LenderOrderedShortSale

2.5AcreMixedUse/CommercialSite HeartOfMidtownAtlanta

VE. NORTHA

JU

NI PE R ST .

Pageof35Information contained herein may have been provided by outside sources and while deemed to be reliable, may be

estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.

PIEDMONTAVE.
E PONC

AVE. EON DEL

ExecutiveSummary

2.5AcresintheHeartofMidtownAtlanta
BullRealtyispleasedtopresentthislenderorderedsale,offeringinvestorsanopportunitytoacquireaprime 2.5acre assemblage approved for 1.4 million square feet of mixed use or commercial development in MidtownAtlanta,Georgia.BoundedbyfourwellknownstreetsPoncedeLeonAvenue,PiedmontAvenue, NorthAvenue,andJuniperStreetthepropertycomprisesnearlyanentirecityblockwithunmatchedvisibil itylocatedintheheartofMidtown,onethemostsoughtafterbusinessandresidentialareasintheentire SoutheasternUnitedStates.ThepropertyislocatedwithintwoblocksofAtlantastallestskyscraper,Bankof AmericaPlaza,EmoryUniversityHospitalMidtownandtheFabulousFoxTheatre. TheSPI16zoningallowsversatileusesincludingoffice,retail,medical,hotel,multifamily,assistedliving,or studenthousing.TheMidtownarea,convenienttoGeorgiaTech,GeorgiaStateUniversity,andEmoryUni versity,ispopularforbothbusinessusesandresidentialliving.Threeexistingbuildingstotalinginexcessof 75,000squarefeetproducemodestincomefromshorttermleasesthatcanhelptodefrayholdingcosts. UponexecutionoftheConfidentialityAgreement,anextensivepackageofduediligencedeliverablesasout linedonPage34willbemadeavailable. September2008appraisal:$27.3million Currentapproximateloanbalance:$11million Thepropertyisofferedunpriced,withthelenderexpectingtoacceptashortsaleofferforlessthantheloan balanceandforaquick,cleanclosing. PleasesubmitallwrittenofferstoDanielLatshawwithBullRealty,Inc.by5:00p.m.onFriday,June3,2011.

C ALL F OR O FFERS J UNE 3 , 2 0 1 1

Page2of35Information contained herein may have been provided by outside sources and while deemed to be reliable, may be
estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.

TableofContents

2.5AcresintheHeartofMidtownAtlanta

ExecutiveSummary TableofContentsandDisclaimer PropertyAerial PropertyDetails ParcelMap PropertyPhotos SurroundingAreaPhotos Demographics TrafficCounts MidtownOverview FountainonPonceProjectDesigns AppraisalSummary HistoricalPhotos SummaryofAvailableDueDiligenceDocuments BrokerProfile

Page 2 3 4 5 6 79 1013 14 1516 1719 2031 32 33 34 35

Anyincludedincome,expenses,caprates,costs,returnestimates,renovations,measurements,squarefootage,acreage, projections,interestrates,loanterms,propertycondition,possibleuses,zoningandotherinformationhereinmayhavebeen providedbytheseller,landlordorotheroutsidesourcesandwhiledeemedtobereliable,maybeestimated,projected,issubjectto change,and/ormaybelimitedinscope,andthereforeshallnotberelieduponasaccurate.Anysuchinformationimportanttothe purchaser,lesseeorotherpartiesshouldbeindependentlyconfirmedwithinanapplicableduediligenceperiod.Pleasedonot disturbthemanagement,business,tenantsorsellers.Thisofferissubjecttopriorchangeorsalewithoutnotice.

Page3of35Information contained herein may have been provided by outside sources and while deemed to be reliable, may be

estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.

PropertyAerial

FOX THEATRE

GEORGIAN TERRACE

ALEXANDER ONPONCE RESIDENCES

CHURCH

SCAD

FUTURE COUSINS DEVELOPMENT

SUBJECT PROPERTY

CAMDEN IVYHALL

BANKOF AMERICA PLAZA

PUBLIX/ WALGREENS

EMORY UNIVERSITY HOSPITAL MIDTOWN

Page4of35Information contained herein may have been provided by outside sources and while deemed to be reliable, may be

estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.


ParcelSize County Zoning ExistingBuildings PropertyLocation

PropertyDetails

+/2.5Acres Fulton SPI16 ThreeBuildingsTotalingApprox.75,000SF NearlyEntireCityBlockinMidtownAtlanta

Price

LenderOrderedShortSale, CallForOffersDueJune3,2011

131 Ponce aka Pei Building

151 Ponce

Church Parcel NotPartOf Offering

128 North

Page5of35Information contained herein may have been provided by outside sources and while deemed to be reliable, may be

estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.

ParcelMap

Page6of35Information contained herein may have been provided by outside sources and while deemed to be reliable, may be

estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.

PropertyPhotos

Therearepresentlythreeexistingbuildingsonthesiteapproximatelyof75,000squarefeet,whichproduce modestincomefromshorttermleasestohelpdefrayholdingcosts.Properlyrepositionedand/orrenovated, anewbuildingownermaybeabletosubstantiallyincreasetheexistingincomestream.

131PoncedeLeonAvenue(akaPeiBuilding):

+/38,000SFoccupiedtwostorymultitenantofficebuilding

Page7of35Information contained herein may have been provided by outside sources and while deemed to be reliable, may be

estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.

PropertyPhotos

151PoncedeLeonAvenue:

+/34,000SFvacanttwostoryofficebuilding,currentlyinshellcondition

Page8of35Information contained herein may have been provided by outside sources and while deemed to be reliable, may be

estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.

PropertyPhotos

128NorthAvenue:

+/5,831SFbuildingoccupiedbyasinglemedicaltenant

Page9of35Information contained herein may have been provided by outside sources and while deemed to be reliable, may be

estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.


NeighboringDevelopments

SurroundingArea

CamdenIvyHallisanewresidentialcommunityacrossPiedmontAvenuefrom thesubjectproperty.

AlexanderonPonceisanewlydevelopedresidentialcommunityacross PoncedeLeonAvenuefromthesubjectproperty.

Page10of35Information contained herein may have been provided by outside sources and while deemed to be reliable, may be

estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.


NeighboringProperties

SurroundingArea

St.PaulsPresbyterianChurchoccupiesthesamecityblock asthesubjectproperty.

EmoryUniversityHospitalMidtown,shownabove,istwoblocksaway; thesubjectpropertysparkinglotandbillboardarevisibleatlowerright.

Page11of35Information contained herein may have been provided by outside sources and while deemed to be reliable, may be

estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.


NeighboringProperties

SurroundingArea

SavannahCollegeofArt&Design(SCAD)occupieshistoricIvyHall acrossPiedmontAvenuefromthesubjectproperty.

TheGeorgianTerraceHotelrisesabovePeachtreeStreetacrossfromthe FabulousFoxTheatreoneblocknorthwestofthesubjectproperty.

Page12of35Information contained herein may have been provided by outside sources and while deemed to be reliable, may be

estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.


NeighboringProperties

SurroundingArea

AviewfromthesubjectpropertytothewestshowsBankofAmericaPlaza andtwocondobuildingsalongPeachtreeStreet.

AretailcenterwithPublixandWalgreenssitstotheimmediate southeastofthesubjectproperty.

Page13of35Information contained herein may have been provided by outside sources and while deemed to be reliable, may be

estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.

Demographics

Page14of35Information contained herein may have been provided by outside sources and while deemed to be reliable, may be

estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.

TrafficCounts

Page15of35Information contained herein may have been provided by outside sources and while deemed to be reliable, may be

estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.

TrafficCounts

Page16of35Information contained herein may have been provided by outside sources and while deemed to be reliable, may be

estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.

MidtownOverview

Page17of35Information contained herein may have been provided by outside sources and while deemed to be reliable, may be

estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.

MidtownOverview

Page18of35Information contained herein may have been provided by outside sources and while deemed to be reliable, may be

estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.

MidtownOverview

Page19of35Information contained herein may have been provided by outside sources and while deemed to be reliable, may be

estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.

FountainonPonce

FountainOnPoncewasthenamegiventothemixeduseprojectmaster plannedforthissite.Whiletheprojectneverbrokeground,plansandde signswerecompletedandzoningchangeswereapprovedbythe CityofAtlanta(asshownonpp.67). Thefollowingpagespresentsomeoftheplansanddesignsthatwerecom pletedforthisproject.Seealso http://www.youtube.com/watch?v=csyg4WVG90c foraninformativevideothatwasproducedin2007topromotetheproject.

Page20of35Information contained herein may have been provided by outside sources and while deemed to be reliable, may be

estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.

FountainonPonce

Page21of35Information contained herein may have been provided by outside sources and while deemed to be reliable, may be

estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.

FountainonPonce

Page22of35Information contained herein may have been provided by outside sources and while deemed to be reliable, may be

estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.

FountainonPonce

Page23of35Information contained herein may have been provided by outside sources and while deemed to be reliable, may be

estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.

FountainonPonce

Page24of35Information contained herein may have been provided by outside sources and while deemed to be reliable, may be

estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.

FountainonPonceConceptualDesign

Page25of35Information contained herein may have been provided by outside sources and while deemed to be reliable, may be

estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.

FountainonPonceConceptualDesign

Page26of35Information contained herein may have been provided by outside sources and while deemed to be reliable, may be

estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.

FountainonPonce

Page27of35Information contained herein may have been provided by outside sources and while deemed to be reliable, may be

estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.

FountainonPonceConceptualDesign

Page28of35Information contained herein may have been provided by outside sources and while deemed to be reliable, may be

estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.

FountainonPonceConceptualDesign

Page29of35Information contained herein may have been provided by outside sources and while deemed to be reliable, may be

estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.

FountainonPonceConceptualDesign

Page30of35Information contained herein may have been provided by outside sources and while deemed to be reliable, may be

estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.

FountainonPonceConceptualDesign

Page31of35Information contained herein may have been provided by outside sources and while deemed to be reliable, may be

estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.

AppraisalSummary

NOTE:FullAppraisalisavailableinseparatedocument aspartofDueDiligencedeliverables.

Page32of35Information contained herein may have been provided by outside sources and while deemed to be reliable, may be

estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.

HistoricalPhotosofProperty

The Gulf Oil Building at 131 Ponce de Leon Avenue is historically significant, as it was the first buildingeverdesignedbyrenownedarchitectI.M.Pei.

Page33of35Information contained herein may have been provided by outside sources and while deemed to be reliable, may be

estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.

SummaryofDueDiligenceDocuments

DueDiligenceDeliverables Toassistthebidderinmakingamoreinformedoffer,uponexecutionoftheConfidentiality Agreementafullpackageofthefollowingduediligencedeliverableswillbemadeavailable.

PhaseIEnvironmentalSiteAssessmentbyGaiaEnvironmentalConsulting FullAppraisalReportbyKirkland&Companydated2008 TopographicReportbyEnvironmentalDataResources AtlantaCityCouncilZoningOrdinanceforSubjectPropertydated5/8/07 ReportofPreliminarySubsurfaceExplorationandGeotechnicalEngineeringEvaluationbyPiedmontGeotechnical Consultants,Inc.dated4/28/08 April2011RentRollfor131PoncedeLeonAvenue 2010IncomeandExpenseReport Survey&LegalDescriptionbyBoundaryZone,Inc.dated3/14/08 TheFountainatPonceDevelopmentConceptSummarydatedApril10,2008 CityofAtlantaZoningGuidelinesforSPI16 TransportationAnalysisbyKimleyHornandAssociates,Inc.DRI#1476datedNovember2007 AtlantaRegionalCommissionReviewofImpactdatedNovember2007 ArchitecturalSitePlanbyLord,Aeck&Sargent ConceptualDesignsbyLord,Aeck&Sargent HarvardGraduateSchoolofDesignMidtownAtlantaProjectDesignCharretteMissionStatementdated9/10/07 HarvardGraduateSchoolofDesignMidtownAtlantaProjectDesignCharretteSummaryNotesdated9/20/07 HarvardGraduateSchoolofDesignMidtownAtlantaProjectDesignCharretteParticipantBios HarvardGraduateSchoolofDesignMidtownAtlantaProjectDesignCharretteParticipantContactInfo HarvardGraduateSchoolofDesignMidtownAtlantaProjectDesignCharretteBudget ProjectBrochurepreparedforICSC AtlantaMagazinearticledatedSeptember2007:MidtownGrowsUp MidtownMomentumarticledatedSeptember2008:EmorytoExpandMidtownCampus AtlantaBusinessChroniclearticledated4/30/07:Dirtfor$13MillionanAcre AtlantaJournalConstitutionarticle:ComplexWillRetainHistory MidtownAllianceCommunityOverview2007 MidtownAllianceCompilationofUnderConstruction&PlannedDevelopments2010 FultonCountyBoardofAssessorstaxsummaryParcel91 FultonCountyBoardofAssessorstaxsummaryParcel92 FultonCountyBoardofAssessorstaxsummaryParcel93 LetterfromGeorgeH.MillerofPeiCobbFreed&PartnersArchitectsdatedDecember3,2007 PeiCobbFreed&PartnersArchitectsproposaldated3/17/08 AerialPhotographofSurroundingArea MidtownProjectCallNotesdatedSeptember5,2007 RadiusMapbyEnvironmentalDataResources PropertyAreaLocationMap PropertyTaxPlatMap SpreadsheetofCulturalVenuesinMidtownAtlanta NineHistoricPicturesof131PoncedeLeon

Page34of35Information contained herein may have been provided by outside sources and while deemed to be reliable, may be

estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.


DanielLatshaw,CCIM,MBA Partner 404.876.1640x127 Daniel@BullRealty.com BullRealty,Inc. 50GlenlakeParkway,Suite650 Atlanta,GA30328

BrokerProfile

SincepurchasinghisfirstinvestmentpropertyintheOrmewoodParkneighborhoodin1995,Danielhashada passionforintownAtlantarealestate.DuringanMBAprogramattheGoizuetaBusinessSchoolatEmory University,hedecidedtomakeacareeroutofwhatstartedasahobby.AtEmoryhewasthefounderandthe firstPresidentoftheGoizuetaRealEstateGroup.UpongraduatingDanielmanagedacquisitionsfortheUK's topinstitutionalrealestateinvestmenthouse,INGBaringsinLondon.UponarrivalbackinAtlanta,Daniel joinedBullRealtyduetothefirm'sinnovativemarketingandreputation. DanielhassinceearnedPartnerstatusandaCCIMdesignationwhilebeingatopproducerforthepast10 yearsatBullRealty.Hehasexceededclient'sexpectationsinhundredsofprojectsspecializingincreative& mixedusespaceinintownAtlantasubmarkets.InhissparetimeDanielenjoystimewithhiswifeandfour daughters.Heisactivelyinvolvedinchurchleadership,andisanavidsurfer&wakeboarder.

BullRealtyisacommercialrealestatebrokeragefirmprovidingmarketingandacquisitionservicesacrossthe country for institutional and private equity investors, lenders, institutions and users of commercial real estate.Thefirmiswellknownfortheirsuccessfulmarketingplatformandindustryleadinguseoftechnology. Specificbrokerteamsspecializeinretail,office,industrial,apartments,land,medical,hospitality,and specialassetservices. BullRealtyprovidesmarketingandotherservicesfor74lendersandservicers. GooglechoosesBullRealty.comasthenumberonewebsiteforthemostoftenusedsearchphrasefor CommercialRealEstateGeorgia. BullRealtymarketingservicesincludesvideosofappropriateproperties. ThefirmhoststheCommercialRealEstateShow,aNationaltalkradioshowwhichairsat10AMESTevery Saturdayonairatbiz1190AMandonlineatwww.CommercialRealEstateShow.com.

Page35of35Information contained herein may have been provided by outside sources and while deemed to be reliable, may be

estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.