KOLIN BUILDING

OFFERING MEMORANDUM KOLIN BUILDING

INVESTMENT CONTACTS

Daren Duke +1 503 499 0056 [email protected]

Mike Thomas +1 503 499 0059 [email protected]

Irfan Tahir +1 503 757 1960

405

This Offering Memorandum is intended solely for your limited use and benefit in determining whether you desire to express any further interest in the purchase of the property. Neither Owner nor Broker, including any of their respective officers, have made any representation or warranty, expressed or implied, as to the accuracy or completeness of the contents of this Offering Memorandum.

The prospective purchaser should perform its own separate and independent due diligence as it relates to the physical, environmental, legal, and all other material attributes that might be considered in the acquisition of the property. T A B L E O F C O N T E N T S

Executive Summary...... 4 Property Profile...... 10 Comparables...... 18 Market Overview...... 22

405 Executive Summary

Colliers International is offering the uniquely attractive opportunity to purchase the Kolin Building, an office asset located in Portland Oregon’s historic Old Town neighborhood in the heart of downtown. Built in 1905, this multi-tenant building comprises two stories within walking distance of numerous restaurants, shops, services and city parks.

Highlights

• Classic Portland building located in Old Town Portland, near Downtown and the Pearl District

• Excellent access to downtown Portland, I-405 and I-5, Union Station Train Depot, Portland Streetcar, Broadway Bridge and Steel Bridge

• Conveniently located near MAX stops and Trimet bus lines

• Controlled access

• Air conditioned building

• Elevator served

• Nearby monthly parking available

• Renovated in 2000

• Each space has its own kitchenette

Please contact brokers for pricing guidance

4 COLLIERS INTERNATIONAL | PORTLAND EXECUTIVE SUMMARY 5 Neighborhood Overview

Old Town/Chinatown was the original urban core of Portland and In a step towards revitalization of the area, the Lan Su Chinese was declared a National Historic Landmark in 1977, its national Garden opened September 14, 2000. The $12.8 million park covers significance based on its historic importance as a major 19th- an entire city block and was built by 65 artisans from Suzhou, century west coast port, and also for its collection of cast-iron China of imported materials (though all plants were grown locally). commercial architecture. More recently, NW 3rd and 4th Avenues received streetscape improvements, including plaques describing historical features. Attractions include the Saturday Market, the Shanghai Tunnels, Two block-long “festival streets” that can easily be used for street Lan Su Chinese Garden, Amtrak’s Union Station, and Ankeny festivals were also created between these streets. Square, site of Portland’s oldest public art work, the Skidmore Fountain. Other major organizations based in Chinatown include the Port of Portland, Oregon Department of Transportation’s Portland offices and NW Natural Gas.

Waterfront Park 0.5 miles from Kolin Bldg

6 COLLIERS INTERNATIONAL | PORTLAND Jamison Square Park

US Postal Service

Steel Bridge

KOLIN BUILDING

Waterfront Park Waterfront

NW 6TH 6TH 6TH NW NW

Shanghai Tunnels

Waterfront Park 0.5 miles from Kolin Bldg Portland Portland MAX Green MAX Blue MAX Stop Bus Stop Streetcar Streetcar & Yellow & Red Line Stop Lines Lines

EXECUTIVE SUMMARY 7 Broadway Corridor Project

Located right outside of Prosper Portland’s Broadway Corridor project, the Kolin Building is poised to benefit immensely from neighborhood improvements, as well as new retail, office, housing, and green spaces.

The Broadway Corridor project offers the potential to create 5 million+ square feet of new economic, business, social and community development opportunities. The site is at the heart of a transportation network that includes light rail, streetcar, and bus, with multiple stops of each mode within 1/8 of a mile of the site, as well as Prosper Portland-owned Union Station. The location and size of the Broadway Corridor represents an opportunity to realize Prosper Portland’s vision for an equitable economy by advancing prosperity, creating a vibrant neighborhood, and supporting living wage jobs.

For more information on this ongoing project, visit KOLIN BUILDING www.broadwaycorridorpdx.com

8 COLLIERS INTERNATIONAL | PORTLAND Opportunity Zone

The Kolin Building is located in one Oregon’s Opportunity Zones.

Opportunity Zones can deliver significant tax savings on medium- to long-term investments in economically disadvantaged communities. This new tax incentive pertains to both the capital gains invested initially through a qualified opportunity fund (QOF), as well as future capital gains earned on the original investment in zone-based businesses or projects.

Each zone consists of an entire census tract, as established for the decennial U.S. Census. Tracts vary in size but generally align with population density. Oregon has 834 census tracts, more than 300 of which were eligible by meeting the definition of a “low income community” in terms of median family incomes or poverty rates.

With the opportunity zone incentive, the capital gains arising from sale to an unrelated person that are then transferred into a qualified opportunity fund within 180 days will have their tax liability delayed or deferred until December 31, 2026, at the latest. The taxpayer decides how much of his/her newly realized gains to invest, when to sell or exit that investment, or even whether to invest other moneys alongside (which would not receive these tax benefits).

In addition to deferring income taxes, by the time the investment of tax-deferred capital gains in the opportunity zone is sold or the end of 2026, whichever is earlier:

• The amount subject to taxes shrinks by 10% if the investment has been held for at least five years by 2026 (invested by 2021).

• The amount subject to taxes also shrinks to the fair market value of the investment if less than its original value.

For more information on Opportunity Zones, visit: www.oregon4biz.com/Opportunity-Zones

EXECUTIVE SUMMARY 9 PROPERTY PROFILE

Property Profile The Kolin Building can allow a user or investor to acquire a close-in turnkey property. Originally built in 1905, the property was fully seismically upgraded in 2000. The tasteful upgrades to the build-out represent a move in-ready option. Within a stone’s throw of exciting new developments at the Post Office and Greyhound sites, the Kolin Building represents an opportunity to be adjacent to the 5 million+ square feet that will be developed. The property’s location within an Opportunity Zone creates options for a buyer to further improve the property, including the potential addition of another floor. Fully HVAC’d and elevator-served. Long term ownership has remained extremely proactive in regards to maintenance of the property. Ready for immediate occupancy.

Address 322-326 NW 6th Avenue Portland, OR Foundation/Sructure Reinforced masonry

Net Rentable Area 10,000 SF Exterior Walls Reinforced masonry

Leased 53% Structural Steel Frame/Superstructure Zone 3 seismic completed 1997

Number of Floors 2 Entrances and Doors 2

Year Built 1905 with renovations in 2000 Lobby and Common Area Finishes New floor coverings and exposed brick

Site Area 0.11 acres (4,729 square feet) Elevators 1 All building areas meet accessibility Parcel Number R140454 ADA Compliance requirements Historic Registry No

FAR 6:1 with bonus

Zoning CXD

Class B 99 WALK SCORE 98 BIKE SCORE 100 TRANSIT SCORE

12 COLLIERS INTERNATIONAL | PORTLAND THIS MAP WAS PREPARED FOR N.E.1/4 S.W.1/4 SEC.34 T.1N. R.1E. W.M. ASSESSMENT PURPOSE ONLY MULTNOMAH COUNTY 1N 1E 34CA 1" = 100' PORTLAND

SEE MAP 1N 1E 34BD APPROX. 1/16 COR. 60' N.W. (G) GLISAN ST. APPROX. 3' 100' 100' 100' CEN. SEC. 5' 60' 60' 100' 60' 100' 100' 60' 100' 100' W1/2 E1/2 100' 30' 300 5' 5' 200 100' 100' 2100 2000 1600 1500 900 800 7

50' 50' 50'

50' 50' 50'

50' 50'

50' ASSESSED 50' 8 7 8 7 8 700 300 A1 8 7 100 8 50' BY D.O.R. 1600 A1 1500 A1 7 W1/2 8 7

100'

25'

50' 50' 50'

50' 50'

50'

50'

50' 80000 50' 5 6 5 6 6 5 6 5 6 25' 4' 11 1/8" Address 322-326 NW 6th Avenue Portland, OR 48 37 36 25 5 24 BK. 1000 PG. 687 23 3 OLD 0.66' 4

28' N1/2 1400 N1/2 2200 1900 1701 600 28' 400

50'

50' 50' AVE.

50'

50'

50'

150' 50'

50'

150'

AVE. 4 50' 4 3 TOWN 3 4 3 4

AVE.

1300 22'

3 S1/2 S1/2

IN ST. IN ST. 2002-166830 3 4 34'1 3/8"

AVE. 500

ORD. 138348

Tax Roll COUCHS ADD, BLOCK 38, LOT 6 LOFTS VAC. 6-19-74 1800 1700 1200

50'

50' 50'

50' 50'

50'

50'

50'

50' 1 2 1 2 CONDO. 0.66' 1 50' 2 1 2 1 100' 5' 5' 3' 100' 100' 100' 100' 2 99.33' 100' 100' 100' 5.6' 100' TO 2019 ASSESSMENT 100' VAC. 6-19-74 91' 134' ORD. 138348 IN ST. 2000-126356 29.8' 60' N.W. (F) FLANDERS ST. IN ST. 2002-166830 100' IN ST. 2001-024823 30' Improvements $2,340,000 100' 5' 100' 708 100' 100' 100' 100' 100' 95' 34.75' 100' 65' 100' 100' 5' 8 5' 5'

50' 2700 APPROACH

3600 50'

50'

50'

50'

50' 50' 2300 3100 50' 4300 2800 3200 3500 50' 50' 4200

3400 50'

PARTY 8 7 8 7 8 7 8 WALL

75'

7 3700 8 7 8 Land $754,840 0.25' 5 2600 34.75' 65' N1/2

50'

50'

50'

50'

50'

50'

50' 50'

50'

50'

5 6 5 6 5 6 5 BK. 1000 PG. 687

S1/2 35' 47 38 6 4100 5 S1/2 6 5 Real Market $3,094,840 35 26 15 2400 2500 2900 3000 3300 3800

50' 4400

50'

50'

50'

50'

50' 50' 50'

50'

50' 4 3 4 3 50' 4 3 4 ORD. 3590 10-6-1882

16 IN ST. 2002-166830 3 100' 4 IN ST. 2001-024823 3 4

ORD. 138348

VAC. 6-19-74 PROPERTY TAXES 3900 4000 64.06'

50'

50'

50'

50'

50'

50'

50' 50'

50'

50' 1 2 1 2 23.36' 1 2 1 1 IN. ST. 5' 5' 100' 100' 100' 100' 100' 100' 100' 2 100' 1 30' 30' 2 100' 100' 1805-1636

2019 $17,280.94 (7TH) 5' 100' 24.82' 5'

RAIL

60' N.W. (E) EVERETT ST. 60' 100' 5' 100' 5' N89'°57'40"E 190.0' SUR 5' 60' 10' 100' 889 100' 100' 100' 100' 100'100' 2018 $16,772.77 708 889100' 100' 100' N89'°59'30"E 100.00'

6300 4800 4700 AVE.

50' 4500

50' 50' 6200 5500

50' 50' 50'

50'

50'

50'

50'

5800 5400 50' 7 8 7 90000 7 8 7 8 7 8 7 8 5' 5' 2017 $16,075.35 4900

50'

50' 50'

50'

50' 50'

50' 50'

50'

50'

50'

6 5 6 6 5 6 5 6 5 6 5 200.0' SUR 46 39 N00'°00'16"E 100.04' 34 27 100' 17 14 N89'°59'30"E 100.00' 30' 65'

2016 $14,710.65 LIGHT

1ST

5700 5600 5300 4 5000 3RD 4600

50'

50'

50' 50' 50' AVE.

50' 50'

50'

50'

50'

6TH

5TH 3 4 3 50' FACA S00'°00'16"W 200.08' 4 3 3 4 3 4

NORTH 200.0' SUR

4TH 4 65'

5200

SOUTH

2015 $14,324.48 '16"E 100.04' NDOMINIUM 1 5100

BROADWAY

50'

50'

50' 50' 50'

50' 50' 50'

50' CO 50'

50'

2 1 N00'°00 2 1 2 2 1 2 1 S89'°59'30"W 200.00' 1 10' 100' 100' 100' 100' 30' 65' 100' 100'

100' 100' 5' 5' 100' 100' 5' 5' S89'°57'40"W 190.0' SUR 5'

N.W.

60' N.W. (D) DAVIS ST. 60' PROPERTY PROFILE 100' 135' 5' 100' 100' 5' 5' 100' 5'

100' 100' 100' 100' 100' 100' 6400 7300 7400 7700 7800 8200 8300 8600 8700

50' 50' 50'

50'

50' 50'

50' 6800 50'

50'

50' 50'

N.W. 8 7 8 7 8 COUCH'S7 8 7 8 7

TRI-MET 6500 8800

50' 50' 50'

50'

50' 50'

50'

50'

50' 5 6 5 6 5 6 5 6 5 50' 6 50' 45 100' 40 33 28 18 13 10' 40' 60'

4 6900 7200 7500 7600 30' 3 4 3 8100 2ND 30' 8400 8500 8900

50'

50' 50' 50' 50'

50'

50'

50'

50'

50'

50' 6600 3 4 3 4 3 4 3 50'

20' 4 100' 3 7900 20' 2 1 1 W1/2 E1/2 7000 7100 8000 1

50' 50' 50'

50'

50' 50'

50'

50'

50'

50' 2 1 2 1 2 2 1 2 50' 10' 40' 60' 1 100' W1/2 E1/2 100' 100' 100'

100' 1N 34DB1E MAP SEE 100' 100' 5' 5' 100' 100' 5' 5' 100'

60'

60' 11901 N.W. (C) COUCH ST. 100' 100' 100' 100' 100' 100' SEE MAP 1N 34CB1E MAP SEE 35' 3.15' 65' 100' 100' 100' 100' 95' 95' ADD 85' 10' 95' 95' 7 5' 5' 5' 5' 11800 8 11700 100.01' SUR 10600 5' 10500 9600 9500

50' 50' 7

50'

50' 50' 9000

11100 50' 50'

50' 50' 50' 11200 N.W. 50' 7 11600 8 7 8 7 65' 8 11900 7 8 7 8

10' 100' N1/2 9700 10'

27' 12000 5 10700 6 5 50' 6 9400 6

100.04' SUR 6 N1/2 S1/2

100.04' SUR 9800

50' 50' 50'

50' 50' 50' 50'

50' 50' 9100

40' 5 6 5 9900 40'

23' 25' 41 23' 100.02' SUR 6 95' 5 105' 6 44 32 29 6 85' 10' 19 5 12 100' 4 N.W. 3 4

50'

30'

10400 22'

22' 12100 30' 11500 10800 9200

N.W. N.W.

11300 11000 N.W.

50'

50'

50' 50'

50' 50'

50' 50'

50'

50' 4.9' 50' 3 4 3 4 5' 3

28'

28'

20' 12200 4 20' 3 100' 10200 4 70' 3 4 35.35' 60' 28.95' 60' 95'

11400 10900 25' 2 1 2 1 9300 25'

30' 30'

30' 30' 30' 70' 95' 2

1 27.44' 100' 60' 2 100' 100' 1 60' 2 100' 100' 1 10100 75.13'

50'

50'

50'

50' 50'

50'

10100 A1 RES. 15274 7-22-25

20'

25'

20' 20' 1 2 100' 100' 100' 2 100' 2 1 100' 100' 100' APPROX. RES. 19824 9-12-30 1/16 COR. N.W. (B) BURNSIDE ST. 889 APPROX. 708 1/16 COR.

S.W. 5TH S.W.

4TH

AVE. S.W. 6TH AVE. AVE.

3RD

AVE. S.W. 2ND

S.W.

AVE.

SEE MAP 1N 1E 34CD SEE MAP 1N 1E 34DC 1N 1E 34CA PORTLAND

10/27/2014 Floor Plan - 1st Floor

14 COLLIERS INTERNATIONAL | PORTLAND Floor Plan - 2nd Floor

PROPERTY PROFILE 15 Tenant Summary

Hamilton & Kashoro Group Hamilton & Kashoro Group is a Portland-based Website hamiltonkashoro.com Public/Private Private development firm that specializes in bringing Rentable Square 5,000 RSF multifamily development projects to the greater Feet Northwest. They are a values-driven real estate % of Property 50% Lease Expiration 10/31/24 developer providing resources, practices, and Lease Type NNN stewardship for their partners.

BASE RENT Annual Monthly Rate NNN 11/1/19-10/31/20 $69,999.96 $5,833.33 $14.00 11/1/20-10/31/21 $72,099.96 $6,008.33 $14.42 11/1/21-10/31/22 $74,262.96 $6,188.58 $14.85 11/1/22-10/31/23 $76,490.88 $6,374.24 $15.30 11/1/23-10/31/24 $78,785.64 $6,565.47 $15.76

Option to Renew Tenant has the option to renew for one, 63-month period by providing 180 days prior notice. Base rent for renewal term will reflect a 3% annual increase from base rent of the premises as of the end of the then-expiring term for the first 15 months of the renewal.

Security Deposit $5,250.00

Pro Rata Share ______

Services and Utilities ______

16 COLLIERS INTERNATIONAL | PORTLAND PROPERTY PROFILE 17 COMPARABLES

Sale Comparables

YEAR BUILT/ PROJECT NAME ADDRESS SALE DATE RSF LEASED SALE PRICE $/SF COMMENTS RENOVATED

KOLIN BUILDING 322-326 NW 6th - 10,000 100% - - 1905/2000

1 TRIVET BUILDING 122 SW 3rd 12/24/2019 6,875 0% $1,250,000 $181.82 1902

2 5 NW 5TH 5 NW 5th 5/17/2019 12,000 51.3% $2,400,000 $200.00 1910/2014

3 DEHEN BUILDING 404 NW 10th 5/4/2020 10,000 100% $3,700,000 $370.00 1910 Cap rate: 6.5%

GERMAN-AMERICAN 4 712-714 SW 11th 12/31/2019 6,300 86.2% $1,640,000 $260.32 1926 Cap rate: 5.3% SOCIETY BUILDING

CHARLES BERG 611-615 SW 5 8/29/2019 19,424 100% $4,550,000 $234.25 1902 BUILDING Broadway

6 SMITH BLOCK 105-117 SW Naito 7/31/2019 31,111 17% $7,546,150 $242.56 1872

PUBLIC WILL 7 733 SW Oak 10/03/2019 17,655 0% $6,400,000 $362.50 1913/2018 BUILDING

8 1530 SW TAYLOR 1530 SW Taylor 9/13/2019 15,426 0% $4,750,000 $307.92 1953

1312-1320 SW 1312-1320 SW 9 11/4/2019 46,465 100% $7,575,000 $163.03 1907 WASHINGTON Washington

20 COLLIERS INTERNATIONAL | PORTLAND KOLIN BLDG 3

2

7 9 1

6

8 4 5

MARKET OVERVIEW 21 MARKET OVERVIEW

CENTRAL BUSINESS DISTRICT

CENTRAL EASTSIDE PEARL DISTRICT

CENTRAL BUSINESS DISTRICT

OLD TOWN / CHINA TOWN

LLOYD DISTRICT MARKET OVERVIEW - PORTLAND MSA

174 miles to IN BEST PLACES Seattle th FOR BUSINESS & CAREERS IN THE UNITED STATES 5 FORBES, 2019 Portland has been named in the Top 5 of this Forbes list for the past 5 years!

tech industry education 134,000+ tech employees, 23rd 40.3% of residents have a in tech employment in the USA Bachelor’s degree or greater

in-migration unemployment 633 miles to Portland is the #2 moving Unemployment rate is 3.8% in San Francisco destination in the USA the Portland MSA

bike-friendly public transit Highest % of bicycle commuters 530+ square miles are served by of any US city (6.3%) and 297+ various modes of public miles of bike lanes throughout transportation the city 963 miles to Los Angeles

best airport commute #1 Airport in the nation, ranked The average commute time is by Travel + Leisure 2013-2019 26.1 minutes, below the national average

24 COLLIERS INTERNATIONAL | PORTLAND EMPLOYMENT 3.4% ■ Portland ranked 30th for overall growth and compares Transportation favorably to other top metropolitan areas in The & Utilities Brookings Institution’s January 2018 Metro Monitor 3.5% 2.1% composite index, which ranks the 100 largest MSAs Other Services Information across job growth, unemployment, gross product 15.4% 4.7% Professional & range and home prices. Business Services Wholesale Trade ■ 1.8% employment growth over the last year ■ 5th in employment growth (16%) in the USA between 6% Financial 2013 - 2017 ■ Portland had a 21% increase of average household 15% 6% PORTLAND Education & income between 2010-2017 Construction EMPLOYMENT Health Services BY INDUSTRY 10% PORTLAND’S TOP EMPLOYERS Retail

Company # Employees 12.5% Government Intel 20,000 10.4% Leisure & Hospitality Providence Health 18,266 10.7% Manufacturing Oregon Health & Science University 16,658 Kaiser Permanente 12,400 Nike 12,000 Legacy Health 11,250 1400 City of Portland 9,710 PORTLAND JOB GROWTH Fred Meyer 7,741 1300 1,216,610 jobs Portland Public Schools 7,600 Beaverton School District 5,457 1200 Multnomah County 5,401 1100 Vancouver Public Schools 4,686 PeaceHealth 4,403 1000 U.S. Bank 4,031 in thousands of jobs Portland Community College 3,776 900 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Source: Portland Business Journal, Book of Lists 2019 Source: BLS, Economy at a Glance, Portland-Vancouver-Hillsboro, OR-WA

MARKET OVERVIEW 25 SOFTWARE The city’s burgeoning software and technology cluster represents more than 2,000 firms with an average salary of $116,000 and projected growth of 25% in the next decade. Long known as an open source hub, Portland is fast becoming known for mobile, cloud-based and software-as-a-service applications. AWS Elemental, Connective DX and the trade group SEMPDX are raising Portland’s profile as a digital media hub. Most area software and technology firms are homegrown, reflecting the city’s well-recognized startup and entrepreneurial culture.

ADVANCED MANUFACTURING Portland’s manufacturers export products ranging from scrap metal to silicon wafers throughout the world and recycle more than any other industry. Semiconductor, computer electronics and transportation equipment manufacturing continue to grow, and total manufacturing accounts for approximately 26% of Portland’s Gross Metropolitan Product. Each $1 worth of manufactured goods creates another $1.43 in other sectors, demonstrating a significant multiplier effect.

CLEAN TECHNOLOGY A beacon for clean technology firms, Portland is a major headquarters for wind and solar manufacturers (Vestas, Solaicx), as well as market leaders in green building and development and startups in energy storage. The city’s competitive advantages, including a deep talent pool, receptive local market for new technologies and service and a legacy manufacturing base, combine to focus on energy management, clean energy and green development and infrastructure. Oregon was ranked fourth behind California, Massachusetts and Vermont in the 2017 State Clean Energy Leadership Index Report by Clean Edge, which evaluates all 50 states on activity in clean energy technology, policy and capital.

ATHLETIC AND OUTDOOR With Nike, Columbia Sportswear and Adidas, Portland is a recognized hub for the athletic and outdoor industry and is also home to smaller firms including Keen Footwear, Icebreaker and Nutcase Helmets. Portland boasts the greatest number of footwear patents in the country as this industry continues to innovate and attract global talent.

26 COLLIERS INTERNATIONAL | PORTLAND DEMOGRAPHICS According to the most recent U.S. Census, population in the Portland- Vancouver-Hillsboro MSA is over 2.7 million residents, 24% of which live within the Portland city limits. With a median age of 37.6, Portland is slightly younger than the nation as a whole (38.2). Population growth of 7.27% is projected from 2020-2025 within a mile of the Kolin Building, after an increase of 15.5% from 2000-2010. Average household income in 2020 ranged from $57,640 to $82,840 within a five mile radius of the asset. Approximately 43% of residents within Portland city limits have a bachelor’s degree or higher, as compared to 39.2% in Multnomah County.

1 MILE 3 MILES 5 MILES

Median Age 40 38.90 39.10

Projected Population Growth 7.27% 5.24% 4.38% (2020-2025)

2020 Median HH Income $57,640 $79,709 $82,840

2020 Total Population 42,867 198,586 439,289

Median Year Built 1999 1958 1956

Median Home Value $590,726 $655,063 $543,864

MARKET OVERVIEW 27 Confidentiality & Disclaimer Statement

This Offering Memorandum contains select information pertaining to the business and affairs of the Property at 322-326 NW 6th Avenue, Portland, Oregon. It has been prepared by Colliers International. 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 Colliers International. The material is based in part upon information supplied by the Seller and in part upon financial information obtained by Colliers International 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 or 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 from Colliers, 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 Colliers International expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers to purchase the Property and toterminate discussions with any person or entity reviewing this Offering Memorandum or making an offer to purchase the Property unless and until a written agree- ment 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 Colliers International 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.

28 COLLIERS INTERNATIONAL | PORTLAND Offering Procedure

The offering of the Kolin Building is being conducted exclusively by Colliers International. All questions and inquiries should be directed to the Colliers representatives listed in this memorandum.

Colliers will be available to assist prospective investors with their review of the offering. On-site inspections of the property and tours of the market area can be arranged directly with Colliers.

Offers should include, at a minimum, the following:

• The purchase price and closing date; • The source of capital, both equity and debt, for the transaction; • The amount of earnest money deposit; • A detailed schedule of the due diligence and requisite approval process; and • A description of assumptions utilized for the offer.

Please address your offers to the brokers listed below:

DAREN DUKE MIKE THOMAS IRFAN TAHIR +1 503 499 0056 +1 503 499 0059 +1 503 757 1960 [email protected] [email protected]

COLLIERS INTERNATIONAL 851 SW Sixth Avenue, Suite 1200 Portland, OR 97204 503 223 3123 www.colliers.com/portland

KOLIN BUILDING 29 Colliers International | Portland

DAREN DUKE | MIKE THOMAS | IRFAN TAHIR