*A special reduced commitment fee (or upfront fee) rate is available during the promotional period for certain qualifying investments. Any rate reductions are specified in the applicable investment documents signed by you and the fund general partner at the time of your commitment. This is a limited special promotion subject to withdrawal, modification and/or amendment at Cadre’s sole discretion.
** By investing in the Fund at its first closing you are able to participate in investments at their cost without paying preferred interest and before any updates to asset values
1 Fund term is targeted for 8 years from the final closing date (subject to extension options).
2 IRR calculation represents an equity-weighted average annualized internal rate of return (IRR) for realized real estate investments of offerings by Cadre since the formation of our Investment Committee through to the date of calculation, after deduction of fees and expenses. Equity multiple represents the investment multiple on equity, which is calculated by dividing the aggregate realized proceeds for the applicable investment after deduction of fees and expenses. For recently realized investments, an estimate of proceeds to vehicles managed by Cadre may be used. The use of a different methodology may result in a materially different return metric. As of 6/15/2022, our realized investments consist of: (1) Astoria Portfolio, a 143-unit multifamily asset in Queens, NYC, acquired January 2015, with a realized net IRR of 16.2% and a net equity multiple of 1.4x, (2) Sugarloaf trails, a 268-unit multifamily asset in Suburban Atlanta, acquired April 2017, realized net IRR of 27.4% and net equity multiple of 1.8x, (3) Skyridge Apartments, a 364-unit multifamily asset in suburban Chicago, acquired November 2016, with a realized net IRR of 15.0% and net equity multiple of 1.4x, (4) Avida, 421-unit multifamily project, located in Salt Lake City UT, acquired August 2017, realized net IRR of 16.8% and realized net equity multiple of 1.4x, (5) Crestleigh Apartments, a 389-unit multifamily asset in Laurel, MD, acquired September 2016, with an updated target net IRR of 10.2% and a net equity multiple of 1.6x, (6) Trails Portfolio, two multifamily properties totaling 810 units in Houston, TX, acquired January 2018, with an updated target net IRR of 22.4% and a net equity multiple of 2.0x, (7) Solis at Winter Park, a 596-unit multifamily asset Winter Park, FL, acquired, September 2018, with an updated target net IRR of 18.1% and a net equity multiple of 1.7x, (8) Lodge at Copperfield, a 330-unit multifamily asset in Houston, TX, acquired November 2018, with a updated target net IRR of 21.8% and a net equity multiple of 1.9x, (9) Lincoln Place, a multifamily asset in Sacramento, CA, acquired July 2018, with a updated target net IRR of 22.0% and a net equity multiple of 1.9x, (10) Key West Crossings, a life science asset, acquired August 2020 with an updated target net IRR of 40.2% and a net equity multiple of 1.8x and (11) 10 West Commerce, an industrial asset, acquired February 2021 with an updated target net IRR of 67.3% and a net equity multiple of 2.1x
3 Diversification does not guarantee a profit or protect against a loss in a declining market. It is a method used to help manage investment risk.
4 The Cadre MVP is a list of metropolitan statistical areas periodically identified by Cadre as commercial real estate markets with strong potential for risk-adjusted returns. The Cadre MVP is developed through a combination of quantitative and qualitative analysis, including predictive analytics and on-the-ground intel. Quantitative analysis involves forecasting two-year growth projections for each market and asset class based on various variables known to drive market appreciation including but not limited to population growth, employment, rent growth, new construction, and occupancy. Qualitative analysis involves a review of quantitative data by our industry experts. There is no guarantee that an investment in a Cadre MVP market will be successful. The 2022 vintage represents 18 unique MSAs identified for their potential to outperform across multifamily, office, and/or industrial asset classes.
5 This presentation is not to be construed as investment, tax or legal advice in relation to the relevant subject matter; potential investors must seek their own legal or other professional advice.
6 CoStar, as of July 2022; American Hotel & Lodging Association and Kalibri Labs, as of January 2022
7 CoStar as of July 2022
8 CoStar, July 2022
9 CoStar, July 2022; YoY data based on Q2 2022 results
10 Please see appendix “REIT Investors Benefit from Tax-Advantaged Distributions” for more information and disclosures. Data as of 6/30/2022. 
11. Tax Cuts and Jobs Act, Provision 11011 Section 199A.
Cadre Cash: Cadre Cash LLC offers Cadre Cash which facilitates the opening and managing of Cadre Cash Accounts. Neither Cadre Cash LLC nor Cadre is a bank. Banking services provided by Evolve Bank & Trust (“Bank”), Member FDIC.
Performance Not Guaranteed: Past performance is no guarantee of future results. Any historical returns, expected returns, or probability projections are not guaranteed and may not reflect actual future performance.
Risk of Loss: All securities involve a high degree of risk and may result in partial or total loss of your investment.
Liquidity Not Guaranteed: Investments offered by Cadre are illiquid and there is never any guarantee that you will be able to exit your investments on the Secondary Market or at what price an exit (if any) will be achieved.
Not a Public Exchange: The Cadre Secondary Market is NOT a stock exchange or public securities exchange, there is no guarantee of liquidity and no guarantee that the Cadre Secondary Market will continue to operate or remain available to investors.
Private Securities: Any securities offering is private and you may be required to verify your status as an ‘Accredited Investor’ to participate. No securities commission or regulatory authority has recommended or approved any investment or the accuracy or completeness of any of the information or materials provided by or through us. Please refer to the investment opportunity and memorandum for additional information and disclaimers.
© Cadre. Broker-dealer services in connection with an investment are offered by RealCadre LLC, a broker/dealer registered with FINRA and a member of SIPC. Information on all FINRA-registered broker-dealers can be found on FINRA’s BrokerCheck. Banking services are provided by Synapse’s bank partners, Members FDIC

This presentation has been prepared by CCV LLC, an investment adviser registered with the SEC (“CCV”) for purposes of discussing a potential product opportunity with select institutional investors only.  The presentation is intended for the sole use of institutional investors. Any person who is not an institutional investor should not act or rely on this information.  Institutional Investor, as used in this presentation and on the covering disclaimer, is intended to mean a person or entity that at minimum satisfies the definition of “Institutional Investor” as such term is defined in Financial Industry Regulatory Authority’s (FINRA) Rule 2210.

‍This presentation was prepared on the basis of information obtained by a variety of sources, some of which may be public, as of the specified date. No duty is undertaken to update the information. No party is making any representation, warranty or guarantee, whether express or implied, that the information contained in this presentation or otherwise supplied to the recipient, at any time whether in writing or not, relating to the opportunity discussed herein is complete or accurate or that it has been or will be audited or independently verified, or that reasonable care has been taken in compiling, preparing or furnishing the information. This presentation is not intended to be exhaustive and, in particular, may not contain disclosure of all of the risks associated with the opportunity; potential investors must perform their own examination and inspection of the opportunity and information relating to same, and shall rely solely on such examination and investigation and not on this presentation or any materials, statements or information contained herein or otherwise provided.

All of the statements in this presentation represent beliefs and opinions as of the date hereof, should not be relied upon as statements of fact and may constitute forward-looking statements that are not historical facts. These forward-looking statements include statements, express or implied, regarding the current expectations, opinions and beliefs, as well as the assumptions on which those statements are based. Words such as “believes,” “estimates,” “expects,” “endeavors,” “anticipates,” “intends,” “plans,” “targets,” “should” and “objective” and variations of such words and similar words also identify forward-looking statements. Such statements are forward-looking in nature and involve a number of known and unknown risks, uncertainties and other factors, including those described in this presentation.  Any forward-looking statement, including any target return, contained in this presentation is not a guaranty, assurance or representation by any party or person as to future matters and nothing contained herein should be relied upon as a guaranty, assurance or representation as to future matters.

Any forecast operating metrics or similar metrics presented herein represents underwriting criteria used to analyze investment opportunities and is provided for illustrative purposes on how the Fund is being underwritten and once it is owned how it will be managed and does not represent a projection returns to investors.  Such metrics are based upon certain assumptions, many of which can be material. An investment has a high degree of risk, and there can be no assurances that all or any of the assumptions will be true or that actual performance will bear any relation to estimates. The estimates and other pro forma data set forth in this presentation were not prepared with a view toward compliance with U.S. Generally Accepted Accounting Principles or any other published standards. Estimates and other pro forma data are derived from estimates, as of the date of this presentation, based on certain assumptions, which are inherently subject to significant business, economic and competitive uncertainties and contingencies. Summaries of any documents about the opportunity discussed herein are not intended to be comprehensive or all inclusive, but rather only outline some of the provisions contained therein and are qualified in their entirety by the actual document to which they relate.

Historical information is provided for informational purposes only. Past performance of other projects is not indicative of any result with respect to the Fund.  This presentation is not to be construed as investment, tax or legal advice in relation to the relevant subject matter; potential investors must seek their own legal or other professional advice.

THIS PRESENTATION DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY SECURITY.  Interests in the Fund are only suitable for ‘Accredited Investors’ (as defined in applicable SEC regulations) who are familiar with and willing to accept the high risk associated with private investments. Investing in private placements requires high-risk tolerance, low-liquidity concerns and long-term commitments. Investors must carefully consider their investment objectives along with the risks, charges, expenses and other factors of any investment product prior to investing. The information in this presentation is confidential and is furnished solely for the purpose of review in connection with the potential product opportunity discussed herein. Any decision to invest should be made after reviewing the entirety of an investment memorandum and legal agreements and conducting such investigation as the investor deems necessary (including consulting the investor's own legal, accounting and tax advisors). The information is not to be used or reproduced for any other purpose or distributed or made available to any other person. The opportunity is subject to prior placement and withdrawal, change, cancellation or modification, all without notice.