| CREOP

CALL TO OFFERS - 9/24/21 - EMAIL OFFERS TO BRADY@GREATERDEVELOPMENT.NET Holiday Garden (64 units) and Barwin Place (48 units) are two multifamily properties located in Mount Clemens, Michigan. The properties which are 1 mile apart from each other, are 95% occupied grossing over $913,000 in revenue per year. The properties consist of an attractive unit mix of 4 studios, 64 one BR's (about 810 SF) and 42 two BR's (about 910 SF) at an average rent of $720 per unit in Holiday Garden, and $700 per unit in Barwin Place. Approximately 49 of the 112 units have some sort of renovation and have seen rent increases of over $100 per unit post renovation. Offers for the portfolio are encouraged, but will be considered on an individual basis. There is a loan assumption on Barwin Place that will likely need to occur, the balance is approximately $1.6MM. Holiday Garden Apartments is being offered free and clear. Supplemental loans are permitted with Barwin, and purchase price allocation between the assets is allowed in order to maximize leverage.

Several new developments are occurring within a 5 mile radius of the property. The Henry Ford Macomb County Hospital recently announced a $360MM addition to the campus which is a 10 minute drive from Holiday Gardens. McLaren Macomb Hospital also recently announced a new 65,000 square foot addition to their campus, which is two miles from the property. These additions will bring thousands of jobs to the area which will call for an increase in demand for work-force housing, along with an upward pressure on rents.