Building Communities FundHousing FundPreferred Credit FundLending Fund
Fund TypeReal Estate Equity FundReal Estate Preferred Equity FundPreferred Real Estate Credit FundSenior Secured Mortgage Pool Fund
Fund InvestmentPrimarily equity investments into existing single-family and multifamily communities, mobile home and camp communities, and self-storage.Primarily equity investments into existing single-family and multifamily communities, mobile home and camp communities, and self-storage.Loan and preferred equity investment backed by real estate first position, subordinate, mezz, note-on-note finance, and preferred equity, primarily workforce housing assetsSenior mortgages, primarily workforce housing assets
Direct/Indirect SecurityEquity Ownership in Real EstateEquity Ownership in Real EstateNotes Secured by Equity Pledges, Mortgages and Personal Guaranties1st Position Mortgages backed by Real Estate along w/ Personal Guarantees
Fund TermEvergreenEvergreenEvergreenEvergreen
REITNoYesNoYes
QBI (199A) Deduction EligibleYesYes***YesYes***
Distribution FrequencyQuarterly (Pref); Annually (EDC)Monthly (Pref); Annually (EDC)Monthly (Pref); Quarterly (EDC)All Distributions Paid Monthly
Reporting FrequencyQuarterlyQuarterlyQuarterlyMonthly
Targeted Current Distributions8%6%10%9%
Preferred Return8%6%9%8%
Targeted Annual Net Return to Investors11-13%10-12%10-11%9-10%
Average Annualized Return Since Inception8%*26.98%10.73%12.87%
Management Fee (Subordinate to Pref)2.0%**2.0%2.0%2.0%
Annual Investment Rebate For Investments of $1MM+ per account per fund0.50%0.50%0.50%0.50%
Annual Investment Rebate For Investments of $10MM+ per account per fund1.0%1.0%1.0%1.0%
Return Split80/20 upon achieving preferred return80/20 upon achieving preferred return80/20 upon achieving preferred return80/20 upon achieving preferred return
RedemptionsAnnual RedemptionAnnual Redemption90 Day Notice90 Day Notice
Benefits of LeverageYesYesYesYes
Tax Shelter through DepreciationNoYesNoNo
Minimum Investment$200,000$200,000$200,000$200,000
Target Fund Size$1,000,000,000$2,000,000,000$1,000,000,000$2,000,000,000
Tax Reporting MethodK-1K-1K-11099-DIV
Immediate Deployment of Funds (Y/N)YesNo (20-60 days on average)No (15-45 days on average)No (15-45 days on average)
Inception DateOctober 2021January 2020October 2021October 2014
DLP Investment Funds are for Accredited Investors*Annualized Preferred Return **management fee is paid monthly, but subject to claw back***Not subject to phase out

This document is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any interests in the Funds or any other securities.