The brand “PGIM” (and the formerly-used brand “PGIM Real Estate”) encompass both (1) a real estate fund advisory business headquartered in Newark, New Jersey, which operates as a business unit of PGIM, Inc ., an SEC-registered investment adviser organized as a New Jersey corporation, formerly under the name “PGIM Real Estate”, and (2) a commercial real estate debt origination and asset management platform which operates through a separate, affiliated legal entity known as PGIM Real Estate Finance, LLC (“PGIM REF”), a Delaware limited liability company. Several officers of PGIM REF are also associated with PGIM, Inc., and, from time-to-time, may provide services to PGIM in their capacities as officers of PGIM that are separate and distinct from the services they provide as officers of PGIM REF. PGIM Real Estate Finance, LLC is registered with the California Department of Financial Protection & Innovation under license number 60DBO-105210. Loans made or arranged pursuant to a California Finance Lenders Law license.