ID PROPERTY UNITS1 Blake, The 2812 Modera Central 3503 Novel Lucerne 3754 Addison at Windermere, The 3165 Lakewalk at Hamlin 3166 Maitland Station 2937 Maitland City Centre 2448 Hub on Campus Orlando, The 2299 Bainbridge at Nona Place 28810 Station at Alafaya, The 17711 Integra 360 36012 Vernazza 25613 Pendana at West Lakes 20014 Solstice 30915 Broadstone Winter Park 26816 Springs at Tapestry 28817 Altis Shingle Creek 38218 Urbana Phase II 13019 Dwell Phase II 81

Total Lease-Up 5,14320 Yard at Ivanhoe, The 63021 Bainbridge Grande Pines 32222 Millennium at Citrus Ridge 32623 UnionWest at Creative Village 12724 29 Palms at City Center 48025 Alexan at Audubon 35626 Town Trelago 39927 Vineland Landings 20028 Lofts at South Lake 14429 Tract 8B at the Reserve at Alafaya 27530 304 Lake Avenue 23731 Integra Sunrise 30032 Ascend at 95 30033 Vintage at Winter Park 33234 Addison at Universal Boulevard, The 34435 Blue Beach Club Redevelopment 7936 Princeton at College Park, The 20637 Pixon 20138 Drake at Midtown 264

Total Under Construction 5,52239 Sunbridge 165040 401 South Rosalind Avenue 31841 500 North Orange Avenue 35042 520 East 36443 Radius 38944 Estates at Maitland, The 30045 Gem Lake Redevelopment 10046 BellaNova at JubiLee Park 31247 Orlando Corporate Centre 26048 Ecco on Orange 30049 North Keller Road & Maitland Blvd 30050 Azul Sand Lake Vista 26251 Niido Powered by Airbnb 32452 Palm Pkwy 25053 Serenity at Flamingo Crossings 30054 Vista Oaks 35055 Education Village 40056 Narcoossee Cove 22557 Oasis at Moss Park Phase II, The 30058 Reserve at Avalon, The 175059 River Run at Valencia 11460 Dwell at Oviedo 29661 Reagan Center 82762 Heritage Park 23563 Happy Trail & Sinclair Road 12064 Magic Place 25165 Hamilton at Lakeside, The 10866 Mosaic @ Lake Toho 26067 Hancock 30668 Indian Springs 10069 603 Brevard 100

70 Highline 17171 San Filippo 19772 Villages at West Lakes Phase II, The 12073 Amelia Court at Creative Village 256

Total Prospective 12,26574 845 North Magnolia Avenue 20075 City Centre 21576 Golden Sparrow 29077 Golden Sparrow Phase II 28578 Golden Sparrow Phase III 29279 Novel Lucerne Phase II 30080 Orange Avenue 18481 Orlando Central 45082 Tribune 31883 Tribune II 42884 Broadstone Lakehouse 28885 Orange Avenue 32586 Yard at Ivanhoe Phase II, The 17487 GrandeVille at JubiLee Park Phase III 39288 Sandlake Palazzo 18089 Sandlake Station 19690 Grand National 26091 Lake Betty 40892 Maitland West Phase II 28593 Creative Village - Parcel M 39094 Creative Village - Parcel U 10095 Packing District, The 100096 Fifty West 27597 Inspiration 9098 Apopka City Center 8299 Avian Pointe 750100 Marden Ridge Phase II 228101 Flamingo Crossings East 1300102 Flamingo Crossings West 1300103 O-Town West & O-Town Village 100104 Rialto II 297105 SunRail Senior 200106 River Cross Land 500107 Paseo at Collegiate Village, The 350108 Retreat at Orlando, The Phase II 100109 Seminole Avenue 50110 Alta Seminole 253111 New Century Town Center 350112 Preserve, The 240113 First Street Station 292114 Monroe Place 102115 View @ Lake Monroe, The 300116 Isles of Bellalago 50117 Ovation Town Center 500118 Cameron Preserve Phase II 90119 SunRail Osceola 238120 SunRail Osceola Phase II 112121 NeoCity 100122 Minneola Hills 297123 Vue at Clermont, The 100124 Lakeview Commons 72125 Spring Lake Road 110126 Venetian Isles 100127 Luna Trail 86128 Suntree 100129 Harmony at Pinewood 86

Total Prospective 16,160

Orlando New Construction & Proposed Multifamily Projects

Lease-Up

Under Construction

Planned

Prospective

LEGEND

2Q18

Source: Yardi Matrix2 mi

a Berkshire Hathaway and Jefferies Financial Group company

111

122

9899

88

100

9697

110

121

89

91 92

90

95

74

75

123

84

81

113

125

115

127

102101

103

105

117

104

116

86

85

118

112

124

114126

129

128

109

120119

828393

9478

7677

79

40

80

35

3122

27

32

38

8

10

6

7

15

14

17

13

4

12

16

2

3

18

5

19

13

34

26

29

26

23

37

36

20

3033

25

21

2428

111

87

107108

106

9

4647

72

62

61

51

50

52

63

53

48

4549

68

65

66

64

67

55

54

44

58

39

60

59

70

71

69

73

42

72

4143

56

57

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

1 Blake, The 151 Michael Blake Blvd Winter Springs FL 32708 Lease-Up 281 Longwood 10/27/2017 12/31/2018 04/02/20182 Modera Central 125 East Pine Street Orlando FL 32801 Lease-Up 350 Downtown Orlando 10/15/2016 10/31/2018 06/05/20183 Novel Lucerne 733 Main Lane Orlando FL 32801 Lease-Up 375 Downtown Orlando 03/01/2017 09/30/2018 06/04/20184 Addison at Windermere, The 13644 Tortona Lane Windermere FL 34786 Lease-Up 316 Lake Buena Vista 04/01/2017 09/30/2018 01/11/20185 Lakewalk at Hamlin 14012 Shoreside Way Winter Garden FL 34787 Lease-Up 316 Lake Buena Vista 12/15/2016 09/30/2018 12/01/20176 Maitland Station 955 North Orlando Avenue Maitland FL 32751 Lease-Up 293 Winter Park/Maitland 03/01/2016 09/30/2018 07/01/20177 Maitland City Centre 190 Independence Lane Maitland FL 32751 Lease-Up 244 Winter Park/Maitland 10/28/2016 08/31/2018 05/01/20188 Hub on Campus Orlando, The 12401 East Colonial Drive Orlando FL 32826 Lease-Up 229 University Park 10/25/2017 08/31/2018 12/01/20179 Bainbridge at Nona Place 12855 Sunstone Avenue Orlando FL 32832 Lease-Up 288 Lake Nona 05/01/2017 08/31/2018 10/01/201710 Station at Alafaya, The 180 Park Road Oviedo FL 32765 Lease-Up 177 Oviedo 10/27/2017 08/31/2018 10/01/201711 Integra 360 1700 Integra Land Way Winter Springs FL 32708 Lease-Up 360 Longwood 01/03/2017 08/31/2018 06/01/201712 Vernazza 1790 Manarola Street Kissimmee FL 34741 Lease-Up 256 West Kissimmee 12/01/2016 07/31/2018 03/01/201813 Pendana at West Lakes 2021 Orange Center Blvd Orlando FL 32805 Lease-Up 200 Holden Heights 06/01/2017 07/31/2018 01/01/201814 Solstice 7511 Lake Street Orlando FL 32821 Lease-Up 309 Lake Bryan 01/01/2017 07/31/2018 12/05/201715 Broadstone Winter Park 1305 Morgan Stanley Avenue Winter Park FL 32789 Lease-Up 268 Winter Park/Maitland 04/03/2017 07/31/2018 12/01/201716 Springs at Tapestry 2601 Pledge Road Kissimmee FL 34741 Lease-Up 288 West Kissimmee 10/01/2016 07/31/2018 09/01/201717 Altis Shingle Creek 4350 Osceola Trail Road Kissimmee FL 34746 Lease-Up 382 West Kissimmee 10/18/2016 07/31/2018 08/01/201718 Urbana Phase II 4404 Urbana Drive Orlando FL 32837 Lease-Up 130 Hunter's Creek 01/01/2016 07/31/2018 06/01/201719 Dwell Phase II 8700 Maitland Summit Blvd Orlando FL 32810 Lease-Up 81 Lockhart 01/01/2017 06/30/2018 01/01/2018

TOTAL LEASE-UP 5,14320 Yard at Ivanhoe, The 1605 Alden Road Orlando FL 32803 Under Construction 630 Colonial Town 03/01/2018 05/31/202021 Bainbridge Grande Pines 11699 Westwood Blvd Orlando FL 32821 Under Construction 322 Lake Bryan 08/01/2017 01/31/202022 Millennium at Citrus Ridge West Orange Lake Blvd & US Highway 192 Kissimmee FL 34747 Under Construction 326 Celebration 02/01/2018 01/31/202023 UnionWest at Creative Village West Livingston Street & North Terry Avenue Orlando FL 32801 Under Construction 127 Pine Hills 01/01/2018 08/31/201924 29 Palms at City Center 251 Maine Street Ocoee FL 34761 Under Construction 480 Gotha/Orlovista 12/22/2017 06/30/201925 Alexan at Audubon 3710 Maguire Blvd Orlando FL 32803 Under Construction 356 Colonial Town 05/07/2018 05/31/201926 Town Trelago 1070 Maitland Blvd Maitland FL 32751 Under Construction 399 Winter Park/Maitland 01/01/2018 05/31/201927 Vineland Landings 2015 Old Vineland Road Kissimmee FL 34746 Under Construction 200 West Kissimmee 05/16/2018 05/31/201928 Lofts at South Lake 865 Oakley Seaver Drive Clermont FL 34711 Under Construction 144 Clermont 02/01/2018 04/30/201929 Tract 8B at the Reserve at Alafaya 12530 Innovation East Drive Orlando FL 32828 Under Construction 275 Stoneybrook 04/18/2018 03/31/201930 304 Lake Avenue 304 Lake Avenue Maitland FL 32751 Under Construction 237 Winter Park/Maitland 09/01/2017 01/31/201931 Integra Sunrise 4701 Luminous Loop Kissimmee FL 34746 Under Construction 300 West Kissimmee 01/22/2018 01/31/201932 Ascend at 95 26 Norfolk Pkwy West Melbourne FL 32904 Under Construction 300 Palm Bay 03/19/2018 01/31/201933 Vintage at Winter Park 4460 North Goldenrod Road Winter Park FL 32792 Under Construction 332 Goldenrod 04/23/2018 12/31/201834 Addison at Universal Boulevard, The 9707 Pow Mia Memorial Drive Orlando FL 32819 Under Construction 344 Florida Center 08/01/2017 12/31/201835 Blue Beach Club Redevelopment 2825 South Washington Avenue Titusville FL 32780 Under Construction 79 Titusville 03/22/2018 12/31/201836 Princeton at College Park, The 646 West Smith Street Orlando FL 32804 Under Construction 206 Pine Hills 10/01/2016 09/30/201837 Pixon SEC Lake Nona Blvd & Tavistock Lakes Blvd Orlando FL 32827 Under Construction 201 Lake Nona 05/15/2017 09/30/201838 Drake at Midtown 114 Longwood Lake Mary Road Lake Mary FL 32746 Under Construction 264 Lake Mary 06/01/2017 09/30/2018

TOTAL CONSTRUCTION 5,52239 Sunbridge State Route 528 & Dallas Blvd Orlando FL 32832 Planned 165040 401 South Rosalind Avenue 401 South Rosalind Avenue Orlando FL 32801 Planned 318 Downtown Orlando41 500 North Orange Avenue 500 North Orange Avenue Orlando FL 32801 Planned 350 Downtown Orlando42 520 East 555 Mariposa Street Orlando FL 32801 Planned 364 Downtown Orlando43 Radius 333 North Rosalind Avenue Orlando FL 32801 Planned 389 Downtown Orlando44 Estates at Maitland, The 400 North Orlando Avenue Maitland FL 32751 Planned 300 Winter Park/Maitland45 Gem Lake Redevelopment 201 Monroe Avenue Maitland FL 32751 Planned 100 Winter Park/Maitland46 BellaNova at JubiLee Park 6850 Merryvale Lane Orlando FL 32822 Planned 312 Vista Park47 Orlando Corporate Centre 6201 Corporate Centre Blvd Orlando FL 32822 Planned 260 Vista Park48 Ecco on Orange 3135 South Orange Avenue Orlando FL 32806 Planned 300 Edgewood49 North Keller Road & Maitland Blvd 2270 Shadow Lane Orlando FL 32810 Planned 300 Lockhart50 Azul Sand Lake Vista 9200 Turkey Lake Road Orlando FL 32819 Planned 262 Lake Buena Vista51 Niido Powered by Airbnb Epcot Center Drive & World Drive Orlando FL 32830 Planned 324 Lake Buena Vista52 Palm Pkwy Daryl Carter Pkwy & Palm Pkwy Orlando FL 32836 Planned 250 Lake Buena Vista53 Serenity at Flamingo Crossings Avalon Road & Flamingo Crossings Blvd Orlando FL 32830 Planned 300 Lake Buena Vista54 Vista Oaks Perrihouse Acres Lane & Winter Garden Vineland Rd Orlando FL 32836 Planned 350 Lake Buena Vista55 Education Village Narcoossee Road & Tyson Road Orlando FL 32832 Planned 400 Lake Nona56 Narcoossee Cove Kirby Smith Road & Narcoossee Road Orlando FL 32832 Planned 225 Lake Nona57 Oasis at Moss Park Phase II, The 10955 Moss Park Road Orlando FL 32832 Planned 300 Lake Nona58 Reserve at Avalon, The South Alafaya Trail & Innovation Way Orlando FL 32828 Planned 1750 Stoneybrook59 River Run at Valencia 113 South Econlockhatchee Trail Orlando FL 32835 Planned 114 Stoneybrook60 Dwell at Oviedo NWC West Broadway Street & Oviedo Mall Blvd Oviedo FL 32765 Planned 296 Oviedo61 Reagan Center 4311 South Orlando Drive Sanford FL 32773 Planned 827 Elder Springs62 Heritage Park West Seminole Blvd & Walnut Crest Run Sanford FL 32771 Planned 235 Lake Monroe63 Happy Trail & Sinclair Road Happy Trail & Sinclair Road Kissimmee FL 34747 Planned 120 Celebration64 Magic Place Ham Brown Road & South Orange Blossom Trail Kissimmee FL 34746 Planned 251 West Kissimmee65 Hamilton at Lakeside, The SWC Bermuda Lakes Lane & North John Young Pkwy Kissimmee FL 34741 Planned 108 East Kissimmee66 Mosaic @ Lake Toho Lakeshore Blvd & Ruby Avenue Kissimmee FL 34741 Planned 260 East Kissimmee

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

67 Hancock Hancock Road & State Road 50 Clermont FL 34711 Planned 306 Clermont68 Indian Springs Britt Road & Wolf Branch Road Mount Dora FL 32757 Planned 100 Mt Dora69 603 Brevard 603 Brevard Avenue Cocoa FL 32922 Planned 100 Melbourne70 Highline SWC Grant Place & East New Haven Avenue Melbourne FL 32901 Planned 171 Palm Bay71 San Filippo Jaslo Street SE & San Filippo Drive SE Palm Bay FL 32909 Planned 197 Palm Bay72 Villages at West Lakes Phase II, The 2205 Orange Center Blvd Orlando FL 32805 Planned 120 Holden Heights73 Amelia Court at Creative Village NEC West Amelia Street & North Parramore Avenue Orlando FL 32805 Planned 256 Pine Hills

TOTAL PLANNED 12,26574 845 North Magnolia Avenue 845 North Magnolia Avenue Orlando FL 32803 Prospective 200 Downtown Orlando75 City Centre 205 East Central Blvd Orlando FL 32801 Prospective 215 Downtown Orlando76 Golden Sparrow 434 North Orange Avenue Orlando FL 32801 Prospective 290 Downtown Orlando77 Golden Sparrow Phase II 434 North Orange Avenue Orlando FL 32801 Prospective 285 Downtown Orlando78 Golden Sparrow Phase III 434 North Orange Avenue Orlando FL 32801 Prospective 292 Downtown Orlando79 Novel Lucerne Phase II NWC West Gore Street & South Orange Avenue Orlando FL 32801 Prospective 300 Downtown Orlando80 Orange Avenue 944 South Orange Avenue Orlando FL 32806 Prospective 184 Downtown Orlando81 Orlando Central 110 West Jefferson Street Orlando FL 32801 Prospective 450 Downtown Orlando82 Tribune 501 North Orange Avenue Orlando FL 32801 Prospective 318 Downtown Orlando83 Tribune II 501 North Orange Avenue Orlando FL 32801 Prospective 428 Downtown Orlando84 Broadstone Lakehouse North Ivanhoe Road & North Orange Road Orlando FL 32804 Prospective 288 Colonial Town85 Orange Avenue North Orange Avenue & East Rollins Street Orlando FL 32804 Prospective 325 Colonial Town86 Yard at Ivanhoe Phase II, The 1605 Alden Road Orlando FL 32803 Prospective 174 Colonial Town87 GrandeVille at JubiLee Park Phase III 6850 Merryvale Lane Orlando FL 32822 Prospective 392 Vista Park88 Sandlake Palazzo West Lancaster Road & Winegard Road Pine Castle FL 32809 Prospective 180 Belle Isle89 Sandlake Station 7803 South Orange Avenue Orlando FL 32809 Prospective 196 Belle Isle90 Grand National International Drive & West Oak Ridge Road Orlando FL 32819 Prospective 260 Florida Center91 Lake Betty 2695 South Orange Blossom Trail Apopka FL 32703 Prospective 408 Lockhart92 Maitland West Phase II 8805 Albemarle Road Orlando FL 32810 Prospective 285 Lockhart93 Creative Village - Parcel M West Amelia Street & North Terry Avenue Orlando FL 32801 Prospective 390 Pine Hills94 Creative Village - Parcel U West Amelia Street & Ronald Blocker Avenue Orlando FL 32801 Prospective 100 Pine Hills95 Packing District, The North Orange Blossom Trail & Princeton Street Orlando FL 32804 Prospective 1000 Pine Hills96 Fifty West SWC West Colonial Drive & Maguire Road Ocoee FL 34761 Prospective 275 Gotha/Orlovista97 Inspiration Florida's Turnpike & Maguire Road Ocoee FL 34761 Prospective 90 Gotha/Orlovista98 Apopka City Center State Route 436 & U.S. Route North 441 Apopka FL 32704 Prospective 82 Apopka/Piedmont99 Avian Pointe 2771 Lust Road Apopka FL 32703 Prospective 750 Apopka/Piedmont100 Marden Ridge Phase II 1501 Marden Road Apopka FL 32703 Prospective 228 Apopka/Piedmont101 Flamingo Crossings East 13325 Flamingo Crossings Blvd Winter Garden FL 32821 Prospective 1300 Lake Buena Vista102 Flamingo Crossings West Flagler Avenue & Flamingo Crossings Blvd Winter Garden FL 34787 Prospective 1300 Lake Buena Vista103 O-Town West & O-Town Village Daryl Carter Pkwy & Palm Pkwy Orlando FL 32819 Prospective 100 Lake Buena Vista104 Rialto II NWC Majorca Place & Turkey Lake Road Orlando FL 32819 Prospective 297 Lake Buena Vista105 SunRail Senior Mary Louis Lane & South Orange Avenue Orlando FL 32837 Prospective 200 Hunter's Creek106 River Cross Land East Colonial Drive & Chuluota Road Orlando FL 32820 Prospective 500 Stoneybrook107 Paseo at Collegiate Village, The 4000 Central Florida Blvd Orlando FL 32816 Prospective 350 University Park108 Retreat at Orlando, The Phase II 11037 Retreat Avenue Orlando FL 32817 Prospective 100 University Park109 Seminole Avenue Princess Palm Place & Seminole Avenue Oviedo FL 32765 Prospective 50 Oviedo110 Alta Seminole Aloma Avenue & Tuskawilla Road Oviedo FL 32765 Prospective 253 Red Bug Lake111 New Century Town Center Primera Blvd & Rinehart Road Lake Mary FL 32746 Prospective 350 Lake Mary112 Preserve, The 1010 West Lake Mary Blvd Sanford FL 32773 Prospective 240 Elder Springs113 First Street Station 200 West 1st Street Sanford FL 32771 Prospective 292 Sanford114 Monroe Place 2306 West 1st Street Sanford FL 32771 Prospective 102 Lake Monroe115 View @ Lake Monroe, The 2485 NW US Highway 17-92 Sanford FL 32771 Prospective 300 Lake Monroe116 Isles of Bellalago Isles of Bellalago Drive & South Poinciana Blvd Kissimmee FL 34746 Prospective 50 Celebration117 Ovation Town Center South Lake Wilson Road & Osceola Polk Line Road Davenport FL 33896 Prospective 500 Celebration118 Cameron Preserve Phase II West Irlo Bronson Memorial Hwy & Yates Road Kissimmee FL 34741 Prospective 90 West Kissimmee119 SunRail Osceola South Orange Avenue & East Osceola Pkwy Kissimmee FL 34744 Prospective 238 East Kissimmee120 SunRail Osceola Phase II South Orange Avenue & East Osceola Pkwy Kissimmee FL 34744 Prospective 112 East Kissimmee121 NeoCity 200 NeoCity Way Kissimmee FL 34744 Prospective 100 Fish Lake122 Minneola Hills Fosgate Road & North Hancock Road Minneola FL 34715 Prospective 297 Clermont123 Vue at Clermont, The Giovani Blvd & Old Hwy 50 West Clermont FL 34713 Prospective 100 Clermont124 Lakeview Commons North Grove Street & East McDonald Avenue Eustis FL 32726 Prospective 72 Mt Dora125 Spring Lake Road 2307 Spring Lake Road Fruitland Park FL 34731 Prospective 110 Leesburg126 Venetian Isles East Dixie Avenue & South Lake Street Leesburg FL 34748 Prospective 100 Leesburg127 Luna Trail South Deleon Avenue & Sycamore Street Titusville FL 32780 Prospective 86 Titusville128 Suntree 1000 Villa Drive Melbourne FL 32940 Prospective 100 Melbourne129 Harmony at Pinewood Mogra Circle NE & Pinewood Drive NE Palm Bay FL 32905 Prospective 86 Palm Bay

TOTAL PROSPECTIVE 16,160

TOTAL ORLANDO 39,090

Source: Yardi Matrix

Orlando New Construction and Proposed Multifamily Projects

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