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TAMPA-ST. PETE DEVELOPMENT CONFERENCE

TAMPA-ST. PETE DEVELOPMENT CONFERENCE. Nicholas Husak Engler Financial Group. Overview. EFG Introduction Investment Sales Update Sourcing JV Development Equity. 2012 TAMPA ST. PETE DEV CONFERENCE. Raising JV Development Equity. DEVELOPER. EQUITY PARTNER.

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TAMPA-ST. PETE DEVELOPMENT CONFERENCE

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  1. TAMPA-ST. PETE DEVELOPMENT CONFERENCE Nicholas Husak Engler Financial Group

  2. Overview EFG Introduction Investment Sales Update Sourcing JV Development Equity 2012 TAMPA ST. PETE DEV CONFERENCE

  3. Raising JV Development Equity DEVELOPER EQUITY PARTNER 2012 TAMPA ST. PETE DEV CONFERENCE JV Development Update

  4. Investment Sales Activity Tampa, FL 2012 TAMPA ST. PETE DEV CONFERENCE Investment Sales Update

  5. Seneca at Cypress Creek Tampa, FL 2012 TAMPA ST. PETE DEV CONFERENCE Investment Sales Update

  6. Investment Sale Seneca at Cypress Creek Tampa, FL DEAL SPECIFICS Broker Sale Date Year Built No. of Units Average Sq. Ft. In Place Effective Rent Rent/Sq. Ft. Price/Unit Cap Rate (T3 Inc./T12 Exp.) EFG Sept 2012 2010 451 1059 $1,134 $1.07 $138,027 5.35% 2012 TAMPA ST PETE DEV CONFERENCE Investment Sales Update

  7. Investment Sale Villas at Gateway St. Petersburg, FL 2012 TAMPA ST. PETE DEV CONFERENCE Investment Sales Update

  8. Investment Sale Villas at Gateway St. Petersburg, FL DEAL SPECIFICS Broker Sales Date Year Built No. of Units Average Sq. Ft. In Place Effective Rent Rent/Sq. Ft. Price/Unit Cap Rate (T3 Inc./T12 Exp.) EFG Nov 2012 2004 300 994 $1078 $1.08 $120,000 5.25% 2012 TAMPA ST PETE DEV CONFERENCE Investment Sales Update

  9. Investment Sale Estates at Countryside Clearwater, FL 2012 TAMPA ST. PETE DEV CONFERENCE Investment Sales Update

  10. Investment Sale Estates at Countryside Clearwater, FL DEAL SPECIFICS Broker Sales Date Year Built No. of Units Average Sq. Ft. In Place Effective Rent Rent/Sq. Ft. Price/Unit Cap Rate (T3 Inc./T12 Exp.) EFG Nov 2012 1998 320 1000 $865 $0.86 $92,187 5.40% 2012 TAMPA ST PETE DEV CONFERENCE Investment Sales Update

  11. Pier House Developed by Related Group of Florida Tampa, FL 2012 TAMPA ST. PETE DEV CONFERENCE JV Development Update

  12. Bayway Apartments Developed by MCRT St. Petersburg, FL 2012 TAMPA ST. PETE DEV CONFERENCE JV Development Update

  13. Broadstone Hyde Park Developed by Alliance Residential Tampa, FL 2012 TAMPA ST. PETE DEV CONFERENCE JV Development Update

  14. JV DEVELOPMENT EQUITY Market Terms Southeast US Q 4 2012 Return on Cost Debt Equity Coinvestment (Dev Equity) Returns / Promotes 6.5 - 7.75% 55 - 70% 30 - 45% 5 - 20% 8 – 10% Pref 70 / 30 to a 15-17% 60 / 40 to a 17-20% 50 / 50 thereafter 2012 TAMPA ST. PETE DEV CONFERENCE JV Development Update

  15. JV DEVELOPMENT EQUITY Market Terms Southeast US Q 4 2012 Put / Call Completion Guarantee Post Completion Guarantees Development Fees GC Fees Management Fees Yes Yes Yes 3-5% 5-6% 3% 2012 TAMPA ST. PETE DEV CONFERENCE JV Development Update

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