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“ Osborne” synergy

Chandan Singla: Kyungwon Kim : Sean Lee : Vipasha Dasgupta. “ Osborne” synergy. MARKET RESEARCH o PROGRAM o FINANCIAL ANALYSIS o DEAL o DESIGN. Market Research. MARKET RESEARCH o PROGRAM o FINANCIAL ANALYSIS o DEAL o DESIGN. MIT Requirement.

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“ Osborne” synergy

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  1. Chandan Singla: Kyungwon Kim : Sean Lee : Vipasha Dasgupta “Osborne” synergy MARKET RESEARCH o PROGRAM o FINANCIAL ANALYSIS o DEAL o DESIGN

  2. Market Research MARKET RESEARCH o PROGRAM o FINANCIAL ANALYSIS o DEAL o DESIGN

  3. MIT Requirement MARKET RESEARCH o PROGRAM o FINANCIAL ANALYSIS o DEAL o DESIGN

  4. OUR PROGRAM MARKET RESEARCH o PROGRAM o FINANCIAL ANALYSIS o DEAL o DESIGN

  5. FAR • Program Summary • FAR: 3.52 (including Shire building), otherwise 3.12 MARKET RESEARCH o PROGRAM o FINANCIAL ANALYSIS o DEAL o DESIGN

  6. Financial Analysis • Assumptions • NPV@8.0% : $325 million MARKET RESEARCH o PROGRAM o FINANCIAL ANALYSIS o DEAL o DESIGN

  7. Developer MIT Land: $325 M Cash: $20 M LLC Equity Partner $345 M The project Deal Structure • Forms of entities • MIT holds the ownership of the land • For sales properties, MIT has the first right of purchase & refusal after 75 years of time period (for lease properties, 10 years) • Equity partner and the development split returns pari passu until they reach 12% of the hurdle rate. After that, they go 50:50 for promote Within LLC, MIT and developer split 90:10. Equity: 35% Debt : 65% MARKET RESEARCH o PROGRAM o FINANCIAL ANALYSIS o DEAL o DESIGN

  8. DESIGN CONCEPT • SYNERGY • Weaving the development in the fabric of the community • Be sensitive to the community – since MIT is a partner to the Cambridge communities • Create a vibrant community MARKET RESEARCH o PROGRAM o FINANCIAL ANALYSIS o DEAL o DESIGN

  9. Neighborhood TECH SQUARE, MARRIOT RESIDENTIAL R&D & RETAIL R&D OFFICES & RETAIL INSTITUTIONAL MARKET RESEARCH o PROGRAM o FINANCIAL ANALYSIS o DEAL o DESIGN

  10. MARKET RESEARCH o PROGRAM o FINANCIAL ANALYSIS o DEAL o DESIGN

  11. MARKET RESEARCH o PROGRAM o FINANCIAL ANALYSIS o DEAL o DESIGN

  12. Retail gateway -- Subway exit /People/Retail/Food court MARKET RESEARCH o PROGRAM o FINANCIAL ANALYSIS o DEAL o DESIGN

  13. MARKET RESEARCH o PROGRAM o FINANCIAL ANALYSIS o DEAL o DESIGN

  14. Community - Residential Achieving a height which mirrors the residential neighborhood MARKET RESEARCH o PROGRAM o FINANCIAL ANALYSIS o DEAL o DESIGN

  15. MARKET RESEARCH o PROGRAM o FINANCIAL ANALYSIS o DEAL o DESIGN

  16. Office district with Mass Av address MARKET RESEARCH o PROGRAM o FINANCIAL ANALYSIS o DEAL o DESIGN

  17. MARKET RESEARCH o PROGRAM o FINANCIAL ANALYSIS o DEAL o DESIGN

  18. Shadow Study 9am MARKET RESEARCH o PROGRAM o FINANCIAL ANALYSIS o DEAL o DESIGN

  19. 3 -d Shadow Study 1 pm MARKET RESEARCH o PROGRAM o FINANCIAL ANALYSIS o DEAL o DESIGN

  20. Shadow Study 5 pm MARKET RESEARCH o PROGRAM o FINANCIAL ANALYSIS o DEAL o DESIGN

  21. Thank you

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