Investor Presentaiton

Development Transactions Superior Locations with Limited New Supply BRT APARTMENTS Pursue Class A / A+ new construction in emerging Southeast US markets Willing to provide at least 50% of the required equity with well- capitalized development partners ☐ Garden style or mid-rise construction Targeting unlevered stabilized return of at least 6% Canalside Sola, Columbia, SC SOLA Location Estimated Development Cost Capital Drawn (Debt and Equity) Planned Units Bells Bluff, Nashville, TN (rendering) Status Columbia, SC $60,697,000 $59,994,000 339 Occupancy is 85% as of 12/31/2020 Nashville, TN $73,263,000 $72,324,000 402 Occupancy is 74% as of 12/31/2020 PAGE 18 Source: Company Filings

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