Funded successfully

Grützmacherstraße 10

Wismar

Return

5.5% p.a.

Duration

48 months

Project type

Income

Distribution

Quarterly

Notice according to § 12 (2) Vermögensanlagengesetz

This investment involves considerable risk and may result in partial or total loss.

Project Presentation

The project "Grützmacherstraße 10" comprises the optimisation of the letting of an existing building in the German city of Wismar. The property is located in the centre of the Hanseatic city of Wismar, which lies directly on the Baltic coast of Mecklenburg-Vorpommern. The property comprises the existing building with 1,820 m² and has a total of 25 residential units. The plot of land amounts to 176 m². The residential units of the property are currently 100 % rented. The property generates around 150,000 € in annual rental income.

The purchase agreement has been concluded and the issuer is already the owner of the property. The objective of the issue is the equity refinancing of the acquisition of the property, as well as the optimisation of the portfolio units, and the financing of the renovation costs incurred in the course of the optimisation. The real estate project will be sold globally according to plan.

Wismar is a Hanseatic city on the Baltic coast. The city is the sixth largest in the state of Mecklenburg-Vorpommern in Germany. The historic city was added to the UNESCO World Heritage List in 2002. The property is located in the centre of the coastal town and local amenities of all kinds are within walking distance.

Deal Highlights

Fourreal - long-time partner of Rendity with already 7 successful redemptions

The project developer Fourreal has already financed 15 successful projects with the help of the Rendity investor community. Of these, seven projects with a volume of 2,250,000 € excluding interest have been repaid to the investors.

Rental income of about 150,000 € per year

The project includes optimising the letting of the existing building, financing the refurbishment costs incurred in the course of this optimisation due to a change of tenants, and the subsequent global sale of the real estate project. The current rental income amounts to approx. 150,000 €.

Security through the Rendity interest deposit

The Rendity interest deposit serves to secure our investors. The interest deposit is subject to fiduciary safekeeping and is used exclusively to offset interest payments that have not been made or missing capital repayments to investors.

Regular additional income - 5.50 % p.a. Distribution quarterly

Investors receive quarterly distributions of 5.50% p.a. on their invested capital during the term. The capital invested is paid back to the investors at the end of the term.

Historic pea store from around 1552 in the centre of the east coast town of Wismar

Schönscheidt.jpg

Investment Case

The borrower is the registered owner of the property with the address Grützmacherstraße 10, 23966 Wismar (Germany). The apartment building has a usable living space of 1,820 m² and a total size of 176 m². In total, annual net rental income of approximately 150,000 € is achieved. The owner plans to refinance the property and to optimise and renovate it.

The purchase of the property has already been completed and the issuer is already the owner of the property. The aim of the issue is to partially redeem the own funds used, to optimise the letting of the existing building (built in 1552), to finance the refurbishment costs incurred in the course of this optimisation due to a change of tenants, as well as the subsequent global sale of the real estate project.

Distribution every 3 months:

During the term, the lender receives an annual distribution of 5.50 %.

Interest deposit:

The Rendity interest deposit serves to secure the investors. Before the start of each project, the respective borrower has to pay an interest deposit in the amount of the interest for half a year into a separate trust account. The interest deposit deposited by the borrower is subject to fiduciary safekeeping and may only be used to compensate for interest payments not made or missing capital repayments to the investors.

Financials

Acquisition costs
2.280.000 €
Incidental acquisition costs
110.000 €
Financing costs
140.000 €
Other costs
290.000 €
Total investment costs
2.820.000 €

Finance Structure

Location

Welcome to Wismar

The city of Wismar is the district town of the Nordwestmecklenburg district in Germany. With a population of around 43,000, Wismar is the sixth largest city and the largest city of the 18 medium-sized centres in the state of Mecklenburg-Vorpommern. Wismar is located on the Baltic Sea coast at the southern end on Wismar Bay. Wismar is an important and popular destination for tourists as the city gains cultural and historical significance through its valuable townscape and attracts more and more cruises thanks to its location on the Baltic Sea. The industrial port and shipping industry is also of economic importance. Since 2002, the old towns of Wismar and Stralsund have been included in the UNESCO World Heritage List as the "Historic Old Towns of Stralsund and Wismar".

Microlocation Grützmacherstraße

Nothing is worth more than a good location. The property "Grützmacherstraße 10" is located in the centre of Wismar. The historic pea store is in a sought-after old town location. It is only a 7-minute walk to the Wismar train station and a 2-minute walk to the Lohberg bus station. The nearest airport in Hamburg can be reached by car in just under 90 minutes. Local amenities of all kinds are located in the immediate vicinity of the property.

Discover the surroundings

The property is ideally located in the old town centre of Wismar. Shops of all kinds can be reached in just a few minutes. The harbour and Wismar Bay are also just a few minutes' walk away. The location can be rated as excellent.

Wismar Water Art

The Wismar Water Art is the landmark of the city of Wismar. It is located on the large market square in Wismar. The structure, designed by the Utrecht master builder Philipp Brandin, worked on the principle of the running fountain. The construction of the Wismar Wasserkunst lasted from about 1579 to 1602. The style of the Wasserkunst is a dodecagonal building in delicate stone work in the style of the Dutch Renaissance. The building is made of limestone.

World Heritage House Wismar

The old towns of Stralsund and Wismar have been UNSECO World Heritage Sites since 2002. Wismar represents the ideally developed town complexes from the heyday of the Hanseatic League in the 14th century. The town centres, consisting of monumental brick churches and representative merchants' houses, date back to the Middle Ages and have been virtually preserved to this day. An exhibition in the World Heritage House can be discovered in the visitor centre. The exhibition gives visitors a vivid impression of the Hanseatic city's long history.

Lübeck Old Town

With just over 200,000 inhabitants and 214 km², the Hanseatic City of Lübeck is considered the second largest city in Schleswig-Holstein. In addition, Lübeck is one of the four major centres of the state. Lübeck can be reached from the property in just one hour. More than 7,000 students are attracted to the charming city every year, with the number of students increasing annually. This makes it one of the most important centres for teaching and research in the country. Around 7,000 ships call at the port city every year. Lübeck's old town is famous for its cobbled streets and romantic arcades. The world-famous landmark, the Holsten Gate, is a popular destination. The city gate demarcates the old town of the Hanseatic city of Lübeck to the west. The Holsen Gate is not only the city's landmark, but has also been Lübeck's city history museum since 1950. In addition, the city is also known as the Marzipan City and goes back to the marzipan tradition founded in 1800.

Hamburg

The famous Hanseatic city in Germany can be reached in just one hour and 30 minutes from Wismar. The nearest airport is also located in the historic city. The Hanseatic city of Hamburg is the second smallest of the 16 German states with an area of only 755 square kilometres. It is also the most populous city in Germany after Berlin and has one of the largest and busiest ports in Europe. The official name, which encompasses both the state and the city, reflects Hamburg's long tradition of particularism and self-government. Hamburg and Bremen (the smallest of the federal states) are the only German city states that still retain something of their medieval independence. Hamburg's characteristic individuality has been proudly cultivated by its citizens, so that the city's culture has retained its uniqueness in many areas of public and private life and has not succumbed to the general trend towards standardisation.

location-Gruetzi_88f887d038

Rating

A
CategoryRatingPoints
Evaluation of the locationSecondary
2
VacancyAlmost fully let
1
Project stageEarly phase
3
Track record of the real estate partner>100 Mio. €
1
Asset classResidential
Bank FinancingYes
Financing structure<60%
1
SecurityYes
Total
8
A
Rendity Rating are for informational purposes only. Real estate projects may fail. In the worst case, even the total loss of the invested capital can occur. You should therefore only invest funds you can afford to lose. Moreover, funds should be spread across various projects (diversification). Please note the respective documents for each project as well as the Risk Notice.

Team

Fourreal meets the challenge of contemporary space creation with the new construction or revitalisation of high-quality residential properties. When it comes to real material assets, Fourreal is the right contact. Since its foundation, the focus has been on project realisations in inner-city areas as well as on the development of living space in locations with a special quality of life. In addition to project development of upmarket residential properties, Fourreal concentrates on investments in properties for its portfolio. Precise property research and direct, compact planning enable the elimination of intermediate interfaces and thus maximum cost efficiency. Good creditworthiness and financial resources enable quick and flexible decisions.

FOURREAL GmbH

FOURREAL GmbH