IMPACT INVESTING IN MULTI-FAMILY REAL ESTATE SOCIAL...

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[email protected] IMPACT INVESTING IN MULTI-FAMILY REAL ESTATE OpenPath is leading a movement to transform apartment complexes into thriving, healthy communities by making positive social and environmental impact just as important as financial returns. Our current apartment complex investments are valued at over $550 million, and we target 15% returns for our investors. We’re equally proud of the social and environmental returns our investments yield for our residents and their communities. OpenPath, with its impact program Urban Village TM , invests in the social capital and economic outlook of our residents through community engage- ment activities, leadership development opportunities, improved physical spaces, ecologically-responsible initiatives and shared consumption plat- forms that reduce the cost of living. Income Yield as an 7% preferred return Income Yield in the form of dividends 18% 15% 12% 9% 6% 3% 18% + 7.00% 10.37% 2.62% 3.67% Barclays Aggregate Bond Index SWPPX 500 Open Path Sources: Standard & Poor’s, Barclays Capital Comparative Income Returns, 2008-2017 Total Return Income Yield KEY FACTS FOR IMPACT INVESTING INVESTOR PROFILE: Private, Family Office, Self-Directed IRAs & Institutional investors; TERM: Usually 3-5 years (up to 10); GEOGRAPHY: Major & surrounding metro Western U.S.; TAX ADVANTAGE: Depreciation helps offset taxable income on distributions: Upon sale of assets, capital gains can be deferred via 1031 exchange into new investments; LIMITED PARTNER RETURN: 7% preferred annual return, plus 70% of capital gains (after return of original equity) up to 15% IRR; 50% thereafter; DEAL SIZE: $10- $50 million; FEES: 1.5% of acquisition value, $250/unit annual asset management fee of apartments under management; REPORTING: Operations data updated quarterly in investor web portal; SOCIAL CAPITAL in improved economic outlook and household income (anticipated 5 year impact) ECOLOGICAL STEWARDSHIP 466 tons of waste diverted from landfills. $4.2 MILLION 466 TONS LEADERSHIP/ EDUCATION 24 opportunities / year to develop leadership skills & participate in educational & social events. Each resident has at least

Transcript of IMPACT INVESTING IN MULTI-FAMILY REAL ESTATE SOCIAL...

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IMPACT INVESTING IN MULTI-FAMILY REAL ESTATE

OpenPath is leading a movement to transform apartment complexes into thriving, healthy communities by making positive social and environmental impact just as important as financial returns. Our current apartment complex investments are valued at over $550 million, and we target 15% returns for our investors. We’re equally proud of the social and environmental returns our investments yield for our residents and their communities.

OpenPath, with its impact program Urban VillageTM, invests in the social capital and economic outlook of our residents through community engage-ment activities, leadership development opportunities, improved physical spaces, ecologically-responsible initiatives and shared consumption plat-forms that reduce the cost of living.

Income Yield as an

7% preferred return

Income Yield in the

form of dividends

18%

15%

12%

9%

6%

3%

18% +

7.00%

10.37%

2.62%3.67%

Barclays AggregateBond Index

SWPPX 500Open PathSources: Standard & Poor’s, Barclays Capital

Comparative Income Returns, 2008-2017 Total Return Income Yield

KEY FACTS FOR IMPACT INVESTING

INVESTOR PROFILE: Private, Family Office, Self-Directed IRAs & Institutional investors;

TERM: Usually 3-5 years (up to 10);

GEOGRAPHY: Major & surrounding metro Western U.S.;

TAX ADVANTAGE: Depreciation helps offset taxable income on distributions: Upon sale of assets, capital gains can be deferred via 1031 exchange into new investments;

LIMITED PARTNER RETURN: 7% preferred annual return, plus 70% of capital gains (after return of original equity) up to 15% IRR; 50% thereafter;

DEAL SIZE: $10- $50 million;

FEES: 1.5% of acquisition value, $250/unit annual asset management fee of apartments under management;

REPORTING: Operations data updated quarterly in investor web portal;

SOCIAL CAPITAL

in improved economic outlook and household

income (anticipated 5 year impact)

ECOLOGICALSTEWARDSHIP

466 tons of waste diverted from landfills.

$4.2 MILLION

466 TONS

LEADERSHIP/EDUCATION

24 opportunities / yearto develop leadership skills& participate in educational

& social events.

Each resident has at least

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PERFORMANCE SINCE INCEPTION

OpenPath has been actively investing in multifamily acquisitions for more than a decade and has traded in and out of over 6,653 apartment units, with a total transaction value exceeding $718 million.

Market Units Acquisition Date Acquisition Price Projected Equity

MultiplierProjected

IRRTaylorsville, UT 80 2009 $8.0 M 1.48 15%

Plano, TX 548 2013 $70.0 M 1.67 15%

Las Vegas, NV 356 2015 $16.825 M 2.00 18%

Jackson Hole, WY 115 2016 $24.0 M 1.86 15%

Colorado Springs, CO 208 2016 $25.0 M 1.83 15%

Dallas, TX 373 2016 $30.0 M 1.84 15%

Salt Lake City, UT 93 2016 $8.0 M 1.74 15%

Mesa, AZ 98 2016 $9.5 M 1.88 15%

Las Vegas, NV 90 2016 $3.2 M 1.86 15%

Sacramento, CA 565 2017 $69.0 M 1.87 15%

Davis, CA 160 2017 $28.5 M 2.47 15%

Mesa, AZ 222 2017 $28.5 M 1.87 15%

Mesa, AZ 460 2017 $49.0 M 1.88 15%

Las Vegas, NV 360 2017 $28.345 M 1.88 15%

Fort Collins, CO 259 2017 $47.0 M 1.88 15%

Las Vegas, NV 304 2018 $31.0 M 1.88 15%

TOTAL UNITS: 4,291 $475.87 M 1.87 15%

CURRENT PORTFOLIO

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PERFORMANCE SINCE INCEPTION (CON’T)

Market Units Purchase Date Sales Price Equity Multiplier Investor IRR

Salt Lake City, UT 60 2006 $4.3 M 2.17 50%

Salt Lake City, UT 80 2007 $4.5 M 2.08 50%

Salt Lake City, UT 172 2008 $19.8 M 3.84 17%

Salt Lake City, UT 83 2008 $9.3 M 2.07 11%

Provo, UT 115 2009 $10.0 M 2.15 20%

Sandy, UT 104 2009 $8.0 M 1.75 17%

Phoenix, AZ 124 2011 $11.0 M 2.50 33%

Lewisville, TX 348 2012 $22.0 M 1.66 20%

Layton, UT 144 2013 $20.9 M 2.10 24%

Mesa, AZ 118 2014 $9.4 M 2.13 28%

Mesa, AZ 269 2014 $28.1 M 2.47 36%

Portland, OR 130 2014 $22.8 M 2.47 41%

Portland, OR 135 2014 $21.5 M 1.86 56%

Colorado Springs, CO 220 2015 $36.3 M 1.78 32%

Phoenix, AZ 160 2015 $14.425 M 2.12 42%

TOTAL UNITS: 2,262 $242.325 M 2.21 32%

PROPERTIES SOLD

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LONG-TERM VISION

OpenPath has proven that a traditional asset class, particularly one that serves millions of people, can be the best venue for true impact investing. We’ve merged our expertise as real estate investment managers with our passion for the individuals and families who make our properties their homes. Our strategy in the coming three years is to continue to generate above-market investment returns and measurable community impact by investing another $100 million (with leveraged asset value of $700 million) that will scale our vision to several new multi-family communities in major metro areas around the U.S.

IDEAL ACQUISITION PROFILE

My family trust has invested in 7 separate properties with OpenPath in 4 different markets. I’ve also introduced OpenPath to several additional investors, which is not something

I would consider unless I had absolute faith and trust in OpenPath’s integrity and ability to perform. But the real story here is OpenPath’s forward-thinking community program called Urban Village!

Not only is the Trust earning very favorable returns, but I get to feel really good about the social/environmental impact which my capital is making.

-George C., Trustee, C. Family Trust – Napa, CA

• Metro areas with high desirability index (supply-constrained markets)

• Opportunity to improve physical environment and amenities

• Under-performing property in terms of occupancy and rent levels

• Potential for a village-like community (>100 units)

• Residents interested in increased management responsiveness

• Pent up demand from residents for more social and/or community offerings

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INVESTMENT TEAM

PETER SLAUGH, MANAGING DIRECTOR Phone: (415) 454-8002

Peter Slaugh is the Founder and Managing Member of OpenPath Investments, formerly Su Casa Investments, LLC. After his initial career in residential real estate starting back in 1991, Slaugh moved into commercial real estate in the capital markets arena with GMAC CM in 1997 funding in excess of $1 billion in debt & equity products for his clients. Quickly, Slaugh recognized the value of investing in multi-family investments alongside his clients starting in 1999.

Slaugh pivoted from his career in capital markets in 2005 to acquire value-add apartment communities in the Western States. Slaugh has owned either as a GP or a limited partner over 6,600 units (dating back to 1999) in various markets throughout the Western U.S., and now owns and operates a portfolio of assets in AZ, CA, CO, NV, OR, TX, UT & WY comprised of over 4,200 units and growing.

Recognizing the value in a “whole property stewardship” approach to the business, Slaugh evolved his platform to include “community building” and “greening” of resident lifestyles through the Urban Village program. The OpenPath platform is the latest evolution of this approach and really embraces the notion that “doing good” is also “good for business” and now measures success not only economically, but also socially & environmentally.

GINO DANTE BORGES, PH.D., PARTNER & DIRECTOR OF IMPACT Phone: (775) 351-9439 Email: [email protected]

Gino Borges’ path has led him from a California dairy farm to earning a Ph. D. in Communications from Pur-due University, from Nevada desert quests to family ranch stewardship. And now from old school real estate investing to impact investing.

Borges speaks and teaches about impact investing, multi-family real estate, community, wealth and steward-ship. He has given talks at the Impact Hub SF, executive MBA programs, art salons, and recently at TEDx Uni-versity of Nevada.

When Borges is not impact investing, you can find him barefoot in his garden.Impact Investing: Making Money More | Gino Borges | TEDxUniversityofNevada

DAVID SCACCO, PARTNER Phone: (650) 804-1819 Email: [email protected]

David Scacco has 20+ years of experience as an operator, investor, and advisor. Scacco started his career in the field of advertising and marketing in his hometown of Chicago. Shortly after moving to the California Bay Area, Scacco joined Google in early 2000 and holds the distinction of serving as the company’s first advertising sales executive. During his 7 years at Google, Scacco established and led a strategic sales/business development team and contributed to the overall growth of the company. More recently Scacco has held sales leadership positions for a number of tech startups and serves as an angel investor and advisor.

Scacco shares OpenPath’s belief that the best businesses create significant benefits for all parties involved−in this case investors, residents and the environment. Scacco has personally invested with OpenPath since 2008.

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INVESTMENT TEAM (CON’T)

SARA MOSSMAN, URBAN VILLAGE PROGRAM DIRECTOR

Sara Mossman’s first home was a small, indigenous village in the South Pacific where she learned to live in strong kinship with her community and the surrounding ecology.

Mossman’s start in life naturally led her to a career in horticulture and ecological design, focusing on envi-ronmental sustainability. Over the past 15 years, she has educated audiences ranging from multi– national corporations to school children on the importance of adopting an eco–friendly lifestyle and she has created regenerative environments for individuals and businesses interested in maximizing potential and minimizing environmental impact.

As Program Director of the Urban Village program, Mossman provides aesthetic and lifestyle design concepts that support OpenPath’s triple bottom line investment strategy. On a daily basis, she thrives on getting to know apartment residents and supporting them with tools, inspiration, and ideas to enrich their community life−from establishing community gardens to skill–sharing and leadership development.

JAY ST. CLAIRE, DIRECTOR OF PROPERTY DEVELOPMENT

Jay St. Claire has extensive experience in property development, construction management, sustainability best practices and direct sourcing. St. Claire’s vision and creativity supports the OpenPath philosophy; he has been a career property developer and product innovator for over 20 years. His diverse skills and experience include: managing quality control; developing and managing budgets; designing and developing luxury brand retail stores; designing products and providing direct sourcing for high end retailers; developing and designing res-idential property; and managing all aspects of large construction development programs.

DESIREE STORCH, CHIEF FINANCIAL OFFICER

Desiree Storch has long held a personal commitment to create a world where people live together in dignity, respect, understanding, and trust. Her vision aligns well with OpenPath’s philosophy, and she has almost three decades of administrative, operations, and accounting experience from a broad range of industries including: construction and engineering, real estate, property management, financial services, banking, and non-profits. As Chief Financial Officer, Storch oversees internal accounting, project management and investor interface, and she maintains the best practices for the firm's business systems.

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2,001ACTIVITIES & ENGAGEMENTS INCLUDING

EVENTS FOCUSED ON

SOCIALCAPITAL

ECOLOGICALSTEWARDSHIP

LEADERSHIP/EDUCATION

URBAN VILLAGE IMPACT: SOCIAL CAPITAL, LEADERSHIP/EDUCATION & ECOLOGICAL STEWARDSHIP

The Urban Village program is based on the simple idea that, we, as human beings, operate stronger as a collective community than as individuals.

Urban Village seeks to strengthen the social and economic safety net, establish a higher standard of living, provide easier access to education and mentorship, cultivate ecological stewardship, deepen personal empowerment and competence, offer community leadership opportunities, and lessen the stress that arises from relocating. The goal of the Urban Village program is to transform ordinary apartment spaces into thriving communities−places where residents learn the benefits of supporting each other.

When community is achieved, the positive outcome for our residents translates into a broader impact for the cities and regions where they reside. These outcomes include an increased tax base, decreases in the need for social or police services, higher commercial viability for the local economy, increased resiliency against economic downturns, enhanced neighborhood vitality, and social cohesion.

SOCIALCAPITAL

LEADERSHIP/EDUCATION

ECOLOGICALSTEWARDSHIP

URBAN VILLAGE: THREE PILLARS OF IMPACT

URBAN VILLAGE INVESTMENTS

Outcome: Increased financial investment in building community produces ecologically sound & sustainable interior/exterior improvements that support residents’ well-being, while offering the material resources & creative opportunities necessary to encourage resident participation & engagement.

URBAN VILLAGE ACTIVITY

Outcome: Residents can participate in a wide range of opportunities; they can conceive & lead programs based on the inherent needs/offerings in their community. These opportunities create increased social connectivity while leveraging community assets.

$2,421,830INVESTMENTS

CAPITALIMPROVEMENTS

PROGRAMS INITIATIVES

IN SOCIAL & ECOLOGICAL

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CREATE SPACEWe start by designating a physical space (an empty room large enough for a small circle of people) to the UV program. From there, we add design elements to make the space inviting.

TRAIN FACILITATORSUV program directors and community ambassadors begin to facilitate gatherings and encourage resident-initiated activities. The “seed” of the program is planted.

NOURISH GROWTHWe step back and allow the program to grow organically; we provide community support as needed. A variety of benefits emerge: resident-led classes, social events, children’s activities, skill-sharing, and volunteer opportunities.

1 2 3

We weren’t designed as a species to take completely solo journeys. We are inherently stronger as a group, as a collective, than we are as individuals.

-Peter Slaugh, the founder of OpenPath Investments

“”

URBAN VILLAGE APPROACH

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URBAN VILLAGE PROGRAMS SUPPORT SOCIAL CAPITAL

REINHABITING THE COMMONS: By redeveloping common spaces, Urban Village creates thriv-ing communities. Successful community centers provide beautiful, accessible, and functional shared space to encourage group activities, spontaneous interaction, and creative collaboration. Incorporating residents’ ideas ensures success and a sense of belonging. Features include: an information board, resident artwork, and photos; uplifting, eco-friendly color schemes & decor; a kitchen with cooking/cleaning supplies; storage for shared inventory; music and access to wifi; recycling & filtered water; and a library of books & movies.

RESIDENT COUNCIL: Membership is open to all residents who are interested in community-building. The resident council meets monthly to propose ideas for projects or events that benefit the community and to decide how to allocate a monthly community fund for approved projects.

RESIDENT NETWORKING CENTER: Urban Village designs and organizes an on-site kiosk which resident leaders oversee. The “hub” allows exchanging pertinent community information includ-ing announcements of needed items and shared resources.

SOCIAL CAPITAL Recognizing that people comprise the heart of a dwelling and that they have innate needs for community, Urban Village enables residents to connect in common spaces and to collaborate on events and projects that create social cohesion. People choose such dwellings and want to remain there.

“”

We are stirring up really good vibes here and have some pretty amazing people who look forward to making this community thrive and have fun while doing it. You should see it! We hang outside almost every day, cook for each other, share clothes, and gift furniture to new neighbors. Melinda, one of my

neighbors, baked me a birthday cake, and I shared it with 12 other residents and friends. Every day we are becoming more of a community. I love it here!

-Joy [Resident, Waterstone, Mesa, AZ]

$4.2 MILLION in improved economic outlook and household income (anticipated 5-year impact)

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SOCIAL CAPITAL STATS & OUTCOME

OutcomeStronger friendships and collaboration,

greater feeling of trust and safety. Combines community resources

and enhances social, cultural, and economic outcomes.

Social Capital Connections

28,020 SOCIALCONNECTORS

$4.2M IN IMPROVED ECONOMIC OUTLOOK

OutcomeResidents enjoy group decision-

making, troubleshooting & innovating, leading to satisfaction, learning,

and personal growth.

2,656 TEAMWORKOPPORTUNITIES

Social Adaptation & Innovation

OutcomeIncreased access to functionality of

livable, beautiful, non-toxic gathering places for creative collaboration, group

activities, play, and work.

8 COMMUNITY CLUBHOUSES

CREATED

Create Thriving Community Centers

Outcome Increased understanding of

community; reinforced positive identity & recognition; higher level of satisfaction emerging from working

with a close-knit group.

63 COMMUNITY GROUPS

Social Cooperatives

Outcome Increased spontaneous interaction & connection in physical spaces,

insuring the community coalesces.

40 HUBS CREATED

CommunityHubs

Enhanced social & economic outlook through increased camaraderie, trust,

strong networks, and the exchange of community resources.

SOCIAL & ECONOMIC OUTLOOK

HIGHERTRUST

INCREASEDCAMARADERIE

STRONGERNETWORK

COMMUNITYRESOURCES

OutcomeGreater financial sustainability in the short term and improved long-term

economic prospects.

Reduce LivingExpenses

$53,698 REDUCTION

RENT

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URBAN VILLAGE PROGRAMS SUPPORT LEADERSHIP / EDUCATION

LEADERSHIP TRAINING / MENTORING: We provide mentoring and training for everyone in-volved on-site. Managers and resident ambassadors receive strategic training in a series of meet-ings which introduce the concept and potential of an Urban Village and the most effective ways of communicating and encouraging new residents to get involved. Urban Village produced a 40+ page leadership handbook available to all stakeholders, which includes supportive materials, sys-tems, and resources for community organizing.

SAFETY DEMONSTRATIONS: Urban Village invites local police and fire departments to provide educational seminars for community residents in our clubhouse. These seminars include fire safety and crime prevention. (BVE, VEP, PKV)

POSITIVE MENTAL FITNESS: In an effort to support aging and/or ailing residents at an Urban Village community, renowned motivational speaker and coach Nikkos Zorbas delivers a wellness workshop for residents aimed at creating a positive mindset as the basis for overall health. (TNP)

LEADERSHIP / EDUCATION Because resilient communities are based on a collective and diverse culture of participation and resource-sharing, Urban Village encourag-es residents to be community leaders. They plan meetings, organize purposeful activities, engage in teamwork, and share skills with one another to create a strong support system and a sense of personal empowerment.

I have met people and made friendships that I pray will last for quite some time. I have also been blessed with the opportunity to share my talents with the residents and garner new business

opportunities by networking with some awesome people. I have enjoyed teaching arts and crafts to the eager kiddos and parents that come to those events and love the enthusiasm that they have for learning something new. This experience as a whole has been one that I will never forget, and

I am so glad that my family−my husband and daughters−have all been a part of it with me.

- Maria Burke [Resident, Bella Vida Estates, Plano, TX]

Each resident has at least 24 OPPORTUNITIES / YEAR to develop leadership skills & participate in educational & social events.

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LEADERSHIP / EDUCATION STATS & OUTCOME

PAINT THE VILLAGE: Urban Village chose local, professional mural artists to add beauty and vi-brancy to one of our communities through a participatory art project open to residents of all ages. Before the mural painting day, residents were invited to meet the artists and share input on what imagery they wanted to include in the paintings. We selected three acclaimed local artists who had experience mentoring children through art. (PKV)

CULTURAL COALITION: One Urban Village community has a large Latino resident base and plen-ty of youth residents with creative interests. A local non-profit Cultural Coalition offered a weekly arts & literacy program for children on-site. (PKV)

OutcomeAccelerated leadership potential

& community impact as a result of training & encouragement by

a professional mentor.

63 SITE VISITS

On-site Mentoring

URBAN VILLAGE PROGRAMS SUPPORT LEADERSHIP / EDUCATION (CON’T)

OutcomeMore residents consider themselves

confident leaders. Stronger communities result from support

by leaders.

127 RESIDENTLEADERS

Community Leadership

OutcomeStronger sensitivity, and

understanding of cultural differences.

7 MULTICULTURAL EVENTS

Diversity

Outcome Increase in number of residents

participating in creating, thriving communities. More ideas are heard

& instituted to benefit the community.

247 RESIDENT COUNCIL SESSIONS

Community Planning

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Greater knowledge, confidence & personal development through increased access to free classes, leadership

opportunities & group decision-making.

LEADERSHIP / EDUCATION STATS & OUTCOME (CON’T)

Outcome Residents have more opportunities for

friendships, learning, entertainment & enrichment. Resident children are

engaged with neighbors in peer groups & across generations. Residents expe-rience higher reading levels, greater nutrition & more trust in community.

681 SOCIALEVENTS

Social Gathering

• GREATER KNOWLEDGE• CONFIDENCE• PERSONAL DEVELOPMENT

GROUPDECISION-MAKING

FREE CLASSES

LEADERSHIPOPPORTUNITIES

OutcomeIncreased access to shared skills

and knowledge about practical and personal development.

235 EDUCATIONALEVENTS

Educational Activities Community Charity

OutcomeThe whole community collects

donations such as food & blankets for charitable causes. The Urban Village community benefits the

community at large.

11 CHARITABLEEVENTS

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URBAN VILLAGE PROGRAMS SUPPORT ECOLOGICAL STEWARDSHIP

Green Village Assessment: With the goal of developing environmentally sustainable, socially resilient communities, this program analyzes each Urban Village property through the lens of ap-proximately 150 eco-initiatives across categories such as: energy & water usage, waste reduction, landscaping and non-toxic living. While assessing each new community through on-site visits, as well as staff and resident interviews, recommended actions and best practices emerge to reduce negative impact on the surrounding ecology and environment.

Community Garden: The Community Garden program brings residents of all ages together to learn from each other about growing food. Taking part in the community garden means being responsible for one’s own “garden plot” (free of charge) for the growing season or working as a team with other residents to grow a shared plot. Gardening directly benefits residents’ health and finances. Residents participate in events such as planting workshops or harvest picnics offered by Urban Village. One resident gardener assumes a leadership position of “Garden Organizer.” The community garden program emphasizes edible and beneficial landscape plants that support annu-al vegetable production. (LPA, HCV, SSC, CHY)

Fall for the Earth: This three-month awareness campaign uses email and Facebook to promote relevant facts and actions that community members can take during “Sustainable September,” “Organic October,” or “No Waste November.” We invite residents to share how they took action by submitting a story or photo.

ECOLOGICAL STEWARDSHIP We focus on wise and regenerative choices to ensure that the community will thrive. We emphasize individual well-being and theholistic balance of all life.

“”

There’s something incredibly satisfying about watching something grow under your care, then being able to create wonderful, fresh and healthy meals. It was also fun to watch our fellow

gardeners grow their own produce and to see how different our gardens all were. The experi-ence definitely gave me a love for growing, and I look forward to practicing that skill through

future years and becoming better and better at it.

- Jewely Parris [Resident, Hidden Cove, Layton, UT]

466 TONS OF WASTEdiverted from our landfills through increased awareness

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America Recycles Day: The national not-for-profit organization “Keep America Beautiful” pro-motes America Recycles Day on November 15th every year. Urban Village hosts community events designed to educate residents on how and what to recycle, and encourages residents to pledge to recycle more. (BVE, HCV, LPT, BRE)

BikeShare: This program supports resident health by encouraging them to bike. Bikes and helmets are stored securely, and residents can check out equipment by visiting our leasing office. Mainte-nance staff helps ensure that all bikes are kept in good shape and ready for use. (WTS, CHY)

Edible Commons: The Edible Commons program expands on the community garden concept. Residents plant produce that is harvested annually, and the garden beds serve as a gathering space where the landscape features edible and perennial plants. We included suitable fruit trees in key locations to provide shade. A vertical trellis supports grapevines and shades a sun-exposed building. Native edible species contribute to soil & habitat health while providing forage. We hired a local permaculture expert to mentor resident gardeners and teach workshops. We added a new picnic area, and the next phases includes a food prep station. (WTS)

Desert Tortoise: When residents of one Urban Village expressed interest in taking part in a wildlife adoption program for the captive desert tortoises in their area, we partnered with a local non-prof-it, The Tortoise Group. They provided a tortoise who needed a home. The Tortoise Group advised us about the habitat requirements and coordinated with the Eagle Scouts for volunteers who installed the enclosure and burrow using donated materials. The finishing touches on the habitat included desert-friendly plants to create a beautiful native desert habitat. (TNP)

ECOLOGICAL STEWARDSHIP STATS & OUTCOME

URBAN VILLAGE PROGRAMS SUPPORT ECOLOGICAL STEWARDSHIP (CON’T)

OutcomePromotes environmental stewardship at all levels. Includes research, preference for purchasing environmentally-friendly

products & materials, and minimizes exposure to toxins.

3,179 RESIDENTS45 ON-SITE STAFFEDUCATED IN GREEN PROGRAMS

Green Education

OutcomeResidents learn how to grow & harvest food from farm to table. Residents feel invested in the property. Residents save

money. Residents are healthier.

72 RESIDENT GARDENERS

1,209 SQ/FT ORGANIC GARDEN BEDS

Community Gardens

OutcomeIncreased water efficiency by phasing in low-flow faucets, toilets & shower

heads when units turn over or need repair.

21,013,290 GALLONSOF WATER SAVED

$40,845 SAVED

Water

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ECOLOGICAL STEWARDSHIP STATS & OUTCOME (CON’T)

Outcome Increased energy conservation

by choosing maximum efficiency when replacing the lighting, appliances

& fixtures.

708,502 WATTS $390,506 SAVED

Energy

Outcome Improved indoor air quality by

using environmentally sound paints that minimize exposure to harmful

volatile chemicals on-site.

1,461 UNITS TRANSFORMED INTO HEALTHY

INDOOR SPACES

Non-Toxic Indoor Spaces

Outcome Residents learn why and how to save resources. They trade items and save

money. Environmental benefits of increased awareness include recycling,

reuse, & other positive outcomes.

87 ECOLOGICALEVENTS

Eco-Awareness

OutcomeRecycling decreases

water and energy usage.

466 TONS OF RECYCLABLE WASTE DIVERTED FROM

LANDFILLS

Trash Divertedfrom Landfill

Outcome Greater opportunities for residents to recycle waste; reduced material

going to landfills.

8,635 RESIDENTSWITH ACCESS TO READILY AVAILABLE RECYCLING & RECYLING EDUCATION

New On-siteRecycling Programs

Improved personal & planetary health through

eco-literacy, environmental responsibility, and decreased

ecological footprint of the property.

PERSONALHEALTH

PERSONALHEALTH

PLANETARYHEALTH

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LEADERSHIP/EDUCATION

SOCIALCAPITAL

ECOLOGICALSTEWARDSHIP

ARTS & CRAFTS

RESIDENTCOUNCIL MEETING

THANKSGIVINGDONATION DRIVE

PAINTING

YOGA

YARD SALE

WILDFLOWERPLANTING

CINCO DE MAYO

PHOTOGRAPHYCLASS

GARDEN CLUB MEETING

KIDS’ DAY CAMPCOMMUNITY HIKE &EARTH DAY CLEAN UP

EFFECTIVE JOBHUNTING TECHNIQUES

BOOK CLUB

COMMUNITYEVENTS &ACTIVITIES

POTLUCK

BBQ

FAMILY GAME& POKER NIGHT

TACO NIGHT

WAFFLEBAR

MURAL ARTISTMEET & GREET

BACK TO SCHOOL

MIXER

BB O O K C L U

RECYCLECONTEST

CHILICOOK-OFF

BIBLESTUDY

BINGONIGHT

NATURALCLEANING CLASS

POETRYNIGHT

BIKE PARADE GARDEN SALADLUNCHEON

PERSONALSAFETY

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Barrington Regent (BRE)Phoenix, AZ2012 - 2016 • 124 Units

Park Village (PKV)Mesa, AZ2014 - Present • 118 Units

Ventana Palms (VEP)Phoenix, AZ2015 - Present • 160 Units

Stark Street (SSC)Portland, OR2014 - Present • 130 Units

Lake Tonapah (TNP)Las Vegas, NV2015 - Present • 356 Units

Somerset Commons (SCM)Las Vegas, NV2017 - Present • 360 Units

Sunrise Senior Village (SSV)Las Vegas, NV2017 - Present • 90 Units

Hidden Cove (HCV) Layton, UT2013 - Present • 114 Units

Lookout Pointe (LPT)Provo, UT2012 - 2017 • 115 Units

Parkway Commons (PAR)Salt Lake City, UT2017 - Present • 93 Units

Bella Veda (BVE)Plano, TX2013 - Present • 548 Units

Reflections at Highland (RFH)Dallas, TX2016 - Present • 373 Units

Cheyenne Crossing (CHY) Colorado Springs, CO2015 - Present • 220 Units

Cheyenne Crest (CHE)Colorado Springs, CO2016 - Present • 208 Units

Arbors @ Sweetgrass (ARS)Fort Collins, CO2017 - Present • 259 Units

Aspen Meadows (AMA) Jackson Hole, WY2016 - Present • 115 Units

Mace Ranch (AMR) Davis, CA2017 - Present • 160 Units

The 1100 (T11)Sacramento, CA2017 - Present • 565 Units

Waterstone (WTS)Mesa, AZ2014 - Present • 269 Units

Dana Park (DAN)Mesa, AZ2017 - Present • 222 Units

Indian Springs (ISP)Mesa, AZ2017 - Present • 460 Units

OUR URBAN VILLAGE COMMUNITIES

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Date: August 2012 - December 2017The Impact Report cites cumulative numbers unless noted otherwise.

OpenPathIMPACTREPORT-2018-

MonthlyReport

Sustainable Interior &Exterior Improvements

GreenPurchasing Data

UV Director & Director of Impact

ENVIRONMENTAL DATAAug. 2012 - Dec. 2017

SOCIAL DATAAug. 2012 - Dec. 2017

OpenPath Investments collects two types of data from Urban Village communities: social & environmental.

Social data and some environmental data comes from monthly reports that each Urban Village community, via the Resident Council, submits to the Urban Village Director. Environmental data, especially as it relates to interior and exterior improvements, comes from OpenPath’s Property Development Director who submits the reports to OpenPath’s Director of Impact and the Urban Village Director.

OpenPath’s Director of Impact & the Urban Village Director collect/tabulate the social & environmental data throughout the year, organize it into meaningful metrics, and update/amend the Impact Report annually.

IMPACT REPORT METHOD