Waterford Place is a multifamily garden-style apartment development located at 101 Shore Lake Drive, Greensboro, North Carolina 27455 (the “Property”). Developed in 1997, the Property consists of 20.64 acres of land upon which 20 residential buildings are situated, housing a total of approximately 277,296 rentable square feet across 240 apartment units (the “Apartment Units”). The Property includes amenities such as a clubhouse building with fitness center, business center,  and package room, maintenance building, mailbox building, pool, car wash station, playground, tennis court, and dog park.

The Sponsor’s business plan for the Property and its investment objectives for the Interests will be to (i) preserve the Purchasers’ capital investment, (ii) make monthly distributions from Master Lease rent payments, which may be partially tax deferred as a result of depreciation and amortization expenses, (iii) capitalize on potential rental premiums afforded by the easy access to major economic drivers, robust development and thriving economic conditions in the local area, (iv) increase the net operating income of the Property through growth in rental rates, maintenance of high renter demand and occupancy, implementation and maintenance of expense controls by professional property management, and institutional-quality asset management, (v) add value and improve asset quality through selective minor and non-structural capital improvements, thereby increasing rent and renter demand, and (vi) sell the Property at a profit within approximately five to 10 years. See “Business Plan.”