Subject: FW: RREAF ppt page 29 stand alone
From: "Arlene Busch" <[email-masked]>
To: "Hunter Biden" <[email-masked]>, "Eric Schwerin" <[email-masked]>
Date: Tue, 19 Jul 2011 16:17:50 -0400

Please read below…

Arlene Busch

202-333-1880

[email-masked]

*From:* Arlene Busch [mailto:[email-masked]]
*Sent:* Tuesday, July 19, 2011 4:10 PM
*To:* 'Devon Archer'
*Subject:* RE: RREAF ppt page 29 stand alone

When we were on the phone together Bill outlined the family’s timing. They
have a meeting on August 29th where they will make the formal decision. You
told him the closing needed to be by September 30th. Dan said August 20th.
Please work this out with Dan.

Arlene Busch

202-333-1880

[email-masked]

*From:* Devon Archer [mailto:[email-masked]]
*Sent:* Tuesday, July 19, 2011 4:05 PM
*To:* Arlene Busch
*Subject:* Re: RREAF ppt page 29 stand alone

I haven't spoken to Bill yet about his proposed timing. I left a msg and
expect to run thru with him this afternoon.

Devon Archer

+646 436 3745

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

On Jul 19, 2011, at 3:58 PM, "Arlene Busch" <[email-masked]>
wrote:

Thanks for sending me the email below. I presume you have shared this with
Dan, Hunter, and Eric.

When I spoke with Dan this morning, he thought there might be some timing
issues related to Bill’s funding and the closing date of Las Colinas. Please
sort this out with Dan because I don’t want to disappoint Bill once he goes
to the effort of getting this funded.

Arlene

Arlene Busch

202-333-1880

[email-masked]

*From:* Devon Archer [mailto:[email-masked]]
*Sent:* Tuesday, July 19, 2011 3:47 PM
*To:* Arlene Busch
*Subject:* Fwd: RREAF ppt page 29 stand alone

FYI

Devon Archer

+646 436 3745

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

Begin forwarded message:

*From:* Bill Hostetler <[email-masked]>
*Date:* July 19, 2011 1:52:11 PM EDT
*To:* Devon Archer <[email-masked]>
*Subject:* *RE: RREAF ppt page 29 stand alone*

Hi Devon,

Thanks for this and I look forward to you sending me info I can print
because I am traveling to our Switzerland office in the coming days. In a
intro review today--I got very strong feedback regarding Las Colinas and we
would like to see it on August 18th if possible from your end.

I also will give you a call on August 1 to measure our interest, but this
appears to fit us extremely well and I would say with 90% confidence we
would say yes and request an equity stake of $8m to $10m.

It would be great if you could give me a call today or email regarding our
needed date to get final approval and send capital.

My challenge is our team is preparing to do DD on numerous deals in front of
this one---and they are asking if we could push final approval date from our
end to the last week in September---could that be acceptable from your end?

Please let me know and thanks again for all your help, I am really excited
to build a portfolio of RE properties with you and your team.

Warm regards,

B

*Bill Hostetler*

Senior Relationship Manager

International Capital & Management Company

1600 Kongens Gade

St. Thomas, VI 00802

Ph. 340-715-5805, C. 847-208-3177, F. 340-777-1303 subaddress: 5805
------------------------------

*From:* Devon Archer [[email-masked]]
*Sent:* Tuesday, July 19, 2011 12:31 PM
*To:* Bill Hostetler
*Subject:* Fwd: RREAF ppt page 29 stand alone

Bill,

This is the slide we've done internally with the current cap rate spread
data between primary and secondary markets.  Left you a VM; we're working on
market research package for you now and let's sync up on dates when you're
free.

Best,

Devon

Begin forwarded message:

*From:* "Nicholas Nigro" <[email-masked]>
*To:* "Devon Archer" <[email-masked]>
*Cc:* "Robin Smith" <[email-masked]>
*Subject:* *RE: RREAF ppt page 29 stand alone*

Devon,

See attached.

Nic