The Landing OM

THE LANDING AT M E A D O W V I E W

LEAD AGENTS JORDAN DICKMAN

First Vice President Investments Cincinnati Office D. 513.878.7735 jordan.dickman@marcusmillichap.com

NICK ANDREWS

First Vice President Investments Cincinnati Office D. 513.878.7741 nicholas.andrews@marcusmillichap.com

AUSTIN SUM

Senior Associate Cincinnati Office D. 513.878.7747 austin.sum@marcusmillichap.com

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YOUR TEAM

CORPORATE SUPPORT

JO R D A N D I C K M A N

LIZ P OP P

FIRST VICE PRE S I DE NTS DI RE CTO R, N M H G

NIC K A ND R E WS FIRST VICE PRE S I DE NTS DI RE CTO R, N M H G

M IDW E S T OPE R A T I O N S M A N A GE R

JOSH CARU AN A

VIC E PR E S IDE N T R E G ION AL M AN A GE R IN DIAN APOL IS | C I N C I N N A T I | L O UI S V I L L E |

A US T I N S U M

S T L OU IS | KA N S A S C I T Y

S E N IOR IN VESTM E NT AS S O CI ATE

JOH N SE BREE

BR I A N J OH N S T O N IN V ESTMEN T AS S O CI ATE

A US T I N H AL L

S E N IOR VIC E P R E S I D E N T N ATION AL DIR E C T O R N ATION AL M U L T I HO US I N G GR O UP

MICH AE L GLASS

IN V ESTMEN T AS S O CI ATE

S E N IOR VIC E P R E S I D E N T M IDW E S T D IVI S I O N M A N A GE R N ATION AL DIR E C T O R , M A N UFA C T UR E D

A L D EN S I MM S

H OM E C OM M UN I T I E S GR O UP

IN V ESTMEN T AS S O CI ATE

BROKER SUPPORT S A M PET R O S N I O

VA LU A T ION & RE S E ARCH

S KYL ER W IL S O N

CLIEN T RELA T I O NS MANAGE R

BRITTANY CAMPBELL-KOCH DIR E C TOR OF O P E R A T I O N S

ALE X P AP A

M AR KE TIN G C O O R D I N A T O R

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AB T R AC K R E C O R D

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T R AC K R E C O R D AB Contracting, Inc. is West Virginia’s premier multi-family developer. We are your source for residential, commercial, and industrial structures. We have been building custom homes and businesses throughout West Virginia and Ohio for over 30 years. Our experience is evident in each job we undertake. The AB Contracting Team brings their knowledge and skill to each job. We strive to provide each customer with a quality product and exceptional customer service.

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CURRENT COMMUNITIES

THE LANDING AT MEADOW VIEW BRIDGEPORT, WV PAGE 11

900 ON LEE CHARLESTON, WV PAGE 6

HIGHLAND PARK TRIADELPHIA, WV PAGE 7

THE DISTILLERY ASHEVILLE, OH PAGE 8

SUGAR MAPLE RIDGE MORGANTOWN, WV PAGE 9

THE BEND AT MEADOW VALLEY HURRICANE, WV PAGE 10

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900 ON LEE

900 on Lee is located in Charleston, West Virgina. 900 on Lee unveils an exceptional portrait of living with 1- and 2-bedroom apartment units for rent. This unique fusion of style and sophistication, makes the apartment residences reflect contemporary flair. When residences live at 900 on Lee, their address says it all.

65 | UNITS 2022 | YEAR BUILT CHARLESTON | WEST VIRIGNIA 8

H I G H L A N D PA R K Overlooking West Virginia’s beautiful and majestic mountains, Highland Park offers one and two bedroom luxury apartments for rent as well as three bedroom townhomes for rent. It is conveniently located near shopping and dining off of exit 10 in the Triadelphia – Wheeling West Virginia area. Whether you’re an outdoor enthusiast, busy professional or empty nester, Highland Park has something to fit your lifestyle! Highland Park features a clubhouse equipped with a 24-hour fitness center and a community room, an outdoor pool for those hot summer days, children’s playground area with grill stations, and a half basketball court with Versa Court technology.

AMENITIES CLUBHOUSE COMMUNITY ROOM PLAYGROUND FIRE PIT AREA HALF BASKETBALL COURT FITNESS CENTER SWIMMING POOL GRILLING STATIONS WALKING TRAILS

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T H E D I S T I L L E RY

The Distillery is the newest luxury community located in Asheville, Ohio. Offering 1-, 2- and 3-bedroom floor plans. At The Distillery, apartments are designed to meet your lifestyle needs. The Distillery offers exceptional amenities including a clubhouse that features a fitness room, movie theater, lounge area, and an outdoor swimming pool with a splash pad. It is one of the few pet-friendly communities in the area that not only cater to residents, but to their pets as well. If it is swimming, working out, playing a game of pickle ball, having coffee, or enjoying a community event, you can do it here.

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SUGAR MAPLE RIDGE Sugar Maple Ridge offers multiple floorplan to suit a variety of styles and needs. Detached homes, one level living, patio homes and townhomes! Quality finishes, granite counters, and stainless steel appliances come standard in every home.

2022 | YEAR BUILT MORGANTOWN | WEST VIRIGNIA

AMENITIES FITNESS CENTER YOGA & BOXING STUDIO HEATED SALTWATER POOL PLAYGROUND FIRE PIT GAZEBO CLUBHOUSE BASKETBALL COURT WALKING TRAILS

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B E N D AT M E A D O W VA L L E Y

Rustic and Chic, This Patio and Townhome Community has open floor plan options, select customizations and main level owners suites.

55 STEVE CIRCLE HURRICANE, WEST VIRGINIA

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THE LANDING | SUBJECT Offering 1- and 2-bedroom floor plans. At The Landing, its brought all to you with apartments designed to meet your lifestyle needs. The Landing offers exceptional amenities including a clubhouse that features a fitness room, pickle ball court, lounge area, and an outdoor swimming pool. It is one of the few pet-friendly communities in the area that not only cater to their residents, but to residences pets as well. If it is swimming, working out, playing a game of pickle ball, having coffee, or enjoying a community event, you can do it here.

AMENITIES CLUBHOUSE FIRE PIT PLAYGROUND FITNESS CENTER POOL CONFERENCE ROOM LOUNGE MAIL ROOM 13

84 SILVER MAPLE RDG, CHARLESTON, WV 549 UNITS BUILT MAY 2013 SOLD 2022

E AG L E V I E W L U X U RY A PA R T M E N T S

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117 SASSAFRAS WY BRIDGEPORT, WV 256 UNITS FEATURES 1- 2- & 3- BEDROOMS SOLD 2023

M E A D OW CREEK

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SALE COMP Units

200

Occ at Sale

99.9%

Sale Price

$43.89M

Price per Unit

$219,443

Sale Date

March 24, 2023

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380 Richard Harrison Way, Morgantown, WV 250 UNITS BUILT 2018 SOLD 2021

B L AC K B E A R V I L L AG E

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SALE COMP Units

250

Occ at Sale

99.0%

Sale Price

$54.34M

Price per Unit

$217,352

Sale Date

June 9, 2021

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THE ASSET

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THE LANDING Offering 1- and 2-bedroom floor plans. At The Landing, apartments are designed to meet your lifestyle needs. The Landing offers exceptional amenities including a clubhouse that features a fitness room, pickle ball court, lounge area, and an outdoor swimming pool. We are one of the few pet-friendly communities in the area that not only cater to our residents, but to their pets as well. If it is swimming, working out, playing a game of pickle ball, having coffee, or enjoying a community event, you can do it here.

FEEL AT HOME Live the way you’ve always wanted without compromising style or quality. At The Landing at Meadow View, our apartment residences are designed with you in mind. Now you really can have it all . . . lifestyle included.

102 BLOOMFIELD LANE BRIDGEPORT, WV 26330

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FLOORPLANS UNIT TYPE 1BR/1BA 1BR/1BA EXECUTIVE LEASE TOTAL

NO. OF UNITS 51 5 56

RENTABLE SQFT 800 800 800

TOTAL SF 40,800 4,000 44,800

2BR/1BA 2BR/1BA EXECUTIVE LEASE TOTAL

51 5 56

1,000 1,000 1,000

51,000 5,000 56,000

1BR/1BA

UNIT DISTRIBUTION

TWO BEDROOM

2BR/1BA

24 THE ALPHA

ONE BEDROOM

THE TANGO

EXCEPTIONAL AMENITIES Access to Clubhouse Community Lounge Fitness Center Swimming Pool Pickle Ball Court Fire Pit Picnic Area with Gas Grill Mail Room Playground

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THE ALPHA 1-BED 1 BA 1-BED 1 BA - EXECUTIVE LEASE AVERAGES

UNITS 51 5

SQFT 800 800 900

RENT $1,425 $2,750 $2,087

RENT/SF $1.78 $3.44 $2.61

UNIT FEATURES •

STAINLESS STEEL APPLIANCES

•

GRANTIE COUNTERTOPS

•

WALK-IN CLOSETS

•

MODERN LIGHT FIXTURES

•

LVP FLOORING

•

BALCONY

LEARN MORE.

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THE TA N G O 2-BED 1 BA 2-BED 1 BA - EXECUTIVE LEASE AVERAGES

UNITS 51 5

SQFT 1,000 1,000 1,000

RENT $1,675 $3,250 $2,462

RENT/SF $1.68 $3.25 $2.47

UNIT FEATURES

LEARN MORE.

•

STAINLESS STEEL APPLIANCES

•

GRANTIE COUNTERTOPS

•

WALK-IN CLOSETS

•

MODERN LIGHT FIXTURES

•

LVP FLOORING

•

BALCONY

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THE COMPETITION

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L O C A L R E N TA L C O M P E T I T O R S U M M A RY

BLACK BEAR VILLAGE

GRAYCLIFF TOWNHOMES

WHISPER CREEK APARTMENTS

Your home, your way. The vibe is fresh – with market-leading amenities delivering calm, cool, and connectedness. Discover what your bold, new life looks like at Black Bear.

They have the largest rental townhomes in all of Morgantown with homes offering game rooms, family rooms, two car garages, open floorpans, multiple storage closets, master bedrooms, double vanities, bonus rooms, and much more.

Whisper Creek Luxury Apartments and Townhomes are the perfect blend of country and city, serene and busy, luxury and leisure, and accessibility and privacy.

L O C AT I O N GRAYCLIFF TOWNHOMES 76 UNITS

LOCAL COMPETITORS Understanding real estate comparables and the state of the market in your local area is essential. It can help you make an informed decision about buying or selling a property.

BLACK BEAR VILLAGE 250 UNITS

WHISPER CREEK 88 UNITS

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B L AC K B E A R V I L L AG E 380 Richard Harrison Way, Morgantown, WV 26501

UNITS YEAR BUILT OCCUPANCY UNIT MIX ONE BEDROOM

UNITS 157

SQFT 694

RENT $1,320

250 2019 91.9% RENT/SF $1.90

TWO BEDROOM

93

867

$1,508

$1.74

UNIT FEATURES • Brand New Contemporary Design • Over Size Walkin Closets • Washer & Dryer In Unit • Private Patio/Balcony • Full Kitchens • New Cabinetry UTILITIES • Resident Pays Electricity • Resident Pays Sewer • Resident Pays Trash Removal • Resident Pays Water

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FEATURED AMENITIES • 24/7 Fitness center • Heated, salt water pool • Golf simulator • Dog park & pet station • Clubhouse lounge • 24-HR emergency service • Half basketball court • Electric car charging lot

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G R AYC L I F F T OW N H OM E S 522 Black Stone Dr, Morgantown, WV 26508

UNITS YEAR BUILT OCCUPANCY UNIT MIX TWO BEDROOM

UNITS 22

SQFT 1230

RENT $1,410

130 2008 95.4% RENT/SF $1.15

THREE BEDROOM

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2524

$1,727

$0.68

FOUR BEDROOM

54

2992

$2,165

$0.72

UNIT FEATURES • Cable Ready • Large Bedrooms • Hardwood Floors UTILITIES • Resident pays electricity • Resident pays gas • Resident pays sewer • Resident pays trash • Resident pays water

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FEATURED AMENITIES • 24-Hour Access • Maintence on Site • Pool • Firepit • Club House

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WHISPER CREEK A PA R T M E N T S 501 Mill Creek Drive, Morgantown, WV 26508

UNITS YEAR BUILT OCCUPANCY UNIT MIX ONE BEDROOM

UNITS 30

SQFT 910

RENT $1,045

88 2015 100.0% RENT/SF $1.15

TWO BEDROOM

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1060

$1,310

$1.24

THREE BEDROOM

20

1540

$1,735

$1.13

UNIT FEATURES • Air Conditioning • Balcony • Cable Ready • Fireplace UTILITIES • Resident pays electricity • Resident pays gas • Resident pays sewer • Resident pays trash • Resident pays water

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FEATURED AMENITIES • Clubhouse • Fitness Center • Game Room • Gated • Laundry Facilities

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THE MARKET

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ECONOMIC DRIVERS “USA Today ranked Bridgeport, West Virginia, as one of the 50 best cities to live in.

WVU NURSING

Bridgeport was ranked at number 16 in the report.

USA Today says they use statistics from the U.S. Census Bureau, the FBI and other sources to identify the best cities to live in.

According to the report, about 50 percent of adult 25 and older have graduated from college, the median household income is around $82,000 a year and goods and services are about 15 percent less expensive than they are nationwide. The economy of Bridgeport, WV employs 4.44k people. The largest industries in Bridgeport, WV are Health Care & Social Assistance (875 people), Educational Services (691 people), and Public Administration (575 people), and the highest paying industries are Agriculture, Forestry, Fishing & Hunting, & Mining ($128,382), Mining, Quarrying, & Oil & Gas Extraction ($101,250), and Manufacturing ($82,438).”

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SPORTS COMPLEX

COUNTRY CLUB

THE THRASHER GROUP INC

WVU SCHOOL OF NURSING

CHARLES POINTE

COUNTRY CLUB BRIDGE SPORTS COMPLEX

LODGEVILLE ESTATES EXPANSION AEROSPACE INDUSTRY SECTOR

BRIDGEPORT

Distance from Bridgeport Population Median Age Poverty Rate Median Household Income Median Property Value

Bridgeport

Clarksburg

Morgantown

Fairmont

0 8,675 45.2 4.82% $84,295 $229,500

4.6 miles 93,500 42.8 15.6% $51,552.00 $116,200.00

36 miles 139,157 34.2 19.5% $52,332.00 $170,600.00

18 miles 56,233 41 15.5% $52,856 $122,700

POPULATION | 102,175 CLARKSBURG

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BRIDGEP

PORT

BRIDGEPORT, W E S T V I RG I N I A $84,295 HH INCOME $229,550 MEDIAN PROPERTY VALUE $341,490 MEDIAN LIST PRICE 102,175 POPULATION +21.0% POPULATION CHANGE (SINCE 2001)

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DEMOGRAPHICS

4 5 MEDIAN AGE $ 1 4 , 2 0 8 AVERAGE ANNUAL RENT PER HOUSEHOLD $ 1 0 8 , 3 3 6 AVERAGE HOUSEHOLD INCOME $ 3 5 0 , 0 0 0 AVERAGE HOME VALUE AVERAGE HH INCOME IS 5.933X THE AVERAGE ANNUAL RENT

ANNUAL RENT

MEDIAN RENT

$14,208

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12K

20K

5.933X 40K

60K

80K

100K

AV E R AG E HOUSEHOLD INCOME

The graph below represents the 2020 average household income by MSAs. Home values in Bridgeport, WV are 2.72 times the average household income, where the property is located.

Showing that it is more expensive to live in Bridgeport, thus driving a strong local renter demand.

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ECONOMY & R E TA I L THE LANDING

ADDITIONAL RETAIL WITHIN MAP RETAIL

DISTANCE

SHEETZ DOLLAR GENERAL ANYTIME FITNESS STAPLES ARBYS FAMILY DOLLAR SUBWAY GAMESTOP KFC

1.9 MILES 7.1 MILES 7.1 MILES 9.0 MILES 8.8 MILES 10 MILES 9.9 MILES 8.9 MILES 7.2 MILES

MICHAELS WALGREENS PAPA JOHNS

7.4 MILES 6.9 MILES 6.9 MILES

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BRIDGEPORT EMPLOYMENT BRIDGEPORT CAMPUS (WVU UNITED HOSPITAL CENTER) • 316 observation rooms • Over 2,500 employees including 381 Physicians • The total annual payroll is $105M MITSUBISHI HEAVY INDUSTIRES (REGIONAL JETS) Expanding its presence at North Central West Virginia Airport with the construction of two new hangars totaling more than 100,000 square feet. The $19.1 million project could bring as many as 800 jobs to the area, including 300 positions during the construction phase, according to company officials.

ALLEGHENY SCIENCE & TECHNOLOGY AST focuses on applying its core capabilities to overcome challenges in the critical areas of energy, environment, national security, and defense. They have 107 employees and an annual revenue of $12.0M FUSION TECHNOLOGY Fusion Technology deploys state-of-the-art fusion technology to solve global problems as a scalable path to practical fusion energy. They have 180 employees and annual revenue of $8.5M FBI | 2,500 EMPLOYEES Criminal Justice Information Services (CJIS) is a high-tech hub in the hills of West Virginia that provides a range of state of-the-art tools and services to law enforcement, national security and intelligence community partners, and the general public. They provide Identity history summary checks, uniform crime reporting program, national instant criminal background check system.

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ALLEGHENY TECHNOLOGY CORP 107 EMPLOYEES

FBI CENTER FUSION TECHNOLOGY

2,500 EMPLOYEES

180 EMPLOYEES

MEADOWBROOK MALL 75+ STORES

COUNTRY CLUB BRIDGEPORT SPORTS COMPLEX 150+ EMPLOYEES | 6,000+ MEMBERS

AURORA FLIGHT SCINECE WV 468 EMPLOYEES

NORTH CENTRAL WV AIRPORT 21,154 FLIGHTS | 43,0000+ PASSENGERS PER YEAR

BRIDGEPORT

BRIDGEPORT

304 CHAPEL BROOK DR, BRIDGEPORT, WV BRIDGEPORT, WV | $2,499,999

43 DAVID DANIELS DR, FAIRMONT, WV BRIDGEPORT, WV | $749,900

82 TURQUIOSE WAY, BRIDGEPORT, WV BRIDGEPORT, WV | $649,900

48 TURQUIOSE WAY, BRIDGEPORT, WV BRIDGEPORT, WV | $625,000

362 KELLEY DR, BRIDGEPORT, WV BRIDGEPORT, WV | $600,000

324 LEXINGTON CIR, BRIDGEPORT, WV BRIDGEPORT, WV | $549,990

L O C A L H O M E VA L U E S

A 500k-1.2million

E

B 150-300k C 200-750k D 200-590k E 80-500k

A

F 220-535k

C

G 220-750k H 400-1.5million

B D G

I

400-700k

I F

H 53

THE DEVELOPMENTS

05

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W E S T V I RG I N I A UNIVERSITY WEST VIRGINIA UNIVERSITY SCHOOL OF NURSING West Virginia University School of Nursing and W VU Medicine United Hospital Center held a ribbon cutting ceremony Oct. 4 in conjunction with the Harrison County Chamber of Commerce to showcase the new School of Nursing campus at Bridgeport.

In the unique partnership, the newest School of Nursing campus offers the fast-track BS/ BA to BSN nursing program, alongside state-of-the art classrooms and skills labs just steps away from the clinical facility. United Hospital Center contributed $100,000 toward furnishings and equipment for the new School of Nursing Bridgeport Campus. “ With this program, we can train nurses faster,” shared Tara Hulsey, Dean and E. Jane Martin Endowed Professor. “ The hospital was already expanding, so the timing was perfect for us to bring the fast-track program to a setting where there was a need.”

The new space in Bridgeport is both practical and beautiful, with natural light filling the classrooms and views of the mountains seen from the conference rooms and student lounge. “ The addition of the W VU School of Nursing to the UHC campus provides a unique opportunity for collaboration, enabling the school to produce dedicated and compassionate nurses ready to meet the evolving healthcare challenges of tomorrow,” said David F. Hess, M.D., president and CEO of UHC. “ We cannot unilaterally solve nursing shortages, but together, we are uniquely positioned to meet the demands of our region and state.”

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27,367 Student Enrollment

55 Graduate Degrees

216 Undergraduate Degrees

85% Acceptance Rate

THE

#1 IN WEST VIRGINIA ENR Top Firms by Market Sector 2017

THRASHER

#31 IN MID-ATLANTIC ENR Mid-Atlantic Top Design Firms 2017

G RO U P

#77 IN US & CANADA 2016 Top 100 Hot Firm List – Zweig Group

THRASHER QUALITY They’re a team of architecture, engineering, and survey consultants with the experience, integrity, and versatility to get the job done. They plan, design, contract, and manage your project… overseeing everything, or helping with a small portion… all while keeping your end goals in mind.

They can evaluate existing building conditions and potential sites to determine the best use of available land, get survey data, and utilize GIS base mapping. They create architectural and engineering designs – using advanced technology – and consider environmental aspects as well as conduct materials testing.

In 2014, the Thrasher Group won an RFP for engineering services related to 60 commercial acres located adjacent to the new interstate interchange project in Morgantown, WV. From our earliest meetings it became clear that the Thrasher Group was a motivated partner, and would apply any and all resources towards meeting our aggressive timelines while still delivering a great product. Candidly, it was refreshing to have a designer aggressively pushing us for information and decisions to ensure that we met our goals.

President Dr. Maria C. Rose Fairmont State University

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Five Diamond West Virginia Chamber Employer

Thrasher Program Vehicle Donation

6,000+ Members 40+ Annual Sporting Tournaments 10,000 Participants, not including spectators

BRIDGEPORT SPORTS COMPLEX Our indoor turf field contains nearly 3,500 square feet of playing field for year-round sports. Two retractable batting cages complete with pitching machines are located on the indoor turf for batting practice. Our turf, which can be split in half or into quadrants, contains field markings for soccer, football, lacrosse, and baseball with a digital scoreboard. The indoor turf is utilized by leagues, camps, and tournaments, and is available for rentals.

The Bridge features two state of the art swimming pools: a 25-meter by 25-yard competition pool and a 25-yard recreational warmup pool. Bleachers for spectating are located inside the pool area, and concessions are located nearby. Members of The Bridge can access the pools during designated lap swimming hours or recreational family open swim hours.

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B R I D G E P O R T C O U N T RY C L U B Bridgeport Country Club is the place to be for you and your family! New modernized greens within a very well-maintained golf course that is always green and challenging. A large, gorgeous pool that offers stone water features, six full 25-meter lanes for our swim team, diving board, a slide, kiddie pool with water fountain and more...

OTHER DEVELOPMENTS Heading into the final week of February, Bridgeport had seen $29.4 million in activity in building permits filed Projects range from heavy industrial, retail, commercial, and residential Meadowbrook Mall will undergo a complete makeover to include the addition of a 151,000-square-foot, a total of an $8 million build-out The industrial portion of expansion is led by the North Central West Virginia Airport (CKB) and the Aerotech Business Park, which have an estimated annual economic impact of $1 billion. The airport is home to a passenger terminal, expanding aviation training programs, and a host of support businesses.

THE LODGEVILLE ESTATES EXPANSION PROJECT The entire project to be in the range between $4-5 million 10.71 acre parcel of land for up to 96 potential apartment units

AEROSPACE INDUSTRY CONTINUES TO GROW This new building extension adds 48,000 square feet, doubling the current manufacturing capacity and capabilities.

The Aurora Flight Sciences building expansion will bring more aerospace jobs to north central West Virginia.

Aurora delivers innovations across aircraft configurations, autonomous systems, propulsion technologies, and manufacturing processes. For over 30 years, Aurora has developed cutting-edge air vehicles and enabling technologies from concept to reality.

A division of Boeing, Aurora Flight Sciences specializes in a variety of manned and unmanned aircraft and satellite applications for military and commercial use. Aurora also has the contract to supply the next generation of the Virgin Galactic spaceplane, due to roll out in 2025.

D E V E L O P M E N T S S U M M A RY Name

Location

Value

Oakwood Estates at White Oaks New Menards at Charles Pointe Crossing Charles Pointe Crossing Expansion

Harrison County Bridgeport, WV Harrison County Bridgeport, WV Harrison County Bridgeport, WV

$10M+ $14.6M $91M

Mon Health Hospital Expansion Project for Lodgeville Estates

Harrison County Bridgeport, WV Harrison County Bridgeport, WV

$22.5M $4-5M

Aurora Flight Sciences

Harrison County Bridgeport, WV

Aurora Flight Sciences Start to the expansion project

Start Date

Delivery Q3 2024

Q2 2023 Q1 2023 Q3 2023 2026

Charles Point Crossing Expansion Conceptual artist renderings

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THE FINANCIALS

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THE LANDING UNIT MIX SUMMARY

AV E R A G E E F F E CT I V E UNIT TYPE

NO. OF UNITS

R E N TA B L E S F

T OTA L S F

RENT/UNIT

56 Units 56 Units 112 Units

800 SF 1,000 SF 900 SF

44,800 SF 56,000 SF 100,800 SF

$1,470.54 $1,742.86 $1,606.70

MARKET

RENT/SF

TOTA L R E N T P OT E N T I A L

RENT/UNIT

$1.84 $1.74 $1.79 SF

$82,350 $97,600 $179,950

$1,470.54 $1,742.86 $1,606.70

P R O J E CT E D

RENT/SF

TO TA L R E N T POTENTIAL

RENT/UNIT

RENT/SF

TO TA L R E N T POTENTIAL

$1.84 SF $1.74 SF $1.79 SF

$82,350 $97,600 $179,950

$1,543.30 $1,815.63 $1,679.46

$1.93 SF $1.82 SF $1.87 SF

$86,425 $101,675 $188,100

SUMMARY

One Bedroom Two Bedroom Totals / Wtd. Averages

UNIT DISTRIBUTION

UNIT RENTS

THE LANDING UNIT MIX SUMMARY

AV E R A G E E F F E CT I V E NO. OF UNITS

R E N TA B L E S F

T OTA L S F

RENT/UNIT

1BR/1BA 1BR/1BA - Executive Lease Totals / Wtd. Averages

51 Units 5 Units 56 Units

800 SF 800 SF 800 SF

40,800 SF 4,000 SF 44,800 SF

TWO BEDROOM 2BR/1BA 2BR/1BA - Executive Lease Totals / Wtd. Averages

51 Units 5 Units 56 Units

1,000 SF 1,000 SF 1,000 SF

51,000 SF 5,000 SF 56,000 SF

UNIT TYPE

MARKET

RENT/SF

TOTA L R E N T P OT E N T I A L

RENT/UNIT

$1,350.00 $2,700.00 $1,470.54

$1.69 SF $3.38 SF $1.84 SF

$68,850 $13,500 $82,350

$1,600.00 $3,200.00 $1,742.86

$1.60 SF $3.20 SF $1.74 SF

$81,600 $16,000 $97,600

P R O J E CT E D

RENT/SF

TO TA L R E N T POTENTIAL

RENT/UNIT

RENT/SF

TO TA L R E N T POTENTIAL

$1,350.00 $2,700.00 $1,470.54

$1.69 SF $3.38 SF $1.84 SF

$68,850 $13,500 $82,350

$1,425.00 $2,750.00 $1,543.30

$1.78 SF $3.44 SF $1.93 SF

$72,675 $13,750 $86,425

$1,600.00 $3,200.00 $1,742.86

$1.60 SF $3.20 SF $1.74 SF

$81,600 $16,000 $97,600

$1,675.00 $3,250.00 $1,815.63

$1.68 SF $3.25 SF $1.82 SF

$85,425 $16,250 $101,675

ONE BEDROOM

INCOME

GROSS POTENTIAL RENT All Units at Market Rent Gain (Loss) to Lease GROSS SCHEDULED RENT Other Income Pet Fee Income Application Fee Late Fee/Other Income

EXPENSE

THE LANDING

INCOME & EXPENSES

CURRENT

Total Other Income GROSS POTENTIAL INCOME Physical Vacancy Bad Debt EFFECTIVE GROSS INCOME NON-CONTROLLABLE Real Estate Taxes 2020 Taxes Paid Total Real Estate Taxes Insurance Utilities Electric Gas Water & Sewage Trash Removal Total Utilities Total Non-Controllable CONTROLLABLE Contract Services Snow Removal Landscaping/Grounds Pest Control Total Contract Services Repairs & Maintenance Marketing & Promotion On-Site Payroll Payroll Taxes & Benefits General & Administrative Management Fee Replacement & Reserves Total Controllable TOTAL EXPENSES NET OPERATING INCOME

$2,159,400 ($43,188) $2,116,212

YEAR 1 % of GPR Per Unit 19,280 2.00% (386) 18,895

$32,391 $26,992

1.53% 1.28%

289 241

$91,774 $2,207,986 ($105,811) ($21,162) $2,081,013

4.34%

$2,257,200 ($45,144) $2,212,056

% of GPR Per Unit 2.00%

5.00% 1.00% 92.00%

819 19,714 (945) (189) 18,580

$33,363 $27,802 $33,363 $94,527 $2,306,583 ($110,603) ($22,121) $2,173,860

5.00% 1.00% 92.00%

298 248 298 844 20,594 (988) (198) 19,409

$272,720 Auditor $272,720 $33,600

% of EGI 13.11% 13.11% 1.61%

Per Unit 2,435 2,435 300

$272,720 $272,720 $33,600

% of EGI 12.55% 12.55% 1.55%

Per Unit 2,435 2,435 300

$6,000 $0 $44,800 $5,600 $56,400 $362,720

0.29% 0.00% 2.15% 0.27% 2.71% 17.43%

54 0 400 50 504 3,239

$6,120 $0 $45,696 $5,712 $57,528 $363,848

0.28% 0.00% 2.10% 0.26% 2.65% 16.74%

55 0 408 51 514 3,249

$3,920 $11,200 $3,920 $19,040 $67,200 $8,400 $100,800 $11,200 $11,200 $78,038 $28,560 Note 1 $324,438 $687,158 $1,393,855

0.19% 0.54% 0.19% 0.91% 3.23% 0.40% 4.84% 0.54% 0.54% 3.75% 1.37% 15.59% 33.02% 66.98%

35 100 35 170 600 75 900 100 100 697 255 2,897 6,135 12,445

$3,920 $11,200 $3,920 $19,040 $67,200 $8,400 $100,800 $11,200 $11,200 $81,520 $29,131 $328,491 $692,339 $1,481,521

0.18% 0.52% 0.18% 0.88% 3.09% 0.39% 4.64% 0.52% 0.52% 3.75% 1.34% 15.11% 31.85% 68.15%

35 100 35 170 600 75 900 100 100 728 260 2,933 6,182 13,228

$32,391

1.53%

289

1.51% 1.26% 1.51% 4.27%

20,154 (403) 19,751

YEAR 2 $2,324,916 ($46,498) $2,278,418

UNDERWRITING NOTES

YEAR 3

% of GPR 2.00% 1.51% 1.26% 1.51% 4.27%

Per Unit

% of GPR

Per Unit

20,758 (415) 20,343

$2,394,663 ($47,893) $2,346,770 $35,395 $29,495 $35,395 $100,284 $2,447,054 ($117,339) ($23,468) $2,306,248

5.00% 1.00% 92.00%

316 263 316 895 21,849 (1,048) (210) 20,591

2.00% 1.51% 1.26% 1.51% 4.27%

21,381 (428) 20,953

$34,364 $28,636 $34,364 $97,363 $2,375,781 ($113,921) ($22,784) $2,239,076

5.00% 1.00% 92.00%

307 256 307 869 21,212 (1,017) (203) 19,992

$272,720 $272,720 $34,272

% of EGI 12.18% 12.18% 1.53%

Per Unit 2,435 2,435 306

$272,720 $272,720 $34,957

% of EGI 12.18% 12.18% 1.56%

Per Unit 2,435 2,435 312

$6,242 $0 $46,610 $5,826 $58,679 $365,671

0.28% 0.00% 2.08% 0.26% 2.62% 16.33%

56 0 416 52 524 3,265

$6,367 $0 $47,542 $5,943 $59,852 $367,530

0.28% 0.00% 2.12% 0.27% 2.67% 16.41%

57 0 424 53 534 3,282

$3,998 $11,424 $3,998 $19,421 $68,544 $8,568 $102,816 $11,424 $11,424 $83,965 $29,714 $335,876 $701,547 $1,537,529

0.18% 0.51% 0.18% 0.87% 3.06% 0.38% 4.59% 0.51% 0.51% 3.75% 1.33% 15.00% 31.33% 68.67%

36 102 36 173 612 77 918 102 102 750 265 2,999 6,264 13,728

$4,078 $11,652 $4,078 $19,809 $69,915 $8,739 $104,872 $11,652 $11,652 $86,484 $30,308 $343,433 $710,963 $1,595,285

0.18% 0.52% 0.18% 0.88% 3.12% 0.39% 4.68% 0.52% 0.52% 3.75% 1.35% 15.23% 31.75% 71.25%

36 104 36 177 624 78 936 104 104 750 271 3,044 6,348 14,244

#

NOTE

1

Replacement & Reserves: added based on market norm of $255 per unit per year

INCOME EXPENSE

THE LANDING

CASH FLOW

CURRENT

YR 1

YR 2

YR 3

YR 4

YR 5

YR 6

YR 7

YR 8

YR 9

YR 10

YE APR-2024

YE APR-2025

YE APR-2026

YE APR-2027

YE APR-2028

YE APR-2029

YE APR-2030

YE APR-2031

YE APR-2032

YE APR-2033

GROSS POTENTIAL RENT All Units at Market Rent Gain (Loss) to Lease GROSS SCHEDULED RENT Total Other Income

$2,159,400 ($43,188) $2,116,212 $91,774

$2,257,200 ($45,144) $2,212,056 $94,527

$2,324,916 ($46,498) $2,278,418 $97,363

$2,394,663 ($47,893) $2,346,770 $100,284

$2,466,503 ($49,330) $2,417,173 $102,290

$2,540,498 ($50,810) $2,489,689 $104,335

$2,616,713 ($52,334) $2,564,379 $106,422

$2,695,215 ($53,904) $2,641,311 $108,551

$2,776,071 ($55,521) $2,720,550 $110,722

$2,859,353 ($57,187) $2,802,166 $112,936

$2,945,134 ($58,903) $2,886,231 $115,195

GROSS POTENTIAL INCOME Physical Vacancy Bad Debt EFFECTIVE GROSS INCOME

$2,207,986 ($105,811) ($21,162) $2,081,013

$2,306,583 ($110,603) ($22,121) $2,173,860

$2,375,781 ($113,921) ($22,784) $2,239,076

$2,447,054 ($117,339) ($23,468) $2,306,248

$2,519,463 ($120,859) ($24,172) $2,374,433

$2,594,024 ($124,484) ($24,897) $2,444,643

$2,670,801 ($128,219) ($25,644) $2,516,939

$2,749,861 ($132,066) ($26,413) $2,591,382

$2,831,271 ($136,027) ($27,205) $2,668,038

$2,915,102 ($140,108) ($28,022) $2,746,972

$3,001,426 ($144,312) ($28,862) $2,828,252

Real Estate Taxes Insurance Utilities Contract Services Repairs & Maintenance Marketing & Promotion On-Site Payroll Payroll Taxes & Benefits General & Administrative Management Fee Replacement & Reserves TOTAL EXPENSES

$272,720 $33,600 $56,400 $19,040 $67,200 $8,400 $100,800 $11,200 $11,200 $78,038 $28,560 $687,158

$272,720 $33,600 $57,528 $19,040 $67,200 $8,400 $100,800 $11,200 $11,200 $81,520 $29,131 $692,339

$272,720 $34,272 $58,679 $19,421 $68,544 $8,568 $102,816 $11,424 $11,424 $83,965 $29,714 $701,547

$272,720 $34,957 $59,852 $19,809 $69,915 $8,739 $104,872 $11,652 $11,652 $86,484 $30,308 $710,963

$278,174 $35,657 $61,049 $20,205 $71,313 $8,914 $106,970 $11,886 $11,886 $89,041 $30,914 $726,009

$283,738 $36,370 $62,270 $20,610 $72,739 $9,092 $109,109 $12,123 $12,123 $91,674 $31,533 $741,381

$289,413 $37,097 $63,516 $21,022 $74,194 $9,274 $111,291 $12,366 $12,366 $94,385 $32,163 $757,087

$295,201 $37,839 $64,786 $21,442 $75,678 $9,460 $113,517 $12,613 $12,613 $97,177 $32,806 $773,132

$301,105 $38,596 $66,082 $21,871 $77,192 $9,649 $115,788 $12,865 $12,865 $100,051 $33,463 $789,526

$307,127 $39,368 $67,403 $22,308 $78,736 $9,842 $118,103 $13,123 $13,123 $103,011 $34,132 $806,276

$313,270 $40,155 $68,751 $22,755 $80,310 $10,039 $120,465 $13,385 $13,385 $106,059 $34,814 $823,389

NET OPERATING INCOME

$1,393,855

$1,481,521

$1,537,529

$1,595,285

$1,648,423

$1,703,261

$1,759,852

$1,818,250

$1,878,512

$1,940,697

$2,004,863

CASH FLOW PROJECTION GROWTH RATE ASSUMPTIONS YR 1

YR 2

YR 3

YR 4

YR 5

YR 6

YR 7

YR 8

YR 9

YR 10

4.53% 2.00% 3.00%

3.00% 2.00% 3.00%

3.00% 2.00% 3.00%

3.00% 2.00% 3.00%

3.00% 2.00% 3.00%

3.00% 2.00% 3.00%

3.00% 2.00% 3.00%

3.00% 2.00% 3.00%

3.00% 2.00% 3.00%

3.00% 2.00% 3.00%

3.75%

2.00% 3.75%

2.00% 3.75%

2.00% 3.75%

2.00% 3.75%

2.00% 3.75%

2.00% 3.75%

2.00% 3.75%

2.00% 3.75%

2.00% 3.75%

Income Gross Potential Rent (Loss) / Gain to Lease* Other Income Expenses Expenses Management Fee**

CASH FLOW PROJECTION GROWTH RATE ASSUMPTIONS Physical Vacancy Non-Revenue Units Bad Debt Concessions Allowance Total Economic Loss

YR 1

YR 2

YR 3

YR 4

YR 5

YR 6

YR 7

YR 8

YR 9

YR 10

5.00% 0.00% 1.00% 0.00% 6.00%

5.00% 0.00% 1.00% 0.00% 6.00%

5.00% 0.00% 1.00% 0.00% 6.00%

5.00% 0.00% 1.00% 0.00% 6.00%

5.00% 0.00% 1.00% 0.00% 6.00%

5.00% 0.00% 1.00% 0.00% 6.00%

5.00% 0.00% 1.00% 0.00% 6.00%

5.00% 0.00% 1.00% 0.00% 6.00%

5.00% 0.00% 1.00% 0.00% 6.00%

5.00% 0.00% 1.00% 0.00% 6.00%

*Calculated as a percentage of Gross Potential Rent | **Calculated as a percentage of Effective Gross Income

THE LANDING AT M E A D O W V I E W

Jordan Dickman

Nick Andrews

Austin Sum

First Vice President Investments Cincinnati Office D. 513.878.7735 jordan.dickman@marcusmillichap.com

First Vice President Investments Cincinnati Office D. 513.878.7741 nicholas.andrews@marcusmillichap.com

Senior Associate Cincinnati Office D. 513.878.7747 austin.sum@marcusmillichap.com