Aura 509

Jones Lang Lasalle, a North Carolina licensed real estate broker (“JLL”), has been

retained as the exclusive sales representative for Aura 509 (“The Asset, The

Property, or The Offering”). This podium construction asset consisting of 182

units is in Downtown Durham, offering a unique live-work-play environment to its

residents. Google, Meta & BlueCross BlueShield of North Carolina are just a few of

the major employers within walking distance to Aura 509. The asset is also proximate

to Duke Health and the Duke University Campus.

Aura 509 is an exclusive offering to acquire a Class-A Podium asset in a highly

coveted submarket in the Carolinas at a significant discount to replacement cost. In an

environment with rising construction costs sensitive to legislation risk regarding tariffs,

the discount to replacement cost will only continue to grow limiting opportunities for

developers to build podium construction in the Carolinas. The rise in construction

costs will continue to prohibit the feasibility of developing podium multifamily, thus

leading to increased asset values driven by market rent growth, resulting in a unique

short-term opportunity to acquire Aura 509 at a 20%+ discount to replacement cost.

Located on North Mangum St., Aura 509 is in Durham’s premier submarket, offering

residents walk-ability to major employers, entertainment districts, high accessibility

via the Durham Freeway, and a plethora of dining and retail attractions. Downtown

Durham is home to employers who have over 20,000 workers based in the CBD,

creating significant demand for housing in the submarket which is reflected in the

population of downtown increasing by 34% from 2019 to 2023. Downtown Durham

has over 100 different bars and restaurants, and several entertainment districts

including: The Bull Pen, City Center, American Tobacco District, and the Central Park

District.

Aura 509 is currently the only opportunity to acquire a podium asset in the major

Carolinas markets. The attractive basis at which potential investors can acquire

The Asset represents a fleeting window of opportunity that is rapidly closing in

the current market environment. The Property presents and ideal combination of

quality construction, urban core location, and access to major employers and retail

attractions, being offered at a once-in-a-lifetime basis.