Page 47 - Guardian Broker Questionnaire Summary Complete Package 2 2 22_Neat

1/28/2022
Guardian Place Broker Questionnaire
United Methodist Family Services
Page 3

 Management efficiencies
 Resident focused under one controlling entity

• Please provide comparable sales data to support your thinking.
Please refer to the track record and sale comparable data in our proposal. Due to client
sensitivity, we can discuss high level pricing in the Richmond market on our call.

• Method of sale—Guidance--Offering price or not – call for best and final.

CBRE Richmond and CBRE Affordable Housing will go to launch and plan to run a 30-
day marketing process which will include a best and final round following 7-10 days
after the initial round. It is imperative we ensure all interested parties will tour the
asset prior to their best and final offer is due.

We will plan to go out to the market unpriced due to the various executions the
opportunity presents. Please refer to the marketing timeline proposal.

6) Any operational or management recommendations to improve/enhance NOI prior to
marketing.
Our recommendation would be to allow our team to tour the asset to see if there are
any items we would address prior to launch, however the buyer pool will include a
reserve/cap ex schedule upon takeover. Overall, the property shows very well, and
we do not foresee any issues.

7) Any challenges or additional information/materials which could speed up or assist
in the sales process.
Management: Notifying the site staff of the sale and consider stay bonuses through
the escrow process to provide full transparency to the team members and make
them aware prospective buyers will be interviewing them to stay on if they desire.
Due Diligence:
• Utility Allowances
• 8609s to ensure we have the correct information and term of the
LURA.
Process Level: Notifying your lender to exercise any payoff processes and VHDA to
ensure we put the sale on their radar to expedite the transfer/notification process

8) Current market conditions and challenges-velocity of deals you anticipate
Discussion Point for our call