The Offering Investment Summary Alexan offers investors an opportunity to purchase a well-positioned, strong-performing Alexan Shadow Creek Ranch Class A multi-housing asset with value-add potential in Pearland, the fastest-growing city in the Houston 11900 Shadow Creek Parkway metropolitan area. Pearland is an affluent suburb with a high quality of life and is home to more Medical Pearland, TX 77584 Center employees than any other area in Houston. It is also a barriers-to-entry market with zoning and a very Price Market Avg Unit Size SF 934 limited multi-housing construction pipeline. Offering Terms All Cash or Loan Assumption Avg Market Rent/Unit $1,304 Alexan Shadow Creek Ranch was originally constructed in 2009 and averaged 97% occupancy and 4% rent Year Constructed 2009 Avg Market Rent/SF $1.40 growth in 2015. The 392-unit, garden-style community is the first community visible when traveling west on Shadow Creek Parkway from Highway 288. Located at the north end of the 3,500-acre Shadow Creek Ranch Total Units 392 Total Acreage 20.44± master-planned development and directly south of the 1,200-acre Lower Kirby Urban District, it is at the focal Total SF 366,308 Leased | Occupied 96.4% | 95.4% point of tremendous growth, exemplified by eight major employers opening new facilities over the last two years within five minutes of the community.

Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp. a Texas licensed real estate broker (“HFF”) Alexan Shadow Creek Ranch Alexan Shadow Creek Ranch is positioned 14 miles south of in Shadow Creek Ranch, a 3,500-acre master-planned, mixed-use development of Pearland, Texas. The community is just west of Highway 288 with direct access to the widely-utilized transportation corridor. Not only is Alexan Shadow Creek Ranch convenient to Pearland’s largest employers, but it has the best location to benefit from existing and planned future commercial development for the city. Additionally, residents are within minutes of multiple retail centers, new and expanding medical facilities and highly regarded schools.

PEARLAND TOWN CENTER (UNDER CONSTRUCTION)

BROADWAY STREET

SILVERLAKE SHADOW CREEK VILLAGE SHOPPING RANCH TOWN CENTER CENTER MEMORIAL HERMANN CONVENIENT CARE CENTER & SHADOW CREEK RANCH PEARLAND MEDICAL (3,500-ACRE MASTER-PLANNED COMMUNITY) CAMPUS

SHADOW CREEK CROSSING CHAMBERLAIN COLLEGE OF NURSING THE CROSSING SECOND BAPTIST CHURCH @ 288 HERITAGE CHRISTIAN ACADEMY JAX BURGERS DOMINO’S

KIRBY DRIVE

MAREK REFLECTION BAY REFLECTION BAY DRIVE ELEMENTARY SCHOOL SHOPPING CENTER PEARLAND CLEANERS BRIGHT LEARNERS ACADEMY BIKRAM YOGA

WAY

K PARK W CREE SHADO ACING SN F OU W T H IE V SHADOW CREEK CENTRE THE COLONNADES AT DOLLAR TREE REFLECTION BAY LOCAL DENTIST, NAIL SALON (SKILLED NURSING)

INVESTMENT SALES INQUIRIES FINANCING INQUIRIES

J. Todd Stewart Todd Marix Chris D. Curry J.C. Clemens Jr. Tyler Ford Senior Managing Director Senior Managing Director Managing Director Associate Director Associate Director [email protected] [email protected] [email protected] [email protected] [email protected] 713 852 3516 713 852 3457 713 852 3466 713 852 3491 713 852 3517

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HFF has been engaged by the owner of the property to market it for sale. Information concerning the property described herein has been obtained from sources other than HFF and we make no representations or warranties, express or implied, as to the accuracy or completeness of such information. Any and all references to age, square footage, income, expenses and any other property specific information are approximate. Any opinions, assumptions, or estimates contained herein are projections only and used for illustrative purposes and may be based on assumptions or due diligence criteria different from that used by a buyer. Buyers should conduct their own independent investigation and rely on those results. The information contained herein is subject to change.