9:45 AM Blue Skies Ahead: High

Profile New Developments

What Are The Demographics Telling Us?

• Millennials larger than the “boomer” generation. (78.6+/- million)• Only 13% live in urban areas (core and surrounding)• 21% still live at home• 66+/-% live in the suburbs! (less expensive, more jobs and greater amenities)• • 51% of apartment renters are under 30 years of age• 52% of renter are from30 to 64 years of age • 42 is the median age of a renter in the US today• 8% overall US vacancy• $1.37 overall US rent/Sq Ft (the highest recorded)

• NOT JUST MILLENIALS RENT and NOT JUST DOWNTOWN!!

Author: Kyle Riva

Boy Scouts-Be Prepared-

Bus Drivers-Who Is Driving?-

Author: Steve McConihay Dockside Investors, LLC

11:15 AM - Track ATreasure Fleet: Debt, Equity

& Funding Alternatives when Raising Capital Today

CRE Finance

Author: Brian Bailey, CCIM

0

10

20

30

40

50

2014 2015 2016

Construction & Land Dev. Multifamily Nonfarm Nonres

-20

-10

0

10

20

30

40

50

2014 2015 2016

Construction & Land Dev. Multifamily Nonfarm Nonres

$ Bi

llion

s%

of R

espo

nden

ts

% o

f Res

pond

ents

Foreign Capital

Lender Market Share

Net Loan DemandUnderwriting

Sources: RCAnalytics, FR Board/Federal Reserve Bank of Atlanta

Author: Jim Going

ReadyCap CommercialReadyCap Commercial

• Non-bank lender • Offering small-balance commercial real estate financing • Nationwide

• Products include Commercial and Multifamily Freddie Mac SBL Seller / Servicer Bridge SBA 7(a)

• Subsidiary of Sutherland Asset Management, a publicly traded REIT

• Operation Centers in Dallas, Texas New Providence, New Jersey New York, New York

Why the Future of Multi-Family Investment is Bright

• 75 Million Baby Boomers

• Possible Conversion of Multi-Family into Retirement

• Millennials Aren’t Buying Homes

• 775,000 new rental units emerge each year since 2004

Author: Elise Batsel

Author: Michael Phillips

1967197219771982198719921997200220072012201720220

255075

100125150

Mill

ions

of S

quar

e Fe

et

Construction: Total SF Below Trend

Construction: But Dollars Up

19931993M21993M31993M41993M51993M61993M71993M81993M91993M101993M111993M121994M11994M21994M31994M41994M51994M61994M71994M81994M91994M101994M111994M1219951995M21995M31995M41995M51995M61995M71995M81995M91995M101995M111995M1219961996M21996M31996M41996M51996M61996M71996M81996M91996M101996M111996M1219971997M21997M31997M41997M51997M61997M71997M81997M91997M101997M111997M1219981998M21998M31998M41998M51998M61998M71998M81998M91998M101998M111998M1219991999M21999M31999M41999M51999M61999M71999M81999M91999M101999M111999M1220002000M22000M32000M42000M52000M62000M72000M82000M92000M102000M112000M1220012001M22001M32001M42001M52001M62001M72001M82001M92001M102001M112001M1220022002M22002M32002M42002M52002M62002M72002M82002M92002M102002M112002M1220032003M22003M32003M42003M52003M62003M72003M82003M92003M102003M112003M1220042004M22004M32004M42004M52004M62004M72004M82004M92004M102004M112004M1220052005M22005M32005M42005M52005M62005M72005M82005M92005M102005M112005M1220062006M22006M32006M42006M52006M62006M72006M82006M92006M102006M112006M1220072007M22007M32007M42007M52007M62007M72007M82007M92007M102007M112007M1220082008M22008M32008M42008M52008M62008M72008M82008M92008M102008M112008M1220092009M22009M32009M42009M52009M62009M72009M82009M92009M102009M112009M1220102010M22010M32010M42010M52010M62010M72010M82010M92010M102010M112010M1220112011M22011M32011M42011M52011M62011M72011M82011M92011M10Nov-11Dec-11Jan-12Feb-12Mar-12Apr-12May-12Jun-12Jul-12Aug-12Sep-12O ct-12Nov-12Dec- 122013Feb-13Mar -13Apr-13May- 13Jun-13Jul-13Aug-13Sep-13Oc t-13Nov-13Dec -132014Feb- 14Mar-14Apr-14May-14Jun-14Jul-14Aug-14Sep-14Oc t-14Nov- 14Dec-142015Feb-15Mar -15Apr -15May-15Jun-15Jul-15Aug-15Sep-15Oc t-15Nov-15Dec- 152016Feb-16Mar-16Apr-16May- 16Jun-16Jul-16Aug-16Sep-16Oc t-16Nov-16Dec -162017Feb-17Mar -17Apr-17May-17Jun-17Jul-17Aug- 17Sep-17Oc t-17Nov-17Dec -172018Feb-18Mar-18Apr-18May-18Jun-18Jul- 18Aug-18Sep-18Oc t-18Nov-18Dec-1820190

50,000100,000150,000200,000250,000300,000

*t hr ou gh N o ve mbe r

Author: Norman Radow

11:15 AM – Track BFeeling the Heat: Controlling Construction Costs through

Management & Design

Author: Peter Collins

Construction Costs per Square Foot for Multifamily Apartments

*Data obtained from RSMeans

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017* (Est.)

$-

$20.00

$40.00

$60.00

$80.00

$100.00

$120.00

$140.00

$160.00

$180.00

$200.00

Annual Multifamily Construction Costs Per SF

Dollars Per Square FootTampa, FL

Dollars Per Square FootNational Average

• Recent cost increases driven mostly by increased labor costs as demand for subcontractors is far exceeding supply in many markets.

• Recent material costs have remained relatively stable, but costs in material are expected to start to increase as gas and oil prices rise, resulting in an increase in all commodity prices.

12:05 PM – Track AHidden Treasures: Value-Add

Redevelopment and Emerging Submarkets across

West & Central Florida

Author: Fabrizzio Lucchese

• Redevelopment of Existing 96-Unit 4BR 4Bth Student Apartment Community

• Current “as is” Value: $6,500,000• Developed in 2001• Changing Market Forced Strategic

Redevelopment• Proposed Conversion into 160-Unit

Market Rate Rental Property• 64 units converted into 32 1 BR and

32 into 2 BR 2Bth 32 remained as is• Cost of Complete Conversion:

$1,623,000• Est. Time to Complete & Stabilize: 8

mo/2 yrs.• Est. Stabilized Value:

$13,500,000

Redevelopment Project

Author: Bert De Alejo

Market Fundamentals

Median Income (within 1-3 mi. Radius) $45k+

Proforma rent to median income 20% - 35%

Market rent growth assumptions 2%? 4%? …0%?

School zones & ratings A-B rated school district

Submarket population growth Positive net migration Economic drivers likely to lead to

sustained job growth Barriers to new entry & discount to

replacement cost Business friendly and landlord-friendly

government

Author: McKinley Hyde Park

HYDE PARK / SOUTH TAMPA AREA MAP

• Total Buildings 30+• Total Units 700+• Minimum Building Size 4

Units

Author: Jeffrey Rosenfeld

Value-Added RenovationBefore After

Vinyl Plank Flooring Quartz countertops Subway Tile backsplash Painted kitchen

cabinets Under cabinet lighting Stainless Steel

Appliances

LED Light fixtures LED Backlit mirrors for

bathroom Brushed Nickel hardware Brushed Nickel plumbing

fixtures. Full interior paint

ROBBINS ELECTRA Past 12 months At-A-Glance

Total Value of Acquisitions: $970,000,000

Construction: 5,000 units renovated;  4,000 undergoing renovation

Cost of Typical Central Florida Renovation/Unit: $5,600 (Florida renovation budget was $8k/unit)

Average Central Florida Rent Increase over 3 years:  $185-$205

Average Repositioning Time:  9 months

Tampa based, Southeast focused: REM acquired 10,148 units in 35 sites throughout the southeast in the past 12 months, and in Central/North Florida 8 properties and 2,767 units

Central Florida Rationale:  job growth , population growth, right-to-work state, reasonable LLT legal environment, strong garden-style supply

Author: Lubeck/Robbins Electra

12:05 PM – Track BBatten Down the Hatches: Revenue Growth & Cost

Cutting Strategies for Multifamily Owners &

Operators

Author: Bruce LaMotte

Interior Signature Program Description 1BR 1BA- upcharge $85 average price $2,813 A1-black appliance package $1,395, Hardware with mirror frame $308.93, Lighting $101.24, Plumbing $197.48, Cabinet boxes $300, Cabinet doors and drawers $510.90. Total $2,813.55 ROI 36% 2 BR 2 BA- upcharge $100 average price $3,412 upcharge $100 price $3,412 B1- black appliance package $1,395, Hardware with mirror frame $513.77, Lighting $178.88, Plumbing $241.65, Cabinet boxes $300, Cabinet doors and drawers, $782.97 Total $3,412.27 ROI 35%

Generate Additional Revenue Security systems with cameras – able to view

their pet/maintenance etc. UPS/Fedx to pay for package drop lockers Handling fee for paper checks/money orders Software to allow prospects to view the actual

apartment after hours. The prospect would pay a fee to prequalify and an entry fee.

Smokers to pay additional upfront fee Yoga class/personal trainer Add amenity codes for all new flooring,

upgrades, views, floor, appliances etc. Implement Revenue Management System Require 60 day notice to Move Application Fee per person Non Refundable Credit approval fees replacing

the traditional security deposit Pet Privilege Fee/Fee outside of the normal fees

for not reporting the pet at move in Pest Control Fee Utility Cost Recovery Mandatory Renters Insurance

http://colliercompanies.com220 N. Main Street, Gainesville FL 32601(352).375.2152

IQ Luxury Apartments, Tampa FL• 656 Student Housing Beds• $53,036,584 Development Cost• Completed July 2016

Author: Nathan Collier