Target Value-Added Project Acquisition Criteria

RedBridge Capital is actively acquiring appropriately-located student housing communities in the Western United States. We look for value-added opportunities where NOI growth can be achieved through enhancing on-site operations and implementing capital improvements and renovations.

THE FIRM'S GENERAL ACQUISITION CRITERIA INCLUDE:

Market: Western United States.

Property Size: 30-150 units.

Location: Within 0.5 mile of any major University or College campus (20,000+ enrollment).

Criteria: Value added assets with under market rents/operational upside within walking distance to campuses that will benefit from operational efficiencies and/or renovations/conversions.

Key School Markets: USC, UCLA, UC Berkeley, UC Davis, UC Riverside, UC Irvine, San Jose/San Diego/San Francisco State University, CalState Fullerton/Northridge/Long Beach/Los Angeles/Pomona, UNLV (Las Vegas), University of Washington, UT Austin, UT Arlington.

Investment Hold Period: 3 to 5 years.

Investment Size:  $5-50 million.

Financing: Ability to obtain new financing or assume existing debt through existing established lending sources.

Building Type: Garden-Style, Low/Mid/High-Rise, Dedicated Student Housing, Mixed-Use Apartments.

Property Class: Class A and Class B product; will evaluate Class C product in select circumstances.

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