Case Studies

Brass Professional Center

Property Address

4400 Piedras Drive South, San Antonio, TX 78228

Rentable Square Feet

1,045,672 sq. ft.

Project Type

Value-Add, Short-Term Hold

Opportunity

Value-Add Opportunity that Brass Aquired in 2006. The Largest Office Complex in San Antonio Consisting of 26 Class B Buildings

Aquisition Date

September 2006

Purchase Price

$76,000,000

Projected IRR

21.8%

Centerview Crossing

10010 San Pedro

Property Address

10010 San Pedro, San Antonio, TX 78216

Rentable Square Feet

140,730 sq. ft.

Project Type

Value-Add, Short-Term Hold

Opportunity

Value-Add Opportunity that Brass Aquired in 2005. A Class “B+” Multi-Tenant Office Building Located in the North Central Office Sub-Market

Aquisition Date

December 2005

Purchase Price

$10,400,000

Projected IRR

11.8%

10010 San Pedro

Creekside Business Park

Property Address

1900 South Sunset, 1811 Pike Road
1921 Corporate Circle, Longmont, CO 80501

Rentable Square Feet

257,266 sq. ft.

Project Type

Value-Add, Short-Term Hold

Opportunity

Value-Add Opportunity that Brass Aquired in 2006. A Class “A” Multi-Tenant Three Building Office Park Located Outside Boulder, Co.

Aquisition Date

January 2006

Purchase Price

$29,985,000

Projected IRR

17%

Creekside Business Park

Mockingbird Plaza

Property Address

5430 Fredericksburg Road, San Antonio, TX 78229

Rentable Square Feet

224,409 sq. ft.

Project Type

Value-Add, Short-Term Hold

Opportunity

Value-Add Opportunity that Brass Aquired in 2004. A Class “B” Multi-Tenant Seven Building Office Park Located in the Medical Center Area

Aquisition Date

November 2004

Purchase Price

$12,400,000

IRR

14.6%

Mockingbird Plaza

John Smith Medical Building

Property Address

7410 John Smith, San Antonio, TX 78229

Rentable Square Feet

15,605 sq. ft.

Project Type

Value-Add, Short-Term Hold

Opportunity

Value-Add Opportunity that Brass Aquired in 2002. A Class “B” Multi-Tenant Office Building

Aquisition Date

July 2002

Purchase Price

$1,085,000

IRR

36.2%

John Smith Building

The Atrium

Property Address

85 NE Loop 410, San Antonio, TX 78216

Rentable Square Feet

132,00 sq. ft.

Project Type

Value-Add, Short-Term Hold

Opportunity

Value-Add Opportunity that Brass Aquired in 2003. A Class “B+” Multi-Tenant Building Office Park Located in the North Central Office Sub-Market

Aquisition Date

December 2003

Purchase Price

$10,025,000

Projected IRR

18.5%

The Atrium

Baily’s Pond

Property Address

Highway 46 East, New Braunfels, TX

Land Size

46 Acres

Project Type

Mixed-Use Development

Opportunity

The Planned Development to Consist of a 123-Unit Subdivision, 160 Unit Apartment Community & 25,000 sq. ft. of Commercial Buildings

Aquisition Date

2002-2003

Purchase Price

$617,000

Projected IRR

38.8%

Baily's Pond

San Antonio Technology Center

Property Address

3463 Magic Drive, San Antonio, TX 78229

Rentable Square Feet

88,000 sq. ft.

Project Type

Value-Add, Short-Term Hold

Opportunity

Value-Add Opportunity that Brass Aquired in April 2003. A Boutique Investment Property in Northwest San Antonio

Aquisition Date

April 2003

Purchase Price

$4,383,000

Projected IRR

34.4%

San Antonio Technology Center

4202 Dividend

Property Address

4202 Dividend, San Antonio TX 78219

Rentable Square Feet

24,376 sq. ft.

Project Type

Value-Add, Short-Term Hold

Opportunity

Value-Add Opportunity that Brass Aquired in 2002. A Class “B” Single-Tenant Light Industrial and Office Building

Aquisition Date

September 2002

Purchase Price

$687,500

IRR

23.4%

4202 Dividend

Brass Gateway

Property Address

I-10 & Heuermann Rd.

Project Size

24.5 Acres

Project Type

Mixed Use / Development

Opportunity

Development of 450,000 Sq. ft. of Class A Office and Retail Space in the Growth Corridor of San Antonio

Aquisition Date

2008

Purchase Price

$5,300,000

IRR

45.3%

Brass Gateway

Dominion Place

Property Location

Pharr, TX

Project Size

330 Single Family Lots on 66 Acres

Project Type

Single Family Land Development

Opportunity

Development Consists of 330 Single Family Lots Located in the Rio Grande Valley

Aquisition Date

2002

Purchase Price

$450,000

IRR

26.5%

Dominion Place