MIAMI Wynwood 9

MIAMI Wynwood 9, was the very first ever campaign hosted on a European crowdfunding platform, which raised capital to build a real estate project outside Europe. In addition to this already considerable record, it was also the biggest crowdfunding real estate campaign ever made in Italy As we will describe further on, the project involved the redevelopment of an entire area, a very important one, Wynwod, and the company that is implementing the initiative is an all-Italian company that for years has been one of the reference player for the international market. We therefore believe that MIAMI Wynwood 9 represents the best of Italianness in the world. ____________________________________________________________________________________ [ANALYTIC DESCRIPTION OF THE INITIATIVE] The company Bel Invest Wynwood 9 Inc. is the owner of a plot of land located in Miami at 2721 NW 1st Avenue. The acquisition of the adjacent lot located at 92 NW 28th Street for a total area of 1,050 Sq m is on track. The land acquisition at 2721 NW 1st Avenue was completed on October 30, 2017, while the closing for the acquisition at 92 NW 28th is expected by August 2018. The real estate development project involves the construction of a new mixed residential/commercial building with a gross surface area of 6,895 square meters in addition to underground parking spaces and a panoramic terrace with a swimming pool. 4 commercial units will be built for a total gross area of 724 square meters and 38 residential units for a total gross area of 6,172 square meters. The building will be developed on 8 floors in addition to the basement and will be divided as follows. In the basement a car park will be built, on the ground floor areas for shops/retail, on the mezzanine floor as well as shops, also residential portions. From the 2nd floor to the 8th floor, residential. On the top floor, there is a terrace for shared use with a swimming pool. The architectural firm appointed to design the building is the Zyscovich studio, one of the most important studios in Miami, which has more than 100 employees including architects, interior designers and designers. The law firm that will follow the entire authorization and zoning phase is Akerman. Akerman is a company with more than 700 lawyers recognized by the Financial Times as one of the industry's most established law firms, ranked among the top 100 US law firms with over 24 locations worldwide. The real estate project will be divided into 4 phases of development. The phase of land acquisition, partially completed; the planning and authorization phase, the pre-sales phase as well as the construction phase. ____________________________________________________________________________________ ____________________________________________________________________________________ The MIAMI Wynwood 9 operation has been developed in Florida (USA) in the Wynwood Art District. According to the project, it includes the demolition of existing buildings and the elevation of a new construction on a plot of land that is approximately 1,050 Sq m. Here, an above-ground 8-storey building will be realized. It will have 4 commercial units on the ground floor and 38 residential units distributed throughout the remaining 7 floors. This operation will be developed by Bel Invest Wynwood 9 Inc. in Miami, covering a total area of approximately 1,050 Sq m. Wynwood 9 Italia Srl is an Italian company that acts as a shareholder of Bel Invest Wynwood 9 Inc. for collecting capital online within the real estate operation of this investment offer. This is aimed at providing Wynwood 9 Italia Srl with the financial basis for supporting Bel Invest Wynwood 9 Inc. to implement the real estate project shown here. The operation's Business Plan is available in the "Documents" Area of this project. The document shows the expected and estimated result of the operation as a gross ROI of 44.13% in 36 months, as well as the overall annual forecast gross return of 14.71%. Wynwood 9 Italia Srl is the SPV established to accommodate new online investors in this real estate operation. It is owned 100% by Bel Invest Italia Srl at the beginning of the capital collection. Wynwood 9 Italia Srl participates in this Miami real estate operation as a shareholder investing $1,426,000 as an interest-bearing loan to Bel Invest Wynwood 9 Inc. These funds are collected through Walliance and are due to partially support the development of this operation. The main goal is to guarantee a positive cashflow until the sale of the units is fulfilled with the deed. Bel Invest Wynwood 9 Inc. will acknowledge the profit due to Wynwood 9 Italia Srl, amounting to 25.1% based on the actual final result of the real estate operation. Subscribing 25.1% qualified stake in Bel Invest Wynwood 9 Inc. provides a 5% reduced withholding tax on the dividends paid by the latter to Wynwood 9 Italia Srl. This deduction corresponds to a tax credit that will be sufficient to offset the taxation of Wynwood 9 Italia Srl. The majority shareholder of Bel Invest Wynwood 9 Inc. is Berlino Srl, a company controlled by Maximilian Beltrame. The latter company also contributes to the operation by bringing equity in the amount of $3,33 million, while other minority investors brought an additional $921,604. The company will raise additional financial resources through a bank debt of $6,922,166 to cope with construction costs. Gross profit on the transaction is expected to be $4,325,041. Therefore, the net profit generated by Wynwood 9 Italia is estimated at $780,232 or at €678,462 (at the exchange rate €/$ 1.00EUR = 1.15USD). Construction costs have already been determined as a whole. The investment of Wynwood 9 Italia Srl is insured against euro/dollar exchange rate risk. The company will purchase a put option that will cover the risk of EUR/USD currency fluctuations if it exceeds the 1.30 level. The crowdfunders will receive 80% of the profit generated by Wynwood 9 Italia Srl, in addition to the capital invested according to the statutory provisions. As ruled by the Business Plan, the Investor Shareholders will be provided with company shares of only property rights, excluding administration rights. The purpose of the operation or investment is to remunerate these shareholders with a conservatively (worst case) estimated gross yield of €542,770 equal to an annualized ROI of 14.71% (with a total downwards estimated gross ROI of 44.13% in 3 years). At the end of the real estate operation, once the sale of all the real estate units is performed, the remaining shareholders are expected to be liquidated by distributing the initial capital plus revenue resulting from the operation.

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