• The Property is a 312-unit townhouse and apartment style community consisting of 297,605 sf located in West Ashley, within 10 minutes drive from Downtown Charleston.
• The current owner has focused on deferred maintenance and minor upgrades, leaving the Sponsor significant value-add opportunity to realize.
• Population growth in Charleston has been exceptionally high and is growing 3x faster than the US national average contributing to 5.3% annual job growth (at the time of closing).
• The property is a ~10min from the Charleston International Airport and is in close proximity to major employers that have recently opened up facilities in the region.

EXAMPLES OF PROPERTIES THROUGHOUT THIS PRESENTATION, INCLUDING THE ABOVE, ARE PROPERTIES IN WHICH ONLY A NON-CONTROLLING EQUITY INVESTMENT (TYPICALLY AS A LIMITED PARTNER) HAS BEEN MADE, AND ARE BEING PROVIDED FOR ILLUSTRATIVE PURPOSES ONLY IN ORDER TO PROVIDE EXAMPLES OF THE KINDS OF INVESTMENTS THAT HAVE RESULTED HISTORICALLY FORM THE INVESTING PROCESSES AND METHODOLOGY OF NPC. The properties selected in these examples do not represent all of the properties that have been or will be identified by NPC as likely investments of the Fund. No representation is made as to whether or if the examples represented above have been or will be profitable. There is no guarantee that the Fund will actually invest in any of these projects. It should not be assumed that NPC will seek, and that if it seeks it will be able, to identify similar investment opportunities for the Fund in the future or that any such future investment opportunities will be profitable. Past performance is not a guarantee of, and is not necessarily indicative of, future results. << /p>