MAR KET I NG MEM ORAN DU M - LoopNet · MAR KET I NG MEM ORAN DU M. PAGE | 3 MARKETING MEMORANDUM...

OFFER I NG FOR PU RC HASE

• The IVY Apartments | 62 Unit Apt Building - 15301 Valley Vista Blvd, Sherman Oaks, CA - 3.5% LP Interest• Sutton Place LLC | 136 Unit Apt Building - 1616 North Fuller Avenue, Los Angeles, CA - 2% LLC Interest• Toluca Terrace Apartments | 113 Unit Apt Building - 333 North Screenland Drive, Burbank, CA - 1% LLC Interest• 500 Chelsea Court Apartments | 67 Unit Apt Building - 500 North Rossmore Avenue, Los Angeles, CA - 2% LLC Interest• Francis University Commons LLC - 1.1282% LLC Interest Estancia San Miguel Apartments | 301 Unit Apartment Complex - 13330 West Road, Houston, TX Citrus Cross Shopping Center | Regional Shopping Center - SWC Alosta Ave and Citrus Ave, Azusa, CA

M A R K E T I N G M E M O R A N D U M

OFFER I NG FOR PU RC HASE

• Montecristo - FPM, LP | 358 Unit Apartment Complex - 215 North Loop 1604 East, San Antonio, TX - 5% LP Interest• FPM Augusta LLC | 312 Unit Apartment Complex - 2660 Augusta Drive, Houston, TX - 2.25% LLC Interest• FPM San Brisas LLC | 312 Unit Apartment Complex - 2020 Eldridge Parkway, Houston, TX - 2% LLC Interest• FPM Palomino LLC | 484 Unit Apartment Complex - 14111 Vance Jackson Road, San Antonio, TX - 3% LLC Interest• FPM Vista Ridge LLC | 271 Unit Apartment Complex - 6522 Camp Bullis Road, San Antonio, TX - 4.25% LLC Interest • Francis 7 Seventy Investments LLC | 320 Unit Apartment Complex - 333 North Screenland Drive, Burbank, CA - 1% LLC Interest

M A R K E T I N G M E M O R A N D U M

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MARKETING MEMORANDUMTHIS IS A MARKETING MEMORANDUM intended for buyers interested in purchasing limited partnership interests and limited liability company interests (the “Interests”) owned by The Joseph Mascolo Trust of 1997 (“Seller”) which LPs and LLCs (the “Entities”) own, directly or indirectly, certain interests in multifamily properties located in Texas and California (the “Properties”). This memorandum contains information pertaining to the Interests, the Entities and the Properties. Although the Seller has reviewed this memorandum, it does not purport to be all-inclusive or to contain all of the information that a potential buyer may desire. The Interests are being offered by an independent professional fiduciary who has been appointed as the trustee of the Joseph Mascolo Trust (the “Trustee”). The Trustee has no independent information and has conducted no investigation with regard to the Entities, the Properties, or the value of the Interests. As such, neither the Trustee nor the Seller nor any of their agents or employees (including Braun International) make any representation or warranty, express or implied, as to the accuracy or completeness of any of the information contained herein. The Seller and Braun disclaim any liability which may be based on such information, errors therein, or omissions therefrom. All financial data contained herein is unaudited. The information contained herein represents estimates based on assumptions considered reasonable under the circumstances. No representations or warranties, express or implied, are made as to actual returns to be generated from the Interests.

The information contained in this Marketing Memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Braun International. Neither Braun International, Seller nor Trustee has made any investigation, and makes no warranty or representation, with respect to the income or expenses for the Properties, the Entities, or any future projected financial performance of the Entities, the size and square footage of any of the Properties or their improvements, the presence or absence of hazardous materials, including PCB’s or asbestos, the compliance with State and Federal regulations, or the physical condition of the improvements thereon.

The Interests are being offered only to “Accredited Investors”, which means that the buyer must meet one of the following criteria: (i) a natural person with income exceeding $200,000 in each of the two most recent years or joint income with a spouse exceeding $300,000 for those years and a reasonable expectation of the same income level in the current year; (ii) a bank, insurance company, registered investment company, business development company, or small business investment company; (iii) an employee benefit plan, within the meaning of the Employee Retirement Income Security Act, if a bank, insurance company, or registered investment adviser makes the investment decisions, or if the plan has total assets in excess of $5 million; (iv) a charitable organization, corporation, or partnership with assets exceeding $5 million; (v) a director, executive officer, or general partner of the company selling the securities; (vi) a business in which all the equity owners are accredited investors; (vii) a natural person who has individual net worth, or joint net worth with the person’s spouse, that exceeds $1 million at the time of the purchase, or has assets under management of $1 million or above, excluding the value of the individual's primary residence; or (viii) a trust with assets in excess of $5 million, not formed to acquire the securities offered, whose purchases a sophisticated person makes.

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Property Information For Each Minority Interest1

2

3

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Summary Of Due Diligence Available

Purchase Information

OFFERING FOR PURCHASE

310.798.3123BraunMimx.com

CalBRE #01900930

• The IVY Apartments | 62 Unit Apt Building - 15301 Valley Vista Blvd, Sherman Oaks, CA - 3.5% LP Interest• Sutton Place LLC | 136 Unit Apt Building - 1616 North Fuller Avenue, Los Angeles, CA - 2% LLC Interest• Toluca Terrace Apartments | 113 Unit Apt Building - 333 North Screenland Drive, Burbank, CA - 1% LLC Interest• 500 Chelsea Court Apartments | 67 Unit Apt Building - 500 North Rossmore Avenue, Los Angeles, CA - 2% LLC Interest• Francis University Commons LLC - 1.1282% LLC Interest Estancia San Miguel Apartments | 301 Unit Apartment Complex - 770 North Eldridge, Houston, TX Citrus Cross Shopping Center | Regional Shopping Center - SWC Alosta Ave and Citrus Ave, Azusa, CA • Montecristo - FPM, LP | 358 Unit Apartment Complex - 215 North Loop 1604 East, San Antonio, TX - 5% LP Interest• FPM Augusta LLC | 312 Unit Apartment Complex - 2660 Augusta Drive, Houston, TX - 2.25% LLC Interest • FPM San Brisas LLC | 312 Unit Apartment Complex - 2020 Eldridge Parkway, Houston, TX - 2% LLC Interest • FPM Palomino LLC | 484 Unit Apartment Complex - 14111 Vance Jackson Road, San Antonio, TX - 3% LLC Interest • FPM Vista Ridge LLC | 271 Unit Apartment Complex - 6522 Camp Bullis Road, San Antonio, TX - 4.25% LLC Interest • Francis 7 Seventy Investments LLC | 113 Unit Apartment Complex - 333 North Screenland Drive, Burbank, CA - 1% LLC Interest

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The Interest being sold is 3.5% LP interest. The subject property consists of a four-story apartment building constructed in 1986. The property totals 62 units and a gross building area of 59,749 square feet. The unit mix consists of 19 one-bedroom/one-bath units and 43 two-bedroom/two-bath units. There are 106 on-site parking spaces or 1.71 spaces per unit. The improvements are situated on a 22,650 square foot site.

The Ivy Apartments - 15301 Valley Vista, Limited Ltd, a California Limited Partnership15301 Valley Vista Blvd., (Sherman Oaks) Los Angeles, CA 90046

• MARKETVALUEASOFDECEMBER82016:$18,360,000

• THESELLERISTHEJOSEPHMASCOLOTRUSTOF1997

• LONG-TERMOWNERSHIP

• PROPERTYISPROFESSIONALLYMANAGED

• LOCATEDINSHERMANOAKS,CA

• GROSSBUILDINGAREA96,078

• BUILTIN1986

• 11,384SQFTOFRENTABLEAREAON1.993ACRES.

HIGHLIGHTS

1 Property Information For Each Minority Interest

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The Interest being sold is 2% LLC interest. The subject property consists of a four-story apartment building constructed in 1987. The property totals 136 units and a gross building area of 96,078 square feet. The unit mix consists of 72 studio units and 64 one-bedroom/one-bath units. There are 168 on-site parking spaces or 1.24 spaces per unit. The improvements are situated on a 34,412 square foot site. The improvements are in good condition. As of the date of value, the property was 90.4% occupied and was in the process of a unit renovation program. As of the date of value, 103 units had been renovated.

Sutton Place Apartments - Sutton Place LLC, a California LLC1616 North Fuller Avenue, Los Angeles, CA 90046





• LOCATEDINLOSANGELES,CA

• BUILTIN1987

• 11,384SQFTOFRENTABLEAREAON1.993ACRES.

HIGHLIGHTS

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The Interest being sold is 1% LLC interest. The subject property consists of a three-story apartment building constructed in 1988. The property totals 113 units and a gross-building area of 99,335 square feet. The unit mix consists of 10 studio units, 46 one-bedroom/one-bath units, 7 three-bedroom/two-bath units and 2 three-bedroom/three-bath units. There are 242 on-site parking spaces or 2.14 spaces per unit. The improvements are situated on a 65.776 square foot site.

Toluca Terrace Apartments - MNT Properties LLC, a California LLC333 North Screenland Drive, Burbank, CA 91505





• LOCATEDINBURBANK,CA

• GROSSBUILDINGAREA99,335SQFT

• BUILTIN1988

• 242ON-SITEPARKINGSPACES

HIGHLIGHTS

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The Interest being sold is 2% LLC interest. The subject property consists of a four-story apartment building constructed in 1988. The property totals 67 units and a gross building area of 70,546 square feet. The unit mix consists of 29 one-bedroom/one-bath units and 38 two-bedroom/two-bath units. There are 128 on-site parking spaces or 1.91 spaces per unit. The improvements are situated on a 26,760 square foot site.

Chelsea Court Apartments - 500 North Rossmore LLC, a California LLC500 North Rossmore Avenue, Los Angeles, CA 90004





• LOCATEDINLOSANGELES,CA

• BUILTIN1988


• IMPROVEMENTSSITUATEDONA26.760SQUAREFOOTSITE

HIGHLIGHTS

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Francis University Commons LLC is a 1.1282% Member and/or Tenant-in-Common in two different properties: Estancia San Miguel Apartments and Citrus Cross Shopping Center. Estancia San Miguel Apartments are Luxury Apartments, Mediterranean Resort-Style Living in Bear Creek & Copperfield, on the Border of Jersey Village located at 13330 West Road, 77041, between Cy-Fair, Jersey Village, 290, Beltway 8 and Highway 6/1960—gorgeous one, two and three bedroom apartments. Francis-University Commons LLC, sole member of Estancia-Francis UC LLC (35% TIC interest in Estancia at San Miguel and a 75% member of JAR-University Commons LLC which is a 75% member of Citrus Crossings Properties LLC which is the sole member of property owner, Citrus Properties Fee LLC).

Estancia San Miguel Apartments - FRANCIS UNIVERSITY COMMONS LLC, a California LLC13330 West Road & North Eldridge Northwest, Houston, TX 77041




• 320UnitApartmentBuilding

• LOCATEDINNORTHWESTHOUSTON,TX

• BUILTIN2006

HIGHLIGHTS

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Francis University Commons LLC is a 1.1282% Member and/or Tenant-in-Common in two different properties: Estancia San Miguel Apartments and Citrus Cross Shopping Center. The shopping center is located in SWC of Alosta Ave and Citrus Ave, Azusa Ca – with credit tenants such as Chipotle, Jamba Juice, Applebee’s, The Habit, Pinkberry and many other well known companies. Francis-University Commons LLC, sole member of Estancia-Francis UC LLC (35% TIC interest in Estancia at San Miguel and a 75% member of JAR-University Commons LLC which is a 75% member of Citrus Crossings Properties LLC which is the sole member of property owner, Citrus Properties Fee LLC).

Citrus Cross Shopping Center - FRANCIS UNIVERSITY COMMONS LLC, a California LLC305-313 N Citrus Ave, Azusa, CA 91702




• LOCATEDINAZUSA,CA

• REGENCY10MOVIETHEATERASANCHORTENANT

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The Interest being sold is 5% LP interest. The subject site is located along the north side of North Loop 1604 East approximately 1/2 mile west of Highway 281. The subject improvements consist of a 358-unit two and three-story apartment complex, completed in 2005. There are 17 apartment buildings, which contain a total net rentable area of 338,390 square feet, according to information provided by the appraisers. There are five floorplans consisting of one, two and three bedroom units. It has a physical address of 215 North Loop 1604 East, San Antonio, Bexar County, Texas.

Montecristo Apartments – FPM, LP, a California Limited Partnership215 North Loop 1604 East, San Antonio, Bexar County, TX 78232

• MARKETVALUEINFORMATIONTOBEPROVIDED




• LOCATEDINSANANTONIO,TX

• TOTALNETRENTABLEAREAOF338,390SQUAREFEET

• THEREARE5FLOORPLANSCONSISTINGOFONE,TWO,AND

THREEBEDROOMUNITS

• BUILTIN2005


• LANDSIZE22.91ACRES(997,960S.F.)

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The Interest being sold is 2.25% LLC interest. The subject property consists of a 312 unit apartment complex. The Augusta Apartments that offer Luxurious, Loft-Style Living. Incomparably located at 2660 Augusta Drive, Houston, TX 77057 in the highly desirable Uptown Houston Galleria Apartments area—minutes from Downtown, Uptown and Rice University—The Augusta Apartments is your perfect place to enjoy world-class shopping, dining, sporting and recreational opportunities, all within immediate reach. Being right at home at The Augusta means you’ll work just as well as you’ll play since our sublime central location offers easy access to Loop 610, Beltway 8, I-10, Hwy 59 and the area’s top engineering, oil, gas and software employers.

Augusta Apartments – FPM AUGUSTA LLC, a Delaware LLC (43.75% TIC Interest)2660 Augusta Drive, Houston, Harris County, TX



• LOCATEDINHOUSTON,HARRISCOUNTY,TX

• PROPERTYTOTALS312-UNIT,FOUR-STORYMID-RISEAPARTMENT

• 12FLOORPLANSCONSISTINGOFONEANDTWOBEDROOM

UNITS

• GROSSBUILDINGAREA296,880SQFT(PERHCAD)

• BUILTIN2003

• 6-LEVELPARKINGGARAGECONTAINING525+-PARKINGSPACES

• TOTALNETRENTABLEAREAOF283,191SQFT

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FPM San Brisas LLC is the sole member of FPM San Brisas Property Owner LLC. The Interest being sold is 2% LLC interest. The subject property consists of one continuous tract of land totaling 20.5693 acres or (895,999 square feet). The subject is legally described as being Buildings 1 thru 49, San Brisas Apartments R/P and Amendment, Houston, Harris County, Texas. The subject is located at the southwest corner of Eldridge Parkway and Briarbrook Lane. The subject is currently improved with an apartment complex, known as the San Brisas Apartments. The subject is addressed 2020 Eldridge Parkway, Houston, Harris County, Texas.

San Brisas Apartments – FPM San Brisas LLC, a Delaware LLC (85% TIC Interest)2020 Eldridge Parkway, Houston, Harris County, TX 77057



• ONECONTINUOUSTRACTOFLANDTOTALING20.5693ACRES

OR(895,999squarefeet)

• CONSISTSOFA312-UNITGARDENSTYLEAPARTMENTTWO&

THREESTORYCOMPLEX

• ATOTALOF44APARTMENTBUILDINGS

• 20FLOORPLANSCONSISTINGOFAONE,TWOANDTHREE

BEDROOMUNITS

• 462,698SQFTOFRENTABLEAREA

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FPM Palomino LLC is the sole member of FPM Palomino Property Owner LLC. The Interest being sold is 3% LLC interest. The subject site is located on the west side of Vance Jackson Road. It has a physical address of 14111 Vance Jackson Road, San Antonio, Bexar County. The subject improvements include a 484-unit three-story apartment complex completed in two phases (2009 and 2012). There are a total of 21 apartment buildings, which contain a total net rentable area of 439,478 square feet (per the provided rent roll), and gross building area of 444,725 square feet including the clubhouse. There are 6 floorplans consisting of one and two bedroom units.

Palomino Apartments – FPM PALOMINO LLC, a Delaware LLC (31.80% TIC Interest) 14111 Vance Jackson Road, San Antonio, Bexar County, TX 78256



• LOCATEDINSANANTONIO,BEXARCOUNTY,TEXAS

• PROPERTYTOTALS484-UNIT,THREE-STORYCOMPLEX

• 6FLOORPLANSCONSISTINGOFONEANDTWOBEDROOMUNITS

• GROSSBUILDINGAREA444,725SQFT

• YEARBUILT2009&2012

• TOTALNETRENTABLEAREAOF439,478SQFT

• LANDSIZEOF31.2083ACRES(1,359,432SQFT)

• IMPROVEMENTSSITUATEDON34,412SQFTSITE

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FPM Vista Ridge LLC is the sole member of FPM Vista Ridge Property Owner LLC. The Interest being sold is 4.25% LLC interest. The subject site is located on the east side of Camp Bullis Road approximately 250 feet west of Interstate Highway 10. The subject improvements include a 271-unit two, three and four-story apartment complex completed in 2007. There are a total of 12 apartment buildings, which contain a total net rentable area of 272,473 square feet (per the provided rent roll), and gross building area of 277,969 square feet including the clubhouse. There are 17 floorplans consisting of one, two and three bedroom units.

Vista Ridge Apartments – FPM Vista Ridge LLC, a Delaware LLC (66.599% TIC Interest)6522 Camp Bullis Road, San Antonio, Bexar County, TX 78256



• LANDSIZEOF12.84ACRESOR(559,310squarefeet)

• CONSISTSOFA271-UNITTWO,THREEANDFOUR-STORY

APARTMENTCOMPLEXES

• ATOTALOF12APARTMENTBUILDINGS

• 17FLOORPLANSCONSISTINGOFAONE,TWOANDTHREE

BEDROOMUNITS


• GROSSBUILDINGAREAOF277,969SQFTINCLUDINGTHE

CLUBHOUSE

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The Interest being sold is 1% LLC interest. The subject site is located along the east side of North Eldridge Parkway approximately 500 feet south of Memorial Drive with additional frontage along the south side of Memorial Drive. The subject improvements include a 320-unit four-story mid-rise apartment building completed in 2014. There are two apartment buildings developed around two center courtyards and a 7-story parking garage. The total net rentable area if 266,807 square feet (per the provided unit statistics report), and the gross building area is approximately 279,278 square feet (per HCAD) including the leasing office/fitness center. There are 21 floorplans consisting of a one and two bedroom units. Other site improvements include a 7-level parking garage containing 499 regular spaces and 13 handicap spaces.

7 Seventy Apartments – Francis 7 Seventy Investments LLC, a Delaware LLC (67.51835% TIC Interest)770 North Eldridge Parkway, Houston, Harris County, TX 77057



• LANDSIZEOF5.4615ACRESOR(237,901squarefeet)

• CONSISTSOFA320-UNITFOUR-STORYMID-RISEAPARTMENT

BUILDING

• THEREARE2APARTMENTBUILDINGSDEVELOPEDAROUND

TWOCENTERCOURTYARDSANDA7-STORYPARKINGGARAGE

• 21FLOORPLANSCONSISTINGOFAONEANDTWOBEDROOM

UNITS


• GROSSBUILDINGAREAOF279,278SQFTINCLUDINGTHE

CLUBHOUSE

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Sum

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Buyers must execute a Confidentiality Agreement to obtain the financial information. Upon receipt of the executed agreement, the seller will provide the financial information access to the online dataroom.

Each limted partnership agreement and/or LLC operating agreement and/or TIC agreement

Trust k-1’s for 2015, 2016, 2017

Mortgage Debt For each property

Partnership Interest Purchase and Assignment Agreement

Property Appraisal as of December 8, 2016 for each property

Rent Roll for each property

Annual Statement (Profit and Loss) per property for 2015, 2016, 2017, 2018

Other information available for review

DUE DILIGENCE INFORMATION AVAILABLE FOR REVIEwwITh ThE ExECUTION OF ThE NON DISCLOSURE AGREEMENT

2 Summary of Due Diligence Available

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Sale

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OFFERING FOR PURCHASE PROCESS

30 day escrow period.Buyer to deposit 10% of the purchase price into escrow, balance at closing. Buyers to pay in full prior to Seller's assignment of Interest.Escrow company: First American Title will manage the closing transaction.

1. To obtain Property, Interest, and Entity information, prospective buyer must execute the Confidentiality Agreement. You may request this from BraunMIMX.

2. Upon receipt of the Confidentiality Agreement, access will be provided to the due diligence information located in the data room.3. Offers reviewed on a first come first serve basis; all offers are subject to acceptance4. Seller is not setting a price for each Interest, Seller is “Calling for Offers”.5. Interests may be purchased in any combination, individually or as a portfolio.6. Buyer to present offers on the approved and provided Offer Forms.7. Buyer to provide proof of funds and Accredited Investor Status with offer.8. Accredited Investor Only

Email: [email protected]: 310.798.3123

3 Sale Information

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DISCLAIMERBRAUN is the marketing company on behalf of the Seller of these minority Interests. Any transaction is between the Seller and the buyer. Braun is not acting as a broker nor investment advisor. Braun makes no representations or warranties on the approved use of the Properties nor of the value of the Interests. This memorandum is provided for the sole purpose of allowing a potential buyer to evaluate the Interests. The potential buyer is urged to perform its own examination and inspection of the Entity and Property information relating to the Interests, and shall rely solely on such examination and investigation and not on this brochure or any materials, statements or information contained herein or otherwise provided. Neither Braun, its members, managers officers, employees or agents, nor any of its partners, directors, officers, employees and agents, nor Seller, nor Trustee, nor any of their agents, employees or representatives make any representations or warranties, whether express or implied, by operation of law or otherwise, with respect to this memorandum, the Properties, Entities, Interests or any materials, statements or information contained herein or relating thereto, or as to the accuracy or completeness of such materials, statements or information, or as to the condition of the Properties or the Interests, quality or fitness of the Properties or Interests, nor do they assume any responsibility with respect thereto. Such materials, statements and information have in many circumstances been obtained from outside sources and have not been tested or verified. No projections or predictions are being offered with regard to the Interests. Without limiting the foregoing, in the event this brochure contains information relating to any “hazardous materials” in relation to the Properties, such information shall in no way be construed as creating any warranties or representations, express or implied, by operation of law or otherwise, by Braun, Seller, or Trustee, or their agents or employees as to the existence or non existence or nature of hazardous materials in, under, on or around any of the Properties. This brochure is provided subject to errors, omissions, prior sale, change of price or terms and any other changes to the materials, statements and information contained herein or relating to the Properties, Entities and Interests. Neither Braun, Seller, nor Trustee will be responsible if an Interest or Property is unsatisfactory to the buyer in any way. Braun suggests each buyer obtain appropriate advice from investment professionals prior to purchasing an Interest or Interests.

MAR KET I NG MEM ORAN DU M - LoopNet · MAR KET I NG MEM ORAN DU M. PAGE | 3 MARKETING MEMORANDUM...

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