Loan

Loan #589669 Magdalenenstraße 3, 45889 Gelsenkirchen, Deutschland

Property location
Magdalenenstraße 3 Gelsenkirchen 65889 Germany

Executive Summary

Gelsenkirchen, located in the "Ruhrgebiet", has close to 250,000 inhabitants and the property is located in a popular area. The developer is highly experienced and has previously purchased, renovated and sold over 15 buildings successfully.

The developer is providing a first ranked mortgage on the building to be purchased and renovated, and offers a first mortgage on a privately owned building in Gelsenkirchen as additional collateral. Combined the loan is secured with first mortgage for the amount of €650,000. On top of this he is also providing a personal, material guarantee of €100,000.

Investing FAQ
Loan terms summary
  • Interest per annum 8.00%
  • Fully subscribed 550,000.00 raised
  • Risk class i
  • Expires Closed
  • Target amount €550,000.00
  • Profit share 0.00%
  • Term 15 Months
  • Payment frequency 1 months
  • Loan purpose Buy to sell
  • Type Bullet i
  • Mortgage rank First Rank
  • Total Loan Cover (TLC) 136.4%
  • Loan To Value (LTV) 73.3% i
  • Location
    Germany
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