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The information contained in this message is intended only for the personal and confidential use of the recipient(s) above named.

This communication does not reflect an intention by Bellaire Multifamily Management, LLC to conduct a transaction or make any agreement by electronic means. Nothing contained in this message or in any attachment shall satisfy the requirements for a writing, and nothing contained herein shall constitute a contract or electronic signature under the Electronic Signatures in Global and National Commerce Act, any version of the Uniform Electronic Transactions Act or any other statute governing electronic transactions.

While the information the basis of any analysis and forecast provided by Bellaire Multifamily Management, LLC is believed to be accurate, and this information has been secured from sources which Bellaire Multifamily Management, LLC believes to be reliable, Bellaire Multifamily Management, LLC makes no representations or warranties, express or implied, as to the completeness or accuracy of the information. The recipient must verify all information and bears all risk for any inaccuracies.

The information contained in any analysis and forecast provided by Bellaire Multifamily Management, LLC may include certain statements, estimates and projections. Such statements, estimates and projections reflect various assumptions by Bellaire Multifamily Management, LLC concerning anticipated trends, which assumptions may or may not occur. No representations are made as to the accuracy of such statements, estimates or projections and actual performance may be materially different from that set forth in such statements, estimates or projections.

Prospective financial results may be affected by fluctuating economic conditions and are dependent upon the occurrence of future events that cannot be assured. Bellaire Multifamily Management, LLC makes no warranty or assurance regarding the achievability of projections nor the data, information and assumptions relied upon therein. Analysis and forecasts constitute Bellaire Multifamily Management, LLC’s judgment as of the date of this material and are subject to change without notice. This communication is for information purposes only.

The payment by the recipient for the contents of this communication does not imply or necessitate exclusivity on the part of Bellaire Multifamily Management, LLC, and further does not preclude Bellaire Multifamily Management, LLC from sharing or disseminating the analysis, forecast and information contained herein with other clients, prospective clients or any other person or entity.

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