1Capital Markets | Investment Properties

OFFERING MEMORANDUM

BALBOA GARDENS3.68AC VACANT SITE PROPOSED SENIOR CARE/INDEPENDENT LIVINGGRANADA HILLS, CALIFORNIA 91344

AFFILIATED BUSINESS DISCLOSURE AND CONFIDENTIALITY AGREEMENT

CBRE, Inc. Operates within a global family of companies with many subsidiaries and related entities (each an “Affiliate”) engaging in a broad range of commercial real estate businesses including, but not limited to, brokerage services, property and facilities management, valuation, investment fund management and development. At times different Affiliates, including CBRE Global Investors, Inc. Or Trammell Crow Company, may have or represent clients who have competing interests in the same transaction. For example, Affiliates or their clients may have or express an interest in the property described in this Memorandum (the “Property”), and may be the successful bidder for the Property. Your receipt of this Memorandum constitutes your acknowledgment of that possibility and your agreement that neither CBRE, Inc. nor any Affiliate has an obligation to disclose to you such Affiliates’ interest or involvement in the sale or purchase of the Property. In all instances, however, CBRE, Inc. And its Affiliates will act in the best interest of their respective client(s), at arms’ length, not in concert, or in a manner detrimental to any third party. CBRE, Inc. and its Affiliates will conduct their respective businesses in a manner consistent with the law and all fiduciary duties owed to their respective client(s).

Your receipt of this Memorandum constitutes your acknowledgment that (i) it is a confidential Memorandum solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property, (ii) you will hold it in the strictest confidence, (iii) you will not disclose it or its contents to any third party without the prior written

authorization of the owner of the Property (“Owner”) or CBRE, Inc., and (iv) you will not use any part of this Memorandum in any manner detrimental to the Owner or CBRE, Inc.

If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return it to CBRE, Inc.

This Memorandum contains select information pertaining to the Property and the Owner, and does not purport to be all-inclusive or contain all or part of the information which prospective investors may require to evaluate a purchase of the Property. The information contained in this Memorandum has been obtained from sources believed to be reliable, but has not been verified for accuracy, completeness, or fitness for any particular purpose. All information is presented “as is” without representation or warranty of any kind. Such information includes estimates based on forward-looking assumptions relating to the general economy, market conditions, competition and other factors which are subject to uncertainty and may not represent the current or future performance of the Property. All references to acreages, square footages, and other measurements are approximations. This Memorandum describes certain documents, including leases and other materials, in summary form. These summaries may not be complete nor accurate descriptions of the full agreements referenced. Additional information and an opportunity to inspect the Property may be made available to qualified prospective purchasers. You are advised to independently verify the accuracy and completeness of all summaries and information

contained herein, to consult with independent legal and financial advisors, and carefully investigate the economics of this transaction and Property’s suitability for your needs. ANY RELIANCE ON THE CONTENT OF THIS MEMORANDUM IS SOLELY AT YOUR OWN RISK.

The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions at any time with or without notice to you. All offers, counteroffers, and negotiations shall be non-binding and neither CBRE, Inc. nor the Owner shall have any legal commitment or obligation except as set forth in a fully executed, definitive purchase and sale agreement delivered by the Owner.

© 2019 CBRE, Inc. All Rights Reserved.

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ASSET OVERVIEW

A large raw land development site located at approximately 12011 Balboa Blvd. in Granada Hills, California. Granada Hills is a low-density, affluent community at the northern end of the San Fernando Valley in Los Angeles County. The site is a wooded assemblage with a mix of sloping and flat topography.

Current ownership believes the site is conducive to a senior and/or memory care development and has received previous support from City Planning within the 12th District and a citizen advisory council. The site also received conditional use approval in 2004 to permit the construction and use of a church and preschool. There is an existing stream that runs along the required setback for any development on the property. California Fish and Game has issued a Mitigated Negative Declaration with regard to previously proposed projects.

Knollwood Country Club, a public golf and tennis facility, is located directly across the street from the site along with a Los Angeles Fire Department Station with paramedic and bus stops on each end of the block. Providence Holy Cross Medical Center is located just 3.5 miles east of the site, UCLA’s Porter Ranch Primary and Specialty Care Facility is just under 5 miles away as well. The site includes four Los Angeles County APNs zoned LARS (Residential Estate). Please visit 12011balboa.com to access the Virtual Deal Room with additional documentation available.

PROPERTY SUMMARY

160,283 SF(3.68 AC)

LOT SIZE

$21.84LOT PRICE/SF

$3,500,000LIST PRICE

2606-024-0242606-001-0132606-002-0152606-002-016

APN

LARSZONING

VACANT RESIDENTIALCOUNTY LAND USE

4

W

*NOT TO SCALE

BALBOA BLVD

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*NOT TO SCALE

N

6

SALES COMPARABLES

12011 BALBOA BLVD. 19000 RINALDI ST. 17540 KINGSBURY ST.17925 INDIAN MEADOW RD.

10650 RESEDA BLVD.15530 SAN FERNANDO

MISSION BLVD.

CITY Granada Hills Porter Ranch Granada Hills Granada Hills Northridge Mission Hills

STATE CA CA CA CA CA CA

ZIPCODE 91344 91326 91344 91344 91326 91345

SALE PRICE $3,500,000 $1,900,000 $1,300,000 $1,200,000 Unpriced $3,795,000

LAND SF 160,283 66,503 45,085 328,568 82,764 42,428

LAND AC 3.680 1.527 1.035 7.543 1.900 0.974

SALE DATE Proposed 11/20/2017 In-Escrow On-Market On-Market On-Market

PROPOSED USEAssisted Living/Memory

CareOffice/HQ Residential/Senior Care Residential Subdivision Residential Subdivision

Assisted Living/Memory Care

$/SF $21.84 $28.57 $28.83 $3.65 $40.00 $89.45

ZONING LARS LAC2 LAR1 LARE40 LARE11 LARS

1 2 3 4 5

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SALES COMPARABLES

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O'Melveny ParkO'Melveny Park

Van Nuys AirportVan Nuys Airport

Pacific Hospitalof the Valley

Pacific Hospitalof the Valley

Mission CommunityHospital

Mission CommunityHospital

Dignity HealthNorthridge

Dignity HealthNorthridge

NorthridgeFashion Center

NorthridgeFashion Center

Whiteman AirportWhiteman Airport

Knollwood Country ClubKnollwood Country Club

Porter Valley Country ClubPorter Valley Country Club

Porter RanchTown CenterPorter RanchTown Center Hansen DamHansen Dam

Los Angeles Mission CollegeLos Angeles Mission College

Providence Holy CrossMedical Center

Providence Holy CrossMedical Center

UCLA Health Porter RanchPrimary & Specialty Care

UCLA Health Porter RanchPrimary & Specialty Care

Veterans Memorial County ParkVeterans Memorial County Park

PACOIMA

SAN FERNANDO

PANORAMA CITY§̈405

§̈210§̈5

§̈405

Roscoe Blvd

Lassen St

Rinaldi St

dvlB

ao

bla

B

Foothill Blvd

Nordhoff St

Glenoaks Blvd

Devonshire St

Re

sed

a B

lvd

Chatsworth St

Polk

St

evA ll

eksa

H

Laurel Canyon Blvd

Osb

orne S

t

Van Nuys

Blvd

Woodm

an Ave

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W

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hazl

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Branfo

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Sheld

on St

evA tsr

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San Fernando Rd

Lin

dle

y A

ve

Saticoy St

Roxf

ord

St

San Fernando Mission Blvd

Bradley Ave

Tam

pa Ave

Sesnon Blvd

Lan

kers

him

Blv

d

N Macla

y Ave

evA k

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etih

W

Parthenia St

Sepulveda Blvd

Eldridge Ave

Co

ldw

ate

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an

yon

Ave

Hubbard S

t

Hubba

rd S

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dvlB

ad

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S

Saticoy St

Nordhoff St

Plummer St

Saticoy StSaticoy St

12011 Balboa Blvd

170

U118

UV170

NMOS#372097

POINTS OF INTEREST

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NMOS#372097

ANAHEIM

SANTA ANA

LONG BEACH

DOWNEY

POMONA

IRVINE

ORANGE

NORWALK

BURBANK

GLENDALE PASADENA

EL MONTE

TORRANCE

FULLERTON

INGLEWOOD

WEST COVINA

SIMI VALLEY

GARDEN GROVE

THOUSAND OAKS

SANTA CLARITA

EAST LOS ANGELES

CARSON

TUSTIN

COMPTON

LYNWOOD

WHITTIER

LA VERNE

ROSEMEADALHAMBRA

ALTADENA

MOORPARK

LAKEWOOD

HAWTHORNE

SOUTH GATE

BELLFLOWER

MONTEBELLO

BUENA PARK

SAN GABRIEL

YORBA LINDA

CHINO HILLS

CULVER CITY

WESTMINSTER

SANTA MONICA

BEVERLY HILLS

REDONDO BEACH

WEST HOLLYWOOD

FOUNTAIN VALLEY

§̈¦5

§̈¦405

§̈¦5

12011 Balboa Blvd

REGIONAL MAP

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1250

12-MONTHDELIVERED UNITS

7112-MONTH

ABSORPTION UNITS

2.0%VACANCY RATE

4.8%12-MONTH

ASKING RENT GROWTH

Q3 TOTALS

INDUSTRY EMPLOYMENT*

Management 15%

Office Admin 13%

Sales 12%

Healthcare 8%

Education 6%

Business and Financial 6%

Transportation and Moving 5%

Other 35%

DEMOGRAPHICS:

2019 BUSINESSES 1 Mile: 331 businesses 3 Miles: 3,409 businesses 5 Miles: 10,508 businesses

2019 EMPLOYEES 1 Mile: 2,231 employees 3 Miles: 36,408 employees 5 Miles: 114,463 employees

2019 POPULATION 1 Mile: 14,129 3 Miles: 129,866 5 Miles: 426,493

2019 # OF HOUSEHOLDS 1 Mile: 4,517 3 Miles: 40,212

2019 AVERAGE HOUSEHOLD INCOME 1 Mile: $140,285 3 Miles: $114,363

LA JOBSwithin 1 Mile-Radius

AREA OVERVIEW

Vacancies spiked in the North San Fernando Valley Submarket during the recession, but fundamentals have substantially improved since the start of the economic recovery. The vacancy rate has held at or below 3% for several consecutive years, largely because this is one of the more affordable submarkets in the metro. High rents in LA’s Central and Westside submarkets are pushing renters into peripheral areas like the North San Fernando Valley, and that upswing in demand is driving healthy rent growth. This area tends to be overlooked by multifamily developers, although the largest new community to be built in more than a decade broke ground in the second half of 2019. The area’s relatively low rents tend to deter new construction, and only a handful of new communities were built here this cycle. A single large trade accounted for the majority of multifamily sales volume over the first half of 2019.

CONTACT US

ADAM PETERSONFirst Vice President+1 310 550 2592adam.peterson@cbre.comLic. 01815802

Capital Markets | Investment Properties

ALEX FRAPECHAssociate+1 310 228 2105alex.frapech@cbre.comLic. 02026469

DANNY VENEGASAssociate+1 310 550 2551danny.venegas@cbre.comLic. 02091905