Club investments in the construction of a 10-apartment building in Berlin.
Description
The essence of the project: the purchase of a site, demolishing an old building, construction of a new one, selling apartments.
Now there is a 14-apartment house on the site, furnished apartments are rented in a medium-term lease, contracts are canceled by tenants' notification for 3 months, the owner assumes the obligation to evict.
At the moment, it is possible to enter the project within the framework of a club deal together with other investors.
Project term: 18 months.
The required investment is 22,388,375 €.
LTV — 32%.
The project costs are 33,011,525 €.
Sales price is 46,542,500 €.
Net profit is 9,295,082 €.
Investor IRR 19.2% p. a.
The distribution of profits between the investor and the developer is 50/50.
The property is located in the area of Ulenhorst, near the lake Alster. There are public transport stops, a metro station, supermarkets, a shopping center and numerous cafes and restaurants nearby.
