Common use of INITIAL INVESTMENT Clause in Contracts

INITIAL INVESTMENT. The Advisor or one of its Affiliates has contributed $200,000 (the “Initial Investment”) in exchange for the initial issuance of Shares of the Company. The Advisor or its Affiliates may not sell any of the Shares purchased with the Initial Investment while the Advisor acts in an advisory capacity to the Company. The restrictions included above shall not apply to any Shares acquired by the Advisor or its Affiliates other than the Shares acquired through the Initial Investment. Neither the Advisor not its Affiliates shall vote any Shares they now own, or hereafter acquire, or consent that such Shares be voted, on matters submitted to the Stockholders regarding (i) the removal of RREEF America L.L.C. or any of its Affiliates as the Advisor; (ii) the removal of any member of the Board; or (iii) any transaction by and between the Company and the Advisor, a member of the Board or any of their Affiliates.

INITIAL INVESTMENT. The Advisor Adviser or one of its Affiliates has contributed $200,000 (the “Initial Investment”) in exchange for the initial issuance of Shares of the Company. The Advisor Adviser or its Affiliates may not sell any of the Shares purchased with the Initial Investment while the Advisor Adviser acts in an advisory capacity to the Company. The restrictions included above shall not apply to any Shares acquired by the Advisor Adviser or its Affiliates other than the Shares acquired through the Initial Investment. Neither the Advisor not Adviser nor its Affiliates shall vote any Shares they now own, or hereafter acquire, or consent that such Shares be voted, on matters submitted to the Stockholders regarding (i) the removal of RREEF America L.L.C. or any of its Affiliates X.X. Xxxxxx Investment Management Inc. as the AdvisorAdviser; (ii) the removal of any member of the Board; or (iii) any transaction by and between the Company and the AdvisorAdviser, a member of the Board or any of their Affiliates.. [Signature Page Follows]

INITIAL INVESTMENT. The Advisor Adviser or one of its Affiliates has contributed $200,000 (the “Initial Investment”) in exchange for the initial issuance of Shares of the Company. The Advisor Adviser or its Affiliates may not sell any of the Shares purchased with the Initial Investment while the Advisor Adviser acts in an advisory capacity to the Company. The restrictions included above shall not apply to any Shares acquired by the Advisor Adviser or its Affiliates other than the Shares acquired through the Initial Investment. Neither the Advisor not Adviser nor its Affiliates shall vote any Shares they now own, or hereafter acquire, or consent that such Shares be voted, on matters submitted to the Stockholders regarding (i) the removal of RREEF America L.L.C. or any of its Affiliates ARIS Management, LLC as the AdvisorAdviser; (ii) the removal of any member of the Board; or (iii) any transaction by and between the Company and the AdvisorAdviser, a member of the Board or any of their Affiliates.

INITIAL INVESTMENT. The Advisor Adviser or one of its Affiliates has contributed $200,000 (the “Initial Investment”) in exchange for the initial issuance of Shares of the CompanyShares. The Advisor Adviser or its Affiliates may not sell any of the Shares purchased with the Initial Investment while the Advisor Adviser acts in an advisory capacity to the Company. The restrictions included above shall not apply to any Shares acquired by the Advisor Adviser or its Affiliates other than the Shares acquired through the Initial Investment. Neither the Advisor Adviser not its Affiliates shall vote any Shares they now own, or hereafter acquire, or consent that such Shares be voted, on matters submitted to the Stockholders regarding (i) the removal of RREEF America L.L.C. the Adviser or any of its Affiliates as the AdvisorAdviser; (ii) the removal of any member of the Board; or (iii) any transaction by and between the Company and the AdvisorAdviser, a member of the Board or any of their Affiliates.

INITIAL INVESTMENT. The Advisor Adviser or one of its Affiliates has contributed $200,000 (the “Initial Investment”) in exchange for the initial issuance of Shares of the Company. The Advisor Adviser or its Affiliates may not sell any of the Shares purchased with the Initial Investment while the Advisor Adviser acts in an advisory capacity to the Company. The restrictions included above shall not apply to any Shares acquired by the Advisor Adviser or its Affiliates other than the Shares acquired through the Initial Investment. Neither the Advisor not Adviser nor its Affiliates shall vote any Shares they now own, or hereafter acquire, or consent that such Shares be voted, on matters submitted to the Stockholders regarding (i) the removal of RREEF America BX REIT Advisors L.L.C. or any of its Affiliates as the AdvisorAdviser; (ii) the removal of any member of the Board; or (iii) any transaction by and between the Company and the AdvisorAdviser, a member of the Board or any of their Affiliates.

INITIAL INVESTMENT. The Advisor Adviser or one of its Affiliates has contributed $200,000 (the “Initial Investment”) in exchange for the initial issuance of Shares of the Company. The Advisor Adviser or its Affiliates may not sell any of the Shares purchased with the Initial Investment while the Advisor Adviser acts in an advisory capacity to the Company. The restrictions included above shall not apply to any Shares acquired by the Advisor Adviser or its Affiliates other than the Shares acquired through the Initial Investment. Neither the Advisor not Adviser nor its Affiliates shall vote any Shares they now own, or hereafter acquire, or consent that such Shares be voted, on matters submitted to the Stockholders regarding (i) the removal of RREEF America L.L.C. or any of its Affiliates BentallGreenOak (U.S.) Limited Partnership as the AdvisorAdviser; (ii) the removal of any member of the Board; or (iii) any transaction by and between the Company and the AdvisorAdviser, a member of the Board or any of their Affiliates.

INITIAL INVESTMENT. The Advisor or one of its Affiliates has contributed $200,000 (the “Initial Investment”) in exchange for the initial issuance of Shares of the Company. The Advisor or its Affiliates may not sell any of the Shares purchased with the Initial Investment while the Advisor acts in an advisory capacity to the Company. The restrictions included above shall not apply to any Shares acquired by the Advisor or its Affiliates other than the Shares acquired through the Initial Investment. Neither the Advisor not nor its Affiliates shall vote any Shares they now own, or hereafter acquire, or consent that such Shares shares be voted, on matters submitted to the Stockholders regarding (i) the removal of RREEF America L.L.C. Xxxx Real Estate Income Strategy (Daily NAV) Advisors, LLC or any of its Affiliates as the Advisor; (ii) the removal of any member of the Board; or (iii) any transaction by and between the Company and the Advisor, a member of the Board or any of their Affiliates.

INITIAL INVESTMENT. The Advisor or one of its Affiliates has contributed $200,000 (the “Initial Investment”) in exchange for the initial issuance of Shares of the Company. The Advisor or its Affiliates may not sell any of the Shares purchased with the Initial Investment while the Advisor acts in an advisory capacity to the Company. The restrictions included above shall not apply to any Shares acquired by the Advisor or its Affiliates other than the Shares acquired through the Initial Investment. Neither the Advisor not nor its Affiliates shall vote any Shares they now own, or hereafter acquire, or consent that such Shares be voted, on matters submitted to the Stockholders regarding (i) the removal of RREEF America L.L.C. or any of its Affiliates Xxxxx & Steers Capital Management, Inc. as the Advisor; (ii) the removal of any member of the Board; or (iii) any transaction by and between the Company and the Advisor, a member of the Board or any of their Affiliates.

INITIAL INVESTMENT. The Advisor or one of its Affiliates has contributed $200,000 (the “Initial Investment”) in exchange for the initial issuance of Shares of the Company. The Advisor or its Affiliates may not sell any of the Shares purchased with the Initial Investment while the Advisor acts in an advisory capacity to the Company. The restrictions included above shall not apply to any Shares acquired by the Advisor or its Affiliates other than the Shares acquired through the Initial Investment. Neither the Advisor not nor its Affiliates shall vote any Shares they now own, or hereafter acquire, or consent that such Shares be voted, on matters submitted to the Stockholders regarding (i) the removal of RREEF America L.L.C. or any of its Affiliates TH Real Estate Global Cities Advisors, LLC as the Advisor; (ii) the removal of any member of the Board; or (iii) any transaction by and between the Company and the Advisor, a member of the Board or any of their Affiliates.

INITIAL INVESTMENT. The Advisor Adviser or one of its Affiliates has contributed $200,000 (the “"Initial Investment”") in exchange for the initial issuance of Shares of the Company. The Advisor Adviser or its Affiliates may not sell any of the Shares purchased with the Initial Investment while the Advisor Adviser acts in an advisory capacity to the Company. The restrictions included above shall not apply to any Shares acquired by the Advisor Adviser or its Affiliates other than the Shares acquired through the Initial Investment. Neither the Advisor not Adviser nor its Affiliates shall vote any Shares they now own, or hereafter acquire, or consent that such Shares be voted, on matters submitted to the Stockholders regarding (i) the removal of RREEF America L.L.C. or any of its Affiliates ARIS Management, LLC as the AdvisorAdviser; (ii) the removal of any member of the Board; or (iii) any transaction by and between the Company and the AdvisorAdviser, a member of the Board or any of their Affiliates.

INITIAL INVESTMENT. The Advisor or one of its Affiliates has contributed $200,000 (the “Initial Investment”) in exchange for the initial issuance of Shares of the Company. The Advisor or its Affiliates may not sell any of the Shares purchased with the Initial Investment while the Advisor acts in an advisory capacity to the Company. The restrictions included above shall not apply to any Shares acquired by the Advisor or its Affiliates other than the Shares acquired through the Initial Investment. Neither the Advisor not nor its Affiliates shall vote any Shares they now own, or hereafter hereinafter acquire, or consent that such Shares to be voted, voted on matters submitted to the Stockholders regarding (i) the removal of RREEF America L.L.C. Xxxx REIT Advisors IV, LLC or any of its Affiliates as the Advisor; (ii) the removal of any member of the Board; Board or (iii) any transaction by and between the Company and the Advisor, a member of the Board or any of their Affiliates.

INITIAL INVESTMENT. The Advisor or one of its Affiliates has contributed $200,000 (the “Initial Investment”) in exchange for the initial issuance of Shares of the Company. The Advisor or its Affiliates may not sell any of the Shares purchased with the Initial Investment while the Advisor acts in an advisory capacity to the Company. The restrictions included above shall not apply to any Shares acquired by the Advisor or its Affiliates other than the Shares acquired through the Initial Investment. Neither the Advisor not nor its Affiliates shall vote any Shares they now own, or hereafter acquireacquires, or consent that such Shares to be voted, voted on matters submitted to the Stockholders regarding (i) the removal of RREEF America L.L.C. Xxxx REIT Advisors V, LLC or any of its Affiliates as the Advisor; (ii) the removal of any member of the Board; Board or (iii) any transaction by and between the Company and the Advisor, a member of the Board or any of their Affiliates.

INITIAL INVESTMENT. The Advisor or one of its Affiliates has contributed $200,000 (the “Initial Investment”) in exchange for the initial issuance of Shares of the Company. The Advisor or its Affiliates may not sell any of the Shares purchased with the Initial Investment while the Advisor acts in an advisory capacity to the Company. The restrictions included above shall not apply to any Shares acquired by the Advisor or its Affiliates other than the Shares acquired through the Initial Investment. Neither the Advisor not nor its Affiliates shall vote any Shares they now own, or hereafter acquireacquires, or consent that such Shares to be voted, voted on matters submitted to the Stockholders regarding (i) the removal of RREEF America L.L.C. Xxxx Corporate Income Advisors II, LLC or any of its Affiliates as the Advisor; (ii) the removal of any member of the Board; Board or (iii) any transaction by and between the Company and the Advisor, a member of the Board or any of their Affiliates.

INITIAL INVESTMENT. The Advisor Adviser or one of its Affiliates has contributed $200,000 (the “Initial Investment”) in exchange for the initial issuance of Shares of the Company. The Advisor Adviser or its Affiliates may not sell any of the Shares purchased with the Initial Investment while the Advisor Adviser acts in an advisory capacity to the Company. The restrictions included above shall not apply to any Shares acquired by the Advisor Adviser or its Affiliates other than the Shares acquired through the Initial Investment. Neither the Advisor not Adviser nor its Affiliates shall vote any Shares they now own, or hereafter acquire, or consent that such Shares be voted, on matters submitted to the Stockholders regarding (i) the removal of RREEF America L.L.C. or any of its Affiliates J.X. Xxxxxx Investment Management Inc. as the AdvisorAdviser; (ii) the removal of any member of the Board; or (iii) any transaction by and between the Company and the AdvisorAdviser, a member of the Board or any of their Affiliates.

INITIAL INVESTMENT. The Advisor or one of its Affiliates has contributed $200,000 (the “Initial Investment”) in exchange for the initial issuance of Shares of the CompanyClass P Shares. The Advisor or its Affiliates may not sell any of the Shares purchased with the Initial Investment while the Advisor acts in an advisory capacity to the Company. The restrictions included above shall not apply to any Shares acquired by the Advisor or its Affiliates other than the Shares acquired through in the amount of the Initial Investment. Neither the Advisor not its Affiliates shall vote any Shares they now own, or hereafter acquire, or consent that such Shares be voted, on matters submitted to the Stockholders regarding (i) the removal of RREEF America L.L.C. Inland InPoint Advisor, LLC or any of its Affiliates as the Advisor; (ii) the removal of any member of the BoardBoard of Directors; or (iii) any transaction by and between the Company and the Advisor, a member of the Board of Directors or any of their Affiliates.