MANAGEMENT PLAN. 252 East Highland Avenue Milwaukee, WI A T DREXEL TOWN SQUARE

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1 1 MARKETING/BRANDING Siegel-Management Company will employ an aggressive and calculated multi-channel marketing strategy in order to achieve set goals and objectives. SERVICES Branding / Logo Development Print Support Materials Design brochures, flyers, menus, referral cards, etc. Print Publication Ads Direct Mail / Eblast Campaigns Website Social Media Campaigns and online ads Signage A T DREXEL TOWN SQUARE

2 408 WEST FLORIDA STREET, MILWAUKEE BRIX408.COM C M Y CM MY CY CMY K SkyClubBrochureF4_O_HR.pdf 2 2/9/16 4:45 PM 2 SAMPLE PRINT MATERIAL PREMIER RESIDENCES FOR LE ASE A WHOLE NEW LEVEL OF SOPHISTICATION COMING JUNE 2015 VOTED 2013 PROJECT OF THE YEAR BY THE BUSINESS JOURNAL luxury condominiums live at the top voted best new residential development in wisconsin & 2013 project of the year by the business journal apartment homes register to win free rent for a year milwaukee s premier award-winning residential tower elevate your lifestyle now leasing high rise living at its best STACKED WITH STYLE OPEN HOUSE JUNE 30TH Meticulously restored and repurposed, this storied building began as a candy factory over one hundred years ago. This seven-floor classic Cream City brick structure with true, open concept one, two and three bedroom apartment lofts. The comforts of home are couched in bold sophisticated styling and surrounded by the beating heart of a vibrant city. SOCIAL SPACES authentic open concept lofts Join Hovde Properties for an exclusive look at BRIX, Milwaukee s newest luxury apartment lofts. Tuesday, June 30th 4:30PM to 6:30PM BRIX Apartment Lofts 3rd floor Clubroom 408 west florida street Milwaukee Hors d-oeuvres and cocktails will be served.

3 MA NAGEM ENT P LAN 3 SAMPLE PRINT ADS unveiled. milwaukee a whole new level of luxury condominium living. Spectacular 24-hour skyline, river, and Lake Michigan views. Units from $248,000 to $1.4M. Contact Lauren Siegel, OVATION309_fullPageR2.pdf 1 3/4/15 5:33 PM OVATION309_FallCampusAdF_O.pdf 1 9/29/15 2:36 PM COMING JUNE 1, 2015 C M Y C M Y CM CM MY MY CY CY CMY CMY K K MADISON S PREMIER RESIDENCES FOR LEASE 252 East Highland Avenue Milwaukee, WI ovation309.com

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5 5 SAMPLE EBLASTS OPENING JUNE 2015 MADISON S PREMIER RESIDENCES FOR LEASE luxury condominiums visit website contact us LOCK INTO SPECIAL CONSTRUCTION PRICING BY MAY 8 building top off january 2012 view our progress vertical sensation As OVATION 309 nears completion, so does our special construction pricing. Schedule a tour of our models and experience the best in city living. Floor to Ceiling Windows Hard Surface Flooring Solar Drop Shades Energy Star Full-size Washer / Dryer Energy Saving Stainless Steel Appliances Quartz Kitchen Countertops Luxury Tiled Showers with Glass Doors Downtown Capitol & Lake Views Private Rooftop Lounge & Bar Outdoor Terraces with Sun Deck, Gas Grills and Fireplaces Overnight Guest Suites Massage Studios / Saunas Men / Women Locker Rooms Concierge Services Pet Pampering Services Pet Terrace Walking Area Heated Indoor Parking Personal Wine Lockers SPECIAL CONSTRUCTION PRICING ENDS MAY 8 VISIT OUR LEASING OFFICE AT FAIRCHILD & WASHINGTON SCHEDULE YOUR PRIVATE HARD HAT TOUR TODAY SCHEDULE SHOWING APPLY ON-LINE BROWSE FLOOR PLANS CONTACT US One, two and three bedroom luxury residences for lease 309 west johnson street ovation309.com GRAND OPENING CELEBRATION THURSDAY, OCTOBER 8TH, 2015 Join Hovde Properties as we celebrate the completion of BRIX, Milwaukee s newest apartment lofts. Formerly the George Ziegler Candy Factory, BRIX has been meticulously restored and repurposed into one, two and three bedroom apartment lofts. Thursday, October 8th 5:30PM to 8:30PM BRIX Apartment Lofts 3rd floor Clubroom 408 west florida street Milwaukee Featuring live music, hors d oeuvres and cocktails. 30 story high rise 844 to 2,500 square feet concierge services private elevator access floor to ceiling windows exquisite finishes spectacular views private inset terraces from $243,000 to $2.5m construction fact The Moderne s overall post tension concrete structure will require almost 20,000 cubic yards of concrete, 3,900 in the mat foundation alone. presales underway during construction only 13 select residences are available construction fact There are 665 total precast concrete panels, the heaviest at 34,000 lbs. Obsidian rock is integrated into the dark tinted concrete panels and flow into a black granite at the base of the building to add a little sparkle. our new sales center is now open call lauren siegel to arrange a private viewing lsiegel@firstweber.com at the corner of old world third and juneau, downtown milwaukee SAMPLE SOCIAL MEDIA

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7 Year: 2018 Square Footage: Address: 7860 Hwy 42 Report: Budget Version: 6/8/ :06 Description January February March April May June July August September October November December Total PSF INCOME Total Income Full building $ - $ 2, $ 2, $ 2, $ 5, $ 5, $ 7, $ 7, $ 2, $ 2, $ 2, $ 5, , $ 3.81 Top Floor $ 12, $ 10, $ 10, $ 10, $ 8, $ 8, $ 6, $ 6, $ 10, $ 10, $ 10, $ 8, , $ 9.15 Library $ $ $ $ $ $ 1, $ 1, $ 1, $ 1, $ $ $ 1, , $ 0.88 Lawn $ - $ - $ - $ - $ - $ 1, $ 1, $ 2, $ $ - $ - $ - 5, $ Total Income $ 12, $ 12, $ 12, $ 12, $ 13, $ 15, $ 16, $ 16, $ 14, $ 13, $ 13, $ 14, $ 168, $ Operating Expenses Janitorial Janitorial Services $ $ $ $ $ $ $ $ $ $ $ $ $ 9, $ 0.81 Monthly Janitorial service - entire building Total Janitorial $ $ $ $ $ $ $ $ $ $ $ $ $ 9, $ 0.81 Expense Description Other Janitorial Window Washing $ $ $ $ $ $ $ 1, $ 0.13 Summer exterior and interior window cleaning Floor re-finishing $ $ $ 1, $ nd Floor Mat Service $ $ $ $ $ $ $ $ $ $ $ $ $ 1, $ 0.10 Winter frequency increases and exchange of mats due to snow Total Other Janitorial $ $ $ $ $ $ $ $ $ $ $ $ $ 3, $ HVAC HVAC $ 2, $ 0.19 Boiler startup and shutdwon plus chemical changes HVAC Supplies $ $ 1, $ $ 1, $ 0.15 Filter changes plus coil cleaning Total HVAC $ - $ - $ $ - $ 1, $ - $ - $ $ - $ - $ 3, $ Repairs and Maintenance Trash Removal $ $ $ $ $ $ $ $ $ $ $ $ $ 2, $ yd Dumpster picked up 2 days a week Electrical Repairs $ $ $ $ $ $ $ $ $ $ $ $ $ $ 0.03 Elecical allowance Lock and Key $ $ $ $ $ $ $ $ $ $ $ $ $ $ 0.03 Lock and key allowance Maintenance Labor $ $ $ $ $ $ $ $ $ $ $ $ $ 5, $ hours per $58/hr - will likely use Village maintenance staff Plumbing Repairs $ $ $ $ $ $ $ $ $ $ $ $ $ $ 0.03 Plumbing repair allowance Elevator Repairs and Maintenance $ $ $ $ $ $ $ $ $ $ $ $ $ 2, $ 0.19 Monthly elevator maintenance plus CAT test plus inspection Landscaping and Grounds $ $ $ $ $ $ $ $ 4, $ 0.39 Mowing Services Exterminating $ $ $ $ $ $ $ $ $ $ $ $ $ $ 0.08 Monthly extermination service Fire and Life Safety $ $ $ $ $ $ $ $ $ $ $ $ $ 2, $ 0.20 Allowance for fire and life safety - annual testing and certification Parking Lot Striping $ $ $ 0.07 Annual parking lot striping Repairs and Maintenance Materials $ $ $ $ $ $ $ $ $ $ $ $ $ $ 0.05 Allowance for materials Total Repairs and Maintenance $ 1, $ 1, $ 1, $ 1, $ 2, $ 1, $ 1, $ 2, $ 1, $ 1, $ 1, $ 1, $ 20, $ Utilities Electricity $ 1, $ 1, $ 1, $ 1, $ 1, $ 1, $ 1, $ 1, $ 1, $ 1, $ 1, $ 1, $ 21, $ 1.80 Average allowance for electricity across twelve months Water and Sewer $ 4, $ 0.37 Quartely water/ sewer bill Gas $ 1, $ 1, $ 1, $ 1, $ 1, $ 1, $ 7, $ 0.60 Assuming a boiler/ furnance/ split system Total Utilities $ 4, $ 2, $ 2, $ 4, $ 1, $ 1, $ 2, $ 1, $ 1, $ 1, $ 4, $ 2, $ 32, $ General and Administrative Management Fees $ 2, $ 2, $ 2, $ 2, $ 2, $ 2, $ 2, $ 2, $ 2, $ 2, $ 2, $ 2, $ 30, $ 2.54 Monthly management fee Event Manager/Building Manager $ 5, $ 5, $ 5, $ 5, $ 5, $ 5, $ 5, $ 5, $ 5, $ 5, $ 5, $ 5, $ 70, $ 5.93 Marketing $ 1, $ 1, $ 1, $ 1, $ 1, $ 1, $ 1, $ 1, $ 1, $ 1, $ 1, $ 1, $ 12, $ Office Supplies $ $ $ $ $ $ $ $ $ $ $ $ $ $ 0.08 Monthly allowance for copies, postage etc Telephone/IT Charges $ $ $ $ $ $ $ $ $ $ $ $ $ 2, $ 0.21 Communication lines for elevator and fire system - WiFi and internet Total General and Administrative $ 9, $ 9, $ 9, $ 9, $ 9, $ 9, $ 9, $ 9, $ 9, $ 9, $ 9, $ 9, $ 115, $ Total Recoverable Expenses $ 15, $ 14, $ 16, $ 16, $ 15, $ 15, $ 15, $ 14, $ 14, $ 15, $ 15, $ 15, $ 185, Non-Operating Expenses???? Total Operating Expenses $ 15, $ 14, $ 16, $ 16, $ 15, $ 15, $ 15, $ 14, $ 14, $ 15, $ 15, $ 15, $ 185, $ Net Operating Income/(Loss) $ (3,378.08) $ (1,778.08) $ (3,528.08) $ (3,778.08) $ (1,362.78) $ (12.78) $ $ 1, $ (412.79) $ (2,162.79) $ (2,443.09) $ (1,128.09) $ (17,360.20) (1.47) Depreciation and Amorization Expenses Debt Service Net Income $ (3,378.08) $ (1,778.08) $ (3,528.08) $ (3,778.08) $ (1,362.78) $ (12.78) $ $ 1, $ (412.79) $ (2,162.79) $ (2,443.09) $ (1,128.09) $ (17,360.20) $ (1.47) Cash Flow Before Capitals $ (3,378) $ (1,778) $ (3,528) $ (3,778) $ (1,363) $ (13) $ 737 $ 1,887 $ (413) $ (2,163) $ (2,443) $ (1,128) $ (17,360) $ (1.47) Capital Expenditures Owner Distribution NET CASH FLOW $ (3,378) $ (1,778) $ (3,528) $ (3,778) $ (1,363) $ (13) $ 737 $ 1,887 $ (413) $ (2,163) $ (2,443) $ (1,128) $ (17,360) $ (1.47) Beginning Cash Balance $ - $ (3,378) $ (5,156) $ (8,684) $ (12,462) $ (13,825) $ (13,838) $ (13,101) $ (11,213) $ (11,626) $ (13,789) $ (16,232) Ending Cash Balance $ (3,378) $ (5,156) $ (8,684) $ (12,462) $ (13,825) $ (13,838) $ (13,101) $ (11,213) $ (11,626) $ (13,789) $ (16,232) $ (17,360) $ $ $ $ (1.47) PSF-Historic