LOGAN IS AN INSTITUTIONAL REAL ESTATE VALUATION AND CONSULTING COMPANY, SPECIALIZING IN THE VALUATION OF INDUSTRIAL PROPERTIES, SHOPPING MALLS, OFFICES AND RESIDENTIAL PROJECTS IN LATIN AMERICAN.

OUR DIFFERENTIATOR

CONFIDENTIALITY

CUSTOMER SERVICE

A COMPANY SPECIALIZED IN THE VALUATION AND CONSULTING OF COMMERCIAL AND RESIDENTIAL PROPERTIES.

We adhere to the highest global commercial real estate valuation standards USPAP and IVS. Bryan L. Dragoo, founder, has the MAI designation from the Appraisal Institute and is a member of the Royal Institute of Chartered Surveyors (RICS).

We have a multidisciplinary team with expertise in the valuation of real estate assets, valuation of portfolio management, market research and feasibility studies.

The company's foundation is built on ethics. Logan is an independent company that maintains strict confidentiality with clients.

Communication is vital to us and our clients. Our appraisers are in constant contact with clients to understand and meet their requirements.

. Highest and Best Use Studies

. Competitive Analysis

. Commercial Appraisals: Corporate Offices, Industrial Warehouses, Shopping Centers

. Residential Appraisals:

Low Income Housing Projects, Master-Planned Communities

. Mixed use Appraisal

Office, Commercial and hotel projects

. Market Rent Analysis

. Discounted Cash Flow Analysis

. Customized market research for a planned project . Institutional platform for large institutional client needs

. Trends analysis and projections

OUR SERVICES

STUDIES

APPRAISALS

MARKET DATA PLATFORM

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Our services are oriented to clients such as investment funds, banks, insurance companies, financial groups and foundations. In addition, we serve the needs of corporate clients, law firms, and tourism related operators and developers; always offering the highest level service and quality.

Service is fundamental. For this reason we are in constant contact with clients and investors in order to provide service that exceeds expectations.

TERRANUM CAPITAL PORTFOLIO

LOW INCOME HOUSING PROJECT PORTFOLIOColombia, Peru, México

PORTFOLIOAVENIDA CAPITAL

COMMERTIAL AND RESIDENTIAL REAL ESTATEBogotá, Medellín, Cali, Yopal, Bucaramanga

OUR PROJECTS VALUED

LOGAN supported Terranum Capital, now TC Latin America Partners, to evaluate ongoing projects in an innovative format that not only addressed the value of the real estate asset, but also the value of the ownership entity and specific participation of the investment fund in the project.

Valuations were conducted in different countries and currencies and reports were audited by Deloitte.

LOGAN worked with Avenida Capital in the valuation process of their assets. Avenida Capital has a wide range of investments including residential, office, retail, and mixed-use projects. On this assignment LOGAN completed the valuation of the on-going projects, valued the ownership entity after debt and equity, and the specific participation of the investment fund based on their waterfall structure in each investment. KPMG New York was the auditor and reviewed all the valuation reports.

PORTFOLIOBTG PACTUAL

Retail and Office4 assetsColombia

PORTFOLIOTERRANUM PEI

Retail, Office and Industrial 20 assetsColombia

PORTFOLIOÉXITO

Shopping Centers14 assetsColombia

PORTFOLIOFONDO INMOBILIARIO COLOMBIA

Office and Retail locations15 LocationsColombia

PORTFOLIOPARQUE ARAUCO

PORTFOLIOABACUS

Retail, Office, Industrial, Hotel22 assetsColombia

Land, Office and Retail locations15 LocationsColombia

ARTICLES

“Colombia: Nuevo Mercado Inmobiliario en Crecimiento en América Latina”

Inmobiliare, August – 2014

“Panorama de Inversion Colombia”

Inmobiliare, April - 2014

“Colombia debe mejorar en infraestructura”

Portafolio, May – 2012

“La importancia de una buena valoración para invertir en inmuebles”

La República, June - 2012

CONFERENCESRECON Latin America, ICSC

New financing sources for the real estate marketBryan L. Dragoo – Panelist

April, 2014Cartagena, Colombia

Institutional Real Estate Latin America Forum

Colombian Real Estate Opportunities for Fund ManagersRobert L. Dragoo - Moderator

April, 2015New York, United States

Andean Institutional Real Estate Forum

Colombia Real Estate Funds PerspectiveBryan L. Dragoo - Moderator

Peru Real Estate Funds PerspectiveBryan L. Dragoo - Moderator

June, 2015Bogotá, Colombia

World Office Forum

Mixed Use Projects Bryan L. Dragoo, Moderator

July, 2015Bogotá, Colombia

OURTEAM

BRYAN LOGAN DRAGOO, MAI RICSMANAGING PARTNER

LOGAN, Managing PartnerInstitutional Valuation & Advisory ServicesBogotá – Colombia, 2013 - Actually

Colliers International, DirectorValuation & Advisory ServicesBogotá - Colombia, 2012-2013

Colliers International, Senior AppraiserValuation & Advisory ServicesPhoenix – Arizona, 2010-2011

MV Consultants, Senior AppraiserInternational Real Estate Valuation & ConsultingMexico, 2006-2010

PICOR, Industrial SpecialistCommercial BrokerageTucson, Arizona, 2002-2004

APPRAISAL INSTITUTE COURSES

. Advanced Income Capitalization.

. Advanced Concepts and Case.

. Income Capitalization.

. Sales Comparison Method.

. Cost Approach and Land Value.

. General Market Analysis and H&BU Studie.

. USPAP ( Uniform Standards of Professional Practice).

. Valuation Basic Procedures.

. Valuation Principles and Advanced Applications.

. Reports Writing and Valuation Analysis.

CERTIFICATIONS AND DESIGNATIONS

. Appraisal Institute, MAI - USA

. Royal Institute of Chartered Surveyors, RICS - England

. Registro Nacional de Avaluadores, RNA - Colombia

EXPE

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LOGAN establishes the valuation standard by means of consistency in quality and in service

Bryan is the founder of LOGAN and it’s Managing Partner. He is a designated MAI and RICS member, the most important designations in the commercial valuation industry in the world.

His experience as an appraiser for more than 10 years in the USA and Latin America, make him an expert in the valuation of commercial assets and residential projects. Bryan’s vision is to provide the highest level of customer service while applying international valuation standards, in order to provide confidence to investors when making decisions.

His experience includes valuations of corporate offices, distribution centers, shopping centers, limited service hotels, residential projects and mixed use projects

In addition, Bryan has provided custom consulting services such as market, highest and best use and feasibility studies.

His clients are REITS, private investment funds, banks, insurance companies, financial groups, international corporations and law firms.

He distinguishes himself through his expertise in the investment market and discounted cash flow analysis. Since 2012, he has resided in Colombia and overseen appraisal teams performing valuation and consulting assignments regionally.

His international experience, qualifications and credentials ensure a service that exceeds client expectations.

ROBERT LOGAN DRAGOO, MBA

PARTNER

EXPE

RIEN

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COURSES

. Advanced Income Capitalization.

. Advanced Concepts and Case Studies.

. Income Capitalization.

. Sales Comparison Method.

. Valuation Basic Procedures.

. Valuation Principles and Advanced Applications.

. Reports Writing and Valuation Analysis.

. USPAP ( Uniform Standards of Professional Practice).

. Valuation Ethics.

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“La integridad y confidencialidad es la base de nuestra reputación.

Robert is a Partner and co-founder of LOGAN. His work is currently focused in Colombia and Mexico.

His specialties include portfolio valuation, retail projects, and hospitality related developments. Robert has worked in the real estate industry developing, financing and consulting on projects.

Robert graduated from the Thunderbird School of Global Management and specialized in Private Equity and Real Estate in Latin America.

He studied in COOPPEAD, Brasil and supported planning of the Colombia, Peru and Chile Private Equity Trade Mission with the Thunderbird Private Equity Center in 2012.

Currently Robert is candidate for admission in the Appraisal institute to become a designated MAI.

Deloitte FAS, ManagerReal Estate Valuation & ConsultingMéxico, 2012 - 2013

LOGAN, PartnerInstitutional Valuation & Advisory ServicesBogotá – Colombia, 2013 - Actually

Montaña Verde, Independent ConsultantInternational Real Estate Valuation & ConsultingMéxico, 2006 - 2012

Aspen Group, Associate Vice PresidentReal Estate Private Equity, DevelopmentArizona, 2003 - 2006

First National Bank of Arizona, Loan OfficerPhoenix - Arizona, 2002 - 2004

Bryan l. Dragoo, MAI, RICS

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Our specialized knowledge of institutional assets provides valuable insight to our clients when making investment decisions.

OURCLIENTS

Bryan l. Dragoo, MAI, RICS

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The consistent communication we maintain with clients assures excellence and quality in the service we provide

Terranum Inversión (PEI)

Jairo CorralesInvestment Fund Manager

+57(1) 7426060Bogotá, Colombia

Building Block Partners

Mauricio OrtizFund Manager

+57(1) 6424001Bogotá, Colombia

CREA

Claudia RobledoManager

+57(1) 4886484Bogotá, Colombia

Fondo Inmobiliario Colombia

Luis Alfonso DíazDirector

+57(4) 4043410Bogotá, Colombia

ABACUS Real Estate

Andrés AlvaradoManaging Partner+57(1) 7508066

Bogotá, Colombia

Péntaco

Gabriel FlorezFund Manager

+57(1) 7454133 ext.107Bogotá, Colombia

Base Property Group

Álvaro JaramilloPartner

+57(1) 3814926 ext.108Bogotá, Colombia

Kiruna Capital Partners

German RojasFund Manager

+57(1) 7451801Bogotá, Colombia

Avenida Capital

Michael TeichPartner

+1 212 2205813New York, EEUU

TC LAtin America Partners

Luis SantanaCFO

+1 347 8446011

BTG Pactual

Eduardo RomeroFund Manager and Merchant Banking

+57(4) 4484300Medellín, Colombia

Nexus Capital Partners

Fuad Velasco JuriFund Manager

+57(1) 3219838Bogotá, Colombia

REFERENCES

New York, EEUU

Bryan L. Dragoo, MAI, RICSManaging Partner

Robert Dragoo, MBAPartner

bryan@loganvaluation.comOffice phone:+57(1) 467 4717Mobile: +57 313 4117340Bogotá, Colombia

robert@loganvaluation.comOffice phone:+57(1) 467 4717Mobile: +57 310 5650175Bogotá, Colombia

WWW.LOGANVALUATION.COM