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  Pacific Heights  
  An Entitlement Process in San Francisco  
 
Transaction Date: April 2007
Expected Net IRR: In excess of 20%
Expected Holding Period: 3 years with the right to terminate after 2.
 
 

Pacific Heights is a 15,306 square foot mixed used development located in San Francisco that the investment team will take through an entitlement process for the site to be “upzoned”. The site is strategically located in the South Financial District of San Francisco, considered to be the premier office market in the West Coast. The site is adjacent to the Transbay Terminal Project, $3.4 billion development project.

On April 2008, San Francisco’s Planning Department announced a proposed “upzoning” of 700 ft for Pacific Heights, double its original zoning and above the investment team’s anticipated target. The investment team has retained a political consultant and is working with its advisors to increase the allowed height limit through the approval process.