ACCRETIVPLUS TI NOTE LIMITED
ISIN No.: SC4188IEFC6027
Ticker Code: ACCBond1
AccretivPLUS (ACCPLUS) is raising these notes exclusively for the improvement of the underlying real estate of the Company, to advance its goal of growing the value of its portfolio of healthcare buildings.The portfolio consists of 24 buildings, valued at over $200 million, spanning nine states in some of the fastest-growing cities and counties across the U.S. It is fully leased to over 100 healthcare providers, with an occupancy rate of 93% and an average lease term exceeding 5 years. Combined distributions now are more than $1m per quarter and growing as illustrated in the graph on the right-hand side of your screen.
AccretivPLUS underlying buildings have senior debt in the capital stack sourced mostly from traditional banks. Most of these loans enjoy exceptionally low rates of interest because of the time that the rate was fixed on acquisition of the building.
It would make sense to raise additional debt from these institutions for purposes of installing new tenants, extending existing tenants or undergoing renovation or improvement of the buildings. This would result in the full loan undergoing a restructure aligning with current interest rates. In some instances, this would result in an increase in the interest on the senior debt from 3% to 7%.
AccretivPLUS is raising these notes exclusively for the improvement of the underlying real estate of the Company, to advance its goal of growing the value of its portfolio of healthcare buildings.
How It Works
Notes will be issued on the 1st of each month, provided that funds are received before the 20th of the preceding month. The simple interest of 9% per annum will accrue monthly but be capitalised annually. There is a 1-year lock-in period. The full value of the capital and accrued interest can be withdrawn anytime thereafter with 90 days' notice.
Security & Collateral
The AccretivPLUS TI Note is backed by a portfolio of medical commercial real estate exceeding $200 million in value with over $80 million invested equity, providing investors with structured risk-adjusted returns in a resilient asset class.
Highlights
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