RKMDis a leading

FULL -SERVICEreal estate development firm

ser v ingHEALTH CARE

PROVIDERSacross the nation.

5 8 5 0 S A N F E L I P E , S U I T E 4 9 0 , H O U S T O N , T X 7 7 0 5 7

T 713 . 7 8 2 . 9 0 0 0 www.readkingmd.com

About Read King

Founded by Jeff Read and Ewing King more than 25

years ago, the firm’s expertise includes investment and

development strategies, shopping center and build-to-suit

development, leasing, tenant representation, property

management, land sales and dispositions. Read King

has developed millions of square feet of Class A space

for clients such as Whole Foods, Walmart, Kroger, HEB,

Academy, JC Penney, Staples, Petco, Dollar Tree, HCA,

Texas Children’s, Neighbors Emergency Center, DaVita,

HealthOne, and St. David’s HealthCare.

Due to our developer and owner/operator experience, we

build, lease and manage shopping centers with a clear

objective of delivering value and high quality product to

both landlord and tenant.

Our strategy, size, growth and culture are deliberate.

The founders give their direct attention to the integrity

of the customer experience, as well as the well-being

and productivity of their experienced and dedicated

team members. We also seek to continually give back

to and enhance the communities in which we operate.

This responsive attitude and execution has resulted in

hundreds of referrals and dozens of repeat assignments

in all sectors of the market from across the United States.

“OUR COMMITMENT TO OUR CLIENTS IS

TO DELIVER THE HIGHEST QUALITY FACILITY

WHILE MAINTAINING A FOCUS ON SPEED TO MARKET

AND THE LOWEST POSSIBLE OCCUPANCY COST.”

JEFF READ, PRINCIPAL

TEAM

Read King Medical Development

Jeff Read Ewing King Tim DelgadoPrincipal Principal President, RKMD

Jay Jenckes Charles Scoville Blake AllenVice President, RKMD

COO CFO

Kim Nelson Ron Lindsey David LeckyExecutive Vice President

Vice President Development

Vice President of Construction

Brian Wood Osagie Okpamen Matt Camp Colorado Director of Development

Development Manager

Development Manager

Ryan Orr Cort King Shelby PlantReal Estate Broker Real Estate Broker RKMD Coordinator

& Marketing Associate

In 2009 over fifty percent of Read King’s development and leasing

activity in our retail platform was generated from medical related

businesses. We observed a shift in the medical industry from the

traditional on-campus buildings to doctors viewing their practices

as a patient centric retail business. The shift to the retail storefront

benefitted both the doctors and their clients through convenient

access, ample parking, visibility, and street signage, all in a highly

identifiable and synergistic location.

Through our development efforts to accommodate those users in our

own projects, we were afforded the opportunity to develop additional

medical facilities in other markets. Read King Medical Development

(RKMD) was formed as a full service real estate partner to deliver

the same level of service and expertise to our medical clients that we

have delivered for 25 plus years to our retail clients.

Read King Medical Development provides a comprehensive

approach to market development from strategic market consulting,

site selection, project financing, building design, construction

supervision and property management. Texas Children’s Hospital®

E M E R G E N C Y C E N T E R

WEST

CENTRALEAST

E M E R G E N C Y C E N T E R

UNDER CONSTRUCTION

NORTHEAST

85

178

375

62

601N Mesa St

Montana Ave

Zarag

osa Rd

Almeda Ave

North Loop Rd

Horizon Blvd

E M E R G E N C Y C E N T E R

UNDER CONSTRUCTION

E M E R G E N C Y C E N T E R

PROPOSED SITE

Loop 374

Loop 374

Services Timeline - From Start to Finish

SITE SELECTION PROJECT FINANCING

• Market analysis Trade area selection

• Analyze sites & Prepare market summary

• Underwrite entitlements on available sites

• Tour market with client

• Prepare “financial model” on selected site

• Present site Proposal package to client

• Present Market Comparables

• Negotiate Land Contract

• Negotiate And Execute Lease

• Preliminary Budgeting

• Final proforma/budget

• Complete financing package

• Bid financing package with lenders

• Select lender

• Close on development loan

DEVELOPMENT ASSET MANAGEMENT

• Due Diligence

• Site Design

• Building Design

• Permitting

• Construction Management

• Delivery to Client

• Lease and Contract Administration

• Building and Site maintenance

• Site Security

• Accounting and Finance

• Protest Tax Evaluation

• Expense Control

Site SelectionPRE DEVELOPMENT

Read King Medical Development’s approach to site selection begins with canvassing a market and putting together a comprehensive market analysis to determine trade areas within the market that are best suited to facilitate the client’s desired growth.

Once trade areas have been established, all sites within that trade area, that meet the client’s criteria, are identified.

We then begin to underwrite all the entitlements for the selected sites to narrow our focus to only those sites that can be delivered with the desired real estate characteristics within the client’s budget. Those entitlements include visibility, access, signage, utilities, zoning, title, deed restrictions, and permitting.

The following tools are utilized by Read King Medical Development in the site selection process:

Custom Demographic Reporting

• Employment and residential data from the latest US Census data

• Percent of population with any Medical Insurance, Managed Care Insurance and Medical Insurance from Place of Work (Commercially Insured)

• Quarterly Postal Count updates

• Drive time reports

• Custom trade area polygons

• Traffic counts

Custom Aerial Photography

• Trade area aerials showing competitors and market drivers

• Site plan overlay on aerials

• Site distance calculations from competitors and existing locations

Finally, Read King Medical Development will negotiate a contract on the property and lease with the client.

Project FinancingRead King, as a retail developer, has built and financed over three million square feet of retail property since its inception. Through these efforts we have created relationships with almost every viable source of capital available to retail and build to suit development. These relationships, the strength and expertise of the developer and the tenant, the fundamentals of the site, and the existence of an executed lease, all play an important role when structuring financing for a build to suit facility. When these fundamentals are presented to lenders as a build to suit program the most cost effective financing becomes readily available. By providing the best available financing, Read King Medical Development delivers quality facilities with the lowest possible occupancy costs.

Kingwood

8.00 mi

LakeHoustonTarget

Trade Area

8

MARKET AERIAL

TRADE AREA AERIAL

GustafsonDental

SITE 5

SITE 4SITE 1

SITE 2SITE 3

412 units

8

SITE SPECIFIC AERIAL

SITE: Park Lakes

GustafsonDental

8

DEVELOPMENT MARKETS

Development Services

ID TASK NAME DURATION START FINISH

1 Timeline 206 days Mon 9/12/11 Wed 4/4/12

2 RKMD - Site Selection 80 days Mon 9/12/11 Wed 11/30/11

3 Tour Market 1 day Mon 9/12/11 Mon 9/12/11

4 Analyze Sites & Prepare Market Summary 3 days Tue 9/13/11 Thu 9/15/11

5 Present Sites to Client 1 day Sat 9/17/11 Sat 9/17/11

6 Prepare Budget & Market Analysis 13 days Sun 9/18/11 Fri 9/30/11

7 1 day Mon 10/3/11 Mon 10/3/11

8 Negotiate Land Contract 12 days Mon 10/3/11 Fri 10/14/11

9 Lease Negotiation & Execution 30 days Mon 10/3/11 Tue 11/1/11

10 Feasibility & Close Period 45 days Mon 10/17/11 Wed 11/30/11

11 RKMD - Design & Construction 171 days Mon 10/17/11 Wed 4/4/12

12 Architectural & Engineering Plans 43 days Mon 10/17/11 Mon 11/28/11

13 Contractors' Bids 12 days Mon 11/28/11 Fri 12/9/11

14 Value Engineer 10 days Tue 12/13/11 Thu 12/22/11

15 Select Contractor 6 days Thu 12/22/11 Tue 12/27/11

16 Permitting 30 days Mon 11/28/11 Tue 12/27/11

17 Shell Construction 100 days Tue 12/27/11 Wed 4/4/12

SEPTEMBER OCTOBER NOVEMBER DECEMBER JANUARY FEBRUARY MARCH APRIL

Task

Progress

Milestone

Summary

Project Summary

External Tasks

External Milestone

Deadline

Page 1

Project: ScheduleDate: Thu 9/29/11

Present Site Proposal Package

MOB DEVELOPMENT TIMELINE: EXAMPLE

3. BUILDING DESIGN

Integrated into Site Design is the Building Design. At this stage Read King Medical Development can coordinate the design of the shell (exterior of the building with utilities provided to perimeter) or both the shell and interior. We work with the Client to select the best Architect to fit the project, and review the drawings together until production of a final set is complete. 4. PERMITTING

Read King Medical Development manages the Permit acquisition process by working with our consultants to ensure every jurisdictional comment is promptly answered.

5. CONSTRUCTION

Read King Medical Development manages the contractor selection process, schedules, and budgets. Detailed weekly construction reports are delivered to the Client including photos and updated schedules so that progress can be tracked from off-site. Read King Medical Development develops its own punch list prior to walking the completed site with the Client. The Client’s remaining punch list items are then satisfied.

Read King Medical Development realizes that the changing healthcare climate is about a high standard of care and speed to market. The Affordable

Care Act (ACA) has opened many opportunities to the healthcare industry and we want to insure that our clients capitalize. We actively begin the

development process during Site Selection by analyzing construction feasibility at the onset. We intently continue until the building is 100% complete

through collaboration with the entire project team to accelerate the project’s execution.

6. DELIVERY TO CLIENT

The keys and the building are turned over. Read King Medical Development delivers the building’s handbook, including warranties, operating manuals, and service contact information. If the Client leases the building from Read King Medical Development, then our Property Manager works with the Development team to seamlessly transition to building maintenance and operation.

Once the best site is chosen, the DEVELOPMENT PROCESS is broken down into 6 steps.

1. DUE DILIGENCE

Read King Medical Development continues the process initiated during Site Selection by finding out everything possible on and around the existing site. We work with our trusted consultants, including Civil Engineers, Architects, Surveyors, Environmental Consultants, and Geotechnical Engineers to make certain that all construction and design challenges are properly addressed. We meet with the appropriate City/County staff and any other regulatory body to review the project’s scope. Contact is made with all utility companies to ensure that services are available or can be made available. Read King Medical Development also manages all legal and title issues associated with the property.

2. SITE DESIGN

Read King Medical Development meets with the Client and begins the design process based on a multitude of factors to optimize the site for the Client’s specific needs. This step typically starts during the Due Diligence period so that while investigating utilities, restrictions, and city requirements, the proper questions can be answered. All parking, grading, access, utility, landscaping, lighting, and drainage designs are addressed.

ID TASK NAME DURATION START FINISH

1 Timeline 206 days Mon 9/12/11 Wed 4/4/12

2 Read King - Site Selection 80 days Mon 9/12/11 Wed 11/30/11

3 Tour Market 1 day Mon 9/12/11 Mon 9/12/11

4 Analyze Sites & Prepare Market Summary 3 days Tue 9/13/11 Thu 9/15/11

5 Present Sites to Client 1 day Sat 9/17/11 Sat 9/17/11

6 Prepare Budget & Market Analysis 13 days Sun 9/18/11 Fri 9/30/11

7 1 day Mon 10/3/11 Mon 10/3/11

8 Negotiate Land Contract 12 days Mon 10/3/11 Fri 10/14/11

9 Lease Negotiation & Execution 30 days Mon 10/3/11 Tue 11/1/11

10 Feasibility & Close Period 45 days Mon 10/17/11 Wed 11/30/11

11 Read King - Design & Construction 171 days Mon 10/17/11 Wed 4/4/12

12 Architectural & Engineering Plans 43 days Mon 10/17/11 Mon 11/28/11

13 Contractors' Bids 12 days Mon 11/28/11 Fri 12/9/11

14 Value Engineer 10 days Tue 12/13/11 Thu 12/22/11

15 Select Contractor 6 days Thu 12/22/11 Tue 12/27/11

16 Permitting 30 days Mon 11/28/11 Tue 12/27/11

17 Shell Construction 100 days Tue 12/27/11 Wed 4/4/12

SEPTEMBER OCTOBER NOVEMBER DECEMBER JANUARY FEBRUARY MARCH APRIL

Task

Progress

Milestone

Summary

Project Summary

External Tasks

External Milestone

Deadline

Page 1

Project: ScheduleDate: Thu 9/29/11

Present Site Proposal Package

KEY POINTS OF SERVICE

At Read King, our key points of service help real

estate owners reduce their operating costs and

enhance property values - all while maintaining a

first class environment for tenants.

Our expertise in tenant satisfaction and retention,

security, budgeting, expense control and center

maintenance helps provide you with a place in

which you are proud to do business

REPORTING TO OWNER

Read King takes a proactive approach to all property management objectives, treating each property as if it were our own. We prioritize tenant satisfaction and expense control in order to preserve and extend the property’s viability as a profitable investment.

Internally generated performance reports highlight and summarize key issues, break down asset performance and help you achieve your financial objectives.

Asset Management

INTEGRATING RESPONSIBILITY INTO EVERY

PHASE OF OUR PROCESS

Customize the level of service to fit your needs.

Accounting & finance

Lease & contract administration

Budget & reconciliation management

Center maintenance

Manage tenant relationships

Reporting to owner

At Read King we believe property management begins with strong

relationships. Relationships with the owner, tenant and service providers

are all essential to the success of a shopping center. With Read King,

you will not just get a “property manager” that comes and goes within a

company, but a “partner” that will work diligently to maximize the value of

your real estate investments on an ongoing basis.

OUR APPROACH

Read King is among the top property management firms throughout Greater Houston. With over 30 years of experience as a retail and medical developer, our property management philosophy and methods reflect our unique understanding of landlord expectations and tenant needs.

Our goal is that you maximize your return on investment through Read King’s daily attention to the details of operating your facility. The ultimate measure of our success is to earn the management contract for the life of your property. You can be assured that we combine property management best practice with the highest standards of professionalism and integrity.

OUR REACH

Read King employs a full staff of qualified professionals with local, regional and national expertise. We have the capacity to manage any size portfolio across the Southwest, no matter how large or small. Our firm’s expertise includes over seven million square feet of shopping center and medical facility management with dozens of grocery and big box anchors across our portfolio.

OUR PROPERTY MANAGEMENT

TRACK-RECORD INCLUDES OVER SEVEN

MILLION SQUARE FEET OF SPACE IN

PROPERTY SIZES RANGING FROM

15,000 TO 1.2 MILLION SQUARE FEET.

“I was really impressed by Read King’s experience,

knowledge and passion for what they do...their prompt attention

to matters, willingness to meet with and get to know the tenants,

service provider ideas and contacts in Houston helped

make the acquisition of the center easy and enjoyable.”

Rusty Richardson Executive Vice President - GBR Properties, Inc.

Clients in our portfolio include:

VINTAGE MARKETPLACE

Whole Foods Market anchored shopping center located at the intersection of Louetta and Cutten in northwest Houston, TX. Tenants include: Sub Zero, MOD

Pizza, Kriser’s, Orangetheory Fitness and Pei Wei.

TEAS CROSSING

Teas Crossing is a JC Penney anchored retail center located at the northwest corner of I-45 and Teas Rd (FM 3083) in Conroe, Texas. Cotenants include JC Penney, Firehouse

Subs, Olive Garden, Massage Envy and Merrill Lynch.

CROSSROADS PLAZA

±150,000 SF shopping center located at the intersection of Highway 290 and FM 1960. Tenants include: Academy Sporting Goods,

Staples, Luby’s, Genghis Grill and La Madeleine.

5 8 5 0 S A N F E L I P E , S U I T E 4 9 0 , H O U S T O N , T X 7 7 0 5 7

T 713 . 7 8 2 . 9 0 0 0 www.readkingmd.com