OFFERING MEMORANDUM ONE ELEVEN PARK , TX ONE ELEVEN PARK SAN ANTONIO, TX

CONTENTS

03 PROPERTY OVERVIEW 07 AREA OVERVIEW 11 FINANCIAL OVERVIEW

LISTED BY:

CRAIG IRVIN JOHN BOYETT Associate | Multifamily Associate | Multifamily +1 (512) 817-4975 +1 (818) 923-6226 [email protected] [email protected] License No. 678230 (TX) License No. 02056759 (CA)

DREW MCALLISTER Director of Sales +1 (562) 528-8015 [email protected] BRE. 01946829 (CA)

| 2 PROPERTY SECTION OVERVIEW 01

ONE ELEVEN PARK SAN ANTONIO, TX

3 | ONE ELEVEN PARK SAN ANTONIO, TX

CAPITAL IMPROVEMENTS INTERIOR CAPITAL IMPROVEMENTS • Exterior Paint - $24,000 • Complete New Fan Coil Install • Painting of Grounds Around Pool Area - $9,951 • 28 Unit Interiors Fully or Partially Renovated by Current Owner • Electric Require in Kitchen and Bathroom • 4 Units not yet Renovated/Upgraded • New Paint throughout • Unit Renovations – 2017 - $295,562 • New Lights throughout • Unit Renovations – 2018 - $210,766 • Light Grey Vinyl Plank Flooring installed throughout (With 10 year • Palm Tree & Garden - $33,000 Warranty) • Exterior Stone Work - $7,500 • Resurface of Kitchen Cabinets and Paint • Pool Upgrades - $4,000 • Resurface of Kitchen Counter or New White Stone Countertop • Exterior Lighting (LED – Energy Efficient) - $8,400 • Exterior Gate/Entry-Way - $8,400 • Backsplash Carrera Stone in Kitchen • Security Cameras - $12,500 • New black or Stainless Steel Fridge and Stove (in the Deluxe Units • New Partial Asphalt Slurry - $6,000 there is also a Washer, Dryer & Dishwasher) • Building Signage - $4,600 • Bathroom Full or Partial Demo Include: New Backsplash or • New Window Screens - $3,900 Complete Wall Re-Tile • Roof Repairs - $12,000 • Penny Tile Flooring • Common Area/Courtyard Ground & Landscaping Improvements - $27,000 • New Hardware throughout • Common Area Benches & Tables - $24,000 • New Sink, Mirror and Toilet • Planters - $7,500 • New Fans and Lights throughout • Custom Made McNichols Metal Work/Trellis - $16,000 • Tuscan Outdoor Lighting and Metal Work - $6,900

| 4 5 |

One Eleven Park is a newly renovated apartment property less than a mile away from the premier Pearl District in San Antonio and just one block from San Antonio College. One Eleven features a WalkScore of 85 and includes easy access to major highways like; I-35, I-10 & McAllister Fwy. You will find coffee shops, bars & the newest restaurants just around the corner. In addition to its central location, One Eleven offers amenities to its tenants not found in apartments nearby. Upgraded units include white Calcutta tiled Bathrooms, tub & rain Showers with white stone countertops. Along with upgraded bathrooms, these units include stainless steel appliances and open kitchen concepts. One Eleven is a great modern apartment suited for todays urban dwellers with access to the city’s higher education centers of Trinity University, St. Mary’s University, University of Incarnate Word, San Antonio College & UTSA.

| 6 THE PEARL DISTRICT AREA SECTION OVERVIEW 02

ONE ELEVEN PARK SAN ANTONIO, TX

THE PEARL DISTRICT 7 | SAN ANTONIO, TX San Antonio officially the City of San Antonio, is the and Interstate 10 corridors to the north, west, and east five-time NBA champion and hosts the seventh most populous city in the United States and make it likely that the metropolitan area will continue to annual San Antonio Stock Show & Rodeo, one of the largest the second most populous city in both Texas and the expand. such events in the U.S. Southern United States. Straddling the regional divide The city contains five 18th-century Spanish frontier The U.S. Armed Forces have numerous facilities in and between South and Central Texas, San Antonio anchors the missions, including The Alamo and around San Antonio; is the only one southwestern corner of an urban megaregion colloquially National Historical Park, which together were designated within the city limits. , Randolph Air known as the “Texas Triangle”. UNESCO World Heritage sites in 2015. Other notable Force Base, Lackland AFB/Kelly Field Annex, , San Antonio is the center of the San Antonio–New attractions include the River Walk, the Tower of the and Camp Stanley are outside the city limits. Kelly Air Force Braunfels metropolitan statistical area. Commonly called Americas, SeaWorld, the Alamo Bowl, and Marriage Island. Base operated out of San Antonio until 2001, when the , the metro area has a population of Commercial entertainment includes airfield was transferred to Lackland AFB. The remaining 2,473,974 based on the 2017 U.S. census estimate, making and Morgan’s Wonderland amusement parks. According to parts of the base were developed as Port San Antonio, it the 24th-largest metropolitan area in the United States the San Antonio Convention and Visitors Bureau, the city is an industrial/business park and aerospace complex. San and third-largest in Texas. Growth along the Interstate 35 visited by about 32 million tourists a year. It is home to the Antonio is home to six Fortune 500 companies and the South Texas Medical Center, the only medical research and care provider in the South Texas region.

ECONOMY

The City of San Antonio maintains a strong financial position with a “AAA” general obligation and is home to several military commands.The city is also a cybersecurity hub; nationally bond rating from all three major rating agencies. The Milken Institute has ranked San recognized as a leader in the field of information security. Antonio No. 1 on its Best-Performing Cities list. As the seventh-largest city in the United San Antonio is positioning itself to be at the forefront of the New Energy Economy in the States, San Antonio is experiencing solid economic growth in 21st-century industries such United States, committed to investing and creating employment opportunities in green as bioscience and healthcare, aerospace, IT and cybersecurity, and green technologies. industries. Biotech companies and healthcare systems in San Antonio contribute billions to the local economy.The Aerospace industry remains a dominant economic strength in San Antonio San Antonio’s economy has remained steady and prosperous by successfully attracting with the presence of several aviation and aerospace corporations, including the military. new businesses and helping existing companies grow. The city has focused on creating new The military has had a significant relationship with San Antonio for more than 200 years employment opportunities in 21st-century industries, maintaining a great quality of life, and facilitating business growth at the local and international level.

| 8 SAN ANTONIO CULTURE San Antonio is a popular tourist destination. The Alamo Mission in San Antonio through downtown, “Downtown Reach”, past the Blue Star’s (“The Alamo”), located in Downtown, is Texas’ top tourist attraction. Because of “Eagleland” to the “Mission Reach” ending near Loop 410 South past Mission the mission, San Antonio is often called “Alamo City”. Espada. Lined with numerous shops, bars, and restaurants, as well as the , this attraction is transformed into an impressive festival The River Walk, which meanders through the Downtown area, is the city’s of lights during the Christmas and New Year holiday period (except for the second-most-visited attraction, giving it the additional nickname of “River City”. Mission Reach), and is suffused with the local sounds of folklorico and flamenco Extended an additional 13 miles between 2009–2013, the landscaped walking music during the summer, particularly during celebrations such as the Fiesta and bike path line the from the “Museum Reach” beginning in Noche del Rio.

SAN ANTONIO ATTRACTIONS The city is home to three animal attractions. SeaWorld, 16 miles west of will be one of Merlin’s Sea Life Aquariums. It is expected to open by summer Downtown in the city’s Westover Hills district, is the number 3 attraction and 2018. The San Antonio Aquarium is the third and final attraction. one of the largest marine life parks in the world. The very popular and historic San Antonio is also home to several commercial amusement parks, including is in the city’s Brackenridge Park. A third animal attraction Six Flags Fiesta Texas, Splashtown and Morgan’s Wonderland, a theme park for is in development by British company Merlin Entertainments to accompany children with special needs. Kiddie Park, featuring old-fashioned amusement SeaWorld as a second aquarium attraction and indoor counterpart. The new rides for children, was established in 1925 and is the oldest children’s attraction will be inside the in and amusement park in the U.S. 9 | DEMOGRAPHICSPROPERTY DEMOGRAPHICS POPULATION 1-MILE 3-MILE 5-MILE 2024 Projection 15,603 155,960 417,319 2019 Estimate 14,748 148,085 396,946 2010 Census 12,512 135,512 372,912 Growth 2019-2024 5.80% 5.32% 5.13% Growth 2010-2019 17.87% 9.28% 6.45%

HOUSEHOLDS 1-MILE 3-MILE 5-MILE 2024 Projection 7,282 57,493 150,731 2019 Estimate 6,807 53,747 141,746 2010 Census 5,697 47,250 129,234 Growth 2019-2024 6.98% 6.97% 6.34% Growth 2010-2019 19.48% 13.75% 9.68%

INCOME 1-MILE 3-MILE 5-MILE 2019 Avg. $65,538 $62,529 $61,433 Household Income

| 10 FINANCIAL SECTION OVERVIEW 03

ONE ELEVEN PARK SAN ANTONIO, TX

11 | INVESTMENT SUMMARY

111 E PARK AVE CURRENT MARKET VALUE RANGE PRICE/UNIT PRICE/FOOT SAN ANTONIO, TX 78212 CAP RATE GRM CAP RATE GRM Number of Units: 32 Year Built: 1960 $3,300,000 $103,125 $133.80 5.99% 8.26 8.14% 6.88 APN: on file w/ brokerage Gross Sq. Ft.: 24,663 Average S.F. Per Unit: 771 Lot Size (Acres): 0.79 Density: 41 *One Eleven Park is being offered on an assumption basis with attractive terms

UNIT MIX

CURRENT MARKET TOTAL UNIT UNIT MIX AVG. SQUARE AVG. RENT UNITS MIX % FEET P.S.F AVG RENT MONTHLY RENT RENT RENT P.S.F. MONTHLY RENT

1 studio 3% 572 $1.22 $700 $700 $898 $1.57 $898

20 1+1 63% 686 $1.23 $844 $16,886 $1,029 $1.50 $20,580

11 2+1 34% 944 $1.12 $1,056 $11,614 $1,227 $1.30 $13,497

Scheduled Monthly Rent: $29,200 $34,975

Scheduled Yearly Rent: $350,400 $419,700

| 12 ANNUAL OPERATING SUMMARY CURRENT MARKET

Scheduled Gross Income: $350,400 $419,700 20% Upside

Less Concessions: $0

Less Bad Debt: $0

Less Vacancy Reserve: $17,520 5.0% $20,985 5.0%

RUBS: $49,114 $56,510

Laundry: $0 $3,600

Gross Operating Income: $332,880 $398,715

Expenses: $184,266 48.2% $190,191 41.45% *

Net Operating Income: $197,728 $268,634

Loan Payments: $108,104 $108,104

Pre-Tax Cash Flow: $89,624 6.14% $160,530 11.00% **

Plus Principal Reduction: $31,238 $31,238

Total Return Before Taxes: $120,862 8.28% $191,768 13.13% **

* As a percent of Scheduled Gross Income

** As a percent of Down Payment

13 | PRO FORMA ANNUAL OPERATING EXPENSES PRO FORMA ESTIMATES % OF SGI CURRENT PER UNIT MARKET PER UNIT % OF SGI

Property Taxes 2.774% Actual 2019 21.35% $71,075 $2,221 $71,075 $2,221 16.9%

Reserves $250 x Units 2.40% $8,000 $250 $8,000 $250 1.9%

Insurance Actual 2019 3.31% $11,032 $345 $11,032 $345 2.6%

Management Fee 6% x GOI 6.00% $19,973 $624 $23,923 $748 5.7%

Repairs & Maintenance 3% x GOI 3.00% $9,986 $312 $11,961 $374 2.9%

Landscaping $400 x Month 1.44% $4,800 $150 $4,800 $150 1.1%

Telephone & Internet 2018-19 Average 0.54% $1,810 $57 $1,810 $57 0.4%

Pool Servicing 2018-19 Average 0.57% $1,894 $59 $1,894 $59 0.5%

Pest Control 2018-19 Average 0.45% $1,500 $47 $1,500 $47 0.4%

Utilities 2018-19 Average 14.82% $49,331 $1,542 $49,331 $1,542 11.8%

Trash 2018-19 Average 0.19% $648 $20 $648 $20 0.2%

Chiller/Water Treatment 2018-19 Average 0.46% $1,516 $47 $1,516 $47 0.4%

General admin 2018-19 Average 0.81% $2,701 $84 $2,701 $84 0.6%

Total Expenses 55.36% $184,266 $5,758 $190,191 $5,943 45.3% Current Per Unit % of SGI Non-controllable expenses: Taxes, Ins., Reserves: $102,080 $3,190 29.1% Total Expense without Taxes $113,191 $3,537 32.30%

FINANCING

Loan Amount $1,840,000 Terms: 30 Down Payment: 44% $1,460,000 Interest: 4.21% Yearly Pmt: $108,104 Monthly Pmt: $9,008.66 Debt Coverage: -

| 14 RENT ROLL # UNIT MIX RENT S.F RENT/S.F. MARKET RENT MKT RENT/S.F. 1 101 2+1 $1,050.00 919 $1.14 $1,195.00 $1.30 2 102 1+1 $770.00 662 $1.16 $995.00 $1.50 3 103 1+1 $875.00 662 $1.32 $995.00 $1.50 4 104 2+1 $1,100.00 948 $1.16 $1,230.00 $1.30 5 105 1+1 $825.00 684 $1.21 $1,025.00 $1.50 6 106 1+1 $849.00 684 $1.24 $1,025.00 $1.50 7 107 1+1 $825.00 684 $1.21 $1,025.00 $1.50 8 108 1+1 $870.00 684 $1.27 $1,025.00 $1.50 9 109 2+1 $925.00 948 $0.98 $1,230.00 $1.30 10 110 1+1 $700.00 662 $1.06 $995.00 $1.50 11 111 1+1 $890.00 662 $1.34 $995.00 $1.50 12 112 2+1 $925.00 919 $1.01 $1,195.00 $1.30 13 113 Studio $700.00 572 $1.22 $900.00 $1.57 14 201 2+1 $1,189.00 919 $1.29 $1,195.00 $1.30 15 202 1+1 $875.00 662 $1.32 $995.00 $1.50 16 203 1+1 $849.00 662 $1.28 $995.00 $1.50 17 204 2+1 $1,113.00 948 $1.17 $1,230.00 $1.30 18 205 1+1 $825.00 659 $1.25 $990.00 $1.50 19 206 1+1 $825.00 684 $1.21 $1,025.00 $1.50 20 207 1+1 $895.00 780 $1.15 $1,170.00 $1.50 21 208 2+1 $1,089.00 983 $1.11 $1,275.00 $1.30 22 209 2+1 $1,089.00 983 $1.11 $1,275.00 $1.30 23 210 2+1 $995.00 945 $1.05 $1,230.00 $1.30 24 211 2+1 $950.00 948 $1.00 $1,230.00 $1.30 25 212 1+1 $849.00 662 $1.28 $995.00 $1.50 26 213 1+1 $555.00 662 $0.84 $995.00 $1.50 27 214 2+1 $1,189.00 919 $1.29 $1,195.00 $1.30 28 215 1+1 $849.00 721 $1.18 $1,085.00 $1.50 29 216 1+1 $875.00 721 $1.21 $1,085.00 $1.50 30 217 1+1 $915.00 721 $1.27 $1,085.00 $1.50 31 218 1+1 $875.00 721 $1.21 $1,085.00 $1.50 32 219 1+1 $1,095.00 673 $1.63 $1,010.00 $1.50 Totals $29,200.00 24,663 $1.18 $34,975.00 $1.42 32 Averages $912.50 771 $1.19 $1,092.97 $1.43

15 | MARKET COMPS SALE PRICE/ NUMBER OF BUILDING SIZE PER SQUARE LOT SIZE # STREET ADDRESS PER UNIT SALE DATE Year Built VALUE UNITS (SF) FOOT (SQFT)

111 E Park Ave $3,300,000 $103,125 On Market 32 24,663 $133.80 34,238 1960 San Antonio, TX 78212

3122 Culebra Rd 1 $3,200,000 $96,969.70 On Market 33 19,568 $163.53 30,013 1970 San Antonio, TX 78228

211 Natalen Ave 2 $2,700,000 $103,846.15 13-May-19 26 20,800 $129.81 32,322 1960 San Antonio, TX 78209

329 W Huisache Ave 3 $965,000 $80,416.67 16-Aug-19 12 6,880 $140.26 12,908 1925 San Antonio, TX 78212

128 Katherine Ct 4 $900,000 $180,000.00 On Market 5 3,246 $277.26 11,326 1939 San Antonio, TX 78209

1875 Thompson Pl 5 $2,060,000 $103,000.00 On Market 20 21,500 $95.81 74,923 2007 San Antonio, TX 78226

Total Comp Avg. $1,965,000 $112,846.50 On Market 19.2 14,399 $161.34 32,298 1960

| 16 RENT COMPS # ADDRESS DISTANCE (MI) RENT SIZE/SF RENT/SF BED/BATH DATE RENTED Current $843 686 $1.23 1+1 Current 111 E Park Ave: Market $1,029 686 $1.50 1+1 Current 1 1625 McCullough Ave 0.11 $1,029 686 $1.50 1+1 Current

2 410 E Locust St 0.28 $800 650 $1.23 1+1 Jul-19

3 614 E Dewey Pl 0.48 $800 500 $1.60 1+1 Jul-19

4 109 W French Pl 0.49 $1,040 700 $1.49 1+1 Jul-19

5 423 E Ashby Pl 0.49 $1,700 - - 1+1 Jul-19

6 512 E Quincy St 0.62 $875 - - 1+1 Jul-19

7 301 Warren St 0.65 $695 550 $1.26 1+1 Jul-19

8 117 W Craig Pl 0.65 $675 500 $1.35 1+1 Jul-19

9 133 W Craig Pl 0.66 $925 670 $1.38 1+1 Jul-19

10 317 Lexington Ave 0.85 $1,075 675 $1.59 1+1 Jul-19

11 722 Marshall St 0.94 $795 615 $1.29 1+1 Jul-19

12 122 Roy Smith St 0.95 $1,280 620 $2.06 1+1 Jul-19

13 503 Avenue Ave 0.95 $1,405 653 $2.15 1+1 Jul-19

14 306 Pearl Pkwy 0.96 $1,490 715 $2.08 1+1 Jul-19

15 205 E Huisache Ave 0.97 $815 534 $1.53 1+1 Jul-19

Total Comp Avg. 0.67 $1,018 612 $1.58 1+1 Jul-19

17 | | 18 RENT COMPS (2 BED/1BA) # ADDRESS DISTANCE (MI) RENT SIZE/SF RENT/SF BED/BATH DATE RENTED

Current $1,057 944 $1.12 2+1 Current 111 E Park Ave: Market $1,227 944 $1.30 2+1 Current 1 1415 N Main Ave 0.2 $1,400 900 $1.56 2+1.5 Jul-19

2 615 E Locust St 0.5 $800 635 $1.30 2+1 Jul-19

3 109 W French Pl 0.49 $1,365 865 $1.58 2+1 Jul-19

4 317 Lexington Ave 0.85 $1,230 825 $1.49 2+1 Jul-19

5 122 Roy Smith St 0.95 $2,252 1,063 $2.12 2+1 Jul-19

6 503 Avenue Ave 0.95 $2,164 1,021 $2.12 2+1 Jul-19

7 306 Pearl Pkwy 0.96 $2,180 1,200 $1.82 2+1 Jul-19

Total Comp Avg. 0.7 $1,627 930 $1.71 2+1 Jul-19

RENT COMPS (STUDIO) # ADDRESS DISTANCE (MI) RENT SIZE/SF RENT/SF BED/BATH DATE RENTED

Current $700 572 $1.22 0+1 Current 111 E Park Ave: Market $900 572 $1.57 0+1 Current 1 327 E Locust 0.26 $840 - - 0+1 Jul-19

2 317 Lexington Ave 0.86 $945 575 $1.64 0+1 Jul-19

3 122 Roy Smith St 0.95 $1,206 527 $2.29 0+1 Jul-19

4 503 Avenue Ave 0.95 $1,498 724 $2.07 0+1 Jul-19

5 201 E Huisache 0.96 $700 450 $1.56 0+1 Jul-19

Total Comp Avg. 0.796 $1,038 569 $1.89 0+1 Jul-19

| 19 19 | RENT COMPS (2 BED/2BA)

RENT COMPS (STUDIO)

| 20 CONFIDENTIALITY AGREEMENT AND DISCLAIMER

This Offering Memorandum contains select information pertaining to the business and affairs ofThe Property located in 111 E Park Ave San Antonio, TX 78212 (“Property”). It has been prepared by Matthews Real Estate Investment Services. This Offering Memorandum may not be all-inclusive or contain all of the information a prospective purchaser may desire. The information contained in this Offering Memorandum is confidential and furnished solely for the purpose of a review by a prospective purchaser of the Property. It is not to be used for any other purpose or made available to any other person without the written consent of Seller or Matthews Real Estate Investment Services. The material is based in part upon information supplied by the Seller and in part upon financial information obtained from sources it deems reliable. Owner, nor their officers, employees, or agents makes any representation or warranty, express or implied, as to the accuracy or completeness of this Offering Memorandum or any of its contents and no legal liability is assumed or shall be implied with respect thereto. Prospective purchasers should make their own projections and form their own conclusions without reliance upon the material contained herein and conduct their own due diligence.

By acknowledging your receipt of this Offering Memorandum for theProperty , you agree:

1. The Offering Memorandum and its contents are confidential; 2. You will hold it and treat it in the strictest of confidence; and 3. You will not, directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum orits contents in any fashion or manner detrimental to the interest of the Seller.

Owner and Matthews Real Estate Investment Services expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers to purchase the Property and to terminate discussions with any person or entity reviewing this Offering Memorandum or making an offer to purchase theProperty unless and until a written agreement for the purchase and sale of the Property has been fully executed and delivered.

If you wish not to pursue negotiations leading to the acquisition of the Property or in the future you discontinue such negotiations, then you agree to purge all materials relating to this Property including this Offering Memorandum.

A prospective purchaser’s sole and exclusive rights with respect to this prospective transaction, the Property, or information provided herein or in connection with the sale of the Property shall be limited to those expressly provided in an executed Purchase Agreement and shall be subject to the terms thereof. In no event shall a prospective purchaser have any other claims against Seller or Matthews Real Estate Investment Services or any of their affiliates or any of their respective officers, Directors, shareholders, owners, employees, or agents for any damages, liability, or causes of action relating to this solicitation process or the marketing or sale of the Property.

This Offering Memorandum shall not be deemed to represent the state of affairs of theProperty or constitute an indication that there has been no change in the state of affairs of the Property since the date this Offering Memorandum.

21 | 11-2-2015 Information About Brokerage Services Texas law requires all real estate license holders to give the following informaƟon about brokerage services to prospecƟve buyers, tenants, sellers and landlords.

TYPES OF REAL ESTATE LICENSE HOLDERS: . • A BROKER is responsible for all brokerage acƟviƟes, including acts performed by sales agents sponsored by the broker. • A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker.

A BROKER’S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents): • Put the interests of the client above all others, including the broker’s own interests; • Inform the client of any material informaƟon about the property or transacƟon received by the broker; • Answer the client’s quesƟons and present any offer to or counter-offer from the client; and • Treat all parƟes to a real estate transacƟon honestly and fairly.

A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION:

AS AGENT FOR OWNER (SELLER/LANDLORD): The broker becomes the property owner's agent through an agreement with the owner, usually in a wriƩen lisƟng to sell or property management agreement. An owner's agent must perform the broker’s minimum duƟes above and must inform the owner of any material informaƟon about the property or transacƟon known by the agent, including informaƟon disclosed to the agent or subagent by the buyer or buyer’s agent.

AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenant's agent by agreeing to represent the buyer, usually through a wriƩen representaƟon agreement. A buyer's agent must perform the broker’s minimum duƟes above and must inform the buyer of any material informaƟon about the property or transacƟon known by the agent, including informaƟon disclosed to the agent by the seller or seller’s agent.

AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the parƟes the broker must first obtain the wriƩen agreement of each party to the transacƟon. The wriƩen agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker's obligaƟons as an intermediary. A broker who acts as an intermediary: • Must treat all parƟes to the transacƟon imparƟally and fairly; • May, with the parƟes' wriƩen consent, appoint a different license holder associated with the broker to each party (owner and buyer) to communicate with, provide opinions and advice to, and carry out the instrucƟons of each party to the transacƟon. • Must not, unless specifically authorized in wriƟng to do so by the party, disclose: ᴑ that the owner will accept a price less than the wriƩen asking price; ᴑ that the buyer/tenant will pay a price greater than the price submiƩed in a wriƩen offer; and ᴑ any confidenƟal informaƟon or any other informaƟon that a party specifically instructs the broker in wriƟng not to disclose, unless required to do so by law.

AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transacƟon without an agreement to represent the buyer. A subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first.

TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH: • The broker’s duƟes and responsibiliƟes to you, and your obligaƟons under the representaƟon agreement. • Who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated.

LICENSE HOLDER CONTACT INFORMATION: This noƟce is being provided for informaƟon purposes. It does not create an obligaƟon for you to use the broker’s services. Please acknowledge receipt of this noƟce below and retain a copy for your records.

Kyle Matthews/Matthews Retail Group Inc. 678067 [email protected] (310) 919-5757 Licensed Broker /Broker Firm Name or License No. Email Phone Primary Assumed Business Name Kyle Matthews 678067 [email protected] (310) 919-5757 Designated Broker of Firm License No. Email Phone

Licensed Supervisor of Sales Agent/ License No. Email Phone Associate

Sales Agent/Associate’s Name License No. Email Phone

Buyer/Tenant/Seller/Landlord Initials Date

Regulated by the Texas Real Estate Commission InformaƟon available at www.trec.texas.gov IABS 1-0 LISTED BY: ONE ELEVEN PARK SAN ANTONIO, TX CRAIG IRVIN Associate | Multifamily +1 (512) 817-4975 [email protected] License No. 678230 (TX)

JOHN BOYETT Associate +1 (818) 923-6226 [email protected] License No. 02056759 (CA)

DREW MCALLISTER Director of Sales +1 (562) 528-8015 [email protected] BRE. 01946829 (CA)

23 |