Through our controlling interest in private retail REIT, Wilmorite Properties, Inc., National purchased an ownership interest in Tysons Corner Center, the premier shopping destination in suburban Washington, DC. National facilitated the purchase by actively pursuing the consent of the pension fund owner and providing most of the equity capital. It was the owner’s comfort with National’s institutional, yet entrepreneurial nature that ultimately persuaded the pension fund owner that a partnership with Wilmorite would be feasible, and it was. At the time of acquisition, the property was valued at well over $500 million. The property offered significant redevelopment opportunities and a significant expansion of the mall was begun shortly after acquisition. Already a retail landmark, the expanded mall now offers new retail and entertainment space in order to keep pace with trends in the industry. The value added to Tysons Corner Center, and other malls in the 10.4 million square foot Wilmorite portfolio, was realized when the REIT was sold in 2005 to national mall REIT Macerich, Inc.