Existing Properties

General Strategy: To purchase properties that have the potential for enhanced investment returns in the medium term (3 to 7 years). Opportunities for value enhancement may include the potential to increase value through: leasing, management, financing, upgrading tenancies and tenant mix, and new or additional development.

Investment Size: Current or repositioned value of at least $30 million. Properties may be subject to existing debt.

Product Type: Retail or mixed use including residential (provided a component is office or retail). All retail types will be considered. Properties should be, or have the potential to be, institutional quality.

Geographic Areas: Western United States with an emphasis on the San Francisco Bay Area, Sacramento Area, and Greater Los Angeles Area including Inland Empire.

Return Expectations: Range is between 8% and 12% unleveraged depending on perceived risks and using realistic assumptions (e.g. current market rents or rents that correlate favorably with reproduction costs and supply and demand parameters). No minimum in respect to initial cash returns.

Evaluation: Generally able to give a preliminary indication of interest within one week of receiving information on the transaction. Minimal time required with respect to internal approvals.

Fees, Registration: Property offerings are registered upon receipt. Broker fees are paid when appropriate. Preference is given to properties with broker “control”. Statement of Policy Regarding Buy Side Representation

Contacts:

Turner Newton, President
Fergal McHugh, Senior Vice President

Jay Kerner, Regional Director

Developments:

Thomas Engberg, Executive Vice President

Scott Franklin, Senior Vice President

Capital and Counties USA, Inc.
100 The Embarcadero, Suite 300
San Francisco, CA 94105
Phone: 415.421.5100
Facsimile: 415.421.6021