Jacksonville MOB in High-Growth Corridor: 50% Pre-Leased

• Onicx is developing a 50,000 RSF, Class-A medical office building in the rapidly growing Seven Pines community of Jacksonville, FL.
• The property is strategically located near the intersection of I-295 and J. Turner Butler Blvd, with proximity to Mayo Clinic, University of North Florida, and St. John's Town Center.
• Precision Imaging Center has pre-leased 50% of the building (25,000 RSF) with a 15-year, 2-month lease term, and 3% annual rent escalations.
• Onicx is in active negotiations with prospective tenants for approximately 30% of the building, including a national ASC owner/operator for a 15,000 RSF ASC and the same medical group also in active negotiations for 3k SF of clinical space.
• Onicx is targeting a 18.4% IRR and 2.1x equity multiple for this project. These returns are projected and not guaranteed and are subject to market conditions and investment performance.
• The project is estimated to begin in Q1 2025 and achieve stabilization by Q3 2027.

• High-Growth Market: The Jacksonville MSA, particularly the southeastern area, is experiencing significant population growth, driven by a robust healthcare sector.
• Strong Anchor Tenant: Precision Imaging Center, a well-established healthcare practice with over 20 years of experience in Jacksonville, has committed to 50% of the building.
• Additional Tenant Pipeline: Approximately 30% of the remaining space has prospective tenants in active negotiation, including a national ASC owner/operator for a 15,000 RSF ASC.
• Strategic Location: Situated within the Seven Pines master-planned community, the property benefits from its proximity to major employers, transportation corridors, and affluent residential areas.
• Experienced Developer: Onicx Group has a proven track record of over 20 years in developing and managing healthcare real estate assets, with over 3 million square feet developed.
• Attractive Returns: The project is targeting a 18.4% IRR and 2.1x equity multiple over a 3-5 year hold period. These returns are projected and not guaranteed and are subject to market conditions and investment performance.

Onicx Group ("Onicx"), headquartered in Tampa, is an established multi-asset developer focused on healthcare with experience in multifamily, industrial, and mixed-use commercial real estate. Onicx is a prominent healthcare real estate developer and a trusted real estate partner for health systems and physician practices, with a longstanding focus in healthcare real estate and an unparalleled sector knowledge.

Over the course of 20 years, Onicx has developed over 3 million square feet of commercial real estate, completed on time and budget. Notably, 70% of the healthcare transactions are for existing relationships, an endorsement from its noteworthy clients. With an average executive management tenure of more than 9.5 years and a consistent high tenant satisfaction rate, the success of Onicx's platform bodes well both internally and externally. The management team has a cumulative experience of 100 years in development, finance, construction, and investor relations.

Onicx's full-service platform provides an array of services related to strategy, execution and operations. Highlighted among them are feasibility analysis, site selection, development, design, construction, acquisitions, leasing and property management. Onicx Group has an in-house construction company which allows Onicx to control the entire development cycle of the property. This is a key differentiator from traditional developers that outsource construction.

• Address: Stillwood Pines Blvd, Jacksonville, FL
• Type: Class-A Medical Office Building (MOB)
• Size: 50,000 RSF (Rentable Square Feet) / 51,430 Gross SF
• Stories: 2
• Site Control: Land Owned
• Pre-Leasing: 50% pre-leased to Precision Imaging Center (15-year, 2-month lease)
• Additional Leasing: Onicx is in active negotiations with prospective tenants for approximately 30% of the building, including a national ASC owner/operator.
• Shared Site Work: Costs for site work and shared roads will be managed by Onicx Construction and shared with adjacent parcels, including a future Lifetime Fitness location.

• Stable and Growing Sector: Driven by demographic trends, particularly the aging population, the healthcare sector is experiencing consistent growth and stability.
• Resilient Asset Class: Medical office buildings (MOBs) tend to have high occupancy rates (92% average occupancy for MOBs vs. 82% for traditional office) and are less susceptible to economic downturns compared to other commercial real estate asset classes.
• Long-Term Leases with Creditworthy Tenants: MOBs often feature long-term leases (10-20 years) with built-in rent escalations (2-4% annually), providing predictable and growing cash flows. Tenants are typically creditworthy healthcare providers.
• High Tenant Retention: MOB tenants demonstrate high retention rates, with an average lease renewal rate of 81%+.
• Shift to Outpatient Care: The healthcare industry is experiencing a significant shift towards outpatient care, driving demand for conveniently located, well-equipped medical office space. Outpatient visit growth has outpaced inpatient visits by 85% since 1995.

• Growing Demand: The 65+ population is projected to reach 20% of the total U.S. population by 2028, driving increased demand for healthcare services and, consequently, medical office space.
• Seven Pines Submarket: The Seven Pines community is a rapidly growing, affluent area within the Jacksonville MSA, making it an ideal location for a Class-A medical office building. It is a mixed-use development at the intersection of I-295 and Highway 202, providing access to high-end homes, schools, commercial and healthcare properties, and dining options.
• Limited Supply: The Southeast Jacksonville submarket has limited supply of Class-A medical office space, creating a favorable supply-demand dynamic for new development.
• Proximity to Major Employers and Amenities: The property is strategically located near major employers (including Mayo Clinic and the University of North Florida), the St. John's Town Center, and the beaches, further enhancing its desirability. The land is located within the Seven Pines Development, a master-planned community owned by the Skinner Family, one of Jacksonville's largest landowners. J. Turner Butler Blvd. (SR-202) connects Jacksonville to Ponte Vedra, providing high visibility for the MOB near St. John's Town Center, Mayo Clinic Jacksonville, and the PGA Tour Headquarters.

Disclaimer: These financial projections are estimates and not guaranteed. Actual returns may vary based on market conditions and investment performance.

• Year 1-2 (Construction): Construction of the medical office building. No distributions during this phase; a 9% annual preferred return accrues for investors.
• Year 3 (Lease-Up): Focus on leasing the remaining space to tenants. No distributions; 9% annual preferred return continues to accrue.
• Year 4 (Stabilization and Refinance): The project is projected to reach stabilization. At refinance (estimated in month 36), the accrued 9% annual preferred return is distributed to investors to the extent there are available proceeds. Quarterly distributions commence after refinance, funded by available cash flow.
• Year 5-7+ (Ongoing Operations and Sale): The property is fully operational, with continued quarterly distributions to investors. The property is projected to be sold within 3-5 years, with proceeds distributed according to the waterfall structure.

• Q1 2025: Construction Start (Estimated)
• Q1 2026: First New Lease Execution Date (Estimated)
• Q3 2026: First New Lease Occupancy (Estimated)
• Q4 2027: Full Stabilization (Estimated)
• 2028-2030: Projected Sale (Estimated, subject to market conditions)

All investors receive:

1. Repayment of debt and accrued interest
2. Repayment of member loans and accrued interest
3. Return of member capital plus 9% Preferred Return
4. Cash flow split: 80% to members / 20% to Onicx until 12% return is achieved

After 12% return:

• 60% to members / 40% to Onicx