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ACQUISITIONS AND DIVESTITURES

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O'Neill Properties believes it has the largest portfolio of brownfields
in the nation, acquired at historically low valuations during the recent
recession. This provides it with a distinct competitive advantage, as a
potential competitor would not only have to duplicate the O'Neill
Properties knowledge base and intellectual capital pertaining to
brownfield redevelopment, but would also have to cost-effectively
acquire desirable properties.
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