Grosvenor Presidio Proposal

PRESIDIO, SAN FRANCISCO

It is with great pleasure that we submit the following proposal to serve Grosvenor and support the sales and marketing efforts of its Presidio master planned community in San Francisco. The importance of this site to Grosvenor and the significance of a strong success in the San Francisco region is not lost on us. This is a significant and rare project for the city and Grosvenor and should be seen as a unique opportunity. We are excited to bring the full power, expertise, and level of service rennie has built its reputation upon to this residential development. We hope the following pages will support Grosvenor in gaining a stronger understanding of our firm’s ability to perform in US markets. You have come to know our passion for real estate and of our sincere desire to support Grosvenor at Grosvenor’s The Pacific and Grosvenor Ambleside in the capacity as your lead on sales and marketing. Should you have any questions or wish to discuss any aspect of our proposal further, please do not hesitate to reach out to myself or Bob Rennie. Thank you again for your consideration, we hope to be rolling up our sleeves with you on this exciting new community.

Bob Rennie FOUNDER

Tracie McTavish EXECUTIVE DIRECTOR

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table of contents

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WHO WE ARE

OUR FIVE PILLARS

RENNIE SERVICES

DEVELOPER JOURNEY

TRUSTED ADVISORS

OUR CULTURE

OUR SYSTEMS

OUR DELIVERY

WHAT WE DO

OUR LEADERSHIP TEAM

SUCCESS & EXPERIENCE

HOW WE WORK WITH YOU

IT STARTS WITH THE DATA

OUR MARKET

OUR GUIDING PRINCIPLES

THE ASPIRATIONAL ADDRESS

OUR APPROACH

YOUR PROJECT TEAM

MOVING FORWARD

FEES & PROJECT BUDGET

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who we are It’s a powerful alchemy of heart and mind.

It’s taking responsibility for developing a deep understanding of the market—and of our clients. Thoughtful real estate means being backed by the best systems and fronted by the best people.

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it's in the details

A trusted advisor leads with integrity and loyalty. Their thoughtfulness is apparent— not just in the many, many ways they go the extra mile and take time to truly connect—but in their considered approach, a command of the marketplace, and an unparalleled knowledge of who’s who, what’s what, and where the opportunities are. A client will only have one trusted advisor—a rare individual who has proven their quality and skill, a person they wouldn’t dream of embarking on a significant project without. Thoughtful real estate. It’s all in the details. Trust is built through time, through the demonstration of respect, of service, and of responsible advisory. We are committed to Grosvenor and your vision for Presidio, and hope to earn the opportunity to build your trust.

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WHAT GOVERNS US our five pillars

01/ the power of people

02/ thoughtful & curious

03/ working as a collective

It has and always will be everything. The power of our people is our greatest strength.

Data is nothing without insight. It’s critical to great strategy and essential to the title of trusted advisor.

What we do is complex and, when done right, harnesses the power of the collective.

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04/ sustainable future

From thoughtful service and little details to long- lasting relationships, we have been an intentional brand for decades. 05/ a respected brand

We understand our long- term investment, focusing energy on planning for the future and for our team.

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rennie services

DEVELOPER SERVICES

CONSUMER SERVICES

Our executive team has over 100 years of experience combined in real estate development. There is not a stronger team anywhere. We partner with developers across Canada and in the US to create communities by leveraging our in-house data, plus our extensive depth of knowledge and industry contacts to mitigate risk and add value to every development project. Our interdisciplinary approach includes market feasibility, project management, building and unit design, brand development, marketing strategy, sales delivery, rental pre- leasing, conveyancing, and after-care support.

With almost 175+ licensed realtors in our full- service brokerage, rennie advisors have helped connect with thousands of resale and presale sales and purchases. We provide detailed industry trend information to consumers through our intelligence and research team. Furthermore, our front line of highly trained rennie advisors are provided with ongoing training, tools and resources to ensure every consumer receives quality service, and the best advice on the home buying and rental leasing processes.

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ADVISORY SERVICES

Our portfolio services was established to provide clients with additional support in the financial analysis and feasibility of both development and commercial assets. This division works to ensure that organizations are well supported in both the development and execution of real estate strategies, tailored to the objectives of each of its clients.

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developer journey

We lead conversations. From the moment a client acquires land, rennie developer services is there: guiding product design, lending insight on data, and strategizing on marketing and sales. Through years of experience and understanding emotional intelligence, the team seems to know how to read a room, when to be the voice of reason—and how to always bring excitement to a project.

GREG ZAYADI, SENIOR VICE PRESIDENT, DEVELOPER SERVICES “

WHAT’S A TYPICAL DAY IN DEVELOPER SERVICES?

WHY IS RENNIE WHAT ROLE DOES CREATIVITY PLAY IN WHAT YOU DO? We’re in the boardroom to entertain and to draw out ideas, creativity, and fun as much we are to provide our insight and data. We look to bring energy, excitement, passion, and knowledge to help guide the conversation and bring the creativity out of our clients.

Days start at 6am, checking emails, breakfast about 7:30—always with someone—then meetings and envisioning sessions with designers, interior designers, architects, and sales teams. Our days are based in boardrooms, coffee shops, and restaurants.

WHY IS RENNIE SUCH A POWERFUL PARTNER?

YOU SEEM TO USE THE WORD ‘FUN’ A LOT.

We have just about everyone in the industry on speed dial. We’re working with more people on more projects and that volume of information, that diversity of creativity and ideas is what adds value to our clients. And then we make sure we have kick-ass agents.

We’re successful because we’re having fun. We get to learn from smart and amazing people and have a hand in the growth of one of the best cities in the world. If you’re going to do anything in Vancouver, why wouldn’t you want to be in real estate?

phase I

phase II

phase III

SENIOR LEADER

SENIOR LEADER Sales Director Project Manager Intelligence

SENIOR LEADER Sales Director Project Manager Project Coordinator Intelligence

SENIOR LEADER Project Manager Project Coordinator Intelligence

SENIOR LEADER SALES DIRECTOR PROJECT MANAGER Conveyance Manager Project Coordinator

SENIOR LEADER SALES DIRECTOR PROJECT MANAGER Conveyance Manager Project Coordinator Intelligence

SENIOR LEADER PROJECT MANAGER SALES DIRECTOR Conveyance Manager

SENIOR LEADER PROJECT MANAGER SALES DIRECTOR CONVEYANCE MANAGER

our team

Intelligence Technology

launch

acquire

plan

design

approve

market

sell

build

complete

DEVELOPMENT SUPPORT

›

Provide market intel on site acquisition/new opportunities Early proforma inputs for revenue and costs

Support site planning and product decisions Advise with supplier / consultant selection

Support suite mix, sizing, and amenity decisions Input on architecture, interior design, and spec

Support in municipal approval process

MARKETING & SALES STRATEGY AND EXECUTION

›

Envisioning

Competitive market analysis Target buyer market analysis Marketing draft budget PC location planning

Product positioning Finalize brand marketing strategy Price Tower (version 1) Signage creation Collateral development Build database

Sales strategy Web development Ad design

Price approval Events

Price Tower (version 2) Launch events

Begin sales Reporting Review and tweak campaigns

Outfit PC with graphics Media buy implemented PR/events planned Previews begin Support staff training File disclosure statement

rennie tools

CONVEYANCE & PURCHASER MANAGEMENT

›

Introduction to conveyance process Review of disclosure statement Draft contract addenda

Implementation of sales contract, addenda, FINTRAC & Real Estate Council of BC Agency and Disclosure Forms

Salesforce & contract management Reporting on contract & consumer data

Distribution & tracking of disclosure statement amendments Deposit notification & collection

Parking and storage allocations Delivery of legal documents & contracts Distribution of formal completion notice

Reporting on contract & consumer data continues Payment of first half of commissions

DELIVERABLES

›

Stats pack Envisioning pack • session response rennie roadmap

Envisioning pack • plan/design • brand/position Revised rennie roadmap

Price tower & CMA Finance package • strategy • positioning • plan

CMA DB tracker

Monthly report Daily report

Retrospect

we are trusted advisors

Every day, the way consumer services works with our resale clients defines thoughtful real estate. Their work with their clients comes from a place of deep and careful listening to long-term goals and dearly held dreams. Every member of the team is a great realtor, but an unlikely combination of solid data and genuine caring elevates each of them into something much more: a trusted advisor. In everything we’ve done, what we’re most proud of is our team of trusted, committed, and respected advisors. Day after day they set the bar higher, for themselves, for each other, and for our whole industry. They are great realtors and great humans, and the proof is in our clients’ smiles and peace of mind. As we grow, so does our power to make a positive impact in our community. And there’s no one we’d rather have at the front lines, paving the way for our brand and a new era of real estate.

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“ BOB RENNIE, FOUNDER I can't be me, unless I let you be you .

What we hear most about our culture is that there’s a good feeling in these walls that you can’t quite put your finger on. All we know is that we genuinely like and respect one another and follow Bob’s long-time golden rule: bring your whole self to work and accept that everyone else is doing the same.

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the systems behind the service The archetype of our company is the Japanese consigliere, one who stands by our client, supporting and problem-solving together, all of us united in helping our clients reach their goals. We are a collective of different disciples, grateful for one another’s expertise, as we each share our own. Marketing helps us shine. Intelligence takes mountains of data and asks the right questions of it, so analysts and strategists can make the informed recommendations that lead our clients to great decisions. We’re building relationships with developers and creating powerful strategy, along with inspiring sales centres, rock solid conveyancing, and sound financial planning. And everything is backed up by the systems and processes that make us better, stronger, and faster. We have and continue to invest in the systems and technology necessary for tomorrow's market. This means the creation of an enterprise level platform to harness the insights created by a consumer database 140,000 persons strong. We think constantly of the consumer journey: how to serve, communicate, and manage each relationship and every transaction. You’re never on this journey alone. There may be tough moments, but always remember: we’ve all got your back.

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“ JENNIFER PODMORE RUSSELL, SENIOR VICE PRESIDENT, OPERATIONS We realized a long time ago that we are all connected by a common objective: to serve, elevate, and better others. What wakes me up in the morning is thinking about what we can do and build to empower others and elevate our work. I believe the secret lies in our ability to harness data and discover insight, ultimately giving back more time to focus on what matters.

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systems & services

We support good humans to achieve great results. By underpinning our organization with technology, process born from common sense, and leading our insights with the data, we afford ourselves the ability to focus on strategy and execution.

advisory services

developer services

consumer services

SYSTEMS

sales

marketing intelligence finance

people

conveyance technology

The service we deliver to our clients is supported by a systems team of nearly 100 people. In thinking through the systems that underpin our business, we ensure that Grosvenor has the technical expertise at each phase of the communities lifecycle, including dedicated team members not only for sales and marketing but also for conveyance and all transaction support.

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how we think

We believe rennie is uniquely suited for consideration of this appointment.

Presidio is a community that will take shape over the next 10 years. With rennie, you are supported by an organization built to power future development. We consider our systems and services to be an extension of your organization. As part of our initial engagement, we will collectively establish our journey for Presidio and will capture our objectives within the rennie roadmap—a living and evolving project document. We will ensure Grosvenor is provided with access to real-time reporting and data alongside the most relevant intelligence studies and market analysis through the proprietary rennie desk. We have had and will continue to look for opportunities to integrate our Salesforce platform into the Grosvenor portal and will ensure the benefit our continued investment is provided to Grosvenor. Grosvenor has the underpinning of a CRM powered by Salesforce and deep financial and transaction reporting curated by real-time analysis of Tableau. Digital contracts and access to all product data and assets are on the rennie desk.

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people

platform

product

desk

process

roadmap

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our delivery

strategy

WE SPECIALIZE IN PROVIDING AN OMNICHANNEL APPROACH by aligning our clients' business objectives with our rennie intelligence insights, data, and our vast experience to develop and execute the best marketing and brand strategy for each project. Using this system, our project managers see the results of their marketing efforts immediately, providing them the ability to be extremely responsive in their marketing decisions and strategies. OUR INTELLIGENCE DIVISION provides analysis, insight, and strategy both internally to the rennie teams and to our development partners, as well as externally to the broad range of clients. The most fundamental aspect of this division at rennie is conducting objective, innovative, and publicly-available research. intelligence & research OUR TECHNOLOGY TEAM HAS CREATED A CONSUMER-DRIVEN WEBSITE to support interaction with sales advisors, both here and in the US, resulting in the collection of immense and detailed consumer data. Our platform supports over 300 sales advisors and professionals across North America who manage a collective total of over 3.5 billion annual transactions. We understand how and what consumers look for when searching for property. technology

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OUR FULL-SERVICE CONVEYANCING TEAM offers contract vetting, deposit collection, customer after care, and more to ensure a seamless property transaction. sales support THIS COMPREHENSIVE IN-HOUSE SYSTEM offers unparalleled real-time reporting, as well as access to provide clients with real-time data on sales centre visits, database numbers, website visits, eblasts results, and more. reporting OUR SKILLED MARKETING PROJECT TEAM is adept at branding, positioning, and communication, while ensuring projects are produced on time and on budget by orchestrating suppliers and partners to fulfill our clients' vision. With in-house digital and print advertising specialists, we are able to offer clients integrated marketing campaigns. execution

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“ KRIS RENNIE, PRESIDENT Working together from the disciplines and experience of our leadership team—creating connectivity and insights through data and technology— we will continue to deepen our service offering for the success of our clients.

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WHERE WE SPEND OUR TIME AND INVEST TO SERVE OUR CUSTOMERS & CLIENTS what we do

01/ intelligence

02/ salesforce

03/ technology

To be an informed organization, capable of delivering expert advice. The rennie intelligence division powers our understanding of the region and the aspects that drive demand for housing. Through their reports and constant bespoke analysis on the market, the consumer, and the economy, we are able to make decisions based on data.

In pursuit of one version of the truth, our journey continues. We have established an unrivaled consumer database capable of providing us with hundreds of thousands of datapoints weekly on consumer sentiment, allowing us to translate consumer insights into strategies.

Developing a platform supportive of the consumer journey that ensures we’re always in the room. The rennie desk is your single portal to the roadmap, strategy reporting, and up-to-date conveyance activity.

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Our commitment is to be trusted leaders and authentic storytellers in how our developer clients build communities and their own brands. 04/ storytelling

05/ people

Always and at every turn, we elevate the people who form our collective, the developers who trust us, and the consumer who we remember always has a choice.

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our leadership team

Kris Rennie PRESIDENT

As president, Kris oversees the overall vision and trajectory of rennie, working closely and collaboratively with our executive and leadership teams. In 2003, early on in his real estate career, he established rennie’s first branch-out division, consumer services, and led its steady continual growth of four to 175+ advisors today. Since then, Kris has led the way in diversifying rennie’s comprehensive service offerings across its now three divisions: developer, consumer, and advisory services. He continues to invest resources in the growth of the company’s systems platform, driving the vision of how data, technology, and connectivity, shared throughout the organization and delivered to our clients, will continue to underpin deeper insights and refine strategy, leading to rennie's continued success.

Bob Rennie FOUNDER

Bob is recognized for his leadership in envisioning new and innovative strategies in development risk management and real-estate marketing. Key landmark projects include the restructuring of the Olympic Village and Woodward’s—a visionary development that integrated market and non-market housing, commercial users, and Simon Fraser University’s new downtown presences. Bob has curated a team of experts in the field of real estate and development, who focus on strategy, visioning, research, consumer intelligence, and project execution. Bob maintains strong relationships with stakeholders at every level of government and assists in facilitating critical and strategic conversations concerning the real estate industry.

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Tracie McTavish EXECUTIVE DIRECTOR

Greg Zayadi SENIOR VICE PRESIDENT, DEVELOPER SERVICES Greg Zayadi brings more than 20 years of experience in Western Canadian real estate and development, including his collective seven years at rennie. He has worked with some of Vancouver's top developers, including Onni, Concord, and Anthem Properties, where he led the company's growth from 2010 through his participation in all aspects of acquisition, design, development, construction, and management of residential and commercial assets. He has successfully brought nearly 15,000 condominium units and 12-plus master planned communities to market during his career, often managing multiple stakeholders within complex partnership structures. His ability to work seamlessly with multiple stakeholders and his deep knowledge of the Vancouver real estate market make Greg a valuable presence at any boardroom table. Tracie is recognized throughout the industry for his disciplined and experienced approach to project positioning, visioning, and execution. Through the course of his career he has successfully envisioned, positioned, and transacted more than 25,000 residential homes on behalf of many of the industry’s most notable leaders, predominately throughout Western Canada. Tracie is well known for his role in the development of the Concord Pacific lands along False Creek, having led significant components of the project’s master plan, the subsequent transaction of more than 4,000 condominium units, the positioning and lease up of commercial properties, as well as the contribution and improvement of major community amenities, such as David Lam Park, the restoration of the Roundhouse Community Centre and the completion of social housing. His skillset is called upon regularly to mitigate the substantial risks associated with master planned communities, and he is frequently asked to lend his perspective and experience during the development process.

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Jennifer Podmore Russell SENIOR VICE PRESIDENT, OPERATIONS

Jennifer has earned a reputation within the industry for her ability to craft, articulate, and execute complex real estate strategies. Over the past decade, she has successfully built and managed a real-estate consultancy that focused on disseminating information and analytics into actionable intelligence for clients in both the public and private sectors. Jennifer brings an invaluable combination of skillsets, including her network of real-estate-industry professionals, her ability to analyze and assess land valuation, her understanding of deal structures, and her ability to map strategic transactions. Most notably, Jennifer is called upon by key industry and public sector leaders to assess risk and structure real-estate transactions in a manner addressing the often competing priorities of certainty, risk mitigation, ownership and, of course, value extraction.

Vincent Tang VICE PRESIDENT, CONSUMER SERVICES

During his 20-year tenure at rennie, Vincent Tang has worked his way up the ranks from project assistant to his current role as Vice President of the consumer services division. He oversees the daily operations of the brokerage and supervises our team of realtors, known as advisors, ensuring rennie provides the best services available in the real estate industry. One of two original realtors at the brokerage, he has witnessed—and influenced—the brokerage’s growth to its current 175+ agents. Tang has also held the distinction of multi-year qualification for the REBGV’s Medallion Club, which honors the top 10 per of all Metro Vancouver realtors.

Andrew Ramlo VICE PRESIDENT, ADVISORY SERVICES

As Vice President of intelligence, Andrew leads rennie's intelligence division, providing analytical and strategic support to all aspects of the company. For more than two decades, Andrew has provided strategic management advice to leading real estate developers, investors, retailers, and consumers, as well as to many of Canada’s most rapidly changing municipalities, crown corporations, and public agencies. In his role as Executive Director of the Urban Futures Institute, he conducts research on topics ranging from labour force change and human resource management to community planning and residential market analysis. Andrew also provides intelligence and analytical support throughout the development process.

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Peter Edmonds VICE PRESIDENT, MARKETING

As Vice President of marketing, Peter leads the developer services and brand teams in everything marketing and brand. After beginning his career working agency-side in advertising-communications on numerous global and national consumer brands, Peter made the move in to working in-house for some of Western Canada’s leading developers. For almost 15 years, his real estate development project teams have come to count on him for market-leading strategy, creative excellence, and a collaborative spirit—all rooted in a sense of possibility and high performance. With a clear view of the real estate development practice as a risk-removal exercise, Peter has led the marketing efforts of projects ranging from small-scale to master plan, including every product type in major markets throughout the west.

Ryan Berlin SENIOR ECONOMIST, INTELLIGENCE

As Senior Economist in rennie’s intelligence division, Ryan provides insightful market research and analysis to rennie’s corporate leaders, portfolio clients, and realtors (known as rennie advisors). For the past 15 years, Ryan has worked closely with many of British Columbia’s most successful organizations in real estate, retail and finance, as well as many of Canada’s more forward-thinking municipalities, regional governments, and crown corporations. Ryan presently serves as the Chair of the Association of Professional Economists. His adept marketplace assessments and forecast make him a trusted and valued resource.

Darrell Koopmans DIRECTOR, TECHNOLOGY

As Director of technology, Darrell leads the technology division, overseeing the organization's strategic direction and infrastructure of technical operations. He drives a team of project managers, developers, quality assurance, and IT professionals to build and maintain a valuable technology platform with a suite of products for clients, consumers, and internal divisions throughout rennie. His previous experience spans over 17 years in the real estate industry, within the disciplines of technology, development, and design. Prior to rennie, Darrell made a successful exit at a Vancouver-based real estate start-up, where he was both co-founder and Vice President of creative. Darrell is also a Director of a not-for-profit cafe in Squamish, which provides a comfortable space for locals in the community.

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success & experience

THE VILLAGE ON FALSE CREEK - PROJECT SUMMARY

From when our team was engaged in the initial team to plan and envision the lands in 2005, until the turn of the final key in 2015, rennie endured as a trusted advisor to one of Vancouver's seminal urban villages. Home to the 2010 Olympic and Paralympic Athletes’ Village, The Village on False Creek is now a landmark waterfront community in Vancouver. Overcoming obstacles during the eight years of selling the Village, the project changed hands beginning with Millennium Group, then into receivership and finally landing with the Aquilini Group. During this time, rennie was resilient and continued to support in making sure that this project was a success. This mixed-use community is known for its beautiful seawall, iconic address and architecture, and abundant amenities.

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KING GEORGE HUB - PROJECT SUMMARY

King George Hub’s story comes from an undefined area in Surrey’s City Centre, and now stands as one of the most successful mixed-use projects selling over 400 homes in two months. Consisting of six towers and over 760,000 square feet of retail, PCI partnered with rennie to help navigate and create a new amenity-rich community, leveraging the convergence of rail transit, retail, office, and residential homes. This vibrant energy centre will continue to shape Surrey’s skyline and create Metro Vancouver’s next downtown.

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success & experience

GROSVENOR AMBLESIDE - PROJECT SUMMARY

Grosvenor Ambleside’s legacy is rooted in the established community of West Vancouver’s Ambleside water front address and now stands as one of the most successful mixed-use projects achieving the reputation as one of the most exclusive residences in the region. Ambleside has become as a new hub for social interactions—bustling commercial and entertainment district. Consisting of two buildings with a collection of 98 unique residences, Grosvenor committed themselves to realize and deliver a world-class project with unmatched views and class-leading attention to detail. Seven years ago, rennie and Grosvenor started the journey together. Collectively, the team helped define the preeminent address for West Vancouver and position Ambleside as a worthy home for the global citizen looking for the quintessential Vancouver lifestyle. Today, Ambleside I is sold out and occupied, and Ambleside II is soon to complete, the two buildings stand as a testament to the vision and commitment of two dedicated partners.

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how we will work with you

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it starts with the data what we are watching At rennie, we believe our enthusiasm is justified because it is underwritten with data. We ensure each of our client's decisions are data-backed and insight-driven.

01/ economy

02/ demographics

• job growth • unemployment rate • job vacancy rate • wages • consumer price inflation

• population change • components of population change (including migration) • origin/destination of migrants • population change and housing demand

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• Federal Funds Rate • 5 year government bond yields • mortgage rates 03/ interest rates

04/ housing

• resale: sales, inventory, pricing • presale: launches, absorption, pricing • construction: status, under construction inventory, completions, completed and unsold

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our market

looking forward for the San Francisco metro region

POPULATION GROWTH IN SAN FRANCISCO ›

5.0

4.0%

3.5%

4.0

3.0%

2.5%

3.0

4.68

4.32

4.38

4.45

4.51

4.59

4.65

4.73

2.0%

1.7%

2.0

1.5%

1.0%

0.9%

1.0

0.5%

0.79

0.84

0.86

0.82

0.80

0.83

0.85

0.81

0.0

0.0%

2010

2011

2012

2013

2014

2015

2016

2017

SAN FRANCISCO METR

SAN FRANCISCO CITY

SOURCE: AMERICAN COMMUNITY SURVEY

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› PEOPLE & HOUSING IN SAN FRANCISCO: 2015 TO 2040

ADDITIONAL POPULATION: . MILLION AV. ,YEAR

ADDITIONAL HOMES: , AV. ,YEAR

SOURCE: METROPOLITAN TRANSPORTATION COMMISSION

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UNEMPLOYMENT RATE ›

0.1

5.4%

0.1

4.1%

4.0%

0.0

3.1% 3.1%

0.0

2.1% 2.2%

1.8% 1.8%

0.0

PAST YR AVG

LAST YEAR

CURRENT

CALIFORNIA

SAN FRANCISCO METRO

SAN FRANCISCO CITY

SOURCE: BUREAU OF LABOR STATISTICS

INDEXED AVERAGE ANNUAL EARNINGS ›

0 1.30 1.20 1.10 1.00 1.40 1.50 1.60 2.00 1.70 1.80 1.90

1.94

1.66

CALIFORNIA

SAN FRANCISCO COUNTY

SOURCE: BUREAU OF LABOR STATISTICS DATA: 2001 = 1.00

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2018 AVERAGE EARNINGS, BAY AREA COUNTIES ›

$160,000

$134,664

$140,000

$126,411

$118,442

$120,000

$100,000

$80,000

$68,478 $69,004 $72,662 $76,228

$54,653 $55,640 $58,642

$60,000

$40,000

$20,000

YR AVG ANNUAL CHANGE

3.8% 3.4%

3.1% 3.7%

2.5% 4.1%

3.7%

6.7%

4.1% 6.4%

MARIN ALAMEDA SAN

SAN MATEO

SANTA CLARA

SONOMA NAPA SOLANO CALIFORNIA CONTRA COSTA

FRANCISCO

SOURCE: BUREAU OF LABOR STATISTICS

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NEIGHBOURHOOD COMPARISONS: SAN FRANCISCO ›

PROJECT SITE

MLS CONDO MEDIAN $

Presidio Heights

$2.3m $1.9m $1.8m $1.5m

Marina

Cow Hollow

Pacific Heights

SOURCE: REDFIN

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our guiding principles

01/ ambassadors of the Grosvenor brand 02/ bring the Grosvenor standard into the neighbourhood 03/ contribute to the community

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the aspirational address

A VISION...

architecture global legacy status prestige

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about Presidio

We are excited about being part of this proposed master plan project that will provide a reimagining and further enhancement of the Presidio neighbourhood. Our team will prepare a detailed and comprehensive overview of relevant demographic, economic, and development trends that will be included as part of our intelligence report. Additionally, we have real-life data of the market through our local contacts in San Francisco. Data and market intel will help formulate our strategies for product design and marketing strategies in all stages of the development and sales process. This is where the over-used rennie adage of “we are all entitled to our own opinion, however none of us are entitled to our own facts” comes into play. At rennie, we believe it is especially critical to support the design and early development stages of a master plan community. Our thoughtful approach seeks to craft a network of homes, services, and a neighbourhood energy centre to function in harmony—not just with each other, but also with the historic community in design and in culture. We want to work alongside the Grosvenor team to ensure that the project envisioned most accurately captures the market interest and demand. We feel that the early intervention through debate and analysis and demographic targets will ensure success. These early decisions will assist in creating the very best metrics of profitability but, more importantly, this is where we see our role in this stage as mitigating risk. As your Vancouver team has already experienced rennie’s collaborative approach, we would like to bring the same early decision-making and collaboration to the Grosvenor San Francisco team, demonstrating and delivering another site-specific, well- designed community created to satisfy and address an identified demand of a region that is properly positioned and timed to market needs. Our goal is to bring the discipline of Vancouver and our collective experience to enhance the consumers’ experience at every touch point they have with Presidio.

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our approach

We provide expertise, strategic leadership, execution, and support through the entire master planned development process. We believe that Presidio will set a new blueprint for aspirational master plan communities.

INSIGHTS Our role is to help provide valuable insight and information to guide the creation of the new community. Our duty is to be the voice of the consumer to identify the key needs and desires of the potential buyer. Powered by data and real-time, on-the-floor insight, we help shape the vision of the development and ensure that the project and all its phases meet the needs of the public.

LONGEVITY We are committed long-term to be an advisor through the lifespan of the project. We expect a master plan community of this scale will require 10 years of persistent planning, strategizing, and execution. We will provide a comprehensive and ever- evolving roadmap that will help navigate the project, while providing support to various consulting teams and addressing the complexities and nuances that a long-term development will inevitably face.

THOUGHTFULNESS The large scale of the development requires a thoughtfully-planned and designed identity. The initial branding and naming of the community will aid in establishing a long-tern vision, but we also realize that importance of being flexible and responsive to each product phase and changing market conditions; our branding and positioning will account for this.

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EXPERIENCE Our committed group of 100 industry professionals at head office will carry the responsibilities to get this community to market and present the project in front of buyers. We provide all the necessary marketing and sales systems and infrastructure, providing management, conveyance

CONNECTION We believe in good

collaboration and strong relationships. Whether the relationship is between home buyer and advisor, development team and consultants—or even between marketing and sales—we operate as a team. Our teams are dedicated to bringing their experience to the table and work alongside one another with respect and thoughtfulness applied to all aspects of their work. Each team will execute, reflect, refine, repeat, and report at every stage of the journey.

support, and real-time reporting through our Salesforce system.

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developer journey

PLANNING AND DESIGN

To begin, rennie will initiate a project kick-off meeting in order to align all team members and related parties on the project and determine how best to proceed forward. We believe this first stage of work will identify key requirements and data requests to guide further planning and design. Our intention is to ensure we are aligned with the outcome and efforts of the wider team from day one. KEY ACTIVITIES • Meet with Grosvenor and stakeholders to identify high-level goals, concerns, and opportunities • Develop a timeline for delivery of services that specifically fulfills the needs identified • Build a rennie team that aligns with the project’s unique positioning and leverages rennie’s depth of experience with master plan communities • Documentation of key objectives and opportunities to act as guiding principles for follow-through of each project elements

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INTELLIGENCE

After the project kick-off meeting, the rennie intelligence team will be available to undertake market research and supplementary information gathering for our general assessments of the market as it pertains to this specific property. The following is a summary of the factors that could be considered as part of the market assessment for this project. DELIVERABLES • Demographic changes (historical & projected where feasible) • Housing demand trends

• Federal, regional, and local dynamics • Relevant policy and regulatory changes • State, region, city • Resale market conditions and trends • Presale market activity

PRODUCT DEVELOPMENT

Based on the intelligence data gathered, rennie will provide a hosted product envisioning session with the Grosvenor team and key consultants. KEY ACTIVITIES • A hosted product envisioning session prepared by rennie with insight and collaboration from key consultants and the development team • Specific recommendations for the following product elements based on the proposed target market • Product mix and massing including housing types guided by demand and pricing considerations • Use considerations including the inclusion of commercial uses, amenities, and community facilities if applicable • Strategic density and green spaces

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PRODUCT DESIGN GENERATION

As the planning process evolves rennie will initiate all marketing strategy efforts. This will happen concurrently with all sales efforts; however, in order to better articulate key actions we have outlined our efforts separately: KEY ACTIVITIES • Support site planning and product decisions—rennie will join Grosvenor at key design meetings for the property. We will ensure we are supporting these critical design meetings with market and consumer insight and a current working knowledge of the competitive landscape • As necessary, advise on supplier/consultant selection • Provide ongoing input on interior design, specifications, and amenity planning • Provide, as necessary early stage communication strategies (site signage, landing webpage, early registration etc.) as they should be aligned with the consultation process, community outreach, and support the development application process • Provide ongoing market data and analytics to support and inform the design process • Market monitoring and competitive reviews with facilitated discussions as needed with the development team

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MARKETING

As the planning process evolves, rennie will initiate all marketing strategy efforts. This will happen concurrently with all sales efforts; however, in order to better articulate key actions, we have outlined our efforts separately: KEY ACTIVITIES • Ongoing market analysis and competitive reviews • Provide input on the selection of consultants (graphic design, web etc.) and as requested manage the solicitation of proposals through the rennie RFP process • Plan and facilitate an envisioning session for the development and as an output of the session develop a project roadmap (strategy), critical path, and updated marketing budget • Develop traditional media, digital media, and communications strategy for the project aligned with sales objectives and targets • Plan and execute PR and project events leading up to and following the launch of the project • Monitor ongoing performance of the development and revise marketing strategy as necessary DELIVERABLES • Envisioning session collateral

• Project roadmap • PC location plan • Media and communications plan • Progress updates • Continued market review and competitive analysis

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SALES

Running concurrently with marketing efforts, we will develop and execute on a sales plan specifically created for this property. KEY ACTIVITIES • Create a channel strategy and associated budget, to be integrated into the critical path • Develop a draft price tower and initial product pricing strategy for discussion and iteration with the Grosvenor team • Assemble and recommend a sales team for approval by the Grosvenor team • Develop a sales training plan and project book inclusive of all necessary documentation, market intelligence, and site details for the use of the sales team • Finalize pricing and optimize revenues through the duration of the sales program • Launch the sales program which may include realtor outreach, CRM management, unit management, MLS strategy, previewing etc • Ongoing market reporting and analysis • rennie is prepared to provide permanent, local sales and marketing staff. In addition to contribution by Grosvenor trained, Vancouver sales support, we have localized sales staff that are committed to this development. We have identified not only the importance of “Grosvenor” quality sales and marketing, but also the need for local acceptance of sales initiatives • Grosvenor can continue to expect our ability and commitment to delivering local experience and expertise. As we have proven together, at Ambleside and The Pacific, success is born from our ability to meet the marketing where they are, to understand the local nomenclature and traditions to preset a truly authentic offering DELIVERABLES • Updated strategy documentation • Pricing towers and associated analysis • Daily reporting on activity (pre and post launch) related to traffic, registrations, sales activity and contract status

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CONVEYANCE & AFTER SALES SUPPORT

All aspects of the conveyance process are managed by rennie, staying in regular contact with the Grosvenor team and its home buyers, we guide them through the closing process to promote repeat business, brand loyalty and most importantly home owner satisfaction. KEY ACTIVITIES • In advance of launch, we will review the Disclosure Statement and related documentation as it relates to the sales process and training • Our dedicated Conveyance team will review all contracts and addendums • Data collection and reporting to the Grosvenor as it relates to purchaser analytics • Delivery and tracking of all legal documents to the home owners and ongoing communications with the same team throughout the build out process • Deposit collection • Assignment of parking and storage as necessary • Oversee the completion of each unit with Grosvenor and legal counsels • Based upon finalized service agreement, rennie may manage the payment of commissions to outside agents on behalf of Grosvenor

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your project team the people dedicated to your success

As our client you will have the support of the entire rennie team, as well as a dedicated project marketing team to manage and execute the sales and marketing strategy.

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executive director BOB RENNIE

senior project lead TRACIE MCTAVISH

PROJECT COORDINATOR

DIGITAL MARKETING COORDINATOR

project manager

ADVERTISING COORDINATOR

SALES MANAGER

sales director

SALES TEAM

SALES COORDINATOR

conveyance director contract coordinator

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moving forward together

It is rennie’s priority to serve Grosvenor at every stage of the process, whether it is working with architects on building design to the final turn of the keys with your homeowners. The below outlines key stages of the development life cycle for the Presidio property and our involvement at each milestone. Recognizing initial design and massing has occurred, rennie is available to enhance the current stage of the development process.

START

tbd

TEAM INITIATION Initial alignment and development of understanding market conditions and vision for project’s direction.

PROJECT KICK OFF A fact-finding initiative facilitated by rennie across all relevant teams to determine high-level goals and future direction of the project, in order to optimize Phase 1 deliverables.

PRELIMINARY INTELLIGENCE MARKET REPORT

Our synthesis of market research and supplementary information gathering for our assessments of the market and implications for the project.

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phase one – community planning, design and story telling

tbd

PLANNING & DESIGN ENVISIONING We provide expert

ROADMAP & COMMUNITY STRATEGY An updated, in-depth assessment of specific market variables most relevant to the project, tailored to the decisions resulting from the Community Envisioning session. Development of a strategic path for Presidio articulated within a roadmap pathing our approach to the community branding and storytelling, which will underpin each phase and component of the development.

consultation in the earliest stages of your development to support land purchase, building design, and suite mix decisions to ensure a match with market conditions and buyer demand.

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moving forward together

The master brand of the community will anchor each subsequent phase of the development. Following our collective efforts to establish the community, we will repeatedly work to bring forward the various phases of the community, always repeating these key activities.

2020

tbd

PRODUCT AND BRAND ENVISIONING Envisioning initiative facilitated by rennie to discover key KSFs for the project and gain alignment with all creative consultants.

MARKETING COLLATERAL DEVELOPMENT Create, produce, and develop marketing collateral and Presentation Centre for storytelling and education.

MARKETING STRATEGY & EXECUTION We align your business objectives with industry research, data, and our vast experience to develop and execute the best marketing and brand strategy for your development project.

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FINISH

tbd

SALES STRATEGY & EXECUTION With local on-the-ground advisors working with us, we provide you with an experienced and knowledgeable sales team.

CONVEYANCE & AFTER-SALES SUPPORT All aspects of the conveyancing process managed by rennie, staying in regular contact with your buyers, and guiding them through the closing process to promote repeat business and brand loyalty.

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fees & project budget

OUR FEES

We work to align our compensation to reflect both the realities of development and project finance, but also to ensure we are tied to your success. A non-recoverable fee of $15,000 per month starting 18 months from scheduled launch for execution services for marketing will be charged to Grosvenor. Post-launch, a $25,000 monthly fee will be charged but credited against closing commissions. A Marketing and Sales fee of 2.0% base fee per sale will be applied, of which 25% is payable upon firm, 25% payable upon construction commencement, and 50% balance upon completion.

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