Gainesville Investment Offering

WE

#4 BEST PUBLIC UNIVERSITY #7 LARGEST UNIVERSITY IN THE U.S.

E XC E E D E XP E C TA TIO N S. W E

GAINESVILLE

S E T N E W S T A N D A R DS .

D EL I V ER .

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W E

CLASS B: (COMMON MEMBER CLASS)

8% Preferred Return + 7% Accrual + 25% Residual Profit A C Q UISIT ION

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DEV EL OP MEN T

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MAN AG EMEN T

EXECUTIVE SUMMARY

Tailwind Group (“Tailwind” or “Manager”) is excited to present The Quarters at Gainesville (“Property” or “Asset”), a 252 unit / 924 bed, 1996 vintage student housing community located near The University of Florida in Gainesville (“UF”). Tailwind is currently seeking equity for the opportunity. The investment is offering up to $26,400,000 in value-add focused capital to re-position the asset via a rebrand and strategic capital improvements.

Tailwind took over ownership and management on January 16th, 2025, acquiring the property at an attractive 47% discount to replacement cost.

From 2022-2023, the previous ownership completed 96 unit upgrades (luxury furniture package, quartz countertops, upgrade lighting/ceiling fixtures, and smart 55” TV), fresh flooring in bedrooms, and refreshed clubhouse, further enhancing our acquisition price of $40,400,000 ($43,725/bed).

Tailwind anticipates beginning with a strategic renovation plan Spring of 2025. The plan totals $14,225,000 and will span 20 months. This plan includes bed-bath parity conversions, renovating all units to mirror current ownership’s upgrades, smart technology upgrades, unit access controls, and upgrades to the fitness center and pool area. Tailwind anticipates that these significant capital improvements will lead to substantial rent increases upon completion. Additionally, we will implement our flagship management standards and practices, further adding to the improved value of the asset.

THEQUARTERS

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INVESTMENT OFFERING INVESTMENT OFFERINGS

CLASS B

Common Member Class

Total Class B Equity

$17,000,000

Levered IRR Target

16% - 20%

Equity Multiple

8%

Supplemental Return

7%

Priority Return

Preferred Class

FILLED

MANAGER EQUITY Class

1.3 - 1.7x

Initial Pay Profit Participation

CLASS A

CAPITAL STACK

Yes - 25% No

Total Class A Equity

$10,000,000

Levered IRR Targert

12% - 15%

Equity Multiple

1.3-1.5x

Initial Pay

10%

Supplemental Return

4%

Profit Participation

No

Priority Return

Yes

Total Manager Equity

$1,350,000

Preferred Return

8%

Supplemental Return

7%

Profit Participation

Yes

$63,000,000 $56,000,000

$63,350,000 $1,350,000

Up to 100% of Total Project Costs

$17,000,000

Up to 98% of Total Project Costs

$10,000,000

Up to 71% of Total Project Costs

$35,000,000

Up to 55% of Total Project Costs

$49,000,000 $42,000,000 $35,000,000 $28,000,000 $21,000,000 $14,000,000 $7,000,000 $0 Capital Stack

Manager Equity

Class B

Class A

Old National & Equity Bank

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OWNERSHIP GROUP KYLE SMITH

Founding Principal ksmith@thetailwindgroup.com

MICHAEL SATHER

Principal & Chief Investment Officer msather@thetailwindgroup.com

LANDON SMITH

Founding Principal lsmith@thetailwindgroup.com

SENIOR LEADERSHIP

BRANDON SMITH

President & Chief Executive Officer bsmith@thetailwindgroup.com

CASEY PETERSEN

Chief Operating Officer cpetersen@thetailwindgroup.com

JACOB OURADNIK

Chief Financial Officer jouradnik@thetailwindgroup.com

KRYSTAL PIERCE

Chief Investor Relationsip & General Counsel kpierce@thetailwindgroup.com

INVESTOR RELATIONS

JON FAHNING

VP, Investor Relations kpierce@thetailwindgroup.com

BRYCE ANDREWS

Investor Relations Associate bandrews@thetailwindgroup.com

BETSY THEIL

Investor Communications Specialist btheil@thetailwindgroup.com

ALYSSA KOSTA

Investor Relations Administrator akosta@thetailwindgroup.com

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THE VERTICAL INTEGRATION ADVANTAGE DEAL ORIGINATION

Extensive industry network that understands our investment profile and provides access to multiple off-market opportunities and capital partners.

INVESTOR ALIGNMENT

Tailwind Group principals and senior leadership invest significant personal capital into each transaction, aligning interests with partners and investors.

TRACK RECORD

Tailwind Group has a proven track record of executing successful projects ranging from ground up development to value-add opportunities that has provided strong returns through cash flow and long-term appreciation.

400+ EMPLOYEES 19,500+ BEDS 15 STATES 40 PROPERTIES $150M+ ANNUAL REVENUE $1.2B+ IN ASSETS MANAGED

GAINESVILLE

20,000

19,629

19,000 18,000 17,000

EXTENSIVE EXPERIENCE

Tailwind Group’s team includes real estate management, development, finance, and investment professionals with decades of combined transaction experience.

PROPERTY MANAGEMENT & ENHANCEMENT Tailwind Group manages every property it owns to quickly respond to market uncertainty or allocate internal resources across all markets.

ACTIVE ASSET ALIGNMENT

Strong team of corporate resources that are engaged from acquisition to disposition.

16,000 15,000

15,073

TOTAL BEDS MANAGED

14,000

14,444

13,000

12,828

13,149

12,000 11,000 10,000 9,000

8,200

8,000 7,000

8,700

6,880

6,000 5,000

4,690

4,000 3,000 2,000 1,000 0

2,200 1,352

2013

2,696

1,592

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

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OUR INVESTOR CARE COMMITMENT INVESTOR PORTAL - JUNIPER SQUARE • Access investment documentation

• Upcoming investment opportunities​ • Review periodic performance updates​​

ANNUAL TAX RETURNS

• Our goal is to electronically deliver tax reporting by March 15th • All tax documents remain archived in your investor portal​

CONSISTENT UPDATES

• Quarterly asset and leasing updates during implementation of value-add strategy • Quarterly market and financial updates

INVESTOR RELATIONS

• Proactive communication • Service orientated & focused • We are available anytime on the web, email or phone

INVESTOR REQUIREMENTS

DISTRIBUTIONS

• Minimum investment: $100,000

• Distributions available by electronic ACH on a monthly basis

• Must be an accredited investor

PROJECT LIFE CYCLE TRACK RECORD (Five Most Recent Transactions) PROPERTY

UNIVERSITY

COST BASIS

EXIT PRICE

ACQ. DATE

EXIT DATE

PROJECT LEVEL IRR

INVESTOR IRR

INVESTOR EQUITY MULTIPLE

Quarters Tallahassee

Florida State University

$43,200,000

$52,000,000

9/2021

6/2023

36%

19%

1.3x

Quarters Columbia

University of Missouri

$35,500,000

$41,000,000

6/2022

11/2024

22%

22%

1.7x

College Town Oxford

University of Mississippi

$38,000,000

$64,900,000

4/2021

4/2024

48%

27%

1.7x

The Griff

Ohio State Universtiy

$71,000,000

$73,500,000

6/2018

11/2024

4%

4%

1.3x

Quarters Cedar Falls

University of Northern Iowa

$16,400,000

$21,200,000

8/2016

1/2025

10%

9%

1.7x

1.5X EQUITY MULTIPLE | AVERAGE INTERNAL RATE OF RETURN (IRR) OF 16% www.theta i l wi nd g roup .com

INVESTMENT HIGHLIGHTS IMMEDIATE CASH-ON-CASH DISTRIBUTIONS

The Quarters Gainsville offers investors an opportunity to invest in the Class B, Common Member Class.

• Class A: 10% Preferred Return, 4% Supplemental Return (NOT AVAILABLE FOR SUBSCRIPTION) • Class B: 8% Preferred Return, 7% Supplemental Return & 25% Profit Split (8% annualized return is paid on a monthly basis, starting June 1st)

LOCATION, LOCATION, LOCATION

This prime location is one mile from campus, offering residents immediate access to on-campus destinations via the adjacent University of Florida regional transit system bus stop. Just up the street is Butler Plaza, a vibrant 267-acre hub with over 138 retail and dining options, offering unmatched convenience for shopping, dining, and entertainment. The site is also nearby Celebration Point that frequently hosts live music concerts, festivals, and a farmers market.

UNIVERSITY ENROLLMENT GROWTH

UF campus bolsters nearly 55,000 enrolled students with an acceptance rate of 24%. Full time enrollment from out of state students grew 2.1% in 2023. Ben Hill Griffin Stadium, also known as “The Swamp” is home to the renowned D1 Florida Gators football team and is set to undergo a multi-phase renovation expected to cost at least $400,000,000.

ATTAINABLE RENT GROWTH

The Quarters at Gainesville currently offers rates that are $290+ below our expected direct competitor for three-bedroom units and $215+ below for four-bedroom units. With our capital improvement strategy and the addition of bed-bath parity for select units, we aim to adjust our rents to align with the prevailing rates for our competitors.

PROJECT OVERVIEW Property Name City, State Address Product Type

COMMUNITY

The Quarters Gainesville Gainesville, Florida 4000 SW 37 Boulevard Student Housing

No. Beds

924

No. Units

252

Year Built

1996

Avg. Unit Size (sf)

1,383

Avg. Market Rent / Unit

$2,600

Avg. Market Rent / Bed

$700

University Total Enrollment

AMENITIES

University of Florida

24 -H O U R F I T N E S S C E N T E R

RESORT SWIMMING POOL

DO G P A R K

C O F F E E BA R

A BU N DA N T P A R KI N G

55,000

Distance to Campus

1.0 Mi

Current Occupancy

72%

Current Pre-lease

66%

T H R E E BU S S T O P S

1 MILE FROM CAMPUS

INVESTMENT OVERVIEW VALUATION HIGHLIGHTS In-Place NOI

$1,040,000

Going-In Cap Rate

2.60%

Stabilized NOI

$4,660,000

Exit Cap Rate

6.25%

Stable YOC

7.60%

Exp. (Comp) Stable YOC to Exit Cap Rate

1.35%

Stabilized Valuation

$74,600,000

SOURCES & USES

Uses

$40,400,000

$43,723

Transaction Cost

$2,254,000

$2,440

CapEx

Working & Capital Reserves TOTAL USES Sources Debt

Summary

Inception

TOTAL SOURCES

Contributions

$100,000

Year 1

$8,000

$134,871*

Lender

Total Funding Loan Term

Metrics Cash on Cash

-

8%

8%

$14,225,000 $6,471,000

$15,395 $7,003

$63,350,000

$68,561

$28,350,000

$30,682

$63,350,000

$68,561

$35,000,000

$37,879

Year 3

LEVERAGE SUMMARY $8,000

Distributions

Year 2

$/Bed

Acquisition Price

Equity

$100K INVESTOR EXAMPLE

Amount

34%

Target Annualized ROI 16% - 20% Target Equity Multiple 1.3x - 1.7x *Year 3 returns example includes a return of capital, the 8% annual distribution, the 7% accrual from years 1-3, and the 25% share of a projected of profit split

Old National and Equity Bank $35,000,000 5 Yrs

Interest Only Period

36 Months

Senior Loan Proceeds

$20,775,000

Loan to Cost

Senior Loan Interest Rate

Renovation Loan Proceeds

Renovation Loan Interest Rate

57%

6.75% (Rate Cap/Floating) $14,225,000

7.05% (Floating)

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BUSINESS PLAN

1 2

YEAR 1 (ACQUISITION) • Implementation of Tailwind Group management and leasing practices ​ • Rebranded the property to The Quarters Gainesville in March 2025 • Commenced bed/bath parity conversions and unit upgrades Spring 2025 (360 beds completed by Fall 2025)

YEAR 2 (1ST LEASING CYCLE) • Mark to market rental rates at par with comparable properties • Implement income and expense improvements: • Implement ancillary income opportunities • Benchmark general, administrative, marketing, and turnover expenses to portfolio

3

YEAR 3 & THEREAFTER (STABILIZATION) • Target net operating income (“NOI”) of $4.6M, or 7.4% yield on cost (“YOC”) • 1.10% bps risk premium over mid to high 6.25% exit cap rate • Position the asset for permanent financing, either for partial or full recapitalization of the existing equity stack, or for disposition

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UNIT MIX COMPOSITION, RENT, & OCCUPANCY DETAIL

The Quarters at Gainesville is made up of 3-bedroom and 4-bedroom apartments. At acquisition only 8% of 4-bedrooms currently have bed bath parity, which is 6% of the total unit mix. Over the next three years, Tailwind will increase bed - bath parity through the construction plan, and effectively increase rents. Proven strategy will reposition the asset to be aligned with direct competitors.

3 YEAR RENT GROWTH STRATEGY

UNIT MIX COMPOSITION

AY 24/25

AY 25/26

AY 26/27

AY 27/28

Market Rent

$711

$752

$789

$812

Concessions/Bed/Mo ($)

($123)

($101)

($23)

($16)

Concessions/Bed/Mo (%)

(17.3%)

(13.4%)

(2.9%)

(2.0%)

4x3 - Platinum

Net Effective Rent

$588

$652

$765

$796

38%

NER Growth ($)

$51

$64

$114

$31

NER Growth (%)

9%

11%

17%

4%

4x4

5% 3x2

33%

4x3

Strong market economics support the ability to significantly increase rental rates upon taking over leasing. Tailwind firmly believes the current rate discrepancy allows for steep rent increase.

22%

3 BEDROOM NET EFFECTIVE RENTS & PRE-LEASE AY 25/26 $1,405 $1,405

$1,400 $1,400 $1,200 $1,200

$815

$800

$600 $640 $600 $640 $400

3X2 $400

$1,200 $1,200

$1,140 $1,140

$1,000 $1,000

$1,000 $1,000 $800

4 BEDROOM NET EFFECTIVE RENTS & PRE-LEASE AY 25/26

3X2

3X2

$840 $815 3X3 3X2

$840

3X3 $660

$915

$660

$745

$745

$200 $200 Canopy On20 Hideaway Monarch Quarters Quarters Canopy On20 Monarch Quarters Current Quarters Post Reno.Hideaway Current Post Reno.

$800

$730 $730 $705 $705 $630 $630 $600 $600 $600 $600 4x4 $570 $570 4x4 4x3 $400 4x4 4x3 $400 4x4 4x3 4x3 $200 $200 $800

$915

$0

$765

$765

$715

$715

$0 Canopy On20 Hideaway Quarters Quarters Monarch Canopy On20 Hideaway Quarters Monarch Current Quarters Post Reno.

Current Post Reno.

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UNIVERSITY OF FLORIDA

The University of Florida campus encompasses over 2,000 acres. The campus is home to many notable structures, such as Century Tower, a 157-foot-tall carillon tower in the center of the historic district. Other notable facilities include the Health Science Center, Steve Spurrier-Florida Field at Ben Hill Griffin Stadium, Smathers Library, Phillips Center for the Performing Arts, Harn Museum, University Auditorium, O’Connell Center, and The Hub. The Reitz is the campus union at the University of Florida. The 138,000 square feet of new space includes support space for student organizations, new lounges, study spaces, a game room, an arts and crafts center and dance studios. A number of the University of Florida’s buildings are historically significant. The University of Florida Campus Historic District comprises 19 buildings and encompasses approximately 650 acres. Two buildings outside the historic district, the old WRUF radio station (now the university police station) and Norman Hall (formerly the P.K. Yonge Laboratory School) are also listed on the historic register.

55,000+ STUDENTS #4 BEST PUBLIC UNIVERSITY 300+ DEGREE PROGRAMS

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UF ATHLETICS

The Florida Gators have won thirty-five national team championships, thirty of which are NCAA championships. Florida Gators athletes have also won 267 NCAA championships in individual sports events. Florida is one of only two Division I FBS universities to win multiple national championships in each of the two most popular NCAA sports: football (1996, 2006, 2008) and men’s basketball (2006, 2007, 2025).

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DISCLOSURES NOT AN OFFER TO SELL OR SOLICITATION OF AN OFFER TO BUY SECURITIES PLEASE CAREFULLY READ THE FOLLOWING TERMS BEFORE REVIEWING THIS INVESTMENT SUMMARY (“Summary”). All persons reviewing the Summary expressly agree to the foregoing disclaimer as a pre-condition to reviewing this Summary for any purpose whatsoever.

The information on this Summary is for informational purposes only and is not an offering of or a solicitation to purchase securities or otherwise make an investment.

Securities may only be offered or sold pursuant to registration of securities or an exemption therefrom using offering documents and sales of securities will be limited strictly to those persons who are qualified as “accredited investors” as defined in Regulation D promulgated under the United States Securities Act of 1933. Material information is detailed in the offering documents, including, but not limited to, risk factors.

Everything communicated by Tailwind Group, Inc. and its affiliates and agents, regardless of whether it is written, spoken, recorded audio or video, is intended for education and informational purposes only. All comments are solely the opinion of the presenter. Regardless of whether spoken or written, nothing shall be considered as giving investment advice, an offer, or solicitation, to buy and/or sell any type of investments products or securities. Prior to making any investment you should consult with a professional financial advisor, legal and tax advisor to assist in due diligence as may be appropriate and determining the appropriateness of the risk associated with a particular investment.

All information contained herein is provided “as is,” and Tailwind Group, Inc. and its affiliates each expressly disclaim making any express or implied warranties with respect to the fitness of the information contained herein for any particular usage, its merchantability or its application or purpose. In no event shall Tailwind Group, Inc. or its affiliates be responsible or liable for the correctness of any such material or for any damage or lost opportunities resulting from use of this data. The information in this Summary has not been independently verified. No representation or warranty, express or implied, is made as to the fairness, accuracy or completeness of the presentation and the information contained herein and no reliance should be placed on it. Information in this Summary (including market data and statistical information) has been obtained from various sources (including third party sources) and Tailwind Group, Inc. and its affiliates do not guarantee the accuracy or completeness of such information. All projections, valuations and statistical analyses are provided for information purposes only. They may be based on subjective assessments and assumptions and may use one among alternative methodologies that produce different results and to the extent they are based on historical information, any they should not be relied upon as an accurate prediction of future performance.

No action has been or will be taken to permit an offering of securities in any state where action would be required for that purpose. In considering any prior performance information presented on this Summary, bear in mind that past performance does not indicate future results, and that there can be no assurance that comparable results will be achieved by Tailwind Group, Inc. or its affiliates. Moreover, any such past performance information is subject to, and should be reviewed in light of the assumptions accompanying that information. The use of terms such as higher, above average, safe or successful, express the opinion of Tailwind Group, Inc. and are not a promise or guarantee for any possible investment performance or safety of principal.

The sketches, renderings, graphics materials, plans, specifications, terms, conditions and statements contained in this Summary are proposed only, and Tailwind Group, Inc. reserves the right to modify, revise or withdraw any or all of the same in its sole discretion and without prior notice.

Tailwind Group, Inc. as well as the logos and marks included on the Summary that identify services and products, are proprietary materials. The use of such terms and logos and marks without the express written consent of Tailwind Group, Inc. is strictly prohibited. Copyright in the pages of the Summary, and in the information and material therein, is proprietary material owned by Tailwind Group, Inc. unless otherwise indicated. The unauthorized use of any material on the Summary may violate numerous statutes, regulations and laws, including, but not limited to, copyright, trademark, or trade secret laws.

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