Highlights:

•  Development joint venture with TMG Partners and Regis Homes of Northern California

•  First phase of The Crossing, a 20-acre master-planned community developed by TMG Partners and Regis Homes that has transformed former U.S. Navy property in San Bruno, a city of approximately 40,000 residents on the densely populated San Francisco Peninsula

•  Hailed as San Bruno's “new downtown,” The Crossing will feature more than 1,000 residential units along with hotel, retail and restaurant space when fully developed

•  A five-story residential building that opened in October 2004 and was named one of the Market-Rate Residential Real Estate Deals of the Year by the San Francisco Business Times in March 2005

•  Construction financed through the sale of tax-exempt bonds issued by the Association of Bay Area Governments to facilitate the development of affordable housing; 20% of the apartments were designated for low-income residents

•  Also invested in the development of The Crossing’s Phase II (Paragon Luxury Apartments, a 185-unit market-rate and affordable apartment building) and Phase III (two buildings with market-rate rental apartments and for-sale residential condominiums), which are located on adjacent sites

•  Fully leased when sold in December 2005; Paragon was sold in March 2006 while still under construction; Phase III is currently under construction

• Meridian and Paragon are now collectively known as “Archstone San Bruno” (Click here to learn more about the renamed property)