1. Osborn Campus Expansion of The Campus - An Enduring MIT Community Phoenix Development Group Bozho Deranja, Anthony Guma, Tianjin Luo, James Rizzo

2. EFFICIENT FLEXIBLE ENDURING SUSTAINABLE PREPARED PRODUCTIVE Osborn Campus Osborn Campus / Phoenix Development

3. Osborn Campus Creating Synergies Adaptive Reuse Flexible Design Efficient Energy 24 Hour Activation Complimenting Cluster Plan Strengthening the MIT Image Providing Returns $350 Million Paid Upfront 4 phase construction Flexible to MIT’s needs – And to the Market’s Experienced management Attracting Students and Faculty

4. Osborn Campus Program Residential Office Retail Hotel Conference Center Lab Academic Total 483,576 762,899 76,701 303,477 62,619 557,052 857,936 3,104,260 SF

5. Osborn Campus Residential Lab Office/ Academic Mixed Use TOD Corner 5 SYNERGETIC CLUSTERS

6. Osborn Campus TOD Mixed-Use 100% Corner Mass. Ave. MIT Service to Business Urban Ring Activation

7. Osborn Campus Academic The Corridor Continues Campus Feeling Flexible Space Industry Relations / Lively Environment

8. Osborn Campus Lab / Bio-tech Proximity to Tech Sq. Premium Rents MIT - relationship – Flexible Space Biotech Campus

9. Osborn Campus Residential Neighborhood History Walk-able living Shared Views 24 Hour Activation Proximity – Kendall SQ / Central SQ /Urban Ring

10. Osborn Campus Mixed Use – Mass. Ave. MIT & Central – Bridging the Gap – Critical Mass Hip / Modern Hotel 5 Star Restaurant / Bar Desirable Office Address

11. Osborn Campus Value Drivers MIT Functional and Flexible Academic Facilities $350 million proceeds An Extension of Campus – 600 student beds by 2011 – 600,000 sq. ft. Academic Space by 2012 MIT Retains Ownership Professional Management Strengthened Relationship with Community & Industry City of Cambridge Activation of Surrounding Neighborhood Tax Benefit / Low Draw on Services Reasonable FAR of 4.0 – Planned Unit Development Mixed Income Housing 24 Hour Walk-able Environment Job Creation

12. Osborn Campus Development Deal $350 Million Upfront for 99 year Ground Lease – $1 per year lease – MIT Retains Land Ownership – Figures based on 8% WACC and 6.5% Cap Rate Phoenix Development Owns Builds (Sans Academic) Academic Buildings Built at cost plus Developer’s Fee ($146,571,685) MIT Retains Right of First Refusal for All Non Academic Phoenix Development Group Professionally Manages Properties