The Lantern Apartments:Acquisition Date: Type of Investment: Purchase Price: Total Capitalization Unit Count Projected IRR June 2018 Value-Add $37.07 MM $43.80 MM 316 26.3% GalleryTerrain at Haywood (Greenville):Acquisition Date: Type of Investment: Purchase Price: Total Capitalization: Unit Count: Projected IRR: April 2018 Value-Add $4.45 MM $5.05 MM 96 23.0% GalleryNest Apartments (San Marcos):Acquisition Date: Type of Investment: Purchase Price: Unit Count: Projected IRR: October 2016 Value-Add $5.00 MM 104 24.2% GalleryNEXTLoft Apartments:Acquisition Date: Type of Investment: Purchase Price: Unit Count: Projected IRR: October 2016 Value-Add $5.00 MM 104 24.2% GalleryRare Apartments:Acquisition Date: Type of Investment: Purchase Price: Total Capitalization: Unit Count: Projected IRR: October 2016 Value-Add $15.00 MM $23.00 MM 204 15.1% GalleryThe Venue:Acquisition Date: Type of Investment: Purchase Price: Total Capitalization: Unit Count: Projected IRR: September 2016 Value-Add $14.90 MM $21.22 MM 95 18.7% GalleryThe Towers at Clear Lake:Acquisition Date: Type of Investment: Purchase Price: Unit Count: September 2016 Value-Add $16.75 MM 216 GalleryUrbana:Acquisition Date: Type of Investment: Purchase Price: Total Capitalization: Unit Count: June 2015 Value-Add $8.11 MM $10.75 MM 204 GalleryNest Apartments (San Antonio): Acquisition Date: Type of Investment: Purchase Price: Sale Price: Unit Count: Projected IRR: February 2015 Value-Add $4.00 MM $9.60 MM 149 39.6% GalleryCurve Apartments:Acquisition Date: Type of Investment: Purchase Price: Sale Price: Unit Count: September 2015 Value-Add $6.03 MM $10.60 MM 116 GalleryTerrain Apartments (Pittsburgh):Acquisition Date: Type of Investment: Purchase Price: Sale Price: Unit Count: Realized IRR: December 2015 Value-Add $6.25 MM $13.66 MM 152 41.7% Gallery