MARKET STUDY/ANALYSIS 129 Parker Street (Proposed Multifamily Development) 129 Parker Street Maynard, MA 01754 Prepared for: Prepared by: Mr. William Depietri, Steven Kaye, MAI, CRE Chief Executive Officer CBRE/New England Capital Group Properties 33 Arch Street, 10th Floor 259 Turnpike Road, Suite 100 Boston, Massachusetts 02110 Southborough, MA 01772 Date of Market Study/Analysis: December 14, 2012 CBRE, Inc. – N.E. Partners, LP, a CBRE Joint Venture CBRE, Inc. 33 Arch Street, 10th Floor Boston, MA 02110 Direct Line: 617.912.6950 Fax: 617.912.6901 E-Mail:
[email protected] December 19, 2012 Mr. William Depietri Chief Executive Officer Capital Group Properties 259 Turnpike Road, Suite 100 Southborough, MA 01772 Re: 129 Parker Street Maynard, MA 01754 Dear Mr. Depietri: As requested, I have made an inspection and analysis of the above referenced property for the purpose of conducting a Market Study. The intended use of the market study is to assist you with internal financial planning associated with prospective project permitting and development. The Report is intended for the use of you and those parties authorized by you. The scope of services included a market study/and analysis that considered trends in supply and demand, analysis of the rental market, estimate of market rents, and absorption. The effective date of the Market Study is December 14, 2012, while the date of report preparation is December 19, 2012. The report is intended to be in conformance with the Uniform Standards of Professional Appraisal Practice (USPAP) for “appraisal/consulting” assignments promulgated by the Appraisal Standards Board of the Appraisal Foundation, and conforms to the standards required by Title XI of the Federal Financial Institution, Reform, Recovery and Enforcement Act (FIRREA) of 1989.