Parmenter Announces 3rd Acquisition In Fund IV

FOR IMMEDIATE RELEASE

Contact: Ellen Wisniewski
Telephone: (305) 379-7500
Email: mediarelations@parmco.com

Parmenter Announces 3rd Acquisition In Fund IV

Parmenter Realty Partners announced today the acquisition of Brookhollow Plaza I, II and III; a
Class A, three-building, 806,000 square-foot office project in Houston, Texas. This acquisition
is Parmenter Realty’s second in Houston and the third purchase for Parmenter Realty Fund IV.

Leases are held for 91% of the available leasing capacity for Brookhollow II and III with
Brookhollow I now prepared for its $9 million renovation in anticipation of upcoming tenants.
The renovation will include new entryways, elevators, HVAC systems, lobbies and tenant
common areas.

“Upon completion of the renovation, which is expected to take nine months, Brookhollow will in
effect, be a new building,” said Steve Bronner, Managing Principal of Parmenter Realty’s
Southwest Region. “We will offer tenants an exceptional value in comparison to the competition
in combination with offering our tenants great accessibility to the Houston metropolitan area.”
Parmenter Realty Fund IV is focused on purchasing distressed assets in the southern half of the
United States. “We believe the acquisition of Brookhollow offers a significant opportunity to add
asset value by increasing our in-place revenues,” said Andrew Weiss, Chief Operating Officer of
Parmenter Realty Partners.

Financing was provided by CIBC Capital Markets. Parmenter was represented by Wally Reed of
Holiday Fenegolio Fowler
About Parmenter Realty Partners

Parmenter Realty Partners is a real estate investment, management and development company
that operates a series of institutional investment funds focused on the Southern Tier of the US.
Headquartered in South Florida, Parmenter has regional offices in Dallas and Atlanta. Actively
involved in the expansion of its portfolio in the major markets in this region, Parmenter identifies
and acquires underperforming properties and utilizes its vertically integrated platform to increase
value on behalf of its investors.

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For more information on this topic please contact Parmenter Media Relations by calling (305) 379-7500 or via e-mail at MediaRelations@parmco.com.