A 0.94 Acre Redevelopment Opportunity Located Within

8TH @ VERMONT

A 0.94 ACRE REDEVELOPMENT OPPORTUNITY TH LOCATED WITHIN A QUALIFIED OPPORTUNITY 8 @ ZONE IN KOREATOWN, LOS ANGELES, CA VERMONT OFFERING MEMORANDUM EXCLUSIVELY LISTED BY CHRIS TRESP DEAN ZANDER Senior Associate Executive Vice President +1 310 228 2122 +1 310 550 2599 Lic. 01846401 Lic. 00875853 [email protected] [email protected]

FINANCING

GREG GRANT Senior Vice President +1 310 363 4935 Lic. 01844513 [email protected]

EXECUTIVE 04 SUMMARY

MARKET 10 OVERVIEW

PROPERTY 24 DESCRIPTION TH 308FINANCIAL ANALYSIS @ MARKET 36VERMONTCOMPARABLES

www.8thAtVermont-CBRE.com EXECUTIVE SUMMARY

THE WILTERN | 1.4 mi. FROM SUBJECT 8TH @ VERMONT | OFFERING MEMORANDUM | CBRE | 5 entitlements provided by the TOC program make this an excellent this an excellent make program the TOC by entitlements provided investor/developer. the opportunistic for land play” “covered Red/ Metro blocks south of the Wilshire/Vermont two just Situated excellent offers superb location 8th @ Vermont’s Purple Line Station, without the use of a car; a rare the region throughout connectivity is the Property Score, Walk a 95 Angeles. Boasting privilege in Los and of restaurants an abundance to distance within a short walking over and popular hotels attractions, cultural stores, grocery nightlife, submarket. in the Mid-Wilshire space of office feet million square 7.2 undergoing is currently neighborhood Koreatown surrounding The in the in the area $1 Billion invested with over transformation a rapid decade. last www.8thAtVermont-CBRE.com THE OFFERING 8th @ Vermont is currently operating as a 65-unit apartment building, as a 65-unit apartment building, operating is currently 8th @ Vermont The bungalows. and bachelor units, and five of 60 studio comprised to and the clear path ratio land coverage low very current Property’s , as exclusive agent, is pleased to present the opportunity present is pleased to agent, CBRE, Inc., as exclusive and 3062 Leeward 8th Street, W. (2971 8th @ Vermont acquire to opportunity re-development acre a 0.94 the “Property”), Avenue, neighborhood, densely populated Angeles’ most in Los located R4, and qualification zoning, favorable Property’s The Koreatown. Program Incentive Communities Oriented under the Transit of the existing be built in place units to 174 up to for allows (TOC), the through be achieved density may Additional improvements. is also Property The parcels. of additional adjacent assemblage tax benefits offering Zone, Opportunity within a Qualified located a Qualified capital through who deploy and developers investors to Opportunity Fund. 8TH @ VERMONT | OFFERING MEMORANDUM | CBRE | 6 designated “OpportunityZone.” sale (including non-real estate assets) into a property in a taxes whenthey reinvest any portionofprofits from any asset allow investors the ability to defer and reduce capital gains established by 2017 Tax CutsandJobsAct. OpportunityZones designated QualifiedOpportunity Zone (QOZ), as recently gains taxbenefitsdue to theProperty’s location insideofa Investors willhave theopportunityto reap significantcapital OPPORTUNITY INVESTMENT ZONE OPPORTUNITY URBAN RARE, * Buyer to verify neighboring parcels. square footage may beachieved by assembling additional feet ofgross buildablearea.* Additional densityand building TOC-Tier III,allows for upto 174 unitsandupto 182,000 square Program (TOC). 8th@Vermont’s zoning designation, R4, Transit Oriented Communities Affordable HousingIncentive incentives andastreamlined entitlementprocess perthe entitlement phase. Developers willalsobenefitfrom additional benefiting from theProperty’s current cashflow duringthe to entitletheproperty to themaximum allowable density, while designation present theopportunityfor aninvestor/developer improvements, combined withtheProperty’s favorable zoning in itscurrent use. The low landcoverage oftheexisting 50% and extremely low FAR, the Property is underutilized At itscurrent building-to-land coverage ratio ofless than POTENTIAL DEVELOPMENT HIGHLIGHTS INVESTMENT BEVERLY HILLS Pearl onWilshire (346 Units) MIRACLE MILE + 20,000 SF Vermont & (195 Units James M. Planned) Wood Retail Wilshire/Western 3640 Wilshire Ave Luna onWilshire

(209 Units)

WEST 9 9 WEST WEST Neighborhood Market) (98 UnitsUnder

3100 W8thSt Construction)

TH TH STREET STREET (22,000 SF HANCOCK PARK VERMONT AVENUE WEST HOLLYWOOD Wilshire/Normandie (177 Units) Berkshire K2LA Radius Koreatown (301 Units) 3350 Wilshire Blvd Conversion Under (260 UnitOffice

Construction)

WEST 8 8 WEST WEST

LEEWARD AVE AVE LEEWARD LEEWARD

TH TH

STREET STREET + 148-key Hotel Planned) 3240 Wilshire (470 Units S WESTMORELAND AVE

The Vermont

(464 Units) HOLLYWOOD

WEST 7 7 WEST WEST Wilshire/Vermont

(172 UnitsProposed) TH TH

550 SVermont Ave

STREET STREET

WILSHIRE BLVD BLVD WILSHIRE WILSHIRE

6 6

TH TH

STREET STREET Under Construction) Nexen -(228Units 2972 W7thSt Vermont Corridor Project Under Construction) (468,000 SFOffice 2929 Leeward Ave (80 UnitsUnder Construction) 8TH @ VERMONT | OFFERING MEMORANDUM | CBRE | 7 Home to Southern California’s highest concentration of concentration highest Southern California’s Home to is a 24/7 Koreatown businesses, bars and restaurants, is the most within a city’, Koreatown neighborhood. A ‘city with County Angeles neighborhood in Los densely populated Koreatown miles. Also, per square residents nearly 50,000 years. recent in revitalization significant has experienced amenities, entertainment, retail to access outstanding With rich a culturally has become Koreatown venues, and cultural all over from visitors drawing destination, dining and nightlife Angeles County. Los TRANSIT-ORIENTED LOCATION situated and is ideally 95 of has a walkscore Property The Metro the Wilshire/Vermont to walk a six minute within just other two to proximate is and Station, Line Red/Purple and Wilshire/Western, Wilshire/Normandie at stations Metro and the LA, Hollywood, to Downtown access direct offering all of Los to connectivity with exceptional Valley San Fernando Metro The Rail and Bus System. via the Metro Angeles County which, when with the Purple Line Extension, directly connects multiple offering westward will extend in 2023, completed Hills, Beverly Mile, in Miracle Boulevard along Wilshire stops and Westwood. one Avenue, Vermont to proximity immediate Property’s The 3rd and the region’s arteries traveled Angeles’ highest of Los to access direct provides thoroughfares, north/south longest freeways, or I-10 via the 101 system Angeles Freeway the Los the miles from than two less located both of which are Property. MARKET URBAN GROWING RAPIDLY CENTRAL CENTERS EMPLOYMENT TO Angeles offers within Los location central 8th @ Vermont’s opportunities the employment to access immediate residents space A office of Class feet million square 7.2 in the reside that Additionally, submarket. Mid-Wilshire/Koreatown within the (2 Angeles Los in Downtown centers major employment Beverly (4 miles), Hollywood Mile (4 miles), Miracle miles), City (7 miles). and Century Hills (5 miles), Construction) (80 Units Under 2929 Leeward Ave Leeward 2929 (468,000 SF Office (468,000 Under Construction) Vermont Corridor Project Project Corridor Vermont 2972 W 7th St 2972 Nexen - (228 Units Nexen Under Construction) STREET

WILSHIRE BLVD

STREET

550 S Vermont Ave 550 S Vermont TH (172 Units Proposed) (172 Wilshire/Vermont

WEST 7 HOLLYWOOD (464 Units) The Vermont The

S WESTMORELAND AVE AVE WESTMORELAND WESTMORELAND S S (470 Units (470 3240 Wilshire 3240 + 148-key Hotel Planned) Hotel + 148-key STREET TH LEEWARD AVE

WEST 8 Construction) (260 Unit Office (260 Unit Office Conversion Under Conversion 3350 Wilshire Blvd Wilshire 3350 (301 Units) (301 Radius Koreatown K2LA Berkshire (177 Units) Wilshire/Normandie

WEST HOLLYWOOD WEST

VERMONT AVENUE AVENUE VERMONT VERMONT HANCOCK PARK HANCOCK (22,000 SF (22,000 TH STREET Construction) 3100 W 8th St (98 Units Under Neighborhood Market) WEST 9 (209 Units) Luna on Wilshire 3640 Wilshire Ave 3640 Wilshire Wilshire/Western Retail Retail Wood Planned) James M. (195 Units (195 Vermont & Vermont + 20,000 SF + 20,000 MIRACLE MILE MIRACLE (346 Units) Pearl on Wilshire Pearl BEVERLY HILLS BEVERLY 8TH @ VERMONT | OFFERING MEMORANDUM | CBRE | 8 Los AngelesCityCollege. from theProperty andalsosituated just off Vermont Ave is from Vermont Avenue. Two miles in the opposite direction California isjust 2.5milesto thesouthandiseasilyaccessible minute walk from theProperty. The University ofSouthern about 1,000 students, ishousedintwo buildingsjust afive Southwestern Law Schoolcampus,aprivate law schoolwith having just ashortcommute to well regarded schools.The of livingwithinthewalkable Koreatown neighborhoodand institutions ofhighereducation give students theoptionality 8th @Vermont’s proximity to several notablecolleges and ACCESS EDUCATION TO HIGHER is forecast to grow 3.8/3.7% over theensuingfive years. within one/three milesoftheProperty is137,914/629,865 and by 4.1% (September 2019 Y-O-Y) perAxiometrics.Population remain below 5%through 2022. Effective rents have alsogrown average at 3.93% for thepast five years. Vacancy is forecast to where vacancy rates have remained extremely low, holdingon 8th @Vermont is located within the Wilshire District submarket DEMAND RENTER STRONG UNIVERSITY OF SOUTHERNUNIVERSITY CALIFORNIA | mi 2.6 . FROM SUBJECT 8TH @ VERMONT | OFFERING MEMORANDUM | CBRE | 9 65 1950 ±402 ±26,106 0.94 Acres 0.94 UNPRICED Los Angeles, CA 90005 Angeles, CA Los 69.15 Dwelling Units Per Acre Units Per Dwelling 69.15 2971 W. 8th Street, and 3062 Leeward 8th Street, 2971 W.

www.8thAtVermont-CBRE.com Property Address: Units: Existing Number of Built: Year Size: Parcel Offering Price: Offering Square Ft: Net Rentable Square Ft: Average Density: OFFERING SUMMARY All property tours must be coordinated through the listing team. team. the listing through be coordinated must tours All property visit the subject property to encouraged are Purchasers Prospective contact the on-site do not Please submitting offers. prior to without prior approval. management or staff INTEREST OFFERED a 65–unit apartment in 8th @ Vermont, simple interest fee 100–percent in Avenue and 3062 Leeward 8th Street, W. 2971 at located community Angeles, CA. the city of Los SALE THE OF TERMS and Clear. Free Offered PROPERTY TOURS 8TH @ VERMONT | OFFERING MEMORANDUM | CBRE | 10 THE VENUE | 0.9 mi |0.9 VENUE THE . FROM SUBJECT OVERVIEW MARKET

8TH @ VERMONT | OFFERING MEMORANDUM | CBRE | 11 Retail Retail Wood Planned) James M. (195 Units (195 Vermont & Vermont + 20,000 SF + 20,000 Bakery Bakery ST El Quetzal El Quetzal

SanSan SooSoo

(22,000 SF (22,000

DangDang

NEW HAMPSHIRE AVE AVE HAMPSHIRE HAMPSHIRE NEW NEW Neighborhood Market) Thai Thai

Ocean Ocean

VERMONT AVENUE VERMONT OLYMPIC BLVD AVENUE VERMONT

JAMES M. WOOD BLVD/9 ST TH LEEWARD AVE

WEST 8 Construction) (50 Units Under Ave Francis 2783 2972 W 7th St 2972 Nexen - (228 Units Nexen Under Construction) Construction) (80 Units Under 2929 Leeward Ave Leeward 2929

TH ST TO METRO TO

DOWNTOWN LOS ANGELES LOS DOWNTOWN WEST 7 6 MIN WALK MIN 6 7th & Hoover (37.4 Million SF Office +500,000 Jobs) +500,000 Office SF Million (37.4 (165 Units Planned) Construction) (152 Units Under Units (152 2525 Wilshire Blvd Wilshire 2525 The Kodo The (60 Units) (464 Units) The Vermont The

Construction) WILSHIRE BLVD WILSHIRE (644 Units Under BLVD WILSHIRE ) 2900 Wilshire Blvd 2900 Wilshire

TH (190 Units) 3033 Wilshire Wilshire 3033 Wilshire/Vermont (393 Units +(393 Next on 6 Next 22,000 SF 22,000 Wilshire Wilshire (449 Units) (449 Vermont Station Vermont 8TH @ VERMONT | OFFERING MEMORANDUM | CBRE | 12 DEVELOPMENT ORIENTED TRANSIT via theMetro RailandBusSystem. with exceptional connectivity to allofLos AngelesCounty to Downtown LA,Hollywood, andtheSanFernando Valley Normandie andWilshire/Western, offering direct access and isproximate to two otherMetro stations at Wilshire/ to theWilshire/Vermont Metro Red/Purple LineStation, The Property is ideally situated within just a six minute walk and Westwood. Wilshire Boulevard inMiracle Mile, Beverly Hills, extend westward offering multiple stops along Extension, which, when completed in2023, will The Metro connects directly Line withthePurple EXTENSION PURPLE LINE Metro Rail&Busway Sherman Way Sherman Amtrak & Metrolink & Amtrak Chatsworth Warner Ctr Warner Warner Ctr Warner PACIFIC OCEAN PACIFIC Nordhoff Roscoe Roscoe METRO RAIL&BUSWAY Offering Memorandum Downtown Santa Monica

Canoga 17th St/SMC

De Soto 26th St/Bergamot WESTSIDE

Pierce College Westwood/VA Hospital Expo/Bundy

Tampa

Expo/Sepulveda SAN FERNANDO VALLEY Westwood/UCLA Reseda Westwood/Rancho Park

Balboa Century City/Constellation Palms

Woodley Culver City LAX Westchester/Veterans Martin Luther King Jr King Luther Martin

Downtown Inglewood Downtown Wilshire/Rodeo PURPLE LINEPURPLE EXTENSION Sepulveda La Cienega/Jefferson Aviation/Century Fairview Heights Fairview Redondo Beach Redondo

Leimert Park Leimert Van Nuys Aviation/96th Wilshire/La Cienega Los Angeles River Expo/La Brea Hyde Park Hyde El Segundo El Mariposa

Douglas Woodman Farmdale Wilshire/Fairfax Valley College Expo/Crenshaw TRANSIT PROJECT TRANSIT CRENSHAW/LAX CENTRAL LA CENTRAL Aviation/LAX LA CENTRAL Laurel Canyon SOUTH BAY SOUTH SOUTH BAY SOUTH Wilshire/La Brea Expo/Western

LAX Shuttle G

Hawthorne/Lennox Expo/Vermont Wilshire/Western North Hollywood SOUTH LA SOUTH SOUTH LA SOUTH

Crenshaw Expo Universal City/Studio City

Jefferson/USC 8 Park/USC VERMONT LATTC/Ortho San Pedro San Wilshire/ Vermont/ Hollywood/Highland 7th St/Metro Ctr St/Metro 7th Institute

Normandie TH Athens Hollywood/Vine

Long Beach Long Long Beach Long

Hollywood/Western @ Manchester Slauson Hwy Coast Pacific Carson Transit Ctr Gateway Harbor Rosecrans USC 37th St/ Downtown Downtown Harbor Fwy Pico Vermont/BeverlyVermont/SantaVermont/Sunset Monica Wilshire/Vermont Pacific Pacific LA DOWNTOWN Avalon LA DOWNTOWN Westlake/MacArthur Park Av Av Grand REGIONAL CONNECTOR TRANSIT PROJECT / San Pedro St LATTC Pershing Square Washington Watts TowersWatts Artesia Del Amo Del Parks Rosa Willowbrook/ 1st St 1st St 5th Parks Rosa Willowbrook/ TowersWatts St/ 103rd Anaheim St Anaheim Pacific Hwy Coast St Willow Wardlow Amo Del Artesia Compton St/ 103rd Firestone Florence Slauson Vernon 2nd St/Hope

1st/Central Broadway Broadway St/ 2nd Civic Ctr/CivicCtr/ Ctr/Civic Ctr/

GATEWAY CITIES Grand Grand Grand

Long Beach Bl ParkParkParkPark

Los Angeles River Pico/Aliso Little Tokyo/ArtsLittle Dist Chinatown Union Station Union Chinatown Lincoln/Cypress Sq Heritage Museum Southwest Park Highland Pasadena South Fillmore Mar Del Park Memorial Mariachi Plaza Amtrak & Metrolink & Amtrak Lakewood Bl FlyAway LAX Lake

Allen Norwalk

Soto Sierra Madre Villa EASTSIDE EASTSIDE LAC+USC Medical Ctr Indiana SAN GABRIEL VALLEY SAN GABRIEL VALLEY Arcadia Maravilla East LA Civic Ctr Cal State LA Monrovia

Metrolink

JUL 2016 Duarte/City of Hope Rail Station Rail East Los Angeles to Azusa Angeles Los East MAY 2016 MAY lawa.org Pedroand San in LA Downtown Street Service LAX Shuttle (free)LAX lawa.org/flyaway FlyAway LAX metrolinktrains.com Metrolink amtrak.com Amtrak PedroSan to El Monte Silver Line Hollywood to North Chatsworth Line Orange Gold Line Norwalk to Beach Redondo Line Green Monica Santa to LA Downtown LineExpo to Beach Long LA Downtown Line Blue Station Union to Wilshire/Western Line Purple Station Union to Hollywood North Red Line Service StreetBusway El Monte Atlantic Transfer Station Airport Shuttle Airport Rail Metro Regional Rail Regional Busway Metro Irwindale

Subject to Change Azusa Downtown metro.net Subject to Change to Subject

CONSTRUCTION UNDER APU/Citrus College

Busway

Station 16-1819MM ©2016 LACMTA The Property just a situatedwithin six minute isideally TRANSIT-ORIENTED LOCATION 8thStreetisthebusiestintersectionlocatedwithinaquartermileradius. Withanaveragedailytrafficcountof42,003,theintersectionVermontandWest walk to the Wilshire/Vermont tothe walk Metro RedLineStation, and isproximate Metro totwoother at Wilshire/ stations Normandie and Normandie Wilshire/Western, offering direct access to Downtown LA, and San Hollywood, the Fernando Valley with exceptional connectivity to all of Los Angeles County ofLosAngelesCounty toall connectivity exceptional with via the Metro Rail and Bus System. The Property’s immediate proximity to Vermont Avenue, one of Los Angeles’ highest highest Angeles’ Los of Vermontone Avenue,to proximity traveled arteries and the region’s 3rd longest north/south north/south longest region’s3rd the and arteries traveled thoroughfares, provides direct LosAngeles accesstothe Freeway 101orI-10freeways, system viathe ofwhich both are twomilesfrom located less than Property. the Source: ©2016 E Ka ©2016 sri

libra

e Te te chnologies

Traf Rings: 1,3,5mi Ve S rmon fic C t Ave &W8thSt,LosAngeles,California,90005 ount Map le ra dii - CloseUp Longitude: Latitude: 34.05776 February 23,2017 Prepared by Esri -118.29165 Page 1 of 1 7 8TH @ VERMONT | OFFERING MEMORANDUM | CBRE | 13 TO DTLA:TO 10 MINS 15 MINS HOLLYWOOD: TO 40 MINS PASADENA: TO UNIVERSAL/STUDIO MINS 17 CITY: TO METRO TIME TRAVEL 6 in centers employment (5miles),andCenturyCity (7miles). (4miles),BeverlyHills Downtown Los Angeles(2miles),MiracleMile (4miles),Hollywood major Additionally submarket. Mid-Wilshire/Koreatown the within space office A Class of feet square million 7.5 the in reside that opportunities employment the to access immediate residents offers Angeles Vermont’sLos @ within 8th location central CENTRAL TOEMPLOYMENTCENTERS 405 10

8TH @ VERMONT | OFFERING MEMORANDUM | CBRE | 14 101 Westwood Metro ExpoLine Metro PurpleLine Metro GreenLine Metro OrangeLine Metro RedLine Metro GoldLine Metro BlueLine 6.0 MSF Office Century City 405 10.8 MSF

Office 8 Mi les Sherman Oaks Studio City/ Beverly Hills 3.0 MSF Office 6.2 MSF Office 170 North Hollywood 6 Mi les West Hollywood 2.3 MSF Office .64 MSF Office Miracle Mile 4.7 MSF Office

4 Mi les 10 101 Hollywood 134 2.8 MSF Office

2 M i le s 5 Mid-Wilshire 7.5 MSF Office Media District Burbank 7.5 MSF Office 110 5 110 Glendale 5.8 MSF Office 101 Los Angeles Downtown 37.4 MSF Office 2 10 2 134 5 , ANewmarkCompany 110 8TH @ VERMONT | OFFERING MEMORANDUM | CBRE | 15 +49,000 JOBS +315,000 JOBS TRI-CITIES CULVER CITY +19,000 JOBS +19,000 +60,000 JOBS HOLLYWOOD MIRACLE MILE MIRACLE

CENTRAL CENTERS TO EMPLOYMENT

+43,000 JOBS

+500,000 JOBS +500,000

8th @ Vermont’s central location within Los Angeles offers residents immediate access to the employment opportunities that reside in the that opportunities to the employment access residents immediate offers Angeles within Los location central 8th @ Vermont’s submarket. Mid-Wilshire/Koreatown within the space A office of Class feet square million 7.5

DOWNTOWN LA W. HOLLYWOOD W.

110 , A Newmark Company 5 134 2 10 2 Office 37.4 MSF Downtown Los Angeles 101 Office 5.8 MSF Glendale 110 5 110 Office 7.5 MSF Burbank Media District Media Office 7.5 MSF Mid-Wilshire

l i

Office 2.8 MSF 134 Hollywood 101

4 Office 4.7 MSF Miracle Mile Office .64 MSF Office 2.3 MSF

West Hollywood West

North Hollywood North 170 Office 6.2 MSF Office 3.0 MSF Beverly Hills Studio City/

Sherman Oaks Sherman

Office 10.8 MSF 405 Century City Office 6.0 MSF Metro Blue Line Blue Metro Line Gold Metro Red Line Metro Orange Line Metro Green Line Metro Line Metro Purple Line Metro Expo Westwood 101 10 405 8th @ Vermont’s central location 8th within @ Los Vermont’s Angeles offers residents immediate access to the employment opportunities that reside in the 7.5 million square feet of Class A office space within the Mid-Wilshire/Koreatownsubmarket. Additionally major Mile (4 miles), HollywoodDowntown Los Angeles (2 miles), Miracle (4 miles), Beverly Hills (5 miles), and Century City (7 miles). employment centersin 6 CENTRAL TO EMPLOYMENT CENTERS EMPLOYMENT TO CENTRAL 8TH @ VERMONT | OFFERING MEMORANDUM | CBRE | 16 area. hip tenants are renting relatively affordable apartmentsinthe have become increasingly popular, andmore andmore young, the works now. Korean barbecue, Korean spas and Korean bars in bigticket new development, projects in withmore than 50 Over thepast 10years, Koreatown hasexperienced anexplosion restaurants inthecountry. concentration ofnightclubs and24-hour businesses and diversity. K-town isalsoknown for having oneofthelargest Latino populations contribute to Koreatown’s richcultural Cocoanut Grove andtheBrown Derby. Today, Korean and Golden Age Hollywood, hometo theAmbassador Hotel, the roughly 3 square miles, the area was once the epicenter of populated neighborhoods in Los Angeles. Encompassing is one of the most diverse and most densely Koreatown Located west of Downtown L.A.andsouthofHollywood, CORE” URBAN TRANSFORMING, RAPIDLY A “KOREATOWN: THE LINE | 0.8 mi |0.8 LINE THE . FROM SUBJECT WALKSCORE POP. DENSITY 42,611/ POPULATION 126,917 ALCHEMIST COFFEE PROJECT | 0.1 mi |0.1 PROJECT COFFEE ALCHEMIST 95 QUARTERS | 0.8 mi |0.8 QUARTERS mi. . FROM SUBJECT . FROM SUBJECT INVESTED ININVESTED THE AREA BILLION +$1 JOBS +54,000 8TH @ VERMONT | OFFERING MEMORANDUM | CBRE | 17

372505 6th St Ave Union

8th St

Park CVS MacArthur

Rite Aid Walgreens Silver Platter Dan Sung Sa Restaurant Beer Belly BiergartenLA Break Room 86 Café Bleu Café Brass Monkey Gaam Lock & Key Shatto 39 Lanes Southland Beer The Wiltern Normandie Club HMS Bounty Paper Tiger Shrine Best Western Ramada New Seoul Hotel East West Hotel Palga Grand Hotel Hometel Suites The LINE Los Angeles

1-2 St Alvarado 1 2 3 4 5 6 7 8 9 4 5 6 7 1 2 3 3 4

10 11 12 13 14 15 16 Pharmacy Nightlife Hotel Rampart Blvd Rampart 2 76 1

Hoover St Hoover Park 43

44 Lafayette 4

YMCA Starbucks The Coffee Bean and Tea Leaf

2 Virgil Ave Virgil 16 24 Hour Fitness CrossFit My Gym Children's YogaWorks Caffe Bene Alchemist Coffee Project Bumsan Milk Bar Gong Cha Alfred Spot Coffee City Center on 6th Koreatown Galleria Koreatown Plaza Mandang Plaza Shopping Mall Vermont Galleria 4-5 1-7 3 1 2 3 6 4 5 1 2 3 8-12 13 14 15 16 17 18 Fitness Coffee Shopping Center

Shatto Center 72

63 Recreation 5 3 75 3 58 62 42 22 11 1 10

5 3 101 7 8 5

2 2 46 70 14 69 Vermont Ave Vermont 53 1 4 9 51 23 45 60 41 40 24 3 47 39 73 61 1 4 38 49 52 13 2 37 3 18 9 6 5 8 14 57 36 35 64 6 2 6 6 66 4 7 48 74 1 6

7 16 21

3rd St 3rd

Normandie Ave Normandie

Normandie Ave Normandie 7 St Irolo 13 19 17 17 59

4 Park 5 15 67

18 Ardmore

5 Payground 55 9 6 20

4 Olympic Blvd Olympic

7 Beverly Blvd Beverly 34 1 1 33 2 6

1 Pico Blvd Pico 13 3 5 11 10 2 3

2 5 4 4 11 12 50

71 8 1 68 15 16 15 31 32 Western Ave Western 5 3 9 1 1 29 56 30 28 12 14 10 4 54 27 2

8 3 Wilton Pl Wilton Ralphs Paris Baguette USA Paris Baguette USA Dolly LLama Milk Tavern Edible Arrangements Honeymee Smart and Final Zion Market Kang Ho-Dong Baekjeong Seafood City Supermarket Vons Jons Marketplace California Market

2-3 1 2 3 4 5 6 7 8 9 1 4 5 6 Dessert Grocery/Market Ave Arlington Wilshire Blvd KOREATOWN AMENITIES KOREATOWN 26 25 Dumpling House Beverly Soon Tofu Park's Barbeque Kobawoo House Olympic Cheonggukjang Eighth Street Soondae Thai Ocean El Quetzal Bakery San Soo dang 85 Degrees C Bakery Cafe Baskin Robbins Denny's Denny's Caffebene Chipotle Chosun Galbee COMMISSARY at LINE LA El Cholo Escala Fatburger Guelaguetza Hodori It's Boba Time Jimmy John's Moodaepo II O Dae San Korean BBQ OB Bear Quarters Korean BBQ R Bar Road to Seoul Simply Pho You Soowon Galbi Ssam Korean BBQ Subway Taco Bell The Boiling Crab Yogurtland Chuck E. Cheese's 74 75 76 65 66 67 68 69 70 71 72 73 57 58 59 60 61 62 63 64 48 49 50 51 52 53 54 55 56 40 41 42 43 44 45 46 47 39 IHOP Buffalo Wild Wings The Prince Guisado's Berlins Terra Cota The Carving Board Burgerim Hae Ha Heng Thai Bistro Tous Les Jours Sumo Dog UbaTuba Here's Looking At You Mama Lion Openaire EMC Cassell's Le Comptior Yupdduk BCD Tofu House Louisiana Fried Chicken WOK BAR (hotpot) J BBQ Stone Grill BBQ Sun Ha Jang Soban Mapo Galbi Han Bat Shul Lung Tang Ma Dang Gook Soo Master Ha Korean Jae Bu Do Jun Won Zzamong Yuchun Hangari Kalguksu Sun Nong Dan Seong Buk Dong DGM - DwitGolMok Jamba Juice Robeks Payless Ross Stores Staples Target WSS Big 5 8 9 4 5 6 7 1 2 3 2 6 2 3 4 5 1 1 38 34 35 36 37 29 30 31 32 33 25 26 27 28 21 22 23 24 17 18 19 20 13 14 15 16 10 11 12 Restaurant N Juice Bar Retail 8TH @ VERMONT | OFFERING MEMORANDUM | CBRE | 18 8 6 4 9 7 5 3 2 1 NOTABLE DEVELOPMENTS PLANNED 1074 SVermont Ave St W6th 3751 Ave SWestern 800 Temple expansion Boulevard Wilshire St W6th 3800 Vermont Ave 631 Museum National American Korean Project Galleria Wilshire Project Vermont Corridor Name 90006 CA Angeles, Los 1074 SVermont Ave 90020 CA Angeles, Los St W6th 3751 90005 CA Angeles, Los Ave SWestern 800 90010 CA Angeles, Los Blvd Wilshire 3663 90020 CA Angeles, Los St W6th 3800 90005 CA Angeles, Los SVermont Ave 631 90005 CA Angeles, Los SVermont Ave 605 90010 CA Angeles, Los Blvd Wilshire 3240 90020 CA Angeles, Los SVermont Ave 532 Address 0.6 miles 0.6 miles 1.2 miles 1.1 miles 1.0 miles 1.2 miles 0.3 miles 0.4 miles 0.3 miles 0.5 From Subject Distance and an underground parking lot. parking underground an and space, retail of SF 53,000 condos, 228 to include complex use Mixed space. commercial of SF 18,000 and apartments, 44 hotel rooms, 200 with office post old an replace would project use mixed This development. new in the preserved be will site project at the now building commercial and garage parking Deco-style Art An restaurants). six (including space commercial of SF 58,000 and apartments, 96 rooms, hotel 148 Studio-MLA. firm local by landscaping and rooms, meeting ballroom, a set to include is project The OMA. firm, Koolhaas’s Rem by designed be will space event new Temple. The Boulevard toWilshire the door next be will Project levels. two bottom the on space commercial of SF 15,200 and condos 122 rooms, hotel 192 includes which development A 20-story space. restaurant and of retail SF 28,490 and space, office of SF 49,227 condos, 250 rooms, hotel 200 includes which building a33-story with aDenny’s currently is what replace will project this Museum, National Korean to American the next Located 2020. in open to slated housing, of units 103 will include year.per $1 Project for nonprofit the to property the lease to agreed officials City Vermont. and Sixth on lot parking acity-owned currently what’s occupy will Museum National Korean American The hotel. +148-key 470 units include will Project structure. condo seven-story a and tower 35-story a with building old the flank would Group Development Harridge from project this Galleria, Wilshire historic the around Planned Trammell and Crow Company. county the between apartnership through redeveloped being arecenter. sites The community a and space, retail offices, government housing, of amix to include Project land. county-owned on rising buildings of A cluster Description 8TH @ VERMONT | OFFERING MEMORANDUM | CBRE | 19 11 1 3 4 2 10 80 hotel rooms, eightresidential units square and feet 7,181 of commercial space. Haddadi. David developer by filed Plans Description Six-story Hampton Inn will offer 171 guest rooms and a two-level parking structure. Six-story hotel will offer 99 guest rooms above a parking structure. This project will replace a cluster of older bungalows with a 99 room hotel. It will include parking for 63 vehicles. 8 0.5 miles Distance SubjectFrom 1.4 miles 0.6 miles 0.6 miles 5 13 6 3216 W 8th St Los Angeles, CA 90005 Address 4110 W 3rd St Los Angeles, CA 90020 2999 W 6th St Los Angeles, CA 90020 966 Dewey Ave Los Angeles, CA 90006 7 12 3216 W 8th St Name Hampton Inn Grand Spa Hotel 99-room hotel 9 NOTABLE PLANNED DEVELOPMENTS NOTABLE Source: Curbed Los Angeles 11 12 13 10 8TH @ VERMONT | OFFERING MEMORANDUM | CBRE | 20 (CLASS A) (CLASS AVG 2019 OCT OCCUPANCY 97.0% A) (CLASS AVG 2019 OCT RENT (+100 UNIT PROPERTIES) AVG BUILT YEAR 1992 (+100 UNIT PROPERTIES) TOTAL PROPERTIES 13 (+100 UNIT PROPERTIES) UNITS TOTAL 2,846 $2,910 MULTIFAMILY OVERVIEW KOREATOWN THE PEARL ON WILSHIRE | 2018 BUILT |2018 WILSHIRE ON PEARL THE NEXT ON 6TH | 2017 BUILT |2017 6TH ON NEXT 8TH @ VERMONT | OFFERING MEMORANDUM | CBRE | 21 TOTAL 50 61 62 67 70 98 103 104 122 152 160 200 216 224 228 88 121 123 131 202 644 50 50 50 PLANNED / PROSPECTIVE 50 50 50

2021 UNITS 88 121 123 131 202 644

UNITS 50 61 62 67 70 98 103 104 122 152 160 200 216 224 228 2020 Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown SUBMARKET SUBMARKET 90005 90020 90026 90006 90006 90005 90010 90006 90005 90057 90005 90026 90010 90020 90010 90004 90004 90005 90005 90010 90010 90006 90005 90005 ZIP 259 S Mariposa Ave 2783–2801 Francis Ave. 400-416 S. Catalina St. Blvd Glendale 1750 2800 Olympic W. Blvd. 1019 South Catalina Street 3100 8th West Street Wilshire Blvd. 3921 Avenue Serrano South 1011 685 South Catalina Street Wilshire Blvd 2525 700 S Manhattan Pl 330 N Westlake Ave Wilshire Blvd 3350 Ave Normandie 411 Wilshire Blvd 3980 525 North Wilton Pl 678 South Ardmore Avenue 826 South Harvard Blvd Wilshire Blvd. 3345 2908 Wilshire Blvd Avenue Kenmore 966 South 707 South Berendo Street Avenue Normandie 738 ADDRESS APARTMENT PIPELINE APARTMENT KOREATOWN MARKET RATE DPK Group DPK Investments Abolhassan Arefi Properties Aragon Pak Man Hyoung M. Hyoung Pak, Properties Jamison Properties Jamison Brothers Zackary Properties Jamison Group Somerset The Properties Jamison Crow Trammell Residential Properties Jamison Services, Jamison Inc Services Jamison Inc Chaddock Frost Developers Properties Jamison Properties Jamison Properties Jamison Properties Jamison Properties Jamison Farshad Moftakhar, Properties Jamison OWNER/DEVELOPER OWNER/DEVELOPER Under Construction / Planned / Prospective as of September 2019/50 Units + Units 2019/50 September of as / Prospective / Planned Construction Under 2783Francis 400 Catalina Glendale Boulevard 1750 Olympic 2800 Manor Manhee Street Berendo Wilshire 3921 Avenue Serrano South Catalina Street Wilco Apartments Audrey Alexan Bahay Wilshire 3350 4+N Lofts Wilshire Boulevard 3980 Place Wilton North 525 Mariposa on 3rd 678 South Ardmore Avenue 8th Street and Harvard Blvd Thompson The 2900 Wilshire Avenue Kenmore 966 South 707 South Berendo Street Avenue Normandie 738 NAME 8TH @ VERMONT | OFFERING MEMORANDUM | CBRE | 22 KOREATOWN MARKET RATE APARTMENT PIPELINE (continued) NAME NAME 2870 West Olympic Blvd Blvd West Olympic 2870 Korean American Museum II Fedora The Heights The East Heights Avenue Oxford South 737 815 Kingsley Berendo Apartments Alexandria 350 2859 Francis &Irolo 7th 616 Westmoreland 923 Kenmore Street Berendo South 950 Berendo Western 401 926 Kingsley Avenue Dewey 1045 Drive Kingsley 748 South Palace Andrews St. Catalina 689 860 Normandie Ave Serrano South 1120 985 3rd 6th 4000 Street Fedora 968 OWNER/DEVELOPER Garrison, Milan Garrison, Milan Jamison Properties Strategies CGI Hugh Tangye Corp Development Bastion Chang, In Sook Saman Kerendian Investment GIC Saman Kerendian P&N Inc. Builders Archeon Development Vukota Capital/ Mgmt Asset Harvest Domus Development Miran Byun, Mgmt Dream Realty Asset Ennable Properties Inc. Group Investment Havard YM Homes Sabetfard, Edward Ha Seoup Bang Jamison Properties Ben Mehdizadeh Abolhassan Arefi, Developments Meridian Keum Whang Jamison Properties ADDRESS ADDRESS 2870 West Olympic Blvd Blvd West Olympic 2870 Ave. Vermont S. 605 Ave. Mariposa S. 826 Pl. Manhattan S. 975 Blvd. W. 3323 Olympic Avenue Oxford South 737 Dr. Kingsley S. 815–831 St. Berendo 427 S. Ave. Alexandria S. 350 2859 Francis Ave. St. Irolo South 698 Ave. Westmoreland S. 616 Ave. Kenmore S. 923–937 Street Berendo South 950 St. Berendo S. 950 Ave. Western S. 401 Dr. Kingsley S. 926 Avenue Dewey 1045 Drive Kingsley 748 South Pl. Andrews St. 719 St. Catalina S. 689 860 S. Normandie Ave. 1120 South Serrano Avenue St. 3rd S. 985 St. W6th 4000 Street Fedora 968 ZIP 90006 90005 90005 90019 90019 90005 90005 90020 90020 90005 90005 90005 90006 90006 90006 90020 90006 90006 90005 90005 90005 90005 90006 90019 90020 90006 SUBMARKET Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown UNITS UNITS 2019

UNITS 2020

PROSPECTIVE PROSPECTIVE / PLANNED 126 103 98 95 94 92 90 85 82 81 80 77 75 75 75 73 69 67 67 65 61 57 52 51 51 50 TOTAL TOTAL 126 103 98 95 94 92 90 85 82 81 80 77 75 75 75 73 69 67 67 65 61 57 52 51 51 50 8TH @ VERMONT | OFFERING MEMORANDUM | CBRE | 23 TOTAL 132 157 166 173 182 193 206 227 228 228 230 251 252 256 269 364 506 470 641 760 11,330 PLANNED / PROSPECTIVE 132 157 166 173 182 193 206 227 228 228 230 251 252 256 269 364 506 470 641 760 8,032 Planned/Prospective 8,032 Units Units 8,032

UNITS 2020 1,381

2019 UNITS 1,917 SUBMARKET SUBMARKET Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Koreatown Under Construction Under 3,226 Units ZIP 90005 90005 90005 90006 90005 90006 90010 90010 90006 90005 90005 90005 90006 90020 90005 90005 90010 90005 90005 90010

ADDRESS 635 S. Western Ave. 744 South Serrano Avenue Serrano South 744 2806 7th West Street 2515 Olympic West Blvd 849 Fedora Street 900 S. Vermont Avenue 3540 Wilshire Blvd Wilshire Blvd. 3875 1000 South Vermont Avenue 2972 7th West Street 800 South Western Avenue 3433 8th West Street 3170 Olympic West Blvd 550 Shatto Pl. 811 South Catalina Street 3525 8th West Street Wilshire Blvd 3700 South 698 Avenue Hampshire New Wilshire Blvd 3470 3600 Wilshire Blvd. OWNER/DEVELOPER OWNER/DEVELOPER Jamison Properties Jamison Jamison Properties Jamison Properties Z&L Neman Investments CGI Strategies Properties Jamison Properties Jamison Properties Jamison Realty A-Ju City Century Properties Jamison Park, Charles Dongsik Park, Benjamin Offerings Urban Hakim, Said Capital Encore Management Properties Jamison Development Harridge Group Properties Jamison Properties Jamison

NAME 635 Western @ Hoover 744 South Serrano Avenue Serrano South 744 Apartments on 7th Street Street Arapahoe Mariposa and Fedora 900 South Vermont Avenue 3540 Wilshire Wilshire 3875 Vermont 1000 2972 7th Street Redevelopment Plaza IB Parks in LA, The Bora 3170, The Soul Catalina, The Rise Koreatown, The Wilshire Blvd West 3700 Wilshire Boulevard 3240 Wilshire Blvd 3470 3600 Wilshire

Sources: Matrix Yardi Inc. | CoStar, KOREATOWN MARKET RATE APARTMENT PIPELINE (continued) PIPELINE APARTMENT RATE MARKET KOREATOWN PROPERTY DESCRIPTION

THE LINE | 0.8 mi. FROM SUBJECT 8TH @ VERMONT | OFFERING MEMORANDUM | CBRE | 25 792 1,872 1,042 1,042 22,400 26,106 26,106 Total NRSF Total .18 1921 7758 3,026 LAR4-2 5 bungalows 5077-018-017 3062 Leeward Avenue 3062 Leeward Los Angeles, CA 90005 Angeles, CA Los 198 468 402 400 40,666 1,042 1,042 33 Spaces NRSF 60 .76 1950 32908 25,048 5077-018-018 LAR4-2 / C2-1 2971 W 8th Street, Street, 2971 W 8th UNIT MIX Los Angeles, CA 90005 Angeles, CA Los 1 4 4 56 65 Unit Count PROPERTY OVERVIEW PROPERTY ZONING ACREAGE LAND SF APN PARKING YEAR BUILT Studios 1 bedroom GROSS BUILDING AREA Total Unit Type Bachelor 3 bedroom TOTAL LAND SF TOTAL PROPERTY ADDRESS PROPERTY UNITS 8TH @ VERMONT | OFFERING MEMORANDUM | CBRE | 26 DENSITY AFFORDABLE REQUIREMENT LIMIT HEIGHT

FAR Low. existing unitsisrequired asfollows: 32%ELI,19%VL, of thedesignated affordable units replacing 70% ofthe support that they are notaffordable units. The allocation as affordable unitsunless there are income documents to AB 2556requires 70% oftheexisting unitsto bereplaced *REPLACING UNITS RSO /AFFORDABLE EXISTING REQUIREMENT DEVELOPMENT POTENTIAL DEVELOPMENT ZONING SUMMARY & SUMMARYZONING & 70% of existing units to be replaced as affordable as replaced to be units ofexisting 70% 400 SF/DU 400 3:1 BASE (LAR4-2) BASE UNLIMITED 102 UNITS 102 121,998 SF 2 additional stories or up to to up or stories 2 additional 32% ELI, 19% VL, 19% Low 19% VL, 19% ELI, 32% whichever is greater 3:1.75 or 50% bonus, bonus, 50% or 3:1.75 22 additional feet additional 22 70% BONUS 70% TOC BONUS ALLOWABLE PER TOC PER ALLOWABLE 46 affordable units* Up to 182,997 SF SF to 182,997 Up 8TH @VERMONT 8TH UNLIMITED 174 UNITS 8TH @ VERMONT | OFFERING MEMORANDUM | CBRE | 27 City of Los Angeles City of Los Department of City Planning Department of City 8th Street Leeward Ave Leeward ZONING GENERALIZED

HIGH MEDIUM RESIDENTIAL Vermont Ave Vermont Generalized Zoning 8TH @ VERMONT | OFFERING MEMORANDUM | CBRE | 28 60 unitsinthemainbuilding,aswell asthethree-bedroom bungalow unit. stucco on the exteriors, updated fencing, new windows throughout, and extensive interior renovations have been completed on seven (7) of the Current ownership hasinvested over $600,000 incapitalexpenditures to date. Renovations have includednew copper plumbing,new paintand EXISTING IMPROVEMENTS EXISTING 8TH @ VERMONT | OFFERING MEMORANDUM | CBRE | 29 8TH @ VERMONT | OFFERING MEMORANDUM | CBRE | 30

S CATALINA ST (98 UnitsUnder 3100 W8thSt Construction)

S BERENDO ST 3350 Wilshire Blvd Conversion Under (260 UnitOffice Construction) HOLLYWOOD

NEW HAMPSHIRE AVENUE Radius Koreatown (177 Units) (301 Units) Berkshire + 148-key Hotel Planned) K2LA 3240 Wilshire (470 Units Dang Soo San Ocean Thai (179 UnitsPlanned)

621 Vermont Ave VERMONT AVENUE Wilshire/Vermont

GRIFFITH PARK

TO METRO TO 6 MIN WALK MIN 6 Wilshire/Normandie Vermont Station

(449 Units)

WEST 7 7 WEST WEST The Vermont Wilshire

(464 Units)

WEST 8 8 WEST WEST

WILSHIRE BLVD BLVD WILSHIRE WILSHIRE

TH TH

ST ST

TH TH

ST ST Vermont Corridor Project

Under Construction) (468,000 SFOffice

S WESTMORELAND AVE AVE WESTMORELAND WESTMORELAND S S 3033 Wilshire (190 Units) Under Construction) Nexen -(228Units 2972 W7thSt GLENDALE 22,000 SF 2929 Leeward Ave SILVERLAKE (80 UnitsUnder Construction) Next on6 (393 Units + (393 Units+ 2900 Wilshire Blvd (644 UnitsUnder Construction) TH

) GLENDALE Affiliated Business Disclosure GRIFFITH PARK CBRE, Inc. operates within a global family of companies with many subsidiaries and related entities (each an “Affiliate”) engaging in a broad range of com- HOLLYWOOD mercial real estate businesses including, but not limited to, brokerage services, property and facilities management, valuation, investment fund manage- Wilshire/Normandie SILVERLAKE Vermont Corridor Project ment and development. At times different Affiliates, including CBRE Global Investors, Inc. or Trammell Crow Company, may have or represent clients who (468,000 SF Office have competing interests in the same transaction. For example, Affiliates or their clients may have or express an interest in the property described in this Under Construction) Memorandum (the “Property”), and may be the successful bidder for the Property. Your receipt of this Memorandum constitutes your acknowledgement of that possibility and your agreement that neither CBRE, Inc. nor any Affiliate has an obligation to disclose to you such Affiliates’ interest or involvement in 3033 Wilshire Wilshire 621 Vermont Ave (190 Units) the sale or purchase of the Property. In all instances, however, CBRE, Inc. and its Affiliates will act in the best interest of their respective client(s), at arms’ Vermont Station (179 Units Planned) Next on 6TH Radius Koreatown (449 Units) length, not in concert, or in a manner detrimental to any third party. CBRE, Inc. and its Affiliates will conduct their respective businesses in a manner con- 3350 Wilshire Blvd (301 Units) (393 Units + sistent with the law and all fiduciary duties owed to their respective client(s). (260 Unit Office 22,000 SF ) Conversion Under Construction) Berkshire Confidentiality Agreement K2LA The Vermont (177 Units) (464 Units) Your receipt of this Memorandum constitutes your acknowledgement that (i) it is a confidential Memorandum solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property, (ii) you will hold it in the strictest confidence, (iii) you will not disclose it or its contents to any third party without the prior written authorization of the owner of the Property (“Owner”) or CBRE, Inc., and (iv) you will WILSHIRE BLVD 2929 Leeward Ave not use any part of this Memorandum in any manner detrimental to the Owner or CBRE, Inc. (80 Units Under Wilshire/Vermont Construction) If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return it to CBRE, Inc.

2972 W 7th St Nexen - (228 Units Under Construction) Disclaimer

3100 W 8th St TH WEST 7 ST This Memorandum contains select information pertaining to the Property and the Owner, and does not purport to be all-inclusive or contain all or part of (98 Units Under 3240 Wilshire Construction) (470 Units the information which prospective investors may require to evaluate a purchase of the Property. The information contained in this Memorandum has been + 148-key Hotel Planned) 6 MIN WALK obtained from sources believed to be reliable, but has not been verified for accuracy, completeness, or fitness for any particular purpose. All information is presented “as is” without representation or warranty of any kind. Such information includes estimates based on forward-looking assumptions relating to Thai TO METRO Ocean S WESTMORELAND AVE the general economy, market conditions, competition and other factors which are subject to uncertainty and may not represent the current or future per- formance of the Property. All references to acreages, square footages, and other measurements are approximations. This Memorandum describes certain documents, including leases and other materials, in summary form. These summaries may not be complete nor accurate descriptions of the full agreements San 2900 Wilshire Blvd Soo (644 Units Under referenced. Additional information and an opportunity to inspect the Property may be made available to qualified prospective purchasers. You are advised Dang Construction) to independently verify the accuracy and completeness of all summaries and information contained herein, to consult with independent legal and financial advisors, and carefully investigate the economics of this transaction and Property’s suitability for your needs. ANY RELIANCE ON THE CONTENT OF THIS S CATALINA ST WEST 8 TH ST MEMORANDUM IS SOLELY AT YOUR OWN RISK. S BERENDO ST The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to termi- nate discussions at any time with or without notice to you. All offers, counteroffers, and negotiations shall be non-binding and neither CBRE, Inc. nor the Owner shall have any legal commitment or obligation except as set forth in a fully executed, definitive purchase and sale agreement delivered by the Owner.

VERMONT AVENUE

NEW HAMPSHIRE AVENUE 8TH @ EXCLUSIVELY LISTED BY CHRIS TRESP DEANVERMONT ZANDER Senior Associate Executive Vice President +1 310 228 2122 +1 310 550 2599 Lic. 01846401 Lic. 00875853 [email protected] [email protected]

FINANCING

GREG GRANT Senior Vice President +1 310 363 4935 Lic. 01844513 [email protected]