PROJECT SUMMARY​

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• Ballenger Run is a land development project located in Frederick County, Maryland USA

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• Approximately 197 acres intended for 689 residential units, which consist of 479 residential lots and 210 multi-family units.

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• The entity is 83.55% owned by SeD Ballenger LLC and 16.45% owned by CNQC Maryland Development, LLC.

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• In line with our corporate strategy, all 479 residential lots (100%) have been contracted for sale to NVR and are being delivered progressively.

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• NVR Homes have created a concept plan for the  residential units to maximise the value of the project and achieve an optimal product mix.

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• Multi-family site has already been sold to a reputable regional builder/developer; Orchard Communities has completed construction.