This material does not constitute an offer to sell or a solicitation to buy any securities. An offer can only be made by a prospectus that contains more complete information on risks, management fees and other expenses. Read the applicable prospectus before you invest or send money. There is no assurance that the investment objectives of these programs will be attained. Consult the applicable prospectus or offering memorandum for suitability standards and minimum investments in your state. Participation in a real estate program is an investment in the program and not a direct investment in real estate or any other assets owned by the program. There are risks involved in investing, including market fluctuation and possible loss of principal value, and the investment may not be suitable for all investors.