Sustainability through the economic cycles.

• Our dynamic rental pricing model allows for revenue increases in varied economic climates
• Transitioning utilities to residents has nearly eliminated investors' exposure to heat and electric costs
• Negotiating annual fixed price contracts with maintenance providers makes our monthly expenditures predictable

Different operational dynamic, same approach to revenue.

• Attractive entry points and readily fixable deficiencies
• Strong market position through concurrent purchase within the same town
• Capital improvements and operational grit offer opportunity to quickly grow sales

Persistent supply and demand imbalance.

• Demand for housing continues to outstrip supply
• The 70MM+ strong millennial generation has emerged from the depths of the Great Recession ready to live on its own
• At the same time, the supply of new housing units slowed to a trickle during the recession and has not recovered

Possitive attributes of Direct Real Estate as an asset class.

• We measure risk and compare it to other asset classes to quantify the volatility of its return over time
• The superior risk/return trade-off of private real estate is the foundation for our investment strategy
• Direct real estate is a more tax efficient investment vehicle than comparable yielding assets thanks to its depreciation shield