3900 Florin Perkins Road, Sacramento CA

A 228,000 SF warehouse industrial building at the center of one of the three main industrial hubs in the greater Sacramento County. The property was foreclosed by the lender and Vertical Ventures completed the acquisition from the lender at approximately 50% of replacement value. Considering the costs basis, the strategy is to lease the vacant spaces at approximately 25% below market to expedite absorption. During the due diligence period, two leases were signed bringing the occupancy to 31% before the close of escrow. The plan is to complete the capital expenditures, lease the remaining vacancy and sell the property as a leased investment.

A 52,600 SF concrete one story, three building office campus in Walnut Creek. At acquisition, the property was 100% leased by a credit tenant paying above market rate rent during the following 16 months. The strategy is to convert the property into medical office condos and sell individual units ranging from 1100-3400 sf to small and medium sized health care practitioners. Proximity to John Muir hospital, increased demand and lack of available supply due to zoning and parking restrictions make this an attractive opportunity.

A 37 unit condo project facing south towards Carquinez Straits. Project was acquired "off market" at approximately 55% of FMV. Current construction scheduled for completion by September 2007. The significant upside potential is due to the acquisition price, no new supply of condos in Benicia for the next two years and substantiated comps in a development immediately adjacent to the project."

Class B office space located at the intersection of Interstate Highway 4 and 680.  Refinanced in 2001. The property was purchased as a foreclosure in 1991 and subsequently redeveloped and leased to a single tenant on a NNN basis.

Commercial property one block from the Interstate Highway 680 Willow Pass Road exit. Property was acquired in May 2002, improvements completed by March 2003 and leased to credited tenants. Property was sold in May 2005 realizing a 31% IRR.