Astrum Investment Management ("AIM") is the originator of the
"Sale Lease-Back Buy-Back" (SLB3^SM) strategy.

A Sale Lease-Back Buy-Back (SLB3^SM) is best suited to companies that require capital to grow but want to own their properties long-term. Through the SLB3^SM program, AIM offers companies a unique and cost effective way to free up capital while deleveraging the company.

SLB3^SM is the purchase of the business property(s) from the Company, the long-term (20 years) leaseback by the Company, and the optional repurchase of the property(s) by the Company at a pre-determined price after year 5 of the lease. A key differentiator, which cannot be stressed enough, is the buyback feature.

AIM is a principal providing capital to investment and sub-investment grade middle-market companies and private equity firms seeking to realize liquidity and value tied up in corporate real estate. Unlike others who focus only on investment grade companies, AIM works with companies experiencing temporary financial difficulties and companies experiencing rapid growth.

AIM underwrites each transaction as a partnership and work closely with management to achieve their financial objectives. With over a half century of corporate and real estate valuation experience AIM excels at transactions others are unable or unwilling to underwrite.

Typical Company Characteristics

• Own & occupy industrial, warehouse, R&D and occasionally office properties
• Property(s) valued at $8-$15 million;
• Generate annual sales of $20 to $250 million per year
• Middle and lower-middle market entities that are growing or primed for growth; and,
• Financially viable for lease payments and buyback.

Benefits to the Company

• Immediate liquidity (Cash at Closing);
• Ability to invest in higher-return core business;
• Pay down more expensive or constraining debt;
• Cash for acquisitions or working capital;
• Enhanced financial ratios and borrowing capacity;
• Option to reacquire the real estate at a fixed price at the end of year 5; and,
• No personal guarantees by Founders/Owners.

Typical Transaction Structure

• Preferred investment: single tenant properties, triple net (NNN) lease
• Single buildings or Portfolios
• Cap Rate Range: 10-12%
• Lease: 20+ year term
• Annual rent escalations: 2% per annum years 2-5, 4% or CPI per annum thereafter
• Repurchase option: Set at time of purchase by AIM