Investment Sales with NAI Farbman

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1 Investment Sales with NAI Farbman Thank you for taking the time to learn about the Investment Sales Division of NAI Farbman. NAI Farbman has enjoyed a long standing reputation in disposing of various types of real estate deals for a variety of private and public owners, lenders, bond insurers / funds and CMBS lenders including: Bank of America (LaSalle), Capmark (GMAC), GE Capital, Ambac, ING, Morgan Stanley, Midland Loan Services, Flagstar, Orix, Forest City, Acadia, Charter One, IDS/ American Express, CW Capital, Centerline, and others. We would welcome the opportunity to expand that relationship to your organization. For your review, we ve enclosed the following: 1. List Of References 2. Selected List Of From NAI Farbman 3. Resumes Of Key Investment Sales Team Members 4. Map Of Our NAI Global Offices In The United States Founded over 30 years ago, NAI Farbman handles traditional property management and brokerage work. We do an extensive amount of turnaround management, disposition and leasing. Please also view us as a source on a nationwide basis for sales comparables, market data and preparing analytical evaluation (Broker Opinions of Value) on deals. The following will provide more detailed information on our Investment Sales Division.

2 NAI Farbman has a long track record in office, industrial, retail, and multi-housing disposition work nationwide. With 18 million square feet of property under management, and millions of dollars in successful disposition assignments to our credit, we are confident that we can be of assistance to you. NAI Farbman s credentials are backed by our nationwide (and worldwide) network of NAI Global offices. With over 375 offices worldwide (in 55 countries) and over 8,000 professionals, we are confident that we can assist you wherever your real estate needs may be. NAI Global annually completes over $45 billion dollars worth of transactions and currently has over 250 million square feet of property under management. NAI Farbman teams up as necessary on projects nationwide with our NAI partners to provide the highest quality level of service. Some of the services that we can offer you (and credentials that we have) are as follows: Our disposition team is equipped to mobilize quickly to market your properties for sale and obtain optimum values for you through our high quality offering memorandums, aggressive contacting of prospects and detailed follow up to close deals. We often act as receivers on various assignments and are very familiar with the requirements of the courts. We are prepared to assist in proving cases of waste (both physical and financial, as needed). We maintain an outstanding sale and lease comparables database and other market statistics. We can move quickly for you on getting this data assembled where the need arises for acquisitions, due diligence or other purposes. We are highly proficient in Argus modeling of investment deals and can provide detailed Broker Opinions of Value for you as needed. We maintain a strong, up-to-date, nationwide database of buyers that is constantly being updated to track new and emerging buyers including (IRC Section 1031 buyers through title companies and other sources).

3 NAI Farbman has established a nationwide track record in disposition work. We have successfully handled disposition assignments in various parts of the country in all property types including multi family, net leased transactions, office, retail, flex space/industrial, senior housing and hotels. By partnering up with our NAI partners in various cities as needed, we make sure that we have strong local market knowledge to assist in a successful disposition. We have significant experience modeling deals in Argus and other programs. Our group maintains an extensive, nationwide database of sales comparables. We track buyers to stay on top of current trends in acquisitions and maintain a detailed database of buyers that is constantly being updated. We hope these brief introductory materials will be of assistance in telling you a little about our Investment Sales Division of NAI Farbman. We look forward to being of service to you. Thank you. Sincerely, NAI FARBMAN William A. Bubniak Senior Vice President Tele: (248) Fax: (248) bubniak@farbman.com Todd Szymczak Multi-Housing Investments Tele: (248) Fax: (248) szymczak@farbman.com Paul Debono Assistant Vice President Tele: (248) Fax: (248) debono@farbman.com Susan Ehlke Sales Associate Tele: (248) Fax: (248) ehlke@farbman.com

4 Reference List Selected NAI / Farbman References GE Capital Building on the power of our network Northwestern Hwy. 4th Floor Southfield, Michigan William A. Bubniak Senior Vice President Paul E. DeBono Assistant Vice President Todd Szymczak Multi-Housing Investments Susan Ehlke Investment Sales Associate

5 Reference List Sample List of Clients, NAI Farbman Financial Advisors Building on the power of our network Northwestern Hwy. 4th Floor Southfield, Michigan William A. Bubniak Senior Vice President Paul E. DeBono Assistant Vice President Todd Szymczak Multi-Housing Investments Susan Ehlke Investment Sales Associate

6 A Partial List of Investment Sales Clients We are proud to have the following organizations as a partial list of NAI Farbman disposition clients. Please let us know if you would desire additional references and we would be pleased to provide them. GE Capital Financial Advisors

7 Office & Medical Office Property Sales We introduced a first time buyer to Detroit and Michigan with this property from New York after many local buyers shied away from this deal quickly due to a short-term anchor tenant lease. The buyer closed this deal and has since successfully negotiated a lease extension with the anchor and closed a new loan. This was our third successful sale for GE Capital and first of several to this buyer who continue to be active in Michigan and the Midwest today. CADILLAC TOWER Detroit, Michigan High Rise Office Building 339,274 Square Feet Client GE Capital Real Estate We represented the buyer who was looking to get into the competitive Chicago market but wanted to find a deal where they could use their management and leasing expertise to improve a building. 216 W. Jackson is well located near the Sears Tower and we were able to assist the buyer in acquiring a deal where they can improve occupancy and reduce expenses on a project that enjoys an excellent location. 216 W. JACKSON OFFICE BUILDING Chicago, Illinois Mid-Rise Office Building 177,000 Square Feet Client Buyer Exclusive Representation

8 Office & Medical Office Property Sales (continued) When Aetna (Allegis) did not know of a solid broker in Columbus, they called on us because we had a strong track record with them in Michigan. We quickly talked to appraisers and assessors and got up to speed on who was buying deals in Columbus. We worked with our local NAI office in Columbus. Our first sale in Columbus was a success and we closed with the first buyers we suggested to the seller to go with. SPECTRUM COMMERCE CENTER Dublin (Columbus), Ohio Office/Flex Space 134,253 Square Feet Client Aetna Comerica Bank had foreclosed on this poorly occupied property and wanted to dispose of it with certainty and in a prompt fashion. Having handled other successful deals for them in Michigan, they knew we would not let them down in Florida. We interviewed several buyers to insure that we had a qualified closer, spoke with his financial references, and got the deal closed in 30 days. CORAL SPRINGS TRADE CENTER Coral Springs, Florida Office Building 115,000 Square Feet Client Comerica Bank

9 Industrial & Flex Property Sales We introduced a first time buyer to Detroit and Michigan with this property who teamed with a local Management Partner, The Sterling Group, to take on this 1.2 Million Square Foot Industrial Center. The buyer separated themselves from other buyers by coming in with a quick due diligence, 15 days, and a quick close, 15 days. Moving this fast puts a lot of pressure on the Seller to perform and we were ready. We quickly put together all the due diligence materials, setting up every inspection and obtaining every Estoppel within that short time frame. This was our second successful sale for CAPMARK (formerly GMAC Commercial Mortgage). GATEWAY INDUSTRIAL CENTER Detroit, Michigan Multi-Tenant Industrial Park 1.2 Million Square Feet Client CAPMARK (formerly GMAC Commercial Mortgage) The Discovery Center was a well-built property that was foreclosed on by a major lender. The project was being sold in an interest rate climate where the rates were high. We found a well-qualified, local buyer who put a substantial amount down, and negotiated a short-term loan (1 year) to get the deal closed but did not require the seller to wait too long for its total proceeds. THE DISCOVERY CENTER Farmington Hills, Michigan 3 Flex/Industrial Building Portfolio 164,100 Square Feet Client Chase

10 Industrial & Flex Property Sales (continued) In cooperation with our Cleveland partner NAI Daus, we assisted the buyer in identifying this deal with good upside. Selling properties in the Midwest can be challenging given that some investors view it as a difficult market. It is even tougher to sell deals in smaller Midwestern towns such as Akron. We have tremendous experience and a long track record in bringing out-of-town investment to the Midwest as we know the strengths of the area well. We were able to convince an institutional buyer with a local partner to look at the tremendous opportunity in Akron. The local partner has strong management and leasing expertise in the area and brought those talents to the deal to improve the performance of this large industrial complex. 9 BUILDING INDUSTRIAL PORTFOLIO Canton (Akron), Ohio Industrial Warehouse 1,800,000 Square Feet FAIRLANE COMMERCE PARK Dearborn, Michigan Multi-Tenant Flex Space Portfolio 190,000 Square Feet Client Exclusive Buyer Representation With their new relationship with The Sterling Group and taste for better returns in the Midwest, they went on to their second acquisition in Michigan with another deal with CAPMARK. The success and ease of the Gateway deal opened up the door for a quick marketing effort and another great buyer selection with Hager Pacific. Although the major tenant was Ford Motor Company, we were able to find several buyers that were willing to look past the poor automotive headlines to truly evaluate the tenant and site to offer strong values. Again, Hager Pacific offered similar due diligence and closing performance to differentiate themselves from several other suitors on a highly desirable offering. With over ten offers, it was our knowledge and comfort of their historical performance that won them this deal. Client CAPMARK (formerly GMAC Commercial Mortgage)

11 Multi-Housing & Hospitality Property Sales By tracking various investor trends in acquisitions through our office and NAI Global, we were aware Equity Residential was desirous of expanding in South Florida very aggressively. Although it was a small deal for them, we persuaded them that this would be a strong acquisition to compliment other deals they were looking at in the area. This helped them build up a large portfolio in the area quickly. VILLAGE GREEN APARTMENTS Palm Beach, Florida 151 Units, Apartments Client Camden Properties When PNC Bank wanted help in selling a distressed hotel and resort, they called on their friends in Michigan to dispose of it in a soft Pocono Mountains market. We had enjoyed a strong relationship with PNC on the lending side and they knew they could count on us for the disposition of this project. CHATEAU AT CAMELBACK Tannersville, Pennsylvania 152 Room Hotel/Resort Client PNC Bank

12 Multi-Housing & Hospitality Property Sales (continued) We represented Centerline Capital Group to sell this large deal in a tough neighborhood of Northwest Detroit. Through a wide spread marketing outreach, we secured an international investor to purchase the asset. The result was a price substantially higher than offers the seller had received on a potential note sale. FRENCH QUARTER APARTMENTS Detroit, Michigan 476 Units, Multi-Family Portfolio Client Centerline Capital Group NAI Farbman acted as Court Appointed receivers to protect the asset for Capmark Financial Group, putting a multi-family management expert in place to stabilize the asset. Working together to make strategic capital investments, occupancy was improved from approximately 70% to 95% at the time of sale. NAI Farbman Investment Sales was able to bring a uniquely qualified group to the deal that was able to close the deal amidst the challenging credit markets and negotiate around the concerns of the small town market and multiple site-specific challenges. MULBERRY LANE & ROBIN OAKS Midland, Michigan 396 Units, Apartment Portfolio Client Capmark

13 Retail Sales We introduced a California based buyer, Capstone Advisors, to its first enclosed mall purchase. Working with our NAI Partners in Indiana, the buyer we found had an aggressive mindset and closed very quickly so they could get in place promptly to move this turnaround opportunity forward. This was our second enclosed mall sale for ING. CONCORD MALL Elkhart, Indiana 600,000 sf Client ING Real Estate WESTSHORE MALL Holland, Michigan 400,000 sf Westshore Mall in Holland, Michigan needed a facelift and the Seller preferred to have a Buyer take on the task of doing it. While the client s goal was to sell it quickly, we were faced with a poorly occupied center and one missing anchor tenant. While trying to sell the project, we simultaneously sought out prospective tenants and then passed on those possible prospects to the buyer to help consummate the deal. Client GE CAPITAL

14 Retail Sales (continued) Randall Park Mall in Canton, Ohio was a tired center that had recently lost an anchor tenant. We successfully reduced expenses at the site while keeping occupancy at the highest possible levels during the disposition effort. We produced several leasing letters of intent to help assist in successfully consummating a sale to an All Cash Buyer. RANDALL PARK MALL North Randall (Cleveland), Ohio 1,473,144 sf, Regional Mall Client Natixis East Bay in Largo, Florida was a tired center that needed rehabilitation. While the client s goal was to sell it quickly, we were faced with a poorly occupied center and a missing anchor tenant. While trying to sell the project, we simultaneously sought out proposed anchor tenants and then passed on those possible prospects to the buyer to help consummate the deal. EAST BAY PLAZA Largo, Florida 85,000 sf Client American General