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DALLAS, TX. (March 13, 2020) - Olive Tree Property Holdings LLC (“Olive Tree”), a New Yorkbased owner/operator of workforce multifamily communities nationwide, has announced theacquisition of Rosemont at Oak Hollow, a 153-unit affordable rental community located in SouthDallas.This marked Olive Tree’s 24th acquisition since inception and 8th in the state of Texas.Rosemont, built in 2002, is attractively situated in the Cedar Crest area of the South Dallassubmarket. The area is a strong employment center with growth stemming from expansion in thetransportation/logistics, commerce, telecommunication, technology, energy, healthcare/medicalresearch, and banking sectors.“We purchased this asset directly from the owner at a very favorable discount relative toreplacement cost with the intent to continue to operate the property in accordance with the rentaffordability guidelines set forth by the State of Texas. The price gap between in-place rents andthe maximum allowable ceiling is such that we’ll be able to meaningfully grow bottom lineperformance while still being able to offer a very high value proposition for renters earning lessthan 60% of area median income. This asset represents Olive Tree’s continued investment inaffordable housing in the United States, which is significantly under-supplied in all major markets,”said Olive Tree’s Managing Partner, Ian Bel.Olive Tree has made significant investments in its affordable housing platform and in the last 12months have recruited Vice Presidents Brennan Sanders and Nathan Purath, who have over 20years of combined experience in structuring acquisition and rehabilitation financing within layeredtransactions to ensure both adequate construction funding and preservation of affordable rentlevels, including: Tax-Exempt Bonds, 4% LIHTC, state and local affordable housing funding,Section 8, and 202 Contracts, FHA, Freddie Mac and Fannie Mae Debt executions.Ian Bel continued, “Olive Tree’s thesis is rooted on our ability to identify and then successfullyacquire fundamentally sound but underperforming assets located in high growth markets wherewe can then leverage our in-house operating platform to systematically improve operatingperformance and elevate living standards for residents. It’s a formula that has consistentlyproduced above-market returns for our investment partners while creating a higher sense of prideand community for the families living at our properties.”Dallas-Fort Worth is home to over 22 Fortune 500 companies which is the 3rd largestconcentration in the country, trailing only New York City and Chicago. Major institutionalemployers in the area include American Airlines, Bank of America, Texas Health Resource, DallasIndependent School District, Baylor Health Care System, AT&T, Lockheed Martin, and UTSouthwestern Medical Center. The Dallas-Forth Worth metro area gained more new residents in2018 than any other metro area in the nation. The region’s population now tops 7.5 million,solidifying this metro as the nation’s fourth largest, trailing only New York, Los Angeles, andChicago.About Olive TreeFormed in 2017, Olive Tree Property Holdings LLC (“Olive Tree”) is a private real estateinvestment firm focused on the acquisition, reposition, and management of workforce multifamilycommunities in dynamically growing U.S. markets. Olive Tree follows a disciplined, activeownership philosophy where value is created at the property level. With vertically integrated assetmanagement, property management, construction, technology, and marketing services, the OliveTree team devises 360-degree business plans to dramatically increase the value of its investedassets while creating a higher standard of living for its residents. For more information visit:olivetreeholdings.com.