• Category - Real estate backed loan
• Payment frequency - Monthly interest payments
• Collateral - 1st rank mortgage +  owner´s personal guarantee
• Country - Germany
• Max LTV - 70%

This project received initial funding from Estateguru, but as they paused their operations in German, the developer was not able to continue with this project. We have carefully picked this project out of many that are in a similar situation.

Area
Magdeburg is the capital of the German state of Saxony-Anhalt. It is located on the Elbe River and is one of the oldest cities in the country. It was founded by Charlemagne in 805 AD and has a long history of being an important trading and industrial center. Today, it is a modern city with a population of 240 000. It's a city with a vibrant cultural scene, plenty of green spaces, and a range of attractions for visitors. It is home to a number of universities, museums, and galleries, as well as numerous parks, gardens, and monuments. Magdeburg is also a major transport hub, with an international airport, two railway stations, and excellent road connections.

The living environment of Neue Street in Magdeburg is a mix of old and new, offering something for everyone. From the world-famous Magdeburg Cathedral and other historical attractions to modern museums, cafes, and parks, this area of the city provides everything needed for comfortable living.

For the upcoming future Magdeburg will be one of the Germany cities where large companies will open their operations. Intel has announced a 17 billion EUR investment into developing their factory in Magdeburg. It is estimated that more than 10 000 people will move to Magdeburg to work in this factory, increasing the demand for living spaces in Magdeburg.

The property
The property is located in the Neue street 1, Magdeburg, Germany. It is currently a land plot with 371m2, that is prepared for a modern 5-story apartment building development. The construction permit has been issued and the site is fully ready for the construction works to start. The preparation works for the building foundation is already ongoing. The apartment building will have 9 residential units with balconies, the total living space area will be around 537m2. The building will have an elevator and 6 outdoor parking spaces.