Greenspace 4Q 2017 Quarterly Update Dear Greenspace JV LLC Investors, Greetings from Fairway America. We are pleased to provide you with this update on the Camelot syndication for 4Q 2017. Overall, we are very pleased with the progress that has been made and the value that has been created through the first 6 months of this investment. Despite hurricane Harvey’s record-breaking floods, over-active rainy periods, and several rare snow and ice storms since breaking ground in August of last year; the construction is progressing mostly as planned. The project is approximately 52% complete, and the Sponsor expects to achieve substantial completion / Certificate of Occupancy (CO) by April - May of 2018. If the Sponsor’s completion estimates are correct; they will complete a 3-story, 130,000SF self-storage facility in under 9 months.   Container prices increased after project initiation as a direct repercussion from hurricane Maria which devastated Puerto Rico. FEMA seized thousands of containers from the Houston area to transport aid and supplies to support the survival and rebuilding efforts there. This significantly reduced supply, increasing container prices. While this caused container expense to be over-budget, the Sponsor found savings in other expense categories to keep the project within budget. The project exit strategy is still to sell the facility at or near Certificate of Occupancy. Greenspace Time Lapse Video We continue to remain enthusiastic about the long term prospects of the business plan for the property and anticipate that once renovation complete, cash flow to investors should continue to increase. Thank you for your investment. If you have any questions please do not hesitate to contact Bryan Hays (503) 906-1128 or Mike Miller (503) 906-1284. 6650 SW Redwood Lane Suite 290 Portland, Oregon 97224

Greenspace 4Q 2017 Disclaimer Certain statements contained in this letter including, without limitation, statements containing the words “believe,” “anticipate,” “plan,” “intend,” “expect,” and words of similar import constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause the actual results, performance, or achievements of the Fund to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Given such uncertainties, you are cautioned not to place undue reliance on such forward-looking statements. Fairway and the Fund disclaim any obligation to update such factors or to announce the result of any revisions to any of the forward-looking statements contained herein to reflect future events or developments. In considering the performance information contained herein, investors should bear in mind that there can be no assurance that the Fund will achieve projected results. Actual future conditions may require actions that differ from those contemplated at this time and prospective investors are cautioned not to place undue reliance on these projections. Similarly, the past performance of the Fund is not indicative of the Fund’s future results or returns. Investors should not rely on the Fund’s prior performance in making or maintaining an investment in the Fund and should not expect that the Fund will necessarily achieve the same or similar results in the future. While we have attempted to ensure that the numbers quoted in this letter are accurate to the best of our knowledge, all of them remain subject to revision, including revisions based on mistakes of math or fact, or other errors. The Fund, however, undertakes no obligation to update or correct any numbers if such errors are later discovered. 6650 SW Redwood Lane Suite 290 Portland, Oregon 97224