UC | Xavier Portfolio by Jordan.Dickman

UC | XAVIER

SUBMITTED BY: 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

NON-ENDORSEMENT & DISCLAIMER NOTICE CONFIDENTIALITY DISCLAIMER THIS IS A BROKER PRICE OPINION OR COMPARATIVE MARKET ANALYSIS OF VALUE AND SHOULD NOT BE CONSIDERED AN APPRAISAL. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.

NON-ENDORSEMENT NOTICE Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

CONTENTS

B R O K E R C A PA B I L I T I E S

6 | U C | XAV IER

01 02

42 | LOCAL COMP E TITORS

74 | THE FIN ANC I ALS

82 | LOCAL M ARKE T

24 | SU BM ARKE T

O P I N I O N O F V A L U E

CALABASAS, CALIFORNIA | HQ

80+ | OFFICES

2,500 | EMPLOYEES

UNRIVALED SUCCESS IN THE MIDWEST Nick Andrews

First Vice President Investments Director, NMHG

Jordan Dickman

First Vice President Investments Director, NMHG

Austin Sum

Senior Investment Associate

INVESTMENT ADVISORS

JD Schmerge Investment Associate

Brian Johnston Investment Associate

Tim VanWingerden Investment Associate

DEBT & STRUCTURED FINANCE

Chris Litzler

Senior Director of Organization MMCC

VALUATION & RESEARCH

Sam Petrosino

Financial & Research Analyst

CLIENT RELATIONS

MARKETING

Alex Papa

Marketing Coordinator

Kristin Smith Marketing

Skyler Wilson

Client Relations Coordinator

OPERATIONS

Liz Popp

Brittany Campbell-Koch

Midwest Operations Manager

Director of Operations

Josh Caruana

Vice President Regional Manager Indianapolis | Cincinnati | Louisville St Louis | Kansas City

John Sebree

Senior Vice President National Director National Multi Housing Group

Michael Glass

Senior Vice President Midwest Division Manager National Director, Manufactured Home Communities Group

S E C T I O N

| XAVIER

UC | XAVIER

PROPERTY DETAILS

Property Address:

980 Dana Ave, Cincinnati, Ohio

UTILITIES

Property Address:

2013 Hopkins Ave, Cincinnati, OH

Year Built/Reno:

1920

Electric:

Number Of Units:

Avg Unit Size:

Resident Paid

Year Built/Reno:

1917

Electric:

Resident Paid

Gas:

Resident Paid

Number Of Units:

Gas:

Resident Paid

895 SqFt

Water/Sewer:

RUBS

Avg Unit Size:

1,193 SqFt

Water/Sewer:

RUBS

Rentable Sqft:

3,580 SqFt

Trash:

RUBS

Rentable Sqft:

3,580 SqFt

Trash:

RUBS

Number of Parcels:

Lot Size (Acres):

0.226

Lot Size (Acres):

0.161

# of Buildings:

Gas Heat

# of Buildings:

Gas Heat

# of Stories:

Central AC

# of Stories:

Central AC

Current Occupancy:

100%

Current Occupancy:

100.%

Market Rental :

100%

Market Rental :

100%

Student Rental:

HVAC

UTILITIES

HVAC

Property Address:

1922 Hopkins Ave. Cincinnati, OH

UTILITIES

Property Address:

974 Dana Ave, Cincinnati, OH

Year Built/Reno:

1930

Number Of Units:

Electric:

Resident Paid

Year Built/Reno:

1900

Electric:

Resident Paid

Gas:

Resident Paid

Number Of Units:

Gas:

Resident Paid

Avg Unit Size:

687 SqFt

Water/Sewer:

RUBS

Avg Unit Size:

849 SqFt

Water/Sewer:

RUBS

Rentable Sqft:

12,366 SqFt

Trash:

RUBS

Rentable Sqft:

5,094 SqFt

Trash:

RUBS

Number of Parcels:

Lot Size (Acres):

0.172

Lot Size (Acres):

0.275

# of Buildings:

Gas Heat Central AC

# of Buildings:

# of Stories:

Current Occupancy: 100% Market Rental :

78%

Student Rental:

22%

CAPEX All units were renovated. **SEE CAPEX SHEET IN DEAL VAULT FOR FULL LIST**

HVAC

# of Stories:

Boiler Heat

Current Occupancy:

100%

Window AC

Market Rental :

60%

Student Rental:

40%

UTILITIES

HVAC

UC | XAVIER

PROPERTY DETAILS

Property Address:

2582/84

UTILITIES

McMicken Ave, Cincinnati, OH

Property Address:

1029 Dana Ave

UTILITIES

Year Built/Reno:

1930

Electric:

Resident Paid

Submarket:

CUF

Electric:

Resident Paid

Number Of Units:

Gas:

Resident Paid

County:

Hamilton County

Gas:

Resident Paid

Avg Unit Size:

1,1163

Water/Sewer:

RUBS

Year Built/Reno:

1895

Water/Sewer:

RUBS

Rentable Sqft:

5,580 SqFt

Trash:

RUBS

Property Type :

Market/Student Housing

Trash:

RUBS

Number of Parcels:

Number Of Units:

Lot Size (Acres):

0.19

Avg Unit Size:

837 SqFt

# of Buildings:

Gas Heat

Rentable Sqft:

4,185 SqFt

# of Stories:

Central AC

Number of Parcels:

Current Occupancy:

100%

Lot Size (Acres):

0.05

Market Rental:

40%

# of Buildings:

Student Rental:

60%

# of Stories:

Current Occupancy:

CAPEX Demo all 10 units **SEE CAPEX SHEET IN DEAL VAULT FOR FULL LIST**

HVAC

Property Address:

46 Graham St, Cincinnati, OH

Property Address:

1029 Dana Ave, Cincinnati, OH

Year Built/Reno:

1917

Electric:

Resident Paid

Year Built/Reno:

1930

Electric:

Resident Paid

Number Of Units:

Gas:

Resident Paid

Number Of Units:

Gas:

Resident Paid

Avg Unit Size:

1,108 SqFt

Water/Sewer:

RUBS

Avg Unit Size:

1,003 SqFt

Water/Sewer:

RUBS

Rentable Sqft:

2,215 SqFt

Trash:

RUBS

Rentable Sqft:

5,015 SqFt

Trash:

RUBS

Number of Parcels:

Lot Size (Acres):

0.08

Lot Size (Acres):

0.203

# of Buildings:

Gas Heat

# of Stories:

Central AC

# of Buildings:

# of Stories:

Current Occupancy:

100%

Gas Heat

Market Rental:

40%

Central AC

Student Rental:

60%

Current Occupancy: 100% Market Rental:

Student Rental:

100%

UTILITIES

HVAC

UTILITIES

CAPEX **SEE CAPEX SHEET IN DEAL VAULT FOR FULL LIST**

HVAC

LOCATION 6

PORTFOLIO 1

2582 MCMICKEN AVE

2584 W MCMICKEN AVE

46 GRAHAM STREET

1025 DANA AVE

1922 HOPKINS AVE

974 DANA AVE

980 DANA AVE

2013 HOPKINS AVE

7 4

MASSIVE CAPITAL INFUSION

EXTENSIVE VALUE-ADD COMPLETED 1029 DANA

2582 MCMICKEN

Replaced gutters Replaced roof Tiled all bathrooms Unit 3 Bathroom Whole New Plumbing Waterproofed basement $61,378.36 Bought new appliances for 5 of 10 units Chimney and Roof Repairs Demo of all 10 units Fire Escape repairs and inspection Materials for flooring in all New glass windows and blinds Re-did all old plumbing with new plumbing Renovation Labor of all units Repair Gutters Replaced all apartment doors (front and back) and main entry doors Split electric between 2582 and 2584 McMicken buildings and run off own electric now $271,343.26

1922 HOPKINS

Bought new appliances for all 18 units (range and refrigerator) Deck Repairs Demo of all 18 units Installation of cabinetry in all Installing Steam Vents, Bath Fans, and Boiler Repair Labor to remove and re-lay flooring in 18 units Lumber, brackets, and screws for repairs Materials to re-do drywall New Blinds New Electric System in all units Painted entire inside of building Purchase of cabinetry for all Purchase of countertops for all Re-did all old plumbing with new plumbing Re-did drywall in all units Removing entry way doors and apartment doors Renovation Labor of all 18 units Replaced all apartment doors (front and back) and main entry doors Replacing all exterior and interior doors Tiled all bathrooms and entry ways Updated Fixtures in 18 Units Window AC Units for 12 units

$513,858.49

2584 MCMICKEN

2582 MCMICKEN

XAVIER

2013 HOPKINS

1922 HOPKINS

UC | XAVIER

980 DANA

1025 DANA

XAVIER

974 DANA

46 GRAHAM

S E C T I O N

SUBMAR

RKET: CLIFTON/CUF

CLIFTON/CUF

CONTINUOUSLY OUT PERFORMING THE MARKET Rare opportunity to purchase a bulk amount of Student Housing on The University of Cincinnati’s Campus in Cincinnati Ohio’s Clifton Submarket. The offering consists of 130 units equating out to 184 beds in some of the most iconic buildings Clifton has to offer. The properties are currently owned and managed by one of UC’s largest and one of its most reputable student housing operators. The units have been meticulously cared for and much of the historic preservation of the units has led to a highly sought after rental product. The portfolio has been 100% leased for the last 4 consecutive years showing the continuous strength year over year in the market.

OCCUPANCY RATE VS. MARKET

4th Overall 7.5% Growth POSITIVE RENTAL MARKET TRENDS Clifton is one of Cincinnati’s top rental markets within the I-275 Interstate. A stable submarket occupancy at 97.2% (Yardi Inc.). A strong sub-market supported with UC student population of nearly 50,000 students, 77% of which live off campus. Also within miles of the portfolio sits 3 of cinicnnati’s largest hospitals also creating a very aggressive rental market. Clifton sits with some of the highest rental rates across Cincinnati due to the aggressive amount of renters in such a small distance that continues to allow Clifton to stay at the top of the ranks in both occupancy and rental rates. An accolade that it has owned for a very long time and will not be giving up any time soon.

ONE BED RENT VS. MARKET

ONE BED RENT VS. MARKET 13TH RANK OUT OF 47 SUBMARKETS 4.75% Y-O-Y CHANGE

TWO BED RENT VS. MARKET

TWO BED RENT VS. MARKET 2ND RANK OUT OF 47 SUBMARKETS 8.8% Y-O-Y CHANGE

CLIFTON/CUF

UC ENROLLMENT 24,210 first-year students have applied to UC’s Uptown campus. That’s an increase of more than 1,850 applicants or 8% more than last year (the previous record). This news comes on the heels of UC announcing record enrollment for the eighth straight year in the fall when Bearcats numbered 46,798. Based on current numbers, UC officials expect to eclipse 48,000 in fall 2021. Jack Miner, UC’s vice provost for enrollment management, says UC’s popularity is even more remarkable given the COVID-19 pandemic and state and national trends where the majority of colleges and universities are experiencing significant enrollment declines. “Where others are struggling to maintain enrollment, it looks like we are going to be able to grow pretty significantly,” says

8% Increase from previous year 8th Straight Year of Record Enrollment

Miner. “We think we’re getting such a great application pool because of our strong academic profile, our phenomenal student life experiences and because people really love the idea of being on UC’s urban campus. We are doing all we can to ensure a healthier, safer and good experience in the fall.”

LOCAL SCHOOL COMPARISON

UNIVERSITY OF CINCINNATI - 39,263

MIAMI UNIVERSITY - 19,716 NORTHERN KENTUCKY UNIVERISTY - 15,664 XAVIER UNIVERSITY - 6,973 MOUNT ST. JOSEPH UNIVERSITY - 2,100

POISED FOR EXPONENTIAL GROWTH DEVELOPMENT PIPELINE 5 UC BUILDINGS 5 MEDICAL BUILDING UPGRADES 7 MIXED USE APARTMENT / STUDENT HOUSING

INVESTMENTS TOWARDS THESE DEVELOPMENTS... $422.5M UNIVERSITY OF CINCINNATI

$422.5M UNIVERSITY OF CINCINNATI $1.04B MEDICAL $1.078B MIXED USE 2.9 BILLION+ TOTAL INVESTMENTS

CLIFTON/CUF

UC DEVELOPMENT

NEW COLLEGE OF LAW

NEW UC ALUMNI CENTER

UC plans to convert the current College of Business building into the new home of the College of Law. The revitalization of the building would include larger classrooms and more open meeting spaces. Cost: $45.6M T: Q3, 2022

The University of Cincinnati is looking to find a new home for its alumni center. UC wants to use all or a portion of the existing former YMCA building on Calhoun Street to house a 30,000-square-foot space to house different alumni functions. Cost: $30M T: Proposed

CLIFTON COURT HALL

CALHOUN HALL

A 180,000-square-foot classroom building is planned where two modular structures currently stand at Clifton Avenue and Clifton Court Drive. It would include 24 classrooms and 230 faculty and staff offices. Cost: $93M T: Q3, 2022

The university plans a two-year, complete renovation of the residence hall. The 14-story high-rise residence hall, built in 1967, would remain a dormstyle housing facility. Cost: $80.4M T: Q4, 2022

CLIFTON/CUF

UC DEVELOPMENT

PROBASO AUDITORIUM

BIOMEDICAL SCIENCES RESEARCH FACILITY

An adaptive reuse project by UC Planning, Design + Construction that would turn the vacant Second Church of Christ Scientist building into an auditorium space seating more than 330. It would also house classroom space. Cost: $8.5M T: Q3, 2021

The University of Cincinnati plans to renovate the former coroner’s building into 35,000 square feet of research and lab space Cost: $11M T: Proposed Q3, 2022

VONTZ CENTER FOR MOLECULAR STUDIES

NEW OLD CHEM

UC is planning a renovation of the building, which was designed by acclaimed architect Frank Gehry. Work will include maintenance and wall, window, parapet and roofing upgrades to the unique building envelope. Cost: $17M T: Q3, 2021

UC is looking to renovate the campus’ original and historic 1917 portion of the Old Chemistry building and demolish the building’s 1930s-era addition, as well as construct a new lab wing in its place that will be connected to the 1917 building. Cost: $95M T: Q3, 2025

CLIFTON/CUF

UC DEVELOPMENT

HUB AT CINCINNATI

DISTRICT AT CLIFTON HEIGHTS

A 14-story student housing tower that will have 380 residences with a total of 980 beds and a small commercial space. Cost: T: 2024 Proposed

In addition to 1,000 beds of student housing planned on the north side of the street, Trinitas is making plans for the redevelopment of the former hospital. This could include retail, restaurants, a hotel, office spaces and other commercial uses in additional phases. Cost: $300M T: Proposed

HOLISTER COURT

TRU BY HILTON CORRYVILLE

Planned transformation of Hollister Recreation Area into Hollister Court, a project that includes a four-story apartment building atop a three-story parking garage and five, three-story townhomes. Cost: $60M T: 2024

A 117-room hotel would be built above a two-story parking garage, all while maintaining ground-level parking for Kroger. Cost: T: Proposed

CLIFTON/CUF

UC DEVELOPMENT

SHORTVINE MIXED-USE

CINCINNATI ZOO MASTER PLAN

A mixed-use and multifamily project that will add 27 apartments and commercial space. Cost: $8M T: 2022

The Cincinnati Zoo is planning a $150 million renovation that would provide space for more elephants and other animals, in part by shifting some surface parking to a new garage. Cost: $150M T: 2025

CROSLEY BUILDING

THE EDEN

A planned redevelopment of the former headquarters of Crosely Radio Corp. into 175 to 250 apartments. Cost: $50M T: Q3, 2024

A planned 207-unit apartment building that would include a mix of studios to four-bedroom apartments. Cost: $30M T: 2022

CLIFTON/CUF

INNOVATION CORRIDOR DEVELOPMENTS

THE NODE

A roughly 20-acre, urban, mixed-use development that would include office, research, hotel, retail, apartments and parking. The first phase will start with 130,000 square feet of research/office space, a 160-room class A hotel, 180 multifamily residential units and up to 10,000 square feet of retail and restaurant space. Cost: $500M T: Proposed

DREAM CAMPUS A mixed-use development that would combine faith, education, health innovation and technology in the spirit of Dr. Martin Luther King Jr. Cost: $40M T: Proposed

THE LOOP U Square is a LEED certified multi-use mid-rise covering two city blocks between McMillan and Calhoun streets across from the University of Cincinnati’s main campus. Our 161 upscale market rate apartments provide easy access to UC’s campus as well as the unique and lively Clifton area. U Square also features 40,000 square feet of University of Cincinnati office space and over 700 parking spaces in two parking garages on either side of our building. A lawn divides the two blocks of U Square providing some much needed green space in the busy Clifton Heights area. The green will be available for social, musical, cultural, and neighborhood events throughout the year.

CLIFTON/CUF

DEVELOPMENT - MEDICAL

GOOD SMARITAN HOSPITAL UPGRADES

UC MEDICAL CENTER UPGRADES

A $140 million, five-year master facility and modernization plan at Good Samaritan Hospital that will transform the campus. Cost: $140M T: Proposed

UC Health plans its largest construction project ever – hundreds of millions of dollars in upgrades to the flagship facility. Cost: $251M T: Q1, 2025

CINCINNATI CHILDREN’S CRITICAL CARE BUILDING Cincinnati Children’s Hospital Medical Center is building the 606,000-square-foot Critical Care Building on its campus in Avondale. Cost: $650M T: Q4, 2021

S E C T I O N

LOCAL C

COMPETITORS

XAVIER

R COMPETITORS

LOCAL COMPETITORS - XAVIER

3 5

REN T C OMPAR ABLE S 1

945 DANA

1750 CLENEAY AVE

1830 HOPKINS AVE

3833 WINDING WAY

810 N FRED SHUTTLESWORTH

4431 ALLISON CT

4 2

945 DANA AVE UNITS YEAR BUILT OCCUPANCY UNIT MIX One Bedroom

# OF UNITS SQFT 1 950

RENT $1,099

11 1900 98.8% RENT/SF $1.16

Two Bedroom

1200

$1,299

$1.08

Three Bedroom

1200

$1,395

$1.12

Apartment Interior Amenities Hardwood Floors Updated Kitchens Updated Bathrooms Common Area Amenities Unassigned Parking Utilities Responsibility Owner Paid Water Owner Paid Hea Owner Paid Trash Resident Paid Electric

1750 CLENEAY AVE Apartment Interior Amenities Air Conditioning Dishwasher LVP Flooring Updated Bathroom Common Area Amenities Unassigned Parking Utilities Responsibility Owner Paid Heat Owner Paid Water Owner Paid Sewer Owner Paid Trash Resident Paid Electricty

UNITS YEAR BUILT OCCUPANCY UNIT MIX Two Bedroom

# OF UNITS 11

SQFT 660

RENT $1,300

11 1965 95.7% RENT/SF $1.97

1830 HOPKINS AVE UNITS YEAR BUILT OCCUPANCY UNIT MIX One Bedroom

# OF UNITS SQFT 3 600

RENT $995

3 1896 75.0% RENT/SF $1.66

Apartment Interior Amenities Dishwasher Ceiling Fans Smoke Free Common Area Amenities Laundry Facilities Unassigned Parking Utilities Responsibility Owner Paid Gas Owner Paid Heat Owner Paid Water Owner Paid Sewer Owner Paid Trash

3833 WINDING WAY Apartment Interior Amenities Central Air Updated Kitchens Dishwasher Bamboo Floors Large Bathrooms Common Area Amenities Laundry Facilities Utilities Responsibility Owner Paid Sewer Owner Paid Trash Owner Paid Parking Resident Paid Electric

UNITS YEAR BUILT OCCUPANCY UNIT MIX Two Bedroom

# OF UNITS 4

SQFT 1050

RENT $1,295

4 1950 75.0% RENT/SF $1.23

810 N FRED SHUTTLESWORTH UNITS YEAR BUILT OCCUPANCY UNIT MIX One Bedroom

# OF UNITS SQFT 13 N/A

RENT N/A

25 1928 95.7% RENT/SF N/A

Two Bedroom

N/A

Three Bedroom

1200

$1,450.00

$1.21

Apartment Interior Amenities Air Conditioning Hardwood Floors High Speed Internet Access Washer/Dryer In Units Common Area Amenities Wheelchair Accesible Pets Allowed Utilities Responsibility Resident Paid Water Resident Paid Sewer Resident Paid Trash Resident Paid Electricity

4431 ALLISON STREET Apartment Interior Amenities Updated Bathrooms Balcony Updated Kitchen Common Area Amenities Pets Allowed Laundry Facilities Utilities Responsibility Resident Paid Electricity Resident Paid Gas Owner Paid Trash Owner Paid Water

UNITS YEAR BUILT OCCUPANCY UNIT MIX Three Bedroom

# OF UNITS 11

SQFT 1000

RENT $1,865

11 1900 95.7% RENT/SF $1.87

LOCAL COMPETITORS - ONE BEDROOM XAVIER

ONE BEDROOM Property 945 Dana Ave 1830 Hopkins Ave Subject Pro Forma Subject Average Effective

Year Built 1900 1896 Year Built Year Built

# Units 11 3 0 0

Avg SF 950 600 588 588

Avg Rent $1,099 $995 $878 $747

Avg Rent/SF $1.16 $1.66 $1.49 $1.27

LOCAL COMPETITORS - TWO BEDROOM XAVIER

TWO BEDROOM Property 3815 Winding Way 1750 Cleneay Ave 945 Dana Ave 3833 Windy Way Subject Pro Forma Subject Average Effective

Year Built 1917 1965 1900 1950 Year Built Year Built

# Units 4 11 11 4 0 0

Avg SF 1200 660 1200 1050 990 990

Avg Rent $1,350 $1,300 $1,299 $1,295 $1,173 $1,035

Avg Rent/SF $1.13 $1.97 $1.08 $1.23 $1.19 $1.05

LOCAL COMPETITORS - THIRD BEDROOM XAVIER

THREE BEDROOM Property 4431 Allison St 810 N Fred Shuttlesworth 945 Dana Ave Subject Pro Forma Subject Average Effective

Year Built 1900 1928 1900 Year Built Year Built

# Units 11 25 11 0 0

Avg SF 1000 1200 1200 1376 1376

Avg Rent $1,865 $1,450 $1,395 $1,235 $1,125

Avg Rent/SF $1.87 $1.21 $1.16 $0.90 $0.82

UC COM

MPETITORS

BELLEVUE HOUSE APTS UNITS YEAR BUILT OCCUPANCY UNIT MIX Studio

# OF UNITS SQFT 12 375

RENT $725

132 1965 98.5% RENT/SF $1.93

One Bedroom

625

$875

$1.40

Two Bedroom

950

$1,300

$1.37

Apartment Interior Amenities Air Conditioning Ceiling Fans Walk-in Closets Common Area Amenities Controlled Access Swimming Pool Eight Laundry Facilities Utilities Responsibility Owner Pays Electricity Owner Pays Gas Owner Pays Sewer Owner Pays Trash Removal Owner Pays Water

203 WEST MCMILLAN ST Apartment Interior Amenities Hardwood Floors Cable Ready High Speed Internet Access Common Area Amenities Unassigned Parking Utilities Responsibility Owner Paid Gas Owner Paid Water Owner Paid Sewer Owner Paid Electricity

UNITS YEAR BUILT OCCUPANCY UNIT MIX One Bedroom

# OF UNITS 3

SQFT 400

RENT $750

5 1927 60.0% RENT/SF $1.88

Two Bedroom

500

$1,400

$2.80

727 RIDDLE RD UNITS YEAR BUILT OCCUPANCY UNIT MIX Three Bedroom

# OF UNITS SQFT 1 985

RENT $1,450

1 1916 N/A RENT/SF $1.47

Apartment Interior Amenities Spacious Bedroom Granite Counters Renovated Kitchen Washer/Dryer Included Common Area Amenities Large Basement Utilities Responsibility Resident Paid Electricity Resident Paid Gas Resdient Paid Water Resdient Paid Sewer Owner Paid Trash

136 WARNER ST Apartment Interior Amenities Hardwood Floors Laundry in Unit Common Area Amenities Off-Street Parking Large Decks Utilities Responsibility Resident Paid Water Resident Paid Sewer Resident Paid Trash Resident Paid Electricity

UNITS YEAR BUILT OCCUPANCY UNIT MIX Three Bedroom

# OF UNITS 1

SQFT 1069

RENT $1,400

1 1931 N/A RENT/SF $1.31

14 WEST HOLLISTER ST UNITS YEAR BUILT OCCUPANCY UNIT MIX Three Bedroom

# OF UNITS SQFT 2 1200

RENT $1,500

2 1880 95.7% RENT/SF $1.16

Apartment Interior Amenities Large Living Room New Kitchen Washer/Dryer in Unit Central AC Utilities Responsibility Owner Paid Water Resident Paid Electricity Resident Paid Trash

REN T C OMPAR ABLE S 1

2312 OHIO AVE

203 WEST MCMILLIAN ST

727 MIDDLE RD

136 WARNER STREET

14 WEST HOLLISTER ST

2 5

LOCAL COMPETITORS - ONE BEDROOM UC

ONE BEDROOM Property Subject Pro Forma Bellevue House Apartments Subject Average Effective 203 W McMillan St

Year Built Year Built 1965 Year Built 1927

# Units 0 132 0 5

Avg SF 760 625 760 400

Avg Rent $885 $875 $849 $750

Avg Rent/SF $1.16 $1.40 $1.12 $1.88

LOCAL COMPETITORS - TWO BEDROOM UC

TWO BEDROOM Property 203 W McMillan St Bellevue House Apartments Subject Pro Forma Subject Average Effective

Year Built 1927 1965 Year Built Year Built

# Units 5 132 0 0

Avg SF 500 950 706 706

Avg Rent $1,400 $1,300 $925 $800

Avg Rent/SF $2.80 $1.37 $1.31 $1.13

LOCAL COMPETITORS - THIRD BEDROOM UC

THREE BEDROOM Property 14 W Hollister St Subject Pro Forma 727 Riddle Rd Subject Average Effective 136 Warner St

Year Built 1880 Year Built 1916 Year Built 1931

# Units 2 0 1 0 1

Avg SF 1200 1509 985 1509 1069

Avg Rent $1,500 $1,485 $1,450 $1,400 $1,400

Avg Rent/SF $1.25 $0.98 $1.47 $0.93 $1.31

S E C T I O N

THE FIN

NANCIALS

U C | XAV I E R - F I N A N C I A L S

UNIX MIX SUMMARY AV E R A G E E F F E C T I V E

MARKET

P RO J E CT E D

NO. OF UNITS

NO. OF BEDS

R E N TA B L E S F

T O TA L S F

RENT/UNIT

RENT/SF

T O TA L R E N T POTENTIAL

SUMMARY One Bedroom Two Bedroom Three Bedroom

34 Units 11 Units 9 Units

34 Beds 22 Beds 27 Beds

686 SF 977 SF 1,321 SF

23,322 SF 10,747 SF 11,886 SF

$791.36 $1,033.18 $1,233.00

$1.15 $1.06 $0.93

$26,906 $11,365 $11,097

$811.09 $1,090.36 $1,276.67

$1.18 SF $1.12 SF $0.97 SF

$27,577 $11,994 $11,490

$889.41 $1,200.45 $1,340.56

$1.30 SF $1.23 SF $1.02 SF

$30,240 $13,205 $12,065

Totals / Wtd. Averages

54 Units

83 Beds

851 SF

45,955 SF

$914.22

$1.07 SF

$49,368

$945.57

$1.11 SF

$51,061

$1,027.96

$1.21 SF

$55,510

UNIT TYPE

RENT/UNIT

UNIT DISTRIBUTION

RENT/SF

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

RENT/UNIT

RENT/SF

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

UNIT RENTS

17%

20% 63%

One Bedroom Two Bedroom

1 Bed

Three Bedroom

Avg. Effective

2 Bed

3 Bed

Pro Forma Projection

U C | XAV I E R - F I N A N C I A L S

UNIX MIX BREAKDOWN

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

MARKET

PROJECTED

N O . O F U N I TS

NO. OF BEDS

R E N TA B L E S F

T O TA L S F

RENT/UNIT

RENT/SF

T O TA L R E N T POTENTIAL

ONE BEDROOM 1BR/1BA - 1025 Dana 1BR/1BA - 974 Dana 1BR/1BA - 1922 Hopkins Ave 1BR/1BA - 2013 Hopkins Ave 1BR/1BA - 2582 McMicken 1BR/1BA - 2584 McMicken Totals / Wtd. Averages

2 Units 1 Units 18 Units 3 Units 5 Units 5 Units 34 Units

2 Beds 1 Beds 18 Beds 3 Beds 5 Beds 5 Beds 34 Beds

502 SF 566 SF 687 SF 597 SF 837 SF 682 SF 686 SF

1,004 SF 566 SF 12,366 SF 1,791 SF 4,185 SF 3,410 SF 23,322 SF

$772.00 $850.00 $795.17 $569.67 $849.00 $849.00 $791.36

$1.54 SF $1.50 SF $1.16 SF $0.95 SF $1.01 SF $1.24 SF $1.15 SF

$1,544 $850 $14,313 $1,709 $4,245 $4,245 $26,906

$795.00 $850.00 $825.00 $599.00 $849.00 $849.00 $811.09

$1.58 SF $1.50 SF $1.20 SF $1.00 SF $1.01 SF $1.24 SF $1.18 SF

$1,590 $850 $14,850 $1,797 $4,245 $4,245 $27,577

$915.00 $975.00 $915.00 $705.00 $885.00 $885.00 $889.41

$1.82 SF $1.72 SF $1.33 SF $1.18 SF $1.06 SF $1.30 SF $1.30 SF

$1,830 $975 $16,470 $2,115 $4,425 $4,425 $30,240

TWO BEDROOM 2BR/1BA - 1025 Dana 2BR/1BA - 974 Dana 2BR/1BA - 980 Dana 2BR/1BA - 46 Graham 2BR/2BA - 980 Dana Totals / Wtd. Averages

1 Units 4 Units 4 Units 1 Units 1 Units 11 Units

2 Beds 8 Beds 8 Beds 2 Beds 2 Beds 22 Beds

1,003 SF 1,132 SF 895 SF 706 SF 930 SF 977 SF

1,003 SF 4,528 SF 3,580 SF 706 SF 930 SF 10,747 SF

$749.00 $1,124.25 $1,017.50 $800.00 $1,249.00 $1,033.18

$0.75 SF $0.99 SF $1.14 SF $1.13 SF $1.34 SF $1.06 SF

$749 $4,497 $4,070 $800 $1,249 $11,365

$749.00 $1,149.00 $1,150.00 $800.00 $1,249.00 $1,090.36

$0.75 SF $1.02 SF $1.28 SF $1.13 SF $1.34 SF $1.12 SF

$749 $4,596 $4,600 $800 $1,249 $11,994

$1,050.00 $1,255.00 $1,215.00 $925.00 $1,350.00 $1,200.45

$1.05 SF $1.11 SF $1.36 SF $1.31 SF $1.45 SF $1.23 SF

$1,050 $5,020 $4,860 $925 $1,350 $13,205

THREE BEDROOM 3BR/1BA - 1025 Dana 3BR/1BA - 1029 Dana 3BR/1BA -2013 Hopkins Ave 3BR/1BA - 46 Graham Totals / Wtd. Averages

2 Units 5 Units 1 Units 1 Units 9 Units

6 Beds 15 Beds 3 Beds 3 Beds 27 Beds

1,504 SF 1,116 SF 1,789 SF 1,509 SF 1,321 SF

3,008 SF 5,580 SF 1,789 SF 1,509 SF 11,886 SF

$1,175.00 $1,286.40 $915.00 $1,400.00 $1,233.00

$0.78 SF $1.15 SF $0.51 SF $0.93 SF $0.93 SF

$2,350 $6,432 $915 $1,400 $11,097

$1,250.00 $1,335.00 $915.00 $1,400.00 $1,276.67

$0.83 SF $1.20 SF $0.51 SF $0.93 SF $0.97 SF

$2,500 $6,675 $915 $1,400 $11,490

$1,335.00 $1,385.00 $985.00 $1,485.00 $1,340.56

$0.89 SF $1.24 SF $0.55 SF $0.98 SF $1.02 SF

$2,670 $6,925 $985 $1,485 $12,065

UNIT TYPE

RENT/UNIT

RENT/SF

T O TA L R E N T POTENTIAL

RENT/UNIT

RENT/SF

T O TA L R E N T POTENTIAL

INCOME

Bill Back Cleaning Laundry Income Bill Back Materials Late Fee Bill Back Removal of Items Storage Income Bill Back Key/Lock Replacement

EXPENSE

U C | XAV I E R - F I N A N C I A L S

INCOME & EXPENSES

GROSS POTENTIAL RENT All Units at Market Rent Gain (Loss) to Lease GROSS SCHEDULED RENT Other Income Utility Reimbursement Fee Pet Rent Pet Fee-Non Refundable Application Fee Income

Total Other Income GROSS POTENTIAL INCOME Physical Vacancy Renovations Loss Bad Debt EFFECTIVE GROSS INCOME NON-CONTROLLABLE Real Estate Taxes 2020 Taxes Paid Adjustment for Sale Total Real Estate Taxes Insurance Utilities Electric Electric Vacant Gas Gas Vacant 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 General & Administrative Management Fee Telephone & Cable Replacement & Reserves Total Controllable TOTAL EXPENSES NET OPERATING INCOME

CURRENT (T3 INCOME; TRAILING EXPENSE) % of GPR $594,344 T3 ($12,796) T3 2.15% $581,549 $12,928 $6,360 $1,800 $1,800 $1,200 $1,154 $1,140 $1,134 $600 $600 $200 $28,916 $610,465 ($3,138) ($94,887) $0 $512,440

T3 T3 T3 T3 T3 T3 T3 T3 T3 T3 T3

2.22% 1.09% 0.31% 0.31% 0.21% 0.20% 0.20% 0.20% 0.10% 0.10% 0.03% 4.97%

T3 T3

Per Unit 11,006 (237) 10,769

SUMMER 2022 - EXPECTATIONS (RECAPTURE LTL, STABILIZED OCCUPANCY AND OTHER INCOME, T12 EXPENSES) % of GPR Per Unit $666,120 12,336 ($39,967) 6.00% (740) 11,595 $626,153

0.54% 16.32% 0.00% 80.99%

239 118 33 33 22 21 21 21 11 11 4 535 11,305 (58) (1,757) 0 9,490

$13,316 $6,551 $1,854 $1,854 $1,236 $1,189 $1,174 $1,168 $618 $618 $206 $29,784 $655,937 ($31,308) $0 ($6,262) $618,367

5.00% 0.00% 1.00% 88.00%

$54,636 Auditor $0 $54,636 $28,149 T12

% of EGI 10.66% 0.00% 10.66% 5.49%

Per Unit 1,012 0 1,012 521

$54,636 $0 $54,636 $27,000

8.84% 0.00% 8.84% 4.37%

% of EGI 1,012 0 1,012 500

$2,697 $4,635 $17,669 $3,618 $31,521 $10,408 $70,548 $153,332

T12 T12 T12 T12 T12 T12

0.53% 0.90% 3.45% 0.71% 6.15% 2.03% 13.77% 29.92%

50 86 327 67 584 193 1,306 2,839

$2,751 $4,728 $18,022 $3,690 $32,151 $10,616 $71,959 $153,594

0.44% 0.76% 2.91% 0.60% 5.20% 1.72% 11.64% 24.84%

51 88 334 68 595 197 1,333 2,844

$3,609 $17,125 $3,175 $23,908 $49,564 $470 $107,931 $474 $21,936 $1,219 $5,000 $210,501 $363,833 $148,606

T12 T12 T12

0.70% 3.34% 0.62% 4.67% 9.67% 0.09% 21.06% 0.09% 4.28% 0.24% 0.98% 41.08% 71.00% 29.00%

67 317 59 443 918 9 1,999 9 406 23 250 4,056 6,738 2,752

$4,050 $13,500 $3,240 $20,790 $27,000 $2,700 $59,400 $4,050 $37,102 $1,350 $13,770 $166,162 $319,756 $298,611

0.65% 2.18% 0.52% 3.36% 4.37% 0.44% 9.61% 0.65% 6.00% 0.22% 2.23% 26.87% 51.71% 48.29%

75 250 60 385 500 50 1,100 75 687 25 255 3,077 5,921 5,530

T12 T12 T12 T12 T12 T12 Note 1

2.13% 1.05% 0.30% 0.30% 0.20% 0.19% 0.19% 0.19% 0.10% 0.10% 0.03% 4.76%

247 121 34 34 23 22 22 22 11 11 4 552 12,147 (580) 0 (116) 11,451

YEAR 1 (STABILIZED OCCUPANCY, FINISH RENO ON REMAINING UNITS) % of GPR Per Unit $686,104 12,706 ($13,722) 2.00% (254) $672,382

$13,715 $6,747 $1,910 $1,910 $1,273 $1,225 $1,209 $1,203 $637 $637 $212 $30,677 $703,059 ($33,619) $0 ($6,724) $662,716

12,452

2.04% 1.00% 0.28% 0.28% 0.19% 0.18% 0.18% 0.18% 0.09% 0.09% 0.03% 4.56%

YEAR 2 (PROJECTED RENT INCREASE AFTER STABILIZATION, RENO) % of GPR Per Unit $706,687 13,087 ($14,134) 2.00% (262) $692,553 12,825

5.00% 0.00% 1.00% 92.00%

254 125 35 35 24 23 22 22 12 12 4 568 13,020 (623) 0 (125) 12,273

$14,127 $6,950 $1,967 $1,967 $1,311 $1,261 $1,246 $1,240 $656 $656 $219 $31,598 $724,151 ($34,628) $0 ($6,926) $682,597

2.04% 1.00% 0.28% 0.28% 0.19% 0.18% 0.18% 0.18% 0.09% 0.09% 0.03% 4.56% 5.00% 0.00% 1.00% 92.00%

262 129 36 36 24 23 23 23 12 12 4 585 13,410 (641) 0 (128) 12,641

$54,636 $0 $54,636 $27,540

% of EGI 8.24% 0.00% 8.24% 4.16%

Per Unit 1,012 0 1,012 510

$54,636 $0 $54,636 $28,091

% of EGI 8.24% 0.00% 8.24% 4.24%

Per Unit 1,012 0 1,012 520

$2,806 $4,822 $18,383 $3,764 $32,794 $10,828 $73,398 $155,573

0.42% 0.73% 2.77% 0.57% 4.95% 1.63% 11.08% 23.48%

52 89 340 70 607 201 1,359 2,881

$2,862 $4,919 $18,750 $3,840 $33,450 $11,045 $74,866 $157,592

0.43% 0.74% 2.83% 0.58% 5.05% 1.67% 11.30% 23.78%

53 91 347 71 619 205 1,386 2,918

$4,131 $13,770 $3,305 $21,206 $27,540 $2,754 $60,588 $4,131 $39,763 $1,377 $14,045 $171,404 $326,977 $335,739

0.62% 2.08% 0.50% 3.20% 4.16% 0.42% 9.14% 0.62% 6.00% 0.21% 2.12% 25.86% 49.34% 50.66%

77 255 61 393 510 51 1,122 77 736 26 260 3,174 6,055 6,217

$4,214 $14,045 $3,371 $21,630 $28,091 $2,809 $61,800 $4,214 $40,956 $1,405 $14,326 $175,230 $332,822 $349,776

0.64% 2.12% 0.51% 3.26% 4.24% 0.42% 9.33% 0.64% 6.00% 0.21% 2.16% 26.26% 50.22% 52.78%

78 260 62 401 520 52 1,144 78 736 26 265 3,223 6,163 6,477

* * S E PA R AT E F I N A N C I A L S CA N B E F O U N D I N T H E D E A L VA U LT * *

INCOME EXPENSE

U C | XAV I E R - F I N A N C I A L S

CASH FLOW

CURRENT

YR 1

YR 2

YR 3

YR 4

YR 5

YR 6

YR 7

YR 8

YR 9

YR 10

YE JUN-2023

YE MAY-2024

YE MAY-2025

YE MAY-2026

YE MAY-2027

YE MAY-2028

YE MAY-2029

YE MAY-2030

YE MAY-2031

YE MAY-2032

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

$594,344 ($12,796) $581,549 $28,916

$666,120 ($39,967) $626,153 $29,784

$686,104 ($13,722) $672,382 $30,677

$706,687 ($14,134) $692,553 $31,598

$727,887 ($14,558) $713,330 $32,230

$749,724 ($14,994) $734,729 $32,874

$772,216 ($15,444) $756,771 $33,532

$795,382 ($15,908) $779,474 $34,202

$819,244 ($16,385) $802,859 $34,886

$843,821 ($16,876) $826,944 $35,584

$869,136 ($17,383) $851,753 $36,296

GROSS POTENTIAL INCOME Physical Vacancy Renovations Loss EFFECTIVE GROSS INCOME

$610,465 ($3,138) ($94,887) $512,440

$655,937 ($31,308) $0 $618,367

$703,059 ($33,619) $0 $662,716

$724,151 ($34,628) $0 $682,597

$745,559 ($35,666) $0 $702,759

$767,604 ($36,736) $0 $723,520

$790,303 ($37,839) $0 $744,897

$813,677 ($38,974) $0 $766,908

$837,745 ($40,143) $0 $789,574

$862,529 ($41,347) $0 $812,912

$888,049 ($42,588) $0 $836,943

Replacement & Reserves TOTAL EXPENSES

$54,636 $28,149 $70,548 $23,908 $49,564 $470 $107,931 $474 $21,936 $1,219 $5,000 $363,833

$54,636 $27,000 $71,959 $20,790 $27,000 $2,700 $59,400 $4,050 $37,102 $1,350 $13,770 $319,756

$54,636 $27,540 $73,398 $21,206 $27,540 $2,754 $60,588 $4,131 $39,763 $1,377 $14,045 $326,977

$54,636 $28,091 $74,866 $21,630 $28,091 $2,809 $61,800 $4,214 $40,956 $1,405 $14,326 $332,822

$55,728 $28,653 $76,363 $22,063 $28,653 $2,865 $63,036 $4,298 $42,166 $1,433 $14,613 $339,869

$56,843 $29,226 $77,890 $22,504 $29,226 $2,923 $64,296 $4,384 $43,411 $1,461 $14,905 $347,069

$57,980 $29,810 $79,448 $22,954 $29,810 $2,981 $65,582 $4,472 $44,694 $1,491 $15,203 $354,424

$59,139 $30,406 $81,037 $23,413 $30,406 $3,041 $66,894 $4,561 $46,015 $1,520 $15,507 $361,940

$60,322 $31,015 $82,658 $23,881 $31,015 $3,101 $68,232 $4,652 $47,374 $1,551 $15,817 $369,618

$61,528 $31,635 $84,311 $24,359 $31,635 $3,163 $69,597 $4,745 $48,775 $1,582 $16,134 $377,463

$62,759 $32,267 $85,997 $24,846 $32,267 $3,227 $70,988 $4,840 $50,217 $1,613 $16,456 $385,479

NET OPERATING INCOME

$148,606

$298,611

$335,739

$349,776

$362,891

$376,451

$390,472

$404,969

$419,956

$435,449

$451,465

EXPENSES Real Estate Taxes Insurance Utilities Contract Services Repairs & Maintenance Marketing & Promotion On-Site Payroll General & Administrative Management Fee Telephone & Cable

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

12.08% 6.00% 3.00%

3.00% 2.00% 3.00%

6.00%

2.00% 6.00%

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%

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

S E C T I O N

LOCAL M

MARKET

CINCINNATI The steady and stable nature of the Cincinnati apartment market due to seasonal demand patterns, the three subsemarket was undoubtfully a benefit through 2020. The MSA quent quarters saw huge demand and absorption totaled saw a 2.7% annual increase in effective asking rents on 1,563 units. That is 38% above the 20-year norm for annual new leases which matched the market’s norm for the 2010s absorption. During the peak of the pandemic challenges the decade. This growth put Cincinnati at #14 amongst the 50 job market declined 4.6%, this ranked Cincinnati 3rd best largest markets for rent growth in 2020. Although occupan- among the Midwest and was significantly better than the cy was down 0.3 points from the prior year’s rate, the 4th national average of 5.8%. quarter 2020 occupancy rate (96.4%) ranked #11 among the top 50 markets and #3 regionally. Only Q1 2020 saw net move-outs, although that’s typically the case in the local

E C O N O M I C OV E R V I E W Prior to the pandemic, Cincinnati’s economy grew at a moderate rate – averaging an estimated growth pace of 2.1% annually in the five years ending Q1 2020. However, the economy contracted 2.4% in 2020. By November of 2020 the pandemic induced the loss of 51,200 jobs putting the employment rate at 4.8%, below the national average of 6.4%. Cincinnati has experienced less severe economic impacts compared to other cities, this fact is credited to the divers and stable employers that call Cincinnati home. There are eight fortune 500 companies headquartered in Cincinnati: Kroger, Procter & Gamble, Fifth Third Bancorp, American Financial Group, Cincinnati Financial, Western & Southern Financial Group, Cintas & Ak Steel Holding. In addition to the nationally recognized powerhouse corporations, Cincinnati has placed a specific focus on programs to foster and promote entrepreneurs and start-ups. Also the city has made significant investments in facilities and infrastructure to support medical research, and other scientific innovations to attract and retain talent found at the University of Cincinnati. The Innovation Corridor by Uptown Consortium is the largest single development in Cincinnati since the Great American Ball Park and will be a state-of-the-art science and research hub next to UC.

ADG MULTIFAMILY

D E M O G R A P H I C OV E R V I E W Population growth in Cincinnati remains ulation growth coupled with a modest modest, as the metro’s population ex- pipeline has maintained occupancies panded just 2.5% from 2014-2019, be- between 95%-97% over the last six years low the U.S. average of 2.9%. During with the average occupancy in Q4 of that period the majority of Cincinnati’s 2020 being above the six year average growth came from the 55+ age segment at 96.4%. The average effective asking which grew 11.5%. The 20-to 34-year-old rents have outperformed the Midwest segment grew modestly over the five- averages since 2011 and in 2020 the year period increasing 2.1% which was average effective rents grew by 2.7% above the national average of 1.6%. A outpacing the Midwest average of 0.8% very strong aspect to Cincinnati’s popu- and the national average of -1.1%. lation is the level of education amongst the working age population with 37% of that segment having a bachelor’s degree or higher compared to the national average of 33.1%. The modest pop-

D E M O G R A P H I C S : STAT I ST I C S Population: 2,190,000

Msa median hhi: $62,743

Msa median home value: $173,500

Average occupancy: 96.4%

Median age: 38 (.39%)

1 - Year growth: 1.77%

1 - Year growth: 4.83%

Rent growth: 2.7%

S U P P LY & D E M A N D DEMAND • Annual absorption in Cincinnati has ranged from 776 units to 3,068 units in the last five years. Average of 1,788 units annually during that time. • In the last 12 months, the Cincinnati market recorded demand for 1,462 units, exceeding concurrent supply volumes for the first time since the pandemic began. • Campbell County, Warren County and Butler County are a few of the strongest areas in Cincinnati, based on absorption, over the last five years.

S U P P LY • Over the past five years Annual new supply averaged 1,555 units, and annual inventory growth averaged 1.0%. In the year-ending 2nd quarter 2021, there were 1,131 units delivered. • Among submarkets, new supply over the past five years has been concentrated in Central Cincinnati, Campbell/Kenton Counties and Northeast Cincinnati/Warren County, totaling 62% of the market’s total completions over that time. Scheduled new deliveries in the coming year are expected to be concentrated in Central Cincinnati.

HEART OF DOWNTOWN The Banks is a gathering place for people all across the region. It provides a lively atmosphere full of attractions that promote public enjoyment and appreciation for city’s riverfront. Spanning the full width of the Central Business District, The Banks brings the waterfront to downtown’s front door. Thriving off of the energy generated by the adjacent professional sports venues, Paul Brown Stadium to the west and Great American Ballpark to the east, The Banks provides life and energy as a premier live, work, and play district.

TQ L STA D I U M The FCC-TQL partnership brings together two Cincinnati-grown, leading businesses that share a “no limits” philosophy as well as a deep connection and commitment to our local community. There are a lot of synergies that make this alliance between TQL and FCC a perfect match and are reflected throughout the stadium from — the fin lighting to the TQL Beer District. The stadium features first-in-the-world lighting technology powered by 2.7 miles of LED lights.

I N T E R E ST I N G STAT I ST I C S 26,000 STADIUM SEATS 14,256 FEET OF LED LIGHTS 360 CANOPY ROOF 3,170 BAILEY SEATS ADG MULTIFAMILY

ATTRACTIONS DORA From 11am – 1am daily, the 85-acre DORA district at The Banks allows guests to take their beverage purchased from one of the 18 Banks establishments and explore our public plazas and green spaces. It simply needs to be in the Official DORA Cup. At risk of missing the first pitch? Late for the opening act? Take your beverage purchased in a DORA cup from a Banks establishment and go! Waiting for a table, or wish to picnic outside in The Banks plazas or greenspaces? Grab a DORA beverage from a Banks establishment and explore!

C I N C I N N AT I Z O O The Cincinnati Zoo & Botanical Garden is the second oldest zoo in the United States, founded in 1873 and officially opening in 1875, after the Roger Williams Park Zoo. It is located in the Avondale neighborhood of Cincinnati, Ohio. It originally began with 64.5 acres in the middle of the city, but has spread into the neighboring blocks and several reserves in Cincinnati’s outer suburbs. It was appointed as a National Historic Landmark in 1987.

H A R D RO C K CAS I N O The game is always on at Hard Rock Casinos, where stars are made every night. Come try your hand at the tables, with classic games including blackjack, baccarat and poker, or tap into thousands of the hottest slots on the planet. With the world’s greatest rock memorabilia collection to enhance the thrill, plus the accompaniment of live, world-class entertainment, the atmosphere is like no other.

RETAIL & SHOPPING In addition to the restaurant and nightlight scene, the area has no shortage of retail options. Downtown offers both boutiques and department stores. Over-the-Rhine (OTR) is a historic, walkable district of downtown Cincinnati with many independent shops. Cincinnati’s

homage

Over-the-Rhine neighborhood was once a place where residents would not recommend to visitors, but that has changed. The restaurant and nightlife scene is now thriving, and the shopping scene is beginning to catch up. Most of the shops are in the southwest quarter of Over-the-Rhine, on either Vine or Main St. You won’t find chain stores in this walkable shopping district. MiCA 12/v and Urban Eden are a popular gift shops that sell local arts and crafts. Elm & Iron sells vintage and up-cycled items for the home. The Little Mahatma sells exotic jewelry and folk art from around the world. You’ll find several clothing boutiques, including Mannequin, a non-profit

otr

upscale and vintage boutique that benefits local charities. Park + Vine is a popular general store for environmentally-conscious shoppers; they sell a variety of merchandise including green cleaning and personal products, vegan foods, garden products and more.

elm & iron

FINDLAY FARMERS MARKET Findlay Market is Ohio’s oldest continuously operated public market

merchants are new startups, while others have been in business for

and is located in the historic Over-the-Rhine neighborhood. The mar- generations. You’ll find everything from fresh meat and produce to ket is a wonderful place for locals to buy their groceries as well as imported fine teas to Belgian waffles. There are restaurants as well a must-see historic spot for visitors to Cincinnati. Findlay Market is as a beer garden, so plan to stay for lunch. Findlay Market has a fasopen year-round, Tuesday through Sunday, with a seasonal farmers cinating history. Why not take a tour to learn more? There are several market. Nearly 40 full-time businesses operate year-round, plus over 100 more vendors operate on weekends or part-time. Many vendors sell raw food while others specialize in prepared foods. Some of the

different tour options, including a culinary tour with tasty samples.

visit adgmultifamily.com to learn more.