Commercial Real Estate Investingin South Florida

SAVI Investment Partners II LLCManaged Account Program Investment Proposal

DisclaimerThe Shares / Participations have not been, and will not be, registered under the Securities Act of 1933 or the securities laws of any state or non-U.S. jurisdiction and are being offered and sold in reliance on exemptions from the registration requirements of the Securities Act of 1933 and such laws. The Managed Account has not been and will not be registered under the Investment Company Act of 1940. The Manager is not registered as an investment adviser under the Advisers Act of 1940, or the securities commission of any state or other jurisdiction, and the Manager does not intend to so register in the future. The Shares have not been approved or disapproved by the US Securities and Exchange Commission (the “SEC”), the US Commodity Futures Trading Commission (the “CFTC”), any state securities commission or other regulatory authority, nor have any of the foregoing authorities passed upon or endorsed the merits of this offering or the accuracy or adequacy of this Information Memorandum. Any representation to the contrary is unlawful. The Managed Account’s Board of Directors may arrange the offer and sale of Shares / Participations to a limited number of US persons as defined

under Regulation S of the Securities Act of 1933 (each, a “Permitted US Person”), in transactions which are exempt from the registration requirements of the Securities Act of 1933 and the Investment Company Act of 1940 and under circumstances designed to avoid the assets of the Managed Account from becoming “plan assets” for the purposes of the United States Employee Retirement Income Security Act of 1974, as amended (“ERISA”).

Investments in the Managed Account are subject to significant risk. There is no assurance that the Managed Account’s investment objectives will be achieved, and results may vary substantially over time. For a more detailed description of the investment strategies and risk, see “Risk Considerations” as well as all other terms and conditions contained within this Information Memorandum.

A proven investment firm • Founded in 2002, The SAVI Group is an investment

management firm specializing in real estate asset management and private equity opportunities for qualified investors.

• The SAVI Group has transacted more than 3,000,000 square feet of real estate investment opportunities.

• The SAVI Group has significant experience in industrial and logistics centers with over 1,575,000 sq.ft in transactions.

• The SAVI Group management team has over 12 years of combined real estate industry experience.

• The SAVI Group has unusual off market access and first pick to opportunities.

“You will want to do business with us based on our 10 years of successful experience, knowing what we are doing and making other investors more

wealthier” - SAVI

“We follow our mentor’s advice: “Son, the secret to my success was that I always gave back every dollar plus the promised return to my equity

partners” - Advice by Gerald Hines to SAVI in 2002

SAVI’s successful investment performance till date stems from a methodical and disciplined investment approach combining operating expertise, deep industry knowledge, and experience.

Performance Metrics since 2010• Total amount of Capital deployed $10,821,134 in 18 deals

- Total Outstanding Principal Balance (UPB) acquired approximately $35MM

- Average discounted acquisition Loan to Cost 32%

VisionProduce consistent above average absolute returns by acquiring performing commercial real estate to take advantage of current market conditions in selected Metropolitan Statistical Areas.

• Target net returns: a minimum of 6.00%+ yield per transaction, independent of global financial market performance.

• Target exit time frame: 5 to 10+ years

• Flexible process maximizes investor’s return. The SAVI Group offers this flexibility due to its combination of financial and operational experience allowing for multiple acquisition scenarios:

1) Loan Acquisition Modification of distress investor positions2) Asset Acquisition Repositioning through intensive management program3) Core Stabilized Asset Acquisition

• Geographical delimitation:

- Primarily; South East Florida

- Secondary; Florida

• Location within MSA must be centric or within class AAA, AA, A, BBB, BB, B assets of strategical significance

• Any acquired asset must be able to cover operating costs

How we are doing it!

Capitalizationof Structure

Identificationof Asset

Investor Approval

Due Diligence &Acquisition

Asset Life Cycle

Active AssetManagement

Disposition

through SAVI Investment Partners I LLC

• The SAVI Group is able to directly take control o f t h e a s s e t s w h i c h a re off m a r k e t investments.

• Proven investment method which mitigates and protects the invested capital.

• Successful track record of transactions.

Why invest with The SAVI Group

SAVI principals have a ten (12) year track record on the targeted asset classes allowing SAVI to:

i. Have unusual off market access and first pick to opportunities via an extensive network of industry relationships: bankers, brokers, attorneys and accountant firms.

ii. Have a competitive advantage in pricing, operational and capital expenditures given SAVI principal’s development and construction background and resources.

iii. Have access to restr icted auction l ist opportunities.

iv. Have significant work-out experience with over $30MM in face value portfolio transacted under SDI.

Why invest?

Model Valuation Strategy2007 Asset Value

2013 Outstanding Principal Balance

2013 Asset Market Value

2007-2013 Asset Value Differential

2013 Asset or NoteAcquisition Cost

Value captured at purchase

2013 -2015 Repositioning Cost

2012 - 2022 SAVI Value Creation

Gain realized on exit

Structure Highlights

Structure designed for investor’s peace of mind

• Investor has 100% membership control

• Structure designed from investor’s perspective

• SAVI shares after the preferred return is achieved

Investor’sOff Shore Entity

SAVI Investment Partners I LLCOperating Partner

Management Agreement

Investment OpportunityManagementValue Creation

PortfolioLoan

2.5% AUM Asset Management Fee

50% of Upside

8.0% CumulativePreferred Return50% of UpsideOff Shore

USA

Investor’sUSA Entity

Summary of Indicative Term Sheet • On Going Cash Flow Distribution

i. Min 6.0% Cash on Cash return to the investors.

• Waterfall Distribution on Exit

i. 8.0% Cumulative Preferred return to the investors.

ii. 50/50% Split after 8% ROI Capital is achieved

• Other Considerations

i. The invested capital shall be committed for a period of 5 to 10+ years.

ii. The operating agreement terms are negotiable. The SAVI Group will have discretionary funding abilities after Investor’s deal approval.

• Asset Management Fees

A 2.5% Asset Management Fee based on Asset Under Management (AUM) valuation.

(See Additional Information Document for a complete explanation of Indicative Term Sheet)

References

References (Upon Request)

Ted. T. Awerkamp - President & CEO, Mercantile Bancorp Inc - MBWM (NASDAQ)

Jean-Charles Dibbs - Partner, Real Estate, Shutts & Bowen LLP

Jorge Irizarry - Former President, Government Development Bank of Puerto Rico

Claudio Zichy - Managing Director, Independencia Asset Management LLC

Jean-Pierre Trouillot - Partner, Transactions & Restructuring, KPMG LLP

Michael D. Wohl - Partner, Pinnacle Housing Group

Team Members

TextText A seasoned investment team combining operating

capability, deep industry knowledge, and experience

About Santiago VitaglianoManaging Principal - Business Development, Marketing and Operations

Mr. Vitagliano has more than 15 years in the private equity and real estate industries at various senior executive levels. He specializes in the structuring, marketing and execution of commercial and residential real estate development projects in both domestic and international contexts. Vitagliano funded The SAVI Group in 2002; since that time, he has held principal positions in multiple real estate investments and intermediated transactions totaling more than 3,000,000 square feet. Prior to The SAVI Group, Vitagliano worked as the assistant project manager at Hines and developed a 540,000-square-foot mixed-use Class A office tower and parking deck in Coral Gables, Florida. In addition, he spent two years working for The SABRE Group, where he held positions in

corporate management, project development and business reengineering in Dallas, London, France, Austria and Germany. In these capacities, Vitagliano worked in structuring, marketing and implementing logistic solutions for the airline industry. He holds an MBA from the University of California’s Haas School of Business and a Master of Science in Industrial Engineering degree from Universidad Católica de Argentina, Facultad de Ciencias Fisicomatemáticas e Ingeniería

About Jonathan MassianiManaging Principal - Investor Relations

Mr. Massiani is the founder of MASSI Group a financial consulting boutique firm with strong ties to Latin America, specializing in the intermediation of private equity deals both locally and in international markets. The MASSI Group represent great business opportunities from a long line of clients seeking help to grow their businesses.

Mr. Massiani has a long history of entrepreneurship as founder of Momento Movilpoint C.A a B to C communications and celular company which was a pioneer in the industry in Venezuela. Prior to founding the MASSI group, Mr. Massiani worked for major telecommunication companies in the 1990’s as well as in real estate developments in Latin America which allowed Mr. Massiani to develop a strong business network.

In addition Mr. Massiani worked for four years in the banking industry as a Junior Trader at Invermercado Casa de Bolsa. During his earlier carrer Mr. Massiani was a member of the creative team for several Creative and Publicity Agencies such as Televen and Vapro.

Mr. Massiani has a BA in Business Administration at Universidad Metropolitana. In addition he has post graduate studies in Marketing and Communications.

Previous Deals

The SAVI GroupCommercial Asset Management Experience

Deal Location Total Square Feet Total Capital Type Role Main Investors

2525 Ponce de Leon Blvd Coral Gables, FL 254,119 67,000,000$ Mixed Use / Office Developer Hines U.S. Development Fund

Mills Lake Plaza Center Green Acres, FL 131,236 6,370,000$ Retail Asset Manager Del Viso LLC / Private Equity

Lake Charleston Center Lake Worth, FL 21,966 3,062,705$ Retail Asset Manager Charleston Center LLC / Private Equity

General Mills Distribution Facility Social Circle, GA 1,500,000 54,000,000$ Industrial Deal Structuring Rockefeller Group / Independencia SA

Empire Sea Food Medley, FL 120,000 4,500,000$ Industrial Deal Structuring

The Pearl Bay Harbour, FL 62,000 8,000,000$ Multifamily Developer / Advisor High Net Worth Investor

Midtown Townhouses Miami, FL 27,000 3,000,000$ Multifamily Developer / Advisor High Net Worth Investor

Altos de Miami Miami, FL 135,000 21,000,000$ Residential Developer / Advisor B Developments / Prudential / Lehman Brothers

Terrazas River Park Village Miami, FL 345,000 120,000,000$ Residential Developer / Advisor B Developments / iStar / Lehman Brothers

5650 Breckenridge Parkway Tampa, FL 85,000 4,000,000$ Office Deal Structuring Offshore Investors

2,681,321 290,932,705$

*List is not all inclusive there are a significant number of deals purposely left out as SAVI's role was secundary or deal size was irrelevant to this list

The SAVI GroupResidential Asset Management Experience

Deal Location Total Square Feet Total Capital Type Role Main Investors

The Pearl Bay Harbour, FL 62,000 8,000,000$ Multifamily Developer High Net Worth Investor

Midtown Townhouses Miami, FL 27,000 3,000,000$ Multifamily Developer High Net Worth Investor

Altos de Miami Miami, FL 135,000 21,000,000$ Residential Developer B Developments / Prudential / Lehman Brothers

Terrazas River Park Village Miami, FL 345,000 120,000,000$ Residential Developer B Developments / iStar / Lehman Brothers

569,000 152,000,000$

Head OfficeThe SAVI Group1111 Lincoln Road, 4th FloorMiami Beach, Florida 33139USAD +1 305.812.7205W www.savigroup.com

SANTIAGO VITAGLIANOManaging PrincipalSantiago@savigroup.com