Parc 88

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Jason Parr

Investment Advisors

Debt Advisors

Senior Managing Director 415 407 2106 jason.parr@berkadia.com

John Hansen

Director 415 342 5772 john.hansen@berkadia.com

Clay Akiwenzie

Managing Director 775 447 0595 clay.akiwenzie@berkadia.com

Sydney Ladrech

Senior Financial Analyst 916 677 6633 sydney.ladrech@berkadia.com

Scott MacDonald

Managing Director 415 310 0487 scott.macdonald@berkadia.com

Turnkey Investment with Immediate Yield

Silicon Valley Location Drives Growth

75% Discount to Homeownership in the Nation’s Best Place to Raise a Family

Exceptional Apartment Market Fundamentals

INVESTMENT HIGHLIGHTS

With over $2.2MM in capital improvements since Ownership’s acquisition in 2017, Parc 88 is a turnkey investment with fully-remodeled townhomes and a pristinely-maintained physical plant offered at a highly compelling initial yield. Having recently undergone a comprehensive renovation and presently leased at 98%, the Property is positioned to deliver an anticipated +6.5% cash-on-cash return Year 1, growing to ±8.5% by year 3.

Surrounded by the world’s highest concentration of industry-leading firms and innovative startups in Silicon Valley, Parc 88 residents have direct access to Fremont’s array of high-paying employers including Tesla, Meta, LAM Research, Boston Scientific, Seagate Technology, Synnex Corporation, and Western Digital, in addition to durable healthcare providers such as Washington Hospital, Kaiser Permanente, Stanford Healthcare, and Sutter Health. Fremont’s highly affluent demographic is projected to grow further with average household incomes climbing to ±$250k over the next five years as the Bay Area delivers the highest income upside of any metro in the nation.

Fremont’s multifamily pipeline is expected to deliver less than 600 units as the City adds ±4,500 new residents by 2028 – amplifying demand on the existing local supply of quality rental housing. With a limited construction pipeline, increasingly affluent demographics, and a cost-prohibitive single-family market, Parc 88 represents a minimal-risk investment and is positioned to benefit from +18% rent growth and +96% average occupancy forecasted through 2028.

Recognized by WalletHub as the nation’s best city to raise a family in each of the past two years and the happiest city in the U.S. five years running, Fremont’s average home sale price surpassed ±$1.8MM in February 2024 as demand to live in this desirable locale continues to increase – up 24% from February 2023 and commanding over $12k per month in typical ownership costs. Featuring two- and three-bedroom townhomes averaging over 1,000 square feet with upscale interior finishes, Parc 88 provides families with spacious modern residences and enrollment into Fremont’s top-rated public schools at a 75% discount to local homeownership.

The Opportunity

Berkadia is pleased to exclusively present the opportunity to acquire Parc 88 (or the “Property”) an 88-unit multifamily community located in the “Best Place to Raise a Family in the U.S.” and providing an anticipated +6.5% Year 1 cash-on-cash return. With more than $2.2MM in recently completed capital improvements, Parc 88 is a turnkey asset entirely comprised of two- and three- bedroom townhome units — uniquely positioning the Property to benefit from the submarket’s +18% rent growth projected by 2028. Parc 88 is surrounded by the world’s most innovative companies, top-rated public schools, and an increasingly affluent and growing population, making the Property a minimal-risk investment delivering an attractive in-place yield combined with a clear path to significant near-term income growth.

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PARC 88

LOCATION

The Tri-Valley, comprised of Dublin, Pleasanton, Livermore and San Ramon, is home to industry-leading and world-renowned employers. The area’s diverse employment base has major technology, healthcare, professional services, and scientific research footprints. The global headquarters of Chevron and Workday are located in the Tri-Valley, while companies such as Oracle, Tesla, General Electric, SAP, Snowflake, TriNet, and Accenture have a significant presence. The region’s depth of highly educated workforce talent continues to attract innovative companies. Biotechnology company 10X Genomics has made Pleasanton their corporate headquarters--with phase one of their new 381,000 SF campus recently completed. Additionally, ZEISS Meditec, industry leaders of scientific optics, made a significant expansion in the Tri-Valley with the opening of their 209,000 SF Innovation Center located in Dublin.

Tri-Valley: a Diversified & Thriving Economic Hub

Brayden Joel

Financial Analyst 503 933 9284 brayden.joel@berkadia.com

Hank Workman

Associate Director 415 646 7713 hank.workman@berkadia.com

INVESTMENT SUMMARY

4445 Stevenson Blvd, Fremont, CA 94538

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pARC 88

To be determined by market To be determined Free & clear of existing financing 4445 Stevenson Blvd, Fremont, CA 94538 Alameda 1964 5.1 222,287 88 1,008 SF 88,664 SF $2,918 $2.90 98%

Price Bid Terms of Sale Address County Year Completed Site Size Acres Site Size Square Feet Total Residential Units Average Unit Size Net Rentable Area Average In-Place Rent Average In-Place Rent/SF Occupancy

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DISCLAIMER: The information contained herein is assumed to be correct and data-supported. Return projections are forecasts and are not to be considered fact.

Investment Advisors Jason Parr Senior Managing Director 415 407 2106 jason.parr@berkadia.com Scott MacDonald Managing Director 415 310 0487 scott.macdonald@berkadia.com John Hansen Director 415 342 5772 john.hansen@berkadia.com Sydney Ladrech Senior Financial Analyst 916 677 6633 sydney.ladrech@berkadia.com Brayden Joel Financial Analyst 503 933 9284 brayden.joel@berkadia.com Debt Advisors Clay Akiwenzie Managing Director 775 447 0595 clay.akiwenzie@berkadia.com Hank Workman Associate Director 415 646 7713 hank.workman@berkadia.com

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