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Legacy Real Estate

Creating Value on Irreplaceable Corners

The Founders of Fifth Corner have over 20-years of experience working together and establishing a best of class track record. After selling AmREIT (NYSE:AMRE) in February 2015, Kerr, Chad, and T founded Fifth Corner: The Irreplaceable CornerTM Company. To better understand where we are going, you can look at where we have been, which is a Legacy of value creation, stewardship and hard work!

AmREIT’s Irreplaceable Corner™ properties were located in the most affluent and densely populated submarkets within five of the fastest growing metropolitan areas in the country: Houston, Dallas, Austin, San Antonio, and Atlanta.

AmREIT’s strong local relationships – combined with its reputation for performance – allowed the company to acquire more than 60% of its portfolio through off-market transactions.

POST OAK

CREATING VALUE ON IRREPLACEABLE CORNERS™

POST OAK

• Project acquired in off-market transaction in June 2004 for $6.4 million

• Sold to high-rise multi-family developer in 4Q15 for land value

• $21.3 million sales price

• $317/s.f. to land was the highest non-CBD price in Houston’s history

Sold project to local developer who is in the process of building The Aspire

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UPTOWN PARK

CREATING VALUE ON IRREPLACEABLE CORNERS™

UPTOWN PARK

• Acquired in 2005 for $69 million Increased NOI by $800,000 within 3 years

• Master-planned to integrate office and residential with neighboring mixed use environment

• Allocated value at sale in Feb. 2015: $151.9 million

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UPTOWN PLAZA

CREATING VALUE ON IRREPLACEABLE CORNERS™

UPTOWN PLAZA

• Acquired in off-market transaction in March 2006 for $24 million

• Sold to Edens in 1Q15 for $31.9 million

• Land values in the area went to $300/s.f.

• Additional earnings included a realized $6 million loan buyback discount, $3 million land flip profit and approximately $2 million in seller financing interest and fees on the adjacent high-rise pad ($11 million additional profits)

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“The AmREIT relationship has been an excellent partnership. The team has in-depth local market knowledge due to their breadth of knowledge of assets in the Texas region. AmREIT takes a proactive approach to management. They have been successful in identifying creative leasing solutions and in repositioning retail to add value to the underlying real estate.”
-Adria Savarese – Vice President, J.P. Morgan Asset Management

PRESTON ROYAL VILLAGE

CREATING VALUE ON IRREPLACEABLE CORNERS™

PRESTON ROYAL VILLAGE

• Acquired in an off-market transaction for fee-simple on the NWC and leasehold interest on the NEC in December 2012 for approximately $66 million

• Acquired the fee-simple interest in an off-market transaction on the NEC in July 2013 for $15 million (for total of $81 million investment)

• Master-planned both corners. Redevelopment commenced 2016

• Allocated at sale in Feb. 2015: $99.6 million

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WOODLAKE SQUARE

CREATING VALUE ON IRREPLACEABLE CORNERS™

WOODLAKE SQUARE

• Acquired in 2005 for $69 million

• Increased NOI by $800,000 within 3 years

• Master-planned to integrate office and residential with neighboring mixed use environment

• Allocated value at sale in Feb. 2015: $151.9 million

Before & Conceptual

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View All Legacy Properties

“AmREIT delivered on the redevelopment, leasing, and management of our shopping center, turning an under-leased asset into the first-class, core asset it is today. Our joint venture with AmREIT was a very positive experience and we look forward to future opportunities to work together.”
-John Miller – Director, AEW Capital Management