PC · PRIVATE CREDIT

Pender Real Estate Credit Fund

Pender Capital Management · Real Estate Credit Interval Fund

Program Overview

Real Estate Credit Interval Fund

Peer Group Filters

Objectives: IncomeCapital Preservation
Asset Class: Private Credit
Vehicle: Interval Fund
Single / Multi Asset: Multi-Asset

Sponsor/Manager

Pender Capital Management

Asset Class

Private Credit

Issuer

Pender Real Estate Credit Fund

Issuer Legal Structure

Delaware Statutory Trust

Program Life Structure

Perpetual

Securities Offered

Equity - I1 Class Shares Equity - I2 Class Shares Equity - A Class Shares

Target Leverage

Maximum 33% debt-to-total-assets Limit is 33.33% of total assets (50% of net assets), also applied through wholly owned subsidiaries and SPVs. At June 30, 2026, lines of credit were $131,681,250 against total assets of $613,512,740 (about 21.5%). Facilities: Huntington and b1BANK.

Strategy Risk/Return Profile

Managing Broker-Dealer

Distribution Services, LLC

Minimum Investment

$2,500

A Class Shares · waivable

Strategy Overview

The prospectus states the Fund seeks risk-adjusted current income while prioritizing capital preservation. Under normal circumstances it invests at least 95% of net assets in real estate-related credit, mainly 12- to 36-month senior-secured bridge loans originated by the Investment Manager, targeting $10M to $30M loans and a weighted-average loan-to-value of 65% or less. The Manager anticipates 85% to 95% in private debt, with the balance in publicly traded real estate debt such as CMBS, CLOs and RMBS.

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