ID PROPERTY UNITS1 Lakewalk at Hamlin 3162 Hub on Campus Orlando, The 2293 Station at Alafaya, The 1774 Maitland Station, The 2935 Integra 360 3606 Springs at Tapestry 2887 Solstice 3098 Altis Shingle Creek 3829 Urbana Phase II 13310 Broadstone Winter Park 26811 Tiffany at Maitland West, The 31612 Lake Nona Ariel 34813 Vernazza 25614 Addison at Windermere, The 31615 Pendana at West Lakes 20016 Bainbridge at Nona Place 28817 Alexander at Sabal Point 28618 Strand, The 27919 Ancora 289

Total Lease-Up 5,33320 Bainbridge Grande Pines 32221 Creative Village 12722 29 Palms at City Center 48023 Novel Lucerne 37524 304 Lake Avenue 23725 Integra Sunrise 30026 Ascend at 95 5227 Blake, The 27928 Blue Beach Club Redevelopment 7929 Modera Central 35030 Princeton at College Park, The 20631 Pixon 20132 Addison at Universal, The 34433 Drake at Midtown 26434 Maitland City Centre 24435 Dwell Phase II 81

Total Under Construction 3,94136 Sunbridge 165037 401 South Rosalind Avenue 31838 500 North Orange Avenue 35039 520 Church 36440 Radius 32041 Alexan at Audubon 35642 Yard at Ivanhoe, The 63043 Estates at Maitland, The 30044 Shoppes at Trelago, The 39945 Town Maitland 39946 Vintage at Winter Park 33247 BellaNova at JubiLee Park 31248 Orlando Corporate Centre 26049 Ecco on Orange 30050 North Keller Road & Maitland Blvd 30051 9200 Turkey Lake Road 28652 Niido Powered by Airbnb 32453 Palm Pkwy 25054 Serenity at Flamingo Crossings 30055 Vista Oaks 35056 Education Village 40057 Narcoossee Cove 22558 Oasis at Moss Park Phase II, The 30059 Reserve at Alafaya Trail Tract 8B, The 27560 Reserve at Avalon, The 175061 River Run at Valencia 11462 Dwell at Oviedo 29663 Reagan Center 82764 Heritage Park 23565 Happy Trail & Sinclair Road 12066 Millennium at Citrus Ridge 32667 Vineland Landings 20068 Hamilton at Lakeside, The 10869 Mosaic @ Lake Toho 260

70 Hancock 30671 Lofts at South Lake 14472 Highline 17173 Amelia Court at Creative Village 256

Total Prospective 15,54074 Vue at Clermont, The 10075 845 North Magnolia Avenue 20076 City Centre 21577 Novel Lucerne Phase II 30078 Orange Avenue 18479 Orlando Central 45080 Tribune 31881 Tribune II 42882 Broadstone Lakehouse 28883 Golden Sparrow 86784 Orange Avenue 32585 Yard at Ivanhoe Phase II, The 17486 GrandeVille at JubiLee Park Phase III 39287 Sandlake Palazzo 18088 Sandlake Station 19689 Grand National 26090 Lake Betty 40891 Maitland West Phase II 28592 Packing District, The 100093 Fifty West 27594 Inspiration 9095 Apopka City Center 8296 Avian Pointe 75097 Marden Ridge Phase II 22898 Flamingo Crossings East 130099 Flamingo Crossings West 1300100 O-Town West & O-Town Village 100101 Rialto II 297102 SunRail Senior 200103 Retreat at Orlando, The Phase II 100104 Seminole Avenue 50105 Alta Seminole 253106 New Century Town Center 350107 Preserve, The 240108 First Street Station 292109 Monroe Place 102110 View @ Lake Monroe, The 300111 Isles of Bellalago 50112 Ovation Town Center 500113 Cameron Preserve Phase II 90114 SunRail Osceola 238115 SunRail Osceola Phase II 112116 Minneola Hills 297117 Lakeview Commons 72118 Spring Lake Road 110119 Venetian Isles 100120 Luna Trail 86121 Harmony at Pinewood 86122 Villages at West Lakes Phase II, The 120

Total Prospective 14,740

a Berkshire Hathaway and Leucadia National company

Orlando New Construction & Proposed Multifamily Projects

Lease-Up

Under Construction

Planned

Prospective

LEGEND

1Q18

Source: Yardi Matrix2 mi

106

116

9596

87

97

9394

105

115

88

90

89

83 92

75

76

74

82

79

108

118

110

120

9899

100

102

112

101

111

85103

113

107

117

109119

121

104

114

84

8081

91

1222177

78

34

33

35

31

32

2

310

4

7

815

18

14

17

136

9

1

16

19

12

11

24

23

26

30

25

20

27

22

29

28

5

86 4748

64

63

46

52

51

65

53

54

49

50

66

67 68

69

70

56

55

4344

42

5960

36

41

62

61

45

72

73

3739

38

40

57

58

71

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

1 Lakewalk at Hamlin 14012 Shoreside Way Winter Garden FL 34787 Lease Up 316 Lake Buena Vista 12/15/2016 08/31/2018 12/01/20172 Hub on Campus Orlando, The 12401 East Colonial Drive Orlando FL 32826 Lease Up 229 University Park 10/25/2017 08/31/2018 12/01/20173 Station at Alafaya, The 180 Park Road Oviedo FL 32765 Lease Up 177 University Park 10/27/2017 08/31/2018 10/01/20174 Maitland Station, The 955 North Orlando Avenue Maitland FL 32751 Lease Up 293 Winter Park/Maitland 03/01/2016 08/31/2018 07/01/20175 Integra 360 1700 Integra Land Way Winter Springs FL 32708 Lease Up 360 Longwood 01/03/2017 08/31/2018 06/01/20176 Springs at Tapestry 2601 Pledge Road Kissimmee FL 34741 Lease Up 288 West Kissimmee 10/01/2016 07/31/2018 09/01/20177 Solstice 7510 Lake Street Orlando FL 32821 Lease Up 309 Lake Bryan 01/01/2017 06/30/2018 12/05/20178 Altis Shingle Creek 4350 Osceola Trail Road Kissimmee FL 34746 Lease Up 382 West Kissimmee 10/18/2016 06/30/2018 08/01/20179 Urbana Phase II 4404 Urbana Drive Orlando FL 32837 Lease Up 133 Hunter's Creek 01/01/2016 06/30/2018 06/01/201710 Broadstone Winter Park 1305 Morgan Stanley Avenue Winter Park FL 32789 Lease Up 268 Winter Park/Maitland 04/03/2017 05/31/2018 12/01/201711 Tiffany at Maitland West, The 9301 Summit Centre Way Orlando FL 32810 Lease Up 316 Lockhart 03/01/2016 05/31/2018 11/14/201712 Lake Nona Ariel 14001 Benvolio Circle Orlando FL 32824 Lease Up 348 Hunter's Creek 12/01/2016 05/31/2018 05/01/201713 Vernazza 1790 Manarola Street Kissimmee FL 34741 Lease Up 256 West Kissimmee 12/01/2016 04/30/2018 03/01/201814 Addison at Windermere, The 13644 Tortona Lane Windermere FL 34786 Lease Up 316 Lake Buena Vista 04/01/2017 04/30/2018 01/11/201815 Pendana at West Lakes 2021 Orange Center Blvd Orlando FL 32805 Lease Up 200 Holden Heights 06/01/2017 04/30/2018 01/01/201816 Bainbridge at Nona Place 12855 Sunstone Avenue Orlando FL 32832 Lease Up 288 Lake Nona 05/01/2017 04/30/2018 10/01/201717 Alexander at Sabal Point 2700 Sabal Alexander Circle Longwood FL 32779 Lease Up 286 Weathersfield 09/01/2016 04/30/2018 08/01/201718 Strand, The 429 East Mitchell Hammock Road Oviedo FL 32765 Lease Up 279 Oviedo 12/06/2016 04/30/2018 07/12/201719 Ancora 10107 Ancora Circle Orlando FL 32821 Lease Up 289 Lake Bryan 12/28/2015 04/30/2018 02/15/2017

TOTAL LEASE-UP 5,333

20 Bainbridge Grande Pines 11699 Westwood Blvd Orlando FL 32821 Under Construction 322 Lake Bryan 08/01/2017 01/31/202021 Creative Village West Livingston Street & North Terry Avenue Orlando FL 32801 Under Construction 127 Pine Hills 01/01/2018 08/31/201922 29 Palms at City Center 251 Main Street Ocoee FL 34761 Under Construction 480 Gotha/Orlovista 12/22/2017 06/30/201923 Novel Lucerne 733 Main Lane Orlando FL 32801 Under Construction 375 Downtown Orlando 03/01/2017 01/31/201924 304 Lake Avenue 304 Lake Avenue Maitland FL 32751 Under Construction 237 Winter Park/Maitland 09/01/2017 01/31/201925 Integra Sunrise 4701 Luminous Loop Kissimmee FL 34746 Under Construction 300 West Kissimmee 01/22/2018 01/31/201926 Ascend at 95 26 Norfolk Pkwy West Melbourne FL 32904 Under Construction 52 Palm Bay 03/19/2018 01/31/201927 Blake, The 201 Michael Blake Blvd Winter Springs FL 32708 Under Construction 279 Longwood 10/27/2017 12/31/201828 Blue Beach Club Redevelopment 2825 South Washington Avenue Titusville FL 32780 Under Construction 79 Titusville 03/22/2018 12/31/201829 Modera Central 150 East Central Blvd Orlando FL 32801 Under Construction 350 Downtown Orlando 10/15/2016 10/31/201830 Princeton at College Park, The 646 West Smith Street Orlando FL 32804 Under Construction 206 Pine Hills 10/01/2016 09/30/201831 Pixon SEC Lake Nona Blvd & Tavistock Lakes Blvd Orlando FL 32827 Under Construction 201 Lake Nona 05/15/2017 09/30/201832 Addison at Universal, The 9707 Pow Mia Memorial Drive Orlando FL 32819 Under Construction 344 Florida Center 08/01/2017 06/30/201833 Drake at Midtown 114 Longwood Lake Mary Road Lake Mary FL 32746 Under Construction 264 Lake Mary 06/01/2017 06/30/201834 Maitland City Centre 111 South Orlando Avenue Maitland FL 32751 Under Construction 244 Winter Park/Maitland 10/28/2016 05/31/201835 Dwell Phase II Maitland Summit Blvd & Summit Park Drive Orlando FL 32810 Under Construction 81 Lockhart 01/01/2017 04/30/2018

TOTAL CONSTRUCTION 3,941

36 Sunbridge State Route 528 & Dallas Blvd Orlando FL 32832 Planned 165037 401 South Rosalind Avenue 401 South Rosalind Avenue Orlando FL 32801 Planned 318 Downtown Orlando38 500 North Orange Avenue 500 North Orange Avenue Orlando FL 32801 Planned 350 Downtown Orlando39 520 Church 555 Mariposa Street Orlando FL 32801 Planned 364 Downtown Orlando40 Radius East Livingston Street & North Rosalind Avenue Orlando FL 32801 Planned 320 Downtown Orlando41 Alexan at Audubon 3710 Maguire Blvd Orlando FL 32803 Planned 356 Colonial Town42 Yard at Ivanhoe, The 1605 Alden Road Orlando FL 32803 Planned 630 Colonial Town43 Estates at Maitland, The 400 North Orlando Avenue Maitland FL 32751 Planned 300 Winter Park/Maitland44 Shoppes at Trelago, The 1070 Maitland Blvd Maitland FL 32751 Planned 399 Winter Park/Maitland45 Town Maitland West Lake Faith Drive & Maitland Blvd Maitland FL 32751 Planned 399 Winter Park/Maitland46 Vintage at Winter Park 4460 North Goldenrod Road Winter Park FL 32792 Planned 332 Goldenrod47 BellaNova at JubiLee Park 6850 Merryvale Lane Orlando FL 32822 Planned 312 Vista Park48 Orlando Corporate Centre 6201 Corporate Centre Blvd Orlando FL 32822 Planned 260 Vista Park49 Ecco on Orange 3135 South Orange Avenue Orlando FL 32806 Planned 300 Edgewood50 North Keller Road & Maitland Blvd 2270 Shadow Lane Orlando FL 32810 Planned 300 Lockhart51 9200 Turkey Lake Road 9200 Turkey Lake Road Orlando FL 32819 Planned 286 Lake Buena Vista52 Niido Powered by Airbnb Epcot Center Drive & World Drive Orlando FL 32830 Planned 324 Lake Buena Vista53 Palm Pkwy Daryl Carter Pkwy & Palm Pkwy Orlando FL 32836 Planned 250 Lake Buena Vista54 Serenity at Flamingo Crossings Avalon Road & Flamingo Crossings Blvd Orlando FL 32830 Planned 300 Lake Buena Vista55 Vista Oaks Perrihouse Acres Lane & Winter Garden Vineland Road Orlando FL 32836 Planned 350 Lake Buena Vista56 Education Village Narcoossee Road & Tyson Road Orlando FL 32832 Planned 400 Lake Nona57 Narcoossee Cove Kirby Smith Road & Narcoossee Road Orlando FL 32832 Planned 225 Lake Nona58 Oasis at Moss Park Phase II, The 10955 Moss Park Road Orlando FL 32832 Planned 300 Lake Nona59 Reserve at Alafaya Trail Tract 8B, The 12530 Innovation East Drive Orlando FL 32828 Planned 275 Stoneybrook60 Reserve at Avalon, The South Alafaya Trail & Innovation Way Orlando FL 32828 Planned 1750 Stoneybrook61 River Run at Valencia 113 South Econlockhatchee Trail Orlando FL 32835 Planned 114 Stoneybrook62 Dwell at Oviedo NWC West Broadway Street & Oviedo Mall Blvd Oviedo FL 32765 Planned 296 Oviedo

Source: Yardi Matrix

Orlando New Construction and Proposed Multifamily Projects

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

63 Reagan Center 4311 South Orlando Drive Sanford FL 32773 Planned 827 Elder Springs64 Heritage Park West Seminole Blvd & Walnut Crest Run Sanford FL 32771 Planned 235 Lake Monroe65 Happy Trail & Sinclair Road Happy Trail & Sinclair Road Kissimmee FL 34747 Planned 120 Celebration66 Millennium at Citrus Ridge West Orange Lake Blvd & US Highway 192 Kissimmee FL 34747 Planned 326 Celebration67 Vineland Landings 2015 Old Vineland Road Kissimmee FL 34746 Planned 200 West Kissimmee68 Hamilton at Lakeside, The SWC Bermuda Lakes Lane & North John Young Pkwy Kissimmee FL 34741 Planned 108 East Kissimmee69 Mosaic @ Lake Toho Lakeshore Blvd & Ruby Avenue Kissimmee FL 34741 Planned 260 East Kissimmee70 Hancock Hancock Road & State Road 50 Clermont FL 34711 Planned 306 Clermont71 Lofts at South Lake 865 Oakley Seaver Drive Clermont FL 34711 Planned 144 Clermont72 Highline SWC Grant Place & East New Haven Avenue Melbourne FL 32901 Planned 171 Palm Bay73 Amelia Court at Creative Village NEC West Amelia Street & North Parramore Avenue Orlando FL 32805 Planned 256 Pine Hills

TOTAL PLANNED 14,413

74 Vue at Clermont, The Giovani Blvd & Old Hwy 50 West Clermont FL 34713 Prospective 10075 845 North Magnolia Avenue 845 North Magnolia Avenue Orlando FL 32803 Prospective 200 Downtown Orlando76 City Centre 205 East Central Blvd Orlando FL 32801 Prospective 215 Downtown Orlando77 Novel Lucerne Phase II NWC West Gore Street & South Orange Avenue Orlando FL 32801 Prospective 300 Downtown Orlando78 Orange Avenue 944 South Orange Avenue Orlando FL 32806 Prospective 184 Downtown Orlando79 Orlando Central 110 West Jefferson Street Orlando FL 32801 Prospective 450 Downtown Orlando80 Tribune 501 North Orange Avenue Orlando FL 32801 Prospective 318 Downtown Orlando81 Tribune II 501 North Orange Avenue Orlando FL 32801 Prospective 428 Downtown Orlando82 Broadstone Lakehouse North Ivanhoe Road & North Orange Road Orlando FL 32804 Prospective 288 Colonial Town83 Golden Sparrow North Orange Avenue & Princeton Street Orlando FL 32804 Prospective 867 Colonial Town84 Orange Avenue North Orange Avenue & East Rollins Street Orlando FL 32804 Prospective 325 Colonial Town85 Yard at Ivanhoe Phase II, The 1605 Alden Road Orlando FL 32803 Prospective 174 Colonial Town86 GrandeVille at JubiLee Park Phase III 6850 Merryvale Lane Orlando FL 32822 Prospective 392 Vista Park87 Sandlake Palazzo West Lancaster Road & Winegard Road Pine Castle FL 32809 Prospective 180 Belle Isle88 Sandlake Station 7803 South Orange Avenue Orlando FL 32809 Prospective 196 Belle Isle89 Grand National International Drive & West Oak Ridge Road Orlando FL 32819 Prospective 260 Florida Center90 Lake Betty 2695 South Orange Blossom Trail Apopka FL 32703 Prospective 408 Lockhart91 Maitland West Phase II 8805 Albemarle Road Orlando FL 32810 Prospective 285 Lockhart92 Packing District, The North Orange Blossom Trail & Princeton Street Orlando FL 32804 Prospective 1000 Pine Hills93 Fifty West SWC West Colonial Drive & Maguire Road Ocoee FL 34761 Prospective 275 Gotha/Orlovista94 Inspiration Florida's Turnpike & Maguire Road Ocoee FL 34761 Prospective 90 Gotha/Orlovista95 Apopka City Center State Route 436 & U.S. Route North 441 Apopka FL 32704 Prospective 82 Apopka/Piedmont96 Avian Pointe 2771 Lust Road Apopka FL 32703 Prospective 750 Apopka/Piedmont97 Marden Ridge Phase II 1501 Marden Road Apopka FL 32703 Prospective 228 Apopka/Piedmont98 Flamingo Crossings East Flagler Avenue & Flamingo Crossings Blvd Winter Garden FL 34787 Prospective 1300 Lake Buena Vista99 Flamingo Crossings West Flagler Avenue & Flamingo Crossings Blvd Winter Garden FL 34787 Prospective 1300 Lake Buena Vista100 O-Town West & O-Town Village Central Florida Pkwy & Palm Pkwy Orlando FL 32819 Prospective 100 Lake Buena Vista101 Rialto II NWC Majorca Place & Turkey Lake Road Orlando FL 32819 Prospective 297 Lake Buena Vista102 SunRail Senior Mary Louis Lane & South Orange Avenue Orlando FL 32837 Prospective 200 Hunter's Creek103 Retreat at Orlando, The Phase II 11037 Retreat Avenue Orlando FL 32817 Prospective 100 University Park104 Seminole Avenue Princess Palm Place & Seminole Avenue Oviedo FL 32765 Prospective 50 Oviedo105 Alta Seminole Aloma Avenue & Tuskawilla Road Oviedo FL 32765 Prospective 253 Red Bug Lake106 New Century Town Center Primera Blvd & Rinehart Road Lake Mary FL 32746 Prospective 350 Lake Mary107 Preserve, The 1010 West Lake Mary Blvd Sanford FL 32773 Prospective 240 Elder Springs108 First Street Station 200 West 1st Street Sanford FL 32771 Prospective 292 Sanford109 Monroe Place 2306 West 1st Street Sanford FL 32771 Prospective 102 Lake Monroe110 View @ Lake Monroe, The 2485 NW US Highway 17-92 Sanford FL 32771 Prospective 300 Lake Monroe111 Isles of Bellalago Isles of Bellalago Drive & South Poinciana Blvd Kissimmee FL 34746 Prospective 50 Celebration112 Ovation Town Center South Lake Wilson Road & Osceola Polk Line Road Davenport FL 33896 Prospective 500 Celebration113 Cameron Preserve Phase II West Irlo Bronson Memorial Hwy & Yates Road Kissimmee FL 34741 Prospective 90 West Kissimmee114 SunRail Osceola South Orange Avenue & East Osceola Pkwy Kissimmee FL 34744 Prospective 238 East Kissimmee115 SunRail Osceola Phase II South Orange Avenue & East Osceola Pkwy Kissimmee FL 34744 Prospective 112 East Kissimmee116 Minneola Hills Fosgate Road & North Hancock Road Minneola FL 34715 Prospective 297 Clermont117 Lakeview Commons North Grove Street & East McDonald Avenue Eustis FL 32726 Prospective 72 Mt Dora118 Spring Lake Road 2307 Spring Lake Road Fruitland Park FL 34731 Prospective 110 Leesburg119 Venetian Isles East Dixie Avenue & South Lake Street Leesburg FL 34748 Prospective 100 Leesburg120 Luna Trail South Deleon Avenue & Sycamore Street Titusville FL 32780 Prospective 86 Titusville121 Harmony at Pinewood Mogra Circle NE & Pinewood Drive NE Palm Bay FL 32905 Prospective 86 Palm Bay122 Villages at West Lakes Phase II, The 2205 Orange Center Blvd Orlando FL 32805 Prospective 120 Holden Heights

TOTAL PROSPECTIVE 14,740

TOTAL ORLANDO 38,427

Source: Yardi Matrix

Orlando New Construction and Proposed Multifamily Projects

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