West Village & The Legion

Investment Overview

West Village & The Legion represent a rare opportunity to acquire two newly constructed, institutional-quality multifamily assets in the fast-growing submarket of Festus, Missouri. With operational efficiencies already in place and a clear path to stabilized cash flow in a supply-constrained submarket, these assets offer compelling, risk-adjusted returns at a basis below replacement cost for both private and institutional capital. INSTITUTIONAL-QUALITY NEW CONSTRUCTION WITH DESIRABLE UNIT MIX AND FLOORPLANS Delivered in 2024 and 2026, West Village and The Legion feature institutional-quality construction with spacious one, two and three-bedroom floor plans. Units include oversized kitchen islands, soft close high-end cabinetry, and nine foot ceilings (1st floor) and vaulted ceilings (2nd floor). Community amenities include a resort-style pool, an oversized fitness center, and a gated dog park, appealing to a broad tenant base. OFFERED AT AN ATTRACTIVE BASIS BELOW REPLACEMENT COST Over the last decade, local ownership has perfected their development process, creating efficiencies that control costs but deliver where the tenant cares most. New ownership will benefit from these efficiencies at a basis materially below current replacement cost, providing long-term insulation from competition and downside protection. The extremely high quality, efficient construction is well-positioned to appeal to tenants over the long-term. STRONG DEMOGRAPHIC AND EMPLOYMENT GROWTH DRIVERS Festus has experienced 2% population growth every year for the last five years and shows no signs of slowing down. West Village and The Legion are well-positioned to capture continued demand, supporting strong absorption and long-term occupancy. This upward population trend is anticipated to continue, supported by Hardie Board’s groundbreaking of its largest global manufacturing facility—a $400MM investment located approximately one mile from West Village and The Legion—which will introduce over 240 new jobs to the area. Additionally, the recently approved $6 billion CRG backed data center will continue to push population growth forward, bringing over 150 permanent jobs. PRIME LOCATION WITHIN FESTUS SUBMARKET West Village and The Legion are strategically located between the prime restaurant, retail corridor of Festus and the main employment drivers. Specially, the properties services Mercy Hospital Jefferson and benefits from approximately 40 resident and fellow doctors every year, as well as other nurses and employees of the hospital. OPERATIONAL UPSIDE THROUGH INSTITUTIONAL MANAGEMENT The transition from local ownership to institutional management presents a clear opportunity to enhance operations. New ownership will have the opportunity to implement professional management and marketing practices, enhance operations and significantly push revenues as can be seen with recent sale of Stoney Pines (see page 16 for details). 352 UNITS ALLOW NEW OWNERSHIP IMMENSE SCALE AND IMMEDIATE CRITICAL MASS The combination of West Village and The Legion will allow new ownership to create immediate economies of scale through the acquisition of 352 units in a single transaction. Whether new ownership currently owns in the area or this is a first investment in the St. Louis MSA, acquiring West Village and The Legion will streamline operations and create a fantastic operational base for further growth.