Broad Street Development

• BSD specializes in the repositioning, conversion, active management and ground-up development of office and residential properties in New York City. • Since 2004, BSD has acquired a portfolio consisting of four office properties (1.8 million square feet) and seven residential properties (650 units) throughout Manhattan, representing $1.07 billion in total acquisition volume. • Between 2004 and the first half of 2015, six of the eleven properties within the BSD portfolio were sold for $1.06 billion in gross sale proceeds, generating an average leveraged IRR and Equity Multiple of 34.05% and 3.52x, respectively. • Between 2015 and 2021, BSD anticipates selling the remaining five properties within its portfolio for $783 million in gross sale proceeds, generating an average leveraged IRR and Equity Multiple of 21.49% and 2.15x, respectively. • BSD's principals each have over 20 years of institutional real estate experience in acquisitions, finance, development, management, sales and leasing. During their careers, the principals have navigated three complete real estate cycles and successfully capitalized on various opportunities during each.