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CBRE REAL ESTATE MARKETING AND BROKERAGE SERVICES PROPOSAL <br />BACKGROUND - Services & Capa ilities - Case u • ie <br />Challenge <br />In December 2011 CBRE Land Services Group was contacted by a receiver <br />working on behalf of three large financial institutions that were in the process <br />of foreclosing on Rottlund Homes, which had 10 developments in different <br />stages of development. Within weeks of being contacted, the team had toured, <br />valued and presented a detailed marketing package to the receiver. Part of <br />the challenge was to bring the seller up to date on current market conditions. <br />Solutions <br />In reviewing and understanding each development during the pitch process, CBRE, when selected as <br />representative for the portfolio, was able to bring the assets to market quickly in March 2012. The ten <br />developments were marketed individually and as a portfolio to investors, builders and developers. <br />Results <br />CBRE was able to sell nine of the ten developments as instructed by year end 2012, with the remaining <br />asset closing in first quarter of 2013. The final sales prices exceeded the pricing set by the receiver. <br />Community Name <br />City <br />Size <br />Wildflower Meadows <br />Otsego <br />2 acres, MF <br />The Reserve <br />Plymouth <br />5.49 acres <br />Victor Gardens <br />Hugo <br />7 acres <br />The Lakes <br />Blaine <br />39 developed townhome lots <br />Arbor Crest <br />Inver Grove Heights <br />5.79 acres <br />Ridgewood <br />Savage <br />12 developed townhome lots <br />Inspiration <br />Bayport <br />17 SF lots <br />High Grove <br />Maple Grove <br />29 SF lots, 23.43 acres of high density <br />Harmony <br />Rosemount <br />19 SF lots; 59 developed MF lots; 108 undeveloped MF lots <br />Club West <br />Blaine <br />28 undeveloped townhome lots <br />Challenge <br />The CBRE Land Services Group was engaged by one of the world's largest <br />financial institutions in July 2010 to market and sell a full city block in the <br />Minneapolis CBD. The property had some stigma as a failed high rise condo <br />development but in creating a new story about the site CBRE was able to <br />create demand for the property. One part of this was identifying the market <br />conditions improving for market rate apartments in the Twin Cities. CBRE was <br />able to attract a lot of attention for redevelopment in a time period where new <br />construction was out of the question. <br />Solutions <br />The CBRE Land Services Team created a wide reaching marketing approach to apartment developers, <br />retail developers, office users, municipal users, brokers, and investors. In exposing the property from Day <br />1, CBRE attracted the attention of multiple developers and users who conducted over 25 property tours <br />that attracted 10 Letters of Intent. <br />Results <br />In marketing the property and working with the seller to determine the most capable buyer CBRE helped <br />to identify Ryan Companies and their partners as the most likely buyer to perform within the identified time <br />lines. Ryan Companies successfully closed on the property in February 2012 and will redevelop the site <br />into a 38,000 SF Whole Foods and 286 luxury apartments. <br />Rottlund Portfolio <br />Quick Facts: <br />-10 foreclosed developments <br />located in different cities <br />- 9 developments sold by year end <br />- Sales prices exceeded those set <br />by the receiver <br />222 Hennepin <br />Quick Facts: <br />- Full city block in Minneapolis CBD <br />- Strong interest from developers and <br />users <br />- Future home of Whole Foods and <br />286 luxury apartments <br />10 I CBRE <br />