INVESTMENT SUMMARY. Holliday Fenoglio Fowler, L.P. ( HFF ) a Texas licensed real estate broker.

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1 INVESTMENT SUMMARY PROPERTY SUMMARY Address: 4210 Fredericksburg Road Rentable SF: 127,525 Number of Units: 327 Acres: Year Built: 1974 Occupancy: 93% Average Unit Size: 390 Holliday Fenoglio Fowler, L.P. ( HFF ) a Texas licensed real estate broker.

2 Executive Summary HFF has been exclusively retained to offer qualified investors the unique opportunity to purchase fee simple interest in Santa Fe Place Apartments (The Property ), a 327-unit apartment community ideally located in Northwest Central San Antonio. Built in 1974, the Property features 14 buildings on a well maintained, 6.98-acre site featuring a large community pool, picnic area, BBQ pits, children playground, inviting lounge, and a professional business center. An incredible value-add opportunity exists as current rents are below market and over $2 million dollars has been invested into capital projects since 2015, primarily exterior focused, providing potential investors a prime opportunity to increase revenue by renovating unit interiors to match the rental demand for the area. Santa Fe Place s excellent infill location on Fredericksburg Rd near the heavily trafficked intersection of IH-10 and Loop 410 provides residents immediate access to San Antonio s largest economic drivers including the South Texas Medical Center, San Antonio International Airport and Downtown San Antonio. Residents also enjoy access to some of the city s most desirable retail and recreational amenities provided at Wonderland of the America s Mall, Northstar Mall, Alamo Quarry Village and Olmos Park. Additionally, Santa Fe Place and the booming Northwest submarket benefit from the continued population growth and demand for housing in the immediate area, resulting in market leading occupancy (94.9%) and healthy annual rent growth (3.7%) across the submarket. There s continued population growth and demand for housing in the immediate area, resulting in market leading occupancy (94.9%) and healthy annual rent growth (3.7%) across the submarket.

3 Heavy lifting completed provides ultimate revenue enhancement opportunities Investment Highlights Current owner has spent approximately $2 million on capital projects at Santa Fe Place since 2015, doing the necessary repairs to the property s exterior, physical, and mechanical items. This includes: Exterior Stucco/Wood Replacement State of the Art Clubhouse & Leasing Center Full Exterior Paint Resurfaced Parking Lot Boiler Stairwell Repairs Pool and Deck Renovations Updated Landscaping and Signage Santa Fe has successfully upgraded approximately 157 units with new plank flooring, resurfaced countertops and newly painted cabinets generating average monthly premiums of $75 or 17% per the most current rent roll. This provides new investors the opportunity to continue this program on the remaining 170 units or further enhance the unit upgrades with the following: Modern Fixtures Black Appliances Tile back-splash New cabinetry and/or faces

4 Excellent Infill Location STONE OAK Located adjacent to the intersection of Loop 410 and IH-10, Santa Fe Place benefits from incredible visibility as the intersection averages 245,000 VPD. VINEYARD SHOPPING CENTER SONTERRA VILLAGE LEGACY SHOPPING CENTER Population growth to the immediate area continues to be robust as over 405,000 people live within a 5-mile radius and is expected to growth 5.6% over the next 5 years. The Property offers superior ingress and egress to the major thoroughfares so residents can enjoy direct connectivity to the premier entertainment and necessity based retail offerings in San Antonio. THE SHOPS AT LA CANTERA UTSA THE RIM SHAVANO PARK Blanc o Road HILL COUNTRY VILLAGE NORTH WOODS CENTER Wurz bach Parkway Nacogdoches Road Bandera Road Drive Times To/From Santa Fe Place Apartments Fredericksburg Road USAA CASTLE HILLS SAN ANTONIO INTERNATIONAL AIRPORT 3 mins to Wonderland of the America s 7 mins to Park North 10 mins to South Texas Medical Center 10 mins to North Star Mall Anderson Loop SOUTH TEXAS MEDICAL CENTER PARK NORTH San Antonio NORTH STAR MALL ALAMO QUARRY MARKET Austin Hig hway WINDCREST 12 mins to Pearl Brewery 12 mins to Shops at La Cantera 13 mins to Riverwalk 14 mins to The Rim 14 mins to UTSA Downtown San Antonio 15 mins to The San Antonio International Airport Culebra Road San Pedro Avenue TERRELL HILLS FORT SAM HOUSTON West Commerce Street DOWNTOWN SAN ANTONIO CBD

5 THE RIM SHAVANO PARK Proximity to Major Economic Drivers UTSA SOUTH TEXAS MEDICAL CENTER USAA HQ HEB LOWES SPROUTS FARMERS MARKET CHERRY RIDGE OFFICE PARK ACADEMY SPORTS AND OUTDOORS SAN ANTONIO INTERNATIONAL AIRPORT NORTH STAR MALL Santa Fe Place offers unmatched accessibility to the metro s largest employment hubs including Downtown, South Texas Medical Center, USAA Headquarters, Valero Energy, and the San Antonio International Airport. Downtown 20,000 jobs (13 mins) UTSA 30,000 students (12 mins) 245,000 VPD San Antonio International Airport 100,000 jobs (9 mins) South Texas Medical Center 56,000 jobs (9 mins) TARGET BURLINGTON COAT FACTORY HOBBY LOBBY USAA 18,000 jobs (10 mins) CROSSROADS SHOPPING CENTER WONDERLAND OF THE AMERICAS Valero Energy 3,700 jobs (14 mins) o GOLDS GYM LA MICHOACANA ALTIERUS CAREER COLLEGES HARBOR FREIGHT TOOLS Booming Submarket Fundamentals FREDERICKS'S CIRCLE SHOPPING CENTER. PLANET FITNESS PETER PIPER PIZZA CHASE ATM WALMART SUPERCENTER Located in the Northwest submarket of San Antonio, which has experienced incredible rental demand due to continued movement of the San Antonio population, the submarket has seen positive fundamental growth for years. UNIVERSITY HEALTH SYSTEM BUSINESS CENTER The demand for living options in the submarket continues as occupancy across the submarket is topping out the metro at 94.9%, and rent growth is an impressive 3.7% year over year. FREDERICKSBURG RD. With no new units delivered in the last 12 months and no new units planned for the next 48 months, occupancy and rent growth in the NW submarket are poised to see continued positive growth trends.

6 Debt Contact FORREST BASS MATT POHL SPENCER ROY SEAN WOLFF CASEY WENZEL Senior Director Senior Director Analyst Analyst Senior Director HFF has been engaged by the owner of the properties to market them for sale. Information concerning the properties described herein has been obtained from sources other than HFF, and neither Owner nor HFF, nor their respective equity holders, off icers, employees and agents makes any representations or warranties, express or implied, as to the accuracy or completeness of such information. Any and all reference 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 diff erent from that used by a purchaser, and HFF, its partners, off icers, employees and agents disclaim any liability that may be based upon or related to the information contained herein. Prospective purchasers should conduct their own independent investigation and rely on those results. The information contained herein is subject to change.