Bob Goldfinger Darron Kattan Kevin Kelleher Managing Director Managing Director Director

Tampa, FL 33610 4102 Oak Knoll Court Marketing Package Bob Goldfinger Darron Kattan Kevin Kelleher Managing Director Managing Director Director Franklin Street Real Estate Franklin Street Real Estate Franklin Street Real Estate robert.goldfinger@fsfp.com darron.kattan@fsfp.com kevin.kelleher@fsfp.com

Confidentiality Agreement This is a confidential Memorandum intended solely for your limited use and benefit in determining whether you desire to express further interest into the acquisition of the Subject Property. This Memorandum contains selected information pertaining to the Property and does not purport to be a representation of state of affairs of the Owner or the Property, to be all-inclusive or to contain all or part of the information which prospective investors may require to evaluate a purchase of real property. All financial projections and information are provided for general reference purposes only and are based on assumptions relating to the general economy, market conditions, competition, and other factors beyond the control of the Owner or Franklin Street Real Estate Services, LLC. Therefore, all projections, assumptions, and other information provided and made herein are subject to material variation. All references to acreages, square footages, and other measurements are approximations. Additional information and an opportunity to inspect the Property will be made available to all interested and qualified prospective purchasers. Neither the Owner or Franklin Street Real Estate Services, LLC., nor any of their respective directors, officers, affiliates or representatives are making any representation or warranty, expressed or implied, as to the accuracy or completeness of this Memorandum or any of its contents, and no legal commitment or obligation shall arise by reason of your receipt of this Memorandum or use of its contents; and you are to rely solely on your own investigations and inspections of the Property in evaluating a possible purchase of the real property. The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase Property, and/or to terminate discussions with any entity at any time with or without notice which may arise as a result of review of this Memorandum. The Owner shall have no legal commitment or obligation to any entity reviewing this Memorandum or making an offer to purchase the Property unless and until written agreement(s) for the purchase of the Property have been fully executed, delivered, and approved by the Owner and any obligations therein have been satisfied or waived. By receipt of the Memorandum, you agree that this Memorandum and its contents are of a confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose this Memorandum or any of its contents to any other entity without the prior written authorization of the Owner or the Franklin Street Real Estate Services, LLC. Furthermore, you agree not to use this Memorandum or any of its contents in a manner detrimental to the interest of the Owner or Franklin Street Real Estate Services, LLC. In this Memorandum, certain documents, including leases and other materials, are described in summary form. These summaries do not purport to be complete nor necessarily accurate descriptions of the full agreements referenced. Interested parties are so advised and expected to review all such summaries and other documents of whatever nature independently and not to rely on the contents of this Memorandum in any manner. If, after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return this memorandum to Franklin Street Real Estate Services, LLC. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR FRANKLIN STREET REAL ESTATE SERVICES, LLC AGENT FOR MORE DETAILS.

Table of Contents SECTION ONE. PROPERTY DESCRIPTION SECTION TWO PRICING & FINANCIAL ANALYSIS SECTION THREE. SALES COMPARABLES SECTION FOUR. RENT COMPARABLES SECTION FIVE. DEMOGRAPHICS Mission Statement Our goal is to leverage the vital real-time information earned through the efforts of each Franklin Street company, in order to deliver maximum value and superior advisory services to our clients.

Tampa, FL 33610 4102 Oak Knoll Court PROPERTY DESCRIPTION

Investment Overview Investment Highlights -Investment Highlights Motivated Seller Concrete Block Construction Great Unit Mix of 1,2,3 Bed Units Gate Secured Community Waterfront Complex Located Near Many Major Highways Lush Tropical Landscaping Renovated in 1994, 2007 to Present -Description The Apartments of were built in 1974 and consist of 48-1 Bedroom / 1 Bath, 77-2 Bedroom / 1 Bath, 52-2 Bedroom / 2 Bath and 33-3 Bedroom / 2 Bath units. All units have central heat and air, electric stoves, individual hot water heaters, walk-in closets and private porch/balconies. Amenities on-site, include a clubhouse, pool, fitnees room, mail kiosk, maintenance storage, laundry facilities, tennis and basketball courts, children's playground and riverfront dock. has seen continued upgrades both inside and out. With over 200 of the 260 units remodeled with new white kitchen cabinets, above stove microwaves, tile and vinyl, new sliding closet doors, and many other upgrades to make one of the superior properties in this sub-market. From the moment you drive through the guard house this property suggests a feel for quality living. The club house and pool have been been remodeled to exude a high standard. Starting with the water front deck, Mexican tile, flat screen TV, new kitchen, fitness room and private offices. Prospective residents feel like they have come to a much newer community. At this time is being operated similar to a conventional property. At present it is not being annually reviewed by Florida Housing. A new owner can continue to operate in this fashion if they desire or at any time bring the property back into compliance with the state to meet its LURA. The Apartments of is a stable community, extremely well run, available today at a price significantly below replacement cost. We are ready to discuss the opportunity with you in greater detail as it is one of the nicest properties on the market today, considering it's income and condition. Property Description This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Purchaser must verify the information and bears all risk for any inaccuracies. Franklin Street Real Estate Services, LLC

Investment Overview Location Overview Description The Apartments of is a 260 unit apartment community located in Hillsborough County in Tampa, FL. is located on the Hillsborough River in the center of Tampa. It's central location provides residents easy access to I-4, 1-75 and I-275, making all areas of Tampa accessible. It is also located near many major attractions, such as Busch Gardens, Raymond James Stadium, Legends Field, and Tampa International Airport. Property Description This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Purchaser must verify the information and bears all risk for any inaccuracies. Franklin Street Real Estate Services, LLC

Salient Facts Location & Parcel ID Address 4102 Oak Knoll Court Site Description City, State, ZIP Tampa, FL 33610 County Parcel/Folio Hillsborough A-33-28-19-ZZZ-000005-70690.0 Number of Units 260 Number of Buildings 18 Number of Stories 2 Year Built 1974 Rentable SF 217,927 Lot Size 15.51 Acres +/- Property Description Construction Framing Exterior Wall Parking Surface Roof Structure Roof Cover HVAC Fire Protection Concrete Block Masonry Stucco Asphalt Pitched Composite Shingles Central Locally Monitored This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Purchaser must verify the information and bears all risk for any inaccuracies. Franklin Street Real Estate Services, LLC

Aerial Property Description This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Purchaser must verify the information and bears all risk for any inaccuracies. Franklin Street Real Estate Services, LLC

Area Maps Property Description This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Purchaser must verify the information and bears all risk for any inaccuracies. Franklin Street Real Estate Services, LLC

Floor Plan Property Description This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Purchaser must verfiy the information and bears all risk for any inaccuracies. Franklin Street Real Estate Services, LLC

Additional Property Photos Property Description This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Purchaser must verfiy the information and bears all risk for any inaccuracies. Franklin Street Real Estate Services, LLC

Tampa, FL 33610 4102 Oak Knoll Court PRICING & FINANCIAL ANALYSIS

Tenant Mix Current Pro Forma # Units Unit Type Sf Low High Avg. Rent $/ SF Monthly Rent $/ SF Monthly 98 1Bdr 1Bath 690 $550 $600 $575 $0.83 $56,350 $610 $0.88 $59,780 77 2Bdr 1Bath 865 $650 $700 $675 $0.78 $51,975 $700 $0.81 $53,900 52 2Bdr 2Bath 890 $700 $730 $715 $0.80 $37,180 $750 $0.84 $39,000 33 3Bdr 2Bath 1,134 $855 $900 $878 $0.77 $28,958 $900 $0.79 $29,700 Pricing & Financial Analysis 260 Total/Averages 217,927 $671 $0.80 $174,463 $701 $0.84 $182,380 Pro Forma Rent Increase(Decrease) 4% *Select Units are still renting under Florida Hosuing Discount Rents 12.69% 20.00% 29.62% 37.69% 1Bdr 1Bath 2Bdr 1Bath 2Bdr 2Bath 3Bdr 2Bath This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Purchaser must verfiy the information and bears all risk for any inaccuracies. Franklin Street Real Estate

Income and Expenses 1st Qtr 2011 Annualized Pro Forma INCOME % Per Unit Annual % Per Unit Annual Gross Potential Rent $8,052 $2,093,550 $8,418 $2,188,560 Gain (Loss) To Lease -2.80% -$225 ($58,533) -2.00% -$168 ($43,771) Forfitted Deposits 1.68% $135 $35,122 1.60% $135 $35,122 Late Fee Income 0.85% $68 $17,763 0.81% $68 $17,763 Laundry Income 0.54% $44 $11,406 0.52% $44 $11,406 Cable Comm. 0.41% $33 $8,580 0.39% $33 $8,580 Misc Income 0.22% $17 $4,521 0.21% $17 $4,521 Gross Potential Income $8,125 $2,112,409 $8,547 $2,222,181 Less Vacancy 10.00% -$805 ($209,355) 8.00% -$673 ($175,085) Concessions 3.00% -$242 ($62,807) 3.00% -$253 ($65,657) Employee Apartment 1.00% -$81 ($20,936) 1.00% -$84 ($21,886) Total Economic Loss 14.00% -$1,127 ($293,097) 12.00% -$1,010 ($262,627) Effective Gross Income $6,997 $1,819,312 $7,537 $1,959,554 EXPENSES *Taxes 11.45% $347 $90,191 12.57% $500 $130,000 Insurance 5.23% $159 $41,231 12.57% $500 $130,000 Utilities 25.44% $771 $200,433 19.36% $770 $200,200 Contract Services 11.65% $353 $91,799 9.19% $365 $95,000 Pricing & Financial Analysis Repairs & Maintenance 12.83% $389 $101,051 10.06% $400 $104,000 Management (3% of EGI) 0.00% $0 $0 5.69% $226 $58,787 Salaries & Wages 25.31% $767 $199,376 20.12% $800 $208,000 General & Administrative 4.66% $141 $36,749 2.90% $115 $30,000 Marketing & Leasing 3.43% $104 $27,032 2.51% $100 $26,000 Reserves & Replacements 0.00% $0 $0 5.03% $200 $52,000 Total Expenses $3,030 $787,862 $3,977 $1,033,987 Net Operating Income $1,031,450 $925,567 Current Year Taxable Value $4,595,700 Current Year Millage Rate 21.4492 *Pro Forma Taxes are based on 80% of List Price x 2010 Mill Rate Note: Pro Forma Insurance expense was adjusted upward to a realistic rate. Note: A Management Fee & a Reserve Expense was added to Pro Forma Expenses This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Purchaser must verfiy the information and bears all risk for any inaccuracies. Franklin Street Real Estate Services, LLC

Pricing List Price $9,200,000 Down Payment 40% $3,680,000 First Trust/ Mortgage Interest Rate Amortization Months $5,520,000 6.50% 360 1st Qtr 2011 Annualized Pro Forma NET OPERATING INCOME $1,031,450 $925,567 CASH FLOW ANALYSIS Debt Service ($418,682) ($418,682) Debt Coverage Ratio 2.46 2.21 NCF After Debt Service $612,768 $506,885 Leveraged Return% 16.65% 13.77% Pricipal Reduction $61,698 $61,698 Total Return $674,466 $568,584 Total Return% 18.33% 15.45% VALUE INDICATORS Cap Rate 11.21% 10.06% Pricing & Financial Analysis Gross Rent Multiplier 4.36 4.14 Price/ Unit $35,385 Price/ SF $42.22 This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age

Tampa, FL 33610 4102 Oak Knoll Court SALES COMPARABLES

SALES COMPARABLES Price Per Square Foot Price Per Unit Price Per Unit $90,000 $80,000 $70,000 Cap Rate $60,000 $50,000 $40,000 $30,000 $20,000 $10,000 $0 Subject 1 2 3 4 5 6 7 Price Per Square Foot $90.00 $80.00 $70.00 $60.00 $50.00 $40.00 $30.00 $20.00 $10.00 $0.00 Subject 1 2 3 4 5 6 7 This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Purchaser must verfiy the information and bears all risk for any inaccuracies. Franklin Street Real Estate Services, LLC

Sale Comparables Price Per Square Foot Price Per Unit Cap Rate # Property Name Subject 1 Arbor Walk 2 Hidden River 3 Gardens at Temple Terrace 4 Hickory Pointe 5 Johnson & Kenneth Court Apartments 6 Puritan Place 7 Doral Oaks This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Purchaser must verfiy the information and bears all risk for any inaccuracies. Franklin Street Real Estate Services, LLC

SALES COMPARABLES Property Price Total Square Cost Per GRM CAP Cost Per Exp Exp N.O.I. N.O.I. Units Footage Sq Ft Unit Per Unit Sq Ft Per Unit Sq Ft $9,200,000 260 217,927 $42.22 4.14 10.06% $35,385 $3,977 $4.74 $3,560 $4.25 4102 Oak Knoll Court Tampa, FL 33610 UNIT MIX: 98 1Bdr 1Bath 33 3Bdr 2Bath YEAR BUILT: 1974 77 2Bdr 1Bath CLOSING DATE: On Market 52 2Bdr 2Bath Subject COMMENTS: Arbor Walk $19,170,000 230 213,715 $89.70 $83,348 4121 East Busch Blvd Tampa, FL 33617 UNIT MIX: 96 1Bdr YEAR BUILT: 2006 134 2Bdr CLOSING DATE: Dec-10 Comparable 1 COMMENTS: Hidden River $4,075,000 232 196,460 $20.74 $17,565 8024 Hidden River Dr. Tampa, FL 33617 UNIT MIX: 108 1Bdr YEAR BUILT: 1973 56 2Bdr CLOSING DATE: Dec-10 56 3Bdr Comparable 2 COMMENTS: Gardens at Temple Terrace $5,150,000 128 251,904 $20.44 $40,234 5518 Terrace Court Tampa, FL 33617 UNIT MIX: 36 1Bdr YEAR BUILT: 1968 92 2Bdr CLOSING DATE: On Market Comparable 3 COMMENTS: This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Purchaser must verfiy the information and bears all risk for any inaccuracies. Franklin Street Real Estate Services, LLC

SALES COMPARABLES Property Price Total Square Cost Per GRM CAP Cost Per Exp Exp N.O.I. N.O.I. Units Footage Sq Ft Unit Per Unit Sq Ft Per Unit Sq Ft Hickory Pointe $3,200,000 160 160,608 $19.92 $20,000 5013 E Sligh Avenue Tampa, FL 33617 UNIT MIX: YEAR BUILT: 1982 152 2Bdr CLOSING DATE: Nov-10 8 3Bdr Comparable 4 COMMENTS: Johnson & Kenneth Court Apartments $8,800,000 200 160,900 $54.69 $44,000 5711 Tray Court & 4205 Kenneth Court Tampa, FL 33610 UNIT MIX: 33 1Bdr YEAR BUILT: 1971 & 1976 127 2Bdr CLOSING DATE: Jun-10 40 3Bdr Comparable 5 COMMENTS: Franklin Street Sale Puritan Place $5,000,000 232 202,577 $24.68 $21,552 7903 A Holly Lea Court Tampa, FL 33617 UNIT MIX: 128 1Bdr YEAR BUILT: 1974 70 2Bdr CLOSING DATE: On Market 24 3Bdr Comparable 6 COMMENTS: Franklin Street Listing Doral Oaks $16,000,000 252 263,560 $60.71 $63,492 105 Sunnyside Rd Tampa, FL 33617 UNIT MIX: 60 1Bdr YEAR BUILT: 1967 180 2Bdr CLOSING DATE: On Market 12 3Bdr Comparable 7 COMMENTS: This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Purchaser must verfiy the information and bears all risk for any inaccuracies. Franklin Street Real Estate Services, LLC

Tampa, FL 33610 4102 Oak Knoll Court RENT COMPARABLES

Rent Comparables Summary Property Name Unit Type Unit Mix % of Total Avf SF Total Sf Market Rent Eff Rent Eff Per SF Riverview 1Bdr 1Bath 140 47% 894 125160 $691 $650 $0.73 Hidden River 1Bdr 1Bath 58 24% 765 44370 $700 $625 $0.82 1Bdr 1Bath 98 38% 690 67620 $572 $572 $0.83 Rivertree Landing 1Bdr 1Bath 16 7% 800 12800 $595 $527 $0.66 Hidden River 1Bdr 1Bath 42 18% 663 27846 $594 $525 $0.79 Royal Parc 1Bdr 1Bath 11 3% 871 9581 $680 $505 $0.58 Courtyards on the River 1Bdr 1Bath 56 18% 688 38528 $500 $500 $0.73 Puritan Place 1Bdr 1Bath 86 37% 766 65876 $640 $499 $0.65 Royal Parc 1Bdr 1Bath 17 5% 839 14263 $670 $495 $0.59 Rivertree Landing 1Bdr 1Bath 99 43% 800 79200 $535 $486 $0.61 Royal Parc 1Bdr 1Bath 122 38% 678 82716 $660 $465 $0.69 Royal Parc 1Bdr 1Bath 12 4% 624 7488 $650 $455 $0.73 Puritan Place 1Bdr 1Bath 34 15% 662 22508 $625 $450 $0.68 Riverview 2Bdr 2Bath 24 8% 1565 37560 $949 $887 $0.57 Cap Rate Courtyards on the River 2Bdr 2.5Bath 24 8% 1312 31488 $850 $850 $0.65 Hidden River 2Bdr 2Bath 32 13% 1050 33600 $885 $764 $0.73 Rivertree Landing 2Bdr 2Bath 60 26% 1165 69900 $800 $724 $0.62 Courtyards on the River 2Bdr 2Bath 40 13% 1030 41200 $715 $715 $0.69 2Bdr 2Bath 52 20% 890 46280 $713 $713 $0.80 Hidden River 2Bdr 1Bath 28 12% 858 24024 $760 $694 $0.81 Riverview 2Bdr 1Bath 40 14% 1132 45280 $719 $676 $0.60 Puritan Place 2Bdr 1Bath 32 14% 901 28832 $765 $665 $0.74 Puritan Place 2Bdr 2Bath 32 14% 1050 33600 $840 $665 $0.63 Rivertree Landing 2Bdr 1Bath 44 19% 1065 46860 $725 $665 $0.62 2Bdr 1Bath 77 30% 865 66605 $662 $662 $0.77 Courtyards on the River 2Bdr 1Bath 136 45% 963 130968 $650 $650 $0.67 Royal Parc 2Bdr 2Bath 21 6% 960 20160 $850 $638 $0.66 Royal Parc 2Bdr 1Bath 141 44% 906 127746 $800 $598 $0.66 Rivertree Landing 3Bdr 2Bath 8 4% 1405 11240 $950 $862 $0.61 3Bdr 2Bath 33 13% 1134 37422 $835 $835 $0.74 Courtyards on the River 3Bdr 2 Bath 48 16% 1340 64320 $825 $825 $0.62 Hidden River 3Bdr 2Bath 56 23% 1150 64400 $985 $824 $0.72 Puritan Place 3Bdr 2Bath 24 10% 1169 28056 $985 $799 $0.68 Riverview 3Bdr 3Bath 92 31% 1365 125580 $759 $712 $0.52 This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Purchaser must verfiy the information and bears all risk for any inaccuracies. Franklin Street Real Estate Services, LLC

RENT COMPARABLES Price Per Square Foot Price Per Unit Cap Rate # Property Name Subject 1 Puritan Place 2 Hidden River 3 Royal Parc 4 Rivertree Landing 5 Riverview 6 Courtyards on the River This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Purchaser must verfiy the information and bears all risk for any inaccuracies. Franklin Street Real Estate Services, LLC

Rent Comparable - Subject 4102 Oak Knoll Court Tampa, FL 33610 Number Of Units 260 Occupancy 88% Unit Type Unit Mix % of Total Avf SF Total Sf Market Rent Eff Rent Eff Per SF Eff. Monthy 1Bdr 1Bath 98 38% 690 67,620 $600 $550 $0.80 $53,900 2Bdr 1Bath 77 30% 865 66,605 $700 $662 $0.77 $50,974 2Bdr 2Bath 52 20% 890 46,280 $730 $713 $0.80 $37,076 3Bdr 2Bath 33 13% 1,134 37,422 $900 $835 $0.74 $27,555 Rent Comparables Totals/Averages 260 100% 838 217,927 $694 $652 $0.78 $169,505 The current concession is reduced rental rates. Waster/Sewer is included in rent. There is a laundry facility on-site. There are Washer/Dryer connections in select units & the Washer/Dryer rents for $100 a month. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Purchaser must verify the information and bears all risk for any inaccuracies. Franklin Street Real Estate Services, LLC

Rent Comparable 1 Puritan Place 7903 Holly Lea Court Tampa, FL 33617 Number Of Units 232 Occupancy 87% Unit Type Unit Mix % of Total Avf SF Total Sf Market Rent Eff Rent Eff Per SF Eff. Monthy Studio 8 3% 529 4,232 $520 $450 $0.85 $3,600 1Bdr 1Bath 34 15% 662 22,508 $625 $450 $0.68 $15,300 1Bdr 1Bath 86 37% 766 65,876 $640 $499 $0.65 $42,914 2Bdr 1Bath 32 14% 901 28,832 $765 $665 $0.74 $21,280 2Bdr 2Bath 32 14% 1,050 33,600 $840 $665 $0.63 $21,280 2Bdr 2Bath TH 16 7% 1,196 19,136 $865 $499 $0.42 $7,984 3Bdr 2Bath 24 10% 1,169 28,056 $985 $799 $0.68 $19,176 Rent Comparables Totals/Averages 232 100% 872 202,240 $670 $567 $0.65 $131,534 The current concession is $99 move in special and reduced rates as shown in the effective rent. There is a laundry facility on-site. Water/Sewer is included in rent. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Purchaser must verify the information and bears all risk for any inaccuracies. Franklin Street Real Estate Services, LLC

Rent Comparable 2 Hidden River 8024 Hidden River Dr. Tampa, FL 33617 Number Of Units 240 Occupancy 60% Unit Type Unit Mix % of Total Avf SF Total Sf Market Rent Eff Rent Eff Per SF Eff. Monthy Efficiency 16 7% 530 8,480 $575 $500 $0.94 $8,000 Rent Comparables 1Bdr 1Bath 42 18% 663 27,846 $594 $525 $0.79 $22,050 1Bdr 1Bath 58 24% 765 44,370 $700 $625 $0.82 $36,250 2Bdr 1Bath 28 12% 858 24,024 $760 $694 $0.81 $19,432 2Bdr 2Bath 32 13% 1,050 33,600 $885 $764 $0.73 $24,448 3Bdr 2Bath 56 23% 1,150 64,400 $985 $824 $0.72 $46,144 3Bdr 2.5Bath 8 3% 1,553 12,424 $985 $824 $0.53 $6,592 Totals/Averages 240 100% 896 215,144 $748 $679 $0.76 $162,916 There is a $99 security deposit and reduced rates are shown as effective rents. Water/Sewer is included in rent. There are washer/dryer stacks in 2Bdr and 3Bdr units. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Purchaser must verify the information and bears all risk for any inaccuracies. Franklin Street Real Estate Services, LLC

Rent Comparable 3 Royal Parc 6919 Bonair Dr. Tampa, FL 3367 Number Of Units 324 Occupancy 87% Unit Type Unit Mix % of Total Avf SF Total Sf Market Rent Eff Rent Eff Per SF Eff. Monthy 1Bdr 1Bath 12 4% 624 7,488 $650 $455 $0.73 $5,460 Rent Comparables 1Bdr 1Bath 122 38% 678 82,716 $660 $465 $0.69 $56,730 1Bdr 1Bath 17 5% 839 14,263 $670 $495 $0.59 $8,415 1Bdr 1Bath 11 3% 871 9,581 $680 $505 $0.58 $5,555 2Bdr 1Bath 141 44% 906 127,746 $800 $598 $0.66 $84,318 2Bdr 2Bath 21 6% 960 20,160 $850 $638 $0.66 $13,398 Totals/Averages 324 100% 809 261,954 $734 $537 $0.66 $173,876 Concession includes $100 off 1st months rent. Water/Sewer is included in rent. There is a laundry facility onsite and select units have washer/dryer hookups. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Purchaser must verify the information and bears all risk for any inaccuracies. Franklin Street Real Estate Services, LLC

Rent Comparable 4 Rivertree Landing 6909 Indian River Dr. Tampa, FL 33617 Number Of Units 228 Occupancy 75% Unit Type Unit Mix % of Total Avf SF Total Sf Market Rent Eff Rent Eff Per SF Eff. Monthy Efficiency 1 0% 350 350 $350 $321 $0.92 $321 Rent Comparables 1Bdr 1Bath 99 43% 800 79,200 $535 $486 $0.61 $48,114 1Bdr 1Bath 16 7% 800 12,800 $595 $527 $0.66 $8,432 2Bdr 1Bath 44 19% 1,065 46,860 $725 $665 $0.62 $29,260 2Bdr 2Bath 60 26% 1,165 69,900 $800 $724 $0.62 $43,440 3Bdr 2Bath 8 4% 1,405 11,240 $950 $862 $0.61 $6,896 Totals/Averages 228 100% 966 220,350 $659 $599 $0.62 $136,463 The current concession is reduced rents and 1 month free on a 12 month lease. Water/Sewer is paid by the tenant. There is a laundry facility on-site and connection in the 3 Bdr units. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Purchaser must verify the information and bears all risk for any inaccuracies. Franklin Street Real Estate Services, LLC

Rent Comparable 5 Riverview 5659 Del Prado Dr. Tampa, Fl 33617 Number Of Units 296 Occupancy 93% Unit Type Unit Mix % of Total Avf SF Total Sf Market Rent Eff Rent Eff Per SF Eff. Monthy 1Bdr 1Bath 140 47% 894 125,160 $691 $650 $0.73 $91,000 Rent Comparables 2Bdr 1Bath 40 14% 1,132 45,280 $719 $676 $0.60 $27,040 3Bdr 3Bath 92 31% 1,365 125,580 $759 $712 $0.52 $65,504 2Bdr 2Bath 24 8% 1,565 37,560 $949 $887 $0.57 $21,288 Totals/Averages 296 100% 1,127 333,580 $737 $692 $0.61 $204,832 The current concession is $199 move in special. Water/Sewer is paid by tenant. There are two laundry facilities on-site and washer/dryer stacks are included in 3Bdr units. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Purchaser must verify the information and bears all risk for any inaccuracies. Franklin Street Real Estate Services, LLC

Rent Comparable 6 Courtyards on the River 8412 Rio Bravo Ct. Tampa, FL 33617 Number Of Units 304 Occupancy 83% Unit Type Unit Mix % of Total Avf SF Total Sf Market Rent Eff Rent Eff Per SF Eff. Monthy 1Bdr 1Bath 56 18% 688 38,528 $500 $500 $0.73 $28,000 2Bdr 1Bath 136 45% 963 130,968 $650 $650 $0.67 $88,400 2Bdr 2Bath 40 13% 1,030 41,200 $715 $715 $0.69 $28,600 3Bdr 2 Bath 48 16% 1,340 64,320 $825 $825 $0.62 $39,600 2Bdr 2.5Bath 24 8% 1,312 31,488 $850 $850 $0.65 $20,400 Rent Comparables Totals/Averages 304 100% 1,008 306,504 $674 $674 $0.67 $205,000 The current concession are reduced rates. Water/Sewer is an additional fee paid by tenant, $35, $30, $45, $50 & $55 respectively. There is a laundry facility on-site and for $100 extra, select units have W/D. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Purchaser must verify the information and bears all risk for any inaccuracies. Franklin Street Real Estate Services, LLC

Tampa, FL 33610 4102 Oak Knoll Court DEMOGRAPHICS

Demographics 1 Mile 3 Mile 5 Mile Population 2009 Total Daytime Population 10,967 103,151 282,860 2009 Total Daytime Work Population 4,010 46,629 145,784 2009 Median Age Total Population 31 31 31 2009 Median Age Adult Population 43 41 40 2009 Male Population 6,679 49,982 126,663 2009 Female Population 7,795 54,792 133,517 % 2009 Male Population 46.14% 47.70% 48.68% % 2009 Female Population 53.86% 52.30% 51.32% 2009 Total Adult Population 9,882 73,840 192,255 Population Change Total Employees n/a n/a n/a Total Establishments n/a n/a n/a 2009 Total Population 14,474 104,775 260,180 2009 Total Households 5,716 41,244 105,429 Population Change 1990-2009 1,358 9,052 30,568 Household Change 1990-2009 706 4,442 14,148 % Population Change 1990-2009 10.35% 9.46% 13.31% % Household Change 1990-2009 14.09% 12.07% 15.50% Population Change 2000-2009 1,544 6,563 15,801 Household Change 2000-2009 749 3,940 9,281 % Population Change 2000-2009 11.94% 6.68% 6.47% % Households Change 2000-2009 15.08% 10.56% 9.65% Demographic Analysis Housing 2000 Total Housing Units 5,452 41,243 105,431 2000 Occupied Housing Units 4,959 37,404 96,120 2000 Owner Occupied Housing Units 2,817 21,050 47,355 2000 Renter Occupied Housing Units 2,141 16,355 48,766 2000 Vacant Housing Units 494 3,838 9,311 % 2000 Occupied Housing Units 90.96% 90.69% 91.17% % 2000 Owner Occupied Housing Units 51.67% 51.04% 44.92% % 2000 Renter Occupied Housing Units 39.27% 39.66% 46.25% % 2000 Vacant Housing Units 9.06% 9.31% 8.83% Income 2009 Median Household Income $30,759 $33,358 $33,898 2009 Per Capita Income $16,876 $18,799 $20,680 2009 Average Household Income $42,734 $47,757 $51,034 This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Purchaser must verfiy the information and bears all risk for any inaccuracies. Franklin Street Real Estate Services, LLC

Demographics 1 Mile 3 Mile 5 Mile Retail Sales Volume 2009 Children/Infants Clothing Stores $1,437,570 $11,760,104 $32,425,999 2009 Jewelry Stores $1,072,095 $8,818,992 $24,226,023 2009 Mens Clothing Stores $2,429,208 $18,956,955 $52,213,864 2009 Shoe Stores $2,192,259 $17,316,868 $47,826,053 2009 Womens Clothing Stores $4,690,522 $35,860,456 $98,738,813 2009 Automobile Dealers $25,890,795 $226,146,713 $621,353,595 2009 Automotive Parts/Acc/Repair Stores $3,391,767 $27,895,283 $76,737,154 2009 Other Motor Vehicle Dealers $1,069,713 $8,489,574 $23,416,057 2009 Tire Dealers $878,512 $7,313,975 $20,085,004 2009 Hardware Stores $317,503 $3,059,920 $8,765,207 2009 Home Centers $3,090,235 $25,765,753 $71,287,510 2009 Nursery/Garden Centers $869,828 $7,474,390 $20,509,538 2009 Outdoor Power Equipment Stores $289,754 $2,931,862 $8,020,761 2009 Paint/Wallpaper Stores $117,262 $1,007,034 $2,770,455 2009 Appliance/TV/Other Electronics Stores $2,670,177 $20,988,841 $57,805,612 2009 Camera/Photographic Supplies Stores $439,988 $3,590,291 $9,895,766 2009 Computer/Software Stores $1,419,544 $11,432,887 $31,479,380 2009 Beer/Wine/Liquor Stores $1,599,103 $12,937,785 $35,699,916 2009 Convenience/Specialty Food Stores $3,028,265 $23,644,556 $67,044,219 2009 Restaurant Expenditures $12,745,480 $103,273,766 $295,957,193 2009 Supermarkets/Other Grocery excl Conv $19,224,835 $157,314,084 $433,568,760 2009 Furniture Stores $2,705,308 $22,097,409 $60,817,119 2009 Home Furnishings Stores $1,710,784 $13,493,925 $37,256,628 2009 Gen Merch/Appliance/Furniture Stores $24,710,302 $198,531,952 $546,784,175 2009 Gasoline Stations w/ Convenience Stores $17,021,030 $128,542,445 $356,407,003 2009 Other Gasoline Stations $13,992,764 $104,897,892 $289,362,787 2009 Department Stores excl Leased Depts $27,380,478 $219,520,799 $604,589,795 2009 General Merchandise Stores $22,004,994 $176,434,549 $485,967,062 2009 Other Health/Personal Care Stores $1,749,396 $14,933,001 $41,042,769 2009 Pharmacies/Drug Stores $9,310,997 $76,287,662 $210,090,937 2009 Pet/Pet Supplies Stores $1,431,407 $11,412,662 $31,483,646 2009 Book/Periodical/Music Stores $828,850 $5,076,801 $13,964,952 2009 Hobby/Toy/Game Stores $558,429 $5,730,818 $15,685,971 2009 Musical Instrument/Supplies Stores $237,178 $1,997,997 $5,493,916 2009 Sewing/Needlework/Piece Goods Stores $118,945 $816,537 $2,255,645 2009 Sporting Goods Stores $1,329,149 $9,188,050 $25,610,217 2009 Video Tape Stores - Retail $217,553 $1,769,772 $4,872,165 Demographic Analysis This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Purchaser must verfiy the information and bears all risk for any inaccuracies. Franklin Street Real Estate Services, LLC

Tampa, FL 33610 4102 Oak Knoll Court Exclusively Listed By: Franklin Street Real Estate Services, LLC 500 N. Westshore Blvd. Suite 750 Tampa, FL 33609 Main: 813-839-7300 www.franklinstreetfinancial.com Bob Goldfinger Managing Director Franklin Street Real Estate robert.goldfinger@fsfp.com Darron Kattan Managing Director Franklin Street Real Estate darron.kattan@fsfp.com Kevin Kelleher Director Franklin Street Real Estate kevin.kelleher@fsfp.com