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Access to institutional U.S. core real estate funds

PREDEX is an interval fund designed to offer access to private core real estate through investment in flagship U.S. core property funds managed by leading institutional real estate sponsors. Many of the targeted institutional private funds are included in the NCREIF Fund Index – Open End Diversified Core Equity (NFI-ODCE).

The underlying institutional funds own high-quality office, industrial, retail, and apartment properties primarily located across the top 25 U.S. metropolitan areas. Income from these properties (after expenses) is passed through the funds to PREDEX, which intends to provide quarterly distributions to its shareholders.

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The Fund is a continuously offered, closed-end management investment company that is operated as an interval fund. Shares of the Fund will not be listed on any securities exchange, are not redeemable and not appropriate for investors requiring liquidity. You may receive little or no return on your investment or you may lose money by investing in the Fund.

The Fund will not invest in real estate directly but will concentrate its investments in other funds that invest principally in real estate and real estate related industry securities (“Underlying Investment Vehicles”). Portfolio returns will be significantly impacted by the performance of the real estate market. In general, real estate values can be affected by a variety of factors: supply and demand for properties, the economic health of the country or of different regions, and the strength of specific industries that rent properties.

PREDEX’s distribution policy may, under certain circumstances, have certain adverse consequences to the Fund and its shareholders because it results in a payment that is a return of capital, rather than a distribution. Fund shareholders will bear two layers of fees and expenses: asset-based fees and expenses at the PREDEX level, and asset-based fees, incentive allocations or fees and expenses at the Underlying Investment Vehicle level. PREDEX’s performance depends in large part upon the performance of the Underlying Investment Vehicle managers and their selected strategies. The Fund is non-diversified and its performance may be more sensitive to any single economic, business, political or regulatory occurrence because PREDEX may invest more than 5% of its total assets in the securities of one or more issuers.

Liquidity only provided through quarterly repurchase offers for no less than 5% of the Fund’s shares at net asset value. There is no guarantee that an investor will be able to sell all shares in a repurchase offer. Quarterly repurchases by PREDEX of its shares typically will be funded from available cash or sales of portfolio securities. Payment for repurchased shares may require PREDEX to liquidate portfolio holdings earlier than the Adviser otherwise would liquidate such holdings, potentially resulting in losses. The use of leverage (borrowing money to purchase properties or securities) will cause an Underlying Investment Vehicle to incur additional expenses and significantly magnify losses in the event of underperformance of the assets purchased with borrowed money.

Investors should carefully consider the investment objectives, risks, charges and expenses of PREDEX. This and other important information about the Fund is contained in the prospectus, which can be obtained by calling 1-877-940-7202. The prospectus should be read carefully before investing. PREDEX is distributed by Northern Lights Distributors, LLC, Member FINRA/SIPC. Union Square Capital Partners, LLC is not affiliated with Northern Lights Distributors, LLC.

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