A new loan for a renovation project of property in Antwerp, Belgium, is published on the website of Max Crowdfund and is going live on Wednesday the 17th of March at 10.00 CET for all users of our platform. The loan is backed by a first charge on the mortgage and additional securities.
Cube Investment is looking to finance the purchase and renovation of a complete mansion consisting of 5 apartments located 200 meters from Antwerp’s central station. The property can be purchased significantly below its current market value. The apartments are currently rented out, and the property requires maintenance.
Some investors might recognize Cube Investments as the fundraiser of two previously successfully funded loans. These are the Fuutstraat in Rotterdam and the Trembleystraat in the Hague.
The plan is to completely renovate the property, giving up one of the current apartments to serve as storage space for the other apartments. Financing of € 975,000 is sought for the purchase and complete renovation of the property with a minimum of € 750,000 to cover the purchase and minimum work required.
A first rank mortgage of €1.350,000, including 35% execution costs, will be established on behalf of investors to secure the loan. Both personal holdings behind Cube Investment offer additional securities in the form of a business guarantee on the loan of €100,000 each. These business guarantees are partly material. The Loan To Value (LTV) is 62.9%.
The target amount of €975.000 has a term of 20 months. The interest per annum is 8% and will be paid out every month. For this loan, the risk class is C, which means that this is a relatively low-risk loan.
For now, this loan is only available for relatives and business partners of the fundraiser. This is the so-called “private round.”
Note: Do not forget to mention the correct reference with the investment.
Behind the scenes, we are busy reviewing loans. As soon as they have passed our due diligence, they will be published on the platform for our investors.
Our due diligence process is detailed, which takes time. We require a valuation report and this takes longer than expected. This is due to the fact that surveyors are very occupied.
Stay tuned for new investment opportunities and other exciting news, and don’t forget to follow our social media channels!
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Written by: Julia van der Kooij