TENURED

RREAF

Targeted Investor IRR
32.0%
Targeted Equity Multiple
2.16x
Targeted Investment Period
3 years
Investment Profile
Value Add
Property Type
Hospitality
CLOSES 05/15
REPEAT EMERGING

Virtua Partners

Targeted ROI (per annum)
30%
Investor Preferred Return
15%
Targeted Investment Period
3 years
Investment Profile
Equity Fund
Minimum Investment
$50,000

Spartanburg, SC

REPEAT SEASONED

Mascia Development

Targeted Investor IRR
14.0%
Targeted Equity Multiple
2.91x
Targeted Investment Period
10 Years
Investment Profile
Value Add
Minimum Investment
$10,000
CLOSES 05/10
Targeted Investor IRR
16.7%
Targeted Equity Multiple
1.95x
Targeted Investment Period
5 years
Investment Profile
Value-Add
Minimum Investment
$50,000

Hillsborough, North Carolina

Targeted Investor IRR
15% - 17%
Targeted Average Annual Cash Yield
8.4%
Targeted Investment Period
5 - 7 years
Investment Profile
Core Plus
Minimum Investment
$20,000

Beverly Hills, Santa Monica, Malibu, West Los Angeles, CA

Historic Net IRR
20.4%
Historic Equity Multiple
2.35x
Tax Deferred Returns
Yes
Targeted Fund Term
12- 15 years
Investment Profile
Equity Fund
Targeted Investor IRR
20-24%
Targeted Equity Multiple
2.88x
Targeted Investment Period
7 years
Investment Profile
Equity Fund
Minimum Investment
$50,000
Targeted Investor IRR
17-19%
Targeted Equity Multiple
1.7-1.9
Targeted Investment Period
3-5 years
Investment Profile
Medical Offices
Minimum Investment
$20,000

Kansas City, Missouri

Investor Preferred Return
8.0%
Targeted Equity Multiple
See details
Targeted Investment Period
See details
Investment Profile
Opportunistic
Minimum Investment
$25,000
Targeted Investor IRR
14% - 18%
Investor Preferred Return
10%
Targeted Investment Period
5 years
Investment Profile
Value-Add
Minimum Investment
$50,000
REPEAT TENURED

Encore Enterprises

Investor Preferred Return
8%
Targeted Investment Period
5 years
Investment Profile
Mixed
Property Type
Mixed
Minimum Investment
$50,000

Kansas City, MO

Targeted Investor IRR
14.75%
Targeted Equity Multiple
3.33x
Targeted Investment Period
10 years
Investment Profile
Development
Minimum Investment
$50,000
Targeted Investor IRR
9% - 13%
Investor Preferred Return
8%
Targeted Investment Period
2 year minimum
Investment Profile
Debt
Minimum Investment
$25,000
$225,000 Committed
6 Investors

Northgate Business Park III Dallas, Texas

Projected Investor IRR
See PPM
Projeted Equity Multiple
1.76x
Projected Investment Period
3 - 5 years
Investment Profile
Core Plus
Closed 4/21/2017
$630,000 Committed
17 Investors

FC Alondra 37 Norwalk, CA

Targeted Investor IRR
18.8%
Targeted Equity Multiple
1.41
Targeted Investment Period
2 years
Investment Profile
Value add
Closed 3/16/2017
$1,440,000 Raised
16 Investors

Traders on Grand Kansas City, Missouri

Targeted Investor IRR
27.3% / 23.3%
Targeted Equity Multiple
3.35 / 4.73
Targeted Investment Period
7-12 years
Investment Profile
Redevelopment
Closed 3/4/2017
$1,995,000 Raised
51 Investors

Parkway Office Centre Denver, Colorado

Targeted Investor IRR
See Details
Targeted Equity Multiple
See Details
Targeted Investment Period
4 years
Investment Profile
Value-Add
Closed 3/1/2017
$2,215,000 Committed
40 Investors

Alpha GP Fund I

Targeted Investor IRR
25-30%
Targeted Equity Multiple
3.00x
Targeted Investment Period
3-5 Years
Investment Profile
Equity Fund
Closed 2/27/2017
$6,340,600 Raised
141 Investors

Hellyer Oaks Technology Park San Jose, California

Targeted Investor IRR
38.7%
Targeted Equity Multiple
1.91x
Targeted Investment Period
2 years
Investment Profile
Opportunistic
Closed 2/10/2017
$300,000 Raised
6 Investors

Vineyard Springs San Antonio, Texas

Targeted Investor IRR
15.3% / 15.1%
Targeted Equity Multiple
2.14x / 3.19x
Targeted Investment Period
6 / 10 years
Investment Profile
Core-plus
Closed 2/7/2017
$2,856,000 Raised
97 Investors

IntelliStay Courtyard Tulsa Tulsa, OK

Targeted Investor IRR
20.9%
Targeted Equity Multiple
2.59x
Targeted Investment Period
7 years
Investment Profile
Value Add
Closed 2/6/2017
$1,740,000 Raised
55 Investors

Vitae Residences Denton, Texas

Targeted Investor IRR
20.1%
Targeted Equity Multiple
2.25x
Targeted Investment Period
5 years
Investment Profile
Core Plus
Closed 1/17/2017
$670,000 Committed
22 Investors

Burnside Portland, OR

Targeted Investor IRR
22.0%
Targeted Equity Multiple
1.93x
Targeted Investment Period
4 years
Investment Profile
Development
Closed 12/21/2016
$1,460,000 Raised
22 Investors

Peanut Factory Lofts San Antonio, Texas

Targeted Investor IRR
15.4%
Targeted Equity Multiple
1.93x
Targeted Investment Period
5 years
Investment Profile
Core Plus
Closed 12/17/2016
$150,000 Raised
2 Investors

Domain at Kirby Houston, Texas

Targeted Investor IRR
14.7% / 15.8%
Targeted Equity Multiple
2.06x / 3.30x
Targeted Investment Period
6 / 10 years
Investment Profile
Core Plus
Closed 12/17/2016
$3,775,000 Raised
64 Investors

O'Donnell Opportunity Fund V Multiple Locations

Targeted Investor IRR
15%
Investor Preferred Return
10%
Targeted Investment Period
5 years
Investment Profile
Value-Add
Closed 12/16/2016
$804,000 Raised
43 Investors

IntelliStay Fairfield Tulsa Tulsa, Oklahoma

Targeted Investor IRR
22.2%
Targeted Equity Multiple
2.9x
Targeted Investment Period
7 years
Investment Profile
Value Add
Closed 12/6/2016
$750,000 Committed
14 Investors

Tudor Heights Omaha, Nebraska

Targeted Investor IRR
14.8%
Targeted Avg. Annual Cash Yield
11.5%
Targeted Investment Period
10 Years
Investment Profile
Value Add
Closed 11/21/2016
$890,500 Raised
43 Investors

The Washburn Memphis, Tennessee

Targeted Investor IRR
20.7%
Targeted Equity Multiple
2.28x
Targeted Investment Period
5 years
Investment Profile
Core Plus
Closed 11/16/2016
$2,245,000 Raised
56 Investors

Somerset & Stratton Park Fort Worth, Texas

Nicholas Residential & Parawest Management

Targeted Investor IRR
20.8%
Targeted Equity Multiple
2.24x
Targeted Investment Period
3 - 5 years
Investment Profile
Value Add
Closed 11/7/2016
$400,000 Raised
4 Investors

Encore Phoenix Phoenix, Arizona

Targeted Equity Multiple
2.24x
Targeted Investor IRR
Confidential
Targeted Investment Period
5 Years
Investment Profile
Development
Closed 10/26/2016
$545,000 Raised
7 Investors

MO Azzurri LLC - Lyfe @ Missouri Columbia, MO

Targeted Equity Multiple
2.6x
Targeted Investor IRR
17.7%
Targeted Investment Period
7 Years
Investment Profile
Core Plus
Closed 10/25/2016
$2,228,000 Committed
57 Investors

Addison Corporate Center Windsor, Connecticut

Targeted Equity Multiple
2.46x
Targeted Investor IRR
34.9%
Targeted Investment Period
3 Years
Investment Profile
Opportunistic
Closed 10/17/2016
$430,000 Raised
17 Investors

Cincinnati Medical Portfolio Multiple Locations, Ohio

Targeted Equity Multiple
3.25x
Targeted Investor IRR
15.2%
Targeted Investment Period
10 Years
Investment Profile
Core Plus
Closed 10/13/2016
$338,000 Raised
10 Investors

San Dimas Apartments San Dimas, California

Targeted Equity Multiple
1.55x
Targeted Investor IRR
27.7%
Targeted Investment Period
2 - 5 Years
Investment Profile
Value Add
Closed 10/5/2016
$1,755,000 Raised
23 Investors

E-Commerce Distribution Center Memphis, Tennessee

Targeted Equity Multiple
2.93x
Targeted Investor IRR
25.2%
Targeted Investment Period
5 Years
Investment Profile
Value Add
Closed 9/18/2016
$225,266 Raised
5 Investors

Village at Juban Lakes Denham Springs, Louisiana

Targeted Equity Multiple
Confidential
Targeted Investor IRR
Confidential
Targeted Investment Period
10 Years
Investment Profile
Core Plus
Closed 9/18/2016
$1,185,000 Raised
44 Investors

Front Street Properties Memphis, Tennessee

Targeted Investor IRR
21.0%
Targeted Equity Multiple
2.24x
Targeted Investment Period
5 Years
Investment Profile
Core Plus
Closed 9/15/2016
$215,000 Raised
8 Investors

Fountains of Fellsmere Fellsmere, Florida

Targeted Avg. Annual Cash Yield
8%
Targeted Investor IRR
11.2%
Targeted Investment Period
5 Years
Investment Profile
Mezzanine Debt
Closed 9/12/2016
$1,378,000 Raised
31 Investors

Entrance at Lakeway Lakeway, Texas

Targeted Equity Multiple
1.5x
Targeted Investor IRR
20.7%
Targeted Investment Period
2 - 3 Years
Investment Profile
Value Add
Closed 9/9/2016
$350,000 Raised
5 Investors

Olympus Fund V Multiple Locations

Targeted Avg. Annual Cash Yield
7.8%
Targeted Investor IRR
10.0%
Targeted Investment Period
5 - 10 Years
Investment Profile
Core
Closed 8/26/2016
$1,486,000 Raised
36 Investors

Hoyt20 Portland, Oregon

ScanlanKemperBard & Green Light Development

Targeted Equity Multiple
See details
Targeted Investor IRR
Confidential
Targeted Investment Period
2 - 7 Years
Investment Profile
Development
Closed 8/25/2016
$175,000 Raised
3 Investors

Tampa Woods - Class B Tampa, Florida

Targeted Investor Equity Multiple
2.99x
Targeted Investor IRR
15.4%
Targeted Investment Period
10 Years
Investment Profile
Preferred Equity
Closed 8/8/2016
$3,449,000 Raised
67 Investors

Virtua High Growth Fund II Multiple Locations

Investor Preferred Return
15%
Targeted Investor IRR
30%
Targeted Investment Period
3 Years
Investment Profile
Opportunistic
Closed 7/31/2016
$980,000 Raised
22 Investors

Franklin Opportunity Fund II Lehigh Valley, Pennsylvania

Targeted Avg. Annual Cash Yield
8.0%
Targeted Investor IRR
17.7%
Targeted Investment Period
5 Years
Investment Profile
Value Add
Closed 7/28/2016
$650,000 Raised
6 Investors

Arbours at Garden Grove Winter Haven, Florida

Targeted Equity Multiple
2.04x
Targeted Investor IRR
17.1%
Targeted Investment Period
5 Years
Investment Profile
Value Add
Closed 7/27/2016
$1,800,000 Raised
23 Investors

River's Edge Haverhill, Massachusetts

Targeted Equity Multiple
3.84x
Targeted Investor IRR
28.1%
Targeted Investment Period
7 Years
Investment Profile
Value Add
Closed 6/20/2016
$900,000 Raised
27 Investors

Everest West Central Delaware, Ohio

Targeted Avg. Annual Cash Yield
9.6%
Targeted Investor IRR
20.2%
Targeted Investment Period
5 Years
Investment Profile
Core Plus
Closed 5/15/2016
$3,705,000 Raised
110 Investors

IntelliStay Lima Lima, Ohio

Targeted Avg. Annual Cash Yield
18.8%
Targeted Investor IRR
22.4%
Targeted Investment Period
5 Years
Investment Profile
Value Add
Closed 5/15/2016
$315,000 Raised
11 Investors

Val Verde Place La Vista, Nebraska

Targeted Avg. Annual Cash Yield
8.2%
Targeted Investor IRR
15.8%
Targeted Investment Period
5 Years
Investment Profile
Core Plus
Closed 5/12/2016
$1,000,000 Raised
25 Investors

Plymouth Meeting Plymouth Meeting, Pennsylvania

Targeted Avg. Annual Cash Yield
10%
Targeted Investor IRR
21.7%
Targeted Investment Period
3 - 5 Years
Investment Profile
Value Add
Closed 5/12/2016
$175,000 Raised
4 Investors
Realized

Alpha Wave Residential Fund II Las Vegas, Nevada

Targeted Avg. Annual Cash Yield
6% - 10%
Targeted Investor IRR
18% - 25%
Targeted Investment Period
5 Years
Investment Profile
Value Add
Closed 5/10/2016
$379,736 Raised
21 Investors

West 107th New York, New York

Targeted Equity Multiple
1.58x / 1.81x
Targeted Investor IRR
14% - 21%
Targeted Investment Period
5 Years
Investment Profile
Value Add
Closed 4/30/2016
$100,000 Raised
3 Investors

490 First Avenue St. Petersburg, Florida

Targeted Avg. Annual Cash Yield
8%
Targeted Investor IRR
19.7%
Targeted Investment Period
5 Years
Investment Profile
Value Add
Closed 4/12/2016
$640,000 Raised
8 Investors

Encore GP Acquisition Fund II Multiple Locations

Targeted Equity Multiple
2.1x
Targeted Investor IRR
18% - 24%
Targeted Investment Period
6 Years
Investment Profile
Opportunistic
Closed 2/23/2016
$405,000 Raised
11 Investors

Ivy at Clear Creek Houston, Texas

Targeted Avg. Annual Cash Yield
10.2%
Targeted Investor IRR
19.6%
Targeted Investment Period
5 Years
Investment Profile
Value Add
Closed 2/12/2016
$900,000 Raised
30 Investors

IntelliStay Boonville Boonville, Missouri

Targeted Avg. Annual Cash Yield
21.2%
Targeted Investor IRR
24.3%
Targeted Investment Period
5 Years
Investment Profile
Value Add
Closed 2/12/2016
$650,000 Raised
4 Investors

Cadence Retail Income Fund Multiple Locations

Targeted Avg. Annual Cash Yield
5.5%
Targeted Investor IRR
15%
Targeted Investment Period
5 Years
Investment Profile
Core Plus
Closed 2/12/2016
$620,000 Raised
14 Investors

100 East Pine Street Orlando, Florida

Targeted Avg. Annual Cash Yield
8.0%
Targeted Investor IRR
17.6%
Targeted Investment Period
5 Years
Investment Profile
Value Add
Closed 2/11/2016
$985,000 Raised
19 Investors

Britannia Business Center I Pleasanton, California

Targeted Equity Multiple
2.20x
Targeted Investor IRR
30.0%
Targeted Investment Period
3 Years
Investment Type
Opportunistic
Closed 1/28/2016
$3,600,000 Raised
1 Investor

1200 Corporate Place Boca Raton, Florida

Targeted Avg. Annual Cash Yield
9.0%
Targeted Investor IRR
14.4%
Targeted Investment Period
5 Years
Investment Profile
Preferred Equity
Closed 1/13/2016
$1,532,681 Raised
36 Investors

Welbrook Santa Monica Memory Care Santa Monica, California

Targeted Avg. Annual Cash Yield
19.2% (upon stabilization)
Targeted Investor IRR
22.1%
Targeted Investment Period
5 Years
Investment Profile
Development
Closed 1/5/2016
$1,100,000 Raised
43 Investors

New Haven Assisted Living Spring, Texas

Location
Houston Metro
Targeted Investor IRR
24.3%
Targeted Investment Period
5 Years
Investment Profile
Development
Closed 1/4/2016
$265,000 Raised
7 Investors

Harrisonburg DoubleTree Harrisonburg, Virginia

Targeted Equity Multiple
2.2x
Targeted Investor IRR
19.5%
Targeted Investment Period
5 Years
Investment Profile
Value Add
Closed 1/2/2016
$825,000 Raised
18 Investors

ABB Corporate Westerville, Ohio

Targeted Avg. Annual Cash Yield
8.0%
Targeted Investor IRR
17.5%
Targeted Investment Period
3 Years
Investment Profile
Core Plus
Closed 1/1/2016
$1,575,000 Raised
9 Investors

Olympus Fund IV Multiple Locations

Targeted Annual Cash Yield
6% (Yrs 1-2), 7% - 9%
Targeted Investor IRR
12% - 13%
Targeted Investment Period
5 - 7 Years
Investment Profile
Core
Closed 11/20/2015
$455,000 Raised
11 Investors

Westmount at Colonnade Grand Prairie, Texas

Targeted Avg. Annual Cash Yield
10.65%
Targeted Investor IRR
18.3%
Targeted Investment Period
5 Years
Investment Profile
Value Add
Closed 11/16/2015
$150,000 Raised
5 Investors

2321 University Blvd Tuscaloosa, Alabama

Targeted Avg. Annual Cash Yield
14.0%
Targeted Investor IRR
19.3%
Targeted Investment Period
5 Years
Investment Profile
Value Add
Closed 11/6/2015
$430,000 Raised
14 Investors

Westmount at Summer Cove Houston, Texas

Location
Houston, TX
Targeted Investor IRR
18.0%
Targeted Investment Period
5 Years
Investment Profile
Value Add
Closed 9/27/2015
$3,250,000 Raised
1 Investor

Diamond Loch Apartments North Richland Hills, Texas

Location
DFW Metro
Targeted Investor IRR
14.0%
Targeted Investment Period
5 Years
Investment Profile
Value Add
Closed 9/23/2015
$550,000 Raised
14 Investors

Ponderosa Ranch fka Sienna Apartments Tempe, Arizona

Location
Tempe, AZ
Targeted Investor IRR
17.0%
Targeted Investment Period
5-10 Years
Investment Profile
Value Add
Closed 8/31/2015
$315,000 Raised
10 Investors

Oak Chase Fort Worth, Texas

Location
DFW Metro Area
Targeted Investor IRR
16.5%
Targeted Investment Period
5 Years
Investment Profile
Value Add
Closed 8/23/2015
$1,200,000 Raised
23 Investors

1380 Garnet Retail Center San Diego, California

Phoinix Capital Partners

Location
San Diego, CA
Targeted Investor IRR
23.7%
Targeted Investment Period
18 Months
Investment Profile
Opportunistic
Closed 7/24/2015
$1,612,000 Raised
30 Investors
Realized

Mainstreet Bloomington Bloomington, Indiana

Location
Bloomington, IN
Realized Investor IRR
14%
Realized Investment Period
2 Years
Investment Profile
Mezzanine Debt
Closed 6/8/2015
$2,083,000 Raised
38 Investors

Timber Oaks Apartments Midlothian, Texas

Location
Dallas Metro
Targeted Investor IRR
17.8%
Targeted Investment Period
5 Years
Investment Profile
Value Add
Closed 6/4/2015
$187,000 Raised
5 Investors

Villas at LeBlanc Park Fort Worth, Texas

Location
Fort Worth, TX
Targeted Investor IRR
19.6%
Targeted Investment Period
4 -5 Years
Investment Profile
Value Add
Closed 4/16/2015
$405,000 Raised
8 Investors

1924 Franklin Oakland, California

Location
Oakland, CA
Targeted IRR
18.1%
Targeted Investment Period
3 Years
Investment Profile
Value Add
Closed 4/3/2015
$686,500 Raised
15 Investors

30 Knightsbridge Rd Piscataway, New Jersey

Target Annual Cash Yield
10.5%
Targeted Investor IRR
10.5%
Targeted Investment Period
5 Years
Investment Profile
Mezzanine Debt
Closed 1/27/2015
$525,000 Raised
7 Investors

Lower Makefield Office Yardley, Pennsylvania

Location
Philadelphia MSA
Targeted Return (IRR)
13.4%
Targeted Investment Period
5 Years
Investment Profile
Core Plus
Closed 9/16/2014