Hello Friends and Investors,

We hope you and yours are doing well! Meanwhile, the fast and furious year of 2023 continues to roll on, with no sense of slowing down. The volatile news cycle, relatively turbulent economy, a presidential election cycle that's starting to take center stage and continued uncertainty in capital markets are creating some opportunities in our space and presenting a certain level of risk investors need to be aware of and appropriately mitigate. At CF Capital, we continue to plug away at relentlessly addressing current issues and remaining adaptable enough to capture attractive opportunities that are presenting themselves in light of current events. All the while, we continue to invest in our team members and find time to make special memories with our families.

Despite the headwinds in the current market, we are pleased to announce the recent closing of Elevate at Nulu, a 263 Unit Class B Value Add Investment in Louisville, KY in the dynamic submarket of Nulu! We are very appreciative of our partners for their trust and confidence in our team as we embark upon this new venture together. The current market dynamics created conditions for a very attractive investment at a meaningfully discounted price. We were very pleased to secure financing at a fixed rate for 5 years at 6.06% with Fannie Mae, a very attractive rate considering the current interest rate environment. Now the real work starts where we begin to execute the business plan. For investors who would still like to participate in this deal yet weren't able to get in before closing, there are a few remaining slots available for you. Reach out to us to inquire further; note that we would anticipate this door to be closed rather quickly, or within the next couple of weeks.

Aside from our everyday business pursuits, in August, Tyler and his family took a trip to one of their favorite places in the world in Northwest Montana. They checked off a goal off their list of summiting a mountain with the twins (even if it was via gondola ride!). They enjoyed hiking, biking and boating in the great Montana outdoors, and visited beautiful Glacier National Park twice, a place very special to their hearts. Bryan and his family closed out the summer over Labor Day weekend at Douglas Lake, TN having fun on the water boating, fishing, and spending time with extended family members. While the reach and responsibility of CF Capital continues to expand, our founders continue to remain committed to living a life of adventure and fun! We're thankful for our team's support while we recharge and retool from time to time to come back fully rearing with energy and enthusiasm prepared to solve problems and create value for our partners.

Morgan Wimberg recently celebrated her 1 year anniversary working with CF Capital as our Asset Management Associate. We are so proud of Morgan and her continued tenacity to help us optimize all of our investments through the execution of our property business plans and maximize NOI. To celebrate, we threw axes and reflected on all of her accomplishments of the last 12 months. She's just getting started, and we are very appreciative of the excellent work Morgan remains committed to doing on behalf of all of our investors! Our team is growing, and we would invite you to stay tuned as we're going to be announcing two new positions in the near future. A+ players only, of course!

As for what we're seeing in the market in terms of new opportunities, time will tell. Having just closed on the acquisition of Elevate at Nulu, we're focused on beginning the execution of its business plan to create some meaningful momentum in the deal. Our team will be beginning unit and exterior renovations immediately. We continue to renovate units (garnering rent premiums well above initial proformas, all the while) and optimize the financial performance of the rest of our properties as well. As new acquisition opportunities cross our plate, we continue to evaluate and will pursue opportunities that provide an asymmetrical risk/reward ratio, especially while this apparent "window of opportunity" remains where many buyers are inactive, and sellers are willing to sell at a discount.

Here's to wishing you and yours a happy and prosperous beginning to the Fall season! Don't hesitate to reach out to discuss your real estate investment objectives, catch up, or ask any questions.

In Partnership,

Tyler & Bryan

PS. There's no higher compliment than you referring us to your friends, family, and colleagues. We'd be honored by the opportunity to become a part of their trusted networks. Share your experience investing with CF Capital & invite others to become an investor here.