About Linear Retail Properties, LLC

Linear Retail Properties, LLC is a retail real estate acquisition and operating company founded in August 2003 by William J. Beckeman and Principal Enterprise Capital. The company seeks to acquire and operate a large number of "convenience-oriented" retail properties in Greater Boston, Eastern Massachusetts, Rhode Island, Southern New Hampshire and Southern Maine.

Principal Enterprise Capital, a subsidiary of the Principal Financial Group^® based in Des Moines, Iowa, has earmarked $125 million of equity capital for investment in Linear Retail and for acquisition of targeted retail properties. Linear Retail seeks to quickly build a portfolio of approximately $250 million in asset value. Since the company's formation, Linear Retail has purchased 48 retail properties in 34 separate transactions for more than $220 million.

Individual assets targeted by Linear Retail will typically range from as little as $1,000,000 up to $15,000,000 in investment value and from 10,000 square feet to 125,000 square feet in size. Desired properties include fully-stabilized shopping centers, urban retail condos, or free-standing stores and centers in need of modest to major rehabilitation. Portfolio purchases are also pursued aggressively. In some cases, raw land or non-retail properties that are sited in attractive retail locations will also be pursued for development.

The combination of patient institutional capital with strong local operating expertise and investment discretion provide Linear Retail truly unique advantages. Linear Retail is the only investment entity currently operating in this region partnering institutional capital with a dedicated focus on this particular class of retail real estate. Accordingly the Company is able to deliver uncommon flexibility, speed and professionalism to the acquisition process of these mostly smaller "unanchored" strip shopping centers.