THE SUMMIT BIRMINGHAM

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1 THE SUMMIT BIRMINGHAM

PROJECT LOCATION The Summit Birmingham has been a dynamic performer for retailers since opening in 1997.

2 PROJECT LOCATION The Summit Birmingham has been a dynamic performer for retailers since opening in Timed to meet the needs of the market, The Summit was planned to open in a series of phases and currently represents 1 million square feet of prime retail and office space. Ideally located at the crossroads of U.S. 280 and I-459, nearly 153,000 vehicles a day travel past The Summit Birmingham. The Summit rests squarely in the center of a robust residential, office and retail corridor in Birmingham where home prices and incomes have continued to increase. This includes Mountain Brook, which is ranked as one of the top-earning towns, according to Money Magazine. SITE FACTS ESTIMATED POPULATION , ,980 5-year growth 5% ESTIMATED HOUSEHOLDS , ,896 5-year growth 4.5% TRADE AREA Daytime activity is a market in itself with 80% white-collar employment inside 10 minutes, and a daytime population of more than 470,000 inside 20 minutes of The Summit. Office space at The Summit is occupied by more than 100 employees. The growth in average household income in the primary trade area is projected at almost 8%. AVERAGE HOUSEHOLD INCOME 2013 $72, $78,276 5-year growth 7.8% HH INCOME DISTRIBUTION $75, % TOURISM Birmingham is a city alive with an estimated 4.4 million tourists who visit the Magic City annually. Named by NBC s Today show as a place to visit in 2013, Birmingham has had an impressive $1.4 billion poured into the local economy by visitors. Of that amount, 71% was spent on food, shopping, recreation and entertainment. Birmingham is home to several James Beard Award-winning restaurants and chefs. When visitors aren t enjoying the best restaurants, they re stopping by Railroad Park, named one of the country s best urban spaces, or relaxing at The Westin Birmingham, the city s newest hotel which opened in Source: U.S. Census Bureau and Applied Geographic Solutions, 2014; 15-mile radius Source: 2011 Money magazine; 2010 Davidson-Peterson Study; Winner, Urban Land Institute s 2012 Urban Space Award

Population Density One Dot = 100 people Trade Area = 637,049 people Average HH

3 BROOKWOOD VILLAGE DRIVE TIME: 10 MINS. THE SUMMIT THE SUMMIT RIVERCHASE GALLERIA DRIVE TIME: 11 MINS. Population Density One Dot = 100 people Trade Area = 637,049 people Average HH Income By Block Groups $100,000 or more $75,000 to $100,000 $50,000 to $75,000 $30,000 to $50,000 Less than $30,000 Map data 2013 Google

AFFLUENT LIFESTYLE THE SUMMIT SURROUNDING COMMUNITIES FAIRFAX, VA COMMUNITY UNITED STATES AVERAGE HHI $ 128,466 $ 133,574 $ 69,376 AVERAGE HOUSEHOLD NET WORTH $ 615,782 $ 994,394 $ 271,408 POPULATION

4 AFFLUENT LIFESTYLE THE SUMMIT SURROUNDING COMMUNITIES FAIRFAX, VA COMMUNITY UNITED STATES AVERAGE HHI $ 128,466 $ 133,574 $ 69,376 AVERAGE HOUSEHOLD NET WORTH $ 615,782 $ 994,394 $ 271,408 POPULATION 161, , ,624,000 HOUSEHOLDS 64,041 50, ,306,000 % WHITE COLLAR PROFESSIONALS 78.4% 78.4% 29.2% % COLLEGE+ GRADUATES 66.2% 62.1% 27.0% HOUSEHOLDS WITH INCOMES > $125,000 HOUSEHOLDS WITH INCOMES > $200,000 6,091 6,763 7,536 8,800 TOTAL: 13,627 15,563 HOUSEHOLDS WITH DISP. INCOMES > $100,000 HOMES WITH VALUES > $1,000,000 1,895 1,978 1,895 1,978 ANNUAL EXPENDITURE ON APPAREL $210.1M $185.5M ANNUAL EXPENDITURE ON APPAREL PER HOUSEHOLD $ 3,280 $ 3,698

TOP-EARNING TOWNS 2013 POPULATION MEDIAN HHI CLOSEST MALL 1. SCARSDALE, NY 17,471 $ 291,542 WESTCHESTER MALL 4. POTOMAC, MD 46,387 $ 239,330 TYSONS CORNER AND GALLERIA 6.

5 TOP-EARNING TOWNS 2013 POPULATION MEDIAN HHI CLOSEST MALL 1. SCARSDALE, NY 17,471 $ 291,542 WESTCHESTER MALL 4. POTOMAC, MD 46,387 $ 239,330 TYSONS CORNER AND GALLERIA 6. WINNETKA, IL 12,232 $ 235,432 NORTHBROOK COURT; OLD ORCHARD MALL 8. WEST UNIVERSITY PLACE, TX 15,427 $ 226,311 THE GALLERIA HOUSTON 11. WELLESLEY, MA 28,463 $ 209,862 NATICK MALL; MALL AT CHESTNUT HILL 12. RIDGEWOOD, NJ 25,271 $ 198,122 GARDEN STATE PLAZA 18. FALLS CHURCH, VA 13,389 $ 157,069 TYSONS CORNER AND GALLERIA 19. MOUNTAIN BROOK, AL 20,245 $ 153,360 THE SUMMIT 21. MERCER ISLAND, WA 23,446 $ 148,234 BELLEVUE SQUARE; THE SHOPS AT THE BRAVERN 24. VIENNA, VA 16,285 $ 144,502 TYSONS CORNER AND GALLERIA

6 AERIAL VIEW FACING NORTH SUMMIT BOULEVARD 40,000 CPD 56,460 CPD 96,070 CPD

7 PHASE I

8 PHASE II PHASE III

9 PHASE IV PHASE V

THE SUMMIT BIRMINGHAM Total size: 1 million sq. ft. ANCHORS: RESTAURANTS: Belk (164,886 sq. ft.) California Pizza Kitchen Lime Fresh Mexican Grill* Seasons 52* Saks Fifth Avenue* (99,500 sq.

ft.) Fleming s Steakhouse* Panera Bread Which Wich Flip Burger Boutique* Johnny Rockets Primeaux Cheese and Vino Village Tavern* Zoës Kitchen SPECIALTY SHOPS: Allen Edmonds* Chico

Republic Brighton Collectibles Brooks Brothers* C.

11 THE SUMMIT BIRMINGHAM Total size: 1 million sq. ft. ANCHORS: RESTAURANTS: Belk (164,886 sq. ft.) California Pizza Kitchen Lime Fresh Mexican Grill* Seasons 52* Saks Fifth Avenue* (99,500 sq. ft.) The Cheesecake Factory* Macaroni Grill* Steel City Pops Carmike Cinema (60,191 sq.ft.) Chuy s Mexican Food* P.F. Chang s China Bistro* Urban Cookhouse Barnes & Noble (25,390 sq. ft.) Fleming s Steakhouse* Panera Bread Which Wich Flip Burger Boutique* Johnny Rockets Primeaux Cheese and Vino Village Tavern* Zoës Kitchen SPECIALTY SHOPS: Allen Edmonds* Chico s James Avery* The North Face* Talbots Ann Taylor* Clarks Janie & Jack* Orvis coming soon West Elm* Anthropologie* Apple* Athleta coming soon Aveda Experience Center Banana Republic Brighton Collectibles Brooks Brothers* C. Wonder* Charming Charlie* Coldwater Creek* Francesca s* Free People* Gap Adult/Kids/ Baby/Body Gus Mayer* Halcyon Days Salon & Spa* J. Crew J. Jill kate spade new york* L Occitane* LOFT Lucky Brand Jeans* lululemon athletica* M A C Cosmetics* Madewell* Merrell* Michael Kors Pandora* Paper Source* Pottery Barn* Pottery Barn Kids* Restoration Hardware* Sephora Soma Intimates* Sur La Table* Swoozie s* White House Black Market Williams-Sonoma* Urban Outfitters* Vera Bradley* Verizon Wireless Victoria s Secret Vineyard Vines* OFFICE: Brownell Travel Services* Sellers, Richardson, Holman & West, LLP* (premier certified public accounting firm) *EXCLUSIVE TO THE MARKET

13 OUR MANAGEMENT PHILOSOPHY Our commitment is to creating community environments that are crafted for long-term growth. We recognize that the consumer is choice-driven with a desire for quality shopping, dining and entertainment all in one convenient location. Therefore, we specialize in managing multiuse destinations so that retail, recreation and business flow together, maximizing the synergies between lifestyle components to create an enjoyable atmosphere where customers can shop, dine, live, work and play. Central to our philosophy is the desire to shape a destination of substance that s responsive to the needs of both the market and the community. We create true gathering places by crafting an ideal mix of shopping, social and professional venues in a beautifully landscaped, architecturally pleasing and well-maintained environment. The combination of high-demand retail, restaurants and entertainment, which might also include Class A office space, a residential component and service providers, delivers the ideal opportunity for customers and businesses to positively experience all that we have to offer. This is a proven formula for success for the consumer and businesses, helping to fulfill our mission of improving the quality of life in the communities we serve.

14 2222 ARLINGTON AVENUE BIRMINGHAM, AL PHONE BAYER

THE SUMMIT RENO LAKE TAHOE

THE SUMMIT RENO LAKE TAHOE PROJECT LOCATION The Summit Reno is a key retail component situated in the center of a growing regional hub for commercial, residential and office activity. At 601,491 square