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FUTURE DOUBLE MOUNTAIN ROAD MID-RISE RESIDENTIAL MID-RISE OFFICE EXTENSIONFUTURE AVENUE MIDTOWN CITY CENTER CITY CENTER OPTION A SENIOR HOUSING OR CONDO DEVELOPMENT LAND • OFFERING MEMORANDUM MEDICAL REF. PAGE 2 SINGLE FAMILY

TRAIL CORRIDOR RESIDENTIAL MID-RISE CITY CENTER 5.751 ACRE LAND DEVELOPMENTROAD OPPORTUNITY MIXED USE NEIGHBORHOOD OPTION B MIDTOWN DRIVE MID-RISE PARK REF. PAGE 3 MIXED USE POND RETAIL BIRD MULTI-FAMILY HOUSING

SOUTH EAST LOW-RISE OFFICE RECREATION MID-RISE CENTER COMMUNITY PARK MIXED USE RETAIL

LAKE PLAZA POOL

AMPHITHEATER LOW-RISE MULTI-FAMILY RETAIL/OFFICE HOUSING

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LAKE PARK ENTERTAINMENT DESTINATION LAKEWAY DRIVE

HOTEL NATURAL PARK FUTURE EXTENSION CITY SOUTH REF. PAGE 5 SUBJECT FUTURE DEVELOPMENT SITE

LAKE PARK REF. PAGE 6 LICK CREEK

FUTURE EXTENSION

HIGHWAY 6 FUTURE TRAIL CONNECTION LICK CREEK GREENWAY TRAIL FUTURE BUSINESS DISTRICT

RIALTO COLLEGE STATION, TX JANUARY 30, 2019 STUDIO MIDTOWN STATION 0 100 FT 200 FT 400 FT CONCEPTUAL MASTER PLAN | PAGE 1 SCALE: 1"=200'-0" NORTH EXECUTIVE SUMMARY

MIDTOWN CITY CENTER

EXECUTIVE SUMMARY

Holliday Fenoglio Fowler, L.P. (“HFF”) is pleased to offer qualified investors the unique opportunity to purchase a site within Midtown City Center, a 5.751-acre land parcel permitted for senior housing (“The Property” or “The Site”) located in College Station, TX. Fueled by A&M University (Enrollment: 69,000+), College Station has experienced unprecedented population growth of 24% since 2010. Situated off S Earl Rudder Freeway (Highway 6) at the intersection of Lakeway Drive and Bird Pond Road, the picturesque Site overlooks the tranquil Lake Park Pond and is strategically located less than one mile from Baylor Scott & White Medical Center – College Station and the College Station Medical Center. Midtown City Center’s unrivaled location, lack of competing senior housing product and proximity to the area’s best hospitals combine to make it one of the most compelling senior housing land offerings in Central Texas. PROPERTY OVERVIEW

Location Midtown City Center Lakeway Drive, College Station, Texas 77845 Acreage 5.751 Acres Parcel # 413245 County/City/State Brazos/College Station/Texas Current Zoning PDD | Planned Development District Current Use Raw Land On-Site Detention None Parking Require- 1 Space for 1st Bedroom and 0.5 Spaces for ments Each Additional Bedroom TIA Complete - No Mitigation Required Environmental Clear Utilities To Site Density No Max

4 MIDTOWN CITY CENTER SITE MASTER PLAN

ROCK PRAIRIE ROAD CITY CENTER RESIDENTIAL REF. PAGE 4

FUTURE EXTENSION BAYLOR SCOTT AND WHITE MEDICAL CENTER TOWN SQUARE TOWNHOMES

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FUTURE DOUBLE MOUNTAIN ROAD MID-RISE RESIDENTIAL MID-RISE OFFICE EXTENSIONFUTURE AVENUE CITY CENTER OPTION A MEDICAL REF. PAGE 2 SINGLE FAMILY

TRAIL CORRIDOR RESIDENTIAL MID-RISE CITY CENTER ROAD MIXED USE NEIGHBORHOOD OPTION B MIDTOWN DRIVE MID-RISE PARK REF. PAGE 3 MIXED USE POND RETAIL BIRD MULTI-FAMILY HOUSING

SOUTH EAST LOW-RISE OFFICE RECREATION MID-RISE CENTER COMMUNITY PARK MIXED USE RETAIL

LAKE PLAZA POOL

AMPHITHEATER LOW-RISE MULTI-FAMILY RETAIL/OFFICE HOUSING

RESTAURANT

LAKE PARK ENTERTAINMENT DESTINATION LAKEWAY DRIVE

HOTEL NATURAL PARK FUTURE EXTENSION CITY SOUTH REF. PAGE 5 SUBJECT FUTURE DEVELOPMENT SITE

LAKE PARK REF. PAGE 6 LICK CREEK

FUTURE EXTENSION

HIGHWAY 6 FUTURE TRAIL CONNECTION LICK CREEK GREENWAY TRAIL FUTURE BUSINESS DISTRICT

RIALTO COLLEGE STATION, TX JANUARY 30, 2019 STUDIO MIDTOWN STATION MIDTOWN CITY CENTER 5 0 100 FT 200 FT 400 FT CONCEPTUAL MASTER PLAN | PAGE 1 SCALE: 1"=200'-0" NORTH INVESTMENT HIGHLIGHTS

PROMINENT SURROUNDING DEMAND DRIVERS • Midtown City Center is situated approximately 2.0 miles from Texas A&M University, the largest university in Texas and SENIOR second largest in the United States with an enrollment in excess of 65,000 students. The University provides full and POPULATION part-time job opportunities for retirees looking to maintain an active lifestyle. GROWTH • The Site is ideally located less than one mile from Baylor Scott & White Medical Center – College Station and the College SINCE 2013 Station Medical Center providing over 300 beds in the immediate area for future residents. • Anchored by the Post Oak Mall, College Station has a dynamic retail market offering residents various shopping, dining and entertainment options across the city. Within one mile of the Site there are various national retailers and eateries including WalMart, Kroger, CVS, Whataburger, Cotton Patch Café and Starbucks. • Driven by the University, College Station has a robust hospitality market offering visiting family members plenty of 16.5% affordable options. Within a five-minute drive of the Site is the Courtyard by Marriott Bryan College Station, La Quinta Inn & Suites by Wyndham and Microtel Inn & Suites by Wyndham among others.

SUPERIOR CONNECTIVITY & ADVANCING DEMOGRAPHICS • Strategically positioned less than one mile from Highway 6, the Site offers superior connectivity to some of Texas’ major thoroughfares including Highway 290, U.S Highway 79 and Interstate 35. • College Station is located in the heart of the -Dallas-Austin- “Texas Triangle”, which is within a two- hour drive of 26 million of the state’s 28 million residents. • The College Station-Bryan MSA is home to more than 260,000 residents and the population is projected to more than double by 2050. DISTANCE TO HWY 6 • With a diversified economy centralized around education, energy, transportation, agriculture and healthcare, the median household income in College Station has increased by 5.0% over the last year. <1 MILE

6 MIDTOWN CITY CENTER SYNERGISTIC PLANNED DEVELOPMENT • The land surrounding the Site is in the advanced stages of planning and completing horizontal infrastructure for additional accretive nearby developments including office, retail, multifamily and single-family homes. • Approximately 5.8 acres of developable land with entitlements in place for a senior housing or condo development. • Adjacent to the Site, there is a planned Beer Garden/Icehouse restaurant concept that will serve as a natural amenity for the future residents. • Approximately 112 acres have been sold to a prominent single-family home builder, taking down 75% of the single-family lots with homes prices ranging between $275,000 and $350,000.

STRONG SENIOR HOUSING DEMAND WITH AN AGING POPULATION • With favorable tax laws, desirable climate, low crime rates, an active downtown and quality medical facilities, College Station has been consistently ranked as one of the best places to retire in the nation. • Although the city has a median age of 22 years old, College Station has a growing population of seniors with people over 60 years old making up over 8.5% of the total population, a 16.5% increase since 2013. HISTORICAL ENROLLMENT • The lack of seniors housing/assisted living options in College Station has increased demand throughout the city, resulting TEXAS A&M UNIVERSITY in limited options for seniors looking for a place to call home. Enrollment Total Student % Year Population Change 1948 8,536 -17% 1958 7,077 80% LARGE ENROLLMENT 1968 12,733 138% INCREASE RETIRING NOW 1978 30,255 29% 1988 39,079 11% 1998 43,442 11% 2008 48,039 44% 2018 69,228 *The large classes of 1978 and above are reaching the age of retirement

MIDTOWN CITY CENTER 7 LOCATION OVERVIEW

MIDTOWN CITY CENTER

LOCATION OVERVIEW

College Station – Bryan MSA 2038

2223 R S College Station, with an MSA population in excess of 260,000, has a diversified economy anchored by Texas A&M University. O 21 Y W College Station is located within , which is known as a high growth, high quality location with access to a H Grassbur Rd e t a t highly educated workforce, a low-cost business environment, and a high quality of life. The unemployment rate in CS/B has S

X Coulter Field T dropped to 2.7% which is below the national average of 3.9%. The MSA is projected to nearly double its population to an

Lake M Cobb Rd estimated byu m2050 according to Jim Gaines, chief economist for the Texas Real Estate Center at Texas A&M. For most of Bryan fo N Texas Ave rd 190 R Sand d y P 2017, the College Station-Bryan MSA was the fastest-growing in the state, percentage-wise. oin t Rd

1179 Steep Hollow Rd Elmo Weedon Rd

Homola Rd BRYAN

t S k c E 29th St a

b

Harvey Mitchell Pkwy S s Boonville Rd e S College Ave o r G 21 University Dr E

Texas Ave

Wellborn Rd 30 COLLEGE STATION Leonard Rd

47 6 W Villa Maria Rd

George Bush Dr Southwest Pkwy

Holleman Dr MIDTOWN

Easterwood CITY CENTER Airport Rock Prairie Rd W

Deacon Dr

Graham Rd N Dowling Dr

Barron Rd

10 MIDTOWN CITY CENTER COLLEGE STATION ECONOMIC OVERVIEW

Primary market drivers are Education, Energy, Transportation, Healthcare, and AgriLife. These broad industry sectors capture a large portion of the new-age research enterprise system. College Station’s strategic location continues to attract new investment from large neighboring markets. The city lies inside of the Texas Triangle, also known as the megaregion consisting of Houston, San Antonio, Austin and Dallas-Fort Worth and is within a two-hour drive of 26 million of the state’s 28 million residents. College Station serves as key logistics hub for industries and offers a unique and affordable lifestyle alternative for individuals in the region. Texas A&M University Texas A&M University (“TAMU” or “A&M”) opened in 1876 as the first public institution of higher education in Texas and features the largest campus in America, spanning 5,200 acres. Texas A&M is a Tier-1, public research University that is the 2nd largest enrollment in the country and largest in Texas with more than 69,000 students. TAMU holds membership in the prestigious Association of American Universities, one of only 61 institutions with this distinction. The University is ranked among the top 20 Universities nationally for research, conducting more than $705 million annually and ranked 3rd only behind MIT and the University of Berkeley for Universities without medical schools. Texas A&M University is the area’s largest employer with over 20,000 employees and is rapidly becoming one of the largest research Universities in the United States. Enrollment has grown over 18% in the last ten years and has averaged 3% in recent years. Texas A&M is the largest University in Texas and the fourth largest in the United States. The George Bush Presidential Library and Museum opened in 1997 on west campus, making Texas A&M one of only a few Universities to host a presidential library on their campus.

TOTAL UNDERGRADUATE RESEARCH ENROLLMENT DEGREE PROGRAMS EXPENDITURES ENDOWMENT IN 2017

69,367 128 $905 $10.8 STUDENTS MILLION BILLION

MIDTOWN CITY CENTER 11 UPCOMING COLLEGE STATION DEVELOPMENT

UPCOMING DEVELOPMENT IN SOUTH COLLEGE STATION 30+AC

300 UNITS 1750 70+AC 40+AC UNITS 100 HOMES L 200+AC AK EW 725 HOMES AY D R

65+AC 150 HOMES 280+AC P E B 550 HOMES B L E C R E E 40+AC K P K W Y 50+AC

40 50+AC

400 150+AC UNITS 450 HOMES

550+AC 900+AC 2000 HOMES 1200 HOMES

70+AC 150 HOMES 300+AC 200 HOMES RETAIL DEVELOPMENT *Numbers shown are estimated values

RESIDENTIAL DEVELOPMENT *Numbers shown are estimated values MULTI-FAMILY DEVELOPMENT *Numbers shown are estimated values

12 MIDTOWN CITY CENTER LOCATION OVERVIEW

OIL & GAS EXTRACTION Oil and gas extraction will continue to drive growth in the College Station region. The Texas A&M University system has benefited from oil and gas royalties drawn largely from the Permian Basin. Extraction-related research at A&M is attracting investment as well. The metro’s proximity to the Barnett Shale formation has also fostered job and income growth in natural gas drilling, boosting housing demand and consumer spending. Support activities for mining exhibited some of the fastest payroll growth among B/ CS industries from mid-2010 to mid-2012. Though exploration in the Barnett formation has plateaued, the Permian Basin accounts for about 14% of total U.S. oil production, suggesting that extraction will provide financial support for A&M long-term.

HEALTH & MEDICAL Baylor Scott & White Medical Center is a recently developed 98-acre hospital campus with 402,000 square foot hospital and 125,000 square foot clinic. The College Station Center is also a nationally accredited Chest Pain and Level III Trauma Center. CHI St. Joseph Regional Health Center is a 310-bed facility with 34 emergency rooms that can treat up to 80,000 emergency patients per year. The Center recently underwent a $22.2M emergency and trauma center expansion. Physicians Center is general medical and surgical hospital with the highest rated patient satisfaction rates in the Brazos Valley. The 46,000 SF facility includes a medical- surgical floor consisting of 16 patient suites, six operating rooms and two endoscopy suites.

MIDTOWN CITY CENTER 13 TOURISM Bryan/ College Station’s tourism is cashing in on the robust growth throughout the state and will remain a key driver for the metro area. The renovation of , Texas’ largest football stadium, has proved to be a huge attraction for tourists. The George Bush Presidential Library and Museum is located on a 90-acre site on the west side of Texas A&M’s campus and brings more than 125,000 annual visitors to College Station. The facility, which was dedicated in November 1997 and is the official presidential library of George H. W. Bush, underwent a complete renovation in 2007. College Station is serviced by the , which is owned by Texas A&M. The regis served by American Airlines and United Airlines. RESEARCH VALLEY / BIOCORRIDOR The Research Valley/Biocorridoor is located in the center of the Texas Triangle, anchored by the College Station Metropolitan Area. The Research Valley is a new-urban community aimed at providing current and next generation education programs to high ascending professionals. Furthermore, utilizing such talent to maximize innovation in Bio & Health Sciences. The Research Valley is one of the best places to launch, grow and locate businesses. This BioCorridor has become the epicenter of Texas’ emerging biotech industry. The Research Valley hosts numerous private and public biomanufacturing and research facilities and is home to the Texas A&M Health and Sciences Center campus. Since 2007, the BioCorridor has received over $1.1B in capital investment. Major firms with a local presence include: National Center for Therapeutics Manufacturing, Fujifilm Diosynth Biotechnologies, GlaxoSmithKline, Caliber Biotherapeutics and G-Con LLC.

14 MIDTOWN CITY CENTER ROCK PRAIRIE ROAD CITY CENTER RESIDENTIAL REF. PAGE 4

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FUTURE DOUBLE MOUNTAIN ROAD MID-RISE RESIDENTIAL MID-RISE OFFICE EXTENSIONFUTURE AVENUE CITY CENTER OPTION A MEDICAL REF. PAGE 2 SINGLE FAMILY

TRAIL CORRIDOR RESIDENTIAL MID-RISE CITY CENTER ROAD MIXED USE NEIGHBORHOOD OPTION B MIDTOWN DRIVE MID-RISE PARK REF. PAGE 3 MIDTOWNPOND CITY CENTER MIXED USE RETAIL SENIOR HOUSINGBIRD OR CONDO DEVELOPMENT LAND MULTI-FAMILY HOUSING

SOUTH EAST LOW-RISE OFFICE RECREATION MID-RISE CENTER COMMUNITY PARK MIXED USE RETAIL

LAKE PLAZA POOL

AMPHITHEATER LOW-RISE MULTI-FAMILY RETAIL/OFFICE HOUSING

RESTAURANT

LAKE PARK ENTERTAINMENT DESTINATION LAKEWAY DRIVE

HOTEL NATURAL PARK FUTURE EXTENSION CITY SOUTH REF. PAGE 5 SUBJECT FUTURE DEVELOPMENT SITE

LAKE PARK REF. PAGE 6 LICK CREEK DEAL TEAM ZACH RIGBY JASON SKALKO GARRETT GILLELAND Director Director Director 214.692.4705 469.232.1944 512.532.1968 FUTURE EXTENSION [email protected] [email protected] [email protected]

SCHAFER SMARTT KYLE SHAFFER CHRIS MCCOLPIN HIGHWAY 6 Analyst Analyst Senior Director FUTURE TRAIL

512.532.1971 CONNECTION 512.532.1934 512.532.1941 [email protected] [email protected] [email protected] LICK CREEK GREENWAY TRAIL FUTURE BUSINESS DISTRICT

RIALTO COLLEGE STATION, TX JANUARY 30, 2019 STUDIO MIDTOWN STATION 0 100 FT 200 FT 400 FT CONCEPTUAL MASTER PLAN | PAGE 1 SCALE: 1"=200'-0" NORTH