Epstein Secrets

uch jurisdiction. Interests that are acquired by persons not entitled to hold them will be compulsorily redeemed. In this Memorandum, references to the "United States" or "U.S." will mean the United States of America, its territories and possessions, any state thereof and the District of Columbia. References to "S

r of the New York Stock Exchange, Inc. and other principal securities exchanges. The offices of the Administrator are located at 1285 Avenue of the Americas, New York, New York 10019, and its telephone number is (800) 486-2608. The Administrator may, directly or indirectly, assign all or any part of its

d from foreign corporations if such foreign corporations are qualified foreign corporations of a foreign country which has an income tax treaty with the United States, which the U.S. Treasury Department determines to be satisfactory for these purposes and which includes an exchange of information provision, or if

such income is not debt-financed, as discussed below. UBTI also includes certain insurance income derived by a CFC if a tax-exempt organization is a "United States Shareholder" (as defined in the Code) with respect to such CFC. A tax-exempt entity deriving gross income characterized as UBTI that equals or exce

5' (For $ in thousands) Fund Investment Period Invested Capitals Net IRR6 BREP Intl '01-05 E657,699 23% BREP Intl II '06-08 1,398,799 6% BREP Europe III '09-13 2,937,663 20% BREP Europe IV '13-Present 3 902 316 21% Total Europe Funds E8,896,477 14% Pre BREP '91-93 $140,714 33% BREP I '

rope Acquisitions and is based in London. Since joining Blackstone in 2011, Mr. Seppala has been involved in a number of Blackstone's investments in the United States and in Europe. Prior to joining Blackstone in 2011, Mr. Seppala was a Vice President at Goldman Sachs & Co, where he spent 10 years focused on equit

nds. Prior to joining Blackstone, Mr. Nash was with Merrill Lynch from 1997 to 2007 where he led the finn's Real Estate Principal Investment Group - Americas. Prior to 1997, Mr. Nash held various positions with Barclays Bank, Bank of Nova Scotia and Dcloitte Haskins & Sells. Mr. Nash received a B.S. in Ac

me, certain income from sales and services), regardless of cash distributions from the company. In addition, gain on the sale of the CFC's stock by a United States Shareholder (during the period that the corporation is a CFC and thereafter for a five-year period) would be classified in whole or in part as a div

fair and equitable allocation of expenses. Logicor. Portfolio Vehicles arc expected to engage Logicor, an operating platform owned by BREP VII and BREP Europe III, to provide management and leasing oversight and corporate services to logistics assets. Multi Corporation. Portfolio Vehicles are expected to enga

INTERESTS WILL BE PROVIDED BY THE PARTNERSHIP FROM THE UNITED STATES ONLY; AND THE PARTNERSHIP WILL NOT BE AND IS NOT INTENDED TO BE REGISTERED IN THE UNITED STATES OR IN THE REPUBLIC OF AZERBAIJAN. AN INVESTMENT INTO THE PARTNERSHIP BY AN AZERBAIJAN RESIDENT MAY BE SUBJECT TO CERTAIN RESTRICTIONS, LIMITATIONS

526.000 536.669 806796 1,343,465 817.465 267% November 2010 U.K. PrepCo Bondi" 2.987 - 159 159 (2,828) (56.4%) Moy 2011 1140 Avenue of Americas" 54,681 - 82,413 82,413 27,732 11.0% June NH 1 Stratford Cate' 9.316 - 11.933 11.935 2.619 60% Austen 2011 BREP Pohnd Retail Venture"

_1_ Blackstone Real Estate Partners Europe V 153 CONFIDENTIAL UBSTERRAMAR00002000 EFTA00237631 Overview of Blackstone Real Estate Investments BREP Europe III Investment Record (E Thousands) Bute of Initial Investment Invromem Stpicoll/cr 30. 2015 Total Ina. led Ca Reath/et! Proceed. l'ortIlii/