The Berlin real estate investment company Linus Capital has structured a whole loan financing of 85 million euros for the project development known as "SLT 107 Schwabendlandtower" in Fellbach, 9 km northeast of Stuttgart.
The Berlin real estate investment company Linus Capital has structured a whole loan financing of 85 million euros for the project development known as "SLT 107 Schwabendlandtower" in Fellbach, 9 km northeast of Stuttgart. The project development planned by the CG Gruppe AG provides for a rentable area of more than 16,000 sqm in the highest residential tower in Baden Württemberg with 107 meters: The residential tower will house 194 modern, compact apartments with a unique view over the Stuttgart region, while a hotel with 164 rooms is planned at the base of the building. In addition to the façade, this part of the building in particular will experience a high-quality implementation with large, light-flooded windows and modern materials.
"We are cooperating with a competent, financially strong partner like Linus Capital, because our aim is to develop a sustainable residential tower", says Christoph Gröner, founder and CEO of the CG Group and adds: "We have decided to achieve the KfW 55 standard for the SLT 107, although the high-rise is considered an existing building as it was taken over in the shell construction .To do this, we use a wide range of advanced energy options such as wind flow turbines, which are used to generate electricity from the up winds on the facade. Furthermore, a heat pump and the activation of the base plate are planned. The completion date for the Schwabenlandtower is the second quarter of 2021.
Linus CEO David Neuhoff is behind the CG Group's high-rise project: "The Stuttgart region is known beyond the borders of Germany for its above-average economic power. We are very pleased to accompany the financing of the region's new landmark and to support the CG Group in its project".
The whole loan serves to refinance the existing purchase financing and to finance the construction costs until completion. The loan was granted by the € 350 million debt-fund managed by Linus Capital as well as by an institutional co-investor who has invested with Linus Capital on several occasions. With this financing, the financing volume structured by Linus in 2019 in the Whole Loan segment will increase to over 270 million euros.
"This project shows that Whole Loans are a fast and uncomplicated form of one-stop financing for project developers and are a viable alternative to traditional senior bank financing, as they require additional mezzanine financing or high equity investments. Following our large whole loan financings in Berlin and Leipzig, we are now pleased to be able to apply our expertise in the Stuttgart area as well. We already have further financing volumes in the triple-digit million range in the pipeline for early 2020. In addition to our fund, we are increasingly investing in partnership with insurance companies, pension funds and banks. Some partners have already participated with us in several financings in 2019," says Linus CEO David Neuhoff.
About Linus Capital
Linus Capital finances real estate projects with debt and mezzanine capital. The Berlin-based company always acts as an anchor investor itself in the mezzanine and whole-loan investments it finances. After the loan is 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 380 million euros in capital in real estate projects since its foundation. In October 2019, Linus was able to increase the self-managed debt fund by another 300 million euros.
Media contact Linus Capital
Phone: +49 6131 930 28 33
About the CG Gruppe AG
The CG Gruppe AG is the leading developer of rental apartments in Germany. The nationwide operating company has been shaping the development, structural implementation and marketing of residential and commercial real estate for over 20 years. With locations in Leipzig, Dresden, Berlin, Hamburg, Düsseldorf, Cologne, Frankfurt, Stuttgart, Karlsruhe and Munich the CG Gruppe AG covers the ten economically strongest metropolises in Germany. Over 800 employees ensure the consistently high quality and sustainability of the real estate products during acquisition, project planning and construction. The company's declared goal is to create affordable living space through digital construction (BIM/serial component production), incorporating technological and ecological innovations such as CO2-neutral heating systems that are significantly below the legal requirements. New buildings are created within the framework of large-scale district and urban district developments, and industrial, office and high-rise buildings are converted into modern living, working and living spaces. The company's performance horizon for the next five years is set at a total volume of over 8 billion euros. Together with the shareholder CONSUS Real Estate AG, the CG Gruppe AG stands for high performance, innovation and new dimensions in the real estate market.
Media contact CG Gruppe AG
Phone: +49 (0)30 86 872 - 7319
CG GROUP AG
Wilmersdorfer Strasse 39