CORPORATE PROFILE

McRae Mortgage & Investments, LLC (MMI) is a private regionally based real estate investment and mortgage banking firm. The company was established in February 1994 and is an Arkansas limited liability corporation. The founder and owner is Kenneth G. McRae, IV. Corporate offices are in the Morgan Keegan building located at 100 Morgan Keegan Drive, Suite 420.

The principal activities of the company are: the financing of institutional quality income producing real estate and the purchase of real estate investments.

Mortgage banking services include the underwriting, origination, placement and servicing of commercial real estate mortgage loans. Typical loans are amounts of $1 million or higher secured by shopping centers, apartments, office buildings, nursing homes and related income producing property. The company represents a variety of institutional investors including pension funds, insurance companies, commercial banks, conduits and governmental agencies. McRae Mortgage & Investments is registered with the Arkansas Securities Commissioner as an approved mortgage lender and is a member of the National and State Mortgage Bankers Association.

Private real estate investment transactions include bulk asset transactions from life insurance companies, individual sales, and single corporate real estate sales. Each transaction is structured separately and conducted on a confidential basis. Real estate transactions include, vacant land, apartments, retail centers, farmland and triple-net leased real estate.

Prior to the formation of MMI, Mr. McRae was a founding partner of Wilson & McRae. Inc. with Robert M. Wilson, Sr. This company was established in June 1988 and provided mortgage banking and real estate services on a similar scope and scale.