Republic Property Trust (RPB), a NYSE publicly-traded real estate investment trust.

• Initial public offering occurred in 2005.
• IPO raised $252 million in capital at $12/share.
• 90% owned by institutional investors including Cohen & Steers, Morgan Stanley and JP Morgan.
• Professional team included Hogan Hartson, E & Y, Latham Watkins, Goldman Sachs, Bear Stearns, Key Bank, Raymond James and UBS.
• Average annual dividend of 7%.
• Increased portfolio to $1 billion.
• Sold company in 2007 to Liberty Property Trust, delivering IRR in excess of 25%.

1129 20th Street, Washington, D.C. CBD

Asset Class: Dev. Office CBD Size: 175,000sf Acquired: 2006 Sold: 2006 Annual dividend: NA IRR: 12%+ Loan to value: 75% Purchaser: RPT

Presidents Park, Washington, D.C. Metropolitan Area

Asset Class: Office Park Size: 600,000sf Acquired: 2005 Sold: 2005 Annual dividend: NA IRR: 35.9% Loan to value: 75% Purchaser: RKB Fund, RPT

Republic Park, Washington, D.C. Metropolitan Area

Asset Class: Office Park Size: 350,000sf Acquired: 2004 Sold: 2005 Annual dividend: 10% est. IRR: 35.9% Loan to value: 70% Purchaser: RKB Fund, RPT

WillowWood Plaza, Washington, D.C. Metropolitan Area

Asset Class: Office Park Size: 500,000sf Acquired: 2004-06 Sold: 2005-06 Annual dividend: 12% est. IRR: 35.9% Loan to value: 75% Purchaser: RKB Fund, RPT