Page 6 - BRC / AP 4.21.19 v1

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Location: CASTLE ROCK, CO
Product: Bou+que Re+rement Club
Total Suites: 120
Current Status: Nego+a+ons
Es+mated Development Budget: $44,400,000
Timing: Site will require rezone however we see very liZle possibility of NIMBY due to secluded loca+on and nearby retail, hospital and park. Site overlooks walking trail and PlaZ River with stunning views of the Castle Rock, front range and downtown. We an+cipate having site under a purchase contract within 14 days. The landowner has developed all over the area and will be very helpful with the City. This will be a Q4 closing with construc+on beginning in Q1 2020. Construc+on es+mated to take 24 months.
Location: NORTH ARLINGTON, TX
Product: Bou+que Re+rement Club
Total Suites: 90
Current Status: Nego+a+ons
Es+mated Development Budget: $33,300,000
Timing: This site is part of a high-end residen+al development. The proposed BRC would be situated by itself on an island on a private lake. Boa+ng is permiZed on this lake. We have been working on a deal for this site since late 2017 and recently re-engaged with new developer. This surrounding development is strong. While the landowner has spoken with us numerous +mes in the past 2 years, the hesita+on has been that they are si]ng on a gold-mine and are reluctant to sell the island too low. They recently changed brokers and we have opened new discussions. We have a mixed-income senior living community under construc+on in downtown Arlington and for the past two years have been fully-immersed with the City regarding their strong demand for senior living. The Mayor and Council are very suppor+ng of our company and recommended this site to us in 2017. An+cipate ge]ng site under contract by Q3 and closing simultaneously with permits Q2 2020. Es+mated 24-month build out.
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