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Distressed Real Estate Opportunity

Residential Project Bochum
56 Apartments

Partially completed multi-family building in established Ruhr area location. Bank workout situation with substantial value appreciation potential upon completion.

€7M
Capital Required
56
Apartments
60%
Completed
12-18M
Exit Horizon
01

Current Situation

Time-Critical: Bank Deadline in 4 Weeks

The financing bank has terminated all three loans. Without timely repayment, forced auction below market value is imminent.

Background: General Contractor Change

The original GC was replaced after the architect identified construction defects. A new general contractor is under contract.

Real Collateral Available (EUR 20+ Million)

First-rank land charge possible. Additional properties: Berlin Lichtenhainer Str. (EUR 18-20M) + Essen Planckstr. (EUR 1.5M) - both unencumbered.

02

Deal Structure

Use of Funds
Bank Refinancing €3,500,000
Construction Completion €3,500,000
Total €7,000,000
Collateral (Unencumbered)
Berlin Lichtenhainer Str. EUR 18-20M
Essen Planckstr. EUR 1.5M
Bochum (after payoff) 1st Rank possible
Total unencumbered ~EUR 20-22M
Pending: Land registry extract Bochum with current encumbrances
03

Property Bochum

Property Data
Address ██████████
Apartments 56
Living Area ████ m²
Plot Size ████ m²
Construction Progress ~60%
Valuation
Market Value (completed) €██M
Appraiser ████████
Appraisal Date ██.██.████

Current Construction Status

Building Street View
Street View Wittener Straße Shell complete, windows installed, balconies mounted
Building Corner View
Corner View with Balconies 4 floors, 56 residential units, underground parking
Upper Floor Hallway
Upper Floor Hallway Walls plastered, electrical installation prepared
Living Area
Living Area with Kitchen Connection Screed laid, kitchen connections available

Photos of current construction progress (February 2026)

04

Project Timeline

Past
Land Acquisition & Building Permit
Until Q3 2025
Construction to 60% Completion
Q4 2025
GC Default, Construction Halt
December 2025
Termination of All Bank Loans
Now
Investor Search (4 Week Deadline)
Q2–Q4 2026
Completion with New GC
2027
Refinancing / Exit
05

Additional Asset: Berlin

Blocked Until Bochum Resolved

The Berlin bank will only finance the planned renovation after successful resolution of the Bochum project.

Property Berlin-Lichtenhain
Current Use Care Home, 120 Beds
Planned Renovation 150 Beds + 48 Assisted Living
Capacity After Renovation ~200 Units
Current Value €██M
06

Risk Assessment

Time Pressure

Only 4 weeks until bank deadline. Non-repayment leads to forced auction below market value.

GC Default History

Previous general contractor disappeared with ~€1M. Execution risks present.

Construction Cost Uncertainty

€3.5M completion costs based on estimate. Cost buffer may be required.

Market Risk Residential NRW

Ruhr area residential market stable. Demand for multi-family housing present. Exit market intact.

07

Due Diligence Documents

○
Land Registry Extract Bochum
○
Bank Termination Letter
○
Loan Agreements (all 3)
○
Valuation Report
○
Building Plans & Permit
○
Current Construction Photos
○
New GC Contract
○
Corporate Structure / Registration
08

Target Investor Profile

Ideal Investor
Construction company with own GC capacity
Project developer with distressed experience
Family office with value-add focus
Investor seeking collateral + upside
Possible Structures
Mezzanine financing + equity kicker
Joint venture with profit sharing
Full project takeover
Bridge loan with exit at refinancing

Interested in More Information?

Complete documentation available after NDA execution.

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