$250M+ of High Priority Opportunities* 4 it WO ti ll Pr .11 i Hit allir • '1.11i . 0 14kitillirl H — nositut.111 ,111 Project Location Strategy Total Capital/GT€S Approval Stage Status Vegas Las Vegas, NV Apartment $88M Fully approved, Termsheet signed, Apartment Development $35M breaking ground Q2 '19 Existing JV Partner Cadence B2R Phoenix, AZ Mixed Use $33M Entitled, permitting Existing Master Plan $16M plans under review investment owned by GTIS Bronx Office Bronx, NY Office $24M Fully approved, Termsheet Development $18M GMP in place submitted, Existing JV Partner Boulder Boulder, CO Apartment $167M Under construction Existing Mixed Use and Office Development $67M investment owned by GTIS Oakland Oakland, CA Apartment $192M Project approval Underwriting Apartment Development $77M expected spring 2019 Anaheim Anaheim, CA Townhome $78M Existing operating Underwriting, RV Park Development $30.SM RV Park Existing JV Partner • There can be no guarantee that pipeline investments v it be consummated by GTIS Qualified Opportunity rundlic or at all. 19 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0071211 CONFIDENTIAL SDNY_GM_00217395 EFTA01375656