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I think we can do it but we need a professional on our side to spearhead the effort. Mahony is point from an internal, match capabilities with property, opportunity assessment on a property level, make the overall numbers work kind of deal. Let's discuss how we resource it.


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-----Original Message-----
From: Eric Schwerin <eschwerin@rosemontseneca.com>
Date: Tue, 9 Nov 2010 23:00:28
To: Hunter Biden<hbiden@rosemontseneca.com>; Devon Archer<darcher@rosemontseneca.com>
Subject: Real Estate Retrofitting

Keep getting hit back in the face with real estate retrofitting
ideas/opportunities and while I don't want to mess up the momentum on the
overall fundraising plan for Realty was thinking how to tackle this. Devon,
is there a way to set up an additional fund along side what we are doing for
Realty that would go to retrofitting (primarily for Realty but potentially
also for other opportunities like Kenny/Chicago). Seems that if we are
going out raising for Realty we could also raise a small side fund that
would be used for retrofitting. (Or can we just dedicate part of the money
raised for Realty for that purpose?) Again, this may be too much work, but
it seems to me it would be a shame to have to go back and raise for a
retrofitting effort while we could do both at the same time.

I think there is a way to get Chafe involved which could be give us some
intellectual firepower on this (maybe in partnership with someone else). In
addition, after my talk with SmartSynch today, I think they could be helpful
with the idea that we are going to use their equipment of course. Finally,
speeding the effort up could press Kenny/McKinstry a little.

I am the first one to criticize others when I think we are biting off more
than we can chew and expending too many resources when we don't need to be
distracted from a perfectly good effort on Realty, but just wanted to throw
it out there as I had probably four conversations today where this came up.

Thoughts?


--
Eric D. Schwerin
Rosemont Seneca Partners
(202) 333-1880
eschwerin@rosemontseneca.com