SUBSCRIPTION AGREEMENT BETWEEN PREDEX (THE "FUND") AND THE INVESTOR LETTER OF INVESTMENT INTENT

SUBSCRIPTION AGREEMENT BETWEEN PREDEX (THE "FUND") AND THE INVESTOR

LETTER OF INVESTMENT INTENT

To the Board of Trustees of PREDEX:

The undersigned (the "Purchaser") hereby subscribes to purchase a beneficial interest ("Interest") in the Fund, in the amount of $100,000.00 for 10,000 shares at net asset value of $10.00 per share, in consideration for which the Purchaser agrees to transfer to you upon demand cash in the amount of $100,000.00.

The Purchaser agrees that the Interest is being purchased for investment purposes only and with no present intention of reselling or redeeming said Interest.

Effective: March 21, 2013

PREDEX Capital Management, LLC

By: /s/ J. Xxxxxxx Xxxxxxx

J. Xxxxxxx Xxxxxxx

Managing Principal