230-unit apartment community on approximately 1.615 acres, offering studio, 1-, 2-, and 3-bedroom apartment units. It consists of one building. Unit amenities include soft-close cabinetry, quartz countertops, premium appliances, ceiling fans, oversized showers, soaking tubs, double vanities, custom walk-in closets, 9’– 11’ ceilings, and built-in desks & bookshelves. Community amenities include prime Tuscan Village location, resident lounge with gourmet entertaining kitchen and modern workspaces, three resort-style courtyards, outdoor pool table, cozy firepit seating, grilling stations, open air dining, cutting edge fitness center, dog park, smart package room, EV charging stations.

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.”