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Risk Evaluation iFunded: B
On iFunded’s webpage, every project is evaluated based on 9 defined criteria and placed into one of 5 risk categories (A-E). SCHILLERPROMENADE BERLIN is placed in risk category B and therefore at relatively low-risk.
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Developer
The issuer of SCHILLERPROMENADE BERLIN project is Schillerpromenade 6, Herrfurthplatz 4 Grundbesitz GmbH. Managing Director and sole shareholder of Schillerpromenade 6, Herrfurthplatz 4 Grundbesitz GmbH is Mr. Ioannis Moraitis, who has been building a portfolio of residential real estate in Berlin since 2011.
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This is how Investors money in used
The subordinated loan is intended to finance the purchase of the property in the amount of approximately 6,500,000 Euros. In the second step, a further subordinate loan will be taken for the renovation of the building. A total cost of 10,524,000 Euro was calculated for the project.
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Thorough information concerning this project can be found in the Investment-Exposé
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SCHILLERPROMENADE BERLIN
Residential and commercial property in Neukölln
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- Investment type Loan
- Interest payments Semi-annually
- Funding threshold € 1,000,000
- Funding target € 1,100,000
The acquisition of this financial instrument involves considerable risks and can lead to the complete loss of the capital employed.
Still want to see SCHILLERPROMENADE BERLIN details?
Show project detailsInvestment Overview
Fixed interest rate of 6% per annum
No fees for the investor - neither agio premium nor ongoing management fees
No additional funding obligation for investors
Growing real estate market in Berlin
Property is almost fully rented
Existing residential and commercial real estate with ongoing rental income
A property in close proximity to Tempelhofer Field
Assigned income claims *
* For the benefit of the investors subordinated security in the form of security assignment of withdrawal claims of shareholders means that the shareholders may only make limited withdrawals from the assets of the issuer prior to full repayment of the loan amount. An additional pool of assets, which could be used in case of failure of the issuer to provide additional recoverable assets, is not provided by this security assignment.
THE INVESTMENT OFFER |
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| Type of investment | Subordinated loan |
| Borrower |
Schillerpromenade 6, Herrfurthplatz 4 Grundbesitz GmbH | Knesebeckstraße 33/34, 10623 Berlin |
| Loan size | 1,100,000 Euro |
| Inteded use of loan | Purchase, renovation, separation and sale of the units |
| Charges to investors | None |
| Minimum investment | 500 Euro |
| Interest rate | 6.00 % p.a |
| Duration | 18 months |
| Repayment | At maturity |
| Interest payment | Semi-annually |
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THE PROPERTY | SCHILLERPROMENDE BERLIN |
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| Property |
Existing residential and commercial real estate in Schillerpromenade 6 | Herrfurthplatz 4, 12049 Berlin |
| Year of construction | 1900 |
| Site area | 725 m2 |
| Units | 34 apartments and 2 commercial spaces |
| Total rental area |
2,287 m2/
approx. 2,669 m2 with attic extension |
| Currency | Euro |
| Occupancy rate | 97.9% (1 vacant residential unit of 61 m2) |
| Annual rental income (actual value) | 146,111 Euro |
| Total investment volume | 10,524,000 Euro |
| Borrowed capital (banks) | 6,175,000 Euro |
| Equity | 1,849,000 Euro |
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PROPERTY
PROJECT PROFILE
RISKS AND REWARDS
REWARDS |
RISKS |
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IFUNDED-RISK ASSESSMENT
- A
- B
- C
- D
- E
For each project on iFunded the risk is determined using a standardized procedure. There are a total of nine criteria, by means of which the project risk will be assessed. Depending on the severity of the individual risk criteria, risk points will be awarded and added up at the end. Depending on the number of risk points, the real estate project is classified into one of five risk classes. The risk categories go from A to E, with A being low risk and E for higher risk. Here you can download the detailed evaluation scheme as PDF:
iFunded Risk Assessment.
In total SCHILLERPROMENADE BERLIN earns 15 Risk Points and therefore achieves Risk Category B. This is how the criterias are build up:
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| Risk criteria | Specification | Risk points |
| Debt ratio | 58.67 % | 2 |
| Equity ratio | 17.57 % | 3 |
| Macro location | Berlin | 0 |
| Micro location | District in Berlin Neukölln | 1 |
| Occupancy rate | 97.9 % | 0 |
| Number of tenants | >10 | 0 |
| Development phase | Existing property with little maintenance backlog | 1 |
| Issuer experience | Total investment volume <50 million € | 4 |
| Securities | Personal guarantee | 2 |
| 2nd rank loan | 2 | |
| Profit transfer claims | 0 | |
| Overall | 15 |
DEVELOPER
Schillerpromenade 6, Herrfurthplatz 4 Grundbesitz GmbH is a Berlin-based project developer with a focus on the careful and comprehensive development of urban real estate projects - from investment through project planning to development. By focusing on existing properties in the capital, Schillerpromenade 6, Herrfurthplatz 4 Grundbesitz GmbH is well-acquainted with Berlin neighborhoods and is always up to date with regard to the market development in the metropolis. This project developer is characterized by his experience and the feeling for the right objects and recognizes the potential of a property with "Berlin charm" in interesting and ascending urban areas. Schillerpromenade 6, Herrfurthplatz 4 Grundbesitz GmbH is the borrower and the buyer of the property. It is managed by Mr. Ioannis Moraitis, who has been very successful as a project developer in Berlin since 2011.
APPLICATION OF FUNDS
The subordinated loan is intended to finance the purchase of the property in the amount of approximately 6,500,000 Euros. In the second step, a further subordinate loan will be taken for the renovation of the building. A total cost of 10,524,000 Euro was calculated for the project.
Measure/Scheme |
Costs including Tax |
| Purchase price | € 6,500,000 |
| Acquisition costs | € 562,000 |
| Construction costs | € 1,850,000 |
| Additional construction costs | € 112,000 |
| Cost of financing | € 753,000 |
| Overhead costs | € 747,000 |
| Total costs | € 10,524,000 |
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FINANZIERUNGSSTRUKTUR
Documents
| SCHILLERPROMENADE BERLIN Expose.pdf [ Deutsch ] |
Please note that this is merely a non-binding convenience translation. If you have problems of comprehension, please seek external support.
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