villas-at-sunterra

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27035 Beacon Glen Drive | Katy, TX 77493

Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada. © 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.

Investment Sales Advisors:

CONTACT Info

Mortgage Banker:

Joel Kirstein

Managing Director +1 (346) 444-8975 joel.kirstein@berkadia.com

PAUL HARRIS

Senior Managing Director +1 (972) 764-8499 paul.harris@berkadia.com TX CRE #300179

JEFFREY SKIPWORTH

Managing Director +1 (214) 533-3322 jeffrey.skipworth@berkadia.com TX CRE #560404

2229 San Felipe Ste #1600 Houston, TX 77019 Phone +1 (713) 974-1300

HOUSTON OFFICE

GREG SMITH

Senior Managing Director +1 (972) 764-8490 greg.smith@berkadia.com TX CRE #403280

LOCATION

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DESIGNED FOR BEST-IN-CLASS PERFORMANCE

CHRIS CURRY

Senior Managing Director +1 (713) 553-0151 chris.curry@berkadia.com TX CRE #566750

CHRIS YOUNG

Managing Director +1 (972) 743-5742 chris.young@berkadia.com TX CRE #630674

JED DALTON

Senior Financial Analyst +1 (832) 314-5078 jed.dalton@berkadia.com TX CRE #787068

27035 Beacon Glen Drive | Katy, TX 77493

• Built 2023• One- Two- & Three-Bedroom Homes • Avg Unit Size: 753 SF

INVESTMENT HIGHLIGHTS

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196 Unit Single-Family-Rental Community

The Opportunity

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The Property

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The Location

The Opportunity

Location

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The Property

The Opportunity

Villas at Sunterra is a newly constructed and stabilized build-to-rent (BTR) community in the best-selling master-planned development in Texas. It is advantageously located in Sunterra, a 2,303-acre, residential development owned by Starwood Land in Katy, Texas with no additional plans to build anything similar. The outstanding success of Sunterra as it continues its buildout creates an incomparable traffic funnel to Villas at Sunterra, while its enviable amenity villages that are accessible to residents of Villas at Sunterra give it a distinctive competitive advantage. A testament to its effective positioning and quality of its product, Villas at Sunterra is nearing stabilization and provides a strong runway for rent growth and value appreciation as the development around it matures.

Investment Summary

Price Market Terms All Cash Year Built 2023 Total Acreage 47.46*Total Units 114Total SF 198,890Avg Unit SF 1,745Avg Rent/Unit $2,646 Avg Rent/SF $1.54 Leased 95% (As of 9/9/24)

Built by ONM Living, a sister company of HistoryMaker Homes, a renowned and award-winning company established in 1949 – making it the oldest, privately owned homebuilder in Texas Institutional-quality asset designed to capture premium rents and appeal to high income renters-by-choice Unit mix is perfectly curated for suburban BTR demographics with six floor plans and comprised of 2B (17%), 3B (53%), and 4B (30%) options Impressive leasing velocity, averaging 17 leases and 12 move-ins a month since May, and expected to reach stabilization within 13 months of first move-ins Excellent tenant profile with average age of 38 and 70% of households averaging $100K+ incomes Positioned in Sunterra, the #1 selling master-planned community in Texas and #3 in the U.S. both in 2023 and 2024 YTD (RCLCO Real Estate Consulting) Only BTR product in Sunterra development offering 100% single-family homes with private yards and two-car garages First to stabilize of its peers and offering mark-to-market opportunity for new ownership on 2nd generation leases Only BTR product of its peers to offer access to resort-style amenity villages inside a master-planned development with even more amenities coming online in 2025

STRONG DEMAND DRIVERS FOR MULTIFAMILY INVESTMENT

Zoned to #1 School District in the Houston metro and ranked in Top 2% of all school districts Texas and in the U.S. (Niche) Located in rapidly growing West Houston, projected to increase population (+18%) and jobs (+25%) by 2030 (West Houston Association) West Houston is Houston's best job growth corridor with one of the hottest office leasing markets in the U.S. (Houston Business Journal) Convenient proximity to I-10 and the Grand Parkway, the region’s most utilized transportation corridors Less than 30-minute commutes to Katy-area major employers (Memorial Hermann, Academy HQ, Amazon) and the Energy Corridor (120K jobs and 12 Fortune 500 HQ) Katy is one of Houston’s Tier One Suburbs and most desirable residential addresses, reflected in market-leading multifamily net absorption for the past decade Significant premium to own in Sunterra (+30%) and in Katy (+55%) New construction of SFR/BTR product in Houston has declined by 85% over the last year with only five new communities currently underway across the metro

The Retreat Amenity Village Clubhouse with hospitality and conference area Fitness center and yoga studio Lazy river and swimming pool with water slide Kids zone, splash pad, and playground ½ mile walking trail Event lawn and courtyards Dog parks Soccer field Sol Club Lagoon Amenity Village (2025) New Katy ISD Elementary School (2025)

Community Amenities

1- and 2-story single-family residences 9-foot (1st floor) and 8-foot (2nd floor) ceilings Powder rooms Stainless steel appliances Gas stoves Single basin undermount sinks Granite countertops Studies in select homes Flex spaces in select homes Laundry rooms with washers and dryers Backyards with privacy fences 2-car attached garages

Home Amenities

AMENITIES

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Exteriors

Interiors

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JOEY RIPPEL

Managing Director +1 (601) 919-5155 joey.rippel@berkadia.com TX CRE #654288

KYLE WHITNEY

Director +1 (713) 724-1456 kyle.whitney@berkadia.com TX CRE #658451

*Includes 15.06 acres, restricted for detention