Investment Overview

The Phoenix metro consists of Maricopa and Pinal counties, and includes more than 30 incorporated and more than 30 unincorporated towns and cities. As of 2020, Metro Phoenix had 4.8 million residents, making it the nation’s 11th-largest metropolitan area. Black Rock Coffee Bar (NASDAQ: BRCB) is a contemporary coffee chain with locations throughout the West Coast. There are over 200 locations open and in development throughout Oregon, Arizona, California, Washington, Idaho, Texas, and Colorado. The Taco Spot is a growing Mexican fast-casual concept with 32 locations and counting, primarily located in Tucson and Metro Phoenix. The brand is expanding throughout the country, with locations open and in development in Missouri, Florida, Texas, Utah, West Virginia, and Tennessee, signaling an active multi-market growth trajectory. Athletico is a leading national provider of outpatient physical and occupational therapy, athletic training, and related rehabilitation services, with over 900 locations across 24 states and D.C. Founded in 1991 and headquartered in Illinois, the company has scaled significantly through organic growth and strategic acquisitions, including the acquisition of Pivot Physical Therapy. The Buffalo Spot is a fast-casual wing concept known for its World Famous Buffalo Fries, jumbo wings, and made-to-order Cali burritos, operating 30 locations across California and Arizona. The brand has an established Arizona presence with 10 locations spanning Phoenix, Mesa, Tempe, Tolleson, Tucson, and Goodyear, alongside a broader base of 20 locations concentrated in the greater Los Angeles and Inland Empire markets.