Loan

Loan #814839 Nidda, 63667, Germany

Property location
Parkstraße 47 Nidda 63667 Germany

Executive Summary

Sunshine Apartments has been a well-known rental company for fitters and craftsmen for 30 years. There are long-term contracts with companies that need accommodation for their employees. The funds will be used to convert the two attic flats and to build the external facades in order to obtain additional rental space. 

The obtained securities include a covering Personal Guarantee (of € 180,000,-) and a SECOND charge mortgage (of € 180,000 valued at € 239,400). This second charge is confirmed to be settled by a letter from the bank of the borrower. After refurbishment, the property will be rented as per their earlier discussed business model.

Nidda is in the belt of the metropolis of Frankfurt. With 753,000 inhabitants and the Rhine-Main region as a metropolitan area with around 7 million people in the catchment area. Frankfurt is known for its function as a European financial and economic centre, the seat of the ECB, the large Rhine-Main Airport and the Datex node, the largest data node in the world. 

Investing FAQ
Loan terms summary
  • Interest per annum 11.00%
  • Fully subscribed 180,000.00 raised
  • Risk class i
  • Expires Closed
  • Target amount €180,000.00
  • Profit share 0.00%
  • Term 12 Months
  • Payment frequency 1 months
  • Loan purpose Buy-to-rent
  • Type Bullet i
  • Mortgage rank Second Rank
  • Total Loan Cover (TLC) 200.0%
  • Loan To Value (LTV) 50.0% i
  • Location
    Germany
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