True Value-Add Opportunity

Fully Renovated/Under Performing

EXCLUSIVE INVESTMENT OFFERING The Point on Flamingo 189 Units | , NV Vegas Sauter Multifamily Advisors

Member of the NAI Global Worldwide Commercial Real Estate Network table of CONTENTS

04 24 The Opportunity Financial Analysis

06 29 Property Details Rent Comparables

17 36 The Location Las Vegas Demographics

CONTACT

Patrick Sauter Art Carll-Tangora Steve Nosrat T +1 702 534 1700 T +1 702 534 1701 T +1 702 534 1718 [email protected] [email protected] [email protected] License # B.0045077.LLC License # S.0167677 License # S.0176849 the OPPORTUNITY

THE POINT ON FLAMINGO

NAI Vegas, as exclusive advisor, is pleased to present The Point on Flamingo (the “Property”), a 189-unit multihousing investment opportunity in Las Vegas, . Located within the highly desirable and economically robust University submarket, The Point is directly adjacent to the University of Nevada Las Vegas as well as two major highway systems, I-215 and US-95, providing residents easy access to employers throughout . The Point on Flamingo offers renovated two bedroom roommate floorplans that feature home-like quality amenities and spacious interiors with the opportunity for new ownership to capitalize on improved management and occupancy. Community amenities include two swimming pools, a renovated fitness center, cyber cafe, and clubhouse. Residents benefit from an abundance of surrounding retail within walking distance of the Property, as well as local attractions. With significant barriers to entry for new product and a supply-constrained submarket, The Point on Flamingo presents a unique opportunity to acquire an attractive asset in a highly desirable multi-housing submarkets in Las Vegas

HIGHLIGHTS FOR THE POINT ON FLAMINGO: • Over $5.5 Million in Interior and Exterior Renovations • 100% Two Bedroom Two Bath units, Perfect for Roommates • Below Market Operations allowing for significant income growth • Adjacent to UNLV and the approx. 28,000 Full Time Students • Minutes from the • High End Interior Finishes Provides a Home-like living area. • All Cash or New Financing the OPPORTUNITY

INVESTMENT HIGHLIGHTS

• Completed Renovations with Upside Available: The property features all 1,010 SF two bedroom two bath units featuring high-end finishes, including all new bathrooms, kitchens, lighting and plumbing fixtures in all units. The property has experienced below market occupancy due to the renovations allowing an Investor to benefit from improved opertations without the risk of capital expenditures from undergoing renovations.

• Low Supply Market/Discount to Replacement Cost: The University submarket has seen no new market rate deliveries of multifamily product of scale (50+ units) in the past 12 months, with 553 (not including dedicated Student Housing construction) units scheduled to deliver in the submarket through 2020. As rapidly rising construction costs have suppressed supply across Las Vegas, The Point's unique opportunity and significant discount to replacement cost (Approx. $230,000 per unit) represents an opportunity to acquire an asset with lowered risk of competition.

• Freeway Accessibility: . The Point offers residents proximity to all three major Las Vegas freeways: I-215 (2 miles), I-15 (3 miles), I-515 (5 miles). With commutability to employment hubs such as the Las Vegas Strip and , residents at The Point are well connected to one of the nation’s fastest growing metropolitan areas.

• Superior Location: The Point on Flamingo is located in the University Submarket of the of the Las Vegas Metro. Resident are adjacent to the UNLV Campus and within 3 miles of the famed Las Vegas Strip and McCarran International Airport. Residents have an abundance of shopping, dining, entertainment and employment opportunities within walking distance of the property.

Vegas Sauter Multifamily Advisors detail 06PROPERTY PROPERTY DETAILS

THE OFFERING

ADDRESS AVERAGE PROFORMA YEAR BUILT/ LAND SIZE NET AVG UNIT PHYSICAL 939 & 936 E. # OF UNITS MARKET INCOME RENOVATED RENTABLE SF SIZE OCCUPANCY 4.89 AC RENT Flamingo Rd 1973/2018 189 190,890 1,010 SF 55% $2,147,010 Las Vegas, NV 89121 $1,335 the PROPERTY

Point on Flamingo is Located two miles east of the Las Vegas Strip and shares a common border with the UNLV Campus. The immediate area is comprised of all of the best entertainment and dining options that Las Vegas has to offer all of which are within walking distance. Some points of interest include, The Las Vegas Strip, McCarren Airport, Thomas and Mack Sports Arena and the University of Nevada, Las Vegas. You will also find in the immediate area a full spectrum of dining options ranging from casual dining to the most high-end restaurants in the city.

APARTMENT AMENITIES • Quartz Countertops 2BD/2BA • Highly Upgraded Finishes • 100% Renovated Units 100% UNITS • Large Roommate Floorplans • Quartz Countertops • Full Kitchens with Dishwashers • New Modern Cabintry

UNIT MIX 189 UNITS COMMUNITY AMENITIES • Quartz • • Gated Entrances • Quartz Countertops • Remodeled Clubhouse • New Modern Laundry Facilities • On-Site Leasing Office • Completely Renovated Building Exteriors INTERIOR DETAILS

INTERIOR • 100% Remodeled Interiors HIGHLIGHTS • Large Roommate Floorplans • Ungraded Plank Vinyl Flooring • Quartz Countertops • New HVAC System • Stainless Appliance Package

2BD/2BA UNITS

VVegasegas SauterSauter Multifamily Multifamily Advisors Advisors EXTERIOR DETAILS

EXTERIOR • Renovated Exterior HIGHLIGHTS • Gated Entrances • Two Pools • New Clubhouse • New Fitness Center • New Landscape

VVegasegas SauterSauter Multifamily Multifamily Advisors Advisors FLOOR PLANS

Model Unit - Duel Master Suite 2BD/2BA

CLICK HERE FOR VIRTUAL TOUR

Vegas Sauter Multifamily Advisors Common Area - Clubhouse, Main Office & Laundry Room

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Vegas Sauter Multifamily Advisors BUILDING & SITE DESCRIPTION

ITEM DESCRIPTION

Property Address 939 & 936 E. Flamingo Rd, Las Vegas, NV 89119

Parcel Numbers 162-22-501-002 & 003

Year Completed/Renovated 1973 / 2018

# of Buildings 2

# of Apartment Homes 189

Net Rentable Square Footage 190,890

Total Land Area 4.89 Acres

Building Style 3 Story Garden-Style

# of Floors Three

Exterior Materials Stucco

Windows Aluminum

Framing Wood

Roof Construction Built-up Flat

Roof Age N/A

Foundation Concrete

Two Entrance on Flamingo Rd. Location & Number of Entrances Two Entrances on Clayon St.

Vegas Sauter Multifamily Advisors KITCHEN SPECIFICATIONS MECHANICAL | ELECTRICAL PLUMBING

ITEM DESCRIPTION ITEM DESCRIPTION

Range Electric Heating Individual - Electric

Dishwasher Yes Air Conditioning Individual - Electric

Cabinet Materials Wood Finish Laminate Water Heater Individual - Electric

Countertop Materials Quartz Electrical Copper

Flooring Materials Vinyl/Carpet Plumbing Supply Copper

Disposal Yes Plumbing Outlet PVC

Refrigerator Yes Water Meter Master

Washer/Dryer No Fire Extinguishers Exterior - Wall Mounted

Vegas Sauter Multifamily Advisors MECHANICAL | ELECTRICAL PLUMBING UTILITIES

UTILITIES/SERVICE PROVIDER PROPERTY PAYS RESIDENTS REIMBURSE PROPERTY RESIDENTS PAY DIRECTLY COMMENTS

Electricity NV Energy X

Gas Southwest Gas Not Available

Water/Sewer Las Vegas Valley Water District X X

Cable DirecTV X

Internet Cox X Property Wide WIFI

Telephone Century Link X

Trash Republic Services X X

Vegas Sauter Multifamily Advisors PARKING

ITEM NUMBER

Open Spaces 230

Carport N/A

Total Spaces 230

Overall Ratio Per Unit 1.21

Vegas Sauter Multifamily Advisors the 17LOCATION the point on flamingo QUICK FACTS

1 MILE RADIUS - 2019 ESTIMATE NEIGHBORHOOD SHOPPING NEIGHBORHOOD QUICK FACTS

POPULATION NUMBER OF HOUSEHOLDS 33,176 15,166

NEIGHBORHOOD CONVENIENCES AVERAGE MEDIAN AGE 17 HOUSEHOLD SIZE 35.2 2.08

RENTER OCCUPIED TOTAL BUSINESSES 69.6% 1,785

PRIMARY EDUCATION

TOTAL AVERAGE EMPLOYEES HOUSEHOLD INCOME 28,557 $39,923 LOCATION HIGHLIGHTS

Points of Interest 1. McCarran Airport - 0.5 miles 2. UNLV - 1 mile 3. Union Village - 1 mile 4. Las Vegas Strip - 2 miles 5. Downtown Las Vegas - 4 miles 5 6. Thomas & Mack Center - 1.5 miles 7. T-Mobile Arena - 2 miles 8. Raiders Stadium - 3 miles 9. Sunset Park - 2.5 miles 10. - 2 miles 4 10

2 6 7

1

3 4 9 8 Vegas Sauter Multifamily Advisors AERIAL MAP

LAS VEGAS NATIONAL BOULDER HWY GOLF COURSE

THE POINT ON FLAMINGO

E FLAMINGO AVE PARADISE WILLIAM H. ORR ELEMENTARY SCHOOL MIDDLE SCHOOL

PARADISE RECREATION CENTER E TROPICANA AVE

515 LAS VEGAS STRIP

SOUTHWEST CAREER TECHNICAL ACADEMY 15

S LAS VEGAS BLVD S LAS DEL SOL ACADEMY OF THE PERFORMING ARTS

E SUNSET RD SUNSET 215 PARK location HIGHLIGHTS

MCCARRAN MARKET PLACE MARYLAND CROSSING 5825 S Eastern Ave 1080 E Flamingo Rd McCarran Marketplace is a 600,000 square foot retail center located at the Maryland Crossing is a popular 150,000 sq.ft. retail center anchored by southwest corner of Eastern Avenue and Russell Road next to McCarran a high-traffic Target store, Maryland Crossing supports a variety of stores Airport Center in Las Vegas, Nevada.Co-anchored by a 217,000 square foot including Walgreen's, Five Guys Burgers, Raisin Canes, and GNC Nutrition. Wal-Mart Supercenter and Lowe’s Home Improvement Center. Other tenants include PetSmart, Office Depot, Ross, Starbucks, Bank of America, Jamba Juice, Del Taco, Carl’s Jr., Port of Subs, among other national, regional and local retail businesses. Surrounded by residential and office users the Center is positioned to service ±150,000 residents.

MISSION SHOPPING CENTER 300 E Flamingo Rd Located at the corner of two of Las Vegas' busiest thoroughfares, 250,000 sq. ft. Mission Center was the first retail center in its neighborhood and set the standard for architecture of such centers in the valley. Long-time tenants include Albertson's, SavOn Drug, Starbucks, Cafe Michelle and Bank of America. BEST ON THE BOULEVARD SHOPPING CENTER 3820 S. Maryland Parkway A 200,000 sq. ft. power center located on high visibility Maryland Parkway, Best on the Boulevard offers many of America's most popular retail stores- Best Buy, Barnes & Noble, Office Deopt and Seafood City in addition to many restaurants and stores well known in the Las Vegas area. location HIGHLIGHTS

BOULEVARD MALL HUGHES CENTER

The Boulevard Mall is located at 3528 S Maryland Pkwy, The mall, located Hughes Center, the premier 68-acre master planned office campus in Las Vegas, on 75 acres (30 ha), is a single-story super-regional mall with 1,180,000 sq NV, includes 1.4 million square feet of Class A office space, hotels, condos, ft of leaseable retail space. The mall has 140 stores; restaurants, and unique apartments and several restaurants entertainment venues.

THOMAS AND MACK CENTER MCCARRAN INTERNATIONAL AIRPORT

The Thomas & Mack Center, and Cox Pavilion, offer the Las Vegas community McCarran International Airport is the central airport serving the Las Vegas Area. It the best in world-class entertainment. For nearly 40 years, the three facilities is part of the Clark County Airport System, which owns and operates six airports. have played host to an endless amount of exciting and diverse events, McCarran consists of 96 aircraft gates at two separate terminal buildings. There including: National Finals Rodeo, World Championship boxing, Monster Jam are more than 50 retail shops and nearly 30 restaurants, lounges, and snack bars World Finals, Monster Energy Cup, UNLV Athletics, NBA Summer League, music at the airport. Flight status and contact information for individual air carriers can festivals, and conventions. Day after day, event after spectacular event, the be found on the McCarran Airport’s website. The new ultra-modern T3 terminal set of venues continues to set attendance and revenue records confirming its handles all international flights and various domestic flights. status as a shining star in the entertainment capital of the world.

PARADISEBOULEVARD MARKETPLACE MALL MCCARAN INTERNATIONAL AIRPORT location HIGHLIGHTS

UNIVERSITY OF NEVADA, LAS VEGAS: • William H. Orr Middle School: • 4505 S Maryland Pkwy, Las Vegas, NV 89154 • 1562 E Katie Ave, Las Vegas, NV 89119 • 30,457 students • 906 Students • 3,900 employees • 0.5 Miles • UNLV is a public research univeristy. The 332-acre university • Del Sol High School: uncludes the Shadow Lane Campus, just east of the University • 3100 East Patrick Lane, Las Vegas, NV, 89120 Medical Center of , which houses both School of Medicine and School of Dental Medicine– the only • Public district, 9-12|2,134 students dental school in Nevada. UNLV's Las School, the William S. • Distance: 1.69 miles Boyd School of Law, is also the only law school in the state. • Las Vegas Academy Of Int'l Studies, Performing And Visual Art: EDUCATION • 315 South 7th Street, Las Vegas, NV, 89101 • Public district, 9-12|1,710 students • Paradise Elementary School: • 900 Cottage Grove Ave, Las Vegas, NV 89119 • Southeast Career Technical Academy: • 570 Students • 5710 South Mountain Vista Street, Las Vegas, NV, 89120 • .25 miles • Public district, 9-12|1,738 students

UNIVERSITY OF NEVADA, LAS VEGAS SOUTHEAST CAREER TECHNICAL ACADEMY financial 24ANALYSIS UNIT MIX 24

TOTAL AVG RECENT AVG RECENT MARKET MARKET RENT UNIT TYPE SQFT UNITS LEASE RATE LEASE RATE PER SF RENT PER SF

2x2 189 1,010 $1,243 $1.23 $1,335 $1.32 FINANCIAL ANALYSIS

Operating Income T-90 Lease Pro Forma Per Unit % Pro Forma Per Unit %

Market Rent $2,819,124 $14,916 100% $3,027,780 $16,020 100% Vacancy Loss $(422,869) $(2,237) 15% $(151,389) $(801) 5% Concessions 0 0 0 $(30,278) $(160) 1% Bad Debt/Other -$56,382 -$298 -2% -$(30,278) -$(160) -1%

Model/Admin Units 0 0 0 $(15,139) $(80) 0.5%

Net Rental Income $2,452,638 $12,977 0 $2,800,697 $14,819 0

RUBS $77,112 $408 3% $77,112 $408 3% Other Income $86,482 $458 4% $140,035 $741 5%

Effective Gross Income (EGI) $2,616,232 $13,842 0 $3,017,843 $15,967 0

Operating Expenses Forcasted Per Unit Forcasted Per Unit

Payroll $226,800 $1,200 9% $226,800 $1,200 8%

Administration $47,250 $250 2% $47,250 $250 2%

Management $65,406 $346 2.5% $75,446 $399 2.5%

Repairs & Maintenance $75,600 $400 3% $75,600 $400 3%

Utilities $216,530 $1,146 8% $223,026 $900 7%

Advertising $23,625 $125 1% $23,625 $125 1%

Insurance $34,965 $185 1% $34,965 $185 1%

Landscape $28,350 $150 1% $28,350 $150 1%

Property Tax (Actual) $56,383 $298 2% $60,171 $318 2%

Turnover $47,250 $250 2% $47,250 $250 2%

Security $28,350 $150 1% $28,350 $150 1%

Total Expenses $850,509 $4,500 33% $870,833 $4,608 29%

Net Operating Income $1,765,723 $9,342 $2,147,010 $11,360

Vegas Sauter Multifamily Advisors NOTES TO FINANCIAL UNDERWRITING

Assumptions for the proforma are based on the Property’s characteristics, as well as market-driven revenue and expense trends.

REVENUE

• Gross Potential Income is generated using the current Forecasted • Market Lease rates as of July 2019 (Proforma). • Economic Vacancy is approximately 45% due to post renovation lease up. Pro Forma is 8%. • Concession and Allowances are based upon forecasted leasing. • Misc. income is estimated at $1,149 per unit per year.

FORECASTED EXPENSES

• Payroll is forecasted at the equivalent of $1,200 per unit per year reflecting market expense for staffing requirements of a manger, leasing agents, maintenance supervisor, maintenance techs and porters. • Administration is forecasted at $250 per unit per year reflecting market averages for similar properties. • Management fees are forecasted 3% of Gross Operating Income. • Repairs & Maintenance expenses are forecasted at $600 per unit per year, consistent with market averages for similar age and construction quality. • Utilities are forecasted by using information gathered from comparable properties in the surrounding area. • Advertising expenses are forecasted to be $125 per unit per year. • Property Insurance is forecasted to be $185 per unit per year. • Annual landscape expenses are forecasted to be $150 per unit per year. • Property Tax are calculated on the current fiscal years maximum amount. • Turnover expenses are forecasted to be $250 per unit per year consistent with market averages for properties similar in age on overall condition.

Vegas Sauter Multifamily Advisors VVegasegas SauterSauter Multifamily Multifamily Advisors Advisors sale & rent 29COMPARABLES SALE COMPARABLES

THE POINT VILLAS AT CROSSING AT S 1 2 SUNSET HILLS 3 HELIX 4 LAUREL PARK 5 ON FLAMINGO GREENVALLEY GREENVALLEY

ASSET

PROPERTY ADDRESS 939 & 936 E. Flamingo Rd 2362 N Green Valley Pkwy 2825 Bluegrass Ln 1700 Alta Dr 5272 Tamarus St 2312 N Green Valley Pky

CITY Las Vegas, NV Henderson, NV Henderson, NV Las Vegas, NV Las Vegas, NV Henderson, NV

PHYSICAL

TOTAL UNITS 189 609 120 316 240 384

AVG UNIT SIZE 1,010 773 960 831 1,200 868

NET RENTALBE AREA 190,890 475,686 124,080 261,172 288,000 330,126

YEAR BUILT / RENOVATED 1973 / 2018 1984/2016 1988/2017 1989/2015 1982 1986

OCCUPANCY 92% 94% 98% 93% 95% 84%

MANAGEMENT COMPANY Owner Maxx Properties Stout Bridge ConAM Pinnacle

ECONOMIC SUMMARY

DATE SOLD 2019 May 19 Jan 19 Sep 18 2019 Sep 18

SALES PRICE Market $97,250,000 $17,800,000 $48,750,000 Under Contract $59,750,000

PRICE PER UNIT Market $159,688 $148,333 $154,272 Under Contract $155,598

PRICE PER SQURE FOOT Market $204 $143 $187 Under Contract $181

Vegas Sauter Multifamily Advisors SALE COMPARABLES MAP

3 S THE POINT ON FLAMINGO

1 VILLAS AT GREEN VALLEY

4 2 SUNSET HILLS 3 HELIX

S 4 LAUREL PARK 4 5 CROSSING AT GREEN VALLEY 1 5

2 RENT COMPARABLES

THE POINT VEGAS TOWERS S 1 2 PRIME 4200 PARADISE LAUREL PARK ON FLAMINGO APARTMENTS 3 4

THE POINT ON FLAMINGO

VILLAS AT GREEN VALLEY ASSET

SUNSET HILLS PROPERTY ADDRESS 939 & 936 E. Flamingo Rd 1061 E Flamingo Rd 3875 Cambridge St 4200 Paradise Rd 5272 Tamarus St CITY Las Vegas, NV Las Vegas, NV Las Vegas, NV Las Vegas, NV Las Vegas, NV HELIX PHYSICAL

LAUREL PARK TOTAL UNITS 189 455 210 342 240

CROSSING AT GREEN VALLEY AVG UNIT SIZE 1,010 904 937 812 1,200 YEAR BUILT/RENOVATED 1973/2018 1974/2015 1974/2016 1980/2016 1982

OCCUPANCY 85% – Proforma 98% 92% 97.9% 95%

ECONOMIC SUMMARY

# OF UNITS 189 146 73 58 240

% OF MIX 100% 32.1% 34.8% 17% 100%

AVERAGE SIZE 1,010 1,175 1,128 978 1,200

AVG. ASKING RENT $1,250 $1,471 $1,287 $1,290 $1,200 2 BEDROOM PSF $1.23 $1.25 $1.21 $1.32 $0.83

Vegas Sauter Multifamily Advisors RENT COMPARABLES MAP

S THE POINT ON FLAMINGO

1 VEGAS TOWERS APARTMENTS

2 PRIME

3 4200 PARADISE

4 LAUREL PARK

2 1 3

S 4 two bedroom MARKET RENT

$1,471 $1,400

$1,350 $1,300

$1,287 $1,290

$1,200 $1,200

$1,100 AVERAGE RENT AVERAGE

$1,000

$900 The Point on Vegas Towers Prime 4200 Paradise Laurel Park Flamingo Apartments

Vegas Sauter Multifamily Advisors comparison OCCUPANCY

100%

98% 97.9% 95% 92% 85% – Proforma

75%

50% OCCUPANCY (%) OCCUPANCY

25%

0% The Point Vegas Towers Prime 4200 Paradise Laurel Park On Flamingo Apartments

Vegas Sauter Multifamily Advisors las vegas 36DEMOGRAPHICS LOCAL DEMOGRAPHICS

With an increasing population of over two million residents, Las Vegas features a combined dynamic of steady household incomes and high education levels. Las Vegas is expanding rapidly, and population is expected to grow 2% by 2020. Along with the population, home sales and pricing, as well as employment and income, are continuing to rise. A benefit for businesses moving to the area is Las Vegas’s educated and fast growing workforce. About 54% of the city’s employed population is white collar and the overall unemployment rate for Las Vegas MSA is 6.4%.

Submarket Las Vegas MSA

Median Household Income $51,422 $55,011

Average Household Income $71,714 $73,784

Average Home Value $190.600 $293,320

Renter Occupied Housing Units 47% 32%

VVegasegas SauterSauter Multifamily Multifamily Advisors Advisors LAS VEGAS MSA DEMOGRAPHICS

MEDIAN TOTAL AVERAGE HOME POPULATION TOTAL BUSINESSES MEDIAN AGE HOUSEHOLD EMPLOYEES VALUE 2,227,053 55,856 1,026,900 37 INCOME $292,542 $54.882

VVegasegas SauterSauter Multifamily Multifamily Advisors Advisors las vegas PROJECTS

GOOGLE DATA CENTER MARRIOTT, THE DREW • Henderson is slated to be home to a new Google data center • 4000+ Mega Hotel Resort TOTAL MEDIAN AVERAGE HOME in December 2020. • Marriott, the American multinational hospitality company, is now POPULATION TOTAL BUSINESSES MEDIAN AGE HOUSEHOLD EMPLOYEES VALUE INCOME • The Governor’s Office of Economic Development approved opening a new resort and casino in Las Vegas, set for 2020. 2,227,053 55,856 1,026,900 $292,542 37 $25.2 million in tax abatements Thursday for Design LLC, a • Known as The Drew Las Vegas, the unfinished resort by the former $54.882 wholly-owned subsidiary of Google. The company plans to name Fontainebleau, started with constructions in 2007, will now be build the data center on 64 acres of land on Warm Springs turned into a complex combined like hotel and casino and may Road west of Boulder Highway. The subsidiary plans to build have a walkway to the adjacent luxury Turnberry Place high rises. and own the facility, while Google would handle operations • The mega hotel will house 4,000 guest rooms, as well as 500,000 sq and hiring. feet of a space for events, convention center, and meetings. Currently, • Google projects that it would bring in more than $94.3 million Marriott manages about 20 hotels in the Las Vegas area under their in tax revenue to Nevada over the next 20 years, and hire 50 brands, however, as Tony Capuano– the global chief development employees within the next five years at an average salary of officer for Marriott said: “The Drew Las Vegas will become a landmark $65,000. The company expects to invest at least $600 million property for Marriott International.” over the next 20 years.

RAIDERS STADIUM RENDERING

NFL RAIDERS STADIUM

• $1.8 Billion • Las Vegas will proudly welcome the Raiders in the National Football League (NFL) Stadium which is under construction now and expected to open in 2020. The future 65,000 seat home of the Oakland Raiders is under steady progress and is expected to be the host of some huge major events which will make Las Vegas the sought after entertainment destination. There is no doubt that the relocation of the Oakland Raiders to Las Vegas and the opening of the new Las Vegas Stadium will be an enormous success for Las Vegas. UNION VILLAGE

• In what’s dubbed the first integrated health care village in the world and largest health care project in the nation at $1.2 billion, Union Village in Henderson is starting to take shape. • Union Village is a 130-acre integrated health village located in Henderson, NV (Las Vegas, MSA). Union Village includes Henderson Hospital, multi-family and generational housing, medical office, gym, restaurants and retail. • Approximately 355,000 square feet have been completed and $300 million in work is done. There are 476,000 square feet under construction worth $64 million and another $277 million that will be under construction by the end of the year.

UNION VILLAGE RENDERING

MADISON SQUARE GARDEN RENDERING

MADISON SQUARE GARDEN LAS VEGAS

• $75 Million • The concert experiences happening in Las Vegas will be soon taken to another level with the development of a futuristic Madison Square Garden music arena expected to open its doors in 2020. Developed in partnership with Las Vegas Sands, the new arena is planned to have 18,000 seats and is expected to become a massive, high-tech, sphere-shaped venue will describe a new form of entertainment and will definitely bring unforgettably, revolutionized experiences for both performers and the audience. LAS VEGAS CONVENTION CENTER EXPANSION

• The Las Vegas Convention and Visitors Authority is underway on a 1.8 million SF expansion of the LVCC. • It will include a World Trade Center building and multi-modal transportation center. • The 1.4 billion project will be completed in 3 phases in 8 years. • It will provide 14,000 construction jobs and 7,800 permanent jobs upon completion. • It is expected to draw 600,000 annual visitors. • Currently Phase 1 is complete, Phase 2 is underway which includes 1.4 million SF of new exhibit and meeting space, to be completed in 2020.

LVCC EXPANSION RENDERING

RESORTS WORLD RENDERING RESORTS WORLD

• Developed by Genting Group, an asian themed resort with a 150,000 SF casino on 87 acres of land. • $4 Billion mega-resort will include 4 towers with 3,000 hotel rooms, 4,000 seat theater, 1M SF convention center, 150,000 SF casino, 15 retail outlets, aquarium, Chinese garden, 30 restaurants and bars. • Will employ 3,000 full time employees. • Expected to open late 2020.

ALL NET RESORT AND ARENA

• Former UNLV and NBA basketball player, Jackie Robinson resumed construction on $2.7 billion arena, hotel, and shopping project on the former 27 AC Wet 'n' Wild site. • 23,000 seat, retractable roof arena is costing $670 million • Total project size is 862,000 SF and will also include a 63 story, 2,000 room hotel, 240,000 SF conference center, 300,000 SF retail and entertainment space, 24 lane bowling alley, 2,500 seat showroom, wedding chapel, grocery store, 16 screen movie theater, and offices. • All expected to be complete by 2020. VEGAS TRADE VILLAGE

• $100 Million live-work space in the industrial area of Las Vegas • Phase 1 includes a 4,800 SF bank and convenience store with a car wash and fast food eatery and is scheduled to complete in 2018. • Remaining phases could take up to 7 years to complete and includes an international trade center over 35 acres with a 20,000 SF convention center, a 264 unit apartment building, 4 restaurants, and a 120 room hotel.

VEGAS TRADE VILLAGE

WYNN PARADISE PARK RENDERING

THE WYNN PARADISE PARK

• Wynn Resorts is going to build a new 47 story, 1,500 room hotel resort taking the place of the Wynn Golf Club. • It will be a carnival themed development to include convention space, casino, and restaurants. • Will be on 38 acres man-made lagoon that will host water skiing, paddle

boarding, and parasailing. FULFILLMENT • There will be a surrounding boardwalk 1 mile long with shops and retailers. • It is estimated it will cost $1.5 billion to build. • The golf club closed in 2017 and construction on Phase 1 began May 2018, and will take 4 years to complete.

AMAZON

• 800,000 SF fulfillment facility located in a new industrial complex a few miles from the . • The new warehouse is expected to pack and ship small items such as book, toys, and household items. • This will be Amazon's 3rd facility in North Las Vegas and will provide more than 1,000 full time jobs • Expected to open late 2019. the Vegas Sauter Multifamily Advisors DISCLAIMER TERMS & CONDITIONS This package is provided to you by NAI Vegas and is intended solely for your limited use and benefit in determining whether you desire to express further interest in purchasing the property described in the attached documentation (the “Property”). The providing of this package to you and your use thereof is conditioned upon your agreement to the terms set forth below.

This package contains selected information pertaining to the Property. It does not purport to be a representation of the state of affairs of the current owner, nor should it be construed to contain all or part of the information which prospective investors would deem necessary to evaluate the Property for purchase. Any financial projections and information provided are for general reference purposes only, are based on assumptions relating to the general economy, market conditions, competition and other factors beyond the control of the current owner and NAI Vegas. All projections, assumptions and other information provided are made herein are subject to material variation. NAI Vegas has not independently investigated the accuracy of the information within the package, as such information was obtained by the owner and/or public records. Additional information and an opportunity to inspect the Property will be made available to interested and qualified prospective purchasers.

Neither the owner, NAI Vegas, nor any of their respective directors, officers, agents, affiliates or representatives make any representation or warranty, expressed or implied, as to the accuracy or completeness of the information contained within this package or any supplemental information provided after the delivery of this package to you, and no legal commitment or obligation shall arise by reason of your receipt of this package or use of its contents. Please also refer to the disclaimer at the bottom of each page of this package, whichdisclaimer is incorporated herein by reference.

You should understand and be advised that the owner of the Property expressly reserves the right, at their sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions with you or any other party at any time with or without notice which may arise as a result of this package. The owner shall have no legal commitment or obligation to you or any other party reviewing this package, nor shall the owner be required to accept an offer to purchase the Property unless and until written agreement(s) for the purchase of the Property have been fully executed, delivered and approved by the Owner and any conditions to the Owner’s obligation therein have been satisfied or waived.

By receipt of this brochure, you agree that this brochure and its contents are of a confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose this brochure or any of its contents to any other entity without the prior written authorization of owner or NAI Vegas. You also agree that you will not use this brochure or any of its contents in any manner detrimental to the interest of the owner or NAI Vegas.

This package describes certain documents including leases and other materials, which documents are described in summary form only. These summaries do not purport to be complete nor necessarily accurate descriptions of the full agreements referenced. Interested parties are expected and advised to review all such summaries and other documents of whatever nature independently with legal counsel, tax and other professionals of their choice who have the expertise to assist in investigating this information in detail. You are therefore advised not to rely solely on this Memorandum as part of your investigations on this Property. If you have no interest in further pursuing this Property, please return this package to NAI Vegas. Company Overview Office Locations National Reach, Local Expertise.

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