Central Lending is a private credit and real estate lending platform headquartered in Lakeland, Florida, with approximately $40M in assets under management. The firm originates and manages short to medium term loans secured by residential and commercial real estate assets, providing structured debt solutions to developers, investors, and operators seeking flexible capital for acquisition, renovation, repositioning, and bridge financing needs.Platform Overview<ul style="list-style-type: disc; padding-left: 22px; margin: 6px 0px 10px;"><li style="display: list-item;">Focused exclusively on real estate-backed private lending</li><li style="display: list-item;">Manages both origination and servicing activities, with the ability to sell loans into the secondary market while retaining servicing spread</li><li style="display: list-item;">Structures investment vehicles around defined maturity timelines, disciplined capital deployment, and aligned sponsor-investor interests</li><li style="display: list-item;">Centralized loan underwriting, servicing, and portfolio oversight</li><li style="display: list-item;">Engages Verivest LLC as a third-party fund administrator for investor-facing vehicles</li></ul>Leadership<ul style="list-style-type: disc; padding-left: 22px; margin: 6px 0px 10px;"><li style="display: list-item;">Andrew Boccia, Chief Executive Officer: Owner of Central Lending, LLC and manager of Central Lending Fund Management, LLC. Leads all aspects of firm strategy, origination, and capital deployment</li><li style="display: list-item;">Karen Samas, Chief Operating Officer: Oversees firm operations and execution</li><li style="display: list-item;">Heather Dreves, Chief Investment Officer: Leads investment strategy and portfolio oversight</li><li style="display: list-item;">Kade Palmer, Investor Relations Officer: Leads investor communications and capital relationships</li></ul>

Central Lending

Central Lending Fund 3

PM Real Estate Services is a California-licensed general contracting firm headquartered in Los Angeles, California, with approximately $40M in assets under management across affiliated entities. The firm specializes in residential renovation, ground-up construction, and multifamily development execution, operating as a vertically integrated construction partner for value-add real estate investment strategies across Southern California.Platform Overview<ul style="list-style-type: disc; padding-left: 22px; margin: 6px 0px 10px;"><li style="display: list-item;">Over two decades of hands-on construction management experience</li><li style="display: list-item;">California General B Contractor License #B1012833 (issued 2016)</li><li style="display: list-item;">Full-service construction management firm covering fix and flip projects, single-family developments, 2-4 unit developments, condo and townhome projects, and garden-style multifamily properties</li><li style="display: list-item;">Extensive vendor, tradesman, and wholesale construction supplier network across Southern California</li><li style="display: list-item;">Handles field service management and ongoing maintenance for multifamily properties managed by affiliated brokerage Real Estate Mechanics</li><li style="display: list-item;">Multiple project managers with 20+ years of residential construction experience</li></ul>Affiliated PlatformPM Real Estate Services operates in close coordination with Real Estate Mechanics (REM), an affiliated California-licensed real estate brokerage and development firm (License #02143271, issued 2021) that serves as Asset Manager for the Fund. REM handles front-end due diligence, soft construction management (architects, engineers, permits), property management, and disposition across the portfolio. REM has built relationships with over 20,000 Southern California real estate professionals through its educational programs, providing continuous deal flow and rapid financial feasibility analysis capability.Leadership<ul style="list-style-type: disc; padding-left: 22px; margin: 6px 0px 10px;"><li style="display: list-item;">Pavan Maddi, Managing Director: Over 20 years of experience leading multi-million-dollar residential and commercial real estate projects. President of both Real Estate Mechanics and PM Real Estate Services Inc. Previously Contract Manager and Senior Accounting Position at T-Curtis and Company, LLP, which won the national contract for the U.S. Department of Housing's REO Division, overseeing 50+ accounting staff managing the acquisition and disposition of over $250 billion in HUD homes. National trainer for single-family asset management and accounting systems. Bachelor's in Business Administration from California Polytechnic University-Pomona and Master's in Real Estate Development and Finance from Georgetown University</li></ul>

PM Real Estate Services

REM RE Fund I, LP

Freedom Commercial Real Estate LLC is a Texas-based private real estate investment sponsor headquartered in Dallas, Texas, with approximately $250M in assets under management. Founded in 2023 by Zane Schartz, the firm focuses on acquiring and managing newly constructed single-tenant net lease and essential retail assets across the United States, concentrating on properties leased to investment-grade national tenants in defensive retail sectors including quick-service restaurants, pharmacies, grocery, auto parts, dollar stores, and distribution centers.Platform Overview<ul style="list-style-type: disc; padding-left: 22px; margin: 6px 0px 10px;"><li style="display: list-item;">$250M+ in assets under management</li><li style="display: list-item;">Active diversified CRE fund currently generating monthly cash distributions across a growing portfolio of stabilized investment-grade retail assets</li><li style="display: list-item;">Structured as a Texas LLC with Class A (investor) and Class B (manager) unit classes, managed by Freedom CRE Fund Manager LLC</li><li style="display: list-item;">Focused exclusively on newly constructed single-tenant NN and NNN lease properties, minimizing landlord operating responsibilities</li><li style="display: list-item;">Target tenant roster includes investment-grade national brands such as Starbucks, Sherwin Williams, Dollar General, Walgreens, Advance Auto Parts, and CVS Pharmacy</li><li style="display: list-item;">Target 7% cap rate acquisitions with projected 18-20%+ total annual returns combining 8% cash-on-cash yield, principal paydown, and asset appreciation</li><li style="display: list-item;">Conservative 40-60% LTV leverage with 25-year amortization and fixed-rate debt</li><li style="display: list-item;">Sponsor co-invests alongside LP capital in every acquisition, reinforcing alignment of interests</li></ul>Leadership<ul style="list-style-type: disc; padding-left: 22px; margin: 6px 0px 10px;"><li style="display: list-item;">Zane Schartz, Founder &amp; Manager: 7+ years in private equity real estate investing, currently serving as Chief Investment Officer of a firm with over $700M in AUM. Personally manages a portfolio spanning 6 commercial real estate funds with 60+ assets, is a partner in over $300M of commercial real estate, operates a multifamily portfolio of 1,200+ units, and directly manages over $150M of commercial assets. Business marketing and management degree from Liberty University, where he played college hockey before a three-year professional hockey career in North America and Europe</li><li style="display: list-item;">Ron Meador, CFO: Over 40 years of financial management experience, including CFO and senior leadership roles across real estate, technology, and nonprofit sectors. Certified Public Accountant</li><li style="display: list-item;">Mark Pittman: 20+ years of commercial real estate experience across investment, development, and brokerage. Founder of Wynmark Commercial and has personally developed over $500M of medical office projects in the DFW area</li><li style="display: list-item;">Derrek Schartz: 35+ years of executive sales and marketing leadership, including Senior Vice President of Sales and Marketing for Legend Senior Living (a leading senior care provider in North America) and Senior Vice President of Sales for FLEETCOR Technologies (S&amp;P 500 company)</li></ul>Fund Structure and Economics<ul style="list-style-type: disc; padding-left: 22px; margin: 6px 0px 10px;"><li style="display: list-item;">Structured as an open fund LLC with investor ownership across all fund-acquired assets</li><li style="display: list-item;">Asset management fee: 2% of gross revenue</li><li style="display: list-item;">Profit distribution: 80/20 split (80% to investors, 20% to managing entity)</li><li style="display: list-item;">No acquisition fees charged by Freedom CRE Fund</li><li style="display: list-item;">3% working capital reserve typically set aside from total equity raise for repairs and operational needs</li><li style="display: list-item;">Accepts capital from accredited investors, including IRA and Solo 401(k) funds</li><li style="display: list-item;">Planned 5-7 year hold period for acquired assets, subject to market conditions</li></ul>

Freedom Commercial Real Estate

Freedom CRE Fund

Red Tower Capital is a private real estate lending and investment firm headquartered in San Francisco, California, with approximately $80M in assets under management. The firm specializes in bridge loans, bespoke lending solutions, and alternative real estate investments, delivering audited net-to-investor returns of 9+% annualized over a competitive 10-year track record focused on California loans.Platform Overview<ul style="list-style-type: disc; padding-left: 22px; margin: 6px 0px 10px;"><li style="display: list-item;">Continuously operating since 2011</li><li style="display: list-item;">502+ non-bank real estate loans originated, totaling nearly $300M in principal</li><li style="display: list-item;">10-year audited track record averaging 9.7% annualized investor returns</li><li style="display: list-item;">Established as a top non-bank real estate lender in the San Francisco Bay Area</li><li style="display: list-item;">California DRE #01912381 | NMLS <code>#951838</code></li></ul>Performance History<ul style="list-style-type: disc; padding-left: 22px; margin: 6px 0px 10px;"><li style="display: list-item;">2025 Q1: 48.00% weighted avg LTV, 9.42% investor returns</li><li style="display: list-item;">2024: 51.31% weighted avg LTV, 9.42% investor returns (9.75% compounded quarterly)</li><li style="display: list-item;">2023: 49.64% weighted avg LTV, 9.06% investor returns (9.37% compounded quarterly)</li><li style="display: list-item;">2022: 50.04% weighted avg LTV, 9.01% investor returns (9.32% compounded quarterly)</li><li style="display: list-item;">2021: 56.05% weighted avg LTV, 9.14% investor returns (9.46% compounded quarterly)</li><li style="display: list-item;">2020: 49.51% weighted avg LTV, 9.23% investor returns (9.55% compounded quarterly)</li></ul>Red Tower Capital has consistently outperformed the average of audited California mortgage funds by approximately 2% annually across its track record.Leadership<ul style="list-style-type: disc; padding-left: 22px; margin: 6px 0px 10px;"><li style="display: list-item;">Solomon Gorlick, Founder &amp; President: 20+ years of real estate lending experience across private lending, investments, and development. Licensed California Real Estate Broker. BA from UC Berkeley</li><li style="display: list-item;">Linda Baldwin, Director of Finance &amp; Back Office: 21+ years of fund accounting experience with deep expertise in lending operations and real estate. BA from Rutgers</li><li style="display: list-item;">John Lowman, Business Development: 28-year track record growing real estate, media, and beverage businesses. Studied Public Administration at San Diego State University</li></ul>

Red Tower Capital

RTC VI - Private Mortgage REIT

Optimum Energy Partners LLC is a Texas-based oil and gas investment sponsor headquartered in Dallas, Texas, with approximately $100M in assets under management. The firm specializes in structuring direct working interest joint ventures that provide accredited investors access to onshore U.S. oil and gas drilling opportunities across the Anadarko Basin, Permian Basin, Powder River Basin, DJ Basin, and the Gulf of America. Optimum focuses on partnerships with established operators in proven producing basins, delivering both potential cash flow and significant tax-advantaged investment structures.Platform Overview<ul style="list-style-type: disc; padding-left: 22px; margin: 6px 0px 10px;"><li style="display: list-item;">$100M+ in assets under management</li><li style="display: list-item;">23 prior drilling joint ventures sponsored since inception in 2021</li><li style="display: list-item;">Active deployment across Anadarko Basin (Oklahoma), Powder River Basin (Wyoming), Permian Basin (Texas), DJ Basin (Colorado), Austin Chalk (Texas), and the Gulf of America</li><li style="display: list-item;">Portfolio includes both horizontal and vertical drilling joint ventures across oil, gas, and natural gas liquids targets</li><li style="display: list-item;">Direct working interest joint venture structure providing investors with maximum tax efficiency through IDC deduction, depletion allowance, and active income treatment</li></ul>Leadership<ul style="list-style-type: disc; padding-left: 22px; margin: 6px 0px 10px;"><li style="display: list-item;">Derrick May, President &amp; Chief Executive Officer: 17+ years of oil and gas industry experience across private equity, investment banking, and company management. Holds an MBA in Finance and Accounting from Southern Methodist University and a Bachelor of Science in Finance and Management from Oklahoma State University. Previously served as CFO of Legacy Exploration and as a financial analyst at Melody Capital</li><li style="display: list-item;">Chance Smith, Co-Founder &amp; Chief Operating Officer: 10+ years of oil and gas operations experience, most notably as a former founder of Trojan Tubular Services, a prominent oilfield service company. Oversees the operational division of the company</li><li style="display: list-item;">Joey Shelton, Co-Founder &amp; Senior VP of Business Development (Texas): 10+ years of energy industry experience, having helped fund over 30 projects domestically. Began his career in law enforcement before transitioning to oil and gas</li><li style="display: list-item;">John Griffin, Co-Founder &amp; VP of Business Development (Texas): Bachelor of Marketing from Louisiana Tech University. Brings deep oil and gas business development experience to investor relationships and project sourcing</li><li style="display: list-item;">Christopher Fusco, Co-Founder &amp; VP of Business Development (New York): Nearly a decade of Wall Street experience as a licensed broker and advisor before transitioning into oil and gas. Previously co-managed a retail trading firm office in New York</li><li style="display: list-item;">Alexa May, Corporate Secretary &amp; Executive Assistant: Texas Christian University graduate. Handles executive support, HR functions, and Board Meeting coordination</li></ul>Prior ActivitiesOptimum has structured and managed 22 prior oil and gas drilling joint ventures since inception in 2021, with significant aggregate production results. Selected highlights from the prior track record include:<ul style="list-style-type: disc; padding-left: 22px; margin: 6px 0px 10px;"><li style="display: list-item;">Optimum Powder River 12 JV (Converse, WY, Horizontal, June 2023): 5,576,702 BOE produced, $7.65M capital raised, $4.52M revenue</li><li style="display: list-item;">Optimum Macsodora JV (CO, OK, WY, Horizontal, August 2024): 7,304,699 BOE produced, $12.18M capital raised, $4.86M revenue</li><li style="display: list-item;">Optimum Chopper Ross 6 JV (Campbell, WY, Horizontal, August 2023): 2,962,141 BOE produced, $1.47M capital raised, $606K revenue</li><li style="display: list-item;">Optimum Warthog II JV (Ellis, OK, Horizontal, May 2024): 1,890,229 BOE produced, $3.07M capital raised, $2.18M revenue</li><li style="display: list-item;">Optimum Permian 6 JV (Campbell, WY, Horizontal, April 2023): 1,027,685 BOE produced, $1.70M capital raised</li><li style="display: list-item;">Optimum Hog (Howard, TX, Horizontal, January 2023): 575,578 BOE produced, $5.35M capital raised, $3.03M revenue</li><li style="display: list-item;">Optimum Powder River 3 JV (Campbell and Converse, WY, Horizontal, August 2024): 644,472 BOE produced, $4.21M capital raised</li><li style="display: list-item;">Optimum CLR 3 Well JV (Garvin, OK, Horizontal, January 2025): 828,498 BOE produced, $4.17M capital raised</li><li style="display: list-item;">Optimum Fortis 8 JV (OK, Gulf of America, Horizontal, February 2026): Currently drilling/completing, $12.77M capital raised</li></ul>

Optimum Energy Partners

Optimum 15 Well Joint Venture

Track Record Assets is a Houston-based multifamily investment firm with approximately $115M in assets under management, focused on acquiring, repositioning, and operating value-add apartment communities in high-growth Texas markets. The firm specializes in identifying stabilized assets with operational upside and executing renovation and management strategies designed to increase net operating income and long-term asset value.Platform Overview<ul style="list-style-type: disc; padding-left: 22px; margin: 6px 0px 10px;"><li style="display: list-item;">5,913 multifamily units owned and operated across the firm's history</li><li style="display: list-item;">$144M+ in value added across prior investments</li><li style="display: list-item;">21 successful multifamily real estate exits</li><li style="display: list-item;">Vertically aligned operating platform integrating acquisitions, asset management, direct property management, financing, and disposition strategy</li><li style="display: list-item;">Deep submarket concentration in Houston, including 770+ units previously owned in the same Champions East submarket as Northside Upgrade</li></ul>Leadership<ul style="list-style-type: disc; padding-left: 22px; margin: 6px 0px 10px;"><li style="display: list-item;">Trey Stone, Co-Founder &amp; CEO: 26-year multifamily veteran and syndicator. Former President of the Houston Apartment Association (the youngest president in HAA history) and 3-time "Owner of the Year" award winner at the city (Houston), state (Texas), and national (National Apartment Association) levels. Finance degree from the University of Texas at Austin. Leads acquisitions, asset management, direct property management, and dispositions</li><li style="display: list-item;">Ian Stapleton (SSundee), Co-Founder &amp; CMO: YouTube creator and entrepreneur with 25M+ subscribers and 12+ years as a top content creator. Brings digital reach and visibility to the firm's investor platform</li><li style="display: list-item;">Jared Spain, Chief Investment Officer</li><li style="display: list-item;">Nick Shaffer, Chief Syndication Officer</li><li style="display: list-item;">Brandon Fulep, VP of Investor Relations</li><li style="display: list-item;">Ana Lewis, Regional VP of Operations</li><li style="display: list-item;">Joe Reynaga, VP of Construction</li><li style="display: list-item;">Patty Garcia, Controller</li></ul>Proven Houston Submarket Track RecordTrack Record Assets has executed value-add multifamily plays across Houston for nearly two decades, with notable realized outcomes including La Monterra Apartments (acquired $27.05M, sold $41.5M, $14.45M value created), La Plaza (acquired $11.21M, sold $36M), Central Park (acquired $18M, sold $24M), and Plaza del Sol (acquired $5.38M, sold $12.92M). Current portfolio holdings include Casa Agave (488 units, $59.1M appraised value) and Apollo Palms (124 units).

Track Record Assets

Northside Upgrade

Optimum 7 Well Joint Venture

Optimum Fortis 8 Joint Venture

Buligo Capital is a U.S.-focused real estate private equity firm founded in 2012 by experienced real estate entrepreneurs. The firm operates as a vertically integrated GP, managing the full lifecycle of investments, from sourcing, financing, and underwriting through asset management, development, and exit.Buligo leads all aspects of the deal cycle with a hands-on approach and invests alongside its investors in every transaction. The executive team brings substantial experience in global real estate transactions across multiple asset classes.Track Record (December 2025)<ul style="list-style-type: disc; padding-left: 22px; margin: 6px 0px 10px;"><li style="display: list-item;">175 investments across the U.S. since inception</li><li style="display: list-item;">$1.8B equity invested / $5.1B total capitalization</li><li style="display: list-item;">76 realized investments generating:<ul style="list-style-type: disc; padding-left: 22px; margin: 6px 0px 10px;"><li style="display: list-item;">2.1x average equity multiple (net)</li><li style="display: list-item;">23.4% average IRR (net)</li></ul></li></ul>Strong investor retention and repeat capital driven by consistent execution and realized performance.Buligo + East Coast Acquisitions Joint Track RecordBuligo and its operating partner East Coast Acquisitions (ECA) have co-invested in 20 properties valued at over $460M since 2015. Their joint realized track record across grocery-anchored retail centers:<ul style="list-style-type: disc; padding-left: 22px; margin: 6px 0px 10px;"><li style="display: list-item;">22.8% net IRR on realized investments</li><li style="display: list-item;">2.07x equity multiple on realized investments</li></ul>Realized properties span markets including Durham NC, Kissimmee FL, Brooklyn NY, Atlanta GA, Columbia SC, Deltona FL, Hermitage TN, Groton CT, Poughkeepsie NY, and Pasadena TX, with individual deal IRRs ranging from 14% to 38%.Platform Scale<ul style="list-style-type: disc; padding-left: 22px; margin: 6px 0px 10px;"><li style="display: list-item;">90+ operating properties across sectors</li><li style="display: list-item;">~7,400 multifamily units</li><li style="display: list-item;">~3.9M SF industrial</li><li style="display: list-item;">~2.4M SF retail</li><li style="display: list-item;">~1,700 senior housing units</li></ul>Portfolio characterized by high occupancy levels (90%+ across sectors).Differentiation<ul style="list-style-type: disc; padding-left: 22px; margin: 6px 0px 10px;"><li style="display: list-item;">Vertically integrated platform: full control from sourcing through exit</li><li style="display: list-item;">Development expertise: proven ability to originate and execute ground-up projects (historically ~28.9% IRR on realized developments)</li><li style="display: list-item;">Flexible co-investment model: allows investors to participate selectively on a deal-by-deal basis</li><li style="display: list-item;">Strong local partnerships across sectors including multifamily, retail, and senior housing</li><li style="display: list-item;">Access to off-market deals and pricing advantages through relationship-driven sourcing</li></ul>Geographic FocusPrimarily invests in high-growth U.S. markets with emphasis on the Southeast (Carolinas, Georgia, Florida, Tennessee), Texas, and the Mountain states (Colorado, Utah, Idaho). These regions benefit from strong population growth, job creation, and favorable demographics.Operating Partner: East Coast Acquisitions (ECA)ECA is a full-service real estate investment firm headquartered in Tampa, Florida. The team brings over 50 years of combined experience in the acquisition and management of grocery-anchored retail, industrial, and mixed-use assets. Founded in 2014, ECA has acquired 25 properties with over 2M square feet of leasable area. Post-acquisition, Tri-City Plaza will be actively managed by ECA, which currently operates 16 retail centers across the country.

Buligo Capital

Tri-City Plaza

Augusta Portfolio

Optimum OKLA 6 Well Joint Venture

Buligo focuses on acquiring and developing real estate assets in high-growth U.S. markets, targeting sectors with strong fundamentals and supply-demand imbalances. The firm pursues a broad investment strategy across multiple asset classes, targeting Class A/B properties in expanding metro locations with a typical hold period of 4 to 7 years.Core Sectors<ul style="list-style-type: disc; padding-left: 22px; margin: 6px 0px 10px;"><li style="display: list-item;">Multifamily</li><li style="display: list-item;">Industrial (shallow bay / small-bay focus)</li><li style="display: list-item;">Grocery-anchored retail</li><li style="display: list-item;">Senior housing</li></ul>Strategy<ul style="list-style-type: disc; padding-left: 22px; margin: 6px 0px 10px;"><li style="display: list-item;">Value-add and development: active repositioning of existing assets and ground-up development where fundamentals support it</li><li style="display: list-item;">Off-market and relationship-driven sourcing: proprietary deal flow through established local partnerships and operator networks</li><li style="display: list-item;">Sunbelt and migration-driven markets: targeting metros with strong population growth, job creation, and favorable supply-demand dynamics</li><li style="display: list-item;">Active asset management: hands-on operational improvements, lease-up execution, and capital programs to drive NOI growth</li><li style="display: list-item;">Conservative underwriting: disciplined approach to projections, with alignment of interests through co-investment in every deal</li></ul>Investment ModelBuligo typically invests through two structures:<ul style="list-style-type: disc; padding-left: 22px; margin: 6px 0px 10px;"><li style="display: list-item;">Co-investment vehicles: deal-by-deal participation allowing investors to select specific opportunities that fit their portfolio</li><li style="display: list-item;">Diversified funds: broader exposure across multiple investments (e.g., Fund VI targeting 15–20 investments)</li></ul>Both structures emphasize diversification, conservative underwriting, and alignment with investors through meaningful sponsor co-investment.Values<ul style="list-style-type: disc; padding-left: 22px; margin: 6px 0px 10px;"><li style="display: list-item;">Alignment of interests: Buligo invests alongside its investors in every transaction, sharing in both risk and reward</li><li style="display: list-item;">Transparency: investors receive detailed quarterly reports, access to portfolio documentation and analysis tools, and are kept apprised of important developments through interim reporting</li><li style="display: list-item;">Integrity: trust is the foundation of Buligo's investor relationships, built through consistent execution and an impeccable track record across 175+ investments since 2012</li></ul>

Itay Goren

Guy Ben-Dror

Uri Zror

Adi Grinberg

Galit Kuras-Avital

Jeffrey Aaron

Rotem Lazar

Ran Preis

Erez Rosenwaks

Dror Zetouni

Tri-City Plaza Investment Memorandum

Tri City One Page Investment Teaser

Tri-City Plaza is located within the Greater Hartford metro, one of New England's most established economic centers with approximately 1.2 million residents*. The region supports a diversified economy spanning insurance, aerospace manufacturing, healthcare, financial services, education, and technology. Hartford is recognized as the "Insurance Capital of the World" and anchors Connecticut's "Aerospace Alley" advanced manufacturing corridor. Major regional employers include Travelers, The Hartford, Aetna CVS Health, Pratt &amp; Whitney, and the University of Connecticut.Greater Hartford MSA<ul style="list-style-type: disc; padding-left: 22px; margin: 6px 0px 10px;"><li style="display: list-item;">~1.2 million residents across one of New England's most established economic centers</li><li style="display: list-item;">Diversified economy spanning insurance, aerospace manufacturing, healthcare, financial services, education, and technology</li><li style="display: list-item;">Hartford recognized as the "Insurance Capital of the World" and anchors Connecticut's "Aerospace Alley" advanced manufacturing corridor</li><li style="display: list-item;">Major regional employers include Travelers, The Hartford, Aetna CVS Health, Pratt &amp; Whitney, and the University of Connecticut</li><li style="display: list-item;">617,900+ total employment</li><li style="display: list-item;">$89.5 billion gross regional product</li><li style="display: list-item;">3.2% unemployment rate (2024 average)</li><li style="display: list-item;">Strong connectivity through Interstate 84, Interstate 91, and Bradley International Airport, positioning the market between Boston and New York City</li><li style="display: list-item;">The region benefits from strong connectivity through Interstate 84, Interstate 91, and Bradley International Airport, positioning the market between the major economic centers of Boston and New York City.**</li></ul>Trade Area DemographicsThe property sits within an affluent, densely populated suburban market supporting strong consumer spending and necessity-based retail demand:<ul style="list-style-type: disc; padding-left: 22px; margin: 6px 0px 10px;"><li style="display: list-item;">5-mile radius: ~117,000 residents, ~51,000 households, $122,000 average household income, $356,000 average home value</li><li style="display: list-item;">3-mile radius: ~48,000 residents, ~21,000 households, $130,000 average household income</li><li style="display: list-item;">10-mile radius: ~300,000 residents, ~125,000 households, $121,000 average household income</li></ul>Location &amp; AccessibilityTri-City Plaza sits within Vernon's primary commercial corridor with strong visibility and regional connectivity:<ul style="list-style-type: disc; padding-left: 22px; margin: 6px 0px 10px;"><li style="display: list-item;">Located along Talcottville Road (28,000 vehicles/day) and Hartford Turnpike (20,000 vehicles/day)</li><li style="display: list-item;">Direct access to Interstate 84 (116,000 vehicles/day) less than one mile away</li><li style="display: list-item;">0.1 miles to Talcottville Road (Route 83): Vernon's primary commercial corridor</li><li style="display: list-item;">0.8 miles to Interstate 84: the region's main east-west highway</li><li style="display: list-item;">~11.5 miles to downtown Hartford</li><li style="display: list-item;">~22.5 miles to Bradley International Airport</li></ul>Surrounding Retail CorridorThe property sits within an established retail destination alongside national retailers including Target, Walmart, Lowe's, Kohl's, Aldi, and Big Y, reinforcing consistent consumer traffic throughout the corridor. Notable nearby centers within 4-5 miles include The Plaza at Buckland Hills (100% occupied — Trader Joe's, Marshalls, Total Wine, Ulta, PetSmart) and Evergreen Walk (Whole Foods, Costco, Nike, L.L. Bean, Pottery Barn).Growth PipelineThe surrounding trade area is seeing active residential development with 548 new units under construction or proposed nearby****:<ul style="list-style-type: disc; padding-left: 22px; margin: 6px 0px 10px;"><li style="display: list-item;">Broad Street Parkade Redevelopment: 232 units</li><li style="display: list-item;">942 Main Street Development: 116 units</li><li style="display: list-item;">Amerbelle / Daniel's Mill Redevelopment: 200 units</li></ul>This expanding residential base is expected to increase daily foot traffic and strengthen demand for convenience-oriented retail, dining, and services at Tri-City Plaza.

Tri-City Plaza is a 295,817 square foot grocery-anchored shopping center located in Vernon, Connecticut, approximately 15 minutes east of downtown Hartford. The property is 96% leased to an institutional-grade tenant roster anchored by a 74K SF ShopRite with 14 years of lease term remaining, and sits within the top 10% of shopping centers in Connecticut by visitation. The property is being acquired through a limited partnership structure with an anticipated closing in June 2026.Why This Opportunity<ul style="list-style-type: disc; padding-left: 22px; margin: 6px 0px 10px;"><li style="display: list-item;">Grocery-anchored stability: ShopRite anchors the center. Wakefern Food Corp., ShopRite's parent, is the nation's largest retailer-owned grocery cooperative.</li><li style="display: list-item;">Institutional-grade tenant roster: 91% of base rental income comes from national and credit tenants, including TJ Maxx, HomeGoods, HomeSense, Hartford HealthCare, Staples, Dollar Tree, Harbor Freight, and Five Below</li><li style="display: list-item;">E-commerce resistant tenant mix: The 26-tenant roster spans grocery, off-price apparel, home goods, healthcare, discount retail, dining, and services — categories that drive in-person visits and are difficult to replicate online</li><li style="display: list-item;">Market-leading traffic: 4.1 million visits in 2025, ranking the center 11th out of 102 retail centers in Connecticut*, with 164,000 vehicles passing the property daily</li><li style="display: list-item;">Durable income visibility: 7.5-year weighted average lease term backed predominantly by A-rated credit tenants</li><li style="display: list-item;">Multiple value-creation levers: Three vacant suites totaling 11,138 SF available for lease-up, contractual rent growth and mark-to-market opportunities across the existing tenant base, and selective outparcel dispositions targeted for Year 4</li><li style="display: list-item;">Experienced sponsor and operator: Buligo Capital ($3.3B AUM, 23.4% net IRR across 76 realized investments) partnered with East Coast Acquisitions, which will actively manage the property post-acquisition and currently operates 16 retail centers nationwide</li><li style="display: list-item;">Projected returns: 15.7% IRR and 1.7x equity multiple over a 4-year hold, with ~8.0% cash-on-cash in Year 1 and ~9.6% in Year 2</li></ul>Deal Structure<ul style="list-style-type: disc; padding-left: 22px; margin: 6px 0px 10px;"><li style="display: list-item;">Net purchase price: $62.5M ($211/SF)</li><li style="display: list-item;">Total capitalization: ~$64.9M (includes closing costs, capital reserves, and 2% acquisition fee)</li><li style="display: list-item;">Debt: ~$43.75M at 5.5% fixed rate (via interest rate swap), 5-year term, 2 years interest-only**</li><li style="display: list-item;">Investor equity raise: ~$21.1M</li><li style="display: list-item;">Minimum investment: $150,000</li><li style="display: list-item;">Sponsor co-investment: Buligo Capital and East Coast Acquisitions investing ~5% of total equity alongside limited partners</li><li style="display: list-item;">Net purchase price cap rate: 7.1%</li><li style="display: list-item;">Partnership vehicle: ECA Buligo Tri-City Partners LP (Delaware LP)</li><li style="display: list-item;">Offering: 506(c) Reg D, accredited investors only</li></ul>Promote Structure<ul style="list-style-type: disc; padding-left: 22px; margin: 6px 0px 10px;"><li style="display: list-item;">Tier 1: 25% promote above an 8% IRR</li><li style="display: list-item;">Tier 2: 35% promote above a 15% IRR</li><li style="display: list-item;">Fully back-ended with no catch-up — the sponsor only participates in profits after investors have received their preferred returns and return of capital</li></ul>Business PlanThe investment targets stable cash flow from Day 1 through in-place leases, with near-term upside driven by three levers:<ul style="list-style-type: disc; padding-left: 22px; margin: 6px 0px 10px;"><li style="display: list-item;">Lease-up: Three vacant suites represent incremental NOI without new construction</li><li style="display: list-item;">Contractual rent growth: Built-in escalations and mark-to-market opportunities across the existing tenant base over the hold period</li><li style="display: list-item;">Outparcel sales: Selective disposition of two outparcels in Year 4 (7 Brew standalone and a multi-tenant outparcel), expected to command lower cap rates than in-line retail. Net proceeds from these sales are distributed directly to investors as realized</li></ul>Key Tenants<ul style="list-style-type: disc; padding-left: 22px; margin: 6px 0px 10px;"><li style="display: list-item;">ShopRite (Wakefern Food Corp.)</li><li style="display: list-item;">TJ Maxx (TJX Companies, NYSE: TJX)</li><li style="display: list-item;">Hartford HealthCare</li><li style="display: list-item;">HomeGoods (TJX Companies)</li><li style="display: list-item;">HomeSense (TJX Companies)</li><li style="display: list-item;">Staples</li><li style="display: list-item;">Harbor Freight Tools</li><li style="display: list-item;">Dollar Tree</li><li style="display: list-item;">Five Below</li></ul>Property Details<ul style="list-style-type: disc; padding-left: 22px; margin: 6px 0px 10px;"><li style="display: list-item;">Address: 35 Talcottville Road, Vernon, CT 06066</li><li style="display: list-item;">Year built / renovated: 1963 / 1991</li><li style="display: list-item;">Total GLA: 295,817 SF across 24.10 acres</li><li style="display: list-item;">26 tenants with a diversified mix of grocery, retail, dining, healthcare, and services</li><li style="display: list-item;">Anticipated closing: June 2026</li></ul>Competitive ContextRecent retail sale comparables support the acquisition basis. The 15 closest regional comps closed at an average price of $357/SF and 6.49% cap rate, with local submarket comps including The Plaza at Buckland Hills (308,000 SF, sold December 2024 at $219/SF, 7.30% cap) and Bristol Plaza (263,829 SF, sold December 2025 at $167/SF, 6.50% cap). Tri-City Plaza's acquisition at $211/SF and 7.1% cap rate compares favorably within the competitive set. * Source: Based Placer.ai visits statistics.** Any change to the terms of the loan, including interest rates, may affect the forecasts and the financial models as presented in this investment memorandum. Note: the loan agreement and ancillary documents are not yet finalized.