Confidential
Transcript: Real Estate Investment Aerial from 4-25-14 Stoneleigh Growth Over the Years Debt Collection Agency Geographical Performance 1Q14 Waterford Texas – Midland Growth Waterford on Tatum - Phoenix LG Trust Trust u/a/d 7/7/94 Richard F. Cavenaugh Trustee New Developments (2011-Present) Insert Ox Blue Camera 1 elapsed National Licensing Platform Accreditation is key with CFPB Survived the Consumer Finance Crisis (ongoing) Affiliation with Firsel Law Group marginal to date Distributions to date = $400,000 in 2013 (-0- in 1Q2014) Goal is to grow collection business as primary focus with legal affiliation being secondary, develop solid revenue growth, then sell agency in 3-5 years 10,576,954 10,900,518 Other Business Summary There’s Only 7 Months Left in 2014! Sell Waterford Hills 6/22/14 Source Institutional Equity Partner for One Dallas and close construction loan by July. Time is of the essence. List Waterford on Tatum for Sale 4) Look for 1 or 2 more accretive acquisitions in 2014 Continue Arlington Downs renovation. Begin leasing 2Q14. Get to refinance or sale ASAP. Start Leasing on Waterford Springs July 2014 Start Leasing on Waterford Glen in 4Q14 Sell M2 by 4Q14 or 1Q15 Start Waterford Trails I 4Q14 New business: One Winnetka, Sears, St. Regis, ADR II, Waterford Springs II Change in Gross Income After Renovations Mark S. Holacek Trust u/a/d 8/16/07 Mark S. Holacek Trustee Multi-Family Acquisitions and Development - 3,610 Units Currently Operated - 38,121 + Units of History Operating Properties The Bridge Orlando, Florida Rick Cavenaugh President/CEO May 22, 2014 Portfolio Occupancy SC Equities, LLC Stoneleigh Growth Equipment Finance Add Simple Waterford Trails Info. NOI vs. Budget 1Q14 Stonewood Ranch, Sanger, TX – SOLD (24% loss) Boca Vista, Altamonte Springs, FL – SOLD (20.5% IRR/1.98X) Waterford Hills, Charlotte, NC – UNDER CONTRACT (38% IRR/2.75X) Waterford Park, Converse, TX Waterford Ranch, Midland, TX Waterford Place, New Braunfels, TX Waterford Ridge, Schertz, TX Waterford Landings, Clarksville, TN Waterford on Tatum, Phoenix, AZ – LISTING SOON (30%+ IRR/1.5X) Waterford Lakes, Midland, TX Waterford at North Park, Midland, TX Dominion Town Center, Keller, TX Lakes of Stone Glen, Keller, TX Middlebrook Farms (Waterford Creek), Orlando, FL Stonecastle, Orlando, FL Totals: 15 Properties, 3,636 Units, $325mm Cost 2014 Trustees Meeting Collection Agency Historical Revenue Budget Update $42.5mm Total Budget $41.9mm Final Cost Leasing Update 195 Leases Signed $1.42 sf average lease rate $1.31 sf pro forma lease rate Before Renovations Market Fundamentals 96% Occupied Renovations Complete Effective Rent $/SF Pickup Sale Consideration Acquisitions (2009-Present) HM Holdings I, LLC Stoneleigh Development Company Budget Summary Land $ 4,008,732 Hard Costs 30,603,015 Soft Costs 7,388,253 Total Budget $ 42,000,000 Opening Marketing Trailer 6/1/14 Insert OxBlue Budget Summary – Tower Land Contribution $ 8,000,000 Hard Costs 44,981,548 Soft Costs 9,899,000 Total Tower Costs $62,880,548 before Recapture After New Exterior Paint Development Projects Total Portfolio Equity Summary Portfolio Performance 1Q14 Waterford Lakes (278u) & Waterford at North Park (200u) Renovations Completed (fire rebuild at WNP due 11/2014) Waterford Ranch is the top performer in the Portfolio New supplemental loans for all 3 properties? Renewal Analysis Real Estate Investment Before Exterior Paint SC Real Estate Advisors, LLC Loan Maturity Timeline Ryan to get new interior renderings HM Stoneleigh Holdings, LLC New Antics Average Occupancy by State Stoneleigh Finance Partners II – In 2012, we acquired $240,000 of telephony assets for SRA and leased back. Bonus depreciation has basis <$0. Three months left on monthly payments and will terminate by end of year at 12.5% IRR. New Antics – Holds patent on video-in-video technology. Settled patent troll lawsuit in March. In play with VC firms in CA along with Muse VFX. Mezzanine Loan Mezzanine Loan Amount $12,120,000 Interest Rate 14.5% Term 30 Months Maturity 11/24/2015 Income Growth from 4Q13 to 1Q14 Effective Rent $/SF with Occupancy %’s Capital Strategies Waterford Properties in Texas – Midland Property Manager of all properties @ 4% Subcontract property operations to Greystar at 2.75% 5 employees 3 regions – IL, SE (Lisa Williams) and SW (Cindy Owens) Centralized Marketing - SWHQ Quarterly/Annual Reporting - SWHQ www.waterfordresidential.com Property Management Waterford Glen Traffic Analysis Development Summary Land $ 7,012,916 Hard Costs 54,976,356 Tenant Improvements 3,724,700 Soft Costs 8,702,741 Contingency 1,765,313 Total Development Cost $ 76,182,026 Close on Land July 15, 2013 Start Construction 2nd Quarter 2014 HM Holdings I, LLC Development 75% Acquisitions 25% Select Opportunities to Sell Assets Continue to seek institutional capital providers Utilize existing construction lender network Confidential Budget Summary Land $ 1,398,717 Hard Costs 22,706,280 Soft Costs 2,954,227 Total
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