Laramar Services Book Rev. 2019 by The Laramar Group

WHATâ&#x20AC;&#x2122;S INSIDE

01. ALLOW US TO INTRODUCE OURSELVES.....8 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.....30 Multifamily Property Management Urban Neighborhood Construction Management Due Diligence R e a l E s t a t e Te c h n o l o g y Ve n t u r e C a p i t a l

03. FROM OUR MARKETING DESK............50 Marketing Approach I n t e r a c t i v e We b Social Media Marketing Analytics Reputation Management Resident Retention & Community Outreach

04. EXPERIENCE THE LARAMAR DIFFERENCE..68 D o ck S t re e t F l a t s - M i n n e a p o l i s, M N 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........78 Quality Programs H i r i n g P r a c t i c e s & Tr a i n i n g Sustainability T he Fillmore Center - San Francisco

“WHEN THE C U S T O M E R COMES FIRST, THE CUSTOMER WILL LAST.”

Robert Half

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 29 years, Laramar has delivered an unparalleled level of ser vice within the real estate industr y. The company has an expansive national platform that provides a comprehensive suite of both investments and asset management ser vices including: multifamily proper ty management, development, third-par ty revue management, constr uction management, due diligence and real estate technology venture capital. 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 re-positioning of assets through value-add projects. The company manages Class A to C proper ties, including downtown high-rises, small urban neighborhoods, and suburban garden-style proper ties. The company has a presence in over 20 markets from coast to coast and corporate offices in Chicago and Denver, with over 600 employees between our corporate offices and the field.

THE LARAMAR GROUP

ATTRACTING TOP TALENT THROUGH A TOP-NOTCH BRAND

A good, authentic brand that aligns with company values is attractive to not only to 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 29 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. OUR MISSION

Laramar strives to set a standard in apar tment living. Ever y resident can be confident that our on-site and corporate staff have one common goal, to provide quality and consistent ser vice. 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, integrity and creativity, distinguished by professionalism and the ability to offer exemplar y ser vice at ever y level. 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.

“FOR OVER 29 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, and along with experience and historic presence in 30 states, is currently in 16 major markets across the countr y.

CHICAGO

30 South Wacker Drive Suite 2750 Chicago, IL 60606 312.669.1200

CHICAGO-HALSTED 1806 N. Halsted Street Chicago, IL 60614 312.489.1600

DENVER

7555 E Hampden Ave Sui t e 250 Denver, CO 80231 303.991.0094 11

THE LARAMAR GROUP

WEST REGION De nver Ho l l y wood Las Vegas Los Angeles Oak land Phoenix San Fr ancis co San Jose Se attle Tuscon

CENTRAL REGION Chicago Cleveland Dallas Houston Indianapolis Milwaukee Minneapolis Oklahoma City St. L ouis Tulsa

COMING SOON Nash ville Pittsburgh Philadelphia Montre al Toronto

EAST REGION Atlanta Boston Charlotte Har tford Jacksonville Louisville Miami Ne wpor t Ne ws Ne w York Orlando Raleigh Tamp 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 $2 Billion; is a principal in the Laramar MultiFamily Value Fund (a discretionar y commingled real estate investment vehicle specializing in multi-family investments throughout the U.S.); a principal in the L-A/Laramar Urban Neighborhood Fund (a specialty Fund which invests in urban neighborhood MF and mixeduse proper ties in 8 major U.S. markets); a par tner in the Lakeside Workforce Housing Fund (an affordable housing fund which invests in affordable MF housing throughout the U.S.); a par tner in the Laramar/LMI joint venture (a JV with a major insurance company which invests in larger MF and mixed-use assets throughout t he U.S.);a par tner in Nine Four Ventures (a Real-Estate Te chnology Fund); and is a par tner in Covington Realty Par tners (a developer of MF and mixed-use proper ties in the Midwest and East Coast of the U.S.)

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 Pre sid e nts Org aniz ation ( YPO). He is the former chairman of the board for the Nor th Lawndale College Prep Char ter Schools and a former 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 from Nor thwestern Unive rsity.

Laramar is a nationally recognized investment and proper ty manager that has been ranked in the t op 50 largest firms in the U.S. by the National Multi-Housing 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 has built a successful 29year real estate investment track record having s ponsored and par ticipated in transactions t otaling in excess of $5 Billion.

REAL ESTATE SERVICES

SCOTT MCMILLAN

BENNETT NEUMAN

CHIEF FINANCIAL OFFICER

SENIOR VICE PRESIDENT - INVESTMENTS

Mr. McMillan is responsible for the oversight of the proper ty management division at Laramar. This includes all facets of operations, asset management, accounting and finance, constr uction, and all back-office functions including IT, Risk Management, HR, and Marke t i ng . Mr. McMillan directs this divis ion from Laramar’s corporate office location in Denver, CO.

Mr. Neuman is responsible for national investment activity and oversees the urban neighborhood investment team. Mr. Neuman joined Laramar’s predecessor company, Elkor Realty, in 1998. Since joining Laramar’s predecessor company, Mr. Neuman has been responsible for over $2.5 billion of investments. Additionally, he has a distinct exper tise in financing str uctures including individual asset loans to facility vehicles and tax-exempt bond financed transactions. Mr. Neuman has developed strong relationships with local owners and brokers in multiple markets, allowing him to identify acquisitions that are not widely marketed.

Mr. McMillan joined The Laramar Group in 2004 and has held several positions over his 14-year tenure including Accounting Manager, Assistant Controller, Controller, SVP Accounting, and ultimately was promoted to CFO in the fall of 2016. As CFO, in addition to the various accounting and finance functions, his responsibilities also include investor repor ting, debt and capital management, proper ty operations per formance, ne w business development, and project management. As Mr. McMillan h as grown with Laramar, his consistent focus has been on building a corporate and operations team focused on outstanding customer ser vice, industr y leading proper ty per formance, and flexible, timely, and accurate financial repor ting. Mr. McMillan has a B.S degree in finance with an em phasis in accounting from the Universit y of Nor thern Iowa.

THE LARAMAR GROUP

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 University of Chicago.

JEANNE SCHWAB

STACY VALENTINE

SENIOR VICE PRESIDENT - OPERATIONS

Ms. Schwab is the Senior Vice President of Operations and is responsible for the overseeing all national urban marketing platform effor ts at The Laramar Group. Ms. Schwab previously lead the growth and development of Laramar as a Vice President of Operations – Western US from 2010 – 2014 where she successfully managed more than 20,000 units in CO, MN, AZ, NV, WA, IL and CA and returns to Laramar following Sen ior Vice President of Operations positions at For um Real Estate, The Ir vine Group and most recently, Cor tland Par tners. Ms. Schwab is responsible for directing all of Laramar’s Fee Management, Affordable, Ne w Development and Joint Venture platforms, as well as all national marketing effor ts for the platforms, while maintaining Laramar’s unique culture and commitment to its clients.

Ms. Valentine assumes responsibility for directing operations for all of Laramar’s Urban Neighborhood por tfolios, as well as all of the national marketing and branding effor ts for Local by Laramar and Laramar Group.

During her 25 years of ser vice in the real estate industr y, Ms. Schwab has been a driving force of leadership and management. The current footprint of Laramar’s fee-managed clients now includes more than 150 multi-family communities in over 20 markets from coast to coast and corporate offices in Chicago, Los Angeles, and Denver, with over 600 employees between the corporate offices and the field. Under her leadership and in par tnership with Ms. Valentine, Laramar will continue an operating philosophy that maximizes the organization’s resources and exper tise on projects and business pursuits. Ms. Schwab holds a Bachelor of Science degree in Business Administration from University of Wyoming.

Before joining Laramar Group, Ms. Valentine spent 4 years at For um Real Estate Group as VP of Operations. At For um, Ms. Valentine was responsible for oversight of a diverse por tfolio including stabilized, repositioned, and ne w development assets located throughout Colorado, Minnesota, Arkansas, Alabama, and Florida. Prior to For um Real Estate Group, Ms. Valentine worked at Equity Residential for 16 years. She joined EQR in 1997 as a Proper ty Manager and enjoyed a successful career where she was promoted to a Sr. Regional Manager overseeing 3900 units in the Denver por tfolio. Ms. Valentine is passionate about leadership training and team building and uses those leadership principles to achieve excellence and optimize per formance at all levels.

REAL ESTATE SERVICES

AMY SMITH

BENJAMIN SLAD

VICE PRESIDENT - HUMAN RESOURCES

VICE PRESIDENT - INVESTMENTS

Amy Smith joined as the VP of Human Resources in November of 2018. Ms. Smith’s career in HR began 14 years ago in recr uiting, and has since held positions that have expanded into benefits, employee relations, compensation, per formance management, compliance, training, and HR technology implementation spanning the adver tising, subcontracting, and now multifamily housing industries. Throughout her career, Ms. Smith has focused on employee morale and engagement through realistic initiatives geared toward the unique culture of the national companies she’s worked for. She has also focused on the aspect of wellness to have positive impacts in benefits and company culture. Ms. Smith holds a Bachelor’s of Science degree from the University of Nor thern Colorado in Business Administration with a Marketing emphasis. She also holds her Maste rs in Business Administration from CU Denver and her SPHR (Senior Professional in Human Resources) cer t i fi ca t e.

Mr. Slad joined The Laramar Group in 2004 and is responsible for acquisitions, por tfolio management, dispositions, asset management and investor relations. Since joining Laramar, Mr. Slad has been involved 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. 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 O ver the Rainbow Association, is a member of the National Multi-Housing Council’s Emerging Leaders (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 Illinois. He also has an M.B.A. with a concentration in finance from the University of Illinois.

THE LARAMAR GROUP

JOSH MULLINS

MATTHEW LEVY

VICE PRESIDENT - INVESTMENTS

Mr. Mullins is the Vice President of Investments for The Laramar Group with a primar y focus on i nvestments in the major markets of Colorado, Texas and Utah. Since joining The Laramar Group in 2007, Mr. Mulli ns ha s been i nvolve d i n transaction s totaling almost 2,000 units with a value of over $350 million. Prior to becoming Vice President of Investments, Mr. Mullins was the Director of Financial Planning and Analysis, where he was responsible for the annual operating budgets of over 40,000 units. In this role, Mr. Mullins also oversaw the real estate taxes, financial repor ting, and lender financial covenants for the por tfolio.

Mr. Levy is the Vice President of Investments for The Laramar Group and is responsible for acquisitions and asset management throughout the western United States with a primar y focus on California markets.

Mr. Mullins joined Laramar after two years with The Bainbridge Companies, a multifamily owner, developer and condo conversion company where he was an Associate. In this role, he was involved in $750 million of multi-family development, condo conversions, and acquisitions of value-add multifamily oppor tunities. Mr. Mullins holds a B.S.B.A. degree in Finance from Florida State University.

Mr. Levy joined Laramar in June 2013 a fter 6 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 Frost/ Chaddock, Mr. Levy was the Acquisitions & Project Manager for Beverly Hills based Casden Proper ties, LLC. At Casden, Mr. Levy was involved in the acquisition and development for 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.

REAL ESTATE SERVICES

SCOTT KESSEL

BRANDON KRANTZ

DIRECTOR - ASSET MANAGEMENT

Mr. Kessel is the Director of Asset Management for the Chicago, Minneapolis, Washington DC, and Tampa markets. He is responsible for the development and execution of business plans, the analysis of por tfolio per formance and repor ting, and providing suppor t and direction to the operations teams. In total, he provides asset management oversight for 3,976 units (68 buildings) dispersed throughout the aforementioned markets. Prior to joining The Laramar Asset Man agement team in 2016, Mr. Kessel managed the acquisition/FP&A team with W.J. Br adle y Mor t gage Capital, a large nonbank residential mor tgage firm focused on the acquisition of independent mor tgage firms. He oversaw the management of shor t and long term financial planning, cash forecasting, cost analysis, and financial repor ting. Fur thermore, Mr. Kessel developed complex debt/equity financial models, pitch books, and management presentations for the acquisition of independent mor tgage firms. Before W.J. Bradley, Mr. Kessel was with Aon He witt in the institutional investment consulting group.

Mr. Krantz is the Director of Asset Management for the California and Colorado markets. He is responsible for the development and execution of business plans, the analysis of por tfolio per formance and repor ting, the oversight of development projects, and providing suppor t and direction to the operations teams. In total, he provides asset management oversight for 2,600 units (62 buildings) dispersed throughout Los Angeles, Denver and Oakland.

Mr. Kessel has a B.S. degree in finance from the Fischer School of Business at The Ohio State Unive rsity.

THE LARAMAR GROUP

Mr. Krantz joined Laramar in 2009 and has been involved in all aspects of the business , which contributes to his ability to effectively provide asset management suppor t to the por tfolio. Prior to becoming the Director of Asset Management, Mr. Krantz held management positions in the Accounting and Due Diligence Depar tments. While in these roles, Mr. Krantz assisted with the acquisition of over 82,000 units / 384 buildings and the disposition of 68,000 units / 276 buildings in a variety of transactions including re ce i ve r sh i p s and bank owne d p rop e r t i e s. Mr. Krantz also has experience with lease-ups, rent stabilized assets and value-add business plans.

ERIK PETTIT

FAITH AIDS

VICE PRESIDENT - CONSTRUCTION

VICE PRESIDENT - MARKETING AND BRANDING

Mr. Pettit oversees all aspects of the Constr uction team nationally, covering all Laramar platforms (Fee, Owned, Urban, etc.) Additionally, Mr. Pettit is tasked with building a national facilities maintenance platform across the por tfolio. With more than 20 years i n real estate constr uction, Mr. Pettit has managed over 100 million in capital projects and has built successful depar tments to suppor t owners and operators alike. In his most recent position as the Vice President of Facilities and Redevelopment at Enlivant Senior Living, Mr. Pettit was charged with creating, implementing, and completing all strategic cap-x planning and execution. Additionally, he revie wed all scopes, monitored the quality of all vendor work, and repor ted on all cap-x and maintenance spend on a quar terly basis. Prior to Enlivant, Mr. Pettit was successful at The Sterling Group where he was the National Director of Facilitie s completing acquisition assessments and lead the redevelopment program to ensure quality and to maximize ROI. Mr. Pettit’s project oversight extended over 28 countries under Inspirato where he lead various renovation projects that spanned the globe from Vail, CO to Florence, Italy.

Ms. Aids is the lead strategist, ste ward and champion of both the corporate and individual proper ty brands, overseeing the development and management of brand and marketing communication effor ts to suppor t the long-term strategic direction of the organization. Prior to j oining Th e L aramar Group, Ms. Aids spent five years at RedPeak Proper ties in Denver as the Head of Marketing. At RedPeak, Ms. Aids was responsible for all company and proper ty-level branding as well as the digital Marketing strategy. Additionally, she chaired the company’s Corporate Social Responsibility program. Prior to RedPeak, Ms. Aids worked at Carmel Par tners for seven years where she held various National Marketing positions including Sales and Systems Trainer, Marketing Specialist and Regional Marketing Manager.

Mr. Pettit holds his bachelor’s degree in business from Western Oregon University and has achieved multifamily designations as well as his GC license in Oregon and Washington State.

Ms. Aids received a Bachelor’s Degree in Communication Studies and a minor in Mass Communication from the University of Georgia. She is a 2015 graduate of the Downtown Denver Par tnership Leadership Program and she currently ser ves on the Apar tment Association of Metro’s Denver Board of Directors. Ms. Aids knows that today’s marketing climate dictates constant innovation and she is dedicated to staying ahead of trend and relevant to today’s consumer. She is passionate about the power of Marketing, not only to attract customers, but as a source of pride for her fellow Laramar team members.

REAL ESTATE SERVICES

PEGGY PANZER

ERICA GARRITY

VICE PRESIDENT - BUSINESS DEVELOPMENT

NATIONAL MARKETING DIRECTOR

Ms. Panzer takes the lead on generating ne w 3rd par ty management for Laramar Group. She is responsible for cultivating existing client relationships, identifying and bringing ne w clients to Laramar from initial communication through successful management of operations, RFP replies, pitch meetings, broker relations, business plans and development. Before joining Laramar, Ms. Panzer worked with Allied Orion Group and Trammell Crow Res i dent i a l w here s he held s eve ral positions, including Lease Up Manager, Director of Training, Regional Super visor and Regional Vice President. She was responsible for authoring policy manuals, per formance-based management, multi-site operations, high revenue growth, asset repositioning and redevelopment in a multi-state por tfolio.

Ms. Garrity, joined The Laramar Group in Januar y 2016 as the West Regional Marketing Manager, responsible for all Marketing effor ts for 5K apar tment homes across six states. Ms. Garrity’s key accomplishments included enhancing par tnerships with Laramar’s key 3rd par ty clients: Lakeside Capital, Pr ud e ntial & C oving ton Re alty, le ad ing community rebranding effor ts, capitalizing on media buying power & improving team efficiencies. In October 2017 Ms. Garrity was promoted to National Marketing Director. Ms. Garrity now oversees the full Marketing Team and leads various strategic marketing initiatives to enhance each prospect & resident’s experience from first point of contact through the rene wal of their lease.

Ms. Panzer has a A.S. degree from Emporia Unive rsity in Kansas and is passionate about the multi-family housing industr y. She holds numerous industr y-related designations: CAM, CAPS, COS, UPCS and HCCP and ser ves the Board of Directors for the Colorado Apar tment Association (“CAA”) and for the Apar tment Association of Metro Denver Board (“AAMD”). She is an AAMD Joint Legislative Action Committee member, an AAMD Alliance Committee member and was AAMD’s 2018 Tributes Chair. She was a Tributes Subcommittee Chair in 2005, 2008, 2011 and 2015 and the AAMD Person of the year in 2015 and ser ved as the Houston Apar tment Association’s (“HAA”) Education Committee Chair and as a HAA Scholarship Committee Member.

Prior to joining Laramar, Ms. Garrity spent 10 years working within multi-family marketing at both Aimco & Resource Residential (now US Residential).

THE LARAMAR GROUP

KAREN LANG

ASSISTANT VICE PRESIDENT - DIVISION CONTROLLER

Ms. Lang joined The Laramar Group in 2005 and is responsible for the investment and constr uction accounting functions, whic h i ncludes investor repor ting and relations, acquisitions and dispositions, accounting and contract suppor t for constr uction management, debt, audit, and tax preparation. Prior to becoming Division Controller, Ms. Lang was Assistant Controller and oversaw the proper ty accounting group and the production of all proper ty level financial statements. Prior to joining La r a ma r, Ms . La ng w orke d at Archstone-Smith as a Senior Accountant and oversaw proper ty level financial repor tin g for the West Region por tfolio. She has also worked i n the mutual fund industr y as an Accounting Super visor at Ja nus Ca p i t a l Group a nd Me rrill Lynch, where she was responsible for the daily valuation and repor ting of fund assets. Ms. Lang has a B.S. degree in Accountancy from the College of Ne w Jersey and is a CPA.

JOSH HARRIS ASSISTANT VICE PRESIDENT - DIVISION CONTROLLER

Mr. Harris joined Laramar in 2010 and oversees the finance and accounting functions, which includes all proper ty and corporate level financial statements, budgeting and forecasting, financial planning and analysis, cash management, and accounts payable. Mr. Harris first joined Laramar in the role of corporate accountant, and then corporate accounting manager. In these roles, Mr. Harris was responsible for producing and analyzing financial statements, cash management, and forecasting. He quickly ascended to the role of Assistant Controller and then in 2016, was promoted to Assistant Vice President and Division Controller. Prior to Laramar, Mr. Harris held various positions including Business Manager and Controller for San Juan Mountain and Golf Resor t, a star tup luxur y vacation ownership company in Colorado, as well as a family-owned single-family real estate development company. Mr. Harris holds a B.S. degree in International Finance and Spanish from the University of Alabama and an MBA from the University of Florid a.

REAL ESTATE SERVICES

KURT RAMIREZ

PAUL LA LONDE

GENERAL PARTNER - NINE FOUR VENTURES

PRINCIPAL - NINE FOUR VENTURES

Mr. Ramire z is a par tner at Nine Four Ventures, where he is responsible for deal sourcing, diligence, and firm operations.

Mr. La Londe is a Principal at Nine Four Ventures. Mr. La Londe joined the firm in 2018 from Transmedia Capital, an early stage venture fund based in San Francisco where he worked with LoanSnap, SFOX, Spacious and TalkIQ, among many others. Previously, Mr. La Londe worked for Ron Conway at SV Angel, a leading seed stage venture capital firm where he worked par ticularly close with Car ta (fka eShares), Fictiv, Instawork and Theorem. Prior to SV Angel he worked at Goldman Sachs where he invested capital on behalf of a select group of families and institutions and prio r to Goldman, Mr. La Londe worked for Seven Hills Par tners, a boutique investment bank. During his time at Seven Hills he advised early stage technology companies on a broad range of strategic alternatives including mergers, acquisitions and capital raising.

Prior to Nine Four, Kur t was a vice president at Moderne Ventures, a Chicago-based real estate tech fund, where he was a member of the investment team, ran firm diligence and operations, and suppor ted one of the first realestate specific industr y accelerators. Kur t was also a consultant at Bain & Company, where he worked across the building products, industrial, and retail industries. Earlier in his career, Kur t was a Senior Associate at Cue Ball Capital, a venture capital firm f ocused on consumer and information media invest ments, and Greenfield Par tners, a real estate private equity firm. Kur t received an MBA from Har vard Business School and BS/BA degrees from Vanderbilt University.

NINE FOUR VENTURES

Mr. La Londe holds an MBA from the Whar ton School at the University of Pennsylvania and a BS in Finance from Santa Clara University.

RYAN JOHNSON

KAILEY MAGDER

SENIOR ASSOCIATE - NINE FOUR VENTURES

MARKETING DIRECTOR - NINE FOUR VENTURES

Mr. Johnson is the Senior Associate for Nine Four Ventures and is responsible for the sourcing and execution of investments and leading the i ntegration of proper ty technology withi n the Laramar por tfolio. He is also responsible for the due diligence, financial analysis and valuation for investment oppor tunities and monitoring the per formance of the por tfolio companies.

Ms. Magder is the Marketing Director at Nine Four Ventures where she works with por tfolio companies to strategize marketing effor ts and acquisition approaches while offering guidance and suppor t in domains ranging from direct mailings to SEO management. Ms. Magder also curates the Nine Four Ventures brand architecture and messaging to ensure the target audience is captivated, educated and engaged.

Prior to Nine Four Ventures, Mr. Johnson was the Investment Manager for The Laramar Group and was responsible for acquisitions, dispositions and por tfolio management throughout the Western United States. Mr. Johnson returned to Laramar after 2 years as Senior Associate for Urban One, a Los Angeles based real estate development firm where he was responsible for acquisitions, business development, investor relations and project management. Prior to Urban One, Mr. Johnson was the Seni or A na ly s t for T he L aramar Group and was responsible for acquisitions, dispositions, investor relations and por tfolio management. At Laramar, Mr. Johnson was i nvolved in over $650 million of acquisitions and $150 million of dispositions comprising over 60 assets in Los Angeles, San Francisco, Chicago, Washington, D.C. and Florida. Mr. Johnson received his B.A. from the University of Wisconsin â&#x20AC;&#x201C; Madison and is actively involved in the Urban Land Institute and the Wisconsin Real Estate Alumni Association.

Prior to working at Nine Four Ventures, Ms. Magder joined the Laramar Group in early 2017. As the Los Angeles Marketing Manager, Ms. Magder was tasked with coordinating space upgrades, traditional adver tising, and social media marketing for a diverse por tfolio of proper ties. In Januar y 2018 Ms. Magder was promoted to Regional Marketing Manager overseeing key markets such as, Denver, Tampa and L os Angeles. Prior to working at Laramar, Ms. Magder owned small bu siness and held marketing positions in Hospitality and Retail.

Nine Four Ventures invests in growing technolog y companies impacting the built world and creates a ver ticaliz ed investment str ucture alongside the Laramar Group whereby Nine Four can invest capital in por tfolio companies, and the Laramar Group can provide an organic customer-base (through owned and managed assets), strategic guidance, and pilot oppor tunities.

REAL ESTATE SERVICES

MARC GOLDSTEIN

MICHAEL HORNBROOK

CO-FOUNDER - COVINGTON REALTY PARTNERS

PRESIDENT & CEO - LAKESIDE

Mr. Goldstein is th e co-founder of Covington Realty Par tners. Mr. Goldstein is responsible for the day-to-day management, overseeing all aspects of Covington’s operations, including its acquisitions, development and asset management.

Mr. Hornbrook, is responsible for directing Lakeside’s strategy, investments and overall operation. Mr. Hornbrook has nearly 25 years of experience in the low-income housing tax credit industr y as a transactional lawyer in private practice and as a senior executive with one of the largest owners of affordable proper ties in the countr y.

Mr. Goldstein has more than 25 years of real estate experience, specifically in the acquisitions, development, and repositioning of multifamily and retail proper ties. During his career, Mr. Golds tein str uctured over $3,000,000,000 of real estate transactions. Mr. Goldstein is on the Board of Directors of the National Multi Housing Council (NMHC), a member of the Urban Land Institute (ULI), Institute of Real Estate Manag e me nt (I REM) , Real Es tate Inves tment Securities Association (REISA), Home Builders Association. Marc also sits on the Advisor y Board for the Real Estate Academic Initiative at Har vard Unive rsity, is a fellow at the Aspen Institute, and is a Cer tified Proper ty Manager (CPM). Marc is a member of YPO; he is a board member and founder of the Aspen, Colorado Chapter. Mr. Gold s t e i n i s t he former treasurer and member of the national council of Jazz Aspen, a 501c3 created to fund music education in Pitkin counties Roaring Fork Valley. Mr. Goldstein is an alumnus of the University of Illi nois and a graduate of the Advanced Management Development Program in Real Estate from Har vard University Graduate School of Des ign.

COVINGTON REALTY PARTNERS + LAKESIDE

Since its inception in 2012, Mr. Hornbrook has presided over Lakeside’s acquisition and operation of over 4,500 workforce housing units across five states, consistently delivering targeted cash returns and maintaining overall por tfolio occupancy in excess of 96%. From 1998 to 2002, Mr. Hornbrook was a Par tner at McGuireWoods, LLP and coChairman of its Affordable Housing Group. From 2002 to 2010, Mr. Hornbrook was Senior Vice President at AIMCO where he was primarily responsible for all aspects of the tax credit program since the creation of its affordable division in 2002, including tax credit originations and equity syndications. Immediately prior to co-founding Lakeside, Mr. Hornbrook was an Executive Vice President with Boston Financial Investmen t Management, where he was responsible for tax credit investor production and por tfolio acquisitions.

REAL ESTATE SERVICES

Multifamily Property Management // Urban N e i g h b o r h o o d / / A f fo rd a bl e H o u s i n g / / C o n s t r u c t i o n Management // Due Diligence // Real Estate Te c h n o l o g y Ve n t u r e C a p i t a l

P R O P E R T Y MANAGEMENT DIVISIONS MULTIFAMILY URBAN NEIGHBORHOOD AFFORDABLE HOUSING DEVELOPMENT CONSULTING CONSTRUCTION MANAGEMENT DUE DILIGENCE JOINT VENTURES

THE LARAMAR GROUP

REAL ESTATE SERVICES

Laramar takes pride in its people. We have developed a detailed network of communication and suppor t throughout our national por tfolio. To track, analyze, repor t and deliver quality results for each proper ty we manage, our associates are trained to effectively lead, super vise, and communicate. Each on-site team is suppor ted by an Area Vice President or Regional Manager, who oversees each asset with 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. 33

THE LARAMAR GROUP

REAL ESTATE SERVICES

MULTIFAMILY P R O P E R T Y MANAGEMENT C

Our success as an investment and management company begins with our people, experience, culture and technologies. This successful combination drives per formance and NOI, and delivers exceptional results. When revie wing our most successful projects, a fe w key metrics stand out: • T E A M – The most impor tant factor in the success of any project is the selection and training of the team. From the manager to the leasing agent to the maintenance team on the proper ty, they set the standard for the deliver y of ser vices and feeling of community at the proper ty. This is critical in creating leasing velocity, improving resident retention and driving pricing power at rene wal. • E N T R E P R E N E U R I AL I S M – A consistent focus on the bottom line encourages team members at all levels to look for oppor tunities to reduce expenses, maximize effective rents and create other income oppor tunities. Driving NOI is our number one priority. • S U P E R I O R C U S TO M E R S E R V I C E – One of the greatest ways to distinguish a proper ty is through exceptional customer ser vice. Consistent from the initial tour to the day of move out. • C O M M U N I T Y – People want to be par t of something. Not often discussed as par t of the leasing process yet critical in the decision making for prospective and rene wing residents. Many factors contribute to the sense of community, from amenity programming to the staff ’s relatability to the target demographic’s interest and needs.

• P R O D U C T – Delivering a high quality experience at ever y oppor tunity. From premier curb appeal to an immaculate leasing office and unit interiors that relate to the proper ty’s demographic, ever ything matters. THE LARAMAR GROUP

RE V E N U E M A N A G E M E N T

Laramar has a third par ty revenue management depar tment, which is proficient in both Lease Rent Options (LRO) and Yieldstar- leading edge, web-based revenue management software programs. Laramar develops a pricing matrix for each proper ty, and each unit is priced individually by identifying any and all oppor tunities for premium pricing. BU S I N E S S I N T E L L I G E N C E

Laramar leverages technology to maximize our marketing analytics, and we understand how to collect, analyze and interpret data to realize which assets are per forming the best, and which areas of our business need improvement. We emp loy a combination of data, systems, software and people to impact net operating income. This sophisticated approach is applied using the following principles: Plan, Allocate, Measure and Manage. Through the launch of Laramarâ&#x20AC;&#x2122;s RE Technology Fund, Nine Four Ventures, Laramar is able to pilot, test and deploy a variety of useful and innovative technology platforms in order to simplify, enhance and upgrade processes for the on-site teams as well as amenities for the residents. Laramar utilizes extensive and detailed repor ting systems to help us maximize our management capabilities and ensure the success of each proper ty. 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 in real time.

REAL ESTATE SERVICES

MULTIFAMILY P R O P E R T Y MANAGEMENT URBAN NEIGHBORHOOD D I V I S I O N

Laramar has established a division specifically dedicated to smaller multifamily mixed-use proper ties in key urban neighborhood markets. This urban neighborhood division showcases Laramar’s unique ability to bring an institutional level of customer ser vice, management and resident programs to smalle r p rop e r t i e s. To capitalize on the continued and growing urbanization trend in major markets, Laramar developed a specialized management platform exclusively for small buildings to bring sophisticated, effective, and efficient management techniques to a historically “mom and pop” industr y. To date, Laramar is investing in and managing proper ties within this strategy in six core markets: Chicago, Minneapolis, Los Angeles, Denver, Tampa, and Washington D.C.. Laramar has become one of the leading owners and managers of urban neighborhood proper ties throughout the United States with plans for expansion in Na s hv i lle, Pi t t s bur g h , Montre al and Toronto Within each core market, we have a dedicated team to maximize our efficiency and drive superior results:

• • • • • THE LARAMAR GROUP

One central leasing and management office Maintenance teams organized by geography/specific neighborhoods Preventative maintenance programs Shared marketing programs and resident events Resident Ser vices Por tal

CURRENT MARKETS

POTENTIAL EXPANSION

Chicago Denver Los Angeles Minneapolis San Francis co/Oakland Tampa

Montre al Nash ville Philadelphia Pittsburgh Toronto

REAL ESTATE SERVICES

MULTIFAMILY P R O P E R T Y MANAGEMENT URBAN NEIGHBORHOOD D I V I S I O N

Resident data and custom research revealed that the majority of these urban neighborhood residents are professional millennials and gen Z who desire to reside in neighborhoods with easy access to the downtown CBD. While these smaller proper ties do not include many of the amenities of a ne w high-rise development, these residents were driven by the proximity to hip restaurants, enter tainment and nightlife, and an array of shopping options in these urban neighborhoods. With this distinctive resident profile and unique product type, we developed our own brand for this growing por tfolio – L ocal by L aramar. This brand ing builds on the neighborhood focus of the por tfolio and resonates with our young, professional target base.

Local by Laramar’s platform brings experience and operational exper tise with differentiating programs such as rent optimization, digital and social media marketing, and buying power with national purchasing programs designed to: • • • • • •

Decrease Operating Costs Drive NOI Increase Quality of Ser vice Leverage Technology for operations, marketing, and leasing Provide compelling, relevant resident experience Increase loyalty a nd rene wal rates

Please refer to www.mylocalapt.com for more details on the Local by Laramar Branding Platfor m. THE LARAMAR GROUP

AFFORDABLE H O U S I N G Laramar recently established an affordable housing division focused on this increasingly impor tant segment of the multifamily industr y. In 1986, the US government star ted the Low Income Housing Tax Credit (LIHTC) program in order to incentivize private investment in affordable housing. This program was designed to make rent affordable to households with income below 60% of the median US income. The program has been the primar y vehicle for producing and preser ving low cost rental housing with 2.2 to 2.4 million units constr ucted since LIHTCâ&#x20AC;&#x2122;s inception. The LIHTC program accounts for approximately 90% of affordable housing developed in the US (the other 10% is typically in the form of housing subsidies). These affordable proper ties fill a critical role in multifamily housing, and as housing costs continue to rise faster than average incomes, demand for affordable housing increases. In the next decade, the availability of federal housing subsidies is projected to decrease which fur ther erodes the inventor y of affordable multifamily proper ties. Given these market dynamics, Laramar established an affordable housing fund with Lakeside Capital Advisors to invest in and manage a por tfolio of affordable multifamily proper ties across the U.S. Our strategy is to bring the same level of exper tise and professionalism to this por tfolio including: national purchasing power, preventative maintenance programs, marketing digital programs, and leasing and operations training.

Currently, Laramar owns and manages over 29 affordable communities (5,000+ units) in 10 different states. Additionally, Laramar provides the highest level of affordable housing compliance through their inhouse compliance depar tment. This dedicated depar tment has over 29 years of combined experience in the affordable housing arena and offers personalized ser vices for this por tfolio with special financing including LIHTC, BOND, Project Based Section 8, and HOME. Laramarâ&#x20AC;&#x2122;s compliance depar tment revie ws 100% of all move-in files, completes internal revie ws semi-annually, provides detailed utility allowance analyses, and maintains state agency compliance. THE LARAMAR GROUP

REAL ESTATE SERVICES

Laramar’s constr uction management division handles assignments from routine capital items to major constr uction projects. Due to Laramar’s national reach and volume of constr uction projects, material suppliers and national and local vendors are utilized to ensure the most costefficient pricing on all projects. Laramar leverages our nationwide network of constr uction professionals to ensure that each project is completed in a quality manner, on time, and within budget. Our team manages the project from star t to finish, including budget development and p re-constr uction through project closeout, vendor selection, coordination of material procurement, negotiation and administration of constr uction contracts. We also conduct a projectspecific forensic investigation and preparation of specific design and scope of work documents and bid packages, such as building facade, roof, window system, cladding, flashing, exterior coating repairs and replacement; landscaping repairs and replacement, fencing, and drainage collection systems; and an evaluation of site amenities. In addition, our team coordinates si te-specific sur veys for energy efficiency, lighting, water, mechanical, electrical, plumbing systems, automation, and consumption management, with a common goal of enhancing revenue for each proper ty we manage.

As a ne w development nears completion, Laramar’s Senior Project Managers revie w and provide input on the punch list template to be used as the final form. The Project Manager will revie w and punch the designated mock-up unit per the constr uction schedule provided by the client, and will, in conjunction with the future permanent site personnel, walk and punch each unit for the a period of time as determined between Laramar and the client. The Project Manager and site personnel will then per form re-walks or back punches for sign-off of completed items. Laramar’s designated site personnel will continue punch listing and re-walking each unit through the scheduled constr uction completion date, or when the first units deliver. Laramar’s Project Manager will also provide monthly tracking and required site suppor t. THE LARAMAR GROUP

REAL ESTATE SERVICES

Laramar’s dedicated due diligence and transition team is str uctured in its approach to deliver detailed analysis and insight into proper ty operations and physical needs for multi-family, retail, office and mixeduse assets. Our deep understanding of markets and extensive industr y knowledge provides a strategic advantage over the competition. We have vast experience with stabilized proper ties, repositioning strategies, constr uction processes and value-add business plans which allows us to identify potential concerns and oppor tunities. The ser vices we provide instill the confidence needed to make intelligent real estate decisions through proper ty-wide exterior assessments; common area and inunit inspections; re sident lease file audits and analysis; and financial statement audits and expense analysis. The due diligence team will work with all Laramar depar tments to develop a business plan, operating and capital budgets that address any operational efficiencies or savings, deferred maintenance needs, and any desired exterior, common area and/or in-unit renovation or rehabilitation request s t o me e t a cli e nt s obj e ct i ve s. Our comprehensive due diligence ser vices include the following: • Transaction suppor t, whether buying or selling, to include the coordination of onsite visits and information requests • Detailed exterior, common area, building systems and unit inspections • Complete lease file revie w, analysis and abstract • Ser vice contract revie w, analysis and abstract • Utility and energy use audit • Application of technology platforms • Proper ty rebranding and repositioning • Operating and capital budget preparation, rehabilitation and renovation scope creation and cost-benefit analysis • Coordination and revie w of third-par ty environmental inspections, engineering repor ts, ALTA sur veys, zoning repor ts and any other consultants a project may require • Presentation of results and findings to the client via a due diligence memo

Laramar’s individualized approach to each assignment allows us to create a customized business plan for each asset that will provide the foundation for our operations and constr uction teams to take action immediately upon takeover to drive results and create change. THE LARAMAR GROUP

REAL ESTATE SERVICES

REAL ESTATE TECHNOLOGY VENTURE CAPITAL

Nine Four Ventures is a ver tically integrated venture capital fund that invests in technology companies impacting real estate and the built world. The fund leverages Laramar’s 30 years of experience owning and operating real estate, and a network of industr y influencers to provide por tfolio companies capital, a customer base, strategic guidance, and an oppor tunity to pilot and roll out products. The mission of the fund is to: • Drive top-quar tile returns with a de-risked investment model • Arm entrepreneurs with the tools, knowledge, and capital to create value and drive our industries for ward; • Harbor a community for technology companies with the real estate indus tr y, fellow investors, and th ough t lead ers to exch ange id eas and adopt best-practi ce technology solutions. We believe execution requires more than providing our por tfolio companies with capital. It means leveraging our experience of owning and operating real estate and using our network of industr y exper ts to provide strategic guidance. 47

THE LARAMAR GROUP

AREAS OF EMPHASIS

AI, Machine Learning, and Predictive Analytics Maintenance Energy and Sustainability IoT Ins urance: Title, PMI, Home, Mobility Res idential/Hospitality Sup p ly a nd Supply C h ain L og istics 5G and Infrastr ucture Mobi li t y OTHER AREAS OF INTEREST

Blockchain Applications Inves tment A nalysis Mov i ng a nd Storag e Constr uction and Material Tech Security ( Physical and Digital) AR/VR Prop er t y a nd Facilitie s Manag e me nt Lending Listing Ser vices / Tech-Enabled Brokerages

REAL ESTATE SERVICES

Marketing Approach // Interactive We b Social Media // Marketing Analytics R e p u t a t i o n M a n a g e m e n t / / Resident Retention Community Outreach //

// // &

At Laramar, we understand that good marketing can drive traffic. Great marketing can connect customers with a brand and drive revenue growth. Laramar’s Marketing team strives to position and brand our communities with an established identity that is recognizable, distinctive and one that resonates with the target demographic. Our team’s focus is to constantly be thinking outside the box for innovative and effective methods to drive occupancy, maximize NOI, and ensure marketing dollars are spent in the most efficient way. We also believe in telling a great stor y. To tell a stor y about our proper ties, Laramar’s marketing team conducts an in-depth revie w of the market, submarket and surrounding neighborhood. We love to create a narrative of what makes each proper ty unique including local landmarks, trendy area restaurants, major employers, and transpor tation avenues. This research is channeled into creating a specific resident profile for the community that details the target demographic, including age ranges, marital and economic status, as well as education levels. Community names and branding concepts are developed to engage and attract the target demographic. Once marketing programs are launched, the progress of each initiative is tracked to gauge its success. These customized marketing programs are constantly evaluated and updated, allowing Laramar to focus marketing dollars on the campaigns that have the highest success. Fur thermore, our Marketing eam identifies key strategic par tnerships and marketing oppor tunities based upon our assessments of the community. With a national presence, Laramar understands that no two neighborhoods are alike. Therefore, we customize our marketing effor ts so they are relevant to each unique neighborhood. We evaluate each market to determine oppor tunities for our marketing effor ts – we par tner with local charities and organizations, stores and restaurants to host monthly or quar terly events where residents can fur ther develop their relationship with the city and the community in which they live.

For examples of our unique approach to marketing, take a look through case studies in 04. Experience the Laramar Difference. THE LARAMAR GROUP

REAL ESTATE SERVICES

THE LARAMAR GROUP

REAL ESTATE SERVICES

INTERACTIVE WEB/ MEDIA INTERACTIVE WEB S I T E

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. Laramar works with several website vendors, including Rent Café and On-Site. These par tnerships allow us to offer a fully integrated, online leasing experience. Since 80%+ 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. 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 availability date. With state-of-the-a r t technology, prospective reside nts can go from tour to lease execution all from their mobile device.

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 filled out and submitted online and are integrated with On-Site’s verification product and Yardi. Prospective residents receive immediate results on their approval status. Once approved, 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 On Site and Laramar ser vers to ensure copies of the document are available if needed. RESIDENT PORTAL

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. TABLETS

SEO/PPC

With online activity continuing to increase, Laramar has implemented SEO (Search Engine Optimization) to increase our website visibility and traffic. This tool allows us to increase our online presence and gives prospective residents more oppor tunities to find our websites, and in turn fill out guest cards. This system has allowed Laramar to be on the forefront of prospects’ searches more frequently than in the past. Laramar also u ses PPC (Pay-per-Click) to help increase website visibility and traffic. A proper ty bids for key words or phrases in Google searches which provides higher visibility on the results page - hence, driving more traffic to the proper ty’s webs ite . ON-SITE & RENT C A F É

Leads are tracked and managed through OnSite’s leasing suite. The leasing team is able to vie w and manage their leads or scheduled follow ups through an easy to use online dashboard. Associates can send e-mails or text messages about specia l incentives, available units, or provide

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 café 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 home finishes.

REAL ESTATE SERVICES

THE LARAMAR GROUP

S M

O C I A E D I

L A

53% of Millennials use social media when exploring a ne w brand. For tech-savvy target demographics, Laramar customizes a marketing plan to place a strong emphasis on social networking. For this cohor t, we design a website largely integrated with social media, and the community landing page also hosts a widget with the proper ty’s recent Facebook, Twitter and Inst ag r am p osts . LARAMAR’S S O C I A L M E D I A G O A L S + P R A C T I C E S

• We vie w social 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 • We share u pcoming 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 interests in our communities 58

MARKETING PLANS

De fined Goals and Objectives: We develop detailed marketing plans with ver y specific goals to monitor progress towards revenue objectives. As par t of the goal setting process, we define lease-up targets, traffic requirements, conver si on assump t i ons, cost p e r le ad and cost p e r le ase . Localized and Optimized Marketing: Laramar understands the impor tance of customizing our marketing tactics for each asset. Therefore, Laramar specifies â&#x20AC;&#x153;localizedâ&#x20AC;? marketing tactics customized for each proper ty based on market, neighborhood, asset type and target customer to ensure the best results. For example, national ILS per formance can var y from market to market. Apar tments.com can be strong in major markets while Zillow can produce a better return is smaller metros. In addition, there are regional listing sites that typically generate more qualified leads than the national sites. We leverage aggregate per formance statistics across our entire managed por tfolio and apply that knowledge to ne w assets. P R O A C T I V E L Y A L L OC A T I N G M A R K E T I N G B U D G E T

Right-Timed Lead Generation: We revie w lease expiration profiles, occupancy trends and 60-day exposure repor ts to proactively increase (or decrease) marketing activity to meet the demand for leases. This proactive approach helps to minimize occupancy changes and maximize rent revenue. 59

THE LARAMAR GROUP

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

Laramar utilizes a number of different tools and resources to ensure that we are adequately reaching ne w prospects, following up on all incoming leads, and spending our marketing dollars efficiently. The On-Site web and leasing platforms offer the ability to track how prospects hear about Laramar proper ties and provide repor ting capabilities to optimize our effor ts. M E A S U R I N G P E R F O RM A N C E

Dynamic Lead Tracking: We track the number of leads generated from each marketing source so we can 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: Our 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: Email 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 developing and maintaining the community brand. Laramar encourages feedback from our residents on each community’s website as well as 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, Google, 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 within 24 hours. 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 “Liked” what we are doing or how we are doing it, to please provide their feedback on Yelp or Apar tmentRatings.com. When residents log in to their resident por tal on the community 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 cafés. Finally, we encourage resident feedback and communication on our website and social media accounts. THE LARAMAR GROUP

REAL ESTATE SERVICES

R E S I D E N T S A T I S F AC T I O N S U R V E Y S

An avenue Laramar uses to measure both sales and customer ser vice per formance is through resident sur veys with Kingsley. 10% of residents are sur veyed each month with questions about their experience at the community, perceived value of the product offered and inquiries on their final apar tment home selection to provide feedback and identify changes in the market trends or competitive set. Additionally, 100% of move-inâ&#x20AC;&#x2122;s are sur veyed within the first 30 days. These move-in sur veys ensure that we are providing top-notch customer ser vice and are providing feedback in oppor tunity areas. We value transparency, and we find that regular communication with residents is th e best way to gauge satisfaction, increase resident retention and attract ne w residents. Many of the marketing programs that we implement during lease ups continue after stabilization, and we make an effor t to create a community at each proper ty that we manage. C O M M U N I T Y O U T R E AC H

We strongly believe that marketing effor ts should continue long after a proper ty achieves full occupancy, and these effor ts are critical for resident retention. Retention is also enhanced through local community outreach oppor tunities and collaborative marketing effor ts.

Establishing a sense of community is critical for any development, as residents evaluate their likelihood to rene w or refer early on during their residency. Laramarâ&#x20AC;&#x2122;s outreach effor ts are par t of our company values, and we work hard to establish a sense of community at ever y site we manage. THE LARAMAR GROUP

C a s e S t u d i e s Fe a t u r i n g : D o c k S t r e e t F l a t s, M i n n e a p o l i s, M N / / 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 / /

Dock Street Flats is a vibrant community in the bustling Minneapolis area. The proper ty is a mixed-use development 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 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 opened and welcomed its first residents in December of 2013 and has been successfully managed by Laramar ever since. Today, the community continues to secure leases from the positive relationships between major employers and local firms such as Target, 3M, Medtronic, General Mills, U of M, Amazon and United Healthcare.

Dock Street Flats focuses on resident retention through outstanding ser vice for their residents and creating a sense of community with monthly events and social hours. In 2018, Dock Street Flats was awarded the Kingsley Excellence Award for exceeding all industr y benchmarks in resident satisfaction. THE LARAMAR GROUP

REAL ESTATE SERVICES

BRIDGEYARD ALEXANDRIA, V A R E D E V E L O P M E N T

In March 2013, Laramar acquired Hunting Point Apar tments, a 2 building, 530-unit community in the historic Old Town district of Alexandria, VA. The proper ty is situated along the Potomac River with miles of r unning and cycling trails, offering residents numerous oppor tunities to enjoy the outdoors. Fol l ow i n g t he a cq uisition of th e asse t, L aramar launch e d a re branding and repositioning campaign. This included a ne w name, Bridgeyard Apar tments, as well as upd ated collateral, signage and lifestyle imager y. The proper tyâ&#x20AC;&#x2122;s marketing campaign included banners, A-frame directional and bulletin signage, regular open house events, direct mailers, sign spinners, referrals to both residential and locator ser vices, a social media presence with emphasis on Facebook, Twitter, and Instagram and an aggressive Craigslist posting routine. Laramar completed all capital projects. Our team re-piped the domestic water lines and added controls to the boiler system. Both window and electrical replacements are complete in both buildings. The lobbies and hallways have been upgraded including ne w flooring, carpet, furniture, paint and both, directional and unit signage. The pool lounge was completed and the fitness center updated. Awnings and entrance signage were completely redesigned and installed. All unit interiors renovations are complete including ne w appliances, cabinetr y and fixtures. As of Q2 2018, a refinance was completed to replace the original constr uction/bridge loan. This long-term financing vehicle execution was highly accretive to the par tnership and was achieved based on the success of the proper ty renovation and business plan. 73

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

•

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

•

Upgrade lobbies and building entrances to be more modern and inviting

REAL ESTATE SERVICES

L A RAMARâ&#x20AC;&#x2122;S ATTENTION TO DETAIL MEANS OUTSTANDING LIVING SPACES WITH UNWAVERING MAIN T E N A N C E S T A N D A R D S A N D P E RSONALIZED SE RVICE THAT WILL EXCEED EXPECTATIONS. LARAMAR CONTINUALLY S T RIVES TO MAKE A LIVING ENVIRONMENT T H E BEST IT CAN BE, AND THE EXPERIENCE S E COND TO NONE .

Laramarâ&#x20AC;&#x2122;s standardized National Operating Platform is utilized across the por tfolio and leverages technology whenever possible in order to drive NOI at the proper ty level. It provides standards of operations at each level of the company that are proven â&#x20AC;&#x153;best practices,â&#x20AC;? and these are easily adaptable from one proper ty to the next. This provides for speed of execution at takeover and enables employees to move seamlessly from one site to another, allowing them to both share and implement ne w ideas that can be used across our national por tfolio.

One aspect of our platform focuses on Operations and Maintenance Plans. Our compreh ensive, detailed and building-specific plans call for an annual, critical maintenance calendar to ensure that all preventative maintenance measures are completed. In addition, our local and national management presence has allowed us to forge relationships with major suppliers and vendors to decrease costs and drive NOI. THE LARAMAR GROUP

QUALITY PROGRAMS ACE PROGRAM

Laramar’s ACE Program is our marketing and leasing training platform. We have identified a group of onsite community managers and leasing associates who maintain a deep exper tise in a specific marketing area or program such as Reput ation Management, Social Media, online leasing, or Kingsley Research. These individuals then help train and suppor t other individuals in their area of exper tise. This training is conducted in person, in live webinars, and dedicated training classes. 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. BLOCKING

A quar terly process to revie w all purchasing in the field (down to nuts and bolts) with a team from our maintenance and constr uction groups and identify the most cost-effective products that the field should be purchasing and then “block” alternate products with our national supplier, Wilmar; field associates tr ying to purchase

blocked items are then re-directed to the approved products; this program results in significant expense savings. CAR/BIKE SHARE PROGRAMS

Implemented at urban proper ties so that residents can “check out” a car or bike for shor t term use; established par tnership with ZipCar and Lime Bike; not only green but also a great amenity to offer residents. CUSTOMER SERVICE EMAIL

Complaints may be made to our designated Customer Ser vice E-Mail Account at getintouch@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. 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. L ARAMAR UNI V E R S I T Y

Comprehensive training program including classroom, sm all group, one-on-one, mentor, video, audio, pre- and post-testing, and extensive use of leading-edge web-training technology. M AINTENANCE S H O 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 supplies. N ATIONAL PU R C H A 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 technology and ser vices at competitive rates, to develop revenue stream oppor tunities for the proper ties from these programs. Our pricing 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. N A T I O N A L P R O G R A M S A N D A N C I L L A R Y SERVICE

Laramar has a team that works with various providers around the countr y to maximize revenue potential and communicates/coordinates w ith the community manager as agreements are negotiated. We work with providers such as AT&T, Verizon, Centur yLink, Clear wire, Sprint, Laundr y Locker, Zip Car, Amazon, Comcast, Time Warner, Bright House Networks, Sh er win-Williams, 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 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.

REAL ESTATE SERVICES

ON-SITE & RENT C A F É

REVENUE MANAGEMENT

Laramar’s website and proper ty management par tners; Laramar utilizes call tracking and repor ting, lead management, Craigslist ads, marketing, Prospect Por tal, online lease execution, Site Tablet, resident screening, criminal background check, resident pay, 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. This software automatically creates guest cards as leasing calls and emails are received which 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.

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 rental rates and driving NOI.

PAYSCAN

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. POLICY & PROCED U R E S M A N U A L S

All web-based with full search functionality that can be easily updated and the field always has access to current information. PREFERRED EMPLO Y E R P R O G R A M

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 RENTER’S INSURA N C E

Laramar requires renter’s insurance in order to protect our residents’ proper ty from fire, theft, water damage, etc. Assurant is Laramar’s preferred insurance vendor and assists our residents in obtaining adequate coverage. Utilizing Assurant’s easy online signup system, residents can obtain quality insurance with low monthly premium payments.

THE LARAMAR GROUP

RISK/SAFETY MANAGER

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. S U S T A I N A B I L I T Y S T A N D A R D S + P U R C H A S ING GUIDELINES

This initiative 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, and the purchase of products, materials and equipment during the re t rof i t or re novat i on p roce ss. TABLET LEASING

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 time availability and close a deal at any point on a tour right from their iPad. USGBC - LEED (LEADERSHIP IN ENERGY AND ENVIRONMENTAL DESIGN)

Laramar is a member of the U.S. Green Building Council. In 2010, we achieved a LEED silver cer tification at a large San Francisco Proper ty. In 2014, Laramar received LEED Cer tification for a multifamily high-rise building in Chicago. Laramar maintains a leadership role on USGBC’s Multif amily Re sid e ntial Ste e ring C ommitte e .

REAL ESTATE SERVICES

HIRING PRACTICES TRAINING PROGRAMS Laramar uses a wide range of resources to attract a diverse group of top talent. This includes social media and online job boards, as well as ne wspapers, job fairs, community involvement, local networking groups, employee referrals and local apar tment associations. Laramar has experience working with unions and we recr uit and hire per the individual union contracts. We invest in the best talent in the industr y. To attract and retain this talent, fur ther education classes, seminars or conferences of the Regional Marketing Managers are charged to the Marketing Depar tment as a corporate expense. Any vendor based training thro ugh local multi-housing associations is charged to the proper ty, if applicable.

HUMAN RESOURCES STAFF & RETENTION PROGRAM

Laramar’s Human Resources (HR) and Payroll team is based out of our Denver Corporate office. The HR and Payroll team provide a single, full-ser vice solution to our employees throughout their tenure with Laramar. Our exper tise and customer ser vice allows for quick responses to our employees when they seek assistance with benefits, payroll, and conflict resolution. The HR and Payroll team are attuned to the needs and wants of our workforce. They provide Senior Leadership with recommendations to remain an “Employer of Choice”. They are nimble, flexible, and shift priorities to align with the operational needs of the organization.

Ne w employees are trained by our Yardi team through webinars and conference calls as well as by the Regional Marketing Manager assigned to the them.

Focuse s of th e te am includ e : • provide high-quality benefits at an affordable cost • maintain turnover percentage below industr y average • assist management to fill vacant positions and source qualified talent • provide guidance and mentor-ship to ne w managers

BENEFITS PACKAG E

RECRUITING

A competitive bene fits package assists in attracting the industr y’s top per formers by including Paid Time Off (“PTO”); 401k Savings Plan with matching; Medical/Vision/Prescription and Dental; Disability, Healthiest You Telehealth, FSA, Life/AD+D Insurance and other voluntar y benefits. These benefits help reduce turnover and resulting proper ty disr uptions and expenses. A confidential Employee Assistance program and gym reimbursement plans are additional incentives enjoyed by Laramar associates. The L aramar Wellness Program is designed to encourage employees and their dependents to become as healthy as possible. This is an investment in Laramar’s most valuable asset – their peopl e.

Laramar’s recr uiting effor t is dedicated to site level staffing and especially focuses on proper ty takeovers allowing for quick and smooth transitions. Our pre-employment screening process ensures the best possible candidates are hired which reduces future per formance issues and turnover. Laramar is an equal oppor tunity employer. L A R A M A R L E A R N I N G M A N A G E M E N T S Y S T EM

Laramar par tners with industr y-leading providers to deliver employees with a web-based, customizable learning plan. We select par tners known for their ability to provide a high-quality user experience, who utilize effective teaching methodologies, and ensure our employees are compliant with all industr y training requirements. The web-based courses include testing to verify comprehension of presented materials. Additionally, ever y Laramar associate has a personalized webpage within the system to track the progress of their professional education. Learning plans are role specific and all associates are required to complete Fair Housing, Dr ug-Free Workplace, and Sexual Harassment courses.

THE LARAMAR GROUP

REAL ESTATE SERVICES

We all play a role in preser ving the environment, for ourselves and for future generations. We have developed these sustainability standards and purchasing guidelines not only to provide each of us with the tools and resources we need to be successful, but to demonstrate our commitment to a better, more sustainable future. Laramar’s set of Standards and Purchasing Guidelines are used as a resource to improve the environmental per formance of each proper ty, reduce costs and drive NOI. These categories include: Regional Strength Rather than a one-size-fits-all approach, we manage sustainability in each region accordingly as they all present different challenges to be addressed (i.e. climate and city/state requirements). This ensures we find the best fit for each community in each market. Our nationwide vendor pool and strong relationships allow us to seek out sustainability solutions, across the countr y. Our Constr uction Management team consistently collaborates on sustainability as it relates to best practices from their own respective regions; crossover in markets helps keep continued focus on reaching technological efficiencies as well as project and program efficiencies to benefit our national por tfolio. Sustainabl e Infrastr ucture • Water Conser vation and Management • Lighting Systems • Durable Good s • Community Improvements and Renovations • HVAC and Energy Efficient Equipment

Ongoing Operations and Maintenance • Gre e n C le aning • Solid Waste Management and Recycling • Integrated Pest Management • Exterior L andscaping and Maintenance • Ongoing Consumables • Standard Operation Procedures and System Documentation • Ongoing Assessments of Energy and Water • Resident Engagement and Employee Par ticipation • Prog rams to Eng ag e Re sid e nts and Employees • Industr y Engagement, Education and Prof e ssional Cre d e ntials THE LARAMAR GROUP

PARK TERRACE - URBAN TOWER CASE STUDY (458 UNITS) : In 2018, with major renovations to Park Terrace in MN, the towerâ&#x20AC;&#x2122;s boilers were upgraded along with individual steam traps in 458 units, increasing efficiency to the units by nearly 65%. Each unit and common areas also received a full LED lighting replacement upgrade from 13 watt standard bulbs, saving on electrical consumption and adding a guaranteed lifespan 10 times greater than the original bulbs. Low flow aerators were installed saving up to 75% of water consumption compared to the standard aerator. Lastly, Park Terraceâ&#x20AC;&#x2122;s unit kitchens received energy star rated appliances that are 20% more efficient than standard models.

The Fillmore Center is a shining example of Laramar’s superior capabilities in sustainable practices. In November 2010, the Fillmore Center, a multifamily mixed-use proper ty with over one million square feet of usable space in San Francisco’s Fillmore District, received the Leadership in Energy and Environmental Design (LEED) Silver for Existing Buildings: Operations & Maintenance cer tification. Built in 1991, The Fillmore Center is comprised of 10 buildings, including 1114 apar tment units and 10,000 square feet of retail and office space. These buildings are home to 3,000 residents and 17 businesses. Laramar acquired the asset in 1998 and sold to Pr udential in 2004, retaining management through early 2018. During our 20 year experience with the Filmore Center, NOI was increased 400% (20% per year) . The Fillmore Center is the largest LEED Silver multifamily proper ty in the countr y in the Existing Buildings: Operations & Maintenance (EBOM) categor y; the third largest facility by square footage (all proper ty types included) on the West Coast with the EBOM rating; and, the 18th largest facility with silver and above cer tification in the U.S. for existing bu ildings.

In 1998, the company star ted its $46 million retrofit, which includ ed replacing all the mechanical systems and installing variable frequency drivers on the elevators, in addition to replacing roofs, windows and exterior coatings. Elastomeric building coatings—essentially r ubberized coatings—were put into place because many of the buildings’ seals and joints weren’t constr ucted properly originally. THE LARAMAR GROUP

REAL ESTATE SERVICES

THE LARAMAR GROUP