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June 11, 2020

New Property Added To Your Growth REIT Portfolio

We’re excited to announce that escrow officially closed on a new property in the DF Growth REIT. This property is now part of your portfolio.

Property Overview

Location: Fayetteville, North Carolina
Type: Cash-Flowing Multifamily
Units: 121 apartments
Construction Year: 2014
Purchase Price: Approx. $9,700,000
Target IRR: 16.3%

Investment Opportunity

McArthur Landing is located in a thriving rental market, close to Fort Bragg and Pope Air Force Base, two major military bases that employ roughly 65,000 personnel. It has a central location within a cluster of services and retail locations, making it an attractive option for local renters. A public library, elementary school and recreation center, university and shopping centers are all within short distance from the property.

Value-Add Strategy

The property is cash-flowing and will only require light renovations that will significantly enhance its profile. The property features 121 two- and three-bedroom condominium units rented as apartments.

We plan on implementing cosmetic and tech upgrades to units including:

✓Flooring updates
✓USB ports
✓New countertops and appliances
✓ Kitchen cabinet updates
✓ Miscellaneous repairs

Common amenities include a 24/7 Fitness Center, Clubhouse, Pool, Patio and Gated Entry System.

Planned renovations include:

✓Dog park enhancements
✓ Putting green conversion
✓ Fencing updates
✓ Landscaping
✓ Outdoor fire-pit and patio area improvements
✓ Roofing