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<br />BLAKE HUNT <br />'¡r-' "T'"UR'-- <br />\¡-'\1 !,>-- <br />. -. . ....-- <br /> <br />It-9 <br /> <br />Webber. The principals of Blake Hunt Ventures are Brad Blake/CEO, Jerry <br />Hunt/President and Jim Wright/V.P.-Development. In the public documents, Blake Hunt <br />Ventures is referred to as "Developco." <br />~ Pan Pacific did not acquire Innisfree as the newspaper reported. Innisfree had no part in <br />the Pan Pacific and Western merger. <br />~ For On Broadway, Blake Hunt Ventures should be considered part of Pan Pacific and its <br />representative, Blake Hunt Ventures will be responsible for leasing, construction <br />management. development services, property management and working with Innisfree on <br />design, planning and entitlements. Blake Hunt Venrures will also be the liaison with Pan <br />Pacific and will make capital allocation and investment recommendations to them. <br />Innisfree's primary role is to obtain entitlements and to spearhead the design and <br />planning. ' <br />~ Pan Pacific. Innisfree and Blake Hunt Ventures have agreements in place as to how the <br />income and ownership are shared between the block one and block two projects. All <br />three parties will continue to be involved in both the retail and office components of the <br />projects. <br /> <br />From the City's perspective, it should be a seamless transition from Western to Pan Pacific and' <br />Blake Hunt Ventures. The people involved from the developer's side will still be David Inner, <br />Brad Blake (more than before) and Jim Wright (less than before). Pan Pacific, as capital partner. <br />will be in the background and available as needed. The primary contact for Pan Pacific will be <br />Joe Tyson, Chief Financial Officer. Pan Pacific looks to Blake Hunt Ventures to represent its <br />interests. <br /> <br />Pan Pacific has a total market capitalization of $1.3 billion and a line of credit of $400 million, <br />As presently conceived. the project meets their product type. geographic and return criteria. <br />Blake Hunt Ventures has over $135 million in retail and office projects under development in the <br />Bay Area and is well-capitalized and well-staffed. <br /> <br />I will be taking a more active role in this project now that my public company duties have ended <br />at Western, I look foJ"\vard to working with you, the City staff. the planning commission. the city <br />council and the citizens of Redwood City to make this exciting project a reality. <br /> <br />Please feel free to distribute this letter to others in the City as appropriate. If you have any <br />questions or need any additional infonnation, please call me at (925)944-0800. <br /> <br />j;JIb'~ <br /> <br /> <br />Bradley N. Blake <br />Chief Executive Officer <br /> <br />Cc: <br /> <br />David Inner <br />Bill Falick <br />Joe Tyson <br /> <br />~ - .~~ <br />---' ,..L':;.'.,:.._.;:fi::,::'";',j,....,,, <br /> <br />;.l~: .: <br /> <br />-- <br /> <br />-,.. , ,-." <br /> <br />ê¡ ~2.:.::":":',':Z'::' <br /> <br />~,X :'-,;,,; _:,- <br /> <br />'.',\','...~,:;¡<çi~:::',:--. <br /> <br />'r" <br /> <br />~'T <br />