CP Capital was organized on August 21, 1989 as Real Estate Capital Partners Limited Partnership and was rebranded as HQ Capital Real Estate L.P. in 2015 under the ownership of the HQ Capital Group. In June 2021, affiliates of Concord Pacific (“Concord”) and HB Management (“HB”), entered into strategic agreements to become a majority shareholder of the Firm. The completion of this transaction occurred on August 3, 2021. As a result, HQ Capital Real Estate was rebranded as CP Capital to reflect the new ownership. CP Capital is 90% owned by CPHB RECAP LP, a partnership indirectly owned by affiliates of Concord (75%) and HB (25%), with an affiliate of HQ Capital Group owning the remaining 10%. CP Capital is a specialized, privately held company investing in U.S. real estate and providing investment advisory services to pooled investment vehicles structured as private funds (the “Funds”). CP Capital invests both directly in U.S. real estate and in entities engaged in investing in U.S. real estate. CP Capital creates and manages portfolios consisting of, but not limited to, existing and to-be-built apartment, office, industrial, retail, and mixed-use properties. CP Capital’s worldwide investor base consists of institutions, family offices, and high-net-worth individuals. CP Capital limits its advice to U.S. real estate investments and considers the Funds its clients (“Clients”), as opposed to the investors in those Funds. Unlike the advisory Clients, investors may not impose restrictions on investing in securities or certain types of securities. CP Capital provides investment advisory services to Funds in accordance

with the limited partnership agreement of such Funds or separate investment advisory or investment management agreements. These include a full range of real estate investment advisory services including, but not limited to, selecting, analyzing, and negotiating investments. Clients are represented in all aspects of the acquisition process, including securing financing and the ultimate sale of each investment. Investment advice is provided directly to the Funds, subject to the discretion and control of the applicable general partner, and not individually to the investors in the Fund. For a complete list and additional information about the Funds, refer to our Form ADV Part 1A, Schedule D, Section 7.B.(1) (Private Fund Reporting) available at: www.adviserinfo.sec.gov CP Capital may enter into other agreements with the limited partners that have the effect of establishing additional rights or altering or supplementing the terms of the investment documents (referred to as “side letters”). It is CP Capital’s policy to treat each limited partner fairly, therefore the terms of these side letters are negotiable given each limited partner’s circumstances and the nature of the investment. As of December 31, 2023, CP Capital had regulatory assets under management (“RAUM”) of $0.3 billion on a discretionary basis and managed a total of over $1.0 billion in total project costs. CP Capital currently has 17 employees as of March 28, 2023. Of those, 7 perform investment advisory functions, including investment research.