Asset Description

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•    Garden style community
•    33 buildings, 1979 construction
•    B level asset
•    Tenant base consisting mainly of singles and families working in the Short Pump and Downtown area.

Geographic Selection Criteria

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•    Richmond metropolitan area-Henrico County
•    Easy access to the region's employment centers via multiple interstate highways
•    Close proximity to Innsbruck Corporate Center, Short Pump Mall and downtown Richmond
•    Large concentration of corporate headquarters, universities, high-end retail, well-located seaport and international
     airport make this area a top regional employment hub
•    The Property is conveniently located immediately adjacent to the entrance of Henrico's Doctor's Hospital Forest
     Campus a 767 bed facility employing over 3,500 people which is currently in the middle of a $100 million expansion.
     Across the street is the Forest Office Park with over 660,000 square feet of office space.

Transaction Highlights

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•    Purchased from Lowe Enterprises for $35,475,000
•    Lowe purchased property in 2006 and invested $6.5 million in renovations
•    Sellers estimated basis $40.8 million
•    Aldwin will invest $2.2 million in capital improvements

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