cCARE | Offering Memorandum

M A R K E T

LEASE COMPARABLES

Start Rent Effective Rent

Term (Mos) Free Months Rent Escalations Sublease (Yes/No) Space Build Out

TI Allowance Tenant TI Load Factor Previous Location Industry Type $0.00 $0.00 6.00 Renewal Health Care $82.50 $0.00 13.00 New to Market Health Care $70.00 $0.00 - New Health Care $0.00 $0.00 - New Health Care $70.00 $0.00 - New Location Health Care $10.00 $0.00 17.60 Escondido Health Care

Property Name Address City State Zip Submarket

Class Date Leased Deal Type Floor

Leased SF Lease Start Lease Expiration

Tenant Landlord

Rent Type Base Year Op. Ex. or NNNs Total Consideration

$4.04 $4.04 FS 2019 $0.00 $902,309 $3.55 $3.71 +U+J 2019 $0.00 $6,304,376

24 0.0 0% No Second 126 6.0 3.00% No Second 63 4.0 3.00% No Second

B 05/08/2018 Renewal 1

17190 Bernardo Center Dr. San Diego, CA 92128 Rancho Bernardo

9,306 05/01/2019 04/30/2021

Surgical Care Affiliates The Blackstone Group LP

1.

Excel Centre at Park Terrace 17140 Bernardo Center Dr., Ste. 300 San Diego, CA 92128 Rancho Bernardo

A 09/30/2018 New 3

Rogers Behavioral Health Kayne Anderson Real Estate Advisors

13,489 04/01/2019 09/30/2029

2.

$2.83 $2.84 NNN (0.70/SF) -- $10,267,872 $3.47 $3.55 NNN ($0.95/SF) 2018 $0.75 $211,954 $2.95 $3.47 NNN ($1.00/SF) 2019 - $46,825,652 $3.00 $3.00 NNN ($0.70/SF) 2017 $0.91 $662,070 $3.00 $3.09 NNN ($0.70/SF) - $0.70 $223,265 $3.15 $3.15 NNN ($1.00/SF) - $0.00 $175,996

UCSD 16950 Via Tazon San Diego, CA 92127 Rancho Bernardo

B 12/31/2017 New 1

57,420 09/01/2018 11/30/2023

UCSD The Granum Family Trust

3.

30 0.0

4S Health Center 16918 Dove Canyon Rd., Ste. 102 San Diego, CA 92127 Rancho Bernardo

A 07/01/2018 New Lease 1

1,988 08/01/2018 01/31/2021

PeakLogic, Inc. Finest City Real Estate

4.

3% No Second

180 7.5 2.75% No New

Palomar Health Outpatient Center - Phase I 2125 Citracado Parkway Escondido, CA 92029

Palomar Health ERTC Medical Office Development I, LP, a California LP

A 01/30/2017 New 1

75,000 1/1/2018 12/31/2033

5.

60 0.0

B 11/01/2017 New Lease 3

Makena Medical Center 1955 Citracado Pkwy, Ste. 301 Escondido, CA 92029

3,464 12/01/2017 11/30/2023

Hidden Valley Eye Associates Douglas E Barnhart

6.

3% No Second 60 2.0 3.00% No Second 36 0.0 0.00% No Second

$18.00 $0.00 10.00

A 07/12/2017 New 2

Garden View Court 700 Garden View Ct., Ste. 204 Encinitas, CA 92024

1,206 09/01/2017 08/31/2022

TMS Centers of America Grace Partners

7.

New Office Health Care

$0.00 $0.00 12.90 Renewal Health Care

Los Coches Village Medical 3257 Camino de los Coches Ste. 201 Carlsbad, CA 92009

A 08/24/2017 Renewal 2

Quest Diagnostics Peter Splinter Family Holdings, Inc.

1,552 07/11/2017 07/10/2020

8.

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OFFERING MEMORANDUM