Project update

Update from the originator: 

The originator received a new appraisal report (see documents section), which values the property at 700 000 EUR, resulting in 2.65% capital growth. The book value of the claim units has been changed from 1.00 EUR to 1.02 EUR.

Even though commercial real estate is undervalued due to COVID impact on businesses, the new appraisal report still shows growth from the initial acquisition. The originator is confident that the market will balance out over time, making the current situation an opportunity.

Update from the originator:

The new valuation report will be ordered in the next couple of months. The indicators to evaluate commercial real estate are currently very conservative due to COVID. As the new valuation report will cost 300 EUR, we believe that it is wise to give it some time to get the most accurate result. To cover the cost for the new report, the next 3 rental payouts will be 100 EUR less than usual.

Update from the originator:

• The originator plans to keep this property long-term, as the property is well secured with a good rental contract for the next 7 years period and has a great potential for capital growth!
• So far everything has been going smooth with this property, there have not been any issues with the tenant or rental payments.
• The new appraisal report will be conducted in Q1 2021. The new appraisal report will change the shares book value.

New register document attached to the project's documents section.

2020 Q2

• Until the property was fully funded, the monthly rental payouts were proportional, based on the days' user was invested in the previous month.
• Until the property was fully funded, Reinvest24 did not take any management fees.
• Reinvest24 plans to keep this property long-term, as the property is well secured with a good rental contract for the next 8 years period and has a great potential for capital growth!
• COVID19 lockdown had no effect on rental income!