Real estate investments involve risk, including the potential loss of capital. Risks may include changes in property values, rental income variability, tenant vacancies, unexpected expenses, market conditions, and limited liquidity.

Certain risks differ between individual property investments and the Fund, such as concentration risk for single properties or redemption related risks for the Fund. A detailed description of risks is provided in the relevant offering circulars.

A full description of risks is provided in each offering circular.