Richmond New Construction & Proposed Multifamily Projects 3Q17

ID PROPERTY UNITS 1 Choices at Holland Windsor, The 252 34 2 James River at Stony Point 282 3 Marcella at Town Center Phase II 120 4 31 4 Cooperage, The 117 5 Icon at City Walk 275 68 6 Clairmont at Jolliff Landing 304 41 30 22 7 Shockoe Center 160 64 4 8 Element at Stonebridge 400 40 29 9 Edge at 450, The 156 72 12 66 10 Nest on 17, The 208 58 11 Long Lofts 62 65 28 67 73 12 Carytown Crossing 50 16 70 24 13 Watermark at Talbot Park 180 62 60 25 14 Plant 1 136 7 20 Total Lease-Up 2,702 69 2 15 Moore's Lake 385 27 63 61 16 Libbie Mill 327 39 35 36 26 14 17 Nexus 268 33 18 Block 9 at Town Center 120 34 8 19 Rocketts Landing 156 32 19 20 MARQ, The 364 38 37 21 Valley West 156 22 Symbol 202 23 Colony Village Phase II 166 Total Under Construction 2,144 24 Church Hill North Buildings 130 71 23 25 1903 East Marshall Street 178 26 PortRVA Phase II 188 15 27 Reynolds South Phase II 213 84 28 Marshall Lofts 167 83 57 29 Quality Inn & Suites 210 30 Roseneath Towers 258 31 Canopy at Ginter Park 301 32 Block 17 133 82 33 Studio Row 266 34 Element at Stonebridge Phase II 200 44 35 Midlothian Town Center 238 11 75 36 Winterfield Crossing 250 74 42 43 37 Abberly at Centerpointe 271 56 38 Lakeside Commons 50 39 Westchester Commons 236 40 Innsbrook Mixed Use Development 350 41 River Mill 285 81 42 Pecan Acres Estates 50 43 South Line at Perry Place 176 44 VSU Chesterfield Avenue 62 11 45 North Pier 187 46 Front Street Flats 57 3 47 Hampton Road Transit 259 80 48 Tarrants Bay 482 49 Greenwood Manor 280 50 Pinewell Station 145 63 Paper Board Company Building 100 51 East Ocean View Avenue 96 64 1500 Roseneath 50 52 Villa Marina 106 65 Belvidere, The 100 53 CityView at Towne Center 250 66 New Clay House 80 10 54 Old Beach Village II 320 67 Azalea Square 1000 50 55 Bennett's Creek Commons 144 68 East Brookland Park 123 51 56 Yorktown Crescent 64 69 Winterfield Place 200 52 57 Crossing at York River, The 109 13 70 Libbie Mill Phase II 327 58 Jackson Ward 182 71 Madison Crossing 360 76 Total Planned 6,893 72 Big Oak at Bell Creek 220 77 47 59 West Olney Road 250 48 9 73 Cambridge Square 207 55 46 59 17 60 18th Street & Grace Street 100 78 18 54 74 380 East Washington 100 5 53 61 2501 East Main Street 216 75 Petersburg Hotel Redevelopment 60 45 20 79 62 Locks at 3Twenty-One, The 187 6 76 Newport Manor 50 1 77 Arbour Reach Phase II 50 49 78 Mezzo 282 LEGEND 79 Ridgewood Club Redevelopment 300 80 Peninsula Town Center 169 Lease-Up 81 Legacy of Poquoson 200 Under Construction 82 Marquis at Williamsburg, The 300 Planned 83 Mooretown Road & Bulifants Blvd 130 Prospective 84 Carriage Point 218 Total Prospective 5,379 5 mi Source: Yardi Matrix

a Berkshire Hathaway and Leucadia National company Richmond New Construction and Proposed Multifamily Projects

FORECASTED ID PROPERTY NAME ADDRESS CITY STATE ZIP OWNER NAME STATUS UNITS SUBMARKET PERMIT DATE COMPLETION DATE START OF RENT-UP 1 Choices at Holland Windsor, The 712 Promenade Place Virginia Beach VA 23462 Jaffe Caplan Fleder Lease-UP 252 Powells Corner 12/01/2016 03/31/2018 08/10/2017 2 James River at Stony Point 9201 Stony Point Pkwy Richmond VA 23235 Wood Partners Lease-UP 282 Bon Air - Midlothian 08/01/2016 03/31/2018 08/07/2017 3 Marcella at Town Center Phase II 101 Benevita Place Hampton VA 23666 Boyd Homes Lease-UP 120 Hampton - North 06/01/2016 02/28/2018 09/12/2016 4 Cooperage, The 1650 Overbrook Road Richmond VA 23220 Salomonsky, H. Louis Lease-UP 117 Fan District 02/28/2017 12/31/2017 07/24/2017 5 Icon at City Walk 1 Commercial Place Norfolk VA 23510 Marathon Development Group Lease-UP 275 Norfolk - South 12/31/2016 12/31/2017 06/20/2017 6 Clairmont at Jolliff Landing 5000 Honeysuckle Lane Chesapeake VA 23321 Kotarides Companies Lease-UP 304 Belleville 06/01/2016 12/31/2017 03/16/2017 7 Shockoe Center 1900 East Franklin Street Richmond VA 23223 Emerson Companies Lease-UP 160 Church Hill - Manchester 06/01/2016 12/31/2017 01/31/2017 8 Element at Stonebridge 301 Karl Linn Drive North Chesterfield VA 23225 Boyd Homes Lease-UP 400 Richmond - West 11/20/2014 12/31/2017 12/01/2015 9 Edge at 450, The 450 Boush Street Norfolk VA 23510 Marathon Development Group Lease-UP 156 Norfolk - South 01/01/2016 10/31/2017 10/10/2016 10 Nest on 17, The 17 Chickahominy Loop Carrollton VA 23314 Breeden Company, The Lease-UP 208 Smithfield 11/01/2015 10/31/2017 06/15/2016 11 Long Lofts 1131 Commerce Street Petersburg VA 23803 Jordan Properties Lease-UP 62 Petersburg - North 01/01/2016 09/30/2017 04/15/2017 12 Carytown Crossing 3500 Kensington Avenue Richmond VA 23221 Oliver Properties Lease-UP 50 Fan District 05/01/2016 09/30/2017 02/10/2017 13 Watermark at Talbot Park 7211 Newport Avenue Norfolk VA 23505 Collins Enterprises Lease-UP 180 Norfolk - North 07/01/2015 09/30/2017 05/01/2016 14 Plant 1 403 Stockton Street Richmond VA 23224 Larson Development Lease-UP 136 Church Hill - Manchester 06/01/2014 09/30/2017 06/01/2015 TOTAL LEASE-UP 6,841 15 Moore's Lake 12111 Moore's Lake Road Chester VA 23831 Whittle & Roper Realtors Under Construction 385 Chester 03/05/2017 04/30/2019 16 Libbie Mill 5001 Libbie Mill East Blvd Richmond VA 23230 Gumenick Properties Under Construction 327 Lakeside 07/01/2016 12/31/2018 17 Nexus 544 Newtown Road Virginia Beach VA 23462 Boyd Homes Under Construction 268 Hollywood - Thalia 04/20/2017 12/31/2018 18 Block 9 at Town Center Central Park Avenue & Columbus Street Virginia Beach VA 23462 Armada Hoffler Properties Under Construction 120 Hollywood - Thalia 11/15/2016 06/30/2018 19 Rocketts Landing 5100 Old Osborne Turnpike Richmond VA 23231 WVS Companies Under Construction 156 Montrose 03/08/2017 05/31/2018 20 MARQ, The Dolton Drive & Alicia Drive Virginia Beach VA 23462 Breeden Company, The Under Construction 364 Powells Corner 01/17/2017 05/31/2018 21 Valley West North 20th Street & East Grace Street Richmond VA 23223 Valley West Under Construction 156 Church Hill - Manchester 01/31/2017 01/31/2018 22 Symbol 1814 Highpoint Avenue Richmond VA 23230 Spy Rock Real Estate Group Under Construction 202 Fan District 12/08/2016 01/31/2018 23 Colony Village Phase II 10250 Colony Village Way North Chesterfield VA 23237 Emerson Companies Under Construction 166 Bellwood 12/20/2016 12/31/2017 TOTAL UNDER CONSTRUCTION 6,841 24 Church Hill North Buildings 1611 North 31st Street Richmond VA 23223 Community Builders, The Planned 130 25 1903 East Marshall Street 1903 East Marshall Street Richmond VA 23223 Sidewalk Development Planned 178 Church Hill - Manchester 26 PortRVA Phase II 512 Hull Street Richmond VA 23224 Property Results Planned 188 Church Hill - Manchester 27 Reynolds South Phase II 505 Porter Street Richmond VA 23224 Thalhimer Realty Partners Planned 213 Church Hill - Manchester 28 Marshall Lofts 2 East Marshall Street Richmond VA 23219 Phipps, Eric G. Planned 167 Fan District 29 Quality Inn & Suites 3200 West Broad Street Richmond VA 23230 Better Housing Coalition Planned 210 Fan District 30 Roseneath Towers 1400 Roseneath Road Richmond VA 23230 Main Street Realty Planned 258 Fan District 31 Canopy at Ginter Park Brook Road & Westwood Avenue Richmond VA 23227 Bristol Development Group Planned 301 Richmond - North 32 Block 17 5000 Old Main Street Richmond VA 23231 WVS Companies Planned 133 Montrose 33 Studio Row SEC Carlisle Avenue & Union Street Richmond VA 23231 Fulton Hill Properties Planned 266 Montrose 34 Element at Stonebridge Phase II 301 Stonebridge Plaza Avenue Richmond VA 23225 Boyd Homes Planned 200 Richmond - West 35 Midlothian Town Center 1300 Winterfield Road Midlothian VA 23113 CMB Development Planned 238 Bon Air - Midlothian 36 Winterfield Crossing Midlothian Turnpike & Winterfield Road Midlothian VA 23112 Blackwood Development Planned 250 Bon Air - Midlothian 37 Abberly at Centerpointe Brandermill Pkwy & Old Hundred Road Midlothian VA 23114 HHHunt Planned 271 West Chesterfield County 38 Lakeside Commons 2140 Old Hundred Road Midlothian VA 23114 Herman & Kittle Properties Planned 50 West Chesterfield County 39 Westchester Commons 15786 WC Main Street Midlothian VA 23113 Riverton Associates Planned 236 West Chesterfield County 40 Innsbrook Mixed Use Development 4235 Innslake Drive Glen Allen VA 23060 CBRE Global Investors Planned 350 Wyndham 41 River Mill J.E.B Stuart Pkwy & Magnolia Ridge Drive Glen Allen VA 23059 HHHunt Planned 285 Henry Clay Heights 42 Pecan Acres Estates 433 Pecan Street Petersburg VA 23803 Petersburg Redevelopment & Housing Authority Planned 50 Petersburg - North 43 South Line at Perry Place Gill Street & Perry Street Petersburg VA 23803 Maramjen Investments Planned 176 Petersburg - North 44 VSU Chesterfield Avenue 21015 Chesterfield Avenue Petersburg VA 23803 Virginia State University Purchasing Planned 62 Petersburg - North 45 North Pier Harbor Center Court & Wavy Street Portsmouth VA 23704 Breeden Company, The Planned 187 Portsmouth - South 46 Front Street Flats 519 Front Street Norfolk VA 23510 Rockville Development Planned 57 Norfolk - South 47 Hampton Road Transit 1500 Monticello Avenue Norfolk VA 23510 Concord Eastridge Planned 259 Norfolk - South Source: Yardi Matrix Richmond New Construction and Proposed Multifamily Projects

FORECASTED ID PROPERTY NAME ADDRESS CITY STATE ZIP OWNER NAME STATUS UNITS SUBMARKET PERMIT DATE START OF RENT- COMPLETION DATE UP 48 Tarrants Bay 151 Riverview Avenue Norfolk VA 23510 USP Development Planned 482 Norfolk - South 49 Greenwood Manor NWC Greenwood Drive & Tazewell Street Portsmouth VA 23701 Herman & Kittle Properties Planned 280 Geneva Park 50 Pinewell Station 719 East Ocean View Avenue Norfolk VA 23503 Breeden Company, The Planned 145 Washington Park - Oceanair 51 East Ocean View Avenue 2143 East Ocean View Avenue Norfolk VA 23518 MS Tek Planned 96 Bayside -Larrymore Lawns 52 Villa Marina 8158 Shore Drive Norfolk VA 23518 TST Construction Planned 106 Bayside -Larrymore Lawns 53 CityView at Towne Center 4432 Bonney Road Virginia Beach VA 23462 Ripley Heatwole Company Planned 250 Hollywood - Thalia 54 Old Beach Village II 2900 Baltic Avenue Virginia Beach VA 23451 Hampton Roads Housing Company Planned 320 Virginia Beach - North 55 Bennett's Creek Commons 3345 Bridge Road Suffolk VA 23435 Joey Corporation Planned 144 Suffolk 56 Yorktown Crescent 3130 Fort Eustis Blvd Yorktown VA 23692 Virginia Land & Homes Planned 64 Poquoson 57 Crossing at York River, The George Washington Memorial Hwy & Tidemill Road Gloucester Point VA 23072 Tower Park Management Planned 109 Gloucester Point 58 Jackson Ward North 1st Street & East Jackson Street Richmond VA 23219 Community Preservation & Development Corporation Planned 182 Fan District TOTAL PLANNED 6,893 59 West Olney Road 225 West Olney Road Norfolk VA 23510 Marathon Development Group Prospective 250 60 18th Street & Grace Street 18th Street & Grace Street Richmond VA 23219 Parrish Construction Prospective 100 Church Hill - Manchester 61 2501 East Main Street 2501 East Main Street Richmond VA 23223 MacFarlane Partners Prospective 216 Church Hill - Manchester 62 Locks at 3Twenty-One, The 321 South 10th Street Richmond VA 23219 Dominion Realty Partners Prospective 187 Church Hill - Manchester 63 Paper Board Company Building 111 Hull Street Richmond VA 23224 Fountainhead Development Prospective 100 Church Hill - Manchester 64 1500 Roseneath 1500 Roseneath Road Richmond VA 23230 Thalhimer Realty Partners Prospective 50 Fan District 65 Belvidere, The North Belvidere Street & West Grace Street Richmond VA 23220 Uphoff Ventures Prospective 100 Fan District 66 New Clay House 1125 West Clay Street Richmond VA 23220 Virginia Supportive Housing Prospective 80 Fan District 67 Azalea Square 4820 Brook Road Richmond VA 23227 Dewberry Capital Prospective 1000 Richmond - North 68 East Brookland Park 1224 East Brookland Park Blvd Richmond VA 23222 Community Preservation & Development Corporation Prospective 123 Richmond - North 69 Winterfield Place Winterfield Road & Huguenot Trail Midlothian VA 23113 Riverton Associates Prospective 200 Bon Air - Midlothian 70 Libbie Mill Phase II SWC Staples Mill Road & Bethlehem Road Richmond VA 23230 Gumenick Properties Prospective 327 Lakeside 71 Madison Crossing 15101 Hull Street Road Chesterfield VA 23832 Dise & Associates Prospective 360 West Chesterfield County 72 Big Oak at Bell Creek Bell Creek Road & Left Flank Road Mechanicsville VA 23116 Stanley Specialty Solutions Prospective 220 Henry Clay Heights 73 Cambridge Square 7153 Brandy Run Drive Mechanicsville VA 23111 Shaia, Lawrence Prospective 207 Henry Clay Heights 74 380 East Washington 380 East Washington Street Petersburg VA 23803 C.A. Harrison Companies Prospective 100 Petersburg - North 75 Petersburg Hotel Redevelopment 16 West Tabb Street Petersburg VA 23803 Monument Companies, The Prospective 60 Petersburg - North 76 Newport Manor 602 West 36th Street Norfolk VA 23508 Hanson Company, The Prospective 50 Norfolk - South 77 Arbour Reach Phase II 3624 Tejo Lane Portsmouth VA 23703 Ripley Heatwole Company Prospective 50 Belleville 78 Mezzo Virginia Beach Blvd & Wexford Drive Virginia Beach VA 23462 Atlantic Dominion Distributors Prospective 282 Hollywood - Thalia 79 Ridgewood Club Redevelopment 4594 Wicklow Place Virginia Beach VA 23452 Commonwealth Commercial Properties Prospective 300 Powells Corner 80 Peninsula Town Center 4410 East Claiborne Square Hampton VA 23666 Tabani Group Prospective 169 Hampton - North 81 Legacy of Poquoson Wythe Creek Road & Victory Blvd Poquoson VA 23662 Franklin Johnston Group, The Prospective 200 Poquoson 82 Marquis at Williamsburg, The Marquis Center Pkwy & Interstate 64 Williamsburg VA 23185 Todd Interests Prospective 300 Williamsburg - South 83 Mooretown Road & Bulifants Blvd Mooretown Road & Bulifants Blvd Williamsburg VA 23188 Marlyn Development Prospective 130 Williamsburg - North 84 Carriage Point Canon Way & George Washington Memorial Hwy Gloucester VA 23061 Zandler Development Company Prospective 218 Gloucester Point TOTAL PROSPECTIVE 5,379 TOTAL RICHMOND 17,118

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