Page 40 - Guardian Broker Questionnaire Summary Complete Package 2 2 22_Neat

8) Current market conditions and challenges-velocity of deals you anticipate.
Investment sales volume in the Commonwealth essentially doubled in 2021 from the prior
year to over $2 Billion in volume. Record per unit pricing and low cap rates have been
fueled by an enormous amount of capital chasing deals, and the strong performance of
multi-family relative to other product types. This market dynamic is expected to continue into
2022, as investors have raised even more money to deploy this year.

9) Timing-how long to market and find buyer if priced to sell.
Marketing/Property Tours - 4 weeks
First & Second Round Offers / Best & Final - 2 weeks
Final Interviews – 1 week
DD/Closing - 60 days

10) Fee/commission structure
1.25%

11) Communication is critical with this ownership. Please note how often you intend to provide
activity and market updates.
• Weekly Calls/Reports detailing the progression of the sale process as well as providing
feedback and background on qualified parties interested in the asset
• Provide ownership with a detailed Registered Buyer matrix at the culmination of each week
• Provide on-going feedback on tour activity

Anything else we should know, or you would like to add.

Chesapeake Crossing – Case Study:

This was a great example of a multi-phase, senior affordable asset that we sold in 2021 to Standard,
one of the top affordable groups in the country. There were many challenges, including down units, 5-
phases with different builds, and operational issues with leasing and staff. We were able to bring in
over 10 offers from credible groups and beat our expected pricing by $1.75M through multiple rounds
of bidding. From that list we have the current pool of active buyers in the senior affordable space,
including both for- and non-profit groups.

Thanks for your interest. Any questions let us know.

Direct dial: 804-325-1476