CapRock Partners Management, Inc. (“CapRock” or the “Firm”), a California-based S-Corporation, commenced operations in 2009. CapRock is principally owned and controlled by Gerald Pharris, Patrick Daniels, and Jonathan Pharris. CapRock provides discretionary investment management services to private investment vehicles that are typically structured as limited partnerships (each a “Fund,” and collectively the “Funds”). CapRock’s primary investment strategy is to pursue various types of commercial and value-added real estate investments in the United States, with a particular focus on office and mixed-use properties. In addition to the Firm’s experience in commercial and real estate investments, certain CapRock affiliates have capabilities in commercial development and construction, as well as leasing and property management. CapRock pursues opportunities where the Firm will actively manage acquisitions and create value through the effective entitlement of vacant sites, the development of industrial buildings, unique leasing approaches, appropriate value-added development, strategic lease buyouts, loan restructuring, property renovation, financing strategies, and disposition structures. Generally, the Funds will seek to capitalize on situational real estate opportunities as described in more detail in Item 8. Investment advice is provided directly to each Fund itself and not to the individual investors in the Funds. CapRock tailors its advisory

services to the individual needs of each particular Fund, but not to the individual needs of underlying investors. CapRock manages the Funds in accordance with the investment objectives and limitations set forth in each Fund’s offering memoranda, governing documents, subscription agreements, side letters, and any investment management agreement between CapRock and each Fund (together, “Operative Documents”). In accordance with common industry practice, a Fund or its general partner may from time to time enter into a “side letter” or similar agreement with an investor pursuant to which the Fund or its general partner grants the investor specific rights, benefits or privileges that are not generally made available to all fund investors. CapRock has entered into agreements, commonly known as “side letters,” with certain investors under which CapRock waives or modifies the application of certain investment terms applicable to such investors, without obtaining the consent of any other investor in the Fund (other than an investor whose rights would be materially and adversely affected by the waiver or modification). See “Item 8 – Methods of Analysis, Investment Strategies and Risk of Loss” below for more details. CapRock does not currently participate in wrap fee programs. As of December 31, 2023, CapRock managed approximately $1,597,166,830 of regulatory assets on a discretionary basis. CapRock does not currently manage any assets on a non-discretionary basis.