MogulREIT I Portfolio Update: April 2020

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We are excited to announce that 4 investments in the MogulREIT I portfolio have been paid off since January 2020. These payoffs total more than $11MM of returned principal and affirm the original investment theses and strength of these investments. We will continue to be diligent and conservative when looking for new opportunities for the portfolio during these uncertain times.

As mentioned in our “MogulREIT I Update: The Impact of Covid-19 ” newsletter to investors, since inception of MogulREIT I, 14 assets have successfully been paid off representing over $36 million of investments, or approximately 55% of funds invested to date. We have maintained a 0% default rate during this time. We attribute this impressive track record to the prudent underwriting and proactive asset management of our Manager. As a result of these payoffs and our high selectivity for new deals, we have maintained a cash position on the balance sheet and will be maintaining higher cash reserves in order to weather any potential effects of a lagging rental market during this pandemic. Additionally, we will continue to reevaluate our investments so that we are prepared to take advantage of any market changes.

MogulREIT I Payoffs for 2020

Harbor Hills

Harbor Hills

On March 16, 2018, we acquired a $1,900,000 preferred equity investment related to the acquisition and redevelopment of an existing 27,080 square foot retail strip center property located at 1450 - 1460 South Harbor Boulevard in La Habra, California.

On January 31, 2020, the Harbor Hills investment was paid off in full.

Moss Street

Moss Street

On November 15, 2017, we acquired a $3,575,000 bridge loan investment from an affiliated third party in connection with the financing and renovation of a 16-unit multifamily apartment community located at 378 Moss Street, Chula Vista, California. On February 1, 2019, we increased the loan amount by $915,000 to $4,490,000 to fund an increased budget necessary to bring the project to completion.

On February 6, 2020, the Moss Street investment was paid off in full.

Riverside Office Portfolio

Riverside Office Portfolio

On October 22, 2018, we acquired a $2,500,000 mezzanine loan related to the acquisition of Riverside Office Portfolio, a portfolio of five Class A office buildings totaling 223,711 square feet in downtown Riverside, California.

On March 6, 2020, the Riverside Office Portfolio Investment was paid off in full.

Naugatuck Valley Shopping Center

Naugatuck Valley Shopping Center

On October 23, 2018, we acquired a $3,000,000 preferred equity investment related to the acquisition and stabilization of Naugatuck Valley Shopping Center in Waterbury, Connecticut.

On March 16, 2020, the Naugatuck Valley Shopping Center Investment was paid off in full.

This is not an offer to sell or the solicitation of an offer to buy any security, which only can be made through official offering documents that contain important information about risks, fees and expenses. Investing in the Company’s common shares is speculative and involves substantial risks. The “Risk Factors” section of the offering circular contains a detailed discussion of risks that should be considered before you invest. These risks include, but are not limited to, illiquidity, complete loss of invested capital, limited operating history, conflicts of interest and blind pool risk. In addition to the foregoing risks, the adverse economic effects of the COVID-19 pandemic are unknown and could materially impact this investment. Past performance is not indicative of future results. Securities offered through North Capital Private Securities, member FINRA/SIPC.

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