Dear Investor,

Please find enclosed the December 2024 report for Oasis at Ballast Point. The GP and PM teams' hard work is bearing fruit, with our highest occupancy and highest monthly NOI since acquiring the property. The operational focus now is to push all operational metrics to further increase NOI.

We entered this property with a 3-year bridge loan, which is expiring in March 2025. We are actively negotiating with lenders and equity providers to identify the most attractive terms to either extend the current loan or refinance into a new one. All courses of action will likely require some additional equity into the deal. As we get more clarity on the financing options, we will be holding a webinar in late January or early February to share the options with you. Please be on the lookout for a webinar invitation in the coming days.

The full 2024 year-end report will be delivered once December financials are finalized.

With Gratitude,

The Oasis Team

Alain, Jim/Rhina, Josh, Rhea/George, San