Joint Venture Platforms

• A 50% interest in Concord Debt Holdings LLC, a joint venture with Lexington Realty Trust, a NYSE listed REIT which we refer to as Lexington. Concord closed its first collateralized debt obligation (CDO) issued by two newly-formed subsidiaries of Concord. An aggregate of $377 million of investment grade-rated debt was issued and Concord retained an equity interest in the portfolio with a notional amount of $88 million. Concord currently owns a portfolio of loan obligations, including interests in first mortgage loans, commercial mortgage-backed securities, mezzanine loans and B notes which are subordinated junior participations in first mortgage loans. Concord has approximately $1.1 billion in assets. Both the Trust and Lexington have contributed and invested $162.5 million to and in Concord. All of Concord's loan assets are performing in accordance with their terms.
• 18 separate convertible mezzanine loans and equity investments accounted for as a preferred equity investment in 18 separate entities holding multi-tenanted office buildings, containing approximately 3.1 million square feet located in the Chicago, Illinois metropolitan and suburban area (one property is located in Lansing, Michigan) and two participating second mortgage loans on two multi-tenanted office properties containing more than 249,000 square feet located in suburban Chicago, which we refer to as the Marc Realty portfolio.
• An 80% interest in a partnership that owns approximately 126,000 square feet of retail and office space constituting the first six floors of a mixed-use building and 208 parking spaces located in Chicago, Illinois.
• An 8% controlling interest in a nine story, 614,000 square foot office building located in Houston, Texas that is 100% triple net leased to Spectra Energy Westheimer, LP (formerly known as Duke Energy Corp.). This property is commonly referred to as 5400 Westheimer.
• A 60% interest in a partnership that owns an approximately 54,000 square foot office property located in Lisle, Illinois.
• An initial 60% interest with Sealy & Company Inc. which joint venture acquired 12 flex properties containing an aggregate of 472,000 square feet of space located in Atlanta, Georgia. Pursuant to the terms of the joint venture agreement, Sealy controls the day-to-day operations of the joint venture and Winthrop has the right to vote on all material decisions.
• An initial 50% interest with Sealy & Company Inc. which joint venture acquired 13 light distribution and service center properties located in Nashville, Tennessee.
• A 60% interest with Marc Realty in a 241,000 square foot multi-tenant office building located in Chicago, Illinois known as River City.