Primestor Investment Management LLC

Item 5. Fees and Compensation

Management Fee

The specific terms of such arrangements are set forth in the Offering Documents of the respective Funds.

For its services in managing the private investment funds, the Funds pay Primestor a fee (“Management
Fee”), calculated separately with respect to each Limited Partner. From the Initial Closing until the end of
the Investment Period, the Management Fee with respect to each Limited Partner equals a percentage of
such Limited Partner’s committed capital. Thereafter, the Management Fee with respect to each Limited
Partner equals a percentage of such Limited Partner’s invested capital (including, where applicable, the
amount of any capitalized Acquisition Fees, as defined below). The Management Fee is paid quarterly in
advance. The co-investment funds’ management fees are calculated as a percentage of each Limited
Partner’s committed capital.

Please refer to each Fund‘s offering documents (“Fund Offering Documents”) for complete details of the
respective Fund’s Management Fees.

Investment Level Fees

Certain Investment Level Fees (as defined in the Funds’ Offering Documents) related to the management
of the Funds’ investments, as described below, are paid by the Funds, or the underlying Funds’
investment(s). Such services will often be performed by affiliates of the Firm. Primestor has drafted
policies to ensure that the fees borne by the Funds do not exceed the market rate and continue to be in
the best interests of the Funds.

Development Fees. Typically, a Primestor affiliate will serve as the development manager with respect to
a Fund investment, in which case it will be entitled to receive development fees with respect to such
investment equal to a percentage of project costs.

Construction Management Fees. Typically, a Primestor affiliate will provide construction management
services for a Fund investment and will be entitled to receive construction management fees with respect
to such investment equal to a percentage of “Hard Costs” (as defined in the Fund Offering Documents).

Property Management Fees. Typically, a Primestor affiliate will serve as property manager with respect to
a Fund investment, in which case it will be entitled to receive property management fees with respect to
such investment equal to a percentage of the gross revenue.

Leasing Commissions. Typically, a Primestor affiliate will provide leasing brokerage services with respect
to a Fund investment and will be entitled to receive commissions with respect to such investments.

Tenant Coordination. Typically, a Primestor affiliate will provide tenant coordination services with respect
to a Fund investment and, for each tenant lease, will be entitled to a fee based on rentable square feet,
not to exceed forty thousand dollars ($40,000) for any single space.

Acquisition Fees. Investment Level Fees will also include an “Acquisition Fee” that will be paid to a
Primestor affiliate, upon the acquisition of each acquired/ground leased asset by the Funds, whether

directly or indirectly through the acquisition of a mortgage loan on such asset or otherwise. Certain Funds
may not be subject to paying Acquisition Fees for “off market” acquisitions, as further described in the
applicable Fund Offering Documents.

As described above, following the end of the Investment Period, Primestor’s Management Fee is
calculated as a percentage of Limited Partners’ invested capital. Acquisition Fees are capitalized as part of
an investment’s cost basis and, as a result, increase the invested capital based on which Management
Fees are calculated. Accordingly, Primestor and its affiliates have an incentive to structure and allocate
Acquisition Fees in a manner that results in their capitalization, which increases the base for future
Management Fees. This incentive conflicts with Primestor’s interest in limiting the overall fees, expenses,
and costs borne by the Funds’ investments, which may reduce investment returns, and in turn, the Carried
Interest or Incentive Distribution received by the Firm, as defined below.

Primestor and its affiliates may enter into side letters or similar arrangements with certain Limited
Partners that provide such Limited Partners with preferential terms, including, but not limited to, reduced
or waived Management Fees and/or Investment Level Fees, fee offsets, or other economic or governance
rights. As a result, such Limited Partners may pay lower fees or bear fewer expenses than other Limited
Partners in the same fund, which may increase the relative costs borne by Limited Partners that do not
receive such preferential terms.

For further details on the above discussed Investment Level Fees, please refer to the Funds’ Offering
Documents for complete details.

Expenses

To the extent applicable, the Funds will pay or reimburse the General Partner, Primestor or an affiliate
thereof or any of their respective officers, directors, employees, members, partners, shareholders, agents
or trustees (as applicable), for all costs, fees and expenses incurred by or on behalf of the Funds in
connection with its management and operation, including but not limited to: (a) all costs, fees and
expenses of the General Partner related to the investigation, purchase, financing, refinancing, operating,
managing, developing, leasing, sale, preservation or retention of property or mortgages, by the Funds
(including all fees and commissions of brokers and custodians, research expenses, travel costs, all fees
and expenses relating to the recordation and qualification for sale of such properties or mortgages and all
transfer taxes); (b) all federal, state and local taxes and filing fees payable by the Funds (other than
withholding or other taxes, including “imputed underpayments,” that are allocable to a Partner, as
determined in the sole discretion of the General Partner); (c) all costs, fees and expenses relating to
...

Item 7. Types of Clients

As noted in Item 4 above, Primestor provides investment advice to the Funds.

The Funds are private investment vehicles that qualify for an exclusion from the definition of “investment
company” under Section 3(c)(1), 3(c)(7), and/or 3a-7 of the Investment Company Act and are organized
in both the United States and internationally.

The Funds’ Limited Partners will be limited to individuals and entities that meet certain suitability criteria
to persons who are “accredited investors” (within the meaning of Regulation D (“Regulation D”) under
the Securities Act of 1933, as amended (the “Securities Act”)) and “qualified clients” (as defined in the
Investment Advisers Act of 1940, as amended (the “Advisers Act”)). The General Partner has the right to
reject, in its sole and absolute discretion, any or all subscriptions in whole or in part. The Funds are
marketed exclusively to investors that may include, without limitation, high-net worth individuals, family
offices, fund of funds, endowments, pension funds and other investment advisers.

An investment in one or more Fund should be based on a prospective investor’s careful analysis of its
overall portfolio and its own objectives and needs in the areas of diversification, liquidity, return on
investment, and risk management.

The minimum commitment by any one investor to a Fund is five million ($5,000,000). However, the Fund
may accept commitments of lesser amounts at the discretion of the General Partner.