Portland, Oregon SUMMARY FLYER

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1 74-UNIT APARTMENT COMMUNITY Portland, Oregon SUMMARY FLYER

2 KIDDER MATHEWS BEVERLY GROVE 2

3 EXECUTIVE SUMMARY Section 1 The Offering Investment Highlights Market Overview OFFERING MEMORANDUM KIDDER MATHEWS 3

4 EXECUTIVE SUMMARY ADDRESS 1820 NE 104th Avenue, Portland, OR NO. OF UNITS 74 NO. OF BUILDINGS 9 RENTABLE SQUARE FEET 68,630 SF TOTAL SQUARE FEET 70,006 SF AVERAGE UNIT SIZE 927 SF The Offering The Beverly Grove Apartments are centrally located in Portland s Gateway neighborhood. Built in 1969, the property has recently undergone significant renovations, and consists of 74 units, comprised of 68 large two-bedroom units, and six three-bedroom units over nine buildings, spread across a three acre site. Beverly Grove offers its residents ample off-street parking, convenient on-site laundry facilities, a sparkling pool with a community deck, and an on-site management office. Located just off of Halsey Street, Beverly Grove is centrally situated within the neighborhood. Residents have easy access to major transportation corridors via I-84 and I-205. Public transportation options are also readily available, with MAX blue, green, and red lines going through the Gateway MAX Station less than a mile away. Nearby bus stops for the 22, 23, 77, and 87 buses are located within blocks of the property. The Portland International Airport is located just five miles away, and Downtown Portland is a quick seven mile trip down I-84. Nearby shops and amenities include Mall 205, Target, Bi-Mart, Home Depot, Fred Meyer, Knott City Park, and much more. Once dubbed the Gateway to the Columbia Gorge, the Gateway Business District stretches from 102nd to 162nd Avenues and covers nearly 25% of East Portland. Designated an Eco District in 2009, Gateway has committed to be one of the most sustainable business districts in the city. LAND AREA 3.0 AC APN R YEAR BUILT / RENOVATED 1969 / 2016 PARKING ± 100 Spaces SIDING Wood Lap & T-III HEAT Electric AVERAGE MONTHLY RENT $1,255 LISTING PRICE $13,500,000 PRICE PER UNIT $182,432 PRICE PER SQUARE FEET $197 IN-PLACE CAP RATE 5.41% PRO FORMA CAP RATE 6.11% GROSS RENT MULTIPLIER KIDDER MATHEWS BEVERLY GROVE

5 PROPERTY DESCRIPTION Unit Mix Summary UNIT TYPE NO. OF UNITS AVG SF CURRENT RENT CURRENT RENT / SF HIGHEST RENT ACHIEVED HIGHEST RENT ACHIEVED / SF PRO FORMA RENT PRO FORMA RENT / SF 2 Bedroom / 1 Bathroom $1,228 $1.35 $1,325 $1.46 $1,325 $ Bedroom / 1 Bathroom 3 1,120 $1,498 $1.34 $1,550 $1.38 $1,610 $ Bedroom / 1.5 Bathroom 1 1,050 $1,450 $1.38 $1,450 $1.38 $1,575 $ Bedroom / 2 Bathroom 2 1,180 $1,580 $1.34 $1,610 $1.36 $1,695 $1.44 TOTALS / AVERAGE 74 68,630/ 927 $1,255 $1.35 $1,344 $1.45 $1,350 $1.46 OFFERING MEMORANDUM KIDDER MATHEWS 5

6 GATEWAY MAX CENTER GATEWAY SHOPPING CENTER NE 102 ND AV E N UE GATEWAY RETAIL CORRIDOR GATEWAY DISCOVERY PARK NE 6 H S AL EY ST E RE T KIDDER MATHEWS BEVERLY GROVE NE W EI DL ER R ST EE T

7 Investment Highlights CENTRAL TRANSIT LOCATION Beverly Grove residents benefit from a convenient array of transportation options, ranging from quick access to Portland-Metro s major arterials, to easy and varied access to public transit. Beverly Grove is situated one mile from I-84 going east-west, and seven miles from Portland City Center. Interstate 205 is one mile away, with Portland International Airport under seven miles north. The property is located less than a mile from the Gateway MAX Station, which services the Blue, Green, and Red light rail lines, providing direct transit to Portland International Airport, Downtown Portland, Hillsboro, Beaverton, Clackamas, and Gresham job centers. The award-winning Trimet Blue, Green, and Red MAX lines cover nearly 70 miles of line, and serve roughly 100,000 riders on a daily basis (Trimet.org). The Gateway MAX station also services seven different bus routes. These routes connect Gateway to the close-in neighborhoods, Portland City Center, Nob Hill, Southeast Portland, as well as many other popular locations for commuters and visitors alike. Gateway Max Station Bus 15: Gateway to SE Portland, city center, and Nob Hill Bus 19: Gateway to Laurelhurst, City Center, Eastmoreland, Woodstock, and Mt. Scott Bus 22: Parkrose to Gateway 1 MILE I-84 & I MILES PORTLAND INTERNATIONAL AIRPORT Bus 23: Sandy to Gateway Bus 24: Fremont to Gateway Bus 25: Gateway to Rockwood Bus 87: Gateway to Rockwood via Airport Way 7 MILES PORTLAND CITY CENTER Superior Location Beverly Grove is less than one mile from the Gateway MAX Station, easily connecting residents to Downtown Portland & Portland International Airport. OFFERING MEMORANDUM KIDDER MATHEWS 7

8 RETAIL & ENTERTAINMENT Located just a block from main arterial streets, Beverly Grove is in close proximity to numerous retail and entertainment destinations. Within a two-mile radius of the property you ll find abundant restaurant choices, retailers, and grocery stores. With over 700,000 SF of retail space located within a half-mile of Beverly Grove, tenants have a short walk to the Fred Meyer anchored Gateway Shopping Center, with an Office Depot, Ross, Kohl s, and several other national retailers, along with a WinCo Foods just across the street. Mall 205, home to Target, 24 Hour Fitness, The Home Depot, and several restaurants including, Olive Garden and Portland Seafood Co., are also close by. MADISON HIGH SCHOOL Retail Abundance Over 700,000 SF of retail space is located within a halfmile of Beverly Grove. MULTNOMAH UNIVERSITY 8 KIDDER MATHEWS BEVERLY GROVE

9 SACRAMENTO ELEMENTARY SCHOOL PORTLAND CHRISTIAN SCHOOLS GATEWAY GREEN KAISER GATEWAY DISCOVERY PARK GLISAN STREET STATION NE 122ND AVENUE GATEWAY MAX CENTER NE 102ND AVENU E NE HALSE Y STREE T GATEWAY SHOPPING CENTER NE GLISAN STREET OFFERING MEMORANDUM KIDDER MATHEWS 9

10 Vancouver PORTLAND INTERNATIONAL AIRPORT 30 DOWNTOWN PORTLAND Portland 26 Gresham Beaverton Milwaukie 10 KIDDER MATHEWS BEVERLY GROVE

11 NE 104TH AVENUE OFFERING MEMORANDUM KIDDER MATHEWS 11

12 Exclusively represented by Tyler Linn Vice President Clay Newton Senior Vice President, Partner Jordan A. Carter Senior Vice President, Partner