Sherman Residential, a division of Benj. E. Sherman & Sons, Inc. (BES), is a family owned Chicago-based real estate firm that focuses on apartment ownership and management around the United States. We are best known for our commitment to maintaining beautiful apartment communities, our exceptional customer service and our outstanding investment opportunities which have generated excellent annual investor returns since 1990. In 2002 we rebranded Benjamin E. Sherman and Sons as Sherman Residential to reflect the new focus and direction of our national multifamily housing business. Since 1990 Sherman Residential has acquired over 16,000 apartment units in 50 communities nationwide. Sherman Residential 2014 Multifamily Acquisition Criteria The objective of the real estate group at Sherman Residential is to acquire existing multifamily apartment communities in designated markets throughout the United States. The following information outlines our current general criteria: Geographical Locations The following metropolitan areas: Phoenix, Arizona Tampa, Florida Atlanta, Georgia Chicago, Illinois Charlotte, North Carolina Raleigh-Durham, North Carolina Greenville-Spartanburg, South Carolina Nashville, Tennesse Austin, Texas Dallas, Texas San Antonio, Texas Property Description Garden-style, mid-rise and high-rise apartment complexes 150 units minimum, built after 1990 Attractive grounds, comprehensive amenity package, good unit mix Strong locations in designated markets Pricing Below comparative replacement cost. Anticipated return in the first year of 6% or greater. Submission Requirements All submissions must have the following items to be expeditiously considered: Current rent roll Complete physical description of improvements Complete color photos - aerial if possible Current concessions and concession history Resident profile report YTD financial statements and prior two years Site plan, floor plans, amenities and unit mix Market data on comparable rental properties and recent sales