SAN FRANCISCO RESIDENTIAL DEVELOPMENT

JUNE 2016 NAVIGATION Click page numbers to be taken directly to page

NEWS & MARKET CURRENTLY HIGHLIGHTS PERFORMANCE SELLING

NEWS AND HIGHLIGHTS MARKET PERFORMANCE CURRENTLY SELLING

Median $/SqFt Currently Year-Over-Year Month-Over-Month CURRENTLY SELLING... Luxe New Condominiump. $1,218/SqFt + 15% p. + 2% p. Nearly half of second phase is under contract. Price per square foot3 is 4 1650 Broadway at Van5 Ness | Pacific Heights Shipyard’s Resale Condominium $1,042/SqFt + 11% + 2% averaging approximately $760. The first phase averaged approximately $660 per Status: 34 units available/0 in-contract/0 closed square foot. New Apartment $5.10/SqFt + 7% N/A Pre-sale: August 2015 Closings anticipated: Q1 2016 Less than 100 units remain available at The Rockwell. Current absorption surpasses Project info: 34 units, 7-stories, 34 parking spaces 30 units a month. NEW CONDOMINIUM PRICING & VOLUME Developer: Belrich Partners Sales are expected to commence this month at the second phase of Onyx , consisting Architect: Forum Design of 21 condominiums. Median Price & Closing Volume Interior Design: Edmonds + Lee Features & Finishes: Marble tile and zinc facade, Floor- Closings have commenced at Lumina’s Plaza A. Price per square$1,200,000 foot is averaging 180 approximately $1,500. to-ceiling windows, Bay and Golden Gate views, Studio 160 Click development to be taken directly to page $1,000,000 Becker Cabinetry, Mobile kitchen islands, Caesarstone 140 Most Recent Quarter countertops, Subzero refrigerators, Thermador ap- $800,000ONE FRANKLIN 181 FREMONT ONE120 MISSION BAY THE HARRISONpliances, Uline THE wine coolers, PACIFIC Duravit and Hansgrohe 100 Median: $1,000,000 PROPOSED... $600,000 fixtures, Victoria + Albert limestone soaking tubs, 388 FULTON 450 HAYES THE DISTRICT80 1001 17TH LUMINA FramelessROCKWELL glass showers; PenthousesLUXE only: Gas fire- 131 Group Housing untis have been proposed for 1798 Bryant Street$400,000 at 17th. The 7-story 60 Units Closed: 52 places, Walk-in pantries and closets, Calacatta marble,

project will offer a shared kitchen as amenity space. 40 Number Closed Custom millwork Median Sale Price $200,000 FULTON 555 72 TOWNSEND20 SHIPYARDUnits Available: 758* SUMMIT 800 6 MINT 36 Group Housing units have been proposed for 45 Dore Street in Western SOMA. The Amenities: Lounge, Two-story lobby project has not proposed any car parking, and will include a communal$0 living space. 0 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Website: Luxe-SF.com A six-story building has been proposed for 1075 Folsom Street at 7th. The project consistsMedian Sale of Price # Closings 34 units, 15 car spaces and 40 bicycle spaces. Panoramic Interests has proposed two five-story buildings at 333 12th Street at Folsom. 182 * As of September 2015; Restricted units have been proposed, along with 182 bicycle spacesRESALE andSOLD-OUT no carCONDOMINIUM parking. PRICING & & VOLUME UPCOMINGby phased marketing releases PIPELINE 77 units have been proposed for 552 Brannan Street at 4th. The Project proposes 34 car spaces and 80 bicycle spaces. RESALEMedian Price & Closing Volume DEVELOPMENTS SUMMARY 700 $1,150,000 600 CLICK TO RETURN TO THE $1,100,000NAVIGATION PAGE CLICK TO RETURN TO THE NAVIGATION PAGE CITY PLANNING... AFFORDABLE HOUSING BONUS PROGRAM Most Recent Quarter 500 PIPELINE$1,050,000 SUMMARY What is the Affordable Housing Bonus Program (AHBP)?400 This new City Program aims to increase Median: $1,111,250 the supply of affordable housing, by increasing allowable residential density and height limits. $1,000,000 300 Developers who provide 30 percent (or greater) affordable units will be relieved Approved,$950,000 UnderUnits Review Closed: and 560 Conceptual How does it work? 200 Sales of density limits, and be allowed to build two additional residential stories.MISSION@1875p. The affordable units Development p. Area Developer / Owner ApprovedArea Units Underp.Commence Review Conceptual would be broken down into two categories: 100 28 $900,000 Months38 Supply Inventory: 1 40 0 1875 Mission Street at 15th | Mission2655 Bush Street at Divisadero$850,000Bayview/Hunters Point/CandlestickKB Home Point Lower Pac12,771 Heights 81 Q4499 2015 3,780 12% low income (55% of area median income for rental; 90% for ownership) Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Status: Average $/SqFt: $1,055 1001 17th Street at PennsylvaniaDogpatch 1001 17th Street Associates Potrero2,360 Hill 26 Q4907 2015 0 18% moderate income (120% of area median income for rental; 140% forDate ownership) on market: Number October Closed 2014 Median Sale Price UNIT MIX 1868 Van Ness Avenue at SacramentoHayes Valley N/A Van Ness Corridor116 35 Q4170 2015 24 The development would also be required to offer at least 40 percent Developer:two-bedroom M1875 units. LLC Mid-Market Number of 32 2,590 0 Developments which contain 100 percent affordable units would be offeredProject info: the 39same units, relief 4-stories, from 6 BMRs,450 Hayes 24 parking Street at spaces, Gough Monthly Unit Type DDG/DMUnits Hayes ValleySize Range41 Q4 2015 density limits, and up to three additional residential stories. HOA fee: $400 - $520 Mission 141 1,559 134 NEW APARTMENT PRICING & OCCUPANCYPacific - 2155 Webster Street at Sacramento1 - Bedroom Trumark Urban9 Pacific Heights902 - 918 SqFt76 Q1/Q2 2016 There is also an alternate State mandated Bonus Program, which allowsAmenities: for greater Rooftop density pool, and dog run Mission2 - BayBedroom 11 5201,112 - 1,697 SqFt 1,500 0 1450 Franklin Street at Bush Village Properties Western Addition 67 Q1 2016 heights on a graduated basis, depending on the number and type of BMRFinishes: units Ann provided. Sacks/Porcelanosa tile, hardwood floors, Blanco Average Price & Occupancy Northern3 - Bedroom Neighborhoods 14 1,607132 - 2,014 SqFt 1,663 0 faucets, Bertazzoni microwaves/ranges,One Rincon Leibherr Hill refrigerators,II - 401 Harrison brass Street Rockpoint/Maximus Rincon Hill 298 Q1 2016 Where does it apply? The Program applies to residential mixed-use$4,000 districts. The programClick development does not to be taken directly95.0% to page apply for RH-1 or RH-2 (one- and two-family house) zoning districts, whichentry doors,account Heath for Ceramicsover 70% house of numbers, radiant heated floorsPotrero Hill 131 1,019 323 $3,900 3420 18th Street at San Carlos N/A Mission 16 Q1 2016 the City. $3,800 Website: M1875.com 94.0%South of Market 1,560 5,037 1,188 $3,700 1050 Valencia Street at Hill 93.0% N/A Mission 12 Q1 2016 What are next steps? The City aims to have Program legislation$3,600 enacted400 by year’s GROVE end. For fullSAPPHIRE ONYX ARDENSouthern NeighborhoodsMost MILLENNIUM Recent Quarter TOWER1,704 ONE RINCON1,201 HILL 334 program details, visit SF-Planning.org. $3,500 388 Fulton Street at Franklin92.0% 7x7 Development Hayes Valley 61 Q1 2016 CLOSING DETAILS Transbay 949 784 0 $3,400 91.0% Average: $3,875 $3,300 Rowan - 346 Potrero Avenue at 16th Trumark Urban Potrero Hill 70 Q1 2016 Unit Type SqFt HOA $ Parking Closing Price $/SqFt Closing Date90.0%TreasureOccupancy Island 8,619 0 0 Average Price Average $3,200 Occupancy: 91% 580 Hayes Street at Laguna Laguna Hayes LLC Hayes Valley 29 Q1 2016 109 2/2 1,272 $3,100 $560 1 $1,200,000 $943 8/28/201589.0%Upper Market 24 222 0 $3,000 410 2/1 779 $420 1 $945,000 $1,213 8/3/2015 PG.3 SAN FRANCISCO RESIDENTIAL DEVELOPMENT SEPTEMBER 2015 $2,900 One Mission Bay - 1000 Channel88.0%Van Street Ness at Corridor 3rd CIM Group Mission 0Bay 350 Q11,485 2016 0 404 2/1 750 $412Q1 2014 Q2 20141 Q3 2014$935,000Q4 2014 $1,247Q1 2015 Q27/28/2015 2015 1 Franklin Street at Market Western Neighborhoods JS Sullivan Hayes9,007 REPORTValley 35 Q2574 2016 NOTES750 311 1/1 777 SUPPLY$419 0 Average Price$729,000 Occupancy$938 6/23/2015ABOUT & 181 Fremont Street at HowardPG.5 SAN FRANCISCO RESIDENTIAL DEVELOPMENTJay Paul Company AUGUST 2015 Transbay 67 Q2 2016 310 1/1 779 $419 0 $739,000 $949 6/5/2015 Total While38,066 the Report19,210 focuses on condo6,533- miniums, select information on apart- 411 2/1 778 $420 1 $950,000 832 Sutter$1,221 Street at6/5/2015 JonesDISCLAIMERN/A Lower Nob Hill 20 Q2 2016 308 0/1 623 $376 0 $675,000 $1,083 5/14/2015 ments has been presented as well. The Knox - 645 Texas StreetUnder at 22nd Construction (by Trumarkproduct Urban type) Potrero Hill 91 Q3 2016 208 0/1 PG.4 SAN626 FRANCISCO RESIDENTIAL$363 DEVELOPMENT0 SEPTEMBER$625,000 2015 $998 5/11/2015 most recent available data has been Tower at Nob Hill - 1545 Pine Street at Van Ness AreaPacific Eagle Holdings CondominiumsNob Hill 103 ApartmentsQ3 2016 All 312 2/1 805 $410 1 $910,000 $1,130 4/24/2015 used, with data from MAY 2015/2016 Dogpatch used0 for comparisons259 and statistics.259 210 1/1 779 $420 1 $780,000 5800$1,001 Third Street 4/23/2015- Phase II Holliday Development BayviewBelow Market136 RateQ4 2016 (BMR) and senior 412 2/1 801 $426 1 $980,000 $1,223 4/22/2015 Hayes Valley 166 280 446 1450 15th Street at Shotwell 10 South Shore LLC Missionhousing units23 haveQ4 2016 been omitted from 204 1/1 752 $451 1 $740,000 $984 4/21/2015 Mid-Market 0 143 143 690 Page Street at Steiner Page Steiner Associates Lowerclosings Haight and12 statisticsQ4 2016 where possible. 203 1/1 754 $421 1 $754,000 $1,000 4/17/2015 Mission Note12 that it can take0 a few months12 be- 209 1/1 800 $426p. 1 $765,000 $956 4/17/2015 p. RESIDENTIAL SUPPLY 41 ABOUT Mission Bay42 fore0 unit closings 574appear in the public574 406 2/1 631 $377 1 $700,000 $1,109 4/14/2015 records. Absorption is measured from Northern Neighborhoods 279 0 279 PROJECTED SUPPLY 403 2/1 752 $409 1 $920,000Vanguard Properties$1,223 4/1/2015 expertly guides low- to high-density residentialthe developers. start of salesCore until the current pe- 106 0/1 619 $400 0 $560,000consulting services$905 include3/31/2015 PotreroResearch, Hill Land Acquisition, Design, Branding,riod.213 The Promotion, Report Sales covers453 developments666 202 1/1 772 $418 1 $754,000Strategy and$977 Risk Management.3/16/2015 From1 franklinconcept to close-out, Vanguard leads the way to The spike in apartment supply in Q1 2016 reflects the anticipation of 1,300 new units South of Market with0 over four units.3,165 HOA dues include3,165 305 2/1 780 $403 1 $905,000successful $1,160development. 3/10/2015 For a list of developments, visit VanguardSF.com being released, mostly located in large Developments South of Market. Condominium Transbay parking67 fees, where472 applicable. 539 supply continues to be minimal,107 as few0/1 developments633 have $378broken ground0 in recent$575,000 $908 3/6/2015 months. However, there are407 over 16,0000/1 approved645 condominiums$368 in the 0Pipeline,$650,000 and 1001$1,008 17th 3/6/2015 Upper Market 0 the pacific87 87 supply is poised to increase108 dramatically.0/1 Lately, 620there has been$360 less upward0 pressure$589,000For Developer $950 Services,2/27/2015 contact:Van Ness Corridor 34 0 34 on new apartment pricing, as compared to new condominium pricing. This is likely 206 0/1 626 $360 0 $619,000FRANK NOLAN$989 2/27/2015 JAMESTotals NUNEMACHER 771 5,433 6,204 due to far greater production211 of apartments.1/1 However,799 with$426 development1 timelines$775,000 $970 2/27/2015 running one to two years between groundbreaking and completion, any anticipated 309 1/1 804 $402 1 $899,000VP, Director $1,118 of Development 2/27/2015 Co-founder & Principal condominium supply would come some years later. New condominium inventory is NOTES: currently running eight percent306 lower0/1 month-over-month.PG.2 SAN620 FRANCISCO $378 RESIDENTIAL0 $650,000415.377.3726 DEVELOPMENT $1,048 JUNE2/25/2015 2016 415.519.7772 304 1/1 751 $412 1 $901,200 $1,200 2/20/2015The category, Under Construction - Condominiums, does not include developments which are pre-selling [email protected]. These [email protected] are categorized as Currently Selling. UNIT MIX BRE License No. 01300017 Northern NeighborhoodsBRE License covers No. 00913606 Cathedral Hill, Western Addition, Pacific Heights, Nob Hill, Lower Nob Hill, ProjectedNumber Supply of Financial District, Russian Hill, Telegraph Hill, North Beach & Marina/Cow Hollow. Unit Type Units Size Range 2,500 Studio 10 620 SqFt For additional marketSouthern reporting, Neighborhoods contact: covers Oceanview, Glen Park, Outer Mission, Mission Terrace, Visitacion Valley. 1 - Bedroom 13 780 - 795 SqFt Western Neighborhoods covers Park Merced, Parkside, Forest Knolls, Richmond, Sunset, Laurel Heights. 2,000 1,926 2 - Bedroom 16 628 - 1,272 SqFtJONATHAN MOFTAKHAR 1,500 PG.17 SAN FRANCISCO RESIDENTIAL DEVELOPMENT1,302 OCTOBER 2015 1,323 MarketPG.30 SAN Analyst FRANCISCO RESIDENTIAL DEVELOPMENT OCTOBER 2015 Units 1,130 1,195 1,000 415.920.3731 PG.29 SAN FRANCISCO RESIDENTIAL DEVELOPMENT JULY 2015 888 817 879 [email protected] 500 438 312 241 208 BRE License No. 01442709 0 84 23 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017

New Condominiums New Apartments

HISTORICAL SUPPLY

Affordable units accounted for 21% of production in 2014. 63% of affordable units produced were targeted towards households earning 80% of area median income (AMI).

Historical Supply

4,000 VANGUARD PROPERTIES REPORT DISCLAIMER 3,454 3,500 3,366 Data sources for this Report include but are not limited to SFAR MLS, the San Francisco Planning Department, development mar - 3,019 keting websites and industry news/information outlets. The information in this Report is subject to errors, as it is compiled from 3,000 2,730 multiple sources, with varying degrees of accuracy and currency. This Report should not be reproduced or distributed, in whole or 2,500 2,260 2,330 2,197 2,141in part, without the prior written consent of Vanguard Properties. The statements in this Report, which are not historical facts, are 2,000 1,859 1,7801,872 projections or estimates based on Vanguard Properties’ opinions and expectations of future market performance. Although the 1,619 1,675 information presented is believed to be correct, no representation is made by Vanguard Properties as to the accuracy or complete - 1,500 1,225 1,082 ness of the information. The information presented may be subject to updating, revision or verification, and such information may New Units Produced 909 906 909 1,000 794 change in a material nature. This is not an offer to rent or sell property, and is intended for information purposes only. This Report 532 500 348 should not be relied upon or utilized in making investment decisions. ©2015 Vanguard Properties, All rights reserved. 0

* Year-to-date

PG.31 SAN FRANCISCO RESIDENTIAL DEVELOPMENT AUGUST 2015

PG.31 SAN FRANCISCO RESIDENTIAL DEVELOPMENT JULY 2015 CLICK TO RETURN TO THE NAVIGATION PAGE NEWS AND HIGHLIGHTS

ales have commenced at One SFranklin, 35 units located at the foot of Hayes Valley. view page 5 for details price list has been made available for A181 Fremont, the luxury tower in the Transbay District. see page 6 for details

ore closings have been released for MLumina’s Tower D, and price per square foot for this tower averages $1,368. see page 18 for details

price list has been made available for AThe Pacific’s Row House collection. see page 10 for details

PG.3 SAN FRANCISCO RESIDENTIAL DEVELOPMENT JUNE 2016 CLICK TO RETURN TO THE NAVIGATION PAGE MARKET PERFORMANCE

Median $/SqFt Currently Year-Over-Year Month-Over-Month New Condominium $1,355/SqFt + 11% + 4% Resale Condominium $1,000/SqFt - 4% - 3%

NEW CONDOMINIUM PRICING & VOLUME

Median Price & Closing Volume

600 $1,600,000 $1,400,000 500 $1,200,000 Most Recent Quarter 400 $1,000,000 Median: $976,000 300 $800,000

200 $600,000 Units Closed: 54 $400,000 100 $200,000 Units Available: 1,112* 0 $0 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016

Number Closed Median Sale Price

* Market-rate; As of June 2016 RESALE CONDOMINIUM PRICING & VOLUME

Median Price & Closing Volume 800 $1,150,000 $1,100,000 600 Most Recent Quarter $1,050,000 Median: $1,100,000 400 $1,000,000 $950,000 Units Closed: 375 200 $900,000 Units Available: 287* 0 $850,000 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016

Number Closed Median Sale Price

* Market-rate; As of June 2016 NEW APARTMENT PRICING & OCCUPANCY

Average Price & Occupancy 95.0% $4,200 94.0% $4,000 93.0% Most Recent Quarter 92.0% $3,800 Average: $4,015 91.0% $3,600 90.0% Occupancy: 92% $3,400 89.0% 88.0% $3,200 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Occupancy Average Price

PG.4 SAN FRANCISCO RESIDENTIAL DEVELOPMENT JUNE 2016 CLICK TO RETURN TO THE NAVIGATION PAGE DEVELOPMENT SNAPSHOT Currently Selling

ONE FRANKLIN 1 Franklin Street at Market | Hayes Valley Status: 5 units in-contract Project specs: 35 units, 8-stories, HOA: Approx. $545 - $640 Ground broken: Q1 2015 Date on Market: June 2016 First Closings: August 2016 Developer: JS Sullivan Architect: Forum Design Features & Finishes: Wide-plank oak flooring, Air conditioning, Bertazzoni ranges, Silestone quartz counter tops, Grohe fixtures Amenities: $2,500 in Uber credits, $2,500 in Luxe valet credits, One year of Hello Alfred butler service, Courtyard, Sixth-floor deck with BBQ Website: OneFranklinSF.com

1 FRANKLIN STREET, SAN FRANCISCO, CALIFORNIA 94102 415.863.1111 [email protected] FRANKLIN STREET, ONEFRANKLINSF.COM SAN FRANCISCO, CALIFORNIA 94102 415.863.1111 [email protected] FRANKLIN STREET, ONEFRANKLINSF.COM SAN FRANCISCO, CALIFORNIA 94102 415.863.1111 [email protected] ONEFRANKLINSF.COM

SAMPLE FLOOR PLANS STUDIO ONE-BEDROOM TWO-BEDROOM

C C C C BEDROOM BATH BEDROOM BALCONY BATH

W/D RESIDENCE RESIDENCE RESIDENCE

KITCHEN KITCHEN BATH W/D FRANKLIN ST FRANKLIN ST

FRANKLIN ST C 203 202 PAGE ST 401 PAGE ST PAGE ST KITCHEN LIVING ROOM Studio 1-bedroom 2-bedroom 1-bathroom 1-bathroom 1-bathroom C approx. 445 sq ft approx. 525 sq ft N approx. 812 sq ft N N

BEDROOM LIVING ROOM C

W/D

PLAN NOT TO SCALE. Floor plans areUNIT drawn to varying scales MIX to maximize visibility AND when printed. The floorSTARTING plans, elevations, renderings, features, finishes PRICING and specifications are subject toPLAN change NOT at any TO time SCALE. and should Floor not plans are drawn to varying scales to maximize visibility when printed. The floor plans, elevations, renderings, features, finishes and specifications PLANare subject NOT to TOchange SCALE. at any Floortime andplans should are drawn not to varying scales to maximize visibility when printed. The floor plans, elevations, renderings, features, finishes and specifications are subject to change at any time and should not be relied on as representations, express or implied. Square footage or floor areas shown in any marketing or other materials is approximate and may be more or less than the actual size. Real estate beconsulting, relied on sales as representations, and marketing expressby or implied. Square footage or floor areas shown in any marketing or other materials is approximate and may be more or less than the actual size. beReal relied estate on consulting,as representations, sales and express marketing or implied. by Square footage or floor areas shown in any marketing or other materials is approximate and may be more or less than the actual size. Real estate consulting, sales and marketing by Polaris Pacific. A licensed California, Arizona, Colorado, Oregon and Washington broker—CA BRE #01499250. Polaris Pacific. A licensed California, Arizona, Colorado, Oregon and Washington broker—CA BRE #01499250. Polaris Pacific. A licensed California, Arizona, Colorado, Oregon and Washington broker—CA BRE #01499250.

Unit Type # Of Units SqFt Range Average SqFt $ Studio 10 445 - 479 SqFt 463 SqFt $595K + One-bedroom 10 504 - 548 SqFt 528 SqFt $699K + Two-bedroom 15 788 - 1,080 SqFt 896 SqFt $1.049MM +

PG.5 SAN FRANCISCO RESIDENTIAL DEVELOPMENT JUNE 2016 CLICK TO RETURN TO THE NAVIGATION PAGE

DEVELOPMENT SNAPSHOT Currently Selling 181 FREMONT RESIDENCES 181 Fremont St at Howard | Transbay/South Beach Status: 5 units in-contract Average $/SqFt (sample listings): $3,063 Project specs: 67 units: 55 residences & 12 accessory suites, 70-story residential/office tower (residence floors: 54-70) Ground broken: Q4 2013 Date on Market: May 2016 First Closings: Q3 2017 Developer: Jay Paul Company Architect: Heller Manus Interiors: Orlando Diaz Features & Finishes: Exoskeleton structural system with column-less interiors, Earthquake insurance, LEED Platinum, Calacatta marble lobby and corridor accents, Paldao wood lacquer veneer entry doors, Polished brass entry door handles, Floor-to-ceiling windows, Approx. 9’ ceilings, Kitchens with quartz- ite counter tops/Valcucine glass cabinetry/Liebherr, Miele, Sub Zero, Bosch appliances, Master baths with full-height slab honed Arabescato Corchia marble walls/slab marble heated floors/Kohler, Dornbracht, Hansgrohe, Duravit fixtures, Ann Sacks pebble shower floors, Solid bronze door knobs, French oak floors, Recessed cove soffit lighting, Ceruse-ebonized oak wall accents and entertainment cabinet, Lutron motorized shades, Glass beaded wall paper, Bay and City views Amenities: Lobby attendant, Full-time concierge, Valet parking, 7th-floor Sky Bridge to Transbay City Park, 52nd amenity floor with: Fitness center, Yoga room, Library, Conference room, Catering kitchen, Bar, Lounge, Wrap-around terrace Sales Center: 101 California Street, 42nd Floor Website: 181Fremont.com

SAMPLE LISTINGS

Unit Type SqFt HOA $* Parking Listing Price $/SqFt 68A 2/2.5 + Den 3,368 $3,992 2 $14,500,000 $4,305 62B 3/3.5 2,263 $3,639 2 $6,880,000 $3,040 61D 2/2 1,637 $2,944 1 $4,315,000 $2,636 55C 2/2.5 + Den 1,605 $2,944 1 $3,580,000 $2,231 64C 2/2.5 1,260 $2,837 1 $3,405,000 $2,702 60C 2/2.5 + Den 1,262 $2,837 1 $3,245,000 $2,571 54H Accessory Jr. 1-bed 623 $2,646 1 $1,450,000 $2,327 54L Accessory 1-bedroom 572 $2,618 1 $1,330,000 $2,325 54B Accessory Studio 403 $2,572 1 $1,100,000 $2,730

*HOA dues include $500 per space monthly parking fee

PG.6 SAN FRANCISCO RESIDENTIAL DEVELOPMENT JUNE 2016 CLICK TO RETURN TO THE NAVIGATION PAGE DEVELOPMENT SNAPSHOT Currently Selling

ONE MISSION BAY 1000 Channel Street at 3rd | Mission Bay Status: Approximately 50 units in-contract, 300 units available, Average $/SqFt (estimated): $1,200 Project specs: 350 units, one 16-story high-rise & one 6-story mid-rise, HOA: $633 - $1,033+ Ground broken: Q3 2015 Date on Market: April 2016 First Closings: Q2 2017 Developer: CIM Group/Strada Investment Group Architect: Arquitectonica Landscape: CMG Interiors: II by IV Design Features & Finishes: Gaggenau ovens/cook tops/ ranges/refrigerators/paneled dishwashers, Caesar- stone quartz counter tops, Hardwood floors, Kohler fixtures Amenities: Lounge, Courtyard with pool/cabanas/fire pit/BBQs, Fitness center with sauna, Business cen- ter, Library, Guest suite, Conference rooms, Catering kitchen, 13,000 SqFt ground level retail Website: OneMissionBay.com Sales center: 660 3rd Street

UNIT MIX AND STARTING PRICING

Unit Type # Of Units Size Range $ Studios 22 508 SqFt $575K + One-bedroom 71 631 - 870 SqFt $700K + One-bedroom + Den 53 770 - 1,122 SqFt $800K + Two-bedroom 61 986 - 1,440 SqFt $1MM + Two-bedroom + Den 98 1,110 - 1,541 SqFt $1MM + Three-bedroom 25 1,294 - 1,958 SqFt $1.5MM + Three-bedroom + Den 7 1,452 - 1,958 SqFt $2MM +

PG.7 SAN FRANCISCO RESIDENTIAL DEVELOPMENT JUNE 2016 CLICK TO RETURN TO THE NAVIGATION PAGE

DEVELOPMENT SNAPSHOT Currently Selling

THE HARRISON 401 Harrison Street at Fremont | Rincon Hill Status: 285 units available/13 in-contract, Average $/SqFt (sam- ple listings): $1,709/SqFt Project specs: 298 units, 49-stories Date on Market: April 2016 First Closings: July 2016 Developer/Owner: Rockpoint/Maximus Architect/Interiors: Solomon Cordwell Buenz/Ken Fulk Features & Finishes: Diagonal-planked Siberian oak floors, Wa- terworks fixtures, Un-lacquered brass hardware, Bosch washer/ dryers, Studio Becker Ash Molina gray cabinetry, Carrara marble counter tops and backsplash, Kitchens with Kohler sinks/Sub-Ze- ro paneled refrigerators/Bertazzoni gas cook tops, ovens, mi- crowaves/Bosch Ascenta dishwashers, Bathrooms with Chevron honed-finish olive porcelain tile floors/Decolav sinks/Brass wall sconces/Carrara subway tiled showers, Bay Bridge and City views Amenities: Full-service concierge, 24-hour attended lobby, 24- hour valet parking, Electric vehicle car charging, Resident stor- age, Package room with refrigerated storage, Controlled access elevators, Bicycle parking, 49th-floor lounge with dining area/ kitchen/fireplace, Terrace with reflection pool/garden/BBQs, Wine storage, 55-foot pool, Jacuzzi, 2,500 SqFt fitness center, Lobby with double-height ceiling/ two-story library Website: TheHarrisonSF.com

THE HARRISON SAMPLE LISTINGS CONTINUED ON FOLLOWING PAGE...

PG.8 SAN FRANCISCO RESIDENTIAL DEVELOPMENT JUNE 2016 CLICK TO RETURN TO THE NAVIGATION PAGE DEVELOPMENT SNAPSHOT Currently Selling SAMPLE LISTINGS - THE HARRISON

Unit Type SqFt HOA $ Parking Listing Price $/SqFt 4A 1/1 1,110 $1,406 1 $825,000 $743 4B 1/1 741 $1,285 1 $801,000 $1,081 4C 2/2 1,289 $1,459 1 $1,773,000 $1,375 4D 1/1 606 $1,239 1 $981,000 $1,619 4E 1/1 707 $1,285 1 $995,000 $1,407 4F 2/2 1,241 $1,458 1 $1,223,000 $985 4G 1/1 810 $1,314 1 $768,000 $948 AVERAGES 929 $1,349 $1,052,286 $1,133 12A 1/1 840 $1,314 1 $1,090,000 $1,298 12B 2/2 1,312 $1,476 1 $1,837,000 $1,400 12C 2/2 1,286 $1,458 1 $2,012,000 $1,565 12D 1/1 607 $1,239 1 $1,073,000 $1,768 12E 1/1 707 $1,285 1 $1,091,000 $1,543 12F 2/2 1,240 $1,458 1 $2,171,000 $1,751 12G 1/1 819 $1,314 1 $1,562,000 $1,907 12H 1/1 759 $1,285 1 $1,182,000 $1,557 AVERAGES 946 $1,354 $1,502,250 $1,588 16A 1/1 840 $1,314 1 $1,161,000 $1,382 16B 2/2 1,312 $1,476 1 $1,953,000 $1,489 16C 2/2 1,286 $1,458 1 $2,126,000 $1,653 16D 1/1 607 $1,240 1 $1,136,000 $1,871 16E 1/1 707 $1,285 1 $1,159,000 $1,639 16F 2/2 1,240 $1,459 1 $2,280,000 $1,839 16G 1/1 819 $1,314 1 $1,635,000 $1,996 16 H 1/1 759 $1,285 1 $1,253,000 $1,651 AVERAGES 946 $1,354 $1,587,875 $1,678 23A 1/1 840 $1,314 1 $1,232,000 $1,467 23B 2/2 1,311 $1,477 1 $2,063,000 $1,574 23C 2/2 1,334 $1,477 1 $2,491,000 $1,867 23D 2/2 1,297 $1,459 1 $2,805,000 $2,163 23E 2/2 1,241 $1,459 1 $2,755,000 $2,220 23F 1/1 830 $1,314 1 $1,717,000 $2,069 23G 1/1 758 $1,285 1 $1,324,000 $1,747 AVERAGES 1,087 $1,398 $2,055,286 $1,890 34A 1/1 840 $1,314 1 $1,375,000 $1,637 34B 2/2 1,311 $1,477 1 $2,396,000 $1,828 34C 2/2 1,334 $1,477 1 $2,926,000 $2,193 34D 2/2 1,297 $1,458 1 $3,329,000 $2,567 34E 2/2 1,241 $1,458 1 $3,173,000 $2,557 34F 1/1 830 $1,314 1 $1,863,000 $2,245 34G 1/1 758 $1,285 1 $1,467,000 $1,935 AVERAGES 1,087 $1,398 $2,361,286 $2,172

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DEVELOPMENT SNAPSHOT Currently Selling

THE PACIFIC - ROW HOUSE COLLECTION

2121 Webster Street at Sacramento | Pacific Heights Status: 4 units available/6 in-contract Average $/SqFt (sample listings): $1,497 Project specs: 3 and 4-story townhomes, 10 units, 0 BMRs, HOA $: approximately $2,000 (including parking) Pre-sale: February 2016 First Closings: July 2016 Developer: Trumark Urban Architect/Interiors: Handel Features & Finishes: Private outdoor space, Gaggenau appliances, Arclinea cabinetry, Dornbracht/Waterworks/ Duravit/Blanco fixtures Amenities: Concierge, Valet parking, Guest suite, Fitness studio, Yoga garden, Courtyard, Penthouse lounge Website: ThePacificHeights.com

SAMPLE LISTINGS

Unit Type SqFt* Parking List $ $/SqFt* 2 3/3.5 2,404 1 $3,495,000 $1,454 9 3/3.5 2,404 1 $3,595,000 $1,495 8 3/3.5 2,404 1 $3,995,000 $1,662 7 3/3.5 2,993 1 $4,195,000 $1,402

*Square footage and $/SqFt are approximate

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DEVELOPMENT SNAPSHOT Currently Selling

388 FULTON 388 Fulton Street at Gough | Hayes Valley Status: 29 market-rate units available/32 in-contract, Aver- age $/SqFt (sample listings): $1,441, Approximate absorp- tion: 11 units/month Project specs: 8 BMRs, 6-stories, 69 total units, 0 car park- ing, 69 bicycle parking, HOA fee: $345 - $500 Date on market: March ‘16 Closings anticipated: July ‘16 Developer: 7x7 Development Architect: David Baker Interiors: Charles de Lisle Features & Finishes: Black-glazed facade tile, Stone walk- ways, Board-form concrete exterior walls, Solar thermal water heating, Approx. 8’10” ceilings, Low/No-VOC paints, LED lighting, Bertazzoni Professional Series cook tops and ovens, Broan Elite range hoods, Bosch dishwash- ers, Blomberg built-in refrigerators, Moen kitchen sinks, Grohe faucets, Quartz counter tops with full-height tile backsplash, High-gloss white and black kitchen cabinets, Ecotimber FSC-certified white oak flooring, Kohler Archer bathtubs, Duravit Starck Series toilets, Ceramic tile bath- room floors Amenities: Roof terrace with grill, fire pit, and film screen- ing, Courtyard, Lounge, Bicycle storage with work station, Common area WIFI, Virtual Doorman Website: 388Fulton.com

SAMPLE LISTINGS

Unit Type SqFt HOA $ List $ $/SqFt Unit Type SqFt HOA $ List $ $/SqFt 207 0/1 371 $346 $539,396 $1,454 412 1/1 404 $385 $626,652 $1,551 304 0/1 326 $346 $539,888 $1,656 201 2/1 701 $499 $929,408 $1,326 306 0/1 354 $346 $542,022 $1,531 501 2/1 701 $499 $938,742 $1,339 403 0/1 326 $346 $551,359 $1,691 205 2/1 720 $499 $938,786 $1,304 503 0/1 326 $346 $559,161 $1,715 213 2/1 743 $499 $953,883 $1,284 604 0/1 326 $346 $579,942 $1,779 601 2/1 701 $499 $959,731 $1,369 409 0/1 366 $346 $588,889 $1,609 405 2/1 720 $499 $966,092 $1,342 507 0/1 371 $346 $590,131 $1,591 313 2/1 743 $499 $967,510 $1,302 510 0/1 347 $346 $590,411 $1,701 614 2/1 708 $499 $987,091 $1,394 407 0/1 371 $346 $590,597 $1,592 413 2/1 743 $499 $997,708 $1,343 509 0/1 366 $346 $605,562 $1,655 411 2/1 714 $499 $1,019,251 $1,428 408 Jr. 1/1 485 $385 $699,000 $1,441 302 2/1 779 $499 $1,021,665 $1,312 608 Jr. 1/1 485 $385 $748,888 $1,544 505 2/1 720 $499 $1,024,063 $1,422

UNIT MIX

Unit Type Number of Units Size Range Studios/Jr. 1 35 326 - 485 SqFt One-bedroom 6 404 - 559 SqFt Two-bedroom 28 701 - 779 SqFt

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DEVELOPMENT SNAPSHOT Currently Selling

450 HAYES 450 Hayes Street at Octavia | Hayes Valley Status: 3 market-rate units available/33 market-rate units in-contract, Approximate absorption: 8 units/ month, Average $/SqFt (sample listings): $1,612 Project specs: 4-stories, 41 units, 5 BMRs, 20 parking spaces, HOA fee: $721 - $986 Date on market: January 2016 Closings anticipated: June 2016 Developer: DDG & DM Development Architect: Handel Architects & Marta Fry Landscape Features & Finishes: Siematic cabinetry, Quartz counter tops, Hansgrohe fixtures, Integrated Liebherr refrigerator, Bosch appliances, Wide-plank (7.5”) oak flooring, Americh bathtubs, Specstone chevron tile floors in bathrooms Amenities: Courtyard, Virtual Doorman, Roof terrace Website: 450Hayes.com

SAMPLE LISTINGS

Unit Number Type SqFt Parking List Price $/SqFt 3C 1/1 614 0 $872,900 $1,422 2D 1/1 620 0 $835,000 $1,347 PH7 3/2.5 1,463 1 $2,800,000 $1,914 PH8 2/2 1,239 1 $2,095,000 $1,691 PH4 2/2 1,047 1 $1,750,000 $1,671 3B 1/1 622 0 $890,000 $1,431 PH3 2/2 1,034 1 $1,775,000 $1,717 2F 1/1 730 0 $995,000 $1,363 PH5 2/2 1,135 1 $1,995,000 $1,758

UNIT MIX

Unit Type Number of Units One-bedroom 24 Two-bedroom 16 Three-bedroom 1

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DEVELOPMENT SNAPSHOT Currently Selling

THE DISTRICT 2655 Bush St at Divisadero | Lower Pac Heights Status: 54 units available/27 in-contract, Approximate absorption: 5 units/month, Average $/SqFt (sample listings): $1,293 Project specs: 81 units, 0 BMRs, 6-stories, 86 parking spaces, 4,500 SqFt retail, HOA fees: $650-850 Date on market: January 2016 Closings anticipated: June - August 2016 Developer: KB Signature Architect: KTGY Features & Finishes: Barbosa cabinetry, Caesarstone counter tops with Emser glass tile backsplash, Ther- mador refrigerators, Bosch 30” gas cook tops, Bosch 30” ovens, Bosch Ascenta dishwashers, Bosch Axxis stacked washer & dryers, Provenza engineered hard- wood floors, Shaw Anso carpet in bedrooms, Emser porcelain tile in bathrooms, Moen faucets, Marble and limestone floors in penthouse units Amenities: Lounge, Full-time lobby attendant, Roof terrace with BBQ & fireplace, Fitness center, Court- yard, Pet grooming station Website: SFTheDistrict.com Sales Center: 2505 Bush Street

SAMPLE LISTINGS

Unit Type* SqFt List Price $/SqFt Unit Type* SqFt List Price $/SqFt 216 1/1 713 $859,000 $1,205 321 2/2 1,080 $1,382,325 $1,280 108 1/1 660 $899,000 $1,362 429 2/2 1,046 $1,399,000 $1,337 316 1/1 713 $899,000 $1,261 407 2/2 1,038 $1,429,120 $1,377 416 1/1 713 $937,000 $1,314 203 2/2 1,164 $1,442,400 $1,239 309 1/1 746 $1,025,025 $1,374 205 2/2 1,164 $1,450,000 $1,246 117 1/1 + Den 793 $899,000 $1,134 328 2/2 1,075 $1,456,675 $1,355 119 1/1 + Den 793 $929,000 $1,172 303 2/2 1,164 $1,505,200 $1,293 121 1/1 + Den 793 $929,000 $1,172 417 2/2 1,080 $1,507,520 $1,396 210 1/1 + Den 824 $999,000 $1,212 421 2/2 1,080 $1,507,520 $1,396 310 1/1 + Den 824 $1,049,000 $1,273 428 2/2 1,075 $1,516,540 $1,411 410 1/1 + Den 824 $1,099,000 $1,334 305 2/2 1,164 $1,518,200 $1,304 111 1/1 + Den 980 $1,125,000 $1,148 311 2/2 1,233 $1,550,000 $1,257 115 1/1 + Den 980 $1,125,000 $1,148 411 2/2 1,233 $1,572,040 $1,275 225 2/2 899 $1,099,000 $1,222 403 2/2 1,164 $1,608,600 $1,382 127 2/2 974 $1,125,000 $1,155 405 2/2 1,164 $1,608,600 $1,382 227 2/2 974 $1,189,000 $1,221 106 2/2 1,259 $1,609,725 $1,279 129 2/2 1,046 $1,229,000 $1,175 206 2/2 1,311 $1,687,400 $1,287 207 2/2 1,015 $1,250,400 $1,232 306 2/2 1,311 $1,751,900 $1,336 327 2/2 974 $1,259,000 $1,293 131 2/2 + Den 1,115 $1,349,000 $1,210 128 2/2 1,024 $1,289,000 $1,259 231 2/2 + Den 1,115 $1,375,000 $1,233 229 2/2 1,046 $1,289,000 $1,232 331 2/2 + Den 1,115 $1,449,000 $1,300 314 2/2 971 $1,319,850 $1,359 230 2/2 + Den 1,149 $1,475,000 $1,284 325 2/2 1,010 $1,329,000 $1,316 431 2/2 + Den 1,115 $1,505,000 $1,350 427 2/2 974 $1,329,000 $1,364 330 2/2 + Den 1,149 $1,535,075 $1,336 329 2/2 1,046 $1,339,000 $1,280 430 2/2 + Den 1,149 $1,599,000 $1,392 307 2/2 1,038 $1,345,100 $1,296 201 2/2 + Den 1,600 $2,039,800 $1,275 414 2/2 971 $1,355,560 $1,396 301 2/2 + Den 1,600 $2,167,300 $1,355 317 2/2 1,080 $1,372,525 $1,271 401 2/2 + Den 1,600 $2,265,000 $1,416 *One-to-one-unit parking ratio

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DEVELOPMENT SNAPSHOT Currently Selling

1001 SEVENTEENTH 1001 17th Street at Pennsylvania | Potrero Hill Status: 3 market-rate units available/1 unit in-con- tract/12 units closed Average $/SqFt (closings): $1,162 Project specs: 26 units, 4-stories, 9 parking spaces, 5 BMRs, HOA: $408 - $572 Date on market: November 2015 Developer: 1001 17th Street Associates Architect: Jonathan Pearlman - Elevation Architects Features & Finishes: Bosch kitchen appliances, Gro- he and Hansgrohe faucets, Duravit sinks and soaking tubs, American wide-plank oak floors with radiant heat, Miranda Woodworks cabinetry, Cat5 wiring, Webpass Internet, Flos and Sonneman lighting fix- tures, Italian Porcelain, PentalQuartz counter tops, Fresh-air ventilation Amenities: Bicycle parking, Courtyard, Video intercom Website: 1001PH.com Phone: 415-321-7077

CLOSING DETAILS

Unit Number Type SqFt HOA $ Parking Closing Price $/SqFt Closing Date 206 0/1 490 $408 0 $599,000 $1,222 2/23/16 201 1/1 591 $422 0 $740,000 $1,252 1/27/16 203 1/1 544 $422 0 $680,000 $1,250 3/11/16 205 1/1 523 $416 0 $649,000 $1,241 2/12/16 301 1/1 639 $446 0 $730,000 $1,142 2/12/16 302 1/1 535 $420 0 $699,000 $1,307 3/31/16 401 1/1 645 $447 0 $775,000 $1,202 2/17/16 404 1/1 528 $419 0 $660,000 $1,250 3/29/16 308 2/2 925 $504 1 $1,010,000 $1,092 5/18/16 204 2/2 1,025 $542 1 $1,095,000 $1,068 2/3/16 304 2/2 1,025 $542 1 $1,115,000 $1,088 1/29/16 307 2/2 1,059 $551 1 $1,160,000 $1,095 3/9/16

SUMMARY

# Of Average Unit Type Sales SqFt HOA $ SqFt Range Average $ $ Range $/SqFt Studio/Jr. One 1 490 $408 490 $599,000 $599,000 $1,222 One-Bedroom 7 572 $427 523 - 645 $704,714 $649,000 - $775,000 $1,232 Two-Bedroom 4 1,009 $535 925 - 1,059 $1,095,000 $949,000 - $1,160,000 $1,086 All Types 12 711 $462 490 - 1,059 $826,000 $599,000 - $1,160,000 $1,162

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DEVELOPMENT SNAPSHOT Currently Selling

LUMINA

201 Folsom Street at Beale | South Beach Status: 348 closed, Approximate absorption: 25 units/ month, Average $/SqFt (closings): $1,367 Project info: 656 units, one 42-story tower, one 37-story tower, two 8-story podiums Developer: Tishman Speyer (China Vanke – equity partner) Architect: Arquitectonica (towers) and Heller Manus (podi- ums/”Plazas”) Date on market: September 2014 Closings: Plaza A - August 2015, Plaza C - October 2015, Tower D - December 2015, Tower B - June 2016 Amenities: 10,500 SqFt rooftop with vegetable garden/din- ing/fire pits/movie screening, 7,000 SqFt fitness center with yoga studio/aerobics room/20-foot climbing wall, lounge with fireplace/bar, private dining room with chef’s kitchen/ prep kitchen/fireplace/outdoor terrace, screening room with tiered seating for thirty/surround sound, 75-foot lap pool, library with WIFI, 2,000 SqFt spa with treatment room/day lockers/steam room/sauna, children’s room, music practice room, pet grooming station, on-site gourmet grocer, Audi At-Home, Scoot electric scooters Features & Finishes: 9’ to 10’10” ceilings, Bay views, Gag- genau ovens/cook tops, Bosch refrigerators/dishwashers, Caesarstone quartz counter tops/backsplash, SieMatic cab- inetry, marble vanity counter tops, porcelain tile bathroom floors/shower walls, Nest Thermostats Website: LuminaSF.com Sales office:289 Main Street

UNIT MIX

Number of Unit Type Units Size Range Studio/Jr. 1-Bedroom 16 650 - 870 SqFt 1 - Bedroom 200 850 - 1,400 SqFt 2 - Bedroom 373 1,180 - 1,600 SqFt 3 - Bedroom 67 1,700 - 2,650 SqFt Penthouse (options) - 3,770 - 15,000 SqFt LUMINA CLOSINGS ON FOLLOWING PAGES...

PG.15 SAN FRANCISCO RESIDENTIAL DEVELOPMENT JUNE 2016 CLICK TO RETURN TO THE NAVIGATION PAGE DEVELOPMENT SNAPSHOT Currently Selling CLOSING DETAILS - LUMINA PLAZA A

Unit Type SqFt HOA $* Parking Closing Price $/SqFt Sale Date 318 Main 7K 2/2 1,520 $1,140 1 $1,978,000 $1,301 1/14/2016 318 Main 8I 1/1.5 938 $987 1 $1,375,000 $1,466 12/15/2015 318 Main 8F 3/3 1,797 $1,537 1 $3,295,000 $1,834 11/19/2015 318 Main 2A 2/2 1,418 $1,182 1 $1,495,000 $1,054 8/17/2015 318 Main 2B 1/1.5 1,044 $997 1 $1,064,500 $1,020 8/17/2015 318 Main 2D 1/2 1,098 $1,024 1 $1,175,000 $1,070 8/17/2015 318 Main 2E 3/3 1,973 $1,457 1 $2,395,000 $1,214 8/17/2015 318 Main 3B 2/2 1,398 $1,172 1 $1,595,000 $1,141 8/17/2015 318 Main 3D 1/2 1,104 $1,027 1 $1,225,000 $1,110 8/17/2015 318 Main 3E 1/2 1,098 $1,024 1 $1,312,000 $1,195 8/17/2015 318 Main 3F 3/3 1,979 $1,459 1 $2,400,500 $1,213 8/17/2015 318 Main 3G 1/2 1,087 $1,019 1 $1,032,500 $950 8/17/2015 318 Main 3H 2/2 1,434 $1,190 1 $1,775,000 $1,238 8/17/2015 318 Main 3I 1/1.5 1,000 $976 1 $1,164,000 $1,164 8/17/2015 318 Main 3J 1/1.5 + Den 882 $917 1 $1,101,000 $1,248 8/17/2015 318 Main 3K 2/2 1,520 $1,233 1 $1,925,000 $1,266 8/17/2015 318 Main 4A 0/1 665 $810 1 $726,000 $1,092 8/17/2015 318 Main 4B 2/2 1,398 $1,172 1 $1,632,500 $1,168 8/17/2015 318 Main 4C 1/1.5 1,044 $997 1 $1,055,000 $1,011 8/17/2015 318 Main 4D 1/2 1,104 $1,027 1 $1,179,000 $1,068 8/17/2015 318 Main 4E 1/2 1,098 $1,024 1 $1,152,000 $1,049 8/17/2015 318 Main 4F 3/3 1,979 $1,460 1 $2,431,000 $1,228 8/17/2015 318 Main 4G 1/2 1,087 $1,019 1 $1,051,000 $967 8/17/2015 318 Main 4H 2/2 1,434 $1,190 1 $1,595,000 $1,112 8/17/2015 318 Main 4I 1/1.5 1,000 $976 1 $975,000 $975 8/17/2015 318 Main 4J 1/1.5 882 $917 1 $889,000 $1,008 8/17/2015 318 Main 4K 2/2 1,520 $1,233 1 $1,550,000 $1,020 8/17/2015 318 Main 5A 0/1 665 $810 1 $733,000 $1,102 8/17/2015 318 Main 5B 2/2 1,398 $1,172 1 $1,600,500 $1,145 8/17/2015 318 Main 5C 1/1.5 1,044 $997 1 $1,218,500 $1,167 8/17/2015 318 Main 5D 1/2 1,104 $1,027 1 $1,168,000 $1,058 8/17/2015 318 Main 5E 1/2 1,098 $1,024 1 $1,220,000 $1,111 8/17/2015 318 Main 5F 3/3 1,979 $1,460 1 $2,531,000 $1,279 8/17/2015 318 Main 5G 1/2 1,087 $1,019 1 $1,076,000 $990 8/17/2015 318 Main 5H 2/2 1,434 $1,190 1 $1,467,500 $1,023 8/17/2015 318 Main 5I 1/1.5 1,000 $976 1 $965,500 $966 8/17/2015 318 Main 5J 1/1.5 882 $917 1 $925,000 $1,049 8/17/2015 318 Main 5K 2/2 1,520 $1,233 1 $1,756,500 $1,156 8/17/2015 318 Main 6B 2/2 1,398 $1,172 1 $1,654,000 $1,183 8/17/2015 318 Main 6C 1/1.5 1,044 $997 1 $1,177,500 $1,128 8/17/2015 318 Main 6D 1/2 1,104 $1,027 1 $1,222,500 $1,107 8/17/2015 318 Main 6E 1/2 1,098 $1,024 1 $1,200,000 $1,093 8/17/2015 318 Main 6F 3/3 1,979 $1,460 1 $2,700,000 $1,364 8/17/2015 318 Main 6G 1/2 1,087 $1,019 1 $1,125,000 $1,035 8/17/2015 318 Main 6H 2/2 1,434 $1,190 1 $1,575,000 $1,098 8/17/2015 318 Main 6I 1/1.5 1,000 $976 1 $1,050,000 $1,050 8/17/2015 318 Main 6J 1/1.5 882 $917 1 $908,500 $1,030 8/17/2015 318 Main 6K 2/2 1,520 $1,233 1 $1,590,000 $1,046 8/17/2015 318 Main 7A 0/1 665 $949 1 $860,500 $1,294 8/17/2015 318 Main 7B 2/2 1,205 $1,077 1 $1,625,000 $1,349 8/17/2015 318 Main 7C 1/1.5 + Den 883 $917 1 $1,195,000 $1,353 8/17/2015 318 Main 7D 1/2 947 $950 1 $1,275,000 $1,346 8/17/2015 318 Main 7E 1/1.5 + Den 941 $1,005 1 $1,250,000 $1,328 8/17/2015 318 Main 7F 3/3 1,797 $1,369 1 $2,675,000 $1,489 8/17/2015 318 Main 7G 1/1 + Den 852 $902 1 $1,150,000 $1,350 8/17/2015 318 Main 7H 2/2 1,286 $1,117 1 $1,655,100 $1,287 8/17/2015 318 Main 7J 1/1.5 882 $918 1 $1,095,000 $1,241 8/17/2015 318 Main 8A 0/1 665 $810 1 $847,000 $1,274 8/17/2015 318 Main 8B 2/2 1,205 $1,077 1 $1,795,100 $1,490 8/17/2015 318 Main 8D 1/2 947 $949 1 $1,475,000 $1,558 8/17/2015 318 Main 8E 1/1.5 1,005 $1,005 1 $1,277,000 $1,271 8/17/2015 318 Main 8H 2/2 1,286 $1,117 1 $1,825,000 $1,419 8/17/2015 318 Main 8K 2/2 1,520 $1,123 1 $1,730,000 $1,138 8/17/2015 63 Closings Averages: 1,212 $1,446,614 $1,194

*HOA dues are approximate. LUMINA CLOSINGS CONTINUED ON FOLLOWING PAGE...

PG.16 SAN FRANCISCO RESIDENTIAL DEVELOPMENT JUNE 2016 CLICK TO RETURN TO THE NAVIGATION PAGE DEVELOPMENT SNAPSHOT Currently Selling CLOSING DETAILS - LUMINA PLAZA C

Unit Type SqFt HOA $* Parking Closing Price $/SqFt Sale Date 333 Beale 3F 0/1 920 $978 1 $900,000 $978 10/23/15 333 Beale 4F 0/1 920 $978 1 $920,500 $1,001 10/23/15 333 Beale 6F 0/1 920 $978 1 $960,000 $1,043 10/23/15 333 Beale 5F 0/1 920 $978 1 $976,000 $1,061 10/23/15 333 Beale 7F 0/1 920 $978 1 $997,000 $1,084 10/23/15 333 Beale 8F 0/1 920 $978 1 $1,195,000 $1,299 10/23/15 333 Beale 2D 0/1 972 $998 1 $985,000 $1,013 10/23/15 333 Beale 4A 1/1 873 $977 1 $995,000 $1,140 10/23/15 333 Beale 5A 1/1 873 $961 1 $1,049,000 $1,202 10/23/15 333 Beale 6A 1/1 873 $992 1 $1,088,000 $1,246 10/23/15 333 Beale 7A 1/1 873 $962 1 $1,095,000 $1,254 10/23/15 333 Beale 2C 1/1 + Den 927 $1,000 1 $1,095,000 $1,181 10/23/15 333 Beale 4C 1/1.5 + Den 916 $977 1 $1,140,000 $1,245 10/23/15 333 Beale 6C 1/1.5 + Den 916 $977 1 $1,195,000 $1,305 10/23/15 333 Beale 5C 1/1.5 + Den 916 $977 1 $1,252,000 $1,367 10/23/15 333 Beale 3C 1/1.5 + Den 916 $977 1 $1,297,000 $1,416 10/23/15 333 Beale 7C 1/1.5 + Den 916 $977 1 $1,325,100 $1,447 10/23/15 333 Beale 8J 1/2 1,004 $1,010 1 $1,570,000 $1,564 10/23/15 333 Beale 4D 1/2 1,033 $1,021 1 $1,195,000 $1,157 10/23/15 333 Beale 3D 1/2 1,033 $1,021 1 $1,350,000 $1,307 10/23/15 333 Beale 4H 1/2 1,110 $1,050 1 $1,395,000 $1,257 10/23/15 333 Beale 3I 1/2 1,114 $1,052 1 $1,275,000 $1,145 10/23/15 333 Beale 3J 1/2 1,119 $1,054 1 $1,295,000 $1,157 10/23/15 333 Beale 7I 1/2 + Den 988 $1,004 1 $1,395,000 $1,412 10/23/15 333 Beale 7J 1/2 + Den 993 $1,006 1 $1,395,000 $1,405 10/23/15 333 Beale 2G 1/2 + Den 1,013 $1,020 1 $1,295,000 $1,278 12/29/15 333 Beale 5D 1/2 + Den 1,033 $1,021 1 $1,269,000 $1,228 10/23/15 333 Beale 7D 1/2 + Den 1,033 $1,021 1 $1,275,000 $1,234 10/23/15 333 Beale 6D 1/2 + Den 1,033 $1,021 1 $1,285,000 $1,244 10/23/15 333 Beale 3H 1/2 + Den 1,110 $1,050 1 $1,295,500 $1,167 10/23/15 333 Beale 5H 1/2 + Den 1,110 $1,050 1 $1,395,000 $1,257 10/23/15 333 Beale 4I 1/2 + Den 1,114 $1,052 1 $1,314,000 $1,180 10/23/15 333 Beale 4J 1/2 + Den 1,119 $1,054 1 $1,295,000 $1,157 10/23/15 333 Beale 5J 1/2 + Den 1,119 $1,054 1 $1,325,000 $1,184 10/23/15 333 Beale 6J 1/2 + Den 1,119 $1,054 1 $1,495,000 $1,336 10/23/15 333 Beale 5I 1/2 + Den 1,131 $1,044 1 $1,354,500 $1,198 10/23/15 333 Beale 6I 1/2 + Den 1,131 $1,042 1 $1,425,000 $1,260 10/23/15 333 Beale 2F 1/2 + Den 1,138 $1,045 1 $1,197,500 $1,052 10/23/15 333 Beale 4B 2/2 1,198 $1,083 1 $1,450,000 $1,210 10/23/15 333 Beale 5B 2/2 1,198 $1,083 1 $1,543,500 $1,288 10/23/15 333 Beale 7B 2/2 1,198 $1,083 1 $1,595,000 $1,331 10/23/15 333 Beale 3B 2/2 1,198 $1,083 1 $1,656,500 $1,383 10/23/15 333 Beale 8B 2/2 1,198 $1,083 1 $1,795,000 $1,498 10/23/15 333 Beale 6B 2/2 1,210 $1,060 1 $1,550,000 $1,281 10/23/15 333 Beale 4G 2/2 1,553 $1,218 1 $1,745,000 $1,124 10/23/15 333 Beale 3G 2/2 1,553 $1,218 1 $1,775,000 $1,143 10/23/15 333 Beale 4E 2/2 1,630 $1,247 1 $1,644,500 $1,009 10/23/15 333 Beale 3E 2/2 1,630 $1,247 1 $1,850,000 $1,135 10/23/15 333 Beale 7K 2/2 + Den 1,334 $1,135 1 $2,150,000 $1,612 10/23/15 333 Beale 8K 2/2 + Den 1,404 $1,100 1 $2,250,000 $1,603 10/23/15 333 Beale 7G 2/2 + Den 1,427 $1,116 1 $1,887,000 $1,322 10/23/15 333 Beale 5K 2/2 + Den 1,487 $1,193 1 $1,595,000 $1,073 10/23/15 333 Beale 6K 2/2 + Den 1,487 $1,193 1 $1,595,000 $1,073 10/23/15 333 Beale 4K 2/2 + Den 1,487 $1,193 1 $1,677,000 $1,128 10/23/15 333 Beale 3K 2/2 + Den 1,487 $1,193 1 $1,895,000 $1,274 10/23/15 333 Beale 2E 2/2 + Den 1,553 $1,218 1 $1,595,000 $1,027 10/23/15 333 Beale 5G 2/2 + Den 1,553 $1,218 1 $1,770,000 $1,140 10/23/15 333 Beale 6G 2/2 + Den 1,553 $1,218 1 $1,795,000 $1,156 10/23/15 333 Beale 5E 2/2 + Den 1,630 $1,247 1 $1,617,500 $992 10/23/15 333 Beale 6E 2/2 + Den 1,630 $1,247 1 $1,750,000 $1,074 10/23/15 333 Beale 7E 2/2 + Den 1,630 $1,247 1 $1,795,000 $1,101 10/23/15 333 Beale 8E 2/2 + Den 1,630 $1,247 1 $2,331,000 $1,430 10/23/15 62 Closings Averages: 1,177 $1,433,260 $1,218

*HOA dues are approximate. LUMINA CLOSINGS CONTINUED ON FOLLOWING PAGE...

PG.17 SAN FRANCISCO RESIDENTIAL DEVELOPMENT JUNE 2016 CLICK TO RETURN TO THE NAVIGATION PAGE DEVELOPMENT SNAPSHOT Currently Selling CLOSING DETAILS - LUMINA TOWER D

Unit Type SqFt HOA $* Parking Closing Price $/SqFt Sale Date 338 Main 7D 1/1 880 $979 1 $880,000 $1,000 12/21/15 338 Main 7H 1/1 854 $972 1 $895,000 $1,048.01 12/21/15 338 Main 6H 1/1 854 $972 1 $895,000 $1,048 12/21/15 338 Main 10D 1/1 880 $979 1 $911,500 $1,036 12/21/15 338 Main 5D 1/1 880 $979 1 $925,000 $1,051 12/21/15 338 Main 4D 1/1 880 $979 1 $952,000 $1,082 12/21/15 338 Main 11D 1/1 880 $979 1 $956,000 $1,086 12/21/15 338 Main 10H 1/1 854 $972 1 $970,000 $1,136 12/21/15 338 Main 4H 1/1 854 $972 1 $975,000 $1,142 12/21/15 338 Main 12D 1/1 880 $979 1 $989,000 $1,124 12/21/15 338 Main 14D 1/1 880 $979 1 $990,000 $1,125 12/21/15 338 Main 6D 1/1 880 $979 1 $995,000 $1,131 12/21/15 338 Main 8D 1/1 880 $979 1 $995,100 $1,131 12/21/15 338 Main 15D 1/1 880 $979 1 $1,014,000 $1,152 12/21/15 338 Main 5H 1/1 854 $972 1 $1,014,000 $1,187 12/21/15 338 Main 8H 1/1 854 $972 1 $1,049,000 $1,228 12/21/15 338 Main 12H 1/1 854 $972 1 $1,069,000 $1,252 12/21/15 338 Main 16D 1/1 880 $979 1 $1,075,000 $1,222 12/21/15 338 Main 16H 1/1 854 $972 1 $1,085,000 $1,270 12/21/15 338 Main 9D 1/1 880 $979 1 $1,095,000 $1,244 12/21/15 338 Main 18H 1/1 854 $972 1 $1,102,500 $1,291 12/21/15 338 Main 17D 1/1 880 $979 1 $1,112,000 $1,264 12/21/15 338 Main 28D 1/1 975 $1,003 1 $1,150,000 $1,179 12/21/15 338 Main 14H 1/1 854 $972 1 $1,150,000 $1,347 12/21/15 338 Main 21H 1/1 854 $972 1 $1,150,000 $1,347 12/21/15 338 Main 18D 1/1 880 $979 1 $1,155,500 $1,313 12/21/15 338 Main 22H 1/1 854 $972 1 $1,170,500 $1,371 12/21/15 338 Main 9H 1/1 854 $972 1 $1,175,000 $1,376 12/21/15 338 Main 23H 1/1 854 $972 1 $1,179,500 $1,381 12/21/15 338 Main 22D 1/1 880 $979 1 $1,193,000 $1,356 12/21/15 338 Main 23D 1/1 880 $979 1 $1,194,000 $1,357 12/21/15 338 Main 11H 1/1 854 $972 1 $1,195,000 $1,399 12/21/15 338 Main 3H 1/1 854 $972 1 $1,195,000 $1,399 12/21/15 338 Main 24H 1/1 854 $972 1 $1,325,000 $1,552 12/21/15 338 Main 19H 1/1 854 $972 1 $1,350,000 $1,581 12/21/15 338 Main 20H 1/1 854 $972 1 $1,375,000 $1,610 12/21/15 338 Main 25H 1/1 854 $972 1 $1,495,000 $1,751 12/21/15 338 Main 19D 1/1 880 $979 1 $1,595,000 $1,813 12/21/15 338 Main 20D 1/1 880 $979 1 $1,595,000 $1,813 12/21/15 338 Main 24D 1/1 880 $979 1 $1,750,000 $1,989 12/21/15 338 Main 29D 1/1 + Den 975 $1,003 1 $1,514,000 $1,553 12/21/15 338 Main 27D 1/1 + Den 975 $1,003 1 $1,525,000 $1,564 12/21/15 338 Main 33D 1/1 + Den 975 $1,003 1 $1,574,000 $1,614 12/21/15 338 Main 6F 2/2 1,187 $1,056 1 $1,245,000 $1,049 12/21/15 338 Main 7F 2/2 1,187 $1,056 1 $1,245,000 $1,049 12/21/15 338 Main 7B 2/2 1,187 $1,056 1 $1,295,000 $1,091 12/21/15 338 Main 5F 2/2 1,187 $1,056 1 $1,295,000 $1,091 12/21/15 338 Main 4F 2/2 1,187 $1,056 1 $1,315,000 $1,108 12/21/15 338 Main 5B 2/2 1,187 $1,056 1 $1,325,000 $1,116 12/21/15 338 Main 10F 2/2 1,187 $1,056 1 $1,329,000 $1,120 12/21/15 338 Main 4B 2/2 1,178 $1,051 1 $1,345,000 $1,142 12/21/15 338 Main 7E 2/2 1,368 $1,101 1 $1,395,000 $1,020 12/21/15 338 Main 6B 2/2 1,178 $1,051 1 $1,395,000 $1,184 12/21/15 338 Main 16F 2/2 1,187 $1,056 1 $1,405,000 $1,184 12/21/15 338 Main 10B 2/2 1,187 $1,056 1 $1,414,500 $1,192 12/21/15 338 Main 8F 2/2 1,187 $1,056 1 $1,424,000 $1,200 12/21/15 338 Main 4E 2/2 1,368 $1,101 1 $1,425,000 $1,042 12/21/15 338 Main 11B 2/2 1,187 $1,056 1 $1,431,000 $1,206 12/21/15 338 Main 18F 2/2 1,187 $1,056 1 $1,435,000 $1,209 12/21/15 338 Main 5E 2/2 1,368 $1,101 1 $1,459,000 $1,067 12/21/15 338 Main 3B 2/2 1,178 $1,051 1 $1,475,000 $1,252 12/21/15 338 Main 22F 2/2 1,187 $1,056 1 $1,485,000 $1,251 12/21/15 338 Main 23F 2/2 1,187 $1,056 1 $1,485,000 $1,251 12/21/15 338 Main 12B 2/2 1,187 $1,056 1 $1,487,000 $1,253 12/21/15 338 Main 5G 2/2 1,401 $1,107 1 $1,495,000 $1,067 12/21/15 338 Main 6C 2/2 1,400 $1,109 1 $1,495,000 $1,068 12/21/15 338 Main 7C 2/2 1,400 $1,109 1 $1,495,000 $1,068 12/21/15 338 Main 8E 2/2 1,368 $1,101 1 $1,495,000 $1,093 12/21/15 338 Main 9F 2/2 1,187 $1,056 1 $1,495,000 $1,259 12/21/15 338 Main 14F 2/2 1,187 $1,056 1 $1,495,000 $1,259 12/21/15 *HOA dues are approximate. LUMINA TOWER D CLOSINGS CONTINUED ON FOLLOWING PAGE...

PG.18 SAN FRANCISCO RESIDENTIAL DEVELOPMENT JUNE 2016 CLICK TO RETURN TO THE NAVIGATION PAGE DEVELOPMENT SNAPSHOT Currently Selling CLOSING DETAILS - LUMINA TOWER D (CONTINUED)

Unit Type SqFt HOA $* Parking Closing Price $/SqFt Sale Date 338 Main 21F 2/2 1,187 $1,056 1 $1,515,000 $1,276 12/21/15 338 Main 4G 2/2 1,401 $1,107 1 $1,525,000 $1,089 12/21/15 338 Main 7G 2/2 1,398 $1,109 1 $1,530,000 $1,094 12/21/15 338 Main 5A 2/2 1,367 $1,101 1 $1,535,500 $1,123 12/21/15 338 Main 16B 2/2 1,187 $1,056 1 $1,540,000 $1,297 12/21/15 338 Main 11F 2/2 1,187 $1,056 1 $1,545,000 $1,302 12/21/15 338 Main 17B 2/2 1,187 $1,056 1 $1,550,000 $1,306 12/21/15 338 Main 4A 2/2 1,367 $1,101 1 $1,560,500 $1,142 12/21/15 338 Main 4C 2/2 1,400 $1,109 1 $1,575,000 $1,125 12/21/15 338 Main 8B 2/2 1,187 $1,056 1 $1,575,000 $1,327 12/21/15 338 Main 5C 2/2 1,400 $1,109 1 $1,577,100 $1,127 12/21/15 338 Main 8G 2/2 1,398 $1,109 1 $1,585,000 $1,134 12/21/15 338 Main 6A 2/2 1,367 $1,101 1 $1,592,500 $1,165 12/21/15 338 Main 9G 2/2 1,398 $1,109 1 $1,595,000 $1,141 12/21/15 338 Main 10E 2/2 1,368 $1,101 1 $1,595,000 $1,166 12/21/15 338 Main 6E 2/2 1,368 $1,101 1 $1,595,000 $1,166 12/21/15 338 Main 9B 2/2 1,187 $1,056 1 $1,595,100 $1,344 12/21/15 338 Main 11E 2/2 1,368 $1,101 1 $1,625,000 $1,188 12/21/15 338 Main 8A 2/2 1,367 $1,101 1 $1,625,000 $1,189 12/21/15 338 Main 12F 2/2 1,187 $1,056 1 $1,625,000 $1,369 12/21/15 338 Main 7A 2/2 1,367 $1,101 1 $1,650,000 $1,207 12/21/15 338 Main 6G 2/2 1,398 $1,109 1 $1,657,500 $1,186 12/21/15 338 Main 3A 2/2 1,379 $1,102 1 $1,675,000 $1,215 12/21/15 338 Main 21B 2/2 1,187 $1,056 1 $1,681,000 $1,416 12/21/15 338 Main 9A 2/2 1,367 $1,101 1 $1,695,000 $1,240 12/21/15 338 Main 20F 2/2 1,187 $1,056 1 $1,695,000 $1,428 12/21/15 338 Main 3E 2/2 1,368 $1,101 1 $1,695,000 $1,239 12/21/15 338 Main 22B 2/2 1,187 $1,056 1 $1,701,000 $1,433 12/21/15 338 Main 11G 2/2 1,398 $1,109 1 $1,725,000 $1,234 12/21/15 338 Main 14G 2/2 1,398 $1,109 1 $1,725,000 $1,234 12/21/15 338 Main 23B 2/2 1,187 $1,056 1 $1,725,000 $1,453 12/21/15 338 Main 8C 2/2 1,400 $1,109 1 $1,745,000 $1,246 12/21/15 338 Main 9C 2/2 1,400 $1,109 1 $1,750,000 $1,250 12/21/15 338 Main 3G 2/2 1,398 $1,109 1 $1,750,000 $1,252 12/21/15 338 Main 25F 2/2 1,187 $1,056 1 $1,755,000 $1,479 12/21/15 338 Main 11A 2/2 1,367 $1,101 1 $1,770,000 $1,295 12/21/15 338 Main 10G 2/2 1,398 $1,109 1 $1,780,100 $1,273 12/21/15 338 Main 24F 2/2 1,187 $1,056 1 $1,781,500 $1,501 12/21/15 338 Main 12G 2/2 1,398 $1,109 1 $1,795,000 $1,284 12/21/15 338 Main 10A 2/2 1,367 $1,101 1 $1,795,000 $1,313 12/21/15 338 Main 12A 2/2 1,367 $1,101 1 $1,807,500 $1,322 12/21/15 338 Main 17G 2/2 1,398 $1,109 1 $1,825,000 $1,305 12/21/15 338 Main 11C 2/2 1,400 $1,109 1 $1,850,000 $1,321 12/21/15 338 Main 14B 2/2 1,187 $1,056 1 $1,850,100 $1,559 12/21/15 338 Main 19G 2/2 1,398 $1,109 1 $1,895,000 $1,356 12/21/15 338 Main 21G 2/2 1,398 $1,109 1 $1,895,000 $1,356 12/21/15 338 Main 14A 2/2 1,367 $1,101 1 $1,900,000 $1,390 12/21/15 338 Main 16G 2/2 1,398 $1,109 1 $1,925,000 $1,377 12/21/15 338 Main 23G 2/2 1,398 $1,109 1 $1,945,000 $1,391 12/21/15 338 Main 18A 2/2 1,367 $1,101 1 $1,945,000 $1,423 12/21/15 338 Main 16E 2/2 1,368 $1,101 1 $1,955,000 $1,429 12/21/15 338 Main 18G 2/2 1,398 $1,109 1 $1,966,000 $1,406 12/21/15 338 Main 24G 2/2 1,398 $1,109 1 $1,975,000 $1,413 12/21/15 338 Main 20G 2/2 1,398 $1,109 1 $1,995,000 $1,427 12/21/15 338 Main 22G 2/2 1,398 $1,109 1 $1,995,000 $1,427 12/21/15 338 Main 10C 2/2 1,400 $1,109 1 $1,995,000 $1,425 12/21/15 338 Main 15A 2/2 1,367 $1,101 1 $2,015,000 $1,474 12/21/15 338 Main 16A 2/2 1,367 $1,101 1 $2,025,000 $1,481 12/21/15 338 Main 19B 2/2 1,187 $1,056 1 $2,075,000 $1,748 12/21/15 338 Main 21E 2/2 1,368 $1,101 1 $2,075,000 $1,517 12/21/15 338 Main 17A 2/2 1,367 $1,101 1 $2,095,000 $1,533 12/21/15 338 Main 20B 2/2 1,187 $1,056 1 $2,095,000 $1,765 12/21/15 338 Main 23E 2/2 1,368 $1,101 1 $2,096,500 $1,533 12/21/15 338 Main 17E 2/2 1,368 $1,101 1 $2,125,000 $1,553 12/21/15 338 Main 25G 2/2 1,398 $1,109 1 $2,195,000 $1,570 12/21/15 338 Main 18C 2/2 1,400 $1,109 1 $2,235,667 $1,597 12/21/15 338 Main 19A 2/2 1,367 $1,101 1 $2,273,500 $1,663 12/21/15 338 Main 22A 2/2 1,367 $1,101 1 $2,275,000 $1,664 12/21/15 338 Main 19E 2/2 1,368 $1,101 1 $2,295,000 $1,678 12/21/15 338 Main 19E 2/2 1,368 $1,101 1 $2,295,000 $1,678 12/21/15 338 Main 19C 2/2 1,400 $1,109 1 $2,316,000 $1,654 12/21/15 338 Main 16C 2/2 1,400 $1,109 1 $2,335,000 $1,668 12/21/15 *HOA dues are approximate. LUMINA TOWER D CLOSINGS CONTINUED ON FOLLOWING PAGE...

PG.19 SAN FRANCISCO RESIDENTIAL DEVELOPMENT JUNE 2016 CLICK TO RETURN TO THE NAVIGATION PAGE DEVELOPMENT SNAPSHOT Currently Selling CLOSING DETAILS - LUMINA TOWER D (CONTINUED)

Unit Type SqFt HOA $* Parking Closing Price $/SqFt Sale Date 338 Main 20A 2/2 1,367 $1,101 1 $2,395,000 $1,752 12/21/15 338 Main 20C 2/2 1,400 $1,109 1 $2,405,000 $1,718 12/21/15 338 Main 20E 2/2 1,368 $1,101 1 $2,425,000 $1,773 12/21/15 338 Main 22E 2/2 1,368 $1,101 1 $2,425,000 $1,773 12/21/15 338 Main 24E 2/2 1,368 $1,101 1 $2,425,000 $1,773 12/21/15 338 Main 23A 2/2 1,367 $1,101 1 $2,450,000 $1,792 12/21/15 338 Main 25A 2/2 1,367 $1,101 1 $2,460,000 $1,800 12/21/15 338 Main 14C 2/2 1,400 $1,109 1 $2,495,000 $1,782 12/21/15 338 Main 22C 2/2 1,400 $1,109 1 $2,501,000 $1,786 12/21/15 338 Main 23C 2/2 1,400 $1,109 1 $2,510,000 $1,793 12/21/15 338 Main 30C 2/2 1,496 $1,134 1 $2,513,000 $1,680 12/21/15 338 Main 28C 2/2 1,496 $1,134 1 $2,545,000 $1,701 12/21/15 338 Main 26A 2/2 1,559 $1,149 1 $2,595,000 $1,665 12/21/15 338 Main 28A 2/2 1,559 $1,149 1 $2,675,000 $1,716 12/21/15 338 Main 25B 2/2 1,187 $976 1 $2,695,000 $2,270 12/21/15 338 Main 29A 2/2 1,559 $1,149 1 $2,750,000 $1,764 12/21/15 338 Main 25E 2/2 1,368 $1,101 1 $2,750,000 $2,010 12/21/15 338 Main 15C 2/2 1,400 $1,109 1 $2,795,000 $1,996 12/21/15 338 Main 30A 2/2 1,559 $1,149 1 $2,795,000 $1,793 12/21/15 338 Main 32A 2/2 1,559 $1,149 1 $2,835,000 $1,818 12/21/15 338 Main 29C 2/2 1,493 $1,134 1 $2,875,000 $1,926 12/21/15 338 Main 26C 2/2 1,496 $1,134 1 $3,004,500 $2,008 12/21/15 338 Main 25C 2/2 1,400 $1,109 1 $3,300,000 $2,357 12/21/15 338 Main 27E 3/3 1,781 $1,205 1 $2,995,000 $1,682 12/21/15 338 Main 28E 3/3 1,781 $1,205 1 $3,142,000 $1,764 12/21/15 338 Main 29E 3/3 1,787 $1,205 1 $3,295,100 $1,844 12/21/15 338 Main 30B 3/3 + Den 2,690 $1,434 1 $5,350,000 $1,989 12/21/15 338 Main 28B 3/3 + Den 2,690 $1,434 1 $5,468,000 $2,033 12/21/15 338 Main 29B 3/3 + Den 2,690 $1,434 1 $5,595,000 $2,080 12/21/15 338 Main 27B 3/3 + Den 2,690 $1,434 1 $5,695,000 $2,117 12/21/15 338 Main 33B 3/3 + Den 2,690 $1,434 1 $5,995,000 $2,229 12/21/15 338 Main 34B 3/3 + Den 2,690 $1,434 1 $6,150,000 $2,286 12/21/15 338 Main 26B 3/3 + Den 2,690 $1,434 1 $7,500,000 $2,788 12/21/15 175 Closings Averages: 1,284 $1,893,599 $1,475

*HOA dues are approximate.

PG.20 SAN FRANCISCO RESIDENTIAL DEVELOPMENT JUNE 2016 CLICK TO RETURN TO THE NAVIGATION PAGE DEVELOPMENT SNAPSHOT Currently Selling THE ROCKWELL 1688 Pine Street at Franklin | Pacific Heights Status: 16 market-rate units available, 213 market-rate units in-contract, Approximate absorption: 16 units/month, Average $/SqFt (sample listings): $1,299 Project info: Two 13-story towers, 260 units (115-unit East Tower + 145-unit West Tower), 31 BMRs, 201 parking spaces, 5,500 SqFt retail, Monthly HOA fee: $600 - $1,000 Ground broken: Q4 2014 Pre-sale: May 2015 First Closings anticipated: August 2016 - West Tower, Novem- ber 2016 - East Tower Developer: Oyster Development (Tricon Capital – equity) Architect: Kwan Henmi Interiors: II by IV Design Amenities: Resident’s lounge with kitchen/dining/screening room, Roof terrace with seating/fireplace, Fitness center, Courtyard garden with fireplace/BBQ, 24-hour lobby atten- dant, Lobby solarium with walnut paneling, Lounge with bar Features & Finishes: Private balconies, Air conditioning, Caesarstone counter tops, Porcelain tile in bathrooms, Stu- dio Becker cabinetry, Bosch/Bertazzoni appliances (exterior exhaust venting), Walk-in shower and dual sinks in master bathrooms, Approx. 9’ +/- ceilings Sales gallery: 1651 Polk St. Website: TheRockwellSF.com

SAMPLE LISTINGS

Unit Bed/Bath SqFt HOA $ Parking List $ $/SqFt E404 1/1 500 $564 0 $626,000 $1,252 E704 1/1 500 $575 0 $670,000 $1,340 E804 1/1 500 $575 0 $689,000 $1,378 E807 1/1 548 $587 0 $726,000 $1,325 E707 1/1 557 $589 0 $732,000 $1,314 E1004 1/1 500 $575 0 $733,000 $1,466 E1104 1/1 500 $575 0 $742,000 $1,484 E709 1/1 639 $610 0 $776,000 $1,214 E1207 1/1 548 $633 1 $787,000 $1,436 E211 1/1 678 $662 1 $801,000 $1,181 W903 1/1 673 $618 0 $803,000 $1,193 W1103 1/1 673 $654 1 $845,000 $1,256 E803 1/1 743 $682 1 $960,000 $1,292 W206 1/1 + Den 750 $638 0 $819,000 $1,092 E305 1/1 + Den 693 $623 0 $821,000 $1,185 E405 1/1 + Den 693 $623 0 $832,000 $1,201 W408 1/1 + Den 729 $632 0 $834,000 $1,144 W804 1/1 + Den 727 $691 1 $879,000 $1,209 W608 1/1 + Den 729 $901 1 $899,000 $1,233 E801 2/2 890 $719 1 $1,128,000 $1,267 W411 2/2 929 $965 1 $1,148,000 $1,236 W611 2/2 927 $722 1 $1,153,000 $1,244 W502 2/2 1,040 $757 1 $1,239,000 $1,191 E1101 2/2 874 $715 1 $1,284,000 $1,469 W902 2/2 955 $735 1 $1,295,000 $1,356 W702 2/2 1,040 $987 1 $1,349,000 $1,297 W1002 2/2 955 $737 1 $1,376,000 $1,441 W205 2/2 1,193 $795 1 $1,394,000 $1,168 W808 2/2 1,076 $766 1 $1,395,000 $1,296 W1202 2/2 955 $735 1 $1,447,000 $1,515 W1108 2/2 1,068 $764 1 $1,479,000 $1,385 E1011 2/2 1,139 $781 1 $1,710,000 $1,501

PG.21 SAN FRANCISCO RESIDENTIAL DEVELOPMENT JUNE 2016 CLICK TO RETURN TO THE NAVIGATION PAGE

DEVELOPMENT SNAPSHOT Currently Selling

LUXE 1650 Broadway at Van Ness | Pacific Heights Status: 18 units available/10 in-contract/6 closed, Average $/SqFt (sample listings): $1,767, Approximate absorption: 3 units/month Pre-sale: October 2015 Closings anticipated: June 2016 Project info: 34 units, 7-stories, 47 parking spaces (valued at $100K/space), HOA: $815 - $1,085 Developer: Pillar Capital Architect: Forum Design Features & Finishes: Marble tile and zinc facade, Floor- to-ceiling windows, Bay & Golden Gate views, 9-foot ceilings, Hardwood living floors, Carpet in bedrooms, Studio Becker Cabinetry, Kitchens with Caesarstone quartz counter tops/Subzero refrigerators/Thermador appliances/U-Line wine coolers, Bathrooms with Du- ravit and Hansgrohe fixtures/Victoria + Albert soaking tubs/Ceramic tile floors/Frame-less glass showers Penthouses only: Gas fireplaces, Walk-in pantries and closets, Calacatta marble, Custom mill work, 10-foot ceilings, 1,500 SqFt terraces Amenities: Lounge, 2-story lobby, Part-time lobby attendant Website: Luxe-SF.com

SAMPLE LISTINGS

Unit Type SqFt Parking* List Price $/SqFt 205 1/1.5 816 1 $1,150,000 $1,409 306 1/2 + Den 899 1 $1,175,000 $1,307 105 1/1.5 + Den 1,103 1 $1,195,000 $1,083 406 1/2 + Den 899 1 $1,225,000 $1,363 104 2/2 1,103 1 $1,250,000 $1,133 506 1/2 + Den 899 1 $1,275,000 $1,418 606 1/2 + Den 893 1 $1,325,000 $1,484 204 2/2 1,096 1 $1,410,000 $1,286 203 2/2 1,129 1 $1,450,000 $1,284 304 2/2 1,090 1 $1,460,000 $1,339 404 2/2 1,091 1 $1,510,000 $1,384 403 2/2 1,121 1 $1,550,000 $1,383 504 2/2 1,052 1 $1,560,000 $1,483 604 2/2 1,040 1 $1,610,000 $1,548 603 2/2 1,083 1 $1,675,000 $1,547 201 3/2.5 1,484 1 $2,095,000 $1,412 202 3/2.5 1,584 1 $2,125,000 $1,342 101 3/2.5 1,555 1 $2,350,000 $1,511 102 3/2.5 1,562 1 $2,350,000 $1,504 401 3/2.5 1,487 1 $2,575,000 $1,732 501 3/2.5 1,394 1 $2,995,000 $2,148 502 3/2.5 1,496 1 $3,280,000 $2,193 602 3/3 1,943 2 $4,550,000 $2,342 601 3/2.5 1,841 2 $4,690,000 $2,548 702 3/2.5 1,965 2 $5,565,000 $2,832 701 3/2.5 1,930 2 $5,880,000 $3,047 *2nd parking space available at $100,000

PG.22 SAN FRANCISCO RESIDENTIAL DEVELOPMENT JUNE 2016 CLICK TO RETURN TO THE NAVIGATION PAGE

DEVELOPMENT SNAPSHOT Currently Selling

FULTON 555 555 Fulton Street at Octavia | Hayes Valley Status: 58 market-rate units available/64 market-rate units in-contract, Approximate absorption: 6 units/ month, Average $/SqFt (sample listings): $1,282 Ground Broken: May 2014 Pre-sale: July 2015 First Closings Anticipated: December 2016 Project info: 139 units, 5-stories, 148 parking spaces (77 retail/68 residential), 17 BMRs, Monthly HOA fee: $450 - $750 Developer: Fulton Street Ventures Architect: Ian Birchall & Associates Features & Finishes: Bosch appliances, Hardwood floors, Concrete construction Amenities: Lounge, Roof terrace, Dog park, Bicycle re- pair station, Conference room, Part-time lobby atten- dant, Zirx valet, 30,000 SqFt grocery store Website: Fulton555.com

SAMPLE LISTINGS

Unit Number Type SqFt HOA $ Parking List Price $/SqFt 410 1/1 512 $487 0 $699,000 $1,365 409 1/1 512 $487 0 $699,000 $1,365 206 1/1 512 $487 0 $699,000 $1,365 305 1/1 512 $487 0 $699,000 $1,365 306 1/1 512 $593 0 $704,003 $1,375 225 1/1 710 $521 0 $760,000 $1,070 226 1/1 710 $521 0 $786,000 $1,107 229 1/1 710 $521 0 $794,321 $1,119 223 1/1 710 $521 0 $819,000 $1,154 407 2/2 719 $521 0 $923,025 $1,284 307 2/2 719 $521 1 $997,672 $1,388 507 2/2 719 $521 1 $1,076,899 $1,498 334 2/2 851 $549 1 $1,109,000 $1,303 313 2/2 855 $549 1 $1,139,000 $1,332 324 2/2 1,005 $593 1 $1,290,662 $1,284 232 2/2 1,195 $611 1 $1,499,000 $1,254

UNIT MIX

Number of Unit Type Units Size Range Studio/Junior 1 5 536 - 687 SqFt 1 - Bedroom 67 452 - 1,278 SqFt 2 - Bedroom 64 814 - 1,195 SqFt 3 - Bedroom 2 1,863 - 2,127 SqFt 5 - Bedroom Penthouse 1 2,340 SqFt

PG.23 SAN FRANCISCO RESIDENTIAL DEVELOPMENT JUNE 2016 CLICK TO RETURN TO THE NAVIGATION PAGE DEVELOPMENT SNAPSHOT Currently Selling

72 TOWNSEND 72 Townsend Street at 2nd | SOMA - South Beach Status: 26 market-rate units available/10 market-rate units in-contract/38 closed, Average $/SqFt (closings): $1,412, Approximate absorption: 3 units/month Project info: 74 units, 9-stories, 74 parking spaces, 7 BMRs, Ground broken: Q1 2014 Pre-sale: April 2015 Developer: KB Home Architect: SB Architects Amenities: Lobby attendant, Roof terrace with BBQ, Lounge Features & Finishes: Steel-frame construction, Bay views, Soaking tubs, Studio Becker cabinetry, Cae- sarstone quartz counter tops, Moen faucets, Bosch appliances, Kohler sinks, Provenza hardwood flooring, Emser porcelain tile flooring, Low VOC paints, Floor- to-ceiling windows, Approx. 9’ ceiling heights Website: 72Townsend.com

CLOSING DETAILS

Closing Unit Bed/Bath SqFt HOA $ Parking Closing $ $/SqFt Date 405 1/1 632 $719 1 $833,100 $1,318 11/6/15 505 1/1 632 $719 1 $856,000 $1,354 11/6/15 307 1/1 709 $718 1 $900,000 $1,269 11/6/15 305 1/1 619 $719 0 $934,500 $1,510 11/6/15 605 1/1 631 $718 1 $970,000 $1,537 3/4/16 401 1/1 788 $757 1 $985,000 $1,250 11/6/15 301 1/1 773 $718 1 $999,000 $1,292 2/13/16 501 1/1 788 $757 1 $1,071,944 $1,360 12/19/15 805 1/1 643 $718 1 $1,470,000 $2,286 5/13/16 403 1/1.5 785 $700 1 $952,000 $1,213 11/6/15 407 1/1.5 851 $773 1 $1,009,000 $1,186 12/31/15 503 1/1.5 785 $653 1 $1,048,000 $1,335 11/6/15 507 1/1.5 851 $771 1 $1,091,660 $1,283 3/3/16 412 1/1.5 900 $785 1 $1,146,515 $1,274 1/7/16 512 1/1.5 900 $785 1 $1,240,000 $1,378 11/6/15 408 1/1.5 1,005 $805 1 $1,241,000 $1,235 11/6/15 306 2/1 935 $787 1 $1,350,000 $1,444 2/26/16 409 2/2 1,146 $834 1 $1,360,000 $1,187 11/6/15 411 2/2 1,106 $836 1 $1,411,600 $1,276 11/6/15 404 2/2 1,260 $834 1 $1,420,000 $1,127 11/6/15 302 2/2 1,198 $834 1 $1,449,000 $1,210 5/29/16 406 2/2 1,176 $853 1 $1,476,500 $1,256 11/6/15 611 2/2 1,106 $837 1 $1,525,000 $1,379 6/6/16 511 2/2 1,143 $719 1 $1,549,000 $1,355 2/13/16 402 2/2 1,289 $871 1 $1,555,000 $1,206 11/6/15 510 2/2 1,219 $858 1 $1,555,000 $1,276 4/9/16 504 2/2 1,260 $867 1 $1,565,000 $1,242 4/22/16 309 2/2 1,136 $834 1 $1,595,000 $1,404 12/11/15 304 2/2 1,186 $853 1 $1,630,000 $1,374 12/11/15 502 2/2 1,289 $871 1 $1,675,000 $1,299 11/6/15 506 2/2 1,176 $855 1 $1,720,500 $1,463 11/6/15 311 2/2 1,106 $834 1 $1,735,125 $1,569 11/30/15 310 2/2 1,219 $834 1 $1,745,472 $1,432 11/30/15 606 2/2 1,090 $834 1 $1,770,000 $1,624 3/3/16 706 2/2 1,090 $834 1 $1,880,000 $1,725 5/7/16 807 2/2 1,219 $871 1 $1,975,000 $1,620 5/7/16 902 3/2 1,722 $1,100 1 $4,065,000 $2,361 5/23/16

PG.24 SAN FRANCISCO RESIDENTIAL DEVELOPMENT JUNE 2016 CLICK TO RETURN TO THE NAVIGATION PAGE

DEVELOPMENT SNAPSHOT Currently Selling

SAN FRANCISCO SHIPYARD (2nd Release)

Innes Avenue and Donahue Street - Hunters Point Status: 30 market-rate units available/93 in-contract/20 closed, Approximate absorption: 8 units/month, Average $/ SqFt (closings): $820 Project info: 159 units, Two-car parking for townhomes, One-car parking for condominiums, Monthly HOA fees: $210 - $227 (townhomes), $356 - $476 (condos), 16 BMRs Date on market: April 2015 Developer: Lennar Urban Architect: Kava Massih Features & Finishes: Nest thermostats and smoke/car- bon dioxide detectors, Bosch appliances, Caesarstone and quartz counter tops, Barbosa high-gloss cabinetry, Por- celanosa bathroom floors, Plyboo wire-brushed hardwood floors, Private outdoor spaces, Secured parking, Dropcam Amenities: Downtown shuttle, Terraces, Bicycle parking Website: TheSFShipyard.com

CLOSINGS

Closing Unit Number Type SqFt HOA $* Parking Closing Price $/SqFt Date 551 Hudson 101 1/1 558 $356 1 $516,000 $925 1/21/16 551 Hudson 203 1/1 + Den 811 $390 1 $633,000 $781 1/14/16 551 Hudson 302 1/1 + Den 806 $390 1 $646,000 $801 1/21/16 501 Hudson 202 1/1 + Den 811 $390 1 $649,000 $800 1/12/16 501 Hudson 204 1/1 + Den 760 $390 1 $649,000 $854 1/21/16 551 Hudson 202 1/1 + Den 764 $390 1 $655,500 $858 1/14/16 501 Hudson 302 1/1 + Den 811 $390 1 $667,500 $823 1/12/16 501 Hudson 304 1/1 + Den 804 $390 1 $668,500 $831 1/13/16 551 Hudson 204 2/2 970 $420 1 $751,000 $774 1/14/16 551 Hudson 301 2/2 957 $420 1 $758,500 $793 1/14/16 501 Hudson 203 2/2 956 $420 1 $776,000 $812 1/12/16 501 Hudson 303 2/2 956 $420 1 $796,000 $833 1/13/16 207 Friedell 2/2 1,073 $211 2 $868,500 $809 2/25/16 217 Friedell 2/2 1,167 $200 2 $881,000 $755 1/19/16 227 Friedell 2/2 1,167 $200 2 $886,000 $759 2/25/16 247 Friedell 3/2.5 1,318 $220 1 $976,000 $741 1/21/16 201 Friedell 3/2.5 1,437 $224 2 $1,051,000 $731 1/19/16 299 Friedell 3/2.5 1,615 $230 2 $1,101,000 $682 2/9/16 UNIT MIX *HOA dues are approximate.

Unit Type # of Units Size Range 2 - Bedroom Townhome 20 1,070 - 1,180 SqFt 3 - Bedroom Townhome 34 1,200 - 1,620 SqFt 1 - Bedroom Condo 46 550 - 811 SqFt 2 - Bedroom Condo 54 960 - 1,380 SqFt 3 - Bedroom Condo 5 1,235 - 1,285 SqFt

PG.25 SAN FRANCISCO RESIDENTIAL DEVELOPMENT JUNE 2016 CLICK TO RETURN TO THE NAVIGATION PAGE DEVELOPMENT SNAPSHOT Currently Selling

SUMMIT 800 800 Brotherhood Way at Junipero Serra | Park Merced Status: 22 units available/58 in-contract/102 closed, Approx- imate absorption: 7 units/month, Average $/SqFt (closings): $674 Developer: Comstock Homes & Maracor Development Project info: 182 units, Townhomes and single family homes, 2-3 car parking, Date on market: July 2014 Amenities: HOA maintained front yard landscaping, adjacent to two-acre park with tot lot/dog area Features and Finishes: Decks, walk-in closets, Copper Creek polished chrome door hardware, Emser ceramic tile floors, Crema Marfil master bath floors, Superior Shaw stain-resistant carpet, Andersen windows and sliding doors, granite kitchen counter tops and backsplash, Viking appliances, Kohler sinks and tubs, Delta faucets, powder rooms in each floor plan, Piedrafina bathroom counter tops and surrounds, 1.5 KW solar system, tank-less water heaters Website: Summit800.com

CLOSING DETAILS

Unit Type SqFt HOA $ Parking Closing Price $/SqFt Closing Date 126 3/2 1,547 $223 2 $990,675 $640 12/2/15 186 3/2 1,547 $215 2 $998,700 $646 3/31/16 166 3/2 1,547 $230 2 $1,011,782 $654 11/30/15 120 3/2 1,547 $654 2 $1,012,234 $654 9/30/15 106 3/2 1,547 $248 2 $1,016,000 $657 5/1/15 96 3/2 1,547 $249 2 $1,021,207 $660 6/5/15 176 3/2 1,547 $215 2 $1,028,933 $665 3/31/16 136 3/2 1,547 $224 2 $1,030,298 $666 10/28/15 160 3/2 1,547 $230 2 $1,048,012 $677 11/24/15 188 3/2.5 1,839 $227 2 $1,125,000 $612 3/31/16 132 3/2.5 1,839 $235 2 $1,140,289 $620 10/23/15 102 3/2.5 1,839 $248 2 $1,143,594 $622 6/11/15 162 3/2.5 1,839 $230 2 $1,150,505 $626 1/22/16 138 3/2.5 1,839 $235 2 $1,169,177 $636 10/28/15 71 3/2.5 2,133 $566 2 $1,188,000 $557 3/9/15 198 3/2.5 1,839 $235 2 $1,194,726 $650 5/4/16 101 3/2.5 2,133 $276 2 $1,299,077 $609 8/26/15 165 3/2.5 2,133 $274 2 $1,311,650 $615 3/11/16 159 3/2.5 2,133 $275 2 $1,319,499 $619 12/31/15 107 3/2.5 2,024 $277 2 $1,331,500 $658 10/15/15 111 3/2.5 2,133 $278 2 $1,349,846 $633 11/20/15 85 3/2.5 2,133 $294 2 $1,356,536 $636 5/28/15 105 3/2.5 2,024 $274 2 $1,360,000 $672 8/21/15 155 3/2.5 2,024 $275 2 $1,361,764 $673 12/30/15 109 3/2.5 2,133 $278 2 $1,381,500 $648 11/3/15 103 3/2.5 2,133 $276 2 $1,399,015 $656 8/26/15 89 3/2.5 2,024 $293 2 $1,400,000 $692 5/22/15 157 3/2.5 2,133 $276 2 $1,417,530 $665 1/7/16 69 3/2.5 2,133 $566 2 $1,430,000 $670 3/30/15 299 3/2.5 2,001 $206 3 $1,450,000 $725 6/9/15 309 3/2.5 2,001 $238 3 $1,450,000 $725 4/20/15 73 3/2.5 2,024 $325 2 $1,470,000 $726 4/20/15 295 3/2.5 2,001 $189 3 $1,478,486 $739 10/5/15 281 3/2.5 2,001 $185 3 $1,512,381 $725 2/26/16 83 3/2.5 2,024 $293 2 $1,516,329 $749 5/7/15 291 3/2.5 2,001 $189 3 $1,519,538 $759 9/30/15 275 3/2.5 2,001 $185 3 $1,573,959 $787 5/17/16 297 3/2.5 2,001 $187 3 $1,603,000 $801 7/28/15 301 3/2.5 2,001 $206 3 $1,623,000 $811 7/17/15

PG.26 SAN FRANCISCO RESIDENTIAL DEVELOPMENT JUNE 2016 CLICK TO RETURN TO THE NAVIGATION PAGE

DEVELOPMENT SNAPSHOT Currently Selling

6 MINT PLAZA

418 Jessie Street (5th & Mission) | South of Market Status: 2 units available/19 closed, Average $/SqFt (clos- ings): $1,358 Project info: 22 units, 8-stories, Historic rehab/condo con- version Date on Market: June 2015 Owner: The Carlyle Group/Veritas Features & Finishes: Historic rehab of early twentieth-cen- tury building, Acid-stained concrete floors, Exposed con- crete and plaster walls, Industrial-era windows, Birch wood doors, Viking refrigerators, Thermador cook tops, Bosch washer/dryers, Concrete and stone counter tops, Monarch hardwood floors, Stainless steel soaking tubs, Walk-in clos- ets, Private balconies, Central heat and air conditioning Amenities: Roof terrace with spa and BBQ, Gym, Fob-se- cured entry, 24-hour guard service, Mint Plaza Merchants: Blue Bottle Coffee, Mint 54 Italian Kitchen, flower stand Website: 6MintPlaza.com

CLOSING DETAILS

Unit Number Type SqFt HOA $ Parking Closing Price $/SqFt Closing Date 801 1/1 661 $486 0 $875,000 $1,324 2/24/16 601 1/1 606 $485 0 $840,000 $1,386 12/2/15 301 1/1 601 $481 0 $770,000 $1,281 11/23/15 504 2/2 973 $666 0 $1,220,000 $1,254 10/13/15 502 2/1 767 $598 0 $995,000 $1,297 9/24/15 603 1/1 728 $571 0 $970,000 $1,332 9/16/15 304 2/2 863 $665 1 $1,150,000 $1,333 9/9/15 701 1/1 606 $485 0 $850,000 $1,403 9/4/15 401 1/1 605 $484 0 $799,000 $1,321 9/2/15 303 2/1 712 $559 0 $899,000 $1,263 9/1/15 402 2/1 766 $597 0 $945,000 $1,234 9/1/15 703 2/1 729 $571 0 $990,000 $1,358 9/1/15 802 3/3 1,679 $1,238 0 $2,745,000 $1,635 8/27/15 306 2/1 817 $633 0 $995,000 $1,218 7/31/15 201 1/1 589 $473 0 $712,000 $1,209 7/24/15 501 1/1 607 $485 0 $771,500 $1,271 7/1/15 702 3/3 1,670 $1,231 0 $2,550,000 $1,527 6/29/15 503 2/1 729 $571 0 $896,500 $1,230 6/24/15

PG.27 SAN FRANCISCO RESIDENTIAL DEVELOPMENT JUNE 2016 CLICK TO RETURN TO THE NAVIGATION PAGE DEVELOPMENT SNAPSHOT Recently Sold-out

400 GROVE 400 Grove Street at Gough | Hayes Valley Average $/SqFt (closings): $1,294 Project info: 34 units, 4 BMRs, 5-stories, 17 parking spaces (valued at $125K a space), 34 bicycle spaces Date on market: May 2015 Developer: DM & DDG Architect: Fougeron Landscape Architect: Marta Fry Features & Finishes: Redwood rain screen, FSC certified 7.5”-wide oak plank flooring, LED accent lighting, SieMatic kitchen cabinetry, Corian counter tops, Blanco/Hansgrohe faucets, Duravit bathroom cabinets/fixtures, Bosch appli- ances, Liebherr refrigerators, Approx. 9’+/- ceilings, Gladia- tor storage rails at garage Amenities: Virtual Doorman, Courtyard bamboo garden, Roof terrace with BBQ, On-site restaurant (“Little Gem”) Website: 400Grove.com

CLOSING DETAILS

Unit Number Type SqFt HOA $ Parking Closing Price $/SqFt Closing Date 304 0/1 428 $647 0 $544,000 $1,271 9/1/15 204 0/1 485 $665 0 $549,000 $1,132 9/1/15 205 0/1 477 $663 0 $557,000 $1,168 9/1/15 308 0/1 578 $693 0 $639,000 $1,106 10/13/15 208 0/1 578 $693 0 $649,000 $1,123 9/1/15 406 0/1 578 $693 0 $664,000 $1,149 10/13/15 104 0/1 577 $693 0 $694,000 $1,203 9/1/15 301 1/1 570 $693 0 $709,000 $1,244 9/1/15 201 1/1 603 $702 0 $728,000 $1,207 10/13/15 102 1/1 678 $732 0 $767,000 $1,131 9/1/15 202 1/1 677 $732 0 $771,000 $1,139 9/1/15 404 1/1 815 $783 0 $850,000 $1,043 9/1/15 209 2/2 1,012 $844 1 $990,000 $978 10/9/15 407 2/2 1,012 $844 1 $1,258,000 $1,243 10/15/15 403 2/2 905 $817 1 $1,275,000 $1,409 10/8/15 309 2/2 1,012 $844 1 $1,298,000 $1,283 10/16/15 105 2/2 1,009 $844 1 $1,350,000 $1,338 11/6/15 303 2/2 930 $822 1 $1,375,000 $1,478 9/1/15 207 2/2 1,154 $905 1 $1,385,000 $1,200 10/16/15 401 2/2 1,060 $864 1 $1,395,000 $1,316 10/13/15 103 2/2 1,110 $888 1 $1,414,500 $1,274 9/1/15 203 2/2 1,028 $856 1 $1,426,000 $1,387 9/1/15 307 2/2 1,154 $905 1 $1,432,000 $1,241 9/1/15 405 2/2 1,194 $919 1 $1,498,000 $1,255 9/1/15 504 2/2 950 $835 1 $1,522,000 $1,602 9/1/15 402 2/2 1,098 $886 1 $1,528,000 $1,392 10/8/15 502 2/2 1,052 $864 1 $1,628,000 $1,548 9/1/15 503 2/2 1,080 $885 1 $1,687,000 $1,562 9/1/15 501 2/2.5 1,369 $1,034 1 $1,995,000 $1,457 5/11/16

UNIT MIX

Unit Type Number of Units Size Range Junior 1 - Bedroom 8 428 - 578 SqFt 1 - Bedroom 7 570 - 815 SqFt 2 - Bedroom 19 905 - 1,369 SqFt

PG.28 SAN FRANCISCO RESIDENTIAL DEVELOPMENT JUNE 2016 CLICK TO RETURN TO THE NAVIGATION PAGE

DEVELOPMENT SNAPSHOT Recently Sold-Out

SAPPHIRE

252 9th Street at Howard | South of Market Average $/SqFt (closings): $1,052 Approximate absorption: 3 units/month Project info: 15 units, 4-stories, 0 parking spaces Date on Market: October 2015 Developer: Stan Chia Architect: Sia Consulting Features & Finishes: Wide-plank oak floors, Bertazzoni ranges/microwaves, Frigidaire refrigerators, Silostone counter tops, Ceramic-tiled bathrooms, Toto toilets Amenities: Bicycle storage, Storage lockers, Roof ter- race, Dog run Website: SapphireSF.com

CLOSING DETAILS

Unit Number Type SqFt HOA $ Parking Closing Price $/SqFt Closing Date 202 1/1 741 $439 0 $767,000 $1,035 3/22/16 302 1/1 764 $437 0 $782,999 $1,025 2/12/16 301 1/1 630 $430 0 $669,000 $1,062 1/29/16 201 1/1 634 $430 0 $659,000 $1,039 1/29/16 401 1/1 634 $430 0 $699,000 $1,103 1/28/16 304 2/1 833 $443 0 $850,000 $1,020 2/26/16 204 2/1 810 $442 0 $850,000 $1,049 2/25/16 403 2/1 715 $436 0 $785,000 $1,098 2/2/16 303 2/1 715 $436 0 $750,000 $1,049 1/29/16 404 2/1 833 $718 1 $875,000 $1,050 1/22/16

SUMMARY

# Of Average Unit Type Sales SqFt HOA $ SqFt Range Average $ $ Range $/SqFt One-Bedroom 5 680 $433 630 - 764 $715,400 $659,000 - $782,000 $1,051 Two-Bedroom 5 781 $495 715 - 833 $822,000 $750,000 - $875,000 $1,052 All Types 10 731 $464 630 - 833 $768,700 $659,000 - $875,000 $1,052

PG.29 SAN FRANCISCO RESIDENTIAL DEVELOPMENT JUNE 2016 CLICK TO RETURN TO THE NAVIGATION PAGE

DEVELOPMENT SNAPSHOT Recently Sold-Out

ONYX ON THE PARK

310 Carolina Street at 17th | Potrero Hill Average $/SqFt (closings): $1,281 Project info: 21 units, 4-stories, 21 parking spaces Date on market: October 2015 Developer: SJK Development Architect: Gary Gee Features & Finishes: Deeded storage units, Wide- plank rustic-oak floors, PentalQuartz counter tops, Glass tile backsplash, High-gloss Barbosa cabinetry, LED lighting accents, Hans Grohe fixtures, Porcelain tile, Nest thermostats, Vent-out clothes dryer, Cat6 wiring, Security systems, Webpass Internet, Intercom/ video system, Individual water meters Amenities: Common area solar panels, Two-story lob- by, Roof terrace with BBQ/WIFI Website: OnyxSF.com

CLOSING DETAILS

Unit Type SqFt HOA $ Parking Closing Price $/SqFt Closing Date 402 1/1 897 $476 1 $1,099,000 $1,225 1/14/16 405 1/1 722 $397 0 $889,000 $1,231 1/12/16 305 1/1 724 $447 1 $890,000 $1,229 12/21/15 202 1/1 844 $467 1 $1,149,000 $1,361 12/21/15 205 1/1 706 $444 1 $949,000 $1,344 12/11/15 201 1/1 881 $473 1 $1,100,000 $1,249 12/11/15 302 1/1 898 $426 1 $1,029,000 $1,146 11/17/15 301 1/1 903 $427 1 $1,129,000 $1,250 11/17/15 401 1/1 903 $427 1 $1,350,000 $1,495 11/17/15 403 2/2 877 $473 1 $1,149,000 $1,310 4/28/16 406 2/2.5 1,272 $537 1 $1,735,000 $1,364 2/17/16 303 2/2 877 $422 1 $1,135,000 $1,294 12/16/15 203 2/2 916 $479 1 $1,149,000 $1,254 11/25/15 207 2/2 1,271 $487 1 $1,365,000 $1,074 11/17/15 204 2/2.5 1,209 $477 1 $1,525,000 $1,261 11/17/15 404 2/2.5 1,242 $483 1 $1,750,000 $1,409 11/17/15

SUMMARY

# Of Average Unit Type Sales SqFt HOA $ SqFt Range Average $ $ Range $/SqFt One-Bedroom 9 831 $443 706 - 903 $1,064,889 $889,000 - $1,350,000 $1,282 Two-Bedroom 7 1,095 $480 877 - 1,272 $1,401,143 $1,135,000 - $1,750,000 $1,280 All Types 16 946 $459 706 - 1,272 $1,212,000 $889,000 - $1,750,000 $1,281

PG.30 SAN FRANCISCO RESIDENTIAL DEVELOPMENT JUNE 2016 CLICK TO RETURN TO THE NAVIGATION PAGE

DEVELOPMENT SNAPSHOT Recently Sold-Out

ARDEN

718 & 738 Long Bridge Street at 4th | Mission Bay Approximate absorption: 65 units/month Average $/ SqFt (closings): $1,008 Developer: Bosa Development Architect: Chris Dikeakos Project info: 267 units, 0 BMRs, 16-stories Date on market: June 2014 All units in contract: Septem- ber 2014 Amenities: Attended lobbies, 75’ lap pool, spa, fitness center with changing rooms, resident’s lounge with kitch- en/billiards, numerous terraces, BBQ, library, electric car share, workshop, pet grooming facility, common area WIFI and USB ports, storage Features and Finishes: Hardwood floors, Whirlpool wash- er/dryers, walk-in closets, solid core interior doors, USB and fiber optic wiring, Caesarstone counter tops, Therma- dor appliances, Grohe plumbing fixtures

UNIT MIX

Number of Unit Type Units Size Range 1 - Bedroom 17 732 - 1,168 SqFt 2 - Bedroom 205 995 - 1,436 SqFt 3 - Bedroom 45 1,611 - 2,044 SqFt

ARDEN CLOSINGS ON FOLLOWING PAGES...

PG.31 SAN FRANCISCO RESIDENTIAL DEVELOPMENT JUNE 2016 CLICK TO RETURN TO THE NAVIGATION PAGE

DEVELOPMENT SNAPSHOT Currently Selling

CLOSING DETAILS - ARDEN

Unit Type SqFt HOA $* Parking Closing Price $/SqFt Sale Date 718 Long Bridge 504 2/1 + Den 1,007 $897 1 $1,345,000 $1,336 1/29/2016 718 Long Bridge 1401 2/2 1,234 $938 1 $1,382,100 $1,120 1/4/2016 718 Long Bridge 1302 2/2 + Den 1,407 $969 1 $1,551,400 $1,103 12/30/2015 718 Long Bridge 300 2/2 1,218 $938 1 $1,074,000 $882 12/23/2015 718 Long Bridge 1400 2/2 1,329 $953 1 $1,495,000 $1,125 12/18/2015 738 Long Bridge 616 1/1 723 $846 1 $882,800 $1,221 12/18/2015 718 Long Bridge 1501 2/2 1,234 $938 1 $1,419,500 $1,150 12/3/2015 718 Long Bridge 1502 2/2 + Den 1,407 $969 1 $1,614,500 $1,147 12/3/2015 718 Long Bridge 1503 3/3 1,958 $1,057 1 $2,463,500 $1,258 12/3/2015 718 Long Bridge 1505 2/2 1,563 $989 1 $1,891,500 $1,210 12/3/2015 718 Long Bridge 1600 2/2 1,327 $953 1 $1,591,000 $1,199 12/3/2015 718 Long Bridge 1601 2/2 1,234 $938 1 $1,477,500 $1,197 12/3/2015 718 Long Bridge 1602 2/2 + Den 1,407 $969 1 $1,660,500 $1,180 12/3/2015 718 Long Bridge 1603 3/3 1,958 $1,057 1 $2,366,500 $1,209 12/3/2015 718 Long Bridge 1605 2/2 1,563 $989 1 $1,967,500 $1,259 12/3/2015 738 Long Bridge 1506 3/2 1,618 $1,003 1 $1,896,500 $1,172 12/3/2015 738 Long Bridge 1507 3/2 1,668 $1,003 1 $1,965,000 $1,178 12/3/2015 738 Long Bridge 1508 2/2 1,285 $938 1 $1,558,000 $1,212 12/3/2015 738 Long Bridge 1509 3/3 1,950 $1,057 1 $2,395,500 $1,228 12/3/2015 738 Long Bridge 1510 2/2 1,459 $969 1 $1,809,000 $1,240 12/3/2015 738 Long Bridge 1606 3/2 1,618 $1,003 1 $1,938,000 $1,198 12/3/2015 738 Long Bridge 1608 2/2 1,285 $938 1 $1,556,000 $1,211 12/3/2015 738 Long Bridge 1609 3/3 1,950 $1,057 1 $2,700,000 $1,385 12/3/2015 738 Long Bridge 1610 2/2 1,459 $969 1 $1,791,500 $1,228 12/3/2015 738 Long Bridge 1611 2/2 1,018 $897 1 $1,230,000 $1,208 12/3/2015 718 Long Bridge 1300 2/2 1,327 $953 1 $1,470,000 $1,108 11/23/2015 718 Long Bridge 1301 2/2 1,234 $938 1 $1,361,000 $1,103 11/23/2015 718 Long Bridge 1303 3/3 1,958 $1,057 1 $2,341,000 $1,196 11/23/2015 718 Long Bridge 1305 2/2 1,563 $989 1 $1,831,500 $1,172 11/23/2015 738 Long Bridge 1306 3/2 1,618 $1,003 1 $1,815,100 $1,122 11/23/2015 738 Long Bridge 1307 3/2 1,668 $1,003 1 $1,881,000 $1,128 11/23/2015 738 Long Bridge 1308 2/2 1,285 $938 1 $1,497,000 $1,165 11/23/2015 738 Long Bridge 1309 3/3 1,950 $1,057 1 $2,234,500 $1,146 11/23/2015 738 Long Bridge 1310 2/2 1,459 $969 1 $1,716,000 $1,176 11/23/2015 738 Long Bridge 1311 2/2 1,018 $897 1 $1,163,500 $1,143 11/23/2015 738 Long Bridge 1406 3/2 1,618 $1,003 1 $1,842,500 $1,139 11/23/2015 738 Long Bridge 1407 3/2 1,668 $1,003 1 $1,854,000 $1,112 11/23/2015 738 Long Bridge 1408 2/2 1,285 $938 1 $1,504,500 $1,171 11/23/2015 738 Long Bridge 1409 3/3 1,950 $1,057 1 $2,334,500 $1,197 11/23/2015 738 Long Bridge 1410 2/2 1,459 $969 1 $1,740,500 $1,193 11/23/2015 738 Long Bridge 1411 2/2 1,018 $897 1 $1,181,500 $1,161 11/23/2015 718 Long Bridge 1100 2/2 1,327 $953 1 $1,411,000 $1,063 11/20/2015 718 Long Bridge 1101 2/2 1,234 $938 1 $1,305,500 $1,058 11/20/2015 718 Long Bridge 1102 2/2 + Den 1,407 $969 1 $1,504,500 $1,069 11/20/2015 718 Long Bridge 1103 3/3 1,958 $1,057 1 $2,298,000 $1,174 11/20/2015 718 Long Bridge 1104 2/2 + Den 1,463 $969 1 $1,602,000 $1,095 11/20/2015 718 Long Bridge 1105 2/2 1,563 $989 1 $1,779,500 $1,139 11/20/2015 718 Long Bridge 1201 2/2 1,234 $938 1 $1,339,500 $1,085 11/20/2015 718 Long Bridge 1202 2/2 + Den 1,407 $969 1 $1,498,000 $1,065 11/20/2015 718 Long Bridge 1203 3/3 1,958 $1,057 1 $2,331,500 $1,191 11/20/2015 718 Long Bridge 1204 2/2 + Den 1,463 $969 1 $1,578,500 $1,079 11/20/2015 738 Long Bridge 1106 3/2 1,618 $1,003 1 $1,759,500 $1,087 11/20/2015 738 Long Bridge 1107 3/2 1,668 $1,003 1 $1,842,100 $1,104 11/20/2015 738 Long Bridge 1109 3/3 1,950 $1,057 1 $2,241,600 $1,150 11/20/2015 738 Long Bridge 1110 2/2 1,459 $969 1 $1,684,000 $1,154 11/20/2015 738 Long Bridge 1111 2/2 1,018 $897 1 $1,127,000 $1,107 11/20/2015 738 Long Bridge 1206 3/2 1,618 $1,003 1 $1,787,000 $1,104 11/20/2015 738 Long Bridge 1207 3/2 1,668 $1,003 1 $1,871,000 $1,122 11/20/2015 738 Long Bridge 1209 3/3 1,950 $1,057 1 $2,272,500 $1,165 11/20/2015 738 Long Bridge 1211 2/2 1,018 $897 1 $1,112,000 $1,092 11/20/2015 718 Long Bridge 1000 2/2 1,325 $953 1 $1,401,000 $1,057 11/19/2015 718 Long Bridge 1001 2/2 1,222 $938 1 $1,288,000 $1,054 11/19/2015 718 Long Bridge 1003 3/3 1,952 $1,057 1 $2,013,000 $1,031 11/19/2015 718 Long Bridge 1004 2/2 + Den 1,462 $969 1 $1,624,500 $1,111 11/19/2015 718 Long Bridge 1005 2/2 1,563 $989 1 $1,754,000 $1,122 11/19/2015 738 Long Bridge 1006 3/2 1,611 $1,003 1 $1,704,000 $1,058 11/19/2015

*HOA dues are approximate. ARDEN CLOSINGS CONTINUED ON FOLLOWING PAGE...

PG.32 SAN FRANCISCO RESIDENTIAL DEVELOPMENT JUNE 2016 CLICK TO RETURN TO THE NAVIGATION PAGE

DEVELOPMENT SNAPSHOT Currently Selling

CLOSING DETAILS - ARDEN

Unit Type SqFt HOA $* Parking Closing Price $/SqFt Sale Date 738 Long Bridge 1007 3/2 1,666 $1,003 1 $1,793,000 $1,076 11/19/2015 738 Long Bridge 1008 2/2 1,290 $938 1 $1,434,000 $1,112 11/19/2015 738 Long Bridge 1009 3/3 1,945 $1,057 1 $2,205,500 $1,134 11/19/2015 738 Long Bridge 1011 1/1 + Den 835 $884 1 $911,000 $1,091 11/19/2015 718 Long Bridge 900 2/2 1,337 $953 1 $1,342,500 $1,004 11/16/2015 718 Long Bridge 901 2/2 1,227 $938 1 $1,228,000 $1,001 11/16/2015 718 Long Bridge 902 2/2 + Den 1,413 $969 1 $1,401,500 $992 11/16/2015 718 Long Bridge 903 3/3 1,804 $1,035 1 $1,877,500 $1,041 11/16/2015 718 Long Bridge 904 2/2 + Den 1,462 $969 1 $1,416,500 $969 11/16/2015 718 Long Bridge 905 2/2 1,565 $989 1 $1,609,500 $1,028 11/16/2015 738 Long Bridge 909 2/2 1,231 $938 1 $1,199,000 $974 11/16/2015 738 Long Bridge 910 2/2 1,422 $969 1 $1,420,000 $999 11/16/2015 738 Long Bridge 911 2/2 1,290 $938 1 $1,286,500 $997 11/16/2015 738 Long Bridge 912 3/2 1,951 $1,057 1 $1,993,500 $1,022 11/16/2015 738 Long Bridge 913 2/2 1,456 $969 1 $1,431,500 $983 11/16/2015 738 Long Bridge 914 2/2 1,177 $920 1 $1,134,000 $963 11/16/2015 718 Long Bridge 700 2/2 1,325 $953 1 $1,288,500 $972 11/9/2015 718 Long Bridge 701 2/2 1,231 $938 1 $1,188,500 $965 11/9/2015 718 Long Bridge 702 2/2 + Den 1,414 $969 1 $1,342,000 $949 11/9/2015 718 Long Bridge 703 3/3 1,804 $1,035 1 $1,817,500 $1,007 11/9/2015 718 Long Bridge 704 2/2 + Den 1,465 $969 1 $1,431,500 $977 11/9/2015 718 Long Bridge 801 2/2 1,238 $938 1 $1,191,000 $962 11/9/2015 718 Long Bridge 802 2/2 + Den 1,418 $969 1 $1,368,000 $965 11/9/2015 718 Long Bridge 803 3/3 1,804 $1,035 1 $1,794,000 $994 11/9/2015 718 Long Bridge 804 2/2 + Den 1,463 $969 1 $1,435,000 $981 11/9/2015 718 Long Bridge 805 2/2 1,561 $989 1 $1,565,500 $1,003 11/9/2015 738 Long Bridge 706 2/2 + Den 1,328 $953 1 $1,306,500 $984 11/9/2015 738 Long Bridge 707 2/2 + Den 1,315 $953 1 $1,263,500 $961 11/9/2015 738 Long Bridge 708 2/2 1,309 $953 1 $1,243,500 $950 11/9/2015 738 Long Bridge 709 2/2 1,230 $938 1 $1,156,500 $940 11/9/2015 738 Long Bridge 710 2/2 1,413 $969 1 $1,379,000 $976 11/9/2015 738 Long Bridge 711 2/2 1,285 $938 1 $1,167,500 $909 11/9/2015 738 Long Bridge 712 3/2 1,945 $1,057 1 $1,872,000 $962 11/9/2015 738 Long Bridge 713 2/2 1,455 $969 1 $1,484,100 $1,020 11/9/2015 738 Long Bridge 715 2/2 + Den 1,244 $938 1 $1,290,000 $1,037 11/9/2015 738 Long Bridge 717 2/2 + Den 1,411 $969 1 $1,368,000 $970 11/9/2015 738 Long Bridge 807 2/2 + Den 1,315 $953 1 $1,286,000 $978 11/9/2015 738 Long Bridge 808 2/2 1,309 $953 1 $1,241,000 $948 11/9/2015 738 Long Bridge 809 2/2 1,230 $938 1 $1,177,000 $957 11/9/2015 738 Long Bridge 810 2/2 1,417 $969 1 $1,392,000 $982 11/9/2015 738 Long Bridge 811 2/2 1,292 $938 1 $1,266,000 $980 11/9/2015 738 Long Bridge 812 3/2 1,946 $1,057 1 $2,036,000 $1,046 11/9/2015 738 Long Bridge 813 2/2 1,456 $969 1 $1,408,500 $967 11/9/2015 738 Long Bridge 814 2/2 1,175 $920 1 $1,192,500 $1,015 11/9/2015 738 Long Bridge 815 2/2 + Den 1,248 $938 1 $1,315,000 $1,054 11/9/2015 738 Long Bridge 816 2/2 + Den 1,431 $969 1 $1,371,000 $958 11/9/2015 738 Long Bridge 817 2/2 + Den 1,435 $969 1 $1,408,000 $981 11/9/2015 718 Long Bridge 600 2/2 1,345 $953 1 $1,280,500 $952 11/4/2015 718 Long Bridge 602 2/2 1,118 $920 1 $1,118,500 $1,000 11/4/2015 718 Long Bridge 603 3/3 1,786 $1,027 1 $1,772,500 $992 11/4/2015 718 Long Bridge 604 2/2 1,385 $953 1 $1,279,000 $923 11/4/2015 718 Long Bridge 605 3/3 + Den 2,038 $1,072 1 $2,064,000 $1,013 11/4/2015 718 Long Bridge 607 2/2 + Den 1,340 $953 1 $1,263,000 $943 11/4/2015 738 Long Bridge 608 2/2 + Den 1,308 $953 1 $1,269,500 $971 11/4/2015 738 Long Bridge 609 2/2 + Den 1,314 $953 1 $1,240,500 $944 11/4/2015 738 Long Bridge 610 2/2 1,309 $953 1 $1,197,500 $915 11/4/2015 738 Long Bridge 611 2/2 1,251 $938 1 $1,181,000 $944 11/4/2015 738 Long Bridge 612 2/2 1,433 $969 1 $1,369,500 $956 11/4/2015 738 Long Bridge 614 3/2 1,943 $1,057 1 $1,891,000 $973 11/4/2015 738 Long Bridge 615 2/2 1,436 $969 1 $1,348,500 $939 11/4/2015 738 Long Bridge 617 1/1 + Den 889 $884 1 $885,500 $996 11/4/2015 738 Long Bridge 618 2/2 + Den 1,430 $969 1 $1,325,000 $927 11/4/2015 738 Long Bridge 619 2/2 + Den 1,415 $969 1 $1,348,000 $953 11/4/2015 718 Long Bridge 500 2/2 1,317 $953 1 $1,195,500 $908 10/27/2015 718 Long Bridge 501 2/2 1,218 $938 1 $1,137,000 $933 10/27/2015 718 Long Bridge 502 2/2 1,131 $920 1 $1,125,500 $995 10/27/2015

*HOA dues are approximate. ARDEN CLOSINGS CONTINUED ON FOLLOWING PAGE...

PG.33 SAN FRANCISCO RESIDENTIAL DEVELOPMENT JUNE 2016 CLICK TO RETURN TO THE NAVIGATION PAGE DEVELOPMENT SNAPSHOT Currently Selling CLOSING DETAILS - ARDEN

Unit Type SqFt HOA $* Parking Closing Price $/SqFt Sale Date 718 Long Bridge 503 3/3 1,795 $1,027 1 $1,752,500 $976 10/27/2015 718 Long Bridge 505 3/3 + Den 2,044 $1,072 1 $1,950,500 $954 10/27/2015 718 Long Bridge 506 2/2 + Den 1,353 $953 1 $1,244,500 $920 10/27/2015 718 Long Bridge 507 2/2 + Den 1,356 $953 1 $1,251,000 $923 10/27/2015 718 Long Bridge 508 2/2 + Den 1,263 $938 1 $1,234,000 $977 10/27/2015 738 Long Bridge 509 2/2 + Den 1,267 $938 1 $1,180,500 $932 10/27/2015 738 Long Bridge 514 3/3 1,958 $1,057 1 $1,876,000 $958 10/27/2015 738 Long Bridge 515 2/2 1,454 $969 1 $1,448,500 $996 10/27/2015 738 Long Bridge 517 2/2 + Den 1,425 $969 1 $1,316,000 $924 10/27/2015 738 Long Bridge 518 2/2 + Den 1,414 $969 1 $1,342,000 $949 10/27/2015 718 Long Bridge 400 2/2 1,216 $938 1 $1,099,000 $904 10/26/2015 718 Long Bridge 401 1/1 + Den 893 $884 1 $895,500 $1,003 10/26/2015 718 Long Bridge 402 2/2 + Den 1,292 $938 1 $1,165,500 $902 10/26/2015 718 Long Bridge 403 2/2 + Den 1,291 $938 1 $1,165,000 $902 10/26/2015 718 Long Bridge 416 2/2 + Den 1,387 $953 1 $1,288,500 $929 10/26/2015 718 Long Bridge 417 2/2 + Den 1,380 $953 1 $1,246,500 $903 10/26/2015 718 Long Bridge 418 2/2 + Den 1,387 $953 1 $1,301,500 $938 10/26/2015 718 Long Bridge 419 2/2 + Den 1,386 $953 1 $1,301,000 $939 10/26/2015 718 Long Bridge 420 3/3 + Den 1,973 $1,057 1 $1,833,000 $929 10/26/2015 718 Long Bridge 421 2/2 + Den 1,265 $938 1 $1,163,000 $919 10/26/2015 718 Long Bridge 422 2/2 1,111 $920 1 $1,044,500 $940 10/26/2015 718 Long Bridge 423 1/1 + Den 880 $884 1 $855,000 $972 10/26/2015 718 Long Bridge 424 2/2 1,247 $938 1 $1,152,000 $924 10/26/2015 738 Long Bridge 404 2/2 + Den 1,292 $938 1 $1,165,500 $902 10/26/2015 738 Long Bridge 405 2/2 + Den 1,310 $953 1 $1,177,500 $899 10/26/2015 738 Long Bridge 406 2/2 + Den 1,438 $969 1 $1,238,000 $861 10/26/2015 738 Long Bridge 407 2/2 + Den 1,614 $1,003 1 $1,384,000 $857 10/26/2015 738 Long Bridge 408 2/2 1,261 $938 1 $1,189,000 $943 10/26/2015 738 Long Bridge 409 2/2 + Den 1,481 $969 1 $1,244,500 $840 10/26/2015 738 Long Bridge 410 2/2 1,560 $989 1 $1,279,500 $820 10/26/2015 738 Long Bridge 411 2/2 1,544 $989 1 $1,377,500 $892 10/26/2015 738 Long Bridge 412 2/2 + Den 1,379 $953 1 $1,283,000 $930 10/26/2015 738 Long Bridge 413 1/2 + Den 1,168 $920 1 $961,500 $823 10/26/2015 738 Long Bridge 415 2/2 + Den 1,378 $953 1 $1,295,000 $940 10/26/2015 718 Long Bridge 301 1/1 + Den 889 $884 1 $818,000 $920 10/23/2015 718 Long Bridge 302 2/2 + Den 1,291 $938 1 $1,137,500 $881 10/23/2015 718 Long Bridge 303 2/2 + Den 1,290 $938 1 $1,137,000 $881 10/23/2015 718 Long Bridge 317 2/2 + Den 1,378 $953 1 $1,272,500 $923 10/23/2015 718 Long Bridge 318 2/2 + Den 1,378 $953 1 $1,272,500 $923 10/23/2015 718 Long Bridge 319 2/2 + Den 1,378 $953 1 $1,297,500 $942 10/23/2015 718 Long Bridge 320 3/3 + Den 1,970 $1,057 1 $1,909,000 $969 10/23/2015 718 Long Bridge 322 2/2 1,128 $920 1 $986,000 $874 10/23/2015 718 Long Bridge 323 1/1 + Den 885 $884 1 $816,500 $923 10/23/2015 718 Long Bridge 324 2/2 1,247 $938 1 $1,125,000 $902 10/23/2015 738 Long Bridge 305 2/2 + Den 1,310 $953 1 $1,127,500 $861 10/23/2015 738 Long Bridge 306 2/2 + Den 1,438 $969 1 $1,174,500 $817 10/23/2015 738 Long Bridge 308 2/2 1,263 $938 1 $1,145,500 $907 10/23/2015 738 Long Bridge 309 2/2 + Den 1,480 $969 1 $1,295,000 $875 10/23/2015 738 Long Bridge 310 2/2 1,560 $989 1 $1,255,000 $804 10/23/2015 738 Long Bridge 311 2/2 1,572 $989 1 $1,372,500 $873 10/23/2015 738 Long Bridge 312 2/2 + Den 1,407 $969 1 $1,318,000 $937 10/23/2015 738 Long Bridge 315 2/2 + Den 1,372 $953 1 $1,293,500 $943 10/23/2015 718 Long Bridge 200 1/1 + Den 891 $884 1 $803,500 $902 10/21/2015 718 Long Bridge 201 2/2 + Den 1,290 $938 1 $1,088,000 $843 10/21/2015 718 Long Bridge 202 2/2 + Den 1,290 $938 1 $1,109,500 $860 10/21/2015 718 Long Bridge 216 2/2 + Den 1,376 $953 1 $1,273,000 $925 10/21/2015 718 Long Bridge 217 2/2 + Den 1,376 $953 1 $1,273,000 $925 10/21/2015 718 Long Bridge 218 3/3 + Den 1,962 $1,057 1 $1,869,000 $953 10/21/2015 718 Long Bridge 219 1/1 + Den 1,251 $938 1 $891,000 $712 10/21/2015 718 Long Bridge 220 1/1 875 $884 1 $783,500 $895 10/21/2015 738 Long Bridge 203 2/2 + Den 1,290 $938 1 $1,109,500 $860 10/21/2015 738 Long Bridge 206 3/3 1,877 $1,035 1 $1,553,500 $828 10/21/2015 738 Long Bridge 208 2/2 1,559 $989 1 $1,280,500 $821 10/21/2015 718 Long Bridge 100 1/1 + Den 839 $884 1 $781,176 $931 10/16/2015 718 Long Bridge 102 2/2 + Den 1,214 $938 1 $974,500 $803 10/16/2015 718 Long Bridge 113 2/2 + Den 1,291 $938 1 $1,114,000 $863 10/16/2015 738 Long Bridge 110 1/2 + Den 1,119 $920 1 $908,500 $812 10/16/2015 738 Long Bridge 304 2/2 + Den 1,292 $938 1 $1,138,000 $881 10/13/2015 738 Long Bridge 613 2/2 1,281 $938 1 $1,144,000 $893 9/25/2015 718 Long Bridge 1402 2/2 + Den 1,407 $969 1 $1,575,000 $1,119 9/23/2015

*HOA dues are approximate. ARDEN CLOSINGS CONTINUED ON FOLLOWING PAGE...

PG.34 SAN FRANCISCO RESIDENTIAL DEVELOPMENT JUNE 2016 CLICK TO RETURN TO THE NAVIGATION PAGE DEVELOPMENT SNAPSHOT Currently Selling CLOSING DETAILS - ARDEN

Unit Type SqFt HOA $* Parking Closing Price $/SqFt Sale Date 738 Long Bridge 106 1/1 888 $884 1 $760,000 $856 10/16/15 738 Long Bridge 1511 2/2 1,018 $897 1 $1,181,500 $1,161 12/3/15 738 Long Bridge 313 1/2 + Den 1,155 $920 1 $940,500 $814 10/23/15 738 Long Bridge 211 1/2 + Den 1,163 $920 1 $998,500 $859 10/21/15 738 Long Bridge 714 2/2 1,170 $920 1 $1,090,000 $932 11/9/15 738 Long Bridge 104 2/2 + Den 1,200 $938 1 $986,000 $822 10/15/15 738 Long Bridge 512 2/2 1,206 $938 1 $1,146,500 $951 10/27/15 718 Long Bridge 101 2/2 + Den 1,221 $938 1 $1,029,000 $843 9/25/15 718 Long Bridge 221 2/2 1,239 $938 1 $1,093,000 $882 10/21/15 738 Long Bridge 915 2/2 1,249 $938 1 $1,487,500 $1,191 11/16/15 738 Long Bridge 510 2/2 1,257 $938 1 $1,498,000 $1,192 1/20/16 718 Long Bridge 321 2/2 + Den 1,263 $938 1 $1,140,000 $903 10/23/15 738 Long Bridge 511 2/2 1,264 $938 1 $1,129,000 $893 10/27/15 738 Long Bridge 109 2/2 + Den 1,270 $938 1 $1,058,000 $833 10/16/15 738 Long Bridge 111 2/2 + Den 1,281 $938 1 $1,096,500 $856 10/16/15 738 Long Bridge 1208 2/2 1,285 $938 1 $1,460,000 $1,136 11/20/15 738 Long Bridge 513 2/2 1,285 $938 1 $1,167,500 $909 10/27/15 718 Long Bridge 114 2/2 + Den 1,288 $938 1 $1,101,000 $855 10/16/15 718 Long Bridge 116 2/2 + Den 1,289 $938 1 $1,135,000 $881 10/16/15 738 Long Bridge 112 2/2 + Den 1,290 $938 1 $1,135,500 $880 10/16/15 718 Long Bridge 115 2/2 + Den 1,291 $938 1 $1,114,000 $863 10/16/15 738 Long Bridge 204 2/2 + Den 1,309 $953 1 $1,100,000 $840 10/21/15 738 Long Bridge 908 2/2 1,310 $953 1 $1,289,000 $984 11/16/15 738 Long Bridge 907 2/2 1,312 $953 1 $1,421,500 $1,083 11/16/15 718 Long Bridge 1500 2/2 1,327 $953 1 $1,530,500 $1,153 12/3/15 738 Long Bridge 806 2/2 + Den 1,328 $953 1 $1,650,000 $1,242 3/3/16 738 Long Bridge 906 2/2 1,328 $953 1 $1,468,500 $1,106 11/16/15 718 Long Bridge 800 2/2 1,331 $953 1 $1,315,500 $988 11/9/15 718 Long Bridge 606 2/2 + Den 1,364 $953 1 $1,275,000 $935 11/4/15 738 Long Bridge 314 2/2 + Den 1,364 $953 1 $1,262,500 $926 10/23/15 738 Long Bridge 212 2/2 + Den 1,366 $953 1 $1,241,500 $909 10/21/15 738 Long Bridge 414 2/2 + Den 1,370 $953 1 $1,239,500 $905 10/26/15 718 Long Bridge 214 2/2 + Den 1,374 $953 1 $1,246,500 $907 10/21/15 738 Long Bridge 213 2/2 + Den 1,374 $953 1 $1,246,000 $907 10/21/15 718 Long Bridge 215 2/2 + Den 1,376 $953 1 $1,273,000 $925 10/21/15 738 Long Bridge 105 2/2 + Den 1,402 $969 1 $1,163,500 $830 10/16/15 738 Long Bridge 107 2/2 + Den 1,415 $969 1 $1,179,500 $834 10/16/15 738 Long Bridge 716 2/2 + Den 1,425 $969 1 $1,440,500 $1,011 11/9/15 738 Long Bridge 917 2/2 1,436 $969 1 $1,575,500 $1,097 11/16/15 738 Long Bridge 205 2/2 + Den 1,437 $969 1 $1,180,500 $822 10/21/15 738 Long Bridge 1010 2/2 1,452 $969 1 $1,790,100 $1,233 3/9/16 738 Long Bridge 1210 2/2 1,459 $969 1 $1,691,500 $1,159 11/20/15 718 Long Bridge 1604 2/2 + Den 1,463 $969 1 $1,828,500 $1,250 12/3/15 718 Long Bridge 1404 2/2 + Den 1,463 $969 1 $1,673,000 $1,144 11/23/15 738 Long Bridge 108 2/2 1,500 $989 1 $1,290,500 $860 10/16/15 738 Long Bridge 1607 3/2 1,668 $1,003 1 $1,969,000 $1,180 2/3/15 718 Long Bridge 117 3/3 1,754 $1,027 1 $1,594,500 $909 10/16/15

*HOA dues are approximate.

PG.35 SAN FRANCISCO RESIDENTIAL DEVELOPMENT JUNE 2016 CLICK TO RETURN TO THE NAVIGATION PAGE

DEVELOPMENT SNAPSHOT Resale

MILLENNIUM TOWER

301 Mission Street at Fremont | SOMA Average $/SqFt (closings): $1,669 Developer: Millennium Partners Architect: Handel Architects Project info: 419 units, 58-story high-rise & 11-story mid-rise Date on market: November 2007 Sold-out: April 2013 Amenities: Concierge, resident’s lounge, tasting room and cellar, private dining room, screening room, children’s playroom, outdoor terrace, 5,500 square- foot fitness center with Pilates/yoga studios/massage service/locker rooms/spa room/steam room/75-foot indoor lap pool Finishes: Hardwood floors, Studio Becker cabinetry, marble/quartzite counter tops, Sub-Zero/Wolfe/Miele/ GE/Bosch/U-Line appliances

CLOSING DETAILS

Unit Type SqFt HOA $ Parking Closing Price $/SqFt Closing Date 7C 1/1 833 $1,157 0 $1,050,000 $1,261 5/23/16 606 1/2 1,633 $2,127 1 $1,900,000 $1,164 3/17/16 704 2/2 1,485 $2,106 1 $2,100,000 $1,414 4/20/16 31E 2/2 1,714 $2,055 1 $2,300,000 $1,342 4/19/16 601 2/2 1,955 $2,178 1 $2,600,000 $1,330 1/22/16 38B 2/2 1,652 $2,041 1 $2,700,000 $1,634 4/18/16 45D 2/3 + Den 2,053 $2,083 1 $3,900,000 $1,900 4/14/16 33C 3/3.5 2,170 $2,114 1 $3,500,000 $1,613 3/31/16 49B 3/3.5 3,315 $2,626 2 $8,000,000 $2,413 4/29/16

*HOA dues include parking fees.

PG.36 SAN FRANCISCO RESIDENTIAL DEVELOPMENT JUNE 2016 CLICK TO RETURN TO THE NAVIGATION PAGE

DEVELOPMENT SNAPSHOT Resale

ONE RINCON HILL

425 1st Street | SOMA & 489 Harrison Street Average $/SqFt (closings): $1,628 Developer: Urban West Associates Architect: SCB Project info: 376 units, 60-stories Date on market: January 2006 Sold-out: November 2012 Finishes: Hardwood floors, Del Tongo cabinetry, Sub- Zero refrigerators, Bosch appliances Amenities: 24-hour doorman, concierge, high-speed Internet access, fitness center, resident’s lounge with catering kitchen, valet parking, full-size swimming pool, outdoor kitchen, outdoor fireplace

CLOSING DETAILS

Unit Type SqFt HOA $ Parking Closing Price $/SqFt Closing Date 4905 1/1 710 $808 1 $1,007,000 $1,418 1/4/16 802 2/2 1,309 $875 1 $1,340,000 $1,024 12/22/15 3206 2/2 1,238 $870 1 $1,800,000 $1,454 2/12/16 1902 2/2 1,309 $878 1 $2,190,000 $1,673 3/4/16 6003 3/2 1,677 $921 1 $3,700,000 $2,206 2/29/16 4202 2/2 1,309 $878 1 $2,399,999 $1,833 4/29/16 2507 1/1 819 $821 1 $1,190,000 $1,453 4/11/16

PG.37 SAN FRANCISCO RESIDENTIAL DEVELOPMENT JUNE 2016 CLICK TO RETURN TO THE NAVIGATION PAGE UPCOMING CONDOMINIUM DEVELOPMENTS

SALES DEVELOPMENT DEVELOPER AREA UNITS COMMENCE

Shipley House - 236 Shipley Street at 5th V Shipley Street LLC South of Market 15 Q2 2016

1450 Franklin Street at Bush Village Properties Western Addition 67 Q2 2016

Rowan - 346 Potrero Avenue at 16th Trumark Urban Potrero Hill 70 Q3 2016

3420 18th Street at San Carlos Deimon LLC Mission 16 Q3 2016

The Pacific (main building) - 2155 Webster Deimon LLC Pacific Heights 66 Q3 2016 Street

Knox - 645 Texas Street at 22nd Trumark Urban Potrero Hill 91 Q3 2016

LagunaHayes - 580 Hayes Street at Laguna Village Properties Hayes Valley 29 Q4 2016

The Austin - 1545 Pine Street at Van Ness Pacific Eagle Holdings Nob Hill 103 Q4 2016

1450 15th Street at Shotwell Denis McMahon Mission 23 Q4 2016

690 Page Street at Steiner Page Steiner Associates Lower Haight 12 Q4 2016

Butterfly Real Estate Invest- 1490 Ocean Avenue Westwood Park 15 Q1 2017 ments - Amit Haller

923 Folsom Street at 5th 923 Folsom Acquisition LLC South of Market 114 Q1 2017

119 7th Street at Minna Fulton Street Ventures South of Market 39 Q2 2017

99 Rausch Street at Folsom Pillar Capital South of Market 112 Q3 2017

1731 Powell Street at Columbus Joel Campos North Beach 18 Q3 2017

241 10th Street at Howard JS Sullivan South of Market 28 Q3 2017

1198 Valencia Street at 23rd JS Sullivan Mission 52 Q4 2017

ROWANTHETHE PACIFIC PACIFIC 1450 FRANKLIN

SHIPLEY HOUSE

D-SCHEME FREDERICK MEYER

PG.38 SAN FRANCISCO RESIDENTIAL DEVELOPMENT JUNE 2016 CLICK TO RETURN TO THE NAVIGATION PAGE UPCOMING APARTMENT DEVELOPMENTS

LEASING DEVELOPMENT DEVELOPER AREA UNITS COMMENCES The Civic - 101 Polk Street at Hayes Emerald Fund Mid-Market 162 LEASING Potrero 1010 - 1000 16th Street at Missouri Equity Residential Potrero Hill 453 LEASING 399 Fremont Street at Harrison UDR/MetLife South of Market 447 LEASING Olume - 1401 Mission Street at 10th Monogram South of Market 117 LEASING 340 Fremont Street at Folsom Equity Residential South of Market 332 LEASING Solaire - 299 Fremont Street at Folsom Golub and Company Transbay 472 LEASING 480 Potrero Avenue at Mariposa SST Investments LLC Mission 84 LEASING 5800 Third Street - Phase II TruAmerica/MSD Capital Bayview 136 LEASING 1868 Van Ness Avenue at Sacramento N/A Van Ness Corridor 35 Q2 2016 The Duboce - 181 Sanchez Street at Market Greystar Upper Market 87 Q2 2016 1601 Larkin Street at Clay John McInerney Nob Hill 27 Q2 2016 350 8th Street at Harrison AIG/Associated Estates South of Market 408 Q2 2016 1050 Valencia Street at Hill Valencia Hill LLC Mission 12 Q2 2016 832 Sutter Street at Jones N/A Lower Nob Hill 20 Q2 2016 Vela - 2353 Lombard Street at Scott Realty Equities Marina 21 Q2 2016 Eviva - 360 Berry Street at 5th Integral Group/Argosy RE Mission Bay 129 Q2 2016 233 Shipley Street Steve Chan South of Market 21 Q3 2016 1 Henry Adams at Division Equity Residential Design District 241 Q3 2016 O&M - 660 Indiana Street at 19th Build Inc. Dogpatch 116 Q4 2016 570 Jessie Street at 6th LLC South of Market 47 Q1 2017 1201 Tennessee Street at 22nd AGI/Avant Housing Dogpatch 259 Q1 2017 855 Brannan Street at 8th Equity Residential South of Market 432 Q1 2017 Trinity Place III - 1169 Market Street at 8th Trinity Properties South of Market 541 Q1 2017 200 6th Street (Affordable) Mercy Housing South of Market 67 Q2 2017 600 South Van Ness Avenue at 17th Toboni Group Mission 27 Q2 2017 41 Tehama Street at 1st Hines/Invesco South of Market 407 Q3 2017 800 Indiana Street at 20th Avalon Bay/Build Inc. Dogpatch 326 Q3 2018

POTRERO 1010

O&M

PFAU LONG AND KENNERLY ARCHITECTURE DAVID BAKER ARCHITECTS

PG.39 SAN FRANCISCO RESIDENTIAL DEVELOPMENT JUNE 2016 CLICK TO RETURN TO THE NAVIGATION PAGE RESIDENTIAL PIPELINE SUMMARY

APPROVED, UNDER REVIEW AND CONCEPTUAL Area Approved Under Review Conceptual Bayview/Hunters Point/Candlestick Point 10,975 1,532 2,940 Dogpatch 2,243 475 0 Hayes Valley 0 414 24 Mid-Market 231 2,671 596 Mission 153 2,116 195 Mission Bay 170 1,642 0 Northern Neighborhoods* 151 1,614 183 Potrero Hill 527 1,021 278 South of Market 2,160 5,119 1,880 Southern Neighborhoods* 0 86 231 Tenderloin 626 465 0 Transbay 1,334 577 200 Treasure Island 8,619 0 0 Upper Market 24 236 0 Van Ness Corridor 0 1,653 0 Visitacion Valley 1,679 1,120 0 Western Neighborhoods* 8,984 661 750 Totals 37,876 21,402 7,277

UNDER CONSTRUCTION (BY PRODUCT TYPE) Pre-selling Area Condominiums Apartments All Types Condominiums Bayview/Hunters Point/Candlestick Point 139 0 0 139 Dogpatch 0 0 701 701 Hayes Valley 243 29 0 272 Mid-Market 0 0 0 0 Mission 0 39 39 78 Mission Bay 350 0 129 479 Northern Neighborhoods* 341 266 103 710 Potrero Hill 0 161 0 161 South of Market 0 280 2,164 2,444 Southern Neighborhoods* 0 15 0 15 Transbay 67 0 0 67 Upper Market 0 0 87 87 Van Ness Corridor 0 0 0 0 Totals 1,140 790 3,223 5,153

* Northern Neighborhoods covers Cathedral Hill, Western Addition, Pacific Heights, Nob Hill, Lower Nob Hill, Financial District, Russian Hill, Telegraph Hill, North Beach & Marina/Cow Hollow Southern Neighborhoods covers Oceanview, Glen Park, Ingleside, Mission Terrace, Outer Mission. Western Neighborhoods covers Park Merced, Parkside, Forest Knolls, Richmond, Sunset, Laurel Heights. The Pipeline Summary includes Below Market Rate units.

PG.40 SAN FRANCISCO RESIDENTIAL DEVELOPMENT JUNE 2016 CLICK TO RETURN TO THE NAVIGATION PAGE PROJECTED AND HISTORICAL SUPPLY

PROJECTED AVAILABLE INVENTORY

2,290

1,675 2,297 1,585

1,434 1,334 1,284 1,127 1,005 495 733 463

Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017

New Condominiums New Apartments

HISTORICAL CONDOMINIUM INVENTORY

1,112 1,038

831 828 766 758 702

AVAILABLE UNITS AVAILABLE 540 514 516 473 450

HISTORICAL YE ARLY PRODUCTION

4,407 3,896 3,366 3,019 2,730 2,260 2,197 2,330 1,872 1,859 1,780 1,619 1,675

ALL UNIT UNIT TYPES ALL 1,225 1,082 909 906 909 794 532 348

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

* 2016 figure current through Q1 2016, and include Below Market Rate units.

PG.41 SAN FRANCISCO RESIDENTIAL DEVELOPMENT JUNE 2016 VANGUARD PROPERTIES LEADERS BY DESIGN

SAN FRANCISCO OFFICES 2501 Mission Street (Flagship) San Francisco, CA 94110 415.321.7000

199 New Montgomery Street (SOMA) San Francisco, CA 94105 415.321.5300

555 Castro Street (Castro) San Francisco, CA 94114 415.655.5600

1801 Fillmore Street (Lower Pac Heights) San Francisco, CA 94115 415.563.5900

VANGUARD PROPERTIES REPORT DISCLAIMER Data and image sources for this Report include but are not limited to SFAR MLS, the San Francisco Planning De-partment, development marketing websites and industry news/information outlets. The information in this Report is subject to errors, as it is compiled from multiple sources, with varying degrees of accuracy and currency. This Report should not be reproduced or distributed, in whole or in part, without the prior written consent of Vanguard Proper-ties. The statements in this Report, which are not historical facts, are projections or estimates based on Vanguard Properties’ opinions and expectations of future market performance. Although the information presented is believed to be correct, no representation is made by Vanguard Properties as to the accuracy or completeness of the informa-tion. The information presented may be subject to updating, revision or verification, and such information may change in a material nature. This is not an offer to rent or sell property, and is intended for information purposes only. This Report should not be relied upon or utilized in making investment decisions. ©2016 Vanguard Properties, All rights reserved. BRE License No. 01486075. Equal Housing Opportunity