* The Fund should be considered speculative and involves a high degree of risk including the potential loss of investment.
* The Fund’s illiquid nature will prevent investors from having access to their money for an indefinite period of time.
* Investors are subject to stockholders transaction expenses of 10% in addition to annual management fees.
* The Fund has elected to be taxed as a REIT, but if it fails to meet the requirements, there may be adverse tax consequences.
* An investor should not expect to be able to sell fund shares regardless of how the fund performs and if shares are sold, it is likely an investor will receive less than the purchase price and less than the current NAV.
* The fund has implemented a share repurchase program, but does not expect to repurchase more than 5.0% of the shares that were outstanding in the prior year on average. In addition, any such repurchases will be at a 10.0% discount to the most recent offering price for 2 years following the close of the Offering, rising thereafter.
* Dividends are not guaranteed, and the fund is permitted to return a limited amount of capital, or borrow, to fund dividends.
* An investment in the fund’s shares is not suitable if an investor will need access to the money invested. Because an investor will be unable to sell shares of the fund, it will not be possible to reduce exposure on any market downturn unless and until the fund is listed.
* An investor will pay a sales load of up to 10% and offering expenses of up to 4.1% on the amount it invests. If an investor pays the maximum aggregate of 14.1% for sales load and offering expenses, the investment must experience a total return of 16.4% in order to recover these expenses.