Medical Dental BuildingSeattle, WA

Combining Historic and New Market

Tax Credits

Presented by George Petrie

Master Tenant Structure Diagram

John Goodman, Non-Member Manager

GRE Medical Dental Building LLC100% Member GRE MDB Mezzanine LLC

PROPERTY OWNER

GRE 509 Olive LLC100% - Tax Credit Investor (Non Managing

Member)0% -Non-Member Manager

Federal Tax Credits Lease Payments

BOA CDE

100% Credits, Profits & Losses and Cash Flow

Tax Credit Equity

Goodman & Petrie Controlled Developer

Commercial Tenant Subleases

Incentive Management Fee

Developer Fee

DevelopmentServices

Net Profits & Losses and Cash Flow

NEW Ventures

Credits, Profits & Losses and Cash Flow

Tax Credit Equity

Rents

GRE MDB Mezzanine LLC

90% - GRE MDB Investor, LLC -Managing Member10% - GRE 509 Olive LLC - Non Managing Member

GRE MDB Investor LLC75% Member, Manager- John Goodman

25% Member - George Petrie

Equity

Equity

10% Net Profits & Losses and Cash

90% Profits & Losses and Cash Flow

Sources and UsesTotal Percentage

Bank of America Permanent Loan 50,000,000 67%

TriSail Mezzanine Financing 4,310,000 6%

Federal HTC 6,260,000 8%

NMTC Equity 1,830,000 2%

Deferred Developer Fee & Equity 11,840,000 16%

Total Sources of Funds 74,240,000 100%

62,400,000

Land 13,500,000

Building 25,000,000

Hard Costs 21,290,000

Soft Costs and Financing Costs 14,450,000

Total Development Costs 74,240,000

Floor Corridors Before

Floor Corridors After

Floor Elevator Lobby Before

Floor Elevator Lobby After

Main Lobby Entrance Before

Main Lobby Entrance After

All Star Fitness Lobby Before

All Star Fitness Lobby After

All Star Fitness Facility

All Star Fitness Facility

Wintergarden Before

Wintergarden After

Wintergarden After