Projects of Avi Nevo and

Segula Investments, Inc.

2100 Shattuck Avenue, also known as the Francis Shattuck Building, was formerly a vacant, two story residential hotel over ground floor retail. When Mr. Nevo acquired the property in 1998 he applied for and received approval from the City of Berkeley to change the use of the project from residential to commercial on the upper floors and obtained permission to add a new fourth floor to the building. The property now consists of a completely remodeled and seismically upgraded four story plus lower level building which contains approximately 50,000 sq. ft. of rentable space. The renovations included a complete seismic upgrade, all new electrical service, elevators, and major systems upgrade and the addition of the entire fourth floor.

The entire three floors of office space are leased to the Regents of the University of California. The ground floor is leased to a variety of high quality, credit-worthy retailers, and the corner retail space, which consists of 5,000 square feet, is leased to Downtown Restaurant, which opened in the spring of 2001.

The Pioneer, located at 2161 Allston Way in Berkeley, is a new 60-unit, six-story residential project over ground floor retail and parking that completed in the Spring of 2002. The building consists of two levels of concrete and four floors of wood and steel frame. The unit mix features 28 Studios, 19 – 1 BR units, 12 – 2 BR units, and 1 – 3 BR unit. The apartment rents are averaging approximately $1,700 per month on average ($3.25 / sq. ft.) and the ground floor commercial space is leased for over $3.00 per sq. ft. on a NNN basis. The building interest was sold upon completion and lease up in July of 2002.

Hillside Village Apartments, located at 1797 Shattuck Avenue, is a new mixed-use residential development over ground floor commercial and parking. The site is a 19,500 sq. ft. in area, located three blocks north of downtown and only two blocks west of the U.C Berkeley campus making the property extremely well located for high density, mixed-use development. The plan calls for building 65 residential units containing 48,000 sq. ft. on four floors above 6,500 sq. ft. of retail and 11,000 sq. ft. of parking for 59 cars. The residential portion of the project is designed with 47 - 2 BR units, 10 -1BR units and 8 studios.

Construction on the project began in the Spring of 2003 with completion of the project scheduled for the Spring of 2005.

Campanile Court, located at 2070 University Avenue, is a 30,000 mixed-use building containing 42 apartments over 5 ground floor retail spaces. Avi Nevo acquired this blighted residential hotel property, which had previously been damaged by fire in July of 1996. He then proceeded to work with the City who agreed to waive any parking requirement. As a result he was able to renovate this structure and add a new building in the rear. This property was sold in 2001.

Stadium Plaza Apartments, located at 2308 – 2312 Fulton Street at Durant Street is a new 74-unit five-story mixed use residential over commercial building with parking for 18 cars. The site is a 20,750 sq. ft. of area, and is located one block east of Shattuck Avenue and adjacent to the University of California at Berkeley Campus, making the property extremely well located for high density, residential development. The project will contain 70,000 square feet of gross building area broken down into four floors of apartments containing 74 units over approximately 6,500 square feet of retail spaces fronting along Fulton and Durant. The construction began in Spring of 2004 with completion scheduled for Winter of 2005.

Golden Sheaf Bakery Building, located at the heart of the Art District at 2071 Addison Street, between the Berkeley Repertory Theatre and the Kress Building. The building was originally built in 1877 for the Golden Sheaf Bakery, and its most recent use was a storage facility for theatrical props and costumes used by the Berkeley Repertory Theatre. Mr. Nevo purchased the vacant stracture in June of 2000 and immediately began the process of seismically upgrading and renovating the building into first class commercial space. The building was renamed the Nevo Educational Center and is donated to the Berkeley Repertory Theatre, who operates a performing arts center focused primarily on introducing the theatre arts to children. Mr. Nevo occupies approximately 1,000 sq. ft. on the second floor for his construction and development companies. The project was completed in December 2001.

1820 Solano Avenue, The building is located in the heart of the Upper Solano Avenue Shopping District. The site is 14,250 sq. ft. in area, which Mr. Nevo acquired in July 2001. The project features an architecturally attractive, 21,000 sq. ft, two level commercial building over one level of underground parking for 31 cars. The ground floor consists of 6 manicured retail spaces and the upper floor consists of 6 quality office spaces. Construction began in August of 2002 and the project was completed in the Fall of 2003. The corner location is leased by La Farine Bakery, a well known local bakery, who operates its second location in Berkeley.

1809 Shattuck Avenue at the corner of Delaware Street, Berkeley, is a 12,500 sq. ft. lot, located two blocks from the Downtown District, and two blocks west of the University campus. The proposal calls for demolishing of the existing building and erecting a 4-story 29 unit “for sale” condominium project over 4,250 sq. ft. of ground floor retail space and 7,750 sq. ft. of parking garage and common areas. The individual condominium units will consist of one studio, a one bedroom unit, 23 two bedroom units and 4 three bedroom units. The construction is scheduled to commence in the Spring of 2005 and be completed for marketing and sale in the Summer of 2006.