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SCHILLERPROMENADE BERLIN

Residential and commercial property in Neukölln

Total investors Funding target
€ 597.500 € 1.100.000
Holding period
18
This project has been successfully repaid.
6,0% Interest p.a.
18 Months ca. Term
  • Investment type Loan
  • Interest payments Semi-annually
  • Funding threshold € 1.000.000
  • Funding target € 1.100.000
  • Funding limit € 1.100.000
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Note in accordance with section 12 (2) of the German Investment Act (Vermögensanlagengesetz):
The acquisition of this financial instrument involves considerable risks and can lead to the complete loss of the capital employed.

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Investment Overview

Fixed interest rate of 6% per annum

No fees for the investor - neither agio premium nor ongoing management fees

No additional funding obligation for investors

Growing real estate market in Berlin

Property is almost fully rented

Existing residential and commercial real estate with ongoing rental income

A property in close proximity to Tempelhofer Field

Assigned income claims *

* For the benefit of the investors subordinated security in the form of security assignment of withdrawal claims of shareholders means that the shareholders may only make limited withdrawals from the assets of the issuer prior to full repayment of the loan amount. An additional pool of assets, which could be used in case of failure of the issuer to provide additional recoverable assets, is not provided by this security assignment.


THE INVESTMENT OFFER
Type of investment Subordinated loan
Borrower Schillerpromenade 6, Herrfurthplatz 4 Grundbesitz GmbH |
Knesebeckstraße 33/34, 10623 Berlin
Loan size 1,100,000 Euro
Inteded use of loan Purchase, renovation, separation and sale of the units
Charges to investors None
Minimum investment 500 Euro
Interest rate 6.00 % p.a
Duration 18 months
Repayment At maturity
Interest payment Semi-annually
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THE PROPERTY | SCHILLERPROMENDE BERLIN
Property Existing residential and commercial real estate in Schillerpromenade 6 |
Herrfurthplatz 4, 12049 Berlin
Year of construction 1900
Site area 725 m2
Units 34 apartments and 2 commercial spaces
Total rental area 2,287 m2/
approx. 2,669 m2 with attic extension
Currency Euro
Occupancy rate 97.9% (1 vacant residential unit of 61 m2)
Annual rental income (actual value) 146,111 Euro
Total investment volume 10,524,000 Euro
Borrowed capital (banks) 6,175,000 Euro
Equity 1,849,000 Euro
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PROPERTY

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PROJECT PROFILE

  • Risk Evaluation iFunded: B

    On iFunded’s webpage, every project is evaluated based on 9 defined criteria and placed into one of 5 risk categories (A-E). SCHILLERPROMENADE BERLIN is placed in risk category B and therefore at relatively low-risk.

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  • Developer

    The issuer of SCHILLERPROMENADE BERLIN project is Schillerpromenade 6, Herrfurthplatz 4 Grundbesitz GmbH. Managing Director and sole shareholder of Schillerpromenade 6, Herrfurthplatz 4 Grundbesitz GmbH is Mr. Ioannis Moraitis, who has been building a portfolio of residential real estate in Berlin since 2011.

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  • This is how Investors money in used

    The subordinated loan is intended to finance the purchase of the property in the amount of approximately 6,500,000 Euros. In the second step, a further subordinate loan will be taken for the renovation of the building. A total cost of 10,524,000 Euro was calculated for the project.

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  • Thorough information concerning this project can be found in the Investment-Exposé

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RISKS AND REWARDS

REWARDS

RISKS
  • Fixed interest rate of 6.00% p.a.
  • No fees for the investor - neither agio premium nor ongoing management fees
  • No additional funding obligation for investors
  • Growing Berlin real estate market
  • Trustee represents the interests of the investors in the assignment of profit distribution
  • Property already has a subdivision approval prior the introduction of the protected area. It is one of the few objects with the approval for owner-occupied apartments in this micro market
  • The renovation costs may be higher due to unforeseen circumstances
  • It may be that the demand for apartment sales decreases leading to lower market prices, which would reduce the project profit
  • For the investor, there is a risk of total loss, as stated in the terms of iEstate investments. Moreover, it is conceivable that, for example, an individual borrowing of the respective investment amount or payable tax contributions causes further payment obligations. This can even lead to the insolvency of the investor
  • It is also conceivable that, for example, an individual debt financing of the respective investment income or tax contributions to be made cause further payment obligations. This may lead to the insolvency of the investor
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IFUNDED-RISK ASSESSMENT

B
  • A
  • B
  • C
  • D
  • E

For each project on iFunded the risk is determined using a standardized procedure. There are a total of nine criteria, by means of which the project risk will be assessed. Depending on the severity of the individual risk criteria, risk points will be awarded and added up at the end. Depending on the number of risk points, the real estate project is classified into one of five risk classes. The risk categories go from A to E, with A being low risk and E for higher risk. Here you can download the detailed evaluation scheme as PDF: iFunded Risk Assessment.

In total SCHILLERPROMENADE BERLIN earns 15 Risk Points and therefore achieves Risk Category B. This is how the criterias are build up:

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Risk criteria Specification Risk points
Debt ratio 58.67 % 2
Equity ratio 17.57 % 3
Macro location Berlin 0
Micro location District in Berlin Neukölln 1
Occupancy rate 97.9 % 0
Number of tenants >10 0
Development phase Existing property with little maintenance backlog 1
Issuer experience Total investment volume <50 million € 4
Securities Personal guarantee 2
2nd rank loan 2
Profit transfer claims 0
Overall 15
*Note: iFunded does not perform any kind of investment advice and does not constitute any risk evaluation for a individual investor whether the investment suits a investors personal risk profile. Risk assessments must be carried out by the investor itself and is not replaced by iFunded's risk assessment. The risk evaluation is based on standardised criteria, which are evaluated during the the structuring of the investment. The actual performance of the investment in the future can be adverse. Even with a low risk profile there is a remaining risk of a total loss of the investment for any investor.

DEVELOPER

The Issuer

Schillerpromenade 6, Herrfurthplatz 4 Grundbesitz GmbH is a Berlin-based project developer with a focus on the careful and comprehensive development of urban real estate projects - from investment through project planning to development. By focusing on existing properties in the capital, Schillerpromenade 6, Herrfurthplatz 4 Grundbesitz GmbH is well-acquainted with Berlin neighborhoods and is always up to date with regard to the market development in the metropolis. This project developer is characterized by his experience and the feeling for the right objects and recognizes the potential of a property with "Berlin charm" in interesting and ascending urban areas. Schillerpromenade 6, Herrfurthplatz 4 Grundbesitz GmbH is the borrower and the buyer of the property. It is managed by Mr. Ioannis Moraitis, who has been very successful as a project developer in Berlin since 2011.

APPLICATION OF FUNDS

The subordinated loan is intended to finance the purchase of the property in the amount of approximately 6,500,000 Euros. In the second step, a further subordinate loan will be taken for the renovation of the building. A total cost of 10,524,000 Euro was calculated for the project.

Measure/Scheme

Costs including Tax
Purchase price € 6,500,000
Acquisition costs € 562,000
Construction costs € 1,850,000
Additional construction costs € 112,000
Cost of financing € 753,000
Overhead costs € 747,000
Total costs € 10,524,000
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FINANZIERUNGSSTRUKTUR

Documents

SCHILLERPROMENADE BERLIN Expose.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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