STARLIGHT U.S. RESIDENTIAL (MULTI-FAMILY) INVESTMENT LP PROVIDES UPDATE ON VENTURA PROPERTY

Executive Summary

• Starlight U.S. Residential (Multi‑Family) Investment LP (“SURF LP”) received a notice of maturity default from the first mortgage lender on its Ventura Apartments property, dated February 9 2026.
• The lender now has the right to demand repayment and may pursue foreclosure or a sale of the property if a loan modification is not reached.
• SURF LP continues good‑faith negotiations for a loan extension/modification and does not expect a material impact on its net asset value from any potential remedies.

Key Details

• Notice of Default: Received from the lender of the loan secured by Ventura Apartments; maturity date was February 9 2026.
• Lender Remedies: Include demand for repayment, foreclosure sale, or third‑party purchase at a foreclosure sale with proceeds applied to outstanding amounts.
• Current Status: No remedies have been exercised to date; negotiations are ongoing to modify and extend the loan.
• Impact Assessment: Management states that even if remedies were exercised, they do not anticipate a material impact on SURF LP’s net asset value.
• Property Portfolio Context: SURF LP owns interests in three multi‑family properties totaling 1,029 suites.
• Forward‑Looking Statements: Highlight risks related to credit conditions, interest rates, foreign exchange, regulatory changes, and the uncertainty surrounding potential lender actions.

Notable Quotes

• “The LP does not expect a material impact on its net asset value as a result of any remedies the Lender may exercise.” – President Evan Kirsh

Materiality Assessment: Non‑Material – Neutral (the release informs investors of a default notice and ongoing negotiations but indicates no expected material effect on valuation).