Series No. 2 Medium Term Notes Due 2026 (“Notes”)
Investment Details
The Company intends to use the proceeds from the issuance and sale of each Series of Medium-Term Notes to finance the acquisition and enhancement of its Projects, including any development, construction, repair, renovation, or rehabilitation involved, as well as to meet any capital call obligations in Joint Ventures.
The Medium-Term Notes will be direct, unsecured obligations of the Company, without guarantees from the REIT, the Advisor, or any other party.
The Company plans to use cash on the balance sheet, asset level refinance, future Note issuances and equity raises as the source of repayment.
The interest type is calculated as actual/365.
Investors will receive 1099-INT tax documents.
Liquidity
The Company may prepay all or part of any Note before its maturity. Noteholder will receive a Call Redemption Amount summing to (i) the Principal Amount of such Note as of the Call Redemption Date together with any accrued but unpaid interest as of (but excluding) the Call Redemption Date, and (ii) the Call Redemption Premium calculated with respect to such Note.
By not later than the tenth (10th) Business Day prior to the Stated Maturity Date of such Series of Notes (the “Opt-Out Deadline”), any Holder of a Series of Notes may, by written notice, require the Company to repay the Principal Amount together with accrued and unpaid interest on the maturity date of such Notes. If a holder of a Series of Notes for which the Issuer has delivered a Series Refinancing Notice does not deliver an Opt-Out Notice by the applicable Opt-Out Deadline, such holder will be deemed to have agreed to participate in the related Series Refinancing.
Fees
No fees apply.
