Deal Tracking Report

Coverage

Company / Firm

Comments/Status

Term Sheets Received

Eakin Youngentob Associates (edit) (deal info)

3/30/16 - Initial offer of $20,520,000, $500,000 deposit goes non-refundable upon 90 day due diligence. Closing to take place upon the earlier of receiving unappealable zoning and site plan approval or 24 months

	Print/Vcard/Email	Contact	Address
1		Jack Lester	4800 Hampden Lane, Bethesda MD

Trammell Crow Company (edit) (deal info)

11 Apr, 2016 - JV development LOI reveived: Structure - TIAA 95% LP, TC 5% GP, 60%-70% LTC. The Contribution Agreement shall have an initial land valuation based on: development budget, density, rental income at 6.75% untrended, unlevered yield on costs and condo sales margin at 28% (sales/costs). Sports field sales revenue inures to TIAA-CREF. Feasibility Period: 60 days for TC to conduct due diligence research, cost becomes TC contribution. Deposits from TC: $2 million refundable during Feasibility Period. Entitlement & Financing Period: costs shared by TIAA and TC 50-50.

	Print/Vcard/Email	Contact	Address
1		David Neuman	1055 Thomas Jefferson Street, Nw Washington DC

Executed Confidentiality Agreement Received

Atlantic Realty Partners (edit) (deal info)

Executed CA - 2.18.16. OM sent 2.19.16. Virtual Deal Room access provided. Left voicemail 3.9.16

	Print/Vcard/Email	Contact	Address
1		Richard Aaronson (404) 591-2900	3438 Peachtree Road, #1425 Atlanta GA

Capitol Seniors Housing (edit) (deal info)

Executed CA - 2.22.16. OM sent 2.22.16. Virtual Deal Room access provided. Left voicemail 3.4.16.

	Print/Vcard/Email	Contact	Address
1		Fred Moon	1275 Pennsylvania Ave, NW - 2nd Fl Washington DC

Carr City Centers (edit) (deal info)

Executed CA. Provided access to OM and virtual deal room. Left voicemail to follow up.

	Print/Vcard/Email	Contact	Address
1		Matthew Troy

CH Acquisitions (edit) (deal info)

CA Executed 2/23/16. Virtual Deal Room access provided. Left VM 3.7.16. Left VM 3.9.16

	Print/Vcard/Email	Contact	Address
1		Rita Jones	2200 Biscayne Blvd Miami FL

Consolidated-Tomoka Land Company (edit) (deal info)

Executed CA. OM and VDR access granted. Left voicemail to follow up. Left voicemail on 3.14.16. Left voicemail 3.29.16

	Print/Vcard/Email	Contact	Address
1		Steven Greathouse (386) 274-2202	1530 Cornerstone Boulevard, Daytona Beach FL

Core Property Capital (edit) (deal info)

Executed CA 3.1.16. OM and VDR access granted. OM Sent. Left voicemail again 3.29.16

	Print/Vcard/Email	Contact	Address
1		Parke Lammerts	3060 Peachtree Road, Atlanta GA

Deutsche Asset & Wealth Management (edit) (deal info)

Executed CA 3.8.16 - Sent OM and granted access to Virtual Deal Room.

	Print/Vcard/Email	Contact	Address
1		Sandro Arbulu

DRI Development Services (edit) (deal info)

Sent amended CA 2.18.16. Client reviewed and approved. OM and Virtual Deal Room access provided. Left voicemail 3.9.16

	Print/Vcard/Email	Contact	Address
1		Chris Spitz (202) 833-3300	1808 Eye St NW Washington DC

DSF Group (edit) (deal info)

Executed CA - 2.18.16. OM sent 2.19.16. Virtual Deal Room access provided. OM sent 3.4.16. Left vm 3.14.16. Left voicemail 3.29.16

	Print/Vcard/Email	Contact	Address
1		Ryan Ball	950 Winter Street, Suite 4300 Waltham MA

L3C Partners, LLC (edit) (deal info)

CA executed 2/23/16. OM and Virtual Deal Room access provided. Left voicemail 3.11.16 Left voicemail 3.17.16 Left voicemail 3.29.16

	Print/Vcard/Email	Contact	Address
1		Moshe Watson 516-882-2333	222 Rockaway Turnpike Suite 4 cedarhurst NY

LCOR (edit) (deal info)

Executed CA - 2.18.16. OM sent 2.19.16. OM and Virtual Deal Room access provided. Left voicemail for Harmar Thompson - 3.14.16

	Print/Vcard/Email	Contact	Address
1		Hamour Thompson	2 Bethesda Metro Center, Bethesda MD

Monroe Investment Partners, LLC (edit) (deal info)

Executed CA - 2.18.16. OM sent 2.19.16. OM and Virtual Deal Room access provided. Left VM 3.14.16 Left voicemail 3.17.16 Left voicemail 3.29.16

	Print/Vcard/Email	Contact	Address
1		Donald (Don) Allen	6 E Monroe Street, Chicago IL

MR Acquisitions III LLC (edit) (deal info)

3/8/16 - CA executed 2/21/16.

	Print/Vcard/Email	Contact	Address
1		Josh Olsen	1700 K Street, NW, Washington DC

Rockwood Capital, LLC (edit) (deal info)

Sent amended CA. Sent to client for review. CA accepted. OM and VDR access granted. OM sent 3.4.16. Left voicemail for Richard Kramer 3.14.16. Have a venture with Mill Creek.

	Print/Vcard/Email	Contact	Address
1		Richard Kramer	145 E 45th Street, New York NY

The Besyata Group (edit) (deal info)

Executed CA - 2.18.16. OM sent 2.19.16. OM and Virtual Deal Room access provided. Left VM 3.14.16. Real Estate arm of the Beitel Family. Left voicemail 3.24.16. Left voicemail 3.29.16

	Print/Vcard/Email	Contact	Address
1		Ben Cohen (718) 977-5666	1449-37 street Brooklyn NY

The Buccini/ Pollin Group (edit) (deal info)

Executed CA - 2.18.16. OM sent 2.19.16. OM and Virtual Deal Room access provided. Left voicemail message for Boris Kaplan 3.14.16

	Print/Vcard/Email	Contact	Address
1		Boris Kaplan	322 A St Wilmington

The Penzance Companies (edit) (deal info)

Executed CA - 2.18.16. OM sent 2.19.16. OM and Virtual Deal Room access provided. Left voicemail 3.11.16; Left voicemail 3.24.16; Left voicemail 3.29.16

	Print/Vcard/Email	Contact	Address
1		Kyle Wood	2400 N Street NW #600 Washington DC

The Shelter Group (edit) (deal info)

CA executed 2/26/16. OM and Virtual Deal Room access provided. Left voicemail 3.11.16. Conversation on 3.24.16 - They really like the site and the location, but where they will struggle is that they would want to program the site for senior housing development, and typically target between 100-200 units per project. As such, they would likely only be interested in a portion of the site.

	Print/Vcard/Email	Contact	Address
1		Andrew Teeters	218 N. Charles Street Baltimore MD

Transwestern Investment Group (edit) (deal info)

CA executed 3.3.16. OM and VDR access granted. OM sent.

	Print/Vcard/Email	Contact	Address
1		Collin Comer	8117 Preston Rd Dallas TX

Washington Real Estate Investment Trust (edit) (deal info)

Executed CA. Provided access to OM and virtual deal room. Left voicemail to follow up.

	Print/Vcard/Email	Contact	Address
1		Edward Murn 202-774-3200

Woodfield Investments, LLC (edit) (deal info)

Executed CA - 2.18.16. OM sent 2.19.16. OM and Virtual Deal Room access provided. Left VM 3.14.16; Left voicemail 3.29.16

	Print/Vcard/Email	Contact	Address
1		Chad Hagler (704) 837-7513	2301 Columbia Pike Arlington VA
2		Margaret Ford

ZOM Properties Inc. (edit) (deal info)

	Print/Vcard/Email	Contact	Address
1		Nick Rahman	2001 Summit Park Drive Orlando FL

Detailed Discussions

AECOM Capital (edit) (deal info)

CA Executed 2/23/16. OM and Virtual Deal Room access provided. Conference call being scheduled for either Wednesday 9th or Thursday 10th. Good conference call with Sen and Lindsey Weissman regarding underwriting. They are reviewing extensively. Spoke with Tim Haskin. They are interested in a joint-venture with TIAA.

	Print/Vcard/Email	Contact	Address
1		HuiSen Chua	100 Park Avenue New York NY

BET Investments (edit) (deal info)

Executed CA - 2.19.16. OM sent 2.19.16. Virtual Deal Room access provided. Good conversation with Dan Greeley 3.4.16. Will follow up with questions week of 3.7.16.

	Print/Vcard/Email	Contact	Address
1		Daniel Greeley (215) 938-7300	200 Witmer Road Horsham PA

Bristol Group Inc. (edit) (deal info)

Executed CA - 2.18.16. OM sent 2.19.16. Virtual Deal Room access provided. OM sent 3.4.16. Left voicemail 3.9.16. Meeting arranged with Mathais for Friday March 18th.

	Print/Vcard/Email	Contact	Address
1		Andrew Williams	400 Montgomery Street San Francisco CA

Carmel Partners (edit) (deal info)

Executed CA - 2.18.16. OM sent 2.19.16. Virtual Deal Room access provided. OM sent 3.4.16. Site and market tour scheduled for 3.8.16

	Print/Vcard/Email	Contact	Address
1		Erin Beitz 212-355-0795	805 3rd Avenue, 8th Floor New York NY

Cushman & Wakefield (edit) (deal info)

Has stated that he represents NVR Homes. They have verbally communicated that they are interested at a value of $25,000,000. No formal LOI received to date.

	Print/Vcard/Email	Contact	Address
1		Paul Norman

Duball LLC (edit) (deal info)

4.13.16 - Duball is a leading developer of mixed-use, including for sale residential product in the DC region and are capitalized by institutional equity funds. We have met with them and spent time proving a lot of information on the current design and financial pro forma. At the current time they are coming out with a value of around $20,000,000. However, they are only proposing to build approximately 300,000 SF and potentially could leave enough of the site to enable a monetization of the Athletic Field by selling it to other developers.

	Print/Vcard/Email	Contact	Address
1		Mitchell Yentis (703)234-5632	11710 Plaza America Drive Reston VA

Foulger-Pratt Construction, Inc. (edit) (deal info)

4.13.16 - We have had detailed discussions with Senior Executives at Foulger Pratt about 1500 Westbranch. They know the Tysons market very well through their involvement with Tysons Central. They mentioned in our discussions that they would be extremely interested forming a venture with TIAA and potentially bringing a pipeline of development project to the venture. The projects mentioned included; 300-331 N Street, NE at Union Market and The Thornton in Alexandria. We are due to have a conference call with them again tomorrow when we expect to hear whether they will be submitting a formal term sheet.

	Print/Vcard/Email	Contact	Address
1		Joe Clauser (240) 499-9600
2		Michael Abrams	9600 Blackwell Rd., Rockville MD

Jair Lynch Development Partners (edit) (deal info)

Executed CA 3.8.16. Sent OM and granted access to Virtual Deal Room. Good conversation with Chris Woods, they are slightly nervous about the supply in Tysons Corner, but intend to underwrite the deal.

	Print/Vcard/Email	Contact	Address
1		Chris Woods (202) 462-1092	1508 U St NW DC

Kettler (edit) (deal info)

Kettler are in a joint venture with PS Business Parks on 45 acres surrounding 1500 Westbranch. They have expressed a strong interest in buying the Athletic Field credits. We believe they will come forward and make a formal offer in the coming days. Thus far they have been keeping close to the process to ensure they are not losing the opportunity.

	Print/Vcard/Email	Contact	Address
1		Luke Davis	1751 Pinnacle Drive McLean VA

Meridian Group (edit) (deal info)

Executed CA - 2.18.16. OM sent 2.19.16. Good initial conversation with David Cheek. Seemed very interested. Attempting to schedule a meeting or conference call Thursday 3.10.16

	Print/Vcard/Email	Contact	Address
1		David Cheek (301)718-0800	3 Bethesda Metro Center Bethesda MD

Monument Realty (edit) (deal info)

Spoke with Cliff Cummings, who requested pricing guidance. Had extensive conversation regarding residual land value versus sales comparables which are notoriously unreliable. Will review internally to see if there is an appetite to submit an offer.

	Print/Vcard/Email	Contact	Address
1		Cliff Cummings	1700 K Street NW, Washington DC

NVR, Inc. (edit) (deal info)

They have verbally communicated that they are interested at a value of $25,000,000. No formal LOI received to date.

	Print/Vcard/Email	Contact	Address
No result

PW/DF

PS Business Parks (edit) (deal info)

3/29/16 - Spoke with Coby Holley. They remain interested in the field credits, and are looking at the entire site with Kettler. He is flying back to DC today, and has a meeting with Kettler tomorrow. As well, their CEO is in town this week as well to review the comprehensive plan for their full 45 acres. As such, they will likely come in with an offer after their meeting with Kettler.

	Print/Vcard/Email	Contact	Address
1		Coby Holley (818) 244-8080	701 Western Ave Glendale CA

The Georgelas Group of Companies (edit) (deal info)

Executed CA - 2.18.16. OM sent 2.19.16. OM and Virtual Deal Room access provided. Left VM 3.7.16. Left VM 3.14.16. Good conversation with Irfan. They have a separate account client from overseas that is interested in pursuing opportunities in Tysons. Agreed to circle back up at the end of the week.

	Print/Vcard/Email	Contact	Address
1		Irfan Ali (703)821-1540	8405 Greensboro Drive McLean VA

Tishman Speyer (edit) (deal info)

4/4/16 - Good conversation with Jeff Chod. While the site is a bit too far away from metro for them to consider from a residential standpoint, they do own office assets in Tysons further from metro. Considering the maximum FAR on the site from an office standpoint would be a 1.0 FAR, he is going to study it to see if they would be able to achieve their density and maintain the athletic field on the site, as he thinks this could make them competitive versus a residential developer building stick-built product and no field.

	Print/Vcard/Email	Contact	Address
1		Jackie Nicynski 202 628 5800	1875 Eye Street NW Washington DC
2		Jeff Chod	1875 Eye Street, NW Washington DC

TOLL BROTHERS (edit) (deal info)

3/30/16 - Extensive conversation with Brian Oos, they are interested in a more structured transaction, but need more time to evaluate a proposal.

	Print/Vcard/Email	Contact	Address
1		Douglas Yearley	250 Gibraltor Rd PA

Tree-Lined Holdings (edit) (deal info)

Private Chinese Group we have worked with before in San Francisco. They are interested in buying this site for their investors and keeping the current design concept and team in place to develop this property. Expecting an LOI by the end of the week.

	Print/Vcard/Email	Contact	Address
No result

ZOM Living (edit) (deal info)

Like the site and the current design concept with Athletic Field. Would be interested in a JV concept. Currently underwriting and hope to be back to us with a formal LOI in the next day or so.

	Print/Vcard/Email	Contact	Address
1		Andrew Cretal (703) 677-9717	7900 Westpark Drive, McLean VA

Initial Discussions

CIM Group (edit) (deal info)

Viewed CA. Good conversation with Terra. Probably out of their locational requirements but will review within the group to see if there is interest.

	Print/Vcard/Email	Contact	Address
1		Terra Weirich	7200 Wisconsin Avenue Bethesda MD

Jefferson Apartment Group (edit) (deal info)

Executed CA - 2.19.16. OM sent 2.19.16. OM and Virtual Deal Room access provided. OM sent 3.4.16. Good conversation with Greg Van Wie. He agrees with the strategy that high rise is likely the highest and best use but they are not doing high rise in Tysons at this present moment. However, he will review and underwrite as low rise wood frame given that no formal planning application has been submitted yet.

	Print/Vcard/Email	Contact	Address
1		Greg Van Wie	1420 Spring Hill Road, McLean VA

Nellis Corporation (edit) (deal info)

CA reviewed and approved by client. OM and Virtual Deal Room access provided. 3/1/16: Discussed in detail the development concept and zoning. They are unlikely to be competitive on pricing as this would be a big project for them. They do mixed-use development but usually a little smaller in size.

	Print/Vcard/Email	Contact	Address
1		Lucas Druskin	6001 Montrose Road, Rockville MD

Groups that have Passed

Akridge Real Estate Services (edit) (deal info)

Executed CA - 2.19.16. OM sent 2.19.16. Virtual Deal Room access provided. OM sent. Left voicemail 3.7.16. Left voicemail 3.9.16. Passed - left voicemail to enquire the as to the reason they are a pass 3.14.16

	Print/Vcard/Email	Contact	Address
1		Marc Kramer	601 13th Street NW, Washington DC

Claremont Companies (edit) (deal info)

3/30/16 - Passed - Provided the following reason for passing: "We signed up for this and the deal that CB is marketing for Hersha, the old Residence Inn on Westwood Center Drive but ultimately decided it is not the right time to be buying in the Tysons market"

	Print/Vcard/Email	Contact	Address
1		Matt O\'Donnell	One Lakeshore Center Bridgewater MA

GMH Capital Partners (edit) (deal info)

CA executed 2/29/16. OM and Virtual Deal Room access provided. OM sent 3.4.16. Spoke with Gerard Rosenberger on 3.23.16, mentioned they are still reviewing the transaction, but are unlikely to put in an offer at this time.

	Print/Vcard/Email	Contact	Address
1		Gerard Rosenberger	10 Campus Blvd Newtown Square PA

Griffith Properties, LLC (edit) (deal info)

CA executed 2/26/16. OM and Virtual Deal Room access provided. OM sent 3.4.16. Passed - they are the owner of the adjacent property and want to make sure their business plan is successful before committing further resources to Tysons.

	Print/Vcard/Email	Contact	Address
1		Peter Doherty	260 Franklin Street Boston MA

Hines (edit) (deal info)

3/22/16 - Passed - They are being very selective on transactions outside of the CBD due to their perception on where we are in the cycle. To this point, the site is a too far away from Metro for them to take a run at.

	Print/Vcard/Email	Contact	Address
1		Jonathan Fuisz

Kensington Senior Living (edit) (deal info)

Executed CA - 2.18.16. OM sent 2.19.16. OM and Virtual Deal Room access provided. Passed 3.11.16 - Was looking at the site for senior housing, but they have another facility within a few miles that they need to work through first.

	Print/Vcard/Email	Contact	Address
1		Michael Rafeedie	11921 Freedom Drive Reston VA

Kisco Senior Living (edit) (deal info)

CA executed 2/25/16. Conference call 2/26/16. OM and Virtual Deal Room access provided. Good call. Interested in high end senior living development. Described their program as the "Four Seasons" of senior living. 3/29/16: Passed. They think pricing will be too rich for them as they are only getting to $20 million at best.

	Print/Vcard/Email	Contact	Address
1		Tony Nguyen	5790 Fleet Street, Carlsbad CA

Langley Realty Partners (edit) (deal info)

CA executed 2/23/16. OM and Virtual Deal Room access provided. Passed 3.14.16 - While he is familiar with the site, and likes the more suburban feel of that part of Tysons, his investors are nervous about the amount of product in the pipeline for Tysons.

	Print/Vcard/Email	Contact	Address
1		Steven McLeaf	8521 Leesburg Pike #700 Vienna VA

Priderock Capital Partners, LLC (edit) (deal info)

CA executed 2/25/16. OM and Virtual Deal Room access provided. 3-24-16 - Passed - Spoke with Christopher Todd and he thinks this would be too large of an equity check for their investors to invest in one single project at this time

	Print/Vcard/Email	Contact	Address
1		Christopher Todd	4031 University Dr. Fairfax VA

Rushmark Properties (edit) (deal info)

Executed CA - 2.18.16. OM sent 2.19.16. OM and Virtual Deal Room access provided. Left voicemail 3.14.16. Passed 3.29.16 - Unable to gain traction internally as it is too far from metro for them to consider a high-rise building at the site. He is reviewing it as a 4-5 story stick-built option, but indicated they were unlikely to put in an offer at this time.

	Print/Vcard/Email	Contact	Address
1		Neal Kumar	2900 Fairview Park Drive Falls Church VA

Shamin Hotels (edit) (deal info)

CA executed 3.7.16. OM and VDR access granted. OM Sent. Left VM 3.14.16; 3.29.16 - Neil is traveling through the 1st, indicated that they are unlikely to submit an offer at this time.

	Print/Vcard/Email	Contact	Address
1		Neil Amin 804-777-9000	2000 Ware Bottom Spring Road Chester VA

Stewart Investment Partners (edit) (deal info)

Passed - No real traction with Partner who has a more residential focus.

	Print/Vcard/Email	Contact	Address
1		John Stewart (301) 907-9881	7101 Wisconsin Ave. Bethesda MD

TF Cornerstone, Inc (edit) (deal info)

Viewed CA - 2.18.16. Sent client requested changes. Awaiting response. 3.4.16 Left VM. Requested TIAA suggested change. Awaiting revised CA. Executed CA and granted access to OM and virtual deal room. After receiving the OM they decided it wasn't a deal they wished to pursue.

	Print/Vcard/Email	Contact	Address
1		Jeremy Shell	387 Park AVe South New York NY

The Wolff Company (edit) (deal info)

CA executed 2/24/16. OM and Virtual Deal Room access provided. Left voicemail 3-23-16. 3.29.16 - Passed - They only acquire existing assets, and were merely gathering market data.

	Print/Vcard/Email	Contact	Address
1		Valerie McNaghten	717 W Sprague Spokane WA

Uncategorized

AEW Capital Management, L.P. (edit) (deal info)

Viewed CA. Left Voicemail 2/29/16. Left Voicemail 3.7.16

	Print/Vcard/Email	Contact	Address
1		Wistar Wood (617) 261-9329	World Trade Center Boston MA

FISHER BROTHERS (edit) (deal info)

Viewed CA - 2.18.16. Left voicemail to follow up. Left voicemail 3.14.16

	Print/Vcard/Email	Contact	Address
1		Sebastian Post	299 Park Avenue, New York NY

Jeras Corporation (edit) (deal info)

Viewed E Teaser. Left voicemail to follow up.

	Print/Vcard/Email	Contact	Address
1		Richard Bronstein

Rubenstein Partners (edit) (deal info)

Sent amended CA. Awaiting client review. Sent back comments received for them to amend CA.

	Print/Vcard/Email	Contact	Address
1		Stephen Evans 202-864-4140

Most Recent Comments - 1500 Westbranch Drive
Date	Company	Comment
04/04/2016	Tishman Speyer	Good conversation with Jeff Chod. While the site is a bit too far away from metro for them to consider from a residential standpoint, they do own office assets in Tysons further from metro. Considering the maximum FAR on the site from an office standpoint would be a 1.0 FAR, he is going to study it to see if they would be able to achieve their density and maintain the athletic field on the site, as he thinks this could make them competitive versus a residential developer building stick-built product and no field. -- duke
03/30/2016	Eakin Youngentob Associates	Initial offer of $20,520,000, $500,000 deposit goes non-refundable upon 90 day due diligence. Closing to take place upon the earlier of receiving unappealable zoning and site plan approval or 24 months -- duke
03/30/2016	TOLL BROTHERS	Extensive conversation with Brian Oos, they are interested in a more structured transaction, but need more time to evaluate a proposal. -- duke
03/30/2016	ZOM Living	Still reviewing the transaction, and are going to be reaching out to Michael Foster regarding his programming of the site for stick-built product. -- duke
03/30/2016	Claremont Companies	Passed - Provided the following reason for passing: \"We signed up for this and the deal that CB is marketing for Hersha, the old Residence Inn on Westwood Center Drive but ultimately decided it is not the right time to be buying in the Tysons market\" -- duke
03/29/2016	PS Business Parks	Spoke with Coby Holley. They remain interested in the field credits, and are looking at the entire site with Kettler. He is flying back to DC today, and has a meeting with Kettler tomorrow. As well, their CEO is in town this week as well to review the comprehensive plan for their full 45 acres. As such, they will likely come in with an offer after their meeting with Kettler. -- duke
03/22/2016	Hines	Passed - They are being very selective on transactions outside of the CBD due to their perception on where we are in the cycle. To this point, the site is a too far away from Metro for them to take a run at. -- duke
03/08/2016	MR Acquisitions III LLC	CA executed 2/21/16. -- xinzhu

Deal Tracking Report - 1500 Westbranch Drive (edit, Deal Management)