Oxford Capital Group World Trade Center Proposal

REDEVELOPMENT OF
2 CANAL STREET
The City of New Orleans & the

New Orleans Building Corporation
RFP No.8975-01775
February 16, 2015
Oxford Oxford
Capital Group, LLC
Hotels & Resorts, LLC

Bureau of Purchasing
1300 Perdido, Suite 4W07
New Orleans, Louisiana 70112
February 16, 2015
RE: 2 Canal Street Redevelopment RFP Response Oxford Capital
Dear New Orleans Building Corporation and the 2 Canal Street RFP Selection Committee:
Oxford Capital Group, LLC is excited to submit our proposal and business plan for the historic
former World Trade Center building at 2 Canal Street in New Orleans. We have assembled
a team of highly skilled professionals with local and national experience who we believe
will best be able to execute this adaptive reuse historic preservation project. Our team has
worked diligently to create a program that we believe will best suit the historic building and
re-establish the property as one of the most prominent landmarks in New Orleans.
developer and manager of real estate investments, primarily in the lodging sector, since the
managing hotels and mixed use properties across the country. Oxford prides itself as being
an agile sponsor, a disciplined investor, a creative developer and savvy operator. The company
of approximately $2.5 billion of assets, representing ~$650 million in annualized revenues,
including ~13,000 hotel rooms and ~5,000 employees.
ranked hotel in the country by both Travel and Leisure and Trip Advisor, which includes 316
2 Canal Street has been one of the most visible and prominent buildings in the New Orleans
Oxford Oxford
Capital Group, LLC
REDEVELOPMENT OF 2 CANAL STREET | COVER LETTER
2 Canal Street is in serious need of renovation to bring the property back to life. Oxford and
its design and development team has envisioned a redevelopment and repositioning strategy
that will reestablish the property as a focal point of downtown New Orleans and serve as an
important bridge connecting many of the citys most popular neighborhoods while providing
of Louisiana. The redevelopment plan features a design inspired by the original Edward Durell
Stone architecture and New Orleans architecture and culture intertwined with the modern
event space at the top floor of the tower; full amenity floor including attractions such as indoor
and private event spaces.

We believe that our plans for 2 Canal will create a destination that will greatly enhance the
restaurant outlets and entertainment venues to add to the vibrant New Orleans nightlife, and
deliver new luxury apartments that cater to a rapidly growing community of downtown New
Orleans residents.
team is extremely excited about this opportunity and we look forward to working closely with
in the New Orleans skyline.
Sincerely,
John W. Rutledge
President & CEO
Oxford Capital Group, LLC
Tel: (312) 755-9500 x 4610
jwr@oxford-capital.com
Oxford Oxford
Capital Group, LLC
REDEVELOPMENT OF 2 CANAL STREET | COVER LETTER
TABLE OF CONTENTS
A
B
APPENDIX
17
19
45
77
79
89
Oxford Oxford
Capital Group, LLC
Entry and Roof Deck at the IO Urban Roofscape at The Godfrey Hotel in Chicago, Illinois
development plan | REDEVELOPMENT OF 2 CANAL STREET
Oxford Oxford
Capital Group, LLC
DEVELOPMENT PLAN
A.1
Oxford Capital Groups development plan for 2 Canal
luxury one and two bedroom apartments along with one,
two, and three bedroom penthouse apartments on the
space; 3-meal chef driven restaurant on the ground level;
space at the top of the building; full amenity floor including
attractions such as indoor pool, destination spa, club
lounge, game room, movie screening room, yoga studio,
and a new 5 story structure with 120 automated modular
pool and private event spaces. Each of the components

to the development is described in detail in the following
The summary table and Gantt chart on the following

pages give detail into our proposed development
schedule and various construction milestone dates.
Time Lapse photo of the New Orleans Skyline
Oxford Oxford
Capital Group, LLC
REDEVELOPMENT OF 2 CANAL STREET | development plan
Construction Permit Issued

Procurement
Bid Project
Bid/Document Reviews
Award Project
Contractor Procurement
Finalize/Sign Contracts
Mobilize on Site
Construction
Environmental Remediation
New Orleans WTC Redevelopment

Team Selection Finalized
RFP Awarded
Negotiations with NOBC
Financing Secured
Lease Agreement Finalized
A/E Design
Concept Design Approved By NOLA
Schematic Design
Design Development
Value Engineering
Construction Documents
Submit for Review to City of New Orleans
Submit for Review to Historic Preservation Society
1 day
49 days
15 days
10 days
10 days
10 days
10 days
4 days
509 days
20 days
555 days
58 days
26 days
21 days
30 days
33 days
186 days
30 days
30 days
35 days
10 days
35 days
45 days
45 days
Mon 1/25/16
Mon 11/23/15
Mon 11/23/15
Mon 12/14/15
Mon 12/28/15
Mon 1/11/16
Mon 1/11/16
Mon 1/25/16
Mon 5/11/15
Mon 8/31/15
Fri 3/6/15
Fri 3/6/15
Fri 3/6/15
Fri 4/10/15
Fri 4/10/15
Fri 4/10/15
Mon 5/11/15
Mon 5/11/15
Mon 6/22/15
Mon 8/3/15
Mon 9/21/15
Mon 10/5/15
Mon 11/23/15
Mon 11/23/15
Mon 1/25/16
Thu 1/28/16
Fri 12/11/15
Fri 12/25/15
Fri 1/8/16
Fri 1/22/16
Fri 1/22/16
Thu 1/28/16
Thu 4/20/17
Fri 9/25/15
Thu 4/20/17
Tue 5/26/15
Fri 4/10/15
Fri 5/8/15
Thu 5/21/15
Tue 5/26/15
Mon 1/25/16
Fri 6/19/15
Fri 7/31/15
Fri 9/18/15
Fri 10/2/15
Fri 11/20/15
Fri 1/22/16
Fri 1/22/16
Tue 2/23/16
Wed 2/24/16
Wed 8/24/16
Wed 8/10/16
Wed 1/11/17
180 days
170 days
100 days
90 days
30 days
40 days
47 days
25 days
15 days
10 days
0 days
Punchlist Work
Load FF&E and OFOI Assets
Staff Training
Final Clean
Grand Opening Events
Open for Business
Wed 1/11/17
Wed 1/25/17
Fri 2/17/17
Fri 3/17/17
Fri 4/7/17
Thu 4/20/17
Tue 2/23/16
Tue 3/7/17
Thu 3/30/17
Thu 3/23/17
Thu 4/6/17
Thu 4/20/17
Thu 4/20/17
Tue 10/18/16
Tue 1/10/17
Tue 12/13/16
Tue 2/21/17
Mon 10/31/16
Mon 10/31/16
Mon 6/27/16
Mon 8/22/16
Tue 1/26/16
Tue 2/23/16
180 days
Fri 10/23/15
Fri 2/12/16
Mon 5/30/16
Mon 5/30/16
Mon 9/28/15
Mon 11/23/15
Tue 1/26/16
Tue 1/26/16
Construct 4-story Ballroom Tower - See

Schedule Below
Construction of Hotel on 4-16 and Amenities
Floor 17
Construction of Residential Floors 19-30
Construction of Jazz Club
Civil Work for Dual Entries
Inspections and Certificates of Occupancy
Selective Demolition
20 days
Build Models for Residential Units
60 days
Install New MEP Risers
90 days
Recondition/Refurbish Mechanical
90 days
Components of Elevators/Escalators/
Revolving Restaurant Motor and Mechanical
Floor 17 and 32
Recondition Building Exterior
110 days
Construction of Lobby, Restaurant, Ballrooms 130 days
and Meeting Rooms on Floors 1-3
NOLA Annex Building

A/E Design
Concept Design Approved by NOLA
Schematic Design
Design Development
Value Engineering
Construction Documents
Submit for Review to NOLA
Construction Permit Issued
Procurment
Bid Project
Bid/Documents Reviews
Award Project
Contractor Procurement
Finalize/Sign Contracts
Mobilize
Construction
Excavation
MEP underground
Foundations and SOG
Walls
Steel
Roof
NOLA Annex Building

386 days
186 days
30 days
30 days
35 days
10 days
35 days
45 days
1 day
66 days
15 days
10 days
10 days
15 days
10 days
6 days
180 days
15 days
15 days
10 days
10 days
15 days
15 days
386 days
Mon 5/11/15
Mon 5/11/15
Mon 5/11/15
Mon 6/22/15
Mon 8/3/15
Mon 9/21/15
Mon 10/5/15
Mon 11/23/15
Mon 1/25/16
Mon 11/23/15
Mon 11/23/15
Mon 12/14/15
Mon 12/28/15
Mon 1/11/16
Mon 2/1/16
Mon 2/15/16
Tue 2/23/16
Tue 2/23/16
Tue 3/15/16
Tue 4/5/16
Tue 4/19/16
Tue 5/3/16
Tue 5/24/16
Mon 5/11/15
Mon 10/31/16
Mon 1/25/16
Fri 6/19/15
Fri 7/31/15
Fri 9/18/15
Fri 10/2/15
Fri 11/20/15
Fri 1/22/16
Mon 1/25/16
Mon 2/22/16
Fri 12/11/15
Fri 12/25/15
Fri 1/8/16
Fri 1/29/16
Fri 2/12/16
Mon 2/22/16
Mon 10/31/16
Mon 3/14/16
Mon 4/4/16
Mon 4/18/16
Mon 5/2/16
Mon 5/23/16
Mon 6/13/16
Mon 10/31/16
Glazing
Exterior Finishes
Interior Buildout
Punchlist and Final Inspections
Certificate of Occupancy
10 days
15 days
60 days
15 days
0 days
Tue 6/14/16
Tue 6/28/16
Tue 7/19/16
Tue 10/11/16
Mon 10/31/16
Mon 6/27/16
Mon 7/18/16
Mon 10/10/16
Mon 10/31/16
Mon 10/31/16
An adaptive reuse project of this scale, if not managed

appropriately, can result in schedule delays, costs
risk. Common complications and pitfalls for adaptive
reuse projects relate to environmental/abatement work,
structural work, faade and window repairs, egress
Our team has toured the building multiple times, and we
know certain challenges exist such as environmental
remediation, structural, faade, and window repairs and
replacement, ingress and egress complications and
re-shuffling and repairing the vertical transportation.
capable owner, developer, and manager with extensive
experience in large scale adaptive reuse hospitality and
projects have had similar or more complicated scopes
than what we are proposing for 2 North Canal. Select
Oxford experience as the lead developer is detailed in
pages
Additionally, our local general contractor,
interior, we plan to further enhance the surrounding

area by redeveloping the northwest corner of the site
into a new pedestrian plaza that mirrors the design and
a deep knowledge of the building, which gives us great
landscape. We also plan to clean up and restore the

existing plazas and design detailed landscaping work to
further add color and beauty to the surrounding area. As
shown in the renderings in Appendix- Section B on page
19 we will add two new cul-de-sacs on the north and
south side of the tower to be utilized by hotel guests and
residents and to give easy street access to the building.
These improvements to the site will visually extend the
our proposed renovation on time and within budget.
site through the waterfront, seamlessly connecting Canal
redevelopments of the building since the mid 1990s

and has toured the property over 20 times in the past
An additional challenge is that Oxford will need to receive

zoning approval to execute our vision for the project,
to the South of the existing tower. We hope that by
picking Oxford as the developer for this project the city
is in agreement with our proposed business plan and will
collaborate with our team to attain the necessary zoning
Oxford has extensive experience working collaboratively
with local city zoning and planning departments, as well
necessary approvals for adaptive reuse and historic
Our teams development plan will generate substantial

reestablishing an important historic landmark in the New
Orleans skyline as a new destination integral to the New
Orleans community, including both locals and visitors.
2 Canal Street is located in the heart of downtown
Warehouse District neighborhoods, is also adjacent to
Casino, and is located within a few blocks of some of
New Orleans most popular leisure destinations such as
repositioning of the property with a high design lifestyle

hotel, luxury apartments, world class restaurants, and
multiple high energy nightlife venues, will help form a
permanent linkage between these distinctive downtown
neighborhoods and reestablish 2 Canal as a focal point
in the City of New Orleans, improving the already special
New Orleans experience for locals and visitors.
approachable to pedestrians. We believe this will add

to the excitement around the area and better serve the
property allowing it to become the destination location
we envision.
implement are rotating art galleries and museum
installations showcased in the pre-function areas
on level 2 and level 3, accessed by historic elevators,
and selectively placed within the restaurants and
the work of both established and up and coming local
artists, guests will have an opportunity to experience the
creativity and talent that flourishes in New Orleans.
We plan to seek collaborative relationships with prominent New Orleans cultural organizations and museums,
such as the Contemporary Art Center and New Orleans
interactions with local artists and art collectors. These
elements will also be generally complemented by the
overall design of the hotel interiors that will strive to
embrace notable elements of New Orleans history and
culture.
annual visitors to 13.7 million and visitor spending to
Oxford Oxford
Capital Group, LLC
$11 billion by the citys tricentenial anniversary in 2018.

As part of this initiative, the city of New Orleans has
to the hospitality industry, encourage and facilitate the
new marketing strategies, and drive the transformation
open mid-2017, this proposed mixed use asset will
New Orleans goals for visitation and visitor spending
by its centennial anniversary in 2018. Developing a new
luxury lifestyle hotel catering to both business and leisure
travelers with multiple indoor and outdoor restaurant
and entertainment venues featuring both indoor and
a new exciting destination location that will reinvigorate
income taxes for the city and state. These taxes and fees
are summarized in the above table and along with the
ground lease/revenue share economics, are projected to
stabilization. Over the course of the development phase
over the full 99 years of the ground lease, these revenues
will generate billions of dollars in income for the City and
State.
substantial job creation resulting from the hotel,
meetings catering, retail, and parking components of
the project. Our business plan contemplates multiple
restaurant and entertainment outlets and a sizeable hotel
adjacent neighborhoods, and increase visitation and

visitor spending in New Orleans. Additionally, 166 luxury
residential units will bring new permanent residents
into the area that will inject further life and energy to the which dedicate more floors to relatively lower job creating
uses such as parking and residential. The charts on page
75 provides a detailed projected job creation summary,
including ~275+ new full time and ~85+ part time
We believe our development and business plan is the
highest and best economic use for 2 Canal and will
Additionally, over 800 construction jobs will be generated
allow our team to contribute considerable ground lease over the estimated 2 year development phase of the
economics / revenue participation to the City of New project, with an average annual salary of approximately
$50,000. These newly generated jobs will result in higher
disposable income throughout the community, and thus
plan will generate substantial hotel rooms taxes, food help further stimulate the local economy.
and beverage taxes, sales taxes, property taxes, and
Oxford Oxford
Capital Group, LLC
A.2
parking, and multiple retail, restaurant and entertainment venues. This programming, along with the exterior
improvements, enhanced landscaping and urban design will create a hugely popular world class destination in New
Orleans and further energize the surrounding areas and community. Oxfords proposed redevelopment of 2 Canal
Street includes the following key highlights below, more detail can be seen in the Appendix- Section B on pages 1-2.
516 Room Luxury Lifestyle Godfrey Hotel New Orleans
hotel brands, including the award-winning Godfrey
and event space in the city, with sweeping views of the

Chicago skyline. The Godfrey Chicago will be joined by
its sister property, the Godfrey Boston in late 2015, and
The Godfrey brand caters to leisure, business and convention hotel guests, while also creating restaurant and nightlife
destinations for local residents and visitors alike. The brand targets the lifestyle guest seeking a high design, social,
and stylish environment. Catering to this emerging demographic is particularly important for New Orleans as the city
continues its efforts and success in staying relevant and achieving new records in leisure and business visitation. We
would be interested in being partners in The Godfrey New Orleans, offering global reservation systems and loyalty
programs. Though we will continue to consider these options, as mentioned above, we are comfortable with and
The hotel will feature several indoor and outdoor restaurant and nightlife venues for hotel guests, apartment residents,
locals, and visitors. These venues will be designed to provide guests with an authentic New Orleans dining and
the building described below can be seen in the Appendix- Section B page 19.
10
Oxford Oxford
Capital Group, LLC
Food and Beverage, Meeting Space, and Entertainment Venues:

Two story chef-driven 3 meal restaurant on the ground and second floors featuring outdoor
High energy Lobby Lounge with double height feature bar that will serve signature cocktails with
ample approachable seating.
31st floor Jazz Club on the east and north wings of the building with floor to ceiling windows
performances that guests can enjoy within an intimate venue that pays tribute to New Orleans culture.
Top Floor Lounge that reactivates the famous rotating circular platform paying homage to the
for over 30 years from the 1970s through the early 2000s. The lounge will feature floor to ceiling
windows that provide guests with 360 degree views from one of the highest vantage points in the
city. Oxford plans to create an upscale lounge and event space on this floor that will be one of the
most exclusive and sought after entertainment venues in New Orleans.
13,000 SF outdoor rooftop pool and event space sitting atop a new 5-story annex building
will become a destination venue for locals and visitors, providing entertainment during the daytime
and evenings. This venue will be flexible space that can accommodate corporate events as well as
pool, private spaces on multiple levels, and views of the river and city.
The above mentioned 5-story annex building, in addition to the above outdoor rooftop venue, will include the following
1,700 square feet of prime ground floor retail/restaurant space.
~120 parking spaces utilizing automatic, modular, robotic parking. As such we will still need to
lease a to be determined number of spaces from the adjacent city owned parking lot. Our comments
to the parking agreement can be seen in pages 109-111.
9,750 square foot column-free, double-height grand ballroom on the third floor connected to
pre-function and meeting space in the existing tower accessible by the existing historic escalators.
Oxford Oxford
Capital Group, LLC
11
166 Luxury Apartments Units

Oxford plans to develop 166 spacious luxury apartment units on floors 19-30 that will include one and two bedrooms
amenities with the luxury lifestyle Godfrey hotel beneath will set these residences apart from the competition.
A full proposed unit mix is shown below and drawings and renderings of the apartments can be seen in the AppendixSection B.
Schedule of Market Rents and Unit Mix

Unit Type
Unit Mix
#/Units
SF/Unit
Total SF
Total/Avg.
100.00%
166
1,206
200,122
The 18th floor will feature an expansive collection of amenities, with some restricted to just apartment tenants and
others that will be shared by both the hotel and apartments. The amenity floor will include an indoor pool, destination
library, as well as the many hotel amenities and public food and beverage and entertainment venues throughout the
building.
energy and culture of the city.
12
Oxford Oxford
Capital Group, LLC
Building Exterior
The buildings exterior precast pebbled faade will remain and will be repaired, cleaned, and coated to give the
can illuminate the building, and all upper floor windows and curtain walls will be replaced. The third floor balcony/
new annex tower. The existing roof system will be removed and the roof decking will be inspected and repaired. A
Oxford Oxford
Capital Group, LLC
13
Improved Urban Design

As part of our renovation, we plan to redesign the exterior landscaping around the property and better connect it to
of the site into a pedestrian plaza that mirrors the existing Spanish and British plazas adjacent to the site. This new
feature the statue of Bernardo de Galvez surrounded by monumental flagpoles, benches, green infrastructure, and
elements and lighting up the building along the louvers will illuminate the iconic building in the New Orleans skyline,
cementing its position as a prominent New Orleans landmark.
Improved Landscaping
planting palette material references to our semi-tropical latitudes with a rich range of palms, flowering trees, colorful
shrubs and vibrant seasonal color. These plantings provide shade, create spaces, frame views, encourage outdoor
activities and simply soften and beautify the surrounding hardscape.
WTC and the Casino, we propose utilizing trees and ground covers for the neutral ground along Convention Center
Boulevard. We also propose planting small flowering trees adjacent to outdoor seating areas, and evergreen shrubs
to screen utility and service areas. The railroad corridor shall feature lawn between the tracks, and the slopes along
the floodwall shall have planting beds featuring a medley of colorful flowering and evergreen shrubs.
14
Oxford Oxford
Capital Group, LLC
A.3
Oxford plans to redevelop 2 Canal into The Godfrey New Orleans, which will be a high design luxury lifestyle hotel,
leveraging the success of The Godfrey brand with hotels open and/or under development in Chicago and Boston as
and collections that would be interested in being partners in The Godfrey New Orleans, offering global reservation
systems and loyalty programs. Though we will continue to consider these options, as mentioned above, we are
as New Orleans.
New Orleans, leveraging our envisioned distinctively designed guestrooms and world class amenities that will be truly
Godfrey Chicago exhibits an extremely strong social media strategy where we see on average over 30 million
in the coming months upon opening and have already begun management activities in the preopening stage of
59.
base case plan is to self-manage the hotel, residential, and several of the restaurant/entertainment venues directly,
while leveraging through a capable and experienced staff, hired primarily locally. That said, Oxford is in advanced
discussions with well-known local restaurateurs with proven track records who will assist in concepting and executing
many of the propertys proposed food and beverage venues.
Oxford Oxford
Capital Group, LLC
15
The Godfrey Hotel in Chicago, Illinois
16
project design | REDEVELOPMENT OF 2 CANAL STREET
Oxford Oxford
Capital Group, LLC
PROJECT DESIGN
B.1- B.4
MASTE
The
inTenT of These drawings is To depicT concepT only.
noT
for
These drawings are

layouT, dimensions and areas are approximaTe and
design and layouT are subjecT To revision upon
field condiTions. The configuraTion and locaTion
of The building(s) relaTive To The exisTing siTe, properTy lines and adjacenT
properTies is assumed and requires confirmaTion via acTual siTe survey.
require
consTrucTion.
field
confirmaTion
GUEST ROOMS
STAIRS / ELEVATORS
/ COMMON
RETAIL
B.O.H
RESTAURANT/
AMENITY SPACE
PARKING
verificaTion.
of
exisTing
WORLD TRADE CENTER NEW ORLEANS, LA | SITE PLAN
SITE PLAN
1 = 100-0
16 FEBRUARY 2015
page 2
GETTYS 2014
Oxford Oxford
Capital Group, LLC
DANA BR WN
Asso iates
REDEVELOPMENT OF 2 CANAL STREET | Project design
17
Skyline image at night in New Orleans, Louisiana
18
development team
| REDEVELOPMENT OF 2 CANAL STREET
Oxford Oxford
Capital Group, LLC
DEVELOPMENT TEAM
C.1
This team has the expertise and past success on
numerous projects similar in nature to this endeavor.
National and local experts have come together to
provide this important project the high level of expertise
Consultants, L.L.C., and Dana Brown & Associates; all will

provide civil, structural, mechanical, electrical, plumbing,
Oxford has selected The Gettys Group based on a long

standing relationship over the past two decades. The
Gettys Group has provided to Oxford interior design and
procurement services across multiple proposed and
completed projects, including most recently The Godfrey
years and have maintained a location and presence in the

New Orleans area. These teams have worked together in
the past and can bring a sense of stability to this project
from a local perspective.
area specializes in new construction as well as interior
and exterior renovations. Theyve successfully provided
perspective, over 225 years of experience and has

This project however has an absolute necessity for local
participation and the team to date includes New Orleans
consultants throughout the years.
Their understanding of the project site, as well as federal,

state, and local historic guidelines, zoning, and codes
will assist our team in providing a thorough and rapid
previous projects and has a strong relationship with

them.
Proposed Convention Center Elevation, New Orleans, Louisiana
Oxford Oxford
Capital Group, LLC
REDEVELOPMENT OF 2 CANAL STREET | development team
19
John W. Rutledge
Founder, President & CEO
O: 312.755.9500
E: JRutledge@oxford-capital.com
Sarang (Sar) Peruri
Principal
O: 312.506.4112
E: SPeruri@oxford-capital.com
Developer
Oxford Capital Group , LLC
312.755.9500
Brad Mulvihill
Principal
O: 312.506.4113
E: BradM@oxford-capital.com
Matthew Kalt
Senior Analyst
O: 312.506.4116
E: MKalt@oxford-capital.com
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development team
Oxford Oxford
Capital Group, LLC
Owners Representative/Project Management
General Contractor
Architect of Record
New Orleans, LA 70130
ID/FF&E Procurement
The Gettys Group
312.836.1111
Structural
Landscape Architect
Dana Brown & Associates
DANA BR WN
Asso iates
MEP Consultant
2626 Canal Street
Oxford Oxford
Capital Group, LLC
21
Oxford
Capital Group, LLC

Oxford Capital Group, LLC is a national real estate
redevelopment of the landmark London Guarantee

endowment funds, pension funds, foundations, publicly
fund managers. Lenders include investment banks,
Chicago along with an adjacent parcel of land at 77 East

Wacker Drive for conversion into a new lifestyle hotel
above two stories of upscale retail; the approximately
credit companies.
Oxfords
investment
activities
have
historically
areas of focus are hotels, resorts, conference centers,

senior housing and other operationally intensive real
estate. Other areas of interest include parking, retail,
focused primarily on the consumer sector including
nies, consumer retail, healthcare, a mobile technology
presence in Boston, Charleston and New York City.

Oxford prides itself as being an agile and astute
sponsor, a disciplined investor, a creative developer and
dynamism and energy with rigorous analysis, thorough
research and an institutional level of professionalism.
management, property management and ownership
of approximately $2.5 billion of assets, representing
approximately $650 million in annualized revenues
across approximately 13,000 hotel rooms and
approximately 5,000 employees.
As a highly disciplined investor, Oxford historically has
employed conservative capital structures and longer
term debt solutions for maximum flexibility and staying
power.
360 North Michigan Avenue/London Guarantee Building
Chicago, Illinois
22
development team
Oxford
Capital Group, LLC
Sarang (Sar) Peruri

Principal
While at Oxford Capital Group, LLC
John W. Rutledge
Founder, President & CEO
asset
management,
property
approximately $1 billion
of new
investment responsibilities include
project management responsibilities include project

budget analysis, bid review and design and construction
opportunities across the real estate spectrum and also
simultaneously completing an extended internship at
company, Oxford Capital Group, LLC, a successor
began his career working in the investment banking
training program.
the year long General Course program at the London

School of Economics.
Graduate School of Business with an emphasis in
23
Oxford
Capital Group, LLC
Brad D. Mulvihill
Principal
While at Oxford Capital Group,
Lawrence (Larry) B. Cummings

Principal
Larry Cummings is a Chicago
native with over 25 years experience
involved in approximately $1 billion

record encompasses the hospitaliprimary hotel investment responswriting, due diligence coordination, deal origination
sectors and he has served as a principal in both privately held and publicly traded companies.
construction project management responsibilities

include project budget analysis, bid review and
advisor for hospitality and senior housing transactions,
responsible for select investment opportunities across

the real estate spectrum and in the corporate private
activities included leading the leveraged buyout of
six years of real estate principal investing experience
writing, transaction structuring and due diligence

Old Town Alexandria, negotiating a $57 million
received a Bachelors of Business Administration from
School of Business in 1980, concentrating in real estate
24
development team
Oxford
Capital Group, LLC
Matthew Kalt
Senior Analyst
investment responsibilities include
performing due diligence, market
research and analysis, as well as
is also responsible for select investment opportunities

across the real estate spectrum and in the corporate
Kerry OHare
Controller and Senior Vice
President, Finance
cial reporting and tax, treasury
private sectors for both domestic and international

entities.
billion company formed primarily by Goldman Sachs

performing due diligence, conducting market
research, as well as providing support with the asset
management of a student housing portfolio valued at
over $100 million.
George Jordan
Senior Vice President of
Operations, Oxford Hotels &
Resorts
hotel industry for 30 years including The Arizona Baltimore
the development team to purchase and convert to an
George rose through the ranks while attending college
is an integral part of the programming and strategic/

and developments.
25
Rider Levett Bucknall

providing the best property and construction advice
expertise and manpower to provide local, regional and
multinational clients with the best possible service.
Our clients are local, regional and multinational. They
include governments, developers, investors, occupiers
and contractors in all sectors ranging from airports
through to zoos.
Rider Levett Bucknalls long history can be traced back to
Henry Cooper, the son of a master carpenter. Today, Rider
providing clients with independent, unbiased, expert advice and
management support for all aspects of feasibility, estimating
and scheduling of major projects, from conceptual studies
ing.
Rider Levett Bucknall has a passion for innovative ideas and
years, our professionals have been adding value by managing
total project cost, schedule and risk while transforming
projects into tangible results.
cost consultancy, project management and advisory
services from conception through the design and
construction. The depth and breadth of our services
reflect a commitment to delivering superior customer
services and solutions which help our clients succeed.
We understand the relationships of value, time and cost
from inception to completion.
Interior and Exterior images of ARIA Resort & Casino

City Center, Las Vegas, Nevada
26
development team
. Montie Garrison
Julian Anderson
President
Associate Principal
-
main point of contact for many of

General Services Administration
experience ranges from $100,000 to several billion
dollars; providing advice on construction cost, conditions
of contract, contract documentation and contract
administration.
-ment and cost control with more than ten nationally
to various industry organizations on construction trends
owners and architects with the planning and management
cost conscious and environmentally sustainable project
projects ranging in size from 3,000 to 1 million

as a technical, economic and demo graphic research
analyst and writer for Tracy Cross & Associates, a
have allowed him to lead or participate in the research,
planning, design, development and construction of
a very broad spectrum of project types from high
rise commercial and hospital, to hospitality, resort,
residential and planned unit developments across a
wide geographic area.
Jason Schultz, LEED AP BD+C
Associate Senior Cost Manager
is a Senior Cost
provides services that include
construction cost estimating,
value engineering efforts and has provided
construction consulting services for a wide variety
Ruben Rodriguez
Senior Manager
industrial and transportation markets.
partnership over 35 years of construction & business development

experience. With extensive experience in mixed-use, commercial &
hospitality projects & public private development Design
Troy Riley, CHC, LEED AP

BD+C Project Manager
construction industry. Nine years

successful project to fruition. By using his skills gleaned
from years managing complex public and private
projects he works to bring the right mix of local & national
commercial partners together to maximize revenue
potential.
Superintendent and Subcontractor. Three years in the

Building Trades. Troy is the main point of contact for
the architect, engineer, and client from preconstruction
to construction and through to project closet out.
cost management, contract negotiation, and client

retention management. Troy has experience working
on a wide variety of projects such as those in the
partnering & participation program manager.
27
The McDonnel Group

Louisiana
-based general contractor that provides comprehensive
services that go beyond the mere construction of new
projects. The ability to understand not only the
construction process but also the overall design,
development, and usability of each project distinguishes
us from our competitors. Our staff and ownership
unparalleled. With an average of 25+ years of experience
ments that are critical for success.
by utilizing innovative solutions that provide optimum

results. Whenever there is a more professional way to
project engineering to construction management and
being able to manage each project from inception to
end. Our extensive hands-on experience, combined with
our dedication to precision workmanship, gives clients
the assurance that we understand the sophisticated
demands of each and every detail of their project.
new building, additions, interior and exterior renovations,
and remodeling. We tailor our services to each project
and clients individual needs including design support,
preliminary budgeting, resource and logistics planning,
scope management, project scheduling, project
administration, and supervision.
Focus On Sustainability
every project - whether or not the client is pursuing LEED
LEED accredited project management, engineering, and
estimating staff
Complete sustainability reviews and common sense
application of environmentally responsible building
practices
Solutions that can lead to long term cost savings and
optimization of building systems performance
Safety Standards
We understand the critical importance of safety. Since
our inception it has been our endeavor to develop a truly
elite safety organization. We constantly work to maintain
this elite status through a program that embodies all of
Organizational culture of safety that starts at the top
Accident prevention, with a strong emphasis on training
Aggressive claims management that minimizes costs
but includes the very best in medical care and rapid return to work objectives
Safety Reporting System that includes accountability at
all levels of the organization
Safety Incentive System that recognizes and rewards
safety excellence
The results speak for themselves.
We are committed to building long term relationships

service and innovative solutions, all the while focusing on
the details and expectations of our clients construction
needs. A critical feature of our service seeks to identify
and effectively address the impact of a facility on the
end-users. We take the time to learn about the priorities
and needs of our clients, which assists us in determining
how our services can best meet or exceed all of their
construction goals.
Best Practices
Commitment to maintain our impeccable record of safety
plan that addresses clients needs and achieves their
expectations and goals
Comprehensive Quality Assurance Program
Owner concerns and challenges are solved in a collaborative environment
Interior image of the Omni Royal Orleans Hotel

New Orleans, Louisiana
28
development team
Allan McDonnel
President
Allan has gained over 29 years
of experience in the construction
industry. Thoughout his career,
he has served in a variety of leadership positions with several
leading New Orleans
Tony has over 29 years of construction experience

and has served as superintendent on major projects
New
-
Orleans
several historical renovation projects.
to become one of the most respected construction

rganizations in Southeast Louisiana performing work in
both the public and private sectors with annual revenues
in excess of $75,000,000.
clients including Louisiana State University, Tulane

and the New Orleans
New Orleans
Jason Zuckerman, AIA, LEED AP

Vice President
sign and construction industry for
over 25 years in South Louisiana.
Orleans
Armstrong New Orleans
New Orleans
where he received both his Bachelor

industry for several years primarily focused in design of
New Orleans
University of
-
out of the design arena and moved on to focus on physical construction and project management.
New Orleans
Allan is responsible for the overall operations of The
Tony Montalbano
Vice President, Field Operations
ations, Tony is responsible for
including project logistics, manpower,
company safety plan
administrator and educator, management of subcon-
Over the past 12 years, he has managed the construction

of many health care, hospitality, education, industrial,
institutional, tenant improvement and other projects in
South Louisiana
projects.
management staff including senior project managers,
project managers, assistant project managers, project
for all aspects of construction for multiple projects
an effort to continue in his efforts to promote sustainable
of experience and knowledge of welding, heavy machine

he holds several safety and business accreditations for
Construction Services.
Louisiana
Chapter.
29
Montgomery Roth
Architecture & Interior Design
W
for architecture, interior design, furniture and lighting
design, purchasing, installation and then some.
Lisa Roth, RA, RID, AIA

Principal
the Bahamas in both the residential and hospitality

realms.
Architecture where she graduated
architects and interior design professionals possessing

two times the skill sets, two times the expertise, and
two times the insight to go above and beyond for the
betterment of their clientele. Together they manage
and architecture focusing on design and project

management, which is demonstrated in her work with
hospitality, residential and corporate interiors projects.
and half of whom are architects a blend of multiple

disciplines to provide clients with an approach that truly
is all encompassing.
Kelly Nicklas, AIA, LEED AP

Partner
with a degree from Louisiana
State University
assists in guiding a successful design that produces

Adding crucial ingredients such as personal attention,
client participation, and open communication allows
projects for the highest and best use. Every project
provides a challenge, but the solution begins with good
listening.
respect for the clients budget, rigorous project
management, and staff experience with hospitality
and residential projects ensures success for each of
our clients. Our understanding of complex programs,
restrictive sites, historic guidelines, zoning, and codes
for projects to ensure an early path to success. With
a seasoned staff of architects and interior designers,
lving
to meet the challenges of todays technology to better
serve our clients.
20 years of professional experience.

construction administration of complex commercial
New
Orleans
manage multiple projects consisting of a wide range of
building types.
Rhonda Smith
Partner
years of experience in interior design
and illustration. Before joining
commercial interiors.
Johnathan Polk
Intern Architect
a degree from Louisiana State
University.
architectural experience which
includes work as a team memberresponsible for design, document production and
Sheraton New Orleans Hotel | New Orleans, Louisana
30
development team
understanding and keen sense of design to all projects,

their scope of work, and the factors that determine their
use and aesthetic.
Michael Mageau, RA, NCARB

Associate
-
experience, developing his skills as an upcoming

architect, and working towards his licensure.
Science
and
Bachelors
of
Architecture where he graduated
Nathaniel Parks, RA
Project Architect
Nathaniel graduated from Louisiana
Tech University
Louisiana
with a Bachelors of Architecture in
of projects including palaces in Saudi Arabia, hotels and

casinos, research development centers, corporate
residential and urban development projects.
.
Emily Stewart, RID- Associate
Emily has a Bachelor of Science with
successfully managed and coordinated interior design projects
from concept through completion.
She has completed multimillion dollar projects
and coordinated architects, consultants and vendors to
on space planning, designing custom millwork, furniture

and lighting and developing complete construction
drawings by coordinating architectural design elements,
administration duties, working closely with contractors,

approving submittals, and conducting on site inspections.
Corey Newell
Intern Architect
Architecture from the University
of Louisiana
years experience as an Architect and

has participated in numerous projects including hospitality,
centers, and multi-family residential,retail, and sports
facilities. Nat has expertise in documentation, construction
administration, and contractor and client interaction.
and continues to help rebuild New Orleans. Nathaniel
Megan Chopin Jensen

Intern Interior Designer
Louisiana
State University. She was accepted
into the highly competitive, selected
admissions interior design program
recognized for obtaining accreditation from the Council
design. She has a few years of part-time experience in

a variety of design programs, focusing on producing
New
Orleans. The project consisted of research about the
site and building, code compliance analysis and utilization, space planning, construction drawings, renderings,
working towards his Licensure with over 7 years of

execution, project execution, and project documentation
in a various range of project types.
when possible.
31
The Gettys Group

Their people are driven to create and innovate, yet this
three decades they have grown from a team of four
professionals.
to ensure the best possible return on investment for

their clients.
The Gettys Group mission is to produce extraordinary
Their people come from a variety of backgrounds, cultures,

talents, they are united by a singular passion to create
designs that work.
As a global team with local understanding. Gettys has
hospitality into unexpected places. To enrich the lives of

those that experience the end result of the projects they
collaborate on with you. They know what the emerging
consumer wants and are going to help you give it to
them. Every single time.
of our reach, are held together by close-knit bonds,

of family is the Gettys way the vision of their founders,
how the company grew, and how they are continuing to
expand their scope.
The Gettys Group was born out of a shared belief that
there must be a way to assess and bring value to
projects while maintaining elevated values aesthetically. They would like to say that they had a master plan at
the start, but in fact, it is their lack of rigidity and ability to
adapt and evolve that has carried them so far for so long.
At Gettys they understand the owner mindset. They
may be designers, but the business focus of their
founders ensures they bring an invaluable sense of
pragmatism to every client interaction.
Entry at the IO Urban Roofscape at The Godfrey Hotel in

Chicago, Illinois
ery project from a business perspective, blending innovative design with value analysis, investment strategy
and risk mitigation.
As seasoned developers themselves, they have not only
experienced the same challenges and opportunities as
their clients, but they understand the real world and can
help clients navigate its complexities.
The Gettys Group brings expertise in hotel operations
. They have an obsessive attention to detail
and bring a collaborative work ethic to each and every
project.
32
development team
IO Urban Roofscape Bar Seating at The Godfrey Hotel in

Chicago, Illinois
Daniel Welborn, AIA, LEED AP

Principal
As principal in charge of Gettys
hospitality design practice in the
Americas, Dan is able to extend his
passion for great and sustainable
design to the hospitality industry.
Ben Nicholas
Design Director
of Gettys global growth. DescribGettys as an intern a decade
ago and has been one of Gettys
disciplines of planning, architecture and interior design.

Coupling this with integrated business objectives,
Dan and the team at Gettys have created a formula
based out of Chicago as Design Director. Ben leads his

design teams and is responsible for design development
and documentation, strategic design thinking, project
oversight and team development.
success.
Bens recent works include a brand enhancement
branded spas, upscale social/business hotels such as
sioned to lend his talents to major hotel brands such as
Thought Leader Summit in Toronto.
Ron Degen
Designer
Meg Boyle, NCIDQ, LEED AP
Senior Project Designer
of experience implementing all
phases of a design project from
concept through construction in
commercial, hospitality, retail, and
enced by his diverse educational

background in both interior design
ground brings value to the design
design but also being able to speak on all major
elements of a project such as scheduling, and time
detail, organizational skills, and understanding the clients
contributed on such projects as the Westin Abu Dhabi
recognized for Store of the Year for Bath & Body Works,
Apartments.
33
Julien Engineering & Consulting

Kerwin E. Julien, Sr., PE, MSCE
President/Owner
in civil & structural engineering and construction

administration & inspection. We assist clients in an
expedient manner and provide accurate cost effective
engineering. Our project interests are maintained in buildings, transportation features, roadways, storm sewer,
drainage, sewerage, water supply, structures, site
development, foundations, and other areas related to
infrastructure development and improvement.
experience on many engineering

design and management projects
mainly in Louisiana
diverse group of governmental agencies, industrial
plants, commercial establishments, private residents,
registered professional engineer with active licenses in
Louisiana
tional Airport, the Sewerage & Water Board of New Orleans, Orleans Levee District, and the Small Business AdWe have the supporting facilities including advanced
to complete any engineering task in a timely manner.
tration, resident inspection, and development of plans,
civil/structural projects involving work on public buildings and infrastructure. As demonstrated through our
vast experience with past clients, we have the profesto perform the necessary work above the expected
conception to successful completion providing leadership to dynamic teams of owners, contractors, public
agencies, private institutions, and the public.
general management of the company and provides

in analysis, design, project management, construction
administration, inspection, assessment, and project
development.
drainage, sanitary sewerage, water supply, floodwalls,
bulkheads, levees, earth retention, foundations, fram-
and design of roadways, sewerage, drainage, water

supply, reinforced concrete, foundations and retaining structures, structural steel, timber and reinforced
design and re-development of New Orleans after the
to demonstrate his ability to coordinate with multiple
design disciplines to accomplish structural and civil
related design for several federal, state and private
projects will multi-million dollar construction budgets.
Through his vast knowledge and experience with
design and analysis that minimizes construction

conflicts, mitigates change order laden plans and he
provides industry leading construction administration.
Fifth and Seventh School District | New Orleans, Louisana
34
development team
Brian Anderson, PE
Project Engineer
Brian Anderson has more than 15
years of experience and has worked
on various civil/structural projects
including roadways, sanitary sewerage, stormwater drainage, building
structures and a myriad of other new and rehabilitation
tions,
manages the bidding process, and performs construction
assessments and developed reports for many projects
involving documenting existing conditions and damage
to infrastructure and projects resulting from various
various software packages and offers fresh ideas and
to-date with new technological advances and his work
and construction administration experience with new

construction and renovation projects ranging over
responsibilities include overseeing execution of
engineering design and development of plans and
responsibilities include, but not limited to, approval of
contractor pay applications, enforcing the project
tance of the projects. These projects include civil and
structural projects for public, commercial and private
clients.
James Green, PE
Project Engineer
of experience in various areas of
engineering, construction, and
civil and structural engineering
New Orleans.
oversaw the design and construction of several school

projects that included civil and structural engineering.
Georgia Department of Transportation developing
and rehabilitating roadways, bridges, and various
other transportation structures. As a superintendent
projects helping to rebuild the infrastructure of the Gulf
Coast region. These projects include the renovation and
remodeling of several housing developments for the
New Orleans as well as the Desire
Neighborhood Development Corporation.
commercial construction projects in his career as a
and managed the construction of several public works
roadway projects. The design responsibilities for these
roadway projects included but were not limited to
the design of storm drainage systems, potable water
distribution systems, large diameter sewer main systems,
asphaltic concrete roadways, reinforced concrete roadways and pedestrian thoroughfares. The construction
administration responsibilities for these projects included
monitoring and approving contractor means and
methods, review and approval of asphalt and concrete
experience, he has designed and prepared plans and

concrete structures, wood structures, pavement
drainage, water systems, and sanitary sewer systems.
Often the project teams for these projects included
multiple disciplines.
35
DANA BR WN
Asso iates
creation of landscape architects and planners who
have practiced in diverse professional realms and
geographic regions. We are one of the largest landscape
Louisiana with
New Orleans
Louisiana natives who have worked

Louisiana
cultural, economic, and ecological heritage which we
incorporate into all of our designs whole-heartedly.
Our philosophy is focused in planning legible landscapes
that respond to the ecological integrity of the land and
reflect the cultural heritage of its people. Dana Brown
& Associates shares a distinct vision for planning in
Louisiana
spaces, ecologically based sustainable infrastructure,
and the clarity of simple, beautifully crafted plans and
policies based on the principles of smart growth.
Working closely with multidisciplinary teams, DBAs
extensive experience includes stormwater and floodplain
management, transportation corridor planning, urban
design, economic development, park and recreation
design and construction, health center planning and
construction, campus master planning and construcmunity and master planning and participation, land development regulations, guideline development, regional
planning, and ecological-based design.
Firms presence in and commitment to New Orleans:
New Orleans, LA 70115. Because of our
presence in New Orleans, DBA will be responsive to the
needs of the City and can be available for meetings and
that our time will be spent working for you on the project,
not traveling. We are here in New Orleans and we are
invested in the region.
36
development team
DBA has an abundance of New Orleans region project

experience to provide the valuable guidance to the City
of New Orleans as decisions are made affecting the
natural and built environments in which they live, work,
and play.
Stormwater Management:
managing stormwater as a major infrastructure system
can contribute to or detract from the character and
livability of neighborhoods due to high levels and
occurs in parts of New Orleans, which in turn disrupts
transportation, economic activities, and the lives of its
residents. These systems connect, overlap, and ultimately
become outcomes of one another.
DBA has experience in resolving issues of flooding
after years of practice and extensive research on green
infrastructure throughout southeast Louisiana. Conventional wisdom directs us to collect, convey, and dispose
is flawed as it creates downstream flooding problems,
discarded. The most cost-effective solution to prevent
flooding during rainstorm events is to detain each drop
of water where it falls, minimizing runoff, conveying
runoff less than traditionally dictated, and using as
infrastructure should enhance ecological functioning
to serve as a civic asset rather than an environmental
liability.
communities based solely on drainage, DBA believes
in implementing an integrated approach that respects
and responds to the connecting systems of roadways,
landscapes, economics, and culture while enhancing New
Orleans authentic character and improving its resiliency in all systems, physical and social. This multi-system
community and encourage progressive development.
DANA BR WN
Asso iates
Dana Nunez Brown
ASLA, PLA, AICP, LEED AP
During her 35 years of experience as
a landscape architect and planner,
New
Orleans,
Orange County, California primarily
as a private consultant for two of the largest design
New Orleans, Dana
Chris Africh, ASLA

As a native of South Louisiana, Chris
has worked on a variety of projects
involving flood arecovery and
disaster planning, strategic redevelopment planning, and post disaster
relief community site design. Chris
was able to use this experience to create his own strategic
riverfront redevelopment plan for the entire flood zone
returning to Louisiana. She has gained extensive

disciplinary projects and is known for her client service,
adherence to budget and schedule, and for the
Currently Dana has been engaged on projects focused
-
the Lower Ninth Ward.

designs. A talented artist, Chris believes in the importance
of readable, well crafted work to better illustrate and
help the public understand the design and the design
intention.
tion
grants, the New Orleans
scale public presentations, and his use of working digital
models during the design process allows for real world
Gaylan Williams
ASLA, LEED AP
Gaylan is a Senior Associate at
New
Orleans and a LEED Accredited
well-known for leading the development of digital

animations to illustrate and explain projects.
in a wide range of aspects and

has worked on numerous projects involving green development, as well as sustainable redevelopment and
conservation.
Gaylan was able to use this experience to help develop
several innovative methods for managing stormwater
locally. Gaylan believes that green standards are
fundamental; therefore, he continuously implements
them in all of his projects. Gaylan is currently managing
the development of the master plan and construction
project in downtown New Orleans.
37
Raoul V. Chauvin III, P.E.

Principal Partner
Civil, and Structural disciplines. Traditional land based
particularly, ship and barge terminal design.
New Orleans
includes registered electrical, mechanical, and civil

licensed professional engineers in the State of Louisiana.
Engineering
Consultants,
mechanical
system
LLC
designs.
are client interface, site inspection and evaluation, contract negotiation, project management, design, and
meetings and coordinates project relevant activities between the Company and the client.
Chauvins professional 22+ year career has revolved
tions for municipalities, offshore oil and gas facilities,
were completed according to a schedule dictated by the
budgets and completed projects under budget.
Elvin Ernesto Calderon

Electrical Engineer
Elvin Calderon is responsible for
preparing, reviewing, and approving
construction drawings for sealing by
New Orleans East Hospital | New Orleans, Louisana
of technology and engineering so that designs meet
technical support for drafters, Document Control and
Document Coordination.
New Orleans Theater of The Performing Arts |

New Orleans, Louisiana
38
development team
Vinay Ramesh Boggaram, E.I.

Mechanical Engineer
management, federal construction

administration, permitting, drawing
systems.
Gregory Lintinger, P.E.
Electrical Engineering Manager
Gregory Lintinger has over 30 years
of experience in management,
Gregory Pier
Project Engineer
provides conceptual designs, engineering and construction estimates
perience performing research and
design to create the most practical and economical
addition, he contributes to the project design team
and develops and reviews bid and contract drawings
and bid packages.
Michael Leitzinger, P.E.
Project Engineer
electrical designs, control systems,

and instrumentation projects for a
wide range of utility, industrial, institutional, governmen-
management, federal construction

administration, permitting, drawing,
has been responsible for scope development, schedule

coordination, budgeting, estimating and cost control.
James Reuter, P.E.- Mechanical Engineer
David Guttuso, P.E.

Electrical Engineer
David Guttuso has over 27 years of
experience in the upstream oil and
gas, and petrochemical industries.
Electrical systems Lead Engineer, and Commissioning/

Start-up Engineer.
systems.
Christopher R. Boyer, E.I.

Mechanical Engineer
Solid Works, CAD Software, and
edgeable in thermodynamics, heat
transfer, and fluid dynamic and
codes and standards.
David graduated from the University of New Orleans. He

received a Bachelors Degree in Electrical Engineering.
He is a member of the LA and CA Institute of Electronical
and Electronics Engineers.
New
Orleans
Engineering.of part-time experience in a variety of design
programs, focusing on producing design drawings and
of research about the site and building, code compliance

analysis and utilization, space planning, construction
39
C.2 Statement of Availability and Commitment

Oxford Capital Group- Oxford is fully committed to this
project and ensuring to the extent of its power that the
development stays within accordance to the proposed
timeline. Oxford has been the owner, developer, and
manager of multiple projects of comparable scope and
is excited at the prospect of leading another successful
development to completion.
Rider Levett Bucknall- There is no activity in our current
workload that would prevent us from successfully
executing this role.
The McDonnel Groupstaff and resources available to comply with the project
timeline.
Julien Engineering & Consulting- There is no activity

from completing the structural/civil work for this project
to be able to manage multiple tasks simultaneously and
incorporating start/stop cycles in its daily planning.
Dana Brown & Associates The key members of DBA
are fully dedicated to the successful completion of the
time, energy, and resources to meet project demands
achieve cohesive and desired outcomes. Through our
diverse backgrounds and range of expertise, we offer the
Montgomery Roth- We will be staffed, available, and

committed to meet the timeline for this project.
service.
The Gettys Group The Gettys Group is fully committed

to this project and its timely completion. We have
available appropriate staff to accommodate our role in
the development with respect to technical capabilities
and commitment to the proposed project timeline.
workload is well-suited to provide engineering support

will allow necessary personnel the uninterrupted ability to
and project experience with numerous municipal entities
Skyline image from above New Orleans, Louisiana
40
development team
Oxford Oxford
Capital Group, LLC
C.3 Litigation History

Oxford Capital Group has no past or pending litigation.
has no past or pending litigation.
Dana Brown & Associates has no litigation history; no
pending lawsuits or criminal investigations of any kind.
The McDonnel Group does not have any material
the personnel proposed to this project.
The Gettys Group,
no bankruptcies, criminal investigations or convictions
of any kind. In fact, the Gettys Group has had very little
litigation of any kind in its more than 25 year history,
with nothing currently pending and only a few claims of
injuries in completed projects, all of which ere covered
by Gettys insurance and resolved quickly.
Montgomery Roth has two pending claims from 2013:
Architect/Engineer HVAC system issues alleged
Montgomery Roths past litigation history is as follows:

Architect/Engineer, pipe break and alleged damage,
settled, 2003
Architect/Engineer, electrical issues relating to
tenant, settled, 2006
Plaintiff for unpaid fees, settled, 2007
Plaintiff for unpaid fees, settled, 2011
settled, 2012
Oxford Oxford
Capital Group, LLC
Julien engineering has the following litigation history

resulting from working on two projects with the same
problematic architect.
Baton Rouge Magnet High School, Baton Rouge
by the general contractor for alleged design errors
and related delays. Alleged damages suffered by
contractor are from his own self-inflicted delays
from poor execution of work. The mediation process
is on-going and is expected to result in a settlement.
Attorneys for our professional liability carrier are
handling the claim for which settlement is expected
to be about $100k. Design work for this $48M
project occurred in 2009-2010 and construction was
completed in 2012.
Crocker Elementary School, New Orleans LA:
the general contractor for alleged delays from
alleged design errors. Alleged damages suffered
by contractor are truly from inferior work by his
subcontractors and self-inflicted delays.
Poor
coordination by architect during the design process
exacerbated inflated cost for additional structural
steel. There has been no activity on this litigation
in over a year but is expected to be handled through
mediation for an eventual settlement. Design work
for this $22M project occurred in 2009-2010 and
construction was completed in 2012.
There are no other pending or potential situations on

any other projects that would result in litigation. No
owner of Julien Engineering & Consulting, Inc. has ever
had any felony convictions or bankruptcy and there
are no pending criminal investigations. Neither Julien
Engineering & Consulting, Inc. nor any of its owners
41
Guest Suite, Bathroom, Lobby, and Exterior view of

42
development team
Oxford Oxford
Capital Group, LLC
Rider Levett Bucknall has one past claim and one

pending claim.
2006 2009 Past Litigation/Claim Matter :
During calendar years 2006 through 2009, Rider Levett
Bucknall Ltd (Rider Levett Bucknall) was engaged in
an arbitration relating to work performed for architect
Leo A Daly Company (LAD) for a project known as the
Phoenix Convention Center (PCC). LAD was engaged
by the City of Phoenix (COP) for design and contract
administration services for the PCC project.
on the PCC project against the COP for delays, delay
costs, and additional compensation, the COP initiated a
lawsuit against LAD. The COP alleged that the general
contractor claims were the result of certain breaches of
contract and professional negligence of LAD, including
breaches of the design contract, breaches of contract
administration services for the project, and professional
negligence.
sub-consultants for indemnity including Rider Levett
Bucknall. Rider Levett Bucknall services to LAD included
cost estimating of the design during the design phase
of the PCC project. The third party indemnity claims
asserted that should the COP prevail in its lawsuit
against LAD, and should the nature of the damages
result from the services performed by one of LADs
sub-consultants, the sub-consultant would indemnify
LAD for the damages attributable to the particular subconsultants services.
As the contract between Rider Levett Bucknall and LAD
contained an arbitration provision for disputes, the third
(and several other LAD sub-consultants) was remanded
to the American Arbitration Association (AAA). Again,
the nature of LADs claims against Rider Levett Bucknall
were an assertion of an indemnity of any liability that
LAD owed to the COP that resulted from the cost
estimating services Rider Levett Bucknall performed.
The arbitration was proceeding before the AAA as Case
No. 76-110-Y-00086-07JRJ. The status was stayed
pending the outcome of the lawsuit between COP and
LAD which would determine if there were any prevailing
Oxford Oxford
Capital Group, LLC
claims of COP, and whether any of the prevailing claims

involved the cost estimating services Rider Levett
Bucknall performed.
Rider Levett Bucknall denied that there was any
indemnity owed to LAD for COP claims as the COP
had not made any allegation or attributed any fault
to the cost estimating services Rider Levett Bucknall
performed. In July 2009 settlement was reached
among COP, LAD, and LADs insurance carrier that
resulted in the dismissal of the lawsuit between COP
and LAD. There was no assignment or reservation to
subrogate any claim against Rider Levett Bucknall.
As a result, LAD agreed to stipulate to a dismissal with
prejudice the AAA arbitration matter. There are no
further claims or causes of action pending or being
asserted against Rider Levett Bucknall.
2011 Current Claim Matter:
On or about 25 January 2011, Rider Levett Bucknall Ltd
(Rider Levett Bucknall) received a Notice of Potential
Claim from its architect client Hellmuth, Obatat &
Kassabaum, Inc. Architects (aka and dba, HOK)
regarding work that HOK performed on a project known
Naval Station, Pearl Harbor, Hawaii, HOK Contract
N62742-05-C-0001.
Rider Levett Bucknall was
engaged as a sub-consultant to HOK to provide cost
estimating services for HOKs design work.
As a result of the Department of the Navy making a
Notice of Claim against HOK for certain design errors,
HOK made third party Notices of Claim against its
sub-consultants, including Rider Levett Bucknall.
Rider Levett Bucknall denies that there was any error,
omission, or any other basis of liability against Rider
Levett Bucknall as the Department of the Navy has not
made any allegation or attributed any fault to the cost
estimating services Rider Levett Bucknall performed.
carrier of the Notice of Claim made by HOK. There
demanded. The current status is limited to a Notice of
Potential Claim only. It is Rider Levett Bucknalls intent
to vigorously defend the Notice of Claim.
43
IO Urban Roofscape Bar Seating at The Godfrey Hotel in Chicago, Illinois
44
financial arragnements and funding sources | REDEVELOPMENT OF 2 CANAL STREET
Oxford Oxford
Capital Group, LLC
FINANCIAL ARRAGNEMENTS AND

FUNDING SOURCES
D.1
Oxford has been involved in over $2.5 billion of
transactions over the past 20 years, including individual
projects as large as approximately $350 million and
projects we deploy our principals capital as well as that
of our investor base coupled with conservative leverage
from one of our longtime relationship lenders that have
ranged from commercial banks to insurance companies
The
capital structure for the project. As these exhibits reveal,

2 Canal is in the middle of our reference range from a
list opposite of this page includes our lender,
walk through our relevant experience since 2010.
0
0
000
000
000
796
000
0
913
019
333
667
623
926
000
693
100
259
0
792
924
179
000
224
Estimated Capital Structure

Development Sources of Funding
Debt Financing
Tax Credits
Equity
Total Sources
Total Capital
128,334,612
52,962,942
75,371,670
256,669,224
% of Total
50.00%
20.63%
29.37%
100.00%
Project Cap Table At Stabilization

Debt Financing
Tax Credits
Equity
Total Sources
Total Capital
128,334,612
105,925,883
22,408,729
256,669,224
% of Total
50.00%
41.27%
8.73%
100.00%
Notes:
1) Assumes 50% of tax credits are received during construction and 50% at the end of year 1 of operations
Oxford Oxford
Capital Group, LLC
REDEVELOPMENT OF 2 CANAL STREET | financial arragnements and funding sources
45
Oxford Capital Group References

Sample of Capital Partners, Lenders, Investors, and Intermediaries of Oxford and its Principals:
Angelo, Gordon & Co.
Anglo Irish Bank
Bank One Mortgage Capital Markets (now UBS)
Bank Of America
Barclays Capital
Berkadia
Blackstone Group
Brown University Endowment Fund (through advisor, RFP)
Citigroup
Cole Taylor Bank
Countrywide Financial
Crow Family Trust (through Wyndham Hotel Corporation)
Deutsche Bank
Fresh Air Fund (through advisor RFP)
GMAC
Goldman Sachs
Great Eagle Holdings
Harvards Endowment Fund
J.P. Morgan Chase
LaSalle Hotel Properties
Lehman Brothers
Lend Lease
Merrill Lynch
Morgan Stanley
Nash Foundation (through advisor RFP)
Northern Trust
Notre Dames Endowment Fund (through advisor RFP)
Oberlin College Endowment Fund (through advisor RFP)
Princetons Endowment Fund (through advisor RFP)
Quadrum Capital
Realty Financial Partners
RLJ Lodging Trust
Rockwood Realty
RBS - Royal Bank of Scotland/Greenwich Capital Markets
Sagan Family Trust
Starwood (now I-Star) Financial Trust
Swarthmore College Endowment Fund (through advisor RFP)
UBS
UJA Federation (through advisor RFP)
Wachovia
Walton Street Capital
Wellesley College Endowment Fund (through
advisor RFP)
Yales Endowment Fund (through advisor RFP)
Yeshiva University (through advisor RFP)
Oxford Oxford
Capital Group, LLC
Intermediaries:
CBRE
Cohen Financial
Colliers
Douglas Elliman
Eastdil
Goldman Sachs
Hodges Ward Elliot
Hospitality Valuation Services
Hunter Realty
Jones Lang LaSalle
Lazard
Mission Capital
Molinaro Koger
Sonnenblick Goldman
Sample of Hotel Companies and/or brands
JWR/Oxford Capital has worked with:
Aramark Corporation
Fowler Hospitality
Hampton Hotels
Hilton Hotel Corporation
Hilton Doubletree Hotels
Hilton Hampton Inn & Suites
Holiday Inn
Hyatt Hotels
InterContinental Hotels Group
Kimpton Hotels
Langham Hotels International
LaSalle Hotel Properties
Marriott International
Marriott Courtyard
Marriott Residence Inn
Marriott Spring Hill Suites
Oxford Hotels & Resorts, LLC*
Radisson Hotels & Resorts
RLJ Lodging Trust
Godfrey Hotel
Felix Hotel
47
The Godfrey Hotel Chicago | Chicago, Ilinois

221
lifestyle hotel including 221 spacious rooms and suites,
dining and event space in the city with sweeping views
: Approximately 140,000
Approximately $75 Million
Oxford principals and Global
Institutional Investment Fund
met with tremendous success. The name Godfrey has

a meaning of peace and welcome to travelers.
hotel was nominated for several awards including being
outdoor lounge and event space and a state-of-the-art

venues offering a restaurant, bar, lounge and event
space open to the public with unparalleled panoramic
views of the Chicago skyline. The venue serves
breakfast, lunch, brunch, and dinner with multiple fullinteractive water feature, and a superior sound and
music performances, and private events. I|O Urban
Roofscape has more space and unique amenities
than any other similar venue in Chicago.
48
Oxford Oxford
Capital Group, LLC
Elliptical Lobby Seating, Guest Suite, and Spa at

Oxford Oxford
Capital Group, LLC
49
The Godfrey Hotel Boston | Boston,

Massachusetts
Oxford is currently overseeing the comprehensive
redevelopment of the historic Amory and Blake
238 room independent lifestyle hotel that will include

high design guest rooms, an expansive lobby bar and
lounge, multiple food and beverage venues, attractive
buildings in 2012 and successfully and sensitively

navigated the terminations and relocations of multiple
tenants to allow for a hotel redevelopment.
process, which included public commentary, and

of Directors approval to execute the Godfrey Boston
redevelopment. The redevelopment is generating both
federal and state historic tax credits.
238
Approximately 140,000
Oxford Principals, Global Institutional
Investment Fund, Prominent Commercial Bank
50
Oxford Oxford
Capital Group, LLC
360 North Michigan Avenue/London Guarantee

Building | Chicago, Illinois
London Guarantee and Accident Building at 360 North
and prominent landmarks, the property is located at the
intersection of two of the heaviest pedestrian travelled
and between the two most visited tourist destinations
currently underway with an extensive redevelopment
plan with a total project budget of approximately $200
food and beverage outlets, including a tri-level rooftop

lounge that will feature fantastic views of the Chicago
The hotel is expected to open in early 2016 upon
completion of the redevelopment of the existing building
and completion of an adjacent ground up tower.
Rotunda Ceiling at the 360 North Michigan/London

Guarantee Building in Chicago, Illinois
450
Oxford Principals, Global
Institutional Investment Fund, Prominent
Commercial Bank
Oxford Oxford
Capital Group, LLC
51
The Langham Chicago Hotel | Chicago, Illinois

The Langham Chicago is a 5 star super luxury LEED
The hotel features 316 luxury guest rooms ranging in
Ballroom, the 16,000 sf Chuan Spa, a state of the art

and beverage outlets. The upper floors of the building
with a total project budget of approximately $200

and state historic tax credits by successfully seeking the
on the national register of historic places. The building
& Tower on Chicagos riverfront.
numerous awards and accolades including being
ranked the number one hotel in Chicago on Trip Advisor
Worldwide by Travel and Leisure.
52
Oxford Oxford
Capital Group, LLC
Keys: 316
Square Feet: Approximately 400,000
Cost: Approximately $ 200 Million
Funding Sources: Chinese Investment Company
Oxford Oxford
Capital Group, LLC
53
Hotel Felix | Chicago, Illinois

comfortable elegance with inspiring natural elements.
redevelopment into an independent lifestyle hotel that

hotel in Chicago. The development was nominated for
225
Oxford Principals, Domestic Real
Estate Opportunity Fund, Prominent Commercial
Bank
54
Oxford Oxford
Capital Group, LLC
Chicago, Illinois
center, and superb downtown location two blocks from
a longtime family owner in 2006. Oxford completed

a
comprehensive
redevelopment,
operational
repositioning and cobranding in 2007 that included
hotel.
174
Oxford Principals, Domestic Real
Estate Opportunity Fund, Prominent Debt Financing
Company
Oxford Oxford
Capital Group, LLC
55
bar, and a lobby level Starbucks.

Oxford Capital negotiated a 99 year leasehold and
417
Lower 16 floors of approximately
600,000 building
Approximately $53Million
Oxford Principals, REIT, and a
Prominent Commercial Bank
56
Oxford Oxford
Capital Group, LLC
Doubletree Metropolitan Hotel | New York City,

New York
764
Institutional Investment Fund, Global Money Center
Banks
beverage venues.
redevelopment,
operational
repositioning
and
York City.
Oxford Capital leased out all food and beverage
outlets and successfully harvested and recapitalized
at in-creasing valuations, culminating in a sale/
Oxford Oxford
Capital Group, LLC
57
The Lexington Hotel New York City | New York,

New York
floor bar and lounge that provides a vibrant social scene,

meeting space.
hotel. The team executed a comprehensive redevelopment, operational repositioning and rebranding.
725
Institutional Investment Fund, Global Money Center
Banks
58
Oxford Oxford
Capital Group, LLC
National Conference Center |

Lansdowne, Virginia
outside of Washington D.C., is one of the largest and
most comprehensive conference centers in the country.
National Conference Center features over 250,000 sf of
meeting space across 250 different rooms, 917 guest
rooms, an 800 seat dining room, Black Olive Sports Bar
property often features large corporate events, elegant
weddings, and large meetings and conventions.
Oxford executed a comprehensive redevelopment

upgrading public areas, privatizing formerly shared
bathrooms and subdividing, re-entitling and ultimately
917
Approximately1.4 Million
Oxford Principals, Global Institutional
Investment Fund, Global Money Center Banks
Oxford Oxford
Capital Group, LLC
59
Oxford Principal Projects

Essex Inn- Chicago, Illinois
360 North Michigan Avenue Hotel- Chicago, Illinois
The Godfrey Hotel Boston- Boston, Massachusetts
The Godfrey Hotel Chicago- Chicago, Illinois
Langham Chicago Hotel (at the former IBM Building)Chicago, Illinois
Hotel Felix Chicago- Chicago, Illinois
Doubletree Metropolitan Hotel- New York City
National Conference Center- Lansdowne, Virginia
Lexington Hotel New York City- New York City
Illinois
Doubletree Hotel & Conference Center Chicago North
Shore- Chicago, Illinois (Skokie)
Renaissance Chicago North Shore Hotel- Chicago,
Illinois (Northbrook)
The Abbey Resort & Spa- Lake Geneva (Fontana), WI
Hampton Inn & Suites Downtown- Milwaukee, Wisconsin
Hyatt House Chicago Northwest- Chicago (Schaumburg) Illinois
Doubletree Hotel Downtown (Former Wyndham)Wilmington, Delaware
Marriott Residence Inn- Charleston, South Carolina
Marriott Spring Hill Suites- Charleston, South Carolina
Marriott Residence Inn Columbia Northeast- Columbia, South Carolina
Marriott Courtyard Columbia Northeast- Columbia,
South Carolina
Marriott Courtyard Charlotte-Matthews- Matthews,
North Carolina
Marriott Courtyard Rock Hill- Rock Hill, South Carolina
Marriott Residence Inn Chantilly Dulles South- Chantilly, Virginia
Wyndham Garden Hotel -Gwinnett- Atlanta, Georgia
Wyndham Garden Hotel Northlake- Atlanta, Georgia
60
Aspen Club & Spa- Aspen, Colorado

Alivila Nikko Resort- Okinawa, Japan
Hotel Centraza- Fukuoka, Japan
Hyatt Regency Jacksonville Riverfront- Jacksonville,
Florida
California
Lakeshore Sport & Fitness Lincoln Park- Chicago,
Illinois
Lakeshore Sport & Fitness Downtown- Chicago,
Illinois
Namba Oriental Hotel- Osaka, Japan
Oriental Meriken Park- Kobe, Japan
Shin-Urayasu Oriental- Tokyo Disneyland, Japan
Sir Francis Drake Hotel- San Francisco, California
skilled nursing facilities in Virginia

Jamestowne Assisted Living - Kingston, Tennessee
Madison Nursing Center - Madison, FL
Nursing Center at Mercy Hospital on the campus of
Mercy Hospital in Miami
Providence Health Care Inc. - a chain of senior housing properties in Ohio, Virginia, and Vermont
Southtowne Living Center - Eugene, Oregon
Sun River Living Centers, LLC - a portfolio of 7 senior
housing properties in central Oregon
Wakulla Health Care Center - Wakulla, FL
Plymouth Real Estate Investors
Top Golf
One N. Franklin St. Chicago, IL
Ten S. LaSalle St. Chicago, IL
Oprah Winfreys Harpo Studios Chicago, IL
Oxford Oxford
Capital Group, LLC
Development of the Year Nominee (Americas Lodging Investment Summit) Godfrey Hotel
Chicago
HSMAI Adrian Awards Social Media Campaign Silver Level Winner Godfrey Hotel Chicago
HSMAI Adrian Awards PR Campaign Bronze Level Winner Godfrey Hotel Chicago
2015 Trip Advisor Travelers Choice Awards Top Hotel In U.S. Award Langham Chicago Hotel
#1 Large City Hotel: Continental US (Travel & Leisure) - Langham Chicago Hotel
Development of the Year Finalist (Americas Lodging Investment Summit) Langham Chicago
Hotel
Developer of the Year Finalist (Chicago Commercial Real Estate Awards) Oxford Capital Group, LLC
Development of the Year Finalist (Chicago Commercial Real Estate Awards) Godfrey Hotel
Chicago
Redevelopment of the Year Finalist (Chicago Commercial Real Estate Awards) - Langham Chicago
Hotel
Special Achievement Award Nominee (Chicago Commercial Real Estate Awards) Oxford Capital
Group, LLCs lodging strategy
Transaction of the Year Nominee (Chicago Commercial Real Estate Awards) - 360 North Michigan
Avenue
Platinum and First Place at Green Business Challenge National Conference Center
Downtown Redevelopment of the Year Finalist (Chicago Commercial Real Estate Awards) - Hotel
Felix Chicago
Chicago Innovation Awards Nominee Hotel Felix Chicago
Ernst & Young Entrepreneur of the Year Awards Finalist Oxfords Founder & CEO
Nations Top Businesses (DiversityBusiness.com) National Conference Center
Global Doubletree Conversion of the Year (Hilton Corporation) The Doubletree Hotel Chicago
Global Doubletree Conversion of the Year (Hilton Corporation) The Doubletree Hotel and
Conference Center, Skokie, IL
Stuart Cornew Leadership Award (Young Presidents Organization)
Best Renovation in U.S. Midscale (Lodging Hospitality Magazine) The Doubletree Metropolitan
Hotel, NYC
100 Largest Mergers and Acquisitions (Crains) The Doubletree Metropolitan Hotel, NYC
Best Renovation in the U.S. (Lodging Hospitality Magazine) The Radisson Lexington Hotel, NYC
Americas Fastest Growing Private Companies (Inc. 500) Potbelly Sandwich Works
Downtown Redevelopment of the Year Finalist (Chicago Commercial Real Estate Awards) The
Redevelopment of the Year Nominee (Chicago Commercial Real Estate Awards) Renaissance
Chicago Northshore Hotel, Northbrook, IL
Chicago Business 40 under 40 (Crains) Oxfords Founder & CEO
Chicago Real Estate Intermediary of the Year Finalist (Chicago Commercial Real Estate Awards)
Oxfords Founder & CEO (Twice)
North Franklin, Chicago, IL
Downtown Redevelopment of the Year (Chicago Commercial Real Estate Awards) Oprah Winfreys
Harpo Studios, Chicago, IL
Leasing Success Story of the Year (Realty & Building Magazine) 10 South LaSalle, Chicago, IL
Oxford Oxford
Capital Group, LLC
61
Rendering of Proposed Site Elevation, New Orleans, Louisiana
62
Oxford Oxford
Capital Group, LLC
Experience with Government Authorities

Oxford has been involved with four historic tax credit transactions over the past 5 years, including those related to
Service.
reduced property tax assessment levels over a 12-year period. Oxford and its consultants attended hearings before
out and gained support of our City Council member, our local Alderman, and other important constituents of the
Other Select Projects
Montgomery Roth Architecture & Interior Design, L.L.C.
State of Louisiana
City of New Orleans
Oxford Oxford
Capital Group, LLC
63
The McDonnel Group, LLC

The City of New Orleans
NASA

Dana Brown & Associates has an existing working relationship with a number of departments in the City of New
Orleans.
reforestation of the urban neutral grounds all over the City. They developed plans, spreadsheets, and data that
and design standards that can be applied elsewhere.

they have designed stormwater lots, curb extensions, bioswales, pervious concrete, and other stormwater features
designed and administered implementation of three stormwater lots that receive water from the street curb and
Julien Engineering & Consulting, Inc.
Sewerage & Water Board of New Orleans
Louisiana Community and Technical College System
64
Oxford Oxford
Capital Group, LLC
municipalities in the surrounding area. We are familiar with projects that have involved weekly and daily coordination
positive working relationships with these entities throughout the design and construction process.
the engineering support to meet all deadlines; budgets and the ability complete the project correctly.
Louisiana Department of Transportation and Development

Algiers Development District
Rider Levett Bucknall, Ltd.

early 1990s.
Oregon Air National Guard

Arizona Air National Guard
Scotia Air National Guard
Tripler Army Lodge
Oxford Oxford
Capital Group, LLC
65
D.3

Bureau of Purchasing
Chief Procurement Officer
1300 Perdido Street, Suite 4w07
To Whom It May Concern:

Oxford Capital Group, LLC is anticipated to be the guarantor and certifies its financial
wherewithal to complete the Project and satisfy the usual and customary completion guarantor
requirements for the construction contemplated by the respondent.
Sincerely,
John W. Rutledge
President & CEO
66
Oxford Oxford
Capital Group, LLC
D.4
Godfrey Hotel New Orleans & Luxury Residences Estimated Development Budget
2 Canal Street - 516 Key Hotel + 166 Luxury Apartments
Purchase Price
0
Transfer Tax
0
Acquisition Fee
1,000,000
Due Diligence, Travel, Other
250,000
Legal
4,000,000
Development/Sponsorship Fee
8,878,796
Preopening/Working Capital
5,000,000
Interest Reserve During Planning
0
Interest Reserve During Redevelopment
8,020,913
Financing Fee (1.5%)
1,925,019
Ground Lease During Planning
308,333
Ground Lease During Redevelopment
1,541,667
Real Estate Taxes / Insurance During Planning
375,623
Real Estate Taxes / Insurance During Redevelopment
1,965,926
Tax Credit Legal and Structuring
225,000
Leasing Commissions
77,693
TI Allowance
71,100
Tax Credit Success Fee
1,059,259
EB5 Costs
0
Owner Contingency
17,812,792
Hard Costs
169,613,924
Soft Costs
17,515,179
FF&E / OS&E
17,028,000
Total Use of Funds
256,669,224
Oxford Oxford
Capital Group, LLC
67
Godfrey New Orleans - 2 Canal Street

10 Year Hotel Estimated Operating Proforma
Year One
2017-2018
Percentage of Occupancy
Year Two
2018-2019
66.4%
Year Three
2019-2020
70.6%
Year Four
2020-2021
75.1%
Year Five
2021-2022
75.1%
75.1%
75.1%
Average Daily Rate
$195.24
$211.91
$229.40
$236.29
$243.37
$250.68
RevPAR
$129.56
$149.64
$172.23
$177.40
$182.72
$188.20
Number of Rooms
516
516
516
516
516
516
# of Rooms Sold
124,976
133,361
141,400
141,400
141,787
141,787
# of Rooms Available
188,340
188,856
188,340
188,340
188,856
188,856
% of
% of
% of
% of
% of
Amount
Revenue
PAR
POR
Amount
Revenue
PAR
POR
Amount
Revenue
PAR
POR
Amount
Revenue
PAR
POR
Amount
Revenue
PAR
POR
Amount
REVENUES
Rooms
24,400,529
56.5%
$47,288
$195.24
28,260,499
59.3%
$54,768
$211.91
32,437,695
61.9%
$62,864
$229.40
33,410,826
61.9%
$64,750
$236.29
34,507,433
61.9%
$66,875
$243.37
35,542,656
F&B
11,402,606
26.4%
$22,098
$91.24
11,744,684
24.7%
$22,761
$88.07
12,097,025
23.1%
$23,444
$85.55
12,459,936
23.1%
$24,147
$88.12
12,833,734
23.0%
$24,872
$90.51
13,615,308
129,488
0.3%
$251
$1.04
133,373
0.3%
$258
$1.00
137,374
0.3%
$266
$0.97
141,495
0.3%
$274
$1.00
145,740
0.3%
$282
$1.03
154,616
4,821,112
11.2%
$9,343
$38.58
4,965,745
10.4%
$9,624
$37.24
5,114,717
9.8%
$9,912
$36.17
5,268,159
9.8%
$10,210
$37.26
5,426,203
9.7%
$10,516
$38.27
5,588,990
13,656
0.0%
$26
$0.11
15,010
0.0%
$29
$0.11
16,392
0.0%
$32
$0.12
16,884
0.0%
$33
$0.12
17,438
0.0%
$34
$0.12
1st Floor Retail Lease

Meeting Space
Telephone
Other Income
17,961
2,403,060
5.6%
$4,657
$0.11
2,518,560
5.3%
$4,881
$0.11
2,636,988
5.0%
$5,110
$0.11
2,716,098
5.0%
$5,264
$0.11
2,799,773
5.0%
$5,426
$0.11
2,883,766
43,170,451
100.0%
$83,664
$345.43
47,637,871
100.0%
$92,321
$357.21
52,440,192
100.0%
$101,628
$370.86
54,013,398
100.0%
$104,677
$381.99
55,730,321
100.0%
$108,004
$393.06
57,803,297
Rooms
F&B Expense
6,585,304
8,293,252
27.0%
72.7%
$12,762
$16,072
$52.69
$66.36
7,405,097
7,954,815
26.2%
67.7%
$14,351
$15,416
$55.53
$59.65
8,073,853
8,193,459
24.9%
67.7%
$15,647
$15,879
$57.10
$57.95
8,329,152
8,439,263
24.9%
67.7%
$16,142
$16,355
$58.90
$59.68
8,600,981
8,692,441
24.9%
67.7%
$16,669
$16,846
$60.66
$61.31
8,792,628
9,221,811
Meeting Space Expenses
2,997,821
62.2%
$5,810
$23.99
2,831,753
57.0%
$5,488
$21.23
2,916,705
57.0%
$5,653
$20.63
3,004,206
57.0%
$5,822
$21.25
3,094,332
57.0%
$5,997
$21.82
3,187,162
Total Revenues
DEPARTMENTAL EXPENSES
0.30
Telephone Expenses
40,969
300.0%
$79
$0.33
45,030
300.0%
$87
$0.34
49,176
300.0%
$95
$0.35
50,652
300.0%
$98
$0.36
52,314
300.0%
$101
$0.37
2,151,781
89.5%
$4,170
$0.00
2,242,379
89.0%
$4,346
$0.00
2,335,373
88.6%
$4,526
$0.00
2,405,435
88.6%
$4,662
$0.00
2,478,913
88.5%
$4,804
$0.00
2,553,280
20,069,127
46.5%
$38,894
$160.58
20,479,073
43.0%
$39,688
$153.56
21,568,568
41.1%
$41,800
$152.54
22,228,707
41.2%
$43,079
$157.20
22,918,981
41.1%
$44,417
$161.64
23,808,764
23,101,325
53.5%
$44,770
$184.85
27,158,798
57.0%
$52,633
$203.65
30,871,624
58.9%
$59,829
$218.33
31,784,690
58.8%
$61,598
$224.79
32,811,340
58.9%
$63,588
$231.41
33,994,532
Administrative & General
2,383,682
5.5%
$4,620
$19.07
2,543,085
5.3%
$4,928
$19.07
2,712,827
5.2%
$5,257
$19.19
2,794,934
5.2%
$5,417
$19.77
2,882,193
5.2%
$5,586
$20.33
2,962,554
Management Fees
1,726,818
4.0%
$3,347
$13.82
1,905,515
4.0%
$3,693
$14.29
2,097,608
4.0%
$4,065
$14.83
2,160,536
4.0%
$4,187
$15.28
2,229,213
4.0%
$4,320
$15.72
2,312,132
Sales & Marketing
1,684,858
3.9%
$3,265
$13.48
1,426,840
3.0%
$2,765
$10.70
1,470,103
2.8%
$2,849
$10.40
1,514,687
2.8%
$2,935
$10.71
1,560,632
2.8%
$3,024
$11.01
1,576,990
Franchise Fees
1,987,818
8.1%
$3,852
$15.91
2,291,433
8.1%
$4,441
$17.18
2,619,868
8.1%
$5,077
$18.53
2,698,464
8.1%
$5,230
$19.08
2,786,772
8.1%
$5,401
$19.65
2,870,375
Operations & Maintenance
816,531
1.9%
$1,582
$6.53
885,822
1.9%
$1,717
$6.64
958,552
1.8%
$1,858
$6.78
987,609
1.8%
$1,914
$6.98
1,017,552
1.8%
$1,972
$7.18
Utilities
860,358
2.0%
$1,667
$6.88
945,620
2.0%
$1,833
$7.09
1,032,704
2.0%
$2,001
$7.30
1,063,685
2.0%
$2,061
$7.52
1,098,597
2.0%
$2,129
$7.75
1,098,597
9,460,065
21.9%
$18,333
$75.69
9,998,315
21.0%
$19,377
$74.97
10,891,661
20.8%
$21,108
$77.03
11,219,914
20.8%
$21,744
$79.35
11,574,960
20.8%
$22,432
$81.64
11,854,448
13,641,259
31.6%
$26,437
$109.15
17,160,483
36.0%
$33,257
$128.68
19,979,963
38.1%
$38,721
$141.30
20,564,776
38.1%
$39,854
$145.44
21,236,380
38.1%
$41,156
$149.78
22,140,085
0.0%
$0
$0.00
952,757
2.0%
$1,846
$7.14
1,573,206
3.0%
$3,049
$11.13
1,620,402
3.0%
$3,140
$11.46
1,671,910
3.0%
$3,240
$11.79
1,734,099
2.3%
$1,037
$4.28
545,686
2.3%
$1,058
$4.09
556,600
2.3%
$1,079
$3.94
567,732
2.3%
$1,100
$4.02
579,086
2.3%
$1,122
$4.08
590,668
2.3%
$1,924
$7.94
1,022,362
2.1%
$1,981
$7.67
1,053,033
2.0%
$2,041
$7.45
1,084,624
2.0%
$2,102
$7.67
1,117,163
2.0%
$2,165
$7.88
1,150,678
Other Expenses
Total Departmental Expenses
DEPARTMENTAL PROFIT
53,884
UNDISTRIBUTED OPRTG EXP.

4.00%
6.3
Total Undistributed Oprtg Exp.
GROSS OPERATING PROFIT
1,033,800
FIXED EXPENSES
FF&E Reserve
RE Taxes
Property Insurance
CAM Reimbursements
Total Fixed Expenses
HOTEL NET OPERATING INCOME
534,986
992,585
(5,403)
0.0%
($10)
($0.04)
(5,547)
0.0%
($11)
($0.04)
(5,694)
0.0%
($11)
($0.04)
(5,845)
0.0%
($11)
($0.04)
(6,000)
0.0%
($12)
($0.04)
(6,160)
1,522,168
3.5%
$2,950
$12.18
2,515,259
5.3%
$4,875
$18.86
3,177,145
6.1%
$6,157
$22.47
3,266,913
6.0%
$6,331
$23.10
3,362,159
6.0%
$6,516
$23.71
3,469,285
12,119,091
28.1%
$23,487
$96.97
14,645,224
30.7%
$28,382
$109.82
16,802,818
32.0%
$32,564
$118.83
17,297,863
32.0%
$33,523
$122.33
17,874,221
32.1%
$34,640
$126.06
18,670,799
Notes:
1) Proforma assumes market franchise fees for a typical upscale chain/affiliation
Year Five
2021-2022
Year Six
2023
75.1%
Year Seven
2024
75.1%
Year Eight
2025
75.1%
Year Nine
2026
75.1%
Year Ten
2027
75.1%
5 Year
CAGR
3.1%
5.7%
9.0%
0.0%
3.2%
0.1%
75.1%
$243.37
$250.68
$258.20
$265.94
$273.92
$282.14
$182.72
$188.20
$193.85
$199.66
$205.65
$211.82
516
516
516
516
516
516
141,787
141,787
141,787
141,787
141,787
141,787
188,856
188,856
188,856
188,856
188,856
188,856
% of
% of
% of
% of
% of
% of
Amount
Revenue
PAR
POR
Amount
Revenue
PAR
POR
Amount
Revenue
PAR
POR
Amount
Revenue
PAR
POR
Amount
Revenue
PAR
POR
Amount
Revenue
PAR
POR
34,507,433
61.9%
$66,875
$243.37
35,542,656
61.5%
$68,881
$250.68
36,608,936
61.1%
$70,948
$258.20
37,707,204
60.6%
$73,076
$265.94
38,838,420
60.2%
$75,268
$273.92
40,003,573
59.3%
$77,526
$282.14
12,833,734
23.0%
$24,872
$90.51
13,615,308
23.6%
$26,386
$96.03
14,444,480
24.1%
$27,993
$101.87
15,324,149
24.6%
$29,698
$108.08
16,257,390
25.2%
$31,507
$114.66
17,764,889
26.3%
$34,428
$125.29
145,740
0.3%
$282
$1.03
154,616
0.3%
$300
$1.09
164,032
0.3%
$318
$1.16
174,021
0.3%
$337
$1.23
184,619
0.3%
$358
$1.30
201,738
0.3%
$391
$1.42
5,426,203
9.7%
$10,516
$38.27
5,588,990
9.7%
$10,831
$39.42
5,756,659
9.6%
$11,156
$40.60
5,929,359
9.5%
$11,491
$41.82
6,107,240
9.5%
$11,836
$43.07
6,290,457
9.3%
$12,191
$44.37
17,438
0.0%
$34
$0.12
17,961
0.0%
$35
$0.12
18,500
0.0%
$36
$0.12
19,055
0.0%
$37
$0.12
19,627
0.0%
$38
$0.12
20,215
0.0%
$39
$0.37
9.1%
3.0%
3.0%
6.3%
2,799,773
5.0%
$5,426
$0.11
2,883,766
5.0%
$5,589
$0.11
2,970,279
5.0%
$5,756
$0.11
3,059,387
4.9%
$5,929
$0.11
3,151,169
4.9%
$6,107
$0.11
3,218,619
4.8%
$6,238
$0.11
55,730,321
100.0%
$108,004
$393.06
57,803,297
100.0%
$112,022
$407.68
59,962,886
100.0%
$116,207
$422.91
62,213,176
100.0%
$120,568
$438.78
64,558,465
100.0%
$125,113
$455.32
67,499,492
100.0%
$130,813
$476.06
6.6%
8,600,981
8,692,441
24.9%
67.7%
$16,669
$16,846
$60.66
$61.31
8,792,628
9,221,811
24.7%
67.7%
$17,040
$17,872
$62.01
$65.04
8,990,024
9,783,419
24.6%
67.7%
$17,423
$18,960
$63.41
$69.00
9,193,342
10,379,229
24.4%
67.7%
$17,817
$20,115
$64.84
$73.20
9,402,759
11,011,324
24.2%
67.7%
$18,222
$21,340
$66.32
$77.66
9,618,459
12,032,371
24.0%
67.7%
$18,640
$23,319
$67.84
$84.86
6.9%
3,094,332
57.0%
$5,997
$21.82
3,187,162
57.0%
$6,177
$22.48
3,282,777
57.0%
$6,362
$23.15
3,381,261
57.0%
$6,553
$23.85
3,482,698
57.0%
$6,749
$24.56
3,587,179
57.0%
$6,952
$25.30
52,314
300.0%
$101
$0.37
53,884
300.0%
$104
$0.38
55,500
300.0%
$108
$0.39
57,165
300.0%
$111
$0.40
58,880
300.0%
$114
$0.42
60,646
300.0%
$118
$0.43
0.8%
6.3%
2,478,913
88.5%
$4,804
$0.00
2,553,280
88.5%
$4,948
$0.00
2,629,878
88.5%
$5,097
$0.00
2,708,775
88.5%
$5,250
$0.00
2,790,038
88.5%
$5,407
$0.00
2,857,488
88.8%
$5,538
$0.00
22,918,981
41.1%
$44,417
$161.64
23,808,764
41.2%
$46,141
$167.92
24,741,599
41.3%
$131.01
$174.50
25,719,771
41.3%
$136.19
$181.40
26,745,700
41.4%
$141.62
$188.63
28,156,144
41.7%
$149.09
$198.58
3.4%
32,811,340
58.9%
$63,588
$231.41
33,994,532
58.8%
$65,881
$239.76
35,221,288
58.7%
$68,258
$248.41
36,493,405
58.7%
$70,724
$257.38
37,812,765
58.6%
$73,281
$266.69
39,343,347
58.3%
$76,247
$277.48
9.2%
2,882,193
5.2%
$5,586
2,786,772
8.1%
$5,401
$19.65
2,870,375
8.1%
$5,563
$20.24
2,956,486
8.1%
$5,730
$20.85
3,045,181
8.1%
$5,902
$21.48
3,136,536
8.1%
$6,079
$22.12
3,230,633
8.1%
$6,261
1,017,552
1.8%
$1,972
$7.18
1,033,800
1.8%
$2,003
$7.29
1,050,535
1.8%
$2,036
$7.41
1,067,772
1.7%
$2,069
$7.53
1,085,527
1.7%
$2,104
$7.66
1,103,814
1.6%
$2,139
1,098,597
2.0%
$2,129
$7.75
1,098,597
1.9%
$2,129
$7.75
1,098,597
1.8%
$2,129
$7.75
1,098,597
1.8%
$2,129
$7.75
1,098,597
1.7%
$2,129
$7.75
1,098,597
1.6%
$2,129
$7.75
11,574,960
20.8%
$22,432
$81.64
11,854,448
20.5%
$22,974
$83.61
12,143,969
20.3%
$64.30
$85.65
12,443,925
20.0%
$65.89
$87.76
12,754,735
19.8%
$67.54
$89.96
13,110,333
19.4%
$69.42
$92.46
4.9%
6.6%
-1.9%
8.8%
5.7%
6.3%
5.2%
21,236,380
38.1%
$41,156
$149.78
22,140,085
38.3%
$42,907
$156.15
23,077,319
38.5%
$44,723
$162.76
24,049,480
38.7%
$46,608
$169.62
25,058,030
38.8%
$48,562
$176.73
26,233,015
38.9%
$50,839
$185.02
11.7%
$14.28
$20.33
2,962,554
5.1%
$5,741
$20.89
3,045,997
5.1%
$5,903
$21.48
3,132,656
5.0%
$6,071
$22.09
3,222,670
5.0%
$6,245
$22.73
3,329,833
4.9%
$6,453
$23.48
2,229,213
4.0%
$4,320
$15.72
2,312,132
4.0%
$4,481
$16.31
2,398,515
4.0%
$4,648
$16.92
2,488,527
4.0%
$4,823
$17.55
2,582,339
4.0%
$5,005
$18.21
2,699,980
4.0%
$5,233
$19.04
1,560,632
2.8%
$3,024
$11.01
1,576,990
2.7%
$3,056
$11.12
1,593,838
2.7%
$3,089
$11.24
1,611,192
2.6%
$3,122
$11.36
1,629,066
2.5%
$3,157
$11.49
1,647,476
2.4%
$3,193
$11.62
$22.79
1,671,910
3.0%
$3,240
$11.79
1,734,099
3.0%
$3,361
$12.23
1,798,887
3.0%
$3,486
$12.69
1,866,395
3.0%
$3,617
$13.16
1,936,754
3.0%
$3,753
$13.66
2,024,985
3.0%
$3,924
579,086
2.3%
$1,122
$4.08
590,668
2.3%
$1,145
$4.17
602,482
2.3%
$1,168
$4.25
614,531
2.3%
$1,191
$4.33
626,822
2.3%
$1,215
$4.42
639,358
2.3%
$1,239
1,117,163
2.0%
$2,165
$7.88
1,150,678
2.0%
$2,230
$8.12
1,185,198
2.0%
$2,297
$8.36
1,220,754
2.0%
$2,366
$8.61
1,257,377
1.9%
$2,437
$8.87
1,295,098
1.9%
$2,510
(6,000)
0.0%
($12)
($0.04)
(6,160)
0.0%
($12)
($0.04)
(6,324)
0.0%
($12)
($0.04)
(6,492)
0.0%
($13)
($0.05)
(6,665)
0.0%
($13)
($0.05)
(6,843)
0.0%
($13)
$7.78
$4.51
$9.13
($0.05)
2.0%
3.0%
2.7%
3,362,159
6.0%
$6,516
$23.71
3,469,285
6.0%
$6,723
$24.47
3,580,243
6.0%
$6,938
$25.25
3,695,189
5.9%
$7,161
$26.06
3,814,288
5.9%
$7,392
$26.90
3,952,598
5.9%
$7,660
$27.88
21.9%
17,874,221
32.1%
$34,640
$126.06
18,670,799
32.3%
$36,184
$131.68
19,497,076
32.5%
$37,785
$137.51
20,354,291
32.7%
$39,446
$143.56
21,243,742
32.9%
$41,170
$149.83
22,280,416
33.0%
$43,179
$157.14
10.2%
Godfrey New Orleans Luxury Residences

10 Year Apartment Estimated Operating Proforma
# of Units
166
Avg. Size
1,206
Market Rental Rate - Monthly
Annual Growth
Income
Projected Market Rent
Loss to Lease
Gross Potential Income
Leasing Concessions
Non Revenue Units
Bad Debt Write-offs
Vacancy Loss
Parking Income
Other Income
Effective Gross Income
1.00%
2
1.00%
$2,048
$2.31
N/A
$2.38
3.00%
$2.45
3.00%
$2.52
3.00%
$2.60
3.00%
$2.68
3.00%
$2.76
3.00%
$2.84
3.00%
$2.92
3.00%
$3.01
3.00%
$3.10
3.00%
Year 1
2017-2018
Year 2
2018-2019
Year 3
2019-2020
Year 4
2020-2021
Year 5
2021-2022
Year 6
2022-2023
Year 7
2023-2024
Year 8
2024-2025
Year 9
2025-2026
Year 10
2026-2027
Year 10
2027-2028
$5,544,082
($55,441)
$5,488,641
(54,886)
(66,796)
(54,886)
(411,648)
393,382
340,011
5,633,817
$5,710,404
($57,104)
$5,653,300
(56,533)
(68,800)
(56,533)
(282,665)
405,183
292,666
5,886,619
$5,881,717
($58,817)
$5,822,899
(58,229)
(70,864)
(58,229)
(291,145)
417,339
301,446
6,063,217
$6,058,168
($60,582)
$5,997,586
(59,976)
(72,990)
(59,976)
(299,879)
429,859
310,490
6,245,114
$6,239,913
($62,399)
$6,177,514
(61,775)
(75,180)
(61,775)
(308,876)
442,755
319,804
6,432,467
$6,427,111
($64,271)
$6,362,839
(63,628)
(77,435)
(63,628)
(318,142)
456,037
329,399
6,625,441
$6,619,924
($66,199)
$6,553,725
(65,537)
(79,758)
(65,537)
(327,686)
469,718
339,281
6,824,205
$6,818,522
($68,185)
$6,750,336
(67,503)
(82,151)
(67,503)
(337,517)
483,810
349,459
7,028,931
$7,023,077
($70,231)
$6,952,846
(69,528)
(84,615)
(69,528)
(347,642)
498,324
359,943
7,239,799
$7,233,770
($72,338)
$7,161,432
(71,614)
(87,154)
(71,614)
(358,072)
513,274
370,741
7,456,993
$7,450,783
($74,508)
$7,376,275
(73,763)
(89,768)
(73,763)
(368,814)
528,672
381,863
7,680,702
225,353
72,557
791,419
36,279
106,839
172,323
196,691
45,348
199,532
194,390
282,115
63,487
2,386,332
235,465
74,734
815,162
37,367
50,858
177,493
202,592
46,709
205,518
200,221
290,578
65,392
2,402,088
242,529
76,976
839,617
38,488
52,384
182,818
208,669
48,110
211,683
206,228
299,295
67,354
2,474,150
249,805
79,285
864,805
39,643
53,956
188,302
214,929
49,553
218,034
212,415
308,274
69,374
2,548,375
257,299
81,664
890,749
40,832
55,574
193,951
221,377
51,040
224,575
218,787
317,522
71,456
2,624,826
265,018
84,114
917,472
42,057
57,241
199,770
228,019
52,571
231,312
225,351
327,048
73,599
2,703,571
272,968
86,637
944,996
43,318
58,959
205,763
234,859
54,148
238,252
232,112
336,860
75,807
2,784,678
281,157
89,236
973,346
44,618
60,727
211,936
241,905
55,773
245,399
239,075
346,965
78,082
2,868,218
289,592
91,913
1,002,546
45,957
62,549
218,294
249,162
57,446
252,761
246,247
357,374
80,424
2,954,265
298,280
94,671
1,032,622
47,335
64,426
224,842
256,637
59,169
260,344
253,635
368,096
82,837
3,042,893
307,228
97,511
1,063,601
48,755
66,359
231,588
264,336
60,944
268,154
261,244
379,138
85,322
3,134,180
3,247,485
3,484,531
3,589,067
3,696,739
3,807,641
3,921,870
4,039,527
4,160,712
4,285,534
4,414,100
4,546,523
Annual Expense Growth

3.00%
Expenses
Mgmt Fees @ 4.00%
Administrative
Payroll
Marketing - Advertising
Marketing - Locator Fees
Repairs & Maintenance
Parking Expense
Turnover
Utilities
Insurance
Real Estate Taxes
Reserves
Total Expenses
Net Operating Income
Year 1
$/Unit
$1,358
$437
$4,768
$219
$644
$1,038
$1,185
$273
$1,202
$1,171
$1,699
$382
$14,375.50
Year 1
$/RSF
$1.13
$0.36
$3.95
$0.18
$0.53
$0.86
$0.98
$0.23
$1.00
$0.97
$1.41
$0.32
$1,979.45
Year 1
% of EGI
4.00%
1.29%
14.05%
0.64%
1.90%
3.06%
3.49%
0.80%
3.54%
3.45%
5.01%
1.13%
42.4%
2 Canal Total Development Overall Estimated Proforma

Year 1
Year 2
Year 3
Year 4
2017-2018
2018-2019
2019-2020
2020-2021
Year
Year 5
2021-2022
Year 6
2022-2023
Year 7
2023-2024
Year 8
2024-2025
Year 9
2025-2026
Year 10
2026-2027
Hotel Revenue
Apartment Revenue
Total Revenue
43,170,451
5,633,817
$48,804,268
47,637,871
5,886,619
$53,524,490
52,440,192
6,063,217
$58,503,409
54,013,398
6,245,114
$60,258,511
55,730,321
6,432,467
$62,162,789
57,803,297
6,625,441
$64,428,738
59,962,886
6,824,205
$66,787,091
62,213,176
7,028,931
$69,242,107
64,558,465
7,239,799
$71,798,263
67,499,492
7,456,993
$74,956,484
Hotel Expenses
Apartment Expenses
Total Expenses
31,051,360
2,386,332
$33,437,692
32,992,647
2,402,088
$35,394,735
35,637,374
2,474,150
$38,111,524
36,715,534
2,548,375
$39,263,909
37,856,100
2,624,826
$40,480,927
39,132,498
2,703,571
$41,836,069
40,465,810
2,784,678
$43,250,488
41,858,885
2,868,218
$44,727,103
43,314,722
2,954,265
$46,268,987
45,219,075
3,042,893
$48,261,968
Total NOI
Ground Lease
NOBC Portion of Income
Net NOI
$15,366,576
(1,850,000)
(114,128)
$18,129,755 $20,391,885 $20,994,602 $21,681,862 $22,592,670 $23,536,603 $24,515,003 $25,529,276 $26,694,516

(1,887,000)
(1,924,740)
(1,963,235)
(2,002,499)
(2,042,549)
(2,083,400)
(2,125,068)
(2,167,570)
(2,210,921)
(255,735)
(288,711)
(294,485)
(300,375)
(306,382)
(312,510)
(318,760)
(325,135)
(331,638)
$13,402,448
$15,987,020
Tax Credit Payments

Debt Service Payment
Cash Flow After Debt Service
Return On Investment - Unleveraged
Return On Investment - Net of Tax Credits
1
Return On Equity - Leveraged
Return on Equity - Net of Tax Credit Proceeds Available at Stabilization
Debt Service Coverage Ratio
$18,178,434
$18,736,882
$19,378,988
(3,177,776)
(9,625,096)
(3,177,776)
(9,625,096)
(3,177,776)
(9,625,096)
(3,177,776)
(9,625,096)
(3,177,776)
(9,625,096)
$599,576
$3,184,148
$5,375,562
$5,934,010
$6,576,115
$20,243,738
(9,625,096)
$10,618,642
5.2%
6.9%
6.2%
8.6%
7.1%
10.1%
7.3%
10.5%
7.6%
10.9%
2.9%
5.0%
6.7%
7.1%
7.6%
8.3%
0.8%
1.39
4.4%
1.66
7.4%
1.89
8.1%
1.95
9.0%
2.01
14.6%
2.10
Note:
1) Return on Equity-Leveraged - Includes developer equity as well as tax credit equity
2) Return on Equity - Net of Tax Credit Proceeds -Includes all deductions for payments to tax credit investor
7.9%
13.7%
$21,140,692
(9,625,096)
$11,515,596
8.2%
14.3%
$22,071,175
(9,625,096)
$12,446,079
$23,036,571
(9,625,096)
$13,411,475
$24,151,957
(9,625,096)
$14,526,861
8.6%
14.9%
9.0%
15.5%
9.4%
16.3%
9.0%
9.7%
10.5%
11.3%
15.8%
2.20
17.1%
2.29
18.4%
2.39
19.9%
2.51
D.5
74
Oxford Oxford
Capital Group, LLC
D.6
Estimated Number of Jobs Created

Construction Jobs
Full Time
Part Time
Hotel Jobs
Full Time
Part Time
F&B Jobs
Full Time
Part Time
Apartments Jobs
Full Time
Part Time
Retail Jobs
Full Time
Part Time
Total Jobs
Total Full Time Jobs
Total Part Time Jobs
Pre-Opening
800
450
350
19
19
0
10
10
0
4
4
0
2
2
0
835
485
350
Year 1
0
0
0
111
98
13
181
127
54
13
13
0
43
27
16
348
265
83
Year 2
0
0
0
121
104
17
181
127
54
13
13
0
43
27
16
358
271
87
Year 3
0
0
0
125
107
18
181
127
54
13
13
0
43
27
16
362
274
88
Year 4
0
0
0
125
107
18
181
127
54
13
13
0
43
27
16
362
274
88
Year 5
0
0
0
125
107
18
181
127
54
13
13
0
43
27
16
362
274
88
Total Estimated Salaries

Construction
Hotel
F&B
Apartments
Retail
Total Salaries
Pre-Opening
40,000,000
669,660
405,645
92,233
0
$41,167,538
Year 1
0
4,072,854
4,061,426
616,392
936,887
$9,687,559
Year 2
0
4,512,971
4,183,269
634,884
964,994
$10,296,117
Year 3
0
4,820,179
4,308,767
653,930
993,943
$10,776,820
Year 4
Year 5
0
0
4,964,785
5,113,728
4,438,030
4,571,171
673,548
693,755
1,023,762
1,054,475
$11,100,125 $11,433,128
D.7 Orleans Parish/Local Business Participation Plan
Oxford Oxford
Capital Group, LLC
75
I|O Urban Roofscape at The Godfrey Hotel in Chicago, Illinois
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financial and lease terms | REDEVELOPMENT OF 2 CANAL STREET
Oxford Oxford
Capital Group, LLC
FINANCIAL AND LEASE TERMS
E.1
on the sale.
Planning Period (4 Months)

$0
Construction Period (20 Months)
$0
Year 1
$48,804,268
Year 2
$53,524,490
Year 3
$58,503,409
Year 4
$60,258,511
Year 5
$62,162,789
PV of First 5 Years of NOBC Revenue Share4
PV of Future Revenue Sharing
PV of 99 Year Ground Lease6
$308,333
$1,541,667
$1,850,000
$1,887,000
$1,924,740
$1,963,235
$2,002,499
$0
$0
$277,500
$283,050
$288,711
$294,485
$300,375
$0
$0
$114,128
$255,735
$288,711
$294,485
$300,375
$308,333
$1,541,667
$1,964,128
$2,142,735
$2,213,451
$2,257,720
$2,302,874
$1,059,364
$2,894,872
$98,759,687
1) Based on projected proforma

2) Based on proposed ground lease terms, including annual base payment of $1,850,000 in year 1 of operations (2017-2018) inflated by 2% per annum thereafter and 50%
planning / renovation period base rent of $925,000
3) Based on expected revenue share of 15% of annual ground lease for such year
4) 5 years of revenue share proceeds discounted to present at 3.5%
5) Assumes year 5 sale and Ground Lessor participation equivalent to sales cap rate applied to revenue sharing proceeds during prior 12 months
6) Annual ground lease payments discounted at 3.5% rate to present value
Oxford Oxford
Capital Group, LLC
REDEVELOPMENT OF 2 CANAL STREET | financial and lease terms
77
I|O Urban Roofscape at

78
dbe participation
Oxford Oxford
Capital Group, LLC
DISADVANTAGED
BUSINESS ENTERPRISES
(DBE) PARTICIPATION
F.1
Oxford Oxford
Capital Group, LLC
REDEVELOPMENT OF 2 CANAL STREET | dbe participation
79
Construction Quality & Safety Standards

improvement.
80
dbe participation
Oxford Oxford
Capital Group, LLC
Oxford Oxford
Capital Group, LLC
REDEVELOPMENT OF 2 CANAL STREET | dbe participation
81
2/13/2015
I|O Urban Roofscape and exterior image of

88
other requirements | REDEVELOPMENT OF 2 CANAL STREET
Oxford Oxford
Capital Group, LLC
OTHER REQUIREMENTS
G.1 Description of Changes
Veracity Statement
Oxford Oxford
Capital Group, LLC
REDEVELOPMENT OF 2 CANAL STREET | OTHER REQUIREMENTS
89
90
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Capital Group, LLC
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Capital Group, LLC
91
92
Oxford Oxford
Capital Group, LLC
Oxford Oxford
Capital Group, LLC
93
94
Oxford Oxford
Capital Group, LLC
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Capital Group, LLC
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96
Oxford Oxford
Capital Group, LLC
ATTACHMENT B
Agreement and Signature
By submitting the enclosed response, the undersigned affirms that the facts set forth in it are
true and complete. The undersigned understands that any false statements, omissions, or other
misrepresentations made in connection with the response may result in dismissal of the
undersigned's application.
Name (printed)
John W. Rutledge, President & CEO
Signature
Date
Oxford Oxford
Capital Group, LLC
February 12, 2015
97
EXHIBIT A
page 1 of 9
THE GODFREY HOTEL

BRAND GUIDE
BRAND NAME MEANING
THE NAME GODFREY DERIVES FROM AN ANCIENT EUROPEAN

NAME MEANING - PEACE AND WELCOME
21
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Capital Group, LLC
REDEVELOPMENT OF 2 CANAL STREET | EXHIBIT A
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EXHIBIT A
page 2 of 9
BRAND HALLMARKS
REPRESENT THE HOTEL
SURPRISE AND DELIGHT WITH SERVICE

ICONIC ARCHITECTURE
DISTINCTIVE AND SOPHISTICATED INTERIOR DESIGN
FLEXIBLE PUBLIC SPACES
FULL SERVICE | BOUTIQUE
LIFESTYLE AND CULTURE
HEALTHY. WELL-THY. FUN.
TECH PLUS TOUCH
GREEN OPERATIONS
COMMUNITY INVOLVED
PILLARS OF THE BRAND

REPRESENT THE CULTURE
STYLISH & SURPRISING

MEMORABLE & AUTHENTIC
CREATIVE & INNOVATIVE
PLAYFUL & DISTINCTIVE
HIP & SMART
VIBRANT & FRESH
100
EXHIBIT A | REDEVELOPMENT OF 2 CANAL STREET
Oxford Oxford
Capital Group, LLC
EXHIBIT A
page 3 of 9
LTSCAs
LONG TERM SUSTAINABLE COMPETITIVE ADVANTAGES
ICONIC
ARCHITECTURE
Iconic architecture
GRACIOUSLY APPOINTED,
ECO-FRIENDLY GUEST
ROOMS
Design features, tech packages, low voltage lighting, heat
exchangers, etc..
UNIQUE
SPACES/VENUE
Each Godfrey Hotel offers unique flexible
spaces/venue for guests to utilize enhancing
their experience of travel.
BRAND CULTURE
WHO WE ARE NOT
SNOBBY
WHO WE ARE
UNIQUE
VIBRANT
TRENDY
HIP
STYLISH
PRENTENTIOUS
PLAYFUL
SURPRISING
BLASE
EVERYONE ELSE
ORNATE
TECHNOLOGY PROUD
CHIC
AUTHENTIC
AVERAGE
BORING
ELEGANT
STIMULATING
WASTEFUL
MEMORABLE
SHALLOW
CONVENTIONAL
MINIMAL
CREATIVE
FRESH
PERSONALITY
DISTINGUISHED
SATISFIED WITH THE STATUS QUO
SOPHISTICATED
Oxford Oxford
Capital Group, LLC
101
EXHIBIT A
page 4 of 9
DISCOVER YOUR ELEMENT
Every day, we spend our time in endless

places and spaces designed for someone else.
At
Life requires us to live outside our comfort zone everyday.
And while we take it all in stride (perhaps even with style),
all of us seek out those rare spots where we feel entirely at ease.
At The Godfrey, weve created a place that pays far more
attention
to comfort than convention. More attention to style than
standards.
Weve been waiting for you.
Discover Your Element.

CUSTOM ELEMENT CHART
102
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Capital Group, LLC
EXHIBIT A
page 5 of 9

CUSTOM ELEMENT CHART

ELEMENT CHART GLOSSARY
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Capital Group, LLC
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EXHIBIT A
page 6 of 9
BRAND ADVERTISING
11
BRAND COLLATERAL
12
104
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Capital Group, LLC
EXHIBIT A
page 7 of 9
BRAND COLLATERAL
13
THE GODFREY HOTEL CHICAGO

EXTERIOR DESIGN
14
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Capital Group, LLC
105
EXHIBIT A
page 8 of 9

LOBBY & AMENITIES
15

GUEST ROOMS
16
106
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Capital Group, LLC
EXHIBIT A
page 9 of 9

I|O URBAN ROOFSCAPE - INDOOR | OUTDOOR LOUNGE
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1
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EXHIBIT B
page 1 of 3
Sheppard, Mullin, Richter & Hampton LLP
70 West Madison Street, 48th Floor
Chicago, Illinois 60602
312.499.6300 main
312.499.6301 fax
www.sheppardmullin.com
MEMORANDUM
To:
From:
Re:
Sarang Peruri
Matthew Kalt
Date:
Michael J. Roth
File Number:
February 11, 2015

32NZ-207748
Proposed Lease Form - New Orleans, Louisiana
The purpose of this memorandum is to provide certain high level comments on the form of lease
agreement (Lease) provided as part of what we understand is an RFP process from the City of
New Orleans, Louisiana and the New Orleans Building Corporation, with respect to the potential
redevelopment of the World Trade Center New Orleans.
At a general level, we note that the Lease as presented appears to represent a very specific
business deal, and that many of the terms in the agreement do not necessarily relate to the
business deal we understand Oxford is proposing in its response to the RFP. We also
understand that you are proposing the specific terms of the Oxford business deal in separate
documents. Accordingly, we have prepared this memorandum to highlight certain high level
comments we identified in the current draft Lease that will require further discussion. In a few
instances, we have also addressed a related Parking Agreement that was provided in
connection with the RFP, where such document relates to a similar concept in the Lease, and
we note that many of the comments here will likely also apply to similar terms in the Parking
Agreement. Finally, we note that this is not an exhaustive list, and that final comments would
come in the form of a markup that has been revised to reflect an agreed business deal.
Comments
1. When the Lease references review, approval, consent, and related concepts from
the City and Landlord, it does not specify who will provide the same. Is there one point
of contact who will have authority to make decisions? Likewise, if the Lease needs to be
amended or modified, who will have authority to do the same?
2. The definition of Comparable Project is overly broad. As drafted, it would require that
the Project be compared to any similar project located anywhere within the United States
within a rolling five year period. This needs to be revised to reflect a standard measured
in comparison with similar projects in the local market, taking into consideration the
nature of this project and the limitations of the same.
3. The Lease effectively locks the tenant into a development program with little room to
change the program during the design and construction process. As drafted, at lease
execution the number of hotel keys, commercial space and number of apartments would
SMRH:204043746.1
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-1REDEVELOPMENT OF 2 CANAL STREET | EXHIBIT B
109
EXHIBIT B
page 2 of 3
be fixed, subject to change only with Landlord approval. This would potentially not allow
the tenant to make changes dictated by the market.
4. The Lease reflects a requirement that the hotel portion of the project be part of a national
franchise system, and contains many requirements related to being part of a franchise
system. We understand that the Oxford project may involve a boutique hotel brand that
may or may not be a franchise, or potentially could be part of a soft-brand system that
may have lesser requirements than a typical franchised hotel. You will need flexibility in
the Lease to pursue the option that fits into your business plan at the proper time,
including any ability to opt in or opt out of a franchise system throughout the Lease term.
In addition, at one point the Lease appears to try to override the requirements of a
franchisor with respect to franchise standard, which will likely not be acceptable to a
franchisor.
5. We assume this will be a lease term of at least 99 years, but it could be helpful from a
future financing standpoint to build extension options into the Lease. Additionally, an
right of first offer or right of first refusal to purchase the property seems appropriate here
given the expected level of investment in the redevelopment by the tenant.
6. The definition of Gross Revenues in the Lease with respect to parking revenues seems
to double count the parking revenue when taken in conjunction with the market rent to
be paid under the Parking Agreement. As drafted, the City would be receiving a market
rate rent on the parking spaces, plus a percentage of the gross revenues from the
parking spaces. The portion of parking revenues on which gross rent should be charged
should be any additional revenues over the market rate, not the gross revenues.
7. The definition of Luxury Apartments requires more flexibility to permit flexibility as the
Lease term matures. Placing a floor on rents, coupled with an obligation to always have
modern fixtures and equipment, will make this difficult to finance, as it creates an
ongoing obligation to (i) constantly modernize the project over an extended term and (ii)
keep rents artificially inflated and not able to respond to market conditions.
8. The Lease needs to grant the tenant the ability to convert the luxury apartments to a
luxury condominium development at a later date. This may include creating separate
leasehold estates and imposing some form of recorded covenants on the building to deal
with bifurcated ownership.
9. The Lease seems to have some potential conflicts of interest where the City controls the
process for some of the covenants. For example, the Lease contains covenants that the
project will comply with zoning requirements, moratoria and other requirements placed in
effect by the City. This seems to be an area where the City would have a form of veto
power over the project. Likewise, the Lease contains fairly typical condemnation
provisions, except that here, the landlord is the party most likely to the condemning
authority. These conflicts need to be discussed in greater detail.
10. In lieu of specific, required uses at the project, as tenant we would prefer that the Lease
specify what uses are unacceptable, with a mechanism for the parties to resolve any
reasonable objection the City may have to a use not listed as an unacceptable use.
11. The process for review and approval of plans and specifications is overly cumbersome.
As drafted the City would have 30 days to review schematic plans, and once approved,
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Capital Group, LLC
EXHIBIT B
page 3 of 3
almost any changes would require further City input. Then, once approved, the tenant
has only 30 days to create final construction drawings. As the design process can be
iterative and take longer than 30 days from schematic design to final construction
drawings, we would prefer to see City approval of a design program, with input from the
City afterwards during the process, and more flexibility in terms of timing and tenants
rights to make changes to the plans, so long as they are consistent with the approved
program.
12. The initial deposit should be refundable to the tenant if the tenant is unable to secure
financing within some limited time period. We also note that the requirement for a
binding financing commitment may be unrealistic, as few, if any, lenders will execute
binding commitments to loan money until the moment of loan closing.
13. The ongoing operations and maintenance requirements give the City tremendous control
over the operations and upkeep of the project. Effectively, if the City wants something
changed or upgraded, it has the power to force the tenant to do so, as the tenant would
face default under the Lease if it failed to comply. We anticipate this level of control and
risk will be difficult for a lender to accept. There needs to be a mechanism for a third
party to decide disputes over the tenants compliance with these subjective covenants.
There should be a similar mechanism related to capital expenditures for the project as
the lease term winds down, as the City could receive a windfall by requiring capital
expenditures near the end of the Lease term.
14. The leasehold finance provisions will likely require input from the eventual financing
source, as our recent experience has shown us that most commercial lenders will have
their own specific requirements from a landlord on these provisions.
15. The sublease provisions purport to give the tenant the ability to sublease to qualified
parties, but the decision as to whether a party is qualified depends on the Citys
subjective determination of whether certain standards have been met. There needs to
be a true concept of an objective standard so that the tenant can manage the project
without seeking constant approval from the City.
16. The Lease restricts the ability of the Tenant to make any transfers of indirect ownership
interests in the tenant without prior notice to the City and City approval, no matter how
small or indirect the transfer may be. We propose modifying this to permit indirect
transfers of non-controlling ownership interests, with a list of prohibited attributes for
transferees (e.g., typical OFAC/Patriot Act restrictions).
17. In the event of a total casualty of the building, or a substantial casualty during some
portion of the term, the tenant needs some ability to terminate the Lease in lieu of
rebuilding the same. In addition, the rent abatement provisions may need to be modified
if restoration of a casualty will exceed the tenants business interruption insurance.
18. The insurance provisions will require further input from insurance advisors as Lease
negotiations continue.
19. The Lease mentions confidentiality of the tenants financial information, but also notes
that disclosure of the information may be subject to applicable laws. As the City is
presumably subject to FOIA laws, would this mean that the tenants and any sublessees
financials are also subject to disclosure under FOIA?
SMRH:204043746.1
Oxford Oxford
Capital Group, LLC
-3REDEVELOPMENT OF 2 CANAL STREET | EXHIBIT B
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REDEVELOPMENT OF

The City of New Orleans & the

Hotels & Resorts, LLC

New Orleans Building Corporation

Hotels & Resorts, LLC

REDEVELOPMENT OF 2 CANAL STREET | COVER LETTER

and private event spaces.

Hotels & Resorts, LLC

REDEVELOPMENT OF 2 CANAL STREET | COVER LETTER

Hotels & Resorts, LLC

development plan | REDEVELOPMENT OF 2 CANAL STREET

Hotels & Resorts, LLC

pool and private event spaces. Each of the components

The summary table and Gantt chart on the following

Time Lapse photo of the New Orleans Skyline

Hotels & Resorts, LLC

REDEVELOPMENT OF 2 CANAL STREET | development plan

Construction Permit Issued

New Orleans WTC Redevelopment

Construct 4-story Ballroom Tower - See

NOLA Annex Building

NOLA Annex Building

An adaptive reuse project of this scale, if not managed

interior, we plan to further enhance the surrounding

a deep knowledge of the building, which gives us great

landscape. We also plan to clean up and restore the

our proposed renovation on time and within budget.

site through the waterfront, seamlessly connecting Canal

redevelopments of the building since the mid 1990s

An additional challenge is that Oxford will need to receive

Our teams development plan will generate substantial

repositioning of the property with a high design lifestyle

development plan | REDEVELOPMENT OF 2 CANAL STREET

approachable to pedestrians. We believe this will add

Hotels & Resorts, LLC

$11 billion by the citys tricentenial anniversary in 2018.

adjacent neighborhoods, and increase visitation and

Hotels & Resorts, LLC

REDEVELOPMENT OF 2 CANAL STREET | development plan

and event space in the city, with sweeping views of the

development plan | REDEVELOPMENT OF 2 CANAL STREET

Hotels & Resorts, LLC

Food and Beverage, Meeting Space, and Entertainment Venues:

Hotels & Resorts, LLC

REDEVELOPMENT OF 2 CANAL STREET | development plan

166 Luxury Apartments Units

Schedule of Market Rents and Unit Mix

energy and culture of the city.

development plan | REDEVELOPMENT OF 2 CANAL STREET

Hotels & Resorts, LLC

Hotels & Resorts, LLC

REDEVELOPMENT OF 2 CANAL STREET | development plan

Improved Urban Design

development plan | REDEVELOPMENT OF 2 CANAL STREET

Hotels & Resorts, LLC

Hotels & Resorts, LLC

REDEVELOPMENT OF 2 CANAL STREET | development plan

The Godfrey Hotel in Chicago, Illinois

project design | REDEVELOPMENT OF 2 CANAL STREET

Hotels & Resorts, LLC

inTenT of These drawings is To depicT concepT only.

These drawings are

WORLD TRADE CENTER NEW ORLEANS, LA | SITE PLAN

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