CBRE

CBRE Retained as Exclusive Office Leasing Agent for The Gramercy;
Construction on Two 100,000 Square Foot Buil Construction on Two 100,000 Square Foot Buildings to Commence September 2013 dings to Commence September 2013 dings to Commence September 2013

Las Vegas Las Vegas–July 11 July 11 July 11, 2013 –Brad Peterson, Senior Vice President of the Las Vegas office of
CBRE, announced today that CBRE is the exclusive office leasing agent for The Gramercy, a
500,000 square foot live/work project at 9500 Russell Road, conveniently located just west of
the 215 beltway in the bustling southwestern Las Vegas valley.

The Gramercy encompasses 200,000 square feet of Class-A office and retail space encompassed in
two four-story buildings of 100,000 square feet each; a nine-story high rise with 85 apartments, a
rooftop pool and party deck; and a four-story mid-rise with 160 apartment units. This best-in-class,
amenity rich mixed-use development was recently acquired by an affiliate of California-based The
Krausz Companies, Inc. The Gramercy is developed by SWLV Development LLC which consists of
representatives of Krausz Cos. and WGH Partners. Thomas & Mack Development Group is the
development consultant overseeing construction; and Martin Harris Construction is the general
contractor.

Construction on the two 100,000-square-foot office buildings with underground parking is scheduled to
begin in September 2013 with completion and tenant occupancy set for late spring 2014. The office
buildings include spaces for a variety of different office and retail tenants. The project includes
entitlements for an additional 500,000 square feet of residential and commercial space.