According to EstateGuru, the first German project is in Sindelfingen, which is close to Stuttgart, and the borrower is an Estonian company called EK KV SPV3 OÜ.
While this is the first loan offered in Germany, the borrower has taken a loan from EstateGuru before, with the previous loan being issued in April 2019 to finance the purchase of a printing factory located in Finland.
EstateGuru also reported that the borrower has experience in developing several retail centers and managing different commercial real estate. It also has more than a decade of experience in M&A and restructuring in the Baltics and Scandinavia. Representative of the borrower owns, along with EK KV OÜ group, a 27,000 sqm industrial property in Mikkeli, Finland and, with the EK Invest OÜ holding company, two printing factories in Germany. Speaking about the project, Marek Pärtel, Co-Founder & CEO of EstateGuru, stated:
“This is one of the most important milestones we have achieved to date as Germany is the biggest market with the most potential for EstateGuru to expand its operations. Although the biggest investor pool – 11 000 out of 45 000 – already comes from Germany, EstateGuru hasn’t financed any projects in this lucrative real estate market until now. "
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