Offering Memorandum December 2019

CLOSE-IN NE PORTLAND DEVELOPMENT OPPORTUNITY

OFFERING MEMORANDUM DECEMBER 2019

100 MULTNOMAH NE PDX

Jeff Falconer, SIOR McCoy Doerrie David Tabata Principal Broker Vice President Vice President 503.542.4346 503.517.7120 503.542.4348 [email protected] [email protected] [email protected] CONTENTS

EXECUTIVE SUMMARY pg.3

MARKET OVERVIEW pg.15

100 MULTNOMAH | Portland, OR Offering Memorandum | pg. 1 EXCLUSIVE ADVISORS

Jeff Falconer, SIOR McCoy Doerie David Tabata Principal Broker Vice President Vice President 503.542.4346 503.517.7120 503.542.4348 CAPACITY COMMERCIAL GROUP [email protected] [email protected] [email protected] 805 SW Broadway, Suite 700 Portland, OR 97205 + p: 503.326.9000 CONFIDENTIALITY & CONDITIONS

The Memorandum is confidential, furnished solely for the purpose of a review by a prospective purchaser of the Property and is not to be used for any other purpose or made available to any other person without the express written consent of Capacity Commercial Group. The Memorandum is based in part upon information supplied by the Seller and in part upon information obtained by Capacity Commercial Group from sources it deems reasonably reliable. No warranty or representation, expressed or implied, is made by Seller, Capacity Commercial Group, or any of the 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 material contained herein and conduct their own independent due diligence. An opportunity to inspect the Property will be made available to qualified prospective purchasers.

The Memorandum 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 Capacity Commercial Group or the Seller. Each prospective purchaser is to rely upon its own investigation, evaluation, and judgment as to the advisability of purchasing the Property and does not purport to be all inclusive or to contain all of the information which prospective purchasers may desire. It should be noted that all financial projections are provided for general reference purposes only, in that they are based on assumptions relating to competition, the general economy, and other factors which may or may not be accurate. The Seller and Capacity Commercial Group expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers to purchase the Property and/or 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 Memorandum or making an offer to purchase this 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 thereunder have been satisfied or waived. The Seller will not consider uninvited proposals submitted by brokers and will not pay any commission or other consideration to any broker or intermediary. Capacity Commercial Group is not authorized to make any representations or agreements on behalf of Seller.

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

100 MULTNOMAH | Portland, OR Offering Memorandum | pg. 2

SITE SUMMARY EXECUTIVE SUMMARY

Site Size: 38,241 square feet/0.88 Acres Tax ID: R140977 100 Multnomah Opportunity: Approximately 120k SF Class A office tower, built (1075 NE 2nd Avenue) on the 442 stall parking structure and retail space

Portland, Oregon Current Improvements: 97232 -442 Stall parking Structure (owned by Prosper Portland) -Approximately 1,500 SF Retail Space (owned by Prosper Portland) -Approximately 19,100 SF Condominium (owned and occupied by Trimet)

Walking Score: Very Walkable (84) Biking Score: Bikers Paradise (96) Transit Score: Excellent Transit (89)

100 MULTNOMAH | Portland, OR Offering Memorandum | pg. 4 OFFERING SUMMARY EXECUTIVE SUMMARY

Currently completed is a 7-story, 442 stall parking structure, of which 375 stalls will be made available on a ﬁrst-priority basis to the Hyatt Regency and 50 stalls are owned and controlled by TriMet. Additionally, there is a 19,100 SF condominium on the lower two ﬂoors owned, occupied and managed by TriMet.

OPPORTUNITY

›› CONDOMINIUM OWNERSHIP OF 9-STORY, CLASS A OFFICE DEVELOPMENT ADJACENT TO AND ON TOP OF A 442 STALL, 7-STORY PARKING STRUCTURE ›› DESIGNED: 120,000 SF 9-STORY CLASS A LEED GOLD OFFICE TOWER (FLYER PAGE 25)

›› CBD OPPORTUNITY ZONE OREGON4BIZ.COM/OPPORTUNITY-ZONES

›› CBD ENTERPRISE ZONE PROSPERPORTLAND.US/PORTFOLIO-ITEMS/PORTLAND-ENTERPRISE-ZONE ›› LOT SIZE: 0.88 ACRES ›› ZONING: CX (CENTRAL COMMERCIAL) ›› PARKING STRUCTURE: COMPLETED JULY 2019

100 MULTNOMAH | Portland, OR Offering Memorandum | PG. 5 DEVELOPMENT PARTNER EXECUTIVE SUMMARY

IDEAL DEVELOPMENT PARTNER IDEAL DEVELOPMENT This development opportunity is located in what PARTNER was a predominantly African-American neighborhood. Residents and businesses in this area were subject to displacement through disciminatory practices. Prosper Portland’s Equity Policy encourages broadening economic opportunities and promoting wealth creation to People of Color and historically underrepresented and disadvantaged Portlanders. To this end, Prosper Portland’s ideal development partner and preferences are:

DEVELOPMENT TEAM PREFERENCES • Local African-American developers and individuals in the real estate / leasing / development / construction industry. First Priority: • Local African-American owned businesses who may be potential tenants or investors • Local non-proﬁts that provide service to the African- American community who may be potential tenants. • National African-American developers / development Second Priority: teams • Any / all interested, capable and resourced developers / Third Priority: development teams, both locally and nationally.

100 MULTNOMAH | Portland, OR Offering Memorandum | PG. 6 OFFERING SUMMARY EXECUTIVE SUMMARY TIMELINE

MAR ‘19 50% COMPLETION OF SCHEMATIC DESIGN

JULY ‘19 50% COMPLETION OF DD

SEPT ‘19 100% COMPLETION OF DD / DESIGN REVIEW APPROVAL

NOV ‘20 75% COMPLETION OF CONSTRUCTION DOCS

JUN ‘20 ABILITY TO START CONSTRUCTION

JAN ‘22 POTENTIAL CONSTRUCTION COMPLETION

OFFERING TERMS

Offers should be presented in the form of a nonbinding letter of intent, spelling out the signiﬁcant terms and conditions, including, but not limited to: ‹ 1 › Asset Pricing, ‹ 2 › Due diligence and closing time frame, ‹ 3 › Earnest money deposit, ‹ 4 › A description of the debt/equity structure, and ‹ 5 › Qualiﬁcations to close: Financial capabilities to be described and experience in development projects of similar size and scope

Offers and development plan should be delivered to the attention of Capacity Commercial Group. All terms of a Purchase and Sale Agreement shall first be approved by Prosper Portland. Any material submitted to Prosper Portland may be deemed a public record and may be subject to disclosure upon request. The purchaser of the Property will be required to comply with the Business Equity Program and the Workforce Equity Program. Prosper Portland’s construction and contracting business practices are designed to improve the success rate of local small businesses, support the growth of construction and development firms owned by women and people of color, and maximize apprenticeship and employment opportunities for women and people of color. The Business Equity Program is a commitment to creating equitable outcomes by ensuring that Prosper Portland’s contracts provide opportunities for minority, women and emerging small businesses. The overarching goal is to reduce obstacles to lasting prosperity by promoting economic growth, building capacity and expanding competition in the marketplace. The program has specific requirements for agency-supported, hard-construction projects as well as for real property sold to a private party involving hard-construction costs. The goal of the Workforce Equity Program is for the Contractor’s workforce to reflect the diversity of the workforce found in the City of Portland. https://prosperportland.us/portfolio-items/business-equity-program/

100 MULTNOMAH | Portland, OR Offering Memorandum | PG. 7 ZONING SUMMARY EXECUTIVE SUMMARY

OPPORTUNITY CX ZONE ZONE AND ENTERPRISE The CX Zone is a high-density commercial zone intended for ZONE development within Portland’s most urban and intense areas. The CX zone allows for intense development with high building coverage and large buildings placed close together. Development is intended to be pedestrian oriented with a strong emphasis on a safe and attractive landscape. (portlandmaps.com)

ZONING CODE: High Density Commercial FAR: 12:1 HEIGHT RANGE: 250 feet max MIN BUILDING SETBACKS STREET LOT LINE: None MAX BUILDING COVERAGE: 100% of site area MINIMUM LANDSCAPED AREA: None GROUND FLOOR WINDOW STANDARDS APPLY: Yes PEDESTRIAN STANDARDS APPLY: Yes

100 MULTNOMAH | Portland, OR Offering Memorandum | PG. 8 Map No. 1N1E34AA 03800 CHICAGO TITLE COMPANY 10151 S.E. SUNNYSIDE ROAD Suite 300 CLACKAMAS, OREGON 97015

This map/plat is being furnished as an aid in locating the herein described Land in relation to adjoining streets, natural boundaries and other land, and is not a survey of the land depicted. Except to the extent a policy of title insurance is expressly modified by endorsement, if any, the Company does not insure dimensions, distances, location of easements, acreage or other matters shown thereon. ZONING SUMMARY EXECUTIVE SUMMARY

OPPORTUNITY ZONE OPPORTUNITY In 2018, the U.S. Treasury made opportunity zone ZONE designations across the country to encourage long-term investments through a federal tax incentive. Governor Brown’s nomination resulted in 86 qualiﬁed opportunity zones in Oregon.

Opportunity Zones can deliver signiﬁcant tax savings on medium- to long- term investments in economically disadvantaged communities. This new tax incentive pertains to both the capital gains invested initially through a qualiﬁed opportunity fund (QOF), as well as future capital gains earned on the original investment in zone-based businesses or projects.

Each zone consists of an entire census tract, as established for the decennial U.S. Census. Tracts vary in size but generally align with population density. Oregon has 834 census tracts, more than 300 of which were eligible by meeting the deﬁnition of a “low income community” in terms of median family incomes or poverty rates. Oregon could nominate up to 86 zones, as each state was allowed up to 25% of its low income communities for designation.

The designations are in effect until December 31, 2028, and offer a predictable basis for private investment decisions over several years. Current federal law provides no means to change or add zones.

TAX ADVANTAGES

The private capital for projects or businesses in a qualiﬁed opportunity zone will arise primarily from the unrealized capital gains of U.S. taxpayers— that is, the increased value of assets (stocks, land, etc.) since they were originally purchased by the individual or corporation currently holding the asset. When an asset is sold and the gains realized, an income tax liability is normally generated.

www.oregon4biz.com/Opportunity-Zones/

100 MULTNOMAH | Portland, OR Offering Memorandum | PG. 9 ZONING SUMMARY EXECUTIVE SUMMARY

ENTERPRISE ZONE ENTERPRISE In 2017, The City of Portland and Prosper Portland took a ZONE bold step, turning a traditional economic development program incentive into an innovative, nation-leading model which aims to identify shared values between business, community, and the public sector.

The Oregon E-Zone Program is a state economic development program that allows property tax exemptions for up to five years in exchange for certain public benefits. Participating firms are required to meet the program requirements set by state statute and the local sponsor.

The Portland Enterprise Zone exists primarily to incentivize firms to invest major capital outlays and to create or retain quality jobs by offering property tax exemptions designed to encourage existing and new businesses. The E-Zone geography has evolved over time, most recently with the 2012 addition of East Portland, reflecting the city’s commitment to ensure more broadly shared community benefit by focusing predominantly on the area east of Cesar Chavez Boulevard.

The City, as the E-Zone Sponsor, and Prosper Portland, as E-Zone Manager, each have a unique and critical role in creating an equitable economy for all Portlanders.

COMPANY ADVANTAGES

The E-Zone program allows qualified firms that will be making a substantial new capital investment a waiver of 100 percent of the amount of real property taxes attributable to the new investment for a five- year period after completion. Land or existing machinery or equipment is not tax exempt.

prosperportland.us/portfolio-items/portland-enterprise-zone/

100 MULTNOMAH | Portland, OR Offering Memorandum | PG. 10 100 MULTNOMAH | Portland, OR Offering Memorandum | PG. 11 INVESTMENT OPPORTUNITY EXECUTIVE SUMMARY

The Property is located at 1074 NE 2nd Avenue, Portland, OR 97232, and occupies a full city block located in the heart of the Lloyd Center entertainment district. It is bordered on the NW corner by the Moda Center, home of the Portland Trailblazers and concert venue, and to the south and east by the Oregon Convention Center and now open 600- room Convention Center hotel operated by Hyatt Regency. The property faces Interstate 5 with approximately 150,000 cars per day and the ofﬁce building will tower over it, sitting eight decks above ground level with unparalleled views of the river, city skyline and bridges to the west, as well as mountain views to the east and north. Area amenities abound with convenient transit services including the nearby Rose Quarter Transit Center and regional MAX light rail service providing immediate access to the airport and the Metro Area.

100 MULTNOMAH | Portland, OR Offering Memorandum | PG. 12 NEIGHBORHOOD INFORMATION EXECUTIVE SUMMARY

Lloyd District is the place to be

Sitting right on the edge of the Lloyd and Central Eastside, it is very easy to get around the Portland Metro Area from here. The property is located just a bridge walk away from the Central Business District and is in proximity to the Lloyd Center Mall, dozens of coffee houses, distilleries and brew-pubs. 100 NE Multnomah’s convenient placement makes getting to your favorite Portland spots easier than ever.

100 MULTNOMAH | Portland, OR Offering Memorandum | PG. 13 NEIGHBORHOOD INFORMATION EXECUTIVE SUMMARY RECENT RESURGENCE OF THE LLOYD DISTRICT

Over the past 10 years, the area between the Willamette River and the Mall has transformed with 892 new refurbished hotel rooms which has helped to spur strong demand for office space. Arrow retail has had an ongoing 100 million dollar full renovation of the historic Lloyd Center Mall to embrace todays changing retail environment converting large vacancies into creative office and food cart pods.

100 MULTNOMAH | Portland, OR Offering Memorandum | pg. 14

LLOYD OFFICE MARKET MARKET OVERVIEW

OFFICE RATES:

As of December 2019, close in southeast side class A rates rose to $26.02/SF while the Central Business District rose to $32.72/SF. The Lloyd District rose to $30.01/SF with Lloyd boasting the lowest vacancy rate of 3.17%. The represents a 16% increase in rates over the past 3 years, and approximately 320,000 SF of total absorption in the same period.

In the Lloyd and Close-In SE submarkets of Portland, there are currently 8 class A buildings over 50,000 square feet, for a total of 1,490,912 RSF.

LLOYD DISTRICT CLASS A OFFICE

Building Name Developer Total RBA Stories Percent Leased 1 Lloyd Center Tower American Assets Trust 428,325 SF 20 100% 2 Lloyd 700 American Assets Trust 247,385 SF 16 100%

Urban Renaissance Liberty Centre 285,000 SF 17 91.00% 3 Group 4 830 Oregon Square American Assets Trust 55,395 SF 3 100% Easterly The 1201 Lloyd Building Government 225,057 SF 11 99% 5 Properties, Inc.

Second City Capital 1500 Building 72,572 SF 5 92.9% 6 Partners

Towne Storage CBRE Global 100,022 SF 6 100% 7 Investors Ltd. 8 Clay Creative Killian Paciﬁc 77,156 SF 5 92.3%

100 MULTNOMAH | Portland, OR Offering Memorandum | PG. 16 LLOYD OFFICE MARKET MAP MARKET OVERVIEW

NE Weidler 1 NE Multnomah 2 3 4 5

6 NE Lloyd Blvd NE Glisan

Sandy Blvd

7 NE Grand

E Burnside

Willamette River SE Morrison SE Belmont

SE Madison SE Hawthorne 8

100 MULTNOMAH | Portland, OR Offering Memorandum | PG. 17 OFFICE MARKET MARKET OVERVIEW

CURRENT OFFICE MARKET CONDITIONS:

At the end of the third quarter 2019 the Lloyd District had a total ofﬁce square footage of 5,473,852 square feet with 491,067 available giving the Lloyd District a total availability of 8.7%. In the SE Close-In submarket there was a total square footage of 3,340,320 square feet with 240,025 square feet available giving the SE Close-In an availability of 6.92%. In total the CBD submarket had a total square footage 28,122,495 square feet with 4,747,746 square feet available giving the CBD submarket a total of 16.7% vacancy. The NE Close-In submarket has a total square footage of 1,803,490 square feet with 77,855 square feet available giving the NE Close-In a 4.32% availability rate. OFFICE (END OF Q3 2019) LLOYD Total RBA 5,473,852 Total Available SF 491,067 Availability Rate 8.7% 12 Mo. Net Absorption 106,592 12 Mo. Deliveries 30,000 Total SF Under Construction 200,401 NE CLOSE-IN Total RBA 1,803,490 Total Available SF 77,855 Availability Rate 4.32% 12 Mo. Net Absorption 25,153 12 Mo. Deliveries 5,547 Total SF Under Construction 0 SE CLOSE-IN Total RBA 3,340,320 Total SF Available 240,025 Availability Rate 6.92% 12 Mo. Net Absorption 56,200 12 Mo. Deliveries 5,707 Total SF Under Construction 128,848 DOWNTOWN (CBD) Total RBA 28,122,495 Total SF Available 4,747,746 Availability Rate 16.67 12 Mo. Net Absorption -414,419 12 Mo. Deliveries 86,888 Total SF Under Construction 366,371

100 MULTNOMAH | Portland, OR Offering Memorandum | PG. 18 100 MULTNOMAH | Portland, OR Offering Memorandum | PG. 19 LLOYD DEVELOPMENT MARKET OVERVIEW

Directly adjacent to 100 Multnomah, and located on the adjacent lot, there is a new 600-room Hyatt Regency under construction also known as the Convention Center Hotel. This hotel will provide accommodations for events held at the Oregon Convention Center which is located directly across the street (NE Holladay). In addition to the hotel, 3 multi-family developments in the immediate area have been recently completed, or are currently under construction. Located at 1010 NE Grand Ave. is a 240-unit multi-family development totaling 192,000 square feet. Just down the street at 2000 NE Multnomah St., is a 162-unit apartment building total 145,600 square feet and is set to complete construction September 2019. Completed in early 2015, is the Lloyd District’s largest multi-family project located at 1061 NE 9th Ave. (Hassalo on Eighth) and is 657 units totaling 750,000 square feet.

LLOYD SUBMARKET DEVELOPMENT Address Developer Delivery Total SF Units Product Type

Convention Center Hotel Mortenson Jan. 2020 TBD 600 Hotel 375 NE Holladay St.

Block 45 - 1010 NE Grand Ave. Home Forward April 2020 192,000 SF 240 Multi-Family

Completed TwentyTwenty Multi-Family/ September 145,600 SF 162 2000 NE Multnomah St. PHK Development Condos 2019

Hassalo on Eighth American Assets Jul 2015 750,000 SF 657 Multi-Family 1061 NE 9th Ave. Trust

100 MULTNOMAH | Portland, OR Offering Memorandum | PG. 20 NEARBY DEVELOPMENT MARKET OVERVIEW

During the ﬁrst quarter of 2018 a 72,032 square foot building at 120 SE Clay St. (Clay Pavilion) was completed in the Close-In Eastside. Clay Pavilion totals 3 ﬂoors and is currently 100% leased. Additionally, in May of 2018 Autodesk leased 100% of the fully redeveloped 100,022 SF Towne and Storage Building.

As of first quarter of 2019, 3 office buildings totaling 276,798 square feet are currently under construction in the Close-In Eastside/ Lloyd District. At 525 SE Martin Luther King Blvd. a 79,500 square foot building consisting of 72,000 square feet of office space is underway. Located at 7 SE Stark there is a 78,298 square foot building development that is 100% office. A 440,000 square foot mixed-use building located at 5 SE Martin Luther King Jr. Blvd. is currently under construction, which includes 120,000 SF of Class A office upon delivery in December 2019. DEVELOPMENT WITHIN 0.25 MILES Address Developer Delivery Total SF Office SF Stories Vacancy

5 MLK Gerding Edlen Q1 2020 120,000 SF 120,000 SF 5 100% 5 SE MLK Jr. Blvd.

District Ofﬁce Beam Q2 2019 90,000 SF 75,000 SF 6 31% 525 SE MLK Jr. Blvd.

7 SE Stark Harsch Q3 2019 78,298 SF 78,298 SF 4 100% 7 SE Stark Street

PROPOSED DEVELOPMENT

Within the Downtown Portland area there are 3 Class A office development projects proposed, of which 2 are located in the Lloyd and Close-In Eastside submarkets. 920 SE Stark is designed and aimed at Biotech companies, which is an emerging trend in this submarket. If all buildings are completed the 3 office buildings will add a total of approximately 460,000 square feet to the Portland office market.

UPCOMING DEVELOPMENT Address Developer Start Date Total SF Stories

NIR Center Summit Development TBD 260,000 SF 10 920 SE Stark St. Group

Oregon Square Tower 300,000 - American Assets Trust TBD 16 827 NE Oregon St. 350,000 SF

Eleven West TBD 131,205 SF 5 1116 SW Washington St. Goodman

100 MULTNOMAH | Portland, OR Offering Memorandum | PG. 21 WHY PORTLAND?

Portland is home to the Silicon Forest because of the plethora of technology companies that have chosen to make their home here and its proximity to high tech cities of San Francisco and Seattle. Portland counts tech industry stalwarts Intel (its top-ranking private employer), Google, and Oracle among the many top companies with operations in the metro area, along with newcomers such as eBay, Mozilla, Airbnb, and Salesforce.com.

PORTLAND - THE SILICON FOREST NOTABLE COMPANIES

“Portland ranked #3 on Forbes 2018 Best Places For Business” “Portland ranked #17 on Forbes Top 25 Fastest Growing Cities in the USA”

100 MULTNOMAH | Portland, OR Offering Memorandum | PG. 22 PORTLAND ECONOMY

Portland has ranked among the top five places for business by Forbes for the past four years. Credit its strong growth prospects and a large influx of highly-educated millennials. The city is home to Portland Community College, Portland State University, Oregon Health & Science University, University of Portland, Reed College, and Lewis & Clark College.

PORTLAND INCOME BY POPULATION PERCENT

Portland Portland Metro Oregon State United States

12.5% UNDER 9% $15K 11.2% 11.5% $15K - 4.4% $20K 3.8% 4.7% 4.9% $20K - 8.5% $30K 8.3% 10.2% 9.7% $30K - 8% $40K 8.3% 9.6% 9.3% $40K - 8.1% $50K 8.1% 8.8% 8.5% $50K - 7.3% $60K 7.8% 8.0% 7.7% $60K - 9.7% $75K 10.3% 10.7% 9.9% $75K - 12.7% $100K 13.9% 12.9% 12.3% $100K - 15.1% $150K 16.8% 13.8% 14.1% $150K - 6.1% $200K 6.8% 5% 5.8% Over 7.6% $200K 6.9% 5.0% 6.3%

100 MULTNOMAH | Portland, OR Offering Memorandum | pg. 23 DEMOGRAPHICS MARKET OVERVIEW

Population of Portland Metro Area: 2,478,810 Projected Population By 2035: Approximately 3 Million Current Unemployment Rate for Portland: 3.90% Current Oregon Unemployment Rate: 4.40%

POPULATION 1 Mile 3 Miles 5 Miles

2019 Total Population 34,739 231,331 440,068

2024 Projected Population 38,515 247,439 466,789

Population Growth 10.87% 6.96% 6.07% 2019-2024

HOUSEHOLD 1 Mile 3 Miles 5 Miles

2019 Total Households 20,320 114,255 200,145

Household Growth 11.24% 7.02% 6.05% 2019-2024

Median Household Income $60,051 $71,121 $71,453

100 MULTNOMAH | Portland, OR Offering Memorandum | PG. 24 DELIVERABLE Q4 2021

Lloyd Center Memorial Coliseum 100 MULTNOMAH Moda office tower Center ›› 120,000 RSF OF LEED GOLD CLASS A OFFICE SPACE ›› DESIGN REVIEW APPROVAL RECEIVED AUGUST 2019 ›› ENTERPRISE & OPPROTUNITY ZONE ›› TOP FLOOR LOUNGE AND EVENT SPACE WITH AMAZING VIEWS OF PORTLAND SKYLINE AND RIVER. Oregon Convention WILL BE AVAILABLE FOR USE BY ENTIRE BUILDING Center ›› MARKET LEADING AMENITIES INCLUDING ABOVE GRADE FITNESS CENTER, SHOWERS, AND BIKE PORTLAND STREETCAR PARKING TRIMET MAX ›› UP TO 2:1000 PARKING RATIO ›› SIGNIFICANT BUILDING SIGNAGE OPPORTUNITY ›› CONVENIENT CENTRAL CITY LOCATION ON LIGHT RAIL LINE. ACROSS FROM THE OREGON CONVENTION CENTER AND NEW HYATT REGENCY HOTEL

JEFF FALCONER, SIOR MCCOY DOERRIE DAVID TABATA 503.542.4346 503.517.7120 503.542.4348 [email protected] [email protected] [email protected] OFFERING TERMS 100 MULTNOMAH office tower Offers should be presented in the form of a nonbinding letter of intent, spelling out the significant terms and conditions, including, but not limited to: OPPORTUNITY ‹ 1 › Asset Pricing, ›› CONDOMINIUM OWNERSHIP OF 9-STORY, CLASS A OFFICE DEVELOPMENT ‹ 2 › Due diligence and closing time frame, ADJACENT TO AND ON TOP OF 442 STALL, 7-STORY PARKING STRUCTURE ‹ 3 › Earnest money deposit, ‹ 4 › A description of the debt/equity structure, and ›› DESIGNED: 120,000 SF 9-STORY CLASS A LEED GOLD OFFICE TOWER ‹ 5 › Qualifications to close: Financial capabilities to be described and experience in development projects of similar size and scope ›› CBD OPPORTUNITY ZONE oregon4 biz .com/opportunity- z ones Offers and development plan should be delivered to the attention of Capacity Commercial Group ›› CBD ENTERPRISE ZONE prosperportland.us/portfolio- items/portland- enterprise- z one All terms of a Purchase and Sale Agreement shall first be approved by Prosper Portland. Any material ›› LOT SIZE: 0.88 ACRES submitted to Prosper Portland may be deemed a public record and may be subject to disclosure upon request. ›› ZONING: CX (CENTRAL COMMERCIAL) ›› COMPLETION OF PARKING STRUCTURE: JUNE 2019

TIMELINE TYPICAL UPPER LEVEL (5-9)

MAR 19,810 Sq. Ft. 2019 100% COMPLETION OF SCHEMATIC DESIGN (Single Tenant Scenario)

JULY ›› Efficient floorplates for any size tenant 2019 50% COMPLETION OF DD

AUG 2019 100% COMPLETION OF DD / DESIGN REVIEW APPROVAL

NOV 2019 75% COMPLETION OF CONSTRUCTION DOCS TYPICAL LOWER LEVEL (2-4)

JUN 4,649 Sq. Ft. (Floor 2) ABILITY TO START CONSTRUCTION 6,960 Sq. Ft. (Floor 3-4) 2020 (Single Tenant Scenario) JAN CONSTRUCTION COMPLETION ›› Unique full floor presence for smaller tenants 2022 ›› Up to 15 foot clear ceiling height DELIVERABLE Q4 2021

JEFF FALCONER, SIOR MCCOY DOERRIE DAVID TABATA 503.542.4346 503.517.7120 503.542.4348 [email protected] [email protected] [email protected] Jeff Falconer, SIOR McCoy Doerrie David Tabata Principal Broker Vice President Vice President 503.542.4346 503.517.7120 503.542.4348 [email protected] [email protected] [email protected]