SUCCESS FACTORS

The factors that distinguish Miller Frishman Group’s success in buying, selling and syndicating equities include:

• Valuation Expertise – Skillful valuation of a property requires more than commissioning and reviewing an appraisal. Valuations that can be relied upon are predicated on not only what a ready, willing and able purchaser will pay for the property, but should also include what owning the property could yield over future years. This requires a great deal of experience in all property sectors as well as a detailed and sensitive analysis of the specific conditions in the property’s geographical market or micro-market.

• Broad Market Exposure – Because the principals and associates have had tremendous exposure to a wide variety of markets, they have exceptional abilities to distinguish between high-growth and low-growth areas and identify the viability of specific properties in specific markets, as well as to ascertain future viability.

• Financing - Extensive experience and sophistication in the financing markets help Miller Frishman Group realistically determine how financing will be structured as well as how much equity and reserve will be necessary to operate a given property going forward.

• Range of Capabilities – The company's full range of capabilities, including developing, financing, constructing, managing and leasing properties, as well as closing multiple acquisitions in various markets over the course of 30 years, has provided tremendous experience in all aspects of acquiring, improving, owning and operating properties.

• Longevity – Decades of experience through multiple real estate cycles with markets and property types across the U.S. enable Miller Frishman Group to make efficacious judgments about when to buy properties, when to hold them and when to sell.