Carlyle Realty Partners VIII June 30, 2019 Update
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Carlyle Realty Partners VIII Volume 1 June 30, 2019 Update TRADE SECRET AND STRICTLY CONFIDENTIAL The information contained herein is confidential, and may not be disclosed, reproduced or used in whole or in part for any purpose other than monitoring or assessing the recipient’s existing or potential investments with The Carlyle Group. STRICTLY CONFIDENTIAL Carlyle Realty Partners VIII June 30, 2019 Update This page intentionally left blank. STRICTLY CONFIDENTIAL Carlyle Realty Partners VIII June 30, 2019 Update PRIVACY NOTICE As part of our compliance with the provisions of certain privacy regulations issued by the United States federal government, we are required to provide individual investors with notice of our firm’s policies and practices relating to the use and sharing of your personal information. We are committed to maintaining the confidentiality, integrity and security of our current and former investors’ non-public information. Accordingly, we have developed internal policies to protect confidentiality while allowing investors’ needs to be met. We will not disclose any non-public personal information about investors who are individuals, except to our affiliates and service providers as allowed by applicable law or regulation. In the normal course of serving our investors, information we collect may be shared with companies that perform various services such as our accountants, attorneys and third-party administrators. Specifically, we may disclose to these service providers non- public personal information including: Information we receive on subscription agreements or other forms, such as name, address, account number and the types and amounts of investments; and Information about transactions with us or our affiliates, such as participation in other investment programs, ownership of certain types of accounts or other account data. Any party that receives this information will use it only for the services required by us and as allowed by applicable law or regulation, and is not permitted to share or use this information for any other purpose. To protect the personal information of individuals, we permit access only by authorized employees who need access to that information to provide services to the fund and its investors. In order to guard investors’ non-public personal information, we maintain physical, electronic and procedural safeguards that comply with U.S. federal standards. An individual investor’s right to privacy extends to all forms of contact with us, including telephone, written correspondence and electronic media, such as the Internet. Please be assured that we are committed to protecting the privacy of non-public information about you. Sincerely, The Carlyle Group STRICTLY CONFIDENTIAL Carlyle Realty Partners VIII June 30, 2019 Update THE CARLYLE GROUP NOTICE OF PROXY VOTING POLICIES AND PROCEDURES The Securities and Exchange Commission (the "SEC") recently adopted Rule 206(4)-6 (the “Rule”), which requires registered investment advisers that exercise voting authority over client securities to implement proxy voting policies. Carlyle Investment Management, L.L.C., a registered investment adviser (the “Adviser”), provides investment advisory services to private investment funds (each, a “Fund” and collectively, the “Funds”), certain of which you may be an investor in, whose investment program involves investing Fund assets in securities generally through privately negotiated transactions. Because the Adviser may be deemed to have authority to vote proxies relating to the portfolio companies in which the Funds invest on behalf of its clients (i.e. the Funds) the Adviser has adopted a set of policies and procedures (together, the “Policy”) in compliance with the Rule. To the extent the Adviser exercises or is deemed to be exercising voting authority over Fund securities, the Adviser’s general policy is to vote proxy proposals, amendments, consents or resolutions (collectively, “proxies”) in a manner that serves the best interest of the Fund, as determined by the Adviser in its discretion, taking into account factors described in the Policy. The Policy also contains other more specific policies that the Adviser intends to follow with respect to various routine and non-routine related matters. Investors may request a copy of the Policy and the voting records relating to proxies as provided by the Rule by contacting the Adviser. STRICTLY CONFIDENTIAL Carlyle Realty Partners VIII June 30, 2019 Update Notice to Partners This Carlyle Realty Fund VIII June 30, 2019 Update (the “Update”) is furnished on a confidential basis to the investors of Carlyle Realty Partners VIII, L.P. and its parallel funds (collectively, the “Fund”) for the purpose of providing existing investors with certain information about the Fund. This Update does not constitute an offer to sell or the solicitation of an offer to buy any securities. This Update and the information contained herein must be held strictly confidential and not reproduced or used in whole or in part for any purpose other than in connection with monitoring your investment in the Fund and is subject to the Fund’s confidentiality provisions. This Update must be returned to Carlyle upon request. Statements contained in this Update that are not historical facts are based on current expectations, estimates, projections, opinions and/or beliefs of Carlyle. Such statements involve known and unknown risks, uncertainties and other factors, and undue reliance should not be placed thereon. Certain information contained in this Update constitutes “forward-looking statements,” which can be identified by the use of forward-looking terminology such as “may”, “can”, “will”, “would”, “should”, “seek”, “expect”, “anticipate”, “project”, “target”, “estimate”, “intend”, “continue” or “believe” or the negatives thereof or other variations thereon or comparable terminology. Due to various risks and uncertainties, actual events or results or the actual performance of the Fund or its investments may differ materially from those reflected or contemplated in such forward-looking statements. Economic and market data and other information regarding the financial and operating information of the properties in which the Fund has invested that are contained in this Update have been obtained either from published sources prepared by third parties or from the operators and other sponsors of such properties. While such sources are believed to be reliable, neither the Fund, Carlyle nor their affiliates and employees assumes any responsibility for the accuracy or completeness of such information. As a general matter, such information has not been updated through the date hereof and is subject to change. This Update contains detailed summary information regarding the Fund’s investments. There can be no assurance that Carlyle or any of the operators or sponsors of the investments described herein will be able to implement their current or future business plans or retain key management personnel, or that any potential investment or exit opportunities or other transactions described will be available to or consummated by the Fund. Statements contained in the Update, including the investment rationale and criteria, are based on expectations, estimates, projections, opinions and beliefs (including, without limitation, statements regarding the real estate and financial markets generally and the future performance of specific investments) and accordingly, actual events and results may differ from those contemplated. While Carlyle’s projected returns are based on assumptions that Carlyle believes are reasonable under the circumstances, the actual realized returns on the Fund’s unrealized investments will depend on, among other factors, future operating results, market conditions and the value of the assets at the time of disposition, any related transactions costs, and the timing and manner of sale, all of which may differ from the assumptions and circumstances on which Carlyle’s projections are based. Accordingly, the actual realized returns on these unrealized investments may differ materially from the projected returns indicated herein. STRICTLY CONFIDENTIAL Carlyle Realty Partners VIII June 30, 2019 Update This page intentionally left blank. STRICTLY CONFIDENTIAL Carlyle Realty Partners VIII June 30, 2019 Update Table of Contents Volume 1 Letter to Our Partners i Fund Equity by Sector iii Summary Investment Schedule v Multifamily Residential 1 4125 Chestnut 3 4233 Chestnut 7 Alexan - Esplanade 11 Alexan - Gateway 15 Alexan - Oak Grove 19 Alexan - Spring Crossing II 23 Alexan - Springdale 27 Allure at Gateway 31 Alta Spring Creek 35 Aspire Westside 39 Aura Riverside 43 Aura Stone Oak 47 AVE Blue Bell 51 Avonlea Reynolds 55 Broadstone 15th Street Flats 59 Broadstone Barker Cypress 63 Broadstone Heathrow 67 Broadstone Museum District 71 Broadstone Norcross 75 Broadstone Sawyer Arts 79 Broadstone Studemont 83 Broadstone Sugar Hill 87 Broadstone Vintage Park 91 Broadstone Waterworks 95 Caprock Crossing 99 Carroll - Trinity Residences 103 Chance - San Marco 107 Cross Creek 111 District at Chandler 115 Eastside Station 119 Elysian at Cimarron 123 Elysian at the Palms 127 Epoch - Flora Ridge 131 Epoch - Palm Parkway 135 Euless Park Drive 139 Greystar - Elan Powers Ferry 143 Greystar - The Preserve 147 STRICTLY CONFIDENTIAL Carlyle Realty Partners VIII June 30, 2019 Update Volume 2 Multifamily Residential (continues) 151 Haven - Highland Knolls 153 Haven - Westheimer 157 Haven on Tucker 161 Homewood Banks