Broadmoor 24 | 65 Units | Norman, Ok Plaza 24

BROADMOOR 24 | 65 UNITS | NORMAN, OK AND PLAZA 24 | 100 UNITS | NORMAN, OK

OFFERING MEMORANDUM CAPITAL MARKETS | MULTIFAMILY A UNIQUE UPSIDE OPPORTUNITY AFFILIATED BUSINESS DISCLOSURE CBRE, Inc. operates within a global family of companies with many subsidiaries and/or related entities (each an “Affiliate”) engaging in a broad range of commercial real estate businesses including, but not limited to, brokerage services, property and facilities management, valuation, investment fund management and development. At times different Affiliates may represent various clients with competing interests in the same transaction. For example, this Memorandum may be received by our Affiliates, including CBRE Investors, Inc. or Trammell Crow Company. Those, or other, Affiliates may express an interest in the property described in this Memorandum (the “Property”) may submit an offer to purchase the Property and may be the successful bidder for the Property. You hereby acknowledge that possibility and agree that neither CBRE, Inc. nor any involved Affiliate will have any obligation to disclose to you the involvement of any Affiliate in the sale or purchase of the Property. In all instances, however, CBRE, Inc. will act in the best interest of the client(s) it represents in the transaction described in this Memorandum and will not act in concert with or otherwise conduct its business in a way that benefits any Affiliate to the detriment of any other offeror or prospective offeror, but rather will conduct its business in a manner consistent with the law and any fiduciary duties owed to the client(s) it represents in the transaction described in this Memorandum.

CONFIDENTIALITY AGREEMENT This is a confidential Memorandum intended solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property. This Memorandum contains selected information pertaining to the Property and does not purport to be a representation of the state of affairs of the Property or the owner of the Property (the “Owner”), to be all-inclusive or to contain all or part of the information which prospective investors may require to evaluate a purchase of real property. All financial projections and information are provided for general reference purposes only and are based on assumptions relating to the general economy, market conditions, competition and other factors beyond the control of the Owner and CBRE, Inc. Therefore, all projections, assumptions and other information provided and made herein are subject to material variation. All references to acreages, square footages, and other measurements are approximations. Additional information and an opportunity to inspect the Property will be made available to interested and qualified prospective purchasers. In this Memorandum, certain documents, including leases and other materials, are described in summary form. These summaries do not purport to be complete nor necessarily accurate descriptions of the full agreements referenced. Interested parties are expected to review all such summaries and other documents of whatever nature independently and not rely on the contents of this Memorandum in any manner. Neither the Owner or CBRE, Inc, nor any of their respective directors, officers, Affiliates or representatives make any representation or warranty, expressed or implied, as to the accuracy or completeness of this Memorandum or any of its contents, and no legal commitment or obligation shall arise by reason of your receipt of this Memorandum or use of its contents; and you are to rely solely on your investigations and inspections of the Property in evaluating a possible purchase of the real property. The Owner expressly reserved the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions with any entity at any time with or without notice which may arise as a result of review of this Memorandum. The Owner shall have no legal commitment or obligation to any entity reviewing this Memorandum or making 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 obligations therein have been satisfied or waived. By receipt of this Memorandum, you agree that this Memorandum 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 Memorandum or any of its contents to any other entity without the prior written authorization of the Owner or CBRE, Inc. You also agree that you will not use this Memorandum or any of its contents in any manner detrimental to the interest of the Owner or CBRE, Inc. If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return this Memorandum to CBRE, Inc.

DISCLAIMER

© 2019 CBRE, Inc. The information contained in this document has been obtained from sources believed reliable. While CBRE, Inc. does not doubt its accuracy, CBRE, Inc. has not verified it and makes 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. Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited. CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners.. Capital Markets PREPARED BY

EVA WILLS FIRST VICE PRESIDENT +1 405 607 6230

| Multifamily [email protected]

WILLIAM FORREST FIRST VICE PRESIDENT +1 405 607 6251 [email protected]

TABLE OF CONTENTS

01 02 03 04 05 06

EXECUTIVE PROPERTY FINANCIAL MARKET MARKET APPENDIX SUMMARY DESCRIPTION SUMMARY ANALYSIS OVERVIEW EXECUTIVE SUMMARY THE OFFERING CBRE is pleased to present the opportunity to acquire Broadmoor 24 (65 units) and Plaza 24 (100 units). Investors are encouraged to purchase these properties as a portfolio; however the owner will consider offers for the individual properties as well.

This portfolio is offered all cash, allowing a new owner to obtain attractive long-term, fixed rate financing currently available.

INVESTMENT SUMMARY

Offering Price To Be Determined By Market Terms All Cash Total Units 165 Broadmoor 24 65 Plaza 24 100 Year Built Broadmoor 24 1971 Plaza 24 1969 Total Net Rentable Area ±124,497 square feet Average Unit Size Broadmoor (One Bedroom) ±632 square feet Broadmoor (Two Bedroom) ±975 square feet Total Square Footage 52,742 square feet Plaza (One Bedroom) ±670 square feet Plaza (Two Bedroom) ±876 square feet Total Square Footage 72,098 square feet

BROADMOOR 24 & PLAZA 24 | 5 BROADMOOR 24 INVESTMENT HIGHLIGHTS

• Available all cash • The floor plans are excellent in design–offering one bedroom andtwo bedroom units. With an average of 811 square feet per unit. • Community amenities include onsite laundry facilities, swimming pool, leasing office, and clubhouse. • Units are individually metered for water and electricity. • As part of the Oklahoma City MSA, Norman is riding a wave of positive economic news, beginning with one of the lowest employment rates (MSAs over 1,000,000) at 3.5% (BLS September 2018). Oklahoma City’s strong and growing economy, outstanding cultural offerings and bold municipal leadership has helped propel it to the top of the list of the most livable communities (Livable, 2018).

6 | BROADMOOR 24 & PLAZA 24 BROADMOOR 24 & PLAZA 24 INVESTMENT HIGHLIGHTS

Broadmoor 24 & Plaza 24 consist of total electric units, individually metered of restaurants on I-35 stretching to the south and north. The University of and feature fully equipped kitchens. Community courtyards offer residents at Oklahoma, Norman’s largest employer and the city’s largest economic driver each location a welcoming setting to enjoy year-round. In addition to upgrading generates over $354 million of economic activity, is 1.9 miles from the property. unit interiors, a new owner may want to enhance the courtyards by adding an The two properties are also within 10 minutes of Norman Regional Health outdoor picnic table, grill and seating areas. System, Norman’s second largest employer.

EMPLOYMENT HIGHLIGHTS LOCATION Both properties are located in the HEART of Norman, which boasts a strong Located less than two miles from The University of Oklahoma, along 24th Avenue, demographic profile ideally suited for apartment rental. Broadmoor24 istwo Broadmoore 24 and Plaza 24 are well-situated to provide tenants quick and blocks north of Main Street, while Plaza 24 is one block north of Lindsey Street; convenient access to campus. With easy access to I-35, residents not only have both streets connect to I-35 leading to OKC, significant employment and new quick access to the university, but also the Jimmie Austin Golf Course, and both developments surrounding this area of Norman. New developments are taking the Gaylord Family Oklahoma Memorial Stadium and the Lloyd Noble Center. place one mile north of Broadmoor 24 such as University Town Center which Campus Corner, a popular restaurant and bar district in Norman is located features ±353,433 sq. ft. of hotels, services and retail shops (Super Target, about 10 minutes east. The city of Norman is located on the south side of the Kohl’s, Embassy Suites Norman - Hotel & Conference Center, HomeGoods, Oklahoma City Metropolitan Area, an MSA with a population near 1.3 million. Zio’s and many more). One mile west is Sooner Mall and a significant number

BROADMOOR 24 & PLAZA 24 | 7 PROPERTY DESCRIPTION BROADMOOR 24

COMMUNITY AMENITIES APARTMENT HOME AMENITIES

• Excellent location • Fully equipped kitchen featuring refrigerator, dishwasher, garbage disposal and range/oven • One outdoor swimming pool • Large closets • On-site laundry facilities • Ceiling fans • On-site Maintenance • Thermostat controlled central heat and A/C • Separate leasing office • Patios and Balconies • Easy access to freeways and shopping • Coffee Bar • High speed internet access • Package Services

Broadmoor 24 is located in the desirable city of Norman, a suburb of Oklahoma City. Multifamily communities in this suburb tend to have above average occupancy rates compared to the rest of Oklahoma City. Broadmoor 24 is located in a quiet neighborhood just minutes from I-35. University Town Center, the largest rgional power center in the Oklahoma City MSA, is just minutes away from the property.

BROADMOOR 24 & PLAZA 24 | 9 BROADMOOR 24 PROPERTY DETAILS

BUILDING & SITE DESCRIPTION CONSTRUCTION

515 24th Ave. NW Building Type Wood frame with brick veneer Address Norman, OK 73069 Roof Pitched roof and composition shingles Number of Units 65 Water Heaters Individual water heaters per unit Occupancy 98% HVAC Individual central heat and air Number of Buildings 9 systems per unit Number of Stories 2 Flooring Plank, Number of Floor Plans 2 Wall-to-wall carpet Year Built 1971 Net Rentable Area ±52,399 SF Average Unit Size ±632/975 SF DEPOSITS & LEASING FEES

$150 - One Bedroom; Security Deposit SITE $250 - Two Bedroom Application Fee $35 per Applicant Lot Size ±1 acres Pet Deposit $400 Asphalt with concrete curbs Parking and sidewalks Zoning RM-6 According to NFIP Map Number UTILITIES Flood Zone 40027C0280H, the property is not located Provider Paid By in a flood zone and has a low flood risk. Electricity OG&E Resident Water/Sewer City of Norman Owner PROPERTY TAXES (2018 TAX) Trash Removal City of Norman Resident Telephone COX Resident Account Number R0049156 Internet COX Resident Market Value $2,032,105 Cable COX Resident Assessed Value $243,853 Assessment Percentage 12% of Taxable Market Value Tax Rate (2018) $117.17 2018 Tax $28,572

10 | BROADMOOR 24 & PLAZA 24 BROADMOOR 24 UNIT MIX SUMMARY

Market Rent Unit Description Units SF/Unit1 (±) Per Unit Per SF 1 Bed | 1 Bath 32 632 $540 $0.85

2 Bed | 1.5 Bath 34 975 $685 $0.70

TOTAL 65 52,742 $40,030 $0.76

BROADMOOR 24 FLOOR PLANS

1 Bed / 1 Bath 2 Bed/ 1.5 Bath

BROADMOOR 24 & PLAZA 24 | 11 BROADMOORE 24 PROPERTY PHOTOS

12 | BROADMOOR 24 & PLAZA 24 BROADMOOR 24 & PLAZA 24 | 13 PLAZA 24 APARTMENTS

COMMUNITY AMENITIES

• Outdoor swimming pool

• On-site leasing office

• On-site laundry facility

• Mature landscaping

• Cable ready

• Excellent location

• Secure Mail Access

APARTMENT HOME AMENITIES

• Fully equipped kitchens with dishwasher, frost-free refrigerator and range/oven

• Mini blinds

• Ceiling fan(s)

• Oversized closets

• Wall-to-wall carpet

14 | BROADMOOR 24 & PLAZA 24 PLAZA 24 PROPERTY DETAILS

BUILDING & SITE DESCRIPTION CONSTRUCTION

917 24th Ave SW Building Type Wood frame with brick veneer Address Norman, OK 73069 Roof Pitched roof and composition shingles Number of Units 100 Water Heaters Individual water tanks Occupancy 94% HVAC Individual central heat and air Number of Buildings 8 Number of Stories 2 Number of Floor Plans 2 Year Built 1969 Net Rentable Area ±72,098 SF DEPOSITS & LEASING FEES Average Unit Size ±670/876 SF $150 – One Bedroom; Security Deposit $250 – Two Bedroom SITE Application Fee $35 per Applicant Pet Deposit $400 Lot Size ±3.60 acres Pet Rent $35 per month Asphalt with concrete curbs Month-To-Month $100 per month Parking and sidewalks Zoning RM-6 According to NFIP Map Number Flood Zone 40027C0280H, the property is not located in a flood zone and has a low flood risk. UTILITIES Provider Paid By PROPERTY TAXES (2018 TAX) Electricity OEC Resident Water/Sewer City of Norman Owner Account Number R0098544 Trash Removal City of Norman Owner Market Value $2,175,916 Telephone COX Owner Taxable Market Value $2,175,916 Internet COX Owner Assessed Value $261,110 Cable COX Owner Assessment Percentage 12% of Taxable Market Value Tax Rate (2018) $117.07 2018 Tax $30,594

BROADMOOR 24 & PLAZA 24 | 15 PLAZA 24 UNIT MIX SUMMARY

Market Rent Unit Description Units SF/Unit1 (±) Per Unit Per SF 1 Bed | 1 Bath 72 670 $570 $0.85

2 Bed | 1 Bath 28 876 $660 $0.75

TOTAL 100 72,098 $59,520 $0.82

PLAZA 24 FLOOR PLANS

1 Bed / 1 Bath 2 Bed / 1 Bath

16 | BROADMOOR 24 & PLAZA 24 PLAZA 24 PROPERTY PHOTOS

BROADMOOR 24 & PLAZA 24 | 17 4

AREA EMPLOYERS MAP 16

1. University of Oklahoma

2. Norman Regional Health System 13 3. Norman Public Schools 2

4. Johnson Controls

5. Riverwind Casino

6. Walmart Supercenters

7. City of Norman 14 8. U.S. Postal Service National Center for Employee Development 15

2 9. Hitachi Computer Products, Inc. 11 12 2 Broadmoor 24 10. National Oceanic & Atmospheric 6 Administration (NOAA) 7 6 11. Oklahoma Veterans Center 15 3 15 12. Griffin Memorial Hospital

13. SYSCO Food Services of Oklahoma 1 14. Office Depot/Office Max

15. AT&T Plaza 24

16. Moore Norman Technology Center

17. SITEL 8 18. MSCI 9 19. Astellas Pharma Technologies 18 17 5 10

19 18 | BROADMOOR 24 & PLAZA 24 6 FINANCIAL SUMMARY BROADMOOR 24 PRO FORMA PLAZA 24 PRO FORMA

Price: Price To Be Determined by Market Price: Price To Be Determined by Market Terms: All Cash Terms: All Cash # Units: 65 # Units: 100 Total NRA (Sq. Ft.): ±52,399 Total NRA (Sq. Ft.): ±72,098

INCOME 2018 PER UNIT INCOME 2018 PER UNIT

Gross Potential Rent (GPR) $476,004 $7,323.14 Gross Potential Rent (GPR) $707,400 $7,145.45 Vacancy Loss (8%) (47,600) (732.31) Vacancy Loss (8%) (56,592) (571.64) Effective Rental Income 428,404 6,590.82 Effective Rental Income 650,808 6,573.82 Other Income 39,500 607.69 Other Income 73,481 742.23 Credit/Collection Loss (2%) (4,679) (71.99) Credit/Collection Loss (2%) (14,486) (146.32) Effective Gross Income $463,225 $8,802.43 Effective Gross Income $709,803 $7,169.73 EXPENSES 2018 PER UNIT EXPENSES 2018 PER UNIT Payroll (59,500) (915.38) Payroll (88,361) (892.54) Utilities (56,250) (865.38) Utilities (99,414) (1,004.18) Repairs/Maintenance (36,889) (567.52) Repairs/Maintenance (53,511) (540.52) Administrative (14,004) (215.45) Administrative (17,979) (181.61) Marketing (25,827) (397.34) Marketing (26,374) (266.40) Insurance (17,975) (276.54) Insurance (32,100) (324.24) Property Taxes (28,892) (444.49) Property Taxes (28,697) (289.87) Management Fee (18,529) (285.06) Management Fee (28,392) (286.79) Total Expenses (257,866) (3,967.17) Total Expenses (374,828) (3,786.14) Net Operating Income $205,359 $3,159.36 Net Operating Income $334,975 $3,383.59

20 | BROADMOOR 24 & PLAZA 24 MARKET ANALYSIS NORMAN APARTMENT RENT SURVEY

The Norman submarket is clearly associated with the University of Oklahoma. Norman is the third largest city in the state of Oklahoma with a population of over 110,000. Geographically Norman is on the south end of the Oklahoma City area, and is a popular suburb with its high quality public school system.

AREA COVERED: Robinson on the north, 24th Avenue on the east, Interstate 35 on the west, Highway 9 on the south.

COMMENTS: Compared to year-end 2017, this survey produced the following results: The 1BR/1BA average stayed the same, 2BR/1BA average rent increased $17, 2BR/2BA average rent decreased $8, and the 3BR/2BA average rent decreased $32. The average occupancy stayed the same.

OCCUPANCIES: Averaging – 90%

RANGE: 75% – 99%

NORMAN APARTMENT RENT SURVEY*

AVERAGE RENT AVERAGE SF AVERAGE PSF RENT RANGE

ONE BEDROOM/ONE BATH $547 664 $0.85 $370–$709

TWO BEDROOM/ONE BATH $640 850 $0.75 $497–$747

TWO BEDROOM/TWO BATH $665 933 $0.71 $450–$850

THREE BEDROOM/TWO BATH $796 1,324 $0.60 $585–$975

*As of 12/31/2018

22 | BROADMOOR 24 & PLAZA 24 MARKET OVERVIEW TRANSPORTATION

Norman is located on I-35, and is intersected by U.S. Highway 77 and State Highway 9. Norman is just 17 miles south of I-40 and I-44.

WILL ROGERS AIRPORT

Distance from Norman: 20 miles Major Airlines: Allegiant, US Airways, Delta, Frontier, United and Southwest. Major Freight Carrier Services: Airborne Express, BAX Global, Evergreen Eagle, FedEx, Integrated Airline Services, UPS, and the U.S. Postal Service.

MAX WESTHEIMER AIRPORT – NORMAN

Runway Length: 5,200 foot north/south 4,750 foot northeast/southeast

The airport has Medium Intensity Runway and Approach Lights with Visual Approach Slope Indicators serving all runways. The airport and its facilities are capable of serving executive jet aircraft. The control tower operates seven days a week from 8 a.m. to 10 p.m. AV Gas and Jet A are available from 6 a.m. to 10 p.m. FBO is provided by Cruise Aviation Association Inc., which sells fuel and performs aircraft repair. Flight schools are provided through the University of Oklahoma Aviation Division.

RAILROAD

Norman is a main line of the Santa Fe/Burlington Northern Railroad. It is also a stop on the AMTRAK Max Westheimer Airport Heartland Flyer between Oklahoma City and Fort Worth, Texas.

PUBLIC TRANSPORTATION

The Cleveland Area Rapid Transit (Cart) Service provides public transportation in and around Norman and links the service to Oklahoma City. Greyhound Lines Inc. provides service in Norman. The Port of Catoosa is the nearest river port approximately 100 miles away.

NORMAN 2025 PLAN

The City of Norman adopted the NORMAN 2025 Land Use and Transportation Plan on November 16, 2004. It represents a desired land use pattern in response to anticipated growth rates, public utility constraints, and environmental conditions. The Plan embodies a conscious decision by the City to anticipate and make choices about Norman’s future. It provides a vision for the future and a foundation for managing the City’s growth.

24 | BROADMOOR 24 & PLAZA 24 EMPLOYMENT

To get a true picture of a community, many people look at the major employers—manufacturers, businesses and organizations that bring people to town for jobs and contribute to the quality of life enjoyed by residents.

Norman is known as an education community—a logical distinction because two of the city’s top employers are the University of Oklahoma and the Norman Public School System. The health care needs of many central and south central Oklahoma residents are served by Norman’s medical community. Norman Regional Hospital has experienced significant growth during the last several years, making it the second largest employer in the community.

MAJOR EMPLOYERS COMPANY NAME INDUSTRY # OF EMPLOYEES The University of Oklahoma Higher Education 12,446 Norman Regional Hospital Healthcare 3,000 Health Promotion Services Support Groups 2,700 Norman Public Schools Education 1,951 Johnson Controls Manufacturing 1,200 Riverwind Casinos Entertainment 963 Johnson Controls Manufacturing 950 Walmart Supercenter Retail 950 City of Norman Government 834 Griffin Memorial Hospital Healthcare 600 Hitachi Manufacturing 500 National Oceanic & Atmospheric Administration (NOAA) Government Administration 400 U.S. Postal Service – NCED Consumer Serivices 350 SuperTarget Retail 380 Oklahoma Veterans Center Healthcare 350 Sysco Foods Wholesale 320 Sitel Customer Service 310 Moore-Norman Technology Center Education 240 AT&T Telecommunications 225 Astellas Technologies Pharmaceutical 200 Chickasaw Nation Industries Government Relations 200 Power Cost, Inc. Technology 154 MSCI Finance 123 Source: Norman Economic Development Coalition

BROADMOOR 24 & PLAZA 24 | 25 NEW & EXPANDING EMPLOYERS HITACHI COMPUTER PRODUCTS Norman’s business climate is particularly capable of handling economic downturns due in part to the low costs of doing business relative to other parts In January 2010, Hitachi announced a 200,000 sq. ft. expansion of its of the country. These low operating costs have attracted new businesses and Norman facility. This expansion was a $20+ million investment project and induced existing businesses to expand in Norman. Notable examples of new it consolidated Hitachi’s U.S. distribution operations, relocating all North and recently expanding businesses include: American and South American functions from Indianapolis to Norman. This expansion saved 300 jobs and has created an additional 75 jobs. AGIO TECHNOLOGY NEXTTHOUGHT Agio specializes in managed IT services for hedge funds, which supports upwards of 5% of the daily volume on the US equity market. Agio opened Founded in 2011, NextThought offers products and services that enhance their official operational headquarters on the University of Oklahoma Research online education through engaged learning communities. After starting in Campus and created 39 new jobs. NEDC’s business incubator, eTec, the company graduated in 2012 and has created 38 new jobs. CIMARRON ENERGY, INC. IMMUNO MYCOLOGICS (IMMY) Cimarron is a leading designer and manufacturer of natural gas production and processing equipment. Cimarron’s latest expansion, which will generate IMMY is a US-based organization that was founded in 1979 with a particular 141 new jobs, was initiated by their recent approval for participation in the focus in mycology, or the study of fungi. Over the last thirty-five years, IMMY state’s Quality Jobs Program. This state incentive program will give Cimarron has evolved from a company that filled a need in the market to an organization energy quarterly cash rebates of up to 5% of taxable wages for up to 10 years. with a global focus on saving lives through their innovative products. IMMY’s planned expansion for 2015 in NEDC’s University North Park Advanced Manufacturing Centre is expected to create at least 50 new jobs over the next 10 years at annual salaries of at least $50,000 annually plus benefits and a $12.5 million capital investment.

26 | BROADMOOR 24 & PLAZA 24 LIVING IN NORMAN – QUALITY OF LIFE

PARKS & RECREATION DINING OUT

The Parks & Recreation department features a full schedule of programs. Norman has a wide variety of restaurants, which will appeal to anyone’s Norman has over 63 parks, including a championship golf course, municipal taste. Cuisines represented in the over 260 restaurants and cafeterias include swimming pool complex with a water slide, hiking trails, Frisbee golf course, barbecue, Mexican, Oriental, Greek, Indian, Italian, Thai, seafood, health and fishing, tennis courts, playgrounds, open and covered picnic areas and indoor natural foods. recreation centers. The recreation programs include sports leagues and clinics, dance and exercise classes and a senior citizen’s center. The Griffin Park Sports SHOPPING Complex encompasses 16 soccer fields, 14 baseball/softball fields, and four CAMPUS CORNER football fields. Norman also features a full service YMCA with an indoor pool More than 70 local and national retailers and delicious restaurants located and indoor track. under one roof. Anchor stores include Forever 21, American Eagle, Dillard’s, • Acres of parks: 913.76 Eddie Bauer, Express, Gap, J.C. Penney, Sears, The Limited, Old Navy, and • Miles of Walking Trails: 14.07 Victoria’s Secret. • Miles of Bicycle Routes: 115.87 • Bowling Alleys: 2 • Golf Courses: 4 • Swimming Pools: 3 • Private Health & Fitness Centers: 19 • Public Recreation Centers: 3

LAKE THUNDERBIRD STATE PARK

A relaxing destination for any outdoor enthusiast is provided on the 6,000 acre lake with 86 miles of shoreline and a 1,834 acre park. Campers will feel right at home with picnic facilities, grills, showers, restrooms, swimming beaches, concessions, grocery store, tent and camping facilities, horse stables, R.V. hook.

Lake Thunderbird State Park

BROADMOOR 24 & PLAZA 24 | 27 UNIVERSITY TOWN CENTER – NEW DEVELOPMENT UNIVERSITYPREMIER TOWN ONGOING CENTER SHOPPING DEVELOPMENT Phase One of+ a 2Chateau million squareNormandy foot retail Apartments center has – 1.4 been miles completed south with stores like Super Target, Kohls, Chili’s, and PetCo. Phase Two and a lifestyle center was built in 2008/2009+ anchored West Oaks by anApartments 8 acre legacy – 2.4 park miles with south a community outdoor amphitheater, lake and water features. Recently completed are a new 300 room Embassy Suites Hotel and+ Tenants a 75,000 include: square Superfoot convention Target, Kohl’s, center. Academy Sports, Cheddar’s, Logan’s Roadhouse, Mathis Brothers, Zio’s, Starbucks, Panda Express, Pei Wei, Dress Barn, Maurices, Ulta, Qdoba, Discount Tire, Vintage Stock, Monarch Dental, Petco, Kirkland’s, Michaels, HomeGoods, DSW, Dollar Tree, Five Guys Burgers & Fries, Embassy Suites Norman - Hotel & Conference Center

18 15 16 17 19 3 - 18,000 SF, DSW 20 4 - 25,000 SF, HomeGoods 21 22 23 5 - 21,216 SF, Michael’s 24 7 - 8,000 SF, Guitar Center 25 26 8 - 4,493 SF, Available 27 9 - 2,500 SF, Hotworx 10 - 5,000 SF, Phenix Salon Suites 11 - 4,491 SF, Available 12 - 1,098 SF, Available 13 - 2,834 SF, Liberty Mutual

7 8 9 10 11 13 12

170,135 SF, Target 4,188 SF, Vintage Stock 1,402 SF, Hear Again 1,400 SF, Allure Nail 23 - 4,200 SF, Uptown Cheapskate 24 - 3,100 SF, Heartland Dental 25 - 1,400 SF, Wingstop 26 - 3,978 SF, Reclaimed Warehouse 27 - 3,000 SF, Brain Balance 28 - 3,000 SF, Qdoba 29 - 2,100 SF, Bank of Oklahoma 30 - 1,400 SF, Mathnasium 31 - 1,400 SF, Gigi’s Cupcake 32 - 1,335 SF, Available 15,284 SF, Ulta Beauty 33 - 6,627 SF, Logan’s Roadhouse 5,464 SF, Lane Bryant 34 - 8,508 SF, Cheddar’s 20,813 SF, Office Depot 35 - 6,500 SF, Discount Tire 15,000 SF, Petco 36 - 2,400 SF, Panda Express 1,359 SF, Pure Barre 37 - 9,289 SF, Kirkland’s 1,350 SF, European Wax Center 38 - 5,053 SF, Mathis Brother’s Furniture

© 2016 CBRE, Inc. The information contained in this document has been obtained from sources believed reliable. While CBRE, Inc. does not doubt its accuracy, CBRE, Inc. has not verified it and makes 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. Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited. CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners.

28 | BROADMOOR 24 & PLAZA 24 HISTORIC DOWNTOWN NORMAN

Newly revitalized downtown Norman blends art, architecture, entertainment, shopping, and dining. Enjoy charming antiques, fine furniture, art galleries, and a delicious variety if unique restaurants.

PARKWAY PLAZA

Delicious restaurants, national retailers, jewelers, and specialty home stores line this exciting shopping district. You’ll find stores such as Bed, Bath, & Beyond; Barnes and Noble; PetSmart; and Ross, to name a few. Save time for dinner at restaurants including, On the Border, BJ’s, and Charleston’s.

FIREHOUSE ART CENTER

The center for visual arts education in Norman, the Firehouse Art Center provides an interactive experience through classes, exhibits, and events.

University Town Center

GOLF HOTEL/MOTEL

Norman boasts two 18-hole public golf courses: City of Norman Westwood Golf Norman offers seven bed-and-breakfasts and 20 hotels and motels offering a Course and Jimmie Austin University of Oklahoma Golf Course; and two 18-hole wide variety of accommodations. private chapionship courses, The Trails and Belmar Golf Club. Norman also has a 9 hole course, Cobblestone Creek Golf. SPORTING EVENTS

Norman is home to the University of Oklahoma Sooners. The Sooners consistently CHURCHES appear among the top-rated teams in the nation in football, baseball, softball, There are a total of 140 churches in Norman community. wrestling, basketball, golf and gymnastics.

BROADMOOR 24 & PLAZA 24 | 29 ARTS & ENTERTAINMENT

FRED JONES JR. MUSEUM OF ART JACOBSON HOUSE NATIVE AMERICAN CULTURAL CENTER

Acclaimed as one of the finest university art museums in the country. The Come to the Jacobson House to see and touch the traditions of American Indian art, museum received the Weitzenhoffer collection, the single most important history, and culture. collection of French Impressionist art ever given to a public university. The collection contains 33 works by artists including Van Gogh, Gauguin, Renoir, CLEVELAND COUNTY HISTORICAL MUSEUM Monet, Degas, Pissarro, and Toulouse-Lautrec. The museum is one of Cleveland County’s cultural and architectural showplaces. The house is an unaltered example of the late Victorian Queen Anne style characterized by its turret, gables, fluted chimneys, patterned stained glass, and spindle work porch. The interior is furnished with period pieces.

THE CRUCIBLE FOUNDRY

The Crucible Foundry specializes in bronze sculpture. The Crucible attracts artists from across the country through its growing reputation as one of the nation’s finest artistic foundries. Beside the foundry is the Crucible Gallery and Sculpture Garden.

RUPEL J. JONES THEATER

A 600-seat theater featuring productions by the University of Oklahoma School of Drama, School of Dance, Musical Theater Program and OU Summer Stage Lab Theater.

Fred Jones Jr. Museum of Art LLOYD NOBLE CENTER

Some of the hottest stars in country, rock, jazz and comedy circuits appear SAM NOBLE OKLAHOMA MUSEUM OF NATURAL HISTORY in Norman at the Lloyd Noble Center, which also serves as home to college This world-class facility provides an exciting place to discover Oklahoma’s basketball’s OU Sooners. Seating capacity is 11,205. recent past and ancient history, including the largest collection of invertebrate paleontology in the world. Located on the University of Oklahoma campus, the museum’s collections include Native American artifacts, fossils of dinosaurs and other prehistoric animals, wildlife dioramas of birds and mammals of North America, artifacts from the Spiro Mounds archaeological site and Greek and Roman artifacts.

30 | BROADMOOR 24 & PLAZA 24 THE NORMAN DEPOT MOORE NORMAN TECHNOLOGY CENTER

A reminder of the origin of many Oklahoma towns, the Santa Fe Railroad Norman is home to one of Oklahoma’s premier technical training centers, company set out the grounds for the station two years before the great Land Moore Norman Technology Center (MNTC). MNTC offers courses in a Run of 1889. The restored depot serves as a center for community events and number of training programs, and active and progressive Business Training as the depot for Heartland Flyer passengers. and Development Department that includes programs such as Small Business Management, Management Development, Quality Management Systems SOONER THEATER (ISO 9000/QS 9000), Environmental Technology Center, Customized Industry Training and Computer Training, as well as a variety of short-term courses that The newly renovated theater is the year-round host for concerts, movies, can stimulate one’s creative interests. theatrical shows, and more.

EDUCATION NORMAN PUBLIC SCHOOLS

Recognized at the state and national level for exceptional teachers and instruction programs, NPS had 13 National Merit Finalists in the 2013-2014 school year. Students from NPS continually succeed in athletics, drama, competitive speech and debate, poetry, writing, studio art, band, orchestra and student newspaper. In fact, NEWSWEEK Magazine listed Norman North High School and Norman High School in the top 5% of high schools in the nation.

UNIVERSITY OF OKLAHOMA

Known as a major, national research university, the University of Oklahoma serves the educational, cultural and economic needs of Norman, the state, region and nation. Created by the Oklahoma Territorial Legislature in 1890, University of Oklahoma Bizzell Library OU has 21 colleges offering 166 majors at the baccalaureate level, 153 majors at the master’s level, 79 majors at the doctoral level, 36 majors at the doctoral UNIVERSITY OF PHOENIX professional level, and 34 graduate certificates. OU’s enrollment is more than Also located in Norman is the University of Phoenix, an accredited university 30,000 students and the university has more National Merit Scholars per capita that offers a variety of bachelor’s, master’s and non-degree programs for than any other public university in America. Ranked in the top 10 universities working professionals. The University of Phoenix also offers a complete online in the nation by The Princeton Review, OU has 27 Rhodes Scholars and 28 program, with the possibility of obtaining a bachelor’s degree in eight different Goldwater Scholarship recipients for math and science. programs or a master’s in seven specialized areas.

BROADMOOR 24 & PLAZA 24 | 31 HEALTHCARE NORMAN REGIONAL HEALTH SYSTEM OKLAHOMA VETERAN’S CENTER NORMAN DIVISION

Providing quality and compassionate health care services and education, the A long term nursing care center, the Oklahoma Veteran’s Center’s services Norman Regional Health System (NRHS) serves the regional Norman community include doctors and social workers on every unit and physical therapy in a extending throughout south central Oklahoma. With over 2,950 employees state-of-the-art, 301-bed facility. and 356 active-staff physicians, NRHS provides outpatient diagnostic centers, medical transport services, physician services, and community wellness and SENIOR CARE employer health services. Norman features a vast array of services available for our senior adults, which includes nursing homes, senior assisted living center with Alzheimer Units, and Norman Regional Hospital is a 337-bed general acute care facility with medical Independent Living Centers. doctors representing a broad range of medical and surgical specialties in more than 27 areas. Norman Regional Hospital’s network of care also includes additional outpatient facilities located through out our service area. These facilities allow more convenient access to prevention and wellness programs, fitness, home health, physical therapy, occupational health and minor emergency care. Other facilities, including Norman Regional Family Medical Centers, provide health care services to smaller, surrounding communities.

The new HealthPlex campus at Interstate 35 and Tecumseh Road, licensed for 152 beds, features Cardiovascular Services, Spine and Orthopedic Surgery, and Women’s and Children’s Services.

J. D. MCCARTY CENTER FOR HANDICAPPED CHILDREN

A rehabilitation hospital where Oklahoma’s children with developmental disabilities learn to move, act, play, think and communicate better and where parents find relief from overwhelming responsibilities. Both inpatient and outpatient care are available.

Norman Regional Health System - HealthPlex Heart Hospital

Sources: Norman Economic Development Coalition; Norman Chamber of Commerce

32 | BROADMOOR 24 & PLAZA 24 DEMOGRAPHICS

FIVE-MILE RADIUS THREE-MILE RADIUS ONE-MILE RADIUS

2018 POPULATION 114,281 85,251 12,109

2023 PROJECTED POPULATION 122,735 90,282 12,573

2010 CENSUS POPULATION 101,789 79,155 11,591

2000 CENSUS POPULATION 88,042 71,082 11,689

GROWTH 2010-2018 1.41% 0.90% 0.53%

POPULATION GROWTH 2018-2023 1.44% 1.55% 0.75%

2018 MEDIAN AGE 30.5 28.8 29.8

2018 HOUSEHOLDS 45,920 34,763 5,570

2023 PROJECTED HOUSEHOLDS 49,240 36,795 5,785

2010 CENSUS HOUSEHOLDS 41,225 35,512 5,360

2000 CENSUS HOUSEHOLDS 36,023 29,547 5,621

GROWTH 2010-2016 1.32% 0.81% 0.47%

HOUSEHOLDS GROWTH 2016-2020 1.41% 1.14% 0.76%

2018 AVERAGE HOUSEHOLD SIZE 2.34 2.26 2.00

2018 AVERAGE HOUSEHOLD INCOME $75,387 $64,881 $50,320

2023 PROJECTED AVERAGE HOUSEHOLD INCOME $83,472 $72,108 $54,763

2018 MEDIAN HOUSEHOLD INCOME $52,348 $45,426 $34,924

2023 PROJECTED MEDIAN HOUSEHOLD INCOME $57,314 $50,116 $36,875 INCOME 2018 PER CAPITA INCOME $30,900 $27,118 $23,942

2021 ESTIMATED PER CAPITA INCOME $34,058 $29,995 $25,900

2018 HOUSING UNITS 49,057 37,455 6,178

2018 OCCUPIED UNITS 45,919 34,763 5,570

2018 VACANT UNITS 3,137 2,692 608

2018 OWNER OCCUPIED UNITS 21,806 14,610 2,014

2018 RENTER OCCUPIED UNITS 24,113 20,153 3,556 HOUSING 2018 MEDIAN HOUSING VALUE $180,631 $160,972 $114,53

2018 AVERAGE HOUSING VALUE $221,430 $195,535 $153,873

BROADMOOR 24 & PLAZA 24 | 33 APPENDIX Simple Steps To Protect Your Family Protect From Lead Hazards If you think your home has high levels of lead: Lead Gets in the Body in Many Ways Lead’s Effects Your It is important to know that even exposure N Get your young children tested for lead, even if to low levels of lead can severely harm People can get lead in their body if they: they seem healthy. Childhood children. N lead Breathe in lead dust (especially during In children, lead can cause: Family N Wash children’s hands, bottles, pacifiers, and toys renovations that disturb painted N often. poisoning surfaces). Nervous system and kidney damage. Brain or Nerve Damage remains a N Put their hands or other objects N Learning disabilities, attention deficit N Make sure children eat healthy, low-fat foods. major covered with lead dust in their mouths. disorder, and decreased intelligence. Hearing From Problems N Get your home checked for lead hazards. environmen- N Eat paint chips or soil that contains N Speech, language, and behavior tal health lead. problems. N Regularly clean floors, window sills, and other problem in N Poor muscle coordination. Lead In surfaces. Slowed Lead is even more dangerous to children the U.S. N Decreased muscle and bone growth. Growth under the age of 6: N Wipe soil off shoes before entering house. N Hearing damage. N At this age children’s brains and nervous While low-lead exposure is most Your N Talk to your landlord about fixing surfaces with systems are more sensitive to the dam- common, exposure to high levels of aging effects of lead. peeling or chipping paint. lead can have devastating effects on N Take precautions to avoid exposure to lead dust Even children N Children’s growing bodies absorb more children, including seizures, uncon- who appear lead. sciousness, and, in some cases, death. Home when remodeling or renovating (call 1-800-424- healthy can LEAD for guidelines). N Babies and young children often put Although children are especially have danger- their hands and other objects in their susceptible to lead exposure, lead N Don’t use a belt-sander, propane torch, high ous levels of mouths. These objects can have lead can be dangerous for adults too. lead in their dust on them. Digestive temperature heat gun, scraper, or sandpaper on bodies. In adults, lead can cause: Problems painted surfaces that may contain lead. N Increased chance of illness during Reproductive Lead is also dangerous to women of pregnancy. Problems United States N Don’t try to remove lead-based paint yourself. childbearing age: (Adults) Environmental N Harm to a fetus, including brain N Women with a high lead level in their Protection Agency damage or death. system prior to pregnancy would expose Lead affects United States a fetus to lead through the placenta N Fertility problems (in men and women). the body in many ways. Consumer Product during fetal development. N High blood pressure. Safety Commission N Digestive problems. N Nerve disorders. United States Department of Housing N Memory and concentration problems. and Urban Development N Muscle and joint pain.

Recycled/Recyclable 3 Printed with vegetable oil based inks on recycled paper 2 (minimum 50% postconsumer) process chlorine free.

Are You Planning To Buy, Rent, or Renovate IMPORTANT! Where Lead-Based Paint Is Found Identifying Lead Hazards a Home Built Before 1978? Lead-based paint is usually not a hazard if In general, Many homes built before 1978 have lead- based paint. The federal government it is in good condition, and it is not on an Lead from any houses and apartments built before 1978 have the older your banned lead-based paint from housing in impact or friction surface, like a window. It paint chips, is defined by the federal government as paint that contains high levels of lead (called lead- home, the 1978. Some states stopped its use even which you Lead From Paint, Dust, and more likely it earlier. Lead can be found: paint with lead levels greater than or equal based paint). Lead from paint, chips, and dust can to 1.0 milligram per square centimeter, or can see, and M has lead- pose serious health hazards if not taken care of properly. Soil Can Be Dangerous If Not N In homes in the city, country, or suburbs. more than 0.5% by weight. lead dust, based paint. N In apartments, single-family homes, and Deteriorating lead-based paint (peeling, which you Managed Properly both private and public housing. can’t always OWNERS, BUYERS, and RENTERS are chipping, chalking, cracking or damaged) is a hazard and needs immediate attention. see, can both encouraged to check for lead (see page 6) N Inside and outside of the house. FACT: Lead exposure can harm young It may also be a hazard when found on sur- be serious before renting, buying or renovating pre- N In soil around a home. (Soil can pick up children and babies even before they faces that children can chew or that get a hazards. 1978 housing. lead from exterior paint or other sources lot of wear-and-tear, such as: are born. such as past use of leaded gas in cars.) N Windows and window sills. ederal law requires that individuals receive certain FACT: Even children who seem healthy can Checking Your Family for Lead N Doors and door frames. information before renting, buying, or renovating have high levels of lead in their bodies. N Stairs, railings, banisters, and porches. pre-1978 housing: To reduce your child's exposure to lead, Lead dust can form when lead-based paint is scraped, sanded, or F FACT: People can get lead in their bodies by Get your get your child checked, have your home heated. Dust also forms when painted surfaces bump or rub togeth- breathing or swallowing lead dust, or by children and tested (especially if your home has paint er. Lead chips and dust can get on surfaces and objects that people LANDLORDS have to disclose known infor- in poor condition and was built before eating soil or paint chips containing home tested touch. Settled lead dust can re-enter the air when people vacuum, mation on lead-based paint and lead-based if you think 1978), and fix any hazards you may have. sweep, or walk through it. The following two federal standards have paint hazards before leases take effect. lead. Children's blood lead levels tend to increase been set for lead hazards in dust: your home rapidly from 6 to 12 months of age, and Leases must include a disclosure about N 40 micrograms per square foot (μg/ft2) and higher for floors, FACT: People have many options for reducing has high lev- tend to peak at 18 to 24 months of age. lead-based paint. els of lead. including carpeted floors. lead hazards. In most cases, lead-based Consult your doctor for advice on testing N 250 μg/ft2 and higher for interior window sills. your children. A simple blood test can paint that is in good condition is not a Lead in soil can be a hazard when children play in bare soil or SELLERS have to disclose known informa- detect high levels of lead. Blood tests are hazard. usually recommended for: when people bring soil into the house on their shoes. The following tion on lead-based paint and lead-based two federal standards have been set for lead hazards in residential paint hazards before selling a house. Sales FACT: Removing lead-based paint improperly N Children at ages 1 and 2. soil: contracts must include a disclosure about can increase the danger to your family. N Children or other family members who N 400 parts per million (ppm) and higher in play areas of bare soil. lead-based paint. Buyers have up to 10 have been exposed to high levels of lead. N 1,200 ppm (average) and higher in bare soil in the remainder of days to check for lead. N Children who should be tested under the yard. If you think your home might have lead your state or local health screening plan. The only way to find out if paint, dust and soil lead hazards exist is hazards, read this pamphlet to learn some Your doctor can explain what the test results to test for them. The next page describes the most common meth- RENOVATORS disturbing more than 2 square mean and if more testing will be needed. ods used. feet of painted surfaces have to give you simple steps to protect your family. 5 this pamphlet before starting work. 4

BROADMOOR 24 & PLAZA 24 | 35 Simple Steps To Protect Your Family Protect From Lead Hazards If you think your home has high levels of lead: Lead Gets in the Body in Many Ways Lead’s Effects Your It is important to know that even exposure N Get your young children tested for lead, even if to low levels of lead can severely harm People can get lead in their body if they: they seem healthy. Childhood children. N lead Breathe in lead dust (especially during In children, lead can cause: Family N Wash children’s hands, bottles, pacifiers, and toys renovations that disturb painted N often. poisoning surfaces). Nervous system and kidney damage. Brain or Nerve Damage remains a N Put their hands or other objects N Learning disabilities, attention deficit N Make sure children eat healthy, low-fat foods. major covered with lead dust in their mouths. disorder, and decreased intelligence. Hearing From Problems N Get your home checked for lead hazards. environmen- N Eat paint chips or soil that contains N Speech, language, and behavior tal health lead. problems. N Regularly clean floors, window sills, and other problem in N Poor muscle coordination. Lead In surfaces. Slowed Lead is even more dangerous to children the U.S. N Decreased muscle and bone growth. Growth under the age of 6: N Wipe soil off shoes before entering house. N Hearing damage. N At this age children’s brains and nervous While low-lead exposure is most Your N Talk to your landlord about fixing surfaces with systems are more sensitive to the dam- common, exposure to high levels of aging effects of lead. peeling or chipping paint. lead can have devastating effects on N Take precautions to avoid exposure to lead dust Even children N Children’s growing bodies absorb more children, including seizures, uncon- who appear lead. sciousness, and, in some cases, death. Home when remodeling or renovating (call 1-800-424- healthy can LEAD for guidelines). N Babies and young children often put Although children are especially have danger- their hands and other objects in their susceptible to lead exposure, lead N Don’t use a belt-sander, propane torch, high ous levels of mouths. These objects can have lead can be dangerous for adults too. lead in their dust on them. Digestive temperature heat gun, scraper, or sandpaper on bodies. In adults, lead can cause: Problems painted surfaces that may contain lead. N Increased chance of illness during Reproductive Lead is also dangerous to women of pregnancy. Problems United States N Don’t try to remove lead-based paint yourself. childbearing age: (Adults) Environmental N Harm to a fetus, including brain N Women with a high lead level in their Protection Agency damage or death. system prior to pregnancy would expose Lead affects United States a fetus to lead through the placenta N Fertility problems (in men and women). the body in many ways. Consumer Product during fetal development. N High blood pressure. Safety Commission N Digestive problems. N Nerve disorders. United States Department of Housing N Memory and concentration problems. and Urban Development N Muscle and joint pain.

Recycled/Recyclable 3 Printed with vegetable oil based inks on recycled paper 2 (minimum 50% postconsumer) process chlorine free.

36 | BROADMOOR 24 & PLAZA 24