Ddelta Real Estate Investments Inc

Item 5 Fees and Compensation
Compensation
Ddelta will typically be compensated for our advisory services for the Funds, through the agreement
with the GPs of such Funds, in one of the following ways:

1. Management Fees: The Funds’ investors are charged an annual management fee that can range
from 0% to 2.00% of aggregate capital commitments to a Fund during the investment period and then
of invested capital until the Fund is fully liquidated. The GP may elect to waive a portion or all of a
Fund investor’s management fee and Ddelta or its subsidiaries may not be charged a management fee
with respect to their commitments or invested capital. Management fees are typically paid quarterly in
advance and deducted from the Fund’s account. If there are insufficient assets, the GP will determine
whether to issue a capital call notice to investors pursuant to each Fund’s PPM. Management fees are
generally not refundable, absent certain circumstances described in the Fund’s limited partnership
agreement;

2. Acquisition Fee: The Funds or the Funds’ special purpose entities (“SPEs”) pay the GPs or its

subsidiaries a one-time fee that can range from 0% to 2.00% of a property’s total acquisition cost for its
efforts in identifying and acquiring each property.

3. Origination Fee: The Funds’ SPEs pay the GPs or its subsidiaries a one-time fee that can range
from 0% to 3.00% of the Funds’ total equity contribution to each SPE for its capital-raising efforts to
finance the purchase or development of new properties. The fee is negotiable as it relates to approval
from the project developer.

4. Performance-Based Compensation: In addition to the management fee, Ddelta or its subsidiaries
may also be paid performance-based compensation as more fully described in “Item 6 – Performance
Based Fees and Side-by-Side Management.”

Additional Fees and Expenses
Investors in the Funds typically bear their pro rata share of fees, costs and expenses incurred in the
organization, operation, and administration of the Fund (the “Fund Expenses”). Fund Expenses are
described in the private placement memorandum and/or limited partnership agreement for each
respective Fund.

Organizational costs and expenses borne by the Funds include, legal, accounting and other
professional costs and out-of-pocket expenses including travel expenses related to the offering of the
applicable Fund’s interests (but excluding any costs or fees payable to placement agents assisting with
the sale of such Fund’s interests). A Fund’s private placement memorandum and/or limited partnership
agreement may cap the amount of organizational expenses borne by such Fund and any
organizational expenses exceeding such cap may offset the management fee payable to such Fund’s
investment manager.

Operational and administrative expenses borne by a Fund include (but are not limited to) (a) the
organization of alternative investment vehicles, (b) all legal, accounting, custodial, and third-party
consulting fees for services rendered to or for the benefit of the Fund, (c) all expenses, costs, and
liabilities incurred in connection with the identifying, structuring, negotiating, purchasing, owning,
developing, improving, managing, monitoring, readying for sale, servicing, sale, proposed sale, other
disposition, or valuation of investments and temporary investments considered for the Fund (including
research (including the cost of subscription services used in conducting research), and due diligence in
connection therewith), including, but not limited to, travel and entertainment expenses incurred in
connection with the foregoing, conference registration expenses incurred in connection with the
foregoing, membership fees, costs and expenses for organizations that provide research and
educational materials in connection with the foregoing, fees, costs and expenses relating to
conferences held for operating partners, legal fees and expenses, filing fees and expenses, accounting
fees and expenses, audit fees and expenses, third party consulting fees and expenses (including fees
and expenses related to services from commercial real estate information companies), fees and
expenses related to software or any asset management software, and other fees and expenses (to the
extent not subject to reimbursement), (d) costs and liabilities incurred in connection with litigation or
other extraordinary events, directors and officers liability and other insurance and indemnity expenses,
(e) all taxes, fees and other governmental charges payable by a Fund, expenses incidental to the
transfer, servicing and accounting for a Fund’s cash and securities, including all charges of
depositories and custodians, and all expenses incurred by the tax matters partner, or a similar role
under applicable state or local tax law, (f) communications expenses, (g) all expenses and costs
associated with limited partner meetings, (h) all expenses and costs of a Fund’s advisory board, (i)
brokerage commissions, custodial expenses, appraisal fees, and other investment costs actually
incurred in connection with actual investments and temporary investments; (j) technology, hardware,
consulting, and software expenses related to the development and maintenance of a Fund’s specific
trading and valuation models and systems, (k) expenses of liquidating the Fund and its subsidiaries, (l)

expenses incurred in connection with maintaining a Fund’s books of account and the preparation of
audited or unaudited financial statements required to implement the provisions of the Partnership
Agreement or by any governmental authority with jurisdiction over the Fund (including fees and
expenses of independent auditors, accountants and counsel, the costs and expenses of preparing and
circulating reports and any fees or imposts of a governmental authority imposed in connection with
such books and records and statements) and other routine administrative expenses of the Fund or its
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Item 7 Types of Clients
Ddelta’s clients are the Funds, which are investment funds that are offered in private placements to
investors that include institutions, fund of funds, family offices, and accredited investors.

Some of the Funds require investors to make a minimum commitment amount of $1,000,000. Such
minimums may be waived at the discretion of the GP of the applicable Fund.