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Providing Access To Opportunity

S Y N D I C A T E D E Q U I T I E S / 1


Syndicated Equities is a national real estate investment firm that provides individuals and family offices with access to institutional quality, commercial real estate investments. Since 1986, the firm has developed an expertise in co-investment ownership, net-lease brokerage services, global real estate opportunity funds, and more recently, qualified opportunity zone funds. Based in Chicago, with offices in Salt Lake City and Washington, DC, Syndicated offers its clients strategic, income-producing real estate opportunities in all asset classes, resulting in a diversified portfolio of real estate holdings. Long-standing national relationships with real estate operating partners, developers, law firms, qualified intermediaries, accounting firms, and financial advisors present Syndicated with an extensive array of investment opportunities and clients. To date, Syndicated has made well over one hundred investments representing over $500 million of equity and $4 billion of total asset value.

For over three decades, Syndicated has provided opportunities for individuals seeking real estate investments, including those seeking replacement property for Section 1031 tax-deferred exchanges. Syndicated identifies well-located, income producing assets that are professionally managed by our operating partners and our internal asset management team. We believe that institutional quality real estate is essential to a well-diversified portfolio and is critical in creating and preserving personal wealth.

The firm invests in each opportunity offered to clients, and we consider this alignment of interests a clear indication of our careful due diligence, commitment to the property, and overall integrity. The firm’s team of highly experienced professionals monitor the performance of each asset to maximize returns and preserve capital for investors.

Syndicated seeks outright acquisitions as well as joint venture opportunities with owners and operators who wish to maintain ownership and management interests. Syndicated has joint venture relationships with more than 20 nationwide operating partners, all of whom bring property-specific expertise to the firm’s holdings.

1031 EXCHANGE DEFINED

Section 1031 of the Internal Revenue

Code affords investors the ability to

defer capital gains taxes on the sale of

investment real estate by exchanging the

proceeds into like-kind assets. Syndicated

Equities works closely with 1031 investors

to understand each client’s personal

goals and provide professional

investment recommendations.

2 / S Y N D I C A T E D E Q U I T I E S

OUR INVESTMENT PLATFORMS

CO-OWNERSHIP SYNDICATIONS

Syndicated Equities’ co-investment ownership allows investors to own fractional or partnership interests in institutional-quality,

commercial properties.

OPPORTUNITY ZONES

Syndicated Equities has formed a strategic relationship with two best-in-class fund operators, Cresset and Decennial

Group, to provide investors with access to Qualified Opportunity Zone investments. Qualified Opportunity Zones were created to encourage long-term investment into low-income and emerging

communities through tax incentives.

NET-LEASE BROKERAGE

Syndicated Equities provides investors with access to nationwide credit tenant, net-lease properties. These assets are ideal for individuals who are interested in purchasing property

outright, either as a 1031 exchange replacement property or as a new equity investment.



INVESTMENT PLATFORMS

CO-INVESTMENT OWNERSHIP

Syndicated Equities’ co-investment ownership allows investors to own fractional or partnership interests in institutional-quality commercial properties. These offerings are structured to accommodate both new equity and 1031 exchange investors pursuing stable, income-producing real estate to diversify their investment portfolios. Investors purchasing fractional interests obtain all the benefits of owning quality real estate without the daily responsibilities of operating the asset.

Benefits of Co-Investment Ownership

Investment Management

Syndicated Equities completes all contract negotiations, due diligence, financing, and closing requirements for each co-investment transaction. Its team of experienced professionals oversees the complexities of each investment.

Stable Cash-on-Cash Return

Investment opportunities with credit tenants and long-term leases, often at “Main and Main” locations, historically generate continuous and reliable income streams and have strong potential for appreciation over time.

Simplicity of Ownership

Syndicated Equities facilitates all maintenance, income/expense administration, financing, and mortgage and tax payments for each property. Free from management responsibilities typically required of a real estate owner, investors participate in all cash flow distributions, appreciation, depreciation benefits, and sale proceeds.

Asset Management

Active and prudent stewardship of investors’ capital is the mission of Syndicated Equities’ co-investment program. By investing alongside its clients, the firm ensures its interests are aligned with those of its investors. Portfolios are carefully monitored by the expert asset management team in collaboration with Syndicated Equities’ operating partners. Comprehensive reporting is provided to all investors.

Asset Diversification

Syndicated Equities current portfolio consists of more than 65 properties including single- and multi-tenant retail, office, medical, industrial, parking structures, hotels, student housing, and multi-family assets.

SNAPSHOT OF OFFERINGS

• Tenant-In-Common (TIC), Delaware Statutory Trust (DST) and Land Trust sponsor

• Fractional and limited partnership interests

• Consistent cash flow

• Capital preservation

• Nationally diverse portfolio

• Professional management

• Passive ownership

• 1031 Exchange or new equity investment


Acquisitions

Syndicated Equities seeks outright acquisitions as well as joint venture opportunities with owners and partners who wish to maintain ownership/management interests in existing properties nationwide. Joint venture relationships with more than 20 operating partners bring property-specific expertise to the firm’s holdings.

Acquisition Criteria

• Single and multi-tenant properties/portfolio transactions • Retail, office, government, industrial, and medical • Hotels • Multifamily and student housing • Parking structures • Stabilized, value-add, and redevelopment opportunities • $8 - $100 million • Primary and select secondary markets

Retail 11

Medical 6

Hotel 8

Government 10

Office 8

Parking Structures 2

Student Housing 2

Multifamily 6

Warehouse/Industrial 4



NET-LEASE BROKERAGE

Syndicated Equities provides investors with access to nationwide credit tenant, net-lease properties. These assets are ideal for individuals who are interested in purchasing property outright, either as a 1031 exchange replacement property or as a new equity investment.

Guaranteed by credit tenants, net-lease properties are conservative real estate investments that generate steady, long-term income without the responsibility of day-to-day management. Tenants assume the obligation to pay real estate taxes, insurance, and building maintenance costs. Financing for these properties is available on a non-recourse basis with proceeds ranging from 50% to 75% of the purchase price. Commercial properties of this type are frequently leased to national or regional retailers such as Walgreens, CVS, Wal-Mart, Home Depot, AutoZone, Starbucks, Costco, Bank of America, Goodyear, Bridgestone/Firestone, and FedEx.

SNAPSHOT

• 100% investor ownership

• Consistent cash flow

• Capital preservation

• Nationwide inventory

• Ease of management

• Dependable income

• 1031 Exchange or new equity investment

FOCUS

• Newly constructed and existing properties

• $1MM – $100MM

• Private, sub-investment, and investment grade tenants

• Medical, retail, office and industrial


PRINCIPALS

Syndicated Equities’ team of professionals have broad experience in multiple areas of real estate investment, including finance, 1031 exchange transactions, institutional advisory services, development, brokerage, leasing, and asset management. This expertise is continuously called upon as new opportunities are evaluated and existing portfolio assets are managed.

Richard KaplanFounder and CEO

A leader in Chicago and national real estate markets for over 45 years, Richard founded Syndicated Equities in 1986. Under his leadership, the firm has acquired approximately

$4 billion of real estate assets on behalf of its investors. These assets include retail, government, student housing, office, parking, and hotel properties throughout the country.

Over 20 years ago, Richard recognized a niche market when experiencing difficulty identifying quality, net-leased properties within the limited IRS timeframe when completing a 1031 Exchange. He directed Syndicated Equities’ focus to serve this market segment. To further the scope of investment opportunities, Richard initiated the Syndicated Access Fund Platform, a $60 million fund of funds designed to provide individuals with access to the exclusive world of Global Investment Opportunity funds.

Frequently quoted in national and local real estate publications, Richard has spoken on a wide variety of topics at Northwestern University, University of Illinois, DePaul University, Loyola University, the Chicago Real Estate Board, Francis W. Parker School, The Latin School, and the Chicago Bar Association. He also participates in numerous roundtables for industry, law, and accounting forums and is an active participant in Chicago’s real estate, business and philanthropic communities.

Matt McCulloch Managing Partner, Washington, DC

Matt McCulloch is a Managing Partner at Syndicated Equities and is based in Washington, DC. Matt joined the firm in Chicago in 2001. Matt

manages the firm’s acquisition program, where he coordinates the due diligence, structuring and financing of investment transactions. Matt has been principally involved in all of the firm’s transactions, which include retail, government, student housing, net-leased, office, parking, and hotel properties throughout the country. Additionally, Matt works closely with Syndicated Equities’ asset managers, monitoring the performance of the firm’s investments. Matt holds a B.A. in Political Science from Williams College, Williamstown, MA. He is an alumni class representative for the Sidwell Friends School in Washington, DC. Matt, his wife Jill, and their two children live in Chevy Chase, MD.



Rene RistauPrincipal and Director of Asset Management

Rene Ristau is a Principal and the Director of Asset Management for Syndicated Equities. Rene joined the firm in 2008 and oversees its

portfolio of property investments, which include retail, office, government, hotel, parking, and multi-family assets. Rene works with operating partners, managers, and outside professionals to provide strategy and direction for leasing, budgeting, cash flow, facility enhancement, property tax, and insurance matters. Rene also provides investor reporting and manages consent processes. As part of Syndicated’s executive team, Rene helps to develop refinance and disposition plans. Rene earned her B.A. in Public Policy/Economics from the University of Chicago. She is a founding and active member of Real Estate to the Rescue, which benefits Save-A-Pet; a past member of CREW; and a past board member of the CAIC. Rene, her husband Chris and their young daughter reside in Chicago.

Robert HandlerPrincipal and Controller

Robert Handler is a Principal and the Controller for Syndicated Equities. Robert joined the firm in 2005 and is responsible for all aspects of investment

accounting and financial reporting. This also includes the delivery of periodic cash flow to investors as well as the assembly and distribution of annual tax information. Robert works closely with the Director of Asset Management as well as the firm’s on-site property managers. Robert holds a B.S. in Accountancy from the University of Illinois in Urbana-Champaign and is a Certified Public Accountant. Robert has served on the board of directors for non-profit organizations, including homeowners associations and school booster programs. Robert and his wife Linda reside in suburban Chicago, Illinois.

Tracy TregerPrincipal

Tracy Treger is a Principal at Syndicated Equities. Drawing upon her 20 years of legal experience, Tracy seeks out opportunities to improve the relationship between

Syndicated Equities and its investors, to cultivate new investors, and to identify new investment opportunities and align them with investors’ goals. She also assists investors in identifying appropriate replacement property to complete tax-deferred § 1031 exchanges, and frequently presents seminars on § 1031 syndications. Tracy joined the Syndicated Equities team in 2013 after serving as vice president and general counsel for a private REIT, and as a partner in two large Chicago-based national law firms. Tracy holds a B.A. in Psychology and an M.S. in Psychological Services from the University of Pennsylvania and a J.D. from Chicago-Kent College of Law. She is an active national and regional leader of the Anti-Defamation League (ADL), co-chairs the CREW Chicago communications committee, and authors a monthly online column about real estate investments.

Jason SchwartzPrincipal

Jason Schwartz is a Principal at Syndicated Equities. Jason joined the firm in 2010 as an investment sales broker with an exclusive focus on assisting private, 1031 exchange, and

institutional investors in acquiring and disposing of net lease properties throughout the country. In 2013, Jason joined the acquisitions team at Syndicated Equities where he’s responsible for sourcing, underwriting, and marketing the firm’s investments. To date, he has been involved in the acquisition of single- and multi- tenant retail, office, industrial, medical, government, student housing, and multifamily assets. Jason also manages the net lease brokerage division which has closed on more than $130 million of third-party transactions since 2017. Jason earned a B.A. in Real Estate and Urban Analysis from the Ohio State University. Jason and his wife Erica reside in Chicago.


COMMUNITY INVOLVEMENT

Giving back to the communities is an important Syndicated Equities tenet. The firm’s principals and employees support these and other civic and charitable organizations with both time and financial commitments.

1st Lt. David Bernstein Memorial Fund

Adopt-A-Classroom

Alzheimer’s Foundation

American Cancer Society

American Civil Liberties Union

American Diabetes Association

American Heart Association

American Red Cross

Anti-Cruelty Society

Anti-Defamation League (ADL)

Arbor Day Foundation

Art Institute of Chicago

Aspen Early Learning Center

Aspen Music Festival

Avon Walk for Breast Cancer

Best Friends Animal Sanctuary

Big Brothers/Big Sisters

Chicago Cares

Chicago Public Library Foundation

Chicago Public Radio

Chicago Public Schools

Chicago Sinai Congregation

Chicago-Kent College of Law

Children’s Memorial Hospital

Christopher House

Cornell Lab of Ornithology

CREW Foundation

Crohn’s & Colitis Foundation

CSPI

Daniel Murphy Scholarship

David O. Lowry Scholarship

Diabetes Research Institute

Doctors without Borders

Erikson Institute

Foundation For Fighting Blindness

Francis W. Parker School

Girl Scouts of America

Global Autism Project

Greater Chicago Food Depository

Guiding Eyes for the Blind

Habitat for Humanity

Harold Eisenberg Foundation

Hillel Foundation

James R. Jordan Foundation

Jewish Children & Family Services

Jewish National Fund

Jewish United Fund

Jewish Vocational Services

Junior League of Chicago

Keshet

Klezmer Music Foundation

Kovler Juvenile Diabetes Research Foundation

Lynn Sage Breast Cancer Research

Lyric Opera of Chicago

Make-A-Wish Foundation

March of Dimes

Marwen

Mothers Against Drunk Driving (MADD)

National Public Radio (WBEZ)

Nature Conservancy

Northwestern University

OneGoal

Ovarian Cancer Research

PAWS

Planned Parenthood

Prentice Women’s Hospital

Ready Readers

Roosevelt University School of Real Estate

Rush Presbyterian-St. Luke’s Hospital

Rush University Medical Center

Salvation Army

Save the Rain

Save-A-Pet

Scholarship Chicago

Shedd Aquarium

Shriners Children’s Hospital

Southern Poverty Law Center

Special Olympics

Spertus Institute of Jewish Studies

St. Jude Children’s Cancer Research Hospital

Stevenson High School Band Parents’ Organization

Susan G. Komen for the Cure

The Anti-Cruelty Society

The Latin School of Chicago

The Leukemia & Lymphoma Society

The Lilac Tree

The Lincoln Park Zoo

The Wooster School

Toys for Tots

UNICEF

United Way

University of Chicago Cancer Research Center

University of Illinois

University of Michigan

University of Pennsylvania

Wildlife Conservation Network

World Wildlife Fund

Wounded Warrior Project

WTTW 11

Y-ME National Breast Cancer Organization

350 North LaSalle Street, Suite 800, Chicago, Illinois 60654

312.640.9020 Syneq.com

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