206 Units Villas Del Zocalo Dallas, TX

Though well-maintained, the property is underperforming in the market due to dated
unit interior finishes, exterior aesthetics, and lack of modern amenities. We look at
minor problems like this as HUGE opportunity. These factors are exactly what gives
us opportunity to come in and improve the asset and bring it to market rates.

Current In-Place Rents are $215 or 19% below the comparable average rents at
renovated properties in the immediate area around our property, demonstrating the
potential to increase Net Operating Income (NOI) through the strategic interior and
exterior renovations to reposition the property to compete with the market.