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SCHUBARTSTRASSE BERLIN

Residential property in Berlin-Reinickendorf

Total investors Funding target
€ 300.408 € 300.000
Holding period
18
This project has been successfully funded.
5,0% Interest p.a.
18 Months ca. Term
  • Investment type Loan
  • Interest payments At maturity
  • Funding threshold € 290.000
  • Funding target € 300.000
  • Funding limit € 330.000
  • Time until repayment 3 Days
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 5% per annum

Term of 18 months after funding end

No additional funding obligation for investors

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

Existing building in Berlin-Reinickendorf

Residential property with 7 flats

Growing real estate market in Berlin

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 Origo Berlin Invest GmbH |
Kurfürstendamm 216, 10719 Berlin
Loan size 300,000 Euro
Inteded use of loan Renovation of the property and sale of units
Charges to investors None
Minimum investment amount 500 Euro
Interest rate 5.00 % p.a
Duration 18 months
Repayment At maturity
Interest payment At maturity
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THE PROPERTY | SCHUBARTSTRASSE BERLIN

Property Existing residential real estate in Schubartstraße 45 | 13509 Berlin
Year of construction 1899
Site area 510 m2
Units 7 apartments
Planned total rental area 384 m2/
Currency Euro
Total investment volume 720,000 Euro
Borrowed capital (banks) 350,000 Euro
Equity 120,000 Euro
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PROPERTY

PROJECT HIGHLIGHTS

  • Developer

    Borrower of the project 'SCHUBARTSTRASSE BERLIN' is the Origo Berlin Invest GmbH. The managing partner of the project company, Origo Berlin Invest GmbH, is the Norwegian, Yngvar Titterud. For more than 30 years, Yngvar Titterud has held senior management positions of project developers and realized numerous Norwegian and international real estate projects.

    More about the developer
  • How investors money will be used

    Subordinated loan will be used to renovate apartments and communal areas. After the renovation, the units will be sold individually.

    More about the use of funds
  • Thorough information concerning this project can be found in the Investment-Exposé.

    See documents
  • Region: Berlin-Reinickendorf

    In the Berlin district Reinickendorf live today almost 262.000 inhabitants. The district, which was formed in 1920 from six different villages, is characterized by its diversity. Parks, allotment gardens and sophisticated residential area, lakes, bustling industry, trade, bustling life and big city flair - Reinickendorf is a colorful mix.

    In addition to schools and day-care centers the district offers many shopping opportunities such as the Borsigwerke, the old town Tegel and the Kurt-Schumacher-Platz. Typical Berlin pubs complete the conventional and attractive life in Reinickendorf. The architectural structures of the Reinickendorf district are particularly striking: the Borsigturm, Berlin's first skyscraper, which is also the landmark of the Borsigwerke, the Tegel castle with its classical architecture and the settlement "Schillerpromenade", which at the same time is a settlement of Berlin's modern age UNESCO World Heritage Site. Popular destinations include the Tegeler Lake, the Borsigwerke and the "Ur-parts" of the former Berlin Wall near the train station Schönholz.

  • District: Borsigwalde

    In 1898 the Borsigwerk was built in Tegel. At the same time, housing estates were built in the borough of Borsigwalde for about 5,000 employees. At the beginning of the 1990s, metalworking was discontinued and the former locomotive building halls were converted in 1999 into the shopping center "Hallen am Borsigturm", which is now a listed building. With its extensive educational and school offer Borsigwalde has a very good social infrastructure and is considered to be a family-friendly residential area. In addition, more than 50 percent of the Borsigwalder real estate is a listed building.

    Borsigwalde borders northwest to the district Tegel and south to the district Reinickendorf. To the east, the Nordgraben forms a geographical border to the historic center of Wittenau. Various bus lines, as well as the suburban and underground trains, form a direct connection to the center of Berlin. Tegel Airport can be reached quickly via the A111, which provides direct access to the A100 (the Berliner Ring) and the A115. Thus, the south and east of the city of Berlin can be reached quickly. In just a few minutes you can reach the beautiful green north of Berlin. The settlement Borsigwalde, which was built in the 1960s, currently has approximately 1,807 apartments in various sizes and locations. Both the closeness to the recreational areas of Tegeler Forst and Tegeler See and the excellent transport links to the motorway (access Eichborndamm, Seidelstraße or Holzhauser Straße), the subway (Seidelstraße and Scharnweberstraße underground stations) and the S-Bahn contributing to the ever-growing attractiveness of Borsigwalde Train (S-Bahn station Eichborndamm).

RISKS AND REWARDS

REWARDS

RISKS

  • Fixed interest rate of 5.00% 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
  • The cost of the renovation of the property can be higher due to unforeseen events.
  • It may be that the demand for apartment sales declines and the prices in the market can no longer be enforced, which would reduce the project profit.
  • There is a risk for the investor of a total loss in terms of iEstate-mediated investment.
  • In addition, it is conceivable that, for example, an individual debt financing of the respective investment amount or tax contributions to be made cause further payment obligations. This may lead to the insolvency of the investor.
  • Costs and duration of the division of units into condominiums are difficult to predict
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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 seven 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.

In total SCHUBARTSTRASSE BERLIN earns 14 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 45.5 % 1
Equity ratio 15.6 % 3
Macro location Berlin 0
Micro location Borsigwalde in Berlin-Reinickendorf 2
Number of tenants 7 1
Development phase Property with little maintenance 1
Issuer experience Total investment volume > 100 million € 2
Securities Personal guarantee 2
2nd rank loan 2
Profit transfer claims 0
Overall 14
*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

Borrower of the project 'SCHUBARTSTRASSE BERLIN' is the Origo Berlin Invest GmbH. The managing partner of the project company Origo Berlin Invest GmbH is Mr. Yngvar Titterud, who has been working as a project developer on the Norwegian and international real estate market for over 30 years and has been able to realize a variety of real estate projects. During this time he held various leadership roles in real estate development and real estate investment companies.

Professional highlights of Yngvar Titterud:

  • CEO and sole shareholder of Norwegian real estate investment company, Origo Holding AS.
  • CEO of real estate development company „Fagerstad Utvikling AS“ from 2001. Developments of combined residential and retail projects in Norway.
  • CEO of the real estate development company “FSØ Eiendom og Etablering AS” from 1998 until 2001. Development of the shopping center „Lambertseter Senter“ in Oslo.
  • Head of technical department and partner in the project-administration company “F Holm AS”, Høvik, Norway, from 1986 until 1998.

Examples of projects developed:

  • Paletten, Lillestrøm, Norway: 125 apartments and retail areas.
  • Hagan, Nittedal, Norway: 65 apartments and retail areas.
  • Mysen bysenter, Norway: 36 apartments and retail areas.
  • Gotaasgården Jessheim, Norway: 64 apartments and retail areas.
  • Sæter Torg, Norway: 54 apartments and retail areas.

APPLICATION OF FUNDS

With the subordinated loan with an amount 300,000 euro it is intended to finance the renovation and sale of apartments.

Measure/Scheme

Costs including Tax

Renovation of two apartments € 50,000
Renovation staircase € 30,000
Preparation garbage / outside area € 10,000
Facade: cleaning front facade and painting windows front € 5,000
Construction Support € 5,000
Marketing & Distribution € 20,000
Refinancing € 180,000
Total costs € 300,000
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FINANCIAL STRUCTURE

Documents

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