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 orporate Overview: First Oxford Corporation is a Maryland Corporation
which acquires, owns and manages properties that are net leased to corporations in a variety of industries. The Company focuses on
properties which are essential to the operations of its clients, such as a corporation's headquarters, central distribution facilities or
strategic retail locations. Under a net lease, the tenant is responsible for all obligations such as taxes, repairs and insurance, which would
otherwise be the responsibility of the landlord. Based on total projects completed, the Company is one of the largest privately owned
companies in the United States engaged exclusively in the corporate net leased real estate business.
First Oxford's current portfolio consists of properties, which are predominantly single-tenant industrial, retail and office buildings, all of which
are 100% leased pursuant to leases with an average remaining term (excluding extension options) of approximately seven years when
lease terms are weighted according to contractual rent revenues. Since beginning 1973, the Company has acquired the fee title interest
in 200 properties.
The Company employs experienced individuals with backgrounds in credit and real estate analysis, finance and asset management who
use established procedures and systems to identify, acquire and manage commercial net leased real estate assets. First Oxford's senior
management team, most of whom have worked together in the corporate net leased real estate business for decades, has developed an
extensive network of contacts with bankers, brokers and senior corporate managers which it uses to identify new investment
opportunities.
Prior to purchasing and leasing back a corporate property, First Oxford Corporation...
- appraises the market value and evaluates the structural integrity of the buildings and the environmental condition of the land and improvements;
- underwrites the credit quality and financial ability of the tenant to pay rent; and...
- evaluates the current and future usefulness of the property to the tenant's business operations.
Based on management's assessment of market conditions, the Company believes that opportunities exist for it to structure
additional purchase/leaseback transactions and to acquire additional net leased properties on advantageous terms.
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