EXCLUSIVE OFFERING Fair Oaks MEMORANDUM Pasadena, California OPPORTUNITY OVERVIEW LAND ADVISORS 1 Fair Oaks PASADENA, CALIFORNIA 10 UNIT MIXED-USE INVESTMENT OPPORTUNITY

EXCLUSIVE OFFERING MEMORANDUM OFFERS DUE TUESDAY, AUGUST 14, 2018 Land Advisors is a nationwide team of respected, connected and talented land professionals that provide advisory and brokerage services to clients who need a rock-solid, data driven roadmap for acquiring, selling, financing or developing land and land- related assets.

RICHARD BYRD, TIM BARDEN, CHRIS GOMEZ-ORTIGOZA, SENIOR VICE PRESIDENT SENIOR VICE PRESIDENT VICE PRESIDENT 201 South , Suite 500 201 South Lake Avenue, Suite 500 201 South Lake Avenue, Suite 500 Pasadena, CA 91101 Pasadena, CA 91101 Pasadena, CA 91101 626 376 9840 x13 626 376 9840 x11 626 376 9840 x14 [email protected] [email protected] [email protected] CalDRE #01301749 CalDRE #01769199 CalDRE #01887029 Contents

01 OPPORTUNITY OVERVIEW 03 COUNTY OVERVIEW 05 Opportunity 21 Los Angeles County 06 Property Facts 04 CITY OVERVIEW 07 Regional & Local Maps 23 Pasadena 08 Vicinity Map 24 Live in Pasadena 09 Aerial with Site Plan 25 Work in Pasadena 10 Site Rendering 26 Play in Pasadena 12 Education 27 Metro Gold Line 02 MARKET ANALYSIS 05 OFFERING GUIDELINES 14 Competitive Market Area 28 Offering Guidelines 15 New Home Communities 29 Confidentiality & Disclaimer 16 Multifamily Communities 30 Brokerage Disclosure 20 Select Multifamily Comparables Opportunity

Land Advisors Organization is pleased to present Fair Oaks, a rare permit- ready, in-fill development property located within close proximity to Old Town Pasadena. The Property represents a unique opportunity to acquire a parcel entitled for multifamily units. While under construction, builder may choose to process a condominium map to enable condo sales. INVESTMENT HIGHLIGHTS

▲ Rare opportunity to acquire in Pasadena

▲ Quick access to Pasadena landmarks and Metro Gold Line stations

▲ Zoning allows for 40 D.U./AC or 14 units

▲ Strong traffic counts on Fair Oaks Avenue, with 2017 having an average traffic volume of just over 21,500 vehicles per day

▲ Both rental rates and housing prices in Pasadena are at all-time highs

▲ The entire region is severely under-supplied in housing

▲ Competitively priced at $1,595,000

OPPORTUNITY OVERVIEW LAND ADVISORS 5 Property Facts

LOCATION: 840 North Fair Oaks Avenue NET FLOOR AREA SCHEDULE

MUNICIPALITY: City of Pasadena, County of Los Angeles, California LOCATION TYPE BED AREA (SF) UNIT 150 OWNER OF RECORD: Balian Investments, LLC Doane House Commercial Office Space 218 UNIT 101 Doane House Flat 1 494 PROPERTY SIZE: 14,626 SF / 0.34 Acres UNIT 102 Doane House Flat 1 647 APN: 5725-001-007 UNIT 103 Pinney House Flat 2 1,372 UNIT 201 Pinney House Flat 2 643 ZONING DISTRICT: FGSP-C-3a UNIT 104 New Apartments Bed 3 1,319 MAXIMUM DENSITY: 40 D.U./AC or 14 units allowed; 9 residential and office units UNIT 105 New Apartments Bed 3 1,683 provided UNIT 106 New Apartments Bed 1 648 ENTITLEMENTS: The Property is entitled and has building permits ready to pull UNIT 107 New Apartments Bed 1 649 , UNIT 108 New Apartments Bed 3 1,293 SITE CONDITION: Doane House to be relocated onsite by Seller. Pinney House to be relocated from another property by the Seller. Buyer responsible for all site Total/Avg. 10 1.9 8,966 improvements

OPPORTUNITY OVERVIEW LAND ADVISORS 6 Regional & Local Maps

FAIR OAKS FAIR OAKS

OPPORTUNITY OVERVIEW LAND ADVISORS 7 Vicinity Map

METRO GOLD LINE STATIONS FAIR OAKS Allen Avenue Station 11 Lake Avenue Station Memorial Station Del Mar Station 1 Fillmore Station

CULTURAL HIGHLIGHTS ALLEN LAKE 1. Kidspace Children’s Museum 12 2. Tournament of Roses House 3. 5 4. Pacific Asia Museum 14 Playhouse 5. Pasadena Playhouse MEMORIAL PARK 44 16 6. & Gardens 3 Paseo Colorado District 5 Old Town / 10 MEDICAL INSTITUTIONS Pasadena Civic17 Center 7. Keck Medicine of USC 8. Huntington Memorial 15 9. Shriner’s Children Hospital 5 DEL MAR 13 2 10. Medical South Lake School Avenue District RECREATION / CIVIC 7 11. 8 12. Aquatics Center FILLMORE 13. South Arroyo Trail 14. Memorial Park 15. Central Park 6 16. 9 17. Pasadena Convention Center

OPPORTUNITY OVERVIEW LAND ADVISORS 8 Aerial with Site Plan

OPPORTUNITY OVERVIEW LAND ADVISORS 9 Site Rendering South Elevation

OPPORTUNITY OVERVIEW LAND ADVISORS 10 Site Rendering

OPPORTUNITY OVERVIEW LAND ADVISORS 11 Education – Public Schools Pasadena Unified School District serves the Property

DISTINGUISHED SCHOOLS Muir High Pasadena Unified School District serves the Pasadena, Altadena, and Sierra Madre as well as some unincorporated areas of Los Angeles County. The district serves over 17,000 students across 28 schools.

▲ Roosevelt Elementary School (Grades K-5) Washington Middle 315 North Pasadena Avenue, Pasadena, CA 91103 7/10* RANKING

▲ Washington Middle School (Grades 6-8) 1505 North Marengo Avenue, Pasadena, CA 91103 1/10* RANKING

▲ Muir High School (Grades 9-12) 1905 North Lincoln Avenue, Pasadena, CA 91001 1/10* RANKING

*The State Rank is determined by a school's API Score in comparison to all other schools in California. (1 is the worst, 10 is the best). An equal number of schools occupy each rank. This rank comes from the 2016 California Academic Performance Index (API) Base report. Roosevelt Elementary

OPPORTUNITYMARKET OVERVIEW ANALYSIS LAND ADVISORS 12 Education – Private Schools Niche’s 2018 Best Schools in Pasadena

With public schools ranked lower than expected, residents will have the option to send their children to private schools. According to Niche’s 2018 Best schools, the private schools listed below are some of the best in America:

▲ Polytechnic School (Grades K-12) 1030 E California Blvd, Pasadena, CA 91106 #16 Best Private School in America

▲ (Grades 4-12) 324 Madeline Dr, Pasadena, CA 91105 #27 Best Private School in America La Salle High School ▲ Mayfield Senior School (Grades 9-12) 500 Bellefontaine St, Pasadena, CA 91105 #213 Best Private School in America

▲ La Salle High School (Grades PK-12) The Waverly 3880 E Sierra Madre Blvd, Pasadena, CA 91107 School #660 Best Private School in America Mayfair ▲ The Waverly School (Grades PK-12) Senior School Polytechnic School 67 W Bellevue Dr, Pasadena, CA 91105 Westridge #904 Best Private School in America Middle

OPPORTUNITYMARKET OVERVIEW ANALYSIS LAND ADVISORS 13 Competitive Market Area Overview

Provided below are the current competitive, for-sale projects in Pasadena.

SALES INFORMATION PRODUCT & PRICING EST. MONTHLY COSTS OPENING TOTAL HOMES MONTHLY AVERAGE AVERAGE AVERAGE APPROX. TOTAL TAX RATE # COMMUNITY BUILDER PRODUCT TYPE DATE HOMES SOLD SALES RATE PRICE PRICE/SF SIZE (SF) HOA WITH ASSESS. 1 Chelsea Court – SOLD OUT 2017 Toledo Homes Condominium 2/2/16 28 28 1.2 $1,045,500 $799 1,427 $283 1.16% 2 Del Mar Gardens Toledo Homes Condominium 5/6/17 17 16 1.1 $818,429 $611 1,386 $333 1.16% 3 Terraces ETCO Homes Townhome 9/23/17 60 7 0.7 $2,788,192 $823 3,391 $800 1.19% 4 The Montana West Builders Condominium 6/1/2007 28 25 0.2 $2,698,679 $700 3,832 $2,340 N/A 5 Town & Country BDK Capital Condominium 12/1/17 18 10 1.6 $873,800 $612 1,431 $398 1.27% 6 Town & Country BDK Capital Townhome 8/16/17 42 28 2.9 $1,129,450 $616 1,840 $329 1.27% 7 Villas ETCO Homes Townhome 11/30/16 18 12 0.6 $2,337,022 $742 3,148 $679 1.25% TOTAL: 211 126 1.2 $1,670,153 $700 2,351 $737 1.22%

04

03 07 05 06 02 01

MARKET ANALYSIS LAND ADVISORS 14 New Home Communities

CHELSEA COURT TOWN & COUNTRY - TOWN & COUNTRY - DEL MAR GARDENS TERRACES THE MONTANA VILLAS SOLD OUT 12.2017 CONDOMINIUM TOWNHOME

BUILDER Toledo Homes Toledo Homes ETCO Homes West Builders BDK Capital BDK Capital ETCO Homes

SUBMARKET Pasadena Pasadena Pasadena Pasadena Pasadena Pasadena Pasadena

OPENING DATE 2/2/16 5/6/17 9/23/17 6/1/2007 12/1/17 8/16/17 11/30/16

TOTAL HOMES 28 17 60 28 18 42 18

TOTAL HOMES SOLD 28 16 7 25 10 28 12

TOTAL HOMES REMAINING 0 1 53 3 8 14 6

MONTHLY SALES RATE 1.2 1.1 0.7 0.2 1.6 2.9 0.6

AVERAGE PRICE $1,045,500 $818,429 $2,788,192 $2,698,679 $873,800 $1,129,450 $2,337,022

AVERAGE PRICE / SF $799 $611 $823 $700 $612 $616 $742

AVERAGE SF 1,427 1,386 3,391 3,832 1,431 1,840 3,148

HOMEOWNERS ASSOCIATION $283 $333 $800 $2,340 $398 $329 $679 TOTAL TAX RATE WITH ASSESSMENTS 1.16% 1.16% 1.19% N/A 1.27% 1.27% 1.25%

MARKET ANALYSIS LAND ADVISORS 15 Multifamily Communities Overview

Provided below are the current, competitive multi-family communities in Pasadena. PROPERTY SIZE ASKING RENT PER MONTH PER UNIT YEAR TOTAL AVG. UNIT # NAME ADDRESS OWNER BUILT UNITS SIZE (SF) STUDIO 1 BED 2 BED RENT/SF 1 Hudson West 678 E Walnut St Greystar Real Estate Partners 2017 82 831 $2,278 $2,871 $3,494 $3.55 2 The Palermo 22 W Green St Collection Apartments 2003 48 780 - $2,268 $2,917 $3.32 3 Avalon Pasadena 708-716 E Colorado Blvd AvalonBay Communities, Inc 2004 120 869 - $2,506 $3,363 $3.29 4 The Andalucia 686 E Union St Mack Urban 2016 118 887 $2,295 $2,527 $3,519 $3.21 5 Trio 44 N Madison Ave CFT Group 2004 304 1,013 $2,036 $2,378 $3,208 $2.60 6 Terraces Paseo Colorado 375 E Green St G.I.D. 2002 391 838 $2,030 $2,149 $2,685 $2.75 7 Eaves Old Town Pasadena 350 E Del Mar Blvd AvalonBay Communities, Inc 1973 96 692 $2,206 $2,220 $2,941 $3.33 8 Avila in Pasadena 75 W Walnut St Greystar Real Estate Partners 2018 221 695 $2,729 $3,023 $3,959 $4.20 9 City Place 801 E Walnut St The Sobrato Organization 2001 214 956 - $2,414 $3,034 $2.90 TOTAL/AVERAGE: 1,594 840 $2,262 2,484 $3,236 $3.24

08 09

04

03 07 05 06 02 01

MARKET ANALYSIS LAND ADVISORS 16 Multifamily Communities Class A market rate apartments within Pasadena

01 02 03

HUDSON WEST THE PALERMO AVALON PASADENA

Submarket Pasadena Submarket Pasadena Submarket Pasadena

Year Built 2017 Year Built 2003 Year Built 2004

Units 82 Units 48 Units 120

UNIT AVG. AVG. UNIT AVG. AVG. UNIT AVG. AVG. UNITS AVG. SF UNITS AVG. SF UNITS AVG. SF MIX RENT / UNIT RENT / SF MIX RENT / UNIT RENT / SF MIX RENT / UNIT RENT / SF

Studio 18 556 $2,278 $4.10 1 Bed 24 620 $2,268 $3.66 1 Bed 70 720 $2,506 $3.48

1 Bed 36 794 $2,871 $3.61 2 Bed 24 941 $2,917 $3.10 2 Bed 50 1,078 $3,363 $3.12

2 Bed 28 1,056 $3,494 $3.31 Total 48 780 $2,592 $3.32 Total 120 869 $2,863 $3.29

Total 82 831 $2,953 $3.55

MARKET ANALYSIS LAND ADVISORS 17 Multifamily Communities Class A market rate apartments within Pasadena

04 05 06

THE ANDALUCIA TRIO TERRACES PASEO COLORADO

Submarket Pasadena Submarket Pasadena Submarket Pasadena

Year Built 2016 Year Built 2004 Year Built 2002

Units 118 Units 304 Units 391

UNIT AVG. AVG. UNIT AVG. AVG. UNIT AVG. AVG. UNITS AVG. SF UNITS AVG. SF UNITS AVG. SF MIX RENT / UNIT RENT / SF MIX RENT / UNIT RENT / SF MIX RENT / UNIT RENT / SF

Studio 26 534 $2,295 $4.30 Studio 75 794 $2,036 $2.56 Studio 85 632 $2,030 $3.21

1 Bed 45 791 $2,527 $3.16 1 Bed 104 827 $2,378 $2.88 1 Bed 175 733 $2,149 $2.93

2 Bed 47 1,190 $3,519 $2.95 2 Bed 125 1,298 $3,208 $2.47 2 Bed 131 1,113 $2,685 $2.41

Total 118 887 $2,871 $3.21 Total 304 1,013 $2,635 $2.60 Total 391 838 $2,303 $2.75

MARKET ANALYSIS LAND ADVISORS 18 Multifamily Communities Class A market rate apartments within Pasadena

07 08 09

EAVES OLD TOWN PASADENA AVILA IN PASADENA CITY PLACE

Submarket Pasadena Submarket Pasadena Submarket Pasadena

Year Built 1973 Year Built 2018 Year Built 2001

Units 96 Units 221 Units 214

UNIT AVG. AVG. UNIT AVG. AVG. UNIT AVG. AVG. UNITS AVG. SF UNITS AVG. SF UNITS AVG. SF MIX RENT / UNIT RENT / SF MIX RENT / UNIT RENT / SF MIX RENT / UNIT RENT / SF

Studio 30 590 $2,206 $3.74 Studio 105 600 $2,729 $4.54 1 Bed 108 791 $2,414 $3.05

1 Bed 54 680 $2,220 $3.26 1 Bed 108 750 $3,023 $4.03 2 Bed 86 1,085 $3,034 $2.80

2 Bed 12 1,000 $2,941 $2.94 2 Bed 8 1,191 $3,959 $3.32 3 Bed 20 1,291 $3,475 $2.69

Total 96 692 $2,305 $3.33 Total 221 695 $2,917 $4.20 Total 214 956 $2,762 $2.89

MARKET ANALYSIS LAND ADVISORS 19 Select Multifamily Comparables Overview

The chart below shows the top three of each bedroom type for multi-family units comparable to Fair Oaks in Pasadena.

ASKING RENT PER MONTH PER UNIT # NAME ADDRESS PRODUCT TYPE 1 BED 2 BED 3 BED 1 Pasadena Gateway Villas 290 N Hudson Ave Apartment $3,029 - - 2 Acappella Pasadena Apartments 145 Chestnut St Apartment $2,519 - - 3 The Villas Rentals 231-239 E Villa St Apartment $1,895 - - 4 Pasadena Gateway Villas 290 N Hudson Ave Apartment - $3,875 - 5 N/A 931 E Walnut St Unit 317 Condominium - $3,200 - 6 N/A 504 N Orange Grove Blvd Townhome - $2,995 - 7 Pasadena Gateway Villas 290 N Hudson Ave Apartment - - $4,131 8 N/A 281 Mar Vista Ave Townhome - - $3,750 9 N/A 1309 Marengo Ave Unit 3 Apartment - - $3,195 TOTAL/AVERAGE: $2,481 $3,357 $3,692

09

03

06 02 01, 04, 07 05 08

MARKET ANALYSIS LAND ADVISORS 20 Los Angeles County

COUNTY OVERVIEW

With over 10 million residents, Los Angeles County is the most populous county in California and the United States. Economic growth within Los Angeles County is largely due to the entertainment industry (all 6 major film studios are within the county – Paramount Pictures, 21st Century Fox, Sony, Warner Bros., Universal Pictures, and Walt Disney Studios), international trade ports of Los Angeles and Long Beach, music recording and production, aerospace, law, and medicine. Residents of Los Angeles County have access to various forms of entertainment, shopping, dinning, housing, beaches, mountains, and resorts. Los Angeles County covers approximately 4,751 square miles and is bordered by Ventura County, Kern County, San Bernardino County, Orange County, and the Pacific Ocean. There are 88 incorporated cities and many unincorporated areas in Los Angeles County.

The transportation system is Los Angeles County is one of the largest systems in the United States. It serves as a regional, national, and international hub for passenger and freight traffic. This infrastructure includes light rail lines, subway lines, airports, bus lines, freeways, and roads. Union Station is the major regional train station for Metro Rail, Metrolink, and Amtrak. As for the international trade ports (Port of Los Angeles and Port of Long Beach), they comprise the largest seaport complex in the United States.

FAST FACTS

FOUNDED February 18, 1850 POPULATION 10,163,507 TOTAL EMPLOYMENT 3,871,716 MEDIAN HOUSEHOLD INCOME $61,338 ESTIMATED HOMES 3,542,636 HOME OWNERSHIP RATE 46% (55% California)

COUNTY OVERVIEW LAND ADVISORS 21 Los Angeles County EMPLOYMENT

Los Angeles County has experienced high and low unemployment rates over the past 18 years. Since 2010, the county has seen decreasing numbers in the unemployment rate. The average unemployment rate since 2000 in Los Angeles County is 7.4.

14.0 12.5 12.2 11.6 12.0 10.9 9.8 10.0 8.3 7.6 7.0 7.1 8.0 6.7 6.5 5.4 5.7 5.4 6.0 4.8 5.1 5.1 4.7 4.1

Percentage (%) 4.0

2.0

0.0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 YTD HOUSING

As economic conditions have improved, home prices have stabilized countywide and, more recently, have trended upward. Since 2013, the County’s median home price has increased steadily.

$700,000

$600,000

$500,000 $608,500 $608,500

$400,000 $568,750 $529,250 $529,250 $489,500 $489,500 $300,000 $458,417 $429,200 $429,200 $416,750 $416,750 Median Home Pricing Home Median $400,400 $400,400 $388,667 $388,667 $361,083 $361,083 $200,000 $364,333

$100,000 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 YTD

COUNTY OVERVIEW LAND ADVISORS 22 Pasadena THE CROWN CITY

As the main population and cultural center of the , Pasadena is a city revered for its charm, natural beauty, culture, and architectural inspiration. It is a dynamic place to live, work, and play, and it is a growing center for innovation in technology, education, science, and health.

Pasadena has something for everyone. Visitors can find world class museums, galleries, and artistic performances at a variety of venues, such as the Norton Simon Museum, Pacific Asia Museum, Art Center College of Design, Pasadena Museum of History, and the Huntington Library and Botanical Gardens. For live action, Pasadena offers top notch professional performances at the Pasadena Playhouse and Civic Auditorium, and the Crown City’s rich 125 years of history is most famously put on display every January in the and Rose Bowl Game.

The city is world renowned for its scientific institutions, including California Institute of Technology (Caltech), NASA’s Jet Propulsion Laboratory (JPL), the Carnegie Observatories, the Planetary Society, and the Mount Wilson Observatory. Pasadena is also an innovator in the medical field through efforts at Huntington Hospital, Keck Medicine of USC, Shriners Children Hospital, and the newly announced construction of Kaiser Permanente’s medical school.

Those shopping in Pasadena can choose from trendy boutiques, international retailers, independent shops, and national chains, primarily situated in several distinct shopping districts such as Old Town Pasadena, Playhouse District, Paseo Colorado, and South Lake Avenue.

For ease of access, Pasadena offers multiple Gold Line light rail stations linking the City to Downtown Los Angeles in less than 25 minutes. From there, the ever expanding Metro rail network links travelers to a myriad of cultural and recreational highlights in greater Los Angeles County.

CITY OVERVIEW LAND ADVISORS 23 Live in Pasadena

15 23 69 1866 MILES NORTH OF SQUARE MILES AVERAGE YEAR INCORPORATED DOWNTOWN LA TEMPERATURE

141,510 2.51 $628,000 POPULATION AVERAGE HOUSEHOLD SIZE MEDIAN PROPERTY VALUE

Urban Walkability

Pasadena offers 700 restaurants, bars, and coffee shops giving residents a plethora of options for all types of people and their unique tastes. In addition, numerous retail and entertainment options are available within an easy walk or bike ride of the Property. Notable destinations include Pasadena Civic Center, Paseo Colorado, Old Pasadena, and the Playhouse District.

82 95 15 WALK SCORE BIKE SCORE MINUTE WALK TO MEMORIAL PARK STATION

CITY OVERVIEW LAND ADVISORS 24 Work in Pasadena

Pasadena’s economy is largely comprised of companies and institutions specializing in technology, finance, education, and healthcare.

LARGEST EMPLOYERS EMPLOYMENT BY OCCUPATION

▲ California Institute of Technology ▲ Jacobs Engineering Group Management ▲ City of Pasadena ▲ Jet Propulsion Laboratory Administrative Sales ▲ East West Bank ▲ Kaiser Permanente Education ▲ Huntington Memorial Hospital ▲ Pasadena Unified School District Business & Financial Arts & Recreation Food Other INNOVATIVE TECHNOLOGY ADVANCED HEALTHCARE Personal Care Cleaning & Maintenance There are over 150 design, start-up, and Healthcare is not only the largest industry in Construction technology companies in Pasadena. Notable Pasadena, it also employs more than any other Computer & Math innovators include: industry. Life & Physical Legal ▲ Caltech OTTP ▲ Huntington Memorial Hospital Architecture o Established in 1995 o Non-profit, independent hospital offering Production 619 beds Community Services o Started 130+ new companies 0% 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 11% 12% 13% Has about 1,800 active U.S. patents o Ranked by U.S. News & World Report as o the 4th best hospital in Los Angeles ▲ Idealab o Servicing the community for over 125 EMPLOYMENT BY INDUSTRY o A startup studio founded in 1996 years Professional, Technology o Created over 150 companies with more ▲ Kaiser Permanente than 45 IPOs and acquisitions. Education o Regional headquarters in Pasadena Healthcare ▲ JPL o New medical school under construction Retail o Founded in 1936 within walking distance to the Property Food o Carries out robotic space and Earth ▲ Shriners Children Hospital science missions Other o Opened in 2017, Shriners is known Manufacturing o Federally funded by Nasa nationally and internationally and Finance specializes in procedures for children 0% 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 11% 12% 13%

CITY OVERVIEW LAND ADVISORS 25 Play in Pasadena

As the cultural hub of San Gabriel Valley, the City of Pasadena is home to countless shopping, dining, and entertainment venues. Within a short distance of Fair Oaks are 4 distinct districts that offer non-stop entertainment day or night.

OLD TOWN PASADENA SOUTH LAKE AVENUE

▲ Over 300 bars, restaurants, and shops ▲ The Commons ▲ iPic Theaters ▲ The Shops on Lake Avenue ▲ Armory Center for the Arts ▲ Taste of South Lake ▲ Norton Simon Museum ▲ Rooftop Movie Series ▲ Levitt Pavilion at Memorial Park ▲ CalTech Speaker Series

CIVIC CENTER / PASEO COLORADO PLAYHOUSE DISTRICT

▲ Arclight Cinemas at Paseo Colorado ▲ Pasadena Playhouse ▲ Equinox Fitness Center ▲ Boston Court Performing Arts Center ▲ Pasadena Ice Skating Center ▲ Southern California Children’s Museum ▲ Pasadena Civic Auditorium ▲ Pasadena Museum of California Art ▲ Pasadena Convention Center ▲ USC Pacific Asian Museum ▲ Vroman’s Bookstore & Speaker Series

Other major entertainment venues and highlights include the Rose Bowl, Kidspace Children’s Museum, and the Huntington Library and Botanical Gardens. With so many things to see, do, enjoy, and be a part of, Pasadena is never short of exciting events for residents and visitors alike.

CITY OVERVIEW LAND ADVISORS 26 Metro Gold Line

Pasadena is served by six Gold Line stations: Fillmore Station, Del Mar Station in Old Pasadena, Memorial Park Station in Old Pasadena, Lake Station in Downtown, Allen Station, and Sierra Madre Villa Station.

FAIR OAKS

ANTICIPATED WAIT TIMES FROM MEMORIAL PARK STATION

WAIT TIME (MINUTES)

SOUTH PASADENA 8 min. UNION STATION / DOWNTOWN LA 25 min. USC (VIA TRANSFER) 45 min. ARCADIA 14 min. CITY OF HOPE / DUARTE 20 min. AZUSA PACIFIC UNIVERSITY 28 min.

CITY OVERVIEW LAND ADVISORS 27 Offering Guidelines Offers Due by Tuesday, August 14, 2018

OFFERS DUE CLOSE OF ESCROW Submit offers in writing by Tuesday, August 14, 2018 at 5PM PDT to: The Close of Escrow shall occur on or before 15 days after expiration of feasibility, or 10 days after delivery of the site in the agreed upon condition. ▲ Richard Byrd | [email protected] ▲ Tim Barden | [email protected] OFFER DETAILS ▲ Chris Gomez-Ortigoza | [email protected] Please submit offer in the form of a Letter of Intent. Bids should identify the proposed Buyer, its principals and/or material aspects of its corporate organization. Buyer’s PURCHASE PRICE submission should include information regarding Buyer’s relevant experience and financial wherewithal and its intended equity and debt sources for consummating Please submit all-cash offer. the Transaction. LETTER OF INTENT “AS-IS” SALE: NO REPRESENTATIONS & WARRANTIES The Property shall be removed from the market and the Feasibility Period shall The Property is being sold “as-is” with no representations or warranties from either commence upon the execution of a Letter of Intent (LOI). the Seller or its Affiliates. The information provided is intended to help a Buyer FEASIBILITY PERIOD develop an offer to purchase the Property, but the buyer must not rely on anything Buyer shall have a Feasibility Period of 30 days in which to investigate all aspects other than its own due diligence. of the Property, including the physical condition of the Property. The Feasibility BROKERAGE FEE Period shall begin upon the execution of the LOI and receipt of all approved The brokerage fees will be paid for by the Seller. Seller expressly reserves the right, plans. at their sole discretion, to reject any or all expressions of interest or offers to DEPOSIT purchase the Property and/or to terminate discussions with any party at any time with or without notice. Brokers, please call for co-op information. The Initial Deposit shall be equal to five percent (5%) of the gross Purchase Price. Said Initial Deposit shall be paid at the Opening of Escrow and shall remain BROKERAGE DISCLOSURES refundable during the Feasibility Period. Upon Buyer’s approval of Feasibility, Land Advisors Organization may act as Seller’s agent for more than one prospective escrow shall release the deposit and the deposit shall be non-refundable and Buyer on the subject property. Any prospective Buyer requesting Land Advisors to applicable to the Purchase Price. submit an offer on its behalf acknowledges the foregoing disclosures and agrees to PROPERTY CONDITION AT CLOSE OF ESCROW the described agency relationships as with other prospective Buyers. Pursuant to S.B. 1171, all offers on real estate in the State of California are required to be The Property will be delivered with both relocation homes placed in their final destinations. Buyer is responsible for foundations and all site improvements. accompanied by an executed version of the Brokerage Disclosures forms. Please request and fill out the forms and return them with your offer.

OFFERING GUIDELINES LAND ADVISORS 28 Confidentiality & Disclaimer

The information contained in this offering material (“Brochure”) is confidential, furnished solely for the purpose of a review by prospective purchaser of any portion of Fair Oaks within the City of Pasadena, Los Angeles County, California (“Property”) and is not to be used for any other purpose or made available to any other person without the express written consent of Park Place Partners, Inc. d/b/a Land Advisors Organization (“Land Advisors”). The material is based in part upon information supplied by Balian Investments, LLC (“Seller”) and in part upon information obtained by Land Advisors from sources it deems reasonably reliable. Summaries of any documents are not intended to be comprehensive or all- inclusive but rather only an outline of some of the provisions contained therein. No warranty or representation, expressed or implied, is made by Seller, Land Advisors, or any of their respective affiliates, as to the accuracy or completeness of the information contained herein or as to engineering or environmental matters. Prospective purchasers should make their own projections and conclusions without reliance upon the materials contained herein and conduct their own independent due diligence, including engineering and environmental inspections, to determine the condition of the Property and the existence of any potentially hazardous material located at the site.

This Brochure was prepared by Land Advisors. It contains select information pertaining to the Property and does not purport to be all-inclusive or to contain all of the information that a prospective purchaser may desire. All assumptions are provided for general reference purposes only and are based on assumptions relating to the general economy, competition and other factors beyond control and, therefore, are subject to material change or variation.

In this Brochure, certain documents and other materials are described in summary form. The summaries do not purport to be complete nor, necessarily, accurate descriptions of the full agreements involved, nor do they constitute a legal analysis of such documents. Interested parties are expected to independently review all documents.

This Brochure is subject to prior placement, errors, omissions, changes or withdrawal without notice and does not constitute a recommendation, endorsement or advice as to the value of the Property by Land Advisors or the Seller. Each prospective purchaser is to rely upon its own investigation, evaluation and judgment as to the advisability of purchasing the Property described herein.

Seller and Land Advisors expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers to purchase the property and/or to terminate discussions with any party at any time with or without notice. Seller shall have no legal commitment or obligation to any purchaser reviewing this Brochure or making an offer to purchase the Property unless a written agreement for the purchase of the Property has been fully executed, delivered and approved by the Seller and any conditions to Seller's obligations there under have been satisfied or waived. Land Advisors is not authorized to make any representations or agreements on behalf of Seller.

This Brochure is the Property of Land Advisors and may be used only by parties approved by Land Advisors. The Property is privately offered and, by accepting this Brochure, the party in possession hereof agrees (i) to return it to Land Advisors immediately upon request of Land Advisors or Seller and (ii) that this Brochure and its contents are of a confidential nature and will be held and treated in the strictest confidence. No portion of this Brochure may be copied or otherwise reproduced or disclosed to anyone without the prior written authorization of Land Advisors and Seller.

Please be advised, Buyer acknowledges that Park Place Partners, Inc. d/b/a Land Advisors Organization, may (1) act as an agent for more than one prospective Buyer on the Property and/or (2) act as the agent for both the Buyer and Seller on the subject property. Any prospective Buyer requesting Land Advisors to submit an offer on its behalf acknowledges the foregoing disclosures and agrees to the described agency relationships with other prospective Buyers.

The terms and conditions set forth above apply to this Brochure in its entirety.

OFFERING GUIDELINES LAND ADVISORS 29 Brokerage Disclosure

DISCLOSURE AND CONSENT FOR REPRESENTATION OF MORE THAN ONE BUYER OR SELLER EXCERPTS FROM – C.A.R. FORM DA, 11/06

A real estate broker, whether a corporation, partnership or sole proprietorship, (“Broker”) may represent more than one buyer or seller provided the Broker has made a disclosure and the principals have given their consent. This multiple representation can occur through an individual license as a broker or through different associate licensees acting for the Broker. The associates licensees may be working out of the same or different office locations.

Broker may be working with many prospective buyers at the same time. These prospective buyers may have an interest in, and make offers on, the same properties. Some of these properties may be listed with Broker and some may not. Broker will not limit or restrict any particular buyer from making an offer on any particular property whether or not Broker represents other buyers interested in the same property.

Broker (individually or through its associate licensees) may have listings on many properties at the same time. As a result, Broker will attempt to find buyers for each of those listed properties. Some listed properties may appeal to the same prospective buyers. Some properties may attract more prospective buyers than others. Some of these prospective buyers may be represented by Broker and some may not. Broker will market all listed properties to all prospective buyers whether or not Broker has another or other listed properties that may appeal to the same prospective buyers.

Buyer and Seller understand that Broker may represent more than one buyer or seller and even both buyer and seller on the same transaction.

If Seller is represented by Broker, Seller acknowledges that Broker may represent prospective buyers of Seller’s property and consents to Broker acting as a dual agent for both Seller and Buyer in that transaction.

If Buyer is represented by Broker, Buyer acknowledges that Broker may represent sellers of property that Buyer is interested in acquiring and consents to Broker acting as a dual agent for both Buyer and Seller with regard to that property.

In the event of a dual agency, Seller and Buyer agree that: (a) Broker, without the prior notice written consent of the Buyer, will not disclose to the Seller that the Buyer is willing to pay a price greater than the offered price; (b) Broker, without the prior written consent of the Seller, will not disclose to the Buyer that Seller is willing to sell property at a price less than the listing price; and (c) other than as set forth in (a) and (b) above, a Dual Agent is obligated to disclose known facts materially affecting the value or desirability of the property to both parties.

NON CONFIDENTIALITY OF OFFERS: Buyer is advised that Seller or Listing Agent may disclose the existence, terms, or conditions of Buyer’s offer unless all parties and their agent have signed a written confidentiality agreement. Whether any such information is actually disclosed depends on many factors, such as current market conditions, the prevailing practice in the real estate community, the Listing Agent’s marketing strategy and the instructions of the seller.

Seller and/or Buyer acknowledges reading and understanding this Disclosure and Consent for Representation of More than One Buyer or Seller and agree to the dual agency possibility disclosed.

Sources used throughout this package: 2018 Best Schools Niche, Apartments.com, City of Pasadena, Community Websites, CoStar, County of Los Angeles, Data USA, Federal Reserve Economic Data, Foothill Gold Line, LA Times, Land Advisors research, Pasadena Unified School District, School Ratings, Snazzy Maps, Zillow, and Zonda.

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