INVESTMENT OFFERING

TRAX Green Line

North Temple Street

MULTI-FAMILY DEVELOPMENT SITE SEEKING OPPORTUNITY ZONE CAPITAL 1528 West North Temple Street - ,

This Investment Offering provides an exclusive opportunity for HIGHLIGHTS INCLUDE: an Opportunity Zone Fund to invest in a uniquely located Salt • Transit Oriented Development located across the street from Lake City MULTI-FAMILY DEVELOPMENT to be executed by a Power Station of the TRAX Light Rail Green Line, connecting nationally experienced development team with a strong local the airport with downtown Salt Lake City presence. • Prime central Salt Lake City location: • 7-minute drive to the Central Business District and 5-minute PROPERTY INFORMATION drive to Salt Lake City International Airport Address: 1528-1548 West North Temple Street • ½ mile to I-80 and I-215 Freeway interchanges and less than 2 143 North Cornell Street miles to I-15 Freeway Salt Lake City, Utah • Walking distance (1/2 mile) to Cottonwood Park and the Parcel Sizes: #08-34-452-014: 2.02 acres regional recreation trail along the Jordan River #08-34-452-013: 0.24 acres • Strong future growth trajectory along the recently improved #08-34-401-015: 0.16 acres North Temple corridor with significant job growth occurring Total: 2.42 acres at the airport and SLC Inland Port to the west as well as Zoning: TSA-MUEC-C (Transit Station Area District - downtown to the east Mixed-Use Employment Center Station - Core) • Strong value proposition for the renter market offering Project Size: 280 units rents at a discount to the new luxury apartments being built downtown and limited new competing supply along the North Parking: 1.16 spaces per unit (325 spaces) Temple Corridor. Projected Full $68,756,969 Development (including land, soft and hard costs) Cost: Land Value: $6,325,000 ($60 psf - 105,415 sq. ft.)

Exclusively Kip Paul Rhett Bue Jorgi Paul Marketed by Vice Chairman - Investment Sales Director - Investment Sales Senior Associate - Investment Sales 801-303-5555 801-303-5416 801-303-5570 [email protected] [email protected] [email protected] MULTI-FAMILY DEVELOPMENT SITE SEEKING OPPORTUNITY ZONE CAPITAL

The existing Developer, a partnership between Henderson Development and Forum Real Estate Group, is seeking an Opportunity Zone Fund to invest in a development project that is ripe for success. The Developer owns the land, currently zoned for a dense Transit-Oriented Development, and has engaged its design team to create a concept plan that is the basis of the financial model reflected in this Offering Memorandum. The Developer has significant historical experience in developing, owning and operating Multi-Family assets nationally as well as transforming SLC’s North Temple Corridor, with two stabilized assets along the corridor complete and an additional new development currently under construction. TRAX Red Line Over the next six months, the Developer will advance the design of the project and take the building through the approval process, targeting a closing of construction debt and Opportunity Zone equity by mid-year 2020.

State Capitol

TRAX Main Line CBD and Periphery 400 South UTA FrontRunner High-Speed Commuter Train TRAX Green Line TRAX Blue Line 154,000 ADT Intermodal 15 Hub 7 Minutes to Downtown 15 Salt Lake City 80 15

& Folsom Trail Future City Creek TRAX Green Line Jordan River Parkway Bridge 80

iver Jordan River an R Jord Jordan Riv er Parkway Tra 14,000 ADT il

Poplar Grove Boulevard

200 South

North Temple Street 76,000 ADT

80 DEVELOPMENT SITE

5 Minutes to Salt Lake City International Airport

Imagery: Google Earth/ Landsat/Copernicus

Exclusively Marketed by 170 South Main Street, Suite 1600 Kip Paul Rhett Bue Jorgi Paul Salt Lake City, Utah 84101 Vice Chairman Director Senior Associate Tel 801-322-2000 Fax 801-322-2040 cushmanwakefield.com 801-303-5555 801-303-5416 801-303-5570 [email protected] [email protected] [email protected]

©2019 Cushman & Wakefield. All rights reserved. The information contained in this communication is strictly confidential. This information has been obtained from sources believed to be reliable but has not been verified. NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE CONDITION OF THE PROPERTY (OR PROPERTIES) REFERENCED HEREIN OR AS TO THE ACCURACY OR COMPLETENESS OF THE INFORMATION CONTAINED HEREIN, AND SAME IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, WITHDRAWAL WITHOUT NOTICE, AND TO ANY SPECIAL LISTING CONDITIONS IMPOSED BY THE PROPERTY OWNER(S). ANY PROJECTIONS, OPINIONS OR ESTIMATES ARE SUBJECT TO UNCERTAINTY AND DO NOT SIGNIFY CURRENT OR FUTURE PROPERTY PERFORMANCE. path: 1- Projects/Paul, K/1 - Flyers/1528wNorthTemple