Disposition Services. Redefine your multi-market disposition strategy.

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1 Disposition Services Redefine your multi-market disposition strategy.

2 Disposition Services Team Donna Kolius, CCIM Executive Vice President Pierce Owens, CCIM Senior Vice President Kaylie Walker Associate Chelle Smith Brokerage Assistant

3 your multi-market disposition strategy. Sell operating and non-core assets. Increase your bottom line. Return value to core business. Real Estate Portfolios SOLD Total Assets SOLD serving corporations, financial institutions, real estate investment trusts, insurance companies and private investors. in Aggregate Sales Every day, we maximize value and create new opportunities for our clients through net leased sales, sale-leasebacks and disposition of non-core commercial properties nationwide.

4 Successful Results Driven by for Clients Walmart $664.9M 230 Assets National Insurance Company $194M Office and Industrial Portfolio 42 Assets National Insurance Company $180M 206 Assets $80M Business Park Portfolio 32 Assets $56.8M $55.3M $55M $55M Sale-Leaseback Portfolio 16 Assets 25 Assets 128 Assets 34 Assets National Insurance Company National Insurance Company $23M $23M Parking Portfolio Industrial Portfolio 12 Assets Office Portfolio 8 Assets Through JLL s Disposition Services, our clients have access to the most powerful resources dedicated to their disposition projects. $22.7M $19M Industrial Portfolio 3 Assets 31 Assets $11M $11M Industrial Portfolio Storage Portfolio 13 Assets 4 Assets

5 Selecting JLL s Disposition Services to lead your team ensures that the stage has been set to successfully negotiate the most beneficial transaction for you, our client. Listed below are examples of disposition projects we have successfully completed on behalf of the corporations, financial institutions and investors we have served. $75M 74 Assets $61M $59M Industrial Portfolio 28 Assets 181 Assets 193 Assets $63M STATE OF TEXAS $55M $42M Land Portfolio 42 Assets 8 Assets $13.3M $13M 20 Assets 6 Assets $28.8M $24.1M 64 Assets 31 Assets $12M 17 Assets JAYLOR HOLDINGS $9.4M $7.4M 3 Assets 18 Assets 2 Assets $3M Restaurant Portfolio $11.5M Parking Portfolio 4 Assets

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7 Our unique dedication to property dispositions enables us to serve our clients with a specialized approach and experience that capture the most value. Our clients always come to us with a diverse set of needs, whether it be selling assets one at a time or altogether in a portfolio sale. We treat these various needs separately and customize our approach to best meet our clients goals. Portfolio Offering An accelerated national and international marketing program Designed to offer an entire portfolio of assets to a single portfolio purchaser who has participated in an investor selection process based on financial capacity and relevant portfolio acquisition experience Sales are completed within four (4) to five (5) months Net Lease Sales Broad marketing exposure for Net Lease properties and portfolios nationwide Monitoring on-going cap rates to achieve the highest pricing possible for our sellers These types of investments are appealing to a wide variety of buyers, from high net worth individuals to partnerships to large institutional investors to 1031 exchange buyers Sale-Leaseback A comprehensive national and international marketing program Designed to generate extraordinary value from the sale of a corporation s operating assets Assets are sold to a portfolio investor where the corporate entity leases back the facilities from which it will continue to operate Creating an opportunity for corporations to reinvest sales proceeds in core operations, pay off debt, fund expansions or increase shareholder value Individual Asset Sales A focused marketing program designed to sell each asset to various investors and users simultaneously Our marketing strategy solicits local interest, regional and national exposure Individual assets, include shopping centers, single tenant net lease assets, retail, industrial properties and non-core/surplus properties Structured Sale Designed to sell single or multiple assets to separate buyers within a specified time utilizing a bid due date

8 Through JLL s Disposition Services, our clients have access to the most powerful resources dedicated to their projects. Disposition Services is well positioned to lead any disposition team due to: Documented past performance in representing the owner s interest in portfolio dispositions. Creation and implementation of a highly focused, well-organized process directed at accomplishing the sale of all assets within five (5) months. Direct solicitation to specific, pre-determined and strategically motivated buyers. Direct access to these qualified buyers enable the marketing process to begin immediately. Access to in-depth financial analysis of each asset prepared by JLL. Proper valuation ensures appropriate pricing, realistic expectations and well-supported decisions. Previous portfolio disposition experience allows quick identification of well-qualified buyers and increases the likelihood of a shortened disposition period. Control of the offering process and timing in a confidential manner. This ensures prioritization of interest and competition among qualified buyers. The seller has the flexibility to accept, reject or negotiate an offer any time. Superior local market expertise lends credibility to the marketing program, maximizes value and provides the knowledge to minimize unwarranted objections, thereby eliminating value reduction. Participation by experienced tenured JLL sales professionals who operate from national and international offices with more than 78,000 employees serving clients through 30 corporate offices in 80 countries. We provide the most powerful and comprehensive real estate solutions available anywhere. Additional support is provided by independent contractors with whom we have existing relationships. These individuals in-depth knowledge of their respective marketplaces and their ability to function as a well-disciplined team play an invaluable role in the valuation and disposition process. Invaluable negotiating strength when dealing with sophisticated portfolio purchasers. This enables the seller to negotiate from a position of strength. Experience in representing the owner s interest. Disposition Services does not act as a purchaser. There are no conflicts with our representation of our clients. The portfolio disposition method, as implemented by JLL National Disposition Services, is a highly focused, well-organized disposition program with proven success. We are the industry s leading portfolio disposition experts.

9 Selecting JLL s Disposition Services to lead the team ensures that the stage has been set to successfully negotiate the most beneficial transaction for our clients.

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11 What value do we bring to our clients? JLL Disposition Services redefines disposition strategies by creating a client-specific marketing plan that considers various disposition alternatives, leverages JLL s national and global resources and defines a strategy to best generate maximum value while reducing risk. Eliminate the Complexity of Multiple Property Sales We provide centralized project management. Our staff orchestrates a well-defined, highly focused disposition process. Provides Full Accountability We coordinate the activities of all team members, including outside service providers, necessary for project completion. Property valuation and comprehensive financial information is the key to increasing perceived value of the assets. Reduce Time Period for Disposition Solicit interest only from prequalified buyers with financial capacity. Comprehensive due diligence information is prepared in advance. This shortens the time required for buyers due diligence. Proven marketing process ensures quick and efficient implementation. Gain Exposure to Qualified and Motivated Buyers Solicit interest from buyers who have demonstrated they have the financial capacity and dedicated resources to complete a timely transaction. Reduce Transaction Fees Selling assets simultaneously reduces legal and closing costs. Discounts may be negotiated with title companies, surveyors, environmental firms, etc. Reduce Commissions Portfolio dispositions are transacted at commission rates that are less than traditional brokerage fees. Increase Success Documented past performance due to previous portfolio assignments. When should you hire us? Sellers should seriously consider hiring JLL s National Disposition Service team when there is interest in obtaining the highest value for multiple property portfolios with: Single assets and portfolios Value of $1 million to $500 million Centralized decision making Date sensitive completion date Local, regional or national locations Requirement for a structured, well-documented disposition process Flexibility to sell assets individually or in pools in order to enhance success, maximize value and minimize cost of sales Selection of a marketing team that historically represents only the seller s interest Flexibility to consider multiple disposition alternatives designed to meet financial objectives Leverage the skills of known disposition experts while minimizing commissions and expenses JLL s Disposition Services employs highly successful marketing programs that enhance timely dispositions while maximizing value and reducing costs. We will drawn upon our depth of experience from previous portfolio sales to ensure success for our clients.

12 Donna Kolius, CCIM Executive Vice President Clients Represented Alex. Brown Realty American Standard Berkline Army and Air Force Exchange BH Properties Borden CARQUEST Central Parking System Centre Lane Partners Ciena Capital Coventry Real Estate Advisors DVL, Inc. ExxonMobil FDIC HOBB-TX Hudson Advisors Inland Real Estate Group Jaylor Holdings JCPenney JPMorgan Fleming MetLife Millennium Chemicals ORIX Capital Markets Principal Financial Group Public Storage, Inc. Sears Shell Oil Products Company State Farm State of Texas Sun Capital Partners SuperValu Walmart Stores YRG Restaurants Yum! Brands, Inc. Zions First National Bank Zurich Asset Management Professional Experience Donna Kolius is Executive Vice President of JLL s Disposition Services. Ms. Kolius primary focus is the sale of national real estate portfolios for corporations, private investors, financial institutions, and real estate investment trusts. Disposition methods include Individual asset sales, portfolio offerings, net lease sales, and sale-leaseback transactions. Prior to joining JLL, Ms. Kolius was with CBRE as Senior Vice President with their Portfolio Services group for 33 years. Significant Assignments Since its inception in 1989, Ms. Kolius and her team has sold 109 portfolios with a total of 2,993 assets and an aggregate sales price of $4.12 billion. Achievements CBRE Chairman Award for Leadership Five-time award winner, CBRE Top Producer in Houston Three-time award winner, Colbert Coldwell Circle Ranked 3rd out of 1,800 CBRE Sales Professionals in North America Recognized as one of 50 Superstar Brokers by Real Estate Forum Magazine Walmart s Broker of the Year Award CBRE s Rainmaker Award Education Ms. Kolius is a graduate of East Carolina University. She is a licensed broker in Texas and a CCIM, Certified Commercial Investment Member (CCIM). Major Portfolios Assets Description Walmart 230 assets $664.9 million retail portfolio 42 assets $194 million office and industrial portfolio National Insurance Company 32 assets $80 million business park portfolio 12 assets $23 million service center portfolio 8 assets $23 million office portfolio JP Morgan Chase 206 assets $180 million portfolio Zurich Alternative Asset Management 74 assets $75 million Napa portfolio American Standard 28 assets $63 million industrial portfolio ExxonMobil 181 assets $61 million retail portfolio Shell/Texaco 193 assets $59 million retail portfolio Central Parking System 16 assets $56.8 million parking portfolio Inland 25 assets $55.3 million retail portfolio CARQUEST 128 assets $55 million sale-leaseback portfolio MetLife 34 assets $55 million retail portfolio VEREIT 31 assets $24.1 million restaurant portfolio JCPenney 6 assets $13 million retail portfolio

13 Pierce Owens, CCIM Senior Vice President Clients Represented American Standard Berkline CARQUEST Central Parking System Centre Lane Partners Ciena Capital Coventry Real Estate Advisors DVL, Inc. FDIC HOBB-TX Inland Real Estate Group Jaylor Holdings JCPenney ORIX Capital Markets Principal Financial Group Public Storage, Inc. Sears Shell Oil Products Company State of Texas Sun Capital Partners Walmart Stores YRG Restaurants Yumi Brands, Inc. Zions First National Bank Zurich Asset Management Professional Experience Pierce Owens primary responsibility is the sale of multi-market real estate portfolios on behalf of corporations, private equity firms, real estate investment trusts, financial institutions, and private investors. Disposition methods include individual asset sales, portfolio offerings, net lease sales, and sale-leaseback transactions. Mr. Owens is also a member of the JLL Capital Markets, Net Lease, a select team of experts that specialize in the sale, purchase and recapitalization of net leased industrial, medical, office, retail, and ground lease assets. Prior to joining JLL, Mr. Owens was with CBRE Portfolio Services for 14 years. Mr. Owens also has worked for El Paso Corporation (now Kinder Morgan) in a variety of financial roles including energy trading, risk management, and international energy project development. Organizations and Achievements Real Estate Advisory Committee member at the Jesse H. Jones Graduate School of Business Jones Partners member and served as an Executive Board Member from Past Board Member of the Jones Graduate School of Business Alumni Association at Rice University. Certified Commercial Investment Members (CCIM) designation in 2007 Walmart s Broker of the Year Award Pierce Owens was recognized as CBRE Houston s Rookie of the Year in 2005 Education Mr. Owens received his Bachelor of Science at Tulane University, New Orleans, Louisiana. In 1998, he received his Master in Business Administration from Rice University in Houston, Texas. Major Portfolios Assets Description Walmart 230 assets $664.9 million retail portfolio Zurich Alternative Management 74 assets $75 million Napa portfolio CARQUEST 128 assets $55 million sale-leaseback portfolio American Standard 28 assets $63 million industrial portfolio Shell/Texaco 193 assets $59 million retail portfolio Central Parking System 16 assets $56.8 million parking portfolio Inland 25 assets $55.3 million retail portfolio State of Texas 8 assets $42.3 million land portfolio Yum! Brands 64 assets $28.8 million retail portfolio VEREIT 31 assets $24.1 million restaurant portfolio Coventry 3 assets $22.7 million retail portfolio DVL, Inc. 19 assets $13.1 million retail portfolio JCPenney 6 assets $13 million retail portfolio Principal Financial 17 assets $12 million retail portfolio Public Storage 4 assets $11 million self-storage portfolio Orix Capital Markets 3 assets $9.4 million retail portfolio Sears 2 assets $3.0 million retail portfolio

14 Professional Experience Kaylie Walker Associate Clients Represented JCPenney Sun Capital Partners VEREIT Yum! Brands, Inc. Kaylie Walker is an Associate for the Disposition Services team at JLL. The Disposition Services is a specialty group within the investment properties platform. Ms. Walker s primary responsibilities include the sale of national real estate portfolios for corporations, private investors, financial institutions and real estate investment trusts. Disposition methods include asset sales, portfolio offerings, net lease sales and saleleaseback transactions. She also participates in asset valuation. Prior to joining JLL, Ms. Walker served as Financial Manager in overseeing revenue and expense accounts for 20 properties at Aggieland Realtors. Prior to this role, Ms. Walker served as a Market Analyst and Licensed Realtor where she was responsible for analyzing sales data and formulating an analytic sales approach for profit maximization. Achievements Ms. Walker graduated Magna Cum Laude at Texas A&M University with a degree in Finance from Mays Business School. She was named Most Outstanding Student for two consecutive years in her department, studied business abroad in Beijing, China, and was president/executive advisor to a National Honor Society on campus. Her coursework focused on real estate analysis, real estate law, land economics, real estate finance and real property valuation. Ms. Walker is an active member of the International Council of Shopping Centers and the Aggie Real Estate Network. Major Portfolios Assets Description VEREIT 31 assets $24.1 million restaurant portfolio JCPenney 6 assets $13 million retail portfolio

15 Multi-Market Disposition Experience We offer sellers the most powerful resources available and dedicate these resources to accomplishing the financial goals of our clients. Washington 10 Montana Oregon 3 California 15 Nevada Idaho 3 2 Utah 3 Alaska 2 25 Wyoming 4 Colorado 11 Arizona 13 New Mexico 2 North Dakota 6 Nebraska 3 Texas Arkansas 12 Louisiana 16 Kentucky 11 Tennessee 17 Mississippi 13 Alabama 13 Georgia 18 Florida 22 Maine 12 Rhode Island Minnesota South Dakota 10 Wisconsin New York 1 Massachusetts 3 27 Michigan 9 Connecticut2 Nebraska 17Pennsylvania Iowa Delaware Illionis 8 Indiana Ohio Virginia 1 New Jersey West Virginia North 1 Missouri 5 Carolina South Carolina 2 16

16 Disposition Services Donna Kolius, CCIM Executive Vice President Pierce Owens, CCIM Senior Vice President Kaylie Walker Associate Chelle Smith Brokerage Assistant