July 22, 2020

Dear Investors:

We are pleased to announce that the Haven of Athens will have a ribbon-cutting ceremony on August 6th, 2020, to celebrate the official opening of the property.

A couple of months back the University of George announced that the Fall semester 2020, would begin with in-person classes. As of this announcement, these plans have not changed, but might, subject to any changes in the COVID-19 situation in the state.

To ensure the safety and well-being of their students, the University of Georgia will require all students to wear masks while on campus, as well as current plans to switch to online classes after Thanksgiving break.

We are carefully tracking the infection rate of COVID-19 in Georgia and other states, paying particular attention to any emerging trends in University schedule adjustments or closures.

At present we would rate the level of uncertainty as “High” and we are aware that any sudden changes in the policies of the University of George, the city of Athens, or the state of Georgia could impact future leasing at the Haven.

However, recent experiences of students maintaining their off-campus housing, even during the Spring outbreak of COVID-19, points towards the continued success of the Haven of Athens.

We will work hard to keep you abreast of any changes and developments as they unfold. And as always, if you have any questions, please feel free to contact us.