Operating serviced apartments in Prague
FLEXI is a classic Rental opportunity with a minimum term of 30 days, offering the option to reinvest or withdraw your funds after this period.
The maximum term of the project is 60 months, with monthly interest payments.
Loan is issued to refinance the invested equity of the borrower in the form of a Mezzanine.
This loan is subordinate to the Senior Loan.
Project has been in the operating phase since April 2024.
Interest on the loan will be paid from the net cash flow generated by apartment rentals, as detailed in the Monthly Cashflow calculation below.
Loan is guaranteed by Vihorev Management Company s.r.o., acting as the property management company, and Vihorev Investments, SE, as the Borrower.
This investment opportunity presents an operating property poised to generate short, mid, and long-term rental income, offering an expected return of 8.00% per annum.
This is in addition to an existing bank loan, aimed at refinancing the borrower's equity.
Honest Karlin is located in one of Prague's most frequented areas, the Karlin District.
Currently, apartments are rented through rental booking platforms and among the customer base of Honest Apartments, a brand of the Vihorev Group.
One of the main features is that you will earn monthly interest, which can be reinvested or withdrawn to your bank account.
This product requires adherence to a minimum term before you can withdraw your principal.
Interest accrual starts from the day of investment, and the first interest payout is made on the 1st of the subsequent month.
After the minimum term, you can choose to withdraw your principal or leave it invested to continue generating income.
The maximum term for rental products is 60 months.
We are excited to present a unique real estate investment opportunity through a mezzanine loan participation, catering to both short and long-term rentals.
In this venture, Fintown s.r.o. serves as the lender, providing a loan to Vihorev Investments SE, a subsidiary of the well-established VIHOREV GROUP.
The focal point of this project is Honest Karlin, a comprehensive building renovation initiative led by the Vihorev Group, under the direction of its founder, Maxim Vihorev. Initiated in 2021 and completed in April 2024, the project includes 31 units. Rental operations will be managed by the SPV, Vihorev Management Company s.r.o. With a rich background in real estate, Mr. Vihorev brings his extensive experience as a developer and investor, boasting a portfolio that includes five successfully completed projects covering 7,096 square meters and three ongoing projects spanning 9,225 square meters.
Product | Rental |
Loan purpose | Loan for equity refinancing |
Location of the funded project | Prague 8, Karlin |
Borrower | Vihorev Investments SE |
Collateral Value | 6.240.000 EUR |
Senior loan | 2.540.000 EUR |
Fintown loan | 2,000,000 EUR |
Borrower equity | 1,700,000 EUR |
Minimum investment | 1 EUR |
Interest payout | Monthly payout |
Start of interest accrual | From the investment date |
Max. term of the project | 60 months |
Honest Karlin project offers a residential rental opportunity currently operating in the Karlin neighborhood of Prague 8.
This four-story apartment building has completed a comprehensive renovation and expansion, elevating it to modern living standards.
As of now, the project is open for tenants and poised to provide a contemporary living experience in a sought-after area.
Project basic information
Total number of apartments | 31 |
Total amount of leased area, m2 | 1050 |
Average area of a leased unit, m2 | 33 |
The rental operator is SPV Vihorev Management Company s.r.o.
Operational activities began in April 2024.
Rentals are offered through the Booking.com, Airbnb, Expedia, and Flatio platforms.
Estimated Performace
Estimated Occupancy 90%
ADR 100 EUR
RevPar 90 EUR
Project metrics, EUR | For all 31 units |
Collateral Value | 6,240,000 |
Senior Loan | 2,540,000 |
Fintown loan | 2,000,000 |
Own equity | 1,700,000 |
Operating Cash Flow | |
Estimated annual rental revenue | 1,018,350 |
Estimated annual operating costs | (407,340) |
Senior loan annual interest expense | (152,400) |
Net Cash Flow (Before Fintown loan) | 458,610 |
Fintown loan annual interest expense | (200,000) |
Net cash flow (Total) | 258,610 |
Commission-free for the use of the Fintown platform.
No hidden fees for exiting at any time after min. term. during the project.
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