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R REAL ESTATE INVESTMENT CRITERIA ecognized as a pioneer of the urban investment concept among institutional real estate managers, MacFarlane Partners is one of the leading real estate investment management firms in the United States and a preferred capital provider for properties that promote smart growth, urban revitalization and sustainability. Well-versed in the intricacies of urban property markets, we specialize in large-scale properties that often involve multiple land uses and public/private capital structures. Our focus on urban areas enables us to execute complex transactions and to assess market potential where others may see none. We also are accustomed to working with our joint venture partners and local agencies to overcome the regulatory, environmental and capital issues that urban properties can encounter. Since launching our urban real estate investment management program in 1996, we have invested in more than eight million square feet of commercial space and 14,000 multifamily housing units in urban and high-density suburban submarkets of select Global Pathway Cities nationwide. Our key investment criteria include: Location: Preference for New York City; Washington, D.C.; Los Angeles; the San Francisco Bay Area; Boston; Chicago and Seattle. Sites must be located in urban or high-density suburban areas. Will not consider “greenfield” sites. Property Type: All property types, with a preference for office, multifamily residential (both rental and for-sale), retail and mixed-use properties. Property Size: $50 million minimum total project cost/value. Investment Type: Equity, mezzanine debt. Existing Properties: Underperforming properties that have market-related occupancy problems or expansion potential, and/or require renovating, upgrading or recapitalization. New Development: May or may not be fully entitled; Commercial projects may or may not be substantially pre-leased. Note Purchase: Purchase of performing or non-performing loans and other debt instruments that are secured by real estate (or partnership interests in real estate). Greg VilkinManaging Principal and President 201 Spear Street, 14th Floor San Francisco, CA 94105 Tel: 415.356.2500 Fax: 415.356.2599 gvilkin@macfarlanepartners.com CONTACTS:John GreenDirector, Investments 7201 Wisconsin Avenue, Suite 640 Bethesda, MD 20814 Tel: 301.718.2882 Fax: 301.718.2886 jgreen@macfarlanepartners.com Matthew AdlerDirector, Investments 99 Hudson Street, 5th Floor New York, NY 10013 Tel: 917.843.5770 madler@macfarlanepartners.com Dirk HallemeierManaging Director, Investments 201 Spear Street, 14th Floor San Francisco, CA 94105 Tel: 415.356.2546 Fax: 415.356.2599 dhallemeier@macfarlanepartners.com Susan SmarttManaging Director, Development 201 Spear Street, 14th Floor San Francisco, CA 94105 Tel: 415.356.2572 Fax: 415.356.2599 ssmartt@macfarlanepartners.com EAST COAST MARKETS WEST COAST MARKETS WEST COAST DEVELOPMENT SITES