From: "jeffrey E." <[email protected]> To: Sultan Bin Sulayem Subject: Fwd: Fwd: Marina REIT [C] Date: Mon, 03 Nov 2014 09:52:56 +0000 Inline-Images: ATT00001.gif; ATT00002.gif not interesting as an investment but interesting as a new form of ownsship structure for ports "?? Forwarded message From: Farkas, Andrew L. Date: Mon, Oct 27, 2014 at 1:25 PM Subject: Re: Fwd: Marina REIT [C] To: "jeevacation®gmail.com" <[email protected]> Very interesting. From: Jeffrey E. [mailto:jeevacSig i mail com Sent: Monday, October 27, 2014 12:07 PM To: Farkas, Andrew L. Subject: Fwd: Marina REIT [C] thought you might like to see Forwarded message From: Matt Glassman <I Date: Mon, Oct 27, 2014 at 11:34 AM Subject: Marina REIT [C] To: jeevacation@ mail.com Cc: Paul Morris , Daniel Sabba , Tazia Smith , Vahe Stepanian Classification: Confidential Hi Jeffrey, Attached, you will find an overview of an investment opportunity for our qualified clients - it is a private marina REIT. To be clear, this a private company not a fund. This investment opportunity targets an 8%+ current yield from the net profits of the underlying Marina holdings. The J-curve up to that yield is anticipated to be just 6mos as properties will be contributed for equity immediately. The current fragmented nature of the marina industry, their valuations, and the barriers to entry present an interesting fundamental opportunity. Liquidity/cap rate compression (in both our base and bull cases) is an IPO in 3-4yrs. Regards, Matt EFTA00999571