Real Estate Project

A N N E J O L I N E W I L K E S

OBJECTIVE

To further high quality real estate development in urban areas, while being a member of a team which enhances the existing infrastructure as well as the future growth of key markets.

KEY QUALIFICATIONS

• Adept in risk mitigation, market analysis, demographic targeting, short term and long term site planning, working with local municipalities for rezoning and creating new zoning ordinances, prepared and updated financial models, valuation analyses, and development pro formas.

• Effective in preparing development and rental matrices, development budgets, project build-out timelines, securing various permits and entitlements, keeping updated development and financial status of current and potential projects for developers, engineers, architects, government, contractors and subcontractors.

• Adroit in working with clients throughout full process of development; identifying, analyzing and acquiring properties, determining new construction and rehabilitated commercial/ residential/ mixed-use spaces, efficient space planning, and financing. Coordinating property closing process and overseeing signings, assisting small businesses, start-ups, and large commercial clients throughout the entirety of development and lease-up process.

• Skilled in determining, analyzing, and qualifying NPV of properties (10yr cash flow to 99yr land leases), analyzing and refitting NOI in full spectrum of real estate development, working with and securing NMTCs, HTCs, LIHTCs, and EZ/ Tourism grants and credits, DHR incentives and grants, and securing bridge/mezz loans, PE investments, and VHDA/HUD financing.

• Seasoned experience in creating LOIs, RFPs, RFQs, collaborating with contractors from bidding through CO on budgets, keeping build-out on schedule and cutting unnecessary expenditures, overseeing build-out whilst working with architects, engineers, local governments and overseeing design/build specs from project inception through completion in accordance with newest BMPs.

• Managed portfolios, analyzed spatial concepts, reduced costs and enhanced profits through leasing structures.

• Proficient with all technological resources to analyze market conditions, demographics, and economic conditions to optimize NOI for rehabilitated and new construction multifamily, commercial, and mixed-use projects.

• Efficient in guiding buyers, sellers, renters, governments, investors, and property owners through the entirety of development, planning, zoning, and financing processes.

WORK EXPERIENCE

Real Estate Development, Analyst, Project Planning WVS Companies, LLC January 2007-April 2015

Rocketts Landing; 60 acre, mixed use development along the James River in Richmond, VA. Residential Sales & Marketing Associate; Learned the ropes of sales and leasing, reformulated marketing campaign. Aided in and followed through contracts of single unit closings valuing up to $1.5 million. Initiated leasing program for mixed-use building, doubling the occupancy within a year. Worked hands-on with engineers, architects, subcontractors, and developers. Completed walk-throughs with buyers, completed punch-outs of units to raise value and marketability, had daily walks of the project with the developer and engineers to learn about carpentry, construction, and planning. Formulated an improved landscaping plan that cut costs by 75%. Commercial Leasing & Sales Associate; Negotiated amongst brokers, potential clients, and developers. Designed and estimated financing through strategic planning of properties as well as in depth market research. Restructured commercial leasing program with a result of 85% of RSF being leased within a year.

The Locks, Richmond, Virginia; 7 acre adaptive reuse project of historic Reynolds Plant located in the CBD of Richmond, VA Site Planner/ Analyst Created initial Master Plan of site, formulated pro formas, usage matrices, and build-out schedules determining feasibility of the project. Master planned site and rehab buildings, determining value, accessibility, sustainability, and marketability. Planned and analyzed uses for build-out of 400 rental units within historic structures, determined and executed HTC summary and sale of credits. Quarterpath, Williamsburg, Virginia; 400 acre mixed use project, anchored by a 25 acre Riverside Healthcare Campus Master Planner/Analyst; Initiated relationship with property owners resulting in securing contract to develop, executed the build-out of Phase 1. Reconstructed former master plan resulting in a profitable site program, created and updated in-depth market analyses, analyzed topo to reduce slope and SWM land loss maximizing usage (up by 32%), created Executive Summary, prospectus for potential investors, builders. Collaborated with the head engineers, developers, landscape architects, local government, Riverside execs, brokers, contractors and archaeologists. Extensively researched historical significance of the property, mitigating risk due to NPA and DHR standards. Worked closely with Colonial Williamsburg to create a new zoning ordinance to make project feasible. The Bridges, Roanoke, Virginia; 22 acre mixed-use project with historic structures bordering the CBD Master planned site, worked with City and HTC officials regarding the Property, resulting in the City putting $8m towards the horizontal costs of the first Phase (200k GSF, $30m). Obtained construction loan through VHDA (MUMI Program for Phase 1) and secured. Created matrices and pro formas to maximize usage, value, and enhance surrounding sites, created Investment Prospectus to circulate to both high net worth investors as well as PE funds, secured equity for first phase of a new construction, 160 unit apartment building. Formulated and executed contract for sale of land to a large healthcare provider, formulated LOIs for and worked closely with tenants and brokers to secure financing, market, and lease-up. Collaborated closely with Carilion Health System and Virginia Tech to add value, forecast products and future demand to aptly provide for, thus guaranteed CO. EDUCATION B.S. Business, Real Estate & Land Development Virginia Commonwealth University ADDITIONAL PROFESSIONAL AND PERSONAL ACTIVITIES

Board Member of the American Civil War Center at Historic Tredegar, currently serve as Chair of the Capital Projects Committee, doing pro-bono site planning and analysis of the property of the Tredegar, NPS and the New Market properties overseeing the rehabilitation of the site and historic structures, preparing budgets and property analyses, manage a maintenance plan, formulated master plan, and cut costs. Member of the Woman’s Club of Virginia. Serve on Vintage Maymont Committee, organize and promote fundraisers for Massey Cancer Center.

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Destinations

THE WVS COMPANIES, LLC was founded in 2001

in a natural progression of earlier development com- panies working in the Washington, D.C. metropolitan area. Current major fi nancial investors include two Washington, D.C. groups, the Epstein Family Orga-

nization (EFO) and Snell Construction Corporation

(SCC). Th e founding members are Lawrence Wilkes,

President, and Jason Vickers-Smith, Vice President, having worked together since 1996.

WVS’ philosophy began with a single absolute: to

create and develop mixed-use projects that denote

the highest standards of practice. Th e traits include, but are not limited to, an aesthetically pleasing mix of architecture, a wide range of amenities, access to waterways, and a location near urban areas so as to truncate lengthy commutes, as these characteristics of new-urbanist projects have proven time and again to be appealing to a vast range of demographics. By off ering a higher quality of life, not necessarily at a higher price point, the draw to WVS developments is voluminous throughout the spectrum.

WVS’ main goal is to add greater value to the sur- rounding areas of its projects. Sound economic

growth is dependent upon progressive urban devel-

opment, and through the enhancement of the natural and built environments a pivotal balance is formed. View of downtown Richmond, Virginia from Rocketts Landing Building large and complex mixed-use communities

in accordance with the best urban design principles for the long run is truly the only way to achieve such a goal. Key characteristics of WVS projects range from transforming brownfi elds into destination points, to rejuvenating outdated and forgotten access points to water areas that have been vastly ignored in the more recent past.

Th e WVS team is adept at strategic planning and

engineering. At the initiation of any project, when a quandary is foreseen by the team, the group addresses it head on. For example, freeing up developable land is a high priority, as it usually ends in a product of higher quality and makes economic growth sustain-

able. From designing water amenities that fi lter run- off from entering the natural environment to calculat- ing vital intersections, WVS’ expertise of unlocking otherwise lost value is critical.

REPRESENTATIVE PROJECTS

Belmont Bay is a 325 acre mixed-use development

in Prince William County, Virginia located just 20 miles south of Washington, D.C. on the Occoquan

River. Th ere are approximately 1,800 residential units, comprised of single family detached, single family at- tached (rowhouses), and condominiums. Th e ameni-

ties consist of a commuter train station (the fi rst of its kind in the region), an 18-hole golf championship course, and a 158-slip marina. Th e location was ini- tially perceived to be at the lower end of the Wash- ington market. Th e initial market study suggested a maximum of $115,000 townhomes pricing. Due to

a major economic impact the actual prices averaged

$175,000. Th e townhomes have sold for as high as

$1,000,000, with the mid-$700,000s now being an av- erage. Belmont Bay had a drastic impact on the Wash- ington metro-area market, infl uentially changing it. Spearheading the product type, Belmont Bay became

a project prototype for similar communities.

Rocketts Landing is a unique 60 acre (or 20 city

block) project spanning 1.5 miles along the banks of the James River, less than one mile from downtown

Richmond, Virginia. WVS has undertaken

development of the property for seven years, creating a large scale riverfront urban living environment, in- cluding high-end for-sale residential, restaurants, of- fi ce space, and a marina. To date, WVS has built-out 249 condominium units in four buildings (75% sold), 47,500 NRSF of retail/commercial (100% leased), 13 townhomes (eight sold), a structured parking garage that serves commercial space (350 parking spaces), two riverfront restaurants, a separate riverfront pool/ clubhouse, and a 60 slip marina (70% occupied). WVS has preserved the historic feel of the property by ren- ovating and rehabilitating several historic structures

(including one condominium building that was origi- nally a 19th century cedar factory) and incorporating relevant architectural styles. Th ree additional river- front restaurants are slated to move to the property over the next year, four high-end ($1M+) riverfront townhomes are scheduled to break ground (three

sold) before the end of 2012, and build out of a 38,000 SF commercial building has commenced. Rocketts

Landing is the only project on the James River and is the only development of its kind in the greater met- ropolitan area.

Quarterpath is a 382 acre project located in the heart of Colonial Williamsburg, Virginia. Anchored by a

25 acre Riverside Health Systems campus, WVS was

contracted by Riverside to be the fee land developer for the entire property. Th e entire property will be comprised of ~2.15M SF of residential space, 750,000 SF of commercial and retail space, and extensive

parks and green space. Similar to Rocketts Landing, Quarterpath will include a new urban village cen-

ter, complete with retail, residential, and commercial space. Th e amenities will consist of a multi-use pedes- trian trail that will run throughout the project, fi tness center, clubhouse, pool, pocket parks throughout, an appealing mix of architectural styles and a 22 acre his- torical park (already complete). Th e property is at an opportune location, directly contiguous to Routes 60 and 199 and less than a mile commute to I-64.

Th e Locks is the redevelopment of the old Reynolds distribution facility, residing in the heart of down- town Richmond. It sits on both the James River as

well as the historic Richmond canal system. Th e fi rst Rendering of Th e Locks in Richmond, Virginia

phase (underway), constitutes the rehabilitation of the old Reynolds facilities, and includes over 174 mul- tifamily units and 10,000 SF of retail along the Canal. Later phases will exceed 500,000 SF of development. In the future, the opportunity will exist to build a large tower with river views. It is adjacent to the main street of Shockoe Slip (Richmond’s main nightlife area),

within the central business district, and the Federal Reserve Bank of Richmond is a mere block away.

Riverside Station is a mixed-use development located in the heart of Roanoke, Virginia. Th is 22 acre prop- erty is adjacent to the Virginia Tech Carillon School of Medicine and Th e Carilion Roanoke Memorial

Hospital. Moreover, the site is only a half mile from the Jeff erson College of Health Sciences. A trolley serves as public transportation along Jeff erson Street and has a stop at the property. It is slated for 628,000 GSF of development which will include 260,000 GSF

of residential, 118,000 GSF of retail, and 250,000 GSF of commercial. Given the proximity of the property to the two medical schools, the hospital, and the Roa- noke CBD, it provides an immediate market for rental units. Th e fi rst phase of the project located on Jeff er- son Street will connect the medical school with the CBD. It includes the development of 111,350 NSF of apartment space in 155 units (719 SF / Unit) and 155 structured parking spaces. Th e Jeff erson Street area is envisioned as the centerpiece of the master develop- ment, and new construction should quickly follow

the completion of the Asset. Th e property will also include retail and commercial space.

Rocketts Landing, Richmond, Virginia

TEAM

Lawrence Wilkes, PE, President

Larry worked as a Project Manager for Cadillac Fair- view in the early 1980s, when it was the largest de- veloper of urban real estate in North America. While there, he oversaw projects totalling 5,000,000 + square feet of commercial offi ce space. Larry later served as President and head developer of Virginia Properties Associates which developed offi ce and commercial

space throughout the D.C. metro area. He obtained

a Bachelor of Science in Civil Engineering from the Virginia Military Institute and advanced degrees in Economics and Environmental Planning from the

University of Virginia. He is a registered Professional Engineer.

Jason Vickers-Smith, Vice-President

Jason is a third generation real estate developer. His responsibilities include identifying, designing, and fi nancing projects throughout the Commonwealth

of Virginia. In addition, Jason oversees all hands-on elements of developing WVS’ projects. He is the head developer at WVS’ central offi ce located at Rocketts Landing and is actively involved in developing Th e Locks in downtown Richmond. Jason has a Bachelor

of Science in Engineering from Duke University and an MBA from Oxford University.

Richard Souter

Richard has been involved with WVS since 2004. His responsibilities include all aspects of managing devel- opment; particularly coordinating with municipal of- fi cials on entitlements and identifying fi nancing for WVS’ projects. Richard secured fi nancing for Th e Locks and is currently actively working on its devel- opment. He obtained a Bachelor of Science in Civil Engineering from the University of Cape Town, South Africa and an MBA from Oxford University.

INVESTMENT OPPORTUNITIES

WVS will consider any project for development that matches the core strengths and experience of the of- fi cers and is always looking at new options for both debt and equity fi nancing for new projects. If you or your company see an opportunity for a future

successful relationship, please visit our website at www.wvscompaniesllc.com or contact us:

Jason Vickers-Smith

*****.*******-*****@************.***

Richard Souter

*******.******@************.***

Anne Wilkes

****.******@************.***

Th e WVS Companies, LLC

5000 Old Osbourne Turnpike

P.O. Box 8089

Richmond, Virginia 23223-0029

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