Superior Risk—Adjusted Returns through Strategic Investments
The Prize Group seeks to generate superior risk-adjusted returns through investments in high-quality commercial properties. We execute on this strategy by combining sophisticated capital market, asset management and investment expertise with our operating capabilities and experience.

Recognizing and Responding Quickly to Capital Flow Cycles
Real estate is a cyclical business with its cycles determined, in large part, by capital flows. A sound investment strategy must recognize the importance of these cycles and requires a willingness and an ability to move quickly to sell into capital that is overvaluing real estate and to buy when capital is undervaluing real estate.

Mitigating Risk through Asset Quality and Tenant Service
In selecting among investment opportunities, careful assessment must be made of the risk profile of the various alternatives. In commercial real estate, risk comes in basically two forms: rental rate risk and vacancy risk, with the greatest investment risk coming from the substantial costs that are incurred through vacancy. We believe that both of these risks are best mitigated by investing in high quality properties that, due to their location, physical quality, amenities and other attributes, will always be preferred business locations. These risks are then further mitigated by operating these properties with an unwavering focus on responsive and cost-effective service to tenants so that opportunities to expand and retain tenants on the most favorable terms are maximized.

In summary, the Prize Group believes that attractive risk-adjusted returns can be consistently achieved through an investment program that is focused on acquiring and developing high-quality office properties at appropriate points in the investment cycle, utilizing a conservative amount of debt, operating these properties to produce a solid and consistent cash return and selling these properties when capital is fully valuing the asset fundamentals.