ATTRACTIVE PROPERTY FUNDAMENTALS Beech Tree Glen is a 76 unit apartment complex in Beech Grove, Indiana, conveniently located in the suburbs of Indianapolis. The community boasts an attractive mix of one-bedroom and two-bedroom apartment homes ranging in size from 800 to 900 square feet. Beech Tree Glen Apartments were built in 1970 and have been well maintained over the years. Beech Tree Glen historically operates in the mid-90%’s occupancy and through a detailed review of the rent roll, IPO has discovered that the property’s rents are 10-15% below market. Throughout the current ownership’s stewardship of the property, it has seen significant and consistent capital improvements. These improvements have included light unit renovations, parking lot work and the addition of a formal leasing office on the property. At such an attractive basis we anticipate this deal will not last long.