PACIFIC OCEAN MALIBU SANTA MONICA

MARINA DEL REY BRENTWOOD ±3 ACRE CULVER CITY MIXED-USE DEVELOPMENT

SITE FOR: BIKE PATH ±200 RESI UNITS, COMMERCIAL, & RETAIL SEPULVEDA BLVD CULVER CITY JEFFERSON TRIANGLE

BIDS DUE: WEDNESDAY, APRIL 11, 2018 JEFFERSON BLVD BY 5:00PM www.JeffersonTriangle.com

SAWTELLE BLVD

1 WEST COLLEGE

JEFFERSON BLVD

JEFFERSON TRIANGLE

SEPULVEDA BLVD

Three Phase I reports were prepared by AEI Consultants in February of 2018. They each recommended no further investigation for the three addresses (5350 & 5380 Sepulveda Blvd. and 11111 Jefferson Blvd.). 2 To review the full Phase I documents please visit the Data Room tab at www.JeffersonTriangle.com. NORTHEAST

KENNETH HAHN STATE RECREATION AREA

WEST LOS ANGELES COLLEGE

JEFFERSON BLVD

BLANCO PARK

JEFFERSON TRIANGLE

SEPULVEDA BLVD

SEPULVEDA BLVD

SAWTELLE BLVD

3 NORTH

CENTURY CITY BRENTWOOD WESTWOOD

CULVER CITY’S TOP RATED SCHOOLS ARE LESS THAN 1 MILE FROM THE JEFFERSON TRIANGLE: DOWNTOWN FARRAGUT ELEMENTARY SCHOOL, CULVER CITY CULVER CITY MIDDLE SCHOOL, CULVER CITY HIGH SCHOOL

BALLONA CREEK BIKE PATH

SEPULVEDA BLVD JEFFERSON TRIANGLE

SAWTELLE BLVD JEFFERSON BLVD

SEPULVEDA BLVD 4 SOUTHWEST

LAX

PLAYA WESTFIELD CULVER CITY VISTA • ADIDAS • SEPHORA • BJ’S RESTAURANT • STARBUCKS • FIVE GUYS • TARGET • GOLD’S GYM • MACY’S • H&M • NORDSTROM • JC PENNEY RACK • M.A.C. COSMETICS • BEST BUY • OLD NAVY

JEFFERSON BLVD

THE PROMENADE AT HOWARD HUGHES • CINEMARK MOVIES 18 • DAVE & BUSTER’S • BUFFALO WILD WINGS SEPULVEDA BLVD • STARBUCKS • BEN & JERRY’S • BURGERS • KABUKI JAPANESE RESTAURANT • PEPPERDINE UNIVERSITY WEST LOS ANGELES BLANCO PARK CAMPUS — THE GRADUATE SCHOOL OF EDUCATION AND PSYCHOLOGY

JEFFERSON TRIANGLE

SEPULVEDA BLVD

JEFFERSON BLVD

5 TABLE OF CONTENTS

Santa

EXECUTIVE 01 SUMMARY AREA 02 OVERVIEW MARKET OVERVIEW Pacific Ocean 03

LAURIE LUSTIG-BOWER KADIE PRESLEY WILSON BENNETT ROBINSON Lic. 00979360 Lic. 01476551 Lic. 00984312 +1 310 550 2556 +1 310 550 2575 +1 818 907 4608 [email protected] [email protected] [email protected]

DAVID CROWN KYLE CROWN Lic. 01157354 Lic. 01936385 +1 323 255 9400 x224 +1 323 255 9400 x229 [email protected] [email protected]

It has been brought to our attention that a brokerage firm has been disseminating misinformation. CBRE and LAPMG welcome 6 direct contact from any prospective buyers regarding all questions, and are pleased to represent buyers directly. 01 EXECUTIVE SUMMARY

7 EXECUTIVE SUMMARY The Property is offered on CBRE, Inc. and Los Angeles Property Management Group (LAPMG) are pleased to present an opportunity to purchase a prime ±3 acre mixed-use development opportunity in an an UNPRICED basis. excellent Culver City location. Jefferson Triangle, which is made up of 3 parcels (11111 Jefferson Blvd., 5350 & 5380 Sepulveda Blvd.) is walking distance to numerous shops and amenities BIDS DUE: along retail laden Jefferson Boulevard. Across the street from the site is the Studio Village WEDNESDAY, APRIL 11, 2018 BY 5:00PM Shopping Center which is home to retailers such as Pavilions, Pier 1 Imports, TJ Maxx, Rite Aid, Carters and PetSmart. Jefferson Triangle is a short one block walk to Target, Ross, Bed Bath & Beyond; it is less than five blocks to Ralphs Grocery, and less than one mile to Trader Joe’s, Sprouts Farmers Market and BevMo!. The property is also approximately one mile to the Westfield Culver City mall, which contains retailers such as Macy’s, Nordstrom Rack, and Best Buy. Just over two miles down Jefferson Boulevard is Playa Vista’s new lively centerpiece known as “Runway”, a contemporary mixed-use community with a state-of- the-art cinema, unique restaurants and bars, beauty and fitness venues, retail shops, as well as everyday conveniences such as grocery and drug stores, banks and coffee cafes.

The site affords a developer the opportunity to construct over 200 residential units and JEFFERSON TRIANGLE retail space utilizing both the Culver City Community Benefits density bonus program, as well as SB 1818. Under these calculations 8.2% of the units would be set aside as affordable. Jefferson Triangle is currently improved with three structures consisting of a ±27,000 square foot United States Post Office (NNN lease due to expire in September of 2019), a ±6,150 square foot Coco’s Restaurant (NNN lease due to expire in October of 2019) and a ±3,100 square foot Valvoline (NNN lease can be terminated effective January of 2024). The annual gross income is $1,024,089. The Seller commissioned Phase I reports for each of the three parcels. Each report recommended that no further investigations were necessary.

Culver City is in high demand. It is experiencing a transformation on an immense scale. Over the past five years Culver City has virtually exploded with thousands of new square feet of cafes, chic restaurants, retail shops, creative office space and new housing. Due in large part to the excellent school system as well as the Expo Line extension to Santa Monica, Culver City is attracting new residents and visitors. It boasts an incredibly desirable demographic base of an affluent, young, active and highly educated populace. Jefferson ±3 ACRE Triangle’s close proximity to Silicon ’s 500+ tech startup companies and the easy CULVER CITY MIXED-USE access it enjoys not only to the Pacific Ocean, but also to the basin via the 405 freeway, make it an ideal location for a mixed-use development of this scale. DEVELOPMENT SITE

Jefferson Triangle is offered to the market on an unpriced basis. Offers are due Wednesday, April 11, 2018 by 5:00PM.

8 OPPORTUNITY HIGHLIGHTS

Rare ±3 acre Culver City development opportunity.

Desirable dense urban infill location.

Located in close proximity to the Silicon Beach tech & entertainment employment center.

Easy access to prime Los Angeles shopping, dining, and entertainment areas including: Downtown Culver City, The Helms Bakery District, Culver City Arts District, Marina del Rey, Play Vista and Century City.

14 minute drive to the Pacific Ocean.

Retail exposure: Excellent street frontage on highly trafficked, signalized intersections. Sepulveda Blvd. & Sawtelle Blvd. Average Daily Trips — 48,030 (2004) Sepulveda Blvd. & Jefferson Blvd. Annual Average Daily Traffic Count — 52,000(1998)

The high ranking Culver City Unified School District attracts young families to Culver City.

11111 Jefferson’s Walk Score™ is 87. Most errands can be accomplished on foot.

Three Phase I reports were prepared by AEI Consultants in February of 2018. They each recommended no further investigation for the three addresses (5350 & 5380 Sepulveda Blvd. and 11111 Jefferson Blvd.). 9 plat map PROPERTY DETAILS

NOT PART OF SITE Address 11111 Jefferson Boulevard, Culver City, CA 90230 5350 , Culver City, CA 90230 5380 Sepulveda Boulevard, Culver City, CA 90230 JEFFERSON SEPULVEDA BLVD.TRIANGLE Estimated Lot Area 132,786 SF 3.05 Acres

Assessor Parcel Number 4215-001-016 4215-001-010 4215-001-013

Zoning: The site is zoned Commercial General (CG), which allows for the development of mixed-use multi-family by-right. The adjacent parcel (highlighted in yellow) is owned by the Exceptional Children’s Foundation. Per conversations with the Culver City Planning Division, the subject property will likely qualify for “Adjacent to Non-Residential Zone” development standards².

Links: ¹Culver City Zoning Map ²Culver City Housing Element

WWW.JeffersonTriangle.COM 10 ZONING & ENTITLEMENT

Height Limit: Commercial General (CG): 56 feet Additional height available with SB 1818.

Density Limit: Commercial General (CG): 35 units/acre Community Benefits³: 50 units/acre SB 1818: Up to 35% more units Per Culver City Planning Division, a developer can use both Community Benefits and SB 1818 together. Per CG zoning, no more than 25% of units can be less than 700 SF in size.

Multi-Family Parking Requirements: Studio and 1 bedroom units, up to 900 SF: 1 space per unit 2-3 bedroom units: 2 spaces per unit

Retail Parking Requirements: Varies per use, see Culver City Housing Element² link below.

Links: ¹Culver City Zoning Map ²Culver City Housing Element ³Culver City Community Benefits

11 LEASE ABSTRACT MOST LESSOR DATE OF NEXT RENT LEASE LEASE RENEWAL RENEWAL MONTHLY TENANT ADDRESS APN BLDG SF RECENT TERMINATION NEXT RENT INCREASE NNN START END EXPIRATION OPTION? RENT RENEWAL RIGHTS INCREASE AMOUNT

USPS 11111 Jefferson 4215-001-016 27,043 5/3/1960 9/6/2019 9/7/2016 9/6/2019 None N/A $60,515 N/A N/A Yes

Coco's 5350 Sepulveda 4215-001-010 6,151 9/14/1967 10/15/1987 10/1/2017 10/13/2019 None N/A $18,925 N/A N/A Yes

$708.08 Valvoline 5380 Sepulveda 4215-001-013 3,138 3/1/1999 3/1/2014 3/2/2014 3/1/2019 Yes* Yes** $5,900 3/2/2020 Yes (12%)

Total $85,340

* Excerpt from Original Lease, Section 3: Lessor hereby grants the Lessee an option (the “Option”) to extend the Lease Term upon the same terms and conditions as those contained in this Lease... by giving written notice to Lessor at least nine (9) months but no more than twelve (12) months before the end of the Lease Term.

* Excerpt from First Amendment to Lease, Section 2: Lessee shall have three (3) five (5) year options and one (1) four (4) year option to extend the term of the lease, for a total term, including the initial term and all extensions, if exercise, of thirty four (34) years.

** Notwithstanding the foregoing, if Lessee has exercised the first two (2) five (5) year options to extend and has given notice of its intention to exercise the third five (5) year option to extend, Lessor shall have the right to terminate the Lease within two hundred ten (210) days of the date Lessee notifies lessor of the exercise of the third five (5) year option. Lessor’s right to terminate the Lease shall be conditioned upon the following: (a) Lessee exercises the third five (5) year option; (b) Lessor notifies Lessee, in writing, at any time within the two hundred ten (210) day window of Lessor’s right to terminate, of Lessor’s intention to terminate; and (c) Lessor has elected to re-develop the Premises (and said re-development may be in conjunction with other property or properties owned by Lessor within one thousand (1,000 feet of the Premises) as evidenced by a filed conditional use permit application, building permit application or similar application with the applicable governmental agency (referred to herein as “Application”). The Application may be submitted by Lessor, Lessor’s assigns, agents, attorneys, prospective tenants of Lessor (or their representatives), future tenants of Lessor (or their representatives) or any one else who has obtained authorization from Lessor to file the Application. Lease can be terminated effective January of 2024.

12 02 AREA OVERVIEW

13 WEST

MARINA DEL REY SANTA MONICA

BALLONA CREEK BIKE PATH

SEPULVEDA BLVD SAWTELLE BLVD

JEFFERSON TRIANGLE

JEFFERSON BLVD

14 CULVER CITY Culver City is in high demand. It has become a prime destination to work, dine, shop and revel in the beauty of this historic movie town and its dynamic art scene. Culver City has become a focal point for culture and nightlife hosting an array of events while providing the clean and efficient transportation to reach them.

Culver City boasts an incredibly desirable demographic base - affluent, young, active and highly educated. With its centrality and a growing amount of retail as well as its housing and transportation options, many are choosing to live, work, and play in Culver City.

Situated 1.7 miles from Jefferson Triangle, Sony Pictures Studios is one of the world’s most storied locations for motion picture production. Dating back nearly a century, the Culver City lot has been the site of countless entertainment classics, including Ben-Hur, Mutiny on the Bounty, Grand Hotel, The Wizard of Oz, and Singin’ in the Rain. Today, the studio continues to be a premier facility for film and television productions of all types, offering an impressive array of stages, state-of-the-art post- production facilities and world-class support services amid an inspiring, historical setting.

Culver City is in demand

Culver City is experiencing a transformation on an immense scale. Once a sleepy submarket within Greater Los Angeles, over the last ten years Culver City has virtually exploded with thousands of new square feet of cafes, chic restaurants, retail shops, office space and new housing. This is due in large part to the excellent school system as well as the Expo Line, connecting Culver City to Santa Monica. Culver City residents can conveniently travel to Downtown Los Angeles, Santa Monica, , Pasadena, Long Beach and beyond. Culver City is attracting new residents and visitors from all over Los Angeles.

15 DOWNTOWN CULVER CITY Downtown Culver City is a charming collection of outdoor cafes, unique shops, art galleries, creative offices and vibrant nightlife opening onto tree-lined boulevards. It boasts a City Hall of stunning architecture, Center Theatre Group’s nationally renowned Kirk Douglas Theatre. Striking landmark buildings are home to an array of entrepreneurial businesses and creative enterprises, along with a wide selection of retail and restaurant services for local residents to enjoy. Downtown Culver City offers the perfect combination of small- town charm, with all the benefits of cosmopolitan big-city living.

Downtown Eateries Include: Akasha. Novecento, AR Cucina, Bacoshop, Roccos Tavern, Rush Street, Public School 310, Tender Greens, Meet in Paris, Wildcraft, Ford’s Filling Station, and Father’s Office.

PLATFORM Just a 10 minute drive from the Jefferson Triangle is the new creative retail hub in Downtown Culver City known as Platform. Restaurants include Blue Bottle Coffee, Hayden Sweet Green, Loqui, Sao Acai, The Cannibal, and Van Leeuwen.

Retailers include Aesop, Bird Brooklyn, Freda Salvador, Linda Farrow, Magasin, Reformation, Poketo, Tom Dixon, and Velvet.

Boutique wellness experiences include Soulcycle and Tenoverten.

16 PLAYA VISTA Playa Vista is situated just over two miles west of the Jefferson Triangle along Jefferson Boulevard. It has become a destination in its own right with attractions such as the new Runway mixed-use commercial and social center that includes an approximate 200,000 square foot shopping center along with apartments and office space. Retailers at Runway include Whole Foods Market, Cinemark, Sol Cocina, Panini Café, Hal’s Bar & Grill, 800 Degrees as well as a new Cedars-Sinai Primary Care and Urgent Care facility.

Next door to Runway is the Campus, home to Playa Vista’s emerging tech hub. From titans like YouTube, Space LA, and IMAX, to creative powerhouses like 72andSunny and USC’s Institute of Creative Technologies, Playa Vista has become fertile ground for innovation and connection.

MARINA DEL REY Just a 10 minute drive away is the seaside neighborhood of Marina Del Rey. Marina Del Rey offers visitors some of the best LA , walking trails, bayside dining, water activities and luxury accommodations such as the Ritz Carlton Hotel.

Marina Del Rey also features two premium shopping centers; The Waterside and Villa Marina Marketplace. The Waterside includes restaurants such as Sugar by Sushi Nozawa, Kreation, Mendocino Farms, Mainland Poke, Starbucks, Rainbow Acres, Fresh Brothers, Chipotle and Pizza Kitchen. Retailers include Ann Taylor Loft, L’occitane, DryBar, Havaianas, and Brighton. Villa Marina Marketplace features the Yard House, AMC Movie Theater, The Coffee Beans, DSW, Equinox, Gelson’s Market, Irori Sushi, Jamba Juice, Men’s Wearhouse, Pier 1 Imports, Ruth’s Christ Steak House to name a few.

17 DRIVE TIMES FROM 11111 JEFFERSON BLVD. CULVER CITY, CA

Downtown Culver City 2.2 MILES - 10 MINUTES

Playa Vista 2.9 MILES - 12 MINUTES

Beverly Hills 2.3 MILES - 12 MINUTES Downtown

LAX 4.7 MILES - 15 MINUTES

Santa Monica 7.2 MILES - 17 MINUTES

Venice Beach 5.3 MILES - 18 MINUTES

Hollywood 7.7 MILES - 39 MINUTES

Downtown Los Angeles 11 MILES - 47 MINUTES

18 2017 DEMOGRAPHIC HIGHLIGHTS

3 Miles within a 0.5 Mile Radius • 62% of the population, 25 years and older, had a Bachelor’s Degree, Graduate Degree, or other Professional Degree. • The Average Household Income was $128,321. within a 1 Mile Radius 1 Miles • The 2017 population was 23,581 people. 0.5 Miles • That number is expected to grow by 2.7% to 24,218 people in 2022. within a 3 Mile Radius • 35% of Households had an income of $100,000 or more. • 11% of Households had an income of $250,000 or more.

19 Jefferson Triangle is Minutes to TOP EMPLOYERS Silicon Beach Silicon Beach is home to over 500 tech startup companies. It is Culver City top employers include: situated on Los Angeles’ westside in a coastal strip north of LAX and RANK EMPLOYER EMPLOYEES extending into Santa Monica. Major technology companies have opened offices in the region including Google, Yahoo!, YouTube, 1 Sony Pictures Entertainment 3,400 BuzzFeed, Facebook, Salesforce, AOL, Electronic Arts, EdgeCast Networks, and MySpace. Other Silicon Beach employers include: Hospital at Culver City 2 1,167 (formerly Brotman Medical Center) 3 City of Culver City 871 Marina Del Rey Playa Vista • Telesign • Facebook 4 Culver City Unified School District 760 • Dollar Shave Club • Youtube • CinemaNow • Microsoft 5 Goldrich & Kest Industries, LLC 717 • Jib Jab Bros. Studios • Verizon/EdgeCast • Yahoo 6 Symantec 700 Santa Monica • TMZ • Google • Sony Playstation 7 West Los Angeles College 600 • Yahoo • Electronic Arts 8 Target 575 • Twitter • Belkin • Oracle • IMAX 9 NFL Media 525 • Edmunds.com • ICANN • Zip Recruiter • The Honest Company 10 Apple, Inc. 460 • Salesforce • Hulu El Segundo • Activision • DirecTV/AT&T Santa Monica • Dogvacay • Mattel • Raytheon Venice • Boeing Culver City • Google • Northrup Grumman • Snapchat • Kite Pharma • Creators Media, Inc. • Keysight Technologies • Brilliant Bicycle Co. • Centerfield Venice • WaiveCar • Teledyne Controls • Wevr • Redline

Playa Vista Marina Del Rey Los Angeles International Airport Los Angeles International Airport (LAX) is located approximately Pacific Ocean El Segundo five miles from Jefferson Triangle. In 2016 LAX handled 80,921,527 passengers, making it the world’s fourth busiest airport by passenger Los Angeles traffic. Roughly 59,000 local jobs are directly attributable to LAX.

International 20 Airport The Ballona Creek and Bike Path

Ballona Creek connects Jefferson Triangle to Marina Del Rey. The Ballona Creek Bike Path starts at Syd Kronenthal Park in east Culver City and extends about 7 miles to the Bike Path along the beach. Significant bike path improvements in recent years include native landscaping, artist-designed gates, benches, drinking fountains, murals and other projects by public agencies and local non-profit organizations. This continuing process is creating a pleasant recreational facility for riders, walkers, joggers and skaters, including families, and is also used by some to commute to work by bike.

SANTA MONICA CULVER CITY Marina del Rey – Considered the coastal playground of Los Angeles, Marina del Rey is an unincorporated seaside community which is home to the world’s largest man-made small-craft harbor with eight basins having capacity for 5,300 boats. Visitors can enjoy the beaches, bike the various coastal bike paths, or take in one of the numerous water activities, such as kayaking, sport fishing or JEFFERSON BLVD LINCOLN BLVD sailing. VENICE BLVD

UCLA Marina Aquatic Center – The Marina Aquatic Center (MAC) is UCLA’s premier water- 21 mins front recreation facility in scenic Marina del Rey. It is 3.7 miles home to kayaking, rowing, sailing, surfing, stand up paddleboarding and windsurfing classes, as well as the UCLA Men’s and Women’s Rowing Teams, UCLA Sailing Team, MAC Junior Rowing Team, and youth CULVER BLVD VENICE boating programs. Rentals are open to the public. FOX HILLS

Fisherman’s Village – Constructed in the style of a New England fishing village, Fisherman’s MARINA DEL REY Village is a waterfront mall comprised of five brightly JEFFERSON BLVD painted wooden buildings. Visitors can dine on the waterfront, take in a concert, or hire a boat. The Village offers panoramic views of the harbor in BALLONA which approximately 5,300 pleasure boats, yachts and commercial vessels are berthed in 21 individual marinas including yacht clubs. LINCOLN BLVD

SEPULVEDA BLVD Ballona Wetlands Ecological Reserve – Comprised of roughly 600 acres, the Ballona Wetlands are one of the last significant wetlands WESTCHESTER areas in the Los Angeles basin. Named for Port PLAYA DEL REY Ballona and Ballona Creek, which now runs through the area as a flood control , the Wetlands have been visited by about 300 bird species. While PACIFIC OCEAN much of the reserve is currently closed to the public, there are opportunities to visit Ballona, including weekend tours and monthly volunteer restoration events.

21 Metro Rail & Busway metro.net

Chatsworth Amtrak & Metrolink

Nordhoff Lake Allen Sierra MadreArcadia VillaMonroviaDuarte/CityIrwindale of HopeAzusa DowntownAPU/Citrus College METRO EXPO Roscoe Memorial Park Sherman Way SAN GABRIEL VALLEY Del Mar Canoga De Soto Pierce CollegeTampa Reseda Balboa Woodley SepulvedaVan NuysWoodmanValley CollegeLaurel Canyon North Hollywood Fillmore Universal City/Studio City LINE Warner Ctr Hollywood/Highland South Pasadena

Hollywood/Vine Highland Park

Hollywood/Western Southwest Museum CENTRAL LA Vermont/Sunset Heritage Sq

Vermont/Santa Monica Lincoln/Cypress JEFFERSON TRIANGLE is located Chinatown approximately 3 miles from three Vermont/Beverly PURPLE LINE EXTENSION Wilshire/WesternWilshire/Normandie Union Station Wilshire/Vermont Amtrak & Metrolink separate Metro stations on the EXPO Civic Ctr/GrandGrandGrandGrand Ctr/Civic Ctr/Civic Ctr/ParkParkParkPark Metrolink LAX FlyAway LAC+USC MedicalCal State Ctr LA El Monte Westlake/MacArthur Park

Line: Palms, Culver City, and La Cienega/ WESTSIDE REGIONAL 7th St/Metro Ctr CONNECTOR Jefferson Stations. The Expo Line allows Pico Pershing Square LATTC/Ortho Soto passengers the ability to travel to the Institute LittleArts Tokyo/ Dist Indiana Atlantic DOWNTOWN Pico/Aliso Maravilla LA Pacific Ocean in less than 20 minutes, Rail Station Grand/LATTC East LA Civic Ctr Downtown17th Santa St/SMC Monica26th St/BergamotExpo/BundyExpo/SepulvedaWestwood/RanchoPalms Culver Park CityLa Cienega/JeffersonExpo/La BreaFarmdaleExpo/CrenshawExpo/WesternExpo/VermontExpoPark/USC Transfer and to Downtown Los Angeles in less ◄ Palms EASTSIDE Station BuswayStation 37th St/ San Pedro St ◄ Culver City USC Busway Street than 40 minutes. Service ◄ La Cienega/Jefferson UNDER Jefferson/USC Washington CONSTRUCTION

The Metro Expo Line connects Los Slauson Vernon Metro Rail SOUTH LA Slauson River Angeles Los Angeles’ Westside by rail with Downtown CRENSHAW/ LAX LINE Red Line North Hollywood to Union Station Manchester Florence Los Angeles, Hollywood, the South , PACIFIC OCEAN Purple Line Wilshire/Western to Union Station Long Beach, Pasadena and the San Firestone Blue Line Downtown LA to Long Beach Fernando Valley. With 10 new stations Expo Line 103rd St/ Downtown LA to Santa Monica serving Culver City, Santa Monica, USC Green Line Willowbrook/ Redondo Beach to Norwalk LAX Shuttle G Rosa Parks Aviation/LAXHawthorne/LennoxCrenshawVermont/Athens Harbor FwyAvalon Long Beach LakewoodBl NorwalkBl Gold Line (University of Southern California) and LAX East Los Angeles to Azusa

Downtown Los Angeles, the Metro Rail Metro Busway Mariposa Rosecrans Compton Orange Line system will expand 80 stations over Chatsworth to North Hollywood El Segundo Harbor Artesia Gateway Silver Line 87 miles of rail destinations across LA Transit Ctr GATEWAY CITIES San Pedro to El Monte Douglas Del Amo Street Service in Downtown LA County. and San Pedro Carson Wardlow Redondo Beach Regional Rail

Willow St Amtrak Phase II of the Expo-line extends the SOUTH BAY amtrak.com Metrolink Pacific Pacific Coast Hwy metrolinktrains.com rail system west of Culver City station to Coast Hwy Santa Monica, ending at the Colorado Anaheim St Airport Shuttle LAX FlyAway and 4th Street Station. The expansion, Pacific 5th St lawa.org/flyaway Av LAX Shuttle (free) lawa.org which was completed in 2016 links San Pedro Downtown 1st St Long Beach OCTMAY 2016 2016 SubjectSubject to to Change

Downtown Los Angeles to the Pacific LACMTA ©2016 17-0753 Ocean. The Expo Line has approximately 27,260 daily riders (2015) with ridership expected to reach 640,000 by 2030. WWW.JeffersonTriangle.COM 22 03 MARKET OVERVIEW

23 MULTIFAMILY RENT SURVEY Source: CBRE Inc.

PROJECT NAME

1 Villas at Playa Vista I - Montecito

2 Villas at Playa Vista II - Malibu

3 Villas at Playa Vista III - Sausalito

4 Access Culver City

5 Harlow Culver City

6 Victor on Venice

7 Altitude

8 M Lofts

24

© 2018 CBRE Limited. Data © TeleAtlas, Google, AerialExpress, DigitalGlobe, Landiscor, USGS, i-cubed. The information contained herein (the “Information”) is intended for informational purposes only and should not be relied upon by recipients hereof. Although the Information is believed to be correct, its accuracy, correctness or completeness cannot be guaranteed and has not been verified by either CBRE Limited or any of its affiliates (CBRE Limited and its affiliates are collectively referred to herein as “CBRE”). CBRE neither guarantees, warrants nor assumes any responsibility or liability of any kind with respect to the accuracy, correctness, completeness, or suitability of, or decisions based upon or in connection with, the Information. The recipient of the Information should take such steps as the recipient may deem appropriate with respect to using the Information. The Information may change and any property described herein may be withdrawn from the market at any time without notice or obligation of any kind on the part of CBRE. The Information is protected by copyright and shall be fully enforced.

Layout ID:L04 MapId:5148845 MULTIFAMILY RENT COMPARABLES 01 SELECT RENT COMPARABLES COMPARABLE 1 VILLAS AT PLAYA VISTA I - MONTECITO 12855 Runway Rd 2 + 2 Den Playa Vista, CA 90094 22% 1 + 1 43% Year Built: 2016 Units: 309 PHOTO Occupancy: 96% Phone: 949.430.4323 Owner: The Irvine Company 2 + 2 Manager: The Irvine Company 21% 1 + 1 Den 14%

Type Number of Units Effective Rent Unit Square Feet Rent per SF 1 + 1 131 $3,700 - $4,100 938 - 1,053 $3.89 - $3.94 1 + 1 Den 43 $4,100 1,007 - 1,011 $4.06 - $4.07 2 + 2 66 $5,100 - $5,500 1,344 - 1,364 $4.03 - $3.79 2 + 2 Den 69 $5,500 1,431 - 1,537 $3.58 - $3.84

Amenities: Full-Size W/D In-Unit USB Outlets Clubhouse Internet Lounge/Business Center Quartz Countertops On-Site Concierge Team BBQ Areas Dog Wash Bay Hardwood-Style Flooring/Custom Tile Pool/Spa Private Dining Room Electric Car Chargers Viking Appliances Outdoor Kitchen/Dining Areas Wine Cellar Parcel Lockers Wine Refrigerators Outdoor Lounges w/ Fireplaces Fitness/Yoga Studios 02 SELECT RENT COMPARABLES COMPARABLE 2 VILLAS AT PLAYA VISTA II - MALIBU 2 + 2 Den 12665 Village Ln 3% Playa Vista, CA 90094 2 + 2 Year Built: 2016 38% 1 + 1 Units: 491 PHOTO 49% Occupancy: 96% Phone: 949.430.4324 Owner: The Irvine Company 1 + 1 Den Manager: The Irvine Company 10%

Type Number of Units Effective Rent Unit Square Feet Rent per SF 1 + 1 241 $3,945 - $3,395 855 - 1,080 $3.65 - $3.97 1 + 1 Den 50 $4,075 1,041 $3.91 2 + 2 188 $4,200 - $4,300 1,184 - 1,352 $3.18 - $3.55 2 + 2 Den 12 $4,400 - $4,600 1,352 $3.25

Amenities: Full-Size W/D In-Unit Custom Tile Backsplash Courtyard Lounge/BBQ Areas Parcel Lockers Quartz Countertops Pools/Spas Fitness Studio/Yoga Lounge Hardwood-Style Flooring Outdoor Kitchen/Dining Area Dog Wash Bay 25 Stainless Steel Appliances Clubhouse Electric Car Chargers MULTIFAMILY RENT COMPARABLES 03 SELECT RENT COMPARABLES COMPARABLE 3 VILLAS AT PLAYA VISTA III - SAUSALITO 12411 Fielding Cir Playa Vista, CA 90094 2 + 2 45% Year Built: 2016 Units: 703 1 + 1 PHOTO Occupancy: 94% 54% Phone: 855.370.8860 Owner: The Irvine Company 1 + 1 Den Manager: The Irvine Company 1%

Type Number of Units Effective Rent Unit Square Feet Rent per SF 1 + 1 382 $2,700 - $3,300 740 - 994 $3.32 - $3.65 1 + 1 Den 4 N/A 927 N/A 2 + 2 317 $4,100 - $4,300 1,094 - 1,230 $3.50 - $3.75

Amenities: Full-Size W/D In-Unit Outdoor Kitchen/Dining Area Great Room Electric Car Chargers Quartz Countertops Outdoor Lounge/Fireplace/BBQ Areas Fitness Center w/ Yoga Room Parcel Lockers Hardwood-Style Flooring Outdoor Theater Internet Lounge Stainless Steel Appliances Clubhouse Conference Center Pool/Spa Zen Garden Dog Wash Bay 04 SELECT RENT COMPARABLES COMPARABLE 4 ACCESS CULVER CITY 0 + 1 3 + 3 TH 8770 Washington Blvd 3% Los Angeles, CA 90232 9% Year Built: 2016 2 + 2 Loft Units: 115 PHOTO 10% Occupancy: 95% Phone: 844-788-1276 Owner: Greystar 2 + 2 1 + 1 Manager: Greystar 29% 49%

Type Number of Units Effective Rent Unit Square Feet Rent per SF 0 + 1 3 $2,906 - $3,048 607 $4.79 - $5.02 1 + 1 56 $3,082 - $3,500 738 - 762 $4.18 - $4.59 2 + 2 34 $4,083 - $4,700 1,104 - 1,114 $3.70 - $4.22 2 + 2 Loft 12 $4,985 - $5,370 1,289 $3.87 - $4.17 3 + 3 TH 10 $6,583 - $7,356 1,758 - 1,984 $3.71 - $3.74

Amenities: W/D In-Unit Private Patio/Balcony Available Pool/Spa Observation Deck Hardwood-Style Floors/Tile Kitchen Backsplash Outdoor BBQ/Kitchen/Fireplace/TV Free Wifi In Common Areas Quartz Countertops Elevator Cabana On-Site Retail Stainless Steel Appliances Fitness Center Zen Lounge Across Street From Expo Line 26 Kitchen Island Available Clubroom w/ Kitchen, Gaming, TV Indoor/Outdoor Yoga Lounge MULTIFAMILY RENT COMPARABLES

05 SELECT RENT COMPARABLES COMPARABLE 5 HARLOW CULVER CITY 3 + 2 3 + 3 9901 Washington Blvd 5% 2% Los Angeles, CA 90232 2 + 2 Year Built: 2016 14% Units: 131 PHOTO Occupancy: 95% 2 + 1 Other Phone: 310.504.3888 1% 46% Owner: SPI Holdings 1 + 1 Manager: Lincoln Property Company 32%

Type Number of Units* Effective Rent Unit Square Feet Rent per SF 1 + 1 38 $2,710 - $3,212 659 - 695 $4.11 - $4.62 1 + 1 Loft 1 $3,398 737 $4.61 1 + 1.5 Loft 6 $3,095 - $3,725 809 - 883 $3.83 - $4.22 2 + 1 2 $3,635 825 $4.41 2 + 1.5 3 $3,750 833 $4.50 2 + 1 Loft 3 $3,050 - $3,745 771 - 848 $3.96 - $4.42 2 + 1.5 Loft 27 $3,355 - $4,425 890 - 1,228 $3.60 - $3.77 2 + 2 17 $3,790 - $4,662 914 - 1,161 $4.02 - $4.15 2 + 2.5 2 $4,895 1,154 $4.24 2 + 2.5 Loft 5 $3,650 - $4,825 1,013 - 1,349 $3.58 - $3.60 3 + 1.5 Loft 2 $4,255 1,023 $4.16 3 + 2.5 Loft 6 $4,300 - $5,929 961 - 1,694 $3.50 - $4.47 3 + 2 6 $4,700 - $5,050 1,194 - 1,251 $3.94 - $4.04 3 + 3 2 $5,100 1,315 $3.88 * Does not include the affordable units Amenities: Full Size W/D In-Unit Patio/Deck Business Center Concierge Hardwood-Style Flooring/Carpet Resident Lounge Terrace w/ Fire Pit Stone Countertops Conference Room Fitness Center

27 MULTIFAMILY RENT COMPARABLES 06 SELECT RENT COMPARABLES COMPARABLE 6 VICTOR ON VENICE Live/Work 10001 Venice Blvd 2% 0 + 1 Los Angeles, CA 90034 5% Year Built: 2006 Units: 115 PHOTO Occupancy: N/A 2 + 2 Phone: 310.815.1355 31% Owner: Equity Residential 1 + 1 Manager: Equity Residential 62%

Type Number of Units Effective Rent Unit Square Feet Rent per SF 0 + 1 6 N/A 592 - 613 N/A 1 + 1 71 $2,685 - $2,829 729 - 1,100 $2.57 - $3.68 2 + 2 36 $3,495 - $3,539 1,190 - 1,313 $2.70 - $2.94 Live/Work 2 N/A 1,079 - 1,180 N/A

Amenities: W/D In-Unit Patio/Balcony Theater Room Hardwood Floors Quartz Counters Pool/Spa Stainless Appliances Fitness Center 07 SELECT RENT COMPARABLES COMPARABLE 7 ALTITUDE 5900 Center Drive 2 + 2 0 + 1 Los Angeles, CA 90045 23% 26% Year Built: 2016 Units: 545 PHOTO Occupancy: 96% Phone: 844.788.1276 Owner: Equity Residential 1 + 1 Manager: Equity Residential 51%

Type Number of Units Effective Rent Unit Square Feet Rent per SF 0 + 1 141 $2,523 - $2,646 448 - 686 $3.86 - $5.63 1 + 1 281 $2,480 - $2,753 660 - 873 $3.15 - $3.76 2 + 2 123 $3,186 - $3,713 1,080 - 1,223 $2.95 - $3.04

Amenities: W/D In-Unit Glass Tile Backsplash Heated Salt Water Pool Package Service Hard Surface Flooring Island Kitchen Hot Tub Free Wifi in Clubhouses and Lounges Quartz Countertops Acrylic Cabinets Courtyards with BBQ Areas Stainless Steel Appliances Private Balcony Clubroom w/ Billiards and Computers 28 MULTIFAMILY RENT COMPARABLES

08 SELECT RENT COMPARABLES COMPARABLE 8 M LOFTS 0 + 1 3425 Motor Ave 7% Los Angeles, CA 90034 Year Built: 2014 Units: 115 Jr 1 + 1 PHOTO Occupancy: 99% 1 + 1 35% Phone: 310.280.3900 58% Owner: Frost Chaddock Manager: Frost Chaddock

Type Number of Units Effective Rent Unit Square Feet Rent per SF 0 + 1 8 $2,195 - $2,250 380 $5.78 - $5.92 Jr 1 + 1 40 $2,350 - $2,450 370 - 400 $6.13 - $6.35 1 + 1 67 $2,650 - $2,800 580 - 620 $4.52 - $4.57

Amenities: W/D In-Unit (Select Units) Quartz Counters Fitness Center Outdoor Fireplace Laundry Facilities Polished Concrete Floors Resident Lounge WiFi Stainless Steel Appliances Patio/Balcony Dog Run Ground Floor Retail

29 RETAIL RENT COMPARABLES

Date Range: 2015 to 2017 Source: CBRE Inc.

TERM (IN ADDRESS SF RENT/SF TYPE LESSEE MONTHS)

1 3844 - 3849 Overland Ave. 1,118 $7.50 NNN 60 Robeks

2 3824 Culver Blvd. 1,100 $6.25 NNN 60 Subway

3 4137 Sepulveda Blvd. 2,646 $5.48 NNN 120 Holy Cow

4 3851 Overland Ave. 4,309 $5.33 NNN 60 At&T Mobility

5 9901 / 3855 Washington Blvd. 2,395 $5.25 NNN 120 Le Pain Quotidien

6 4114 Sepulveda Blvd. 1,210 $5.25 NNN 60 Rita's Italian Ice

7 8770 Washington Blvd. 3,199 $5.15 FSG 120 Bank of the West

8 4130 Sepulveda Blvd. 1,865 $4.79 NNN 147 Ziggy's Barber Shop

9 3850 - 3863 Culver Blvd. 1,778 $4.37 NNN 36 LA Federal Credit Union

30 SELECT SOLD MULTIFAMILY PROPERTIES

Search Criteria: LA County, 100 Units or More, Over $520 PSF Source: CoStar; Sorted by Price Per SF

ADDRESS CITY ZIP UNITS SALE PRICE CAP RATE $/UNIT $/SF BLDG SF YR BLT SALE DATE

680 S. Berendo St. Los Angeles 90005 321 $117,000,000 4.80 $388,704 $598 195,545 2014 9/21/17

1001 S. Olive St. Los Angeles 90015 201 $110,000,000 N/A $547,264 $589 186,679 2017 4/24/17

8500 W. Sunset Blvd. Los Angeles 90069 190 $168,200,000 N/A $885,263 $576 292,240 2017 6/27/17

685 S. New Los Angeles 90005 177 $67,400,000 4.25 $380,791 $556 121,200 2016 10/6/17 Hampshire Ave.

1724 N. Highland Ave. Hollywood 90028 270 $132,500,000 3.70 $490,741 $556 238,441 2010 1/3/17

North 5416 N. Fair Ave. 91601 438 $206,479,724 N/A $471,414 $545 378,717 2007 9/19/17 Hollywood

211 N. Valley St. Burbank 91505 145 $59,000,000 3.60 $406,897 $534 110,566 1974 11/9/17

5520 Wilshire Blvd. Los Angeles 90036 175 $105,000,000 N/A $600,000 $525 200,000 2016 1/31/17

31 SELECT CONDOMINIUM SALES COMPARABLES 2-Mile Radius of Subject Property, Over $600 PSF, Sold January 1, 2017 to January 19, 2018 Source: The MLS; Sorted by Price Per SF

ADDRESS CITY ZIP BED BATH SF SALE PRICE SF/SF YR BLT SALE DATE

5837 Village Dr #5 Playa Vista 90094 2 2 1,816 $1,825,000 $1,005 2017 09/11/17

4176 Higuera St Culver City 90232 3 3 1,246 $1,216,000 $976 1983 11/27/17

4178 Higuera St Culver City 90232 3 3 1,272 $1,175,000 $924 1983 10/24/17

12725 Bluff Creek Dr #1 Playa Vista 90094 3 2 1,816 $1,660,000 $914 2017 09/11/17

9900 Culver Blvd #Phd Culver City 90232 2 2 1,680 $1,432,300 $853 2009 03/08/17

9900 Culver #Phe Culver City 90232 2 2 1,670 $1,410,000 $844 2009 07/19/17

3716 S Bentley Ave Los Angeles 90034 4 2 1,610 $1,350,000 $839 1947 01/05/17

12516 Osprey Ln #1 Playa Vista 90094 4 4 2,637 $2,149,000 $815 2014 10/31/17

4190 Duquesne Ave #1 Culver City 90232 1 1 808 $625,000 $774 1980 11/30/17

4040 Grand View #23 Los Angeles 90066 2 2 841 $626,000 $744 1961 06/21/17

11823 Avon Way #101 Los Angeles 90066 2 3 993 $720,000 $725 1991 10/13/17

4040 Grand View Blvd #56 Los Angeles 90066 2 2 841 $609,500 $725 1961 05/10/17

3920 Girard Ave Culver City 90232 2 2 1,085 $772,000 $712 1989 09/22/17

12776 W Aurora Pl #1 Playa Vista 90094 4 4 2,674 $1,898,000 $710 2016 02/10/17

11106 Culver #101 Culver City 90230 2 3 1,099 $780,000 $710 1981 01/24/18

11733 Avon Way #201 Los Angeles 90066 2 2 870 $615,000 $707 1987 07/03/17

3914 Girard Ave Culver City 90232 2 2 1,230 $865,000 $703 1989 07/19/17

4040 Grand View Blvd #83 Los Angeles 90066 2 2 841 $590,000 $702 1961 04/28/17

4361 Berryman Ave #20 Los Angeles 90066 1 1 483 $335,500 $695 1974 11/06/17

3722 Hughes Ave #7 Los Angeles 90034 2 3 994 $690,000 $694 1974 10/13/17

3836 Bentley Ave #4 Culver City 90232 2 2 1,251 $859,000 $687 1980 10/31/17

4040 Grand View #18 Los Angeles 90066 2 2 841 $575,000 $684 1961 01/24/17

11734 Avon Way #105 Los Angeles 90066 2 2 900 $606,000 $673 1988 09/19/17

4040 Grand View Blvd #90 Mar Vista 90066 2 2 841 $565,000 $672 1961 10/02/17

12016 Washington Pl #103 Los Angeles 90066 2 3 1,124 $749,000 $666 1987 06/30/17

4040 Grand View #13 Los Angeles 90066 2 2 841 $560,000 $666 1961 03/07/17

4150 Duquesne Ave #101 Culver City 90232 1 1 1,014 $675,000 $666 1980 04/07/17

3651 Jasmine Ave #106 Los Angeles 90034 2 2 890 $589,000 $662 1990 11/08/17

5951 Canterbury Dr #16 Culver City 90230 2 2 1,007 $665,000 $660 1966 12/04/17

3651 Jasmine Ave #109 Los Angeles 90034 1 1 715 $465,000 $650 1990 05/22/17 32 SELECT CONDOMINIUM SALES COMPARABLES CONT.

ADDRESS CITY ZIP BED BATH SF SALE PRICE SF/SF YR BLT SALE DATE

6312 Summertime Ln Culver City 90230 2 2 916 $595,000 $650 1973 12/29/17

5106 Summertime Ln Culver City 90230 2 2 916 $590,000 $644 1973 12/01/17

10212 Summertime Ln #212 Culver City 90230 1 1 730 $465,000 $637 1973 07/13/17

11930 Avon Way #206 Marina Del Rey 90066 2 2 939 $598,000 $637 1986 11/09/17

5646 Canterbury Dr Culver City 90230 2 3 1,178 $750,000 $637 1984 07/19/17

12016 Washington Pl #313 Los Angeles 90066 2 2 1,181 $750,000 $635 1987 01/17/17

4900 Overland Ave #358 Culver City 90230 2 2 920 $578,000 $628 1973 07/13/17

6307 Summertime Ln Culver City 90230 2 1 823 $516,000 $627 1973 01/25/18

5215 Sepulveda #10B Culver City 90230 2 3 1,254 $785,000 $626 1964 10/25/17

3720 Hughes Ave #6 Los Angeles 90034 2 3 1,202 $751,000 $625 1981 06/15/17

8205 Summertime Ln Culver City 90230 1 1 674 $420,000 $623 1973 12/28/17

9308 Summertime Ln Culver City 90230 2 2 915 $570,000 $623 1973 05/18/17

5104 Maytime Ln Culver City 90230 2 2 1,222 $760,000 $622 1973 09/01/17

11930 Avon Way Way #107 Los Angeles 90066 2 2 965 $600,000 $622 1986 08/09/17

4361 Berryman Ave #19 Mar Vista 90066 1 1 555 $345,000 $622 1974 10/31/17

3645 Westwood #106 Los Angeles 90034 1 1 696 $430,000 $618 1978 12/06/17

4115 Duquesne Ave #1 Culver City 90232 1 1 1,005 $620,000 $617 1980 04/07/17

4900 Overland Ave #287 Culver City 90230 2 1 864 $533,000 $617 1973 06/28/17

4842 Hollow Corner Rd #405 Culver City 90230 3 2 1,055 $650,710 $617 1973 08/01/17

4611 Maytime Ln Culver City 90230 3 2 1,276 $785,000 $615 1975 10/03/17

3675 Keystone Ave #5 Los Angeles 90034 2 3 1,212 $745,000 $615 1983 08/16/17

4190 Duquesne Ave #1 Culver City 90232 1 1 808 $495,000 $613 1980 05/15/17

4073 Lincoln Ave #3 Culver City 90232 2 3 1,610 $985,000 $612 2007 01/03/17

1106 Summertime Ln Culver City 90230 2 2 916 $560,000 $611 1973 07/12/17

2111 Summertime Ln Culver City 90230 1 1 730 $446,000 $611 1973 11/07/17

9310 Summertime Ln Culver City 90230 2 2 915 $559,000 $611 1973 12/12/17

5005 Stoney Creek Rd #440 Culver City 90230 2 2 885 $540,000 $610 1973 07/13/17

8209 Raintree Cir #209 Culver City 90230 1 1 739 $450,000 $609 1972 05/25/17

11106 Culver #104 Culver City 90230 2 3 1,326 $805,000 $607 1981 05/09/17

4190 Marcasel Ave #1 Los Angeles 90066 2 3 1,284 $775,000 $604 1987 07/31/17

4350 Berryman Ave #9 Los Angeles 90066 1 1 665 $400,000 $602 1976 09/01/17

5951 Canterbury Dr #2 Culver City 90230 2 2 1,001 $602,000 $601 1966 08/10/17

10105 Summertime Ln Culver City 90230 1 1 730 $439,000 $601 1973 09/07/17 33 DEVELOPMENT PIPELINE

Search Criteria: Mixed Used Construction Projects in Culver City, Mar Vista, Palms As of January 2018 Source: Axiometrics

PIPELINE COMPLETION PROJECT NAME ADDRESS ZIP CODE DEVELOPER UNITS STAGE DATE

10601 Washington Blvd Under 1 Cobalt 90232 Greystar 135 5/1/2018 Culver City, CA Construction

3838 Dunn Dr California Under 2 3838 90232 86 4/1/2018 Culver City, CA Landmark Group Construction

8824 National Blvd Lowe Enterprises Under 3 Ivy Station 90232 200 7/1/2019 Culver City, CA Real Estate Group Construction

HSH 6221 6221 Bristol Pkwy 4 90230 Management 762 Planning TBD Bristol Parkway Culver City, CA Group LLC

11924 11924 W Washington Blvd Under 5 90066 CityView 97 9/1/2019 Washington Blvd Los Angeles, CA Construction

3644-3658 S Overland Ave Anejo Under 6 The Roy 90034 92 5/1/2018 Los Angeles, CA Development Construction

3321 S La Cienega Blvd 7 Cumulus 90016 Carmel Partners 1218 Planning TBD Los Angeles, CA

34 AFFILIATED BUSINESS DISCLOSURE CBRE, Inc. operates within a global family of companies with many subsidiaries and/or related entities (each an “Affiliate”) engaging in a broad range of commercial real estate businesses including, but not limited to, brokerage services, property and facilities management, valuation, investment fund management and development. At times different Affiliates may represent various clients with competing interests in the same transaction. For example, this Memorandum may be received by our Affiliates, including CBRE Investors, Inc. or Trammell Crow Company. Those, or other, Affiliates may express an interest in the property described in this Memorandum (the “Property”) may submit an offer to purchase the Property and may be the successful bidder for the Property. You hereby acknowledge that possibility and agree that neither CBRE, Inc. nor any involved Affiliate will have any obligation to disclose to you the involvement of any Affiliate in the sale or purchase of the Property. In all instances, however, CBRE, Inc. will act in the best interest of the client(s) it represents in the transaction described in this Memorandum and will not act in concert with or otherwise conduct its business in a way that benefits any Affiliate to the detriment of any other offeror or prospective offeror, but rather will conduct its business in a manner consistent with the law and any fiduciary duties owed to the client(s) it represents in the transaction described in this Memorandum.

CONFIDENTIALITY AGREEMENT This is a confidential Memorandum intended solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property. This Memorandum contains selected information pertaining to the Property and does not purport to be a representation of the state of affairs of the Property or the owner of the Property (the “Owner”), to be all-inclusive or to contain all or part of the information which prospective investors may require to evaluate a purchase of real property. All financial projections and information are provided for general reference purposes only and are based on assumptions relating to the general economy, market conditions, competition and other factors beyond the control of the Owner, CBRE, Inc., and LAPMG. Therefore, all projections, assumptions and other information provided and made herein are subject to material variation. All references to acreages, square footages, and other measurements are approximations. Additional information and an opportunity to inspect the Property will be made available to interested and qualified prospective purchasers. In this Memorandum, certain documents, including leases and other materials, are described in summary form. These summaries do not purport to be complete nor necessarily accurate descriptions of the full agreements referenced. Interested parties are expected to review all such summaries and other documents of whatever nature independently and not rely on the contents of this Memorandum in any manner. Neither the Owner, CBRE, Inc., or LAPMG nor any of their respective directors, officers, Affiliates or representatives make any representation or warranty, expressed or implied, as to the accuracy or completeness of this Memorandum or any of its contents, and no legal commitment or obligation shall arise by reason of your receipt of this Memorandum or use of its contents; and you are to rely solely on your investigations and inspections of the Property in evaluating a possible purchase of the real property. The Owner expressly reserved the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions with any entity at any time with or without notice which may arise as a result of review of this Memorandum. The Owner shall have no legal commitment or obligation to any entity reviewing this Memorandum or making an offer to purchase the Property unless and until written agreement(s) for the purchase of the Property have been fully executed, delivered and approved by the Owner and any conditions to the Owner’s obligations therein have been satisfied or waived. By receipt of this Memorandum, you agree that this Memorandum and its contents are of a confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose this Memorandum or any of its contents to any other entity without the prior written authorization of the Owner. CBRE, Inc., or LAPMG. You also agree that you will not use this Memorandum or any of its contents in any manner detrimental to the interest of the Owner, CBRE, Inc., or LAPMG. If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return this Memorandum to CBRE, Inc. or LAPMG.

DISCLAIMER © 2018 CBRE, Inc. The information contained in this document has been obtained from sources believed reliable. While CBRE, Inc. and LAPMG do not doubt its accuracy, CBRE, Inc. and LAPMG have not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. 35 PACIFIC OCEAN MALIBU SANTA MONICA

MARINA DEL REY ±3 ACRE CULVER CITY MIXED-USE DEVELOPMENT SITE FOR: ±200 RESIDENTIAL UNITS, COMMERCIAL, & RETAIL

BALLONA CREEK BIKE PATH

LAURIE LUSTIG-BOWER DAVID CROWN Lic. 00979360 Lic. 01157354 +1 310 550 2556 +1 323 255 9400 x224 [email protected] [email protected]

KADIE PRESLEY WILSON KYLE CROWN SEPULVEDA BLVD Lic. 01476551 Lic. 01936385 +1 310 550 2575 +1 323 255 9400 x229 [email protected] [email protected]

JEFFERSON BLVD BENNETT ROBINSON Lic. 00984312 +1 818 907 4608 JEFFERSON TRIANGLE [email protected]

It has been brought to our attention that a brokerage firm has been disseminating misinformation. CBRE and LAPMG welcome direct contact from any prospective buyers regarding all questions, and are pleased to represent buyers directly. SAWTELLE BLVD

BIDS DUE: WEDNESDAY, APRIL 11, 2018 BY 5:00PM www.JeffersonTriangle.com