*Total Investment Cost: €19,000,000

Gross Operating Income EoY 7**:€8,300,000
    EBITDA EoY 7: €5,900,000

RE Portfolio Value Appreciatioin EoY 7***: €30,400,000
    EBITDA Asset Sale EoY 7: €11,400,000.00

EBITDA: Asset Sale + Operating Profit EoY 7: €17,000,000

Average Annual ROI: 13%
CAGR: 7%
IRR: 10%

Assumptions:

♦ Annual Rental Income Increase: 3%
♦ Inflation: 5%

* Foreign Exchange Reserve 20%
possibility to decrease the ROI%: €2,900,000
** The properties have an occupancy rate of 90%
*** Based on 3.25 to 5.00% Exit Yield with exit on Year 7