2nd QUARTER ACTIVITY AT COMBINED PROPERTIES

Washington, DC (July 18, 2013) --- It has been a busy quarter at Combined Properties with the acquisition of a California shopping center, the final construction phase of a redevelopment in Fairfax, VA and strong retail activity within the portfolio of shopping centers. During the 2nd quarter, 43,131 SF of retail space was leased and 8 stores occupying 33,419 SF opened for business.

In June, Combined Properties acquired The Terraces, a 173,000 SF community shopping center located in the heart of the affluent community of Rancho Palos Verdes, a suburb of Los Angeles. The acquisition is the first property to be purchased in its joint venture with Saban Capital Group.

Acquisition: The Terraces (Rancho Palos Verdes, CA)

The final phase of redevelopment construction is nearing completion at Turnpike Shopping Center, a 104,000 SF center located in Fairfax, VA. Highlights include an updated façade, new leases totaling 74,458 SF and the reconfiguration of the side of the building (fronting Pickett Road) to provide new storefronts with outdoor seating and convenient parking. The majority of the center is leased in advance of construction being completed with many of the merchants opening in the 3rdand 4thquarter this year.
Turnpike Shopping Center (Fairfax, VA) Before & After

Firm Background Combined Properties, Incorporated is a full-service real estate firm headquartered in Washington, DC with an office in Beverly Hills, CA. Founded in 1984, Combined Properties has consistently been ranked as one of the top private owners of retail centers in the Washington metropolitan area. With a portfolio comprised of 5 million square feet and a $1 billion development pipeline, the firm is now branching out from its concentration in retail real estate by applying its multidisciplinary expertise in the areas of development, asset management, leasing, and finance, to developing innovative mixed-use properties. For more information visit our website: www.combined.biz # # # Contact: Linda Dreyer, Director of Marketing (202) 736-2813