| The Portfolio is 100% leased and guaranteed by the United States Government, through the GSA, operating as the U.S. Department of Agriculture (USDA). |
| The U.S. Government carries an investment-grade credit rating of AA+ by Standard & Poor’s and Aa1 by Moody’s. |
| Between July 1, 2024, and July 1, 2025, South Carolina’s population grew at a rate of 1.5%, faster than any other state in the country. |
| With 22,600+ farms and 4.6M acres of farmland, Agribusiness is the state’s No. 1 industry, accounting for 260K jobs & $51.8B in annual economic impact |
| WGSA Rollover data shows that GSA has historically been a “sticky” tenant (low probability of exercising its termination right in the soft lease term) |
| The USDA is comprised of 29 agencies with nearly 100,000 employees who serve the American people at over 4,500 locations across the country and abroad |
Reed Hudson
CBRE