MULTIFAMILY INVESTMENT

Multifamily Acquisition Criteria

• Strategy:

  Acquire well located properties in our target markets that leverages our firm's local market knowledge, management, and development expertise to reposition and enhance the value of investments.

• Product Type: Apartment properties

• Quality: A, B or C

• Size: Typically 100 units or greater, single properties or larger portfolios

• Cost: $10 million to greater than $100 million

• Age: We will consider older properties and recent construction.

• Investment Opportunities:

  Value-add rehab, core plus and core investments are all considered as are condominium conversions on a select basis.

• Deal Structure:

  Typically all-cash with no financing contingency, but we will consider the assumption of existing financing.

• Investment Horizon:

  Ranges from 3 – 5 years for value-add rehab deals to 10+ years for core investments.

• Target Markets: San Francisco Bay Area, Sacramento, Central Valley, and Reno

• Sourcing: Sourcing brokers on unlisted properties will be protected.

• Competitive Strengths:

  Proven History - Successful track record acquiring over 2,650 units at a cost of approximately $300 million since inception
  Organizational Depth – Currently manage over 12,000 units for our own portfolio and for our clients
  Broad Capabilities – Strong development and construction expertise and extensive local market knowledge.
  Beneficial Timing - Can move very quickly from contract through due diligence and to closing .

• Contact:

  Ken Gladstein, Sr. Vice President/Investments
  Phone: (650) 377-5711
  Fax: (650) 570-2233
  Email: kgladstein@srgnc.com