FOR FINANCIAL PROFESSIONAL USE ONLY. NOT FOR PUBLIC DISTRIBUTION.1 Liquidity only provided through quarterly repurchase offers for no less than 5% of the Fund’s shares at net asset value.There is no guarantee that an investor will be able to sell all shares in a repurchase offer.

The Fund is a newly operational, continuously offered, closed-end management Investment Company that is operated as an interval fund. Shares of the Fund will not be listed on any securities exchange, are not redeemable and not appropriate for investors requiring liquidity. You may receive little or no return on your investment or you may lose money by investing in the Fund.

A GATEWAY TO PRIVATE CORE REAL ESTATE

• A 1940 Act Investment Company • The Foundation of an Allocation to the Real Estate Asset Class• Invests in Institutional U.S. Core Property Funds• Utilizes a Passive (Beta) Strategy • Seeks Stable and Predictable Income• Quarterly Liquidity Available1

Leadership Team, PREDEX Capital Management, LLC

William J. ChadwickFounder, Chadwick Saylor & Co. Real Estate Investment Banking.

Former Chairman,Pension Real Estate Association

Trustees of the Fund

Dr. Kerry VandellProfessor Real EstateFinance & Director, Center for Real Estate UC-Irvine.

Former DepartmentChair of Real Estate,University of Wisconsin

Carol BroadFormer Director, PrivateReal Estate, Russell Investments.

Ran Russell’s multi-manager private real estate business; $3.2 B in AUM

Addison [Tad] PiperFormerly Chairman & CEOat Piper Jaffray Companiesin Minneapolis, 1983-2006.

Senior Regent, St. Olaf College

The Fund will not invest in real estate directly but will concentrate its investments in other funds that invest principally in real estate and real estate related industry securities (“Underlying Investment Vehicles”). Portfolio returns will be significantly impacted by the performance of the real estate market. In general, real estate values can be affected by a variety of factors: supply and demand for properties, the economic health of the country or of different regions, and the strength of specific industries that rent properties.PREDEX’s distribution policy may, under certain circumstances, have certain adverse consequences to the Fund and its shareholders because it may result in a payment that is a return of capital, rather than a distribution. Fund shareholders will bear two layers of fees and expenses: asset-based fees and expenses at the PREDEX level, and asset-based fees, incentive allocations or fees and expenses at the Underlying Investment Vehicle level. PREDEX’s performance depends in large part upon the performance of the Underlying Investment Vehicle managers and their selected strategies. The Fund is non-diversified and its performance may be more sensitive to any single economic, business, political or regulatory occurrence because PREDEX may invest more than 5% of its total assets in the securities of one or more issuers.Quarterly repurchases by PREDEX of its shares typically will be funded from available cash or sales of portfolio securities. Payment for repurchased shares may require PREDEX to liquidate portfolio holdings earlier than the Adviser otherwise would liquidate such holdings, potentially resulting in losses. The use of leverage (borrowing money to purchase properties or securities) will cause an Underlying Investment Vehicle to incur additional expenses and significantly magnify losses in the event of underperformance of the assets purchased with borrowed money.Investors should carefully consider the investment objectives, risks, charges and expenses of the PREDEX Fund. This and other important information about the Fund is contained in the prospectus, which can be obtained by calling 1-877-940-7202. The prospectus should be read carefully before investing. The PREDEX Fund is distributed by Northern Lights Distributors, LLC, Member FINRA/SIPC. PREDEX Capital Management, LLC is not affiliated with Northern Lights Distributors, LLC.5671-NLD-12/02/2016

18500 Von Karman Ave., Suite 350 | Irvine, CA 92612 | (949) 336-3445 | www.PREDEXcapital.com

J. Grayson SandersPresident & CIO

44 years of real estate operating company, fund formation and fund management experience.

Bradley D. ChildsPartner

44 years of commercial real estate, mortgage banking, private equity, and venture capital experience.

Michael D. AchterbergChief Operating Officer

28 years of experience in the investment industry as audit manager at a Big 4 firm and CFO/CCO for RIAs.

Sharon P. LinnikPartner

28 years of global capital markets and real estate experience as EVP, business development at a $2 B RIA.

AEW Capital Management Gugggenheim Real Estate Principal Real Estate Investors

American Realty Advisors Heitman Capital Management Prologis

Barings Real Estate Invesco Real Estate Prudential Real Estate Investors

Bentall Kennedy J.P. Morgan Asset Management Sentinel Fund Advisors

Blackrock Real Estate LaSalle Investment Management Stockbridge Core & Value Advisors

CBRE Global Investors L&B Realty Advisors TIAA-CREF Global Asset Management

Clarion Partners MetLife Investment Management UBS Realty Investors

Deutsche Bank Morgan Stanley USAA Real Estate Company

Filling a Void in Investor Portfolios

PREDEX is one of the First Core Real Estate Funds of its Kind

CORE

Numerous higher risk, Non-Core Real Estate Funds exist

VALUE ADDEDRepositioning, Renovation,

Re-leasing

OPPORTUNISTICDevelopment, Financial

Engineering, Distressed Sellers

RET

UR

N

RISK

High Occupancy Multi-Tenant Properties

Access to Experienced Management

The referenced index is shown for general market comparison and is not meant to represent the Fund. The performance of the index is not illustrative of the Fund’s performance. Investors cannot directly invest in an index; unmanaged index returns do not reflect any fees, expenses or sales charges. The PREDEX Fund is a new fund with a limited history. For Fund performance information current to the most recent month-end, please call 877-940-7202. Past performance is no assurance of future results.

Invests in Institutional U.S. Core Real Estate Funds • Funds own high quality office, industrial, retail, and apartment properties located primarily in the top 25 US metropolitan areas • Managers and Funds have established track records — up to 45 years in length • Anticipate owning 20-25 Funds totaling >2,000 specified properties valued > $100B

A low-cost Passive (‘Beta’) Strategy2

• PREDEX operates within the NFI-ODCE Index guidelines3 for leverage, property type and geographic diversification

Potential Investor BenefitsFoundation of an Allocation to Real Estate • Low correlation to US equities and traded REITs creates portfolio diversification benefits4

• Attractive for both taxable and tax-exempt investors • Hedge against inflation

Attractive Alternative for Fixed-Income Allocation • Quarterly cash distributions can be taken in cash or reinvested • Real estate distributions may grow with increased earnings

Low Annual Asset Management Fee of 0.55%5

Fund Facts • Daily Pricing • Interval Fund Structure • Quarterly repurchase offers for no less than 5% of the Fund’s shares at net asset value • Minimum Investment: $1,000,000 (less with pre-approval, including RIAs aggregating accounts for benefit of clients)

A New Approach – PREDEX

Low Correlation to Other Assets

Seeks Stable Income

Seeks Low Volatility

Potential Inflation Hedge

Why Core Real Estate?

The Advisor: PREDEX Capital Management • The principals have over 100 years of relevant experience including the creation and management of institutional real

estate funds

The Underlying Fund Sponsors• The targeted funds are managed by leading institutional real estate firms including:

Advisor: PREDEX Capital ManagementCustodian: BNY MellonAuditor: RSM US LLPLegal: Thompson HineAdministrator/Transfer Agent: Gemini Fund ServicesDistributor: Northern Lights Distributors

Service Providers

There is no assurance that the Fund will achieve its investment objective.3

2“Beta” is defined as a measure of a fund’s sensitivity to market movements (Morningstar). A passive beta strategy is designed to represent the characteristics of a designated index. 3NCREIF Fund Index - Open End Diversified Core Equity is an index of investment returns reporting on both a historical and current basis the results of 36 open-end commingled funds pursuing a diversified core investment strategy. The criterion for inclusion includes but is not limited to: no more than 40% leverage; at least 80% must be invested in office, industrial, apartment and retail property types; no more than 65% may be invested in one property type or one geographic region. The Fund invests up to 95% of its total assets in Institutional Private Funds under normal circumstances. Some Institutional Private Funds are included in the National Council of Real Estate Investment Fiduciaries Open End Diversified Core Equity Index (the “NFI-ODCE Index” or “Index”). Under normal market conditions, the Fund invests at least 50% of its Institutional Private Fund assets in Index-members. The NFI-ODCE Index is not a mutual fund and would not be considered diversified under the 1940 Act. See ncreif.org for more information on the NFI-ODCE Index and all its guidelines.4No amount of diversification or correlation can ensure profits or prevent losses.5The total annual fund expenses including the management fee are estimated to be 1.00% and subject to a 1.20% limitation.

PREDEX is one of theFirst Core Real EstateFunds of its Kind

Higher risk, Non-CoreReal Estate Funds exist

Filling a Void in Investor Portfolios

PREDEX is one of the First Core Real Estate Funds of its Kind

CORE

Numerous higher risk, Non-Core Real Estate Funds exist

VALUE ADDEDRepositioning, Renovation,

Re-leasing

OPPORTUNISTICDevelopment, Financial

Engineering, Distressed Sellers

RET

UR

N

RISK

High Occupancy Multi-Tenant Properties

AEW Capital Management Harrison Street Principal Real Estate Investors

American Realty Advisors Heitman Capital Management Prologis

Barings Real Estate Invesco Real Estate Prudential Real Estate Investors

Bentall Kennedy J.P. Morgan Asset Management Sentinel Fund Advisors

Blackrock Real Estate LaSalle Investment Management Stockbridge Core & Value Advisors

Clarion Partners L&B Realty Advisors TIAA-CREF Global Asset Management

Deutsche Bank MetLife Investment Management UBS Realty Investors

Guggenheim Real Estate Morgan Stanley USAA Real Estate Company

Filling a Void in Investor Portfolios

PREDEX is one of the First Core Real Estate Funds of its Kind

CORE

Numerous higher risk, Non-Core Real Estate Funds exist

VALUE ADDEDRepositioning, Renovation,

Re-leasing

OPPORTUNISTICDevelopment, Financial

Engineering, Distressed Sellers

RET

UR

N

RISK

High Occupancy Multi-Tenant Properties

Access to Experienced Management

The referenced index is shown for general market comparison and is not meant to represent the Fund. The performance of the index is not illustrative of the Fund’s performance. Investors cannot directly invest in an index; unmanaged index returns do not reflect any fees, expenses or sales charges. The PREDEX Fund is a new fund with a limited history. For Fund performance information current to the most recent month-end, please call 877-940-7202. Past performance is no assurance of future results.

Invests in Institutional U.S. Core Real Estate Funds • Funds own high quality office, industrial, retail, and apartment properties located primarily in the top 25 US metropolitan areas • Managers and Funds have established track records — up to 45 years in length • Anticipate owning 20-25 Funds totaling >2,000 specified properties valued > $100B

A low-cost Passive (‘Beta’) Strategy2

• PREDEX operates within the NFI-ODCE Index guidelines3 for leverage, property type and geographic diversification

Potential Investor BenefitsFoundation of an Allocation to Real Estate • Low correlation to US equities and traded REITs creates

portfolio diversification benefits4

• Attractive for both taxable and tax-exempt investors • Hedge against inflation

Attractive Alternative for Fixed-Income Allocation • Quarterly cash distributions can be taken in cash or reinvested • Real estate distributions may grow with increased earnings

Low Annual Asset Management Fee of 0.55%5

Fund Facts • Daily Pricing • Interval Fund Structure • Quarterly repurchase offers for no less than 5% of the Fund’s shares at net asset value • Minimum Investment: $1,000,000 (less with pre-approval, including RIAs aggregating accounts for benefit of clients)

A New Approach – PREDEX

Low Correlation to Other Assets

Seeks Stable Income

Seeks Low Volatility

Potential Inflation Hedge

Why Core Real Estate?

The Advisor: PREDEX Capital Management • The principals have over 100 years of relevant experience including the creation and management of institutional real

estate funds

The Underlying Fund Sponsors• The targeted funds are managed by leading institutional real estate firms including:

Advisor: PREDEX Capital ManagementCustodian: BNY MellonAuditor: RSM US LLPLegal: Thompson HineAdministrator/Transfer Agent: Gemini Fund ServicesDistributor:

Northern Lights Distributors

Service Providers

There is no assurance that the Fund will achieve its investment objective.3

2“Beta” is defined as a measure of a fund’s sensitivity to market movements (Morningstar). A passive beta strategy is designed to represent thecharacteristics of a designated index. 3NCREIF Fund Index - Open End Diversified Core Equity is an index of investment returns reporting on both a historical and current basis the results of 36 open-end commingled funds pursuing a diversified core investment strategy. The criterion for inclusion includes but is not limited to: no more than 40% leverage; at least 80% must be invested in office, industrial, apartment and retail property types; no more than 65% may be invested in one property type or one geographic region. The Fund invests up to 95% of its total assets in Institutional Private Funds under normal circumstances. Some Institutional Private Funds are included in the National Council of Real Estate Investment Fiduciaries Open End Diversified Core Equity Index (the “NFI-ODCE Index” or “Index”). Under normal market conditions, the Fund invests at least 50% of its Institutional Private Fund assets in Index-members. TheNFI-ODCE Index is not a mutual fund and would not be considered diversified under the 1940 Act. See ncreif.org for more information on the NFI-ODCEIndex and all its guidelines.4No amount of diversification or correlation can ensure profits or prevent losses.5The total annual fund expenses including the management fee are estimated to be 1.00% and subject to a 1.20% limitation.

PREDEX is one of theFirst Core Real EstateFunds of its Kind

Higher risk, Non-CoreReal Estate Funds exist

Filling a Void in Investor Portfolios

PREDEX is one of theFirst Core Real EstateFunds of its Kind

CORE

Numerous higher risk, Non-CoreReal Estate Funds exist

VALUE ADDEDRepositioning, Renovation,

Re-leasing

OPPORTUNISTICDevelopment, Financial

Engineering, Distressed Sellers

RET

UR

N

RISK

High OccupancyMulti-Tenant Properties

FOR FINANCIAL PROFESSIONAL USE ONLY. NOT FOR PUBLIC DISTRIBUTION.1 Liquidity only provided through quarterly repurchase offers for no less than 5% of the Fund’s shares at net asset value.There is no guarantee that an investor will be able to sell all shares in a repurchase offer.

The Fund is a newly operational, continuously offered, closed-end management Investment Company that is operated as an interval fund. Shares of the Fund will not be listed on any securities exchange, are not redeemable and not appropriate for investors requiring liquidity. You may receive little or no return on your investment or you may lose money by investing in the Fund.

A GATEWAY TO PRIVATE CORE REAL ESTATE

• A 1940 Act Investment Company • The Foundation of an Allocation to the Real Estate Asset Class• Invests in Institutional U.S. Core Property Funds• Utilizes a Passive (Beta) Strategy • Seeks Stable and Predictable Income• Quarterly Liquidity Available1

Leadership Team, PREDEX Capital Management, LLC

William J. ChadwickFounder, Chadwick Saylor & Co. Real Estate Investment Banking.

Former Chairman,Pension Real Estate Association

Trustees of the Fund

Dr. Kerry VandellProfessor Real EstateFinance & Director, Center for Real Estate UC-Irvine.

Former DepartmentChair of Real Estate,University of Wisconsin

Carol BroadFormer Director, PrivateReal Estate, Russell Investments.

Ran Russell’s multi-manager private real estate business; $3.2 B in AUM

Addison [Tad] PiperFormerly Chairman & CEOat Piper Jaffray Companiesin Minneapolis, 1983-2006.

Senior Regent, St. Olaf College

The Fund will not invest in real estate directly but will concentrate its investments in other funds that invest principally in real estate and real estate related industry securities (“Underlying Investment Vehicles”). Portfolio returns will be significantly impacted by the performance of the real estate market. In general, real estate values can be affected by a variety of factors: supply and demand for properties, the economic health of the country or of different regions, and the strength of specific industries that rent properties.PREDEX’s distribution policy may, under certain circumstances, have certain adverse consequences to the Fund and its shareholders because it may result in a payment that is a return of capital, rather than a distribution. Fund shareholders will bear two layers of fees and expenses: asset-based fees and expenses at the PREDEX level, and asset-based fees, incentive allocations or fees and expenses at the Underlying Investment Vehicle level. PREDEX’s performance depends in large part upon the performance of the Underlying Investment Vehicle managers and their selected strategies. The Fund is non-diversified and its performance may be more sensitive to any single economic, business, political or regulatory occurrence because PREDEX may invest more than 5% of its total assets in the securities of one or more issuers.Quarterly repurchases by PREDEX of its shares typically will be funded from available cash or sales of portfolio securities. Payment for repurchased shares may require PREDEX to liquidate portfolio holdings earlier than the Adviser otherwise would liquidate such holdings, potentially resulting in losses. The use of leverage (borrowing money to purchase properties or securities) will cause an Underlying Investment Vehicle to incur additional expenses and significantly magnify losses in the event of underperformance of the assets purchased with borrowed money.Investors should carefully consider the investment objectives, risks, charges and expenses of the PREDEX Fund. This and other important information about the Fund is contained in the prospectus, which can be obtained by calling 1-877-940-7202. The prospectus should be read carefully before investing. The PREDEX Fund is distributed by Northern Lights Distributors, LLC, Member FINRA/SIPC. PREDEX Capital Management, LLC is not affiliated with Northern Lights Distributors, LLC.5671-NLD-12/02/2016

18500 Von Karman Ave., Suite 350 | Irvine, CA 92612 | (949) 336-3445 | www.PREDEXcapital.com

J. Grayson SandersPresident & CIO

44 years of real estate operating company, fund formation and fund management experience.

Bradley D. ChildsPartner

44 years of commercial real estate, mortgage banking, private equity, and venture capital experience.

Michael D. AchterbergChief Operating Officer

28 years of experience in the investment industry as audit manager at a Big 4 firm and CFO/CCO for RIAs.

Sharon P. LinnikPartner

28 years of global capital markets and real estate experience as EVP, business development at a $2 B RIA.