Real estate crowdfunding platform GenoCrowd has launched the fourth projectwith the AS Group of companies.
The AS Group is a real estate investor, investment manager, and developer based in Berlin with subsidiaries in Hamburg, Leipzig, Magdeburg, Cologne, and Frankfurt am Main. The company focuses on residential opportunities and specializes in renovations, especially for historically significant buildings.
Andreas Schrobback, founder and Managing Director of the AS group, said they have already been able to list three securities offerings on GenoCrowd, this being the fourth. The securities are subordinated debt, and each was fully funded.
Our last project was completed within just a few days, said Schrobback. It was “fully placed in just a few days and was extremely popular with investors.”
The current project is located on Eisenbahnstrasse in Leipzig and is a four-story apartment building that was built around 1870. The project will be mixed use and will incorporate several dining options and retail shops.
The securities offering is now available on GenoCrowd. The offering seeks €270,000, with investors expected to receive a return of 8.75% p.a. There is also an early bird bonus of 0.5% over the entire project for anyone who invests by May 28, 2024.
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