Mill Creek in 10 Q2 2015

PEOPLE. RELATIONSHIPS.PLACES.

Mill Creek in 10.A Company Overview for New Mill Creek

Associates.

Welcome to Mill Creek! We’re glad you’re here.

There’s a lot to take in when you’re new, like:

We understand.

Where to find pensYour email passwordThe best lunch spot

How to work the coffee machine The ins and outs of Mill Creek

And we’re here to help. (Especially with the last one.)

Give us 10 minutes. We’ll teach you 10 things that are

good to know about Mill Creek.

Mill Creek in 10.

I N T R O D U C I N G

You’re about to get Mill Creek smart. Ready?

Trilogy NoMaWASHINGTON, DC І DEVELOPMENT І 603 HOMES

Let’s start at the beginning: our mission

& values.

Mill Creek Residential develops, acquires and operates high-quality apartment communities in desirable locations coast-to-coast.

While we are a national company, we immerse ourselves in our chosen markets – living and working in the communities where we operate.

We combine our deep understanding of each market with 30+ years of expertise and a fresh innovative approach to the apartment industry, to build relationships and places in which people thrive – creating real and enduring value for our residents, investors and associates.

Welcome to Mill Creek!

Mill Creek’s mission and values unify our teams and guide our actions to do the right thing for our associates, residents and stakeholders.

Our company tagline – People. Places. Relationships. – serves as a reminder of this intent. The places and relationships we build with each other, our customers and our stakeholders in turn builds the Mill Creek culture.

It’s what makes us different from other apartment companies. Take a look….

OUR MISSIONEnhance lives by creating great living environments.

VALUE #1: UNCOMPROMISING INTEGRITYPeople do business with people they trust. We treat all our stakeholders – residents, associates, investors, local constituents and vendors – fairly and honestly. We take our commitments seriously, and do the right thing. Because without trust, nothing else matters.

VALUE #2: WORK HARD, SMART & TOGETHERWe know Mill Creek is stronger when we work together to achieve a common goal. Like an athletic team at the top of their game, we're strategic, fluid, beautifully synchronized, and driven to achieve the best of our collective potential.

VALUE #3: LIVE BALANCED LIVESMill Creek embraces a work hard / play hard culture. We believe that it’s important to enjoy our lives at work - and also at home

and leisure. We strive to deliver a supportive, flexible work environment while providing benefits and services that help

to create peace of mind for Mill Creekassociates in their lives outside of work.

VALUE #4: CELEBRATE SUCCESSESWe strive to provide our teams with the tools and resources they need to succeed and achieve their highest potential. We recognize effort, reward results, and celebrate successes.

VALUE #5: CONTINUOUS IMPROVEMENTWe believe in challenging the status quo and that the challenge should be fun and inspiring. Through innovation and iteration, we set aggressive standards that stretch and encourage us as leaders in the apartment industry.

VALUE #6: BE THE BEST, THE REST WILL FOLLOWAt Mill Creek, "great" is our starting point. Wonderful and

creative things happen when we work hard, smart, and together to be better tomorrow than we are today.

This is right about the time our associates start to feel really

really excited. But wait. There’s more!

Avenir PlaceMERRIFIELD, VIRGINIA І DEVELOPMENT І 628 HOMES

There’s a good story behind the Mill Creek

name.

This is Trammell Crow. A real estate visionary.

Many of us are inspired by the vision of real estate pioneer Trammell Crow. “Mill Creek” was the name of Mr. Crow’s Texas retreat and tree farm which he said was his favorite place in the world.

In 2010, a team of former Trammell Crow Residential executives created Mill Creek Residential Trust - a fresh new company with a long and rich history.

We decided to name our company Mill Creek as an homage to Mr. Crow, who in his own way inspired this whole enterprise.

Modera Coral GablesMIAMI, FLORIDA І DEVELOPMENT І 237 HOMES

We develop, build, acquire & manage apartment

homes.

We develop luxuryapartment communities coast to coast.

Modera MineolaLONG ISLAND, NY І DEVELOPMENT І 275 HOMES

OUR DEVELOPMENT TEAMS ARE LOCAL EXPERTS WHO SOURCE THE LAND AND RESOURCES TO BUILD LUXURY APARTMENT COMMUNITIES FROM THE GROUND UP IN THE NATION’S BEST APARTMENT MARKETS.

We build our own

communities.

The GantrySAN FRANCISCO, CALIFORNIA І DEVELOPMENT І 105 HOMES

OUR CONSTRUCTION TEAMS WORK CLOSELY WITH OUR DEVELOPMENT TEAMS & OVERSEE THE ENTIRE CONSTRUCTION PROCESS FROM PLANNING TO MOVE-INS.

Together, our development & construction teams have built a formidable portfolio of nearly 15,000 homes since 2011.Modera at LagunaLAGUNA NIGUEL, CALIFORNIA І DEVELOPMENT І 284 HOMES

Q

Port Royale ApartmentsFT. LAUDERDALE І ACQUISITION I 555 HOMES

We acquire value-priced communities.WE EMPLOY A “BUY WHERE WE BUILD” STRATEGY TO ACQUIRE COMMUNITIES IN MARKETS WHERE WE DEVELOP. THEN, WE UPGRADE FINISHES AND AMENITIES TO MAXIMIZE VALUE.

We manage our communities

OUR TEAM OF LIKABLE EXPERTS ARE POISED TO HELP OUR CUSTOMERS GET THE APARTMENT THEY WANT AND ENSURE THEY STAY HAPPY.

Nice commitment!

Modera GlendaleGLENDALE, CALIFORNIA І DEVELOPMENT І 235 HOMES

We’re on the national scene – and growing.

YEAR FOUNDED

2010

TOTAL # OF COMMUNITIES (OPERATING, IN DEVELOPMENT 2015/IN PLANNING thru 2017)

45/82

77DEVELOPMENT COMMUNITIES (CURRENT & PROJECTED)

TOTAL # OF APARTMENT HOMES (OPERATING, IN DEVELOPMENT & IN

PLANNING THRU 2017) *14K THRU 2015

24,0005

ACQUSITION COMMUNITIES

(CURRENT)

MILL CREEK REGIONS

8MILL CREEK

CHOSEN MARKETS

14

TOTAL MARKET CAP

$6.6 B

# OF ASSOCIATES 2015

500

Mill Creek by the numbers

Modera at MosaicFAIRFAX COUNTY, VIRGINIA І DEVELOPMENT І 266 HOMES

RANKING ON MFE’S TOP 25 BUILDERS LIST FOR 2015

#2

Rock on, Mill Creek. Rock on!

The DouglasDENVER, COLORADO І DEVELOPMENT І 310 HOMES

Our chosen markets

Mill Creek has a presence in 14 marketsCOMMUNITIES OPERATING, IN DEVELOPMENT & IN PLANNING

SEATTLE

PORTLAND

PACIFIC NORTHWEST2,519 HOMES (9%)

DENVER

MOUNTAIN STATES1,645 HOMES (6%)

SOUTHERN CALIFORNIA1,498 HOMES (5%)

SAN FRANCISCO BAY AREA

ORANGE COUNTY

NORTHERNCALIFORNIA1,219 HOMES (4%)

SOUTHEAST7,589 HOMES (26%)

ATLANTA

TAMPA / ST. PETE SOUTH

FLORIDA/ MIAMI

MID-ATLANTIC4,853 HOMES (17%)

GREATER WASHINGTON DC METRO AREA

NORTHEAST4,943 HOMES (17%)

BOSTON

NEW YORK

NEW JERSEY

TEXAS4,412 HOMES (16%)

DALLAS

AUSTINHOUSTON

This national presence is brought to you by our local

experts.

The Casey 2100 DelganyDENVER I DEVELOPMENT I 187 HOMES

Our portfolio spans all asset types.

Modera Jefferson StreetPORTLAND І DEVELOPMENT І 134 HOMES

PodiumMID-RISE OVER PARKING

Modera Spring Town CenterHOUSTON І DEVELOPMENT І 396 HOMES

Garden-style & townhomes

Arpeggio at Victory ParkDALLAS І MERCHANT DEVELOPMENT І 377 HOMES

Wrap AKA THE TEXAS DONUT; HOMES “WRAP” AROUND GARAGE PARKING

Modera Prime 235ST. PETERSBURG, FLORIDA I DEVELOPMENT I 309 HOMES

Concrete mid-riseCOMMUNITIES UP TO SEVEN STORIES

Modera Morningside ATLANTA I DEVELOPMENT I 300 HOMES

Mixed-use with retailAPARTMENTS OVER LARGE-SCALE RETAIL – LIKE GROCERY STORES – OVER PODIUM PARKING

Skye at BelltownSEATTLE I ACQUUISITION I 360 HOMES

High-riseCOMMUNITIES EIGHT STORIES & HIGHER

We have just one word: Wow!

Modera DadelandMIAMI І DEVELOPMENT І 350 HOMES

We’re building a national brand: Modera® by Mill

Creek.

As we assume our place among the best apartment companies in the country, we will advance Mill Creek’s reputation as a leader in luxury apartment living through a national branding strategy.

Modera TempoALEXANDRIA, VIRGINIA І DEVELOPMENT І 492 HOMES

FOR OUR CUSTOMERS:• Brands simplify the decision-

making process• Customers will pay a premium

for differentiated brands• Improved customer loyalty &

retention• Reduced customer acquisition

costs

Why build a national Modera brand?

FOR OUR ASSOCIATES:• Optimize time and resources• Simplify the marketing

onboarding process• Attract and retain the best

people• Improved engagement,

morale and pride

FOR OUR INVESTORS:• If we implement and support

the brand correctly, make it stand for something, investors will assign higher valuation to Mill Creek

Introducing the new Modera logo

We asked our residents, customers & associates to vote on their favorite Modera logo. This one was the winner, capturing

46% of the total votes!This logo will be implemented across our national portfolio.

Zilkr on the ParkAUSTIN, TEXAS І DEVELOPMENT І 213 HOMES

Our leadership team is among the best in the

business.

Mill Creek’s Management Committee

DALLAS HEADQUARTERS

FUN FACT: CHARLIE IS AN EXPERT FLY FISHERMAN.

CHARLIE BRINDELLCHIEF EXECUTIVE OFFICER

WASHINGTON, DC OFFICE

FUN FACT: BILL WAS A COLLEGE FOOTBALL PLAYER.

BOCA RATON OFFICE

FUN FACT: IF YOU’RE LOOKING FOR MIKE, CHECK THE TENNS COURTS.

WASHINGTON, DC OFFICE

FUN FACT: SHERRY RUNS AN ALL- GIRLS CAMP IN THE SUMMER.

SHERRY BROWNCHIEF FINANCE OFFICER

MIKE HEFLEYCHIEF OPERATIONS OFFICER

BILL MACDONALDCHIEF INVESTMENT OFFICER

WASHINGTON, DC OFFICEFUN FACT: CHIP IS A HUGE VAN HALEN FAN.

CHIP BAYEXECUTIVE MANAGING DIRECTOR, CONSTRUCTION

DALLAS HEADQUARTERSFUN FACT: MARK IS A PROUD TEXAS ALUMNI.

MARK DEMPSEYEXECUTIVE MANAGING DIRECTOR, ACQUISITIONS

CONNECTICUT OFFICEFUN FACT: PEOPLE OFTEN MISTAKE MIKE FOR CHEVY CHASE.

MICHAEL MELAUGHEXECUTIVE MANAGING DIRECTOR, CAPTIAL MARKETS

Go team!

Watertown MewsWATERTOWN, MASSACHUSETTS І DEVELOPMENT І 206 HOMES

Do you speak Mill Creek?

WHAT THEY SAY…. WHAT WE SAY….

PROPERTIES COMMUNITIESUNITS APARTMENT HOMES

EMPLOYEES ASSOCIATES

PROJECTS DEVELOPMENT COMMUNITIES

TENANTS RESIDENTS

TRAFFIC CUSTOMERS

Get to know the Mill Creek lingo

It’s a small change in terminology that speaks volumes about how we approach our business.

Need help? It’s right at your fingertips.

Modera TempoALEXANDRIA, VIRGINA І DEVELOPMENT І 492 HOMES

Resource #1: The Mill Creek Portal

Where to find it:http://portal.mcrtrust.com

How to access it:Use your Mill Creek login credentials

What’s there:Forms, reports, training schedules and one-stop access to our core systems – Yardi, Ultipro (HR), Construction Imaging (A/P), Prolog – and more

Resource #2: The Mill Creek website

Where to find it:MillCreekPlaces.com (consumer information)MCRTrust.com (corporate information)

What’s there:Great information on our communities, photos and renderings, the latest company news and our executive bios

Resource #3: Ultipro

Where to find it:On the Mill Creek Portal

How to access it:Use your login provided by Human Resources

What’s therePay statements, W2s, time management tools, benefits overview and your personal information

Resource #4: MCR & Architel Tech Support

Where to find it:On the Mill Creek Portal orsupport@architel.com

How to access it:Send an email – they’re super fast

What’s thereAll the troubleshooting support you need for email, programs, systems and equipment

Point. Click. Connecting with Mill Creek is easy.

Whew! That was quite the Top 10 List. Let’s recap what you’ve learned:

1. Mill Creek’s mission & values2. The story behind the Mill Creek name 3. Our core capabilities4. Mill Creek is national – and growing5. We have a presence in 14 chosen markets6. Our portfolio comprises all asset types7. Our national brand is Modera® by Mill Creek8. Mill Creek’s leadership team is among the best9. How to speak Mill Creek10. If you need help, it’s just a point and a click away

Again, welcome to Mill Creek!

We‘re glad you’re here!

PEOPLE. RELATIONSHIPS.PLACES.

Thank you!