
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. Private Lenders (SEC-registered RIAs)
• Middle-market real estate (loan sizes $10-$200M)
• 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%(*)
• Trade 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
• Maximum Maturity: 31 December 2029
• Minimum investment:
• US$125,000 (Institutional Note)
• US$10,000 (Investor Note)
• ISIN Institutional Note: XS2705065006
• ISIN Investor Note: XS2705065261
(*) Target Net Returns for the Institutional Note
LOANS PORTFOLIO UPDATE: 31 July 2024
July 2024 net return for investors¹:
Institutional Note: +0.83%
Investor Note: +0.79%
Loan-to-Value (LTV) WAVG: 56%
Total Loan Porsitions: 38
Remaining term WAVG²: 14 months
Property Type:
Residential: 84%
Hospitality: 5%
Office: 10%
Position in Capital Stack:
Senior Levered: 27%
Senior Loan: 26%
Senior B-Note: 10%
Preferred Equity: 10%
Mezzanine: 26%
Regions:
Northeast: 40%
South: 14%
West: 40%
Midwest: 6%
Please refer to the Note 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).