EMAIL DETAILS

Zhiwei,
Walton is good example of a fund manager that will look at secondary markets. In fact we have a good relationship there and they have, and continue to approach us for deal-flow. They are not as focused nor have the specific expertise, experience or track record in an office specific strategy however.

Gem Realty is another player in Walton and our league that will look at Secondary markets but with more pronounced 'value add' / risk appetite. Because of our large local footprint and market understanding they approach us for deal-flow as well.

There are other fund or fund-of-fund backed JV's, localized players and one off's pursuing a similar strategy but no one has the office only institutional approach at a national level in our opinion. Not to mention the track record in execution through multiple cycles.

So in short, the strategy is validated with a number of other investors pursuing the opportunity but we think we're the best positioned and organized to execute the strategy with scale.

Best,
D -

Devon Archer
+646 436 3745

Please excuse typos as this message was sent from my handheld device.

On Jul 14, 2011, at 2:21 AM, "caizhiwei@china-inv.cn<mailto:caizhiwei@china-inv.cn>" <caizhiwei@china-inv.cn<mailto:caizhiwei@china-inv.cn>> wrote:


Devon

For the moment, I think the info you uploaded is sufficient enough. I am reading through them. A quick one from me now is that apart from yourself, any other names you can think about doing similar strategies in US? Guess Walton Street would be one from the league table. They had referred some secondary market office opportunities to us before.

Tks.

Zhiwei

******************************************
Cai Zhiwei(才智伟)
Director
Real Estate Investment
Private Market Department
China Investment Corporation
Tel: +86-10-84096752
Floor 6, New Poly Plaza, Beijing, 100010
******************************************


发件人: Devon Archer <darcher@rosemontcapital.com<mailto:darcher@rosemontcapital.com>>
收件人: "caizhiwei@china-inv.cn<mailto:caizhiwei@china-inv.cn>" <caizhiwei@china-inv.cn<mailto:caizhiwei@china-inv.cn>>
抄送: Caryn Suffredini <csuffredini@thorntonai.com<mailto:csuffredini@thorntonai.com>>, Daniel Burrell <dburrell@rosemontrealty.com<mailto:dburrell@rosemontrealty.com>>
日期: 2011-07-14 12:42
主题: Re: 答复: Re: 答复: Rosemont Acquisitions Portfolio

________________________________


Zhiwei,
Thank you again for your feedback. The open dialogue is very important to us and we covet the relationship with you and CIC. Please advise, on a realtime basis, what general information we can be providing and any specific items we can add to the Rosemont diligence website, to assist you in your continued research of our market. The more we can do to enable your expertise across our markets the clearer and more compelling the opportunities we're presenting to your will be.

As a quick follow-up, on the small piece of the current pipeline we shared with you—do you consider Chicago and Dallas as unfamiliar, and thereby off limits to date? We shared those properties specifically because of the name recognition of the cities and to quell any future market liquidity concerns.

I suggest we schedule a quick call in the coming weeks to answer very directly any US secondary market questions you may have to complement your analysis.

All the Best,
Devon

From: Zhi-Wei Cai <caizhiwei@china-inv.cn<mailto:caizhiwei@china-inv.cn>>
Date: Mon, 11 Jul 2011 23:38:37 -0400
To: Devon Archer <darcher@rosemontcapital.com<mailto:darcher@rosemontcapital.com>>
Cc: Caryn Suffredini <csuffredini@thorntonai.com<mailto:csuffredini@thorntonai.com>>, Daniel Burrell <dburrell@rosemontcapital.com<mailto:dburrell@rosemontcapital.com>>
Subject: 答复: Re: 答复: Rosemont Acquisitions Portfolio


Devon

Tks for the follow up note.

Actually, I have to say I did spent some time on reading your investment memos on the 3 office properties attached with your last mail and that led to my conclusion that the portfolio doesn't fit our current US office investment strategy quite well. Currently, we stay focused on the primary markets.

As for this time's 3 pipeline projects, I think the profiles are pretty much similar to the last 3 ones especially from the location stand point.

I really appreciate your efforts of putting things together for our benefits of understanding better the US secondary office markets, your strategy and etc. which I think are quite useful to us and would like to do more research and analysis about the strategy going forward. So pls. stay tuned and feel free to share with us the relevant know-how and opportunities you are seeing from the market.

Thank you again for all the efforts.

Best

Zhiwei

******************************************
Cai Zhiwei(才智伟)
Director
Real Estate Investment
Private Market Department
China Investment Corporation
Tel: +86-10-84096752
Floor 6, New Poly Plaza, Beijing, 100010
******************************************

发件人: Devon Archer <darcher@rosemontcapital.com<mailto:darcher@rosemontcapital.com>>
收件人: "caizhiwei@china-inv.cn<mailto:caizhiwei@china-inv.cn>" <caizhiwei@china-inv.cn<mailto:caizhiwei@china-inv.cn>>
抄送: Caryn Suffredini <csuffredini@thorntonai.com<mailto:csuffredini@thorntonai.com>>, Dan Burrell <dburrell@rosemontcapital.com<mailto:dburrell@rosemontcapital.com>>
日期: 2011-07-11 21:26
主题: Re: 答复: Rosemont Acquisitions Portfolio


________________________________


Thank you kindly Zhiwei for the prompt feedback.

Could you take a quick minute to review the properties on the Rosemont extranet that we prepared for you which should give you a sense of pipeline; and let me know if those meet your strategy. I would be interested in more commentary on propertiesthat better meet your strategy since our last meeting with Patrick in Beijing and our subsequent conference call. I think browsing the background will illustrate more pipeline and should calm your equity sizing concern as well.

Below is the login information to the CIC-Rosemont website containing:

* Secondary & Tertiary Market Research;
* Rosemont’s Current Deal Pipeline;
* Rosemont’s Recent Transactions in the Market;
* Rosemont’s Investment Track Record and Best Practices Report;
* Marketing & Legal Documents for Rosemont’s RREAF Office Investment Program;
* Lessons from the U.S. Financial Crisis of 2007-2009 and a Case Study of an Underperforming Rosemont Transaction

Website: https://rosemontrealty.sharefile.com<https://rosemontrealty.sharefile.com/>/
Username: cic@rosemontrealty.com<mailto:cic@rosemontrealty.com>
Password: VS13CM1C (all in caps)
-----------------------------------------------------------------

All the Best,
Devon
www.rosemontrealty.com


From: Zhi-Wei Cai <caizhiwei@china-inv.cn<mailto:caizhiwei@china-inv.cn>>
Date: Thu, 7 Jul 2011 02:51:36 -0400
To: Devon Archer <darcher@rosemontcapital.com<mailto:darcher@rosemontcapital.com>>
Subject: 答复: Rosemont Acquisitions Portfolio


Devon

Tks for the referral. But I have to say the portfolio doesn't quite fit our strategy for US office investment at the moment.

Zhiwei

******************************************
Cai Zhiwei(才智伟)
Director
Real Estate Investment
Private Market Department
China Investment Corporation
Tel: +86-10-84096752
Floor 6, New Poly Plaza, Beijing, 100010
******************************************
发件人: Devon Archer <darcher@rosemontcapital.com<mailto:darcher@rosemontcapital.com>>
收件人: "caizhiwei@china-inv.cn<mailto:caizhiwei@china-inv.cn>" <caizhiwei@china-inv.cn<mailto:caizhiwei@china-inv.cn>>
抄送: Daniel Burrell <dburrell@rosemontrealty.com<mailto:dburrell@rosemontrealty.com>>, Caryn Suffredini <csuffredini@thorntonai.com<mailto:csuffredini@thorntonai.com>>, James Bulger <jbulger@thorntonai.com<mailto:jbulger@thorntonai.com>>, Robin Smith <rsmith@rosemontrealty.com<mailto:rsmith@rosemontrealty.com>>
日期: 2011-07-06 22:28
主题: Rosemont Acquisitions Portfolio


________________________________


Dear Zhi Wei:

Per your discussions with Caryn, we have prepared the following detailed investment memorandums for your consideration. The attached portfolio comprises 1.674 million square feet of multi-tenant office space, a $220 million acquisition price, and a $69.26 million total equity investment. The weighted average capitalization rate of the portfolio is 8.85%, the weighted average price psf is $131, and the weighted average occupancy is 89.21%. We would welcome CIC’s participation in Rosemont’s acquisition of these assets and CIC’s involvement in our due diligence process. Preliminarily, we would like to have a high level discussion with you to gauge whether these assets are of interest to CIC.

----------------------------------------

I also wanted to remind you that China Investment Corporation (“CIC”) has requested that Rosemont Realty, LLC (“Rosemont”) provide background research and resources to assist in the evaluation of Rosemont’s current investment strategy. The information and research that has been prepared is located on a secured online electronic file sharing system. Instructionsare provided below to access the system.

The materials contained within the shared file focus on a) Secondary & Tertiary Market Research; b) Rosemont’s Current Deal Pipeline; c) Rosemont’s Recent Transactions in the Market; d) Rosemont’s Investment Track Record and Best Practices Report; e) Marketing & Legal Documents for Rosemont’s RREAF Office Investment Program; f) Lessons from the U.S. Financial Crisis of 2007-2009 and a Case Study of an Underperforming Rosemont Transaction.

We look forward to your feedback on these documents and hope that they will assist CIC in further understanding Rosemont’s investment strategy and unique position in the market.

There is a substantial amount of information provided so we suggest that you first read the executive summary in each section prior to reviewing the specific data. If you should have any questions or comments as you review the material and prepare your internal analysis, please do not hesitate to contact us.

Below is the login information to this website:

Website: https://rosemontrealty.sharefile.com<https://rosemontrealty.sharefile.com/>/
Username: cic@rosemontrealty.com<mailto:cic@rosemontrealty.com>
Password: VS13CM1C (all in caps)
-------------------------------------------

Please let me know if we can schedule a conference call to further discuss this investment portfolio opportunity July 19th at 9am Beijing time. Many thanks.

Sincerely,

Devon


Devon D. Archer

Executive Director

401 Greenwich St | New York, NY 10013 // 330 Garfield St | Santa Fe, NM 87501

212.933.9974 office | 646.436.3745 mobile | 505.982.2515 fax


[附件 "Summary Page.pdf" 被 才智伟/CIC 删除][附件 "The Summit at Las Colinas_Rosemont Potential Acquistion.pdf" 被 才智伟/CIC 删除][附件 "208 South LaSalle_Rosemont Potential Acquistion.pdf" 被 才智伟/CIC 删除][附件 "One & Two Warren Place_Rosemont Potential Acquistion.pdf" 被 才智伟/CIC 删除]


________________________________


本邮件内容包含保密信息。如阁下并非拟发送的收件人，请您不要阅读、保存、对外披露或复制本邮件的任何内容，或者打开本邮件的任何附件。请即回复邮件告知发件人，并立刻将该邮件及其附件从您的电脑系统中全部删除，不胜感激。


This email message may contain confidential and/or privileged information. If you are not the intended recipient, please do not read, save, forward, disclose or copy the contents of this email or open any file attached to this email. We will be grateful if you could advise the sender immediately by replying this email, and delete this email and any attachment or links to this email completely and immediately from your computer system.

________________________________


________________________________


本邮件内容包含保密信息。如阁下并非拟发送的收件人，请您不要阅读、保存、对外披露或复制本邮件的任何内容，或者打开本邮件的任何附件。请即回复邮件告知发件人，并立刻将该邮件及其附件从您的电脑系统中全部删除，不胜感激。


This email message may contain confidential and/or privileged information. If you are not the intended recipient, please do not read, save, forward, disclose or copy the contents of this email or open any file attached to this email. We will be grateful if you could advise the sender immediately by replying this email, and delete this email and any attachment or links to this email completely and immediately from your computer system.

________________________________


________________________________


本邮件内容包含保密信息。如阁下并非拟发送的收件人，请您不要阅读、保存、对外披露或复制本邮件的任何内容，或者打开本邮件的任何附件。请即回复邮件告知发件人，并立刻将该邮件及其附件从您的电脑系统中全部删除，不胜感激。


This email message may contain confidential and/or privileged information. If you are not the intended recipient, please do not read, save, forward, disclose or copy the contents of this email or open any file attached to this email. We will be grateful if you could advise the sender immediately by replying this email, and delete this email and any attachment or links to this email completely and immediately from your computer system.


________________________________