SELECT: Office ------------------------ Kearny South Bay Business Park (X-Nissan Campus) Warner Center Business Park Warnerview Corporate Center 1700 Walnut Torrey Pines Science Center Calabasas Courtyard Vaca Valley Business Park 6330 San Vicente Los Angeles Air Force Base Pasadena Corporate Park Grand Avenue Corporate Center Infonet Build-to-Suit Scripps Northridge Corporate Center Nokia Build-to-Suit Industrial ------------------------ Kearny Industrial Fund Heritage Corporate Center Ocean View Hills Corporate Center 42301 Zevo Drive - Temecula Industrial Bakersfield Airport Business Center City of Industry Otay Crossings Commerce Park Otay Mesa Industrial Century Business Center at Hawthorne Airport Nuevo Business Park Seacliff Business Center Westside Business Centre Remington Business Center Scotts Build-to-Suit Portfolios ------------------------ Distressed Debt Focus Hawthorne Airport Heritage Corporate Center Chevron Land Portfolio Kearny Street Portfolio Union Bank and IBJ Portfolios  Distressed Debt Focus   Kearny has $1.8 billion experience in acquiring, managing and creating value with non-performing loans. Kearny also has $3.6 billion in experience as a real estate operator and developer. Kearny is very versatile and unique given our operating and work-out experience. mm's # Borrowers 1993 Kearny Real Estate Company Portfolio $1,400 12         1994 Industrial Bank of Japan Portfolio 72 7         1994 Union Bank Portfolio 240 22         2002 Heritage Corporate Center Loan 55 1         $1,767 *Additionally in 1997 J Dritley was lead for MSREF in buying and working out a $300mm non- performing loan on Playa Vista. The distressed residential opportunities are front page news. Distressed debt for commercial properties, including land, is coming. Commercial is Kearny’s power alley. The markets will overshoot significantly on the downside and 2009-2010 will present attractive opportunities. Acquisition Criteria $10mm+ loans on commercial properties including land in Southern California (whole loans, mezzanine loans, participations, defaulted CFD’s and “stalking horse” BK bids) $25mm+ loans on commercial properties in Western United States $50mm+ portfolios with concentration on West Coast Joint Venture – Kearny will also acquire portions of loans/portfolios and manage and own them in a joint venture structure with the seller. Third Party Services - Providing receivership for non-performing loans, asset and/or property management services for bank REO. Kearny has been involved in $3.6 billion of real estate transactions during the cycles of the last 15 years and can bring that versatility and experience to bear as a service provider.
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