Track Record Information

S-J Management LLC -

HIGHLIGHTS

S-J Management LLC, a real estate investment, brokerage and property management firm with offices in Seattle, Phoenix and Las Vegas, completed approximately $1,000,000,000 worth of transactions during the past three years.  Among the highlights:

VILLAS AT CAMELBACK ASSOCIATES L.L.C.

On December 18, 2006, Villas at Camelback Associates L.L.C., a limited liability company formed by S-J Management LLC, completed the sale of The Villas at Camelback Crossings Apartments in Glendale, Arizona (the "Property"). 

This sale was notable for several reasons:

• The Property was purchased in December, 2005, at a purchase price of $45,500,000, or $90,278 per unit.
• Within less than three months, a purchase and sale agreement had been entered into for the sale of the Property (to occur in December, 2006), at a sale price of $62,750,000, or $124,504 per unit. 
• The financing associated with the acquisition of the Property enabled the investment to utilize the benefits of leverage - that is, equity contributions for the acquisition of the Property totaled $3,500,000, and the balance of the funds required were obtained through loans that were repaid upon the sale of the Property.  The sale proceeds were such that, over a one-year holding period,  the return on investment equaled 182% OF THE AMOUNT INVESTED.

This transaction demonstrates very dramatically what S-J tries to achieve with each of the companies it forms and the acquisitions those companies make:  (1) identify and acquire properties that are currently undervalued in their market and position them for resale, and (2) use financing as a leveraging tool to maximize the returns on the equity investments made.

For additional information about S-J Management please contact Michael J. Sauter at msauter@sjm.biz or (206) 365-7900.

Past performance is not a guarantee of future results.

• February 2004 - Acquired the 180 unit Mandarina Apartments in Phoenix, AZ for $15,475,000.
• April 2004 - Acquired the 185 unit Belaflora Apartments in Phoenix, AZ for $16,100,000.
• July 2004 - Sold the 103 unit East Empire Gardens Apartments in Federal Way, WA for $6,430,235.
• August 2004 - Acquired the 22,749 square foot Biltmore Lakes Office Building located in the Camelback Corridor of Phoenix, AZ for $4,200,000.
• August 2004 - Sold the 108 unit Park 128 Apartments in Everett, WA for $6,850,000.
• November 2004 - Acquired the 257 unit Monterra Apartments in Phoenix, AZ for $18,160,000.
• February 2005 - Sold the 108 unit Meadowdale Apartments in Lynnwood, WA for $6,920,000.
• February 2005 - Sold the 156 unit Brierwood Manor Apartments in Everett, WA for $7,650,000.
• March 2005 - Sold the 190 unit Westhaven Apartments in Seattle, WA for $13,595,000.
• April 2005 - Sold the 464 unit Glen Park at West Campus Apartments in Federal Way, WA for $36,500,000.
• April 2005 - Sold  the 157 unit Amberview Apartments in Auburn, WA for $11,250,000.
• May 2005 - Sold the 98 unit Creekwood Apartments in Des Moines, WA for $5,925,000.
• May 2005 - Sold the 170 unit Ventura Vista Apartments in Phoenix, AZ for $16,700,000.
• July 2005 - Sold the 352 unit Covington Farms Apartments in Everett, WA for $25,650,000.
• August 2005 - Sold the 22,749 square foot Biltmore Lakes Office Building located in the Camelback Corridor of Phoenix, AZ for $4,950,000.
  September 2005 - Acquired the 480 unit MonteViejo Apartments in Phoenix, AZ for $50,500,000.
• October 2005 - Sold the 126 unit North Meadows Apartments in Everett, WA for $7,200,000.
• December 2005 - Acquired the 435 unit MonteVerde Apartments in Phoenix, AZ for $47,000,000.
• December 2005 - Acquired the 504 unit Villas at Camelback Crossing Apartments in Glendale, WA for $45,500,000.
• February 2006 - Sold the 185 unit Belaflora Apartments in Phoenix, AZ for $21,275,000.
• April 2006 - Sold the 180 unit Mandarina Apartments in Phoenix, AZ for $20,500,000.
• April 2006 - Sold the 225 unit Pointe at Redondo Apartments in Federal Way, WA for $21,250,000.
• April 2006 - Sold the 258 unit Monterra Apartments in Phoenix, AZ for $22,075,000.
• May 2006 - Acquired the 272 unit San Ventura Apartments in Chandler, AZ for $33,000,000.
• May 2006 - Acquired the 629 unit The Canyons Apartments in Phoenix, AZ for $81,000,000.
• August 2006 - Acquired the 258 unit Desert Mirage Apartments in Gilbert, AZ for $34,382,245.
• August 2006 - Acquired the 134 unit Montana Apartments in Phoenix, AZ for $15,710,000.    *NOTE: This property is scheduled for sale on or about December 21, 2007 for $20,000,000.
• September 2006 - Acquired the 200 unit Springs at Alta Mesa Apartments in Mesa, AZ for $26,300,000.
• September 2006 - Acquired the 196 unit Springs at Continental Ranch Apartments in Tucson, AZ for $21,864,000.
• November 2006 - Acquired the 272 unit Augusta Apartments in Las Vegas, NV for $38,956,375.
• December 2006 - Sold the 504 unit Villas at Camelback Crossing Apartments in Glendale, AZ for $62,750,000.
• February 2007 - Sold the 480 unit MonteViejo Apartments in Phoenix, AZ for $59,500,000.
• March 2007 - Acquired the 340 unit Sienna at Riverview Apartments in Mesa, AZ for $46,850,000.
• April 2007 - Acquired the 240 unit La Reserve Villas Apartments in Tucson, AZ for $28,650,000.
• May 2007 - Sold the 272 unit San Ventura Apartments in Chandler, AZ for $41,000,000.
• June 2007 - Acquired the 238 unit Bear Canyon Apartments in Tucson, AZ for $30,000,000.
• July 2007 - Acquired the 304 unit Retreat at Speedway Apartments in Tucson, AZ for $34,650,000.

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