CapPackg_CA_7-30-18

E X C E E D I N G Y O U R E X P E C T A T I O N S CALIFORNIA

L U X U R Y | C O N V E N T I O N A L | S E N I O R | S T U D E N T | C O M M E R C I A L

CONTENTS

OUR STORY Regional Support Team..................................................4 Pinnacle’s Presence in Major Metro Areas. ..................7 Executive Leadership. ...................................................8 Client Relationships.......................................................9 Client Services Team. ..................................................10 National Presence........................................................ 11 The Pinnacle Philosophy..............................................12 Operations...................................................................13 Learning and Development.........................................15 Marketing and Communications.................................16 Facilities Services........................................................18 Revenue Management................................................20 Risk Management & Renter’s Insurance....................21 Client Reporting...........................................................22 Compliance & Internal Audit........................................23 Human Resources.......................................................24 InformationTechnology................................................25 Sustainability................................................................26 CONTACTS

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P I NNAC L E

2

OUR STORY

EXCEEDING YOUR EXPECTATIONS Pinnacle is a privately held organization that manages multifamily and office properties nationwide. Established in 1980, we are the third leading service provider on the NMHCTop 50 list with a portfolio of 165,000 units and 4,100 employees. Our clients -- comprised of pension funds, private partnerships, international investors, insurance companies, lenders, developers, government agencies and high net worth individuals -- continue to reinvest in Pinnacle because of our systematic ability to deliver maximum value for every asset. Our distinguishing culture also sets us apart. Asour binding force, Pinnacle’sculture isstrict enough todriveperformance but diverse enough to allow our team members to feel good about the work they do. This is what creates an unparalleled energy that our clients have come to rely on. Our teammembers are present because they want to be – and then they aim to impress as they accomplish great things.

The following is a snapshot summary of our managed portfolio:

• Residential management - 165,000 units

• Asset management - 30,000 multifamily units

• Revenue management - 52,000 multifamily units

• Commercial management - 2.75 million square feet

• Association management -16,000 units

• Student Housing - 17,000 beds

P I NNAC L E

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REG I ONAL SUPPORT TEAM

In California, Pinnacle manages more than 10,762 units across 52 communities.

CHRISTIAN H. DAVIS R E G I ONA L V I C E P R E S I D E N T - C A L I F ORN I A

• Over 25 years of real estate experience • Responsible for Pinnacle’s California operations and a portfolio of over 12,000 units • Licensed California Broker • President Elect of the San Diego County Apartment Association, Member of the American Sail Training Association • Pepperdine University graduate

MARK DEGRAFF V I C E P R E S I D E N T

Offices

• Over 22 years of industry experience • Responsible for the oversight of Pinnacle’s Northern California operations • California Real Estate License, Novogradac Tax Credit Certification • Graduated from California State University, Chico

NORTHERN CALIFORNIA OFFICE: 1990 N. California Blvd. 8th Floor, Suite 27 Walnut Creek, CA 94596 SOUTHERN CALIFORNIA OFFICE: 18500 Von Karman Avenue, Suite 540 Irvine, CA 92612

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REG I ONAL SUPPORT TEAM

• Over 30 years in the industry • Certified Property Manager MARK BAKKE R E G I ONA L P RO P E R T Y MANAG E R

CLAUDIA ARENAS R E G I ONA L P RO P E R T Y MANAG E R

• Over 10 years in the industry • Experience in a dynamic range of multi-family housing markets • California State University graduate

• Operations expert in Stabilized, Student, Lease- up, High-rise, Garden, Mid-rise Renovation, and Value Add • California Real Estate License • Proven leader in operations, sales, marketing, and customer service

FLAVIA RISIGLIONE R E G I ONA L P RO P E R T Y MANAG E R

PAULA NICHOLAS R E G I ONA L P RO P E R T Y MANAG E R

• 27 years of industry experience • Stabilized, Conventional, High-rise, and Mid-rise • Currently oversees a portfolio consisting of more than 1,600 units • IREM Certification/ARM, Member of the National Apartment Association, Orange County Apartment Association, and the California Apartment Association

• Currently sits on the 2017 IREM Board of Directors as Vice President of Community Services • Over 25 years experience in managing commercial business parks, single family homes, multi- family housing, high rise, and affordable properties • CPM Candidate and IREM National member • IICRC certified in Project Management and Mold Remediation

SELENA GILLETTE R E G I ONA L P RO P E R T Y MANAG E R

GABRIELA MCFARLAND R E G I ONA L P RO P E R T Y MANAG E R

• 12 years of industry experience • Stabilized, high-rise, mid-rise, mixed-use, commercial • Currently oversees over 900 units, including 360 Residences, a 213 unit mixed-use luxury high-rise in Downtown San Jose, which includes seven commercial spaces • Certified Defense Privatization Manager

• 28 years with Pinnacle • Former Regional Training Director, Pinnacle • Stabilized, affordable, garden-style, mid-rise, lease-up, and renovations product expert • Affordable Housing HCCP Designation • University of Utah Graduate

P I NNAC L E

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REG I ONAL SUPPORT TEAM

SOPHIE RIVERA-ROSADO R E G I ONA L P RO P E R T Y MANAG E R

• Over 20 years in the industry • TCACs, CCRM, LIHTC, and HCCP certified • Experienced in overseeing site renovations and construction

SARAH VILLANUEVA R E G I ONA L P RO P E R T Y MANAG E R

• Over 15 years of multifamily experience with a background in managing stabilized, value-add, lease-up and affordable properties • Responsible for overseeing a portfolio of properties in Northern California • Credentialed as a Tax Credit Specialist • Attending Cal State East Bay

TERESA GUTIERREZ R E G I ONA L P RO P E R T Y MANAG E R

• Over 16 years of industry experience • Experienced in managing a wide variety of assets, including conventional, lease-up, renovation, mixed use and affordable assets • Oversees a portfolio of conventional and affordable communities in Southern California • Managers over 600 units

DENNIS LOOR R E G I ONA L MA I N T E NAN C E D I R E C T OR

• 18 years of experience in new construction and property management • Experience includes garden-style, wrap, podium, as well as residential high rise buildings • Provides guidance and leadership to on-site staff to optimize customer service to our residents • Responsible for renovations and capital projects • Tasked with implementation of compliance and safety initiatives

ROSA MOCTEZUMA R E G I ONA L O F F I C E MANAG E R

• Over 10 years of operational, executive support, financial accounting, and acquisition & disposition coordination experience • Executive Assistant to Christian Davis, Regional Vice President • Responsible for overseeing the administrative team in California • California State University graduate

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P I NNACL E ’ S PRESENCE I N MAJOR METRO AREAS

CALIFORNIA 52 Assets / 10,762 Units

NORTHERN CALIFORNIA 19 Assets / 4,443 Units

SOUTHERN CALIFORNIA 33 Assets / 6,319 Units

SAN BERNARDINO

LOS ANGELES

LAKE TAHOE

ANAHEIM

SACRAMENTO

OCEANSIDE

WALNUT CREEK

SAN FRANCISCO

MODESTO

SAN JOSE

SAN DIEGO

P I NNAC L E

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EXECUT I VE L EADERSH I P

RICK GRAF CPM C E O & P R E S I D E N T

• Over 40 years of industry experience • Creates overall strategy and vision for the company • Member of NMHC, NAA, and IREM • Richland College graduate

ERIC SCHWABE E X E C U T I V E V I C E P R E S I D E N T

• Over 28 years of industry experience • Manages the company’sWestern Division portfolio • Member of NMHC and NAA • University of Washington graduate

• Over 28 years of industry experience • Oversees day-to-day operations and support services • Member of ULI, NMHC and NAIOP • University of Alabama graduate LARRY GOODMAN CC IM, RPA , FMA , MCR C H I E F O P E RAT I NG O F F I C E R

WOODY STONE E X E C U T I V E V I C E P R E S I D E N T

• Over 19 years of industry experience • Manages the company’s Eastern Division portfolio • Member of Texas Apartment Association, Advisory Council for Apartment Life • Graduate of Oklahoma Panhandle State University (BBA) and Criswell College (MDiv)

JOHN CARROSINO CPA C H I E F F I NAN C I A L O F F I C E R

• Over 37 years of industry experience • Oversees finance, accounting, technology, client reporting services and insurance operations • Member of American Institute of Certified Public Accountants • Seattle University graduate

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CL I ENT RE LAT I ONSH I PS

Our financial, institutional and government relationships strengthen our ability to provide clients with the most comprehensive, integrated property management services.

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CL I ENT SERV I CES

JEREMY EDMISTON S E N I OR V I C E P R E S I D E N T - C L I E N T S E R V I C E S

• Over 18 years of industry experience • Specializing in investment advisory, relationship management and due diligence (completed over 150,000 units) • Memberships: Regional Advisory Council for Apartment Life, National Multi Housing Council, National Apartment Association, Texas Apartment Association, Board of Trustees of Hardin Simmons University, Board of Trustees of Pantego Christian Academy • Attended Hardin Simmons University

AVERY SOLOMON V I C E P R E S I D E N T O F C L I E N T S E R V I C E S

• Over 14 years of experience as a performance- driven business leader specializing in multifamily investment opportunities • Experienced in sourcing investments, market research, asset valuation, due diligence efforts and opportunity analysis with value creation by maximizing asset performance.

STEWART HILL V I C E P R E S I D E N T O F C L I E N T S E R V I C E S

• MIT, Center for Real Estate • Boston University graduate

• Over 20 years of industry experience • Specializes in corporate & media relations, marketing and sales • Responsible for managing ongoing communication strategies with non profit, investor, agency and government partners • LeadershipTraining Dale Carnegie Institute

CORI MCLEOD V I C E P R E S I D E N T O F C L I E N T S E R V I C E S

• More than 25 years of fee and owner operated experience with extensive lease-up experience in Class A residential communities • Extensive knowledge in pre-development, development, lease-up, re-positioning, renovations and stabilized operations, as well as a strong background in property management accounting • Heavy oversight of mixed-use portfolios in several geographic Puget Sound markets • Central Washington University graduate

GINA SLATER V I C E P R E S I D E N T O F C L I E N T S E R V I C E S

• More than 15 years of real estate experience • Provides diverse expertise including lease-ups, new construction, renovations, acquisitions, asset realignment and large scale military transitions • Experience includes A, B and C portfolios consisting of both garden style and high-rise apartments • Attended Sacramento State University and holds a real estate license

P I NNAC L E 1 0

NAT I ONAL PRESENCE

W

Eric Schwabe | WEST

Tina Christiansen | WA

Christian Davis | CA

Brenda Gammie | WA

Deb Kopolow | AZ, NV

Deke Turner | WA Association Management

Russ Peterson | OR, UT

Jeff Gilson | WA Brokerage

Melonie Shamley | WA

RHAPSODY HQ

PINNACLE CITY LIVING HQ

E

Joe Springsteen | FL

Woody Stone | EAST

John Ferraccio | FL

Michele Butler | NORTH TX

PINNACLE HQ

Keith Tartamella | NORTHEAST

Tracy Slappey-Scott | CENTRAL TX

PINNACLE CAMPUS LIVING HQ

David Sorise | Pinnacle City Living

Kevin Charcut | MIDWEST

Greg Mark | EAST COAST

Ted Broadfoot | Pinnacle Campus Living

Amy Cooley | CO

Rob Martin | Rhapsody

Melissa Herrera | HOUSTON

P I NNAC L E 1 1

THE P I NNACL E PH I LOSOPHY

C OR E VA L U E S

OUR MISSION It is our privilege to exercise responsible stewardship over the assets that we manage and positively maximize the interactions with our teammembers, customers and clients.

OUR VISION “To exceed our customers’ expectations”

Pinnacle has an established foundation of experience, resources and partnerships which we acquired over the course of our 37-year history. We leverage this foundation to provide clients with superior products and services that are customized to meet their unique needs. Our Core Values combined with our national support services enables Pinnacle to immediately improve operations and increase the value of your investment.

PERFORMANCE We are measured on our ability to create value for our clients and shareholders

CREATIVITY We relentlessly pursue the delivery of innovative quality services

COMMUNITY Serving our community is at the heart of our team members’ priorities

SERVICE We put the interests of others ahead of our own

TRANSPARENCY Demonstrate honesty and integrity in everything that we do

P I NNAC L E 1 2

OPERAT I ONS

For over 37 years, Pinnacle has managed real estate properties across the country. Our operational teams collaborate with regional and national support to create strategic high-level business plans for clients and they execute those plans by utilizing innovative systems and processes. Throughout, Pinnacle remains focused on exceeding clients’ objectives and maximizing asset values.

EXCEPTIONAL PEOPLE The key to Pinnacle’s success is our team members. Our investment in on-going training and support tools enables us to attract the most talented people, enhance their performance and keep them motivated. The strength of our leadership and diverse expertise of our team members adds value at all levels of operations.

EXTRAORDINARY PERFORMANCE

Pinnacle’s operational strategies result in increased revenue, reduced expenses and enhanced asset value. We utilize a variety of checks and balances along with key performance indicators to focus daily on revenue growth and expense control.

OPERATIONAL STRATEGIES • Revenue Management • Benchmarking and TrendReporting • Marketing Velocity (Lease-Up) • Expense Control • Lease Renewal Tracking • Key Performance Indicators (KPIs)

KEY PERFORMANCE INDICATORS • NOI Growth Ranking • Controllable Expense Ranking • Revenue Growth Ranking • Regional Property Manager Ranking • Regional Property Manager Report Card

• Property Auditing • Market Analyses

• Property Repositioning • Regulatory Compliance • Sustainability Evaluation

P I NNAC L E 1 3

OPERAT I ONS

Pinnacle handles all aspects of property management for multifamily and office properties nationwide ranging from conventional market-rate and affordable property types to high-rise towers. Some of our essential areas of focus include integrated property management, accounting, marketing, leasing, and risk management. Pinnacle has a wide client base encompassing financial institutions, pension funds, private partnerships, foreign investors, sole owners and government housing groups.

PRODUCT TYPE • New Development • Mixed-Use • Value-Add • Affordable • Senior • Student Housing • Commercial • Association Mgmt

SERVICES • Property Management • Pre-Development / Lease-Up • Learning & Development • Marketing • Ancillary Services • Development & Construction • Client Reporting • Human Resources • InformationTechnology • Risk Management

• High-Rise • Mid-Rise • Garden

P I NNAC L E 1 4

L EARN I NG AND DEVE LOPMENT

High-level property performance is impossible without well-trained team members. Pinnacle created a state-of-the-art, comprehensive education program called The University of Pinnacle offering coursework specific to job roles. At hire, team members receive notifications about required courses they need to complete within a particular timeframe to orient and prepare them for each day. They must also finish a range of courses that require annual certification to keep them apprised of legislative and regulatory issues.

• Over 10 years of industry experience • Develops curriculum, creates national learning platforms and continually expands the functionality of Pinnacle’s Learning Management System • Member of National Apartment Association and the Association for Talent and Development • Appalachian State and North Carolina State graduate BETH LUQUES D I R E C T OR O F ORGAN I Z AT I ONA L L E ARN I NG & D E V E L O PME N T

UNIVERSITY OF PINNACLE OVERVIEW Based on job role, courses are offered on demand, in classrooms, one-on-one and through instructor-led virtual settings. • Customized critical programs respond quickly to legislative and regulatory issues

UP U n i v e rs i t y o f P i n n a c l e

• Proprietary programs and videos focus on business impact and results enhancement • Assessments measure learning transfer and provide opportunities for course feedback and discussion boards • Real time access to internal company and industry news and resource documents • Reporting and tracking of individual performance with assigned learning tracks, team member transcripts and certificates • Support for all corporate and on-site team members in a blended learning format • Opportunities to pursue advanced skills and career paths by obtaining competencies, badges, and industry certifications • Highly interactive and user-friendly Learning Management System • Dedicated team of highly qualified trainers and instructional designers

SHELLY TWIBELL NAT I ONA L T RA I N I NG D I R E C T OR

• More than 15 years of industry experience with a heavy emphasis in operations • Responsibilities include involvement with new technology rollouts, new property training, national learning project implementation and oversight of Pinnacle’s national trainers • Attended Central Methodist University and Missouri Southern State University

P I NNAC L E 1 5

MARKET I NG AND COMMUN I CAT I ONS

Pinnacle’s MarketingTeam has ad agency-level capabilities.These experts collaborate with the regional teams as well as third party companies to execute strategic marketing plans and digital campaigns through a variety of traditional, non-traditional and online mediums. Our brand development team takes in-depth market insight and intimate knowledge of each asset to create strong brand identities that resonate with the target markets. All collateral development can be facilitated through our preferred service provider, and we can coordinate printing, production banners and signage.

MARKETING TEAM SERVICES • Advertising, collateral development, graphic design, logo design and promotional items • Branding/rebranding materials • Online banner ads • Copy writing • Web design, architecture, development and hosting • Search engine optimization and search engine marketing • Social media

• Over 15 years of multifamily marketing experience • Oversees property marketing initiatives across all Pinnacle managed communities • Specializes in creative marketing, innovation, analytical analysis, and strategic planning • William Jewell College graduate GARIN HAMBURGER S E N I OR D I R E C T OR , NAT I ONA L P RO P E R T Y MAR K E T I NG

encore

Éilan’s beautifully appointed modern apartments are crafted with details in- spiredby classicTuscandesign, including hardwood floors and private balconies. These elegantly distinctive residences offer easy access to a complete range of amenities that make life simpler and more enjoyable.Whether a primary or secondary home, living at Éilan enables you to experience a sustainable lifestyle

APARTMENTFEATURES • Full sizeWasher&Dryer • StainlessSteelAppliances • GraniteCountertops inKitchens&Baths • 8’to 28’CeilingHeights • CeilingFanswithUniqueUplighting • BambooWoodFlooring orCarpet • BrushedNickelCabinetHardware • Walk-inClosets • Pendant&Recessed lighting • CherryCabinets without sacrificing luxury, quality or privacy.A range of spacious floorplans from 461 to 2,041 square feet await you atÉilan!Residents can choose from over 100 floor- plans options tomeet your everydesire!

SURROUNDINGAMENITIES • ResortStylePool • DanceStudio • ÉilanHotel&Spa • Weddings&OtherÉvents • Trolley • PuppyPark • PrivateÉventVenues • Dining&Shopping • FitnessCenter& IndoorLapPool • TennisCourts • BusinessCenterServices

unique.

P I NNAC L E 1 6

MARKET I NG AND COMMUN I CAT I ONS

BRAND DEVELOPMENT Without the right messaging, even the most impressive community is reduced to an example of unfulfilled potential and missed opportunity. Pinnacle’s brand development team takes in-depth market insight and intimate knowledge of the asset to create a strong brand identity that resonates with the target demographic. DIGITAL MARKETING More than 80 percent of people begin their apartment searches on the Internet. It’s vital that an upscale living community has a strong online presence. Pinnacle can provide a comprehensive digital marketing plan that includes everything from website development to search engine optimization to reputation management. In addition to our wide breadth of digital experience, Pinnacle has a constant finger on the pulse of that latest innovations in our ever-changing digital world.

A P A R T M E N T S

communitywithout the possibility of imitation, Landmark on Lovers provides residents with urban resort style living unmatched in Dallas. From luxury amenities to custom resident services,LandmarkonLovers in an address that every resident loves to call home.

A

C U L T U R E

LANDMARK U R B A N A P A R T M E N T H O M E S LOVERS ON LIVE THE LIFE YOU LOVE

L

ive likeyouareaguest in themostexclusivefivestarhotel.Ourwell-appointed

resort style amenities and resident services create an oasis in urban living.

Landmark on Lovers ismore than an address. It’s a destination.

COMMUNITY andmark on Lovers residents appreciate the best in life. They are fashion- forward, involved in the community and dedicated to their professions.These residents expect amodern and chic living experience and they want to be connected to their immediate and surrounding community.Theywill also appreciate the levelof detail providedby the Landmarkon Lovers concierge services. L

EXPER I ENCE

LANDMARK U R B A N A P A R T M E N T H O M E S LOVERS ON LIVE THE LIFE YOU LOVE

LANDMARK U R B A N A P A R T M E N T H O M E S LOVERS ON LIVE THE LIFE YOU LOVE

P I NNAC L E 1 7

CONSTRUCT I ON & DEVE LOPMENT SERV I CES

With over 140 combined years of experience, our team has completed more than 30,000 ground-up multifamily units across the country as well as mixed use, residential retail, office and hospitality projects with a construction value in excess of $1 billion. Our renovation expertise, ranging from full repositioning to disaster recovery, also spans over 25,000 units across the country.We offer full development services, consulting and due diligence, major asset preservation and disaster recovery. THE PINNACLE ADVANTAGE • National experience in pre-development, ground up construction and renovation • Regional representation with local market knowledge and expertise • Complete understanding of multifamily from concept to renovation and preservation

RAYMOND VAN BEVEREN S E N I OR V I C E P R E S I D E N T - C ON S T RU C T I ON & FAC I L I T I E S S E R V I C E S

• Over 22 years of industry experience • Oversees the Construction, Maintenance and Purchasing departments for Pinnacle • Active committee member of the National Apartment Association and member of the National Multi Housing Council • Southern Methodist University graduate

PARK POINTE NORTH 770 UNITS | RENOVATION ATLANTA, GA

KENT PLEMONS V I C E P R E S I D E N T - D E V E L O PME N T & C ON S T RU C T I ON S E R V I C E S

• Completed $2 million in extensive capital exterior renovations for the community. • Completed exterior renovations and updated resident amenities including tennis courts, fitness center, community room and pool. • Increased renewals by 9 percent, rental rates by 5 percent and revenue by 8 percent after takeover.

• Over 25 years of industry experience • Oversees development and construction operations for the company • Has completed over 30,000 ground-up units and renovated over 25,000 units for Pinnacle • Southern Nazerene University graduate; Central State University; TWU

P I NNAC L E 1 8

FAC I L I T I ES SERV I CES

MAINTENANCE Daily operations is performed by an industry leading team of onsite professionals challenged with maintaining each asset. Our service teams proactively develop programs designed to save operational dollars and perform critical tasks that other firms often outsource at a significant cost. To keep residents pleased, our maintenance teams handle in-unit service requests 24-hours a day. Pinnacle’s countless maintenance systems and internal controls help to reduce errors and operating costs by keeping quality in check. We also invested heavily in creating operations strategies, training programs, and support tools to increase performance, motivate team members and reduce risk. PURCHASING Pinnacle maximizes NOI for our clients by reducing expenses and implementing technologically advanced purchasing standards and procedures. Utilizing our network of national vendors, our team leverages the portfolio to negotiate robust partnerships that yield substantial savings. Our national purchasing power enables clients to benefit from preferred pricing on all contract services and maintenance supplies. Pinnacle is also very experienced with negotiating contracts, budgeting and implementing efficient cost control measures help keep expenses to a minimumwithout sacrificing quality or service. Some of the program benefits include: • Leveraging company size for volume pricing, discounts and rebates • Providing national influence to control costs • Flexibility to renegotiate individual “field” level contracts • Rapid identification of new trends and services to maintain competitive stance • Ensuring absolute transparency so that 100 percent of every discount is realized by your property • Providingexpertise inareasof telecomcontracts, deregulatedenergyprocurement and waste management

DAVID JOLLEY D I R E C T OR O F MA I N T E NAN C E

• Over 30 years experience in the multifamily industry with extensive experience in HVAC • Served on the Communications Advisory Board for NAA, NAAEI along with the ESCO Institute Board, and NAEI advanced Instructor • Certified Pool Operator Instructor and a member of the Refrigeration Services Engineer Society

BRIAN RACKLIFF D I R E C T OR O F P UR C HA S I NG

• More than 9 years of industry experience • Responsible for building the company’s national purchasing power to benefit Pinnacle’s properties and clients • State of Colorado Employing Broker Real Estate License • University of Southern Maine graduate

P I NNAC L E 1 9

REVENUE MANAGEMENT

Highly active in revenuemanagement, Pinnacle utilizesYieldStar and LRO to establish daily unit-level pricing based on the site level and demand of over 52,000 units. This partnership has yielded very impressive results for our clients. On average, these sites are outpacing market revenue growth, and while every property is unique, we are confident in the positive results. In addition, clients who participate in revenue management can take advantage of utilizing Pinnacle’s in-house pricing advisor.

CONNIE ALDAPE D I R E C T OR O F R E V E NU E MANAG EME N T

• Over 20 years of industry experience • Oversees the Revenue Management team of specialists and revenue enhancing processes for Pinnacle’s managed communities • Proficient with Rainmaker LRO, YieldStar, Yardi, Entrata, OneSite

P I NNAC L E 2 0

R I SK MANAGEMENT & RENTER ’ S I NSURANCE

RISK MANAGEMENT Multifamily and commercial properties are exposed to a wide range of risks, which when not adequately managed, can determine the financial viability of the asset. Pinnacle’s Risk Management department is dedicated to protecting your asset, liability exposures and reputation through a series of risk control, loss prevention and risk transfer programs. Whether the exposure arises from residents, vendors, guests, the media or natural disasters Pinnacle has controls in place to minimize the adverse financial impact those risks may present.

• Loss prevention and asset protection • Renters insurance • Vendor insurance credentialing • Emergency operations and life- safety • Media communications

JOHN CARROSINO, CPA C H I E F F I NAN C I A L O F F I C E R

• Over 37 years of industry experience • Oversees finance, accounting, technology, client reporting services and insurance operations • Member of American Institute of Certified Public Accountants • Seattle University graduate

RENTER’S INSURANCE Pinnacle has exclusively partnered with LeasingDesk Insurance Services to provide properties an innovative renters insurance program that saves money, protects the asset, and provides residents with a valuable and needed amenity. • Ensures coverages for both the renter and the asset • Reduces deductible expense from residents with no coverage • Save on the property insurance premium • Ancillary income when resident coverage lapse

P I NNAC L E 2 1

CL I ENT REPORT I NG

Pinnacle’s Client Reporting team is comprised of accounting, compliance and internal audit experts. Our team of professionals and CPAs provide financial information for all our managed communities in their requested formats, from cash basis to Generally Accepted Accounting Principles (GAAP) basis. Additionally, we have team members who play a vital role in supporting both the on-site and regional property management operations for the affordable housing communities managed by Pinnacle. Focusing on a culture of integrity and trust, our team also upholds and maintains efficient and effective operations addressing fraud identification and prevention through on-site reviews and investigations. Utilizing Yardi, our preferred property management software, the Client Reporting team is able to exchange information between managed properties, clients and the centralized accounting center in Orlando, Florida. The team also interfaces electronically with banking institutions. On-going software training and a software help desk is available to aid on-site property management staff with accounting activities.

SALLY MILTON S E N I OR V I C E P R E S I D E N T - C L I E N T R E P OR T I NG

• Over 33 years of industry experience • Oversees Client Reporting Center and over 140 accounting professionals for the delivery of quality financial packages to third-party clients • Member of NMHC, NAA, and and Active Board Member (Treasurer) for two Central Florida non- profits • University of Florida graduate

P I NNAC L E 2 2

COMPL I ANCE & I NTERNAL AUD I T

Pinnacle’s Compliance team provides onsite and regional support for the affordable housing communities we manage. Proactive and thorough in our approach, the team provides a consistent and efficient service that many of our competitors are not able to offer. Some of our specialties include:

• Section 42 Compliance SAIL • Bond • SHIP • HousingTrust • Rural Development

• Hope VI • RTC • AHL • HOME Programs • Various HUD • Local/State Community Development Programs

DAVID BALES S E N I OR V I C E P R E S I D E N T O F C OMP L I AN C E AND A F F ORDAB L E O P E RAT I ON S

• NSP • FSS

• Over 25 years of industry experience including affordable and conventional platforms • Oversees affordable housing compliance and regulatory governances, acting as a liaison between compliance and operations • Role also includes best practices in operations from an advisory capacity, new business development and client relations • Holds multiple designations in the multifamily and affordable housing sector including Certified Property Manager and Housing Credit Certified Professional • Attended the University of Georgia

The Compliance team stays up-to-date on the latest changes in laws, policies and procedures and maintains numerous designations and certifications to make sure specific standards are met in the areas of reporting; establishing income and set- aside requirements; monitoring; audits; record keeping; or working with HUD and other governmental agencies. INTERNAL AUDIT Pinnacle’s Internal Audit team conducts random financial desk audits at the property level as well as within the corporate organization and develops action plans to correct deficiencies. When audits and reviews uncover irregularities, investigations are conducted to determine discrepancies. Through their vigilant processes, Pinnacle’s internal audit team drives bottom-line value by eliminating operational waste, reducing cost and preventing loss.

P I NNAC L E 2 3

HUMAN RESOURCES

Pinnacle’s Human Resources department (HR) is a cornerstone that supports the firm’s principles of quality people, strong customer service, solid market knowledge, quality systems and support capabilities. The department offers professional consulting services, as well as programs designed to recruit and retain quality personnel. Pinnacle also utilizes HR information systems that meet the unique needs of the property management business. Pinnacle offers market competitive employee compensation and benefits packages, as well as orientation programs, training, performance management and other policies that support employee success and retention. By taking these steps the department has built a strong talent base of tenured team members, adding significant value to our clients.

ERINN CASSIDY V I C E P R E S I D E N T - HUMAN R E S OUR C E S

• Corporate and property staffing, on-boarding, training and retention support • Pre-hiring assessments • Competitive health care coverage • Performance management • Payroll services • Benefits administration • Employment law, unemployment & workers’ comp

• 19 years of human resources experience with 12 years in property management • Background in employee relations, talent

development and planning, training and development, performance management, recruitment, benefits administration, team building, and group facilitation.

• Senior Professional in Human Resources (SPHR); Senior Certified Professional in Human Resources (SHRM – SCP) • University of Washington and Seattle University graduate

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I NFORMAT I ON TECHNOLOGY

Pinnacle’s technology infrastructure provides team members access to a custom property management application environment, residents with convenient and innovative services and solutions, and clients with accurate and timely property and portfolio information. These technology systems are scalable and flexible to meet changing business needs and to ensure Pinnacle’s continued prominent position among the country’s leading real estate service providers. We continually research, develop and implement improved systems to deliver secure and effective technology to team members, residents and clients. The information technology department consists of Network Operations, Application Development, Property Transitions and Technical and Application Support and Administration. Pinnacle’s core preferred property management software is Yardi Voyager, an industry-leading web-based application designed specifically for property and asset managers, owners, investors and fund advisors in global residential and commercial real estate markets. In addition to the core system, Pinnacle’s property management technology offerings include: • Property websites • Online leasing

• 30 years of real estate industry experience • Oversees current information and technology systems and creates future strategies for the company • Member of NMHC, NAREIM, NCREIF, Microsoft IT Advisory Panel and Dallas Chamber CIO/CTO Forum • Grove City College graduate SCOTT MCCURDY S E N I OR V I C E P R E S I D E N T - I N F ORMAT I ON T E C HNO L OG Y

• Applicant screening • Online rent payments • Check scanning • Lead management • Revenue management systems • Utility billing • Vendor management • Business intelligence analytics • Custom reporting

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SUSTA I NAB I L I TY

Our team of sustainability experts work to implement and uphold eco-friendly building practices. Pinnacle is committed to sustainability and green planning for the properties we manage. Our dedication to conservation and the environment takes many forms, from extensive recycling programs and electronic communications to EnergyStar appliances in our homes. Our goal is to maximize return on investments through property efficiencies and performance, while lowering our energy consumption and carbon footprint.

GREEN INITIATIVES • Managing LEED certified buildings • Utilizing available energy efficient product rebate programs • Implementing sustainable operating practices • Reducing consumption of materials and products • Participating in green events

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CONTACTS

NATIONAL CONTACTS Rick Graf

REGIONAL CONTACTS Eric Schwabe Executive Vice President - West Ph. (206) 215-9840 eschwabe@pinnacleliving.com 2801 AlaskanWay, Suite 200 Seattle, WA 98121 Woody Stone Executive Vice President - East Ph. (214) 891-7854 wstone@pinnacleliving.com 5055 Keller Springs Road, Suite 400 Addison, TX 75001

President and CEO Ph. (214) 891-7846 rgraf@pinnacleliving.com 5055 Keller Springs Road, Suite 400 Addison, TX 75001 Jeremy Edmiston Senior Vice President - Client Services Ph. (214) 891-7868 jedmiston@pinnacleliving.com 5055 Keller Springs Road, Suite 400 Addison, TX 75001

www.pinnacleliving.com

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