IQHQ Disclosure

Risk Factors This does not constitute an offer to sell or a solicitation of an offer to buy any securities. Any securities will be offered only by means of a Confidential Private Placement Memorandum (“Memorandum”) provided to a limited number of sophisticated investors. Investing in the Company involves a number of significant risks and other important factors relating to investments in companies generally, and relating to the strategy and investment objectives of the Company in particular. Prospective investors should carefully consider the following risk factors, together with all of the other information included in the Memorandum before deciding to purchase Shares. As a result of these factors, as well as other risks inherent in any investment, there can be no assurance that the Company will be able to meet its investment objectives or otherwise be able to successfully to carry out its investment program.

• An investment in the company is not a direct investment in real estate, but rather an investment in a REIT that invests in life science real estate.
• The Company will be subject to the risks incident to the ownership and operation of real estate, including risks associated with the general economic climate, local real estate conditions, changes in the availability of debt financing, credit risk arising from the financial condition of tenants, buyers, and sellers of properties, geographic or market concentration, competition from other space, and various other risks.
• There is no public market for the interests and one is not guaranteed to develop. As a result, investors in the Company may be required to hold their interests for the entire term of the Company. Consequently, the purchase of interests should be considered only as a long-term and illiquid investment and Shares should only be acquired by Investors who are able to commit their funds for an indefinite period of time.
• Certain employees of the Adviser will have conflicts of interest in allocating their time between the Company and their other business activities. Additionally, affiliates of the Adviser own and may continue to own in the future, other properties outside the Portfolio, which may result in a conflict of allocation of services and costs.
• We may pay distributions from sources other than our cash flow from operations, including, without limitation, the sale of assets, borrowings or offering proceeds, and we have no limits on the amounts we may pay from such sources.
• Failure to qualify as a Real Estate Investment Trust (“REIT”) for U.S. federal income tax purposes would adversely affect our operations and our ability to make distributions.

NexPoint Real Estate Advisors IX, L.P. (the “Adviser”) acts as the adviser to the Company and the sole sponsor of the Offering.

The Adviser, which is also the sole sponsor of the Offering, is a wholly owned subsidiary of NexPoint Real Estate Advisors, L.P. (“NREA”). NREA is wholly owned by NexPoint Advisors, L.P. (“NexPoint”).

NexPoint Securities, Inc., member FINRA/SIPC, is the dealer manager for the Offering.