INCOME GENERATING FUND 1 Portfolio 2011 Potsdamer Platz, Berlin
Properties Acquired in 2011 In 2011, over 80 investors joined together in the Propfund – Income Generating Fund 1 with over €4,75mil in private equity to purchase 240 apartments worth over €12,6mil. The investors funds were pooled together with bank financing from German banks to purchase the properties. The entire portfolio is currently generating a rental income of over €1,1mil per annum which is a rental yield of 9.4%. By investing an average of €50,000 and pooling the funds together, each investor is getting a much higher return from this fully managed investment rather then investing directly into a single property.
Purchase Costs and Equity Required Purchase Price:
€12,602,500
Notary fee (1.22%):
€153,157
Stamp Duty (4.25%):
€535,488
Due diligence:
€7,558
Refurbishment:
€163,500
Bank fee (0.75%):
€93,900
External brokers (3.77%):
€474,827
Total Purchase costs:
€14,130,930
German bank financing
85% LTV Total amount of bank financing based on the purchase price.
Rental yield
9.4% Average rental yield from all properties in the portfolio.
Bank financing and Private Equity Required German Bank Financing (85% ltv):
€10,695,000
Rental income
Propfund private equity:
€3,435,930
€1,187,233
Annual Costs & Cash Surplus Projection
Total annual rental income per year from all properties in the portfolio.
Annual Rental income:
€1,187,233
Property Management (5.14%):
€60,995
Mortgage interest repayments (3.95%):
€422,922
Portfolios purchased for
Management Fee: (2%):
€23,745
€12,602,500
Administration Costs:
€120,258
Total Annual running costs:
€627,919
Includes 6 portfolios of 240 units and 27 car spaces.
Annual Cash Reserve (4.8%):
€57,458
Annual Mortgage repayment (2%):
€214,185
Annual cash surplus after all costs & reserve (8.37%): €287,670
Current portfolio value
€14,800,000 Portfolio Overview
Measuring is based on a purchase factor which is 12,5 times annual rental income.
Cash surplus per annum
€287,670 Annual rental income leftover after all expenses.
www.propfund.com
Hessisch - Lichtenau (Kassel) Units
48
Purchase price
€1,795,000
Rental yield
9.24%
Rental Income
€166,000
Treptow-Koepenick, Berlin Units
33
Purchase price
€3,350,000
Rental yield
7.8%
Rental Income
€263,331
Pankow, Berlin Units
19
Purchase price
€920,000
Rental yield
9.3%
Rental Income
€85,902
Tempelhof-Schöneberg, Berlin Units
19
Purchase price
€1,472,500
Rental yield
9.6%
Rental Income
€142,000
Cottbus Units
48
Purchase price
€2,465,000
Rental yield
9.7%
Rental Income
€240,000
Brandenburg Units
73
Purchase price
€2,700,000
Rental yield
10.7%
Rental Income
€290,000
Propfund Germany 1 GmbH & Co. KG. FriedrichstraĂ&#x;e 82, 10117 Berlin-Mitte T: +49 (30) 499 05 09 50 E: info@propfund.com
www.propfund.com
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