The US commerical real estate segment has 2.4 trillion US in loans aboout to reset in a financial market with close to zero liqudity. Want to capitalize on it? Go to: http://www.southwestfund.net/

1. Southwest Fund, L.P.
We are debt event driven real estate investors of mainly high credit tenanted
income-producing commercial assets located in major metropolitan cities of the United States.
4808 North 24th Street Suite 227 Phoenix, AZ
Tel. +1 760 631 4939 Fax +1 760 631 6939 Mobile +1 760 672 0293
www.southwestfund.net
THESE MATERIALS DO NO CONSTITUTE AN OFFER OF INTERESTS IN THE INVESTMENT PARTNERSHIPS, NOR A SOLICITATION OF AN OFFER OF
SUCH INTERESTS.

2. Disclaimer
This document contains proprietary information regarding Southwest Fund, L.P. Neither this
document nor said proprietary information shall be distributed, published, reproduced, copied,
disclosed, or used for any purpose other than the use for which it is intended and Southwest
Fund, L.P. will be held harmless of the results of any misapplication of this document. This
document is intended for the company’s business planning purposes with a view to
communicating a business opportunity to partners and investors.
This document contains information concerning Southwest Fund, L.P. that is material non-public
information and should be treated as confidential. Receipt of this document constitutes the
recipient’s acknowledgement that the recipient will maintain the information contained herein in
strict confidence.
Many of the conclusions contained in this document are the opinion of the Principals and key
employees of Southwest Fund, L.P. and are primarily based on over 25 years of experience in the
commercial real estate market and on hundreds of hours of direct and private communication with
hundreds of industry relationships. Southwest Fund, L.P. has made every effort to ensure the
accurate portrayal of those communications. Notwithstanding the above, no liability is accepted
nor warranties given for such correctness or completeness nor any action taken as a direct or
indirect result of reading this document.
The velocity of change currently evident in the global economy and in the commercial real estate
industry and the lack of clarity and direction from the world’s governments are unprecedented and
could render the information contained herein moot.
2 | October 2009 Southwest Fund, L.P.

3. About Southwest Fund (the “Fund”)
The Fund partnership invests in mainly high credit tenanted income-producing commercial
properties where the current owner (not the property) is in distress. Investments consist of retail,
office, land, and industrial properties located in major metropolitan cities of the United States.
The objective of the partnership is to maximize the total return on investors’ capital by seeking
regular income distributions through operational cash flow, development, leasing, management
fees and advisory fees.
The Fund is debt-event driven and achieves these objectives mainly through acquiring performing
properties where present ownership is overextended and face liquidity issues as a result of
unattainable debt financing or refinancing requirements.
The Fund’s management team of local experts has a strong 25+ years track record in delivering
high returns on real estate investments.
The Fund’s investor pool is limited to accredited investors (high-net-worth and institutional
investors) who benefit from attractive, risk adjusted returns with low volatility and a low correlation
to other traditional asset classes by adding real estate to a mix of other equities and fixed-income
investments.
The Fund’s management team is committed to a completely transparent business model, and
offer investor collaboration should it be desired.
3 | October 2009 Southwest Fund, L.P.

4. Target Markets
4 | October 2009 Southwest Fund, L.P.

5. Fund Overview
Distressed & Undervalued
Real Estate Investment Partnership
Maximum Offering Size: US$ 750,000,000
Minimum Investment: US$ 10,000,000
Anticipated Fund Life Cycle: 5 years + two possible 1 year extensions
Preference: 6.5% annually
Potential Liquidity Events: Quarterly Cash Flow Distributions
Net Return Goal: 17%
Management Fee: 1.25% annually
Performance Fee: 18%
Leverage: Maximum 65%
5 | October 2009 Southwest Fund, L.P.

6. Third-Party Service Providers
In process of interviewing Independent Fund Administrator
and Clearing/Transfer Agent
CPA / Audit & Tax
Legal Counsel
Debt Financing (Primary)
6 | October 2009 Southwest Fund, L.P.

7. Safeguard of Capital &
Commitment to Transparency
Southwest Fund Investors (1)
Investors U.S. Southwest Fund, LLC
(Managers)
Independent Fund Administrator (2)
(3)
Custodial Account
(US Bank Trust Department)
OUTFLOW INFLOW
Real Estate Title Company (4)
Southwest Fund, L.P. ($500 mm)
(A Delaware State based LP)
LLC Holdings A (5) LLC Holdings B (5) LLC Holdings C (5)
Property A, LLC Property D, LLC Property G, LLC
Property B, LLC Property E, LLC Property H, LLC
Property C, LLC Property F, LLC Property I, LLC
(1) Southwest Fund, L.P. managers will invest in the Fund with Investors.
An industry renowned third-party independent fund administrator will oversee the Investor funds transfer to the Custodial Bank (i.e. US Bank). Fund administrator will oversee the management,
(2)
purchase and disposition of every property to ensure proper accounting of invested funds.
Investor funds will only be released from Custodial Bank as per the Custodial Agreement between the Investor, US Bank, and Southwest Fund, L.P. While funds are being held in the Custodial
(3)
Account awaiting deployment, direct investments in U.S. guaranteed investments (i.e. U.S. Treasuries) will be made.
Once a transfer is approved to purchase a specific property, the Investor funds will be wired to a title company as per the Custodial Agreement in exchange for direct ownership interest in a pre-
(4)
approved real estate investment which will be owned and titled in the name of Southwest Fund, L.P.
(5) Single member limited liability companies owned by Southwest Fund, L.P. shall be formed to create liability diversification and prevent cross collateralization of the fund’s portfolio of assets.
7 | October 2009 Southwest Fund, L.P.

8. The Perfect Storm
Southwest Fund is Event Driven
1. Record job losses
2. National unemployment rate expected to
exceed 10.0%
3. Volatile fuel and food prices
4. Low consumer confidence
5. Record inventories due to speculative building
6. Tighter underwriting standards creating slower
inventory absorption
7. Falling home prices
(PMI expects a 15-30% correction in late 2009 - 2010)
8 | October 2009 Southwest Fund, L.P.

9. Storm Moves Beyond Housing
Southwest Fund is Event Driven
9 | October 2009 Southwest Fund, L.P.

10. Southwest Fund’s Competitive Edge
Over 120 years of combined real estate experience with a 25+ year track
We are local market experts
record of investment
Team is made up of professionals from all concentrations of the industry
(construction, finance, brokerage, and property management)
Fund principals have local knowledge of the target investment markets
(Fund is not managed from long distance)
Deal Specialists
Leveraging its extensive local real estate expertise, the Fund is able to
quickly understand, underwrite and obtain financing (if necessary) through
our in-house team of experts on even the most complex deals.
Past construction and management of several $100 million dollars in
private wealth equity.
We have proprietary access First look at potential transactions and access to proprietary information not
immediately marketed to other companies
to deal flow
Vast Local Network
The Fund has early knowledge of potential transactions through its vast
network of local industry providers with which the Fund has long-term
relationships, formed as a result of Fund principals’ solid track record of
professionalism and ability to respond quickly to deal flow originators.
10 | October 2009 Southwest Fund, L.P.

11. Debt Event Driven
Real Estate Bubble Burst Profit Driven
To curb inflation, interest rates As the economy rebounds,
rose in an overheated and properties will be redeveloped
overvalued market, causing and/or repositioned, then sold at
heavily leveraged owners to begin up to 500-700 basis points lower
defaulting.
Distressed Real Estate
Historically High Land Values
Healthy economy and historically Financing or refinancing is
low interest rates spur hyper unattainable. Real estate is
growth and heavily leveraged sold at lower prices as
transactions are commonplace. distressed owners exit.
Debt Event Driven
Investment opportunities
Property Valuation
available due to market
inefficiencies and illiquidity.
Fund to purchase at favorable
capitalization rates.
Time
11 | October 2009 Southwest Fund, L.P.

12. Debt Event Driven
Commercial real estate market typically lags the residential real estate market.
Southwest Fund has identified and underwritten performing properties tenanted by solid credit
tenants yielding 10-14% cash-on-cash returns due to debt driven events where current ownership
is overextended and unable to refinance their properties.
Home price decline
2008 - 2009
< 15 %
15-20%
20-25%
25-30%
> 30 %
12 | October 2009 Southwest Fund, L.P.

13. Investment Methodology
Debt event driven
Replacement cost estimate used
for valuation tools
Manage risk
(asset class diversification)
Multiple layered due-diligence
(in-house and outside resources)
Vast local network of real estate and
professional service advisors for
strategic consulting
Regional and local government
relationships
Utilization of financial modeling and
underwriting software
13 | October 2009 Southwest Fund, L.P.

14. Marc Makebakken
Chief Investment Officer
25 years experience in U.S. construction and real estate investments
Constructed over 500 hundred commercial buildings and several million square feet
Returned an average ROI of 192 percent versus an industry average of 118.4 percent.
Returned an average IRR of 17 – 32 percent versus an industry average of 10.7 percent
Offers a construction oriented approach to the real estate development process: a
contractor’s logical approach, a developer’s creative deal-structuring ability combined
with a portfolio manager’s discipline
14 | October 2009 Southwest Fund, L.P.

15. Chief Investment Officer
Partial Track Record of Core Business
Project Name Year(s) IRR
Savon 2 20%
Creekside Market Place 2 32%
McDonald’s 1 22%
Northern Retail Center 2 31%
Mesa Town Center 2 32%
Pinnacle Peak Plaza 1 30%
Prescott Valley Town Center 2 35%
Recker Plaza 2 30%
Broadway Center 1 24%
Jack in The Box 2 31%
Woodland Plaza 1 27%
Coors Plaza 3 19%
Kmart Center 2 27%
99th & Thunderbird Road 1 29%
75th & McDowell 1 28%
Lindsay & Warner (land sale) 1 16%
15 | October 2009 Southwest Fund, L.P.

16. Tor B. Langoy
Managing Partner
Founder of BD Globe Consulting B.V. an international consultancy firm which specializes
in brokering deals in oil & gas, renewable energy and larger real estate assets (portfolios
valued at 15-260 million Euros)
Over 15 years of diverse international business focusing on strategic business
development and sales for multinationals in U.S., Asia, Middle East and Europe
Expert at green field projects, reorganization and management of sales focused
organizations while working with executives at all levels
Previously a management consultant for Innovation Norway, the commercial arm of the
Norwegian Ministry of Trade and Commerce
16 | October 2009 Southwest Fund, L.P.

17. Key Team Members
Tim Donmoyer – Chief Financial Officer and Chief Operating Officer
Over 20 years experience in the financial services industry, including 14 years as Chief Financial Officer at
major outdoor media companies
Principal innovator and CFO of Equity Office Media Network, a startup subsidiary of Equity Office Properties
(EOP – NYSE), the real estate investment trust founded by Sam Zell
Negotiated and structured over US$ 1 billion in credit facilities with major U.S. banks and bank syndicates
Reed Larson – Investment Analyst
Over 35 years of experience in real estate development
K-Mart’s Regional Director of Real Estate
Associated Food Stores Director of Development
Expertise in the development and leasing processes
Caroline De Luca –VP Market and Development Analyst
Managed both commercial and residential properties
Commercial broker representing HSBC, Sovereign Bank and Capital One
exclusively in New York City
Residential & commercial development project management experience
17 | October 2009 Southwest Fund, L.P.

18. Key Team Members
Paul Pietsch – VP Development and Construction
26-year construction and real estate industry veteran
Constructed millions of square feet of all property types, valued in excess of US$ 100 million
Deep understanding of the entire development process
Highly proficient at completing projects on time and within budget
Bruce Stirling – Debt Provider and Servicing Specialist
Owns and manages San Diego office of Pathfinder Mortgage Corporation
Currently servicing over US$ 500 million of income-producing
commercial real estate
Direct correspondent to life insurance companies
Career representing high net worth institutional entities and
private individuals
18 | October 2009 Southwest Fund, L.P.

19. Lead Advisory Board Member
Corporate Governance & Government Liaisons
Dr. Mark J. Riedy
Founder and Executive Director of the Burnham-Moores Center for Real Estate at the University of San Diego
Chairman of the Board of Neighborhood Bancorp
Former Executive Vice President and COO of Mortgage Bankers Association of America
Former VP and Chief Economist of the Federal Home Loan Bank of San Francisco
Served as Senior Staff Economist for the President’s Council of Economic Advisors
Former President and COO of J.E. Robert Companies (leading U.S. real estate workout firm)
Former board member and former Chairman of the Audit Committee of BioMed Realty Trust (REIT – NYSE)
Former board member, Chairman of the Audit Committee, and member of the Compensation and Corporate
Governance Committees of Pan Pacific Retail Properties (PNP – NYSE)
Former chairman of the Audit Committee of American Mortgage Network (NASDAQ)
Former board member of various private banks and for St. Vincent de Paul Village,
a not for-profit organization sheltering San Diego’s homeless
Listed in Who’s Who in America since 1982
Listed in Who’s Who in the World since 2005
19 | October 2009 Southwest Fund, L.P.

20. Board Members
Corporate Governance & Government Liaisons
Larry Sheffield
Founder and Chairman Goldwater Bank
(one of the fastest growing private banks in Southwest U.S.)
Entrepreneur and real estate investor
Former New Mexico State Representative
Member of President’s White House Conference on Small Business
U.S. Secretary of Defense Joint Civilian Orientation Conference
Aaron Smith
President and designated Principal of Superfund Asset Management, Inc.
Developed distribution and marketing for Superfund throughout Europe,
the Middle East & Africa
Member of Managed Funds Association Commodity Trading Advisory
Committee
Holds Series 3, 7, 24, 31 & 66 licenses
Former financial advisor at Morgan Stanley Private Client Group
20 | October 2009 Southwest Fund, L.P.

21. Investors Communications
www.SouthwestFund.net
21 | October 2009 Southwest Fund, L.P.

22. Event Driven Press Releases
Investors and developers expect capitalization rates to rise and risk to be
repriced, with the harshest effects being felt by those who have
relied on debt strategies.
Emerging Trends in Real Estate 2008 Report, Urban Land Institute
“Depending on what happens with the U.S. economy as a whole, it
could be painful for some, but overall, a correction could be good for
the industry keeping supply and demand in balance, curbing
overdevelopment and flushing out low-quality investors.”
- Tim Conlon, Partner PricewaterhouseCoopers
“Financial shocks or disruptions are a fact of life, and our [U.S.] markets seem
to experience them every 6 – 8 years.”
- Henry Paulson, U.S. Treasury Secretary
22 | October 2009 Southwest Fund, L.P.