Currently, our portfolio is valued at more than $250 million. This, along with our acquisition partners’ collective transaction experience, has increased the Falcon Southwest dollar value involvements over the $1 billion mark. As part of the individual investment strategy for each project, Falcon Southwest is continually in various stages of acquisition, repositioning and disposition of numerous office, industrial and apartment properties. Most of our properties are located in the Southwest, including Dallas/Ft.Worth, Houston, Austin, San Antonio, and Phoenix. Recent opportunities have also extended our involvements into the Southeast and the Midwest regions of the country.

Preserve at Kingwood 27600 Kings Manor Drive North Kingwood, Texas 77339 www.preserveatkingwood.com Acquired September 14, 2006 - This project consists of 320 units and features 16 two and three story brick & hardi-plank buildings and is located within the master planned Kingwood community. Amenities include resort-style pool, fitness center, clubhouse, media/theater room and picnic areas with barbeque grills. The complex is located 7 miles from George Bush Intercontinental Airport and within close proximity to neighborhood shopping centers and four championship golf courses.

Indigo Creek Apartments 14221 North 51st Avenue Phoenix, Arizona 85306 www.indigocreekapartments.com Acquired September 15, 2006 - This project consists of 408 units and features two and three story stucco buildings surrounded by lush landscaping, three pools, water features & fountains and picnic areas. The complex is conveniently located in the Municipality of Glendale and within walking distance to Arizona State University West Campus, Thunderbird Samaritan Medical Center and Thunderbird Regional Park which includes jogging trails and outdoor recreational amenities.

MacArthur Plaza 5525 N. MacArthur Boulevard Irving, Texas 75038 www.5525MacArthur.com NRA: 185,545 sq.ft Floors: 9 Leasing Agents   Matt Hurlbut 972.774.2532 Matt.Hurlbut@transwestern.net Acquired January, 2007 - Located in the heart of the Dallas/Ft. Worth metroplex, this building, Renovated in 2004, impresses upon entry and includes on-site management and maintenance as well as outstanding views. The lobby of this 9-story building is prestigiously finished and offers an on-site delicatessen.

Ashford 7 900 Threadneedle Houston, Texas 77079 www.AshfordVII.com NRA: 188,496 sq.ft Floors: 8 Leasing Agents   Bob Cromwell 713.773.5531 bcromwell@moodyrambinint.com Kevin Nolan 713.773.5572 knolan@moodyrambinint.com Acquired October, 2005 - This 8-story office building is located in the heart of the Energy Corridor. The project offers structured parking and a lush park-like setting to create one of the best office environments in West Houston.

Mitchelldale Business Park 5151 - 5401 Mitchelldale Houston, Texas 77092 www.MitchelldaleBP.com NRA: 377,752 sq.ft Floors: 12 Leasing Agents   Janae Evans 713-621-3999 janae@evtex.com Robyn Berry 713.957.8876 robyn@evtex.com Acquired August, 2004 - 12 one-story office/warehouse buildings in a park-like setting located near the intersection of US Highway 290 and Loop 610. This project has recently been updated with a modern architectural façade and a major roof replacement program.

Midway Commons 3410-3424 Midcourt Road Carrollton, Texas www.MidwayCommons.com NRA: 241,553 sq.ft Floors: 6 Leasing Agents   Susan Singer 972.776.7043 ssinger@bradford.com Acquired October, 2005 - 6 single story office/flex buildings located in North Dallas near the Addison Airport. This location offers convenient access to all of North Dallas via the North Dallas Tollway and the George Bush Expressway.

Ashford 6 1155 Dairy Ashford Houston, Texas 77079 www.Ashford6.com NRA: 183,268 sq.ft Floors: 8 Leasing Agents   Bob Cromwell 713.773.5531 bcromwell@moodyrambinint.com Kevin Nolan 713.773.5572 knolan@moodyrambinint.com Acquired July, 2005 - This 8-story office building is located in the heart of the Energy Corridor. The project offers structured parking and a lush park-like setting to create one of the best office environments in West Houston.

Plantation Woodlands 3720 College Park Drive The Woodlands, Texas 77384 www.plantationwoodlands.com Acquired October 4, 2011 – This Class A apartment project consists of 432 units in two and three story plantation-style buildings and a single story clubhouse/amenity building. The property is located in The Woodlands which is a $12.7 billion master planned community, 28 miles north of Houston along Interstate 45. Community amenities include an indoor basketball court, theater room, state-of-the-art fitness center, children’s playscape and two resort-style pools with grilling cabanas. Unit amenities include granite countertops, black appliances, dark wood cabinets, garden tubs and brushed nickel lighting.

Ashford 5 14701 St. Mary's Lane Houston, Texas 77079 www.AshfordOfficePark.com NRA: 195,154 sq.ft Floors: 8 Leasing Agents   Bob Cromwell 713.773.5531 bcromwell@moodyrambinint.com Kevin Nolan 713.773.5572 knolan@moodyrambinint.com Acquired July, 2007 – This 8-story office building with an adjoining 3 level atrium structure is located in the heart of the Energy Corridor. The project offers structured parking and a lush park-like setting to create one of the best office environments in West Houston.

Keystone Apartments 5230 Thunder Creek Road Austin, Texas 78759 www.thekeystoneapts.com Acquired July, 2007 – This project features 12 two and three-story brick and wood siding buildings. The complex amenities include a leasing center, pool and heated spa, playscape, laundry facilities, mature landscaping and large native trees. The property is well located in northwest Austin, one of the fastest growing areas of Austin and has excellent access and visibility from Highway 183 North.

Lofts at Hermann Park One Hermann Park Court Houston, Texas 77021 www.loftsathermannpark.net Acquired February 14, 2008 – This Class A apartment project consists of 380 units in two 4 story buildings and one 10 story tower. The property was completed in 2005 and is located in the Texas Medical Center, a core urban in-fill area, directly across from Hermann Park and Golf Course and close to the Museum District. The Texas Medical Center has the largest concentration of medical facilities in the world. Project amenities include a resort style swimming pool, clubhouse, business center, fitness room, wi-fi, 10-12 foot ceiling heights, granite counter tops, polished concrete floors, cherry wood cabinets, large walk-in closets, full size washer/dryer, garage parking, exposed metal ductwork to create the “loft” style design, and outstanding city views.

The Palazzo 1011 Wonder World Drive San Marcos, Texas 78666 www.palazzoapts.com Acquired December 20, 2010 - This project consists of 300 units and features 18 two and three-story buildings with Italian themed architectural accents. This property also contains a clubhouse/leasing center, two pools, business center, fitness center, full size sport court, and a Texas State University shuttle bus stop adjacent to the site. The property is located in San Marcos, a suburb of Austin approximately 30 minutes south of the CBD. Situated on the recently expanded Wonder World Drive, the site is ideally positioned 100 yards east of Interstate]35, 200 yards east of the Central Texas Medical Center and less than three miles south of the rapidly expanding Texas State University, the 5th largest university in Texas. A new 200,000 square foot County Government Center is under construction less than a mile from the property and will employ 200 workers by 2012. Finally, the San Marcos Outlet Center, the largest outlet shopping destination in Texas is located 5 minutes to the south.

The Villas at Bunker Hill 9757 Pine Lake Drive Houston, Texas 77055 www.villasatbunkerhill.com Acquired October 14, 2010 - This project consists of 398 units and features 2 four story buildings and a 630 space structured garage. This property also contains a club courtyard with sunken garden and fountain, two pocket parks with reading benches, lap pool, trellised barbecue piazza with bistro seating and multiple sun decks. The complex is conveniently located in West Houston along the newly expanded I-10 west corridor serving Houston’s Energy Corridor and the Westchase Business District. This prime location offers easy access to downtown and Houston’s Galleria/Uptown area via I-10.

Villas at Hermann Park Houston, Texas 77021 Houston, Texas 77021 www.villasathermannpark.com Acquired June 10, 2011 - This project is a Class “A” community consisting of 320 units and features 11 four-story buildings and two structured parking garages providing direct access to each residential floor throughout the property. This property also provides a 24-hour fitness center, a resort-style swimming pool with fountains, a lap pool, cabana area with outdoor California kitchens, poolside Wi-Fi and wireless café, clubhouse and shuttle service to the Texas Medical Center. Unit amenities include granite countertops, slate flooring, 9 foot ceilings, crown molding and roman tubs. The property is located in the Medical Center submarket near Baylor College of Medicine, The University of Texas Health Science Center, The University of Texas M.D. Anderson Cancer Center, University of Houston System Rice University and Houston Community College.

Woodmoor Apartments 3505 South Lamar Boulevard Austin, Texas 78704 www.woodmoorapts.com Acquired July, 2007 – This project features 16 two-story buildings with brick and wood siding. The property amenities include a clubhouse, pool with sundeck, wooded park with picnic area and laundry center. The subject’s location is very convenient for people working downtown and the immediate area, referred to as SOLA (South Lamar), is experiencing significant redevelopment activity.