OLD SOUTH APARTMENTS 5137 EAST 47TH STREET TULSA, OK SVN OAK Realty Advisors 9321 South Toledo Ave, Tulsa, OK OFFERING MEMORANDUM

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1 OLD SOUTH APARTMENTS 5137 EAST 47TH STREET TULSA, OK SVN OAK Realty Advisors 9321 South Toledo Ave, Tulsa, OK OFFERING MEMORANDUM

2 PROPERTY INFORMATION 3 Executive Summary Property Description Property Details Complete Highlights Additional Photos LOCATION INFORMATION 9 Regional Map Location Maps Aerial Map Site Plan FINANCIAL ANALYSIS 14 Financial Summary Income & Expenses Rent Roll Unit Mix Summary SALE COMPARABLES 20 Sale Comps Sale Comps Summary Sale Comps Map RENT COMPARABLES 27 Rent Comps Rent Comps Summary Rent Comps Map Demographics Map ADVISOR BIOS 33 Advisor Bio & Contact 1 Advisor Bio & Contact 2 SVN OAK Realty Advisors 9321 South Toledo Ave, Tulsa, OK OFFERING MEMORANDUM

3 FOR SALE MULTIFAMILY EXCELLENT MULTIFAMILY INVESTMENT OPPORTUNITY 5137 East 47th Street 1 PROPERTY INFORMATION 1 PROPERTY INFORMATION 5137 East 47th Street OLD SOUTH APARTMENTS 5137 EAST 47TH STREET TULSA, OK SVN OAK Realty Advisors Page 3 All SVN Offices Independently Owned and Operated The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

4 Executive Summary OFFERING SUMMARY Sale Price: $2,150,000 Number Of Units: 58 Cap Rate: 8.34% NOI: $179,407 Lot Size: 2.38 Acres Year Built: 1967 Building Size: 49,362 Renovated: 2016 Zoning: Market: Submarket: RS-3 Tulsa Mid-Town Price / SF: $43.56 PROPERTY OVERVIEWVIEW SVN OAK Realty Advisers is pleased to offer Old South Apartments. This 58 unit apartment community has undergone significant capital improvements over the past two years allowing an investor to take advantage of the stable occupancy and improving market performance in the area. The property is well located and has an assumable Freddie Mac Non Recourse Loan at a low interest rate fixed for an additional eight years. PROPERTY HIGHLIGHTS Excellent Investment Property Well Located Significant Capital Improvements Strong Occupancy Great Upside Potential with Unit Improvements Can Place New Debt Next to YMCA with 22 Million Renovation Desirable Midtown Locatoin OLD SOUTH APARTMENTS 5137 EAST 47TH STREET TULSA, OK SVN OAK Realty Advisors Page 4

5 Property Description PROPERTY OVERVIEWVIEW SVN OAK Realty Advisers is pleased to offer Old South Apartments. This 58 unit apartment community has undergone significant capital improvements over the past two years allowing an investor to take advantage of the stable occupancy and improving market performance in the area. The property is well located and has an assumable Freddie Mac Non Recourse Loan at a low interest rate fixed for an additional eight years. LOCATION OVERVIEWVIEW Located in Tulsa OK which is the second largest city in Oklahoma. Old South is centrally located just South of I-44 and East of Yale. The property is less than one mile from the Lafortune Park which has two 18 hole public golf courses 34 public tennis courts eight baseball diamonds and miles of biking and jogging trails. It's also less than 1/2 mile from the New main YMCA which has undergone a significant renovation which is in excess of $14.0MM with an indoor and outdoor swimming pools, 20 basketball courts, 12 raquetball courts and four fitness rooms which is also open to the public. The property is close to shopping centers, malls and grocery stores and is about a mile from Tulsa's Oklahoma University Campus which has multiple four year degrees offered for it's students. Downtown Tulsa is five miles and Tulsa International Airport is a 10 minute drive in I-44 to US 169. Additionally the property is located to the new The Tandy Family YMCA Healthy Living Center is a YMCA for the next generation. More than 110,000 square feet dedicated to the pursuit of healthy living and community building opened in early 2017; this state-of-the-art facility is built on the grounds of the 50-year old Thornton Family YMCA, one of the anchors of midtown Tulsa. Adjacent to the property is LaFortune Park is over 270 acres tucked in midtown Tulsa. It is the only County Park within the Tulsa City limits. The park has as golf, baseball, tennis, a 5k trail, pool, playgrounds, picnic tables, shelters, fishing and a community center. Overall Old South is very centrally located. OLD SOUTH APARTMENTS 5137 EAST 47TH STREET TULSA, OK SVN OAK Realty Advisors Page 5

6 Property Details SALE PRICE $2,150, LOCATION INFORMATION Building Name Old South Apartments Street Address 5137 East 47th Street City, State, Zip County/Township Tulsa Market Tulsa Submarket Mid-Town Cross Streets 51st & Yale Side Of Street North Road Type Paved Market Type Large Nearest Highway I-44 (US 66) Nearest Airport Tulsa International Airport (TUL) PROPERTY DETAILS Property Type Property Subtype Zoning Lot Size Multifamily Low-Rise/Garden RS Acres APN# Submarket PARKING & TRANSPORTATIONTION Parking Price Per Month Parking Type Parking Ratio Number Of Spaces Parking Description Mid-Town Open asphalt parking lot which was replaced with a new 2" overlay in There are 86 parking BUILDING INFORMATION Building Size 49,362 SF Occupancy % 96.0 Number Of Floors 2 Average Floor Size 24,181 SF Year Built 1967 Last Renovated 2016 Gross Leasable Area 49,362 SF Construction Status Existing Framing Wood Frame UTILITIES & AMENITIES Handicap Access Number Of Elevators Number Of Escalators Central HVAC Broadband Yes 0 0 Central Boiler & Chiller System (new) Cable OLD SOUTH APARTMENTS 5137 EAST 47TH STREET TULSA, OK SVN OAK Realty Advisors Page 6

7 Complete Highlights SALE HIGHLIGHTS Excellent Investment Property Well Located Significant Capital Improvements Strong Occupancy Great Upside Potential with Unit Improvements Can Place New Debt Next to YMCA with 14 Million Renovation Desirable Midtown Location OLD SOUTH APARTMENTS 5137 EAST 47TH STREET TULSA, OK SVN OAK Realty Advisors Page 7

8 Additional Photos OLD SOUTH APARTMENTS 5137 EAST 47TH STREET TULSA, OK SVN OAK Realty Advisors Page 8

9 FOR SALE MULTIFAMILY EXCELLENT MULTIFAMILY INVESTMENT OPPORTUNITY 5137 East 47th Street 2 LOCATION INFORMATION 2 LOCATION INFORMATION 5137 East 47th Street OLD SOUTH APARTMENTS 5137 EAST 47TH STREET TULSA, OK SVN OAK Realty Advisors Page 9 All SVN Offices Independently Owned and Operated The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

10 Regional Map Old South Apartments OLD SOUTH APARTMENTS 5137 EAST 47TH STREET TULSA, OK SVN OAK Realty Advisors Page 10

11 Location Maps OLD SOUTH APARTMENTS 5137 EAST 47TH STREET TULSA, OK SVN OAK Realty Advisors Page 11

12 Aerial Map Old South Apartments OLD SOUTH APARTMENTS 5137 EAST 47TH STREET TULSA, OK SVN OAK Realty Advisors Page 12

13 Site Plan OLD SOUTH APARTMENTS 5137 EAST 47TH STREET TULSA, OK SVN OAK Realty Advisors Page 13

14 FOR SALE MULTIFAMILY EXCELLENT MULTIFAMILY INVESTMENT OPPORTUNITY 5137 East 47th Street 3 FINANCIAL ANALYSIS 3 FINANCIAL ANALYSIS 5137 East 47th Street OLD SOUTH APARTMENTS 5137 EAST 47TH STREET TULSA, OK SVN OAK Realty Advisors Page 14 All SVN Offices Independently Owned and Operated The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

15 Financial Summary INVESTMENT OVERVIEWVIEW Price $2,150,000 Price per Unit $37,068 GRM 5.6 CAP Rate 8.3% Cash-on-Cash Return (yr 1) % Total Return (yr 1) $101,441 Debt Coverage Ratio 1.76 OPERATING DATA Gross Scheduled Income $386,430 Other Income $27,193 Total Scheduled Income $413,623 Vacancy Cost $59,489 Gross Income $354,134 Operating Expenses $174,236 Net Operating Income $179,407 Pre-Tax Cash Flow $77,418 FINANCING DATA Down Payment $550,000 Loan Amount $1,600,000 Debt Service $101,989 Debt Service Monthly $8,499 Principal Reduction (yr 1) $24,023 OLD SOUTH APARTMENTS 5137 EAST 47TH STREET TULSA, OK SVN OAK Realty Advisors Page 15

16 Income & Expenses INCOME SUMMARY PER SF Gross Potential Income $386,430 $7.83 Less Vacancy & Bad Debt -$59,490 -$1.21 Laundry Income $6,819 $0.14 Other Income $18,580 $0.38 Misc Other Income $1,795 $0.04 Gross Income $354,134 $7.17 EXPENSE SUMMARY PER SF Advertising $519 $0.01 Insurance $24,540 $0.50 Landscaping $2,180 $0.04 Legal & Professional $2,298 $0.05 License & Permits $405 $0.01 Boiler & Chiller $855 $0.02 Maintenance $100 $0.00 Maintenance Supplies $11,198 $0.23 Unit Turn / Make Ready $18,720 $0.38 Office Supplies $310 $0.01 Expense "other" $2,294 $0.05 Resident Activities $647 $0.01 Payroll $43,318 $0.88 Contractor $3,193 $0.06 Security $749 $0.02 Pool $2,326 $0.05 Utilities $39,640 $0.80 Taxes $20,944 $0.42 OLD SOUTH APARTMENTS 5137 EAST 47TH STREET TULSA, OK SVN OAK Realty Advisors Page 16

17 Income & Expenses INCOME SUMMARY Gross Expenses $174,236 $3.53 PER SF Net t Operating Income $179,407 $3.63 OLD SOUTH APARTMENTS 5137 EAST 47TH STREET TULSA, OK SVN OAK Realty Advisors Page 17

18 Rent Roll UNIT CURRENT MARKET UNIT UNIT UNIT SIZE LEASE LEASE LEASE RENT (PER MARKET RENT/ SECURITY CURRENT RECOVERY NUMBER BED BATH (SF) START END START SF) RENT SF DEPOSIT RENT TYPE COMMENTS /13/ /31/2017 Current $0.80 $679 $0.80 $200 $ /28/2016 7/31/2017 Current $0.76 $649 $0.76 $200 $ /8/2016 7/31/2017 Current $0.80 $679 $0.80 $200 $ /24/ /28/ 2017 Current $0.76 $649 $0.76 $200 $ /29/ /31/2017 Current $0.76 $649 $0.76 $200 $ /09/ /31/2017 Current $0.76 $649 $0.76 $200 $ /30/ /30/2017 Current $0.74 $649 $0.76 $225 $ /04/ /30/2017 Current $0.76 $649 $0.76 $200 $ /20/ /31/2018 Current $0.80 $679 $0.80 $200 $ /06/ /20/ /31/2017 Current $0.74 $649 $0.76 $200 $629 1/31/2018 Current $0.74 $679 $0.80 $150 $ /12/ /15/ /28/ /30/ 2017 Current $0.76 $649 $0.76 $200 $649 Current $0.76 $649 $0.76 $0 $ /04/ 05/31/ Current $0.76 $649 $0.76 $200 $649 OLD SOUTH APARTMENTS 5137 EAST 47TH STREET TULSA, OK SVN OAK Realty Advisors Page 18

19 Unit Mix Summary UNIT TYPE COUNT % TOTAL SIZE (SF) RENT RENT/SF MARKET RENT MARKET RENT/SF DEPOSIT Junior $500 $0.96 $550 $1.06 $ $575 $0.85 $575 $0.85 $ $659 $0.73 $695 $0.77 $ (L) $659 $0.70 $695 $0.74 $ $897 $69.00 $925 $71.15 $400 Totals/Averages % 47,919 $37,125 $0.77 $38,715 $0.81 $19,550 OLD SOUTH APARTMENTS 5137 EAST 47TH STREET TULSA, OK SVN OAK Realty Advisors Page 19

20 FOR SALE MULTIFAMILY EXCELLENT MULTIFAMILY INVESTMENT OPPORTUNITY 5137 East 47th Street 4 SALE COMPARABLES 4 SALE COMPARABLES 5137 East 47th Street OLD SOUTH APARTMENTS 5137 EAST 47TH STREET TULSA, OK SVN OAK Realty Advisors Page 20 All SVN Offices Independently Owned and Operated The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

21 Sale Comps SUBJECT PROPERTY 5137 East 47th Street Sale Price: Year Built: $2,150, Lot Size: Building SF: Price PSF: $43.56 No. Units: AC Price / Unit: $37,069 GRM: ,362 SF Cap: 8.34% NOI: $179, HIGHLAND PARK AKA CHARLESTON PLACE 5555 East 47th Street Sale Price: Year Built: $4,900, Lot Size: Building SF: Price PSF: $47.34 No. Units: AC 103,500 SF Price / Unit: $35,507 CAP: 7.68% Closed: 11/17/2016 Occupancy: 93% GRM: 5.34 NOI: $376,000 CITY GARDENS 3200 South Hudson Avenue Sale Price: Year Built: $5,092, Lot Size: Building SF: 5.5 AC Price PSF: $44.28 No. Units: ,000 SF Price / Unit: $37,718 CAP: 7.64% Closed: 05/01/2016 Occupancy: 92% GRM: 4.87 NOI: $ OLD SOUTH APARTMENTS 5137 EAST 47TH STREET TULSA, OK SVN OAK Realty Advisors Page 21

22 Sale Comps SOUTHERN HILLS VILLAS 6609 South Lewis Tulsa, OK Sale Price: Year Built: $4,000, Lot Size: Building SF: Price PSF: $53.89 No. Units: AC 74,227 SF Price / Unit: $37,383 CAP: 7.75% Closed: 03/15/2017 Occupancy: 94% GRM: 5.83 NOI: $309 WILLOWBEND WBEND APARTMENTS 3038 South 101st Tulsa, OK Sale Price: Year Built: $4,050, Lot Size: Building SF: Price PSF: $43.03 No. Units: AC 94,122 SF Price / Unit: $30,681 CAP: 7.95% Closed: 03/31/2017 Occupancy: 96% GRM: 4.95 NOI: $321 RED FOX APARTMENTS 8120 East 16th Street Tulsa, OK Sale Price: Year Built: $2,870, Lot Size: Building SF: Price PSF: $53.41 No. Units: AC 53,736 SF Price / Unit: $34,166 CAP: 8.14% Closed: 06/30/2016 Occupancy: 93% GRM: 5.34 NOI: $232, OLD SOUTH APARTMENTS 5137 EAST 47TH STREET TULSA, OK SVN OAK Realty Advisors Page 22

23 Sale Comps 6 7 BRADFORD CREEK 3167 South 108th East Avenue Tulsa, OK Sale Price: Year Built: $5,200, Lot Size: Building SF: 7.72 AC Price PSF: $45.63 No. Units: ,968 SF Price / Unit: $38,236 CAP: 7.91% Closed: 10/07/2016 Occupancy: 91% GRM: 4.94 NOI: $411 RIDGEVIEW APARTMENTS 701 South 101st East Avenue Tulsa, OK Sale Price: Year Built: $5,495, Lot Size: Building SF: 5.7 AC Price PSF: $41.10 No. Units: 153 Price / Unit: $35,915 CAP: 8% 133,701 SF Closed: 08/17/2016 Occupancy: 96% GRM: 5.15 NOI: $439, OLD SOUTH APARTMENTS 5137 EAST 47TH STREET TULSA, OK SVN OAK Realty Advisors Page 23

24 Sale Comps Summary SUBJECT PROPERTY PRICE BLDG SF PRICE/SF PRICE/UNIT CAP GRM # OF UNITS Old South Apartmentsts 5137 East 47th Street SALE COMPS Highland Park aka a Charleston Place 5555 East 47th Street City Gardens 3200 South Hudson Avenue Southern Hills Villas 6609 South Lewis Tulsa, OK Willowbend Apartmentsts 3038 South 101st Tulsa, OK Red Fox Apartmentsts 8120 East 16th Street Tulsa, OK Bradford Creek 3167 South 108th East Avenue Tulsa, OK $2,150,000 49,362 SF $43.56 $37, % PRICE BLDG SF PRICE/SF PRICE/UNIT CAP GRM # OF UNITS CLOSE $4,900, ,500 SF $47.34 $35, % /17/2016 $5,092, ,000 SF $44.28 $37, % /01/2016 $4,000,000 74,227 SF $53.89 $37, % /15/2017 $4,050,000 94,122 SF $43.03 $30, % /31/2017 $2,870,000 53,736 SF $53.41 $34, % /30/2016 $5,200, ,968 SF $45.63 $38, % /07/2016 OLD SOUTH APARTMENTS 5137 EAST 47TH STREET TULSA, OK SVN OAK Realty Advisors Page 24

25 Sale Comps Summary SUBJECT PROPERTY PRICE BLDG SF PRICE/SF PRICE/UNIT CAP GRM # OF UNITS 7 Ridgeview Apartmentsts 701 South 101st East Avenue Tulsa, OK $5,495, ,701 SF $41.10 $35, % /17/2016 PRICE BLDG SF PRICE/SF PRICE/UNIT Totals/Averages $4,515,300 98,322 SF $45.92 $35, % CAP GRM # OF UNITS CLOSE OLD SOUTH APARTMENTS 5137 EAST 47TH STREET TULSA, OK SVN OAK Realty Advisors Page 25

26 Sale Comps Map SUBJECT PROPERTY 5137 East 47th Street 1 HIGHLAND PARK AKA CHARLESTON PLACE 5555 East 47th Street CITY GARDENS South Hudson Avenue SOUTHERN HILLS VILLAS South Lewis Tulsa, OK WILLOWBEND WBEND APARTMENTS South 101st Tulsa, OK RED FOX APARTMENTS East 16th Street BRADFORD CREEK South 108th East Avenue RIDGEVIEW APARTMENTS South 101st East Avenue Tulsa, OK Tulsa, OK Tulsa, OK OLD SOUTH APARTMENTS 5137 EAST 47TH STREET TULSA, OK SVN OAK Realty Advisors Page 26

27 FOR SALE MULTIFAMILY EXCELLENT MULTIFAMILY INVESTMENT OPPORTUNITY 5137 East 47th Street 5 RENT COMPARABLES 5 RENT COMPARABLES 5137 East 47th Street OLD SOUTH APARTMENTS 5137 EAST 47TH STREET TULSA, OK SVN OAK Realty Advisors Page 27 All SVN Offices Independently Owned and Operated The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

28 Rent Comps SUBJECT PROPERTY 5137 East 47th Street Year Built: 1967 Lot Size: 2.38 AC No. Units: 58 Avg. Rent/SF: $0.77 Avg. Size: 826 SF Avg. Rent: $640 1 BRIXTON SQUARE 4655 South Darlington Avenue Year Built: 1970 Bldg Size: Lot Size: 2.56 AC No. Units: 96 59,520 SF Avg. Size: 638 SF Occupancy: 95% Avg. Rent/SF: $0.76 Avg. Rent: $483 1 Common Area Amenities Laundry Facilities 2 BRIGHTON PARK 4837 South Darlington Avenue Year Built: 1974 Bldg Size: 88 SF Lot Size: 3.65 AC No. Units: 120 Avg. Size: 740 SF Occupancy: 96% Avg. Rent/SF: $0.74 Avg. Rent: $550 2 Common Area Amenities Community Room OLD SOUTH APARTMENTS 5137 EAST 47TH STREET TULSA, OK SVN OAK Realty Advisors Page 28

29 Rent Comps 3 STRATFORD HOUSE 4111 East 51st Street Year Built: 1963 Bldg Size: Lot Size: 4.09 AC No. Units: ,150 SF Avg. Size: 883 SF Occupancy: 96% Avg. Rent/SF: $0.93 Avg. Rent: $ EXECUTIVE SERIES 3225 South Winston Year Built: 1970 Bldg Size: Lot Size: 4.23 AC No. Units: ,170 SF Avg. Size: 655 SF Occupancy: 94.6% Avg. Rent/SF: $0.95 Avg. Rent: $621 4 One Laundry Facilities, 1 Swimming Pool, Rental Office, Total Parking Spaces, Parking Type - Grade Level, Private Balcony/Patio, Construction Type - Masonry, Internet Access, Partial 5 EVERGREEN APARTMENTS 8314 East 25th Place Tulsa, OK Year Built: 1970 Bldg Size: Lot Size: 7.45 AC No. Units: ,327 SF Avg. Size: 752 SF Occupancy: 93.8% Avg. Rent/SF: $0.85 Avg. Rent: $637 5 Two Laundry Facilities, Playground, 2 Swimming Pools, Rental Office - Stand Alone, Total Parking Spaces, Parking Type - Grade Level, Private Balcony/Patio, Construction Type - Frame, OLD SOUTH APARTMENTS 5137 EAST 47TH STREET TULSA, OK SVN OAK Realty Advisors Page 29

30 Rent Comps Summary SUBJECT PROPERTY RENT/SF AVAILABLE AILABLE SF BLDG SF # OF UNITS OCCUPANCY % Old South Apartmentsts 5137 East 47th Street $0.77 SF 49,362 SF % RENT COMPS RENT/SF AVAILABLE AILABLE SF BLDG SF # OF UNITS OCCUPANCY % Brixton Square 4655 South Darlington Avenue Brighton Park 4837 South Darlington Avenue Stratford House 4111 East 51st Street Executive e Series 3225 South Winston Evergreen Apartmentsts 8314 East 25th Place Tulsa, OK $ ,260 SF 59,520 SF 96 $0 $ ,800 SF 88 SF 120 $0 $ ,150 SF 90,150 SF 102 $0 $ ,168 SF 87,170 SF 133 $0 $ ,381 SF 190,327 SF 253 $0 RENT/SF AVAILABLE AILABLE SF BLDG SF # OF UNITS OCCUPANCY % Totals/Averages $ ,552 SF 85,451 SF % OLD SOUTH APARTMENTS 5137 EAST 47TH STREET TULSA, OK SVN OAK Realty Advisors Page 30

31 Rent Comps Map SUBJECT PROPERTY 5137 East 47th Street BRIXTON SQUARE South Darlington Avenue BRIGHTON PARK South Darlington Avenue STRATFORD HOUSE East 51st Street EXECUTIVE SERIES South Winston EVERGREEN APARTMENTS East 25th Place Tulsa, OK OLD SOUTH APARTMENTS 5137 EAST 47TH STREET TULSA, OK SVN OAK Realty Advisors Page 31

32 Demographics Map POPULATION 1 MILE 3 MILES 5 MILES Total population 10,957 90, ,337 Median age Median age (male) Median age (Female) HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES Total households 4,883 41, ,874 # of persons per HH Average HH income $56,974 $67,580 $64,601 Average house value $157,747 $201,101 $200,655 * Demographic data derived from 2010 US Census OLD SOUTH APARTMENTS 5137 EAST 47TH STREET TULSA, OK SVN OAK Realty Advisors Page 32

33 FOR SALE MULTIFAMILY EXCELLENT MULTIFAMILY INVESTMENT OPPORTUNITY 5137 East 47th Street 6 ADVISOR BIOS 6 ADVISOR BIOS 5137 East 47th Street OLD SOUTH APARTMENTS 5137 EAST 47TH STREET TULSA, OK SVN OAK Realty Advisors Page 33 All SVN Offices Independently Owned and Operated The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

34 Advisor Bio & Contact 1 RAYMOND LORD Managing Director PROFESSIONAL BACKGROUND As an apartment specialist with SVN OAK Realty Advisors, in Oklahoma, Kansas and Arkansas, Raymond s primarily focus on multi-family properties since 1987 and their dispositions for banks, private clients as well as Institutional Investors. In addition he has an extensive background in the disposition of assets for FNMA, FDIC and in the past the RTC and various institutional investors, and banking assignments throughout the Midwest and Southwest region of the U.S. His forte is financial analysis of investments and effective marketing of assets both regionally and nationally. Raymond has transacted over $2.5 billion of transactions, including investment sales, joint ventures, redevelopment and recapitalization advisory assignments. SVN OAK Realty Advisors Tulsa OK Managing Director 2016 NAI Commercial Properties Tulsa OK Principal 2000 to 2016 Commercial Real Estate Tulsa OK Investment 1997 to 2000 The Lyon Group Management CA President American Village on the Lake 464 Units Tulsa OK Redfern Portfolio 1,465 Units Tulsa OK Woodlake Apartments 799 Units OKC OK One Western & Quail Ridge 150,000 SF Office OKC Brookline Office Complex 74,000 SF OKC Modern Bindery Industrial 100,000 SF Tulsa OK 9321 South Toledo Ave Tulsa, OK T C rlord@svn.com Macco Properties 1,541 units OKC OK Cobblestone 482 Units Tulsa OK Case & Associates 585 Units Phoenix American Residential 324 Units Tulsa OK Real Source 284 & 544 Tulsa / OKC Sterling American 682 Unit Tulsa OK EDUCATION Northrop School of Law, Los Angeles, CA, Juris Doctorate University of Florida, Gainesville, FL, BA Finance MEMBERSHIPS & AFFILIATIONS Multifamily Dispositions/Acquisitions ; Property Repositioning ; Court Appointed Approved Receiver Licensed Real Estate Broker, Oklahoma SVN OAK Realty Advisor's National Association of Realtors OLD SOUTH APARTMENTS 5137 EAST 47TH STREET TULSA, OK SVN OAK Realty Advisors Page 34

35 Advisor Bio & Contact 2 BENJAMIN DAVIS Managing Director PROFESSIONAL BACKGROUND Ben is a Principal and Managing Director at SVN OAK Realty Advisors and has over 10 years of experience specializing in the marketing and sale of multifamily properties in the region. Since he began his career in 2006, he has been involved in the sale of over $400 million commercial real estate transactions and has proven himself to consistently be one of the top multifamily brokers in the region. EDUCATION Ben is a graduate of the University of Oklahoma with a Bachelors of Arts and Science South Toledo Ave Tulsa, OK T C bdavis@svn.com OLD SOUTH APARTMENTS 5137 EAST 47TH STREET TULSA, OK SVN OAK Realty Advisors Page 35