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TND 85,647,000
🏌️ 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 15×7m, 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
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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 - STABILIZED YEAR
Annual revenue: €4,500,000
Breakdown by department:
Accommodation (60%): €2,700,000
Food & Beverage (24%): €1,080,000
MICE/Events (10%): €450,000
Spa & Wellness (4%): €180,000
Ancillary services (2%): €90,000
Performance indicators:
EBITDA: €1,350,000 (30% margin - segment excellence)
Operating income (EBIT): €900,000
Net income: €630,000 (14% net margin)
Operating cashflow: €1,080,000/year
Operating KPIs (top quartile standards):
Occupancy rate: 65% (vs. 60% Hamburg market)
ADR (average room rate): €140/night
RevPAR: €91/night (top Hamburg segment)
Break-even: 48% occupancy (27% safety margin)
💎 EXCEPTIONAL INVESTOR PROFITABILITY
Based on €5-8M equity acquisition post-construction:
Annual equity ROI: 13-18%
Annual distributable cashflow: €400,000 - 650,000
Payback period: 6-8 years
10-year IRR: 15-20%
Valuation after 5 years: €30-35M (income capitalization method)
Potential capital gain: +20-40% vs. acquisition price
Yield structure:
Current yield: 8-10%/year (operational cashflow)
Capital appreciation yield: 4-6%/year (asset valuation)
Total return: 13-18%/year
🌱 SUSTAINABLE CONSTRUCTION - ENERGY CLASS A
Exemplary environmental performance:
Energy Class A: 45 kWh/(sqm.year) → 75% less energy-intensive than standard
KfW Effizienzhaus 55 Certification (German excellence standard)
GEG 2020 Compliant (strict German energy law)
Carbon neutrality target: 2035
CO₂ emissions: 12 kg/sqm.year (vs. 50 kg standard = -76%)
Integrated green technologies:
Geothermal heat pump (60% heating/cooling needs)
Solar photovoltaic panels 150 sqm - 40 kWp (20% electrical needs)
Rainwater harvesting (irrigation, toilet flushing)
Reinforced high-performance insulation, argon triple glazing
Double-flow ventilation with heat recovery (90% efficiency)
100% LED lighting with smart building management
Zone-by-zone thermal regulation (consumption optimization)
Savings & financial benefits:
€60,000/year energy savings vs. standard construction
KfW subsidies available: up to €150,000 (Effizienzhaus)
"Green Hotel" label: +15% marketing attractiveness eco-responsible clients
Operating costs reduced 40%: EBITDA margin improvement
Regulatory sustainability: anticipation of 2030-2040 EU standards
📊 GROWTH MARKET - HAMBURG EUROPEAN ECONOMIC HUB
Hamburg in key figures:
Demographics & Economy:
1.9 million inhabitants (2nd German city after Berlin)
GDP/capita: €66,000 (top 5 German cities)
Unemployment rate: 6.2% (vs. 7.5% German average)
15,000+ international companies based
Port #1 Germany: 3rd European port (130M tons/year)
International connectivity:
Hamburg Airport: 17+ million passengers/year (pre-COVID: 17.3M)
130+ direct destinations (Europe, Middle East, USA)
Lufthansa, Emirates, British Airways hub
Highway access A1/A7: Berlin 2h30, Munich 6h, Copenhagen 4h
Dynamic hotel market:
13.5 million hotel nights/year (+4%/year growth 2015-2019)
Average 4-star occupancy: 62% (resilient premium segment)
Average 4 ADR: €130/night* (project positioned €140)
Hamburg: Top 3 MICE destinations Germany (after Berlin, Munich)
300+ international congresses/year
5 million MICE visitors/year
Messe Hamburg: 87,000 sqm event spaces
Premium golf market:
50,000+ licensed golfers Hamburg region
25 18-hole courses within 50 km radius
Golf Club Oberalster: 1,200 members (3-year waiting list)
Affluent average clientele: €100,000+ income/year
Golf penetration rate Germany: 0.7% population (vs. 2% USA = growth potential)
🎯 COMPETITIVE POSITIONING - DE FACTO MONOPOLY
Direct competition analysis:
✅ NO 4-star hotel directly on golf course in Hamburg
Competitors 4* north zone: 8-15 km from golf courses (no direct access)
Golf hotels Northern Germany: 40+ km Hamburg (Lübeck, Pinneberg)
High barriers to entry:
Ultra-rare golf land (established courses, no available land)
Golf Club authorization required (99-year exclusivity contract signed)
Building permit protected natural area (obtained after 3 years procedures)
Minimum investment €25M (natural competitor selection)
Sustainable competitive advantage:
Geographic monopoly 20+ years minimum (replication impossibility)
Captive Golf Club clientele: 1,200 members (20,000+ green fees/year visitors)
Strategic partnership: Golf Club co-promoter (mutual interest)
Premium pricing justified: +10-15% vs. competitors (unique experience)
🎯 INVESTMENT ARGUMENTS - TOP 10
1. 🏆 EXCEPTIONAL FINANCING ALREADY SECURED
70% pension fund senior debt secured (€17.5M at 4%)
30% mezzanine debt structured (€7.5M flexible)
Financing risk eliminated: investor enters on financed project
Unbeatable institutional conditions: 4% rate over 25 years
2. 💎 RARE ASSET - GEOGRAPHIC MONOPOLY
Only 4 hotel on golf in Hamburg*: zero competition
Insurmountable barrier to entry (land, permits)
Premium pricing guaranteed (+10-15% vs. market)
3. 📈 PROVEN TOP-QUARTILE PROFITABILITY
ROI 13-18%/year (vs. 8-10% hotel standard)
EBITDA 30% (vs. 25-28% segment)
Net margin 14% (vs. 10-12% standard)
Cashflow €1.08M/year from stabilized year
4. 🎯 TRIPLE REVENUE DIVERSIFICATION
Accommodation 60% + F&B 24% + MICE 10% + Spa 4% + Services 2%
No single customer dependence
Economic cycle resilience (business/leisure mix)
5. 🌍 DYNAMIC HAMBURG MARKET
+4%/year hotel nights growth (2015-2025)
Robust economic hub: €66,000 GDP/capita
17M+ airport passengers/year: international connectivity
Top 3 MICE Germany: 300+ congresses/year
6. 🏌️ STRATEGIC GOLF CLUB PARTNERSHIP
1,200 members captive customers (recurring revenue)
20,000+ visitor green fees/year (pass-through customers)
99-year exclusivity contract: secured ground lease
Co-promotion events: tournaments, corporate seminars
7. 🌱 SUSTAINABLE CONSTRUCTION - 40% SAVINGS
Energy Class A: -75% consumption vs. standard
€60,000/year OPEX energy savings
€150,000 subsidies (KfW Effizienzhaus)
"Green Hotel" marketing label: +15% customer attractiveness
8. 💰 STRONG ASSET VALUATION
+20-40% valuation 5 years (€30-35M stabilized value)
Income capitalization method: €630k net / 7.5% cap rate = €8.4M goodwill
Property value: €22M (construction + premium land)
Total market value 5 years: €30-35M
9. 🔒 LEGAL & TAX SECURITY GERMANY
Robust rule of law: foreign investor protection
Stable predictable taxation: 30% CIT (no retroactive risk)
Solid property rights: reliable cadastre, secured mortgages
Eurozone: no currency risk (EU investors)
10. 🚀 PHASE 2 EXTENSION POTENTIAL
4,543 sqm land: +2,000 sqm buildable land reserve
+50 rooms extension possible (capacity doubling)
Phase 2 ROI: 18-22% (economies of scale, established reputation)
€50M valuation option (150 rooms total)
📋 PRACTICAL INFORMATION
Location: Golf Club Oberalster, Wellingsbüttel, 22391 Hamburg, GermanyLand area: 4,543 sqmTotal built area (GFA): 5,400 sqmNumber of floors: G+3 (ground floor + 3 floors)Expected delivery: Q4 2026 / Q1 2027Project status: Building permit obtained, 100% structured financingHotel certification: 4-star DEHOGA (official German classification)Operations management: Selected professional operator (management contract)
Legal & tax framework:
Legal form: GmbH & Co. KG (equivalent to LLC/LLP)
Taxation: CIT 30% | VAT 19% (deductible investment)
Local taxes: Property tax ~€35,000/year
Depreciation regime: Straight-line 3% (building) + 10% (equipment)
📞 CONTACT PROCEDURE - PROFESSIONAL NETWORK
⚠️ PROJECT DISTRIBUTED VIA INTER-AGENCY NETWORK
This property is presented by a professional partner network respecting co-brokerage ethics.
For information requests:
Contact YOUR professional contact who shared this listing
They will coordinate contact with the exclusive agent
Absolute respect for co-brokerage chain (commission shared per APIMARKET agreement)
🔒 Confidentiality & Qualification:
NDA (Non-Disclosure Agreement) signature mandatory before transmitting complete documentation
Proof of funds required for site visit (€3M minimum ticket)
Investor profile: Institutional, Family Office, HNWI, Real Estate Fund
📦 Available documentation (post-NDA):
Detailed 120-page business plan (10-year financial projections)
3D architect plans + complete technical descriptions
Hamburg market study JLL (60 pages)
Golf Club partnership contracts (lease + commercial agreement)
Compliance certificates (permit, EPC, fire/accessibility standards)
Financing term sheets (pension fund + mezzanine)
Legal due diligence international law firm
Hotel operator letters of intent
💼 APIMARKET - NETWORK DISTRIBUTION
Inter-agency commission: Per APIMARKET agreementListing reference: APIMO-86686865-HAMBURG-GOLF-HOTELMandate: Exclusive professional networkMandate expires: 31/12/2024
🎯 INVESTOR SUMMARY - KEY POINTS
🏷️ ASSET PRICE : €25,000,000
💰 STRUCTURED FINANCING : 100% (70% senior + 30% mezzanine)
📊 ANNUAL REVENUE (stabilized) : €4,500,000
✅ EBITDA : €1,350,000 (30%)
💎 NET INCOME : €630,000 (14%)
🚀 INVESTOR ROI : 13-18%/year
⏱️ PAYBACK : 6-8 years
📈 10-YEAR IRR : 15-20%
🏆 5-YEAR VALUATION : €30-35M (+20-40%)
🌱 ENERGY CLASS : A (45 kWh/sqm.year)
🎯 MONOPOLY : Only 4* golf Hamburg
🔒 RISK : Low (financing secured, proven market)
« Secure institutional investment on rare premium income-generating asset. Hamburg, Golf & exceptional financial performance. »
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