Crosswinds / Cove Apartments 6101 N. May Avenue Oklahoma City, OK 73112

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1 Arkansas Oklahoma Kansas Crosswinds / Cove Apartments 6101 N. May Avenue Oklahoma City, OK Mike Buhl CRRC-OKC buhl@crrc.us Darla Knight CRRC-Tulsa darla@crrc.us $8,250,000 Only vintage property in OKC with an Indoor Heated Swimming Pool 194 Units in Oklahoma City Stabilized Properties with in-place NOI High Quality Assets Northwest Oklahoma City A Location Near Major Medical Facilities Buyer can obtain New Financing Providing professional apartment brokerage and marketing services for over 31 years

2 Crosswinds / Cove Apartments Table of Contents Disclaimer Page 4 Executive Summary Page 5 Unit Mix Summary Page 6 Submarket Map Page 7 Financial Summary Page 37 Crosswinds P&L Spreadsheet Page 37A Crosswinds Cove P&L Spreadsheet Page 37B 2. Crosswinds Apartments Page 9 Property Photographs Page Neighborhood Map Page 13 Aerial Map Page 14 Offering Description Page Unit Mix Page 18 Floor Plans Page Site Map Page 21 Purchase Price Page Sale Comps Page Rent Comps Page Oklahoma City at a Glance Page 56 CRRC Broker Contact Information Page 58 Oklahoma Broker Relationship Act Page Crosswinds Cove Apartments Page 24 Property Photographs Page Neighborhood Map Page 27 Aerial Map Page 28 Offering Description Page Unit Mix Page 32 Floor Plans Page 33 Site Map Page 34 Purchase Price Page 35 2

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4 Crosswinds / Cove Apartments Disclaimer This package has been prepared to provide summary information to prospective buyers and to establish an initial and preliminary level of interest in the property described herein. It is not intended to present all material information regarding the subject property, and is not a substitute for a complete and thorough due diligence investigation. Commercial Realty Resources has not made any investigation of the actual property, the tenants, the operating history, financial reports, leases, square footage, age or any other aspect of the property, including but not limited to the actual number of appliances being conveyed or any potential environmental problems that may exist and makes no warranty or representation whatsoever concerning these issues. The information contained in this package has been obtained from sources we believe to be reliable; however, Commercial Realty Resources and Seller have not conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. Any pro forma, projections, opinions, assumptions or estimates used are for example only and do not necessarily represent the current or future performance of the property. Commercial Realty Resources and Seller recommend that prospective buyers conduct an in-depth investigation of the physical and financial aspects of the property to determine if the property meets their needs and expectations. We also recommend that prospective buyers consult with their tax, financial and legal advisors on any matter that may affect their decision to purchase the property and the subsequent consequences of ownership. Commercial Realty Resources and Seller recommend that prospective buyers consult with qualified professionals regarding the presence of any molds, funguses, or other organisms that may adversely affect the property and the health of individuals. The material contained in this document is not to be copied and/or used for any purpose or made available without the express written consent of Commercial Realty Resources. 4

5 Crosswinds / Cove Apartments Oklahoma City, OK Units Executive Summary Offering Price $8,250,000 Price Per Unit $42,525 Price Per Square Foot $58.16 Cap Rate 7.58 Projected Cash-on-Cash Over 19% using I.O. Buyer can Obtain New Loan Total Units 194 Building Square Footage 141,850 Average Unit Size 731 Property Descriptions Construction The properties were built in 1968 and Both properties are in excellent condition and represent above average quality and construction. Utilities Amenities Total electric and individually metered with tenants paying their own utilities. Indoor swimming pool Area Property A Locations in Northwest Oklahoma City near Deaconess Hospital and Integris Baptist Medical Center. The package is made up of 2 properties that total 194 units. These properties have been well maintained. Financing Properties can be delivered free and clear so the buyer can take advantage of today s historic low interest rates. No defeasance premium to the buyer. 5

6 Crosswinds / Cove Apartments Oklahoma City, OK Units Unit Mix Summary No. Type Bdrm / Bth Est. Sq. Ft. Total Sq.Ft Rent Roll Rent/Sq.Ft. Gross/Mo. Gross/Yr. 33 St. Lucia 1 Bed / 1 Bath , , ,580 4 St. Martin 1 Bed / 1 Bath 798 3, ,600 31, St. Thomas 2 Bed / 1 Bath , , ,600 1 St. Thomas 2 Bed / 1 Bath , , ,380 No. Type Bdrm / Bth Est. Sq. Ft. Total Sq.Ft Rent Roll Rent/Sq.Ft. Gross/Mo. Gross/Yr. 19 Aruba Studio/1 Bath 518 9, , , Barbados Efficiency/1 Bath , , , Barbuda 1 Bed/1 Bath , , , St. Vincent 2 Bed/1 Bath , ,028 96,336 8 St. Thomas 2 Bed/1 Bath 898 7, ,360 64, Bermuda 2 Bed/2 Bath , , , Cayman 2 Bed/1.5 Bath TH 1,000 19, , , , , ,824 Portfolio Unit Mix 2 Bed / 2 Bath 8% 2 Bed TH 10% 2 Bed / 1 Bath 26% 1 Bed 56% 6

7 Crosswinds / Cove Apartments Oklahoma City, OK Units Submarket Map Crosswinds Crosswinds Cove 7

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9 Crosswinds Apartment 6101 N. May Avenue Oklahoma City, OK Units

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13 Neighborhood Map 13

14 Aerial Photo 14

15 Offering Description Crosswinds Highlights: 126-units 1968 Construction Complete New Pitched and TPO Roofs Only property of its vintage in Oklahoma City with a heated indoor swimming pool Individual Meters Washer and Dryer connections in select units with an easy conversion on Townhouse units Many units with Balconies or Patios Crosswinds and Crosswinds Cove are managed as one property to provide operating efficiencies. Crosswinds was built in 1968 and consists of 126 units on approximately 4.84 acres of land with on-site laundry facilities, One indoor swimming pool, large upstairs space that could be used for a business center and/or clubroom. The buildings are contemporary style with brick veneer, wood siding and trim and a combination of pitched and flat roofs. The unit mix consists of 71 one-bedroom units and 55 two-bedroom units. Unit interiors include refrigerators and appliance packages including; dishwasher, range/ oven, vent hood and garbage disposal. The apartments are individually metered for electric and HVAC and the tenants pay for their own electric service. The owner pays for common area electricity, water, sewer and trash removal. Each apartment has an individual electric hot water heater. Crosswinds is located just north of the world-class Integris Baptist Medical Center and within minutes of Deaconess Hospital. Lake Hefner and Quail Springs Mall are conveniently located to the North and Penn Square Mall to the South. 15

16 Property Description: Crosswinds is a two and three-story garden style apartment community. Number of Units: 126 Number of Buildings: Year Built: Apartment Features: Property Amenities: 16 two and three-story apartment buildings plus 1 building for the clubroom and indoor pool (according to courthouse records) Apartments feature wall-to-wall carpeting and vinyl tile in the kitchen and baths. Walk-in closets, vertical and mini-blinds, ceiling fans, frost-free refrigerator/freezer, dishwasher, range/ oven with vent-hood, and garbage disposal. Washer and dryer connections in select apartments and many of the units have balconies or patios. Indoor Heated Swimming Pool On-site Laundry Facilities Large upstairs space that could be used for a business center or clubroom. Construction: Style: Exterior: Two and three-story Garden Style Brick Veneer with wood siding and trim. Asphalt parking areas with concrete curbs and walkways. Roof: Mechanical System: Electrical Metering: HVAC: Hot Water: Water: Site/Land Area: Density: Combination of Gable Roofs with Composition Shingles and Flat Mansard Roofs Individually Metered Individual HVAC Individual Hot Water Heaters Provided by Property 4.84 acres (according to courthouse records) units per acre Current Occupancy: Averages 93 to 95% Real Estate Taxes: Assessed Value (2015): 382,015 Tax Rate Per 1,000: Taxes: $46,396 16

17 Recent Capital Improvements: All New Pitched and TPO Roofs. Window replacement on roughly 35 to 40% of the property. 17

18 UNIT MIX No. Type Bdrm / Bth Est. Sq. Ft. Total Sq.Ft Rent Roll Rent/Sq.Ft. Gross/Mo. Gross/Yr. 19 Aruba Studio/1 Bath 518 9, , , Barbados Efficiency/1 Bath , , , Barbuda 1 Bed/1 Bath , , , St. Vincent 2 Bed/1 Bath , ,028 96,336 8 St. Thomas 2 Bed/1 Bath 898 7, ,360 64, Bermuda 2 Bed/2 Bath , , , Cayman 2 Bed/1.5 Bath TH 1,000 19, , , , , ,824 DISTRIBUTION RATIO 2 Bed 2 Bath 13% 2 Bed TH 15% 2 Bed 16% 1 Bed 56% 18

19 FLOOR PLANS 19

20 FLOOR PLANS 20

21 SITE MAP 21

22 PURCHASE PRICE & TERMS Purchase Price: $5,140,000 Terms of Sale: Cash Buyer to Obtain New Financing Price Per Apartment Unit: $40,794 Price Per Net Rentable Sq. Ft. $57.15 Cap Rate: (Based on Pro forma) 7.58% 22

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24 Crosswinds Cove Apartment 2805 N.W. 59th Street Oklahoma City, OK Units

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27 Neighborhood Map 27

28 Aerial Photo 28

29 Offering Description Crosswinds Cove Highlights: 68-units 1969 Construction Complete New TPO Roofs Individual Meters Stack Washer and Dryer in each unit Many units with Balconies or Patios Crosswinds and Crosswinds Cove are managed as one property to provide operating efficiencies. Crosswinds Cove was built in 1969 and consists of 68 units on approximately 1.77 acres of land. Amenities include stack washer and dryers in every apartment. The amenity package at Crosswinds is available to the residents at Crosswinds Cove. The buildings are contemporary style with brick veneer, wood siding and trim and flat TPO roofs. The unit mix consists of 37 one-bedroom units and 31 two-bedroom units. Unit interiors include refrigerators and appliance packages including; dishwasher, range/ oven, vent hood and garbage disposal. The apartments are individually metered for electric and HVAC and the tenants pay for their own electric service. The owner pays for common area electricity, water, sewer and trash removal. Each apartment has an individual electric hot water heater. Crosswinds Cove is across the street from Crosswinds providing operating efficiencies. As with Crosswinds, Cove is located just north of the world-class Integris Baptist Medical Center and within minutes of Deaconess Hospital. 29

30 Property Description: Crosswinds Cove is a two-story garden style apartment community. Number of Units: 68 Number of Buildings: 10 two-story apartment buildings Year Built: Apartment Features: 1969 (according to courthouse records) Apartments feature wall-to-wall carpeting and vinyl tile in the kitchen and baths. Walk-in closets, vertical and mini-blinds, ceiling fans, frost-free refrigerator/freezer, dishwasher, range/ oven with vent-hood, and garbage disposal. Stack Washer and dryers in every apartment. Property Amenities: The amenity package at Crosswinds is available to the residents at Crosswinds Cove. Construction: Mechanical System: Style: Exterior: Roof: Two-story Garden Style Brick Veneer with wood siding and trim. Asphalt parking areas with concrete curbs and walkways. Flat TPO Roofs Electrical Metering: HVAC: Hot Water: Individually Metered Individual HVAC Individual Hot Water Heaters Site/Land Area: Density: Water: Provided by Property 1.77 acres (according to courthouse records) units per acre Current Occupancy: Averages 93 to 95% Real Estate Taxes: Assessed Value (2015): 174,693 Tax Rate Per 1,000: Taxes: $20,002 30

31 Recent Capital Improvements: All New TPO Roofs. Complete parking lot resurface. 31

32 UNIT MIX No. Type Bdrm / Bth Est. Sq. Ft. Total Sq.Ft Rent Roll Rent/Sq.Ft. Gross/Mo. Gross/Yr. 33 St. Lucia 1 Bed / 1 Bath , , ,580 4 St. Martin 1 Bed / 1 Bath 798 3, ,600 31, St. Thomas 2 Bed / 1 Bath , , ,600 1 St. Thomas 2 Bed / 1 Bath , , ,380 DISTRIBUTION RATIO 2 Bed 46% 1 Bed 54% 32

33 FLOOR PLANS 33

34 SITE MAP 34

35 PURCHASE PRICE & TERMS Purchase Price: $3,110,000 Terms of Sale: Cash Buyer to Obtain New Financing Price Per Apartment Unit: $45,735 Price Per Net Rentable Sq. Ft. $59.91 Cap Rate: (Based on Pro forma) 7.59% 35

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37 Crosswinds / Cove Apartments Oklahoma City, OK Units Financial Summary Annualized Operating Data Proforma Effective Rental Income $1,150,943 $1,208,749 $1,249,620 Other Income $89,887 $60,009 $60,009 Utility Reimbursement $45,273 $47,958 $47,958 Gross Operating Income $1,286,103 $1,316,716 $1,357,587 Less Expenses $771,690 $782,857 $731,651 Net Operating Income $514,413 $533,859 $625,935 Estimated NEW I.O. Payment $303,600 $303,600 $303,600 Pre-Tax Cash Flow $210,813 $230,259 $322,335 Cash-on-Cash Return 19% Cap Rate 7.59 Expenses Per Square Foot $5.15 Expenses Per Unit $3,771 Loan Summary New Loan Loan Amount $6,600,000 Interest Rate (estimated) 4.60% Annual Payment $406,014 Annual Interest Only Payment $303,600 Equity Amount $1,650,000 Loan Type Freddie Mac 37

38 Annual Property Operating Data Property: Crosswinds Apartments Offering Price: $ 5,140,000 Run Date: 20-May-16 Location: 6101 N. May Avenue Price Per Unit: $ 40,794 Cap Rate On Proforma: 7.58% Number of Units: 126 Price Per Foot: $ Cash-On-Cash Return: 19.52% Net Rentable S.F. 89,938 Mortgage Balances: $ 4,112,000 Avg. Unit Size: 714 Equity Requirement: $ 1,028,000 20% No. Type Bdrm / Bth Est. Sq. Ft. Total Sq.Ft Rent Roll Rent/Sq.Ft. Gross/Mo. Gross/Yr. 19 Aruba Studio/1 Bath 518 9, , , Barbados Efficiency/1 Bath , , , Barbuda 1 Bed/1 Bath , , , St. Vincent 2 Bed/1 Bath , ,028 96,336 8 St. Thomas 2 Bed/1 Bath 898 7, ,360 64, Bermuda 2 Bed/2 Bath , , , Cayman 2 Bed/1.5 Bath TH 1,000 19, , , , , , Feb 2016 Trailing 12 Proforma New FNMA Financing INCOME Per Unit Market Rents 829, , , , ,824 7,324 Less Loss-to-Lease 32,699 58,463 71,740 74,907 60, Original Bal. Apr-16 $ 4,112,000 Gross Potential 796, , , , ,824 6,848 Current Bal. Apr-16 $ 4,112,000 Less Vacancy 45,055 45,202 40,842 35, % 43, Maturity 10 Less Model Units Amortization 30 Less Employee Units 1,656 5, Interest Rate 4.600% Less Concessions 26,877 28,829 21,182 21,053 21, Constant 6.152% Less Other Losses 5,100 7,342 6,143 6,747 6, Debt Service $ 252,959 Effective Rental Income 718, , , , ,183 6,287 Debt Coverage Ratio 1.54 Other Income 41,998 66,467 40,748 41,818 40, Interest Only Pmt $ 189,152 Utility Reimbursements 29,820 29,888 31,411 32,265 31, Gross Operating Income 789, , , ,854 plus 1.8% 864,342 6,860 EXPENSES R E Taxes 38,390 43,625 42,270 42,585 65, Insurance 50,192 58,080 26,461 38, Premium 37, Gas 1,614 1,450 1,315 1,127 1, Electricity 22,478 22,208 25,178 21,242 25, Water / Sewer 53,446 57,202 51,181 50,518 51, Trash 10,816 6,144 5,944 6,142 5, Make Ready 5,737 18,803 12,116 12,208 12, Equipment Parking / Grounds 8,276 10,913 14,394 14,466 14, Recreational / Safety 4,120 3,369 2,002 1,938 2, Maintenance / Repairs 37,721 50,268 66,891 70,730 31, Wages & Payrol Taxes 170, , , , ,300 1,050 Management Fee 39,435 40,963 41,814 42,367 3% 25, Advertising 18,471 20,720 12,840 13,388 13, Administration 22,907 35,264 35,456 35,345 25, Replacements , Total Operating Expenses 484, , , , ,505 Per Unit 3,847 4,089 3,904 4,043 3,766 Per Sq Ft Net Operating Income 305, , , , ,836 3,094 Debt Service ,152 1,501 Cash Flow 305, , , , ,684 1,593 Real Estate Tax Information: 2015 Assessed Value: 382,015 Rate/$1000: Value: $ 3,472, Account: R Tax Amount: $ 46,396 Tax Dist: 0 Per Unit: $ 27, thru 2016 Management Fee includes 3% for third party management and a 2% asset fee to the Owner 2013 Administration has been reduced by $20,702 for Legal Counsel Fees unrelated to property operations 2014 Administration has been reduced by $49,558 for Legal Counsel Fees unrelated to property operations 2015 Administration has been reduced by $112,033 for Legal Counsel Fees unrelated to property operations 2016 Administration has been reduced by $111,985 for Legal Counsel Fees unrelated to property operations

39 Annual Property Operating Data Property: Crosswinds Cove Apartments Price: $ 3,110,000 Run Date: 20-May-16 Location: 2805 NW 59th Street Price Per Unit: $ 45,735 Cap Rate On Proforma: 7.59% Number of Units: 68 Price Per Foot: $ Cash-On-Cash Return: 19.56% Net Rentable S.F. 51,912 Mortgage Balances: $ 2,488,000 Avg. Unit Size: 763 Equity Requirement: $ 622,000 20% No. Type Bdrm / Bth Est. Sq. Ft. Total Sq.Ft Rent Roll Rent/Sq.Ft. Gross/Mo. Gross/Yr. 33 St. Lucia 1 Bed / 1 Bath , , ,580 4 St. Martin 1 Bed / 1 Bath 798 3, ,600 31, St. Thomas 2 Bed / 1 Bath , , ,600 1 St. Thomas 2 Bed / 1 Bath , , , Feb 2016 Trailing 12 Proforma New FNMA Financing INCOME Per Unit Market Rents 478, , , , ,380 7,609 Less Loss-to-Lease 10,890 10,277 10,890 14,111 10, Original Bal. Apr-16 $ 2,488,000 Gross Potential 468, , , , ,380 7,461 Current Bal. Apr-16 $ 2,488,000 Less Vacancy 15,048 36,343 34,455 33, % 30, Maturity 10 Less Model Units Amortization 30 Less Employee Units 7,265 7,424 7,473 6,320 7, Interest Rate 4.60% Less Concessions 13,519 9,540 8,113 6,634 8, Constant 6.152% Less Other Losses 5,924 6,860 4,051 5,690 4, Debt Service $ 153,055 Effective Rental Income 426, , , , ,437 6,727 Debt Coverage Ratio 1.54 Other Income 23,018 23,420 19,261 18,312 19, Interest Only Pmt $ 114,448 Utility Reimbursements 15,891 15,385 16,547 16,887 16, Gross Operating Income 465, , , ,257 plus 2.7% 493,245 7,254 EXPENSES R E Taxes 19,160 19,085 33,035 29,601 38, Insurance 28,100 25,965 38,509 34, Premium 21, Gas Electricity 4,260 5,469 6,886 6,693 6, Water / Sewer 24,557 22,887 27,792 28,346 27, Trash 4,443 6,241 3,964 4,324 3, Make Ready 3,860 8,085 7,318 7,693 7, Equipment Parking / Grounds 4,097 6,329 4,981 5,020 5, Recreational / Safety 826 1, , Maintenance / Repairs 18,401 25,796 21,962 21,324 17, Wages & Payrol Taxes 92,763 80,058 90,496 90,871 71,400 1,050 Management Fee 23,293 23,006 23,809 23,949 3% 14, Advertising 9,291 9,995 11,642 8,287 11, Administration 15,854 20,502 18,962 19,302 13, Replacements , Total Operating Expenses 250, , , , ,146 Per Unit 3,677 3,773 4,279 4,142 3,782 Per Sq Ft Net Operating Income 215, , , , ,099 3,472 Debt Service ,448 1,683 Cash Flow 215, , , , ,651 1,789 Real Estate Tax Information: 2015 Assessed Value: 174,693 Rate/$1000: Value: $ 1,588, Account: R Tax Amount: $ 20,002 Tax Dist: 0 Per Unit: $ 23, thru 2015 Management Fee includes 3% for third party management and a 2% asset fee to the Owner

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41 Crosswinds / Cove Apartments Oklahoma City, OK Units Sold Comparison Property Address: 5107 N. Hammond, Oklahoma City Size and Age: 84-units, Built in 1972 Price: $3,600,000 Price Per Unit: $42,857 Closing Date: 08 / 2015 Total Square Footage: 78,912 Highland Oaks Property Address: 1701 NW 46th, Oklahoma City Size and Age: 136-units, Built in 1964 Price: $5,000,000 Price Per Unit: $36,764 Closing Date: 02 / 2016 Total Square Footage: 94,732 Jaime s Landing Property Address: 4320 NW 50th, Oklahoma City Size and Age: 78-units, Built in 1984 Price: $3,556,000 Price Per Unit: $45,589 Closing Date: 12 / 2015 Total Square Footage: 67,081 Mansion West Property Address: 2100 NW 47th, Oklahoma City Size and Age: 64-units, Built in 1964 Price: $2,650,000 Price Per Unit: $41,406 Closing Date: 06 / 2015 Total Square Footage: 57,671 Seven Oaks 39

42 Crosswinds / Cove Apartments Oklahoma City, OK Units Sold Comparison Property Address: 4601 W. Nicklas, Oklahoma City Size and Age: 136-units, Built in 1970 Price: $8,165,000 Price Per Unit: $60,036 Closing Date: 12 / 2015 Total Square Footage: 146,720 Esplanade Property Address: 2700 Indian Creek, Oklahoma City Size and Age: 358-units, Built in 1972 Price: $16,050,000 Price Per Unit: $44,832 Closing Date: 04 / 2015 Total Square Footage: 330,655 Aspen Place 40

43 Crosswinds / Cove Apartments Oklahoma City, OK Units Sold Comparison Summary Property Price/Unit Overall Price No. Unit Year Built Highland Oaks $42,857 $3,600, Jamie s Landing $36,764 $5,000, Mansion West $45,589 $3,556, Seven Oaks $41,406 $2,650, Esplanade $60,036 $8,165, Aspen Place $44,832 $16,050, Total / Average $45,585 $39,021, Crosswinds / Cove $42,525 $8,250, Price per Unit Average $60,000 $50,000 $40,000 $30,000 $20,000 $42,857 $36,764 $45,589 $41,406 $60,036 $44,832 $42,525 $10,000 41

44 Crosswinds / Cove Apartments Oklahoma City, OK Units Sold Comparison Map 42

45 Crosswinds / Cove Apartments Oklahoma City, OK Units RENT COMPS In order to estimate market rents for Crosswinds / Cove, five apartment communities were selected as most competitive. Each property has been chosen due to its similarity with regard to quality, location, age, or amenities. While each property may not be directly comparable in all aspects, collectively they represent the rental market for Crosswinds / Cove. Rental Rates are based on market rates only and do not include any concessions or specials. Ambassador House Apartments 4517 N. Pennsylvania, OKC Units Built in 1966 The Warwick Apartments 3100 NW Expressway, OKC Units Built in 1978 Esplanade by the Lake Apartments 4601 W. Nicklas Ave, OKC Units Built in 1970 Chevy Chase Apartments 6401 N. Warren, OKC Units Built in 1972 Chandelaque Apartments 5528 N. Portland, OKC Units Built in

46 Crosswinds / Cove Apartments Oklahoma City, OK Units Rent Comps at a Glance Ambassador House Apartments 4517 N. Pennsylvania, OKC Floor Plans & Pricing Beds Bath Sq. Ft. Rent Rent Per Sq. Ft $599 $ $699 $ TH $759 $

47 Crosswinds / Cove Apartments Oklahoma City, OK Units Ambassador House Apartments 4517 N. Pennsylvania, OKC

48 Crosswinds / Cove Apartments Oklahoma City, OK Units Rent Comps at a Glance The Warwick Apartments 3100 NW Expressway, OKC Floor Plans & Pricing Beds Bath Sq. Ft. Rent Rent Per Sq. Ft $610 to $710 $0.94 to $ $730 to $940 $0.79 to $ $970 to $1,095 $0.69 to $0.78 Only those units with the closest square footage to the subject property were used for comparison. 46

49 Crosswinds / Cove Apartments Oklahoma City, OK Units The Warwick Apartments 3100 NW Expressway, OKC

50 Crosswinds / Cove Apartments Oklahoma City, OK Units Rent Comps at a Glance Esplanade by the Lake Apartments 4601 W. Nicklas Ave, OKC Floor Plans & Pricing Beds Bath Sq. Ft. Rent Rent Per Sq. Ft $685 $ $785 $ $885 $

51 Crosswinds / Cove Apartments Oklahoma City, OK Units Esplanade by the Lake Apartments 4601 W. Nicklas Ave, OKC

52 Crosswinds / Cove Apartments Oklahoma City, OK Units Rent Comps at a Glance Chevy Chase Apartments 6401 N. Warren, OKC Floor Plans & Pricing Beds Bath Sq. Ft. Rent Rent Per Sq. Ft $509 to $589 $0.73 to $ $609 to $689 $0.68 to $ TH $709 to $789 $0.59 to $

53 Crosswinds / Cove Apartments Oklahoma City, OK Units Chevy Chase Apartments 6401 N. Warren, OKC

54 Crosswinds / Cove Apartments Oklahoma City, OK Units Rent Comps at a Glance Chandelaque Apartments 5528 N. Portland, OKC Floor Plans & Pricing Beds Bath Sq. Ft. Rent Rent Per Sq. Ft $585 $ $595 $ $619 $ $699 $ $699 $

55 Crosswinds / Cove Apartments Oklahoma City, OK Units Chandelaque Apartments 5528 N. Portland, OKC

56 Crosswinds / Cove Apartments Oklahoma City, OK Units RENT COMP MAP 54

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58 Crosswinds / Cove Apartments Oklahoma City, OK Units Click below to view Oklahoma City at a Glance 56

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60 Crosswinds / Cove Apartments Oklahoma City, OK Units Mike Buhl CRRC Oklahoma City th Avenue SW, Suite 100 Norman, OK buhl@crrc.us Darla Knight CRRC Tulsa 4137 S. Harvard, Suite E Tulsa, OK darla@crrc.us 58

61 OKLAHOMA REAL ESTATE COMMISSION What You Need to Know About Broker Services A real estate broker may work with one or both parties to a real estate transaction. The Oklahoma Broker Relationships Law (Title 59, Oklahoma Statutes, ) allows a real estate firm to provide brokerage services to both parties to the transaction. This could occur when a firm has contracted with a seller to sell their property and a prospective buyer contacts that same firm to see the property. If the prospective buyer wants to make an offer on the property, the firm must now provide a written notice to both the buyer and seller that the firm is now providing brokerage services to both parties to the transaction. Oklahoma real estate brokers have mandatory duties and responsibilities to all parties in a real estate transaction. These duties and responsibilities shall be described and disclosed in writing prior to signing a contract to sell, purchase, lease, option or exchange real estate. These duties and responsibilities are to: Treat all parties with honesty and exercise reasonable skill and care. Receive all written offers and counteroffers, reduce offers or counteroffers to a written form upon request of any party to a transaction and present timely all written offers and counteroffers (unless specifically waived in writing by a party). Timely account for all money and property received by the broker. Disclose information pertaining to the property as required by the Residential Property Condition Disclosure Act. Comply with all requirements of The Oklahoma Real Estate License Code and all applicable statutes and rules. Keep confidential information received from a party or prospective party confidential unless written consent is granted by the party, the disclosure is required by law, or the information is public or becomes public as the results of actions from a source other than the broker. Confidential information includes: o That a party is willing to pay more or accept less than what is being offered o That a party or prospective party is willing to agree to financing terms different from those offered o The motivating factors of the party or prospective party purchasing, selling, leasing, optioning or exchanging the property o Any information specifically designated as confidential by the party unless such information is public. A broker has additional duties and responsibilities only to a party for whom the broker is providing brokerage services. These duties and responsibilities shall also be described and disclosed in writing prior to signing a contract to sell, purchase, lease, option and exchange real estate. These duties are to: Inform the party in writing when an offers is made that the party will be expected to pay certain costs, brokerage services costs and approximate amount of the costs. Keep the party informed regarding the transaction. If a broker intends to provide fewer brokerage services than those required to complete a transaction, the broker shall provide written disclosure to the party for whom the broker is providing services. The disclosure shall include a description of those steps in the transaction that the broker will not provide and state that the broker assisting the other party in the transaction is not required to provide assistance with these steps in any manner. Disclosure of these duties and responsibilities is required in writing. The duties and responsibilities disclosed by the broker shall be confirmed in writing by each party in a separate provision, incorporated in or attached to the contract to purchase, option or exchange real estate. Services provided to a tenant do not automatically create a broker relationship. When a broker provides brokerage services to a landlord under a property management agreement, the services provided to the tenant by the broker shall not be construed as creating a broker relationship between the broker and the tenant unless otherwise agreed to in writing; however, the broker owes to the tenant the duties of honesty and exercising reasonable skill and care. For more information, visit This form was created by the Oklahoma Real Estate Contract Form Committee and approved by the Oklahoma Real Estate Commission. OREC BROKER SERVICES INFORMATION ( )