Laramar Services Book by The Laramar Group

WHATâ&#x20AC;&#x2122;S INSIDE 01. ALLOW US TO INTRODUCE OURSELVES.....5 T he Laramar Group Over view & Histor y National Management Presence Company Organization E x e c u t i v e Te a m

02. TOP NOTCH REAL ESTATE SERVICES.....21 Multifamily Property Management Development Consulting Construction Management Due Diligence

03. FROM OUR MARKETING DESK............39 Marketing Approach Marketing Operating Platfor m Marketing Analytics E v a l u a t i n g M a rk e t i n g Pe r fo r m a n c e Reputation Management Resident Retention & Community Outreach

04. EXPERIENCE THE LARAMAR DIFFERENCE..61 N o r t h Wa t e r - C h i c a g o Dock Street Flats - Minneapolis O n e O b s e r v a t o r y Pa rk - D e n v e r B r i d g e y a r d A p a r t m e n t s - A l e x a n d r i a , VA

05. NATIONAL OPERATING PLATFORM........75 Quality Programs H i r i n g P r a c t i c e s & Tr a i n i n g Te c h n i c a l R e s o u r c e s Sustainability T he Fillmore Center - San Francisco

REAL ESTATE SERVICES

THE LARAMAR GROUP OVERVIEW & HISTORY Founded in 1989, La r a ma r ha s grow n from a small real estate investment company to a ver tically integrated and distinguished national real estate investment and proper ty management corporation with a multi-billion dollar por tfolio. However, we haven’t forgotten the basic reason for our success: our people and the relationships they nur ture. Our foundation is built upon a highly experienced, well-trained management team of real estate professionals who love their work and honor their commitment to both our clients and our residents. From acquisitions to accounting, proper ty management to finance, each team member executes their role with strong dedication. The result is a team that is diligent and focused, understanding the needs of its clients and residents, and working tirelessly to build positive relationships and exceed expectations on ever y front. For over 25 years, Laramar has delivered an unparalleled level of ser vice to the real estate industr y. The company has a large national platform that provides a comprehensive suite of both investment and asset management ser vices, including: multifamily proper ty management, development consulting, sustainability consulting, third-par ty revenue management, constr uction management and due diligence.

ATTRACTING TOP TALENT THROUGH A TOP-NOTCH BRAND

A good, authentic brand that aligns with company values is attractive to not only residents, but also top talent. People care about their company’s values and seek out institutions with a reputation for quality and integrity. Laramar’s foundation of tenured professionals contributes to our place as a top tier, institutional proper ty management company. The team’s experience has allowed us to build a nationwide platform of “best practices”, including differentiating ideas in technology, training, marketing and repor ting that are implemented across our por tfolio. The firm utilizes the collective experience of our associates, as well as the data that we have accumulated over our 25 year histor y to help identify and develop ne w oppor tunities. By analyzing historical, current and predictive vie ws of our business operations, we achieve a competitive market advantage. Laramar’s entrepreneurial spirit is seen at ever y level of the company. From our corporate offices to our associates in the field, each team member is given a voice and encouraged to contribute.

Laramar has specialized in managing and acquiring multifam ily proper ties throughout its entire company histor y. Our success with these proper ties is achieved through the application of our Operating Platform or strategic repositioning of assets through value-add projects. The company manages Class A to C proper ties, from high-rise urban to suburban garden-style. Laramar’s por tfolio consists of over 30,000 units nationwide, both owned or third par ty managed. The company has a presence in over 20 markets from coast to coast and corporate offices in Chicago and Denver, with over 800 employees between our corporate offices and the field.

OUR MISSION

Laramar manages for a select group of clients such as AEW, AIG, Grosvenor, PNC, Pr udential, T IAACREF and others.

Laramar’s meticulous attention to detail means outstanding living spaces with unwavering maintenance standards and personalized ser vice that will exceed expectations. Laramar continually strives to make a resident’s experience second to none.

THE LARAMAR GROUP

Laramar strives to set a standard in apar tment living. Ever y resident can be confident that our on-site and corporate staff strive to provide quality and consistent ser vices to each resident in the community. At the end of the day, this is a people business and we feel that the ultimate success of ever y investment lies in the people on the ground. Laramar prides itself on its employees, selected for their experience and creativity, distinguished by professionalism and the ability to offer exemplar y ser vice at ever y level.

“FOR OVER 25 YEARS, LARAMAR HAS DELIVERED AN UNPARALLELED LEVEL OF SERVICE TO THE REAL ESTATE INDUSTRY.”

NATIONAL MANAGEMENT PRESENCE Laramar has corporate offices in Chicago and Denver, along with regional offices in 20 major markets across the countr y.

CHICAGO

30 South Wacker Drive Suite 2750 Chicago, IL 60606 312.669.1200

DENVER

7900 E. Union Avenue Sui t e 500 Denver, CO 80237 303.991.0094

THE LARAMAR GROUP

WEST REGION Las Vegas Los Angeles Phoenix San Fr ancis co Se attle

CENTRAL REGION Chicago Dallas Denver Houston Ind ianapolis Milwaukee Minneapolis Oklahoma City St. L ouis Tulsa

EAST REGION Atlanta Boston Charlotte Har tford Louisville Mar yland Miami Orlando South Carolina Tamp a Vi r g i ni a Washington, D.C.

REAL ESTATE SERVICES

C O M P A N Y ORGANIZATION

REAL ESTATE SERVICES

THE LARAMAR GROUP

JEFF ELOWE PRESIDENT & CEO

Mr. Elowe fou nded The Laramar Group in 2001 after co-founding Elkor Realty Corp. and Elkor Proper ties in 1989. As President and CEO of The Laramar Group, Mr. Elowe oversees an institutional real estate por tfolio valued in excess of $1 billion and is a principal in the Laramar Multi-Family Value Fund, which is a discretionar y commingled real estate investment vehicle specializing in multi-family investments t hroughout the U.S. Laramar is a nationally recognized investment and proper ty manager currently ranked in the top 50 largest firms in the U.S. by the National MultiHousing Council. Mr. Elowe is chairman of the investment committee and is responsible for the companyâ&#x20AC;&#x2122;s overall strategic planning, investments, asset management and investor relations. Mr. Elowe is also a founder and principal of Covington Realty Par tners, which is a highly regarded s ponsor of national Tenant-in-Common ( TIC) and Delaware Statutor y Tr ust (DST ) transact ions. Mr. Elowe has built a successful 24-year real estate investment track record having sponsored and par ticipated in transactions totaling in excess of $4 billion. Mr. Elowe is the recipient of the 2013 Ernst & Young Entrepreneur of the Year Award (Mountain Deser t region). In addition, Mr. Elowe is on the board of directors of the National Multi-Housing Council (NMHC), is a member of the Urban Land Institute (ULI ) and is a member of the Young Presidents Organization ( YPO). He is chairman of the board for the Nor th Lawndale College Prep Char ter Schools and a board member of Chicago Je wish High School. Mr. Elowe has a B.S. degree from the University of Illinois and an M.D. degree f rom Nor thwe stern University.

REAL ESTATE SERVICES

STEVE BOYACK

CHIEF OPERATIONS OFFICER

Steve Boyack joined Laramar in 2002, and oversees Laramar’s national por tfolio, including all field operations and site staffs, marketing, project management and por tfolio per formance. In his role as Chief Operations Officer, he is responsible for ensuring that Laramar’s systems and programs are implemented consistently across the por tfolio. Mr. Boyack also oversees the implementation of Laramar’s Urban Neighborhood platform nationwide. Mr. Boyack first joined Laramar in the role of General Manager for the Fillmore Center in San Francisco, then oversaw the Bay Area as Laramar’s regional manager. He quickly ascended to the role of Vice President of Asset Management in 2006 and then in 2010, was promoted to Senior Vice President of Asset Management/Business Development. Prior to Laramar, Mr. Boyack was a general manager with Draper and Kramer where he oversaw a Class A luxur y high-rise development on the Chicago lakefront. Prior to Draper and Kramer, Mr. Boyack was a proper ty manager with RMK Management Company. Mr. Boyack has ser ved on the b oard of directors of the Institute of Real Estate Management (IREM) and is a Cer tified Proper ty Manager (CPM). He is also on the board of NMHC’s Sustainability Su bcommittee. Mr. Boyack has a B.S. degree in economics, with a double emphasis in math and psychology from the University of Iowa.

THE LARAMAR GROUP

BENNETT NEUMAN SENIOR VICE PRESIDENT - ACQUISITIONS

Mr. Neuman is responsible for proper ty acquisitions in Laramar’s Midwest, Southeast and East Regions. Mr. Neuman joined Laramar’s predecessor company, Elkor Realty, in 1998. Since joining Laramar’s predecessor company, Mr. Neuman has been responsible for over $2 billion of acquisitions. Additionally, he has played a critical role in the affordable housing activities of Laramar and its predecessor, including completing over $90 million of tax-exempt bond financed transactions. Mr. Neuman has developed strong relationships with local owners and brokers in several markets, allowing him to identify acquisitions that are not widely marketed. Prior to joining Laramar’s predecessor company, Mr. Neuman was an asset manager with M. Myers Proper ties, a private owner with approximately 6,000 apar tment units located throughout the Midwest. He oversaw the operations of this por tfolio and managed the physical renovation and repositioning of distressed assets acquired through foreclosure. Trained as an architect, Mr. Neuman also worked for Holabird & Root Architects, one of Chicago’s preeminent architecture firms, where he primarily focused on the design, programming and space planning for a ne w headquar ters for a national financial ser vices company. Mr. Neuman has a B.A. degree and a masters of architecture degree from the University of Michigan and an M.B.A. with a concentration in finance from the Universi ty of Chicago.

SCOTT MCMILLAN

YOLANDA MEBERG

SENIOR VICE PRESIDENT - ACCOUNTING/CONTROLLER

SENIOR VICE PRESIDENT - HUMAN RESOURCES

Mr. McMillan is responsible for the oversight of all accounting functions at Laramar, which includes all proper ty and corporate level financial statement production, client repor ting, cash management, accounts payable, contract management, and vendor compliance. Mr. McMillan is also a member of the internal audit committee.

Yolanda Meberg joined Laramar in November of 2013 as a human resource professional. Ms. Mebergâ&#x20AC;&#x2122;s career spans two decades and she has managed human resources in a variety of industries and roles.

Mr. McMillan joined The Laramar Group in 2004 prior to being promoted to senior vice president in the fall of 2011. Star ting as the accounting manager for a ll fee management assignments nine years ago, he focused on building versatile policies and procedures that could easily be adapted to handle multiple clients with var ying needs. As Mr. McMillan has grown with Laramar, he has built an accounting team that is committed to delivering high quality financial statements both accurately and on time. Prior to Laramar, Mr. McMillan worked at ABC Supply, one of the worldâ&#x20AC;&#x2122;s largest building products distributors where he held several positions including internal audit and accounting manager. Mr. McMillan has a B.S degree in finance with an emphasis in accounting from the University of Nor thern Iowa.

Throughout her career, Ms. Meberg has successfully established sustaining business relationships through her approach for accountability, driving results for the business and respect for the individual. Through her ability to address root cause analysis, she has led process improvement teams and helped create professional development plans for all levels of employees. As a former Affirmative Action Officer in higher education, Employee Relations Manager for a multi-national telephony company and as a Vice Pre sid e nt of Human Re source s manag ing top secret security clearance for international business, Ms. Meberg brings a depth and breadth of strategic and practical experience. Ms. Meberg has been successful as a recr uiter, principal negotiator for medical and extended benefits, project manager for HRIS initiatives, as well as compliance and employee relations programs designed to impact the employees in companies with a national presence. Ms. Meberg earned her Bachelor of Science degree in Adult Education & Training from the University of Wyoming College of Education. She holds her Masters in Human Resources Management and Development from Colorado State University.

REAL ESTATE SERVICES

BENJAMIN SLAD

MATTHEW LEVY

VICE PRESIDENT - INVESTMENTS

VICE PRESIDENT - ACQUISITIONS

Mr. Slad joined The Laramar Group in 2004 and is responsible for acquisitions, por tfolio management, dispositions, asset management and invest or relations. Since joining Laramar, Mr. Slad has been invol ved in transactions totaling more than 18,000 units and $1.8 billion of value. Mr. Slad works closely with all team members including accounting, investments, constr uction, risk management, operations and proper ty management.

Mr. Levy is the Vice President of Acquisitions for The Laramar Group. Mr. Levy is responsible for identifying investment oppor tunities in the western United States with a primar y focus on California markets. Mr. Levy joined Laramar after six years as Vice President of Acquisitions & Development at Frost/Chaddock Developers, LLC, a Los Angeles based multi-family investment, development and management company where he was responsible for all aspects of acquisitions, feasibility, design development, entitlements, and str uctured financing.

Prior to joining Laramar, Mr. Slad was a project coordinator at Imperial Realty Co. in Chicago where he oversaw asset management and financial analysis. Mr. Slad is on the associate board of the Over the Rainbow Association, is a member of the National Multi-Housing Counci l’s Emer gi ng Lea der s (NMHC) and is a member of Urban Land Institute (ULI). Mr. Slad has a B.A. degree and a Masters of Architecture degree from the University of Illi nois. He also has an M.B.A. with a concentration in finance from the University of Il lino i s.

THE LARAMAR GROUP

Prior to joining Frost/Chaddock, Mr. Levy was the Acquisitions & Project Manager for Beverly Hills based Casden Proper ties, LLC. At Casden, Mr. L evy was involved in the acquisition and development of a pipeline consisting of more than 3,000 residential units and 500,000 square feet of commercial space throughout Southern California. Additionally, Mr. Levy was a Deputy to Los Angeles City Councilmember Tom LaBonge where he managed city-wide capital improvement projects, infrastr ucture development, and land-use planning. Mr. Levy received his B.S. from the University of Southern California and a Master of Planning from the University of Southern California.

CHRISTOPHER PETER

MELANIE TRAPNELL

REGIONAL VICE PRESIDENT - OPERATIONS - WEST

REGIONAL VICE PRESIDENT - OPERATIONS - EAST

Christopher Peter is the Regional Vice President of Op er a t i ons a nd i s res p ons i b le f or the operations and financial per formance of Laramarâ&#x20AC;&#x2122;s Western por tfolio. Chris has over 15 years of indus tr y experience and is returning to Laramar after 4 years as Managing Director for Equity Residential in the San Francisco Bay Area. After successfully integrating a Silicon Valley por tfolio of over 1,800 units into the EQR por tfolio, he went on to manage over 3,300 units, generating an annual revenue stream of over $75mm and setting record NOI growth. Chris is specialized in both conventional and rent control assets, distressed por tfolio optimization and post-acquisition integration. Prior to working for Equity Residential, Chris was a por tfolio General Manager for the Laramar Group in the San Francisco Bay Area, managing a complex variety of REO/Bank owned assets. Chris has also held the role of Senior Asset Manager at Prana Investments, a real estate i nvestment firm, with operations in Ne w York, San Francisco and Los Angeles. His ability to optimize proper ty operations, navigate complex regulator y environments and bridge challenging relationships with stakeholders has been i nstr umental in the success of his por tfolios.

Melanie Trapnell is the Regional Vice President of Operations over the Eastern region and is responsible for the operations and financial per formance for over 10,000 apar tments along the Eastern Seaboard and Midwest. Melanie joined Laramar after 3 years as the Regional Vice President of Vantage Management Incorporated, where she was responsible for ne w business development and re g i onal ove r si g h t of j ust und e r 4,000 units in the DC metro area. Her por tfolio included lease-up and stabilized assets, as well as assets phasing out of various types of subsidy.

Chris has ser ved as Vice Chairman of the City of East Palo Alto Rent Stabilization Board, is an active member of the California Apar tment Association and currently ser ves on the Housing Industr y Foundation Board of Directors, as Executive Committee Vice President. He received his Bachelor of Ar ts in International Re lat i ons from Lehigh Univers ity.

Prior to working for Vantage, Melanie spent 10 years with Equity Residential in several different markets including Seattle Washington, Ne w York City, and Washington DC where she was a Regional Manager overseeing a complex por tfolio of highrise, mixed use and lease up assets. She was actively involved with the growth of the Seattle por tfolio and instr umental in developing a bench strength of engaged leaders to manage proper ties in a highly competitive market. Her accomplishments also include managing numerous changes to the operations including the rollout of an entirely ne w accounting and operating platform, price optimization and sales training. She is a member of IREM and has received her ARM designation. Me lanie atte nd e d Id ah o State Unive rsity and was also trained in leadership at Rio Salado College.

REAL ESTATE SERVICES

MICHAEL BURNAZ VICE PRESIDENT - CONSTRUCTION

Michael Burnaz is responsible for all day to day operations and strategic direction for the Laramar Constr uction Ser vices Division to include Due Diligence, Value Add, Redevelopment, and Capital Projects. Mr. Burnaz oversees Project Managers throughout the US and our Contract Administration Team. Previously, Mr. Burnaz was national director of facility management for Roy Jorgensen Associates, Ir vine, CA, responsible for daily operations and overall direction of its maintenance/constr uction division, overseeing all building operations and constr uction ser vices spanning 2.7 million sq. ft. in 50 locations in 26 states. Prior to Jorgensen Associates, Mr. Burnaz was project manager for Avalon Bay Communities in Southern California, with a por tfolio of 57 communities and 14,825 units. Prior to Avalon Bay, Mr. Burnaz was responsible for Code and Neighborhood Ser vices with the City of More no Valle y.Â A former U.S. Marine (Active Duty, 19861992) and Army Reser vist (1994-1998), Mr. Burnaz has a B.S. degree in business from the University of Phoenix. In addition Mr. Burnaz is a Licensed General Contractor in California and holds several National Cer tifications through (ICC) International Code Council.

THE LARAMAR GROUP

DAVID EGELAND VICE PRESIDENT - MARKETING

David Egeland joined The Laramar Group in 2014, and is responsible for all marketing and training activity. His responsibilities include proper ty-based marketing and experiential programming, digital initiatives, and investor communications. Mr. Egeland works closely with the Business Development team on ne w product development encompassing branding, awareness campaigns, strategic creative development and social media. Prior to joining Laramar, he spent 14 years at General Growth Proper ties, the second largest retail REIT in the U.S. Mr. Egeland had several senior marketing roles at GGP, such as SVP Field Marketing, VP Marketing Programming & Operations, and VP Marketing – Western Region. Be fore GGP, Mr. Egeland worked as a Brand Director at Se ars, Senior Brand Manager at Kraft Foods and as a Media Super visor for Leo Bur ne t t adve r tis ing. Mr. Egeland holds a B.S. in Communications from the University of Illinois at UrbanaChampaign and an MBA from the Kellogg School of Management at Nor thwestern University.

LEE MONTGOMERY ASSISTANT VICE PRESIDENT - IT & BUSINESS INTELLIGENCE

Lee Montgomer y, AVP of IT and Business Intelligence, is a Senior Operations, Finance and Accounting Executive with over 20+ years’ experience developing vision, processes and systems in the Real Estate and Hospitality industries. Mr. Montgomer y’s responsibility is to provide technical I/T suppor t, implement/ train and manage company business applications as well as par tner with internal customers to develop strategic technology initiatives in suppor t of the Laramar por tfolio of assets a nd potential acquisitions. Prior to joining Laramar, Mr. Montgomer y was EVP of Operations for Wilkinson Asset Management. Previous to Wilkinson, he spent three years at Yardi Systems in an executive role responsible for consulting with clients to identify gaps in operational processes and developing initiatives using Yard i sof tware solutions. In ad d ition, h e spent eight years at Apar tment and Investment Management Company (AIMCO) as SVP Revenue Management and Business Intelligence which included the development of a Reven ue Management System and a Business Intelligence process and platform. Prior to joining AIMCO, he spent 12 years at Nor wegian Cr uise Line as VP Revenue Management and Analytics and other numerous financial positions. Mr. Montgomer y graduated from the University of Texas with a BBA in Operations in addition to receiving an MBA in Finance and Informati on Technology from the University of Houston Also, he is a licensed CPA in the state of Colorado.

THE LARAMAR GROUP

Laramar takes pride in its people and invests in the best talent in the industr y. We have developed a detailed network of communication and suppor t throughout our national por tfolio. Our systems are built to track, analyze, repor t and deliver quality results for each proper ty we manage, and our associates are trained to effectively lead, super vise, train and discipline. Each on-site team is suppor ted by an Area Vice President or Regional Manager, who oversees each asset with meticulous care. These managers are suppor ted by our corporate offices, which offer all back of house functions that are necessar y for our teams to succeed. Our corporate offices are strategically placed nationwide to offer easy access and communication with our on-site teams. The result is a strong organization of tenured professionals who are able to respond to oppor tunities across the countr y with a targeted, thoughtful and progressive approach. Laramarâ&#x20AC;&#x2122;s consistent National Operating Platform utilizes the best systems, programs, repor ting and technology in the multifamily industr y. Our benchmark standards of measuring per formance, along with our metric-based repor ting, contribute to our teamâ&#x20AC;&#x2122;s continued success. We use dashboards and ranking repor ts to analyze our proper ties and build an internal database of information. These technologies provide historical, current and predictive vie ws of our business operations, and give us a competitive market advantage. A combination of the best people and technologically advanced tools has made Laramar a thought leader in the multifamily industr y. Please refer to 05. Nati onal Operati ng Platfor m for a comprehensi ve over view of programs available accross all divisions within our multifamily proper ty management ser vices. 24

THE LARAMAR GROUP

Laramar’s development team works hand-in-hand with our clients, tracking markets, trends and demographic preferences to design and deliver sophisticated products that successfully attract the target demographic. Our collaborative approach allows Laramar to be present at ever y step, from project conception through design and stabilization. By developing the community’s brand, designing the units and interiors, and programming th e amenity packages, we bring our detailed knowledge of the marketplace, as well as our creativity, to the table. The result is a strong, market-leading product, where our practical knowledge leads to efficient floor plans, more engaging amenity spaces and a better overall building per formance. These achievements allow our clients to see the value of Laramar’s par ticipation in a building’s development.

THE LARAMAR GROUP

REAL ESTATE SERVICES

THE LARAMAR GROUP

INTERACTIVE WEB/ MEDIA INTERACTIVE WEB S I T E

RESIDENT PORTAL

Laramar designs, builds and executes custom landing pages and websites. We incorporate advanced technology into our programming to ensure that the website is specially designed for the community. We understand that each proper ty is unique, and we apply that knowledge to our management and marketing. This focused approach differentiates us from our competitors.

The Resident Por tal allows for online rent payments via ACH or credit cards and submission and tracking of ser vice requests. Leasing Associates can add, revie w and edit resident information for the online account. The Por tal allows for residents to send emails to staff, create work orders, submit revie ws, place classified ads and add social groups.

Laramar works with several website vendors, in additi on to our website par tners Entrata and Blue Moon. These par tnerships allow us to offer a fully integrated, online leasing experience. Since 88% of Millennials use mobile devices as their primar y search tool, Laramar captures this demographic by creating a responsive website design that offers seamless navigation from desktops, tablets or smar t phones.

Prospective residents can request information via Live Chat functionality or submit an online guest card for more information. For prospects tr ying to get a feel for their ne w neighborhood, we offer interactive maps which allow them to see proximity to local conveniences through walk, bike and transit scores. Prospects can print an electronic brochure, confirm pet policies and check revie ws.

Our exper tise helps us create a website that contains a focused, personal connection with the desires of our core audience. Our website provides the ability to search for that per fect apar tment home by price, floor plan or square footage. With state of the ar t technology such as 3D animation, prospective residents can go from tour to lease execution all from their mobile device. ENTRATA

Leads are tracked and managed through Entrataâ&#x20AC;&#x2122;s site facing software , Prospect Por tal. The leasing team is able to vie w and manage their leads or scheduled follow up for the day upon logging into the system. Associates can send e-mails about a specia l incentive, available unit type, or provide opening status updates to a group of prospects which is helpful during the lease up as the lead data base is generated prior to opening. Applications can be submitted online and are integrated with our Resident Screening provider and Yardi. Prospective residents receive immediate res u lts on their approval status. Once approve d , they are able to revie w and sign their lease electronically with Manager approval. They are then e-mailed a PDF version. E-leases are stored on both the Entrata and Laramar ser vers to ensure copies of the document are available if needed.

IPADS

To meet the demands of the increasingly sophisticated renter, Laramar uses iPads with Site Tablet capability to provide a vir tual leasing desk from any location. This provides immediate access for customers, and also provides a fast and efficient way to spend time vie wing the features and amenities of the community. iPads allow leasing professionals to create a more personal, interactive and fun experience. Consultants can check availability, pricing and assist applicants with applying online from the Wi-Fi cafĂŠ or throughout the tour instead of sitting at a traditional leasing desk. VIRTUAL RENDERINGS

Vir tual renderings provide prospective residents a greater level of detail and assists with preleasing initiatives. Lifelike images display the floor plan layouts, amenities and apar tment home finishes.

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REAL ESTATE SERVICES

THE LARAMAR GROUP

FACEBOOK

Facebook’s timeline design is per fect for the launch of a community. The ability to show progression photos and time lapse videos gets followers excited about the grand opening. Linking a vir tual video tour or constr uction progress video to QR codes on banners by the site or other strategic locations is another way to interact with potential residents during constr uction. Facebook has more than 845 million active users, with more than 50% of those users logging in ever y day. A community’s Facebook page should share information and communicate with residents and potential residents – positioning the building as the place to live in the market. TWITTER

Twitter allows anyone with a Twitter account, or “handle,” to make brief 140-character posts to their “followers.” The goal of these communications is to be par t of conversations with t heir followers, or with anyone who might be listening in. Twitter is a “go to” resource for quick-hitting information for all of an organization’s stakeholders, and it presents a fantas tic way to grow an even stronger following for the community and to communicate with current and prospective residents. INSTAGRAM

Instag r am i s an online photo- s haring, videosharing and social networking ser vice that enables its users to take pictures and videos, apply digital filters to them and share them on a variety of social networking ser vices. Users are also able to record and share shor t videos lasting for up to 15 seconds. Now par t of Facebook, Instagram provides an immediate and seamless way for the community to share its stor y, upload pictures and constr uction updates to prospects and res idents. Instagram is par ticularly effective w i t h demographics who prefer to consume content visually.

THE LARAMAR GROUP

Use rs can ad d a “Pin it” button to th e ir browser and then select and “pin” online images to vir tual Pinboards, relevant to the proper ty. Clicking on an image will take you to the original source, users can browse or search for image content and can follow the boards of other users and can “like” or repin other users’ pins. Pinterest is a great tool in getting a visual message across to residents and prospects – it allows the leasing team to share multiple images in one place, and gives the residents something to desire. In addition, it’s an added benefit to the proper ty when discussing SEO. CRAIGSLIST

Craigslist is a major source of traffic and we use Entrata and Rent Sentinel to keep ads fresh. These programs allow us the ability to drill down and see what ad styles, titles, photos, pricing or template designs are the most successful so that we can adjust to generate the best response. According to a recent J Turner Research sur vey, Craigslist’s presence in major metros generated the highest rents per month of any lead.

LARAMAR’S SOCIAL MEDIA PRACTICES: • We vie w socia l media as an oppor tunity to listen, par ticipate in conversations of interest, generate a “buzz” about our proper ties, share relevant content with our friends and followers, ultimately growing a social following for our proper ties • We initiate dialogue with the online community via regular Facebook posts, tweets, instagram “likes” and pinterest boards • Laramar utilizes social media to gather and respond to resident revie ws, both compliments and potential problems • For ne w developments, we feature constr uction photos and “sneak peeks” of the ne w apar tments to entice future residents • Laramar becomes par t of “trending” conversations by tagging tweets with “hashtags” in the tweet • As residents move in, Laramar features “Home of the Month” photos of well-decorated spaces • We share upcoming events and neighborhood activities such as street festivals, sales, restaurant openings and other events of interest to residents • We begin friending and following active social media users relevant to the proper ty, to fur ther grow a following for the residence (real estate media contributors/publications, industr y and local associations, and influential bloggers) • Laramar strives for consistent and meaning ful interaction through social media to establish more long term social interest in our communities

THE LARAMAR GROUP

M A R K E T I N G M E T R I CS

Laramar leverages technology by utilizing the most effective internet listing sites. We also use Google Analytics to analyze our pay per click campaigns and track the number of visits prospects make to each website we are listed on. This helps us better understand which websites give us the most exposure, and therefore are the most effective at reaching qualified prospects. Entrata offers the ability to track how prospects hear about L aramar and our proper ties. Various repor ts help us to see how effectively each proper ty follows up with leads by measuring the rate of outgoing emails and the conversion rates of phone calls to appointments. These detailed repor ts help Laramar be t t e r und e r st and e ach p rop e r t y and associ at e’s per formance in their markets, and allows us to create a customized plan that will ensure each community’s success. M E A S U R I N G P E R F O RM A N C E

Dynamic Lead Tracking: The use of dynamic number inser tion and guest card parsing work to show the origin of a lead and track the effectiveness of marketing dollars being spent. Google Analytics: Measuring lead traffic to the Laramar website is critical to understanding which marketing par tners and lead generation channels are per forming. Google Analytics is not just a tool for measuring website hits and page impressions – we track macro conversion events on the website, such as email form completions, as well as micro conversion events, such as map vie ws, floor plan vie ws and email form abandons. These micro events happen with much higher frequency and are typically more indicative of a qualified prospective customer. MANAGING LEADS

Pro pe r t y and L e asing A gent Per formance: The Entrata platform allows us to monitor individual proper ty and leasing agent per formance. Lead Conversion, Proper ty Per formance, Leasing Agent Per formance and Calls Conversion Repor ts give us the tools to ensure leads are being worked and leasing velocity is optimized.

Triggered Email Campaigns: E-mail is a power ful tool to keeping prospective renters engaged and the apar tment community “top of mind” during the research phase. THE LARAMAR GROUP

Reputation Management is an impor tant aspect in d eveloping the community brand. Laramar encourages feedback from our residents on sites such as apar tmentratings.com and Yelp! In a recent online sur vey which included Laramar residents, 57.9% of 25-34 year olds indicated their decision on where to rent was influenced by ratings and revie w websites. Not only do these postings improve organic SEO, they offer an oppor tunity to monitor our per formance levels and quickly identify and resolve customer ser vice concerns. A P A R T M E N T R A T I N G S. C O M & Y E L P !

Laramar centrally monitors feedback from apar tmentratings.com, Yelp! and our company website to assist on-site teams with per formance trends and customer responses. We respond to all compliments and suggestions so residents know that their voice is being heard. R E S I D E N T F E E D B A CK

Marketing campaigns to request feedback from prospective and current residents are in place for all communities. A recent Satisfacts study about the online habits of prospective residents showed that 67% were not aware their community had a social channel. To promote our social presence, we solicit feedback from potential and existing customers. Printed cards are given following a community tour asking prospects if they â&#x20AC;&#x153;Likedâ&#x20AC;? what we are doing or how we are doing it, to please provide their feedback on Yelp or Apar tment Ratings.com. When residents log in to their resident por tal on the website, reminders appear to request a revie w of the community. Residents are also provided with reminders and oppor tunities to submit revie ws in amenity spaces such as business centers, resident lounges or Wi-Fi cafĂŠs. Finally, we encourage resident feedback and communication on our website and social media accounts. THE LARAMAR GROUP

THE LARAMAR GROUP

C a s e S t u d i e s Fe a t u r i n g : N o r t h Wa t e r, C h i c a g o / / D o c k S t re e t F l a t s, M i n n e a p o l i s / / B r i d g e ya rd A p a r t m e n t s, Alexandria //

50th Floor Plan 3/16” = 1’-0”

THE LARAMAR GROUP

L E V E L S 15 - 5 0

LEVELS 1-14

THE LARAMAR GROUP

Dock Street Flats is another ne w addition to an already bustling Minneapolis area. The proper ty is a mixed -use d evelopment located in the Nor th Loop neighborhood, right next to the Cedar Lake Bike Trail that follows the rail corridor of the Nor thstar commuter rail. Minneapolis is proud of its bike trails, and in a city that prides itself on its vibrancy and commitment to health, Dock Street Flats embraces that trend as well. The community creates a live-work-play neighborhood in an urban environment, and its location is the per fect fit for this plan. Dock Street Flats began pre-leasing in September 2013, in a market that saw a development boom - almost 800 ne w units were delivered around this time. Dock Street Flats welcomed its first residents in December 2013, and achieved its target to hit stabilization by August 2014! Effective rents averaged $2.17 psf, right on target with under writing projections, and have increased since.

Laramarâ&#x20AC;&#x2122;s Preferred Employer Program was incredibly effective during the lease up, with over 35% of ne w leases secured from the positive relationship between Laramar, major employers and local firms such as Target, Oakwood, 3M, Medtronic, General Mills, U of M and Carmichael Lynch. THE LARAMAR GROUP

REAL ESTATE SERVICES

BRIDGEYARD APARTMENTS //ALEXANDRIA, VA R E D E V E L O P M E N T

In March 2013, Laramar acquired Hunting Point Apar tments, a 530 unit proper ty in scenic Alexandria, VA. The proper ty is situated along the Potomac River with miles of r unning and biking trails, offering residents numerous op p or t uni t i e s t o e nj oy t h e out d oor s. Our business plan capitalizes on the location, as well as the deferred maintenance at the proper ty to enhance residents’ living experiences. Our $14 million renovation plan includes replacing the windows in all units, renovation of all unit kitchens and baths, enhancing the hallways and common areas with ne w carpeting, paint, lighting and furniture, as well as upgrading a ne w leasing and amenity center. The pool area was upgraded with the a ddition of a pool house lounge area for residents. To date, Laramar has completed numerous capital projects. Our team has re-piped the domestic water lines and added controls to the boiler system. Windows have been replaced in both buildings and electrical replacements are complete. The lobbies and hallways in one building of the proper ty have been upgraded, including ne w flooring, carpet, furniture and paint , and these upgrades are under way in the second building. To date, 176 units have been renovated in one building, and 86% of those units are leased and occupied. In the past six weeks, the team has secured 44 leases, averaging seven leases per week. Fur thermore, we have attained city approval for the design and constr uction of a ne w clubhouse that will host a leasing center, community room, fitness center and outdoor amenity deck, complete with BBQ areas for resident use. Following the acquisition of this asset, Laramar launched a re-branding and re-positioning campaign to appeal to our target demographic. This includes a ne w name, Bridgeyard Apar tments, as well as updated collateral, signage and key lifestyle images that fit the ne w brand. The proper ty’s marketing campaign includes banners, A-frame signage, weekend open houses, direct mailers, sign spinners, referrals, aggressive Craigslist postings and locater ser vices. Planned resident events include “resident breakfast on the go”, pet “yappy hours”, pool par ties, private fitness classes and water hand-outs for r unners and bikers.

During the month of September, seven former residents returned to the proper ty and 23 residents transferred from their current un-renovated apar tments to renovated units. Resident retention is a focus with planned resident appreciation events as well as timely and effective communication about the week’s renovation activities. Recent resident revie ws have resulted i n a p osi t i ve 83% r at i ng on t h e p rop e r t y’s re v i e w website. THE LARAMAR GROUP

BUSINESS PLAN: •

Replace 100% of windows

•

Replace domestic water system

•

Re wire entire proper ty and upgrade ser vice panels in each unit

•

Kitchen and bath remodel and upgrade

•

Build market-leading leasing and amenity center

•

Rebrand proper ty to include a ne w name, signage program and logo

•

Upgrade lobbies and building entrances to be more modern and inviting

THE LARAMAR GROUP

QUALITY PROGRAMS AREA MAINTENANC E C O O R D I N A T O R S ( “ A M CS ” )

Each region has a designated AMC who is the most experienced Ser vice Manager in their region; their role is to complete Laramar’s Quar terly Proper ty Inspections and ensure that Laramar’s Safety Management and Sustainability Programs are be ing consistently followed at ever y proper ty; they also solicit ne w ideas and once tested and proven these ne w ideas become the next Laramar Programs and are incorporated into the Operating Platform through Sharing Best Practices; ever y ne w Ser vice Manager is trained by their local AMC, ensuring consistency of training throughout the organization AUM*

A third-par ty resident billing company that also provides energy management; all bills are revie wed to ens ure billing accuracy in terms of rates, taxes and tariffs; in addition, vacant unit utilities are monit ored to ensure that bills are switched over to the ne w resident s the day they take occupancy which minimizes vacant utility bills and helps drive NOI BLOCKING

A quar terly process where our National Purchasing Manager revie ws all purchasing in the field (down to nuts and bolts) with a team from our maintenance and constr uction groups and identifies the most cost-effective products that the field should be purchasing and then “blocks” alternate products with our national supplier, Wilmar; field associates tr ying to purchase blocked items are then re-directed to the approved produ cts; this program results in significant expense savings

CAR SHARE PROGRAMS

A Laramar Green Team program; implemented at urban proper ties so that residents can “check out” a car for shor t term use; not only green but also a great amenity to offer re si d e nt s CUSTOMER SERVICE EMAIL*

Complaints may be made to our designated Customer Ser vice E-Mail Account at Resident@LaramarGroup.com. Residents can use this to provide feedback to our management company. All issues are recorded in a Laramar Customer Ser vice Log and responded to and resolved within 24 hours (if possible). CUSTOMER SERVICE HOTLINE*

Laramar has a Customer Ser vice Center set up for all residents to call (1-888-4-L ARAMAR) at any time and repor t any issues they may have. All issues are recorded in a Laramar Customer Ser vice Log and responded to and re solve d wi t h i n 24 h our s ( i f p ossi ble ) . DUE DILIGENCE/TRANSITION DIRECTOR

A full time Laramar employee focuses on making sure that both due diligence and management takeovers are smooth and seamless ENERGYSTAR

A federal program to identify energy efficient appliances, buildings and companies; Laramar uses only EnergyStar appliances on 100% of replacements por tfolio-wide; Laramar has also been named an EnergyStar Par tner

ENTRATA*

Laramar’s website and proper ty management par tner; Laramar utilizes call tracking and repor ting, lead management, Craigslist ads and marketing, Prospect Por tal, leasing center and lease exec ution, Site Tablet, Parcel Aler t and resident pay and Resident Por tal and work orders. Por tals allow for residents to send emails to staff, create work orders, submit revie ws, place classified ads and add social groups; functions as a training tool with the leasing staff, as well as accurately pinpointing marketing effor ts. GREEN TEAM

A cross section of Laramar associates that meet monthly to identify and implement green initiatives throughout the por tfolio H UNTER WARF I E L D

Third par ty collection agency; used only after in-house collection is exhausted I NCENT*

In-house developed leasing compensation program that is tiered and re wards top per formers I NTERNAL AU D I T S

Unannounced audits per formed by Internal Audit Depar tment to ensure financial integrity and compliance with all Laramar Programs K EYTRAK*

Computerized key control system utilized at ever y Laramar proper ty L ARAMAR UNI V E R S I T Y *

Comprehensive training program including

classroom, small group, one-on-one, mentor, video, audio, pre- and post-testing and extensive use of leading-edge web-training technology LEAD MANAGEMENT*

This software within Entrata’s Prospect Por tal function automatically creates guest cards as leasing calls and e-mails are received and integrates directly with Yardi. All prospect e-mail communications and follow up activity are tracked within this system. Leads are routed to the Leasing Associate’s dashboard upon logging in so they can conduct regular follow up, track pending applications and online lease executions. LEASE EXPIRATION MANAGEMENT

A process managed through LRO to ensure that the correct number of leases are expiring each month based on projected supply and demand (summer vs. winter months) which reduces occupancy fluctuations and therefore facilitates maximizing re nt al r at e s and d r i v i ng N O I U S G B C - L E E D ( L E A D E R S H I P I N E N E R GY AND ENVIRONMENTAL DESIGN)

Laramar is a member of the U.S. Green Bu ilding Council. In 2010 we achieved a LEED silver cer tification a large San Francisco Proper ty, and in 2014 received LEED Cer tification for a multifamily high-rise building in Chicago LIGHTING RETROFITS*

A Laramar Green Team program; replacing light bulbs, fixtures and ballasts with energy-efficient lighting and installing photocells, timers and motion detectors resulting in better lighting quality, in many cases better curb appeal and reduced operating expenses; payback on investment is often less than 2 years REAL ESTATE SERVICES

LRO (LEASE RENT O P T I O N S ) *

PAYSCAN*

Leading-edge revenue management software managed by Laramar’s in-house Pricing Manager, that h as resulted in “revenue lift” of 3%

A third-par ty ser vice that allows Laramar to process and approve all invoices electronically through the web greatly streamlining this process over what other companies do and creating better controls

MAINTENANCE SHO P B A R C O D E S *

An inventor y control system that allows for the easy tracking of inventor y and ordering suppl ies MAINTENANCE SHO P C O L O R C O D I N G

Ever y Laramar shop uses a standard color coding system so that associates can move to different proper ties and different regions and they immediately know how the shops are organized MICROSOFT SHARE P O I N T *

Leading edge software used for Laramar’s company-wide intranet; this technology is an excellent way to store and share information throughout the company NATIONAL PURCHA S I N G P R O G R A M

A Laramar program that negotiates national volume discounts on a wide variety of supplies and ser vices. Revenue share agreements are negotiated with national providers of ser vices such as cable, telephone, high-speed Internet, laundr y and energy ser vices to offer Laramar residents the best available technolog y and ser vices at competitive rates and to develop revenue stream oppor tunities for the proper ties from these programs. Our pricin g is available to all of the proper ties in our por tfolio. In addition to discounted pricing negotiated with our national suppliers, Laramar holds quar terly “blocking” meetings where all purchasing is revie wed and the most cost-effective supplies are identified and supplies that are deemed less cost effective are blocked and are not available for the field to order. NATIONAL PROGRA M S A N D A N C I L L A R Y S E R V I C E MANAGER

Laramar has a dedicated National Programs Manager that oversees this depar tment. The National Programs Ma na ger w ork s w i t h va r i ous providers around the countr y to maximize revenue potential and communicates/coordinates with the community manager as agreements are negotiated. We work with providers such as AT&T, Verizon, Qwest, Comcast, Time Warner, Bright House Networks, Coinmach, MacGray, Web, and others to provide you with the highest commissions and revenue stream we can negotiate. Overall contract compliance is tracked along with monthly and quar terly revenue share and commission payments. The revenue tracking spreadsheet is distributed to the proper ties on a quar terly basis.

ONLINE LEASING*

Laramar provides an online leasing oppor tunity for our communities through our website. Prospects can fill out applications and sign both ne w and rene wal leases online. ONLINE SURVEYS*

Laramar utilizes Kingsley research, an online sur vey process, to sur vey all tours, as well as a 10% sampling of current residents. We also utilize it to measure ever y move-in. This sur vey helps us gauge our leasing and customer ser vice per formance and outlines any areas needing improvement. ONSITE*

Third-par ty resident screening and criminal background check ser vice; actively managing this system allows for maximum occupancy with the highest possible resident credit profile. POLICY & PROCEDURES MANUALS*

All web-based with full search functionality; can be easily updated and the field always has access to current information PREFERRED EMPLOYER PROGRAM

A national program that allows each proper ty to identify specific employers in their area and offer their employees discounts and special offers; this program is a great way to get access to the employees of these employers and helps with outreach marketing PRICING MANAGER

Laramar has made an investment in hiring an in-house Pricing Manager who has extensive experience in revenue management and pricing; this position manages both LRO and Yieldstar and works closely with the field on weekly pricing calls to identify pricing oppor tunities RANKING REPORTS

An excellent management tool used by Laramar to “slice and dice” the por tfolio and identify outliers and oppor tunities for improvement; many key per formance indicators are measured and ranked monthly and then these repor ts are distributed to the field which instills a healthy sense of competition

RISK/SAFETY M A N A G E R

Laramar has invested in a dedicated Risk/ Safety Manager which results in fe wer Workers’ Compensation and liability incidents at the proper ty level and lower insurance premiums SIEMENS

Laramar’s sustainability par tner; focused on Sustainability Standards and Purchasing Guidelines. The par tnership resulted in a sustainable infrastr ucture designed to establish the building blocks for efficient and sustainable per formance throughout the lifecycle of Laramar’s proper ties. Infrastr ucture addresses replacement purchases made during the normal course of business at Laramar’s proper ties; The purchase of products, materials and equipment during the retrofit or renovation process. STAR TEAM

Team of on-site and floating associates who have been identified as some of Laramar’s “best and brightest” who are available upon shor t notice to travel nationally to assist with proper ty transitions, turnarounds, staff openings and special projects; Star Team members are easily identified by the star on their name tags; the Star Team is coordinated by Laramar’s Assistant Vice President TABLET LEAS I N G *

Our website also allows real time iPad leasing technology. We believe that much of the leasing activity on ne w lease ups will happen as prospects are touring the community. Leasing team members can pull up real t ime availability and close a deal at any point on a tour right from their iPad. YIELDSTAR*

Leading web-based revenue management software program; allows Laramar to identify premium pricing oppor tunities at each proper ty; utilized by the in-house Pricing Manag e r REAL ESTATE SERVICES

THE LARAMAR GROUP

TECHNICAL RESOURCES BUDGETING AND F O R E C A S T I N G

The annual proper ty budgets are pre-loaded at the corporate office based on the proper ty’s historical and seasonal per formance, market research and corporate and proper ty level goals. The budgets are then sent to the field 90% complete and the RMs and CMs fine tune the budgets from this point. Laramar’s detailed revie w process involves the field, the COO and the Director of Financial Planning & Analysis. The client has final approval on each line item of proper ty budgets. This process results in more consistent and accurate budgets and does not burden the fiel d with a several month budget process and instead allows the field to focus on proper ty operations. Annual proper ty budgets and forecasts are produ ced using Microsoft Forecaster, a leading edge software program that allows for extensive analysis and sensitivity scenarios. Laramar’s budgets take into account each lease transaction and appropriate pricing strategies which prod uces ver y detailed and accurate budgets. COLLECTIONS

IDASHBOARDS

A custom cloud application which allows us to create and monitor multiple Key Per formance Indicators throughout our por tfolio in an on demand setting. By analyzing proper ty per formance by Region, MSA, Client and Ownership, we can instantly identify and recognize any key outliers and monitor predictive indicators to stay on top of proper ty per formance on a daily basis. LARAMAR’S WEBSITE

Entrata is Laramar’s website par tner. Navigation through the website by computer, tablet or smar t phone is seamless and prospects are able to search availability, current pricing and submit applications online. The Resident Por tal allows for online rent payments, submission and tracking of ser vice requests and for residents to re f e r f r i e nd s. L ar amar’s use of i Pad s wi t h si t e tablet capability provide a vir tual leasing desk from any location. It allows customers to spend more time vie wing the features and amenities of the community. Consultants can check availability, pricing and assist applicants with applying online from the Wi-Fi cafe instead of sitting at a traditional leasing desk.

The Collections Manager’s success, at each proper ty, is tracked and measured on a Ranking Repor t ever y month. Collections above 98%, 99% and 100% each month are re warded with a tiered monthly collections bonus (based on the percentage of the current month’s billings collected in that month before accounting month end). Outstanding amounts not collected by accounting month end are still pursued but measuring results by this cut-off date creates a sense of urgency for the Collections Manager. Amounts deemed uncollectable are turned over to a national collections agency.

All prospects are screened through Onsite, a leading edge web-based system. “Cut points” that determine at what level prospects are accepted, declined or “accepted with conditions” (requiring additional deposit) are managed by Laramar’s Pricing Manager and the Regional Managers. Actively managing this system allows for maximum occupancy with the highest possible resident credit profile. All prospects are screened for criminal background.

FINANCIAL CONTR O L S

REVENUE MANAGEMENT

All accounting functions are centralized in Denver which allows for detailed checks and balances. A centralized accounting function also allows for appropriate segregation of financial duties which creates significant efficiencies. All financial operations are monitored and tracke d through Yardi and MRI and our full ser vice accounting, proper ty management and asset management depar tments. Laramar’s accounting depar tment utilizes Yardi and MRI to streamline the reconciliation process which allows the accountants more time for financial analysis and proactive problem solving. Both Yardi and MRI have a full suppor t team at the Corporate office to assist all onsite employees with issues or questions that may arise.

RESIDENT SCREENING

Laramar utilizes Lease Rent Options (LRO) and Yieldstar, which are leading edge web-based re ve nue manag e me nt sof t ware p rog r ams. L ar ama r has an in-house revenue management exper t who is in the position of Pricing Manager. Weekly “pricing calls” are held with each proper ty to revie w LRO recommendations and identify additional pricing oppor tunities. Laramar identifies all premium pricing oppor tunities and these premiums are rolled into the rent on a unit-by-unit basis through LRO or Yieldstar; Laramar’s saying for this is “if there’s a preference, there’s a premium.” LRO has resulted in “revenue lift” (incremental revenue versus not using the software) of approximately 3%.

REAL ESTATE SERVICES

TECHNICAL RESOURCES S O F T W A R E A N D S Y ST E M S

Laramar suppor ts both Yardi and MRI platforms, which are fully integrated, web-based, front-end proper ty management and backend accounting systems. Entrata is Laramar’s website provider, which allows for online prospect and resident payments through our website, Proper ty Bridge and MRI Resident Por tal. Both Yardi and MRI have a full suppor t team at the corporate office to assist all onsite employees with issues or questions that may arise. Laramar has a full team of both Yardi and MRI mentors in each region to assist with all training for ne w hires and ongoing training for all field employees. S O P H I S T I C A T E D R EP O R T I N G S Y S T E M S

Laramar utilizes extensive and detailed repor ting systems to help us maximize our management capabilities and ensure the success of each proper ty we are involved in. Laramar provides clients with a full repor ting package including real time information through MRI and Yardi, weekly repor ts and a comprehensive monthly repor ting package including all financial statements and narrative owner’s repor t. Weekly repor ts include occupancy, traffic, leasing, closing ratios and projected exposure. The monthly repor ting package, distributed to our clients electronically, includes comprehensive “Ranking Repor ts” to track a wide range of metrics, which are measured across the por tfolio to quickly identify outliers and oppor tunities for improvement. These repor ts are analyzed by our Operations teams and are used to benchmark our success nationwide. Included in these repor ts are an Expense Matrix showing all expenses year to date, a Budget Comparison Year to Date repor t, as well as a Key Per formance Indicator (KPI) repor t. The KPI repor t provides “at-a-glance” repor ting for all Laramar proper ties nationwide. These KPI repor ts offer an additional layer of tracking proper ty activities. This repor t looks at each community individually, and provides detailed information on resident activity, revenue and expense management per unit, as well as detailed financial repor ting. In addition, our repor ting systems include tracking rent and rene wal trends at our proper ties. These repor ts focus on historical rental activity year t o d at e , i nclud i ng comp ut i ng t h e ave r ag e re nt f or a move out versus a ne w lease. Using this repor t in conjunction with a detailed repor t listing why residents move out helps Laramar stay competitive in the marketplace. These repor ts give us the oppor tunity to understand and react to changing market trends. This information helps us better attract and retain residents. We track rene wals on a monthly basis throughout our por tfolio, so we can look at trends on a national level as well. We feel combining specific market data with nationwide trends allows us to stay ahead of the competition and understand trends at ever y level of the market.

Laramar also utilizes iDashboards. This is a custom cloud application which allows us to create and monitor multiple Key Per formance Indicators throughout our por tfolio in an on demand setting. By analyzing proper ty per formance by Region, MSA, Client and Ownership, we can instantly identify and recognize any key outliers and monitor predictive indicators to stay on top of proper ty per formance on a daily basis. THE LARAMAR GROUP

THE LARAMAR GROUP