Mesa West Capital, LLC (“Mesa West” or the “Adviser”) was formed in 2004 and registered with the SEC under the Investment Advisers Act of 1940, as amended (the “Advisers Act”) in 2011. The Adviser is owned by MSREI Holding, Inc. (“MSHI”) a wholly-owned direct subsidiary of Morgan Stanley (collectively, with its affiliates, “Morgan Stanley”). As of December 31, 2023, the Adviser had approximately $9,055,490,356 of regulatory assets under management, of which $8,721,433,805 was managed on a discretionary basis and $334,056,551 was managed on a non-discretionary basis. Affiliates of Mesa West manage assets on a discretionary basis on behalf of the following clients: Mesa West Real Estate Income Fund, IV, L.P. (“MWREIF IV”), Mesa West Real Estate Income Fund V, L.P. (“MWREIF V”), MWREIF IV Holdings, LLC (“Holdings LLC”), and MWC 49 L.P. (“MWC 49”) (collectively, the “Closed-end Funds”) and Mesa West Core Lending Fund, L.P. (“Core Fund” or the “Open-end Fund”), which are together with other respective related parallel, co-investment and feeder vehicles, collectively, the “Funds” or singularly, a “Fund”. Additionally, affiliates of Mesa West manage assets on a non-discretionary basis to certain other Separate Account clients (collectively referred to as the “Separate Accounts” or singularly, a “Separate Account”). Mesa West provides discretionary investment advisory services to private investment funds (the Funds) and non-discretionary investment advisory services to the Separate Accounts. The Funds and Separate Accounts primarily invest in debt interests in commercial real estate related assets located in the U.S. with a substantial current income component. Wholly-owned affiliates of Mesa West serve as the general partner each to MWREIF IV, L.P., MWREIF V, L.P., Holdings, LLC, MWC 49 and the Core Fund. Each Fund is managed by its respective general partner. Additionally, a wholly owned affiliate of Mesa West, Mesa West DSA, LLC, serves as the advisor to certain separate accounts (the “Separate Account Advisor”) under respective agreements with single institutional investors. For ease of reference, Mesa West and any general partner to a Fund or advisor to a Separate Account are referred to, collectively,

throughout this brochure as “Mesa West” or the “Adviser.” Mesa West is responsible for identifying investment opportunities for the Funds and Separate Accounts, as well as facilitating the acquisition, monitoring, and disposition of each of the investments. Mesa West provides investment advice to the Funds and Separate Accounts, or “clients”. Mesa West tailors its investment advisory services to the individual needs of each Fund or Separate Account, in accordance with the investment objectives, strategies and limitations (if any) described in each Fund’s respective offering documents, limited partnership agreement, limited liability company agreement and in each Separate Account’s advisory agreements. Each of the Funds is organized as either a Delaware limited partnership or Delaware limited liability company and certain wholly-owned affiliates of the Funds that may consummate or hold investments are organized as Delaware limited liability companies. The Separate Account Advisor is organized as a Delaware limited liability company. While not currently used or anticipated, Mesa West has the ability to provide Fund investors the right to participate in a separate pooled investment vehicle (“Fund Sidecar”) for the purpose of participating on a levered or unlevered basis in certain co-investment opportunities with a particular Fund. Investors may make a commitment to the Fund Sidecar, when made available, and the amount of which will be determined in Mesa West’s discretion. The Adviser’s affiliation with Morgan Stanley, including Morgan Stanley Real Estate Investing, the real estate investing business of Morgan Stanley, together with its subsidiaries and the supporting units dedicated to the real estate investing business (collectively, “MSREI”), provides it with access to valuable relationships, market knowledge, and financial and operating expertise. Morgan Stanley has been engaged in the real estate business since 1969 and the investing businesses employ professionals worldwide who have demonstrated a proven ability to source deals, structure complex transactions and identify multiple exit strategies which enhance the advisory clients’ ability to meet their return objectives.