265-unit apartment community on approximately 11.68 acres, offering 1-, 2-, and 3-bedroom apartment units. It consists of four residential buildings, five garage buildings, one maintenance garage/car wash building. Cincinnati is among the top markets in the country for rent growth, as modest construction activity during the pandemic and balanced population growth compared to other regions in the country helped maintain healthy rent growth over recent quarters.

The principal objectives of the Trust are to (i) distribute to the Holders rent, after payment of debt service and expenses, at varying levels of the purchase price paid by the Holders for the Interests during the first 10 years of ownership, (ii) amortize debt during a portion of the ownership of the Project, (iii) preserve the capital of the Holders and (iv) prepare the Project to be sold in approximately 10 years. There can be no assurance that any of these objectives will be achieved. See “Risk Factors.”