Ferrini Ranch - Offering Memorandum by Tim Allen Properties

FERRINI RANCH OFFERING MEMORANDUM 870-acre property with 185 approved estate lots SALINAS, CALIFORNIA

FERRINI-RANCH.COM

CONFIDENTIALITY, TERMS & CONDITIONS The information contained herein is strictly confidential, furnished solely for the purpose of considering the purchase described herein and is not to be used for any other purpose or made available to any other person without the expressed written consent of Tim Allen Properties and Bella Vista Land Advisors (hereinafter “Brokers”). It has been obtained from sources believed to be reliable, but no representation is being made with regard to its accuracy or completeness. Prospective buyers should undertake their own investigations and reach their own conclusions without reliance upon the material contained herein. Neither the Seller nor Brokers, nor any of their officers, agents or principals makes any representations or warranties, expressed or implied, as to the accuracy or completeness of the Offering Memorandum or any of its contents, and no legal commitment or obligation shall arise by reason of the Offering Memorandum or its contents. Verification of the information contained in the Offering Memorandum is solely the responsibility of the prospective purchaser. Seller and Brokers expressly reserve the right, at their sole discretion, to reject any or all expressions of interest and/or terminate discussions with any entity at any time with or without notice. The Seller shall have no legal commitment or obligations to any entity reviewing the Offering Memorandum or making an offer to purchase unless and until such offer is approved by the Seller, and any conditions to the Buyer’s obligations there under have been satisfied or waived.

CONTENTS Executive Summary The Property

Property Map

Property Details

Site Plans

Cost & Fee Estimate

Monterey County Overview

Employment

Nearby Cities

City of Salinas

Nearby Attractions

Monterey County Real Estate Market Overview Resale Market and New Home Sales

Comparable Properties

Offering Terms

About Tim Allen Properties

About Bella Vista Land Advisors

THE PROPERTY

FERRINI-RANCH.COM

Tim Allen Properties and Bella Vista Land Advisors (as co-listing agents) are pleased to present this unique estate home development opportunity located on scenic Highway 68, between the cities of Monterey and Salinas in Monterey County, CA. Ferrini Ranch is an 870-acre ranch with an approved vesting tentative map for 185 lots, of which 168 are marketrate and 17 reserved for moderate-income buyers. The lots range in size from 1/3 acre to over 1 acre, and most offer panoramic views of the valley below. Over 700 acres of permanent open space surround the 185 building lots. Ferrini Ranch includes an 11.8-acre parcel programmed for an “Ag Visitors Center” which could include a tasting room featuring wines from the Santa Lucia Highlands AVA, as well as local micro-brews, snacks and games. The Ranch also includes a 2-acre parcel with cottage and historically significant barn that could be converted into a small community center. The Toro Park Shopping Center is located just across Highway 68 from the Ranch, and southeast Salinas offers a Lucky Market, Star Market and Nob Hill Market just 2.5 miles to the north. The Ranch has a Salinas mailing address and is in the Washington Union School District, so students will be able to walk or bike to Washington Elementary & San Benancio Middle School from K-8. High School students attend Salinas High School or one of the nearby private schools.

PROPERTY MAP

West Parcel

East Parcel

Wine Center

DETAILS Ferrini Ranch is comprised of 870 acres in Monterey County immediately south of Highway 68 and 2.5 miles west of Salinas. Highway 68 stretches 20 miles between Salinas and Monterey.

OPEN SPACE The proposed Ferrini Ranch plan sets aside nearly 70% of the property as permanent open space. The plan works to expand open space and recreation in the Toro area by preserving in perpetuity 700 acres of the ranch as open space, protecting scenic corridor views and creating a new bike and pedestrian pathway connecting Toro Regional park, River Road and San Benancio Canyon. 8

HOUSING The Ferrini Ranch plan proposes a total of 185 residences. 168 will be market rate residences and 17 are proposed as below market rate/ workforce housing units. The market rate residences consist of single family detached homes located on lots averaging a little over half an acre.

WATER The Ferrini Ranch lies within water zones 2A and 2C so water comes entirely from the Salinas Valley aquifer, not the Toro Aquifer. CalWater serves the area. A well is also located on the property.

PLANS: EAST PARCEL The East Parcel includes the 17 Moderate-Income lots; the proposed 12-acre Ag Wine Center; a .76-acre lot on 117 Drive; and over 250 acres of permanent open space.

Serra Village

Toro Park Estates

Portola

.76-acre Market-Rate Homesite

Drive

Portola

Drive

ive Dr

7 11

rto

ive

117 Drive

PARCEL E 17 Below Market Rate Lots 5.20 AC (GROSS)

Toro Park

17 ModerateIncome Lots

Parcel B Open Space / Gra

azing

Parcel B Open Space / Grazing

AG Wine Center Parcel D

AG/Industrial, 11.7 AC

16 Market-Rate Lots

PLANS: WEST PARCEL The West Parcel contains 168 market-rate lots and almost 500 acres of open space

Parcel C

Ben

anci

o Ro

BLM Parcel A2 Open Space

San

Potential Community Center

Parcel A1 Open Space / Grazing

San Benancio School

Parcel A Open Space

Toro Park Estates

Parcel A Open Space

Toro Park

PLANS: WINE CENTER Ferrini Ranch includes an 11.8-acre parcel programmed for an “Ag Visitors Center” which could include a tasting room featuring wines from the Santa Lucia Highlands AVA, as well as local microbrews, snacks and games. In addition, 16 market-rate lots will overlook the Ag Wine Center.

COST ESTIMATES Seller estimates site development costs at $30,661,693 ($182,510/market-rate lot). Fees at final map recordation and building permit are estimated at $100,068/lot.

SITEWORK ESTIMATE ITE M

DESCRIPTION

Q UAN T IT Y

U N IT

COST

TOTAL

Clearing and Grubbing

141

$800.00

$112,800

Earthwork

198,000

$3.25

$643,500

Fine Grade New Drainage Basins

176,000

$2.25

$396,000

Rough Grade Pads

151

$1,750.00

$264,250

Tree Removal and Protection

$235,000.00

$235,000

Erosion Control

141

$250.00

$35,250

GRADING

STREET WORK

Roads - Fine Grading, Paving, Base

478,800

$5.85

$2,800,980

6” AC Dike (Includes 6” AB cushion)

26,600

$12.00

$319,200

Bike/Pedestrian PathFine Grading, Paving, Base

158,400

$3.45

$546,480

Traffic / Street Name Signs

$125.00

$3,125

ITE M

DESCRIPTION

Q UAN T IT Y

U N IT

COST

TOTAL

S TO R M D R A I N

Catch Basin

$900.00

$36,000

Storm Drain Manhole

$3,600.00

$36,000

Storm Drain Pipe (Minimum 18")

2,500

$48.00

$120,000

Storm Drain Crossing (Includes Inlet and Outlet Structures)

$9,800.00

$833,000

Storm Drain Outfall and Rip Rap Protection

$3,650.00

$116,800

Detention Basin Riser Structure

$6,500.00

$45,500

$3,600.00

$291,600

S A N I TA R Y S E W E R

Manholes

8" PVC Sanitary Sewer Pipe

29,800

$41.50

$1,236,700

8" PVC Sanitary Sewer Pipe (in Existing Pavement)

1,100

$82.00

$90,200

Sewer Lift Station

$128,000.00

$128,000

Sewer Force Main

1,600

$30.50

$48,800

4" Lateral

151

$870.00

$131,370

FEE ESTIMATE (COTINUED) ITE M

DESCRIPTION

Q UAN T IT Y

U N IT

COST

TOTAL

P O TA B L E WAT E R S U P P L Y

4" PVC Water Line (Including all appurtenances)

1,400

$26.20

$36,680

8" PVC Water Line (Including all appurtenances)

27,700

$37.30

$1,033,210

12" PVC Water Line (Including all appurtenances)

900

$48.10

$43,290

Water Services (1" for typical lot)

151

$735.00

$110,985

Fire Hydrant and Connection

$4,350.00

$108,750

Water Tank

$450,000.00

$900,000

Pressure Reducing System

$24,080.00

$48,160

Booster Pump

$34,500.00

$69,000

Cross-Connect to Water Main

$4,250.00

$4,250

7,800

$5.50

$42,900

LANDSCAPE

Entry Landscape

Entry Signage

$20,000

ITE M

DESCRIPTION

Q UAN T IT Y

U N IT

COST

TOTAL

26,600

$22.80

$606,480

DRY UTILITIES

Joint Utility Trench

Gas Contract Cost Per Lot

151

$420.00

$63,420

Underground Electric Conduit and Structures

151

$1,456.00

$219,856

Telephone

151

$548.00

$82,748

Cable TV

151

$528.00

$79,728

PG&E Contract Cost Per Lot

151

$4,250.00

$641,750

Highway 68 (includes an extra $500k for indirects)

$7,500,000.00

$7,500,000

Sub Total

MISCELLANEOUS

$20,081,962

Contingency

15%

$3,012,264

Engineering, consulting and indirects

20%

$4,016,352

TOTAL

$27,110,379

Parcel E Total

$881,936

Parcel D Total

$2,669,378

PROJECT TOTAL

$30,661,693 ($182,510/ market-rate lot)***

*** This total does not include in-lot grading or retaining walls, which owner views as home building costs.

MONTEREY COUNTY

OVERVIEW Monterey County, created in 1850 at the time of statehood, encompasses 3,322 square miles and a population of over 415,000. Salinas, the largest city, is the County seat. The coastline, including Big Sur, State Route 1, and the 17 Mile Drive on the Monterey Peninsula, has made the County world-famous. The Monterey Peninsula comprises the cities of Monterey, Carmel, Carmel Valley, Pacific Grove, Seaside, Sand City, Del Rey Oaks, Marina and unincorporated areas of Monterey County, including Big Sur and the community of Pebble Beach, home of Pebble Beach Golf Links, arguably the most iconic golf course in the United States. On a short drive in any direction on the Monterey Peninsula, there are superb destinations to be found.

EMPLOYMENT Monterey County’s economy is primarily based on agriculture in the Salinas Valley and tourism in the coastal regions. It is home to an extensive array of education and research institutions, and ten military missions. The health care, non-profit, and government sectors are also among the County’s largest business sectors. The California EDD lists the County labor force at 229,300. AGRICULTURE: Monterey County is one of the nation’s top agricultural producers.

Agriculture is the County’s largest economic and employment sector generating $8.1 billion annually and providing 76,054 jobs.

HOSPITALITY: Tourism is the County’s second largest economic sector attracting

8.4 million visitors and generating $2.7 billion, which supports 24,390 full-time jobs. Attractions include Big Sur, Pebble Beach, Carmel-by-the-Sea, and the Monterey Wine Country and include nearly 300 special events annually.

EDUCATION, RESEARCH AND MILITARY: The Monterey Bay Area has a strong

concentration of higher education and research institutions, particularly related to foreign language study, marine research, and international policy, with combined annual operating budgets of $1.7 billion, directly employing over 14,000 faculty, staff and researchers with some 79,000 students enrolled annually. The County is home to ten military missions, providing significant local economic benefits. HEALTH CARE: Monterey County has four hospitals (Natividad Medical Center,

Salinas Valley Memorial Hospital, Community Hospital of the Monterey Peninsula, and Mee Memorial) which generate significant economic benefits to the region. A recent report noted that the region’s hospitals generate an annual economic impact of $2.7 billion, and directly and indirectly support 13,670 jobs.

NON-PROFITS: The non-profit industry in Monterey County plays a vital role in the

community. A recent study reported that the County has over 1,200 registered nonprofits with an economic impact of $1.5 billion, providing over 12,000 jobs.

COUNTY EMPLOYMENT: The County of Monterey is the largest single employer with

5,000 employees and a $1.4 billion budget.

NEARBY CITIES

Pacific Grove Monterey

Pebble Beach Carmel

Big Sur

Salinas

Ferrini Ranch

Carmel Valley

MONTEREY OVERVIEW The city of Monterey, founded in 1770, was the capital of Alta California under both Spain (1804 to 1821) and Mexico (1822 to 1836). Monterey County was one of the original counties of California. Until the 1950s, Monterey was an abundant fishery. Monterey’s present-day attractions include the Monterey Bay Aquarium, Cannery Row, Fisherman’s Wharf, California Roots Music and Arts Festival, and the annual Monterey Jazz Festival. PA R K S & N AT U R E

SCHOOLS

Jacks Peak County Park Monterey Veterans Memorial Park San Carlos Beach Park El Estero Park Del Monte Beach

Monte Vista Elementary School (public) La Mesa Elementary School (public) Walter Colton Middle School (public) Monterey High School (public) San Carlos Elementary (private)

EVENTS

L O C A L AT T R A C T I O N S

Monterey Jazz Festival Monterey Car Week Red Bull U.S. Grand Prix and Moto GP World Championship California Roots Music and Arts Festival

Monterey Bay Aquarium Cannery Row Fisherman’s Wharf Monterey Museum of Art Whale Watching

R E S TAU R A N T S Chart House Schooners Coastal Kitchen and Bar

Monterey Fish House Montrio Bistro Rosine’s

CARMEL OVERVIEW Carmel-by-the-Sea (often simply called Carmel), was founded in 1902 and incorporated in 1916. Carmel is known for its natural scenery, dog-friendly businesses and rich artistic history. Early on, the City was dominated by artists, and several of the city’s mayors have been poets or actors, including actor-director Clint Eastwood. It’s long been cherished for its scenic coastline, small-town charm and quaint downtown, home to renowned shops, galleries, tasting rooms and cafes.

PA R K S & N AT U R E

SCHOOLS

Carmel River State Beach Devendork Park Picadilly Park Forest Hills Park Palo Corona Regional Park

Carmel River Elementary (public K-5) Carmel Middle School (public 6-8) Carmel High School (public 9-12) Stevenson School (private PK-8) All Saints Day School (private PK-8)

EVENTS

L O C A L AT T R A C T I O N S

Carmel Art Festival Carmel Bach Festival Annual Taste of Carmel Carmel Culinary Week Carmel House & Garden Tour

Carmel Mission Basilica Carmel Beach Point Lobos Downtown Carmel – Ocean Avenue Robinson Jeffers Tor House

R E S TAU R A N T S

ACCOLADES

Aubergine *Awarded a Michelin star Grasings

Forge in the Forest Seventh & Dolores Dametra

Named #2 of The 10 Best Small Cities in America by HuffPost 27

BIG SUR OVERVIEW Big Sur lies just south of the Monterey Peninsula. A land of majestic peaks and serene canyons, magnificent coastline and natural beauty, where rustic inns and world-renowned cuisine meet luxurious, eclectic living and a lifestyle both refined and artistic. This 90-mile stretch of wonder along Highway One, between Carmel and San Simeon, has a cultural imprint that spans generations of influential figures. PA R K S & N AT U R E

SCHOOLS

McWay Falls Julia Pfeiffer Burns State Park Pfeiffer Beach Garrapata State Park Limekiln State Park Andrew Molera State Park

Captain Cooper Elementary (public K-5) Carmel Middle School (public 6-8) Carmel High School (public 9-12)

EVENTS

L O C A L AT T R A C T I O N S

Big Sur International Marathon Big Sur River Run Big Sur Food & Wine Festival Big Sur Jade Festival

Bixby Creek Bridge Point Sur Lighthouse Henry Miller Memorial Library Esalen Institute

R E S TAU R A N T S Nepenthe Sierra Mar Big Sur Roadhouse

The Sur House Deetjen’s Big Sur Inn Restaurant

PEBBLE BEACH OVERVIEW Pebble Beach’s six thousand plus acres have inspired generations of Monterey Peninsula visitors. Today’s Pebble Beach was the vision of the ‘’Big Four’’ railroad barons, Huntington, Stanford, Hopkins and Crocker, and implemented by Samuel FB Morse, who developed it in to the world-class destination, golf mecca and internationally renowned real estate development we know today. It is indeed a world-class treasure. PA R K S & N AT U R E

SCHOOLS

Lone Cypress Stillwater Cove Cypress Point Lookout Seal Rock

Carmel River Elementary (public K-5) Carmel Middle School (public 6-8) Carmel High School (public 9-12) Stevenson School (private PK-12)

EVENTS

L O C A L AT T R A C T I O N S

AT&T Pebble Beach National Pro-Am Pebble Beach Concours d’Elegance Pebble Beach Food & Wine Festival Concorso Italiano US Open Golf Championship

17 Mile Drive Lone Cypress Pebble Beach Golf Links Spyglass Hill Golf Course Poppy Hills Golf Course

R E S TAU R A N T S

ACCOLADES

The Bench Roy’s at Pebble Beach Stillwater Bar & Grille

Porter’s in the Forest Peppoli at Pebble Beach

Named America’s Top Golf Resort by Forbes 29

PACIFIC GROVE OVERVIEW From smallish bayside lots with quaint summer cottages surrounding a thriving traditional downtown shopping district to substantial sized oceanfront estates, Pacific Grove is rightfully proud to boast it is “America’s Last Hometown”. Pacific Grove citizens and visitors enjoy many nearby amenities including a world-class bayside trail, a top rated municipal ocean-side golf course, great local schools, and a town where most every attraction and need is a stroll away. PA R K S & N AT U R E

SCHOOLS

Asilomar State Beach Lover’s Point Park Monarch Butterfly Sanctuary Caledonia Park

Monte Vista Elementary School (public) Forest Grove Elementary School (public) Robert Dawn Elementary School (public) Pacific Grove Middle School (public) Pacific Grove High School (public)

George Washington Park Coastal Recreation Trail

EVENTS

L O C A L AT T R A C T I O N S

Feast of Lanterns Good Old Days Celebration Concours Auto Rally Butterfly Days

Point Pinos Lighthouse Monarch Grove Sanctuary Butterfly House Pacific Grove Museum of Natural History

R E S TAU R A N T S

ACCOLADES

Passionfish Il Vecchio Fandango

Red House Café La Mia Cucina First Awakenings

Nicknamed “America’s Last Hometown” and referred to as “Butterfly Town USA”

CARMEL VALLEY OVERVIEW Historically the local “bread basket” of the Monterey Peninsula it was also the playground for early California’s version of the “Rich and Famous”. The valley has perhaps the finest soil, climate and livability in the world. Many feel its proximity to the Carmel coast, blessed climate and spacious lots make it the ideal place to reside. Carmel Valley village offers world class dining, wine tasting, antique shops and art galleries. PA R K S & N AT U R E

SCHOOLS

Garland Ranch Regional Park Carmel Valley Community Park Palo Corona Regional Park Arroyo Seco / Los Padres National Forest

Tularcitos Elementary School (public, K-5) Carmel Middle School (public, 6-8) Harmony Home School (preschool) All Saints’ Day School (private, PK– 8)

EVENTS

L O C A L AT T R A C T I O N S

Carmel Valley Fiesta Annual Chili Cook-Off Kiwanis Hoopla Ranch Roundup Party in the Village

Bernardus Winery Folktale Winery Talbott Vineyards Joullian Vineyards Holman Ranch Vineyards

R E S TAU R A N T S Lucia Restaurant and Bar Cafe Rustica

Jeffrey’s Grill The Corkscrew Café ROUX 31

SALINAS OVERVIEW Salinas is the county seat of Monterey County. With a population of 163,542, Salinas is the most populous city in Monterey County. The city is located at the mouth of the Salinas Valley, roughly eight miles from the Pacific Ocean, and the marine climate is ideal for the floral industry, grape vineyards, and vegetable growers. Salinas is known as the “Salad Bowl of the World” for its large, vibrant agriculture industry, and some of the world’s best Pinot Noir is made at the wineries along River Road in the Santa Lucia Highlands AVA. Salinas was the hometown of writer and Nobel laureate John Steinbeck, who set many of his stories in the Salinas Valley and Monterey. Salinas has an emerging arts scene led by the First Fridays Art Walk, which features over 50 venues. The oldest gallery in Salinas, the Valley Art Gallery, has been active for over 30 years. The Hartnell College Gallery hosts world-class exhibitions of art during the school year. The National Steinbeck Center has two galleries with changing exhibits. Live theater companies in Salinas include Ariel Theatrical and the Western Stage. Live local music is available at many restaurants in the downtown area, and during the First Fridays Art Walk. Concerts are held at the historic Fox California Theater, Steinbeck Institute for Arts & Culture and the Salinas Sports Complex. Salinas is also home to many public murals, including work by John Cerney, which can be viewed in the agricultural fields surrounding the city. The city contains several art deco buildings, including the Monterey County Courthouse and the Salinas Californian Building.

SCHOOLS Students residing at Ferrini Ranch will attend Washington Union Elementary, San Benancio Middle School and Salinas High School. School-ratings.com ranked Washington Union in the 89.7percentile; San Benancio Middle in the 91.2 percentile; and Salinas High in the 66 percentile. For students who chose not to attend Salinas High, there are a number of collegeprep high schools in the area, including The York School in Monterey (8-12); Robert Louis Stevenson School in Pebble Beach (9-12); Santa Catalina School in Monterey (girls 9-12); Trinity Christian High in Monterey (6-12); Notre Dame High in Salinas (9-12); and Palma School in Salinas (6-12). PA R K S & N AT U R E

EVENTS

Fort Ord National Monument Toro Park Sherwood Park Pinnacles National Park

California International Airshow California Rodeo Salinas Monterey Sports Car Championships Steinbeck Festival

R E S TAU R A N T S

L O C A L AT T R A C T I O N S

Patria The Growers Pub 201 Main Little Sicily

Tarpy’s Roadhouse Toro Place Cafe Gino’s Fine Italian Foods

National Steinbeck Center Steinbeck House Monterey Zoo WeatherTech Raceway Laguna Seca 33

NEARBY ATTRACTIONS Nob Hill, Lucky’s and Star Market

Toro Park Shopping Center

Ferrini Ranc Toro Park Fort Ord National Monument

Toro Place Cafe

San Benancio Middle School

Corral de Tierra Country Club Chamisal Tennis and Fitness Club

Washington Union Elementary

PARKS

Fort Ord National Monument Toro Park

SCHOOLS

Washington Union Elementary San Benancio Middle School River Road Wine Trail

FITNESS & COUNTRY CLUBS Corral de Tierra Country Club Chamisal Tennis and Fitness Club

ch Buena Vista Market Monterey Zoo

ACTIVITIES

Monterey Zoo River Road Wine Trail

SHOPPING & RESTAURANTS Toro Park Shopping Center Toro Place Cafe Buena Vista Market Nob Hill Foods Lucky’s Supermarket Star Market

REAL ESTATE MARKET OVERVIEW RESALE MARKET The resale market in Salinas and North Monterey County has strengthened over the past year at all price points. Area sales have benefited from an influx of buyers coming in from outside of the county and perceiving relative value here. The median sales price in the 93908 Zip Code has increased 7.6% in the past year and the months of inventory has decreased 40%, from 3.04 months of inventory down to 1.87 months of inventory. Both of these statistics speak to the strength of the market, record low inventory levels, and active buyers. The sales volume in Monterey County for homes in the $2MM to $3MM range has increased by over 31% in the past year and resales in planned communities local to the Monterey Peninsula, including Monterra, The Preserve, and Pasadera have strengthened considerably and buyers place a premium on new construction. The local real estate markets experienced very strong growth from Q3 2020 through Q2 2021 and that growth has continued during Q3 2021 through Q1 2022.

NEW HOMES SALES New Home Sales: (provides info on currently-selling new home projects in Salinas and the rest of Monterey Peninsula). There are a limited number of high-end SFR communities actively selling in North Monterey County at this time: SEA HAVEN, MARINA -

Wathen Castanos Homes (Builder/Developer) • 248-acre community in a more densely populated area, approved for 965 homes, less of half of which have been built; 112 sales over the past 12 months (3/21-3/22) with sales ranging from $821,000 (~1,500 SF) to $2,624,000 (3,945 SF) and a very high market absorption rate; Lot sizes range from 2,633 SF to 16,985 SF; In comparison to Sea Haven, Ferrini Ranch home sites are larger and are located in an area with more sun, perceived as a better climate by many potential buyers. Ferrini Ranch is also located in a better school district.

THE ENCLAVE, SEASIDE

- Shea Homes (Builder/Developer) • Single-family homes in a gated community ranging in size from ~2,941 SF to ~3,724 SF bordering two championship golf courses, Black Horse and Bayonet; A total of 26 homes with 6 different floor plans offer 3-4 bedrooms and 3.54.5 baths; There are 13 sold already with prices starting around or just under $2MM; In comparison to The Enclave, Ferrini Ranch shares a similar competitive advantage as it does with Sea Haven, namely, better weather and schools.

HOME PRICE PROJECTIONS New developments in and around the Monterey Peninsula are not great in numbers, but given the sales activity of the aforementioned new homes, paired with the healthy resale market and general desirability of the area, we believe there to be a market for these homes in the Low-Mid to Mid $2MM range provided a size of approximately 3,500 SF, which would allow for a 4-bedroom house plus a bonus room, large enough for a family but easily manageable for a lock and leave second home. The estates at Ferrini Ranch would have several advantages to the competition; the property abuts a 4,700+ acre park with riding and hiking trails, playgrounds, and game courts, and is also just across from Fort Ord National Monument, a protected space rich in history and open to the public, spanning 14,000+ acres. Furthermore, Ferrini Ranch is located within relatively close proximity to attractions on the Monterey Peninsula as well as an easy commute into the neighboring Salinas Valley and the tech hub further north of Silicon Valley, offering a desirable climate with warm weather and sunshine most of the year, and contains 700 acres of open space inside the community with impressive vistas, beautiful trees, and a natural environment. 36

COMPARABLE PROPERTIES PA S A D E R A

MONTERRA

1 home available for sale priced at $4,200,000

2 homes available for sale: one at $4,750,000 and the other at $5,500,000

14 home sales in the past 12 months ranging from $1,808,000 - $3,650,000

• Gated community with ~250 homeowners and the 'Club at Pasadera' • 565 acres within 15 minutes of Monterey Bay

7 home sales in the past 12 months ranging from $3,400,000 - $4,350,000

• Exclusive private, gated community • 168 homesites set on 1700 acres

L A S PA L M A S

S A N TA L U C I A P R E S E R V E

4 homes available for sale priced from $835,000 to $2,200,000

2 homes available for sale: one at $6,295,000 and the other at $6,950,000

25 home sales in the past 12 months ranging from $850,000 - $1,700,000

8 home sales in the past 12 months ranging from $4,000,000 - $9,000,000

• 1000+ single family homes • Borders Toro Regional Park

• Premier private community, focus on conservation • 297 homes and homesites

TEHAMA No homes currently available for sale 2 home sales in the past 12 months ranging from $5,193,500 - $6,200,000

• Prestigious gated community with golf course • Ninety custom homesites ranging from 3.5–20 acres

OFFERING TERMS PRICE $28,500,000 ($169,643/market-rate lot)

DEPOSIT:

NDA:

$1,000,000 released to Seller upon approval of Buyer’s due diligence review.

Prospective Buyers must sign Seller’s NDA to gain access to the Ferrini Ranch DropBox.

Prospective Buyers Must Not Contact the County Until a Purchase Agreement has been signed.

ABOUT TIM ALLEN PROPERTIES

TIM ALLEN 831.214.1990 tim@timallenproperties.com Tim Allen was born and raised on the Monterey Peninsula and has an extensive knowledge of the region. Tim attended local schools such as Stevenson High School, raised his three children in the area and owns homes throughout the Peninsula. Beyond his love for family and real estate, Tim’s other passion is the game of lacrosse. A successful collegiate player himself, Tim has become an avid supporter of the game. The teamwork, skills and overall discipline required to play at a high level have translated to his professional career. For the past two decades, Tim has been arguably the most predominant and successful real estate agent in the region. For 2020, Tim was ranked as the #1 Coldwell Banker agent for the Monterey Peninsula, #1 agent for Silicon Valley/Santa Cruz, #1 Coldwell Banker individual agent in Northern California, #3 Coldwell Banker agent in the U.S., and he is consistently ranked in the top .01% of agents worldwide. There is no other agent in the area who will provide you with the local knowledge and global connections that Tim can offer. „Tim is without a doubt one of the most talented and respected luxury real estate professionals in the industry,” said Mike James, president of Coldwell Banker Residential Brokerage. „Year after year, he ranks among the top agents - not just on the Monterey Peninsula, but around the world. We’re very fortunate to have him on the Coldwell Banker team.”

MARK LORD OFFICE MANAGER A forty-six year resident of the Monterey Peninsula, Mark brings over twenty-five years of construction management and engineering experience to the team. With his extensive experience as the general manager of one of the Monterey Peninsula’s largest construction companies and as the operations manager of a geologic and geotechnical engineering firm, Mark provides a level of experience, knowledge, and managerial skill not found with any other real estate team in the area. Quality service and a total commitment to client satisfaction have been the hallmarks of Mark’s professional career.

JONATHAN BALOG REALTOR With a background in Finance and International Business, Jonathan made the decision to relocate to the lovely Monterey Peninsula in 2014 after attending Temple University. Having been involved in real estate as an enthusiast, he decided to pursue a lifelong dream of selling real estate in 2015 and joined the team in 2016, offering his knowledge of online systems and an unwavering dedication to serve his clients. Jonathan believes the foundation for success is continuing education and is tasked with implementing newer technologies to supplement the success Tim Allen Properties has worked hard for over the past 25+ years.

ABOUT BELLA VISTA LAND ADVISORS

SAM GREASON ATTORNEY, BROKER, INVESTOR, DEVELOPER 925.890.2757 sam@bellavistalandadvisors.com BROKERAGE EXPERIENCE: As an attorney and commercial real estate broker in Northern California, Sam Greason has specialized in selling land to home builders, apartment builders and land developers in Northern California since 1993. DEVELOPMENT EXPERIENCE: Sam Greason has been involved as

a principal, investor or broker in numerous high-density, transitoriented, mixed-use projects, totaling over 4,000 apartments and 1,000,000 SF of commercial. In partnership with Chop Keenan of Keenan Land Company, Palo Alto, CA (2004-2007), Greason assembled the 2,000-acre River Run master-planned community in San Joaquin County and obtained preliminary entitlements for 9,000-homes. Greason also worked in forward planning and land acquisition for Perma-Bilt Homes, Walnut Creek, CA (1990-1991), where he assembled 500-acre projects in Sacramento, CA and Orting, WA.

LEGAL EXPERIENCE: Greason practiced real estate law in San Francisco and New York, including 3 years with Rubin Glickman & Associates in San Francisco, CA (1991-1993) and 3 years as inhouse counsel for homebuilder/developer Kean Development, Cold Spring Harbor, NY (1986-1989). EDUCATION: Greason earned a Bachelor of Arts degree (Cum Laude) from Cornell University in 1981, and his Juris Doctor from NYU Law School in 1984. AFFILIATIONS: Greason is a non-active member of the California

State Bar and is a real estate broker licensed by the State of California (Samuel Greason IV, Inc. dba “Bella Vista Land Advisors”, BRE #01237277).

PETER ZOLINTAKIS REAL ESTATE ADVISOR, INVESTOR, DEVELOPER DEVELOPMENT & INVESTMENT EXPERIENCE: In 2017, acted as

majority equity owner and managing member of 960 Atlantic LLC, which purchased 40,000 s.f. office building in Alameda, CA (still owned). In 2013-2017, co-invested with John Malone in over 4,000 apartment units in Austin TX, Denver CO, Long Beach CA, and Seattle WA, (still owned). In 2011, co-invested with John Malone in over 1,000,000 timber acres in Maine and New Hampshire (still owned). From 2011-Present, lead investor in multiple projects including 4 condos in Walnut Creek; 13 homes in Cupertino; 18-unit condo project in Walnut Creek; 7 homes in Almaden; 7 homes in Saratoga and 29 homes in Healdsburg.

BLAKE WELLEN BROKER ASSOCIATE SMALL BUSINESS & REAL ESTATE EXPERIENCE: 2005-2018 Owner

and General Manager of the Lafayette Car Wash – An awardwinning small business with 60+ employees and over 80,000 customers per year. Recognized by the community and industry year after year for performance excellence and environmental achievements. Over 14 years of expertise in sales and new business development. Privately invested in, renovated, and marketed residential and commercial real estate since the mid-2000s.

VISIT FERRINI-RANCH.COM

SAM GREASON

DRE #00891159

DRE #01237277

Team@TimAllenProperties.com

Sam@BVLA.net

831.214.1990

925.890.2757

Junipero 2 SW OF 5th,

305 Miller Court

Carmel-by-the-Sea, CA 93921

Orinda, CA 94563