HILTON BLUFFS ON THE WILMINGTON,

±4,084-ACRE DEVELOPMENT & INVESTMENT OPPORTUNITY CONTENTS

01 EXECUTIVE SUMMARY

02 PROPERTY INFO

03 LOCATION OVERVIEW EXECUTIVE SUMMARY / PROPERTY INFO / LOCATION OVERVIEW

01 EXECUTIVE SUMMARY 3 EXECUTIVE SUMMARY / PROPERTY INFO / LOCATION OVERVIEW

EXECUTIVE SUMMARY

The offering features roughly 4,084 acres of land along the Northeast Cape

Fear River in Wilmington, New Hanover County, North Carolina. ER IV R AR FE PE A C The Property is centrally located in New Hanover County with easy access T S A E H to I-140, Brunswick and Pender Counties. Located off US Highway 133 T R O and I-140 exit 17 interchange, it is positioned just past the General Electric N manufacturing plant (2,000 employees) off Castle Hayne Road, roughly four miles north of the Wilmington International Airport and fifteen minutes north of Downtown Wilmington.

Consisting of just under 4,100 acres, over 900 acres of which are considered to be upland acres, the offering features an abundance of wildlife canopied by mature timber, as well as approximately eight miles of private river frontage along the Northeast , representing a one-of-a- kind and irreplaceable opportunity to create a destination and mixed-use, master-planned development.

The Property is located within the Rural Agriculture (RA) zoning district within New Hanover County which allows for 1 single family residential dwelling unit per acre. Though the existing zoning in place allows for the property to be developed for over 4,000 residential units, we expect one may desire to rezone the Property to a Planned Development (PD) which would allow for a mix of residential uses as well as mixed-use development.

Demand for residential housing, the affordability of the market, and being that this tract is in the path of growth are a few of the drivers increasing the desirability for developers seeking the next great location for a master- 133 planned development. The area represents a second home and destination market for those seeking access to the multitude of recreational activities 17 Wilmington has to offer. 421

4 EXECUTIVE SUMMARY / PROPERTY INFO / LOCATION OVERVIEW

02 PROPERTY INFORMATION 1 EXECUTIVE SUMMARY / PROPERTY INFO / LOCATION OVERVIEW

PROPERTY INFORMATION

Sledge Road ADDRESS Castle Hayne, North Carolina

REID #S R00900-001-001-000 & R00900-001-002-000

NEAREST MSA Wilmington

COUNTY New Hanover County

JURISDICTION New Hanover County

ZONING RA-Rural Agriculture

UTILITIES Municipal water & sewer

TOPOGRAPHY Level

UPLAND ACRES ±904 acres

LOWLAND ACRES ±3,170 acres

TOTAL ACREAGE ±4,084 acres

PRICING GUIDANCE Call for details

2 EXECUTIVE SUMMARY / PROPERTY INFO / LOCATION OVERVIEW

WETLANDS & FLOOD MAP

NOTE: This map is for preliminary planning purposes only. Findings are based upon a review of available aerial photography and limited ground-truthing. Lines depicted on LLEGENDegend the map are approximate based upon preliminary field sketches and do not represent distinct boundaries. A formal delineation and US Army Corps of Engineers review and Boundary 4,084.0 ac approval is recommended prior to specific site planning. Property boundaries are Boundary 4,084.0 acres based upon available tax parcel information. UUplands:plands: ~±9904.704.7 aacresc or or 2 222%% WWetlands:etlands: ~±33,170,170 aacresc o ror 7 878%% PoPotentialtential Non-JurisdictionalNon-Jurisdictio Wetlands:nal Wet la±n9.3ds :acres ~ 9. 3or a<1%c o r <1% Stream: ±3,550 L.F. Stream: ~3,550 L.F. Jurisdictional Ditches: ±30,750 J.F. Jurisdictional Ditches: ~30,750 L.F. Marginal Area: ±15 acres (calculated in uplands) M arginal Areas: ~15 ac (Calculated in Uplands)

Source: Esri, DigitalGlobe, GeoEye, Earthstar Geographics, CNES/Airbus DS, USDA, USGS, AeroGRID, IGN, and the GIS User Community

Hilton Properties Tract New Hanover County, NC Preliminary ¯ 3 Wetland Assessment L:\WETLANDS\2021 WETLANDS FILES\LMG21.363 --- Hilton Tract, 0 5510,100 2,200 3,300 4,400 Hilton Properties\Maps Overview Map August 2021 3805 Wrightsville Avenue Feet Boundaries are approximate and not meant to be absolute. LMG21.363 Wilmington, NC 28403 1 of 4 Map Source: NHC 2020 Aerial Photography (910) 452-0001 Scale applies to 11X17" print. EXECUTIVE SUMMARY / PROPERTY INFO / LOCATION OVERVIEW

Untitled map ZONING MAP TOPOGRAPHIC MAP Zoning Districts

LEGEND 1:72,224 4/30/2021 RA - Rural Agricultural R-20 - Residential 20 PD - General Planned Development I-1 - Light Industrial 0 0.5 1 2 mi 4/30/2021, 10:54:24 AM 1:32,000 Zoning 0 0.38 0.75 1.5 mi 0 0.75 1.5 3 km SC I-1 AR R-10 R-20S RMF-L UMXZ R-10 - Residential 10 B-2 - Regional Business O&I - Office &Institutional I-2 - Heavy Industrial 0 0.5 1 2 km Copyright:© 2013 National Geographic Society, i-cubed B-1 Conditional Zoning O&I I-2 R-5 R-15 EDZD RMF-M New Hanover County, NC CB CUD AC RA R-7 R-20 PD RFMU 4 B-2 CZD NHC GIS Services New Hanover County, NC EXECUTIVE SUMMARY / PROPERTY INFO / LOCATION OVERVIEW

? UTILITIES

Buildout of roughly 900 acres of uplands would require an onsite pump station designed to Cape Fear Public Utility Authority (CFPUA) standards, discharging to an offsite sewer pressurized main.

Sewer engineering has been underway and is approximately 1,500 feet away south of Interstate 140. A quick check of available sewer capacity shows that existing infrastructure may not have capacity to convey the sewage at buildout from such a large uplands tract to the Northside Wastewater Treatment Plant. An onsite pump station and collection system ? ? ? ??

? ? would be expected for a property of this magnitude. ?

? ?

A water main is within close proximity to the site and is currently serving the neighboring

? ? ? General Electric Wilmington manufacturing plan. Pursuant to our initial due diligence ? of existing infrastructure, our findings show it may not have capacity to supply water at

? buildout to such a large uplands tract from the Sweeney Water Treatment Plant. One would

? ? need to improve and upgrade existing piping in order to increase water capacity for the

? property. ?

? Once a developer engages a professional engineer for the project, the CFPUA can support

LEGEND ? their preparation of a Preliminary Engineering Report to perform the requisite calculations Legend HILTON PROPERTIES necessary for such an analysis.

HiltonTREATMENT Properties PLANT ? 3 Q Treatment Plant ? ?

PRESSURIZED MAIN ?

? As we understand it, the offsite improvement requirements may be extensive but could not

? Pressurized Main ?

? LIFECYCLE STATUS

? quantify this without a significant engineering study. LifecycleStatus ? ? ? Active ACTIVE ? ?

? InactiveINACTIVE ? ? This is a very large tract on par with RiverLights in the southern area of the County. The ? ? ProposedPROPOSED developer of that tract, Newland Communities, expended significant investment in planning ?

Water Mains ? WATER MAINS and construction of offsite utility improvements for capacity to support its development Q3 Water Trearment Plants ? ? WATER TREATMENT PLANTS which is what we expect when the Hilton Tract is developed. Major Roads ??

Roads MAJOR ROADS ? ? ? ROADS

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NE Cape ? ? ?

Fear ?

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River ? ? ?

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? 1 inch = 2,000 feet Hilton Properties ± EXECUTIVE SUMMARY / PROPERTY INFO / LOCATION OVERVIEW

PROPERTY PHOTOS

6 EXECUTIVE SUMMARY / PROPERTY INFO / LOCATION OVERVIEW

PROPERTY PHOTOS

7 EXECUTIVE SUMMARY / PROPERTY INFO / LOCATION OVERVIEW

03 LOCATION OVERVIEW 8 EXECUTIVE SUMMARY / PROPERTY INFO / LOCATION OVERVIEW

Piney Wood Burgaww LOCATION OVERVIEWAtkinsonon ST53 StagStS ag Park ST50 MAP St Helena ST210 Holly Ridge ST53 40 Kelly Colly Currierie EdgecombEdE geccombec e Montague West Onslow Beach 87 210 Rocky Point ST Zara ST SurfSuS rrffCf CCityity ST11 HILTON BLUFFS MooretowMooretowo n ON THE CAPE FEAR TopsailToTTopopsail East Arcadia Hampsteadead CastleCCaastleassttl HaynHaynee Topsail Beach Skippers Corner Riegelwood Hooper Hill Bolton NorthwesNNorNorthwthwesstt SITE Sandy Creek WrightsborWrightWrigWrWrightsbightssbbooro OgdenOgO Kings Grant Prosper Eliahh Leland 140 Seagate Spring Hill Honey Island MasonborMasMaMassonoonboro Atlantic Ocean ST133 Myrtle Grove

ST87

ST211 Mill Creek

Bolivia 9

Prospect Boiling Spring Lakes Carolina Beach Sunnynnyy PoPointintn MilitaryMMilitary OceanOcceaan TerminalTeTerrminal KureKKureB Beaceach

Shallotte Smith EXECUTIVE SUMMARY / PROPERTY INFO / LOCATION OVERVIEW

LOCATION OVERVIEW AMENITY AERIAL

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IVER R R A E E F AP ST C EA TH OR N

CASTLE HAYNE ELEMENTARY SCHOOL HOLLY SHELTER NOR MIDDLE SCHOOL TH C 421 OLLEG

E R O

AD CAPE FEAR COMMUNITY COLLEGE DISTANCE TO (MILES)

Wilmington International Airport 8.7 miles 140 140 Downtown Wilmington 11 miles Wrightsville Beach 17 miles 18 miles TRASK MIDDLE SCHOOL MURRAYVILLE Bald Head Island 43 miles LANEY HIGH ELEMENTARY 140 SCHOOL WRIGHTSBORO SCHOOL BUS Holden Beach 44 miles ELEMENTARY 40 17 SCHOOL Myrtle Beach 83 miles

Raleigh 125 miles WILMINGTON INTERNATIONAL AIRPORT

10 EXECUTIVE SUMMARY / PROPERTY INFO / LOCATION OVERVIEW

LOCATION OVERVIEW RESIDENTIAL MARKET 2020 & The Wilmington residential home sales market continues to see an increasing 2020 & demand in virtually every price point under $1 million. Due to great fundamentals, the attractiveness of the area, low interest rates and a robust 20212021 population growth, the Wilmington market continues to grow and be favoured by in-migration, out of town investors and second home buyers. THE SOUTH’S Drilling down on the residential market, the market has become very BEST CITIES competitive with homes often selling well over their asking price. Per SOUTHERN LIVING MAGAZINE MetroStudy, in February 2021 median resale home prices had increased by 14% to $323,900 versus where they were in February 2020. During the same time period, median new home prices increased by 3.3% to $313,900. Like many other markets across North Carolina, there’s currently an ongoing demand for vacant developed lots, which there is a lack of supply for. The lot scarcity has been magnified in recent quarters by the in-migration of North Carolinas as well as those living in the northern states whom are coming down and looking to buy in the Carolina coasts. Due to the increasing demand for residential housing, we are seeing more and more developers making speculative land purchases and acquisitions for future development. According to the United Van Line’s latest National Migration Study, which tracks state-to-state migration patterns, Wilmington ranked the #1 of 25 metro area for inbound moves. Both local and out of state buyers continue their aggressive search for homes throughout the Wilmington market, with no sign of slowing down in the near future.

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Source: CoStar EXECUTIVE SUMMARY / PROPERTY INFO / LOCATION OVERVIEW

LOCATION OVERVIEW WILMINGTON | THE EPITOME OF THE NEW SOUTH

Wilmington is situated along NC’s southeastern coast, nestled between the Atlantic ACCOLADES Ocean and to its east and the Cape Fear River to its west, MAJOR EMPLOYERS making for beautiful ocean sunrises and river sunsets. The Port City area is well THE SOUTH’S • PPD positioned minutes away from access to many pristine beaches, inclusive of Topsail BEST CITIES ON • New Hanover Island, Figure Eight Island, Wrightsville Beach, Carolina Beach, Kure Beach, Bald Head THE RISE Regional Medical SOUTHERN LIVING, Island and five Brunswick County beaches. More than 50 diverse attractions from the 2021 Center river to sea include the Battleship North Carolina, the North Carolina Aquarium at Fort • Liberty Healthcare Fisher, Fort Fisher State Historic Site & Civil War Museum, the Cameron Art Museum, AFFORDABLE Management historic mansions, state parks, and famous gardens highlighted at the Azalea Festival ADVENTURE TRIPS • UNC Wilmington each year. IN NORTH AMERICA • Guilford Mills Credit OUTSIDE MAGAZINE, Union 2020 Wilmington is led by a dynamic, engaged business community with a diversified • Alcami economy. Top area industries include healthcare, telecommunications, education, and • Port City Java tourism. New Hanover Regional Medical Center contributes over $1 billion annually to TRAVELERS’ • Chemtex the local economy. As New Hanover County’s’ largest employer with over 7,000 CHOICE TOP • General Electric employees, 740 physicians on medical staff, and over 700 active volunteers, Novant DESTINATIONS • Atlantic Corporation TRIPADVISOR, 2018 Healthcare and UNC Hospitals recently acquired NHRMC and have significant capital • MegaCorp Live Oak Bank investment planned to expand services throughout the region. • • nCINO Port of Wilmington is a deep water sea port that is within 700 miles of 70% of the US AMERICA’S COOLEST industrial base and plays a large role in the North Carolina Port system that contributes SMALL TOWNS CENTERS FOR JETSETTER MAGAZINE, $15.4 billion to the states economy every year. 2020 EDUCATION • UNC Wilmington FUN IN THE SUN • 17K students • Cape Fear Community The Cape Fear Region has long been recognized as a top tourism attraction in NC. AMERICA’S 10 BEST College With easy access to numerous beaches and over 150 festivals and events a year, it is RIVERFRONT US TODAY, 2020 • 23K students no surprise tourism is among the regions fastest growing industries, accounting for billions of dollars into the local economy and thousands of jobs.

12 EXECUTIVE SUMMARY / PROPERTY INFO / LOCATION OVERVIEW

LOCATION OVERVIEW

DEMOGRAPHICS 3 MILE 5 MILE 7 MILE 10 MILE 3 MILE 5 MILE 7 MILE 10 MILE 2020 ESTIMATED POPULATION 6,868 19, 318 44,366 171,001 2025 PROJECTED POPULATION 7,222 20,107 46,487 183,376

2020 ESTIMATED HOUSEHOLDS 2,656 7, 574 18,001 74,517 2025 PROJECTED HOUSEHOLDS 2,831 7,96 5 19 ,116 79,544 AVERAGE HH INCOME $58,725 $61,597 $61,554 $66,787 MEDIAN HH INCOME $57,097 $ 57,182 $58,108 $59,712

2020 TOTAL BUSINESSES 169 954 1,952 8,991 2020 TOTAL EMPLOYEES 1,418 9.793 23,137 64,934

13 KARL HUDSON IV, CCIM Partner, Land Services Foundry Commercial (919) 987 1012 [email protected]

WILL GREENE Managing Partner W.M. Greene, Inc. 919.604.9084 [email protected]

This opinion is not an appraisal of the market value of the property, and may not be used in lieu of an appraisal. If an appraisal is desired, the services of a licensed or certified appraiser shall be obtained. This opinion may not be used by any party as the primary basis to determine the value of a parcel or of interest in real property for a mortgage, including first and second mortgages, refinances, or equity lines of credit. The information used in this opinion has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the future performance of the property.