Garden Villas · 2017-11-14 · 23 Lots Single Family Detached Home Project City of Colton, California Garden Villas 18881 Von Karman Avenue, Suite 150 Irvine, California 92612 T

23 LotsSingle Family Detached Home Project

City of Colton, California

GardenVillas

18881 Von Karman Avenue, Suite 150

Irvine, California 92612

T 949.553.2020 | F 949.553.8449

www.hoffmanland.com

CA BRE #01473762

Southern California Office Broker Contact

Norm Scheel

CA BRE #00999403

T (949) 705-0932

[email protected]

OFFERING MEMORANDUM

The

Hoffman

Company

Leading the LandBrokerage IndustryC A L I F O R N I A + N E V A D A

Tom Dallape

CA BRE #01100284

T (949) 705-0928

[email protected]

10

E VALLEY BLVD

E G STREET

COLTON AVE

N 10TH

ST

N 12

TH S

T

DISCLAIMERThe information contained in this offering material (“Brochure”) is furnished solely for the purpose of a review by prospective purchaser of any portion of the subject property in the City of Colton, County of San Bernardino, California (“Property”) and is not to be used for any other purpose or made available to any other person without the express written consent of Scheel Dallape Inc. d/b/a The Hoffman Company (“The Hoffman Company”). The material is based in part upon information obtained by The Hoffman Company from sources it deems reasonably reliable. Summaries of any documents are not intended to be comprehensive or all inclusive but rather only an outline of some of the provisions contained therein. No warranty or representation, expressed or implied, is made by Seller, The Hoffman Company, or any of their respective affiliates, as to the accuracy or completeness of the information contained herein or as to engineering or environmental matters. Prospective purchasers should make their own projections and conclusions without reliance upon the materials contained herein and conduct their own independent due diligence, including engineering and environmental inspections, to determine the condition of the Property and the existence of any potentially hazardous material located at the site.

This Brochure was prepared by The Hoffman Company. It contains select information pertaining to the Property and does not purport to be all-inclusive or to contain all of the information that a prospective purchaser may desire. All assumptions are provided for general reference purposes only and are based on assumptions relating to the general economy, competition and other factors beyond control and, therefore, are subject to material change or variation.

In this Brochure, certain documents and other materials are described in summary form. The summaries do not purport to be complete nor, necessarily, accurate descriptions of the full agreements involved, nor do they constitute a legal analysis of such documents. Interested parties are expected to independently review all documents.

This Brochure is subject to prior placement, errors, omissions, changes or withdrawal without notice and does not constitute a recommendation, endorsement or advice as to the value of the Property by The Hoffman Company or the Seller. Each prospective purchaser is to rely upon its own investigation, evaluation and judgment as to the advisability of purchasing the Property described herein.

Seller and The Hoffman Company expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers to purchase the property and/or to terminate discussions with any party at any time with or without notice. Seller shall have no legal commitment or obligation to any purchaser reviewing this Brochure or making an offer to purchase the Property unless a written agreement for the purchase of the Property has been fully executed, delivered and approved by the Seller and any conditions to Seller’s obligations there under have been satisfied or waived. The Hoffman Company is not authorized to make any representations or agreements on behalf of Seller.

This Brochure is the Property of The Hoffman Company and may be used only by parties approved by The Hoffman Company. The Property is privately offered and, by accepting this Brochure, the party in possession hereof agrees (i) to return it to The Hoffman Company immediately upon request of The Hoffman Company or Seller and (ii) that this Brochure and its contents are of a confidential nature and will be held and treated in the strictest confidence. No portion of this Brochure may be copied or otherwise reproduced or disclosed to anyone without the prior written authorization of The Hoffman Company and Seller.

Please be advised, Buyer acknowledges that The Hoffman Company Organization, may (1) act as an agent for more than one prospective Buyer on the subject property and/or (2) act as the agent for both the Buyer and Seller on the subject property. Any prospective Buyer requesting The Hoffman Company to submit an offer on its behalf acknowledges the foregoing disclosures and agrees to the described agency relationships with other prospective Buyers.

POSSIBLE REPRESENTATION OF MORE THAN ONE BUYER OR SELLER - DISCLOSURE AND CONSENT (C.A.R. Form PRBS, 11/14)

A real estate broker (Broker), whether a corporation, partnership or sole proprietorship, may represent more than one buyer or seller. This multiple representation can occur through an individual licensed as a broker or salesperson or through different individual broker’s or salespersons (associate licensees) acting under the Broker’s license. The associate licensees may be working out of the same or different office locations.

Multiple Buyers: Broker (individually or through its associate licensees) may be working with many prospective buyers at the same time. These prospective buyers may have an interest in, and make offers on, the same properties. Some of these properties may be listed with Broker and some may not. Broker will not limit or restrict any particular buyer from making an offer on any particular property whether or not Broker represents other buyers interested in the same property.

Multiple Sellers: Broker (individually or through its associate licensees) may have listings on many properties at the same time. As a result, Broker will attempt to find buyers for each of those listed properties. Some listed properties may appeal to the same prospective buyers. Some properties may attract more prospective buyers than others. Some of these prospective buyers may be represented by Broker and some may not. Broker will market all listed properties to all prospective buyers whether or not Broker has another or other listed properties that may appeal to the same prospective buyers.

Dual Agency: If Seller is represented by Broker, Seller acknowledges that broker may represent prospective buyers of Seller’s property and consents to Broker acting as a dual agent for both seller and buyer in that transaction. If Buyer is represented by Broker, buyer acknowledges that Broker may represent sellers of property that Buyer is interested in acquiring and consents to Broker acting as a dual agent for both buyer and seller with regard to that property.

In the event of dual agency, seller and buyer agree that: (a) Broker, without the prior written consent of the Buyer, will not disclose to seller that the Buyer is willing to pay a price greater than the offered price; (b) Broker, without the prior written consent of the seller, will not disclose to the buyer that seller is willing to sell property at a price less than the listing price; and (c) other than as set forth in (a) and (b) above, a dual agent is obligated to disclose known facts materially affecting the value or desirability of the property to both parties.

Offers not necessarily confidential: Buyer is advised that seller or listing agent may disclose the existence, terms, or conditions of buyer’s offer unless all parties and their agent have signed a written confidentiality agreement. Whether any such information is actually disclosed depends on many factors, such as current market conditions, the prevailing practice in the real estate community, the listing agent’s marketing strategy and the instructions of the seller.

Buyer and seller understand that Broker may represent more than one buyer or more than one seller and even both buyer and seller on the same transaction and consents to such relationships.

The terms and conditions set forth above apply to this Brochure in its entirety.

Property Overview & Offering Guidelines

Aerials, Maps, Elevations & Floor Plans

Area Overview

Market Overview

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3

4

4-12

13-20

21-26

27-30

TABLE OF CONTENTS

1PROPERTY OVERVIEW

5

1Property Overview

GARDEN VILLAS | COLTONThe

Hoffman

Company

OFFERING MEMORANDUM

Site Detail

LocationGarden Villas is located at the NE corner of “H” Street and Cottage Lane. The site is located within ¼ mile of the S. 9th Street via 10 Freeway and is within 1 ½ miles off the 215 Freeway.

Owner/DeveloperSunwest EnterprisesJohn [email protected]

EntitlementsTTM #18738 is approved. Final Map and civil engineering are approved and “Ready to Record”. The property will be sold as “Ready to Record”.

Housing ProductTwo story single family detached plans with two car garages.Plan 1: 1709 SF 3BRPlan 2: 1861 SF 3BR with loft or optional 4th BR

Project AmenitiesPocket park and greenbelts. Private side patios from 270-420 SF.

HOA$135 per month. HOA maintained greenbelts, pocket park, front yards and internal streets.

Lot SizeFrom 33’ x 68’ (2244 SF) to 41’ x 72’ (2864 SF)

Condition/TopoSite is clear and flat. Grading has dirt balance.

Assessor ’s Parcel Numbers0162-107-04 thru 13 & 26

Acres1.83 acres after street dedications and vacations

Parking73 parking spaces: 46 garage, 5 parking lot, and 22 street spaces

SchoolsColton Unified School District

UtilitiesWater, Wastewater, Electric: City of ColtonGas: Southern California Gas CompanyCable: Time WarnerPhone: AT&T

Additional Information Available Upon RequestMeyers Research Pricing StudyMoote Detailed Cost EstimatesProject PlansConditions of ApprovalPhase I Environmental Site Assessment

Garden Villas is a 23 home single family detached home project located in Colton, California. The

project site is located on an infill parcel with existing infrastructure and services nearby. The site

plan features homes facing onto greenbelts and a pocket park.

6

1Property Overview


Hoffman

Company

OFFERING MEMORANDUM

Offering GuidelinesSellerSunwest Enterprises

Proposed Deal StructureAll Cash | Bulk Structure

Asking PriceSubmit.

Due Diligence PeriodThe Due Diligence Period shall commence upon buyer acceptance and delivery of all due diligence materials. The due diligence period shall be 45 days.

DepositsThe Initial Deposit of two percent (2.0%) of the purchase price shall be made at the Opening of Escrow and shall remain refundable during the Due Diligence Period. A Second Deposit of three percent (3.0%) shall be placed into Escrow prior to expiration of the Due Diligence Period. The sum of the Initial Deposit and Second Deposit shall equal a Total Deposit of five percent (5.0%) of the Purchase Price. Upon Buyer’s approval of its Due Diligence, the Total Deposit shall be released to the Seller and shall be non-refundable except for Seller default.

EscrowEscrow shall be held with First American Title Company.

Close of EscrowThe Close of Escrow shall occur the 15-days after Buyer’s approval of the Due Diligence Period.

Property ConditionThe subject site is unimproved and will be delivered in its current condition.

Brokerage CommissionThe brokerage commission shall be paid by Seller pursuant to separate agreement.

Broker ContactTHE HOFFMAN COMPANYNorm Scheel Tom DallapeCA BRE #00999403 CA BRE #01100284T 949.705.0932 T [email protected] [email protected]

Southern California Corporate Office18881 Von Karman Ave., Suite 150, Irvine, CA 92612T 949.553.2020 • F 949.553.8449 CA Corporate DRE Lic #01473762www.hoffmanland.com

Conceptual Rendering of Garden Villas

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1Property Overview


Hoffman

Company

OFFERING MEMORANDUM

Residual Land Value

HouseDescription Total Per Unit PSFPlan 1: 1709 SF 18,799 11 1,709Plan 2: 1861 SF 22,332 12 1,861Unit Count & Home Sizes 41,131 23 1,788

Revenues from Home Sales (per Meyers Report)Plan 1: 1709 SF $3,707,000 $337,000 $197.19Plan 2: 1861 SF $4,140,000 $345,000 $185.38Lot Premiums $144,992 $6,304 $3.53Revenues $7,991,992 $347,478 $194.31Finished Lot Value @ 35% of Revenues $2,797,197 $121,617 $68.01

Costs to Finish Lots (per Moote Companies)Land Development Costs $716,228 $31,140 $17.41Consulting and Services and Bonds $37,096 $1,613 $0.90Agency Fees Fees $698,773 $30,381 $16.99Finished Lot Costs $1,452,097 $63,135 $35.30

Residual Land Value $1,345,100 $58,483 $32.70

RESIDUAL LAND VALUE: 23 HOMES, GARDEN VILLAS, COLTON

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Hoffman

Company

OFFERING MEMORANDUM

Estimates

PAGE 1 OF 5

Date: 02/27/2017Updated 03/07/2017 1 of 5

MOOTE COMPANIES SUNWEST ENTERPRISESContact: Brett Perrine Contact: Casey Reichel60 Corporate Park, Suite 100 3 Upper Newport PlazaIrvine, CA 92606 Newport Beach, CA 92660Tel: 949.428.1400 x.204 Tel: [email protected] [email protected]

No. of DU: 23Gross AC: 1.83

Net AC: 1.83Density: 12.57

Avg. SF/DU: 1,788

LAND DEVELOPMENT COSTS AMOUNT $/DU $/NET AC % of OVERALLDEMOLITION 15,319 666 8,371 1.05%GRADING 58,216 2,531 31,812 4.01%EROSION CONTROL 16,093 700 8,794 1.11%STORM DRAIN AND WATER QUALITY 74,942 3,258 40,952 5.16%SANITARY SEWER 68,962 2,998 37,684 4.75%DOMESTIC WATER 128,653 5,594 70,302 8.86%RECLAIMED WATER - ASSUMES NONE 0 0 0 0.00%STREET IMPROVEMENTS 164,112 7,135 89,678 11.30%TRAFFIC SIGNALIZATION 0 0 0 0.00%DRY UTILITIES 71,461 3,107 39,050 4.92%STREET LIGHTS 0 0 0 0.00%LANDSCAPE, IRRIGATION & HARDSCAPE 97,471 4,238 53,263 6.71%SITE AMENITIES 1,900 83 1,038 0.13%WALLS AND FENCING 8,750 380 4,781 0.60%BOND EXONERATION 10,350 450 5,656 0.71%

============ ============ ============ ============SUB-TOTAL, Land Development Costs………………………………………………………………………………………………………………………………………………..………………… 716,228 31,140 391,381 49.32%

Contingency………………………………………………………………………………………………………………………………………………………………………………… 0.0% 0 0 0 0.00%

TOTAL, Land Development Costs……………………………………………………………………………………………………………...……………………………………………… 716,228 31,140 391,381 49.32%

CONSULTING SERVICES AND BONDSCONSULTING SERVICES 32,350 1,407 17,678 2.23%BONDS 4,746 206 2,593 0.33%

============ ============ ============ ============SUB-TOTAL, Consulting Services and Bonds……………………………………………………………………………….………………………………………………………………………… 37,096 1,613 20,271 2.55%

Contingency……………………………………………………………………………………………………………………………………………………….……………………. 0.0% 0 0 0 0.00%

TOTAL, Consulting Services……………………………………………………………………………………………………………….……………………………………………………… 37,096 1,613 20,271 2.55%

AGENCY FEESENTITLEMENT FEES 0 0 0 0.00%PERMIT, PLAN CHECK AND INSPECTION 12,395 539 6,773 0.85%IMPACT FEES 686,378 29,843 375,070 47.27%

============ ============ ============ ============SUB-TOTAL, Agency Fees………………………………………………………………………………………………………………………………………….…………………………………………… 698,773 30,381 381,843 48.12%

Contingency………………………………………………………………………………………………………………………………………………………………………………… 0.0% 0 0 0 0.00%

TOTAL, Agency Fees……………………………………………………………………………………………………………………..………………………………………………………… 698,773 30,381 381,843 48.12%

TOTAL LAND DEVELOPMENT BUDGET…………………………………………………………………………………………………………………………...………………………………………. 1,452,097 63,135 793,496 100.00%

Estimate Referenced DocumentsGlobal Geo-Engineering, Inc. - Geotechnical Investigation Report - Proposed Residential Development Tentative Tract Map No. 18738 - Colton, California. - Dated: April 25, 2016Rough Grading Plans - Tract No. 18738 - City of Colton - Sheets 1 of 6 through 6 of 6 - Dated: - Prepared By Bonadiman & Associates, Inc.Precise Grading Plans - Tract No. 18738 - City of Colton - Sheets 1 of 7 through 7 of 7 - Dated: 12/1/16 - Prepared By Bonadiman & Associates, Inc.Sewer Improvement Plans - Tract No. 18738 - City of Colton - Sheets 1 of 2 through 2 of 2 - Dated: 12/1/16 - Prepared By Bonadiman & Associates, Inc.Water Improvement Plans - Tract No. 18738 - City of Colton - Sheets 1 of 3 through 3 of 3 - Dated: 7/20/16 - Prepared By Bonadiman & Associates, Inc.Street Improvement Plans - Tract No. 18738 - City of Colton - Sheets 1 of 8 through 8 of 8 - Dated: 12/1/16 - Prepared By Bonadiman & Associates, Inc.Garden Villas Conceptual Site Plan TTM 18738 - Sheet 1 of 1 - Dated: 10/19/15

General Notes All quantities by Owner unless otherwise highlighted / noted.0% Contingency per Clients request

Any alterations or unauthorized use of this data as provided by MC is strictly forbidden. Legal action to collect damages caused to MC’s reputation or for any other costs associated with unauthorized use may be taken.

SUMMARY

GARDEN VILLAS - COLTON 23TRACT 18738COLTON, CA

Moote Companies (hereinafter referred to as MC) is providing this opinion of probable costs to include as many items as possible. It should be understood that MC has no control over actual costs or the price of labor, equipment, materials or the contractor’s method of pricing. The opinions of probable construction costs expressed herein are made on the basis of MC’s qualifications and experience. As the engineering design advances and additional studies and reports are generated, MC hereby requests the opportunity to update and refine the preliminary cost estimate at an additional charge to the original agreement.

This opinion of probable costs is based on preliminary and conceptual information available at the time this document is generated. The sole purpose of this document is to convey an order of magnitude of probable land development costs. This document shall be nonbinding in any way and is prepared for preliminary budget purposes only.


No. of DU: 23Gross AC: 1.83Net AC: 1.83Density: 12.57

Avg. SF/DU: 1,788

LAND DEVELOPMENT COSTS AMOUNT $/DU $/NET AC % of OVERALLDEMOLITION 15,319 666 8,371 1.05%GRADING 58,216 2,531 31,812 4.01%EROSION CONTROL 16,093 700 8,794 1.11%STORM DRAIN AND WATER QUALITY 74,942 3,258 40,952 5.16%SANITARY SEWER 68,962 2,998 37,684 4.75%DOMESTIC WATER 128,653 5,594 70,302 8.86%RECLAIMED WATER ‐ ASSUMES NONE 0 0 0 0.00%STREET IMPROVEMENTS 164,112 7,135 89,678 11.30%TRAFFIC SIGNALIZATION 0 0 0 0.00%DRY UTILITIES 71,461 3,107 39,050 4.92%STREET LIGHTS 0 0 0 0.00%LANDSCAPE, IRRIGATION & HARDSCAPE 97,471 4,238 53,263 6.71%SITE AMENITIES 1,900 83 1,038 0.13%WALLS AND FENCING 8,750 380 4,781 0.60%BOND EXONERATION 10,350 450 5,656 0.71%

============ ============ ============ ============SUB‐TOTAL, Land Development Costs………………………………………………………………………………………………………………………………………………..……………………… 716,228 31,140 391,381 49.32%

Contingency……………………………………………………………………………………………………………………………………………………………………………………. 0.0% 0 0 0 0.00%

TOTAL, Land Development Costs……………………………………………………………………………………………………………...…………………………………………………… 716,228 31,140 391,381 49.32%


============ ============ ============ ============SUB‐TOTAL, Consulting Services and Bonds……………………………………………………………………………….…………………………………………………………………………. 37,096 1,613 20,271 2.55%

Contingency……………………………………………………………………………………………………………………………………………………….……………………. 0.0% 0 0 0 0.00%

TOTAL, Consulting Services……………………………………………………………………………………………………………….……………………………………………………………… 37,096 1,613 20,271 2.55%


============ ============ ============ ============SUB‐TOTAL, Agency Fees………………………………………………………………………………………………………………………………………….……………………………………………… 698,773 30,381 381,843 48.12%

Contingency…………………………………………………………………………………………………………………………………………………………………………………..… 0.0% 0 0 0 0.00%

TOTAL, Agency Fees……………………………………………………………………………………………………………………..…………………………………………………………… 698,773 30,381 381,843 48.12%


Estimate Referenced DocumentsGlobal Geo‐Engineering, Inc. ‐ Geotechnical Investigation Report ‐ Proposed Residential Development Tentative Tract Map No. 18738 ‐ Colton, California. ‐ Dated: April 25, 2016Rough Grading Plans ‐ Tract No. 18738 ‐ City of Colton ‐ Sheets 1 of 6 through 6 of 6 ‐ Dated: ‐ Prepared By Bonadiman & Associates, Inc.Precise Grading Plans ‐ Tract No. 18738 ‐ City of Colton ‐ Sheets 1 of 7 through 7 of 7 ‐ Dated: 12/1/16 ‐ Prepared By Bonadiman & Associates, Inc.Sewer Improvement Plans ‐ Tract No. 18738 ‐ City of Colton ‐ Sheets 1 of 2 through 2 of 2 ‐ Dated: 12/1/16 ‐ Prepared By Bonadiman & Associates, Inc.Water Improvement Plans ‐ Tract No. 18738 ‐ City of Colton ‐ Sheets 1 of 3 through 3 of 3 ‐ Dated: 7/20/16 ‐ Prepared By Bonadiman & Associates, Inc.Street Improvement Plans ‐ Tract No. 18738 ‐ City of Colton ‐ Sheets 1 of 8 through 8 of 8 ‐ Dated: 12/1/16 ‐ Prepared By Bonadiman & Associates, Inc.Garden Villas Conceptual Site Plan TTM 18738 ‐ Sheet 1 of 1 ‐ Dated: 10/19/15



SUMMARY

GARDEN VILLAS ‐ COLTON 23TRACT 18738COLTON, CA



Date: 02/27/2017Updated 03/07/2017 1 of 5

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1Property Overview


Hoffman

Company

OFFERING MEMORANDUM

Estimates

PAGE 1 OF 5

Date: 02/27/2017Updated 03/07/2017 2 of 5




Avg. SF/DU: 1,788


ITEM UNITNO. DEMOLITION - Quantities by Owner MEAS PRICE QUAN AMOUNT1. Sawcut and Remove Existing AC Pavement SF 1.75 5,465 9,5642. Remove Existing P.C.C. Curb and Gutter LF 5.00 315 1,5753. Remove Existing P.C.C. Walk SF 2.50 452 1,1304. Remove and Relocate Existing Concrete Bollard by City Public Works Dept. EA 300.00 10 City Cost5. Remove Existing Catch Basin EA 1,000.00 2 2,0006. Remove or Relocate Existing Stop Sign/Street Sign or Replace Under Direction of City Inspector EA 350.00 3 1,050

============Sub-Total, DEMOLITION……………………………………………………………………………………………………………………………………………………………………...………………………………………...…………. 15,319

ITEM UNITNO. GRADING - Quantities by Owner MEAS PRICE QUAN AMOUNT1. Move In, Site Prep, Establish Construction Water LS 4,000.00 1 4,0002. Clear & Grub Site AC 1,600.00 1.83 2,9283. Over Excavation - Lots 1-23, A, B, C, D, E & Alley Chamber (per Civil) CY 2.10 11,729 24,6314. Mass Excavation (per Civil) CY 2.10 1,366 2,8695. Mass Excavation, Additional for 1' Park Cut CY 2.10 358 7526. Additional Cut for Chambers CY 2.10 246 5177. Additional Cut in Park to Make Pad Grade During Rough Grade Operation CY 2.10 400 8408. Import from Mass Excavation CY 0.00 0 *1 assumes balance9. Pre-Water for 1 Week (Per Soils Recommendations) AC 1,200.00 1.83 2,196

10. Construction Water During Grading CY 0.20 13,095 Indirect Cost11. Site Finish, Pads, Streets, Common Area AC 6,098.40 1.83 11,16012. Temporary 6.0' Chain Link Fence w/Green Fabric Around Site LF 6.50 1,405 Indirect Cost13. Erosion Control During Grading AC 2,800.00 1.83 5,12414. Street Cleaning During Grading DAYS 640.00 5 3,20015. Pad Finish / Spin Out16. Rip, Water and Recompact EA 0.00 0 house cost17. Rough Pull Cut EA 0.00 0 house cost18. Rough Pull Dirt Haul, Assumes XX CY/DU CY 0.00 0 house cost19. Clean Street From Dirt Haul EA 0.00 0 house cost20. Fine Grade EA 0.00 0 house cost

============Sub-Total, GRADING………………………………………………………………………………………………………………………………………………………….………………………………………………………...…. 58,216

*1 Assumes the park site will be our borrow site and then filled with spoils generated from house and utility spoilsWet Utility Spoils: 223 CY not included in the above.

ITEM UNITNO. EROSION CONTROL MEAS PRICE QUAN AMOUNT1. Erosion Control, NPDES, Sand Bags at Completion of Grading. No Maintenance AC 4,800.00 1.83 8,7842. Erosion Control Maintenance, Infrastructure AC 2,300.00 1.83 4,2093. Construction Entrance EA 3,100.00 1 3,1004. Dust Control5. General Site Clean Up EA 0.00 0 house cost6. Concrete Wash Out Pits EA 0.00 0 house cost7. Street Sweeping HRS 0.00 0 house cost8. Annual Weed Abatement EA 0.00 0 house cost

============Sub-Total, EROSION CONTROL……………………………………………………………………………………………………………………………..……………………………………………………………………...…. 16,093

ITEM UNITNO. STORM DRAIN AND WATER QUALITY - Quantities by Owner MEAS PRICE QUAN AMOUNT1. Onsite2. 12" PVC - Mainline with Bedding & Backfill LF 44.00 113 4,9723. 8" PVC - Mainline with Bedding & Backfill LF 40.00 160 6,4004. 6" PVC - Mainline with Bedding & Backfill LF 38.00 35 1,3305. 12" NDS Area Catch Basin EA 250.00 13 3,2506. 24"x24" Prefab. Storm Drain Catch Basin, w/ Traffic Rated Grate, Brooks Products 2424 EA 1,800.00 4 7,2007. Underground Storm Water Storage/Percolation Chamber - Cultec Recharger 330XLHD (38 EA Chambers per Cultec

Representative) LF 100.00 280 28,0008. Adjust Grates to Final Grade EA 150.00 13 1,9509. Video Inspection LS 1,800.00 1 1,800

10. Offsite11. 18" RCP - Mainline with Bedding & Backfill LF 210.00 24 5,04012. Construct 6' Wide Curb Inlet Catch Basin per City of Colton Std. Dwg. No. 200 & 203 (Type A) EA 6,500.00 2 13,00013. Join Existing Lateral EA 1,000.00 2 2,000

============Sub-Total, STORM DRAIN AND WATER QUALITY……………………………………………………………………………………...……………………………………………………………………………………………………...…. 74,942

ITEM UNITNO. SANITARY SEWER - Quantities by Owner MEAS PRICE QUAN AMOUNT1. Onsite2. 8" VCP - Mainline with Bedding & Backfill LF 40.00 280 11,2003. 4" PVC SRD 35 - Lateral including Cleanout with Bedding & Backfill (104 LF) - New EA 400.00 11 4,4004. 4" PVC SRD 35 - Lateral including Cleanout with Bedding & Backfill (60 LF) - Connect to Existing in Alley EA 1,000.00 6 6,0005. Standard Sewer Manhole, Including 1 Raise, Depth = +/- 6' to 9' EA 3,500.00 2 7,0006. Join Existing 8" VCP with New Manhole EA 4,500.00 1 4,5007. Clean, Air Test & Video Mainline, Complete LF 5.00 280 1,4008. Raise Manhole to Final Grade EA 650.00 3 1,9509. Video, Repair, Clean Existing 8" VCP (Lot "B" Alley) - Assumes no Repair Cost LS 2,500.00 1 2,500

10. Offsite 011. 4" PVC SRD 35 - Lateral with Bedding & Backfill (155 LF) - Connect to Existing in "H" Street EA 2,000.00 6 12,00012. Join Existing 8" VCP Mainline Line EA 1,000.00 6 6,00013. Remove and Replace Existing AC Paving SF 12.00 376 4,51214. Traffic Control LS 5,000.00 1 5,00015. Clean, Air Test & Video Line, Complete LS 2,500.00 1 2,500

============Sub-Total, SANITARY SEWER…………………………………………………………………………………………………………………………………………...………………………………………………………………………...…. 68,962



Avg. SF/DU: 1,788



Contingency……………………………………………………………………………………………………………………………………………………………………………………. 0.0% 0 0 0 0.00%




Contingency……………………………………………………………………………………………………………………………………………………….……………………. 0.0% 0 0 0 0.00%




Contingency…………………………………………………………………………………………………………………………………………………………………………………..… 0.0% 0 0 0 0.00%






SUMMARY




Date: 02/27/2017Updated 03/07/2017 1 of 5

10

1Property Overview


Hoffman

Company

OFFERING MEMORANDUM

Estimates

PAGE 3 OF 5

Date: 02/27/2017Updated 03/07/2017 3 of 5




Avg. SF/DU: 1,788


ITEM UNITNO. DOMESTIC WATER - Quantities by Owner MEAS PRICE QUAN AMOUNT1. 8" PVC C-900 CL 150 Mainline with Bedding & Backfill LF 35.00 878 30,7302. 6" PVC C-900 CL 150 Mainline with Bedding & Backfill LF 30.00 29 8703. 8" Gate Valve per City of Colton Std. 704 Including 1 Raise EA 1,650.00 5 8,2504. 6" Gate Valve per City of Colton Std. 704 Including 1 Raise EA 1,250.00 1 1,2505. Fire Hydrant Assembly per City of Colton Std. 700 including 6" Gate Valve & 1 Raise EA 5,500.00 4 22,0006. Hot Tap Existing 8" ACP for Fire Hydrant Lateral EA 3,500.00 1 3,5007. Join Existing 8" ACP Waterline EA 1,500.00 1 1,5008. Join Existing 6" ACP Waterline EA 1,500.00 1 1,5009. 1" Type K, Hard Copper Domestic Water Lateral Meter Service per City of Colton Std. 701 including 3/4" Meter & Box

EA 950.00 23 21,85010. 1" Air-Vac Assembly per City of Colton Std. 707 EA 3,000.00 2 6,00011. 4" Blow Off Assembly per City of Colton Std. 706A including 6" Gate Valve & 1 Raise EA 3,500.00 2 7,00012. 1.5" Landscape Water Meter Service per City of Colton 701 including 1.5" Meter & Box and Hotap to Existing 8" ACP

DW Line EA 2,750.00 1 2,75013. Reduced Pressure Principle Backflow Device per City of Colton Std. 709 (Landscape Service) EA 1,800.00 1 1,80014. Remove Existing 6" ACP Waterline LF 100.00 29 2,90015. Cut in Tee, 8"x8"x8" @ Cottage Lane EA 7,500.00 1 7,50016. Raise Valve Can to Final Grade EA 375.00 15 5,62517. Chlorinate & Pressure Test Line, Complete LF 4.00 907 3,628

============Sub-Total, DOMESTIC WATER…………………………………………………………………………………………………………………….………………………………………………………………………………...…. 128,653

ITEM UNITNO. RECLAIMED WATER - ASSUMES NONE MEAS PRICE QUAN AMOUNT1.

============Sub-Total, RECLAIMED WATER……………………………………………………………………………………………………….………………………………………………………………………………………………...…. 0

ITEM UNITNO. STREET IMPROVEMENTS - Quantities by Owner MEAS PRICE QUAN AMOUNT1. Onsite2. Construct 0.10' Minimum A.C. Pavement Overlay (H Street, G Street & Cottage Lane) SF 0.70 14,886 10,4203. Construct 3" (Min.) A.C. Pavement Over 4" (Min) Aggregate Base SF 1.89 9,663 18,2634. Construct 1" AC Cap SF 0.58 9,663 5,6055. Construct 8" P.C.C. Curb with 18" Gutter per City of Colton Std. Dwg. No. 106A LF 18.00 1,276 22,9686. Construct Curb only per City of Colton Std. Dwg. No. 106A LF 14.00 243 3,4027. Construct P.C.C. Sidewalk per City of Colton Std. Dwgs. No. 108 & 109 SF 2.75 6,423 17,6638. Construct P.C.C. Cross Gutter per City of Colton Std. Dwg. No. 112 SF 8.00 1,185 9,4809. Construct P.C.C. Curb Return Wheelchair Ramp per City of Colton Std. Dwg. No. 120 SF 4.00 485 1,940

10. Construct P.C.C. Alternate Curb Return Wheelchair Ramp per City of Colton Std. Dwg. No. 120A SF 4.00 560 2,24011. Install Street Name Sign per City of Colton Std. Dwg. No. 123 & 123A EA 350.00 5 1,75012. Construct Sidewalk Drain per City of Colton Std. Dwg. No. 128 & 128B EA 1,800.00 1 1,80013. Construct 6' Wide Curb Inlet Catch Basin per City of Colton Std. Dwg. No. 200 & 203 (Type A) EA 4,200.00 2 8,40014. Install One Way Sign per Cal-Trans Standards EA 350.00 5 1,75015. Apply 4" Wide Parking Stall Markings per Cal-Trans Standards LF 1.00 216 21616. Apply Stop Bar/Legend and Sign On Post per Cal-Trans Standards & Specifications EA 500.00 1 50017. Adjust Manhole Rim to Grade (Included with Sewer Improvements) EA 550.00 3 Included w/ Sewer18. Adjust Valve Can and Lid to Grade (Included with Water Improvements) EA 300.00 15 Included w/ Water19. Mobilization EA 1,500.00 2 3,00020. Wash & Tack Coat Prior to Asphalt Cap SF 0.07 9,663 67621. Fine Grade Streets SF 1.00 9,663 9,66322. Asphalt & Concrete Repair for Final Acceptance LS 0.00 1 See Bond Ex23. Onsite - PRIVATE24. Construct 3" (Min.) A.C. Pavement Over 6" (Min.) Compacted Native SF 1.56 9,105 14,20425. Construct 1" AC Cap SF 0.58 9,105 5,28126. Construct P.C.C. Cross Gutter per City of Colton Std. Dwg. No. 112 SF 8.00 1,485 11,88027. Apply Parking Stall and D.P. Stall Markings per Mutco Standards ALLOW 1,000.00 1 1,00028. Construct Curb only per City of Colton Std. Dwg. No. 106A LF 18.00 126 2,26829. Wash & Tack Coat Prior to Asphalt Cap SF 0.07 9,105 63730. Fine Grade Streets SF 1.00 9,105 9,10531. Asphalt & Concrete Repair for Final Acceptance LS 0.00 1 See Bond Ex

============Sub-Total, STREET IMPROVEMENTS…………………………………………………………………………………………………….………………………………………………………………………………………...…. 164,112

ITEM UNITNO. TRAFFIC SIGNALIZATION - NOT APPLICABLE MEAS PRICE QUAN AMOUNT1.

============Sub-Total, TRAFFIC SIGNALIZATION……………………………………………………………………………………..…………………………………………………………………………………………………………………...…. 0



Avg. SF/DU: 1,788



Contingency……………………………………………………………………………………………………………………………………………………………………………………. 0.0% 0 0 0 0.00%




Contingency……………………………………………………………………………………………………………………………………………………….……………………. 0.0% 0 0 0 0.00%




Contingency…………………………………………………………………………………………………………………………………………………………………………………..… 0.0% 0 0 0 0.00%






SUMMARY




Date: 02/27/2017Updated 03/07/2017 1 of 5

11

1Property Overview


Hoffman

Company

OFFERING MEMORANDUM

Estimates

PAGE 4 OF 5

Date: 02/27/2017Updated 03/07/2017 4 of 5




Avg. SF/DU: 1,788


ITEM UNITNO. DRY UTILITIES - Quantities by Owner MEAS PRICE QUAN AMOUNT1. Utility Fees2. City Fees - Transformer, Primary and Secondary Wiring - per Colton Electrical LS 32,760.92 1 32,7613. Telephone and TV Undergrounding EA need from client4. Gas Company EA need from client5. Contractor Charges6. Joint Trench (Elec, Tel, CATV) EA 1,500.00 23 34,5007. Gas Only Trench LS 4,000.00 1 *1 4,000 per Client8. House Services LS 3,000.00 1 *1 3,000 per Client9. Undergrounding (Telephone and TV Line Crossing Project) LF need from client

10. Refunds / Reimbursement11. Colton - 50% of 1500 kVA Transformer LS -2,800.00 1 -2,80012. Gas Company LF 0

============Sub-Total, DRY UTILITIES……………………………………………………………………………………………………………………………………….………………………………………………………………………...…. 71,461

*1 Per client

ITEM UNITNO. STREET LIGHTS MEAS PRICE QUAN AMOUNT1. Street Light EA 0

============Sub-Total, STREET LIGHTS…………………………………………………………………………………………………………………………………………...……………………………………………………………………...…. 0

ITEM UNITNO. LANDSCAPE, IRRIGATION & HARDSCAPE - Quantities by Owner MEAS PRICE QUAN AMOUNT1. Parkway Landscape & Irrigation @ Perimeter ROWs SF 7.50 3,092 23,1902. Parkway Landscape & Irrigation @ Pocket Park (Non-Turf) SF 3.00 7,520 22,5603. Parkway Landscape & Irrigation @ Greenbelt SF 7.50 3,300 24,7504. 24" box trees (Park) EA 350.00 10 3,5005. 15 gallon trees (Park & ROW) EA 95.00 45 4,2756. Electronic Controls ALLOW 1,000.00 1 1,0007. Maintenance (1 Year) SF 0.65 13,912 9,0438. Park & Greenbelt Sidewalk - 4" P.C.C., 5' Wide SF 3.00 3,051 9,153

============Sub-Total, LANDSCAPE, IRRIGATION & HARDSCAPE…………………………………………………………...……………………………………………………………………………………………………………...…. 97,471

ITEM UNITNO. SITE AMENITIES MEAS PRICE QUAN AMOUNT1. Park Bench EA 950.00 2 1,900

============Sub-Total, SITE AMENITIES…………………………………………………………………………………………………………………………………………..……………………………………………………………………...…. 1,900

ITEM UNITNO. WALLS AND FENCING - Pricing per Marina MEAS PRICE QUAN AMOUNT1. Paint Existing Block Wall SF 1.25 800 1,0002. 6' Vinyl Fencing, Southerly Boundary on 11th Street LF 25.00 310 7,7503. 6' Vinyl Fencing (Interior), Side and Rear Yards LF 0.00 0 house cost

============Sub-Total, WALLS AND FENCING………………………………….……………………………………………………………………………….……………………………………………………………………………………………...…. 8,750

ITEM UNITNO. BOND EXONERATION MEAS PRICE QUAN AMOUNT1. Bond Exoneration EA 450.00 23 10,350

============Sub-Total, BOND EXONERATION………………………………………………………………………………………………………….……………………………………………………………………………………………...…. 10,350

ITEM UNITNO. CONSULTING SERVICES MEAS PRICE QUAN AMOUNT1. Soils Geology Report LS 6,900.00 0 complete2. Soils Compaction Testing - per Global Geo-Engineering, Inc Proposal LS 12,100.00 1 *1 12,1003. Blue Prints LS 3,000.00 0 complete4. Biological Report (Completed Negative Dec) LS Included 0 complete5. Landscape Architect - Final Plans EA 5,000.00 0 *1 complete6. Environmental Phase I LS 3,900.00 0 complete7. Utility Consultant LS N/A N/A N/A8. Civil Engineering Tentative Map LS 9,885.00 0 complete9. Civil Engineering Final Map LS 53,980.00 0 complete

10. Engineering Survey Stake Out - Per Bonadiman Proposal LS 20,250.00 1 *1 20,25011. Boundary Survey LS Included 0 complete12. Topo Map LS Included 0 complete13. Precise Grading Plan LS Included 0 complete14. WQMP LS Included 0 complete15. Erosion Control Plans LS Included 0 complete16. Traffic Engineer LS 3,211.00 0 complete17. Hydrology Study LS Included 0 complete



Avg. SF/DU: 1,788



Contingency……………………………………………………………………………………………………………………………………………………………………………………. 0.0% 0 0 0 0.00%




Contingency……………………………………………………………………………………………………………………………………………………….……………………. 0.0% 0 0 0 0.00%




Contingency…………………………………………………………………………………………………………………………………………………………………………………..… 0.0% 0 0 0 0.00%






SUMMARY




Date: 02/27/2017Updated 03/07/2017 1 of 5

12

1Property Overview


Hoffman

Company

OFFERING MEMORANDUM

Estimates

PAGE 5 OF 5

Date: 02/27/2017Updated 03/07/2017 5 of 5




Avg. SF/DU: 1,788


ITEM UNITNO. CONSULTING SERVICES MEAS PRICE QUAN AMOUNT18. CONSULTANTS-HOMES19. Conceptual Home Design - Crane LS 10,475.00 0 complete20. Color Coordinator - De Bernardo LS 3,200.00 0 complete21. Renderings - Focus 360 LS 4,240.00 0 complete22. Landscape Architect Conceptual - Sitescapes LS 338.00 0 complete23. Architectural Plans - KPI LS 28,607.00 0 complete24. Structural - Core Structure LS 4,950.00 0 complete25. Title 24 LS 850.00 0 complete

============Sub-Total, CONSULTING SERVICES………………………………………………………………………………………...…………………………………………………………………………………………………...…. 32,350

*1 Per client

ITEM UNITNO. BONDS MEAS PRICE QUAN AMOUNT1. Rough Grading and Erosion Control % 68,191.00 1.25% *1 8522. Storm Drain % 73,951.00 1.25% *1 9243. Sanitary Sewer % 41,600.00 1.25% *1 5204. Domestic Water % 85,701.00 1.25% *1 1,0715. Streets % 110,231.00 1.25% *1 1,378

============Sub-Total, BONDS…………………………………………………………………………………………………………………………………………………………………..……………………………………………………...…. 4,746

*1 Per client

ITEM UNITNO. ENTITLEMENT FEES MEAS PRICE QUAN AMOUNT1. Development Services2. Site Plan Review LS 1,860.00 0 complete3. Park Site Plan Review LS 256.00 0 complete4. Initial Environmental Assessment LS 1,400.00 0 complete5. Landscape & Irrigation Plan Review LS 335.00 0 complete6. Pre-application Review LS 300.00 0 complete7. Tentative Tract Map LS 2,000.00 0 complete8. Public Notice LS 150.00 0 complete9. Final Tract Map, Engineering LS 1,000.00 1 complete

10. Final Tract Map, Engineering EA 30.00 23 complete11. Landscape & Irrigation Plan Review EA 335.00 0 complete

============Sub-Total, ENTITLEMENT……………………………………………………………………………………………………………………………………...…………………………………………………………………...…. 0

ITEM UNITNO. PERMIT, PLAN CHECK, AND INSPECTION - By Owner MEAS PRICE QUAN AMOUNT1. Permit & Inspection2. Building Permit - Onsite Streets & SD (1% x $73,951) LS 740.00 1 7403. Building Permit - Grading ($430 +$0.01 x 3095 CY) LS 461.00 1 4614. Building Permit - Streets LS 3,982.00 1 3,9825. Building Permit - Water LS 3,553 1 3,5536. Building Permit - Sewer LS 1,789 1 1,7897. Landscape (Includes Plan Review) LS 975.00 1 9758. Encroachment Permit EA 75.00 1 759. Street Cut Permit SF 1.00 620 620

10. Precise Grading LS 200.00 1 20011. Plan Check12. Final Map Fee LS 2,825.00 0 complete13. Plan Check - Fire LS 500.00 0 complete14. Plan Check - Hydrology LS 915.00 0 complete15. Plan Check - Grading ($850 + $0.01 x 1,729 CY) LS 869.00 0 complete16. Plan Check - Streets ($2,200 +3.25% x $59,331) LS 4,128.00 0 complete17. Plan Check - Water (4% x $82,508) LS 3,300.00 0 complete18. Plan Check - Sewer (4% x $41,600) LS 1,664.00 0 complete19. Plan Check - SWPPP & WQMP ($100 + Consultant) LS 2,000.00 0 complete20. Plan Check - Onsite Street & SD (2% x $62,571) LS 1,479.00 0 complete

============Sub-Total, PERMIT, PLAN CHECK AND INSPECTION…………………………………………………...………………………………………………………………………………………………………………………...…. 12,395

ITEM UNITNO. IMPACT FEES MEAS PRICE QUAN AMOUNT1. Agency2. Infrastructure (SANBAG) DU 4,007.00 23 92,1613. Traffic Impact (Colton) DU 1,382.00 23 31,7864. Circulation (Colton) DU 3,149.00 23 72,4275. Civic Center (Colton) DU 77.00 23 1,7716. Fire Station (Colton) DU 106.00 23 2,4387. Library (Colton) DU 215.00 23 4,9458. Police Station (Colton) DU 149.00 23 3,4279. Quimby & Park Impact DU 2,858.00 23 65,734

10. Park Development Impact DU 5,636.00 23 129,62811. Water District12. Wastewater Capacity Fee DU 2,800.00 23 64,40013. Connection Charge - 3/4" (Meter & Box Only) DU 100.00 23 2,30014. Connection Charge - 1.5" (Meter & Box) Landscape EA 325.00 1 32515. Capital Improvement Fee - 1" DU 2,900.00 23 66,70016. Capital Improvement Fee - 1.5" (Irrigation) EA 5,200.00 1 5,20017. Frontage Fee LS 0.00 0 018. Turn On Charge EA 11.00 24 house cost19. School District20. Elementary & High School, Level I SF 3.48 41,131 143,136

============Sub-Total, IMPACT FEES…………………………………………………………………………………………………………………………………………….……………………………………………………………………………...…. 686,378



Avg. SF/DU: 1,788



Contingency……………………………………………………………………………………………………………………………………………………………………………………. 0.0% 0 0 0 0.00%




Contingency……………………………………………………………………………………………………………………………………………………….……………………. 0.0% 0 0 0 0.00%




Contingency…………………………………………………………………………………………………………………………………………………………………………………..… 0.0% 0 0 0 0.00%






SUMMARY




Date: 02/27/2017Updated 03/07/2017 1 of 5

AERIALS, MAPS, ELEVATIONS & FLOOR PLANS

2

14 GARDEN VILLAS | COLTONThe

Hoffman

Company

OFFERING MEMORANDUM

2Aerials, Maps & Photos

Close Up Aerial with Site Plan Overlay

E G STREET

COLTON AVE

E H STREET

N 1

0TH

ST

N 1

2TH

ST

COTT

AGE

LN


Hoffman

Company

OFFERING MEMORANDUM


Vicinity Aerial

SAN BERNARDINOMETROLINK 66

10

10

215

215

RIALTO AVE

E MILL ST

E FOOTHILL BLVDW 5TH ST

W MILL ST

RIALTO AVE

E ORANGE ST

W VALLEY BLVD

N R

ANCH

O A

VE

PEPP

ER A

VE

MT VER

NO

N AVE

S WATER

MAN

AVE

RIALTOMETROLINK

SAN BERNARDINOAMTRAK

SAN BERNARINOPUBLIC GOLF COURSE

COLTONGOLF COURSE

A rrowhead Regional Medical Center (ARMC) is a 456-bed university-affiliated teaching hospital licensed by the State of California Department of Public Health and operated by the County of San Bernardino. The hospital, located on a 70-acre campus in Colton, California, is a designated Level II

trauma center. ARMC operates a regional burn center, a primary stroke center, a behavioral health center located on the hospital campus, four primary care centers including three family health centers, and provides more than 40 outpatient specialty care services.

The Medical Center recently installed a new, state-of-the-art Computed Tomography (CT) scanner and a dual purpose interventional laboratory to enhance care for patients. In keeping with its mission of providing quality health care, a variety of community outreach and wellness programs are offered, including the Breathmobile (asthma education and screening), a Mobile Medical Clinic, an annual Health Fair and a 5K Walk-Run event.

ArrowheAd regionAl MedicAl center

Edward G. HirscHman Burn cEntEr:Located on the second floor of ARMC, the center provides complete burn care to patients of all ages and serves four counties: Inyo, San Bernardino, Riverside and Mono. Dedicated and caring, the burn center’s multi-disciplinary team includes specialized nurses; general surgeons and plastic surgeons; case managers; social workers; respiratory, occupational and physical therapists; dietitians; pharmacists and chaplains. The center offers an outpatient clinic to address the needs of patients who have been discharged from the hospital. The center also provides burn prevention education for the public and training for paramedics, occupational and physical therapists and nursing students.

womEn’s and cHildrEn’s HEaltH sErvicEs: ARMC offers comprehensive care for women and children in a caring environment supporting the total family experience. Designated as a Baby-Friendly hospital, ARMC supports the global effort aimed at improving the role of maternity services in encouraging mothers to breastfeed babies for the best start in life.

EmErGEncy dEpartmEnt: ARMC’s Emergency Department, with more than 116,000 patient visits each year, includes a helicopter landing area outside of the Emergency Department that can accommodate both standard medical evacuation helicopters and military helicopters. The Emergency Department provides acute, emergent, and urgent treatment for patients who visit the department.

trauma cEntEr: ARMC’s trauma center treats the most seriously injured patients and is one of the region’s busiest for adult trauma care. It is the only Inland Empire Trauma Center certified by the American College of Surgeons.

primary strokE cEntEr: One of the first in the region, ARMC’s Primary Stroke Center is certified by the Healthcare Facilities Accreditation Program (HFAP), and provides the latest treatment advances for stroke.

BEHavioral HEaltH sErvicEs: The Behavioral Health Center, located on the campus of Arrowhead Regional Medical Center, provides psychiatric emergency and inpatient psychiatric treatment services for the assessment and treatment of acute psychiatric emergencies and mental health issues. The Behavioral Health program is comprised of four units with 90 licensed beds. Patients are evaluated in a secure, safe environment, and treated by an interdisciplinary team of psychiatrists, clinical therapists, nurses, and occupational therapists whose goal is to help patients lead more healthful and productive lives.

400 North Pepper Avenue • Colton, California, 92324 • 909.580.1000 www.arrowheadmedcenter.org

Description of Ma jor services

INLAND CENTER

SUBJEC T SITE


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Company

OFFERING MEMORANDUM


Site Plan


Hoffman

Company

OFFERING MEMORANDUM


Assessor’s Pacel Map


Hoffman

Company

OFFERING MEMORANDUM


Plan 1 & Plan 2 Elevations

PLAN 1 Elevation A

PLAN 2 Elevation A

PLAN 1 Elevation B

PLAN 2 Elevation B


Hoffman

Company

OFFERING MEMORANDUM


Conceptual Floor Plans

PLAN 1 1,709 S.F.

SECOND FLOOR PLAN – 1,004 S.F . FIRST FLOOR PLAN – 705 S.F .


Hoffman

Company

OFFERING MEMORANDUM


Conceptual Floor Plans

PLAN 21,861 S.F.

SECOND FLOOR PLAN – 1,121 S.F . FIRST FLOOR PLAN – 740 S.F .

MEYERS-PRICING

RECOMMENDATION

3


Hoffman

Company

OFFERING MEMORANDUM

3Meyers - Pricing Recommendation

Garden Villas Recommended Pricing & Absorption

Total Per Unit Average

Unit Characteristic

5 end lots 38’ wide

3 end lots 41’ wide

Pocket Park

Interior greenbelt

Total

5

3

2

11

%

1.5%

3.0%

2.0%

2.0%

$/Unit

$5,118

$10,235

$6,823

$6,823

Total

$25,588

$30,706

$13,647

$75,058

$144,999

$6,304

PREMIUMS

Estimated premium revenue is detailed to the right. There are 5 end lots at 38’ wide (11’ side yards) that we assigned a 1.5% ($5K) premium to, and

3 additional end lots that are 41’ wide (14’ side yards) that got an additional $10K (3%) in revenue. Lots 1 and 7 were given a 2% premium because

they are adjacent to the pocket park, while all 11 interior lots were given a 2% bump ($6.6K) because they load onto the internal green belt. Total

premium revenue is estimated at $140K or $6,120 per unit. Lot 7 will prove to be one of the best lots (41’w + park + interior greenbelt) = +$22K

Total/Average

Home Configuration Base (April 2017) Assumptions/Total PricePlan

1

2

Bed

3

4

Bath

2.5

2.5

Flrs

2

2

Cars

2

2

Mix

11

12

23

Unit Size

1,709

1,861

1,788

Price

$337,000

$345,000

$341,174

PSF

$197

$185

$191

Premium

$6,304

$6,304

$6,304

Total Price

$343,304

$351,304

$347,478

PSF

$201

$189

$195

Garden Villas | 2,244 (33x68) Alley @ 5/mo

ABSORPTION

Our base prices target an absorption of 5.0 homes per month.

HOA + ASSESSMENTS

Our pricing assumes HOA fees of $135 per month and a 1.35% total tax rate.

TARGET MARKET

The subject property will attract first-time buyers comprised largely of young growing families that are already living along the 10 and 215

corridors. Buyers will be attracted to the site’s access and new construction at a very affordable price point. We anticipate approximately 50%

of buyers will be workforce families who enjoy the cohesive park-like neighborhood and functional single family homes at an unmatched price

point for new construction.

AREAOVERVIEW

4


Hoffman

Company

OFFERING MEMORANDUM

4Area Overview

City Info & Demographics

CaliforniaState

County

Mayor

Incorporated

Website

Historical Annual Growth

Forecasted Annual Growth

0.6%

0.6%

California

San Bernardino

July 11, 1887

www.ci.colton.ca.us/

Colton Population (2016) Major EmployersWithin City of Colton and San Bernardino County Area

Weather

Total Population

Source: wikipedia.org and www.ci.colton.ca.us/ Source: wikipedia.org and weather.com

Source: Zonda

Source: San Bernardino Chamber of Commerce

Source: Zonda; US Census; Nielsen; Meyers Research LLC

54,147

Total Population

No. of Households

Median Household Income

Homeownership Rate

Median Age

1. Stater Bros. Markets, San Bernardino 18,000

2. Arrowhead Regional Medical Center, Colton 18,000

3. County of San Bernardino, San Bernardino 17,395

4. San Bernardino City Unified School District 8,574

5. Ontario International Airport, Ontario 7,510

6. Kaiser Permanente, Fontana 5,682

7. Fontana Unified School District, Fontana 3,953

8. Loma Linda University, Loma Linda 3,906

9. California State University, San Bernardino 3,012

10. Colton Joint Unified School District, Colton 2,257

11. City of San Bernardino, San Bernardino 1,760

12. Saint Bernadine Medical Center, San Bern. 1,400

13. Redlands Community Hospital, Redlands 1,300

14. Community Hospital of San Bernardino 1,200

15. California Steel Industries Inc., Fontana 956

16. Trinity Child and Family Services, Colton 900

17. San Bernardino Community College District 862

18. The Sun Newspaper, San Bernardino 526

January Average

July Average

Precipitation

54,147

15,400

$41,369

52.0%

30.3

High 67º, Low 42º

High 96º, Low 63º

16.4”

Cal State Fullerton, San Bernardino Campus

Colton


Hoffman

Company

OFFERING MEMORANDUM

4Area Overview

Arrowhead Regional Medical Center

Arrowhead Regional Medical Center (ARMC) is a 456-bed university-affiliated teaching hospital licensed by the State of California

Department of Public Health and operated by the County of San Bernardino. The hospital, located on a 70-acre campus in Colton,

California, is a designated Level II trauma center. ARMC operates a regional burn center, a primary stroke center, a behavioral health

center located on the hospital campus, four primary care centers including three family health centers, and provides more than 40

outpatient specialty care services.

The Medical Center recently installed a new, state-of-the-art Computed Tomography (CT) scanner and a dual purpose

interventional laboratory to enhance care for patients. In keeping with its mission of providing quality health care, a variety of

community outreach and wellness programs are offered, including the Breathmobile (asthma education and screening), a Mobile

Medical Clinic, an annual Health Fair and a 5K Walk-Run event.

EMERGENCY DEPARTMENT:

ARMC’s Emergency Department, with more than

116,000 patient visits each year, includes a helicopter

landing area outside of the Emergency Department that

can accommodate both standard medical evacuation

helicopters and military helicopters. The Emergency

Department provides acute, emergent, and urgent

treatment for patients who visit the department.

TRAUMA CENTER:

ARMC’s trauma center treats the most seriously injured

patients and is one of the region’s busiest for adult

trauma care. It is the only Inland Empire Trauma Center

certified by the American College of Surgeons.

PRIMARY STROKE CENTER:

One of the first in the region, ARMC’s Primary

Stroke Center is certified by the Healthcare Facilities

Accreditation Program (HFAP), and provides the latest

treatment advances for stroke.

BEHAVIORAL HEALTH SERVICES:

The Behavioral Health Center, located on the campus of

Arrowhead Regional Medical Center, provides psychiatric

emergency and inpatient psychiatric treatment services

for the assessment and treatment of acute psychiatric

emergencies and mental health issues. The Behavioral

Health program is comprised of four units with 90

licensed beds. Patients are evaluated in a secure, safe

environment, and treated by an interdisciplinary team of

psychiatrists, clinical therapists, nurses, and occupational

therapists whose goal is to help patients lead more

healthful and productive lives.

EDWARD G. HIRSCHMAN BURN CENTER:

Located on the second floor of ARMC, the center

provides complete burn care to patients of all ages and

serves four counties: Inyo, San Bernardino, Riverside

and Mono. Dedicated and caring, the burn center’s

multidisciplinary team includes specialized nurses;

general surgeons and plastic surgeons; case managers;

social workers; respiratory, occupational and physical

therapists; dietitians; pharmacists and chaplains. The

center offers an outpatient clinic to address the needs of

patients who have been discharged from the hospital.

The center also provides burn prevention education for

the public and training for paramedics, occupational and

physical therapists and nursing students.

WOMEN’S AND CHILDREN’S HEALTH

SERVICES:

ARMC offers comprehensive care for women and

children in a caring environment supporting the total

family experience. Designated as a Baby-Friendly

hospital, ARMC supports the global effort aimed at

improving the role of maternity services in encouraging

mothers to breastfeed babies for the best start in life.

NEONATAL INTENSIVE CARE UNIT (NICU):

The 30-bed unit offers state-of-the-art intensive care in a

nursery setting and provides care for premature infants

and sick newborns requiring continuous assessment,

observation and intensive treatment.

www.arrowheadmedcenter.org400 North Pepper Avenue • Colton, California, 92324

909.580.1000

is less than

2.5 Milesfrom Garden Villas














Hoffman

Company

OFFERING MEMORANDUM

4Area Overview

Arrowhead Regional Medical Center

OUTPATIENT AND SPECIALTY SERVICES:

• Audiology

• Cardiology (interventional and cardiac rehab)

• Coumadin Clinic

• Dialysis Center

• Family and Elder Care

• Gastroenterology Lab

• Infusion Therapy

• Lipid Clinic

• Oncology Services

• Ophthalmology

• Orthopedics

• Otolaryngology (ENT) and Oral, Maxillofacial

Surgery

• Pain Management Clinic

• Pediatrics Clinic

• Rehabilitation Services

• Surgical Services

• Women’s Health Services

• Wound Care Center (Hyperbaric Oxygen Therapy)

FAMILY HEALTH CENTERS:

The Family Health Centers (FHCs) offer comprehensive

primary care medical services to individuals and families.

The FHCs are staffed with experienced attending physicians

and resident doctors from ARMC. Each patient is assigned

to a primary care provider to attend to his or her individual

health care needs. Center locations: Rialto (Westside Family

Center); San Bernardino (McKee Family Health Center); and

Fontana (Fontana Family Health Center).

LABORATORY SERVICES:

The full-service ARMC Pathology and Clinical Laboratory

is accredited by the State of California, College of

American Pathologists, and the Healthcare Facilities

Accreditation Program (HFAP). Services include the

disciplines of blood bank, chemistry, coagulation,

hematology, microbiology, serology and urinalysis. State

of-the art instrumentation in hematology and chemistry

help the lab conduct nearly two million tests each year.

The lab’s blood bank provides blood and blood products

to patients in ARMC’s busy emergency department and

trauma center. The lab also has a medical technology

school that educates and trains laboratory interns to qualify

and pass the State Boards for clinical laboratory scientist.

GRADUATE MEDICAL EDUCATION :

ARMC is the principal clinical site for multiple medical

residency programs, some accredited through the

Accreditation Council for Graduate Medical Education

(ACGME), and others accredited by the American

Osteopathic Association (AOA). Specialty programs

include: emergency medicine; family medicine; internal

medicine; surgery; neurological surgery; OB-GYN;

psychiatry; and ophthalmology. Maternal-fetal medicine

and pulmonary critical care fellowships are also offered.

COMMUNITY OUTREACH PROGRAMS:

ARMC offers health education seminars and hosts a

variety of support groups. A yearly Health Fair and 5K

Walk-Run are also offered. A Breathmobile (asthma

education and screening) and Mobile Medical Clinic

provide education and resources throughout our County.

OTHER FACTS

• AR MC Service Area: The County of San Bernardino

(20,000-plus square miles)

• Payor Mix (approximate year-to-date) » Medi-Cal Managed Care 35.3%

» Medi-Cal Fee-for-Service 32.1%

» Medicare Fee-for-Service 9.6%

» Commercial Insurance 7.0%

» Medicare HMO 6.9%

» Self-Pay 4.6%

» Other 4.5%

• F Y 2014 Patient Services Statistics » Inpatient Discharges 24,614

» Outpatient Visits 245,169

» ER Visits 116,133

» Surgeries 15,457













Developed in April 2015.


Hoffman

Company

OFFERING MEMORANDUM

4Area Overview

16

15

Loma Linda University

University of Redlands

CSU San Bernardino

San Manuel Indian Casino

Fox Theater Event Center

Redlands Bowl Amphitheatre

San Manuel Amphitheater

Loma Linda Medical Center

Citrus Plaza

Splash Kingdom Waterpark

San Manuel Stadium

San Bernardino Int’l Airport

Rialto Airfield/Speedway

Glen Helen Regional Park

Yucaipa Regional Park

Wildwood Canyon State Park

Shandin Hills Golf Club

Arrowhead Golf Club

San Bernardino Public Golf Course

Redlands Country Club

13

RIALTO MUNICIPAL AIRFIELD RIALTO AIRPORT SPEEDWAY

YUCAIPA REGIONAL PARK

215

210

1 5 9 13 17

2 6 10 14 18

3 7 11 15 19

204 8 12 16

REDLANDS COUNTRY CLUB

20

17

1

3

7

15

10

10

66

FONTANA

YUCAIPA

COLTON

LOMA LINDA

SAN BERNARDINO

NORTH TO SAN BERNARDINO MOUNTAIN COMMUNIT IES

EA

ST

TO

CO

AC

HE

LL

A V

AL

LE

Y

WE

ST

TO

RIV

ER

SID

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OU

NT

Y

SOUTH TO R IVERSIDE COUNTY

2

4

6 58

10 9

1112

14

GLEN HELEN REGIONAL PARK WILDWOOD CANYON STATE PARK

18

19

Points of Interest

Area Attractions Map: Southeast San Bernardino County

SUBJEC T SITE


Hoffman

Company

OFFERING MEMORANDUM

4Area Overview

Area Schools Exhibit

10

W OLIVE ST

W VALLEY BLVD

E LAUREL ST

N R

ANCH

O A

VE

N L

A CA

DEN

A D

R

N M

T VE

RN

ON

AVE

COLTON AVE

Abraham Lincoln Elementary

Colton Middle School

Colton High School

Abraham LincolnELEMENTARY SCHOOL | K-6

444 E Olive St,

Colton,CA 92324

(909) 580-5026

COLTON JOINT UNIFIED SCHOOL DISTRICT

ColtonMIDDLE SCHOOL | 7-8

670 W Laurel St,

Colton, CA 92324

(909) 580-5009


ColtonHIGH SCHOOL | 9-12

777 W Valley Blvd

Colton, CA 92324

(909) 580-5005


1

2

3SUBJEC T SITE

MARKETOVERVIEW

5


Hoffman

Company

OFFERING MEMORANDUM

5Market Overview

Resale Housing Market: Colton 92324

Median Listing Price

Median Days on Market

$305KMedian Listing Price

$262KMedian Closing Price

$211Price Per Sq Ft

September 2017 | Source: REALTOR.COM 13 Homes for Rent157 Homes for Sale

$350k

$300k

$250k

$200k

$150k

$100k

$50k

$0

2015 2016 2017

80

70

60

50

40

30

20

10

0

2015 2016 2017


Hoffman

Company

OFFERING MEMORANDUM

5Market Overview

J u b i l e e | F o n t a n a

Product Type: DetachedTotal Homes: 98Total Sold: 70Total Remaining: 28

Price Range: $387,290 - $405,990Price Per SF: $200 - $240Typical Lot Size: 4,000 SFHouse Size: 1,611 - 2,021 SF

HOA: n/aAvg. Mo. Sales Rate: 7.07Last 3 Mos. Sales Rate: 8.0

6 OPENED SEP 2015

Actively Selling New Home Projects: Colton & Fontana

1 C r y s t a l R i d g e I I | C o l t o n CRYSTAL RIDGE HOMES

C a m i n o P a c i f i c | F o n t a n a

C i t r u s G r o v e | F o n t a n a

A l d e r P o i n t e | F o n t a n a






Price Range: $554,439Price Per SF: $198Typical Lot Size: 5,886 SFHouse Size: 2,791 SF



HOA: $0Avg. Mo. Sales Rate: 2.13Last 3 Mos. Sales Rate: 1.0



HOA: Avg. Mo. Sales Rate: 4.03Last 3 Mos. Sales Rate: 2.0

3

4

2

SOLD OUT JUL 2017

OPENED JAN 2014

OPENED APR 2017

OPENED SEPT 2015

Data as of 09/14/17 | Source: Zonda’s Meyer ’s Research

C y p r e s s P o i n t e | F o n t a n a




5 OPENED SEP 2015


Hoffman

Company

OFFERING MEMORANDUM

5Market Overview

Actively Selling New Home Projects: Colton & Fontana

Data as of 09/14/17 | Source: Zonda’s Meyer ’s Research

V i s t a P a s e o | F o n t a n a


Price Range: $439,490Price Per SF: $226Typical Lot Size: 5,616 SFHouse Size: 1,940 SF


OPENED JAN 2014

S t o n e h a v e n | F o n t a n a

S y m p h o n y | F o n t a n a






HOA: n/aAvg. Mo. Sales Rate: 7.37Last 3 Mos. Sales Rate: 8.0

OPENED MAY 2017

OPENED NOV 2016

S i e r r a C r e s t : T h e Yo s e m i t e C o l l e c t i o n | F o n t a n a

S u m m i t C r e s t | F o n t a n a







OPENED JUL 2014

OPENED JUL 2014

7

9

8

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Southern California Office

18881 Von Karman Avenue, Suite 150

Irvine, California 92612

T 949.553.2020 | F 949.553.8449

Coachella Valley Office

777 E Tahquitz Way, Suite 200

Palm Springs, California 92262

T 760.969.7357 | F 949.553.8449

Northern California Office

2121 North California Blvd., Suite 290

Walnut Creek, California 94596

T 925.478.8429 F 949.553.8449

w w w . h o f f m a n l a n d . c o m

Nevada Office

9205 W Russell Rd, Suite 235

Las Vegas, Nevada 89148

T 702.793.4370

The

Hoffman

Company

Leading the LandBrokerage IndustryC A L I F O R N I A + N E V A D A