And its normally done that way in strong rental markets like the bay area so most of the potenal renters are use to that anyway .I predict the Sacramento rental market will change alot this year and in the next 3 to 5 years along with the rising home prices and low inventory on avalible homes to purchase.Sacramento rental market may get some growing pains. 

An interesting observation to me is that the future performance of the real estate portfolio is likely more predictable than the equities (funds) portfolio.  

But predicting?

Look at the dotcom bust in early 2000s: stocks take a nosedive and real estate shrugs and moves on.In this particular case, if I had to guess based on the root causes, I'd predict weakness in real estate markets heavily dependent on oil (especially those small towns that only exist for oil jobs) and maybe some weakness in gateway cities (LA, SF, NYC) as Chinese investors pull out of projects.

If I could predict where Apple/Google was going to build its next campus, I'd be buying everything in sight too.

I can not predict the future any better than the weather man.  

I predict you are literally being robbed by an unscrupulous company.

As for a estimate as others have stated would be hard to predict.

I don't, and I don't have any interest in developing them- it sounds like a drag to me.But it seems to me that you are offering a potentially plausible, but hardly predictable and repeatable, scenario. 

The project is predicted to be completed in 5 to 8 years I believe.