Acquisition & Disposition Pipeline ROI Dashboard

Redstone Real Estate Advisors | Fund IV ($850M Target) | Q4 2024

Pipeline Value
$412M
23 active deals
Capital Deployed
78%
$663M / $850M
UW Variance @ 12mo
12.4%
2023 vintage
Realized IRR
14.2%
+190 bps vs target
Disposition Queue
6 Assets
Avg +180 bps spread

Acquisition Pipeline by Stage & Strategy

Underwriting Variance @ 12-Month Mark

Hold-Period NOI CAGR vs. Business Plan

Disposition Queue — Ranked by IRR Spread to Target

Asset Market Asset Class Hold (mo) Proj. IRR Target IRR Spread (bps) Spread Bar
Phoenix Industrial I Phoenix Industrial 38 16.8% 12.5% +430
Austin Multifamily A Austin Multifamily 42 15.1% 12.5% +260
Denver Retail Plaza Denver Retail 51 14.3% 12.5% +180
Miami Office Tower Miami Office 33 13.9% 12.5% +140
Atlanta Industrial II Atlanta Industrial 29 13.4% 12.5% +90
Charlotte Multifamily B Charlotte Multifamily 47 13.1% 12.5% +60

Entry Basis per SF vs. Submarket Comps

Deal Sourcing Channel Conversion Rate

Broken Deal Rate

Capital Deployed

Geographic Concentration

Phoenix18%
Austin16%
Atlanta14%
Dallas12%
Other40%

Closed Deal Performance — Last 8 Acquisitions

Asset Close Date Strategy Basis/SF UW NOI Actual NOI Variance NOI CAGR
Phoenix Industrial I Jan 2023 Value-Add $142 $1.8M $2.1M +18% +18%
Dallas Office Tower A Feb 2023 Core-Plus $238 $3.2M $2.8M -11% -9%
Austin Multifamily A Apr 2023 Value-Add $184 $2.4M $2.6M +9% +11%
Denver Retail Plaza Jun 2023 Core $196 $1.9M $1.8M -4% +3%
Dallas Office Tower B Aug 2023 Core-Plus $221 $2.7M $2.4M -11% -8%
Miami Office Tower Sep 2023 Value-Add $267 $3.1M $3.0M -3% +5%
Atlanta Industrial II Nov 2023 Core $129 $1.5M $1.6M +7% +8%
Charlotte Multifamily B Dec 2023 Value-Add $172 $2.0M $2.1M +6% +7%
Fund Target IRR: 12.5%
Next IC Meeting: Dec 18, 2024
Avg Time-to-Close: 87 days
Broken Deal Rate: 22%