Key Property Services Revenue and Competitors

Key Property Services is a fully integrated and internally managed real estate investment company formed to acquire single-family homes as investment properties for rental and/or sale in the Southeastern United States. The Company’s geographic focus, its superior acquisition, renovation, asset management and sales platform, and its proven management team has enabled it to buy, renovate, lease and sell one of the largest regional portfolios of single-family homes in the United States, at considerable returns. Founded in 2001, Key Property Services has managed and liquidated numerous real estate funds. Key has purchased thousands of properties for its funds or clients, representing several hundred million dollars in value. We have managed more than 3,000 homes simultaneously. Our current focus is on the Southeastern U.S. where attractive long-term housing demographics, job growth, inventory overhang and distressed pricing maximize the SFR risk/return profile. Key is led by an experienced executive management team that collectively has overseen the purchase of over 7,250 homes for their funds or clients. We have more than twelve years of experience buying, renovating, leasing and managing single family homes. We believe this is one of the longest track records of any large-scale operator in the single-family rental sector. The Company has actively recruited senior managers that have founded and/or led other large single family aggregators. Given the scale, local knowledge and operational understanding required to run a successful company in this sector, we believe that our experience and established platform provide us with a meaningful competitive advantage.