Velocis Management, LLC (“Velocis” or the “Adviser”) was co-founded by W. Frederick (Fred) Hamm, Michael (Mike) Lewis, and James (Jim) Yoder in 2010 as a Delaware limited liability company with a principal place of business in Dallas, Texas. The senior management team of Velocis is comprised of Mr. Hamm, Mr. Lewis, Mr. Yoder, Paul Smith and David Seifert, who all hold an equity interest in the Adviser. Velocis acts as the investment adviser to private real estate secondary investment funds (collectively, the “Funds”). The Funds are privately offered real estate secondary investment vehicles that are structured as Delaware limited partnerships, each managed by a General Partner (“General Partner”) which is an affiliate of the Adviser. The Funds may be referred to as Clients (each a “Client”) throughout this document. Velocis is a private equity real estate investment manager whose investment advisory services consist of investments in other private funds with real estate focus through the secondary market and select non-controlled real estate investments. Velocis is a large real estate investor, and a sub-set of its activities are investment advisory services. Velocis investment advisory activities seek to generate attractive, risk-adjusted opportunistic returns by constructing a diversified real estate portfolio across a range of geographies, property types, strategies, and vintage years via equity interest acquisitions and General Partner-led liquidity-driven transactions in real estate funds and real estate assets. Velocis provides discretionary investment services to private funds that are exempt from registration under the Investment Company Act of 1940, as amended (“1940 Act”), and whose securities are not registered under the Securities Act of 1933, as amended (“Securities Act”). Each fund is generally structured as a limited partnership with an affiliated entity to Velocis serving as General Partner. Separate

from the investment advisory services Velocis provides to its Clients, Velocis also provides investment selection, execution, and management services to privately offered partnerships (or similar legal entities) which invest exclusively in controlled real estate investments (collectively, the “Real Estate Funds”). Because the Real Estate Funds only invest in or own real assets, such entities do not invest in securities or receive investment advisory services from Velocis (meaning they are not “clients” for purposes of the Advisers Act) and the value of such Real Estate Funds or their investments are not included in Velocis’ calculation of regulatory assets under management disclosed below. Velocis provides discretionary investment advisory services based on each Fund’s investment guidelines as outlined in each fund’s operative documents. Velocis tailors its investment advisory services to each private fund. However, Velocis does not tailor its advisory services to the individual needs of the private fund investors, (“Investors” or “Limited Partners”) and such investors may not impose restrictions on investing in certain securities or types of investments. Additionally, Velocis at its discretion has entered and may enter into additional agreements, or “side letters,” with Fund investors whereby such investors may be subject to terms and conditions that vary from or are more advantageous than those applicable to other investors. Persons reviewing this Brochure should not construe this Brochure as an offering of any of the Funds described herein, which will only be made pursuant to delivery of a confidential offering memorandum to prospective eligible investors. Velocis does not participate in wrap fee programs. As of December 31, 2023, the Adviser managed approximately $268,390,240 in regulatory assets under management on a discretionary basis. Velocis does not manage any advisory client assets on a non-discretionary basis.