East Cambridge Courthouse 40 Thorndike Street

Cambridge, MA

June 18, 2012 Community Overview

Investment Real Estate

About Bulfinch

• Founded in 1936 by Samuel Poorvu, “The Post Office King of America”

• Third generation real estate business:

• Eric Schlager, CEO

• Robert Schlager, President

• Commercial real estate development, acquisition, investment & management

• Primary focus on office, medical office, biotech & R&D

• Value Creation through renovation, repositioning, development & market timing

• Bulfinch has developed, acquired, and repositioned in excess of $1 billion of commercial real estate

Investment Real Estate

About Bulfinch

• Long term ownership of quality commercial real estate assets

• Build to own

• Long history in Cambridge dating back to the early 1950’s

• Active developer of more than 1 million SF of Cambridge development & acquisitions

• Recipient of Certificate of Preservation Merit from City of Cambridge

• Recipient of Go Green Award from City of Cambridge

• 2007 NAIOP Developer of the Year award recipient

• Member of U.S. Green Building Council

Investment Real Estate

Investment Real Estate

East Cambridge Courthouse Proposal

• Proposing a much less intense use than a 24/7 residential redevelopment

• Approximately 500,000 square feet of office and retail use

• Approximately 400 parking spaces

• Local developer with long history of working successfully with community

Investment Real Estate

Responsive to Community Needs

• Guided by findings of Cambridge Community Development Survey

• Activate the streetscape:

• Hub bikeway

• Restaurants

• Pharmacy

• Small businesses

• Ground-floor community center for residents and tenants

• Mitigate community concerns over asbestos, wind tunnel effect, and night lighting

Investment Real Estate

Additional Community Features • Commitment to sustainable building practices

• Building will be state-of-the-art with LEED-certified energy efficiency

• Union construction

• Extensive new landscaping, pedestrian benches, gathering spaces and sidewalk and other pedestrian improvements

• Coordination of pedestrian, vehicular, and bicycle circulation, upgrading of roadway improvements for improved convenience and safety

• Paid internships to no less than 25 students

• Priority to Cambridge residents

• Offering practical work experience in construction, real estate, architecture & brokerage

Investment Real Estate

Cambridge Courthouse – Office & Retail

Cambridge Courthouse – Office & Retail

Cambridge Courthouse – Office & Retail

• Successful 76-year history as real estate investor/developer/manager

• Long-term commitment to Cambridge

• Successful track record of landlord/tenant/community partnerships

• Known for respectful development that enhances neighborhoods

• Office/retail use that fits with community needs and desires

The Bulfinch Edge

Investment Real Estate