Versus Capital Registers an Additional $2 Billion of Shares and Raises the Investment Minimum of its Multi-Manager Real Estate Income Fund to $10 Million

The Versus Capital Multi-Manager Real Estate Income Fund ("VCMIX"), registered an additional $2 billion of shares, bringing the total registered share value to $4 billion. Additionally, in coordination with Versus Capital Advisor's desire to provide valuable products and services to its select group of clients, Versus Capital increased its minimum investment threshold for VCMIX, to $10 million, aggregate per Registered Investment Advisor firm.

"We believe Versus Capital can be a differentiating factor for our RIA clients who strive to lower risk and diversify client portfolios with real assets," said Casey Frazier, CIO of Versus Capital. "We seek to provide investment funds, research and advice to advisory firms that are long-term strategic asset allocators and make meaningful allocations to the investment strategies they believe in."

Mark Quam, CEO of Versus Capital added, "In a market environment where asset managers are lowering investment minimums and attempt to increase assets by pursuing all distribution channels, Versus Capital continues to move in the other direction. It may seem unconventional, but we believe it is critical for long-term success to cultivate deep and trusted relationships with RIAs that understand our strategy and the unique characteristics of our fund. We also believe investors are best served by financial advisors that adhere to a fiduciary standard."

"With these beliefs in mind, we increased our investment minimum to $10 million and remain committed to offering our distinctive investment strategies to Registered Investment Advisors ("RIAs"), private banks and institutional investment consultants."

About Versus Capital Multi-Manager Real Estate Income Fund (Ticker: VCMIX) and Versus Capital Advisors LLC:

VCMIX is a continuously offered closed-end interval fund, registered under the Investment Company Act of 1940. The Fund is designed to serve as a core real estate holding, providing access to institutional real estate managers and a portfolio of private real estate investment funds. As of 4/1/17 the Gross Asset Value of the underlying real estate in the Private Real Estate Funds in which VCMIX is invested is approximately $98.7 billion, comprised of 1,154 properties. The advisor of the Fund is Versus Capital Advisors LLC, a privately held, investment and asset management company with $1.45 billion in assets under management.

Performance data current to the most recent month-end may be obtained by calling 303-221-0606 or by visiting www.versuscapital.com

Risks

CAREFULLY CONSIDER THE FUND'S INVESTMENT OBJECTIVES, RISKS, CHARGES, AND EXPENSES BEFORE INVESTING. YOU CAN OBTAIN THE PROSPECTUS AND SUMMARY PROSPECTUS WITH THIS AND OTHER INFORMATION ABOUT THE FUND FROM THE VERSUS CAPITAL WEB SITE (versuscapital.com). READ THEM CAREFULLY BEFORE INVESTING. AN INVESTMENT IN THE FUND IS SUBJECT TO A HIGH DEGREE OF RISK.

The Fund does not intend to list its Shares on any securities exchange during the offering period, and a secondary market in the Shares is not expected to develop. There is no guarantee that shareholders will be able to sell all of their tendered shares during a quarterly repurchase offer. An investment is not suitable for investors that require liquidity, other through the Fund's repurchase policy. You should not expect to be able to sell your Shares other than through the Fund's repurchase policy, regardless of how the Fund performs.

Real estate is subject to special risks, among which are tenant default, environmental problems, and adverse changes in local economic conditions. The yield from an underlying investment fund could be significantly reduced if it fails to qualify as a REIT (real estate investment trust) for tax purposes. The Fund's investments also may be negatively affected by the broad investment environment. Although the Fund is intended to provide a means by which investors can diversify their portfolios into real estate, the Fund itself is "non-diversified" under the Investment Company Act of 1940 since changes in the market value of a single holding may cause a greater fluctuation in the Fund's net asset value than in a "diversified" fund. The Fund is not intended to be a complete investment program. Investors are reminded that portfolio diversification does not ensure a profit or guarantee against a loss

A multi-manager strategy involves certain risks. For example, the success of the Fund depends in large part upon the ability of the Adviser to choose successful Investment Managers. It is possible that some Investment Managers may take similar market positions, thereby interfering with the Fund's investment goal. The Fund and underlying Investment Managers may borrow as an investment strategy. The Fund intends to limit borrowing to one third of its gross asset value. While borrowing presents opportunities to increase the Fund's total return, it potentially increases the losses as well. Under certain circumstances, the Fund's distribution policy could result in a return of capital, potentially causing the Fund's expense ratio to increase. The Adviser, Sub-Adviser, and Investment Mangers manage portfolios for themselves and for clients other than the Fund. A conflict between the interests of the Fund and the interests of these other parties may arise in certain situations which potentially could disadvantage the Fund. For example, a suitable but limited investment opportunity might be allocated to another client rather than to the Fund.

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