Asset Services | Single - Family Rental Platform

ASSET SERV I CES S I NGLE - FAMI LY RENTAL PLATFORM The leader in the art of neighboring

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INTRODUCTION Cushman & Wakefield offers a full suite of multifamily

management solutions to deliver maximum value and customized service for all asset types, including single-family rentals (SFR) and build-to-rent (BTR) homes. As the first commercial real estate firm to offer multifamily services on a national scale, Cushman & Wakefield offers expertise and resources that are unmatched in the industry to prepare our clients for what’s next. SFR has never been more attractive as millennials age into the heads of families, work-from home put a premium on more spacious housing options, and barriers to first-time home ownership persist. Cushman & Wakefield creates tailored solutions that achieve each client’s unique objectives for their property or portfolio. From our established management operating process, which allows us to increase asset revenue and reduce expenses, to our top-of-the-line technology, our clients trust us to enhance the overall performance of their portfolio. Our team of talented professionals has the customer-service focus and maintenance expertise single-family renters expect. We create meaningful resident experiences to drive satisfaction and retention.

SERVICES & EXPERTISE

TRAINING & DEVELOPMENT

ENERGY & SUSTAINABILITY SERVICES

CONSTRUCTION MANAGEMENT & MAINTENANCE

ACCOUNTING & FINANCIAL REPORTING

INFORMATION TECHNOLOGY

CONTRACT & VENDOR MANAGEMENT

RISK MANAGEMENT

OPERATIONS

MARKETING

BRANDING

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5,000+ homes managed in over 25 markets

= C&W’s SFR Presence

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Artisan Living Harvest Meadows Austin, TX | 118 Units

Parkview At Lynn Haven Lynn Haven, FL | 50 Units

Click for more information

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Moderne at Centennial Las Vegas, NV | 185 Units

Amber Pines Houston, TX | 124 Units

Click for more information

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BOOMING BUILD FOR RENT MARKET Demand for BTR has steadily increased over the last decade as renters increasingly prefer home-like living without the burden of home ownership. A desire for more space and suburban living has spurred this demand, and when coupled with heavily institutionalized investment, BTR growth is expected to top traditional multifamily, office, retail, storage, and hospitality growth by 2022.

PROPERTY INCOME BREAKDOWN

$100-$200K 25%

$200K+ 15%

$100K+ Average HH Income

NATIONAL POPULATION TRENDS BY COHORT

23.5 23 22.5 22 21.5 21 20.5 20 19.5 19

23.3

22.1

21.9

<$100K 60%

21.2

21.1

20.9

41% Of Household Incomes make over $100k+

19.6

15-19

20-24 25-29 30-34 35-39 40-44 45-49

1/3 Renter Households Live in Single-Family Units

1M+ More 4 Person Households by 2024

10% Decline in Homeownership Among Households 25-44

SHIFTING DEMOGRAPHICS DRIVE DEMAND As rising home values and increasing debt burdens weigh on prospective home buyers, millennials and baby boomers alike are increasingly searching out build-to rent communities that give the conveniences and independence of a home without the extra financial burdens that come with home ownership.

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SURGING DEMAND IN BTR

1/3 Renter Households live in single-family units

1M+ More 4 person households by 2024

10%+ Decline in Homeownership among households 25-44

COVID-19 SPURRED THE ALREADY GROWING MIGRATION TO SUBURBS

SUBURBAN POPULATION GROWTH STRONGER SINCE ‘16

DIFFERENCE IN POPULATION GROWTH, 2018-19*

Primary City Growth

Suburb Growth

Markets (MSAs) where 2018-2019 population growth was higher in primary city (7 of the top 25 largest).

1.25%

1.00%

0.75%

From 2018 to 2019, the majority of U.S. markets had stronger population growth in the suburbs.

0.50%

0.25%

0.00%

-75 -50 -25 0 25 50 75 100 125 150 175 200

2011

2012 2013 2014 2015 2016 2017 2018 2019

Growth: Suburbs vs. Primary City (bps)

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DEMAND FOR PURPOSE BUILT

POPULATION BY COHORT

PRESENCE IS MASSIVE, BUT FRAGMENTED

FUTURE DEMAND

23

Owned: 62% (78M Units)

22.5

TOTAL HOUSING

22

Rented: 38% (48M Units)

21.5

21

Single Family Rental: 35% (17M Units)

Millions of People

20.5

Mobile Homes, Boats, Etc.:

20

4% (2M Units)

RENTAL HOUSING

2-9 Unit Apartments: 29% (14M Units)

10+ Unit Apartments: 31% (15M Units)

19.5

19

15-19 20-24 25-29

30-34 35-39 40-44 45-49

Age

Source: John Burns Real Estate Consulting

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CONTACT

Jeremy Edmiston Senior Managing Director Single-Family Rentals

+1 214 891 7868 jeremy.edmiston@cushwake.com