Locuse St- Apartments St -Louis

100 Unit Apartment Building 1528 Locust St Louis $1,200,000Prepared & presented by: significant risks. These risks include, but are not limited to, the following: lack of a public market; arbitrary offering price; limited operating history; reliance on the advisor to select andAmanda Mayan manage assets; payment of substantial fees to our advisor and its affiliates; conflicts of interest facing our officers and directors; lack of diversification; limited liquidity and transferability; andMAN Holdings LLC   distributions may be paid from any source including offering proceeds. Shares of MAN(305)205-0745 Holdings, LLC are not suitable for all investors. Neither the Attorney General of the state [email protected]   New York nor any other state regulators have passed on or endorsed the merits of thishttp://www.man-holdings.com   offering. Any representation to the contrary is unlawful. To read more about the MAN Holdings, LLC risk factors, click here.COPYRIGHT MAN Holdings, LLC© 2014 .This is neither an offer to sell nor a solicitation of an offer to buy MAN Holdings, LLC. Offeringis only made by prospectus. This information must be preceded or accompanied by aprospectus in order to understand fully all of the implications and risks of the offering. Toobtain a copy of the prospectus, click here. Investing in MAN Holdings, LLC includes

Investment SummaryMAN Holdings LLC presents investors with an opportunity to participate in the purchase renovation,stabilization of this uniq property located 1528 Locust St Louis ,within a walking distant to the newly relocatedSaint Louis University Law school , the property is in need of rehab and modernization to make perfect housingfor some of the 1100+ law students moving to downtown St Louis this fall . the property known as LocustApartment. Comprised of 70,000 Sqf , 100 one bedroom Apartment is currently Vacant . The ProjectSponsor, MAN Holdings, LLC, is an experienced residential real estate investment company focused on valueadded properties ,MAN Holdings, LLC focuses exclusively on affordable income rental housing properties. Investment Type Term 24-36 Months Multi-Family Renovation and StabilizationFinancial Overview Purchase Price $1,200,000 Renovation $2,000,000Total cost per Unit Total $32,000 Investment $3,200,000 1 BedRoom Rent $900-1200 2 BedRoom Rent $1100-1800

Investment Highlights The property include the top eight floors of an architecturally recognized 10 story building, with the first 2 floors being owned and operated by the YMCA. The stunning building has the first 2 floors treated in cut stone. Building windows are evenly spaced and alternate with flat arches and pointed arches. A string course is over the ninth floor and the brick on the 10th floor changes to a diamond pattern. Located near the \"loft\" district of downtown St Louis, MO. Walking distance to many downtown attractions such as Washington Avenue Restaurant and Entertainment District, St Louis Public Library, Scottrade Center, Memorial Park, and the soon to open SLU Law school. The investment is a Multi-Family Renovation , stabilize and sale project in Downtown St Louse . The Sponsor has under contract to purchase the property , and plans to renovate and Refinance /sell the property within a 24-36 month time period. The Sponsor is an experienced real estate investment company focused on value-add properties with a strong track record. The primary objective of this investment is -• (1) complete the renovation work upon purchase.• (2) stabilize the property by moving in new tenants to the property.• (3) sell the renovated, stabilized income property.

Rental ComparablesPRICE BED ADDRESS POSTED SOURCE DIS$1240 2 br$1225 1 br 1511 Locust St, Saint Louis, MO 63103 2015-02-16 postlets 0.1$1400 2 br$1280 2 br 1635 Washington Avenue, Saint Louis, MO 63103 2015-02-16 postlets 0.1$1675 2 br$1195 2 br 1627 Locust Street, St. Louis, MO 63103 2015-02-09 century21 0.1 0.2$1600 2 br 0.2$825 2 br 1227 Washington Avenue, St. Louis, MO 63103 2015-02-12 craigslist 0.2$1300 1 br 0.3 1324 Washington Avenue St Louis MO 63103 2015-02-10 craigslist 0.3 721 North 17th Street, Saint Louis, MO 63103 2015-02-09 century21 1132 Washington Avenue, St. Louis, MO 63101 2015-02-16 postlets 1916 Lucas Avenue St Louis MO 63103 2015-02-15 craigslist 0.3 1215 Washington Avenue, Saint Louis, MO 63103 2015-02-10 postletsLocation HighlightsDowntown by the NumbersThe Center of the Metropolitan Statistical Area• Downtown St. Louis is the geographic and economic center of the St. Louis region• 18th largest metro area in the United States (population 2.8 Million)• Investment Downtown since 2000: Over $5 Billion• Daily population of 133,000+ with workers, residents, and visitors. Largest office population in the region with 90,000 employees• Recent developments: Ballpark Village, Mercantile Exchange, Peabody Opera House, St. Louis Public Library redevelopment• In-development: Arcade Building, CityArchRiver, Union Station, 700 Market BuildingOffice• 11 Million square feet of Class A and B office space. Largest inventory of contiguous Class A space in the region, plus new creative spaces in mixed-use renovations of historic buildings• World, national or regional headquarters for Fortune 1000 companies: Ameren, Anthem Blue Cross/Blue Shield, AT&T, Bank of America, Fleishman Hillard, HOK, Ralcorp, Purina, Peabody Energy, Stifel, U.S. Bank and Wells Fargo Advisors Office

Retail & Entertainment•• 150+ new shops, restaurants and services (400,000 square feet) opened since 2003• Home to the Gateway Arch, Ballpark Village, Busch Stadium, City Museum, Edward Jones Dome, Scottrade Center, Union Station, Citygarden and other attractionsResidential• $1.5 Billion spent and 67 new residential properties• 8,000 residents in the Downtown Core• 17,000 residents in Greater Downtown• Continuing to maintain above 90% residential occupancy



Prepared & presented by: fully all of the implications and risks of the offering. To obtain a copy of the prospectus, click here. Investing in Amanda Mayan MAN Holdings, LLC includes significant risks. These MAN Holdings LLC   risks include, but are not limited to, the following: lack of a public market; arbitrary offering price; limited (305)205-0745 operating history; reliance on the advisor to select and [email protected]   manage assets; payment of substantial fees to ourhttp://www.man-holdings.com   advisor and its affiliates; conflicts of interest facing our officers and directors; lack of diversification; limited COPYRIGHT MAN Holdings, LLC© 2014 . liquidity and transferability; and distributions may be paid from any source including offering proceeds. Shares of MAN Holdings, LLC are not suitable for allThis is neither an offer to sell nor a solicitation of an investors. Neither the Attorney General of the state ofoffer to buy MAN Holdings, LLC. Offering is only made New York nor any other state regulators have passedby prospectus. This information must be preceded or on or endorsed the merits of this offering. Anyaccompanied by a prospectus in order to understand representation to the contrary is unlawful. To read more about the MAN Holdings, LLC risk factors, click here.

Property Executive SummaryProperty Information Apartment Building Sources of Funds 1,231,000 34.86% 90 2,300,000 65.14%Type n/a Cash InvestmentNumber of Units First MortgageSquare Footage (8.00% rate, interest only)Annualized 1st Year Income & Expenses Total:Gross Income 1,020,000 3,531,000Vacancy & Credit Allowance 102,000Gross Operating Income 918,000Operating Expenses 347,400Net Operating Income 570,600Assumptions 1.00% Uses of Funds 1,200,000 33.98% 5.00%Safe Rate for MIRR 10.00% Purchase Price, Real Property 200,000 5.66%Reinvestment Rate for MIRR 8.00% 46,000 1.30%Discount Rate for PV Closing Costs 59.05%Capitalization Rate for Resale 20 Points 2,085,000Holding Period (Years) 0 1st Year Capital ImprovementsDepreciable Basis 3,531,000Depreciation Type 39-Year Total:1st Year Marginal Tax Rate 28.00%Cash Flow after Taxes ($) 20-Year Projected Cash Flow After Taxes 2,000,000\" 1,500,000\" 1,000,000\" 500,000\" 0\" 1\" 2\" 3\" 4\" 5\" 6\" 7\" 8\" 9\" 10\" 11\" 12\" 13\" 14\" 15\" 16\" 17\" 18\" 19\" 20\" Year Financial MeasuresCapitalization Rate Year 1 Year 10 Year 20 Gross Income Multiplier Year 1 Year 10 Year 20Debt Coverage Ratio 17.37% 23.67% 33.18% Gross Income/sf 7.24 7.56 7.87Cash on Cash Return 3.10 2.26 3.17 Operating Expense Ratio n/a n/a n/aIRR before Taxes 31.41% 35.23% 60.61% Operating Expenses/sfIRR after Taxes 60.33% 57.49% Projected Selling Price 37.84% 35.08% 32.29%MIRR before Taxes 302.43% 52.19% 48.40% After-Tax Sale Proceeds n/a n/a n/aMIRR after Taxes 217.75% 26.84% 17.50% PV, NOI+ReversionReturn on Equity 302.43% 24.34% 16.09% PV, CFAT+Sale Proceeds 7,384,200 10,056,300 14,068,600 217.75% 4.24% 3.65% 3,605,915 5,580,986 11,044,754 6,761,733 7,611,520 8,122,358 6.69% 3,555,902 4,903,287 5,253,291

Real Estate Business Plan Real Estate Business Plan Property: 1528 Locuse St - St Louis 1528 Loucas st , st louisePrepared For: Prepared For Prepared By: Haim Mayan Date: February 24, 2015

Real Estate Business PlanReal Estate Business Plan Pictures

Real Estate Business Plan Real Estate Business Plan Pro Forma AnalysisProperty Location: 1528 Loucas st , st louiseType of Property: Apartment Building rentable sfDate of this Analysis: February 24, 2015Purpose: The purpose of this analysis is to project and demonstrate the future economic benefits to be derived from this property. For the sake of the analysis, certain assump- tions have been made concerning future revenue, expenses, financing and Federal tax implications related to the ownership and operation of the property. Those assumptions, as well as projections about income or loss, cash flow and profit from resale are presented on the following pages.

Real Estate Business Plan Real Estate Business Plan AssumptionsAcquisition 1,231,000 2,300,000 Sources of Funds Cash Investment First Mortgage Total: $ 3,531,000Uses of Funds 1,200,000 Purchase, Real Estate 0 Purchase, Personal Property Closing Costs 200,000 Points 46,000 1st Year Capital Improvements 2,085,000 Total: $ 3,531,000Analysis 12 2016 Months in First Year of Analysis: 2035 Year this Analysis Begins: Anticipated Year of Resale:Investor Investor 28.00 % Name: Marginal Tax Bracket:Depreciation 39-Year Straight Line $0 Type: Depreciable Basis:

Real Estate Business Plan Real Estate Business Plan Assumptions (cont.)Financing $ 2,300,000 3 year term First Mortgage 8.000 % interest only Second Mortgage 2.00 points 15,333.33 per month Placed 1/2016 Refinanced in January 2017 NoneThird Mortgage NoneRefinance $ 4,000,000 20 year term 6.00 % 1.00 points 28,657.25 per month Placed in January 2017

Real Estate Business Plan Real Estate Business Plan ProjectionsOperating Income and ExpensesIncome Gross Vacancy/Credit Net Operating Taxable Income Allowance Income Income 2016 2017 1,020,000 102,000 570,600 289,366 2018 1,050,600 105,060 590,733 298,176 2019 325,560 2020 1,082,118 108,212 611,530 354,036 2021 1,114,582 111,458 633,013 383,650 2022 1,148,019 114,802 655,203 414,452 2023 446,493 2024 1,182,460 118,246 678,122 479,827 2025 1,217,933 121,793 701,795 514,510 2026 1,254,471 125,447 726,244 550,601 2027 1,292,105 129,211 751,495 588,163 2028 1,330,869 133,087 777,572 627,261 2029 1,370,795 137,079 804,503 667,963 2030 1,411,919 141,192 832,313 710,341 2031 1,454,276 145,428 861,031 754,469 2032 1,497,904 149,790 890,686 800,428 2033 1,542,842 154,284 921,307 848,299 2034 1,589,127 158,913 952,924 898,169 2035 950,130 1,636,801 163,680 985,569 1,004,278 1,685,905 168,590 1,019,276 1,736,482 173,648 1,054,076 1,788,576 178,858 1,090,004

Real Estate Business Plan Real Estate Business Plan Projections (cont.)Operating Income and Expenses (cont.)Operating Expenses and Debt Service Operating Total Debt Expenses Service2016 347,400 184,0002017 354,807 343,887 343,8872018 362,376 343,8872019 370,110 343,8872020 378,014 343,887 343,8872021 386,091 343,8872022 394,345 343,8872023 402,780 343,8872024 411,400 343,8872025 420,210 343,8872026 429,213 343,8872027 438,414 343,8872028 447,817 343,8872029 457,428 343,8872030 467,251 343,8872031 477,290 343,887 343,8872032 487,551 343,8872033 498,0392034 508,7582035 519,715

Real Estate Business Plan Real Estate Business Plan Projections (cont.)Cash FlowsCash Flows Before After Using After Taxes Cumulative Taxes Reserves and Reserves Cash Flow 2016 2017 386,600 386,600 305,577 305,577 2018 1,906,846 1,906,846 1,823,357 2,128,934 2019 2020 267,643 267,643 176,486 2,305,420 2021 289,126 289,126 189,996 2,495,416 2022 311,316 311,316 203,894 2,699,310 2023 2024 334,236 334,236 218,189 2,917,499 2025 357,908 357,908 232,890 3,150,389 2026 382,357 382,357 248,006 3,398,395 2027 407,608 407,608 263,545 3,661,940 2028 433,685 433,685 279,517 3,941,457 2029 460,616 460,616 295,930 4,237,387 2030 488,426 488,426 312,793 4,550,180 2031 517,144 517,144 330,114 4,880,294 2032 546,799 546,799 347,903 5,228,198 2033 577,420 577,420 366,168 5,594,366 2034 609,037 609,037 384,917 5,979,283 2035 641,683 641,683 404,159 6,383,442 675,389 675,389 423,901 6,807,344 710,189 710,189 444,152 7,251,496 746,117 746,117 464,919 7,716,415

Real Estate Business Plan Real Estate Business Plan Projections (cont.)Improvements and Reserves2016 Planned Planned2017 Capital Funded Improvements Reserves20182019 2,085,000 02020 0 0 0 02021 0 02022 0 02023 0 02024 0 02025 0 02026 0 02027 0 02028 0 02029 0 02030 0 02031 0 0 0 02032 0 02033 0 02034 0 02035 0 0 0 0

Real Estate Business Plan Real Estate Business Plan Resale and Rates of ReturnResale at End of 2035 Projected Selling Price: $ 14,068,600 (based on 8.00% capitalization rate) Cost of Sale: $ 984,802 Gain (Loss) on Sale: $ 10,663,574 Federal Tax on Sale: Before-Tax Sale Proceeds: $ 1,706,077 After-Tax Sale Proceeds: $ 12,750,832 $ 11,044,754Measures of Investment Quality 57.49% 48.40% IRR, Before-Tax: 17.50% IRR, After-Tax: 16.09% MIRR, Before-Tax: $ 8,122,358 MIRR, After Tax: PV, at 10.00% Debt Cap. Gross Cash on Operating Gross Operating Coverage Rate Income Cash Expense Income, Expenses, Multiplier Return Ratio Ratio $/sf $/sf2016 3.10 17.37% 7.24 31.41% 37.84% n/a n/a2017 1.72 17.98% 7.28 154.90% 37.52% n/a n/a2018 1.78 18.62% 7.31 37.21% n/a n/a2019 1.84 19.27% 7.35 21.74% 36.90% n/a n/a2020 1.91 19.95% 7.38 23.49% 36.59% n/a n/a2021 1.97 20.64% 7.42 25.29% 36.28% n/a n/a2022 2.04 21.36% 7.45 27.15% 35.98% n/a n/a 29.07%2023 2.11 22.11% 7.49 35.68% n/a n/a2024 2.19 22.88% 7.52 31.06% 35.38% n/a n/a2025 2.26 23.67% 7.56 33.11% 35.08% n/a n/a2026 2.34 24.49% 7.59 35.23% 34.79% n/a n/a2027 2.42 25.34% 7.62 37.42% 34.50% n/a n/a2028 2.50 26.21% 7.66 39.68% 34.21% n/a n/a 42.01%2029 2.59 27.11% 7.69 33.93% n/a n/a2030 2.68 28.05% 7.72 44.42% 33.65% n/a n/a2031 2.77 29.01% 7.75 46.91% 33.37% n/a n/a2032 2.87 30.00% 7.78 49.47% 33.10% n/a n/a2033 2.96 31.03% 7.82 52.13% 32.82% n/a n/a2034 3.07 32.09% 7.85 54.87% 32.55% n/a n/a2035 3.17 33.18% 7.87 57.69% 32.29% n/a n/a 60.61%

Real Estate Business Plan Real Estate Business Plan Pro Forma OverviewYear Initial Taxable Cash Flow Taxable Proceeds Cash Gain of Sale 2016 Invested Income Before 2017 1,231,000 or (Loss) Taxes On Sale Before Tax 2018 2019 1,231,000 289,366 386,600 10,661,574 12,750,832 2020 10,661,574 12,750,832 2021 298,176 1,906,846 2022 325,560 267,643 2023 354,036 289,126 2024 383,650 311,316 2025 2026 414,452 334,236 2027 446,493 357,908 2028 479,827 382,357 2029 2030 514,510 407,608 2031 550,601 433,685 2032 588,163 460,616 2033 627,261 488,426 2034 667,963 517,144 2035 710,341 546,799Totals: 754,469 577,420 800,428 609,037 848,299 641,683 898,169 675,389 950,130 710,189 1,004,278 746,117 11,906,174 11,050,144

Real Estate Business Plan Real Estate Business Plan DisclaimersThe information and calculations presented in this analysis are believed to be accurate,but are not guaranteed. They are intended for the purposes of pro forma projection andanalysis, and should not be used for preparation of income tax returns. You are advisedthat any Federal tax calculations displayed in these reports are necessarily estimatesonly. They are based upon interpretations of various tax acts and revisions since 1986,and are subject to further clarifications, interpretations, rulings, regulations, andtechnical corrections. These tax calculations are also based upon certain assumptions,as entered into the software by the user, about the property and about the taxpayer’sadjusted gross income, tax brackets and like matters. The actual tax liability that thisproperty may create may be altered substantially from the estimates displayed herein byother factors, which are outside the scope of this analysis and external to this property,and which may also differ from taxpayer to taxpayer. Such factors may include but are notlimited to the Alternative Minimum Tax and investment interest limitations. In particular,for the years 2013 and following, the actual tax liability is likely to be affected byitems such as: the taxpayer’s total taxable income; the taxpayer’s net investment incomefrom all sources, including those external to the property analyzed here; and the extentto which those items exceed certain thresholds, which are themselves subject to change.The user of this program and recipients of its reports should consult a tax specialistconcerning his/her particular circumstances before making any investment decision.*Note especially that a taxpayer’s ability to use losses generated by this investment to offsetincome generated by this investment is likely to be affected by the taxpayer’s particularcircumstances, including Adjusted Gross Income, and passive and investment income or lossesfrom other activities. Consult your tax advisor regarding these issues.