Investor Presentations

BLUESTEM RESERVE
Yankton, SD

• 70 Units
• 19.4%-21.8% IRR
• 2.22x-2.44x Equity Multiple

ASPEN RIDGE RESERVE
Brandon, SD

(formerly a multi-phased project of 228 units, due to overwhelming demand it will be done in one phase)

• 145 Units
• 16.8%-19.6% IRR
• 1.67x-1.78x Equity Multiple

MAPLE ROCK RESERVE
Sioux Falls, SD

• 164 Units
• 23.0% IRR
• 1.86x Equity Multiple

JEFFERSON RESERVE
Sioux Falls, SD

• 180 Units
• 17.2%-17.6% IRR
• 1.81x-1.84x Equity Multiple

BRIARWOOD RESERVE
Sioux Falls, SD

• 144 Units
• 17.9%-18.3% IRR
• 1.84x-1.86x Equity Multiple

MONARCH VILLAS
Sandy Springs, GA

• 130 Units
• 15.2%-15.7% IRR
• 5.7%-5.9% Cash-on-cash
• 1.9x-2.0x Equity Multiple

THE VELTHUIS
Sioux Falls, SD

(formerly Rolling Green)

• 144 Units
• 20.7%-21.2% IRR
• 1.96x-1.99x Equity Multiple

LANGLEY PLACE
Decatur, GA

• 116 Units
• 15.2%-15.5% IRR
• 6.6%-6.7% Cash-on-cash
• 1.92x-1.94x Equity Multiple

EASTWOOD OAKS
Hilliard, FL

• 104 Units
• 15.3%-15.9% IRR
• 6.7%-8.0% Cash-on-cash
• 1.90x-1.93x Equity Multiple

PINES OF LANIER
Gainesville, GA

• 157 Units
• 15.0%-15.6% IRR
• 6.7%-8.1% Cash-on-cash
• 1.87x-1.90x Equity Multiple

BLU ON LORRAINE
Sioux Falls, SD

• 128 Units
• 17.5%-20% IRR
• 9.5%-10.5% Cash-on-cash
• 2.1x-2.3x Equity Multiple

LOFTS AT EDEN
Sanford, FL

• 175 Units
• 14%-18% IRR
• 6%-9% Cash-on-cash
• 1.8x-2.1x Equity Multiple

BRIGHTON FARMS
Newnan, GA

• 134 Units
• 15.2% IRR
• 8.2% Cash-on-cash
• 1.9x Equity Multiple
• 17.6% AAR

EQUINOX AT KNIGHT
Fayetteville, GA

(formerly Weatherly Walk)

• 194 Units
• 15.6% IRR
• 8.5% Cash-on-cash
• 1.9x Equity Multiple
• 18.0% AAR

LAKEWOOD OAKS
Jacksonville, FL

(formerly San Jose Apartments)

• 138 Units
• 16.9% IRR
• 8.6% Cash-on-cash
• 2.0x Equity Multiple
• 19.6% AAR