Target LandAcquisition Strategy

Good Life HP’s land investments will target areas of active campus growth,opportunity zones, and job growth directly in the path of development activity, and mature enough for development within a two to four year time frame.

Land investments will primarily focus on high quality student housing and workf force apartment sites in need of capital infusion. The investments will also target notes, JV opportunities, GP sponsor equity positions and other structures on a case by case basis. The firm’s general land acquisition criteria include:

• Market: Arizona, California, Nevada, Texas, Utah, and Washington.

• Transaction Size: Urban land $5-50 million

• Location: Within 0.25 mile of any major University campus (20,000+ enrollment) and strong job growth sub markets.

• Criteria: Core site within walking distance to major university campuses, job growth centers, or opportunity zones that will benefit from development or redevelopment

• Investment Hold Period: 5 to 10 years

• Capital Structure: All land acquisitions will be all cash purchases. No leverage.

• Investment Type: Fee simple, performing/non performing loans, mezzanine debt, partnership interests, loan assumptions, multi-property portfolios and REO inventory

• Broker Relationships: Good Life HP will provide fee protection to brokers that bring off market transactions to the firm and will give first priority for the re-sale, leasing and management services of brokerage firms that procure transactions for the firm (at customary local market rates).