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Rendering not representa.ve of actual property The Reserve At Amelia 300 Unit Class A Mul.-‐family Apartment Community Chris.an Way Yulee, Florida 32097 AC Q U I S I T I O N S, L L C
1 Forterra Acquisi.ons, LLC – Conﬁden.al and Proprietary Informa.on AC Q U I S I T I O N S, L L C
TABLE OF CONTENTS SECTION I
Executive Summary
3
SECTION II
Project Status / Timeline
7
SECTION III
Market Overview & Location
8
SECTION IV
Project Description
13
SECTION V
Financial Summary
25
SECTION VI
Sponsorship
29
SECTION VII
Appendix - Market Study
43
Forterra Acquisi.ons, LLC – Conﬁden.al and Proprietary Informa.on 2 AC Q U I S I T I O N S, L L C
EXECUTIVE SUMMARY Introduc.on: Forterra Acquisi.ons, LLC, together with long-‐standing partner ADEVCO, Inc., have been invited to solicit investors for a new special purpose en.ty, Forterra Amelia, LLC, to co-‐invest with LFW Investments, LLC as equity investors in a 300 unit luxury apartment community in the Amelia Island, FL area. LFW is the personal investment vehicle of Leo F. Wells, one of the most enduring and successful real estate investors in the U.S. Having owned and operated a series of funds and REITS, including the Wells REIT, the team at LFW brings decades of experience gained from billions of dollars of real estate transac.ons. LFW has tapped ADEVCO to develop this and other projects in concert with their internal staﬀ. Forterra and ADEVCO have co-‐invested and managed projects together since 1999 consis.ng of both opportunis.c acquisi.ons and new developments throughout the U.S. It is this unique rela.onship that gives investors in Forterra Amelia an opportunity to invest along side this real estate icon. Forterra Acquisi.ons, LLC – Conﬁden.al and Proprietary Informa.on 3 AC Q U I S I T I O N S, L L C
EXECUTIVE SUMMARY Investment Summary: Forterra Acquisi.ons is solici.ng a maximum of $5,300,000 of which it intends to invest $5,000,000 into Reserve Amelia, LLC, the ownership en.ty of the project .tled The Reserve at Amelia. The total equity required to be invested from the $37 million construc.on budget ranges from $7.5 to $9.4 million depending on ﬁnal loan proceeds. The balance of the equity will be invested by LFW and ADEVCO, but in no event less than $3 million. LFW and Leo F. Wells will be guarantors of the property ﬁnancing. Cash ﬂows from opera.ons will be paid 100% to investors pro rata un.l they have been paid a cumula.ve 8% on their investment, then 90% to investors and 10% to ADEVCO. Upon sale or reﬁnance, Forterra Amelia shall have all of its capital returned ﬁrst, followed by LFW and ADEVCO. Then, all investors receive a 12% preferred look-‐ back IRR aaer which 90% goes to investors and 10% to ADEVCO up to a 20% IRR, aaer which 80% goes to investors, 10% to ADEVCO and 10% to LFW. Forterra Amelia (and any other non-‐managing member) will receive a priority distribu@on of all of its invested capital prior to the Managing Member providing a superior level of investment security. LFW is currently nego.a.ng with lenders for a construc.on/mini-‐perm loan. The loan proceeds and other terms of the loan in the following projec.ons are based on ﬁrm term sheet proposals from lenders but the actual loan may be more favorable to the Investors. The investment by Forterra Amelia LLC into Reserve Amelia LLC is scheduled to close on or before December 15, 2014 concurrently with the closing of the construc.on loan. Unlike most investments in development opportuni.es, investors in Forterra Amelia do not share in the risk associated with all pre-‐development costs of land due diligence & carry costs, en.tlement, architectural design, engineering, etc. Forterra Acquisi.ons, LLC – Conﬁden.al and Proprietary Informa.on 4 AC Q U I S I T I O N S, L L C
EXECUTIVE SUMMARY Forterra Amelia Equity Investment Summary
Construction Budget
Construction Loan
Equity Required
$37,533,852
$28,150,390
$9,383,462
ADEVCO Equity
Financial Sponsor Equity
$500,000
$3,883,462
Forterra Contribution to Project
Syndication Fees
Legal & Administrative Costs
Total Forterra Investment
$5,000,000
$250,000
$50,000
$5,300,000
(Maximum)
41.39%
53.29%
Investment Structure – Forterra Amelia, LLC:
• 
Forterra priority return of capital scheduled to return roughly half of capital upon property stabilization
and refinance in the 24th month.
• 
Forterra maintains approval rights to all major decisions including sale or refinance of the Project.
• 
Cash Flow to be distributed 90% to Investors and 10% to Managing Member (with a minimum of $1,000
per month) in lieu of an asset management fee.
• 
Managing Member success fee upon sale equal to 27% of proceeds after a 12% look-back IRR to
invested capital.
Forterra Acquisi.ons, LLC – Conﬁden.al and Proprietary Informa.on 5 AC Q U I S I T I O N S, L L C
EXECUTIVE SUMMARY Investment Highlights: • 
300 unit rental community consis.ng of one, two and three bedroom apartment homes located on a fully en.tled 24.3 acre site in Nassau County near Amelia Island, Florida. • 
Mediterranean style buildings are three story wood frame construc.on with 59 carriage garages and 450 surface parking spaces, represen.ng 1.5 parking spaces per unit. • 
Architecturally appealing, eﬃciently designed Energy Star homes afrac.ng empty nesters drawn by the warm Florida climate, King’s Bay military personnel and residents serving Amelia Island and surrounding areas of Jacksonville and Savannah. Dis.nct Market Advantage: • 
Supply of apartment units in Nassau County is limited with only two compe.ng proper.es (Courtney Isles and Nassau Club Apartments) in the Subject’s Primary Market Area (PMA). • 
Poten.al demand from Subject property’s PMA, including Secondary and Ter.ary Market Area is es.mated at 8,000 households, represen.ng a capture rate of only 3.75%. • 
CoStar Group, Inc. reports a total of 1,892 apartment units in Nassau County with a vacancy rate of 3.7%. • 
According to Nassau County, there are currently no planned developments of mul.-‐family units in the County. Forterra Acquisi.ons, LLC – Conﬁden.al and Proprietary Informa.on 6 AC Q U I S I T I O N S, L L C
PROJECT STATUS / TIME-‐LINE •  Land acquisi.on completed on June 20, 2014 at a purchase price of $2.1MM, represen.ng an afrac.ve $7,000 per unit, or $86,420 per acre. •  Architectural ﬁrm of Rule Joy Trammell + Rubio (RJT+R) completed schema.c design package as of June 9, 2014 and has submifed as-‐built design drawing and speciﬁca.on to construc.on contractor to ﬁnalize pricing. •  Property is zoned high density residen.al, including 39 aﬀordable housing units to achieve 50% bonus density – selected Gillefe & Associates, Civil Engineer -‐ construc.on permits from Nassau County and local municipali.es complete. •  Integra selected as construc.on contractor -‐ guaranteed maximum price contract submifed and accepted with an.cipated construc.on to be completed by August 2015. •  Selected First Communi.es to provide lease-‐up and on-‐site property management services in May 2014. Land acquisi.on / A&E design Final permits / commence construc.on Cer.ﬁcate of Occupancy Jun ‘14 Aug ‘14 Sep ‘15 Forterra Acquisi.ons, LLC – Conﬁden.al and Proprietary Informa.on Stabiliza.on Sep ‘16 7 AC Q U I S I T I O N S, L L C
MARKET OVERVIEW & LOCATION Market Loca.on: • 
The subject site is located in Nassau County between the ci.es of Amelia Island and Yulee, Florida at the intersec.on of A1A and Chris.an Way Site • 
Driving Distance in miles to major afrac.ons: 1. 
Kings Bay Naval base – 18 2. 
Amelia Island Planta.on – 12 3. 
Ritz Carlton Amelia Island – 9 4. 
Fernandina Beach – 9 5. 
Highway I-‐95 – 6 6. 
Jacksonville Interna.onal Airport – 17 Forterra Acquisi.ons, LLC – Conﬁden.al and Proprietary Informa.on 8 AC Q U I S I T I O N S, L L C
MARKET OVERVIEW & LOCATION Primary Market Area Demographics: • 
The economies of Amelia Island and Fernandina Beach are primarily driven by tourism and have experienced an upward trend in recent years. • 
The subject’s PMA has an overall strong income base: • 
• 
Median household income is $55,853, an increase of 8.8% above US median household income. • 
Average household income is $73,524, an increase of 2.3% above US average household income. The demographics within the PMA also indicate a fairly stable picture: • 
Popula.on growth and household growth experience fairly constant increases of approx. 2.60% annually. Comparable MulU-‐family CharacterisUcs: • 
12-‐month lease term are typical • 
Minimal rental concessions • 
Occupancy rates in the mid to high 90 percent range • 
Ameni.es include: garages, clubhouse, swimming pool and ﬁtness center Forterra Acquisi.ons, LLC – Conﬁden.al and Proprietary Informa.on 9 AC Q U I S I T I O N S, L L C
MARKET OVERVIEW & LOCATION Comparable ProperUes: 1. 
Courtney Isles (B+) • 
240 unit complex constructed in 2008 • 
Occupancy level – 94.8% • 
Avg. rent p.s.f. -‐ $0.986 • 
Currently highest quality complex in PMA 2. Nassau Club Apartments (B) • 
240 unit complex constructed in 2005 • 
Occupancy level – 95+% • 
Avg. rent p.s.f. -‐ $0.774 • 
Sec.on 41 Tax Credit property consis.ng of approx. 25% market rate units Forterra Acquisi.ons, LLC – Conﬁden.al and Proprietary Informa.on 10 AC Q U I S I T I O N S, L L C
MARKET OVERVIEW & LOCATION 1. Site 2. Legend:
1. Courtney Isles 2. Nassau Club Apartments Monthly Rent:
Property
Reserve
Courtney Isles
Nassau Club *
1BR/1BA
2BR/2BA
3BR/2BA
$953
$910
$750
$1,143
$1,062
$1,040
$1,350
$1,260
$1,069
* Data for Nassau Club excludes non-market rate and 4BR units
Forterra Acquisi.ons, LLC – Conﬁden.al and Proprietary Informa.on 11 AC Q U I S I T I O N S, L L C
MARKET OVERVIEW & LOCATION Forterra Acquisi.ons, LLC – Conﬁden.al and Proprietary Informa.on 12 AC Q U I S I T I O N S, L L C
PROJECT DESCRIPTION Forterra Acquisi.ons, LLC – Conﬁden.al and Proprietary Informa.on 13 AC Q U I S I T I O N S, L L C
PROJECT DESCRIPTION UNIT MIX
Unit Type
A
B
C
D
E
F
G
BR/BA
1/1
1/1
1/1
2/2
2/2
2/2
3/3
Sub-Total
GAR
Total
n/a
SF
800
900
850
1,050
1,250
1,150
1,350
# Units
58
57
20
58
57
20
30
Total SF
46,400
51,300
17,000
60,900
71,250
23,000
40,500
Rent/SF
$1.20
$1.15
$0.82
$1.08
$1.01
$0.73
$1.00
Monthly Rent
$960
$1,035
$698
$1,134
$1,260
$838
$1,350
Annual Rent
$668,160
$707,940
$167,580
$789,264
$861,840
$201,096
$486,000
1,035
300
310,350
$1.04
$1,078
$3,881,880
264
908
59
359
15,576
325,926
$1.00
$1.01
$110
$919
$77,880
$3,959,760
Forterra Acquisi.ons, LLC – Conﬁden.al and Proprietary Informa.on 14 AC Q U I S I T I O N S, L L C
PROJECT DESCRIPTION General • 
300 unit gated rental community consis.ng of one, two and three bedroom apartment homes situated in a natural seqng with rolling topography. • 
Apartments will be three stories, walk-‐up, garden style units and include 59 carriage style garages: -‐ 
Type 1: 3 story, 24 units
-‐ Type 4: 2 story, 4 units over 12 garages -‐ 
Type 2: 3 story, 24 units
-‐ Type 5: 1 story, 10 garages -‐ 
Type 3: 3 story, 24 units
-‐ Type 5A: 1 story, 9 garages • 
450 parking spaces, or 1.5 spaces per unit • 
Mul.ple brick paver roundabouts to create warm community feel and ease ﬂow of traﬃc Exterior Finish: • 
Mediterranean themed with hard coat stucco exterior • 
Construc.on Type VA – structural wood framing • 
Architectural columns, cornices, arches and window shufers • 
Concrete .le roof • 
Spray foam insula.on and sound mats to reduce noise between units Forterra Acquisi.ons, LLC – Conﬁden.al and Proprietary Informa.on 15 AC Q U I S I T I O N S, L L C
PROJECT DESCRIPTION Interior Finish: • 
Living room / Kitchen o  Light and dark color scheme op.ons o  Low maintenance luxury vinyl .le o  Granite countertops o  Stainless steel electric appliance package o  Standard full size Amana washer and dryer o  Wood panel kitchen cabinets • 
Bedroom / Bath o  Semi-‐shag carpet in all bedrooms o  Porcelain ceramic .le in bathroom o  Cultured double marble vani.es o  “Thermafoil” cabinetry Forterra Acquisi.ons, LLC – Conﬁden.al and Proprietary Informa.on 16 AC Q U I S I T I O N S, L L C
PROJECT DESCRIPTION Forterra Acquisi.ons, LLC – Conﬁden.al and Proprietary Informa.on 17 AC Q U I S I T I O N S, L L C
PROJECT DESCRIPTION Forterra Acquisi.ons, LLC – Conﬁden.al and Proprietary Informa.on 18 AC Q U I S I T I O N S, L L C
PROJECT DESCRIPTION Forterra Acquisi.ons, LLC – Conﬁden.al and Proprietary Informa.on 19 AC Q U I S I T I O N S, L L C
PROJECT DESCRIPTION Forterra Acquisi.ons, LLC – Conﬁden.al and Proprietary Informa.on 20 AC Q U I S I T I O N S, L L C
PROJECT DESCRIPTION Clubhouse: • 
6,000 sq. a. • 
Leasing oﬃce • 
Spacious living / great room to include social coﬀee bar • 
Club room with coﬀered ceiling and see through ﬁreplace to covered terrace • 
Gourmet kitchen with separate dining room to accommodate up to 60 residents/guests • 
Lounge with large ﬂat screen TV • 
Fitness center to include: o  Ellip.cal and treadmill machines o  Nau.lus and free weights o  Private room for Yoga, Spin and Fitness on Demand o  Flat screen TV’s throughout • 
Outdoor covered and open terrace Forterra Acquisi.ons, LLC – Conﬁden.al and Proprietary Informa.on 21 AC Q U I S I T I O N S, L L C
PROJECT DESCRIPTION AmeniUes: • 
1,500 sq. a. Olympic size salt water pool with Sundeck and pool slide • 
Outdoor kitchen to include grill and ice machine • 
Kid friendly playground area • 
Large and small dog park complete with dog washing sta.on • 
Car wash • 
Natural hiking and ﬁtness trail • 
59 garages with separate storage lockers • 
Mail center • 
Community garden • 
Large fountain feature in main reten.on pond Forterra Acquisi.ons, LLC – Conﬁden.al and Proprietary Informa.on 22 AC Q U I S I T I O N S, L L C
PROJECT DESCRIPTION Forterra Acquisi.ons, LLC – Conﬁden.al and Proprietary Informa.on 23 AC Q U I S I T I O N S, L L C
PROJECT DESCRIPTION Forterra Acquisi.ons, LLC – Conﬁden.al and Proprietary Informa.on 24 AC Q U I S I T I O N S, L L C
FINANCIAL SUMMARY SOURCES
Construction Loan/Mini-Perm
Equity
75.0%
$28,150,390
25.0%
$9,383,462
Total Sources
$37,533,852
USES
Land Cost
5.6%
$2,100,000
A&E
3.4%
$1,287,192
Direct Construction Cost
76.6%
$28,756,004
Indirect Construction Cost
10.3%
$3,878,381
4.0%
$1,500,000
Developer Fees
Total Uses
Forterra Acquisi.ons, LLC – Conﬁden.al and Proprietary Informa.on $37,533,852
25 AC Q U I S I T I O N S, L L C
FINANCIAL SUMMARY Land General Condi.ons/Fee/Bond Hard Cost Total Hard Cost Architecture / Engineering FF&E Impact Fees Construc.on Management Fee Financing & Legal Fees Insurance Taxes Misc. Total Soa Costs Developer Fee -‐ Current Hard Con.ngencies Soa Con.ngencies Total Con.ngencies Construc.on Period Interest Construc.on Period Op Deﬁcit Construc.on Period Income Total Project Costs DEVELOPMENT BUDGET Total $ $2,100,000 $2,486,743 $25,213,261 $27,700,004 $8,289 $84,044 $92,333 $650,752 $1,050,000 $1,260,984 $300,000 $2,169 $3,500 $4,203 $1,000 $361,128 $50,000 $25,000 $3,697,864 $1,204 $167 $83 $0 $12,326 $1,500,000 $5,000 $756,000 $154,967 $910,967 $2,520 $517 $3,037 $521,726 $662,216 0 $1,739 $2,207 0 $37,092,777 $123,643 Forterra Acquisi.ons, LLC – Conﬁden.al and Proprietary Informa.on $ / unit $7,000 $ / PSF $6.54 $7.74 $78.49 $86.23 $2.03 $3.27 $3.93 $0.93 $1.12 $0.16 $0.08 $0.00 $11.51 $4.67 $2.35 $0.48 $2.84 $1.62 $2.06 0 $115.47 26 AC Q U I S I T I O N S, L L C
% Total 5.7% 6.7% 68.0% 74.7% 1.8% 2.8% 3.4% 0.8% 1.0% 0.1% 0.1% 0.0% 10.0% 4.0% 2.0% 0.4% 2.5% 1.4% 1.8% 0 100.0% FINANCIAL SUMMARY – Five Year Hold – Page 1 Assumptions
Total Cost
Equity
Mini Perm Loan
Construction Cap Rate (normalized)
Loan Rate
Loan Term (mos)
25%
75%
Loan Amortization (mos)
300
Constant
5.00%
Preferred Return (8% current + 4% catch-up)
12.00%
Year 0
Occupancy Level
Revenues
Potential Gross Income
- Vacancy
- Rent Concessions Yr 1
- Collection Loss/Bad Debt
+ Utility Reimbursements
+ Other Income
Effective Gross Income
Operating Expenses
- Operating Expenses
- Management Fee
- Debt Extension fees
- Replacement Reserves
Net Operating Income
+ Op Deficit Reserve
- Debt Service
Cash Flow
Project Value
- Cost of Sale
Net Sale Proceeds
- Mortgage Balance
Equity Reversion
Partial Return of Capital
Total Equity Returned
Returns
Return on Cost (Yr. 5)
Return on Equity (Yr. 5)
Equity Multiple at Exit
Exit Cap Rate
Cost of Sale
Project Level - Unleveraged IRR
$37,533,852
$9,383,462
$28,150,390
7.15%
5.00%
60
8.26%
7.56%
2.33 x
7.00%
1.00%
3.54%
Project Level Leverage IRR
19.21%
Investor - Leverage
IRR
18.39%
Investor - Equity Multiple
2.24 x
Year 1
Year 2
Year 3
Year 4
Year 5
Year 6
59.9%
95.0%
95.0%
95.0%
95.0%
95.0%
4,255,800
1,708,231
347,000
42,558
2,158,011
4,362,195
218,110
4,471,250
223,562
4,583,031
229,152
4,697,607
234,880
4,815,047
240,752
43,622
4,100,463
44,712
4,202,975
45,830
4,308,049
46,976
4,415,750
48,150
4,526,144
965,193
75,530
994,149
143,516
1,054,692
150,782
1,086,333
154,551
1,118,923
158,415
30,104
1,087,184
304,697
1,391,880
-
75,000
2,887,798
1,407,520
1,480,279
1,023,973
147,104
273,287
75,000
2,683,610
2,390,395
293,215
75,000
3,027,575
2,390,395
637,180
75,000
3,099,866
2,390,395
709,471
75,000
3,173,806
2,390,395
783,411
15,531,000
155,310
15,375,690
28,150,390
(12,774,700)
41,254,000
412,540
40,841,460
28,150,390
12,691,070
38,337,000
383,370
37,953,630
28,150,390
9,803,240
44,284,000
442,840
43,841,160
31,159,615
12,681,545
45,340,000
453,400
44,886,600
30,465,679
14,420,921
-
-
1,480,279
43,251,000
432,510
42,818,490
31,816,497
11,001,993
4,287,914
6,061,409
6,698,589
21,828,981
Forterra Acquisi.ons, LLC – Conﬁden.al and Proprietary Informa.on 27 AC Q U I S I T I O N S, L L C
FINANCIAL SUMMARY – Five Year Hold – Page 2 Year 0
Project - Unleveraged IRR
Total Cost (1)
Annual Cash Flow
Net Cash From Sale
Project Cash Flow
IRR
Project - Leveraged IRR
Initial Equity
Annual Cash Flow
Net Cash From Refi and Sale
Project Cash Flow
IRR
Equity Multiple
Investor - Leveraged IRR
Initial Equity
Year 1
Year 3
Year 4
Year 5
$36,349,910
$$(36,349,910)
3.61%
$1,097,184
$2,898,098
$2,693,341
$3,038,502
$3,111,121
$45,050,940
$48,162,061
$1,097,184
$2,898,098
$2,693,341
$3,038,502
$-
$1,490,579
$639,480
$-
$1,490,579
$294,319
4,404,992
$4,699,311
$639,480
$712,099
$14,475,303
$15,187,402
750,677
$$750,677
750,677
$1,490,579
$10,775
750,677
$294,319
$467,133
750,677
$639,480
$578,330
750,677
$712,099
$616,909
$-
$-
$-
$-
$-
-
-
4,404,992
-
$-
$1,490,579
$4,699,311
$639,480
1,523,693
4,978,470
$7,175,826
$14,390,088
$$$-
$794,258
$79,426
$714,833
$4,121,322
$177,412
$3,943,909
$340,748
$34,075
$306,674
$7,667,792
$1,599,957
$6,067,836
$9,383,462
$0
$(9,383,462)
19.48%
2.35 x
$9,383,462
Preferred "Earned"
Preferred "Paid"
Preferred "Accrual"
Investor Annual Cash Flows
Preferred "Catch-up"
Return of Equity
Net Cash From Refi and Sale
Investor Total Cash Flow
IRR
Equity Multiple
Year 2
$$(9,383,462)
18.69%
2.26 x
Forterra Investors - Leveraged IRR
Forterra Equity Contribution To
Project
$5,000,000 53.29%
Syndication Fee
$250,000
Legal and Closing Expense
$50,000
Total Investment
$5,300,000
Forterra Project IRR
22.31%
Forterra Annual Cash Distributions from Project
Mgmt/Success Fee - Forterra Acquisitions
Investor Total Cash Flow
IRR
19.0%
Equity Multiple
2.08 x
Forterra Acquisi.ons, LLC – Conﬁden.al and Proprietary Informa.on 28 AC Q U I S I T I O N S, L L C
SPONSORSHIP AC Q U I S I T I O N S, L L C
Forterra Acquisi.ons, LLC is aﬃliated with Forterra Capital Partners, LLC and is led by Dan Markee. Since 1995, these companies have provided debt and equity to ventures in partnership with developer/sponsors throughout the U.S. as well as direct investment in turnaround proper.es and real estate related opera.ng businesses both private and public. Forterra investments have encompassed nearly every asset type, geography and structure. For nearly two decades, Forterra has provided commercial real estate exper.se in projects for its investors and partners in the following areas: •  Debt and Equity Placement •  Joint Venture Structuring •  Ac.ve Asset Management •  Land Assemblage and En.tlement •  Distressed Real Estate and Debt Acquisi.on & Management •  Workouts of Distressed Real Estate, En..es & Opera.ng Companies Forterra has provided an average annual return on assets of over 13.5% for its clients over its opera.ng life with 97% of its investors returning for subsequent investments. Forterra Acquisi.ons, LLC – Conﬁden.al and Proprietary Informa.on 29 AC Q U I S I T I O N S, L L C
SPONSORSHIP LFW Investments is the family oﬃce investment vehicle for Leo F. Wells. Over the last 30 years, Mr. Wells’ various opera.ng companies have invested over $13 billion in commercial real estate transac.ons consis.ng of assets primarily purchased throughout the United States, including minor holdings interna.onally. Aside from Mr. Wells’ renowned ac.vi.es in the commercial oﬃce sector (which in 2002, included Wells being ranked the largest purchaser of Class-‐A oﬃce and industrial proper.es in the U.S. by Real Capital Analy.cs), Mr. Wells has been ac.vely involved in the following real estate ac.vi.es throughout his career •  Build-‐to-‐suit corporate complexes •  Development of mul.-‐family communi.es •  Residen.al subdivisions •  Land assemblage and en.tlement •  Timberland investment and management •  Anchored and unanchored retail strip centers Forterra Acquisi.ons, LLC – Conﬁden.al and Proprietary Informa.on 30 AC Q U I S I T I O N S, L L C
SPONSORSHIP With the crea.on of LFW Investments in 2013, Mr. Wells formed an investment vehicle for the purpose of con.nuing his tradi.onal real estate investment strategy u.lizing his personal net worth. Since its incep.on, LFW has invested in opera.ng partnerships with a proven track record of performance. These partnerships operate in a wide variety of asset classes, including mul.family, student housing, senior living, oﬃce, retail, mixed-‐use and residen.al proper.es. LFW’s investment objec.ve is to create a diversiﬁed portolio of assets, primarily focused on real estate investments that produce substan.ally above market risk-‐
adjusted returns. To date, the investment team at LFW has invested in real estate projects valued in excess of $500 million. The LFW team consists of three real estate professionals with combined experience of 70+ years in real estate development, acquisi.on, structuring and disposi.ons. Addi.onally, LFW leverages expert third party resources to assist in project evalua.on and due diligence, legal, tax and accoun.ng. Forterra Acquisi.ons, LLC – Conﬁden.al and Proprietary Informa.on 31 AC Q U I S I T I O N S, L L C
SPONSORSHIP Founded in 1990, ADEVCO delivers quality development to Fortune 500 companies throughout the United States. Since incep.on, ADEVCO has developed over 4 million square feet of corporate oﬃce and call center facili.es valued at approximately $450 million. ADEVCO’s specialty – achieving your real estate objec.ves by consistently delivering superior development solu.ons. ADEVCO deﬁnes quality development as eﬃcient, func.onal and cost eﬀec.ve facili.es that an.cipate needs and oﬀer solu.ons. The ADEVCO execu.ve team has more than a century of development know-‐how. With na.onal experience working with Fortune 500 companies, we apply lessons learned to deliver for our clients. We understand corporate real estate decisions and the value of on-‐.me and on-‐budget comple.ons. Our reﬁned skill set enables us to overcome challenges and make things happen. Forterra Acquisi.ons, LLC – Conﬁden.al and Proprietary Informa.on 32 AC Q U I S I T I O N S, L L C
SPONSORSHIP We believe that quality and value are not op.onal — they are a requirement. Our experienced management team works with the industry's best contractors and consultants, and together, we deliver a quality project on .me and on budget. We manage the details, but don't lose sight of the end goal. Our construc.on management capabili.es include: • 
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Review general contractor and subs contracts Manage bid process and provide bid analysis Maintain project budget and schedule integrity Manage architectural and engineer team Coordinate all construc.on services Conduct site visits Manage change orders Conduct regular project team mee.ngs Facilitate quality and standard assurance Execute punch list Procure closing documents Review and process invoices Develop monthly draw process Forterra Acquisi.ons, LLC – Conﬁden.al and Proprietary Informa.on 33 AC Q U I S I T I O N S, L L C
SPONSORSHIP Rule Joy Trammell (RJT+R) is an innova.ve architectural and interior design prac.ce recognized for excellence in urban planning, architectural and interior design and execu.on of a wide range of project types. RJT+R is headquartered in Atlanta, GA. Notable Atlanta projects include 1010 Midtown, 1075 Peachtree Street, Loews Hotel, the Marriof Hotel at the Georgia Interna.onal Conven.on Center, Krog Street Market and Apartments and 33 Peachtree Place. In addi.on, RJT+R has completed Vistas on the James, Richmond, VA; Historic Rehabilita.on of the John Marshall Hotel, Richmond, VA; Colonial Proper.es Trust Headquarters, Birmingham, AL; Somerby Senior Living Community in Charleston, SC; as well as numerous data and call centers for AT&T throughout the Midwest; AllState Call Center, Yuma, AZ and Merck TeleRx Call Center, Shelby, NC. Corporate interior design clients include: Troutman Sanders, LLP; Sciele Pharma, Inc.; Kemira Chemicals, Inc.; SecureWorks and Exide Technologies. Forterra Acquisi.ons, LLC – Conﬁden.al and Proprietary Informa.on 34 AC Q U I S I T I O N S, L L C
SPONSORSHIP Firm History: RJT+R was established on January 3, 2005. The ﬁve Principals: Rob Rule, Dan Joy, Joe Trammell, Ann Rubio and Greg Blaylock have worked together as a team for over 18 years, providing design services on projects which have been recognized for design excellence and proven to be proﬁtable long-‐term assets for their clients. It is this history that enables RJT+R to generate a large por.on of its business from repeat clients. Firm Vision: The ﬁrm’s vision is to be an organiza.on which has a strong connec.on with their clients and a nurturing environment for their design associates. They have succeeded in this vision by: •  Becoming the ﬁrst Architectural/Interior Design Firm to be voted as one of the Top 25 Best Places to Work by Atlanta Business Chronicle. •  Establishing New Client Rela.onships which have led to repeat commissions. •  Consistently being ranked among the Top 25 Architectural and Interior Design Firms in Atlanta. Forterra Acquisi.ons, LLC – Conﬁden.al and Proprietary Informa.on 35 AC Q U I S I T I O N S, L L C
SPONSORSHIP With oﬃces in Atlanta and Indianapolis, Integra Construc.on has a two-‐decade tradi.on of managing complex projects in the Southeast and Midwest, along with extensive experience throughout the rest of the country. We were formed in Atlanta in 1994 by David Blackmore and Jeﬀ Powers aaer working together at a na.onally recognized general contrac.ng ﬁrm. Our execu.ve management team has worked together for over thirty (30) years. This con.nuity of experience allows us to communicate well internally, and ul.mately provide befer communica.on with owners, architects, and subcontractors. Integra has completed millions of square feet of mission cri.cal, oﬃce, light industrial, interior, retail, condominium, airport, and ins.tu.onal space for many Fortune 500 companies. Our eﬃcient size provides us with the abili.es of the largest companies while maintaining low general condi.ons costs and the personalized service. We are well capitalized and carry no short or long term debt. Integra Construc.on is licensed in twenty-‐four (24) states and has a bonding capacity in excess of $90 million with The Hartord Fire Insurance Company. We are consistently ranked among the Top 25 General Contrac.ng Firms in Georgia by the Atlanta Business Chronicle. Forterra Acquisi.ons, LLC – Conﬁden.al and Proprietary Informa.on 36 AC Q U I S I T I O N S, L L C
SPONSORSHIP The philosophy of Integra Construc.on is to perform work for a select group of clients and targeted projects, and to ensure that the highest level of afen.on is provided on each project we undertake. Our goal on all projects is to obtain complete client sa.sfac.on by performing our work for the most compe..ve price, the highest quality construc.on and within the schedule requirements. We take all steps necessary to ensure that these three goals are met and that at the end of each project the client is more impressed with Integra Construc.on than they were at the ﬁrst mee.ng. Our proven commitment to establishing long term rela.onships with our clients by providing ﬁrst class service is the basis of the philosophy at Integra Construc.on. This philosophy has been in place for twenty years and has resulted in our con.nuous growth and success. We con.nue to provide construc.on services for the same clients that we worked with during our ﬁrst year, which we feel speaks for itself in the quality of work and service we provide. Forterra Acquisi.ons, LLC – Conﬁden.al and Proprietary Informa.on 37 AC Q U I S I T I O N S, L L C
SPONSORSHIP MulU-‐Family, Assisted Living, and Hotel Experience Spyglass Condominiums, Amelia Island, Florida – This 7 story luxury condominium project is located on the pres.gious Amelia Island Planta.on. The structure is a ﬂat slab, reinforced concrete frame with concrete shear walls. The interior wall construc.on is comprised of CMU and metal stud with sheetrock construc.on. All perimeter walls are comprised of “paperless” drywall for mold preven.on. Site work includes reloca.on of roadways for access to adjacent exis.ng condominiums, u.lity reloca.ons, a new pool and pool house. The Mix, Atlanta, Georgia – Integra Construc.on is currently ﬁnalizing pricing on this project. It consists of two building and one parking deck. Building A has 10,000 SF of retail on the ﬁrst ﬂoor and 35,000 SF of residen.al. Building B consists of three residen.al units and retail on the ﬁrst ﬂoor. There is also a 183 space pre-‐cast parking deck included. Construc.on to start August of 2014. Forterra Acquisi.ons, LLC – Conﬁden.al and Proprietary Informa.on 38 AC Q U I S I T I O N S, L L C
SPONSORSHIP Chatham Harbor Apartment RenovaUon, Altamonte Springs, Florida – Renova.on of 350 unit apartment complex in Altamonte Springs, FL consis.ng of a complete interior renova.on and exterior repairs and pain.ng. Work also included re-‐plumbing all units. The AtlanUc, Atlanta, Georgia – A new 419 unit 50 story condominium building. The Atlan.c is a modern-‐day testament to Art Deco glamour and sophis.ca.on. The spacious residences feature over 50 ﬂoor plan op.ons. The building includes a full-‐size pool with hot tub spa and a ﬁtness center with state of the art equipment. The units include hardwood ﬂoors, stainless steel appliances, granite countertops, and custom wood countertops. Salude Assisted Living, Suwannee, Georgia – Salude is a facility providing high-‐level clinical care in recovery and post-‐acute services. This facility houses 64 private rooms (approximately 330 sf) along with doctors on staﬀ and rehabilita.on rooms oﬀering drama.c ﬂoor-‐to-‐ceiling windows with beau.ful, scenic views and mechanized roller shades. Included in each private room you ﬁnd a custom built-‐in wardrobe and vanity, Floren.ne-‐style glazed porcelain bathrooms and stainless-‐steel ﬁxtures. Forterra Acquisi.ons, LLC – Conﬁden.al and Proprietary Informa.on 39 AC Q U I S I T I O N S, L L C
SPONSORSHIP It all started with a handshake and a single client in 1978. For over four decades, building rela.onships anchored by trust has earned First Communi.es Management (FCM) the reputa.on of superior apartment management services, afen.veness to client objec.ves and the industry’s strongest opera.ng systems and ﬁnancial repor.ng. Rob Johnston, President and Founder of FCM, began the company with one objec.ve: to be the premier property management company in the United States. Understanding that success is only achieved with a clear vision, Rob deﬁned FCM’s core principles of excellence from the company’s incep.on: •  Our Leadership Team must be passionate, proac.ve, and an industry leader. •  Each client will receive the highest level of property management services at all .mes. •  Create a company of dedicated, knowledgeable professionals with the personal core values of integrity, honesty, compassion, and honor. •  Success lives in the building of strong rela.onships. Forterra Acquisi.ons, LLC – Conﬁden.al and Proprietary Informa.on 40 AC Q U I S I T I O N S, L L C
SPONSORSHIP In 1978, FCM gained its ﬁrst client by taking over the management of two garden apartment communi.es in northeast Atlanta: Versailles and Chastain. FCM has since grown into one of the na.on’s most successful mul.family property management companies. We s.ll have that very ﬁrst client and those ﬁrst two proper.es are now part of a portolio that encompasses over 30,000 units. FCM will con.nue to evolve, improve, and prosper with the dedica.on and team work of our valued employees. Our culture is based on this simple creed – Experience and exper.se produces new opportuni.es but integrity, execu.on and rela.onships perpetuate these opportuni.es. We endeavor daily to nurture and mo.vate our employees, and also hire top-‐quality new employees. We are equally devoted to afending to all the needs and preferences of our clients. All of us take great pride in the longevity of our employees and the enduring rela.onships with our clients. FCM’s future will be built in the same manner as our beginning…one rela.onship and one handshake at a .me. Forterra Acquisi.ons, LLC – Conﬁden.al and Proprietary Informa.on 41 AC Q U I S I T I O N S, L L C
SPONSORSHIP Forterra Acquisi.ons, LLC – Conﬁden.al and Proprietary Informa.on 42 AC Q U I S I T I O N S, L L C
APPENDIX – MARKET STUDY Forterra Acquisi.ons, LLC – Conﬁden.al and Proprietary Informa.on 43 AC Q U I S I T I O N S, L L C

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