Navigator intends to invest primarily in high-quality real estate properties located in markets throughout the United States. The Company believes that investment opportunities in these markets are favorable because they are often overlooked by many institutional investors, resulting in less competition among buyers for properties. However, the Company will not only be limited to investing in these markets.

Our investment objectives for real estate investment are:

• First, to maximize cash distributions from our operations;
• To minimize the taxation of cash distributions from operations;
• To preserve, protect and return capital contributions; and
• To realize growth in the value of our properties upon the sale of such properties

In deciding whether and how much to invest in a property, we will weigh a number of factors including existing and prospective tenants, cash flow, opportunity for capital appreciation, location, property type, size and class, as well as other key factors.