Project Beyond | Development Opportunities

ENTERPRISE CAPABILITIES

WE DEVELOP MORE THAN JUST GROUNDBREAKING COMMUNITIES.

leading real estate investor, use communities. We create high-quality, differentiated multifamily and commercial communities in many of the fastest growing markets in the United States. Since 1963, our development portfolio has included more than 83 multifamily communities and 24 million square feet of commercial space. Crescent Communities has offices in Charlotte, DC, Atlanta, Orlando, Nashville, Dallas, Denver, Phoenix and Salt Lake City. Our multifamily communities are branded NOVEL, RENDER and HARMON by Crescent Communities, our industrial developments are branded AXIAL by Crescent Communities, and our life science developments are branded THE YIELD by Crescent Communities.

TAKING THE RIGHT PATH OVER THE EASY ONE

DO WHAT’S RIGHT

BUILD COMMUNITY. BETTER PEOPLE’S LIVES.

Since our inception decades ago, Crescent Communities has embraced a long-term value approach to development that is focused on creating the most extraordinary places to live, work, and play. Through our commercial, multifamily, industrial and mixed use projects, we will continue to establish award-winning developments that endure and uphold our commitment to respecting the land and environment that has guided us since our company was formed in 1963.

OUR LEADERSHIP

OVER 155 YEARS OF COMBINED DEVELOPMENT EXPERTISE

Our team has over 155 years of combined development expertise and is led by a seasoned leadership team with extensive industry experience, a strong network of relationships and experience through multiple real estate cycles

spaces that have an unmatched sense of place.

Jay Curran President, Multifamily Jason Labonte Chief Investment Officer

Brian Natwick Chairman and CEO

Brendan Pierce President, Commercial Kevin Lambert Chief Financial Officer

Daniel Cooper President, Construction Tracy Chambers Chief People Officer

Heather Kels Chief Accounting Officer

Multifamily Communities

Past

ENTERPRISE SNAPSHOT

CULTURE-DRIVEN ORGANIZATION that attracts and engages industry leading talent across multiple product segments

OUR APPROACH to investment sourcing, planning and design, entitlement and execution creates market premiums and superior absorption

$7.3B

UNIQUE EXPERTISE and proprietary development processes deliver high-quality, differentiated developments in desirable locations with premium valuations

Dollar Volume $2.7B

Active Dollar Volume $2.5B

*NOVEL Midtown Atlanta Atlanta, GA

RENDER Covington Atlanta, GA

NOVEL West Midtown Atlanta, GA

NOVEL Harpeth Heights Bellevue, TN

*NOVEL University Place Charlotte, NC

*NOVEL Ballantyne Charlotte, NC

NOVEL Mallard Creek Charlotte, NC

*NOVEL Cary Raleigh, NC

NOVEL Morrisville Raleigh, NC

NOVEL Turtle Creek Dallas, TX

*NOVEL RiNo Denver, CO

*NOVEL Uptown Denver, CO

NOVEL White Farm Fence Denver, CO

*NOVEL River Oaks Houston, TX

Commercial Developments

*NOVEL Edgehill Nashville, TN

NOVEL Nona Orlando, FL

NOVEL Parkway Orlando, FL

NOVEL Beach Park Tampa, FL

NOVEL Indy Park Tampa, FL

*RENDER Legacy Trail Sarasota, FL

*NOVEL Val Vista Phoenix, AZ

*NOVEL Daybreak Salt Lake City, UT

HARMON Foxbank Charleston, SC

*HARMON Ballantyne Charlotte, NC

HARMON Five Points Charlotte, NC

*HARMON Legacy Trail Sarasota, FL

NOVEL Scott Addition Richmond, VA

*NOVEL 14th Street Washington, DC

Volume $2.5B

Active Dollar Volume $916MM

One Independence Center Charlotte, NC

Escent Research Park Charlotte, NC

FINANCIALLY AND CRITICALLY successful multifamily and commercial developments in multiple markets

SouthCourt Raleigh, NC

AXIAL Builders Solutions Group, Archdale, NC

$3.9B Active Development Future Pipeline

$3.4B

Carson & Tryon Charlotte, NC

AXIAL Bonds Farm Charlotte, NC

Elizabeth on Seventh Charlotte, NC

The River District Charlotte, NC

One University Place Charlotte, NC

THE YIELD Phase I Raleigh, NC

THE YIELD Phase II Raleigh, NC

AXIAL Crosspoint Greenville, SC

AXIAL Southgate 77, Rock Hill, SC

AXIAL 301 Manatee Tampa, FL

Heritage Park Phoenix, AZ

$1.39B

OUR FOOTPRINT & PLATFORM

HIGHLY DESIRABLE GEOGRAPHY.

17 Markets

9 Offices

Charlotte, NC

Raleigh, NC

Washington, DC

Richmond, VA

Greenville, SC

Integrated platform and expertise in sourcing, entitlement, design, finance, development, construction, amenity creation, marketing, leasing and asset management.

PURSUING A MORE THOUGHTFUL APPROACH TO DEVELOPMENT.

Crescent Communities embraces a fully integrated approach to development that is focused on creating the most extraordinary places to live. By finding new ways to make a difference in our consumer’s lives, we’ll continue to help connect people with their neighborhoods through programming and activities and uphold our commitment to respecting the land and environment that has guided the more than 69 signature multifamily communities we have completed to date.

A FOCUS ON PLACE MAKING WITH DELIBERATE USES TO BETTER LIVES.

More than 40% of our multifamily communities have embraced a mixed-use component. From food and beverage to soft goods to national grocers, we get to the core of what a community needs and deliver spaces that add to our residences, and the community.

Elizabeth on Seventh Charlotte, NC

CAPITAL PARTNERS

BUILDING ON MORE THAN 50 YEARS OF SUCCESS.

Crescent Communities is owned by Sumitomo Forestry America, Inc., a comprehensive housing and wood products corporation and wholly-owned subsidiary of Sumitomo Forestry Co., Ltd. Crescent Communities enjoys an improved capital structure with no corporate debt outstanding, approximately $600MM in total assets, $3.3 billion in total project capitalization, and $250MM in total liquidity to make substantial new investments.

Crescent Communities’ Capital Relationships

Include:

Ally Charlotte Center Charlotte, NC

OUR LEGACY

By

For over half a century, we have been dedicated to creating communities that are designed to prosper. Our company has grown each year because our developments have grown with us.

1939 Duke Power establishes a forestry department to steward 270,000 acres of undeveloped land

19 63-1969

Duke Power forestry department becomes known as South Carolina Land & Timber Company and then later renamed Crescent Land & Timber.

19 89 Crescent Land & Timber is renamed Crescent Resources as it begins to actively develop master-planned communities

19 90 Crescent Resources’ first commercial development, Coliseum Centre, breaks ground in Charlotte, NC

20 02

Crescent Resources’ first multifamily community, Crescent Crosstown, breaks ground in Tampa, FL

20 06

Crescent Resources becomes a separate entity as Duke Energy sells its majority stake

2 0 13 Crescent Resources rebrands to become Crescent Communities

2 0 17 Crescent Communities’ luxury multifamily brand, NOVEL, is established

2018 328-year-old, Tokyo-based Sumitomo Forestry becomes principal shareholder

2021 Portfolio expands with the launch of two additional brands:

RENDER, Mid-Market Multifamily HARMON, Single-Family Build-to-Rent

2022 Portfolio expands with the launch of Industrial brand, AXIAL

2023

Portfolio expands with the launch of Life Science brand, THE YIELD

looking to our past, we find inspiration for the future.

OVERVIEW

THE VISION

Combining a smart, curious and creative team with a rigorous, thoughtful and people -focused process, we put the customer experience at the forefront of developments creating office environments that balance the needs of companies and the expectations of team members resulting in compelling spaces and engaged workplace communities.

WHAT WE DO

We develop everything from creative office buildings to massive mixed-use developments.

Class A New Construction and Mixed - Use Creative Mass Timber Build - to - Suit Urban/Suburban Infill Acquisitions

1,400 Additional 1,400 acres of land at The River District masterplanned community to be developed with office, residential, and mixed-use components

Ally Charlotte Center Charlotte, NC Heritage Park Gilbert, AZ Carson & Tryon Charlotte, NC

Escent Research Park Charlotte,

on Seventh Charlotte, NC

Garren on Kimball Alpharetta, GA

OFFICE FOOTPRINT

SUBURBAN/URBAN

2.

VALUE-ADD

2.

AWARDS & ACCOLADES

Our most recent achievements.

ALLY CHARLOTTE CENTER

2021

• ABC Carolinas | Eagle Award

• Business NC Awards

• Charlotte Business Journal Heavy Hitters | Top Mixed-Use Development

• ENR Southeast | Best Project Award of Merit

• IIDA Carolina Design Works Award

• ULI Crane Watch

2022

• Aurora Awards | Best Commercial Project, Best Mixed-Use Project

• Sustain Charlotte | Charlotte Sustainability Awards

• USGBC North Carolina and USGBC South Carolina | Health and Well-Being Project Award

• USGBC North Carolina and USGBC South Carolina | People’s Choice Award

ELIZABETH ON SEVENTH

2022

• City of Charlotte & UNC Charlotte School of Architecture | Great Urban Architecture

MASS TIMBER

Crecent Communities’ commitment to a more sustainable development.

ALIGNMENT WITH CRESCENT COMMUNITIES MISSION & VALUES

Crescent Communities’ vision is to Build Community. Better People’s Lives. Together, with core values – Be Curious. Do What’s Right. Innovate Always. Deliver Excellence – we use our vision as a lens for guiding decision-making and employee well-being. Mass timber is an exclusive differentiator that aligns with key client criteria of today and into the future.

ALIGNMENT WITH PARENT COMPANY, SUMITOMO FORESTRY

Crescent Communities’ parent company, Sumitomo Forestry, based in Japan, has had significant success in overseas markets developing and constructing mass timber products. With a history of forestry and timber-frame construction, Sumitomo Forestry strongly believes in prioritizing the sustainability benefits attributed to mass timber and is advocating for implementation in the United States. As their only North American commercial development subsidiary, Crescent Communities is focused on identifying opportunities to incorporate the use of mass timber into office and mixed-use developments

Today, the consumer of office space is increasingly focused on finding wellpositioned, efficient, environmentally responsible, and unique product.

MARKETPLACE DIFFERENTIATOR

Exposed wood interiors differentiate properties from conventional counterparts.

FAST

CONSTRUCTION

25% faster than concrete construction with little-to-no waste and only renewable structural material

HEALTH BENEFITS

Biophilia (human tendency to interact with nature) is known to reduce stress, enhance creativity and clarity of thought

LIGHT & NIMBLE

Up to 80% lighter than concrete, providing a high strength-to-weight ratio, and reducing foundation costs

MARKETPLACE DIFFERENTIATOR

Exposed wood interiors differentiate properties from conventional counterparts

20%-30% FASTER THAN TRADITIONAL Faster than traditional materials due to prefabrication occurring offsite, and not needing to wait for concrete to cure

FLEXIBLE PLANS

Floor plans are ideal and flexible for open concept spaces

District Office, Portland, OR

Hotel Magdalen, Austin, TX

Adidas N.A. Headquarters, Portland, OR

CT7, Los Angeles, CA

Stamford Media Village, Stamford, CT

MASS TIMBER BENEFITS:

CONSTRUCTION

• A major attribute of mass timber construction is the ease of assembly, enhancing the speed of installation due to its prefabrication.

• Mass timber pieces come to sites already cut to the correct size, coordinated, and cored for building systems installation. The product is lightweight, allowing for smaller foundations and enabling manual installation without the use of cranes in many instances.

• Combining mass timber beams and ceilings with steel-and-concrete core elements provides cost and structural efficiencies.

With new code changes, mass timber buildings can be developed higher, larger and with greater versatility. Three new construction subtypes (IV A, B, C) are becoming widely adopted and have enabled mass timber buildings to break from the standard Type IV post and beam aesthetic to create a look independent of the structural system.

ENVIRONMENTAL IMPACT

• Reducedcarbonfootprint: A 66% reduction in CO2 compared with a steel equivalent, which to companies who have a strong environmental mission will be a powerful incentive to lease.

Mass timber buildings store carbon, preventing its release into the atmosphere. One pound of wood typically appropriates 1.8 pounds of carbon dioxide.

• Renewable resources from well-managed forests.

• Quiet site beneficial to the nearby public with little to no waste.

DESIGN & DURABILITY

• Using mass timber offers a unique draw with a base interior aesthetic not found in typical spec office for prospective tenant upfit, leading to reduced upfit costs on finish materials like paint.

• Mass timber performs well in fire design. The outer edges of the wood form a char layer, which maintains the structural integrity of the protected remaining cross section within.

BUILD-TO-SUIT OPPORTUNITIES

THE RIVER DISTRICT

Charlotte, NC

THE SOUL OF A CITY IN THE HEART OF NATURE. Let’s turn your vision into reality together. With over 1,400 acres available, we will find the perfect home for your company. LEARN

THE RIVER DISTRICT WILL BE A 1,400 - ACRE MASTER PLANNED COMMUNITY

CONNECTING COMMERCE AND NATURE

The River District will be home to innovative companies who challenge the status quo, draw inspiration from nature, and are committed to building a brighter and more sustainable future for generations to come.

NEXT BEST NEIGHBORHOOD

Charlotte neighborhoods and residences have distinct personalities and offer diverse housing options. The River District will be one of Charlotte’s most dynamic and vibrant neighbo rhoods and home to an eclectic mix of growing families, young professionals, and empty nesters.

THE RIVER DISTRICT IS LESS THAN FIVE MINUTES FROM CHARLOTTE DOUGLAS INTERNATIONAL AIRPORT

• Ranked among the 5th busiest airports in the world.

• Averaging 1,600 daily aircraft operations.

VISION

THE SOUL OF A CITY IN THE HEART OF NATURE

• 178 nonstop destinations and more than 50 million passengers annually.

THE RIVER DISTRICT COMBINES LUSH GREEN AND URBAN LANDSCAPES

• The Central Business District (Uptown) is only a short 15-minute drive away.

• 30 miles of moutnain biike trails and connected network.

• 2 acres of sustianable working farm with surrounding orchard.

5 BUILD TO SUIT LOCATIONS

FLEXIBLE

Ability to accommodate singular or diverse uses in variety of settings. Flexible deal structure with purchase and lease options.

ACCESSIBLE

Directly adjacent to I - 485 and CLT, and only 15 minutes from the Uptown Charlotte CBD.

COMMUTE WORTHY WITH NO COMMUTE NEEDED

With over 5,000 homes in the district, your commute worthy campus will be a quick bike ride away from your talent.

SMART CITY

Investing in the latest technology in a partnership with Duke Energy, Honeywell and others to ensure we are always one step ahead.

SUSTAINABLE

Pursing LEED for communities, multi - family, office, industrial along with being the first One Planet Living community in the southeast and in design stage for the first Mass Timber construction office building in Charlotte, NC.

OPTIONS 1 & 2

GATEWAY

OPTION 3

CHARLOTTE INTERNATIONAL

CUSTOM

Let’s turn your vision into reality together. With over 1,400 acres available, we will f ind the perfect home for your company.

OPTION 4

GARRISON ROAD

OPTION 5

TOWN CENTER

GARREN

Alpharetta, GA

GARREN is an adaptive reuse transformation of the former BaileyJohnson School in Alpharetta, GA and will comprise of three buildings totaling 160,000 square feet of space: the adaptive reuse of the BaileyJohnson School building, the adaptive reuse of the school’s gymnasium, and a new three-story, 120,000 square foot mass timber building over one level of parking. An additional parking structure will be connected to the new building.

ABOUT GARREN

Incorporating a former school into its campus, Garren has a compelling past. Adding a handsome mass timber building plus inviting exterior and interior gathering areas accelerates a bright future for Garren’s office community.

• 160,000+ sf of Class A office space

- Historic adaptive use

- 22,000 SF school building

- 20,000 SF gymnasium

- Mass timber new construction

- 120,000 SF 3 level office

- Floorplates range +/- 37,000 - 40,000 SF

• 4.0/1,000 parking ratio

- Both surface and deck parking available

• Direct access to each tenant suite

• Ample outdoor gathering and greenspace

• Private tenant patios

• Tenant lounge

• Fitness center

• Bike storage

120,000 SF

3-level office over parking

mass timber new construction

4.0/1,000 Parking

20,000 sf

Historic adaptive use gymnasium

22,000 sf

Historic adaptive use school building

Nature of Team’s Involvement

Master Developer: Oversees all aspect of the design and construction of the commercial office, mass timber, associated ground floor and integrated parking deck. Garren will be the first mass timber office building in Alpharetta, GA.

Development Program 160,ooo SF Class A Office Space

3 level mass timber office building (120k+ SF)

Historic adaptive reuse gymnasium (20k SF)

Historic adaptive reuse school building (22k SF)

4/1 Parking Ratio

Key Differentiators Historic, adaptive reuse development

New construction mass timber office building

Direct access to each tenant suite

Ample outdoor gathering and greenspace

Private tenant patios

Tenant lounge

Library/study

Fitness center

Bike storage

Balcony space in mass timber available per floor

Anticipated Delivery 2024

Design and Construction

Team Members

• General Contractor – Winter Construction

• Architect – ASD | Sky

• Landscape – ASD | Sky

Sustainability Targeting Fitwel

A SUSTAINABILE OFFICE ENVIRONMENT

The look, feel and sustainability of Garren is of utmost importance That’s why mass timber was selected as a structural and building system from the onset With large floorplates (40,000 sf), the three- level building maximizes usable space, natural light, and supports efficient tenant planning The 24’x20’ structural grid allows for easy planning of offices, open collaborative spaces, and dedicated workspaces for single, or multi- tenant users.

CONSTRUCTION DETAILS

• Mass timber will be used for the 120,000 square foot office superstructure comprising 95% of structural components

• All-wood DLT (dowel-laminated timber) panels will be used as the floor and roof structure

• StructureCraft out of British Columbia, Canada is the turnkey designbuild subcontractor and will coordinate the procurement/fabrication of the mass timber products

MASS TIMBER VALUE & BENEFITS

Differentiation, warmth, character, biophilic design and improved air quality

Appeals to up-and-coming generation

Floor plans are ideal for open concept spaces

Sustainable construction through sequestration of carbon in long-lasting products

Renewable resources from well-managed forests

Quiet and peaceful site beneficial to the nearby public with little to no waste

HISTORICAL IN EVERY SENSE OF THE WORD

This heralded office space is built on the grounds of the historic African- American Bailey-Johnson School. Located in the center of a neighborhood with proud, deep roots, Garren honors the school’s history throughout a campus designed to energize collaboration and creative work.

THE BAILEY-JOHNSON SCHOOL

The Bailey-Johnson School was built to serve black students in North Fulton County in the 50s and 60s. The school opened in 1950 as the only facility in North Fulton County able to enroll black students over the 7th grade. When Bailey-Johnson closed in 1967, it marked the end of segregated education in North Fulton. Its students transferred to Milton and Roswell high schools and neighboring elementary schools.

1932

Three colored schools merged to create Alpharetta Colored School

1950

New building opened, serving grades 1 through 12

Four classrooms added. School renamed for

1953 George “Hard” Bailey, who donated the land, and Warren Johnson, a former slave and proponent of African-American education

GARREN: A NAME WITH A PURPOSE

Open in 1950 as the Alpharetta Colored School, the name was changed at the request of its first graduating class. George Bailey donated the land for the school and Warren Johnson was a respected advocate for African- American education. “Garren” combines their first names.

1958

Gym added. 1964-65 Class B Georgia Interscholastic Association State Champs, Bailey-Johnson High Basketball Team

1966

Bailey-Johnson high school students transferring to Milton and Roswell were the first to integrate any at Fulton County Schools

1967

School closed, and buildings used as the Kimball Bridge Elementary School and then as a maintenance facility

ABOUT GARREN

The Bailey-Johnson School has evolved to embody living history. As a three-building, adaptive use office campus, we’ve created a space for ideas to flourish and innovation to spark Taking inspiration from its former students, Garren will forever be known for progressive thinking and non-stop transformation.

38,000 sf

20,000 sf

Historic adaptive use gymnasium

22,000 sf

Historic adaptive use school building

Timberframe Level 1 +/- 40,000 sf

Timberframe Levels 2 & 3

WELLNESS & SUSTAINABILITY

Garren is a unique adaptive use project, where wellness and sustainability are always in focus. In fact, Crescent Communities is pursuing LEED Gold and FitWel Certifications.

DEERFIELD PARK

+/- 21.37 Acres for Sale

City of Milton

North Fulton County, GA

CORPORATE CENTRE AT DEERFIELD PARKWAY

Corporate Centre is located just off the Windsor Parkway exit of Georgia 400 within Deerfield and is a mixed-use master-planned development in the affluent community of Milton, GA. Crescent Communities developed several buildings in the park and has +/-21.37 acres for sale. The location is perfectly positioned for ease of access via multiple modes of transportation and within close proximity to a large amenity base of hospitality, retail and restaurant offerings within the North Fulton and Central Perimeter submarkets.

CORPORATE CENTRE AT DEERFIELD PARK PROPERTY HIGHLIGHTS

ABOUT THE CITY OF MILTON

The Deerfield/ Windward market is located along GA 400 and extends westward on both sides of Windward Parkway to Highway 9.

Both the City of Milton and Deerfield Park are located in North Fulton County. North Fulton is home to numerous For- tune 500 headquarters that help to make up the 272,000 person workforce. In this market there are approximately 22 companies that employ at least 1,000 people or more.

Home to over 37,000 residents , Milton has a median household income of over $110,000 and a median home value of over $459,000 with excellent public schools.

Major corporate tenants in the Park include AIG, Philips Electronics, LaFarge, Toyota, Verizon, AT&T, and Audi North American.

Other features of the Park include AT&T Fiber optics, high rely, dual loop power supply, extensive landscaping for “park like” setting, good access to GA 400, and an excellent loca- tion for a variety of employee housing options.

Deerfield has almost no single-family houses within the area. Multi-Family housing and townhouses balance the size of the larger office complexes and retail centers.

LOCATION

Deerfield Park is a Hines-developed, 554-acre master-planned community zoned to accommodate up to 5 million square feet of office space, 700,000 square feet of retail space and 1,700 multi-family residential units. The remaining properties in the Park can accommodate up to one million square feet of office development.

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