Investment Thesis · SS069 · CLARITY-02506(c) · Accredited Investors

24.5% Base IRR.
287% appreciation before construction.

Six stress-test scenarios. 12.8% IRR even when delay, dropout, and cost overrun fire simultaneously. Every number sourced to a named third party. Select any scenario below to model the outcome.

STRESS_FLOOR · COMBINED WORST CASE

Delay + dropout + CapEx overrun firing simultaneously: 12.8% IRR · 1.8× MOIC. Self-storage NOI ($790K) services all debt independently at every scenario.

SS069 · FINANCIAL MODEL · CLARITY-02
BASE: 24.5% IRR

BASE_IRR

◇ PROJ

24.5%

Base Case IRR

7-year hold

BASE_MOIC

◇ PROJ

3.2×

Base MOIC

Investor capital

UPSIDE_IRR

◇ PROJ

31.4%

Upside IRR

RTMP activated

STRESS_FLOOR

◇ PROJ

12.8%

Combined Stress Floor

Worst case

NOI_FLOOR

✓ VER

$790K

Annual NOI Floor

CPA reviewed

DSCR_PRE_DC

✓ VER

1.44×

DSCR Pre-DC

Lender validated

◇ PROJECTED · all IRR/MOIC figures are projections, not guarantees.
✓ VERIFIED · NOI and DSCR pre-DC are independently confirmed.

BASE_IRR

24.5%

◇ PROJ

Base Case IRR

7-yr hold

BASE_MOIC

3.2×

◇ PROJ

Base MOIC

Investor capital

APPRECIATION

287%

Appreciation

Before construction

NOI_FLOOR

$790K

Annual NOI

CPA reviewed ✓

DSCR_Y1

2.50×

◇ PROJ

DSCR Year 1

◇ Projected

MAI_APPRAISAL

$12.0M

MAI Appraisal

Newmark · Jan 2025 ✓

IRR_SCENARIO_MODELER · SIX_SCENARIOS · SELECT TO EXPLORE

We model the downside first.

Select any scenario to see its IRR, MOIC, and the exact assumptions behind it. Every assumption is disclosed. The combined stress floor (12.8%) reflects all adverse conditions firing simultaneously.

Upside Case

31.4%

4.1× MOIC

◈ PRIMARY SCENARIO

Base Case

24.5%

3.2× MOIC

3-Month Delay

19.8%

2.8× MOIC

CapEx Overrun

18.1%

2.6× MOIC

Tenant Dropout

16.2%

2.4× MOIC

Combined Stress

12.8%

1.8× MOIC

BASE · 24.5% IRR · 3.2× MOIC

50% occupancy Year 1 · 85% Year 2+ · 7-year hold period. Conservative mid-market assumptions. Primary underwriting scenario.

IRR

24.5%

MOIC

3.2×

vs. BASE

+0.0pp

IRR % · MOIC → · Selected: Base Case

0%10%20%30%Upside Case31.4%4.1×Base Case24.5%3.2×3-Month Delay19.8%2.8×CapEx Overrun18.1%2.6×Tenant Dropout16.2%2.4×Combined Stress12.8%1.8×MOICIRR →

STRESS_FLOOR · COMBINED WORST CASE · TIER 3 PATH

12.8% IRR · 1.8× MOIC with all three adverse conditions simultaneously. Self-storage NOI ($790K/yr) services all debt independently regardless of DC outcome.

◇ All IRR and MOIC figures are projections. Not guarantees of future performance.

CAPEX_BREAKDOWN · PHASE 1 · $4,837,840 FULLY ITEMIZED

$4,837,840 fully itemized. No black-box CapEx.

Every line item sourced to vendor quotes, contractor estimates, and WE Energies Form 4158 scope. Hover any bar for overrun exposure. 5% contingency reserved and itemized.

0$300K$600K$900K$1200K10.1%CIVIL23.2%ELECTRI18.4%MECHANI13.1%STRUCTU15.4%IT_INFR6.4%SECURIT6.2%COMMISS7.2%CONTING
Low overrun risk
Monitor / Contingency

Total Phase 1 CapEx

$4,837,840

Contingency Reserve

$347,840 (5%)

Highest Single Line

Electrical $1.12M

Overrun Coverage

~48% of 15% scenario

DEPLOYMENT_PATHS · TWO ROUTES · ONE PLATFORM

Two paths. Both bypass the utility queue.

Tier 3 permanent construction and Modular Data Center deployment. The modular path compresses timeline by 46% and improves IRR dramatically. Toggle to compare every metric.

BASE IRR24.5%

METRIC

TIER 3

MODULAR

ADV

Total CapEx

Factory-built units eliminate most on-site fabrication

$4,837,840

$3,619,000

−25%

Timeline to Revenue

Modular deployment compresses construction phase

13 months

7 months

−46%

IRR

Dramatic IRR improvement from faster revenue start

24.5%

62–74%

+37–49 pp

MOIC

Compounding advantage of 6-month earlier revenue

3.2×

5.2–5.5×

+2.0–2.3×

Construction Risk

Modules arrive tested — no on-site commissioning risk

Standard on-site

FAT-tested, factory-built

De-risked

Utility Queue

Both paths use existing WE Energies infrastructure

Bypassed (Shadow Power)

Bypassed (Shadow Power)

No queue

RETURN_MODELER · TRACK A OR B · LIVE COMPUTATION

Two return paths. One platform. You choose the structure.

Enter your investment amount and select a track. Track A distributes quarterly income. Track B compounds to a lump-sum at term. Self-storage NOI floor supports both structures independently.

INVESTMENT AMOUNT

$100,000

$25K min$500K

TRACK A · CASH FLOW

Quarterly distribution

$3,000

Annual income

$12K/yr

Total return (3 yr)

$36K

TRACK B · GROWTH

End-of-term return

$15K

Total value at term

$115K

Term

3 years · Refinance or exit

Track A at $100,000: $3,000 quarterly · $12K/yr · $36K total over 3 years. NOI-backed — no DC execution required.

Illustrative projections only. Not guarantees. Consult your advisors before investing.

PAYMENT_SCHEDULE · 12 QUARTERLY DISTRIBUTIONS · $3,000 EACH

Yr 1Yr 2Yr 3$3,000Q1Q2Q3$3,000Q4Q5Q6$3,000Q7Q8Q9$3,000Q10Q11$3,000Q12

DOWNSIDE_PROTECTION · SIX LAYERS · CLICK TO EXPAND

Six layers of documented downside protection.

This investment does not depend on DC execution to service its debt. The self-storage operation at $790K NOI covers all debt at 1.44× DSCR with no DC revenue counted. Solid bars are certified or documented. Hatched bars are estimated projections.

KEY INSIGHT: The MAI-appraised value ($12.0M) exceeds the total Phase 1 cost basis ($7.94M) by $4.06M — before a single colocation dollar is earned. The upside is additive to a verified floor.

$0M$5M$10M$15M$20M$25M$30M$34M
✓ CPA VERIFIED

SS NOI Floor

$790K/yr

1.44× DSCR · Fully independent of DC revenue · Covers all debt service alone

VERIFIER:Licensed CPA
◇ ESTIMATED

Self-Storage Floor Value

$8–10M

Standalone SS asset value if DC component never executes — no DC premium assumed

VERIFIER:Internal analysis
✓ DOCUMENTED

Phase 1 Total Cost Basis

$7.94M

$3.1M acquisition + $4.84M Phase 1 CapEx · Fully itemized, vendor-sourced

VERIFIER:Property records
✓ MAI CERTIFIED

MAI Appraised Value

$12.0M

287% appreciation from $3.1M · Pre-construction verified · Independent third party

VERIFIER:Newmark · Jan 2025
◇ PROJECTED

Post-Stab. Conservative

$20M

Phase 1 only · 75% DC utilization · Base-case cap rate applied

VERIFIER:Financial model
◇ PROJECTED

Post-Stab. Upside

$34M

Phase 1–3 · Corridor premium · 85% DC utilization · Not a certified appraisal

VERIFIER:Financial model
✓ Independently certified or documented
◇ Internal estimate / financial model

INSTITUTIONAL_UNDERWRITING · ALL METRICS · BEFORE DC DOLLAR ONE

Every metric passes institutional thresholds — before a single DC dollar is counted.

Metrics marked ◇ PROJECTED depend on DC execution. All others are independently verified. The SS NOI floor alone satisfies institutional coverage requirements.

METRIC

VALUE

BENCHMARK

STATUS

Loan-to-Value (LTV)

~40%

< 70% institutional threshold

STRONG

Loan-to-Cost (LTC)

~65%

< 75% institutional threshold

STRONG

Debt Yield (Year 1)

23–34%

> 8–10% required

TOP QUARTILE

DSCR Year 1

◇ PROJECTED

2.50×

> 1.25× minimum · PROJECTED

PASS

DSCR Stabilized

◇ PROJECTED

3.33–3.74×

> 1.25× minimum · PROJECTED

EXCELLENT

SS NOI Floor Coverage

144%

Structural advantage · VERIFIED

INSTITUTIONAL

FOR ACCREDITED INVESTORS · SS069 · CLARITY-02

Ready to review the full investment case?

Full CLARITY-02 memorandum, Newmark MAI appraisal, CPA-reviewed financials, and lender DSCR validation available to accredited investors. NDA executed before document transfer. 48-hour response.

24.5%

Base IRR

◇ Projected

$12.0M

MAI Certified

✓ Newmark

1.44×

DSCR Pre-DC

✓ Lender val.

$790K

Annual NOI

✓ CPA review

Cash Flow Track — 12% Quarterly Growth Track — 15% End of Term

Participation available exclusively to verified accredited investors under SEC Rule 501(a). All IRR and MOIC projections are estimates and do not guarantee future performance. Consult your legal, tax, and financial advisors before making any investment decision.

All IRR, MOIC, and return projections on this page are financial model estimates based on disclosed assumptions and do not constitute guarantees of future performance. The $12.0M appraised value is an MAI-certified point-in-time valuation by Newmark (January 2025) and does not guarantee future value. The $790,216 NOI and 1.44× DSCR pre-DC are CPA-reviewed actuals and lender-validated respectively. The 2.50× Year 1 DSCR and 3.33–3.74× stabilized DSCR are financial model projections dependent on colocation deployment milestones that have not yet been achieved. No signed colocation LOIs exist as of March 2026. The ~$15.0M corridor-adjusted and $20–$34M post-stabilization values are internal estimates and have not been independently appraised. CapEx figures represent budget estimates sourced to vendor quotes and contractor bids; actual costs may vary. Track A (12% annual) and Track B (15% ROI) are target return structures and are not guaranteed. This page does not constitute an offer to sell or solicitation to buy any securities. Available to verified accredited investors only under SEC Rule 506(c).

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