RPD CATALYST LLC

Retail Portfolio

Westowne Center

1400 22^nd Street

West Des Moines, Iowa

Westowne center is an 183,000 square foot community shopping center located in Des Moines, Iowa. The center had been suffering from neglect at the time of purchase, so RPD gave the center an entirely new look to compete with the newer shopping centers in the area. Major tenants currently include Gordman’s, Michael’s, and Gold’s Gym.

Eastwood Village

3400 E. 33^rd Street

Des Moines, Iowa

Eastwood Village is a 96,000 square foot neighborhood center anchored by a Dahl’s supermarket. Following its purchase, RPD sold one of Eastwood’s outparcels to Goodwill. It is currently 93% occupied.

Pavilions North

Loop 410 & McCullough

San Antonio, Texas

Pavilions North is a 178,000 square foot community center located at the busiest traffic intersection in San Antonio. RPD acquired the 50% leased center in June 2005. Following its purchase RPD was able to lease 32,000 square feet to a Conn’s, and recently also leased 33,000 square feet to Jo-Ann’s. At this time it is 88% leased.

Exchange Plaza

5819 NW Loop 410

San Antonio, Texas

This 144,000 square foot community center is located in one of San Antonio’s six retail nodes near a major regional mall. During the time it was being marketed for sale, 2 of its 3 anchor tenants announced they were relocating. RPD bought the property and gave the center a new façade. Since then, RPD has leased the two large spaces to a chain of career colleges and an Appliance Smart. This center also includes a 41,000 square foot Bally Fitness.

Grandview Shopping Center

8005-8135 Callaghan Road

San Antonio, Texas

Grandview is a 105,000 square foot center anchored by a Sun Harvest grocery store. At the time of purchase, Sun Harvest’s lease was about to expire, but RPD was able to extend them. RPD also renovated the Sun Harvest, which resulted in increased sales and percentage rent.

Westgate Shopping Center

7311-7352 San Pedro Avenue

San Antonio, Texas

This 47,000 square foot shopping center is located at the same intersection as Pavilions North, one of the strongest retail locations in San Antonio. When it was acquired in 2005, it was anchored by a 33,000 square foot Hermes Music store, which was part of a local chain. RPD knew in advance Guitar Center was in talks to purchase Hermes, and in 2006 completed its purchase. The new Guitar Center has since signed a new 10 year lease.

Lone Oak Shopping Center

909 S. WW White Road

San Antonio, Texas

This 117,000 square foot shopping center is anchored by a HEB supermarket, part of a large chain in Texas with over 300 stores. Following the purchase of Loan Oak, RPD brought in several new retailers that could benefit from the heavy foot traffic generated by HEB and better suited the area’s demographic. It is currently 93% leased.

Park Oaks Shopping Center

16602-16668 San Pedro Avenue

San Antonio, Texas

In 2004, RPD acquired a 125,000 square foot center as well as an adjacent 65,000 square foot vacant supermarket. After combining the two into one center, RPD was able to lease the 65,000 sqaure feet that were vacant as well as 20,000 square feet from the main center. It is currently 97% leased and is anchored by a Bally Fitness and a Big Lots.

Southway Shopping Center

8006-8230 S. Gessner Road

Houston, Texas

Southway is a 180,000 square foot shopping center located in the Southwest side of Houston. In addition to the Ross store which was already there, RPD was able lease large spaces to Best Buy and Marshalls by redeveloping the center and relocating several smaller tenants.

Birch Run Shopping Center

1715-1741 Beam Avenue

Maplewood, Minnesota

This 278,000 square foot community center is located in a suburb of Minneapolis/St. Paul near a large regional mall. The center has several anchor tenants including a 50,000 square foot Burlington Coat Factory, Marshall’s, Appliance Smart, OfficeMax, and Jo-Ann’s.