PEARLAND RV PARK. AVAILABLE FOR: $4,225,000 CAP RATE: 8.27% (Excludes development upside potential) 4215 Bedynek Road, Manvel, TX 77578

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1 PEARLAND RV PARK 4215 Bedynek Road, Manvel, TX Opportunity to acquire a newly-developed, stabilized RV park with a waiting list and significant future upside through additional development potential. AVAILABLE FOR: $4,225,000 CAP RATE: 8.27% (Excludes development upside potential)

2 INVESTMENT HIGHLIGHTS STABLE OCCUPANCY: Stabilized RV park with 100% occupancy and a large waiting list as of June 2018 PRIME LOCATION IN THE PATH OF MAJOR GROWTH: Easy access to the 288 Expressway and upcoming HOV Tollway which runs through Houston Medical Center District and the Houston Central Business District. The Pearland Silverlake subdivision is one of the largest and fastest growing developments in the County with homes ranging from $300k-$700k less than 1 mile away. AREA FOR FUTURE DEVELOPMENT ON-SITE MANAGEMENT: Professional on-site manager provides a high-yielding property with hands-off ownership. Owners looking to self manage can materially increase their returns to a 9.45%+ cap rate in Year 1. HIGH END RV PADS: 65 concrete pads can facilitate RVs up to 50 feet and provide or 50 amp electrical service to each site. UPSIDE POTENTIAL: Development upside potential for additional RV pad sites, boat, and/or self storage with full rentention already provided. All current amenities can accommodate up to 75 additional RV pads. There are no zoning restrictions. The additional land is available for sale but is being offered separately. In-place retention will accommodate either an additional 75 RV spaces or 125,000 sq. ft. of enclosed storage. PEARLAND TOWN CENTER 19 MILES ON HWY 288 TO HOUSTON MEDICAL CENTER 288 SILVERLAKE: 1,000 ACRE COMMUNITY, 2,500 HOMES, 230 ACRES SUPPORTING COMMERCIAL DEVELOPMENT SILVERLAKE PHASE 1 SILVERLAKE PHASE 2 PEARLAND RV RESORT Bahler Road 2.75 Miles to Hwy 288

3 PEARLAND RV PARK DESCRIPTION Pearland RV Park is a newly-constructed RV park in 2017 that is currently 100% occupied with a waiting list of over 25 guests (approx. 40% of total RV spaces) as of June Positioned on the southeast side of Houston, Pearland RV Park s convenient proximity to the Expressway provides easy access to city life in Pearland and Houston. The park attracts both guests working or visiting the city who prefer a peaceful and tranquil setting, with current significant long-term demand coming from the Houston Medical Center campus of Houston that employs over 100,000 people and is home to the largest cancer hospital in the world (MD Anderson Cancer Center). The park s newly-constructed 65 concrete pads and concrete roads accommodate RVs up to 50' and offer full hook-ups with or 50 amp electrical service, water, and sewer. Other amenities include cable, high-speed wireless internet, a fishing lake, a spotless bathhouse, and a convenient on-site laundry facility in a family and pet-friendly environment. Security and aesthetic street lighting is scheduled to be installed in Q There is approximately 6 acres of adjacent land for sale that is owned by the same entity and available for development of additional RV spaces given the current demand at Pearland RV Park. The design of the Pearland RV Park was constructed with the potential for additional expansion with infrastructure, retention, lift station, power, water, and sewer being able to accommodate up to an additional 75 RV pads or a combination of up to six enclosed storage facilities, hard corner retail, or a RV car wash.

4 PROPERTY DETAILS Type: RV Park RV Spaces: 65 MSA: Houston, TX Pads and Roads: Concrete Electric and Sewer: City Water: Well Service Website: DAILY WEEKLY MONTHLY Current Rental Rates $50.00 $ $ *The Federal Emergency Management Agency ( FEMA ) currently occupies 56 RV spaces. The FEMA contract for 56 spaces is anticipated to run through August Early indications are that FEMA would like to extend after that. In addition, there is currently a waitlist of 25 spaces and growing. Rates shown for monthly guests exclude bill back revenue earned by the park for utility and propane usage. YEAR 1 PRO FORMA INCOME SELF MANAGEMENT PROFESSIONAL ON-SITE MANAGEMENT Rental Revenue $505,010 $505,010 Ancillary Revenue $4,288 $4,288 Utility Revenue $2,584 $2,584 Total Gross Potential Income 1 $511,882 $511,882 Vacancy Factor 2 ($10,599) ($10,599) Total Effective Gross Income $501,283 $501,283 EXPENSES Landscaping $9,310 $9,310 Front Desk $2,894 $2,894 Guest Services and Housekeeping $2,844 $2,844 Security $1,021 $1,021 Utilities $30,078 $30,078 Repairs & Maintenance $7,013 $7,013 Marketing $10,879 $10,879 General & Administrative $2,709 $2,709 Insurance $4,589 $4,589 Property Tax (2018 Actual) $30,561 $30,561 Payroll Expenses $50,106 Total Expenses 3 $101,897 $152,003 Net Operating Income $399,386 $349,280 Available for $4,225,000 Investor Cap Rate on Purchase Price 9.45% 8.27% 1) Gross Potential Income assumes 56 FEMA spaces through August 2018 and 50 FEMA spaces through December Current rental rates and utility reimbursements would have generated higher Gross Potential Income than FEMA-occupied spaces. 2) Vacancy factor assumes 2-3 vacant spaces per month starting in May 2018 despite currently being 100% occupied with a substantial waiting list. 3) Expense line items are based on actual results incurred by ownership.

5 SUBMARKET OVERVIEW The surrounding area continues to develop rapidly around Pearland RV Park given the proximity to the 288 North-South Expressway, which is being expanded to add four toll lanes. These nearby regional and local developments are bolstering property values and creating a strong demand for RV living spaces. The City of Pearland created a Municipal Management District to oversee the Houston 288 Expressway master improvement plan. The master plan includes key infrastructure improvements that target thoroughfares, drainage, public safety, library expansions, parks, and sports venues. The Pearland Economic Development Commission (EDC) continues to market the City of Pearland to businesses as a prospect for potential relocation. As Pearland s population grows rapidly, a nearby mixed use retail shopping center, Pearland Town Center, recently announced additional retail tenants. It is estimated the town center is creating 1,500 jobs, and generating close to $250 million in sales each year. A master planned mixed-use center called the Ivy will be the newest addition to the Pearland region. This mixed-use center will contain over 800,000 square feet of retail, hotel, and office space. The Ivy District will also offer upscale residential options for all age demographics.

6 BROKER CONTACT CHARLES KIM Senior Asset Manager EXT 159 JENNIFER RODRIGUEZ Asset Manager EXT 118 The information contained herein was obtained from sources believed reliable, however JRW Realty makes no guaranties, warranties or representations as to the completeness or accuracy thereof. The presentation of this property for sale is submitted subject to errors, omissions, change of price or conditions, or withdrawal without notices.