YUST Liege

 Development loan
Project listed: 22.06.2020
Liege,
Belgium
7.5%
Annual yield
Term: 24 months
Interest payment schedule:
Annually
Interest payments
25.07.2022
Pending

Project updates

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July 24, 2020

Dear investors,

We refer to the Information Note of June 12, 2020 relating to the public offer of Bonds by Yust Group SA in which you have subscribed a certain number of bonds.
The Information Note provides that the Offer and the issue of the Bonds are subject to the condition precedent of the granting by Belfius Bank SA of a bank guarantee in favor of Gands SA in the amount of € 9.85 million. (updated to € 9.875m) to guarantee payment of the balance of the purchase price of the Project by PropCo (the “Condition”).
We have been informed by Yust Group that the implementation of the guarantee and the various elements requested by Belfius Bank in this context take longer than expected, which delays the operation (the purchase of the Project by PropCo being thus delayed. around September 18, 2020). Consequently, at the request of Yust Group, the period (and deadline) provided for the fulfillment of the Condition (initially 30 days from the closing of the Offer) is extended until September 30, 2020.
This delay, which postpones the issue of the bonds and the delivery of the bond certificates, will not have any consequence in terms of the yield on the bonds when the Condition is fulfilled because the interest will start to run anyway from June 23, 2020. In addition, in the meantime, the funds subscribed are blocked and secured in a notarized account and not made available to Yust Group, as required by BeeBonds and provided for in the Information Note.
Here is the link to the supplement to the Information Note of June 12, 2020 explaining this change, its impact and certain developments in relation to the Project, in accordance with the applicable regulations. The publication of this supplement entails a right of revocation in your favor which can be exercised at the latest on July 24, 2020 at 11:59 p.m., as explained in the supplement.

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EvoEstate description

Introducing the first project from BeeBonds.

This project is fundraising up to 5M EUR, while minimum amount for this project is set at 1M EUR. This particular project is analysed, structured and monitored by Deloitte Private.

Descripton

Participate in the development of the innovative real estate project YUST, integrated in an eco-district Paradis Express, located in the heart of Liege, offering a unique housing formula with integrated services.

Enterprise:Group YUST

Beginning of the activity:2016

Activity:Real Estate

The YUST "Young Urban Style" concept, initiated in 2016 by the YUST Group in Antwerp, offers an innovative and unique approach to housing with integrated services. More than a housing offer, YUST offers a lifestyle combining various contemporary concepts in one place. Long-stay apartments, short-stay rooms, dormitories, 'Healthy' restaurant, bar, connected services (carpooling, electric bikes, mobile application, ...), common areas for residents, organisation of numerous artistic and cultural events on site. A model designed to offer a great flexibility of life, focused on sharing and meeting. The group's ambition is to eventually cover an area of approximately 260 kms around Antwerp. This will allow the development of sites in Belgium (Antwerp, 2 residences in Brussels, Liège and Ghent) but also in Luxembourg, the Netherlands, western Germany and northern France.

You can check the video presentation here and here.

BENEFITS OF THE PROJECT

+ Participation in an innovative and unique real estate projectMore than a home, YUST offers a way of life. A unique concept of housing with integrated services focused on sharing and meeting. Living where you want, for as long as you want, with a level of services adapted to the needs of each client. YUST offers long-stay apartments, short-stay rooms or dormitories. Numerous artistic and cultural events are organized on YUST premises and a series of impressive ancillary services are combined with a """"Healthy"""" restaurant but also with quieter spaces (green wall, fireplace, exclusive space for residents, etc.). The model is designed to allow the greatest flexibility, adapted to the life choices of each client

+ Expected profitabilityThe Issuer proposes a bond exercise at 7.5% gross annual interest for a period of two years. Despite the current crisis, YUST can count on its strong differentiating features compared to the traditional hotel industry to assert its strategic positioning. This explains the excellent occupancy rate of YUST Antwerp despite the current context. The repayment of the subordinated loans is comfortably foreseen by the mobilisation of additional capital in the framework of the setting up of an investment fund and the profitability of YUST's current operations.

+ LocationYUST projects are positioned in emerging neighbourhoods of dynamic cities of at least 200,000 inhabitants. YUST Liège benefits from an excellent location, on the esplanade of the TGV train station allowing easy access to mobility solutions. Close to the Guillemins station, in the heart of Liege, integrated in the Paradis Express Project, an eco-neighbourhood comprising 5 buildings combining housing, offices and local shops. A stone's throw from the E40 and E25 motorway exits.

+ The YUST group, a vision, a strategyYUST is a large and dynamic company, active in alternative hosting solutions since 2016. Due to the success of the Antwerp project and the rapidly changing residential market with its focus on flexibility and service offerings, YUST is implementing a strategy to further roll out the concept in Belgium and Europe. After the second site in Liege (Paradis Express), the sites in Brussels and Ghent will probably follow, as well as a European roll-out. Preparatory work is underway for expansion in the Netherlands, Luxembourg, Northern France and Germany.

+ Deloitte Private's analysisThe project is analysed, structured and monitored by Deloitte Private with the utmost rigour. This quality of analysis, usually reserved for institutional investors or club deals, will be guaranteed and delivered with the same care to the investors brought in by BeeBonds, Deloitte Private's partner for the financing of this project.

+ Financing and RefundThe YUST Group aims to set up a fund (YUSLI Fund). When this fund is set up, the BeeBonds loan would be repaid with the funds brought in by the new investors (Limited Partners). If the YUST Fund is not constituted at the end of the Beebonds loan, the YUST Group will repay the debt simply by increasing the capital of existing shareholders or by selling the assets to an industrial or private investor, to individuals or to an institutional investor. In addition, as a back-up scenario, it is still possible - but not foreseen - to resell and lease YUST Liège in order to free up funds. Finally, the non-joint and severable (50-50) guarantee of the shareholders of YUST Group NV (TheClubDeal SA and Stélina Invest BV) is committed.

QUESTIONS

+ Who makes up the Board of Directors?

Stéphane Verbeeck: Founder of the YUST project and owner of Stélina Invest BV, former CEO and founder of Ghent, one of the 10 largest Belgian real estate developers, development and sale of a cleaning company with 5,000 employees (ONE), recently elected president of UPSI-BVS (Professional Union of the Real Estate Sector). Willem van der Zee (independent consultant): Managing Director of Radisson Blu EU Hotel (2010-2012), Vice President of Radisson Blu EU Central Zone (2012-2015), Managing Director of Lapithus Hotel Management GmBH on behalf of Apollo Global Management (2015-2017), Managing Director of Event Hotels (present). Jean-Louis Dubrule: General Secretary of the Accor Group Executive Committee (2007), Chief Financial Officer of the Accor Group (2008-2009), former co-chairman and co-owner of The Crew Communication (2013-2020), executive partner of TheClubDeal SA (present). Louis Claes: Managing Director YUST Antwerp, developed the YUST concept from the start together with Stéphane Verbeeck. Jean-Marc Legrand: Founder and managing director TheClubDeal NV, experienced senior executive in the banking sector, member of the board of directors of several companies in different sectors.

+ Why this fund-raising?

The fund-raising comes in addition to a bank loan of €9,150,000 granted by the BELFIUS bank and concerns the acquisition of land from YUST Liège pending the constitution of the investment fund.

Project originated by:

Documentation

7.5%
Annual yield
Term: 24 months
Interest payment schedule:
Annually
Interest payments
25.07.2022
Pending
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