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2959 FRUITVILLE RD | SARASOTA, FL 34237

O F F E R I N G M E M O R A N D U M

6.75%CAP RATE

8 YRSTERM REMAINING

$2.69 MPRICE

112SV P LOCATION S

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CONTENTS

03 EXECUTIVE OVERVIEW

06 FINANCIAL OVERVIEW

08 TENANT OVERVIEW

09 AREA OVERVIEW

LISTED BY:

ANDREW EVANSAssociateD: (949) 662-2256 M: (925) 360-0277E: andrew.evans@matthews.comLicense No. 02055475 (CA)

BROKER OF RECORDKYLE MATTHEWSLicense No. CQ1052263 (FL)

MICHAEL MORENOAssociate Vice President & DirectorD: (949) 432-4511 M: (818) 522-4497E: michael.moreno@matthews.comLicense No. 01982943 (CA)

RAHUL CHHAJEDAssociate Vice President & DirectorD: (949) 432-4513 M: (818) 434-1106E: rahul.chhajed@matthews.comLicense No. 01986299 (CA)

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PROPERTY HIGHLIGHTS• E-Commerce & Recession-Resistant Property – Veterinary properties are extremely

sought-after investments for their resistance to downturns in the economy and e-commerce trends that affect traditional retail properties

• Strong Performance History – Southern Veterinary Partners acquired the practice in 2018 because of the site’s strong, successful performance

• Tenant Investment in Location – Veterinary Clinics rarely relocate due to difficulty retaining the same patients in a new location, and high costs of moving

• Very Passive Lease Structure – This investment offers investors a potential investor a very passive “hands-off” investment

• Inflation-Protected Lease Structure – Lease Features 2% Annual Increases throughout base term and options

LOCATION HIGHLIGHTS• High-Traffic Corridor – Dr. Nina’s Animal Hospital is located on Fruitville Road, which is a

main corridor that runs throughout Sarasota, providing for fantastic visibility and access from surrounding trade area with traffic counts exceeding 50,000 VPD

• Strong Demographics – The asset caters to over 181,000 residents within a 5-mile radius who boasts an average household income of over $88,000; and has projected population growth of nearly 5% in a 1,3, and 5-mile radius

• Florida is an income tax-free state

LIST PRICE $2,697,333

YEAR 1 NOI $182,070

PROPERTY ADDRESS 2959 FRUITVILLE RDSARASOTA, FL 34237

CAP RATE6.75%±3,500 SF

GROSS LEASABLE AREA

LEASE TERM REMAINING±8 YEARS

EXECUTIVE OVERVIEW

SECTION

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TENANT HIGHLIGHTS• Private Equity Backing – Private Equity investment in Southern Veterinary Partners by

Shore Capital provides significant capital to expedite their expansion and acquisition of new hospitals across the country

• Expanding Operations – Southern Veterinary Partners (SVP) expands by acquiring existing veterinary practices that are already successful and established within the community. This allows them to quickly grow their footprint across new markets

• Robust Industry Growth – The global veterinary services market size is expected to reach $142 Billion by 2025, with a CAGR of 5.6% during that period. Consumers spent over $95 Billion on their pets in 2019 and that number is expected to grow to $99 Billion in 2020

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S A R A S O T AH I G H S C H O O L

T U R N E RM U S E U M

E D S M I T HS T A D I U M

F R U I T V I L L E R D± 5 0 , 0 0 0 V P D

T U T T L E A V E± 2 5 , 0 0 0 V P D

B A H I A V I S T A S T± 2 0 , 0 0 0 V P D

W A S H I N G T O N B LV D± 3 1 , 0 0 0 V P D

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FINANCIALOVERVIEW

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ANNUALIZED OPERATING DATA

LEASE YEARS MONTHLY RENT ANNUAL RENT CAP RATE

3/26/2020 - 3/26/2021 $15,172.50 $182,070.00 6.75%

3/26/2021 - 3/26/2022 $15,475.95 $185,711.40 6.89%

3/26/2022 - 3/26/2023 $15,785.47 $189,425.63 7.02%

3/26/2023 - 3/26/2024 $16,101.18 $193,214.14 7.16%

3/26/2024 - 3/26/2025 $16,423.20 $197,078.42 7.31%

3/26/2025 - 3/26/2026 $16,751.67 $201,019.99 7.45%

3/26/2026 - 3/26/2027 $17,086.70 $205,040.39 7.60%

3/26/2027 - 3/26/2028 $17,428.43 $209,141.20 7.75%

3/26/2028 - 3/26/2029 $17,777.00 $213,324.02 7.91%

PROPERTY SUMMARY

List Price $2,697,333

NOI $182,070

CAP Rate 6.75%

GLA 3,500

Year Built 2007

LEASE SUMMARY

Tenant Name Southern Veterinary Partners

Type of Ownership Fee Simple

Lease Type NN+ (Roof/Structure)

Original Lease Term 10 Years

Lease Commencement Date 3/26/18

Lease Expiration Date 3/26/28

Term Remaining ± 8 Years

Increases 2% Annually

Options One (1) Ten (10) Year Option

TENANT OVERVIEW

» H E A D Q U A R T E R SBIRMINGHAM, AL

» C O M P A N Y N A M ESOUTHERN VETERINARY PARTNERS

» L O C A T I O N S112 ANIMAL HOSPITALS

Dr. Nina’s Animal Hospital (SVP) has been opened since October of 2007 and provides preventative care, urgent care, emergency services, and standard medical procedures. The veterinarians at Dr. Nina’s believe that preventative care and pet owner education can help save pets in the Sarasota area. By catching medical conditions in their early stages, and by helping pet owners to provide proper care for their pets, the professionals at Dr. Nina’s Animal Hospital help keep pets safe. Dr. Nina’s provides medical care from birth through end of life for dogs, cats, ferrets, rabbits, guinea pigs and birds.

Based in Birmingham, Southern Veterinary Partners (SVP) is a mission-based veterinarian owned and operated regional network of animal hospitals in the South. SVP provides centralized support including marketing, HR, finance and inventory and purchasing management and enhanced benefits to the team members. By leveraging its infrastructure, SVP allows the hospitals in our network to focus on medicine and their patients to facilitate best-in-class veterinary services and exceptional client experiences. Southern Veterinary Partners has been named to the Inc. 5000 List of “Fastest Growing Companies in America” (#235 in 2018).

TENANT OVERVIEW

SECTION

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AREAOVERVIEW

SECTION

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SARASOTA, FLSarasota is a city in Sarasota County on the southwestern coast of Florida. The area is renowned for its cultural and environmental amenities, beaches, resorts, and the Sarasota School of Architecture.

Walkability around town and the variety of businesses available make for safe, healthy and convenient days. With downtown providing the dynamic heartbeat, this is a community with an abundance of outdoor activities both on the water and on land. Residents and visitors enjoy fishing, sailing, swimming, kayaking, and boating, and the indoor activities range from museums and galleries to shows and the opera. There is truly something for everyone at every age. Sarasota offers visitors an eclectic blend of culture and fine dining, circus thrills and pristine beaches, and a wide array of shopping opportunities. The John and Mable Ringling Museum of Art in Sarasota pays homage to the Ringlings, the family behind America’s most famous circus. Art lovers can appreciate the largest collections of Rubens canvasses in the world right in Sarasota, plus works by Old Masters. Visitors can also tour Ca’ d’Zan Mansion, a magnificent 56-room Venetian Gothic palace, and the Ringlings’ old family home. Fine shopping is available throughout Sarasota, including St. Armand’s Circle close to the coast.

DEMOGRAPHICS

HOUSEHOLDS 1-MILE 3-MILE 5-MILE

2025 PROJECTION 6,957 42,458 84,3432020 ESTIMATE 6,552 40,260 79,7452010 CENSUS 5,868 36,703 72,085GROWTH: 2020 - 2025 6.18% 5.46% 5.77%GROWTH: 2010 - 2020 11.66% 9.69% 10.63%INCOME 1-MILE 3-MILE 5-MILE

AVERAGE HH INCOME $58,896 $79,571 $88,746

MEDIAN HH INCOME $45,655 $53,812 $60,816

POPULATION 1-MILE 3-MILE 5-MILE

2025 PROJECTION 15,287 93,292 181,8952020 ESTIMATE 14,499 89,056 172,8052010 CENSUS 13,286 82,939 158,674GROWTH: 2020 - 2025 5.43% 4.76% 5.26%GROWTH: 2010 - 2020 9.13% 7.38% 8.91%

This Offering Memorandum contains select information pertaining to the business and affairs of Southern Veterinary Partners located in 2959 Fruitville Rd, Sarasota, FL 34237 (“Property”). It has been prepared by Matthews Real Estate Investment Services. This Offering Memorandum may not be all-inclusive or contain all of the information a prospective purchaser may desire. The information contained in this Offering Memorandum is confidential and furnished solely for the purpose of a review by a prospective purchaser of the Property. It is not to be used for any other purpose or made available to any other person without the written consent of Seller or Matthews Real Estate Investment Services. The material is based in part upon information supplied by the Seller and in part upon financial information obtained from sources it deems reliable. Owner, nor their officers, employees, or agents makes any representation or warranty, express or implied, as to the accuracy or completeness of this Offering Memorandum or any of its contents and no legal liability is assumed or shall be implied with respect thereto. Prospective purchasers should make their own projections and form their own conclusions without reliance upon the material contained herein and conduct their own due diligence.

By acknowledging your receipt of this Offering Memorandum for the Property, you agree:

1. The Offering Memorandum and its contents are confidential;2. You will hold it and treat it in the strictest of confidence; and3. You will not, directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum or its contents in any fashion

or manner detrimental to the interest of the Seller.

Owner and Matthews Real Estate Investment Services expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers to purchase the Property and to terminate discussions with any person or entity reviewing this Offering Memorandum or making an offer to purchase the Property unless and until a written agreement for the purchase and sale of the Property has been fully executed and delivered.

If you wish not to pursue negotiations leading to the acquisition of the Property or in the future you discontinue such negotiations, then you agree to purge all materials relating to this Property including this Offering Memorandum.

A prospective purchaser’s sole and exclusive rights with respect to this prospective transaction, the Property, or information provided herein or in connection with the sale of the Property shall be limited to those expressly provided in an executed Purchase Agreement and shall be subject to the terms thereof. In no event shall a prospective purchaser have any other claims against Seller or Matthews Real Estate Investment Services or any of their affiliates or any of their respective officers, Directors, shareholders, owners, employees, or agents for any damages, liability, or causes of action relating to this solicitation process or the marketing or sale of the Property.

This Offering Memorandum shall not be deemed to represent the state of affairs of the Property or constitute an indication that there has been no change in the state of affairs of the Property since the date this Offering Memorandum.

CONFIDENTIALITY AGREEMENT & DISCLAIMER

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LISTED BY:

2959 FRUITVILLE RD | SARASOTA, FL 34237

BROKER OF RECORDKYLE MATTHEWS

License No. CQ1052263 (FL)

MICHAEL MORENOAssociate Vice President & Director

D: (949) 432-4511 M: (818) 522-4497

E: michael.moreno@matthews.comLicense No. 01982943 (CA)

RAHUL CHHAJEDAssociate Vice President & Director

D: (949) 432-4513 M: (818) 434-1106

E: rahul.chhajed@matthews.comLicense No. 01986299 (CA)

ANDREW EVANSAssociate

D: (949) 662-2256 M: (925) 360-0277

E: andrew.evans@matthews.comLicense No. 02055475 (CA)

SOUTHERN VETERINARY PARTNERS