Phoenix MSA | Multifamily | 2014 - Year End

SNAP STATS

4Q | Avg Effective Rent/Vacancy

1,870

289,959

6.2%

Population Growth (%) $748Total Population

Avg Effective Rent y-o-y

Unemployment Rate (%)

Employment Growth (%)

Median HH Income

$7124,330,000

6.9%

5.9%

4Q 2014

3.2%4Q 2013

1.2%Avg Vacancy Rate y-o-y

$61,900

Phoenix MSA Overview20

+uni

tpr

oper

ties $36

0.7%

Increase/Decrease

Total # of Properties (20+)*

Total # of Units*2010 2011 2012 2013 2014

0

1000

2000

3000

4000

5000

Units Delivered

New

Con

stru

ctio

n

as of Nov 2014

y-o-y growth

Census estimate

4Q 2014

4Q 2013

976

1,446

units delivered

27%y-o-y increase

*Total Market Size Estimate Only

2,59

3

615

1,66

8

3,56

94,527

20-99100+

AVERAGE SALESPRICE PER UNIT

0

10000

20000

30000

40000

50000

60000

70000

80000

90000

2010 2011 2012 2013 20140

10000

20000

30000

40000

50000

2010 2011 2012 2013 2014

Avg Yr Blt

$83,830 $49,155

Avg Yr Blt

units units

2014 Sales Stats

Broadstone CamelbackPhoenix, 270 units$74,750,000 $276,852/unit $341.39/SFBuilt 2013

TransactionVolume

Avg Price/SF

Avg Yr Blt

$104.13 $63.31

$2.5B

1971Avg Yr Blt

1988

$208MTop 2014 Sales by Price/Unit Top 2014 Sales by Price/Unit

Alta RavenwoodTempe, 240 units$44,450,000 $185,208/unit $145.70/SFBuilt 2008

18 at BiltmorePhoenix, 51 units$5,600,000$109,804/unit$122.97/SFBuilt 1957/62

Scottsdale HaciendasScottsdale, 79 of 180 units$9,250,000$117,089/unit$116.71/SFBuilt 1985

District on Apache (Student)Tempe, 279 units$91,000,000$326,165/unit$259.48/SFBuilt 2013

20-99 units100+

units

VerandasPhoenix, 68 units$7,050,000$103,676/unit$99.78/SFBuilt 1987

DISCLAIMER (C) 2014 ABI Multifamily | The information and details contained herein have been obtained from third-party sourcesbelieved to be reliable; however, ABI Multifamily has not independently verified its accuracy. ABI Multifamily makes norepresentations, guarantees, or express or implied warranties of any kind regarding the accuracy or completeness of the informationand details provided herein, including but not limited to the implied warranty of suitability and fitness for a particular purpose. Interested parties should perform their own due diligence regarding the accuracy of the information. SOURCES: ABI Research /Bureau of Labor Statistics / Census Bureau / Pierce-Eislen / Vizzda / US Chamber of Commerce

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