Fuutstraat - Rotterdam

Rotterdam, The Netherlands

SITG
The founders of EvoEstate invest their personal capital in this project.

174 000 €

Raised 174 000 €

8%Expected Return
6.5%Actual Return

6Months Expected Term
6Actual Months Term

Listed: 2020-09-22

Type: Purchase Loan

Mortgage rank: First

Interest payment schedule: Monthly

Min. amount of investment - € 0

Project originated by:

Project updates

Detail Descripton

Executive Summary

The loan will be used to purchase, renovate and furnish Fuutstraat 6b, a 2 bedroom apartment in Rotterdam which will be converted into a 3-room apartment for renting out to students / young professionals. The first 3 images shown are what the property looks like now and the last 3 are how it will look after renovations have been completed.

The property is located in the up and coming area of Rotterdam-Zuid. In 2022, a new student campus from the Erasmus University, the Hogeschool Rotterdam and Codarts, will be opened around the corner. This should increase the property value and reduce the possibility of rental vacancies.

Once the renovation is completed and the new studios are rented out, the property will be re-financed and the loan will be repaid in full. The term for this is 6 months. The interest will be 8%, paid monthly.

A first ranking mortgage will be established on behalf of investors to secure the loan and an additional business guarantee on the loan of €50,000 each will be put up by the personal holdings behind Cube Investments.

Loan terms

Target amount

€174,000.00

Minimum amount

€165,000.00

Interest per annum

8.00%

Profit share

0.00%

Term

6 months

Payment frequency

1 month

Loan purpose

Buy-to-rent

Type

Bullet

Loan To Value (LTV)

62.14%

Total Loan Cover (TLC)

157.50%

Investment plan

DESCRIPTION	AMOUNT
Purchase of property	€157,000.00
Renovation	€21,000.00
Furniture pack	€10,000.00
Other costs	€10,000.00

Payment terms

Payment will be released to the notary once a first rank mortgage has been established.

Collateral

A first rank mortgage will be established on behalf of investors to secure the loan and both personal holdings behind Cube Investments offer additional securities in the form of a business guarantee on the loan of €50,000 each. These business guarantees are considered to be mostly material. Combined resulting in a comfortable 62% loan to value and more than 150% Total Loan Coverage.

Cube Investments as well as the personal holdings have an A rating from Creditsafe, indicating a very low risk. The financial position of Cube Investments and the holdings is healthy.

Combined with an experienced team and trackrecord in real estate the chance that the loan will default, is considered to be small.

Mortgage

Below mortgage will be established on behalf of investors to secure this loan.

TYPE OF PROPERTY	MORTGAGE RANK	AMOUNT	LC
Residential	First Rank	€180,000.00	100.00%

Additional securities

TYPE OF SECURITY	QUALIFICATION	MODE	AMOUNT	SECURITY GRANTOR
Business Guarantee	Mostly material	Linear	€50,000.00	Caluro B.V.
Business Guarantee	Mostly material	Linear	€50,000.00	Ipando Holding B.V.

Risks

RISK	SCORE	MEASURE
Delay in renovation	Low	Cube Investment always works with the same contractors at a fixed price and fixed completion date basis.
Refinance delayed / denied	Low	Cube Investments has strong existing relationships with refinancing partners, which they have already used to refinance over 20 properties to date.
Not all studios rented out according to plan	Low	Due to the current high demand in the area this risk is considered to be low. Cube Investment also has financial buffers which are sufficient to meet interest payment obligations.

Fundraiser

Registration number

76616843

Address

Brielselaan 85 3081AB Rotterdam Netherlands

Contact

Cube Investment BV

E-mail

info@cubeinvestment.nl

Message from fundraiser

Cube Investment B.V. was founded in 2019 by Caluro B.V. and Ipando Holding B.V.

With Cube Investment we aim to provide great housing for students and young professionals. We buy properties in urban areas that need a little bit of love and attention. We turn these into high class, furnished studio's and student rooms. We have done this already with over 20 properties in the Rotterdam / The Hague area.

The people behind Cube are higly experienced in the real estate industry:

Esther Dekker

Esther is the managing director of Max Rentals. She has worked in the world of real estate for over 10 years and now boasts an abundance of experience in the Dutch property market. She is highly qualified to provide professional advice on many real estate issues, having earned a postgraduate title in social sciences (specialising in real estate). Esther hosts a real estate podcast with thousands of listeners and provides training on investing in real estate.

Edwin de Pijper

Edwin has been an independent entrepreneur for almost 30 years. Since 2005, he has been focusing on the real estate industry, starting a franchise in the property rental sector and subsequently growing his empire. Edwin is managing director of Max Rentals, a field in which he has held expertise for more than 18 years. Edwin is also involved the purchase of real estate assets on behalf of Max Property Group and other investors.

Olivier Karg

Olivier has a strong background in growth hacking training / coaching trajectories for Start-Ups and Scale-Ups and has joined Cube as managing director to build current investment portfolio in the Rotterdam Area.

Payment schedule

Date	Status	Late	Assignment date
16.11.2020	Paid	No	17 November 2020, 17:25
16.12.2020	Paid	No	16 December 2020, 12:42
16.01.2021	Paid	No	15 January 2021, 21:37
16.02.2021	Paid	No	17 February 2021, 11:23
16.03.2021	Paid	No	17 March 2021, 14:56
16.04.2021	Paid	No	13 April 2021, 14:39

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