Marketplace

1. This is not a solicitation or offer to purchase securities. Investing in real estate poses risks related to economic conditions as well as risks
related to individual property, credit, and interest-rate fluctuations. These risks, among others, may result in greater value volatility. Past
performance by the Aclaime Group, its affiliates or their key personnel or their respective investments will not necessarily be indicative
of future performance of the funds or their investments.
睿德发展有限责任公司

2. This is not a solicitation or offer to purchase securities. Investing in real estate poses risks related to economic conditions as well as risks
related to individual property, credit, and interest-rate fluctuations. These risks, among others, may result in greater value volatility. Past
performance by the Aclaime Group, its affiliates or their key personnel or their respective investments will not necessarily be indicative
of future performance of the funds or their investments.
Utah Overview
Census Information (Population 2013)
•Population 2.9MM
•Population growth 5% (2010-2013)
•33rd –most populous state
•30.9% of persons under age 18
•9.7% of persons over age 65
•Job growth rate 3.5%, 1st in Nation
•Fastest Growing state in 2008
Census Information (Housing & Education 2013)
•1,006,164 housing units 2013
•3.09 persons per household
• 70.4% home ownership rate 2007-2011
•90.6% high school graduate or higher over age 25
•29.9% bachelors degree or higher over age 25
•Mean travel time to work 21.5 minutes; 14-20 miles avg
*NOTICE: This material is qualified in its entirety by the RED Development LLC (“we”, “our”, “us”, or the “Company”) Confidential Private Placement Memorandum as may be amended or
supplemented from time to time (the “Memorandum”) which contains more complete information including risk factors. This material also contains forward-looking statements and
hypothetical economic forecasts that may not be realized. By receiving or viewing this material, you acknowledge and agree not to rely upon it in making an investment decision. Please read
the Memorandum. This material does not constitute or form a part of any offer to sell or solicitation to buy securities nor shall it or any part of it form the basis of any contract or commitment
whatsoever. Without limiting the foregoing, this material does not constitute an offer or solicitation in any jurisdiction in which such an offer or solicitation is not permitted under applicable

3. This is not a solicitation or offer to purchase securities. Investing in real estate poses risks related to economic conditions as well as risks
related to individual property, credit, and interest-rate fluctuations. These risks, among others, may result in greater value volatility. Past
performance by the Aclaime Group, its affiliates or their key personnel or their respective investments will not necessarily be indicative
of future performance of the funds or their investments.
犹他州 概观
人口普查信息（房屋及教育2013年）
•2013 年拥有1,006,164套住房；
•平均每3.09人拥有一套住房；
• 2007年-2011年，住房拥有率为70.4％；
•25岁以上居民高中及以上受教育程度比率为90.6%
•25岁以上居民本科及以上受教育程度比率为29.9%
•用于上班的交通时间时间平均21.5分钟，平均距离
14-20英里
人口普查信息（人口2013年）
*人口2.9百万
* 人口增长率5％（2010-2013年）
*人口数居美国各州第33位
* 18岁以下的人口占30.9％
* 65岁以上的人口占9.7％
* 就业增长速度为3.5％，全国第一
* 2008年成长最快的州
*注意：以上材料的真确是按照睿德发展有限责任公司(“我们”或“公司”)的私募备忘录(PPM)。私募备忘录可能存在时间性的修正或补充，其中包含了更完整的信息，包括风险因
素。以上材料还含有前瞻性陈述以及可能无法实现的经济预测。通过接收或查看这些材料，您承认并同意不依靠它在作出投资决定。请阅读备忘录。此材料并不构成或形成任何销
售要约或招揽购买证券也不得构成任何合约或承诺的基础。除前述规定以外，备忘录并不构成向位于不允许要约或招揽的其他管辖区的任何人进行要约或招揽或任何人不属于《证
券法》第501(a)条中定义的“合格投资人”或任何人不具备在备忘录中描述的资格。不是出售要约或招揽购买。请阅读备忘录。

4. This is not a solicitation or offer to purchase securities. Investing in real estate poses risks related to economic conditions as well as risks
related to individual property, credit, and interest-rate fluctuations. These risks, among others, may result in greater value volatility. Past
performance by the Aclaime Group, its affiliates or their key personnel or their respective investments will not necessarily be indicative
of future performance of the funds or their investments.
Utah Economy Overview
•Utah ranked #1 highest economic outlook in the United States by the American Legislative Exchange Council
•Utah has 3 cities ranked in the top 100 places to live in America. Draper City, next to our project, is ranked #18.
Utah is ranked #1 Safest State in America to live!
Sources
• http://business.utah.gov/wp-content/uploads/2014UtahEconomicOutlook.pdf
• http://utahpropertyinvestors.com/ut-realestate/nai-west-mid-year-market-report/
• http://www.ksl.com/index.php?sid=35093050&nid=481
• http://kutv.com/news/local/magazine-ranks-3-utah-cities-among-best-to-live-in-us
*NOTICE: This material is qualified in its entirety by the RED Development LLC (“we”, “our”, “us”, or the “Company”) Confidential Private Placement Memorandum as may be amended or
supplemented from time to time (the “Memorandum”) which contains more complete information including risk factors. This material also contains forward-looking statements and
hypothetical economic forecasts that may not be realized. By receiving or viewing this material, you acknowledge and agree not to rely upon it in making an investment decision. Please read
the Memorandum. This material does not constitute or form a part of any offer to sell or solicitation to buy securities nor shall it or any part of it form the basis of any contract or commitment
whatsoever. Without limiting the foregoing, this material does not constitute an offer or solicitation in any jurisdiction in which such an offer or solicitation is not permitted under applicable

5. This is not a solicitation or offer to purchase securities. Investing in real estate poses risks related to economic conditions as well as risks
related to individual property, credit, and interest-rate fluctuations. These risks, among others, may result in greater value volatility. Past
performance by the Aclaime Group, its affiliates or their key personnel or their respective investments will not necessarily be indicative
of future performance of the funds or their investments.
犹他州经济 概观
*注意：以上材料的真确是按照睿德发展有限责任公司(“我们”或“公司”)的私募备忘录(PPM)。私募备忘录可能存在时间性的修正或补充，其中包含了更完整的信息，包括风险因
素。以上材料还含有前瞻性陈述以及可能无法实现的经济预测。通过接收或查看这些材料，您承认并同意不依靠它在作出投资决定。请阅读备忘录。此材料并不构成或形成任何销
售要约或招揽购买证券也不得构成任何合约或承诺的基础。除前述规定以外，备忘录并不构成向位于不允许要约或招揽的其他管辖区的任何人进行要约或招揽或任何人不属于《证
券法》第501(a)条中定义的“合格投资人”或任何人不具备在备忘录中描述的资格。不是出售要约或招揽购买。请阅读备忘录。
• 美国立法交流委员会排名犹他州为经济前景最高州分
• 美国最佳居住的100个城市当中,犹他州有3个城市有排名。德雷珀市，毗邻我们的项目，排名18。
犹他州在全美国最安全生活的州分中排名第一！
Sources
• http://business.utah.gov/wp-content/uploads/2014UtahEconomicOutlook.pdf
• http://utahpropertyinvestors.com/ut-realestate/nai-west-mid-year-market-report/
• http://www.ksl.com/index.php?sid=35093050&nid=481
• http://kutv.com/news/local/magazine-ranks-3-utah-cities-among-best-to-live-in-us

6. This is not a solicitation or offer to purchase securities. Investing in real estate poses risks related to economic conditions as well as risks
related to individual property, credit, and interest-rate fluctuations. These risks, among others, may result in greater value volatility. Past
performance by the Aclaime Group, its affiliates or their key personnel or their respective investments will not necessarily be indicative
of future performance of the funds or their investments.
Property Highlights Opportunity
We Believe in the Demographics
The Utah housing market from a psychographic stand point
(the way people think) is the most unified of all 50 states.
In particular, the entry level market is driven by the
conservative background of our dominate religion. This
conservative ethic is reflected in several ways that affect our
unique marketplace. Young people 20-29 who make up the
vast majority of our entry level market are on a whole, more
educated, have a higher work ethic, tend to save more and
have a greater desire for home ownership than most other
marketplaces. When you combine this with our high birth
rate you can see why our entry level marketplace offers so
many opportunities to Utah builders and developers.
The Density Meets Our Needs
While entry level housing usually leads most marketplaces out
of distressed times, Utah and particularly the Wasatch Front,
with its unique characteristics, is primed to show strong
growth in the near term. RED Development with its higher
density entitlements specifically planned for first time buyers
and amenities design to enhance the lifestyle of young families
is positioned perfectly to take advantage of this opportunity.
We plan on building town home units to sell to local entry level
buyers and also our Chinese investors in a price and structure
that allows them to sell finished homes for prices between
195K-220K.
*NOTICE: This material is qualified in its entirety by the RED Development LLC (“we”, “our”, “us”, or the “Company”) Confidential Private Placement Memorandum as may be amended or
supplemented from time to time (the “Memorandum”) which contains more complete information including risk factors. This material also contains forward-looking statements and
hypothetical economic forecasts that may not be realized. By receiving or viewing this material, you acknowledge and agree not to rely upon it in making an investment decision. Please read
the Memorandum. This material does not constitute or form a part of any offer to sell or solicitation to buy securities nor shall it or any part of it form the basis of any contract or commitment
whatsoever. Without limiting the foregoing, this material does not constitute an offer or solicitation in any jurisdiction in which such an offer or solicitation is not permitted under applicable

7. This is not a solicitation or offer to purchase securities. Investing in real estate poses risks related to economic conditions as well as risks
related to individual property, credit, and interest-rate fluctuations. These risks, among others, may result in greater value volatility. Past
performance by the Aclaime Group, its affiliates or their key personnel or their respective investments will not necessarily be indicative
of future performance of the funds or their investments.
物业亮点 机会
我们相信人口统计学
从心理学角度来看（人们的思维方式）在犹他州的住房市场是
所有50个州里面最统一的。特别是，主导宗教的保守背景驱动
了入门级市场。这种 作用于我们唯一的市场的保守的道德观念
体现在几个方面。 总体看来，与其他市场相比，20-29岁的年
轻人成为了我们入门级市场的主力军，他们有更高的受教育水
平，更高的工作热情，更好的节省意识，对于置业有更高的需
求。当你把这个与我们的高出生率联系在一起，你就会明白为
什么我们的就业市场提供了这么多的机会给犹他州建筑商和开
发商。
密度满足我们的需求
而入门级房地产市场通常会引导大多数市场走出艰难时期，犹他
州特别是瓦萨奇山前区，凭借其独特的特点，会在短期内表现出
强势的增长趋势。 WSDA发展部就是因为完美的定位于此而受益于
这次机会，他们为首次购买者提供了更高密度明确的权益计划和
舒适性设计，以提高年轻家庭的生活方式。我们计划建设小镇单
元房卖给当地的入门级买家和中国投资者，在价格和结构上使他
们可以把成品房卖到195K-220K。
*注意：以上材料的真确是按照睿德发展有限责任公司(“我们”或“公司”)的私募备忘录(PPM)。私募备忘录可能存在时间性的修正或补充，其中包含了更完整的信息，包括风险因
素。以上材料还含有前瞻性陈述以及可能无法实现的经济预测。通过接收或查看这些材料，您承认并同意不依靠它在作出投资决定。请阅读备忘录。此材料并不构成或形成任何销
售要约或招揽购买证券也不得构成任何合约或承诺的基础。除前述规定以外，备忘录并不构成向位于不允许要约或招揽的其他管辖区的任何人进行要约或招揽或任何人不属于《证
券法》第501(a)条中定义的“合格投资人”或任何人不具备在备忘录中描述的资格。不是出售要约或招揽购买。请阅读备忘录。

8. This is not a solicitation or offer to purchase securities. Investing in real estate poses risks related to economic conditions as well as risks
related to individual property, credit, and interest-rate fluctuations. These risks, among others, may result in greater value volatility. Past
performance by the Aclaime Group, its affiliates or their key personnel or their respective investments will not necessarily be indicative
of future performance of the funds or their investments.
Location Overview
Bluffdale is situated ideally at the south end of Salt Lake county,
just north of the Utah county line. Access is minutes from the
14600 South I-15 exit. The location is one of the last available
major land developments available in Salt Lake County on the I-15
corridor.
The location is excellent for those seeking to live in an up and
coming area surrounded by steady corporate growth which in turn
spurs the job market in this area. The location is also prime for
those who work further north in Salt Lake or further south in
Orem/Provo.
“Increasing demand for housing is starting to invigorate the residential
construction sector … Ivory Homes’ permit values hovered around $91MM for
four years, up through 2011. But last year, the value was up to $136.9MM
with 594 homes. This year, the company had already reached 650 homes by
the start of November.” – Utah Business 2014 Economic Forecast (6 Dec 2013)
Together, Adobe (left) and IM Flash (right) number 2,600
employees. Both having moved to new campuses in Lehi [across
the I-15 from Westgate], they greatly contribute to the 15.7%
growth in high tech jobs Utah has experienced. – CBRE 2014
U.S. Tech-Twenty: Measuring Office Market Impact
*NOTICE: This material is qualified in its entirety by the RED Development LLC (“we”, “our”, “us”, or the “Company”) Confidential Private Placement Memorandum as may be amended or
supplemented from time to time (the “Memorandum”) which contains more complete information including risk factors. This material also contains forward-looking statements and
hypothetical economic forecasts that may not be realized. By receiving or viewing this material, you acknowledge and agree not to rely upon it in making an investment decision. Please read
the Memorandum. This material does not constitute or form a part of any offer to sell or solicitation to buy securities nor shall it or any part of it form the basis of any contract or commitment
whatsoever. Without limiting the foregoing, this material does not constitute an offer or solicitation in any jurisdiction in which such an offer or solicitation is not permitted under applicable

9. This is not a solicitation or offer to purchase securities. Investing in real estate poses risks related to economic conditions as well as risks
related to individual property, credit, and interest-rate fluctuations. These risks, among others, may result in greater value volatility. Past
performance by the Aclaime Group, its affiliates or their key personnel or their respective investments will not necessarily be indicative
of future performance of the funds or their investments.
地点 概观
布拉夫戴尔坐落于盐湖县城的南端，紧贴犹他县城的北边界线。入口距离
14600 南部I-15出口很近。该位置是盐湖县在I-15走廊最后一批可以开发的
商用土地之一。
“对住房需求的增长已经开始振兴住宅建筑行业......直到2011年，象牙公
寓”的许可价值四年内一直徘徊在$91MM，但就在去年，有594家的价值
增长到了136.9MM。今年的11月初，数量已增长到650家。“ - 犹他州商
业2014年经济预测 (2013年12月6日)
到目前为止，拥有2600名员工的Adobe公司（左）和IM闪存（右），均搬迁到新校
区的李海【从西门横穿I-15 】，它们极大地促进了过去一段时间犹他州高科技工作
的就业率增长到15.7% ---技术-20：测量市场影响工作室
对于那些寻求居住在不断发展的地区的人们，这个位置是非常优越的，
因为环绕在周围的公司团体的稳定增长会进一步带动急速的的就业市
场的扩大。这个位置也为那些工作在盐湖的再往北或奥勒姆/普罗沃
再往南的人们做准备。
*注意：以上材料的真确是按照睿德发展有限责任公司(“我们”或“公司”)的私募备忘录(PPM)。私募备忘录可能存在时间性的修正或补充，其中包含了更完整的信息，包括风险因
素。以上材料还含有前瞻性陈述以及可能无法实现的经济预测。通过接收或查看这些材料，您承认并同意不依靠它在作出投资决定。请阅读备忘录。此材料并不构成或形成任何销
售要约或招揽购买证券也不得构成任何合约或承诺的基础。除前述规定以外，备忘录并不构成向位于不允许要约或招揽的其他管辖区的任何人进行要约或招揽或任何人不属于《证
券法》第501(a)条中定义的“合格投资人”或任何人不具备在备忘录中描述的资格。不是出售要约或招揽购买。请阅读备忘录。

10. This is not a solicitation or offer to purchase securities. Investing in real estate poses risks related to economic conditions as well as risks
related to individual property, credit, and interest-rate fluctuations. These risks, among others, may result in greater value volatility. Past
performance by the Aclaime Group, its affiliates or their key personnel or their respective investments will not necessarily be indicative
of future performance of the funds or their investments.
Project Overview
*NOTICE: This material is qualified in its entirety by the RED Development LLC (“we”, “our”, “us”, or the “Company”) Confidential Private Placement Memorandum as may be amended or
supplemented from time to time (the “Memorandum”) which contains more complete information including risk factors. This material also contains forward-looking statements and
hypothetical economic forecasts that may not be realized. By receiving or viewing this material, you acknowledge and agree not to rely upon it in making an investment decision. Please read
the Memorandum. This material does not constitute or form a part of any offer to sell or solicitation to buy securities nor shall it or any part of it form the basis of any contract or commitment
whatsoever. Without limiting the foregoing, this material does not constitute an offer or solicitation in any jurisdiction in which such an offer or solicitation is not permitted under applicable

11. This is not a solicitation or offer to purchase securities. Investing in real estate poses risks related to economic conditions as well as risks
related to individual property, credit, and interest-rate fluctuations. These risks, among others, may result in greater value volatility. Past
performance by the Aclaime Group, its affiliates or their key personnel or their respective investments will not necessarily be indicative
of future performance of the funds or their investments.
工程 概观
第3阶段
*注意：以上材料的真确是按照睿德发展有限责任公司(“我们”或“公司”)的私募备忘录(PPM)。私募备忘录可能存在时间性的修正或补充，其中包含了更完整的信息，包括风险因
素。以上材料还含有前瞻性陈述以及可能无法实现的经济预测。通过接收或查看这些材料，您承认并同意不依靠它在作出投资决定。请阅读备忘录。此材料并不构成或形成任何销
售要约或招揽购买证券也不得构成任何合约或承诺的基础。除前述规定以外，备忘录并不构成向位于不允许要约或招揽的其他管辖区的任何人进行要约或招揽或任何人不属于《证
券法》第501(a)条中定义的“合格投资人”或任何人不具备在备忘录中描述的资格。不是出售要约或招揽购买。请阅读备忘录。

12. This is not a solicitation or offer to purchase securities. Investing in real estate poses risks related to economic conditions as well as risks
related to individual property, credit, and interest-rate fluctuations. These risks, among others, may result in greater value volatility. Past
performance by the Aclaime Group, its affiliates or their key personnel or their respective investments will not necessarily be indicative
of future performance of the funds or their investments.
Project Phase 1
*NOTICE: This material is qualified in its entirety by the RED Development LLC (“we”, “our”, “us”, or the “Company”) Confidential Private Placement Memorandum as may be amended or
supplemented from time to time (the “Memorandum”) which contains more complete information including risk factors. This material also contains forward-looking statements and
hypothetical economic forecasts that may not be realized. By receiving or viewing this material, you acknowledge and agree not to rely upon it in making an investment decision. Please read
the Memorandum. This material does not constitute or form a part of any offer to sell or solicitation to buy securities nor shall it or any part of it form the basis of any contract or commitment
whatsoever. Without limiting the foregoing, this material does not constitute an offer or solicitation in any jurisdiction in which such an offer or solicitation is not permitted under applicable

13. This is not a solicitation or offer to purchase securities. Investing in real estate poses risks related to economic conditions as well as risks
related to individual property, credit, and interest-rate fluctuations. These risks, among others, may result in greater value volatility. Past
performance by the Aclaime Group, its affiliates or their key personnel or their respective investments will not necessarily be indicative
of future performance of the funds or their investments.
工程 第1阶段
*注意：以上材料的真确是按照睿德发展有限责任公司(“我们”或“公司”)的私募备忘录(PPM)。私募备忘录可能存在时间性的修正或补充，其中包含了更完整的信息，包括风险因
素。以上材料还含有前瞻性陈述以及可能无法实现的经济预测。通过接收或查看这些材料，您承认并同意不依靠它在作出投资决定。请阅读备忘录。此材料并不构成或形成任何销
售要约或招揽购买证券也不得构成任何合约或承诺的基础。除前述规定以外，备忘录并不构成向位于不允许要约或招揽的其他管辖区的任何人进行要约或招揽或任何人不属于《证
券法》第501(a)条中定义的“合格投资人”或任何人不具备在备忘录中描述的资格。不是出售要约或招揽购买。请阅读备忘录。

14. This is not a solicitation or offer to purchase securities. Investing in real estate poses risks related to economic conditions as well as risks
related to individual property, credit, and interest-rate fluctuations. These risks, among others, may result in greater value volatility. Past
performance by the Aclaime Group, its affiliates or their key personnel or their respective investments will not necessarily be indicative
of future performance of the funds or their investments.
Property Overview
RED Development is planning on
building 444 units over a 5 yr
period as part of this EB-5 project.
*NOTICE: This material is qualified in its entirety by the RED Development LLC (“we”, “our”, “us”, or the “Company”) Confidential Private Placement Memorandum as may be amended or
supplemented from time to time (the “Memorandum”) which contains more complete information including risk factors. This material also contains forward-looking statements and
hypothetical economic forecasts that may not be realized. By receiving or viewing this material, you acknowledge and agree not to rely upon it in making an investment decision. Please read
the Memorandum. This material does not constitute or form a part of any offer to sell or solicitation to buy securities nor shall it or any part of it form the basis of any contract or commitment
whatsoever. Without limiting the foregoing, this material does not constitute an offer or solicitation in any jurisdiction in which such an offer or solicitation is not permitted under applicable

15. This is not a solicitation or offer to purchase securities. Investing in real estate poses risks related to economic conditions as well as risks
related to individual property, credit, and interest-rate fluctuations. These risks, among others, may result in greater value volatility. Past
performance by the Aclaime Group, its affiliates or their key personnel or their respective investments will not necessarily be indicative
of future performance of the funds or their investments.
财产 概观
作为EB-5项目的一部分，睿德发
展有限责任公司正计划通过5年
建设期建造出444所单元房。
*注意：以上材料的真确是按照睿德发展有限责任公司(“我们”或“公司”)的私募备忘录(PPM)。私募备忘录可能存在时间性的修正或补充，其中包含了更完整的信息，包括风险因
素。以上材料还含有前瞻性陈述以及可能无法实现的经济预测。通过接收或查看这些材料，您承认并同意不依靠它在作出投资决定。请阅读备忘录。此材料并不构成或形成任何销
售要约或招揽购买证券也不得构成任何合约或承诺的基础。除前述规定以外，备忘录并不构成向位于不允许要约或招揽的其他管辖区的任何人进行要约或招揽或任何人不属于《证
券法》第501(a)条中定义的“合格投资人”或任何人不具备在备忘录中描述的资格。不是出售要约或招揽购买。请阅读备忘录。

16. This is not a solicitation or offer to purchase securities. Investing in real estate poses risks related to economic conditions as well as risks
related to individual property, credit, and interest-rate fluctuations. These risks, among others, may result in greater value volatility. Past
performance by the Aclaime Group, its affiliates or their key personnel or their respective investments will not necessarily be indicative
of future performance of the funds or their investments.
South Salt Lake County Overview
“eBay, the world's largest online
marketplace, announced plans to create
up to 2,200 (in addition to 1,400 current)
new jobs in Utah over the next 20 years.
All of the incented jobs will exceed 125%
of the county's average wage including
full benefits.” - Press release, Utah Governor
Gary Herbert, August 22, 2011
“We’re actually the third-fastest growing
state in the Union right now, but we’re by
far the most diversified of those.” – 2014
Economic Forecast, Randy Shumway,
CEO of Ciero Group, Dec 6, 2013
Utah ranked #3 Best State for
Business and Careers – Forbes
2013 Rankings
Utah ranked #5 Best State for Doing
Business – CNBC’s America’s Top States
for Business 2013
In 2013, Utah clocked in at 4.7%
unemployment, while the national rate
was 7.3%. – US Census 2013
*NOTICE: This material is qualified in its entirety by the RED Development LLC (“we”, “our”, “us”, or the “Company”) Confidential Private Placement Memorandum as may be amended or
supplemented from time to time (the “Memorandum”) which contains more complete information including risk factors. This material also contains forward-looking statements and
hypothetical economic forecasts that may not be realized. By receiving or viewing this material, you acknowledge and agree not to rely upon it in making an investment decision. Please read
the Memorandum. This material does not constitute or form a part of any offer to sell or solicitation to buy securities nor shall it or any part of it form the basis of any contract or commitment
whatsoever. Without limiting the foregoing, this material does not constitute an offer or solicitation in any jurisdiction in which such an offer or solicitation is not permitted under applicable

17. This is not a solicitation or offer to purchase securities. Investing in real estate poses risks related to economic conditions as well as risks
related to individual property, credit, and interest-rate fluctuations. These risks, among others, may result in greater value volatility. Past
performance by the Aclaime Group, its affiliates or their key personnel or their respective investments will not necessarily be indicative
of future performance of the funds or their investments.
南盐湖城县 概观
“eBay，全球最大的网上交易市场，宣布计划在未
来20年内，将在犹他州创建多达2200个新的就业机
会（除现有的1400个职位）。所有激励职位的收入
将超过全县平均工资水平（包括全部收益）的125％”
- 新闻稿，犹他州州长加里·赫伯特，2011年8月22日
“事实上，我们在美国增长最快的州里排名第三
位，但是我们却是到目前为止发展最多元化的。”
- 2014年经济预测，兰迪·沙姆韦，Ciero集团首席
执行官，2013年12月6日
在最适合发展商业和就业的评选中，
犹他州在52个州里排名第3位- 福布
斯2013排名
在最适合做生意的评选中，犹他州在52个州里
排名第5位- CNBC的美国顶尖美国商业2013
在2013年，美国的失业率为7.3％时，而犹他
州将失业率控制在了4.7％ - 美国人口普查局
2013
*注意：以上材料的真确是按照睿德发展有限责任公司(“我们”或“公司”)的私募备忘录(PPM)。私募备忘录可能存在时间性的修正或补充，其中包含了更完整的信息，包括风险因
素。以上材料还含有前瞻性陈述以及可能无法实现的经济预测。通过接收或查看这些材料，您承认并同意不依靠它在作出投资决定。请阅读备忘录。此材料并不构成或形成任何销
售要约或招揽购买证券也不得构成任何合约或承诺的基础。除前述规定以外，备忘录并不构成向位于不允许要约或招揽的其他管辖区的任何人进行要约或招揽或任何人不属于《证
券法》第501(a)条中定义的“合格投资人”或任何人不具备在备忘录中描述的资格。不是出售要约或招揽购买。请阅读备忘录。

18. This is not a solicitation or offer to purchase securities. Investing in real estate poses risks related to economic conditions as well as risks
related to individual property, credit, and interest-rate fluctuations. These risks, among others, may result in greater value volatility. Past
performance by the Aclaime Group, its affiliates or their key personnel or their respective investments will not necessarily be indicative
of future performance of the funds or their investments.
North Utah County Overview
“Utah’s population has grown every year
since 1990 and has the nation’s
youngest population. The population is
expected to increase far more than the
nation as a whole both externally
because of its strong job market
attracting employees from other states
and internally through natural increase
as it has the nation’s highest birth rate.”
– Cushman & Wakefield Q3 2012
Utah ranked #1 pro-business state
three years running – Pollina
NSA - $2 Billion data center; 100-200
staff; $40M power costs annually.
IM Flash – 1600 employees;
planning to pour $1.5B into
its flash memory chip plant
Abode Systems – New technology
campus that will create 1,000 new jobs
over the next 20 years. – Press Release,
Adobe, Nov 5, 2012
*NOTICE: This material is qualified in its entirety by the RED Development LLC (“we”, “our”, “us”, or the “Company”) Confidential Private Placement Memorandum as may be amended or
supplemented from time to time (the “Memorandum”) which contains more complete information including risk factors. This material also contains forward-looking statements and
hypothetical economic forecasts that may not be realized. By receiving or viewing this material, you acknowledge and agree not to rely upon it in making an investment decision. Please read
the Memorandum. This material does not constitute or form a part of any offer to sell or solicitation to buy securities nor shall it or any part of it form the basis of any contract or commitment
whatsoever. Without limiting the foregoing, this material does not constitute an offer or solicitation in any jurisdiction in which such an offer or solicitation is not permitted under applicable

19. This is not a solicitation or offer to purchase securities. Investing in real estate poses risks related to economic conditions as well as risks
related to individual property, credit, and interest-rate fluctuations. These risks, among others, may result in greater value volatility. Past
performance by the Aclaime Group, its affiliates or their key personnel or their respective investments will not necessarily be indicative
of future performance of the funds or their investments.
北犹他郡 概观
自1990年以来“犹他州人口逐年攀升，并拥有全
美国最年轻的人口。预计犹他州的人口增长速度
将远远超过了美国整体人口增长速度，因为其强
劲的就业市场吸引了来自其他州的就业人员，而
内在的自然增长则取决于它拥有全美最高的出生
率。“ - 高纬环球Q32012
犹他州连续三年蝉联最支持商业的州第一
名- Pollina
NSA - 20亿美元的数据中心; 100-200名工作
人员;每年能源耗费为4000万美元，。
拥有1600名员工的IM闪存 -;计划
倾注15亿美元到它的闪存芯片厂
精舍系统 - 新技术园区，将在未来20年内创
造1000个新的就业机会。 - 新闻稿，Adobe公
司，2012年11月5日
*注意：以上材料的真确是按照睿德发展有限责任公司(“我们”或“公司”)的私募备忘录(PPM)。私募备忘录可能存在时间性的修正或补充，其中包含了更完整的信息，包括风险因
素。以上材料还含有前瞻性陈述以及可能无法实现的经济预测。通过接收或查看这些材料，您承认并同意不依靠它在作出投资决定。请阅读备忘录。此材料并不构成或形成任何销
售要约或招揽购买证券也不得构成任何合约或承诺的基础。除前述规定以外，备忘录并不构成向位于不允许要约或招揽的其他管辖区的任何人进行要约或招揽或任何人不属于《证
券法》第501(a)条中定义的“合格投资人”或任何人不具备在备忘录中描述的资格。不是出售要约或招揽购买。请阅读备忘录。

20. This is not a solicitation or offer to purchase securities. Investing in real estate poses risks related to economic conditions as well as risks
related to individual property, credit, and interest-rate fluctuations. These risks, among others, may result in greater value volatility. Past
performance by the Aclaime Group, its affiliates or their key personnel or their respective investments will not necessarily be indicative
of future performance of the funds or their investments.
Template
Marketplace at Independence
Bluffdale, Utah
Prime location. Entry level housing. Heart of the natural path of growth.
General Information
Residential Units 444
Project Funding
Requirement
$3,000,000
Projected Returns
ROI 8%
Minimum Investor
Outlay
$1,000,000
This is not a solicitation or offer to purchase securities. Investing in real estate poses risks related to economic conditions as well as risks
related to individual property, credit, and interest-rate fluctuations. These risks, among others, may result in greater value volatility. Past
performance by the Aclaime Group, its affiliates or their key personnel or their respective investments will not necessarily be indicative
of future performance of the funds or their investments.
*NOTICE: This material is qualified in its entirety by the RED Development LLC (“we”, “our”, “us”, or the “Company”) Confidential Private Placement Memorandum as may be amended or
supplemented from time to time (the “Memorandum”) which contains more complete information including risk factors. This material also contains forward-looking statements and
hypothetical economic forecasts that may not be realized. By receiving or viewing this material, you acknowledge and agree not to rely upon it in making an investment decision. Please read
the Memorandum. This material does not constitute or form a part of any offer to sell or solicitation to buy securities nor shall it or any part of it form the basis of any contract or commitment
whatsoever. Without limiting the foregoing, this material does not constitute an offer or solicitation in any jurisdiction in which such an offer or solicitation is not permitted under applicable

21. This is not a solicitation or offer to purchase securities. Investing in real estate poses risks related to economic conditions as well as risks
related to individual property, credit, and interest-rate fluctuations. These risks, among others, may result in greater value volatility. Past
performance by the Aclaime Group, its affiliates or their key personnel or their respective investments will not necessarily be indicative
of future performance of the funds or their investments.
Template
Marketplace at Independence
Bluffdale, Utah
优越的地理位置。入门级的住房。自然发展路线的核心区。
一般信息
住宅单位 444
项目资金需求 $3,000,000
预期回报
投资回报率 8%
最低投资经费 $1,000,000
This is not a solicitation or offer to purchase securities. Investing in real estate poses risks related to economic conditions as well as risks
related to individual property, credit, and interest-rate fluctuations. These risks, among others, may result in greater value volatility. Past
performance by the Aclaime Group, its affiliates or their key personnel or their respective investments will not necessarily be indicative
of future performance of the funds or their investments.
*注意：以上材料的真确是按照睿德发展有限责任公司(“我们”或“公司”)的私募备忘录(PPM)。私募备忘录可能存在时间性的修正或补充，其中包含了更完整的信息，包括风险因
素。以上材料还含有前瞻性陈述以及可能无法实现的经济预测。通过接收或查看这些材料，您承认并同意不依靠它在作出投资决定。请阅读备忘录。此材料并不构成或形成任何销
售要约或招揽购买证券也不得构成任何合约或承诺的基础。除前述规定以外，备忘录并不构成向位于不允许要约或招揽的其他管辖区的任何人进行要约或招揽或任何人不属于《证
券法》第501(a)条中定义的“合格投资人”或任何人不具备在备忘录中描述的资格。不是出售要约或招揽购买。请阅读备忘录。

22. This is not a solicitation or offer to purchase securities. Investing in real estate poses risks related to economic conditions as well as risks
related to individual property, credit, and interest-rate fluctuations. These risks, among others, may result in greater value volatility. Past
performance by the Aclaime Group, its affiliates or their key personnel or their respective investments will not necessarily be indicative
of future performance of the funds or their investments.
Bluffdale Project Groundbreaking
*NOTICE: This material is qualified in its entirety by the RED Development LLC (“we”, “our”, “us”, or the “Company”) Confidential Private Placement Memorandum as may be amended or
supplemented from time to time (the “Memorandum”) which contains more complete information including risk factors. This material also contains forward-looking statements and
hypothetical economic forecasts that may not be realized. By receiving or viewing this material, you acknowledge and agree not to rely upon it in making an investment decision. Please read
the Memorandum. This material does not constitute or form a part of any offer to sell or solicitation to buy securities nor shall it or any part of it form the basis of any contract or commitment
whatsoever. Without limiting the foregoing, this material does not constitute an offer or solicitation in any jurisdiction in which such an offer or solicitation is not permitted under applicable

23. This is not a solicitation or offer to purchase securities. Investing in real estate poses risks related to economic conditions as well as risks
related to individual property, credit, and interest-rate fluctuations. These risks, among others, may result in greater value volatility. Past
performance by the Aclaime Group, its affiliates or their key personnel or their respective investments will not necessarily be indicative
of future performance of the funds or their investments.
布拉夫代尔项目 动土仪式
*NOTICE: This material is qualified in its entirety by the RED Development LLC (“we”, “our”, “us”, or the “Company”) Confidential Private Placement Memorandum as may be amended or
supplemented from time to time (the “Memorandum”) which contains more complete information including risk factors. This material also contains forward-looking statements and
hypothetical economic forecasts that may not be realized. By receiving or viewing this material, you acknowledge and agree not to rely upon it in making an investment decision. Please read
the Memorandum. This material does not constitute or form a part of any offer to sell or solicitation to buy securities nor shall it or any part of it form the basis of any contract or commitment
whatsoever. Without limiting the foregoing, this material does not constitute an offer or solicitation in any jurisdiction in which such an offer or solicitation is not permitted under applicable

24. This is not a solicitation or offer to purchase securities. Investing in real estate poses risks related to economic conditions as well as risks
related to individual property, credit, and interest-rate fluctuations. These risks, among others, may result in greater value volatility. Past
performance by the Aclaime Group, its affiliates or their key personnel or their respective investments will not necessarily be indicative
of future performance of the funds or their investments.
WSDA, LLC Management Team
About WSDA
WSDA is a real estate development and investment
company that, through it’s predecessor companies, has
done real estate in 24 states in the United States, across
multiple asset classes and complex structures. Given an
ever changing real estate landscape, the company seeks
opportunities that are bi-products of market conditions
or lack of providers. Utilizing this approach the
company’s founders were one of the first groups in 2008
to participate in FDIC transactions, non-performing
loans and other distressed debt opportunities
throughout the downturn. In 2012, the founding
members of WSDA shifted their focus towards more
value add projects to capitalize on an increased demand
for new developments. The company is interested in
direct acquisitions, joint ventures, co-sponsorship’s and
other unique real estate acquisition opportunities.
*NOTICE: This material is qualified in its entirety by the RED Development LLC (“we”, “our”, “us”, or the “Company”) Confidential Private Placement Memorandum as may be amended or
supplemented from time to time (the “Memorandum”) which contains more complete information including risk factors. This material also contains forward-looking statements and
hypothetical economic forecasts that may not be realized. By receiving or viewing this material, you acknowledge and agree not to rely upon it in making an investment decision. Please read
the Memorandum. This material does not constitute or form a part of any offer to sell or solicitation to buy securities nor shall it or any part of it form the basis of any contract or commitment
whatsoever. Without limiting the foregoing, this material does not constitute an offer or solicitation in any jurisdiction in which such an offer or solicitation is not permitted under applicable

25. This is not a solicitation or offer to purchase securities. Investing in real estate poses risks related to economic conditions as well as risks
related to individual property, credit, and interest-rate fluctuations. These risks, among others, may result in greater value volatility. Past
performance by the Aclaime Group, its affiliates or their key personnel or their respective investments will not necessarily be indicative
of future performance of the funds or their investments.
WSDA, LLC 管理团队
关于WSDA
WSDA是一家房地产开发和投资公司，它的前
身公司，经营的房地产项目遍及美国的24个州，
涵盖多个资产分类和复杂的体系。鉴于不断变
化的房地产景观，该公司寻求的是市场条件的
双产物或是缺乏供应商而产生的机会。利用这
种方法，在2008年公司的创始人作为第一批集
团之一参加了FDIC的交易，在此期间不良贷款
和不良债务的机会贯穿了整个经济衰退期。在
2012年，WSDA的创始成员利用对新发展的日
益增长的需求，把他们的重点转向更多的增值
项目。该公司对直接收购，合资，合作赞助以
及其他独特的的地产收购机会都有兴趣。
*注意：以上材料的真确是按照睿德发展有限责任公司(“我们”或“公司”)的私募备忘录(PPM)。私募备忘录可能存在时间性的修正或补充，其中包含了更完整的信息，包括风险因
素。以上材料还含有前瞻性陈述以及可能无法实现的经济预测。通过接收或查看这些材料，您承认并同意不依靠它在作出投资决定。请阅读备忘录。此材料并不构成或形成任何销
售要约或招揽购买证券也不得构成任何合约或承诺的基础。除前述规定以外，备忘录并不构成向位于不允许要约或招揽的其他管辖区的任何人进行要约或招揽或任何人不属于《证
券法》第501(a)条中定义的“合格投资人”或任何人不具备在备忘录中描述的资格。不是出售要约或招揽购买。请阅读备忘录。

26. This is not a solicitation or offer to purchase securities. Investing in real estate poses risks related to economic conditions as well as risks
related to individual property, credit, and interest-rate fluctuations. These risks, among others, may result in greater value volatility. Past
performance by the Aclaime Group, its affiliates or their key personnel or their respective investments will not necessarily be indicative
of future performance of the funds or their investments.
WSDA,LLC
Bluffdale Project
EB5 Compliant Organization
RED
Development
(Bluffdale Project)
1. Each Chinese Investor brings $1M
to USA and will be an
Owner/Board Member in the
Project Development Company.
2. Investor money will go to the
Project Development Company to
start the project and secure jobs.
3. The actual project will be the
collateral for the investors.
4. As investor money comes in, every
job created will be specifically
allocated to each investor and
tracked internally for payroll and
government reporting.
5. 8% will be paid annually to the
investors from the Project
Development Company.
6. Upon project completion and
liquidation, principle and any
unpaid interest will go to the
investors first and excess profits, if
any, will go to WSDA, LLC for
management of the project.
7. WSDA, LLC will be a Manager in
the Project Development
Company.
*NOTICE: This material is qualified in its entirety by the RED Development LLC (“we”, “our”, “us”, or the “Company”) Confidential Private Placement Memorandum as may be amended or
supplemented from time to time (the “Memorandum”) which contains more complete information including risk factors. This material also contains forward-looking statements and
hypothetical economic forecasts that may not be realized. By receiving or viewing this material, you acknowledge and agree not to rely upon it in making an investment decision. Please read
the Memorandum. This material does not constitute or form a part of any offer to sell or solicitation to buy securities nor shall it or any part of it form the basis of any contract or commitment
whatsoever. Without limiting the foregoing, this material does not constitute an offer or solicitation in any jurisdiction in which such an offer or solicitation is not permitted under applicable
Investor 1
$1M US Dollars
10+ Employees
Investor 5
$1M US Dollars
10+ Employees
Investor 2
$1M US Dollars
10+ Employees
Investor 3
$1M US Dollars
10+ Employees
Investor 4
$1M US Dollars
10+ Employees
Investor 6
$1M US Dollars
10+ Employees

27. This is not a solicitation or offer to purchase securities. Investing in real estate poses risks related to economic conditions as well as risks
related to individual property, credit, and interest-rate fluctuations. These risks, among others, may result in greater value volatility. Past
performance by the Aclaime Group, its affiliates or their key personnel or their respective investments will not necessarily be indicative
of future performance of the funds or their investments.
WSDA,LLC
普通股股东
Bluffdale 工程
EB5 标准组织
优先股股东1
100万美金
10+员工
优先股股东5
100万美金
10+员工
睿德发展有
限责任公司
(Bluffdale 工程)
1. 每一个中国投资者带来了100
万美元到美国，并会成为业
主/董事会成员在项目开发公
司。
2. 投资者的资金将进入项目开
发公司启动项目和创造工作。
3. 实际的项目将成为投资者的
抵押品。
4. 当投资者的资金进来，创造
的工作将被分配给每个投资
者，被内部跟踪工资和向政
府报告。
5. 项目开发公司每年会支付给
投资者8％利息回报。
6. 项目完成及清算后，本金及
任何未付的利息会先发还投
资者。如有利润，会去WSDA，
LLC用来管理项目。
7. WSDA，LLC将是项目开发公司
的经理。
*注意：以上材料的真确是按照睿德发展有限责任公司(“我们”或“公司”)的私募备忘录(PPM)。私募备忘录可能存在时间性的修正或补充，其中包含了更完整的信息，包括风险因
素。以上材料还含有前瞻性陈述以及可能无法实现的经济预测。通过接收或查看这些材料，您承认并同意不依靠它在作出投资决定。请阅读备忘录。此材料并不构成或形成任何销
售要约或招揽购买证券也不得构成任何合约或承诺的基础。除前述规定以外，备忘录并不构成向位于不允许要约或招揽的其他管辖区的任何人进行要约或招揽或任何人不属于《证
券法》第501(a)条中定义的“合格投资人”或任何人不具备在备忘录中描述的资格。不是出售要约或招揽购买。请阅读备忘录。
优先股股东2
100万美金
10+员工
优先股股东3
100万美金
10+员工
优先股股东4
100万美金
10+员工
优先股股东6
100万美金
10+员工

28. This is not a solicitation or offer to purchase securities. Investing in real estate poses risks related to economic conditions as well as risks
related to individual property, credit, and interest-rate fluctuations. These risks, among others, may result in greater value volatility. Past
performance by the Aclaime Group, its affiliates or their key personnel or their respective investments will not necessarily be indicative
of future performance of the funds or their investments.
Strictly confidential
Bluffdale Project
Example Job Allocations – 88 Total Jobs Projected*
*Job allocations are for illustration purposes only. The actual type of jobs created and allocated to each investor may vary depending on job needs at the time the money comes to the project.
1 Office Manager
3 Clerk
1 Property Manager
1 Property Coordinator
3 Warranty
1 Broker
1 Administrator
1 Sales Manager
3 Clerk
4 Sales Agent
1 Receptionist
1 Project Manager
2 Estimator
2 A/R Coordinator
2 Construction
Foreman
2 Construction
Supervisor
6 Landscaper
4 Plumber
5 Electrician
4 HVAC
2 Low-Volt Electrician
16 Interior
Finisher
22 Framer
*NOTICE: This material is qualified in its entirety by the RED Development LLC (“we”, “our”, “us”, or the “Company”) Confidential Private Placement Memorandum as may be amended or
supplemented from time to time (the “Memorandum”) which contains more complete information including risk factors. This material also contains forward-looking statements and
hypothetical economic forecasts that may not be realized. By receiving or viewing this material, you acknowledge and agree not to rely upon it in making an investment decision. Please read
the Memorandum. This material does not constitute or form a part of any offer to sell or solicitation to buy securities nor shall it or any part of it form the basis of any contract or commitment
whatsoever. Without limiting the foregoing, this material does not constitute an offer or solicitation in any jurisdiction in which such an offer or solicitation is not permitted under applicable

29. This is not a solicitation or offer to purchase securities. Investing in real estate poses risks related to economic conditions as well as risks
related to individual property, credit, and interest-rate fluctuations. These risks, among others, may result in greater value volatility. Past
performance by the Aclaime Group, its affiliates or their key personnel or their respective investments will not necessarily be indicative
of future performance of the funds or their investments.
Strictly confidential
Bluffdale 工程
例如工作分配 - 88共乔布斯预计*
*工作分配是仅用于说明目的。创建并分配给每个投资者可能会根据不同岗位工作的实际类型需要的钱从哪里来到项目的时间。
1 项目经理
2 成本估计师
2 A/R协调员
2 建筑工头
2 施工主管
6 庭园工程师
4 管道工程师
5电工程师
4 HVAC 技工
2 低电压家居电工程
师
16 室内工程师22建筑工程师
*注意：以上材料的真确是按照睿德发展有限责任公司(“我们”或“公司”)的私募备忘录(PPM)。私募备忘录可能存在时间性的修正或补充，其中包含了更完整的信息，包括风险因
素。以上材料还含有前瞻性陈述以及可能无法实现的经济预测。通过接收或查看这些材料，您承认并同意不依靠它在作出投资决定。请阅读备忘录。此材料并不构成或形成任何销
售要约或招揽购买证券也不得构成任何合约或承诺的基础。除前述规定以外，备忘录并不构成向位于不允许要约或招揽的其他管辖区的任何人进行要约或招揽或任何人不属于《证
券法》第501(a)条中定义的“合格投资人”或任何人不具备在备忘录中描述的资格。不是出售要约或招揽购买。请阅读备忘录。
1 房地产经纪人
1 办公室经理
1 销售经理
3 文员
4 销售代理
1 接待员
1 办公室经理
3 文员
1 物业经理
1 物业协调员
3 保修主管

30. This is not a solicitation or offer to purchase securities. Investing in real estate poses risks related to economic conditions as well as risks
related to individual property, credit, and interest-rate fluctuations. These risks, among others, may result in greater value volatility. Past
performance by the Aclaime Group, its affiliates or their key personnel or their respective investments will not necessarily be indicative
of future performance of the funds or their investments.
Project Approval
*NOTICE: This material is qualified in its entirety by the RED Development LLC (“we”, “our”, “us”, or the “Company”) Confidential Private Placement Memorandum as may be amended or
supplemented from time to time (the “Memorandum”) which contains more complete information including risk factors. This material also contains forward-looking statements and
hypothetical economic forecasts that may not be realized. By receiving or viewing this material, you acknowledge and agree not to rely upon it in making an investment decision. Please read
the Memorandum. This material does not constitute or form a part of any offer to sell or solicitation to buy securities nor shall it or any part of it form the basis of any contract or commitment
whatsoever. Without limiting the foregoing, this material does not constitute an offer or solicitation in any jurisdiction in which such an offer or solicitation is not permitted under applicable

31. This is not a solicitation or offer to purchase securities. Investing in real estate poses risks related to economic conditions as well as risks
related to individual property, credit, and interest-rate fluctuations. These risks, among others, may result in greater value volatility. Past
performance by the Aclaime Group, its affiliates or their key personnel or their respective investments will not necessarily be indicative
of future performance of the funds or their investments.
项目审批
*注意：以上材料的真确是按照睿德发展有限责任公司(“我们”或“公司”)的私募备忘录(PPM)。私募备忘录可能存在时间性的修正或补充，其中包含了更完整的信息，包括风险因
素。以上材料还含有前瞻性陈述以及可能无法实现的经济预测。通过接收或查看这些材料，您承认并同意不依靠它在作出投资决定。请阅读备忘录。此材料并不构成或形成任何销
售要约或招揽购买证券也不得构成任何合约或承诺的基础。除前述规定以外，备忘录并不构成向位于不允许要约或招揽的其他管辖区的任何人进行要约或招揽或任何人不属于《证
券法》第501(a)条中定义的“合格投资人”或任何人不具备在备忘录中描述的资格。不是出售要约或招揽购买。请阅读备忘录。

32. This is not a solicitation or offer to purchase securities. Investing in real estate poses risks related to economic conditions as well as risks
related to individual property, credit, and interest-rate fluctuations. These risks, among others, may result in greater value volatility. Past
performance by the Aclaime Group, its affiliates or their key personnel or their respective investments will not necessarily be indicative
of future performance of the funds or their investments.
Project Approval
*NOTICE: This material is qualified in its entirety by the RED Development LLC (“we”, “our”, “us”, or the “Company”) Confidential Private Placement Memorandum as may be amended or
supplemented from time to time (the “Memorandum”) which contains more complete information including risk factors. This material also contains forward-looking statements and
hypothetical economic forecasts that may not be realized. By receiving or viewing this material, you acknowledge and agree not to rely upon it in making an investment decision. Please read
the Memorandum. This material does not constitute or form a part of any offer to sell or solicitation to buy securities nor shall it or any part of it form the basis of any contract or commitment
whatsoever. Without limiting the foregoing, this material does not constitute an offer or solicitation in any jurisdiction in which such an offer or solicitation is not permitted under applicable

33. This is not a solicitation or offer to purchase securities. Investing in real estate poses risks related to economic conditions as well as risks
related to individual property, credit, and interest-rate fluctuations. These risks, among others, may result in greater value volatility. Past
performance by the Aclaime Group, its affiliates or their key personnel or their respective investments will not necessarily be indicative
of future performance of the funds or their investments.
项目审批
*注意：以上材料的真确是按照睿德发展有限责任公司(“我们”或“公司”)的私募备忘录(PPM)。私募备忘录可能存在时间性的修正或补充，其中包含了更完整的信息，包括风险因
素。以上材料还含有前瞻性陈述以及可能无法实现的经济预测。通过接收或查看这些材料，您承认并同意不依靠它在作出投资决定。请阅读备忘录。此材料并不构成或形成任何销
售要约或招揽购买证券也不得构成任何合约或承诺的基础。除前述规定以外，备忘录并不构成向位于不允许要约或招揽的其他管辖区的任何人进行要约或招揽或任何人不属于《证
券法》第501(a)条中定义的“合格投资人”或任何人不具备在备忘录中描述的资格。不是出售要约或招揽购买。请阅读备忘录。

34. This is not a solicitation or offer to purchase securities. Investing in real estate poses risks related to economic conditions as well as risks
related to individual property, credit, and interest-rate fluctuations. These risks, among others, may result in greater value volatility. Past
performance by the Aclaime Group, its affiliates or their key personnel or their respective investments will not necessarily be indicative
of future performance of the funds or their investments.
Project Approval
*NOTICE: This material is qualified in its entirety by the RED Development LLC (“we”, “our”, “us”, or the “Company”) Confidential Private Placement Memorandum as may be amended or
supplemented from time to time (the “Memorandum”) which contains more complete information including risk factors. This material also contains forward-looking statements and
hypothetical economic forecasts that may not be realized. By receiving or viewing this material, you acknowledge and agree not to rely upon it in making an investment decision. Please read
the Memorandum. This material does not constitute or form a part of any offer to sell or solicitation to buy securities nor shall it or any part of it form the basis of any contract or commitment
whatsoever. Without limiting the foregoing, this material does not constitute an offer or solicitation in any jurisdiction in which such an offer or solicitation is not permitted under applicable

35. This is not a solicitation or offer to purchase securities. Investing in real estate poses risks related to economic conditions as well as risks
related to individual property, credit, and interest-rate fluctuations. These risks, among others, may result in greater value volatility. Past
performance by the Aclaime Group, its affiliates or their key personnel or their respective investments will not necessarily be indicative
of future performance of the funds or their investments.
项目审批
*注意：以上材料的真确是按照睿德发展有限责任公司(“我们”或“公司”)的私募备忘录(PPM)。私募备忘录可能存在时间性的修正或补充，其中包含了更完整的信息，包括风险因
素。以上材料还含有前瞻性陈述以及可能无法实现的经济预测。通过接收或查看这些材料，您承认并同意不依靠它在作出投资决定。请阅读备忘录。此材料并不构成或形成任何销
售要约或招揽购买证券也不得构成任何合约或承诺的基础。除前述规定以外，备忘录并不构成向位于不允许要约或招揽的其他管辖区的任何人进行要约或招揽或任何人不属于《证
券法》第501(a)条中定义的“合格投资人”或任何人不具备在备忘录中描述的资格。不是出售要约或招揽购买。请阅读备忘录。

36. This is not a solicitation or offer to purchase securities. Investing in real estate poses risks related to economic conditions as well as risks
related to individual property, credit, and interest-rate fluctuations. These risks, among others, may result in greater value volatility. Past
performance by the Aclaime Group, its affiliates or their key personnel or their respective investments will not necessarily be indicative
of future performance of the funds or their investments.
Legal and Immigration Opinion Letters
*NOTICE: This material is qualified in its entirety by the RED Development LLC (“we”, “our”, “us”, or the “Company”) Confidential Private Placement Memorandum as may be amended or
supplemented from time to time (the “Memorandum”) which contains more complete information including risk factors. This material also contains forward-looking statements and
hypothetical economic forecasts that may not be realized. By receiving or viewing this material, you acknowledge and agree not to rely upon it in making an investment decision. Please read
the Memorandum. This material does not constitute or form a part of any offer to sell or solicitation to buy securities nor shall it or any part of it form the basis of any contract or commitment
whatsoever. Without limiting the foregoing, this material does not constitute an offer or solicitation in any jurisdiction in which such an offer or solicitation is not permitted under applicable

37. This is not a solicitation or offer to purchase securities. Investing in real estate poses risks related to economic conditions as well as risks
related to individual property, credit, and interest-rate fluctuations. These risks, among others, may result in greater value volatility. Past
performance by the Aclaime Group, its affiliates or their key personnel or their respective investments will not necessarily be indicative
of future performance of the funds or their investments.
法律和移民意见书
*注意：以上材料的真确是按照睿德发展有限责任公司(“我们”或“公司”)的私募备忘录(PPM)。私募备忘录可能存在时间性的修正或补充，其中包含了更完整的信息，包括风险因
素。以上材料还含有前瞻性陈述以及可能无法实现的经济预测。通过接收或查看这些材料，您承认并同意不依靠它在作出投资决定。请阅读备忘录。此材料并不构成或形成任何销
售要约或招揽购买证券也不得构成任何合约或承诺的基础。除前述规定以外，备忘录并不构成向位于不允许要约或招揽的其他管辖区的任何人进行要约或招揽或任何人不属于《证
券法》第501(a)条中定义的“合格投资人”或任何人不具备在备忘录中描述的资格。不是出售要约或招揽购买。请阅读备忘录。