Investing involves risk, including loss of principal. Past performance does not guarantee or indicate future results. Any historical returns, expected returns, or probability projections may not reflect actual future performance. Neither Alpine Real Estate, LLC nor any of its affiliates provide tax advice and do not represent in any manner that the outcomes described herein will result in any particular tax consequence. This is NOT an offer to sell securities. If an offering is made it will be through a Confidential Private Placement Memorandum (the “Memorandum”), which will contain details of the offering including a discussion of risk factors. Prospective investors are encouraged to review the entirety of the Memorandum, including the “Risk Factors” portion of the Memorandum. An investment decision should be made only after a careful review of the entire Memorandum (including all Exhibits) and after consulting with a tax or legal adviser before making any investment decision.