Stony Hill Village LLC (“Sponsor”) is seeking to develop a 160-unit age-restricted, market rate, independent senior housing complex located on 15.0 acres of undeveloped land located at 3 Laddey Lane, Sparta, Sussex County, New Jersey (the “Project”). When completed, the Project will consist of the following unit mix:

All necessary zoning, permitting and entitlements have been approved by Sparta Township, New Jersey. The Borrower currently owns the land on which the Project will be located free of any liens. An “as-is” MAI appraisal has not been completed on the land.

Community Amenities

 Concierge Services
 24-hour onsite super intendant
 24-hour package concierge service in lobby
 24-hour property management service
 Non-smoking facility
 Video surveillance and security throughout the property
 Pet friendly
 Dog park
 Hiking trails to and around Blue Heron Lake
 Shuttle service for residents
 High speed internet, wifi and television service
 Fitness center
 Meeting rooms

 Resident lounge with fireplace
 On-line rent payments
 Panoramic view of surrounding mountains and landscape
 5 minutes to Sparta Town Center
 Easy Access to Routes 15 and 80
 Electronic key card access for each building
 5 minutes to golf course and other outdoor activities
 Smoke free facility
 Free parking
 Weekly scheduled bingo and other activities in meeting rooms from outside vendors
 Free coffee, tea and bagels in lounge area

Apartment Amenities

 Gourmet Style Kitchen
 Washer/Dryer in each unit
 Granite Countertops
 Stainless Steel Appliances
 Microwaves in each unit
 Dishwasher in each unit
 Refrigerator in each unit
 Private balconies in select units
 Elevators
 Hard wood floors
 Unit controlled heating and air conditioning
 Decorative molding in each unit