re-nxt invest

Property & project presentation

A new chapter is beginning for Neubaugasse 70 in the 7th district of Vienna. The Gründerzeit building from 1863 is set to preserve its historical character while being further developed for modern living. Its location on one of Vienna's well-known shopping streets brings public transport, gastronomy, retail, and urban life right to the doorstep.

The focus of the project is the revitalization of the existing building and the addition of a rooftop extension. Upon completion, the project will comprise 28 apartments, two commercial units, and two studios, one on the ground floor and another on the first floor. Of these, 21 apartments will be created in the modernized existing building and seven new apartments in the rooftop extension.

The plan is to create well-designed, contemporary apartments for people who want to live centrally in Vienna. At the same time, the project also targets buyers who wish to invest in inner-city housing. The apartments are intended to be sold individually.

In addition to modernizing the apartments, the building itself will also be further developed. Plans include improving thermal insulation and switching heating and hot water to an air-source heat pump combined with deep drilling. This is intended to energetically upgrade the existing old building and adapt it technically to today's requirements.

The rooftop extension is particularly noteworthy: seven additional apartments will be created here without developing new land. This makes better use of existing space and adds additional living space in a central location.

Project status

The project has already achieved important milestones. The property has been acquired and fully transferred to the project company. The acquisition from insolvency has been legally approved and registered in the land register. This clarifies the ownership situation.

The legally binding building permit is already in place. Currently, further execution planning is being prepared. Additionally, adjustments to the already approved plans are planned to better utilize the space in the existing building and the rooftop. Approval for this is still pending and is expected during the course of the project implementation.

The financing of the project is fundamentally structured. There are loan agreements with the financing bank as well as shareholder loans from the project partners. The funds raised via Invesdor are intended to complement this structure and be passed on to the project company as an equity substitute in the form of a shareholder loan. This is intended to create the conditions for the transition from planning to construction.

The start of construction is planned for the end of 2026. The construction period is currently estimated at around two years, with completion planned for the end of 2028. The apartments are then expected to be sold individually, predominantly around the time of completion and thereafter.

From an investor perspective, it is important to note: Some of the early project risks have already been reduced. Acquisition and the existing building permit are completed or secured. However, typical risks of a real estate project remain. These include, in particular, construction costs, the project timeline, the development of the real estate market, as well as the speed and price level of the later sale of the apartments. 

In preparing the building for the construction phase, essential steps have already been implemented. Most of the apartments are already vacant or will soon be vacated. For the remaining apartments, termination agreements are currently being concluded and replacement housing is being sought. An experienced asset manager is accompanying this process. This has created important prerequisites for the planned start of construction.

Whether the project can be implemented as planned therefore depends primarily on the further construction progress and the subsequent marketing of the apartments.

Location & Site Analysis

Project Developer

Developing existing buildings requires an eye for their potential and the experience to turn it into a feasible project. Behind Neubaugasse 70 are the re-nxt invest GmbH based in Vienna as the investment company and the Neubaugasse 70 Development GmbH as the project company, as well as the development platform nxt real estate. The Neubaugasse 70 Development GmbH holds the property as the asset company.

The team's focus is on inner-city developments in the residential and building stock in sought-after locations. This includes upgrading historic structures, creating additional living space through revitalization, and preparing buildings for a new phase of use.

Dr. Andreas Köttl and Walter Hammertinger combine strategic and financial management with operational project development.

Investment Logic & Repayment Mechanism

Business Case & Sales Proceeds

The economic perspective lies in the individual sale of the modernized existing apartments and the new penthouse apartments. The planned investment costs of approximately €19.17 million, including the costs of this bond, are offset by estimated sales proceeds of around €21.2 million.

This results in a planned project surplus of approximately €2.1 million in the base scenario, equivalent to about 10.4% of the investment costs.

Possible exit scenarios

Base Scenario: Individual Sale: In the base scenario, the apartments are sold individually to owner-occupiers and investors. The proceeds will first be used to repay the bank financing. The subsequently available funds are intended to cover the interest payments and the repayment of the bond.

Alternative Scenario: Delayed Sale / Interim Letting: If marketing takes longer or sales prices fall short of expectations, the repayment may also be delayed. Temporary letting of individual apartments can generate income but does not automatically replace the required sales proceeds.

The described scenarios represent possible outcomes from today’s perspective. Whether and under what conditions sales will actually take place depends on further market and cost developments, as well as demand for owner-occupied apartments at the time of sale, and cannot be guaranteed.

Payment Flow

Back to top ▲

For this financing round, the following security is provided: The re-nxt invest GmbH assigns its current and future repayment claims from a shareholder loan amounting to 1,312,500 EUR, including interest and ancillary claims, to the Invesdor Collect GmbH as security trustee for the investors. The security thus consists of loan receivables against the project company and not in a direct security interest in the property or its rental income and sales proceeds.

The value of the security depends in particular on the economic capacity of the project company. If the project company cannot repay the loan in full or in part, the security may also lose value.

Detailed information on the securities can be found in the Key Investor Information Sheet (KIIS) in the document section of this financing round.

Simplified risk summary

Investments in bonds are associated with very high risks. You may lose part or all of your invested capital.

The following text contains a brief and highly simplified overview of selected risks of an investment in the project.

This overview is not complete and does not replace the detailed description of the risks in the Key Investor Information Sheet (KIIS).

Before you invest, you must read and carefully review the KIIS in full and check whether you understand and can bear all the risks described therein.

In the event of discrepancies between this summary and the KIIS, the KIIS shall be authoritative.

Key Risk Areas (Brief Overview)

Project and Implementation Risks:
The renovation and attic conversion may incur higher costs or take longer than planned. Issues during construction, shortages of materials or skilled labor, weather influences, delays in tenant move-out, as well as changes to the construction plans or required permits can lead to project delays. There is currently no fixed-price contract with the general contractor. The successful implementation of the project also depends on a limited number of key personnel and on the project company being able to fulfill its financial obligations to the project developer, particularly from the shareholder loan.

Market, Sector, and Default Risks:
The planned sales of residential and commercial units may be delayed, fail to materialize, or only be achieved at lower prices than intended. The construction and real estate sector can be adversely affected by shortages of materials and skilled labor, changes in the interest rate environment, the general economic development, as well as legal and regulatory changes. The project developer was only recently founded and therefore has only a limited financial history. In the event of insufficient cash flow or in the case of insolvency of the project developer or the project company, interest and repayments may be delayed, only partially made, or not made at all. The security consists of assigned claims from a shareholder loan against the project company. Investors thereby do not receive direct security rights to the property. The value of the security depends in particular on whether the project company can repay the loan. Since the bank financing is serviced as a priority, there is a risk that the security may not achieve sufficient proceeds in the event of economic difficulties or insolvency.

Return, Platform, and Liquidity Risks:
The return may be lower than expected, delayed, or fail to materialize entirely. Inflation, cost increases, and the individual tax situation can additionally reduce the achievable return. If the platform is temporarily or permanently unavailable or ceases its business operations, communication as well as interest and repayments may be delayed. However, the contractual claims against the project developer remain unaffected. The bonds have a fixed term and generally cannot be ordinarily terminated during this period. Currently, there is neither stock exchange trading nor a liquid secondary market. Investors may therefore be forced to hold the bonds until the end of the term or sell them only at a financial loss.

Investor Rights and Technology Risks:
Bondholders have no voting, participation, or co-determination rights and cannot influence either the business activities of the project developer or the use of the funds raised. A majority of bondholders can decide on changes to the bond terms that may be disadvantageous for individual investors. Technical errors, cyberattacks, or failures of the electronic securities register, the digital safe deposit box, or the custody solution can impair or prevent access to the electronic securities or their transfer and, in the worst case, lead to their irretrievable loss.

A complete and detailed description of all risk factors can be found exclusively in the KIIS in the document section of this financing round.

UPDATE of 14.10.2026: How does a target-price contract shape construction costs for your investment?

The contract with the designated general contractor for the refurbishment and rooftop extension is in the final stages of negotiation. The contract is planned as a target-price agreement and is expected to be signed before the end of 2026.

A target-price agreement differs from a fixed-price contract. The parties agree a target cost for the works, and cost deviations are handled under rules agreed in advance between them. The aim is greater cost transparency and planning certainty.

In real estate projects, construction costs are typically the largest cost item. Any cost overrun would reduce the project's financial buffer and could affect the funds available for repaying the bond. The agreement therefore matters directly to your investment.

The investment round closes on 29 October 2026, before signing is expected. The outcome of the negotiations will therefore not be known when you decide to invest. We will explain the impact of the final terms once the agreement is signed.