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DISCLAIMER (C) 2015 ABI Multifamily | The information and details contained herein have been obtained from third-party sources believed to be reliable; however, ABI Multifamily has not independently verified its accuracy.   ABI Multifamily makes no representations, guarantees, or express or implied warranties of any kind regarding the accuracy or completeness of the information and details provided herein, including but not limited to the implied warranty of suitability and fitness for a particular purpose.   Interested parties should perform their own due diligence regarding the accuracy of the information.   SOURCES: ABI Research / Bureau of Labor Statistics / Census Bureau / Pierce-Eislen / Vizzda / US Chamber of Commerce

TUCSON OFFICE | 1650 NORTH KOLB ROAD, STE. 230, TUCSON, AZ 85715 | P: 520.265.1945 | ABIMULTIFAMILY.COM

Avg Sales Price Per Unit100+ Units 10-99 Units

Avg Y

r Blt Avg Yr Blt

1981 1968

10 -99 Units100+

Units

$114M $24MTransaction Volume

SNAP STATSTUCSON MSA OVERVIEW 1H | Avg Effective Rent/Vacancy

1H 2015 Sales Stats

10+

Un

it P

rop

ert

ies

Avg Vacancy Rate y-o-y

$55.23 (2014)+10.12% y-o-y

$82M (2014)+38.67% y-o-y

$60.22 (2014)-19.96% y-o-y

$17M (2014)+45.37% y-o-y

1H 2015

$722

8.2%

1H 2014

$707

9.1%

$15 (2.1%)

0.9%

Avg Effect ive Rent y-o-y

Increase / Decrease

TUCSON MSA | MULTIFAMILY | 1ST HALF 2015

Total Population

Population Growth (%)

Employment Growth (%)

Unemployment Rate (%)

Median HH Income

Median HH Income Growth

Per Capita Income

Per Capita Income Change

1,007,162

1.1%

1.92%

4.9%

$44,612

0.4%

$37,063

1.01%

ADOA, EBRC Estimate

ADOA, EBRC Estimate

Civilian Labor Force / Y-o-Y change

as of May 2015

2013 Census Estimate

Census Estimate 2008 - 2013

Ne

w C

on

stru

ctio

n

Units Delivered 2011 - YTD 2015 Projection

$60.82 $48.20Avg Price/SF

0

10000

20000

30000

40000

50000

60000

$38,736

1H 2013 1H 20131H 2014 1H 20141H 2015 1H 20150

5000

10000

15000

20000

25000

30000

35000

40000

$28,614

Top 1H 2015 Sales by Price/Unit

The Place at Wilmot NorthTucson, 180 units$11,300,000$62,778/unit$79.77/SFBuilt 1979

Arcadia ParkTucson, 288 Units$17,530,000$60,868/unit$78.15/SFBuilt 1980

The Place at Broadway EastTucson, 120 Units$7,000,000$58,333/unit$74/SFBuilt 1977

Flower PlazaTucson, 14 Units$700,000$50,000/unit$53.85/SFBuilt 1988

Top 1H 2015 Sales by Price/Unit

GranadaTucson, 10 Units$875,000$87,500/unit$129.08/SFBuilt 1908

BermudaTucson, 12 Units$789,990$65,833/unit$65.16/SFBuilt 2000

0 300 600 900 1200 1500

1,150

1,294

989

1,2062012

2013

2014

2015

Avg Year Built