Co-investment Series.

An Operator Driven Investment Model.

The Firm believes that an operator driven co-investment model with specification, discipline and transparency has the greatest potential to attract private investment capital in the current market.

Burgehall intends to develop a series (Series) of highly specified, closed end co-investment vehicles (CIV) to capitalize on current middle market opportunities in the multifamily sector. Affiliates of the Firm will sponsor each vehicle as its general partner, and act as the asset manager and fiduciary for each vehicle. The Firm intends to partner with select private investors focused on specific property types and investment strategies. Each vehicle will contain a discreet number of assets (e.g., two to five assets), comprised primarily of acquisitions of existing assets and/or redevelopment opportunities. Initially, all investment strategies will include some degree of real value creation, including redevelopment, operational enhancement, and lease up.

The CIV structure allows each party involved to remain focused on their core expertise. The Sponsor will be focused on implementation of the business plan and property operations. The Asset Manager will be focused on acting as a fiduciary for the investor; qualifying operating partners and/or investments, providing proactive asset management to maximize returns, and delivering robust and transparent reporting. Investors remain focused on their own broader investment decisions and management of their overall portfolio. The Firm believes that an operator driven co-investment model with specification, discipline and transparency has the greatest potential to attract private investment capital in the current market.

The Firm is currently in the process of structuring its flagship series of co-investment vehicles:

• BREP I: Institutional (LP). Opportunistic.

• BREP II: High Net Worth (GP). Opportunistic.

• BREP III: Owner-Operator (JV). Opportunistic.

• BREP IV: Various. Special Situations.

Please contact your Burgehall professional for more information.