Montecito Medical Acquisitions and Development (“MMAC”)

Montecito Medical Acquisitions and Development (“MMAC”) is one of the premier acquirers and developers of medical real estate. Between 2006 and 2008, Montecito, in partnership with institutional investors, acquired a portfolio of over 2.5 million square feet in 46 assets and across 14 states valued at approximately $500 million. Most of this portfolio has been sold and in June of 2012 MMAC formed a joint venture with Berkshire Realty Ventures (“MMAC Berkshire”) to invest in MOBs in select markets across the US, with a goal of acquiring $400 - $600 in MOBs over the next three years. Berkshire Realty Ventures (“BRV”) is a private equity investor focused on entity level investments in real estate operating companies. BRV is a subsidy of The Berkshire Group, a 40+ year-old real estate company that has raised $4 billion in third party investor equity and has made over $10 billion in real estate investments. In addition to providing growth capital, Berkshire will draw on its successful track record of investing in operating companies and managing funds for institutional investors as Berkshire helps guide MMAC.