Investment Description

The Property is located on approximately 12.73 acres of land and consists of 286 one-, two- and three-bedroom apartments, contained within twenty one- to three-story residential buildings comprising approximately 273,060 net rentable square feet and three common area buildings consisting of a single-story leasing office, single-story fitness center and a single-story dog wash/garage building (collectively, the “Property”). Property amenities include a leasing office, clubhouse, fitness center, business center, media room, billiards, a resort-style pool and spa, dog washing station, dog park with obstacle course, barbeque stations, playground, bocce ball court, garage parking, and controlled vehicle access gates.

Business Plan

The principal objectives of the Trust are to (1) distribute to the Investors annual cash flows, as described in the Financial Forecast attached as Exhibit E to this Memorandum, (2) manage the Property in a manner consistent with prudent real estate management in order to maintain the Property’s long-term value and, (3) sell the Property prior to the Maturity Date of the Loan (i.e. October 1, 2034). There can be no assurance that any of these objectives will be achieved. This Memorandum should be read in its entirety before making an investment decision.