Build-to-Rent Program

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2 About Greystone 1 Greystone is a single-family home builder that utilizes a solutions based approach to deliver the highest quality new construction rental properties with exceptional returns to the investor. With more than 60 years of experience, Greystone has developed its revolutionary Build-to- Rent platform to efficiently supply investors with newly constructed Class A inventory in the most highly desirable rental markets. Additionally, Greystone provides its management platform post completion to maintain your investment to the highest standards. Within the single-family rental industry, investors face certain limitations when it comes to acquiring newer Class A rental properties with regard to price, yield, and quantity. Greystone Home Builders was created to address the problem of the shrinking pool of rentable homes that were built in the last 5-8 years. Research shows that new home construction over the past 7 years has decreased 63% when compared to current levels. This has made investing in homes less than 10 years old extremely competitive with prices getting bid up, lowering yields on properties. By utilizing the Build-to-Rent platform, an investor is able to take advantage of our cost effective and well located new construction investment properties. Track Record Greystone have successfully executed over 4,500 home transactions, more than 4.5 million sq ft of construction throughout the United States. The established operational infrastructure includes acquisitions, construction and property management. In all, whether you need 1 or 500 new rental properties, Greystone makes acquiring new construction Class A properties as rentals as easy as Ready. Set. Invest!

3 Build-to-Rent Program 2 Presenting a new opportunity through the process of new home construction, paralleled with current market conditions, Greystone is able to build Class A single-family property at a discount to market value. Greystone s systematic Build-to-Rent approach is designed to deliver newly constructed Class A inventory to investors seeking to capitalize on the single-family rental market. We have developed an efficient process that makes the new inventory delivery process seamless for investors. Greystone will also help maintain the property post sale by allowing the investor to utilize our integrated property management services to take care of the day-to-day operations. Through comprehensive market research, Greystone identifies locations characterized by proximity to good school districts, work centers and transportation infrastructure, poised to experience population and economic growth. Greystone s Build-to-Rent platform is designed to give investors the ability to forecast their inventory, cash flow and property metrics months well in advance. Currently Greystone targets high rental demand MSA s in the states of Florida, North Carolina, and Texas. By leveraging our extensive experience within the construction sector, combined with our proven Build-to-Rent platform, we are able to deliver Class A inventory at superior rates of return. We work with our clients to build new single-family homes with the following process: Identify Investment Objectives At Greystone we believe in collaboration and teamwork. Throughout the criteria identification process, Greystone works tirelessly to understand and meet investor objectives. Determine Appropriate Locations and Floorplans for Investor We use our expertise and background to advise on floor plans, lots and finishes that match the demands of the market and meet the investor s investment objectives. Construction of New Single-Family Homes Greystone has streamlined the process for acquiring new construction properties so that it will not interfere with the investors current operations. Deliver Cost Effective New Construction Rental Assets We take great pride in delivering a high quality home that will provide superior cash flow and HPA. Ability to Utilize Full-Service Property Management Our vertically integrated platform allows the investor to benefit from full-service quality property management services to maintain the property to the highest standards post completion.

4 PHILLIP RYAN, In-house Management Company 3 Increased Resident Retention Initiatives Resident Focused philosophy with premier customer service in all departments Move-In welcome package and orientation 24/7 maintenance support combined with customer assistance through our resident services department Early renewal incentive program with relocation and transfer assistance Resident reward and referral programs. Phillip Ryan is a wholly owned subsidiary of Greysone Home Builders so the strength of the developer/ seller of your investment property is always available to ensure you get the first class service regarding management of your property, long after you have invested. - Strong, professional management is so important to landlords on the other side of the world, giving very necessary back up and security regarding all aspects of the ongoing operation of your investment property. Management is what it is all about and here you have a totally comprehensive service with years of experience.

5 Benefits of Working with Greystone 4 Full Service Property Management Capital Expenditures Our experienced single-family property Our 10 year warranty eliminates most of management team is placed to maintain the potential capital expenses of owning a the property to the highest standards. rental property. Full Leasing and Screening Service Three Year Rent Protection When a vacancy occurs, properties are At completion, Greystone signs a master professionally marketed and tenants are lease for the property and pays the stated qualified through a stringent screening rent for the first three years process. Capital Market Research Portal Reporting for Investor Updates and We have developed a comprehensive topdown analysis approach to identifying the Performance Our property management offers an ideal markets for single-family home online portal that gives the investor access investments. to the rental properties financial information. Repairs & Maintenance Our new construction homes are built with the cutting-edge building products that require less maintenance. Additionally, most appliances come with manufacturer warranties.

6 Dallas Economy 5 Dallas is a rapidly growing city with an economy as diverse as its population. The City government maintains an economic development strategy to create growth and stability. The Dallas-Fort Worth metropolitan area is the 4th largest in the United States with a local market of 7.0 million residents and projected to increase by 1 million new residents by As a result of the increased population growth, Dallas demand for housing is projected to increase by 21,000 units in MAJOR EMPLOYERS: Dallas has a dynamic and diverse economy with over 228,000 businesses, including global leaders such as Southwest Airlines, AT&T, Dean Foods, and Texas Instruments. Dallas has over 400,000 technology jobs with rapid growth in high tech occupations such as Biomedical Engineering, Medical Science, and System Software Developers. Dallas has the third largest percent change in employment from July 2012 to July The city s unemployment rate was 3.7% in April, Total number of firms: 228,604 Cost of Living: 6.3 percent higher than national average Taxes: No State Income Tax Average household size: 2.78 persons Total Households: 858,332 Median Age: 32.0 years Median household income: $49,481 Year over Year Change in Avg. Home Value: 10.1%.

7 South Oak Development 6 Development Address City State Zip Bed Bath Sqft Garage Exterior Sale Price Annual rent Less: Management fee Property tax Insurance Net Income Less debt Int & Cap Net income after debt cost Return after debt costs 3-Year Total Return* Property Inform South Oak Shortfleaf Drive, South Oak Dallas Texas Brick $184,900 $18,600 $1,488 $3,830 $600 $12,854 $8,415 $4,439 6% 48.40% r Income Statement Year 1 Total Total Total Month1 Month2 Month3 Month4 Month5 Month6 Month7 Month8 Month9 Month10 Month11 Month12 Year 1 Year 2 Year 3 Gross Income 1,550 1,550 1,550 1,550 1,550 1,550 1,550 1,550 1,550 1,550 1,550 1,550 18,600 18,600 18,600 Expenses: Management Fee ,488 1,488 1,488 Taxes ,658 3,658 3,658 Insurance Maintenance HOA Fees Total Expenses ,746 5,746 5,746 Net Operating Income 1,071 1,071 1,071 1,071 1,071 1,071 1,071 1,071 1,071 1,071 1,071 1,071 12,854 12,854 12,854 South Oak - DALLAS Just a short distance from downtown Dallas, benifiting from the metroplex s rapid economic expansion. Adjacent to the beltway circular freeway around Dallas giving easy access to any suburb. Minutes from Southeast Dallas Health Center and Dallas Regional Medical Center. ART bus system runs near the subdivisions, giving residents easy access around the metroplex. Total Return Assumes 10% Appreciation, 6.5% Interest, 30 Year Amortization, and 60% Loan to Cost Ratio

8 Floor Plan and Rendering 7 Plan: Dallas 1740 Plan: Dallas 1685 are and may differ slightly

9 Interior Views 8

10 South Oak Development % Interest, 30 Year

11 All information within this presentation is deemed to be correct at the time of going to inclusion, but Grosvenor Property Marketing Ltd their subsidiaries and partners, are not be held responsible for errors, omissions or incorrect information due to information from 3rd party sources that are out of our control. Images used in this presentation are for marketing purposes only. This presentation is intended as general information only and must not be relied upon for any particular purpose. The information contained in this presentation is not comprehensive. Grosvenor Property Marketing Ltd have made all reasonable efforts to ensure that all information provided is accurate at the time of inclusion; however, there may be inadvertent and / or occasional errors. Grosvenor Property Marketing Ltd make no representations or warranties about the information, including any hypertext links or any other items used either directly or indirectly and reserves the right to make changes and corrections at any time, without notice. Grosvenor Property Marketing Ltd their subsidiaries and partners, accepts no liability for any inaccuracies or omissions in this presentation and any decisions based on information contained are the sole responsibility of the individual. Grosvenor Property Marketing Ltd accept no liability for any direct, special, indirect, or consequential damages, or any other damages of whatsoever kind resulting from whatever cause through the use of any information obtained either directly or indirectly from this presentation or any of our company websites.