Michaelson Real Estate Group, LLC and a private equity investor acquire Whispering Oaks Apartments

Orange City, April 5, 2021

Michaelson Real Estate Group, LLC and a private equity investor have acquired
Whispering Oaks Apartments, an 83-unit multi-housing community in Orange City,
Florida. The asset enjoyed 99% occupancy at the time of purchase.

Built in 1985, Whispering Oaks features a mix of one, two and three-bedroom apartments
in six different floor plans with an average size of 900 square feet. All apartments feature
private patios/balconies, all-electric kitchens with dishwashers and garbage disposals,
and hardwood and carpeted floors. On-site amenities include a tranquil wooded

courtyard, beautiful playground, picnic area and bark park. The property also has on-site
laundry facilities. Whispering Oaks is conveniently located and just minutes away from
the historic district, restaurants, unique boutiques, banking and schools. The property
also benefits from its prime location in proximity to Orlando and Interstate 4.

The property is scheduled to undergo $1.5M in capital improvements. These
improvements include refurbished or enhanced units, upgraded flooring and appliance
replacement.

Michaelson will manage the property. Michaelson specializes in enhancing multifamily
values through marketing, management and repositioning. Michaelson has managed
more than 30,000 apartment and condominium units throughout the Southeast.
For further information please contact:

Michaelson Real Estate Group