Fully renovated Class B multifamily community located on the border of

Scottsdale and Tempe

MULTIFAMILY INVESTMENT OPPORTUNITY

611-Units

Scottsdale Gateway

i n v e s t m e n t o p p o rt u n i t y

property details

Price Unpricedterms sG i Loan Assumption Optional

*Please see back pageterms sG ii Loan Assumption Required

*Please see back pageaddress 2100 N Scottsdale Rd

Tempe, AZ 85281aPN # sG i sG ii

129-17-093A132-71-116J &132-71-116Q

OccuPaNcy 92.6%uNits 611Built sG i 1965 sG ii 1972tOtal sF 386,991BuildiNGs 84stOries 2lOt size 22.48 acres (27.18 du/ac) sG i 4.96 acres (25.00 du/ac) sG ii 17.52 acres (27.79 du/ac)ParkiNG 853 total

Scottsdale Gateway

i n v e s t m e n t o p p o rt u n i t y

scottsdale Gateway is a fully renovated class B multifamily property comprised of 611 contemporary garden-style apartment homes. superb south scottsdale/North tempe location, premium amenities, and attractive landscaping combine to make this an exceptional multifamily investment opportunity.

Community amenities

Business CenterFitness center2 Playgrounds4 Swimming poolsSpa and wading pool4 Laundry facilitiesBarbecue areas2 Dog park areasCovered parking

interior amenities

Washer/Dryer*MicrowaveFloor to ceiling mirrorsWalk-in closets*Balcony/PatioFaux wood flooring*Breakfast bar*Custom wood cabinetsNew countertopsUpdated bathrooms

*select units

investment HigHligHts

n scottsdale Gateway is aptly named for its strategic location between downtown (Old town) scottsdale, and the main campus of arizona state university, the country’s largest university (±2 miles south).

n Fully renovated between 2006 to 2009 at a cost of $19.6 million. some of the major upgrades include: custom wood cabinets in kitchen and bathrooms, karndean faux wood flooring, new fitness center, playgrounds with sun-shades, air-conditioning units, hot water heaters, resurfaced pools, and covered carports.

n located one mile north of the loop 202 freeway and two miles west of the loop 101 freeway, scottsdale Gateway has excellent drive-by exposure at the NWc of scottsdale and mckellips roads.

n ASU Skysong Technology Center (±1 mile north) is a mixed-use project that will consist of 1.2 million square feet of office, research, retail, multifamily, hotel and will employ 2,000 workers at build out.

unit mix / montHly rental rates July 2011 market rents

scOttsdale GateWay i Name uNits miX aVG sF NrsF reNt PsF tOtal

2 Bed/1 Bath The Manhattan–2A10 124 20% 837 103,788 $715 $0.85 $88,646

scOttsdale GateWay ii Name uNits miX aVG sF NrsF reNt PsF tOtal

Studio The Bay–EA10 56 9% 308 17,248 $524 $1.70 $29,354Studio The Paseo–EB10 77 13% 411 31,647 $584 $1.42 $44,9731 Bed/1 Bath The Bayonne–1A10 104 17% 458 47,632 $605 $1.32 $62,9561 Bed/1 Bath The Summit–1B10 80 13% 605 48,400 $648 $1.07 $51,8501 Bed/1 Bath The Astoria–1C10 24 4% 605 14,520 $635 $1.05 $15,2461 Bed/1 Bath + Den The Verranzano–1D10 64 10% 750 48,000 $773 $1.03 $49,4962 Bed/1 Bath The Brooklyn–2A10 28 5% 750 21,000 $790 $1.05 $22,1122 Bed/1.5 Bath/TH The Golden Gate–2A15 18 3% 1,220 21,960 $1,012 $0.83 $18,2222 Bed/2 Bath The Mackinac–2A20 36 6% 911 32,796 $899 $0.99 $32,374

487 582 283,203 $671 $1.15 $326,584

total/average 611 633 386,991 $680 $1.07 $415,230

inCome and expenses

iNcOme year 1 PrOFOrma

Gross Potential Rent $4,962,279 Vacancy loss 4.00% $(198,491)ConcessionsOther rent loss 1.00% (49,623)Net rental income $4,714,165 Other income $633 $386,587 Effective gross income $9,041 $5,524,210

eXPeNses Per uNit aNNual

Payroll $1,050 $641,550 Contract Services 214 130,658 Turnover Expense 110 67,507 Repairs & Maintenance 246 150,006 Marketing 113 69,183 Administrative 260 159,018 Controllable expense subtotal $(1,993) $(1,217,923)Utilities $942 $575,669 Management Fees (3%) 271 165,726 Insurance 160 97,760 Real Estate Taxes (2011 est) 296 180,982 Recurring Capital Expenditures 300 183,300 total expenses $(3,963) $(2,421,360)net operating income $5,078 $3,102,850

Pro Forma Operating Statementscottsdale Gateway i & ii combined

Jack HannumVice President602.386.1181jack.hannum@transwestern.net

For more inFormation

t 602.956.5000 F 602.956.5333www.transwestern.net

2415 East Camelback Road, Suite 900Phoenix, Arizona 85016

the information provided herein was obtained from sources believed reliable; however, transwestern makes no guarantees, warranties or representations as to the completeness or accuracy thereof. the presentation of this property is submitted subject to errors, omissions, change of price or conditions, prior sale or lease, or withdrawal without notice. copyright © 2011 transwestern. 11-1073.0711.

CAVE BUTTESRECREATION AREA

PROSPECTORPARK

USERY MOUNTAIN RECREATION AREA

REDMOUNTAIN

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DESERT WESTREGIONAL PARK

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THE MARKET ATESTRELLA FALLS

CAMELBACKCOLONNADE

ARIZONAMILLSMALL

TEMPE MARKETPLACE

MESARIVERVIEW

CHANDLERFASHIONCENTER

FIESTAMALL

SUPERSTITIONSPRINGS CENTER

SCOTTSDALEFASHION SQUARE

SCOTTSDALEPAVILIONS

DESERT RIDGEMARKETPLACE

CITYNORTH

PARADISEVALLEY MALL

ANTHEMMARKETPLACE

BILTMOREFASHION PARK

FACTORYSTORES

OF AMERICA

LAKEVIEW VILLAGESHOPPING CENTER

FOUNTAINHILLS

PLAZA

SANTA FE SQUARESHOPPING CENTER

MESA SHORESSHOPPING CENTER

OCOTILLOPLAZA

EAST VALLEYPLAZA AND

MALL

FIESTA PARKVILLAGE

MERCADO ATSCOTTSDALE

RANCH

SONORAVILLAGE

THE PROMENADEAT FRANK

LLOYD WRIGHT

THE PINNACLEOF SCOTTSDALE

THEBOULDERS

PARADISEVILLAGE

GATEWAY

AHWATUKEEPLAZA

CHANDLERFESTIVAL

BARTLETTRESERVOIR

LAKEPLEASANT

CANYONLAKE

APACHELAKE

THEODOREROOSEVELT

LAKE

SAGUARORESERVOIR

LUKEAIR FORCE

BASEGLENDALEMUNICIPAL

AIRPORT

CHANDLERMUNICIPAL

AIRPORT

PHOENIX MESAGATEWAY AIRPORT

FALCONFIELD

AIRPORT

SCOTTSDALEAIRPORT

PHOENIXDEER VALLEY

AIRPORT

PHOENIXSKY HARBOR

INT’L AIRPORT

PHOENIXGOODYEAR

AIRPORT

STELLARAIRPARK

BUCKEYEMUNICIPAL

AIRPORT

PEORIA

GLENDALE

SUN CITY WEST

SUNCITY

WADDELL

PHOENIX

LAVEEN

AVONDALE

BUCKEYE

PALOVERDE

CAVECREEK

CAREFREE

ANTHEM

PARADISEVALLEY

SCOTTSDALE

TEMPE

MESA

GILBERT

CHANDLER

HIGLEY

APACHEJUNCTION

SAN TANVALLEY

SUNLAKES

QUEENCREEK

NEWRIVER

FOUNTAINHILLS

3-MILE RADIU

S3-

MIL

E RADIUS

OLD TOWNSCOTTSDALE

SCOTTSdALE GATEwAY

Bret ZinnVice President602.386.1182bret.zinn@transwestern.net

Loan SummaryScottsdale Gateway is comprised of two separate legal entities with individual existing loans, which are summarized as follows:

sCottsdale gateway i–124 units sCottsdale gateway ii–487 units

leNder: Deutsche Bank Berkshire Mortgage, Inc. (Freddie Mac)

Wells Fargo Bank, National Association (Freddie Mac)

OriGiNatiON date: December 18, 2007 June 30, 2010First iNstallmeNt date: February 1, 2008 August 1, 2010maturity date: January 1, 2018 July 1, 2020OriGiNal lOaN BalaNce: $5,800,000 $16,800,000curreNt lOaN BalaNce (auGust 2011): $5,757,077 $16,531,886FiXed iNterest rate: 5.76% 5.02%curreNt lOaN cONstaNt: 7.06% 6.56%amOrtizatiON: 30 years. The first 36 months were interest-

only with 30-year amortization commencing on February 1, 2011.

30 years

mONthly PriNciPal & iNterest PaymeNt: $33,884.08 $90,931.49PrePaymeNt PeNalty: $1,254,652 N/APrePaymeNt methOd: Yield Maintenance – Calculated on the 4.75%

U.S. Treasury Security due August 15, 2007.Locked out to defeasance until 07/29/14

suPPlemeNtal FiNaNciNG: Allowable with lender approval Allowable with lender approvalassiGNed tO remic trust: No Yes