EFTA01374659.pdf

RXR REALIZED INVESTMENTS BY ESTATE VALUE ADDED FUND RXR Real Estate Value Added Fund Realized Investments as of June 30, 2018 iolal Total Invested Realized Gross Multiple &Oh' Equity 0tos+ hlulhpleort I Not al (kographic Ca ' Posools Less-raped ln'cMal ' sprat lase:dal 1)ascsametat Ragata (0001) IRK( Ennitd.' &PICA& Emerging Sub-Market Strategy Intntment. 61 Broadway (49*. sold) Mew }'ale. INN 521,975 535.217 24.4% 1.6x 20.2% I.5x 80 Broad Street New Yak. NY 7.749 10.895 11.7 1.4x 103 I.4x Emerging Stib-Markri Waite) lineaments Combined 529,724 546.112 20.5% I.6x 17.1% I.5x Other I 'ue AddedStrategy Invechnenis 5 fumes Square Nleziszline Loan New York. NY 515.201 18.560 14.3% I .2x 12.6 1.1x All Realized hotstratuts Combined 544.925 $64,672 19.0% 1.4x 16.1% 1.4x Note that none of the above investments are considered to be within a Qualified Opportunity Zone. 1. Gross IRR and equity multiple refers to the internal rate of return to the fiat on its investments calculated based on when such fund made the investment and received the distributions. before taking into consideration any carried interest, management fees, investment or fund-level expenses or taxes (which amounts may be significant and may materially impact returns). 2. Not representative of the Fund's frac Net IRR and equity multiple arc calculated based on timing of the fund's investment of capital and receipt of distributions, less allocated fund level carried interest, management fees and other coats, but do not take into consideration any taxes borne by individual investors, which may vary by investor. Fund level costs were allocated to individual investments as follows: (i) anticipated fund level costs, except carried interest, were weighted by equity invested (or anticipated to be invested) and anticipated investment hold period, with an additional allocation to common equity interests in real estate properties/projects and reduced allocation to structured finance investments. and (ii) anticipated fund level carried interest was allocated based on anticipated profit from each investment. In some instances, funds borrowed amounts under a subscription facility in advance of or in lieu of calling capital, resulting in fund investors making correspondingly later and/or smaller capital contributions to such fund. Accordingly, the use of a subscription facility by a fund resulted in higher investor-level returns than if capital had been called, even after taking into account the associated interest expense of the borrowing. Past performance is not indicative offuture results. RXR 62 of 75 CONFIDENTIAL - PURSUANT TO FED. R. GRIM. P. 6(e) DB-SDNY-0069461 CONFIDENTIAL SDNY_GM_00215645 EFTA01374659