Marketing content

FOX Living - apartments Braunschweig

Partial refinancing the land acquisition and project development of a modern, energy-efficient real estate project with 189 furnished apartments in a central location in Braunschweig (Germany), just a few minutes' walk from the Technical University.

Investment information

Days to invest:
15
Investing round ends:
23/07/2026
Type:
Bond
Subordinated:
no
Invested so far:
€694,250.00
Price per bond:
€250.00
Transaction costs:
0.50 %
Min offer:
1 Unit
Maximum issue size:
€1,530,000
in 6,120 Units
Interest:
quarterly
Repayment:
bullet
ISIN:
DE000A46ZZW6
Broker:
Oneplanetcrowd International B.V
License:
ECSPR

Why invest in FOX Living - apartments Braunschweig

01

High demand due to housing shortage

According to market data, Braunschweig has a residential vacancy rate of below 1.5 % and is therefore considered a significantly strained housing market. For a new apartment development, this is an important indication of generally high demand for housing.

02

Large student base and micro-location close to the Technical University

More than 80,000 people study in the Hannover–Braunschweig–Göttingen–Wolfsburg metropolitan region, including around 15,650 at the Technical University (TU) Braunschweig. The location is within walking distance of the university and specifically targets students, trainees and young professionals.

03

Specialised developer for student housing

FOX Living, part of the FOX Group, focuses on residential complexes and modern housing concepts specifically designed for students and young professionals. This specialisation in apartments for students and young professionals is relevant for the planning, construction and later management of the project.

04

Particularly energy-efficient new-build in innovative modular construction

The plan is to build a particularly energy-efficient new building with 189 fully furnished apartments using modular construction by Max Bögl. The combination of an energy-efficient standard, prefabricated fully enclosed components and planned barrier-free access underlines the project's highly efficient and sustainability-oriented approach.

05

Structured capital base with equity from the project developer

The project is financed through bank financing and an equity contribution from the project developer amounting to around 21% of project costs. The bond offered via Invesdor serves as an additional financing component for the land acquisition and project development.

06

Transparent two-phase financing

This first tranche of the bond offered via Invesdor refinances the land acquisition and project development of the planned property partially. A second, separate tranche with its own terms is planned for the building construction phase and is expected to be offered separately at a later date. Investors in this round are expected to receive early access to invest in the second tranche.

Overview

Object visualisation

Property and project overview

The market for student housing in Braunschweig is very tight. In addition to student union residences, there are only a few furnished and unfurnished one-room apartments. Private providers specifically targeting students are barely represented.

Single apartments offered by the student union are fully booked for several semesters. Only about 15% of students can live there because supply is so limited. International students in particular often find it difficult to find accommodation on the open market.

In addition, demand for compact housing is increasing among Young Professionals, Research and teaching staff of TU Braunschweig as well as employees of large companies such as Volkswagen, VWFS AG or Siemens Mobility.

FOX Living is planning a new building at Lampadiusring 8 in 38106 Braunschweig with a total of 189 apartments for students and young professionals. The apartments are fully furnished and designed as compact, easy-to-use living spaces.

Each apartment includes its own kitchenette and a work area with a desk, chair and easily accessible power sockets. The building is planned to be fully accessible, so all apartments and shared areas will be step-free. This makes it suitable for people with limited mobility.

The building is planned to meet a strict German energy efficiency standard* and will be built using modular construction by Max Bögl. This means that most of the apartments will be prefabricated in a factory and then assembled on site.

The project also includes the following shared areas:

  • Study lounge with spaces for group and individual study
  • Two large shared roof terraces with outdoor furniture and greenery,
  • Landscaped garden / courtyard with a table tennis table and benches,
  • Laundry room with washing machines and dryers for the residents.

A photovoltaic system is planned on the roof. The underground car park will offer 24 parking spaces. In total, around 3,992.97 m² of living space is planned, with an average of about 21.13 m² per apartment. The location in a newly developed quarter close to the Technical University of Braunschweig supports this modern housing concept for students and young professionals at the start of their careers.

*Energy-efficient new build (EH‑55 standard): The building is designed to use only about 55% of the energy of a comparable conventional new building, resulting in significantly lower heating and energy costs.

Project status

The following project timeline describes the planned course of the overall project – from the purchase of the land, through the building permit and construction phase, to completion, letting and a possible sale of the property. The purchase agreement for the land has already been signed and the building application was submitted in April 2026. Draft contracts from the financing bank are available, and final credit approval has been granted.

Next, the full building permit is to be granted. This will be followed by the construction phase using a highly efficient modular construction method. Afterwards, completion with the start of letting, as well as the intended sale of the property, are planned.

With each milestone reached, certain project-specific risks can decrease; at the same time, market, construction and financing risks remain. The schedule refers to the progress of the real estate project as a whole and not to the term of the bond offered here. The terms of the bond, including the planned term of 2 years and the planned repayment, are set out in the Key Investment Information Sheet (KIIS) and in the bond terms.

✓
Land purchase agreement
07/2025
✓
Building application submitted
04/2026
✓
Financing secured
Status Q2 2026
○
Building permit
expected by Q4 2026
○
Construction phase (modules)
Q4 2026–Q3 2027
○
Completion & letting
planned Q3 2027
€
Sale of the property
expected by 07/2028

Location and site analysis

location

Macro location

The project is located in the city of Braunschweig in the federal state of Lower Saxony. Braunschweig is part of the Hanover–Braunschweig–Göttingen–Wolfsburg metropolitan region and is therefore one of the most important urban areas in northern Germany.

The region is both a strong university and residential location and an important business location with industry, research institutions and service companies. This mix creates constant demand for housing for students, trainees and working professionals.

Braunschweig has good transport connections. Motorways and main roads link the city to the surrounding metropolitan areas, especially towards Hanover and Wolfsburg. Braunschweig’s main railway station offers regional and long-distance connections, and key hubs such as Hanover with its long-distance station and airport can be reached within a convenient travel time.

For the housing market, Braunschweig’s classification by the city as a “severely strained housing market” is important: according to the vacancy index, the residential vacancy rate is below 1.5 % and therefore clearly under the “healthy” level of around 3–5 %. This indicates a persistently high demand for housing in the city.

In the metropolitan region, more than 80,000 students are enrolled, of which around 15,650 study at the Technical University of Braunschweig. In addition to students, trainees, young professionals and commuters are also important target groups in the housing market. For a concept focused on smaller, furnished apartments such as FOX Living - Apartments Braunschweig, this results in a broad base of potential tenants.

Micro location

The project is located at Lampadiusring 8 in the new development area in the northern part of Braunschweig. The immediate surroundings are mainly residential and are part of a district that is still being developed, with predominantly new buildings.

A key feature of the micro-location is its walking distance to the Technical University of Braunschweig. For students and young professionals, this means short distances between home, lectures, study time and student life. This makes the location particularly suitable for student housing with smaller, already furnished apartments.

Public transport stops are located nearby, providing connections to other parts of the city and to Braunschweig city centre. This also makes the main railway station and other important destinations accessible without a car.

For everyday needs, the wider area offers shopping facilities for daily essentials such as supermarkets, bakeries and smaller shops. This is complemented by restaurants and other service providers, making it easy to take care of the most important daily errands from the property.

The neighbourhood also offers access to green and open spaces as well as opportunities for walks and sports activities nearby. Combined with its proximity to the university, this creates a micro-location that combines good living quality with clear location advantages for student housing and young professionals.

Project developer

The owner of the property and the project company responsible for the development is FOX Living PE 1 GmbH & Co. KG. The company was established specifically for the development and delivery of the real estate project at Lampadiusring in Braunschweig and is responsible for implementing the project.

FOX Living is part of the FOX Group, which is based in Hamburg. The group has been active as a real estate developer since 2016 and has completed projects in the residential, commercial and logistics sectors. According to the company, it has since planned and delivered a project volume of around €4 billion and more than 650,000 m² of gross floor area.

Within the group, FOX Living focuses on residential apartments for students, trainees and young professionals. Its main focus is on housing projects with typically 150 to 350 units in larger and medium-sized cities. Land for around 500 additional units has already been secured, and in the medium term FOX Living aims to deliver around 1,000 new units per year. This means the concept is based on a recurring, specialised business model rather than a single project.

In this project, FOX Living is mainly responsible for the concept, planning, financing preparation and management of the construction work through to completion. Based on the current plan, the completed and let property is intended to be sold; it is not intended to remain in the company’s long-term portfolio.

For investors, this means that the project is backed by a specialised developer with a clear focus on residential apartments, especially for students and young professionals. The developer brings experience from completed and planned projects. This experience, the standardised processes and the involvement of a professional property manager may help to manage typical development and operating risks more effectively, but they do not remove the investment risk entirely.

Team

Behind FOX Living - Apartments Braunschweig is a team with many years of experience in project development and real estate investment.

  

Mathias Grüning, Managing Director FOX Living

Mathias Grüning

Managing Director FOX Living

Mathias Grüning has more than 10 years of experience in the development of real estate projects and has been involved in a development volume of more than €1 billion. As Managing Director of FOX Living GmbH, he has built up the student housing segment and housing options for trainees and young professionals within the FOX Group. In doing so, he uses the existing structures and strong access to capital within the group to secure sites quickly and move projects forward in an organised way from acquisition through to completion.

  

Anne van Dorp, Senior Project Developer FOX Living

Anne van Dorp

Senior Project Developer FOX Living

Anne van Dorp has more than 8 years of experience in the development and acquisition of residential real estate. During this time, she has been involved in a development and transaction volume of more than €250 million in the residential real estate sector.

Investment logic & repayment mechanism

The investment opportunity offered here, in the amount of €1.53 million, finances the first phase of the project FOX Living Apartments in Braunschweig, at Lampadiusring. This includes the partial refinancing of the land acquisition, the project development of the planned property, and the financing costs of this bond.

The tranche complements senior financing from a credit institution and the equity contribution of FOX Living Holding 1 GmbH & Co. KG.

What is being financed?
  • Partial refinancing of the land that has already been acquired
  • Upfront project development costs (costs for planning and permits)
  • financing costs of this bond
Basis for the further implementation of the project
How is repayment planned?
  • Planned sale of the completed and let apartments
  • Repayment of interest and principal from the sale proceeds after repayment of the bank loan
Repayment is based on the later sale of the property
Collateral & risks

Details on the collateral, the ranking and the main risks of this investment can be found in the section Collateral & risks as well as in the KIIS in the section Documents.

What interest payments and repayment mainly depend on:
  • whether construction and project development costs remain within the planned range,
  • whether the real estate project can be let as planned,
  • whether sufficient sale proceeds can be achieved at the time of sale, and
  • whether the issuer is able to meet its obligations.

For the building construction phase, a second, separate financing tranche is planned on Invesdor. It is expected to be offered separately at a later stage and presented with its own terms. Investors in this round will secure early access to the opportunity to invest in the second tranche.

Sustainability

The Sustainable Development Goals (SDGs), also known as the Global Goals, are part of the UN 2030 Agenda for Sustainable Development and provide the international framework for sustainable development through to 2030. These goals aim to end poverty, reduce inequality and tackle climate change.

The FOX Living - Apartments Braunschweig project contributes in particular to two of the United Nations Sustainable Development Goals – especially affordable and clean energy (SDG 7) and sustainable cities and communities (SDG 11).

SDG /

SDG 7 – Affordable and Clean Energy

With the planned EH‑55 standard, the project aims to reduce the building’s energy demand compared with a typical new building. In addition, a photovoltaic system is planned on the roof, which can generate part of the electricity needed on site. Together, these features help make energy use more efficient and increase the share of renewable energy in the project, although they do not guarantee specific energy or cost savings.

SDG 11

SDG 11 – Sustainable Cities and Communities

The project creates 189 additional apartments tailored to students and young professionals in a housing market with very low vacancy. Its location close to the Technical University of Braunschweig allows for short distances between home, study, work and everyday life. Shared areas such as the roof terrace and garden help strengthen community life within the building and the wider neighbourhood. In this way, the project supports compact and well-connected urban living and helps make efficient use of available space for housing.

Company information

Company name: FOX Living Holding 1 GmbH & Co. KG
Managing Director: Martin Göcks, Mathias Grüning
Registration number: HRA 132607
Year founded: 2025
Address: Große Elbstraße 61
22767 Hamburg
Germany
Sector: Residential real estate
Guarantor: FOX Living GmbH (HRB 192320)
Website: https://fox-re.de/living

Figures

Note on the presentation of the project and financing

This issuance relates exclusively to the first bond of the project. The capital raised will be used mainly for the land purchase, which has already been paid, and for the early stage of project development (planning, reports and permits).

However, the following graphics and calculations present the project as a whole, including all financing components – that is, including the bank loan, equity and later bond tranches. Looking at the overall project is the only way to assess whether the planned construction and later sale are economically viable and whether, from today’s perspective, there is sufficient room for the repayment of all financing components, including this bond.

The division into several bond tranches follows the progress of the project: first, the land purchase and planning are financed, and at a later stage the actual construction. This helps avoid tying up investor capital in the project for a long time without being used, while still incurring interest costs. At the same time, investors can decide at a later stage, based on more up-to-date information, whether they would also like to invest in a further bond tranche.

Overall calculation

The following information on the overall calculation is based on the current planning of the project developer, FOX Living PE 1 GmbH & Co. KG.

The total investment costs are currently estimated at around €28.06 million. This estimate is based on the current cost assessment and the underlying project calculation, and is guided by market-standard benchmark values.

As these are forecasts, deviations in costs, timing and project scope cannot be ruled out.

Item Amount Share
Land / acquisition incl. ancillary acquisition costs €3,433,301 12.2%
Construction and fit-out costs €18,319,968 65.3%
Ancillary construction costs / project development €3,067,943 10.9%
Financing and other project costs (incl. reserve) €3,243,388 11.6%
Total investment costs €28,064,600 100 %

Sources of funds

The total financing for the construction project in the amount of €28.06 million consists of three building blocks:

Bank loan 64 %
Equity 21%
Invesdor 15 %
Bank loan
approx. €18.0 million (around 64.1% of the project volume)
Equity from the project developer
approx. €5.89 million (around 21% of the project volume)
Investor capital via Invesdor
approx. €4.175 million (around 14.9 %), divided into two tranches (including Tranche 1 with €1.53 million).

The first tranche offered here of €1.53 million finances the early project phase. It is used to partially refinance the land acquisition at Lampadiusring 8, which has already been paid for with equity, and to cover project development costs such as planning, reports and approval procedures. In addition, part of the total Invesdor volume serves as a reserve for interest and financing costs at holding level.

*The project developer undertakes to provide a total of at least €5,889,600 in equity for the real estate project and make it available to the project company. In this phase of the project, at least €2,322,200 of this equity will already be contributed by the project developer. The full contribution of the committed equity amounting to €5,889,600 will then be made step by step over the course of the subsequent project phases.

Business case & sale proceeds

For the project, the total investment costs are currently estimated at around €28.06 million . Based on the current planning, the completed and fully let apartments are expected to be sold for around €34 million . This means that, in the base case scenario, there is a clear margin between planned costs and expected sale proceeds; according to the current calculation, the project margin is around 21.17%.

Upon the later sale, the bank loan (approx. €18 million) and other senior obligations are to be repaid first from the purchase price. The repayment of the Invesdor bonds (Tranche 1 and the later Tranche 2, together €4.18 million gross) is then planned from the remaining amount. Only after these liabilities have been settled will any remaining surplus flow to the project developer. From an investor perspective, this means that, according to the plan, the bond is repaid before the equity, so there is first a buffer for the repayment of the bond.

The project must remain within budget, the planned rents and occupancy must be achieved broadly as expected, and the market must allow for a sufficient purchase price at the time of sale. If costs, rents or the sale price differ significantly from the plan, this buffer may shrink or be used up entirely – to the point where, after repayment of the bank loan, there may not be enough funds available for full repayment of the bond. The figures described therefore show why repayment appears plausible in the base case scenario, but they do not constitute a guarantee. Detailed assumptions and risks are explained in the section “Collateral & risks” and in the KIIS.

Total investment costs (plan)
€28.06 million
including land, construction, development and financing costs
Planned sale proceeds (plan)
~€34.0 million
Sale of the completed and fully let micro-apartments
Planned buffer / project margin
~€5.9 million
equivalent to a margin of around 21.7 % in the base case scenario
This overview shows a simplified picture of the project’s planned financial framework: based on total investment costs of around €28.06 million, the current plan assumes sale proceeds of around €34 million. The resulting buffer is intended to enable repayment of the bond (Tranche 1 and the later Tranche 2) after repayment of the bank loan and other senior liabilities. Whether these assumptions are realised depends in particular on construction costs, letting, market development and the actual sale price achieved; repayment can therefore not be guaranteed.

Possible exit scenarios

Real estate company / family office Fund / insurance company (fund structure)
Typical buyers Long-term holders, real estate companies or family offices that would keep the property in their own portfolio over the long term. Real estate funds or insurance companies that would acquire the property through their own fund or special fund structure.
Investment logic Focus on stable recurring rental income and a suitable building block within a residential or mixed-use portfolio in a university city. A building block within a diversified portfolio with long-term predictable returns for fund or insurance clients.
Relevance for investors Plausible if comparable student housing properties have already been sold to long-term holders or family offices. Plausible if funds and insurance companies are actively seeking student housing or micro-living as an asset class.
Main uncertainties Level of achievable rents, buyers’ return expectations and the price level at the time of sale. Market and interest rate environment, regulatory requirements and the allocation strategy of funds and insurers at the time of sale.

In addition to the preferred exit scenarios shown above, individual unit sales are also possible, as an apartment ownership certificate has been applied for.

The scenarios described are possible buyer groups from today’s perspective. Whether a sale actually takes place, and on what terms, depends on the market situation, the letting performance and the return requirements of institutional buyers at the time of sale and cannot be guaranteed.

Payment flow

Payment flow for Tranche 1

  • The bond carries a fixed interest rate of 8.75% p.a..
  • The term begins on 01 August 2026 and is scheduled to end on 31 July 2028 (approx. 24 months).
  • The interest payments are due quarterly in arrears on 30 March, 30 June, 30 September and 30 December of each year during the term of the bond, for the first time on 30 December 2026.
  • The repayment of the invested capital is due at maturity on the planned end date of 31 July 2028 – from the expected sale proceeds of the project after repayment of the bank loan.
Start
Start of term
01 Aug 2026
%
First interest payment
from 30 Dec 2026
%
Interest payments
quarterly
€
Bullet repayment
31 Jul 2028

Collateral & risks

The investment is secured by the following collateral and guarantees:
Collateral Collateral provider Contact details of the collateral provider
Guarantee of EUR 160,000 FOX Living GmbH Große Elbstraße 61, 22767 Hamburg, Germany registered in the Hamburg commercial register under registration number HRB 192320
Pledge of company shares in FOX Living PE 1 GmbH & Co. KG FOX Living Holding 1 GmbH & Co. KG Große Elbstraße 61, 22767 Hamburg, Germany registered in the Hamburg commercial register under registration number HRA 132607
Pledge of company shares in FOX Living Holding 1 GmbH & Co. KG FOX Living GmbH Große Elbstraße 61, 22767 Hamburg, Germany registered in the Hamburg commercial register under registration number HRB 192320
Assignment of rental and purchase price receivables FOX Living PE 1 GmbH & Co. KG Große Elbstraße 61, 22767 Hamburg, Germany registered in the Hamburg commercial register under registration number HRA 132608
Assignment of purchase price receivables FOX Living Holding 1 GmbH & Co. KG Große Elbstraße 61, 22767 Hamburg, Germany registered in the Hamburg commercial register under registration number HRA 132607

The recoverable value of the collateral and guarantees may fluctuate, especially in the event of a default, which may lead to a lower return.

Risks

An investment in real estate projects always involves risks. In addition to the general risks associated with financing, there are also specific risks arising from the individual project, the project developer and the chosen financing structure.

Below you will find a detailed description of the key risks of this investment, as described in the Key Investment Information Sheet (KIIS). Please read this information carefully before making an investment decision.

Investors should be aware that, in the worst case, a partial or total loss of the invested capital is possible.

The issue partly refinances equity used to acquire the project land for the “FOX Living - Microapartments Braunschweig” real estate project. The issue proceeds are passed on as a shareholder loan to the land-owning project company, FOX Living PE 1 GmbH & Co. KG. There is a risk that the real estate project cannot be implemented as planned, for example because of delays in permitting or construction, cost increases or other unforeseen events. As repayment of the bonds depends largely on the successful development and sale of the property, interest and repayments may be delayed or may not be made in full. Investors may suffer a partial or total loss of their invested capital.

The project developer operates in the construction sector. Specific sector risks include construction delays caused by material shortages, shortage of skilled labour or weather-related effects, as well as significant increases in construction costs. The sector is also affected by economic fluctuations in the real estate market, changes in the interest rate environment and changes in regulation or law, for example in planning, energy or tenancy law. These factors may negatively affect the project developer and may lead to interest and repayment claims not being met in full, on time or at all, up to a total loss of the invested capital.

Repayment of the bonds is expected to come from the proceeds of the planned sale of the real estate project. There is a risk that this sale cannot be completed, cannot be completed at the planned time or cannot be completed at the calculated sale price. Investors are exposed to the insolvency risk of the project developer. In insolvency proceedings, bondholders may suffer a total loss. The recoverability of collateral can also be impaired if collateral providers become insolvent. In addition, the shareholder loan to the property company is economically subordinated to the servicing of senior bank financing.

There is a risk that the return is lower than expected, delayed or does not materialise at all. Interest and repayments depend on the economic development and solvency of the project developer and may fail in whole or in part. Investors may therefore lose all or part of their invested capital. inflation, exchange rate fluctuations, costs and individual tax circumstances may further reduce the return.

There is a risk that the crowdfunding platform is temporarily or permanently unavailable or ceases operations. This may cause delays in communication and in interest or repayment processes. Investors’ contractual claims against the project developer remain unaffected, although enforcement may become more difficult. Since the crowdfunding service provider does not take possession or ownership of investor funds and payment processing is handled by a payment service provider, a loss of invested capital solely due to a platform outage is considered unlikely.

The bonds have a fixed term and cannot be ordinarily terminated by investors during that term. A sale is only possible to a limited extent because transfer is technically restricted to registered digital safes. There is currently no stock exchange trading and no liquid secondary market for the bonds. Investors may therefore be required to hold the bonds until maturity and bear the risk of not finding a buyer or only being able to sell the investment with financial losses. The bonds may prove to be fully illiquid.

The bonds grant only contractual claims against the project developer and do not provide participation, influence or voting rights. The terms of the bonds may also be amended during the term if the required majority resolutions of bondholders are passed, which may negatively affect individual investors. In addition, there are technology and database risks relating to digital custody and the electronic securities register. Technical failures, cyberattacks or loss of access to digital safes could temporarily or permanently affect access to the electronic securities. Other risks and uncertainties not currently known or considered relevant by the project developer may also materially affect its business, development and financial performance.

Documents

Updates

Note:

In this update section, you will find, among other things, answers to questions submitted by investors. The answers shown are provided by the respective company and are labelled accordingly.

Invesdor does not carry out any separate verification of information submitted after the start of the financing phase.

Do you have questions for the company? Then please send them directly to service@invesdor.de or service@invesdor.at.

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