±1.15 Acre Mixed-Use Development Site Culver City, California 9801 Washington Boulevard | Chase Bank to Occupy Portion of Retail Footprint in New Development

CAPITAL MARKETS N PACIFIC OCEAN MALIBU PACIFIC PALISADES SANTA MONICA VENICE MARINA DEL REY 405

SONY STUDIOS

VENICE BOULEVARD

WASHINGTON BOULEVARD

LBA REALTY NMS PROPERTIES REDEVELOPMENT HARLOWE

CULVER BOULEVARD HUGHES AVENUE

SITE

BROTMANN MEDICAL CENTER

KIRK DOUGLAS THEATER DELMAS TERRACE

CULVER CITY CITY HALL

DLJ MIXED-USE REDEVELOPMENT

FOR SALE OFFERSOFFERS DUE DUE FRIDAY, FRIDAY, FEBRUARY FEBRUARY 12, 12, 2016 2015 BY BY 5PM 5PM ±1.15 ACRE MIXED-USE DEVELOPMENT SITE CULVER CITY, CALIFORNIA 9801 WASHINGTON BOULEVARD | CHASE BANK TO OCCUPY PORTION OF RETAIL FOOTPRINT IN NEW DEVELOPMENT

TIMOTHY BOWER WILL ADAMS LAURIE LUSTIG-BOWER KADIE PRESLEY WILSON GABRIELLE LARDIERE Senior Vice President Senior Vice President Executive Vice President Senior Sales Director Client Services Specialist Lic. 00864693 Lic. 011319411 Lic. 00979360 Lic. 01476551 Lic. 01911073 +1 310 550 2521 +1 213 613 3500 +1 310 550 2556 +1 310 550 2575 +1 310 550 2605 [email protected] [email protected] [email protected] [email protected] [email protected] TABLE OF CONTENTS

EXECUTIVE SUMMARY 3

PROPERTY OVERVIEW 10

AREA OVERVIEW 14

MARKET COMPARABLES 22

SITE

| 2 EXECUTIVE SUMMARY

9801 WASHINGTON BOULEVARD CULVER CITY, CALIFORNIA

| 3 AERIAL

9801 WASHINGTON BOULEVARD

CULVER CITY, CA

| OFFERING MEMORANDUM 9801 Washington Blvd, Culver City | 4 AERIAL N

BEL AIR BEVERLY HILLS WEST HOLLYWOOD HOLLYWOOD

WESTWOOD CENTURY CITY

SPROUTS (FUTURE) ACCESS CULVER CITY

THE PLATFORM

CULVER CITY TRADER JOE’S

SITE CULVER STUDIOS ACRLIGHT CINEMAS

STARBUCKS

KIRK DOUGLAS THEATRE VENICE BOULEVARD

SONY STUDIOS WASHINGTON BOULEVARD CULVER BOULEVARD

| OFFERING MEMORANDUM 9801 Washington Blvd, Culver City | 5 THE OPPORUNITY

The site is owned and occupied by JPMorgan Chase Bank, and is CBRE, Inc., as exclusive advisor to JPMorgan Chase, is currently improved with a ±27,000 SF office building and surface parking lot. JPMorgan Chase desires to buy and occupy an ap- pleased to present a unique opportunity to acquire a ±1.15 proximately 6,000 square foot retail condominium on the ground acre mixed-use development site in the heart of Down- floor in the buyer’s new development.Paramount is the contin- town Culver City, across the street from the Kirk Douglas uous operation of the Chase Bank branch, either on site or off- Theater and one block from Sony Pictures Studio. site in a temporary location while the project is being devel- oped.

9801 Washington Boulevard stretches block to block from Hughes Avenue to Delmas Terrace, and boasts over 260 feet of frontage along Washington Boulevard. Zoned Commercial Downtown and Commercial General, the site lends itself to a mixed-use development.

Situated in Downtown Culver City along a prime thoroughfare, 9801 Washington Boulevard benefits from an exceptional location with close proximity to nearly 500,000 SF of retail, restaurant and office space. The site is located diagonally from the Sony Pictures Studios, a 45-acre campus that is home to approximately 3,200 employees. It is less than one mile to the Culver City Expo Light Rail Station, which connects Culver City to other Los Angeles areas including Santa Monica, Downtown LA, Pasadena and Ventura County.

OFFERS DUE FRIDAY, FEBRUARY 12, 2016 BY 5PM

| OFFERING MEMORANDUM 9801 Washington Blvd, Culver City | 6 PROPERTY HIGHLIGHTS

9801 WASHINGTON BOULEVARD

CULVER CITY, CA

Location – Downtown Culver City

Downtown Culver City is a charming collection of outdoor cafes, unique shops, art galleries and vibrant nightlife opening onto tree-lined boulevards. Striking landmark buildings are home to an array of entrepreneurial businesses and creative enterprises, along with a wide selection of retail and restaurant services for local residents to enjoy. Book-ended by entertainment pow- erhouses Sony Pictures Studios and The Culver Studios, 9801 Washington Boulevard is truly located at the focal point of the market. Downtown Culver City offers the perfect combination of small-town charm, with all the benefits of cosmopolitan big-city living.

| OFFERING MEMORANDUM 9801 Washington Blvd, Culver City | 7 MARKET HIGHLIGHTS

Superior Walkability

Culver City has made walkability a key objective in its economic development goals. The charming tree-lined boulevards are filled with cafes, restaurants and inviting retail storefronts. Within a 10 minute walk from 9801 Washington Boulevard a future resident can visit a Trader Joe’s, ArcLight Cinemas, or the Tuesday afternoon Farm- er’s Market. With 260 feet of frontage along a main thoroughfare, 9801 Washington Boulevard offers developers a perfect opportunity to capitalize on this dynamic, social atmosphere.

Great Schools

The Culver City Unified School District consists of five Kindergarten-5th Grade elementary schools, one middle school and one high school, and serves approximately 6,500 pupils. The school district’s consistently high rankings in Southern California attract many young families to Culver City. Culver City’s El Marino Language School is a blue ribbon school in the US. The school’s Spanish and Japanese language im- mersion programs make it highly competitive.

Pre-School: Elementary Schools:

• Office of Child • El Marino Language • Howe Elementary Development School School

• El Rincon School • La Ballona School

• Farragut School

Middle School: High School:

• Culver City Middle School • Culver City High School

Adult School

• Culver City Adult School

| OFFERING MEMORANDUM 9801 Washington Blvd, Culver City | 8 MARKET HIGHLIGHTS

Dynamic Cosmopolitan Growth

Culver City is experiencing a transformation on an immense scale. Once a sleepy submarket within Greater Los Angeles, over the last ten years Culver City has vir- tually exploded with thousands of new square feet of chic restaurants, cafes, retail shops, office space and new housing. Due in large part to the excellent school system as well as the new Expo Line Station on Washington Boulevard between Rob- ertson and National Boulevards, Culver City is attracting new residents and visitors from all over Los Angeles.

Proximity to the Metro

The Culver City Metro Expo Line connects Culver City to Greater Los Angeles. With a station less than a mile from 9801 Washington Boulevard, residents can conveniently travel to Downtown Los Angeles, Santa Monica, Hollywood, Pasadena, Long Beach and beyond.

| OFFERING MEMORANDUM 9801 Washington Blvd, Culver City | 9 PROPERTY OVERVIEW

9801 WASHINGTON BOULEVARD CULVER CITY, CALIFORNIA

| 10 PROPERTY OVERVIEW N

DELMAS TERRACE

WASHINGTON BOULEVARD

In the heart of Downtown Culver City lies 9801 Washington Boulevard, a rare 1.15 acre mixed-use development site. The site is currently improved with a 27,000 square foot, 3-story office building. Owner-user Chase Bank presently occupies the ground floor and portions of the upper floor, along with a month to month non-profit office tenant. It is a noteworthy block to block site located on highly trafficked Washington Boulevard, just south of Brotmann Medical Center, immediately west of the intersection of Culver Boulevard, and surrounded by pedestrian driven shops and restaurants. The Culver City Metro station is conveniently located less than a mile to the east.

Chase Bank desires to maintain a branch in Downtown Culver City, and ideally would occupy an approximately 6,000 square foot retail condominium in the buyer’s new development on the site. Prospective buyers are encouraged to give this requirement serious consideration as they evaluate this unique opportunity.

| OFFERING MEMORANDUM 9801 Washington Blvd, Culver City | 11 PARCEL MAP

ADDRESS 9801 Washington Boulevard, Culver City, CA 90232 THE PROPERTY APNS 4207-003-011, 4207-003-012, 4207-003-017 ADDRESS 9801 Washington Boulevard EST. LOT AREA (SF) 50,172 Culver City, CA 90232

APN EST. LOST4207-003-011/4207-003-012/4207-003-017 AREA (AC) 1.15 EST. LOT AREA (SF) 50,172 EST. LOT AREA (AC)BUILDING1.15 SF ± 27,000 ZONING CD/CG ZONING CD/AG (Commercial Downtown/Commercial General)

TENANCY Owner/user + month-to-month

| OFFERING MEMORANDUM 9801 Washington Blvd, Culver City | 12 ZONING & ENTITLEMENT

Zoning:

The site is zoned Commercial Downtown and Commercial General, which allows for the development of mixed-use multi-family by-right. The zoning requires that there is retail along Washington Boulevard, fostering the walkable appeal of the area.

Height Limit:

CD (Commercial Downtown) : Greater of 3 stories or 44 feet

CG (Commercial General) : 56 feet

Density Limit:

1 unit per 1,245 feet, no more than 25% of units can be less than 700 square feet in size

Parking:

Retail Parking Requirements:

3:1,000 SF

Multi-family Parking Requirements:

Studios and 1-Bedroom Units: 1 space

2-3 Bedroom Units: 2 spaces

Schedule of Fees:

https://www.culvercity.org/Government/CommunityDevelopment/Planning/Fees.aspx

Culver City Planning Division Website:

https://www.culvercity.org/Government/CommunityDevelopment/Planning.aspx

| OFFERING MEMORANDUM 9801 Washington Blvd, Culver City | 13 AREA OVERVIEW

9801 WASHINGTON BOULEVARD CULVER CITY, CALIFORNIA

| 14 AREA OVERVIEW

LOS ANGELES

Los Angeles - long known as a segmented, sprawling city, is transform- Demographics: ing into a city that is more fluidly connected and more vibrant than ever. Culver City is exemplary of this evolution, as its efficient transportation and recent commercial developments have built momentum to Within 1 Mile of 9801 Washington Boulevard: turn this suburban town into an urban hub. • 53.6% of the Population has a Bachelor’s Degree or better (Master’s, Professional or Doctorate Degrees)

Within 3 Miles of 9801 Washington Boulevard:

• the Population was 302,835 people as of 2015

• by 2020 the Population is expected to increase by 3.5%

• the Average Household Income was $87,505 as of 2015 CULVER CITY • by 2020 the Average Household Income is expected to be $90,104 • 27.5% of Households had income of $100,000 or more Culver City is in high demand as it has become a prime destination to • the Average Home Value was $844,050 as of 2015 live, work, dine, shop and revel in the beauty of this historic city and its thriving art scene. Neighboring Beverly Hills, Century City and Marina • 29.8% of the Housing Units were valued at $1,000,000 or more as del Rey - Culver City has become a focal point for culture and nightlife, of 2015 hosting an array of events while providing the clean and efficient transportation to reach them. • as of 2015 there were 21,310 businesses with 207,833 Daytime Em- ployees Culver City boasts an incredibly desirable demographic base - affluent, young, active and highly educated. It is a crowd that enjoys the finer things and seeks balance - with its centrality and a growing amount of retail, housing and transportation options, many are choosing to live, work and play in Culver City.

| OFFERING MEMORANDUM 9801 Washington Blvd, Culver City | 15

NATIONAL BOULEVARD RETAIL MAP 29

CULVER 28 JUNCTION

22 13 24 21 PALMS BOULEVARD 27 20 PALMS 23 19 12 11 10 8 9 26 LUCERNE HIGUERA 18 7 5 25 2 1 CULVER CITY OVERLAND AVENUE 17 3 16 15 4 6 14 JEFFERSON BOULEVARD

DUQUESNE AVE

WASHINGTON BOULEVARD

1. City Tavern 8. Lyfe Kitchen 12. Rocco’s Taven Culver City 21. In-N-Out Burger 24. Aesop 25. Seasalt Fish Grill 29. Father’s Office Starbucks Rush Street LaRocco’s Pizzeria 22. Chase Blue Bottle Coffee Le Pain Quotidien Helm’s Bakery Wildcraft Chipotle Native Foods Ross Dress For Less Craftsman and Wolves ROC La Dijonaise Meet in Paris enjoEat classico Kay ‘n Dave’s Starbucks Curve Burger Lounge Let’s be Frank 2. Kirk Douglas Theatre 9. Akasha 13. Trader Joe’s CVS Pharmacy Juice Served Here 26. Arclight Cinemas Lukshon Kilter New School of Cooking 3. Wells Fargo Honey’s Kettle Fried Chicken 14. Gaby’s Mediterranean Copy Max 27. Miller Toyota On Holiday Carl Hansen & Son Tender Greens Culver City Sprouts (future) Miller Honda 4. The Conservatory for Coffee, Tea & Cocoa 15. The Coffee Bean & Tea Leaf Loqui Vitra 10. Ugo Pizza Rev 5. Thai Original BBQ Restaurant 16. Versailles Linda Farrow 28. Co-Opportunity Foods Vogani Architectural & Design Solutions © 2015 CBRE Limited. Data © TeleAtlas, Google, AerialExpress, DigitalGlobe, Landiscor, USGS, i-cubed. The information contained herein (the “Information”) is intended for informational purposes only and should not be relied upon by recipients hereof. Although the Information is believed to be correct, its accuracy,23. correctnessCitydog!or Clubcompleteness cannot be guaranteed and has not been verified by either CBRE Limited or any of its affiliates (CBRE Limited and its affiliates are collectively referred to herein as “CBRE”). CBRE neither guarantees, warrants nor assumes any responsibility or liability of any kind with respect to the accuracy, correctness,3 Wayscompleteness, or suitability of, or decisions based upon11. or inBankconnection of Americawith, the Information. The recipient of the Information should take such steps as the recipient may deem appropriate with respect to using the Information. The Information may change and anyParabellumproperty described herein may be withdrawn from the market atBankany time of withoutthe Westnotice or obligation of any kind on the part of CBRE.AppliancesThe Plumbing Design Information is protected by copyright and shall be fully enforced. 17. Glorias Café Public School 310 Sao Acai Arcana Layout ID:L05 MapId:3264626 Villa Tacos The Culver Hotel 18. Smart & Final Extra! Soulcycle HD Buttercup 6. US Post Office Natalee Thai Cuisine Tom Dixon La Bella Cosa 7. Southern California Hospital at Culver 19. Casa Oaxaca The Cannibal Rejuvination City Ven Leeuwen Room & Board 20. Carbon Velvet by Graham & Spencer Sandinavian Designs The Rug Warehouse

| OFFERING MEMORANDUM 9801 Washington Blvd, Culver City | 1618

MAJOROFFICE OFFICETENANT TENANT MAP MAP

10 21 NATIONAL BLVD

12 3 11 JEFFERSON BLVD 20 17 5 1. Beats By Dre 6 PALMS LUCERNE 22 1 2. Fullscreen HIGUERA 3. Omaze 23 2 8 18 9 RODEO RD 4. ISBX Corporation VENICE BLVD CULVER CITY 14 DUQUESNE AVE 5. SGN BALDWIN 6. M-Go HILLS 7. NFL Digial Media 19 8. Smashbox Studios BLAIR HILLS 9. NBC Television CARLSON PARK WASHINGTON BLVD OVERLAND AVE 10. SDI Media Group 11. Popsugar 4 10 12. Media Temple 13. Security Industry Specialist 14. Sony Pictures Entertainment 15. Oracle JEFFERSON BLVD 24 16. Symatec

LA CIENEGA BLVD SEPULVEDA BLVD 17. Anonymous Content STUDIO VILLAGE 18. SteelHouse 19. The Woo Agency 25 20. ONE/x

CULVER BLVD 21. The Pitch Agency 22. WongDoody 405 23. Brotman Medical Center 24. Goldrich & Kest Industries, LLC 25. Target

SLAUSON AVE 16 15 13 LADERA HEIGHTS

| OFFERING MEMORANDUM 9801 Washington Blvd, Culver City | 1917

© 2015 CBRE Limited. Data © TeleAtlas, Google, AerialExpress, DigitalGlobe, Landiscor, USGS, i-cubed. The information contained herein (the “Information”) is intended for informational purposes only and should not be relied upon by recipients hereof. Although the Information is believed to be correct, its accuracy, correctness or completeness cannot be guaranteed and has not been verified by either CBRE Limited or any of its affiliates (CBRE Limited and its affiliates are collectively referred to herein as “CBRE”). CBRE neither guarantees, warrants nor assumes any responsibility or liability of any kind with respect to the accuracy, correctness, completeness, or suitability of, or decisions based upon or in connection with, the Information. The recipient of the Information should take such steps as the recipient may deem appropriate with respect to using the Information. The Information may change and any property described herein may be withdrawn from the market at any time without notice or obligation of any kind on the part of CBRE. The Information is protected by copyright and shall be fully enforced. Layout ID:P07 MapId:3264805 CULVER CITY DEVELOPMENT PIPELINE N

DOWNTOWN LA

9 11 LA CIENEGA BLVD

5 3 10 JEFFERSON BLVD

1 WASHINGTON BLVD

NATIONAL BLVD CULVER BL 6 8 7 SITE

VENICE BLVD

| OFFERING MEMORANDUM 9801 Washington Blvd, Culver City | 18 CULVER CITY DEVELOPMENT PIPELINE

Criteria: Projects located in 90034, 90234 and 90232 as of 11/20/2015

Source: Axiometrics Development Pipeline, sorted by number of units.

Project Name Product Type Address City Zip Code Units Developer Pipeline Stage Completetion Date

1 Ivy Station Mixed Use Mixed-Use (Residental /Retail) Venice Blvd and National Blvd Culver City 90232 200 Lowe Enterprises Planning TBD

2 Harlow Culver City Mixed-Use 9901 Washington Blvd Culver City 90232 131 NMS Properties Lease-Up 12/2/2015

3 Access Culver City Mixed-Use 8770 Washington Blvd Culver City 90232 115 Greystar Lease-Up 1/1/2016

4 Dunn Apartments Residential 3838 Dunn Dr Culver City 90232 86 California Landmark Permitting TBD

5 8777 Washington Blvd Mixed-Use 8777 W Washington Blvd Culver City 90232 80 Vitruvian Culver City Permitting TBD

6 Parcel B Retail / Hospitality 9300 Culver Blvd Culver City 90232 TBD Hudson Pacific / Combined Prop. Planning TBD

7 Sony Redevelopment Office 10000 Washington Blvd Culver City 90232 TBD LBA Realty Planning TBD

8 Bank of the West Site Mixed-Use (Residental /Retail) 9735 Washington Blvd Culver City 90232 TBD DLJ Seeking Entitlements TBD

9 Cummulus Media Site Mixed-Use (Residental /Retail) 33215 La Cienega Blvd Los Angeles 90016 TBD Carmel Partners Seeking Entitlements TBD

10 (W)rapper Office 5790 W Jefferson Blvd Los Angeles 90016 150,761 Samitaur Constructs Fully Entitled TBD RSF

11 5860 W. Jefferson Office 5860 W Jefferson Los Angeles 90016 49,000 SF Rad Ventures Planning TBD

* Washington Mixed-Use Mixed-Use 10601 Washington Blvd Culver City 90232 135 Greystar Planning TBD

* Roy at Overland Mixed-Use 3644-3658 S Overland Ave Los Angeles 90234 92 Anejo Development Permitting TBD

* 9919 Jefferson Blvd Office 9919 Jefferson Blvd Culver City 90232 TBD Second Street Venturs/AEW Planning TBD

* Not visible on Development Pipeline Map (sites are located to the west of 9801 Washington Blvd, Culver City)

| OFFERING MEMORANDUM 9801 Washington Blvd, Culver City | 19 METRO EXPO LINE

The Metro Expo Line connects Los Angeles’ Westside by rail with Downtown Los Angeles, Hollywood, the South Bay, Long Beach, Pasadena and the San Fernando Valley. With 10 new stations serv- ing Culver City, Santa Monica, USC (University of Southern Califor- nia) and Downtown Los Angeles, the Metro Rail system will expand to 80 stations over 87 miles of rail destinations across LA County.

Phase II of the Expo-line extends the rail system west of the Culver City station to Santa Monica, ending at the Colorado and 4th Street Station. The expansion, which is to be completed in the first Quarter of 2016, will link Downtown Los Angeles with the Pacific Ocean. The Expo Line has approximately 27,360 daily riders (2015) with rider- ship expected to reach 640,000 by 2030.

| OFFERING MEMORANDUM 9801 Washington Blvd, Culver City | 20 METRO EXPO LINE

9801 WASHINGTON BOULEVARD

CULVER CITY, CA

9801 Washington Boulevard is located in the heart of Downtown Culver City. It’s location is ideally situated less than one mile to both the Metro Expo Light-rail’s Culver City (Washington Blvd. & National Blvd.) and Palms (National Blvd. & Palms Blvd.) Stations.

| OFFERING MEMORANDUM 9801 Washington Blvd, Culver City | 21 MARKET COMPARABLES

9801 WASHINGTON BOULEVARD CULVER CITY, CALIFORNIA

| 22 RESIDENTIAL RENT COMPARABLES

Rent Comparables Map

SITE 1 4 1 M Lofts 2 3 2 Westside Apartments

3 Victor on Venice

4 Geneva@Hughes

Layout ID:L01 MapId:3220962| OFFERING MEMORANDUM 9801 Washington Blvd, Culver City | 23 © 2015 CBRE Limited. Data © TeleAtlas, Google, AerialExpress, DigitalGlobe, Landiscor, USGS, i-cubed. The information contained herein (the “Information”) is intended for informational purposes only and should not be relied upon by recipients hereof. Although the Information is believed to be correct, its accuracy, correctness or completeness cannot be guaranteed and has not been verified by either CBRE Limited or any of its affiliates (CBRE Limited and its affiliates are collectively referred to herein as “CBRE”). CBRE neither guarantees, warrants nor assumes any responsibility or liability of any kind with respect to the accuracy, correctness, completeness, or suitability of, or decisions based upon or in connection with, the Information. The recipient of the Information should take such steps as the recipient may deem appropriate with respect to using the Information. The Information may change and any property described herein may be withdrawn from the market at any time without notice or obligation of any kind on the part of CBRE. The Information is protected by copyright and shall be fully enforced. RESIDENTIAL RENT COMPARABLES

SELECT RENT COMPARABLES

COMPARABLE 1 M LOFTS 0 + 1 3425 Motor Ave 7% Los Angeles, CA 90034 Year Built: 2014 Units: 115 PHOTO Jr 1 + 1 Occupancy: 94% 1 + 1 35% Phone: 310.280.3900 58% Owner: Frost Chaddock Developers Manager: Frost Chaddock - M Lofts

Type Number of Units Effective Rent Unit Square Feet Rent per SF 0 + 1 8 $1,950 - $2,200 380 $5.13 - $5.79 Jr 1 + 1 40 $2,000 - $2,195 370 - 400 $5.41 - $5.49 1 + 1 67 $2,250 - $2,750 580 - 620 $3.88 - $4.44

Amenities: W/D In-Unit (Select Units) Quartz Counters Fitness Center Outdoor Fireplace Laundry Facilities Polished Concrete Floors Resident Lounge WiFi Stainless Steel Appliances Patio/Balcony Dog Run Ground Floor Retail COMPARABLE 2 WESTSIDE APARTMENTS 3165 Sawtelle Blvd Los Angeles, CA 90066 Year Built: 2003 2 + 2 Units: 204 44% PHOTO Occupancy: 95% 1 + 1 Phone: 310.313.2100 56% Owner: Equity Residential Manager: Archstone Westside Apartments

Type Number of Units Effective Rent Unit Square Feet Rent per SF 1 + 1 115 $2,555 - $2,625 679 - 903 $2.91 - $3.76 2 + 2 89 $3,445 - $3,925 1,000 - 1,149 $3.42 - $3.45

Amenities: W/D In-Unit Walk-In Closets Fireplace (Select Units) BBQ Areas Hardwood Style FloorsFlrs (Some (Select Units) Units)Patio/Balcony Fitness Center Pool/Spas Stainless Steel Appliances Island Kitchen (Select Units) Business Center WiFi

| OFFERING MEMORANDUM 9801 Washington Blvd, Culver City | 24 RESIDENTIAL RENT COMPARABLES

SELECT RENT COMPARABLES

COMPARABLE 3 VICTOR ON VENICE Live/Work 0 + 1 10001 Venice Blvd 2% 5% Los Angeles, CA 90034 Year Built: 2006 2 + 2 Units: 115 31% PHOTO Occupancy: 96% 1 + 1 Phone: 310.815.1355 62% Owner: Equity Residential Manager: Equity Residential - Victor on Venice

Type Number of Units Effective Rent Unit Square Feet Rent per SF 0 + 1 6 $2,350$2,570 - $2,360 592 - 613 $4.19$3.85 -- $4.34 $3.97 1 + 1 71 $2,500 - $3,000 729 - 1,100 $2.73 - $3.43 2 + 2 36 $3,165 - $3,435 1,190 - 1,313 $2.62 - $2.66 Live/Work 2 $3,000$2,770 - - $3,110 1,079 - 1,180 $2.57$2.64 -- $2.64$2.78

Amenities: W/D In-Unit Patio/Balcony Theater Room Hardwood Floors Quartz Counters Pool/Spa Stainless Appliances Fitness Center COMPARABLE 4 GENEVA@HUGHES 3627 Hughes Ave Los Angeles, CA 90034 Year Built: 2015 1 + 1 30% Units: 27 PHOTO Occupancy: 95% 2 + 2 Phone: 424.298.8235 70% Owner: Michael Lowinger Manager: Moss Property Management

Type Number of Units Effective Rent Unit Square Feet Rent per SF 1 + 1 8 $2,900 750 $3.87 2 + 2 19 $3,800 - $3,900 1,100 $3.45 - $3.55

Amenities: W/D In-Unit Quartz Counters Bicycle Storage Hardwood-Style Floors Walk-In Closets Rooftop Deck Stainless Steel Appliances Patio/Balcony EV Charging Station

| OFFERING MEMORANDUM 9801 Washington Blvd, Culver City | 25 SELECT SOLD MULTIFAMILY PROPERTIES

Criteria: Properties located in Los Angeles County, 20 to 80 units, sold 01/01/14 to 12/02/15 over $520/SF

Source: CoStar, sorted by price per square foot

Property Address City Zip Units Sale Price CAP $/Unit $/SF SF Built Sale Date

444-446 N Oakhurst Dr Beverly Hills 90210 22 $10,100,000 1.96% $459,091 $804 12,567 1940 06/18/15

10700 Wilshire Blvd Los Angeles 90024 58 $63,536,000 3.30% $1,095,448 $744 85,355 2010 09/14/15

1217 Ocean Front Walk (Part of Multi-Property Sale) Venice 90291 32 $13,814,609 - $431,706 $715 19,312 1913 07/29/15

501 Avondale Ave Los Angeles 90049 22 $15,000,000 - $625,000 $652 23,008 1950 07/11/14

14 Westminster Ave Venice 90291 25 $6,080,000 2.80% $243,200 $650 9,350 1912 09/19/14

234 San Vicente Blvd (Part of Portfolio) Santa Monica 90402 20 $9,658,204 - $482,910 $643 15,030 1953 03/10/15

1238-1242 10th St Santa Monica 90401 20 $8,000,000 - $400,000 $632 12,666 1956 06/09/15

8601 Wilshire Blvd Beverly Hills 90211 37 $29,575,000 3.06% $799,324 $626 47,272 1971 03/02/15

948-950 Arcadia Ave Arcadia 91007 28 $14,100,000 - $503,571 $617 22,866 1959 03/31/15

16100 W Sunset Blvd Pacific Palisades 90272 20 $9,400,000 3.54% $470,000 $580 16,200 1995 01/22/14

728-748 N Sweetzer Ave West Hollywood 90069 26 $13,000,000 - $500,000 $576 22,586 1946 04/23/15

937-943 2nd St Santa Monica 90403 20 $8,350,000 - $417,500 $574 14,544 1955 04/17/15

119 S Robles Ave Pasadena 91101 50 $26,250,000 - $525,000 $573 45,813 2015 08/21/15

614-618 San Vicente Blvd (Part of Portfolio) Santa Monica 90402 20 $9,658,204 - $482,910 $571 16,916 1948 03/10/15

615-617 Ocean Ave Santa Monica 90402 25 $15,560,000 2.54% $622,400 $549 28,352 1953 01/29/15

1115-1129 W 30th St Los Angeles 90007 30 $8,900,000 6.08% $296,667 $529 16,830 1957 03/02/15

10560 Santa Monica Blvd Los Angeles 90024 25 $12,600,000 3.50% $504,000 $523 24,105 2000 09/18/15

© 2015 CB Richard Ellis, Inc. The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

| OFFERING MEMORANDUM 9801 Washington Blvd, Culver City | 26 SELECT MULTIFAMILY LISTINGS ON THE MARKET

Criteria: Properties located in Los Angeles County, 20 to 80 units, on the market as of 12/02/15 over $520/SF Source: CoStar, sorted by price per square foot

Property Address City Zip Units Asking Price CAP $/Unit $/SF SF Built Status

739 S Ogden Dr Los Angeles 90036 45 $31,500,000 - $700,000 $687 45,844 2015 Active

2301 Roscomare Rd Los Angeles 90077 30 $18,888,000 - $629,600 $683 27,658 1958 Active

316 San Vicente Blvd Santa Monica 90402 22 $13,500,000 - $613,636 $659 20,490 1955 Under Contract

2623 Ellendale Pl Los Angeles 90007 20 $10,350,000 3.90% $517,500 $605 17,099 1931 Active

101 Dudley Ave Venice 90291 30 $10,500,000 4.00% $350,000 $559 18,792 1912 Active

| OFFERING MEMORANDUM 9801 Washington Blvd, Culver City | 27 SELECT SOLD CONDOMINIUM PROPERTIES

Criteria:Condominiums located in Culver City, Palms, and Mar Vista, built 2000 or later, sold 11/20/14 - 11/20/15 over $530/SF

Source: MLS, sorted by price per square foot

Property Address City Zip Br Ba SF Sale Price $/SF Built Sale Date MLS

4141 Duquesne Ave #7 Culver City 90232 3 3 1,748 $1,275,000 $743 2015 10/28/15 15-939495

4141 Duquesne Ave #4 Culver City 90232 3 3 1,748 $1,270,000 $743 2015 10/22/15 15-925759

4141 Duquesne Ave #6 Culver City 90232 2 3 1,638 $1,199,000 $732 2015 09/25/15 15-933213

4141 Duquesne Ave #1 Culver City 90232 3 3 1,935 $1,390,000 $723 2015 09/23/15 15-929631

4141 Duquesne Ave #3 Culver City 90232 3 3 1,901 $1,350,000 $710 2015 10/09/15 15-933191

4141 Duquesne Ave #2 Culver City 90232 3 3 1,917 $1,340,000 $704 2015 10/15/15 15-939529

11500 National Blvd #114 Los Angeles 90064 2 3 1,626 $919,000 $596 2014 12/19/14 SR14187294CN

11500 National Blvd #110 Los Angeles 90064 2 3 1,626 $919,000 $596 2014 12/23/14 SR14207548CN

11500 National Blvd #106 Los Angeles 90064 2 3 1,626 $929,000 $596 2014 03/25/15 SR14236347CN

9900 Culver Blvd #2D Culver City 90232 2 2 1,810 $985,000 $544 2009 05/11/15 15-895509

3636 Jasmine Ave #105 Los Angeles 90034 2 2 1,120 $582,000 $535 2008 08/28/15 15-922747

4049 Lincoln Ave Culver City 90232 2 3 1,710 $907,000 $532 2005 03/27/15 15-879789

3636 Jasmine Ave #103 Los Angeles 90034 2 2 1,090 $572,000 $531 2008 02/03/15 14-806397

| OFFERING MEMORANDUM 9801 Washington Blvd, Culver City | 28 SELECT SOLD LAND FOR DEVELOPMENT

Comparable Land Sales (30,000 sf+) Culver City and Vicinity, CA

# PROPERTY ADDRESS SALES PRICE PRICE/SF LAND SIZE ACRES SALE DATE COMMENTS

1 10601 Washington Blvd. $23,400,000 $602 38,812 0.89 Sep-14 Entitled mixed-use development site. Culver City, CA

2 8770 Washington Blvd. $30,830,000 $416 74,096 1.7 May-13 Entitled mixed-use site; under construction on Culver City, CA 115 apartments over 31,000 sf of retail. Opposite rail stop.

3 9723 Washington Blvd. $11,300,000 $395 28,627 0.7 Sep-15 Bank of the West site adjacent to subject Culver City, CA Property.

4 8777 Washington Blvd. $16,000,000 $376 42,500 1.0 Dec-14 Unentitled land parcel adjacent to the MTA Culver City, CA Expo Line Washington/National station. Mixed-use development site.

| OFFERING MEMORANDUM 9801 Washington Blvd, Culver City | 29 9801 WASHINGTON BOULEVARD | AFFILIATED BUSINESS DISCLOSURE AND CONFIDENTIALITY AGREEMENT

CBRE, Inc. operates within a global family of companies with (the “Owner”), to be all-inclusive or to contain all or part of the Property, and/or to terminate discussions with any entity many subsidiaries and/or related entities (each an “Affiliate”) the information which prospective investors may require to at any time with or without notice which may arise as a result engaging in a broad range of commercial real estate businesses evaluate a purchase of real property. All financial projections of review of this Memorandum. The Owner shall have no including, but not limited to, brokerage services, property and and information are provided for general reference purposes legal commitment or obligation to any entity reviewing this facilities management, valuation, investment fund management only and are based on assumptions relating to the general Memorandum or making an offer to purchase the Property and development. At times different Affiliates may represent economy, market conditions, competition and other factors unless and until written agreement(s) for the purchase of the various clients with competing interests in the same beyond the control of the Owner and CBRE, Inc. Therefore, all Property have been fully executed, delivered and approved transaction. For example, this Memorandum may be received projections, assumptions and other information provided and by the Owner and any conditions to the Owner’s obligations by our Affiliates, including CBRE Investors, Inc. or Trammell made herein are subject to material variation. All references therein have been satisfied or waived. Crow Company. Those, or other, Affiliates may express an to acreages, square footages, and other measurements are interest in the property described in this Memorandum (the approximations. Additional information and an opportunity By receipt of this Memorandum, you agree that this “Property”) may submit an offer to purchase the Property and to inspect the Property will be made available to interested Memorandum and its contents are of a confidential nature, that may be the successful bidder for the Property. You hereby and qualified prospective purchasers. In this Memorandum, you will hold and treat it in the strictest confidence and that acknowledge that possibility and agree that neither CBRE, certain documents, including leases and other materials, are you will not disclose this Memorandum or any of its contents to Inc. nor any involved Affiliate will have any obligation to described in summary form. These summaries do not purport any other entity without the prior written authorization of the disclose to you the involvement of any Affiliate in the sale or to be complete nor necessarily accurate descriptions of the Owner or CBRE, Inc. You also agree that you will not use this purchase of the Property. In all instances, however, CBRE, Inc. full agreements referenced. Interested parties are expected to Memorandum or any of its contents in any manner detrimental will act in the best interest of the client(s) it represents in the review all such summaries and other documents of whatever to the interest of the Owner or CBRE, Inc. transaction described in this Memorandum and will not act in nature independently and not rely on the contents of this If after reviewing this Memorandum, you have no further interest concert with or otherwise conduct its business in a way that Memorandum in any manner. in purchasing the Property, kindly return this Memorandum to benefits any Affiliate to the detriment of any other offeror or CBRE, Inc. prospective offeror, but rather will conduct its business in a Neither the Owner or CBRE, Inc, nor any of their respective manner consistent with the law and any fiduciary duties owed directors, officers, Affiliates or representatives make any to the client(s) it represents in the transaction described in this representation or warranty, expressed or implied, as to the Memorandum. accuracy or completeness of this Memorandum or any of its contents, and no legal commitment or obligation shall arise This is a confidential Memorandum intended solely for your by reason of your receipt of this Memorandum or use of its limited use and benefit in determining whether you desire to contents; and you are to rely solely on your investigations and express further interest in the acquisition of the Property. inspections of the Property in evaluating a possible purchase of the real property. This Memorandum contains selected information pertaining to the Property and does not purport to be a representation of The Owner expressly reserved the right, at its sole discretion, the state of affairs of the Property or the owner of the Property to reject any or all expressions of interest or offers to purchase

© 2015 CBRE, Inc. The information contained in this document has been obtained from sources believed reliable. While CBRE, Inc. does not doubt its accuracy, CBRE, Inc. has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners. Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited. | 30 | OFFERING MEMORANDUM 9801 Washington Blvd, Culver City | 30 CAPITAL MARKETS

OFFERS DUE FRIDAY, FEBRUARY 12, 2016 BY 5PM

±1.15 ACRE MIXED-USE DEVELOPMENT SITE IN CULVER CITY

9801 WASHINGTON BOULEVARD | CHASE BANK TO OCCUPY PORTION OF RETAIL FOOTPRINT IN NEW DEVELOPMENT

TIMOTHY BOWER WILL ADAMS LAURIE LUSTIG-BOWER KADIE PRESLEY WILSON GABRIELLE LARDIERE Senior Vice President Senior Vice President Executive Vice President Senior Sales Director Client Services Specialist Lic. 00864693 Lic. 011319411 Lic. 00979360 Lic. 01476551 Lic. 01911073 +1 310 550 2521 +1 213 613 3333 +1 310 550 2556 +1 310 550 2575 +1 310 550 2605 [email protected] [email protected] [email protected] [email protected] [email protected]