J9222C Presented by: Michael A. Noto, Health Care REIT, Inc. - Moderator Phillip J. Valdivia, Catholic Healthcare West Real Estate Services Jeffrey Green, Jeff Green Partners Frank Mihalopoulos, Corinth Properties & Anthony Ruggeri, ATR & Associates Redeveloping Retail Space for Healthcare Use

Why Retail Space? Strategic FinancialOperational Physician Alignment Time to Market Acute vs. Ambulatory Care Construction Costs Rental Rates Parking Access Visibility

From Burgers… …to Band-Aids

Site Specifics 7,000 square feet – Ideal for 5 physician clinic with Urgent Care Stand-Alone Building Parking at 7:1,000 Excellent visibility and existing signage rights Community that values slow growth and controlled development

From the Box Office … …to the Doctor’s Office

Site Specifics Developer Repositioned Asset 25,000 sq.ft open space Dedicated parking garage CBD Location

Why Retail Locations for Medical Uses… and Why Now? Why Retail? Convenience and access for healthcare consumers. Gives medical providers a billboard-like branding opportunity. Obama-care to increase need for primary care providers. Lower occupancy costs.

Why Retail Locations for Medical Uses… and Why Now? (continued) Why Now? Retail developers are scrambling to fill increasing vacancies. Shopping center rental rates are much more affordable than several years ago. Some primary end-cap locations are coming available. (Blockbuster and Hollywood video closures, as an example)

A Few Challenges… Retail developers and leasing agents speak one language and the medical community speaks another. Medical tenants often request prime visibility in centers, while landlords may prefer to place them off the beaten path. Tenant-improvement costs are often higher for medical tenants than retailers. Not all medical businesses are desirable to the retail developer.

J9222C ONE HUNDRED OAKS MALL REDEVELOPMENT Developers Frank Mihalopoulos & Anthony Ruggeri Dallas, Texas

One Hundred Oaks Fact Sheet Location: Nashville, Tennessee Original Mall built in 1964 & 1967 Remodeled in 1992/93 and ,000 square feet 54 acres 3,400 parking spaces

The Opportunity One Hundred Oaks: 54 well located acres 450,000 square feet of space requiring only renovation On-site parking Excellent visibility, recognition and interstate access Lower capital expense

The Challenge Developing a mixed use project with major medical from a retail shopping center Parking Convincing retailers, that medical would be complimentary to their business Overcoming retail lease regulations During construction, maintain traffic flow for the retail tenants Cost of finish-out for medical space vs. retail space

Developers Brought Curiosity Vision Purchase of One Hundred Oaks Development and Retail Expertise Team to Deliver Project