FREQUENTLY ASKED QUESTIONS

THE FIRM
Process & Investment Approach

IMPORTANT INFORMATION: THIS SUMMARY IS NOT AN OFFER TO SELL ANY SECURITY. THERE IS RISK OF LOSS WITH ANY INVESTMENT AND PAST PERFORMANCE IS NOT A GUARANTEE OF FUTURE RESULTS. FORWARD-LOOKING STATEMENTS OR OPINIONS STATED IN THIS LETTER ARE OPINIONS AND SUBJECT TO CHANGE. AS A PRIVATE REAL ESTATE FUND, INVESTMENTS ARE ILLIQUID AND INVESTORS CANNOT READILY WITHDRAW THEIR INVESTMENT IN THE FUNDS. PORTFOLIO PERFORMANCE CAN ALSO BE AFFECTED BY GENERAL MARKET CONDITIONS, INTEREST RATES, AVAILABILITY OF CREDIT AND OTHER ECONOMIC CONDITIONS THAT AFFECT REAL ESTATE MARKETS.

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