Project name
Sonnenhöfe Berlin
Location
– Antares, Schönefeld, Germany
– Aldebaran, Schönefeld, Germany
Category
Development of 559 rental apartments, 10,720 m2 office space, approx. 1,100 m2 retail and approx. 700 parking spaced in Berlin-Schönefeld
Latitude
52°23’17.02”N
Longitude
13°30’0.59”O
Initiator
REALIANCE Europe B.V.
Local partner
Eyemaxx Real Estate AG
Projected investment term
34 months (agreed term of minimum 2 years, maximum 3.5 years)
Repayment
After lease, sale to institutional end investors or through refinancing
Participation
From € 75.000
Structure
Participation in capital of Sonnenhöfe Berlin LP (Dutch CV), which subsequently holds all the shares of is German subsidiary (GmbH). This company provides a shareholder loan and holds 20% of the shares of the German intermediate holding (KG), which ten holds 50.1% shares of the development company.
Equity Dutch investors
€ 4,250,000
Equity Eyemaxx
€ 3,000,000
Mezzanine
€ 20,000,000
Bank loan
€ 111,954,764
Total investment
€ 138,954,764
Projected capital growth
34% after34 months
Projected return
12% ROI (per year)
Unique selling points
Phased development in a large-scale area development in Berlin-Schönefeld near the new Berlin Brandenburg International Airport (BER).
As part of the Berlin Speckgürtel region, the region benefits from the growth of the German capital.
Excellent location in a growth region with a constant increase in employment and inhabitants. Berlin Brandenbrug Airport creates more than 40,000 jobs and training places in the Schönefeld region, which guarantees economic growth/ prosperity.
Since 2011, the municipality of Schönefeld has attracted an investment volume of several hundred million euros, making it one of Germany’s fastest growing regions.
Pre-development risks are not applicable:
– Building permit available
– Building contract has already been signed with contractor Züblin (100% Strabag subsidiary)
– Mezzanine and Bank financing committed
– First groundwork started in March 2018
– Start of construction work in the parking garage in June 2018
Clear exit strategy developer by selling the development after ‘lease-up’ to institutional end-investor.
Local partner (listed company) guarantees the invested equity capital plus 8% return (108%), which guarantees the return of capital.