Page 20 - NOLASky_OfferingMemorandum_GSP

Market Comparables

Rent

Property Address Submarket Year Built Units Two Bedroom Three Bedroom

SF Rent $/SF SF Rent $/SF
1 Centennial at 5th 245 E Centennial Pkwy North Las Vegas 2009 428 1,182 $1,881 $1.59 1,232 $2,181 $1.77

2 Altessa 100 Park Vista Dr Summerlin West 2009 262 1,158 $1,800 $1.55 1,290 $1,814 $1.41
3 Sunstone 9353 W Twain Ave Spring Valley 1997 184 1,026 $1,387 $1.35 1,204 $1,689 $1.40

4 Elysian at Flamingo 10199 W Flamingo Rd Spring Valley 2019 360 1,126 $1,736 $1.54 1,752 $2,435 $1.39
5 Sanctuary 2200 N Torrey Pines Dr North Las Vegas 1989 320 1,000 $1,358 $1.36 1,100 $1,510 $1.37
Average -- -- 2005 264 1,098 $1,668 $1.50 1,316 $1,982 $1.50

NOLA Sky N Decatur Blvd & Rancho Dr Las Vegas 2022 160 1,056 $1,542 $1.46 1,317 $1,646 $1.25

Sale

Property Address Submarket Year Built Units Sale Price $/Unit Sale Date
1 Elysian at Flamingo 4150 Hualapai Way Spring Valley 2018 360 $104,600,000 $290,556 Dec-19

2 Echelon at Centennial Hills 9051 Echelon Point Dr Centennial 2008 62 $17,950,000 $289,516 Nov-19
3 South Beach Russell 8920 W Russell Rd Spring Valley 2017 220 $62,000,000 $281,818 Nov-18

4 EVO Apartments 8760 W Patrick Ln Spring Valley 2018 376 $104,500,000 $277,926 Dec-19
5 Domain Apartments 831 Coronado Center Dr Henderson 2014 308 $80,100,000 $260,065 Jan-20

Average -- -- 2015 265 $87,761,463 $278,394 --
NOLA Sky ¹ N Decatur Blvd & Rancho Dr Las Vegas 2022 160 $46,820,856 $292,630 --

¹ Exit Value Assumes Stabilized Year 3 (2025)

20 | NOLA Sky