Colorado Springs New Construction & Proposed Multifamily Projects 4Q20

Source: Yardi Matrix1 mi

CheyenneCheyenneMountainMountain

The HornsThe Horns

940

25

38

32

33

39

3721

22

4

1

11

12

Lease-Up Under Construction Planned ProspectiveLEGEND

ID PROPERTY UNITS

1 Aero Place 162

4 Ascent 175

Total Lease Up 337

9 The Cottages at Torin Point 116

11 Thrive at the Incline Redevelopment 192

12 Parc at Prairie Grass 312

Total Under Construction 620

21 Thrive at Slopeside Redevelopment 84

22 Mosaica 223

Total Planned 307

25 Sundance at Rock Creek 240

32 Cottages at Gateway 92

33 Fountain Blvd 208

37 Westgate at Powers 440

38 Kaleidos 150

39 Silver Key Senior 71

40 Village at Solid Rock 77

Total Prospective 1,278

Colorado Springs New Construction & Proposed Multifamily Projects 4Q20

Source: Yardi Matrix1000 ft

3534

36

42

44

41

43

24

13

23

8

Lease-Up Under Construction Planned ProspectiveLEGEND

ID PROPERTY UNITS

8 Luxe Tower 73

Total Lease Up 73

13 Colorado and Chestnut 54

23 Moreno Avenue 408

Total Planned 462

24 Vue Des Monts 72

34 Elan at Pikes Peak 320

35 Pikes Peak Plaza 217

36 Vermijo and Wahsatch 154

41 Cimarron and Sahwatch 200

42 Cimarron and Weber 81

43 Ivywild on the Creek 164

44 Parkside 187

Total Prospective 1,395

Colorado Springs New Construction & Proposed Multifamily Projects 4Q20

Source: Yardi Matrix1 mi

10

26

27

28

29

31

30

20

18

15

14

19

16

17

7

5

2

3

6

Lease-Up Under Construction Planned ProspectiveLEGEND

ID PROPERTY UNITS

2 Lodge at Black Forest Phase II 286

3 Springs at Foothill Farms 264

5 Vue 21 Phase II 156

6 FalconView 288

7 Cortland Grand River Phase II 149

Total Lease Up 1,143

10 The Zeb 193

Total Under Construction 193

14 Cottages at Pikeview 168

15 Ascent by Watermark 360

16 Ridgeline 280

17 Volta at Voyager Phase II 120

18 Stonebridge Development 232

19 Cottages at North Carefree 68

20 Woodmen Ridge 252

Total Planned 1,480

26 Victory Ridge 285

27 Outlook Briargate 300

28 Urban Collection at Briargate Square 70

29 The Cottages at Woodmen Heights 280

30 Crowne at Rio Vista 285

31 Dublin Springs 149

Total Prospective 1,369

Colorado Springs New Construction & Proposed Multifamily Projects

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ID PROPERTY NAME ADDRESS CITY STATE ZIP STATUS UNITS SUBMARKET PERMITDATE

FORECASTED COMPLETION DATE

START OFRENT-UP

1 Aero Place 3815 Lakehurst Drive Colorado Springs CO 80916 Lease-Up 162 Pikes Peak Park South / Southborough

07/31/2020 12/31/2021 10/16/2020

2 Lodge at Black Forest Phase II 7761 Bear Run Point Colorado Springs CO 80924 Lease-Up 286 Northgate / Flying Horse 03/02/2020 08/31/2021 07/24/2020

3 Springs at Foothill Farms 1203 Affirmed View Colorado Springs CO 80921 Lease-Up 264 Northgate / Flying Horse 04/06/2020 06/30/2021 10/02/2020

4 Ascent 1030 South Chelton Road Colorado Springs CO 80910 Lease-Up 175 Valley Hill / Park Hill 09/30/2019 03/31/2021 09/22/2020

5 Vue 21 Phase II 4610 Nautilus Peak View Colorado Springs CO 80924 Lease-Up 156 Northgate / Flying Horse 08/11/2019 01/31/2021 07/01/2020

6 FalconView 10691 Cadence Point Colorado Springs CO 80921 Lease-Up 288 Northgate / Flying Horse 06/01/2018 01/31/2021 07/02/2019

7 Cortland Grand River Phase II 7755 Kaleb Grove Road Colorado Springs CO 80920 Lease-Up 149 Briargate / West Norwood 07/02/2018 01/31/2021 04/01/2019

8 Luxe Tower 107 West Cheyenne Road Colorado Springs CO 80906 Lease-Up 73 Ivywild / Stratton Meadows / Lower Skyway 07/09/2018 01/31/2021 09/01/2018

Total Lease-Up 1,553

9 The Cottages at Torin Point 1715 Torin Road Colorado Springs CO 80916 Under Construction 116 Pikes Peak Park South / Southborough 08/26/2020 08/31/2021

10 The Zeb 1721 Telstar Drive Colorado Springs CO 80920 Under Construction 193 Northgate / Flying Horse 05/01/2020 07/31/2021

11 Thrive at the Incline Redevelopment 260 North Murray Blvd Colorado Springs CO 80916 Under Construction 192 Eastborough 12/31/2018 01/31/2021

12 Parc at Prairie Grass 720 Chapman Drive Colorado Springs CO 80916 Under Construction 312 Gateway Park 10/31/2018 01/31/2021

Total Under Construction 813

13 Colorado and Chestnut 532 West Colorado Avenue Colorado Springs CO 80903 Planned 54 Old Colorado City / Manitou Springs

14 Cottages at Pikeview North Cascade Avenue & Winters Drive Colorado Springs CO 80907 Planned 168 Holland Park / Cragmoor

15 Ascent by Watermark Tutt Boulevard & East Woodmen Road Colorado Springs CO 80908 Planned 360 Northgate / Flying Horse

16 Ridgeline Old Ranch Road & North Powers Blvd Colorado Springs CO 80908 Planned 280 Northgate / Flying Horse

17 Volta at Voyager Phase II 11275 Nahcolite Point Colorado Springs CO 80921 Planned 120 Northgate / Flying Horse

18 Stonebridge Development 8205 North Union Blvd Colorado Springs CO 80920 Planned 232 Briargate / West Norwood

19 Cottages at North Carefree North Carefree Circle & Van Teylingen Drive Colorado Springs CO 80917 Planned 68 Parkmoor / Garden Ranch

20 Woodmen Ridge Targa Drive & East Woodmen Road Colorado Springs CO 80923 Planned 252 East Norwood

21 Thrive at Slopeside Redevelopment 2818 Airport Road Colorado Springs CO 80910 Planned 84 Valley Hill / Park Hill

22 Mosaica 2155 Hancock Expwy Colorado Springs CO 80910 Planned 223 Pikes Peak Park North / Eastlake

23 Moreno Avenue 127 West Moreno Avenue Colorado Springs CO 80903 Planned 408 Ivywild / Stratton Meadows / Lower Skyway

Total Planned 2,249

24 Vue Des Monts Lower Gold Camp Road & West Moreno Avenue Colorado Springs CO 80905 Prospective 72 Old Colorado City /

Manitou Springs

25 Sundance at Rock Creek Pine Oak Road & State Highway 115 Colorado Springs CO 80926 Prospective 240 Northgate / Flying Horse

26 Victory Ridge Interquest Pkwy & Voyager Pkwy Colorado Springs CO 80908 Prospective 285 Northgate / Flying Horse

27 Outlook Briargate 1650 Briargate Blvd Colorado Springs CO 80920 Prospective 300 Briargate / West Norwood

28 Urban Collection at Briargate Square Chancellor Drive & Scarborough Drive Colorado Springs CO 80920 Prospective 70 Briargate / West Norwood

29 The Cottages at Woodmen Heights Adventure Way & Idaho Lane Colorado Springs CO 80923 Prospective 280 East Norwood

Colorado Springs New Construction & Proposed Multifamily Projects

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ID PROPERTY NAME ADDRESS CITY STATE ZIP STATUS UNITS SUBMARKET PERMITDATE

FORECASTED COMPLETION DATE

START OFRENT-UP

30 Crowne at Rio Vista SWC Barnes Road & Rio Vista Drive Colorado Springs CO 80917 Prospective 285 East Norwood

31 Dublin Springs Dublin Blvd & North Powers Blvd Colorado Springs CO 80923 Prospective 149 East Norwood

32 Cottages at Gateway Aeroplaza Drive & South Powers Blvd. Colorado Springs CO 80916 Prospective 92 Security / Rustic Hills

33 Fountain Blvd Aeroplaza Drive & East Fountain Blvd Colorado Springs CO 80916 Prospective 208 Security / Rustic Hills

34 Elan at Pikes Peak Pikes Peak Avenue & Wahsatch Avenue Colorado Springs CO 80903 Prospective 320 Knob Hill / Hillside

35 Pikes Peak Plaza Pikes Peak Avenue & South Prospect Street Colorado Springs CO 80903 Prospective 217 Knob Hill / Hillside

36 Vermijo and Wahsatch East Vermijo Avenue & Wahsatch Avenue Colorado Springs CO 80903 Prospective 154 Knob Hill / Hillside

37 Westgate at Powers NWC Airport Road & North Troy Hill Road Colorado Springs CO 80916 Prospective 440 Eastborough

38 Kaleidos South Murray Blvd & Pulsar Drive Colorado Springs CO 80916 Prospective 150 Pikes Peak Park South / Southborough

39 Silver Key Senior 1575 South Murray Blvd Colorado Springs CO 80916 Prospective 71 Pikes Peak Park South / Southborough

40 Village at Solid Rock 2520 Arlington Drive Colorado Springs CO 80910 Prospective 77 Pikes Peak Park North / Eastlake

41 Cimarron and Sahwatch West Cimarron Street & Sahwatch Street Colorado Springs CO 80903 Prospective 200 Ivywild / Stratton Meadows / Lower Skyway

42 Cimarron and Weber East Cimarron Street & South Weber Street Colorado Springs CO 80903 Prospective 81 Ivywild / Stratton Meadows / Lower Skyway

43 Ivywild on the Creek South Nevada Street & East Ramona Ave Colorado Springs CO 80905 Prospective 164 Ivywild / Stratton Meadows / Lower Skyway

44 Parkside Cimino Drive & Colorado Avenue Colorado Springs CO 80903 Prospective 187 Ivywild / Stratton Meadows / Lower Skyway

Total Prospective 4,042

TOTAL COLORADO SPRINGS 8,657

© 2020 Berkadia Real Estate Advisors LLC. Berkadia® is a trademark of Berkadia Proprietary Holding LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. In California, Berkadia Real Estate Advisors Inc. conducts business under CA Real Estate Broker License #01931050; Vincent B. Norris, CA BRE Lic. # 843890.Berkadia Commercial Mortgage LLC conducts business under CA Finance Lender & Broker Lic. #988-0701; and Berkadia Commercial Mortgage Inc. under CA Real Estate Broker Lic. #01874116. For state licensing details visit: http://www.berkadia.com/legal/licensing.aspx. The information and details contained within this report have been obtained from a third-party and believed to be accurate; however, Berkadia has not independently verified its accuracy. Date of survey: December 2020