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EXHIBIT I-6BDEMAND ESTIMATE - SEGMENTATION / RENTER PROFILEORANGE COUNTY2017Households U.S. Profile CMAOrange County Santa Ana CMA Range % Renter HHs Preference DemandRenters Num. Share Num. Share Num. Share Income Age Rent Family Total Share Demand S/1B 2B 3B S/1B 2B 3Bof Inc.Young Singles / CouplesQualHome Sweet Home 157 0% 0 0% 0 0% 60%-80% 25-44 21% w/o Kids 0 0% 060% 40% 0%000Young & Influential 13,977 1% 57 0% 1,355 1% 40%-60% 25-44 100% Mostly w/o Kids 1,355 66% 32060% 40% 0%192 128 0New Beginnings 1,877 0% 15 0% 144 0% 0%-20% <55 92% Mostly w/o Kids 133 6% 3160% 40% 0%19 13 0Subtotal: 16,011 2% 72 0% 1,499 1% 1,488 72% 352 60% 40% 0% 211 141 0FamiliesKids & Cul-de-Sacs5,829 1%34 0%764 1% 80%-100% 25-44 24% Family Mix182 9% 4310% 60% 30%42613Beltway Boomers4,740 0%34 0%377 0% 60%-80% <55 22% Family Mix83 4% 2010% 60% 30%212 6Pools & Patios272 0%0 0%17 0% 60%-80% 25-44 24% Mostly w/ Kids4 0% 110% 60% 30%010Second City Startups1,580 0%0 0%21 0% 40%-60% 25-44 37% Mostly w/ Kids8 0% 210% 60% 30%011Subtotal:12,421 1%68 0% 1,179 1%277 13% 66 10% 60% 30% 7 39 20Mature Professionals / Empty NestersCruisin' to Retirement 17,150 2% 428 1% 1,701 2% 80%-100% 55+ 9% Mostly w/o Kids148 7% 3530% 60% 10%10 21 3Traditional Times60 0%0 0%0 0% 60%-80% 65+ 5% w/o Kids0 0% 050% 50% 0%000Empty Nests10,736 1% 105 0%514 0% 40%-60% 65+ 8% w/o Kids40 2% 950% 50% 0%550Toolbelt Traditionalists 5,396 1%26 0%494 0% 40%-60% 45-64 22% Mostly w/o Kids109 5% 2650% 50% 0%13 13 0Subtotal:33,342 3% 559 1% 2,709 2%297 14% 70 40% 55% 5% 28 39 3Total:1,059,77877,436112,710Targeted:61,774 6% 699 1% 5,387 5%2,062 100%48850% 45% 5% 246 219 23Source: TCG, based on Spotlight demographic data applied to demand model in Exhibit I-6A0%10%20%30%40%50%60%70%80%90%100%CMA Santa Ana Orange CountyIncome Qualified Demand Segmentation by Renter TypeEmpty NestsTraditional TimesCruisin' to RetirementToolbelt TraditionalistsPools & PatiosSecond City StartupsBeltway BoomersKids & Cul-de-SacsNew BeginningsYoung & InfluentialHome Sweet Home50%45%50%45%49%45%5%6%5%0%10%20%30%40%50%60%70%80%90%100%CMA Santa Ana Orange CountyIncome Qualified Demand Segmentation by Unit ConfigurationStudio/1-Bed2-Bed3-BedTaking into account the most prevalent PRIZM householdscategories and their projected unit type preference, theCompetitive Market Area has annual demand for 227 studios/1-bedrooms, 202 2-bedrooms, and 21 3-bedrooms.72% (352) Young Singles/Couples, 13% (66) Families, and 14% (70)Mature Professionals/Empty Nesters make up rental demand withdifferent preferences cumulating to an overall market demand of 50%Studios/one-beds, 45% two-beds, and 5% 3 bedrooms.17590.00 Macro: Dem-SegThe Concord Group2-265