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BH BRADLEY 2015            PROPERTIES PAGE 1


SUMMARY     PROJECT     PORTFOLIO

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Autumn Ridge Phoenix, AZ

Autumn Ridge is a 672 unit community located in Phoenix, Arizona, and the fund closed on the property in October, 2014. BH will partner on this investment with Domain Communities. The property is a stabilized value‑add Class B community with a strategic location in Northern Phoenix. The property was built in 1979 and boasts two‑story building designs, appealing floor plans and prolific community amenities. Autumn Park is located within minutes of major employers, including the rapidly expanding Deer Valley Airpark, the second largest area near Metro Phoenix, rich with employers. Previous owners have done major renovations to the exterior of this asset, on the common areas, pool, parking lots, balconies, and air conditioning on 50% of the units. The current occupancy of the community is 88%.


Barrington Mill Marietta, GA

The 752 unit Barrington Mill is located in Marietta, Georgia, just outside of Atlanta. BH will sponsor the investment with an affiliate of Highland Capital Management (“HCM”) based in Dallas. The community boasts an impressive site layout, complete with beautifully‑designed common areas featuring lush landscaping. It is located less than two miles north of the future 42,000 seat Atlanta Braves Stadium and 60 acre mixed‑use entertainment district – a project sure to be a game changer for the submarket. Several communities in the area have completed or are undergoing renovations, and Barrington Mill’s rents fall well below the competition – offering plenty of headroom for a substantial upside. The community was purchased in February, 2015. BH is planning to invest under per apartment, with an all‑in cost of per unit, well below the replacement cost and the Class A properties in the area. The current occupancy of the community is 96%.

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