East West Partners Advisory Services Brochure

EWPARTNERS.COM

ALL INFORMATION SUBJECT TO CHANGE

ADVISORY SERVICES

If you’re interested in learning more, don’t hesitate to reach out.

We’d love to hear from you.

CHRIS FRAMPTON, CEO CFRAMPTON@EWPARTNERS.COM

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A TERRIFIC PLACE TO CREATE TERRIFIC PLACES

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ABOUT US

OVER-DELIVERING IN THE VALUE DEPARTMENT East West Partners is more than a real estate developer.

We are partners in placemaking with the capabilities and proven expertise to tackle everything from master planning to workouts to fee development, all under one roof.

And our track record is proven—East West Partners is responsible for developing some of the nation's top resorts, urban communities, hotels and office buildings for nearly 40 years.

Our experienced teams in finance, construction management, sales and marketing, reporting and accounting, and hospitality create a true advantage for us—providing the depth and breadth of specialized skills required to deliver holistic, successful results for our valued partners.

Beaver Creek Village, Beaver Creek

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VALUES

The core beliefs that inspire everything we do.

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BE NICE AND DO THE RIGHT THING We treat everyone—from equity groups to crane operators—like we’d treat a friend. We hold ourselves accountable, work hard and treat people fairly.

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BE HONEST We run an all-cards-onthe-table kind of business, communicating with customers, partners and stakeholders frequently and clearly.

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PUT PEOPLE BEFORE PRO FORMA At the core of everything we do is our focus on enriching lives—so we thoughtfully consider how our work adds value while ensuring that our employees feel fulfilled and rewarded.

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LIVE WHERE WE WORK Creating a terrific place requires understanding what makes it great and what can make it better.

So we immerse ourselves in the communities where we work. In fact, we live in them.

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DON’T CUT CORNERS We’re in the business of creating forever, lasting, timeless additions to the communities we’re in, so we don’t take shortcuts.

The sweet taste of low price fades long before the bitter taste of poor quality.

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REPORT SPECTACULARLY Reporting is our keystone habit. It sounds boring.

But we love reporting.

We take pride in it and strive to be thorough, interesting and accurate.

Doing so makes us better at every other part of our job.

Not boring.

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BUILD GREEN Building sustainably is an obligation, which is fine with us, because we love the Earth.

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CONSTANTLY SURPRISE PEOPLE Instead of building to where we see things going, we design to where we think they should be, by seeking out innovative ideas that bring positive, unexpected transformations.

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HIGHLIGHTS

A UNIQUE SET OF SKILLS: Our passion drives our work ethic. Our values inform how we treat our partners, clients and teammates. Our skills guide our way to success.

Here’s a snapshot of our core areas of expertise and specialized skill sets.

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FEE DEVELOPMENT We are the catalyst for bringing your vision to life.

WORKOUTS

MASTER PLANS

SPECIALIZED TEAMS

We transform properties from distress to success.

We bring innovative, holistic, public and private solutions to life.

Financing Construction management Sales and marketing Reporting and accounting Hospitality Property management

OUR STRENGTHS Experienced Visionary Creative Flexible Customer focused Sustainably driven

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ABOUT US

DEVELOPMENT MANAGEMENT East West Partners has developed 1,000 acres of land, over 5,600 residential units, over 2,175,000 square feet of office space, and over 1,500 hotel rooms, with offices from Charleston to Kaua'i. We are one of several companies to have won three Urban Land Institute Awards for Excellence.

Financing: We are unrivaled in our ability to structure financing to protect value and deliver returns to long- and short-term owners of real estate. We have financed projects with banks across the real estate spectrum and have worked with equity providers of every type: family funds, publicly traded REITs, private investment funds and public municipalities.

Construction Management: In total, East West Partners has managed $7 billion in construction projects including office buildings, master plans, hotels, condominiums, fractional and timeshare,

restaurants, clubhouses and infrastructure. This experience gives us unique insights into controlling costs, managing general contractors and subcontractors, and enforcing schedules.

Sales and Marketing: Since our founding in 1986, East West Partners has sold over $34 billion in residential real estate. Our experience and expertise is unmatched, encompassing everything from land to fractional to resales to auctions. We’ve also sold over $2.3 billion in office buildings, land and hotels.

Reporting and Accounting: With our breadth of partners, we have created a streamlined but thorough reporting process that provides total transparency into a project, furnishes decision makers with key financial and demographic data, and meets regulatory requirements.

Our accounting team has an average tenure of 22 years.

The Coloradan, Denver

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ABOUT US

PROPERTY MANAGEMENT As a development company, East West Partners is unique, offering a breadth of property management experience and services that match our development expertise, adding even more depth to our Advisory Services. Because of this, we fundamentally understand and are capable of navigating the type of ongoing and long-term management issues that are key to the financial and social success of any development.

East West Hospitality: With over 1,500 employees across the country, we manage over 75 homeowners’ associations, three hotels and mixed-use assets. Our hospitality teams provide ongoing support and services to ensure the customer experience lives up to the vision for each project.

East West Urban Management: For nearly four decades, EWH has managed properties in some of the world’s most sought-after resort communities in the world. EWH was founded in Beaver Creek, Colorado, in 1986 to manage resort properties developed by its sister company, East West Partners. EWH currently works with partners throughout the Rocky Mountain West, California, South Carolina and Hawaii. EWH has over $6 billion in assets under management spanning 14 resorts and condo hotels, nine timeshare resorts/fractional properties, three spas, 10 retail operations, 10 restaurant operations, 34 urban residential properties, six commercial properties, over 120 homeowner associations (that consist of over 7,000 units), and over 1,100 individual vacation rental properties including Westin Riverfront Resort & Spa and Viceroy Snowmass.

The Westin Riverfront Resort & Spa, Avon

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KEY TAKEAWAYS

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OPERATIONS:

SALES AND MARKETING:

FINANCING:

DEVELOPMENT SERVICES:

Manage resort properties in Colorado, Lake Tahoe and Hawai'i with total values of over $1 billion with a team averaging about 500 people

Sold $34 billion in resort real estate over the past 33 years

Arranged $5.5 billion in financing since 1986

Master planning and placemaking

Own and manage brokerage firms with 225 agents

Public/private partnerships such as metro district financing

Entitlements, permits and government relations

∆ Slifer Smith & Frampton in Vail, Breckenridge, Aspen, Snowmass, Basalt, Glenwood and Denver, CO

Relationships and experience with a variety of capital market participants

Property valuation

Golf course and resort club management Hotel management Homeowners’ association management

∆ Equity

∆ East West Realty in Charleston, SC ∆ Mezzanine Specialize in selling new resort ∆ Construction lending properties for major property owners Legal structuring

Accounting Construction management Fee development

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CASE STUDIES

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CASE STUDIES

FEE DEVELOPMENT As fee developer, we are the catalyst for executing on the decisions of the project owner. We manage all aspects of development through construction completion and occupancy, tapping our breadth of resources to seamlessly and successfully bring the project to life while adding value in every way we can. From establishing financing structures

to managing reporting and approvals; construction management; activation of public spaces; as well as marketing, leasing and sales, we view success as our ability to exceed the expectations of all constituents involved.

1 Hotel Hanalei Bay, Hawaii 16 Chestnut, Denver

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16 CHESTNUT

DENVER, CO

PROJECT OWNER: Invesco Real Estate EWP ROLE: Building design, development and construction management, accounting, finance, sales and marketing through completion and occupancy.

As the initial developer for 16 Chestnut, East West Partners was responsible for the original design concepts, taking a bold approach to the architecture and building details with the intent of landing DaVita as the anchor tenant from the outset. Additionally, we approached the ground level integration with our unique perspective on the human experience within the context of the greater community and creatively designed the building to fit within existing public areas.

Once hired as fee developer, we quickly got up to speed understanding the approval processes within the corporate structure of Invesco in order to meet their needs. We advised

on critical decision-making in pursuit of both LEED Platinum and healthy workplace statuses. And we not only facilitated the pursuit of Slack as a secondary tenant but proposed creative solutions for addressing the challenge of dual tenancy—recommending the division of the lobby into two private tower entrances.

SUMMARY: From creating the original building concept through construction completion, East West Partners acted as the catalyst for delivering on time, under budget and fully leased.

“Everyone on the team at East West Partners was highly professional and experienced, and the resulting product is a leading-edge, top-of-class office building that we are very proud to have in our portfolio.”

Duncan Walker, Senior Director, Invesco Real Estate

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1 HOTEL HANALEI BAY

KAUA’I, HI

PROJECT OWNER: Starwood Capital Group EWP ROLE: Manage design, construction and permitting, as well as community outreach and PR efforts.

Our experience in luxury resort development and existing connections within the community positioned us as an ideal development partner for the renovation and rebranding of 1 Hotel Hanalei Bay on behalf of the Starwood Capital Group.

As fee developers, we were in charge of coordinating and managing the design team and their consultants, selecting and hiring a general contractor, and overseeing all aspects of the construction process as well as the permitting and entitlements process with our entitlement consultants.

Our previous experience operating in this real estate market gave us an added understanding of the political and environmental sensitivities surrounding the development

of 1 Hotel Hanalei Bay. As the on-site, physical presence for our clients, we represented their interests within the community, managed outreach and participation, attended events, recommended sponsorships and donations, and led public relations in an extra effort to alleviate any concerns by local constituents.

SUMMARY: Acting as a conduit between community and equity partner, we tap our development expertise in this niche market to deliver successfully on the expectations of all parties involved.

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“The great thing about working with East West as a developer-owner rep is that they have so much experience thinking and acting as an owner. They’re all about being a proactive partner in making decisions. And they know how to have fun in the process.”

Alex Waterbury, Managing Director, Starwood Capital Group

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CASE STUDIES

WORKOUTS Workouts happen when a property has fallen into distress, whether because of economic, financial or other issues with the original developer. East West Partners is uniquely positioned to tackle these challenging projects thanks to our full arsenal of development disciplines. We are deeply committed to achieving successful outcomes for both our investment partners and community end-users.

On turnarounds, we step in and analyze the best approach for addressing the issues plaguing the project, from lack of funding to construction defects, owner relationships, public perception and more. Then we oversee all aspects of the remaining development in order to revitalize the project and deliver successfully on or above everyone’s expectations.

The Landmark, Greenwood Village The Tides IV, Charleston

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THE TIDES

CHARLESTON, SC

EQUITY PARTNERS: SVPGlobal and Neuberger Berman EWP ROLE: Asset takeover and management, underwriting, reporting, sales and marketing.

The Tides luxury waterfront condominium project was originally completed in 2009 before the recession, selling 70 of its 120 units before the downturn. In 2012, East West Partners recognized its potential, despite significant distress, and signed on as turnaround developer.

Our two equity partners purchased the note in default by the bank, taking the title through foreclosure. From there, East West set out to right the ship, meeting with local brokers, the board of the HOA, existing homeowners and other local constituents to understand what was needed to restore the project to its former glory.

East West Partners addressed cosmetic upgrades, making improvements to interiors and landscaping over the next six months. Then we executed an extensive sales and marketing effort to signal change within the community, encourage interest and gain qualified leads. The project was sold out by 2014 with the average value of all residences increasing by almost $200/square foot from recession-era lows.

SUMMARY: With significant investments in property improvements, rebranding and extensive PR efforts to change community perception, East West Partners repositioned and sold all 50 remaining residences in two years, half the projected timeframe.

“East West Partners not only lived up to every commitment made to the city but exceeded them… residential buildings were constructed that commanded even higher values than anyone would have expected… They deliver on their commitment and act in a most cooperative and responsible manner.”

Joseph P. Riley Jr., Former Mayor, City of Charleston

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THE LANDMARK

GREENWOOD VILLAGE, CO

LENDER: GV Holdings EWP ROLE: Development management, construction management, project repair, accounting, finance, sales and marketing, and urban management.

The Landmark was two-thirds complete when East West Partners stepped in as receiver due to complications following the recession. The previous owner was highly leveraged when the downturn of 2008 halted sales and stalled construction progress, forcing the property into receivership.

As court-appointed receiver, and with financial backing from our lender, EWP invested significant resources and time as we worked to refresh, renew and revitalize the Landmark community. We interviewed homeowners and spoke to HOA members, local brokers and existing stakeholders to identify and address all construction defects and necessary capital improvements, both residential and commercial. Once we completed the

construction required to sell the remaining residences, we outlined and executed a comprehensive sales and marketing plan that led to the sale of all remaining units.

The result is a thriving community filled with vibrant retail, restaurants and happy residents—both new and existing.

SUMMARY: Through successful relationship building and expert management, East West Partners piloted this Greenwood Village icon to its full potential, achieving a complete sellout of all residences and leasing on almost all remaining retail space by 2017.

“Working with East West Partners was a pleasure—a rare pleasure. They were direct, honest, responsive and highly effective. And that shows in the results they achieved for all of us.”

Michael Holmberg, Neuberger Berman

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SNOWMASS BASE VILLAGE

SNOWMASS VILLAGE, CO

EQUITY PARTNERS: East West Partners, Aspen Skiing Company and KSL Capital Partners EWP ROLE: Development management, construction management, accounting, finance, sales and marketing, hospitality and urban management.

The financial crisis of 2009 left visions for Snowmass Base Village stalled for nearly 10 years. In 2016, East West Partners recognized the untapped potential for this vibrant base village and stepped in as turnaround developer. Through joint financing with our equity partners, we acquired the site and hit the ground running, working off existing plans for a complex mix of residential, retail and shared community spaces, and participating in ongoing community outreach to alleviate public concern and restore excitement for this new central base village.

One of the most complex public/private partnerships East West Partners has ever undertaken, Snowmass Base Village is a shining example of our ability to not only deliver, but to raise the bar on turnarounds.

We successfully completed construction of the Lumin and One Snowmass luxury residences, Viceroy and Limelight hotels, and public spaces, including the plaza with ice skating rink and creative community center. Then we stayed on, overseeing multiple HOAs, parking structures and more than 15 retail tenants for the long term—not just building a comprehensive resort, but smoothly running it.

SUMMARY: East West Partners rescued, completed and activated this idle, and vital, base village while restoring faith, boosting real estate sales and reenergizing the community around it.

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“EWP has made a significant impact on the quality of life in communities by balancing the competing imperatives of economic feasibility, community livability and environmental sensitivity.”

James Chaffin Jr., Chairman, Chaffin Light Management

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CASE STUDIES

MASTER PLANS It is no coincidence that our two most prominent master planned developments have been awarded the ULI Award for Excellence. We believe it’s a result of our extensive inhouse capabilities, our ability to successfully deliver across both public and private interests, and our passion for truly

understanding the needs of the communities in which we operate. This is what gives us a unique advantage in bringing large-scale, master planned projects to life for our clients.

Union Station, Denver Union Station and The Coloradan, Denver

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UNION STATION NEIGHBORHOOD

DENVER, CO

CLIENT: RTD + City of Denver EWP ROLE: Development management, planning, financing (public and private equity), construction management and community relations.

East West Partners was selected from a field of highly qualified candidates as the master developer of the Union Station Neighborhood. We planned, financed and built the new $480 million multi-modal transit center, now the hub of the city’s passenger rail, light rail, bus, pedestrian and bicycle traffic, as well as integrated with shops, restaurants, hotels and terrific public spaces.

Our greatest contribution was managing the combined interests of both public and private partnerships, working to fundamentally understand what was important in the

public realm and to the city, while honoring interests of our private partners, managing every aspect of the entire project to deliver on time, on budget and above expectations.

SUMMARY: We led a diverse team of public and private partners to transform 14 previously nonexistent blocks at the core of downtown Denver into a thriving city hub. Awarded the 2015 ULI Global Award for Excellence.

“The project provides proof that with skillful planning, expert management, collaborative spirit and vision, a massive urban development can be completed on time and on budget (even amid the upheaval of a deep recession), with an outcome that meets or exceeds the public's expectations.”

Urban Land Institute

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BEAVER CREEK RESORT

BEAVER CREEK, CO

CLIENT: Vail Resorts EWP ROLE: Development manager, construction management, accounting and reporting, sales and marketing, property management and hospitality.

East West Partners was selected by Vail Resorts to develop the master plan for the three-acre parcel of land at the center of Beaver Creek. We assembled and managed a complex team of architects, construction managers, and sales and marketing experts to bring their vision to life, starting with the creation of a central plaza as an organizing principle for the surrounding buildings. From there, we added underground parking, condominiums, the Vilar Performing Arts Center

530-seat theater, ice skating rink, shops and more. This community is still considered one of the premier ski resort destinations in all of the United States.

SUMMARY: A combination of visionary planning, thoughtful public spaces and exceptional execution transformed this once-in-ageneration opportunity into a timeless model for the ski industry.

Awarded the 1998 ULI Award for Excellence.

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“East West Partners is considered a leader and collaborator in our valley, willing to push forward key initiatives that create a better community for all who live or visit the Vail Valley.”

Michael Imhof, President and CEO, Vail Valley Foundation

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WATERFRONT

CHARLESTON, SC

CLIENT: Joint Venture Managed by East West Partners EWP ROLE: Master planning, development manager, construction management, accounting and reporting, sales and marketing, property management and hospitality.

East West Partners was selected by the master developer of Daniel Island to develop, plan, finance and build a new neighborhood on a 22-acre parcel on the waterfront of Daniel Island. What was once an underutilized public waterfront space under consideration for a marina has been transformed into a thriving destination within a destination on the water.

To achieve this, we assembled a team of best-in-class architects, engineers, construction, sales and marketing professionals to activate the area along the shoreline into a highly acclaimed village core offering residential, retail, hospitality, a restaurant and market, all integrated into a mix of highly thoughtful public spaces, including a waterfront park with an interactive fountain, children’s play area, two public docks, and pocket parks throughout.

As one of the last waterfront residential locations in Charleston, we were able to create a layered experience with an active, lively, energetic village core open to the public while maintaining a serene, peaceful interior to residences.

SUMMARY: East West transformed a once underutilized space into a thriving waterfront neighborhood on a 22-acre parcel in Daniel Island.

They assembled a team of experts to create a highly acclaimed village core with residential, retail, hospitality and public spaces. Waterfront balances an active village with access to the water, with peaceful interior to residences.

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OUR PARTNERS

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EQUITY

NEUBERGER BERMAN

SYNOVUS BANK

ALEXANDER & BALDWIN

SILVER POINT CAPITAL

UMB

ASCENTRIS

SLOAN DEVELOPMENT ENTERPRISES

U.S. BANK

ASPEN SKIING COMPANY

STARWOOD CAPITAL GROUP

VECTRA BANK

BARCLAYS

STRATEGIC VALUE PARTNERS

WELLS FARGO BANK

BATSON COOK

SVPGLOBAL

WESTERN ALLIANCE BANK

BLUE RIVER CAPITAL

VAIL RESORTS

BS PARCEL R, LLC

USAA

CARLYLE GROUP

ACCOUNTING & LEGAL BROWNSTEIN HYATT FARBER SCHECK

CIM GROUP

DEBT

CADES SCHUTTE

CRESCENT REAL ESTATE EQUITIES

ALPINE BANK

CHUN KERR

COMPANY

BANK OF AMERICA

DAVIS GRAHAM & STUBBS

CROW HOLDINGS

BANK OF THE OZARKS

ERNST AND YOUNG

DEER CREST ASSOCIATES, LLC

PRICEWATERHOUSECOOPERS

ECOVEST CAPITAL, INC.

BANK OF THE WEST BROOKFIELD (BREF VI HOLDINGS, LLC)

GWB PARCEL R PHASE I, LLC

EMIGRANT REALTY FINANCE

WEAR TRAVERS PERKINS

HYATT HOTELS

FIRSTBANK

WOMBLE BOND DICKINSON

INVESCO REAL ESTATE

JPMORGAN CHASE & CO.

INVESTCORP

MIDFIRST

KSL CAPITAL PARTNERS

SOUTHERN FIRST BANK

SHERMAN AND HOWARD

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WHERE WE WORK CHARLESTON, SOUTH CAROLINA

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STEAMBOAT, COLORADO

SNOWMASS, COLORADO

DEER VALLEY, UTAH BIG ISLAND, HAWAI’I

VAIL VALLEY, COLORADO

SNOWBASIN, UTAH

LAKE TAHOE, CALIFORNIA

KAUA’I, HAWAI’I

DENVER, COLORADO

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WE CREATE TERRIFIC PLACES

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LET’S BUILD SOMETHING GREAT TOGETHER

If you’re interested in learning more, don’t hesitate to reach out.

We’d love to hear from you.

CHRIS FRAMPTON, CEO CFRAMPTON@EWPARTNERS.COM

EWPARTNERS.COM

ALL INFORMATION SUBJECT TO CHANGE

ADVISORY SERVICES