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| NSB Associates,
Inc. acquires and repositions commercial real estate properties for its
own account. Focused on industrial, retail and office properties in Southern
California, NSB is aggressively expanding its portfolio. With the completion
of NSB Value Added Fund I, NSB has added eight properties totaling in excess
of 500,000 square feet thereby increasing NSB's portfolio to over 2 million
square feet.
Acting as a principal, NSB's primary acquisition objectives are to acquire properties with solid fundamentals, in strong "in fill" locations on an "all cash close" basis. The typical acquisition target is priced in the $2-$15 million price range. Properties priced above or below this price range are also considered on a case-by-case basis. NSB's typical acquisition target will provide the opportunity to significantly increase rents, occupancies and operating incomes. NSB's investment philosophy targets substantial risk-based equity returns. To generate these returns, NSB favors many of the "value added" investment risks including releasing risk, repositioning risk, environmental risk and recapitalization or redevelopment risk. By combining a "long term hold" investment philosophy with an "all cash close" financing capability, NSB's streamlined decision-making process insures the swift and efficient closing of transactions. Several recent transactions have closed within 45 days of receiving property submissions from brokers. For further information on NSB's acquisition criteria, or to submit a property, please contact: Kevin A. Mansfield
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