Colorado Springs New Construction & Proposed Multifamily Projects 2Q20

Source: Yardi Matrix1000 ft

7

8

9

13

16

17

18

20

23

22

2

5

Lease-Up Under Construction Planned ProspectiveLEGEND

ID PROPERTY UNITS

2 FalconView 288

5 Cortland Grand River Phase II 149

Total Lease Up 437

7 Springs at Foothill Farms 264

8 The Zeb 193

9 Lodge at Black Forest Phase II 286

13 Vue 21 Phase II 156

Total Under Construction 899

16 Ridgeline 280

17 Volta at Voyager Phase II 120

18 Stonebridge Development 232

20 Woodmen Ridge 252

Total Planned 884

22 Ascent by Watermark 360

23 Victory Ridge 285

Total Prospective 645

Colorado Springs New Construction & Proposed Multifamily Projects 2Q20

Source: Yardi Matrix1000 ft

10

11

15

19

24

28

29

30

33

1

3

4

6

Lease-Up Under Construction Planned ProspectiveLEGEND

ID PROPERTY UNITS

1 Retreat at Patriot Park 258

3 Cottages at Sand Creek 84

4 Enchanted Springs 200

6 Luxe Tower 73

Total Lease Up 615

10 Thrive at the Incline Redevelopment 192

11 Thrive at Park's Edge Redevelopment 312

Total Under Construction 504

15 Cottages at Pikeview 168

19 Cottages at North Carefree 68

Total Planned 236

24 Crowne at Rio Vista 285

28 Westgate at Powers 440

29 Silver Key Senior 71

30 Hancock and Delta Mixed-Use 100

33 Ivywild on the Creek 164

Total Prospective 1,060

Colorado Springs New Construction & Proposed Multifamily Projects 2Q20

Source: Yardi Matrix500 ft

12

14

21

34

25 26

27

31 32

Lease-Up Under Construction Planned ProspectiveLEGEND

ID PROPERTY UNITS

12 The Mae on Cascade 177

Total Under Construction 177

14 Colorado and Chestnut 54

21 Moreno Avenue 600

Total Planned 654

25 Elan at Pikes Peak 320

26 Pikes Peak Plaza 217

27 Vermijo and Wahsatch 154

31 Cimarron and Sahwatch 200

32 Cimarron and Weber 81

34 Parkside 187

Total Prospective 1,159

Colorado Springs New Construction & Proposed Multifamily Projects

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ID PROPERTY NAME ADDRESS CITY STATE ZIP STATUS UNITS SUBMARKET PERMITDATE

FORECASTED COMPLETION DATE

START OFRENT-UP

1 Retreat at Patriot Park 5550 Cernan Heights Colorado Springs CO 80915 Lease-Up 258 Security / Rustic Hills 04/25/2019 01/31/2021 04/10/2020

2 FalconView 10691 Cadence Point Colorado Springs CO 80921 Lease-Up 288 Northgate / Flying Horse 06/01/2018 09/30/2020 07/02/2019

3 Cottages at Sand Creek 4046 Mallette Heights Colorado Springs CO 80916 Lease-Up 84 Pikes Peak Park South / Southborough

09/30/2019 07/31/2020 02/01/2020

4 Enchanted Springs 3281 Divine Heights Colorado Springs CO 80922 Lease-Up 200 East Norwood 08/01/2018 07/31/2020 11/01/2019

5 Cortland Grand River Phase II 7755 Kaleb Grove Road Colorado Springs CO 80920 Lease-Up 149 Briargate / West Norwood 07/02/2018 07/31/2020 04/01/2019

6 Luxe Tower 107 West Cheyenne Road Colorado Springs CO 80906 Lease-Up 73 Ivywild / Stratton Meadows / Lower Skyway 07/09/2018 07/31/2020 09/01/2018

Total Lease-Up 1,052

7 Springs at Foothill Farms 1203 Affirmed View Colorado Springs CO 80921 Under Construction 264 Northgate / Flying Horse 04/06/2020 10/31/2021

8 The Zeb 1721 Telstar Drive Colorado Springs CO 80920 Under Construction 193 Northgate / Flying Horse 05/01/2020 05/31/2021

9 Lodge at Black Forest Phase II 7761 Bear Run Point Colorado Springs CO 80924 Under Construction 286 Northgate / Flying Horse 03/02/2020 12/31/2020

10 Thrive at the Incline Redevelopment 260 North Murray Blvd Colorado Springs CO 80916 Under Construction 192 Eastborough 12/31/2018 10/31/2020

11 Thrive at Park's Edge Redevelopment 720 Chapman Drive Colorado Springs CO 80916 Under Construction 312 Gateway Park 10/31/2018 10/31/2020

12 The Mae on Cascade 609 South Cascade Avenue Colorado Springs CO 80903 Under Construction 177 Ivywild / Stratton Meadows / Lower Skyway 03/01/2018 08/31/2020

13 Vue 21 Phase II 4610 Nautilus Peak View Colorado Springs CO 80924 Under Construction 156 Northgate / Flying Horse 08/11/2019 07/31/2020

Total Under Construction 1,580

14 Colorado and Chestnut 532 West Colorado Avenue Colorado Springs CO 80903 Planned 54 Old Colorado City / Manitou Springs

15 Cottages at Pikeview North Cascade Avenue & Winters Drive Colorado Springs CO 80907 Planned 168 Holland Park / Cragmoor

16 Ridgeline Old Ranch Road & North Powers Blvd Colorado Springs CO 80908 Planned 280 Northgate / Flying Horse

17 Volta at Voyager Phase II 11275 Nahcolite Point Colorado Springs CO 80921 Planned 120 Northgate / Flying Horse

18 Stonebridge Development 8205 North Union Blvd Colorado Springs CO 80920 Planned 232 Briargate / West Norwood

19 Cottages at North Carefree North Carefree Circle & Van Teylingen Drive Colorado Springs CO 80917 Planned 68 Parkmoor / Garden Ranch

20 Woodmen Ridge Targa Drive & East Woodmen Road Colorado Springs CO 80923 Planned 252 East Norwood

21 Moreno Avenue 127 West Moreno Avenue Colorado Springs CO 80903 Planned 600 Ivywild / Stratton Meadows / Lower Skyway

Total Planned 1,774

22 Ascent by Watermark Tutt Boulevard & East Woodmen Road Colorado Springs CO 80908 Prospective 360 Northgate / Flying Horse

23 Victory Ridge Interquest Pkwy & Voyager Pkwy Colorado Springs CO 80908 Prospective 285 Northgate / Flying Horse

24 Crowne at Rio Vista SWC Barnes Road & Rio Vista Drive Colorado Springs CO 80917 Prospective 285 East Norwood

25 Elan at Pikes Peak Pikes Peak Avenue & Wahsatch Avenue Colorado Springs CO 80903 Prospective 320 Knob Hill / Hillside

26 Pikes Peak Plaza Pikes Peak Avenue & South Prospect Street Colorado Springs CO 80903 Prospective 217 Knob Hill / Hillside

27 Vermijo and Wahsatch East Vermijo Avenue & Wahsatch Avenue Colorado Springs CO 80903 Prospective 154 Knob Hill / Hillside

28 Westgate at Powers NWC Airport Road & North Troy Hill Road Colorado Springs CO 80916 Prospective 440 Eastborough

Colorado Springs New Construction & Proposed Multifamily Projects

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ID PROPERTY NAME ADDRESS CITY STATE ZIP STATUS UNITS SUBMARKET PERMITDATE

FORECASTED COMPLETION DATE

START OFRENT-UP

29 Silver Key Senior 1575 South Murray Blvd Colorado Springs CO 80916 Prospective 71 Pikes Peak Park South / Southborough

30 Hancock and Delta Mixed-Use 2155 Hancock Expwy Colorado Springs CO 80910 Prospective 100 Pikes Peak Park North / Eastlake

31 Cimarron and Sahwatch West Cimarron Street & Sahwatch Street Colorado Springs CO 80903 Prospective 200 Ivywild / Stratton Meadows / Lower Skyway

32 Cimarron and Weber East Cimarron Street & South Weber Street Colorado Springs CO 80903 Prospective 81 Ivywild / Stratton Meadows / Lower Skyway

33 Ivywild on the Creek South Cascade Avenue & Cheyenne Blvd Colorado Springs CO 80905 Prospective 164 Ivywild / Stratton Meadows / Lower Skyway

34 Parkside Cimino Drive & Colorado Avenue Colorado Springs CO 80903 Prospective 187 Ivywild / Stratton Meadows / Lower Skyway

Total Prospective 2,864

TOTAL COLORADO SPRINGS 7,270

© 2020 Berkadia Real Estate Advisors LLC. Berkadia® is a trademark of Berkadia Proprietary Holding LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. In California, Berkadia Real Estate Advisors Inc. conducts business under CA Real Estate Broker License #01931050; Vincent B. Norris, CA BRE Lic. # 843890.Berkadia Commercial Mortgage LLC conducts business under CA Finance Lender & Broker Lic. #988-0701; and Berkadia Commercial Mortgage Inc. under CA Real Estate Broker Lic. #01874116. For state licensing details visit: http://www.berkadia.com/legal/licensing.aspx. The information and details contained within this report have been obtained from a third-party and believed to be accurate; however, Berkadia has not independently verified its accuracy. Date of survey: July 2020