INVESTMENT HIGHLIGHTS

STRONGFUNDAMENTALS: The Houston MSA benefits from strong Area Median Income (“AMI”) growth and high tax millage rates. Strong AMI can dictate higher income restriction levels and thus can generate less rent pullback.

NEWERVINTAGEDEALS:These assets were built in 2008, boasting newer construction and better amenities.

POPULATIONGROWTH&LACKOFNEWDELIVERIES:League City stands out in its significant population growth. In the property’s zip code, population grew 32.5% in the past decade (ending in 2021), and it is the third fastest growing zip code in the area, paired with overall lack of deliveries

ATTRACTIVEPRICING:Post’s industry reputation and strong broker relationships allowed us to take advantage of a broken marketing process and source Amalfi & Sorrento at a price well below initial guidance

TAXREASSESSMENT:This structure generates approximately $1.093M in additional Net Operating Income in Year 1 due to the abatement of real estate taxes. Applying a 5.35% cap rate to those savings generates an additional $20.43M in value.