Linus is allocating almost 50 million euros for the project. The funds will be used to finance the construction of flats.
Together with an insurance company, Linus Digital Finance has extended a loan of almost 50 million euros for a project development in Berlin. The financing is a whole loan, i.e. a loan that represents both the senior and subordinated tranches of a real estate financing. The loan was extended via a loan fund managed by Linus.
The funds will be used to finance the construction of flats. On a plot of land in the Wilmersdorf district, 59 condominiums and 157 rental flats will be built, 49 of which will be subsidised units. A total of around 19,000 square metres of living space will be added to the Berlin market. Linus had already financed the purchase of the land for the project developer, also via Whole Loan. According to Lucas Boventer, Managing Director of Linus, whole loans are to play a key role in lending. The whole loan segment continues to develop dynamically and is an integral part of project financing. We want to be even more active there in the future'.