Hamburg, Hamburg

? Unique Institutional Opportunity - 4-Star Golf Hotel - HAMBURG Exceptional hotel project: construction of a premium 4-star hotel with 100 rooms in the heart of the prestigious Golf Club Oberalster, Hamburg, Germany. ? Concept & Unique POSITIONING Geographic monopoly: Only 4-star hotel directly on golf course in Hamburg Premium environment: Historic golf club (1906) - 1,200 members Exceptional accessibility: 5 km international airport (17M+ passengers/year), 12 km Hamburg city center Exceptional natural setting: Alster waterfront, upscale Wellingsbüttel residential area Balanced customer mix: Business (40%), Leisure-Golf (35%), MICE-Events (25%) ? Premium Asset - Complete CHARACTERISTICS Accommodation (3,000 sqm): 100 air-conditioned rooms (30-45 sqm): 70 standard | 20 superior | 10 suites Contemporary understated-elegant design, natural noble materials Premium amenities: Satellite Tv, fiber Wi-Fi, minibar, safe, balcony/terrace (80%) Golf/nature view for 100% of rooms Restaurant & Bar (800 sqm): Gourmet restaurant 100 seats (regional & international cuisine) Lounge bar with fireplace 60 seats Panoramic terrace 80 seats (18th hole view) Wine cellar 300 references, semi-open kitchen Spa & Wellness (600 sqm): Heated indoor pool 157m, 8-seat jacuzzi Finnish sauna, hammam, professional treatment cabins Fitness room 80 sqm (latest generation Technogym equipment) Relaxation area with nature view Professional Mice Center (400 sqm): Modular plenary hall 200 people 4 meeting rooms 10-50 people Latest generation audiovisual equipment Cocktail foyer 100 sqm, outdoor event terrace Services & Infrastructure: 24/7 reception, premium concierge, room service Secure parking 120 spaces (including 20 Ev charging stations) Privileged golf access (practice, putting green, member preferential rates) Integrated professional laundry, compliant technical facilities Total land: 4,543 sqm (Phase 2 extension reserve) ? Financial Structure - Institutional Opportunity Total Investment: 25,000,000 Breakdown: Construction & Fit-Out: 21,500,000 Ff&E Equipment (furniture, bedding, kitchen): 2,500,000 Initial Working Capital: 1,000,000 ? Exceptional Structured Financing - 100% Secured 70% Institutional Senior Debt: 17,500,000 European Pension Fund - Firm AGREEMENT Guaranteed amount: 17,500,000 (70% project) Fixed interest rate: 4.0% per annum (institutional conditions) Term: 25 years (bullet repayment) Type: Secured senior loan (1st rank mortgage) Guarantees: Land mortgage + hotel asset, operating pledge Status: Financing approved subject to 30% equity Exceptional advantages: Institutional preferential rate (vs. 5-6% commercial market) Long 25-year term (cashflow security) No capital repayment early years (structuring possible) Stable financial partner (8bn assets pension fund) 30% Mezzanine Debt: 7,500,000 Optimized Flexible STRUCTURE Amount: 7,500,000 (30% project) Nominal rate: 8.0% per annum Term: 3 years (refinancing planned end year 3) Interest structure: Years 1-3: Capitalized interest (no cash outflow) From year 4 (after refinancing): Interest-only 4.5%/year Guarantees: 2nd rank mortgage, subordination to senior debt Exit strategy: Classic bank refinancing after 3 years operation (established performance history) Investor liquidity protection: No repayment pressure during ramp-up phase Cashflow preserved for operations optimization Reduced financial burden post-refinancing ? Unique Financial Equation No Investor Contribution Required During Construction PHASE Senior Debt (Pension Fund) : 17,500,000 (70%) SECURED Mezzanine Debt : 7,500,000 (30%) Structured Total Financing Secured : 25,000,000 (100%) Investor enters equity After construction, on income-generating asset. Post-delivery acquisition opportunity: Project shares acquisition: 5,000,000 - 8,000,000 (depending on structuring) Equity yield: 13-18% per annum (depending on leverage) Entry on operational asset (construction risk eliminated) Immediate cashflow from acquisition ? Projected Results - S