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Ardent Real Estate (the Fund) operates as an unregulated collective investment scheme (defined within s235 of the Financial Services and Markets Act (FSMA) 2000).

The Fund does not have the approval of the Financial Conduct Authority (FCA) or any other regulatory body.

The Fund invests in real estate and real estate related products, which are not recognised as regulated investment products.

Promotion of the Fund is strictly controlled by authorised persons. Accordingly, Ardent Real Estate will take all reasonable steps to verify the suitability of potential investors. Eligible investors may include:

Established / newly accepted investors. Defined as any authorised person in respect of whom that authorised person has taken reasonable steps to ensure that an investment in 'the Fund' is suitable within the meaning of the FCA's Conduct of Business Sourcebook 4.12 and 'professional clients' and 'eligible counterparties' of such authorised person.

Sophisticated Investors – See article 23 FSMA Promotion of Collective Investment Schemes (Exemptions) Order 2001, being a person certified in writing to the effect that he/she is sufficiently knowledgeable to understand the risks associated with participating in unregulated schemes.

High net worth companies, unincorporated associations, partnerships or trustees of high value trusts – See article 22 FSMA Promotion of Collective Investment Schemes (Exemptions) Order 2001.

Investment Professionals – defined within article 14 FSMA.

US investors – Shares may be deemed to be securities under the security laws of the United States and have not been registered under the Securities Act of 1933, as amended or qualified, approved or disapproved under any other federal or state securities laws. Neither the US Securities and Exchange Commission (SEC) nor any other federal or state regulatory authority has passed on or endorsed the merits of this offering or the accuracy or adequacy of the memorandum. Any representation to the contrary is unlawful.

Other Non UK investors – Please seek advice within your respective jurisdiction concerning any possible restrictions.

Eligible investors will be provided with a confidential information 'memorandum', given to the recipient solely for the purpose of evaluating an investment in the shares.

Please note that past performance is no guarantee of future performance, that the value of investments may fall as well as rise and that you may not get back any amount originally invested.