CHAMPION PARTNERS, INC.
ST. PETERSBURG, FLORIDA

ABOUT CHAMPION PARTNERS Champion Partners is a privately-owned entrepreneurial commercial real estate investment and development firm with a focused opportunistic and value-creation strategy, primarily within the office, industrial and land sectors. Pairing its thorough knowledge of the real estate industry with a unique understanding of the overall capital markets, Champion continues to create significant value for the firm and its clients. Champion is owned and managed by Steve Modory and Jeff Swope, who originally founded Champion in 1991. They have nearly 70 years of combined real estate investment and development experience, coupled with significant industry and community leadership and involvement. Since its inception over 25 years ago, Champion has developed an excellent reputation in the commercial real estate industry for being able to implement successful investment strategies. The firm has consistently demonstrated its ability to adapt investment strategies to monetize asset values by either refinancing or selling as certain cycles and trends mature, while simultaneously shifting into new and emerging opportunities. Based on current market conditions and looking forward the next several years, Champion believes that superior risk-adjusted investment returns will continue for commercial real estate having an opportunistic or value-add profile, especially within the southwestern United States, with the major Texas markets leading the way as they have the past five years. These target markets continue to enjoy resilient business climates, vastly above-market job creation relative to other regions, and favorable overall demographics. Current dynamics in these markets provide disciplined sponsors/operators such as Champion the opportunity to continue investing in existing high-quality real estate assets and also selectively pursuing new development opportunities. Champion's cumulative investment track record is outstanding, even through the dramatic down-cycle from 2008 through 2011. Champion's transaction history and expertise covers an asset base that includes 74 commercial real estate investments and developments having an aggregate value of $2.14 billion. The firm's principal-based investments have generated an approximate 30% internal rate of return on total equity invested, and an equity multiple of 1.8x. ABOUT CHAMPION PARTNERS Champion Partners is a privately-owned entrepreneurial commercial real estate investment and development firm with a focused opportunistic and value-creation strategy, primarily within the office, industrial and land sectors. Pairing its thorough knowledge of the real estate industry with a unique understanding of the overall capital markets, Champion continues to create significant value for the firm and its clients. Champion is owned and managed by Steve Modory and Jeff Swope, who originally founded Champion in 1991. They have nearly 70 years of combined real estate investment and development experience, coupled with significant industry and community leadership and involvement. Since its inception over 25 years ago, Champion has developed an excellent reputation in the commercial real estate industry for being able to implement successful investment strategies. The firm has consistently demonstrated its ability to adapt investment strategies to monetize asset values by either refinancing or selling as certain cycles and trends mature, while simultaneously shifting into new and emerging opportunities. Based on current market conditions and looking forward the next several years, Champion believes that superior risk-adjusted investment returns will continue for commercial real estate having an opportunistic or value-add profile, especially within the southwestern United States, with the major Texas markets leading the way as they have the past five years. These target markets continue to enjoy resilient business climates, vastly above-market job creation relative to other regions, and favorable overall demographics. Current dynamics in these markets provide disciplined sponsors/operators such as Champion the opportunity to continue investing in existing high-quality real estate assets and also selectively pursuing new development opportunities. Champion's cumulative investment track record is outstanding, even through the dramatic down-cycle from 2008 through 2011. Champion's transaction history and expertise covers an asset base that includes 74 commercial real estate investments and developments having an aggregate value of $2.14 billion. The firm's principal-based investments have generated an approximate 30% internal rate of return on total equity invested, and an equity multiple of 1.8x.