with an eye on the future


  • Collateralisation of the bond with portfolio real properties mainly in the logistics sector: EUR 20 million senior lien and EUR 10 million second lien
  • Reliable issuer with capital market experience
  • Focus on the established and stable real estate markets Germany and Austria
  • Balanced 2-pillar model: Steady revenues from an own portfolio with a strong substance and attractive developer returns from projects
  • Sound real estate substance: Fully let portfolio with 13 real properties (logistics, offi ce, residential buildings in Germany and Austria with tenants with a high credit rating
  • Portfolio generates rental income of EUR 3.8 million p.a.
  • Contractually fixed project pipeline with more than EUR 900 million; broadly diversifi ed portfolio with a focus on residential and offi ce buildings and completion of large scale projects by 2023

Public offer:Germany, Austria and Luxembourg 3 to 20 July 2020
ISIN / WKN:DE000A289PZ4 / A289PZ
Volume:up to EUR 30. Mio
coupon:5,50 % p.a.
Fully collateralised:Entry in the land register: EUR 20 million with senior lien and EUR 10 million with second lien
In addition:Assignment of the rental income from properties with senior lien collateralisation to trustee
term/maturity:5 years, repayment of 100 percent of the nominal amount on 22 July 2025
Covenants:Pari passu, minimum equity ratio, dividend payment restriction, negative covenant
Listing:Frankfurt Stock Exchange, Open Market planned on 22 July 2020
Applicable of funds:Refinancing of capital market liabilities (repayment of 2016/2021 bond)