Laramar Services Book

1REAL ESTATE SERVICES

WHAT’S INSIDE

01. ALLOW US TO INTRODUCE OURSELVES.....5 T h e L a r a m a r G r o u p O v e r v i e w & H i s t o r y N a t i o n a l M a n a g e m e n t P r e s e n c e C o m p a n y O r g a n i z a t i o n E x e c u t i v e Te a m

02. TOP NOTCH REAL ESTATE SERVICES.....21 M u l t i f a m i l y P r o p e r t y M a n a g e m e n t D e v e l o p m e n t C o n s u l t i n g C o n s t r u c t i o n M a n a g e m e n t D u e D i l i g e n c e

03. FROM OUR MARKETING DESK............39 M a r k e t i n g A p p r o a c h M a r k e t i n g O p e r a t i n g P l a t f o r m M a r k e t i n g A n a l y t i c s E v a l u a t i n g M a r k e t i n g P e r f o r m a n c e R e p u t a t i o n M a n a g e m e n t R e s i d e n t R e t e n t i o n & C o m m u n i t y O u t r e a c h

04. EXPERIENCE THE LARAMAR DIFFERENCE..61 N o r t h Wa t e r - C h i c a g o D o c k S t r e e t F l a t s - M i n n e a p o l i s O n e O b s e r v a t o r y Pa r k - D e n v e r B r i d g e y a r d A p a r t m e n t s - A l e x a n d r i a , VA

05. NATIONAL OPERATING PLATFORM........75 Q u a l i t y P r o g r a m s H i r i n g P r a c t i c e s & Tr a i n i n g Te c h n i c a l R e s o u r c e s S u s t a i n a b i l i t y T h e F i l l m o r e C e n t e r - S a n F r a n c i s c o

6 THE LARAMAR GROUP

THE LARAMAR GROUP OVERVIEW & HISTORYFounded in 1989, Laramar has grown from a smal l rea l e s tate investment company to a ver t ica l ly integrated and dis t inguished nat ional rea l e s tate investment and proper ty management corporat ion with a mult i -b i l l ion dol lar por t fo l io. However, we haven’t forgotten the bas ic reason for our success : our people and the re la t ionships they nur ture . Our foundat ion i s bui l t upon a highly exper ienced, wel l - t ra ined management team of rea l e s tate profess ional s who love the i r work and honor the i r commitment to both our c l ients and our res idents . From acquis i t ions to account ing, proper ty management to f inance , each team member executes the i r ro le with s t rong dedicat ion. The resul t i s a team that i s d i l igent and focused, unders tanding the needs of i t s c l ients and res idents , and working t i re les s ly to bui ld pos i t ive re la t ionships and exceed expectat ions on every f ront .

For over 25 years , Laramar has de l ivered an unpara l le led leve l of ser v ice to the rea l e s tate industr y. The company has a large nat ional p lat form that provides a comprehens ive sui te of both investment and asset management ser v ices , inc luding: mult i fami ly proper ty management , deve lopment consul t ing, susta inabi l i ty consul t ing, th i rd-par ty revenue management , construct ion management and due di l igence .

Laramar has spec ia l i zed in managing and acquir ing mult i fami ly proper t ies throughout i t s ent i re company his tory. Our success with these proper t ies i s achieved through the appl icat ion of our Operat ing Plat form or s t rateg ic re-pos i t ioning of as set s through va lue-add projects . The company manages Class A to C proper t ies , f rom high-r i se urban to suburban garden-s ty le . Laramar’s por t fo l io cons i s t s of over 30,000 unit s nat ionwide, both owned or third par ty managed. The company has a presence in over 20 markets f rom coast to coast and corporate of f ices in Chicago and Denver, with over 800 employees between our corporate of f ices and the f ie ld .

Laramar manages for a se lect group of c l ients such as AEW, AIG, Grosvenor, PNC, Prudent ia l , TIAA-CREF and others .

ATTRACTING TOP TALENT THROUGH A TOP-NOTCH BRANDA good, authent ic brand that a l igns with company va lues i s a t t ract ive to not only res idents , but a l so top ta lent . People care about the i r company’s va lues and seek out inst i tut ions with a reputat ion for qual i ty and integr i ty.

Laramar’s foundat ion of tenured profess ional s contr ibutes to our p lace as a top t ier, ins t i tut ional proper ty management company. The team’s exper ience has a l lowed us to bui ld a nat ionwide plat form of “best pract ices” , inc luding di f ferent iat ing ideas in technology, t ra ining, market ing and repor t ing that are implemented across our por t fo l io. The f i rm ut i l i zes the col lect ive exper ience of our as soc iates , a s wel l a s the data that we have accumulated over our 25 year hi s tory to he lp ident i fy and deve lop new oppor tunit ies . By analyz ing hi s tor ica l , current and predict ive v iews of our bus iness operat ions , we achieve a compet i t ive market advantage .

Laramar’s entrepreneur ia l sp i r i t i s seen at every leve l of the company. From our corporate of f ices to our as soc iates in the f ie ld , each team member i s g iven a voice and encouraged to contr ibute .

OUR MISSIONLaramar s t r ives to se t a s tandard in apar tment l iv ing. Every res ident can be conf ident that our on-s i te and corporate s ta f f s t r ive to provide qual i ty and cons i s tent ser v ices to each res ident in the community.

At the end of the day, th i s i s a people bus iness and we fee l that the u l t imate success of every investment l ie s in the people on the ground. Laramar pr ides i t se l f on i t s employees , se lected for the i r exper ience and creat iv i ty, d i s t inguished by profess ional i sm and the abi l i ty to of fer exemplary ser v ice a t every leve l .

Laramar’s met iculous at tent ion to deta i l means outs tanding l iv ing spaces with unwaver ing maintenance s tandards and personal ized ser v ice that wi l l exceed expectat ions . Laramar cont inual ly s t r ives to make a res ident’s exper ience second to none.

“FOR OVER 25 YEARS, LARAMAR HAS DELIVERED AN UNPARALLELED LEVEL OF SERVICE TO THE REAL ESTATE INDUSTRY.”

8 THE LARAMAR GROUP

NATIONAL MANAGEMENT PRESENCELaramar has corporate of f ices in Chicago and Denver, a long with reg ional of f ices in 20 major markets across the country.

CHICAGO30 South Wacker Drive Sui te 2750 Chicago, IL 60606 312.669.1200

DENVER7900 E. Union AvenueSuite 500 Denver, CO 80237 303.991.0094


WEST REGION Las Vegas

Los Angeles Phoenix

San Francisco Seat t le

Chicago Dal lasDenver

HoustonIndianapol i s Milwaukee

Minneapol i s Oklahoma City

St . Louis Tulsa

EAST REGIONAtlanta Boston

Char lot te Har t fordLouisv i l l e Maryland

MiamiOrlando

South Carol inaTampa

VirginiaWashington, D.C.

CENTRAL REGION

C O M P A N Y O R G A N I Z A T I O N


12 THE LARAMAR GROUP


JEFF ELOWE PRESIDENT & CEO

Mr. Elowe founded The Laramar Group in 2001 af ter co- founding Elkor Real ty Corp. and Elkor Proper t ies in 1989. As Pres ident and CEO of The Laramar Group, Mr. Elowe oversees an inst i tut ional rea l e s tate por t fo l io va lued in excess of $1 bi l l ion and i s a pr inc ipa l in the Laramar Mult i -Family Value Fund, which i s a d i scret ionary commingled rea l e s tate investment vehic le spec ia l i z ing in mult i - fami ly investments throughout the U.S.

Laramar i s a nat ional ly recognized investment and proper ty manager current ly ranked in the top 50 larges t f i rms in the U.S. by the Nat ional Mult i -Housing Counci l . Mr. Elowe i s chairman of the investment committee and i s respons ib le for the company’s overa l l s t rateg ic p lanning, investments , a s set management and investor re la t ions . Mr. Elowe i s a l so a founder and pr incipa l of Covington Real ty Par tners , which i s a h ighly regarded sponsor of nat ional Tenant- in-Common (TIC) and Delaware Statutory Trust (DST) t ransact ions . Mr. Elowe has bui l t a success fu l 24-year rea l e s tate investment t rack record having sponsored and par t ic ipated in t ransact ions tota l ing in excess of $4 bi l l ion.

Mr. Elowe i s the rec ipient of the 2013 Ernst & Young Entrepreneur of the Year Award (Mountain Deser t reg ion) . In addit ion, Mr. Elowe i s on the board of d i rectors of the Nat ional Mult i -Housing Counci l (NMHC), i s a member of the Urban Land Inst i tute (ULI) and i s a member of the Young Pres idents Organizat ion (YPO). He i s chairman of the board for the North Lawndale Col lege Prep Char ter Schools and a board member of Chicago Jewish High School . Mr. Elowe has a B.S. degree f rom the Univers i ty of I l l inois and an M.D. degree f rom Northwestern Univers i ty.


BENNETT NEUMAN SENIOR VICE PRESIDENT - ACQUISITIONS

Mr. Neuman i s respons ib le for proper ty acquis i t ions in Laramar’s Midwest , Southeast and East Regions . Mr. Neuman jo ined Laramar’s predecessor company, Elkor Real ty, in 1998. Since jo ining Laramar’s predecessor company, Mr. Neuman has been respons ib le for over $2 bi l l ion of acquis i t ions . Addit ional ly, he has p layed a cr i t ica l ro le in the a f fordable hous ing act iv i t ie s of Laramar and i t s predecessor, inc luding complet ing over $90 mi l l ion of tax-exempt bond f inanced t ransact ions . Mr. Neuman has deve loped s t rong re la t ionships with loca l owners and brokers in severa l markets , a l lowing him to ident i fy acquis i t ions that are not wide ly marketed.

Pr ior to jo ining Laramar’s predecessor company, Mr. Neuman was an asset manager with M. Myers Proper t ies , a pr ivate owner with approximate ly 6 ,000 apar tment unit s located throughout the Midwest . He oversaw the operat ions of th i s por t fo l io and managed the phys ica l renovat ion and repos i t ioning of d i s t res sed asset s acquired through forec losure .

Tra ined as an archi tect , Mr. Neuman a l so worked for Holabird & Root Archi tects , one of Chicago’s preeminent archi tecture f i rms, where he pr imar i ly focused on the des ign, programming and space p lanning for a new headquar ters for a nat ional f inancia l ser v ices company. Mr. Neuman has a B.A. degree and a masters of archi tecture degree f rom the Univers i ty of Michigan and an M.B.A. with a concentrat ion in f inance f rom the Univers i ty of Chicago.

STEVE BOYACK CHIEF OPERATIONS OFFICER

Steve Boyack jo ined Laramar in 2002, and oversees Laramar’s nat ional por t fo l io , inc luding a l l f i e ld operat ions and s i te s ta f f s , market ing, project management and por t fo l io per formance. In hi s ro le as Chief Operat ions Off icer, he i s respons ib le for ensur ing that Laramar’s sys tems and programs are implemented cons i s tent ly across the por t fo l io. Mr. Boyack a l so oversees the implementat ion of Laramar’s Urban Neighborhood plat form nat ionwide.

Mr. Boyack f i r s t jo ined Laramar in the ro le of Genera l Manager for the Fi l lmore Center in San Francisco, then oversaw the Bay Area as Laramar’s reg ional manager. He quickly ascended to the ro le of Vice Pres ident of Asset Management in 2006 and then in 2010, was promoted to Senior Vice Pres ident of Asset Management/Business Development .

Pr ior to Laramar, Mr. Boyack was a genera l manager with Draper and Kramer where he oversaw a Class A luxury high-r i se deve lopment on the Chicago lakefront . Pr ior to Draper and Kramer, Mr. Boyack was a proper ty manager with RMK Management Company. Mr. Boyack has ser ved on the board of d i rectors of the Inst i tute of Rea l Estate Management ( IREM) and i s a Cer t i f ied Proper ty Manager (CPM). He i s a l so on the board of NMHC’s Susta inabi l i ty Subcommittee .

Mr. Boyack has a B.S. degree in economics , with a double emphas i s in math and psychology f rom the Univers i ty of Iowa.


SCOTT MCMILLAN SENIOR VICE PRESIDENT - ACCOUNTING/CONTROLLER

Mr. McMil lan i s respons ib le for the overs ight of a l l account ing funct ions at Laramar, which inc ludes a l l proper ty and corporate leve l f inancia l s ta tement product ion, c l ient repor t ing, cash management , accounts payable , contract management , and vendor compl iance . Mr. McMil lan i s a l so a member of the internal audit committee .

Mr. McMil lan jo ined The Laramar Group in 2004 pr ior to be ing promoted to senior v ice pres ident in the fa l l o f 2011. Star t ing as the account ing manager for a l l fee management ass ignments nine years ago, he focused on bui ld ing versat i le pol ic ies and procedures that could eas i ly be adapted to handle mult ip le c l ients with vary ing needs .

As Mr. McMil lan has grown with Laramar, he has bui l t an account ing team that i s committed to de l iver ing high qual i ty f inancia l s ta tements both accurate ly and on t ime. Pr ior to Laramar, Mr. McMil lan worked at ABC Supply, one of the wor ld’s larges t bui ld ing products d i s t r ibutors where he he ld severa l pos i t ions inc luding internal audit and account ing manager.

Mr. McMil lan has a B.S degree in f inance with an emphas i s in account ing f rom the Univers i ty of Northern Iowa.

YOLANDA MEBERG SENIOR VICE PRESIDENT - HUMAN RESOURCES

Yolanda Meberg jo ined Laramar in November of 2013 as a human resource profess ional . Ms. Meberg’s career spans two decades and she has managed human resources in a var ie ty of industr ies and ro les .

Throughout her career, Ms. Meberg has success fu l ly es tabl i shed susta ining bus iness re la t ionships through her approach for accountabi l i ty, dr iv ing resul t s for the bus iness and respect for the indiv idual . Through her abi l i ty to address root cause analys i s , she has led process improvement teams and he lped create profess ional deve lopment p lans for a l l l eve l s of employees .

As a former Aff i rmat ive Act ion Off icer in higher educat ion, Employee Relat ions Manager for a mult i -nat ional te lephony company and as a Vice Pres ident of Human Resources managing top secret secur i ty c learance for internat ional bus iness , Ms. Meberg br ings a depth and breadth of s t rateg ic and pract ica l exper ience . Ms. Meberg has been success fu l as a recrui ter, pr inc ipa l negot iator for medica l and extended benef i t s , project manager for HRIS ini t ia t ives , a s wel l a s compl iance and employee re la t ions programs des igned to impact the employees in companies with a nat ional presence .

Ms. Meberg earned her Bachelor of Sc ience degree in Adult Educat ion & Training f rom the Univers i ty of Wyoming Col lege of Educat ion. She holds her Masters in Human Resources Management and Development f rom Colorado State Univers i ty.


MATTHEW LEVY VICE PRESIDENT - ACQUISITIONS

Mr. Levy i s the Vice Pres ident of Acquis i t ions for The Laramar Group. Mr. Levy i s respons ib le for ident i fy ing investment oppor tunit ies in the western United States with a pr imary focus on Cal i fornia markets . Mr. Levy jo ined Laramar a f ter s ix years as Vice Pres ident of Acquis i t ions & Development at Frost/Chaddock Developers , LLC, a Los Angeles based mult i - fami ly investment , deve lopment and management company where he was respons ib le for a l l a spects of acquis i t ions , feas ib i l i ty, des ign deve lopment , ent i t lements , and s t ructured f inancing.

Prior to jo ining Frost/Chaddock, Mr. Levy was the Acquis i t ions & Project Manager for Bever ly Hi l l s based Casden Proper t ies , LLC. At Casden, Mr. Levy was involved in the acquis i t ion and deve lopment of a p ipe l ine cons i s t ing of more than 3,000 res ident ia l uni t s and 500,000 square feet of commercia l space throughout Southern Cal i fornia .

Addit ional ly, Mr. Levy was a Deputy to Los Angeles City Counci lmember Tom LaBonge where he managed c i ty-wide capi ta l improvement projects , infras t ructure deve lopment , and land-use p lanning. Mr. Levy rece ived his B.S. f rom the Univers i ty of Southern Cal i fornia and a Master of Planning f rom the Univers i ty of Southern Cal i fornia .

BENJAMIN SLAD VICE PRESIDENT - INVESTMENTS

Mr. Slad jo ined The Laramar Group in 2004 and i s respons ib le for acquis i t ions , por t fo l io management , d i spos i t ions , as set management and investor re la t ions . Since jo ining Laramar, Mr. Slad has been involved in t ransact ions tota l ing more than 18,000 unit s and $1.8 bi l l ion of va lue . Mr. Slad works c lose ly with a l l team members inc luding account ing, investments , construct ion, r i sk management , operat ions and proper ty management .

Pr ior to jo ining Laramar, Mr. Slad was a project coordinator a t Imper ia l Rea l ty Co. in Chicago where he oversaw asset management and f inancia l ana lys i s .

Mr. Slad i s on the assoc iate board of the Over the Rainbow Associat ion, i s a member of the Nat ional Mult i -Housing Counci l ’s Emerging Leaders (NMHC) and i s a member of Urban Land Inst i tute (ULI) .

Mr. Slad has a B.A. degree and a Masters of Archi tecture degree f rom the Univers i ty of I l l inois . He a l so has an M.B.A. with a concentrat ion in f inance f rom the Univers i ty of I l l inois .


CHRISTOPHER PETER REGIONAL VICE PRESIDENT - OPERATIONS - WEST

Chri s topher Peter i s the Regional Vice Pres ident of Operat ions and i s respons ib le for the operat ions and f inancia l per formance of Laramar’s Western por t fo l io. Chri s has over 15 years of industr y exper ience and i s re turning to Laramar a f ter 4 years as Managing Director for Equity Res ident ia l in the San Francisco Bay Area . After success fu l ly integrat ing a Si l icon Val ley por t fo l io of over 1 ,800 unit s into the EQR por t fo l io , he went on to manage over 3 ,300 unit s , generat ing an annual revenue s t ream of over $75mm and set t ing record NOI growth. Chri s i s spec ia l i zed in both convent ional and rent control as set s , d i s t res sed por t fo l io opt imizat ion and post-acquis i t ion integrat ion. Pr ior to working for Equity Res ident ia l , Chri s was a por t fo l io Genera l Manager for the Laramar Group in the San Francisco Bay Area , managing a complex var ie ty of REO/Bank owned asset s . Chri s has a l so he ld the ro le of Senior Asset Manager a t Prana Investments , a rea l e s tate investment f i rm, with operat ions in New York, San Francisco and Los Angeles . His abi l i ty to opt imize proper ty operat ions , navigate complex regulatory environments and br idge chal lenging re la t ionships with s takeholders has been instrumenta l in the success of h i s por t fo l ios .

Chri s has ser ved as Vice Chairman of the City of East Pa lo Alto Rent Stabi l i zat ion Board, i s an act ive member of the Cal i fornia Apar tment Associat ion and current ly ser ves on the Housing Industr y Foundat ion Board of Directors , a s Execut ive Committee Vice Pres ident . He rece ived his Bachelor of Ar ts in Internat ional Relat ions f rom Lehigh Univers i ty.

MELANIE TRAPNELL REGIONAL VICE PRESIDENT - OPERATIONS - EAST

Melanie Trapnel l i s the Regional Vice Pres ident of Operat ions over the Eastern reg ion and i s respons ib le for the operat ions and f inancia l per formance for over 10,000 apar tments a long the Eastern Seaboard and Midwest . Melanie jo ined Laramar a f ter 3 years as the Regional Vice Pres ident of Vantage Management Incorporated, where she was respons ib le for new bus iness deve lopment and reg ional overs ight of jus t under 4 ,000 unit s in the DC metro area . Her por t fo l io inc luded lease-up and s tabi l i zed asset s , a s wel l a s as set s phas ing out of var ious types of subs idy.

Pr ior to working for Vantage , Melanie spent 10 years with Equity Res ident ia l in severa l d i f ferent markets inc luding Seat t le Washington, New York City, and Washington DC where she was a Regional Manager oversee ing a complex por t fo l io of h igh-r i se , mixed use and lease up asset s . She was act ive ly involved with the growth of the Seat t le por t fo l io and instrumenta l in deve loping a bench s t rength of engaged leaders to manage proper t ies in a highly compet i t ive market . Her accompl i shments a l so inc lude managing numerous changes to the operat ions inc luding the ro l lout of an ent i re ly new account ing and operat ing plat form, pr ice opt imizat ion and sa les t ra ining. She i s a member of IREM and has rece ived her ARM des ignat ion.

Melanie a t tended Idaho State Univers i ty and was a l so t ra ined in leadership at Rio Sa lado Col lege .


MICHAEL BURNAZ VICE PRESIDENT - CONSTRUCTION

Michae l Burnaz i s respons ib le for a l l day to day operat ions and s t rateg ic d i rect ion for the Laramar Construct ion Serv ices Divi s ion to inc lude Due Di l igence , Value Add, Redeve lopment , and Capita l Projects . Mr. Burnaz oversees Project Managers throughout the US and our Contract Adminis t rat ion Team.

Previous ly, Mr. Burnaz was nat ional d i rector of fac i l i ty management for Roy Jorgensen Associates , Ir v ine , CA, respons ib le for da i ly operat ions and overa l l d i rect ion of i t s maintenance/construct ion div i s ion, oversee ing a l l bui ld ing operat ions and construct ion ser v ices spanning 2.7 mi l l ion sq. f t . in 50 locat ions in 26 s tates .

Pr ior to Jorgensen Associates , Mr. Burnaz was project manager for Avalon Bay Communit ies in Southern Cal i fornia , with a por t fo l io of 57 communit ies and 14,825 unit s . Pr ior to Avalon Bay, Mr. Burnaz was respons ib le for Code and Neighborhood Serv ices with the City of Moreno Val ley.

A former U.S. Marine (Act ive Duty, 1986-1992) and Army Reserv i s t (1994-1998) , Mr. Burnaz has a B.S. degree in bus iness f rom the Univers i ty of Phoenix . In addit ion Mr. Burnaz i s a Licensed Genera l Contractor in Cal i fornia and holds severa l Nat ional Cer t i f icat ions through (ICC) Internat ional Code Counci l .

DAVID EGELAND VICE PRESIDENT - MARKETING

David Egeland jo ined The Laramar Group in 2014, and i s respons ib le for a l l market ing and tra ining act iv i ty. His respons ibi l i t ie s inc lude proper ty-based market ing and exper ient ia l programming, d ig i ta l in i t ia t ives , and investor communicat ions . Mr. Egeland works c lose ly with the Bus iness Development team on new product deve lopment encompass ing branding, awareness campaigns , s t rateg ic creat ive deve lopment and soc ia l media .

Pr ior to jo ining Laramar, he spent 14 years a t Genera l Growth Proper t ies , the second larges t re ta i l REIT in the U.S. Mr. Egeland had severa l senior market ing ro les a t GGP, such as SVP Fie ld Market ing, VP Market ing Programming & Operat ions , and VP Market ing – Western Region.

Before GGP, Mr. Egeland worked as a Brand Director a t Sears , Senior Brand Manager a t Kraf t Foods and as a Media Superv i sor for Leo Burnett adver t i s ing.

Mr. Egeland holds a B.S. in Communicat ions f rom the Univers i ty of I l l inois a t Urbana-Champaign and an MBA from the Kel logg School of Management at Northwestern Univers i ty.

LEE MONTGOMERY ASSISTANT VICE PRESIDENT - IT & BUSINESS INTELLIGENCE

Lee Montgomery, AVP of IT and Business Inte l l igence , i s a Senior Operat ions , Finance and Account ing Execut ive with over 20+ years’ exper ience deve loping v i s ion, processes and sys tems in the Real Estate and Hospita l i ty industr ies . Mr. Montgomery’s respons ibi l i ty i s to provide technica l I /T suppor t , implement/tra in and manage company bus iness appl icat ions as wel l a s par tner with internal customers to deve lop s t rateg ic technology ini t ia t ives in suppor t of the Laramar por t fo l io of as set s and potent ia l acquis i t ions .

Pr ior to jo ining Laramar, Mr. Montgomery was EVP of Operat ions for Wilkinson Asset Management . Prev ious to Wilkinson, he spent three years a t Yardi Systems in an execut ive ro le respons ib le for consul t ing with c l ients to ident i fy gaps in operat ional processes and deve loping ini t ia t ives us ing Yardi sof tware so lut ions . In addit ion, he spent e ight years a t Apar tment and Investment Management Company (AIMCO) as SVP Revenue Management and Business Inte l l igence which inc luded the deve lopment of a Revenue Management System and a Bus iness Inte l l igence process and plat form. Pr ior to jo ining AIMCO, he spent 12 years a t Norwegian Cruise Line as VP Revenue Management and Analyt ics and other numerous f inancia l pos i t ions . Mr. Montgomery graduated f rom the Univers i ty of Texas with a BBA in Operat ions in addit ion to rece iv ing an MBA in Finance and Informat ion Technology f rom the Univers i ty of HoustonAlso, he i s a l i censed CPA in the s tate of Colorado. 19



Laramar takes pr ide in i t s people and invest s in the best ta lent in the industr y. We have deve loped a deta i led network of communicat ion and suppor t throughout our nat ional por t fo l io. Our sys tems are bui l t to t rack, analyze , repor t and de l iver qual i ty resul t s for each proper ty we manage, and our assoc iates are t ra ined to e f fect ive ly lead, superv i se , t ra in and disc ip l ine . Each on-s i te team i s suppor ted by an Area Vice Pres ident or Regional Manager, who oversees each asset with met iculous care . These managers are suppor ted by our corporate of f ices , which of fer a l l back of house funct ions that are necessary for our teams to succeed.

Our corporate of f ices are s t rateg ica l ly p laced nat ionwide to of fer easy access and communicat ion with our on-s i te teams. The resul t i s a s t rong organizat ion of tenured profess ional s who are able to respond to oppor tunit ies across the country with a targeted, thoughtful and progress ive approach.

Laramar’s cons i s tent Nat ional Operat ing Plat form ut i l i zes the best sys tems, programs, repor t ing and technology in the mult i fami ly industr y. Our benchmark s tandards of measur ing per formance, a long with our metr ic-based repor t ing, contr ibute to our team’s cont inued success . We use dashboards and ranking repor ts to analyze our proper t ies and bui ld an internal database of informat ion. These technologies provide hi s tor ica l , current and predict ive v iews of our bus iness operat ions , and g ive us a compet i t ive market advantage . A combinat ion of the best people and technologica l ly advanced tools has made Laramar a thought leader in the mult i fami ly industr y.

Please re f e r to 05. Nat ional Operat ing Plat form for a comprehens ive over view o f programs avai lab le accro s s a l l d iv i s ions wi thin our mul t i fami ly proper ty management s e r v i ce s .





Laramar’s deve lopment team works hand- in-hand with our c l ients , t racking markets , t rends and demographic preferences to des ign and de l iver sophis t icated products that success fu l ly a t t ract the target demographic . Our col laborat ive approach a l lows Laramar to be present a t every s tep, f rom project concept ion through des ign and s tabi l i zat ion.

By deve loping the community’s brand, des igning the unit s and inter iors , and programming the amenity packages , we br ing our deta i led knowledge of the marketplace , as wel l a s our creat iv i ty, to the table . The resul t i s a s t rong, market- leading product , where our pract ica l knowledge leads to e f f ic ient f loor p lans , more engaging amenity spaces and a bet ter overa l l bui ld ing per formance. These achievements a l low our c l ients to see the va lue of Laramar’s par t ic ipat ion in a bui ld ing’s deve lopment .







INTERACTIVE WEB/MEDIAINTERACTIVE WEBSITELaramar des igns , bui lds and executes custom landing pages and webs i tes . We incorporate advanced technology into our programming to ensure that the webs i te i s spec ia l ly des igned for the community. We unders tand that each proper ty i s unique, and we apply that knowledge to our management and market ing. This focused approach di f ferent iates us f rom our compet i tors .

Laramar works with severa l webs i te vendors , in addit ion to our webs i te par tners Entrata and Blue Moon. These par tnerships a l low us to of fer a fu l ly integrated, onl ine leas ing exper ience . Since 88% of Mil lennia l s use mobi le devices as the i r pr imary search tool , Laramar captures thi s demographic by creat ing a respons ive webs i te des ign that of fers seamless navigat ion f rom desktops , tablet s or smar t phones .

Our exper t i se he lps us create a webs i te that conta ins a focused, personal connect ion with the des i res of our core audience . Our webs i te provides the abi l i ty to search for that per fect apar tment home by pr ice , f loor p lan or square footage . With s tate of the ar t technology such as 3D animat ion, prospect ive res idents can go f rom tour to lease execut ion a l l f rom their mobi le device .

ENTRATALeads are t racked and managed through Entrata’s s i te fac ing sof tware , Prospect Por ta l . The leas ing team i s able to v iew and manage the i r l eads or scheduled fo l low up for the day upon logging into the sys tem. Associates can send e-mai l s about a spec ia l incent ive , ava i lable unit type, or provide opening s tatus updates to a group of prospects which i s he lpful dur ing the lease up as the lead data base i s generated pr ior to opening. Appl icat ions can be submitted onl ine and are integrated with our Res ident Screening provider and Yardi . Prospect ive res idents rece ive immediate resul t s on the i r approval s ta tus . Once approved, they are able to rev iew and s ign the i r l ease e lectronica l ly with Manager approval . They are then e-mai led a PDF vers ion. E- leases are s tored on both the Entrata and Laramar ser vers to ensure copies of the document are ava i lable i f needed.

RESIDENT PORTAL The Res ident Por ta l a l lows for onl ine rent payments v ia ACH or credi t cards and submiss ion and tracking of ser v ice request s . Leas ing Associates can add, rev iew and edi t res ident informat ion for the onl ine account . The Por ta l a l lows for res idents to send emai l s to s ta f f , c reate work orders , submit rev iews, p lace c las s i f ied ads and add soc ia l groups .

Prospect ive res idents can request informat ion v ia Live Chat funct ional i ty or submit an onl ine guest card for more informat ion. For prospects t r y ing to get a fee l for the i r new neighborhood, we of fer interact ive maps which a l low them to see proximity to loca l conveniences through walk, b ike and trans i t scores . Prospects can pr int an e lectronic brochure , conf i rm pet pol ic ies and check rev iews.

IPADSTo meet the demands of the increas ingly sophis t icated renter, Laramar uses iPads with Si te Tablet capabi l i ty to provide a v i r tua l l eas ing desk f rom any locat ion. This provides immediate access for customers , and a l so provides a fas t and ef f ic ient way to spend t ime v iewing the features and amenit ies of the community. iPads a l low leas ing profess ional s to create a more personal , interact ive and fun exper ience . Consul tants can check ava i labi l i ty, pr ic ing and ass i s t appl icants with apply ing onl ine f rom the Wi-Fi café or throughout the tour instead of s i t t ing at a t radi t ional leas ing desk.

VIRTUAL RENDERINGSVir tua l render ings provide prospect ive res idents a greater leve l of deta i l and ass i s t s with pre leas ing ini t ia t ives . Li fe l ike images di sp lay the f loor p lan layouts , amenit ies and apar tment home f ini shes .

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a v a i l a b i l i t y &P R I C I N G

T r a n s l a t e | R e n t a l C r i t e r i a | L a r a m a r C o m m u n i t i e s , L L C | © 2 0 1 2 L a r a m a r G r o u p . A l l r i g h t s r e s e r v e d .

P r i v a c y P o l i c y | T e r m s o f U s e | S M S T e r m s a n d C o n d i t i o n s




PINTERESTUsers can add a “Pin i t” button to the i r browser and then se lect and “pin” onl ine images to v i r tua l Pinboards , re levant to the proper ty. Cl icking on an image wi l l take you to the or ig ina l source , users can browse or search for image content and can fo l low the boards of other users and can “ l ike” or repin other users’ p ins . Pinteres t i s a great tool in get t ing a v i sua l message across to res idents and prospects – i t a l lows the leas ing team to share mult ip le images in one place , and g ives the res idents something to des i re . In addit ion, i t ’s an added benef i t to the proper ty when discuss ing SEO.

CRAIGSLISTCraigs l i s t i s a major source of t ra f f ic and we use Entrata and Rent Sent ine l to keep ads f resh. These programs a l low us the abi l i ty to dr i l l down and see what ad s ty les , t i t l e s , photos , pr ic ing or template des igns are the most success fu l so that we can adjust to generate the best response . According to a recent J Turner Research survey, Cra igs l i s t ’s presence in major metros generated the highest rents per month of any lead.

FACEBOOKFacebook’s t imel ine des ign i s per fect for the launch of a community. The abi l i ty to show progress ion photos and t ime lapse v ideos gets fo l lowers exc i ted about the grand opening. Linking a v i r tua l v ideo tour or construct ion progress v ideo to QR codes on banners by the s i te or other s t rateg ic locat ions i s another way to interact with potent ia l res idents dur ing construct ion. Facebook has more than 845 mi l l ion act ive users , with more than 50% of those users logging in every day. A community’s Facebook page should share informat ion and communicate with res idents and potent ia l res idents – pos i t ioning the bui ld ing as the p lace to l ive in the market .

TWITTERTwitter a l lows anyone with a Twitter account , or “handle ,” to make br ie f 140-character posts to the i r “fo l lowers .” The goal of these communicat ions i s to be par t of conversat ions with the i r fo l lowers , or with anyone who might be l i s tening in . Twitter i s a “go to” resource for quick-hi t t ing informat ion for a l l o f an organizat ion’s s takeholders , and i t presents a fantas t ic way to grow an even s t ronger fo l lowing for the community and to communicate with current and prospect ive res idents .

INSTAGRAMInstagram i s an onl ine photo-shar ing, v ideo-shar ing and soc ia l networking ser v ice that enables i t s users to take pictures and v ideos , apply dig i ta l f i l ter s to them and share them on a var ie ty of soc ia l networking ser v ices . Users are a l so able to record and share shor t v ideos la s t ing for up to 15 seconds . Now par t of Facebook, Instagram provides an immediate and seamless way for the community to share i t s s tory, upload pictures and construct ion updates to prospects and res idents . Instagram i s par t icular ly e f fect ive with demographics who prefer to consume content v i sua l ly.

L A R A M A R ’ S S O C I A L M E D I A P R A C T I C E S :

• We v iew soc ia l media as an oppor tunity to l i s ten, par t ic ipate in conversat ions of interes t , generate a “buzz” about our proper t ies , share re levant content with our f r iends and fo l lowers , u l t imate ly growing a soc ia l fo l lowing for our proper t ies

• We ini t ia te d ia logue with the onl ine community v ia regular Facebook posts , tweets , ins tagram “ l ikes” and pinteres t boards

• Laramar ut i l i zes soc ia l media to gather and respond to res ident rev iews, both compl iments and potent ia l problems

• For new deve lopments , we feature construct ion photos and “sneak peeks” of the new apar tments to ent ice future res idents

• Laramar becomes par t of “t rending” conversat ions by tagging tweets with “hashtags” in the tweet

• As res idents move in , Laramar features “Home of the Month” photos of wel l -decorated spaces

• We share upcoming events and neighborhood act iv i t ie s such as s t reet fes t iva l s , sa les , res taurant openings and other events of interes t to res idents

• We begin f r iending and fo l lowing act ive soc ia l media users re levant to the proper ty, to fur ther grow a fo l lowing for the res idence ( rea l e s tate media contr ibutors/publ icat ions , industr y and loca l as soc iat ions , and inf luent ia l b loggers)

• Laramar s t r ives for cons i s tent and meaningful interact ion through soc ia l media to es tabl i sh more long term socia l interes t in our communit ies



MARKETING METRICS Laramar leverages technology by ut i l i z ing the most e f fect ive internet l i s t ing s i tes . We a l so use Google Analyt ics to analyze our pay per c l ick campaigns and track the number of v i s i t s prospects make to each webs i te we are l i s ted on. This he lps us bet ter unders tand which webs i tes g ive us the most exposure , and therefore are the most e f fect ive at reaching qual i f ied prospects .

Entrata of fers the abi l i ty to t rack how prospects hear about Laramar and our proper t ies . Var ious repor ts he lp us to see how ef fect ive ly each proper ty fo l lows up with leads by measur ing the rate of outgoing emai l s and the convers ion rates of phone ca l l s to appointments . These deta i led repor ts he lp Laramar bet ter unders tand each proper ty and assoc iate’s per formance in the i r markets , and a l lows us to create a customized plan that wi l l ensure each community’s success .

MEASURING PERFORMANCE Dynamic Lead Tracking: The use of dynamic number inser t ion and guest card pars ing work to show the or ig in of a lead and track the e f fect iveness of market ing dol lar s be ing spent .

Google Analyt ics : Measur ing lead t ra f f ic to the Laramar webs i te i s cr i t ica l to unders tanding which market ing par tners and lead generat ion channels are per forming. Google Analyt ics i s not just a tool for measur ing webs i te h i t s and page impress ions – we t rack macro convers ion events on the webs i te , such as emai l form complet ions , as wel l a s micro convers ion events , such as map v iews, f loor p lan v iews and emai l form abandons . These micro events happen with much higher f requency and are typica l ly more indicat ive of a qual i f ied prospect ive customer.

MANAGING LEADSProperty and Leasing Agent Per formance: The Entrata p lat form a l lows us to monitor indiv idual proper ty and leas ing agent per formance. Lead Convers ion, Proper ty Per formance, Leas ing Agent Per formance and Cal l s Convers ion Repor ts g ive us the tools to ensure leads are be ing worked and leas ing ve loc i ty i s opt imized.

Triggered Email Campaigns: E-mai l i s a power ful tool to keeping prospect ive renters engaged and the apar tment community “top of mind” dur ing the research phase .


Reputat ion Management i s an important aspect in deve loping the community brand. Laramar encourages feedback f rom our res idents on s i tes such as apar tmentrat ings .com and Yelp ! In a recent onl ine survey which inc luded Laramar res idents , 57.9% of 25-34 year o lds indicated the i r dec i s ion on where to rent was inf luenced by rat ings and rev iew webs i tes . Not only do these post ings improve organic SEO, they of fer an oppor tunity to monitor our per formance leve l s and quickly ident i fy and reso lve customer ser v ice concerns .

APARTMENTRATINGS.COM & YELP!Laramar centra l ly monitors feedback f rom apar tmentrat ings .com, Yelp ! and our company webs i te to as s i s t on-s i te teams with per formance t rends and customer responses . We respond to a l l compl iments and suggest ions so res idents know that the i r voice i s be ing heard.

RESIDENT FEEDBACKMarket ing campaigns to request feedback f rom prospect ive and current res idents are in p lace for a l l communit ies . A recent Sat i s fact s s tudy about the onl ine habi t s of prospect ive res idents showed that 67% were not aware the i r community had a soc ia l channel . To promote our soc ia l presence , we so l ic i t feedback f rom potent ia l and ex i s t ing customers . Pr inted cards are g iven fo l lowing a community tour asking prospects i f they “Liked” what we are doing or how we are doing i t , to p lease provide the i r feedback on Yelp or Apar tment Rat ings .com. When res idents log in to the i r res ident por ta l on the webs i te , reminders appear to request a rev iew of the community. Res idents are a l so provided with reminders and oppor tunit ies to submit rev iews in amenity spaces such as bus iness centers , res ident lounges or Wi-Fi cafés . Fina l ly, we encourage res ident feedback and communicat ion on our webs i te and soc ia l media accounts .


C a s e S t u d i e s Fe a t u r i n g : N o r t h Wa t e r, C h i c a g o / / D o c k S t r e e t F l a t s , M i n n e a p o l i s / / B r i d g e y a r d A p a r t m e n t s , A l e x a n d r i a / /


50th Floor Plan 3/16” = 1’-0”

L E V E L S 15 - 50

L E V E L S 1 - 14



Dock Street Flat s i s another new addit ion to an a l ready bust l ing Minneapol i s area . The proper ty i s a mixed-use deve lopment located in the North Loop neighborhood, r ight next to the Cedar Lake Bike Tra i l that fo l lows the ra i l corr idor of the Northstar commuter ra i l . Minneapol i s i s proud of i t s b ike t ra i l s , and in a c i ty that pr ides i t se l f on i t s v ibrancy and commitment to hea l th , Dock Street Flat s embraces that t rend as wel l . The community creates a l ive-work-play neighborhood in an urban environment , and i t s locat ion i s the per fect f i t for thi s p lan.

Dock Street Flat s began pre- leas ing in September 2013, in a market that saw a deve lopment boom - a lmost 800 new unit s were de l ivered around thi s t ime. Dock Street Flat s welcomed i t s f i r s t res idents in December 2013, and achieved i t s target to hi t s tabi l i zat ion by August 2014! Ef fect ive rents averaged $2.17 psf, r ight on target with underwri t ing project ions , and have increased s ince .

Laramar’s Preferred Employer Program was incredibly e f fect ive dur ing the lease up, with over 35% of new leases secured f rom the pos i t ive re la t ionship between Laramar, major employers and loca l f i rms such as Target , Oakwood, 3M, Medtronic , Genera l Mil l s , U of M and Carmichae l Lynch.



B R I D G E Y A R DA P A R T M E N T S//ALEXANDRIA, VA R E D E V E L O P M E N T In March 2013, Laramar acquired Hunting Point Apar tments , a 530 unit proper ty in scenic Alexandr ia , VA. The proper ty i s s i tuated a long the Potomac River with mi les of running and biking t ra i l s , o f fer ing res idents numerous oppor tunit ies to enjoy the outdoors .

Our bus iness p lan capi ta l i zes on the locat ion, as wel l a s the deferred maintenance at the proper ty to enhance res idents’ l iv ing exper iences . Our $14 mi l l ion renovat ion plan inc ludes replac ing the windows in a l l uni t s , renovat ion of a l l uni t k i tchens and baths , enhancing the ha l lways and common areas with new carpet ing, pa int , l ight ing and furni ture , as wel l a s upgrading a new leas ing and amenity center. The pool area was upgraded with the addit ion of a pool house lounge area for res idents .

To date , Laramar has completed numerous capi ta l projects . Our team has re-piped the domest ic water l ines and added control s to the boi ler sys tem. Windows have been replaced in both bui ld ings and e lectr ica l replacements are complete . The lobbies and hal lways in one bui ld ing of the proper ty have been upgraded, inc luding new f loor ing, carpet , furni ture and paint , and these upgrades are underway in the second bui ld ing. To date , 176 unit s have been renovated in one bui ld ing, and 86% of those unit s are leased and occupied. In the past s ix weeks , the team has secured 44 leases , averaging seven leases per week. Fur thermore , we have at ta ined c i ty approval for the des ign and construct ion of a new c lubhouse that wi l l host a leas ing center, community room, f i tness center and outdoor amenity deck, complete with BBQ areas for res ident use .

Fol lowing the acquis i t ion of thi s as set , Laramar launched a re-branding and re-pos i t ioning campaign to appea l to our target demographic . This inc ludes a new name, Br idgeyard Apar tments , a s wel l a s updated col la tera l , s ignage and key l i fe s ty le images that f i t the new brand. The proper ty’s market ing campaign inc ludes banners , A-frame s ignage , weekend open houses , d i rect mai ler s , s ign spinners , re ferra l s , aggress ive Craigs l i s t post ings and locater ser v ices . Planned res ident events inc lude “res ident breakfas t on the go”, pet “yappy hours” , pool par t ies , pr ivate f i tness c las ses and water hand-outs for runners and bikers .

During the month of September, seven former res idents re turned to the proper ty and 23 res idents t ransferred f rom their current un-renovated apar tments to renovated unit s . Res ident retent ion i s a focus with planned res ident apprec iat ion events as wel l a s t imely and ef fect ive communicat ion about the week’s renovat ion act iv i t ie s . Recent res ident rev iews have resul ted in a pos i t ive 83% rat ing on the proper ty’s rev iew webs i te .

BUSINESS PLAN:

• Replace 100% of windows

• Replace domest ic water sys tem • Rewire ent i re proper ty and upgrade ser v ice panel s in each unit • Kitchen and bath remodel and upgrade • Bui ld market- leading leas ing and amenity center

• Rebrand proper ty to inc lude a new name, s ignage program and logo

• Upgrade lobbies and bui ld ing entrances to be more modern and invi t ing


CAR SHARE PROGRAMS A Laramar Green Team program; implemented at urban proper t ies so that res idents can “check out” a car for shor t term use ; not only green but a l so a great amenity to of fer res idents

CUSTOMER SERVICE EMAIL* Complaints may be made to our des ignated Customer Serv ice E-Mai l Account at Res [email protected]. Res idents can use thi s to provide feedback to our management company. Al l i s sues are recorded in a Laramar Customer Serv ice Log and responded to and reso lved within 24 hours ( i f poss ib le) .

CUSTOMER SERVICE HOTLINE* Laramar has a Customer Serv ice Center se t up for a l l res idents to ca l l (1-888-4-LARAMAR) at any t ime and repor t any i s sues they may have . Al l i s sues are recorded in a Laramar Customer Serv ice Log and responded to and reso lved within 24 hours ( i f poss ib le) .

DUE DILIGENCE/TRANSITION DIRECTORA ful l t ime Laramar employee focuses on making sure that both due di l igence and management takeovers are smooth and seamless

ENERGYSTAR A federa l program to ident i fy energy e f f ic ient appl iances , bui ld ings and companies ; Laramar uses only EnergyStar appl iances on 100% of replacements por t fo l io-wide; Laramar has a l so been named an EnergyStar Par tner

QUALITY PROGRAMSAREA MAINTENANCE COORDINATORS (“AMCS”) Each reg ion has a des ignated AMC who i s the most exper ienced Serv ice Manager in the i r reg ion; the i r ro le i s to complete Laramar’s Quar ter ly Proper ty Inspect ions and ensure that Laramar’s Safety Management and Susta inabi l i ty Programs are be ing cons i s tent ly fo l lowed at every proper ty ; they a l so so l ic i t new ideas and once tes ted and proven these new ideas become the next Laramar Programs and are incorporated into the Operat ing Plat form through Shar ing Best Pract ices ; every new Serv ice Manager i s t ra ined by the i r loca l AMC, ensur ing cons i s tency of t ra ining throughout the organizat ion

AUM* A third-par ty res ident b i l l ing company that a l so provides energy management ; a l l b i l l s are rev iewed to ensure bi l l ing accuracy in terms of rates , taxes and tar i f f s ; in addit ion, vacant unit ut i l i t ie s are monitored to ensure that b i l l s are switched over to the new res idents the day they take occupancy which minimizes vacant ut i l i ty b i l l s and he lps dr ive NOI

BLOCKINGA quar ter ly process where our Nat ional Purchas ing Manager rev iews a l l purchas ing in the f ie ld (down to nuts and bol t s ) with a team from our maintenance and construct ion groups and ident i f ie s the most cost -e f fect ive products that the f ie ld should be purchas ing and then “blocks” a l ternate products with our nat ional suppl ier, Wilmar ; f ie ld assoc iates t r y ing to purchase b locked i tems are then re-directed to the approved products ; th i s program resul t s in s igni f icant expense sav ings


c las s room, smal l group, one-on-one, mentor, v ideo, audio, pre- and post- tes t ing and extens ive use of leading-edge web-tra ining technology

LEAD MANAGEMENT*This sof tware within Entrata’s Prospect Por ta l funct ion automat ica l ly creates guest cards as leas ing ca l l s and e-mai l s are rece ived and integrates d i rect ly with Yardi . Al l prospect e-mai l communicat ions and fo l low up act iv i ty are t racked within thi s sys tem. Leads are routed to the Leas ing Associate’s dashboard upon logging in so they can conduct regular fo l low up, t rack pending appl icat ions and onl ine lease execut ions .

LEASE EXPIRATION MANAGEMENT A process managed through LRO to ensure that the correct number of leases are expir ing each month based on projected supply and demand (summer vs . winter months) which reduces occupancy f luctuat ions and therefore fac i l i ta tes maximiz ing renta l ra tes and dr iv ing NOI

USGBC - LEED (LEADERSHIP IN ENERGY AND ENVIRONMENTAL DESIGN) Laramar i s a member of the U.S. Green Bui lding Counci l . In 2010 we achieved a LEED s i lver cer t i f icat ion a large San Francisco Proper ty, and in 2014 rece ived LEED Cer t i f icat ion for a mult i fami ly high-r i se bui ld ing in Chicago

LIGHTING RETROFITS* A Laramar Green Team program; replac ing l ight bulbs , f ix tures and ba l las t s with energy-ef f ic ient l ight ing and insta l l ing photoce l l s , t imers and motion detectors resul t ing in bet ter l ight ing qual i ty, in many cases bet ter curb appea l and reduced operat ing expenses ; payback on investment i s of ten les s than 2 years

ENTRATA* Laramar’s webs i te and proper ty management par tner ; Laramar ut i l i zes ca l l t racking and repor t ing, lead management , Cra igs l i s t ads and market ing, Prospect Por ta l , l eas ing center and lease execut ion, Si te Tablet , Parce l Aler t and res ident pay and Res ident Por ta l and work orders . Por ta l s a l low for res idents to send emai l s to s ta f f , c reate work orders , submit rev iews, p lace c las s i f ied ads and add soc ia l groups ; funct ions as a t ra ining tool with the leas ing s ta f f , a s wel l a s accurate ly p inpoint ing market ing e f for t s .

GREEN TEAM A cross sect ion of Laramar assoc iates that meet monthly to ident i fy and implement green ini t ia t ives throughout the por t fo l io

HUNTER WARFIELD Third par ty col lect ion agency; used only a f ter in-house col lect ion i s exhausted

INCENT* In-house deve loped leas ing compensat ion program that i s t iered and rewards top per formers

INTERNAL AUDITS Unannounced audit s per formed by Internal Audit Depar tment to ensure f inancia l integr i ty and compl iance with a l l Laramar Programs

KEYTRAK* Computer ized key control sys tem ut i l i zed at every Laramar proper ty

LARAMAR UNIVERSITY*Comprehens ive t ra ining program inc luding

PAYSCAN* A third-par ty ser v ice that a l lows Laramar to process and approve a l l invoices e lectronica l ly through the web great ly s t reamlining thi s process over what other companies do and creat ing bet ter control s

ONLINE LEASING* Laramar provides an onl ine leas ing oppor tunity for our communit ies through our webs i te . Prospects can f i l l out appl icat ions and s ign both new and renewal leases onl ine .

ONLINE SURVEYS* Laramar ut i l i zes Kings ley research, an onl ine survey process , to survey a l l tours , a s wel l a s a 10% sampl ing of current res idents . We a l so ut i l i ze i t to measure every move- in. This survey he lps us gauge our leas ing and customer ser v ice per formance and out l ines any areas needing improvement .

ONSITE* Third-par ty res ident screening and cr iminal background check ser v ice ; act ive ly managing thi s sys tem a l lows for maximum occupancy with the highest poss ib le res ident credi t prof i le .

POLICY & PROCEDURES MANUALS* All web-based with fu l l search funct ional i ty ; can be eas i ly updated and the f ie ld a lways has access to current informat ion

PREFERRED EMPLOYER PROGRAM A nat ional program that a l lows each proper ty to ident i fy spec i f ic employers in the i r area and of fer the i r employees d i scounts and spec ia l of fer s ; th i s program i s a great way to get access to the employees of these employers and he lps with outreach market ing

PRICING MANAGER Laramar has made an investment in hir ing an in-house Pr ic ing Manager who has extens ive exper ience in revenue management and pr ic ing; th i s pos i t ion manages both LRO and Yie ldstar and works c lose ly with the f ie ld on weekly pr ic ing ca l l s to ident i fy pr ic ing oppor tunit ies

RANKING REPORTS An exce l lent management tool used by Laramar to “s l ice and dice” the por t fo l io and ident i fy out l ier s and oppor tunit ies for improvement ; many key per formance indicators are measured and ranked monthly and then these repor ts are d i s t r ibuted to the f ie ld which inst i l l s a hea l thy sense of compet i t ion

LRO (LEASE RENT OPTIONS)* Leading-edge revenue management sof tware managed by Laramar’s in-house Pr ic ing Manager, that has resul ted in “revenue l i f t” of 3%

MAINTENANCE SHOP BAR CODES* An inventory control sys tem that a l lows for the easy t racking of inventory and order ing suppl ies

MAINTENANCE SHOP COLOR CODINGEvery Laramar shop uses a s tandard color coding sys tem so that as soc iates can move to di f ferent proper t ies and di f ferent reg ions and they immediate ly know how the shops are organized

MICROSOFT SHAREPOINT* Leading edge sof tware used for Laramar’s company-wide intranet ; th i s technology i s an exce l lent way to s tore and share informat ion throughout the company

NATIONAL PURCHASING PROGRAM A Laramar program that negot iates nat ional volume discounts on a wide var ie ty of suppl ies and ser v ices . Revenue share agreements are negot iated with nat ional providers of ser v ices such as cable , te lephone, h igh-speed Internet , l aundry and energy ser v ices to of fer Laramar res idents the best ava i lable technology and ser v ices a t compet i t ive rates and to deve lop revenue s t ream oppor tunit ies for the proper t ies f rom these programs. Our pr ic ing i s ava i lable to a l l o f the proper t ies in our por t fo l io. In addit ion to di scounted pr ic ing negot iated with our nat ional suppl ier s , Laramar holds quar ter ly “blocking” meet ings where a l l purchas ing i s rev iewed and the most cost -e f fect ive suppl ies are ident i f ied and suppl ies that are deemed les s cost e f fect ive are b locked and are not ava i lable for the f ie ld to order.

NATIONAL PROGRAMS AND ANCILLARY SERVICE MANAGER Laramar has a dedicated Nat ional Programs Manager that oversees th i s depar tment . The Nat ional Programs Manager works with var ious providers around the country to maximize revenue potent ia l and communicates/coordinates with the community manager as agreements are negot iated. We work with providers such as AT&T, Ver izon, Qwest , Comcast , Time Warner, Br ight House Networks , Coinmach, MacGray, Web, and others to provide you with the highest commiss ions and revenue s t ream we can negot iate . Overa l l contract compl iance i s t racked a long with monthly and quar ter ly revenue share and commiss ion payments . The revenue t racking spreadsheet i s d i s t r ibuted to the proper t ies on a quar ter ly bas i s .


RISK/SAFETY MANAGER Laramar has invested in a dedicated Risk/Safety Manager which resul t s in fewer Workers’ Compensat ion and l iabi l i ty inc idents a t the proper ty leve l and lower insurance premiums

SIEMENSLaramar’s susta inabi l i ty par tner ; focused on Susta inabi l i ty Standards and Purchas ing Guidel ines . The par tnership resul ted in a susta inable infras t ructure des igned to es tabl i sh the bui ld ing blocks for e f f ic ient and susta inable per formance throughout the l i fecyc le of Laramar’s proper t ies . Infras t ructure addresses replacement purchases made dur ing the normal course of bus iness a t Laramar’s proper t ies ; The purchase of products , mater ia l s and equipment dur ing the retrof i t or renovat ion process .

STAR TEAM Team of on-s i te and f loat ing assoc iates who have been ident i f ied as some of Laramar’s “best and br ightes t” who are ava i lable upon shor t not ice to t rave l nat ional ly to as s i s t with proper ty t rans i t ions , turnarounds , s ta f f openings and spec ia l projects ; Star Team members are eas i ly ident i f ied by the s tar on the i r name tags ; the Star Team i s coordinated by Laramar’s Ass i s tant Vice Pres ident

TABLET LEASING*Our webs i te a l so a l lows rea l t ime iPad leas ing technology. We be l ieve that much of the leas ing act iv i ty on new lease ups wi l l happen as prospects are tour ing the community. Leas ing team members can pul l up rea l t ime ava i labi l i ty and c lose a dea l a t any point on a tour r ight f rom their iPad.

YIELDSTAR*Leading web-based revenue management sof tware program; a l lows Laramar to ident i fy premium pr ic ing oppor tunit ies a t each proper ty ; ut i l i zed by the in-house Pr ic ing Manager


IDASHBOARDS A custom c loud appl icat ion which a l lows us to create and monitor mult ip le Key Per formance Indicators throughout our por t fo l io in an on demand set t ing. By analyz ing proper ty per formance by Region, MSA, Cl ient and Ownership, we can instant ly ident i fy and recognize any key out l ier s and monitor predict ive indicators to s tay on top of proper ty per formance on a da i ly bas i s .

LARAMAR’S WEBSITE Entrata i s Laramar’s webs i te par tner. Navigat ion through the webs i te by computer, tablet or smar t phone i s seamless and prospects are able to search ava i labi l i ty, current pr ic ing and submit appl icat ions onl ine . The Res ident Por ta l a l lows for onl ine rent payments , submiss ion and tracking of ser v ice request s and for res idents to re fer f r iends . Laramar’s use of iPads with s i te tablet capabi l i ty provide a v i r tua l l eas ing desk f rom any locat ion. It a l lows customers to spend more t ime v iewing the features and amenit ies of the community. Consul tants can check ava i labi l i ty, pr ic ing and ass i s t appl icants with apply ing onl ine f rom the Wi-Fi cafe instead of s i t t ing at a t radi t ional leas ing desk.

RESIDENT SCREENING All prospects are screened through Onsi te , a leading edge web-based sys tem. “Cut points” that determine at what leve l prospects are accepted, dec l ined or “accepted with condit ions” ( requir ing addit ional depos i t ) are managed by Laramar’s Pr ic ing Manager and the Regional Managers . Act ive ly managing thi s sys tem a l lows for maximum occupancy with the highest poss ib le res ident credi t prof i le . Al l prospects are screened for cr iminal background.

REVENUE MANAGEMENT Laramar ut i l i zes Lease Rent Options (LRO) and Yie ldstar, which are leading edge web-based revenue management sof tware programs. Laramar has an in-house revenue management exper t who i s in the pos i t ion of Pr ic ing Manager. Weekly “pr ic ing ca l l s” are he ld with each proper ty to rev iew LRO recommendat ions and ident i fy addit ional pr ic ing oppor tunit ies . Laramar ident i f ie s a l l premium pr ic ing oppor tunit ies and these premiums are ro l led into the rent on a unit -by-unit bas i s through LRO or Yie ldstar ; Laramar’s say ing for thi s i s “ i f there’s a preference , there’s a premium.” LRO has resul ted in “revenue l i f t” ( incrementa l revenue versus not us ing the sof tware) of approximate ly 3%.

TECHNICAL RESOURCESBUDGETING AND FORECASTING The annual proper ty budgets are pre- loaded at the corporate of f ice based on the proper ty’s h i s tor ica l and seasonal per formance, market research and corporate and proper ty leve l goa l s . The budgets are then sent to the f ie ld 90% complete and the RMs and CMs f ine tune the budgets f rom this point . Laramar’s deta i led rev iew process involves the f ie ld , the COO and the Director of Financia l Planning & Analys i s . The c l ient has f ina l approval on each l ine i tem of proper ty budgets .

This process resul t s in more cons i s tent and accurate budgets and does not burden the f ie ld with a severa l month budget process and instead a l lows the f ie ld to focus on proper ty operat ions . Annual proper ty budgets and forecast s are produced us ing Microsoft Forecaster, a leading edge sof tware program that a l lows for extens ive analys i s and sens i t iv i ty scenar ios . Laramar’s budgets take into account each lease t ransact ion and appropr iate pr ic ing s t rateg ies which produces very deta i led and accurate budgets .

COLLECTIONS The Col lect ions Manager’s success , a t each proper ty, i s t racked and measured on a Ranking Repor t every month. Col lect ions above 98%, 99% and 100% each month are rewarded with a t iered monthly col lect ions bonus (based on the percentage of the current month’s b i l l ings col lected in that month before account ing month end) . Outstanding amounts not col lected by account ing month end are s t i l l pursued but measur ing resul t s by thi s cut-of f date creates a sense of urgency for the Col lect ions Manager. Amounts deemed uncol lectable are turned over to a nat ional co l lect ions agency.

FINANCIAL CONTROLS All account ing funct ions are centra l i zed in Denver which a l lows for deta i led checks and ba lances . A centra l i zed account ing funct ion a l so a l lows for appropr iate segregat ion of f inancia l dut ies which creates s igni f icant e f f ic iencies . Al l f inancia l operat ions are monitored and tracked through Yardi and MRI and our fu l l ser v ice account ing, proper ty management and asset management depar tments . Laramar’s account ing depar tment ut i l i zes Yardi and MRI to s t reamline the reconci l ia t ion process which a l lows the accountants more t ime for f inancia l ana lys i s and proact ive problem solv ing. Both Yardi and MRI have a fu l l suppor t team at the Corporate of f ice to as s i s t a l l ons i te employees with i s sues or quest ions that may ar i se .



TECHNICAL RESOURCESSOFTWARE AND SYSTEMS Laramar suppor ts both Yardi and MRI plat forms, which are fu l ly integrated, web-based, f ront-end proper ty management and back-end account ing sys tems. Entrata i s Laramar’s webs i te provider, which a l lows for onl ine prospect and res ident payments through our webs i te , Proper ty Br idge and MRI Res ident Por ta l . Both Yardi and MRI have a fu l l suppor t team at the corporate of f ice to as s i s t a l l ons i te employees with i s sues or quest ions that may ar i se . Laramar has a fu l l team of both Yardi and MRI mentors in each reg ion to ass i s t with a l l t ra ining for new hires and ongoing t ra ining for a l l f i e ld employees .

SOPHISTICATED REPORTING SYSTEMSLaramar ut i l i zes extens ive and deta i led repor t ing sys tems to he lp us maximize our management capabi l i t ie s and ensure the success of each proper ty we are involved in . Laramar provides c l ients with a fu l l repor t ing package inc luding rea l t ime informat ion through MRI and Yardi , weekly repor ts and a comprehens ive monthly repor t ing package inc luding a l l f inancia l s ta tements and narrat ive owner’s repor t . Weekly repor ts inc lude occupancy, t ra f f ic , l eas ing, c los ing rat ios and projected exposure . The monthly repor t ing package , d i s t r ibuted to our c l ients e lectronica l ly, inc ludes comprehens ive “Ranking Repor ts” to t rack a wide range of metr ics , which are measured across the por t fo l io to quickly ident i fy out l ier s and oppor tunit ies for improvement .

These repor ts are analyzed by our Operat ions teams and are used to benchmark our success nat ionwide. Inc luded in these repor ts are an Expense Matr ix showing a l l expenses year to date , a Budget Compari son Year to Date repor t , a s wel l a s a Key Per formance Indicator (KPI) repor t . The KPI repor t provides “at -a-g lance” repor t ing for a l l Laramar proper t ies nat ionwide. These KPI repor ts of fer an addit ional layer of t racking proper ty act iv i t ie s . This repor t looks at each community indiv idual ly, and provides deta i led informat ion on res ident act iv i ty, revenue and expense management per unit , a s wel l a s deta i led f inancia l repor t ing. In addit ion, our repor t ing sys tems inc lude t racking rent and renewal t rends at our proper t ies . These repor ts focus on his tor ica l renta l act iv i ty year to date , inc luding computing the average rent for a move out versus a new lease . Using thi s repor t in conjunct ion with a deta i led repor t l i s t ing why res idents move out he lps Laramar s tay compet i t ive in the marketplace .

These repor ts g ive us the oppor tunity to unders tand and react to changing market t rends . This informat ion he lps us bet ter a t t ract and reta in res idents . We track renewals on a monthly bas i s throughout our por t fo l io , so we can look at t rends on a nat ional leve l as wel l . We fee l combining spec i f ic market data with nat ionwide t rends a l lows us to s tay ahead of the compet i t ion and unders tand trends at every leve l of the market .

Laramar a l so ut i l i zes iDashboards . This i s a custom c loud appl icat ion which a l lows us to create and monitor mult ip le Key Per formance Indicators throughout our por t fo l io in an on demand set t ing. By analyz ing proper ty per formance by Region, MSA, Cl ient and Ownership, we can instant ly ident i fy and recognize any key out l ier s and monitor predict ive indicators to s tay on top of proper ty per formance on a da i ly bas i s .




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