Underserved Student Housing Market - Villas on 8 is the only off-campus student housing option for FVSU students and had a waitlist of 300 students for the 2024-2025 school year Prime University Location - Villas on 8 offers exceptional walkability to campus (2 min) and is the only student property within 13 miles of campus Value-Add Opportunity - New ownership has the opportunity to renovate the remaining 18 units and convert all leases to 12 month terms Strong returns - reducing expenses to $12,500/unit would result in over 12% cash-on-cash returns annually