Due
2024
Annual Coupon
5.25%
Target IRR
>15%
ISIN
ISIN XS1733829524
(Euronext Paris & Wiener Börse)
An Innovative Real Estate Company
The Bond is structured to acquire a $45 million USD (1st tranche) portfolio of real estate commercial assets in California and Arizona. The company intends to issue a second tranche for approximately $200-400 million USD and acquire additional assets in the United States, further diversifying the asset base for additional risk mitigation. The initial 90%+ occupied multi-tenant Class A office building assets are generating stabilized cash flow to service the 5.25% annual fixed coupon, and provide a target equity return of >30% at term, resulting in a net target IRR of >15%.
USD 50,000,000 Secured Reg. S Euro MTNs
Due
2024
Annual Coupon
5.25%
Target IRR
>15%
ISIN
ISIN XS1733829524
(Euronext Paris & Wiener Börse)
An Innovative Real Estate Company
The Bond is structured to acquire a $45 million USD (1st tranche) portfolio of real estate commercial assets in California and Arizona. The company intends to issue a second tranche for approximately $200-400 million USD and acquire additional assets in the United States, further diversifying the asset base for additional risk mitigation. The initial 90%+ occupied multi-tenant Class A office building assets are generating stabilized cash flow to service the 5.25% annual fixed coupon, and provide a target equity return of >30% at term, resulting in a net target IRR of >15%.
”"IN MY EXPERIENCE, IN THE REAL ESTATE BUSINESS, PAST SUCCESS STORIES ARE GENERALLY NOT APPLICABLE TO NEW SITUATIONS. WE MUST CONTINUALLY REINVENT OURSELVES, RESPONDING TO CHANGING TIMES WITH INNOVATIVE NEW BUSINESS MODELS."
AKIRA MORIPRESIDENT AND CEO, MORI TRUST
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