CASE STUDY GLENVIEW CONDOMINIUMS LOS ANGELES, CALIFORNIA Property Information Location 3030 Valle Vista Dr. Los Angeles, CA Number of units 45 Converted to Condo 2007 Year Built 1960 As a Co-op As a Condo Property was in an excellent location in a residential area of Los Angeles, CA but suffered from low values and limited sales activity. Immediately after conversion, units as condominiums were selling at 160% of co-op values. The increase in value was a net figure since there was no underly- ing mortgage to payoff. As a co-op, some owners were unable to refinance or secure home equity loans since unit values remained low compared to the loan amount they needed. During the conversion, every owner had the opportunity to finance up to 95% of their unit’

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