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Partners

ABOUT SERRA REAL ESTATE CAPITAL

Serra Real Estate Capital (“Serra”) is a prominent real estate and project finance provider for corporate, governmental, and not-for-profit users that has facilitated over $20 billion in transactions and has extensive expertise as a project manager and municipal advocacy. Serra has established itself as a premiere financier, developer, project manager and real estate consulting firm. The firm is wellknown for its unique ability to provide 100% debt financing to investment grade entities in the form of credit tenant lease transactions. Serra is led by David Kelly, who previously served as Chairman of the Texas Techer’s Retirement System where he managed over $150 billion in assets. The principals of Serra have deep knowledge of real estate transactions and finance, each with over 30 years of experience in this field and having individually structured and financed billions of dollars in real estate transactions. Serra also has extensive, specific experience developing both single-family and multi-family affordable and market-rate housing. Mr. Kelly and Stan Waterhouse have over a decade of experience working together in affordable housing finance and residential development, ranging from the restructuring of a $1 billion portfolio to multi-family investment and development. Serra’s extensive relationships with numerous institutional investors provide unfettered access to a variety of financing sources for future developments as needed. Serra’s proprietary debt and equity capital structures offer its clients comparable or superior cost of capital and enhanced flexibility relative to traditional financing sources, while providing additional development and construction expertise—often at little or no cost as part of the financing program. These solutions have few of the traditional real estate or project finance lending or operational constraints. Serra also has an impeccable track record for development, with no projects to date over budget and none that were not completed within the designated timeframe.

ABOUT TUR PARTNERS

Tur Partners is a premier global investment advisory firm founded by former Chicago Mayor Richard M. Daley. The firm applies an unparalleled understanding of civic service and economic acumen to advise cities, corporations, institutional investors, and high-net-worth individuals on domestic and international strategic initiatives and value-add opportunities. Tur Partners leverages its incomparable city-building expertise and network of experts to advise clients and invest in projects where it can add immense value through deep experience in urban development. Additionally, Tur has access to exclusive funding resources, including corporations seeking to diversify investment portfolios and high-net-worth individuals. The firm strategically deploys these resources as needed to maximize impact.

ABOUT COHEN-ESREY

Cohen-Esrey is one of the nation's leading developers of multi-family residential properties and is anticipated to serve as the developer and property manager of the residential buildings within the project site. Headquartered in Overland Park, Kansas, Cohen-Esrey's roots in real estate go back to 1969. Since then, the company has been dedicated to enhancing the communities where it works by acquiring, developing, and managing multi-family properties and providing rewarding investment opportunities for communities, organizations, and individuals. Its cumulative multi-family portfolio totals over 68,000 units in more than 550 properties. Vertically integrated, the Cohen-Esrey family of companies provides a wide range of services, including apartment acquisitions, development, management, construction, maintenance service, building components supply, tax credit syndication, and equity procurement. Cohen-Esrey is viewed as an expert at designing innovative funding solutions to provide high-quality housing options for a variety of market needs. Solving these challenges requires intellectual capital, experience, and deep relationships with many stakeholders. Cohen-Esrey utilizes federal and state affordable housing tax credits, federal and state historic tax credits, tax-exempt bonds, and other creative debt and equity sources. Cohen-Esrey Development Group has over two decades of tax credit development experience. Of the 55 properties it has developed since 1996, all but one have utilized tax credits. The Company has seven developments under construction right now, six of which are utilizing tax credits. Cohen-Esrey has extensive experience with both 9-percent and 4-percent tax credits. Often, these credits are layered with subsidies from various public entities, such as Community Development Block Grant (CDBG) funds, HOME funds, Housing Trust Funds, EPA loans, and other local/county soft loans, federal and state historic tax credits, and renewable energy tax credits. Additionally, Cohen-Esrey works with the various Federal Home Loan Bank institutions to leverage their additional resources. The company has a history of delivering quality developments on time and on budget.

ABOUT KEYSTONE DEVELOPMENT GROUP

Keystone Development Group has over 120 years of combined experience in real estate acquisitions, development planning and programming, project design, and construction management. On behalf of their partners, Keystone has focused on maximizing project benefits by minimizing development risk, expediting the overall development process, and ensuring the highest quality control product and implementation standards. Keystone's team has extensive experience in large scale public-private partnerships, mixed-use master plan communities, and urban infill transit-oriented developments. Project examples where Keystone held key roles include: CityPlace Santa Clara - 240-acre masterplan that will include 5.4 million SF commercial, 1.5 million SF retail and entertainment, 2,500 residential units, and 700 hospitality rooms. This Public Private Partnership project sponsored by The Related Company is located adjacent to the San Francisco 49ers Stadium and is currently under construction. Oakland Athletics' Howard Terminal - This master plan included a 35,000 seat MLB baseball stadium, 3,000 residential units, 1.5 million SF commercial, 400 hospitality rooms, 270,000 SF retail, and a 3,500 seat performance center. The project was recently suspended as the Oakland Athletics announced they are relocating to Las Vegas. Rebuild Potrero - Replacement and conversion of 606 existing HUD-subsidized public housing apartments into a 1,600 unit affordable and market-rate mixed income community. This San Francisco project is currently under construction via multiple phases. MacArthur Transit Village - This public private partnership included the redevelopment of two City blocks adjacent to a mass transit rail station into a high-density mixed-use community containing 877 housing units, a public parking garage, and various commercial, retail, and community spaces. This project is completed and fully built out. Keystone is currently managing the development of a transit oriented mixed-use project that will include over one million SF of residential, commercial, and retail uses. The project's current priorities focus on budgeting, value engineering, and securing financing for a 240-unit high-density affordable housing project. Keystone is also engaged with Serra Real Estate and CGA Capital providing a range of services from development and construction management to contracts and funding oversite. Keystone created management controls and systems to ensure the various project budgets, schedules, and changes are accurately reported and contract provisions are properly implemented. Along with expediting funding, these tools and systems have helped minimize project delays.