Loan

Loan #1438885 Viernheim, 68519, Germany

Property location
Joseph-Haydn-Straße 4 Viernheim 68519 Germany

Executive Summary

The Joseph-Haydn-Str 4 renovation project is being undertaken by SRC İmmobilien GmbH from Mannheim, a group of experienced developers and property investors. It is a relatively small loan of €150,00 with an interest rate of 12%. Located in an excellent part of Viernheim, in the Rhine Neckar region of Germany, the building contains four apartments, which will be renovated (May 2023), rented and sold once tenanted. If the house cannot be sold, plan B is to refinance the house and use the money to repay the loan.  

The property was built in 1950 and is divided into four flats with a total of 248,70 m2 of living space and a large garden of approx. 538m2. The upper floor apartments have at least one balcony, and the ground floor flat has a large terrace. There are also two garages on the property.

Viernheim, with its 32,000 inhabitants, is a medium-sized town on the outskirts of the university city of Mannheim, which has approximately 320,000 inhabitants and is located in the Rhine Neckar region.

The project is a new venture by SRC İmmobilien GmbH from Mannheim. Constantin Richter and Partner are experienced developers and investors within the Rhine-Main and Rhine-Neckar regions and also owners of the Watertower Immobilien Group. Their main activity is the purchase, conversion and development of real estate. Their business model is based on selling the renovated projects or letting and refinancing them, thus providing an alternative exit strategy should a sale not be realisable.  

The loan is secured by the 2nd rank mortgage of a property in Leutershausen, which is in very good condition, with 279 m² of living space and 920 m² of land. This property is also a previously succesfull crowdfunded project at Max Crowdfund.

Investing FAQ
Loan terms summary
  • Interest per annum 12.00%
  • Fully subscribed 151,000.00 raised
  • Risk class i
  • Expires Closed
  • Target amount €151,000.00
  • Profit share 0.00%
  • Term 12 Months
  • Payment frequency 1 months
  • Loan purpose Buy to sell
  • Type Bullet i
  • Mortgage rank Second Rank
  • Total Loan Cover (TLC) 141.6%
  • Loan To Value (LTV) 70.6% i
  • Location
    Germany
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