The investment opportunity described herein is subject to certain risks associated with the real estate industry in general, including: local, national, and international economic conditions, the supply and demand for properties, the financial condition of tenants, buyers and sellers of properties, changes in interest rates, changes in environmental laws or regulations, planning laws and other governmental roles and fiscal and monetary policies, changes in real property tax rates, negative developments in the economy, uninsured or under-insured casualties, force majeure acts, terrorist events, and other factors that are beyond the reasonable control of Ravenna Capital Group LLC.  In addition, real estate assets are subject to long-term cyclical trends that may give rise to significant volatility in values.  Investment in Ravenna Capital Group LLC or our funds is disproportionately exposed to the foregoing risks due to its concentration in real estate and real estate-related investments. You should understand that it is not possible to predict or identify all risk factors and, consequently, you should not consider any such list to be a complete set of all potential risks or uncertainties. 

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Real estate investing may be subject to a higher degree of market risk because of a concentration in a specific industry, sector, product type, or geographic sector.  Real estate investments may be subject to risks including, but not limited to, declines in value of the real estate, risks related to general and economic conditions, changes in value of the underlying property owned, and default by project sponsors.

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The value of investments and the income from them may fluctuate and your investment is not guaranteed.  Past performance is no guarantee of future results.  Ravenna Capital Group LLC does not provide any legal or tax advice or advisory services.  Investors should make an independent assessment of the legal, regulatory, tax, credit, and accounting issues and determine, together with their own professional advisors, if any of the investments described herein are suitable for their investment goals.