Philadelphia - Suburban New Construction & Proposed Multifamily Projects 3Q20

ID PROPERTY UNITS 75 Derstine Run Phase IV 60 76 Forty Foot Road Subdivision 326 2 Weatherstone Flats 142 70 77 Oak Drive 133 6 The Gathering at University Village 147 78 Oak Drive Town Homes 62 8 Residences at the Promenade 402 79 Willow Grove Air Base 11 Hanover Exton Square 342 Redevelopment 500 12 J Creekside at Exton 291 80 Longfield Farm Townhomes 58 Total Lease Up 1,324 81 Bridgeview 250 82 King of Prussia Mall Renovation 50 15 200 Witmer Road 256 83 104 Witmer 133 21 Total Under Construction 256 84 1125 Virginia Drive 300 89 Lloyd Farm / Wild Meadows Age 120 Qualified Residential Community 71 21 Sellersville Senior Residences 50 35 90 Route 30 324 22 New Hanover Town Center 734 91 Route 30 Development 230 34 23 Sanatoga Green 310 6 Total Prospective 3,334 22 24 Luxor at Phoenixville 205 78 25 Residences at 586 75 77 26 Lansdale Luxor 205 74 76 27 27 Mainland Pointe 60 28 28 Walnut Crossing 141

29 Ambler Crossings 115 23 26 30 2501 Renaissance Blvd 290 31 2901 Renaissance Blvd 300 79 32 Kennedy Kenrick Senior 206 33 Montgomery Park Phase II 50 73 34 263 N Main Street 59 15 35 The Intelligencer 220 25 83 38 Exton Knoll 324 8 39 Lochiel Farm 141 29 40 The Pendleton at Malvern 225 80 24 32 84 72 33 41 The Royal Worthington Phase II 250 2 42 The Royal Worthington Phase III 250 81 43 Swedesford Plaza Redevelopment 250 68 Total Planned 4,971 82 30 31 68 19 Depot Street 320 43 70 Broad Street 62 41 71 Holly Road 204 42 72 Phoenixville Senior Housing 50 11 40 39 38 73 Trappe Village 96 12 90 74 Derstine Reserve 56 91 89 2 mi Source: Yardi Matrix

LEGEND Lease-Up Under Construction Planned Prospective - Suburban New Construction & Proposed Multifamily Projects 3Q20

36 85 ID PROPERTY UNITS

4 Haddon Point 240 86 10 The Neil 144 88 Total Lease Up 384 14

87 14 The Reserve at Crosswicks 272 61 16 202 Park 192 18 Pearl Pointe 184 104 19 Residences at Renaissance Square 338 Total Under Construction 986 67 103

36 Prickett Run At Edgewood 200 18 60 57 Victory Commons Townhomes 81 58 Harvest House 52 59 Mount Holly Gardens 150 60 Gerard's Riverview 66 61 Ocean Spray Plant Redevelopment 296 64 Hampton Road 252 65 Victory West 370 59 66 The Residences at Wexford 300 67 Cedar Lane 240 4 66 Total Planned 2,007 95 69 102 69 Cramer Hill Family 75 101 64 10 85 Arcadia Green 76 86 Lennar Orchard Tract 111 16 87 New Falls Road Residential Development 58 88 614 19 57 58 95 Residences at Marple Preserve 140 65 101 Lanning Square Washington & West Street 100 102 307 Harper Drive 75 103 Burlington Dream 360 104 Rivergate Bordentown Waterfront Phase II 175 Total Prospective 1,784 2 mi Source: Yardi Matrix

LEGEND Lease-Up Under Construction Planned Prospective Philadelphia - Suburban New Construction & Proposed Multifamily Projects 3Q20

92 ID PROPERTY UNITS 93

1 The Falls 346

3 The Reserve at Westown 264 94 5 The Flats at Kennett 175 44 7 2000 Avenue 166 9 Rockwood Phase II 258 13 West Creek Village Phase IV 140 Total Lease Up 1,349 5 37

17 The Cooper 92 96 51 Total Under Construction 92 97

20 Flats IV 52 49 37 State Street Lofts 187 1 44 Franklin Mint Property 302 7 98 50 52 45 268 East Main Street 56 54 20 56 46 Avon Site Redevelopment 220 17 53 47 College Square Redevelopment 306 100 48 Dickinson Housing Development 91 49 Avenue North 335 50 Barley Mill Plaza Redevelopment 113 46 45 47 51 Brandywine Country Club 360 48

52 517 North Shipley Street 208 13 53 Quaker Arts 53 54 Riverside Redevelopment 74 9 55 Glasgow Farm 330 62 56 Tavistock Townhomes 78 99 55 62 Rudy Park Redevelopment 150 63 Southfields of Elkton Mixed-Use 1,000 63 Total Planned 3,915

92 Crebilly Farm II 319 93 Matlack Street Apartment Building 205 94 Promenade at Granite Run 208 96 Waterfront Redevelopment 225 97 The Concord Phase II 166 98 Paladin Club XII 64 99 Rockwood Phase III 180 100 Richwood Village 1,200 Total Prospective 2,567 3 2 mi Source: Yardi Matrix

LEGEND Lease-Up Under Construction Planned Prospective Philadelphia - Suburban New Construction & Proposed Multifamily Projects

PERMIT FORECASTED START OF ID PROPERTY NAME ADDRESS CITY STATE ZIP STATUS UNITS SUBMARKET DATE COMPLETION DATE RENT-UP

1 The Falls 200 Mill Road Wilmington DE 19806 Lease-Up 346 Wilmington - West 08/31/2019 01/31/2022 07/23/2020 2 Weatherstone Flats 240 Windgate Drive Chester Springs PA 19425 Lease-Up 142 Glenmoore 06/30/2019 02/28/2021 07/15/2020 3 The Reserve at Westown 500 Westown Way Middletown DE 19709 Lease-Up 264 Middletown 05/01/2019 01/31/2021 05/01/2020 4 Haddon Point 2100 Haddonfield Road Pennsauken NJ 08110 Lease-Up 240 Cinnaminson 09/30/2017 01/31/2021 11/01/2018 5 The Flats at Kennett 603 Millers Hill Kennett Square PA 19348 Lease-Up 175 Oxford - Kennett Square 10/05/2019 12/31/2020 08/17/2020 6 The Gathering at University Village 409 East Butler Avenue New Britain PA 18901 Lease-Up 147 Doylestown 08/01/2019 12/31/2020 06/12/2020 7 2000 Pennsylvania Avenue 2000 Pennsylvania Avenue Wilmington DE 19806 Lease-Up 166 Wilmington - West 05/01/2018 12/31/2020 06/01/2020 8 Residences at the Promenade 200 Dryden Road Dresher PA 19025 Lease-Up 402 Hatboro - Warminster 01/29/2019 12/31/2020 04/17/2019 9 Rockwood Phase II 100 Cindy Drive Newark DE 19702 Lease-Up 258 Bear 11/01/2016 11/30/2020 02/01/2017 10 The Neil 503 Fellowship Road Mount Laurel NJ 08054 Lease-Up 144 Marlton - Medford 07/01/2019 10/31/2020 08/10/2020 11 Hanover Exton Square 181 North Pottstown Pike Exton PA 19341 Lease-Up 342 Exton - Downingtown 01/31/2019 10/31/2020 03/30/2020 12 J Creekside at Exton 360 Creamery Way Exton PA 19341 Lease-Up 291 Exton - Downingtown 12/11/2018 10/31/2020 11/18/2019 13 West Creek Village Phase IV 1600 West Creek Village Drive Elkton MD 21921 Lease-Up 140 Cecil County 01/01/2014 10/31/2020 09/01/2014 Total Lease-Up 3,057 14 The Reserve at Crosswicks 8000 Bowery Lane Bordentown NJ 08505 Under Construction 272 Bordentown - Browns Mills 09/24/2020 07/31/2021 15 200 Witmer Road 200 Witmer Road Horsham PA 19044 Under Construction 256 Hatboro - Warminster 11/27/2019 05/31/2021 16 202 Park 202 Park Blvd Cherry Hill NJ 08002 Under Construction 192 Cherry Hill 01/06/2020 03/31/2021 17 The Cooper 210 North Market Street Wilmington DE 19801 Under Construction 92 Wilmington - Central 02/07/2020 02/28/2021 18 Pearl Pointe High Street & Pearl Blvd Burlington NJ 08016 Under Construction 184 Willingboro 06/13/2018 11/30/2020 19 Residences at Renaissance Square 101 East Route 70 Marlton NJ 08053 Under Construction 338 Marlton - Medford 10/01/2018 10/31/2020 Total Under Construction 1,334 20 Flats IV 4th Street & North Bayard Avenue Wilmington DE 19805 Planned 52 21 Sellersville Senior Residences East Clymer Avenue & Diamond Street Sellersville PA 18960 Planned 50 Perkasie 22 New Hanover Town Center 1886 Swamp Pike Gilbertsville PA 19525 Planned 734 Pottstown 23 Sanatoga Green 313 Evergreen Road Pottstown PA 19464 Planned 310 Pottstown 24 Luxor at Phoenixville 723 Wheatland Street Phoenixville PA 19460 Planned 205 Phoenixville Residences at Upper Providence 25 Arcola Road & South Collegeville Road PA 19426 Planned 586 Audubon Providence Town Center Township 26 Lansdale Luxor 117 South Broad Street Lansdale PA 19446 Planned 205 Lansdale Lower Salford 27 Mainland Pointe 210 Main Street PA 19438 Planned 60 Lansdale Township 28 Walnut Crossing 43 West 3rd Street Lansdale PA 19446 Planned 141 Lansdale 29 Ambler Crossings 201 South Chestnut Street Ambler PA 19002 Planned 115 Ambler 30 2501 Renaissance Blvd 2501 Renaissance Blvd King of Prussia PA 19406 Planned 290 Norristown 31 2901 Renaissance Blvd 2901 Renaissance Blvd King of Prussia PA 19406 Planned 300 Norristown 32 Kennedy Kenrick Senior 250 East Johnson Hwy Norristown PA 19401 Planned 206 Norristown 33 Montgomery Park Phase II 1301 Powell Street Norristown PA 19401 Planned 50 Norristown 34 263 N Main Street 263 North Main Street Doylestown PA 18901 Planned 59 Doylestown 35 The Intelligencer 333 North Broad Street Doylestown PA 18901 Planned 220 Doylestown Source: Yardi Matrix Yardi Source: Philadelphia - Suburban New Construction & Proposed Multifamily Projects

PERMIT FORECASTED START OF ID PROPERTY NAME ADDRESS CITY STATE ZIP STATUS UNITS SUBMARKET DATE COMPLETION DATE RENT-UP

36 Prickett Run At Edgewood 930 Stony Hill Road Morrisville PA 19067 Planned 200 Feasterville - Langhorne 37 State Street Lofts 600 West State Street Kennett Square PA 19348 Planned 187 Oxford - Kennett Square 38 Exton Knoll 921 East Lincoln Hwy Exton PA 19341 Planned 324 Exton - Downingtown 39 Lochiel Farm 891 East Lincoln Hwy Exton PA 19341 Planned 141 Exton - Downingtown 40 The Pendleton at Malvern 554 Lancaster Avenue Malvern PA 19355 Planned 225 Malvern 41 The Royal Worthington Phase II 45 Creekside Lane Malvern PA 19355 Planned 250 Malvern 42 The Royal Worthington Phase III 45 Creekside Lane Malvern PA 19355 Planned 250 Malvern 43 Swedesford Plaza Redevelopment 400 Swedesford Road Berwyn PA 19312 Planned 250 Berwyn 44 Franklin Mint Property 1408 West Media PA 19063 Planned 302 Media 45 268 East Main Street 268 East Main Street Newark DE 19711 Planned 56 Newark 46 Avon Site Redevelopment 2100 Ogletown Road Newark DE 19711 Planned 220 Newark 47 College Square Redevelopment 100 College Square Newark DE 19711 Planned 306 Newark 48 Dickinson Housing Development 404 Academy Street Newark DE 19716 Planned 91 Newark 49 Avenue North 1800 Concord Pike Wilmington DE 19803 Planned 335 Wilmington - West 50 Barley Mill Plaza Redevelopment DE-141 & Lancaster Pike Wilmington DE 19805 Planned 113 Wilmington - West 51 Brandywine Country Club 2822 Shipley Road Wilmington DE 19810 Planned 360 Wilmington - West 52 517 North Shipley Street 517 North Shipley Street Wilmington DE 19801 Planned 208 Wilmington - Central 53 Quaker Arts 801 West Street Wilmington DE 19801 Planned 53 Wilmington - Central 54 Riverside Redevelopment 1400 Todds Lane Wilmington DE 19802 Planned 74 Wilmington - Central 55 Glasgow Farm 2467 Pulaski Hwy Newark DE 19702 Planned 330 Bear 56 Tavistock Townhomes Center Square Road & Tavistock Drive Woolwich Township NJ 08085 Planned 78 Bridgeport - Woodstown 57 Victory Commons Townhomes 1223 Haddonfield-Berlin Road Cherry Hill NJ 08034 Planned 81 Haddonfield 58 Harvest House 52 East Main Street Marlton NJ 08053 Planned 52 Marlton - Medford 59 Mount Holly Gardens NEC Mt. Holly Avenue Bypass & Rancocas Road Mount Holly NJ 08060 Planned 150 Mount Holly 60 Gerard's Riverview Bordentown Road & US Route 130 Florence Township NJ 08016 Planned 66 Willingboro 61 Ocean Spray Plant Redevelopment 104 East Park Street Bordentown NJ 08505 Planned 296 Bordentown - Browns Mills 62 Rudy Park Redevelopment 150 East Main Street Elkton MD 21921 Planned 150 Cecil County 63 Southfields of Elkton Mixed-Use Augustine Herman Hwy & Frenchtown Road Elkton MD 21921 Planned 1,000 Cecil County 64 Hampton Road Cuthbert Blvd & Hampton Road Cherry Hill NJ 08002 Planned 252 Cherry Hill 65 Victory West 110 Woodcrest Road Cherry Hill NJ 08003 Planned 370 Marlton - Medford 66 The Residences at Wexford 1788 State Route 38 Lumberton NJ 08048 Planned 300 Mount Holly 67 Cedar Lane US Route 130 & Cedar Lane Burlington NJ 08016 Planned 240 Willingboro Total Planned 10,893 68 19 Depot Street 19 Depot Street Bridgeport PA 19405 Prospective 320 69 Cramer Hill Family North 24th Street & Hayes Avenue Camden NJ 08105 Prospective 75 70 Broad Street 1409 West Broad Street Quakertown PA 18951 Prospective 62 Perkasie 71 Holly Road Holly Road & Industrial Drive Gilbertsville PA 19525 Prospective 204 Pottstown 72 Phoenixville Senior Housing 115 Buchanan Street Phoenixville PA 19460 Prospective 50 Phoenixville Source: Yardi Matrix Yardi Source: Philadelphia - Suburban New Construction & Proposed Multifamily Projects

PERMIT FORECASTED START OF ID PROPERTY NAME ADDRESS CITY STATE ZIP STATUS UNITS SUBMARKET DATE COMPLETION DATE RENT-UP

73 Trappe Village 118 West 7th Avenue Trappe PA 19426 Prospective 96 Audubon 74 Derstine Reserve 18 Derstine Road Hatfield PA 19440 Prospective 56 Lansdale 75 Derstine Run Phase IV 84 Derstine Road Hatfield PA 19440 Prospective 60 Lansdale 76 Forty Foot Road Subdivision Forty Foot Road & McArthur Drive Hatfield PA 19440 Prospective 326 Lansdale 77 Oak Drive Harleysville Pike & Oak Drive Harleysville PA 19438 Prospective 133 Lansdale 78 Oak Drive Town Homes NEC Harleysville Pike & Oak Drive Harleysville PA 19438 Prospective 62 Lansdale 79 Willow Grove Air Base Redevelopment County Line Road & Easton Road Easton PA 19044 Prospective 500 Lansdale 80 Longfield Farm Townhomes Butler Pike & West Skippack Pike Norristown PA 19405 Prospective 58 Ambler 81 Bridgeview 5 West Front Street Bridgeport PA 19405 Prospective 250 Norristown 82 King of Prussia Mall Renovation 160 North Gulph Road Philadelphia PA 19110 Prospective 50 Norristown 83 104 Witmer 104 Witmer Road Horsham PA 19044 Prospective 133 Hatboro - Warminster 84 1125 Virginia Drive 1125 Virginia Drive Fort Washington PA 19034 Prospective 300 Hatboro - Warminster 85 Arcadia Green Buck Road & Newtown Bypass Newtown Township PA 18940 Prospective 76 Feasterville - Langhorne 86 Lennar Orchard Tract State Highway 295 & Woodbourne Road Langhorne PA 19047 Prospective 111 Feasterville - Langhorne New Falls Road 87 7405 New Falls Road Levittown PA 19055 Prospective 58 Fairless Hills - Morrisville Residential Development 88 Oxford Valley Mall 1922 4th Street Langhorne PA 19047 Prospective 614 Fairless Hills - Morrisville Lloyd Farm / Wild Meadows Age 89 32 East Lancaster Avenue Downingtown PA 19335 Prospective 120 Exton - Downingtown Qualified Residential Community 90 Route 30 Exton Bypass & Pottstown Pike Exton MD 19341 Prospective 324 Exton - Downingtown 91 Route 30 Development Lancaster Avenue & Woodbine Road Caln Township PA 19335 Prospective 230 Exton - Downingtown 92 Crebilly Farm II South New Street & West Rosedale Avenue West Chester PA 19382 Prospective 319 West Chester 93 Matlack Street Apartment Building 956 South Matlack Street West Chester PA 19382 Prospective 205 West Chester 94 Promenade at Granite Run 1067 West Baltimore Pike Media PA 19063 Prospective 208 Broomall 95 Residences at Marple Preserve Reed Road & Sproul Road Marple Township PA 19008 Prospective 140 Broomall 96 Waterfront Redevelopment West 2nd Street & Highland Avenue Chester PA 19013 Prospective 225 Chester 97 The Concord Phase II 3575 Silverside Road Wilmington DE 19810 Prospective 166 Wilmington - West 98 Paladin Club XII 400 Paladin Drive Wilmington DE 19802 Prospective 64 Claymont - Wilmington North 99 Rockwood Phase III 100 Cindy Drive Newark DE 19702 Prospective 180 Bear 100 Richwood Village SWC Aura Road & Mullica Hill Road Mullica Hill NJ 08062 Prospective 1,200 Bridgeport - Woodstown Lanning Square 101 SWC Washington Street & West Street Camden NJ 08103 Prospective 100 Camden - Pennsauken Township Washington & West Street 102 307 Harper Drive 307 Harper Drive Moorestown NJ 08057 Prospective 75 Cinnaminson 103 Burlington Dream 1101 East Pearl Street Burlington NJ 08016 Prospective 360 Willingboro Rivergate Bordentown 104 500 Bluff View Circle Bordentown NJ 08505 Prospective 175 Bordentown - Browns Mills Waterfront Phase II Total Prospective 7,685

TOTAL PHILADELPHIA - SUBURBAN 22,969 Source: Yardi Matrix Yardi Source:

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