• 100% Market-Rate Asset At Scale

206 units of free-market inventory offering meaningful scale and full operational flexibility — All 206 apartments are free-market and are not subject to rent control or rent stabilization.

• Trailing 7.1% Cap Rate On T12 Actuals, With Upside

Strong going-in cash flow under written on actuals, not projections. Deluxe units already command an approximately $136 monthly premium, evidencing a proven path to capture value through unit upgrades.

• 4.3% Rental Revenue Growth Demonstrates Momentum

Total monthly rental income rose 4.3% from July 2025 through June 2026 — sustained pricing power layered on top of the remaining +/-10.9% gap to market.

• 99.5% Occupancy Reflecting Deep, Diversified Demand

Physical occupancy of 99.5% minimizes near-term lease-up risk. With less than 25% of tenants military-related, the rent roll draws on the full breadth of the Watertown economy.

• Uniform All Two-Bedroom Floor Plans

A 100% two-bedroom mix at 950 SF appeals to military personnel, families, and working professionals alike —creating a simple operating model and predictable leasing demand.

• Fort Drum-Anchored Employment Base

Located approximately 13 miles from Fort Drum, the largest single-site employer in northern New York. Fort Drum supports approximately 22,000 jobs across the Tri-County Region and generates approximately $2.48 billion in annual economic impact.