Document · NE-IR-003
Reporting cycle
Investor reporting is not ad hoc. It follows a fixed quarterly schedule for each SPV company, supplemented by the annual audited report and ad hoc notices of material events.
Section 01
Periodic reporting
- Q1
- Operating status for the past quarter, rental trends, maintenance status, and liquidity position.
- Q2
- Semiannual statement with an updated NAV indication and financing status.
- Q3
- Operating update and performance assessment against budget.
- Q4 / Annual report
- Audited annual report for each SPV company, comprehensive operating statement, and governance status.
Section 02
Report components
- Operating financial statements and variances from budget.
- NAV indication and methodology.
- Rental trends, vacancy, and tenant status.
- Financing status, LTV, and refinancing timeline.
- Liquidity reserve and maintenance plan.
- Compliance and risk status, including any material findings.
- Resolutions of the board and general meeting.
Section 03
Direct visibility into the SPV company’s online banking
Periodic reporting is complemented by an option that is unusual in the industry. Investors in an SPV company may request individual read-only access to the SPV company’s online banking. Access is strictly observational and provides real-time insight into incoming rent payments, scheduled debt payments, operating transactions, and changes in liquidity, without the ability to transact on accounts or approve payments.
Read-only access is established through the bank’s standard authorization module. It does not replace formal reporting but supplements it with a direct, unfiltered means of verification that investors may choose to use.
