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Update from the originator:
A new valuation report has been created for the project.
The initial book value of this property will be changed according to the new valuation report. Even though the indicators used to evaluate commercial real estate are currently very conservative due to COVID. As the office went through a full renovation, the originator still decided to go ahead and ordered a new report. The new valuation report can be found in the Documents" section.
Additionally, please find a video update.
Update from the originator:
The new valuation report has been conducted. The result will be published tomorrow and the book value will be adjusted accordingly. The cost of the new valuation report is 300 EUR, which will be divided between the next 3 rental payouts.
Update from the originator:
Update from the originator:
The originator still has 3 indoor parking lots that are not rented out yet, the actual net rental yield will be around 6,5%. It’s a bit lower than expected as the tenant requested changes in the office planning and full renovation, which they partially paid for, all together that will result in higher capital growth which is going to compensate for the lower interest.
Reinvest24 will begin generating the first income, of 7.15% XIRR starting from September 1st, which will be paid out in October. A tenant should be entering the properties in the month of October, therefore Reinvest24 will carry out the remaining works in order finalise the agreement with the tenant and in the mean time, perform the renovation of the asset.
Update from Reinvest24:
Starting from the 1st of September this property will start generating income for the investors. The first payout will be made in October!
2020 Q2