We believe that while real estate markets are cyclical, there will always be opportunities for disciplined managers to generate superior returns for investors. Real estate is a unique, multi-disciplinary industry, which presents opportunities for exceptional risk-adjusted returns. Through careful analysis and detailed business planning, positive factors can be enhanced and negative factors reduced, to improve the odds of generating superior returns for our investors and principals.

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Parmenter Realty Partners has a long and outstanding track record as a value-added real estate investment manager. Our proven investment strategy is to purchase under-performing assets at prices below replacement cost, to utilize our development and operating expertise to renovate and upgrade the facilities, to stabilize and increase tenant occupancy and rental rates, to provide in-house property management and leasing services, and then to divest these assets at the appropriate time to institutional buyers.

We execute this strategy by combining our knowledge of target markets with an understanding of the real estate development business and the capital markets. In general, the principles of our investment strategy are to:

• Acquire properties with sound fundamentals
• Purchase assets at discount or replacement value
• Purchase assets in need of redevelopment or repositioning where we can leverage our experience to create value
• Develop exit strategies before purchasing a property
• Purchase real estate subject to seller pressure or other value-enhancing variables
• Diversify our holdings to mitigate risk
• Be entrepreneurial and creative
• Manage the bottom line

We prefer to be in major urban areas, typically metropolitan statistical areas (MSAs) of 1,000,000 people or more. We look for cities with strong underlying growth in income and population. Throughout the investment process, we align our interests with those of our investors.

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