Student Housing Acquisition Criteria

GoodLife HP is actively acquiring appropriately-located student housing apartment communities in the Western United States. The firm’s general acquisition criteria include:

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

• Property Size: 50-500 units

• Location: Within 0.5 mile of any major University campus (20,000+ enrollment)

• Criteria: Core/Core plus, and value add assets with under market rents and operational upside within walking distance to a major university campuses that will benefit from renovations/conversions, rebranding, and targeted marketing strategies.

• Key School Markets: USC, UCLA, UC Berkeley, UC Davis, UC Irvine, San Jose/San Diego/San Francisco State University, CalState Fullerton/Northridge/Long Beach/Los Angeles/Pomona/Sacramento, UNLV (Las Vegas), University of Washington, UT Austin, UT Arlington, Utah Valley University, Brigham Young University, Portland State University, University of Colorado Boulder and The University of British Columbia.

• Investment Hold Period: 3 to 5 years

• Investment Size: $25-200 million

• Financing: Ability to obtain new financing or assume existing debt through existing established lending sources

• Building Type: Garden-Style, Low/Mid/High-Rise, Purpose-Built Student Housing, Mixed-Use Apartments

• Property Class: Class A and Class B product; will evaluate Class C product in select circumstances