The Project Property is acquired by the New Limited Partnership. During the option period the New Limited Partnership or the Gatehouse Group may already be working to advance the Project Property by preparing rezoning applications, engaging engineers, architects and obtaining necessary third-party reports.

The investment structure of for that Project Property is finalized and Gatehouse Partners instructs its advisors to assist it in preparing investor documents such as term sheets, subscription agreements, financial statements, an offering memorandum, and marketing material providing key information investors need before making an informed investment.

Gatehouse Partners through exempt market dealers makes the securities of Gatehouse Real Estate Trust (“Gatehouse Trust”) and the New Limited Partnership.

With the financing closed, Gatehouse Partners with assistance from the Gatehouse Group sources debt financing for the Project Property and the Gatehouse Group performs development management and general contracting alongside other trades to advance the project. Once all required rezoning applications and permits have been received construction starts on the Project Property.

Once all residential unit sales are completed on the Project Property, and all expenses have been paid and a contingency reserved, Gatehouse Partners together with the Project Property will declare distributable income and make the required distributions in accordance with the Limited Partnership Agreement associated with the Project Property. Once all units have been redeemed and distribution have been made the New Limited Partnership for the Project Property will cease to exist.

Investors may have the option to reinvest their original equity investment and any distributions received into a new Project Property. Prior to any such investments, investors will receive new investor documents and will be asked to reconfirm they are still a qualified investor under the applicable securities laws.