Detroit New Construction & Proposed Multifamily ProjectsID PROPERTY UNITS1 Montclair at Partridge Creek 6132 Orchard Brook 2743 Lakeside Boulevard Townhomes 924 River Birch Bend 1405 Encore at Ashby Preserve 756 Starkweather Lofts 937 Abbey Ridge Apartment Homes 1408 28 Grand 2189 Orleans Landing 27810 Parkways, The 14811 Peninsula Ridge 138

Total Lease-Up 2,20912 Elton Park 15113 Ferndalehaus Lofts 9014 Philip Houze 10615 Wellington Square 11116 Mosaic of Auburn Hills 8117 Woodward Avenue 5018 Plaza, The 7219 Farwell Building 82

Total Under Construction 74320 150 BagleyRedevelopment 14821 City Club 28822 Detroit Free Press Building, The 10023 Gabriel Houze 11024 Hastings Place 6025 Hudson's Building Site 25026 Shapero Hall 18027 Arena Lofts, The 15328 One Eleven West 8029 Albert Kahn Building Redevelopment 16230 Cass and York 13331 Michigan State Fairgrounds 20032 400 North Main 5633 Harrison Phase II 7634 SoMa 24035 City Center Building 22036 McClure 14037 Beechcrest Phase II 6838 Milford Lofts 10039 City 6040 Abbey Ridge Apartment Homes Phase II 10041 Blossom Ridge 18942 Encore at Deerhill Villas 9243 Worthington Crossing 8644 Brush Park Redevelopment 30345 Eddystone Hotel Redevelopment 10046 Russell Flats, The 8247 Woodward at Midtown, The 11048 Third and Grand 23149 Corner, The 105

Total Planned 4,22250 Gateway Center Building Redevelopment 20051 National Theatre Block 10052 Orleans Landing Phase II 23053 American, The 163

54 Brewster Wheeler Recreation Center Redevel-opment 150

55 Packard Plant Phase III 10056 Sanctuary Homeless Housing, The 7557 Temple Street 10058 Wayne State University Mixed-Use 24859 Jefferson Avenue & Van Dyke Street 6360 Michigan State Fairgrounds Phase II 30061 Elton Park Phases II - IV 25062 Inn At St. Johns Mixed-Use, The 23463 Village at Northville, The 19064 Little Mack Avenue 6065 Royal Oak Mixed - Use 9266 Big Beaver Road 9667 Millennial Place 100

68 Troy Town Center 85069 Maple & Woodward 5070 North Old Woodward & Bates Street 10071 Woodward Avenue 5072 Orchard Mews 20073 Thomas Street 15574 Milford Place Project 10075 Sycamore Glen Phase II 9076 Worthington Crossing Phase II 5877 Brewster - Douglass Site 85078 Midtown West 17579 Sugar Hill 8480 Woodbridge Estates Phase II 80

Total Prospective 5,593

a Berkshire Hathaway and Leucadia National company

Lease-Up

Under Construction

Planned

Prospective

LEGEND

13 4

5

6

2

7

10

11

8 9

3Q17

Source: Yardi Matrix5 mi

16

13

12

1419

18

15

17

20 21

22

23

2425 2627

49

28

29

48

30

31

32

3334

3536

3738

39

40

41

42

43

4445

4647

50 51 52

53

54

55

60

6263

6465

6667

6869

7071

72

73

74

7576

56

57

58 59

61

7778

79

80

ID PROPERTY NAME ADDRESS CITY STATE ZIP OWNER NAME STATUS UNITS SUBMARKET PERMIT DATE FORECASTED COMPLETION DATE START OF RENT-UP

1 Montclair at Partridge Creek 17721 Montage West Clinton Township MI 48038 Moceri Companies Lease-Up 613 Clinton Township - west 09/08/2015 12/31/2018 05/30/2016

2 Orchard Brook 57163 Cypress Street Washington Township MI 48042 Redwood Living Lease-Up 274 Washington\Richmond 06/01/2015 12/31/2018 03/01/2016

3 Lakeside Boulevard Townhomes 14759 Lakeside Blvd North Shelby Township MI 48315 Woodlake Homes Lease-Up 92 Shelby Township 06/01/2015 08/31/2018 02/01/2016

4 River Birch Bend 45800 Beacon Drive Shelby Township MI 48315 Redwood Living Lease-Up 140 Shelby Township 08/01/2015 03/31/2018 08/15/2016

5 Encore at Ashby Preserve 25879 Ashby Drive Harrison Township MI 48045 Fairview Builders Lease-Up 75 Harrison Township 12/01/2015 12/31/2017 06/14/2016

6 Starkweather Lofts 333 Plymouth Road Plymouth MI 48170 Burton-Katzman Lease-Up 93 Canton\Plymouth 01/15/2016 11/30/2017 05/15/2017

7 Abbey Ridge Apartment Homes 211 East Market Street Oxford MI 48371 Burton-Katzman Lease-Up 140 Clarkston\Orion 09/01/2016 10/31/2017 04/21/2017

8 28 Grand 28 Grand River Avenue Detroit MI 48226 Rock Companies Lease-Up 218 Detroit - Downtown 03/07/2016 10/31/2017 02/20/2017

9 Orleans Landing 229 Orleans Street Detroit MI 48207 McCormack Baron Salazar Lease-Up 278 Detroit - Downtown 10/23/2015 09/30/2017 08/31/2016

10 Parkways, The 124 Optimist Road Auburn Hills MI 48326 Moceri Companies Lease-Up 148 Auburn Hills 11/30/2015 09/30/2017 06/01/2016

11 Peninsula Ridge 24881 Redwood Blvd Brownstown MI 48134 Redwood Living Lease-Up 138 Woodhaven\Brownstown 07/01/2015 09/30/2017 03/31/2016

TOTAL LEASE-UP 2,209

12 Elton Park 8th Street & Plum Street Detroit MI 48216 Soave Enterprises Under Construction 151 Detroit - south 07/24/2017 09/30/2018

13 Ferndalehaus Lofts 430 West Nine Mile Road Ferndale MI 48220 Arbor Investment Group Under Construction 90 Royal Oak\Oak Park 10/24/2016 05/31/2018

14 Philip Houze 415 Clifford Street Detroit MI 48226 Barbat Holdings Under Construction 106 Detroit - Downtown 08/29/2016 03/31/2018

15 Wellington Square 59 Seward Avenue Detroit MI 48202 Shelborne Development Under Construction 111 Detroit - New Center 03/20/2017 03/31/2018

16 Mosaic of Auburn Hills 3329 Antigua Drive Auburn Hills MI 48326 Sky Cap Ventures Under Construction 81 Auburn Hills 03/14/2016 01/31/2018

17 Woodward Avenue 6408 Woodward Avenue Detroit MI 48202 Platform, The Under Construction 50 Detroit - New Center 04/30/2017 12/31/2017

18 Plaza, The 3800 Woodward Avenue Detroit MI 48201 Roxbury Group, The Under Construction 72 Detroit - Midtown 04/14/2016 11/30/2017

19 Farwell Building 1249 Griswold Street Detroit MI 48226 Buildtech Limited Under Construction 82 Detroit - Downtown 08/02/2016 10/31/2017

TOTAL UNDER CONSTRUCTION 743

20 150 BagleyRedevelopment 150 Bagley Avenue Detroit MI 48226 Olympia Development of Michigan Planned 148 Detroit - Downtown

21 City Club 1539 Washington Blvd Detroit MI 48226 City Club Apartments Planned 288 Detroit - Downtown

22 Detroit Free Press Building, The 321 West Lafayette Blvd Detroit MI 48226 Bedrock Real Estate Services Planned 100 Detroit - Downtown

23 Gabriel Houze 305 Michigan Avenue Detroit MI 48226 Barbat Holdings Planned 110 Detroit - Downtown

24 Hastings Place 1468 Randolph Street Detroit MI 48226 Jackson, Hiram E. Planned 60 Detroit - Downtown

25 Hudson's Building Site 1206 Woodward Avenue Detroit MI 48226 Bedrock Real Estate Services Planned 250 Detroit - Downtown

26 Shapero Hall 1010 Rivard Street Detroit MI 48207 Loft Place Planned 180 Detroit - Downtown

27 Arena Lofts, The 120 Henry Street Detroit MI 48201 Olympia Development of Michigan Planned 153 Detroit - Midtown

28 One Eleven West 111 Henry Street Detroit MI 48201 Olympia Development of Michigan Planned 80 Detroit - Midtown

29 Albert Kahn Building Redevelopment 7430 2nd Avenue Detroit MI 48202 Platform, The Planned 162 Detroit - New Center

30 Cass and York 445 York Street Detroit MI 48202 Platform, The Planned 133 Detroit - New Center

31 Michigan State Fairgrounds State Fair Avenue & Woodward Avenue Detroit MI 48203 McCormack Baron Salazar Planned 200 Detroit - north

32 400 North Main 400 North Main Street Royal Oak MI 48067 Versa Development Planned 56 Royal Oak\Oak Park

33 Harrison Phase II Knowles Street & East Harrison Avenue Royal Oak MI 48067 Mamou, Habib Putrus Planned 76 Royal Oak\Oak Park

34 SoMa South Main Street & West 10 Mile Road Royal Oak MI 48067 Singh Development Planned 240 Royal Oak\Oak Park

35 City Center Building 888 West Big Beaver Road Troy MI 48084 Unicorp National Developments Planned 220 Troy

36 McClure 3142 McClure Drive Troy MI 48084 Sterling Luxury Estates Planned 140 Troy

37 Beechcrest Phase II 2799 Heron Hills Drive Wolverine Lake MI 48390 Redwood Living Planned 68 Wixom\Walled Lake

38 Milford Lofts 300 East Huron Street Milford MI 48381 Burton-Katzman Planned 100 South Lyon\Milford

39 City 1468 North Rochester Road Rochester MI 48307 Aragona Properties Planned 60 Rochester Hills

40 Abbey Ridge Apartment Homes Phase II 211 East Market Street Oxford MI 48371 Burton-Katzman Planned 100 Clarkston\Orion

41 Blossom Ridge Adams Road & Dutton Road Oakland Township MI 48306 Moceri Companies Planned 189 Clarkston\Orion

42 Encore at Deerhill Villas NEC Deerhill Drive & Dixie Hwy Clarkston MI 48346 Fairview Companies Planned 92 Holly\White Lake

43 Worthington Crossing SWC Highland Road & Bogie Lake Road White Lake Charter Township MI 48383 Redwood Living Planned 86 Holly\White Lake

44 Brush Park Redevelopment Alfred Street & Brush Street Detroit MI 48201 Bedrock Real Estate Services Planned 303 Detroit - Midtown

45 Eddystone Hotel Redevelopment 110 Sproat Street Detroit MI 48201 Olympia Development of Michigan Planned 100 Detroit - Midtown

46 Russell Flats, The 2801 Russell Street Detroit MI 48207 Jonna Luxury Homes Planned 82 Detroit - Midtown

47 Woodward at Midtown, The 3439 Woodward Avenue Detroit MI 48201 Jenkin Construction Planned 110 Detroit - Midtown

48 Third and Grand 2921 West Grand Blvd Detroit MI 48202 Platform, The Planned 231 Detroit - New Center

49 Corner, The 1620 Michigan Avenue Detroit MI 48216 Larson Realty Group Planned 105 Detroit - south

TOTAL PLANNED 4,222

Source: Yardi Matrix

Detroit New Construction & Proposed Multifamily Projects

Source: Yardi Matrix

ID PROPERTY NAME ADDRESS CITY STATE ZIP OWNER NAME STATUS UNITS SUBMARKET PERMIT DATE FORECASTED COMPLETION DATE START OF RENT-UP

50 Gateway Center Building Redevelopment 1101 Washington Blvd Detroit MI 48226 Buildtech Limited Prospective 200 Detroit - Downtown

51 National Theatre Block Farmer Street & Monroe Avenue Detroit MI 48226 Bedrock Real Estate Services Prospective 100 Detroit - Downtown

52 Orleans Landing Phase II Atwater Street & Orleans Street Detroit MI 48207 McCormack Baron Salazar Prospective 230 Detroit - Downtown

53 American, The 408 Temple Street Detroit MI 48201 Olympia Development of Michigan Prospective 163 Detroit - Midtown

54 Brewster Wheeler Recreation Center Redevelop-ment 2900 St. Antoine Street Detroit MI 48201 Detroit Housing Commission Prospective 150 Detroit - Midtown

55 Packard Plant Phase III 1580 Grand Blvd East Detroit MI 48211 Arte Express Detroit Prospective 100 Detroit - Midtown

56 Sanctuary Homeless Housing, The Gratiot Avenue & Mack Avenue Detroit MI 48207 Neighborhood Service Organization Prospective 75 Detroit - Midtown

57 Temple Street 640 Temple Street Detroit MI 48201 400 Monroe Associates Prospective 100 Detroit - Midtown

58 Wayne State University Mixed-Use West Canfield Street & Cass Avenue Detroit MI 48201 Broder & Sachse Real Estate Services Prospective 248 Detroit - Midtown

59 Jefferson Avenue & Van Dyke Street 7903 East Jefferson Avenue Detroit MI 48214Mainstreet Empowerment and Housing Organization

Prospective 63 Detroit - east

60 Michigan State Fairgrounds Phase II State Fair Avenue & Woodward Avenue Detroit MI 48203 McCormack Baron Salazar Prospective 300 Detroit - north

61 Elton Park Phases II - IV Plum Street & 8th Street Detroit MI 48216 Soave Enterprises Prospective 250 Detroit - south

62 Inn At St. Johns Mixed-Use, The 44045 Five Mile Road Plymouth MI 48170 Roman Catholic Archdiocese of Detroit Prospective 234 Canton\Plymouth

63 Village at Northville, The NWC Beck Road & 5 Mile Road Northville MI 48168 REDICO Prospective 190 Canton\Plymouth

64 Little Mack Avenue 2900 Little Mack Avenue Saint Clair Shores MI 48081 Curis Entreprises Prospective 60 St. Claire Shores\Gross Pointe

65 Royal Oak Mixed - Use West 6th Street & South Lafayette Avenue Royal Oak MI 48067 Burton-Katzman Prospective 92 Royal Oak\Oak Park

66 Big Beaver Road Bellingham Drive & East Big Beaver Road Troy MI 48083 Najor Companies Prospective 96 Troy

67 Millennial Place 1300 Livernois Road Troy MI 48083 S.R. Jacobson Companies Prospective 100 Troy

68 Troy Town Center East Big Beaver Road & Livernois Road Troy MI 48083 City of Troy Prospective 850 Troy

69 Maple & Woodward 34952 Woodward Avenue Birmingham MI 48009 Group 10 Management Prospective 50 Bloomfield Hills\Birmingham

70 North Old Woodward & Bates Street North Old Woodward Street & West Maple Road Birmingham MI 48012 City Of Birmingham Prospective 100 Bloomfield Hills\Birmingham

71 Woodward Avenue 34965 Woodward Avenue Birmingham MI 48009 Alden Development Group Prospective 50 Bloomfield Hills\Birmingham

72 Orchard Mews 7100 Orchard Lake Road West Bloomfield MI 48322 Beztak Companies Prospective 200 Farmington Hills\West Bloomfield

73 Thomas Street Thomas Street & Warner Street Farmington MI 48336 Arco Construction Prospective 155 Farmington Hills\West Bloomfield

74 Milford Place Project 505 North Main Street Milford MI 48381 Milford Downtown Development AuthorityProspective 100 South Lyon\Milford

75 Sycamore Glen Phase II 1 Carnegie Way Macomb MI 48042 Redwood Living Prospective 90 Chesterfield\New Baltimore

76 Worthington Crossing Phase II SWC Highland Road & Bogie Lake Road White Lake Charter Township MI 48383 Redwood Living Prospective 58 Holly\White Lake

77 Brewster - Douglass Site 2900 St. Antoine Street Detroit MI 48201 Detroit Housing Commission Prospective 850 Detroit - Midtown

78 Midtown West 901 Selden Street Detroit MI 48201 Hardamon, Roderick A. Prospective 175 Detroit - Midtown

79 Sugar Hill John R Street & Garfield Street Detroit MI 48201 Preservation of Affordable Housing Prospective 84 Detroit - Midtown

80 Woodbridge Estates Phase II 1200 Martin Luther King Jr Blvd Detroit MI 48201 Slavik Management Prospective 80 Detroit - Midtown

TOTAL PROSPECTIVE 5,593

TOTAL DETROIT 12,767

Detroit New Construction & Proposed Multifamily Projects

© 2017 Berkadia Real Estate Advisors LLC. Berkadia® is a trademark of Berkadia Proprietary Holding LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. In California, Berkadia Real Estate Advisors Inc. conducts business under CA Real Estate Broker License #01931050; Vincent B. Norris, CA BRE Lic. # 843890. Berkadia Commercial Mortgage LLC conducts business under CA Finance Lender & Broker Lic. #988-0701; and Berkadia Commercial Mortgage Inc. under CA Real Estate Broker Lic. #01874116. For state licensing details visit: http://www.berkadia.com/legal/licensing.aspx