Since 1971, Marcus & Millichap Real Estate Investment Brokerage Company has been the premier provider of investment real estate brokerage services. With 36 offices and more than 800 investment professionals throughout the United States, Marcus & Millichap is the largest brokerage firm focused exclusively on investments. By specializing 100 percent on investments an organizing our sales force into property specialty groups, we provide clients with superior market knowledge an transaction expertise geared specifically to the unique requirements of each property type. Employing the industry' most powerful marketing system, the essence of Marcus & Millichap's value proposition is our ability to "make a market" for each property through expanded market exposure, which generates the broadest buyer interest and results in maximum value. We combine comprehensive market research, state-of-the-art technology and communications systems with access to the industry's largest pool of private and institutional investors. The result is the most efficient process for matching buyers and sellers. In 2003, Marcus & Millichap closed 3,800 investment transactions for private investors, as well as institutions, REITs and developers. This sales record allows our agents to provide clients with an unparalleled perspective on the investment real estate market locally, regionally and nationally. We offer investment expertise in all major property types, including apartments, retail, office, industrial, single tenant net-lease, seniors housing, hospitality and lodging, manufactured housing, self-storage and land. Currently with more than 500 brokers in 34 markets throughout the United States, Marcus & Millichap has established itself as a leading investment real estate company, quickly responding to market conditions and requirements by launching operations in five markets between 1995 and 1997 including Atlanta; Miami/Ft. Lauderdale; Washington D.C.; Ft. Lee, N.J.; and Detroit. In 1998, the firm continued its expansion into the Eastern and Southeastern United States by opening offices in Tampa, Orlando and Philadelphia. In 1999, the firm opened offices in Manhattan, New Haven, and Columbus and Cincinnati, Ohio. ©2004 Seth Polen, Los Angeles Office (213) 607-5057 (213) 489-7258 Fax spolen@marcusmillichap.com