Investment Overview

Well-positioned in proximity to the University of Arizona, the Casa Bonita Portfolio represents 29 properties that are predominately located north of Speedway Boulevard in “high barrier to entry” neighborhoods North University and Jefferson Park. Each property is comprised of two independently leased residences and has maintained historically strong occupancy, consistently near 100%. Collectively, the Casa Bonita Portfolio offers 58 semi-detached homes and 282 beds, with each home rented under a single lease rather than on a per-bed basis. The Portfolio presents the investment community with an opportunity to maximize an in-place revenue stream and tailor expenses pursuant to an optimized hold or exit strategy across each property. Casa Bonita benefits from grandfathered use rights permitting higher-density occupancy that generally cannot be replicated under current zoning regulations in these neighborhoods near the University of Arizona. The portfolio therefore provides investors with the opportunity to generate significant rental income on a per-bed basis while acquiring the homes at a discount to their aggregate individual-sale values. The Portfolio’s unique composition provides investors with significant flexibility in executing a range of investment strategies. With 58 independently rentable homes across 29 properties, ownership can capitalize on the Portfolio’s existing cash flow while pursuing operational efficiencies and rental growth, with the added flexibility to selectively monetize individual properties over time. This combination of durable student-housing demand, diversified rental income, and multiple potential exit strategies creates a compelling opportunity to enhance value throughout the investment period.