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Risk disclosure

Risk disclosure of Yeldo.com

Preliminary remark

This website www.yeldo.com ("Yeldo website") contains information on real estate investment proposals (“Investments”), including future forecasts. These are indications based on assumptions and estimates that are now considered appropriate but which, due to various factors of uncertainty, may differ, even significantly, from the actual results. No guarantee is provided on the merits of the correctness of the expressed opinions, judgments, projections, forecasts or statements or on the merits of the fact that the financial goals of the Investments will be achieved.

Potential investors are invited to perform their own due diligence and to evaluate the legal and tax consequences arising from an Investment and to consult professional advisors where applicable. This disclosure provides some non-exhaustive information on the risks of real estate investments.

Concentration risk

The Investments are restricted to specific real estate properties or portfolios and hence foreclose diversification of overall risk across multiple investments.

Entrepreneurial risk

The Investments, similarly to any business activity, are subject to the entrepreneurial risk of obtaining results that are poorer than those expected in the business plan and in the financial forecast. These estimates and projections have been carried out based on generally accepted prudential criteria, but there is no certainty as to the actual realization of the expected results. Furthermore, the current emergency situation due to Covid-19 represents an additional factor of uncertainty.

Duration risk

The time horizon envisaged for holding the Investments ("Holding Period") represents the time period required to carry out the property development project and the consequent liquidation of the Investment. This time horizon, calculated on a prudential basis, cannot, however, be defined with certainty. Furthermore, the current emergency situation due to Covid-19 represents an additional factor of uncertainty.

Financial risk

The financial resources available in the Investments could become insufficient, preventing the company from completing its real estate development project.

Real Estate sector risk

The real estate sector may be influenced by contingent and prospective factors relating to the type of property and its geographical location, including economic trends and the rate of occupation. Other factors that may affect the real estate market include fluctuations in interest rates on financial markets and mortgage rates, expected population growth and public investment in infrastructure. It is also necessary to consider further risks with reference to real estate, such as (i) the possible occurrence of natural and/or accidental events that have consequences on the structure and/or consistency of the real estate, (ii) the possibility of having to adopt special measures not envisaged in the business plan to ensure its state of conservation and/or safety, the costs of which may be reflected in profitability and (iii) the change in its value and/or profitability (due, for example, to natural events, changes in land-use policies and urban plans as well as events affecting contracts). In addition, the real estate market may be affected by regulatory changes of a civil, administrative or fiscal nature, as well as by the health emergency situation linked to the Covid-19 virus. Furthermore, there is no guarantee of future growth in the local real estate market. The occurrence of any of the risks described above could have negative consequences both on the profitability generated by the properties being developed under the Investment and on their value, and therefore on their price and, ultimately, on the profitability of the Investment as such.

Risk related to breach of contract by purchasers

The profitability of some of the Investment is linked to the correct fulfilment, by the purchasers of the real estate units of the purchase promises made by signing the preliminary purchase agreements (right of purchase) or the contractual obligations deriving from the relative deeds. Possible breach of contract by such purchasers could affect the profitability of the Investment.

Risk associated with real estate development times and costs

The real estate development times and costs could be higher than those foreseen in the business plan. This could depend on possible delays in the granting or suspension of the validity of the administrative authorizations that must be or have already been issued by the competent administrative bodies for the purposes of the realization of the project itself or the effects of the measures aimed at the containment of health emergencies, such as that of the Covid-19 in course. In any case, no guarantee is provided for the actual validity, timing of release and/or any suspensions of administrative measures that may be determined by requests from any administrative body. It should also be borne in mind that the granting of the financial resources required to implement the Investment - which may consist, among other things, partly of bank loans, partly of investments, and partly of advances on the sale of the property units - could be delayed and, the aforementioned resources, once granted, could come to an end or run out before the timeframe envisaged for completion of the Investment; these circumstances could make it impossible to complete the project or delay its completion, even significantly. Other factors that could affect the increase in the real estate development costs are the increase in the cost of labor or raw materials, as well as the possible extension, beyond the estimated time horizon, of the real estate development timeframe, as described above.

Risk of loss of invested capital

The Investment may result in a total and irreversible loss of capital invested. The investor must therefore carefully assess the Investment also in relation to the size of its assets.

Illiquidity risk

The Investment is not guaranteed by repurchase agreements or guarantee funds and is not admitted to trading on regulated markets or other multilateral trading systems. This makes the Investment a highly illiquid financial instrument, subject to high divestment difficulties (difficult to transform into cash in the short term). An investor interested in selling its participation in the Investment could, therefore, encounter difficulties in finding a counterparty interested in buying it.

About alternative investments

If you like to learn more about alternative investments, you can check the following resource from Harvard Business School.

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+41 91 973 22 20

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Potsdamer Platz 1, 10785 Berlin, Germany

Corso Elvezia 14, 6900 Lugano, Switzerland

Via Borgogna 5, 20122 Milano, Italia

Notice according to § 3 (2) of the German Securities Institutes Act (Wertpapierinstitutsgesetz - WpIG): Yeldo GmbH is a so-called "tied agent" in terms of § 3 (2) WpIG and acts as an investment intermediary according to § 2 (2) No. 3 WpIG exclusively for CONCEDUS GmbH, Eckental. Yeldo GmbH has been notified to the German Federal Financial Supervisory Authority (BaFin) as a „tied agent" of CONCEDUS GmbH and has been entered in the BaFin Register for tied agents under the registration number 80177477. The BaFin register for tied agents can be reviewed at: https://portal.mvp.bafin.de/database/VGVInfo/.

The content of, and the documents available in, the Yeldo Platform (together, the “Content”) have been prepared by Yeldo SA (“Yeldo”) with the sole purpose of providing you with preliminary information relating to Yeldo and its investment strategy in the real estate sector (the “Investment Strategy”), some of which are reserved exclusively for qualified/professional investors as defined pursuant to Swiss/European applicable laws. The Content does not constitute an offer, advertising or investment advice to the public, a solicitation to purchase or invest into any real estate property or to participate in the Investment Strategy. The Content is disclosed for information purposes only. Even though Yeldo has used every reasonable effort to ensure that the Content is accurate and complete in all significant respects, Yeldo does not provide any guarantee and declines any responsibility with regard to the accuracy or completeness of the Content as at any time. An investment pursuant to the Investment Strategy is illiquid and involves significant risks and may result in partial or total loss of the invested capital. The prospective investor uses the Yeldo Platform and any content, data and information displayed, including specifically, projections, forecasts and forward-looking statements, exclusively at its own risk. By accessing and using the Yeldo Platform and any pages thereof, you agree to, and acknowledge, the foregoing, and you agree to be bound by the Terms & Conditions of the Yeldo Platform.

For Swiss investors: The information on this website does not constitute a recommendation or an offer or a solicitation to purchase or sell financial instruments or to enter into any transaction or contractual relationship. The information on this website is further exclusively directed at qualified investors and professional clients under Art. 10 (3) and (3ter) of the Swiss Collective Investment Schemes Act (CISA), respectively, under Articles 4 and 5 of the Swiss Financial Services Act (FinSA) (“Professional Investors”), based on the user’s self-declaration. The content of this website is not directed at any non-qualified investors or private clients within the meaning of the CISA, respectively, the FinSA, residing outside of Switzerland (or the European Union – subject to the section below). Yeldo SA client advisors are registered with the client advisors’ register BX Swiss AG.

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