TASK

XYZ company is the General Partner $($GD$)$ and sponsor of a discretionary real estate fund that acquites and operates commercul real estate. The fand sumed Partners $($US$)$ include limited partner $1$ and limited partner $2.$ Capital contributions to the fund were made as follow:

LP $1-55\%$ of committed capital

LP $2-40\%$ of comminted capital

op$-5\%$ of committed capital $[$in addition to its role as GP$]$

The fund has now fully liquidated its portfolio and will distribute $$265,000,000$ in net proceeds on hone $30,2025.($contributions and prior distributions$)$ can be found in Bee altached "Tquity Activity" tab.

Please review the equity activity, apply the waterfall terms, and proves

A summary of distributions to each investor

A clear breakdown of each tier in the waterfall

Any assumptions made in your analysis

Distributions

Distributable cash shall be divvibuted by the Fund in the following order of prioring:

First, so the investors pro rata in proportion to their respective percentage interests unstinestors favereceived an $8$ wit:

$\backslash$table$[[1,$Eguity Centrilitations,is$,$c$,,,,,,,,],[2,$Limited Partner $1,5514,,,,,,,,,],[3,$Uimited Partner $2,4014,,,,,,,,,],[5,$General Partner,$5$N$,,,,,,,,,],[6,,100\%,,,,,,,,,],[7,$Egulty,,,,,,,,,,$],[8,,3/1/2018,9/4/2018,5/6/2019,1/1/2002,,,,,,],[9,,$Contribution,Contribution,Contribution,Distribution,$8/15/9002,9/15/20022,78/2003,1/5/2004,6/10001,65002*25],[10,$Limited Partner $1,(61600600\mathrm{.}00),(16500000\mathrm{.}00),(8800000\mathrm{.}00),,$Distribution,Distribution,Distritution,Ditatibution,Distribution,$],[11,$Uimited Partner $2,,,,7700000\mathrm{.}00,,302500\mathrm{.}00,11000000\mathrm{.}00,27500700\mathrm{.}00,$$$0000000\mathrm{.}00,],[,,(44800000\mathrm{.}00),(12000000\mathrm{.}00),(6400000\mathrm{.}00),,200000\mathrm{.}09,220800\mathrm{.}00,8000000\mathrm{.}09,20000000\mathrm{.}00,24500908\mathrm{.}00,],[12,$General Partner,$(5600000\mathrm{.}00),(15007000\mathrm{.}00),(800000\mathrm{.}00),700000\mathrm{.}00,25000\mathrm{.}00,27500\mathrm{.}00,1000000\mathrm{.}00,2500000\mathrm{.}00,3000000\mathrm{.}00,],[13,$Total,,,,,,,,,,$],[14,,,,,,,,,,,],[15,,,,,,,,,,,],[16,,,,,,,,,,,]]$