Joint ventures made it possible for Fund I to invest a total of $80 million in land at cost and create diversification with its $35 million of capital. Investments included raw land, finished commercial sites, and residential acreage. Fund 1 owns over 5 miles of freeway frontage, with direct access to 5 freeway interchanges. Fund 1 is weighted in West Houston, which continues to lead Houston in commercial and residential growth and development. Investors in Fund I were able to spread their investments over four (4) years and the average life of invested capital is 37 months as of 12/31/2012. Based on independent third-party valuation, the current fair market value of Fund I’s assets (as of 12/31/12) indicate a value of 1.7x investor’s unreturned capital. Parkside Capital was able to deploy its capital with conservative underwriting and identify assets that could be enhanced in value through the entitlement process.