Appreciate SPAC Presentation Deck
EXECUTIVE SUMMARY
Investment Highlights
Appreciate is an end-to-end
marketplace and property
management services platform
that seamlessly facilitates
investment in the large and
highly fragmented SFR market
4
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Appreciate
Substantial and fragmented total addressable market ("TAM") of
$145B(¹) with powerful demographic and secular tailwinds
End-to-end SFR marketplace and management services
platform that attracts both institutional and retail investors
Highly scalable, front-loaded recurring revenue model with a
LTV/CAC of 13.6x(²)
Proven financial results with attractive margins and profitable
unit economics
Demonstrable organic and inorganic growth opportunities
across all business segments
Experienced management team with deep SFR industry expertise
(1)
The Iceberg Report, Freddie Mac, John Burns Real Estate Consulting, Company Estimates
(2) Based on fiscal year 2021 for retail property management customers. LTV based on 2021A gross margin of $8,246 per customer, assuming average fees, property value and customer life, and one Marketplace transaction
during tenure of property; CAC based on 2021A average cost to acquire customers of $608 per customer
Private & Confidential
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