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Investment Sold
Köln, North Rhine
| Annual Yield: | 13 % |
| Yield Distribution: | Monthly |
| Investment Type: | Debt |
| Project Type: | Residential |
| Estimated Repayment Date: | 23 November 2023 |
| Extension option: | 0 |
| Term: | 0 |
| LTV: | 80 % |
| Risk Rating: | A |
Schlenderhaner Straße 23, Köln, Germany
Investment provided by:
Overview
THIS INVESTMENT OPPORTUNITY IS PROVIDED BY MAX CROWDFUND.
The total loan amount requested by the developer is EUR 1,340,000.00
BrikkApp is offering our investors the opportunity to participate in funding a portion of this loan.
Summary
The purpose of this loan is to purchase a property. A multifamily house with nine residential units, including seven parking spaces, will be built and sold. The building permit has been in place since April 2022. Three of the flats have already been reserved. Division and preparation for construction will begin on 09.12.2022. The plan is to start building on 01.02.2023 and complete the shell. On 07.08.2023, the exit will be, selling the individual flats and repaying the loan. The new construction, until completion, is notarially agreed upon with all buyers. DOM Project Group has provided evidence of its own Equity (Approximately € 350,000).
A First rank mortgage of €1.600.000 excluding interest and execution costs, will be established on behalf of investors to secure the loan. Resulting in a loan-to-value (LTV) of 80.0%
Annual Yield
Your invested capital earns interest at 13 % pa for all investments over the entire funding period
Please note: at BrikkApp we display the net annual yield, free of any fees. Max Crowdfund charges a portfolio management fee of 0,1 % / month. E.g. When on Max Crowdfund you see an 11 % yield, It means 9.8 % net yield. At BrikkApp we always present our investors with the net annual yield that our investors can earn.
Investment
Investment Type
This is a “debt” investment, which means you are participating in a loan to a developer for the purpose of a real estate project.
Learn more about investment types in our article.
Investment Costs
Purchase Price €1,250,000.00
Miscellaneous Expenses €90,000.00
Location
Location
Köln is the fourth-largest German city in the middle of the Ruhr area, with its metropolitan area and 14 million inhabitants. The city is considered a city of knowledge and a large university city.
Risk
RISK ANALYSIS
Based on the details of this project, we have assessed a low-risk score A.
At BrikkApp, the risk is assessed on all projects presented using our risk model. Our risk model analyzes over 10 different metrics such as capital distribution, LTV, developer history, location, security level, and more.
The risk model uses a similar scoring model as traditional bond grading.
AAA is the safest, C is the riskiest.
A First rank mortgage of €1.600.000 excluding interest and execution costs, will be established on behalf of investors to secure the loan. Resulting in a loan-to-value (LTV) of 80.0%
Provider
The investment provider Max Crowdfund and DOM Projektentwicklungs GmbH Co.KG are cooperating together in order to fund this investment opportunity.
DOM Projektentwicklungs GmbH Co.KG develops conversion and space concepts according to urban planning. They provide long-term advice for a desired sale or purchase as well. The current Director is Elena Ditmann. The Address is Schönebeckstraße 5 47167 Duisburg Germany.
News
Updates:
Update from BrikkApp from 16/10/2023
Today we received all outstanding interest payments and principal repayment. This brings the principal repayment to 2 weeks ahead of the original schedule. To compensate for the delayed interest payments, we have paid interest to all investors until the end of the originally scheduled period - until November 1.
Update from Max Crowdfund from 25/08/2023
On 10 August 2023, the notary informed us that the request to amend the mortgage registration for this project had been submitted to the land registry. The bank responsible for the refinancing and therefore the repayment of Max Crowdfund's loan is currently waiting for confirmation of their mortgage registration and the deregistration of Max Crowdfund's. Once this process is complete, we will receive the scheduled repayment amount and all investors will be disbursed again.
Update from Max Crowdfund from 14/07/2023
We have an appointment with the notary today. We expect repayment between the next 1-3 weeks.
Update from Max Crowdfund from 30/06/2023
We recently received confirmation from the notary that the refinancing has been successfully completed with the bank.
Update from Max Crowdfund from 25/05/2023
The developer plans to refinance the loan. They applied for a bank loan at the beginning of May and it is expected to finalize the process in the upcoming weeks.
Update from Max Crowdfund from 14/03/2023
This Loan is two periods behind, namely periods 3 & 4. Today we have received a payment from the project developer which allows us to pay for one period. We will contact the developer so that they will soon transfer the payment for interest period 4. You will receive interest payment period 3 on your balance as soon as possible.
Update from Max Crowdfund from 13/12/2022
Interest payment period 1 was scheduled to be paid out on 28/11, but unfortunately, we have not yet received the payment from the project developer. There was a misunderstanding about the due date, as a result of which the project developer has not yet made the payment.
We expect that this payment can come in at any time. We are sorry for the inconvenience.
Because the payment is already more than 15 days behind, we have started the fine procedure.
Best regards,
The Max Crowdfund Team
THIS INVESTMENT OPPORTUNITY IS PROVIDED BY MAX CROWDFUND.
The total loan amount requested by the developer is EUR 1,340,000.00
BrikkApp is offering our investors the opportunity to participate in funding a portion of this loan.
Summary
The purpose of this loan is to purchase a property. A multifamily house with nine residential units, including seven parking spaces, will be built and sold. The building permit has been in place since April 2022. Three of the flats have already been reserved. Division and preparation for construction will begin on 09.12.2022. The plan is to start building on 01.02.2023 and complete the shell. On 07.08.2023, the exit will be, selling the individual flats and repaying the loan. The new construction, until completion, is notarially agreed upon with all buyers. DOM Project Group has provided evidence of its own Equity (Approximately € 350,000).
A First rank mortgage of €1.600.000 excluding interest and execution costs, will be established on behalf of investors to secure the loan. Resulting in a loan-to-value (LTV) of 80.0%
Annual Yield
Your invested capital earns interest at 13 % pa for all investments over the entire funding period
Please note: at BrikkApp we display the net annual yield, free of any fees. Max Crowdfund charges a portfolio management fee of 0,1 % / month. E.g. When on Max Crowdfund you see an 11 % yield, It means 9.8 % net yield. At BrikkApp we always present our investors with the net annual yield that our investors can earn.
Investment Type
This is a “debt” investment, which means you are participating in a loan to a developer for the purpose of a real estate project.
Learn more about investment types in our article.
Investment Costs
Purchase Price €1,250,000.00
Miscellaneous Expenses €90,000.00
Location
Köln is the fourth-largest German city in the middle of the Ruhr area, with its metropolitan area and 14 million inhabitants. The city is considered a city of knowledge and a large university city.
RISK ANALYSIS
Based on the details of this project, we have assessed a low-risk score A.
At BrikkApp, the risk is assessed on all projects presented using our risk model. Our risk model analyzes over 10 different metrics such as capital distribution, LTV, developer history, location, security level, and more.
The risk model uses a similar scoring model as traditional bond grading.
AAA is the safest, C is the riskiest.
A First rank mortgage of €1.600.000 excluding interest and execution costs, will be established on behalf of investors to secure the loan. Resulting in a loan-to-value (LTV) of 80.0%
The investment provider Max Crowdfund and DOM Projektentwicklungs GmbH Co.KG are cooperating together in order to fund this investment opportunity.
DOM Projektentwicklungs GmbH Co.KG develops conversion and space concepts according to urban planning. They provide long-term advice for a desired sale or purchase as well. The current Director is Elena Ditmann. The Address is Schönebeckstraße 5 47167 Duisburg Germany.
Updates:
Update from BrikkApp from 16/10/2023
Today we received all outstanding interest payments and principal repayment. This brings the principal repayment to 2 weeks ahead of the original schedule. To compensate for the delayed interest payments, we have paid interest to all investors until the end of the originally scheduled period - until November 1.
Update from Max Crowdfund from 25/08/2023
On 10 August 2023, the notary informed us that the request to amend the mortgage registration for this project had been submitted to the land registry. The bank responsible for the refinancing and therefore the repayment of Max Crowdfund's loan is currently waiting for confirmation of their mortgage registration and the deregistration of Max Crowdfund's. Once this process is complete, we will receive the scheduled repayment amount and all investors will be disbursed again.
Update from Max Crowdfund from 14/07/2023
We have an appointment with the notary today. We expect repayment between the next 1-3 weeks.
Update from Max Crowdfund from 30/06/2023
We recently received confirmation from the notary that the refinancing has been successfully completed with the bank.
Update from Max Crowdfund from 25/05/2023
The developer plans to refinance the loan. They applied for a bank loan at the beginning of May and it is expected to finalize the process in the upcoming weeks.
Update from Max Crowdfund from 14/03/2023
This Loan is two periods behind, namely periods 3 & 4. Today we have received a payment from the project developer which allows us to pay for one period. We will contact the developer so that they will soon transfer the payment for interest period 4. You will receive interest payment period 3 on your balance as soon as possible.
Update from Max Crowdfund from 13/12/2022
Interest payment period 1 was scheduled to be paid out on 28/11, but unfortunately, we have not yet received the payment from the project developer. There was a misunderstanding about the due date, as a result of which the project developer has not yet made the payment.
We expect that this payment can come in at any time. We are sorry for the inconvenience.
Because the payment is already more than 15 days behind, we have started the fine procedure.
Best regards,
The Max Crowdfund Team