Crosswinds Apartments

Crosswinds Apartments | OFFERING MEMORANDUM

RENT COMPARABLES SUMMARY

PROPERTIES SORTED BY UNIT RENT

MILES TO SUBJECT

AFFORDABILITY PROGRAM

AMI RESTRICTIONS

YEAR BUILT

AVG. SF

AVG. RENT $1,575 $1,649 $1,490 $1,225 $1,130 $1,056

AVG. RENT/SF VACANCY

PROPERTY NAME

ADDRESS

The Morgan

111 Gateway Court 745 Eden Way N. 124 Fairwind Drive 1314 Kingston Way 200 Red Cedar Court 301 Oak Lake Way 704 Gainsborough Court 749 Green Tree Circle 717 Hunters Bridge Drive

3.2 2.7 5.2 3.2 3.3 4.1 4.8 4.3 4.4

MKT MKT MKT MKT MKT MKT

- - - - - -

2011 2012 2009 1976 1986 1990 1980 1990 1994

809 776 815 817 900 862 620 638 800

$1.95 $2.13 $1.83 $1.50 $1.26 $1.23 $1.60 $1.45 $1.10 $1.12 $1.56 $1.92 $1.53 $1.57 $1.43 $1.31 $1.08 $1.17 $1.17 $1.05 $1.40 $1.79 $1.40 $1.35 $1.42 $0.97 $1.49

5% 5% 4% 0% 0% 1% 0% 8% 0% 6% 2% 5% 5% 4% 0% 0% 1% 8% 0% 6% 3% 5% 5% 4% 0% 6% 4%

1

Aura at Towne Place

2

Pillars at Great Bridge Apartments Greenbrier Woods on the Lake

3

4

ONE BEDROOM

The Cedars at Greenbrier

5

Oak Lake Apartments

6

Cambridge Square Apartments

LIHTC

Affordable

$993 $926 $879 $753

7

Green Tree Apartments Woodbridge Apartments Crosswinds Apartments

MKT MKT

- -

8

9

910 Providence Road

-

LIHTC

60% 1975/2004 670

AVERAGES:

3.9

1994

782

$1,214

Aura at Towne Place

745 Eden Way N. 111 Gateway Court 124 Fairwind Drive 1314 Kingston Way 200 Red Cedar Court 301 Oak Lake Way 749 Green Tree Circle 717 Hunters Bridge Drive

2.7 3.2 5.2 3.2 3.3 4.1 4.3 4.4

MKT MKT MKT MKT MKT MKT MKT MKT

- - - - - - - -

2012 2011 2009 1976 1986 1990 1990 1994

1,117 1,157 1,136

$2,146 $1,766 $1,781 $1,325 $1,242 $1,191 $1,083 $1,057

2

The Morgan

1

Pillars at Great Bridge Apartments Greenbrier Woods on the Lake

3

925 950

4

The Cedars at Greenbrier Oak Lake Apartments Green Tree Apartments Woodbridge Apartments Crosswinds Apartments

5

TWO BEDROOM

1,102

6

925 900

8

9

910 Providence Road

-

LIHTC

60% 1975/2004 840

$880

AVERAGES:

3.8

1996

1,027

$1,449

Aura at Towne Place

745 Eden Way N. 111 Gateway Court 124 Fairwind Drive 1314 Kingston Way 910 Providence Road

2.7 3.2 5.2 3.2

MKT MKT MKT MKT

- - - -

2012 2011 2009 1976

1,392 1,436 1,332 1,142 1,070 1,326

$2,493 $2,016 $1,799 $1,625 $1,035 $1,983

2

The Morgan

1

Pillars at Great Bridge Apartments Greenbrier Woods on the Lake

3

4

Crosswinds Apartments

-

LIHTC

60%

AVERAGES:

3.6

2002

THREE BEDROOM

| RENT COMPARABLES

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