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New short-term real estate backed loan from Germany, with low LTV and high interest rate.
Magdeburg is the capital of the German state of Saxony-Anhalt. It is located on the Elbe River and is one of the oldest cities in the country. It was founded by Charlemagne in 805 AD and has a long history of being an important trading and industrial center. Today, it is a modern city with a population of 240 000. It's a city with a vibrant cultural scene, plenty of green spaces, and a range of attractions for visitors. It is home to a number of universities, museums, and galleries, as well as numerous parks, gardens, and monuments. Magdeburg is also a major transport hub, with an international airport, two railway stations, and excellent road connections.
The living environment of Neue Street in Magdeburg is a mix of old and new, offering something for everyone. From the world-famous Magdeburg Cathedral and other historical attractions to modern museums, cafes, and parks, this area of the city provides everything needed for comfortable living.
The property is located in the Neue street 1A, Magdeburg, Germany. It is currently a land plot with 344m2, that is prepared for a modern 5-story apartment building development. The detailed planning is issued and the developer is currently preparing to submit the construction permit. The apartment building will have 9 residential units with balconies, the total living space area will be around 540m2. The building will have an elevator and 6 outdoor parking spaces.