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Home My WebLink AboutCA Ventures proposalVENTURES Private Developer Proposal for the Court St. / Linn St. Redevelopment Site HOSPITALITY, RESIDENTIAL & RETAIL MIXED-USE JJ Smith, Chief Development Officer 312 994 1882 jjsmith@ca-ventures.com John Diedrich, VP of Investments 312 994 1884 jdiedrich@ca-ventures.com July 2014 1 ca-ventures.com PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE HOSPITALITY. RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT EXECUTIVE SUMMARY In response to the Court and Linn RFP, CA proposes a mixed-use development consisting of a hotel, residential apartments and retail. The project would consist of three towers: one tower devoted to 117 hotel suites and 3,500 square feet of retail and two towers devoted to 304 multi -family units. The luxurious upscale design has extensive modern amenity spaces, high-end finishes, emphasis on energy efficiency and three floors of underground parking connecting all three buildings. CA's full-service on-site staff will manage the residential apartments and CA has received multiple letters of interest from major hotel franchises to brand the hotel. A qualified third party hotel operator would be sourced, in collaboration with the selected hotel brand, to oversee the day-to-day operations. PROJECT SUMMARY Hotel Rooms: Units: Retail SF: Parking Spaces: Average SF Per Unit: PROJECT TEAM Developer: Manager: Architect: General Contractor: Lender: Hotel Franchise: Legal: FINANCIAL CAPABILITY: Since its inception in 2004, CA has developed or acquired over 9.5 million square feet of real estate totaling $2.0 billion in investment value with another $2.5 billion currently in the pipeline. As a result 117 of the company's success and growth, CA has fostered numerous financial 304 relationships and has raised over $700 million in debt and equity. 3,500 DEVELOPER EXPERIENCE & CAPABILITY: Since 2008, CA has developed 272 2,200 residential units and 256 hotel rooms. CA continually delivers projects that are on-time, on -budget and fully integrated in the market. The reason 754 for such a successful track record is due to the creative design, competitive construction costs and an experienced leasing team. Fifth Third um Polsinelli PROPOSED TIMELINE MARKET DEMAND: According to the Smith Travel Research (STR) report of upscale hotels within the greater Iowa City area, occupancy has risen 20% over the last three years and revenue per available room has increased 24%. However, two of the five upscale hotels within STR's report are within Coralville, meaning Iowa City does not benefit from the 7% lodging tax. This project will revitalize the upscale hotel market as a more viable option to visitors through a premium location within the downtown area of Iowa City, having brand recognition and a new product premium. In addition, Iowa City will directly benefit from the lodging tax versus the lost revenue to Coralville. Entitlements Complete: FISCAL BENEFIT TO THE CITY: This project will have a significant beneficial The residential apartments will give the South Downtown Subdistrict the impact on Iowa City in the amount of revenue generated through property tax, Q1 / 2015 lodging tax and the number of employment opportunities. Upon completion, CA Ventures CA estimates Iowa City to receive $1,200,000 in property tax within the first CA Ventures year and another $330,000 in lodging tax. Based on CA's historic information, HPA the City will immediately benefit from approximately 250 jobs needed for Occupancy: construction and an additional 50 once the asset is stabilized. Beal Derkenne Fifth Third um Polsinelli PROPOSED TIMELINE MARKET DEMAND: According to the Smith Travel Research (STR) report of upscale hotels within the greater Iowa City area, occupancy has risen 20% over the last three years and revenue per available room has increased 24%. However, two of the five upscale hotels within STR's report are within Coralville, meaning Iowa City does not benefit from the 7% lodging tax. This project will revitalize the upscale hotel market as a more viable option to visitors through a premium location within the downtown area of Iowa City, having brand recognition and a new product premium. In addition, Iowa City will directly benefit from the lodging tax versus the lost revenue to Coralville. Entitlements Complete: Q1 / 2015 The residential apartments will give the South Downtown Subdistrict the Land Closing: Q1 / 2015 necessary population increase to extend the downtown area south and fulfill the Permit Issuance: Q2 / 2015 ongoing efforts to improve the quality of residential options. Construction Start: Q2 / 2015 An alternative to the original design would consist of a "flex" office space, Occupancy: Q2 / 2016 totaling 21,000 square feet, in which a bridge would connect a portion of Levels 1 and 2, allowing pedestrians an extra ease of access between the two residential buildings. PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE HOSPITALITY. RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT TABLE OF CONTENTS 01 Proposal Submittal Form..................................................................................3 02 Letter of Interest.............................................................................................4 03 Primary Contact..............................................................................................4 04 Legal Name & Company Information................................................................6 05 Legal Entity With Whom the City Would Contract..............................................7 06 Organizational Chart........................................................................................7 07 Developer Capability........................................................................................8 08 Financial Capability.........................................................................................12 09 Construction & Financing Plan....................................................................... 14 10 Public Financing Participation & Pro Forma....................................................19 11 Project Details & Design................................................................................20 12 Sustainability & Master Plan Objectives.........................................................28 13 Listing of Lawsuits or Litigation Within the Past Five Years .............................29 14 Appendix (Team Member Profiles, Contact Info & References) ......................31 EXHIBIT "A" Proposal submittal signature form T?,e und„ i__,Sned aNests to Ns/n a authority to subn irthis proposal and to bind the �rr, hnartect to perforin 4 the Arm is_ seieueV by the C y of Iowa City. I he undersigned ru-blei cer-kn est V he/she has read the P equesi for Proposal, ienms and cones .Ions, and any other documenktion etas ng to this squesf has comphed in all respects wth all _rjndRions hemot; and this proposal Is submitted Vditn r ll ,-iok,fieJga 3n,d a de )an01r6 of the requirements and time const,atnts noted herein, The u uengned hemby fwMei a:4;nov _i.�,cs Mai it accepts the term of the Reruestfor P-vposals in its ent're- ty and by the suandsman of its proposal havoy waives any claims or clr ons to it.F�i las has rtat arise out of s sch RF ; Lhe process e tipoyed by he CRR to s.,Hni and devehp proposals. a The RF. e valual m p ccess described in the RFP, and agree_ to reg se and hold harmless the City, its empldVeeS, ag:ect;, and co2iciulhanus Tom any Way loss, ca r damage anang Therefrom The undersigned hereby aut-Wes any person, On or corpo boy :o furnish any ecit history and Nancial con- dition o _thee info ;ration rc, dr ori by the City tri verify ( 43ilatior, uslkatCcl to the nnn's submission to the City. I hereby ne tUy on oerin of the undersigned ?A a that the above niori soon islu and coned A the n.st of ivy knowledge and Ina tae City may rely on the it mason ondided. Firm name- CAS e'enturc=_ Home office address: 151 id Clarla St. Suite- 4960 Ciy, sae; r:ip: Chicagp; IL s656i. Name ar blame, c igna k r Date. J!',. 4 VENTURES City of Iowa City, Iowa 410 East Washington Street Iowa City, Iowa 52240 July t5, 2014 To whom it may concern, Thank you for the opportunity to present our response to the Request for Proposals (RFP) for the redevelopment of the Court & Linn property in Iowa City, Iowa. We are excited about the prospect of working with the City to develop a Class A hospitality, residential and retail mixed-use project in the South Downtown Subdistrict of Riverfront Crossings. This project will have a positive impact to the South Downtown Subdistrict by satisfying the rising hotel demand, providing high-quality, urban style apartments and significantly increasing the taxable value of the property. CA has a passion for creating ideal mixed-use properties and believes that the assembled team is the best choice to successfully redevelop the site. We believe that the combination of residential apartments, hospitality and retail is the highest and best use for this development opportunity. As mentioned above, our proposed plan would bring visitors and residents to the South Downtown Subdistrict thereby helping create the desired pulse of activity needed to extend the downtown area. The added downtown population, tourism, amenities and retail will help the area achieve the objectives listed in the South Downtown Subdistrict Summary. CA Ventures consists of experienced and creative commercial design, development and operations professionals that have been successful in providing new, high-quality housing and hospitality communities on a national scale. If selected, CA brings "Best In Class" design and operational experience from lessons learned on developments in more than 20 key U.S. markets. CA understands that, in each case, tourism and in -city residents are the core constituency and driving force behind a successful community and city. Enclosed is our full response to the RFP We paid careful attention to addressing each parameter outlined in the RFP. We encourage you to ask us questions in order to fully understand our capabilities to work closely with the City to plan, design, construct and open a successful, high-quality project in the South Downtown Subdistrict of River Crossings, We look forward to meeting you and to begin an ongoing dialogue to address all of your concerns while sharing our mutual ideas. Respectfully, dqFr1Medrich (Primary Contact) Vice President of Investmants 161 N Clark St Suite 4900, Chicago IL 60601 jcjiedrich@ca-ventures.com 312-994-1884 PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE HOSPITALITY. RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT LEGAL NAME & COMPANY INFORMATION 1. The proposal submittal signature form (copy attached as Exhibit "A"). Signed Proposal on page 4. 2. A signed letter on the proposer's letterhead indicating an interest in the Project. Signed Letter of Interest on page 5. 3. Primary contact person and contact information. Primary Contact on page 5. 4. The legal name and address of the development entity, including all joint ventures, limited partnerships and limited liability companies, and the percentage of interest of each. Proposers are encouraged to include size of their firm, parent company, if applicable, and officers/principals of the firm. Development Entity: CA Residential Holdings, LLC 161 N Clark St. Suite 4900 Chicago IL 60601 Parent Company: CA Ventures Officers / Principals:' Tom Scott John Dempsey John Diedrich John Druffel Company Information: Founder: Year Founded: Headquarters: # of Employees: Investment Value: $ Raised: # of Investments: SF of Development / Acquisitions: Brian Morrissey A Smith Dan Hrankowsky Michael Yeagle Tom Scott 2004 Chicago, IL 80+ $2.0+ billion $700 million in debt & equity 70+ properties 9.5 million SF "Executive bios and contact information can be found in the appendix. PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE HOSPITALITY. RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT LEGAL ENTITY & ORGANIZATIONAL CHART 5. Identification of the legal entity with whom the City would contract, whether the entity exists currently or would be created for the purpose of this project, and the names and titles of all parties authorized to act on behalf of proposer: CA Residential Holdings, LLC 161 N Clark St. Suite 4900 Chicago IL 60601 Authorized Parties: Tom Scott (Chief Executive Officer) & J.J. Smith (Chief Development Officer) 6. An organizational chart showing all members of the proposed development team including, but not limited to developer, management agency, legal, design professionals, and consultants. Contact information should be provided for each team member. CA Ventures Lma Investor, Oevelopet & Manager ITom Scott Chief Exewtive 0/(icer 0 0 0 Brian Morrissey A Smith John Dempsey Chief. m! ... alodicer Chist Develo men. oBicsr Chief operet: othcer John Diedrich Dan Hrankowsky John Druffel Vice P'evdeot of Director of N"gn Lxe,,b. Vse Presftlent lr'.t-. n" I I Project Manager F.YECII[N6 VIf2 Beal Derkenne HPA Genets' Connector Architect of Recon] Note: Contact information can be found in the reference section of the Appendix. PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE HOSPITALITY. RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT DEVELOPMENT CAPABILITY 7. A description of proposer's previous experience, including a brief description of at least two mixed-use projects where the proposer played a substantial role. The descriptions should include the specific role of the proposer and the current status of the projects. Sufficient reference contact information should be provided for each project in order to permit the City to verify the information. ,PP IN Ed. CA Ventures, formerly known as Campus Acquisitions, has successfully developed more than 2,200 multi -family units and 256 hotel keys across the country since 2008. CA continues to deliver projects that are on time, on budget and fully leased. A direct reflection of our successful track record is due to the design of our buildings, competitive construction costs and an experienced leasing team. CA's strength in construction materializes from competitive construction costs to provide high- quality goods at a low cost. CA's typical building materials include recycled metal, concrete, self - healing concrete and other regionally sourced materials, where available. Also, CA purchases manufactured goods from local vendors to minimize transportation costs and impacts. CA's design team builds communities that specifically cater to the needs of the market. Every CA community has had specifically designed floor plans, amenities and interiors inspired by the local environment, city district goals and desires of the residents. This careful consideration makes each project purposeful and highly sought after. PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE HOSPITALITY. RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT RECENT PROJECTS - DEVELOPED & MANAGED MIXED-USE AT UNIVERSITY OF MICHIGAN LANDMARK I ANN ARBOR, MI Project Statistics: Land Size: 34,583 SF Residential: 197,422 SF Total SF: 301,394 SF Units: 173 Parking Spaces: 135 Site Condition: New Construction Construction Type: High Rise Rental Range (Per Unit): $1,699 to $6,000 Occupancy At Opening: 100% Contact:* Bill Suekens Cost Statistics Construction Project Total Total $42,757,828 $72,157,994 Per Unit $247,155 $417,098 Per SF $141.87 $239.41 Amenities Spa -life Fitness Center Wellness Center Modern Cardio Equipment Yoga Landscaped Elevated Courtyard Hot Tub Members Only Club Room Cyber Cafe Business Center Wi-Fi Lounges BBQ Station Fire Pit Retail Tenants: 7 -Eleven Tim Horton's No Thai World of Beer Partner Information: Architect: Hartshorne Plunkard Architecture Developer: CA Ventures Manager: CA Ventures Equity: Harrison Street Real Estate Lender: RBS Project Schedule Entitlements Complete: 09/2010 Land Closing: 01/2011 Permit Issuance: 02/2011 Construction Start: 02/2011 Occupancy: 08/2012 *Contact Information Provided in Reference Section of Appendix. PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE HOSPITALITY. RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT RECENT PROJECTS - DEVELOPED & MANAGED HYATT PLACE I CHAMPAIGN - URBANA, IL HOTEL & RESTAURANT MIXED-USE Project Statistics: Land Size: 26,000 SF Hospitality: 75,085 SF Restaurant: 8,557 SF Total SF: 83,642 SF Suites: 145 Parking Spaces: 146 Site Condition: New Construction Construction Type: Midrise Avg Daily Room Rate: $145 Contact:* Craig Przygoda Cost Statistics: Partner Information: Architect: DLR Group Developer: CA Ventures Hotel Operator: Hyatt Equity: Associated Lender: CA Family & Friends Project Schedule: Construction Project Total Total $25,547,723 $34,645,336 Per Key $176,191 $2,389,933 Per SF $305.44 $414.21 Amenities: Fitness Center Conference Space Indoor Swimming Pool Hotelwide Wi-Fi Cocktail Bar Bakery Cafe Partner Information: Architect: DLR Group Developer: CA Ventures Hotel Operator: Hyatt Equity: Associated Lender: CA Family & Friends Project Schedule: Entitlements Complete: 04/2013 Land Closing: 08/2013 Permit Issuance: 09/2013 Construction Start: 09/2013 Occupancy: 05/2014 *Contact Information Provided in Reference Section of Appendix PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE HOSPITALITY. RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT RECENT PROJECTS - DEVELOPED & MANAGED MIXED-USE AT TEXAS A&M RISE AT NORTHGATE I COLLEGE STATION, TX I WWW.RISEATNORTHGATE.COM Project Statistics Land Size: 42,962 SF Residential SF: 173,684 SF Total SF: 390,114 SF Units: 173 Parking Spaces: 355 Site Condition: New Construction Construction Type: High Rise Rental Range (per unit): $1,129 to $5,025 Occupancy At Opening: 96% Contact:* Katie Janik Cost Statistics Retail Tenants: CVS Great Wraps Partner Information: Architect: Hill & Frank, Inc Developer: CA Ventures Manager: CA Ventures Equity: Diamond Realty Investment Lender: Private Bank Project Schedule Entitlements Complete Construction Project Total Total $34,067,991 $44,169,375 Per Unit $195,793 $253,847 Per Bed $71,873 $93,184 Per SF $87.33 $113.22 Amenities: State -of -the -Art Fitness Center Fire Pit Study Rooms Library Recreation Room Yoga Studio Rooftop Pool Hot Tub Laundry Service Grilling Area Swim -Up Movie Projector Retail Tenants: CVS Great Wraps Partner Information: Architect: Hill & Frank, Inc Developer: CA Ventures Manager: CA Ventures Equity: Diamond Realty Investment Lender: Private Bank Project Schedule Entitlements Complete 02/2012 Land Closing 05/2012 Permit Issuance 05/2012 Construction Start 05/2012 Occupancy 08/2013 *Contact Information Provided in Reference Section of Appendix PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE HOSPITALITY. RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT FINANCIAL CAPABILITY 8. A description of the proposer's financial capacity to obtain acquisition, construction and permanent financing, including letters of interest from lenders and/or tax credit investors. A discussion of the financing sources and partnerships utilized for prior projects and references from these parties are also welcomed and encouraged. CA Ventures has operated and developed in over 20 markets nationwide, having raised more than $700 Million in debt and equity in multiple real estate sectors. CA's financial investment has topped $2.0 Billion to -date resulting in the continued ability to work with best -in -class investment and financing firms to provide efficient equity and debt. Since our start in 2004, CA has developed and maintained a number of successful relationships with financial sources. Below is a sample of our top capi' sources and completed business through 2014. Facility Contributors 1. RBS Citizens: $141,201,000 2. Private Bank: $124,052,000 3. Fifth Third Bank: $ 91,725,000 Capital Contributors 1. Harrison Street Real Estate: $88,277,000 2. Diamond Realty Investment: $50,006,000 3. Prudential: $30,150,000 1 ilk PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE HOSPITALITY, RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT FINANCIAL LETTER OF INTEREST FIFTH THIRD Rill sneakers Senior Vice President Commercial Real Estate Fifth Third Bank 222 S. Riverside Plaza, 33rd Floor Mail Drop GRVR38 Chicago, it 60606 TCL 3a 2.704.4104 .flfia...X.nSC@53com July 14.2014 Thomas M. Scott Chief Executive Officer CA Ventures, LLC 161 N Clark Street Suite 4900 Chicago, IL 60601 Re: Letter of Reference for the Private Developer Proposal for Court Street and Linn Street Redevelopment Site Dear Tom We understand that CA Ventures and CA Residential Holdings, LLC is in the process of submitting an RFP response to The City of Iowa City in connection with the above noted redevelopment project in Iowa City, Iowa. We understand that this letter has been requested to provide a reference for CA Ventures' proposed participation in construction of the project and financial capacity to undertake a project of this scale. CA Ventures has advised us that they will require construction debt financing for their participation in project. The project at the intersection of Court St and Linn St in Iowa City is anticipated to contain approximately 117 hotel rooms, 304 apartments, 3,500 SF of retail space and 272 parking spaces. The estimated total project costs for the development are $87,700,000. CA Ventures has requested a 65% lean -to -cost construction loan, totaling $57,010,000. We are pleased to confirm that CA Ventures has been a client of Fifth Third Bank on numerous real estate development In of similar scope and size and the bank and relationship manager has a continued active lending relationship with CA Ventures that dates back to 2007. Based un the understanding of the proposed project, the experience of the CA Ventures team members, and the CA Ventures track record we believe that CA Ventures is financially capable of undertaking the above noted project. Although we do look forward to learning more about this opportunity, this letter does not constitute a commitment by the Rank and does not create any obligation on part of the Bank We look forward to discussing this opportunity further with CA Ventures Sincerely, William C. Suenkens Relationship Manager, SVP Fifth Third Bank PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE HOSPITALITY, RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT CONSTRUCTION & FINANCING PLAN 9. A narrative describing the proposer's plan for construction and financing of the Project. This should include: A. Organization and management approach to the Project: As shown on the organization chart on page 6, CA Ventures will oversee the development, finance and management of the project. This project has received interest from Fifth Third Bank, who has provided nearly $92 million in financing on past CA projects. Beal Derkenne Construction, the proposed general contractor, is currently overseeing the con- struction of 532 CA units in three different markets nationwide and has worked on seven different projects in Iowa since 2010. HPA has worked with CA on three different projects totaling 305 units residential units. As a result of the assembled teams' previous experience, CA is more than confident that this project would deliver on time at the highest of quality. B. General schedule for completion of the Project following property acquisition: + Entitlements Complete: Q1 / 2015 + Land Closing: Q1 / 2015 + Permit Issuance: Q2 / 2015 + Construction Start: Q2 / 2015 + Occupancy: Q2 / 2016 C. Description of a general plan for construction loan and permanent financing, copies of any letters of intent from prospective purchasers and/or tenants: CA has already received multiple letters of interest from hotel franchises as well as financial institutions with regard to this project. CA will also reach out to alternate financial institutions to ensure the success of funding the project. D. Description of the marketing approach to secure purchasers or tenants: As mentioned above, CA Ventures has received three letters of interest from Hyatt, Hilton and Aloft to franchise the hotel. These recognized franchises will help Iowa City revitalize the upscale hotel market, making this project a more viable option for visitors than the hotels located in Coralville. CA Ventures' fully integrated management team collaboratively delivers a management system that targets resident satisfaction, operating efficiencies and the property's long-term physical well-being. CA managed buildings serve as an extension of the community. Between our on-site staff, corporate management and accounting departments, CA Ventures' assets are supported by individuals dedicated to making each building a success. CA engages an established broker that has local, regional and national relationships with retailers. CA identifies and targets a mix of retailers that we believe will be an amenity for our residents and the surrounding community. While rent and credit are important factors, the right retail mix and fit with the community is critical and something equally as important as rent and credit. Through a developed marketing campaign and thoughtful design, CA is confident in achieving a retail tenant that compliments both the project and the City. PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE HOSPITALITY, RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT HOTEL'S LETTERS OF INTEREST n HILTON WORLDWIDE July 8, 2014 Beth Hollenbeck Hospitality Development Coordinator CA Ventures, LLC 161 N Clark St., Suite 4900 Chicago, IL 60601 Susan Mmil n Hilton Nodi Sc Drectoq IleMelopment 755 C ossove, late NatMvest R,,on Memphis, IN 38117 USA (Iowa, Kansas, Mlssom, PH: 981-374-5958 MlnnaMa, Neb.ska, FX: W1-374£388 Nat & South Dakop) suszn.batliman@bllton.com VIA E-MAIL RE: Hilton Garden Inn Franchise Availability in Iowa City, IA Dear Beth: It was good talking to you last week; I am thrilled to hear you are working on the possibility developing a Hilton Garden Inn Iowa City, IA. I believe a Hilton Garden Inn would be a good ft in the market. As of this date, please be advised that the Iowa City Downtown market is available for a Hilton Garden Inn. As you know, it is the policy and practice of the company to enter into license agreements for specific locations only after formal application for the franchise has been received, processed and duly considered by our Development Committee. Once you are in a position to file the formal application, we will be happy to process those documents and should be able to give you a decision within approximately 120 days. If you have any questions concerning any aspect of our franchising procedure, please feel free to call me at 901-374-5958. Thankyou for your continued interest in Hilton Worldwide. Sincerely, cASIRA— Susan Bachman Sr. Director - Development Northwest Region QVC ,� , � GON RAD Hilton ®i Ucumn' i "Ofi swim® ... xlno� ssrom� �s, l%3.9LEIA6E .-..... +j•.-.-.. ..... _.. .. c.ewvrenaes PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE HOSPITALITY, RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT HOTEL'S LETTER OF INTEREST H�T VIA EMAIL July 6, 2014 Beth Hollenbeck CA Ventures, LLC 161 N Clark St.. Suite 4900 Chicago, IL 60601 Email: bhollenbeck(oca-ventures.com RE: proposed Hyatt Place—Iowa City, IA Dear Beth, Mark Younadam Director of Development 71 S. Wacker Drive Chicago, IL 60606 Tel: 312-780-6093 Thank you for your interest in proposing a new build Hyatt Place hotel located at Court Street and Linn Street in Iowa City, Iowa. Given the project's mixed-use component, including residential along with its location proximate to University of Iowa, University of Iowa Hospitals and Clinics and area business, we would be excited to see you develop a right sized Hyatt Place in this lodging market. We at Hyatt Hotels Corporation would also look forward to working with you on your third Hyatt branded hotel. As you know, Hyatt Place is a unique product that appeals to a variety of hotel guests needs. Our larger rooms, contemporary design and 24-hour food service appeal to a variety of travelers, from those on more traditional leisure or corporate trips, to those who may be visiting area for social meeting functions. Although I strongly support this project, formal approval would be subject to your submittal of a complete franchise application and our subsequent internal review and approval process. I look forward to exploring this exciting opportunity further with you. Best Regards, Mark Younadam PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE HOSPITALITY, RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT HOTEL'S LETTER OF INTEREST 61IDft A VISION OF W HOTELS VIA EMAIL July 7, 2014 Beth Hollenbeck CA Ventures, LLC 161 N Clark St., Suite 4900 Chicago, IL 60601 Re: Aloft, Iowa City, IA Dear Beth: starwood tiolE�sar� Resorts Jamey Cua SENIOR DIRECTOR, DEVELOPMENT T6148953118 F6148951462 C 614 499 5051 E jantey cualssarmo4 hotels cont 5240 Spikerush court Westerville, OH 43082 unnea sates Thank you for your interest regarding the Aloft brand in Iowa City, IA (the "Hotel'), and your interest in the possibility of having Starwood franchise the Hotel as an Aloft Hotel. Based on our understanding of the market and your description of the Hotel project, we are pleased to express our interest in further evaluating this opportunity. Please note that this letter is only an expression of our interest to further evaluate this opportunity and does not create any legally binding obligation on Starwood. You should not rely on this letter, or any further discussions regarding this potential transaction as an agreement, offer or commitment by Starwood to enter into any transaction with respect to the Hotel. We look forward to continuing our discussions with you. Sincerely, Jamey Cua Senior Director, Development Starwood Hotels & Resorts Worldwide cc: Allison Reid MERIDIEN �hFt Int lif Lllti COI LNI'INN W[SFIN FOVRXG�NT$ C'I.6rn,I Is W PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE HOSPITALITY. RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT PURCHASE PRICE & BENEFIT FOR THE CITY E. Proposed purchase price and the explanation of the purchase price for the Project property. CA is willing to offer $5,000,000 ($83.33 per square foot) for the Court and Linn Street redevelopment. This resem- bles 5.7% of the total project cost. While this may not be the highest purchase price offered, CA will be funding the project without any financial assistance from the City, meaning Iowa City will receive the full tax increment and lodging tax associated with the project. CA tax projections for the year one are displayed below: i ILExisting Tax Value Lrojected Tax Value Tax Increment Combined Property Tax $0.00 $1,592,341 $1,592,341 Portion Allocated to City $0.00 $663,108 $663,108 Portion Allocated to Schools $0.00 $543,948 $543,948 Sales Tax $0.00 $8,192 $8,192 Lodging Tax $0.00 $573,955 $573,955 Portion Allocated to City $0.00 $334,807 $334,807 Total: $0.00 $2,111,488 $2,111,488 Portion Allocated to City & School $0.00 $1,541,864 $1,541,864 In addition to the tax generated, the construction is expected to directly generate 250 jobs based on CA's previous job sites and the projected timeline. As a result of the completed redevelopment, the stabilized facilities onsite would gen- erate approximately 50 permanent jobs ranging from hotel staff to residential building engineers. PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE HOSPITALITY. RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT PUBLIC FINANCING PARTICIPATION & PRO FORMA 10. Public financial participation is contemplated / requested, a narrative and information requested: As previously mentioned, CA will not be seeking any financial assistance from the city. The below exhibit presents a preliminary project building cost, preliminary pro forma and sources and uses of funds. CA can provide additional items upon request. rtal Departmental Expenses 970,983 1,007,874 1,046,183 1,085,963 1,127,273 1perating Expenses Management Fee (4.0%) Year 1 2016-17 Year 2 2017-18 Year 3 2018-19 Year 4 2019-20 Year 5 2020-21 perating Revenue 1,529,341 1,575,221 1,622,478 1,671,152 1,721,286 Residential Rental Revenue 6,606,452 6,804,646 7,008,785 7,219,048 7,435,620 Hotel Revenue 5,284,159 5,442,684 5,605,964 5,774,143 5,947,367 Retail Revenue ($25/SF) 90,819 93,544 96,350 99,241 102,218 rtal Operating Revenue 11,981,430 12,340,873 12,711,099 13,092,432 13,485,205 rtal Departmental Expenses 970,983 1,007,874 1,046,183 1,085,963 1,127,273 1perating Expenses Management Fee (4.0%) 479,257 493,635 508,444 523,697 539,408 Property Taxes 1,529,341 1,575,221 1,622,478 1,671,152 1,721,286 Capital Reserve 287,366 287,366 287,366 287,366 287,366 Other Operating Expenses 2,318,194 2,387,740 2,510,115 2,637,683 2,716,813 otal Operating Expenses 4,614,158 4,743,962 4,928,403 5,119,898 5,264,874 )p Expense as % of Total Revenue 46.61% 46.61% 47.00% 47.40% 47.40% Income Sources & Uses % Residential SF Common Equity 35.0% 30,694,513 Preferred Equity 0.0% - Senior Debt 65.0% 57,010,000 Total Sources 100.0% 87,704,513 Land Costs 5.7% 5,000,000 Hard Costs 75.3% 66,060,403 Soft Costs 19.0% 16,644,110 Total Uses 100.0% 87,704,513 SF Summary: Residential SF 229,332 Commercial SF 3,500 Common Area SF 75,878 Hotel SF 42,300 Parking SF 126,925 Total SF 477,935 PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE HOSPITALITY. RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT PROJECT DETAILS & DESIGN 11. A visual description of the proposed Project. The Iowa City Downtown & Riverfront Crossings Master Plan offers the best local example of modern urban develop- ment guidelines. All aspects of the suggested pedestrian -oriented elements, park -like open / green space, streetscape- and careful management of public and private spaces apply directly to the proposed RFP site at Court and Linn. Immediately adjacent to the subject property, Linn Street Place is a modern, quality mixed-use development that pro- vides necessary community uses. The buildings activate the streetscape with retail and landscape elements; however, by occupying full blocks, they inherently limit the physical connection between downtown and the Court/Linn site. The proposed design consists of a mixed-use program, which includes three independent high-rise structures above a concealed 3 -story podium parking structure. Hotel, retail, residential and (flex) office space are included among these uses. Our redevelopment proposal aims to respond to all immediate and intermediate contextual conditions in conjunc- tion with meeting Iowa City's following goals for the project. Aerial Perspective PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE HOSPITALITY. RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT PROJECT DETAILS & DESIGN Site Plan 11 _RETAIL EXTERIOR fAFE t- •LANO'SCAPEdAAEA I 2 F7AGRADE b4 PAAKAMENITY j 3 F y AUTO C�UAi GARAGE ENTRY HOTEL F > BELOW 1 6,770 SFIFLOOA b Q RESIDENTIAL ENTRY T j' _ +--- w�. z RESIDENTIAL a ` RESIDENTIAL + L 8,800 SFIFLOOA i' 11 +1.12,200 SFIFLOOA 1 �r POOL I AMENITY DECK �! 1507-8 PL. — — E. COURT ST NJ WAAYTRAIIIC E. HARRISON ST. TEND WAY TRAFFIC GARAGE ENTRY BELOW PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE HOSPITALITY. RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT PROJECT DETAILS & DESIGN Typical Floor Plan with Unit Sizes 1 AODM 141 ROOM 01 OBE OREEN II -1 KING 1 NAB MO o2 KING X ELEC 1 ROOM 03 KING X ICE ROOM 04 KING ROOM 13 1 1 AOOM 05 OBE GREEN I 1 KING ROOM 1211 11 AODM Ofi OBE GREEN I KING 1 11 ROOM 07 AOOM111 KING DBLOOEENI h---- AOOMUB KIN - --� 11 KING AODM 101 OBE GREEN I 11 ROOM 09 o 1 IDUE GREEN UNIT 01 2BED 8505E UNIT 10 1 UNIT 02 2 -BED 1 1 1 -BED 8505E 11 1 5505E I � UNIT 09 11 1 UNIT 03 1 BED 1 1 2BED 5505E 11 8505E ONIT 08 1 r- 1 BED 1 5505E 11 ONIT 04 � 1 2BED UNIT 07 1 11 8505E 1 BED 1 5505E 11 1 ONIT 05 UNIT 06 1 11 2BED 1 BED `I' 9555E 670 BE I 150.57' P.L. F Z ' ? o N 3 11111. fLf`• 111 UNIT 01 UNIT 14 1" '1 2 -BED 2 -BED 1 1 9355E 2 -BED I ON IT 02 11 900 BE 8505F 1 2BED 11 X m UNIT 13 ' n 1 BED I 5505E 1 11111. fLf`• 111 ONIT 11 2 -BED I ON IT 02 11 8505F 1 2BED 8505E UNIT 11 11 11 UNIT 03 2 -BED 1 -BED 8505E 1 1 5505E - - - ONIT 04 BED UNIT 11 1 550 SF 2 -BER 850 BE 1 11 UNIT 05 - - _I 1 2 -BED UNIT 12 1 1 850 SE 1 BED 1 5505E 1 FX UNIT07 1 1 2 -BED 11 UNIT 06 9555E1 2BED a l925 BE Im � PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE HOSPITALITY. RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT PROJECT DETAILS & DESIGN Typical Parking Level Plan E. COURT ST NJ WAAVTRAIIIO �150.57'P.L � UNEXCAVATED m d FrDTEE TYPICAL GARAGE FLOOR o- 1100 PARKING SPACES [' I �EA Ls. CRE TxTE 15078'P.L. 602 GARAGE ENTRY �B 03 GARAGE ENTRY IBELDVVI E. COURT ST NJOWAVTRAIIIO E. HARRISON ST. MOWAVTRAIIIL PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE HOSPITALITY. RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT PROJECT DETAILS & DESIGN Plan Perspective Illustrating Open Space Encourage an urban, walkable neighborhood: +The adjacent buildings to the north crowd the north end of the Court/Linn site. In response, our proposed hotel structure extends to reach the north setback and define the streetscape, while the remainder of the site density recesses to invite pedestrian activity and the creation of park -like open/green space. + A small retail zone is planned at the front of the hotel building, enhancing this pedestrian open space and drawing the public realm into the site. + The public realm dissolves as it extends south, transitioning to a semi-public landscape plaza that extends the notion of streetscape into the neighborhood, despite the adjacent S Linn Street grade level dropping in elevation. + Although proposed as a fully developed site, the central landscape plaza provides pedestrian access across its full length and width. + The contrast of streetscape vs. central park space allows for a duality in the fapade design of the buildings. The urban street grid will be maintained at the exterior side, while elevations facing the courtyard will soften in comparison with subtle fapade relief and material/color changes. Visually, the treatment at the courtyard side will flow toward and wrap the Court Street fapade, accentuating the site design concepts and establishing pedestrian scale within the streetscape. PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE HOSPITALITY. RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT PROJECT DETAILS & DESIGN Consider a variety of uses for the Project: + The mixed-use nature of the program enhances the urban characteristics of the site and proposed design. +The site is in an optimal location for hotel and residential development, given the edge condition to the downtown and Riverfront Crossings neighborhood, and proximity to the University of Iowa campus. + Portions of Levels 1 & 2 of the East and West residential buildings are proposed as alternate "flex" office spaces, proposed to be connected by a transparent pedestrian bridge. Beneath this connector, a transparent security screen separates the semi-public landscape court from the private residential amenity deck to the south. Programmatic Section Diagram 15 12 RESIDE NTIALTONER BEYOND RESIDENTIAL RESIDENTIAL RESIDENTIAL RESIDENTIAL RESIDENTIAL RESIDENTIAL RESIDENTIAL HOTEL BEYOND RESIDENTIAL RESIDENTIAL RESIDENTIAL RESIDENTIAL ID RESIDENTIAL 12 RESIDENTIAL RESIDENTIAL HOTEL AM ENl1Y RESIDENTIAL HOTEL RESIDENTIAL HOTEL RESIDENTIAL HOTEL RESIDENTIAL HOTEL RESIDENTIAL HOTEL RESIDENTIAL HOTEL RESIDENTIAL HOTEL RESIDENTIAL HOTEL RESIDENTIAL HOTEL LOBBY R[34ILi HOTELI➢B --RmPARKING 30100 ssF, . 72 SPACES RD2PARKING 45,3]0EST, . 100 SPACES RDS PARKING 43, 355 DOE,.L 100 SPACES 5 PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE HOSPITALITY. RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT PROJECT DETAILS & DESIGN Aerial Perspective Looking Northwest Aerial Perspective Looking Southwest PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE HOSPITALITY. RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT PROJECT DETAILS & DESIGN Street Level Perspective Looking South From Court Street Aerial Perspective at South End of residential Amenity Deck PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE HOSPITALITY. RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT SUSTAINABILITY 12. A description of the energy efficiency of the building, including anticipated efficiency above the base standard, and a description of sustainability features proposed to be included. CA has also taken careful consideration into constructing an environmentally friendly project. The project will utilize cer- tain LEED practices featuring Energy Star appliances and energy saving fixtures. The use of both sustainable and locally produced material reduces the carbon footprint associated with the project while boosting the City's economy. Lastly, the residential parking ratio meets the zoning requirements (0.5 space per 1 bedroom unit and 1 space per 2 bedroom unit) with an additional 25 spaces designated for the hotel and retail. This low parking ratio count encourages pedestrian mobil- ity and public corporation. MASTER PLAN OBJECTIVES CA has planned the project with careful consideration to both the Riverfront Crossings District and the South Downtown Subdistrict's master plan objectives. The construction of CA's project fulfills these objectives of the District: to improve the quality of residential options and serve as an extension of the downtown area. The combination of hospitality, residential and retail use presents a diverse mix as proposed by the South Downtown Subdistrict master plan objectives. The retail space, located at a key corner within the district, will serve as an additional amenity for residential tenants with the poten- tial to provide everyday necessities without the inconvenience of using a vehicle. EXHIBIT "B" LISTING OF LAWSUITS OR LITIGATION WITHIN Lawsuit or Litigation: CA Ventures' principals, development entities or members of the development team have never been charged with or convicted of a felony nor have any of these members been involved in a litigation within the last five years. Status or Outcome: N/A Comments: None. APPENDIX PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE HOSPITALITY. RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT CA VENTURES INFRASTRUCTURE CA's robust infrastructure marries centralized systems and management expertise with localized operational expertise. CA has a dedicated and skilled management team with significant experience in financing, acquiring, developing and manag- ing real estate properties. The management team combines comprehensive real estate knowledge with local experience anc a proven track record. CA is committed to providing high-quality projects that exceed expectations of residents, community and other project stakeholders. The ability to target the right opportunities and maximize stakeholder investment through a comprehensive property management and leasing plan distinguishes CA from other owners, operators and developers. CA INVESTMENT MANAGEMENT + Investment management + Asset management + Acquisitions and developments sourcing + Debt and equity structuring CA Ventures CA DEVELOPMENT MANAGEMENT + Entitlement process management +A/E qualification and selection + Design development and permitting +Construction management + Interior design and finish selections + Project scheduling and budgeting CA PROPERTY MANAGEMENT +Operations management + Marketing and leasing + Accounting services + Human resources and staff training +Tenant management 2004 CA Ventures Growth Present PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE HOSPITALITY. RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT TEAM BIOS Thomas Scoff I CA Ventures I Chief Executive Officer 1 312 994 0874 1 tscott@ca-ventures.com Thomas Scoff, founder and Chief Executive Officer of CA Ventures. A business strategist at heart, Mr. Scott applies his uncanny ability to spot accretive opportunities and to translate them into results for investors. Mr. Scott is recognized for his astute financial acumen, market insight, and extensive understanding of real estate investment, development and management. Brian Morrissey I CA Ventures I Chief Financial Officer 1 312 994 0872 1 bmorrissey@ca-ventures.com Brian Morrissey, Chief Financial Officer for CA Ventures, oversees CA's financial operations focusing on all analysis, reporting, and operating reporting. He also works with CA's property and development teams to maximize each projects' operating and financial returns to the investor community. John Dempsey I CA Ventures I Chief Operating Officer 1 312 239 1899 1 jdempsey@ca-ventures.com John Dempsey, Chief Operating Officer of CA Ventures and Principal of CA Office, is responsible for overseeing CA Ventures' daily operations and resource management, driving performance measurements, and ensuring maximum investor return through select development endeavors and/or strategically repositioning non-traditional and/or under-utilized assets. J.J. Smith I CA Ventures I Chief Development Officer 1 312 994 1882 1 jjsmith@ca-ventures.com J.J. Smith, Principal of CA Ventures, oversees all development and acquisition activities. He creates and maintains project budgets and schedules; performs site acquisition land assemblage; performs deal creation, entitlement, financial feasibility, due diligence, building design, construction contract procurement, lease negotiations, and program implementation. John Diedrich I CA Ventures I Vice President of Investments 1 312 994 1884 1 jdiedrich@ca-ventures.com John Diedrich, Vice President of Investments of CA Ventures, is in charge of investment oversight as well as the analyst and research groups. He is responsible for the oversight of CA's acquisition and development analytic process related to new deals as well as valuations and mark -to -market of CA's existing portfolio and providing our investors with regular updates on their investments. Dan Hrankowsky I CA Student Living I Director of Design 1 312 994 1874 1 dhrankowsky@ca-ventures.com Dan Hrankowsky, Director of Design, oversees CA Ventures' development management group, guiding construction projects from concept through completion. John Druffel I CA Student Living I Executive Vice President 1 312 239 1898 1 jdruffel@ca-ventures.com John Druffel, Executive Vice President, oversees development, acquisition and management of high-quality student housing assets in select U.S. markets. He also specializes in energy, with specific expertise in MEP design, energy efficiency, building operation and automation systems, and integrated controls. "lichael Yeagle ICA Student Living I Executive Vice President 1 312 994 1866 1 myeagle@ca-ventures.com . hael Yeagle, Executive Vice President of Leasing and Marketing of CA Student Living, works closely with v the development team to conceive a competitive product through unit mix, amenity offerings, building features, and leasing promotions. He develops and implements comprehensive strategic property marketing programs through market analysis, brand management, leasing, marketing, and staffing oversight. PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE HOSPITALITY. RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT HARTSHORNE PLUNKARD ARCHITECTURE Founded in 1987, Hartshorne Plunkard Architecture is an award winning, full service architecture, interior and planning design firm located in Chicago's Fulton Market District. Leaders in new construction, historic preservation, green/sustainable, mixed-use and renovation projects, HPA design interpretations transform the way we live, work and interact with each other. The Hartshorne Plunkard design team is comprised of talent- ed, experienced and progressive architects and designers who thrive on each challenge presented. They utilize a single -studio approach that fosters creativity and cumulative, effective design strategies. They are like-minded problem solvers, innovators and partners throughout the building process. HPA's design approach involves a creative response to the unique attributes of each project. They have a proven track record of successfully meeting their client's budgetary and schedule requirements, as well as effective administration of the process. The result of their approach is a seamless delivery of beauti- ful, sustainable and creative design solutions. As part of their practice and mission, they consider not only the aesthetics of a project but also how they designs impact the environment, and they utilize renewable resources whenever possible. PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE HOSPITALITY. RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT BEAL DERKENNE BIO Beal Derkenne Construction (BDC) was established in 2010 and has quickly emerged as a preferred Con- tracting partner across numerous product types and marketplaces. Lean in size, heavy in experience - their skillsets, drive and passion for what they do are the essentials that set them apart in the market. Headquartered in Des Moines, Iowa, BDC's operations extend to Arizo- na. Nebraska and Missouri. In a short period, the company has successfully executed close to 1,000,000 SF in projects, with another 650,000 SF currently under construction. BDC's position in the market is unique, having the size, structure and experience to be competitive on projects of all sizes. BDC is redefining the traditional roles and expecta- tions of project execution. They talk a different talk and actively steer the focus of all parties towards timely fruition. Their existing relationships, experi- ence and entrepreneurial skill sets continue to trans- late into project opportunities and successes. BDC's primary focus is to offer an unparalleled build- ing and development experience for our clients. A wealth of construction knowledge and a proven track record of project delivery success, complements their mission to create an experience for their clients that is above and beyond the standard. o 4E — -'C'.1 1 F". PRIVATE DEVELOPER PROPOSAL FOR COURT/LINN REDEVELOPMENT SITE HOSPITALITY. RESIDENTIAL & RETAIL MIXED-USE DEVELOPMENT PARTNER CONTACT INFO & REFERENCES HPA Contact: James M. Plunkard, Hartshorne Plunkard Architecture, 323 N Carpenter St., Chicago, IL 60607 jplunkard@hparchitecture.com, 312-226-4488 BDC Contact: Andrew Beal, Beal Derkenne Construction, LLC, 506 3rd St., Suite 300, Des Moines, IA 50309, 515-650-7807 Fifth Third Bank Contact: Bill Suenkens, Fifth Third Bank, Commercial Real Estate, 222 S. Riverside Plaza 33rd Floor, Mail Drop GRVR3B, Chicago, IL 60606, william.suenkens@53.com, 312-704-4104 References: 1. Bill Suenkens, Fifth Third Bank, Commercial Real Estate, 222 S. Riverside Plaza 33rd Floor, Mail Drop GRVR3B, Chicago, IL 60606, william.suenkens@53.com, 312-704-4104 2. Katie Janik, Private Bank, 120 LaSalle St., Chicago, IL 60603, kjanik@theprivatebank.com, 312-564-1284 3. Elizabeth Hozian, BMO Harris Bank, 111 W. Monroe St. / 115 S. LaSalle St., 5th Floor East, Chicago, IL 60603, Elizabeth.Hozian@bmo.com, 312-461-7984 4. Robert P. Mathias, Harrison Street Real Estate Capital, 71 S. Wacker Drive Suite 3575, Chicago, IL 60606, RMathias@harrisonst.com, 312-920-1852 5. Craig Przygoda, Associated Bank, 525 W. Monroe St. Suite 2400, Chicago, IL 60661, Craig.Przygoda@AssociatedBank.com, 312-544-4637 STUDENT L4 A IVING Private Developer Proposal for the Court St. / Linn St. Redevelopment Site HOSPITALITY, RESIDENTIAL & RETAIL MIXED-USE JJ Smith, Chief Development Officer 312 994 1882 jjsmith@ca-ventures.com John Diedrich, VP of Investments 312 994 1882 jdiedrich@ca-ventures.com CA Ventures 1 161 N Clark I Suite 4900 1 Chicago, IL 60601