GenoCrowd, a partnership between Raiffeisenbank im Hochtaunus and CrowdDesk, has announced its first securities offering for a property project in Leipzig.
GenoCrowd GmbH, a 100% subsidiary of CrowdDesk GmbH. Both GenoCrowd GmbH and CrowdDesk GmbH are companies that are independent of Raiffeisenbank im Hochtaunus eG. Raiffeisenbank cooperates with CrowdDesk on the investment crowdfunding platform each bringing their expertise to the table. Raiffeisenbank brings extensive expertise in real estate financing and network of industry professionals. CrowdDesk, founded in 2011, provides the tech stack and commercial services to operate the digital investment platform.
As for the first offering, it is for the Arthur-Hoffmann-Palais in Leipzig. The project is for the renovation of the property, by AS group, which is using the crowdinvesting platform.
Investors may participate in a subordinated loan of €250,000 with a 2 year term that pays a 5% interest rate. There is a €250 minimum to participate.
The AS group of companies was founded by Andreas Schrobback in Berlin in 2003 and now has locations in Frankfurt am Main, Leipzig, Cologne, and Magdeburg. The group concentrates on the renovation of historic buildings and the subsequent marketing.
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