Leidsekruisstraat Amsterdam II

First mortgage right and a loan-to-value ratio of 63%

With this proposition, you are investing in a hospitality location in the centre of Amsterdam and several properties in the same region. The intended term of this proposition is 36 months and the fixed interest rate is 7.5% per annum. The first phase of the proposition has already been successfully placed and is in operation. As an investor, you will receive a first mortgage and pledge of the rental income as security. The loan-to-value of the underlying value is 63%.

The catering location is in the heart of Amsterdam, a short distance from Leidseplein. This property has been leased to a restaurant for many years. The second property consists of 25 hotel rooms in a long-term leased hotel building, 8 kilometres from the centre of Amsterdam. As additional security, two single-family homes in Amsterdam and Almere are also part of the underlying value.

The loan is being granted to the project owner to repay the current bank loan and partially release the surplus value. The collateral has been owned by an affiliated company of the initiator for some time and is being successfully operated.

Key features of this proposition:

Fixed interest rate of 7.5% per annum;
Targeted term of 36 months;
First mortgage right;
Pledge of rental income;
Loan-to-value ratio of 63%;
Occupancy rate of 100%;
Diversified portfolio in the Amsterdam Metropolitan Area;
Excellent state of maintenance;
Experienced project owner;
Monthly payment;
Immediately interest-bearing from deposit;
One-off brokerage fee of 0.45%.

Projected return

The graph below shows the cumulative return over the term at a fixed interest rate of 7.5% per annum. In the example below, a deposit of €5,000 will yield a total of €1,125 in interest over the entire term of the proposition. The first and accrued interest will be paid in the month following the conclusion of the proposition. You will then receive the fixed interest amount monthly in arrears. At the end of the intended term, you will be repaid through refinancing or sale of the property. The presented return forecast is based on expected market conditions and project planning. There is no guarantee that these results will actually be achieved.

Cumulative return during the funding period

Investment	€5,000
Fixed interest	7,5%
Estimated duration	36 months
Total return	€1,125.00

Crowdrealestate valuation

Crowdrealestate has assigned this investment a risk rating of A (Defensive). Partly due to the first mortgage with sufficient equity, the full occupancy rate and the favourable location in the Amsterdam Metropolitan Area, this is a stable and solid investment. Although this investment is considered defensive, investing through crowdfunding always involves risks, including the risk that you may lose your entire investment. Please refer to the Essential Investment Information (EBi) sheet for a detailed description of the risks.

A

23 22 21

B

20 19 18

C

17 16 15

D

14 13 12

E

11 10 9

Mortgage right	Crowdrealestate investors receive the first mortgage right.	5 points
Loan-to-value	The loan-to-value ratio based on the appraised market value in its current condition is 63%.	2 points
Match location with sector	The central location of the property is well suited to the needs of the tenants and stable demand for the proposition.	3 points
Occupancy rate	The properties are fully let.	3 points
Project phase	The project concerns existing buildings, which entails fewer risks compared to projects in the development phase.	3 points
Trackrecord	The initiator has owned the property for quite some time.	3 points
Duration	The intended duration is 36 months.	3 points
Additional security	Pledging of rental income.	1 points
Total		23 points

Funding structure

The loan is provided to the project owner for the refinancing of the current bank loan and the partial release of the surplus value. The threshold amount for this proposition is €500,000 and the target amount has been set at €5,000,000. The threshold amount for this proposition was successfully achieved in the first phase. As an investor, you will receive a first mortgage right and a pledge of the rental income as security on all properties.

The catering property in the centre of Amsterdam was valued in October 2024 at a market value in its current state of €940,000. The 25 hotel rooms on the third floor and part of the fifth floor of an aparthotel in Amstelveen have been jointly valued at a market value of approximately €6,740,000. In addition, there is a first mortgage right established on 50% of two homes in Amsterdam and Almere with a market value of €310,000.

The total market value of the underlying properties is therefore approximately €7,990,000. Based on the maximum principal amount of the loan of €5,000,000, the surplus value is €2,990,000, resulting in a loan-to-value ratio of 63%. The underlying value of the mortgage registration is therefore more than sufficient to cover the loan.

The securities for the benefit of the investors are registered in the name of Crowdrealestate's independent foundation. The foundation initially obtains a second mortgage right, which will become a first mortgage right after the planned repayment and cancellation. In addition to the mortgage right, additional securities apply, such as a rental pledge and a DSCR and LTV covenant. A complete overview of all applicable covenants and securities is included in the parallel debt agreement.

Investors Crowdrealestate	€5,000,000	First mortgage right
Surplus value	€2,990,000
Total scale	€7,990,000

Project description

The first property is a catering establishment on Leidsekruisstraat in Amsterdam. The building is a listed monument dating from 1905, with approximately 120 m² of lettable floor space, divided between a catering establishment on the ground floor and associated space on the first floor. Thanks to its location near Leidseplein and the tourist heart of Amsterdam, this property has strong lettability.

The second property consists of 25 hotel rooms, located on the third and partly fifth floors of a hotel building in Amstelveen, in a strategic location close to both the centre of Amsterdam and Schiphol Airport. This location makes the hotel attractive to both tourists and business travellers. The location is easily accessible via the A9 and A10 motorways, as well as by public transport. The entire hotel complex comprises 151 apartments and studios, which are operated by a renowned hotel operator.

The hotel offers extensive facilities, such as a fitness room and a dry cleaning service for guests. The reception is open 24 hours a day and there is a parking garage on site that is easily accessible to hotel guests. The total plot area of the hotel, including the adjacent

The central location in Amstelveen, close to Schiphol Airport and Amsterdam, makes the hotel an attractive destination for international guests and business travellers looking for comfortable accommodation close to major transport routes and urban centres.

In addition, two fully let single-family homes in Amsterdam and Almere form part of the underlying value. These properties serve as additional collateral for the proposition and contribute to extra diversification within the underlying value.

Market description

The hotel market in Amstelveen benefits greatly from its proximity to Amsterdam and Schiphol Airport. Due to the limited availability of new hotel developments in Amsterdam, investors and operators are shifting their focus to surrounding cities such as Amstelveen, where there is more room for growth. This strategic location makes Amstelveen attractive to both business travellers and tourists, contributing to high occupancy rates.

In 2023 and 2024, the hotel market in the Netherlands will have further recovered from the impact of the pandemic, with occupancy rates returning to pre-pandemic levels. In the Amsterdam region, which includes Amstelveen, occupancy rates have risen significantly and high demand for hotel rooms is expected, particularly due to the increased flow of tourists and the recovery of business travel.

Occupancy rates in hotels in and around Amsterdam, including Amstelveen, are now back at or above pre-2020 levels. This is partly stimulated by the limited expansion of hotels in Amsterdam itself, which is attracting investors to nearby cities such as Amstelveen. As a result, demand for accommodation in this region remains high, contributing to stable rental income and an attractive investment climate for hotel projects.

The hospitality market around Leidsekruisstraat in Amsterdam is developing very positively, driven by a constant stream of tourists and nightlife revellers. Although entrepreneurs are facing rising costs and staff shortages, the demand for contemporary hospitality concepts remains high. Fast-casual and experience-oriented concepts are particularly successful in this location. The municipality supports the sector with a renewed hospitality policy that offers more space for terraces and customisation per area, providing greater clarity and flexibility. Despite pressure on margins, the city centre remains attractive to investors and entrepreneurs thanks to high footfall and low vacancy rates.

The Amsterdam housing market continues to show resilience with a positive outlook for 2024, especially for rental properties. Strong demand for rental properties is supported by a growing economy and high employment levels. Analysts at CBRE and Rabobank predict a stable to slightly rising trend in rents for the coming period. With average rents remaining in line with growing demand, occupancy rates are likely to remain high and values to increase further.

The housing market in Almere continues to develop strongly, with positive prospects for 2025, particularly in the rental segment. Sustained demand is reinforced by population growth, limited availability of social housing and the strategic location near Amsterdam. There is increasing scarcity and rising rents, particularly in the mid-range rental market. The owner-occupied market is also showing strong price increases, partly due to a structural shortage of housing and lagging new-build production. The high occupancy rate of rental properties contributes to stable income and value growth, while the vacant value of homes is significantly higher than the rental value, which offers interesting opportunities for future sales.

End user

The catering establishment on Leidsekruisstraat in Amsterdam is fully let. The commercial space is used as a restaurant and the upper floor is used by the tenant as a support area. The total annual rental income is approximately €37,500. The market rent has been set at approximately €40,000 per year.

The 25 hotel rooms have been operated by Adagio, part of the Borealis Hotel Group, since 2018. Adagio has a long-term lease that runs until 2043, ensuring stable rental income. Adagio focuses on offering extended stay hotels, which are popular with both business travellers and tourists looking for flexibility and comfort.

The Borealis Hotel Group is a fast-growing European hotel chain that develops, owns, operates and manages various types of hotels. Its portfolio includes focus-service, full-service hotels and extended stay hotels such as Adagio. The group was founded in 1997 and has since built up a strong position in the hospitality sector.

In addition, the two single-family homes in Amsterdam and Almere generate combined rental income of approximately €36,500 per year, already adjusted in line with current rental legislation.

Underlying organisation

The loan is being granted to project owner Appel 26 B.V. for the refinancing of the property. This loan will be used to repay the current bank loan and partially release the surplus value. The initiator will use this surplus value to expand the property portfolio.

The initiator has been managing the properties for some time and has proven to be successful in operating a carefully constructed and diversified property portfolio, consisting of both residential and commercial properties.

Supplementary files

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EBi - Leidsekruisstraat Amsterdam II	Download

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