AGM Real Estate Group — Proposal for Management Services

Established in 1998, AGM Real Estate Group has grown into a full-service real estate firm providing institutional-grade management, investment, and development services across the Pacific Northwest.

Assets Under Management $1B portfolio value

Properties Managed 200+ across the region

Founded 1998 Pacific Northwest

Service Lines Asset Management · Property Management · Syndication · Investment · Construction

History

|Key Milestones

Featured Assets Under Management

|Diversified Portfolio

Bellevue, WA

Fremont, WA

Queen Anne, Seattle WA

Marysville, WA

Juneau, AK

Regional Footprint Strong presence across the Greater Seattle area — managed properties spanning Seattle, Bellevue, Kirkland, Redmond, and the broader Puget Sound, with additional assets in Oregon and Alaska. Deep local market knowledge supports our ability to anticipate market shifts, protect asset value, and drive consistent performance.

Management Team

|Roles & Responsibilities

Property Manager

Oversight of investment performance and day-to-day operations

Property Operations Associate

Day-to-day coordination and tenant relations

Financial Analyst

Budget development, forecasting, and ongoing financial performance analysis

Property Accountant

Property-level accounting and financial reporting

Leasing Associate

Manages leasing strategy, prospect conversion, marketing campaigns, and tenant retention

Marketing Associate

Digital presence and tenant engagement (as applicable)

Project Manager · Construction

Leads capital projects with a focus on cost control, quality execution, and long-term asset performance

Maintenance Technician

Preventive maintenance and emergency response

Each engagement begins with a defined investment strategy and clearly articulated performance objectives, which directly drive the operating plan and long-term capital strategy.

Objectives

Investment Objective

Understand Ownership’s investment goals, target returns, and overall strategy to align operating decisions with the broader investment plan

Investment GoalsTarget ReturnsHold PeriodRisk Profile

Proforma

Proforma Generation

Generate proforma and develop operating strategy aligned with the investment objectives, providing a working financial framework for performance tracking

Revenue ProjectionsOperating AssumptionsCapital ForecastReturn Modeling

Distributions

Distribution Structure

Establish a distribution schedule aligned with the investment proforma and overall return objectives, supporting predictable cash flow to Ownership

Distribution ScheduleReserve AlignmentCash Flow Coordination

Budget

Operating Budget

Align the operating budget with performance targets and capital preservation priorities, ensuring day-to-day decisions support long-term return objectives

Performance TargetsCapital PreservationExpense DisciplineForecast Accuracy

          Strategic Alignment
          Investment objectives, proforma, distributions, and operating budget integrated into a single execution plan
        

AGM’s Construction & Facilities team protects asset value through proactive maintenance, vendor oversight, and capital planning — preserving asset condition, reducing deferred costs, controlling capital spending, and aligning long-term investment with the operating budget and ownership strategy.

Ongoing

Repairs & Maintenance

Coordination of routine maintenance and repairs with budget-aligned execution, owner approval for overages, and preventive scheduling to minimize emergency repairs and unplanned expenses

Maintenance CoordinationService RequestPreventative PlanningMaintenance Records

Inspection

Inspections & Documentation

Regular property inspections, documentation, and systems review to identify maintenance needs and support preventative planning

Monthly InspectionsPhotographic RecordsSystems VerificationWork Order Recommendations

Performed by: AGM Building Engineer

Response

24/7 Emergency Response

After-hours emergencies routed to an on-call facilities representative for immediate assessment, vendor dispatch, and property manager notification under authorized protocols

On-Call Facilities RepresentativeImmediate AssessmentVendor DispatchAuthorization ProtocolsOwner Call Tree

Authorization: Aligned with management agreement scope · Owner call tree for major incidents

Capital

Capital Project Planning

Multi-year capital forecasting aligned with ownership strategy and CapEx prioritization based on risk, ROI, and operational impact, paired with bid procurement, vendor compliance review, and performance oversight from bid through scope verification at completion

Multi-Year ForecastingUseful Life AnalysisCapEx PrioritizationBid Package Preparation

          Asset Protection
          Proactive maintenance and capital planning aligned with ownership strategy to preserve asset condition and long-term value
        

AGM’s platform provides complete financial transparency, with detailed reporting delivered by the 15th of each month, customizable reporting options, and real-time access through the owner portal.

Reporting

Monthly Reports

Comprehensive monthly financial package providing full visibility into property performance, cash position, and operating results

Balance SheetIncome StatementRent Roll & Lease ExpirationsA/R & A/PBudget vs. ActualBank ReconciliationPaid Invoices

Customization: AGM’s platform allows for full customization of all financial reporting to align with Ownership preferences

Budgeting

Annual Budget & Tenant Charges

Annual operating budget development paired with disciplined administration of tenant-side charges, reconciliations, and lease compliance

Operating BudgetScheduled ExpendituresNNN AllocationAnnual CAM ReconciliationCredits & Charges

Lease alignment: Credits and charges issued in accordance with the lease agreement and CAM reconciliation

Performance

Investment Performance

Active monitoring of property performance against the proforma, with forward-looking projections and variance analysis to keep results on plan

Proforma GenerationPerformance vs. ProjectionsReturn TrackingForecastingVariance Analysis

Controls

Banking & Financial Controls

Financial control procedures designed to protect Ownership funds and promote transparency through segregated accounts, internal controls, and secure systems

Segregated Bank AccountsSeparation of DutiesOwner Approval ProtocolsMonthly Reconciliations

          Investment Reporting
          Comprehensive monthly reporting on investment performance, financial position, and operating activity, delivered to Ownership via Owner Portal by the 15th of each month
        

AGM can assist Ownership in evaluating property insurance solutions, including participation in AGM’s Master Insurance Program — a grouped placement structure designed to deliver more efficient coverage and meaningful cost savings relative to standalone policies.

Evaluation

Insurance Solutions Evaluation

AGM assists Ownership in evaluating property insurance solutions, including participation in AGM’s Master Insurance Program.

Coverage ReviewRisk Profile AssessmentProgram Alternatives

Structure

Grouped Placement

The program enables eligible assets within the AGM-managed portfolio to be considered for placement within a grouped insurance structure, rather than being separately marketed on a standalone basis

Portfolio-Level PlacementEligible Asset ReviewCarrier Coordination

Efficiency

Coverage & Cost Efficiency

AGM’s Master Insurance Program can support more efficient coverage placement and, in many cases, economies of scale relative to individually placed policies, resulting in meaningful cost savings for the investment

Economies of ScaleEfficient PlacementCost Savings

Conditions

Program Conditions

Availability, pricing, and coverage terms are subject to underwriting review, property eligibility, and carrier approval

Underwriting ReviewProperty EligibilityCarrier Approval

          Key Benefit
          Shared master insurance policy for eligible properties provides broader coverage capacity and competitive premiums through portfolio scale
        

AGM’s leasing platform is structured to maximize revenue, support occupancy stability, minimize vacancy loss, and enhance leasing performance through disciplined execution — spanning the full leasing cycle from prospect to resident renewal.

Market Positioning & Research

|Data-Driven Pricing

AGM’s research team tracks concessions across comparable properties to keep subject assets competitive with shifting market conditions. The team analyzes rent roll, vacancies, lease expirations, unit finishes, amenities, location, and other asset-specific factors to right-size rental rates — feeding directly into a renewal strategy centered on tenant retention.

01

Attract

Market Positioning & Pricing

02

Convert

Prospect Conversion & Leasing

03

Sustain

Occupancy & Performance

Ongoing review of concessions, comps, and submarket conditions to inform pricing and leasing strategy aligned with unit demand and vacancy exposure

Concession TrackingMarket & Comp ReviewPricing StrategyLoss-to-Lease ReductionDemographic AnalysisTenant Referral Program

Automated workflow for inquiry response, tour coordination, and follow-up, paired with proactive prospect communication from first inquiry through move-in

Automated Inquiry WorkflowIn-Person & Virtual ToursApplication & ScreeningDigital Lease ExecutionCompliance File Retention

In-house coordination on notices to vacate, make-ready scheduling, and unit readiness to minimize downtime, paired with proactive relisting and lead source tracking

Make-Ready CoordinationProactive RelistingLead Source TrackingLeasing ReportsVelocity vs. Budget

Renewal Strategy & Tenant Retention

|Self-Reinforcing Cycle

Renewals are structured around tenant retention, with an option to upgrade existing tenants into newly renovated units. This enables stagnant units to be turned over and brought up to AGM’s Standard Unit Turn while fresh tenants move into refreshed spaces — a self-reinforcing cycle of reinvestment, improved unit quality, and sustained community value.

Retention

Tenant Upgrade Path

Offer existing tenants the opportunity to move into newly renovated units, preserving good tenancy while freeing up units for improvement

Capital Cycle

AGM Standard Unit Turn

Vacated units are refreshed to AGM Standard, attracting new tenants at market rates and improving overall property quality over time

AGM is experienced in navigating both the Multifamily Tax Exemption (MFTE) and Mandatory Housing Affordability (MHA) programs, advising Ownership on eligibility, implementation, and the strategic value of participation.

MFTE

Multifamily Tax Exemption

A Washington State program providing a property tax exemption on the residential improvements of a multifamily development in exchange for reserving a portion of units at affordable rent levels. Qualified properties receive a meaningful reduction in annual property tax liability for a term of 8 or 12 years, varying by jurisdiction.

Washington State Program8 or 12-Year TermAffordable Unit Set-AsideReduced Tax Liability

MHA

Mandatory Housing Affordability

A City of Seattle program requiring new development in certain zones to include affordable units on-site (the performance option) or contribute to the city’s affordable housing fund (the payment option). Compliance unlocks density bonuses and development flexibility in qualifying zones.

City of SeattlePerformance OptionPayment OptionDensity Bonus Access

Applicability

Where & When the Programs Apply

MFTE is available in participating cities across Washington — including Seattle, Bellevue, Kirkland, Redmond, and Renton — with terms varying by jurisdiction. MHA applies within designated zones in the City of Seattle. Both are typically implemented at the time of new development or substantial rehabilitation.

SeattleBellevueKirklandRedmondRenton

Implementation

Application & Ongoing Compliance

Implementation includes confirming eligibility, filing the MFTE application, designating affordable units, executing a restrictive covenant with the city, and managing annual compliance — income certifications and ongoing reporting — alongside standard property operations.

Eligibility ReviewMFTE ApplicationRestrictive CovenantAnnual Compliance

          Strategic Value
          Property tax savings, compliance efficiency, and development flexibility — managed within standard property operations
        

Many properties in AGM’s portfolio carry both residential and commercial components — apartments above retail, restaurant, or office space. Managing these assets effectively requires expertise across both asset classes. For commercial vacancies, AGM applies a market-driven outreach strategy designed to attract tenants who complement the residential community, serve an unmet local need, and are positioned for long-term stability.

Analysis

Market Analysis

Analyze the surrounding neighborhood to identify gaps — what types of businesses, services, or amenities are missing or underserved in the area — informing the commercial leasing strategy for the asset.

Neighborhood Gap AnalysisDemand MappingSubmarket Review

Profile

Tenant Profiling

Develop a target tenant profile based on space specifications, neighborhood demographics, foot traffic patterns, and Ownership objectives to focus outreach on the right operators for the space.

Space SpecificationsDemographicsFoot TrafficOwnership Objectives

Outreach

Targeted Outreach Program

Execute a targeted outreach program to bring qualified commercial tenants to the table — through direct outreach, broker relationships, and listing syndication across commercial platforms.

Direct OutreachBroker NetworkCommercial Listing Syndication

Execution

Lease Execution & Management

Negotiate and execute commercial leases, and manage the ongoing landlord-tenant relationship — including CAM reconciliation, lease compliance, and renewal planning.

Lease NegotiationCAM ReconciliationLease ComplianceRenewal Planning

          Track Record
          Hands-on experience managing mixed-use assets with active commercial components — featured properties and case studies available upon request
        

Market Positioning

|[ Property Name ]

Methodology: [ Comp set scope — number of properties, asset classes, search radius, and the metrics benchmarked (rent, PSF, leased exposure, amenities). ]
Current Gap: [ How in-place rents compare to peer averages, and the per-unit monthly gap to market identified in unit-level review. ]
Upside: [ The unit segment with the greatest upside and the loss-to-lease opportunity as leases roll. ]
Competitive Market: [ Location advantage, nearest competing properties and their rents, and the resulting positioning edge. ]
Financial Outcome: [ Projected annual income gain and value created under conservative vs. aggressive scenarios at the target cap rate. ]

Rent Analysis

|[ Property Name ] · Unit Mix & Market Positioning

					Current Rent		Market Rent
Type	%	Units	Avg SF	Total SF	Avg	$/SF	Avg	$/SF
Studio	X%	X	X	X	$X	$X	$X	$X
Studio Large	X%	X	X	X	$X	$X	$X	$X
1×1	X%	X	X	X	$X	$X	$X	$X
Total / Average	X%	X	X	X	$X	$X	$X	$X

AGM develops and manages the property’s full digital presence — from its branded website and listing strategy to the marketing channels that expand exposure, generate qualified leads, and support leasing performance.

Foundation

Owned Digital Infrastructure

Branded property website that establishes the asset’s online presence and serves as the central destination for marketing traffic, supported by leasing, resident, and investor portals

Branded WebsiteLeasing Listing PagesResident PortalInvestor PortalSEO & Site MaintenanceGoogle Business Profile

Reach

Paid & Syndicated Channels

Targeted advertising across search and listing platforms, scaled to vacancy and submarket competition, with full campaign management and ROI analysis to validate spend

Google Ads · Search/Maps/DisplayZillow & Apartments.comFull SyndicationCampaign ManagementCross-Portfolio MarketingCPL & CPLease Analysis

Presentation

Media & Property Identity

Professional media production and on-site presentation that elevates prospect engagement and ensures real-time, accurate listings across every channel

Matterport 3D ToursFloor PlansPhotography & VideographyVirtual StagingOn-Site SignageReal-Time Listings

Reputation

Google Business Profile & Reviews

Active management of the property’s Google Business Profile and review activity. Positive reviews signal professional management — leasing execution, responsive maintenance, and strong retention — and remain the most authentic way tenants communicate with prospective residents

Profile ManagementVerified ListingReview ActivityReputation MonitoringOrganic Visibility

          Exposure Outcome
          A coordinated digital presence that expands reach, generates qualified leads, and supports leasing performance
        

The AGM platform delivers Ownership and residents secure, 24/7 access to property information, real-time financial reporting, payment history, work orders, and integrated communication tools.

01 OwnerOwner Portal +

Real-time property dashboard with live financial and operational reporting, secure banking for distributions and contributions, and investment-level performance metrics

Real-Time DashboardLive Financial & Ops ReportsFinancial Reports & DocumentsSecure Banking InformationInvestment Performance MetricsMulti-Property View

02 TenantTenant Portal +

Self-service resident platform supporting online payments, account visibility, document access, and work order tracking through a single secure interface

Online Rent PaymentAccount Balance & ChargesTenant Documents & LeasesEmail & Text CorrespondenceWork Order TrackingTenant Insurance Submission

03 WebsiteProperty Website +

Public-facing website that supports leasing efforts, showcases the property, and serves as the central access point for the tenant and owner portals

Professional Online PresenceAmenities & Available UnitsContact InformationPublic-Facing ShowcasePortal Access Point

          Platform Access
          Secure, 24/7 access to property information, real-time reporting, and integrated communication tools
        

Base Management Fee

Monthly Fees

Day-to-day operations, including accounting, financial management, maintenance coordination, and ongoing reporting.

*Of gross revenues

X%^*

Minimum of $X Per Month

Onboarding Fee · One-Time

Transition & Setup

Reflects the actual administrative, financial, and operational work required to assume management of the property, including website development.

$X

One-Time

Project Coordination

Capital Projects

Capital projects, tenant improvements, renovation, or other work beyond routine repair and maintenance, including bid preparation, contractor selection, and course-of-performance oversight.

Hourly Rate /
% of Project Cost

Fee Approved Prior To Project Commencement

A transparent fee framework covering ongoing management, stabilization-period support, technology, and specialized roles — paired with a performance-based incentive structure tied to measurable outcomes.

Management Fees

|Core Engagement

Monthly Fee

Management Fee

X%of gross revenue

$X minimum per month

One-Time

Onboarding & Website Setup

TBD

Amount confirmed prior to proposal; website build follows standardized timeline

Pre-Stabilization

On-Site Agent

Separate Ancillary Fee

Billed separately until occupancy threshold is reached; transitions to standard terms at stabilization. Threshold and rate set at engagement.

Monthly

Technology Fee

$X/ month

Website hosting, software updates, platform maintenance — charged as a property operating expense

Per Project

Specialized Role Fees

Tailored per project

On-site leasing associate, project manager, marketing associate, and maintenance technician — priced per property needs and scope, determined during the proposal process

Leasing Fees

|Per Lease

New Lease

X Month’s Rent

$X minimum

Renewal

X% of Month’s Rent

$X minimum

Performance Incentive Structure

|Quarterly · Tied to Measurable Outcomes

A performance-based incentive structure tied to measurable outcomes, reviewed at quarterly checkpoints. Milestones may include:

Retention

Tenant Retention Benchmarks

Retention thresholds above baseline — reflecting AGM’s leasing execution, tenant satisfaction, and community management quality.

Reputation

Google & Review Platform Benchmarks

Review count or rating milestones on Google and other platforms — reflecting the property’s reputation as professionally managed and desirable to live in.