ALPHARET TA, GEORGIA

A Joint Venture between North American Properties, LTD and Sarofim Realty Advisors (collectively the “Sponsor” or “Partnership”)
has engaged Eastdil Secured as its exclusive advisor to arrange a $134,000,000 first mortgage construction loan for Avalon (the
“Property”), a proposed 804,000 square foot, mixed-use, grocery-anchored lifestyle center located in Alpharetta, GA within
the Atlanta Metro Area. The Property is strategically situated along GA 400 at Old Milton Parkway, at the epicenter
of North Fulton County, whose households are among the wealthiest in the US. The Property will set a new
standard of excellence for shopping, dining, living and working in a truly iconic and innovative
environment by incorporating five-star hospitality for anyone visiting or living in Avalon.
The Sponsor
This request offers lenders the opportunity to finance the is seeking proposals
development of an institutional quality, best-in-class lifestyle for a three to five year, floating
center to a strong institutional Sponsor with proven rate, non-recourse first mortgage loan of
development and management experience. $134,000,000 (the “Loan”). The requested Loan
represents approximately 65% of the estimated construction
costs of $XXX,XXX,XXX. The Sponsor is building the Property to a
X.X% stabilized return-on cost and will have a total of nearly $XX,XXX,XXX
invested in the Project. Further, the Loan represents a conservative Loan-per-
square-foot of $166 and a strong stabilized debt yield of 14%.

LOAN COLLATERAL SUMMARY

Component Phase I Phase II Total
Proposed Buildings:
Retail SF 362,760 75,600 438,360
Office SF 83,354 33,400 116,754
Multifamily (250 Units) SF 249,305 - 249,305
Total Building SF 695,419 109,000 804,419
Land:
Outparcel Acreage 7.3 - 7.3
Phase I Acreage 39.1 - 39.1
Phase II Acreage* - 17.7 17.7
Total Land Acreage 46.4 17.7 64.1

AVALON will be comprised of 10 buildings totaling approximately 440,000 square feet of upscale dining and shopping, 117,000 square feet of Class “
will include five pad ready outparcels, hotel air-rights, a separate hotel pad, and an office pad. The Property will be oriented around an energetic and inv
ground level retail. The office is currently 34% leased to one tenant, while the retail is 75% leased (including LOIs) to a highly attractive group of 46 tenan
NRA through XXXX). The Sponsor is also currently in advanced discussions with approximately 35 of some the world’s most sought after premium retailer
 FINANCING & PROPERTY HIGHLIGHTS:
• INSTITUTIONAL QUALITY, CLASS “A” MIXED-USE DEVELOPMENT: Developed to unrivaled high quality, institutional standards,
Avalon will represent a highly desirable, class “A” mixed-use community. The Property will boast exceptional architecture design, layout, visibility,
access, and surrounding demographics. The Property’s prominent mix of tenants will occupy upscale dining and shopping, Class “A” office space, and luxury rental
homes to provide the perfect mix for the dynamic live, work, play center.

• EXPERIENCED, INSTITUTIONAL SPONSORSHIP: Members of the Partnership include well-capitalized institutional real estate investors and operators with
unparalleled experience in developing, owning, leasing and operating retail, multifamily and office assets. Over the life of the company, North American Properties has
acquired or developed more than 12,000 residential units, 19 million square feet of retail space, in excess of 1 million square feet of office space, and 3 million square feet
of mixed-use properties. Sarofim Realty Advisors provides proven expertise in all facets of real estate including retail, office, industrial, and multifamily. The Partnership
is highly motivated, well-capitalized and has the experience necessary to successfully develop and manage the Property to its maximum potential.

• STRONG LEASING MOMENTUM: With the Property’s intrinsic attractiveness due to location and accessibility, coupled with the unique vision for an exciting new
mixed-use experience, the Sponsor currently has leased 74% of the retail space (including LOIs), including a 45,000 SF Whole Foods, 57,000 SF Regal Cinemas, and is
currently in advanced discussions with many other premium retailers.

• EXCEPTIONAL DEMOGRAPHICS: Avalon will sit in one of the most affluent counties in the country, with a 7-mile radius average household income in excess of
$124,000, an astounding 72% higher than the national average of approximately $72,000. This trade area is densely populated and highly educated as well, amassing a
population of approximately 295,000 residents with a median age of 38, and with 57% of the residents possessing a bachelor’s degree or better, compared to 28% nationally.

• COMPELLING MARKET FUNDAMENTALS: The Roswell/Alpharetta area of Atlanta is one of the most affluent in the metropolitan region and is one of the most
desired submarkets for both commercial and residential real estate. A superior healthcare system that provides for outstanding employee wellness, proximity the
amenities and attractions of big-city Atlanta, coupled with the charm and advantage of a hometown environment provide residents of Alpharetta with this uniquely high
quality of life. These factors have contributed to the submarket having one of the highest recorded average asking rental rates for retail, being one of the largest Class “A”
office submarkets from both a total building and total square footage standpoint, and being one of the tightest and most underserved apartment markets as evidenced
by having one of the lowest vacancy rates and highest average rental rates in the region.

• EXCELLENT VISIBILITY AND REGIONAL ACCESSABILITY: Located in the northwest corner of the intersection of GA 400 and Old Milton Parkway (Exit 10), the
Property is strategically situated along two major thoroughfares providing for seamless visibility and accessibility for commuters, shoppers, diners, and residents. GA 400
is traveled by 113,780 vehicles per day, while Old Milton Parkway accounts for 35,780 vehicles per day. Furthermore, the Property’s proximate location to Alpharetta’s 15
million square foot Class “A” office market provides for a deep workforce with significant spending power.

“A” office space, and 250 luxury rental homes, to be completed in two phases. Additional collateral Construction Start: 2/2013
viting Boulevard and Plaza, with the buildings consisting of office space and residential units over Phase I opening: 7/2014
nts idcluding Whole Foods (S&P: BBB-, 13% of NRA through XXXX) and Regal Cinemas (16% of
rs who are interested in leasing space at Avalon. Below is the construction timeline for the project: Phase II opening: 1/2016
 RANDY EVANS Nick Seidenberg Ken Ziebelman
Managing Director Managing Director Managing Director
404 487 1095 202 688 4040 212 315 7325
[email protected] [email protected] [email protected]

Chris Campbell CLINT FREASE

Senior Vice President Vice President
404 487 1104d 202 688 4051
[email protected] [email protected]

daniel allman Michael Zelin

ASSOCIATE Vice President
404 487 1087 202 688 4025
[email protected] [email protected]

ATLANTA WASHINGTON, DC NEW YORK

3414 Peachtree Street, Suite 1450 1730 Pennsylvania Avenue, NW, Suite 900 40 west 57th street, 22nd floOr
Atlanta, Ga 30326 Washington, D.C. 20006 new york, ny 10019
TEL 404 487 1100 FAX 404 487 1107 TEL 202 688 4000 FAX 202 688 4010 tel 212 315 7200 fax 212 315 3602

Disclaimer: No warranty or representation, expressed or implied, is made as to the accuracy of any of the information, projections, or conclusions (if any) contained herein, and the same
is submitted subject to errors, omissions, withdrawal of opportunity or other conditions, without notice. Eastdil Secured assumes no responsibility, and shall have no liability or obliga-
tion, arising out of any party’s use of the information contained herein or any decision made, or action taken, that might have been based thereon. All such decisions and actions are to be
taken in a party’s sole judgment and discretion.

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