Honest Karlin Lot 8

Operating serviced apartments in Prague

Interest
10 % p.a.
Min. investment
50 EUR
Status
Active
Investment goal 88 930 EUR
Invested 23 043 EUR
26% Filled 65 887 EUR left
Honest Karlin Lot 8 Honest Karlin Lot 8

Investment information

  • Min term. 6 months
  • Max term. 6 months
  • Collateral value 6,250,000 EUR
  • LTV 53%
  • Location Prague 8, Karlin
  • Developer Vihorev Group
  • Interest payout Bullet
  • Loan purpose Equity refinance loan
  • Securing Corporate guarantee
  • Project phase In construction
  • Visual materials Overview

Project capital structure

Own equity 2 810 000 EUR
Fintown loan 98 670 EUR
96.6%
3.4%

Honest Karlin

Executive summary

  • Introducing our new product Development!

  • Based on your feedback, we are pleased to announce a new product on our platform.

  • Development is a familiar and reliable offer with "bullet" interest payment

  • Honest Karlin, our serviced apartments, will be ready for tenants in early 2024 and will be published as a Rental project at Fintown.

Early Bird

All investors who invest before the Min. Goal is reached will begin accruing interest rapidly from the day the Min. Goal is reached

Project summary

  • Investment opportunity in developing property, with an expected return of 10.00% per annum.

  • Developer has listed an Early Bird opportunity to invest in future Rental property on the Fintown platform in order to secure a mezzanine loan, in addition to an existing bank loan, to refinance own funds.

  • The property, Honest Karlin, is located in the Prague Old Town. Project of total revitalization and extension of the building in Prvního pluku Street.

  • The building will serve as modern serviced apartment housing.

Product Development

Introducing Development, our new product that secures and increases your income on invested funds.

  • You invest in the final development stage, with no risks that building won't be completed

  • After the completion of a construction project will generate revenue as a rental serviced apartments.

With Development, you can get an opportunity to invest in future profitable and demand properties without any commission or hidden fees.

Project description

We are pleased to offer a real estate investment opportunity in the form of a mezzanine loan participation for a development project.

Lender, Fintown s.r.o., is extending a loan to Vihorev. Investments SE, a subsidiary of the VIHOREV GROUP.

Honest Karlin represents a building renovation project led by Vihorev Group, a development firm established by Maxim Vihorev.

Currently, under construction, the project is on schedule to be finished by the fourth quarter of 2023. Upon completion, the building is set to function as high-end mid-term accommodation offering both short-term and mid-term rentals.

The project is located in Karlín, a unique area of Prague, making it an attractive addition to your investment collection. Also, because the project focuses on building apartments in the heart of the city, it promises to make the most money possible.

Upon completion, Honest Karlin will span 1050 square meters and house 31 apartments.


Investment product description

Product

Development

Loan purpose

Loan for equity refinancing

Location of the funded project

Prague 8, Karlin

Borrower

Vihorev Investments SE

Collateral Value

6.250.000 EUR

Senior loan

2.540.000 EUR

Fintown loan

800,000 EUR

Borrower equity

2,910,000 EUR

Minimum investment

50 EUR

Interest payout

After min. term

Start of interest accrual

After fundraising deadline

*Invest before the Min. Goal is reached and enjoys interest rapidly from the day the Min. Goal is reached

Max. term of the project

6 months

Project information

  • Honest Karlin project is a residential rental opportunity that is under construction now, located in Prague 8, Karlin neighborhood.

  • Four-story apartment building has undergone a comprehensive renovation and expansion.

  • To date, the project is in the final stage of development.

Project basic information

Total number of apartments

31

Total amount of leased area, m2

1050

Average area of a leased unit, m2

33

Commercial analysis

  • The rentals for Honest Karlin will be managed by the operating company Vihorev Management Company s.r.o.

  • The launch of the apartment rentals is slated for Q4 2023 - Q1 2024, and the availability will be broadcasted across various platforms, such as Booking.com, Airbnb, Expedia, and Flatio.

  • Given its prime location and superior living conditions, the property is anticipated to maintain an occupancy rate of over 90%.

Financial income and 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.

  • Net income for Fintown investors is 10.00% per annum.

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