RISK_ARCHITECTURE · DOWNSIDE_TRANSPARENCY · SS069 · VERIFIED_FLOOR

What happens if
this does not work?

Most sponsors lead with the return. We lead with the question every institutional investor is actually asking. The answer, backed by 36 months of verified performance, a $12.0M MAI appraisal, and a CPA-reviewed $790K NOI floor: even in our worst-case stress scenario, this asset covers its debt service, returns positive IRR, and does not impair capital.

THE_STRESS_SCENARIO_ANSWER · VERIFIED_NOT_PROJECTED

At 60% SS occupancy, 9.0% cap rate, and 36-month DC delay simultaneously — the asset still returns 12.8% IRR and maintains 1.44× DSCR. The floor is real.

DOWNSIDE_METRICS · SS069 · VERIFIED

Four Layers of Protection

SS_NOI_FLOOR

SS NOI floor — CPA reviewed

$790,216

DSCR_PREDC

DSCR before DC revenue

1.44×

MAI_APPRAISAL

Independent appraisal — Newmark

$12.0M

LTV

LTV — vs 70% institutional threshold

~40%

STRESS_IRR

Stress scenario IRR — still positive

12.8%

PROFITABLE_MOS

Consecutive profitable months

36+

SS_FLOOR_VALUE

SS standalone exit floor value

$8–10M

FLOOR_IS_VERIFIED · NOT_PROJECTED · 36_MONTHS

CONCENTRIC_PROTECTION · FOUR_LAYERS · INNER_TO_OUTER

Four rings of downside protection. Every ring verified.

The inner ring provides the highest certainty — it is not contingent on any future event. Each outer ring adds incremental protection and upside. The structure is designed so that even if all outer rings fail simultaneously, the inner ring holds.

1

HIGHEST

Self-Storage NOI Floor

$790K verified NOI · 1.44× DSCR · Util-101 electrically isolated

VERIFIED · CPA & LENDER

2

VERIFIED

18-Building Campus Value

$12.0M MAI appraisal · 283,439 SF collateral · ~40% LTV floor

VERIFIED · CPA & LENDER

3

PROJECTED

Data Center Revenue Upside

$585K NOI at 50% utilization · Phase 1 target 3–6 MW

MODELED · NOT CONTINGENT ON INNER RING

4

STRUCTURAL

$61B Corridor Exit Pool

Institutional buyer pool · Microsoft corridor anchor · Multiple paths

MODELED · NOT CONTINGENT ON INNER RING

LIVE_STRESS_TEST · INTERACTIVE_MODEL · MOVE_THE_SLIDERS

Break this deal yourself. Watch the floor hold.

Move all three sliders to their most adverse positions simultaneously. The NOI floor is locked at the self-storage baseline. It does not move regardless of slider position — because the SS revenue stream is structurally isolated from all DC conversion activity.

SS_OCCUPANCY

80%

55% WORST

85% BASE

SS NOI at 80%: $790,216 · Debt coverage: COVERED

EXIT_CAP_RATE

6.5%

5.5% BEST

10.0% WORST

At 6.5% cap: exit value $20.2M · vs. cost basis $7.9M

DC_LEASE_UP_MONTHS

12 mo

6 MO BEST

42 MO WORST

DC revenue begins month 12 · SS carries full debt service until then

PROJECTED_IRR · 5_YEAR_HOLD

24.5

%

BASE_CASE_SCENARIO

DSCR · DEBT_SERVICE_COVERAGE

1.44×

MIN_THRESHOLD: 1.25×  ·  FLOOR: 1.44×

NOI_FLOOR · STRUCTURALLY_LOCKED

$790,216

CPA-reviewed · Lender-validated · 36mo verified

Covers debt service

1.44× DSCR

This floor does not move regardless of slider position. SS Util-101 is electrically isolated from all DC construction activity.

CURRENT_SCENARIO_OUTPUTS

SS_NOI

$790,216

DC_NOI

$364,000

TOTAL_NOI

$1,154,216

EXIT_VALUE

$20.2M

SCENARIO_STACK · FOUR_CASES · ALL_OUTCOMES_MODELED

Every scenario. Stress tested. The floor holds in all of them.

Select any scenario to see the full modeled output. Note that even the Stress scenario — multiple simultaneous adverse conditions — shows positive DSCR and positive IRR, because the NOI floor is verified, not projected.

PROJECTED_IRR

24.5%

DSCR_COVERAGE

2.5×

ANNUAL_NOI

$1310K

SS_OCCUPANCY

80%

EXIT_CAP_RATE

6.5%

DC_LEASE_UP

12 mo

No pre-lease. Operator signs at Phase 1 completion. Market cap rate. 3–6 MW Phase 1 target.

RISK_ARCHITECTURE · THREE_LAYERS · SELECT_TO_EXPAND · HOVER_FOR_EVIDENCE

Market risk. Asset risk. Capital structure risk. All three mapped.

Expand any layer to see the specific risk factors within it, the mitigation in place, and the verified evidence behind each claim. Hover any factor to see the evidence source.

RISK_SCORES · TRADITIONAL_VS_TIER3 · MOAT_FRAMEWORK

Every risk category. Tier 3 architecture outperforms traditional structure.

The Tier 3 isolation architecture — which electrically separates the self-storage income stream from all data center construction activity — improves every risk score by 26–50 points against the traditional structure.

RISK_CATEGORY

TRADITIONAL

TIER_3

IMPROVEMENT

Overall Risk Profile

69/100

95/100

+26 pts

CIAC / Utility Risk

35/100

85/100

+50 pts

Construction Schedule

45/100

88/100

+43 pts

Vendor Concentration

55/100

90/100

+35 pts

Weather / Force Maj.

65/100

98/100

+33 pts

Debt Coverage (DSCR)

1.0–1.1×

1.44×+

44% above min

TIER_3_ISOLATION · ELECTRICAL_ARCHITECTURE · BEFORE_AND_AFTER

The structural change that created the floor.

The self-storage NOI floor is not simply a claim about existing revenue. It is the product of a deliberate electrical isolation architecture — Tier 3 — that structurally separates the income-producing asset from all conversion risk.

BEFORE · LEGACY_ARCHITECTURE

Customer-owned substation (circa 1947)

Self-storage power shared with DC conversion

Owner bears all high-voltage liability

Single 5 MVA transformer — single point of failure

AFTER · TIER_3_ARCHITECTURE

Decommissioned legacy substation — liability eliminated

SS Util-101 electrically isolated — DC cannot touch SS revenue

WE Energies owns HV infrastructure — liability transferred to utility

3 × 1,000 KVA modular transformers (Util-101/102/103) — N-1 redundancy

INVESTOR_OBJECTIONS · FIVE_QUESTIONS · DATA-BACKED_ANSWERS

The five questions institutional investors ask. Answered with data.

These are not the questions we wish investors would ask. These are the actual objections that surface in every institutional due diligence call. We have answered each one in advance — with sourced evidence, not reassurance.

MOAT_RISK_SCORE · SS069 · 441_UNIT_FRAMEWORK · PILLAR_06

The methodology scored this asset at 33/35 on Risk Architecture before a dollar was deployed.

The risk architecture you are reading is not post-acquisition rationalization. It is the same framework that scored SS069 at #1 of 1,676 properties screened before acquisition. The risk was underwritten before capital was committed.

RISK_ARCHITECTURE_PILLAR · SS069

0

/ 35

#1 OF 1,676RISK_PILLAR_06441_UNIT_MOAT

Score produced by the 441-unit MOAT framework applied pre-acquisition. Risk architecture was underwritten, not discovered.

Environmental Status

0 / 6

Workforce Availability

0 / 5

Supply Chain Access

0 / 6

Insurance Adequacy

0 / 6

Corridor Competition Density

0 / 6

Market Exit Liquidity

0 / 6

RISK_REVIEWED · FLOOR_VERIFIED · NEXT_STEP

You have seen the downside.
Now review the full opportunity.

The SS069 asset is reviewed, stress-tested, and documented. The investor briefing provides the complete picture — asset, methodology, return projections, and capital structure — in a single package.

Request Investor BriefingApply Now

Stewardship over speculation. People over profits. Christ at the center.

All financial projections are estimates and forward-looking statements subject to material risks and uncertainties. The self-storage NOI of $790,216 is CPA-reviewed and lender-validated as of the most recent fiscal period but does not guarantee future performance. The MAI-certified appraisal of $12.0M was conducted by Newmark in January 2025. IRR projections including the stress scenario are modeled estimates and not guarantees of return. Stress test calculator outputs are illustrative and based on simplifying assumptions. Past performance does not predict future results. This page does not constitute an offer to sell or solicitation to purchase any security. All investment involves risk. Accredited investors only. SEC Rule 506(c).

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