Bradley Fields – This is a 20-acre single family lot subdivision on the east end of the City of Lynden at the corner of Bradley and Line Roads. The Company acquired the land from three separate land owners and managed the Preliminary Plat Approval process. Upon receiving Preliminary Plat Approval, the project was sold to an affiliated entity, Bradley Fields Investors, LLC, in December 2004. Bradley has developed the project with Pacific Crest Partners as its Managing Member. The streets and utilities for a 71-lot subdivision (61 being owned by the new LLC) were constructed by a qualified contractor and the work was completed in June 2006. Residential lots are currently are on the market and being sold.

FOR MORE INFORMATION CALL ETHAN AT 360.510.1049 or check out the website: www.BradleyFieldsCommunity.com

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The Grove: The Grove is a unique 40-acre residential subdivision on Whidbey Island with substantial public and private open space and trails. The Company acquired the property after completing an 18-month process to annex this property into the City of Langley on the south end of Whidbey Island. The Company obtained preliminary plat approval for the project following design of the infrastructure. Construction of a public and private trail system and rough grading for the project is completed. The Company is seeking to modify the plat design prior to proceeding with infrastructure construction.

Northwest Plaza Building: A Company affiliate (Pacific Crest Assets, LLC) acquired with a partner (a Bank) in April 2004 a 22,000 sq. ft. office building in downtown Bellingham at the corner of Grand Avenue and Champion Street. The Company then completed a condominium conversion of the building after which 2 units of the building were conveyed to the bank partner and the remaining 8 office units and 1 storage unit of the building were conveyed to the affiliate. The Company maintains its offices in one unit and manages the leasing of the other eight units on behalf of the affiliate. The Company also manages the building and the Condo Association. Seven of the eight Company owned office units have been renovated. The Northwest Plaza building is located at 220 West Champion Street in the growing Bellingham Arts and Entertainment District.

Padden Trails: A 224 lot residential project on the south side of Bellingham. The Company’s subsidiary (Padden Trails, LLC) currently owns 112 acres of residential land that was acquired in numerous transactions negotiated by the Company. Pacific Crest Partners is the managing member of Padden Trails, LLC. The project will facilitate 37 acres of significant ridge and water view land be given to the City of Bellingham to add to Lake Padden Park. The project will include trail connectors into the Park from the project containing elevated water and territorial views. Preliminary Plat approval was obtained in late January 2006.  Padden Trails, LLC has cleared the site and has plans to construct the streets and utilities for the site.

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San Juan Hill: In early 2005 the Company acquired about 23 acres within a large undeveloped block of land in South Bellingham in the Bellingham City limits. A Preliminary Plat Application was turned into the City of Bellingham for review in July of 2006. The Proposed plat would have 50 residential lots averaging 7,500+ square feet in size. Many of the lots will have views of Bellingham City, Bellingham Bay, and/or the San Juan Islands. Preliminary Plat Approval has been obtained for this residential development.

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