(Not available to investors doing business out of the state of New York due to their lending laws).
This is neither an offer to sell nor a solicitation of an offer to buy any securities. An offer to sell securities may be made only by the offeror’s securities offering memorandum, or collectively, a Private Placement Memorandum (“PPM”). You should not rely on any information other than the information in the PPM in purchasing any securities. The specific terms of any proposed investment in the Fund would be set forth in the Subscription Agreement to be entered between the Fund and each investor.
The information contained herein speaks only as of the date hereof and the information may change after such date. Such information also includes “forward-looking statements” within the meaning of the federal securities laws and must be qualified by the numerous cautionary statements listed under “Certain Risk Factors” within a PPM, including specific factors which could cause such forward-looking statements to be incorrect. Many of those factors could cause an investor in the Fund to lose its entire investment. You should rely on your own investigation and the terms of the PPM before making any decision to purchase any securities. The information contained herein is not legal, tax, business, or financial advice. You should consult your legal, tax, business, or financial advisor with respect to your circumstances.
The Net Internal Rate of Return (“IRR”) and Net Equity Multiple returns do not represent the actual results. All IRR values included in this presentation represent annualized returns. An IRR calculation takes into account the length of the time from the initial investment to ultimate realization and, for a given dollar amount realized, the IRR will generally decrease as the investment holding period increases.
The IRR calculations included herein are intended to approximate the “internal rate of return to the investor” as if: (1) the individual properties had been purchased and owned by the Fund, and (2) cash distributions of operating cash flow, refinance and sales proceeds were made (as an estimate) to the investors pursuant to the Fund cash distribution provisions.