PEACHTREE TO INVEST $1 BILLION IN REAL ESTATE CREDIT

PEACHTREE GROUP, A commercial real estate investment firm with a $6.4 billion portfolio, has secured approximately $660 million in credit investments
since Dec. 1, with an additional $350 million expected to close within the next 30 to 45 days. These investments focus on hotels, multifamily, industrial, and
student housing, Peachtree said in a statement.

“We are witnessing heightened activity in response to the anticipation of sustained elevated interest rates and continued reductions in bank exposure,” said
Greg Friedman, Peachtree Group’s managing principal/CEO. “The pressing need to refinance maturing debt, estimated at $2.8 trillion in U.S. commercial real
estate debt by the end of 2028, is a growing concern. Commercial real estate stakeholders are grappling with the challenges of increased capital costs and
constrained liquidity, particularly in securing capital for acquisitions, recapitalizations and development initiatives.”

Peachtree recently closed one of its largest individual credit transactions to date, securing a $102.9 million, three-year loan to recapitalize a 350-room
Marriott dual-brand AC Hotel Sunnyvale Moffett Park and TETRA Hotel, Autograph Collection in Sunnyvale, California, the statement added.