The Edge on Seventeen

THE EDGE ON SEVENTEEN

2501 W. OCOTILLO ROAD | PHOENIX, AZ | 85017 52-UNIT MULTIFAMILY INVESTMENT OPPORTUNITY OFFER SOLICITATION PROCESS

PROPERTY VISITATION Prospective purchasers will have the opportunity to visit the property via pre-scheduled property tours. These tours will include access to a representative sampling of units and access to maintenance and other similar facilities. In order to accommodate the property’s ongoing operations, property visitation will require advance notice and scheduling.

OFFER SUBMISSION Offers should be presented in the form of a non-binding Letter of Intent, spelling out the significant terms and conditions of Purchasers’ offers including, but not limited to (1) asset pricing, (2) due diligence and closing time frame, (3) earnest money deposit, and (4) qualifications to close. The purchase terms shall require all cash to be paid at closing. Offers should be delivered to the attention of Ryan Ash and Mike Woodrick using the email or fax number information listed below.

CONTACT INFORMATION Ryan Ash Senior Managing Director Tel: 602-852-3784 [email protected]

Mike Woodrick Director Tel: 602-852-3789 [email protected]

ARA - Phoenix 2398 E. Camelback Road Suite 950 Phoenix, Arizona 85016 Tel: 602-252-4232 Fax: 602-252-4236 www.ARAnewmark.com

2 TABLE OF CONTENTS

03 EXECUTIVE SUMMARY

07 PROPERTY OVERVIEW

12 VALUATION SUMMARY

16 COMPARABLE SALES

22 AREA OVERVIEW

33 CONTACT

EXECUTIVE SUMMARY

DOWNTOWN PHOENIX CAMELBACK CORRIDOR CENTRAL CORRIDOR

THE EDGE ON SEVENTEEN

4 THE OPPORTUNITY INVESTMENT HIGHLIGHTS The Edge on Seventeen is a 54-unit apartment community located in Phoenix, AZ. The property has great visibility and frontage just west of the Interstate-17 which provides residents convenient • Majority 2 Bedroom Units access to Downtown Phoenix just 10 minutes to the south. Nearby schools and parks, include SS. • 1982 Construction, Individually Metered Simon & Jude Cathedral School, Bennett Academy, Montebello Elementary School, Washington • Great Frontage and Visibility Park and Mariposa Park. The community is also within 5 minutes of two major employment and • Pool, On-Site Laundry and Leasing Office entertainment centers with Christown Spectrum Mall and Metrocenter Mall. Furthermore, within 2 miles of the community is the booming Grand Canyon University, which has recently gone • Recent Capital Improvements through a $100 million dollar renovation and has another $500 million dollar renovation planned • New Signage and Exterior Paint in the upcoming years. This provides a tremendous benefit to the local submarket through added • New Landscaping Throughout employment and educational opportunities. • New Wood Vinyl Flooring

The Edge on Seventeen was constructed in 1982 of wood frame, with a stucco exterior, pitched • Painted Cabinets & Resurfaced Countertops roofs and is individually metered. The property has a great unit mix of 48 Two Bedroom/One Bath • Value Add Through Enhanced Interior units and 6 One Bedroom/One Bath units. The 89% 2 Bedroom unit mix provides an investor a Upgrades great advantage to maximize rent and offer majority 2 Bedroom units, which are in the highest • Ability to Add Washer & Dryers in Units demand. Community amenities include a pool and sundeck, on-site laundry facilities, on-site leasing office, and the community is gated. Current ownership purchased the property in 2014 • Near Booming Grand Canyon University and has done a number of improvements to the property including new exterior paint, signage, stacked stone outside office entry, reseal and stripe of parking lot, new landscaping throughout, and a majority of the units have been turned and partially upgraded with wood vinyl, painted cabinets, resurfaced countertops, appliances, and faucets and fixtures as needed. These improvements have resulted in an increase in rents of over $250 on average. Further upside in rents of $50-$100 could be achieved by an investor by implementing second generation interior upgrades. Those interiors upgrades include more modern finishes and colors as has been the trend with investors in the Central corridor and is now being pushed into the West Phoenix submarket. Furthermore, the units have the space and ability to add washer & dryers in the units, which is in high demand and could further push rent upside by $50.

The Edge on Seventeen offers an investor a majority 2 bedroom unit community that has great frontage and visibility and has benefited from recent capital improvements by ownership while still providing a Buyer with further rental upside.

5 TERMS OF THE OFFERING

TOTAL UNITS 54

YEAR BUILT 1982

PRICE $5,350,000

PRICE PER UNIT $99,074

RENTABLE SF 39,300

AVERAGE SF PER UNIT 728

PROFORMA CAP RATE 6.13%

AVERAGE RENT PER UNIT $748

AVERAGE RENT PER SF $1.03

6 PROPERTY OVERVIEW

7 CAMELBACK CAMELBACK MOUNTAIN CORRIDOR

WASHINGTON PARK

THE EDGE 8 ON SEVENTEEN DOWNTOWN PHOENIX GRAND CANYON UNIVERSITY

SS. SIMON & JUDE CATHEDRAL SCHOOL

THE EDGE ON SEVENTEEN 9 WESTGATE GRAND CANYON ENTERTAINMENT UNIVERSITY DISTRICT

SS. SIMON & JUDE CATHEDRAL SCHOOL

THE EDGE ON SEVENTEEN

10 PROPERTY DETAILS

SQUARE PROFORMA MARKET PROFORMA MARKET The Edge on Seventeen UNIT TYPE NO. OF UNITS FEET RENT/MONTH RENT/SQUARE FOOT Apartments 1 BED / 1 BATH 2 550 $629 $1.14 2501 W. Ocotillo Road ADDRESS: Phoenix, AZ 85017 1 BED / 1 BATH 2 550 $659 $1.20 1 BED / 1 BATH 2 550 $689 $1.25 COUNTY: Maricopa 2 BED / 1 BATH 16 750 $729 $0.97

YEAR BUILT: 1982 2 BED / 1 BATH 16 750 $759 $1.01 2 BED / 1 BATH 16 750 $789 $0.95 NUMBER OF UNITS: 54 TOTAL / AVG. 54 728 $748 $1.03 NUMBER OF 1 BUILDINGS: MECHANICAL SYSTEMS / METERING AMENITIES STORIES: 3 ELECTRICITY: Individually metered, resident paid POOL W/ SUNDECK WATER/SEWER: Owner paid SECURITY GATES RENTABLE AREA: 39,300 ON-SITE OFFICE TRASH DISPOSAL: Owner paid ON-SITE LAUNDRY AVERAGE UNIT SIZE: 728 CONSTRUCTION FEATURES

• Wood Frame and Stucco LAND AREA: 1.13 acres • Pitched Roof

11 12 VALUATION SUMMARY

13 Financial Analysis Executive Summary The Edge on Seventeen Phoenix, Arizona EXECUTIVE SUMMARY

PROPERTY OVERVIEW Proforma

Number of Units 54 Per Unit Dollars Year Built 1982 Effective Gross Income $9,212 $497,465 List Price $5,350,000 Less: Operating Expenses 2,888 155,967 Price per Unit $99,074 Less: Capital Reserves 250 13,500 Price per Square Foot $136.13 Net Operating Income 6,074 327,998 Rentable Square Feet 39,300 Debt Service 211,439 Average Square Feet per Unit 728 Net Cash Flow (6.23%) $116,559 Average Rent per Unit $748 Average Rent per SF $1.03

Financial Return Financing Terms

Down Payment $1,872,500 Proforma Cap Rate 6.13% Proposed New Loan $3,477,500 Proforma Cash on Cash Return 6.23% Loan-to-Value 65% Interest Rate 4.50% Loan Term 5 Years Amortization 30 Years Disclaimer This information has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

14 UNIT MIX AND CURRENT MARKET RENTS Unit Mix and Current Market Rents The Edge on Seventeen Phoenix, Arizona

Proforma Proforma Proforma Monthly Annual Unit No. of % Unit Proforma Rent Rent Rent Total Description Units Type Sq. Ft. Rents /Sq. Ft. Total Total Sq. Ft.

1 Bdrm / 1 Bath 2 3.7% 550 $629 $1.14 $1,258 $15,096 1,100

1 Bdrm / 1 Bath 2 3.7% 550 $659 $1.20 $1,318 $15,816 1,100

1 Bdrm / 1 Bath 2 3.7% 550 $689 $1.25 $1,378 $16,536 1,100

2 Bdrm / 1 Bath 16 29.6% 750 $729 $0.97 $11,664 $139,968 12,000

2 Bdrm / 1 Bath 16 29.6% 750 $759 $1.01 $12,144 $145,728 12,000

2 Bdrm / 1 Bath 16 29.6% 750 $789 $0.95 $12,624 $151,488 12,000

Total / Avg. 54 100.0% 728 $748 $1.03 $40,386 $484,632 39,300

Unit Mix

By Bedroom Type By Square Feet

1 Bed Eff 3% 2% 200 300 2% 3%

2 Bed 95%

800 95% Market Underwriting Analysis The Edge on Seventeen MARKETPhoenix, Arizona UNDERWRITING ANALYSIS

Proforma

INCOME Assumptions Gross Scheduled Rent $484,632 Gross Potential Income $484,632

Less: Vacancy (5.0%) (24,232) Total Rental Income 95.00% $460,400

Plus: Utility Income $386 $20,865 Plus: Other Income 300 16,200 Effective Gross Income $497,465

EXPENSES per unit Repairs & Maintenance $500 $27,000 Payroll 600 32,400 Administrative/Advertising 100 5,400 Utilities 822 44,418 Total Variable Expenses $2,023 $109,218 Taxes 325 17,533 Insurance 200 10,800 Management Fee 4.00% 18,416 Total Operating Expenses $2,888 $155,967 Plus: Capital Reserves 250 13,500 Total Expenses $3,138 $169,467

NET OPERATING INCOME $327,998

Debt Service New Financing - $3,477,500 (65% LTV) Debt Service (4.5% P & I) $211,439 Cash Flow After Debt Service (6.23%) $116,559

16 COMPARABLE SALES

17 COMPARABLE SALES APARTMENT NAME CITY UNITS PRICE $/UNIT $/SQ. FT. YOC SALE DATE

S The Edge on Seventeen Phoenix 54 $5,350,000 $99,074 $136.13 1982 TBD

1 Garden Springs Phoenix 32 $3,775,000 $117,969 $120.38 1984 1/17/2018

2 Villa Ventura Phoenix 50 $4,500,000 $90,000 $100.00 1963 1/31/2018

3 Camelback Gardens Phoenix 26 $2,250,000 $86,538 $74.59 1983 11/14/2017

4 Crowne Point Phoenix 35 $2,975,000 $85,000 $99.17 1970 11/7/2017

5 Twillingate Phoenix 52 $4,220,000 $81,154 $105.53 1973 1/31/2018

Averages 39 $3,544,000 $90,872 $100.39 1975

1 2 3

GARDEN SPRINGS VILLA VENTURA CAMELBACK GARDENS

4 5

CROWNE POINT TWILLINGATE 210 S Roosevelt St - Revival On Roosevelt 5 SOLD 1 Tempe, AZ 85281 2 210 S RooseveltSale St on -10/13/2016 Revival for On $3,000,000 Roosevelt ($180.93/SF; $150,000/Unit) - Research Complete 20 Unit, 16,581 SF Class C Apartments Building Built in 1988 SOLD 1 Tempe, AZ 85281 Sale on 10/13/2016GARDEN for $3,000,000 SPRINGS ($180.93/SF; $150,000/Unit)TWILLINGATE - Research Complete 20 Unit, 16,581 SF Class C Apartments Building Built in 1988 210 S Roosevelt St - Revival On Roosevelt SOLD Tempe, AZ 85281 1 Sale on 10/13/2016 for $3,000,0001 ($180.93/SF; $150,000/Unit) - Research Complete 20 Unit, 16,581 SF Class C Apartments Building Built in 1988 VILLA VENTURA

The Edge on Seventeen

Buyer & Seller Contact Info

Recorded Buyer: Roosevelt Park, LLC Recorded Seller: Revival Condominiums LLLP True Buyer: Patrick BoydBuyer & Seller Contact Info True Seller: Mentor Properties Patrick Boyd Cal Desouza Recorded Buyer: Roosevelt Park, LLC Recorded Seller: Revival Condominiums LLLP 1440 W 12th Pl 15169 N Scottsdale Rd True Buyer: Patrick Boyd Tempe, AZ 85281 True Seller: Mentor Properties Scottsdale, AZ 85254 Patrick Boyd (480) 747-4737 Cal Desouza (480) 710-1929 Buyer & Seller Contact Info 1440 BuyerW 12th Type: Pl Other - Private 15169Seller N Scottsdale Type: Developer/Owner-RGNLRd Tempe,Buyer AZ Broker: 85281 Jones Group Scottsdale,Listing Broker: AZ 85254Jones Group Recorded Buyer: Roosevelt(480) 747-4737 Park, LLC Recorded Seller: 5Revival(480) 710-1929 Condominiums LLLP True Buyer: Jim Jones True Seller: Jim Jones Buyer Type: PatrickOther - BoydPrivate Seller Type: MentorDeveloper/Owner-RGNL Properties (480) 607-7200 (480) 607-7200 Buyer Broker: PatrickJones GroupBoyd Listing Broker:CROWNECalJones Desouza POINT Group 1440 W 12th Pl 15169 N Scottsdale Rd Jim Jones Jim Jones Tempe, AZ 85281 Transaction DetailsScottsdale, AZ 85254 ID: 3731027 (480)(480) 747-4737 607-7200 (480)(480) 710-1929607-7200 Buyer Type: Other -Sale Private Date: 10/13/2016 Seller Type: Developer/Owner-RGNLSale Type: Investment Transaction Details ID: 3731027 Buyer Broker: JonesEscrow Group Length: - 3 Listing Broker: Jones GroupBldg Type: Apartments Jim JonesSale Price: $3,000,000-Confirmed JimYear4 Jones Built/Age: Built in 1988 Age: 28 Sale Date: 10/13/2016 Sale Type: Investment (480)Asking 607-7200 Price: - (480) 607-7200RBA: 16,581 SF Escrow Length: - Bldg Type: Apartments Price/SF: $180.93 Land Area: 0.61 AC (26,402 SF) Address Sale Price: $3,000,000-ConfirmedCity Property Info Year Built/Age:Sale Info Built in 1988 Age: 28 Price/SF Land Gross: $113.6316,581 SFTransaction Multi- Details ID: 3731027 1 210 S RooseveltAsking Price:St - Tempe Sold:RBA: $3,000,00016,581 ($150,000/Unit)SF Family/Apartments Price/SF: $180.93Percent Leased: - Land Area: 0.61 AC (26,402 SF) Sale Date: 10/13/2016 41,580 SF Multi- Sale Type: Investment 2 1133Price/SF W 5th Land St Gross: $113.63 Tempe Sold: $7,150,000 ($162,500/Unit) Escrow Length: - GRM/GIM: -/- Family/Apartments Bldg Type: PercentApartments Improved: 80.0% Total Value Assessed: Sale Price: $3,000,000-Confirmed- 13,300 SF Multi- Year Built/Age: Built in 1988 Age: 28$1,113,500 in 2015 3-1 407-411Percent W 7th Leased: St - Tempe Multi-Property Sale: $1,650,000 ($117,857/Unit) Asking Price: - Family/Apartments ImprovedRBA: 16,581 Value SFAssessed $890,900 GRM/GIM: -/- Percent Improved: 80.0% Price/SF: $180.93 13,300 SF Multi-CAMELBACK GARDENLand Area:Land0.61 Value AC Assessed: (26,402 SF)$222,600 3-2 419 W 7th- St Tempe Total Value Assessed:Multi-Property$1,113,500 Sale: $1,650,000 in 2015 ($117,857/Unit) Price/SF Land Gross: $113.63 Family/Apartments Land Assessed/SF: $8.00 Improved Value Assessed $890,900 Spacer 4 1214 S Farmer Ave Tempe 4,029 SF Multi-Family/ApartmentsLand Value Assessed:Sold: $660,000$222,600 ($110,000/Unit) Percent Leased: - Financing: Down payment of $0.00 (0.0%) $600,000.0021,600 SFfrom Multi- Sunny BelLand Group Assessed/SF: LLC $8.00 5 1700 S CollegeGRM/GIM: Ave -/- Tempe Percent Improved:Sold: $2,850,00080.0% ($91,935/Unit) Family/Apartments Spacer - Parcel No: 124-31-026G, 124-31-026HTotal Value Assessed: $1,113,500 in 2015 Financing: Down payment of $0.00 (0.0%) Improved Value Assessed 19$890,900 $600,000.00Document fromNo: Sunny0752001 Bel Group LLC Sale History: Sold for $3,000,000 ($180.93/SF;Land Value $150,000/Unit) Assessed: on$222,600 10/13/2016 Parcel No: 124-31-026G, 124-31-026HSold for $1,950,000 ($117.60/SF;Land Assessed/SF:$97,500/Unit) on$8.00 8/28/2014 Non-Arms Length Document No: 0752001 Sold for $1,075,000 ($64.83/SF;Spacer $53,750/Unit) on 3/20/2013 SaleFinancing: History: DownSold forpayment $3,000,000 of $0.00Sold ($180.93/SF; (0.0%) for $0 ($0/Unit) $150,000/Unit) on 5/27/2009 on 10/13/2016 Non-Arms Length Copyrighted report licensed to ARA, A Newmark Company - 7983. 1/11/2017 $600,000.00Sold for $1,950,000 from SunnySold ($117.60/SF; Belfor $1,800,000Group $97,500/Unit) LLC ($108.56/SF; on 8/28/2014 $90,000/Unit) Non-Arms on 12/19/2006 Length Sold for $1,075,000Sold ($64.83/SF; for $1,450,000 $53,750/Unit) ($87.45/SF; on 3/20/2013 $72,500/Unit) on 10/1/2004 Parcel No: 124-31-026G,Sold for $0 ($0/Unit) 124-31-026HSold on 5/27/2009for $1,200,000 Non-Arms ($72.37/SF; Length $60,000/Unit) on 12/12/2000 Copyrighted report licensed to ARA, A Newmark Company - 7983. Document No: 0752001Sold for $1,800,000Sold ($108.56/SF; for $851,064 $90,000/Unit) ($51.33/SF; on $42,553/Unit) 12/19/2006 on 11/19/1998 1/11/2017 Page 1 Sale History: SoldSold for for $3,000,000 $1,450,000 ($180.93/SF; ($87.45/SF; $72,500/Unit)$150,000/Unit) on on 10/1/2004 10/13/2016 SoldSold for for $1,950,000 $1,200,000 ($117.60/SF; ($72.37/SF; $60,000/Unit)$97,500/Unit) onon 12/12/20008/28/2014 Non-Arms Length SoldSold for for $1,075,000 $851,064 ($51.33/SF; ($64.83/SF; $42,553/Unit) $53,750/Unit) on on 11/19/1998 3/20/2013 Page 1 Sold for $0 ($0/Unit) on 5/27/2009 Non-Arms Length Copyrighted report licensed to ARA, A Newmark Company - 7983. Sold for $1,800,000 ($108.56/SF; $90,000/Unit) on 12/19/2006 1/11/2017

Sold for $1,450,000Copyrighted ($87.45/SF; report licensed $72,500/Unit) to ARA, A Newmark on Company10/1/2004 - 7983. Sold for $1,200,000 ($72.37/SF; $60,000/Unit) on 12/12/2000 1/11/2017 Sold for $851,064 ($51.33/SF; $42,553/Unit) on 11/19/1998 Page 1 Page 17 THE EDGE ON SEVENTEEN APARTMENTS lamar 2501 W. OCOTILLO ROAD, PHOENIX 85017 4227 w. lamar road S 85019

Property Information Sale Information Unit Type SF # of Units No. of Units: 54 Price: $ 5,350,000 1 Bedroom / 1 Bath 550 6 Year Built: 1982 Price Per Unit: $ 99,074 2 Bedroom / 1 Bath 750 48 NRA: 39,300 Price Per SF: $ 136.13 Totals 54 Sale Date: TBD

GARDEN SPRINGS APARTMENTS 6630 N. 27TH AVENUE, PHOENIX 85017 garden springs 6630 n. 27th avenue 1 85017

Property Information Sale Information Unit Type SF # of Units No. of Units: 32 Price: $ 3,775,000 2 Bedroom / 2 Bath 980 32 Year Built: 1984 Price Per Unit: $ 117,969 Totals 32 NRA: 31,360 Price Per SF: $ 120.38 Sale Date: 1/17/2018

20 VILLA VENTURA APARTMENTS villa ventur7125a N. 19TH AVENUE, PHOENIX 85021 7125 n. 19th avenue 2 85021

Property Information Sale Information Unit Type SF # of Units No. of Units: 50 Price: $ 4,500,000 2 Bedroom / 1 Bath 900 50 Year Built: 1963 Price Per Unit: $ 90,000 Totals 50 NRA: 45,000 Price Per SF: $ 100.00 Sale Date: 1/31/2018

CAMELBACK GARDEN APARTMENTS 2101 W. COLTER STREET, PHOENIX 85015 camelback gardens 2101 w. colter street 3 85015

Property Information Sale Information Unit Type SF # of Units No. of Units: 26 Price: $ 2,250,000 2 Bedroom / 1.5 Bath 1,225 15 Year Built: 1983 Price Per Unit: $ 86,538 2 Bedroom / 2 Bath 611 1 NRA: 30,166 Price Per SF: $ 74.59 2 Bedroom / 2 Bath 1,118 10 Sale Date: 11/14/2017 Totals 26

21 CROWNE POINT APARTMENTS crowne po1815int W. COLTER STREET, PHOENIX 85015 1815 w. colter street 4 85015

Property Information Sale Information Unit Type SF # of Units No. of Units: 35 Price: $ 2,975,000 2 Bedroom / 1 Bath 823 35 Year Built: 1970 Price Per Unit: $ 85,000 Totals 35 NRA: 30,000 Price Per SF: $ 99.17 Sale Date: 11/7/2017

TWILLINGATE APARTMENTS 7141 N. 19TH AVENUE, PHOENIX 85021 twillingate 7141 n. 19th avenue 5 85021

Property Information Sale Information Unit Type SF # of Units No. of Units: 52 Price: $ 4,220,000 1 Bedroom / 1 Bath 700 32 Year Built: 1973 Price Per Unit: $ 81,154 2 Bedroom / 1 Bath 900 20 NRA: 39,989 Price Per SF: $ 105.53 Totals 52 Sale Date: 1/31/2018

22 AREA OVERVIEW

G M

D A S IN . HONDA BOW RD. D 42600 N G R P NC IN S A H R R T R D P T S . E A G N L

V E 41000 N A N T H I V R A M E

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18E 19 20 S 21 A 22 23 24 25 26 27 28 29 30 C FL B

. RD DESERT HILLS DR. Y . To W – NEW RIVER CAVE CREEK K N R P Bartlett E . W HWY. Anthem RECREATION AREA TN O V CA Carefree M r T I AVE. S V RI E T e 74 MOR R SKYRANCH R Lake

JOY RANCH CR E v 87THAVE. RD. E i E to Wickenburg Cave K AIRPORT S W E R E D A . A D N Creek R 33RDAVE. 7TH

a Camp

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m Y 24TH ST.

a BEN AVERY SUMMIT W PASS K

y P

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32ND ST. s CAREFREE HWY. FACILITY 16TH ST. IL a Creek A R B H 74 B T

RD.

7TH ST. D BLACK CANYON FWY. LEGE N DOVE VALLEY RD. 187THAVE. DOVE VALLEY RD.

WHITE WING RD. LONE MOUNTAIN RD. ONE MOUNTAIN RD. TONTO C L C

171STAVE.

ST.

. 176TH ST. 176TH DIXILETA DR.

LAKE PLEASANT 136TH ST. 136TH

Burlington Northern Santa Fe RR

168TH ST. 168TH 118TH ST. 118TH

. ST. 160TH 144TH ST. 144TH

DACE LN. Creek 56TH ST 152ND PATTON RD. CROZIER RD. DYNAMITE BLVD. DYNAMITE BLVD. Y RIO VERDE DR.

163RD AVE. D 155TH AVE. D W River K

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203RD AVE. JOMAX RD. JOMAX RD. JOMAX RD.

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L 115TH Y N E

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B W

The Edge on Seventeen

W 9 303 NATION

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A LUKE LINCOLN DR. D L SARIVALAVE. . L AIRPORT R

M Y Glendale I ALSUP AVE. AIR BETHANY HOME RD. BETHANY HOME RD. McDONALD DR. McDONALD RD. S

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202 U DUTCHMAN

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Maricopa RD. GANTZEL 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 HUNT22 HWY. 23 24 25 26 27 28 29 30 118 OFFICIAL VISITORS GUIDE (877) CALL-PHX VISITPHOENIX.COM OFFICIAL VISITORS GUIDE 119 WASHINGTON PARK

The Edge on Seventeen

SS. SIMON & JUDE CATHEDRAL SCHOOL

CHRISTOWN SPECTRUM MALL

GRAND CANYON UNIVERSITY CHRISTOWN SPECTRUM MALL Located nearby lies over 1.1 million square feet of retail. This indoor mall has over 50 stores including Target, JC Penny, Costco, WalMart Supercenter, Petsmart and a 14 screen Harkins Theatre and plenty of dining options. METROCENTER MALL This mall was recently purchased by Carlyle Development Group and is currently undergoing a complete overhaul to become a more multi- purpose development including not just retail, but senior housing, medical centers, a multi-story office building and new anchor stores. Walmart has completed building their new store and are currently hiring 300 employees and expect to open in October of 2017. A future light rail expansion is expected to reach Metrocenter Mall by 2023.

SHOP PLAY

Washington Park • This large park has an Activity Center with a full size gymnasium, seven activity rooms and an auditorium. The center has a variety of activities and services to the public including programs from kids age to seniors. The park also include a lighted basketball court, exercise course, playground, pool, ramada and picnic area, restrooms, soccer field, lighted softball and sand volleyball court, and a lighted PetSmart dog park.

Christown YMCA • This family friendly non-profit has something for everyone in the family including before and after school child care programs, fitness classes, swim lessons, adult sports, and even certified personal trainers.

Boys and Girls Club • Serving children ages 6-18, this organization offers affordable after-school and summer programs for young people with programs such as Academic Success and Healthy Choices.

Glendale Public Library - Velma Teague Branch • The library’s collection includes Spanish-language and English-as-a-Second-Language materials, as well as a variety of newspapers, magazines, DVDs, and books. The library also offering daily events for family’s to enjoy such as Toddler Time, Bilingual Family Storytime, and we Read 30-day Challenge for kids. GRAND CANYON UNIVERSITY LEARNJust a short 5 minute drive away is the booming Grand Canyon University, a private, for-profit Christian university. With a fast growing student population of over 40,000 and 1,600 staff, GCU is currently undergoing massive expansion in every way. The 115-acre campus continues to experience an incredible, multi-million dollar expansion. A large portion of this expansion is complete, including a number of new residence halls, classroom buildings, dining facilities and student amenities.

• GCU is now a member of NCAA Division I with former Phoenix Suns shooting guard Dan Majerle overseeing GCU’s transition into NCAA Division I basketball.

• GCU has been recognized as a top-five online school for entrepreneurs by Fortune Magazine.

• With over a 100 majors and concentrations, GCU caters to traditional students through its campus based degree programs, as well as working adults who are offered the convenience of evening and online learning options. LIGHT RAIL • The 20-mile starter line, the longest starter line in federal New Starts grant history, opened in 2008. • Over 14 million riders use this transportation, making it the 12th busiest light rail in the country. • Recent expansion has included going eastward through the Downtown Mesa area and will continue on to Gilbert road and a northern expansion up to Dunlap Avenue. • The light rail provides rapid access to Downtown Tempe, Sky Harbor International Airport, Downtown Phoenix, and the Central Corridor.

The Edge on Seventeen

LEGEND LIGHT RAIL STATION

PARK-N-RIDE LOCATION

LIGHT RAIL MAJOR EMPLOYERS FORTUNE 500'S METRO PHOENIX EMPLOYMENT 1. Banner Health 1. Freeport-McMoRan 2. State of Arizona 2. Avnet 3. Walmart PROFESSIONAL & 4. County of Maricopa 3. Republic Services 13.2% BUSINESS SERVICES 5. Frys Food Stores 4. Insight Enterprises 6. Wells Fargo 7. Arizona State University 11.4% RETAIL 8. Intel Corporation 9. City of Phoenix HEALTHCARE PHOENIX10. Honeywell 10.2% PHOENIX IS...... 9.6% CONSUMER SERVICES TH A MEDIAN AGE OF 4 FINANCE, INSURANCE HIGHEST TOP 5 NATIONALLY FOR TECH 11.0% & REAL ESTATE CONCENTRATION 35.4 THE SIXTH YOUNGEST JOB GROWTH OF AEROSPACE METRO IN THE U.S. MANUFACTURING JOBS 6.9% EDUCATION TH GOVERNMENT EXPECTED TO GROW 6 MEDIAN HOUSEHOLD 5.9% INCOME OF LARGEST 43,000 CONSTRUCTION HEALTHCARE JOBS IN CONCENTRATION $53,310 5.5% THE NEXT DECADE OF DATA CENTERS NATIONALLY 3.8% TRANSPORTATION & DISTRIBUTION ND 3.4% HIGH TECH MANUFACTURING & #5 3RD 2 DEVELOPMENT IN THE NATION FOR LARGEST LABOR POOL LARGEST MILITARY HOSPITALITY, TOURISM & RECREATION INSTALLATION IN THE 3.4% BEST-QUALIFIED IN THE WEST WORLD GRADUATES

30 PHOENIX SKY HARBOR AIRPORT

#1 43,090 Employees at the Airport Best Airport in the U.S. $9.5 BILLION ANNUALLY USA Today 2016 Daily Activity Includes: +1,200 Aircraft +120,000 Passengers +800 Tons of Air Cargo Sky Harbor Airport has a Daily Economic Impact of Largest Commercial Airport in the American Southwest, 43 Million $79 MILLION Passengers in 2016, and Easy Access To and From Airport TH with Phoenix Sky Train and 34 BUSIEST IN THE Access to Light Rail Directly WORLD at Airport

31 THE CITY OF PHOENIX’S NOTABLE RANKINGS

#1 STATE FOR FUTURE JOB GROWTH

METRO PHOENIX RANKED TOP 20 EIGHTH BEST CITY 10 FASTEST TOP 5 BEST PLACES FOR GROWING CITIES FOR SMALL BEST CITY FOR FOR RECENT COLLEGE BUSINESSES WORKING PARENTS TECH STARTUPS GRADUATES SEEKING A JOB

ARIZONA STATE UNIVERSITY #1 IN SWIPING FINANCIAL PHOENIX TOP 10 14TH

#1 IN U.S. SAFEST CITY #1 AIRPORT JOBS FROM WALL STREET FISCALLY FIT IN THE U.S. - SKY HARBOR FOR INNOVATION CITIES IN THE US IN AMERICA

32 APPENDIX Disclosure Apartment Realty Advisors of Arizona, LLLP, a licensed Arizona Broker, commitment or obligations to any entity reviewing the Offering (collectively, the “Agent”) has prepared this material for limited use Memorandum or making an offer to purchase the Property or in the acquisition of certain Property or Properties, specifically, Edge Properties unless and until such offer for the Property or Properties on Seventeen Apartments in Phoenix, Arizona. is approved by the Owner, and any conditions to the Owner obligations thereunder have been satisfied or waived. The Offering Memorandum is not intended to provide a completely accurate summary of the Properties or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of This Offering Memorandum and the Contents, except such the information which prospective purchasers may need or desire. information which is a matter of public record or is provided in All financial projections are based upon assumptions relating to sources available to the public (such contents as so limited herein the general economy, competition, and other factors beyond the are called the “Contents”), are of a confidential nature and are not control of the Owner and the Agent, and therefore may be subject to be made available to persons not receiving copies directly from to variation. The Offering Memorandum does not constitute an the Agent. By accepting the Offering Memorandum, you agree that indication that there has been no change in the business or affairs you will hold and treat it in the strictest confidence, that you will of the Property or the Owner since the date of preparation of the not photocopy or duplicate it, that you will not disclose the Offering Offering Memorandum. Additional information and an opportunity Memorandum or any of the Contents to any other entity (except for to inspect the Property will be made available to interested and outside advisors retained by you if necessary, in your opinion, for qualified prospective purchasers. your determination of whether or not to make a proposal) without the prior written authorization of the Owner or Agent, and that you Neither the Owner nor the Agent nor any of their respective officers, will not use the Offering Memorandum or any of the Contents in agents or principals has made or will make any representations or any fashion or manner detrimental to the interest of the Owner or warranties, expressed or implied, as to the accuracy or completeness Agent. of the Offering Memorandum or any of the Contents (defined below), and no legal commitment or obligation shall arise by reason of the If you have no interest in acquiring either of the Properties at this Offering Memorandum or the Contents. Analysis and verification of time, kindly return the Offering Memorandum forthwith. the information contained in the Offering Memorandum is solely the responsibility of the prospective purchaser.

The Owner and Agent expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers to purchase the Property and/or terminate discussions with any entity at any time with or without notice. The Owner shall have no legal

33 DOWNTOWN PHOENIX CAMELBACK CORRIDOR CENTRAL CORRIDOR

THE EDGE ON SEVENTEEN

ARA Phoenix Ryan Ash Mike Woodrick 2398 E. Camelback Road Senior Managing Director Director Suite 950 T 602-852-3784 T 602-852-3789 Phoenix, AZ 85016 C 602-525-4877 C 480-540-1504 T 602-252-4232 [email protected] [email protected] www.aranewmark.com © ARA. All Rights Reserved