Presentation to

1

• Presentation to
• William Mary University Development
• April 14, 2008

New Town
WM Campus
2
William and Mary Real Estate Foundation

• Established in the summer of 2006.
• Hired as Executive Director in January 2007.
• Was Director of Real Estate for VCU.

3
William and Mary Real Estate Foundation

• Exempt from Federal income tax under section
  501(c)3 of Internal Revenue Code.
• Mission is to acquire, hold, manage, sell, lease
  and participate in the development of real
  properties in support of the educational goals of
  WM.

4
William and Mary Real Estate Foundation

• 8 REF Board members including the President of
  WM.
• Report to REF Board Chairman with a dotted line
  to Sam Jones for administrative purposes.
• Office in Corner House.

5
Discovery Buildings in New Town
Discovery II 20,000 SF WM Economic
Development WM Technology and Business
Center WM Research Institute WM Real Estate
Foundation James City County Economic
Development Thomas Nelson CC Tech
Classrooms Greater Williamsburg Community Health
Foundation
Discovery I 34,000 SF WM Development
6
William and Mary Real Estate Foundation

• WM Foundation and BOV each provided financial
  support for REF.
• REFs operating cost paid by WM Foundation BOV
  for next 2 fiscal years.
• WM Foundation transferred roughly 43 acres of
  land in Newport News to REF.

7
Oyster Point Property
Discovery I 34,000 SF WM Development
Located at the corner of Jefferson Avenue and
Oyster Point Road in Newport News, adjacent to
the Jefferson Lab.
8
William and Mary Real Estate Foundation

• Decided to sell property because not a core WM
  asset.
• The property is under contract, which is subject
  to rezoning.
• Proceeds will be used to acquire properties on
  campus perimeter.

9
The Changing Campus Perimeter
Future School Of Education Next to
Williamsburg Shopping Center
New Town 87 Businesses Oct 07 Movie
Theater, Quiznos, Corner Pocket, Ben Jerrys,
Cheeburger, Bonefish Grill, Panera Bread, Center
Street Grill, Greenleaf, Barnes Noble, Foot
Locker
Scotland Street -- Delly Area Green Leafe,
Pauls,College Delly, Hospitality House Grill
High Street
Merchants Square Kimball Theater, College
Bookstore, Stephanos Pizza, Aromas, Cheeseshop,
Baskin Robbins
10
William and Mary Real Estate Foundation

• Stimulate more businesses geared to students
  interests next to campus.
• WAWA success
• Location of student residences
• Things open late.
• Purchased 3 properties near WAWA on Richmond Road
  with funds provided by BOV.

11
Richmond Road Purchases
630 Prince George Street Taylor Building
Master Craftsman 255 Richmond Road
Center for Archeological Research 327 Richmond
Road
High Street
Merchants Square
12
William and Mary Real Estate Foundation

• REF also accepts real estate gifts.
• For its own benefit.
• And for the benefit of the College and its
  related foundations.