August 2023

• $79,246 monthly net operating income – an 8.93% increase over July
• 7% occupancy
• $104,938 rental income – a 4.27% increase over July

Year-To-Date 2023 Financial Performance

• Average square foot occupancy has increased 13%
• Square foot occupancy has increased 11.5%
• Rental income has increased $14,294 per month
• Net income has increased $10,101 per month

Managed By Largest Self Storage Operation in the U.S.

• Upon its merger with Life Storage, Inc., Extra Space Storage became the largest storage operation in the U.S.
• This merger will make EXR the biggest player in the self-storage market with 12% of the market share
• The combined company is expected to have a pro forma equity market cap of approximately $36 billion and total enterprise value of approximately $47 billion.

New High Quality Self Storage Facility

• The Class A institutional asset was recently constructed in 2019
• High quality concrete and steel construction
• The newly constructed self-storage facility benefits from 100% climate controlled units
• Variety of unit sizes from 5 x 5 to 20 x 20

Historically High Occupancy

• As of May 2023, ESS has maintained high occupancy levels with the average rolling 12-month total unit occupancy of 86.2% and total square foot occupancy of 85.6%

Opportunity to Increase Investment Return

• An investor can increase overall return by increasing occupancy to a conservative stabilized 90% occupancy.
• Potential rents per square foot have the ability to steadily increase by an average of approximately $3 psf, further increasing an investors overall return on investment

Passive Investment

• Ideal investment for any passive investor – minimal landlord obligations
• Any investor will benefit from the management by Extra Space Storage, a best-in-class company that handles all day-to-day activities including maintaining the subject property
• Extra Space Storage provides thorough monthly financials and reports creating full transparency to the health of the facility
• The new high-quality construction eliminates any significant capital expenses in the near future for any investor

 Essential Business & Recession Proof Investment

• By 2027, the global hemodialysis and dialysis market is expected to reach $178 billion, a 7.7% compounded annual growth rate according to Future Business Insights.
• Given the current market conditions, the medical sector provides security to any investor.
• Post-COVID, investors are seeking “Essential Businesses” that continue to weather any storm and are not impacted by ongoing disruptions.
• 8 million people worldwide depend on dialysis treatment with 85% for treatments in the US performed in-center.

Phenomenal Demographics

• 278,375 population in 5-mile radius
• 42% annual population growth rate between 2020-2022 in 1-mile radius
• 2022 median age of 37 years old
• $135,756 household incomes in 5-mile radius
• 34% annual household income growth rate between 2020 – 2022

High Traffic Along Major Corridor to Highway

• The subject property benefits from its ideal location along the highly trafficked Bethany Drive with 35,610 cars per day
• Bethany Drive is a major thoroughfare that connects residents and commuters to Highway 75, the major highway that connects Allen to downtown Dallas

Signalized Intersection – Multiple Access Points

• Located at the signalized intersection of Bethany Drive and S. Greenville Avenue providing multiple ingress and egress points of access, imperative for self-storage clients

Watters Creek Village – 52 Acre Mixed Use Development

• Extra Space Storage is ideally located across Highway 75 from this unique, resort-style mixed-use development
• This major trade area draw includes several retail options, restaurant, office space and residential lofts – ideal trade area generator for a self-storage facility
• Watters Creek is anchored by Market Street Grocery, Cheesecake Factory, PF Chang’s, Mi Cocina, Fish City Grille, DSW Shoe Warehouse and several other nationals
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