Proprium Capital Partners, L.P. (“Proprium”) is an investment advisory firm founded in August 2012. Proprium’s principal owners are J. Timothy Morris and Philipp Westermann. Immediately prior to founding Proprium, the Mr. Morris served as a managing director in Morgan Stanley’s real estate division, where his portfolio management responsibilities encompassed various investment accounts managed by Morgan Stanley, including the Morgan Stanley Fund (as defined below). Effective March 1, 2013, Proprium commenced investment advisory operations. Proprium’s investment advisory business is principally focused on providing discretionary investment advisory and sub-advisory services to its clients, which include one or more pooled investment vehicles (collectively, the “Pooled Investment Funds”) organized primarily to make minority or controlling opportunistic investments in public and private equity securities as well as public and private fixed income instruments of real estate and real estate-related portfolio companies (including other pooled investment vehicles). Such portfolio companies may include companies that are primarily engaged in businesses focused on the ownership, operation or development of, or the provision of services relating to, real estate assets. Proprium also from time to time establishes certain related co- investment vehicles (a “Co-Investment Fund”, and collectively with the Pooled Investment Funds, the “Funds”) typically for the purpose of making a single investment. Proprium also provides discretionary investment advisory services to eight Co-Investment Funds. The Funds may also, as part of their respective investment strategies, invest in securities and real estate indices and in derivatives linked to such indices and to individual real estate companies. Additionally, from time to time, the Funds may also invest directly in real estate and real estate-related assets. As noted above, during his tenure as managing director within Morgan Stanley’s real estate division, Mr. Morris provided portfolio management services to various investment accounts managed by Morgan Stanley, including Morgan Stanley Real Estate Special Situations Fund III, L.P. (the “Morgan Stanley Fund”). In connection with Mr. Morris’s departure from Morgan Stanley, as of March 1, 2013, the

Morgan Stanley Fund ceased: (i) making new investments and (ii) accepting subscriptions from new investors as well as additional subscriptions from pre-existing investors. Additionally, pursuant to a Sub- Advisory Agreement (the “Sub-Advisory Agreement”), dated as of March 1, 2013, among Proprium, the Morgan Stanley Fund and Morgan Stanley Real Estate Special Situations III-GP, L.L.C. (the “Morgan Stanley GP”), Proprium agreed to continue to provide investment advisory services to the Morgan Stanley Fund in respect of certain of its pre- existing investments. Further, on March 1, 2013, Proprium organized a new Fund, the Proprium Real Estate Special Situations Fund, L.P. (the “Proprium Fund”), whose purpose is to generally continue the investment strategy of the Morgan Stanley Fund. The Proprium Fund began accepting subscriptions from new investors as well as existing Morgan Stanley Fund investors on March 1, 2013. As of December 2023, the Proprium Fund converted to a closed-end fund and is no longer accepting subscriptions Proprium tailors its advisory services to the specific investment objectives and restrictions of each client account as set forth in such client account’s confidential private placement memorandum, limited partnership agreement, investment management agreement and/or other governing documents (collectively, the “Governing Documents”). Investors and prospective investors of each Fund should refer to the Governing Documents of the applicable Fund for complete information on the investment objectives and investment restrictions with respect to such Fund. There is no assurance that any of the Funds’ or other client accounts’ investment objectives will be achieved or that their investment strategies will be successful. In accordance with common industry practice, one or more of the Funds and/or their general partners have or may in the future enter into “side letters” or similar arrangements with certain investors pursuant to which the general partner grants the investor specific rights, benefits or privileges that are not made available to investors generally. Proprium does not participate in any wrap fee programs. As of December 31, 2023, Proprium had approximately $4,306,832,000 in assets under management, all of which Proprium manages on a discretionary basis.