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Morrison Street Fund I, LP

Beginning in 2003, on behalf of Morrison Street Fund I, LP, Morrison Street Capital assembled a diversified $176 million portfolio of office, industrial, retail and multi-family properties. Fund I's portfolio included investments in Oregon, Washington, Idaho, Nevada, Colorado and Arizona. The discretionary nature of the Fund's capital allowed Morrison Street Capital to respond quickly and effectively to market opportunities and to conduct detailed and timely underwriting of the Fund's investments.

This summary is neither an offer to sell nor a solicitation to buy any securities. Any such offers and solicitations may be made only pursuant to a private placement memorandum for each fund.

Integrity • Flexibility • Ingenuity

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