| Acquire below retail value, bulk pricing at a discount to $514K avg comp-supported value, de-risked by seller's Feb 2026 sales at $515K-$544K |
| Institutional scale, retail exit: one acquisition unlocks 49 retail disposition opportunities |
| 43-home core in a 1.2-mile radius, 2005 median vintage, 2,246 SF avg, all turnkey, representing 88% of portfolio aggregate value |
| 96% month-to-month tenancy, only 2 leased long-term, giving flexibility to reset rents or dispose |
| 46% rent upside, capital-free — $2,097 in-place vs. $3,058 market on the core; 53% ($634K) portfolio-wide |
| ~$117K average household income within one mile, 2.1% population growth since 2020 |
Andy Kaiser
Newmark
