Student_4-10-18

Student_4-10-18

E X C E E D I N G Y O U R E X P E C T A T I O N S PINNACLE CAMPUS LIVING

P I NNACL E CAMPUS L I V I NG

Student housing properties are management intensive and require a specialized approach that goes far beyond merely putting heads in beds. Students and their parents today are looking outside of the traditional housing model available at most higher education environments for a “home away from home” that nurtures successful learning. Pinnacle Campus Living takes a change-agent approach to satisfying student needs by offering fully furnished apartments, resident lifeprograms, great amenities andopen communication. We provide all the support residents need -- and their parents want -- so students can live their best college life. Our nurturing living-learning environments are closely tied to the university communities we serve. As an extension of on- campus life, Pinnacle Campus Living creates settings that will bolster academic excellence.

Our success is your success as students renew, refer and even return to our communities.

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P I NNACL E CAMPUS L I V I NG

OUR STORY The genesis of Pinnacle Campus Living came about naturally. Our clients expressed a growing desire to invest in the student housing market, and Pinnacle had the operating platform to support this niche service. We married our long-standing platform with one of the most well-respected, singularly- focused, student housing leaders in the industry to develop what we believe is a specialized management team with more depth, sophistication and knowledge than the student housing market has seen before. Today, our combined Pinnacle entities are recognized among the nation’s preferred third-party managers with a portfolio of approximately 172,000 residential units and 2.75 million square feet of commercial assets. Our team member base is strong with 4,300 professionals working on behalf of our owners and their properties in 30 states.

As our binding force, the Pinnacle culture is strict enough to drive performance yet diverse enough to allow our team members to feel good about the work they do in an environment that supports their personal growth. This is what creates the unparalleled energy our clients have come to rely on. We are bringing that much-needed energy, dedication and overall philosophy to student housing.

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P I NNACL E CAMPUS L I V I NG | THE P I NNACL E PH I LOSOPHY

C OR E VA L U E S

OUR MISSION It is our privilege to exercise responsible stewardship over the assets that we manage and positively maximize the interactions with our teammembers, customers and clients.

OUR VISION “To exceed our customers’ expectations”

Pinnacle has an established foundation of experience, resources and partnerships which we acquired over the course of our 37-year history. We leverage this foundation to provide clients with superior products and services that are customized to meet their unique needs. Our Core Values combined with our national support services enables Pinnacle Campus Living to immediately improve operations and increase the value of your investment.

CLICK FOR PINNACLE COMMUNITY SERVICE

PERFORMANCE We are measured on our ability to create value for our clients and shareholders

CREATIVITY We relentlessly pursue the delivery of innovative quality services

COMMUNITY Serving our residents, their parents and our university communities is at the heart of our team members’ priorities

SERVICE We put the interests of others ahead of our own

TRANSPARENCY Demonstrate honesty and integrity in everything that we do

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P I NNACL E CAMPUS L I V I NG | OUR STUDENT HOUS I NG EXPER I ENCE

MAP

PROPERTY

STATE

UNIVERSITY

1 CEV Tuscaloosa 2 Logan Square

AL The University of Alabama

AL Auburn University

3 Paseo Place

CA San Diego State University CA San Diego State University

With a student housing portfolio of more than 17,000 beds serving 35 university communities, Pinnacle Campus Living is sweeping the nation. Based in Dallas, Texas, this new brand is driven by student-focused operators who draw on Pinnacle’s robust service platform to deliver exceptional experiences for the residents, their parents and the university communities we are a part of. The Pinnacle Campus Living teams are experienced with both on- and off-campus housing, Public Private Partnerships (P-3), new developments, value-add communities and mixed- use product.

4 Sterling Alvarado

5 Brookside

CO CU Boulder

6 70 Howe Street 7 College and Crown 8 Hillcroft at Danbury

CT Yale University CT Yale University

CT N/A

9 Varsity

DC George Washington University FL Florida State University IL Joliet Junior College KY Western Kentucky University KY Murray State University KY Murray State University LA Louisiana Tech University / Grambling State University MD University of Maryland MN University of Minnesota MO University Central Missouri

10 Tenn Street

11 Centennial Commons 12 CEV Bowling Green

13 CEV Murray

14 CEV Murray South

15 CEV Ruston

34

35

16 Terrapin Row 17 Marcy Park

17

22

6

18 CEV Warrensburg 19 CEV Greensboro 20 CEV Greensboro II 21 CEV Wilmington

7

NC North Carolina A&T State University NC North Carolina A&T State University NC University of North Carolina Wilmington

8

11

16

36

9

5

18

22 The Marshall

NY Syracuse University

14 12 13

19

20

23 CEV Weatherford

OK Southwestern Oklahoma State University

28

43

21

2425

26

23

24 CEV Clemson

SC Clemson University SC Clemson University

29

27

25 CEV Clemson West

1

2

26 CEV Upstate

SC University of South Carolina Upstate

15

27 In Development

SC University of South Carolina TN University of Tennessee TX West Texas A&M University

10

32

31 30

33

28 Commons on Knox/Bridge

29 CEV Canyon

30 Cottages at Hillside Ranch

TX Texas State University TX Texas State University TX Texas Tech University TX Texas State University

31 Hillside Ranch 32 Stadium View

33 Treehouse 34 Statesider

WI WI

University of Wisconsin University of Wisconsin

35 Towers on State 36 CEV Morgantown

WV West Virginia University

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P I NNACL E CAMPUS L I V I NG | OUR STUDENT HOUS I NG MODE L

A vast majority of students are far more interested in off-campus housing -- about 75 percent of them live independently in proximity to their campus. When these college-bound students leave home for the first time, they are as excited about the social experience as they are their education. They want to live in their own community where they can build relationships, manage their own lifestyle and enjoy better accommodations. The desired housingmodel today ismore along the lines ofwhat youmight find in the hospitality industry as students are looking for tech-friendly communities with private bedrooms and their own bathrooms, fitness centers, BBQ area, pools, high-speed Internet and Wi-Fi. And while the college-aged population is more digitally savvy and connected than ever, they crave resident life activities to have a sense of place and to feel part of a “community.”

Pinnacle Campus Living provides a sophisticated and operationally intense niche management service that caters to the needs of this target demographic.

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P I NNACL E CAMPUS L I V I NG | OUR L EADERSH I P TEAM

Student housing is our business. From our executive leaders to our onsite teams, we will be dually focused on student satisfaction and property performance. Our leaders are very approachable and believe in the power of coaching to keep everyone operating at the same level.

RICK GRAF CPM C H I E F E X E C U T I V E O F F I C E R

ANDREW STARK P R E S I D E N T

TED BROADFOOT E X E C U T I V E V I C E P R E S I D E N T

NATHANIEL FOWLER E X E C U T I V E V I C E P R E S I D E N T

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P I NNACL E CAMPUS L I V I NG | OUR OPERAT I NG PLATFORM

Investors currently encounter an extremely fragmented approach to what is truly a sophisticated management intensive asset class, student housing. Pinnacle Campus Living is a singular resource that focuses intently and singularly on student housing and elevates it as much more than a place to live; it is a community and one of the critical cornerstones in fostering a successful college experience. Our properties shape how students study, interact with friends, cook, eat, exercise, play and learn to live away from home, often for the first time. Some of the greater service offerings available through Pinnacle Campus Living’s platform include: • Operations • Marketing • Financial Services • Development & Construction • Human Resources • InformationTechnology • Sustainability CLIENT SUPPORT TEAMS TRAINING

HUMAN RESOURCES

OPERATIONS

INFORMATION TECHNOLOGY

DEVELOPMENT & CONSTRUCTION

PROCUREMENT

FINANCIAL SERVICES

RISK MANAGEMENT

MARKETING

PROPERTY

REGIONAL PROPERTY MANAGER

ONSITE TEAM

PARENTS

RESIDENTS

UNIVERSITIES

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P I NNACL E CAMPUS L I V I NG | OPERAT I ONS

Daily operations are performed by onsite teams who maintain, manage and market the asset. These teams work in collaboration with regional and national support to keep the operational integrity of each property strong and to increase performance. Over the past 37 years, our company has developed strong processes and tools to build efficiencies at the site level: • Benchmarking andTrend Reporting • Marketing Velocity (Lease-Up) • Expense Control • Lease Renewal Tracking

While policies and processes are exceptionally important, we understand that our success is built on the foundation of our people. We employ rigorous processes and systems to ensure that we hire the right teams; but that is just the beginning. Our managers and trainers then equip every team member with the tools to be successful and to grow in our company and their careers. Education programs are tailored to each job role to strengthen preparedness, confidence and leadership, and ultimately add volumes to what we are able accomplish. Keeping residents pleased is also paramount. Maintenance professionals handle in-unit service requests 24-hours a day to keep things running smoothly and preserve the property through a comprehensive preventative maintenance program. This team works congruently with purchasing, risk managers, safety specialists, construction managers and other corporate personnel. Our comprehensive approach to maintenance allows Pinnacle Campus Living to exceed both customer and industry standards. Another added bonus for Pinnacle Campus Living clients is our preferred pricing program for contract services and maintenance supplies. Our experience in negotiating contracts, budgeting and implementing efficient cost control measures helps keep expenses to a minimum without sacrificing quality or service.

• Property Auditing • Market Analyses

• Property Repositioning • Sustainability Evaluation • Key Performance Indicators (KPIs) º º NOI Growth Ranking º º Controllable Expense Ranking º º Revenue Growth Ranking º º Regional Property Manager Ranking and Report Card

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P I NNACL E CAMPUS L I V I NG | MARKET I NG

Property logo / naming

Without the right messaging, even the most impressive student community is reduced to an example of unfulfilled potential and missed opportunity. Pinnacle Campus Living’s brand development team creates a strong brand identity that resonates with the target demographic. A multi-sensory approach for marketing is used to evoke emotion and leave a lasting impression on everyone. As such, common areas will be both resident and customer friendly to evoke the sense of sight. We will add signature scents throughout the community for appeal to the sense of smell. Leasing desks will host interesting objects to provide texture to the touch. Snacks will be available to taste and a customized playlist of music aligned with the student demographic will flow through the office and common areas to engage the sense of sound. To make sure we are on the right track, Pinnacle Campus Living will use surveys to evaluate resident’s needs and satisfaction levels and make proactive adjustments when needed. We will make them feel connected to their community and proud of belonging to something unique. Since the overwhelming majority of students begin their apartment searches online, a student housing community must have a strong online presence. Pinnacle Campus Living will provide a comprehensive digital marketing plan that includes everything from website development and search engine optimization to reputation management.

Outreach marketing

Preleasing for Fall 2014!

LIFE JUSTGOTBETTER! LIVEUPTOWN!

1550

Visit our new leasing center

FAHRENHEIT

306EdwardGaryDrive#A SanMarcos,TX78666

Looking for an easy lifestylewith the convenience of the perfect Las Vegas location? 1550 Fahrenheit is the destination for you! Walking distance to UNLV, shopping, restaurants, sportseventsandeverything youdesire foranactive social life. THE

RIGHT PLACE FOR YOU!

Residence

• TwoRefreshingPools • UniqueModernCurbAppeal • SpaciousCourtyards Community

• SpaciousOneand TwoBedrooms • CentralA/C • LargeClosetSpace • CeilingFans • WellEquippedKitchens • Two Toned InteriorWalls • VaultedCeilings inSelectHomes • Upgraded InteriorFixtures

WALK & SHUTTLE TOTEXAS STATE

• WalkingDistance toUNLV • On-SiteClothesCareCenter • CommunitySitsonEntireCityBlock • LargePetsWelcome*

[email protected] uptownsanmarcos.com 512-667-7436

*Restrictionsapply

702.731.5194 1550EastHarmonAve.• LasVegas,NV89119 [email protected]•1550Fahrenheit.com

HILLSIDE RANCH 1350 N LBJ DR, SAN MARCOS, TX 78666 (W): hillsideranchsm.com

NOW LEASING FOR FALL 2017! *Ask aboutourbrand-new cottages andnewly renovated apartments

Website and social media integration

APARTMENTFEATURES • Washer andDryer • GraniteCountertops • Furnished available • LargeClosets • CeilingFan • DiningRoom

COMMUNITYFEATURES

• DisabilityAccess • HighCeilings • Patio/Balcony • StainlessSteel appliances • WoodFloors

• New3,4and 5

• 3OutdoorKitchens • BBQGrillArea • Clubhouse • Computer lab • Study lounge • NewBarkPark • FullCourtBasketball

bedroomCottages

• FitnessCenter • FreeWiFi • PuttingGreen • 24-Hour Lounge • SparklingPool

(512) 393-3222

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P I NNACL E CAMPUS L I V I NG | F I NANC I AL SERV I CES

Clients are in very good hands with Pinnacle Campus Living’s team of accountants and internal audit experts. Through our centralized center in Orlando, Florida, clients receive detailed monthly financial packages that include a range of reports. On a quarterly and annual basis, we deliver a partnership level report for each asset as well as a rollup at the fund level. Our technology capabilities enable the electronic exchange of information between our managed properties, the accounting center and our clients. The accounting team also interfaces electronically with banking institutions. Our financial services are also supported by on-going software training and a help desk to aid onsite property management staff with accounting activities. In addition to providing all types of financial reporting, our professionals conduct random desk audits at the property level to correct deficiencies. When audits and reviews uncover irregularities, investigations are conducted to uncover discrepancies. Through vigilant processes, our internal audit team drives bottom-line value by eliminating operational waste, reducing cost and preventing loss.

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P I NNACL E CAMPUS L I V I NG | DEVE LOPMENT & CONSTRUCT I ON

Our team has completed multifamily projects in excess of $1 billion across the country and we are there when you need us. We can connect as early as the pre-development and pre-construction phases or we can partner on renovation projects at existing student properties. Depending on your need, Pinnacle Campus Living provides a full scope of interior and exterior construction services.

Our professionals can enhance the exterior of your property or improve the ambiance and marketability of your asset by reworking the interior. If renovations are the order, our team performs extensive due diligence to help control costs and schedule obstacles for the duration of the project. Working with ownership, we set timelines based on the scope and detail of the work. Pinnacle Campus Living can help set the direction or add new life to your student properties.

Representative Student Housing Construction Management Projects:

THE RENAISSANCE | 358 UNITS

R E NO VAT I ON

• ReceivedTorchlight approval to move forward with $2 million interior/exterior renovation plan. • Implemented an aggressive marketing outreach plan targeting not only Georgia Southern students, but East Georgia State College and OgeecheeTechnical College students as well. • Within three months after takeover physical occupancy increased by 20 percent and total income increased by $18,000. • Implemented rebranding strategy and reconnection with all local business owners and college personnel. • Within two weeks, Pinnacle hired all new staff consisting of six on-site employees and scheduled rapid turn vendors for upcoming leasing season.

HILLSIDE RANCH | 408 TO 513 BEDS

R E NO / L E A S E - U P

• From 2009 to 2011, Pinnacle increased income 9 percent and NOI 13.8 percent. • Property owner constructed an additional 105 beds in 2012.

• Pinnacle achieved 97 percent occupancy in 2012 while a portion of the property was still under construction. • Occupancy was 98 percent in 2013 and was 99 percent preleased for Fall 2014, targeting students at Texas State University in San Marcos, Texas.

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P I NNACL E CAMPUS L I V I NG | HUMAN RESOURCES

Pinnacle Campus Living thrives off the principals of quality people, strong customer service, solid market knowledge, quality systems and support capabilities. To draw the best talent, our Human Resources professionals offer highly competitive compensation and benefits packages. Then we build ream member skills and confidence through orientation programs, training, performance management and various other policies. In return, our talent base is filled with tenured members who add insurmountable value for our clients. • Corporate and property staffing, on-boarding, training and retention support • Pre-hiring assessments • Competitive health care coverage • Performance management • Payroll services • Benefits administration • Employment law, unemployment & workers’ comp

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P I NNACL E CAMPUS L I V I NG | I NFORMAT I ON TECHNOLOGY

Entrata by Property Solutions powers Pinnacle Campus Living’s technology infrastructure. This specialized and fully-integrated platform is built to accommodate the specific operational needs of student housing. Entrata genuinely speeds up everything from the time a student applies online until they move in. The system even allows our operators to post transactions to accounting ledgers, removing previously arduous steps from the process. Communications are also a breeze since Entrata sends work orders and renewal blasts with ease. With this hassle-free, all-encompassing system, students have a greater opportunity to remain focused on what matters most -- their studies. Entrata gives our in-house experts everything they need to be more efficient and boost your bottom line. It truly makes the difference at our properties.

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P I NNACL E CAMPUS L I V I NG | SUSTA I NAB I L I TY

Our sustainability experts are passionate about upholding eco-friendly practices. We are dedicated to conservation and the environment and our efforts take many forms, from recycling programs and electronic communications to the utilization of EnergyStar appliances in our student homes. Our goal is to maximize return on investments through property efficiencies and performance, while lowering our energy consumption and carbon footprint.

GREEN INITIATIVES • Utilizing available energy efficient product rebate programs • Implementing sustainable operating practices • Reducing consumption of materials and products • Participating in green events • Retrofitting to meet Lender credits/benefits • Managing LEED certified properties

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P I NNACL E CAMPUS L I V I NG | CONTACTS

NATIONAL CONTACTS Rick Graf Chief Executive Officer Ph. (214) 891-7846 [email protected]

Andrew Stark President Ph. (212) 257-4841 [email protected]

Woody Stone Executive Vice President Ph. (214) 891-7854 [email protected]

Nathaniel Fowler Executive Vice President Ph. (212) 257-4844 [email protected]

www.pinnaclecampusliving.com

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