MEADOWBROOK VILLAGE. community LENDER APPROVED SHORT SALE

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1 LENDER APPROVED SHORT SALE MEADOWBROOK VILLAGE manufactured Home community 2900 n union ST PONCA CITY, OKLAHOMA For a video tour of Meadowbrook Village go to: price: TBD

2 MEADOWBROOK VILLAGE Price : TBD by Market Terms: All Cash Address county tax map parcel Sites community type Site information 2900 N. Union St., Ponca City, OK Kay year built 1970 s land size physical occupancy economic occupancy average LAND LEASE RENTS AVerage HOME INVENTORY RENTS inventory homes roads water Sewer electricity trash E (with possibility to expand up to 161) All Age 23.5 acres (5.53 sites/acre) 44.62% (58 sites as of Feb 13) 40.78% (53 sites as of Feb 13) $218 (includes sewer) $289 (as of Feb 13) 17 included in sale (13 occupied) Asphalt utilties Ponca City Utility (sub-metered and billed back to tenants) Ponca City Utility (master metered) Ponca City Utility (direct billed to tenants) Ponca City Utility (direct billed to tenants) INVESTMENT HIGHLIGHTS Opportunity to acquire sizable all age community in Northern Oklahoma through a lender approved short sale. Management reports receiving numerous calls each week from prospective residents but does not have the inventory to accomodate them. Tremendous management turnaround potential with the opportunity to purchase the community at an attractive basis & implement a sales or leasing program. Potential to expand the community up to 161 sites by finishing utility connections or repositioning homes. The community is serviced by municipal utilities through Ponca City. Water is sub-metered and billed back to tenants. The sale includes 17 inventory homes with 13 currently occupied and making payments under a lease to own or rental program. The community has paved streets and off-street parking and includes an on-site office, a laundry room, and a storm shelter. AREA HIGHLIGHTS Meadowbrook Village is conveniently located on the North side of Ponca City, Ok, on N. Union St., which cuts through the center of the city. Ponca City has a population of over 25,000 and is located less than two hours from both Tulsa and Oklahoma City and only 42 miles from Stillwater and Oklahoma State University. The community is in close proximity to several of Ponca City s major employers including a ConocoPhillips refinery, a Wal-Mart Super Center, and Dorada Poultry, best known for providing chicken products to McDonalds. Convenient access to Interstate 35, 15 miles to the East, which leads to Oklahoma City to the South and Wichita, KS to the North. Close proximity to Ponca City s top retail destinations including a Wal-Mart Supercenter, Hobby Lobby, a movie theater, Aaron s and numerous restaurants. The city is dotted with 26 beautiful parks that offer recreational activities to residents. Nearby Kaw Lake, with 17,000 surface acres of water, is also a popular destination for sailing, fishing, hiking, hunting, camping, and water sports. price: TBD

3 MEADOWBROOK VILLAGE FINANCIAL ANALYSIS UNDERWRITING ASSUMPTIONS 1. Actual 2011, 2012, and March 13 T-3 numbers based on financials provided by the client (Utility & Home Income is included in Gross Income) 2. Proforma GSR based on the February 2013 Rent Roll 3. Utility Income based off of February 2013 water reimbursement schedule (Water is submetered and billed back to tenants) 4. Adjusted Utilities are grown 3% from Proforma Taxes = 2012 Tax grown by 3% (Assessed Value = 11% of Appraised Value and 2012 mill rate = %) 6. Proforma Capital Reserves do not reflect actual expense and are estimated at $50/site 7. As Is Proforma Home Income assumes rent from 13 occupied homes at an average of $289/site 8. Stabilized Proforma assumes the community fills to 80% occupancy and that 45 homes are brought in and filled under a LPO program price: TBd

4 MEADOWBROOK VILLAGE location map & site plan price: TBd

5 DIAMOND GROVE AERIal MEADOWBROOK VILLAGE aerial MAP & EMPLOYMENT INFO BUSINESS ConocoPhillips Ponca City Public Schools Dorada Poultry Smith Bits Wal-Mart Super Center Air System Components City of Ponca City Albertson's, Inc. Sykes Mertz, Inc. Mid-America Door Timec MAJOR AREA EMPLOYERS Source: Ponca City Chamber of Commerce BUSINESS # OF EMPLOYEES Refinery 1,500 Education 755 Meat Packaging 700 Drilling Manufacturer 440 Retailer 425 Air Grilles 400 City Government 384 Distribution Center 355 Inbound Call Center 327 Machining 250 Residential Doors 200 Plant Maintenance 148 CONOCOPHILLIPS ConocoPhillips explores for, produces, transports and markets crude oil and natural gas on a global basis. It is the largest refiner in the United States and the fourth largest nongovernment controlled refiner in the world as of The Ponca City facility is the largest refinery in the state of Oklahoma and also houses a credit card center, a technology research center and a transportation office. DORADA POULTRY Dorada Poultry, a joint venture between Tyson Foods and Lopez Foods, provides chicken products to McDonald s restaurants. Since moving to the plant in mid-2011, the company expects to have an economic impact of $7 million per year in payroll. SMITH BITS Formerly Smith International, Smith Bits is now a subsidiary of Schlumberger. The company designs, manufactures, and supplies premium drilling products and services to the oil & gas industry. In 2011, Smith Bits won the Best Drilling Technology award in the 10th Annual World Oil Awards. AIR SYSTEM COMPONENTS Air System Components is a market-leading supplier of heating, air conditioning, and ventilation system components for commercial, industrial and residential applications. Brands under the Air System Umbrella include Titus, Krueger, and Tuttle & Bailey among others. price: TBd

6 w Information for Meadowbrook Village is available on our website at: For a video tour of Meadowbrook Village go to: This information has been derived from sources deemed reliable. However, it is subject to errors, omissions, price change and/or withdrawal, and no warranty is made as to the accuracy. Further, no warranties or representation shall be made by Apartment Realty Advisors (ARA) and/or its agents, representatives or affiliates regarding oral statements which have been made in the discussion of the above property. This presentation, prepared by ARA, was sent to the recipient under the assumption that s/ he is a buying principal. Any potential purchaser is advised that s/ he should either have the abstract covering the real estate which is the subject of the contract examined by an attorney of his/her selection, or be furnished a policy of title insurance. Do not contact the Property. ARA NATIONAL MANUFACTURED HOUSING GROUP: ARA TULSA: 901 S MoPac Expressway Barton Oaks Plaza II, Suite 275 Austin, TX Brian Vita bvita@arausa.com T Brandon Lamb blamb@arausa.com T ARA. All Rights Reserved Andrew Shih ashih@arausa.com T Todd Fletcher tfletcher@arausa.com T Brian O Boyle oboyle@arausa.com T relationships that deliver results.