Deal Analysis 5: Adams House - Atlanta, GA

328 Units Total Across 2 Phases

• 1890 House on Myrtle Street - 176 Units

• Adams House on Campbellton Road - 152 Units

WHY WE LIKE THIS DEAL

Offering snapshot:

Our Ideal Criteria: We never recommend a deal that we aren’t investing in ourselves. We invest alongside our partners. As stewards of your capital, we’re primarily looking at the following criteria when vetting properties to see if they would be a good fit for our investors; Projected Returns (6 Year Hold): 12.7% Avg Cash-on-Cash with a 8% preferred return 125%+ Total Return 18% IRR Investment Highlights: Strong sub-market fundamentals: Phase 1 of a $500M mixed-use project is scheduled t open in 2024/2025 and will be located NW of Int’l Airport, which coupled with the continuous expansion of the Airport and the manufacturing base in SW Atlanta, will generate over 450k new jobs. The Tax Allocation District, which establishes new development opportunities along Smart Transit Corridor for the purpose of linking downtown with the SW neighborhoods, will bring thousands of new well-paid jobs as well.Southwest Atlanta residents enjoy a cost of living that is 96.8% of the national avg., while their avg. income continues to trend up at 4%. Solid Demographics: Southwest Atlanta residents enjoy a cost of living that is 96.8% of the national avg., while their avg. income continues to trend up at 4%. As of Q2 2021, the submarket enjoyed 9% annual rent growth and 10% annual revenue growth, which provides support for improvements and rent growth at the property Very Attractive Entry Point: Property acquired at less than $99K p/door; most comps are trading at 30% above our PP. For example, Vesta Adams Park located just around the corner from Adams House is trading at $140k p/door. Value Add and Repositioning Strategy: Major growth in the manufacturing, industrial, and business markets, combined with avg. population growth allows us the opportunity the opportunity to reposition our tenant base Planned improvements of over $1.5 million, which will be utilized to upgrade 250 units and improve curb appeal to enhance the tenant base. These tactics will form our core strategy to reposition and increase revenues at the property. Cost Segregation Benefits: Cost segregation will enable 2021 depreciation benefits to LPs of over 100%, because of our private equity partner inability to use the depreciation benefit. Location, Location, Location: The property has easy access to major freeways and is only six miles from downtown Atlanta and seven miles from Hartsfield- Jackson Airport.

KEY DEAL POINTS

Investment profile VALUE ADD + HYBRID	Sponsor experience HYBRID	Property type Multi-Family
IRR 18.0%*	Equity Multiple 2.25x*	Cash Yield 8.0%*
Investment Period 6 years	Cost Segregation Bonus Depreciation	Offers Due coming soon

* Asterisk denotes a targeted metric (click to learn more). All targeted returns are stated in net-to-investor terms (i.e. net of fees and promote), provided by the sponsor, and subject to change.