This webpage is intended solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy any securities. Any such offer or solicitation will be made only through a Confidential Offering Memorandum and related offering documents, and only to persons who are accredited investors as defined in SEC rules who can bear the loss of their entire investment. Prospective investors should carefully review all offering documents and consult with their own legal, tax, and financial advisors before investing. Cash distributions and any specific returns are not guaranteed.

An investment in commercial real estate is speculative and subject to risk, including the risk that all your investment may be lost. These materials may contain “forward looking statements” and actual results may differ from any expectations, projections, or predictions made based upon such forward looking statements. Prospective investors are cautioned against placing undue reliance on such forward-looking statements.

FNRP does not provide legal or tax advice. The information provided herein is for informational purposes only and does not constitute legal, tax, investment, or accounting advice. The descriptions of tax treatments, including, but not limited to, 100% bonus depreciation under the One Big Beautiful Bill Act of 2025, are general in nature and subject to change without notice. The application and impact of tax laws can vary widely based on the specific facts and circumstances of each investor. As such, prospective investors and other recipients of this material should first consult with their own independent legal and tax advisors regarding their particular situation and the potential tax implications and benefits of any real estate investment. FNRP cannot guarantee that you will receive the tax benefits or advantages outlined herein.

Securities are only available to verified accredited investors who can bear the loss of their investment. Please contact FNRP for an explanation of how such numbers are calculated. Past performance may not be indicative of future results. An investment in real estate is speculative and subject to risk and as such there cannot be any assurance, promise or guarantee as to the final results of any specific investment or investment strategy into securities offered by FNRP or that such investment will achieve specific investment goals. Total acquisitions closed are calculated using the purchase price and closing costs of closed transactions to date.

1. Targeted Net IRR is defined as the annualized, compound rate of return using equity contributions and distributions as they occurred on specific dates during the investment period. Net IRR is reflective of all fees charged and paid to First National Realty Partners LLC and its affiliates and subsidiaries. “Targeted” refers to a goal which may or may not be attained based on a variety of assumptions which may or may not be realized. Securities are only available to verified accredited investors who can bear the loss of their investment. Please contact FNRP for an explanation of how such numbers are calculated.
2. Targeted Net Equity Multiple is the total distributions and remittances to equity investors divided by the total equity contributions from investors during the investment period. Targeted Net Equity Multiple is reflective of all fees charged and paid to First National Realty Partners LLC and its affiliates and subsidiaries. “Targeted” refers to a goal which may or may not be attained based on a variety of assumptions which may or may not be realized.
3. Targeted Average Cash-on-Cash is targeted annual cash flow return on invested equity over the projected hold period. All projected Cash-on-Cash returns are reflective of all fees charged and paid to First National Realty Partners and its affiliates and subsidiaries. Cash distributions and any specific returns are not guaranteed. “Targeted” refers to a goal which may or may not be attained based on a variety of assumptions which may or may not be realized.
4. All products, company names, logos, brands, and other trademarks or images are the property of their respective owners and trademark holders. They are not affiliated with FNRP and use or reference to them does not imply any affiliation or endorsement by them.
5. Note: An investment in commercial real estate is subject to risk, including the risk that all of your investment may be lost. Any representations concerning investing in commercial real estate, including, without limitation, any representations as to stability, diversification, security, resistance to inflation and any other representations as to the merits of investing in commercial real estate reflect our belief concerning the representations and may or may not come to be realized. The ability to make distributions or the amount of distributions may be affected by factors such as debt and lender restrictions, future capital expenditure needs, and financial performance of the property. Cash distributions and any specific returns are not guaranteed.

2

PROPERTY 
SELECTION

Review available investment offerings & confirm investment amount with Investor Relations.

1-2 WEEKS

3

INVESTMENT EXECUTION

Complete legal documentation and funds transfer.

1-2 WEEKS

4

ONGOING MANAGEMENT & DISTRIBUTIONS*

Receive quarterly cash distributions* and updates from our asset management team.

QUARTERLY

1.4x-1.6x

TARGETED EQUITY MULTIPLE ²

1.4x-1.6x

TARGETED EQUITY MULTIPLE ²

5.75-6.25%

TARGETED AVERAGE CASH-ON-CASH ³

5.75-6.25%

TARGETED AVERAGE CASH-ON-CASH ³

9-10%

TARGETED NET IRR ¹

9-10%

TARGETED NET IRR ¹

Two newer outparcels are leased long-term to Starbucks and Mr. Chicken, each operating under multi-year NNN lease agreements, while the 2018 construction reflects modern, institution-grade quality. This recent build is expected to reduce capital needs and supports long-term operational efficiency.

Modern, Recent Construction

This Marc’s location is #1 in foot traffic among all 61 locations and reports strong sales, including percentage rent that may rise with future growth. The grocer anchors roughly 70% of revenue under a long-term lease, supported by a mix of national and regional tenants like Starbucks, AT&T, Great Clips, and Mr. Chicken.

Top-Performing Marc's Location & Diverse Tenants

Sources: Placer.AI

Premier Infill Location in the Cleveland MSA

The center fronts Mayfield Road with strong visibility and serves 117,000 nearby residents with household incomes above $113K.* It’s the only grocery-anchored center in the trade area, offering limited competition. FNRP also brings deep Cleveland market experience with four local assets, including two within 10 miles.

Sources: U.S. Census and Sites USA

We see potential to lease 3,500 SF of vacancy to boost NOI, while also exploring a parcelization strategy where Marc’s, Starbucks, or Mr. Chicken could be sold individually at lower cap rates. In-place rents for inline tenants average 15% below market, providing an opportunity to drive NOI growth over the hold period.

Value Creation Through Leasing & Parcelization