PCCP

PCCP, LLC (“PCCP”) is registered with the SEC as an investment adviser under the Investment Advisers Act of 1940, as amended. SEC registration does not imply a level of skill or training.

In addition to this website, PCCP publishes content on social media platforms, including but not limited to Twitter and LinkedIn (collectively with this website, the “Websites”). The information contained on the Websites is provided for informational purposes only and is not to be construed as investment advice, an offer to sell or a solicitation of an offer to purchase any securities or any other interest in any fund, account or other investment product or assets managed by PCCP. Any such offering and sale would be made only on the basis of certain transaction documents, such as a final private placement memorandum and related governing and subscription documents pertaining to such offering and sale, and only to persons and in circumstances in which such offers or and sales may legally be made without violation of U.S. federal or state securities laws or other applicable laws and regulations.

Information contained on the Websites is provided on an “as is” and “as available” basis and PCCP makes no representation or warranty, express or implied, regarding the accuracy, completeness, adequacy, timeliness or suitability of the information. PCCP assumes no obligation to update or otherwise revise any information contained on the Websites, including any revisions to reflect changes in economic or market conditions or other circumstances to reflect the occurrence of unanticipated events.

Certain information contained on the Websites constitutes “forward-looking statements,” which can be identified by use of forward-looking terminology such as “may,” “will,” “should,” “expect,” “attempt,” “anticipate,” “project,” “estimate,” “intend,” “seek,” “target,” “continue,” or “believe,” or the negatives thereof or other variations thereon or comparable terminology. Due to the various risks and uncertainties, actual events or results, including in the actual performance of investments, may differ materially from those reflected or contemplated in such forward-looking statements.

Any investment examples included on the Websites were chosen to show recent, demonstrative transactions in PCCP’s investment vehicles, with characteristics consistent with PCCP’s investment strategies. Past performance is no guarantee of future results and there can be no assurance than an investment offered by PCCP or its affiliates will achieve comparable results to any of PCCP’s past investment performance.

PCCP’s assets under management (“AUM”) included on the Websites represents the aggregation of debt and equity investments across multiple PCCP-managed investment vehicles and PCCP-advised separate accounts. AUM for equity investments represents the sum of the fair market value or cost basis of real estate at 100% ownership (inclusive of any JV partner’s pro-rata share), cash and cash equivalents and other assets. PCCP’s preliminary regulatory assets under management for purposes of its Form ADV are calculated pursuant to and in accordance with the instructions for Form ADV. In accordance with the instructions for Form ADV, PCCP’s regulatory assets under management for purposes of the Form ADV do not include all of the investment vehicles managed or advised by PCCP and as such, PCCP’s regulatory assets under management for purposes of its Form ADV is less than the AUM set forth on the Websites.

PCCP may post content to the Websites that is generated by third parties or contains links to publications or other websites that are not affiliated with PCCP. PCCP does not monitor any unaffiliated websites linked from or to the Websites and makes no representation or warranty, express or implied, for the content or the security of any such linked website. PCCP is not responsible for the information, materials or services obtained on or from such unaffiliated websites and will not be liable in any respect for any damages arising from your access of such websites. Any such links are provided for the convenience of the users of the Websites. The inclusion of such links does not imply any adoption, endorsement, representation or warranty by PCCP with respect to any such website or the content or services contained through such websites.

Content posted on PCCP’s Websites pages by third parties, including the use of a “like” or similar function on the Websites, is the responsibility of the user who posted the content. PCCP does not adopt, endorse or have any responsibility for the accuracy of content posted by third parties, and PCCP reserves the right to moderate any such content posted on PCCP’s Websites, including, without limitation, the right to remove content and restrict or block users who post content that is inappropriate or offensive. Additionally, PCCP reserves the right to remove third-party content, and restrict or block users who post content, to comply with applicable laws and regulations, including because such content may be construed to constitute testimonials, advice, recommendations or advertisements for securities-related services or investment products, including recommendations or testimonials of PCCP services and investment products.

In 2021, 2022 and 2023, PCCP was recognized in Pensions & Investments’ Best Places to Work in Money Management. PCCP paid a fee to participate in the Pensions & Investments’ Best Places to Work in Money Management Survey.

While environmental, social or governance (“ESG”) factors are one of the many factors that PCCP intends to consider in making an investment, there is no guarantee that PCCP will successfully implement and make investments in assets that create positive ESG impact while enhancing long-term value and achieving financial returns. To the extent that PCCP engages with assets on ESG-related practices and potential enhancements thereto, such engagements may not achieve the desired ESG or financial results, or the market or society may not view any such changes as desirable. Successful engagement efforts on the part of PCCP will depend in part on PCCP’s skill in properly identifying and analyzing material ESG and other factors and their impact related value, and the ability of joint venture partners, borrowers and third-party service providers to carry out business plans, and there can be no assurance that the strategy or techniques employed will be successful. In evaluating an asset, PCCP is dependent upon certain information and data obtained through voluntary or third-party reporting that may be incomplete, inaccurate or unavailable, which could cause PCCP to incorrectly assess a company’s ESG practices and/or related risks and opportunities. ESG-related practices differ by region, property type and issue and are evolving accordingly, and an asset’s ESG-related practices or PCCP’s assessment of such practices may change over time. Further, ESG is comprised of three separate components and there is no uniform or standard approach to how each component is valued. Therefore PCCP, its clients, investors, joint venture partners and borrowers may value each component differently and may not have a consistent ESG analysis or view on ESG generally. Finally, the application of ESG related practices may vary according to each client’s governing documents, including the applicable investment strategy thereto.

Green and healthy building certifications are provided by third parties, which are paid membership fees or project registration and certification fees. For equity properties, PCCP also pays third-party property managers in connection with obtaining such certifications.

Public Disclosures – Japan