|Criteria||From a+ to d||Project rating|
Macro Location Analysis
EvoEstate Risk rating is of an informative nature only & can not be considered investment advice.
Loan To value
Purpose of the loan
Gelsenkirchen, located in the "Ruhrgebiet", has close to 250,000 inhabitants and the property is located in a popular area. The developer is highly experienced and has previously purchased, renovated and sold over 15 buildings successfully.
The developer is providing a first-ranked mortgage on the building to be purchased and renovated and offers a first mortgage on a privately owned building in Gelsenkirchen as additional collateral. Combined the loan is secured with the first mortgage for the amount of €650,000. On top of this, he is also providing a personal, material guarantee of €100,000.
Interest per annum
Loan To Value (LTV)
Total Loan Cover (TLC)
Funds raised will be made available to the notary to establish the first mortgage right on both properties and to be used to purchase the property. The remainder to be made available to the developer by the notary.
No additional terms & conditions apply to this loan.
Topcu-invest GmbH has a B rating from Creditsafe, indicating a medium risk.
The developer, Topcu Invest GmbH, is providing both the building to be purchased (Magdalenenstr. 3, Gelsenkirchen) and (Industriestr. 82, Gelsenkirchen), which are both mortgage free, as securities. He is providing an additional personal, material guarantee of €100,000, which gives a combined loan to value (LTV) of 73.3% and a total loan cover (TLC) of 136.4%.
This ensures that the risk factor of this loan is classed as B.
Below mortgage will be established on behalf of investors to secure this loan.
|TYPE OF PROPERTY||MORTGAGE RANK||AMOUNT||LC|
|TYPE OF SECURITY||QUALIFICATION||MODE||AMOUNT||SECURITY GRANTOR|
|Personal Guarantee||Material||Constant||€100,000.00||Güney Topcu|
|An economic downturn could affect the property market/values||Low||The developer already has multiple interested buyers to purchase the property when renovations are completed.|
|Refurbishment cost: There is a risk that the project cost could extend beyond the expected budget of €100,000.||Low||Renovation costs are know/fixed mostly, limited to no additional costs expected. If any occur, the developer will be able to cover them.|
|Delays in the project that prevent the loan from being repaid on time.||Low||More than enough slack planned to absorb any overrun of the renovation work and/or sale of the property.|
Registration number HRB29762
Address angelikastr 6 46537 Dinslaken Germany
Contact Topcu-invest GmbH
Message from fundraiser
The developer, Topcu Invest GmbH, is an experienced property developer and has already purchased, renovated and sold more than 15 projects in Germany. There are already interested parties to purchase the individual apartments and potentially to purchase the entire building.