b"Property Manager An entity, which may be an unrelated third party or an affiliate of the asset manager, whose role is to take care of the day-to-day activities related to a property's physical structure and operations. Properties This term refers to seal property owned by a syndicate or fund, and is sometimes used interchangeably with the word assets when appropriate for the context in which it appears.Purchaser Representative Apersondesignatedbyaninvestortoadvisethemregardingthe purchase of securities in a private placement. A purchaser representative should be someone who is NOT connected with the asset manager as an affiliate, director, officer or employee, and does not own more than 10% of anyclassofequityinterests(unlessrelatedtothepurchaserbyblood, marriage or adoption and a familial relationship. Real Estate Syndicate or Fund A group formed to pool resources to purchase, rehabilitate, operate, and eventuallysellrealestate.Thewordsyndicatetypicallyreferstoa specified offering for one or more pre-identified properties, while the word fund typically refers to a multi-property offering where the properties have not yet been identified, but will be acquired based on a business plan (investment summary). 308"