Atala — Asset Management Dashboard

Occupied & Leased

191 / 343

55.7% leased · 44.3% exposure

Leased (signed)

+ 163 occupied = 191 total

Available

149

of 339 rentable (4 excluded)

Gap to 75% leased

target 258 units · now 55.7%

Days since TCO

199

TCO 3/12/26

Avg leased rent

$2,902

$3.20/sf · vs property $3.07/sf

Reporting note: 4 model units excluded from rentable inventory Headline = Occupied & Leased. Rent roll captures only "Vacant Rented Not Ready"; occupied units roll off once active.

Source triage — Occupied & Leased reconciliation

Drift (rent roll − box score): -159 occ · -16 leased · -175 total — expected when snapshots are different days

Source	As of	Occupied	Leased	Total
Box Score	09/27/2026	163	28	191
Rent Roll	09/27/2026 04:54 PM EDT	4	12	16
DAR	9/27	—	—	190

Weighted Avg Leased Rents by Unit Type

Unit Type	Leased / Occ	Avg Size	Leased Rent	Rent PSF
1x1	9	751	$2,548	$3.39
1x1D	2	847	$2,855	$3.37
2x2	3	1,074	$3,228	$3.00
3x2D	2	1,422	$4,050	$2.85
Total Leased / Occ	16	907	$2,902	$3.20
Total Property / Budget	343	982	$3,018	$3.07

Filtered to leased/occupied units (Vacant Rented Ready/Not Ready, Occupied No Notice, Notice Rented), one row per unit, weighted avg rent ÷ avg size. Uses Market Rent per unit — RangeWater dropped the charge-code detail from the rent roll export on 6/24, so signed base rent (excl. pet/parking/utility add-ons) is no longer in the source; Market Rent is the only rent field populated for all leased units. Source: rent roll as of 09/27/2026 04:54 PM EDT. Property baseline is the static budget (343 units, 982 sf, $3,018, $3.07/sf).

Window

Cadence

Affects trajectory, daily tour activity, and lead generation charts. Stocks (trajectory) use end-of-period values; flows sum within each period.

Lease-up trajectory · 3/12 – 9/28/26

Total Occupied & Leased 10% target (34) 15% target (51) 20% target (68)

Concession period: 4 weeks free (3/12 – 3/19) 6 weeks free (3/20 – 4/22) 2 months free (4/23 onward)

Continuous daily axis. Targets at floor(343 × percentage). Concession band per period is colored by the regime in effect at the end of that period (so weekly/monthly views aggregate to a single dominant color). 4/22+ from DARs; earlier dates from box scores and inferred net activity.

Funnel conversion · 4/15 – 4/27 (13 days)

New leads

263

100%

Tours completed

30% of leads

Applications

~30

38% of tours

Net new leases

53% of apps

Tours = scheduled + walk-ins. Net leases reflects 28 → 44 over the period. Lead-to-lease all-in: ~6.1%.

Daily traffic

Traffic (incl. virtual tours)

DAR row 14 (Traffic). Pre-4/28 dates derived from prior tour-type splits summed.

Daily lease activity

Gross leases Cancellations / denials

DAR rows 15 + 16. Net leases (= Gross − Cancel) shown in the separate chart below.

Unit-mix detail

Unit-mix velocity

Leased (signed) Available Excluded

Leased = "Vacant Rented Not Ready" on rent roll (signed leases waiting move-in). Excluded = employee + model units. Bars sum to total inventory of each mix.

Unit-mix breakdown

Mix	Total	Excl	Rent.	Occ	Leased	Occ + Leased	Avail.	Lsd %	Avg rent	$/sf
Studio (Aster)	11	1	10	6	0	6	5	60.0%	$0	$0.00
1BR (Zinnia)	115	1	114	64	17	81	31	71.1%	$2,548	$3.39
1BR + Den (Zinnia K)	31	1	30	26	3	29	2	96.7%	$2,855	$3.37
2BR (Cosmos)	130	1	129	32	6	38	91	29.5%	$3,228	$3.00
2BR + Den (Cosmos M/N)	28	0	28	19	1	20	8	71.4%	$0	$0.00
3BR (Lavender)	28	0	28	16	1	17	12	60.7%	$4,050	$2.85
Total	343	4	339	163	28	191	149	56.3%	$2,902	$3.20

Per-mix counts derived from the rent roll (as of 09/27/2026 04:54 PM EDT) — total here may trail the headline (which uses the freshest DAR) by a few units between rent-roll refreshes. Property baseline (all 343 units): avg rent $3,018 · $3.07/sf. Leased rents tracking at $3.20/sf — 4.2% vs budget.

Daily net leases

Net leases Net cancellations

Lead source mix

Drive By Property Website Zillow Other

Leasing Agent Performance

Source: RangeWater monthly marketing review — "Tour-Lease by Agent" (June 2026 – August 2026). Apps Completed = applications the agent took that month; Apps Approved = applications the agent got through screening that month. Per-month columns show apps completed.

Leasing Agent	June	July	August	Apps Completed	Apps Approved
① Gonzalez, Lloyd	20	14	26	60	51
② Arencibia, Ivexi	10	22	16	48	36
③ Corso, Claudette	4	5	6	15	14
Zuniga, Juliana	10	1	0	11	1
Ramos, Maggie	2	2	2	6	5
Buell, Elisa	0	0	0	0	0
Madera, Norelis	0	—	—	0	0
Team total	46	44	50	140	107
Elise, Meet (LeasingAI)	1	0	0	1	1

① ② ③ = top-3 producers by apps completed. System rows (LeasingAI bot, House, Not Assigned) shown separately in grey — not team members. Completed and Approved are independent monthly counts (an app completed one month may be approved the next), so they're shown as two separate productivity measures rather than a ratio.

Move-ins

Moved in to date

rent roll as of 09/27/2026

Signed, not yet moved in

box score 09/27/2026

Occupied + Leased

191

of 343 units

Peak move-in month

September

4 move-ins

Move-ins by month

Move-ins by unit type

Recent move-ins (latest 25)

Unit	Resident	Unit type	Move-in
1-502	Rodriguez, Genesis	1BR + Den (Zinnia K)	9/25/26
1-740	Antigua, Yubelkis	3BR (Lavender)	9/24/26
1-110	Inda regueira, Ricardo	2BR (Cosmos)	9/18/26
1-545	Mejia Baez, Karla	1BR (Zinnia)	9/16/26

Source: daily Entrata rent roll — each occupied unit's actual Move-In date (as of 09/27/2026). "Signed, not yet moved in" (28) is from the box score; the rent roll doesn't carry a move-in date for not-yet-occupied leases, so a forward move-in schedule isn't shown here (the RangeWater "Projected Move-ins" feed that supplied it stopped after April).

Leased rent by floor plan (weighted)

Code	Mix	Leases	Avg sqft	Avg leased rent	$/sf
A3	1BR (Zinnia)	3	738	$2,630	$3.56
A4	1BR (Zinnia)	1	612	$2,555	$4.17
A5	1BR (Zinnia)	1	725	$2,690	$3.71
A7	1BR (Zinnia)	1	777	$2,615	$3.37
A8	1BR (Zinnia)	3	809	$2,553	$3.16
AD1	1BR + Den (Zinnia K)	2	847	$2,938	$3.47
B2	2BR (Cosmos)	1	1,000	$3,155	$3.15
B4	2BR (Cosmos)	1	1,018	$3,385	$3.33
B9	2BR (Cosmos)	1	1,205	$3,400	$2.82
C1	3BR (Lavender)	2	1,422	$4,163	$2.93
Weighted total (16 leases)		16	907	$2,972	$3.28

Weighted by lease count. Source: rent roll (Vacant Rented Not Ready). 2 occupied units (already moved in) not included here — they roll off rent roll once active.

Recent leased units (rent roll · top 15)

Bldg-Unit	FP	Mix	SQFT	Resident	Rent	$/sf
1-110	B4	2BR (Cosmos)	1,018	Inda regueira, Ricardo	$3,385	$3.33
1-502	AD1	1BR + Den (Zinnia K)	847	Rodriguez, Genesis	$2,905	$3.43
1-545	A4	1BR (Zinnia)	612	Mejia Baez, Karla	$2,555	$4.17
1-740	C1	3BR (Lavender)	1,422	Antigua, Yubelkis	$4,180	$2.94
1-214	B2	2BR (Cosmos)	1,000	Hernandez Guarisma, Daniel	$3,155	$3.15
1-233	A8	1BR (Zinnia)	809	Alvarez, Jose	$2,635	$3.26
1-325	C1	3BR (Lavender)	1,422	Henao Morales, Carolina	$4,145	$2.91
1-338	A8	1BR (Zinnia)	809	Vila, Jose	$2,364	$2.92
1-522	A3	1BR (Zinnia)	738	Perez, Jose	$2,610	$3.54
1-532	A3	1BR (Zinnia)	738	Eguiguren, Vanessa	$2,610	$3.54
1-534	A7	1BR (Zinnia)	777	Diaz Oramas, Eyglin	$2,615	$3.37
1-538	A8	1BR (Zinnia)	809	Ochoa, Maria	$2,660	$3.29
1-543	A5	1BR (Zinnia)	725	Sterrantino, Rashel	$2,690	$3.71
1-715	AD1	1BR + Den (Zinnia K)	847	Hayes, Daelin	$2,970	$3.51
1-728	B9	2BR (Cosmos)	1,205	Cancian, Cristina	$3,400	$2.82

Source: rent roll (data as of 09/27/2026 04:54 PM EDT). Showing top 15 of 16 leased units. All currently in "Vacant Rented Not Ready" status (signed but not moved in).

Financial Performance

YTD Operating Revenue

$790,831

8 months reported · pre-stabilization (no rent yet)

YTD Total OpEx

$778,398

$97,300 / mo avg

YTD NOI

$12,433

lease-up burn — turns positive once revenue scales

YTD Net Loss

$-72,770

incl. $-85,203 non-operating

Latest month

Aug 2026

Source: Atala Reporting (01.26-06.26)

Monthly P&L

Line item	Jan 2026	Feb 2026	Mar 2026	Apr 2026	May 2026	Jun 2026	Jul 2026	Aug 2026	YTD
Operating Revenue	$0	$1,150	$8,200	$18,836	$85,740	$141,929	$245,917	$289,059	$790,831
Operating Expenses:
Property Payroll	$7,583	$14,396	$25,318	$46,350	$24,474	$67,174	$64,313	$50,511	$300,120
Advertising & Marketing	$0	$3,735	$21,899	$12,994	$19,387	$25,746	$25,754	$29,151	$138,667
General & Administrative	$594	$12,996	$8,754	$7,363	$13,110	$9,689	$12,265	$14,260	$79,033
Total Operating Expenses	$14,629	$41,128	$65,972	$81,258	$113,882	$156,912	$152,407	$152,210	$778,398
Net Operating Income (Loss)	$-14,629	$-39,978	$-57,772	$-62,422	$-28,142	$-14,983	$93,510	$136,849	$12,433
Non-Operating Income/(Expense)	$-7,800	$-10,328	$7,265	$-1,469	$-45,826	$-10,841	$-13,582	$-2,622	$-85,203
Net Income / (Loss)	$-22,429	$-50,306	$-50,506	$-63,891	$-73,968	$-25,824	$79,928	$134,226	$-72,770

Source: Atala Reporting (01.26-06.26). Each column = that month's PTD; YTD column = running total from the latest statement.

Monthly OpEx breakdown

Property Payroll Marketing G&A

NOI & Net Loss trend

NOI (loss) Net Income/(Loss)

Actual vs PM Budget vs Owner Proforma

Calendar anchor: Jan 2026 = M1 across all three streams PM Budget: RangeWater Lease-Up M1-M12 Proforma (06/27/25) Owner Proforma: BP v18 P1 MCF (Jan 2026 = col 37 / M30 of model)

Apples-to-apples adjustment: Actual OpEx + NOI in this section include imputed Insurance + Property Taxes at the same monthly rate as the Owner Proforma (RangeWater hasn't booked those costs yet — first tax assessment and insurance billing aren't posted, but they're inevitable). PM Budget's Insurance + Taxes were blank in the M1-M12 file and likewise use the BP's monthly values, so all three streams carry identical T&I. The standalone Monthly P&L table above shows raw actuals as RangeWater reported them. Actual data extends through Aug 2026; budget/proforma lines extend through Dec 2026.

Revenue · monthly

Actual PM Budget Owner Proforma

OpEx · monthly

Actual PM Budget Owner Proforma

NOI · monthly

Actual PM Budget Owner Proforma

Avg leased rent

Actual (rent roll, $2,902) PM Budget (gross potential, $3,346) Owner Proforma (monthly trajectory)

Aggregation

Annualization: sum of last N reported months × (12/N). Budget streams aligned to the same months as actuals (apples-to-apples).

Line item	Actual	PM Budget	Δ vs PM	Owner Proforma	Δ vs BP
Revenue	—	—	—	—	—
Payroll	—	—	—	—	—
Repairs & Maintenance	—	—	—	—	—
Marketing / Advertising	—	—	—	—	—
Contracted Services	—	—	—	—	—
Turnover / Make-Ready	—	—	—	—	—
Utilities	—	—	—	—	—
General & Admin	—	—	—	—	—
Management Fee	—	—	—	—	—
Replacement Reserves	—	—	—	—	—
Controllable OpEx	—	—	—	—	—
Controllable NOI	—	—	—	—	—
Insurance	—	—	—	—	—
Real Estate Taxes	—	—	—	—	—
Total Operating Expenses	—	—	—	—	—
Net Operating Income (NOI)	—	—	—	—	—
Debt Service	—	—	—	—	—
Non-Operating Income / (Expense)	—	—	—	—	—
Net Income / (Loss)	—	—	—	—	—

PM Budget and Actuals share the same Insurance ($411,600/yr) and Real Estate Taxes ($313,702/yr based on 2025 TRIM). Owner Proforma keeps its own (higher) BP-derived T&I. BP doesn't break out controllable categories — payroll/marketing/etc. show "—" for that stream. Debt Service is currently $0 (loan not yet funding). Net Income = NOI − Debt Service + Non-Operating.

Marketing — Aug 2026

Source: RangeWater Strategic Marketing (Rachel Stevenson, Hyly.AI report). · Download full PDF

End of Period Occupancy

40.5%

Budgeted 51.6% · 30-day exposure 46.6%

Next-Period Occupancy Goal

56.00%

319 leads · 80 tours · 37 leases needed

Lead Funnel — Conversion

Window:

Funnel volume by month

Conversion rates by month

Lead Funnel — Volume

Cost per Contact

Top Spend Sources

No data parsed.

Top Lead Sources (by Created Contacts)

No data parsed.

Top Lead Sources (by 1st Toured)

No data parsed.

Recent Updates

Initiated final "free" internal email blast campaign with SEM provider
Used "fall into savings" messaging, should deploy week of 9/7
Insights:
Using updated API data, leads & traffic attributed to AI sources is higher than reported in the PMS
6 leads, 2 traffic, 1 gross lease (0 net)
Chatgpt credited as the 8th highest referral source for new website users, with engagement rate nearly double benchmark at 83%
Key events increased 105% from all sources, indicating high-intent prospects are interested in our product, or that comps began to back down from
aggressive Summer spend in August
High quality traffic from all sources, all ILS delivered net applications in August
Realtor referral fee and/or resident referral fee is not included in total CPLL- 1 net lease attributed from each source
Apartment List delivering 1 lease/month on average. Consider reducing PPL (lead volume will decrease dramatically but traffic & leases may not suffer as market softens in Q4)
Leads & tours remain steady compared to July despite market softening after back-to-school season. Tour/lease conversion continues to improve

Recommendations

N/A- no changes to strategy needed at this time
Ongoing recommendation from SEM provider to increase investment in top-of-funnel (brand awareness) campaigns, recommending to table this due to August performance
End of Period Occupancy: Occupied 40.5% | Budgeted Occupancy: 51.6% | 30 Day Exposure: 46.6%
Future Reporting Period Occupancy Goal: 56% (319 Leads, 80 Tours, 37 Leases)
Monthly Marketing-ReviewAtala Apartments (5) - August 2026

Refreshed monthly. Going forward Rachel will add: 30/month leasing goal, denial ratio, and lead/tour & tour/lease conversion ratios. Costar photos & virtual tours pending addition to the gallery; SEO/GEO opportunities to follow.

Concessions

Source: Entrata "Atala Concession Burn Off" · data as of 05/13/2026 · 2026-05-13__Atala Concession Burn Off 05132026.xlsx

Total Concessions Committed

$193,571

across 34 leases · $5,693 avg per lease

Burned Off So Far

$5,308

2.7% of total · already hit P&L

Remaining to Burn

$188,263

future rent reductions over remaining lease terms

Recurring vs One-Time

$44,100 / $149,471

22.8% recurring · 77.2% one-time

Read: One-time concessions ($149,471, 77.2% of total) hit revenue at move-in. Recurring concessions ($44,100, 22.8%) amortize monthly over each lease term — so $-108/mo per impacted lease is the rough hit, but the actual monthly burn depends on lease start dates. $5,308 has already burned off (2.7% of the program).

By Lease Status

Status	Leases	Total Concession	Remaining	Burned
Applicant	5	$24,580	$24,580	$0
Future	15	$79,551	$79,551	$0
Current	14	$89,440	$84,133	$5,308

Top Concessions (sorted by total $)

Unit	Resident	Status	Move-In	Term	Total $	Remaining $	Breakdown
1-206	Ramos, Maggie	Current	2026-04-25	12 months	$22,017	$18,795	$22,017 recurring
1-106	Ramirez, Eric	Future	2026-05-28	15 months	$9,931	$9,931	$5,153 recurring + $4,778 one-time
1-237	Cordoba, Paola	Current	2026-04-24	12 months	$9,880	$8,400	$9,880 recurring
1-425	Manzanares, Giselle	Future	2026-05-28	15 months	$8,220	$8,220	$8,220 one-time
1-806	Gonzalez, Lloyd	Current	2026-05-09	7 months	$7,874	$7,330	$7,874 one-time
1-606	Obregon, Edgardo	Current	2026-05-05	15 months	$7,322	$7,310	$7,322 one-time
1-207	Rivera, Linette	Future	2026-06-05	15 months	$7,050	$7,050	$7,050 recurring
1-704	Tortolani, Gaetano	Future	2026-07-24	15 months	$6,720	$6,720	$6,720 one-time
1-105	Pena, Abraham	Applicant	2026-06-19	13 months	$5,590	$5,590	$5,590 one-time
1-215	Serrano Aguilar, Claudia	Current	2026-05-01	13 months	$5,520	$5,520	$5,520 one-time
1-505	Hernandez Franceschi, Arnaldo	Future	2026-07-10	15 months	$5,460	$5,460	$5,460 one-time
1-807	Garcia, Marisel	Current	2026-05-01	15 months	$5,415	$5,415	$5,415 one-time
1-730	Guzman, Daniel	Future	2026-06-11	15 months	$5,400	$5,400	$5,400 one-time
1-607	Grullon, Joel	Future	2026-05-25	12 months	$5,325	$5,325	$5,325 one-time
1-218	Rosado, Grace	Future	2026-05-25	12 months	$5,318	$5,318	$5,318 one-time
1-234	Casas, David	Applicant	2026-07-20	15 months	$5,205	$5,205	$5,205 one-time
1-434	Reiche, Ryan	Applicant	2026-07-06	15 months	$5,180	$5,180	$5,180 one-time
1-413	Goncalves, Andreina	Current	2026-05-11	12 months	$5,093	$5,093	$5,093 one-time
1-324	Patel, Dipeshkumar	Applicant	2026-05-25	13 months	$5,080	$5,080	$5,080 one-time
1-213	santacruz quiroga, Ruben	Future	2026-05-26	15 months	$5,070	$5,070	$5,070 one-time

Showing top 20 of 34 leases with concessions. Current = moved in. Future = signed, scheduled to move in. Applicant = in approval pipeline.

Atala — asset management dashboard

Weighted Avg Leased Rents by Unit Type

Lease-up trajectory · 3/12 – 9/28/26

Funnel conversion · 4/15 – 4/27 (13 days)

Daily traffic

Daily lease activity

Unit-mix detail

Unit-mix velocity

Unit-mix breakdown

Daily net leases

Lead source mix

Leasing Agent Performance

Move-ins

Move-ins by month

Move-ins by unit type

Recent move-ins (latest 25)

Leased rent by floor plan (weighted)

Recent leased units (rent roll · top 15)

Financial Performance

Monthly P&L

Monthly OpEx breakdown

NOI & Net Loss trend

Actual vs PM Budget vs Owner Proforma

Revenue · monthly

OpEx · monthly

NOI · monthly

Avg leased rent

Marketing — Aug 2026

Lead Funnel — Conversion

Lead Funnel — Volume

Cost per Contact

Top Spend Sources

Top Lead Sources (by Created Contacts)

Top Lead Sources (by 1st Toured)

Recent Updates

Recommendations

Concessions

By Lease Status

Top Concessions (sorted by total $)