• The Property (2014) is a ~220-Unit apartment community located in a southwestern suburb of Columbus, Ohio.
• At closing the Property was ~96% occupied and achieved market rate rents on new leases leading up to closing. The opportunity exists to continue to bring rents to market, as well as implement new income streams to align with the market.
• The Columbus MSA ranks among the top Midwest MSA's in terms of population and job growth, while remaining one of the most affordable cities in the nation.
• The Property is ~13 min drive to downtown Columbus and all it's urban amenities. It's also minutes away from large employment 'centers' => several industrial parks, logistics and manufacturing facilities, airports, hospitals, schools, retail, dining and recreational activities.

*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 EXAM- PLES 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>