MERION LEGAL

Merion Realty Partners is a d/b/a of Merion Realty Advisers, LLC (“MRA”) along with other related businesses.  MRA has been a federally registered investment adviser with the Securities and Exchange Commission since October 2011, although registration does not constitute an endorsement by any securities regulator.  Certain private funds or joint ventures organized by Merion professionals may be advised by MRA.  Other assets or investments of Merion having a direct or indirect ownership of a fee interest in real property are not advised accounts whereby investors are not afforded the protections under the Investment Advisers Act of 1940, as amended, and the rules promulgated thereunder.  Additional information about registered investment advisers and their current financial industry affiliations is available on the SEC’s website at www.adviserinfo.sec.gov.  This website is intended solely to provide information regarding Merion Realty Partners for prospective portfolio companies, joint venture partners or other real estate related investment professionals and is intended exclusively for use by persons or entities which are potential users of Merion Realty Partners’ services, sponsored products or investment capital.  The information provided herein (i) is not an offer of interests in Merion Realty Partners or any other investment product, (ii) is not a recommendation or endorsement of any portfolio company and (iii) is not intended to depict or predict the performance or results of Merion Realty Partners.  Past performance information and experiences relating to Merion Realty Partners, its portfolio companies or those portfolio companies or managed assets in which its principals have invested is not a guarantee or predictor of future results of any company or asset in or to which Merion Realty Partners invests or provides services.