SOUTH CONGRESS. URBAN LIVING.

INVESTMENT SUMMARY

Holliday Fenoglio Fowler, L.P. (“HFF”) a Texas licensed real estate broker. EXECUTIVE SUMMARY HFF has been exclusively retained to offer qualified investors the unique opportunity to acquire Sur512 (The “Property”), a brand new, 352-unit Class A urban residential community in Austin, Texas. Built in 2016 by renowned luxury developer JPI, the Property features impeccable design, high-quality finishes and best-in-class amenities including two resort-style swimming pools, two fitness facilities and a professional business center. Prominently positioned just minutes from Downtown and the famed South Congress District, Sur512 provides direct access to Austin’s most popular retail and entertainment destinations, Austin’s tech hub, as well as two of Austin’s biggest new hirers, UT/Dell Medical School and Oracle’s new complex. Demand for the Property is bolstered by the continued gentrification along the South Congress Corridor and the transformation of the area into a premier destination for young professionals seeking urban core living at a significant discount to CBD rents. The superior quality construction, ideal South Austin location and impactful surrounding economic influencers combine to make Sur512 a compelling offering in one of the fastest-growing and most sought after regions in the nation.

THE PROPERTY 5010 South Congress Avenue Address: Austin, Texas 78745 Size: 315,165 SF Number of Units: 352 Average Unit Size: 895 SF Number of Floors: Four Year Built: 2016 Land Size: 8.91 Acres Current Occupancy 89%/95%* (Prelease %): *in lease-up UNIVERSITY OF TEXAS 51,000+ STUDENTS UT/DELL MED SCHOOL EAST AUSTIN ROBUST GROWTH DOWNTOWN ORACLE CAMPUS U/C 2,500 JOBS CORRIDOR MUSIC LANE HOPDODDY HOME SLICE SOLA TORCHY’S TACOS SOUTH CONGRESS HOTEL • Favorable location along Austin’s South VD MAGNOLIA CAFE BL CVS PHARMACY Congress Corridor - trendiest, most AR AM HEB S. L desirable residential area in the city, SOCO ST. EDWARDS offering the quintessential Austin lifestyle SAGE CAFE UNIVERSITY CROW BAR 5,000+ STUDENTS • Demand for Sur512 is bolstered by its proximity to the South Congress District - THE INFINITE world-renowned walkable strip featuring MONKEY THEOREM THUNDERCLOUD SUBS AUSTINBERGSTROM an eclectic mix of shops, restaurants, bars, INTERNATIONAL 12 MINS P. TERRY’S food trailers, music venues and galleries AIRPORT BEN WHITE BLVD • South Congress continues to experience rapid rejuvenation with an influx of new ST. DAVID’S retailers - asking rents now exceeding $70 HOSPITAL (512) BREWING COMPANY PSF SOUTH SAINT ELMO PUBLIC MARKET THE YARD • Area economic drivers and employment mixed-use development mixed-use development generators - St. Edward’s, Oracle’s future campus, UT/Dell Med School, THIRD COAST COFFEE Waterfront Development and COTA – continue to fuel gentrification and HILL’S CAFE increase demand

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T N S G T R S BELT E 1 REEN S G S S. EK RE C A SON M V LLIA WI E

SOCO PET LOUNGE

W BELT IL GREEN LIAMSON CREEK AUSTIN CBD SUPERIOR URBAN LOCATION EAST AUSTIN ZILKER 4 • Sur512 offers direct and immediate access M to Austin’s CBD – eight-minute drive IL E S S • Situated in the path of continued growth E IL as Austin’s urban core, residents, and M D local attractions move south V 4 BARTON HILLS L BOULDIN B AR • Dynamic South Congress environment L A M attracts young professionals who desire S. urban living without paying exorbitant SOLA downtown rents O LT TRAVIS HEIGHTS ORF ST • Highly visible and connected location LAKE SHORE/ offers rapid access via Austin’s main ES South Congress Avenue, IH-35, and US IL 290/71 thoroughfares M 2 EAST RIVERSIDE SOUTH LAMAR SOCO

ST. EDWARD’S

UNIVERSITY WESTGATE

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A M C T E A S V I A L H C T SOUTH AUSTIN S S E N 1 S

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4 minutes

St. Edward’s

SoCo 5 minutes

Downtown 8 minutes

UT/Dell Med School 10 minutes

Austin-Bergstrom Airport 12 minutes

COTA 15 minutes

BEST-IN-CLASS URBAN WRAP DEVELOPMENT

• Sur512’s unique location, amenity set and unit mix will provide new ownership competitive advantages over its competitive set • Unique location affords residents quick access to Austin’s best music, food and entertainment venues while providing relief from the traffic congestion associated with the SoCo and SoLa Districts • Best-in-submarket amenity package and unit finishes exceed renter demand in the area – two luxury pools and state-of-the-art fitness facilities, designer kitchen finish- outs, granite countertops, modern subway tile backsplashes, rain shower heads and much more • 60% one-bedroom units and the remaining two and three-bedroom units specially designed to match roommate preferences – Sur512 appeals to young professionals and Austin’s strong Millennial population searching for a luxury living option at a discount to CBD rents

TWO REFRESHING POOLS OUTDOOR LOUNGE & SOCIAL SPACE PICNIC & GRILLING AREAS ★ STYLISH CLUBHOUSE BUSINESS & CONFERENCE CENTER WI-FI IN ALL COMMON AREAS INTERNET CAFE & LOUNGE ★ 24-HOUR EMERGENCY MAINTENANCE TWO FITNESS ZONES ★ FITNESS ON-DEMAND CLASSES

CONTROLLED ACCESS BUILDINGS ★ SMOKE-FREE PROPERTY ★ PET FRIENDLY ADVANCING SOUTH AUSTIN DEMOGRAPHICS

• South Congress Corridor is home to a large portion of the targeted Millennial demographic due to the trendy entertainment and dining destinations and close proximity to Austin’s urban core

• 33% of the population within a one- mile radius of the property is within the prime renter age of 18-34 and 62% choose to rent over ownership - both well above the Austin and national average

• Although the SoCo District rents are 10% to 20% higher than Sur512, the population’s average household income is similar in their respective areas - boding well for future rent growth at the Property as Austin’s core continues to move south SEAN SORRELL MATT POHL RYAN MCBRIDE Sr. Managing Director Sr. Director Director [email protected] [email protected] [email protected] 512.532.1924 512.532.1929 512.532.1932

SPENCER ROY SEAN WOLFF CASEY WENZEL Analyst Analyst Sr. Director - Debt Contact [email protected] [email protected] [email protected] 512.532.1977 512.532.1954 512.532.1923

HFF has been engaged by the owner of the properties to market them for sale. Information concerning the properties described herein has been obtained from sources other than HFF, and neither Owner nor HFF, nor their respective equity holders, officers, employees and agents makes any representations or warranties, express or implied, as to the accuracy or completeness of such information. Any and all reference 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 purchaser, and HFF, its partners, officers, employees and agents disclaim any liability that may be based upon or related to the information contained herein. Prospective purchasers should conduct their own independent investigation and rely on those results. The information contained herein is subject to change.