The Mark Company Standard Monthly Reports Los Angeles

May 2013 Contents

Executive Summary Currently Selling Developments Resale Developments Pipeline Report TMC Disclaimer

Notes 1) Currently Selling is defined as a new construction residential project selling for the first time or a project in which units have never been lived in as owner-occupied.

2) Resale is defined as a residential unit that has been sold at least once before and has previously been lived in.

3) This report covers Currently Selling residential developments with 20+ Market Rate units and Resale residential developments with 50+ Market Rate units located in Downtown Los Angeles and along the Golden Mile.

4) Assume that projects located in the Currently Selling section are actively selling units unless noted otherwise.

5) Date On Market refers to the date the Sales Center opened.

6) Average Absorption is calculated from Date On Market through the first of the month prior to the date of the report. It accounts for units both in contract and closed.

7) Average Price/SF is calculated using only units where both square footage and price are known. Average Price/SF is defined as the average price divided by the average square footage. Averages are weighted averages.

8) Developments are considered Sold Out once the last Market Rate unit has closed OR there have been six months without a closing, all units are in contract and the Sales Center is closed (e.g. there is no active marketing). At that point, projects will be moved to the Resale section and tracked for resale closings.

9) Market Rate Units Available in the Pipeline Report refers to the estimated number of Market Rate units available for sale at the development (e.g. not in contract or closed).

10) Marketing to Commence in the Pipeline Report refers to the date that the Sales Center is expected to open for projects that are Currently Under Construction.

11) Completion Date in the Pipeline Report refers to the expected date of completion for a project that is Approved and/or Under Review.

11) Below Market Rate units are omitted from the new construction and resale closings.

Standard Monthly Reports - Los Angeles - May 2013 Executive Summary

New Construction Summary - March Closings

# of Average Size Average Unit Type Price Range $/SF Sales Size (SF) Range Price Studio / Junior One Bedroom 0 n/a n/a n/a n/a n/a One Bedroom 8 1,343 1,000 - 1,910 $725,125 $429,000 - $1,190,000 $540 Two Bedroom 18 1,594 1,190 - 2,603 $848,333 $515,000 - $1,675,000 $532 Three (or more) Bedroom 7 1,704 1,690 - 1,730 $896,857 $769,000 - $1,040,000 $526 Other (Unknown Type) 0 n/a n/a n/a n/a n/a All Types 33 1,566 1,000 - 2,603 $828,758 $429,000 - $1,675,000 $532

Resale Summary (Downtown Los Angeles & Golden Mile) - March Closings

# of Average Size Average Unit Type Price Range $/SF Sales Size (SF) Range Price Studio / Junior One Bedroom 4 862 481 - 1,130 $315,375 $160,000 - $426,000 $364 One Bedroom 18 1,066 481 - 1,778 $465,363 $225,500 - $839,000 $436 Two Bedroom 10 1,887 880 - 2,867 $871,000 $450,000 - $2,100,000 $462 Three (or more) Bedroom 4 1,881 1,400 - 2,608 $687,000 $518,000 - $1,060,000 $365 Other (Unknown Type) 0 n/a n/a n/a n/a n/a All Types 36 1,362 481 - 2,867 $586,001 $160,000 - $2,100,000 $430

Pipeline Summary

Currently Under Product Type Approved Under Review Selling Construction Condominium 354 14 6 4,195 5,931 Rental - 3,941 3,952 3,089 On Hold - Market Rate 0 82 1,234 908 On Hold - Rental - 0 0 0 All Types 354 4,169 9,381 9,928

Standard Monthly Reports - Los Angeles - May 2013 Currently Selling The following section contains sales information and updates for currently selling developments with 20+ Market Rate units located in Los Angeles’ Downtown, Hollywood, Koreatown/Wilshire Center and West Los Angeles Luxury areas.

Project List Downtown Los Angeles 655 Hope 940 East 2nd Street Evo Gallery Lofts The Beacon Lofts The Ritz-Carlton Residences at L.A. LIVE Hollywood & West Hollywood The Hollywood The W Hollywood Koreatown / Wilshire Center Solair West Los Angeles Luxury Beverly West Montage Beverly Hills The Carlyle Residences The Century

Standard Monthly Reports - Los Angeles - May 2013 4 available Developer SECK LLC Group, Fees HOA Average $600 -$780/month Absorption Average 1 unit/month Last Six Months Price/SF units) $542 (14 n contract 4 i closed 72 Address Street 655 Hope Units Total 80 Date on Market July 2007 Closings Commenced September 2010 Sales status through March 2013 Sales status March through 2013. during March no closings reported were There Standard Monthly Reports - Los Angeles - May 2013 Standard Monthly Reports - Los Two Bedroom Two $454,000 - $795,000 Starting List Price: - 1,233 SF Size: 1,178 Average Starting List Price/SF: $385 - $645 One Bedroom - $505,000 $319,000 Starting List Price: SF Size: 636Average - 678 Starting List Price/SF: $502 - $745 a wet bar, business center, helicopter landing pad on the business center, a wet bar, parking garage. rooftop, community room and a covered a 3.0 percent broker developer is offering The cooperation. May 2013: list prices dated Available Interior appointments include hardwood flooring, Interior appointments include hardwood dark wood floor-to-ceiling windows, granite countertops, stainless steel cabinetry with under-cabinet lighting, amenities appliances and walk-in closets. Community valet center, consist of doorman service, a fitness zone with entertainment parking, smartwiring, roof deck 655 Hope floors 6 one- and two-story homes on 655 Hope offers downtown of a commercial office building in through 17 600 between approximately Angeles. Homes range Los and 1,268 in size. square feet CURRENTLY SELLING Date Closed 3/5/2013 3/27/2013 3/29/2013 3/22/2013 0 available $447 $522 $559 $508 $484 $/SF

Owner Canyon Johnson Urban Funds Fees HOA Average $338/month Absorption Average 2 units/month Last Six Months Price/SF $495 units) (7 Price Closing $595,000 n contract $1,085,000 $1,285,000 $1,200,000 $1,260,000 March 2013 March 1 i

SF 2,136 2,146 1,332 2,603 2,463 2/2.5 2/2.5 2/2.5 2/2.5 Type closed 37 6 37 26 38 Unit Address 940 East 2nd Street Units Total 38 Date on Market June 2011 Closings Commenced November 2011 Averages: Sales status through March 2013 Sales status March through Closed sales during - (All Units In Contract) Standard Monthly Reports - Los Angeles - May 2013 Standard Monthly Reports - Los All units are in contract. The project will be removed from project All units are in contract. The have closed the Currently Selling section once all units a closing escrow or six months have passed without reported. Interior finishes include CaesarStone countertops, Interior finishes include CaesarStone Energy Efficient stainless European-designed kitchens, wool carpet steel appliances and concrete, oak or townhomes range in size The two-bedroom flooring. from 1,285 to 2,603 square feet. 940 East 2nd Street 940 Barn Lofts, called Street offers East 2nd Formerly Angeles’ 38 Los in downtown lofts. Located townhome walls, cus brick original Arts District, the homes feature clerestory tom made doors and windows and operable windows. CURRENTLY SELLING Developer SouthThe Group Fees HOA Average $500 - $800/month Absorption Average 5 units/month Last Six Months Price/SF (3 units) $618 Information Unavailable 302 closed Address S. Grand Avenue 1155 Units Total 3 11 Date on Market July 2007 Closings Commenced October 2008 Sales status through March 2013 Sales status March through 2013. during March no closings reported were There Standard Monthly Reports - Los Angeles - May 2013 Standard Monthly Reports - Los construction techniques, Evo became the first LEED- Evo became the first construction techniques, Los certified residential high-rise building in downtown Angeles. Wi-Fi Internet in the common areas and three levels of Wi-Fi consist of a subterranean parking. Rooftop amenities barbeque pool, poolside cabanas, outdoor fireplace, and fitness center. areas, media room, entertainment bar use of sustainable materials and energy-efficient With kitchens boast kitchens CaesarStone countertops with matching steel ovens, cooktops and stainless backsplashes, and stainless steel refrigerators dishwashers by Bosch in the penthouses come with Viking by Amana. Kitchens stainless steel appliances. security, 24-hour attended lobby, project includes an The has two-story townhomes. in size to 3,500 square feet 730 homes range from The ceilings, performance-glazed up to 11-foot and feature balconies and operable windows, walk-in closets, Juliet The of finishes. Millennium hardwood floors in a variety Evo of sculpted glass and metal panels, Evo its façade With “South” South of The marks the third phase Group’s neighborhood. Evo is a ground-up, new construction feature Luma, first two projects, Elleven and project. The lofts, Evo also soft-loft designs. In addition to featuring CURRENTLY SELLING 0 available Owner Companies Pacifica Fees HOA Average $265 - $350/month Absorption Average <1 unit/month Last Six Months Price/SF units) $324 (12 13 in contract 20 closed Address Hewitt Street 120-130 Units Total 33 Date on Market April 2011 Closings Commenced August 2012 Sales status through March 2013 Sales status March through 2013. during March no closings reported were There (All Units In Contract) outside their door. project will be removed The is sold out. Gallery Lofts all units have from the Currently Selling section once without a closed escrow or six months have passed closing reported. The lofts feature 18-26 foot cathedral ceilings, maple 18-26 lofts feature The countertops flooring, stainless steel appliances, granite open floor plans range from The and custom cabinetry. 800 in size. Residents will have to 2,500 square feet array of access to secure, gated parking and an options right shopping, dining, cultural and transportation Gallery Lofts Gallery Lofts First Hewitt named property rental a as planned Formerly heart of downtown is located in the Gallery Lofts Lofts, 33-unit adaptive District. The Angeles’ vibrant Arts Los re-use project is spread across two buildings. Standard Monthly Reports - Los Angeles - May 2013 Standard Monthly Reports - Los CURRENTLY SELLING Date Closed 3/22/2013 3/22/2013 0 available $416 $429 $404 $/SF

Developer Pilavjian Peklar Fees HOA Average Unknown Absorption Average 52 units/month Last Six Months Price/SF $400 units) (4 Price n contract Closing $434,000 $429,000 $439,000 March 2013 March

49 i SF 1,087 1,044 1,000 1/1 1/1 Type closed 4 101 103 Unit Address 4th Street 825 East Units Total 53 Date on Market November 2012 Closings Commenced 2013 February Averages: Sales status through March 2013 Sales status March through Closed sales during (All Units In Contract) Standard Monthly Reports - Los Angeles - May 2013 Standard Monthly Reports - Los top deck with a hot tub and grilling area. with a hot tub top deck project will be removed The is sold out. Beacon Lofts all units have from the Currently Selling section once without a closed escrow or six months have passed closing reported. The Beacon Lofts Beacon Lofts The of live/work artist lofts is a collection Beacon Lofts The in Angeles Arts District. Located in the Downtown Los the one- and two- industrial building, a historic 1920s high ceilings, concrete floors bedroom homes feature access to a roof and open floor plans. Residents have CURRENTLY SELLING Date Closed 3/7/2013 3/4/2013 3/29/2013 3/29/2013 60 available $817 $738 $822 $863 $806 $/SF

Developer AEG; Ritz-Carlton Fees HOA Average - $4,260/month $1,700 Absorption Average 2 units/month Last Six Months Price/SF units) $844 (22 available Price Closing $770,000 $1,190,000 $1,675,000 $1,271,250 $1,450,000 March 2013 March

11 in contract SF 1,763 1,476 1,556 1,044 1,940 2/2.5 2/1.5 1/1.5 1/1.5 Type 153 closed 30I 30F 38B 34H Unit Address & Olympic Boulevard W. Street Francisco Units Total 224 Date on Market May 2007 Closings Commenced 2011 February Averages: Closed sales during Sales status through March 2013 Sales status March through cooperation rate. Available homes are priced from cooperation rate. Available sale of 63 units that was a bulk There $1,070,000. Closing details are closed escrow in September 2012. not yet available. and entertainment venues, including a bowlingand entertainment venues, including a alley development includes and the Grammy Museum. The of commercial office space and a square feet 150,000 Coast square foot building that houses the West 120,000 broadcasting studios for ESPN. a 3.0 percent broker developer is offering The and entertainment destination site adjacent to the and entertainment destination site adjacent Angeles Convention Center and the Los STAPLES Center. Nokia Regal Cineplex, showcases a L.A. LIVE luxury apartments, upscale eateries, other retail Theater, The Ritz-CarltonThe at L.A. LIVE Residences 50, with residences occupy floors 27 through The and 52nd floors. Below the 51st penthouses occupying Ritz- Ritz-CarltonThe Residences will be a 123-room Hotel. L.A. Marriott J.W. Carlton Hotel and 878-room four million square foot sports is an approximately LIVE Standard Monthly Reports - Los Angeles - May 2013 Standard Monthly Reports - Los CURRENTLY SELLING Date (since re-opening) Closed 3/11/2013 3/11/2013 3/29/2013 3/29/2013 3/29/2013 3/29/2013 24 available $417 $417 $423 $426 $433 $454 $399 $/SF

Owner PEI III Asset Pool Fees HOA Average $700/month Absorption Average <1 unit/month Last Six Months Price/SF units) $453 (11 Price $515,000 Closing $579,000 $579,000 $558,833 $545,000 $595,000 $540,000 March 2013 March 3 in contract

SF 1,190 1,190 1,322 1,280 1,490 1,390 1,390 2/3 2/3 2/3 2/3 2/3 2/3 Type (54 total; 14 sold pre-2011) (54 total; 14 13 closed 411 201 407 202 205 402 Unit Address Street Yucca 6735 Units Total 40 Date on Market September 2011 Closings Re-Commenced December 2011 Averages: Sales status through March 2013 Sales status March through Closed sales during Starting List Price: $775,000 - $1,100,000 $775,000 Starting List Price: Size: 1,300Average - 1,500 SF Starting List Price/SF: $566 - $733 Two Bedroom Two $500,000 - $667,500 Starting List Price: Size: 1,240Average - 1,490 SF Starting List Price/SF: $403 - $448 Penthouse Approximately half of the homes are currently being half of the Approximately selling leased, but the Sales Center is now exclusively a 3.0 broker is offering developer homes. The cooperation rate and open to negotiations. May 2013: list prices dated Available Homes feature nine-foot ceilings, European terrazzo nine-foot Homes feature separate floors, Italian-manufactured custom vanities, steel powder rooms, panoramic city views, stainless with built-in air appliances and eco-intelligent fireplaces 18-foot ceilings. The penthouses have purifiers. Homes range in size from 1,200 to 2,600 square feet. restaurants, arts and entertainment venues and public restaurants, arts and entertainment venues transportation. of subterranean Building amenities include two levels resort-like pool and spa, gym parking, a two-story lobby, security cameras. and sports lounge and web-accessible The Hollywood The and 2007 Hollywood originally hit the market in The foreclosed on 54-unit building was The units. closed 14 building is now and sales were put on hold. The in 2010 ownership. The being re-released for sale under new retail shops, Hollywood is located steps from popular Standard Monthly Reports - Los Angeles - May 2013 Standard Monthly Reports - Los CURRENTLY SELLING Date Closed 3/6/2013 3/5/2013 3/15/2013 3/29/2013 3/29/2013 3/29/2013 62 available $487 $521 $583 $455 $464 $530 $398 $/SF

Owner HEI & Resorts Hotels Fees HOA Average $1,686/month Absorption Average 1 unit/month Last Six Months Price/SF $459 (29 units) Price $715,000 Closing $770,000 $870,000 $756,333 $700,000 $850,000 $633,000 March 2013 March 8 in contract

SF 1,910 1,552 1,320 1,320 1,540 1,630 1,590 1/2 1/3 2/3 2/3 1/2 1/2 Type 73 closed 73 7E 7O 9N 5N 11 B 10B Unit Address Boulevard 6282 Hollywood Units Total 143 Date on Market October 2007 Closings Commenced June 2010 Averages: Sales status through March 2013 Sales status March through Closed sales during Average Size: 1,219 - 1,942 SF Size: 1,219 Average Starting List Price/SF: $337 - $430 Bedroom Two $695,000Starting List Price: - $1,823,000 Size: 1,560Average - 1,843 SF Starting List Price/SF: $446 - $989 Kuppersbusch ovens, stoves and dishwashers. Kuppersbusch of May 2013: list prices as Available One Bedroom - $835,000 $411,000 Starting List Price: and personal chef services. Residents also have and personal chef spas and bars. signing privileges at all on-site restaurants, Poliform bathroom fixtures, Finishes include Dornbracht with Brazilian closet systems and cast iron bathtubs are appointed fossilized limestone surrounds. Kitchens kitchen Varenna with CaesarStone granite countertops, finish and energy-efficient in Wenge cabinets by Poliform adjacent to the Hollywood/Vine Metro Red Line Station. Metro Red adjacent to the Hollywood/Vine walking distance of the Kodak development is within The Awards. the official home of the Academy Theater, that converts to Amenities include a 25-yard rooftop pool fitness center a nightclub after dark, a business center, The W Hollywood The project W Hollywood is a transit-oriented, mixed-use The by Gatehouse Capital of being jointly developed City, of Foster Partners and Legacy Dallas, Texas of California. Sited at the world-famous intersection project is Street, the Hollywood Boulevard and Vine Standard Monthly Reports - Los Angeles - May 2013 Standard Monthly Reports - Los CURRENTLY SELLING Date Closed 3/8/2013 3/5/2013 3/1/2013 3/11/2013 3/15/2013 3/15/2013 3/29/2013 3/29/2013 3/29/2013 3/20/2013 21 available $551 $615 $541 $473 $579 $478 $525 $532 $550 $445 $484 $/SF

Owner Residential ST Fees HOA Average ~$852/month Absorption Average 3 units/month Last Six Months Price/SF $545 (45 units) Price Closing $915,000 $818,000 $979,000 $749,000 $724,000 $769,000 $841,500 $935,000 $822,000 $664,000 $1,040,000 March 2013 March 7 in contract

SF 1,700 1,700 1,730 1,730 1,604 1,360 1,690 1,690 1,360 1,390 1,690 3/3 2/2 3/3 3/3 3/3 2/2 2/2 3/3 3/3 3/3 Type 150 closed 1101 2 0 11 1212 1812 1701 Unit 1807 1202 2007 2202 2209 Address Boulevard Wilshire 3785 Units Total 186 Date on Market 2008March Closings Commenced June 2009 Averages: Sales status through March 2013 Sales status March through Closed sales during Standard Monthly Reports - Los Angeles - May 2013 Standard Monthly Reports - Los appliances. Community amenities will feature a 24-hour feature appliances. Community amenities will spa, swimming fitness center, lobby, concierge, sky deck, pits. pool, business lounge and outdoor fire plaza consisting of restaurants, shops, integrated parking plaza consisting of restaurants, shops, structure and on-site subway portal. Casa Interior appointments will include Bontempi hardwood and tile flooring, CaesarStone cabinetry, stainless steel and Bosch countertops with backsplashes Solair Solair in Koreatown, is a 22-story glass-wrapped Located with one-, two- and residences 186 tower featuring The residences range in size three-bedroom floor plans. from 1,339 to 1,960ground level, On the square feet. the development will include a 40,000-square foot retail CURRENTLY SELLING Owner Properties Emaar LA Fees HOA Average $5,000/month $4,500 - Absorption Average n/a Last Six Months Price/SF n/a Address Drive Club View 1200 Units Total 35 Date on Market November 2008 Closings Commenced 2012 March A sales update is not available. A sales update is Standard Monthly Reports - Los Angeles - May 2013 Standard Monthly Reports - Los Four Bedroom Four $22,332,800Starting List Price: SF Size: 7,976 Average Starting List Price/SF: $2,800 Three Bedroom Three $4,575,600 Starting List Price: SF Size: 3,813 Average Starting List Price/SF: $1,200 Available list prices as of June 2012: list prices as Available Bedroom Two $4,956,900Starting List Price: - $5,509,350 SF - 4,158 Size: 3,813 Average Starting List Price/SF: $1,300 - $1,325 feature Neff cabinetry and commercial-grade appliances. Neff cabinetry feature developed by FiField project was originally The It was purchased Club View. Companies and called 1200 in summer 2008 by Emaar LA Properties and put back on the market in November 2008. Beverly West Country Angeles to the Los is located next Beverly West 35 project’s of Beverly Hills. The Club and within a mile in square feet generously-sized homes average 4,100 two residences and size. Most of the floors are shared by Kitchens per floor. there are six floors with only one home CURRENTLY SELLING 0 available Developer Group Athens The Fees HOA Average $2,900 - $5,500/month Absorption Average <1 unit/month Last Six Months Price/SF n/a 2 in contract 18 closed Address Drive 225 N. Canon Units Total 20 Date on Market November 2008 Closings Commenced May 2009 Sales status through March 2013 Sales status March through 2013. during March no closings reported were There (All Units In Contract) Standard Monthly Reports - Los Angeles - May 2013 Standard Monthly Reports - Los All units are in contract. The project will be removed from All units are in contract. The the Currently Selling section once all units have closed escrow or six months have passed without a closing reported. garden separates the hotel from the Garden Building, a garden separates the hotel from the Garden of square feet city-owned building that will house 3,000 high-end ground-floor retail space intended for boutique of non-residential space shops and 24,000 square feet with use yet to be determined. 3,000 square feet of event space, 4,500 square feet of of event space, 4,500 square feet 3,000 square feet signature five-star retail space, a three-meal restaurant, a replete with a restaurant and a 20,000-square foot spa, 2,500-square foot fitness center. 30,000 development has over of public The square feet public The garden space split into three distinct areas. Beverly Hills during the 1920s and 1930s, the dominant the and 1930s, Beverly Hills during the 1920s project is Spanish Revival. style of the architectural hotel rooms and 20 201 Montage Beverly Hills offers penthouse condominiums. main ballroom, Amenities include a 5,000 square foot Montage Beverly Hills is a five-star hotel and residential Montage Beverly Hills 2.5-acre site between North Beverly project located on a away it one block Drive and North Canon Drive, placing Drive. from the high-end retail shops of Rodeo homes built in Reminiscent of many of the great estate CURRENTLY SELLING Developer LLC Elad Properties, Fees HOA Average ~$3,300/month Absorption Average <1 unit/month Last Six Months Price/SF n/a Information Unavailable 19 closed Address Boulevard Wilshire 10776 Units Total 78 Date on Market December 2006 Closings Commenced August 2009 Sales status through March 2013 Sales status March through 2013. during March no closings reported were There Standard Monthly Reports - Los Angeles - May 2013 Standard Monthly Reports - Los Starting List Price/SF: $860 - $1,005 Bedroom Three - $13,795,000 $3,795,000 Starting List Price: SF Size: 3,535 - 5,519 Average - $2,500 Starting List Price/SF: $1,074 floors averaging more than 5,500 square feet. floors averaging more than 5,500 square May 2013: list prices dated Available Bedroom Two $2,385,000Starting List Price: - $2,850,000 - 2,836 SF Size: 2,772 Average directly to private residence foyers. plans with high ceilings, private large floor Homes feature Miele appliances and balconies, floor-to-ceiling windows, countertops. Home sizes range from granite kitchen with penthouses on the top to 3,535 square feet, 2,722 The Carlyle Residences The rise with 78 Carlyle Residences is a 24-story high The along the “Golden Mile” of the condominiums located Amenities include a card room, Sports Corridor. Wilshire 24- wine cellar, Club/LA library, fitness center, branded opening hour valet parking and high-speed elevators CURRENTLY SELLING Developer Related Companies The Fees HOA Average $8,900/month$3,500 - Absorption Average <1 unit/month Last Six Months Price/SF units) $948 (13 Information Unavailable 64 closed* Address & Olympic Boulevard W. E. Century Park Units Total 147 Date on Market January 2008 Closings Commenced May 2010 * Two sales at The Century included two units. Number closed reflects Century included two units. Number closed sales at The * Two total number of units closed. Sales status through March 2013 Sales status March through 2013. during March no closings reported were There Standard Monthly Reports - Los Angeles - May 2013 Standard Monthly Reports - Los Starting List Price/SF: $1,099 - $1,512 Starting List Price: $4,050,000 - $12,200,000 Starting List Price: Size: 3,237 – 5,306Average SF - $2,299 Starting List Price/SF: $1,251 Bedroom Four - $6,800,000 $5,100,000 Starting List Price: – 4,642 SF Size: 4,497 Average Two Bedroom Two - $4,675,000 $2,475,000 Starting List Price: - 3,455 SF Size: 2,481 Average Starting List Price/SF: $998 - $1,353 Bedroom Three center, wine storage, private dining room and bar, an wine storage, private dining room and bar, center, lap pool and pool outdoor onsite restaurant and a 75-foot developer is The with poolside cabanas. deck broker cooperation rate. a 2.5 percent offering May 2013: list prices dated Available designed by famed architect Robert A.M. Stern and designed by famed architect design with fluted columns an elliptical shaped features and protruding eyebrow lintels. private treatment Amenities include a fitness center with playroom, business rooms, screening room, children’s The Century The homes ranging in size from 147 Century features The square 2,400 to 10,000 for a two-bedroom feet square The 42-story tower is for a full floor penthouse. feet the building nestled within a four-acre garden, insulating Century was from the bustling street scene. The CURRENTLY SELLING Resales The following section contains closed resale information for sold out projects in Downtown Los Angeles and along the Golden Mile.

Downtown Los Angeles Golden Mile Savoy 10560 Wilshire Boulevard Higgins Building Blair House Grand Lofts La Tour Luma Mirabella Elleven Regency Wilshire Flower Street Lofts The Californian on Wilshire Evo The Churchill The Promenade The Crown Towers Biscuit Company Lofts The Diplomat Toy Factory ofts The Dorchester The Bartlett The Grand Toy Warehouse The Remington Tokyo Villa The Westford Douglas Building The Wilshire Teramachi Building The Wilshire Marquis Little Tokyo Lofts The Wilshire Regent Santee Village - The Cornell Wilshire Holmby Santee Village - The Eckhardt Wilshire Manning Santee Village - The Santee Wilshire Selby The Rowan Wilshire Terrace Molino Street Lofts The Longford Barker Block The Wilshire House The Skyline The Park Wilshire Mura Library Court Marie Antoinette Market Lofts The Westholme Bunker Hill Lofts Chateau Colline Sky Lofts The Carlyle Residences Eastern Columbia Lofts Wilshire Westwood Terrace Promenade West Beverly Wilshire Concerto The Venezia

Standard Monthly Reports - Los Angeles - May 2013 n/a $/SF $375 $372 $323 $393 $380 Average Average 1/4/2013 3/1/2013 3/5/2013 11/7/2012 12/7/2012 3/27/2013 3/14/2013 3/13/2013 10/5/2012 1/10/2013 1/31/2013 1/31/2013 2/21/2013 2/21/2013 3/28/2013 3/29/2013 1/23/2013 3/29/2013 3/22/2013 3/22/2013 1/25/2013 1/24/2013 12/17/2012 10/17/2012 10/11/2012 11/21/2012 11/21/2012 12/14/2012 12/13/2012 10/12/2012 10/31/2012 12/28/2012 10/25/2012 Closing Date n/a Price Range $140,000 - $985,000 $140,000 $160,000 - $603,884 $160,000 $440,000 - $650,000 $140,000 - $1,350,000 - $140,000 $248,400 $1,350,000 - $/SF $341 $195 $379 $379 $357 $507 $447 $377 $447 $281 $281 $397 $481 $452 $505 $520 $445 $459 $256 $432 $345 $450 $424 $404 $340 $438 $339 $289 $339 $395 $469 $369 $468 n/a Average Average $337,303 $436,422 $402,358 $536,667 $528,689 Closing Price $715,000 $457,000 $214,000 $376,100 $572,500 $375,000 $730,000 $450,000 $442,500 $425,000 $550,000 $250,000 $225,500 $592,000 $426,500 $425,000 $455,000 $445,000 $405,000 $839,000 $339,000 $300,000 $385,000 $600,000 $800,000 $603,884 $288,400 $490,000 $399,000 $390,000 $390,000 $380,000 $466,500 Closing Price n/a (October 2012 - March 2013) March - 2012 (October 481 - 2,310 481 481 - 2,250 481 880 - 2,850 481 - 2,850 1,213 - 1,710 1,213 120 74 0 Size Range (SF)Size Range 762 481 481 950 950 950 849 580 980 890 1,172 1,170 1,770 1,770 1,010 2,071 1,120 1,120 1,070 1,130 1,130 1,100 1,370 1,847 1,234 2,850 1,260 1,663 1,330 1,480 1,360 Size (SF) n/a 0/1 1/1 0/1 0/1 0/2 0/2 0/2 0/1 0/1 0/1 0/1 1/1 1/1 2/2 2/2 1/1 0/1 1/1 0/1 1/1 1/1 2/2 1/1 1/1 0/1 1/1 1/1 1/1 2/2 1/2 2/2 2/2 (SF) Type 1,441 1,164 1,024 1,044 1,392 2/2.5 Average Size Average 2E 4H 2 11 518 712 912 310 125 127 137 207 Unit 421 807 503 429 324 254 252 506 902 605 302 602 240 246 606 1101 11 0 2 PHB 1805 1409 2504 3005 3 0 53 29 68 153 # of Sales Eastern Columbia Lofts Eastern Columbia Lofts Eastern Columbia Lofts Eastern Columbia Lofts Eastern Columbia Lofts Eastern Columbia Lofts Eastern Columbia Lofts Douglas Building Eastern Columbia Lofts Eastern Columbia Lofts Eastern Columbia Lofts Eastern Columbia Lofts Bunker Hill Tower Bunker Hill Tower Bunker Hill Tower Bunker Hill Tower Douglas Building Douglas Building Barker Block Barker Block Biscuit Company Lofts Bunker Hill Tower Bunker Hill Tower Barker Block Barker Block Barker Block Barker Block Barker Block Development Barker Block Barker Block Barker Block Barker Block Barker Block Three (or more) Bedroom Three Other (Unknown) All Types Closing Details Angeles Downtown Los - Unit Type Bedroom One Studio / Jr. One Bedroom Bedroom Two Resale Summary - Downtown Los Angeles Angeles Los Downtown - Summary Resale Standard Monthly Reports - Los Angeles - May 2013 Standard Monthly Reports - Los RESALES 2/8/2013 3/8/2013 11/8/2012 11/3/2012 2/11/2013 12/6/2012 12/5/2012 3/27/2013 12/5/2012 2/14/2013 2/14/2013 1/16/2013 3/15/2013 1/13/2013 2/13/2013 2/19/2013 10/2/2012 10/3/2012 10/3/2012 10/1/2012 8/22/2012 1/24/2013 3/29/2013 3/29/2013 3/29/2013 2/28/2013 2/28/2013 2/28/2013 3/25/2013 3/25/2013 11/27/2012 12/11/2012 11/14/2012 10/11/2012 12/12/2012 11/28/2012 12/18/2012 12/13/2012 12/31/2012 10/10/2012 12/28/2012 12/29/2012 Closing Date $417 $419 $317 $317 $/SF $219 $471 $571 $168 $475 $376 $247 $507 $426 $292 $353 $356 $200 $520 $350 $424 $582 $455 $459 $404 $362 $286 $384 $302 $280 $463 $236 $568 $548 $393 $365 $662 $492 $409 $486 $490 $468 $666 $516,500 $767,500 $477,000 $347,000 $170,000 $487,000 $487,000 $315,000 $218,500 $619,000 $479,000 $779,000 $195,000 $160,000 $475,000 $475,500 $475,000 $275,000 $452,000 $323,000 $420,000 $442,000 $500,000 $420,500 $285,000 $225,000 $585,000 $558,000 $585,000 $420,000 $650,000 $985,000 $400,000 $405,000 $400,000 $984,000 $530,000 $384,900 $480,000 $689,000 $1,350,000 $1,098,000 Closing Price (continued) 710 910 720 790 730 730 950 800 840 960 680 680 960 2,110 1200 1,170 1,700 2,310 1,120 1,150 2,070 1,070 1,070 1,160 1,160 1,673 1,670 1,180 1,100 1,427 2,320 1,648 1,440 1,260 1,300 2,030 1,030 1,400 1,040 1,090 1,090 1,390 Size (SF) 0/1 0/1 0/1 1/1 1/1 1/2 1/2 0/1 2/2 2/2 2/2 1/1 0/1 1/1 0/1 1/1 2/2 1/1 0/1 2/3 1/2 1/2 1/1 2/2 1/1 1/2 2/2 2/2 2/2 1/2 1/1 2/3 1/2 2/2 1/1 1/1 2/2 1/1 1/1 1/1 1/1 1/1 Type 112 6 11 416 415 415 418 418 717 715 410 312 818 213 127 610 103 103 901 207 507 Unit 421 407 607 532 504 439 604 605 402 806 408 309 908 16 11 1510 11 0 4 1212 1210 1007 A109 A207 A409 Little Tokyo Lofts Little Tokyo Luma Luma Market Lofts Market Lofts Library Court Library Court Lofts Little Tokyo Lofts Little Tokyo Lofts Little Tokyo Lofts Little Tokyo Higgins Building Higgins Building Higgins Building Higgins Building Library Court Flower Street Lofts Flower Street Lofts Flower Street Lofts Grand Lofts Grand Lofts Grand Lofts Evo Evo Evo Flower Street Lofts Flower Street Lofts Evo Evo Evo Evo Evo Elleven Elleven Elleven Elleven Evo Evo Development El Dorado Lofts Elleven Elleven Elleven Closing DetailsClosing Angeles Los - Downtown Standard Monthly Reports - Los Angeles - May 2013 Standard Monthly Reports - Los RESALES 2/4/2013 3/4/2013 1/4/2013 1/4/2013 1/2/2013 1/8/2013 11/7/2012 12/7/2012 11/9/2012 11/5/2012 2/11/2013 1/11/2013 12/6/2012 12/6/2012 12/3/2012 12/3/2012 12/6/2012 3/12/2013 2/15/2013 3/18/2013 10/3/2012 2/28/2013 1/22/2013 3/26/2013 2/28/2013 2/25/2013 2/20/2013 12/11/2012 11/16/2012 11/15/2012 11/19/2012 11/21/2012 12/12/2012 12/14/2012 11/28/2012 11/28/2012 11/28/2012 11/30/2012 12/10/2012 10/16/2012 10/19/2012 12/20/2012 12/28/2012 12/24/2012 10/24/2012 Closing Date $ 511 $/SF $318 $213 $219 $341 $272 $431 $401 $287 $421 $407 $356 $293 $329 $442 $253 $294 $350 $423 $453 $283 $429 $262 $325 $429 $423 $209 $336 $363 $286 $405 $286 $463 $400 $439 $340 $400 $304 $383 $389 $496 $380 $466 $468 $406 $510,000 $510,000 $215,000 $351,000 $470,000 $470,000 $185,000 $475,000 $381,000 $350,000 $295,000 $534,500 $534,500 $525,000 $523,000 $335,000 $450,000 $625,000 $220,000 $322,500 $235,000 $295,000 $550,000 $520,000 $532,000 $525,000 $440,000 $300,000 $290,000 $280,000 $300,000 $286,527 $365,000 $340,000 $560,000 $590,000 $449,000 $405,000 $280,000 $402,000 $248,400 $390,000 $380,000 $380,000 $368,000 Closing Price (continued) 519 870 735 735 735 780 750 754 529 820 629 882 980 880 660 690 1,710 1,213 1,210 1,210 1,186 1,190 1,042 1,050 1,323 1,327 1,327 1,327 1,042 1,020 2,250 1,635 1,050 1,430 1,240 1,290 1,290 1,260 1,030 1,400 2,580 1,240 1,240 1,380 1,490 Size (SF) 0/1 1/1 1/1 0/1 2/2 2/2 2/2 3/2 0/1 1/1 1/1 2/2 2/2 2/2 2/2 2/2 2/2 2/2 2/2 1/1 1/1 1/1 3/3 2/2 1/1 1/1 2/2 2/2 2/2 1/1 2/2 2/2 1/1 2/2 0/2 1/1 0/1 1/1 0/2 1/1 2/1 1/1 1/1 2/2 Type 2/1.5 511 112 514 6 11 416 410 410 314 313 216 101 616 618 107 125 479 104 705 431 Unit 307 334 244 229 423 522 526 224 504 237 632 204 202 339 436 268 403 304 508 448 208 305 240 309 306 11 0 5 Savoy Savoy Savoy Savoy Savoy Savoy Savoy Savoy Rowan Lofts Eckhardt - The Santee Village Cornell - The Santee Village Cornell - The Santee Village Savoy Savoy Promenade West Promenade West Promenade West Promenade Rowan Lofts Rowan Lofts Mura Mura Mura Mura Mura West Promenade Mura Mura Mura Mura Mura Molino Street Lofts Molino Street Lofts Mura Mura Mura Market Lofts Market Lofts Molino Street Lofts Molino Street Lofts Molino Street Lofts Molino Street Lofts Development Market Lofts Market Lofts Market Lofts Market Lofts Closing DetailsClosing Angeles Los - Downtown Standard Monthly Reports - Los Angeles - May 2013 Standard Monthly Reports - Los RESALES 2/4/2013 1/2/2013 2/5/2013 12/7/2012 12/5/2012 3/12/2013 2/15/2013 2/13/2013 10/5/2012 10/1/2012 2/28/2013 1/29/2013 3/29/2013 3/29/2013 3/29/2013 12/17/2012 11/27/2012 11/14/2012 11/16/2012 10/17/2012 10/11/2012 11/20/2012 11/25/2012 10/18/2012 12/21/2012 12/21/2012 10/10/2012 12/24/2012 12/26/2012 12/24/2012 10/23/2012 Closing Date n/a $ 511 $174 $/SF $314 $441 $477 $371 $189 $376 $276 $278 $373 $261 $461 $361 $292 $254 $258 $382 $365 $260 $384 $402 $230 $209 $464 $440 $368 $389 $369 $360 $512,000 $415,000 $345000 $318,000 $537,000 $142,500 $570,000 $140,000 $185,300 $331,500 $301,200 $232,500 $220,000 $435,000 $555,000 $350,000 $205,000 $445,000 $650,000 $450,000 $350,000 $250,000 $260,000 $290,000 $439,000 $400,000 $230,000 $630,000 $695,000 $349,000 $490,000 Closing Price (continued) 9 11 n/a 970 970 670 670 700 782 760 820 890 890 996 890 890 980 690 1844 1,778 1,193 1,193 1,475 1,186 1,200 1,320 1,220 1,220 1,598 1,464 1,400 1,360 Size (SF) 2/2 1/1 0/1 2/1 2/1 1/1 1/1 1/1 2/2 2/2 1/1 2/2 2/2 1/1 1/1 0/1 1/1 1/1 2/2 1/1 1/1 1/1 1/1 1/1 1/2 3/2 2/2 2/2 2/2 2/2 2/2 Type 6 3 11 2 11 518 414 412 416 216 120 478 702 705 Unit 621 524 823 432 603 805 506 304 209 1112 1712 1012 1301 1304 1902 1306 1908 1006 2202 Toy Factory Lofts Factory Toy Lofts Factory Toy Lofts Factory Toy Lofts Factory Toy Warehouse Toy The Bartlett The Bartlett The Skyline The Skyline The Lofts Factory Toy Lofts Factory Toy Teramachi Homes Teramachi Homes Teramachi Building Textile Building Textile Building Textile Sky Lofts Sky Lofts Sky Lofts Sky Lofts Homes Termachi SB Grand SB Grand SB Grand Sky Lofts Sky Lofts Sky Lofts Development Savoy Savoy SB Grand SB Grand Closing DetailsClosing Angeles Los - Downtown Standard Monthly Reports - Los Angeles - May 2013 Standard Monthly Reports - Los RESALES n/a n/a $417 $/SF $723 $538 $489 Average Average 2/5/2013 2/1/2013 3/6/2013 2/5/2013 11/9/2012 11/9/2012 1/11/2013 12/5/2012 2/27/2013 3/12/2013 3/14/2013 1/18/2013 10/5/2012 3/21/2013 3/21/2013 1/25/2013 2/28/2013 12/11/2012 11/14/2012 11/14/2012 11/14/2012 10/17/2012 10/11/2012 12/13/2012 12/13/2012 12/19/2012 12/10/2012 10/10/2012 12/28/2012 12/20/2012 12/28/2012 10/24/2012 Closing Date n/a n/a Price Range $321,026 - $700,000 $321,026 $301,000 - $2,375,000 $301,000 $350,000 - $6,550,000 $301,000 - $6,550,000 $ 512 $ 6 11 $/SF $747 $316 $371 $379 $372 $379 $702 $901 $287 $287 $457 $730 $487 $452 $544 $329 $622 $450 $605 $682 $362 $400 $363 $346 $240 $206 $369 $366 $388 $1,238 n/a n/a Average Average $955,513 $438,184 $2,001,250 $1,034,959 Closing Price $518,000 $519,000 $419,026 $718,000 $574,400 $745,000 $770,000 $301,000 $780,000 $765,088 $655,000 $500,000 $594,000 $355,000 $505,000 $645,000 $350,000 $524,800 $440,000 $390,000 $1,740,000 $1,755,000 $2,100,000 $2,375,000 $1,000,000 $1,550,000 $1,850,000 $6,550,000 $1,920,000 $1,400,000 $1,800,000 $1,249,999 Closing Price n/a n/a 600 - 2,141 600 - 5,290 1,212 - 2,867 1,212 1,459 - 5,290 Size Range (SF)Size Range 2,018 1,773 2,776 2,315 1,319 2,213 2,810 3,143 2,798 1,550 1,459 2,850 1,435 1,435 1,356 2,635 2,635 1,459 1,459 2,640 1,882 1,530 1,805 1,403 2,008 2,403 5,290 1,863 1,080 1,099 1,099 1,686 Size (SF) n/a n/a 2/4 2/3 2/3 2/3 2/2 2/3 2/2 1/1 2/2 1/2 2/2 1/2 3/3 2/2 2/3 2/3 3/3 2/3 2/3 2/3 2/2 2/2 2/3 2/3 (SF) (October 2012 - March 2013) March - 2012 (October Type 2,768 1,924 1,052 1,954 3/4.5 2/2.5 2/2.5 2/3.5 2/2.5 3/3.5 2/2.5 2/2.5 Average Size Average 8E 2C 5H 5H 701 794 702 702 401 401 301 Unit 206 508 604 304 605 604 403 402 10H PH4 1501 1501 1801 1801 1901 1901 1502 120 6 120 8 2106 2205 0 0 11 10 60 39 # of Sales The Westford The The Remington The Remington The Remington The Westford The Westford The The Dorchester The Wilshire Park The Wilshire Park The Wilshire Park The Remington The The Churchill The Crown Towers The Crown Towers The Crown Towers The Crown Towers The Dorchester The The Californian The Churchill The Churchill The Churchill The Churchill The Marie Antoinette Marie Antoinette Marie Antoinette Mirabella Californian The Development Wilshire 10560 Wilshire 10560 Wilshire 10560 Blair House La Tour Closing Details Golden Mile - Unit Type Bedroom One Studio / Jr. One Bedroom Resale Summary - Golden Mile Golden - Summary Resale Three (or more) Bedroom Three Other (Unknown) Two Bedroom Two All Types Standard Monthly Reports - Los Angeles - May 2013 Standard Monthly Reports - Los RESALES 3/1/2013 3/1/2013 12/7/2012 11/8/2012 11/8/2012 11/9/2012 11/6/2012 11/1/2012 1/11/2013 12/5/2012 2/14/2013 2/15/2013 10/9/2012 1/31/2013 3/25/2013 2/22/2013 1/28/2013 3/29/2013 3/29/2013 2/22/2013 11/16/2012 12/27/2012 11/28/2012 12/19/2012 12/31/2012 12/24/2012 12/26/2012 10/28/2012 Closing Date $ 516 $416 $/SF $379 $687 $497 $381 $381 $356 $456 $423 $327 $262 $333 $828 $635 $625 $450 $527 $967 $280 $483 $209 $482 $296 $368 $406 $406 $1,094 $519,500 $822,700 $470,000 $700,000 $375,000 $321,026 $850,000 $355,000 $955,000 $500,000 $955,000 $625,000 $520,000 $400,000 $483,000 $440,000 $530,000 $400,000 $465,000 $330,000 $680,000 $2,735,000 $2,575,000 $1,550,000 $1,385,000 $1,900,000 $2,830,000 $1,060,000 Closing Price 873 853 600 883 684 888 3 , 111 2,141 1,312 1,212 2,767 1,759 2,160 1,321 2,481 1,322 2,259 1,843 3,455 2,928 2,500 2,867 1,367 1,430 1,862 2,440 1,400 2,608 Size (SF) 2/4 3/4 1/2 1/1 1/2 1/2 1/1 1/1 2/2 2/3 2/3 2/3 3/3 2/2 3/3 2/2 2/2 2/3 Type 1/1.5 3/3.5 2/2.5 2/2.5 2/2.5 2/2.5 3/2.5 3/3.5 2/2.5 1/2.5 (continued) 9D 4H 912 614 701 107 501 11 H 703 601 301 Unit 19B 405 802 304 506 9NE 1201 1201 1601 170 6 1901 1204 1602 2109 1008 16SW 12FSP Wilshire Terrace Wilshire Terrace Wilshire Wilshire Manning Wilshire Manning Wilshire Manning Wilshire Selby Wilshire Terrace Wilshire Terrace Wilshire The Wilshire Regent Wilshire The Regent Wilshire The Thayer Wilshire The Holmby Wilshire Holmby Wilshire The Wilshire Marquis Wilshire The Regent Wilshire The Regent Wilshire The Regent Wilshire The Regent Wilshire The The Westholme The Wilshire The Wilshire The House Wilshire The House Wilshire The House Wilshire The Development Westholme The Westholme The Westholme The Westholme The Closing DetailsClosing Mile - Golden Standard Monthly Reports - Los Angeles - May 2013 Standard Monthly Reports - Los RESALES Los Angeles Pipeline Currently Selling Under Construction Future Approved Under Review

Standard Monthly Reports - Los Angeles - May 2013 78 82 33 26 24 92 25 68 419 210 371 146 271 247 535 526 283 482 280 280 290 438 Total Total 4,169 3,941 Units Total Total 4 / 80 24 / 40 21 / 186 21 62 / 143 60224 / Available/ 354 / 1,244 Market Rate 7 not closed* / 311 7 not closed* / 58 not closed* / 78 34 not closed* / 35 Total Market Rate Market Total 84 not closed* / 147 Type Rental Rental Rental Rental Rental Rental Rental Rental Rental Rental Rental Rental Rental Rental Rental Product Condominiums Condominiums Condominiums Condominiums Condominiums Lofts Type Product Condominiums Condominiums Condominiums Condominiums Condominiums Condominiums Condominiums TBD TBD TBD 2014 2014 2013 2015+ 2013+ 2013+ 2013+ Lofts; Townhomes Lofts; Q3 2014 Q4 2014 Q4 2014 Q3 2014 Q3 2014 Q3 2014 Q1 2014 Q1 2013 Q4 2013 Dec 2014 Commence Marketing to Grant Total Units Under Construction: Grant Total Total Rental Units Under Construction: Total Market Date on Hollywood Hollywood Downtown Downtown Downtown Downtown Downtown Downtown Downtown Downtown Downtown Downtown Downtown Downtown July 2007 July 2007 May 2007 Submarket March 2008March January 2007 October 2007 West LA Luxury West LA Luxury West September 2011 November 2008 December 2006 Total Market Rate Condominiums, Lofts & Townhomes: & Rate Condominiums, Lofts Market Total Koreatown/Wilshire Center Koreatown/Wilshire Center Koreatown/Wilshire Center Koreatown/Wilshire West Hollywood/Hollywood West Total Condominium/Loft/Townhome Units Under Construction (On Hold): Condominium/Loft/Townhome Total Total Condominium/Loft/Townhome Units Under Construction (including TBD): Condominium/Loft/Townhome Total Hollywood Hollywood Downtown Downtown Downtown Submarket West LA Luxury West LA Luxury West LA Luxury West Koreatown/Wilshire Center Koreatown/Wilshire Companies Onni Group NBGI Homes NBGI Homes Wood Partners Wood BRE Properties Linear City, LLC Linear City, Holland Partners Jade Enterprises Equity Residential California Landmark Kelton Ventures, LLC Ventures, Kelton Developer/Owner Clarett Hollywood, LLC American Communities G.H. Palmer Associates G.H. Palmer The Related Companies The AvalonBay Communities AvalonBay The McGregor Company The CItyView; The KOR Group The CItyView; Monarch Investment Funds Monarch Cypress Equity Investments; FiField Elad ST Residential ST The SouthThe Group AEG; Ritz Carlton PEI III Asset Pool SECK Group, LLC Emaar LA Properties Developer/Owner HEI Hotels & Resorts The Related Companies The Monarch West Hollywood - Fountain & La Brea, Santa Hollywood - Fountain West Monarch Monica & La Brea (2 sites) Blvd6200 - Phase I - Hollywood Boulevard, between Argyle & Gower - NEC & Barrington & Wilshire of Barrington Avenue Boulevard Wilshire (On Hold) Avenue Kelton 1401 Da Vinci - 909 West Temple - 909Da Vinci West - 888 Street Olive Onni Tower Boulevard (On Hold) Olympic - 3429 W. Olympic Palace S. Ogden Drive (On Hold) - 739 Ogden Palace & La Brea) (Wilshire Boulevard 5200 Wilshire Gordon Apartments The Street N. Broadway Jia (previously Chinatown Gateway) - 617 (previously Matsu) - 236 Angeles Street Ava S. Los 8th & Hope (previously iHope) - 805 S. Hope Street One Santa Fe - Pico & Flower Onyx East & West Barker Block Phase II - 531 Molino Street Phase IIBarker Block - 531 Sunset Boulevard 1111 Boulevard Wilshire 1111 S. S. Figueroa & 1355 Building 1 & 2 - 1340 Avant, Flower Streets & 1st Phase I - Grand Avenue Project Grand Avenue Currently Under Construction Developments Currently Development The Hollywood The W Hollywood The Solair Beverly West Century The Carlyle Residences The Development 655 Hope Evo Ritz-CarltonThe at L.A. LIVE Residences Currently Selling Developments Selling Currently Standard Monthly Reports - Los Angeles - May 2013 Standard Monthly Reports - Los * Exact number of units in contract and/or available is not available. * Exact number of units LOS ANGELES PIPELINEe 75 54 53 42 95 63 55 64 170 176 177 175 318 159 472 182 194 190 100 732 700 378 507 281 262 353 252 250 200 204 302 836 240 300 464 306 Total Total 4,195 3,952 1,234 9,381 Units Type Rental Rental Rental Rental Rental Rental Rental Rental Rental Rental Rental Rental Rental Product Product (Loft-style) Condominium Condominiums Condominiums Condominiums Condominiums Condominiums Condominiums Condominiums Condominiums Condominiums Condominiums Condominiums Condominiums Condominiums Condominiums Condominiums Condominiums Condominiums Condominiums Condominiums Condominiums Condominiums Condominiums TBD TBD TBD TBD Grand Total Units Approved: Grand Total 2016 2015 Total Rental Units Approved: Total 2012+ 2014+ 2014+ 2014+ 2014+ 2014+ 2016+ 2015+ 2015+ 2015+ 2015+ 2013+ 2013+ 2013+ 2013+ 2013+ 2013+ 2013+ 2013+ 2013+ 2013+ 2013+ 2013+ 2013+ 2013+ 2013+ 2013+ 2013+ 2013+ 2013+ Commence Marketing to Marketing Hollywood Hollywood Hollywood Hollywood Hollywood Hollywood Hollywood Hollywood Hollywood Hollywood Hollywood Hollywood Downtown Downtown Downtown Downtown Downtown Downtown Downtown Downtown Downtown Downtown Downtown Downtown Downtown Downtown Submarket West LA Luxury West LA Luxury West LA Luxury West LA Luxury West LA Luxury West LA Luxury West LA Luxury West Koreatown/Wilshire Center Koreatown/Wilshire Center Koreatown/Wilshire Center Koreatown/Wilshire Total Condominium/Loft/Townhome Units Approved (including TBD): Units Approved Condominium/Loft/Townhome Total Total Condominium/Loft/Townhome Units Approved (including TBD) Units Approved On Hold: Condominium/Loft/Townhome Total CIM Group Sares-Regis Don Hankey UDR; MetLife iStar Financial Amacon Group Carmel Partners Crescent Heights DS Ventures, LLC DS Ventures, Sixty Two 30, LLC Sixty Two Kawada Company Kawada Astani Enterprises Hanover Company TBD - Site for sale LA Metropolis, LLC Alliance Residential Developer/Owner WEHO LLC Partners, Westfield Corporation Westfield Camden Development Clarett Hollywood, LLC J.H. Snyder Companies Genton Property Group Genton Property GTO Development, LLC GTO Symphony Development Legendary Development Legendary Next Century Associates Next Venice Development Group Development Venice T.A. Patty Development, Inc. Development, Patty T.A. Cypress Equity Investments Apollo Real Estate Advisors Bridge Realty Advisors, LLC Bridge Realty Advisors, David Seewack; Scott Spiwack David Seewack; New Pacific Realty Corporation New Pacific Joint Treasure International Ltd. Joint Treasure Korean Air; Thomas Properties Group Properties Air; Thomas Korean Associated Estates Realty Corporation Century Plaza Hotel Redevelopment - 10250 Santa Monica Century Plaza Hotel Redevelopment - 10250 Boulevard 9900 Boulevard (On Hold) Wilshire The Vermont - 3150 Wilshire Boulevard Wilshire - 3150 Vermont The Drive near Burton - Wetherly Seasons Residences Four Boulevard Wilshire 10777 Santa Monica Boulevard 10000 Boulevard 9200 Wilshire Boulevard 10250 Santa Monica New Century Plan - Westfield 1540 Vine Street Vine 1540 Hollywood Gower - SWC corner of Hollywood & Gower Blvd6200 - Phase II - Hollywood Boulevard bet. Argyle & Gower Boulevard Wilshire 3670 Boulevard - 5500 Wilshire Tower Desmond’s Yucca Street Condos - 6230 Yucca Street Street Condos - 6230 Yucca Yucca Sunset Millennium - Sunset & La Cienega Boulevard Sunset Boulevard Columbia Square - 6121 Sunset & Gordon - 5925 Sunset Boulevard Hollywood Boulevard Hollywood Regency - 7926-7940 & La Brea (KCOP Lot) La Brea Gateway - Willoughby Boulevard Hollywood Broadstone Hollywood - 7060 2nd & San Pedro Streets 2nd & San Pedro Olympic & Hill 950 E. 3rd Street Avenue S. Grand Angelena at 8th & Grand - 718 Santa Monica Boulevard - 9001 Mixed-Use Project Palms The Cahuenga Boulevard 2775 Zen - 250 S. Hill Street N. Main Street - 1101 Chinatown Lofts 5th Street (On Hold) Fifth - S. Olive & W. Park Street Francisco Metropolis - 831-899 Grand Redevelopment - NWC of 7th & Figueroa Wilshire S. Figueroa Building 3 - 1500 Avant, Development N. Broadway BC- 711 Lofts Plaza Street S. Hope 1133 AMP Avenue - 695 Lofts S. Santa Fe S. Hope Street (On Hold) - 1028 LA Lofts Future Approved Developments Approved Future Standard Monthly Reports - Los Angeles - May 2013 Standard Monthly Reports - Los LOS ANGELES PIPELINE 24 32 34 56 59 66 30 66 98 40 2 51 374 126 120 150 195 105 700 257 587 202 320 200 320 850 356 294 248 240 402 300 300 400 208 300 280 492 606 TBD TBD Proposed Total Units Total TBD TBD Type Rental Rental Rental Rental Rental Rental Rental Rental Rental Rental Rental Product Product Condo/Rental Condominiums Condominiums Condominiums Condominiums Condominiums Condominiums Condominiums Condominiums Condominiums Condominiums Condominiums Condominiums Condominiums Condominiums Condominiums Condominiums Condominiums Condominiums Condominiums Condominiums Condominiums Condominiums Condominiums Condominiums Condominiums Live/Work Lofts Live/Work Hollywood Hollywood Hollywood Hollywood Hollywood Downtown Downtown Downtown Downtown Downtown Downtown Downtown Downtown Downtown Downtown Downtown Downtown Downtown Downtown Downtown Downtown Downtown Downtown Downtown Downtown Downtown Downtown Downtown Downtown Downtown Downtown Submarket West LA Luxury West West LA Luxury West LA Luxury West LA Luxury West LA Luxury West LA Luxury West LA Luxury West West Hollywood West Koreatown/Wilshire Center Koreatown/Wilshire TBD TBD TBD Barry Shy CIM Group CIM Group Companies Charlie Woo Estate Group Kim Benjamin Moinian Group Moinian Group Shahab Ghods Pacifica Equities Pacifica Meruelo Maddux Holland Partners Capital Foresight Merco Group, LLC Casden Properties Hearst Corporation Spring Street Plaza Maxxam Enterprises Abode Communities Developer/Owner Mission RFT SR, LLC Champion Real Estate Champion Real Estate Saeed Farkhondehpour 1650 Lincoln MLS, LLC Lincoln MLS, 1650 Maxser & Company, Ltd Maxser & Company, Larry & Ralph Cimmarusti Nikkei Center Partnrs, LLC Nikkei Center Partnrs, Meruelo Maddux Properties Meruelo Maddux Properties Golden Hills Properties, LLC Golden Hills Properties, R and R Real Properties, Inc. R and R Real Properties, 611 W. Sixth Residential, LLC W. 611 Bond Chinatown Ventures, LLC Bond Chinatown Ventures, Hankey Investment Company, LP Hankey Investment Company, Ocean Avenue, LLC, MDS Capital LLC, Ocean Avenue, Cypress Equity Investments; FiField Argent Ventures; Millennium Partners Argent Ventures; Central City Development Group; Amidi Real 710-718 Wilshire Boulevard, 1213-1233 7th Street Boulevard, 1213-1233 Wilshire 710-718 Santa Monica Boulevard 1802 Lincoln Boulevard 1650 2nd Street 1318-1324 Selma Community Housing - 1603 Cherokee Selma Community Housing - 1603 & Hobart Wilshire Boulevard Wilshire Ocean, 101 1133 Boulevard 2300-2320 Wilshire Street (On Hold) 11th 1639 1027 Wilshire Boulevard Wilshire 1027 to Capitol Records Building Next Movietown Plaza Redevelopment 3406-6420 Franklin lot between Musso & Frank Champion Real Estate - Cherokee - Parking Champion Real Estate - Selma - NEC of Highland & Selma Fig & Flower Apartments (previously Libeskind Tower Site) Fig & Flower Apartments (previously Libeskind Tower Medallion - 4th & Main (Expansion) The Grand Avenue 1150 Nikkei Center - Mangrove Site, 1st & Alameda Bixel & 5th The Yards - Santa Fe Avenue (bet. 3rd & 4th) Avenue - Santa Fe Yards The Avenue Building - 233 S. Beaudry Exchange Pacific Blossom Plaza - 900 (On Hold) N. Broadway 808 S. Olive Street N. Spring Street Capitol Milling Building - 1231 Barry Shy Tower II - 602-625 S. Main Street (On Hold) Barry Shy Tower S. Hill Street I - 915 Ullman Tower S. Hill Street II - 817 Ullman Tower & 12th 11th LA Central - Figeuroa, Flower, - 350 S. Alameda Street Beacon Storage Former - 826-850 S. Hope Street Tower Park South Village, 611 Place - 611 W. 6th Street W. Place - 611 611 E. 4th Street - 234-300 Street; 119-135 S. Main Vibiana & Olympic Boulevard - N. Grand Avenue Tower Lucia S. Olive Street - 1101 Olive Street Lofts S. S. Main Street, 1111 S. Hill Street, 1201 Herald Examiner - 1108 Broadway Megatoys Residences - 905-919 E. 2nd Street E. 2nd - 905-919 Megatoys Residences Street S. Spring 751 Olympic & Grand 9th Street W. Building - 315 Mutual Washington Development Under Review Developments Developments Review Under Standard Monthly Reports - Los Angeles - May 2013 Standard Monthly Reports - Los LOS ANGELES PIPELINE 908 240 TBD 5,931 9,928 3,089 Proposed Total Units Total Type Product Product Condominiums Condominiums Grand Total Units Under Review: Grand Total Total RentalReview: Units Under Total Submarket West LA Luxury West LA Luxury West Total Condominium/Loft/Townhome Units Under Review (On Hold): Condominium/Loft/Townhome Total Total Condominium/Loft/Townhome Units Under Review (including TBD): Units Condominium/Loft/Townhome Total Hines 26th Street Developer/Owner Village Trailer Park, LLC Park, Trailer Village - continued Development Park) Trailer 2930 (Village Colorado Avenue Site) (Papermate 26th Street 1681 Under Review Developments Review Under Standard Monthly Reports - Los Angeles - May 2013 Standard Monthly Reports - Los LOS ANGELES PIPELINE The Mark Company (TMC) Disclaimer

1. Professional Opinion. With regard to the consulting services, reports, projections, and recommendations to be provided by TMC under the Agreement, whether delivered orally or in writing, the parties acknowledge that the matters on which TMC is consulted [e.g., assessing potential competition, market trends, demographic trends, financing availability, and the like] are not the subject of a predictive science, and are instead subject to unforeseen market variables and conditions. Client therefore understands and acknowledges that TMC’s projections and recommendations as contemplated by the agreement are solely the result of TMC’s considered opinion based on TMC’s assumptions and judgments predicated on past experience in light of the relevant data studied with respect to the market conditions and the proposed project. Consequently, Client specifically agrees (a) that TMC’s projections and recommendations constitute opinions only and do not constitute any representation or assurance of any future market conditions; (b) that any action taken by Client based on any such TMC projections or recommendations is made without any reliance thereon as a representation or assurance as to any future market conditions; and (c) that Client will not hold TMC liable or otherwise responsible for any losses occurring in the event that future market conditions deviate from TMC’s projections and/or recommendations.

2. Use of Product. All information, data, projections, and recommendations received by Client from TMC in connection with the Agreement, whether presented orally or in writing, shall be solely for use by Client, and is/are not to be used or relied upon by any third party[ies] without the prior written approval of TMC having been first had and obtained. TMC specifically disclaims any and all liability to any third party[ies] deriving from the use of, or reliance upon, any such material, and Client agrees to hold harmless, indemnify and defend TMC from any claims arising from any such use or reliance.