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TBG Funding (“Originator”) has recently closed and funded three real estate backed bridge loans (“Portfolio or “Loans”) across four properties for an aggregate amount of $22.1M. YieldStreet is participating in $13.0M, or 59.0%, of the Portfolio and the remaining $9.1M, or 41.0%, is being held by the Originator and its investor syndicate. The Portfolio is primarily secured by a senior secured first lien or ownership interest in four underlying commercial properties (“Collateral”). Additional downside protections for the Portfolio include the assignment of property rents, collection of interest reserves and pledges of full recourse borrower personal guarantees.
The loan-to-value ratio of the Portfolio is 47.8%, which means that the aggregate amount of the Loans represents 47.8% of the diligenced valuation of the pledged Collateral. It is important to note that the Loans that make up the Portfolio are not cross-collateralized, which means that the performance of one loan does not provide additional security or benefit for the performance of the other two. For more information on this opportunity, please review the information provided in the remaining sections and download the Series Note Supplement.
Please refer the Series Note Supplement in the Resources section for more details about this offering.
Default Risk
The Borrowers may default on their financial obligations.
Foreclosure Risk
The underlying real estate assets may need to be liquidated to recover on defaulted loans.
Borrower Risk
The Borrowers may not have represented themselves accurately.
Payment schedule
Monthly
Prefunded
Yes
Maturity
February 17, 2020
Tax document
1099-INT
Offering structure
BPDN
Expenses
First year expense
$100
Annual flat expense
$30
This offering page describes only certain aspects of the offering ("Offering") of the securities issued by YS AltNotes I LLC ("Issuer"). The Offering is made only by means of the Private Placement Memorandum dated January 14, 2022 and the Series Note Supplement relating to the Offering (collectively, the "Offering Documents"). The information on this offering page is a summary of the Offering, does not purport to be complete and should not be considered a part of the Offering Documents, or as incorporated in the Offering Documents by reference or as forming the basis of the Offering. No person has been authorized to give any information or to make any representations other than those contained in the Offering Documents or in any marketing or sales literature issued by the Issuer or Yieldstreet Management, LLC, as adviser thereto, and referred to in the Offering Documents, and, if given or made, such information or representations must not be relied upon. All investors must read the Offering Documents in their entirety prior to investing in the securities.
Investing in private markets and alternatives, such as this offering, is speculative and involves a risk of loss, and those investors who cannot afford to lose their entire investment should not invest. Returns are not guaranteed.