The Connor Group Overview 
                        An industry-leading real estate investment firm
                        The Connor Group – through its funds – owns, operates and provides debt 
                        exclusively for the apartment industry. In business since 1992, we are a 
                        privately-held firm with more than $2.2 billion in assets and approximately 
                        12,000 multifamily units held in our funds (as of December 2019).
                          Experience                                           Current Markets
                          •  Over the last 26 years, acquired and 
                             operated more than 160 apartment                  Atlanta, GA          Austin, TX
                             communities in 14 markets                         Charlotte, NC Chicago, IL  
                          •  Raised more than $1.3 billion in equity and       Cincinnati, OH Columbus, OH
                             debt from investors (as of December 2019)         Dallas, TX      Denver, CO
                          •  Connor Group partners are typically the           Dayton, OH      Minneapolis, MN
                             largest investors in our funds                    Nashville, TN   Raleigh, NC
                                                                               Louisville, KY  Tampa, FL
                          Performance
                          •  Since 2014, we’ve sold $2.4 billion in assets 
                             and generated profits of over $680 million 
                             (as of December 2019). 
                          •  Our funds are performance-driven. As the 
                             manager, we’re only paid after our investors 
                             receive their principal and target return.
                                           Past performance does not guarantee future results.                                    2
       Many Alternatives…
       • Real Estate                      • Venture Capital
       • Oil & Gas                        • Private Equity
       • Renewable Energy                 • Timberland
       • Equipment Leasing                • Royalties
       • Artwork & Collectibles           • Tax Liens
       • Private Debt
                                                                          3
       “Good”Criteria
       • Manager invests their own money, with the same terms as others
       • Experience: Traceable track record specific to investment 
        strategy
       • Performance-based compensation 
       • Full transparency of underlying investments and strategy
       • Third Party audited financials by reputable CPA firm
       • Third Party custodian where applicable
       • Definable Exit Strategy
       • Minimal Leverage
       • Timeliness of Reporting
                                                                            4
                      Investment Strategy
                                                                  We’re specialists: we operate and provide 
                                                                  debt for apartments we own.
                                                                  •  Buy high-quality, well-located properties 
                                                                     that are underperforming (expenses, 
                                                                     resident retention, revenue, customer 
                                                                     satisfaction)
                                                                  •  We operate what we acquire- unlike 
                                                                     institutions
                     Terracina, Denver, CO                        •  Not a speculator- we make money by 
                                                                     improving the bottom line.
                                                                  •  People are our most valuable asset.  We 
                                                                     invest heavily in them through recruiting, 
                                                                     training, promoting, reward and 
                                                                     recognition.
                                                                  •  Operating cost structure- 20-30% lower 
                                                                     than industry averages
                                                                  •  High priority on customer satisfaction
                     West Village, Durham, NC
                                                                  •  Find new sources of revenue/profit
                     West Village, Durham, NC
                                                                  •  Provide debt, safely, to make capital              5
                                                                     improvements to increase property values.
                                                                  •  We’re the largest investors in our funds
                                                                                                  Sterling Place
                                       LOCATION:                                                Columbus, OH
                                       ACQUISITION DATE:                                                  9/9/17
                                       NUMBER OF UNITS/AGE:                                                          300 units / 1990
                                                                                                                
                                       PURCHASE PRICE                                                                        $32,500,000
                                       ANTICIPATED DEBT:                                                                     $25,285,000
                                       ESTIMATED INVESTOR EQUITY:                                                   $7,419,544
                                       PREVIOUS OWNER NET OPERATING INCOME:                                                  $1,209,000
                                       OUR STABILIZED NOI AFTER RE-ENGINEERING:                                              $2,521,000
                                                                                                                                                                                                                                               6
                                       LOAN TERMS: Interest rate of 4.035% for five years, three years interest only.
                                       OPPORTUNITY: This marks the third time we’ve acquired a property we owned before. Suburban Dublin, on a busy four-lane street, great                                                           drive-
                    by visibility. Rents are substantially lower than nearby competitors with similar units. Upgrade opportunities in a highly desirable                                                  location. Opportunities on 
                    expense control as well.
                                       —————————————————————————————————–———
                                       UNIT COST: $108,333 per unit     REPLACEMENT COST: $125,000 Estimated  per unit