7.75% CAP RATE FOR SALE

PORTFOLIO OF 19 STATE LEASED OFFICE BUILDINGS

Matthew Levin, CCIMSenior Advisor770.209.1700levinm@svn.com

SVN | INTERSTATE BROKERS | 3300 HOLCOMB BRIDGE RD, STE 240, PEACHTREE CORNERS, GA 30092 SALE BROCHURE

PORTFOLIO SALE 100% LEASED 19 STATE OF GEORGIA OFFICE BUILDINGS SVN | Interstate Brokers | Page 2The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and

completeness. All SVN® offices are independently owned and operated.

Portfolio Name 100% Leased 19 State ofGeorgia Office Buildings

Price $14,500,000

Price Per SF $109 SF

Cap Rate 7.75% 2019 Projected

Total Buildings 19

Total SF 133,540 SF

Single Tenant Freestanding Yes

SVN Commercial Real Estate Advisors is pleased to offer aportfolio of 19 freestanding single tenant office buildings totaling133,540 square feet leased to the State of Georgia. The State ofGeorgia credit and long term stable occupancy provide a reliable,predictable and recession proof investment. Originally constructedin the 1980’s, the portfolio has maintained 100% occupancy. Theproperties are located in 19 Georgia counties. The existing propertymanagement is available to continue after closing.

The State of Georgia enters into one year leases for the fiscal yearJuly 1st to June 30th. The leases often have up to 4 one yearrenewal options and either fixed or escalating rents. The landlordis responsible for all services except utilities, janitorial and trashcollection. The properties have excess land for future expansion.The Department of Human Services Division of Family andChildren Services (DFCS) is the end user. The majority of allcounties in the State of Georgia have a DFCS office.

The Department of Human Services (DHS) is one of the largestagencies in state government with an annual budget of $1.8 billionand nearly 9,000 employees. DHS is comprised of three divisionsincluding the Division of Family and Children Services. The Divisionof Family and Children Services investigates reports of child abuse;finds foster and adoptive homes for abused and neglectedchildren; issues SNAP, Medicaid, TANF and child care assistance tolow-income families; helps out-of-work parents get back on theirfeet; and provides numerous support services and innovativeprograms to help families in need.

• State of Georgia credit tenancy

• Recession proof investment

• 100% occupancy since 1980’s

• Division of Family & Children Services occupant

• Renewable one year lease terms

• Tenants pay utilities, janitorial and trash

• Single tenant freestanding properties

• Excess land for future expansion

• Existing property management available

Property Details & Highlights

PORTFOLIO SALE 100% LEASED 19 STATE OF GEORGIA OFFICE BUILDINGS SVN | Interstate Brokers|Page 3 The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your

responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.

STATE OF GEORGIA OFFICE PORTFOLIO INVESTMENT

CONSOLIDATED PROFIT AND LOSS STATEMENTS

Projected

2016 2017 2018 2019 $ Sq Ft

Income Scheduled Rent $1,411,649.95 $1,416,640.68 $1,423,800.24 $1,431,975.25 $10.72

Rent Increase Settle Up $12,544.63 $13,780.34 $16,692.45 $0.00

$1,424,194.58 $1,430,421.02 $1,440,492.69 $1,431,975.25 Expense Insurance $24,525.35 $24,844.00 $16,047.00 $16,367.94 $0.12

Miscellaneous Other $0.00 $0.00 $2,752.16 $2,807.20 $0.02

Property Taxes $134,874.22 $101,295.58 $126,166.72 $128,690.05 $0.96

Repairs & Maintenance $86,385.05 $144,375.80 $100,920.78 $102,939.20 $0.77

Management 4% $56,967.78 $57,216.84 $57,619.71 $57,279.01 $0.43

Reserves $.50 SF $0.00 $0.00 $0.00 $66,796.00 $0.50

Total Expense $302,752.40 $327,732.22 $303,506.37 $308,083.41 $2.31

Net Operating Income $1,121,442.18 $1,102,688.80 $1,136,986.32 $1,123,891.84 $8.42

Notes: 2019 expenses projected to increase 2% annually from 2018 actuals.

STATE OF GEORGIA OFFICE PORTFOLIO INVESTMENT

RENT ROLL

Rent Projected Projected 1 Year Prop

# Lease

# Address County Sq Ft 2018

Annual Rent Per

Sq Ft 2019 Annual

Rent 2020 Annual

Rent Begin Expiration Renewals Through Renewal Rent

1 3706 101 Sunset Boulevard, Newton, GA 39870 Baker 3,467 $38,781.12 $11.19 $38,781.12 $38,781.12 7/1/17 6/30/20

2 4271 750 South Leroy St, Metter, GA 30439 Candler 6,656 $77,065.38 $11.58 $75,745.32 $75,745.32 7/1/17 6/30/20

3 3600 360 N Dugger Ave, Roberta, GA 31078 Crawford 6,691 $73,572.60 $11.00 $73,572.60 $73,572.60 7/1/15 6/30/20

4 3859 134 N College St, Hamilton, GA 31811 Harris 5,314 $72,748.56 $13.69 $71,792.16 $72,536.04 7/1/17 6/30/20

5 3590 2459 US Hwy 1 North, Louisville, GA 30434 Jefferson 6,324 $57,835.08 $9.15 $57,835.08 $57,835.08 7/1/15 6/30/20

6 3707 618 South Gray St, Millen, GA 30442 Jenkins 5,310 $60,605.40 $11.41 $59,472.00 $59,472.00 7/1/17 6/30/20

7 3602 729 West Court St, Wrightsville, GA 31096 Johnson 5,258 $58,775.80 $11.18 $57,680.28 $57,680.28 7/1/17 6/30/20

8 5091 141 James St, Gray, GA 31032 Jones 7,500 $88,740.00 $11.83 $88,740.00 $88,740.00 7/1/16 6/30/20

9 5035 122 Westgate Plaza, Barnesville, GA 30204 Lamar 7,500 $72,930.00 $9.72 $79,560.00 $79,560.00 7/1/16 6/30/20

10 4341 904 Claxton Dairy Rd # 1, Dublin, GA 31021 Laurens 29,767 $333,881.75 $11.22 $322,674.24 $322,674.24 7/1/16 6/30/20

10A 4341 904 Claxton Dairy Rd # 1, Dublin, GA 31021 Laurens 733 $7,945.68 $10.84 $7,945.68 $7,945.68 7/1/16 6/30/20

11 3601 413 Clifton Bradley Dr, Oglethorpe, GA 31068 Macon 6,324 $57,570.48 $9.10 $57,570.48 $57,570.48 7/1/16 6/30/20

12 3860 107 Martin Luther King Jr Dr, Forsyth, GA 31029 Monroe 5,314 $60,000.00 $11.29 $61,200.00 $61,200.00 7/1/16 6/30/20

13 3604 621 Hendry Street , Blackshear, GA 31516 Pierce 4,324 $48,011.04 $11.10 $48,011.04 $48,011.04 7/1/16 6/30/20

14 4170 606 Highway 19 South, Zebulon, GA 30295 Pike 7,125 $74,352.00 $10.44 $73,372.44 $73,372.44 7/1/16 6/30/20

15 3599 675 Godfrey Highway, Eatonton, GA 31024 Putnam 6,824 $69,276.24 $10.15 $69,276.24 $69,276.24 7/1/16 6/30/20

16 3581 502 East Broad St, Lumpkin, GA 31815 Stewart 3,391 $36,228.12 $10.68 $36,228.12 $36,228.12 7/1/15 6/30/20

17 5162 356 Jordan City Road, Talbotton, GA 31827 Talbott 4,705 $41,880.36 $8.90 $42,225.36 $42,225.36 7/1/19 6/30/20

18 3603 310 East Brewton St, McRae-Helena, GA 31055 Telfair 6,191 $65,066.52 $10.51 $65,066.52 $65,066.52 7/1/15 6/30/20

19 3862 312 Third Avenue, Alamo, GA 30411 Wheeler 4,822 $45,226.56 $9.38 $45,226.56 $45,226.56 7/1/15 6/30/20

6/30/20

6/30/22

6/30/20

6/30/22

6/30/20

6/30/22

6/30/22

6/30/20

6/30/21

6/30/20

6/30/20

6/30/20

6/30/21

6/30/20

6/30/21

6/30/20

6/30/20

6/30/20

6/30/20

6/30/22

$38,781.12 fixed

$74,745.28 fixed

$73,572.60 fixed

$73,226.88 fixed

$57,835.08 fixed

$59,472.00 fixed

$57,680.29 fixed

$88,740.00 fixed

$79,560.00 fixed

None

None

None

$61,200.00 fixed

None

$73,372.44 fixed

None

None

None

None

$45,226.56 fixed

133,540 $1,440,492.69 $10.79 $1,431,975.24 $1,432,719.12

Rent Increase Settle Up $16,692.45

$1,423,800.24

PORTFOLIO SALE 100% LEASED 19 STATE OF GEORGIA OFFICE BUILDINGS SVN | Interstate Brokers|Page 5The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and

completeness. All SVN® offices are independently owned and operated.

PORTFOLIO SALE 100% LEASED 19 STATE OF GEORGIA OFFICE BUILDINGS SVN | Interstate Brokers|Page 4The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your

responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.

STATE OF GEORGIA OFFICE PORTFOLIO INVESTMENT

LEASE ABSTRACT

Tenant: Subtenant: Landlord: Premises: Term: Rent: Renewal:

State Properties Commission, a commission within the State Government of Georgia.

Department of Human Services – Division of Family & Children Services, a departmentwithin the State Government of Georgia.

Watts and Colwell Builders, Inc., a Georgia corporation.

Square foot measurement varies (Article II section 1.).

One fiscal year July to the following June (Article III section 1.).

Varies (Article II section 3.).

Up to four one year renewal options with 45 days’ notice (Article III section 4.). Renewal Rate: May be fixed or escalating (Article III section 5.). Taxes: Paid by landlord (Article V section 5.). Utilities: Paid by tenant (Article VI section 1.b.). Janitorial: Paid by tenant (Article VI section 2.b.). Dumpster: Paid by tenant. Repairs: 100% paid by landlord (Article VII section 2.). Insurance: Casualty and liability paid by landlord (Article VIII section 1.). Insurance: Contents and liability paid by tenant (Article VIII section 2.).

PORTFOLIO SALE 100% LEASED 19 STATE OF GEORGIA OFFICE BUILDINGS SVN | Interstate Brokers|Page 6The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your

responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.

STATE OF GEORGIA OFFICE PORTFOLIO INVESTMENT

Property #1

Address: 101 Sunset Boulevard, Newton, GA 39870 County: Baker Lease ID: 3706 Year Built: 1982 Building Size: 3,467 SF Parcel Size: 1.92 acres

Projected

2016 2017 2018 2019

Income Scheduled Rent $38,781.12 $38,781.12 $38,781.12 $38,781.12

Rent Increase Settle Up $0.00 $0.00 $0.00 $0.00

$38,781.12 $38,781.12 $38,781.12 $38,781.12

Expense Insurance $740.15 $736.00 $552.00 $563.04

Miscellaneous Other $0.00 $0.00 $0.00 $0.00

Property Taxes $2,400.90 $2,606.30 $2,658.43

Repairs & Maintenance $714.93 $1,032.95 $3,462.37 $3,531.62

Management 4% $1,551.24 $1,551.24 $1,551.24 $1,551.24

Reserves $.50 SF $0.00 $0.00 $0.00 $1,733.50

Total Expense $5,407.22 $3,320.19 $8,171.91 $10,037.83

Net Operating Income $33,373.90 $35,460.93 $30,609.21 $28,743.29

Notes: 2019 expenses projected to increase 2% annually from 2018 actuals.

PORTFOLIO SALE 100% LEASED 19 STATE OF GEORGIA OFFICE BUILDINGS SVN | Interstate Brokers|Page 7The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your

responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.

STATE OF GEORGIA OFFICE PORTFOLIO INVESTMENT

Property # 2

Address: 750 South Leroy Street, Metter, GA 30439 County: Candler Lease ID: 4271 Year Built: 1987 Building Size: 6,566 SF Parcel Size: 0.73 acres Improvements: 2018 HVAC replaced.

Projected

2016 2017 2018 2019

Income Scheduled Rent $72,867.00 $75,745.32 $75,745.32 $75,745.32

Rent Increase Settle Up $0.00 $3,193.93 $1,320.06 $0.00

$72,867.00 $78,939.25 $77,065.38 $75,745.32

Expense Insurance $1,181.90 $1,208.00 $906.00 $924.12

Miscellaneous Other $0.00 $0.00 $0.00 $0.00

Property Taxes $6,980.66 $7,904.92 $9,481.12 $9,670.74

Repairs & Maintenance $217.32 $9,286.89 $8,431.48 $8,600.11

Management 4% $2,914.68 $3,157.57 $3,082.62 $3,029.81

Reserves $.50 SF $0.00 $0.00 $0.00 $3,328.00

Total Expense $11,294.56 $21,557.38 $21,901.22 $25,552.78

Net Operating Income $61,572.44 $57,381.87 $55,164.16 $50,192.54

Notes: 2019 expenses projected to increase 2% annually from 2018 actuals.

PORTFOLIO SALE 100% LEASED 19 STATE OF GEORGIA OFFICE BUILDINGS SVN | Interstate Brokers|Page 8The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your

responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.

STATE OF GEORGIA OFFICE PORTFOLIO INVESTMENT

Property # 3

Address: 360 N Dugger Ave, Roberta, GA 31078 County: Crawford Lease ID: 3600 Year Built: 1987 Building Size: 6,691 SF Parcel Size: 0.89 acres Improvements: 2017 replaced HVAC. 2018 new carpet.

Projected

2016 2017 2018 2019

Income Scheduled Rent $72,501.24 $73,572.60 $73,572.60 $73,572.60

Rent Increase Settle Up $0.00 $0.00 $0.00 $0.00

$72,501.24 $73,572.60 $73,572.60 $73,572.60

Expense Insurance $1,203.65 $1,034.00 $1,023.00 $1,043.46

Miscellaneous Other $0.00 $0.00 $241.13 $245.95

Property Taxes $6,647.52 $7,275.18 $6,971.09 $7,110.51

Repairs & Maintenance $286.17 $13,636.28 $4,307.55 $4,393.70

Management 4% $2,900.05 $2,942.90 $2,942.90 $2,942.90

Reserves $.50 SF $0.00 $0.00 $0.00 $3,345.50

Total Expense $11,037.39 $24,888.36 $15,485.67 $19,082.03

Net Operating Income $61,463.85 $48,684.24 $58,086.93 $54,490.57

Notes: 2019 expenses projected to increase 2% annually from 2018 actuals.

PORTFOLIO SALE 100% LEASED 19 STATE OF GEORGIA OFFICE BUILDINGS SVN | Interstate Brokers|Page 9The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your

responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.

STATE OF GEORGIA OFFICE PORTFOLIO INVESTMENT

Property # 4

Address: 134 N College Street, Hamilton, GA 31811 County: Harris Lease ID: 3590 Year Built: Building Size:

1988

5,314 SF Parcel Size: 1.07 Improvements: 2017 HVAC repairs.

Projected

2016 2017 2018 2019

Income Scheduled Rent $71,792.16 $71,792.16 $71,792.16 $71,792.16

Rent Increase Settle Up $2,603.65 $2,603.65 $956.40 $0.00

$74,395.81 $74,395.81 $72,748.56 $72,748.56

Expense Insurance $1,106.15 $1,124.00 $843.00 $859.86

Miscellaneous Other $0.00 $0.00 $109.39 $111.58

Property Taxes $5,624.97 $3,942.68 $5,245.40 $5,350.31

Repairs & Maintenance $13,633.73 $14,590.76 $18,537.69 $18,908.44

Management 4% $2,975.83 $2,975.83 $2,909.94 $2,909.94

Reserves $.50 SF $0.00 $0.00 $0.00 $2,657.00

Total Expense $23,340.68 $22,633.27 $27,645.42 $30,797.13

Net Operating Income $51,055.13 $51,762.54 $45,103.14 $41,951.43

Notes: 2019 expenses projected to increase 2% annually from 2018 actuals.

PORTFOLIO SALE 100% LEASED 19 STATE OF GEORGIA OFFICE BUILDINGS SVN | Interstate Brokers|Page 10The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your

responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.

STATE OF GEORGIA OFFICE PORTFOLIO INVESTMENT

Property # 5

Address: 2459 US Hwy 1 North, Louisville, GA 30434 County: Jefferson Lease ID: 3590 Year Built: 1985 Building Size: 6,324 SF Parcel Size: 1.5 acres Improvements: 2017 HVAC repairs.

Projected

2016 2017 2018 2019

Income Scheduled Rent $57,835.08 $57,835.08 $57,835.08 $57,835.08

Rent Increase Settle Up $0.00 $0.00 $0.00 $0.00

$57,835.08 $57,835.08 $57,835.08 $57,835.08

Expense Insurance $1,174.15 $1,200.00 $900.00 $918.00

Miscellaneous Other $0.00 $0.00 $0.00 $0.00

Property Taxes $3,725.98 $4,000.53 $3,887.73 $3,965.48

Repairs & Maintenance $16,223.82 $9,738.83 $1,332.26 $1,358.91

Management 4% $2,313.40 $2,313.40 $2,313.40 $2,313.40

Reserves $.50 SF $0.00 $0.00 $0.00 $3,162.00

Total Expense $23,437.35 $17,252.76 $8,433.39 $11,717.79

Net Operating Income $34,397.73 $40,582.32 $49,401.69 $46,117.29

Notes: 2019 expenses projected to increase 2% annually from 2018 actuals.

PORTFOLIO SALE 100% LEASED 19 STATE OF GEORGIA OFFICE BUILDINGS SVN | Interstate Brokers|Page 11The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your

responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.

STATE OF GEORGIA OFFICE PORTFOLIO INVESTMENT

Property # 6

Address: 618 South Gray Street, Millen, GA 30442 County: Jenkins Lease ID: 3707 Year Built: 1987 Building Size: 5,310 SF Parcel Size: 2.59 acres

Projected

2016 2017 2018 2019

Income Scheduled Rent $57,111.73 $57,205.20 $59,472.00 $59,472.00

Rent Increase Settle Up $0.00 $0.00 $1,133.40 $0.00

$57,111.73 $57,205.20 $60,605.40 $59,472.00

Expense Insurance $975.40 $988.00 $741.00 $755.82

Miscellaneous Other $0.00 $0.00 $83.66 $85.33

Property Taxes $2,848.73 $2,913.73 $3,275.13 $3,340.63

Repairs & Maintenance $380.17 $334.71 $2,068.05 $2,109.41

Management 4% $2,284.47 $2,288.21 $2,424.22 $2,378.88

Reserves $.50 SF $0.00 $0.00 $0.00 $2,655.00

Total Expense $6,488.77 $6,524.65 $8,592.06 $11,325.08

Net Operating Income $50,622.96 $50,680.55 $52,013.34 $48,146.92

Notes: 2019 expenses projected to increase 2% annually from 2018 actuals.

PORTFOLIO SALE 100% LEASED 19 STATE OF GEORGIA OFFICE BUILDINGS SVN | Interstate Brokers|Page 12The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your

responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.

STATE OF GEORGIA OFFICE PORTFOLIO INVESTMENT

Property # 7

Address: 729 West Court Street, Wrightsville, GA 31096 County: Johnson Lease ID: 3602 Year Built: 1981 Building Size: 5,258 SF Parcel Size: 1.95 acres

Projected

2016 2017 2018 2019

Income Scheduled Rent $55,489.20 $55,489.20 $57,680.28 $57,680.28

Rent Increase Settle Up $0.00 $0.00 $1,095.52 $0.00

$55,489.20 $55,489.20 $58,775.80 $57,680.28

Expense Insurance $938.65 $948.00 $711.00 $725.22

Miscellaneous Other $0.00 $0.00 $0.00 $0.00

Property Taxes $4,841.36 $5,152.04 $6,519.39 $6,649.78

Repairs & Maintenance $206.43 $5,435.35 $2,616.45 $2,668.78

Management 4% $2,219.57 $2,219.57 $2,351.03 $2,307.21

Reserves $.50 SF $0.00 $0.00 $0.00 $2,655.00

Total Expense $8,206.01 $13,754.96 $12,197.87 $15,005.99

Net Operating Income $47,283.19 $41,734.24 $46,577.93 $42,674.29

Notes: 2019 expenses projected to increase 2% annually from 2018 actuals.

PORTFOLIO SALE 100% LEASED 19 STATE OF GEORGIA OFFICE BUILDINGS SVN | Interstate Brokers|Page 13The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your

responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.

STATE OF GEORGIA OFFICE PORTFOLIO INVESTMENT

Property # 8

Address: 141 James Street, Gray, GA 31032 County: Jones Lease ID: 5091 Year Built: 1987 Building Size: 7,500 SF Parcel Size: 1.76 Improvements: 2018 5 ton HVAC unit replaced.

Projected

2016 2017 2018 2019

Income Scheduled Rent $88,740.00 $88,740.00 $88,740.00 $88,740.00

Rent Increase Settle Up $0.00 $0.00 $0.00 $0.00

$88,740.00 $88,740.00 $88,740.00 $88,740.00

Expense Insurance $1,182.65 $1,208.00 $906.00 $924.12

Miscellaneous Other $0.00 $0.00 $7.44 $7.59

Property Taxes $12,960.35 $10,337.19 $13,104.01 $13,366.09

Repairs & Maintenance $1,354.48 $754.36 $9,717.94 $9,912.30

Management 4% $3,549.60 $3,549.60 $3,549.60 $3,549.60

Reserves $.50 SF $0.00 $0.00 $0.00 $3,750.00

Total Expense $19,047.08 $15,849.15 $27,284.99 $31,509.70

Net Operating Income $69,692.92 $72,890.85 $61,455.01 $57,230.30

Notes: 2019 expenses projected to increase 2% annually from 2018 actuals.

PORTFOLIO SALE 100% LEASED 19 STATE OF GEORGIA OFFICE BUILDINGS SVN | Interstate Brokers|Page 14The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your

responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.

STATE OF GEORGIA OFFICE PORTFOLIO INVESTMENT

Property #9

Address: 122 Westgate Plaza, Barnesville, GA 30204

County: Lamar Lease ID: 5035 Year Built: 1995 Building Size: 7,500 SF Parcel Size: 1.57 acres Improvements: 2017 new paint and carpet.

Lamar Projected

2016 2017 2018 2019

Income Scheduled Rent $72,150.00 $72,150.00 $72,930.00 $79,560.00

Rent Increase Settle Up $5,850.00 $0.00 $0.00 $0.00

$78,000.00 $72,150.00 $72,930.00 $79,560.00

Expense Insurance $1,585.15 $1,622.00 $1,215.00 $1,239.30

Miscellaneous Other $0.00 $0.00 $0.00 $0.00

Property Taxes $7,577.66 $7,565.73 $9,173.63 $9,357.10

Repairs & Maintenance $7,547.69 $28,908.34 $2,214.31 $2,258.60

Management 4% $3,120.00 $2,886.00 $2,917.20 $3,182.40

Reserves $.50 SF $0.00 $0.00 $0.00 $3,750.00

Total Expense $19,830.50 $40,982.07 $15,520.14 $19,787.40

Net Operating Income $58,169.50 $31,167.93 $57,409.86 $59,772.60

Notes: 2019 expenses projected to increase 2% annually from 2018 actuals.

PORTFOLIO SALE 100% LEASED 19 STATE OF GEORGIA OFFICE BUILDINGS SVN | Interstate Brokers|Page 15The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your

responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.

STATE OF GEORGIA OFFICE PORTFOLIO INVESTMENT

Property # 10

Address: 904 Claxton Dairy Road #1, Dublin, GA 31021 County: Laurens Lease ID: 4341 Year Built: 1990 Building Size: 30,500 SF (27,647 SF & 733 SF) Parcel Size: 5.0 acres

Projected

2016 2017 2018 2019

Income Scheduled Rent $330,619.92 $330,619.92 $330,619.92 $330,619.92

Rent Increase Settle Up $4,090.98 $7,982.76 $11,207.51 $0.00

$334,710.90 $338,602.68 $341,827.43 $330,619.92

Expense Insurance $5,383.35 $5,664.00 $1,416.00 $1,444.32

Miscellaneous Other $0.00 $0.00 $2,009.64 $2,049.83

Property Taxes $27,018.89 $25,710.95 $26,077.91 $26,599.47

Repairs & Maintenance $15,592.82 $19,502.97 $12,862.28 $13,119.53

Management 4% $13,388.44 $13,544.11 $13,673.10 $13,224.80

Reserves $.50 SF $0.00 $0.00 $0.00 $15,250.00

Total Expense $61,383.50 $64,422.03 $56,038.93 $71,687.94

Net Operating Income $273,327.40 $274,180.65 $285,788.50 $258,931.98

Notes: 2019 expenses projected to increase 2% annually from 2018 actuals.

PORTFOLIO SALE 100% LEASED 19 STATE OF GEORGIA OFFICE BUILDINGS SVN | Interstate Brokers|Page 16The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your

responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.

STATE OF GEORGIA OFFICE PORTFOLIO INVESTMENT

Property #11

Address: 413 Clifton Bradley Dr, Oglethorpe, GA 31068 County: Macon Lease ID: 3601 Year Built: Building Size: 6,324 SF Parcel Size: Improvements: 2018 plumbing replaced.

Projected

2016 2017 2018 2019

Income Scheduled Rent $57,570.48 $57,570.48 $57,570.48 $57,570.48

Rent Increase Settle Up $0.00 $0.00 $0.00 $0.00

$57,570.48 $57,570.48 $57,570.48 $57,570.48

Expense Insurance $1,174.40 $1,200.00 $900.00 $918.00

Miscellaneous Other $0.00 $0.00 $121.49 $123.92

Property Taxes $3,983.41 $3,970.95 $4,111.72 $4,193.95

Repairs & Maintenance $1,008.92 $483.56 $8,277.09 $8,442.63

Management 4% $2,302.82 $2,302.82 $2,302.82 $2,302.82

Reserves $.50 SF $0.00 $0.00 $0.00 $3,162.00

Total Expense $8,469.55 $7,957.33 $15,713.12 $19,143.33

Net Operating Income $49,100.93 $49,613.15 $41,857.36 $38,427.15

Notes: 2019 expenses projected to increase 2% annually from 2018 actuals.

PORTFOLIO SALE 100% LEASED 19 STATE OF GEORGIA OFFICE BUILDINGS SVN | Interstate Brokers|Page 17The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your

responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.

STATE OF GEORGIA OFFICE PORTFOLIO INVESTMENT

Property # 12

Address: 107 Martin Luther King Jr Dr, Forsyth, GA 31029 County: Monroe Lease ID: 3860 Year Built: 1990 Building Size: 5,314 SF Parcel Size: 1.43 acres Projected

2016 2017 2018 2019

Income Scheduled Rent $60,000.00 $60,000.00 $60,000.00 $61,200.00

Rent Increase Settle Up $0.00 $0.00 $0.00 $0.00

$60,000.00 $60,000.00 $60,000.00 $61,200.00

Expense Insurance $1,076.90 $1,072.00 $804.00 $820.08

Miscellaneous Other $0.00 $0.00 $179.41 $183.00

Property Taxes $3,471.10 $3,652.41 $4,356.08 $4,443.20

Repairs & Maintenance $1,494.76 $2,183.29 $1,537.61 $1,568.36

Management 4% $2,400.00 $2,400.00 $2,400.00 $2,448.00

Reserves $.50 SF $0.00 $0.00 $0.00 $2,657.00

Total Expense $8,442.76 $9,307.70 $9,277.10 $12,119.64

Net Operating Income $51,557.24 $50,692.30 $50,722.90 $49,080.36

Notes: 2019 expenses projected to increase 2% annually from 2018 actuals.

PORTFOLIO SALE 100% LEASED 19 STATE OF GEORGIA OFFICE BUILDINGS SVN | Interstate Brokers|Page 18The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your

responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.

STATE OF GEORGIA OFFICE PORTFOLIO INVESTMENT

Property # 13

Address: 621 Hendry Street, Blackshear, GA 31516 County: Pierce Lease ID: 3604 Year Built: 1986 Building Size: 4,324 SF Parcel Size: 1.0 acres Improvements: 2018 5 ton heat pump replaced.

Projected

2016 2017 2018 2019

Income Scheduled Rent $48,011.04 $48,011.04 $48,011.04 $48,011.04

Rent Increase Settle Up $0.00 $0.00 $0.00 $0.00

$48,011.04 $48,011.04 $48,011.04 $48,011.04

Expense Insurance $835.65 $840.00 $630.00 $642.60

Miscellaneous Other $0.00 $0.00 $0.00 $0.00

Property Taxes $5,305.45 $5,336.26 $6,151.14 $6,274.16

Repairs & Maintenance $1,505.63 $2,785.62 $6,441.01 $6,569.83

Management 4% $1,920.44 $1,920.44 $1,920.44 $1,920.44

Reserves $.50 SF $0.00 $0.00 $0.00 $2,162.00

Total Expense $9,567.17 $10,882.32 $15,142.60 $17,569.04

Net Operating Income $38,443.87 $37,128.72 $32,868.44 $30,442.00

Notes: 2019 expenses projected to increase 2% annually from 2018 actuals.

PORTFOLIO SALE 100% LEASED 19 STATE OF GEORGIA OFFICE BUILDINGS SVN | Interstate Brokers|Page 19The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your

responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.

STATE OF GEORGIA OFFICE PORTFOLIO INVESTMENT

Property # 14

Address: 606 Highway 19 South, Zebulon, GA 30295 County: Pike Lease ID: 4170 Year Built: 1980 Building Size: 7,125 SF Parcel Size: 2.58 acres Improvements:

Projected

2017 new paint and carpet.

2016 2017 2018 2019

Income Scheduled Rent $71,933.76 $71,933.76 $73,372.44 $73,372.45

Rent Increase Settle Up $0.00 $0.00 $979.56 $0.00

$71,933.76 $71,933.76 $74,352.00 $73,372.45

Expense Insurance $1,128.65 $1,148.00 $861.00 $878.22

Miscellaneous Other $0.00 $0.00 $0.00 $0.00

Property Taxes $21,020.13 $1,218.20 $5,393.95 $5,501.83

Repairs & Maintenance $6,488.83 $29,387.26 $1,403.67 $1,431.74

Management 4% $2,877.35 $2,877.35 $2,974.08 $2,934.90

Reserves $.50 SF $0.00 $0.00 $0.00 $3,562.50

Total Expense $31,514.96 $34,630.81 $10,632.70 $14,309.19

Net Operating Income $40,418.80 $37,302.95 $63,719.30 $59,063.26

Notes: 2019 expenses projected to increase 2% annually from 2018 actuals.

PORTFOLIO SALE 100% LEASED 19 STATE OF GEORGIA OFFICE BUILDINGS SVN | Interstate Brokers|Page 20The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your

responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.

STATE OF GEORGIA OFFICE PORTFOLIO INVESTMENT

Property # 15

Address: 675 Godfrey Highway, Eatonton, GA 31024 County: Putnam Lease ID: 3599 Year Built: 1980 Building Size: 6,824 SF Parcel Size: 1.0 acres Improvements: 2018 evaporator coil replaced.

Putnam Projected

2016 2017 2018 2019

Income Scheduled Rent $69,276.24 $69,276.24 $69,276.24 $69,276.24

Rent Increase Settle Up $0.00 $0.00 $0.00 $0.00

$69,276.24 $69,276.24 $69,276.24 $69,276.24

Expense Insurance $1,180.45 $1,180.00 $885.00 $902.70

Miscellaneous Other $0.00 $0.00 $0.00 $0.00

Property Taxes $4,298.71 $4,138.64 $4,580.15 $4,671.75

Repairs & Maintenance $3,559.17 $1,700.41 $3,800.14 $3,876.14

Management 4% $2,771.05 $2,771.05 $2,771.05 $2,771.05

Reserves $.50 SF $0.00 $0.00 $0.00 $3,412.00

Total Expense $11,809.38 $9,790.10 $12,036.34 $15,633.65

Net Operating Income $57,466.86 $59,486.14 $57,239.90 $53,642.59

Notes: 2019 expenses projected to increase 2% annually from 2018 actuals.

PORTFOLIO SALE 100% LEASED 19 STATE OF GEORGIA OFFICE BUILDINGS SVN | Interstate Brokers|Page 21The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your

responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.

STATE OF GEORGIA OFFICE PORTFOLIO INVESTMENT

Property # 16

Address: 502 East Broad Street, Lumpkin, GA 31815 County: Stewart Lease ID: 3581 Year Built: 1986 Building Size: 3,391 SF Parcel Size: 0.73 acres Stewart Projected

2016 2017 2018 2019

Income Scheduled Rent $36,228.12 $36,228.12 $36,228.12 $36,228.12

Rent Increase Settle Up $0.00 $0.00 $0.00 $0.00

$36,228.12 $36,228.12 $36,228.12 $36,228.12

Expense Insurance $756.15 $752.00 $564.00 $575.28

Miscellaneous Other $0.00 $0.00 $0.00 $0.00

Property Taxes $3,360.45 $2,240.56 $2,443.89 $2,492.77

Repairs & Maintenance $997.62 $374.87 $783.41 $799.08

Management 4% $1,449.12 $1,449.12 $1,449.12 $1,449.12

Reserves $.50 SF $0.00 $0.00 $0.00 $1,695.50

Total Expense $6,563.34 $4,816.55 $5,240.42 $7,011.75

Net Operating Income $29,664.78 $31,411.57 $30,987.70 $29,216.37

Notes: 2019 expenses projected to increase 2% annually from 2018 actuals.

PORTFOLIO SALE 100% LEASED 19 STATE OF GEORGIA OFFICE BUILDINGS SVN | Interstate Brokers|Page 22The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your

responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.

STATE OF GEORGIA OFFICE PORTFOLIO INVESTMENT

Property # 17

Address: 356 Jordan City Road, Talbotton, GA 31827 County: Talbott Lease ID: 5162 Year Built: 1982 Building Size: 4,705 SF Parcel Size: 1.92 acres Improvements: 2018 replace 4 ton & 5 ton exterior only of split units.

Talbot Projected

2016 2017 2018 2019

Income Scheduled Rent $41,397.36 $41,397.36 $41,880.36 $42,225.36

Rent Increase Settle Up $0.00 $0.00 $0.00 $0.00

$41,397.36 $41,397.36 $41,880.36 $42,225.36

Expense Insurance $938.15 $944.00 $708.00 $722.16

Miscellaneous Other $0.00 $0.00 $0.00 $0.00

Property Taxes $5,463.82 $7,827.34 $7,983.89

Repairs & Maintenance $830.30 $993.90 $4,616.87 $4,709.21

Management 4% $1,655.89 $1,655.89 $1,675.21 $1,689.01

Reserves $.50 SF $0.00 $0.00 $0.00 $2,352.50

Total Expense $8,888.16 $3,593.79 $14,827.42 $17,456.77

Net Operating Income $32,509.20 $37,803.57 $27,052.94 $24,768.59

Notes: 2019 expenses projected to increase 2% annually from 2018 actuals.

PORTFOLIO SALE 100% LEASED 19 STATE OF GEORGIA OFFICE BUILDINGS SVN | Interstate Brokers|Page 23The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your

responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.

STATE OF GEORGIA OFFICE PORTFOLIO INVESTMENT

Property #18

Address: 310 East Brewton St, McRae-Helena, GA 31055 County: Telfair Lease ID: 3603 Year Built: 1985 Building Size: 6,191 SF Parcel Size: 1.01 acres Improvements: 2018 replaced 5 ton unit.

Projected

2016 2017 2018 2019

Income Scheduled Rent $64,118.94 $65,066.52 $65,066.52 $65,066.52

Rent Increase Settle Up $0.00 $0.00 $0.00 $0.00

$64,118.94 $65,066.52 $65,066.52 $65,066.52

Expense Insurance $1,018.65 $1,024.00 $768.00 $783.36

Miscellaneous Other $0.00 $0.00 $0.00 $0.00

Property Taxes $3,960.86 $2,954.88 $4,374.04 $4,461.52

Repairs & Maintenance $11,399.42 $1,387.15 $8,108.19 $8,270.35

Management 4% $2,564.76 $2,602.66 $2,602.66 $2,602.66

Reserves $.50 SF $0.00 $0.00 $0.00 $3,095.50

Total Expense $18,943.69 $7,968.69 $15,852.89 $19,213.40

Net Operating Income $45,175.25 $57,097.83 $49,213.63 $45,853.12

Notes: 2019 expenses projected to increase 2% annually from 2018 actuals.

PORTFOLIO SALE 100% LEASED 19 STATE OF GEORGIA OFFICE BUILDINGS SVN | Interstate Brokers|Page 24The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your

responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.

STATE OF GEORGIA OFFICE PORTFOLIO INVESTMENT

Property # 19

Address: 312 Third Avenue, Alamo, GA 30411 (aka 44 Third Avenue) County: Wheeler Lease ID: 3862 Year Built: 1988 Building Size: 4,822 SF Parcel Size: 1.01 acres

Projected

2016 2017 2018 2019

Income Scheduled Rent $45,226.56 $45,226.56 $45,226.56 $45,226.56

Rent Increase Settle Up $0.00 $0.00 $0.00 $0.00

$45,226.56 $45,226.56 $45,226.56 $45,226.56

Expense Insurance $945.15 $952.00 $714.00 $728.28

Miscellaneous Other $0.00 $0.00 $0.00 $0.00

Property Taxes $3,383.27 $2,980.73 $586.70 $598.43

Repairs & Maintenance $2,942.84 $1,858.30 $402.41 $410.46

Management 4% $1,809.06 $1,809.06 $1,809.06 $1,809.06

Reserves $.50 SF $0.00 $0.00 $0.00 $2,411.00

Total Expense $9,080.32 $7,600.09 $3,512.17 $5,957.23

Net Operating Income $36,146.24 $37,626.47 $41,714.39 $39,269.33

Notes: 2019 expenses projected to increase 2% annually from 2018 actuals.