LONE STAR COMPANIES OF DALLAS CORPORATE INFORMATION

Transcription

1 LONE STAR COMPANIES OF DALLAS CORPORATE INFORMATION Dallas Parkway #101 Dallas, TX

2 Table of Contents I Company Profile A. Overview of Business B. Services Provided II History/Corporate Strategy III Development, Project Management and Construction A. Current Activities B. Additional Activities IV Summary of Completed Projects A. Construction Projects B. Development Projects V VI VII Personnel References Affiliates

3 Company Profile Overview of Business Lone Star Companies of Dallas (LSC), LLC is a privately held real estate company which focuses on premier properties that create value for investors, clients, partners, and owners. LSC offers real estate development, general contracting, project management, and structured finance services in multifamily housing, townhomes, assisted living, and commercial markets. LSC's Capital Division structures debt, equity, and guaranty needs for LSC projects. This division works with both individuals and institutional funds to create solid acquisition, development, and disposition strategies. LSC s Contracting Division has more than 2,300 multifamily housing units in process in Houston, Manvel, and Frisco, Texas. This division has completed more than 2,500 units in Dallas, Houston, Conroe, Austin, Round Rock, Allen, Frisco and Lewisville, Texas. All projects were completed on time and within budget. LSC s Development Division completed a 160 acre mixed use development in Bentonville, Arkansas with partner LandPlan of Frisco, Texas. Currently, LSC is developing Village of Frisco Square, a 500 lot residential development in Frisco, Texas and Flagstone Corners, an office park in Rockwall, Texas. Additionally, LSC is marketing and developing more than 1,000 acres in the 288 Corridor of Houston, Texas with partner, LyBrand Commercial (Lybrand-LSC, LLC.). Other projects are under contract with feasibility and financial arrangements pending in Rowlett, Pearland, and Dallas. LSC s Luxury Home Division will construct and market over 500 town homes and condominiums at Village of Frisco Square. LSC and partner RCHS

4 Investments own a 30 acre tract at Frisco Square, are assessing market conditions and plans are currently on hold. LSC s Senior Housing Division develops and constructs assisted living residences. Pursuant to an agreement with Country Place Living, LLC, the division will develop and construct Country Place Senior Living Residences throughout the state of Texas. The division will purpose to utilize attractive bank financing guaranteed in part by the U.S.D.A. Site selection has begun and ground breaking on the first locations will begin in the spring of Services Provided Lone Star Companies of Dallas offers services of real estate development, general contracting, project management, and structured finance services in multifamily, townhome, condominium, assisted living and commercial markets. All services are designed to enhance communities while creating additional value for investors, clients, and partners. The scope of services is to: Identify potential development sites Arrange for or provide financing Negotiate and contract with sellers Oversee planning, zoning, engineering, platting, and architecture Provide general contracting and project management Market and sell completed products Provide brokerage services Offer ultimate resale and final disposition services Provide asset management through stabilization and sale

5 History/Corporate Strategy Lone Star Companies of Dallas has a history of quality and performance that has led to an excellent professional reputation as a general contractor, project manager, and developer. Strategic alliances with financial partners and industry professionals have allowed us to meet and exceed our financial goals. Our ability to complete all projects on time and under budget continues to be a contributing factor in our growth. LSC's corporate strategy is to: Foster alliances with investors, partners, and industry professionals to advance the continued growth of LSC Attract additional capital to create new projects and to enhance the value of those projects for the investor Maintain a professional staff in order to complete all projects on time and in budget Preserve and build upon the reputation as having the experience and expertise to develop investment grade multifamily and mixed use projects

6 Development, Project Management and Construction Current Activities Town homes, Stacked Flats and Condominiums - Frisco, Texas LSC has started the development of Village of Frisco Square, a residential development in Frisco, Texas. LSC will develop lots and design, build and market over 500 luxury town homes, stacked flats and condominium units. The estimated sales value of the completed project is $150,000,000. In partnership with RCHS Investments, LSC owns the land and plans are on hold based on current market conditions. Park Avenue at Boulder Creek (496 apartment units) - Houston, Texas Development is complete and construction started in the summer of This two phase project is located at the corner of Beltway 8 and Pearland Parkway in Houston, Texas. The project cost is approximately $43,000,000 with a completed value at stabilization of approximately $47,000,000. Lebanon Ridge (684 apartment units) - Frisco, Texas This two phase apartment project began construction in the fall of The property is located at the SE corner of Lebanon and Teel in Frisco. The project cost is approximately $62,000,000 with a completed value at stabilization of approximately $73,000,000.

7 Cobblestone Park Phase II (270 apartment units) - Houston, Texas Cobblestone Park II is the second phase of a 562 unit project. This project is located 15 minutes south of Texas Medical Center, the largest medical facility and medical research center in the southwest. Phase 2 construction started in August of The total project cost is approximately $26,000,000 with a value at stabilization of approximately $31,000,000. Kensington Crossings (254 apartment units) - Houston, Texas The project consisting of 254 garden style apartments is located at Philippine and Beltway 8 on the west side of Houston, Texas. Construction commenced in January 2008 and this project has a projected total cost of $24,000,000 and a value at stabilization of $30,000,000. A 160 Acre Planned Unit Development - Bentonville, Arkansas LSC and an investor group are developing THE CORNERS, a Planned Unit Development located at the Southeast corner of SR-12 and SR-112 in Bentonville, Arkansas. THE CORNERS will consist of multifamily, office, and retail and estimated cost is $26,000,000. Infrastructure is complete on phase I and 20% of the development is sold.

8 Flagstone Corners Office Park - Rockwall, Texas LSC and an investor group are developing an acre tract located in Rockwall, Texas at the Southeast corner of Ralph Hall Pkwy and Mims Road. Flagstone Corners will consist of multiple pads sites suitable for small office or retail buildings or bank use. This site is in close proximity to major retail, Interstate 30 and Lake Ray Hubbard. CR 518 &521 Pearland, Texas Lybrand-LSC and Chicago based Strategic Capital Partners have teamed up to acquire a 9.6 acre commercial tract located in Pearland, TX at the Southeast corner of CR 518 & 521. Lybrand- LSC will subsequently be marketing the property for its future disposition and anticipated development will commence in the spring of Additional Activities Lone Star Companies of Dallas is currently involved in pre-development and due diligence activities on several other proposed projects in the Dallas and Houston metropolitan areas as well as assisted living facilities in rural communities throughout Texas. These projects are in various stages of development.

9 Summary of Completed Projects Construction Projects Fountains of Conroe (270 apartment units) - Conroe, Texas Fountains of Conroe apartments were completed in January, The site is located in NW Conroe at N Loop 336W and W Davis Street. The total project cost was approximately $26,000,000, with an estimated value at stabilization of $31,000,000. Hidden Creek (244 apartment units) - Allen, Texas Hidden Creek apartments were completed in August, The site is located in the southwest quadrant of McDermott and Watters Road in the center of the fast developing Allen/McKinney market to the north of Dallas, Texas. The total project cost was approximately $20,000,000, with a value at stabilization of approximately $24,000,000. Cobblestone Park (292 apartment units) - Houston, Texas Cobblestone Park is the first phase of a project completed by LSC in March of This project is located 15 minutes south of The Texas Medical Center, the largest medical facility and medical research center in the southwest. The total project cost is approximately $23,000,000 with a value at stabilization of approximately $30,000,000.

10 Completed Construction Projects (continued) The Bluffs at Vista Ridge (272 apartment units) - Lewisville, Texas The Bluffs at Vista Ridge is the second phase of a project completed by LSC in March of This project is directly across the street from the initial project, Limestone Ranch at Vista Ridge. The Bluffs cost approximately $20,700,000 and has an estimated market value of $24,500,000. The Bluffs was completed in 2005 with LSC serving as project manager, general contractor, and developer. Limestone Ranch at Vista Ridge (252 apartment units) - Lewisville, Texas In 2001 The Company was retained by a real estate investment trust to develop and construct the project on land already owned by the trust. Total project cost was approximately $16,250,000 with an estimated value of approximately $19,000,000. The project was completed in 9 months. The Company served as project manager, general contractor, and developer. Limestone Canyon Apartments (260 apartment units) - Austin, Texas In January 1998 The Company purchased the land for this project. Construction began in August 1998 and was completed in December of The total development cost was approximately $15,500,000. The Company served as project manager, general contractor, and developer receiving ownership interest as a bonus.

11 Completed Construction Projects (continued) Limestone Ranch Apartments (512) apartment units - Round Rock, Texas In 1996 The Company in conjunction with Hunt Capital Group, L.L.C. (an affiliate of the Lamar Hunt Family) developed 512 apartment units north of Austin, Texas. Total project cost was approximately $28,250,000 and was sold in February 1999 for $33,500,000. The Company served as project manager, general contractor, and developer. Limestone Ranch at the Crossroads (256 apartment units) - Houston, Texas In June 1997 The Company purchased land for this project located at Highway 290 and Highway 1960 in Houston, Texas. This HUD 221(d) (4) project cost approximately $14,350,000. The Company served as project manager, bonded general contractor, and developer. Ladera Condominiums (83 condominium units) - Austin, Texas Construction began in May 1997 and was completed by the summer of All units sold by July 31, 1999 resulting in total sales exceeding $12,000,000. The Company served as project manager, general contractor, marketer and developer.

12 Completed Development Projects The Corners 160 Acre Planned Unit Development - Bentonville, Arkansas Spicewood Springs Lot Development - Austin, Texas Glen Lakes (83 lots) - Dallas, Texas Limestone Creek (200 apartment units) - Austin, Texas Hunter s Creek (113 Lots) - Carrollton, Texas Hidden Lake Estates (117 Lots) - Grapevine, Texas The Woods and The Creek at Lake Forest (176 lots) - Flower Mound, Texas Whispering Meadows (101 Lots) - Arlington, Texas Glade Meadows (35 Lots) - Grapevine, Texas

13 Personnel Lone Star Companies of Dallas has a dedicated team of real estate and construction professionals. Our team of progressive and productive individuals designs all services to enhance communities while creating additional value for investors, clients, and partners. To reach one of our dedicated professionals, call (972) Bill Boyd President Shayne Whitehead Vice President Chief Operating Officer Eldon Frost, CPA Vice President Chief Financial Officer Greg Minton Vice President Construction Larry Crosby Vice President Development Charles Anglin Vice President - Structured Finance Russell Moore Construction Project Manager Multifamily Projects Wes Graves Construction Project Manager For Sale Projects Douglas Nguyen Assistant Project Manager- Multifamily Projects Laura Brundett Construction Administrator Shawn Delaney Corporate Comptroller

14 References Partners and Investors Consultants RCHS Investments James W. Whitehead 6116 Southern Knoll Drive Dallas, TX Lybrand Commercial Julio Lybrand 2645 CR 59 Pearland, TX Strategic Capital Partners Robert J. Bollhoffer 230 W. Monroe Street, Suite 2630 Chicago, IL Robb Barker, CPA Robb Barker, CPA 8111 LBJ Freeway, Suite 835 Dallas, Texas Higier Allen & Lautin, P.C. Robert M. Allen, Esq Keller Springs Suite 600 Addison, TX Barragan, Martinez & Walls, Inc David W. Walls, P.E. 615 Small Hill Drive, Suite 112 Grand Prairie, TX Country Place Living (817) Jack West 1333 Corporate Drive, Suite 206 Irving, TX 75038

15 Affiliates (Partners and Investors in selected ventures) RCHS INVESTMENTS, LLC In 2007, LSC established an affiliation with RCHS. This relationship created a framework through which RCHS will provide credit enhancement services as well as equity capital for certain projects and developments initiated by either LSC or RCHS. Jim Whitehead, Principal-Manager LYBRAND COMMERCIAL (LybrandCommercial.com) In 2008, LSC established a partnership with LyBrand Commercial, a Houston based Real Estate Brokerage, Investment, and Development Company. This partnership (Lybrand-LSC, LLC.) created a framework through which over 1000 acres in the Houston metropolitan area will be marketed and developed along the 288 Corridor in the cities of Pearland and Manvel. Julio Lybrand, President STRATEGIC CAPITAL PARTNERS (StrategicCapitalPartners.net) In 2008, LSC established an affiliation with Strategic Capital Partners. This relationship created the framework through which Strategic Capital Partners will provide equity capital for certain 288 Corridor projects and developments initiated either by Lybrand-LSC or Strategic Capital Partners. Richard H. Hurd, President and Chief Investment Officer Robert J. Bollhoffer, Vice President- Acquisitions

16 COUNTRY PLACE LIVING (CountryPlaceLiving.com) In 2008, LSC established an affiliation with Country Place Living. Pursuant to an agreement with Country Place Living LSC will develop and construct Country Place Senior Living Residences throughout the state of Texas. The division will purpose to utilize attractive bank financing guaranteed in part by the U.S.D.A. Jack West, Chief Executive Officer