Income producing, diversified portfolio of Bridge Loans backed by U.S. Real Estate
INVESTMENT STRATEGY
• Multi-Lender: loans managed by well-established, highly experienced U.S. Real Estate Private Lenders (SEC-registered RIAs)
• Middle-market real estate (loan sizes typically $10mn-$200mn)
• Major metropolitan areas of the United States
• Mainly residential for rental (Multifamily & Senior Living) and sale (Condominiums)
• Predominantly floating rate (spread over SOFR)
• Uncorrelated and low volatility
• Noteholders’ investments are fully invested on day one (no capital calls).
• Target net returns: SOFR +6% to 8%(*)
• Trades monthly via Euroclear/Clearstream
• Quarterly distributions of Cash Net Income
• NAV published monthly on Bloomberg, SIX Financial, Vienna Stock Exchange
• Principal repayments begin in December 2026
• Minimum investment:
• US$125,000 (Institutional Notes)
• US$10,000 (Investor Notes)
• ISIN Institutional Notes: XS2705065006
• ISIN Investor Notes: XS2705065261
(*) Target Net Returns for the Institutional Notes
LOANS PORTFOLIO UPDATE: 31 May 2026
May 2026 net return for investors¹:
Institutional Notes: +0.83%
Investor Notes: +0.78%
Loan-to-Value (LTV) WAVG: 64%
Total Loan Positions: 53
Remaining term WAVG²: 16 months
Property Type:
Residential: 70%
Residential & Hospitality: 13%
Retail & Office: 7%
Data Centre: 9%
Office: 1%
Position in Capital Stack:
Senior Levered: 12%
Senior Loan: 2%
Senior B-Note: 62%
Mezzanine: 12%
Senior & Mezzanine Loans: 12%
MSA Concentration³:
New York City: 33%
Miami: 34%
Others: 4%
Washington D.C.: 15%
Los Angeles & New York City: 14%
Please refer to the Notes factsheet for important disclosures and further details.
(1) Net of all fees, expenses and U.S. taxes (if applicable). (2) Remaining term of the Underlying Loans (excluding extensions). (3) Metropolitan Statistical Areas. Does not include investments in Funds.