Q2 update from the developer:
What milestones have been reached since the last quarterly report?
Start of construction
What are the next steps? Please give a brief outlook for the next quarter.
Completion of the shell of house 1
Are delays foreseeable?
To what extent are sales activities currently taking place?
The sales activities have already started
How many units does the property have in total?
How large is the proportion of units currently reserved and sold?
Has the cost forecast been adhered to, fallen below or exceeded so far?
Cost forecast adhered to
Are the planned total costs adhered to?
Is the company's liquidity sufficient to meet all planned future obligations?
Additional communications to your investors
After the shutdown and the summer vacation, there will be a restart of sales activities, if not before a global buyer acquires the entire house with which we are currently in negotiations
Additional documents were added to the documents section.
This project was funded very fast and only a small position was left available to our investors- therefore not skin in the game.
On the 913 m² plot in Charlottenstraße 59 in 13156 Berlin, a harmoniously harmonized building ensemble consisting of an apartment building and a semi-detached house will be built. The multi-family house comprises a total of eight residential units spread over four floors. Here, among other things, a duplex apartment is being built, which has a beautiful roof terrace with southern exposure on the top floor. The semi-detached houses are located in the back of the property. These also have a terrace, as well as two more roof terraces with southern exposure and are spread over three floors.
The property has already been purchased and the building permit for the project has been granted. At the time of the building permit, adjustments are still being made regarding the optimization of the areas of the dwelling units of the multi-family dwelling, so that it is planned to start construction in the spring of 2020. It is intended to sell the residential units in retail sale. Since this is a new construction project, the housing units are probably not affected by the recently decided Berlin Mietendeckel.
To secure the loan receivables, a trustee will provide a land register collateral and a notarised abstract enforceable acknowledgment of debt in the amount of EUR 1.600.000, - in the ranking after the predominantly financing bank and its principal mortgage in the amount of EUR 1.250.000, - on the property in Charlottenstraße 59 in 13156 Berlin ordered and registered. Furthermore, the managing partner Mr. Andreas Schmidt personally assumes an enforceable abstract acknowledgment of debt in the amount of EUR 800,000.
The funds raised here are used for the realization of the construction project as well as pro rata for the payment of current interest and fees.
Exciting, curious and open - living on the pulse of the time. The capital is one of the largest metropolitan regions in Europe and is constantly changing. Whether relaxing and taking a deep breath in the middle of the green, capital city bustle in the city center or both - Berlin has the right places to offer for every desired living atmosphere. The metropolis is considered a cosmopolitan city of culture, politics, media and science. Population and visitor numbers, retail sales and construction and investment volumes are rising steadily. Berlin is an outstanding art and cultural center and has the reputation of being a European metropolis. Renowned institutions of high culture, daily events of the popular arts and a fast-paced scene life characterize the cultural landscape of Berlin.
With the Reichstag, the Brandenburg Gate, the Kurfürstendamm and countless other sights, you will find so many historic places as in hardly any other city. This makes the metropolis on the Spree one of the top locations for real estate investments. The demand for housing is still high and the population growth increases the attractiveness of the location.
Located in the north of Berlin, the popular district of Pankow offers lush greenery, upmarket residential complexes and good transport links. The third administrative district, and at the same time the most densely populated district of the capital, stretches from the district of Prenzlauer Berg to the quiet suburbs of Karow and Buch. Especially the old building neighborhoods and the high density of restaurants and small shops creates a distinctive charm, which leads to great popularity of the district. Worth seeing are above all the cultural places, like the wall park, numerous flea markets, the culture brewery or the castle Schönhausen. One of the 13 districts of Pankow is Niederschönhausen, which is significantly influenced by the development of old villas.
Among the most beautiful are the largely natural forest park Schönholzer Heide, the Brose and Bürgerpark and the spacious park around the castle Schönhausen. Here is also the over 300 years old Baroque building Schloss Schönhausen to find, which is one of the main attractions Niederschönhausen.
The project is being carried out by AK Charlottenstraße 59 GmbH and is being driven by the experienced project developers Andreas Schmidt and Roman Freytag.
Mr. Schmidt has already gained extensive experience through the realization of various projects. He is Chairman of the Supervisory Board of AK Anlage & Kapital Deutschland AG and Managing Director of the real estate project companies of the A & K Group. Since 1989 he has been working in the investment and real estate business and from 1997 worked in the management of various real estate companies until he joined the A & K Group in 2009.
Mr. Freytag is not only the managing director of the project companies of the A & K Group, but also the board member of the parent company AK Anlage & Kapital Deutschland AG. Since 2004 he has worked in the real estate industry in the areas of controlling, construction, sales and leasing, controlling and settlement. From the year 2004 he accompanies all projects of the A & K group as project controller.
|03.07.2020||Paid||No||03 July 2020, 20:37|
|30.12.2020||Paid||No||28 December 2020, 21:48|
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