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you agree to the following terms:

Confidential Information

The reproduction of this document in whole or in part is prohibited. You are not permitted to make this document, or the information contained herein and/ or the information provided to you to any third parties (other than your professional advisory team).

Preliminary, Selective Information Only

This document is not suitable to inform you of the legal and factual circumstances necessary to make an informed judgment about any prospective investment. Prospective investors are requested to inform themselves comprehensively and, in particular, to verify the contractual documentation which is expected to be provided in the future.

Not an Offer

This document does not constitute an offer to acquire or subscribe for securities, units or other participation rights. It is the responsibility of the recipient of this document to comply with all relevant laws and regulations.

Real Estate Related Risks

Investments in real estate funds such as those described herein, are subject to numerous risks and uncertainties, including risks inherent in private, closed end real estate funds, such as lack of liquidity, lack of diversification, and dependence on key personnel of the fund sponsor as well as risks inherent in the types of investments such funds make, competition for investment opportunities, changes in market conditions, regulatory and environmental risks,

entitlement and development risks, and risks of tenant, purchaser, or seller defaults on contractual obligations. Investors in real estate funds must be able to evaluate and bear the potential consequences of these and other risks, including the potential loss of their entire investment.

Forward Looking Statements

This document contains projected results, forecasts, estimates, targets and other "forward-looking statements" concerning proposed and existing investment funds and other vehicles. Due to the numerous risks and uncertainties inherent in real estate investments, actual events or results, or the actual performance of any of the funds or investment vehicles described, may differ materially from those reflected or contemplated in such forward-looking statements. Accordingly, forward-looking statements cannot be viewed as statements of fact.
The projections presented are illustrations of the types of results that could be achieved in the given circumstances if the assumptions underlying them are met but cannot be relied on as accurate predictions of the actual performance of any existing or proposed investment vehicle.

Third Party Information

This document may contain information in the form of charts, graphs and/or statements that we indicate were obtained by us from published sources or provided to us by independent third parties, some of whom we pay fees for such information. We consider such sources to be reliable. It is possible that data and assumptions underlying such third-party information may have changed materially since the date referenced. You should not rely on such third-party information as predictions of future results. London & Southern Estates, its affiliates

or any third-party source undertakes to update any such information contained herein. Further, London & Southern Estates, its affiliates or any third-party source purports that such information is comprehensive, and, while it is believed to be accurate, it is not guaranteed to be free from error, omission or misstatement. London & Southern Estates and its affiliates have not undertaken any independent verification of such information.
Finally, you should not construe such third-party information as investment, tax, accounting or legal advice.


The statements in this document and/or this presentation are based on information which we consider to be reliable. This document and/ or this presentation does not, however, purport to be comprehensive or free from error, omission or misstatement. We reserve the right to alter any opinion or evaluation expressed herein without notice.
Liability for all statements and information contained in this document and/or this presentation is, to the extent permissible by law, excluded. Individual images may belong to third parties and may not be reproduced in any way.