Fiduciam

Fiduciam sets €50m lending target in Germany




Fiduciam has revealed its plans to lend €50m (£41.4m) in Germany this year.

This comes as the lender noticed a marked increase in enquiries for German loans through brokers based in Germany and the UK, mainly to assist with acquisitions of commercial and residential real estate, as well as land.

While Fiduciam has an office in Frankfurt to ensure market proximity, it estimates that around 50% of loan enquiries have been submitted via UK intermediaries since the lender entered the German market.

An important number of the loan requests have also involved UK acquirors, often larger commercial real estate operators.

Fiduciam’s German proposition offers loans from €2m (£1.65m) to €25m (£20.7m) on terms between six months and three years. 

Interest rates start at 0.60% pm and LTVs up to 70% are available.

The specialist lender has already completed two facilities in February totalling €3.25m (£2.69m) — including a €2.5m (£2.07m) loan for the acquisition of a historic and listed building in Alfeld, which allowed the client to obtain planning permission required to renovate, upgrade and expand the property.

In addition, its current pipeline includes a further €11.2m (£9.27m) of German facilities due to be completed in March.

Marieke Eskens, head of case management at Fiduciam, who underwrites all German loans, said: “The German secured lending business entails a number of peculiarities, which we can handle efficiently with our platform.  

“We are able to provide loans within 10 business days from application to drawdown, as we demonstrated last year.”

Henrik Takkenberg, co-founder of Fiduciam (pictured above), added: “We are very happy to see strong demand for our German bridging product since the end of the pandemic.  

“Our ability to provide acquisition finance for projects where tight time deadlines need to be respected, and where first a transformation project needs to be worked out or a track record established before bank finance becomes available, fills a void in the market.”

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