With so many options to choose from, real estate investors are regarded as "easiest to find, most difficult to close". If you want your pitch to stand out, you've got to generate credibility, trust and a professional connection - within the space of an 8-minute pitch. Luckily, Unicorn's here to help. Because we've pitched hundreds of investors and (unlike others) actually raised capital for both publicly-listed and private companies, we know how to get a deal across the table in a way that's concise, clear and effective.

1. Confidential
OVERVIEW & INVESTMENT STRATEGY
Multifamily Real Estate
Investment

2. Confidential 2
§ Strong track record since 1989
§ 25% Internal Rate of Return to date
§ 9% Cash on Cash Return to date
§ Current portfolio >$600mm in 11 high-growth markets
§ 20 properties, more than 6,500 units
§ Proprietary Econometric Market Segmentation model
§ Seasoned, proven management team - >80 years’ combined multifamily
experience
§ Established industry relationships, strong deal flow, and a proprietary
underwriting model
§ Bringing the time-tested successful model to investors via fund
Attractive Opportunity to Invest in a Proven System

3. Confidential
Our Method
3
Subsegment, target
at neighborhood
level
Examine potential
transactions
Identify
geographies of
interest
Track and compare
key metrics using
Proprietary
Econometric model
Acquire property
(Potentially)
Refinance
Increase rents
(average rent
increase 20-30%)
Acquire additional
properties in area
for Economies of
Scale
High-ROI value-add
investment,
upgrade property to
Class B+
EXIT AFTER 3-7 YEARS
(market-driven)

4. Confidential 4
Buy performing assets at a good prices in the best markets using our proprietary data-driven
model, upgrade them to Class B+ with targeted investments, raise rents, refinance, rinse & repeat.
Class C+, B-, B properties, 200-500 units
Deal Criteria
Geography-agnostic; markets ranked and evaluated by Proprietary Econometric Model
Performing properties
(~92%occupancy at acquisition)
Sweet spot: $15 - $35 million acquisition
75%-80% LTV, non-recourse debt
Capex funded with equity
Total investment (acquisition + capex investments)
70%-80% of Replacement Value/After-Repair Value

5. Confidential 5
Case Study
REFI VALUE-ADD - 528 UNITS, BUILT 1985
$1.49M upgrade, $300K of exterior and $984K of interior upgrades (264 apts. / $3.6k ea.).
Appliances
Faux wood flooring
Paint cabinets
Plumbing fixtures
Lighting
Exterior doors
Before After
* Est. based on 5.45% current market cap. Assumes debt carried to maturity (no defeasance).
RETURNS
Average Operating 8.5%
Total Operating 20.2%
Refi. Distribution 38.9%
Appreciation 229.0%
Total Return 288.1%
IRR 64.6%
PURCHASE CURRENT*
DELTA
Date 5/15 9/17 43 Months
Price $47.0M $78.6M +77%
$/Unit $89.0K $148.9K +77%
NOI $3.0M $4.5M +51%
Amenities

6. Confidential 6
Track Record of Success
TWIN PINES:
Purchased for $33.6m (Nov. 2011)
Sold 3.6 years later for $59.2m
Total return 209.8% / 58% annual return
HERON WALK:
Purchased for $30.4M (Nov. 2014)
Sold 28 months later for $45.4m
Total return 186% / 80% annual return
2002-
2017:
2011:
2012-
2017:
Today:
Property Management: 151 employees
who professionally manage circa 7,000
units, including for third party investors
Acquired 57 properties totaling $840M
in asset value
Began purchasing value-add properties
16 Value-Add Acquisitions now
complete for $386.3M with 6,068 units

7. Confidential 7
Existing Property Portfolio
0%
2%
4%
6%
8%
10%
12%
14%
16%
D
allas,TX
C
olorado
Springs,C
O
Atlanta,G
A
M
SA
R
aleigh/G
reensboro,N
C
C
olum
bus,O
H
1Y Job Growth 1Y Rent Growth
Population Growth 2010-2016 1Y Per Capita Income Growth

8. Confidential 8
Market Selection Process
§ Since our founding in 1989, we have focused market
selection and investment decisions on the results of our
time-tested econometric model
§ We use relevant statistics to track and compare over 35
key metrics in 275 MSAs (Metropolitan Statistical Areas)
§ Through a stringent weighting process, the econometric
model highlights the importance of key factors year-to-
year
§ Global macroeconomic conditions, global capital flows,
migration patterns, job growth, affordability, and State
taxes and regulations
§ Threats and opportunities that exist for multi-family that
could stem from social, legal, economic, political and
technology are also analyzed.
Age of Multi-
Family
Properties
Income
Brackets
Crime Rates
PROPERTY
SELECTION
FACTORS
Job Type
Millennial
Preferences
Unemployment
Disposable
Incomes
Job Specific
Location
Areas

9. Confidential 9
Fund Key Stats
First Fund
§ $100m in 2018
Acquire
§ $300m-$400m multi-family
§ Early absorption markets
§ Principal 10% investment Returns
§ Target Cash-on-cash 7%
§ Target IRR 16%
§ 7 year life of fund
Goal: Generate market-beating returns for investors, just like we have since 1989.

10. Confidential 10
Why Invest with Us?
PROVEN STRATEGY
Investment strategy that
has been consistently
applied for great investor
returns.
LEADERSHIP
Combined total of 80+
years of multifamily real
estate experience.
PERFORMANCE
Since the beginning of
our focus on value add
multifamily we have
achieved an annual
return of 25%
Our vision and focus for the next 7 years:
Continue to acquire strong performing assets consistent with strategy for long-term
growth
Maintain investor IRRs of 16%
Maintain annual Cash-on-cash returns 7%%
Continue to provide strong management practices to drive income return
No style drift: Our focus and expertise is on value add multifamily real estate

11. CHECK OUT MORE OF
OUR WORK ON OUR
WEBSITE!
WWW.UNICORNBUSINESSPLANS.COM
hello@unicornbusinessplans.com
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BUSINESS
PLANS AND
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