BAY AREA & PACIFIC COAST DEVELOPMENT, INC. (“BAPCD, Inc.”) a California Corporation, that was incorporated: January 02, 2013, and effective: July 25, 2016, Registration Status: Approved: as a Registered Investment Advisory Firm (the “Advisor”) with its principal place of business located in Oakland, California and the Advisor is wholly owned by MILTON BOYD, JR. Investment Advisor Representative.

The Advisor exclusively sponsors and manages our private fund, a “Securitized Real Asset” and “Target Return Fund” the COMMERCIAL REAL ESTATE FUND, LLC. ((the “CRE FUND”) and (the “ISSUING ENTITY”)) a Limited Liability Company issuing Original Issue Discount-Commercial Mortgage-Backed Securities (“OID-CMBS”) and shall be organized under the laws of Delaware (yet to be formed). The Advisor sponsors the CRE FUND pursuant to Rule 501 and Rule 506(b) of Regulation D under Section 4(a)(2) of the Securities Act of 1933 and Section 3(c)(1) of the Investment Company Act of 1940 by delivering a copy of our most recent Firm Brochure, Firm Brochure Supplement, Private Placement Memorandum, Trust Indenture and Subscription Agreement: The Transaction Documents to Eligible Investors. Consequently, Eligible Investors who purchase OID-CMBS of the CRE FUND and other persons who acquire OID-CMBS and are admitted to the CRE FUND by the Board will become Holders of the CRE FUND.