Underlying Project Overview
Located in a strategically positioned area of Hamburg’s Niendorf district, the Frohmestraße 142 project will deliver approximately 100 high-quality micro-apartments and four ground-floor commercial units, designed for modern urban living.
Situated near the airport and a major hospital, the project offers excellent infrastructure access and services. It is designed to meet the KfW 40 energy efficiency standard and combines urban architectural clarity with a strong sustainability profile. The residential units target students and young professionals, while the commercial spaces are intended for convenience retail, laundry services or food use.
The 2,209 sqm of residential space and 240 sqm of commercial space will be completed within 14 months after permitting. Construction is led by experienced partners, including RECONA Holding and C&S ImmoConcept.
Project Highlights
(~100) micro-apartments + 4 commercial units
KfW 40 standard (energy-efficient new build)
Modern urban architecture with rooftop terrace and green spaces
Total area: 2,449 sqm (residential + commercial)
Target group: students, professionals, private investors
Located near Hamburg Airport and urban hospitals
Strong team of regional partners and execution track record
Secondary-ranking land charge as security instrument
Transaction Structure
This investment is structured as a debt restructuring facility to refinance legacy obligations and reposition the capital structure. Total refinancing volume: EUR 6.2 million, including interest and agreed creditor haircut. A new investor structure enables project continuation toward construction readiness.
Key Terms (Overview)
Instrument: Private bond (ISIN tbd)
Total Volume: EUR 6,200,000 (single tranche)
Coupon: 8.9% p.a. (annual interest payment)
Equity Kicker: 20% hurdle
Term: 36 months (24 February 2026 – 26 February 2029)
Minimum Investment: EUR 100,000
Security: Second-rank land charge (Grundschuld)