1. VISION | INNOVATION | STRATAGEY | SUCCESSCBRE LAND SERVICES GROUPNEW MEXICO: : Michael Schiffer : : Trevor Hatchell : : Amanda Velarde First Vice President First Vice President Client Svs Specialist 505.837.4913 505.837.4922 505.837.4920 michael.schiffer@cbre.com trevor.hatchell@cbre.com amanda.velarde@cbre.com

2. CBRE LAND SERVICES GROUP - NEW MEXICOThe CBRE Land Services Group of New Mexico brings together localmarket knowledge and national scope to serve the needs of investors C A PA B I L I T I ESand developers in the New Mexico market. The team providestheir clients with a competitive advantage by capitalizing on market :: Market analysis & feasibilityconditions to produce the best possible outcome on every project. studiesThe Land Services Group is a national network of experienced :: Property acquisitions &professionals focused exclusively on land transactions. dispositionsThe team provides a comprehensive ability to evaluate the highest :: Strategic site selectionand best use of a particular land parcel. They are considered expertsin the market due to their extensive experience and success in the :: Financial AnalysisNew Mexico land market. Their comprehensive market knowledge, :: Financing/equity sourcesnumerous relationships within the New Mexico business community :: Economic, demographic &and unparalleled strategic approach allows this team to hold a mapping servicesdominant market share of listings and completed transactions. :: Market trends & forecastsThe team is tightly integrated across CBRE service lines including :: Portfolio acquisitions &Capital Markets, Global Corporate Services, Asset Services, Valuationand Consulting and CBRE Research. This integration allows the team dispositionsto provide a broad spectrum of comprehensive real estate services to :: Development consultingtheir clients. The CBRE Land Services Group provides the corporate :: Highest & best-use studiesresources, client support and brokerage expertise necessary to satisfythe needs of every land owner, investor, developer and user. Our :: Appraisal reviewsmission is the accelerate the success of our clients through superior :: Arbitration & consultationmarket knowledge, industry-leading technology and a global realestate perspective.TE A M STRUCTU RE Michael Schiffer First Vice President | CBRE Land Services Group With over 25 years of land services experience in the New Mexico market, Michael Schiffer is the senior broker on the New Mexico Land Services team. He brings extensive market knowledge, countless local and national relationships and a track record of success. Trevor Hatchell First Vice President | CBRE Land Services Group Trevor Hatchel has over 18 years of commercial real estate experience and his primary focus is land transactions. Trevor has been involved in a variety of land transactions and has extensive knowledge on the New Mexico land market and all the factors that can inuence a land transaction. Amanda Velarde Client Services Specialist | CBRE Land Services Group Amanda Velarde is responsible for providing sophisticated support for the team and client at every level of the disposition process. Amanda has extensive experience in commercial real estate and land services and consistently leverages the CBRE platform of services to ensure each project has the full benets of CBREs resources.

3. CBRE LAND SERVICES GROUP - NEW MEXICOSIGN I FI CANT A SSI GNM EN T SRANCH & FARM: MEDICAL/HOSPITAL::: Huning Ranch (Valencia County) 5,000 acres :: Presbyterian Healthcare Services:: London Land Holdings (Valencia County) 21,800 acre :: Rust Medical Center (Rio Rancho) 60 acres:: Comanche Ranch (Valencia County) -100,000 acres :: Interstate 40 & Unser (NW Mesa) 40 acres:: Midway Ranch (Valencia County) -1,840 acres :: Las Solaris & Bruckner Rd. (Santa Fe) 40 acres:: Carlito Springs (Bernalillo County) 178 acres :: Albuquerque Ambulance (North I-25 Corridor) 5 acres :: Rio Bravo & Coors (SW Mesa) 12 acresMASTER PLANNED COMMUNITIES: :: Northern NM Regional Hospital :: Las Vegas, NM (Mora County 52 acres:: Mesa del Sol 12,900 acres (client since 2004):: Sun Ranch - Rancho Cielo (Belen) - 7,000 acres:: Ventana Ranch (NW Mesa) 940 acres MIXED USE:: Ventana West (NW Mesa) 340 acre (OFFICE/RETAIL/MULTI-FAMILY/ASSISTED LIVING::: Seven Bar Ranch (NW Mesa) 450 acres:: Grevey-Liberman Holdings (Placitas) 1,650 acres :: North Andaluca at La Luz (NW Corridor)- 50 acres:: Baptist Foundation of Arizona (Mora County) -1,400 acre :: Wal-Mart 11 acre :: Multi-Family 15 acre :: Ofce 3.5 acresBUSINESS PARKS :: Santa Monica Place Assisted Living (NE Heights):: Innovation Park @ Mesa del Sol - 1400 acres 12 acres TITAN :: Albuquerque Studios 26 acres :: West Bluff Center (NW Mesa) :: Schott Solar 30 acres 35 acres of multiple owners :: Fidelity Investments 150,000 sqft Build-to-Suit :: Wal-Mart Existing Expansion (NE Heights) 14 acres :: DEA (Drug Enforcement Agency) GSA 5 acres :: ICE (Homeland Security) GSA 8 acres MISCELLANEOUS::: Journal Center (North I-25 Corridor) 178 acres :: I-25 Studios formerly Phillips Semiconductor (North I-25 :: Campus Business Park - 1 to 8 acre tracts multiple Corridor) - 60 acres + 350,000 sqft existing structure tenants :: Rio Rancho Country Club & Golf Course (Rio Rancho) :: Presbyterian Healthcare Services Corporate 27 hole + Facilities Headquarters & Campus (North I-25) :: La Farge Sand & Gravel (Placitas) - 840 acres 38 acres; 143,000 sqft bldg :: Archdioceses of Santa Fe (NW Mesa) 40 acres:: Huning Ranch Business Park (Valencia Cty) 850 acres :: Bank of Oklahoma (North Valley) 27 acres:: Alameda Business Park (North I-25 Corridor) 66 acres :: Key Bank (SW Mesa) 176 lots:: NM Business Teach Center (Rio Ranch) 26 acres:: University of NM (Airport) 55 acres:: CitiCorp (North I-25 Corridor) 33 acres:: Southwest Regional Council of Carpenters NM HQ (North I-25 Corridor) OUR TEAM COMPLETES MORE LAND TRANSACTIONS THAN ANY OTHER TEAM IN THE NEW MEXICO MARKET. OVER $112 MILLION OF TOTAL CONSIDERATION IN DEALS CLOSED FROM 2007-2011

4. CBRE LAND SERVICES GROUP - NEW MEXICOW H Y CB RE?CBRE, Inc. is the nations oldest commercial real estate services rm.Headquartered in Los Angeles, the company is also the worlds largestreal estate services provider. S ER VI C ESCBRE revenue is three times the size of our nearest competitor :: Brokerage Servicesand has the number one market share position in nearly all theworlds top 25 markets. :: Land :: OfceCBRE possesses the most comprehensive service offering, broadestgeographic reach, sharpest market intelligence and brightest talent in :: Industrialthe industry. The company offers expertise in land, ofce, industrial, :: Retailretail and investment properties in virtually every industry around the :: Global Corporate Servicesglobe. :: Asset ServicesRather than merely being bigger than its competitors, CBRE strives to :: Investment Managementprovide superior services to its clients so that they receive quality andconsistency of service delivery across the globe. While setting a new :: Financing/equity sourcesperformance benchmark for the industry. CBRE offers a complete :: Research & Consultingspectrum of business services to its clients offered under the major :: Valuation & Advisorybusiness groupings of Brokerage Services, Global Corporate Services,Financial Services , and Asset Services. Specic service lines include :: Facilities Managementtenant representation and agency brokerage, investment properties, :: Project Managementconsulting, valuation and advisory, debt and equity nancing and :: Capital Marketsinvestment management, among others.CBRE is the rst and only real estate services rm with a platform todeliver integrated real estate services - through one commonly owned,commonly managed company - across the worlds major businesscapitals.In every ofce around the world, our professionals do far more thanmanage our clients real estate. We listen to the individual needs ofevery client. We offer creative solutions that make sense for the situationat hand. We pay attention to the local, national and global markets tohelp steer our clients in the right direction. CB RE B RO K ER AG E S T R EN GT H S TOTAL TRANSACTION VALUE $128.1 BILLION PROPERTY SALES: 12,675 TRANSACTIONS - $65.3 BILLION PROPERTY LEASING: 47,600 TRANSACTIONS - $62.8 BILLION

5. PROFESSIONAL PROFILE Michael Schiffer began his career with CBRE in 1986 and has over 25 years of commercial real estate experience specializing exclusively in land services. He is the senior broker for the Albuquerque Land Services Group. The CBRE Land Services Group is a global network of experienced professionals who are completely focused on meeting the real estate needs of commercial land owners and users. Michaels experience in land services allows him to accelerate his clients success through unmatched market intelligence, countless relationships within the community and an innovative approach to every project. Michael understands the importance of leveraging the market leading CBRE platform to provide a comprehensive strategy which will result in the most lucrative solutions for his clients. His extensive experience allows him to foresee the many factors whichMICHAEL SCHIFFER influence a transaction in order to ensure that a dynamic solution is always in place to keep the transaction moving forward. Michaels immense understanding of landFirst Vice President values and site selection criteria gives his clients complete information about theT: 505.837.4913 market and emerging trends to ensure that they are making an informed decision.F: 505.837.4994michael.schiffer@cbre.com During his impressive career, Michael has been involved in land sales ranging from small individually owned properties to large corporate-owned properties. In additionCLIENTS REPRESENTED Michael has extensive experience working with master planned communities and Forest City Enterprises business parks. He has represented some of the most respected landowners and most prestigious projects in New Mexico. Titan Development Presbyterian SIGNIFICANT ASSIGNMENTS Healhcare Services Client/Property Project Size Location Huning Family Trust Innovation Park @ Mesa del Sol 1,400 Acres Albuquerque, NM GSA Journal Center 178 Acres Albuquerque, NM Southwest Carpenters Presbyterian Headquarters 38 Acres Albuquerque, NM Union Presbyterian Rust Med Ctr 60 Acres Rio Rancho, NM Schott Solar Huning Ranch Business Park 10,000 Acres Valencia County, NM Albuquerque Studios Sun Ranch 7,000 Acres Belen, NM Journal Center Comanche Ranch 100,000 Acres Valencia County, NM Gravey-Liberman Holdings 1,650 Acres Placitas, NM North Andalucia at La Luz 50 Acres Albuquerque, NM Rio Rancho Country Club Golf Course Rio Rancho, NM PROFESSIONAL AFFILIATIONS/ACCREDITATIONS NAIOP (National Association of Industrial and Office Parks) CARNM ( Commercial Association of REALTORS New Mexico) National Association of REALTORSCBRE Centre | 6100 Uptown NE | Suite 300 | Albuquerque, NM 87110

6. PROFESSIONAL PROFILE Trevor Hatchell began his career with CBRE in 1994. He brings over 18 years of successful commercial real estate experience to the Albuquerque Land Services Group and specializes exclusively in land transactions. The CBRE Land Services Group is a global network of experienced professionals who are completely focused on meeting the real estate needs of commercial land owners and users. Trevors extensive market knowledge, strategic thinking, and emphasis on innovation accelerate each project he is working on to the next level. He consistently produces superior results for his clients. Trevors experience in a variety of land transactions combined with the market leading CBRE platform provides his clients with a comprehensive portfolio of services and support. He has a comprehensive understanding of the New Mexico land market andTREVOR HATCHELL all the internal and external factors that can influence a land transaction. Trevor isFirst Vice President also very familiar with the development process from the developer and userT: 505.837.4922 perspective and can provide valuable insight to avoid potential obstacles. He usesF: 505.837.4994 this extensive knowledge to fully evaluate property and development potential in order to guide his clients in making the most informed decision.trevor.hatchell@cbre.com Trevor has an impressive portfolio of achievements, including CBRE Top 5 ProducersCLIENTS REPRESENTED and the New Mexico Business Weeklys 40 Under 40 Power Broker. He places special Forest City Enterprises emphasis on building lasting relationships with his clients and the Albuquerque business community. His continuous networking endeavors allow him to stay informed Titan Development on market trends, market projections and emerging projects. Presbyterian Healhcare Services SIGNIFICANT ASSIGNMENTS Huning Family Trust Client/Property Project Size Location GSA Innovation Park @ Mesa del Sol 1,400 Acres Albuquerque, NM Southwest Carpenters Journal Center 178 Acres Albuquerque, NM Union Presbyterian Headquarters 38 Acres Albuquerque, NM Presbyterian Rust Med Ctr 60 Acres Rio Rancho, NM Schott Solar Albuquerque Studios Huning Ranch Business Park 1,000 Acres Valencia County, NM Journal Center Sun Ranch 7,000 Acres Belen, NM Comanche Ranch 100,000 Acres Valencia County, NM Gravey-Liberman Holdings 1,650 Acres Placitas, NM North Andalucia at La Luz 50 Acres Albuquerque, NM Rio Rancho Country Club Golf Course Rio Rancho, NM PROFESSIONAL AFFILIATIONS/ACCREDITATIONS CARNM ( Commercial Association of REALTORS New Mexico) National Association of REALTORS NM Home Builder AssociationCBRE Centre | 6100 Uptown NE | Suite 300 | Albuquerque, NM 87110

7. PROFESSIONAL PROFILE Amanda Velarde joined the New Mexico CBRE office in 2005. Amanda is responsible for providing sophisticated support for the Land Services team and their clients. She has extensive experience in the commercial real estate industry and has a comprehensive understanding of the Albuquerque land market. Amanda is an expert at leveraging the CBRE platform of services to ensure that each client and project has the full advantage of all the resources available. She provides support at every level of the transaction process to ensure that the strategic plans set forth are implemented and provide superior results for the client. Prior to joining CBRE Land Services Group Amanda was a property manager for fourteen years and managed properties including multi-family (500+units), industrial,AMANDA VELARDE retail and office. This experience translates into a strong project managementClient Services Specialist expertise, excellent customer services skills, leadership ability, negotiation experienceT: 505.837.4920 and a detailed understating of accounting and business finance.F: 505.837.4994amanda.velarde@cbre.com PROFESSIONAL AFFILIATIONS/ACCREDITATIONS New Mexico Real Estate LicensureClients RepresentedCapstone DevelopmentValeo Companies EDUCATION University of Phoenix, Bachelor of Science; Business Administration, major in communications University of Phoenix, Master of Science; Business AdministrationCBRE Centre | 6100 Uptown NE | Suite 300 | Albuquerque, NM 87110