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Date	10/16/2014
Greenwich Coverage
E-teaser Status
CA Status
IOM Status
Term Sheet Status
Categories	Term Sheets Received Executed Confidentiality Agreement Received Detailed Discussions Initial Discussions Groups that have Passed Uncategorized
Investment Criteria
Below for your use is a brief investment criteria: - Development land with ready entitlements - For-sale or for-rent residential projects in suburban, near-urban, and urban locations - Good school district, easy access to shopping and transportation - Targeted Markets: Boston, New York Metro, DC metro, SF Bay Area, LA Metro and Orange County - Land price ranges from $15-$50M+ - Development size from 50-200+ units - Free and clear purchase or JV structure with reputable local operating partners - In order to consider JV opportunities, would look for partner to co-invest 50% - Will consider land with last-mile entitlement risk if it is quantifiable - Will consider broken-partnership deals
Status for Deal Tracking Report (Most Recent Comment - Custom Comment )
10-30-14 - Passed - In order to consider JV opportunities, threshold would be for a 50x50 venture. They do not see themselves as a fund, but more of a developer with money, and as such they are willing to take some additional risks. They target urban locations, but would also consider the nearby suburbs. Specifically mentioned he would like to do something in Tysons, but not a future metro stop as he needs to be able to quantify it. See investment criteria above for additional information.

Insert Comment

DEAL TRACKING COMMENTS
Date	Comment
10/21/2014	Called and spoke with Bill Pisetsky, he is having dinner with John Ho tonight and will discuss the deal at that time. I sent him the package and am waiting to hear back. -- duke
10/22/2014	Received an email back from Paul Lee who handles their acquisitions with CCs to Bill and John Ho. His feedback thus far is: We are actively seeking for-sale/for-rent residential development opportunities in Boston, New York, DC, San Francisco, Los Angeles, and Orange County. We will selectively consider JV opportunities where we will be an active co-GP, with our local partner investing more than the traditional 10-20% equity. Arranging a follow-up call on 2501. -- duke
10/24/2014	Left Paul Lee a voicemail. Attempting to set up a follow-up call for next week. -- duke
10/30/2014	Passed - In order to consider JV opportunities, threshold would be for a 50x50 venture. They do not see themselves as a fund, but more of a developer with money, and as such they are willing to take some additional risks. They target urban locations, but would also consider the nearby suburbs. Specifically mentioned he would like to do something in Tysons, but not a future metro stop as he needs to be able to quantify it. See investment criteria above for additional information. -- duke

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