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CA Sales Territory 02-2025

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2500 Sand Hill Road, Suite 320
Menlo Park, CA 94025
800.242.1000

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^{This website is not an offer to sell, or a solicitation of an offer to buy, securities. Offers can only be made through the Confidential Private Placement Memorandum for the Offering, as it maybe amended or supplemented from time to time. DST Units may be sold only to “accredited investors,” as defined in Regulation D under the U.S. Securities Act of 1933, as amended (the “Securities Act”), which, for natural persons, refers to investors who meet certain minimum annual income or net worth thresholds. Investors must also be residents of the State of California. DST Units are being offered in reliance on exemptions from the registration requirements of the Securities Act and the laws of any U.S. State or non-U.S. jurisdiction, and are not required to comply with specific disclosure requirements that apply to registration under the Securities Act. Neither the U.S. Securities and Exchange Commission nor any other regulatory authority has passed upon the merits of an investment in the DST Units, has approved or disapproved of the DST Units or passed upon the accuracy or adequacy of the offering materials describing the securities. The securities are subject to legal restrictions on transfer and resale in accordance with the governing documents of the Delaware Statutory Trust and applicable securities laws, and investors may be unable to sell or transfer their DST Units. In addition, there is no public market for the DST Units and no such market is expected to develop in the future. Investing in the DST Units involves risk, and investors should be able to bear the loss of their investment. This website does not purport to be complete and should be viewed in conjunction with the Private Placement Memorandum. An investment in DST Units of this sort is speculative and involves substantial investment and tax risks as further described in the Confidential Private Placement Memorandum. Projections of future performance contained herein are based on specific assumptions discussed more fully in the Confidential Private Placement Memorandum and do not constitute a guaranty of future performance.}

^{(1) An investment in the DST Units is speculative and involves substantial investment and tax risks. There are no guarantees of cash flow, distributions or real estate appreciation. Investors could lose some or all of their investment in the DST Units. Investors are advised to review the Confidential Private Placement Memorandum in its entirety and consult with their own legal, tax, financial and business advisors prior to investing.}