Park Plaza

park plaza hilton head, south carolina

Berkeley Capital advisors presents

2 www.berkeleycap.com

Park Plaza Hilton Head, SC

r o b c a r t e r704.379.1982

[email protected]

r a d w y a t t704.714.2367

[email protected]

ContaCts:

831 East Morehead Street | Suite 650Charlotte | NC |28202

704-379-1980 www.berkeleycap.com

table of contentsp r o p e r t y s u m m a r y

offering overview 3aerial close up 4

site plan 5retail competition map 6

retail competition key 7aerial east 8aerial west 9

e c o n o m i c s u m m a r yprojected operating statement 10

schedule of prospective cash flow 11financial assumptions 12

aerial north 13

t e n a n t s u m m a r yrent roll 14

market overview 16

d e m o g r a p h i c s / c ademographics 18

ca 19



name park plazaaddress 33 office park rd. Market Hilton Head, south Carolina

size 60,780 sFoccupancy 100%year delivered 2000 / 2011parcel id# r552 014 000 0886 0000total land size +/- 7.54 acres

traffic Counts Us 278 - 23,900 aadtUs 278 BUs - 39,400 aadt

Pro Forma NoI $422,882

key investment highlights

• attractive brick & mortar with a redevelopment of the center in 2011

• Fully stabilized center

• located in a very high demographic area • Barriers to entry

• supply constraint

• Class “a” anchor tenant

• infill location

• top tier grocer in the marketplace

offering overview



aerial close up

parkplaza

Greenwood dr.

office park dr.



site planparkplazano. tenant sF

1 Harris teeter 52,0002 Mellow Mushroom 5,2153 park plaza liquors 1,3214 nail pro 9235 sweet Frog 1,321

total 60,780

% occupied 100%

1

2 3 4 5

office park rd

Greenwood dr.



retail competition map

1

2

3 4

5

6

Shelter cove Mall redevelopment Program

• tearing down much of the mall• property designed as a walking village of shops and restaurants• kroger would be secondary anchor to Belk• 285,000 sf of commercial space• 220 residential units

Click here for a conceptual master plan of the redevelopment of the Mall at shelter Cove.

http://www.hiltonheadislandsc.gov/departments/commdev/Redevelopment/sheltercovemall/scConceptualPlan.pdf

http://www.hiltonheadislandsc.gov/departments/commdev/Redevelopment/sheltercovemall/scConceptualPlan.pdf



retail competition key

SHOPPING CENTER

park plaza island Crossingpalmetto

CrossroadsCircle Center Coligny plaza

Fresh Market shoppes

plaza at shelter Cover

SF 60,780 sF 96,598 sF 40,910 sF 66,313 sF 123,000 sF 86,746 86,044

OCCUPANCY 100% 98% 25% 94% 98% 90% 100%

YEAR BUILT 2000 1984 / 1999 1990 1992 - 2000 1956 2004 1984

MAJOR TENANTS

Harris teeter publix, staples dark Food lionBi-lo,

Wild Wing Cafepiggly Wiggly,

ChicosFresh Market, Bone Fish Grill

piggly Wiggly,tJ Maxx

RETAIL RENTS PSF $6 - $23 $16 - $38 - $15 - $20 $18 - $24 $16 - $20 $22 - $24

1 2 3 4 5 6



aerial eastatlantic ocean

shipyard Golf Club$335k - $1M

parkplaza

Greenwood dr.

pope avenue

park plaza Cinemasalligator Grill

Ups store



aerial west

Greenwood dr.

palmetto Bay rd. / Us 278

23,900 aadt

parkplaza

dark Food lion

sea pines Country Club$300k - $8M

sea pines Circle

sea pines resortHome of

Harbour townGolf links

Wexford plantation &Wexford Golf Club

$380k - $3.2M

park plaza Cinemasalligator Grill

Ups store

1 0 www.berkeleycap.com


projected operating statement

Pro ForMa

For the years ending Mar-2014

p ot e n t i a l g r o s s r e v e n u e

Base rental revenue $470,447

absorption & turnover vacancy -

scheduled Base rental revenue 470,447

e x p e n s e r e i m b u r s e m e n t r e v e n u e

CaM 121,554

insurance 26,741

property taxes 86,911

total reimbursement revenue 235,206

total potential Gross revenue 705,653

General vacancy (10,635)

effective Gross revenue 695,018

o p e r at i n g e x p e n s e s

CaM 121,560

insurance 26,743

property taxes 86,915

property Management (4% eGr) 27,801

Capital reserves ($0.15 psF) 9,117

total operating expenses 272,136

Net operating Income $422,882



schedule of prospective cash flowyear 1 year 2 year 3 year 4 year 5 year 6 year 7 year 8 year 9 year 10

For the years ending Mar-2014 Mar-2015 Mar-2016 Mar-2017 Mar-2018 Mar-2019 Mar-2020 Mar-2021 Mar-2022 Mar-2023

p ot e n t i a l g r o s s r e v e n u e

Base rental revenue $470,447 $475,368 $480,365 $485,438 $490,295 $495,512 $500,804 $506,187 $515,721 $521,312

absorption & turnover vacancy - - - - - - - - (11,371) -

scheduled Base rental revenue 470,447 475,368 480,365 485,438 490,295 495,512 500,804 506,187 504,350 521,312

e x p e n s e r e i m b u r s e m e n t r e v e n u e

CaM 121,554 125,200 128,957 132,826 136,811 140,915 145,142 149,495 153,034 158,600

insurance 26,741 27,544 28,371 29,222 30,099 31,002 31,931 32,889 33,668 34,892

property taxes 86,911 89,519 92,204 94,969 97,819 100,754 103,777 106,888 109,418 113,400

total reimbursement revenue 235,206 242,263 249,532 257,017 264,729 272,671 280,850 289,272 296,120 306,892

total potential Gross revenue 705,653 717,631 729,897 742,455 755,024 768,183 781,654 795,459 800,470 828,204

General vacancy (10,635) (10,932) (11,234) (11,542) (11,840) (12,159) (12,482) (12,812) (1,889) (13,696)

effective Gross revenue 695,018 706,699 718,663 730,913 743,184 756,024 769,172 782,647 798,581 814,508

o p e r at i n g e x p e n s e s

CaM 121,560 125,207 128,963 132,832 136,817 140,921 145,149 149,503 153,989 158,608

insurance 26,743 27,545 28,372 29,223 30,100 31,003 31,933 32,891 33,877 34,894

property taxes 86,915 89,523 92,209 94,975 97,824 100,759 103,782 106,895 110,102 113,405

property Management 27,801 28,268 28,747 29,237 29,727 30,241 30,767 31,306 31,943 32,580

Capital reserves 9,117 9,117 9,117 9,117 9,117 9,117 9,117 9,117 9,117 9,117

total operating expenses 272,136 279,660 287,408 295,384 303,585 312,041 320,748 329,712 339,028 348,604

Net operating Income 422,882 427,039 431,255 435,529 439,599 443,983 448,424 452,935 459,553 465,904

l e a s i n g & c a p i ta l c o s t s

tenant improvements - - - - - - - - 3,554 -

leasing Commissions - - - - - - - - 11,319 -

total leasing & Capital Costs - - - - - - - - 14,873

cash Flow after debt Service $422,882 $427,039 $431,255 $435,529 $439,599 $443,983 $448,424 $452,935 $444,680 $465,904



financial assumptionsG e n e r a l

analys i s per iod s tar t : April 1, 2013

analys i s per iod end: March 31,2023

t erm 10 years

prop er ty s i z e 60,780 SF

space d i s tr i bu t ion sF GLA

Anchor 52,000 85.55%

Retail 8,780 14.45%

general in F l at ion (per annum)

3.00%

re imbursement method Fiscal reimbursements

using fiscal inflation

general vacancy loss 5.00%

operat ing exp ense source 2013 Budget

re imbursements Varies by tenant

This section provides details on the general assumptions made in the 10-year financial analysis for the subject property. Berkeley Capital used Argus™ Version 15 to derive financials included in this package, and a copy of the Argus™ analysis may be sent upon request.

M a r k e t l e a s i n G a s s U M p t i o n s

renewal prob ab i l i t y 75%

marke t rent [1] Varies by tenant

rent growth 3.00% Annually

l ease t erm 5 years (Inline)

exp ense recovery t ype Varies by tenant

t enant improvements

New $5.00

Renewal $0.00

Speculative (Weighted Avg.) $1.25

l eas ing commiss ions

New 5.00%

Renewal 2.50%

Speculative (Weighted Avg.) 3.13%

downt ime

New 6 Months

Renewal 0 Months

Speculative (Weighted Avg.) 2 Months[2]

NOTES :[1] The market rent represents estimated future values based on current and historical market conditions, recent lease transactions, location, construction, and age of the subject property. The market rental rates are utilized for all projected new leases and speculative lease rollovers. The market rental rates used in the cash flow projection vary and are dependant upon the specific tenant and individual leasing space.

[2] The analysis assumes a weighted downtime of two months between speculative rollovers. This weighted average lag time is based on no downtime for lease renewals and six months downtime for new leases. The weighted average is calculated as follows: 75% x 0 months (renewals) + 25% x 6 months (new) = 1.5 months (Rounded to 2 Months)



aerial north

Us BUs 278aadt 39,400

parkplaza

Greenwood dr.

long Cove Golf Club$390k - $1M

Wexford plantation &Wexford Golf Club

$380k - $3.2M

palmetto dunes3 Golf Courses$415k - $5M



Square Lease Lease Rent Annual Rent Escalations Recovery Renewal Rent

Tenant Feet Start End PSF Rent Date PSF Type [1] Options PSF

A N C H O R

Harris teeter 52,000 $5.61 $291,720 none none NNN tBd tBd

R E T A I L

park plaza liquors 1,321 04/01/11 03/31/16 $23.34 $30,832 4/1/14 $24.04 nnn (1) 5-yr option4/1/15 $24.76 yr 1 $25.50

yr 2 $26.27 yr 3 $27.06 yr 4 $27.87 yr 5 $28.71

nail pro 923 05/01/11 04/30/16 $20.60 $19,014 5/1/13 $21.21 nnn (1) 5-yr option5/1/14 $21.85 yr 1 $23.19 5/1/15 $22.51 yr 2 $23.88

yr 3 $24.60 yr 4 $25.34 yr 5 $26.10

sweet Frog 1,321 08/06/12 08/05/17 $20.00 $26,420 8/6/13 $20.60 nnn (2) 5-yr options8/6/14 $21.21 option 18/6/15 $21.85 yr 1 $23.19 8/6/16 $22.51 yr 2 $23.88

yr 3 $24.60 yr 4 $25.34 yr 5 $26.10

option 2yr 1 $26.88 yr 2 $27.68 yr 3 $28.52 yr 4 $29.37 yr 5 $30.25

[1] See Argus file for reimbursement details.

rent roll



Square Lease Lease Rent Annual Rent Escalations Recovery Renewal Rent

Tenant Feet Start End PSF Rent Date PSF Type [1] Options PSF

R E T A I L

Mellow Mushroom 5,215 03/04/02 05/14/17 $19.00 $99,085 5/15/13 $19.50 nnn (5) 5-yr options5/15/14 $20.00 option 1 $21.50 5/15/15 $20.50 option 2 $24.00 5/15/16 $21.00 option 3 $26.50

option 4 $29.00 option 5 $31.50

*rents increase $0.50 psf each year within the option term.

totaL 60,780 SF

rent roll



market overviewHilton Head, sCHilton Head island or simply Hilton Head is a low-country resort town located on an island of the same name in Beaufort County, south Carolina. it is 20 miles north of savannah, Georgia and 95 miles south of Charleston. the island gets its name from Captain William Hilton. in 1663, Captain Hilton identified a headland near the entrance to port royal sound, which he named “Hilton’s Head” after himself. the island features 12 miles of beachfront on the atlantic ocean and is a popular vacation destination. in 2004, an estimated 2.25 million visi-tors pumped more than $1.5 billion into the local economy. the year-round population was 37,099 at the 2010 census, although during the peak of summer vacation season the population can swell to 275,000. over the past decade, the island’s population growth rate was 32%.

the island has a rich history that started with season-al occupation by native americans thousands of years ago, and continued with european explora-tion and the sea island Cotton trade. it became an important base of operations for the Union block-ade of the southern ports during the Civil War. once the island fell to Union troops, hundreds of ex-slaves flocked to Hilton Head, which is still home to many ‘native islanders’, many of whom are descendants of freed slaves known as the Gullah (or Geechee) who have managed to hold onto much of their ethnic and cultural identity.

the town of Hilton Head island incorporated as a municipality in 1983 and is well known for its

“eco-friendly” development. the town’s natural resources division enforces the land Management ordinance which minimizes the impact of develop-ment and governs the style of buildings and how they are situated amongst existing trees. as a result, Hilton Head island enjoys an unusual amount of tree cover relative to the amount of development.approximately 70% of the island, including most of the tourist areas, is located inside gated communi-ties. However, the town maintains several public beach access points, including one for the exclu-sive use of town residents, who have approved several multi-million dollar land-buying bond refer-endums to control commercial growth.

Hilton Head island offers an unusual number of cul-tural opportunities for a community its size, including Broadway-quality plays at the arts Center of Coastal Carolina, the 120-member full chorus of the Hilton Head Choral society, the highly-rated Hilton Head symphony orchestra, the largest annual outdoor, tented wine tasting event on the east coast, and several other annual community festivals. it also hosts the Heritage Golf Classic, a stop on the pGa tour which is played on the Harbour town Golf links in sea pines resort.

retireMent CoMMUnities retirees ages 65 and older account for 23 percent of the area population. Factors that play an integral role in the decision to retire here include the quality healthcare, continued learning opportunities, na-ture, culture, sub-tropical weather, and the myriad opportunities for making family memories. Hilton

Head retirement communities offer independent living with activities, dining, and wonderful amenities for active adults.

JoBstourism is a leading industry on Hilton Head island. there are numerous resort and hotel jobs, every-thing from marketing to accounting. Hilton Head is-land also has a large retail and professional sector.

the resort lifestyle means that you might be able to find a job with non-traditional hours. Many retirees enjoy working resort jobs on the weekends, leaving their weekdays free for golf and tennis.

technology-based businesses such as CareCore national and Field stone Marketing have created a number of jobs in the lowcountry area. Gulf stream is located 30 miles away in savannah, and the new Boeing 787 Jet assembly plant is located in nearby Charleston.

BikinG and parksWith its focus on nature and the natural beauty of the island, it’s no surprise that Hilton Head island has 7 community and 7 recreational parks with walking trails, tennis courts, and plenty of open space to enjoy your surroundings. the island also has more than 100 miles of multi-use trails connecting riders everywhere they want to go. the 12 miles of hard-packed sandy beach is also ideal for bike riding, walking and jogging.

continued on next pg.



airportstwo airports service the Hilton Head island area: Hilton Head airport, located on the north end of the island, and savannah/Hilton Head international air-port, located approximately 45 miles (72 km) south of the island.

sea pines, sCpark plaza is located in the sea pines area of Hilton Head. the sea pines resort or sea pines (formerly known as the sea pines plantation) is a gated com-munity located on the western end of the town of Hilton Head island, south Carolina. it is the largest plantation on the island which contains a large portion of the rental properties on the island. the

real estate market is also quite lucrative, with the average residential property in sea pines selling for about $1,613,000 as of March 2010. sea pines is home to 3 golf courses, including Harbour town Golf links, ocean Course, and Heron point golf courses (formerly known as the sea Marsh course).

BlUFFton, sCBluffton is the fastest growing town in Beaufort County, south Carolina, United states. it is a lowcountry town located across U.s. route 278 between Hilton Head island and interstate 95. the town’s original one square mile area, now known as old town, is situated on a bluff along the May river. the popula-tion was counted by the 2010 census at 12,530.

Bluffton is the fastest growing municipality in south Carolina with a population over 2,500, growing 882.7% between the 2000 and 2010 census. Bluffton is the fifth largest municipal-ity in south Carolina by land area. the town’s Micropolitan statistical area population was counted by the 2010 census at 187,010. Bluffton is known for its eclectic old town district and natural views of the May river. it has been called “the last true coastal village of the south.”

after its founding in 1852, Bluff-ton became a popular loca-

tion for wealthy savannah merchants and plantation owners. Following the tariff of 1842, Bluffton became a hotbed of separatist sentiment. in 1844 the Bluffton Movement, a protest against federal taxes, birthed the secession movement and led south Carolina to be the first state to leave the Union.

Harbour town Golf links

Hilton Head aCColades

top 5 best beach – southern living Best Weekend Getaways

top 20 best beaches in the Nation – tripadvisor.com travelers’ Choice awards

best Memorial day weekend destination – aol.com

top 10 Family beach – MsnBC.com

top Five best Family biking Getaways in america – disney’s Family Fun magazine

top ten Vacation rental destination in the U.S. – tripadvisor.com

the inn at Harbour town was named among the “top 20 resorts in the South”

- Conde’ nast traveler

top 50 resorts by Condé nast traveler’s “best in the world - toP 100”

- reader’s Choice award.”



demographicstrade area 1 %

popUlation

2018 projection 18,804 2013 estimate 18,264 2010 Census 17,981 20000 Census 16,313 Growth 2013-2018 2.96% Growth 2010-2013 1.57% Growth 2000-2010 10.22%

2013 est. pop By sinGle raCe Class 18,264

White alone 16,007 87.64 Black or african american alone 843 4.62 amer. indian and alaska native alone 32 0.18 asian alone 188 1.03 native Hawaiian and other pac. isl. alone 18 0.10 some other race alone 1,007 5.51 two or More races 168 0.92

2013 est. HoUseHolds By HoUseHold inCoMe 8,737

Cy HHs, inc < $15,000 592 6.78 Cy HHs, inc $15,000 - $24,999 648 7.42 Cy HHs, inc $25,000 - $34,999 958 10.96 Cy HHs, inc $35,000 - $49,999 1,158 13.25 Cy HHs, inc $50,000 - $74,999 1,590 18.20 Cy HHs, inc $75,000 - $99,999 1,171 13.40 Cy HHs, inc $100,000 - $124,999 730 8.36 Cy HHs, inc $125,000 - $149,999 518 5.93 Cy HHs, inc $150,000 - $199,999 423 4.84 Cy HHs, inc $200,000 - $249,999 266 3.04 Cy HHs, inc $250,000 - $499,999 468 5.36 Cy HHs, inc $500,000+ 216 2.47 2013 est. average Household income $102,340 2013 est. Median Household income $65,917

Area Map

33 OFFICE PARK RD # 201HILTON HEAD,SC 29928-4612Coord: 32.154002, -80.766422

Polygon - See Appendix for Points

of© 2006-2012 TomTom

Prepared By: © 2012 The Nielsen Company. All rights reserved.

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Berkeley Capital advisors, llC (“BCa”) has been authorized by the owner of the subject property (the “seller”) to present you with this marketing package. this is a confidential package intended solely for your own limited use and benefit, as a principal, in considering whether you desire to pursue negotiations to acquire the subject property. your receipt and acceptance of this package serves to acknowl-edge your agreement to: (1) hold the information and materials contained herein, and the offering they represent, in the strictest of confidence; (2) not disclose, directly or indirectly, the information and materials contained herein, or the offering they represent, to any other person, firm or entity without prior written authorization from BCa or the seller; (3) not use the information and materials contained herein in any fashion or manner detrimental to the inter-est of BCa or the seller; (4) not disturb any tenants in possession of the subject property nor reveal to them the offering this package represents. this marketing package was prepared by BCa and it has been reviewed by representatives of the seller. the information and materials contained herein are selective and limited in nature, and neither BCa nor the seller purports this to be an all-inclusive report on the subject property. Within this package, certain leases, documents and other materials are described in summary form. these summaries do not purport to be complete nor necessar-ily accurate descriptions of the full agreements involved, nor do they purport to constitute a legal analysis of the provisions of those documents. interested and qualified prospective purchasers will be afforded an opportunity to review additional information and to inspect the subject property, and all such prospective purchasers should conduct their own independent due diligence. this package is based in part upon information supplied by the seller and in part upon information obtained by BCa from sources believed to be reliable. all income, expense and/or investment projections contained herein are provided for general reference purposes only, in that they are based on assumptions relating to the general economy, competition and other factors beyond the control of BCa and the seller, and all such projections are therefore subject to variation. this package shall not be deemed an indi-cation of the state of affairs of the subject property, nor constitute an indication that there has been no change in the business or affairs of the subject property since the date of preparation of this package.

neither BCa, the seller, nor any of their respective officers, employ-ees or agents, has made or does make any representation or war-ranty, expressed or implied, as to the accuracy or completeness of this package or any of its contents, and no legal commitments or obligations shall arise by reason of this package or its contents. BCa and the seller expressly reserve the right, at their sole discre-tion, to alter or amend the terms of this offering, to reject any or all

expressions of interest or offers to acquire the subject property and/or to terminate discussions with any entity at any time with or without notice. the seller shall have no legal commitment or ob-ligation to any entity reviewing this package or making an offer to acquire the subject property unless and until a written agreement for such acquisition has been fully executed, delivered and ap-proved by the seller and any conditions to the seller’s obligations thereunder have been satisfied or waived.

parties seeking to act in a third-party brokerage capacity must register their client(s) with BCa prior to receiving or dispersing any marketing information. BCa will not recognize any third-party bro-kerage relationships without first receiving and approving such writ-ten client registration, nor will BCa or the seller be obligated for any brokerage claims which may result, regardless of such broker’s involvement in procuring a purchaser for the subject property. this package is the property of BCa. photocopying, re-typing or other duplication of the information and materials contained herein is expressly prohibited. the information contained within this package and the offering of the subject property may not be an-nounced, posted or otherwise publicized in any electronic media (such as, by way of example only, any internet or “broadcast fac-simile” communications).

if, after reviewing this package, you have no further interest in ac-quiring the subject property at this time, please return this package in its entirety to BCa. likewise, if the terms contained in this Confi-dentiality & disclaimer section are not acceptable to you, please immediately return this package to BCa.

the terms and conditions stated in this Confidentiality & disclaimer section apply and relate to all of the sections of this package as if stated independently therein.

prospective purchasers of the subject property are hereby notified that Berkeley Capital advisors, and its agents, are acting in the ca-pacity of a “seller’s agent” during the course of this offering, and as such are solely representing the interests of the seller.

deScrIPtIoN oF aGeNt dUtIeS aNd reLatIoNSHIPSBefore you begin working with any real estate agent, you should know who the agent represents in the transaction. every listing agreement, buyer agency agreement or other agreement for bro-kerage services in a real estate sales transaction in north Carolina must contain this “description of agent duties and relationships” [n.C. real estate Commission rule 21 nCaC 58a.0104(c), eff. 7/1/95]. real estate agents should carefully review this information with you prior to entering into any agency agreement.

aGeNt’S dUtIeSWhen you contract with a real estate firm to act as your agent in a real estate transaction, the agent must help you obtain the best price and terms possible, whether you are the buyer or seller. the

agent also owes you the duty to:

• safeguard and account for any money handled for you• act with reasonable skill, care and diligence • Be loyal and follow reasonable and lawful instructions• disclose to you any information which might influence your deci-sion to buy or sell

even if the agent does not represent you, the agent must still be fair and honest and disclose to you all “material facts” which the agent knows or reasonably should know. a fact is “material” if it relates to defects or other conditions affecting the property, or if it may influ-ence your decision to buy or sell. this does not require a seller’s agent to disclose to the buyer the minimum amount the seller will accept, nor does it require a buyer’s agent to disclose to the seller the maximum price the buyer will pay.

aGeNtS worKING wItH SeLLerSa seller can enter into a “listing agreement” with a real estate firm authorizing the firm and its agent(s) to represent the seller in finding a buyer for his property. the listing agreement should state what the seller will pay the listing firm for its services, and it may require the seller to pay the firm no matter who finds the buyer.

4the listing firm may belong to a listing service to expose the seller’s property to other agents who are members of the service. some of those agents may be working with buyers as buyers’ agents; others will be working with buyers but still representing the sellers’ interests as an agent or “subagent”. When the buyer’s agents and seller’s subagents desire to share in the commission the seller pays to the listing firm, the listing agent may share the commission with the seller’s permission.

aGeNtS worKING wItH bUyerSa buyer may contract with an agent or firm to represent him (as a buyer’s agent), or may work with an agent or firm that represents the seller (as a seller’s agent or subagent). all parties in the transac-tion should find out at the beginning who the agent working with the buyer represents.

if a buyer wants a buyer’s agent to represent him in purchasing a property, the buyer should enter into a “buyer agency agreement” with the agent. the buyer agency agreement should state how the buyer’s agent will be paid. Unless some other arrangement is made which is satisfactory to the parties, the buyer’s agent will be paid by the buyer. Many buyer agency agreements will also obligate the buyer to pay the buyer’s agent no matter who finds the property that the buyer purchases.

a buyer may decide to work with a firm that is acting as agent for the seller (a seller’s agent or subagent). if a buyer does not enter into a buyer agency agreement with the firm that shows him properties, that firm and its agents will show the buyer properties as an agent or subagent working on the seller’s behalf. such a firm represents the seller (not the buyer) and must disclose that fact to the buyer.

terMs oF presentat ion ConFidential ity & disClaiMer



a seller’s agent or subagent must still treat the buyer fairly and honestly and disclose to the buyer all material facts which the agent knows or reasonably should know. the seller’s agent typically will be paid by the seller. if the agent is acting as agent for the seller, the buyer should be careful not to give the agent any information that the buyer does not want the seller to know.

dUaL aGeNtSa real estate agent or firm may represent more than one party in the same transaction only with the knowledge and consent of all parties for whom the agent acts. “dual agency” is most likely to occur when a buyer represented by a buyer’s agent wants to purchase a property listed by that agent’s firm. a dual agent must carefully explain to each party that the agent and the agent’s firm are also acting for the other party.

in any dual agency situation, the agent must obtain a written agreement from the parties which fully describes the obligations of the agent and the agent’s firm to each of them.

this document is enclosed under the requirements of the north Carolina real estate Commission.prospective buyers should review and sign this document, retain a copy and return the original to Berkeley Capital advisors.

disClosUre to BUyer FroM seller’s aGent or sUBaGent

note: this form must be used by real estate agents working with buyers as agents or subagents of the seller. [n.C. real estate Commission rule 21 nCaC 58a.0104(e), eff. 7/1/95].

Firm name: Berkeley Capital advisors, llC agent name: robert s. Carter, alex W. Quarrier & david C. Webb

aGenCy disClosUreWhen showing you property and assisting you in the purchase of a property, the above-referenced agent and firm will be representing the interests of the seller. as such, the firm and its agents must work to obtain for the seller the best price and terms possible. the firm and its agents must also furnish the seller any information obtained from you or any other source which is material to the transaction or which might influence the seller’s decision to sell. therefore, as a buyer, you should not give the seller’s agent any information that you do not want the seller to know.

ACKNOWLEDGEMENT(DO NOT SIGN THIS FORM UNTIL YOU HAVE READ BOTH SIDES.)By signing below, i acknowledge that i have received a completed copy of this form.

__________________________________________________________ __________________________________________________________ Buyer’s name (print or type) Buyer’s name (print or type)

__________________________________________________________ __________________________________________________________ Buyer’s signature Buyer’s signature

__________________________________________________________ __________________________________________________________ date date

instrUCtions to aGents1. review the “description of agent duties and relationships” with the buyer(s) at the time of your first substantial contact with the buyer(s).2. explain the type(s) of agency (seller agency, buyer agency, dual agency) your firm offers.3. enter your name and the firm name at the top of this form and review the agency disclosure with the buyer(s).4. Have the buyer(s) complete the aCknoWledGeMent above.5. Give the buyer(s) a copy of this form, and retain the signed original for your files.

note: if your firm will act as a buyer’s agent, do not use this form. enter into a buyer agency agreement with the buyer.

roBert [email protected]

alex QUarrierquarr [email protected]

david [email protected]

831 East Morehead Street | Suite 650Charlotte | NC |28202

704-379-1980 www.berkeleycap.com

Park Plaza

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