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The information contained in this website does not constitute an offering of interests in any investment vehicle managed by WREI (each, an “Investment Vehicle”) and any offering in an Investment Vehicle may be made only by the private offering memorandum for that Investment Vehicle. This website is qualified in its entirety by the private offering memorandum for each Investment Vehicle, which contains, among other things, a description of the risks of an investment in such Investment Vehicle as well as fees and expenses in connection therewith. Capitalized terms used, but not otherwise defined herein, have the meanings set forth in each Investment Vehicle’s private offering memorandum.

Past performance is no guarantee of future performance. An investment in any Investment Vehicle involves a high degree of risk, the performance of each Investment Vehicle may be highly volatile, and each Investment Vehicle may have limited or no liquidity. There is no guarantee that any Investment Vehicle will achieve its investment objective. Each Investment Vehicle may use leverage and may lack diversification, which can increase the risk of loss to that Investment Vehicle. Each Investment Vehicle is a speculative investment and entails significant risks. The interests of WREI and/or the general partner of an Investment Vehicle may conflict with the interests of such Investment Vehicle as further detailed in the private offering memorandum for such Investment Vehicle. WREI and its affiliates may also provide discretionary investment management services to managed accounts and other funds, some of which may have investment programs substantially similar to that of the Investment Vehicle(s).

Please see “Risk Factors” in each Investment Vehicle’s private offering memorandum. Risk factors include but are not limited to risk of adverse or unanticipated market developments, risk of counterparty or issuer default, risk of illiquidity, use of leverage, foreign investments, low credit quality securities, derivatives, concentration, illiquid investments, short selling, option transactions, foreign exchange risk exposure, foreign exchange speculation, swaps, stock index options, lending portfolio securities, valuation, business cycles, high yield securities, troubled company investments, non-performing nature of debt, uncertain exit strategies, bank loans and participations, bankruptcy claims, litigation, investment in ventures and other equities, non-U.S. securities, risks of industry focus, highly volatile markets, commodity futures contracts, limited liquidity, control position, lack of operating history and investment strategy risk factors.

The foregoing does not describe all of the risks inherent in or presented by an investment in any Investment Vehicle. Prospective investors for an Investment Vehicle should carefully read such Investment Vehicle’s private offering memorandum and ensure that they fully understand all risk factors and any legal, tax and accounting considerations applicable to them prior to investing.

This material may not be reproduced, distributed or transmitted to any other person or incorporated in any way into another document or other material without the prior written consent of WREI.

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