EXECUTIVE SUMMARY

EXECUTIVE SUMMARY A Design Build-to-Suit Office Building In ST. THOMAS, U.S. VIRGIN ISLANDS Leased by the GSA for The U.S.CITIZENSHIP and IMMIGRATION SERVICES (USCIS) A 12,770 SF l 10-YEAR FIRM LEASE April 2014 Subject: U. S. Citizenship and Immigration Services (USCIS) Location: 19F Rem Estate Smith Bay. St. Thomas. USVI Land Size: 2.89 Acres MOL Building Size: 12,770 SF Lease Term: 10-Year Firm Lease Commencement: Within 30 days of completion Lease No. / Building No.: GS-02B-1916 / VI4035ZZ EFTA00622100 USCIS STVI: The government's agency that oversees lawful immigration to the United States. The agency has been located at its present location for over forty years lacking sufficient space and parking to handle their need. Investment Term: Thirty six - forty two months. Return on Investment: An annual return TBD on investment. Interest only paid quarterly during the term of the note. The note will allow early principal payments without a prepayment penalty. Security: Developers: Cost: Summary: The Investors will be secured through a recorded second mortgage attached to the land, behind the construction loan and personally guaranteed by Vin Hoover and Tob Trickey, Co- Managing Members, Hoover Property St. Thomas, LLC. Hoover Property St. Thomas, LLC, of Tampa, FL. has been in the GSA Bid-Award market for over twenty-five years. This USCIS award is there twenty-seventh. Hoover Equity: $ 671.388.00 PSST, LLC Equity: $ 1,000,000.00 Bank Financing $ 5,014,164.18 Project Cost: $ 6,685,552.24 o A non-speculative investment. o A short-term (42 months) investment. o The investment will not incur future capital calls. o The investment has an exit strategy. o A GSA lease, along with medical buildings and schools are classified as a Credit Tenant Lease (CTL). These investments are highly sought assets in the Global Real Estate Net, Net, Net investment arena. Respectfully submitted, W. Jeffrey Cotter, CCIM Managing Member Profit Structures St. Thomas, LLC EFTA00622101