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2300 MAITLAND CENTER PARKWAYSUITE 212

MAITLAND, FL 32751(407) 660-0186

CharlesWayneConsulting.com

Copyright 2014

ORLANDO APARTMENT TRENDS:2014 Q3

CHARLES WAYNECONSULTING, INC.

APARTMENT DRIVERS: TRANSPORTATION

INTERSTATE 4 REDEVELOPMENT

ALL ABOARD FLORIDA

SUNRAIL

APARTMENT DRIVERS: MEDICAL CITY

VA MEDICAL CENTER SANFORD-BURNHAM INSTITUTE

UF RESEARCH INSTITUTE NEMOURS UCF COLLEGE OF MEDICINE

APARTMENT DRIVERS: ATTRACTIONS

WDW: DISNEY SPRINGS WDW: FROZEN

WDW: STAR WARSWDW: AVATAR

APARTMENT DRIVERS: ATTRACTIONS

UNIVERSAL: DIAGON ALLEY SEAWORLD: KILLER WHALE HABITAT

APARTMENT DRIVERS: DOWNTOWN

CITRUS BOWL

DR. PHILLIPS CENTER FOR THE PERFORMIONG ARTS

CREATIVE VILLAGEMLS SOCCER STADIUM

MAGIC ENTERTAINMENT COMPLEX

ORLANDO MSA EMPLOYMENT

(thousands)

NOTE: Not seasonally adjusted. By place of work.SOURCE: Florida Research & Economic Information Database; Labor Market Statistics, Local Area Unemployment Statistics Program

58,000 NEWJOBS

SOURCE: Charles Wayne Consulting, Inc.

A

BC

DEF

G

HI

JK

Sanford / Lake MaryLongwood / Altamonte SpringsCasselberry / Winter Springs / Oviedo

L

Southwest Orange CountyKissimmee / St. CloudLake / Northeast Polk Counties

ApopkaWinter Garden / Ocoee / West OrangeNorth Orlando / Winter Park / MaitlandSouth OrlandoEast Orange County / UCFSouth Orange County

E F

GH

I

J

D

METRO ORLANDO AREA

A

CB

K

L

L

L

SOURCE: Charles Wayne Consulting, Inc.

NOTE: Based on RMR qualified projects with 50+ units. Includes Orange, Seminole, Osceola, Lake and Northeast Polk Counties.

RENTABLE UNITS

ANNUALGAIN:10,901

SOURCE: Charles Wayne Consulting, Inc.

L

L

E

I

J

K

L

CB

D

RENTABLE UNITS: TOP 3 SUBAREAS

A

H

G

H

F

G

F

33,34027,83915,598

MARKETSHARE:

46%

SOURCE: Charles Wayne Consulting, Inc.

NOTE: Based on RMR qualified projects with 50+ units. Includes Orange, Seminole, Osceola, Lake and Northeast Polk Counties.

UNITS UNDER CONSTRUCTION

6,710

SOURCE: Charles Wayne Consulting, Inc.

L

L

E

J

K

L

CB

D

A

H

G

F

UNIT UNDER CONSTRUCTION: TOP 3 SUBAREAS

I

F

I

H

1,8181,623 790

MARKETSHARE:

63%

SOURCE: Charles Wayne Consulting, Inc.

4,417ANNUAL AVERAGE

ABSORPTION

NOTE: Based on RMR qualified projects with 50+ units. Includes Orange, Seminole, Osceola, Lake and Northeast Polk Counties.

ANNUAL ABSORPTION

7,131

SOURCE: Charles Wayne Consulting, Inc.

I

A

D

ANNUAL ABSORPTION: TOP 3 SUBAREAS

B C

E

GH

K

L

L

L

J

F

H

F

J

1,6871,561 1,103

MARKETSHARE:

61%

SOURCE: Charles Wayne Consulting, Inc.

NOTE: Based on RMR qualified projects with 50+ units. Includes Orange, Seminole, Osceola, Lake and Northeast Polk Counties.

OCCUPANCY

95.8%

SOURCE: Charles Wayne Consulting, Inc.

F

I

A

D

OCCUPANCY

B C

E

GH

K

L

L

L

J

SUBAREASWITH

95%+

OCCUPANCY

SOURCE: Charles Wayne Consulting, Inc.

NOTE: Based on RMR qualified projects with 50+ units. Includes Orange, Seminole, Osceola, Lake and Northeast Polk Counties.

DEMAND VS. SUPPLY DYNAMICS

7,131

5,901

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CHARLES WAYNECONSULTING, INC.

Founded in 1982, Charles Wayne Consulting, Inc. (CWC) offers a broad range of research, consulting and advisory services to the real estate and financial services communities. With corporate offices located in Maitland, the firm's team of professional consultants and analysts work with clients and projects located throughout Florida. CWC services are applied to pre-development planning for new projects as well as to existing developments seeking improved performance or a new direction. The firm’s clients include national home builders, apartment developers, land developers, lending institutions and investors.

CWC’s experience spans market segments from first-time buyers to active adults, communities from stand-alone subdivisions to large-scale master planned projects with world class club facilities, and products from single-family homes, rental apartments, townhomes and condominiums to retirement, short-stay rentals and seasonal resort residences. The firm has been involved in development programming for over 500,000 residential units throughout Florida and has provided consulting on projects from high-rises on one acre to 10,000-acre master-planned communities. CWC’s work here in Orlando has included Celebration, Baldwin Park, Avalon Park, Hunter’s Creek and about 90 apartment complexes.

CWC is regarded as an industry leader for its project tracking system for for-sale communities, amenities, lot inventories, construction starts, units under construction, model types, prices, unit closings and closing prices. A similar approach is applied to rental apartment communities in terms of project characteristics, amenities, product mix, unit sizes, rents and occupancies. A state-of-the-art computerized database is maintained for 160 townhomes and condominium projects, 600 single-family communities, and 650 apartment complexes. The primary research undertaken by CWC is recognized as the authoritative source for Central Florida and as a national standard for quality.

2300 MAITLAND CENTER PARKWAY / SUITE 212 / MAITLAND, FL 32751 / OFFICE: (407) 660-0186 / WEBSITE: www.CharlesWayneConsulting.com