THE OPUS GROUP

WINTER 2015

IVY ON FOURTEENTHMILWAUKEE, WI

www.opus-group.com

Your Vision, Delivered.

Learn more about our multifamily work inside.

Thanks to many great clients and the support of many colleagues, we’re building on the momentum of an exceptionally busy summer with new deals, groundbreakings and project completions this fall.

In metropolitan areas across the country, we’re collaborating with city officials and community members to deliver new projects across many sectors that align with each city’s strategic plans to bring energy and renewal to urban neighborhoods. We are seeing a nice spike in development activity with two exciting multifamily projects underway in St. Louis and an excellent mix of multifamily and industrial projects in Phoenix.

Our expertise is also being tapped in markets beyond the cities where we have offices. Our deep network of in-house experts allows us to pull together experts across our markets for each project. This means we can develop, design and construct regardless of geographical location, including current projects in Amarillo, Texas; Fargo, ND; and Youngstown, Ohio.

We continue to focus on providing creative solutions that use real estate to help clients achieve their business goals. We look forward to the opportunity to deliver your vision.

CORNERSTONE

Tim MurnanePresident & CEOOpus Holding, L.L.C.

As demand for luxury housing options in urban environments increases, employers located in downtown business districts are looking to refresh and expand office spaces. With our collaborative approach, we’re helping our clients earn a best-in-class workplace reputation.

Xcel Energy is one company experiencing such growth. Committed to providing high-quality, contemporary office space to support its downtown Minneapolis workforce, Xcel envisioned expanding its footprint, creating a two-building urban corporate campus adjacent to its current headquarters.

Xcel selected us for our extensive experience in the office sector and our ability to handle the complexities the urban site would present. Office space directly affects the ability to attract and retain top talent – a business imperative for success. Designed to reflect the latest trends in office development, users will experience a more collaborative, flexible environment with the wide array of amenities today’s workforce desires.

ACHIEVING BUSINESS GOALS WITH INTEGRATED WORKPLACE SOLUTIONS

SECTOR SPOTLIGHT

Matt RauenhorstVice President, Real Estate Development

Opus Development Company, L.L.C.

XCEL ENERGY @ 401 NICOLLETMINNEAPOLIS, MN

Creating Value from Experience

The synergy established throughout the Minneapolis office project along with our integrated design-build approach earned the opportunity for future collaboration with Xcel on a new regional headquarters in downtown Amarillo, Texas.

While both sites present unique opportunities and challenges, lessons learned in Minneapolis were applied in Amarillo – ultimately helping Xcel achieve its vision for consistency throughout its markets. Along the way, we’ve been able to anticipate and refine the client’s needs based on prior experience.

We always aim to learn from our clients for our clients. New projects can reveal new efficiencies and insights. Relationships built across teams and across markets enable us to deliver the right results for our clients. Whether starting a new relationship or continuing an existing one, we’re always bringing new ideas learned from our prior work.

XCEL ENERGY - SPS AMARILLO HEADQUARTERSAMARILLO, TX

Wellness and casual, home-like spaces are desired in today’s office buildings.

Visit opus-group.com/Office to see our corporate work.

Environmental risk has evolved considerably over time along with the industry, markets and buildings we create.

Before states established voluntary cleanup programs in the early 90s, most developers focused on undeveloped or “green” sites to minimize uncertainty with the land, liability and costs associated with previous contamination.

As urban cores continue to grow at a rapid pace, many of the most desirable sites to develop are in or near cities, which are often contaminated or “brownfield” lots. Today, federal and state liability protections are utilized to support development of this land. Although these sites present complexities, we are able to manage the risks and ultimately deliver projects in prime locations to meet the demand for revitalization of cities across the country.

With environmental risk expertise in house, we stay knowledgeable, ensure projects run smoothly and minimize environmental liability for clients and future owners.

MANAGING ENVIRONMENTAL RISK FOR TODAY’S DEVELOPMENTS

INDUSTRY INSIGHTS

Margaret KnowltonDirector, Environmental Risk

Opus Holding, L.L.C.

OXBOSAINT PAUL, MN

For example, as we began due diligence on OXBO in Saint Paul, Minn., our team evaluated the site’s 130-year history that included numerous commercial and industrial users. We effectively addressed many pollution conditions before construction began by investigating the site for contaminants; developing a remedial action plan, which was approved by the state voluntary cleanup program; and managing the safe removal of asbestos prior to demolition.

Managing environmental cleanup requires streamlined coordination between developers, construction project managers and environmental consultants to ensure projects are accurately evaluated and efficiently remediated. This reduces the likelihood of delayed timelines and increased costs. By integrating the management of environmental risk into our overall approach, we deliver maximum client benefits through a seamless experience.

OXBOSAINT PAUL, MN

Now cleaned up, former brownfield sites provide high-quality live, work and play options in urban locations.

Collaborative downtown development has the potential to showcase the heart of a city. Saint Paul, Minn., one of the Midwest’s most iconic downtowns, has much to offer –commerce, nightlife, culture. In the historic Seven Corners neighborhood, we’re working closely with community leaders and city officials to enhance this hub of urban life with OXBO, a six-story, mixed-use luxury apartment and retail development. Strong downtowns and smart development: it’s a recipe for success.

THE STATION ON WASHINGTONMINNEAPOLIS, MN

THE NIC ON FIFTH®

MINNEAPOLIS, MN

VELO®

MINNEAPOLIS, MN

OXBOSAINT PAUL, MN

VENUE AT DINKYTOWNMINNEAPOLIS, MN

STADIUM VILLAGE FLATSMINNEAPOLIS, MN

MULTIFAMILY CREATES VIBRANT DOWNTOWNS

Steady Market Results in Strong Investments

As a growing market, St. Louis is delivering steady real estate results.

St. Louis is a development gem where delivery of new well-located quality product against modest competitive supply decreases investment risk and often delivers above average returns. We compete at the highest level in some of the country’s most developed and competitive markets. Those experiences allow us to capitalize on ripe opportunities in more underserved markets, like St. Louis.

Multifamily is on the Rise

St. Louis’ steady growth is especially evident in multifamily. In January 2015, we started construction on a 12-story, 217-unit luxury development in St. Louis’ historic Central West End neighborhood. This fall, our team broke ground on a similar project in Clayton, Mo., a six-story, 120-unit development in the town’s cultural hub. Both projects are located in the heart of the metro’s two strongest submarkets, benefiting from multiple demand drivers and thriving urban neighborhoods.

BEST KEPT SECRET: ST. LOUIS

MARKET SPOTLIGHT

Joe DownsVice President, Real Estate Development

Opus Development Company, L.L.C.

CLAYTON NORTH CENTRAL LUXURY APARTMENTSCLAYTON, MO

The success of these projects hinged on collaboration with Central West End and Clayton neighbors and community leaders, including city staff residents and historical preservationists. Attention to form and function went into these projects with elements that complement each neighborhood’s charm and demographics. Below street level parking will allow for active, pedestrian-friendly sidewalks.

Our team also recently completed a student housing project adjacent to the University of Missouri in downtown Columbia. Continuing the theme of well-located national product in urban cores, District Flats fully immerses residents in downtown’s cultural environment and provides walkability to campus.

We see the potential for growth and development in St. Louis across many sectors, and we’re prepared to deliver the right product at the right time, using our national experience to inform local decisions.

DISTRICT FLATSCOLUMBIA, MO

Central West End Luxury ApartmentsSt. Louis, MO

Consistently delivering for our clients not only requires a combination of market knowledge, real estate development expertise and innovative design-build solutions, it also requires capital. We possess extensive financing experience across a wide range of project types and access to various debt and equity capital sources to help clients quickly establish the most efficient and cost-effective project capitalization.

Having in-house capital markets capabilities available from the start of a project delivers great value in the end. As clients seek project financing, our strong relationships with various capital sources allow us to offer flexibility with different capital structures tailored to each client’s needs.

Our integrated approach also means that our capital markets expertise can be applied to a project when the time is right – a unique business model that mitigates risk, makes the process more efficient and seamless for the client, supports maximum client success and certainty of execution, and results in financial stability for projects.

INTEGRATED APPROACH SUPPORTS FINANCIAL COLLABORATION

BUILDING BLOCKS

Peter ConlonSenior Director, Capital Markets

Opus Development Company, L.L.C.

This cohesive approach provides the greatest flexibility to achieve the best capital solution and also provides easy lines of communication with a single point of contact throughout the process – something our capital partners equally appreciate.

Opus was the best partner we could have chosen to work with us on the development of our corporate headquarters. The entire Opus team focused on delivering the highest quality and most efficient product to satisfy our company’s needs. In the end, Opus exceeded our expectations – not our budget or timeline.

Robert JonesChief Administration Officer

GavilonOmaha, Neb.

We’re proud of our unique, integrated approach to project capitalization and to continue delivering maximum value for both clients and capital partners alike.

Collaboration is at the center of our process, allowing us flexibility to achieve the best capital solution.

Urban Land Conservancy (ULC) is building community in Denver.

Building stronger communities since 2003 by preserving and developing real estate assets in Denver, ULC has invested over $66M into 26 real estate projects, leveraging an additional $400M in economic development through public, private and nonprofit partners. ULC received a $50,000 Impact Fund grant from the Opus Foundation in November 2014 to support a community revitalization project, the Holly Square area in the Northeast Park Hill neighborhood. Holly Square once housed a vibrant retail center, but the area has been plagued with crime and heavy gang activity.

After purchasing the land, ULC used community visioning sessions to identify ideal uses for the area, including the new Vickers Boys and Girls Club. The Foundation’s funds will support the construction of a community overlook in an area above an existing storm water retention area. The retention pond impedes flow between the Square’s walkways and neighboring buildings and poses a safety concern.

FOUNDATION FUNDING SPURS EXPANDED REVITALIZATION PROJECT

BUILDING COMMUNITYAfter receiving funding from the Foundation, ULC realized the impact throughout the Greater Park Hill neighborhoods could be larger. With little to no connection to the new rail station or between the neighborhoods themselves and ULC’s own local projects, the organization saw an opportunity to create a greater community connection with a neighborhood trail. 303 ArtWay will be a cultural heritage trail that will feature art commissioned by the community and will work to celebrate the area’s past, present and future, all while providing a safe, educational, bike- and pedestrian-friendly way to move about the neighborhood and connect to the commuter rail line.

As the central part of the 303 ArtWay, the overlook project has expanded to include an outdoor learning space for community members and local organizations. Roots Elementary School, a planned addition to Holly Square, will design its curriculum around learning opportunities using the overlook, making the need and impact even greater.

Work on the overlook will begin in early 2016. Planning for 303 ArtWay is underway with a robust community visioning process beginning later this year. Proving that great things come from the Foundation’s support.

Kristin RidleySenior Advisor

Opus Foundation®

Learn more about the Opus Foundation and our community work at opus-group.com/Community. Learn more and support 303 ArtWay at 303artway.org and other ULC investments at urbanlandc.org.

Images courtesy of 303 ArtWay

DID YOU KNOW?DID YOU KNOW?

CONTACT US!

We are an integrated team of commercial real estate development, construction and design companies, collaborating with clients across the country to deliver their vision. We welcome your call!

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MINNEAPOLIS - CORPORATE HEADQUARTERS10350 Bren Road WestMinnetonka, MN 55343952.656.4444

CHICAGO9700 Higgins RoadSuite 900Rosemont, IL 60018847.692.4444

DENVER999 18th StreetSuite 2110 SouthDenver, CO 80202303.515.8800

DES MOINES1820 NW 118th StreetSuite 150Clive, IA 50325515.440.1482

PHOENIX2425 East Camelback RoadSuite 220Phoenix, AZ 85016602.648.5099

KANSAS CITY18001 West 106th StreetSuite 165Olathe, KS 66061816.480.4444

INDIANAPOLIS3610 River Crossing Parkway Suite 230Indianapolis, IN 46240317.705.0444

MILWAUKEE330 East Kilbourn AvenueSuite 222Milwaukee, WI 53202414.266.9393

ST. LOUIS7733 Forsyth BoulevardSuite 1100St. Louis, MO 63105314.296.6160

@TheOpusGroup Company/Opus

With our unique, fully-integrated design-build model, we’ve delivered millions of square feet, meeting our clients’ time and cost constraints and respecting their specific needs. Our model delivers many advantages.

THE OPUS DB3 ADVANTAGETM

Faster Completion. Reduced Cost. Best Total Value.

One Team. One Objective.

We’re fully-integrated from start to finish.

Extensive Experience.

Experience matters to your success, and we have it.

Early Cost Commitment.

You’re in control with our GMP.

Shorter Schedule.

Projects are completed faster without sacrificing quality.

Single Point of Responsibility.

Save time and gain efficiencies with one point of contact.

By continuously innovating and refining our process, we’ve honed our capabilities and expertise, ultimately delivering the best building for our clients.

Explore the Advantage: opus-group.com/advantage