Operating serviced apartments in Prague
Introducing the flagman project by Vihorev Group, Honest Ricany.
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.
Currently, the project is Operating and open for short, mid and long term rent, as service apartments under the management of Vihore Group.
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.
This is in addition to an existing bank loan, aimed at refinancing the borrower's equity.
Honest Ricany, is situated in Ricany city, a suburb of Prague, connected by a direct highway to the city.
Apartment complex offers a combined work and living concept, offering modern serviced apartment housing and coworking spaces.
One of the main features is that you will earn monthly interest, which can be reinvested or withdrawn to your bank account.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.
Introducing "Honest Ricany" by Vihorev Group, a pioneering Live & Work concept that aligns with the global trends of the "subscription economy" and "hustle-free" lifestyle. Situated in the serene suburbs of Prague, this 14-story edifice offers both convenience and modernity.
Residents of Honest Ricany will find themselves in a prime location, ensuring effortless commutes to Prague's city center, whether by public transport or car. The building is divided into two core components: residential apartments and a state-of-the-art coworking center, seamlessly integrating the live-and-work paradigm.
Apartments: Spanning from the 2nd to the 14th floors, Honest Ricany boasts 140 serviced apartments, including types 1KK, 2KK, and exclusive penthouse suites. Most of these apartments offer expansive views of the picturesque countryside starting from the 2nd floor. Designed for utmost comfort, each apartment comes furnished with essential household appliances. Residents will benefit from a 24-hour concierge service, dedicated parking for both vehicles and bicycles, complimentary internet access, and a user-friendly mobile app for real-time updates and service requests.
Workspace: Spread across three floors, is a versatile hub tailored for today's professionals. It encompasses hot desks, private offices, meeting rooms, and expansive conference areas for larger gatherings. Furnished with cutting-edge technology and amenities for both work and leisure, it promises an optimal working environment.
Sustainability is at the heart of Honest Ricany. Constructed with the latest energy-saving technologies and environmentally-friendly materials, the complex also features green roofs, underscoring our commitment to ecological responsibility.
Product | Rental |
Loan purpose | Loan for equity refinancing |
Location of the funded project | CERNOKOSTELECKA 1623/14 RICANY |
Borrower | Vihorev Investments SE |
Collateral Value | 28.000.000 EUR |
Senior loan | 13.600.000 EUR |
Fintown loan | 5,000,000 EUR |
Borrower equity | 5,600,000 EUR |
Interest payout | Monthly interest payout |
Start of interest accrual | From the investment date |
Max. term of the project | 60 months |
The Honest Ricany project is a residential rental opportunity, located in Ricany, a suburb of Prague.
The 14-story apartment building has undergone comprehensive renovation and expansion.
As of now, the project is in the operating stage.
Project basic information
Total number of apartments | 140 |
Total amount of leased area, m2 | 7,025 |
Average area of a leased unit, m2 | 35 |
The rentals for Honest Ricany are managed by the operating company, Vihorev Management Company s.r.o.
Long and mid-term rentals are offered by the Vihorev Sales team and short-term rentals through the Booking.com, Airbnb, Expedia, and Flatio platforms.
Given its convenient location and superior living conditions, combined with the work & live concept, the property is anticipated to maintain an occupancy rate of over 90%.
Project metrics, EUR | For all 31 units |
Operating Cash Flow | |
Estimated annual rental revenue | €2,885,306 |
Estimated annual operating costs | (€986,939) |
Senior loan annual interest expense | (€751,020) |
Net Cash Flow (Before Fintown loan) | €1,147,347 |
Fintown loan annual interest expense | (€610,000) |
Net cash flow (Total) | €537,347 |
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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