The Evergreen Advantage Management, Inc.

The Evergreen Advantage Management, Inc. is a California-based investment advisor firm established in June 2009. The firm specializes in providing investment advisory and management services exclusively for The Evergreen Advantage, LLC, a real estate investment trust focusing on loans secured by real estate, primarily in California. As of December 31, 2022, the firm manages $249,300,000 in assets for TEA on a discretionary basis. The fee structure includes asset management fees of up to 2.0% annually and loan servicing fees of up to 1.5% annually. TEAM does not charge performance-based fees or engage in side-by-side management. TEAM's investment strategies involve analyzing loan-to-value ratios, lien priorities, and borrower credit evaluations to manage risks associated with investing in trust deeds. Risks include lack of liquidity, borrower defaults, declines in real estate values, and leverage risks. The firm exercises investment discretion in managing TEA's account and has custody of TEA's funds and securities, subject to safeguarding procedures. The firm has a Business Continuity Plan in place for emergency situations. TEAM's principals are Dan Zuckerman, Jesse Brunner, Maurice Singer, and Steve Adler, who manage the firm's day-to-day operations and investment services. No disciplinary information or legal events are disclosed, and the firm does not have relationships with other investment advisors.