grove CA 2006 78,635 100% 4/3/2017 $28,848,406 $367 5.7% $21

5 The Commons at Federal Way Traditional enclosed mall 320th Street Federal Way WA 1975-2007 612,150 70.4 90% 3/21/2017 $46,500,000 $76 10.0% $8

6 The Terraces Trader Joes, Marshalls Western Avenue Rancho Palos Verdes CA 1989 94,371 6.1 100% 3/20/2017 $29,526,242 $313 5.5% $17 The Terraces (additional portion 7 thereof) LA Fitness, Starlight Cinemas Western Avenue Rancho Palos Verdes CA 1989-2016 78,542 5.1 89% 3/20/2017 $24,573,758 $313 5.5% $17

8 The Shoppes at Gateway Target (not included in sale) Gateway Street Springfield OR 1989-2016 707,951 111.0 97% 3/7/2017 $107,500,000 $152 7.4% $11

9 Valley View Plaza Grocery anchored Valley View Avenue Yorba Linda CA 1973 70,089 6.6 100% 3/7/2017 $18,500,000 $264 5.9% $16

10 Campus Marketplace CVS, Grocery, Petco Twin Oaks Valley Rd San Marcos CA 2000 105,595 15.4 97% 1/10/2017 $53,680,465 $508 2.5% $13

11 Martin Village Regal Cinemas 16 & IMAX I5 & Martin Way Lacey WA 2006 119,525 9.2 100% 12/30/2016 $16,750,000 $140

12 Crossroads Entertainment Center Harkins 18 Theater Chino Avenue Chino Hills CA 2006 90,085 10.5 100% 12/22/2016 $26,360,000 $293 7.0% $20

13 Felicita Town Center AT&T, GNC, Goodwill, Trader Joes Centre City Parkway Escondido CA 1990 108,477 7.7 95% 12/21/2016 $40,100,000 $370 6.0% $22

14 San Marcos Marketplace Best Buy, TJ Maxx Industrial Road San Carlos CA 2007 153,510 8.4 100% 10/25/2016 $89,782,214 $585 5.0% $29 Cost Plus, Bed Bath Beyond, Best Buy, 15 Gresham Station Old Navy Division & Civic Drive Gresham OR 2001 341,186 80.8 95% 9/27/2016 $86,300,000 $253 Barrows Road & Horizon 16 Progress Ridge Shopping Center & Cinetopia Theater Blvd Beaverton OR 2011 213,849 144.5 98% 8/19/2016 $95,197,000 $445

17 Northpark Village Square Ralphs Grocery & RiteAid McBean Parkway Valencia CA 1999 87,094 12.2 100% 7/15/2016 $58,000,000 $666 4.2% $28

18 Poinsetta Plaza Office Depot, Ross, Sally Beauty Telephone Road Ventura CA 1986-2004 168,164 3.1 84% 6/30/2016 $50,000,000 $297 5.5% $16

19 Lake Stevens Marketplace Dollar Tree, AutoZone, Ace Hardware 91st St Lake Stevens WA 1993 96,341 12.3 81% 6/16/2016 $17,500,000 $182 7.2% $13 Dollar Tree, Rite Aid, Sally Beauty, Wells 20 The Crossings Fargo Deer Valley Road Antioch CA 1990-2005 121,943 10.2 95% 6/10/2016 $26,000,000 $213 6.0% $13

21 Grocery Outlet Center Grocery Outlet Thain Road Lewiston ID 1995 29,850 3.4 100% 3/8/2016 $4,185,000 $140 7.3% $10

22 Opportunity Center Dollar Tree, Grocery Outlet East Sprague Spokane Valley WA 1979 69,426 5.3 78% 2/18/2016 $5,325,000 $77 6.6% $5

23 Ironwood Square , Rite Aid, Staples, Starbucks Ironwood & Highway 95 Coeur d'Alene ID 1990 153,585 8.7 80% 12/23/2014 $15,350,000 $100 7.3% $7

24 Orchard's Shopping Center Rosauers, Wells Fargo South 72nd Avenue Yakima WA 2001 88,279 10.4 100% 6/3/2014 $16,000,000 $181 6.5% $12

25 Manito Center Super 1, Ross, Rite - Aid 29th & Regal Spokane WA 1969/2012 123,467 9.0 80% 1/8/2014 $13,000,000 $105 7.0% $7 Average $238 6.2% $15 Low $76 2.5% $5 High $666 10.0% $29

 The Village at Riverstone Regal, Red Robin, Buckle, Alliance Title Riverstone / Interstate 90 Coeur d'Alene ID 2008 92,000 99% $17,900,000 $195 6.2% $12