$2,340,000 / 9.5% CAP Frate Barker Rd, Austin, TX Median HH Income (1-Mile): $97,008

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1 PROPOSED The Goddard School 2111 Frate Barker Rd, Austin, TX Median HH Income (1-Mile): $97,008 brand NEW 15-YeaR Net Lease w/ 10% Rent Increases Every 5-Years goddard schools ranked #1 child care franchise (8th Consecutive year) high growth infill location along a commuter route Minutes from downtown austin surrounded by 1,000+ Res. units and an additional 10 planned developments in a 3-mile radius market leader: 320+ Franchisee schools in 37 states across the US austin ranks (2009): 1st best bang for your buck in us - 3rd us recession proof cities - 3rd Best us city for jobs $2,340,000 / 9.5% CAP Exclusive Listing Agent: Joe Caputo (415) joe@exp1031.com EXP REALTY ADVISORS HQ: 118 East 28th Street #808 New York NY T: (212) F: (212)

2 Subject Property Frate Barker Rd. Rancho Alto Rd. Frate Barker Rd. Subject Property Rancho Alto Rd.

3 Purchase Price: $2,340,000 CAP Rate: 9.5% Lease Term: 15 Years Building Area: +/- 8,000 SF Land Area: +/ Acres Lease Type: Double Net* Rental Increases: 10% Every 5-Years Occupancy: 100% Year Built: 2009 * Roof, Structure & HVAC Maintained By Landlord EXP Realty Advisors is pleased to present for sale a brand new The Goddard School child care facility strategically positioned along a commuter route within a high growth residential community, 15-minutes from downtown Austin, Texas. The subject property consists of a brand new building of approximtely 8,000 square feet on approximtaely 1.44 acres. This offering gives investors the unique opportunity to purchase a brand stabilized asset, leased to an established day care provider, within an expanding family oriented community. The US Department of Education shows 13M children under the age of six are enrolled in child care making it one of the fastest growing service industries in the US. Investment Highlights New 15-Year Double Net Lease, w/ 10% Increases Each 5-Years Lease Includes Personal Guarantees From Franchise Operators Market Leader: 320+ Franchise Owned Schools in 37 States Ranked #1 Child Care Franchise For 8 Consecutive Years Located Along Commuter Route Within a High Growth Residential Neighborhood Adjacent to Brand New Frate Barker Nursing Center 6 Elementary Schools in a 2-Mile Radius to Subject Property 10 Pre-Schools in 15-Mile Radius (Mostly in Homes and Churches) In 2009, Austin Ranks: 1st - Best Bang For Your Buck 3rd - US Recession Proof Cities 3rd - Best US Cities For Jobs Median HH Income (1-Mile): $97,008 COPYRIGHT ALL USE, DISCLOSURE AND/OR REPRODUCTION NOT SPECIFICALLY AUTHORIZED IS PROHIBITED. ALL RIGHTS RESERVED. EXP Realty Advisors ( Agent ) has espresented this confidential Investment Memorandum to assist the recipient in evaluating the Property and it is intended for your use only. This confidential material contains brief, selected information pertaining to the Property and shall not be considered all-inclusive or unchanged since the date of preparation. No warranty as to the accuracy or completeness is expressed or implied. The information has been received from sources believed to be reliable but is not guaranteed. Agent disclaims all liabilities in connection with any inaccuracies or incompleteness. The Buyer should independently verify each item of information and have the same reviewed by its tax advisor and/or legal counsel. The Buyer agrees that (a) the materials are of a highly confidential nature and will be held in the strictest confidence or shall be returned to Agent upon request; (b) the Buyer shall not contact any property manager, employee or tenant of the Property regarding the enclosed materials or the Property, without prior approval of Agent; and (c) the Buyer understands and agrees that Agent represents the seller and not the Buyer. Neither the seller nor Agent shall have any obligation to pay any commission, finder s fee, or other compensation to any broker or other person dealing with the Buyer. The Buyer may provide information to persons retained for the purpose of evaluating the Property after first obtaining a signed confidentiality agreement from such persons to keep such information confidential. The Buyer shall defend, indemnify and hold harmless the seller, Agent and its affiliates from and against any claims, demands, damages, liabilities, costs or expenses, including reasonable attorneys fees, relating to any claim for a commission, finder s fee or other compensation by any broker or other person dealing with the Buyer. The Property is being sold on an as-is, where-is and with all faults basis.

4 TENANT OVERVIEW: Founded: 1986 Lessee: Franchisee Headquarters: Pennsylvania Personal Guaranty: Yes Locations: 320+ Website: Recently named number one child care franchise in the United States by Entrepreneur magazine, for the eighth consecutive year (January 2009) and one of the top 200 franchise systems (in worldwide sales), by Franchise Times, for the second consecutive year (October 2008); Goddard Systems, Inc. (GSI) is expanding The Goddard School network throughout the United States. Headquartered in King of Prussia, Pennsylvania, GSI currently licenses 320-plus franchised schools in 37 states. Goddard Schools receive unannounced visits from GSI Quality Assurance representatives several times a year. The Goddard QA evaluation meticulously examines all aspects of health and safety as well as providing a detailed assessment of curriculum and programming. This absolute commitment to quality is strongly supported by franchisees as affirmed by an impressive 30 percent who have already purchased second franchises. Goddard franchisees share a common entrepreneurial spirit and a commitment to providing the highest quality child care in their communities, as evidenced by each school s on-site management. With a successful system in place and dedicated franchisees, GSI has achieved its initial goal as the acknowledged leader in franchised child care. The company now has its sights on the next level - recognition as the premier child care provider in the United States. Goddard School buildings are custom designed and planned to provide safe, healthy and stimulating environments for children from six weeks to six-years-old. Two separate playgrounds are designed to challenge and delight each age group. Every Goddard School: Is a fully licensed child care facility Has highly qualified staff trained in Early Childhood Education or Child Development Provides children with carefully planned educational programs that meet the social, emotional, cognitive and physical needs of each child Maintains a small group atmosphere to provide individual attention Offers open and honest communication with parents in an atmosphere of mutual trust and respect

5 Frate Barker Rd. Subject Property Frate Barker Nursing Center Under Construction - May 2010 Opening Subject Property

6 LOCATION OVERVIEW: Immediate Trade Area Southwest Austin The Goddard School is located on the southeast corner of Frate Barker Road and Rancho Alto Road in the rolling hills of Southwest Austin within a subdivison knows as Rancho Alto adjacent to a brand new nursing home. In a 2-mile radius of the subject property, there are 6 elementary schools, including Manchaca Elementary School, Austin Christian Academy, Baranoff Elementary School, Blackshear Elementary School and Allison Elementary School. In a 15-mile radius of the subject property, there are approximately 10 pre-schools, most of which are home-based or housed in religious institutions. Frate Barker Rd. is a major commute thoroughfare for area residents - expansion plans, to accommodate this area s rapid population growth, recently approved by TxDOT. D.R. Horton Homes has built several hundred new homes that surround the site. In addition, Legacy Homes has built another planned development less than one quarter mile from the site. There are over 10 planned residential developments within 3-miles of the site. Frate Barker Rd. Subject Property Southwest Austin benefits from a combination of natural beauty and modern convenience, with easy access to surrounding cities makes for an ideal quality of life that thousands of area residents can attest to. Real estate options in Austin typically consist of detached single-family homes as well as large, historic, brick houses with modern floor plans starting at around $200,000 and ranging into the $400,000s. Excellent educational institutions, friendly neighbors, a wealth of indoor and outdoor recreation and a thriving economy come together to form this vibrant community. Residents of southwest Austin take advantage of the inherent natural beauty by preserving and adding to native flora, as well as building and maintaining walking, biking and hiking trails. The area also features meandering streams and expansive natural clearings for picnics and gatherings. Additionally, the neighborhood boasts large volleyball and basketball courts, safe, clean playgrounds, a state-of-the-art soccer complex and a huge swim center and bathhouse where residents regularly host barbecues and parties; it also has its own 18-hole golf course and a scenic 3-mile track called the Veloway, that is used mainly for biking and rollerblading and is currently being extended to double its length. Across from the Veloway is the Lady Bird Johnson Wildflower Center, a beautiful botanical garden dedicated to native Texan plants and flowers.

7 EXISTING DEBT: MUST BE ASSUMED Location Maps

8 CORPORATE CHECKERS DOUBLE CARL S DRIVE-THRU JR. GROUND LEASE RESTAURANT NEW BRAUNFELS PORTAGE, IN TEXAS CHICAGO MSA LEASE OVERVIEW Primary Lease Term: Fifteen (15) Years Options: Two (2), Five (5) Year Rent Commencement: September 2009 Annual Rent (Years 1-5): $222,222 Lease Expiration: August 2024 Annual Rent (Years 6-10): $244,200 Lease Type: Double Net (NN) Annual Rent (Years 10-15): $268,620 Roof, Structure & HVAC: Paid by Landlord Option One Rent (Years 16-20): $295,482 Personal Guaranty: Yes Option Two Rent (Years 21-25): $325,030 RENT ROLL Building Land Lease Term Rent Tenant* Area Area Begin End Monthly Annually Taxes Insurance CAM's The Goddard School 8,000 SF Acres Sep-2009 Aug-2010 $18,519 $222,222 NNN NNN NNN Sep-2010 Aug-2011 $18,519 NNN NNN NNN Sep-2011 Aug-2012 $18,519 NNN NNN NNN Sep-2012 Aug-2013 $18,519 NNN NNN NNN Sep-2013 Aug-2014 $18,519 NNN NNN NNN 10% Increase Sep-2014 Aug-2015 $20,350 $244,200 NNN NNN NNN Sep-2015 Aug-2016 $20,350 NNN NNN NNN Sep-2016 Aug-2017 $20,350 NNN NNN NNN Sep-2017 Aug-2018 $20,350 NNN NNN NNN Sep-2018 Aug-2019 $20,350 NNN NNN NNN 10% Increase Sep-2019 Aug-2020 $22,385 $268,620 NNN NNN NNN Sep-2020 Aug-2021 $22,385 NNN NNN NNN Sep-2021 Aug-2022 $22,385 NNN NNN NNN Sep-2022 Aug-2023 $22,385 NNN NNN NNN Sep-2023 Aug-2024 $22,385 NNN NNN NNN 10% Increase (Option 1) Sep-2024 Aug-2025 $24,624 $295,482 NNN NNN NNN Sep-2025 Aug-2026 $24,624 NNN NNN NNN Sep-2026 Aug-2027 $24,624 NNN NNN NNN Sep-2027 Aug-2028 $24,624 NNN NNN NNN Sep-2028 Aug-2029 $24,624 NNN NNN NNN 10% Increase (Option 2) Sep-2029 Aug-2030 $27,086 $325,030 NNN NNN NNN Sep-2030 Aug-2031 $27,086 NNN NNN NNN Sep-2031 Aug-2032 $27,086 NNN NNN NNN Sep-2032 Aug-2033 $27,086 NNN NNN NNN Sep-2033 Aug-2034 $27,086 NNN NNN NNN * Franchisee with personal guaranty from franchise operators. Tenant has a first right of refusal to purchase the property.

9 Austin, TX The City of Austin Ranks... 1st: Best Bang for Your Buck Cities in the US - Forbes 10/08 2nd: America s Hottest Labor Markets - Biz Journals 9/08 3rd: America s Recession Proof Cities - Forbes 5/08 3rd: Best US Cities for Jobs in Forbes 1/08 4th: Best Performing Cities in the US - Milken Institute 9/08 Austin is recognized for its laid-back lifestyle, live music, and natural beauty and is legendary for being the Live Music Capital of the World. Austin draws musicians and producers from around the world and showcases their talent in clubs, galleries, and restaurants in the heart of the Central Business District. Recreational activities flourish in the area with more than 14,000 acres of green space, 30 miles of hiking and biking trails, 172 city parks, 27 golf courses, two lakes within the city limits, more than 100 swimming holes and nine wilderness areas. All of these features contribute to Austin s high quality of life, attracting young professionals and creating a buoyant economy with tremendous growth prospects. Major employers in Austin MSA include the State of Texas, Dell Computer Corp., The University of Texas at Austin, The Austin Independent School District, The Federal Government, The City of Austin, Seton Healthcare Network, IBM Corp, Freescale Semiconductor and Saint David s Healthcare Partnership. The Austin MSA has seen population grow from a little over 1,000,000 in 1995 to currently over 1,500,000; an increase of over 40%. Austin is home to the state capital, many high-tech businesses, the University of Texas, one of the nation s largest universities and more. Between the University of Texas and five other area colleges and universities, the Austin MSA has over 100,000 college students. The Austin MSA receives more venture capital investment than almost any other region in the US. Venture capital investments in Austin companies have grown dramatically in recent years with an average of $521 million invested annually since During 2007, the majority of venture capital dollars targeted technology related companies with more than 53% invested in software, semiconductor, and IT service companies Demographic Snapshot CATAGORY 1 MILE 3 MILE 5 MILE Population 7,194 51, ,884 Households 2,716 18,168 50,795 Average HH Income $91,962 $81,581 $78,868 Median HH Income $97,008 $79,866 $76,924 Median Disposable Income $74,974 $63,881 $61,824 Owner Occupied Housing 78.5% 69.6% 65.6% Median Age Employment Rate 96.3% 97.2% 97.1% Drive to Work (Alone) 86.6% 81.4% 80.0% White Collar Occupation 77.3% 75.5% 74.1% Source: Demographics Now December 2009