NEWER CONSTRUCTION BUILT BETWEEN 2011 AND 2019 The Portfolio consists of seven properties totaling 191 Units. All are located within a few blocks of each other. Six properties were builtbetween 2011 and 2019. Bungalow Court (8 Units) is a historic preservation. CUTTING EDGE DESIGN WITH STATE-OF-THE-ART AMENITIES The Properties are designed to have a small cottage feel, craftsman style, or modern design. Van Ness Cottages, Bungalow Court, 1612 Fulton, and Crichton Place have all won multiple multifamily housing awards. LOCATED IN FAST GROWING FRESNO URBAN CORE The Portfolio offers a unique opportunity to acquire Class ‘A’ construction within Downtown Fresno’s revitalized Mural District and Lowell Neighborhood. AFFORDABLE HOUSING COMPONENT Four of the assets are subject to RDA Loan Agreements requiring 47 total Moderate Income (max 120% of AMI) affordable units. The analysis assumes 1.5% annual growth for these units. FLEXIBLE INVESTMENT OPTIONS The Portfolio provides an owner with multiple investment options. • Hold long-term for cash flow purposes • Diversify the portfolio and sell smaller assets, thus reducing the basis of the remaining portfolio • Sell any of the six “condo-mapped” communities, either to a re-seller or individually. The following properties are condo mapped: 330 Van Ness, 1612 Fulton, and The Lede.