Flint Creek and Rosemount Campgrounds

‣ First mortgage loan investments like this one are entitled to repayment of principal before the Borrower and equity investors receive repayment of principal.

‣ Investors also have priority of payment on distributions from rental income and property operations. Investors are entitled to a 9.0%* net interest payment before any distributions are made to the Borrower or equity holders.

‣ The investment represents a 64% loan-to-cost based on a total project cost of $5.9M. The Investment’s basis of $12K per site represents a 55% discount to comparable sales.

‣ The property is forecasted to provide NOI that is 1.3 times the payments owed to EquityMultiple investors in year one (1.3 debt service coverage ratio). To provide further protection for a DSCR below 1.0x, the borrower will reserve $125K in a current preferred reserve.

‣ The Investment also carries full personal recourse to a principal of the Borrower which will convert into a full pledge of equity at a later date.

‣ According to the 2022 Kampgrounds of America (KOA) report, camping accounted for 40% of all leisure travel in 2021, with 57M households making at least one camping trip.

‣ Economic conditions are pushing more of urban/city residents into camping, including 44% who plan to replace a leisure trip with a camping trip in 2022. As camping popularity increases during periods of inflation, campground properties are an inflation hedge for investors.

‣ Preliminary analysis for the upcoming 2023 season suggests availability to increase seasonal guest rates by approximately 50% – from $1,850 on average to $2,800 for the season, and for the remaining transient site rates by approximately 15-30%.

‣ The Properties are ideally located within a three-hour drive from New York, Pennsylvania, and Washington D.C, representing access to roughly 40M people.

‣ Flint Creek is located in the heart of the popular Finger Lakes region which attracts over 5M tourists annually for its multitude of state parks, hiking trails, award-winning wineries, and shoreline.

‣ Rosemount Camping Resort is located in Tamaqua, PA, in the eastern part of Schuylkill County, within the Pennsylvania Coal Region. Known for its state parks, caves and mines, Tamaqua is a popular leisure destination.

‣ Rosemount is only an hour drive from both Hersheypark, a popular family theme park, and from the Delaware Water Gap, an area that attracts millions of visitors annually.