Experienced investor considered ‘Individual stories’ and reached yet high yields Neubiberg, 05.10.2011. The business is not really known. And yet a billion dollar market, in which many German and international banks move. The speech is of non-performing loans (NPL’s), so performance-impaired loans that make creating banks for many years. They want banks as quickly as possible from their balance sheets, write it off, and then offer them in a particular market segment to extremely favourable conditions. “The buyers of these loans were usually called” locusts in the past”, the tried, the best to make the respective treaties. This picture has changed dramatically, because at least we try to fulfil our social obligation and socially responsible manner to resolve the contracts”, explains Karsten Dairek Keune as Managing Director of NPL investor GmbH & co. First KG.
Still, high margins are in this business to achieve the implementation of an as Allow investment to refinance. The range of funds that is recently in the placement, has a volume of 25 million euro. A participation is possible from 10,000 euros plus five per cent premium. Placement should be completed at the end of next year at the latest. The variable and selectable Fund maturities are particularly interesting. These are between four and ten years after closure. We are searching for the demand of many customers do the a reasonable investment horizon,”, explains Managing Director of NPL Keune.
As more funds, a private placement and a savings fund are tight before the completion and approval. Basically sees the Fund concept of NPL investor GmbH & co. First KG the reinvestment of profits before. However, it is possible to remove the 40 percent of the profits. Internally, the Fund management calculated depending on of the runtimes with yields between 10 and 15 percent. A very conservative approach, which leaves room for us to the top, “where we look largely to secured loans focus”, Keune said. This refers to such loans, which are secured, so exercised mainly with real estate. While a win situation arises from the resolution of performance-impaired loans in real implementation for all involved. Banks get more leeway on refinancing (keyword: Basel 3) through the sale. The debtor through a partially remaining debts the chance unencumbered to start, then there are no further claims. And the Fund has the opportunity to achieve the corresponding profit for investors at reasonable purchase prices. The management places special importance on the equitable resolution of performance-impaired loans. This close cooperation with the Garden City society Hellerau AG, founded in 1908 and their professionals as servicing partners takes place.continue reading
A widely represented considers that it would have been but required in the context of forecasting, to make provision for the expenditure incurred when tenants change through to kalkulierende provisions. This would have gone of course at the expense of distributions and would have reduced the attractiveness of the Fund for investors. Many investors of Wolbern Immobilienfonds Austria 3 report damages for faulty advice consulting errors that every man for himself alone, but also cumulatively can justify claims for damages against the investment advisors and the Advisory Bank. Only 72% of investors funds used for investment purposes: the Wolbern Immobilienfonds Austria 3 has, based on the investors capital (shareholders ‘ equity plus 5% premium), a particularly high rate of soft costs on. According to our calculation, it was 28%. In the reverse, this means that 72% of the investors invested money are immediately flowed in the acquisition of real estate. Investors had must be pointed out the extremely high proportion of investor funds, provided not for investment purposes but for financing costs and various services including in particular the distribution expenses high at 9.5%, specifically by their advisors. In known cases, this was not the case.
Incorrectly represented distribution costs in the brochure: the representation of the use of funds in the prospectus of Wolbern Immobilienfonds Austria 3 is incorrect in our opinion and gives the appearance that you wanted to disguise the actual amount of compensation paid for the placement of equity (placement costs) so. Credit: Ed Bastian-2011. Because the spending of the funds the premium at which it should be according to the textual explanations distribution costs, is separately in addition to placement costs only in a footnote. Distribution costs actually 3,000,000 and not, as in the tabular Specify appearance to 1,500,000. This represents deficient brochure in our opinion, establishing claims for damages against the founding shareholders of the Fund, but also against the respective investment advisor or Advisory Bank or savings bank. Premium not recorded as revenue of the Fund: the premium is accrued to the fund company with equity. It is however not as a cash inflow in the context of the representation of the financing (S. 27 of the prospectus).
This represents our opinion to a prospectus errors. Inadequate representation of the Terminal rental risks. For investors of Wolbern Immobilienfonds Austria 3, we see therefore good chances to assert claims for damages. There is however due to the absolute Statute of limitations of 10 years. Investors should be contact as soon as possible a savvy lawyer specializing in banking law and capital market law and check her claims. Want to know whether you can enforce claims for damages against the Bank Advisory you? Call me, let me help You like to. Nittel Firm specializing in banking and capital market law your contact Tino Ebermann, lawyer specializing in banking law and capital market law Heidelberg: Hans-Bockler-Strasse 2 A, 69115 Heidelberg phone: 06221 915770 Fax: 06221 9157729 Munich: residential street 25, 80333 Munich Tel.: 089 25549850 Fax: 089 25549855continue reading