PRIMUS Immobilien starts real estate project on Engel & Völkers crowd investing platform

PRIMUS Immobilien AG, a leading project developer in Berlin, has started a crowd investing project on the platform of Engel & Völkers Capital. The project involves the new construction of a thatched roof Village in Klein Stresow on Rügen. A total of 35 residential units are to be built there. Investors who participate in the development will receive a fixed interest rate of 6.4% p.a. immediately upon receipt of money. The planned term is approximately 17 months. The crowd investing campaign will run until 14 October 2018, unless the financing target is reached before then. Investments are possible via the website www.ev-capital.de.

“Tourism on the Baltic Sea is booming. Investors who invest in the project in Klein Stresow on Rügen can participate in this very positive development”, explains Sebastian Fischer, CEO of PRIMUS Immobilien AG. “Crowdfunding is increasingly gaining acceptance among private and institutional investors. For us, crowdfunding is an interesting addition to other forms of financing”, says Fischer.

The development of the holiday village includes the refurbishment of five holiday homes from the existing stock as well as the construction of twelve new residential buildings and a central building for organisation and operation of the resort. In addition, the infrastructural facilities such as supply and disposal lines, sewage treatment plant and public turning hammer will be renewed or supplemented.

The holiday village is idyllically situated between wooded areas and Greifswalder Bodden, in the South-East Rügen Biosphere Reserve. The project site at Dorfstraße 1 in Klein Stresow is located south of the L 29 highway, which connects the southern part of Rügen with Stralsund and thus with the German mainland. The journey time from Berlin is about three and a half hours by car. The construction time is about 18 months, completion is planned for spring 2020. The high-quality, fully furnished apartments will be sold to investors who want to profit from returns by renting their property as a holiday home. The property has already been purchased by PRIMUS. The financing includes the demolition, renovation and new construction work on the property. The demolition work has already begun, followed by the construction and civil engineering work. The total investment volume amounts to around 9.6 million euros. Of this, 2.75 million euros of mezzanine capital will be financed by Crowd, Engel & Völkers Capital and institutional partners. The financing of this project is guaranteed. 304,000 euro brings in PRIMUS real estates as own capital funds. For the sum financed over the Crowd a subordinated total land charge is registered on the project property. Translated with www.DeepL.com/Translator (free version)

PRIMUS Immobilien AG is a leading project development company in the Berlin-Brandenburg region. Since 1993 it has been developing, planning and building residential, commercial and holiday properties with a total of 60 employees. The privately owned AG is not listed on the stock exchange and is represented by the board members Franz-Josef Marxen, Klaus Prokop and Sebastian Fischer.