Global Capital Markets Advisors

Manager of Funds Generating Attractive Risk Adjusted Returns from a Diversified  Portfolio

GCMA believes that the real estate in the premier markets of the United States, particularly within the Washington, DC metropolitan region which includes the Capitol Area Regional Center, will support substantial investment by GCMA managed Funds in numerous development and re-development projects. As a result, GCMA is targeting development and re-development opportunities that have attractive risk-reward characteristics and that meet its core investment requirements.

One example of a development project that, if successfully developed, appears to meet our investment criteria and that is planned for development within is located within Washington, DC, approximately .75 miles south of the US Capitol Building. Phase I of this planned multi-phase project is expected to be developed at an estimated total cost of $1.4 billion and, if completed as planned, will contain over 8.0 million square feet of newly constructed residential, retail and office space, a large outdoor sports and entertainment complex, an adjacent hotel and conference center, and various above and below ground parking and other infrastructure. Based on a preliminary economic impact and planning report completed by a leading economic consultant, GCMA believes that this project could create in excess of 8,000 direct and indirect jobs.

Another example involves the redevelopment of one of Washington’s most recognizable and internationally well known mixed use properties. Its current owner is planning on a major renovation to the property, including a full upgrade of the interiors and infrastructure within the complex, which is comprised of over 185,000 square feet of office, residential and hotel space overlooking the Potomac River. According to The Development Report-2006/2007 Edition, published by the Washington, DC Economic Partnership, the owner planned redevelopment of the Project will entail $100 million in renovations. GCMA has issued a commitment to the owner to permit investment by a GCMA managed Fund in the substantial renovation and rebranding of  a new luxury hotel, as well as the renovation and conversion of some of the existing hotel units for resale as luxury condominiums.

Yet another targeted development is a $1 billion mixed use project that is scheduled to begin construction in 2008 in downtown Washington, DC in partnership with the Government of the District of Columbia. The development rights to the property were awarded by the District of Columbia to a team led by internationally recognized co-developers in cooperation with architects and planners whose previous work has brought them international acclaim. Plans for the project currently include 275,000 square feet of retail space; 450,000 square feet of Class A office; over 600 units of rental and for-sale residential housing; pedestrian and civic open air spaces and public and private underground parking facilities.