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The Cove at NOLA - 300 Units in New Orleans, Louisiana

November 2013 The Cove at NOLA is located in metro New Orleans in the suburb of East New Orleans, an area that is experiencing unprecedented growth and redevelopment. It is directly across the street from a new elementary school and is in close proximity to a host of new retail developments as well as a new community hospital. Given the Property's present physical condition and location, there is significant upside potential in providing SRC's add-value program in order to increase rents and income. This acquisition marks SRC's attainment of over 10,000 units!

Two Properties Acquired - SRC's Presence in Texas Grows

October 2013 As a result of SRC's efforts to gain a foothold in the Texas multi-family market and capitalize on its extensive expertise and experience in the area, SRC has succeeded in acquiring another 276 units in Texas. Central Park II and Bedford Oaks were purchased in October and December of 2013 and are located in Arlington and Bedford, respectively. Central Park 2 is adjacent to SRC's Central Park property and serves to create an assemblage of like properties allowing for greater cohesion and accessibility for both properties. Bedford Oaks is now the fourth property in Bedford acquired by SRC and offers the opportunity to make drastic capital and operational improvements to a similar property in a very familiar submarket.

Additional 256 Units Acquired in Jacksonville, Florida in 2013

August 2013 In looking to provide secure, above average investment returns through the strategic acquisition and asset management of multifamily properties in emerging markets, SRC has successfully acquired Deerfield Apartments in August 2013. With capital improvement and management strategies already proven in the Jacksonville area, SRC has the ability to capture the upswing in rental rates and occupancy in a swift and effective capacity. Deerfield Apartments offers SRC the ability to grow its portfolio in the Jacksonville region, a region that is robust and growing. Deerfield will be a great addition to the 640 units SRC owns, all of which have achieved substantially higher rents and maintain a stable occupancy of 94-96% since takeover.

SRC's First Acquisitions in 2013

April 2013

SRC acquired Place Du Pointier Apartments (PDP) and Harvest Glen Apartments totaling 615 units in May and June of 2013 respectively. PDP is the second property SRC has acquired in Baton Rouge in the past 9 months. Harvest Glen is the first property SRC has acquired in Southern California in several years. SRC has joint ventured Harvest Glen with its HAPI non-profit corporation, which brings health and wellness and other programs to multifamily residntial communities in conjunction with a partnership with Yale University. PDP is a unique property located approximately 1 mile away from Louisiana State University (LSU) and caters mainly to the student renter population.