1. Greystar Real Estate Partners Bay Area Management, Investment, & Development Overview
16th Annual Developers Forum
Bay Area Apartment Association

2. Overview
Based in Charleston, South Carolina, Greystar has a presence in over 88 markets nationwide supported by 16 city offices. With multiple lines of business and over 170,000 units managed across the United States, Greystar’s vertically integrated business model leverages expertise across multiple disciplines to provide turnkey solutions and seamless execution. Since inception in 1993, Greystar’s focus has been solely on multifamily real estate – a focus that is maintained today.
OVERVIEW OF THE FIRM –
Multifamily Property Management and Ownership experience since 1976
Current portfolio of over 170,000 apartment homes in 88 markets across the country
Predates: Glacier Real Estate Services adding 32 assets in Washington and Oregon and is managed by a team of 130 associates.
THE 3 FROM LEFT TO RIGHT IS
DEREK RAMSEY – CFO
BOB FAITH – CHAIRMAN & CEO
BILL MADDUX – COO
TRAMMELL CROW BACKGROUNDS
Executive Leadership
Bob Faith
Chairman & Chief Executive Officer
Bill Maddux
Chief Operating Officer
Derek Ramsey
Chief Financial Officer
Stacy Hunt
Executive Director – Client Services
Andrew Livingstone
Executive Director – Real Estate Services
Wes Fuller
Executive Director – Investment Services
Scott Wise
Executive Director – Development & Construction 2

3. Transaction Management
Structure
“We know the real estate business is cyclical, but our balanced focus on both the service side of the business and the principal side gives us opportunities to grow wherever we are in the cycle.”
GREYSTAR REAL ESTATE PARTNERS
Client Services
Principal Activities
4 Regional offices
16 City offices
70+ Markets
140,000+ Units Managed
4,000 Employees
Property Management
National Coverage
15,500 Units
$1.5B Managed
25 Employees
Expertise across multiple product classes and investment strategies
Asset Management
National Coverage
11,500 Units
20 Employees
$2.75B Invested since inception
Investment
Development
4,000 Units
$350M Development pipeline
15 Employees
In-house construction
National Coverage
20 Employees
81 Acquisitions
52 Dispositions
Numerous debt and equity relationships
Transaction Management
7 Regional offices
$250M – renovation volume in last 3 yrs
Asset preservation best practices
20 Employees
Capital Projects
Multifamily Property Management and Ownership experience since 1976
Current portfolio of over 170,000 apartment homes in 88 markets across the country
Broad client and partner base of world-class institutional and private investors
Over 4,400 associates nationwide
Core competencies include Property Management, Asset Management, Investment, Construction Management, Transaction Management, and Development
Multifamily product types include Conventional, High-Rise, HOA/Fractured Condo, Lender-Owned, Senior Housing, Student Living, and Affordable Tax-Credit
Property Management REO expertise and repositioning of assets
Residential Types
Market Rate Housing
Student Housing
Senior Housing
Affordable Housing 3

4. largest institutional owners in the country.
Clients
Greystar has proven its ability to protect and enhance value for many of the
largest institutional owners in the country.
Greystar has grown largely through repeat business and client referrals from some of the most respected financial institutions and real estate companies in the country. Greystar has managed for RREEF, Goldman Sachs, AIG, GE Capital, Mass Mutual, MetLife, CBRE Realty Finance, and numerous private owners.
Organic growth through repeat business, customer referrals, and a reputation as a blue chip organization. 6

5. Bay Area Management Presence
Strong Local Presence
Tampa Management
24 Properties, 7708 units
Lease-ups
Renovations
Stabilized Properties
Seneca
Leadership Team
National Division Office
Andrew Livingstone
SE Regional Office
Gary Crane
Jim Fawcett-Florida
City Office
Lori Krull
4 Regional Managers
Locally 24 assets , statewide over 23,000 units from Pensacola down through Miami beach area.

6. Bay Area Development Presence
Seneca at Cypress Creek – Opened in June 2009
Seneca at Cypress Creek
Cypress Creek, Pasco Co., FL
451 units, 2009, Class A

7. Seneca at Cypress Creek
Site Aerial
Hwy 54

8. Seneca at Cypress Creek
Sustainable Land Plan
28 Acre wooded site – 46% tree save including specimen trees and unique clusters
Surface water – Conservation easements for Cypress Creek and critical linkage
Protected species – 14 gopher tortoise contained and relocated offsite
Property Description
28 Apartment Buildings
3-story garden and townhouse
Stucco / Hardi exteriors
Direct access garages
Screened Lanais
Controlled Access

9. Seneca at Cypress Creek
Amenity Package
Controlled Access Gates
Business Center & Cyber Cafe
Game Room with Billiards
Resort style pools
Outdoor Fire Pit
Cabana and grill poolside
24/7 Cardio/Fitness Center w/ Spinning Room
Bark Park
Plenty of open air space/courtyards
Services Included
Spot on Maintenance Team
Door to Door Valet Trash & Recycling
Package Receiving
Planned Social Events
Pest Control

10. Seneca at Cypress Creek
Clubhouse features
Leasing Center
Business Center
Cyber Cafe
WiFi club room
Home theater
Game Room w/ Billiards

11. Resident Business Center

12. Game and Media Room

13. Clubhouse and pool area

14. Seneca at Cypress Creek
Fitness Center
2,000 SF gym
Free Weights, Cardio, Universal
Kid’s playroom
Wii Fit gaming gear
Spinning/group room

15. Natural Area with picnic/grill areas

16. Seneca at Cypress Creek
Resort-style pool
Three deck/water elevations
California kitchen, fire pit
WiFi and surround sound
Screened porch seating area

17. Seneca at Cypress Creek
Diverse Unit Mix
One (645 – 981 SF) - 40%
Two (947 – 1340 SF) - 46%
Three (1321 – 1379 SF) - 4%
2 BR TH (1507 SF) - 6%
3 BR TH (1611 SF) - 5%
Modern Features
9’ ceilings
Open floor plans
Screened in Lanias/Bonus rooms*
42” maple cabinets
Kitchen Island/Bar*
Wood Plank Floors
Black on Black/Silver Metallic* GE Appliances w/Microwave
Washer / Dryer provided

18. Home of the WOW Kitchen!

19. Marketing Plan Property Website Marketing collateral
Brochures
Business Cards
Direct Mailers
Business Marketing Pieces
Print Advertisements
Guide Books
News Releases
Internet sites
Apartments.com
internet sites affiliated with print advertisers
Craigslist.com
Social Media campaign –Facebook/Twitter
Drive-by appeal
Signage (front entrance)
Banners on County Line Road
Billboard on 54
Landscaping
Human Directionals
Social Events
Resident Activities
Grand Opening in May 2010
Annual Haunted House
Pool Parties
OBVIOUSLY THE KEY TO A SUCCESSFUL LEASE-UP IS BUILD A GREAT PRODUCT WHICH GREYSTAR HAS DONE. IT WAS EASY TO SELL THE PROPERTY AND THE APARTMENT HOMES AS THE COMMUNITY WAS COMING TO LIFE. BUT A GOOD MARKETING BUDGET WAS ALSO NEEDED. THE PLAN FOCUSED ON THE ESSENTIAL COMPONENTS:

20. Traffic, Leases and Closing Ratio by Source
AGGRESSIVE MARKETING PROGRAM FROM THE GET-GO:
PRINT –(PRODUCED 56 LEASES) APARTMENT GUIDE AND FOR RENT
INTERNET – (166 LEASES) COMMUNITY WEBSITE, APARTMENTGUIDE.COM, FORRENT.COM, APARTMENTS.COM, CRAIGS-LIST, RENTALS.COM
RENT.COM – (65 LEASES)
LOCATOR – (15 LEASES)
RESIDENT REFERRALS (43 LEASES)
WORD OF MOUTH (66 LEASES)
CURBSIDE MARKETING (148 LEASES) INCLUDES: BILLBOARD, SIGNAGE, DRIVE-BY AND HUMAN DIRECTIONAL

21. Average Traffic per month: 105 112 50 46 31
Average Traffic per month:
Average # of NET leases per month:
Net Closing Ratios % %
# OF CANCELLATIONS 14.4% HIGHER IN THE BEGINNING DUE TO SOME CONSTRUCTION ISSUES
REJECTIONS 10% ON AVERAGE

22. Demographics 54% MALE 46% FEMALE 41% SINGLE 37% MARRIED
AGE – 62% RANGE FROM YEARS OLD
INCOME:
35% RANGE IN $31-$50K
18% RANGE OVER $61K

23. Seneca at Cypress Creek
YE 2009
90% Occupancy
Change with updated leasing information – more monthly info

24. TOP TEN :
MEDICAL 14%
PROFFESSIONAL AND MANAGEMENT 12%
SERVICE INDUSTRY 9%
EDUCATION 7%
STUDENTS (NON-MINOR) 5%
SALES 5%
HOMEMAKER 4%
RETIRED 3%
ADMINISTRATIVE 3%
MILITARY 2%
VARIOUS OTHER:
INCLUDE AIRLINE, CONSTRUCTION, BACK OFFICE, FINANCE, INSURANCE BROKERS, POLICE OFFICERS, FIRE FIGHTERS, SELF EMPLOYED, ETC.
WE’VE ALREADY EXPERIENCED TURNOVER – YTD 10%
TOP 5 REASONS FOR MOVE-OUTS : JOB/MILITARY TRANSFER 42%; HOME PURCHASE 18%; CHANGE IN FAMILIAL (ROOMMATE CHANGES, WENT BACK WITH SPOUSE) STATUS 10% AND FINANCIAL ISSUES (JOB LOSS,ETC) 11.6%
LAST SLIDE BEFORE QUOTES.

25. Price is what you pay, Value is what you GET! Warren Buffett
quotes to live by:
Prospect
MMFI - make me feel important!!
Customers are the center of the universe. Help them and in turn you’ll be awash with opportunity Sean Storms, TBJ
Price is what you pay, Value is what you GET! Warren Buffett
What TEAM SENECA lives by:
Build it they will come, manage it and they will stay!
Developer!

26. A Fully Integrated Multifamily Service Provider
Greystar Real Estate Partners
4030 Boy Scout Blvd
Tampa, FL
Phone: 813/
Website:
Greystar Real Estate Partners
18 Broad Street, Third Floor
Charleston, SC 29401
Phone:
Website: