Rental - Ricany - LOT 22

Operating serviced apartments in Prague

Interest
9 % p.a.
Min. investment
1 EUR
Status
Active
Investment goal 300 000 EUR
Invested 159 771 EUR
53% Filled
Rental - Ricany - LOT 22 Rental - Ricany - LOT 22

Investment information

  • Min term. 12 months
  • Max term. 60 months
  • Collateral value 28,000,000 EUR
  • LTV 86%
  • Location CERNOKOSTELECKA 1623/14 RICANY
  • Developer Vihorev Group
  • Interest payout Rental
  • Loan purpose Equity refinance loan
  • Securing Corporate guarantee
  • Project phase Operating
  • Visual materials Overview

Project capital structure

Own equity 5 600 000 EUR
Fintown loan 5 000 000 EUR
52.8%
47.2%

Honest Karlin

Executive summary

  • 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.

Visual Materials

Project summary

  • 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.

Product Rental

  • One of the main features is that you will earn monthly interest, which can be reinvested or withdrawn to your bank account.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.

Project description

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.


Investment product description

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

Project information

  • 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

Overview of Commercial Prospects

  • 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%.

Financial analysis

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

Costs for Fintown investors

  • Commission-free for the use of the Fintown platform.

  • No hidden fees for exiting at any time after min. term. during the project.