Update from the originator:
the German fundraiser has decided to increase the interest from 8% to 10%.
He has also requested to lower the minimum raise to €1,000,000, as he has provided us with proof of funds in his bank accounts to cover the difference, in case the full €1,500,000 is not reached.
It is becoming increasingly harder in Germany to obtain funding from high street banks for property developments, which is great news for you, investors.
To ensure everyone has the chance to invest in the loan the originator has increased the time to participate by several days, so from today there are two weeks left to get involved. Unless the loan is fully subscribed beforehand of course, which the originator believes is feasible with the improved terms.
|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
We hereby present the project Mülheim an der Ruhr, which is a purchase, renovation and enlargement of 6 existing terraced houses. The 6 houses will be gradually renovated and enlarged / roof extension. The then enlarged real estate / houses are sold individually to owner-occupiers after renovation and upgrading of the building fabric. For this purpose, there is already a waiting list, declaration of intent from potential buyers who want to secure a house.
The historic property is located in a central location, very well integrated into public transport in the district of Dümpten. The district of Dümpten is considered a sought-after and preferred residential area in Mülheim.
Mülheim is a location with around 20,000 inhabitants in the heart of the Ruhr area. The city of Mülheim is known for its wealthy population and its central location in the middle of the western Ruhr area. The neighbouring cities of Essen, Duisburg and Leverkusen are all major cities in a booming Rhine/Ruhr metropolitan region.
Mülheim an der Ruhr is a city where life is good. It is the only city in the Ruhr area where the Ruhr flows through the middle of the city over a length of 15 km. As a result, Mülheim has many green but also attractive urban living spaces. This special location as well as many local recreation opportunities and green areas, good neighborhoods in the residential environment and generally good living conditions characterize Mülheim. The city also has a lot to offer in the cultural, educational and leisure sectors.
A first rank mortgage of € 1,500,000 excluding interest and execution costs will be established on behalf of investors to secure the loan while the market value after completing renovations is estimated at approximately € 2,400,000. In addition, a 2nd rank mortgage of € 200,000 excluding interest and execution costs will be established on an additional property and a personal, material guarantee of € 500,000 will be provided to secure the loan. Combined, resulting in a loan to value (LTV) of 68.2% and a Total Loan Coverage (TLC) of 144.3%
Acici Immobilien GmbH has a B rating from Creditsafe, indicating a low to moderate risk. The identified risks are estimated as limited. The project developer is confirmed to be very experienced in real estate investing. This loan has been assigned a score of B on the basis of the risk analysis.
|Economic downturn could affect property market/values.||Low||Developer aready has various interested buyers to purchase the properties when renovations are completed.|
|Refurbishment cost: There is a risk that the project cost could extend beyond the expected budget of €720,000.||Low||Renovation costs are known/fixed mostly, limited to none additional costs expected. If any occur, 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 HRB 27917
Address Lindenallee 7 45127 Essen Germany
Contact Acici Immobilien GmbH
Message from fundraiser
We, the Acici Group, have been active for 15 years and we consider ourselves to be very experienced project developers, specializing in the renovation of high-quality properties in good sought-after locations.We have already renovated and sold more than 20 projects.
We are very pleased to have found an experienced real estate crowdfunding platform in Max Crowdfund, so we can finance our developments. We have a considerable pipeline of project, which we look forward to finance via Max Crowdfund.