david gould - investment, asset and development real estate services

Land Use

Investment

Development

Project Management

Corporate Real Estate

David Gould and Associates

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Similar to the captain directing an America’s Cup boat, the Asset Program Manager, provides the “single point of contact” for the investment program combined with the necessary breadth of knowledge and management skills to organize the many skilled professionals required for a successful real estate investment.

These skills require coordination in an integrated manner; attorneys, brokerage, ar-chitecture, land planning, engineering, market analysis, construction, and others all working together.

A thorough understanding of markets, lending, pricing, timing, codes, land use, and agency ordinances, processes and entitlement programs are required for the com-plexity facing today’s real estate investment and development programs. In the world of commercial real estate, experience can discern opportunity and value from risk and overpriced. We have a saying….

Integrated Thinking + Skilled Management = Value Creation

Given the opportunity to frame the challenge and outline solution options with you, we consistently manage successful real estate programs that deliver high value re-turns for our clients. These efforts create tangible, flexible value for many years.

Land Use Investment Development Project Management Corporate Real Estate

www.davidgouldassociates.com [email protected] 415.990.0125 David Gould and Associates

Program Leadership is Putting Talent and Skills to Work for You

Brokerage Attorney

Soils & Geotech

Civil Engineer

Structural Engineer

Mech Engineer

Construction Manager

General Contractor

Asset Program Manager

Financial Analyst

Property Management

Architect

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Land Use and Asset Advisory Services – We provide the vision required to assess real es-

tate assets for their successes, faults and opportunities. This requires a multidisciplinary back-

ground. As advisor to the Owner we apply tactical financial analysis of the market, valua-

tions, demographic information, construction knowledge, operations and understanding of

agency approval processes to preserve and increase asset value. The Asset Program Man-

ager assimilates these elements, develops, communicates supports an Owner selected asset

plan. The Asset Program Manager provides the plan implementation for the Owner. Repeat-

edly, we have delivered increased asset value to our clients through planning and manage-

ment implementation to reduce risk, improve cash flow performance and often reposition

the real asset for improved market desirability.

Asset Program Management – The asset owner’s interests are best served by a Asset Pro-

gram Manager capable of integrating, managing and directing a broad base of skills. These

include asset visioning, land use, agency entitlements, attorneys, architecture, engineering,

due diligence, environmental issues, transactions, property managers, consultants, general

contractors, and development requirements. The focus is on creating or enhancing real es-

tate asset value. The Asset Program Manager will represent, coordinate and manage in the

Owner’s behalf to achieve optimal, cost effective results. The Asset Program Manager pro-

vides the experienced perspective to represent, manage, direct, evaluate, advise, schedule,

budget and implement complex multi-disciplinary tactics. In this manner the separate inter-

ests and viewpoints of “silo” disciplines become integrated and leveraged through the Asset

Program Manager for optimum Owner value.

Transaction Management – Some Owners of important assets are often unprepared to

fully utilize the skills of brokers for real estate transactions. Moreover, brokers can be inade-

quately prepared to truly understand the Owner’s asset and investment requirements. Ac-

cordingly, our asset management skills and brokerage knowledge base assist the Owner and

the broker team by “bridging” financial, operational and strategic investment objectives with

high-value market based solutions afforded by a talented brokerage service provider. Our

management skills provide focus and objective review to enable the Owner and the broker-

age teams achieve a higher level of success in shorter period of time.

Development Planning Consulting and Management - Some Owners possess real es-

tate with high asset potential that is not realized due to a number of investment, financial,

development, infrastructure, agency and market obstacles. The Owner may be under-

staffed, not convenient to the asset location, risk adverse or inexperienced with the required

steps and solutions. Past attempts by the Owner may have gotten off track. Our extensive

experience and skilled hands-on management overcome these challenges with the imple-

mentation of due diligence, feasibility review, financial analysis of options, acquisitions, dispo-

sitions, governmental agency “entitlement” approvals, site evaluations, large scale projects,

multi-site projects, re-image projects, interiors programs and ground-up projects. We have a

track record with many types of building and land use products. Our objective is to assist the

Owner to define an opportunity vision, cost management, timing, balancing risk-rewards and

provide the single point of contact to successfully deliver maximize asset value.

Creating Value with Management of Integrated Solutions for Complex Challenges



4 Current and Recent Client Solutions



South of Market (SOMA), San Francisco …we are currently working with

the building Ownership, the

master tenant and their archi-

tect-engineering teams to fully

renovate the MEP, roof, eleva-

tor and common areas to the

base building and assist the ten-

ant with a full interior workplace

re-image and restack for this

100 year old 128KSF Mission

Street property. Improvements

are slated for 2016 and 2017.

Danville Retail Center Connection to Iron Horse Regional Trail

…recently completed, this pe-

destrian and bicycle bridge im-

provement was the first ap-

proved, privately funded access

to the Iron Horse Trail public right

of way in Contra Costa County.

Access rights, entitlement nego-

tiations and approvals required

more than 10 years of efforts

and coordination with more

than 6 public agencies and right

of way lease tenants.

Off Market Investor Acquisition, Danville, CA …..Danville offers a sophisticated yet small town atmosphere, with his-

toric buildings, shops and restaurants. The Town’s small parcels are

highly sought after but rarely come to market. Through an off-market

transaction, we assisted this investor to secure ownership of these three

office buildings at 402 Hartz Avenue for their corporate HQ and invest-

ment. Adjacent to the recently renovated Veterans Hall, the property

is directly across the street from the new 38KSF Danville Hotel retail-

residential mixed-use redevelopment. This unique investment acquisi-

tion is in the “heart” of Danville’s historic town center zone.

Windsor Heavy Industrial Remediation and Drainage Improvements

….this recently completed

heavy industrial project required

remediation, drainage improve-

ments and installation of an

asphalt containment cap. After

years of legal challenges, these

improvements were part of a

settlement between multiple

public and private interests to

prevent storm water runoff into

adjacent riparian zones.

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Commercial Retail Development, Danville, California –

The private trust for Danville Square sought to expand, reposition and

reimage this 50 year old retail center in heart of downtown Danville.

For this challenge, we provided an asset advisory vision for the target ten-

ants and tenant mix matched to the local demographics. Secondly, we

provided management coordination and representation for additional land

acquired through the local Redevelopment Agency (RDA) and the devel-

opment agreements with the local agency for phased expansion and re-

image design. Thirdly, we provided program construction management for

a phased, multi-year $8MM expansion with full operations to accommodate

existing tenants and opening of new tenants during construction. The net

result was a doubling in size to 56,000 square feet, increased tenant mix and

more than 4x in asset value enhancement. Anchored by Starbuck’s, Trader

Joe’s, Chipotle, Rockcliff Realty, Jamba Juice and United States Postal Of-

fice; this very active retail asset is a significant component to the downtown Danville mix of local and regional

retail opportunities.

Medical Office Entitlement Program, San Ramon, California - Purchased in a 2013

bankruptcy transaction, this opportunity investment was 90% vacant. The new Ownership secured a high

quality, below market 50,000 SF office building. The brokerage team indicated a medical office leasing

theme as the best opportunity for high quality tenants in this market. However, the existing onsite parking was

not adequate for the medical office zoning requirements.

Our research of the parking code indicated a potential to resolve this dilem-

ma. The City zoning treated parking requirement for all medical and dental

facilities as similar. One of the largest proposed new tenants was an outpa-

tient surgical center. Working with the City Planning staff to secure an ad-

ministrative agreement with conditions, we were able to validate that surgi-

cal center tenant “actual” usage would be less than 50% of the parking ordi-

nance requirement. A Minor Exception Permit (MEP) was granted without

going to public hearing enabling the existing parking lot capacity to meet

the revised “blended” parking requirement for the full medical office com-

plex. With this solution in place, the asset leasing plan has progressed

smoothly towards full occupancy and 3x asset value enhancement.

Waterfront Mixed Use Asset Land Plan,

San Francisco, California – Coordinating with the industrial dem-

olition and remediation program for the 80 year old Hunter’s Point power

plant site, we assisted PG&E to “vision” and evaluate the reuse and com-

munity development opportunities for this "brown field" location. This wa-

terfront industrial site is located in the unique Indian Basin region of San

Francisco.

Using scenario based proforma modeling we determined the mix, size and

density of residential, retail and office uses. Directing the architect team

and representing the client with the City of San Francisco Planning Depart-

ment, the Redevelopment Agency and the Bay Area Conservation Com-

mission (BCDC), a viable plan for this 30 acre site is currently under re-

view. This land plan blends mixed-use development options for residential,

retail and office that promote local community desire for jobs, housing,

services and significant public access to recreation waterfront zones.

Asset Value Creation Through Vision, Experience and Implementation Skills



6 More Examples of Value Creation Through Vision, Experience and Management Skills

Industrial Land Conversion to Residential TOD , Livermore,

California – As advisor to this private trust, we evaluated the opportunities and con-

straints for this 30 acre “green field” industrial property. Based upon the market, finan-

cial and land use planning opportunities we validated a high-density transit oriented

development (TOD) residential community at this Ace Train station location.

This 4X value opportunity was achievable because of our understanding of regional

planning directives for residential transit hubs. We provided scenario based proforma

modeling, determined current and future residential market values, residual land val-

ues, profile of potential development buyers, deal structure and timing components.

Working directly with the City Planning, Transportation and utility agencies, we directed

the tentative map and land plan entitlement processing with the City. We provided

management direction for land plan architects, engineers and coordination with the

trust’s real estate legal counsel for these entitlement approvals.

Multiple Locations for Veritas Investments, San Francisco, CA - Working with this San

Francisco apartment REIT, we advised on four apartment (mid and high rise) assets with ground floor retail op-

portunities. Cost scenarios were developed for deferred maintenance, code

compliance, creation of ground floor retail spaces, and pedestrian experience

upgrades for sidewalk image enhancements to these buildings. The invest-

ment scenarios were ranked for risk and return.

Recommendations included creating newly demised ground floor retail space,

street front partklets, alley way upgrades for extended retail operations be-

yond the building and vertical multi-story advertising display on blank high rise

facades. City of San Francisco zoning and general plan data was referenced

for opportunities and constraints. GIS demographic data was evaluated for

trends and likely project scheduling. These “value add” enhancements are

currently in planning stages for 2015 implementation.



Hotel Renovation and Expansion, Burlingame, California – Adja-

cent to the San Francisco International Airport, working with the architect, engineers,

interior design team and the procurement consultant, we directed full renovation to this

30+ year old, 315 suite hotel for Winship Properties.

Saving nearly $2MM for the Owner through design-materials changes and entitlement

negotiations, the project involved a $15MM interior and exterior reimage program, ex-

panded facilities and re-flagged as a Crowne Plaza Hotel while maintaining full hotel

operations.

Asset Planning Program, Pleasant Hill, California - Working with the

advisors to a private trust for DVC Plaza, we provided market and financial analysis to

identify high value asset planning options to reposition this a 30 year old, 20 acre, 205K

SF East Bay shopping mall. Demographic and market trends were evaluated along

with development proformas for multiple scenarios for mixed-use retail, residential and

office scenario options.

It was determined that with land use changes, revised land planning, re-tenanting and

real estate product revisions, the asset value could be increased substantially in a short

period of time. We directed zoning and General Plan changes to reposition this prop-

erty from “neighborhood commercial” to “mixed-use” enabling residential and com-

mercial use redevelopment. Based upon these efforts, this asset was subsequently sold by the trust for 2.5X

“upside value” of the cash flow cap rate. The new owner is seeking to implement their development oppor-

tunity version of this same asset plan vision.

7 Creating Value and Success for Our Clients

CalState9, Concord, CA

32,000 SF corporate HQ, facilities

standardization, workplace

strategies, real estate acquisi-

tion, TI program management

furniture program, lease termi-

nation negotiations, consolida-

tion and relocation

Mirant Energy, Pittsburg, CA

Real estate advisory program to

evaluate opportunities and con-

straints for 800 acres of Bay Front

land holdings adjoining a 1,311

megawatt power plant. Sce-

nario review and land use plan-

ning for determining highest and

best use financial value, com-

patible land uses and market

timing

Levin Menzies & Associates,

Fremont, CA

Fast track Image upgrades, ten-

ant improvements and deferred

maintenance improvements to

this 90,000 SF multi-tenant indus-

trial/R&D property

Edward S. Ageno 1992 Trust,

Danville, CA

Asset advisory services, entitle-

ment services, fee based pro-

ject development management

and brokerage representation

for a multi-year, multi-phased

retail center reimage, re-tenant

and expansion to a 56,000 SF

retail center

Pacific Thomas Properties, Oak-

land, CA

Pre-development planning advi-

sor to this developer for conver-

sion of this industrial land use to

881 units of residential with

ground floor retail space. Our

role was to define a market

based limit to the retail compo-

nent of this mixed use project

adjacent to an Oakland BART

station.

Walker Family Trust, Pleasant

Hill, CA

Asset advisory services for eval-

uation of a 20 acre, 205,000 SF

commercial retail property for

assessment of alternative mixed

use redevelopment scenarios

including timing, proforma fi-

nancial analysis and entitle-

ment services for a general plan

amendments to assist with fu-

ture land development options.

Edward S. Ageno 1992 Trust,

Livermore, CA

Land use asset master plan and

tentative map entitlement pro-

gram to convert a 40 acre

‘green-field” industrial site to a

medium density, TOD residential

land use. Integrated master

plan for land use compatibility

with an adjacent regional rail

transit oriented and multi-modal

land use

PG&E, San Francisco, CA

Real estate advisory services,

master plan and agency entitle-

ment program to convert a 30

acre “brown-field” site that was

formerly a 80 year old power

plant into a new mixed-use wa-

terfront land use development

with 200,000 SF of retail, office

improvements, more than 1,000

residential units and significant

waterfront access opportunities

Winship Properties, Burlingame,

CA

Master plan and asset reposi-

tion for this 30+ year old, 315

suite hotel. We provided a

phased interior renovation of all

suites, expanded conference

and dining amenities, exterior

reimage program and re-flag as

a Crowne Plaza Hotel while

maintaining full hotel operations

during the project

JFK University, Pleasant Hill, CA

110,000 SF HQ real estate broker-

age acquisition, strategic and

tactical facility plan, advisory

services on structured financing

options

PG&E, Sacramento, CA

5.5 acre land acquisition, pro-

gram management, entitle-

ments, site improvements and

70,000 SF ground-up develop-

ment with specialty interiors pro-

gram management for this in-

dustrial use

Turner Broadcasting, Atlanta,

GA

Ten year strategic real estate

plan for 1.5 MM SF multi-campus

facility, EBITDA financial evalua-

tion of scenario options, real es-

tate advisory services for capital

planning response to growth

and location needs



8 Vision and Management Skills for Value Creation

Specialization in Complex Projects - David Gould works to conceive, communicate and imple-

ment straightforward real estate solutions to complex challenges for developers, private trusts, investors, cor-

porations and public agencies.

David is an accomplished senior real estate manager, senior CRE manager, CRE

consultant to Fortune 250 and early phase growth companies, commercial real

estate broker, real estate investment advisor and fee-based development con-

sultant. He has managed more than $1.4B in project construction, greater than

2.1M SF lease transactions, nearly 1.0M SF commercial space purchases and

more than 1.2M SF commercial space disposed.

David is the managing partner for David Gould and Associates. Previously he

was Senior Vice President with Colliers International. Prior to this, David was Vice

President assisting in managing the Sun Microsystems account for Jones Lange

LaSalle (JLL). JLL purchased Satulah Group where David was Satulah Group’s

Senior Vice President and region manager in San Francisco for real estate devel-

opment and corporate real estate services. As Vice President for Wells Fargo

Bank, David managed the Northern California retail properties group with respon-

sibilities for more than 330 locations, a distributed portfolio of 2.9MM SF, develop-

ing 28 new properties and managed numerous statewide Wells Fargo corporate

merger and acquisition programs involving more than 250 properties.

Drawing upon commercial development, urban planning and commercial brokerage skills, David’s key ad-

vantage is “hands-on” management of all project aspects for consistent timely delivery of on-budget ground-

up and reimage programs. David has directed significant investment and development programs involving

land use entitlements, “highest use” asset repositioning, land use planning, financial scenario analysis, devel-

opment planning, real estate transactions, workout management and fee based program management for

major real estate office, retail, industrial and mixed-use projects.

Background - With more than thirty years experience, David creates significant value for clients. He pro-

vides a hands-on style, breadth of knowledge and valuable experience for an “integrated solutions” ap-

proach to management and consulting services. A partial client list includes:

Education - Master of Business Administration, St. Mary's College; Graduate Studies in Urban & Regional

Planning, at the University of Southern California; Bachelor of Science, Environmental Planning & Management

from the University of California at Davis.



david gould - investment, asset and development real estate services

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