254FSE_OM

254 FIRST STREET EAST | SONOMA UNIQUE ENTITLED 31-UNIT CONDO DE VELOPMENT, A BLOCK FROM THE HIS TORIC DOWNTOWN SQUARE

UNIQUE ENTITLED 31 UNIT CONDO DE V ELOPMENT, A BLOCK FROMTHE HIS TORIC DOW NTOW N S QUARE

OFFERING OVERVIEW PROFORMA

6

CO N T E N TS

PROJEC TED PRICING

2

SITE PL AN

4

7

8

ZONING ANALYSIS FLO ORPL ANS

9

12

LO C ATION OVERVIEW POINTS OF INTERES T MARKE T OVERVIEW

14 16 18

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OFFERING OVERVIEW OFFERED AT $6,995,000 North of the Mission LLC is pleased to offer a 100% fee simple interest and associated development rights for 31 prime condominiums just off the Historic Sonoma Plaza, nestled next to Depot Park and the City bicycle and walking path. The Historic

Sonoma Plaza is home to world-famous dining, shopping, and cultural amenities, including sites important to California history, bookstores, bars, restaurants, art galleries, wine tasting rooms, and clothing boutiques.

HIGHLIGHTS:

IMPROVEMENTS:

Premium residential condominium project entitled (in process) for 31-condominium units

•

Project expected to be fully entitled for 31-condominium units by early 2024

Strong residential market fundamentals

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Demand from young professionals and seniors prioritizing quality of life; looking for well designed living spaces or pied-a-terre

32,729 square feet of residential space distributed among 6 buildings

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Mix: (20) 850-sf 1-bedroom units, (2) 800-sf 1-bedroom affordable, (4) 1,211-sf 2-bedroom units, (5) 1,857-sf 2-bedroom units with third floor view decks

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Significant common open space with pool amenity; most units have large exclusive use outdoor space

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41-parking spaces, including EV parking

Property has easement rights to a 1972 roadway through the Spanish Pueblos to the north, which will be used only as the second point of entry for fire/emergency vehicles.

Buildings will be rotated in angular fashion, which will allow more light and outdoor space

First in-fill new construction within 3-blocks of the Sonoma Plaza in decades

Light and bright functionally designed floor space

Site currently underdeveloped with office/warehouse uses and raw land

The immediate neighborhood and community as a whole have embraced the project

AESTHETICS:

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Stylistically, the proposed development emulates the midcentury modern architecture of the four neighboring singlefamily homes on First Street East.

Buildings will be low-profile, two-story structures with 5-units having exclusive third floors roof decks

5

PROFORMA Condominiums Parking Spaces LOT VALUE

31 41 $

6,995,000 Sq. Ft. 32,758

Acquistion Construction Permitting Taxes Financing Professional & Legal TOTAL COST NET PROFIT

6

$ $ $ $ $ $ $

(6,995,000) (16,379,000) (775,000) (83,940) (1,474,110) (100,000) (25,807,050)

$

Value 30,365,000

$/SF $ 926.95

$ $

(25,807,050) 4,557,950

17.7%

$500 sf $25,000 unit 1.20% 12 mo.

9.00% 12 m.

PROJECTED PRICING

7

SITE PLAN

254 FSE

SITE PL AN EXISTING MULTIFAMILY DWELLINGS

EXISTING MULTIFAMILY DWELLING

EXISTING EASEMENT

VINTAGE HOUSE

+/- 426'

10.00'

EXISTING MULTIFAMILY DWELLINGS

EXISTING MULTIFAMILY DWELLINGS

873 FIRST STREET WEST SONOMA, CALIFORNIA

707 996 2396

www.marcuswillers.com

+/- 2'-6"

BUILDING F

BUILDING E

5 UNITS

BUILDING D

5 UNITS

BUILDING C

5 UNITS

5 UNITS

EXISTING MULTIFAMILY DWELLINGS

THIS DRAWING IS AN INSTRUMENT OF SERVICE AND IS THE SOLE PROPERTY OF MARCUS & WILLERS ARCHITECTS.

4

5

6

7

8

9

10

11

12

13

15

16

17

18

19

ALL DISTRIBUTED COPIES OF THIS DRAWING SHALL BE RETURNED TO MARCUS & WILLERS ARCHITECTS AFTER THE PURPOSE OF DISTRIBUTION HAS BEEN COMPLETED.

20

21

22

23

24

25

14 9'-6" TYP.

EXISTING CARPORT

COPYRIGHT 2023

VINTAGE HOUSE PARKING LOT 297.4

'

83.1'

20.00'

EXISTING EASEMENT

24.00'

24.00'

POOL

20.00'

TRASH

+/- 5'

-6"

285.6'

26 27

40

BUILDING B 5 UNITS

28 29

150'

EXISTING RESIDENCE

30

39

31

254 1ST STREET EAST SONOMA, CA A.P.N. : 018-131-018-000

3

254 1ST STREET EAST

2

BUILDING G

1

20'-0" TYP.

ANY USE OR DUPLICATION OF THIS DRAWING OR ANY INFORMATION CONTAINED HEREIN WITHOUT THE WRITTEN CONSENT OF MARCUS & WILLERS ARCHITECTS IS PROHIBITED.

32

34 35 20.00'

25'

+/- 175'

6 UNITS

AFFORDABLE UNITS A1 & A4

36

Printed: September 13, 2023

1ST STREET EAST

SCALE: 1" = 20'-0"

37

BUILDING A

SITE PLAN - OPEN SPACE

EXISTING RESIDENCE

33

+/- 17'

EXISTING RESIDENCE

38

DATE: SEPTEMBER 14, 2023 REVISIONS:

COMMON OPEN SPACE PRIVATE OPEN SPACE PARKING LANDSCAPE

8 c

254 FSE

Marcus & Willers Architects

1

SP1.5

SITE PLAN - OPEN SPACE

PROPOSED STRUCTURE DEMOLITION

1" = 20'-0" NORTH

THE USE OF THESE PLANS AND SPECIFICATIONS IS RESTRICTED TO THE ORIGINAL SITE FOR WHICH THEY WERE PREPARED. RE-USE, REPRODUCTION, OR PUBLICATION BY ANY METHOD IN WHOLE OR IN PART IS PROHIBITED, UNLESS AUTHORIZED BY MARCUS & WILLERS ARCHITECTS. OWNERSHIP OF THE DESIGN, PLANS, AND SPECIFICATIONS IS SOLELY WITH MARCUS & WILLERS ARCHITECTS.

SP1.5 8

ZONING ANALYSIS

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10

INTERNAL COMMON AREA

11

PROGRESS PRI

FLOORPL ANS

PATIO 6' X 12'-2" STORAGE 2'-8" X 3'-6"

KITCHEN 9' X 10'

DINING 11'-9" X 15'-6"

B U IL D IN G S D, E & F

REF.

D,E,F 3 1868 S.F

LIVING 15' X 21'

ENTRY

6' X 12'

STUDY

12'-6" X 15'

8'-9" X 10'

BEDROOM CLOSET

MAIN BEDROOM

11'-6" X 12'-10"

D,E,F 2 850 S.F

NOTICE BATHROOM 7'-8" X 9'-3"

W

THIS DRAWING IS AN INSTRUMENT OF SERVICE AND IS THE SOLE PROPERTY OF MARCUS & WILLERS ARCHITECTS.

PATIO 6' X 19'-8"

HALF BATH 3'-6" X 8'-1"

CLOSET

CLOSET STORAGE 3' X 5'-8"

REF.

KITCHEN

D,E,F 1 850 S.F

8' X 8'-9"

D

PATIO 6' X 15'-8"

DINING 9'-4" X 15'

SECOND FLOOR

6' X 15'-8" c Marcus & Willers Architects

MAIN FLOOR PLAN - BUILDINGS D, E, F SCALE: 1/4" = 1' - 0"

THE USE OF THESE PLANS AND SPECIFICATIONS IS RESTRICTED TO THE ORIGINAL SITE FOR WHICH THEY WERE PREPARED. RE-USE, REPRODUCTION, OR PUBLICATION BY ANY METHOD IN WHOLE OR IN PART IS PROHIBITED, UNLESS AUTHORIZED BY MARCUS & WILLERS ARCHITECTS. OWNERSHIP OF THE DESIGN, PLANS, AND SPECIFICATIONS IS SOLELY WITH MARCUS & WILLERS ARCHITECTS.

DINING 9'-4" X 15'

LIVING 12' X 18'

- BUILDINGS D, E, F

11'-6" X 12'-2"

NORTH PLAN NORTH

DATE: NOVEMBER 3, 2023 REVISIONS:

D,E,F A1.2

CTED TO THE ORIGINAL SITE FOR WHICH THEY WERE PREPARED. RE-USE, REPRODUCTION, OR PUBLICATION BY ANY METHOD IN WHOLE US & WILLERS ARCHITECTS. OWNERSHIP OF THE DESIGN, PLANS, AND SPECIFICATIONS IS SOLELY WITH MARCUS & WILLERS ARCHITECTS.

inted: November 3, 2023

THIRD FLOOR

THIS DRAWING IS AN INSTRUMENT OF SERVICE AND IS THE SOLE PROPERTY OF MARCUS & WILLERS ARCHITECTS. ANY USE OR DUPLICATION OF THIS DRAWING OR ANY INFORMATION CONTAINED HEREIN WITHOUT THE WRITTEN CONSENT OF MARCUS & WILLERS ARCHITECTS IS PROHIBITED.

OFFICE 6'-3" X 9'-0"

ALL DISTRIBUTED COPIES OF THIS DRAWING SHALL BE RETURNED TO MARCUS & WILLERS ARCHITECTS AFTER THE PURPOSE OF DISTRIBUTION HAS BEEN COMPLETED.

D,E,F 3

SECOND FLOOR PLAN - BUILDINGS D,E,F

FIRST FLOOR

ROOF TERRACE

NOTICE THIS IS A PROGRESS DRAWING, AND IS NOT INTENDED TO BE USED FOR CONSTRUCTION OR SUBMITTAL FOR A PERMIT. THE INFORMATION CONTAINED HEREIN IS SUBJECT TO CHANGE AND SHOULD NOT BE CONSIDERED COMPLETE OR FINAL.

COPYRIGHT 2023

254 1ST STREET EAST SONOMA, CA A.P.N. : 018-131-018-000

BALCONY

1 A1.1

DATE: NOVEMBER 3, 2023 REVISIONS:

SCALE: 1/4" = 1'-0"

8' X 8'-9"

D

PROGRESS PRINT

KITCHEN

D,E,F 4 850 S.F

873 FIRST STREET WEST SONOMA, CALIFORNIA

707 996 2396 www.marcuswillers.com

254 1ST STREET EAST BUILDINGS D,E & F

CLOSET ENTRY

HALF BATH 3'-6" X 8'-1"

6' X 19'-8"

STORAGE 3' X 5'-8"

THIRD FLOOR PLAN BUILDINGS D,E,F

BALCONY

REF.

SCALE: 1/4" = 1'-0"

STORAGE 3' X 5'-8"

CLOSET

W/D

FOR CONSTRUCTION

BEDROOM 11'-6" X 13'

ENTRY

LIVING 12' X 18'

254 1ST STREET EAST SONOMA, CA A.P.N. : 018-131-018-000

HALFBATH 2'-8" X 7'-6"

D,E,F 5 850 S.F

12

ENTRY

ENTRY

STORAGE 3' X 5'-8"

254 1ST STREET EAST BUILDINGS D,E & F

8'-4" X 10'-3"

NOT FOR CONSTRUCTION

KITCHEN

15' X 21'-4"

Printed: November 3, 2023

CLOSET

LIVING/DINING

REF.

W

11'-6" X 13'

W/D

D

11'-6" X 12'-9"

BATHROOM 7'-8" X 9'-3"

BEDROOM REF.

www.marcuswillers.com

THIS IS A PROGRESS DRAWING, AND IS NOT INTENDED TO BE USED FOR CONSTRUCTION OR SUBMITTAL FOR A PERMIT. THE INFORMATION CONTAINED HEREIN IS SUBJECT TO CHANGE AND SHOULD NOT BE CONSIDERED COMPLETE OR FINAL.

ALL DISTRIBUTED COPIES OF THIS DRAWING SHALL BE RETURNED TO MARCUS & WILLERS ARCHITECTS AFTER THE PURPOSE OF DISTRIBUTION HAS BEEN COMPLETED.

BATHROOM 7'-8" X 9'-3"

BEDROOM

8'-4" X 9'-9"

11'-6" X 12'-9"

COPYRIGHT 2023

W

KITCHEN

15' X 21'-4"

873 FIRST STREET WEST SONOMA, CALIFORNIA

BATHROOM 6'-3" X 9'-0"

MAIN BATHROOM 6' X 10'

LIVING/DINING

707 996 2396

ANY USE OR DUPLICATION OF THIS DRAWING OR ANY INFORMATION CONTAINED HEREIN WITHOUT THE WRITTEN CONSENT OF MARCUS & WILLERS ARCHITECTS IS PROHIBITED.

D,E,F 3

CLOSET

BEDROOM

NORTH PLAN NORTH

NOT FOR CONSTRUCTION

BALCONY

CLOSET

BATHROOM 7'-8" X 9'-3"

CLOSET

PROGRESS PRINT

HALF BATH 4'-2" X 7'-8"

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LOCATION OVERVIEW DOWNTOWN SONOMA These 31-condominium units will be located a 5-minute stroll north of the Historic Sonoma Plaza, the heart of Northern California’s Sonoma Valley Wine Country. A year-round destination, Sonoma Valley is home to more than 100 wineries, artisan shopping, delicious dining, and state and regional parks.

Sonoma has received many accolades, including:

"Best Small Town to Visit in the U.S." (US News)

"Prettiest"

"Happiest Place in California" (Gallup Index)

"Greenest"

"Number One Wine Destination" (TripAdvisor)

"Most Historic"

"Best Town for the Holidays"

"Slowest"

"Best Small Town for the 4th of July"

"Most Romantic"

"Friendliest"

Demand for Sonoma far exceeds supply and has been exacerbated over recent years by “amenity migrants”-residents who select places to live (or have a second home) based on attractive landscapes, a favorable climate, and interesting social, cultural and tourist infrastructure, with the expectation their quality of life will be enhanced.

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SITE

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POINTS OF INTEREST 1.

Sonoma Mission

2.

Sonoma State Historic Park

3.

Vintage House (Seniors)

4.

Little League Fields

5.

Sonoma Bike Path

6.

Depot Park/Bocce/Petanque

7.

Vella Cheese Factory

8.

Swiss Hotel

9.

Girl & The Fig

10. Sebastiani Theatre 11. Community Center 12. Sonoma Museum of Art 13. Peet’s Coffee 14. Whole Foods 15. CVS 16. City Hall 17. Murphy’s Pub 18. The Patch 19. El Dorado Kitchen & Hotel 20. General Vallejo’s Home 21. Approved Luxury Hotel

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Fano Ln

Montini W y

20 Sonoma

Bike Path

Blue Wing Dr Lausen St

rosalie Dr

4

5th St W

5

SITE

3

1st St W

6

4th St W

Church St

W Spain S t

7

9

8

2

18 Son

oma

3rd St E

2nd St E

17 3rd St E

Austin A ve St

11

Patten St

y 12

4th St W

15

Ln

12

son cre ek

Barrachi W y

1st St W

E Napa St

13

Perkins

Moll Ct

21

Nathan

2nd St W

14

Oregon St

5th St W

17

10

3rd St W

Studley St

1st St E

W Napa St

Path

E Spain St

SONOMA PLAZA

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Bike

1

19 H w y 12

4th St E

Path

4th St E

Bike

a k Ln

oma

2nd St E

Son

1st St E

Claudia D r

Patten St

MARKET OVERVIEW MARKET OVERVIEW

254 FSE

SONOMA & SONOMA VALLEY: SONOMA & SONOMA VALLEY: STRONG FUNDAMENTALS S TRONG FUNDAMENTALS

In of the2022, last half onlyzip 4 Bay Area In the last ohalf onlyof42022, Bay Area codes sawzip codes saw value (according toin value increases (according to increases Zillow), and all 4 were Sonoma County, including the zip code that increased Zillow), and all 4 were in Sonoma County, the most including the zip code that increased the most – Sonoma 95476 (up 1.8%) Sonoma 95476 (up 1.8%) o “For the Bay Area, the North Bay does stand out” – Jeff Tucker, Zillow economist “For the Bay Area, the North Bay does stand out” – Jeff Tucker, Zillow economist o Why? Inventory is low, but most importantly, demand is driven by desirability Why? Inventory is low, but most importantly, demand is driven by desirability o With many tech employees working from

home, and those still going into the office With many tech employees working from begun home, toand facing uncertainty, many have those still going into the facing and uncertainty, reconsider theiroffice surroundings prioritize many have begun to of reconsider their surroundings and quality life prioritize quality of life o The need for proximity to the Silicon Valley and Peninsula has fallen The need for proximity to thepost-pandemic Silicon Valley and Peninsula has fallen post-pandemic o Demand in the North Bay is tied to natural amenities character hillsides, Demand in the North and Bay historic is tied to natural – amenities mountains, ocean, and town squares and historic character – hillsides, mountains, ocean, and town squares o Sonoma County, and Sonoma Valley in particular, still feels less densely populated; Sonoma County, and Sonoma Valley in particular, still unique within the Bay Area feels less densely populated; unique within the Bay Area o Even with the North Bay being an attractive Even with the North Bay being an attractive place to place to live, Sonoma County is still considered live, Sonoma County is still considered a “bargain” and a “bargain” and more affordable compared to more affordable compared to other counties (compared other counties (compared to the tech-heavy to the tech-heavy region of Santa Clara & San Mateo) region of Santa Clara & San Mateo)

Sonoma Valley Market Data Spring – Summer 2023

Sonoma Valley Median Sales Price 2012-2022 $1,200,000

$1,000,000

$800,000

$600,000

$400,000

$200,000

$0 2012

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254 FSE

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

22

K K F F

II

E E D D

JJ H H

C C

G G

A

B L

LL

SITE

NRO UNETO R N CU N O TN E RO M N U O TCR O TP EO U R A TC R M U TE RO R U E A P C U N EM A BC O EO LC RO PE M C A O S TM O P B R R M A LP A U M EA PRB ES A PA RLA C R E A BR A S O LBA EB LM S E LBE S LPS E ASRABLES NO TRECENT RUE CONEIGHBORHO MPARABLES OD S A LES

54oFS2E5 2o S5Eo 42F S2o 4 E5 2F4 5S 2F4 E5 SFby 4is ESFEis Smultifamily E 2surrounded 5multifamily 4by FSE ois4Fsurrounded is o5 surrounded is surrounded surrounded is o surrounded is surrounded by multifamily byisby multifamily surrounded bymultifamily by multifamily multifamily by multifamily 2 5 4 F S E o is surrounded by multifamily ndominium condominium condominium developments condominium condominium condominium condominium developments developments built developments condominium developments developments indevelopments built the built in the built developments inbuilt built the in built in the inthe in the thebuilt in the through 254FSE is surrounded by multifamily condominium developments built in1970s. the mid 1970s. e 1960s latecondominium 1960s late late 1960s late through late 1960s mid late 1960s through 1960s 1970s.

1960s through mid through through late 1970s. mid through mid 1960s 1970s. mid mid 1970s. mid 1970s. through 1970s. developments the late 1960s through mid 1970s. late 1960s throughbuilt midin1970s. ese o projects These o These oprojects oThese are oThese o projects These generally These projects are projects projects generally are projects o 2-bed, are generally These are are generally are 2-bed, generally 2-bath projects generally generally 2-bed, 2-bath 2-bed, are 2-bed, 2-bath 2-bed, generally 2-bed, 2-bath 2-bath 2-bath 2-bath 2-bed, 2-bath o These projects are generally 2-bed, 2-bath its, with units, congregate units, with units, units, with congregate units, units, with congregate with parking with congregate with congregate congregate parking units, congregate and parking pool with parking and parking congregate parking and pool parking and pool and and pool and pool parking pool pool These projects are generally 2-bed, 2-bath units,and withpool units, with congregate parking and pool menities, amenities, and amenities, amenities, sell amenities, and amenities, close amenities, and sell to and close sell and $700/sf. and sell close amenities, and to sell sell close $700/sf. sell to close close $700/sf. close to and to $700/sf. to $700/sf. to sell $700/sf. $700/sf. close to $700/sf. congregate parking and pool amenities, and sell close to amenities, and sell close to $700/sf. $700/sf. review o Aoreview ofAoproperty review oAoof A review oA property review A of review records review property ofof property oof records property of show A property property records review many show records records of records show records many property show show many show show many records many many many show many oto Aof review of property records many homes. these of these be these second of toof these be ofthese to of second these be homes. these to to second be tobe homes. to second be of second be second these homes. second homes. homes. toshow homes. be homes. second A review property records show many of these to be of these to be of second homes. eomarket The o market The o demands oThe market oThe odemands The market The market small market demands market demands format osmall demands demands The demands small format 1-bdrm market small small format small 1-bdrm small format demands format 1-bdrm format format 1-bdrm 1-bdrm small 1-bdrm 1-bdrm format 1-bdrm second homes. o The market demands small format 1-bdrm its inunits Sonoma units in Sonoma units in where units units Sonoma in units in Sonoma where in few Sonoma in Sonoma where exist, Sonoma few units where where and exist, few where inwhere Sonoma few our exist, and few few exist, few exist, and our exist, where exist, and our and and our few and our our exist, our and our units in Sonoma where few exist, and our ojected projected price projected projected per price projected projected square projected price per price square per price foot price projected price per square can per foot per square per be square square foot can square price foot be can foot foot per can be foot can square can be can be be be foot can be The market demands small format 1-bdrm units in Sonoma projected price per square foot can be sily supported easily easily supported easily easily due supported easily easily supported to supported due both supported supported to due a easily both new due to due both due a to supported due new to both to a both to new both a both new a due a new a new new to both a new where few exist, and our projected price per square easily supported due to both asmaller new oduct product premium product product premium product and product premium product smaller premium and premium premium premium and smaller unit product and smaller and size. and unit smaller and premium smaller size. unit smaller unit size. unit and unit size. unit size. smaller size. unit size. foot can be easily supported due to both asize. new product product premium and smaller unit size. premium and smaller unit size.

254254 254 254 254 254 254 FSEFSE FSE FSE FSE FSE FSE

254 FSE

23 23 23 23 2 2319

S IN G M AR KE T FOR E C AS T

MARKET OVERVIEW

ors projects the median home price to rise 6.2%

d competitive housing market will continue to put upward THE TIME IS NOW!

noma Valley, this trend will be exacerbated

For multifamily development; there’s a saying in the real estate development

THROUGH THE DOWNTURN. ge interestbusiness: rate is“ENTITLE projected to decline to 6%” We’re anddoing thethat very thing. ue to improve

For many developers and builders, there will exist a gap in the pipeline, where new projects won’t start construction for 1-3 years from now, and won’t deliver units for another 3-5 years.

WINE COUNTRY PL AZA: EALDS BOur URproject’s G timing couldn’t be better: with full entitlement approvals expect-

ed in early 2024, construction could begin by late 2024/early 2025, with units on the market within 2 years, perfectly timing the real estate cycle by delivering residential and commercial development under units into an even more supply constrained market.

om Healdsburg’s Historic Plaza

Today’s conditions will create a major hole in new supply a few years from now; ill include leading a 53-room luxury hotel, high endnew restaurant, one to conclude that come 2025, very little supply will be onand the en apartments luxury condominiums market,and especially in a supply constrained market like Sonoma.

phase in Ifmid-2022, 43-luxury new home prices are a function condominium of supply and demand,units and conservatively we hold demand relatively constant overunits, the next similar few years, operators wine country offering 1-bedroom to the entitling today may well see well above-average returns a few years from now.

FSE.

psf psf

Also important: supply reduction can only ease construction cost dynamics.

NE W PRODUC T OFF A WINE COUNTRY PL A Z A : T HE MILL DIS TRIC T IN HE A LDSBURG

The Mill District is a new luxury residential and commercial development under construction just a short walk from Healdsburg’s Historic Plaza

When completed, the district will include a 53-room luxury hotel, high end restaurant, and over 200-homes, mixed between apartments and luxury condominiums

Ground was broken on the first phase in mid-2022, 43-luxury condominium units

This is the only new product in wine country offering 1-bedroom units, similar to the majority of units offered at 254 FSE.

CU R R E NT PR I C ING FOR 1-BD RM S

792sf: $1,800,000 / $2,272/psf

908sf: $1,900,000 / $2,092/psf

While 254FSE is not part of a new branded district development, a strong case could be made that our high-end productin a premium location just off theSonoma Plaza will command atleast 50% of the price per square foot at the Mill District, when you consider Sonoma’s overall market to be comparable to Healdsburg.

ct 20

CONFIDENTIALITY & DISCLAIMER STATEMENT NORTH OF THE MISSION LLC EXCLUSIVE OFFERING This offering memorandum has been provided by North of the Mission LLC for the use of the intended recipient.

North of the Mission LLC (“NOTM LLC”) has provided the unverified information to prospective purchasers only to establish a preliminary interest in the property. Furthermore, NOTM LLC does not guarantee that the information provided herein has not changed since the date the offering memorandum was prepared.

It is the sole responsibility of the recipient to analyze, verify and conclude that the information provided herein is accurate and meets the recipient’s investment criteria. NOTM LLC, and their respective officers, directors, employees, equity holders and agents expressly disclaim any and all liability that may be based upon or relate to the use of the information contained within this Offering Memorandum.

NOTM LLC expressly reserves the right, at its sole discretion, to reject any or all expressions of interest or offers regarding the property and/or terminate discussions with any entity at any time with without notice.

NOTM LLC shall have no legal commitment or obligations to any recipient reviewing the offering memorandum or making an offer to purchase the property unless and until such offer is approved by NOTM LLC, a written agreement for the purchase of the property has been fully executed, delivered and approved by NOTM LLC and its legal counsel, and any obligations set by NOTM LLC thereunder have been satisfied or waived.

The recipient agrees that (a) the Offering Memorandum and its contents are confidential information, except for such information contained in the Offering Memorandum that is a matter of public record or is provided from sources made available to the public, (b) the Recipient will hold and treat it in the strictest of confidence, and the Recipient and the need to know parties will not directly or indirectly, disclose or permit anyone else to disclose its contents to any other person, firm, or entity without prior written authorization of NOTM LLC. ©2023 Vanguard Properties. All rights reserved. DRE License No. 01486075. Equal Housing Opportunity

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NORTH OF T H E M I S S I O N L LC

K I LBY STE N K AM P | 415.370.75 8 2 ki l by@va nguard sf.com DRE # 0 1 7 1 5 3 3 6

KELSO BA R N E T T | 707.758.380 5 ke l sogb ar nett @ g m ail.com

PO BOX 1452, SONOMA, CA 94110 95476