INSTITUTIONAL INVESTORS

Custom, fee-
efficient private
real estate
portfolios.

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Efficient access to curated dealflow.

Cadre’s investment platform is designed to deliver compelling risk-adjusted returns with the potential for liquidity on a quarterly basis.

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trials investment

Performance that
speaks for itself.

OUR PERFORMANCE AS OF 12/1/2022
$4.0B+
Total Transaction Value1
27.6%
Historical Rate of Return2
$461.8M+
Gross Distributions to Investors3
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Exited Investments
solis of winter park
Solis at Winter Park
Winter Park, FL  •  Multifamily
Size
596 unit
Acquisition Date
Sep 2018
Sold Date
Oct 2021
Purchase Price
$79M
Sale Price
N/A
Underwritten Net IRR
11.2%
Targeted Realized Net IRR
18.1%
Net Equity Multiple
1.7x
trails location
Trails Portfolio
Houston, TX  •  Multifamily
Size
810 unit
Acquisition Date
Jan 2018
Sold Date
Sep 2021
Purchase Price
$73M
Sale Price
N/A
Underwritten Net IRR
11.4%
Targeted Realized Net IRR
22.4%
Net Equity Multiple
2.0x
crestleigh location
Crestleigh Apartments
Laurel, MD  •  Multifamily
Size
389 unit
Acquisition Date
Sep 2016
Sold Date
Sep 2021
Purchase Price
$56M
Sale Price
$74.3
Underwritten Net IRR
14.5%
Targeted Realized Net IRR
10.2%
Net Equity Multiple
1.6x
Astoria location
Avida
Salt Lake City, UT  •  Multifamily
Size
400 unit
Acquisition Date
Aug 2017
Sold Date
Dec 2019
Purchase Price
$67M
Sale Price
$87M
Underwritten Net IRR
11.0%
Realized Net IRR
16.8%
Net Equity Multiple
1.4x
skyridge location
Skyridge Apartments
Chicago, IL  •  Multifamily
Size
364 unit
Acquisition Date
Nov 2016
Sold Date
Sep 2019
Purchase Price
$51M
Sale Price
$65M
Underwritten Net IRR
12.0%
Realized Net IRR
15.0%
Net Equity Multiple
1.4x
sugarloaf location
Sugarloaf Trails
Atlanta, GA  •  Multifamily
Size
268 unit
Acquisition Date
Apr 2017
Sold Date
Sep 2019
Purchase Price
$31M
Sale Price
$44M
Underwritten Net IRR
13.3%
Realized Net IRR
27.4%
Net Equity Multiple
1.9x
Astoria location
Astoria Portfolio
Queens, NY  •  Multifamily
Size
4 buildings
Acquisition Date
Jan 2015
Sold Date
Apr 2017
Purchase Price
$48M
Sale Price
$72M
Underwritten Net IRR
15.1%
Realized Net IRR
16.2%
Net Equity Multiple
1.4x
Lincoln Place
Sacramento, CA  •  Multifamily
Size
240 units
Acquisition Date
Jul 2018
Sold Date
Mar 2022
Purchase Price
$35M
Sale Price
N/A
Underwritten Net IRR
10.9%
Targeted Realized Net IRR
22%
Net Equity Multiple
1.9x
Lodge at Copperfield
Houston, TX •  Multifamily
Size
330 units
Acquisition Date
Nov 2018
Sold Date
Mar 2022
Purchase Price
$39M
Sale Price
N/A
Underwritten Net IRR
11.1%
Targeted Realized Net IRR
21.8%
Net Equity Multiple
1.9x
Are you a registered investment advisor? Learn how Cadre can partner with you.
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Looking for diversification or value investing opportunities?  Learn about Cadre Funds
and the Cadre Secondary Market.

Institutions benefit from our:
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OPTIMIZATION
CUSTOMIZATION
TRANSPARENCY
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Optimize alpha through tech efficiencies.

Data science and machine learning tools fuel Cadre’s fee efficient real estate investment solutions, from separate accounts to funds. Our tech-driven platform helps institutions search for alpha cost-effectively, across broad or niche private real estate strategies.
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Control your investment horizon.

Asset liability matching and portfolio rebalancing on demand: Cadre’s groundbreaking pool of liquidity offers institutional investors the potential to exit private real estate investments on a quarterly basis.
‍

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.
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Granular insights into assets at all times.

Cadre uses proprietary data science tools to compile comprehensive, transparent details on each asset we offer for investment. Performance reporting, updates, and analytics are available 24-7 for investors on our platform.

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Diversity is central to our mission.

Cadre is a minority-owned, minority-led investment manager. Our diversity, equity, and inclusion (DEI) strategy is core to all we do, and includes initiatives to:
‍

Allocate investment capital to back minority-owned real estate operating partners.

Desposit corporate cash with minority-owned depository institutions.

Partner with minority-owned banks to participate in financing our properties.

Maintain a consistent number of affordable rental units for families within our multifamily properties.

Our mission is to make commercial real estate more accessible, transparent, and affordable to a greater number of investors.

Cadre serves top institutional clients, including:

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Next-generation approach to
real estate investing.
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Founder and CEO Ryan Williams shares how Cadre is transforming the real estate industry with Bill Lewis, Board of Directors, Harvard Management Company and Managing Director & Co-Chairman of Investment Banking, Lazard.

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institutional investors.

Connect with Cadre to invest.

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Footnotes

1

Total transaction value represents the underwritten peak all-in cost of real estate investments included in offerings by Cadre since the formation of our Investment Committee (including realized investments).

2

Data as of December 1st, 2022. IRR calculation represents an equity-weighted average annualized internal rate of return (IRR) for all single-asset realized real estate investments of offerings firm-wide by Cadre since the formation of our Investment Committee on March 31, 2016 through to the date of calculation, after deduction of fees and expenses. Calculations assume no fee breaks or concessions were applied to any underlying offering. 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. Realized and updated target returns are inclusive of all of Cadre’s completed dispositions. Realized returns are subject to change following final distributions on sold assets. Calculations are generally made as of the date of the sale of the applicable asset and may include targeted proceeds that are to be distributed to the vehicles managed by Cadre (but which have not been realized by the vehicle as of the date of calculation). The calculation of net return figures for each investment pertains to single-asset investment vehicles only. The calculation of net return figures for each investment in a multi-investment fund vehicle is difficult, if not impossible, to prepare with accuracy due to the estimation of fund-wide expenses and other variable fees applicable to each investment that are necessary for such calculations. Returns reflect net performance and are not audited. Other vehicles, such as the Cadre Direct Access Fund LP and parallel vehicles, are also participants in these investments

3

Gross distributions to investors refers to the sum of any income distributions, sale gains, and return of capital without deduction for any investor specific withholding or contribution interest. Distributions are not guaranteed. A portion of the gross distributions reflect a return of principal.

Important Disclosures
‍

Private Securities

Investments in private offerings are speculative and involve a high degree of risk. Investments in private offerings are not bank deposits and therefore are not insured by the FDIC or guaranteed by any other party. Investors must be qualified as an accredited investor to participate in private offerings and you may be required to verify your status as an accredited investor. 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.

Not Advice

This communication is not to be construed as investment, tax, or legal advice in relation to the relevant subject matter; investors must seek their own legal or other professional advice before making any investment to determine whether an investment is suitable for them.

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 investments 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.

More complete disclosures and the terms and conditions relating to an investment in a particular private placement is contained in the investment memorandum.