This reporting refers to private debt real estate investments where the investment process differs from "fixed income" investments. Empira invests in mezzanine, whole-loan and JV financing through the Luxembourg-based fund manager (a subsidiary of Empira AG). During the investment process, information about the potential project partner is collected and evaluated. On the other hand, the project (location, feasibility, initial investment, plans, etc.) is evaluated. This information is not publicly available for each financing request and is subject to exclusivity. Therefore, each individual investment must be considered separately and no centralised database is maintained.