Maverick Real Estate Partners LLC

Item 5. Fees and Compensation

A. Advisory Fees and Compensation

The agreements governing the Funds, such as the confidential private placement memorandum, the limited
partnership agreement (or the relevant constituent document) and the investment advisory agreement
(collectively, the “Offering Documents”), which were provided to Fund investors prior to their commitment
or investment in the Funds, contain detailed information about the Adviser’s fees.

The Adviser receives an asset-based management fee from each Fund ranging from 0% to 2% per annum
for its services (the “Management Fee”), as further described in the Funds’ Offering Documents. The
Management Fee is generally paid quarterly in advance or at such other frequency as agreed to between
the Adviser and the relevant Fund. To the extent that any installment of the Management Fee is payable
to the Adviser for any period other than a full fee period, such installment shall be prorated based on the
number of days in such fee period. The Management Fee is reduced or waived entirely for certain investors,
as provided for in the Offering Documents.

In addition to the Management Fee, the Adviser (or its affiliate) receives a carried interest allocation (the
“Carried Interest”) entitling it to 20% of a Fund’s profit as further described in the Funds’ Offering
Documents. The Carried Interest is reduced or waived entirely for certain investors, as provided for in the
Offering Documents.

B. Payment of Fees

The Adviser deducts the Management Fee on a quarterly basis.

C. Other Fees and Expenses

In addition to paying Management Fees and Carried Interest, Client accounts will also be subject to other
expenses in accordance with the Fund’s Offering Documents such as (a) administrative expenses related
to the operation of a Fund, including the fees and expenses of accountants, lawyers (including related
litigation, mediation and settlement costs), third-party administrators and other professionals and service
providers incurred in connection with a Funds’ operational and investment activities and the Funds’ annual
audit, data acquisition, data processing, and database building and management, investment-level
management and servicing, portfolio management, recordkeeping, legal, compliance, financial reporting,
investor reporting, legal opinions, tax planning, tax projections, tax strategy and tax return preparation, as
well as the expenses associated with the preparation and distribution of reports and financial statements,
expenses associated with fundraising and marketing and expenses associated with a Fund’s limited partner
advisory committee meetings; (b) fees, costs and expenses, if any, incurred in evaluating, researching,
negotiating, structuring, underwriting, acquiring, appraising, financing, refinancing, or otherwise dealing with
investments pursued for a Fund (whether or not the Fund actually acquires such investments), including
meals and travel costs, legal (including without limitation litigation expenses relating to foreclosure on
properties collateralizing a Fund’s investments, bankruptcy proceedings of borrowers, and other legal fees
and expenses), due diligence, data services fees and costs, consultant costs, investment banking, financing
costs, reporting, projections, valuation, tax and accounting expenses and other fees and out-of-pocket costs
related thereto; (c) fees, costs and expenses, if any, with respect to rendering financial assistance to or
arranging for financing for a Fund, any subsidiary thereof or a Fund’s investments; (d) fees, costs, expenses
and retainers paid to third party consultants/advisors, and for research reports and consultations (including,
without limitation, expert consultants and third-party consultants/advisors), expenses incurred in accessing,
analyzing, managing or storing statistical data, market data and data feeds generally, portfolio management
and risk analytics and software, including, without limitation, third party electronic data storage and
processing related to research; (e) fees, costs and expenses, if any, incurred in relation to the acquisition,
holding, custody, developing, monitoring, management, appraising, financing, refinancing, disposing of or
otherwise dealing with investments, including any real estate tax payments, third party property
management, travel, legal, audit, data services and costs, financing, appraisal, insurance, consulting,
custodial, brokerage, inspection, indemnification and accounting expenses, expenses incurred in the
collection of monies owed to a Fund and other fees and out-of-pocket expenses related thereto; (f) interest
expenses, making temporary investments, brokerage commissions, dead-deal costs and other investment
costs incurred by or on behalf of a Fund; (g) fees, costs and expenses incurred in organizing, forming and
maintaining any alternative investment vehicles or subsidiaries or any other entity formed to facilitate a
Fund’s investment objective and all fees, costs and expenses incurred in connection with the offering of
interests following a Fund’s initial closing date; (h) taxes, fees and other equivalent government charges
levied against a Fund or a special purpose vehicle formed by a Fund, any investment or the income thereof,
fees of auditors, counsel and other advisors of a Fund, premiums for insurance protecting a Fund, a Fund’s
general partner, the Adviser and any other indemnified parties, premiums for any key person’s life
insurance, and any litigation costs of a Fund; (i) indemnification expenses incurred pursuant to a Fund’s
partnership agreement or related to any investment of a Fund and any other extraordinary administrative
or operating fees or expenses; (j) the costs of compliance with applicable laws and regulations of
governmental and self-regulatory bodies having jurisdiction over a Fund, a Fund’s general partner, the
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Item 7.      Types of Clients

The Adviser’s Clients consist of the Funds. An investment in a Fund can be subject to a prescribed
minimum investment amount unless otherwise waived. Such minimum amount is disclosed in the Offering
Documents for the particular Fund.