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Ascension Heights ASCENSION HEIGHTS FOR SALE 19 LOT SFD RESIDENTIAL SUBDIVISION І SAN MATEO, CA AFFILIATED BUSINESS DISCLOSURE benefit in determining whether you desire to including leases and other materials, in express further interest in the acquisition of summary form. These summaries may not be CBRE, Inc. operates within a global family of the Property, (ii) you will hold it in the strictest complete nor accurate descriptions of the full companies with many subsidiaries and related confidence, (iii) you will not disclose it or its agreements referenced. Additional information entities (each an “Affiliate”) engaging in a broad contents to any third party without the prior and an opportunity to inspect the Property range of commercial real estate businesses written authorization of the owner of the may be made available to qualified prospective including, but not limited to, brokerage services, Property (“Owner”) or CBRE, Inc., and (iv) you purchasers. You are advised to independently property and facilities management, valuation, will not use any part of this Memorandum in any verify the accuracy and completeness of investment fund management and development. manner detrimental to the Owner or CBRE, Inc. all summaries and information contained At times different Affiliates, including CBRE Global herein, to consult with independent legal and Investors, Inc. or Trammell Crow Company, may If after reviewing this Memorandum, you have financial advisors, and carefully investigate the have or represent clients who have competing no further interest in purchasing the Property, economics of this transaction and Property’s interests in the same transaction. For example, kindly return it to CBRE, Inc. suitability for your needs. ANY RELIANCE ON Affiliates or their clients may have or express THE CONTENT OF THIS MEMORANDUM IS an interest in the property described in this DISCLAIMER SOLELY AT YOUR OWN RISK. Memorandum (the “Property”), and may be the successful bidder for the Property. Your This Memorandum contains select information The Owner expressly reserves the right, at its receipt of this Memorandum constitutes your pertaining to the Property and the Owner, and sole discretion, to reject any or all expressions of acknowledgement of that possibility and your does not purport to be all-inclusive or contain interest or offers to purchase the Property, and/ agreement that neither CBRE, Inc. nor any all or part of the information which prospective or to terminate discussions at any time with or Affiliate has an obligation to disclose to you investors may require to evaluate a purchase of without notice to you. All offers, counteroffers, such Affiliates’ interest or involvement in the sale the Property. The information contained in this and negotiations shall be non-binding and or purchase of the Property. In all instances, Memorandum has been obtained from sources neither CBRE, Inc. nor the Owner shall have however, CBRE, Inc. and its Affiliates will act believed to be reliable, but has not been verified any legal commitment or obligation except as in the best interest of their respective client(s), for accuracy, completeness, or fitness for any set forth in a fully executed, definitive purchase at arms’ length, not in concert, or in a manner particular purpose. All information is presented and sale agreement delivered by the Owner. detrimental to any third party. CBRE, Inc. and its “as is” without representation or warranty of Affiliates will conduct their respective businesses any kind. Such information includes estimates in a manner consistent with the law and all based on forward-looking assumptions relating © 2019 CBRE, Inc. All Rights Reserved. fiduciary duties owed to their respective client(s). to the general economy, market conditions, competition and other factors which are subject CONFIDENTIALITY AGREEMENT to uncertainty and may not represent the current or future performance of the Property. All Your receipt of this Memorandum constitutes references to acreages, square footages, and your acknowledgement that (i) it is a confidential other measurements are approximations. This Memorandum solely for your limited use and Memorandum describes certain documents, TABLE OF CONTENTS ASCENSION HEIGHTS 04 Executive Summary CONTACT INFORMATION 10 Property Overview Bruce M. Paris Vice President Lic. 00644232 T 650 577 2933 [email protected] Investment Properties | NLSG 14 Area Overview CBRE | Capital Markets 1450 Chapin Avenue, 2nd Floor Burlingame, CA 94010 32 Comparables EXECUTIVE SUMMARY ASCENSION HEIGHTS І 6 CONFIDENTIAL MEMORANDUM This confidential Offering Memorandum (“Memorandum”) Prospective purchasers are encouraged to seek advice from their own attorneys, accountants, is being given to you for the sole purpose of evaluating engineering, environmental, and other experts regarding this offering. the possible acquisition of Ascension Heights, San Mateo, California, (the “Property”) and is not to be used Owner expressly reserves the right, at its sole discretion, to reject any offer to purchase for any other purpose or made available to any other the Property or to terminate any negotiations with any party at any time with or without party without the prior written consent of Owner, or CB written notice. Owner shall have no legal commitment or obligation to any prospective Richard Ellis, Inc. purchaser unless and until a written sale agreement has been fully executed, delivered and approved by Owner and any conditions to Owner’s obligations hereunder have been This Memorandum was prepared by Broker based on satisfied or waived. information supplied by Owner. It contains selected information about the Property and the real estate market Owner has retained Broker as its exclusive broker and will be responsible for any but does not contain all the information necessary to commission due to Broker in connection with a sale of the Property pursuant to separate evaluate the acquisition of the Property. The financial agreement. Broker is not authorized to make any representation or agreement on projections contained herein are for general reference only. behalf of Owner. They are based on assumptions relating to the general economy and local competition, among other factors. This Memorandum is the property of Owner and Broker and may be used only by parties Accordingly, actual results may vary materially from such approved by Owner or Broker. No portion of this Memorandum may be copied or otherwise projections. Various documents have been summarized reproduced or disclosed to anyone except as approved by Owner or Broker. herein to facilitate your review; these summaries are not intended to be a comprehensive statement of the terms or legal analysis of such documents. While the information contained in this Memorandum is believed to be reliable, neither Broker nor Owner guarantees its accuracy or completeness. Because of the foregoing and since the Property will be sold on an “As Is, Where Is” basis, a prospective purchaser must make its own independent investigations, projections, and conclusions regarding the acquisition of the Property without reliance on this Memorandum. 7 І EXECUTIVE Summary SAN MATEO COUNTY COMMUNITY COLLEGE DISTRICT ASCENSION HEIGHTS PARROTT DR ASCENSION ROAD BEL AIRE STREET VALLEY VIEW CT POLHEMUS RD ASCENSION HEIGHTS І 8 OFFERING SUMMARY Ascension Road & Bel Aire Address Street, San Mateo, California Project Area 13.25 Acres Occupancy Vacant & Undeveloped Offering Price Withheld Full Approved Tentative Map & Entitlements Conditions of Approval INVESTMENT HIGHLIGHTS Assessor’s Parcel No. # 041-111-130, 160, 270, 280, 320 & 360 Zoning R-1/S-8/PUD General Plan Medium/Low Density Residential 9 І EXECUTIVE Summary PROPERTY OVERVIEW ASCENSION HEIGHTS І 12 PROPERTY OVERVIEW SUMMARY Address Ascension Heights, San Mateo, California County San Mateo Parcel numbers 041-111-130; 041-111-160; 041-111-270; 041-111-280; 041-111-320; 041-111-360; Total land area 13.25 Acres Zoning R-1/S-8/PUD Confidentiality Agreement and Due Diligence Access A website containing documents and additional information about the property has been set up. Please contact us if you would like to receive a link to the Confidentiality Agreement and access to the due diligence site. 13 І Property Overview SITE DESCRIPTION Ascension Heights is an approved Tentative Map Subdivision representing 19 single family detached home lots to be developed upon a 13.25-acre greenfield hilltop parcel situated within the “San Mateo Highlands”, an unincorporated area of San Mateo County. Most recently and pursuant to the “Conditions of Approval” for the Ascension Heights Subdivision tentative map, the project applicant submitted a landscape plan for review and approval by the San Mateo County Planning Commission. At their December 12, 2018 meeting. The final landscape plan was subsequently approved February 27, 2019 thereby precipitating an un appealable Tentative Subdivision which is now vertical ready and poised for success. AREA OVERVIEW ASCENSION HEIGHTS І 16 SAN FRANCISCO BAY AREA The greater San Francisco Bay Area region has long been recognized as one of the world’s pre-eminent financial and commercial regions, and now as the ASCENSION HEIGHTS center of the global technology revolution. The region’s intrinsic qualities include a strong multi- faceted economy, strategic access to the Pacific Rim, a significant presence in financial markets, and a robust tourist trade. Its varying geography, cultures, and climates present exceptional scenic beauty and a broad array of
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