The Berlin real estate investment company Linus Capital has awarded a 45 million euro financing to a Hamburg property developer.
The Berlin real estate investment company Linus Capital has awarded a 45 million euro financing to a Hamburg property developer. The loan will finance the purchase of a high-rise building in Barmbek-Süd in the heart of Hamburg. The 26-storey building consists of residential, office and retail units and is about 97 metres high. "The high-rise building is part of a Hamburg landmark. The property is located directly on the Outer Alster and the residents of the high-rise building benefit from a unique view over the entire city," explains Lucas Boventer, Investment Director at Linus.
The loan will be granted by the € 350 million debt-fund managed by Linus in cooperation with an institutional co-investor, which is already investing jointly with the Berlin-based company for the second time. Following the purchase by the Hamburg project developer, the building is to be completely renovated. The first part of the construction phase is expected to start during the second half of 2020.
This transaction increases the total volume structured by Linus to more than EUR 500 million, of which around four-fifths is in the whole loan segment. "The demand for Whole Loan loans continues to grow. For project developers, this type of project financing is of course much faster and less complicated, as they usually only work with one financing partner. We are very pleased that we were able to land this exciting project," says Lucas Boventer.
About Linus Capital
Linus Capital finances real estate projects with debt and mezzanine capital. The Berlin-based company itself always acts as an anchor investor in the mezzanine and whole-loan investments it makes. Once the loan has been granted to the project developer, Linus enables experienced private and institutional investors to participate in the investments made. The term of the loans is usually between 12 and 36 months. Linus is supervised by Bafin as a capital management company (KVG) and, together with co-investors, has invested a total of around EUR 500 million in capital in real estate projects since its foundation. In October 2019, Linus was able to increase the self-managed debt fund by a further 300 million euros.
Media contact Linus Capital
Phone: +49 6131 930 28 33