INVESTMENT OVERVIEW INVESTMENT HIGHLIGHTS

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1 OFFERING SUMMARY

2 INVESTMENT OVERVIEW Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp. a Texas licensed real estate broker ( HFF ) has been exclusively retained to offer an opportunity for qualified investors to purchase the fee simple interest in Broadstone Farmers Market (the Property ), a 340 unit asset in Dallas, Texas. Completed in 206, the Property is located in the vibrant Farmers Market District of the Dallas CBD, and offers a true Live / Work / Play environment as it is within walking distance of some of the most popular restaurants, bars, entertainment venues, and economic activity in all of Dallas including the Farmers Market, Deep Ellum, Dallas Arts District, and the Dallas CBD. Furthermore, the Property is just blocks from Baylor s flagship hospital, Baylor University Medical Center, which is and employs more than 5,500 people. Moreover, Broadstone Farmers Market benefits from unbelievable visibility along one of Dallas busiest thoroughfares, Interstate-30, with traffic counts greater than 375,000 cars per day. INVESTMENT HIGHLIGHTS CORE, TROPHY ASSET WITH MARKET-LEADING AMENITIES Broadstone Farmers Market is a Class A community that presents the rare opportunity to acquire an institutional quality asset in a prime location. Developed by Alliance Residential Company, this distinct property features market-leading finish outs and amenities that are rarely found in competitive properties including gas stoves (70 units), bicycle rentals, electric car charging stations (4), stained concrete floors and 2 ceilings on all first floor units, package delivery lockers (67), private yards (7), state-of-the-art fitness center with TRX equipment, spa showers, wine racks, and more. This intricate attention to detail is unrivaled in the marketplace and helps to distinguish Broadstone Farmers Market as a notch above its competitors. EPICENTER OF THE LARGEST EMPLOYMENT CENTER IN NORTH TEXAS The Dallas CBD is the largest employment center in North Texas as approximately 35,000 people, or more than 20% of the DFW area s employment base, work in Downtown. During the last 24 months, more than 40 companies moved operations to Downtown bringing 7,500 new employees and occupying two million square feet. Today, the Dallas CBD encompasses roughly 35 million square feet of office space, over 2,500 businesses, and approximately 200 corporate or regional headquarters including three Fortune 500 headquarters and notable employers that include AT&T, Comerica, Neiman Marcus, JPMorganChase, Goldman Sachs, and Invesco.

3 INVESTMENT HIGHLIGHTS (CONTINUED) REAWAKENING OF DEEP ELLUM ENTERTAINMENT DISTRICT Deep Ellum is one of the most restaurant and entertainment rich destinations in Dallas, boasting several of the top restaurants in DFW according to D Magazine including Pecan Lodge, Filament, and Cane Rosso amongst others. In addition to its popular dining destinations, Deep Ellum features a wide variety of music venues, bars & nightlife, and trendy retail. Over the last several years, Deep Ellum has become an innovative, pedestrian friendly, mixed-use urban hub that residents of Broadstone Farmers Market routinely enjoy. STRONG SURROUNDING DEMOGRAPHIC BASE The area surrounding Broadstone Farmers Market is experiencing an explosion of growth that includes an increasing affluent demographic base. Within a one mile radius of the Property, the average household income is in excess of $84,02 annually while the population has skyrocketed, growing by 79% since the year Additionally, high-end townhome style condos in the Farmers Market average more than $550,000. TRENDY, URBAN LOCATION IN THE NEWLY TRANSFORMED FARMERS MARKET Located adjacent to the Property is the Dallas Farmers Market that recently completed a $65 million renovation that helped spur economic activity for the thriving micro market and is a tremendous built-in amenity for residents at Broadstone Farmers Market. The Market consists of a 26,000 square foot food hall and artisanal vendor market containing anchor restaurants, a mixture of local speciallty foods, artisanal food vendors, and an exspansive seating area with beautiful views of the Downtown Dallas skyline. The Farmer s Market also includes The Shed, an open-air pavilion where local farmers and vendors bring their products to sell. Moreover, three futsal courts, community gardens, and workout stations are scheduled to begin construction in mid-207. Merchants in The Market include:

4 UNIT MIX SUMMARY: Units Unit Description % of Total SF Market Rent Rent per SF Effective Rent Effective Rent PSF 37 Studio % 65 $,290 $2.0 $,27 $ One Bedroom 69% 752 $,426 $.90 $,352 $ Two Bedroom 20%,80 $2,6 $.83 $,944 $ % 824 $,560 $.89 $,423 $.73 *There are 27 different floor plans at Broadstone Farmers Market DOWNTOWN DALLAS REVITALIZATION Investment in the public and private sectors has spurred the transformation in urban Dallas from a major employment center to an increasingly vibrant place to work, live and play. Over the last decade, more than $3 billion has been invested in Intown Dallas: PROPERTY DESCRIPTION Address: Year Built: S. Good Latimer Expressway Dallas, Texas 7520 Current Leased: 85.3% (as of 6/9/7) Total Units: 340 $65 $500 FARMERS MARKET OMNI DALLAS CONVENTION CENTER HOTEL Average Unit Size: 824 square feet Rentable Square Footage: 280,223 square feet Number of Buildings: 3 Number of Stories 3 Land Area: 7.44 acres Density: units per acre $350 $25 $0 $70 $50 AT&T CENTER DALLAS CONVENTION CENTER KLYDE WARREN PARK NASHER SCULPTURE CENTER HYATT REGENCY DALLAS In addition to new development, formerly abandoned buildings have been refurbished or completely redeveloped, drawing new retail and office tenants to the area. Parking: garage spaces 26 breezeway garages 47 open surface spaces RESIDENT RELOCATION 447 total parking spaces or.3 spaces/unit Currently, there are 39 out of state residents at Broadstone Farmers Market occupying 34 units, or approximately 0% of the Property

5 COMMUNITY FEATURES + + Outdoor gourmet kitchen with expansive social grilling station + + Urban oasis pool lounge DFW ECONOMIC OVERVIEW 29,700 NEW JOBS ADDED during year-ending Mar Athletic center featuring TechnoGym + + Social club center with ping pong + + Storefront windows + + Technology lounge 226,340 PROJECTED NEW JOBS CREATED from 207 through Open courtyard with fire pit + + Dallas skyline and pool views + + Reserved covered parking and Parking Garage + + Wifi in common areas 580,840 PROJECTED POPULATION GROWTH from 207 through 202 APARTMENT MARKET OVERVIEW + + Pet walk area with wash station + + Walking distance to Farmers Market & Deep Ellum + + Minutes from major freeways, Downtown Dallas, Uptown Dallas + + Controlled access + + Elevator access UNIT FEATURES + + GE stainless steel appliances + + Chef-inspired kitchen with custom built-ins & gas ranges* + + Contemporary granite with undermount sink + + Custom designer cabinetry + + Wood-style flooring to 2-Foot ceilings + + Rustic modern hardware and finishes + + Under-counter lighting + + Custom solar shades* + + Rustic modern finishes + + Personal patios & balconies* + + Washer & Dryer included in every unit + + Spacious walk-in closet + + Kitchen islands + + Dual vanities* *In select units $,695 4,86.5% EFFECTIVE RENTS as of Q6 PROJECTED ANNUAL ABSORPTION Q8 RENT GROWTH FOR product since Q5

6 DA L L A S M E D I C A L DISTRICT TRINITY RIVER CORRIDOR PROJECT U P TO W N W E S T V I L L AG E DESIGN DISTRICT S TAT E THOMAS DOWNTOWN DALLAS 35,000 EMPLOYEES 2,500 BUSINESSES 3 FORTUNE 500 COMPANIES WEST END H I S TO R I C D I S T R I C T BAYLOR'S FLAGSHIP HOSPITAL 5,500+ EMPLOYEES 60+ RESTAURANTS 20+ MUSIC VENUES 30+ RETAIL SHOPS M A R I L L A S T. GOOD L AT I M P Y. ER EX 0%. 79% VD R C H AV E Z BL GROWTH POPULATION SINCE 2000 GROWTH SA POPULATION P R O J E C T E D CE 78% $84,02 H A R W O O D S T. OVER NEXT 5 YEARS OFFERING: Broadstone Farmers Market is being offered on a free and clear basis OFFER DATE: TBD TIMING: All submissions must include specific terms relating to Due Diligence and Closing time periods. ADDITIONAL INFORMATION BILL MILLER» Senior Managing Director» bmiller@hfflp.com (469) ROBERTO CASAS» Senior Managing Director» rcasas@hfflp.com (469) GREG TORO» Director» gtoro@hfflp.com (469) HFF, L.P WILLIAM JENNINGS» Senior Real Estate Analyst» wjennings@hfflp.com (469) TEDDY LEATHERMAN» Analyst» tleatherman@hfflp.com (469) For questions regarding debt structures on this property, please contact: ANDY SCOTT» Senior Managing Director» ascott@hfflp.com (469) One Victory Park 2323 Victory Avenue Dallas, TX 7529 USA Telephone: (24) Facsimile: (24) Holliday Fenoglio Fowler, LP ( HFF ) and HFF Securities LP ( HFFS ) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 24 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, advisory services, structured finance, private equity, loan sales, and commercial loan servicing. Holliday Fenoglio Fowler, L.P. ( HFF ) has been engaged by the owner of the property to market it for sale. Information concerning the property described herein has been obtained from sources other than HFF and we make no representations or warranties, express or implied, as to the accuracy or completeness of such information. Any and all references to age, square footage, income, expenses and any other property specific information are approximate. Any opinions, assumptions, or estimates contained herein are projections only and used for illustrative purposes and may be based on assumptions or due diligence criteria different from that used by a buyer. Buyers should conduct their own independent investigation and rely on those results. The information contained herein is subject to change.