126 UNITS WITH OPTION TO PURCHASE ±2.5 ACRES OF DEVELOPMENT LAND

MULTIFAMILY/EXTENDED STAY OPPORTUNITY 580 Mesa Boulevard, Mesquite NV 89027 Confidentiality & Disclosure

SUN COMMERCIAL REAL ESTATE, INC. (the “Broker”) has been retained to market the property described herein (the “Property”). Broker has been authorized by the Seller of the Property (the “Seller”) to prepare and distribute the enclosed information (the “Material”) for the purpose of soliciting offers to purchase from interested parties. More detailed financial, title and tenant lease information may be made available upon request following the mutual execution of a letter of intent or contract to purchase between the Seller and a prospective purchaser. You are invited to review this opportunity and make an offer to purchase based upon your analysis. If your offer results in the Seller choosing to open negotiations with you, you will be asked to provide financial references. The eventual purchaser will be chosen based upon an assessment of price, terms, ability to close the transaction and such other matters as the Seller deems appropriate.

The Material is intended solely for the purpose of soliciting expressions of interest from qualified investors for the acquisition of the Property. The Material is not to be copied and/or used for any other purpose or made available to any other person without the express written consent of Broker or Seller. The Material does not purport to be all-inclusive or to contain all of the information that a prospective buyer may require. The information contained in the Material has been obtained from the Seller and other sources and has not been verified by the Seller or its affiliates. The pro forma is delivered only as an accommodation and neither the Seller, Broker, nor any of their respective affiliates, agents, representatives, employees, parents, subsidiaries, members, managers, partners, shareholders, directors, or officers, makes any representation or warranty regarding such pro forma. Purchaser must make its own investigation of the Property and any existing or available financing, and must independently confirm the accuracy of the projections contained in the pro forma.

Seller reserves the right, for any reason, to withdraw the Property from the market. Seller has no obligation, express or implied, to accept any offer. Further, Seller has no obligation to sell the Property unless and until the Seller executes and delivers a signed agreement of purchase and sale on terms acceptable to the Seller, in its sole discretion. By submitting an offer, a purchaser will be deemed to have acknowledged the foregoing and agreed to release Seller and Broker from any liability with respect thereto.

PROPERTY WALK-THROUGHS ARE TO BE CONDUCTED BY APPOINTMENT ONLY. ACCESS IS LIMITED AND SECURED. CONTACT BROKERS FOR ADDITIONAL INFORMATION.

Cathy Jones, CPA, SIOR, CCIM Michael Hsu Paul Miachika CEO Senior Vice President Executive Vice President (702) 968-7320 (702) 968-7321 (602) 814-0661 [email protected] [email protected] [email protected] NV Lic # B.0056010.CORP NV Lic # S.0051609.LLC NV Lic # S.0184612

OFFERING MEMORANDUM: MULTIFAMILY/EXTENDED STAY OPPORTUNITY 2 Table of Contents

Contact Team: Property Overview Section 1

Property Summary & Investment Highlights Property Overview Financial Overview & Unit Matrix Property Photos Assessor Parcel Map Cathy Jones, CPA, SIOR, CCIM CEO Surrounding Aerial (702) 968-7320 Mesquite Aerial [email protected] NV Lic # B.0056010.CORP

Location Overview Section 2

Area Demographics Mesquite Map Mesquite Overview Michael Hsu State of Incentives Senior Vice President 702-968-7321 [email protected] NV Lic # S.0051609.LLC

Paul Miachika Executive Vice President (602) 814-0661 [email protected] NV Lic # S.0184612

OFFERING MEMORANDUM: MULTIFAMILY/EXTENDED STAY OPPORTUNITY 3 Property Summary & Investment Highlights

PROPERTY SUMMARY

The Property is situated less than 1 mile west of the Nevada/ Arizona state border, approximately 40 miles southwest of St. George, Utah, and approximately 80 miles northeast of , Nevada.

The Property sits in proximity to Eureka Casino Resort, a 60 acre resort with over 200 rooms. Eureka serves as Nevada’s first 100% employee owned casino. The Property also sits in proximity to Virgin River Hotel and Casino with over 700 rooms and Golf Club, Mesquite’s only 36-hole golf facility with over 350 members and known for being one of Arnold Palmer’s Top 10 designs. Located across INVESTMENT HIGHLIGHTS the street from the subject property is Virgin Valley High • High Demand - This 126 unit multifamily property is 94% occupied School, which was founded in 1911 with over 700 students and a 19 to 1 student to teacher ratio, ranked #25 of the • Stable Income - 50% of tenants have been in the property over 12 months, Las Vegas MSA high schools based on performance and almost 30% over 2 years and close to 10% a decade or more preparation for college from US News. • Strong Tourism & Gaming Community - Mesquite leads the county in Mesquite takes pride in an ever improving community, gaming revenue increases according to the Las Vegas Convention and expanding and diversifying the local economic base, Visitors Authority (4.6% increase for 2019 over 2018) promoting a clean, safe, and beautiful city, while providing excellent service and opportunity to its residents • Development Potential - Excess land - There is an option to purchase the and visitors. The construction of a new high school, middle adjacent parcels up to ±2.5 acres zoned Commercial-General (CR-2) school, and two elementary schools reflect the increase of young families in the population. • ASKING PRICE: $7,175,000

• CAP RATE: 6.05%

OFFERING MEMORANDUM: MULTIFAMILY/EXTENDED STAY OPPORTUNITY 4 Property Overview

MULTIFAMILY/EXTENDED STAY OFFERING

Ownership Interest: Fee Simple Address: 580 Mesa Boulevard, Mesquite, NV 89027 APN: 001-10-201-009 Site Size: ±3.74 Acres Zoning: CR-2, Commercial - General Number of Units: 126; 88 studio units, 38 one bed/bath units, and one office Building Area: ±45,660 Square Feet Building Description: 5 - 2 Story Buildings Year Built: 1996 Parking Spaces: ±158 spaces

CONSTRUCTION AND UTILITIES LAND OFFERING

Construction: Stucco/Wood Frame Northern Parcel HVAC: PTAC Units provide heating & cooling Address: 604 El Dorado Road, Mesquite, NV 89027 Power: The property is not individually metered. Assessor Parcel Number: 001-10-201-007 Owner pays for Power. Site Size: ±1.25 Acres There are 3 meters for the entire property: 1. A Building Price: Unpriced 2. B & E Buildings Southern Parcel 3. C & D Buildings Assessor Parcel Number: 001-10-201-008 Hot Water: Central propane tanks (no natural gas) Site Size: ±1.25 Acres Price: Unpriced

OFFERING MEMORANDUM: MULTIFAMILY/EXTENDED STAY OPPORTUNITY 5 Financial Overview & Unit Matrix

Asking Price: $7,175,000

Price Per Unit: $56,944

Annual Revenue: $1,091,112 (T-12 as of 2-29-2020)

In-Place NOI: $434,368 (T-12 as of 2-29-2020)

In-Place Cap Rate: 6.05%

Physical Occupancy: 93.6%

Number of Units: 126 units

Year Built: 1996

Unit Matrix Total Units Type Average SF Weekly Rent Monthly Rent 88 Studio 311 $165.25 $716.10

37 1 BD / 1 BA 415 $177.80 $770.47

1 Office 415 N/A N/A

Note: Landlord pays cable and all utilities other than wifi.

OFFERING MEMORANDUM: MULTIFAMILY/EXTENDED STAY OPPORTUNITY 6 Property Photos

OFFERING MEMORANDUM: MULTIFAMILY/EXTENDED STAY OPPORTUNITY 7 Property Photos

OFFERING MEMORANDUM: MULTIFAMILY/EXTENDED STAY OPPORTUNITY 8 Property Photos

OFFERING MEMORANDUM: MULTIFAMILY/EXTENDED STAY OPPORTUNITY 9 Assessor Parcel Map

This map is for assessment use only and does NOT represent a survey. ASSESSOR'S PARCELS - CLARK COUNTY, NV. MAP SEC. S 2 NW 4 BOOK 001-10-2 This map is for assessment use only and does NOT represent a survey. ASSESSOR'S PARCELS - CLARK COUNTY, NV. T13S R71E 10

Briana Johnson - Assessor MAP SEC. S 2 NW 4 BOOK 001-10-2 No liability is assumed for the accuracy of the data deliniated herein. T13S R71E 10 8 4 8 4 PARCELBriana BOUNDARY Johnson - Assessor ROAD PARCEL NUMBER 6 5 4 3 2 1 NoInformation liability is onassumed roads andfor the other accuracy non-assessed of the data parcels deliniated may herein.be obtained CONDOMINIUM UNIT 001 8 4 8 4 ROAD PARCEL NUMBER 6 5 4 3 2 1 5 1 5 1 Informationfrom the Road on roads Document and other Listing non-assessed in the Assessor's parcels Office. may be obtained PARCELSUB BOUNDARY BOUNDARY CONDOMINIUMAIR SPACE UNIT PCL 001 001 PARCEL NUMER 7 8 9 10 11 12 SUB PM/LDBOUNDARY BOUNDARY PARCELACREAGE NUMER 121110987 5 1 5 1 from the Road Document Listing in the Assessor's Office. AIR SPACERIGHT PCL OF WAY PCL001 1.00 18 17 16 15 14 13 PM/LD BOUNDARY 6 2 6 2 ROAD EASEMENT 1.00 ACREAGE 18 17 16 15 1314 RIGHT OF WAY PCL PARCEL SUB/SEQ NUMBER 19 20 21 22 23 24 6 2 This map is compiled from official records, including surveys and deeds, ROADMATCH EASEMENT / LEADER LINE SUB-SURFACE PCL 202 002 001 2 6 This map is compiled from official records, including surveys and deeds, PARCEL SUB/SEQ NUMBER 19 30 2923222120 2824 27 26 25 but only contains the information required for assessment. See the q MATCH / LEADER LINE SUB-SURFACE PCL 202PB 24-45 PLAT RECORDING NUMBER002 001 7 3 7 3 HISTORIC LOT LINE 30 29 28 27 26 25 but only contains the information required for assessment. See the 31 32 33 34 35 36 7 3 7 3

NOTES recorded documents for more detailed legal information. q PB 24-45 PLAT RECORDING NUMBER HISTORICHISTORIC LOT LINESUB BOUNDARY BLOCK NUMBER 035 036 31 3635343332 8 4 8 4 NOTES recorded documentsUSE THIS SCALE(FEET) for more WHEN detailed MAP REDUCEDlegal information. FROM 11X17 ORIGINAL HISTORIC SUB BOUNDARY 5 035 036 HISTORIC PM/LD BOUNDARY 5 BLOCK5 LOT NUMBER NUMBER 8 4 8 4 USE THIS SCALE(FEET) WHEN MAP REDUCED FROM 11X17 ORIGINAL HISTORIC PM/LD BOUNDARY

MAP LEGEND 5 1 5 1 0 100 200 400 600 800 SECTION LINE 5 LOTGL5 NUMBERGOV. LOT NUMBER Scale: 1" = 200' Rev: 1/8/2019 BUENA

MAP LEGEND 5 51 1 0 100 200 400 600 800 SECTION LINE GL5 GOV. LOT NUMBER Scale: 1" = 200' Rev: 1/8/2019 BUENA VISTA CIR 55.75 74.04 PAL 98.2 4 60.01 19.97 74.04 39.31 11 SCENIC A 55.75 PALOS VERDES DR 2 35.78 98.21 . D 54 VISTA CIR 5 PT 001-10 LAS PALMAS OS VERDES70 DR 010 1 4 60.01 19.97 39.31 2 109.9311 SCENIC TOWNHOMESA 002 PB 53-09 2 VIEW 001 003 . 4 005 35.78 1 D 48.83 70 5 PT 001-10 LAS PALMAS 126. 70 010 19 = 109.93 TOWNHOMES B PB 53-09 2 002 97-002001 003 15 112.43 L 4 005 VIEW C TOWNHOMES -110-001 TOWNHOMES 48.83002 5 70 1 PHASE 3 126.54 3 13 19 PALOMINO 001= PM 60-65 B 97-002 15 75 112.43 C TOWNHOMES004 003 PB 66-33 70 L PHASE 3 -110-001 TOWNHOMES 002 3 5 CIR005 PHASE 2 001 149.06 47.20 13 PALOMINO 001 PM 60-65 004 B 75 003 C PB 66-33 83.40 70 005 020 B CIR005 16 PHASE 2PB001 87-99

149.06 011 47.20 020 B 003 A 83.40 00570 001 C PB 58-25 B 004 011 116.27 16 020 PB 87-99 002 0047 001 1 1 115 70 020 0.94 003 A A 70 14 001 116.27 0 PB 58-25 004 . 002 0047 D 001 1 51 1 12 PT 2 115 003 70 14 20 4 0.94 A B 2 54.44 4 14 4 60 .0 2 271.04 001 D PT 2 003 105.61 70 20 110.39 51 4 1 01212 B 012 009 54.44 4 4 14 60 2 = 271.04 2 3105.61 70 006 110.39 1 L 012 001 012 009 = F C E 00613 004 L 3 001 005 70 003 F 011 218 002 SCENICE VIEW 13 75 00470 C 013 70 003 021 LAS PALMAS001 CIR 100 3 218 002 SCENIC VIEW 97-007 005 75 21370 011 7 PT2 100 02174.52 PM 60-65 E D TOWNHOMES013 97-007 017 LAS PALMAS CIR 1004 SANTA FE VISTAS 213 004 15 3 SEE DETAIL 7 F PT2 001 SANTA FE VISTAS 100 74.52 PM 60-65 E 010 D TOWNHOMES F A58.21017 4 5 3 004 75 15 16 21 SEE DETAIL 003 PHASE 3 001 47.47 002 PALOS 6 010 13 A58.21 98.86 5 SUB PHASE 3 0073 75 16 21 0 D 003 PHASE005 3 47.47 . 002 PALOS VERDES DR SANTA FE VISTAS 6 13 006 034 2098.86 SUB PHASE 3 00770 0 5 002 D "D" A 041 96.42 5 VERDES DR SANTA FE VISTAS . 8 009 005 006 034 20 70 004 70 5 002 "D" A 004 E 041 96.42 016 5 12 002 005 8 009 A 614 039 035 016 70 004 SUB PHASE60 1 004 E 035 SANTA118.94 FE DR 39.27 12 002 005 0.94 C 004A 614 037 60 THE CROSSINGS 039 042 003 SUB PHASE 1 267.49 B 007 040 SANTA FE DR 39.27 48 48 70 0.94 C78.08 008 97-010 THE CROSSINGS 037 042 036 118.94 001 19 003 6 100 PB 55-83 61.35 23.66 2 267.49 B 14005004 97-010 007 040 89 036 037 001 48 10048 6 70 100 2 60 61.35 23.66 2 .0 78.08 008 14 D B 19 60 267.49 038 86878889 037 1006 PB60 55-83 .0 7 0 B 005 D B 001 038 88 015 0082 51 60 0 267.49 001 858687 038 45.10 6 PB 58-26008 7 B C 003 008 TOWNHOMES 9091 015 47.07 70 51 007 SCENIC 82 SANTA FE45.10 004 PB 58-26 3 C 84 6 003 85 038 100 47 003 006 008 TOWNHOMES82 9091 92 47.07 70 .9 007 SCENIC 83 SANTA0 FE 004 3 002 84 039 6 100 47 48003 100 001 .9 5 2 2 A 006 CA C 5 C 83 92 0 . 18 99.98 VIEW CA 002 039 3 149.13 48 10011 001 75 5 2 2 A D C 5 C 93 217 . 18 99.98 022 VIEW 81 93 217 3 2 1149.13 7 11 75 17.22 022 D 002 009 PHASE 1 81 003 PEARTREE 94 2 1 0140060067 7 85 17.22 TOWNHOMES 002 009PB 92-51 6 PEARTREE 014 PM 108-25 99.04 6 003 7 85 176.6 TOWNHOMES PB 92-51 PHASE 1 94 040 SPRINGS PM 108-25 239.44 B D SPRINGS 009 1 176.6 99.04 040 51 005 73.55 0.63 B 80 LN 7 74.81 1 239.44 D 100 51 0058 73.55 009 129.95 0.63 PHASE 2 80 LN 7 74.81 2 17 70 60 PB 76-68 97-00195 100 8 129.95110.51 PHASE 2 013 001 70 60 021 97-001 2 002 17 214 013 010 PB 76-68 004 95 041 . 002 110.51 020021 155 001 3 002 214 010 004 CROSSINGS 041 . 2 LAS PALMAS 002 020 134.67 155 3 036 CROSSINGS 2 6 LAS013 PALMAS 019 134.67 A E 79 036 96 6 168.08 013 10 85 A E 79 96 042 168.08 47 006 100 00510 85 019 47 006 100 00560 0.38 220 005 70 042 16 60 0.270.38 220 005 70 98.56 PB 87-99 16 TOWNHOMES 92.11 8 100.51 0.27 011 035 98.56TOWNHOMES 92.11 51 100.51 91.01 PB 87-99 011 78 035 TOWNHOMES 97 9 8 51 100.50 0.27 91.01 78 TOWNHOMES 97 9 100.50 0.27 CA F 006 SUBDIVISION71.9 CA F 69 SUBDIVISION71.9 4 164.06 52.18 PM 60-41 006 69 012 PB 66-33 83.02 2 3 4 164.06 52.18 PM 60-41 MESQUITE MESA - PHASE 3 034 012 PB 66-33 83.02 271.753 95.08 108.89 42.28 012 012 MESQUITE MESA - PHASE 3 7777 68034 98043043 001 001 1 171.75 95.08 108.89 42.28 F F PHASE 1 007 75 48.85 68 PHASE 1 98 112 15 15 007 75 48.85 97-00297-002 112 003 003 74.75 74.75 47 42.2647 42.26 007007 044 121.47 85 85 014 001 001 033 99044 011 011 121.47 9 331.78 331.78 014 011 011 A A 033 99 F 23.77 9 E 7676 67 002002 F 004 004PB 132-51PB 132-51 23.77 45.16 45.16 E 219 219 67 2 100.01 008 2 58.65 215100.01 008 58.65 215 032032 100100045045 70.02 70.02 14 14 10 10 014 014 018016 018016 022020 024022020 024 1.31 1.31 002 002 7575 3 3 003003 008 008 42.53 42.53 48.84 0148.843 013 010 010B B 009009 6666 4 130.954 130.95 3 3 67.67 67.67 015 015 021019017 023021019017 023 D SCENICD SCENIC 7474 031031 CROSSINGSCROSSINGS 80.03 80.03 009 00911 11 201201 012 012 97-009 97-009 6565 4 4004004 84.01 84.01 13 1316 16 24 24 VIEW 003C VIEW 003C 87.23 3009 009 01087.23 3 120.94 010 21 1 010010 97-00397-003 ST ST 005 120.94 1415 1417181917201819222023212223 1 C C 005 122.23 15 TOWNHOMES 122.23 TOWNHOMES 030 7 73 030 7 12 12 PM PM63-73 63-73 011 12011 12 73 2 005005216216 2 CHAPARRALCHAPARRAL DR DR 0044 0044 64 . 83.51 011011 64 5 . 221221 83.51 010 008 PHASE 1 D PHASE 1 5 4 D 119.03 010 008 029 4 146.92146.92 119.03 11 11 B 001 4 67.02 97-005 B APPLETREE LN 029 001 4 67.02 97-005 72 APPLETREE LN 008 008 13 CA CA 72 5 13 AMD MESA TOWNHOMES PHASE 2 940511:1267 VAC: 5 940511:1267 VAC: (REVISED) 63 006006 1414 85.8 004 004 AMD MESA TOWNHOMES PHASE 2 (REVISED) 012012 63 6 6 85.8 40.95 40.95 009 MESA MESATOWNHOMES TOWNHOMES PHASE PHASE 1 1 028 172.49 313.11 313.11 10009 10 95-002 95-003 005 005 71 028 002002 79.9 172.49 95-002 AT SANTA FE VISTAS95-003 007 PB 87-42 E 71 6262 7 007007 15 79.9 007 1.21 AT SANTA FE VISTAS A A007 PB 87-42 E 7 15 007 8 234.03 1.21 9 AT SANTA AT SANTA FE VISTAS FE VISTAS MESQUITEMESQUITE MESMESAA 013013 003003 8 234.03 008 008 9 52 033 1616 211004 21168014 69015 014024 015025 SEE DETAIL006F 006 52 6161 033 008 7 5 4 4 8 PB 56-93 004 68 69 024 025 31 SEE DETAILF 014 008 006006 35 4. 7 5 007 007 8 PB 56-93036 025 031 31 014 032 8 8 004 MARILYN PKWY 6 35 4. 36SUBJECT25 036 025 005 005 031 PHASEPHASE 2 5151 60 032 009 004 MARILYN PKWY 6 005 006 0067 45045 039045 037039 037 36 25 58 59 67013 70016670137870016 79 78 79 32 032 'C'32 015 60 009 005 2 47.64 7 45 58 59 032 6 006 'C' 015 031 9 17 160 2 47.64 040 038 035 026 6006 50 95-001 59 031 9010 17005005 160 1 005 0056 046 04035 038 263503526 026 SEE003 DETAIL023 023 33033 330335005 50 95-001 59 10 010 18 6 6 1 6210 46 404604639 3840 3739 38 37 006SEE00366012 71 017DETAIL012 026017 34034 5005 016 10 18006 210 006 66 777180 026AZTEC CIR 340344004 016 030 006 004 034 57 60 77 80 AZTEC CIR 4004 49 030 011 19 68.80 0045 34PROPERTY027 57 60 35035 212 5 5 054 27 034 027 72 49017 58 11 011 19 .5 68.80 54 47047054 34 'B' 65011 018 72 350353003212 017 58029 2 .55 4 54 047 042044 27 'B' 011 018 038 3003 11 1 47 65 36 48 029 012 1 2 PM 61-54 L 4 042044 033 028 036 2 038 20 1 = 022 36036 002 48018 57 012 00720 1 PM 61-54 2 L 053 043 041 2833 033 028 002 2002 018 57028 12 007 3 = 003 3 53 48048053 043 041 2833 002010 019 022 PB 80-51 47 028015 12013 006 9. 23 003 53 480484344 4142 007 73 010 027019 1001 PB 80-51 47 56 015 21 008 006 8 5 9 3 64 007 027SCENIC VIEW 1001 56 13 013 21 008 .8 3 002 4344 4142 56 61 64 767381 SCENIC VIEW 019 13 217 1.41 5 389.28 002 052 057059061063 560096174 76 81 2 MESA 049 027 89.28 SPRINGS 52 46 019 22 009 217 1.41 DR 49 052 057059061032063 029 001 63 02000902174028 TOWNHOMES 2 MESA 049 027 SPRINGS 52 058 062 DR TOWNHOMES 46020 55 PB 76-68 22 009 6 001 49 066 32 29 032 029 001 63 020 021 028 026 58.0 001 051 058066062 008 51 020 55 PB 76-68 1 .06 97-003 1 51 50050 056 064 32 29 55 008 75 82 PHASE 1 45 54 026 B 010 158 1 51051 050067056 031064030 62 5597-006 75 82 51 PHASE 1 021 97-003 50 SPRINGS DR MESA 45 54025 B 010 055 06506731 30 031 030 CA 62 PB97-006 63-22 CA PB 72-72

021 SPRINGS DR MESA AMD MESQUITE 44 53 025 011 23 216 055 065 31 30 CA PB 63-22 CA PB 72-72 AMD MESQUITE 44 022 53 011 23 216 PB 79-25 43 022 012 24 CROSSINGS MESA BLVD VAC MESA 012 24 CROSSINGS 2 VAC80 PB 79-25 43 023 25 203.75 MESA BLVD MESA 21795-001 013 TOWNHOMES 2 002 20041012 80 42 023 25 203.75 PM 59-74 024 217046 95-001 01326 TOWNHOMES 60 003 002 20041012 PHASE 1 42 014 PHASE 1 60 PM 59-74 :1905 41 024 046 014 26 003 407.66 PHASE 1"D" E 015 27 PHASE 1 407.66 180 :1905 41 PB 76-68 L=199.01 377.66 "D" 025 E 015 27 180 40 025 28 PB 76-68 L=199.01 377.66 80 See Condo List Page 026 016 28 001 See Condo List Page 3940 017 01629 CROSSINGS 203.15 80 027026 TOWNHOMESCROSSINGS 001 39 PEARTREE LN018 01730 29 MF 1-13 PM203.15 72-78 38 027 PEARTREE LN TOWNHOMESPHASE 2 MF 1-13 38 0183197-00230 PM 72-78 019 PB PHASE 79-97 2 EL DORADO

97-001 271.40 020 01932 3197-002 PB 79-97 RD S 010 201 MESQUITE MESA EL DORADO 97-001 271.40 MESQUITE MESA 022 021 02033 32 RD S 1.57 010 201 PM 57-84 PHASE 1 023 022 02134 33 1.57 024 023 PM 57-84 PHASE 1 35 341 294.74 3702436 35 See Condo List Page 36 1 PM 72-10294.74 1 See Condo List Page F 95-00237C 269.36 PM007 72-10 1 PB 74-64 F 95-002 269.36 "C" C 80 PB 74-64 1.25007 "C" 80 147.19 201 1.25 173.47 147.19 201 011 173.47 013

MESA BLVD 300.07 1.01 011 NEVADA/ARIZONA BOUNDARY NEVADA/ARIZONA 1 2 184.33 20.05 013 MESA BLVD 300.07 1.01

PM 84-24 BOUNDARY NEVADA/ARIZONA

1 184.33 2 270.14 20.05 PM009 84-24 601 270.14 601 PM 84-24 3.74009 148.23 245.42 008 3.74 148.23 PM 62-49 PM 00584-24 1.25 245.42 008 012PM 62-49 2.34005 1.25 2.8 PT1 2.34 PT2 012 PT2 2.8 PT1 128.63 PT2 PT2 2 PM 57-84 4 336.38 PM 84-25 128.63 2 PT 001-10-201-012 PT 001-10-201-013PM 57-84 336.38 4 PM 84-25 70 PT 001-10-201-009 6. 11 PT 001-10-201-012 PT 001-10-201-013 2 PM 89-24 0 9 .7 7. PT 001-10-201-009 6 8 1338 11 1 PM 89-24 92 7. 1338 1 8 TAX DIST 901 TAX DIST 901 OFFERING MEMORANDUM: MULTIFAMILY/EXTENDED STAY OPPORTUNITY 10 Surrounding Aerial

SUBJECT

ARIZONA PROPERTY NEVADA

Pioneer Park Virgin Valley High School

Mesquite Virgin Valley Recreation Elementary Center School

Mesquite Hunter City Hall Sports Park

OFFERING MEMORANDUM: MULTIFAMILY/EXTENDED STAY OPPORTUNITY 11 Mesquite Aerial

ST. GEORGE, UT 40 MILES

SUBJECT PROPERTY

Virgin Valley HighSchool FALCOLN RIDGE PKWY

Virgin Valley Elementary School

E VETERANS MEMORIAL HWY W MESQUITE BLVD

W PIONEER BLVD

W RIVERSIDE RD

LOWER FLAT TOP DR

LAS VEGAS, NV 80 MILES EXIT 118

OFFERING MEMORANDUM: MULTIFAMILY/EXTENDED STAY OPPORTUNITY 12 Area Demographics - 3 Mile radius

9/25/2019 Business Analyst

KEY FACTS INCOME Street name Direction Distance 17,676 SW 0.3 Population I- 15 SE 0.3 2.454.2 I- 15 SW 0.4 $65,442 $50,082 $27,068 $690,540 E Pioneer Blvd SW 0.5 Average 2019 Average 2019 Median 2019 Per Capita 2019 Average Net Household Size Household Income Household Income Income Worth Closest 4 locations

Mall/Shopping Center Name Direction Distance 54.2 200000+ 17,676 150000-199999 Median Age

100000-149999 No nearby locations found for this site

7,212 $42,225 75000-99999

Households Median Disposable Income 50000-74999

EDUCATION 35000-49999 Company/Business Name Direction Distance

25000-34999 SIEGEL SUITES OF MESQUITE SE 0.1

13% ATM SW 0.2 15000-24999 No High 37% DOTTY'S SW 0.2 School 0-14999 Diploma Some College 28% 22% DESERT SKIES RV RESORT NE 0.3 High School Bachelor's/Grad/Prof 0 400 800 1,200 1,600 Graduate Degree HOUSEHOLD INCOME Closest 4 locations

Source: This infographic contains data provided by Esri. The vintage of the data is 2019.

OFFERING MEMORANDUM: MULTIFAMILY/EXTENDED STAY OPPORTUNITY 13

https://bao.arcgis.com/esriBAO/index.html# 2/3 Area Demographics - 5 Mile radius

9/25/2019 Business Analyst

KEY FACTS INCOME Street name Direction Distance 22,227 SW 0.3 Population I- 15 SE 0.3 2.455.7 I- 15 SW 0.4 $67,563 $51,510 $27,923 $773,780 E Pioneer Blvd SW 0.5 Average 2019 Average 2019 Median 2019 Per Capita 2019 Average Net Household Size Household Income Household Income Income Worth Closest 4 locations

Mall/Shopping Center Name Direction Distance 55.7 200000+ 22,227 150000-199999 Median Age

100000-149999 No nearby locations found for this site

9,171 $43,503 75000-99999

Households Median Disposable Income 50000-74999

EDUCATION 35000-49999 Company/Business Name Direction Distance

25000-34999 SIEGEL SUITES OF MESQUITE SE 0.1

13% ATM SW 0.2 15000-24999 No High 37% DOTTY'S SW 0.2 School 0-14999 Diploma Some College 29% 22% DESERT SKIES RV RESORT NE 0.3 High School Bachelor's/Grad/Prof 0 400 800 1,200 1,600 2,000 Graduate Degree HOUSEHOLD INCOME Closest 4 locations

Source: This infographic contains data provided by Esri. The vintage of the data is 2019.

OFFERING MEMORANDUM: MULTIFAMILY/EXTENDED STAY OPPORTUNITY 14

https://bao.arcgis.com/esriBAO/index.html# 3/3 Mesquite Overview

ABOUT MESQUITE http://www.mesquitenv.gov/

Mesquite is a city in Clark County, Nevada, United States, adjacent to the Arizona state line, 80 miles Northeast of Las Vegas on Interstate 15. As of 2018, Mesquite had a population of 24,125. The city is located in the Virgin River valley adjacent to the Virgin Mountains in the Northeastern part of the Mojave Desert. It is home to a growing retirement community, as well as several casino resorts and golf courses.

In 2017 Mesquite had over 1.3 million visitors, up 1.7% from 2016. The highly anticipated Eagles Landing Travel Plaza opened in the Fall of 2018 at the new I-15 interchange, Exit 118 .

In Mesquite, you can play outdoors to your heart’s content. Choose from several fabulous championship golf courses; explore astonishing, nearby national and state parks; or lounge by a sparkling pool or at a luxurious day-spa. Mesquite offers 24-hour live-action poker and blackjack table games, keno, bingo, race and sports books, and the latest in slot and video machines.

The Virgin Mountain foothills cradle seven championship golf courses designed by renowned golf architects such as Cal Olson, Gary Panks, Kelby Hughes and Arnold Palmer. Each golf course offers its own unique playing experience around and through the canyons of Mesquite. Featuring lush greens that wind through rugged desert arroyos, natural wetlands, panoramic fairways and stunning layouts, every golfer, from pro to novice, can find a course that matches his or her skill level. The list includes Casablanca Golf Club, Conestoga Golf Club, The Coyote Springs Golf Club, Falcon Ridge Golf Course, Oasis Golf Club, Palms Golf Club, and Wolf Creek Golf Club.

OFFERING MEMORANDUM: MULTIFAMILY/EXTENDED STAY OPPORTUNITY 15 Mesquite Overview (con’t)

RECENT DEVELOPMENT HIGHLIGHTS: Eagles Landing Travel Plaza became the first new commercial project at the recently completed Exit 118, I-15 interchange in Mesquite. This 17-acre facility features 8 diesel lanes with high-speed pumps, 65 truck parking spots, dedicated RV parking, and a large tire store. The ±18,900 SF convenient store is well-stocked with all the essentials including a wide variety of food choices and a massive coffee bar. The facility features a full-size liquor store, authentic Mexican food from Mr. Taco, and a Wendy’s. www.eagleslandingtravelplaza.com

Another project that opened in October of 2016 is the Rising Star Sports Ranch Resort. The Resort caters to athletic competitions, camps and tournaments as well as family and group events. The ranch themed accommodations feature bunk beds suites with up to 6 beds per room and connecting rooms for coaches, parents or chaperones. The “Backyard” is the spacious outdoor area includes Swimming Pool, Hot Tub, Putting Green, Batting cages, Basketball Court, Picnic and BBQ area, indoor arcade and much more. Elite Nike Baseball Camp Director Tom Myers has selected the Resort to host Nike Baseball Camps this summer. http://www.risingstarsportsranch.com/

Mesquite Sports and Event Complex is located at 1635 World Champion Way in Mesquite. This Sports Complex features three (3) Synthetic Athletic Fields, two (2) Natural Grass Fields, a Splash Pad Play Area, Pavilion /Picnic Area, Restrooms and Drinking Fountains. It attracts Sports events of all types including Soccer Championships, Baseball Camps and The World Longest Drive Championship. http://www.mesquitenv.gov/city-government/parks-facilities/parks/sports-event-complex

OFFERING MEMORANDUM: MULTIFAMILY/EXTENDED STAY OPPORTUNITY 16 State of Nevada Incentives

Sales & Use Tax Modified Business Personal Property Real Property Tax Aviation Parts Tax Data Center Tax NEVADA TAX ABATEMENTS: Abatement Tax Abatement Tax Abatement Abatement for Recycling Abatement Abatement

Approximate 75% tax abatement Up to 50% abatement for up Up to 50% abatement for up to Up to 50% abatement for up to Approximate 75% sales tax Approximate 75% sales tax and 75% RURAL LOCATION on capital equipment to 4 years on quarterly payroll 10 years on personal property 10 years on real property for and 50% personal property tax personal property tax abatements *This is a summary only, please refer to Nevada Revised purchases - rate reduced to 2% over $50,000 taxed at 1.475% NRS 361.0687 qualified recycling businesses abatements for up to 20 years for up to 10 or 20 years NRS 374.357 NRS 363B.120 NRS 701A.210 AB 161 SB 170 Statutes for complete abatement program requirements 78th (2015) Session 78th (2015) Session

Requirment Type & Timeline 2 years 2 years 2 years 2 years 1 year 5 years

$1,000,000 Manufacturing $1,000,000 Manufacturing $25,000,000 for 10 years New $250,000 $250,000 $250,000 $250,000 $250,000 $100,000,000 for 20 years Non-Manufacturing Non-Manufacturing

Capital Rural Investment <100,000/60,000

20% of the value of 20% of the value of 20% of the value of 20% of the value of $25,000,000 for 10 years Expansion $250,000 tangible property tangible property tangible property tangible property $100,000,000 for 20 years

10 for 10 years New 10 10 10 10 5 50 for 20 years

Number of Primary Rural Jobs Created <100,000/60,000

10% or 6 whichever 10% or 6 whichever 10% or 6 whichever 10% or 6 whichever 3% or 3 whichever 10 for 10 years Expansion is greater is greater is greater is greater is greater 50 for 20 years

100% statewide or 100% statewide or 100% statewide or 100% statewide or 100% statewide or 100% statewide or New county average wage, county average wage, county average wage, county average wage, county average wage, county average wage, whichever is less whichever is less whichever is less whichever is less whichever is less whichever is less

Minimum Hourly Rural Wage Level <100,000/60,000 100% statewide or county 100% statewide or county 100% statewide or county 100% statewide or county 100% statewide or county 100% statewide or county Expansion average wage, average wage, average wage, average wage, average wage, average wage, whichever is less whichever is less whichever is less whichever is less whichever is less whichever is less

** The applicant will provide a medical insurance plan for all employees including TAX CLIMATE an option for dependent health insurance coverage of which the employer will pay at least 50% of the premium.

No Corporate Income Tax No Inheritance or Gift Tax ** The applicant is expected to register pursuant to the laws of Nevada and to No Personal Income Tax No Unitary Tax obtain all licenses and permits required by Nevada and the county, city, or town in which business operates. No Franchise Tax on Income No Estate Tax No Inventory Tax * Competitive Sales and Property Tax Rates ** The applicant commits to maintaining the business in Nevada for 5 years. * Minimal Employer Payroll Tax

* Sun Commercial does not represent or warranty this information.

OFFERING MEMORANDUM: MULTIFAMILY/EXTENDED STAY OPPORTUNITY 17 Cathy Jones, CPA, SIOR, CCIM Michael Hsu Paul Miachika CEO Senior Vice President Executive Vice President (702) 968-7320 (702) 968-7321 (602) 814-0661 [email protected] [email protected] [email protected] NV Lic # B.0056010.CORP NV Lic # S.0051609.LLC NV Lic # S.0184612