RARE CRE Company Overview

CompanyOverview PRIVATE & CONFIDENTIAL

RARE CREWho We Are We will creatively structure, strategically market, and vigorously execute so that our clients always stand apart in a noisy marketplace. That is the differenceRARE CRE LLC (“RARE”) is a Florida-based Our Advantageboutique commercial real estate companythat provides Investment Sales and Differentiated Institutional ExperienceCapital Advisory services to property Our principals’ backgrounds in real estateowners, investors, and developers in the private equity, banking and technology bring anSoutheast U.S. experienced, yet differentiated perspective to CRE investment sales and capital advisory.We cater to the Commercial Real EstateEntrepreneur. Our clients vary in size and Hands-on and Personalized Serviceexperience yet share the same Our team is small, nimble and specialized.entrepreneurial spirit, and choose to work This allows us to deliver focused and highlywith skilled and like-minded advisors who personalized ‘white glove’ service that iscan provide personalized, creative, and unmatched by our competitors.high-touch services they won't find atlarger brokerage firms. Well Developed Off-Market Methods Originated through long-term relationshipsWe are also well known for and have a and deep research driven efforts to minimizedemonstrable track record of facilitating time wasting and over-exposure.off-market transactions for clients whoprefer a less publicized marketing Advanced Analytical Capabilitiesapproach. Deep research driven analysis, turn-key financial modeling, and sensitivity models empower pricing strategy, sales, and negotiations.PG / 2

RARE CREOur Founding TeamWe’re entrepreneurs ourselves; with professional experience gained from our ownreal estate and technology business ventures, as well as, from working at well-established wall street and regional real estate investment and banking firms. 42 6,300 $147M $1.2B 30+Commercial Residential Total Total Years Properties Units Equity Debt Experience Jamie Zambrana Nelson Garcia Managing Partner Managing Partner Head of Investment Sales Head of Capital Markets Origination Underwriting & Marketing Group Research Group GroupPG / 3

INVESTMENT SALES PLATFORMBOUTIQUE QUALITY SERVICE. POWERHOUSE CAPABILITIES.

RARE CREOur Value PropositionDifferentiated Hands On andInstitutional Experience Personalized ServiceOur principals’ backgrounds in real Our team is small, nimble andestate private equity, banking and specialized. This allows us to delivertechnology bring an experienced, focused and highly personalized ‘whiteyet differentiated perspective to glove’ service that is unmatched byCRE investment sales. larger brokerage firms..Well Developed Boutique Quality Extensive BuyerOff-Market Methods Service. Database & CRMWe facilitate off-market Powerhouse Comprising more thantransactions and 1031 Capabilities. 50,000 national andexchanges for ownerswho prefer a discreet, international qualified real1-on-1 approach with estate buyers allows us toqualified like-kind buyersin our exclusive network. efficiently identify most- likely buyers from a largeAn In-House Capital pool of qualified investors.Markets Platform AdvancedProvides valuable insight to our Analytical Capabilitiesinvestment sales team and afully-integrated offering for our Deep research driven analysis,clients’ acquisition, turn-key financial modeling, anddevelopment orrecapitalization projects. sensitivity models empower pricing strategy, sales, and negotiations.PG / 5

RARE CREOur Investment Sales ProcessFrom Start To Finish 1 Information ▪ Interview client to establish client’s objectives, sought terms of sale, investment highlights, value-added opportunities, and to Gathering collect necessary information2 Campaign ▪ Produce high-quality multimedia collateral as required (photos, videos, floor plans) Development ▪ Build RARE Disposition Analysis to aid with pricing guidance3 ▪ Define characteristics of target buyer prospects (e.g. geographic Out-to-Market location, size and type of organization, reputation, exclusions etc.)4 ▪ Define type of marketing campaign and exposure level Fulfillment ▪ Launch marketing campaign5 ▪ Website ▪ Virtual Data Room ▪ Phone & E-Mail ▪ Cooperating Brokers Closing ▪ Listing Portals ▪ Site Tours ▪ Manage due diligence information dissemination, bidding process, LOIs and timetables ▪ Produce analysis of offers, including prospective purchaser’s financial capability, track record and overall perceived certainty of execution ▪ Negotiate and execute purchase & sale contract ▪ Coordinate and direct all due diligence activities ▪ Assist purchaser’s third-party service providers including but not limited to lenders, appraisers, engineering firms, surveyors, environmental inspectors, and other consultants ▪ Assist with review of closing statement and attend closing if appropriatePG / 6

RARE CREWhy Off-Market?A Case for ‘Off-Market’ Method of Transacting▪ Achieve “market value” offers with ▪ Deal with hand selected minimal disruption professional/institutional purchasers instead of weeding through buyers that▪ Keep sales and marketing activity are less serious or capable discreet and undisclosed to certain stakeholders in early stages of marketing ▪ If a deal has been widely circulated, (e.g. media, tenants, property managers) many potential new purchasers might wonder what is wrong with the property▪ Savvy sellers recognize that, depending on property type, over-exposure can ▪ If an off-market deal falls through, other have a negative impact on sale price potential purchasers would not be aware and would view a “recycled” deal as a▪ Prioritize certain or quick closing over “fresh” deal pricePG / 7

RARE CREWhy Boutique? Our Advantage vs. National Brokerage FirmsQuality vs. Focused on delivering a superior Largely transactional and quantityQuantity experience and building a long-term driven.Buyer relationship with clients.Database Combination of internally curated No different. In today’s age, listing databases and institutional services and institutional marketplaces. marketplaces level the playing field for smaller firms.Team and Heavily invest in a hand selected Thrive on constantly bringing in newTalent group of professionals and foster a trainees into an often cut-throatNurturing highly incentivized and collaborative environment with high burn-out. environment. Generally little to no support from the top.Speed Technology-driven processes that Marketing & closing processes can be maximize efficiencies and are very fragmented with often too many adopted by all team members. ‘cooks in the kitchen’.Results Required to produce results and Often rest on the laurels of a nationalOriented deliver real value to maintain our logo and hesitate to go ‘above and beyond’ standard practice. brand, reputation and clients.Perceived Offerings from boutique firms are Offerings from large nationalExclusivity perceived to be more selectively brokerages are presumed to be marketed and less publicized, and widely marketed and have inflated hence often draw more interest from pricing. both private and institutional investors.PG / 8

RARE CREThe RARE Disposition Analysis We developed a proprietary one-page analysis, the RARE Disposition Analysis, to succinctly aggregate most of the information necessary for a property owner to determine an optimal sale price. We like to think of it as a broker’s opinion of value (“BOV”) on steroids. It includes:✔ Sales price sensitivity analysis (present value)✔ Market cap rate survey✔ Sample recent sales comparables in a specific submarket✔ Submarket data and subject-to- market variance analysis✔ Investment highlights✔ Investment analysis (featuring proforma IRR & ROI multiple)PG / 9

RARE CREOur Marketing MaterialsWe create exceptionally designed marketing materials for our clients, includingoffering memorandums (“OM”), short-form presentations (e.g. “teasers”), digitalbrochures and online media such as HTML email flyers and property webpages.Our marketing collateral is aesthetically pleasing and contains zero unnecessaryfiller. We know what information investors truly care about when they arescreening hundreds of opportunities on a weekly basis – so we cut to the chaseand serve that information on a silver platter.Because of this, when investors see a RARE CRE opportunity in their inbox,they pay attention, and respond quickly.Photos, 10 Anatomy of 1 ExecutiveRenderings, Site a RARE OM SummaryPlans, ElevationsPlotted 9 Property/SiteMaps & DetailsAerials 2 8 Past Financials & Market &Submarket Data Proforma 7 (Argus run if Sales & 3 Appl.) Rent/Rate 6 Investment Comps 5 4 or Debt Analysis & Sensitivity Construction Business/ Tables Schedule Marketing Plan (If Appl.) (If Appl.)PG / 10

RARE CREHow We Develop an Offering Understandthe unique attributes and nuances of a particular property type.Our team has particular experience with:▪ Multifamily ▪ Senior Living Identify▪ Residential ▪ Special Use (Self- opportunities for upside including For-Sale Storage, Parking operational enhancements, asset▪ Hotel & Resort and Marina) segmentation, strategic repositioning, and▪ Office & Retail ▪ Secured Notes potential development opportunities. Step Into Study buyers’ shoes and consider their the market, submarket and investment strategy, acquisition neighborhood. Assemble a list of well- founded comparables (e.g. sales comps, criteria, return hurdles, typical rent comps, STR reports). financing structures, Develop holding/vesting periods, and the target audience’s general institutional-grade marketing materials risk/return profile. that capture attention and pre-emptively address investors’ most important Build questions. a detailed proforma and valuation supported by empirically driven assumptions regarding upside in rent/income, OPEX adjustments, financing rates/proceeds, and future projected exit strategies and terminal values.PG / 11

RARE CREOur Marketing Toolkit Our clients select their preferred level of marketing exposure and we take care of the rest Off- FullyMarket Marketed Personalized CA Protected Access Control Outreach to HandSelected InvestorsOver 50,000 1,536 Opened Custom Property Websitesqualified 789 Email Secure Virtual Data Roomscommercial real 98estate investors 45 Viewedincluding private 35 Teaserequity firms, REITs,Pensions Funds, Signedinsurance Confidentialitycompanies, privateinvestors, foreign Accessed Virtualinvestors and Data Roomdevelopers. Downloaded Documents Offer Tracking & ReportingPG / 12

CAPITAL ADVISORY PLATFORMCREATIVE SOLUTIONS FOR THE ENTIRE CAPITAL STACK

RARE CREWhat We DoWe differentiate capital advisory from mortgage brokerage through services thatexceed the traditional scope of work of a mortgage broker. As a capital advisor we’re notjust going to procure term sheets from lenders. We take a holistic look at our clients’company, projects, capital structure, and portfolio in order to compose creative solutionsthat create cohesive, long-term value for an asset or business plan. Debt Services Equity Services Additional Services▪ Assist with defining an optimal ▪ Assist with producing ▪ Advise on company’s market capital stack and the most feasibility analysis positioning and likely capital sources branding/identity strategy ▪ Prepare investment financial▪ Prepare financial model model including partnership ▪ Develop or augment including loan sizing, waterfall/cash flow corporate profile marketing refinancing and DSCR/debt modeling materials yield sensitivity analysis ▪ Prepare equity offering ▪ Develop or augment track▪ Prepare loan offering memorandum record presentations and memorandum management team profiles ▪ Develop equity term sheets▪ Ensure deal is delivered to, and for legal ▪ Assist with production of prioritized by nation’s top guarantor documentation and lending principals ▪ Direct legal w/ subscription financial statements agreements, operating▪ Track interest levels and agreements, LP agreements ▪ Advise on long-term and manage term sheet corporate-level financing and negotiations ▪ Go out to market and fundraising strategy manage term sheet▪ Prepare comprehensive loan negotiations ▪ Advise on optimization of quote matrix comparing operational systems and multiple financing options ▪ Manage timely delivery of processes requested items to expedite▪ Manage timely delivery of closing requested items to expedite closingPG / 14

RARE CREWhat We KnowRARE CRE offers a unique advisory platformgiven its ability to collaborate within a verticallyintegrated environment with our in-houseInvestment Sales and Capital Markets teams.This allows us to deliver integrated andseamless debt & equity structuring andprocurement services alongside a specificacquisition or disposition strategy.DebtLeveraging our comprehensive lender database,technology partner (CAPLYTIC), capital marketsknowledge and relationships with “decisionmakers” we’re able to provide our clients with themost competitive and creative debt structures forevery type of commercial property and situation.EquityOur team has structured, negotiated and arrangedhighly complex equity transactions comprising jointventure equity, preferred equity and other hybridstructures. Our relationships with institutional equityproviders, family offices, high net worth individualsand EB-5 regional centers provide our clients withaccess to various options that can fill a gap in thecapital stack of their project. EXPERIENCED ACROSS MOST PROPERTY TYPESPG / 15

RARE CREDo I Need a Capital Advisor? Do your internal personnel have the experience and time to: Keep track of commercial real estate capital markets and an evolving suite of financing programs available? Understand the current market conditions and cost of available capital? What has been done before? What is reasonable to ask for? Identify tier/type/structure of capital that best fits your business plan? Source, analyze and interpret market and transaction data relevant to your deal? Prepare exceptional data-driven presentations that position your project in the best light possible? Ensure your deal is delivered to, and prioritized by the nation’s top lending or equity principals? Track and manage multiple moving processes, information exchanges and constant communication with numerous parties? Analyze, compare and negotiate term sheets and agreements?PG / 16

RARE CRERepresentative ExperienceWe're a team of industry experts and technologists who are addressing the inefficienciesof sourcing financing, originating deals, underwriting debt and equity transactions, andmanaging transaction workflow.Our team has decades of experience in structuring, procuring, and closing short-andlong-term financing across the entire capital stack equating to over $1 billion nationally.Most commercial mortgage brokers don’t do much more than arrange plain vanilla loansfor stabilized properties which pose no real challenge nor create strategic value for theclient. Our solutions are far from mundane and are sought after by the CRE entrepreneurwho’s financing their largest development yet, or undertaking a complex recapitalization. A SAMPLE OF OUR TEAM’S EXPERIENCE Office Tower NPL Portfolio Luxury Hotel Type $130M $100M $60MConstruction Loan + Acquisition Credit Construction Loan + Forward Take-out Facility Mezzanine Loan We Deliver Retail Plaza Multifamily Select Service SFR Portfolio $30M $17M $12M $1.2MAcquisition Loan + Bridge Loan + Bridge Loan + Acquisition Subscription Preferred Equity JV Equity Preferred Equity LinePG / 17

For More Information Contact Jamie Zambrana Managing Partner 561-510-0390 [email protected] Nelson Garcia Managing Partner 786-763-1480 [email protected] / 18