Minneapolis Urban New Construction & Proposed Multifamily Projects 3Q19

ID PROPERTY UNITS 1 Elmwood, The 70 4 Aria Edina 184 8 Minnetonka Hills Phase II 78 9 Rize at Opus Park 322 11 Nolan Mains 100 Total Lease Up 754

18 Urban Park Phase II 61 19 West Lake Street 200 22 Henley 74 26 Excelsior Blvd & Monterey Drive 148 42 Avidor 165 Total Under Construction 648

51 Novo 183 52 Millennium at Southdale 227 61 Boulevard, The 277 62 Crossroads 135 63 Mariner, The 246 65 Via 299 Total Planned 1,367

90 3404 List Place 195 125 3650 Hazelton 186 126 66th Street West & Xerxes Avenue 145 South Phase II 127 76th Street 80 128 77th Street 325 129 Amundson Flats 115 130 Boulevard Phase II, The 320 131 Grandview 140 132 Promenade on France 200 133 Beltline Boulevard 183 176 4916 France 110 177 France Avenue - US Bank 200 178 325 Blake Road 465

Total Prospective 2,664 2000 ft Source: Yardi Matrix

LEGEND Lease-Up Under Construction Planned Prospective Urban New Construction & Proposed Multifamily Projects 3Q19

ID PROPERTY UNITS 5 Irvine Exchange 175 6 Height, The 69 Total Lease Up 244

24 O'Gara's Redevelopment 163 25 Winslow, the 172 30 Morningstar 95 35 Grove, The 118 Total Under Construction 548

55 Waterford Bay at St. Paul 242 57 Snelling - Midway Site 620 58 161 Concord Exchange North 68 59 Westview Park 58 66 West Side Flats Phase II 264 Total Planned 1,252

137 First National Bank Building 170 Redevelopment 138 Kellogg Boulevard 90 139 Seven Corners Gateway 144 140 St. Paul Riverfront Mixed-Use 325 141 Waterford Bay at St Paul 250 142 60 North Avon 100 143 Cathedral Hill 175 144 Rice Street Sears Redevelopment 800 145 University Avenue 61 146 Rivoli Bluff 100 147 Fillmore West 640 148 Water Street West 137 149 2751 Shepard Road 211 150 Sibley Plaza 120 151 441 Snelling Avenue North 120 153 Carroll Avenue 70 154 Pitch, The 156 157 Payne Avenue 75 158 Thompson Oaks Golf Course 150 159 Highway 13 Phase II 69 160 Lilydale Senior Housing 100

Total Prospective 4,063 2000 ft Source: Yardi Matrix

LEGEND Lease-Up Under Construction Planned Prospective Minneapolis Urban New Construction & Proposed Multifamily Projects 3Q19

ID PROPERTY UNITS 2 OX-OP Residences 153 10 Chamberlain 284 Total Lease Up 437

20 4th Street Lofts 169 41 Cedar Point 170 Total Under Construction 339

48 2407 University Avenue SE 200 49 Art & Architecture 137 50 Brickhouse Lofts 315 56 Raymond Station 100 67 Ford Assembly Plant Site 3,800 Redevelopment Total Planned 4,552

79 Midtown Crossing 55 82 38th Street 63 83 Bloomington & Lake Street 54 84 L&H Station Phases II - IV 400 107 800 Washington Project, The 127 111 Cedar High - 1627 Renovation 116 115 Malcolm Yards 300 118 Hiawatha Avenue 85 119 5310 Minnehaha 108 120 125 152 700 Emerald Street Phase II 258 156 Pirtek Building 140 169 38th Street Station Phase II 145 175 Cedar Point II 230

Total Prospective 2,206 2000 ft Source: Yardi Matrix

LEGEND Lease-Up Under Construction Planned Prospective Minneapolis Urban New Construction & Proposed Multifamily Projects 3Q19

ID PROPERTY UNITS 28 Ridgedale Executive 78 32 Theater Garage Marquee 111 33 Bird Town Flats 152 39 Northside Artspace Lofts 100 43 Xenia, The 358 Total Under Construction 799

47 H. Alden Smith House 89 53 Ridgedale Drive 168 54 Platia Place 149 60 Upper Harbor Terminal 530 Redevelopment 64 Marsh Run 175 Total Planned 1,111

93 FreedomWorks Housing 50 Development 94 Washington Avenue 350 121 Brooklyn Center 575 122 Primo Corner Redevelopment 100 134 Central Park West Phase II 164 135 3600 France Avenue 194 136 Four Seasons Mall Redevelopment 430 172 Satori 112 173 Satori Phase II and III 96 174 West Broadway Curve 69 Redevelopment

Total Prospective 2,140 2000 ft Source: Yardi Matrix

LEGEND Lease-Up Under Construction Planned Prospective Minneapolis Urban New Construction & Proposed Multifamily Projects 3Q19

ID PROPERTY UNITS 89 3220 Girard Avenue South 76 91 Buzza Lofts of Uptown Phase II 135 3 1400 Loring 232 92 Girard Avenue 76 7 Tula 71 12 City Club Apartments CBD 307 104 1101 56 Minneapolis 105 1319 4th Street SE 300 Total Lease Up 610 106 15th Street South East 370 108 815 6th Avenue 51 13 Weidner Elliot Park 245 109 9th Street 61 14 Sons of Norway Redevelopment 317 110 American Spirit on 9th 88 15 701 Central Avenue 159 112 Corner 57 16 5th & 7th Street 175 113 General Mills 304 17 Odin 335 114 General Mills Phase II 270 23 River Loop 218 116 Maya Commons 50 31 600 5th Avenue 107 117 Uncommon 114 34 Vicinity, The 118 168 N Washington & N 5th Avenue 319 37 Second & Second 156 170 Lake Street Phase II & III 203 40 2644 80 171 West Lake Street & James Avenue South 127 Total Under Construction 1,910 Total Prospective 5,849

44 240 Hennepin Tower 355 45 Bassett Creek East 139 46 Downtown East Phase V 342 Total Planned 836

68 102 North 1st Street 155 69 12th Street Tower 350 70 1713 Nicollet Avenue 147 71 240 Park Avenue 204 72 590 Park Street 92 73 Century Plaza 80 74 Duffey Lofts 200 75 North Loop Green 360 76 Portland & Washington 250 77 Portland Avenue 330 78 Ritz Block Phase II 370 80 1st Avenue South 51 81 28th and Garfield 66 85 West 26th Street & Blaisdell Ave 147 86 1116 Lake Street 180 87 2715 Girard Avenue 119

88 29 Bryant 91 1000 ft Source: Yardi Matrix

LEGEND Lease-Up Under Construction Planned Prospective Minneapolis Urban New Construction & Proposed Multifamily Projects 3Q19

ID PROPERTY UNITS 27 N & E 93 38 2323 Jackson 65 Total Under Construction 158

95 14th Avenue Flats 175 96 1717 Central Avenue 78 97 Broadway Street 108 98 Gateway, The 129 99 Johnson Street 155 100 LoMa 155 101 Main Street West 113 102 Main Street, The 288 103 TE Miller 112 123 Lowry Avenue 823

Total Prospective 2,136 500 ft Source: Yardi Matrix

LEGEND Lease-Up Under Construction Planned Prospective Minneapolis Urban New Construction & Proposed Multifamily Projects 3Q19

ID PROPERTY UNITS 21 Trails Edge 152 29 Commerce Park 286 36 Hendrickson, The 66 Total Under Construction 504

124 Silver Lake Road 498 155 Luther Seminary 120 161 Amber Union Workforce Housing 106 162 Edison 100 163 Fairview Avenue North 117 164 Village, The 425 165 Midtown Village 358 166 White Bear Avenue 99 167 7th Avenue East Development 88

Total Prospective 1,911 1 mi Source: Yardi Matrix

LEGEND Lease-Up Under Construction Planned Prospective Minneapolis Urban New Construction and Proposed Multifamily Projects

PERMIT FORECASTED START OF ID PROPERTY NAME ADDRESS CITY STATE ZIP STATUS UNITS SUBMARKET DATE COMPLETION DATE RENT-UP 1 Elmwood, The 5605 West 36th Street St. Louis Park MN 55416 Lease-Up 70 St. Louis Park 04/30/2019 04/30/2020 09/27/2019 2 OX-OP Residences 1111 South Washington Avenue Minneapolis MN 55415 Lease-Up 153 Minneapolis - Central 06/01/2019 04/30/2020 08/30/2019 3 1400 Loring 1400 Nicollet Avenue Minneapolis MN 55403 Lease-Up 232 Minneapolis - Central 12/31/2018 04/30/2020 04/08/2019 4 Aria Edina 3200 Southdale Circle Minneapolis MN 55435 Lease-Up 184 Edina/Eden Prairie 08/01/2018 01/31/2020 05/31/2019 5 Irvine Exchange 200 Exchange Street St. Paul MN 55102 Lease-Up 175 St. Paul - West Seventh 02/28/2018 11/30/2019 04/30/2019 6 Height, The 2180 Hwy 13 Mendota Heights MN 55120 Lease-Up 69 Mendota 10/31/2018 10/31/2019 07/31/2019 7 Tula 3009 Holmes Avenue Minneapolis MN 55408 Lease-Up 71 Minneapolis - Calhoun Isle 08/07/2017 10/31/2019 06/30/2019 8 Minnetonka Hills Phase II 2800 Jordan Avenue Minnetonka MN 55305 Lease-Up 78 Minnetonka 10/01/2018 10/31/2019 06/30/2019 9 Rize at Opus Park 10101 Bren Road East Minnetonka MN 55343 Lease-Up 322 Minnetonka 10/02/2017 10/31/2019 06/14/2019 10 Chamberlain 6745 18th Avenue South Richfield MN 55423 Lease-Up 284 Richfield 08/20/2018 10/31/2019 05/31/2019 11 Nolan Mains 3945 Market Street Edina MN 55424 Lease-Up 100 Edina/Eden Prairie 06/04/2018 10/31/2019 04/30/2019 12 City Club Apartments CBD Minneapolis 95 South 10th Street Minneapolis MN 55403 Lease-Up 307 Minneapolis - Central 05/14/2018 10/31/2019 03/01/2019 Total Lease-Up 2,045 13 Weidner Elliot Park 1400 Park Avenue Minneapolis MN 55404 Under Construction 245 Minneapolis - Central 09/01/2019 06/30/2021 14 Sons of Norway Redevelopment 1455 West Lake Street Minneapolis MN 55408 Under Construction 317 Minneapolis - Calhoun Isle 03/31/2019 05/31/2021 15 701 Central Avenue 701 Central Avenue NE Minneapolis MN 55413 Under Construction 159 Minneapolis - University 06/01/2019 02/28/2021 16 5th & 7th Street 5th Avenue South & South 7th Street Minneapolis MN 55415 Under Construction 175 Minneapolis - Central 12/31/2018 01/31/2021 17 Odin 401 1st Avenue NE Minneapolis MN 55413 Under Construction 335 Minneapolis - University 03/08/2019 10/31/2020 18 Urban Park Phase II 3601 Phillips Pkwy Minneapolis MN 55426 Under Construction 61 St. Louis Park 10/01/2019 10/31/2020 19 West Lake Street 3100 West Lake Street Minneapolis MN 55416 Under Construction 200 Minneapolis - Calhoun Isle 06/30/2019 09/30/2020 20 4th Street Lofts 2813 SE 4th Street Minneapolis MN 55414 Under Construction 169 Minneapolis - University 04/30/2019 09/30/2020 21 Trails Edge 3000 Country View Drive Maplewood MN 55109 Under Construction 152 Maplewood 05/07/2019 07/31/2020 22 Henley 6324 Lyndale Avenue South Minneapolis MN 55423 Under Construction 74 Richfield 07/01/2019 05/31/2020 23 River Loop 800 West River Pkwy Minneapolis MN 55401 Under Construction 218 Minneapolis - Central 04/30/2019 04/30/2020 24 St. Paul - Macalester- O'Gara's Redevelopment 164 North Snelling Avenue St. Paul MN 55104 Under Construction 163 Groveland 04/30/2019 04/30/2020 25 Winslow, the 1635 Marthaler Lane St. Paul MN 55118 Under Construction 172 West St. Paul 04/30/2019 04/30/2020 26 Excelsior Blvd & Monterey Drive 3743 Monterey Drive St. Louis Park MN 55416 Under Construction 148 St. Louis Park 03/31/2019 04/30/2020 27 N & E 1301 Marshall Street NE Minneapolis MN 55413 Under Construction 93 Minneapolis - Northeast 05/31/2019 03/31/2020 28 Ridgedale Executive 12501 Ridgedale Drive Minnetonka MN 55305 Under Construction 78 Minnetonka 04/30/2019 03/31/2020 29 Commerce Park 7th Avenue East & Century Avenue North St. Paul MN 55109 Under Construction 286 Oakdale - North 12/31/2018 03/31/2020 30 Morningstar 739 Selby Avenue St. Paul MN 55104 Under Construction 95 St. Paul - Summit-University 12/31/2018 02/29/2020

Source: Yardi Matrix Minneapolis Urban New Construction and Proposed Multifamily Projects

PERMIT FORECASTED START OF ID PROPERTY NAME ADDRESS CITY STATE ZIP STATUS UNITS SUBMARKET DATE COMPLETION DATE RENT-UP 31 600 5th Avenue 625 South 4th Avenue Minneapolis MN 55415 Under Construction 107 Minneapolis - Central 10/15/2018 01/31/2020 32 Theater Garage Marquee 2004 Lyndale Avenue South Minneapolis MN 55405 Under Construction 111 Minneapolis - Calhoun Isle 01/31/2019 01/31/2020 33 Bird Town Flats 3730 West Broadway Avenue Robbinsdale MN 55422 Under Construction 152 Golden Valley 11/05/2018 01/31/2020 34 Vicinity, The 205 Park Avenue Minneapolis MN 55415 Under Construction 118 Minneapolis - Central 08/06/2018 01/31/2020 35 Grove, The 246 Snelling Avenue South St. Paul MN 55105 Under Construction 118 St. Paul - Highland 04/30/2019 12/31/2019 36 Hendrickson, The 1750 Larpenteur Avenue West Falcon Heights MN 55113 Under Construction 66 Falcon Heights 04/30/2019 12/31/2019 37 Second & Second 128 North 2nd Street Minneapolis MN 55401 Under Construction 156 Minneapolis - Central 11/01/2018 11/30/2019 38 2323 Jackson 2323 NE Jackson Street Minneapolis MN 55418 Under Construction 65 Minneapolis - Northeast 12/31/2018 11/30/2019 39 Northside Artspace Lofts 221 Irving Avenue North Minneapolis MN 55405 Under Construction 100 Minneapolis - Near North 10/31/2018 11/30/2019 40 2644 Nicollet Avenue 2644 Nicollet Avenue Minneapolis MN 55408 Under Construction 80 Minneapolis - Powderhorn 10/31/2018 10/31/2019 41 Cedar Point 6499 17th Avenue South Richfield MN 55423 Under Construction 170 Richfield 08/31/2018 10/31/2019 42 Avidor 5150 Eden Avenue Edina MN 55436 Under Construction 165 Edina/Eden Prairie 03/05/2018 10/31/2019 43 Xenia, The 700 Xenia Avenue South Golden Valley MN 55416 Under Construction 358 Golden Valley 01/08/2018 10/31/2019 Total Under Construction 4,906 44 240 Hennepin Tower 240 Hennepin Avenue Minneapolis MN 55401 Planned 355 Minneapolis - Central 45 Bassett Creek East 747 North 3rd Street Minneapolis MN 55401 Planned 139 Minneapolis - Central 46 Downtown East Phase V 700 South 4th Street Minneapolis MN 55415 Planned 342 Minneapolis - Central 47 H. Alden Smith House 1403 Harmon Place Minneapolis MN 55403 Planned 89 Minneapolis - Central 48 2407 University Avenue SE 2407 University Avenue SE Minneapolis MN 55414 Planned 200 Minneapolis - University 49 Art & Architecture 3338 University Avenue SE Minneapolis MN 55414 Planned 137 Minneapolis - University 50 Brickhouse Lofts 150 26th Avenue SE Minneapolis MN 55414 Planned 315 Minneapolis - University 51 Novo 2400 66th Street West Richfield MN 55423 Planned 183 Richfield 52 Millennium at Southdale NWC West 66th Street & Xerxes Avenue South Edina MN 55435 Planned 227 Edina/Eden Prairie 53 Ridgedale Drive 12421 Wayzata Blvd Minnetonka MN 55305 Planned 168 Minnetonka 54 Platia Place 9808 Wayzata Blvd St. Louis Park MN 55426 Planned 149 St. Louis Park 55 Waterford Bay at St. Paul 380 Randolph Avenue St. Paul MN 55102 Planned 242 St. Paul - West Seventh St. Paul - Lexington 56 Raymond Station 2250 University Avenue West St. Paul MN 55114 Planned 100 Hamline St. Paul - Lexington 57 Snelling - Midway Site SWC Pascal Street North & University Avenue West St. Paul MN 55104 Planned 620 Hamline 58 161 Concord Exchange North 161 Concord Exchange North South St. Paul MN 55075 Planned 68 West St. Paul 59 Westview Park 260 Marie Avenue West West St. Paul MN 55118 Planned 58 West St. Paul 60 Upper Harbor Terminal Redevelopment North Dowling Avenue & North Washington Avenue Minneapolis MN 55412 Planned 530 Brooklyn Center/Camden

Source: Yardi Matrix Minneapolis Urban New Construction and Proposed Multifamily Projects

PERMIT FORECASTED START OF ID PROPERTY NAME ADDRESS CITY STATE ZIP STATUS UNITS SUBMARKET DATE COMPLETION DATE RENT-UP 61 Boulevard, The West 74th Street & Metro Boulevard Edina MN 55439 Planned 277 Edina/Eden Prairie 62 Crossroads 7250 France Avenue South Minneapolis MN 55435 Planned 135 Edina/Eden Prairie 63 Mariner, The 10400 Bren Road East Minnetonka MN 55343 Planned 246 Minnetonka 64 Marsh Run 11706 Wayzata Blvd Hopkins MN 55305 Planned 175 Minnetonka 65 Via 5725 State Highway 7 St. Louis Park MN 55416 Planned 299 St. Louis Park 66 West Side Flats Phase II 84 Wabasha Street South St. Paul MN 55107 Planned 264 St. Paul - West Side 67 Ford Assembly Plant Site Redevelopment SEC Ford Pkwy & Blvd St. Paul MN 55116 Planned 3,800 St. Paul - Highland Total Planned 9,118 68 102 North 1st Street 120 North 1st Street Minneapolis MN 55401 Prospective 155 Minneapolis - Central 69 12th Street Tower 228 South 12th Street Minneapolis MN 55403 Prospective 350 Minneapolis - Central 70 1713 Nicollet Avenue 1713 Nicollet Avenue Minneapolis MN 55403 Prospective 147 Minneapolis - Central 71 240 Park Avenue 240 Park Avenue Minneapolis MN 55415 Prospective 204 Minneapolis - Central 72 590 Park Street 590 Park Street Minneapolis MN 55415 Prospective 92 Minneapolis - Central 73 Century Plaza 1101 3rd Avenue South Minneapolis MN 55404 Prospective 80 Minneapolis - Central 74 Duffey Lofts 508 North Washington Avenue North Minneapolis MN 55401 Prospective 200 Minneapolis - Central 75 North Loop Green S 5th Street & S 11th Avenue Minneapolis MN 55403 Prospective 360 Minneapolis - Central 76 Portland & Washington Portland Avenue & South Washington Avenue Minneapolis MN 55415 Prospective 250 Minneapolis - Central 77 Portland Avenue 813 Portland Avenue Minneapolis MN 55404 Prospective 330 Minneapolis - Central 78 Ritz Block Phase II 315 Minneapolis MN 55401 Prospective 370 Minneapolis - Central 79 Midtown Crossing 2839 11th Avenue South Minneapolis MN 55407 Prospective 55 Minneapolis - Phillips 80 1st Avenue South 2645 1st Avenue Minneapolis MN 55408 Prospective 51 Minneapolis - Powderhorn 81 28th and Garfield 601 West 28th Street Minneapolis MN 55408 Prospective 66 Minneapolis - Powderhorn 82 38th Street 2325 East 38th Street Minneapolis MN 55406 Prospective 63 Minneapolis - Powderhorn 83 Bloomington & Lake Street Bloomington Avenue & E Lake Street Minneapolis MN 55407 Prospective 54 Minneapolis - Powderhorn 84 L&H Station Phases II - IV 2225 East Lake Street Minneapolis MN 55407 Prospective 400 Minneapolis - Powderhorn 85 West 26th Street & Blaisdell Avenue West 26th Street & Blaisdell Avenue Minneapolis MN 55404 Prospective 147 Minneapolis - Powderhorn 86 1116 Lake Street 1116 West Lake Street Minneapolis MN 55408 Prospective 180 Minneapolis - Calhoun Isle 87 2715 Girard Avenue 2715 South Girard Avenue Minneapolis MN 55408 Prospective 119 Minneapolis - Calhoun Isle 88 29 Bryant 2900 Bryant Avenue South Minneapolis MN 55408 Prospective 91 Minneapolis - Calhoun Isle 89 3220 Girard Avenue South 3220 Girard Avenue South Minneapolis MN 55408 Prospective 76 Minneapolis - Calhoun Isle 90 3404 List Place 3404 List Place Minneapolis MN 55416 Prospective 195 Minneapolis - Calhoun Isle 91 Buzza Lofts of Uptown Phase II 1006 West Lake Street Minneapolis MN 55408 Prospective 135 Minneapolis - Calhoun Isle

Source: Yardi Matrix Minneapolis Urban New Construction and Proposed Multifamily Projects

PERMIT FORECASTED START OF ID PROPERTY NAME ADDRESS CITY STATE ZIP STATUS UNITS SUBMARKET DATE COMPLETION DATE RENT-UP 92 Girard Avenue 2824 Girard Avenue South Minneapolis MN 55408 Prospective 76 Minneapolis - Calhoun Isle 93 FreedomWorks Housing Development 2929 Emerson Avenue North Minneapolis MN 55411 Prospective 50 Minneapolis - Near North 94 Washington Avenue North 26th Avenue & North Washington Avenue Minneapolis MN 55411 Prospective 350 Minneapolis - Near North 95 14th Avenue Flats 854 14th Avenue NE Minneapolis MN 55413 Prospective 175 Minneapolis - Northeast 96 1717 Central Avenue 1717 Central Avenue NE Minneapolis MN 55413 Prospective 78 Minneapolis - Northeast 97 Broadway Street Broadway Street & Main Street Minneapolis MN 55415 Prospective 108 Minneapolis - Northeast 98 Gateway, The North Lowry Avenue and Marshall Street NE Minneapolis MN 55418 Prospective 129 Minneapolis - Northeast 99 Johnson Street 1501 Johnson Street Minneapolis MN 55413 Prospective 155 Minneapolis - Northeast 100 LoMa 2435 Marshall Street NE Minneapolis MN 55418 Prospective 155 Minneapolis - Northeast 101 Main Street West 1018 Main Street Minneapolis MN 55415 Prospective 113 Minneapolis - Northeast 102 Main Street, The 1011 NE Main Street Minneapolis MN 55413 Prospective 288 Minneapolis - Northeast 103 TE Miller 2201 NE Jefferson Street Minneapolis MN 55418 Prospective 112 Minneapolis - Northeast 104 1101 Hennepin Avenue 1101 Hennepin Avenue East Minneapolis MN 55414 Prospective 56 Minneapolis - University 105 1319 4th Street SE 1319 4th Street SE Minneapolis MN 55414 Prospective 300 Minneapolis - University 106 15th Street South East 407 SE 15th Avenue Minneapolis MN 55414 Prospective 370 Minneapolis - University 107 800 Washington Project, The 800 SE Washington Avenue Minneapolis MN 55414 Prospective 127 Minneapolis - University 108 815 6th Avenue 815 6th Avenue SE Minneapolis MN 55414 Prospective 51 Minneapolis - University 109 9th Street 620 9th Street SE Minneapolis MN 55414 Prospective 61 Minneapolis - University 110 American Spirit on 9th 801 SE 9th Street Minneapolis MN 55414 Prospective 88 Minneapolis - University 111 Cedar High - 1627 Renovation 1627 South 6th Street Minneapolis MN 55454 Prospective 116 Minneapolis - University 112 Corner 24 University Avenue NE Minneapolis MN 55413 Prospective 57 Minneapolis - University 113 General Mills 330 University Avenue SE Minneapolis MN 55414 Prospective 304 Minneapolis - University 114 General Mills Phase II 330 University Avenue SE Minneapolis MN 55414 Prospective 270 Minneapolis - University 115 Malcolm Yards 445 Malcolm Avenue SE Minneapolis MN 55414 Prospective 300 Minneapolis - University 116 Maya Commons 1220 SE Brook Avenue Minneapolis MN 55414 Prospective 50 Minneapolis - University 117 Uncommon 1212 SE 4th Street Minneapolis MN 55414 Prospective 114 Minneapolis - University 118 Hiawatha Avenue 4757 Hiawatha Avenue Minneapolis MN 55406 Prospective 85 Minneapolis - Longfellow 119 5310 Minnehaha 5310 Minnehaha Avenue Minneapolis MN 55417 Prospective 108 Minneapolis - Nokomis 120 Cedar Avenue 4715 Cedar Avenue South Minneapolis MN 55407 Prospective 125 Minneapolis - Nokomis 121 Brooklyn Center Bass Lake Road & Shingle Creek Regional Trail Brooklyn Center MN 55430 Prospective 575 Brooklyn Center/Camden 122 Primo Corner Redevelopment Penn Avenue North & Lowry Avenue North Minneapolis MN 55412 Prospective 100 Brooklyn Center/Camden 123 Lowry Avenue 2500 Lowry Avenue NE St. Anthony MN 55418 Prospective 823 Columbia Heights

Source: Yardi Matrix Minneapolis Urban New Construction and Proposed Multifamily Projects

PERMIT FORECASTED START OF ID PROPERTY NAME ADDRESS CITY STATE ZIP STATUS UNITS SUBMARKET DATE COMPLETION DATE RENT-UP 124 Silver Lake Road 39th Avenue NE & Silver Lake Road NE St. Anthony MN 55421 Prospective 498 Columbia Heights 125 3650 Hazelton 3650 Hazelton Road Edina MN 55435 Prospective 186 Edina/Eden Prairie 126 66th Street West & Xerxes Avenue South Phase II NWC 66th Street West & Xerxes Avenue South Edina MN 55423 Prospective 145 Edina/Eden Prairie 127 76th Street 4100 West 76th Street Minneapolis MN 55435 Prospective 80 Edina/Eden Prairie 128 77th Street 4660 West 77th Street West Edina MN 55435 Prospective 325 Edina/Eden Prairie 129 Amundson Flats 7079 Amundson Avenue Minneapolis MN 55439 Prospective 115 Edina/Eden Prairie 130 Boulevard Phase II, The West 74th Street & Metro Boulevard Edina MN 55439 Prospective 320 Edina/Eden Prairie 131 Grandview 5146 Eden Avenue Edina MN 55436 Prospective 140 Edina/Eden Prairie 132 Promenade on France West 66th Street & France Avenue South Edina MN 55435 Prospective 200 Edina/Eden Prairie 133 Beltline Boulevard Beltline Blvd & Park Glen Road St. Louis Park MN 55416 Prospective 183 St. Louis Park 134 Central Park West Phase II 1511 Utica Avenue South St. Louis Park MN 55416 Prospective 164 St. Louis Park 135 3600 France Avenue 3600 France Avenue North Robbinsdale MN 55422 Prospective 194 Golden Valley 136 Four Seasons Mall Redevelopment Highway 169 & Rockford Road Minneapolis MN 55441 Prospective 430 Plymouth 137 First National Bank Building Redevelopment 332 Street St. Paul MN 55101 Prospective 170 St. Paul - Downtown 138 Kellogg Boulevard 241 Kellogg Blvd East St. Paul MN 55101 Prospective 90 St. Paul - Downtown 139 Seven Corners Gateway NWC 7th Street West & Kellogg Blvd West St. Paul MN 55102 Prospective 144 St. Paul - Downtown 140 St. Paul Riverfront Mixed-Use 50 West Kellogg Blvd St. Paul MN 55102 Prospective 325 St. Paul - Downtown 141 Waterford Bay at St Paul Randolph Avenue & Shepard Street St Paul MN 55102 Prospective 250 St. Paul - West Seventh 142 60 North Avon 60 North Avon Street St. Paul MN 55104 Prospective 100 St. Paul - Summit-University 143 Cathedral Hill 393 Marshall Avenue St. Paul MN 55102 Prospective 175 St. Paul - Summit-University 144 Rice Street Sears Redevelopment 425 Rice Street St. Paul MN 55103 Prospective 800 St. Paul - Summit-University 145 University Avenue 625 University Avenue West St. Paul MN 55104 Prospective 61 St. Paul - Thomas-Dale 146 Rivoli Bluff 823 East 7th Street St. Paul MN 55106 Prospective 100 St. Paul - Dayton's Bluff 147 Fillmore West Plato Blvd & South Robert Street St. Paul MN 55107 Prospective 640 St. Paul - West Side 148 Water Street West 84 West Water Street Saint Paul MN 55107 Prospective 137 St. Paul - West Side 149 2751 Shepard Road 2751 Shepard Road St. Paul MN 55116 Prospective 211 St. Paul - Highland 150 Sibley Plaza 2401 7th Street West St. Paul MN 55116 Prospective 120 St. Paul - Highland St. Paul - Lexington 151 441 Snelling Avenue North 441 Snelling Avenue North St. Paul MN 55104 Prospective 120 Hamline St. Paul - Lexington 152 700 Emerald Street Phase II 700 Emerald Street SE St. Paul MN 55114 Prospective 258 Hamline St. Paul - Lexington 153 Carroll Avenue Carroll Avenue & Snelling Avenue St. Paul MN 55104 Prospective 70 Hamline

Source: Yardi Matrix Minneapolis Urban New Construction and Proposed Multifamily Projects

PERMIT FORECASTED START OF ID PROPERTY NAME ADDRESS CITY STATE ZIP STATUS UNITS SUBMARKET DATE COMPLETION DATE RENT-UP St. Paul - Lexington 154 Pitch, The 427 Snelling Avenue North St. Paul MN 55104 Prospective 156 Hamline 155 Luther Seminary 2481 Como Avenue Saint Paul MN 55108 Prospective 120 St. Paul - St.Anthony 156 Pirtek Building 2161 University Avenue West St. Paul MN 55114 Prospective 140 St. Paul - St.Anthony 157 Payne Avenue 520 Payne Avenue St. Paul MN 55130 Prospective 75 St. Paul - Payne-Phalen 158 Thompson Oaks Golf Course 1555 Oakdale Avenue West St. Paul MN 55118 Prospective 150 West St. Paul 159 Highway 13 Phase II 2180 Hwy 13 Mendota Heights MN 55120 Prospective 69 Mendota 160 Lilydale Senior Housing 857 Sibley Memorial Hwy St. Paul MN 55118 Prospective 100 Mendota 161 Amber Union Workforce Housing 1667 MN-51 Falcon Heights MN 55108 Prospective 106 Falcon Heights 162 Edison 2737 Lexington Avenue North Roseville MN 55113 Prospective 100 Roseville 163 Fairview Avenue North 2720 North Fairview Avenue Roseville MN 55113 Prospective 117 Roseville 164 Village, The 1675 MN-36 Roseville MN 55113 Prospective 425 Roseville 165 Midtown Village 581 Old Hwy 8 NW New Brighton MN 55112 Prospective 358 New Brighton 166 White Bear Avenue East County Road C & White Bear Avenue Maplewood MN 55109 Prospective 99 Maplewood 167 7th Avenue East Development 7th Avenue Est & Margaret Street North North St. Paul MN 55109 Prospective 88 Oakdale - North 168 N Washington & N 5th Avenue North Washington Avenue & North 5th Avenue Minneapolis MN 55401 Prospective 319 Minneapolis - Central 169 38th Street Station Phase II 3752 Hiawatha Avenue Minneapolis MN 55406 Prospective 145 Minneapolis - Powderhorn 170 Lake Street Phase II & III 516 West Lake Street Minneapolis MN 55408 Prospective 203 Minneapolis - Powderhorn 171 West Lake Street & James Avenue South West Lake Street & James Avenue South Minneapolis MN 55408 Prospective 127 Minneapolis - Calhoun Isle 172 Satori 800 West Broadway Avenue Minneapolis MN 55411 Prospective 112 Minneapolis - Near North 173 Satori Phase II and III 800 West Broadway Avenue Minneapolis MN 55411 Prospective 96 Minneapolis - Near North 174 West Broadway Curve Redevelopment 1920 West Broadway Avenue Minneapolis MN 55411 Prospective 69 Minneapolis - Near North 175 Cedar Point II NEC 16th Avenue South & East 65th Street Richfield MN 55423 Prospective 230 Richfield 176 4916 France 4916 France Avenue South Minneapolis MN 55410 Prospective 110 Edina/Eden Prairie 177 France Avenue - US Bank 7001 South France Avenue Edina MN 55435 Prospective 200 Edina/Eden Prairie 178 325 Blake Road 325 Blake Road North Hopkins MN 55343 Prospective 465 Hopkins Total Prospective 20,969 TOTAL MINNEAPOLIS URBAN 37,038

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