Tri-County Cash Flow Portfolio

HIGH-GROWTH CASH FLOW STREM WITH INVESTMENT-GRADE BACKING

• Investment-Grade Credit Backing: 7950 Seward Road (61% of Portfolio GLA) is leased to Maersk Warehousing & Distribution Services (OTCMKTS: AMKBY, S&P: BBB+) through February 2031, providing long-term backing from a high-quality, credit tenant.
• Accretive Annual Escalations: Each lease features accretive 3.25%-3.75% annual lease expirations providing 3.4% average annual increases across the cash flow stream.
• Upside Potential: There is a 20% mark-to-market opportunity on the Macomb Group’s in-place rent, providing future upside potential in this class A deal.

CLASS A, INSTITUTIONAL QUALITY INDUSTRIAL PRODUCT

• Delivered in 2022 & 2023, the Portfolio offers investors the opportunity to acquire two (2) highly functioning assets with modern features, limiting future capital requirements for future ownership.
• Totaling 512,397 square feet, these class A facilities were designed with top-of-market specifications including 32' clear heights, ample loading, efficient site plans, ESFR fire protection, and White Rhino-Bond TPO roofs.
• The Portfolio's two (2) assets average 256,199 square feet in size. As the cost of building new construction in this size range has elevated substantially, the Portfolio offers the ability to acquire this product at an efficient scale at a highly competitive per-square-foot basis.
• Port Union offers the ability to expand the current 135' truck court depth by an additional 50' to match the 185' seen at Fairfield II. If future ownership were to complete this expansion, 41 trailer parking stalls could also be added to the Property.

IRREPLACEABLE, INFILL REAL ESTATE

• The Portfolio is set up with ideal access to major transportation routes: the assets are surrounded by Interstates 75 and 275 and State Routes 4, 127, 129, and 747 with a sub-4 mile average distance between either asset and each of the aforementioned highways.
• I-275, also known as the Cincinnati Beltway, is the longest looped expressway in the United States and connects the Portfolio to vital transportation infrastructure including the Cincinnati/Northern Kentucky International Airport, I-71, and I-74.
• The Offering's location in the densely populated region north of Downtown Cincinnati provides the best access to labor and rooftops in the market.
• The area surrounding the Tri-County Logistics Portfolio is a legacy industrial pocket with limited nearby greenfield development sites, further bolstering renewal probabilities from in-place tenancy.
• The Portfolio's assets are located less than four (4) miles apart from one another, allowing for combined management and reduced overall costs.

OPPORTUNITY TO JOIN A HIGH-GROWTH TRI-COUNTY INDUSTRIAL SUBMARKET

• The Offering presents an opportunity to join a Cincinnati industrial market which has experienced 28% rent growth since year-end 2021. Rents grew at a compound annual growth rate (CAGR) of 6.5% from YE 2021 - 2024.
• Growth in Tri-County has even been more substantial, where rents have grown at a 7.1% CAGR over the same period.
• Limited land sites within the dense Tri-County submarket has constrained new development:
• JLL's research team has found that there is no industrial product currently under construction or proposed to be built within the submarket.
• For reference, the national average shows that at any given time roughly 3.3% of a given market's overall industrial supply will be new product currently under construction. This lack of oncoming properties bodes well for continued growth trends in the Tri-County submarket.