EFTA01368643.pdf

Lift One: Aspen resort property Area of expertise: Private markets Theme: Hard assets — KCP is partnering with an established Sponsor to find co-investors for the acquisition, development and sellout of a world-class luxury residence and private ski club in Aspen, Colorado; it is the last remaining ski-in/ski-out development parcel directly on Aspen Mountain known as "Lift One" — The Sponsor is an independent investment group engaged in acquisitions and repositioning of prime properties, with a proven track record in the development of ultra-luxury real estate assets — The opportunity allows equity investors to generate returns resulting from the sale proceeds of luxury residences and memberships in an exclusive private ski dub; revenues constitute sale proceeds from condo-hotel fractional units, whole ownership luxury units, exclusive club memberships and commercial retail space on the mountain — Risks: challenges in the development and sale of the property, potential full loss of investment Investment highlights — Strong sponsorship: the Sponsor has significant experience within luxury development and real estate — Rare generational opportunity: the remaining supply of Aspen's mountain-side development parcels is essentially non-existent, and this real estate rests within a long-favored destination that is a pinnacle of luxury mountain resorts — Alignment of interest: Sponsor agrees to commit 5% of capital and equity investors are given priority to net profit via a high hurdle rate — Branding: expected affiliation with world class brands including Bulgari, Cheval Blanc and Baccarat — Already entitled: current ownership spent over 8 years entitling the site and the Sponsor believes amendments will be swift — Pro-development political climate: the current City Commission is expected to be very receptive to the development, especially in light of the 2017 FIS World Cup Ski Competition coming to Aspen, finishing at Lift One — Compelling fundamentals: rapidly escalating pricing, strong sales velocity and pent up demand for luxury product all coexist in the Aspen market Deal terms Offer size Up to 530mm Minimum 53mm Term 3-5 years, expected Leverage Transaction financed with 75% debt, procured at a later date Deutsche Asset Wer3ith For U.S. Key Client Partners (KCP) Clients Only 15 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0060506 CONFIDENTIAL SDNY_GM_00206690 EFTA01368643