1. Dr. Andrew Rothschild
Tucker Bartlett
September 24, 2008

2. Presentation Outline Scientific Properties background
Golden Belt overview
Lessons Learned by the Developer

3. historic textile mill campus 35 artist studios 37 live work lofts LEED-registered 30,000 SF retail 70,000 SF office

4. historic textile mill campus 35 artist studios 37 live work lofts LEED-registered 30,000 SF retail 70,000 SF office

5. historic textile mill campus 35 artist studios 37 live work lofts LEED-registered 30,000 SF retail 70,000 SF office

6. historic textile mill campus 35 artist studios 37 live work lofts LEED-registered 30,000 SF retail 70,000 SF office

7. historic textile mill campus 35 artist studios 37 live work lofts LEED-registered 30,000 SF retail 70,000 SF office

8. historic textile mill campus 35 artist studios 37 live work lofts LEED-registered 30,000 SF retail 70,000 SF office

9. historic textile mill campus 35 artist studios 37 live work lofts LEED-registered 30,000 SF retail 70,000 SF office

10. The Structure

11. Tucker’s Top 10 Closing Lessons The Speed Points
Select the right team
Accountant, lawyer, architect (or historic consultant), lender (and lender’s lawyer), title insurance
Don’t let your “to do’s” slow the process
Start survey, appraisal, insurance asap
Set a hard closing date, mini-milestones, and weekly check-ins
Stay involved and try to understand the issues

12. Tucker’s Top 10 Closing Lessons The Other Points
Don’t be afraid to challenge the professionals
Don’t let the structure drive business decisions
Don’t let the structure create taxable income
Don’t let the structure let cash out of the deal
Negotiate a cap on the legal expenses you pay on behalf of your investor and lender

13. Think About the Future Ongoing Concerns
Ongoing accounting fees- limit the number of audits and tax returns required
Get your accounting and reporting processes set up right away
Write a memo to yourself explaining the transaction in your own words right after closing

14. Think About the Future Exit Concerns
Think of legal incentives as well as financial to push your investor to leaver after five years
Understand tax consequences of the exit
Are any funds structured as loans that will be forgiven
32/39ths- negative amortization; who pays the taxes?

15. Dr. Andrew Rothschild Tucker Bartlett Chief Operating Officer