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REFERRAL LEADS TO NEW MANAGEMENT OPPORTUNITY FOR PPA REAL ESTATE MANAGEMENT

AUSTIN, Texas—A good referral is worth its weight in gold and for PPA Real Estate Management,
it also means the management of a new property, Ashton Park Apartments in Texas City, Texas.
Anna Stanislowski, investor at one of PPA REM’s current properties, Tierra Bella Apartments in
Austin, Texas, knew that Ashton Park needed a new property management company and
recommended PPA REM. One thing led to another and here we are today; PPA REM is now
managing Ashton Park.

Ms. Stanislowski said, “Glenn and the PPA Real Estate Management team were able to move Tierra
Bella from 60 to 93% occupancy. Those results are pretty impressive. There were improvements in
operations in the first couple months and the performance numbers have going up steadily since.
They know how to get problems resolved and to make sure the property is healthy in every way. It
wasn’t hard to recommend them to Ashton Park and I’ve actually recommended them to other
properties as well.”

Ashton Park Apartments is a 240-unit apartment community built in the 1980s. While there are some
challenges left from the previous property managers, PPA REM is confident it can help turn it
around. “It’s all about the people. It takes a motivated, positive, and caring team in order to make a
difference and have those changes stick. We saw it in Tierra Bella and our other properties and we
can do the same for Ashton Park,” said Glenn C. Gonzales, CPM®, President of PPA REM.

Tierra Bella Apartments is a 205-unit project built in 1985 in Austin, Texas. When PPA REM took
over the property management in 2011, the property was only 60% occupied, delinquencies were
astronomical, the pool wasn’t working and the balconies were falling apart. Crime was an issue, the
city was threatening to turn off the utilities and trash was everywhere. Over the next two years, PPA REM has made such improvements to Tierra Bella that it is now over 93% occupied, delinquencies
are minimal, and the reputation of the property has drastically improved. The net operating income
has doubled and the property is cash flowing and profitable.

Another investor at Tierra Bella Apartments, Larry Fine, can’t say enough about the changes. “I’ve
been involved in a number of commercial real estate investments. Some had good management,
some not so good. But PPA REM has set a new standard that will be difficult to surpass. If I were in
search of management for a Texas property, particularly one that was in trouble, I wouldn’t even
bother looking around; I’d go right to PPA—they’re that good.”

About PPA Real Estate Management, LLC (“PPA REM”)
PPA Real Estate Management, LLC (“PPA REM”) is a privately held full-service property
management company, extending its management expertise into areas of residential multifamily,
affordable housing, in addition to commercial and mixed-use developments.

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