Project update

Update from the originator: 

The issuer of the project, has informed us that there have unfortunately been considerable delays due to rising interest rates, increased construction costs and problems with the construction companies. The issuer continues to work on refinancing the project. According to the issuer, the construction project should be completed in around 10 months. 

The contractually agreed interest and the statutory default interest of 4.0 percent will continue to accrue until the actual repayment date.

The Issuer is endeavoring to find a quick solution and apologizes for the open payments and the inconvenience involved.

Update from the originator:

Schuhmeierplatz 13 Construction GmbH, the issuer of the "Schuhmeierplatz 13" project, has informed the originator that the refinancing of the project is still being worked on. Unfortunately, this is taking longer than expected due to the current market situation. 

The contractually agreed interest and the statutory default interest of 4.0 percent will continue to accrue until the actual repayment date.

However, at this time the originator must inform you that an exact payment date has not been set. 

As soon as the originator has new information, they will let you know.

The Issuer apologizes for the delay and any inconvenience this has caused.

Update from the originator:

Schuhmeierplatz 13 Construction GmbH, the issuer of the "Schuhmeierplatz 13" project, has informed the originator that the refinancing of the project is being worked on. Unfortunately, this took longer than expected, which is why the repayment date could not be met. 

Discussions have already been held with banks and investors, and positive feedback has already been received. The originator is currently working intensively on a signing date and the subsequent payment processing so that the capital of investors can be returned.

The contractually agreed interest and the statutory default interest of 4.0 percent will continue to accrue until the actual repayment date.

As soon as we have new information, the originator will let you know.

The Issuer apologizes for the delay and any inconvenience this has caused.

Update from the originator: Since the last project status for Schuhmeierplatz 13, work has continued at full speed to make up for the delay in construction. Structural measures in the project led to a change of plan and, as a result, to delays in the construction time. If it is not completed by the end of September, the issuer has nevertheless assured the originator that the repayment will take place in good time, since in this case refinancing will take place to ensure the repayment. The originator will keep you informed about the project.

Update from the originator: In the case of the Schuhmeierplatz 13 project, static measures led to a change of plan and, as a result, delays in the construction time. However, the work has since been resumed. The general contractor is currently working at full speed to make up for the delay in construction. The shell of the building is currently being completed so that the interior work can begin soon. The issuer then assured that the capital would be repaid in a timely manner – even if the building was not completed by the end of September. In this case, a co-investor would step in so that you get your investment back on time. If there are any changes to the project, the originator will inform you promptly.