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Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 201.45 469.90 Td (\(Exact name of r) Tj ET Q q 0 0 0 rg BT 268.00 469.90 Td (egistrant as specified in its charter\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 161.10 438.13 Td (Maryland) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.30 438.13 Td (20-0138854) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 60.85 423.96 Td (\(State or other jurisdiction of incorporation or organization\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 375.95 423.96 Td (\(I.R.S. 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See the definitions of lar) Tj ET Q q 0 0 0 rg BT 264.66 191.50 Td (ge accelerated filer) Tj ET Q q 0 0 0 rg BT 340.31 191.50 Td (, accelerated filer and smaller reporting company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 179.50 Td (in Rule 12b-2 of the Exchange ) Tj ET Q q 0 0 0 rg BT 174.41 179.50 Td (Act.) 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Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 88.50 Td (Y) Tj ET Q q 0 0 0 rg BT 56.22 88.50 Td (es ) Tj ET Q /GS0 gs q 8.91 0 0 10.09 67.05 86.34 cm /I11 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.96 88.50 Td ( No ) Tj ET Q /GS0 gs q 10.60 0 0 10.09 98.18 86.34 cm /I12 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.50 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.44 70.50 Td (November4, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.15 70.50 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.15 70.50 Td (221.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.04 70.50 Td ( shares of the registrant) Tj ET Q q 0 0 0 rg BT 304.12 70.50 Td (s common stock were outstanding.) Tj ET Q 0 0 0 RG /GS0 gs 1.50 w 0 i [] 0 d 0 J 0 j 3 M 40.5 60 m 570.5 60 l s 0 0 0 RG /GS0 gs 7.00 w 0 i [] 0 d 0 J 0 j 3 M 40.5 56 m 570.5 56 l s BT /F1 10.00 Tf ET endstream endobj 5 0 obj <> endobj 6 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 252.65 742.25 Td (T) Tj ET Q q 0 0 0 rg BT 258.58 742.25 Td (ABLE OF) Tj ET Q q 0 0 0 rg BT 301.82 742.25 Td ( CONTENTS) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 690.75 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 111.50 690.75 385.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 690.75 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 660.75 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 111.50 660.75 385.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 660.75 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 630.75 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 111.50 630.75 385.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 630.75 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 600.75 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 111.50 600.75 385.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 600.75 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 570.75 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 111.50 570.75 385.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 570.75 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 540.75 512.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 511.75 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 111.50 511.75 385.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 511.75 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 481.75 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 111.50 481.75 385.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 481.75 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 451.75 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 111.50 451.75 385.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 451.75 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 421.75 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 111.50 421.75 385.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 421.75 66.00 -15.00 re f /GS0 gs BT /F2 10.00 Tf ET q 0 0 0 rg BT 218.65 710.43 Td (PARTI FINANCIAL INFORMATION) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 695.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 695.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 680.42 Td (Item1.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 680.42 Td (Condensed Consolidated Financial Statements \(Unaudited\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 680.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 665.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 665.42 Td (Condensed Consolidated Balance Sheets) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 650.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 650.42 Td (Condensed Consolidated Statements of Operations and Comprehensive Income \(Loss\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 635.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 635.42 Td (Condensed Consolidated Statements of Equity) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 620.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 620.42 Td (Condensed Consolidated Statements of Cash Flows) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 605.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 605.42 Td (Notes to the Condensed Consolidated Financial Statements) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 590.42 Td (Item2.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 590.42 Td (Management) Tj ET Q q 0 0 0 rg BT 168.98 590.42 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 238.15 590.42 Td (Analysis of Financial Condition and Results of Operations) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 575.42 Td (Item3.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 575.42 Td (Quantitative and Qualitative Disclosures ) Tj ET Q q 0 0 0 rg BT 278.40 575.42 Td (About Market Risk) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 560.42 Td (Item4.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 560.42 Td (Controls and Procedures) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 545.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 545.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 226.70 531.43 Td (PARTII OTHER INFORMATION) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 516.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 516.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 501.42 Td (Item 1.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 501.42 Td (Legal Proceedings) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 486.42 Td (Item 1A.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 486.42 Td (Risk Factors) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 471.42 Td (Item 2.) 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Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 190.15 706.25 Td (HINES REAL) Tj ET Q q 0 0 0 rg BT 251.00 706.25 Td ( EST) Tj ET Q q 0 0 0 rg BT 271.66 706.25 Td (A) Tj ET Q q 0 0 0 rg BT 278.14 706.25 Td (TE INVESTMENT) Tj ET Q q 0 0 0 rg BT 361.04 706.25 Td ( ) Tj ET Q q 0 0 0 rg BT 363.36 706.25 Td (TRUST) Tj ET Q q 0 0 0 rg BT 395.96 706.25 Td (, INC.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 186.75 694.25 Td (CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 311.86 694.25 Td (TED BALANCE SHEETS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 272.35 682.25 Td (\(UNAUDITED\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 620.75 328.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 620.75 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 620.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 620.75 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 592.75 328.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 592.75 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 592.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 592.75 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 564.75 328.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 564.75 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 564.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 564.75 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 536.75 328.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 536.75 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 536.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 536.75 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 508.75 328.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 508.75 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 508.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 508.75 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 480.75 328.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 480.75 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 480.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 480.75 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 452.75 328.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 452.75 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 452.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 452.75 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 424.75 328.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 424.75 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 424.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 424.75 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 396.75 328.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 396.75 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 396.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 396.75 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 368.75 328.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 368.75 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 368.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 368.75 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 340.75 328.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 340.75 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 340.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 340.75 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 312.75 328.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 312.75 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 312.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 312.75 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 284.75 328.00 -6.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 284.75 90.00 -6.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 284.75 4.00 -6.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 284.75 90.00 -6.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 264.75 328.00 -6.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 264.75 90.00 -6.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 264.75 4.00 -6.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 264.75 90.00 -6.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 244.75 328.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 244.75 90.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 244.75 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 244.75 90.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 187.75 328.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 187.75 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 187.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 187.75 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 159.75 328.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 159.75 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 159.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 159.75 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 131.75 328.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 131.75 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 131.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 131.75 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 103.75 328.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 103.75 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 103.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 103.75 90.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 648.75 m 468.5 648.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 648.75 m 562.5 648.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 466.75 m 468.5 466.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 466.75 m 562.5 466.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 453.75 m 468.5 453.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 451.75 m 468.5 451.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 453.75 m 562.5 453.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 451.75 m 562.5 451.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 298.75 m 468.5 298.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 298.75 m 562.5 298.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 145.75 m 468.5 145.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 145.75 m 562.5 145.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 117.75 m 468.5 117.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 117.75 m 562.5 117.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 103.75 m 468.5 103.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 103.75 m 562.5 103.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 90.75 m 468.5 90.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 88.75 m 468.5 88.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 90.75 m 562.5 90.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 88.75 m 562.5 88.75 l s BT /F2 9.50 Tf ET q 0 0 0 rg BT 394.05 662.82 Td (September 30,) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 413.50 653.32 Td (2016) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 489.35 662.82 Td (December 31,) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 507.50 653.32 Td (2015) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 53.00 639.32 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 386.50 639.32 Td (\(In thousands, except per share amounts\)) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 53.00 625.32 Td (ASSETS:) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 611.31 Td (Investment property, net) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 381.00 611.31 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 455.30 611.31 Td () Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 475.00 611.31 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 520.80 611.31 Td (1,698,456) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 597.31 Td (Investments in unconsolidated entities) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 438.65 597.31 Td (77,451) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 527.90 597.31 Td (100,455) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 583.31 Td (Cash and cash equivalents) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 433.90 583.31 Td (101,456) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 532.65 583.31 Td (69,743) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 569.31 Td (Restricted cash) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 455.30 569.31 Td () Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 537.40 569.31 Td (1,288) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 555.31 Td (Distributions receivable) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 443.40 555.31 Td (1,382) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 537.40 555.31 Td (1,757) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 541.31 Td (Tenant and other receivables, net) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 455.30 541.31 Td () Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 532.65 541.31 Td (41,025) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 527.31 Td (Intangible lease assets, net) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 455.30 527.31 Td () Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 527.90 527.31 Td (124,265) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 513.31 Td (Deferred leasing costs, net) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 455.30 513.31 Td () Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 527.90 513.31 Td (143,656) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 499.31 Td (Deferred financing costs, net) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 455.30 499.31 Td () Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 544.55 499.31 Td (519) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 485.31 Td (Other assets) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 455.30 485.31 Td () Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 537.40 485.31 Td (2,567) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 471.31 Td (Assets held for sale) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 426.80 471.31 Td (1,238,542) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 549.30 471.31 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 53.00 457.32 Td (TOTAL ASSETS) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 381.00 457.31 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 426.80 457.31 Td (1,418,831) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 475.00 457.31 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 520.80 457.31 Td (2,183,731) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 53.00 429.32 Td (LIABILITIES:) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 381.00 429.31 Td () Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 475.00 429.31 Td () Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 415.31 Td (Accounts payable and accrued expenses) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 381.00 415.31 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 455.30 415.31 Td () Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 475.00 415.31 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 532.65 415.31 Td (58,828) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 401.31 Td (Due to affiliates) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 443.40 401.31 Td (3,438) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 537.40 401.31 Td (4,501) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 387.31 Td (Intangible lease liabilities, net) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 455.30 387.31 Td () Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 532.65 387.31 Td (29,699) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 373.31 Td (Other liabilities) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 455.30 373.31 Td () Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 532.65 373.31 Td (16,603) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 359.31 Td (Interest rate swap contracts) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 455.30 359.31 Td () Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 532.65 359.31 Td (17,448) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 345.31 Td (Participation interest liability) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 433.90 345.31 Td (133,942) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 527.90 345.31 Td (126,637) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 331.31 Td (Distributions payable) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 455.30 331.31 Td () Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 532.65 331.31 Td (15,219) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 317.31 Td (Notes payable, net) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 455.30 317.31 Td () Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 527.90 317.31 Td (852,245) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 303.31 Td (Liabilities associated with assets held for sale) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 438.65 303.31 Td (62,121) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 549.30 303.31 Td () Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 289.31 Td (Total liabilities) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 433.90 289.31 Td (199,501) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 520.80 289.31 Td (1,121,180) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 269.31 Td (Commitments and contingencies \(Note 12\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 455.30 269.31 Td () Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 549.30 269.31 Td () Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 53.00 249.32 Td (EQUITY:) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 381.00 249.31 Td () Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 475.00 249.31 Td () Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 234.81 Td (Preferred shares, $.001 par value; 500,000 preferred shares authorized, none issued) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 225.31 Td (or outstanding as of September 30, 2016 and December 31, 2015) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 455.30 225.31 Td () Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 549.30 225.31 Td () Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 211.31 Td (Common shares, $.001 par value; 1,500,000 common shares authorized, 221,632) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 201.81 Td (and 222,510 common shares issued and outstanding as of September 30, 2016 and) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 192.31 Td (December 31, 2015, respectively) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 450.55 192.31 Td (223) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 544.55 192.31 Td (223) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 178.31 Td (Additional paid-in capital) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 426.80 178.31 Td (2,104,456) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 520.80 178.31 Td (2,101,105) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 164.31 Td (Accumulated distributions in excess of earnings) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 430.75 164.31 Td (\(884,152) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 464.80 164.31 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 517.60 164.31 Td (\(1,037,548) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 558.80 164.31 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 150.31 Td (Accumulated other comprehensive income \(loss\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 440.25 150.31 Td (\(1,197) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 464.80 150.31 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 534.25 150.31 Td (\(1,229) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 558.80 150.31 Td (\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 136.31 Td (Total stockholders equity) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 426.80 136.31 Td (1,219,330) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 520.80 136.31 Td (1,062,551) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 122.31 Td (Noncontrolling interests) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 455.30 122.31 Td () Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 549.30 122.31 Td () Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 108.31 Td (Total equity) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 426.80 108.31 Td (1,219,330) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 520.80 108.31 Td (1,062,551) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 53.00 94.32 Td (TOTAL LIABILITIES AND EQUITY) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 381.00 94.31 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 426.80 94.31 Td (1,418,831) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 475.00 94.31 Td ($) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 520.80 94.31 Td (2,183,731) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.25 66.25 Td (See notes to the condensed consolidated financial statements.) Tj ET Q endstream endobj 9 0 obj <> endobj 10 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 24.60 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 190.15 749.25 Td (HINES REAL) Tj ET Q q 0 0 0 rg BT 251.00 749.25 Td ( EST) Tj ET Q q 0 0 0 rg BT 271.66 749.25 Td (A) Tj ET Q q 0 0 0 rg BT 278.14 749.25 Td (TE INVESTMENT) Tj ET Q q 0 0 0 rg BT 361.04 749.25 Td ( ) Tj ET Q q 0 0 0 rg BT 363.36 749.25 Td (TRUST) Tj ET Q q 0 0 0 rg BT 395.96 749.25 Td (, INC.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 59.00 737.25 Td (CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 184.11 737.25 Td (TED ST) Tj ET Q q 0 0 0 rg BT 218.66 737.25 Td (A) Tj ET Q q 0 0 0 rg BT 225.14 737.25 Td (TEMENTS OF) Tj ET Q q 0 0 0 rg BT 290.06 737.25 Td ( OPERA) Tj ET Q q 0 0 0 rg BT 326.82 737.25 Td (TIONS ) Tj ET Q q 0 0 0 rg BT 359.89 737.25 Td (AND COMPREHENSIVE INCOME \(LOSS\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 159.65 725.25 Td (For) Tj ET Q q 0 0 0 rg BT 175.02 725.25 Td ( the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 193.17 725.25 Td (Thr) Tj ET Q q 0 0 0 rg BT 209.65 725.25 Td (ee and Nine) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 259.65 725.25 Td ( Months Ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 327.73 725.25 Td (September) Tj ET Q q 0 0 0 rg BT 373.65 725.25 Td (30, 2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 411.15 725.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 432.27 725.25 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.27 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/GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 163.75 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 35.50 135.75 244.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 279.50 135.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 135.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 135.75 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 135.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 135.75 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 135.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 135.75 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 35.50 107.75 244.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 279.50 107.75 72.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 107.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 107.75 72.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 107.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 107.75 70.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 107.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 107.75 70.00 -23.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 279.5 674.75 m 351.5 674.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 355.5 674.75 m 427.5 674.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 674.75 m 501.5 674.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 674.75 m 575.5 674.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 279.5 618.75 m 351.5 618.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 355.5 618.75 m 427.5 618.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 618.75 m 501.5 618.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 618.75 m 575.5 618.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 279.5 464.75 m 351.5 464.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 279.5 450.75 m 351.5 450.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 355.5 464.75 m 427.5 464.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 355.5 450.75 m 427.5 450.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 464.75 m 501.5 464.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 450.75 m 501.5 450.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 464.75 m 575.5 464.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 450.75 m 575.5 450.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 279.5 338.75 m 351.5 338.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 355.5 338.75 m 427.5 338.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 338.75 m 501.5 338.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 338.75 m 575.5 338.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 279.5 301.75 m 351.5 301.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 355.5 301.75 m 427.5 301.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 301.75 m 501.5 301.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 301.75 m 575.5 301.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 279.5 273.75 m 351.5 273.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 355.5 273.75 m 427.5 273.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 273.75 m 501.5 273.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 273.75 m 575.5 273.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 279.5 245.75 m 351.5 245.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 355.5 245.75 m 427.5 245.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 245.75 m 501.5 245.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 245.75 m 575.5 245.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279.5 232.75 m 351.5 232.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279.5 230.75 m 351.5 230.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355.5 232.75 m 427.5 232.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355.5 230.75 m 427.5 230.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 232.75 m 501.5 232.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 230.75 m 501.5 230.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 232.75 m 575.5 232.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 230.75 m 575.5 230.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279.5 218.75 m 351.5 218.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279.5 216.75 m 351.5 216.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355.5 218.75 m 427.5 218.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355.5 216.75 m 427.5 216.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 218.75 m 501.5 218.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 216.75 m 501.5 216.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 218.75 m 575.5 218.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 216.75 m 575.5 216.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279.5 204.75 m 351.5 204.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279.5 202.75 m 351.5 202.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355.5 204.75 m 427.5 204.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355.5 202.75 m 427.5 202.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 204.75 m 501.5 204.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 202.75 m 501.5 202.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 204.75 m 575.5 204.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 202.75 m 575.5 202.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279.5 190.75 m 351.5 190.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279.5 188.75 m 351.5 188.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355.5 190.75 m 427.5 190.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355.5 188.75 m 427.5 188.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 190.75 m 501.5 190.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 188.75 m 501.5 188.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 190.75 m 575.5 190.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 188.75 m 575.5 188.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 279.5 121.75 m 351.5 121.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 355.5 121.75 m 427.5 121.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 121.75 m 501.5 121.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 121.75 m 575.5 121.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 279.5 84.75 m 351.5 84.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 355.5 84.75 m 427.5 84.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 84.75 m 501.5 84.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 84.75 m 575.5 84.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279.5 62.75 m 351.5 62.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279.5 60.75 m 351.5 60.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355.5 62.75 m 427.5 62.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355.5 60.75 m 427.5 60.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 62.75 m 501.5 62.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 60.75 m 501.5 60.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 62.75 m 575.5 62.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 60.75 m 575.5 60.75 l s BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 693.21 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 283.50 693.20 Td (Three Months Ended September 30,) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 435.95 693.20 Td (Nine Months Ended September 30,) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 679.21 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 306.00 679.20 Td (2016) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 382.00 679.20 Td (2015) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 457.00 679.20 Td (2016) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 531.00 679.20 Td (2015) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 665.21 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 347.90 665.20 Td (\(In thousands, except per share amounts\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 38.00 651.20 Td (Revenues:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 282.00 651.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.00 651.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 434.00 651.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 508.00 651.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 637.21 Td (Rental revenue) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 282.00 637.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.25 637.21 Td (37,957) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.00 637.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 399.25 637.21 Td (49,844) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 434.00 637.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 468.75 637.21 Td (130,515) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 508.00 637.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 542.75 637.21 Td (149,917) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 623.21 Td (Other revenue) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.75 623.21 Td (4,162) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 403.75 623.21 Td (5,361) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 473.25 623.21 Td (13,980) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 547.25 623.21 Td (14,828) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 44.00 609.21 Td (Total revenues) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.25 609.21 Td (42,119) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 399.25 609.21 Td (55,205) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 468.75 609.21 Td (144,495) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 542.75 609.21 Td (164,745) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 38.00 595.20 Td (Expenses:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 282.00 595.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.00 595.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 434.00 595.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 508.00 595.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 581.21 Td (Property operating expenses) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.25 581.21 Td (10,378) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 399.25 581.21 Td (14,994) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 473.25 581.21 Td (37,997) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 547.25 581.21 Td (45,256) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 567.21 Td (Real property taxes) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.75 567.21 Td (2,914) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 403.75 567.21 Td (7,623) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 473.25 567.21 Td (19,207) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 547.25 567.21 Td (23,093) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 553.21 Td (Property management fees) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.75 553.21 Td (1,003) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 403.75 553.21 Td (1,365) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 477.75 553.21 Td (3,614) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 551.75 553.21 Td (4,246) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 539.21 Td (Depreciation and amortization) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 339.00 539.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 399.25 539.21 Td (21,491) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 473.25 539.21 Td (38,190) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 547.25 539.21 Td (66,782) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 525.21 Td (Acquisition related expenses) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 339.00 525.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 415.00 525.21 Td (39) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 489.00 525.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.50 525.21 Td (639) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 511.21 Td (Asset management and acquisition fees) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.75 511.21 Td (6,542) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 399.25 511.21 Td (11,064) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 473.25 511.21 Td (21,106) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 547.25 511.21 Td (28,192) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 497.21 Td (General and administrative) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.75 497.21 Td (2,101) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 403.75 497.21 Td (1,648) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 477.75 497.21 Td (5,346) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 551.75 497.21 Td (5,078) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 483.21 Td (Transaction expenses) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 334.50 483.21 Td (928) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 415.00 483.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 477.75 483.21 Td (4,391) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 563.00 483.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 469.21 Td (Impairment losses) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.75 469.21 Td (6,909) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 399.25 469.21 Td (16,033) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 473.25 469.21 Td (30,372) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 547.25 469.21 Td (16,033) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 44.00 455.21 Td (Total expenses) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.25 455.21 Td (30,775) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 399.25 455.21 Td (74,257) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 468.75 455.21 Td (160,223) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 542.75 455.21 Td (189,319) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 38.00 441.20 Td (Operating income \(loss\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.25 441.21 Td (11,344) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 396.25 441.21 Td (\(19,052) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 424.00 441.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 470.25 441.21 Td (\(15,728) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 498.00 441.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 544.25 441.21 Td (\(24,574) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 572.00 441.21 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 38.00 427.20 Td (Other income \(expenses\):) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 282.00 427.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.00 427.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 434.00 427.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 508.00 427.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 413.21 Td (Gain \(loss\) on derivative instruments, net) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.75 413.21 Td (3,913) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 403.75 413.21 Td (3,922) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 473.25 413.21 Td (12,311) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 547.25 413.21 Td (11,449) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 399.21 Td (Gain \(loss\) on settlement of debt) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 331.50 399.21 Td (\(380) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 348.00 399.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 415.00 399.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 481.50 399.21 Td (\(978) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 498.00 399.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 563.00 399.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 385.21 Td (Equity in earnings \(losses\) of unconsolidated entities, net) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 324.75 385.21 Td (\(7,874) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 348.00 385.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.75 385.21 Td (\(5,297) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 424.00 385.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 481.50 385.21 Td (\(830) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 498.00 385.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 547.25 385.21 Td (27,703) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 371.21 Td (Gain \(loss\) on sale of real estate investments, net) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 318.75 371.21 Td (173,344) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 399.25 371.21 Td (20,711) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 468.75 371.21 Td (209,774) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 547.25 371.21 Td (50,094) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 357.21 Td (Interest expense) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 324.75 357.21 Td (\(4,380) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 348.00 357.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.75 357.21 Td (\(9,397) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 424.00 357.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 470.25 357.21 Td (\(21,202) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 498.00 357.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 544.25 357.21 Td (\(28,717) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 572.00 357.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 343.21 Td (Interest income) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 339.00 343.21 Td (62) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 415.00 343.21 Td (12) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 484.50 343.21 Td (125) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 563.00 343.21 Td (33) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 38.00 329.20 Td (Income \(loss\) from continuing operations before benefit) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 38.00 320.20 Td (\(provision\) for income taxes) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 318.75 320.21 Td (176,029) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.75 320.21 Td (\(9,101) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 424.00 320.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 468.75 320.21 Td (183,472) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 547.25 320.21 Td (35,988) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 306.21 Td (Benefit \(provision\) for income taxes) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 339.00 306.21 Td (43) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 412.00 306.21 Td (\(59) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 424.00 306.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.00 306.21 Td (\(33) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 498.00 306.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 555.50 306.21 Td (\(171) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 572.00 306.21 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 38.00 292.20 Td (Income \(loss\) from continuing operations) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 318.75 292.21 Td (176,072) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.75 292.21 Td (\(9,160) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 424.00 292.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 468.75 292.21 Td (183,439) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 547.25 292.21 Td (35,817) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 278.21 Td (Income \(loss\) from discontinued operations, net of taxes) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 340.50 278.21 Td (\(7) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 348.00 278.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 416.50 278.21 Td (\(4) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 424.00 278.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.00 278.21 Td (\(22) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 498.00 278.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 555.50 278.21 Td (\(165) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 572.00 278.21 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 38.00 264.20 Td (Net income \(loss\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 318.75 264.21 Td (176,065) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.75 264.21 Td (\(9,164) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 424.00 264.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 468.75 264.21 Td (183,417) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 547.25 264.21 Td (35,652) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 250.21 Td (Less: Net \(income\) attributable to noncontrolling interests) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 339.00 250.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 412.00 250.21 Td (\(75) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 424.00 250.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 481.50 250.21 Td (\(149) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 498.00 250.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 555.50 250.21 Td (\(224) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 572.00 250.21 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 38.00 236.20 Td (Net income \(loss\) attributable to common stockholders) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 282.00 236.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 318.75 236.21 Td (176,065) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.00 236.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.75 236.21 Td (\(9,239) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 424.00 236.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 434.00 236.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 468.75 236.21 Td (183,268) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 508.00 236.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 547.25 236.21 Td (35,428) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 222.21 Td (Basic and diluted income \(loss\) per common share) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 282.00 222.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 332.25 222.21 Td (0.79) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.00 222.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 405.25 222.21 Td (\(0.04) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 424.00 222.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 434.00 222.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 482.25 222.21 Td (0.83) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 508.00 222.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 556.25 222.21 Td (0.16) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 208.21 Td (Distributions declared per common share) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 282.00 208.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 339.00 208.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.00 208.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 408.25 208.21 Td (0.07) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 434.00 208.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 482.25 208.21 Td (0.13) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 508.00 208.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 556.25 208.21 Td (0.20) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 194.21 Td (Weighted average number of common shares outstanding) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 318.75 194.21 Td (221,632) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 394.75 194.21 Td (223,004) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 468.75 194.21 Td (221,790) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 542.75 194.21 Td (223,658) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 38.00 168.20 Td (Net comprehensive income \(loss\):) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 282.00 168.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.00 168.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 434.00 168.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 508.00 168.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 154.21 Td (Net income \(loss\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 282.00 154.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 318.75 154.21 Td (176,065) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.00 154.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.75 154.21 Td (\(9,164) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 424.00 154.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 434.00 154.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 468.75 154.21 Td (183,417) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 508.00 154.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 547.25 154.21 Td (35,652) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 140.21 Td (Other comprehensive income \(loss\):) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 282.00 140.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.00 140.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 434.00 140.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 508.00 140.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 44.00 126.21 Td (Foreign currency translation adjustment) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 331.50 126.21 Td (\(128) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 348.00 126.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 407.50 126.21 Td (\(204) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 424.00 126.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 489.00 126.21 Td (32) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 555.50 126.21 Td (\(364) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 572.00 126.21 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 38.00 112.20 Td (Net comprehensive income \(loss\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 318.75 112.21 Td (175,937) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.75 112.21 Td (\(9,368) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 424.00 112.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 468.75 112.21 Td (183,449) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 547.25 112.21 Td (35,288) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 44.00 98.21 Td (Net comprehensive \(income\) loss attributable to noncontrolling) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 44.00 89.21 Td (interests) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 339.00 89.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 412.00 89.21 Td (\(75) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 424.00 89.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 481.50 89.21 Td (\(149) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 498.00 89.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 555.50 89.21 Td (\(224) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 572.00 89.21 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 38.00 75.20 Td (Net comprehensive income \(loss\) attributable to common) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 38.00 66.20 Td (stockholders) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 282.00 66.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 318.75 66.21 Td (175,937) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.00 66.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.75 66.21 Td (\(9,443) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 424.00 66.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 434.00 66.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 468.75 66.21 Td (183,300) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 508.00 66.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 547.25 66.21 Td (35,064) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 577.00 62.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.25 38.25 Td (See notes to the condensed consolidated financial statements.) Tj ET Q endstream endobj 11 0 obj <> endobj 12 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 190.15 742.25 Td (HINES REAL) Tj ET Q q 0 0 0 rg BT 251.00 742.25 Td ( EST) Tj ET Q q 0 0 0 rg BT 271.66 742.25 Td (A) Tj ET Q q 0 0 0 rg BT 278.14 742.25 Td (TE INVESTMENT) Tj ET Q q 0 0 0 rg BT 361.04 742.25 Td ( ) Tj ET Q q 0 0 0 rg BT 363.36 742.25 Td (TRUST) Tj ET Q q 0 0 0 rg BT 395.96 742.25 Td (, INC.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 169.65 730.25 Td (CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 294.76 730.25 Td (TED ST) Tj ET Q q 0 0 0 rg BT 329.31 730.25 Td (A) Tj ET Q q 0 0 0 rg BT 335.79 730.25 Td (TEMENTS OF) Tj ET Q q 0 0 0 rg BT 400.71 730.25 Td ( EQUITY) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 182.80 718.25 Td (For) Tj ET Q q 0 0 0 rg BT 198.17 718.25 Td ( the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 216.50 718.25 Td (Nine Months Ended September) Tj ET Q q 0 0 0 rg BT 350.49 718.25 Td ( 30, 2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 387.99 718.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.11 718.25 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.11 718.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 272.35 706.25 Td (\(UNAUDITED\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 275.00 694.25 Td (\(In thousands\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 628.75 109.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 159.50 628.75 42.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 201.50 628.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 205.50 628.75 38.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.50 628.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 247.50 628.75 50.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 628.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 628.75 58.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 628.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.50 628.75 66.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 628.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 628.75 61.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 628.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 628.75 64.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 582.75 109.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 159.50 582.75 42.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 201.50 582.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 205.50 582.75 38.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.50 582.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 247.50 582.75 50.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 582.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 582.75 58.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 582.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.50 582.75 66.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 582.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 582.75 61.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 582.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 582.75 64.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 545.75 109.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 159.50 545.75 42.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 201.50 545.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 205.50 545.75 38.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.50 545.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 247.50 545.75 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 545.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 545.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 545.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.50 545.75 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 545.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 545.75 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 545.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 545.75 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 517.75 109.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 159.50 517.75 42.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 201.50 517.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 205.50 517.75 38.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.50 517.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 247.50 517.75 50.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 517.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 517.75 58.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 517.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.50 517.75 66.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 517.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 517.75 61.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 517.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 517.75 64.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 415.75 109.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 159.50 415.75 42.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 201.50 415.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 205.50 415.75 38.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.50 415.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 247.50 415.75 50.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 415.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 415.75 58.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 415.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.50 415.75 66.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 415.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 415.75 61.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 415.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 415.75 64.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 369.75 109.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 159.50 369.75 42.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 201.50 369.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 205.50 369.75 38.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.50 369.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 247.50 369.75 50.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 369.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 369.75 58.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 369.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.50 369.75 66.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 369.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 369.75 61.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 369.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 369.75 64.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 332.75 109.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 159.50 332.75 42.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 201.50 332.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 205.50 332.75 38.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.50 332.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 247.50 332.75 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 332.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 332.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 332.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.50 332.75 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 332.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 332.75 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 332.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 332.75 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 304.75 109.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 159.50 304.75 42.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 201.50 304.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 205.50 304.75 38.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.50 304.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 247.50 304.75 50.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 304.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 304.75 58.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 304.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.50 304.75 66.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 304.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 304.75 61.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 304.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 304.75 64.00 -23.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 159.5 669.75 m 201.5 669.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 201.5 669.75 m 205.5 669.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 669.75 m 243.5 669.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 243.5 669.75 m 247.5 669.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 247.5 669.75 m 297.5 669.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 297.5 669.75 m 301.5 669.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 669.75 m 359.5 669.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 669.75 m 363.5 669.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 363.5 669.75 m 429.5 669.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 159.5 628.75 m 201.5 628.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 628.75 m 243.5 628.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 247.5 628.75 m 297.5 628.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 669.75 m 359.5 669.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 628.75 m 359.5 628.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 363.5 628.75 m 429.5 628.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 628.75 m 494.5 628.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 628.75 m 562.5 628.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 159.5 628.75 m 201.5 628.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 628.75 m 243.5 628.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 247.5 628.75 m 297.5 628.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 628.75 m 359.5 628.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 363.5 628.75 m 429.5 628.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 628.75 m 494.5 628.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 628.75 m 562.5 628.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 159.5 494.75 m 201.5 494.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 494.75 m 243.5 494.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 247.5 494.75 m 297.5 494.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 494.75 m 359.5 494.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 363.5 494.75 m 429.5 494.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 494.75 m 494.5 494.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 494.75 m 562.5 494.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 159.5 472.75 m 201.5 472.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 159.5 470.75 m 201.5 470.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 494.75 m 243.5 494.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 472.75 m 243.5 472.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 470.75 m 243.5 470.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 247.5 472.75 m 297.5 472.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 247.5 470.75 m 297.5 470.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 472.75 m 359.5 472.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 470.75 m 359.5 470.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363.5 472.75 m 429.5 472.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363.5 470.75 m 429.5 470.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 472.75 m 494.5 472.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 470.75 m 494.5 470.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 472.75 m 562.5 472.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 470.75 m 562.5 470.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 159.5 415.75 m 201.5 415.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 415.75 m 243.5 415.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 247.5 415.75 m 297.5 415.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 415.75 m 359.5 415.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 363.5 415.75 m 429.5 415.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 415.75 m 494.5 415.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 415.75 m 562.5 415.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 159.5 415.75 m 201.5 415.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 415.75 m 243.5 415.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 247.5 415.75 m 297.5 415.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 415.75 m 359.5 415.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 363.5 415.75 m 429.5 415.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 415.75 m 494.5 415.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 415.75 m 562.5 415.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 159.5 281.75 m 201.5 281.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 281.75 m 243.5 281.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 247.5 281.75 m 297.5 281.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 281.75 m 359.5 281.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 363.5 281.75 m 429.5 281.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 281.75 m 494.5 281.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 281.75 m 562.5 281.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 159.5 259.75 m 201.5 259.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 159.5 257.75 m 201.5 257.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 259.75 m 243.5 259.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 257.75 m 243.5 257.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 247.5 259.75 m 297.5 259.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 247.5 257.75 m 297.5 257.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 259.75 m 359.5 259.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 257.75 m 359.5 257.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363.5 259.75 m 429.5 259.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363.5 257.75 m 429.5 257.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 259.75 m 494.5 259.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 257.75 m 494.5 257.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 259.75 m 562.5 259.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 257.75 m 562.5 257.75 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 216.25 674.20 Td (Hines Real Estate Investment Trust, Inc.) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 463.50 674.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 530.00 674.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 633.21 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 162.25 642.20 Td (Common) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 167.05 633.20 Td (Shares) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 208.20 633.20 Td (Amount) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 251.45 651.20 Td (Additional) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 257.95 642.20 Td (Paid-in) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 257.70 633.20 Td (Capital) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 304.50 660.20 Td (Accumulated) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 304.70 651.20 Td (Distributions) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 307.50 642.20 Td (in Excess of) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 312.45 633.20 Td (Earnings) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 370.50 660.20 Td (Accumulated) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 384.55 651.20 Td (Other) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 366.05 642.20 Td (Comprehensive) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 368.85 633.20 Td (Income \(Loss\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 453.65 651.20 Td (Total) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 437.30 642.20 Td (Stockholders) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 450.45 633.20 Td (Equity) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 501.05 642.20 Td (Noncontr) Tj ET Q q 0 0 0 rg BT 537.38 642.20 Td (olling) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 513.30 633.20 Td (Inter) Tj ET Q q 0 0 0 rg BT 532.63 633.20 Td (ests) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 619.20 Td (BALANCE,) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 610.20 Td (January 1, 2016) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 168.75 610.21 Td (222,510) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 208.00 610.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 226.50 610.21 Td (223) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 250.00 610.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 258.00 610.21 Td (2,101,105) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 304.00 610.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 317.00 610.21 Td (\(1,037,548) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 356.00 610.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 366.00 610.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 402.75 610.21 Td (\(1,229) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.00 610.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 436.00 610.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.00 610.21 Td (1,062,551) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 501.00 610.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 610.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 596.21 Td (Issuance of) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 587.21 Td (common shares) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 177.75 587.21 Td (1,617) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 235.50 587.21 Td (2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 269.25 587.21 Td (10,863) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 347.00 587.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 417.00 587.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 466.25 587.21 Td (10,865) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 587.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 573.21 Td (Redemption of) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 564.21 Td (common shares) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 174.75 564.21 Td (\(2,495) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 198.00 564.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 232.50 564.21 Td (\(2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 240.00 564.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 270.75 564.21 Td (\(7,464) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 294.00 564.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 347.00 564.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 417.00 564.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 467.75 564.21 Td (\(7,466) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 491.00 564.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 564.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 550.21 Td (Distributions declared) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 189.00 550.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 231.00 550.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 285.00 550.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 328.25 550.21 Td (\(29,872) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 356.00 550.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 417.00 550.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 463.25 550.21 Td (\(29,872) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 491.00 550.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 542.50 550.21 Td (\(149) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 550.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 536.21 Td (Other offering costs, net) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 189.00 536.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 231.00 536.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 282.00 536.21 Td (\(48) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 294.00 536.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 347.00 536.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 417.00 536.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 479.00 536.21 Td (\(48) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 491.00 536.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 536.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 522.21 Td (Net income \(loss\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 189.00 522.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 231.00 522.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 285.00 522.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 326.75 522.21 Td (183,268) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 417.00 522.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.75 522.21 Td (183,268) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 545.50 522.21 Td (149) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 508.21 Td (Foreign currency) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 499.21 Td (translation adjustment) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 189.00 499.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 231.00 499.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 285.00 499.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 347.00 499.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 417.00 499.21 Td (32) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 482.00 499.21 Td (32) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 499.21 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 485.20 Td (BALANCE,) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 476.20 Td (September) Tj ET Q q 0 0 0 rg BT 94.33 476.20 Td ( 30, 2016) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 168.75 476.21 Td (221,632) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 208.00 476.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 226.50 476.21 Td (223) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 250.00 476.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 258.00 476.21 Td (2,104,456) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 304.00 476.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.75 476.21 Td (\(884,152) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 356.00 476.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 366.00 476.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 402.75 476.21 Td (\(1,197) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.00 476.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 436.00 476.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.00 476.21 Td (1,219,330) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 501.00 476.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 476.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 420.21 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 162.25 429.20 Td (Common) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 167.05 420.20 Td (Shares) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 208.20 420.20 Td (Amount) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 251.45 438.20 Td (Additional) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 257.95 429.20 Td (Paid-in) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 257.70 420.20 Td (Capital) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 304.50 447.20 Td (Accumulated) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 304.70 438.20 Td (Distributions) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 307.50 429.20 Td (in Excess of) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 312.45 420.20 Td (Earnings) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 370.50 447.20 Td (Accumulated) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 384.55 438.20 Td (Other) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 366.05 429.20 Td (Comprehensive) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 368.85 420.20 Td (Income \(Loss\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 453.65 438.20 Td (Total) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 437.30 429.20 Td (Stockholders) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 450.45 420.20 Td (Equity) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 501.05 429.20 Td (Noncontr) Tj ET Q q 0 0 0 rg BT 537.38 429.20 Td (olling) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 513.30 420.20 Td (Inter) Tj ET Q q 0 0 0 rg BT 532.63 420.20 Td (ests) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 406.20 Td (BALANCE,) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 397.20 Td (January 1, 2015) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 168.75 397.21 Td (225,207) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 208.00 397.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 226.50 397.21 Td (225) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 250.00 397.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 258.00 397.21 Td (2,110,537) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 304.00 397.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 317.00 397.21 Td (\(1,020,134) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 356.00 397.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 366.00 397.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 409.50 397.21 Td (\(790) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.00 397.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 436.00 397.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.00 397.21 Td (1,089,838) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 501.00 397.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 397.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 383.21 Td (Issuance of) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 374.21 Td (common shares) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 177.75 374.21 Td (2,547) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 235.50 374.21 Td (3) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 269.25 374.21 Td (16,522) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 347.00 374.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 417.00 374.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 466.25 374.21 Td (16,525) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 374.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 360.21 Td (Redemption of) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 351.21 Td (common shares) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 174.75 351.21 Td (\(4,750) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 198.00 351.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 232.50 351.21 Td (\(5) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 240.00 351.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 266.25 351.21 Td (\(24,196) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 294.00 351.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 347.00 351.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 417.00 351.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 463.25 351.21 Td (\(24,201) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 491.00 351.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 351.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 337.21 Td (Distributions declared) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 189.00 337.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 231.00 337.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 285.00 337.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 328.25 337.21 Td (\(45,168) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 356.00 337.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 417.00 337.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 463.25 337.21 Td (\(45,168) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 491.00 337.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 542.50 337.21 Td (\(224) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 337.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 323.21 Td (Other offering costs, net) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 189.00 323.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 231.00 323.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 282.00 323.21 Td (\(19) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 294.00 323.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 347.00 323.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 417.00 323.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 479.00 323.21 Td (\(19) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 491.00 323.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 323.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 309.21 Td (Net income \(loss\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 189.00 309.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 231.00 309.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 285.00 309.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 331.25 309.21 Td (35,428) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 417.00 309.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 466.25 309.21 Td (35,428) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 545.50 309.21 Td (224) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 295.21 Td (Foreign currency) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 286.21 Td (translation adjustment) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 189.00 286.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 231.00 286.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 285.00 286.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 347.00 286.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 409.50 286.21 Td (\(364) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.00 286.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 474.50 286.21 Td (\(364) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 491.00 286.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 286.21 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 272.20 Td (BALANCE, ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 263.20 Td (September) Tj ET Q q 0 0 0 rg BT 94.33 263.20 Td ( 30, 2015) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 168.75 263.21 Td (223,004) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 208.00 263.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 226.50 263.21 Td (223) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 250.00 263.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 258.00 263.21 Td (2,102,844) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 304.00 263.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 317.00 263.21 Td (\(1,029,874) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 356.00 263.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 366.00 263.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 402.75 263.21 Td (\(1,154) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.00 263.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 436.00 263.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.00 263.21 Td (1,072,039) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 501.00 263.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 263.21 Td () Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.25 235.25 Td (See notes to the condensed consolidated financial statements.) Tj ET Q endstream endobj 13 0 obj <> endobj 14 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 190.15 742.25 Td (HINES REAL) Tj ET Q q 0 0 0 rg BT 251.00 742.25 Td ( EST) Tj ET Q q 0 0 0 rg BT 271.66 742.25 Td (A) Tj ET Q q 0 0 0 rg BT 278.14 742.25 Td (TE INVESTMENT) Tj ET Q q 0 0 0 rg BT 361.04 742.25 Td ( ) Tj ET Q q 0 0 0 rg BT 363.36 742.25 Td (TRUST) Tj ET Q q 0 0 0 rg BT 395.96 742.25 Td (, INC.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 156.00 730.25 Td (CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 281.11 730.25 Td (TED ST) Tj ET Q q 0 0 0 rg BT 315.66 730.25 Td (A) Tj ET Q q 0 0 0 rg BT 322.14 730.25 Td (TEMENTS OF) Tj ET Q q 0 0 0 rg BT 387.06 730.25 Td ( CASH FLOWS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 182.80 718.25 Td (For) Tj ET Q q 0 0 0 rg BT 198.17 718.25 Td ( the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 216.50 718.25 Td (Nine Months Ended September) Tj ET Q q 0 0 0 rg BT 350.49 718.25 Td ( 30, 2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 387.99 718.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.11 718.25 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.11 718.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 272.35 706.25 Td (\(UNAUDITED\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 639.75 356.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 639.75 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 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204.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 204.75 m 562.5 204.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 189.75 m 482.5 189.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 189.75 m 562.5 189.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 159.75 m 482.5 159.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 159.75 m 562.5 159.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 145.75 m 482.5 145.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 143.75 m 482.5 143.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 145.75 m 562.5 145.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 143.75 m 562.5 143.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 673.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.50 673.43 Td (Nine Months Ended September 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 658.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 434.00 658.43 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.00 658.43 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 644.43 Td (CASH FLOWS FROM OPERATING ACTIVITIES:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.00 644.43 Td (\(In thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 629.42 Td (Net income \(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.00 629.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.15 629.42 Td (183,417) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.00 629.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 629.42 Td (35,652) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 614.42 Td (Adjustments to reconcile net income \(loss\) to cash from operating activities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.00 614.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 614.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 599.42 Td (Depreciation and amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.15 599.42 Td (50,089) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 599.42 Td (79,143) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 584.42 Td (\(Gain\) loss on sale of real estate investments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.80 584.47 Td (\(209,774) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 584.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 584.47 Td (\(50,094) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 584.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 569.42 Td (\(Gain\) loss on settlement of debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.65 569.42 Td (978) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 569.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 554.42 Td (Impairment losses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.15 554.42 Td (30,372) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 554.42 Td (16,033) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 539.42 Td (Equity in \(earnings\) losses of unconsolidated entities, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.65 539.42 Td (830) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 539.47 Td (\(27,703) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 539.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 524.42 Td (Distributions received from unconsolidated entities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.65 524.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 524.42 Td (27,703) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 509.42 Td (Other losses, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.65 509.42 Td (113) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 509.42 Td (113) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 494.42 Td (\(Gain\) loss on derivative instruments, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.80 494.47 Td (\(12,311) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 494.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 494.47 Td (\(11,449) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 494.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 479.42 Td (Net change in operating accounts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.80 479.47 Td (\(39,762) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 479.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 479.47 Td (\(24,954) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 479.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 464.42 Td (Net cash provided by operating activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 464.42 Td (3,952) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 464.42 Td (44,444) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 449.43 Td (CASH FLOWS FROM INVESTING ACTIVITIES:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.00 449.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 449.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 434.42 Td (Distributions received from unconsolidated entities in excess of equity in earnings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.15 434.42 Td (22,548) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 434.42 Td (53,361) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 419.42 Td (Investments in acquired properties and lease intangibles) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.65 419.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.80 419.47 Td (\(270,306) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 419.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 404.42 Td (Capital expenditures at operating properties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.80 404.47 Td (\(3,602) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 404.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 404.47 Td (\(9,639) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 404.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 389.42 Td (Proceeds from sale of real estate investments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.15 389.42 Td (916,187) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 389.42 Td (231,486) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 374.42 Td (Change in restricted cash) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.80 374.47 Td (\(1,380) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 374.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 374.42 Td (1,250) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 359.42 Td (Net cash provided by \(used in\) investing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.15 359.42 Td (933,753) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 359.42 Td (6,152) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 344.43 Td (CASH FLOWS FROM FINANCING ACTIVITIES:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.00 344.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 344.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 329.42 Td (Change in security deposits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 329.42 Td (2,733) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 329.42 Td (355) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 314.42 Td (Redemption of common shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.80 314.47 Td (\(14,615) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 314.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 314.47 Td (\(26,892) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 314.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 299.42 Td (Payments of offering costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.30 299.47 Td (\(52) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 299.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 299.47 Td (\(28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 299.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 284.42 Td (Distributions paid to stockholders and noncontrolling interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.80 284.47 Td (\(34,487) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 284.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 284.47 Td (\(29,131) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 284.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 269.42 Td (Proceeds from notes payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.15 269.42 Td (280,600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 269.42 Td (298,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 254.42 Td (Payments on notes payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.30 254.47 Td (\(1,134,040) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 254.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.80 254.47 Td (\(298,231) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 254.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 239.42 Td (Payments on settlement of debt and derivative instruments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.80 239.47 Td (\(6,115) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 239.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 239.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 224.42 Td (Additions to deferred financing costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.30 224.47 Td (\(125) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 224.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 224.47 Td (\(257) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 224.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 209.42 Td (Net cash \(used in\) provided by financing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.80 209.47 Td (\(906,101) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 209.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 209.47 Td (\(56,184) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 209.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 194.43 Td (Effect of exchange rate changes on cash) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.65 194.42 Td (109) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 194.47 Td (\(337) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 194.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 179.43 Td (Net change in cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.15 179.42 Td (31,713) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 179.47 Td (\(5,925) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 179.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 164.43 Td (Cash and cash equivalents, beginning of period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.15 164.42 Td (69,743) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 164.42 Td (56,821) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 149.43 Td (Cash and cash equivalents, end of period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.00 149.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.15 149.42 Td (101,456) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.00 149.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 149.42 Td (50,896) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.00 133.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.25 121.25 Td (See notes to the condensed consolidated financial statements.) Tj ET Q endstream endobj 15 0 obj <> endobj 16 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 190.15 742.25 Td (HINES REAL) Tj ET Q q 0 0 0 rg BT 251.00 742.25 Td ( EST) Tj ET Q q 0 0 0 rg BT 271.66 742.25 Td (A) Tj ET Q q 0 0 0 rg BT 278.14 742.25 Td (TE INVESTMENT) Tj ET Q q 0 0 0 rg BT 361.04 742.25 Td ( ) Tj ET Q q 0 0 0 rg BT 363.36 742.25 Td (TRUST) Tj ET Q q 0 0 0 rg BT 395.96 742.25 Td (, INC.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 142.65 730.25 Td (NOTES) Tj ET Q q 0 0 0 rg BT 178.87 730.25 Td (T) Tj ET Q q 0 0 0 rg BT 185.36 730.25 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 320.75 730.25 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 399.93 730.25 Td ( ST) Tj ET Q q 0 0 0 rg BT 413.92 730.25 Td (A) Tj ET Q q 0 0 0 rg BT 420.40 730.25 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 182.80 718.25 Td (For) Tj ET Q q 0 0 0 rg BT 198.17 718.25 Td ( the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 216.50 718.25 Td (Nine Months Ended September) Tj ET Q q 0 0 0 rg BT 350.49 718.25 Td ( 30, 2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 387.99 718.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.11 718.25 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.11 718.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 272.35 706.25 Td (\(UNAUDITED\)) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (1.Organization) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 658.25 Td (The accompanying interim unaudited condensed consolidated financial information has been pr) Tj ET Q q 0 0 0 rg BT 452.58 658.25 Td (epar) Tj ET Q q 0 0 0 rg BT 470.53 658.25 Td (ed accor) Tj ET Q q 0 0 0 rg BT 504.87 658.25 Td (ding to the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (rules and r) Tj ET Q q 0 0 0 rg BT 93.52 646.25 Td (egulations of the United States Securities and Exchange Commission \(SEC\). Certain information and footnote ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (disclosur) Tj ET Q q 0 0 0 rg BT 86.30 634.25 Td (es normally included in financial statements pr) Tj ET Q q 0 0 0 rg BT 274.24 634.25 Td (epar) Tj ET Q q 0 0 0 rg BT 292.20 634.25 Td (ed in accor) Tj ET Q q 0 0 0 rg BT 336.81 634.25 Td (dance with accounting principles generally accepted in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 622.25 Td (the United States of ) Tj ET Q q 0 0 0 rg BT 130.92 622.25 Td (America \(GAAP\) have been condensed or omitted accor) Tj ET Q q 0 0 0 rg BT 366.87 622.25 Td (ding to such rules and r) Tj ET Q q 0 0 0 rg BT 461.78 622.25 Td (egulations. For further ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 610.25 Td (information, r) Tj ET Q q 0 0 0 rg BT 105.75 610.25 Td (efer to the financial statements and footnotes for the year ended ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 363.75 610.25 Td (December31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 442.34 610.25 Td ( included in Hines Real ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 598.25 Td (Estate Investment T) Tj ET Q q 0 0 0 rg BT 128.32 598.25 Td (rust, Inc.) Tj ET Q q 0 0 0 rg BT 166.19 598.25 Td (s ) Tj ET Q q 0 0 0 rg BT 172.40 598.25 Td (Annual Report on Form10-K for the year ended ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 368.76 598.25 Td (December31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 447.35 598.25 Td (. In the opinion of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 586.25 Td (management, all adjustments and eliminations, consisting only of normal r) Tj ET Q q 0 0 0 rg BT 349.34 586.25 Td (ecurring adjustments, necessary to pr) Tj ET Q q 0 0 0 rg BT 499.79 586.25 Td (esent fairly and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 574.25 Td (in conformity with GAAP) Tj ET Q q 0 0 0 rg BT 151.20 574.25 Td ( the financial position of Hines Real Estate Investment T) Tj ET Q q 0 0 0 rg BT 376.45 574.25 Td (rust, Inc. as of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 436.45 574.25 Td (September30, 2016) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 516.15 574.25 Td ( and the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (r) Tj ET Q q 0 0 0 rg BT 53.52 562.25 Td (esults of operations for the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 163.24 562.25 Td (thr) Tj ET Q q 0 0 0 rg BT 174.54 562.25 Td (ee and nine) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 220.63 562.25 Td ( months ended ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 280.90 562.25 Td (September30, 2016) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 360.61 562.25 Td ( and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 380.61 562.25 Td (2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 400.61 562.25 Td ( and cash flows for the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 493.95 562.25 Td (nine months ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 Td (ended) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 73.88 550.25 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 76.38 550.25 Td (September30, 2016) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 156.08 550.25 Td ( and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 176.08 550.25 Td (2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 196.08 550.25 Td ( have been included. The r) Tj ET Q q 0 0 0 rg BT 301.79 550.25 Td (esults of operations for such interim periods ar) Tj ET Q q 0 0 0 rg BT 490.03 550.25 Td (e not necessarily ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 538.25 Td (indicative of the r) Tj ET Q q 0 0 0 rg BT 120.44 538.25 Td (esults for the full year) Tj ET Q q 0 0 0 rg BT 207.10 538.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 514.25 Td (Hines Real Estate Investment ) Tj ET Q q 0 0 0 rg BT 188.34 514.25 Td (T) Tj ET Q q 0 0 0 rg BT 194.10 514.25 Td (rust, Inc., \(Hines REIT and, together with its consolidated subsidiaries, the Company\), ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td (was formed on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.38 502.25 Td (August5, 2003) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.77 502.25 Td ( under the General Corporation Law of the state of Maryland for the purpose of engaging in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.25 Td (business of investing in and owning interests in real estate. Beginning with its taxable year ended December 31, 2004, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.25 Td (Company operated and intends to continue to operate in a manner to qualify as a real estate investment trust \(REIT\) for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td (federal income tax purposes. ) Tj ET Q q 0 0 0 rg BT 167.28 466.25 Td (The Company is structured as an umbrella partnership REIT) Tj ET Q q 0 0 0 rg BT 408.70 466.25 Td ( under which substantially all of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.25 Td (Company) Tj ET Q q 0 0 0 rg BT 91.67 454.25 Td (s current and future business is and will be conducted through its majority-owned subsidiary) Tj ET Q q 0 0 0 rg BT 460.66 454.25 Td (, Hines REIT) Tj ET Q q 0 0 0 rg BT 513.53 454.25 Td ( Properties, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.25 Td (L.P) Tj ET Q q 0 0 0 rg BT 63.06 442.25 Td (. \(the Operating Partnership\). Hines REIT) Tj ET Q q 0 0 0 rg BT 239.21 442.25 Td ( is the sole general partner of the Operating Partnership. ) Tj ET Q q 0 0 0 rg BT 465.35 442.25 Td (The business of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.25 Td (Company is managed by Hines ) Tj ET Q q 0 0 0 rg BT 176.93 430.25 Td (Advisors Limited Partnership \(the Advisor\), an af) Tj ET Q q 0 0 0 rg BT 384.75 430.25 Td (filiate of Hines Interests Limited ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.25 Td (Partnership \(Hines\), pursuant to the advisory agreement between the Company and the ) Tj ET Q q 0 0 0 rg BT 407.95 418.25 Td (Advisor \(the Advisory ) Tj ET Q q 0 0 0 rg BT 504.33 418.25 Td (Agreement\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 394.25 Td (Hines REIT) Tj ET Q q 0 0 0 rg BT 115.87 394.25 Td ( has raised approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.83 394.25 Td ($2.7 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.95 394.25 Td ( through public of) Tj ET Q q 0 0 0 rg BT 338.70 394.25 Td (ferings of its common stock, including shares of its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.25 Td (common stock of) Tj ET Q q 0 0 0 rg BT 119.25 382.25 Td (fered pursuant to its dividend reinvestment plan, since Hines REIT) Tj ET Q q 0 0 0 rg BT 386.23 382.25 Td ( commenced its initial public of) Tj ET Q q 0 0 0 rg BT 512.96 382.25 Td (fering in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.25 Td (June 2004.) Tj ET Q q 0 0 0 rg BT 98.15 370.25 Td (The Company commenced a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.33 370.25 Td ($150.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.22 370.25 Td ( of) Tj ET Q q 0 0 0 rg BT 284.87 370.25 Td (fering of shares of its common stock under its dividend reinvestment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.25 Td (plan on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.22 358.25 Td (July1, 2010) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.39 358.25 Td (, which closed on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.87 358.25 Td (June30, 2012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.70 358.25 Td (, immediately prior to the commencement of the Company) Tj ET Q q 0 0 0 rg BT 497.14 358.25 Td (s subsequent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.25 Td ($300.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.89 346.25 Td ( of) Tj ET Q q 0 0 0 rg BT 119.54 346.25 Td (fering of shares of its common stock under its dividend reinvestment plan on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.20 346.25 Td (July1, 2012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.37 346.25 Td (. ) Tj ET Q q 0 0 0 rg BT 483.19 346.25 Td (The Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.25 Td (refers to both of) Tj ET Q q 0 0 0 rg BT 113.96 334.25 Td (ferings of shares under its dividend reinvestment plan collectively asthe DRP) Tj ET Q q 0 0 0 rg BT 429.35 334.25 Td ( Of) Tj ET Q q 0 0 0 rg BT 442.22 334.25 Td (fering. From inception of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.25 Td (the DRP) Tj ET Q q 0 0 0 rg BT 83.80 322.25 Td ( Of) Tj ET Q q 0 0 0 rg BT 96.67 322.25 Td (fering through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.66 322.25 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.92 322.25 Td (, Hines REIT) Tj ET Q q 0 0 0 rg BT 289.79 322.25 Td ( received gross of) Tj ET Q q 0 0 0 rg BT 360.41 322.25 Td (fering proceeds of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.65 322.25 Td ($214.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.55 322.25 Td ( from the sale of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.25 Td (28.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.89 310.25 Td ( shares through the DRP) Tj ET Q q 0 0 0 rg BT 196.29 310.25 Td ( Of) Tj ET Q q 0 0 0 rg BT 209.16 310.25 Td (fering.On May 31, 2016, the Company) Tj ET Q q 0 0 0 rg BT 369.97 310.25 Td (s board of directors voted to suspend ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.25 Td (indefinitely the Company) Tj ET Q q 0 0 0 rg BT 154.98 298.25 Td (s dividend reinvestment plan ef) Tj ET Q q 0 0 0 rg BT 280.32 298.25 Td (fective as of June 30, 2016. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 274.25 Td (Hines REIT) Tj ET Q q 0 0 0 rg BT 115.87 274.25 Td ( contributed all net proceeds from its public of) Tj ET Q q 0 0 0 rg BT 301.19 274.25 Td (ferings to the Operating Partnership in exchange for partnership ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.25 Td (units in the Operating Partnership. ) Tj ET Q q 0 0 0 rg BT 189.42 262.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 213.87 262.25 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.13 262.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.57 262.25 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 262.25 Td (, Hines REIT) Tj ET Q q 0 0 0 rg BT 445.02 262.25 Td ( owned a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.62 262.25 Td (91.1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.45 262.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.89 262.25 Td (91.8%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.72 262.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.25 Td (general partner interest, respectively) Tj ET Q q 0 0 0 rg BT 194.83 250.25 Td (, in the Operating Partnership. Hines 2005 ) Tj ET Q q 0 0 0 rg BT 366.01 250.25 Td (VS I LP) Tj ET Q q 0 0 0 rg BT 397.69 250.25 Td (, an af) Tj ET Q q 0 0 0 rg BT 422.21 250.25 Td (filiate of Hines, owned a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.29 250.25 Td (0.5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.12 250.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.25 Td (limited partnership interest in the Operating Partnership as of both ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.71 238.25 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.98 238.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.42 238.25 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.00 238.25 Td (. In addition, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.25 Td (another af) Tj ET Q q 0 0 0 rg BT 90.07 226.25 Td (filiate of Hines, HALP) Tj ET Q q 0 0 0 rg BT 180.80 226.25 Td ( ) Tj ET Q q 0 0 0 rg BT 182.74 226.25 Td (Associates Limited Partnership \(HALP\), owned an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.97 226.25 Td (8.4%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.80 226.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.24 226.25 Td (7.7%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.07 226.25 Td ( profits interest \(the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.25 Td (Participation Interest\) in the Operating Partnership as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.48 214.25 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.74 214.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.18 214.25 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.76 214.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 516.43 214.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 190.25 Td (The Company has concentrated its ef) Tj ET Q q 0 0 0 rg BT 216.38 190.25 Td (forts on actively managing its assets and exploring a variety of strategic opportunities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.25 Td (focused on enhancing the composition of its portfolio and its total return potential for its stockholders.On June 29, 2016, in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.25 Td (connection with a review of potential strategic alternatives available to the Company) Tj ET Q q 0 0 0 rg BT 388.40 166.25 Td (, the Company) Tj ET Q q 0 0 0 rg BT 449.78 166.25 Td (s board of directors ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.25 Td (determined that it is in the best interest of the Company and its stockholders to sell all or substantially all of the Company) Tj ET Q q 0 0 0 rg BT 539.36 154.25 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.25 Td (properties and assets and liquidate and dissolve pursuant to a plan of liquidation and dissolution \(the Plan of Liquidation\). ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.25 Td (The principal purpose of the liquidation is to seek to maximize stockholder value by liquidating the Company) Tj ET Q q 0 0 0 rg BT 491.57 130.25 Td (s assets and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.25 Td (distributing the net proceeds of the liquidation to the holders of the Company) Tj ET Q q 0 0 0 rg BT 361.61 118.25 Td (s common stock. ) Tj ET Q q 0 0 0 rg BT 433.55 118.25 Td (As part of the Plan of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.25 Td (Liquidation, the Company and certain of its af) Tj ET Q q 0 0 0 rg BT 234.77 106.25 Td (filiates have entered into an ) Tj ET Q q 0 0 0 rg BT 347.23 106.25 Td (Agreement of Sale and Purchase, dated as of June 29, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.25 Td (2016, with BRE Hydra Property Owner LLC \(Purchaser and such agreement, the W) Tj ET Q q 0 0 0 rg BT 399.09 94.25 Td (est Coast ) Tj ET Q q 0 0 0 rg BT 437.43 94.25 Td (Asset ) Tj ET Q q 0 0 0 rg BT 461.60 94.25 Td (Agreement\) to sell to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.25 Td (Purchaser) Tj ET Q q 0 0 0 rg BT 89.03 82.25 Td (, an af) Tj ET Q q 0 0 0 rg BT 113.55 82.25 Td (filiate of Blackstone Real Estate Partners ) Tj ET Q q 0 0 0 rg BT 279.99 82.25 Td (VIII L.P) Tj ET Q q 0 0 0 rg BT 312.76 82.25 Td (., for a purchase price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.71 82.25 Td ($1.162 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.82 82.25 Td (, the following ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.93 82.25 Td (seven) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.70 82.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.25 Td (properties of the Company: Howard Hughes Center in Los ) Tj ET Q q 0 0 0 rg BT 286.34 70.25 Td (Angeles, California, Laguna Buildings in Redmond, ) Tj ET Q q 0 0 0 rg BT 497.52 70.25 Td (W) Tj ET Q q 0 0 0 rg BT 506.16 70.25 Td (ashington, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.25 Td (2100 Powell in Emeryville, California, 1900 and 2000 ) Tj ET Q q 0 0 0 rg BT 269.41 58.25 Td (Alameda in San Mateo, California, Daytona Buildings in Redmond, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 46.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 46.25 Td (ashington, 5th and Bell in Seattle, ) Tj ET Q q 0 0 0 rg BT 196.22 46.25 Td (W) Tj ET Q q 0 0 0 rg BT 204.85 46.25 Td (ashington and 2851 Junction ) Tj ET Q q 0 0 0 rg BT 321.51 46.25 Td (A) Tj ET Q q 0 0 0 rg BT 327.99 46.25 Td (venue in San Jose, California \(collectively) Tj ET Q q 0 0 0 rg BT 496.74 46.25 Td (, the W) Tj ET Q q 0 0 0 rg BT 529.53 46.25 Td (est ) Tj ET Q endstream endobj 17 0 obj <> endobj 18 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (Coast ) Tj ET Q q 0 0 0 rg BT 74.73 742.10 Td (Assets, and such transaction the W) Tj ET Q q 0 0 0 rg BT 222.21 742.10 Td (est Coast ) Tj ET Q q 0 0 0 rg BT 260.55 742.10 Td (Asset Sale\). ) Tj ET Q q 0 0 0 rg BT 319.70 742.10 Td (As required by Maryland law and the Company) Tj ET Q q 0 0 0 rg BT 513.27 742.10 Td (s charter) Tj ET Q q 0 0 0 rg BT 547.01 742.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (the Plan of Liquidation was approved by the af) Tj ET Q q 0 0 0 rg BT 237.55 730.10 Td (firmative vote of the holders of at least a majority of the shares of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (Company) Tj ET Q q 0 0 0 rg BT 91.67 718.10 Td (s common stock outstanding and entitled to vote thereon at the Company) Tj ET Q q 0 0 0 rg BT 386.33 718.10 Td (s annual meeting of shareholders held on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (November 7, 2016. ) Tj ET Q q 0 0 0 rg BT 132.03 706.10 Td (The ) Tj ET Q q 0 0 0 rg BT 149.89 706.10 Td (W) Tj ET Q q 0 0 0 rg BT 158.53 706.10 Td (est Coast ) Tj ET Q q 0 0 0 rg BT 196.87 706.10 Td (Asset Sale closed thereafter on November 10, 2016. If the sale of all or substantially all of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (the Company) Tj ET Q q 0 0 0 rg BT 106.38 694.10 Td (s assets is completed as expected, the Company expects to make one or more liquidating distributions to its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (stockholders during the period of the liquidation process and expects to make the first of these liquidating distributions to its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (stockholders prior to December 31, 2016. ) Tj ET Q q 0 0 0 rg BT 218.67 670.10 Td (There can be no assurances regarding the amounts of any distributions or the timing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (thereof. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 59.00 634.10 Td (Dir) Tj ET Q q 0 0 0 rg BT 72.52 634.10 Td (ectly-owned and Indir) Tj ET Q q 0 0 0 rg BT 160.46 634.10 Td (ectly-owned Pr) Tj ET Q q 0 0 0 rg BT 220.90 634.10 Td (operties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 610.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.44 610.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.71 610.10 Td (, the Company owned direct and indirect investments in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.77 610.10 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.77 610.10 Td ( properties. ) Tj ET Q q 0 0 0 rg BT 456.07 610.10 Td (These properties ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (consisted of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 100.55 598.10 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.55 598.10 Td ( U.S. of) Tj ET Q q 0 0 0 rg BT 141.48 598.10 Td (fice properties and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.39 598.10 Td (one) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.83 598.10 Td ( grocery-anchored shopping center) Tj ET Q q 0 0 0 rg BT 371.38 598.10 Td (. See Note 3 Real Estate Investments ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (Property Sales for more information. ) Tj ET Q q 0 0 0 rg BT 201.91 586.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.36 586.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.62 586.10 Td (, the directly-owned assets were classified as held for sale. See ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (Note 2 Summary of Significant ) Tj ET Q q 0 0 0 rg BT 189.99 574.10 Td (Accounting Policies ) Tj ET Q q 0 0 0 rg BT 285.25 574.10 Td (Assets Held for Sale and ) Tj ET Q q 0 0 0 rg BT 386.07 574.10 Td (Associated Liabilities Held for Sale for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (additional information. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 538.10 Td (The Company made investments directly through entities that are wholly-owned by the Operating Partnership, or indirectly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (through other entities, such as through its investment in Hines USCore Of) Tj ET Q q 0 0 0 rg BT 347.84 526.10 Td (fice Fund LP) Tj ET Q q 0 0 0 rg BT 399.68 526.10 Td ( \(the Core Fund\) in which it owned a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (28.8%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.83 514.10 Td ( non-managing general partner interest as of both ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.21 514.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.47 514.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.91 514.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.49 514.10 Td (. ) Tj ET Q q 0 0 0 rg BT 458.31 514.10 Td (The Company accounts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (for its investment in the Core Fund using the equity method of accounting. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 478.10 Td (Unconsolidated VIEs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 454.10 Td (The Company has a non-managing general partner interest of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.97 454.10 Td (28.8%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.80 454.10 Td ( in the Core Fund. ) Tj ET Q q 0 0 0 rg BT 416.61 454.10 Td (The Core Fund was determined to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (be a variable interest entity \(VIE\) in which the Company was determined not to be the primary beneficiary since the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (managing general partner has the ability to direct the activities that significantly impact the economic performance of the ) Tj ET Q q 0 0 0 rg BT 536.30 430.10 Td (VIE. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 109.71 418.10 Td (s maximum loss exposure is expected to change in future periods as a result of additional contributions made. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (Other than the initial capital contributions provided by the Company) Tj ET Q q 0 0 0 rg BT 323.46 406.10 Td (, the Company has not provided any additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (subordinated financial support. See Note 5 Investments in Unconsolidated Entities for information regarding the activity of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (the Company) Tj ET Q q 0 0 0 rg BT 106.38 382.10 Td (s unconsolidated entities as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.86 382.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.12 382.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.56 382.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.56 382.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 358.10 Td (The table below summarizes the Company) Tj ET Q q 0 0 0 rg BT 241.56 358.10 Td (s maximum loss exposure related to its investment in the unconsolidated ) Tj ET Q q 0 0 0 rg BT 533.83 358.10 Td (VIE as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.83 346.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.09 346.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.53 346.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.12 346.10 Td (, which is equal to the carrying value of its investment in the unconsolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (VIE included in the balance sheet line item Investment in unconsolidated entities as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.11 334.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.37 334.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 322.10 Td ( \(in thousands\).) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 285.60 150.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 199.50 285.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 203.50 285.60 158.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.50 285.60 16.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.50 285.60 168.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 545.50 285.60 16.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 285.6 m 199.5 285.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 203.5 285.6 m 361.5 285.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377.5 285.6 m 545.5 285.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 545.5 285.6 m 561.5 285.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 109.80 290.28 Td (Period) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 206.35 290.28 Td (Investment in Unconsolidated VIEs) Tj ET Q BT /F1 6.50 Tf ET q 0 0 0 rg BT 364.00 295.43 Td (\(1\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 411.40 290.28 Td (Maximum Risk of Loss) Tj ET Q BT /F1 6.50 Tf ET q 0 0 0 rg BT 548.00 295.43 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 275.27 Td (September 30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.00 275.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.15 275.27 Td (77,451) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.00 275.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.15 275.27 Td (77,451) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 260.27 Td (December 31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.00 260.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.15 260.27 Td (100,455) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.00 260.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.15 260.27 Td (100,455) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 232.10 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 86.00 232.10 Td (Represents the Company) Tj ET Q q 0 0 0 rg BT 188.76 232.10 Td (s contributions, net of distributions, made to its ) Tj ET Q q 0 0 0 rg BT 379.68 232.10 Td (VIEs, as well as the Company) Tj ET Q q 0 0 0 rg BT 502.99 232.10 Td (s share of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 220.10 Td (equity in earnings \(losses\) on the investment as of the date indicated.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 196.10 Td (2.Summary of Significant ) Tj ET Q q 0 0 0 rg BT 163.54 196.10 Td (Accounting Policies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 172.10 Td (Described below are certain of the Company) Tj ET Q q 0 0 0 rg BT 249.60 172.10 Td (s significant accounting policies. ) Tj ET Q q 0 0 0 rg BT 385.50 172.10 Td (The disclosures regarding several of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 160.10 Td (policies have been condensed or omitted in accordance with interim reporting regulations specified by Form 10-Q. Please see ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 148.10 Td (the Company) Tj ET Q q 0 0 0 rg BT 106.38 148.10 Td (s ) Tj ET Q q 0 0 0 rg BT 112.22 148.10 Td (Annual Report on Form 10-K for the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.56 148.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.14 148.10 Td ( for a complete listing of all of its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 136.10 Td (significant accounting policies. ) Tj ET Q endstream endobj 19 0 obj <> endobj 20 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (7) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 59.00 742.10 Td (Basis of Pr) Tj ET Q q 0 0 0 rg BT 103.08 742.10 Td (esentation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 718.10 Td (The condensed consolidated financial statements of the Company included in this Quarterly Report on Form 10-Q include ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (the accounts of Hines REIT) Tj ET Q q 0 0 0 rg BT 160.34 706.10 Td (, the Operating Partnership and the Operating Partnership) Tj ET Q q 0 0 0 rg BT 393.05 706.10 Td (s wholly-owned subsidiaries as well as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (the related amounts of noncontrolling interests. ) Tj ET Q q 0 0 0 rg BT 243.29 694.10 Td (All intercompany balances and transactions have been eliminated in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (consolidation. ) Tj ET Q q 0 0 0 rg BT 108.33 682.10 Td (As a result of the adoption of ) Tj ET Q q 0 0 0 rg BT 226.92 682.10 Td (Accounting Standards Update \(ASU\) 2015-02, the Company has determined that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (the Operating Partnership is considered a ) Tj ET Q q 0 0 0 rg BT 216.99 670.10 Td (VIE. However) Tj ET Q q 0 0 0 rg BT 277.40 670.10 Td (, the Company meets the disclosure exemption criteria under ) Tj ET Q q 0 0 0 rg BT 522.33 670.10 Td (ASU ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (2015-02, as the Company is the primary beneficiary of the ) Tj ET Q q 0 0 0 rg BT 286.14 658.10 Td (VIE and the Company) Tj ET Q q 0 0 0 rg BT 378.62 658.10 Td (s partnership interest is considered a majority ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (voting interest. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 622.10 Td (The Company has retroactively changed, for all prior periods presented, its classification of distributions in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (consolidated balance sheets and statements of equity by reflecting such distributions as char) Tj ET Q q 0 0 0 rg BT 417.49 610.10 Td (ges against accumulated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (distributions in excess of earnings. ) Tj ET Q q 0 0 0 rg BT 197.85 598.10 Td (This presentation change had no impact on the total equity balances in any of the periods ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (presented.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 562.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 127.71 562.10 Td (s investments in partially-owned real estate joint ventures and partnerships are reviewed for impairment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (periodically) Tj ET Q q 0 0 0 rg BT 97.11 550.10 Td (. ) Tj ET Q q 0 0 0 rg BT 101.93 550.10 Td (The Company will record an impairment char) Tj ET Q q 0 0 0 rg BT 285.02 550.10 Td (ge if it determines that a decline in the value of an investment below ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (its carrying value is other than temporary) Tj ET Q q 0 0 0 rg BT 214.30 538.10 Td (.) Tj ET Q q 0 0 0 rg BT 221.62 538.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 281.33 538.10 Td (s analysis will be dependent on a number of factors, including the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (performance of each investment, current market conditions, and its intent and ability to hold the investment to full recovery) Tj ET Q q 0 0 0 rg BT 543.09 526.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (Based on the Company) Tj ET Q q 0 0 0 rg BT 145.82 514.10 Td (s analysis of the facts and circumstances at each reporting period, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.17 514.10 Td (no) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.17 514.10 Td ( impairment was recorded related ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (to its investment in the Core Fund for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.48 502.10 Td (three and nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.12 502.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.95 502.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.21 502.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 502.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.65 502.10 Td (. However) Tj ET Q q 0 0 0 rg BT 498.40 502.10 Td (, if market ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (conditions deteriorate in the future and result in lower valuations or reduced cash flows of the Company) Tj ET Q q 0 0 0 rg BT 468.77 490.10 Td (s remaining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (investment in the Core Fund, impairment char) Tj ET Q q 0 0 0 rg BT 234.50 478.10 Td (ges may be recorded in future periods.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 59.00 454.10 Td (International Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 430.10 Td (In addition to its properties in the United States, the Company has owned investments in Canada and Brazil, although the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (Company no longer owns any operating investments outside the United States as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.89 418.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 418.10 Td (. ) Tj ET Q q 0 0 0 rg BT 474.10 418.10 Td (Accumulated other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (comprehensive income \(loss\) as of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.35 406.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.61 406.10 Td ( is related to the remaining non-operating net assets of the disposed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (directly-owned properties in Brazil and Canada.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 59.00 370.10 Td (Assets Held for Sale and ) Tj ET Q q 0 0 0 rg BT 159.64 370.10 Td (Associated Liabilities Held for Sale) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 346.10 Td (In June 2016, the Company) Tj ET Q q 0 0 0 rg BT 181.04 346.10 Td (s board of directors approved the Plan of Liquidation.In addition, as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.47 346.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.74 346.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (all of the Company) Tj ET Q q 0 0 0 rg BT 129.71 334.10 Td (s directly-held properties were under contract to sell, except for a property which was being marketed for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (sale as of that date and now is sold as of the date of this filing. ) Tj ET Q q 0 0 0 rg BT 301.15 322.10 Td (The Company determined that the ) Tj ET Q q 0 0 0 rg BT 440.10 322.10 Td (W) Tj ET Q q 0 0 0 rg BT 448.74 322.10 Td (est Coast ) Tj ET Q q 0 0 0 rg BT 487.07 322.10 Td (Assets were a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (disposal group, as they were under contract to sell in one transaction to the same buyer) Tj ET Q q 0 0 0 rg BT 396.57 310.10 Td (. ) Tj ET Q q 0 0 0 rg BT 403.52 310.10 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 452.85 310.10 Td (, as of September 30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (2016, the Company determined that all of its directly-owned properties and their related assets and associated liabilities were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (classified as held for sale as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.68 286.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.94 286.10 Td (. ) Tj ET Q q 0 0 0 rg BT 261.89 286.10 Td (At December 31, 2015, no assets were classified as held for sale by the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (Company) Tj ET Q q 0 0 0 rg BT 88.24 274.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 250.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.44 250.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.71 250.10 Td (, assets held for sale consisted of the following \(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 213.60 386.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.50 213.60 126.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 183.60 386.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.50 183.60 126.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 153.60 386.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.50 153.60 126.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 123.60 386.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.50 123.60 126.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 435.5 213.60000000000002 m 561.5 213.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 435.5 108.60000000000002 m 561.5 108.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435.5 94.60000000000002 m 561.5 94.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435.5 92.60000000000002 m 561.5 92.60000000000002 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 456.25 218.28 Td (September 30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 203.27 Td (Investment property, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.00 203.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 203.27 Td (1,060,608) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 188.27 Td (Restricted cash) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 188.27 Td (2,668) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 173.27 Td (Tenant and other receivables, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 173.27 Td (18,967) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 158.27 Td (Intangible lease assets, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 158.27 Td (77,978) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 143.27 Td (Deferred leasing costs, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 143.27 Td (75,579) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 128.27 Td (Deferred financing costs, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 128.27 Td (312) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 113.27 Td (Other assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 113.27 Td (2,430) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 98.27 Td ( Total assets held for sale) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.00 98.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 98.27 Td (1,238,542) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 21 0 obj <> endobj 22 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 742.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.44 742.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.71 742.10 Td (, liabilities associated with assets held for sale consisted of the following \(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 705.60 386.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.50 705.60 126.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 675.60 386.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.50 675.60 126.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 435.5 705.6 m 561.5 705.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 435.5 660.6 m 561.5 660.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435.5 646.6 m 561.5 646.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435.5 644.6 m 561.5 644.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 456.25 710.28 Td (September 30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 695.27 Td (Accounts payable and accrued expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.00 695.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 695.27 Td (33,857) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 680.27 Td (Intangible lease liabilities, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 680.27 Td (13,124) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 665.27 Td (Other liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 665.27 Td (15,140) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 650.27 Td ( Total liabilities associated with assets held for sale) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.00 650.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 650.27 Td (62,121) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 622.10 Td (As of June 30, 2016, the Company determined that all of its directly-owned properties were classified as held for sale, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (therefore, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.08 610.10 Td (no) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.08 610.10 Td ( depreciation and amortization were recorded on these assets for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.14 610.10 Td (three months ended September 30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.21 610.10 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 59.00 586.10 Td (Impairment of Investment Pr) Tj ET Q q 0 0 0 rg BT 173.88 586.10 Td (operty) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 562.10 Td (Real estate assets are reviewed for impairment in each reporting period if events or changes in circumstances indicate that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (the carrying amount of the individual property may not be recoverable. In such an event, a comparison will be made of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (current and projected cash flows of each property on an undiscounted basis to the carrying amount of such property) Tj ET Q q 0 0 0 rg BT 511.43 538.10 Td (.If ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (undiscounted cash flows are less than the carrying amount, such carrying amount would be adjusted, if necessary) Tj ET Q q 0 0 0 rg BT 502.00 526.10 Td (, to estimated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (fair values to reflect impairment in the value of the asset.) Tj ET Q q 0 0 0 rg BT 279.92 514.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.36 514.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.62 514.10 Td (, all assets are held for sale and impairment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (is assessed by comparing the carrying amount of the long-lived asset or disposal group, as applicable, to the fair value less cost ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (to sell. If the carrying amount is greater than the fair value less cost to sell, the asset value is considered impaired, and the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (carrying amount is written down to the fair value less cost to sell. See Note 13 Fair ) Tj ET Q q 0 0 0 rg BT 398.63 478.10 Td (V) Tj ET Q q 0 0 0 rg BT 404.75 478.10 Td (alue Disclosures for additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (information regarding the Company) Tj ET Q q 0 0 0 rg BT 196.91 466.10 Td (s policy for determining fair values of its investment properties. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 442.10 Td (For the three months ended September 30, 2016, the Company determined that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.26 442.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.25 442.10 Td ( of its directly-owned properties ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (located in Dallas, ) Tj ET Q q 0 0 0 rg BT 122.02 430.10 Td (T) Tj ET Q q 0 0 0 rg BT 127.43 430.10 Td (exas, Houston, ) Tj ET Q q 0 0 0 rg BT 188.91 430.10 Td (T) Tj ET Q q 0 0 0 rg BT 194.32 430.10 Td (exas and Bellevue, ) Tj ET Q q 0 0 0 rg BT 271.88 430.10 Td (W) Tj ET Q q 0 0 0 rg BT 280.52 430.10 Td (ashington were impaired because such assets were classified as held ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (for sale and their carrying values exceeded their fair values less cost to sell primarily due to reduced purchase price or increased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (closing costs. ) Tj ET Q q 0 0 0 rg BT 105.83 406.10 Td (As a result, impairment losses were recorded related to those properties of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.90 406.10 Td ($6.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.79 406.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.17 406.10 Td (three months ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (ended September 30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.64 394.10 Td (. ) Tj ET Q q 0 0 0 rg BT 161.46 394.10 Td (The property located in Dallas, ) Tj ET Q q 0 0 0 rg BT 287.90 394.10 Td (T) Tj ET Q q 0 0 0 rg BT 293.31 394.10 Td (exas was sold in ) Tj ET Q q 0 0 0 rg BT 360.53 394.10 Td (August 2016. See Note 3 Real Estate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (Investments Property Sales for more information. ) Tj ET Q q 0 0 0 rg BT 262.74 382.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 312.64 382.10 Td (, for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.52 382.10 Td (nine months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.06 382.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.56 382.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.82 382.10 Td (, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (Company recorded impairment losses of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.68 370.10 Td ($30.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.57 370.10 Td ( on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.57 370.10 Td (four) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.23 370.10 Td ( of its directly-owned properties located in Melville, New ) Tj ET Q q 0 0 0 rg BT 532.57 370.10 Td (Y) Tj ET Q q 0 0 0 rg BT 538.79 370.10 Td (ork, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (Dallas, ) Tj ET Q q 0 0 0 rg BT 80.37 358.10 Td (T) Tj ET Q q 0 0 0 rg BT 85.78 358.10 Td (exas, Houston, ) Tj ET Q q 0 0 0 rg BT 147.26 358.10 Td (T) Tj ET Q q 0 0 0 rg BT 152.67 358.10 Td (exas and Bellevue, ) Tj ET Q q 0 0 0 rg BT 230.23 358.10 Td (W) Tj ET Q q 0 0 0 rg BT 238.87 358.10 Td (ashington because such assets were classified as held for sale and their carrying ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (values exceeded their fair values less cost to sell. For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.37 346.10 Td (three and nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.01 346.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.84 346.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.10 346.10 Td (, the Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (determined that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.98 334.10 Td (two) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.98 334.10 Td ( of its directly-owned properties located in Dallas, ) Tj ET Q q 0 0 0 rg BT 332.79 334.10 Td (T) Tj ET Q q 0 0 0 rg BT 338.20 334.10 Td (exas and Melville, New ) Tj ET Q q 0 0 0 rg BT 435.30 334.10 Td (Y) Tj ET Q q 0 0 0 rg BT 441.52 334.10 Td (ork were impaired since the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (projected undiscounted cash flows for these properties were less than their carrying values. ) Tj ET Q q 0 0 0 rg BT 415.99 322.10 Td (As a result, impairment losses of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td ($16.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.89 310.10 Td ( were recorded related to those properties for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.75 310.10 Td (three and nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.39 310.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.21 310.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.48 310.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 286.10 Td (During the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.55 286.10 Td (three months ended September 30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.62 286.10 Td (, impairment losses of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.44 286.10 Td ($30.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.33 286.10 Td ( were recorded related to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.22 286.10 Td (two) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.22 286.10 Td ( of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (Company's indirectly-owned properties located in Phoenix, ) Tj ET Q q 0 0 0 rg BT 289.25 274.10 Td (Arizona and ) Tj ET Q q 0 0 0 rg BT 340.72 274.10 Td (W) Tj ET Q q 0 0 0 rg BT 349.36 274.10 Td (oodland Hills, California. During the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.61 274.10 Td (nine months ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.88 262.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.38 262.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.64 262.10 Td (, impairment losses of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.46 262.10 Td ($66.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.35 262.10 Td ( were recorded related to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.24 262.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.22 262.10 Td ( of the Company) Tj ET Q q 0 0 0 rg BT 492.93 262.10 Td (s indirectly-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (owned properties located in Phoenix, ) Tj ET Q q 0 0 0 rg BT 200.52 250.10 Td (Arizona, Sacramento, California and ) Tj ET Q q 0 0 0 rg BT 349.73 250.10 Td (W) Tj ET Q q 0 0 0 rg BT 358.37 250.10 Td (oodland Hills, California. During the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.62 250.10 Td (three and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.22 238.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.04 238.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.31 238.10 Td (, impairment losses of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.13 238.10 Td ($16.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.02 238.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.46 238.10 Td ($38.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.35 238.10 Td ( were recorded related to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.23 238.10 Td (one) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.67 238.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (the Company) Tj ET Q q 0 0 0 rg BT 106.38 226.10 Td (s indirectly-owned properties located in Richmond, ) Tj ET Q q 0 0 0 rg BT 314.20 226.10 Td (V) Tj ET Q q 0 0 0 rg BT 320.83 226.10 Td (ir) Tj ET Q q 0 0 0 rg BT 326.75 226.10 Td (ginia. ) Tj ET Q q 0 0 0 rg BT 351.57 226.10 Td (The property located in Richmond, ) Tj ET Q q 0 0 0 rg BT 494.13 226.10 Td (V) Tj ET Q q 0 0 0 rg BT 500.75 226.10 Td (ir) Tj ET Q q 0 0 0 rg BT 506.67 226.10 Td (ginia was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (sold in December 2015. See Note 5 Investments in Unconsolidated Entities for additional information. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 59.00 190.10 Td (T) Tj ET Q q 0 0 0 rg BT 63.64 190.10 Td (enant and Other Receivables) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 166.10 Td (Receivable balances outstanding consist primarily of base rents, tenant reimbursements and receivables attributable to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (straight-line rent. ) Tj ET Q q 0 0 0 rg BT 123.32 154.10 Td (An allowance for the uncollectible portion of tenant and other receivables is determined based upon an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (analysis of the tenant) Tj ET Q q 0 0 0 rg BT 137.48 142.10 Td (s payment history) Tj ET Q q 0 0 0 rg BT 207.93 142.10 Td (, the financial condition of the tenant, business conditions in the industry in which the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (tenant operates and economic conditions in the area in which the property is located.) Tj ET Q q 0 0 0 rg BT 390.54 130.10 Td (T) Tj ET Q q 0 0 0 rg BT 395.95 130.10 Td (enant and other receivables are shown at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (cost in the table above describing assets held for sale, net of allowance for doubtful accounts of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.76 118.10 Td ($1.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.66 118.10 Td ( at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.87 118.10 Td (September30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 106.10 Td (. ) Tj ET Q q 0 0 0 rg BT 74.82 106.10 Td (T) Tj ET Q q 0 0 0 rg BT 80.23 106.10 Td (enant and other receivables are shown at cost in the condensed consolidated balance sheets, net of allowance for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 Td (doubtful accounts of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 134.70 94.10 Td ($4.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.59 94.10 Td ( at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.81 94.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.39 94.10 Td (.) Tj ET Q endstream endobj 23 0 obj <> endobj 24 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (9) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 59.00 742.10 Td (Deferr) Tj ET Q q 0 0 0 rg BT 85.29 742.10 Td (ed Leasing Costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 718.10 Td (As of June 30, 2016, the Company determined that all of its directly-owned properties were classified as held for sale, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (therefore, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.08 706.10 Td (no) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.08 706.10 Td ( depreciation and amortization were recorded on these assets for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.14 706.10 Td (three months ended September 30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.21 706.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 694.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 682.10 Td (T) Tj ET Q q 0 0 0 rg BT 73.41 682.10 Td (enant inducement amortization was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.80 682.10 Td ($4.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.70 682.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.07 682.10 Td (three months ended September 30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.15 682.10 Td ( and was recorded as an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (of) Tj ET Q q 0 0 0 rg BT 58.15 670.10 Td (fset to rental revenue. In addition, the Company recorded ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.46 670.10 Td ($1.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.35 670.10 Td ( as amortization expense related to other direct leasing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (costs for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.38 658.10 Td (three months ended September 30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.45 658.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 634.10 Td (T) Tj ET Q q 0 0 0 rg BT 73.41 634.10 Td (enant inducement amortization was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.80 634.10 Td ($10.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.70 634.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.13 634.10 Td ($12.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.03 634.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.40 634.10 Td (nine months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.95 634.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.45 634.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.71 634.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 622.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 122.66 622.10 Td (, and was recorded as an of) Tj ET Q q 0 0 0 rg BT 231.04 622.10 Td (fset to rental revenue. In addition, the Company recorded ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.35 622.10 Td ($3.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.25 622.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.68 622.10 Td ($3.9 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 610.10 Td ( as amortization expense related to other direct leasing costs for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.46 610.10 Td (nine months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.00 610.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.50 610.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.76 610.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.20 610.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.20 610.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 97.66 598.10 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 59.00 574.10 Td (Deferr) Tj ET Q q 0 0 0 rg BT 85.29 574.10 Td (ed Financing Costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 550.10 Td (Deferred financing costs consist of direct costs incurred in obtaining debt financing. ) Tj ET Q q 0 0 0 rg BT 406.33 550.10 Td (These costs are presented as a direct ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (reduction to the related debt liability for permanent mortgages and presented as an asset for revolving credit arrangements. In ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (total, deferred financing costs were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.27 526.10 Td ($0.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.16 526.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.60 526.10 Td ($1.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.49 526.10 Td ( as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 526.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.92 526.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.36 526.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.94 526.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 97.66 514.10 Td (. ) Tj ET Q q 0 0 0 rg BT 104.98 514.10 Td (These costs are amortized into interest expense on a straight-line basis, which approximates the ef) Tj ET Q q 0 0 0 rg BT 496.62 514.10 Td (fective interest ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (method, over the terms of the obligations. For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.80 502.10 Td (three months ended September 30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.87 502.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.31 502.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.31 502.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.31 502.10 Td ($0.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.20 502.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.64 502.10 Td ($0.5 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 490.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 131.55 490.10 Td (, of deferred financing costs were amortized into interest expense in the accompanying consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (statements of operations. For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.31 478.10 Td (nine months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.85 478.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.35 478.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.61 478.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.05 478.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.05 478.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.05 478.10 Td ($1.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.94 478.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.38 478.10 Td ($1.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.27 478.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 555.93 478.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (of deferred financing costs were amortized into interest expense in the accompanying consolidated statements of operations. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 59.00 442.10 Td (Other ) Tj ET Q q 0 0 0 rg BT 84.65 442.10 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 418.10 Td (Other assets included the following \(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 392.60 315.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 392.60 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 392.60 17.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 392.60 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 362.60 315.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 362.60 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 362.60 17.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 362.60 90.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 392.6 m 455.5 392.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 392.6 m 562.5 392.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 347.6 m 455.5 347.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 347.6 m 562.5 347.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 333.6 m 455.5 333.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 331.6 m 455.5 331.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 333.6 m 562.5 333.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 331.6 m 562.5 331.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 368.25 397.28 Td (September 30, 2016) Tj ET Q BT /F1 6.50 Tf ET q 0 0 0 rg BT 458.00 402.43 Td (\(1\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.65 397.28 Td (December 31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 382.27 Td (Prepaid insurance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.00 382.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.65 382.27 Td (943) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.00 382.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.00 382.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 382.27 Td (663) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 367.27 Td (Prepaid taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.65 367.27 Td (227) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 367.27 Td (547) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 352.27 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.15 352.27 Td (1,260) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.00 352.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 352.27 Td (1,357) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 337.27 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.00 337.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.15 337.27 Td (2,430) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.00 337.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.00 337.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 337.27 Td (2,567) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 309.10 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 86.00 309.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.44 309.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.71 309.10 Td (, these amounts were classified as held for sale.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 59.00 285.10 Td (Revenue Recognition) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 261.10 Td (Rental payments are generally paid by the tenants prior to the beginning of each month. ) Tj ET Q q 0 0 0 rg BT 420.68 261.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.12 261.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.38 261.10 Td (, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 249.10 Td (Company recorded liabilities of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.41 249.10 Td ($6.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.30 249.10 Td ( related to prepaid rental payments which were included in other liabilities in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 237.10 Td (table above describing liabilities associated with assets held for sale. ) Tj ET Q q 0 0 0 rg BT 328.26 237.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.70 237.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.28 237.10 Td (, the Company recorded ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 225.10 Td (liabilities of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 100.55 225.10 Td ($8.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.44 225.10 Td ( related to prepaid rental payments which were included in other liabilities in the accompanying ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 213.10 Td (condensed consolidated balance sheets.) Tj ET Q q 0 0 0 rg BT 210.04 213.10 Td (The Company recognizes rental revenue on a straight-line basis over the life of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 201.10 Td (lease including rent holidays, if any) Tj ET Q q 0 0 0 rg BT 192.09 201.10 Td (. Straight-line rent receivable was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.26 201.10 Td ($16.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.15 201.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.59 201.10 Td ($36.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.48 201.10 Td ( as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.64 201.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 560.90 201.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 189.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.94 189.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.52 189.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 198.18 189.10 Td (. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 59.00 165.10 Td (Redemption of Common Stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 141.10 Td (Prior to its suspension as described below) Tj ET Q q 0 0 0 rg BT 234.55 141.10 Td (, the Company) Tj ET Q q 0 0 0 rg BT 295.93 141.10 Td (s share redemption program generally limited the funds available ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 129.10 Td (for redemption to the amount of proceeds received from the Company) Tj ET Q q 0 0 0 rg BT 333.24 129.10 Td (s dividend reinvestment plan in the prior quarter) Tj ET Q q 0 0 0 rg BT 525.69 129.10 Td (. ) Tj ET Q q 0 0 0 rg BT 533.01 129.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 117.10 Td (board of directors determined to waive this limitation of the share redemption program and fully honor all eligible requests ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 105.10 Td (received for the three months ended March 31, 2016, totaling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.70 105.10 Td ($7.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.59 105.10 Td (, which amount was in excess of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.50 105.10 Td ($5.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.39 105.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 93.10 Td (received from the issuance of shares pursuant to the dividend reinvestment plan in the prior quarter) Tj ET Q q 0 0 0 rg BT 445.71 93.10 Td (. ) Tj ET Q q 0 0 0 rg BT 450.53 93.10 Td (The board of directors ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 81.10 Td (determined to waive the limitation on the share redemption program and fully honor all eligible requests received for the year ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 69.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.38 69.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.96 69.10 Td (, totaling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.01 69.10 Td ($31.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.90 69.10 Td (, which was in excess of the $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.32 69.10 Td (21.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.21 69.10 Td ( received from the dividend ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 57.10 Td (reinvestment plan in the prior quarters.) Tj ET Q endstream endobj 25 0 obj <> endobj 26 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 742.10 Td (The Company has recorded liabilities of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.29 742.10 Td ($7.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.18 742.10 Td ( in accounts payable and accrued expenses in the accompanying ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (condensed consolidated balance sheets as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.38 730.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.96 730.10 Td (, related to shares that were tendered for redemption and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (approved by the board of directors but were not redeemed until the subsequent month. Such amounts have been included in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (redemption of common shares in the accompanying consolidated statements of equity based on a redemption price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.81 706.10 Td ($5.45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.31 706.10 Td ( per ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (share for ordinary share redemption requests and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.98 694.10 Td ($6.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.48 694.10 Td ( per share for redemption requests in connection with the death or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (disability of a stockholder made during the first three quarters of 2015 and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.20 682.10 Td ($6.65) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.70 682.10 Td ( per share for redemption requests in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (connection with the death or disability of a stockholder made during the fourth quarter of 2015 and first quarter of 2016. On ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (May 31, 2016, the Company) Tj ET Q q 0 0 0 rg BT 167.21 658.10 Td (s board of directors determined to suspend indefinitely the Company) Tj ET Q q 0 0 0 rg BT 444.65 658.10 Td (s share redemption program, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (ef) Tj ET Q q 0 0 0 rg BT 57.59 646.10 Td (fective as of June 30, 2016. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.78 646.10 Td (No) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.00 646.10 Td ( liabilities related to the Company) Tj ET Q q 0 0 0 rg BT 320.58 646.10 Td (s share redemption program were recorded in accounts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (payable and accrued expenses in the liabilities associated with assets held for sale as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.71 634.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.98 634.10 Td (. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 59.00 610.10 Td (Recent ) Tj ET Q q 0 0 0 rg BT 88.52 610.10 Td (Accounting Pr) Tj ET Q q 0 0 0 rg BT 146.19 610.10 Td (onouncements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 586.10 Td (In February 2015, the Financial ) Tj ET Q q 0 0 0 rg BT 196.31 586.10 Td (Accounting Standards Board \(F) Tj ET Q q 0 0 0 rg BT 326.93 586.10 Td (ASB\) issued amendments to the ) Tj ET Q q 0 0 0 rg BT 461.63 586.10 Td (Accounting Standards ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (Codification \(ASC or the Codification\) to provide guidance on consolidation evaluation for reporting or) Tj ET Q q 0 0 0 rg BT 483.31 574.10 Td (ganizations that are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (required to evaluate whether they should consolidate certain legal entities. ) Tj ET Q q 0 0 0 rg BT 351.38 562.10 Td (These amendments are ef) Tj ET Q q 0 0 0 rg BT 453.09 562.10 Td (fective for fiscal years, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (interim periods within those years, beginning after December 15, 2015 and early adoption is permitted. ) Tj ET Q q 0 0 0 rg BT 467.21 550.10 Td (The Company has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (evaluated the impact of the adoption of these amendments on its consolidated financial statements and has determined that the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (Company) Tj ET Q q 0 0 0 rg BT 91.67 526.10 Td (s operating partnership is considered a ) Tj ET Q q 0 0 0 rg BT 247.55 526.10 Td (VIE. However) Tj ET Q q 0 0 0 rg BT 307.96 526.10 Td (, the Company meets the disclosure exemption criteria, as the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (Company is the primary beneficiary of the ) Tj ET Q q 0 0 0 rg BT 222.27 514.10 Td (VIE and the Company) Tj ET Q q 0 0 0 rg BT 314.75 514.10 Td (s partnership interest is considered a majority voting interest. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (The Company has also determined that the Core Fund will be considered to be a ) Tj ET Q q 0 0 0 rg BT 373.35 502.10 Td (VIE as a result of this new guidance. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (However) Tj ET Q q 0 0 0 rg BT 86.25 490.10 Td (, the Company will not consolidate the Core Fund since the Company is not the primary beneficiary) Tj ET Q q 0 0 0 rg BT 485.24 490.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 466.10 Td (In September 2015, the F) Tj ET Q q 0 0 0 rg BT 168.63 466.10 Td (ASB issued new guidance that eliminates the requirement that an acquirer in a business ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (combination account for measurement-period adjustments retrospectively) Tj ET Q q 0 0 0 rg BT 343.97 454.10 Td (. Pursuant to the new guidance, an acquirer will ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (recognize a measurement-period adjustment during the period in which it determines the amount of the adjustment. ) Tj ET Q q 0 0 0 rg BT 516.35 442.10 Td (This new ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (guidance is ef) Tj ET Q q 0 0 0 rg BT 105.35 430.10 Td (fective for fiscal years, and interim periods within those years, beginning after December 15, 2015 and early ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (adoption is permitted. ) Tj ET Q q 0 0 0 rg BT 142.30 418.10 Td (The adoption of this new guidance did not have a material impact on the Company) Tj ET Q q 0 0 0 rg BT 476.10 418.10 Td (s financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 382.10 Td (In June 2016, the F) Tj ET Q q 0 0 0 rg BT 144.20 382.10 Td (ASB issued new guidance that requires the impairment of financial instruments to be based on expected ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (credit losses. ) Tj ET Q q 0 0 0 rg BT 106.47 370.10 Td (These amendments are ef) Tj ET Q q 0 0 0 rg BT 208.19 370.10 Td (fective for fiscal years and interim periods within those years, beginning after ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (December 15, 2019 and early adoption is permitted for years and interim periods within those years beginning after December ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (15, 2018. ) Tj ET Q q 0 0 0 rg BT 92.32 346.10 Td (The Company is currently assessing the impact the adoption of this guidancewill have on its financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 322.10 Td (In ) Tj ET Q q 0 0 0 rg BT 78.28 322.10 Td (August 2016, the F) Tj ET Q q 0 0 0 rg BT 154.21 322.10 Td (ASB issued amendments to the Codification to add or clarify guidance on the classification of certain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (cash receipts and payments in the statement of cash flows. ) Tj ET Q q 0 0 0 rg BT 288.08 310.10 Td (The amendments in the ) Tj ET Q q 0 0 0 rg BT 383.61 310.10 Td (ASU are ef) Tj ET Q q 0 0 0 rg BT 428.41 310.10 Td (fective for public entities for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (annual and interim periods in fiscal years beginning after December 15, 2017 and for all other entities for annual periods ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (beginning after December 15, 2018, and interim periods within fiscal years beginning after December 15, 2019 and early ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (adoption is permitted. ) Tj ET Q q 0 0 0 rg BT 142.30 274.10 Td (The Company does not believe the adoption of this guidance will have a material impact on its financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (statements.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (3.Real Estate Investments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 214.10 Td (Investment property consisted of the following \(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 176.60 315.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 176.60 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 176.60 17.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 176.60 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 146.60 315.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 146.60 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 146.60 17.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 146.60 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 116.60 315.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 116.60 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 116.60 17.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 116.60 90.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 176.60000000000002 m 455.5 176.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 176.60000000000002 m 562.5 176.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 176.60000000000002 m 455.5 176.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 176.60000000000002 m 562.5 176.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 146.60000000000002 m 455.5 146.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 146.60000000000002 m 562.5 146.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 146.60000000000002 m 455.5 146.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 116.60000000000002 m 455.5 116.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 116.60000000000002 m 562.5 116.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 116.60000000000002 m 455.5 116.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 102.60000000000002 m 455.5 102.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 100.60000000000002 m 455.5 100.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 102.60000000000002 m 562.5 102.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 100.60000000000002 m 562.5 100.60000000000002 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 181.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 368.25 181.28 Td (September 30, 2016) Tj ET Q BT /F1 6.50 Tf ET q 0 0 0 rg BT 458.00 186.43 Td (\(1\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.65 181.28 Td (December 31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 166.27 Td (Buildings and improvements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.00 166.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.15 166.27 Td (831,641) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.00 166.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 166.27 Td (1,427,955) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 151.27 Td (Less: accumulated depreciation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.80 151.32 Td (\(96,866) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.65 151.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.80 151.32 Td (\(167,200) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 151.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 136.27 Td (Buildings and improvements, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.15 136.27 Td (734,775) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 136.27 Td (1,260,755) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 121.27 Td (Land) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.15 121.27 Td (325,833) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 121.27 Td (437,701) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 106.27 Td (Investment property, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.00 106.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.65 106.27 Td (1,060,608) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.00 106.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 106.27 Td (1,698,456) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 78.10 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 86.00 78.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.44 78.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.71 78.10 Td (, these amounts were classified as held for sale.) Tj ET Q endstream endobj 27 0 obj <> endobj 28 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.15 31.60 Td (1) Tj ET Q q 0 0 0 rg BT 305.78 31.60 Td (1) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 59.00 742.10 Td (Pr) Tj ET Q q 0 0 0 rg BT 68.63 742.10 Td (operty Sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 718.10 Td (In ) Tj ET Q q 0 0 0 rg BT 78.28 718.10 Td (April 2016, the Company sold 1515 S. Street, an of) Tj ET Q q 0 0 0 rg BT 283.63 718.10 Td (fice building located in Sacramento, California. ) Tj ET Q q 0 0 0 rg BT 476.17 718.10 Td (The sales price for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (1515 S. Street was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 126.94 706.10 Td ($68.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 180.83 706.10 Td (. ) Tj ET Q q 0 0 0 rg BT 185.65 706.10 Td (The Company originally acquired 1515 S. Street in November 2005 for a purchase price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td ($66.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.89 694.10 Td (. ) Tj ET Q q 0 0 0 rg BT 108.71 694.10 Td (The Company recognized a gain on sale of this asset of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.26 694.10 Td ($12.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.15 694.10 Td (, which was recorded in gain \(loss\) on sale ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (of real estate investments on the condensed consolidated statements of operations and comprehensive income \(loss\) for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.02 682.10 Td (nine ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (months ended September 30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.59 670.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 646.10 Td (In May 2016, the Company sold 345 Inverness Drive and ) Tj ET Q q 0 0 0 rg BT 299.91 646.10 Td (Arapahoe Business Park, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.67 646.10 Td (two) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.67 646.10 Td ( of) Tj ET Q q 0 0 0 rg BT 428.32 646.10 Td (fice buildings located in Denver) Tj ET Q q 0 0 0 rg BT 556.21 646.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (Colorado. ) Tj ET Q q 0 0 0 rg BT 92.04 634.10 Td (The sales price for 345 Inverness Drive and ) Tj ET Q q 0 0 0 rg BT 268.64 634.10 Td (Arapahoe Business Park was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.95 634.10 Td ($78.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.84 634.10 Td (. ) Tj ET Q q 0 0 0 rg BT 445.66 634.10 Td (The Company originally ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (acquired 345 Inverness Drive and ) Tj ET Q q 0 0 0 rg BT 186.90 622.10 Td (Arapahoe Business Park in December 2008 for a purchase price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.97 622.10 Td ($66.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.86 622.10 Td (. ) Tj ET Q q 0 0 0 rg BT 514.68 622.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (Company recognized a gain on sale of this asset of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.50 610.10 Td ($23.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.39 610.10 Td (, which was recorded in gain \(loss\) on sale of real estate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (investments on the condensed consolidated statements of operations and comprehensive income \(loss\) for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.44 598.10 Td (nine months ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (ended September 30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.64 586.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 562.10 Td (In June 2016, the Company entered into a contract to sell 3 Huntington Quadrangle, an of) Tj ET Q q 0 0 0 rg BT 426.34 562.10 Td (fice building located in Melville, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (New ) Tj ET Q q 0 0 0 rg BT 71.01 550.10 Td (Y) Tj ET Q q 0 0 0 rg BT 77.23 550.10 Td (ork. ) Tj ET Q q 0 0 0 rg BT 95.38 550.10 Td (The sales price for 3 Huntington Quadrangle is expected to be approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.39 550.10 Td ($35.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.28 550.10 Td (, exclusive of transaction ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (costs and closing prorations. ) Tj ET Q q 0 0 0 rg BT 166.19 538.10 Td (The Company originally acquired 3 Huntington Quadrangle in July 2007 for a purchase price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td ($87.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.89 526.10 Td (. ) Tj ET Q q 0 0 0 rg BT 108.34 526.10 Td (Although the Company expects the closing of this sale to occur during the fourth quarter of 2016, there can be no ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (assurances as to if or when this sale will be completed.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 490.10 Td (In July 2016, the Company sold 3400 Data Drive, an of) Tj ET Q q 0 0 0 rg BT 290.01 490.10 Td (fice building located in Rancho Cordova, California. ) Tj ET Q q 0 0 0 rg BT 502.82 490.10 Td (The sales ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (price for 3400 Data Drive was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.84 478.10 Td ($26.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.73 478.10 Td (. ) Tj ET Q q 0 0 0 rg BT 232.55 478.10 Td (The Company acquired 3400 Data Drive in November 2006 for a purchase price ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.83 466.10 Td ($32.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.72 466.10 Td (. ) Tj ET Q q 0 0 0 rg BT 119.54 466.10 Td (The Company recognized a gain on sale of this asset of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.09 466.10 Td ($2.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.98 466.10 Td (, which was recorded in gain \(loss\) on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (sale of real estate investments on the condensed consolidated statements of operations and comprehensive income \(loss\) for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (three and nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 106.64 442.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.47 442.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.73 442.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 418.10 Td (In ) Tj ET Q q 0 0 0 rg BT 78.28 418.10 Td (August 2016, the Company sold JPMor) Tj ET Q q 0 0 0 rg BT 236.44 418.10 Td (gan Chase ) Tj ET Q q 0 0 0 rg BT 280.13 418.10 Td (T) Tj ET Q q 0 0 0 rg BT 285.54 418.10 Td (ower) Tj ET Q q 0 0 0 rg BT 305.13 418.10 Td (, an of) Tj ET Q q 0 0 0 rg BT 330.22 418.10 Td (fice building located in Dallas, ) Tj ET Q q 0 0 0 rg BT 455.56 418.10 Td (T) Tj ET Q q 0 0 0 rg BT 460.97 418.10 Td (exas. ) Tj ET Q q 0 0 0 rg BT 483.56 418.10 Td (The sales price for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (JPMor) Tj ET Q q 0 0 0 rg BT 76.49 406.10 Td (gan Chase ) Tj ET Q q 0 0 0 rg BT 120.19 406.10 Td (T) Tj ET Q q 0 0 0 rg BT 125.60 406.10 Td (ower was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.14 406.10 Td ($273.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.03 406.10 Td (. ) Tj ET Q q 0 0 0 rg BT 229.85 406.10 Td (The Company acquired JPMor) Tj ET Q q 0 0 0 rg BT 352.71 406.10 Td (gan Chase ) Tj ET Q q 0 0 0 rg BT 396.40 406.10 Td (T) Tj ET Q q 0 0 0 rg BT 401.81 406.10 Td (ower in November 2007 for a purchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 83.32 394.10 Td ($289.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.21 394.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 370.10 Td (In ) Tj ET Q q 0 0 0 rg BT 78.28 370.10 Td (August 2016, the Company sold ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.94 370.10 Td (seven) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.71 370.10 Td ( of the Grocery-Anchored Portfolio properties, exclusive of Champions ) Tj ET Q q 0 0 0 rg BT 520.79 370.10 Td (V) Tj ET Q q 0 0 0 rg BT 527.41 370.10 Td (illage, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (for an aggregate sales price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.71 358.10 Td ($158.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.61 358.10 Td (. ) Tj ET Q q 0 0 0 rg BT 236.43 358.10 Td (The Grocery-Anchored Portfolio consists of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.55 358.10 Td (eight) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.54 358.10 Td ( grocery-anchored shopping ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (centers that were acquired in January 2014 for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.70 346.10 Td ($178.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.59 346.10 Td ( in aggregate. ) Tj ET Q q 0 0 0 rg BT 353.05 346.10 Td (The Company recognized a gain on sale of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.88 346.10 Td (seven) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.65 346.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (the Grocery-Anchored Portfolio properties of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.11 334.10 Td ($42.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.00 334.10 Td (, which was recorded in gain \(loss\) on sale of real estate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (investments on the condensed consolidated statements of operations and comprehensive income \(loss\) for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.44 322.10 Td (three and nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.08 322.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.33 310.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.59 310.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 286.10 Td (In ) Tj ET Q q 0 0 0 rg BT 78.28 286.10 Td (August 2016, the Company sold 321 North Clark, an of) Tj ET Q q 0 0 0 rg BT 300.58 286.10 Td (fice building located in Chicago, Illinois. ) Tj ET Q q 0 0 0 rg BT 467.03 286.10 Td (The sales price for 321 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (North Clark was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.60 274.10 Td ($340.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.49 274.10 Td (. ) Tj ET Q q 0 0 0 rg BT 182.31 274.10 Td (The Company acquired 321 North Clark in ) Tj ET Q q 0 0 0 rg BT 356.44 274.10 Td (April 2006 for a purchase price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 274.10 Td ($247.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.89 274.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (The Company recognized a gain on sale of this asset of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.54 262.10 Td ($128.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.44 262.10 Td (, which was recorded in gain \(loss\) on sale of real estate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (investments on the condensed consolidated statements of operations and comprehensive income \(loss\) for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.44 250.10 Td (three and nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.08 250.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.33 238.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.59 238.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 214.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 117.90 214.10 Td (, the Company sold Champions ) Tj ET Q q 0 0 0 rg BT 246.05 214.10 Td (V) Tj ET Q q 0 0 0 rg BT 252.67 214.10 Td (illage in October 2016 and the ) Tj ET Q q 0 0 0 rg BT 376.34 214.10 Td (W) Tj ET Q q 0 0 0 rg BT 384.98 214.10 Td (est Coast ) Tj ET Q q 0 0 0 rg BT 423.32 214.10 Td (Assets and Civica Of) Tj ET Q q 0 0 0 rg BT 507.84 214.10 Td (fice ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (Commons in November 2016. See Note 15 Subsequent Events for information regarding each of these sales.) Tj ET Q endstream endobj 29 0 obj <> endobj 30 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (12) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 59.00 742.10 Td (Lease Intangibles) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 718.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.44 718.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.71 718.10 Td (, the cost basis and accumulated amortization related to lease intangibles were as follows ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (\(inthousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 644.60 249.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 299.50 644.60 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 644.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 644.60 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 644.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 644.60 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 614.60 249.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 299.50 614.60 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 614.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 614.60 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 614.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 614.60 85.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 299.5 668.6 m 384.5 668.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 384.5 668.6 m 388.5 668.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 668.6 m 473.5 668.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 473.5 668.6 m 477.5 668.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 668.6 m 562.5 668.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 299.5 644.6 m 384.5 644.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 644.6 m 473.5 644.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 644.6 m 562.5 644.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 299.5 644.6 m 384.5 644.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 299.5 614.6 m 384.5 614.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 614.6 m 473.5 614.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 614.6 m 562.5 614.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 299.5 600.6 m 384.5 600.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 299.5 598.6 m 384.5 598.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 600.6 m 473.5 600.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 598.6 m 473.5 598.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 600.6 m 562.5 600.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 598.6 m 562.5 598.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 673.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 362.65 673.28 Td (Lease Intangibles, Held for Sale) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 649.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 308.30 649.28 Td (In-Place Leases) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 398.55 659.28 Td (Out-of-Market) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 403.95 649.28 Td (Lease ) Tj ET Q q 0 0 0 rg BT 430.34 649.28 Td (Assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.55 659.28 Td (Out-of-Market) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.60 649.28 Td (Lease Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 634.27 Td (Cost) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.00 634.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.15 634.27 Td (154,743) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.00 634.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 634.27 Td (20,551) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 634.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 634.27 Td (25,363) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 619.27 Td (Less: accumulated amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.80 619.32 Td (\(82,566) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.65 619.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.80 619.32 Td (\(14,750) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 619.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 619.32 Td (\(12,239) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 619.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 604.27 Td (Net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.00 604.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.15 604.27 Td (72,177) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.00 604.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.15 604.27 Td (5,801) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 604.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 604.27 Td (13,124) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 576.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.44 576.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.03 576.10 Td (, the cost basis and accumulated amortization related to lease intangibles were as follows ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 564.10 Td (\(inthousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 502.60 249.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 299.50 502.60 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 502.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 502.60 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 502.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 502.60 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 472.60 249.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 299.50 472.60 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 472.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 472.60 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 472.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 472.60 85.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 299.5 526.6 m 384.5 526.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 384.5 526.6 m 388.5 526.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 526.6 m 473.5 526.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 473.5 526.6 m 477.5 526.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 526.6 m 562.5 526.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 299.5 502.6 m 384.5 502.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 502.6 m 473.5 502.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 502.6 m 562.5 502.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 299.5 472.6 m 384.5 472.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 472.6 m 473.5 472.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 472.6 m 562.5 472.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 299.5 458.6 m 384.5 458.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 299.5 456.6 m 384.5 456.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 458.6 m 473.5 458.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 456.6 m 473.5 456.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 458.6 m 562.5 458.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 456.6 m 562.5 456.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 531.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.10 531.28 Td (Lease Intangibles) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 507.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 308.30 507.28 Td (In-Place Leases) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 398.55 517.28 Td (Out-of-Market) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 403.95 507.28 Td (Lease ) Tj ET Q q 0 0 0 rg BT 430.34 507.28 Td (Assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.55 517.28 Td (Out-of-Market) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.60 507.28 Td (Lease Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 492.27 Td (Cost) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.00 492.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.15 492.27 Td (238,176) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.00 492.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 492.27 Td (35,158) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 492.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 492.27 Td (50,798) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 477.27 Td (Less: accumulated amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.80 477.32 Td (\(124,891) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.65 477.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.80 477.32 Td (\(24,178) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 477.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 477.32 Td (\(21,099) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 477.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 462.27 Td (Net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.00 462.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.15 462.27 Td (113,285) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.00 462.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 462.27 Td (10,980) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 462.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 462.27 Td (29,699) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 434.10 Td (As of June 30, 2016, the Company determined that all of its directly-owned properties were classified as held for sale, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 422.10 Td (therefore, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.08 422.10 Td (no) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.08 422.10 Td ( depreciation and amortization were recorded on these assets for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.14 422.10 Td (three months ended September 30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.21 422.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 398.10 Td (Amortization expense of in-place leases was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.49 398.10 Td ($10.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.38 398.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.76 398.10 Td (three months ended September 30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.83 398.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 386.10 Td (amortization of out-of-market leases, net, increased rental revenue by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.16 386.10 Td ($0.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.05 386.10 Td (. ) Tj ET Q q 0 0 0 rg BT 383.50 386.10 Td (Amortization expense of in-place leases was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 374.10 Td ($15.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.89 374.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.33 374.10 Td ($32.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.22 374.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.60 374.10 Td (nine months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.14 374.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.64 374.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.90 374.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.34 374.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.34 374.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 459.00 374.10 Td (, and amortization of out-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 362.10 Td (of-market leases, net, increased rental revenue by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.18 362.10 Td ($0.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.07 362.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.51 362.10 Td ($1.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.40 362.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 420.06 362.10 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 59.00 338.10 Td ( Leases) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 314.10 Td (In connection with its directly-owned properties, the Company has entered into non-cancelable lease agreements with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 302.10 Td (tenants for space. ) Tj ET Q q 0 0 0 rg BT 121.64 302.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 146.08 302.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.35 302.10 Td (, the approximate fixed future minimum rentals for the period from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.38 302.10 Td (October 1, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 290.10 Td (2016 through December 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.69 290.10 Td (, for each of the years ending December 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.11 290.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.11 290.10 Td ( through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.22 290.10 Td (2020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.22 290.10 Td ( and thereafter are as follows ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 278.10 Td (\(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 231.60 408.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 231.60 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 548.50 231.60 14.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 201.60 408.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 201.60 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 548.50 201.60 14.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 171.60 408.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 171.60 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 548.50 171.60 14.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 141.60 408.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 141.60 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 548.50 141.60 14.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 231.60000000000002 m 548.5 231.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 141.60000000000002 m 548.5 141.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 127.60000000000002 m 548.5 127.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 125.60000000000002 m 548.5 125.60000000000002 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 236.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 475.15 246.28 Td (Fixed Future) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 464.25 236.28 Td (Minimum Rentals) Tj ET Q BT /F1 6.50 Tf ET q 0 0 0 rg BT 551.00 241.43 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 221.27 Td (October 1, 2016 through December 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.00 221.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.15 221.27 Td (25,769) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 206.27 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.15 206.27 Td (102,014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 191.27 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.15 191.27 Td (89,441) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 176.27 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.15 176.27 Td (73,681) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 161.27 Td (2020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.15 161.27 Td (63,491) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 146.27 Td (Thereafter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.15 146.27 Td (187,309) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 131.27 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.00 131.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.15 131.27 Td (541,705) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 103.10 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 86.00 103.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.44 103.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.71 103.10 Td (, these amounts were related to assets classified as held for sale.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 79.10 Td (During the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.55 79.10 Td (nine months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.09 79.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.59 79.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.85 79.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.29 79.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.29 79.10 Td (, the Company did not earn more than 10% of its revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 67.10 Td (from any individual tenant.) Tj ET Q endstream endobj 31 0 obj <> endobj 32 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 742.25 Td (4. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 59.50 742.25 Td (Recent ) Tj ET Q q 0 0 0 rg BT 89.95 742.25 Td (Acquisitions of Real Estate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 718.25 Td (The Company did not make any property acquisitions during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.56 718.25 Td (three and nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.20 718.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.03 718.25 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.29 718.25 Td (. For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 706.25 Td (year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.58 706.25 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.17 706.25 Td (, the Company acquired the assets and assumed certain liabilities of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.87 706.25 Td (two) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.87 706.25 Td ( real estate operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 694.25 Td (properties located in the United States, for an aggregate net purchase price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.49 694.25 Td ($292.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.38 694.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 670.25 Td (The amounts recognized for major assets acquired as of the acquisition date were determined by allocating the purchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 658.25 Td (price of each property acquired in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.21 658.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.21 658.25 Td ( as follows \(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 48.75 579.75 120.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 168.75 579.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 172.75 579.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 232.75 579.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.75 579.75 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 308.75 579.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.75 579.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.75 579.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.75 579.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.75 579.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.75 579.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.75 579.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.75 579.75 62.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 48.75 593.75 m 168.75 593.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 172.75 593.75 m 232.75 593.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 236.75 593.75 m 308.75 593.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 312.75 593.75 m 362.75 593.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 366.75 593.75 m 426.75 593.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 430.75 593.75 m 495.75 593.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 499.75 593.75 m 561.75 593.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 48.75 579.75 m 168.75 579.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 75.40 598.43 Td (Property Name) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 177.75 608.43 Td (Acquisition) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 192.25 598.43 Td (Date) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 244.55 608.43 Td (Building and) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 241.20 598.43 Td (Improvements) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 325.85 598.43 Td (Land) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 378.75 618.43 Td (In-place) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 384.00 608.43 Td (Lease) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 372.35 598.43 Td (Intangibles) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.90 638.43 Td (Out-of-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.60 628.43 Td (Market) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.50 618.43 Td (Lease) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.60 608.43 Td (Intangibles,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 455.25 598.43 Td (Net) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.30 618.43 Td (Total) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 510.60 608.43 Td (Purchase) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.10 598.43 Td (Price) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 98.25 584.43 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.25 569.42 Td (Civica Office Commons) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.65 569.42 Td (02/11/2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.25 569.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.40 569.42 Td (141,037) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.25 569.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.40 569.42 Td (41,240) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.25 569.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.40 569.42 Td (26,190) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.25 569.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.05 569.47 Td (\(2,960) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.90 569.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.25 569.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.40 569.42 Td (205,507) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.25 554.42 Td (2851 Junction Avenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.45 554.42 Td (05/14/2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.25 554.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.40 554.42 Td (50,024) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.25 554.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.40 554.42 Td (24,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.25 554.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.40 554.42 Td (16,020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.25 554.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.05 554.47 Td (\(3,680) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.90 554.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.25 554.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.40 554.42 Td (86,864) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 526.25 Td (The weighted average amortization periods for the intangible assets and liabilities acquired in connection with the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.68 526.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.68 526.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 514.25 Td (acquisitions, as of the date of the acquisition, were as follows \(in years\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.25 465.75 146.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 195.25 465.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 199.25 465.75 118.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.25 465.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.25 465.75 118.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.25 465.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.25 465.75 118.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 199.25 479.75 m 317.25 479.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 317.25 479.75 m 321.25 479.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 321.25 479.75 m 439.25 479.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 439.25 479.75 m 443.25 479.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 443.25 479.75 m 561.25 479.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.25 465.75 m 195.25 465.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 224.55 484.43 Td (In-Place Leases) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 334.90 494.43 Td (Above-Market Lease) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 366.40 484.43 Td (Assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.45 494.43 Td (Below-Market Lease) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 480.35 484.43 Td (Liabilities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.75 470.43 Td (2015 Acquisitions:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.75 455.42 Td (Civica Office Commons) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.50 455.42 Td (3.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.50 455.42 Td (4.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.50 455.42 Td (3.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.75 440.42 Td (2851 Junction Avenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.00 440.42 Td (14.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.75 440.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.00 440.42 Td (14.4) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 412.25 Td (The table below includes the amounts of revenue and net income \(loss\) of the acquisitions completed during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.93 412.25 Td (nine ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 400.25 Td (months ended September 30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.09 400.25 Td (, which are included in the Company) Tj ET Q q 0 0 0 rg BT 338.33 400.25 Td (s condensed consolidated statements of operations and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 388.25 Td (comprehensive income \(loss\) for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.06 388.25 Td (three and nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.71 388.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.53 388.25 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.79 388.25 Td ( \(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.25 349.75 142.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 191.25 349.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 195.25 349.75 83.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 278.25 349.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.25 349.75 135.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.25 349.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.25 349.75 140.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.25 319.75 142.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 191.25 319.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 195.25 319.75 83.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 278.25 319.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.25 319.75 135.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.25 319.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.25 319.75 140.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.25 349.75 m 191.25 349.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 282.25 349.75 m 417.25 349.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 421.25 349.75 m 561.25 349.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 282.25 349.75 m 417.25 349.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 421.25 349.75 m 561.25 349.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 287.00 368.43 Td (For the Three Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 431.10 368.43 Td (For the Nine Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.75 354.43 Td (2015 Acquisitions) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 307.50 354.43 Td (September 30, 2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 449.00 354.43 Td (September 30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.75 339.42 Td (Civica Office Commons) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.75 339.42 Td (Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.75 339.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.90 339.42 Td (3,969) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.75 339.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.90 339.42 Td (9,849) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.75 324.42 Td (Net income \(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.75 324.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.05 324.47 Td (\(188) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.40 324.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.75 324.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.05 324.47 Td (\(947) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.40 324.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.75 309.42 Td (2851 Junction Avenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.75 309.42 Td (Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.75 309.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.90 309.42 Td (1,680) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.75 309.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.90 309.42 Td (2,571) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.75 294.42 Td (Net income \(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.75 294.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.40 294.42 Td (695) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.75 294.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.90 294.42 Td (1,028) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 266.25 Td (The following unaudited consolidated information is presented to give ef) Tj ET Q q 0 0 0 rg BT 359.19 266.25 Td (fect to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.67 266.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.67 266.25 Td ( acquisitions through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 254.25 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.76 254.25 Td ( as if the acquisitions occurred on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.67 254.25 Td (January1, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.27 254.25 Td (. ) Tj ET Q q 0 0 0 rg BT 335.09 254.25 Td (This information excludes activity that is non-recurring ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 242.25 Td (and not representative of the Company) Tj ET Q q 0 0 0 rg BT 207.51 242.25 Td (s future activity) Tj ET Q q 0 0 0 rg BT 269.62 242.25 Td (, primarily acquisition fees and expenses of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.68 242.25 Td ($1.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.57 242.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.01 242.25 Td ($1.3 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 230.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.39 230.25 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.77 230.25 Td (nine months ended September 30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.07 230.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.51 230.25 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.51 230.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 360.17 230.25 Td (. ) Tj ET Q q 0 0 0 rg BT 364.99 230.25 Td (The information below is not necessarily ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 218.25 Td (indicative of what the actual results of operations would have been had the Company completed these transactions on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 206.25 Td (January1, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.10 206.25 Td (, nor does it purport to represent the Company) Tj ET Q q 0 0 0 rg BT 300.56 206.25 Td (s future operations \(amounts in thousands, except per share ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 194.25 Td (amounts\): ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.25 131.75 200.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 249.25 131.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.25 131.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.25 131.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.25 131.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.25 131.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.25 131.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.25 131.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.25 101.75 200.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 249.25 101.75 75.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.25 101.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.25 101.75 75.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.25 101.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.25 101.75 75.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.25 101.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.25 101.75 75.00 -25.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 249.25 131.75 m 324.25 131.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 328.25 131.75 m 403.25 131.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 407.25 131.75 m 482.25 131.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 486.25 131.75 m 561.25 131.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 407.25 131.75 m 482.25 131.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 263.50 174.43 Td (For the Three Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 424.10 174.43 Td (For) Tj ET Q q 0 0 0 rg BT 439.47 174.43 Td ( the Nine Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 295.25 160.43 Td (September 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.25 160.43 Td (September 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 262.85 146.43 Td (Pro Forma) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 276.25 136.43 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 341.85 146.43 Td (Pro Forma) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 355.25 136.43 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 420.85 146.43 Td (Pro Forma) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 434.25 136.43 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 499.85 146.43 Td (Pro Forma) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 513.25 136.43 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.75 121.42 Td (Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.75 121.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.90 121.42 Td (55,205) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.75 121.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.90 121.42 Td (65,671) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.75 121.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.90 121.42 Td (168,928) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.75 121.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.90 121.42 Td (195,571) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.75 106.42 Td (Net income \(loss\) from continuing operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.75 106.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.55 106.47 Td (\(9,121) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.40 106.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.75 106.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.55 106.47 Td (\(15,034) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.40 106.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.75 106.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.90 106.42 Td (36,945) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.75 106.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.90 106.42 Td (67,353) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.75 91.42 Td (Basic and diluted income \(loss\) from continuing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.75 81.42 Td (operations per common share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.75 81.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.55 81.47 Td (\(0.04) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.40 81.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.75 81.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.55 81.47 Td (\(0.07) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.40 81.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.75 81.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.90 81.42 Td (0.17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.75 81.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.90 81.42 Td (0.30) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 33 0 obj <> endobj 34 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (14) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (5. Investments in Unconsolidated Entities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 718.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.44 718.25 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.71 718.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.15 718.25 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.73 718.25 Td (, the Company owned indirect investments in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.59 718.25 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.59 718.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.03 718.25 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.03 718.25 Td ( properties, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (respectively) Tj ET Q q 0 0 0 rg BT 97.66 706.25 Td (, through its interest in the Core Fund. ) Tj ET Q q 0 0 0 rg BT 252.47 706.25 Td (The Company has determined that the Core Fund is considered to be a ) Tj ET Q q 0 0 0 rg BT 536.38 706.25 Td (VIE. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 Td (See Note 1 Or) Tj ET Q q 0 0 0 rg BT 119.25 694.25 Td (ganization Unconsolidated ) Tj ET Q q 0 0 0 rg BT 240.98 694.25 Td (VIEs for additional information. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 670.25 Td ( ) Tj ET Q q 0 0 0 rg BT 70.32 670.25 Td (The table below presents the activity of the Company) Tj ET Q q 0 0 0 rg BT 286.93 670.25 Td (s unconsolidated entities as of and for the periods presented \(in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 596.75 232.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.50 596.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 596.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 596.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 596.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 596.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 596.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 596.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 566.75 232.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.50 566.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 566.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 566.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 566.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 566.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 566.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 566.75 67.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 282.5 596.75 m 349.5 596.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 596.75 m 420.5 596.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 596.75 m 491.5 596.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 596.75 m 562.5 596.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 282.5 596.75 m 349.5 596.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 596.75 m 420.5 596.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 596.75 m 491.5 596.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 596.75 m 562.5 596.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 551.75 m 491.5 551.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 551.75 m 562.5 551.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 282.5 551.75 m 349.5 551.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 282.5 537.75 m 349.5 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 282.5 535.75 m 349.5 535.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 551.75 m 420.5 551.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 537.75 m 420.5 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 535.75 m 420.5 535.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 537.75 m 491.5 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 535.75 m 491.5 535.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 537.75 m 562.5 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 535.75 m 562.5 535.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 616.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 305.50 626.43 Td (Three Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 320.50 616.43 Td (September 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.20 626.43 Td (Nine Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.50 616.43 Td (September 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 601.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 305.50 601.43 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 376.50 601.43 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.50 601.43 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.50 601.43 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 586.42 Td (Beginning balance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.00 586.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.15 586.42 Td (86,707) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.00 586.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.15 586.42 Td (146,803) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.00 586.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 586.42 Td (100,455) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 586.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 586.42 Td (187,668) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 571.42 Td (Distributions declared) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.80 571.47 Td (\(1,382) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.65 571.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.80 571.47 Td (\(2,275) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.65 571.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.80 571.47 Td (\(22,174) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.65 571.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 571.47 Td (\(76,140) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 571.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 556.42 Td (Equity in earnings \(losses\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.80 556.47 Td (\(7,874) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.65 556.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.80 556.47 Td (\(5,297) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.65 556.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.30 556.47 Td (\(830) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.65 556.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 556.42 Td (27,703) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 541.42 Td (Ending balance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.00 541.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.15 541.42 Td (77,451) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.00 541.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.15 541.42 Td (139,231) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.00 541.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 541.42 Td (77,451) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 541.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 541.42 Td (139,231) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 513.25 Td ( Condensed financial information for the Core Fund is summarized as follows \(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 433.75 322.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 372.50 433.75 93.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 433.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.50 433.75 93.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 403.75 322.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 372.50 403.75 93.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 403.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.50 403.75 93.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 373.75 322.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 372.50 373.75 93.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 373.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.50 373.75 93.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 345.75 322.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 372.50 345.75 93.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 345.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.50 345.75 93.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 315.75 322.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 372.50 315.75 93.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 315.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.50 315.75 93.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 285.75 322.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 372.50 285.75 93.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 285.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.50 285.75 93.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 255.75 322.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 372.50 255.75 93.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 255.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.50 255.75 93.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 372.5 448.75 m 465.5 448.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 448.75 m 562.5 448.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 372.5 373.75 m 465.5 373.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 373.75 m 562.5 373.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 372.5 359.75 m 465.5 359.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 372.5 357.75 m 465.5 357.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 359.75 m 562.5 359.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 357.75 m 562.5 357.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 372.5 255.75 m 465.5 255.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 255.75 m 562.5 255.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 372.5 241.75 m 465.5 241.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 372.5 239.75 m 465.5 239.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 241.75 m 562.5 241.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 239.75 m 562.5 239.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 180.20 481.43 Td (Condensed Consolidated Balance Sheets for the Core Fund) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 453.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 376.75 453.43 Td (September 30, 2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 475.15 453.43 Td (December 31, 2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 192.35 438.43 Td (ASSETS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.00 438.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.00 438.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 423.42 Td (Cash) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.00 423.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.15 423.42 Td (45,547) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.00 423.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 423.42 Td (45,471) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 408.42 Td (Investment property, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.65 408.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 408.42 Td (905,229) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 393.42 Td (Other assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.65 393.42 Td (257) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 393.42 Td (214,238) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 378.42 Td (Assets held for sale) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.15 378.42 Td (857,041) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 378.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 363.42 Td (Total Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.00 363.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.15 363.42 Td (902,845) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.00 363.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 363.42 Td (1,164,938) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 147.55 335.43 Td (LIABILITIES AND EQUITY) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.00 335.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 335.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 320.42 Td (Debt, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.00 320.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.65 320.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.00 320.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 320.42 Td (636,239) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 305.42 Td (Other liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.15 305.42 Td (8,907) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 305.42 Td (73,401) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 290.42 Td (Redeemable noncontrolling interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.15 290.42 Td (101,315) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 290.42 Td (124,413) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 275.42 Td (Liabilities associated with assets held for sale) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.15 275.42 Td (534,405) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 275.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 260.42 Td (Equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.15 260.42 Td (258,218) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 260.42 Td (330,885) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 245.42 Td (Total Liabilities and Equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.00 245.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.15 245.42 Td (902,845) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.00 245.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 245.42 Td (1,164,938) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 217.25 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 217.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.44 217.25 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.71 217.25 Td (, the Core Fund assets were classified as held for sale.) Tj ET Q endstream endobj 35 0 obj <> endobj 36 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 742.10 Td (The Core Fund sold ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.22 742.10 Td (two) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.22 742.10 Td ( properties during each of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.17 742.10 Td (nine months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.71 742.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.21 742.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.48 742.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.92 742.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.92 742.10 Td (, which is reflected ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (in the table below \(in thousands\). ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 626.60 232.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.50 626.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 626.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 626.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 626.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 626.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 626.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 626.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 596.60 232.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.50 596.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 596.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 596.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 596.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 596.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 596.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 596.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 566.60 232.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.50 566.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 566.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 566.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 566.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 566.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 566.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 566.60 67.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 282.5 641.6 m 349.5 641.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 641.6 m 420.5 641.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 641.6 m 491.5 641.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 641.6 m 562.5 641.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 282.5 581.6 m 349.5 581.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 581.6 m 420.5 581.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 282.5 581.6 m 349.5 581.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 581.6 m 420.5 581.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 581.6 m 491.5 581.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 581.6 m 562.5 581.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 282.5 551.6 m 349.5 551.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 551.6 m 420.5 551.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 551.6 m 491.5 551.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 551.6 m 562.5 551.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 282.5 537.6 m 349.5 537.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 282.5 535.6 m 349.5 535.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 537.6 m 420.5 537.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 535.6 m 420.5 535.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 537.6 m 491.5 537.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 535.6 m 491.5 535.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 537.6 m 562.5 537.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 535.6 m 562.5 535.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 157.80 698.28 Td (Condensed Consolidated Statements of Operations for the Core Fund) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 305.50 671.28 Td (Three Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 320.50 661.28 Td (September 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.20 671.28 Td (Nine Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.50 661.28 Td (September 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 646.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 305.50 646.28 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 376.50 646.28 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.50 646.28 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.50 646.28 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 631.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 616.27 Td (Total revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.00 616.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.15 616.27 Td (21,438) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.00 616.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.15 616.27 Td (38,470) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.00 616.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 616.27 Td (65,771) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 616.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 616.27 Td (124,199) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 601.27 Td (Total expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.15 601.27 Td (55,107) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.15 601.27 Td (59,277) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 601.27 Td (144,413) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 601.27 Td (174,912) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 586.27 Td (Gain \(loss\) on sale of real estate investments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 586.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 586.27 Td (902) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 586.27 Td (73,544) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 586.27 Td (168,504) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 571.27 Td (Net income \(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.80 571.32 Td (\(33,669) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.65 571.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.80 571.32 Td (\(19,905) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.65 571.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.80 571.32 Td (\(5,098) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.65 571.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 571.27 Td (117,791) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 556.27 Td (Less \(income\) loss allocated to noncontrolling interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.15 556.27 Td (8,905) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.15 556.27 Td (3,453) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.15 556.27 Td (9,430) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 556.32 Td (\(17,626) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 556.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 541.27 Td (Net income \(loss\) attributable to parent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.00 541.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.80 541.32 Td (\(24,764) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.65 541.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.00 541.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.80 541.32 Td (\(16,452) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.65 541.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.00 541.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.15 541.27 Td (4,332) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 541.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 541.27 Td (100,165) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 513.10 Td (The following discusses items of significance for the periods presented for the Company) Tj ET Q q 0 0 0 rg BT 425.13 513.10 Td (s equity method investments:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 489.10 Td (In January 2016, the Core Fund sold ) Tj ET Q q 0 0 0 rg BT 216.13 489.10 Td (The Carillon Building for a sales price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.31 489.10 Td ($147.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.20 489.10 Td (. ) Tj ET Q q 0 0 0 rg BT 447.02 489.10 Td (The Carillon Building was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 477.10 Td (acquired in July 2007 for a purchase price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.32 477.10 Td ($140.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.21 477.10 Td (. ) Tj ET Q q 0 0 0 rg BT 294.66 477.10 Td (As a result of the sale of ) Tj ET Q q 0 0 0 rg BT 394.17 477.10 Td (The Carillon Building, the Core Fund ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 465.10 Td (recorded a gain on sale of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.51 465.10 Td ($58.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.40 465.10 Td (. ) Tj ET Q q 0 0 0 rg BT 213.85 465.10 Td (As a result of the sale, the Company recognized a gain on sale of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.71 465.10 Td ($14.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.60 465.10 Td (, which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 453.10 Td (is included in equity in earnings \(losses\) of unconsolidated entities, net, in the condensed consolidated statements of operations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 441.10 Td (and comprehensive income \(loss\) for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.50 441.10 Td (nine months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.04 441.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.54 441.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.81 441.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 417.10 Td (In March 2016, the Core Fund sold 525 B Street for a sales price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.16 417.10 Td ($122.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.05 417.10 Td (. 525 B Street was acquired in ) Tj ET Q q 0 0 0 rg BT 521.25 417.10 Td (August ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 405.10 Td (2005 for a purchase price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 164.95 405.10 Td ($1) Tj ET Q q 0 0 0 rg BT 174.58 405.10 Td (16.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.47 405.10 Td (. ) Tj ET Q q 0 0 0 rg BT 227.92 405.10 Td (As a result of the sale of 525 B Street, the Core Fund recorded a gain on sale of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 393.10 Td ($14.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.89 393.10 Td (. ) Tj ET Q q 0 0 0 rg BT 108.34 393.10 Td (As a result of the sale, the Company recognized a gain on sale of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.20 393.10 Td ($3.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.09 393.10 Td (, which is included in equity in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 381.10 Td (earnings \(losses\) of unconsolidated entities, net, in the condensed consolidated statements of operations and comprehensive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 369.10 Td (income \(loss\) for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.53 369.10 Td (nine months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.07 369.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 213.57 369.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.84 369.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 345.10 Td (In January 2015, a subsidiary of the Core Fund sold its remaining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.68 345.10 Td (51%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.01 345.10 Td ( interest in the entity that owns One North ) Tj ET Q q 0 0 0 rg BT 521.63 345.10 Td (W) Tj ET Q q 0 0 0 rg BT 530.27 345.10 Td (acker ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 333.10 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.16 333.10 Td ($240.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.05 333.10 Td (. ) Tj ET Q q 0 0 0 rg BT 127.87 333.10 Td (The Core Fund previously sold a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.74 333.10 Td (49%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.07 333.10 Td ( noncontrolling interest in One North ) Tj ET Q q 0 0 0 rg BT 430.98 333.10 Td (W) Tj ET Q q 0 0 0 rg BT 439.61 333.10 Td (acker in December 201) Tj ET Q q 0 0 0 rg BT 532.25 333.10 Td (1. One ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 321.10 Td (North ) Tj ET Q q 0 0 0 rg BT 75.65 321.10 Td (W) Tj ET Q q 0 0 0 rg BT 84.29 321.10 Td (acker was acquired in March 2008 for a purchase price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.24 321.10 Td ($540.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.13 321.10 Td (. ) Tj ET Q q 0 0 0 rg BT 380.58 321.10 Td (As a result of the sale of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.99 321.10 Td (51%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.32 321.10 Td ( interest in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 309.10 Td (One North ) Tj ET Q q 0 0 0 rg BT 94.81 309.10 Td (W) Tj ET Q q 0 0 0 rg BT 103.45 309.10 Td (acker) Tj ET Q q 0 0 0 rg BT 124.69 309.10 Td (, the Core Fund recorded a gain on sale of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.92 309.10 Td ($140.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.81 309.10 Td (. ) Tj ET Q q 0 0 0 rg BT 360.76 309.10 Td (As a result of the sale, the Company recognized a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 297.10 Td (gain of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.55 297.10 Td ($34.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 134.44 297.10 Td (, which is included in equity in earnings \(losses\) of unconsolidated entities, net, in the condensed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 285.10 Td (consolidated statements of operations and comprehensive income \(loss\) for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.24 285.10 Td (nine months ended September 30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.55 285.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 261.10 Td (In ) Tj ET Q q 0 0 0 rg BT 78.28 261.10 Td (April 2015, the Core Fund sold Charlotte Plaza for a sales price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.99 261.10 Td ($160.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.88 261.10 Td (. Charlotte Plaza was acquired in June ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 249.10 Td (2007 for a purchase price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 164.95 249.10 Td ($175.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.84 249.10 Td (. ) Tj ET Q q 0 0 0 rg BT 228.29 249.10 Td (As a result of the sale of Charlotte Plaza, the Core Fund recognized a gain on sale ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 237.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.83 237.10 Td ($27.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.72 237.10 Td (. ) Tj ET Q q 0 0 0 rg BT 119.17 237.10 Td (As a result of the sale, the Company recognized a gain on sale of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.03 237.10 Td ($6.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.92 237.10 Td (, which is included in equity in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 225.10 Td (earnings \(losses\) of unconsolidated entities, net, in the condensed consolidated statements of operations and comprehensive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 213.10 Td (income \(loss\) for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.53 213.10 Td (nine months ended September 30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.84 213.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 189.10 Td (For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.11 189.10 Td (three months ended September 30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.18 189.10 Td (, the Core Fund recorded impairment losses of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.20 189.10 Td ($30.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.09 189.10 Td ( on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 177.10 Td (Renaissance Square in Phoenix, ) Tj ET Q q 0 0 0 rg BT 179.70 177.10 Td (Arizona and ) Tj ET Q q 0 0 0 rg BT 231.16 177.10 Td (W) Tj ET Q q 0 0 0 rg BT 239.80 177.10 Td (arner Center in ) Tj ET Q q 0 0 0 rg BT 302.09 177.10 Td (W) Tj ET Q q 0 0 0 rg BT 310.73 177.10 Td (oodland Hills, California since such long-lived assets had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 165.10 Td (carrying values that exceeded their fair values based on a purchase and sale agreement or third-party guidance received during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 153.10 Td (its marketing process. For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.09 153.10 Td (nine months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.63 153.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.13 153.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.39 153.10 Td (, the Core Fund recorded impairment losses of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.41 153.10 Td ($66.6 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 141.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 141.10 Td ( on Renaissance Square in Phoenix, ) Tj ET Q q 0 0 0 rg BT 223.59 141.10 Td (Arizona, ) Tj ET Q q 0 0 0 rg BT 260.62 141.10 Td (W) Tj ET Q q 0 0 0 rg BT 269.25 141.10 Td (ells Far) Tj ET Q q 0 0 0 rg BT 298.79 141.10 Td (go Center in Sacramento, California and ) Tj ET Q q 0 0 0 rg BT 462.72 141.10 Td (W) Tj ET Q q 0 0 0 rg BT 471.36 141.10 Td (arner Center in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 129.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 129.10 Td (oodland Hills, California since such long-lived assets had carrying values that exceeded their fair values based on a purchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 117.10 Td (and sale agreement or third-party guidance received during its marketing process. For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.87 117.10 Td (three and nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.51 117.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 105.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.26 105.10 Td (, the Core Fund recorded impairment losses of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.28 105.10 Td ($16.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.17 105.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.61 105.10 Td ($38.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.50 105.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 498.16 105.10 Td (, on Riverfront ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 93.10 Td (Plaza in Richmond, ) Tj ET Q q 0 0 0 rg BT 130.92 93.10 Td (V) Tj ET Q q 0 0 0 rg BT 137.54 93.10 Td (ir) Tj ET Q q 0 0 0 rg BT 143.47 93.10 Td (ginia due to deterioration of market conditions. Riverfront Plaza was sold in December 2015.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 69.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.44 69.10 Td (November14, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.15 69.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.15 69.10 Td (two) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.15 69.10 Td ( of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.20 69.10 Td (four) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.86 69.10 Td ( Core Fund properties that were remaining as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.97 69.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.23 69.10 Td ( had been ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 57.10 Td (sold, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.61 57.10 Td (one) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.05 57.10 Td ( property was under contract to sell and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.55 57.10 Td (one) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.99 57.10 Td ( property was being marketed for sale. See Item2. Management) Tj ET Q q 0 0 0 rg BT 539.29 57.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 45.10 Td (Discussion and ) Tj ET Q q 0 0 0 rg BT 112.78 45.10 Td (Analysis of Financial Condition and Results of Operations Executive Summary for additional information.) Tj ET Q endstream endobj 37 0 obj <> endobj 38 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (16) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (6.Debt Financing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 706.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.44 706.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.03 706.10 Td (, the Company had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.07 706.10 Td ($853.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.96 706.10 Td ( of debt outstanding with a weighted average years to maturity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.83 694.10 Td (1.1 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.93 694.10 Td ( and a weighted average interest rate of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.29 694.10 Td (3.9%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.12 694.10 Td (. ) Tj ET Q q 0 0 0 rg BT 281.57 694.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.02 694.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.28 694.10 Td (, the Company does not have any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (outstanding notes payable balances. ) Tj ET Q q 0 0 0 rg BT 195.61 682.10 Td (The following table includes all of the Company) Tj ET Q q 0 0 0 rg BT 392.51 682.10 Td (s outstanding notes payable balances as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.26 670.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.70 670.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.29 670.10 Td ( \(in thousands, except interest rates\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 588.60 186.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 588.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.50 588.60 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 588.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.50 588.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 588.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.50 588.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 588.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.50 588.60 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 588.60 15.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 588.60 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 558.60 186.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 558.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.50 558.60 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 558.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.50 558.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 558.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.50 558.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 558.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.50 558.60 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 558.60 15.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 558.60 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 528.60 186.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 528.60 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.50 528.60 52.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 528.60 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.50 528.60 60.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 528.60 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.50 528.60 55.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 528.60 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.50 528.60 64.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 528.60 15.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 528.60 64.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 489.60 186.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 489.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.50 489.60 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 489.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.50 489.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 489.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.50 489.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 489.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.50 489.60 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 489.60 15.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 489.60 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 459.60 186.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 459.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.50 459.60 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 459.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.50 459.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 459.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.50 459.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 459.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.50 459.60 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 459.60 15.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 459.60 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 419.60 186.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 419.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.50 419.60 52.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 419.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.50 419.60 60.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 419.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.50 419.60 55.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 419.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.50 419.60 64.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 419.60 15.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 419.60 64.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 379.60 186.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 379.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.50 379.60 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 379.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.50 379.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 379.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.50 379.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 379.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.50 379.60 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 379.60 15.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 379.60 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 349.60 186.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 349.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.50 349.60 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 349.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.50 349.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 349.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.50 349.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 349.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.50 349.60 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 349.60 15.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 349.60 64.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 603.6 m 236.5 603.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 603.6 m 292.5 603.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 296.5 603.6 m 356.5 603.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 360.5 603.6 m 415.5 603.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 419.5 603.6 m 483.5 603.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 603.6 m 562.5 603.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 419.5 394.6 m 483.5 394.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 394.6 m 562.5 394.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 419.5 349.6 m 483.5 349.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 349.6 m 562.5 349.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419.5 335.6 m 483.5 335.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419.5 333.6 m 483.5 333.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 335.6 m 562.5 335.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 333.6 m 562.5 333.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 608.28 Td (Description) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 246.55 618.28 Td (Maturity) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 256.00 608.28 Td (Date) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 309.40 628.28 Td (Interest) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 316.00 618.28 Td (Rate) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.25 608.28 Td (Description) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 370.90 638.28 Td (Interest) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 366.35 628.28 Td (Rate as of) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 364.50 618.28 Td (September) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 370.00 608.28 Td (30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.00 608.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 431.25 638.28 Td (Principal) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 424.30 628.28 Td (Outstanding) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 422.60 618.28 Td (at September) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.50 608.28 Td (30, 2016) Tj ET Q BT /F1 6.50 Tf ET q 0 0 0 rg BT 486.00 613.43 Td (\(1\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 510.25 638.28 Td (Principal) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 503.30 628.28 Td (Outstanding) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 503.00 618.28 Td (at December) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.50 608.28 Td (31, 2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 593.28 Td (SECURED MORTGAGE DEBT) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.00 593.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.50 593.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.00 593.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.00 593.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.00 593.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 578.27 Td (1515S.Street ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 111.89 582.80 Td (\(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.20 578.27 Td (9/1/2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.65 578.27 Td (N/A) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.90 578.27 Td ( N/A) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.00 578.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.00 578.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 578.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.00 578.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 578.27 Td (36,618) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 563.27 Td (345 Inverness Drive ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 136.59 567.80 Td (\(3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.40 563.27 Td (12/11/2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.65 563.27 Td (N/A) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.90 563.27 Td ( N/A) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.00 563.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 563.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 563.27 Td (14,224) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 548.27 Td (JPMor) Tj ET Q q 0 0 0 rg BT 79.49 548.27 Td (gan Chase ) Tj ET Q q 0 0 0 rg BT 123.19 548.27 Td (T) Tj ET Q q 0 0 0 rg BT 128.60 548.27 Td (ower ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 151.09 552.80 Td (\(4\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.20 548.27 Td (2/1/2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.65 548.27 Td (N/A) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.90 548.27 Td ( N/A) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.00 548.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 548.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 548.27 Td (149,542) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 533.27 Td (Thompson Bridge Commons ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 171.61 537.80 Td (\(5\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.20 533.27 Td (3/1/2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.65 533.27 Td (N/A) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.90 533.27 Td ( N/A) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 533.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 533.27 Td (4,959) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 519.28 Td (DEUTSCHE BANK POOLED ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 509.28 Td (MOR) Tj ET Q q 0 0 0 rg BT 77.09 509.28 Td (TGAGE F) Tj ET Q q 0 0 0 rg BT 121.07 509.28 Td (ACILITY) Tj ET Q q 0 0 0 rg BT 163.49 509.28 Td ( ) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 165.99 513.81 Td (\(6\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.00 509.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.50 509.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.00 509.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.00 509.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.00 509.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 495.17 Td (321 North Clark, 1900 and 2000 ) Tj ET Q q 0 0 0 rg BT 184.93 495.17 Td (Alameda ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 223.53 499.70 Td (\(7\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.20 495.17 Td (8/1/2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.65 495.17 Td (N/A) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.90 495.17 Td ( N/A) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 495.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 495.17 Td (169,697) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 480.17 Td (3400 Data Drive, 2100 Powell ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 177.42 484.70 Td (\(8\) \(9\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.70 480.17 Td (1/23/2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.65 480.17 Td (N/A) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.90 480.17 Td ( N/A) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 480.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 480.17 Td (98,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 465.17 Td (Daytona and Laguna Buildings ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 180.20 469.70 Td (\(9\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.20 465.17 Td (5/2/2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.65 465.17 Td (N/A) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.90 465.17 Td ( N/A) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 465.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 465.17 Td (119,000) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 449.28 Td (OTHER NOTES PAYABLE) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.00 449.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.50 449.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 449.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 449.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 434.27 Td (JPMor) Tj ET Q q 0 0 0 rg BT 79.49 434.27 Td (gan Chase Revolving Credit Facility - ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 424.27 Td (Revolving Loan ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 120.21 428.80 Td (\(10\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.20 435.17 Td (4/1/2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.30 435.17 Td (Variable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.55 435.17 Td (2.13%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 435.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 435.17 Td (61,400) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 409.27 Td (JPMor) Tj ET Q q 0 0 0 rg BT 79.49 409.27 Td (gan Chase Revolving Credit Facility - ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 399.27 Td (T) Tj ET Q q 0 0 0 rg BT 58.41 399.27 Td (erm Loan ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 99.50 403.80 Td (\(10\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.20 410.17 Td (4/1/2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.65 410.17 Td (N/A) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.90 410.17 Td ( N/A) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 410.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 410.17 Td (200,000) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 384.28 Td (TOTAL PRINCIPAL OUTSTANDING) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.00 384.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.50 384.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.00 384.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 384.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 384.27 Td (853,440) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 369.27 Td (Unamortized Premium/ \(Discount\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 192.41 373.80 Td ( \(1) Tj ET Q BT /F1 6.50 Tf ET q 0 0 0 rg BT 199.21 373.80 Td (1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.00 369.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.50 369.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.00 369.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 369.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 369.32 Td (\(6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 369.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 354.27 Td (Unamortized Deferred Financing Fees) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 354.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 354.32 Td (\(1,189) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 354.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 339.28 Td (NOTES PAYABLE) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.00 339.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.50 339.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.00 339.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.00 339.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 339.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.00 339.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 339.27 Td (852,245) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 564.00 335.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 311.10 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 311.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.44 311.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.71 311.10 Td (, these amounts were classified as held for sale.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 287.10 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 287.10 Td (In ) Tj ET Q q 0 0 0 rg BT 96.28 287.10 Td (April 2016, the Company sold 1515 S. Street and paid of) Tj ET Q q 0 0 0 rg BT 323.85 287.10 Td (f the 1515 S. Street secured mortgage loan with proceeds ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 275.10 Td (from the sale. ) Tj ET Q q 0 0 0 rg BT 143.02 275.10 Td (The Company also incurred a prepayment penalty of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.28 275.10 Td ($0.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.17 275.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 251.10 Td (\(3\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 251.10 Td (In May 2016, the Company sold 345 Inverness Drive and paid of) Tj ET Q q 0 0 0 rg BT 346.33 251.10 Td (f the 345 Inverness Drive secured mortgage loan. ) Tj ET Q q 0 0 0 rg BT 545.80 251.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 239.10 Td (Company also incurred a prepayment penalty of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.21 239.10 Td ($0.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.11 239.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 215.10 Td (\(4\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 215.10 Td (In January 2016, the Company made a payment of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.39 215.10 Td ($100.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.28 215.10 Td ( to pay down the JPMor) Tj ET Q q 0 0 0 rg BT 444.93 215.10 Td (gan Chase ) Tj ET Q q 0 0 0 rg BT 488.63 215.10 Td (T) Tj ET Q q 0 0 0 rg BT 494.04 215.10 Td (ower secured ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 203.10 Td (mortgage debt. ) Tj ET Q q 0 0 0 rg BT 150.43 203.10 Td (Also, in January 2016, the maturity date of the remaining loan balance was extended for an additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 191.10 Td (year to February 1, 2017. In ) Tj ET Q q 0 0 0 rg BT 202.36 191.10 Td (August, the Company sold JPMor) Tj ET Q q 0 0 0 rg BT 338.02 191.10 Td (gan Chase ) Tj ET Q q 0 0 0 rg BT 381.72 191.10 Td (T) Tj ET Q q 0 0 0 rg BT 387.13 191.10 Td (ower and paid of) Tj ET Q q 0 0 0 rg BT 454.42 191.10 Td (f the JPMor) Tj ET Q q 0 0 0 rg BT 501.46 191.10 Td (gan Chase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 179.10 Td (T) Tj ET Q q 0 0 0 rg BT 91.41 179.10 Td (ower secured mortgage loan with proceeds from the sale.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 155.10 Td (\(5\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 155.10 Td (In ) Tj ET Q q 0 0 0 rg BT 96.28 155.10 Td (August 2016, the Company sold ) Tj ET Q q 0 0 0 rg BT 227.76 155.10 Td (Thompson Bridge Commons and paid of) Tj ET Q q 0 0 0 rg BT 391.18 155.10 Td (f the ) Tj ET Q q 0 0 0 rg BT 411.55 155.10 Td (Thompson Bridge Commons secured ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 143.10 Td (mortgage loan with proceeds from the sale. ) Tj ET Q q 0 0 0 rg BT 261.32 143.10 Td (The Company also incurred a prepayment penalty of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.58 143.10 Td ($0.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.47 143.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 119.10 Td (\(6\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 119.10 Td (In December 2015, HSH Nordbank sold its interest in the HSH Credit Facility and its related swap agreements to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 107.10 Td (Deutsche Bank ) Tj ET Q q 0 0 0 rg BT 148.76 107.10 Td (AG, New ) Tj ET Q q 0 0 0 rg BT 189.22 107.10 Td (Y) Tj ET Q q 0 0 0 rg BT 195.44 107.10 Td (ork Branch \(Deutsche Bank\). No other terms or conditions of the credit facility were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 95.10 Td (changed.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 71.10 Td (\(7\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 71.10 Td (In ) Tj ET Q q 0 0 0 rg BT 96.28 71.10 Td (August 2016, the Company paid of) Tj ET Q q 0 0 0 rg BT 236.64 71.10 Td (f the outstanding debt balance with Deutsche Bank related to 321 North Clark ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 59.10 Td (and 1900 and 2000 ) Tj ET Q q 0 0 0 rg BT 164.33 59.10 Td (Alameda.) Tj ET Q endstream endobj 39 0 obj <> endobj 40 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (\(8\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 742.10 Td (In July 2016, the Company sold 3400 Data Drive and paid of) Tj ET Q q 0 0 0 rg BT 330.22 742.10 Td (f the outstanding debt balance of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.51 742.10 Td ($18.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.41 742.10 Td ( with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 730.10 Td (Deutsche Bank related to 3400 Data Drive.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 718.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (\(9\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 706.10 Td (In ) Tj ET Q q 0 0 0 rg BT 96.28 706.10 Td (August 2016, the Company paid of) Tj ET Q q 0 0 0 rg BT 236.64 706.10 Td (f the outstanding debt balance with Deutsche Bank related to 2100 Powell, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 694.10 Td (Daytona and Laguna Buildings. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (\(10\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 670.10 Td (During the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.55 670.10 Td (nine months ended September 30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.85 670.10 Td (, the Company borrowed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.78 670.10 Td ($280.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.67 670.10 Td ( under the JPMor) Tj ET Q q 0 0 0 rg BT 519.65 670.10 Td (gan Chase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 658.10 Td (Revolving Credit Facility - Revolving Loan. In addition, the Company made a payment of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.82 658.10 Td ($225.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.71 658.10 Td ( to fully pay ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 646.10 Td (down the balance on the JPMor) Tj ET Q q 0 0 0 rg BT 212.18 646.10 Td (gan Chase Revolving Credit Facility - Revolving Loan with proceeds from the sales of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 634.10 Td (JPMor) Tj ET Q q 0 0 0 rg BT 112.49 634.10 Td (gan Chase ) Tj ET Q q 0 0 0 rg BT 156.19 634.10 Td (T) Tj ET Q q 0 0 0 rg BT 161.60 634.10 Td (ower and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.03 634.10 Td (seven) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.80 634.10 Td ( of the Grocery-Anchored Portfolio properties. Further) Tj ET Q q 0 0 0 rg BT 441.94 634.10 Td (, the Company also made a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 622.10 Td (payment of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.76 622.10 Td ($200.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.66 622.10 Td ( to fully pay down the balance on the JPMor) Tj ET Q q 0 0 0 rg BT 369.94 622.10 Td (gan Chase Revolving Credit Facility - ) Tj ET Q q 0 0 0 rg BT 524.18 622.10 Td (T) Tj ET Q q 0 0 0 rg BT 529.59 622.10 Td (erm ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 610.10 Td (Loan. Of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.32 610.10 Td ($200.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.21 610.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.21 610.10 Td ($132.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.10 610.10 Td ( were proceeds from the sale of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.10 610.10 Td (seven) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.87 610.10 Td ( of the Grocery-Anchored Portfolio ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 598.10 Td (properties and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.42 598.10 Td ($68.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.32 598.10 Td ( were proceeds from the sale of 321 North Clark.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (\(1) Tj ET Q q 0 0 0 rg BT 57.96 574.10 Td (1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 574.10 Td (The Company assumed notes payable in connection with various acquisitions, which were recorded at their estimated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 562.10 Td (fair value as of the date of acquisition. ) Tj ET Q q 0 0 0 rg BT 241.60 562.10 Td (The dif) Tj ET Q q 0 0 0 rg BT 270.57 562.10 Td (ference between the fair value at acquisition and the principal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 550.10 Td (outstanding is amortized over the term of the related note.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 526.10 Td (The Company is not aware of any instances of noncompliance with financial covenants as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.50 526.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.76 526.10 Td (.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (7.Derivative Instruments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 478.10 Td (The Company had several interest rate swap transactions with Deutsche Bank, who purchased the interest in the swaps ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (from HSH Nordbank in December 2015. ) Tj ET Q q 0 0 0 rg BT 215.62 466.10 Td (These swap transactions were entered into as economic hedges against the variability ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (of future interest rates on the Company) Tj ET Q q 0 0 0 rg BT 209.40 454.10 Td (s variable interest rate borrowings under the Deutsche Bank Credit Facility) Tj ET Q q 0 0 0 rg BT 508.66 454.10 Td (. ) Tj ET Q q 0 0 0 rg BT 513.48 454.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (Company had not designated any of its derivative instruments as hedging instruments for accounting purposes. ) Tj ET Q q 0 0 0 rg BT 495.84 442.10 Td (The interest rate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (swaps had been recorded at their estimated fair value in the accompanying condensed consolidated balance sheets and changes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (in the fair value were recorded in gain \(loss\) on derivative instruments, net in the Company) Tj ET Q q 0 0 0 rg BT 417.67 418.10 Td (s condensed consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (statements of operations. ) Tj ET Q q 0 0 0 rg BT 151.65 406.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.09 406.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.35 406.10 Td (, the Company has terminated all of its interest rate swap contracts in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (connection with payment of all of its outstanding debt obligations related to such interest rate swap contracts. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 370.10 Td (The Company has not entered into any master netting arrangements with its third-party counterparties and does not of) Tj ET Q q 0 0 0 rg BT 539.08 370.10 Td (fset ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (on its consolidated condensed balance sheets the fair value amounts recorded for derivative instruments. ) Tj ET Q q 0 0 0 rg BT 469.40 358.10 Td (The table below ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (presents the fair value of the Company) Tj ET Q q 0 0 0 rg BT 207.73 346.10 Td (s derivative instruments included in Liabilities Interest rate swap contracts on the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (Company) Tj ET Q q 0 0 0 rg BT 91.67 334.10 Td (s condensed consolidated balance sheets as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.44 334.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.02 334.10 Td ( \(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 272.60 338.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 272.60 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 272.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 272.60 85.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 473.5 296.6 m 477.5 296.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 296.6 m 562.5 296.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 296.6 m 473.5 296.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 272.6 m 473.5 272.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 272.6 m 562.5 272.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 257.6 m 473.5 257.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 272.6 m 562.5 272.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 257.6 m 562.5 257.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 257.6 m 473.5 257.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 243.60000000000002 m 473.5 243.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 241.60000000000002 m 473.5 241.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 257.6 m 562.5 257.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 243.60000000000002 m 562.5 243.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 241.60000000000002 m 562.5 241.60000000000002 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 301.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 407.70 301.28 Td (Liability Derivatives Fair Value) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 53.00 277.28 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.25 277.28 Td (Derivatives not designated as hedging instruments for) Tj ET Q q 0 0 0 rg BT 282.51 277.28 Td ( accounting purposes:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 400.00 287.28 Td (September 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 420.50 277.28 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 490.40 287.28 Td (December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 509.50 277.28 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 262.27 Td (Interest rate swap contracts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.00 262.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.65 262.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 262.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 262.27 Td (17,448) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 247.27 Td (Total derivatives) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.00 247.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.65 247.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 247.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 247.27 Td (17,448) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 231.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 219.10 Td (The table below presents the ef) Tj ET Q q 0 0 0 rg BT 192.49 219.10 Td (fects of the changes in fair value of the Company) Tj ET Q q 0 0 0 rg BT 392.15 219.10 Td (s derivative instruments in the Company) Tj ET Q q 0 0 0 rg BT 556.84 219.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 207.10 Td (condensed consolidated statements of operations and comprehensive income \(loss\) for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.95 207.10 Td (three and nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.59 207.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 195.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.26 195.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.70 195.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.70 195.10 Td ( \(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 145.60 232.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.50 145.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 145.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 145.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 145.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 145.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 145.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 145.60 67.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 282.5 145.60000000000002 m 349.5 145.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 145.60000000000002 m 420.5 145.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 145.60000000000002 m 491.5 145.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 145.60000000000002 m 562.5 145.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 282.5 145.60000000000002 m 349.5 145.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 282.5 130.60000000000002 m 349.5 130.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 145.60000000000002 m 420.5 145.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 130.60000000000002 m 420.5 130.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 145.60000000000002 m 491.5 145.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 130.60000000000002 m 491.5 130.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 145.60000000000002 m 562.5 145.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 130.60000000000002 m 562.5 130.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 282.5 130.60000000000002 m 349.5 130.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 282.5 116.60000000000002 m 349.5 116.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 282.5 114.60000000000002 m 349.5 114.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 130.60000000000002 m 420.5 130.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 116.60000000000002 m 420.5 116.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 114.60000000000002 m 420.5 114.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 130.60000000000002 m 491.5 130.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 116.60000000000002 m 491.5 116.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 114.60000000000002 m 491.5 114.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 130.60000000000002 m 562.5 130.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 116.60000000000002 m 562.5 116.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 114.60000000000002 m 562.5 114.60000000000002 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 165.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 305.50 175.28 Td (Three Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 320.50 165.28 Td (September 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.20 175.28 Td (Nine Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.50 165.28 Td (September 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 150.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 305.50 150.28 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 376.50 150.28 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.50 150.28 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.50 150.28 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 135.27 Td (Gain \(loss\) on interest rate swap, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.00 135.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.15 135.27 Td (3,913) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.00 135.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.15 135.27 Td (3,922) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.00 135.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 135.27 Td (12,311) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 135.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 135.27 Td (11,449) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 120.27 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.00 120.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.15 120.27 Td (3,913) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.00 120.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.15 120.27 Td (3,922) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.00 120.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 120.27 Td (12,311) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 120.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 120.27 Td (11,449) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 41 0 obj <> endobj 42 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (18) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (8.Distributions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 718.25 Td (W) Tj ET Q q 0 0 0 rg BT 77.04 718.25 Td (ith the authorization of its board of directors, the Company declared distributions for the period from January ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.36 718.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.36 718.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (through June ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.44 706.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.44 706.25 Td (. ) Tj ET Q q 0 0 0 rg BT 129.26 706.25 Td (These distributions were calculated based on stockholders of record each day during this period in an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 Td (amount equal to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 116.93 694.25 Td ($0.00073973) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.43 694.25 Td ( per share, per day and were paid on the first day of the month following the fiscal quarter in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (cash, or) Tj ET Q q 0 0 0 rg BT 80.70 682.25 Td (, with respect to distributions paid for the three months ended March 31, 2016, reinvested in stock for those ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (participating in the Company) Tj ET Q q 0 0 0 rg BT 169.70 670.25 Td (s dividend reinvestment plan. On May 31, 2016, the Company) Tj ET Q q 0 0 0 rg BT 421.88 670.25 Td (s board of directors voted to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (suspend indefinitely the Company) Tj ET Q q 0 0 0 rg BT 189.70 658.25 Td (s dividend reinvestment plan ef) Tj ET Q q 0 0 0 rg BT 315.04 658.25 Td (fective as of June30, 2016. ) Tj ET Q q 0 0 0 rg BT 426.68 658.25 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 476.02 658.25 Td (, all distributions for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (the three months ended June30, 2016 were paid in cash. In connection with the Plan of Liquidation, the Company determined ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (to cease paying regular quarterly distributions after the payment of the distributions for the six months ended June 30, 2016.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 610.25 Td (The table below outlines the Company) Tj ET Q q 0 0 0 rg BT 225.47 610.25 Td (s total distributions declared to stockholders andnoncontrolling interests for each of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.25 Td (the quarters during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.03 598.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.03 598.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.47 598.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.47 598.25 Td (, including the breakout between the distributions paid in cash and those reinvested pursuant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.25 Td (to the Company) Tj ET Q q 0 0 0 rg BT 116.66 586.25 Td (s dividend reinvestment plan \(in thousands\).) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 512.75 199.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 249.50 512.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 512.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.50 512.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.50 512.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 512.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 512.75 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 512.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 512.75 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 482.75 199.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 249.50 482.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 482.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.50 482.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.50 482.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 482.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 482.75 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 482.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 482.75 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 423.75 199.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 249.50 423.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 423.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.50 423.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.50 423.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 423.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 423.75 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 423.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 423.75 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 393.75 199.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 249.50 393.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 393.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.50 393.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.50 393.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 393.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 393.75 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 393.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 393.75 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 363.75 199.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 249.50 363.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 363.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.50 363.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.50 363.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 363.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 363.75 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 363.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 363.75 79.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 551.75 m 323.5 551.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 323.5 551.75 m 327.5 551.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 327.5 551.75 m 394.5 551.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 551.75 m 398.5 551.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 551.75 m 461.5 551.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 551.75 m 544.5 551.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 527.75 m 249.5 527.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 527.75 m 323.5 527.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 327.5 527.75 m 394.5 527.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 527.75 m 461.5 527.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 527.75 m 544.5 527.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 527.75 m 249.5 527.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 512.75 m 249.5 512.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 512.75 m 249.5 512.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 467.75 m 323.5 467.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 327.5 467.75 m 394.5 467.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 467.75 m 461.5 467.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 467.75 m 544.5 467.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 453.75 m 323.5 453.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 451.75 m 323.5 451.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327.5 453.75 m 394.5 453.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327.5 451.75 m 394.5 451.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 453.75 m 461.5 453.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 451.75 m 461.5 451.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 453.75 m 544.5 453.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 451.75 m 544.5 451.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 423.75 m 249.5 423.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 423.75 m 249.5 423.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 363.75 m 323.5 363.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 327.5 363.75 m 394.5 363.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 363.75 m 461.5 363.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 363.75 m 544.5 363.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 349.75 m 323.5 349.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 347.75 m 323.5 347.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327.5 349.75 m 394.5 349.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327.5 347.75 m 394.5 347.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 349.75 m 461.5 349.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 347.75 m 461.5 347.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 349.75 m 544.5 349.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 347.75 m 544.5 347.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 556.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 329.20 556.43 Td (Stockholders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 556.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.35 566.43 Td (Noncontrolling) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 485.95 556.43 Td (Interests) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 532.43 Td (Distributions for the Three Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 277.15 542.43 Td (Cash) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 259.90 532.43 Td (Distributions) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 332.40 542.43 Td (Distributions) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 337.15 532.43 Td (Reinvested) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 418.55 542.43 Td (Total) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 410.40 532.43 Td (Declared) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 532.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 473.25 532.43 Td (Total Declared) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 517.43 Td (2016 ) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 75.50 521.96 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 517.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.00 517.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.00 517.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 517.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.00 517.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 502.42 Td (September 30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 502.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.65 502.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.00 502.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.65 502.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.00 502.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 502.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.00 502.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 502.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 487.42 Td (June 30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.15 487.42 Td (14,920) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.65 487.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.15 487.42 Td (14,920) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 487.42 Td (74) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 472.42 Td (March 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.15 472.42 Td (9,626) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.15 472.42 Td (5,326) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.15 472.42 Td (14,952) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 472.42 Td (75) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 457.42 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 457.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.15 457.42 Td (24,546) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.00 457.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.15 457.42 Td (5,326) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.00 457.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.15 457.42 Td (29,872) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.00 457.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 457.42 Td (149) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 428.43 Td (2015 ) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 75.50 432.96 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 428.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.00 428.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.00 428.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.00 428.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 413.42 Td (December 31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 413.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.15 413.42 Td (9,717) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.00 413.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.15 413.42 Td (5,426) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.00 413.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.15 413.42 Td (15,143) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.00 413.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 413.42 Td (75) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 398.42 Td (September 30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.15 398.42 Td (9,731) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.15 398.42 Td (5,445) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.15 398.42 Td (15,176) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 398.42 Td (76) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 383.42 Td (June 30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.15 383.42 Td (9,645) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.15 383.42 Td (5,416) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.15 383.42 Td (15,061) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 383.42 Td (74) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 368.42 Td (March 31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.15 368.42 Td (9,507) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.15 368.42 Td (5,424) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.15 368.42 Td (14,931) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 368.42 Td (74) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 353.42 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 353.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.15 353.42 Td (38,600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.00 353.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.15 353.42 Td (21,711) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.00 353.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.15 353.42 Td (60,311) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.00 353.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 353.42 Td (299) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 325.25 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 325.25 Td (Excluded from this table are distributions declared with respect to the Participation Interest \(as discussed further in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 313.25 Td (Note 9 Related Party ) Tj ET Q q 0 0 0 rg BT 184.41 313.25 Td (T) Tj ET Q q 0 0 0 rg BT 190.17 313.25 Td (ransactions\). ) Tj ET Q q 0 0 0 rg BT 243.30 313.25 Td (The distributions declared with respect to the Participation Interest for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 301.25 Td (quarters ended June 30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.91 301.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.91 301.25 Td (, March 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.51 301.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.51 301.25 Td (, December 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.10 301.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.10 301.25 Td (, September 30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.36 301.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.36 301.25 Td (, June 30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.19 301.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.19 301.25 Td ( and March 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 289.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 106.00 289.25 Td ( were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.43 289.25 Td ($1.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.32 289.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.32 289.25 Td ($1.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.21 289.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.21 289.25 Td ($1.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.10 289.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.10 289.25 Td ($1.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.00 289.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 289.25 Td ($1.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.89 289.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.33 289.25 Td ($1.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.22 289.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 515.88 289.25 Td (.) Tj ET Q endstream endobj 43 0 obj <> endobj 44 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (19) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (9.Related Party T) Tj ET Q q 0 0 0 rg BT 126.56 742.25 Td (ransactions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 718.25 Td (The table below outlines fees incurred and expense reimbursements payable to Hines and the ) Tj ET Q q 0 0 0 rg BT 442.32 718.25 Td (Advisor for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.92 718.25 Td (three and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.22 706.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.04 706.25 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.31 706.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.74 706.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.74 706.25 Td ( and outstanding as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.01 706.25 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.27 706.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.71 706.25 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.29 706.25 Td ( \(in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 Td (thousands\).) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 618.75 158.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 208.50 618.75 4.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 618.75 49.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 618.75 4.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 618.75 49.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 618.75 4.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 618.75 49.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.50 618.75 4.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.50 618.75 49.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 618.75 4.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 618.75 69.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 618.75 4.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 618.75 65.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 554.75 158.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 208.50 554.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 554.75 49.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 554.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 554.75 49.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 554.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 554.75 49.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.50 554.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.50 554.75 49.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 554.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 554.75 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 554.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 554.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 524.75 158.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 208.50 524.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 524.75 49.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 524.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 524.75 49.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 524.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 524.75 49.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.50 524.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.50 524.75 49.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 524.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 524.75 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 524.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 524.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 494.75 158.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 208.50 494.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 494.75 49.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 494.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 494.75 49.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 494.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 494.75 49.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.50 494.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.50 494.75 49.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 494.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 494.75 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 494.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 494.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 454.75 158.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 208.50 454.75 4.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 454.75 49.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 454.75 4.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 454.75 49.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 454.75 4.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 454.75 49.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.50 454.75 4.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.50 454.75 49.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 454.75 4.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 454.75 69.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 454.75 4.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 454.75 65.00 -45.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 656.75 m 261.5 656.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 261.5 656.75 m 265.5 656.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 656.75 m 314.5 656.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 656.75 m 318.5 656.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 656.75 m 367.5 656.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 367.5 656.75 m 371.5 656.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 371.5 656.75 m 420.5 656.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 656.75 m 493.5 656.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 656.75 m 497.5 656.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 656.75 m 562.5 656.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 656.75 m 493.5 656.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 618.75 m 208.5 618.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 618.75 m 261.5 618.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 618.75 m 314.5 618.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 618.75 m 367.5 618.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 371.5 618.75 m 420.5 618.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 618.75 m 493.5 618.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 618.75 m 562.5 618.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 618.75 m 261.5 618.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 618.75 m 314.5 618.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 618.75 m 367.5 618.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 371.5 618.75 m 420.5 618.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 618.75 m 493.5 618.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 584.75 m 493.5 584.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 582.75 m 493.5 582.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 618.75 m 562.5 618.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 584.75 m 562.5 584.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 582.75 m 562.5 582.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 554.75 m 208.5 554.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 409.75 m 493.5 409.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 409.75 m 562.5 409.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 395.75 m 493.5 395.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 393.75 m 493.5 393.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 395.75 m 562.5 395.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 393.75 m 562.5 393.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 661.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.90 661.43 Td (Incurred) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.00 661.43 Td (Unpaid as of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 637.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 217.50 647.43 Td (Three Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 232.50 637.43 Td (September 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 326.20 647.43 Td (Nine Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.50 637.43 Td (September 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 428.00 637.43 Td (September 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 500.40 637.43 Td (December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 623.43 Td (Type and Recipient) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 226.50 623.43 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 279.50 623.43 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 332.50 623.43 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 385.50 623.43 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 448.50 623.43 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.50 623.43 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 608.42 Td (Participation Interest in the Operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 598.42 Td (Partnership HALP) Tj ET Q q 0 0 0 rg BT 134.29 598.42 Td ( ) Tj ET Q q 0 0 0 rg BT 136.24 598.42 Td (Associates ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 588.42 Td (Limited Partnership) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 132.71 592.95 Td ( \(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.00 588.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.15 588.42 Td (3,386) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.00 588.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.15 588.42 Td (7,652) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 588.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.15 588.42 Td (11,164) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.00 588.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.15 588.42 Td (17,358) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.00 588.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 588.42 Td (133,942) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 588.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 588.42 Td (126,637) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 559.43 Td (Due to Affiliates) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 258.00 559.43 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 311.00 559.43 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 364.00 559.43 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 417.00 559.43 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 490.00 559.43 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 559.00 559.43 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 544.42 Td (Acquisition Fee the ) Tj ET Q q 0 0 0 rg BT 140.77 544.42 Td (Advisor ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 175.49 548.95 Td (\(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.65 544.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.65 544.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.65 544.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 544.42 Td (580) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 544.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 544.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 529.42 Td (Asset Management Fee the Advisor) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.15 529.42 Td (3,156) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.15 529.42 Td (3,412) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.15 529.42 Td (9,942) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.15 529.42 Td (10,254) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 529.42 Td (1,022) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 529.42 Td (1,131) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 514.42 Td (Other the Advisor) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.15 514.42 Td (1,432) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.65 514.42 Td (871) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.15 514.42 Td (3,191) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.15 514.42 Td (2,615) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 514.42 Td (474) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 514.42 Td (633) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 499.42 Td (Property Management Fee Hines) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.65 499.42 Td (921) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.15 499.42 Td (1,239) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.15 499.42 Td (3,239) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.15 499.42 Td (3,784) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.30 499.47 Td (\(63) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 499.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 499.42 Td (99) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 484.42 Td (Leasing Fee Hines) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.65 484.42 Td (775) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.65 484.42 Td (258) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.15 484.42 Td (2,116) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.15 484.42 Td (2,564) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 484.42 Td (1,733) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 484.42 Td (2,240) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 469.42 Td (Tenant Construction Management) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 459.42 Td (Fees Hines) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.65 459.42 Td (157) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.65 459.42 Td (80) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 459.42 Td (212) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 459.42 Td (105) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 459.42 Td (9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 459.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 444.42 Td (Expense Reimbursements Hines) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 434.42 Td (\(with respect to management and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 424.42 Td (operation of the Companys) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 414.42 Td (properties\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.15 414.42 Td (1,725) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.15 414.42 Td (2,822) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.15 414.42 Td (7,286) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.15 414.42 Td (8,744) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 414.42 Td (263) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 414.42 Td (398) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 399.42 Td (Due to Affiliates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.00 399.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.00 399.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.00 399.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.00 399.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.00 399.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 399.42 Td (3,438) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 399.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 399.42 Td (4,501) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 371.25 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 371.25 Td (The Company recorded a liability related to the Participation Interest based on its estimated settlement value in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 359.25 Td (accompanying condensed consolidated balance sheets. ) Tj ET Q q 0 0 0 rg BT 309.35 359.25 Td (This liability is remeasured at fair value based on the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 347.25 Td (estimated per share NA) Tj ET Q q 0 0 0 rg BT 178.84 347.25 Td (V) Tj ET Q q 0 0 0 rg BT 185.88 347.25 Td ( of the Company) Tj ET Q q 0 0 0 rg BT 255.59 347.25 Td (s common stock most recently determined by the Company) Tj ET Q q 0 0 0 rg BT 496.10 347.25 Td (s board of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 335.25 Td (directors as of the date of each balance sheet plus any unpaid distributions. ) Tj ET Q q 0 0 0 rg BT 387.39 335.25 Td (The Participation Interest liability as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 323.25 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.26 323.25 Td ( is based on the Company) Tj ET Q q 0 0 0 rg BT 272.08 323.25 Td (s expectation to distribute approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.88 323.25 Td ($6.35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.38 323.25 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.15 323.25 Td ($6.65) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 323.25 Td ( per share to its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 311.25 Td (shareholders pursuant to the execution of the Plan of Liquidation, which the Company believes is the best estimate of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 299.25 Td (fair value.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 275.25 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 275.25 Td (In connection with the acquisition of 2851 Junction ) Tj ET Q q 0 0 0 rg BT 293.74 275.25 Td (A) Tj ET Q q 0 0 0 rg BT 300.22 275.25 Td (venue in May 2015, the Company was obligated to pay ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 263.25 Td (approximately $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.26 263.25 Td (0.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.15 263.25 Td ( of acquisition fees to the ) Tj ET Q q 0 0 0 rg BT 297.90 263.25 Td (Advisor) Tj ET Q q 0 0 0 rg BT 329.73 263.25 Td (, half of which was payable in cash and half of which was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 251.25 Td (payable as an increase to the Participation Interest. ) Tj ET Q q 0 0 0 rg BT 291.01 251.25 Td (The ) Tj ET Q q 0 0 0 rg BT 308.51 251.25 Td (Advisor and HALP) Tj ET Q q 0 0 0 rg BT 385.17 251.25 Td (, the holder of the Participation Interest, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 239.25 Td (respectively) Tj ET Q q 0 0 0 rg BT 133.66 239.25 Td (, agreed to waive $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.46 239.25 Td (0.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.35 239.25 Td ( of the cash acquisition fee and all of the $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.74 239.25 Td (0.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.63 239.25 Td ( acquisition fee payable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 227.25 Td (as an increase to the Participation Interest. In connection with the acquisition of Civica Of) Tj ET Q q 0 0 0 rg BT 445.99 227.25 Td (fice Commons in February ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 215.25 Td (2015, the Company was obligated to pay approximately $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.34 215.25 Td (2.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.23 215.25 Td ( of acquisition fees to the ) Tj ET Q q 0 0 0 rg BT 463.99 215.25 Td (Advisor) Tj ET Q q 0 0 0 rg BT 495.81 215.25 Td (, half of which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 203.25 Td (was payable in cash and half of which was payable as an increase to the Participation Interest. ) Tj ET Q q 0 0 0 rg BT 464.01 203.25 Td (The ) Tj ET Q q 0 0 0 rg BT 481.51 203.25 Td (Advisor and HALP) Tj ET Q q 0 0 0 rg BT 558.17 203.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 191.25 Td (the holder of the Participation Interest, respectively) Tj ET Q q 0 0 0 rg BT 290.56 191.25 Td (, agreed to waive $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.36 191.25 Td (0.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.25 191.25 Td ( of the cash acquisition fee and all of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 179.25 Td (the $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.72 179.25 Td (1.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.61 179.25 Td ( acquisition fee payable as an increase to the Participation Interest. ) Tj ET Q endstream endobj 45 0 obj <> endobj 46 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (20) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (10. Changes in ) Tj ET Q q 0 0 0 rg BT 114.09 742.25 Td (Assets and Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 718.25 Td (The ef) Tj ET Q q 0 0 0 rg BT 93.63 718.25 Td (fect of the changes in asset and liability accounts on cash flows from operating activities for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.79 718.25 Td (nine months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.33 718.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.26 706.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.70 706.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.70 706.25 Td ( is as follows \(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 654.75 354.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 654.75 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 654.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 654.75 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 624.75 354.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 624.75 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 624.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 624.75 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 594.75 354.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 594.75 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 594.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 594.75 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 564.75 354.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 564.75 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 564.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 564.75 77.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 654.75 m 481.5 654.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 654.75 m 562.5 654.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 549.75 m 481.5 549.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 549.75 m 562.5 549.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 535.75 m 481.5 535.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 533.75 m 481.5 533.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 535.75 m 562.5 535.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 533.75 m 562.5 533.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.50 674.43 Td (Nine Months Ended September 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 659.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 432.50 659.43 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 513.50 659.43 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 644.42 Td (Change in other assets ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 145.20 648.95 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.00 644.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 644.42 Td (864) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.00 644.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 644.42 Td (514) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 629.42 Td (Change in tenant and other receivables, net ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 227.93 633.95 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.80 629.47 Td (\(4,113) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.65 629.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 629.47 Td (\(3,909) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 629.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 614.42 Td (Change in deferred leasing costs, net ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 202.67 618.95 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.80 614.47 Td (\(38,224) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.65 614.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 614.47 Td (\(47,274) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 614.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 599.42 Td (Change in accounts payable and accrued expenses ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 256.53 603.95 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.80 599.47 Td (\(2,775) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.65 599.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 599.42 Td (13,605) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 584.42 Td (Change in participation interest liability) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 584.42 Td (7,305) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 584.42 Td (13,971) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 569.42 Td (Change in other liabilities ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 159.09 573.95 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.80 569.47 Td (\(1,759) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.65 569.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 569.47 Td (\(1,213) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 569.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 554.42 Td (Change in due to affiliates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.80 554.47 Td (\(1,060) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.65 554.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 554.47 Td (\(648) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 554.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 539.42 Td (Changes in assets and liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.00 539.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.80 539.47 Td (\(39,762) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.65 539.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.00 539.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 539.47 Td (\(24,954) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 539.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 511.25 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 511.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.44 511.25 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.71 511.25 Td (, these amounts were classified as held for sale.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 487.25 Td (1) Tj ET Q q 0 0 0 rg BT 54.45 487.25 Td (1. Supplemental Cash Flow Disclosures) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 463.25 Td (Supplemental cash flow disclosures for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.40 463.25 Td (nine months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.95 463.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.45 463.25 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.71 463.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 463.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.15 463.25 Td ( are as follows \(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 396.75 354.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 396.75 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 396.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 396.75 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 366.75 354.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 366.75 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 366.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 366.75 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 336.75 354.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 336.75 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 336.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 336.75 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 306.75 354.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 306.75 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 306.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 306.75 77.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 411.75 m 481.5 411.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 411.75 m 562.5 411.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.50 431.43 Td (Nine Months Ended September 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 416.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 432.50 416.43 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 513.50 416.43 Td (2015) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 53.00 401.43 Td (Supplemental Disclosure of Cash Flow Information) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.00 401.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.00 401.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 386.42 Td (Cash paid for interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.00 386.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.15 386.42 Td (21,074) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.00 386.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 386.42 Td (23,224) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 371.42 Td (Cash paid for income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.00 371.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 371.42 Td (217) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.00 371.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 371.42 Td (327) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 53.00 356.43 Td (Supplemental Schedule of Non-Cash Activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.00 356.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 356.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 341.42 Td (Distributions declared and unpaid) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.00 341.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 341.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.00 341.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 341.42 Td (15,251) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 326.42 Td (Distributions receivable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.00 326.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 326.42 Td (1,382) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.00 326.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 326.42 Td (2,275) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 311.42 Td (Distributions reinvested) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.00 311.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.15 311.42 Td (10,752) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.00 311.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 311.42 Td (16,413) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 296.42 Td (Shares tendered for redemption) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.00 296.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 296.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.00 296.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 296.42 Td (7,484) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 281.42 Td (Noncash net assets \(liabilities\) acquired upon acquisition of property) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.00 281.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 281.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.00 281.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 281.47 Td (\(6,734) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 281.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 253.25 Td (12.Commitments and Contingencies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 229.25 Td (The Company is subject to various legal proceedings and claims that arise in the ordinary course of business and from time ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 217.25 Td (to time, the Company is also subject to other types of litigation. ) Tj ET Q q 0 0 0 rg BT 306.08 217.25 Td (All of these matters are generally covered by insurance. ) Tj ET Q q 0 0 0 rg BT 531.36 217.25 Td (While ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 205.25 Td (the resolution of these matters cannot be predicted with certainty) Tj ET Q q 0 0 0 rg BT 308.43 205.25 Td (, management believes the final outcome of such matters will ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 193.25 Td (not have a material adverse ef) Tj ET Q q 0 0 0 rg BT 169.48 193.25 Td (fect on the Company) Tj ET Q q 0 0 0 rg BT 255.84 193.25 Td (s condensed consolidated financial statements. See Part II, Item 1. Legal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 181.25 Td (Proceedings for a description of a purported derivative and class action lawsuit filed against the Company) Tj ET Q q 0 0 0 rg BT 477.28 181.25 Td (, the ) Tj ET Q q 0 0 0 rg BT 496.44 181.25 Td (Advisor and its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 169.25 Td (owners, certain af) Tj ET Q q 0 0 0 rg BT 121.17 169.25 Td (filiated entities and current and former members of the Company) Tj ET Q q 0 0 0 rg BT 384.14 169.25 Td (s board of directors. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 145.25 Td (13.Fair V) Tj ET Q q 0 0 0 rg BT 93.90 145.25 Td (alue Disclosures) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 59.00 121.25 Td (Assets and Liabilities Measur) Tj ET Q q 0 0 0 rg BT 184.66 121.25 Td (ed at Fair) Tj ET Q q 0 0 0 rg BT 226.13 121.25 Td ( ) Tj ET Q q 0 0 0 rg BT 228.45 121.25 Td (V) Tj ET Q q 0 0 0 rg BT 234.76 121.25 Td (alue on a Recurring Basis) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 59.00 97.25 Td (Derivative Instruments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 73.25 Td (The Company records liabilities related to the fair values of its interest rate swap contracts. ) Tj ET Q q 0 0 0 rg BT 434.36 73.25 Td (The valuation of these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 61.25 Td (instruments is determined based on assumptions that management believes market participants would use in pricing, using ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 49.25 Td (widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each ) Tj ET Q endstream endobj 47 0 obj <> endobj 48 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (derivative.) Tj ET Q q 0 0 0 rg BT 94.80 742.10 Td (This analysis reflects the contractual terms of the derivatives, including the period to maturity) Tj ET Q q 0 0 0 rg BT 469.04 742.10 Td (, and uses observable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (market-based inputs, including interest rate curves and implied volatilities.) Tj ET Q q 0 0 0 rg BT 353.63 730.10 Td (The fair values of the Company) Tj ET Q q 0 0 0 rg BT 483.31 730.10 Td (s interest rate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (contracts have been determined using the market standard methodology of netting the discounted future fixed cash receipts \(or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (payments\) and the discounted expected variable cash payments \(or receipts\).) Tj ET Q q 0 0 0 rg BT 361.37 706.10 Td (The variable cash payments \(or receipts\) are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (based on an expectation of future interest rates \(forward curves\) derived from observable market interest rate curves. ) Tj ET Q q 0 0 0 rg BT 519.06 694.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (Company did not have any interest rate swap contracts in ef) Tj ET Q q 0 0 0 rg BT 289.19 682.10 Td (fect as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.33 682.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.60 682.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 658.10 Td (Although the Company has determined the majority of the inputs used to value its derivatives fall within Level 2 of the fair ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (value hierarchy) Tj ET Q q 0 0 0 rg BT 111.26 646.10 Td (, the credit valuation adjustments associated with its derivatives utilize Level 3 inputs, such as estimates of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (current credit spreads to evaluate the likelihood of default by the Company and its counterparty) Tj ET Q q 0 0 0 rg BT 430.89 634.10 Td (, Deutsche Bank. In adjusting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (the fair values of its derivative contracts for the ef) Tj ET Q q 0 0 0 rg BT 249.46 622.10 Td (fect of nonperformance risk, the Company has considered the impact of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (netting and any applicable credit enhancements, such as collateral postings, thresholds and guarantees. However) Tj ET Q q 0 0 0 rg BT 498.89 610.10 Td (, as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 598.10 Td (, the Company has assessed the significance of the impact of the credit valuation adjustments on the overall ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (valuation of its derivative positions and has determined that the credit valuation adjustments are not significant to the overall ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (valuations of its derivatives. ) Tj ET Q q 0 0 0 rg BT 164.70 574.10 Td (As a result, the Company has determined its derivative valuations are classified in Level 2 of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (fair value hierarchy) Tj ET Q q 0 0 0 rg BT 127.64 562.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 550.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 538.10 Td (The following fair value hierarchy table sets forth the Company) Tj ET Q q 0 0 0 rg BT 325.97 538.10 Td (s interest rate swaps which are measured at fair value on a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (recurring basis, which equals book value, by level within the fair value hierarchy as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.94 526.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.52 526.10 Td ( \(in thousands\).) Tj ET Q q 0 0 0 rg BT 543.28 526.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (Company) Tj ET Q q 0 0 0 rg BT 91.67 514.10 Td (s derivative financial instruments are recorded in interest rate swap contracts in the accompanying condensed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (consolidated balance sheets.) Tj ET Q q 0 0 0 rg BT 165.33 502.10 Td (The Company has not designated any of its derivative instruments as hedging instruments for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (accounting purposes. See Note 7 Derivative Instruments for information regarding derivative financial instruments as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.26 478.10 Td (.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 406.60 131.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 181.50 406.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 185.50 406.60 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 406.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 406.60 112.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 372.50 406.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 406.60 91.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.50 406.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 406.60 91.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 440.6 m 372.5 440.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 372.5 440.6 m 376.5 440.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 376.5 440.6 m 467.5 440.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 467.5 440.6 m 471.5 440.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 440.6 m 562.5 440.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 406.6 m 181.5 406.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 185.5 406.6 m 256.5 406.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 406.6 m 372.5 406.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 376.5 406.6 m 467.5 406.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 406.6 m 562.5 406.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 445.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.00 445.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.40 445.28 Td (Basis of Fair Value Measurements) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 411.28 Td (Description) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 198.20 411.28 Td (Fair Value) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 265.30 431.28 Td (Quoted Prices In Active) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 270.25 421.28 Td (Markets for Identical) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 284.05 411.28 Td (Items \(Level 1\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 384.50 431.28 Td (Significant Other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 381.90 421.28 Td (Observable Inputs) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 402.75 411.28 Td (\(Level 2\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 493.40 431.28 Td (Significant) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.05 421.28 Td (Unobservable) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.60 411.28 Td (Inputs \(Level 3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 396.27 Td (December 31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.00 396.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.15 396.27 Td (17,448) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.00 396.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.65 396.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.00 396.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.15 396.27 Td (17,448) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.00 396.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 396.27 Td () Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 59.00 368.10 Td (Financial Instruments Fair) Tj ET Q q 0 0 0 rg BT 174.38 368.10 Td ( ) Tj ET Q q 0 0 0 rg BT 176.70 368.10 Td (V) Tj ET Q q 0 0 0 rg BT 183.00 368.10 Td (alue Disclosur) Tj ET Q q 0 0 0 rg BT 243.10 368.10 Td (es) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 59.00 344.10 Td (Other Financial Instruments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 320.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.44 320.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.71 320.10 Td (, the Company did ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.09 320.10 Td (no) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.09 320.10 Td (t have any outstanding notes payable. ) Tj ET Q q 0 0 0 rg BT 411.00 320.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.44 320.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.03 320.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 308.10 Td (management estimated that the fair value of notes payable, which had a carrying value \(excluding any unamortized discount or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 296.10 Td (premium and unamortized deferred financing fees\) of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.85 296.10 Td ($853.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.74 296.10 Td (, was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.79 296.10 Td ($866.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.69 296.10 Td (. ) Tj ET Q q 0 0 0 rg BT 412.50 296.10 Td (The discount rates used approximate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 284.10 Td (current lending rates for loans or groups of loans with similar maturities and credit quality) Tj ET Q q 0 0 0 rg BT 409.81 284.10 Td (, assumes the debt is outstanding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 272.10 Td (through maturity and considers the debt) Tj ET Q q 0 0 0 rg BT 211.91 272.10 Td (s collateral \(if applicable\). Management has utilized market information as available ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 260.10 Td (or present value techniques to estimate the amounts required to be disclosed. ) Tj ET Q q 0 0 0 rg BT 358.90 260.10 Td (The Company has determined the majority of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 248.10 Td (inputs used to value its notes payable fall within Level 2 of the fair value hierarchy) Tj ET Q q 0 0 0 rg BT 381.19 248.10 Td (, however the credit quality adjustments ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 236.10 Td (associated with its fair value of notes payable utilize Level 3 inputs. However) Tj ET Q q 0 0 0 rg BT 360.34 236.10 Td (, as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.00 236.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.58 236.10 Td (, the Company has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 224.10 Td (assessed the significance of the impact of the credit quality adjustments on the overall valuations of its fair market value of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 212.10 Td (notes payable and has determined that they are not significant.) Tj ET Q q 0 0 0 rg BT 303.81 212.10 Td (As a result, the Company has determined these financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 200.10 Td (instruments utilize Level 2 inputs. Since such amounts are estimates that are based on limited available market information for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 188.10 Td (similar transactions, there can be no assurance that the disclosed values could be realized.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 164.10 Td (Other financial instruments not measured at fair value on a recurring basis include cash and cash equivalents, restricted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 152.10 Td (cash, distributions receivable, tenant and other receivables, accounts payable and accrued expenses, other liabilities, due to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 140.10 Td (af) Tj ET Q q 0 0 0 rg BT 57.59 140.10 Td (filiates and distributions payable. ) Tj ET Q q 0 0 0 rg BT 195.16 140.10 Td (The carrying value of these items reasonably approximates their fair value based on their ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 128.10 Td (highly-liquid nature and/or short-term maturities.Due to the short-term nature of these instruments, Level 1 and Level 2 inputs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 116.10 Td (are utilized to estimate the fair value of these financial instruments.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 59.00 92.10 Td (Assets and Liabilities Measur) Tj ET Q q 0 0 0 rg BT 184.66 92.10 Td (ed at Fair) Tj ET Q q 0 0 0 rg BT 226.13 92.10 Td ( ) Tj ET Q q 0 0 0 rg BT 228.45 92.10 Td (V) Tj ET Q q 0 0 0 rg BT 234.76 92.10 Td (alue on a Nonr) Tj ET Q q 0 0 0 rg BT 297.64 92.10 Td (ecurring Basis) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 68.10 Td (Certain long-lived assets are measured at fair value on a non-recurring basis. ) Tj ET Q q 0 0 0 rg BT 381.87 68.10 Td (These assets are not measured at fair value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 56.10 Td (on an ongoing basis, but are subject to fair value adjustments \(i.e., impairments\) in certain circumstances. ) Tj ET Q q 0 0 0 rg BT 476.92 56.10 Td (The fair value ) Tj ET Q endstream endobj 49 0 obj <> endobj 50 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (methodologies used to measure long-lived assets are described in Note 2 Summary of Significant ) Tj ET Q q 0 0 0 rg BT 453.53 742.10 Td (Accounting Policies ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (Impairment of Investment Property) Tj ET Q q 0 0 0 rg BT 190.70 730.10 Td (. ) Tj ET Q q 0 0 0 rg BT 198.02 730.10 Td (The inputs associated with the valuation of long-lived assets are generally included in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (Level 2 or Level 3 of the fair value hierarchy) Tj ET Q q 0 0 0 rg BT 229.54 718.10 Td (, as discussed below) Tj ET Q q 0 0 0 rg BT 309.99 718.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 706.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 694.10 Td (Impairment of Investment Pr) Tj ET Q q 0 0 0 rg BT 182.88 694.10 Td (operty) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 670.10 Td (Investment properties are reviewed for impairment at each reporting period if events or changes in circumstances indicate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (that the carrying amount may not be recoverable. For the nine months ended September 30, 2016, the Company determined ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 646.10 Td (four) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.16 646.10 Td ( of its directly-owned investments located in Melville, New ) Tj ET Q q 0 0 0 rg BT 324.28 646.10 Td (Y) Tj ET Q q 0 0 0 rg BT 330.50 646.10 Td (ork, Dallas, ) Tj ET Q q 0 0 0 rg BT 379.20 646.10 Td (T) Tj ET Q q 0 0 0 rg BT 384.61 646.10 Td (exas, Houston, ) Tj ET Q q 0 0 0 rg BT 446.09 646.10 Td (T) Tj ET Q q 0 0 0 rg BT 451.50 646.10 Td (exas and Bellevue, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 634.10 Td (ashington, were impaired based on such long-lived assets having carrying values that exceeded their fair values less costs to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (sell based on the purchase and sale agreements and potential bids received during the nine month period. ) Tj ET Q q 0 0 0 rg BT 470.98 622.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.42 622.10 Td (September30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 610.10 Td (, all of these directly-owned investments were classified as held for sale.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 586.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 117.90 586.10 Td (, for the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.86 586.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.45 586.10 Td (, the Company determined that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.53 586.10 Td (two) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.53 586.10 Td ( of its directly-owned investments ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (located in Dallas, ) Tj ET Q q 0 0 0 rg BT 122.02 574.10 Td (T) Tj ET Q q 0 0 0 rg BT 127.43 574.10 Td (exas and Melville, New ) Tj ET Q q 0 0 0 rg BT 224.53 574.10 Td (Y) Tj ET Q q 0 0 0 rg BT 230.75 574.10 Td (ork were impaired since the projected undiscounted cash flows for each of these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (properties was less than each of their carrying values.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 538.10 Td (These changes in assumptions resulted in the net book value of the assets exceeding the projected undiscounted cash flows ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (for these investments. ) Tj ET Q q 0 0 0 rg BT 139.43 526.10 Td (As a result, these assets were written down to fair value. ) Tj ET Q q 0 0 0 rg BT 366.68 526.10 Td (The following table summarizes activity for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (Company) Tj ET Q q 0 0 0 rg BT 91.67 514.10 Td (s assets measured at fair value, on a non-recurring basis, as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.03 514.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.29 514.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.73 514.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.31 514.10 Td ( \(in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (thousands\):) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 401.60 87.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 137.50 401.60 68.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 205.50 401.60 54.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 259.50 401.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 263.50 401.60 71.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.50 401.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.50 401.60 62.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.50 401.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 401.60 73.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 401.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 401.60 67.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 548.50 401.60 14.00 -25.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 137.5 465.6 m 205.5 465.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 465.6 m 259.5 465.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 259.5 465.6 m 263.5 465.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 263.5 465.6 m 334.5 465.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 334.5 465.6 m 338.5 465.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 338.5 465.6 m 400.5 465.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 400.5 465.6 m 404.5 465.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 465.6 m 477.5 465.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 401.6 m 137.5 401.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 137.5 401.6 m 205.5 401.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 401.6 m 259.5 401.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 263.5 401.6 m 334.5 401.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 338.5 401.6 m 400.5 401.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 401.6 m 477.5 401.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 401.6 m 548.5 401.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 401.6 m 137.5 401.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 338.5 401.6 m 400.5 401.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 268.40 470.28 Td (Basis of Fair Value Measurements) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 406.28 Td (As of) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 146.25 406.28 Td (Description) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 209.70 416.28 Td (Fair Value) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 213.50 406.28 Td (of Assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 268.35 446.28 Td (Quoted Prices) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 279.15 436.28 Td (In ) Tj ET Q q 0 0 0 rg BT 290.55 436.28 Td (Active) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 272.90 426.28 Td (Markets for) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 266.40 416.28 Td (Identical Items) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 279.75 406.28 Td (\(Level 1\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 345.90 446.28 Td (Significant) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 356.30 436.28 Td (Other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 344.55 426.28 Td (Observable) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 355.10 416.28 Td (Inputs) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.25 406.28 Td (\(Level 2\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 417.40 436.28 Td (Significant) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 411.05 426.28 Td (Unobservable) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 426.60 416.28 Td (Inputs) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.75 406.28 Td (\(Level 3\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.65 416.28 Td (Impairment) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.75 406.28 Td (Loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 381.27 Td (September 30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.75 391.27 Td (Investment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.00 381.27 Td (properties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.00 381.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.15 381.27 Td (265,200) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.00 381.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.65 381.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.00 381.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 381.27 Td (265,200) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.00 381.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.65 381.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.00 381.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.15 381.27 Td (27,488) Tj ET Q BT /F1 6.50 Tf ET q 0 0 0 rg BT 551.00 386.43 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 356.27 Td (December 31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.75 366.27 Td (Investment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.00 356.27 Td (properties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.00 356.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.15 356.27 Td (306,900) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.00 356.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.65 356.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.00 356.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.65 356.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.00 356.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.15 356.27 Td (306,900) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.00 356.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.15 356.27 Td (19,663) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 328.10 Td (\(1\) Excludes impairment loss on disposed assets.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 316.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 304.10 Td (During the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.63 304.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.21 304.10 Td (, the Company) Tj ET Q q 0 0 0 rg BT 299.60 304.10 Td (s estimated fair value of investment properties in Dallas, ) Tj ET Q q 0 0 0 rg BT 527.68 304.10 Td (T) Tj ET Q q 0 0 0 rg BT 533.09 304.10 Td (exas ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 292.10 Td (and Melville, New ) Tj ET Q q 0 0 0 rg BT 126.83 292.10 Td (Y) Tj ET Q q 0 0 0 rg BT 133.05 292.10 Td (ork was based on a comparison of recent market activity and discounted cash flow models, which include ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 280.10 Td (estimates of property-specific inflows and outflows over a specific holding period.Significant unobservable quantitative inputs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 268.10 Td (used in determining the fair value of each investment property for the period ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.88 268.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.47 268.10 Td ( include: \(1\) a discount ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 256.10 Td (rate ranging from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.47 256.10 Td (7.0%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.30 256.10 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.08 256.10 Td (8.3%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.91 256.10 Td (; \(2\) a capitalization rate ranging from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.12 256.10 Td (4.7%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.95 256.10 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.73 256.10 Td (9.7%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.56 256.10 Td (; \(3\) stabilized occupancy rates ranging ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 244.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.94 244.10 Td (93%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.27 244.10 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.05 244.10 Td (94%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 121.38 244.10 Td (; and \(4\) current market rental rates ranging from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.46 244.10 Td ($21.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.96 244.10 Td ( per square foot to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.21 244.10 Td ($30.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.71 244.10 Td ( per square foot.) Tj ET Q q 0 0 0 rg BT 518.01 244.10 Td (These ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 232.10 Td (inputs are based on the location, type and nature of each property) Tj ET Q q 0 0 0 rg BT 310.37 232.10 Td (, current and anticipated market conditions, and management) Tj ET Q q 0 0 0 rg BT 557.22 232.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 220.10 Td (knowledge and expertise in real estate.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 196.10 Td (14.Reportable Segments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 172.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 127.71 172.10 Td (s investments in real estate are geographically diversified and management evaluates the operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 160.10 Td (performance of each at an individual property level. ) Tj ET Q q 0 0 0 rg BT 260.00 160.10 Td (The Company has determined it has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.64 160.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.62 160.10 Td ( reportable segments: \(1\) of) Tj ET Q q 0 0 0 rg BT 536.96 160.10 Td (fice ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 148.10 Td (properties, \(2\) an industrial property and \(3\) retail properties. ) Tj ET Q q 0 0 0 rg BT 296.31 148.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.75 148.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.02 148.10 Td (, the of) Tj ET Q q 0 0 0 rg BT 428.88 148.10 Td (fice properties segment consisted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 136.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.83 136.10 Td (9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.83 136.10 Td ( of) Tj ET Q q 0 0 0 rg BT 76.48 136.10 Td (fice properties that the Company owned directly as well as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.63 136.10 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.63 136.10 Td ( of) Tj ET Q q 0 0 0 rg BT 329.28 136.10 Td (fice properties that were owned indirectly through the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 124.10 Td (Company) Tj ET Q q 0 0 0 rg BT 91.67 124.10 Td (s investment in the Core Fund. ) Tj ET Q q 0 0 0 rg BT 216.75 124.10 Td (The retail segment consisted of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.21 124.10 Td (one) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.65 124.10 Td ( grocery-anchored shopping center) Tj ET Q q 0 0 0 rg BT 497.21 124.10 Td (. ) Tj ET Q q 0 0 0 rg BT 502.03 124.10 Td (The industrial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 112.10 Td (property segment consisted of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.75 112.10 Td (one) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.19 112.10 Td ( industrial property located in Dallas, ) Tj ET Q q 0 0 0 rg BT 338.35 112.10 Td (T) Tj ET Q q 0 0 0 rg BT 343.76 112.10 Td (exas, which was sold in ) Tj ET Q q 0 0 0 rg BT 440.42 112.10 Td (April 2015.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 88.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 127.71 88.10 Td (s indirect investments are accounted for using the equity method of accounting. ) Tj ET Q q 0 0 0 rg BT 447.35 88.10 Td (As such, the activities of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 76.10 Td (these investments are reflected in investmentsin unconsolidated entities in the condensed consolidated balance sheets and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 64.10 Td (equity in earnings \(losses\) of unconsolidated entities, net in the condensed consolidated statements of operations. ) Tj ET Q endstream endobj 51 0 obj <> endobj 52 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 742.10 Td (The tables below provide additional information related to each of the Company) Tj ET Q q 0 0 0 rg BT 392.07 742.10 Td (s segments \(in thousands\) and a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (reconciliation to the Company) Tj ET Q q 0 0 0 rg BT 174.14 730.10 Td (s net income or loss, as applicable. Corporate-Level ) Tj ET Q q 0 0 0 rg BT 387.95 730.10 Td (Accounts includes amounts incurred by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (the corporate-level entities which are not allocated to any of the reportable segments.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 641.60 236.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 641.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 641.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 641.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 641.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 641.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 641.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 641.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 611.60 236.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 611.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 611.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 611.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 611.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 611.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 611.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 611.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 581.60 236.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 581.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 581.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 581.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 581.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 581.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 581.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 581.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 551.60 236.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 551.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 551.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 551.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 551.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 551.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 551.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 551.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 521.60 236.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 521.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 521.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 521.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 521.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 521.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 521.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 521.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 482.60 236.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 482.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 482.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 482.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 482.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 482.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 482.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 482.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 452.60 236.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 452.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 452.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 452.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 452.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 452.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 452.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 452.60 66.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 656.6 m 352.5 656.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 656.6 m 422.5 656.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 656.6 m 492.5 656.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 656.6 m 562.5 656.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 596.6 m 352.5 596.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 596.6 m 422.5 596.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 596.6 m 492.5 596.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 596.6 m 562.5 596.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 582.6 m 352.5 582.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 580.6 m 352.5 580.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 582.6 m 422.5 582.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 580.6 m 422.5 580.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 582.6 m 492.5 582.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 580.6 m 492.5 580.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 582.6 m 562.5 582.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 580.6 m 562.5 580.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 506.6 m 352.5 506.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 506.6 m 422.5 506.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 506.6 m 492.5 506.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 506.6 m 562.5 506.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 483.6 m 352.5 483.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 481.6 m 352.5 481.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 483.6 m 422.5 483.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 481.6 m 422.5 481.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 483.6 m 492.5 483.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 481.6 m 492.5 481.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 483.6 m 562.5 483.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 481.6 m 562.5 481.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 437.6 m 352.5 437.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 437.6 m 422.5 437.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 414.6 m 352.5 414.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 412.6 m 352.5 412.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 414.6 m 422.5 414.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 412.6 m 422.5 412.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 437.6 m 492.5 437.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 414.6 m 492.5 414.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 412.6 m 492.5 412.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 437.6 m 562.5 437.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 414.6 m 562.5 414.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 412.6 m 562.5 412.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 676.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 308.50 686.28 Td (Three Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 323.50 676.28 Td (September 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 451.20 686.28 Td (Nine Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 463.50 676.28 Td (September 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 661.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 309.00 661.28 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 379.00 661.28 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 449.00 661.28 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.00 661.28 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 646.28 Td (Total revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.00 646.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 646.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.00 646.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 646.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 631.27 Td (Office properties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.00 631.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.15 631.27 Td (39,572) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 631.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.15 631.27 Td (50,534) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.00 631.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 631.27 Td (132,568) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 631.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 631.27 Td (150,233) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 616.27 Td (Industrial property) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 616.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 616.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 616.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 616.27 Td (936) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 601.27 Td ( Retail properties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.15 601.27 Td (2,547) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.15 601.27 Td (4,671) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 601.27 Td (11,927) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 601.27 Td (13,576) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 586.28 Td (Total revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.00 586.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.15 586.27 Td (42,119) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 586.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.15 586.27 Td (55,205) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.00 586.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 586.27 Td (144,495) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 586.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 586.27 Td (164,745) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 556.28 Td (Net pr) Tj ET Q q 0 0 0 rg BT 80.31 556.28 Td (operty r) Tj ET Q q 0 0 0 rg BT 114.84 556.28 Td (evenues in excess of expenses) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 238.16 560.81 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.00 556.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 556.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.00 556.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 556.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 541.27 Td (Office properties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.00 541.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.15 541.27 Td (26,076) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 541.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.15 541.27 Td (27,942) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.00 541.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 541.27 Td (75,874) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 541.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 541.27 Td (82,087) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 526.27 Td (Industrial property) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 526.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 526.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.30 526.32 Td (\(32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 526.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 526.27 Td (487) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 511.27 Td ( Retail properties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.15 511.27 Td (1,748) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.15 511.27 Td (3,281) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 511.27 Td (7,835) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 511.27 Td (9,576) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 497.28 Td (Total segment net property revenues in excess of) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 487.28 Td (expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.00 487.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.15 487.27 Td (27,824) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 487.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.15 487.27 Td (31,223) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.00 487.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 487.27 Td (83,677) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 487.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 487.27 Td (92,150) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 457.28 Td (Equity in earnings \(losses\) of unconsolidated entities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.00 457.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 457.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.00 457.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 457.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 442.27 Td (Equity in earnings \(losses\) of office properties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.00 442.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.80 442.32 Td (\(7,874) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 442.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 442.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.80 442.32 Td (\(5,297) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.65 442.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.00 442.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.30 442.32 Td (\(830) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 442.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 442.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 442.27 Td (27,703) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 428.28 Td (Total equity in earnings \(losses\) of unconsolidated) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 418.28 Td (entities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.00 418.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.80 418.32 Td (\(7,874) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 418.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 418.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.80 418.32 Td (\(5,297) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.65 418.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.00 418.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.30 418.32 Td (\(830) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 418.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 418.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 418.27 Td (27,703) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 390.10 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 390.10 Td (Revenues less property operating expenses, real property taxes and property management fees.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 353.60 319.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 369.50 353.60 98.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.50 353.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 353.60 91.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 323.60 319.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 369.50 323.60 98.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.50 323.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 323.60 91.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 293.60 319.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 369.50 293.60 98.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.50 293.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 293.60 91.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 369.5 353.6 m 467.5 353.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 353.6 m 562.5 353.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 369.5 353.6 m 467.5 353.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 353.6 m 562.5 353.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 369.5 278.6 m 467.5 278.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 278.6 m 562.5 278.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 369.5 264.6 m 467.5 264.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 369.5 262.6 m 467.5 262.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 264.6 m 562.5 264.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 262.6 m 562.5 262.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 358.28 Td (Total assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 376.25 358.28 Td (September 30, 2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.15 358.28 Td (December 31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 343.27 Td (Office properties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.00 343.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.65 343.27 Td (1,203,796) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.00 343.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 343.27 Td (1,853,435) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 328.27 Td (Retail properties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.15 328.27 Td (54,012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 328.27 Td (185,850) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 313.27 Td (Investment in unconsolidated entities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 298.27 Td (Office properties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.15 298.27 Td (77,451) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 298.27 Td (100,455) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 283.27 Td (Corporate-level accounts ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 161.73 287.80 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.15 283.27 Td (83,572) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 283.27 Td (43,991) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 268.28 Td (Total assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.00 268.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.65 268.27 Td (1,418,831) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.00 268.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 268.27 Td (2,183,731) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 564.00 264.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 240.10 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 240.10 Td (This amount primarily consists of cash equivalents at the corporate level, including proceeds from the sale of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 228.10 Td (Company) Tj ET Q q 0 0 0 rg BT 127.67 228.10 Td (s directly and indirectly-owned investments and distributions receivable from the Company) Tj ET Q q 0 0 0 rg BT 496.46 228.10 Td (s investments in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 216.10 Td (unconsolidated entities. ) Tj ET Q endstream endobj 53 0 obj <> endobj 54 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (24) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 695.50 236.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 695.50 66.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 695.50 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 695.50 66.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 695.50 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 695.50 66.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 695.50 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 695.50 66.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 655.50 236.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 655.50 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 655.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 655.50 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 655.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 655.50 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 655.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 655.50 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 625.50 236.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 625.50 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 625.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 625.50 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 625.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 625.50 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 625.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 625.50 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 595.50 236.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 595.50 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 595.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 595.50 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 595.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 595.50 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 595.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 595.50 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 565.50 236.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 565.50 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 565.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 565.50 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 565.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 565.50 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 565.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 565.50 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 535.50 236.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 535.50 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 535.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 535.50 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 535.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 535.50 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 535.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 535.50 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 505.50 236.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 505.50 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 505.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 505.50 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 505.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 505.50 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 505.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 505.50 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 475.50 236.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 475.50 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 475.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 475.50 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 475.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 475.50 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 475.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 475.50 66.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 709.5 m 352.5 709.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 709.5 m 422.5 709.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 709.5 m 492.5 709.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 709.5 m 562.5 709.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 460.5 m 352.5 460.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 460.5 m 422.5 460.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 460.5 m 492.5 460.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 460.5 m 562.5 460.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 446.5 m 352.5 446.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 444.5 m 352.5 444.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 446.5 m 422.5 446.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 444.5 m 422.5 444.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 446.5 m 492.5 446.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 444.5 m 492.5 444.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 446.5 m 562.5 446.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 444.5 m 562.5 444.5 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 729.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 308.50 739.18 Td (Three Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 323.50 729.18 Td (September 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 451.20 739.18 Td (Nine Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 463.50 729.18 Td (September 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 714.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 309.00 714.18 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 379.00 714.18 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 449.00 714.18 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.00 714.18 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 700.18 Td (Reconciliation to net income \(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 685.17 Td (Total segment net property revenues in excess of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 675.17 Td (expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.00 675.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.15 675.17 Td (27,824) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 675.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.15 675.17 Td (31,223) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.00 675.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 675.17 Td (83,677) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 675.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 675.17 Td (92,150) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 660.17 Td (Depreciation and amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 660.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.80 660.22 Td (\(21,491) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.65 660.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.80 660.22 Td (\(38,190) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 660.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 660.22 Td (\(66,782) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 660.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 645.17 Td (Acquisition related expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 645.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.30 645.22 Td (\(39) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.65 645.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 645.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 645.22 Td (\(639) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 645.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 630.17 Td (Asset management and acquisition fees) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.80 630.22 Td (\(6,542) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 630.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.80 630.22 Td (\(11,064) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.65 630.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.80 630.22 Td (\(21,106) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 630.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 630.22 Td (\(28,192) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 630.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 615.17 Td (General and administrative) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.80 615.22 Td (\(2,101) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 615.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.80 615.22 Td (\(1,648) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.65 615.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.80 615.22 Td (\(5,346) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 615.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 615.22 Td (\(5,078) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 615.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 600.17 Td (Transaction expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.30 600.22 Td (\(928) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 600.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 600.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.80 600.22 Td (\(4,391) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 600.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 600.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 585.17 Td (Impairment losses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.80 585.22 Td (\(6,909) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 585.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.80 585.22 Td (\(16,033) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.65 585.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.80 585.22 Td (\(30,372) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 585.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 585.22 Td (\(16,033) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 585.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 570.17 Td (Gain \(loss\) on derivative instruments, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.15 570.17 Td (3,913) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.15 570.17 Td (3,922) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 570.17 Td (12,311) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 570.17 Td (11,449) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 555.17 Td (Gain \(loss\) on settlement of debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.30 555.22 Td (\(380) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 555.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 555.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.30 555.22 Td (\(978) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 555.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 555.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 540.17 Td (Equity in earnings \(losses\) of unconsolidated entities, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.80 540.22 Td (\(7,874) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 540.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.80 540.22 Td (\(5,297) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.65 540.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.30 540.22 Td (\(830) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 540.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 540.17 Td (27,703) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 525.17 Td (Gain \(loss\) on sale of real estate investments, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.15 525.17 Td (173,344) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.15 525.17 Td (20,711) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 525.17 Td (209,774) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 525.17 Td (50,094) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 510.17 Td (Interest expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.80 510.22 Td (\(4,380) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 510.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.80 510.22 Td (\(9,397) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.65 510.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.80 510.22 Td (\(21,202) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 510.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 510.22 Td (\(28,717) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 510.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 495.17 Td (Interest income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 495.17 Td (62) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 495.17 Td (12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 495.17 Td (125) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 495.17 Td (33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 480.17 Td (Benefit \(provision\) for income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 480.17 Td (43) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.30 480.22 Td (\(59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.65 480.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.30 480.22 Td (\(33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 480.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 480.22 Td (\(171) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 480.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 465.17 Td (Income \(loss\) from discontinued operations, net of taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.30 465.22 Td (\(7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 465.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.30 465.22 Td (\(4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.65 465.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.30 465.22 Td (\(22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 465.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 465.22 Td (\(165) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 465.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 450.17 Td (Net income \(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.00 450.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.15 450.17 Td (176,065) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 450.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.80 450.22 Td (\(9,164) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.65 450.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.00 450.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 450.17 Td (183,417) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 450.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 450.17 Td (35,652) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 422.00 Td (15. Subsequent Events) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 398.00 Td (Champions V) Tj ET Q q 0 0 0 rg BT 121.43 398.00 Td (illage) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 374.00 Td (In October 2016, the Company sold Champions ) Tj ET Q q 0 0 0 rg BT 261.69 374.00 Td (V) Tj ET Q q 0 0 0 rg BT 268.31 374.00 Td (illage for a sales price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.37 374.00 Td ($50.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.26 374.00 Td ( to the same buyer that purchased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 362.00 Td (seven) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.77 362.00 Td ( of the Grocery-Anchored Portfolio properties in ) Tj ET Q q 0 0 0 rg BT 269.10 362.00 Td (August 2016. ) Tj ET Q q 0 0 0 rg BT 325.31 362.00 Td (The Grocery-Anchored Portfolio consisted of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.98 362.00 Td (eight) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.98 362.00 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 350.00 Td (grocery-anchored shopping centers that were acquired in January 2014 for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.88 350.00 Td ($178.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.77 350.00 Td ( in aggregate. See Note 3 Real ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 338.00 Td (Estate Investments Property Sales for information regarding the sale of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.09 338.00 Td (seven) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.86 338.00 Td ( of the Grocery-Anchored Portfolio properties.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 314.00 Td (W) Tj ET Q q 0 0 0 rg BT 75.41 314.00 Td (est Coast ) Tj ET Q q 0 0 0 rg BT 114.68 314.00 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 290.00 Td (As described in Note 1 Or) Tj ET Q q 0 0 0 rg BT 185.02 290.00 Td (ganization, in November 2016, the Company sold the ) Tj ET Q q 0 0 0 rg BT 401.46 290.00 Td (W) Tj ET Q q 0 0 0 rg BT 410.10 290.00 Td (est Coast ) Tj ET Q q 0 0 0 rg BT 448.43 290.00 Td (Assets for an aggregate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 278.00 Td (sales price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.25 278.00 Td ($1.162 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.37 278.00 Td (. ) Tj ET Q q 0 0 0 rg BT 166.19 278.00 Td (The Company originally acquired the ) Tj ET Q q 0 0 0 rg BT 318.46 278.00 Td (W) Tj ET Q q 0 0 0 rg BT 327.10 278.00 Td (est Coast ) Tj ET Q q 0 0 0 rg BT 365.43 278.00 Td (Assets between June 2005 and May 2015 for a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 266.00 Td (purchase price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 121.35 266.00 Td ($1.1 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.47 266.00 Td ( in aggregate. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 242.00 Td (Civica Office Commons) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 218.00 Td (In November 2016, the Company sold Civica Of) Tj ET Q q 0 0 0 rg BT 262.79 218.00 Td (fice Commons for a sales price of $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.24 218.00 Td (193.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.13 218.00 Td (. ) Tj ET Q q 0 0 0 rg BT 463.95 218.00 Td (The Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 206.00 Td (originally acquired Civica Of) Tj ET Q q 0 0 0 rg BT 167.28 206.00 Td (fice Commons in February 2015 for a purchase price of $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.21 206.00 Td (205.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.10 206.00 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 302.50 170.00 Td (*****) Tj ET Q endstream endobj 55 0 obj <> endobj 56 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (25) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Item2.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 79.99 742.25 Td ( Management) Tj ET Q q 0 0 0 rg BT 142.03 742.25 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 213.62 742.25 Td (Analysis of Financial Condition and Results of Operations.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 718.25 Td (The following discussion and analysis of our financial condition and r) Tj ET Q q 0 0 0 rg BT 348.75 718.25 Td (esults of operations should be r) Tj ET Q q 0 0 0 rg BT 474.21 718.25 Td (ead in conjunction ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (with our unaudited condensed consolidated financial statements andthe notes ther) Tj ET Q q 0 0 0 rg BT 381.25 706.25 Td (eto included elsewher) Tj ET Q q 0 0 0 rg BT 468.08 706.25 Td (e in this Quarterly ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 Td (Report on Form10-Q. The following discussion should also be r) Tj ET Q q 0 0 0 rg BT 308.24 694.25 Td (ead in conjunction with our audited consolidated financial ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (statements and the notes ther) Tj ET Q q 0 0 0 rg BT 166.28 682.25 Td (eto and Management) Tj ET Q q 0 0 0 rg BT 258.31 682.25 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 328.41 682.25 Td (Analysis of Financial Condition and Results of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (Operations included in our ) Tj ET Q q 0 0 0 rg BT 166.48 670.25 Td (Annual Report on Form10-K for the year ended ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 362.84 670.25 Td (December31, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 441.43 670.25 Td ( \() Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 452.82 670.25 Td (2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 472.82 670.25 Td ( ) Tj ET Q q 0 0 0 rg BT 475.14 670.25 Td (Annual Report\).) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 68.00 646.25 Td (Cautionary NoteRegarding Forward-Looking Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 622.25 Td (This Quarterly Report on Form10-Q includes forward-looking statements within the meaning of Section27A) Tj ET Q q 0 0 0 rg BT 506.81 622.25 Td ( of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.25 Td (Securities ) Tj ET Q q 0 0 0 rg BT 91.38 610.25 Td (Act of 1933, as amended, and Section21E of the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 372.97 610.25 Td (Act of 1934, as amended \(the Exchange ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.25 Td (Act\). Such statements include statements concerning future financial performance and distributions, future debt and financing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.25 Td (levels, payments toHines ) Tj ET Q q 0 0 0 rg BT 154.71 586.25 Td (Advisors Limited Partnership \(the Advisor\), and its af) Tj ET Q q 0 0 0 rg BT 379.48 586.25 Td (filiates and other plans and objectives of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.25 Td (management for future operations or economic performance, or assumptions or forecasts related thereto as well as all other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (statements that are not historical statements. ) Tj ET Q q 0 0 0 rg BT 228.94 562.25 Td (These statements are only predictions. ) Tj ET Q q 0 0 0 rg BT 384.26 562.25 Td (W) Tj ET Q q 0 0 0 rg BT 392.90 562.25 Td (e caution that forward-looking statements ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 Td (are not guarantees. ) Tj ET Q q 0 0 0 rg BT 127.19 550.25 Td (Actual events or our investments and results of operations could dif) Tj ET Q q 0 0 0 rg BT 397.50 550.25 Td (fer materially from those expressed or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.25 Td (implied in forward-looking statements. Forward-looking statements are typically identified by the use of terms such as may) Tj ET Q q 0 0 0 rg BT 547.84 538.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.25 Td (should, expect, could, intend, plan, anticipate, estimate, believe, continue, predict, potential or the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (negative of such terms and other comparable terminology) Tj ET Q q 0 0 0 rg BT 280.11 514.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 490.25 Td (The forward-looking statements included in this Quarterly Report on Form10-Q are based on our current expectations, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.25 Td (plans, estimates, assumptions and beliefs that involve numerous risks and uncertainties. ) Tj ET Q q 0 0 0 rg BT 402.16 478.25 Td (Assumptions relating to the foregoing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td (involve judgments with respect to, among other things, future economic, competitive and market conditions, the availability of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.25 Td (future financing and future business decisions, all of which are dif) Tj ET Q q 0 0 0 rg BT 314.46 454.25 Td (ficult or impossible to predict accurately and many of which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.25 Td (are beyond our control. ) Tj ET Q q 0 0 0 rg BT 145.25 442.25 Td (Any of the assumptions underlying forward-looking statements could prove to be inaccurate. ) Tj ET Q q 0 0 0 rg BT 519.14 442.25 Td (T) Tj ET Q q 0 0 0 rg BT 524.55 442.25 Td (o the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.25 Td (extent that our assumptions dif) Tj ET Q q 0 0 0 rg BT 173.13 430.25 Td (fer from actual results, our ability to meet such forward-looking statements, including our ability ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.25 Td (to generate positive cash flow from operations, pay distributions to our stockholders and maintain the value of the real estate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.25 Td (properties in which we hold an interest, may be significantly hindered.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 382.25 Td (The following are some of the risks and uncertainties, which could cause actual results to dif) Tj ET Q q 0 0 0 rg BT 438.26 382.25 Td (fer materially from those ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.25 Td (presented in certain forward-looking statements:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 346.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 346.25 Td (Whether we will be able to complete the sale of all or substantially all of our assets as expected;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 322.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 322.25 Td (Unanticipated dif) Tj ET Q q 0 0 0 rg BT 164.52 322.25 Td (ficulties or expenditures relating to the Plan of Liquidation; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 298.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 298.25 Td (Risks associated with the potential response of tenants, business partners and competitors to the announcement of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 286.25 Td (the Plan of Liquidation; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 262.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 262.25 Td (Risks associated with legal proceedings that may be instituted against us and others related to the Plan of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 250.25 Td (Liquidation;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 226.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 226.25 Td (The potential need to fund tenant improvements, lease-up costs or other capital expenditures, as well as increases in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 214.25 Td (property operating expenses and costs of compliance with environmental matters or discovery of previously ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 202.25 Td (undetected environmentally hazardous or other undetected adverse conditions at our properties;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 178.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 178.25 Td (Risks associated with debt;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 154.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 154.25 Td (Competition for tenants and real estate investment opportunities, including competition with af) Tj ET Q q 0 0 0 rg BT 474.74 154.25 Td (filiates of Hines ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 142.25 Td (Interests Limited Partnership \(Hines\);) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 118.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 118.25 Td (Risks associated with adverse changes in general economic or local market conditions, including terrorist attacks ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 106.25 Td (and other acts of violence, which may af) Tj ET Q q 0 0 0 rg BT 256.98 106.25 Td (fect the markets in which we and our tenants operate;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 82.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 82.25 Td (Catastrophic events, such as hurricanes, earthquakes, tornadoes and terrorist attacks; and our ability to secure ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 70.25 Td (adequate insurance at reasonable and appropriate rates;) Tj ET Q endstream endobj 57 0 obj <> endobj 58 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 742.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 742.10 Td (The failure of any bank in which we deposit our funds could reduce the amount of cash we have available to pay ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 730.10 Td (distributions and make additional investments;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 706.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 706.10 Td (Changes in governmental, tax, real estate and zoning laws and regulations and the related costs of compliance and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 694.10 Td (increases in our administrative operating expenses, including expenses associated with operating as a public ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 682.10 Td (company;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 658.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 658.10 Td (Risks relating to our investment in Hines USCore Of) Tj ET Q q 0 0 0 rg BT 308.96 658.10 Td (fice Fund LP) Tj ET Q q 0 0 0 rg BT 360.81 658.10 Td ( \(the Core Fund\), such as its reliance on Hines ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 646.10 Td (for its operations and investments, and our potential liability for Core Fund obligations;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 622.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 622.10 Td (The lack of liquidity associated with our assets;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 598.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 598.10 Td (Our reliance on our ) Tj ET Q q 0 0 0 rg BT 174.97 598.10 Td (Advisor) Tj ET Q q 0 0 0 rg BT 206.79 598.10 Td (, Hines and af) Tj ET Q q 0 0 0 rg BT 262.15 598.10 Td (filiates of Hines for our day-to-day operations and our ) Tj ET Q q 0 0 0 rg BT 480.70 598.10 Td (Advisor) Tj ET Q q 0 0 0 rg BT 513.29 598.10 Td () Tj ET Q q 0 0 0 rg BT 516.07 598.10 Td (s ability to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 586.10 Td (attract and retain high-quality personnel who can provide service at a level acceptable to us;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 562.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 562.10 Td (Risks associated with conflicts of interests that result from our relationship with our ) Tj ET Q q 0 0 0 rg BT 432.44 562.10 Td (Advisor and Hines, as well as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 550.10 Td (conflicts of interests certain of our of) Tj ET Q q 0 0 0 rg BT 243.10 550.10 Td (ficers and directors face relating to the positions they hold with other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 538.10 Td (entities;and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 514.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 514.10 Td (Our ability to continue to qualify as a real estate investment trust \(REIT\) for federal income tax purposes.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 490.10 Td (These risks are more fully discussed in, and all forward-looking statements should be read in light of, all of the factors ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (discussed in PartI, Item1A. Risk Factors in our ) Tj ET Q q 0 0 0 rg BT 253.31 478.10 Td (Annual Report on Form10-K for the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.64 478.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.23 478.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 454.10 Td (Y) Tj ET Q q 0 0 0 rg BT 74.22 454.10 Td (ou are cautioned not to place undue reliance on any forward-looking statements included in this Form10-Q. ) Tj ET Q q 0 0 0 rg BT 508.55 454.10 Td (All forward-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (looking statements are made as of the date of this Form10-Q and the risk that actual results will dif) Tj ET Q q 0 0 0 rg BT 447.78 442.10 Td (fer materially from the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (expectations expressed in this Form10-Q may increase with the passage of time. In light of the significant uncertainties ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (inherent in the forward-looking statements included in this Form10-Q, the inclusion of such forward-looking statements should ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (not be regarded as a representation by us or any other person that the objectives and plans set forth in this Form10-Q will be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (achieved. ) Tj ET Q q 0 0 0 rg BT 89.98 394.10 Td (All subsequent written and oral forward-looking statements attributable to us or persons acting on our behalf are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (expressly qualified in their entirety by reference to these risks and uncertainties. Each forward-looking statement speaks only as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (of the date of the particular statement, and we do not undertake to update any forward-looking statement.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 68.00 346.10 Td (Executive Summary) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 322.10 Td (Hines Real Estate Investment ) Tj ET Q q 0 0 0 rg BT 188.34 322.10 Td (T) Tj ET Q q 0 0 0 rg BT 194.10 322.10 Td (rust, Inc. \(Hines REIT and, together with its consolidated subsidiaries, we, us or the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (Company\) and its subsidiary) Tj ET Q q 0 0 0 rg BT 172.94 310.10 Td (, Hines REIT) Tj ET Q q 0 0 0 rg BT 225.81 310.10 Td ( Properties, L.P) Tj ET Q q 0 0 0 rg BT 286.91 310.10 Td (. \(the Operating Partnership\) were formed in ) Tj ET Q q 0 0 0 rg BT 475.73 310.10 Td (August 2003 for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (purpose of investing in and owning interests in real estate. ) Tj ET Q q 0 0 0 rg BT 285.04 298.10 Td (W) Tj ET Q q 0 0 0 rg BT 293.68 298.10 Td (e raised approximately $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.26 298.10 Td (2.7 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.37 298.10 Td ( through various public ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (of) Tj ET Q q 0 0 0 rg BT 58.15 286.10 Td (ferings of our common stock from 2004 to 2009. ) Tj ET Q q 0 0 0 rg BT 255.72 286.10 Td (W) Tj ET Q q 0 0 0 rg BT 264.36 286.10 Td (e used these proceeds to invest in real estate in order to satisfy our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (primary investment objectives, including preserving invested capital, paying regular cash distributions and achieving modest ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (capital appreciation of our assets over the long term. ) Tj ET Q q 0 0 0 rg BT 261.97 262.10 Td (W) Tj ET Q q 0 0 0 rg BT 270.61 262.10 Td (e have made investments directly through entities wholly owned by the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (Operating Partnership or indirectly through other entities such as through our investment in the Core Fund. ) Tj ET Q q 0 0 0 rg BT 479.64 250.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.09 250.10 Td (September30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 238.10 Td (, we had direct and indirect interests in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.45 238.10 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.45 238.10 Td ( properties. ) Tj ET Q q 0 0 0 rg BT 284.75 238.10 Td (These properties consist of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.72 238.10 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.72 238.10 Td ( of) Tj ET Q q 0 0 0 rg BT 415.37 238.10 Td (fice properties located throughout ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (the United States and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.76 226.10 Td (one) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.20 226.10 Td ( grocery-anchored shopping center) Tj ET Q q 0 0 0 rg BT 290.75 226.10 Td (. In total, we acquired interests in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.04 226.10 Td (66) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.04 226.10 Td ( properties since our inception ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (and have sold our interests in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.42 214.10 Td (63) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.42 214.10 Td ( of those properties as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.50 214.10 Td (November14, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.21 214.10 Td (.) Tj ET Q endstream endobj 59 0 obj <> endobj 60 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 742.10 Td (The following table provides summary information regarding the properties in which we owned interests as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.26 730.10 Td (. ) Tj ET Q q 0 0 0 rg BT 134.71 730.10 Td (All assets which are 100% owned by us are referred to as directly-owned properties. ) Tj ET Q q 0 0 0 rg BT 482.64 730.10 Td (All other properties ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (are owned indirectly through investments in the Core Fund.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 656.60 164.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.50 656.60 122.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.50 656.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.50 656.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 656.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 656.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 656.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 656.60 41.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 656.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 656.60 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 626.60 164.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.50 626.60 122.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.50 626.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.50 626.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 626.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 626.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 626.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 626.60 41.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 626.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 626.60 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 596.60 164.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.50 596.60 122.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.50 596.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.50 596.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 596.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 596.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 596.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 596.60 41.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 596.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 596.60 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 566.60 164.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.50 566.60 122.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.50 566.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.50 566.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 566.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 566.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 566.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 566.60 41.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 566.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 566.60 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 536.60 164.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.50 536.60 122.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.50 536.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.50 536.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 536.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 536.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 536.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 536.60 41.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 536.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 536.60 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 478.60 164.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.50 478.60 122.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.50 478.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.50 478.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 478.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 478.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 478.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 478.60 41.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 478.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 478.60 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 448.60 164.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.50 448.60 122.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.50 448.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.50 448.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 448.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 448.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 448.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 448.60 41.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 448.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 448.60 57.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 684.6 m 214.5 684.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 214.5 684.6 m 336.5 684.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 340.5 684.6 m 390.5 684.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 684.6 m 456.5 684.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 684.6 m 501.5 684.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 684.6 m 562.5 684.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 670.6 m 214.5 670.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 214.5 670.6 m 336.5 670.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 670.6 m 214.5 670.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 656.6 m 214.5 656.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 214.5 670.6 m 336.5 670.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 214.5 656.6 m 336.5 656.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 521.6 m 456.5 521.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 521.6 m 501.5 521.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 506.6 m 456.5 506.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 506.6 m 501.5 506.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 478.6 m 214.5 478.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 214.5 478.6 m 336.5 478.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 463.6 m 456.5 463.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 448.6 m 456.5 448.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 463.6 m 501.5 463.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 448.6 m 501.5 448.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 433.6 m 456.5 433.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 448.6 m 501.5 448.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 433.6 m 501.5 433.6 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 114.80 689.05 Td (Property) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 266.75 689.05 Td (City) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 356.00 698.05 Td (Date) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 347.05 689.05 Td (Acquired) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 407.95 698.05 Td (Leasable) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 401.95 689.05 Td (Square Feet) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 465.80 698.05 Td (Percent) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 467.00 689.05 Td (Leased) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 516.50 698.05 Td (Effective ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 508.45 689.05 Td (Ownership) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 550.96 693.59 Td (\(1\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 675.28 Td (Directly-owned Properties) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.00 675.28 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 425.00 675.28 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 480.50 675.28 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 533.50 675.28 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 661.28 Td (Office Properties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 646.27 Td (2100 Powell ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 105.78 650.80 Td (\(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.00 646.27 Td (Emeryville, California) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.60 646.27 Td (12/2006) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 646.27 Td (345,982) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 646.27 Td (91) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.65 646.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 646.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 646.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 631.27 Td (3 Huntington Quadrangle ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 157.70 635.80 Td (\(3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.00 631.27 Td (Melville, New York) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.60 631.27 Td (07/2007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 631.27 Td (407,912) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 631.27 Td (94) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.65 631.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 631.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 631.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 616.27 Td (Daytona Buildings ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 130.77 620.80 Td (\(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.00 616.27 Td (Redmond, Washington) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.60 616.27 Td (12/2006) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 616.27 Td (251,313) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.60 616.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.65 616.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 616.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 616.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 601.27 Td (Laguna Buildings ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 126.88 605.80 Td (\(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.00 601.27 Td (Redmond, Washington) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.60 601.27 Td (01/2007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 601.27 Td (460,661) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.60 601.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.65 601.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 601.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 601.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 586.27 Td (1900 and 2000 ) Tj ET Q q 0 0 0 rg BT 114.39 586.27 Td (Alameda ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 152.98 590.80 Td (\(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.00 586.27 Td (San Mateo, California) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.60 586.27 Td (06/2005) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 586.27 Td (267,006) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 586.27 Td (97) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.65 586.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 586.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 586.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 571.27 Td (5th and Bell ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 104.38 575.80 Td (\(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.00 571.27 Td (Seattle, Washington) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.60 571.27 Td (06/2007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 571.27 Td (197,135) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.60 571.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.65 571.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 571.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 571.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 556.27 Td (Howard Hughes Center ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 149.92 560.80 Td (\(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.00 556.27 Td (Los Angeles, California) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.60 556.27 Td (01/2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.65 556.27 Td (1,334,586) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 556.27 Td (79) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.65 556.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 556.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 556.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 541.27 Td (Civica Of) Tj ET Q q 0 0 0 rg BT 91.97 541.27 Td (fice Commons ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 153.08 545.80 Td (\(4\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.00 541.27 Td (Bellevue, Washington) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.60 541.27 Td (02/2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 541.27 Td (312,295) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 541.27 Td (97) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.65 541.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 541.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 541.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 526.27 Td (2851 Junction ) Tj ET Q q 0 0 0 rg BT 111.33 526.27 Td (A) Tj ET Q q 0 0 0 rg BT 117.81 526.27 Td (venue ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 144.19 530.80 Td (\(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.00 526.27 Td (San Jose, California) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.60 526.27 Td (05/2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 526.27 Td (155,613) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.60 526.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.65 526.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 526.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 526.27 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 511.28 Td (Total for Office Properties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.00 511.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.65 511.27 Td (3,732,503) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 511.27 Td (91) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.65 511.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 511.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 483.28 Td (Grocery-Anchored Portfolio) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.00 483.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.00 483.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 483.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 483.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 468.27 Td (Champions ) Tj ET Q q 0 0 0 rg BT 100.88 468.27 Td (V) Tj ET Q q 0 0 0 rg BT 107.50 468.27 Td (illage ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 132.21 472.80 Td (\(5\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.00 468.27 Td (Houston, Texas) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.75 468.27 Td (11/2008) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 468.27 Td (392,870) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 468.27 Td (82) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.65 468.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 468.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 468.27 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 453.28 Td (Total for Grocery-Anchored Portfolio) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.00 453.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 453.27 Td (392,870) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 453.27 Td (82) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.65 453.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 453.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 438.28 Td (Total for Directly-owned Properties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.65 438.27 Td (4,125,373) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 438.27 Td (90) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.65 438.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 393.60 164.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.50 393.60 122.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.50 393.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.50 393.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 393.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 393.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 393.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 393.60 41.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 393.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 393.60 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 363.60 164.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.50 363.60 122.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.50 363.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.50 363.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 363.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 363.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 363.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 363.60 41.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 363.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 363.60 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 333.60 164.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.50 333.60 122.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.50 333.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.50 333.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 333.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 333.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 333.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 333.60 41.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 333.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 333.60 57.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 408.6 m 214.5 408.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 214.5 408.6 m 336.5 408.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 393.6 m 214.5 393.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 214.5 393.6 m 336.5 393.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 333.6 m 456.5 333.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 333.6 m 501.5 333.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 318.6 m 456.5 318.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 318.6 m 501.5 318.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 318.6 m 456.5 318.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 303.6 m 456.5 303.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 318.6 m 501.5 318.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 303.6 m 501.5 303.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 413.28 Td (Indirectly-owned Properties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.00 413.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.00 413.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 413.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 413.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 398.28 Td (Core Fund Properties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.00 398.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.00 398.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 398.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 398.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 383.27 Td (One ) Tj ET Q q 0 0 0 rg BT 71.61 383.27 Td (Atlantic Center ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 135.48 387.80 Td (\(6\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.00 383.27 Td (Atlanta, Georgia) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.60 383.27 Td (07/2006) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.65 383.27 Td (1,100,312) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 383.27 Td (91) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.65 383.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 383.27 Td (24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 383.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 368.27 Td (Renaissance Square) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 132.69 372.80 Td ( \(7\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.00 368.27 Td (Phoenix, Arizona) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.60 368.27 Td (12/2007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 368.27 Td (967,379) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 368.27 Td (76) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.65 368.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 368.27 Td (24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 368.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 353.27 Td (W) Tj ET Q q 0 0 0 rg BT 61.64 353.27 Td (ells Far) Tj ET Q q 0 0 0 rg BT 91.17 353.27 Td (go Center ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 132.83 357.80 Td (\(8\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.00 353.27 Td (Sacramento, California) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.60 353.27 Td (05/2007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 353.27 Td (508,402) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 353.27 Td (85) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.65 353.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 353.27 Td (20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 353.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 338.27 Td (Warner Center) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.00 338.27 Td (Woodland Hills, California) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.60 338.27 Td (10/2006) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 338.27 Td (808,274) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 338.27 Td (93) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.65 338.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 338.27 Td (20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 338.27 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 323.28 Td (Total for Core Fund Properties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.00 323.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.00 323.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.65 323.27 Td (3,384,367) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 323.27 Td (86) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.65 323.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 323.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 308.28 Td (Total for All Properties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.00 308.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.65 308.27 Td (7,509,740) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 308.27 Td (88) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.65 308.27 Td (%) Tj ET Q BT /F1 5.20 Tf ET q 0 0 0 rg BT 504.00 317.26 Td (\() Tj ET Q BT /F1 5.20 Tf ET q 0 0 0 rg BT 504.00 309.26 Td (9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 308.27 Td () Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 280.10 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 280.10 Td (This percentage shows the ef) Tj ET Q q 0 0 0 rg BT 201.89 280.10 Td (fective ownership of the Operating Partnership in the properties listed. On ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.70 280.10 Td (September30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 268.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 106.00 268.10 Td (, Hines REIT) Tj ET Q q 0 0 0 rg BT 158.87 268.10 Td ( owned a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.46 268.10 Td (91.1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.29 268.10 Td ( interest in the Operating Partnership as its sole general partner) Tj ET Q q 0 0 0 rg BT 474.33 268.10 Td (. ) Tj ET Q q 0 0 0 rg BT 478.78 268.10 Td (Af) Tj ET Q q 0 0 0 rg BT 489.15 268.10 Td (filiates of Hines ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 256.10 Td (owned the remaining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.92 256.10 Td (8.9%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.75 256.10 Td ( interest in the Operating Partnership. In addition, we owned an approximate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.55 256.10 Td (28.8%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.38 256.10 Td ( non-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 244.10 Td (managing general partner interest in the Core Fund as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.26 244.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.53 244.10 Td (. ) Tj ET Q q 0 0 0 rg BT 399.34 244.10 Td (The Core Fund does not own 100% of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 232.10 Td (these properties; its ownership interest in its properties ranges from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.60 232.10 Td (67.8%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.43 232.10 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.21 232.10 Td (84.9%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.04 232.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 208.10 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 208.10 Td (In November 2016, we sold 2100 Powell, the Daytona Buildings, the Laguna Buildings, 1900 and 2000 ) Tj ET Q q 0 0 0 rg BT 502.62 208.10 Td (Alameda, 5th ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 196.10 Td (and Bell, Howard Hughes Center and 2851 Junction ) Tj ET Q q 0 0 0 rg BT 296.80 196.10 Td (A) Tj ET Q q 0 0 0 rg BT 303.28 196.10 Td (venue \(the W) Tj ET Q q 0 0 0 rg BT 360.78 196.10 Td (est Coast ) Tj ET Q q 0 0 0 rg BT 399.11 196.10 Td (Assets\). See Subsequent Events for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 184.10 Td (additional information. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 160.10 Td (\(3\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 160.10 Td (In June 2016, we entered into a contract to sell 3 Huntington Quadrangle. ) Tj ET Q q 0 0 0 rg BT 382.13 160.10 Td (W) Tj ET Q q 0 0 0 rg BT 390.77 160.10 Td (e expect the closing of this sale to occur ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 148.10 Td (during the fourth quarter of 2016.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 124.10 Td (\(4\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 124.10 Td (In November 2016, we sold Civica Of) Tj ET Q q 0 0 0 rg BT 238.84 124.10 Td (fice Commons. See Subsequent Events for additional information. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 100.10 Td (\(5\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 100.10 Td (In October 2016, we sold Champions ) Tj ET Q q 0 0 0 rg BT 237.74 100.10 Td (V) Tj ET Q q 0 0 0 rg BT 244.36 100.10 Td (illage. See Subsequent Events for additional information. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 76.10 Td (\(6\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 76.10 Td (In October 2016, the Core Fund sold One ) Tj ET Q q 0 0 0 rg BT 254.03 76.10 Td (Atlantic Center for a sales price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.25 76.10 Td ($318.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.14 76.10 Td (. ) Tj ET Q q 0 0 0 rg BT 457.96 76.10 Td (The Core Fund acquired ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 64.10 Td (One ) Tj ET Q q 0 0 0 rg BT 104.61 64.10 Td (Atlantic Center in July 2006 for a purchase price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.88 64.10 Td ($305.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.77 64.10 Td (.) Tj ET Q endstream endobj 61 0 obj <> endobj 62 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (\(7\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 742.10 Td (In November 2016, the Core Fund entered into a contract to sell Renaissance Square. ) Tj ET Q q 0 0 0 rg BT 429.05 742.10 Td (The Core Fund expects the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 730.10 Td (closing of this sale to occur during the fourth quarter of 2016.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (\(8\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 706.10 Td (In November 2016, the Core Fund sold ) Tj ET Q q 0 0 0 rg BT 245.24 706.10 Td (W) Tj ET Q q 0 0 0 rg BT 253.88 706.10 Td (ells Far) Tj ET Q q 0 0 0 rg BT 283.42 706.10 Td (go Center for a sales price of $175.6 million. ) Tj ET Q q 0 0 0 rg BT 465.14 706.10 Td (The Core Fund ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 694.10 Td (acquired ) Tj ET Q q 0 0 0 rg BT 122.74 694.10 Td (W) Tj ET Q q 0 0 0 rg BT 131.38 694.10 Td (ells Far) Tj ET Q q 0 0 0 rg BT 160.92 694.10 Td (go Center in May 2007 for a purchase price of $224.0 million.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (\(9\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 670.10 Td (This amount represents the percentage leased assuming we own a 100% interest in each of these properties. ) Tj ET Q q 0 0 0 rg BT 520.95 670.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 658.10 Td (percentage leasedbased on our ef) Tj ET Q q 0 0 0 rg BT 220.47 658.10 Td (fective ownership interest in each property is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.91 658.10 Td (89%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.24 658.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 634.10 Td (Since the conclusion of our public of) Tj ET Q q 0 0 0 rg BT 215.56 634.10 Td (ferings, we have concentrated our ef) Tj ET Q q 0 0 0 rg BT 360.87 634.10 Td (forts on actively managing our assets and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (exploring a variety of strategic opportunities focused on enhancing the composition of our portfolio and its total return potential ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (for our stockholders. In doing this, we have elected to make strategic dispositions, which have provided us with additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (liquidity) Tj ET Q q 0 0 0 rg BT 83.24 598.10 Td (.) Tj ET Q q 0 0 0 rg BT 88.06 598.10 Td (W) Tj ET Q q 0 0 0 rg BT 96.70 598.10 Td (e have used the proceeds from such dispositions to make additional strategic acquisitions focused on high-quality ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (of) Tj ET Q q 0 0 0 rg BT 58.15 586.10 Td (fice assets located on the ) Tj ET Q q 0 0 0 rg BT 159.87 586.10 Td (W) Tj ET Q q 0 0 0 rg BT 168.51 586.10 Td (est Coast in order to best position our portfolio for a liquidity event, such as our purchase of 2851 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (Junction ) Tj ET Q q 0 0 0 rg BT 85.83 574.10 Td (A) Tj ET Q q 0 0 0 rg BT 92.31 574.10 Td (venue, which we acquired in May 2015, Civica Of) Tj ET Q q 0 0 0 rg BT 294.30 574.10 Td (fice Commons, which we acquired in February 2015 and the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (Howard Hughes Center) Tj ET Q q 0 0 0 rg BT 144.02 562.10 Td (, which we acquired in January 2014. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 538.10 Td (On June 29, 2016, in connection with a review of our potential strategic alternatives, our board of directors determined that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (it is in our best interest and in the best interest of our stockholders to sell all or substantially all of our properties and assets and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (liquidate and dissolve pursuant to a plan of liquidation and dissolution \(the Plan of Liquidation\). ) Tj ET Q q 0 0 0 rg BT 446.42 514.10 Td (The principal purpose of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (liquidation is to seek to maximize stockholder value by liquidating our assets and distributing the net proceeds of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (liquidation to our stockholders. ) Tj ET Q q 0 0 0 rg BT 179.43 490.10 Td (As part of the Plan of Liquidation, we and certain of our af) Tj ET Q q 0 0 0 rg BT 414.46 490.10 Td (filiates have entered into an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (Agreement of Sale and Purchase, dated as of June 29, 2016, with BRE Hydra Property Owner LLC \(Purchaser and such ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (agreement, the W) Tj ET Q q 0 0 0 rg BT 124.43 466.10 Td (est Coast ) Tj ET Q q 0 0 0 rg BT 162.77 466.10 Td (Asset ) Tj ET Q q 0 0 0 rg BT 186.94 466.10 Td (Agreement\) to sell to Purchaser) Tj ET Q q 0 0 0 rg BT 317.60 466.10 Td (, an af) Tj ET Q q 0 0 0 rg BT 342.13 466.10 Td (filiate of Blackstone Real Estate Partners ) Tj ET Q q 0 0 0 rg BT 508.56 466.10 Td (VIII L.P) Tj ET Q q 0 0 0 rg BT 541.33 466.10 Td (., for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (a purchase price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.29 454.10 Td ($1.162 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.40 454.10 Td (, the following seven properties of the Company: Howard Hughes Center in Los ) Tj ET Q q 0 0 0 rg BT 507.12 454.10 Td (Angeles, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (California, Laguna Buildings in Redmond, ) Tj ET Q q 0 0 0 rg BT 223.41 442.10 Td (W) Tj ET Q q 0 0 0 rg BT 232.05 442.10 Td (ashington, 2100 Powell in Emeryville, California, 1900 and 2000 ) Tj ET Q q 0 0 0 rg BT 495.35 442.10 Td (Alameda in San ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (Mateo, California, Daytona Buildings in Redmond, ) Tj ET Q q 0 0 0 rg BT 257.85 430.10 Td (W) Tj ET Q q 0 0 0 rg BT 266.48 430.10 Td (ashington, 5th and Bell in Seattle, ) Tj ET Q q 0 0 0 rg BT 404.06 430.10 Td (W) Tj ET Q q 0 0 0 rg BT 412.70 430.10 Td (ashington and 2851 Junction ) Tj ET Q q 0 0 0 rg BT 529.36 430.10 Td (A) Tj ET Q q 0 0 0 rg BT 535.84 430.10 Td (venue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (in San Jose, California \(collectively) Tj ET Q q 0 0 0 rg BT 192.37 418.10 Td (, the W) Tj ET Q q 0 0 0 rg BT 225.16 418.10 Td (est Coast ) Tj ET Q q 0 0 0 rg BT 263.50 418.10 Td (Assets, and such transaction the W) Tj ET Q q 0 0 0 rg BT 410.98 418.10 Td (est Coast ) Tj ET Q q 0 0 0 rg BT 449.32 418.10 Td (Asset Sale\). ) Tj ET Q q 0 0 0 rg BT 505.97 418.10 Td (As required ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (by Maryland law and our charter) Tj ET Q q 0 0 0 rg BT 180.94 406.10 Td (, the Plan of Liquidation was approved by the af) Tj ET Q q 0 0 0 rg BT 373.49 406.10 Td (firmative vote of the holders of at least a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (majority of the shares of our common stock outstanding and entitled to vote thereon at our annual meeting of shareholders held ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (on November 7, 2016. ) Tj ET Q q 0 0 0 rg BT 144.53 382.10 Td (The ) Tj ET Q q 0 0 0 rg BT 162.39 382.10 Td (W) Tj ET Q q 0 0 0 rg BT 171.03 382.10 Td (est Coast ) Tj ET Q q 0 0 0 rg BT 209.37 382.10 Td (Asset Sale closed thereafter on November 10, 2016. If the sale of all or substantially all ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (of our assets is completed as expected, we expect to make one or more liquidating distributions to our stockholders during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (period of the liquidation process and expect to make the first of these liquidating distributions to our stockholders prior to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (December 31, 2016. ) Tj ET Q q 0 0 0 rg BT 133.40 346.10 Td (There can be no assurances regarding the amounts of any distributions or the timing thereof. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 322.10 Td (Our portfolio was) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.60 322.10 Td (89%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.93 322.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.37 322.10 Td (88%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.70 322.10 Td ( leased \(based on our ef) Tj ET Q q 0 0 0 rg BT 295.20 322.10 Td (fective ownership\) as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.05 322.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.32 322.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.75 322.10 Td (December31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 310.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 122.66 310.10 Td (.) Tj ET Q q 0 0 0 rg BT 127.11 310.10 Td (As a result of the strategic acquisitions and dispositions described above, as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.15 310.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.41 310.10 Td (, our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (portfolio was geographically located ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.84 298.10 Td (88%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.17 298.10 Td ( in the ) Tj ET Q q 0 0 0 rg BT 244.48 298.10 Td (W) Tj ET Q q 0 0 0 rg BT 253.12 298.10 Td (est, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.23 298.10 Td (3%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.56 298.10 Td ( in the East and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.71 298.10 Td (9%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.04 298.10 Td ( in the South. Our management closely monitors ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (the portfolio) Tj ET Q q 0 0 0 rg BT 102.49 286.10 Td (s lease expirations, which for the period from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.60 286.10 Td (October 1, 2016 through December 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.00 286.10 Td (, and for each of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (years ending December 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.90 274.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.90 274.10 Td ( through December 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.59 274.10 Td (2020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.59 274.10 Td (, are expected to approximate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.09 274.10 Td (2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.42 274.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.42 274.10 Td (7%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.75 274.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.75 274.10 Td (15%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.08 274.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.08 274.10 Td (9%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.41 274.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.85 274.10 Td (8%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.18 274.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 97.66 262.10 Td (, of leasable square feet. ) Tj ET Q q 0 0 0 rg BT 196.60 262.10 Td (W) Tj ET Q q 0 0 0 rg BT 205.23 262.10 Td (e believe this level of expirations is manageable. ) Tj ET Q q 0 0 0 rg BT 401.56 262.10 Td (Although we continue to lease our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (properties to a diverse tenant base over a variety of industries, as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.13 250.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.39 250.10 Td (,our portfoliowas approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.03 250.10 Td (16%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.36 250.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (leased to over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.03 238.10 Td (33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.03 238.10 Td ( companies inthe financial and insurance industries, approximately) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.17 238.10 Td (15%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.50 238.10 Td ( leased to over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.03 238.10 Td (27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.03 238.10 Td ( companies in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (information and technology industries, approximately) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.73 226.10 Td (13%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.06 226.10 Td ( leased to over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.59 226.10 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.59 226.10 Td ( companies in the manufacturing industry and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (approximately) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.26 214.10 Td (9%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.59 214.10 Td ( leased to over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.12 214.10 Td (34) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.12 214.10 Td ( companies in the professional services industry) Tj ET Q q 0 0 0 rg BT 385.09 214.10 Td (. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 68.00 190.10 Td (Critical ) Tj ET Q q 0 0 0 rg BT 101.24 190.10 Td (Accounting Policies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 166.10 Td (Each of our critical accounting policies involves the use of estimates that require management to make assumptions that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (are subjective in nature. Management relies on its experience, collects historical and current market data, and analyzes these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (assumptions in order to arrive at what it believes to be reasonable estimates.In addition, application of these accounting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (policies involves the exercise of judgment regarding assumptions as to future uncertainties. ) Tj ET Q q 0 0 0 rg BT 416.85 130.10 Td (Actual results could materially ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (dif) Tj ET Q q 0 0 0 rg BT 60.93 118.10 Td (fer from these estimates. ) Tj ET Q q 0 0 0 rg BT 161.17 118.10 Td (A) Tj ET Q q 0 0 0 rg BT 167.84 118.10 Td ( disclosure of our critical accounting policies is included in our ) Tj ET Q q 0 0 0 rg BT 421.94 118.10 Td (Annual Report on Form 10-K for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.80 106.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.38 106.10 Td ( in Management) Tj ET Q q 0 0 0 rg BT 261.58 106.10 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 330.75 106.10 Td (Analysis of Financial Condition and Results of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 Td (Operations. ) Tj ET Q q 0 0 0 rg BT 103.13 94.10 Td (There have been no significant changes to our policies during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.94 94.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.94 94.10 Td (.) Tj ET Q endstream endobj 63 0 obj <> endobj 64 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (29) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 68.00 742.25 Td (Financial Condition, Liquidity and Capital Resour) Tj ET Q q 0 0 0 rg BT 283.98 742.25 Td (ces) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 68.00 718.25 Td (General) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 706.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 694.25 Td (Our principal cash requirements have been for the acquisition of real estate investments, property-level operating expenses, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (capital improvements and leasing costs, strategic investments in real property) Tj ET Q q 0 0 0 rg BT 359.26 682.25 Td (, debt service, corporate-level general and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (administrative expenses, distributions and redemptions. ) Tj ET Q q 0 0 0 rg BT 274.50 670.25 Td (W) Tj ET Q q 0 0 0 rg BT 283.14 670.25 Td (e have four primary sources of capital for meeting our cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (requirements:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 634.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 634.25 Td (proceeds from our dividend reinvestment plan, which was suspended ef) Tj ET Q q 0 0 0 rg BT 390.41 634.25 Td (fective as of June 30, 2016;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 622.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 622.25 Td (debt financings, including secured or unsecured facilities;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 610.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 610.25 Td (proceeds from the sale of our properties, including those owned by the Core Fund; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 598.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 598.25 Td (cash flow generated by our real estate investments and operations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 574.25 Td (W) Tj ET Q q 0 0 0 rg BT 76.64 574.25 Td (e are focused on maintaining a strong cash position and managing our capital needs.Our liquidity needs were primarily ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (met through cash flow generated by our properties and distributions from unconsolidated entities.) Tj ET Q q 0 0 0 rg BT 442.13 562.25 Td (Additionally) Tj ET Q q 0 0 0 rg BT 492.04 562.25 Td (, due to our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 Td (ability to execute on several strategic asset sales, we had available liquidity to acquire additional investment properties in order ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.25 Td (to reposition our portfolio for a liquidity event. ) Tj ET Q q 0 0 0 rg BT 239.69 538.25 Td (As described earlier) Tj ET Q q 0 0 0 rg BT 319.25 538.25 Td (, our board of directors and our shareholders have approved ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.25 Td (the Plan of Liquidation. In accordance with the Plan of Liquidation, we plan to sell all of our remaining directly-owned ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (properties and we also plan to sell all of the remaining properties we own indirectly thorough the Core Fund. ) Tj ET Q q 0 0 0 rg BT 487.12 514.25 Td (After the payment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td (or provision for all of our outstanding liabilities, we expect to distribute the sales proceeds to our stockholders. Below is a list ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.25 Td (of the properties sold by us and the Core Fund during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.07 490.25 Td (nine months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.62 490.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.12 490.25 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.38 490.25 Td (:) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 466.25 Td (Hines REIT) Tj ET Q q 0 0 0 rg BT 114.76 466.25 Td ( ) Tj ET Q q 0 0 0 rg BT 117.08 466.25 Td (Asset Sales) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 442.25 Td ( ) Tj ET Q BT /F3 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 86 440.9169921875 m 141.4541015625 440.9169921875 l s q 0 0 0 rg BT 86.00 442.25 Td (1515 S. Str) Tj ET Q q 0 0 0 rg BT 129.80 442.25 Td (eet) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 141.45 442.25 Td ( - ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.78 442.25 Td (In ) Tj ET Q q 0 0 0 rg BT 160.06 442.25 Td (April 2016, we sold 1515 S. Street, an of) Tj ET Q q 0 0 0 rg BT 323.48 442.25 Td (fice building located in Sacramento, California, for a sales ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 430.25 Td (price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 119.32 430.25 Td ($68.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.21 430.25 Td (. ) Tj ET Q q 0 0 0 rg BT 178.03 430.25 Td (W) Tj ET Q q 0 0 0 rg BT 186.66 430.25 Td (e acquired 1515 S. Street in November 2005 for a purchase price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.35 430.25 Td ($66.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.24 430.25 Td (. ) Tj ET Q q 0 0 0 rg BT 518.06 430.25 Td (W) Tj ET Q q 0 0 0 rg BT 526.70 430.25 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 418.25 Td (received net proceeds of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.95 418.25 Td ($67.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.84 418.25 Td ( from this sale.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 394.25 Td ( ) Tj ET Q BT /F3 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 86 392.9169921875 m 285.78515625 392.9169921875 l s q 0 0 0 rg BT 86.00 394.25 Td (345 Inverness Drive and ) Tj ET Q q 0 0 0 rg BT 186.91 394.25 Td (Arapahoe Business Park) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 285.79 394.25 Td ( - ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.12 394.25 Td (In May 2016, we sold 345 Inverness Drive and ) Tj ET Q q 0 0 0 rg BT 484.08 394.25 Td (Arapahoe Business ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 382.25 Td (Park, two of) Tj ET Q q 0 0 0 rg BT 134.98 382.25 Td (fice buildings located in Denver) Tj ET Q q 0 0 0 rg BT 262.87 382.25 Td (, Colorado, for a sales price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.44 382.25 Td ($78.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.33 382.25 Td (. ) Tj ET Q q 0 0 0 rg BT 445.15 382.25 Td (W) Tj ET Q q 0 0 0 rg BT 453.79 382.25 Td (e acquired 345 Inverness ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 370.25 Td (Drive and ) Tj ET Q q 0 0 0 rg BT 127.66 370.25 Td (Arapahoe Business Park in December 2008 for a purchase price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.73 370.25 Td ($66.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.62 370.25 Td (. ) Tj ET Q q 0 0 0 rg BT 455.44 370.25 Td (W) Tj ET Q q 0 0 0 rg BT 464.08 370.25 Td (e received net proceeds ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 358.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.83 358.25 Td ($76.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.72 358.25 Td ( from this sale.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 334.25 Td ( ) Tj ET Q BT /F3 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 86 332.9169921875 m 156.2685546875 332.9169921875 l s q 0 0 0 rg BT 86.00 334.25 Td (3400 Data Drive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.27 334.25 Td (- In July 2016, we sold 3400 Data Drive, an of) Tj ET Q q 0 0 0 rg BT 342.16 334.25 Td (fice building located in Rancho Cordova, California, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 322.25 Td (for a sales price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.35 322.25 Td ($26.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.24 322.25 Td (. ) Tj ET Q q 0 0 0 rg BT 221.06 322.25 Td (W) Tj ET Q q 0 0 0 rg BT 229.70 322.25 Td (e acquired 3400 Data Drive in November 2006 for a purchase price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.65 322.25 Td ($32.8 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 310.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.89 310.25 Td (. ) Tj ET Q q 0 0 0 rg BT 119.71 310.25 Td (W) Tj ET Q q 0 0 0 rg BT 128.35 310.25 Td (e received net proceeds of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.23 310.25 Td ($25.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.13 310.25 Td ( from this sale.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 286.25 Td ( ) Tj ET Q BT /F3 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 86 284.9169921875 m 183.041015625 284.9169921875 l s q 0 0 0 rg BT 86.00 286.25 Td (JPMor) Tj ET Q q 0 0 0 rg BT 113.40 286.25 Td (gan Chase T) Tj ET Q q 0 0 0 rg BT 163.04 286.25 Td (ower) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.04 286.25 Td ( - In ) Tj ET Q q 0 0 0 rg BT 201.65 286.25 Td (August 2016, we sold JPMor) Tj ET Q q 0 0 0 rg BT 317.87 286.25 Td (gan Chase ) Tj ET Q q 0 0 0 rg BT 361.56 286.25 Td (T) Tj ET Q q 0 0 0 rg BT 366.97 286.25 Td (ower) Tj ET Q q 0 0 0 rg BT 386.56 286.25 Td (, an of) Tj ET Q q 0 0 0 rg BT 411.65 286.25 Td (fice building located in Dallas, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 274.25 Td (T) Tj ET Q q 0 0 0 rg BT 91.41 274.25 Td (exas, for a sales price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.53 274.25 Td ($273.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.42 274.25 Td (. ) Tj ET Q q 0 0 0 rg BT 254.24 274.25 Td (W) Tj ET Q q 0 0 0 rg BT 262.88 274.25 Td (e acquired JPMor) Tj ET Q q 0 0 0 rg BT 333.24 274.25 Td (gan Chase ) Tj ET Q q 0 0 0 rg BT 376.93 274.25 Td (T) Tj ET Q q 0 0 0 rg BT 382.34 274.25 Td (ower in November 2007 for a purchase price ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 262.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.83 262.25 Td ($289.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.72 262.25 Td (. ) Tj ET Q q 0 0 0 rg BT 160.54 262.25 Td (W) Tj ET Q q 0 0 0 rg BT 169.18 262.25 Td (e received net proceeds of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.06 262.25 Td ($262.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.96 262.25 Td ( from this sale.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 238.25 Td ( ) Tj ET Q BT /F3 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 86 236.9169921875 m 242.6357421875 236.9169921875 l s q 0 0 0 rg BT 86.00 238.25 Td (Gr) Tj ET Q q 0 0 0 rg BT 96.74 238.25 Td (ocery-Anchor) Tj ET Q q 0 0 0 rg BT 151.35 238.25 Td (ed Portfolio pr) Tj ET Q q 0 0 0 rg BT 210.42 238.25 Td (operties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.64 238.25 Td ( - In ) Tj ET Q q 0 0 0 rg BT 261.24 238.25 Td (August 2016, we sold ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.97 238.25 Td (seven) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.73 238.25 Td ( of the Grocery-Anchored Portfolio properties, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 226.25 Td (exclusive of Champions ) Tj ET Q q 0 0 0 rg BT 184.97 226.25 Td (V) Tj ET Q q 0 0 0 rg BT 191.59 226.25 Td (illage, for an aggregate net sale price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.34 226.25 Td ($158.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.23 226.25 Td (. ) Tj ET Q q 0 0 0 rg BT 416.05 226.25 Td (The Grocery-Anchored Portfolio ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 214.25 Td (consists of eight grocery-anchored shopping centers that were acquired in January 2014 for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.38 214.25 Td ($178.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.27 214.25 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 202.25 Td (aggregate. ) Tj ET Q q 0 0 0 rg BT 129.68 202.25 Td (W) Tj ET Q q 0 0 0 rg BT 138.32 202.25 Td (e received net proceeds of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.20 202.25 Td ($152.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.10 202.25 Td ( from this sale.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 178.25 Td ( ) Tj ET Q BT /F3 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 86 176.9169921875 m 152.1181640625 176.9169921875 l s q 0 0 0 rg BT 86.00 178.25 Td (321 North Clark) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.12 178.25 Td ( - In ) Tj ET Q q 0 0 0 rg BT 170.73 178.25 Td (August 2016, we sold 321 North Clark, an of) Tj ET Q q 0 0 0 rg BT 351.08 178.25 Td (fice building located in Chicago, Illinois, for a sales ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 166.25 Td (price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 119.32 166.25 Td ($340.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.21 166.25 Td (. ) Tj ET Q q 0 0 0 rg BT 183.03 166.25 Td (W) Tj ET Q q 0 0 0 rg BT 191.66 166.25 Td (e acquired 321 North Clark in ) Tj ET Q q 0 0 0 rg BT 313.30 166.25 Td (April 2006 for a purchase price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.86 166.25 Td ($247.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.75 166.25 Td (. ) Tj ET Q q 0 0 0 rg BT 515.57 166.25 Td (W) Tj ET Q q 0 0 0 rg BT 524.21 166.25 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 154.25 Td (received net proceeds of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.95 154.25 Td ($330.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.84 154.25 Td ( from this sale.) Tj ET Q endstream endobj 65 0 obj <> endobj 66 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (30) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 742.10 Td (Cor) Tj ET Q q 0 0 0 rg BT 83.19 742.10 Td (e Fund ) Tj ET Q q 0 0 0 rg BT 113.56 742.10 Td (Asset Sales) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 718.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 86 716.7669921875 m 174.33984375 716.7669921875 l s q 0 0 0 rg BT 86.00 718.10 Td (The Carillon Building) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.34 718.10 Td ( - In January 2016, the Core Fund sold ) Tj ET Q q 0 0 0 rg BT 330.80 718.10 Td (The Carillon Building, an of) Tj ET Q q 0 0 0 rg BT 444.22 718.10 Td (fice building located in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 706.10 Td (Charlotte, North Carolina, for a sales price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.83 706.10 Td ($147.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.72 706.10 Td (. ) Tj ET Q q 0 0 0 rg BT 333.54 706.10 Td (The Carillon Building was acquired in July 2007 for a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 694.10 Td (purchase price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 157.35 694.10 Td ($140.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.24 694.10 Td (. ) Tj ET Q q 0 0 0 rg BT 221.06 694.10 Td (The Core Fund received net proceeds of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.06 694.10 Td ($88.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.95 694.10 Td ( from this sale. ) Tj ET Q q 0 0 0 rg BT 499.70 694.10 Td (W) Tj ET Q q 0 0 0 rg BT 508.34 694.10 Td (e recognized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 682.10 Td (a gain on sale of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.03 682.10 Td ($14.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.92 682.10 Td (. ) Tj ET Q q 0 0 0 rg BT 212.37 682.10 Td (At the date of disposition, we owned a 24% ef) Tj ET Q q 0 0 0 rg BT 397.15 682.10 Td (fective interest in ) Tj ET Q q 0 0 0 rg BT 468.88 682.10 Td (The Carillon Building.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 658.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 86 656.7669921875 m 135.0625 656.7669921875 l s q 0 0 0 rg BT 86.00 658.10 Td (525 B Str) Tj ET Q q 0 0 0 rg BT 123.41 658.10 Td (eet) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.06 658.10 Td ( - In March 2016, the Core Fund sold 525 B Street, an of) Tj ET Q q 0 0 0 rg BT 361.79 658.10 Td (fice building located in San Diego, California, for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 646.10 Td (a sales price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.19 646.10 Td ($122.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.08 646.10 Td (. 525 B Street was acquired in ) Tj ET Q q 0 0 0 rg BT 329.28 646.10 Td (August 2005 for a purchase price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.62 646.10 Td ($1) Tj ET Q q 0 0 0 rg BT 485.25 646.10 Td (16.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.14 646.10 Td (. ) Tj ET Q q 0 0 0 rg BT 538.96 646.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 634.10 Td (Core Fund received net proceeds of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.95 634.10 Td ($58.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.84 634.10 Td ( from this sale. ) Tj ET Q q 0 0 0 rg BT 346.59 634.10 Td (W) Tj ET Q q 0 0 0 rg BT 355.23 634.10 Td (e recognized a gain on sale of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.56 634.10 Td ($3.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.45 634.10 Td (. ) Tj ET Q q 0 0 0 rg BT 529.90 634.10 Td (At the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 622.10 Td (date of disposition, we owned a 24% ef) Tj ET Q q 0 0 0 rg BT 243.56 622.10 Td (fective interest in 525 B Street.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 68.00 598.10 Td (Cash Flows from Operating ) Tj ET Q q 0 0 0 rg BT 185.43 598.10 Td (Activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 574.10 Td (Net cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.21 574.10 Td (provided by) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.25 574.10 Td ( operating activities was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.67 574.10 Td ($4.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.56 574.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.94 574.10 Td (nine months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.48 574.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.98 574.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.24 574.10 Td ( compared to net ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.27 562.10 Td (provided by) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.32 562.10 Td ( operating activities of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.51 562.10 Td ($44.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.40 562.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.78 562.10 Td (nine months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.32 562.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.82 562.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.08 562.10 Td (.) Tj ET Q q 0 0 0 rg BT 458.90 562.10 Td (This decrease is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (primarily due to less proceeds from distributions from the sale of Core Fund assets and our dispositions of several properties ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (during 2016 and 2015.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 68.00 514.10 Td (Cash Flows from Investing ) Tj ET Q q 0 0 0 rg BT 182.10 514.10 Td (Activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 490.10 Td (Net cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.21 490.10 Td (provided by) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.25 490.10 Td ( investing activitieswas ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.57 490.10 Td ($933.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.46 490.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.84 490.10 Td (nine months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.38 490.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.88 490.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.14 490.10 Td ( compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (net cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.99 478.10 Td (provided by) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.03 478.10 Td ( investing activities of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.13 478.10 Td ($6.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.02 478.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.39 478.10 Td (nine months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.94 478.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.44 478.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.70 478.10 Td (. ) Tj ET Q q 0 0 0 rg BT 470.02 478.10 Td (The factors that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (contributed to the change between the two periods are summarized below) Tj ET Q q 0 0 0 rg BT 343.69 466.10 Td (.) Tj ET Q BT /F3 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 68 440.7669921875 m 88 440.7669921875 l s q 0 0 0 rg BT 68.00 442.10 Td (2016) Tj ET Q BT /F3 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 418.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 418.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 418.10 Td (e received proceeds of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.81 418.10 Td ($915.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.70 418.10 Td ( from the sale of 1515 S. Street, 345 Inverness Drive and ) Tj ET Q q 0 0 0 rg BT 475.09 418.10 Td (Arapahoe Business ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 406.10 Td (Park, 3400 Data Drive, JPMor) Tj ET Q q 0 0 0 rg BT 207.47 406.10 Td (gan Chase ) Tj ET Q q 0 0 0 rg BT 251.17 406.10 Td (T) Tj ET Q q 0 0 0 rg BT 256.58 406.10 Td (ower) Tj ET Q q 0 0 0 rg BT 276.17 406.10 Td (, seven of the Grocery-Anchored Portfolio properties and 321 North ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 394.10 Td (Clark in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 121.00 394.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.00 394.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.43 394.10 Td ($1.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.33 394.10 Td ( primarily related to the release of an escrow from a previous sale.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 382.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 370.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 370.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 370.10 Td (e received distributions from the Core Fund totaling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.15 370.10 Td ($22.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.04 370.10 Td (, all of which was included in cash flows from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 358.10 Td (investing activities, as they exceeded our equity in earnings of the joint venture.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 334.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 334.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 334.10 Td (e had cash outflows related to capital expenditures at operating properties of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.30 334.10 Td ($3.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.20 334.10 Td (.) Tj ET Q BT /F3 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 68 308.7669921875 m 88 308.7669921875 l s q 0 0 0 rg BT 68.00 310.10 Td (2015) Tj ET Q BT /F3 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 286.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 286.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 286.10 Td (e had cash outflows related to our acquisition of Civica Of) Tj ET Q q 0 0 0 rg BT 328.28 286.10 Td (fice Commons in February 2015 and 2851 Junction ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 274.10 Td (A) Tj ET Q q 0 0 0 rg BT 92.48 274.10 Td (venue in May 2015 of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.29 274.10 Td ($270.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.19 274.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 250.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 250.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 250.10 Td (e received proceeds of $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.81 250.10 Td (231.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.70 250.10 Td ( from the sale of 2555 Grand, Citymark and 4050/4055 Corporate Drive in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 238.10 Td (2015.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 214.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 214.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 214.10 Td (e received distributions from the Core Fund totaling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.15 214.10 Td ($81.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.04 214.10 Td (, of which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.81 214.10 Td ($53.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.70 214.10 Td ( was included in cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 202.10 Td (flows from investing activities, as they exceeded our equity in earnings of the joint venture.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 178.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 178.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 178.10 Td (e had cash outflows related to capital expenditures at operating properties of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.30 178.10 Td ($9.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.20 178.10 Td (.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 71.00 154.10 Td (Cash Flows from Financing ) Tj ET Q q 0 0 0 rg BT 190.11 154.10 Td (Activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 130.10 Td (Net cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.21 130.10 Td (used in) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.82 130.10 Td ( financing activitiesfor the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.05 130.10 Td (nine months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.60 130.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.10 130.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.36 130.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.86 130.10 Td (decreased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.27 130.10 Td ( by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.27 130.10 Td ($849.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.17 130.10 Td ( as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (compared to the same period in the prior year) Tj ET Q q 0 0 0 rg BT 231.60 118.10 Td (. ) Tj ET Q q 0 0 0 rg BT 236.42 118.10 Td (This ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.70 118.10 Td (decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.11 118.10 Td ( is primarily due to our repayment of the remaining balances on our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (debt in the current period.) Tj ET Q endstream endobj 67 0 obj <> endobj 68 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (31) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 71.00 742.10 Td (Distributions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 718.10 Td (In order to meet the requirements for being treated as a REIT) Tj ET Q q 0 0 0 rg BT 312.44 718.10 Td ( under the Internal Revenue Code of 1986, as amended, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (to pay regular cash distributions to our stockholders, which is one of our investment objectives, we have declared distributions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (to stockholders \(as authorized by our board of directors\) as of daily record dates and aggregate through June 2016 and have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (paid such distributions quarterly) Tj ET Q q 0 0 0 rg BT 178.50 682.10 Td (. ) Tj ET Q q 0 0 0 rg BT 183.32 682.10 Td (W) Tj ET Q q 0 0 0 rg BT 192.35 682.10 Td (ith the authorization of our board of directors, we declared distributions for the period from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (January ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 83.60 670.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.60 670.10 Td ( through June ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.54 670.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 180.54 670.10 Td (. ) Tj ET Q q 0 0 0 rg BT 185.36 670.10 Td (These distributions were calculated based on stockholders of record each day during this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (period in an amount equal to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.19 658.10 Td ($0.00073973) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.69 658.10 Td ( per share, per day and were paid on the first day of the month following the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (quarter to which they relate in cash, or) Tj ET Q q 0 0 0 rg BT 203.43 646.10 Td (, with respect to distributions paid for the three months ended March 31, 2016, reinvested ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (in stock for those participating in our dividend reinvestment plan. On May 31, 2016, our board of directors voted to suspend ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (indefinitely our dividend reinvestment plan ef) Tj ET Q q 0 0 0 rg BT 233.38 622.10 Td (fective as of June30, 2016. ) Tj ET Q q 0 0 0 rg BT 347.52 622.10 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 396.86 622.10 Td (, all distributions for the three months ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (ended June30, 2016 were paid in cash. In connection with the Plan of Liquidation, we determined to cease paying regular ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (quarterly distributions after the payment of the distributions for the six months ended June 30, 2016.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 574.10 Td (The table below outlines our total distributions declared to stockholders andnoncontrolling interests for each of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (quarters during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.32 562.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.32 562.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.75 562.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.75 562.10 Td (, including the breakout between the distributions paid in cash and those reinvested pursuant to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (our dividend reinvestment plan \(all amounts are in thousands\).) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 476.60 211.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 476.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 476.60 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.50 476.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.50 476.60 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.50 476.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 399.50 476.60 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 476.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 476.60 96.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 446.60 211.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 446.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 446.60 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.50 446.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.50 446.60 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.50 446.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 399.50 446.60 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 446.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 446.60 96.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 386.60 211.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 386.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 386.60 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.50 386.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.50 386.60 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.50 386.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 399.50 386.60 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 386.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 386.60 96.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 356.60 211.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 356.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 356.60 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.50 356.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.50 356.60 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.50 356.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 399.50 356.60 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 356.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 356.60 96.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 326.60 211.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 326.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 326.60 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.50 326.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.50 326.60 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.50 326.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 399.50 326.60 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 326.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 326.60 96.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 515.6 m 328.5 515.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 328.5 515.6 m 332.5 515.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 515.6 m 395.5 515.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 395.5 515.6 m 399.5 515.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 515.6 m 462.5 515.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 515.6 m 562.5 515.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 491.6 m 261.5 491.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 491.6 m 328.5 491.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 491.6 m 395.5 491.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 491.6 m 462.5 491.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 491.6 m 562.5 491.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 491.6 m 261.5 491.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 476.6 m 261.5 476.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 476.6 m 261.5 476.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 431.6 m 328.5 431.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 431.6 m 395.5 431.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 431.6 m 462.5 431.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 431.6 m 562.5 431.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 417.6 m 328.5 417.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 415.6 m 328.5 415.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 417.6 m 395.5 417.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 415.6 m 395.5 415.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 417.6 m 462.5 417.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 415.6 m 462.5 415.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 417.6 m 562.5 417.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 415.6 m 562.5 415.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 386.6 m 261.5 386.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 386.6 m 261.5 386.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 326.6 m 328.5 326.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 326.6 m 395.5 326.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 326.6 m 462.5 326.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 326.6 m 562.5 326.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 312.6 m 328.5 312.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 310.6 m 328.5 310.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 312.6 m 395.5 312.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 310.6 m 395.5 310.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 312.6 m 462.5 312.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 310.6 m 462.5 310.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 312.6 m 562.5 312.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 310.6 m 562.5 310.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 520.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 335.70 520.28 Td (Stockholders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.00 520.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 481.85 530.28 Td (Noncontrolling) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 495.45 520.28 Td (Interests) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 496.28 Td (Distributions for the Three Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 285.65 506.28 Td (Cash) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 268.40 496.28 Td (Distributions) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 335.40 506.28 Td (Distributions) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 340.15 496.28 Td (Reinvested) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.55 506.28 Td (Total) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 411.40 496.28 Td (Declared) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.00 496.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.75 496.28 Td (Total Declared) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 481.28 Td (2016 ) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 75.50 485.81 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.00 481.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.00 481.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.00 481.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.00 481.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.00 481.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 466.27 Td (September 30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.00 466.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.65 466.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.00 466.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.65 466.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.00 466.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 466.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.00 466.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 466.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 451.27 Td (June 30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.15 451.27 Td (14,920) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.65 451.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 451.27 Td (14,920) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 451.27 Td (74) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 436.27 Td (March 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.15 436.27 Td (9,626) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 436.27 Td (5,326) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 436.27 Td (14,952) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 436.27 Td (75) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 421.27 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.00 421.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.15 421.27 Td (24,546) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.00 421.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 421.27 Td (5,326) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.00 421.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 421.27 Td (29,872) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.00 421.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 421.27 Td (149) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 391.28 Td (2015 ) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 75.50 395.81 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.00 391.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.00 391.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.00 391.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.00 391.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 376.27 Td (December 31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.00 376.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.15 376.27 Td (9,717) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.00 376.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 376.27 Td (5,426) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.00 376.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 376.27 Td (15,143) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.00 376.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 376.27 Td (75) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 361.27 Td (September 30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.15 361.27 Td (9,731) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 361.27 Td (5,445) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 361.27 Td (15,176) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 361.27 Td (76) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 346.27 Td (June 30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.15 346.27 Td (9,645) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 346.27 Td (5,416) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 346.27 Td (15,061) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 346.27 Td (74) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 331.27 Td (March 31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.15 331.27 Td (9,507) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 331.27 Td (5,424) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 331.27 Td (14,931) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 331.27 Td (74) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 316.27 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.00 316.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.15 316.27 Td (38,600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.00 316.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 316.27 Td (21,711) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.00 316.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 316.27 Td (60,311) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.00 316.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 316.27 Td (299) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 288.10 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 288.10 Td (Excluded from this table are distributions declared with respect to the Participation Interest \(as discussed further in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 276.10 Td (Note 9 Related Party ) Tj ET Q q 0 0 0 rg BT 184.41 276.10 Td (T) Tj ET Q q 0 0 0 rg BT 190.17 276.10 Td (ransactions\). ) Tj ET Q q 0 0 0 rg BT 243.30 276.10 Td (The distributions declared with respect to the Participation Interest for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 264.10 Td (quarters ended June 30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.91 264.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.91 264.10 Td (, March 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.51 264.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.51 264.10 Td (, December 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.10 264.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.10 264.10 Td (, September 30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.36 264.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.36 264.10 Td (, June 30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.19 264.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.19 264.10 Td ( and March 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 252.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 106.00 252.10 Td ( were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.43 252.10 Td ($1.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.32 252.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.32 252.10 Td ($1.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.21 252.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.21 252.10 Td ($1.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.10 252.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.10 252.10 Td ($1.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.00 252.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 252.10 Td ($1.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.89 252.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.33 252.10 Td ($1.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.22 252.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 515.88 252.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 228.10 Td (For the six months ended June30, 2016, we funded our cash distributions with cash flows from operating activities \() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.87 228.10 Td (31%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.20 228.10 Td (\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 216.10 Td (and the remaining cash distributions were funded from distributions from unconsolidated entities, proceeds from the sales of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 204.10 Td (our real estate investments and excess undistributed cash flows from prior periods \() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.80 204.10 Td (69%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.13 204.10 Td (\). For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.57 204.10 Td (nine months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.11 204.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 192.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.26 192.10 Td (, we funded our cash distributions with cash flows from operating activities \() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.70 192.10 Td (91%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.03 192.10 Td (\) and proceeds from the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 180.10 Td (sales of our real estate investments \() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.95 180.10 Td (9%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.28 180.10 Td (\). ) Tj ET Q endstream endobj 69 0 obj <> endobj 70 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (32) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 742.10 Td (Redemptions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 718.10 Td (During the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.55 718.10 Td (nine months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.09 718.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.59 718.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.85 718.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.29 718.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.29 718.10 Td (, we funded redemptions of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.48 718.10 Td ($14.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.38 718.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.81 718.10 Td ($26.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.71 718.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 97.66 706.10 Td (, pursuant to the terms of our share redemption program. Generally) Tj ET Q q 0 0 0 rg BT 365.26 706.10 Td (, funds available for redemption are limited to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (the amount of proceeds received from our dividend reinvestment plan in the prior quarter) Tj ET Q q 0 0 0 rg BT 406.27 694.10 Td (.However) Tj ET Q q 0 0 0 rg BT 447.52 694.10 Td (, our board of directors has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (the discretion to redeem shares in excess of this amount if it determines there are suf) Tj ET Q q 0 0 0 rg BT 387.76 682.10 Td (ficient available funds and it is appropriate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (to do so as long as the total amount redeemed does not exceed the amount required to redeem 10% of our shares outstanding as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (of the same date in the prior calendar year) Tj ET Q q 0 0 0 rg BT 217.70 658.10 Td (. Our board of directors determined to waive this limitation on the share redemption ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (plan and fully honor all eligible requests received through the first quarter of 2016, which were in excess of the $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.36 646.10 Td (5.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.25 646.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (received from our dividend reinvestment plan in the prior quarter) Tj ET Q q 0 0 0 rg BT 310.19 634.10 Td (. On May 31, 2016, our board of directors determined to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (suspend indefinitely our share redemption program ef) Tj ET Q q 0 0 0 rg BT 264.76 622.10 Td (fective as of June30, 2016. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 598.10 Td (Debt Financings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 574.10 Td (W) Tj ET Q q 0 0 0 rg BT 76.64 574.10 Td (e use debt financing from time to time for investments in real property) Tj ET Q q 0 0 0 rg BT 357.58 574.10 Td (, property improvements, tenant improvements, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (leasing commissions and other working capital needs. Most of our debt was in the form of secured mortgage loans, which we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (entered into at the time each real estate asset was acquired. ) Tj ET Q q 0 0 0 rg BT 287.49 550.10 Td (W) Tj ET Q q 0 0 0 rg BT 296.12 550.10 Td (e had no outstanding notes payable as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.53 550.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.79 550.10 Td ( with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (respect to our directly-held properties, but due to debt on properties owned by the Core Fund, our portfolio was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.95 538.10 Td (6%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.28 538.10 Td ( leveraged ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.66 526.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.92 526.10 Td (, with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.20 526.10 Td (68%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.53 526.10 Td ( of the debt in the form of fixed-rate mortgage loans. By comparison, our portfolio was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (37%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.33 514.10 Td ( leveraged as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.85 514.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.44 514.10 Td (, with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.71 514.10 Td (53%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.04 514.10 Td ( of our debt in the form of fixed-rate mortgage loans.) Tj ET Q q 0 0 0 rg BT 470.24 514.10 Td (This leverage ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (percentage is calculated using the estimated aggregate value of our real estate investments \(including our pro-rata share of real ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (estate assets through our investments in other entities such as the Core Fund\), cash and cash equivalents and restricted cash on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (hand as of that date.) Tj ET Q q 0 0 0 rg BT 134.70 478.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 184.60 478.10 Td (, as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.26 478.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.84 478.10 Td (, our debt financing had a weighted average interest rate of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.52 478.10 Td (3.9%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.35 478.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (\(including the ef) Tj ET Q q 0 0 0 rg BT 115.91 466.10 Td (fect of interest rate swaps\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 442.10 Td (The following list summarizes our debt financings for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 442.10 Td (nine months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.54 442.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.04 442.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.31 442.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.75 442.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.75 442.10 Td (:) Tj ET Q BT /F3 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 68 416.7669921875 m 88 416.7669921875 l s q 0 0 0 rg BT 68.00 418.10 Td (2016) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 88.00 418.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 68.00 400.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 400.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 400.10 Td (e made payments of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.39 400.10 Td ($100.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.28 400.10 Td ( to pay down the JPMor) Tj ET Q q 0 0 0 rg BT 331.93 400.10 Td (gan Chase ) Tj ET Q q 0 0 0 rg BT 375.62 400.10 Td (T) Tj ET Q q 0 0 0 rg BT 381.03 400.10 Td (ower secured mortgage debt in January ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 388.10 Td (2016. In ) Tj ET Q q 0 0 0 rg BT 121.28 388.10 Td (August 2016, we made payments of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.64 388.10 Td ($48.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.53 388.10 Td ( to fully pay down the JPMor) Tj ET Q q 0 0 0 rg BT 438.57 388.10 Td (gan Chase ) Tj ET Q q 0 0 0 rg BT 482.26 388.10 Td (T) Tj ET Q q 0 0 0 rg BT 487.67 388.10 Td (ower secured ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 376.10 Td (mortgage loan with proceeds from the sale of JPMor) Tj ET Q q 0 0 0 rg BT 296.32 376.10 Td (gan Chase ) Tj ET Q q 0 0 0 rg BT 340.02 376.10 Td (T) Tj ET Q q 0 0 0 rg BT 345.43 376.10 Td (ower) Tj ET Q q 0 0 0 rg BT 364.87 376.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 358.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 358.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 358.10 Td (e made payments of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.39 358.10 Td ($36.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.28 358.10 Td ( to fully pay down the 1515 S. Street secured mortgage loan with proceeds from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 346.10 Td (the sale in ) Tj ET Q q 0 0 0 rg BT 128.49 346.10 Td (April 2016. ) Tj ET Q q 0 0 0 rg BT 176.92 346.10 Td (W) Tj ET Q q 0 0 0 rg BT 185.56 346.10 Td (e incurred a prepayment penalty of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.71 346.10 Td ($0.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.61 346.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 328.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 328.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 328.10 Td (e made payments of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.39 328.10 Td ($14.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.28 328.10 Td ( to fully pay down the 345 Inverness Drive secured mortgage loan with proceeds ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 316.10 Td (from the sale in May 2016. ) Tj ET Q q 0 0 0 rg BT 196.63 316.10 Td (W) Tj ET Q q 0 0 0 rg BT 205.27 316.10 Td (e incurred a prepayment penalty of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.43 316.10 Td ($0.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.32 316.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 298.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 298.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 298.10 Td (e made payments of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.39 298.10 Td ($18.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.28 298.10 Td ( to fully pay down the outstanding debt balance with Deutsche Bank related to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 286.10 Td (3400 Data Drive in July 2016. ) Tj ET Q q 0 0 0 rg BT 209.41 286.10 Td (W) Tj ET Q q 0 0 0 rg BT 218.05 286.10 Td (e made a payment of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.85 286.10 Td ($0.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.74 286.10 Td ( to settle the interest rate swap contract related to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 274.10 Td (3400 Data Drive.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 256.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 256.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 256.10 Td (e made payments of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.39 256.10 Td ($4.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.28 256.10 Td ( to fully pay down the ) Tj ET Q q 0 0 0 rg BT 316.64 256.10 Td (Thompson Bridge Commons secured mortgage loan with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 244.10 Td (proceeds from the sale in ) Tj ET Q q 0 0 0 rg BT 188.47 244.10 Td (August 2016. ) Tj ET Q q 0 0 0 rg BT 244.68 244.10 Td (W) Tj ET Q q 0 0 0 rg BT 253.31 244.10 Td (e incurred a prepayment penalty of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.47 244.10 Td ($0.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.36 244.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 226.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 226.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 226.10 Td (e made payments of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.39 226.10 Td ($169.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.28 226.10 Td ( to fully pay down the outstanding debt balance with Deutsche Bank related to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 214.10 Td (321 North Clark and 1900 and 2000 ) Tj ET Q q 0 0 0 rg BT 232.37 214.10 Td (Alameda in ) Tj ET Q q 0 0 0 rg BT 280.69 214.10 Td (August 2016. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 196.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 196.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 196.10 Td (e made payments of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.39 196.10 Td ($198.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.28 196.10 Td ( to fully pay down the outstanding debt balance with Deutsche Bank related to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 184.10 Td (2100 Powell, Daytona and Laguna Buildings in ) Tj ET Q q 0 0 0 rg BT 278.20 184.10 Td (August 2016. ) Tj ET Q q 0 0 0 rg BT 334.41 184.10 Td (W) Tj ET Q q 0 0 0 rg BT 343.05 184.10 Td (e made a payment of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.85 184.10 Td ($4.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.74 184.10 Td ( to settle the interest ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 172.10 Td (rate swap contract related to 2100 Powell, Daytona and Laguna Buildings.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 154.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 154.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 154.10 Td (e received proceeds of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.81 154.10 Td ($280.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.70 154.10 Td ( under a revolving credit facility \(the Revolving Loan Commitment\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 142.10 Td (pursuant to a credit agreement with JPMor) Tj ET Q q 0 0 0 rg BT 256.33 142.10 Td (gan Chase Bank, N.A. \(Chase\) and we made payments of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.65 142.10 Td ($342.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.54 142.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 130.10 Td (to fully pay down the balance on the Revolving Loan Commitment. Of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.05 130.10 Td ($342.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.94 130.10 Td ( payments made, $210.0 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 118.10 Td (million were proceeds from the sale of JPMor) Tj ET Q q 0 0 0 rg BT 269.38 118.10 Td (gan Chase ) Tj ET Q q 0 0 0 rg BT 313.08 118.10 Td (T) Tj ET Q q 0 0 0 rg BT 318.49 118.10 Td (ower and $15.0 million were proceeds from the sale of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 106.10 Td (seven) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.77 106.10 Td ( of the Grocery-Anchored Portfolio properties.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 88.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 88.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 88.10 Td (e also made payments of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.00 88.10 Td ($200.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.89 88.10 Td ( to fully pay down the balance on the JPMor) Tj ET Q q 0 0 0 rg BT 432.17 88.10 Td (gan Chase Revolving Credit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 76.10 Td (Facility - ) Tj ET Q q 0 0 0 rg BT 124.70 76.10 Td (T) Tj ET Q q 0 0 0 rg BT 130.11 76.10 Td (erm Loan with proceeds from the sale of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.05 76.10 Td (seven) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.82 76.10 Td ( of the Grocery-Anchored Portfolio properties and 321 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 64.10 Td (North Clark.) Tj ET Q endstream endobj 71 0 obj <> endobj 72 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (33) Tj ET Q BT /F3 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 68 740.7669921875 m 88 740.7669921875 l s q 0 0 0 rg BT 68.00 742.10 Td (2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 88.00 742.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 724.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 724.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 724.10 Td (e received proceeds of $30.0 million related to our Bridge Credit ) Tj ET Q q 0 0 0 rg BT 355.67 724.10 Td (Agreement \(the Bridge Credit ) Tj ET Q q 0 0 0 rg BT 481.74 724.10 Td (Agreement\) with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 712.10 Td (Chase to fund our acquisition of Civica Of) Tj ET Q q 0 0 0 rg BT 256.06 712.10 Td (fice Commons. ) Tj ET Q q 0 0 0 rg BT 319.49 712.10 Td (W) Tj ET Q q 0 0 0 rg BT 328.12 712.10 Td (e made a payment of $30.0 million to fully pay down this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 700.10 Td (financing in July 2015.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 682.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 682.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 682.10 Td (e received proceeds of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.81 682.10 Td ($268.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.70 682.10 Td ( under the Revolving Loan Commitment and we made payments of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.58 682.10 Td ($245.6 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 670.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.89 670.10 Td ( in February 2015 related to this agreement.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 652.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 652.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 652.10 Td (e made payments of $9.1 million to fully pay down the ) Tj ET Q q 0 0 0 rg BT 316.27 652.10 Td (Arapahoe Business Park I secured mortgage loan in ) Tj ET Q q 0 0 0 rg BT 525.10 652.10 Td (April ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 640.10 Td (2015.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 622.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 622.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 622.10 Td (e made payments of $9.5 million to fully pay down the ) Tj ET Q q 0 0 0 rg BT 316.27 622.10 Td (Arapahoe Business Park II secured mortgage loan in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 610.10 Td (September 2015.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 592.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 592.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 592.10 Td (e made payments of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.39 592.10 Td ($0.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.28 592.10 Td ( for financing costs related to our loans.) Tj ET Q endstream endobj 73 0 obj <> endobj 74 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (34) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 68.00 742.25 Td (Results of Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.25 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 68.00 718.25 Td (RESUL) Tj ET Q q 0 0 0 rg BT 100.43 718.25 Td (TS OF) Tj ET Q q 0 0 0 rg BT 128.67 718.25 Td ( OUR DIRECTL) Tj ET Q q 0 0 0 rg BT 200.54 718.25 Td (Y) Tj ET Q q 0 0 0 rg BT 206.85 718.25 Td (-OWNED PROPER) Tj ET Q q 0 0 0 rg BT 292.33 718.25 Td (TIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 694.25 Td (W) Tj ET Q q 0 0 0 rg BT 76.64 694.25 Td (e directly owned ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.78 694.25 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.78 694.25 Td ( same-store properties as of January 1, 2015 that were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.76 694.25 Td (89%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.09 694.25 Td ( leased as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.74 694.25 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.00 694.25 Td ( as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.20 682.25 Td (87%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.53 682.25 Td ( leased as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.18 682.25 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.44 682.25 Td (. ) Tj ET Q q 0 0 0 rg BT 257.26 682.25 Td (The table below includes revenues and expenses of our directly-owned ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (properties for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 121.36 670.25 Td (three and nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.00 670.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.83 670.25 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.09 670.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.53 670.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.53 670.25 Td (. Disposed properties include the results of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (operations of properties that were sold, but whose results were not classified as discontinued operations \(all amounts in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (thousands, except for percentages\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 591.75 204.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.50 591.75 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 333.50 591.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 591.75 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 591.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 591.75 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 591.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 591.75 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 561.75 204.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.50 561.75 79.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 333.50 561.75 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 561.75 79.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 561.75 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 561.75 57.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 561.75 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 561.75 63.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 507.75 204.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.50 507.75 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 333.50 507.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 507.75 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 507.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 507.75 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 507.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 507.75 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 477.75 204.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.50 477.75 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 333.50 477.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 477.75 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 477.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 477.75 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 477.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 477.75 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 447.75 204.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.50 447.75 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 333.50 447.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 447.75 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 447.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 447.75 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 447.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 447.75 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 417.75 204.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.50 417.75 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 333.50 417.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 417.75 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 417.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 417.75 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 417.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 417.75 63.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 620.75 m 333.5 620.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 333.5 620.75 m 337.5 620.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 620.75 m 416.5 620.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 620.75 m 477.5 620.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 620.75 m 481.5 620.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 620.75 m 544.5 620.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 605.75 m 333.5 605.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 605.75 m 416.5 605.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 620.75 m 477.5 620.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 605.75 m 477.5 605.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 620.75 m 481.5 620.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 620.75 m 544.5 620.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 605.75 m 544.5 605.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 561.75 m 477.5 561.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 561.75 m 544.5 561.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 561.75 m 333.5 561.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 538.75 m 333.5 538.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 536.75 m 333.5 536.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 561.75 m 416.5 561.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 538.75 m 416.5 538.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 536.75 m 416.5 536.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 538.75 m 477.5 538.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 536.75 m 477.5 536.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 538.75 m 544.5 538.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 536.75 m 544.5 536.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 625.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 257.80 625.43 Td (Three Months Ended September 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.60 625.43 Td (Change) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 610.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 283.50 610.43 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 366.50 610.43 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.00 610.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 507.50 610.43 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 596.43 Td (Pr) Tj ET Q q 0 0 0 rg BT 63.37 596.43 Td (operty r) Tj ET Q q 0 0 0 rg BT 97.89 596.43 Td (evenues in excess of expenses) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 221.21 600.96 Td ( \(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 581.42 Td ( Same-store properties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.00 581.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.15 581.42 Td (20,865) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.00 581.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.15 581.42 Td (17,505) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.00 581.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.15 581.42 Td (3,360) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.80 581.42 Td (19.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 581.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 566.42 Td ( Disposed properties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.15 566.42 Td (6,959) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.15 566.42 Td (13,718) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.80 566.47 Td (\(6,759) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 566.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.45 566.42 Td (\(49.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 566.42 Td (\)%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 65.00 552.43 Td (Total property revenues in excess of) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 65.00 542.43 Td (expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.00 542.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.15 542.42 Td (27,824) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.00 542.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.15 542.42 Td (31,223) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.00 542.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.80 542.47 Td (\(3,399) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 542.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.45 542.42 Td (\(10.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 542.42 Td (\)%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 512.43 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.00 512.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.00 512.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 497.42 Td (Depreciation and amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.00 497.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.65 497.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.00 497.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.15 497.42 Td (21,491) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.00 497.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.80 497.47 Td (\(21,491) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 497.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.45 497.42 Td (\(100.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 497.42 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 482.42 Td (Transaction expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.00 482.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.65 482.42 Td (928) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.00 482.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 482.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.00 482.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 482.42 Td (928) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.75 482.42 Td (100.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 482.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 467.42 Td (Impairment losses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.00 467.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.15 467.42 Td (6,909) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.00 467.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.15 467.42 Td (16,033) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.00 467.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.80 467.47 Td (\(9,124) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 467.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.45 467.42 Td (\(56.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 467.42 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 452.42 Td (Gain \(loss\) on derivative instruments, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.00 452.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.15 452.42 Td (3,913) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.00 452.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.15 452.42 Td (3,922) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.00 452.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.30 452.47 Td (\(9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 452.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.45 452.42 Td (\(0.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 452.42 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 437.42 Td (Gain \(loss\) on settlement of debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.00 437.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.30 437.47 Td (\(380) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.65 437.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.00 437.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 437.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.00 437.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.30 437.47 Td (\(380) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 437.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.75 437.42 Td (100.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 437.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 422.42 Td (Gain \(loss\) on sale of real estate investments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.00 422.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.15 422.42 Td (173,344) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.00 422.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.15 422.42 Td (20,711) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.00 422.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.15 422.42 Td (152,633) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.75 422.42 Td (737.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 422.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 407.42 Td (Interest expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.00 407.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.15 407.42 Td (4,380) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.00 407.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.15 407.42 Td (9,397) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.00 407.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.80 407.47 Td (\(5,017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 407.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.45 407.42 Td (\(53.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 407.42 Td (\)%) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 348.75 204.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.50 348.75 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 333.50 348.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 348.75 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 348.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 348.75 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 348.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 348.75 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 318.75 204.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.50 318.75 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 333.50 318.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 318.75 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 318.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 318.75 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 318.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 318.75 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 249.75 204.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.50 249.75 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 333.50 249.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 249.75 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 249.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 249.75 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 249.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 249.75 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 219.75 204.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.50 219.75 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 333.50 219.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 219.75 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 219.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 219.75 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 219.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 219.75 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 189.75 204.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.50 189.75 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 333.50 189.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 189.75 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 189.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 189.75 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 189.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 189.75 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 159.75 204.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.50 159.75 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 333.50 159.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 159.75 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 159.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 159.75 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 159.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 159.75 63.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 377.75 m 333.5 377.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 333.5 377.75 m 337.5 377.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 377.75 m 416.5 377.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 377.75 m 477.5 377.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 377.75 m 481.5 377.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 377.75 m 544.5 377.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 362.75 m 333.5 362.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 362.75 m 416.5 362.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 362.75 m 477.5 362.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 362.75 m 544.5 362.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 303.75 m 544.5 303.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 303.75 m 333.5 303.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 280.75 m 333.5 280.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 278.75 m 333.5 278.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 303.75 m 416.5 303.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 280.75 m 416.5 280.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 278.75 m 416.5 278.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 303.75 m 477.5 303.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 280.75 m 477.5 280.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 278.75 m 477.5 278.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 280.75 m 544.5 280.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 278.75 m 544.5 278.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 382.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 260.50 382.43 Td (Nine Months Ended September 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.60 382.43 Td (Change) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 367.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 283.50 367.43 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 366.50 367.43 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.00 367.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 507.50 367.43 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 353.43 Td (Pr) Tj ET Q q 0 0 0 rg BT 63.37 353.43 Td (operty r) Tj ET Q q 0 0 0 rg BT 97.89 353.43 Td (evenues in excess of expenses ) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 223.71 357.96 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 338.42 Td ( Same-store properties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.00 338.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.15 338.42 Td (44,839) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.00 338.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.15 338.42 Td (40,714) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.00 338.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.15 338.42 Td (4,125) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.80 338.42 Td (10.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 338.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 323.42 Td ( Recent acquisitions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.15 323.42 Td (12,144) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.15 323.42 Td (8,971) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.15 323.42 Td (3,173) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.80 323.42 Td (35.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 323.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 308.42 Td ( Disposed properties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.15 308.42 Td (26,694) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.15 308.42 Td (42,465) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.80 308.47 Td (\(15,771) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 308.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.45 308.42 Td (\(37.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 308.42 Td (\)%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 65.00 294.43 Td (Total property revenues in excess of) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 65.00 284.43 Td (expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.00 284.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.15 284.42 Td (83,677) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.00 284.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.15 284.42 Td (92,150) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.00 284.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.80 284.47 Td (\(8,473) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 284.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.45 284.42 Td (\(9.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 284.42 Td (\)%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 254.43 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.00 254.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.00 254.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 239.42 Td (Depreciation and amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.00 239.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.15 239.42 Td (38,190) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.00 239.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.15 239.42 Td (66,782) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.00 239.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.80 239.47 Td (\(28,592) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 239.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.45 239.42 Td (\(42.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 239.42 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 224.42 Td (Transaction expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.00 224.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.15 224.42 Td (4,391) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.00 224.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 224.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.00 224.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.15 224.42 Td (4,391) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.75 224.42 Td (100.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 224.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 209.42 Td (Impairment losses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.00 209.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.15 209.42 Td (30,372) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.00 209.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.15 209.42 Td (16,033) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.00 209.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.15 209.42 Td (14,339) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.80 209.42 Td (89.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 209.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 194.42 Td (Gain \(loss\) on derivative instruments, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.00 194.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.15 194.42 Td (12,311) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.00 194.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.15 194.42 Td (11,449) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.00 194.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 194.42 Td (862) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.80 194.42 Td (7.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 194.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 179.42 Td (Gain \(loss\) on settlement of debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.00 179.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.30 179.47 Td (\(978) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.65 179.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.00 179.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 179.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.00 179.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.30 179.47 Td (\(978) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 179.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.75 179.42 Td (100.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 179.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 164.42 Td (Gain \(loss\) on sale of real estate investments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.00 164.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.15 164.42 Td (209,774) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.00 164.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.15 164.42 Td (50,094) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.00 164.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.15 164.42 Td (159,680) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.75 164.42 Td (318.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 164.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 149.42 Td (Interest expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.00 149.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.15 149.42 Td (21,202) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.00 149.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.15 149.42 Td (28,717) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.00 149.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.80 149.47 Td (\(7,515) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 149.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.45 149.42 Td (\(26.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 149.42 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 121.25 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 121.25 Td (Property revenues in excess of expenses include total revenues less property operating expenses, real property taxes, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 109.25 Td (and property management fees.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 85.25 Td (The increase in property revenues in excess of expenses for the same-store properties for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.35 85.25 Td (three and nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.99 85.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 73.25 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.26 73.25 Td ( is primarily due to an increase in leasing activity) Tj ET Q q 0 0 0 rg BT 326.50 73.25 Td (.) Tj ET Q endstream endobj 75 0 obj <> endobj 76 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 742.10 Td (Depreciation and amortization decreased during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.36 742.10 Td (three and nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.00 742.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.82 742.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.08 742.10 Td (, as compared to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (same periods in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 115.26 730.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.26 730.10 Td (, primarily due to the sale of several properties during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.70 730.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.70 730.10 Td ( and the sale of 1515 S. Street in ) Tj ET Q q 0 0 0 rg BT 504.34 730.10 Td (April 2016, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (345 Inverness Drive and ) Tj ET Q q 0 0 0 rg BT 149.98 718.10 Td (Arapahoe Business Park in May ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.34 718.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.34 718.10 Td (, 3400 Data Drive in July 2016, JPMor) Tj ET Q q 0 0 0 rg BT 456.43 718.10 Td (gan Chase ) Tj ET Q q 0 0 0 rg BT 500.13 718.10 Td (T) Tj ET Q q 0 0 0 rg BT 505.54 718.10 Td (ower) Tj ET Q q 0 0 0 rg BT 525.13 718.10 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (seven of the Grocery-Anchored Portfolio properties and 321 North Clark in ) Tj ET Q q 0 0 0 rg BT 354.09 706.10 Td (August 2016. ) Tj ET Q q 0 0 0 rg BT 409.93 706.10 Td (As of June 30, 2016, we determined ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (that all of our directly-owned properties were classified as held for sale, therefore, no depreciation and amortization were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (recorded on these assets during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.18 682.10 Td (three months ended September 30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.25 682.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 658.10 Td (T) Tj ET Q q 0 0 0 rg BT 73.76 658.10 Td (ransaction expenses increased during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.53 658.10 Td (three and nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.17 658.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.99 658.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.26 658.10 Td (, as compared to the same ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (periods in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.22 646.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 112.22 646.10 Td (, primarily due to an increase in legal fees associated with the Plan of Liquidation.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 622.10 Td (Gain on sale of real estate investments increased during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.92 622.10 Td (three and nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.56 622.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.38 622.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 622.10 Td (, as compared ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (to the same periods in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 140.26 610.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.26 610.10 Td ( as a result of the sale of several properties in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.25 610.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.25 610.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 586.10 Td (Interest expense decreased during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.43 586.10 Td (three and nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.07 586.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.90 586.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.16 586.10 Td (, as compared to the same periods ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.28 574.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.28 574.10 Td ( as a result of a decrease in total debt outstanding.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 550.10 Td (For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.11 550.10 Td (third quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.81 550.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.14 550.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.14 550.10 Td (, we determined that our directly-owned properties located in Dallas, ) Tj ET Q q 0 0 0 rg BT 459.64 550.10 Td (T) Tj ET Q q 0 0 0 rg BT 465.05 550.10 Td (exas, Houston, ) Tj ET Q q 0 0 0 rg BT 526.53 550.10 Td (T) Tj ET Q q 0 0 0 rg BT 531.94 550.10 Td (exas ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (and Bellevue, ) Tj ET Q q 0 0 0 rg BT 107.30 538.10 Td (W) Tj ET Q q 0 0 0 rg BT 115.94 538.10 Td (ashington were impaired based on such long-lived assets having carrying values that exceeded their fair values ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (less cost to sell. ) Tj ET Q q 0 0 0 rg BT 114.72 526.10 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 164.06 526.10 Td (, we recorded an impairment char) Tj ET Q q 0 0 0 rg BT 298.26 526.10 Td (ge of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.03 526.10 Td ($6.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.92 526.10 Td ( to write these assets down to fair value for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (three months ended September 30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.07 514.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 490.10 Td (For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.11 490.10 Td (nine months ended September 30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.41 490.10 Td (, we determined that our directly-owned properties located in Melville, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (New ) Tj ET Q q 0 0 0 rg BT 71.01 478.10 Td (Y) Tj ET Q q 0 0 0 rg BT 77.23 478.10 Td (ork, Dallas, ) Tj ET Q q 0 0 0 rg BT 125.93 478.10 Td (T) Tj ET Q q 0 0 0 rg BT 131.34 478.10 Td (exas, Houston, ) Tj ET Q q 0 0 0 rg BT 192.82 478.10 Td (T) Tj ET Q q 0 0 0 rg BT 198.23 478.10 Td (exas and Bellevue, ) Tj ET Q q 0 0 0 rg BT 275.80 478.10 Td (W) Tj ET Q q 0 0 0 rg BT 284.43 478.10 Td (ashington were impaired based on such long-lived assets having ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (carrying values that exceeded their fair values less cost to sell. ) Tj ET Q q 0 0 0 rg BT 301.02 466.10 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 350.36 466.10 Td (, we recorded an impairment char) Tj ET Q q 0 0 0 rg BT 484.56 466.10 Td (ge of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.32 466.10 Td ($30.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 561.22 466.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (to write these assets down to fair value for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.61 454.10 Td (nine months ended September 30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.92 454.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 430.10 Td (As a result of future expected disposals in accordance with the Plan of Liquidation and other factors, our results of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (operations for the period ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.46 418.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.72 418.10 Td ( could dif) Tj ET Q q 0 0 0 rg BT 295.86 418.10 Td (fer from our results of operations in future periods.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 68.00 394.10 Td (RESUL) Tj ET Q q 0 0 0 rg BT 100.43 394.10 Td (TS FOR OUR INDIRECTL) Tj ET Q q 0 0 0 rg BT 219.25 394.10 Td (Y) Tj ET Q q 0 0 0 rg BT 225.55 394.10 Td (-OWNED PROPER) Tj ET Q q 0 0 0 rg BT 311.03 394.10 Td (TIES) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 68.00 370.10 Td (Our Interest in the Core Fund) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 346.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.44 346.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.71 346.10 Td (, we owned a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.97 346.10 Td (28.8%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.80 346.10 Td (non-managing general partner interest in the Core Fund, which held ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (interests in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.10 334.10 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.10 334.10 Td ( properties that were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.51 334.10 Td (86%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.84 334.10 Td ( leased. ) Tj ET Q q 0 0 0 rg BT 235.78 334.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.22 334.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.48 334.10 Td (, we owned a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.74 334.10 Td (28.8%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.57 334.10 Td ( non-managing general partner ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (interest in the Core Fund, which held interests in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.19 322.10 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.19 322.10 Td ( properties that were) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.60 322.10 Td (81%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.93 322.10 Td ( leased. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 298.10 Td (Our equity in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.83 298.10 Td (losses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.72 298.10 Td ( related to our investment in the Core Fund for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.28 298.10 Td (three months ended September 30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.36 298.10 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.91 298.10 Td ($7.9 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 286.10 Td (, compared to equity in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.87 286.10 Td (losses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.76 286.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.09 286.10 Td ($5.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.98 286.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.36 286.10 Td (three months ended September 30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.43 286.10 Td (. Our equity in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.26 286.10 Td (losses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.15 286.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (related to our investment in the Core Fund for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.06 274.10 Td (nine months ended September 30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.37 274.10 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.92 274.10 Td ($0.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.81 274.10 Td (, compared to equity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.28 262.10 Td (earnings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 94.16 262.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 107.49 262.10 Td ($27.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.38 262.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.75 262.10 Td (nine months ended September 30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.06 262.10 Td (. ) Tj ET Q q 0 0 0 rg BT 355.88 262.10 Td (The change in our equity in earnings \(losses\) for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.72 250.10 Td (three and nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 121.36 250.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.18 250.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.45 250.10 Td ( primarily resulted from the following:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 226.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 226.10 Td (In January 2016, the Core Fund sold ) Tj ET Q q 0 0 0 rg BT 234.13 226.10 Td (The Carillon Building for a sales price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.31 226.10 Td ($147.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.20 226.10 Td (. ) Tj ET Q q 0 0 0 rg BT 465.02 226.10 Td (The Carillon Building ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 214.10 Td (was acquired in July 2007 for a purchase price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.38 214.10 Td ($140.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.27 214.10 Td (. ) Tj ET Q q 0 0 0 rg BT 348.71 214.10 Td (As a result of the sale, we recognized a gain on sale ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 202.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.83 202.10 Td ($14.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.72 202.10 Td (, which is included in equity in earnings \(losses\) of unconsolidated entities, net, in the condensed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 190.10 Td (consolidated statements of operations and comprehensive income \(loss\) for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.24 190.10 Td (nine months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.78 190.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.28 190.10 Td (September30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 178.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 106.00 178.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 154.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 154.10 Td (In March 2016, the Core Fund sold 525 B Street for a sales price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.16 154.10 Td ($122.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.05 154.10 Td (. 525 B Street was acquired in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 142.10 Td (August 2005 for a purchase price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.34 142.10 Td ($1) Tj ET Q q 0 0 0 rg BT 241.97 142.10 Td (16.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.86 142.10 Td (. ) Tj ET Q q 0 0 0 rg BT 295.31 142.10 Td (As a result of the sale, we recognized a gain on sale of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.23 142.10 Td ($3.6 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 130.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.89 130.10 Td (, which is included in equity in earnings \(losses\) of unconsolidated entities, net, in the condensed consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 118.10 Td (statements of operations and comprehensive income \(loss\) for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.20 118.10 Td (nine months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.74 118.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.24 118.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.51 118.10 Td (.) Tj ET Q endstream endobj 77 0 obj <> endobj 78 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 742.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 742.10 Td (In January 2015, a subsidiary of the Core Fund sold its remaining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.68 742.10 Td (51%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.01 742.10 Td ( interest in the entity that owns One North ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 730.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 730.10 Td (acker for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 132.94 730.10 Td ($240.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.83 730.10 Td (. ) Tj ET Q q 0 0 0 rg BT 196.65 730.10 Td (The Core Fund previously sold a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.53 730.10 Td (49%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.86 730.10 Td ( noncontrolling interest in One North ) Tj ET Q q 0 0 0 rg BT 499.76 730.10 Td (W) Tj ET Q q 0 0 0 rg BT 508.40 730.10 Td (acker in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 718.10 Td (December 201) Tj ET Q q 0 0 0 rg BT 144.21 718.10 Td (1. One North ) Tj ET Q q 0 0 0 rg BT 199.02 718.10 Td (W) Tj ET Q q 0 0 0 rg BT 207.66 718.10 Td (acker was acquired in March 2008 for a purchase price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.61 718.10 Td ($540.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 718.10 Td (. ) Tj ET Q q 0 0 0 rg BT 503.95 718.10 Td (As a result of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 706.10 Td (the sale of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.31 706.10 Td (51%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.64 706.10 Td ( interest in One North ) Tj ET Q q 0 0 0 rg BT 252.16 706.10 Td (W) Tj ET Q q 0 0 0 rg BT 260.80 706.10 Td (acker) Tj ET Q q 0 0 0 rg BT 282.04 706.10 Td (, we recognized a gain on sale of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.60 706.10 Td ($34.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.49 706.10 Td (, which is included in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 694.10 Td (equity in earnings \(losses\) of unconsolidated entities, net, in the condensed consolidated statements of operations and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 682.10 Td (comprehensive income \(loss\) for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.56 682.10 Td (nine months ended September 30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.87 682.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 658.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 658.10 Td (In ) Tj ET Q q 0 0 0 rg BT 96.28 658.10 Td (April 2015, the Core Fund sold Charlotte Plaza for a sales price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.99 658.10 Td ($160.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.88 658.10 Td (. Charlotte Plaza was acquired in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 646.10 Td (June 2007 for a purchase price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.78 646.10 Td ($175.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.67 646.10 Td (. ) Tj ET Q q 0 0 0 rg BT 285.12 646.10 Td (As a result of the sale of Charlotte Plaza, the Core Fund recognized a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 634.10 Td (gain on sale of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.09 634.10 Td ($27.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.99 634.10 Td (. ) Tj ET Q q 0 0 0 rg BT 205.43 634.10 Td (As a result of the sale, the Company recognized a gain on sale of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.29 634.10 Td ($6.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.19 634.10 Td (, which is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 622.10 Td (included in equity in earnings \(losses\) of unconsolidated entities, net, in the condensed consolidated statements of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 610.10 Td (operations and comprehensive income \(loss\) for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.66 610.10 Td (nine months ended September 30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.96 610.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 586.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 586.10 Td (For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.11 586.10 Td (three months ended September 30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.18 586.10 Td (, the Core Fund recorded impairment losses of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.20 586.10 Td ($30.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.09 586.10 Td ( on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 574.10 Td (Renaissance Square in Phoenix, ) Tj ET Q q 0 0 0 rg BT 215.70 574.10 Td (Arizona and ) Tj ET Q q 0 0 0 rg BT 267.16 574.10 Td (W) Tj ET Q q 0 0 0 rg BT 275.80 574.10 Td (arner Center in ) Tj ET Q q 0 0 0 rg BT 338.09 574.10 Td (W) Tj ET Q q 0 0 0 rg BT 346.73 574.10 Td (oodland Hills, California since such long-lived assets ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 562.10 Td (had carrying values that exceeded their fair values based on a purchase and sale agreement or third-party guidance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 550.10 Td (received during its marketing process. For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.06 550.10 Td (nine months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.60 550.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.10 550.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.37 550.10 Td (, the Core Fund recorded ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 538.10 Td (impairment losses of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.82 538.10 Td ($66.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.71 538.10 Td ( on Renaissance Square in Phoenix, ) Tj ET Q q 0 0 0 rg BT 370.41 538.10 Td (Arizona, ) Tj ET Q q 0 0 0 rg BT 407.44 538.10 Td (W) Tj ET Q q 0 0 0 rg BT 416.07 538.10 Td (ells Far) Tj ET Q q 0 0 0 rg BT 445.61 538.10 Td (go Center in Sacramento, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 526.10 Td (California and ) Tj ET Q q 0 0 0 rg BT 145.80 526.10 Td (W) Tj ET Q q 0 0 0 rg BT 154.44 526.10 Td (arner Center in ) Tj ET Q q 0 0 0 rg BT 216.73 526.10 Td (W) Tj ET Q q 0 0 0 rg BT 225.37 526.10 Td (oodland Hills, California since such long-lived assets had carrying values that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 514.10 Td (exceeded their fair values based on a purchase and sale agreement or third-party guidance received during its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 502.10 Td (marketing process. For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.14 502.10 Td (three and nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.78 502.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.61 502.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.87 502.10 Td (, the Core Fund recorded impairment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 490.10 Td (losses of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.22 490.10 Td ($16.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.11 490.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.55 490.10 Td ($38.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.44 490.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 303.10 490.10 Td (, on Riverfront Plaza in Richmond, ) Tj ET Q q 0 0 0 rg BT 445.68 490.10 Td (V) Tj ET Q q 0 0 0 rg BT 452.30 490.10 Td (ir) Tj ET Q q 0 0 0 rg BT 458.23 490.10 Td (ginia due to deterioration ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 478.10 Td (of market conditions. Riverfront Plaza was sold in December 2015.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 68.00 454.10 Td (CORPORA) Tj ET Q q 0 0 0 rg BT 117.81 454.10 Td (TE LEVEL) Tj ET Q q 0 0 0 rg BT 167.00 454.10 Td ( ) Tj ET Q q 0 0 0 rg BT 168.95 454.10 Td (ACTIVITIES) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 68.00 430.10 Td (Other Corporate-level ) Tj ET Q q 0 0 0 rg BT 160.39 430.10 Td (Activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 406.10 Td (The tables below provide detail relating to our asset management fees and general and administrative expenses \(all ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (amounts in thousands, except percentages\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 345.60 226.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.50 345.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 345.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 345.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.50 345.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 345.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 345.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 345.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 315.60 226.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.50 315.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 315.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 315.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.50 315.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 315.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 315.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 315.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 285.60 226.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.50 285.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 285.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 285.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.50 285.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 285.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 285.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 285.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 202.60 226.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.50 202.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 202.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 202.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.50 202.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 202.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 202.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 202.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 172.60 226.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.50 172.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 172.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 172.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.50 172.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 172.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 172.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 172.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 142.60 226.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.50 142.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 142.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 142.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.50 142.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 142.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 142.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 142.60 70.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 359.6 m 343.5 359.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 359.6 m 347.5 359.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 347.5 359.6 m 414.5 359.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 359.6 m 488.5 359.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 359.6 m 492.5 359.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 359.6 m 562.5 359.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 345.6 m 343.5 345.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 347.5 345.6 m 414.5 345.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 345.6 m 488.5 345.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 345.6 m 562.5 345.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 315.6 m 343.5 315.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 347.5 315.6 m 414.5 315.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 315.6 m 488.5 315.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 315.6 m 562.5 315.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 301.6 m 343.5 301.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 299.6 m 343.5 299.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347.5 301.6 m 414.5 301.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347.5 299.6 m 414.5 299.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 301.6 m 488.5 301.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 299.6 m 488.5 299.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 301.6 m 562.5 301.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 299.6 m 562.5 299.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 216.60000000000002 m 343.5 216.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 216.60000000000002 m 347.5 216.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 347.5 216.60000000000002 m 414.5 216.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 216.60000000000002 m 488.5 216.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 216.60000000000002 m 492.5 216.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 216.60000000000002 m 562.5 216.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 216.60000000000002 m 343.5 216.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 202.60000000000002 m 343.5 202.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 347.5 216.60000000000002 m 414.5 216.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 347.5 202.60000000000002 m 414.5 202.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 202.60000000000002 m 488.5 202.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 202.60000000000002 m 562.5 202.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 172.60000000000002 m 343.5 172.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 347.5 172.60000000000002 m 414.5 172.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 172.60000000000002 m 488.5 172.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 172.60000000000002 m 562.5 172.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 158.60000000000002 m 343.5 158.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 156.60000000000002 m 343.5 156.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347.5 158.60000000000002 m 414.5 158.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347.5 156.60000000000002 m 414.5 156.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 158.60000000000002 m 488.5 158.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 156.60000000000002 m 488.5 156.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 158.60000000000002 m 562.5 158.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 156.60000000000002 m 562.5 156.60000000000002 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 299.50 374.28 Td (Three Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 314.50 364.28 Td (September 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 473.60 364.28 Td (Change) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 299.50 350.28 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 370.50 350.28 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.50 350.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 522.00 350.28 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 335.27 Td (Acquisition fee) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.00 335.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.65 335.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.00 335.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 335.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 335.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 335.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 335.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 320.27 Td (Asset management fee) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.15 320.27 Td (6,542) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.15 320.27 Td (11,064) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.80 320.32 Td (\(4,522) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 320.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.45 320.27 Td (\(40.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 320.27 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 305.27 Td (Asset management and acquisition fees) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.00 305.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.15 305.27 Td (6,542) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.00 305.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.15 305.27 Td (11,064) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.80 305.32 Td (\(4,522) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 305.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.45 305.27 Td (\(40.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 305.27 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 275.27 Td (Acquisition-related expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.00 275.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.65 275.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.00 275.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 275.27 Td (39) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 275.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.30 275.32 Td (\(39) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 275.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.45 275.27 Td (\(100.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 275.27 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 260.27 Td (General and administrative expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.00 260.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.15 260.27 Td (2,101) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.00 260.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.15 260.27 Td (1,648) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 260.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 260.27 Td (453) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 260.27 Td (27.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 260.27 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 302.20 231.28 Td (Nine Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 314.50 221.28 Td (September 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 473.60 221.28 Td (Change) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 299.50 207.28 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 370.50 207.28 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.50 207.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 522.00 207.28 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 192.27 Td (Acquisition fee) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.00 192.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.65 192.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.00 192.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.65 192.27 Td (580) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.30 192.32 Td (\(580) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 192.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.45 192.27 Td (\(100.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 192.27 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 177.27 Td (Asset management fee) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.15 177.27 Td (21,106) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.15 177.27 Td (27,612) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.80 177.32 Td (\(6,506) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 177.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.45 177.27 Td (\(23.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 177.27 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 162.27 Td (Asset management and acquisition fees) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.00 162.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.15 162.27 Td (21,106) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.00 162.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.15 162.27 Td (28,192) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.80 162.32 Td (\(7,086) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 162.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.45 162.27 Td (\(25.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 162.27 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 132.27 Td (Acquisition related expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.00 132.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.65 132.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.00 132.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.65 132.27 Td (639) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 132.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.30 132.32 Td (\(639) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 132.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.45 132.27 Td (\(100.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 132.27 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 117.27 Td (General and administrative expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.00 117.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.15 117.27 Td (5,346) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.00 117.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.15 117.27 Td (5,078) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 117.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 117.27 Td (268) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.80 117.27 Td (5.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 117.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 89.10 Td (W) Tj ET Q q 0 0 0 rg BT 76.64 89.10 Td (e pay acquisition fees to our ) Tj ET Q q 0 0 0 rg BT 191.05 89.10 Td (Advisor for services related to the due diligence, selection and acquisition of direct or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 77.10 Td (indirect real estate investments. ) Tj ET Q q 0 0 0 rg BT 178.38 77.10 Td (The acquisition fee is equal to 0.50% of \(i\) the purchase price of real estate investments ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 65.10 Td (acquired directly by us, including any debt attributable to such investments or \(ii\) when we make an investment indirectly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 53.10 Td (through another entity) Tj ET Q q 0 0 0 rg BT 138.22 53.10 Td (, such investment) Tj ET Q q 0 0 0 rg BT 210.71 53.10 Td (s pro rata share of the gross asset value of real estate investments held by that entity) Tj ET Q q 0 0 0 rg BT 544.96 53.10 Td (. ) Tj ET Q endstream endobj 79 0 obj <> endobj 80 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (37) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (Acquisition fees decreased for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.55 742.10 Td (nine months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.10 742.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.60 742.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.86 742.10 Td (, as compared to the same periods in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.87 742.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.87 742.10 Td (, due to no ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (acquisition fees having been incurred for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.77 730.10 Td (three and nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.41 730.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.23 730.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.50 730.10 Td (, while acquisition fees were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (incurred on our acquisitions of Civica Of) Tj ET Q q 0 0 0 rg BT 214.22 718.10 Td (fice Commons in February 2015 and 2851 Junction ) Tj ET Q q 0 0 0 rg BT 421.98 718.10 Td (A) Tj ET Q q 0 0 0 rg BT 428.46 718.10 Td (venue in May 2015. In ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (connection with the acquisition of Civica Of) Tj ET Q q 0 0 0 rg BT 227.55 706.10 Td (fice Commons, we were obligated to pay approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.43 706.10 Td ($2.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.33 706.10 Td ( of acquisition ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (fees to our ) Tj ET Q q 0 0 0 rg BT 94.16 694.10 Td (Advisor) Tj ET Q q 0 0 0 rg BT 125.98 694.10 Td (, half of which was payable in cash and half of which was payable related to the Participation Interest. Our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (Advisor and HALP) Tj ET Q q 0 0 0 rg BT 126.67 682.10 Td (, the holder of the Participation Interest, respectively) Tj ET Q q 0 0 0 rg BT 336.22 682.10 Td (, agreed to waive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.02 682.10 Td ($0.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.91 682.10 Td ( of the cash acquisition ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (fee and all of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 119.69 670.10 Td ($1.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 168.58 670.10 Td ( acquisition fee payable as an increase to the Participation Interest. In connection with the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (acquisition of 2851 Junction ) Tj ET Q q 0 0 0 rg BT 165.55 658.10 Td (A) Tj ET Q q 0 0 0 rg BT 172.03 658.10 Td (venue in May 2015, we were obligated to pay approximately $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.79 658.10 Td (0.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.68 658.10 Td ( of acquisition fees to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.17 646.10 Td (Advisor) Tj ET Q q 0 0 0 rg BT 95.99 646.10 Td (, half of which was payable in cash and half of which was payable as an increase to the Participation Interest. ) Tj ET Q q 0 0 0 rg BT 534.81 646.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (Advisor and HALP) Tj ET Q q 0 0 0 rg BT 126.67 634.10 Td (, the holder of the Participation Interest, respectively) Tj ET Q q 0 0 0 rg BT 336.22 634.10 Td (, agreed to waive $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.02 634.10 Td (0.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.91 634.10 Td ( of the cash acquisition ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (fee and all of the $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.69 622.10 Td (0.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 168.58 622.10 Td ( acquisition fee payable as an increase to the Participation Interest. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 598.10 Td (W) Tj ET Q q 0 0 0 rg BT 76.64 598.10 Td (e also pay monthly asset management fees to our ) Tj ET Q q 0 0 0 rg BT 274.64 598.10 Td (Advisor based on an annual fee equal to 1.5% of the amount of net ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (equity capital invested in real estate investments. Our asset management fees decreased for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.24 586.10 Td (three and nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.88 586.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.26 574.10 Td ( partially due to our sales of real estate investments in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.70 574.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.70 574.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.14 574.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.14 574.10 Td (. ) Tj ET Q q 0 0 0 rg BT 414.09 574.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 463.99 574.10 Td (, we recorded a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.56 574.10 Td ($2.3 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 562.10 Td ( reduction in the Participation Interest liability as of June30, 2016 based on our expectation to distribute approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td ($6.35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 550.10 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.28 550.10 Td ($6.65) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 107.78 550.10 Td ( per share to our shareholders pursuant to the execution of the Plan of Liquidation.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 526.10 Td (General and administrative expenses include legal and accounting fees, insurance costs, costs and expenses associated with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (our board of directors and other administrative expenses. General and administrative expenses increased for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.73 514.10 Td (three and nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 555.37 514.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.33 502.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.59 502.10 Td ( due to an increase in legal fees.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 68.00 478.10 Td (Funds from Operations and Modified Funds from Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 454.10 Td (Funds from Operations \(FFO\) is a non-GAAP) Tj ET Q q 0 0 0 rg BT 260.94 454.10 Td ( financial performance measure defined by the National ) Tj ET Q q 0 0 0 rg BT 485.85 454.10 Td (Association of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (Real Estate Investment ) Tj ET Q q 0 0 0 rg BT 144.51 442.10 Td (T) Tj ET Q q 0 0 0 rg BT 150.27 442.10 Td (rusts \(NAREIT\) and widely recognized by investors and analysts as one measure of operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (performance of a real estate company) Tj ET Q q 0 0 0 rg BT 199.55 430.10 Td (. FFO excludes items such as real estate depreciation and amortization. Depreciation and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (amortization, as applied in accordance with GAAP) Tj ET Q q 0 0 0 rg BT 252.44 418.10 Td (, implicitly assumes that the value of real estate assets diminishes predictably ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (over time and also assumes that such assets are adequately maintained and renovated as required in order to maintain their ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (value. Since real estate values have historically risen or fallen with market conditions such as occupancy rates, rental rates, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (inflation, interest rates, the business cycle, unemployment and consumer spending, it is management) Tj ET Q q 0 0 0 rg BT 454.90 382.10 Td (s view) Tj ET Q q 0 0 0 rg BT 480.08 382.10 Td (, and we believe the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (view of many industry investors and analysts, that the presentation of operating results for real estate companies using ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (historical cost accounting alone is insuf) Tj ET Q q 0 0 0 rg BT 207.84 358.10 Td (ficient. In addition, FFO excludes gains and losses from the sale of real estate and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (impairment char) Tj ET Q q 0 0 0 rg BT 115.63 346.10 Td (ges related to depreciable real estate assets and in-substance real estate equity investments, which we believe ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (provides management and investors with a helpful additional measure of the historical performance of our real estate portfolio, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (as it allows for comparisons, year to year) Tj ET Q q 0 0 0 rg BT 213.99 322.10 Td (, that reflect the impact on operations from trends in items such as occupancy rates, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (rental rates, operating costs, general and administrative expenses and interest costs. ) Tj ET Q q 0 0 0 rg BT 384.89 310.10 Td (A) Tj ET Q q 0 0 0 rg BT 391.56 310.10 Td ( property will be evaluated for impairment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (if events or circumstances indicate that the carrying amount may not be recoverable \(i.e. the carrying amount exceeds the total ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (estimated undiscounted future cash flows from the property\). Undiscounted future cash flows are based on anticipated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (operating performance, including estimated future net rental and lease revenues, net proceeds on the sale of the property) Tj ET Q q 0 0 0 rg BT 529.99 274.10 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (certain other ancillary cash flows. ) Tj ET Q q 0 0 0 rg BT 187.54 262.10 Td (While impairment char) Tj ET Q q 0 0 0 rg BT 280.10 262.10 Td (ges are excluded from the calculation of FFO as described above, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (stockholders are cautioned that due to the limited term of our operations, it could be dif) Tj ET Q q 0 0 0 rg BT 399.17 250.10 Td (ficult to recover any impairment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (char) Tj ET Q q 0 0 0 rg BT 67.03 238.10 Td (ges. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 214.10 Td (In addition to FFO, management uses modified funds from operations \(MFFO\), as defined by the Investment Program ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (Association \(the IP) Tj ET Q q 0 0 0 rg BT 130.18 202.10 Td (A\), as a non-GAAP) Tj ET Q q 0 0 0 rg BT 213.12 202.10 Td ( supplemental financial performance measure to evaluate our operating performance. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (The IP) Tj ET Q q 0 0 0 rg BT 76.02 190.10 Td (A) Tj ET Q q 0 0 0 rg BT 82.69 190.10 Td ( has recommended the use of MFFO as a supplemental measure for publicly registered, non-listed REIT) Tj ET Q q 0 0 0 rg BT 498.55 190.10 Td (s to enhance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (the assessment of the operating performance of a non-listed REIT) Tj ET Q q 0 0 0 rg BT 312.23 178.10 Td (. MFFO is not equivalent to our net income or loss as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (determined under GAAP) Tj ET Q q 0 0 0 rg BT 148.87 166.10 Td (, and MFFO may not be useful as a measure of the long-term operating performance of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (investments or as a comparative measure to other publicly registered, non-listed REIT) Tj ET Q q 0 0 0 rg BT 393.64 154.10 Td (s if we do not continue to operate with a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (limited life and tar) Tj ET Q q 0 0 0 rg BT 123.96 142.10 Td (geted exit strategy) Tj ET Q q 0 0 0 rg BT 196.62 142.10 Td (, as currently intended and described herein. MFFO includes funds generated by the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (operations of our real estate investments and funds used in our corporate-level operations. MFFO is based on FFO, but includes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (certain additional adjustments which we believe are appropriate. Such items include reversing the ef) Tj ET Q q 0 0 0 rg BT 450.79 118.10 Td (fects of straight-line rent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (revenue recognition, fair value adjustments to derivative instruments that do not qualify for hedge accounting treatment, gains ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 Td (or losses related to fair value adjustments for derivatives not qualifying for hedge accounting, and gains or losses related to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.10 Td (early extinguishment of hedges or debt. Some of these adjustments are necessary to address changes in the accounting and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.10 Td (reporting rules under GAAP) Tj ET Q q 0 0 0 rg BT 163.22 70.10 Td ( for real estate subsequent to the establishment of NAREIT) Tj ET Q q 0 0 0 rg BT 402.32 70.10 Td (s definition of FFO. ) Tj ET Q q 0 0 0 rg BT 486.59 70.10 Td (These changes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.10 Td (also have prompted a significant increase in the magnitude of non-cash and non-operating items included in FFO, as defined. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 46.10 Td (Such items include amortization of out-of-market lease intangible assets and liabilities and certain tenant incentives.) Tj ET Q endstream endobj 81 0 obj <> endobj 82 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (38) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 730.10 Td (The purchase of properties, and the corresponding expenses associated with that process, including acquisition fees and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (expenses, is a key operational feature of our business plan to generate operational income and cash flows in order to make ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (distributions to our stockholders. MFFO excludes acquisition expenses. Under GAAP) Tj ET Q q 0 0 0 rg BT 392.47 706.10 Td (, acquisition expenses are characterized as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (operating expenses in determining operating net income. ) Tj ET Q q 0 0 0 rg BT 279.19 694.10 Td (These expenses are paid in cash by us, and therefore such funds will ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (not be available to distribute to our stockholders. ) Tj ET Q q 0 0 0 rg BT 247.46 682.10 Td (All paid and accrued acquisition expenses with respect to the acquisition of a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (property negatively impact our operating performance during the period in which the property is acquired and will have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (negative ef) Tj ET Q q 0 0 0 rg BT 93.96 658.10 Td (fects on returns to our stockholders, the potential for future distributions, and future cash flows, unless earnings from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (operations or net sales proceeds from the disposition of other properties are generated to cover the purchase price of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (property) Tj ET Q q 0 0 0 rg BT 83.23 634.10 Td (, the related acquisition expenses and other costs related to such property) Tj ET Q q 0 0 0 rg BT 374.15 634.10 Td (. In addition, if we acquire a property) Tj ET Q q 0 0 0 rg BT 522.61 634.10 Td (, there ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (will not be any of) Tj ET Q q 0 0 0 rg BT 120.36 622.10 Td (fering proceeds to pay the corresponding acquisition-related costs. ) Tj ET Q q 0 0 0 rg BT 387.78 622.10 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 437.11 622.10 Td (, unless our ) Tj ET Q q 0 0 0 rg BT 484.89 622.10 Td (Advisor ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (determines to waive the payment of any then-outstanding acquisition-related costs otherwise payable to the ) Tj ET Q q 0 0 0 rg BT 480.99 610.10 Td (Advisor) Tj ET Q q 0 0 0 rg BT 512.81 610.10 Td (, such costs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (will be paid from additional debt, operational earnings or cash flow) Tj ET Q q 0 0 0 rg BT 318.99 598.10 Td (, net proceeds from the sale of properties, or ancillary cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (flows. ) Tj ET Q q 0 0 0 rg BT 77.04 586.10 Td (Therefore, MFFO may not be an accurate indicator of our operating performance, especially during periods in which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (properties are being acquired. Since MFFO excludes acquisition expenses, MFFO would only be comparable to the operations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (of non-listed REIT) Tj ET Q q 0 0 0 rg BT 124.84 562.10 Td (s that have completed their acquisition activity and have other similar operating characteristics. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 538.10 Td (MFFO is useful in assisting management and investors in assessing the sustainability \(that is, the capacity to continue to be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (maintained\) of operating performance in future operating periods, and in particular) Tj ET Q q 0 0 0 rg BT 380.86 526.10 Td (, after the of) Tj ET Q q 0 0 0 rg BT 429.54 526.10 Td (fering and acquisition stages are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (complete and net asset value is disclosed. MFFO is not a useful measure in evaluating net asset value because impairments are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (taken into account in determining net asset value but not in determining MFFO. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 478.10 Td (Management uses MFFO to evaluate the financial performance of our investment portfolio. In addition, our board of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (directors has used MFFO to evaluate and establish our distribution policy and the sustainability thereof. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 442.10 Td (FFO and MFFO should not be construed to be more relevant or accurate than the current GAAP) Tj ET Q q 0 0 0 rg BT 451.98 442.10 Td ( methodology in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (calculating net income or in its applicability in evaluating our operating performance. In addition, FFO and MFFO should not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (be considered as alternatives to net income \(loss\) or income \(loss\) from continuing operations as an indication of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (performance or as alternatives to cash flows from operating activities as an indication of our liquidity) Tj ET Q q 0 0 0 rg BT 454.50 406.10 Td (, but rather should be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (reviewed in conjunction with these and other GAAP) Tj ET Q q 0 0 0 rg BT 259.30 394.10 Td ( measurements. Further) Tj ET Q q 0 0 0 rg BT 353.04 394.10 Td (, FFO and MFFO are not intended to be used as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (liquidity measures indicative of cash flow available to fund our cash needs, including our ability to make distributions to our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (stockholders. Please see the limitations listed below associated with the use of MFFO:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 346.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 346.10 Td (W) Tj ET Q q 0 0 0 rg BT 112.64 346.10 Td (e use interest rate swap contracts as economic hedges against the variability of interest rates on variable rate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 334.10 Td (loans. ) Tj ET Q q 0 0 0 rg BT 129.56 334.10 Td (Although we expect to hold these instruments to maturity) Tj ET Q q 0 0 0 rg BT 358.87 334.10 Td (, if we were to settle these instruments currently) Tj ET Q q 0 0 0 rg BT 550.10 334.10 Td (, it ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 322.10 Td (would have an impact on our operating performance. ) Tj ET Q q 0 0 0 rg BT 318.09 322.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 367.99 322.10 Td (, these derivative instruments are measured at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 310.10 Td (fair value on a quarterly basis in accordance with GAAP) Tj ET Q q 0 0 0 rg BT 329.20 310.10 Td (. MFFO excludes gains \(losses\) related to changes in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 298.10 Td (these estimated values of our derivative instruments because such adjustments may not be reflective of ongoing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 286.10 Td (operations and may reflect unrealized impacts on our operating performance.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 262.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 262.10 Td (MFFO excludes acquisition expenses. ) Tj ET Q q 0 0 0 rg BT 260.65 262.10 Td (Although these amounts reduce net income, we have funded such costs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 250.10 Td (during the periods presented with sales proceeds and acquisition-related indebtedness and do not consider these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 238.10 Td (fees and expenses in the evaluation of our operating performance and determining MFFO.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 214.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 214.10 Td (MFFO excludes impairment char) Tj ET Q q 0 0 0 rg BT 236.85 214.10 Td (ges related to long-lived assets that have been written down to current market ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 202.10 Td (valuations. ) Tj ET Q q 0 0 0 rg BT 152.05 202.10 Td (Although these losses are included in the calculation of net income \(loss\), we have excluded them ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 190.10 Td (from MFFO because we believe doing so more appropriately presents the operating performance of our real estate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 178.10 Td (investments on a comparative basis.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 154.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 154.10 Td (Our business is subject to volatility in the real estate markets and general economic conditions, and adverse ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 142.10 Td (changes in those conditions could have a material adverse impact on our business, results of operations and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 130.10 Td (MFFO. ) Tj ET Q q 0 0 0 rg BT 135.68 130.10 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 185.02 130.10 Td (, the predictive nature of MFFO is uncertain and past performance may not be indicative of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 118.10 Td (future results.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 94.10 Td (Neither the Securities and Exchange Commission \(the SEC\), NAREIT) Tj ET Q q 0 0 0 rg BT 359.14 94.10 Td ( nor any regulatory body has passed judgment on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.10 Td (the acceptability of the adjustments that we use to calculate FFO or MFFO. In the future, the SEC, NAREIT) Tj ET Q q 0 0 0 rg BT 482.78 82.10 Td ( or a regulatory ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.10 Td (body may decide to standardize the allowable adjustments across the non-listed REIT) Tj ET Q q 0 0 0 rg BT 392.22 70.10 Td ( industry and we would have to adjust our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.10 Td (calculation and characterization of FFO or MFFO.) Tj ET Q endstream endobj 83 0 obj <> endobj 84 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (39) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 742.10 Td ( ) Tj ET Q q 0 0 0 rg BT 70.32 742.10 Td (The table below summarizes FFO and MFFO attributable to common stockholders for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.76 742.10 Td (three and nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.40 742.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.26 730.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.70 730.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.70 730.10 Td ( and a reconciliation of such non-GAAP) Tj ET Q q 0 0 0 rg BT 330.40 730.10 Td ( financial performance measures to our net income \(loss\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (for the periods then ended \(in thousands\).) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 668.60 232.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.50 668.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 668.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 668.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 668.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 668.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 668.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 668.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 638.60 232.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.50 638.60 67.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 638.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 638.60 67.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 638.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 638.60 67.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 638.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 638.60 67.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 598.60 232.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.50 598.60 67.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 598.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 598.60 67.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 598.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 598.60 67.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 598.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 598.60 67.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 558.60 232.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.50 558.60 67.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 558.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 558.60 67.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 558.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 558.60 67.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 558.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 558.60 67.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 518.60 232.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.50 518.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 518.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 518.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 518.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 518.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 518.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 518.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 488.60 232.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.50 488.60 67.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 488.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 488.60 67.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 488.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 488.60 67.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 488.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 488.60 67.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 448.60 232.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.50 448.60 67.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 448.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 448.60 67.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 448.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 448.60 67.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 448.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 448.60 67.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 409.60 232.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.50 409.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 409.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 409.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 409.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 409.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 409.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 409.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 369.60 232.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.50 369.60 67.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 369.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 369.60 67.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 369.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 369.60 67.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 369.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 369.60 67.00 -25.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 282.5 668.6 m 349.5 668.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 668.6 m 420.5 668.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 668.6 m 491.5 668.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 668.6 m 562.5 668.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 282.5 558.6 m 349.5 558.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 558.6 m 420.5 558.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 558.6 m 491.5 558.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 558.6 m 562.5 558.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 282.5 448.6 m 349.5 448.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 448.6 m 420.5 448.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 448.6 m 491.5 448.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 448.6 m 562.5 448.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 282.5 424.6 m 349.5 424.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 282.5 422.6 m 349.5 422.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 424.6 m 420.5 424.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 422.6 m 420.5 422.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 424.6 m 491.5 424.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 422.6 m 491.5 422.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 448.6 m 562.5 448.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 424.6 m 562.5 424.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 422.6 m 562.5 422.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 688.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 305.50 698.28 Td (Three Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 320.50 688.28 Td (September 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.20 698.28 Td (Nine Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.50 688.28 Td (September 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 673.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 305.50 673.28 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 376.50 673.28 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.50 673.28 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.50 673.28 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 658.27 Td (Net income \(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.00 658.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.15 658.27 Td (176,065) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.00 658.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.80 658.32 Td (\(9,164) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.65 658.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.00 658.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 658.27 Td (183,417) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 658.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 658.27 Td (35,652) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 643.27 Td (Depreciation and amortization) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 187.12 647.80 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 643.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.15 643.27 Td (21,491) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 643.27 Td (38,190) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 643.27 Td (66,782) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 628.27 Td (\(Gain\) loss on sale or dissolution of investment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 618.27 Td (property and unconsolidated joint venture) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 220.18 622.80 Td (\(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.80 618.32 Td (\(173,344) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.65 618.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.80 618.32 Td (\(20,711) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.65 618.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.80 618.32 Td (\(209,774) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.65 618.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 618.32 Td (\(50,094) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 618.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 603.27 Td (Impairment on real estate investments) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 217.67 607.80 Td (\(3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.15 603.27 Td (6,909) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.15 603.27 Td (16,033) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 603.27 Td (30,372) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 603.27 Td (16,033) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 588.27 Td ( ) Tj ET Q q 0 0 0 rg BT 64.95 588.27 Td (Adjustments to equity in earnings \(losses\) from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 578.27 Td (unconsolidatedentities, net) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 162.14 582.80 Td (\(4\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.15 578.27 Td (9,158) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.15 578.27 Td (8,688) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.15 578.27 Td (4,205) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 578.32 Td (\(18,124) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 578.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 563.27 Td () Tj ET Q q 0 0 0 rg BT 64.95 563.27 Td (Adjustments for noncontrolling interests) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 226.87 567.80 Td (\(5\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.80 563.32 Td (\(1,656) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.65 563.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.30 563.32 Td (\(173) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.65 563.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.80 563.32 Td (\(1,498) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.65 563.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 563.32 Td (\(625) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 563.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 548.27 Td (Funds from Operations attributable to common) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 538.27 Td (stockholders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.15 538.27 Td (17,132) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.15 538.27 Td (16,164) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 538.27 Td (44,912) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 538.27 Td (49,624) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 523.27 Td (\(Gain\) loss on derivative instruments) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 213.81 527.80 Td (\(6\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.80 523.32 Td (\(3,913) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.65 523.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.80 523.32 Td (\(3,922) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.65 523.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.80 523.32 Td (\(12,311) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.65 523.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 523.32 Td (\(11,449) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 523.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 508.27 Td (Other components of revenues and expenses) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 243.50 512.80 Td (\(7\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.30 508.32 Td (\(824) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.65 508.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.15 508.27 Td (1,277) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.15 508.27 Td (4,961) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 508.27 Td (6,773) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 493.27 Td ( ) Tj ET Q q 0 0 0 rg BT 64.95 493.27 Td (Acquisition fees and expenses ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 188.25 497.80 Td (\(8\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 493.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.65 493.27 Td (39) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.65 493.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 493.27 Td (1,219) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 478.27 Td ( ) Tj ET Q q 0 0 0 rg BT 64.95 478.27 Td (Adjustments to equity in earnings \(losses\) from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 468.27 Td (unconsolidatedentities, net) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 162.14 472.80 Td (\(4\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 468.27 Td (20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.30 468.32 Td (\(495) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.65 468.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.30 468.32 Td (\(356) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.65 468.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 468.32 Td (\(1,600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 468.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 453.27 Td () Tj ET Q q 0 0 0 rg BT 64.95 453.27 Td (Adjustments for noncontrolling interests) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 226.87 457.80 Td (\(5\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.65 453.27 Td (416) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 453.27 Td (246) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 453.27 Td (661) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 453.27 Td (394) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 438.27 Td (Modified Funds from Operations attributable to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 428.27 Td (common stockholders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.00 428.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.15 428.27 Td (12,831) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.00 428.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.15 428.27 Td (13,309) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.00 428.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 428.27 Td (37,867) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 428.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 428.27 Td (44,961) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 399.27 Td (Basic and diluted net income \(loss\) per common share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.00 399.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.15 399.27 Td (0.79) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.00 399.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.80 399.32 Td (\(0.04) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.65 399.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.00 399.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.15 399.27 Td (0.83) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 399.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 399.27 Td (0.16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 384.27 Td (Funds From Operations attributable to common) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 374.27 Td (stockholders per common share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.00 374.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.15 374.27 Td (0.08) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.00 374.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.15 374.27 Td (0.07) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.00 374.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.15 374.27 Td (0.20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 374.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 374.27 Td (0.22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 359.27 Td (Modified Funds From Operations attributable to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 349.27 Td (common stockholders per common share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.00 349.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.15 349.27 Td (0.06) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.00 349.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.15 349.27 Td (0.06) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.00 349.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.15 349.27 Td (0.17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 349.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 349.27 Td (0.20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 334.27 Td (Weighted average shares outstanding) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.15 334.27 Td (221,632) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.15 334.27 Td (223,004) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 334.27 Td (221,790) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 334.27 Td (223,658) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 318.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 306.10 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 306.10 Td (Represents the depreciation and amortization of various real estate assets.Historical cost accounting for real estate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 294.10 Td (assets in accordance with GAAP) Tj ET Q q 0 0 0 rg BT 216.70 294.10 Td ( implicitly assumes that the value of real estate assets diminishes predictably over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 282.10 Td (time. Since real estate values have historically risen or fallen with market conditions, we believe that such depreciation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 270.10 Td (and amortization may be of limited relevance in evaluating current operating performance and, as such, these items are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 258.10 Td (excluded from our determination of FFO. ) Tj ET Q q 0 0 0 rg BT 254.02 258.10 Td (As of June 30, 2016, we determined that all of our directly-owned properties ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 246.10 Td (were classified as held for sale, therefore, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.53 246.10 Td (no) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.53 246.10 Td ( depreciation and amortization were recorded on these assets for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.58 246.10 Td (three ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 234.10 Td (months ended September 30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.59 234.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 210.10 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 210.10 Td (Represents the gain on disposition of certain real estate investments. ) Tj ET Q q 0 0 0 rg BT 361.21 210.10 Td (Althoughthis gain isincluded in the calculation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 198.10 Td (of net income \(loss\), we have excluded it from FFObecause webelievedoing somore appropriately presentsthe ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 186.10 Td (operating performance of our real estate investments on a comparative basis. ) Tj ET Q q 0 0 0 rg BT 395.15 186.10 Td (This adjustment includes amounts from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 174.10 Td (the Gain \(loss\) on sale or dissolution of unconsolidated joint venture and Gain \(loss\) on sale of real estate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 162.10 Td (investments included in the condensed consolidated statements of operations and comprehensive income \(loss\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 138.10 Td (\(3\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 138.10 Td (Represents impairment char) Tj ET Q q 0 0 0 rg BT 198.00 138.10 Td (ges recorded for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.18 138.10 Td (third quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.89 138.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.22 138.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.22 138.10 Td ( in accordance with GAAP) Tj ET Q q 0 0 0 rg BT 469.85 138.10 Td (. See Results of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 126.10 Td (Operations Results of our Directly-Owned Properties for additional information regarding our impairment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 114.10 Td (char) Tj ET Q q 0 0 0 rg BT 103.03 114.10 Td (ges.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 90.10 Td (\(4\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 90.10 Td (Includes adjustments to equity in earnings \(losses\) of unconsolidated entities, net, similar to those described in Notes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 78.10 Td (1, 2, 3, 6 and 7 for our unconsolidated entities, which are necessary to convert our share of income \(loss\) from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 66.10 Td (unconsolidated entities to FFO and MFFO.) Tj ET Q endstream endobj 85 0 obj <> endobj 86 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (\(5\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 742.10 Td (Includes income attributable to noncontrolling interests and all adjustments to eliminate the noncontrolling interests) Tj ET Q q 0 0 0 rg BT 551.54 742.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 730.10 Td (share of the adjustments to convert our net income \(loss\) to FFO and MFFO.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (\(6\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 706.10 Td (Represents components of net income \(loss\) related to the estimated changes in the values of our interest rate swap ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 694.10 Td (derivatives.) Tj ET Q q 0 0 0 rg BT 137.19 694.10 Td (W) Tj ET Q q 0 0 0 rg BT 145.83 694.10 Td (e have excluded these changes in value from our evaluation of our operating performance and MFFO ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 682.10 Td (because we expect to hold the underlying instruments to their maturity and accordingly the interim gains or losses will ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 670.10 Td (remain unrealized.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (\(7\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 646.10 Td (Includesthe following components of revenues and expenses that we do not consider in evaluating our operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 634.10 Td (performance and determining MFFO\(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 584.60 232.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.50 584.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 584.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 584.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 584.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 584.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 584.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 584.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 554.60 232.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.50 554.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 554.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 554.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 554.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 554.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 554.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 554.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 524.60 232.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.50 524.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 524.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 524.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 524.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 524.60 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 524.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 524.60 67.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 282.5 584.6 m 349.5 584.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 584.6 m 420.5 584.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 584.6 m 491.5 584.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 584.6 m 562.5 584.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 282.5 584.6 m 349.5 584.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 584.6 m 420.5 584.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 584.6 m 491.5 584.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 584.6 m 562.5 584.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 282.5 509.6 m 349.5 509.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 509.6 m 420.5 509.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 509.6 m 491.5 509.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 509.6 m 562.5 509.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 282.5 495.6 m 349.5 495.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 282.5 493.6 m 349.5 493.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 495.6 m 420.5 495.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 493.6 m 420.5 493.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 495.6 m 491.5 495.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 493.6 m 491.5 493.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 495.6 m 562.5 495.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 493.6 m 562.5 493.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 604.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 305.50 614.28 Td (Three Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 320.50 604.28 Td (September 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.20 614.28 Td (Nine Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.50 604.28 Td (September 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 589.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 305.50 589.28 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 376.50 589.28 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.50 589.28 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.50 589.28 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 574.27 Td (Straight-line rent adjustment \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.00 574.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.80 574.32 Td (\(1,215) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.65 574.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.00 574.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.80 574.32 Td (\(2,421) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.65 574.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.00 574.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.80 574.32 Td (\(6,200) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.65 574.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 574.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 574.32 Td (\(3,974) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 574.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 559.27 Td (Amortization of lease incentives \(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 559.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.15 559.27 Td (4,211) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 559.27 Td (10,660) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 559.27 Td (12,187) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 544.27 Td (Amortization of out-of-market leases \(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 544.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.30 544.32 Td (\(628) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.65 544.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.30 544.32 Td (\(695) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.65 544.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 544.32 Td (\(1,824) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 544.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 529.27 Td (Settlement of debt \(c\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.65 529.27 Td (380) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.65 529.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 529.27 Td (978) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 529.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 514.27 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 514.27 Td (11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.65 514.27 Td (115) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 514.27 Td (218) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 514.27 Td (384) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 499.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.00 499.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.30 499.32 Td (\(824) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.65 499.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.00 499.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.15 499.27 Td (1,277) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.00 499.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.15 499.27 Td (4,961) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 499.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 499.27 Td (6,773) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 471.10 Td (\(a\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 471.10 Td (Represents the adjustments to rental revenue as required by GAAP) Tj ET Q q 0 0 0 rg BT 389.06 471.10 Td ( to recognize minimum lease payments on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 459.10 Td (a straight-line basis over the respective lease terms.) Tj ET Q q 0 0 0 rg BT 332.30 459.10 Td (W) Tj ET Q q 0 0 0 rg BT 340.94 459.10 Td (e have excluded these adjustments from our evaluation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 447.10 Td (of the operating performance of the Company and in determining MFFO because we believe that the rent that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 435.10 Td (is billable during the current period is a more relevant measure of the Company) Tj ET Q q 0 0 0 rg BT 442.73 435.10 Td (s operating performance for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 423.10 Td (such period.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 399.10 Td (\(b\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 399.10 Td (Represents the amortization of lease incentives and out-of-market leases.) Tj ET Q q 0 0 0 rg BT 418.28 399.10 Td (As stated in Note 1 above, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 387.10 Td (historical cost accounting for real estate assets in accordance with GAAP) Tj ET Q q 0 0 0 rg BT 414.30 387.10 Td ( implicitly assumes that the value of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 375.10 Td (real estate assets diminishes predictably over time. Since real estate values have historically risen or fallen ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 363.10 Td (with market conditions, we believe that such amortization may be of limited relevance in evaluating current ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 351.10 Td (operating performance and, as such, these items are excluded from our determination of MFFO. ) Tj ET Q q 0 0 0 rg BT 507.72 351.10 Td (As of June ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 339.10 Td (30, 2016, we determined that all of our directly-owned properties were classified as held for sale, therefore, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 327.10 Td (no) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 132.00 327.10 Td ( depreciation and amortization were recorded on these assets for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.05 327.10 Td (three months ended September 30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 315.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.00 315.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 291.10 Td (\(c\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 291.10 Td (Represents the prepayment penalty incurred at our real estate investments due to the termination of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 279.10 Td (secured mortgage loans. ) Tj ET Q q 0 0 0 rg BT 220.86 279.10 Td (Althoughthis loss isincluded in the calculation of net income \(loss\), we have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 267.10 Td (excluded it from MFFObecause webelievedoing somore appropriately presentsthe operating performance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 255.10 Td (of our real estate investments on a comparative basis.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 231.10 Td (\(8\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 231.10 Td (Represents acquisition expenses and acquisition fees paid to our ) Tj ET Q q 0 0 0 rg BT 344.55 231.10 Td (Advisor that are expensed in our condensed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 219.10 Td (consolidated statements of operations. ) Tj ET Q q 0 0 0 rg BT 241.06 219.10 Td (W) Tj ET Q q 0 0 0 rg BT 249.70 219.10 Td (e fund such costs with sales proceeds and acquisition-related indebtedness, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 207.10 Td (and therefore do not consider these expenses in evaluating our operating performance and determining MFFO.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 68.00 183.10 Td (Related-Party T) Tj ET Q q 0 0 0 rg BT 132.89 183.10 Td (ransactions and ) Tj ET Q q 0 0 0 rg BT 200.87 183.10 Td (Agreements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 159.10 Td (W) Tj ET Q q 0 0 0 rg BT 76.64 159.10 Td (e have entered into agreements with the ) Tj ET Q q 0 0 0 rg BT 237.41 159.10 Td (Advisor and Hines or its af) Tj ET Q q 0 0 0 rg BT 345.27 159.10 Td (filiates, whereby we pay certain fees and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 147.10 Td (reimbursements to these entities, including property management fees, leasing fees, construction management fees, debt ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 135.10 Td (financing fees, re-development construction management fees, reimbursement of or) Tj ET Q q 0 0 0 rg BT 384.69 135.10 Td (ganizational and of) Tj ET Q q 0 0 0 rg BT 461.15 135.10 Td (fering expenses, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 123.10 Td (reimbursement of certain operating costs, as described elsewhere in this Quarterly Report on Form 10-Q and previously in our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 111.10 Td (Annual Report on Form 10-K for the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.34 111.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.92 111.10 Td (.) Tj ET Q endstream endobj 87 0 obj <> endobj 88 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (41) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 68.00 742.25 Td (Of) Tj ET Q q 0 0 0 rg BT 78.37 742.25 Td (f-Balance Sheet ) Tj ET Q q 0 0 0 rg BT 146.33 742.25 Td (Arrangements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 718.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.44 718.25 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.71 718.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.15 718.25 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.73 718.25 Td (, we had no of) Tj ET Q q 0 0 0 rg BT 327.48 718.25 Td (f-balance sheet arrangements that have or are reasonably ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (likely to have a current or future ef) Tj ET Q q 0 0 0 rg BT 189.48 706.25 Td (fect on our financial condition, changes in financial condition, revenues or expenses, results ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 Td (of operations, liquidity) Tj ET Q q 0 0 0 rg BT 140.73 694.25 Td (, capital expenditures or capital resources.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 67.50 670.25 Td (Subsequent Events) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 67.50 646.25 Td (Champions V) Tj ET Q q 0 0 0 rg BT 120.93 646.25 Td (illage) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 622.25 Td (In October 2016, we sold Champions ) Tj ET Q q 0 0 0 rg BT 219.24 622.25 Td (V) Tj ET Q q 0 0 0 rg BT 225.86 622.25 Td (illage for a sales price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.93 622.25 Td ($50.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.82 622.25 Td ( to the same buyer that purchased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.16 622.25 Td (seven) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.93 622.25 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 610.25 Td (the Grocery-Anchored Portfolio properties in ) Tj ET Q q 0 0 0 rg BT 232.50 610.25 Td (August 2016. ) Tj ET Q q 0 0 0 rg BT 288.71 610.25 Td (The Grocery-Anchored Portfolio consisted of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.38 610.25 Td (eight) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.38 610.25 Td ( grocery-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 598.25 Td (anchored shopping centers that were acquired in January 2014 for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.52 598.25 Td ($178.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.41 598.25 Td ( in aggregate. See Note 3 Real Estate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 586.25 Td (Investments Property Sales for information regarding the sale of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.65 586.25 Td (seven) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.42 586.25 Td ( of the Grocery-Anchored Portfolio properties.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 67.50 562.25 Td (W) Tj ET Q q 0 0 0 rg BT 74.91 562.25 Td (est Coast ) Tj ET Q q 0 0 0 rg BT 114.18 562.25 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 538.25 Td (As described in Note 1 Or) Tj ET Q q 0 0 0 rg BT 184.52 538.25 Td (ganization, in November 2016, we sold the ) Tj ET Q q 0 0 0 rg BT 359.02 538.25 Td (W) Tj ET Q q 0 0 0 rg BT 367.66 538.25 Td (est Coast ) Tj ET Q q 0 0 0 rg BT 405.99 538.25 Td (Assets for an aggregate sales price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 526.25 Td ($1.162 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.61 526.25 Td (. ) Tj ET Q q 0 0 0 rg BT 110.43 526.25 Td (W) Tj ET Q q 0 0 0 rg BT 119.07 526.25 Td (e originally acquired the ) Tj ET Q q 0 0 0 rg BT 218.85 526.25 Td (W) Tj ET Q q 0 0 0 rg BT 227.49 526.25 Td (est Coast ) Tj ET Q q 0 0 0 rg BT 265.82 526.25 Td (Assets between June 2005 and May 2015 for a purchase price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.30 526.25 Td ($1.1 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 514.25 Td (billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.61 514.25 Td ( in aggregate. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 67.50 490.25 Td (Civica Office Commons) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 466.25 Td (In November 2016, we sold Civica Of) Tj ET Q q 0 0 0 rg BT 220.34 466.25 Td (fice Commons for a sales price of $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.80 466.25 Td (193.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.69 466.25 Td (. ) Tj ET Q q 0 0 0 rg BT 421.51 466.25 Td (W) Tj ET Q q 0 0 0 rg BT 430.15 466.25 Td (e originally acquired Civica ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 454.25 Td (Of) Tj ET Q q 0 0 0 rg BT 59.87 454.25 Td (fice Commons in February 2015 for a purchase price of $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.80 454.25 Td (205.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.69 454.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 430.25 Td (Item3. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 84.99 430.25 Td (Quantitative and Qualitative Disclosures ) Tj ET Q q 0 0 0 rg BT 254.63 430.25 Td (About Market Risk.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 406.25 Td (Market risk is the exposure to loss resulting from changes in interest rates, foreign currency exchange rates and equity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.25 Td (prices. Interest rate risk is the primary risk in pursuing our business plan. ) Tj ET Q q 0 0 0 rg BT 346.05 394.25 Td (As of September 30, 2016, we had no outstanding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.25 Td (debt secured by our directly-held properties and no exposure to changes in foreign currency exchange rates on equity prices.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 358.25 Td (Item4. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 84.99 358.25 Td (Controls and Procedures.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 334.25 Td (In accordance with Rules13a-15 and 15d-15 promulgated under the Exchange ) Tj ET Q q 0 0 0 rg BT 384.28 334.25 Td (Act, we carried out an evaluation, under the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.25 Td (supervision and with the participation of management, including our Chief Executive Of) Tj ET Q q 0 0 0 rg BT 404.17 322.25 Td (ficer and Chief Financial Of) Tj ET Q q 0 0 0 rg BT 516.72 322.25 Td (ficer) Tj ET Q q 0 0 0 rg BT 534.64 322.25 Td (, of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.25 Td (the ef) Tj ET Q q 0 0 0 rg BT 72.30 310.25 Td (fectiveness of our disclosure controls and procedures as of the end of the period covered by this report. Based on that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.25 Td (evaluation, our Chief Executive Of) Tj ET Q q 0 0 0 rg BT 190.05 298.25 Td (ficer and Chief Financial Of) Tj ET Q q 0 0 0 rg BT 302.60 298.25 Td (ficer concluded that our disclosure controls and procedures were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.25 Td (ef) Tj ET Q q 0 0 0 rg BT 57.59 286.25 Td (fective as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.95 286.25 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.21 286.25 Td (, to provide reasonable assurance that information required to be disclosed in our reports ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.25 Td (filed or submitted under the Exchange ) Tj ET Q q 0 0 0 rg BT 204.96 274.25 Td (Act is \(i\)recorded, processed, summarized and reported within the time periods ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.25 Td (specified in the Securities and Exchange Commission) Tj ET Q q 0 0 0 rg BT 267.73 262.25 Td (s rules and forms, and \(ii\)accumulated and communicated to our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.25 Td (management, including our Chief Executive Of) Tj ET Q q 0 0 0 rg BT 239.76 250.25 Td (ficer and Chief Financial Of) Tj ET Q q 0 0 0 rg BT 352.31 250.25 Td (ficer) Tj ET Q q 0 0 0 rg BT 370.23 250.25 Td (, as appropriate to allow timely decisions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.25 Td (regarding required disclosure.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 214.25 Td (No change occurred in our internal controls over financial reporting \(asdefined in Rule13a-15\(f\) of the Exchange ) Tj ET Q q 0 0 0 rg BT 527.27 214.25 Td (Act\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.25 Td (during the quarter ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.52 202.25 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.78 202.25 Td ( that has materially af) Tj ET Q q 0 0 0 rg BT 317.23 202.25 Td (fected, or is reasonably likely to materially af) Tj ET Q q 0 0 0 rg BT 498.65 202.25 Td (fect, our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.25 Td (internal controls over financial reporting.) Tj ET Q endstream endobj 89 0 obj <> endobj 90 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (42) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 226.70 742.25 Td (P) Tj ET Q q 0 0 0 rg BT 232.07 742.25 Td (AR) Tj ET Q q 0 0 0 rg BT 246.16 742.25 Td (T) Tj ET Q q 0 0 0 rg BT 252.65 742.25 Td (IIOTHER INFORMA) Tj ET Q q 0 0 0 rg BT 359.69 742.25 Td (TION) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.25 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 718.25 Td (Item 1. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 84.99 718.25 Td (Legal Proceedings.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 694.25 Td (The Company is subject to various legal proceedings and claims that arise in the ordinary course of business and from time ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (to time, the Company is also subject to other types of litigation. Please see the description below for information concerning a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (purported derivative and class action lawsuit. ) Tj ET Q q 0 0 0 rg BT 233.00 670.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.45 670.25 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.71 670.25 Td (, neither the Company nor any of its subsidiaries was a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (party to any pending legal proceeding which the Company believed was material.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 634.25 Td (On ) Tj ET Q q 0 0 0 rg BT 82.17 634.25 Td (August 1) Tj ET Q q 0 0 0 rg BT 118.19 634.25 Td (1, 2016, a purported derivative and class action lawsuit, Gambur) Tj ET Q q 0 0 0 rg BT 376.27 634.25 Td (g v) Tj ET Q q 0 0 0 rg BT 388.12 634.25 Td (. Hines Real Estate Investment ) Tj ET Q q 0 0 0 rg BT 513.46 634.25 Td (T) Tj ET Q q 0 0 0 rg BT 519.22 634.25 Td (rust, Inc., ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.25 Td (et al., No.24-C-16-004496, was filed in the Circuit Court for Baltimore City) Tj ET Q q 0 0 0 rg BT 355.97 622.25 Td (, against the Company) Tj ET Q q 0 0 0 rg BT 444.75 622.25 Td (, our ) Tj ET Q q 0 0 0 rg BT 465.02 622.25 Td (Advisor and its owners, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.25 Td (certain af) Tj ET Q q 0 0 0 rg BT 87.29 610.25 Td (filiated entities and current and former members of the Board, alleging, among other things, that they breached their ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.25 Td (fiduciary) Tj ET Q q 0 0 0 rg BT 85.44 598.25 Td (, contractual and other duties, caused the waste of corporate assets, and misappropriated corporate assets in connection ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.25 Td (with certain payments related to the participation interest that are expected to be made to certain af) Tj ET Q q 0 0 0 rg BT 444.65 586.25 Td (filiated entities in connection ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.25 Td (with the Plan of Liquidation and in connection with other payments that have previously been made to entities af) Tj ET Q q 0 0 0 rg BT 501.37 574.25 Td (filiated with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (our ) Tj ET Q q 0 0 0 rg BT 65.28 562.25 Td (Advisor) Tj ET Q q 0 0 0 rg BT 96.95 562.25 Td (. ) Tj ET Q q 0 0 0 rg BT 101.77 562.25 Td (The plaintif) Tj ET Q q 0 0 0 rg BT 148.52 562.25 Td (fs filed an amended complaint on October 20, 2016. ) Tj ET Q q 0 0 0 rg BT 361.61 562.25 Td (The amended complaint seeks monetary damages ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 Td (from the entities af) Tj ET Q q 0 0 0 rg BT 125.63 550.25 Td (filiated with our ) Tj ET Q q 0 0 0 rg BT 192.00 550.25 Td (Advisor and individual defendants as well as a variety of equitable and injunctive relief ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.25 Td (against all parties, including enjoining any distributions pursuant to the Plan of Liquidation, enjoining the dissolution of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.25 Td (Company and seeking attorneys) Tj ET Q q 0 0 0 rg BT 180.62 526.25 Td ( fees and expenses, and unspecified actual and punitive damages. ) Tj ET Q q 0 0 0 rg BT 443.67 526.25 Td (W) Tj ET Q q 0 0 0 rg BT 452.31 526.25 Td (e intend to seek dismissal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (of the derivative claims. ) Tj ET Q q 0 0 0 rg BT 148.95 514.25 Td (The Company and the other defendants believe the purported direct claims, as well as the derivative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td (claims, against them are wholly without merit and intend to vigorously defend against them. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 472.25 Td (Item1A. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 92.21 472.25 Td (Risk Factors.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 448.25 Td ( ) Tj ET Q q 0 0 0 rg BT 70.32 448.25 Td (W) Tj ET Q q 0 0 0 rg BT 78.96 448.25 Td (e are subject to a number of risks and uncertainties, which are discussed in Part I, Item 1A, Risk Factors in our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.44 448.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.44 448.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 436.25 Td (Annual Report. ) Tj ET Q q 0 0 0 rg BT 113.97 436.25 Td (There have been no material changes to the risk factors set forth under Part I, Item 1A, Risk Factors in our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 424.25 Td (Annual Report on Form 10-K for the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.34 424.25 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.92 424.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 412.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 400.25 Td (Item 2.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 79.99 400.25 Td ( Unregistered Sales of Equity Securities and Use of Proceeds.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 376.25 Td (During the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.55 376.25 Td (nine months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.09 376.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.59 376.25 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.85 376.25 Td (, we did not sell or issue any equity securities that were not registered ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 364.25 Td (under the Securities ) Tj ET Q q 0 0 0 rg BT 131.37 364.25 Td (Act of 1933, as amended. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 340.25 Td (On May 31, 2016, our board of directors voted to suspend indefinitely our share redemption program, ef) Tj ET Q q 0 0 0 rg BT 485.22 340.25 Td (fective as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 328.25 Td (June30, 2016. ) Tj ET Q q 0 0 0 rg BT 112.78 328.25 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 162.11 328.25 Td (, there were no share redemptions during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.89 328.25 Td (three months ended September 30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.96 328.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 304.25 Td (Item 3. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 84.99 304.25 Td (Defaults Upon Senior Securities.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 280.25 Td (Not applicable.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 256.25 Td (Item 4. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 84.99 256.25 Td (Mine Safety Disclosures.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 232.25 Td (Not applicable.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 208.25 Td (Item 5. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 84.99 208.25 Td (Other Information.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 184.25 Td (Not applicable.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 160.25 Td (Item6. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 84.99 160.25 Td (Exhibits.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 136.25 Td (The exhibits required by this item are set forth on the ExhibitIndex attached hereto.) Tj ET Q endstream endobj 91 0 obj <> endobj 92 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (43) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 273.85 742.25 Td (SIGNA) Tj ET Q q 0 0 0 rg BT 304.78 742.25 Td (TURES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 718.25 Td (Pursuant to the requirements of the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 294.05 718.25 Td (Act of 1934, the registrant has duly caused this report to be signed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (on its behalf by the undersigned thereunto duly authorized.) Tj ET Q 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 640.75 m 461.5 640.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 567.75 m 461.5 567.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.00 674.32 Td (HINES REAL ESTATE INVESTMENT TRUST, INC.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 646.32 Td (November 14, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.00 646.32 Td (By:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 646.32 Td (/s/ SHERRI W. SCHUGART) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 631.32 Td (Sherri W. Schugart) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 616.32 Td (President and Chief Executive Officer) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 573.32 Td (November 14, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.00 573.32 Td (By:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 573.32 Td (/s/RYAN T. SIMS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 558.32 Td (Ryan T. Sims) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 543.32 Td (Chief Financial Officer and Secretary) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 93 0 obj <> endobj 94 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (44) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 267.30 742.25 Td (EXHIBIT) Tj ET Q q 0 0 0 rg BT 309.91 742.25 Td ( INDEX) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.00 730.25 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 695.75 45.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 95.50 695.75 16.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 111.50 695.75 451.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 635.75 45.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 95.50 635.75 16.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 111.50 635.75 451.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 575.75 45.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 95.50 575.75 16.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 111.50 575.75 451.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 525.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 95.50 525.75 16.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 111.50 525.75 451.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 475.75 45.00 -65.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 95.50 475.75 16.00 -65.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 111.50 475.75 451.00 -65.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 695.75 m 95.5 695.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 111.5 695.75 m 562.5 695.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.65 710.43 Td (Exhibit) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 65.10 700.43 Td (No.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 114.00 700.43 Td (Description) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.50 686.32 Td (2.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 686.32 Td (Plan of Complete Liquidation and Dissolution of Hines Real Estate Investment Trust, Inc. \(filed as Exhibit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 676.32 Td (99.1 to the registrants Current Report on Form 8-K on June 30, 2016 and incorporated by reference herein\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.50 661.32 Td (3.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 660.42 Td (Second Amended and Restated Articles of Incorporation of Hines Real Estate Investment Trust, Inc. \(filed as) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 650.42 Td (Exhibit3.1 to the registrants Current Report on Form 8-K on July 13, 2007 and incorporated by reference) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 640.42 Td (herein\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.50 626.32 Td (3.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 625.42 Td (Second Amended and Restated Bylaws of Hines Real Estate Investment Trust, Inc. \(filed as Exhibit3.1 to the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 615.42 Td (registrants Current Report on Form8-K on August 3, 2006 and incorporated by reference herein\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.50 601.32 Td (3.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 600.42 Td (Amendment No. 1 to Second Amended and Restated Bylaws of Hines Real Estate Investment Trust, Inc. \(filed) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 590.42 Td (as Exhibit 3.1 to the registrants Current Report on Form 8-K on September 21, 2015 and incorporated by) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 580.42 Td (reference herein\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.50 566.32 Td (4.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 565.42 Td (Hines Real Estate Investment Trust, Inc. Dividend Reinvestment Plan \(included as Appendix A to the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 555.42 Td (prospectus contained in the registrants Registration Statement on Form S-3 \(file No. 333-182401\) filed on) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 545.42 Td (June 28, 2012 and incorporated by reference herein\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.50 531.32 Td (31.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.00 531.32 Td (*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 530.42 Td (Certification.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.50 516.32 Td (31.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.00 516.32 Td (*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 515.42 Td (Certification.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.50 501.32 Td (32.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.00 501.32 Td (*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 500.42 Td (Certification of Chief Executive Officer and Chief Financial Officer pursuant to 18U.S.C., Section1350, as) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 490.42 Td (adopted pursuant to Section906 of the Sarbanes-Oxley Act of 2002. Pursuant to SEC Release 34-47551 this) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 480.42 Td (Exhibit is furnished to the SEC herewith and shall not be deemed to be filed.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 466.32 Td (101) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.00 466.32 Td (*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 465.42 Td (The following materials from Hines Real Estate Investment Trust, Inc.s Quarterly Report on Form 10-Q for) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 455.42 Td (the quarter ended September 30, 2016, filed on November 14, 2016, formatted in XBRL \(eXtensible Business) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 445.42 Td (Reporting Language\): \(i\) Condensed Consolidated Balance Sheets, \(ii\) Condensed Consolidated Statements of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 435.42 Td (Operations and Comprehensive Income \(Loss\), \(iii\) Condensed Consolidated Statements of Equity, \(iv\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 425.42 Td (Condensed Consolidated Statements of Cash Flows, and \(v\) Notes to the Condensed Consolidated Financial) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.00 415.42 Td (Statements.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 391.32 Td (*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.00 391.32 Td (Filed herewith) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 95 0 obj <> endobj 96 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 499.35 742.25 Td (EXHIBIT) Tj ET Q q 0 0 0 rg BT 541.96 742.25 Td (31.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 265.70 718.25 Td (CER) Tj ET Q q 0 0 0 rg BT 286.46 718.25 Td (TIFICA) Tj ET Q q 0 0 0 rg BT 320.72 718.25 Td (TION) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 230.05 706.25 Td (PURSUANT) Tj ET Q q 0 0 0 rg BT 284.32 706.25 Td ( ) Tj ET Q q 0 0 0 rg BT 286.64 706.25 Td (T) Tj ET Q q 0 0 0 rg BT 293.13 706.25 Td (O SECTION302 OF) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 217.55 694.25 Td (THE SARBANES-OXLEY) Tj ET Q q 0 0 0 rg BT 333.04 694.25 Td ( ) Tj ET Q q 0 0 0 rg BT 334.99 694.25 Td (ACT) Tj ET Q q 0 0 0 rg BT 355.92 694.25 Td ( OF) Tj ET Q q 0 0 0 rg BT 371.93 694.25 Td ( 2002) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (I, Sherri ) Tj ET Q q 0 0 0 rg BT 85.09 670.25 Td (W) Tj ET Q q 0 0 0 rg BT 93.61 670.25 Td (. Schugart, certify that:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 646.25 Td (1. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 646.25 Td (I have reviewed this Quarterly Report on Form 10-Q of Hines Real Estate Investment ) Tj ET Q q 0 0 0 rg BT 430.73 646.25 Td (T) Tj ET Q q 0 0 0 rg BT 436.48 646.25 Td (rust, Inc.;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 622.25 Td (2. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 622.25 Td (Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 610.25 Td (fact necessary to make the statements made, in light of the circumstances under which such statements were made, not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 598.25 Td (misleading with respect to the period covered by this report;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 574.25 Td (3. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 574.25 Td (Based on my knowledge, the financial statements, and other financial information included in this report, fairly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 562.25 Td (present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 550.25 Td (for) Tj ET Q q 0 0 0 rg BT 97.26 550.25 Td (, the periods presented in this report;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 526.25 Td (4. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 526.25 Td (The registrant) Tj ET Q q 0 0 0 rg BT 144.59 526.25 Td (s other certifying of) Tj ET Q q 0 0 0 rg BT 223.55 526.25 Td (ficer\(s\) and I are responsible for establishing and maintaining disclosure controls ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 514.25 Td (and procedures \(as defined in Exchange ) Tj ET Q q 0 0 0 rg BT 247.60 514.25 Td (Act Rules13a-15\(e\) and 15d-15\(e\)\) and internal control over financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 502.25 Td (reporting \(as defined in Exchange ) Tj ET Q q 0 0 0 rg BT 223.45 502.25 Td (Act Rules13a-15\(f\) and 15d-15\(f\)\) for the Registrant and have:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 478.25 Td (a. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 478.25 Td (designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 466.25 Td (designed under our supervision, to ensure that material information relating to the registrant, including its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 454.25 Td (consolidated subsidiaries, is made known to us by others within those entities, particularly during the period ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 442.25 Td (in which this report is being prepared;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 418.25 Td (b. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 418.25 Td (designed such internal control over financial reporting, or caused such internal control over financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 406.25 Td (reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 394.25 Td (financial reporting and the preparation of financial statements for external purposes in accordance with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 382.25 Td (generally accepted accounting principles;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 358.25 Td (c. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 358.25 Td (evaluated the ef) Tj ET Q q 0 0 0 rg BT 185.12 358.25 Td (fectiveness of the registrant) Tj ET Q q 0 0 0 rg BT 298.13 358.25 Td (s disclosure controls and procedures and presented in this report ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 346.25 Td (our conclusions about the ef) Tj ET Q q 0 0 0 rg BT 234.57 346.25 Td (fectiveness of the disclosure controls and procedures, as of the end of the period ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 334.25 Td (covered by this report based on such evaluation; 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and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 154.25 Td (b. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 154.25 Td (any fraud, whether or not material, that involves management or other employees who have a significant role ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 142.25 Td (in the registrant) Tj ET Q q 0 0 0 rg BT 187.54 142.25 Td (s internal control over financial reporting.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.25 Td () Tj ET Q 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 281.5 104.75 m 477.5 104.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 110.32 Td (Date:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 83.00 110.32 Td (November 14, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 213.00 110.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.00 110.32 Td (By:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.00 110.32 Td (/s/ SHERRI W. SCHUGART) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 110.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 83.00 95.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 213.00 95.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.00 95.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.00 95.32 Td (Sherri W. Schugart) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 95.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 83.00 80.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 213.00 80.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.00 80.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.00 80.32 Td (President and Chief Executive Officer) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 80.32 Td () Tj ET Q BT /F1 10.00 Tf ET endstream endobj 97 0 obj <> endobj 98 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 499.35 742.25 Td (EXHIBIT) Tj ET Q q 0 0 0 rg BT 541.96 742.25 Td (31.2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 265.70 718.25 Td (CER) Tj ET Q q 0 0 0 rg BT 286.46 718.25 Td (TIFICA) Tj ET Q q 0 0 0 rg BT 320.72 718.25 Td (TION) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 230.05 706.25 Td (PURSUANT) Tj ET Q q 0 0 0 rg BT 284.32 706.25 Td ( ) Tj ET Q q 0 0 0 rg BT 286.64 706.25 Td (T) Tj ET Q q 0 0 0 rg BT 293.13 706.25 Td (O SECTION302 OF) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 217.55 694.25 Td (THE SARBANES-OXLEY) Tj ET Q q 0 0 0 rg BT 333.04 694.25 Td ( ) Tj ET Q q 0 0 0 rg BT 334.99 694.25 Td (ACT) Tj ET Q q 0 0 0 rg BT 355.92 694.25 Td ( OF) Tj ET Q q 0 0 0 rg BT 371.93 694.25 Td ( 2002) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (I, R) Tj ET Q q 0 0 0 rg BT 64.60 670.25 Td (yan ) Tj ET Q q 0 0 0 rg BT 81.36 670.25 Td (T) Tj ET Q q 0 0 0 rg BT 86.72 670.25 Td (. Sims, certify that:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 634.25 Td (1. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 634.25 Td (I have reviewed this Quarterly Report on Form 10-Q of Hines Real Estate Investment ) Tj ET Q q 0 0 0 rg BT 430.73 634.25 Td (T) Tj ET Q q 0 0 0 rg BT 436.48 634.25 Td (rust, Inc.;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 610.25 Td (2. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 610.25 Td (Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 598.25 Td (fact necessary to make the statements made, in light of the circumstances under which such statements were made, not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 586.25 Td (misleading with respect to the period covered by this report;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 562.25 Td (3. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 562.25 Td (Based on my knowledge, the financial statements, and other financial information included in this report, fairly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 550.25 Td (present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 538.25 Td (for) Tj ET Q q 0 0 0 rg BT 97.26 538.25 Td (, the periods presented in this report;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 514.25 Td (4. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 514.25 Td (The registrant) Tj ET Q q 0 0 0 rg BT 144.59 514.25 Td (s other certifying of) Tj ET Q q 0 0 0 rg BT 223.55 514.25 Td (ficer\(s\) and I are responsible for establishing and maintaining disclosure controls ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 502.25 Td (and procedures \(as defined in Exchange ) Tj ET Q q 0 0 0 rg BT 247.60 502.25 Td (Act Rules13a-15\(e\) and 15d-15\(e\)\) and internal control over financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 490.25 Td (reporting \(as defined in Exchange ) Tj ET Q q 0 0 0 rg BT 223.45 490.25 Td (Act Rules13a-15\(f\) and 15d-15\(f\)\) for the Registrant and have:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 466.25 Td (a. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 466.25 Td (designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 454.25 Td (designed under our supervision, to ensure that material information relating to the registrant, including its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 442.25 Td (consolidated subsidiaries, is made known to us by others within those entities, particularly during the period ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 430.25 Td (in which this report is being prepared;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 406.25 Td (b. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 406.25 Td (designed such internal control over financial reporting, or caused such internal control over financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 394.25 Td (reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 382.25 Td (financial reporting and the preparation of financial statements for external purposes in accordance with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 370.25 Td (generally accepted accounting principles;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 346.25 Td (c. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 346.25 Td (evaluated the ef) Tj ET Q q 0 0 0 rg BT 185.12 346.25 Td (fectiveness of the registrant) Tj ET Q q 0 0 0 rg BT 298.13 346.25 Td (s disclosure controls and procedures and presented in this report ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 334.25 Td (our conclusions about the ef) Tj ET Q q 0 0 0 rg BT 234.57 334.25 Td (fectiveness of the disclosure controls and procedures, as of the end of the period ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 322.25 Td (covered by this report based on such evaluation; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 298.25 Td (d. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 298.25 Td (disclosed in this report any change in the registrant) Tj ET Q q 0 0 0 rg BT 328.61 298.25 Td (s internal control over financial reporting that occurred ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 286.25 Td (during the registrant) Tj ET Q q 0 0 0 rg BT 205.87 286.25 Td (s most recent fiscal quarter \(the registrant) Tj ET Q q 0 0 0 rg BT 374.69 286.25 Td (s fourth fiscal quarter in the case of an annual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 274.25 Td (report\) that has materially af) Tj ET Q q 0 0 0 rg BT 235.66 274.25 Td (fected, or is reasonably likely to materially af) Tj ET Q q 0 0 0 rg BT 417.07 274.25 Td (fect, the registrant) Tj ET Q q 0 0 0 rg BT 492.32 274.25 Td (s internal control ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 262.25 Td (over financial reporting; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 238.25 Td (5. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 238.25 Td (The registrant) Tj ET Q q 0 0 0 rg BT 144.59 238.25 Td (s other certifying of) Tj ET Q q 0 0 0 rg BT 223.55 238.25 Td (ficer\(s\) and I have disclosed, based on our most recent evaluation of internal control ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 226.25 Td (over financial reporting, to the registrant) Tj ET Q q 0 0 0 rg BT 250.94 226.25 Td (s auditors and the audit committee of the registrant) Tj ET Q q 0 0 0 rg BT 457.00 226.25 Td (s board of directors \(or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 214.25 Td (persons performing the equivalent functions\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 190.25 Td (a. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 190.25 Td (all significant deficiencies and material weaknesses in the design or operation of internal control over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 178.25 Td (financial reporting which are reasonably likely to adversely af) Tj ET Q q 0 0 0 rg BT 370.05 178.25 Td (fect the registrant) Tj ET Q q 0 0 0 rg BT 442.80 178.25 Td (s ability to record, process, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 166.25 Td (summarize and report financial information; 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