274 UNITS Newly Built, Class AA Urban Mid-rise Located Within One of Tampa s Most Exciting In-fill Neighborhoods

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1 OFFERING SUMMARY 274 UNITS Newly Built, Class AA Urban Mid-rise Located Within One of Tampa s Most Exciting In-fill Neighborhoods

2 Offering Summary Holliday Fenoglio Fowler L.P. ( HFF ) is pleased to present the opportunity to acquire Havana Square ( The Property ), a 274-unit newly constructed luxury Class AA apartment community prominently located in the heart of North Hyde Park, downtown Tampa s most rapidly ascending neighborhood. Artfully developed by Pollack Shores Real Estate Group, Havana Square evokes a modern, industrial style with an elegant flair of old Havana. Residents experience a combination of inspired amenities, designer interior finishes, and sun-soaked outdoor spaces, all within the confines of an upscale four-story community that offers the comfort and convenience of a secured-access parking structure and elevator service. Capitalizing on the recent momentum of the rapidly emerging North Hyde Park neighborhood, the Property was born out of the need for upscale, sophisticated housing for young professionals seeking unmatched convenience to Tampa s top retail, dining, and nightlife, as well as easy access to the region s largest white-collar employment nodes. Situated between Historic Hyde Park (perhaps Tampa s most exclusive neighborhood) and Downtown Tampa s Central Business District, the Property s location is designated Very Walkable by Walkscore.com. The immediate neighborhood is bursting with excitement as newly opened bars, eateries, shops, and high-end for-sale townhome communities have transformed what was once a largely industrial neighborhood into a burgeoning haven for millennials and young families. Meanwhile, the vibrant Hyde Park Village retail district, the SoHo Nightlife District, the recently opened Tampa Riverwalk, and Tampa s CBD are all less than a mile away. Havana Square also boasts unparalleled travel convenience, located within half a mile of Interstate 275 and Selmon Expressway two major Tampa thoroughfares. With billions of dollars of new development underway within Tampa s urban core and its surrounding neighborhoods, Havana Square s thoughtful upscale design and strategic in-fill location have the Property well-positioned for a new owner to capitalize on the tremendous growth occurring within one of the most dynamic markets in the Southeastern United States. EXECUTIVE SUMMARY 2

3 Investment Highlights Core-quality asset poised to capitalize on downtown Tampa s continued momentum Rapid lease-up averaging 25 units per month driven by strong demand Exciting ability to significantly grow rents upon stabilization as lease-up rates have been held substantially below those at nearby stabilized properties Attractive basis relative to replacement cost Central in-fill location in rapidly growing North Hyde Park neighborhood less than a mile from Tampa s CBD Constraints on new supply of comparable product Upscale luxury community with wellappointed amenities and tastefully designed interiors Numerous new retail and for-sale housing developments in the immediate area Convenience and comfort of elevator-access and a secured parking garage Designated Very Walkable by Walkscore. com with immediate access to retail, nightlife, and employment 3 EXECUTIVE SUMMARY

4 Property Overview PROPERTY OVERVIEW Address: 400 N Rome Ave, Tampa, FL Total Units: Average Unit Size (Under A/C): Total Rentable Residential Square Feet: 274 units 804 square feet 220,375 square feet Acreage: 2.88 acres Occupancy / Leased % (as of 8/26/17) : 50.7% / 55.11% Year Built: 2017 Market Rents (as of 8/26/17): Construction Type: $1,556 per unit Four-story wood-frame wrap construction with a six-story secured-access parking garage and dual elevator access EXECUTIVE SUMMARY 4

5 UNIT MIX Floor Plan Unit Type Average SF Unit Count % of Mix A1 1 Bed / 1 Bath % A2 1 Bed / 1 Bath % A5 1 Bed / 1 Bath % A6 1 Bed / 1 Bath % B2 2 Bed / 2 Bath 1, % B3 2 Bed / 2 Bath % B3A 2 Bed / 2 Bath 1, % B3B 2 Bed / 2 Bath 1, % B4 2 Bed / 2 Bath 1, % B5 2 Bed / 2 Bath % B6 2 Bed / 2 Bath 1, % C1 3 Bed / 2 Bath 1, % TOTAL/AVERAGE % 5 EXECUTIVE SUMMARY

6 Elegantly Appointed Interiors Havana Square offers 12 efficiently laid-out floor plans averaging 804 square feet with interior finishes thoughtfully selected to satisfy the Property s sophisticated renter base. Residents are able to choose among three designer influenced finish palettes that feature opulent quartz or granite kitchen countertops, stainless steel appliances, sleek designer cabinetry, contemporary tile backsplash, spacious walk-in closets, in-suite washer/dryers, USB outlets, and wood plank flooring in the living and wet areas. The Property also offers the comfort of ceiling fans in the living room and master bedroom, as well as large private balconies. EXECUTIVE SUMMARY 6

7 Interior Amenities Three distinct designer kitchen color palettes Granite or quartz kitchen countertops Stainless steel appliances Spacious walk-in closets In-suite washers & dryers Cultured marble vanities in bathrooms Sleek tile backsplashes Large private balconies 7 EXECUTIVE SUMMARY

8 Dazzling Array of Amenities Upon entering the Property, residents of Havana Square are greeted by a stylishly decorated clubhouse that serves as just one of a number of amenities that set the Property apart from the competition. The Property makes brilliant use of two central courtyards one featuring an inviting pool area lined with stylish lounge chairs and a trellised outdoor kitchen, and the other being the ideal weekend hangout spot with a turf bocce ball court, fire pits, and grill areas. For those opting for perspiration over relaxation, the Property s swanky fitness center provides a plentiful variety of top-notch free weights and cardio equipment on par with many nearby gyms. Additionally, a secured-access parking garage provides peace of mind, as well as dazzling nighttime views of the Downtown Tampa skyline from the upper floors. EXECUTIVE SUMMARY 8

9 Community Amenities Club-style swimming pool and sun-drenched pool deck Turf courtyard with bocce ball, corn hole, seating areas, fire pits, and trellised outdoor kitchen Secured-access six-story parking garage Fitness studio with free weights, cardio machines, resistance machines, and flat screen televisions Club room with game tables, flat screen televisions, kitchen, and bar Convenient elevator access 9 EXECUTIVE SUMMARY

10 PORT TAMPA BAY Florida's Largest Port 85,000 Direct & Indirect Jobs AMALIE ARENA Home of Tampa Bay Lightning WATER STREET TAMPA $3B Mixed-Use Development TAMPA CONVENTION CENTER DOWNTOWN TAMPA CBD 9.6M SF of Office Space 66,500 Employees Harbour Island TA PUBLIX TAMPA MUSEUM OF ART GRAND CENTRAL PLACE Oxford Exchange, Mise en Place CURTIS HIXON Waterfront Park STRAZ CENTER FOR THE PERFORMING ARTS TAMPA RIVERWALK TAMPA PREP SCHOOL levard North Bou JULIAN B. LANE PARK $35MM Renovation Project OUTPOST TAP HOUSE UNIVERSITY OF TAMPA 8,310 Students EDISON: FOOD+ PROPOSED TAMPA GENERAL HOSPITAL REHAB CENTER LAS AZOTEAS TOWNHOMES 33 townhomes $400K+ per unit THE STATION GRILL WALMART N M MI40 & CROSSFIT HYDE PARK NOHO FLATS NOHO JUNCTION FOOD HALL CROSSFIT 813 Interstate 301 N ROME Under Constructi 23 Townhomes ($300,000-$400,00 6,700 SF of Ret VINTAGE LOFTS AT WEST END 275 venue A e m o N R LENNAR WEST END TOWNHOMES THE LAB COFFEE SHOP t ee Str Residential ss Destinations Ca Retail W Developments t tree ss S ypre W C MAP KEY Under Construction $380,000-$400,000+ GLAZER FA Recently O $30MM Red FUTURE GREEN SPINE BIKE PATH Est. Completion 2018 N Ho EXECUTIVE SUMMARY 10

11 Peter O. Knight Airport AMPA GENERAL HOSPITAL 7,300 Employees Davis Islands HISTORIC HYDE PARK Avg. Single-Family Home Price (TTM): $906,100 Hillsborough Bay HYDE PARK VILLAGE 260,000 SF Lifestyle Center Pottery Barn, lululemon West Elm, Anthropologie +DRINK LAB TIJUANA FLATS NEIGHBORHOOD MARKET Selmon Expres sway STARBUCKS & DUNKIN DONUTS ion s 00) tail BLEECKER HYDE PARK PRIMROSE SCHOOL THE HYDE OUT DUCKY S SPORTS LOUNGE AMILY JCC Opened development e u Aven d r a ow 11 Ke nn ed y Bo BUDDY BREW COFFEE ule va rd WESTSHORE BUSINESS DISTRICT 17.7M SF of Office Space 94,000 Employees 2.5 Miles Away EXECUTIVE SUMMARY Rapidly Expanding Urban In-Fill Neighborhood Lying across the river from the prominent highrise office towers of Tampa s CBD and adjacent to University of Tampa, North Hyde Park for years was a largely industrial neighborhood until recently when the growth in the prestigious South Tampa area pushed northward. It was only a matter of time before the neighborhood rose to prominence as proximity to Tampa s top two white-collar employment centers and premier destinations like Hyde Park Village and the Soho nightlife district make North Hyde Park the ideal setting for a thriving neighborhood. The area has quickly become one of Tampa Bay s most exciting live-work-play communities as once-blighted storefronts and warehouses have been transformed into exciting new boutiques, restaurants, and watering holes. Locally-owned staples, such as Oxford Exchange, Buddy Brew Coffee, and Ducky s Sports Lounge (partly owned by the Tampa Bay Rays Evan Longoria), have helped North Hyde Park attract millennials and young families looking for a vibrant and organically grown neighborhood within Tampa s urban core. The recently opened Bryan Glazer Family JCC, as well as the $35 million Julian B. Lane Park renovation project and the much-anticipated opening of the Green Spine bike trail, will further add to North Hyde Park s amenity base and cement it as one of the region s most desirable locales.

12 Immediate Access to Tampa s Top Demand Drivers Havana Square s residents enjoy a prime urban location less than one mile away from Downtown Tampa s Central Business District, which boasts a high-quality inventory of over 9.6 million square feet of office space, including the highest Class A office rents in Tampa and the second highest total Class A office supply behind Westshore. Downtown caters to a highly educated, white-collar workforce of 66,500 employees. The newly opened 2.4-mile Riverwalk, a number of new bars and restaurants, and exciting cultural attractions have continued to bolster Downtown Tampa s standing as a top destination for businesses and residents alike. Meanwhile, Havana Square sits just several blocks away from the picturesque waterfront campus of University of Tampa, a private institution with an enrollment of 8,310 students from all 50 states and 140 countries. With easy access to I-275 and the Selmon Expressway, the Property also provides residents with convenient access to the Westshore Business District (94,000 employees), the USF Innovation District (74,000 employees), and St. Petersburg s Gateway Office Market (60,000 employees). EXECUTIVE SUMMARY 12

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14 Investment Contacts Debt Inquiries Matt Mitchell Sr. Managing Director Zach Nolan Director Stephen Hassenflu Associate Jarrod Smith Analyst Elliott Throne Managing Director Preston Reid Director Jaret Turkell Managing Director Maurice Habif Associate Director HFF FLORIDA OFFICES Tampa 101 East Kennedy Boulevard Suite 3905 Tampa, FL Telephone: Fax: Miami 1450 Brickell Avenue Suite 2950 Miami, Florida Telephone: Fax: Orlando 300 South Orange Avenue Suite 1250 Orlando, FL Telephone: Fax: Atlanta Austin Boston Carolinas Chicago Denver Dallas Florham Park (NJ) Houston Indianapolis Los Angeles Miami New York Orange County (CA) Orlando Philadelphia Phoenix Pittsburgh Portland (OR) San Diego San Francisco Tampa Washington, DC London No warranties or representations, expressed or implied, are made as to the accuracy of the information contained herein. The Property is offered subject to errors, omissions, change of price, rental or other conditions including withdrawal without notice, and will be subject to any special conditions, which may be imposed or made by the owner or Holliday Fenoglio Fowler, L.P. The owner and Holliday Fenoglio Fowler, L.P. reserve the right to accept or reject or withdraw any and all offers Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, HFF ), HFF Securities L.P. and HFF Securities Limited (collectively, HFFS ) are owned by HFF, Inc. (NYSE: HF). HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. For more information please visit hfflp.com or follow HFF on