MULTI-HOUSING INVESTMENT OPPORTUNITY

VANTAGE FRANKLIN PLAZA apartments apartments 298 UNITS • • COUNTY • 80 UNITS • HOLLYWOOD • LOS ANGELES COUNTY • CALIFORNIA

Holliday Fenoglio Fowler, L.P., acting by and through Holliday GP Corp., a real estate broker licensed with the California Department of Real Estate, California License Number 01385740. Vantage Property Summary Franklin Plaza Property Summary

1710 North Fuller Avenue 7230 Franklin Avenue ADDRESS ADDRESS Los Angeles, CA 90046 Los Angeles, CA 90046

UNITS 298 units UNITS 80 units

SQUARE FOOTAGE ±164,056 SQUARE FOOTAGE ±62,963

YEAR BUILT 1987 YEAR BUILT 1974 (Not subject to rent control)

ASSET TYPE 4-Story Podium ASSET TYPE 3-Story Podium

ACREAGE 1.92 ac (155.2 du/ac) ACREAGE ±0.84 ac (95.2 du/ac)

PARKING SPACES 440 (1.48 per unit) PARKING SPACES 83 (1.04 per unit)

New ownership will assume FINANCING Free and Clear existing 10-year fixed-rate VANTAGE (298 units) and FRANKLIN PLAZA (80 units) TIAA first mortgage FINANCING -Current balance: $43,211,598 -Interest rate: 3.90% are podium-style apartment communities located in the heart of Hollywood, a bustling -Maturity date: 9/1/2022

neighborhood in Los Angeles that continues to be the pulse of the growing and evolving *see OM for further information on in-place debt

entertainment industry. In an area where apartment demand is consistently driven by an

impressive job base, the exorbitant cost of home ownership, and dreams of Hollywood

success, these assets will benefit from strong market fundamentals while still offering

significant operational upside.

2 VANTAGE FRANKLIN PLAZA 3 Investment Highlights

VANTAGE: GREAT VIEWS WITH VALUE-ADD POSSIBILITIES FRANKLIN PLAZA: STRIKING FACADE WITH VALUE ADD POSSIBILITES Already a well-performing property, Vantage offers new ownership the opportunity to increase value by finishing out a Franklin Plaza’s upgraded exterior combines Hollywood glamor with Old World charm, resulting in drive-by appeal proven value-add program that includes upgrading interior finishes, installing vinyl wood plank flooring and washer/ that is unmatched in the immediate neighborhood. New ownership can build upon the property’s impressive facade dryers in the apartments. In addition to interior upgrades, enhancements to the building exterior and common area by enhancing the common areas and performing additional upgrades to home interiors in order to fully modernize amenities will help capitalize on the property’s excellent location and coveted city views, allowing Vantage to compete the property and create a more vibrant Hollywood feel. with newer communities within the Hollywood submarket.

EXCELLENT RENTER DEMOGRAPHICS PRIME RESIDENTIAL LOCATION WITH HOLLYWOOD PUBLIC TRANSIT AND FREEWAY ACCESS AT THE READY COMMERCIAL CONSTRUCTION BOOMING Within a 3-mile radius of the properties ±77% of residential PERKS The properties are a five-minute walk from the Hollywood/ Multiple commercial/office developments throughout the units are renter occupied, demonstrating the demand for Locals enjoy the best of both worlds: the world class restaurants, Highland Station where the Red Line runs from North Hollywood Hollywood submarket are proposed or in development totaling apartment homes. This pool of potential residents are bars, and cafes that cater to local residents and tourists, as to Union Station in connecting to all ±3 million square feet of new commercial space, which should professionals (±73% hold white collar occupations), well well as a residential area that is just far enough off the world- other lines. They are also less than two miles from the bring a further influx of jobs. educated (±52% of residents hold a Bachelor’s Degree or renowned to offer a quiet respite. Hollywood Freeway (I-101) and one mile from the Santa Monica higher), and high earners (median income of $81,357). Boulevard (SR-2), offering easy access to destinations (Nielsen) LEAVE THE CAR PARKED: A WALKERS PARADISE throughout Los Angeles and Southern California. Vantage and Franklin Plaza are considered a “Walker’s August 2015: Netflix inked a 10 year lease for a STRONG APARTMENT FUNDAMENTALS Paradise with a walkability score of 90 out of 100. Daily SURROUNDED BY JOB CENTERS total of 200,052 square feet at the brand new The effective rent in the Hollywood submarket is expected to errands, dining and entertainment can all be reached without In the surrounding ten miles of Vantage Apartments and Franklin ICON office tower at Sunset Bronson Studios. The increase an average of 4.1% per year over the next five years, the use of a vehicle, and popular hiking spot Runyan Canyon Plaza there are three major job centers, six major film production approximately 400 Netflix staffers at there current Beverly Hills office will be moving to the new and occupancy is forecast to average 94.3% over the same is a short walk from the properties. studios, and 67 million square feet of office space. building and the company plans to add an period. (Axiometrics) undisclosed number of new jobs.

4 VANTAGE FRANKLIN PLAZA 5 Apartment Home Features Community Features

VANTAGE VANTAGE ▶▶ Granite countertops ▶▶ Landscaped, rooftop sundeck terrace with views of the Hollywood Hills and ▶▶ 42” LCD TV above the fireplace Downtown LA ▶▶ Carrara marble tiled fireplaces in select ▶ 24-hr fitness center with treadmills, units ▶ elliptical machines, stationary bikes, and ▶▶ GE Stainless Appliance package in select free weights units ▶▶ Pool and lounge area ▶▶ Custom wood cabinetry with European ▶ Controlled access entry style steel cabinet pulls ▶ ▶▶ Pet friendly ▶▶ Private patio/balcony ▶▶ Common area WiFi ▶▶ Central heating and air conditioning

FRANKLIN PLAZA FRANKLIN PLAZA ▶▶ Granite countertops with 4-inch back- ▶▶ Fitness center with weights, splash in kitchens and bathrooms cardiovascular equipment, treadmills, elliptical, and life cycle ▶▶ HD flatscreen TV above the fireplace ▶▶ Pool and spa ▶▶ Washer/dryer in every unit ▶▶ Controlled access entry ▶▶ GE Stainless Appliance package in select units ▶▶ Pet friendly ▶▶ 1.4 cubic ft. stainless steel over-the-range ▶▶ Common area WiFi microwave oven ▶▶ Covered parking ▶▶ Tonusa German engineered cabinets with ▶▶ Outdoor sitting area with water feature stainless steel pulls ▶▶ Private patio/balcony ▶▶ Central heating and air conditioning

6 VANTAGE FRANKLIN PLAZA 7 DOWNTOWN MIRACLE MILE Hollywood/ LOS ANGELES Vine Technicolor Pantages Arclight Theatre Cinemas The Los Angeles CNN Film School W Hollywood The Egyptian Hollywood High Hollywood and Theatre Trailer Park School Highland Center

El Capitan Theatre TCL Chinese Theatre Roosevelt Hotel Madame Tussauds Hollywood The Hollywood Chamber of Commerce

Live Nation

Hollywood Blvd

N La Brea

Frankllin Ave

FRANKLIN PLAZA apartments

N Fuller Ave VANTAGE apartments

Atlanta Austin 18300 Von Karman Avenue, Suite 900 Boston Irvine, CA 92612 Carolinas T 949.253.8800 | F 949.253.8810 Chicago Dallas © 2015 HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial Denver real estate and capital markets services to the U.S. commercial real estate industry. HFF Houston together with its affiliate HFFS offer clients a fully integrated national capital markets platform Indianapolis including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Los Angeles Twitter at twitter.com/hff. Miami New Jersey Holliday Fenoglio Fowler, L.P., acting by and through Holliday GP Corp., a real estate broker licensed with the California Department of Real Estate, California License Number 01385740. New York City Orange County (CA) Holliday Fenoglio Fowler, L.P. (“HFF”) has been engaged by the owner of the property to market it for sale. Information concerning the property described herein has been obtained from sources Orlando other than HFF; we make no representations and offer no warranties, explicit or implied, as Philadelphia to the accuracy or completeness of such information. Any and all references to age, square Pittsburgh footage, income, expenses and any other property-specific information are approximate. Any assumptions, estimates or conclusions contained herein are based on professional opinion. Portland (OR) Projections are not guided by a predictive science, but are subject to unforeseen market San Diego variables and conditions. The Buyer therefore understands and acknowledges that opinions herein are based on HFF professionals’ judgments predicated on past experience and formed San Francisco in light of relevant data. They are used for illustrative purposes only and may be based on Tampa assumptions, or due diligence criteria, different from that employed by the Buyer. Buyers should Washington, D.C. conduct their own independent investigation and rely on those results. Information contained herein is subject to change.

Sean P. Deasy Mark A. Petersen For underwriting questions, contact To schedule a property tour, contact Co-Head of National Managing Director Matt Benson Tanya Von Marschner Multi-Housing Investment Sales 949.798.4125 Real Estate Analyst Production Coordinator 949.798.4120 [email protected] 949.798.4112 949.798.4124 [email protected] CA Lic. 01886631 [email protected] [email protected] CA Lic. 00914616 CA Lic. 01741872