The Mark Company Monthly Reports Los Angeles

The Mark Company Monthly Reports Los Angeles August 2015

Contents New Construction Pipeline Summary Disclaimer Notes 1) New Construction developments are either actively selling for the first time or a rental development that has been converted to for sale and is now actively selling. Most recent closings include the last 10 reported closings that have price and square footage included. 2) developments have completed their original sales process and are now being tracked for resales. Most recent closings include the last 10 reported closings that have price and square footage included. The list may include both new and resale closings as noted. 3) This report covers new construction developments with 20+ market rate units and selected resale developments with 50+ market rate units located in Downtown Los Angeles and along the Golden Mile. 4) Assume that developments in the New Construction section are actively selling units unless noted otherwise. In addition, list prices and number of units available are based on the month of the report and closings are based on what has been recorded to date. Please note that closings can take 30-60 days to be recorded. 5) On Market refers to the date the Sales Center opened. 6) Average Absorption is calculated from On Market through the date of the report. It accounts for units both in contract and closed. 7) Average /SF is calculated using only units where both square footage and price are known. Average /SF is defined as the average price divided by the average square footage. Averages are weighted averages. 8) Developments are considered once the last Market Rate unit has closed OR there have been three months without a closing, all units are in contract and the Sales Center is closed (e.g. there is no active marketing). 9) Below Market Rate units are omitted from new construction and resale closings whenever possible.

New Construction The following section contains sales information and updates for actively selling developments with 20+ market rate units located in the downtown Los Angeles, Hollywood and West Los Angeles Luxury areas. Project List* Downtown Los Angeles Metropolis Hollywood & West Hollywood The Hollywood The W Hollywood West Los Angeles Luxury 460 Palm Beverly West Ocean Avenue South - The Seychelle Ocean Avenue South - The Waverly The Carlyle Residences The Century * Each section sorted in alphabetical order

New Construction 831-899 Francisco Street 310 (Phase I) September 2014 TBD Developers Shanghai Greenland Group; CALPERS TBD Average Absorption 19 units/month Projected /SF $1,000 Metropolis (Phase I) Located in downtown Los Angeles, Metropolis will offer a collection of studio, one-, two- and three-bedroom condominium residences with stunning views of the Downtown skyline, Pacific Ocean and Hollywood Hills. The site is conveniently located two blocks from L.A. LIVE, giving residents easy access to world-class dining, shopping, sports and entertainment options. Sales Status 0 closed 186 in contract 124 available The project s initial 38-floor luxury residential tower includes 310 units. Plans also include a 350-room hotel and retail space. Available list prices as of August 2015: Studio Starting List : $633,000 Average Size: 526 SF Starting List /SF: $1,203 One Bedroom Starting List : $698,000+ Average Size: 760+ SF Starting List /SF: $895+ Two Bedroom Starting List : $1,288,000+ Average Size: 1,365+ SF Starting List /SF: $939+

New Construction 6250 Hollywood Boulevard Owner HEI Hotels & Resorts 143 October 2007 June 2010 $1,686/month Average Absorption 2 units/month $912 (5 units) The W Hollywood The W Hollywood is a mixed-use project situated at the world-famous intersection of Hollywood Boulevard and Vine Street and adjacent to the Hollywood/Vine Metro Red Line Station. The development is within walking distance of the Kodak Theater, the former home of The Oscars. Amenities include a 25-yard rooftop pool that converts to a nightclub after dark, a business center, fitness center and personal chef services. Residents also have signing privileges at all on-site restaurants, spas and bars. Finishes include Dornbracht bathroom fixtures, Poliform closet systems and cast iron bathtubs with Brazilian fossilized limestone surrounds. Kitchens are appointed with Caesarstone granite countertops, Varenna kitchen cabinets by Poliform in Wenge finish and energy-efficient Kuppersbusch ovens, stoves and dishwashers. Available homes are priced from $479,000 to $2,900,000. Sales Status 134 closed 3 in contract 6 available 14F 2/3 2,230 $2,250,000 $1,009 7/15/2015 14E 3/4 2,380 $2,450,000 $1,029 6/23/2015 12H 2/3 1,877 $1,870,000 $996 5/11/2015 14I 1/2 1,586 $1,350,000 $851 4/10/2015 8M 2/3 2,060 $1,320,000 $641 4/8/2015 14C 1/3 1,912 $1,575,000 $824 1/20/2015 14B 2/3 1,843 $1,500,000 $814 1/2/2015 6A 2/3 1,870 $1,425,000 $762 12/22/2014 11G 2/3 1,720 $1,160,000 $674 11/24/2014 10N 2/3 1,630 $1,060,000 $650 11/7/2014 Averages: 1,911 $1,596,000 $835

New Construction 460 Palm Drive 35 January 2015 TBD Developer ETCO Homes $1,000/month Average Absorption 4 units/month Projected /SF $950 460 Palm Located in the heart of Beverly Hills, 460 Palms offers 35 residences in two-, three- and four-bedroom floor plan configurations that range up to approximately 3,664 square feet. High-end finishes include Miele stainless steel appliances, Sub-Zero side-by-side refrigerators, Caesarstone countertops throughout, Italian cabinetry and hardwood flooring. Sales Status 0 closed 20 in contract 15 available Available list prices as of August 2015: Two Bedroom Starting List : $1,950,000 Average Size: 1,985 SF Starting List /SF: $982 Three Bedroom Starting List : $3,220,000 Average Size: 3,578 SF Starting List /SF: $900 Four Bedroom Starting List : $2,695,900 Average Size: 2,882 SF Starting List /SF: $935

New Construction 1200 Club View Drive 35 November 2008 March 2012 Owner Emaar LA Properties $4,500 - $5,000/month Average Absorption <1 unit/month $1,293 (2 units) Beverly West Beverly West is located next to the Los Angeles Country Club and within a mile of Beverly Hills. The project s 35 generously-sized homes average 4,100 square feet in size. Most of the floors are shared by two residences and there are six floors with only one home per floor. Kitchens feature Neff cabinetry and commercial-grade appliances. The project was originally developed by FiField Companies and called 1200 Club View. It was purchased by Emaar LA Properties in summer 2008 and put back on the market in November 2008. Homes can be purchased built out or as shells. Available list prices as of August 2015: Two Bedroom Starting List : $6,995,000 Average Size: 4,020 SF Starting List /SF: $1,740 Sales Status 10 closed 0 in contract 23 available 31 2/2 1,740 $1,466,000 $843 6/26/2015 9 3/4 3,690 $5,554,500 $1,505 2/5/2015 13 4/3 3,690 $6,200,000 $1,680 12/11/2014 28 3/4 4,020 $3,710,000 $923 11/12/2014 12 2/2.5 3,813 $6,218,000 $1,631 7/11/2014 14/15 6/8 7,710 $13,200,000 $1,712 7/9/2014 17 3/4 3,690 $5,210,000 $1,412 7/9/2014 6/7 6/8 7,710 $10,945,000 $1,420 5/28/2014 14N 2/3.5 3,813 $5,506,000 $1,444 8/21/2013 14S 2/2.5 4,158 $5,000,000 $1,203 3/23/2012 Averages: 4,403 $6,300,950 $1,431

New Construction 1775 Ocean Avenue 93 January 2014 November 2014 Developer Related California $1,300 - $1,600/month Average Absorption 5 units/month $1,378 (16 units) Ocean Avenue South - The Seychelle Ocean Avenue South offers coastal living in the heart of Santa Monica. The first residential development to be built on Ocean Avenue in two decades, the development offers stunning water views, retailers, restaurants and walkable plazas. The Seychelle consists of 93 residences featuring beautiful interiors by Clodagh Design International. Residents enjoy an attended lobby with 24/7 concierge, rooftop lounge with cabanas, a pool and grilling area deck, fitness center with yoga studio, business center, pet spa and bike storage. Tongva Park is situated alongside the property. Available list prices as of August 2015: One Bedroom Starting List : $995,000 Average Size: 999 SF Starting List /SF: $996 Two Bedroom Starting List : $1,415,000+ Average Size: 1,491+ SF Starting List /SF: $850+ Sales Status 78 closed 0 in contract 15 available 402 2/3 1,557 $1,837,500 $1,180 6/19/2015 603 3/4 2,096 $3,675,000 $1,753 6/9/2015 401 1/2 1,140 $1,375,000 $1,206 6/5/2015 502 2/3 1,557 $1,837,500 $1,180 6/5/2015 702 2/3 1,557 $2,125,000 $1,365 5/22/2015 410 2/3 1,625 $2,350,000 $1,446 5/15/2015 602 2/3 1,557 $1,875,000 $1,204 5/13/2015 506 2/2 1,402 $1,800,000 $1,284 4/16/2015 503 3/3.5 2,096 $3,626,000 $1,730 4/15/2015 607 2/3.5 1,693 $2,415,000 $1,426 4/3/2015 Averages: 1,628 $2,291,600 $1,408 Three Bedroom Starting List : $3,125,000+ Average Size: 1,995+ SF Starting List /SF: $1,566+

New Construction 1705 Ocean Avenue 65 September 2013 June 2014 Developer Related California $1,300 - $1,600/month Average Absorption 1 unit/month $1,463 (13 units) Ocean Avenue South - The Waverly Ocean Avenue South offers coastal living in the heart of Santa Monica. The first residential development to be built on Ocean Avenue in two decades, the development offers stunning water views, retailers, restaurants and walkable plazas. The Waverly s 65 residences feature stunning interiors by Marmol Radziner and Associates. Residents enjoy an attended lobby with 24/7 concierge, fifth floor Skybridge Lounge with gourmet kitchen, fireplaces and viewing deck, a fully-equipped fitness center, a pet spa and bike storage. Tongva Park is situated alongside the property. Available list prices as of August 2015: One Bedroom Starting List : $850,000+ Average Size: 869+ SF Starting List /SF: $950+ Two Bedroom Starting List : $1,840,000+ Average Size: 1,499+ SF Starting List /SF: $746+ Sales Status 47 closed 0 in contract 18 available 215 1/2 1,314 $1,650,000 $1,256 6/30/2015 214 2/3 1,609 $2,156,000 $1,340 5/22/2015 203 1/2 1,145 $1,318,100 $1,151 5/20/2015 212 1/2 1,165 $1,318,100 $1,131 5/20/2015 101 1/1 869 $800,000 $921 5/18/2015 504 3/3 2,195 $4,950,000 $2,255 5/12/2015 210 1/2 1,153 $1,290,000 $1,119 4/30/2015 206 1/2 1,025 $1,270,000 $1,239 4/23/2015 109 2/2 1,439 $1,400,000 $973 4/3/2015 209 2/2 1,370 $1,825,000 $1,332 3/20/2015 Averages: 1,328 $1,797,720 $1,353

New Construction 10776 Wilshire Boulevard 78 December 2006 August 2009 Developer Elad Properties, LLC ~$3,300/month Average Absorption <1 unit/month $1,078 (9 units) The Carlyle Residences The Carlyle Residences is a 24-story high rise with 78 condominiums located along the Golden Mile of the Wilshire Corridor. Amenities include a card room, Sports Club/LA branded fitness center, library, wine cellar, 24-hour valet parking and high-speed elevators opening directly to private residence foyers. Homes feature large floor plans with high ceilings, private balconies, floor-to-ceiling windows, Miele appliances and granite kitchen countertops. Home sizes range from 2,722 to 3,535 square feet, with penthouses on the top floors averaging more than 5,500 square feet. Available list prices as of August 2015: Two Bedroom Starting List : $2,580,000 Average Size: 2,735 SF Starting List /SF: $943 Three Bedroom PH Starting List : $8,850,000 Average Size: 5,283 SF Starting List /SF: $1,675 Sales Status 73 closed 2 in contract 3 available 901 2/2.5 2,765 $2,625,000 $949 7/14/2015 1502 3/4.5 3,389 $3,950,000 $1,166 7/2/2015 1704 3/4.5 3,407 $4,100,000 $1,203 6/18/2015 1802 3/3 3,535 $4,000,000 $1,132 5/13/2015 1701 2/2.5 2,765 $3,150,000 $1,139 4/20/2015 1801 2/2 2,837 $2,800,000 $987 4/7/2015 2102 3/3 3,535 $4,200,000 $1,188 4/1/2015 701 2/3 2,837 $2,535,000 $894 3/27/2015 1401 2/2.5 2,765 $2,650,000 $958 2/18/2015 2103 2/2 2,772 $2,975,000 $1,073 1/30/2015 Averages: 3,061 $3,298,500 $1,078

New Construction One Century Drive 147 January 2008 May 2010 Developer The Related Companies $3,500 - $8,900/month Average Absorption 2 units/month $1,447 (54 units) The Century The Century features 147 homes ranging in size from 2,400 square feet for a two-bedroom to 10,000 square feet for a full floor penthouse. The 42-story tower is nestled within a four-acre garden, insulating the building from the bustling street scene. The Century was designed by famed architect Robert A.M. Stern and features an elliptical shaped design with fluted columns and protruding eyebrow lintels. Amenities include a fitness center with private treatment rooms, screening room, children s playroom, business center, wine storage, private dining room and bar, an onsite restaurant and a 75-foot outdoor lap pool and pool deck with cabanas. Available list prices as of August 2015: Two Bedroom Starting List : $3,150,000 Average Size: 2,280 SF Starting List /SF: $1,382 Three Bedroom Starting List : $4,395,000 Average Size: 3,250 SF Starting List /SF: $1,352 Sales Status 144 closed 0 in contract 3 available 12A 2/4 3,150 $4,945,000 $1,570 7/17/2015 22A 3/2 2,880 $3,275,000 $1,137 4/9/2015 31B 3/5 3,430 $5,700,000 $1,662 3/18/2015 30D 2/3 2,280 $3,225,000 $1,414 3/9/2015 31D 2/3 2,250 $3,100,000 $1,378 3/9/2015 25A 3/5 3,520 $4,900,000 $1,392 12/5/2014 27B 3/4 3,585 $5,450,000 $1,520 10/23/2014 22B 3/3.5 3,585 $5,100,000 $1,423 9/26/2014 32B 3/5 3,446 $5,480,000 $1,590 9/26/2014 3A 4/6 4,642 $5,000,000 $1,077 9/25/2014 Averages: 3,307 $4,563,000 $1,380 Four Bedroom Starting List : $7,250,000 Average Size: 6,000 SF Starting List /SF: $1,208

The following section contains selected sold out developments located in downtown Los Angeles. Project List Adaptive Re-Use Barker Block Barker Block Warehouse No. 1 Biscuit Company Lofts Eastern Columbia Lofts Rowan Lofts Santee Village Towers Elleven Evo Luma Market Lofts Sky Lofts The Ritz-Carlton Residences at L.A. LIVE

513 South Hewitt Street 242 December 2006 August 2007 Developer The Kor Group $500/month 2011 $584 (8 units) Barker Block Stretching an entire block in downtown Los Angeles Arts District, Barker Block encompasses seven former industrial buildings transformed into modern loft homes. Designed to incorporate gallery areas, spacious floor plans and mezzanine levels, the homes feature stylish finishes and plenty of room for work and relaxation. Urth Caffe, one of Los Angeles most popular organic coffee houses, occupies the retail space. Sale Type 525 1/1 1,230 $910,000 $740 8/31/2015 Resale 220 0/0 1,120 $652,888 $583 6/17/2015 Resale 450 1/1 1,110 $651,000 $586 5/11/2015 Resale 335 1/1 1,620 $925,000 $571 4/29/2015 Resale 242 1/1 1,090 $620,000 $569 4/2/2015 Resale 107 2/2 2,630 $1,237,000 $470 3/24/2015 Resale 541 1/1 1,300 $825,000 $635 3/11/2015 Resale 440 1/1 930 $615,168 $661 3/10/2015 Resale 540 0/0 930 $585,000 $629 1/30/2015 Resale 554 0/0 740 $520,000 $703 1/16/2015 Resale Averages: 1,270 $754,106 $594

527 Molino Street 68 January 2014 March 2014 Developers CityView; Blackstone $364 - $520/month 2014 n/a Barker Block Warehouse No. 1 As Phase II of Barker Block, the Arts District development features 68 lofts housed in a reinvented 20th century factory and warehouse. Floor plans range in size from 675 to over 2,000 SF and feature open living spaces and designer finishes. Features include concrete or wood flooring, energy-efficient appliances, quartz countertops, custom wood cabinetry and Jenn-Air stainless steel appliances and Nest programmable WiFi thermostats. Amenities include a landscaped resort-style rooftop deck with pool, spa, private cabanas and an outdoor fireplace. Residences also enjoy a private fitness center, open-air courtyard, 24/7 security, lobby, controlled access and onsite Warehouse No. 1 Gallery. Urth Caffe, one of Los Angeles most popular organic coffee houses, occupies the retail space. Sale Type 110 0/2 1,291 $812,538 $629 9/3/2014 New 210 0/1 945 $586,000 $620 8/28/2014 New 306 0/1 1,070 $618,000 $578 8/21/2014 New 211 0/1 925 $595,000 $643 8/19/2014 New 310 0/1 1,036 $600,000 $579 8/19/2014 New 305 1/1 1,171 $635,000 $542 8/8/2014 New 307 1/1 1,065 $619,000 $581 8/8/2014 New 213 0/1 907 $586,000 $646 8/1/2014 New 311 1/1 1,091 $599,000 $549 8/1/2014 New 214 0/1 745 $490,000 $658 6/20/2014 New Averages: 1,020 $618,379 $606

1850 Industrial Street 104 May 2006 2006 Developer Linear City, LLC $500/month 2010 $712 (4 units) Biscuit Company Lofts Originally the site of the National Biscuit Company, this industrial-to-loft conversion offers one-, two-, three- and four-story floor plans. The building façade features brick cladding complemented with terra cotta ornamentation. Preserved and restored from the original building, the Biscuit Company Lofts boast one-inch thick maple hardwood flooring throughout the building. The homes feature exposed interior brick walls, steelclad columns, oversized bronze windows and 13- to 30-foot ceilings. Community amenities include a pool, garden and doorman. The largest penthouse home is spread over four stories and offers over 6,000 square feet of indoor and outdoor living space. The penthouse is composed of steel, stone and glass and contrasts with the brick façade that defines the rest of the building. Sale Type 414 0/0 1,178 $795,000 $675 5/20/2015 Resale 714 1/1 2,031 $1,500,000 $739 4/6/2015 Resale 415 1/1 1,052 $659,000 $626 3/31/2015 Resale 608 1/1 630 $526,262 $835 3/26/2015 Resale 407 0/1 1,423 $810,000 $569 8/17/2014 Resale 413 0/1 1,071 $660,000 $616 7/25/2014 Resale 310 0/1 975 $565,000 $579 5/15/2014 Resale 414 1/1 1,178 $675,000 $573 1/3/2014 Resale 401 0/1 744 $489,000 $657 12/31/2013 Resale 502 0/1 617 $390,000 $632 10/7/2013 Resale Averages: 1,090 $706,926 $649 The lofts provide easy access to downtown Los Angeles and are within close proximity to City Hall, the Southern California Institute of Architecture and Little Tokyo. The development is Mills Act approved, which allows homeowners in this historic building to pay lower property taxes.

849 South Broadway 147 September 2005 2007 Developer The Kor Group ~$640/month 2008 $593 (5 units) Eastern Columbia Lofts The Eastern Columbia Building opened in 1930 as home to the Eastern Columbia Outfitting Company. Once a historic showplace for fashion and furnishings, the building s exterior is one of Los Angeles finest examples of the Art Deco era with its zigzag modern style, clad in turquoise terra cotta and gold leaf. The gourmet kitchens boast stainless steel Amana appliances, black granite counters, pendant and inset lighting and architectural and period-inspired hardware ceilings, polished concrete floors with hardwood upgrades. Buyers were also able to select Kelly Wearstler Interior Design (KWID) packages with paint and wall covering options, mobile screens and bookshelves. Sale Type 1006 0/0 1,130 $740,000 $655 8/20/2015 Resale 710 0/0 1,200 $743,000 $619 5/27/2015 Resale 1106 0/1 1,130 $790,000 $699 4/13/2015 Resale 806 0/1 1,120 $710,000 $634 3/24/2015 Resale M11 2/1.5 1,830 $815,000 $445 3/11/2015 Resale 1005 0/0 1,120 $699,000 $624 1/30/2015 Resale 810 0/1 1,200 $665,000 $554 10/10/2014 Resale 512 2/2 1,730 $900,000 $520 10/3/2014 Resale 404 1/2 1,610 $795,000 $494 9/5/2014 Resale 412 2/2 1,770 $875,000 $494 5/31/2014 Resale Averages: 1,384 $773,200 $559

460 South Spring Street 206 August 2006 2007 Developer Downtown Properties $340+/month 2012 $682 (10 units) Rowan Lofts Originally built in 1912 by John Parkinson, the designer of Los Angeles City Hall and the Pacific Stock Exchange, this Beaux Arts-style building now houses 206 lofts and live/ work homes. Killefer Flammang Architects restored and preserved the building s façade, its nickel-and silver-adorned elevator doors, as well as its marble-clad lobby, hallways and stairways. The homes include Italian kitchen cabinets with soft-close doors, glass paneled interior doors, hardwood floors, granite countertops, exposed brick interior walls and Toto bathroom fixtures. Amenities include 24-hour security and concierge service, a community kitchen lounge and fitness center. Along the interior perimeter of the building, secluded from the streetscape, is a private landscaped area that features a lawn, oversized trees, bamboo garden, a dog run, built-in barbeques and outdoor fountains. Sale Type 410 1/1 800 $530,000 $663 8/19/2015 Resale 305 0/0 460 $378,800 $823 7/30/2015 Resale 915 1/1 948 $625,000 $659 6/11/2015 Resale 811 1/1 885 $601,000 $679 5/29/2015 Resale 1016 1/1 720 $515,000 $715 5/28/2015 Resale 712 2/2 998 $649,000 $650 5/15/2015 Resale 1014 1/1 851 $635,000 $746 4/10/2015 Resale 908 0/1 600 $385,500 $643 4/7/2015 Resale 1102 1/1 720 $480,000 $667 3/25/2015 Resale 911 1/1 930 $600,000 $645 3/20/2015 Resale Averages: 791 $539,930 $682

738 & 746 S. Los Angeles Street; 743 Santee Street 216 2007 October 2007 Owner Kennedy Wilson $567 - $595/month 2012 $554 (4 units) Santee Village Santee Village Lofts consists of three residential buildings in downtown Los Angeles Fashion District called The Cornell, The Santee and The Eckhardt. All of the buildings were former textile factories built between 1912 and 1924. Santee Village contains affordable and marketrate housing. The lofts feature up to 12-foot ceilings, oversized industrial windows, exposed spiral ducting, concrete columns, Italianstyle kitchen cabinetry, polished concrete floors, stainless steel Bosch appliances, granite countertops and six-foot bathtubs. Select lofts feature private balconies. Community amenities include barbeque areas, a pool, three spas, lounging areas, a basketball court, fitness center and a mini driving range with a putting green. Ground floor retail space includes a drugstore, liquor store, eclectic array of cafes and take-out restaurants and a block-long, landscaped central courtyard. Sale Type 807 1/1 650 $399,000 $614 8/27/2015 Resale 303 1/1 770 $335,000 $435 6/10/2015 Resale 405 1/1 1,050 $595,000 $567 5/13/2015 Resale 905 1/1 1,050 $620,000 $590 4/4/2015 Resale 602 1/1 740 $349,000 $472 10/2/2014 Resale 608 0/1 650 $340,000 $523 5/12/2014 Resale 708 0/1 650 $320,000 $492 5/1/2014 Resale 803 0/1 770 $353,000 $458 4/11/2014 Resale 1010 0/1 750 $401,500 $535 3/27/2014 Resale 905 2/1 1,102 $560,000 $508 3/25/2014 Resale Averages: 818 $427,250 $522

1111 South Grand Avenue 176 January 2006 April 2006 Developer The South Group Unknown 2006 $585 (10 units) Elleven Completed in 2006, Elleven was the first residential highrise building built in downtown Los Angeles in over two decades. As part of the South neighborhood, the 13-story building features sustainable design and ground-floor retail space. Elleven was later joined by Luma and Evo. Sale Type 819 0/0 790 $525,000 $665 8/17/2015 Resale 713 1/1 930 $510,000 $548 8/7/2015 Resale 1013 1/1 930 $525,000 $565 7/24/2015 Resale 1211 1/1 1,780 $1,095,000 $615 7/17/2015 Resale 1105 1/1 1,090 $617,250 $566 7/8/2015 Resale 1112 1/1 920 $570,000 $620 7/1/2015 Resale 708 1/1 1,040 $563,000 $541 5/22/2015 Resale 502 1/1 1,100 $605,000 $550 5/12/2015 Resale 507 1/1 1,100 $615,000 $559 5/8/2015 Resale 510 1/1 840 $525,000 $625 5/6/2015 Resale Averages: 1,052 $615,025 $585

1155 S. Grand Avenue 311 July 2007 October 2008 Developer The South Group $500 - $800/month 2015 $711 (23 units) Evo With its façade of sculpted glass and metal panels, Evo marks the third phase of The South Group s South neighborhood. Evo is a ground-up, new construction project. The first two projects, Elleven and Luma, feature soft-loft designs. In addition to featuring lofts, Evo also has two-story townhomes. The homes range from 730 to 3,500 square feet in size and feature up to 11-foot ceilings, performance-glazed operable windows, walk-in closets, Juliet balconies and Millennium hardwood floors in a variety of finishes. The kitchens boast Caesarstone countertops with matching backsplashes, stainless steel ovens, cooktops and dishwashers by Bosch and stainless steel refrigerators by Amana. Kitchens in the penthouses come with Viking stainless steel appliances. The project includes an attended lobby, 24-hour security, Wi-Fi Internet in the common areas and three levels of subterranean parking. Rooftop amenities consist of a pool, poolside cabanas, outdoor fireplace, barbeque areas, media room, entertainment bar and fitness center. Sale Type 1502 2/2 2,370 $1,700,000 $717 8/26/2015 Resale 710 1/1 840 $630,000 $750 8/13/2015 Resale 303 1/1 1,180 $650,000 $551 7/17/2015 Resale 2002 2/2 2,370 $1,999,000 $843 7/16/2015 Resale 914 1/1 860 $625,000 $727 6/29/2015 Resale 301 1/1 1,200 $725,000 $604 6/19/2015 Resale 302 1/1 1,090 $628,000 $576 6/19/2015 Resale 703 1/1 1,120 $700,000 $625 6/1/2015 Resale 708 2/2 1,160 $750,000 $647 6/1/2015 Resale 1703 3/3 2,070 $1,300,000 $628 5/22/2015 Resale Averages: 1,426 $970,700 $681 With use of sustainable materials and energy-efficient construction techniques, Evo became the first LEEDcertified residential high-rise building in downtown Los Angeles.

1100 South Hope Street 236 September 2005 2007 Developer The South Group $550 - $750/month 2008 $790 (13 units) Luma The second project in the South neighborhood, Luma features 236 lofts, penthouses and live/work townhomes. Luma is a ground-up, new construction building with a glass-clad exterior separated by long concrete columns. Homes are configured in a soft-loft design and contain floor-to-ceiling windows, Ice Stone slab kitchen countertops with a six-inch backsplashes, stainless steel Frigidaire appliances, hardwood floors and up to 11-foot ceilings. Building amenities consist of a lap pool, a shared outdoor terrace sited on the 17th floor of the building, barbeque area with outdoor fireplace, attended lobby and package delivery, 4,500 square feet of retail and four levels of above and below ground parking. Luma received a LEED Silver Rating from the U.S. Green Building Council in fall 2008. Sale Type 1016 2/2 1,650 $1,295,000 $785 8/24/2015 Resale 1613 1/1 700 $545,000 $779 8/12/2015 Resale 1501 2/2 1,628 $1,480,000 $909 8/6/2015 Resale 801 2/2 1,570 $1,300,000 $828 8/3/2015 Resale 1410 1/1 1,030 $730,000 $709 7/2/2015 Resale 1401 2/2 1,580 $1,250,000 $791 6/17/2015 Resale PH102 2/2 1,780 $1,960,000 $1,101 6/9/2015 Resale 1512 1/1 1,120 $739,000 $660 6/2/2015 Resale 507 1/1 860 $619,000 $720 5/26/2015 Resale 804 1/1 990 $700,000 $707 4/17/2015 Resale Averages: 1,291 $1,061,800 $823

645 West Ninth Street 267 January 2007 2007 Developers Lee Homes; CIM Group $460 - $700/month 2010 $591 (9 units) Market Lofts Located in the South Park neighborhood of downtown Los Angeles, this mixed-use development consists of one- and two-bedroom lofts. The homes are located six floors above retail space, including Ralph s, the first supermarket in downtown Los Angeles since the 1950s. The lofts feature expansive windows, over nine-foot ceilings with exposed spiral ducts and pipes, Italian cabinetry, Caesarstone countertops and Whirlpool stainless steel appliances. Flooring options range from concrete for homes on the second floor, to oak or maple hardwood flooring for homes on floors three through 17. Building amenities include a landscaped roofdeck with a pool and spa, fitness center, a social room with a gourmet kitchen and a 20-seat movie theatre. Sale Type 210 0/0 720 $430,000 $597 7/28/2015 Resale 242 1/1 1,030 $610,000 $592 7/17/2015 Resale 400 2/2 1,310 $775,000 $592 6/5/2015 Resale 212 2/2 1,583 $810,000 $512 5/27/2015 Resale 208 1/1 720 $430,000 $597 5/12/2015 Resale 327 2/2 1,070 $735,000 $687 5/12/2015 Resale 500 2/2 1,310 $770,000 $588 4/30/2015 Resale 214 0/1 800 $465,000 $581 3/17/2015 Resale 700 1/2 1,310 $799,000 $610 3/2/2015 Resale 216 2/2 1,305 $648,000 $497 1/22/2015 Resale Averages: 1,116 $647,200 $580

801 South Grand Avenue 132 January 2006 July 2006 Developers Lee Homes; CIM Group $600 - $700/month 2007 $626 (4 units) Sky Lofts Sky Lofts is a mixed-use project in the South Park neighborhood of downtown Los Angeles. Originally an office building, Sky Lofts now features ground-floor retail, commercial office space on floors 2 through 11 and residences on floors 12 through 22. The 132 loft homes are accessed from a private elevator in a two-story, resident-only entry lobby. The homes feature dual-glazed oversized windows, stone countertops, 10- to 25-foot ceilings, concrete or hardwood flooring and European-style cabinetry with under-cabinet lighting. Each home is allocated two deeded parking spaces. Amenities consist of a fitness center, social room with a gourmet kitchen and movie theater. Sale Type 1309 1/1 980 $620,000 $633 7/24/2015 Resale 2101 2/2 1,432 $915,000 $639 6/8/2015 Resale 2104 2/2 1,270 $809,999 $638 5/7/2015 Resale 1708 2/2 1,351 $808,000 $598 3/11/2015 Resale 1905 3/3 1,580 $950,000 $601 1/23/2015 Resale 1207 2/2 1,330 $785,000 $590 12/31/2014 Resale 1403 1/1 990 $635,000 $641 12/31/2014 Resale 1603 2/2 1,320 $815,000 $617 11/26/2014 Resale 2007 2/2 1,440 $928,000 $644 10/31/2014 Resale 1507 2/2 1,320 $850,000 $644 9/25/2014 Resale Averages: 1,301 $811,600 $624

900 West Olympic Boulevard 224 May 2007 February 2011 Developer AEG $1,700 - $4,260/month 2014 $1,095 (6 units) The Ritz-Carlton Residences at L.A. LIVE The residences occupy floors 27 through 50, with penthouses occupying the 51st and 52nd floors. Below The Ritz-Carlton Residences is a 123-room Ritz-Carlton Hotel and 878-room J.W. Marriott Hotel. L.A. LIVE is an approximately four million square foot sports and entertainment destination site adjacent to the STAPLES Center and the Los Angeles Convention Center. L.A. LIVE showcases a Regal Cineplex, Nokia Theater, luxury apartments, upscale eateries, other retail and entertainment venues, including a bowling alley and the Grammy Museum. The development includes 150,000 square feet of commercial office space and a 120,000 square foot building that houses the West Coast broadcasting studios for ESPN. Sale Type 30G 1/1 1,130 $1,180,000 $1,044 8/13/2015 Resale 41K 2/2 1,700 $1,875,000 $1,103 8/10/2015 Resale Unk 2/2 1,820 $2,005,000 $1,102 6/1/2015 Resale 50E 3/3 2,347 $2,800,000 $1,193 4/16/2015 Resale 45E 3/3 3,170 $3,100,000 $978 4/14/2015 Resale 41J 3/3 2,220 $2,600,000 $1,171 3/27/2015 Resale 50D 2/2 2,640 $2,900,000 $1,098 12/29/2014 Resale 30F 1/2 1,053 $1,045,000 $992 11/24/2014 Resale 35J 2/3 2,090 $2,120,000 $1,014 11/6/2014 Resale 48E 3/4 2,980 $2,900,000 $973 9/19/2014 Resale Averages: 2,115 $2,252,500 $1,065

Pipeline Summary Under Construction Approved Under Review

Pipeline Summary Condominium Pipeline Summary Area Under Construction Approved Under Review Downtown 1,803 2,005 3,798 Westside 500 1,309 631 Hollywood & West Hollywood 0 311 200 Totals 2,303 3,625 4,629 Rental Pipeline Summary Area Under Construction Approved Under Review Downtown 10,314 2,418 4,766 Westside 471 104 2,481 Hollywood & West Hollywood 1,615 959 2,279 Totals 12,400 3,481 9,526 TBD Pipeline Summary Area Under Construction Approved Under Review Downtown 0 106 1,507 Westside 0 30 2,114 Hollywood & West Hollywood 280 520 2,241 Totals 280 656 5,862 The Mark Company maintains a detailed list of all upcoming developments in the pipeline. Contact Erin Kennelly at erin@themarkcompany.com for more information.

The Mark Company (TMC) Disclaimer 1. 2. Professional Opinion. With regard to the consulting services, reports, projections, and recommendations to be provided by TMC under the Agreement, whether delivered orally or in writing, the parties acknowledge that the matters on which TMC is consulted [e.g., assessing potential competition, market trends, demographic trends, financing availability, and the like] are not the subject of a predictive science, and are instead subject to unforeseen market variables and conditions. Client therefore understands and acknowledges that TMC s projections and recommendations as contemplated by the agreement are solely the result of TMC s considered opinion based on TMC s assumptions and judgments predicated on past experience in light of the relevant data studied with respect to the market conditions and the proposed project. Consequently, Client specifically agrees (a) that TMC s projections and recommendations constitute opinions only and do not constitute any representation or assurance of any future market conditions; (b) that any action taken by Client based on any such TMC projections or recommendations is made without any reliance thereon as a representation or assurance as to any future market conditions; and (c) that Client will not hold TMC liable or otherwise responsible for any losses occurring in the event that future market conditions deviate from TMC s projections and/or recommendations. Use of Product. All information, data, projections, and recommendations received by Client from TMC in connection with the Agreement, whether presented orally or in writing, shall be solely for use by Client, and is/are not to be used or relied upon by any third party[ies] without the prior written approval of TMC having been first had and obtained. TMC specifically disclaims any and all liability to any third party[ies] deriving from the use of, or reliance upon, any such material, and Client agrees to hold harmless, indemnify and defend TMC from any claims arising from any such use or reliance.