Loan

Loan #1099463 Neumünster, 24539, Germany

Property location
Haart 113 Neumünster 24539 Germany

Executive Summary

Frama Immobilien GmbH & Co KG are planning the construction of a complex for senior living. The project was planned by a renowned architect. Construction has already begun and a forward deal for € 13 million has been concluded with Patrizia AG. In addition, € 1.1 million in KFW funds are proved as security. 

Unfortunately, the main equity partner passed away during the early phases of construction. This means around € 1.1 million in committed equity now needs to be acquired for the project. Considering the unfortunate events, the project was not at immediate risk since a bank is financing a big part of this project. ( € 9,5730,000. )

Investing FAQ
Loan terms summary
  • Interest per annum 12.00%
  • Fully subscribed 1,110,000.00 raised
  • Risk class i
  • Expires Closed
  • Target amount €1,110,000.00
  • Profit share 0.00%
  • Term 15 Months
  • Payment frequency 1 months
  • Loan purpose Buy to sell
  • Type Bullet i
  • Mortgage rank Second Rank
  • Total Loan Cover (TLC) 207.2%
  • Loan To Value (LTV) 48.3% i
  • Location
    Germany
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