Eisenzahnstrasse Berlin

PUBLIC OFFER

Property in Berlin Wilmersdorf near Kurfürstendamm

5,5% interest
per year

Total investors Funding target
€ 2,904,000 € 10,000,000
Holding period
41

Eisenzahnstrasse Berlin

Information about the new real estate project

From now on, you have the possibility to subscribe to a bond (ISIN: DE000A2E4FQ5) of the issuer ‘SCP Eisenzahnstraße 11-16 GmbH & Co. KG’ within a public offer – with a minimum investment of EUR 1,000. The issuer offers a total of EUR 10,000,000 of partial debentures with an annual interest rate of 5.5% and maturity as of 31.12.2020.

Real estate location with stable housing demand

The district of Charlottenburg-Wilmersdorf is almost everywhere a good residential address.

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5,5% Interest p.a.
41 Months Repayment
  • Investment type........................................................................................................................................................................................................Bond
  • WKN / ISIN........................................................................................................................................................................................................A2E4FQ / DE000A2E4FQ5
  • Issue........................................................................................................................................................................................................ Public Offer
  • Issue volume........................................................................................................................................................................................................€ 10,000,000
  • Minimum investment........................................................................................................................................................................................................€ 1,000
  • Subscription period
    for upcoming settlement ends:
    23: 14: 22 next expected settlement after: 28.12.2017
Eisenzahnstrasse Berlin
  • 5,5% Interest p.a.
  • 41 Months Repayment
  • Semi-annually Interest payments
  • € 1,000 Minimum investment

Investment Overview

Fixed interest rate of 5.5% p.a. (Interest payments semi-annually).

Public Offer / planned gross issue proceeds of the bond EUR 10 million.

Issue of secured bearer bonds (see "Securities").

Location: Eisenzahnstraße 11-12, 14-16, Berlin Wilmersdorf, built in 1967-70, acquired in 2015.

Purchase price plus planned cost of modernisation EUR 49.6 million.

Sales value on a retail basis according to expert opinions EUR 67.06 million.

Current financing structure: EUR 35.5 million bank loans and EUR 14.1 million equity and funds equivalent to equity (shareholder loan).

After reconstruction and development of the existing property: about 281 apartments including penthouse (approx. 10,700 sqm), approx. 2,400 sqm commercial space and 111 parking spaces.


THE INVESTMENT OFFER – PUBLIC OFFER

NOTE The following table provides an overview of the key data of the bond and the issue. The securities prospectus of the issuer contains more detailed information.
Issuer SCP Eisenzahnstraße 11-16 GmbH & Co. KG, a single-purpose vehicle | Kurfürstendamm 32, 10719 Berlin
Type of financial instrument Bond (bearer bond), secured via a backup account (the "Securities"), see below Securities
Issue / Issue volume Public Offer /
Total amount of EUR 10,000,000
Term 26.07.2017 - 31.12.2020
Early repayment The issuer is entitled to make use of partial termination rights after 12 or 24 months against payment of a 1% interest rate for termination (the nominal amount of the part-terminated bonds).
Interest rate 5.5 % p.a.
WKN / ISIN A2E4FQ / DE000A2E4FQ5
Interest payment periods semi-anually, as of 31.12. and 30.06 – for the first time as of 31.12.2017
Interest calculation method 30/360
Issue price 100 % plus possible accrued interest
Denomination / Minimum investment EUR 1,000 / EUR 
1,000
Subscription period from the 14.07.2017
Paying agent Bankhaus Neelmeyer AG, Bremen
Placement agent iEstate GmbH, Berlin, as a tied agent of NFS Netfonds Financial Service GmbH, Hamburg.
Approved securites prospectus The Securities Prospectus of the issuer was approved by the Luxembourg Securities Supervisory Authority (Commission de Surveillance du Secteur Financier) on 13.07.2017 and notified to the Federal Republic of Germany and the Republic of Austria.
Real estate valuer Knight Frank Valuation & Advisory GmbH & Co. KG
Securities Pledge of a security account to a security trustee on which a certain purchase price share is to be paid from each sale of an apartment. A partial amount of the issue proceeds in the amount of the necessary funds for interest payments on 31.12.2017 and 30.06.2018 will be transferred to the security account. The issuer is only entitled to dispose of the account with the approval of the trustee.
Security trustee Taxon GmbH, Berlin branch, (www.taxon.de)
Security agreement The security trustee manages the security granted to him in the economic interests of the bondholders. The bondholders’ rights arise against the trustee and the issuer from the trust agreement (§ 328 BGB)
Stock exchange trading / Liquidity It is expected to include the bond in the Open Market of the Frankfurt Stock Exchange until the 30 November 2017.
Lender DGHYP – Deutsche Genossenschafts-Hypothekenbank AG‎‎
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PROPERTY

THE PROPERTY | EISENZAHNSTRASSE BERLIN

Property Residential property in Eisenzahnstraße 11-16 | 10709 Berlin Charlottenburg/ Wilmersdorf
Year of construction 1967-1970
Total rental area 13,120 m2
Units - Residential units: 10,689 m2 (about 281 apartments)
- thereof: 1 Penthouse: 370 m2 (one Unit)
- Commercial space: 2,431 m2 (10 Business units)
- Parking: 111 parking spaces (110 underground car park/ 1 garage)
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The Property

The real estate is an existing property on the building and open area of Eisenzahnstraße 11-12, 14-16 in Berlin. The building complex of this real estate was erected in 1970 utilising the precast concrete skeleton construction method. The property consists of three buildings with an usable area of 13,120 sqm and 111 underground parking spaces. It is divided into approximately 10,689 sqm of residential units and approximately 2,431 sqm of commercial space. The building complex has between six and nine full floors. In the course of the refurbishment and restoration measures, a former office space will be converted into a luxurious and high-quality penthouse apartment on the 8th floor. The property has a practical floor plan, standard furnishings and is in good overall condition, bearing in mind the age of the building. Since 2016, the property has been undergoing comprehensive refurbishment, with around 200 apartments being renovated. Parts of the first floor are being converted from commercial into residential units, so that the real estate, post-conversion, will feature approximately 280 residential units.

The Apartments

The apartments are to be fitted with "smart-home" solutions, e.g. with remote controls for heating and lighting, that can be controlled by a specially designed app. In addition, it is planned to develop a 370 sqm penthouse apartment. The purchasing target audience for the apartments are today's so-called mobile professionals and lifestyle performers. A lifestyle concept with a lounge, concierge service, restaurant, fitness club and small office area for startups is earmarked for the ground floor. In order to market the project, the issuer is focusing on online marketing as well as social channels and is concentrating on those who are looking for a modern lifestyle in the west of Berlin near Kursfürstendamm. According to the survey by Knight Frank Valuation & Advisory GmbH & Co. KG, the market value of the real estate following the property’s refurbishment is EUR 61.3 million. According to the same survey, the sales value of the individual apartment units is EUR 67.06 million.

The Location

The property is located in the Wilmersdorf district of Berlin, about 2 km southwest of the city center "City West", within walking distance of the Kurfürstendamm. The immediate surroundings are mainly characterized by apartment buildings. With both "Konstanzer Straße" and "Adenauerplatz" underground stations as well as a number of bus stops in the near surrounding area within walking distance, there is good access to the public transportation network.

LOCATION

ISSUER

SCP Eisenzahnstraße 11-16 GmbH & Co. KG is a single-purpose vehicle whose goal is to implement the project outlined above. The company will acquire no further properties and will not undertake any operational activities that do not directly serve the purpose of the company. The general partner is SCP VerwaltungsSektion 03 GmbH, whose managing director is Mr. Einar Skjerven. Einar Skjerven is the founder and managing director of the Skjerven Group. He has more than 20 years of experience in the field of real estate, capital markets, asset and fund management. He has established and managed several listed real estate companies.

Financial Structure

The total investment costs in the amount of EUR 49.6 million are secured in the current financing structure by the contribution of equity and funds equivalent to the equity (shareholder loan) as well as by a senior loan agreement with the financing bank and also includes the selling and marketing costs. The purpose of the issue is the partial refinancing of previously contributed equity-equivalent funds.

ACTUAL TARGET
Bank loan € 35,500,000 € 35,500,000
Bond € - € 10,000,000
Equity and equity-equivalent funds € 14,100,000 € 4,100,000
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The bank loan in the amount of EUR 19 million is to be used pro rata for the repayment of the acquisition financing. The remaining amount is to be paid out in three additional tranches according to pre-defined progression milestones in the completion of the refurbishment. The repayment of the bank loan is carried out on a pro rata basis in the course of the selling-off of residential units according to a predefined redemption formula. The loan must be repaid in full by the end of term date on 30.11.2020 at the latest. The bank is granted a first mortgage on the property to secure its claims under the loan agreement. As further securities, claims from apartment sales contracts, service contracts and rent claims are transferred to the senior loan bank.

THE PLATFORM

The platform iFunded (www.ifunded.de) is a trademark of iEstate GmbH. Under this brand, iEstate GmbH operates a real estate investment platform, targeting private and professional / institutional investors. iFunded offers investments in existing properties and property developments, which can be offered both in the form of publicly and privately offered bonds as well as in the form of privately and publicly placed subordinated loans. iFunded also handles the purchase / sale of properties and provides real estate services, such as the marketing of real estate projects on the platform. For this purpose, iFunded provides the relevant information to investors and / or buyers in virtual data rooms. iFunded is aimed at individuals who make their own decisions or asset managers / consultants with sufficient expertise.

Risk Considerations

Although the bond is secured, a total loss of the funds invested cannot be ruled out. There is a risk that insufficient funds are available to make the interest payments on the bond or to repay the repayment amount at maturity. The bond is also subject to the risk of limited solvency when the stock exchange is launched; there is a risk that no secondary market will develop for the bond, and that investors who wish to sell their shares will have limited opportunities to find a buyer for the bond. The investors are not entitled to a right to termination of the partial debentures. The risks listed here are not exhaustive. A more comprehensive risk analysis can be found in the published Securities Prospectus of the issuer, which can be accessed electronically via the real estate investment platform www.iFunded.de against and can be requested from the placement agent iEstate GmbH against the receipt of shipping costs.

Disclaimer

The fact sheet represents non-binding preliminary information which serves exclusively for promotional purposes and is not a prospectus within the meaning of the Securities Prospectus Act or a corresponding foreign law.

This fact sheet is neither an offer nor an invitation to submit an offer for the purchase of securities of SCP Eisenzahnstraße 11-16 GmbH & Co. KG nor any other company affiliated with it or the placement agent. The information in this fact sheet does not constitute investment advice. This document may not be construed as an offer or investment advice.

Interested investors should take note of the information on securities and the risks associated with the acquisition of securities in the Securities Prospectus of the issuer before making an investment decision regarding securities of SCP Eisenzahnstraße 11-16 GmbH & Co. KG. It is strongly recommended that you obtain tax and legal advice from a competent third party.

This document may not be reproduced in whole or in part, distributed or published to other persons. Neither the issuer nor, pursuant to Sections 15 et seq. AktG, any related company or their bodies assumes liability for damages or consequential damages arising from incorrect or incomplete information or calculations in this fact sheet.

Documents

Vermittlerinformationen.pdf [ Deutsch ]
Wertpapierprospekt_Eisenzahnstraße Berlin.pdf [ Deutsch ]
Fact Sheet Eisenzahnstraße.pdf [ Deutsch ]
Wertpapierprospekt Nachtrag (Nr.1) Eisenzahnstraße Berlin.pdf [ Deutsch ]

Please note that this is merely a non-binding convenience translation. If you have problems of comprehension, please seek external support.

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