The building constitutes condominium unit A and which measures 5,051sf as well as the associated limited common elements which include a 1,100 sf interior patio.The building (Unit A) and associated parking are on the Parcel C Reserved Development Right (“RDR”) measuring 22,267sf plus a triangular parcel measuring 4,160sf. The triangle can be added to the condominium and the excess land can be developed for more retail. Under the New Mexico Condominium Act, and per the terms of the Condominium Declaration, the RDR can be converted to up to 6 condominium units once construction of the new units have been substantially completed.

The Parcel C RDR expires on June 25, 2025.In addition, the offering includes a 50% undivided interest in the Parcel B RDR. The other 50% undivided interest belongs to another owner who also owns reserved development rights in Parcel A. See condominium plat later in this offering memo for details. Development of Parcel B RDR would require consent and cooperation of both the owners of the Parcel B RDR but would not require consent of the condominium association. Parcel B currently used for parking and cross access.